Strategic Plan of HOTS Hotel Samples for Students †MyAssignmenthelp.c

Question: Discuss about the Strategic Plan of HOTS Hotel in Australia. Answer: Introduction HOTS Hotel is located at 150 from the famous Bondi beach, Australia. The HOTS hotel provides budget boutique hotel room. The hotel consists of 250 guest rooms and it has a terrace for al fesco dining, free local telephone calls and Wi-Fi. The rooms are spacious and attached bathrooms are available for each room. The hotel is surrounded by bars, cafes and restaurants of Bondi. Bondi is famous for its scenic beauty and a great shopping hub for the travelers (Australian Hotel Sector Outlook, 2017). This paper will highlight thestrategic management plan of HOTS hotel using the various theoretical models. Further these model will be used to evaluate its influence on the decision making plan of the organization. The hotel has the scope of becoming a leader in that surrounding defeating its competitors with its service and price. However, it will have to move according to the internal and external environment that influence the hotels future growth. Theoretical models for analyzing the internal and external environment of the hotel Macro Environmental Analysis using PESTLE Political environment of Australia Australia is a very stable economy and it is very suitable for starting any business venture. It is one of the most prosperous economies where people enjoy a decent standard of living. The economy also shares a close political relationship with the neighboring countries which is an additional benefit for HOTS Hotel to operate its business. Australia is ranked 15th out of 190 countries in the ease of doing business. Thus, it can be said that HOTs can operate its business in Bondi without much political restrictions (Australian Government, 2017). Economic Environment of Australia Australia is a developed and wealthy economy. It has least market barriers and an open market environment for business. Australias stood fifth in the index of economic freedom. The sustained growth of the economy of Australia provides an attractive, competitive and safe market. The cross border trade in Australia will facilitate HOTS hotel to set their business easily in the Australian market. Thus, the economic environment of Australia is suitable for HOTS Hotel (Prideaux, 2013). Social Factors of Australia Australia is ranked tenth among the top 10 countries with high literacy rates. The economy of Australia has a great fondness of western culture. This is beneficial for HOTS Hotel online marketing strategy as it will be easily accepted by the people. However, there is a great preference for food items, luxury products and entertainment. Thus HOTS hotel can attract the customers by offering services at a discounted price in its official website. Technological Factor of Australia Australia ranks 23rd in the global innovation index according to 2017 Global Innovation Report. There has been a decline in the investment on research and development. All these factors will lay impact on HOTS Hotel as it will facilitate the company to take up new innovation from time to time for their growth. The increase in the internet usage by the customers of Australia will accelerate the demand for HOT Hotels online marketing. Legal factor of Australia The economy of Australia charges a corporate tax of 30% on the total revenue of the company. This arte is high compared to the tax rate of other countries. Thus, this can be the challenging factor for HOTS Hotel as it will have to earn higher profit after paying off these taxes. Moreover, the hotel also needs to provide quality service in order to survive in the Australian economy. Environmental factor of Australia Australia is among the top polluted nation and air pollution lays harmful effect on the people of Australia. This may affect the business operation of HOTS hotel in Australia. However, as the hotel is located near the sea beach, this may not pose harmful impact on the business. The hotel must also abide by the environmental laws of the nation which aims to maintain environmental sustainability (Yang Sai, 2016). Porters Five Forces Bargaining power of the buyers The bargaining power of the buyers affects the hotel industry to a large extent. Customers have large number of substitutes available due to many hotels in Bondi beach. As a result, the customers can easily switch from one industry to another without any switching cost. Thus, the bargaining power of the customers is high (Jean Paolo G Lacap RMP, 2014). Bargaining power of the suppliers The bargaining power of the supplier is relatively less in the hotel industry. This is due to the reason that there are many hotels and the suppliers do not want to lose their customers. Thus, the bargaining power of the suppliers is low in this industry. Threat of new entrant In order to enter the hotel industry in Bondi, a company will have to be ready to invest a huge amount, incur huge cost initially and should a good financial backup. Thus, the threat of new entrant is comparatively low in this industry. Threat of substitutes The hotel industry is not threatened by any major substitute products except in times of recession in domestic travel which replaces overseas or international travel. The hotel will subject to powerful customers if the marketing strategy of the hotel concentrates on attracting tourist which is the case of HOTS hotel (Mose, 2015). Rivalry among firms There are many hotels in Bondi which implies that the threat of rival is high in this case. This is because all of them are striving to stay in competition in the market at the expense of others which imposing a huge threat on HOTS Hotel. Value Chain Analysis The value chain analysis of HOTS Hotel is discussed in the table below which shows the internal activities of the hotel and the activities that requires improvement (Mitchell, Font Li, 2015): Primary Activities Inbound Logistics Contract with the supplier for delivering food and beverages Provision of laundry services Stock requisition and Inventory control Operations Equipments and tools used for delivering the services in the hotel Outbound logistics Services and final products offered to the customers Marketing and Sales Activities which are attracting the customers such as happy hours, honeymoon packages, free conference rooms. Service Free complementary dinner and lunch Seasonal discounts Free spa treatment Good reception service Support Services Firm Infrastructure Long term planning, finance and accounting, qualitymanagement Human Resource Executives, staffs and customers of the hotel Technology Development Software to manage the operations of the hotel on real time basis Procurement Facilities offered to the customers which makes the operation of the services smooth Mission and vision of HOTS Hotel The mission of the hotel is to be a leader in the hotel industry of Bondi by creating heart-filled experiences for the guests. In addition to this, it also aims to abide by the environmental needs of the region it is operating (Touboulic, Walker, 2015). To do this the company vision to give the customers the warmth of hospitality by offering them exceptional personalized and professional services every time. Along with this it also focuses to build some environmental friendly technology and wastemanagement plan in their organization (Stentoft Arlbjrn, Vagn Freytag, 2013). Impact of the above analysis on decision making of the business HOTS Hotel aims at making significant progress in the three areas- service, environment and communities. Their main aim is to stand out of their competitors. For this, the hotel needs to employ unique facilities and innovation plan to gain competitive advantage (De Vries, Bekkers, Tummers, 2016). This will give the visitors an incentive to visit HOTS Hotel. The company can employ young staffs in the reception and management service. This will help in adding a new touch to the system that the modern society demands. The hotel can include pick up and drop facility for the tourists that are new to that place. The hotel will also induce some green technology in their restaurant service and waste management to reduce the energy use, carbon output, water use and waste output (Krass, Nedorezov, Ovchinnikov, 2013). The hotel will also start recycling of various products so that they can pose less threat to the environment (Benavides-Velasco,Quintana-Garca Marchante-Lara, 2014). It will be easy to incorporate this technology because of the increased innovation initiative of the region. This will help them give a clean and beautiful environment to the guests. Moreover, the hotel can offer hospital facility by collaborating with a nearby hospital in case f emergency. This will give a feeling of security to the customers. Conclusion Thus, it can be said that HOTS Hotel can operate its business successfully in Bondi if it manages the efficient use of resources and incorporate new technologies supporting the needs of the customers. A close study of the political and economic environment, legal, technological and other factors of Australia plays a vital role on the progress of the hotel. The value chain analysis helped the organization to realize the areas it is lacking such as transportation facility and hospital facility. This will help them be unique then their competitors and fight the competitive environment of the hotel industry. References Australian Government. (2017).austrade.gov.au. Retrieved 31 July 2017, from https://www.austrade.gov.au/International/Invest/Why-Australia/Business Australian hotel sector outlook. (2017).folkestone.com.au. Retrieved 31 July 2017, from https://folkestone.com.au/wp-content/uploads/2016/07/Australian-Hotel-Sector-Oct-2015.pdf Benavides-Velasco, C. A., Quintana-Garca, C., Marchante-Lara, M. (2014). Total quality management, corporate social responsibility and performance in the hotel industry.International Journal of Hospitality Management,41, 77-87. De Vries, H., Bekkers, V., Tummers, L. (2016). Innovation in the public sector: A systematic review and future research agenda.Public Administration,94(1), 146-166. Jean Paolo G Lacap RMP, A. F. B. E. (2014). Competitiveness and Sustainability of the Hotel Industry: The Case of Hotels in Pampanga.Business Management and Strategy,5(1), 115. Krass, D., Nedorezov, T., Ovchinnikov, A. (2013). Environmental taxes and the choice of green technology.Production and operations management,22(5), 1035-1055. Mitchell, J., Font, X., Li, S. (2015). What is the impact of hotels on local economic development? Applying value chain analysis to individual businesses.Anatolia,26(3), 347-358. Mose, J. A. (2015). The influence of industry competition on the performance of hotel firms in Kenya.Prime Journal of Social Science,4(9), 1169-1179. Prideaux, B. (2013). An investigation into factors that may affect the long term environmental and economic sustainability of tourism in northern Australia. Stentoft Arlbjrn, J., Vagn Freytag, P. (2013). Evidence of lean: a review of international peer-reviewed journal articles.European Business Review,25(2), 174-205. Touboulic, A., Walker, H. (2015). Theories in sustainable supply chain management: a structured literature review.International Journal of Physical Distribution Logistics Management,45(1/2), 16-42. Yang, Z., Cai, J. (2016). Do regional factors matter? Determinants of hotel industry performance in China.Tourism Management,52, 242-253.

The human rights in the USA and around the world

Introduction Nowadays, we live in the world, in which the most of the leading countries declare the supremacy of law based on the democratic values and the human rights. However, the discussions of the problem of the human rights protection are still urgent in the society. The cases of their violations do still occur in the modern world.Advertising We will write a custom term paper sample on The human rights in the USA and around the world specifically for you for only $16.05 $11/page Learn More The aim of this essay is to discuss the problem of human rights in the USA and all over the world. The Definition and Explication of the Human Rights Various organizations as well as the individual scholars explain the term of the human rights from their own point of view. Many of them describe it in context of the issues actual for the society of their native countries. The United Nations Organization proclaimed the Universal Declaration of Human Rights on 10 De cember 1948 (â€Å"Universal Declaration† n.pag.). The document was signed one year after the end of the World War II, when the mankind was concerned about the recovery of the social well-being and about the prevention of the repeat of the terrible events of the WWII in the future. The document laid the foundations of the law protection of the human rights. The first article of the Declaration states, â€Å"All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood† (â€Å"The Universal Declaration† n.pag.). The text of the document supports the highest human values and encourages people to behave ethically in relation to each other. However, we know from history that the simple declaration of the human rights is not enough to make the society free from the bias, hate, and violence. The racial discrimination in the United States was the obvious example in this respect. The decades were necessary to overcome it. The activity of the Bureau of Democracy, Human Rights, and Labor (DRL), which is responsible for the protection of the human rights in the United States, is based on the following key principles: striving to learn the truth and state the facts, taking consistent positions, and facilitating and supporting partnerships (â€Å"Human Rights† n.pag.).Advertising Looking for term paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More The human rights are often supported by the legal documents of the international law and the local law of the particular countries. The individual rights in the US were firstly proclaimed and legally documented in the Declaration of Independence of 1776, which was written by Tomas Jefferson (â€Å"A Brief History† n.pag.). However, the struggle for the human rights and other democratic values did not stop at that time. Nowadays, the US Constitution guarantees the human rights to every citizen and it maintains them as the legal rights (Dowling p.96). Their realization is the responsibility of the US government. Many human rights movements strive to monitor the realization of human rights and make public aware of the cases of their violations. Conclusion In order to sum up all above mentioned, it should be said that the human rights are the vital element of the jural state. They are supported by the numerous legal documents. The Universal Declaration of Human Rights was signed after the WWII. It proclaims the highest values including the personal freedom and the equality of rights for all. In the US, the human rights are guaranteed by the US Constitution. Works Cited â€Å"A Brief History of Human Rights†. Humanrights.com. 2013. Web. Dowling, Noel T. â€Å"Annals of the American Academy of Political and Social Science.† Essential Human Rights 243 (1946): 96-100. Print. â€Å"Human Rig hts†. State.gov. n.d. Web. â€Å"The Universal Declaration of Human Rights†. Un.org. n.d. Web.Advertising We will write a custom term paper sample on The human rights in the USA and around the world specifically for you for only $16.05 $11/page Learn More â€Å"Universal Declaration of Human Rights†. Ohchr.org. 2012. Web. This term paper on The human rights in the USA and around the world was written and submitted by user Emmanuel H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Richard Hamilton

Richard Hamilton Richard Hamilton was born in 1922. He Finished at the Slade School of Art in London in 1951 after working in advertising during the forties. Hamilton’s style was established in 1956 when he finished his work, â€Å"Just what is it that makes today’s homes so appealing†. It was inspired by an Italian artist named Eduardo Paolozzi, who was known for including references to popular culture as well as mechanical elements in his art. Richard Hamilton was one of an independent group who wanted his art to be â€Å"of the moment†, rather than above it. With inspiration from artist Eduardo Paolozzi, Richard Hamilton did various collaborations with other artists that shared his beliefs in art as well as created much of his own using popular culture. In his works he included journalism, cinema, advertising, sex, and television, as well as many other topics that were big in the moment that the art was being created. The idea that advertising could shape the consumer’s desires excited Hamilton, therefore, he used lots of snippets of advertising from magazines and television in his work (Fineberg, 239). This type of art was popular with British pop musicians as well, and when asked to do some work, Richard Hamilton jumped at the chance to create art for the Beatles on their white album in 1967. Hamilton as well as the others in â€Å"The Independent Group† had paved the way for pop art to break through in the sixties. In Lawrence Alloway’s article entitled â€Å"The Arts and the Mass Media†, not a whole lot is said about Richard Hamilton and his works except that he and Eduardo Paolozzi were the forefathers of pop art. What is said about the art created is that the mass media give perpetual lessons in assimilation, instruction in role-taking, the use of new objects, as well as many other things. In essence, popular art, as a whole, offers imagery and plots to control the changes in the world; everything in our... Free Essays on Richard Hamilton Free Essays on Richard Hamilton Richard Hamilton Richard Hamilton was born in 1922. He Finished at the Slade School of Art in London in 1951 after working in advertising during the forties. Hamilton’s style was established in 1956 when he finished his work, â€Å"Just what is it that makes today’s homes so appealing†. It was inspired by an Italian artist named Eduardo Paolozzi, who was known for including references to popular culture as well as mechanical elements in his art. Richard Hamilton was one of an independent group who wanted his art to be â€Å"of the moment†, rather than above it. With inspiration from artist Eduardo Paolozzi, Richard Hamilton did various collaborations with other artists that shared his beliefs in art as well as created much of his own using popular culture. In his works he included journalism, cinema, advertising, sex, and television, as well as many other topics that were big in the moment that the art was being created. The idea that advertising could shape the consumer’s desires excited Hamilton, therefore, he used lots of snippets of advertising from magazines and television in his work (Fineberg, 239). This type of art was popular with British pop musicians as well, and when asked to do some work, Richard Hamilton jumped at the chance to create art for the Beatles on their white album in 1967. Hamilton as well as the others in â€Å"The Independent Group† had paved the way for pop art to break through in the sixties. In Lawrence Alloway’s article entitled â€Å"The Arts and the Mass Media†, not a whole lot is said about Richard Hamilton and his works except that he and Eduardo Paolozzi were the forefathers of pop art. What is said about the art created is that the mass media give perpetual lessons in assimilation, instruction in role-taking, the use of new objects, as well as many other things. In essence, popular art, as a whole, offers imagery and plots to control the changes in the world; everything in our...

Waxing Judgmental about Judgement

Waxing Judgmental about Judgement Waxing Judgmental about Judgement Waxing Judgmental about Judgement By Maeve Maddox A reader commenting on my post about the difference between discreet and discrete was shocked by the spelling judgement in my definition of discreet (â€Å"Showing discernment or judgement in the guidance of one’s own speech and action†): Maeve, where did you find that definition of discreet â€Å"Judgment† is misspelled! For that reader, spelling the word with an â€Å"e† creates a misspelling. Other readers, commenting on other posts, objected to my use of judgment without the â€Å"e†: The verb change keeps its [e] here to indicate that the [g] is soft, not hard. (That is also why judgement is the correct spelling of this word, no matter what anyone says.) and There isn’t a single instance in English that I can think of with a root word ending in â€Å"g† where â€Å"g† has the â€Å"j† sound. The final â€Å"e† is used to cue in the reader to the correct pronunciation of the soft â€Å"g† sound. Therefore, â€Å"judgment† according to the rules of English phonics would be â€Å"jud-GUH-ment†. Clearly WRONG!!So I’ll continue to engage in pointless arguments with those who quibble with my CORRECT spelling of the word. Strong feelings, these. Like â€Å"could care less† and statements like â€Å"my head literally exploded,† the â€Å"judgment vs judgement† issue evokes passion in many English speakers. The first reader was correct to fault me on spelling judgment as judgement, not because judgement is a â€Å"misspelling,† but because I write these posts in standard American English and spelling judgment with an â€Å"e† is contrary to American spelling convention. The other two readers do not indicate what standard dialect they speak. I’m guessing that they are American speakers because they resort to the argument about the â€Å"e† being necessary to the correct pronunciation of the word. British speakers would probably defend the judgement spelling simply on the grounds that it is the preferred British spelling. The suggestion that the spelling judgment would â€Å"according to the rules of English phonics† produce the rendering â€Å"jud-GUH-ment† is preposterous. The word is formed by adding a suffix to the root word: judge+ment. Unlike the â€Å"e† we use to maintain the /j/ sound in words like rage, Marge, and usage, the â€Å"e† in judge is not necessary to signal a /j/ pronunciation. The letter combination dge is a phonogram in its own right, used to represent the /j/ sound. Dropping the â€Å"e† from it is not common, but I cannot imagine that any native speaker would attempt to pronounce dg as anything but /j/. Changeable does need the â€Å"e† to soften the â€Å"g†; judgment, abridgment, and lodgment do not. Look up judgement and lodgement in the OED and you will find the the spellings judgment and lodgment dignified as alternative spellings. (Abridgement is the only spelling given for that word.) According to the OED, [Judgement] is found in spellings with -dgm- from the early 16th century, and by the late 17th century judgment had become the prevailing spelling, although judgement was still commonly found. Kersey (1702) is an unusually early example of a dictionary in which the headword form was given as judgement . During the 19th century the form judgement gained in frequency in British contexts, and is now the usual spelling in general British use, but judgment has remained the standard spelling in British legal contexts when used to refer to a judicial decision, as well as in U.S. usage. In sum, there’s no reason American speakers can’t choose to put an â€Å"e† in judgment if they wish, but there’s nothing historically, phonetically, or morally superior in doing so. And if they’re writing for publication, a U.S. editor would surely correct it. Related posts: Judgement or Judgment? The Difference Between â€Å"Discreet† and â€Å"Discrete† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:Direct and Indirect Objects30 Baseball Idioms5 Keys to Better Sentence Flow

A Catholic Cardinal and the One God of All Assignment

A Catholic Cardinal and the One God of All - Assignment Example The second parallel is difference in opinion regarding suitable approach to the attacks. In both cases, war and dialogue were proposed following the attacks (Volf 40- 44). The positions are very different, to the point that they conflict. Appropriate response to the Constantinople attack is the real difference. Pope Pius II’s letter advocated for violence and was based on the belief that Christians are ready for war while Nicholas’ letter supported dialogue (Volf 40). The statement means that it is impossible count the trinity because God is incomprehensible. An attempt to comprehend God, through counting the Trinity only leads to deviation from the truth that is a mystery (Volf 40). Nicholas of Cusa expected to achieve religious unity in which both Muslims and Christians would worship one and true God. This is because of his belief that the interreligious violence was a result of differences in faith and that dialogue into forging a single faith would attain the unity and prevent further violence (Volf 46,

Apart from assessing the impact of industrialization upon women, it is Essay

Apart from assessing the impact of industrialization upon women, it is also important that our understanding of industrialization itself is determined by the gender division of the workforce - Essay Example ding to the participation of the women in the paid workforce, it is the unpaid household work that accrued new meanings and perceptions, making the eventual understanding of industrial revolution dependant on the vantage point from which a workforce divided on the gender lines tends to envisage it. It is not that earlier the women were not engaged in any kind of work. However, a gendered division of work relegated the women to engage in the unpaid household work, while men were considered to be the primary wage earners who went out and worked to bring the bread to the family table (Crompton 1997). In that context, the industrial revolution while encouraging women to move out and engage in wage labour also to a large extent impacted the economic value and cultural tags associated with the household unpaid work (Crompton 1997). This revised understanding of the household unpaid work in the light of the industrial revolution had far reaching consequences in the overall gender dynamics of the nation. In a preindustrial society, governed by the gendered division of work, the unpaid household work done by women commanded much recognition and a measure of economic worth. However, in an industrialized society, though much of the household chores associated with women like caring for c hildren, cleaning, cooking and the overall management of the household economy and social standing remained the same, in a cultural context, they lost much esteem with the advent of the industrial revolution. This division of labour which hitherto stood to be gendered, in the aftermath of industrial revolution emerged to be a gendered definition of labour, a trend which was amply calcified and consolidated by the industrial revolution. The eventual impact of this degradation of the gendered division of labor into a perceptual gendered defining of labour to a large extent devalued the economic importance of the contributions made by women in the domestic sphere, though to this day they tend

World War I Essay Example for Free

World War I Essay The economy of Christiania steadily grew until before World War I. When the First World War broke out in 1914, Norway declared its neutrality. However, Christiania benefited economically from the war by carrying British cargoes inspite of the loss of Norwegian lives and ships that were caught in the war (Compton 610). After the war Christiania settled back to its normal life. In 1924, Christiania was renamed back to Oslo (â€Å"Oslo: City† 2006). Second World War On April 9, 1940 Oslo was defeated by the Germans almost with only a slight resistance due to the betrayal by Norwegian Officer and Fascist politician Vidkun Quisling who collaborated with the Nazis. As a result, the city was only slightly damaged during the war (Halsey 239). In 1942, Germany installed a puppet government in Norway under National Union leader Vidkun Quisling. However, the Norwegians resisted the Germans and its puppet regime. Oslo became a place of opposition strikes. Other citizens were secretly involved in the large-scale industrial sabotage and espionage on behalf of the allied powers. (â€Å"Oslo† 2006). During their occupation of the city the Nazis used Akershus as a prison and place of execution for those convicted of allied conspiracy and today its the site of Norways Resistance Museum, which provided a detailed account of German takeover and the Norwegian struggle against it (Thodock 2003). The German forces that overran Norway surrendered in May 8, 1945 enabling the exiled King Hakon VII to return to Norway from London in June. Oslo then began to rebuild its ruin buildings while at the same time prosecuted â€Å"about 90,000 alleged cases of treason and defection†. Convicted traitors faced execution foremost of which was Vidkun Quisling (â€Å"Oslo† 2006). When it came to The Cold War, that is the postwar to World War II, two major alliances were created. Although, in World War I a system of alliances did not work, the systems of alliances that formed after World War II were bigger and they werent buddy-buddy alliances. These two alliances were formed to bring peace throughout the world, to end The Cold War, and to prevent anymore future high scale wars. Toward the end of the war, hostility between Norwegians and the German occupying forces grew considerably stronger. A prime cause was the German withdrawal from all fronts. Retreating German units from the fronts in the north, the USSR and Finland, withdrew to Norwegian territory. In the autumn of 1944, the Red Army followed the Germans into Finnmark, where it liberated Kirkenes and the northeastern areas. As the occupying troops retreated, they ordered an evacuation of the entire Norwegian population in Finnmark and in Troms south to Lyngen. In Lyngen, three German army corps dug in. Then the entire region north of Lyngen was burned and destroyed. The destruction included 10,400 homes, bridges, power stations, factories, fishing vessels, telephone facilities and other types of infrastructure. The scorched earth area was much larger than all of Denmark. After the Soviet Red Army crossed into North Norway, a Norwegian military mission and a small number of Norwegian soldiers from Great Britain and Sweden followed. The Russians withdrew from Norway in September 1945, a few months after the German capitulation. When the costs of the war were estimated in Norway, the tally showed that 10,262 Norwegians had been killed, including 3,670 seamen. The Germans had executed 366 and tortured 39 to death. Among political prisoners and members of the underground, 658 died at home and 1,433 abroad. After the war, legal proceedings were initiated against those who had betrayed their country. About 46,000 persons were punished for treason. Among these, 18,000 were sentenced to prison terms, 28,000 were fined and deprived of their rights as citizens. A total of 45 Norwegians and Germans received death sentences, 37 of the executions were carried out. It did not take long for the country to recuperate from the effects of World War II. Industrial production and the gross domestic product were greater in 1946 than in 1938. Three years later, the countrys national wealth had also returned to its pre-war level. Part 3: Major Event in the modern Era of the City The world over there is no other coveted price that comes even in comparison to the Nobel peace prize. It is one of a kind and its importance and value can not be underrated. Oslo helped to promote the preservation of worldwide peace when it was chosen to be the place for the annual awarding of the prestigious Nobel Peace Prize in 1901. Alfred Nobel, a renowned Swedish inventor of the dynamite, left in his will dated November 27, 1895 the order to use some of his fortune as a prize for any individuals, irregardless of his race, who helped promote peace in the world. The Nobel peace was to be specifically awarded to person or persons who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding of peace congresses. In 1901 the first Nobel Prize was awarded to International Red Cross founder Henry Dunant and International Pacifist Frederic Passy. In succeeding years Nobel Peace Prize according to an Oxford Dictionary of Twentieth Century World History, became The worlds most prestigious prize. † The prize was to be awarded by a committee of five persons to be elected by the Norwegian Storting†. The members of the committee are all Norwegians and for more than a hundred years the committee members were able to generally make a respectable and decent selection although controversies were also present. The criteria for choosing the recipients have enabled the world to get acquainted with Norwegian perception or definition of peace. In the study of the recipients of the award, it can be said that the values that Nobel Prize committee members adhered to represented the â€Å"Norwegian version of Western liberal internationalism. Thus, the Norwegian Nobel Committee has been a strong believer in international organizations, from the Inter-Parliamentary Union to the League of Nations and the United Nations†. Moreover, Norwegians believed that â€Å"small nations almost instinctively prefer international law to the might they do not possess, and they believe in the arbitration, mediation and peaceful solution of international disputes†. In this context, the Nobel Prize actively encouraged and awarded humanitarian assistance to the weak and the poor especially with the exercise of their human rights as well as the control of military power that may threatened the peace and order of the world. In a more personal level, Nobel left no explanation as to why he chose the Norwegians to award the Nobel Peace Prize. Educated inferences were presented to explain his action. Nobel may have been aware of the close ties between Sweden and Norway since the latter was once ruled by the former. Aside from that he may have admired Norway’s participation in settling international disputes of the 1890’s. Perhaps he may have regarded Norway as a more peace-oriented and more democratic country than