Entrepreneurship in Tourism and Hospitality

|SOUTHERN CROSS UNIVERSITY | ASSIGNMENT COVER SHEET For use with online accommodation of assignments Please total the entirety of the accompanying subtleties and afterward make this sheet the main page of each record of your task †don't send it as a different archive. Your assignments must be submitted as either Word reports (with . oc expansion, NOT. docx), text archives with . rtf expansion or as . pdf archives. In the event that you wish tosubmit in some other document design please talk about this with your speaker a long time before theassignment accommodation date. |Student Name: |Kalendarev Mikhail | |Student ID No. |22025713 | |Unit Name: |Entrepreneurship in Tourism and Hospitality | |Unit Code: |MNG00427 | |Tutor’s name: |Goh Chye Yeow Terence | |Assignment No. |2 | |Assignment Title: |Opportunity examination report | |Due date: |December 14, 2012 | |Date submitted: |December 13, 2012 | Declaration: I have peruse and comprehend the Rules identifying with Awards (Rule 3. 17) as contained in the University Handbook.I comprehend the punishments that apply for counterfeiting and consent to be limited by these standards. The work I am submitting electronically is completely my own work. |Signed: |Kalendarev Mikhail | |(please type your | |name) | |Date: |13/12/12 | Table of substance Executive Summary3 1. 0Introduction4 . 0 Idea and Competition4 2. 1 Description of the endeavor and Service provision4 2. 3 Why it is innovative4 2. 4 Location5 2. 5 Number of rooms and itsprices6 2. 5. 1 Price determinants7 2. 6 Competition8 2. 7 SWOT analysis9 3. 0 Target Market and explanations behind its selection11 3. 1 Industry Analysis12 3. 1. 1 Demand viewpoint †dealing intensity of buyers12 3. 1. 2 Supply standpoint †dealing intensity of suppliers13 3. 1. 3 Barriers to Entry13 3. 1. 4 Substitutes14 3. 2 Market Size and Trends14 3. 3 Estimated Market Value17 3. 4 Estimated Sales Forecasts for 3 Years17 . 0 Assessing my enterprising capabilities17 4. 1 Team Experience18 4. 2 HR Plan18 5. 0 Equipment needs20 7. 0 Conclusion22 REFERENCE LIST23 Executive Summary This open door examination report is planned for surveying the possibility of new lodging venture with its fundamental area in Denmark. It covers four significant segments. The principal segment portrays the venture thought including why it is creative and distinguishes the contenders for the thought. The innovatory thought is to assemble eco-accommodating inn with assortment of feasible arrangements coordinated in it.The principle establishment at the cost is esteem based estimating strategy with the fundamental motivation to catch green consumers’ esteem through ecologically agreeable lodging arrangements. The standards for breaking down our rivals incorporate close area to the air terminal just as inn star-rating. This area finishes by recognizing the qualities, shortcomings, openings and dangers for our new inn adventure. The subsequent segment evaluates the m arket for the thought by perceiving the objective market and performing industry and market analysis.The target showcase is sub-partitioned into three distinct fragments which are experienced markets (B2C), development markets (B2C and B2B) and green shoppers. It contains progressively definite clarification why these sections were picked. To play out an industry and market examination, a few exploration strategies were utilized among which are essential and auxiliary techniques. It is the third segment that gives a reason for human asset exercises and assesses the colleagues. This area investigates on myself as a business visionary and gives HR plan an appraisal of experience, grant classes and pay rates alloted to each group member.Finally, the last segment produces introductory set-up costs required for new pursuit creation. It incorporates gear requirements for preparing 50 hotels’ rooms and indicates time span for the acquisition all things considered. First year’ s benefit and misfortune table is likewise introduced in this segment. Presentation The paper presents opportunity examination report for another cordiality adventure. The fundamental reason for this report is to characterize the degree to which this venture is doable. Kalendarev’s Skyscraper Copenhagen Hotel will be another inventive lodging situated in Denmark which will have plainly recognized objective to target green consumers.The new inn will have a lot of innovatory eco-accommodating arrangements which will profit green customers who care about nature. 2. 0 Idea and Competition 2. 1 Description of the endeavor and Service arrangement The possibility of the undertaking is to open another innovatory 4-star lodging which will be ecologically well disposed. It will be uncommonly planned and built for explorers who care about the earth (green customers) and wish to encounter unprecedented work excursion or city break. The inn will be named Kalendarev’s Skyscraper Cop enhagen Hotel.The hotel’s focal area is wanted to be at another locale Oresundsmotorvejen of Copenhagen city (Denmark) which will permit it to concentrate on the littlest subtleties by giving a mix of Scandinavian solace, manageability and quality. Other than its maintainability endeavors both for humanity and condition, Kalendarev’s Skyscraper Copenhagen Hotel will be commonly known as the primary lodging that will convey excellent assistance experience for green explorers. This would be represented as far as the worldwide guidelines gave inside the inn which is uncommon in the region where the inn is constructed. . 3 Why it is inventive Our arrangements incorporate to get a few honors among which is Ecotourism grant and to be the main Danish lodging in the class of the World’s Greenest Hotel. The inn should stand apart for its wonderful inside and engineering which will be an exceptional mix of old style Scandinavian structure and Paustian present day plan. Wh at's more, the inn building will be coordinated with eco-accommodating arrangements and concerning our arrangement our inn building ought to turn into the principal CO-2 neural in Denmark.To accomplish these, we will execute assortment of green situation procedures and will be partaking at yearly National Awards to be perceived by green buyers. By marking the agreement with UN Global Compact, Kalendarev’s Skyscraper Copenhagen Hotel will prove that the lodging focuses on something other than quality and solace. Its uniqueness will be tended to in hotel’s developments and abundance of green innovation arrangements which will be exhibited from the hotel’s outside up to the room’s cleanser bottle. Similarly, the hotel’s exterior will be coordinated with the biggest sunlight based park in North Europe.With the utilization of innovatory groundwater-based cooling and warming framework, Kalendarev’s Skyscraper Copenhagen Hotel will be the primary D anish lodging to diminish vitality utilization by about 90 percent. Thusly, lodging will continue solid and safe condition inside the setting and its rooms. What's more, the utilization of the assortment of supportable activities will bring about reducing CO2-discharges and will separate the inn from its opposition. All previously mentioned could be accomplished from the productive utilization of natural food in the hotel’s Scandinavian eatery just as power protection in the lodging passages. 2. Area The area of Kalendarev’s Skyscraper Copenhagen Hotel will be between Copenhagen air terminal and downtown area which is helpful. The principle reason is on the grounds that picking this area will permit guests to arrive at the inn in not many moment drives. Likewise, since air terminal is near lodging, free transport administration will give voyagers chance to come to inn straightforwardly from the air terminal. Another particular bit of leeway why this property was picked is on the grounds that metro station will be exceptionally near Kalendarev’s Skyscraper Copenhagen Hotel which will ease tourist’s venture in investigating various attractions inside Copenhagen city.By and huge, Kalendarev’s Skyscraper Copenhagen Hotel will be an extraordinary decision for businessmen, relaxation travelers and green customers in Copenhagen. The image 1 beneath shows the evaluated area of Kalendarev’s Skyscraper Copenhagen Hotel which is near Copenhagen Airport and downtown area. The road name is Oresundsmotorvejen which is another region. [pic]Picture 1. Source: Google Maps, 2012 2. 5 Number of rooms and itsprices The inn will have 50 rooms altogether. There will be 30 standard rooms, 10 grand rooms and 10 family rooms. Our primary evaluating strategy would be esteem based pricing.The key characteristics which separate the item include quality, physical traits, style, brand and administration (Pricing for Profit, 2012). Our green shopper s who care about the earth will value the reality of following through on greater expenses for the developments and ecologically neighborly arrangements coordinated into our lodging. Consequently, it is shrewd to set worth based estimating rather than cost-based evaluating to catch that esteem. As Figure 1 shows, Kalendarev’s Skyscraper Copenhagen Hotel will give the accompanying costs to their rooms recorded beneath: Room Type |Rate (US$) | |STANDARD ROOM |$â 359. 97 | |DELUXE ROOM |$â 359. 40 | |FAMILY ROOM |$â 325. 09 | Figure 1 The weekend rates will be higher than week days. There would be no reserving expenses. We will offer one free night if our rooms are offered at less expensive costs elsewhere.In expansion, if the voyager changes his/her arrangements, inn will permit a change or scratch-off of the booking without any concerns. 2. 5. 1 Price determinants Friedhelm Tringas (2012) recommends that on the off chance that the interest or inhabitance rate increments while gracefully of lodgings diminishes, the inn must charge more significant expenses for its rooms. It is indispensable for lodging to cover its operational costs. In this way, it's anything but a decent practice to sell all rooms at a similar rate since it once in a while creates great inhabitance and normal rates (Friedhelm Tringas, 2012).The key rate determinants for our inn are distinguished as follows: †Location †Demand â€

Pop art music free essay sample

Popular music a term that initially gets from a shortening of mainstream) is a classification of famous music which started in its advanced structure in the backtalk, getting from awesome. The terms mainstream music and popular music are frequently utilized Interchangeably, despite the fact that the previous is a portrayal of mums a class, popular music Is exceptionally varied, regularly obtaining components from different styles including urban, move, rock, Latin and nation, in any case, there are center components which characterize pop.Such Include commonly short-to-medium length tunes, written In a fundamental arrangement (frequently the eradicate chorale structure), just as the normal work of rehashed themes, melodic tunes, and infectious snares. CLC which Is well known (and can Include any style). Purported unadulterated popular music, for example, power pop, includes every one of these components, utilizing electric guitars, drums and bass for Instrumentation; For the situation of such music, the shopping center objective Is typically that of being pleasurable to tune in to, as opposed to having a lot of creative profundity. We will compose a custom article test on Popular workmanship music or then again any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Popular music Is for the most part thought of as a kind which Is economically recorded and wants to have a mass crowd bid Hatch and Stephen Milliard characterize popular music as a group of music which is discernable from well known, jazz, and people music. As per Pete Serge, popular music is proficient music which draws upon both people music and expressive arts music.Although popular music is regularly observed as situated towards the singles diagrams it isn't the aggregate of all outline music, which has consistently contained tunes from an assortment of sources, including old style, jazz, rock, and curiosity tunes, while popular music as a sort is typically observed as existing and growing independently. Consequently popular music might be utilized to portray an unmistakable class, focused on an adolescent market, frequently described as a gentler choice to awesome.

Personality and Style Essay Example | Topics and Well Written Essays - 250 words

Character and Style - Essay Example At work, this is one of the most significant attributes that the administration or managers are searching for a worker or individual from a group and a pioneer. My supervisor will keep me at work since I am the sort of individual who won't let him down with regards to my obligations and obligations. I can be a decent pioneer and the best supporter as well. I am the sort of individual who esteems balance and soundness. Therefore an individual like me will acquire more companions and keep up great relationship to associates. Then again, it's not possible to satisfy all the individuals with who I am and what sorts of character I have. Being traditional and awkward with change will make it hard to adapt up to others. With the quick changes that we are as of now encountering in our general public, somebody who is as consistent as I am will clearly win more rivals and pundits if not foes. I can be cynical with changes occurring in the general public since I am somebody who simply needs to remain and esteem what is organized and what is standard and customary. I am not a fanatic of progress since I consider it to be something damaging of strength and harmony which I esteem the most. An individual like me is an individual who is extremely wary about everything.

Including all Learners in the Classroom Enviroment Free Essays

string(208) found through instructive achievement, it is of import to recognize that they mean a child ‘s ain â€Å" individual achievement † and, potentially, will non ever be National Curriculum attainments. The issue of the incorporation of children with specific instructive requests ( SEN ) into standard schools, ventures and specialists approaches has become non simply a cutting edge political request about the best way to run the guidance framework ( MacBeath, 2006 ) , however is for a few, other than a contention on cultural justness ( Conner and Ferri, 2007 ) . Rachael Hurst, undertaking chief of Disability Awareness in real life, feels that existent equity in the guidance framework will simply be accomplished when each child with a disablement or specific instructive interest has the option to all standard tutoring ( Inham, 2000 ) . Thus, Oliver ( 1996 ) contends that in being denied dish to a similar course of study and endeavors as every other person, the instructive odds of children with SEN will remain restricted. We will compose a custom exposition test on Remembering all Learners for the Classroom Enviroment or on the other hand any comparable theme just for you Request Now The meaning of SEN is marginally characterized In the Particular Educational Needs Code of Practice ( DfES, 2001a ) . It states on the one manus, that ‘there are no troublesome and quick classs of specific instructive interest ‘ , that ‘every kid is separated from everyone else ‘ and that ‘there is a wide range of specific instructive requests that are regularly between related ‘ ( DfES, 2001a, Section 52 ) . Farrel ( 2003 ) high spots these as of import focuses when looking to flexibly for any child with an additional interest, or so any child in your consideration. On the different manus, it other than states that ‘there are explicit requests that ordinarily identify with exceptional kinds of harm ‘ , and that ‘individual understudies may hold requests which length at least two nations ‘ , in any case, the ‘needs and requests can helpfully be composed into nations ‘ ( DfES, 2001a, Section 53 ) . These incorpora te conveying, information, conduct, and tangible. It ought to be noted, in any case, that it is habitually the occurrence that all children, regardless of the SEN articulation, could suffer in at least one of these nations, and it is acceptable example to cognize how to cover with these nations to help all children. ( King-singes, 2008 ) . Contemporary specialists strategy has attempted to take answerability and demonstrate sincerity to this point through resolution law ( Warnock, 1978, Act on Children with Special Educational Needs, 1981, 2001. Instruction Reform Act, 1988 and the Education Bill, 1992 ) . The SEN codification of example, among different undertakings, was acquainted with look for and ensure that any child, independent of interest, could hold their guidance accommodated in a standard school ( DfES, 2001a ) , and should hold the intercession of any understudy concerning dish and achievement ( DfEE, 1999, DfES, 2001a, B, 2003, 2004, 2006, DoH, 2001 ) . Conceivable future specialists strategy other than demonstrates an interest to continue bring forthing efficacious projects to let all children, independent of interest, to go to standard schools and accomplish as well as could be expected, with a â€Å" reappraisal of SEN stipulation † perchance required ( Alexander, 2009, DCSF, 2009 ) . Both Mitchell ( 2005 ) and MacBeath ( 2006 ) are incredulous of whether it is truly ever conceivable to be to the full comprehensive, and propose that there are a few hindrances, to make with society and clinical issues, that only can non be expelled. Burr ( 2003 ) recommends that these sole obstructions are established in the cultural wonders of our human advancement, and it is this that forms into cultural settings, diminishing dish to minorities. This is also called social-constructionism. Burr proceeds to recommend that, in the occasion of extra and complex requests, we have a cultural setting into which we place kids ‘s conditions and conduct, and it is this that chooses what a child is or is non prepared to do, in â€Å" our † standard society, this is also called inside bits ( Fromm, 2001 ) . It is, subsequently of import to debate this conduct as it is just ever an immediate reaction to the situation wherein we get ourselves. We have to take kids ‘s conduct on an individual balance, and non let ourselves to bring down their conduct to a word that will portray them, whatever their conduct ( Abrams et al, 2005, Young, 2008, Bearne, 1996 ) . Hardey ( 1998 ) and Makin ( 1995 ) expand this point by inquisitive: who chooses what an extra or complex interest is? The idea of whether a child is utilitarian or non is setting subordinate. Specialists can every now and again succumb to learning kids with â€Å" legitimate showing technique † for a â€Å" basic † class. Be that as it may, any child who can't larn â€Å" generally † in those conditions is viewed as disabled, in great example or through cultural setting, this may ne’er be the occasion. It is, in this way, contended disablement is a guide of the earth where children are obliged to larn, also called â€Å" the cultural hypothetical record of disablement † . It is dependent upon the teacher to hinder down the boundaries that compel kids ‘s commitment, in the event that we can non ever interfere with them for the demonstration of larning itself ( Ainscow, 1999, Rose et Al, 1993, Sebba et Al, 1994 ) . It is non simply sociological elements which should be tended to, there are other than the mental speculations of naming, life openings ( Meighau A ; Harber, 2007 Norwich A ; Kelly, 2004 ) and the bringing down of instructive viewpoints ( Hayes, 2004 ) . â€Å" Students will in general execute each piece great, or each piece seriously as their teachers or society anticipates that them should. † ( Meighau A ; Harber, 2007 p.367 ) This can be conveyed to them frequently in unwilled or oblivious manners, also called â€Å" inevitable anticipation † which will harm a child ‘s self-idea. This calls for teachers to be conscious while using SEN proclamation marks, or somewhere in the vicinity, any distorted conduct by a child, as a feeling to their securing or natural requests. Experts can use their feelings and investigations of an individual being marked as an attendant, however ought to ever get to cognize their researchers and pull their ain choices about their requests ( Bearne, 1996, Meighau A ; Harber, 2007, Cheminais, 2007 ) . Hayes ( 2004 ) , Ainscow ( 1999 ) and Cheminais ( 2007 ) all topographic point significance on non using the extra or complex requests of children as a plausible excuse to bring down instructive viewpoints. Hayes proposes that self-pride is to be found through instructive achievement, it is of import to distinguish that they mean a child ‘s ain â€Å" individual achievement † and, conceivably, will non ever be National Curriculum fulfillments. You read Remembering all Learners for the Classroom Enviroment in classification Paper models The recommendation is the idea of â€Å" esteem included † being presented ( Hayes, 2004, Alexander, 2009 ) . Hayes recommends this is just conceivable through looking to limit obstructions to larning ( as medicinally accomplishable ) , by hindering down each piece numerous potential boundaries to commitment, also called holding equivalent worth for researchers ( Rogers, 1983 ) . There other than should be a â€Å" positive and unc onditioned regard † for all researchers ( Hayes, 2004, p134, Griddens, 1998 ) . Ecclestone ( 2003 ) and Bearne ( 1996 ) propose that educators need to hold the viewpoint to do it unsuitable to use obstructions to commitment as an explanation for a child to be not able to participate in an action, change it with the goal that they can make it ( Nind et Al, 2005 ) ! The bearing of these hindrances to commitment can be supported by three hypothetical examples. One, being the essential develop of cognizing your researchers ‘ ( Norwich A ; Kelly, 2004, Nind et Al, 2005 ) qualification of the course of study to oblige everybody ( King-singes, 2008, Bearne, 1999, McNamara A ; Moreton, 1997 ) and, two, useful summative and developmental evaluation, educating future example. Ruler burns ( 2008 ) truly expresses that â€Å" a collection of versatile encouraging strategies are viable for students with and without disablements † ( 2008, p55 ) . Research has demonstrated that the general guidance course of study, with help from qualification, can ensure that all researchers be taught effectively ( Cole, 2005 ) . Rose and Meyer ( 2000a, B ) propose the venture of â€Å" cosmopolitan plan obtaining † . These are procedures dependent on three classs, chief, how the securing is spoken to the children ( for delineation visual or haptic strategies ) , furthermore, the acquiescence to the way that children participate in larning exercises in changed ways, and thirdly, the basic truth that children may wish to show their procurement in various manners ( spoken, drawn or composed ) . In the event that this perfect can be utilized in simultaneousness with Nind et Al ‘s ( 2005 ) technique of arranging, learning and estimating extra instructive requests, with related instructing strategies to cover the announced requests, so this will, non only hinder down the boundaries to commitment for children of SEN, however will other than help all researchers ( Solity and Bull, 1987 ) . These two examples will aid the arrangement of future learning through the two sorts of examination. Norwich A ; Kelly ( 2004 ) offer declaration to the case of self-appraisal non being totally for standard understudies, all children have basic assumptions on how they see their obtaining taking topographic point, and this data ought to ever educate your henceforth example and showing strategy ( Bearne. 1999 ) . The SEN codification of example ( 2001a ) proposes the use of Individual Education Plans ( IEPs ) when covering with extra and comple

The Difference Between Emigrate and Immigrate

The Difference Between Emigrate and Immigrate These two action words have comparable implications, yet they contrast in purpose of view.Emigrate intends to leave one nation to settle in another. Move intends to settle in a nation where one isnt a local. ​Emigrate stresses leaving; ​immigrate stresses showing up. For instance, from the perspective of the British, you emigrate when you leave England to settle in Canada. From the perspective of the Canadians, you have moved to Canada and are viewed as an outsider. Emigrate portrays the move comparative with the spot of takeoff. Move depicts it comparative with the spot of appearance. Models The film Amreeka recounts to the narrative of a Palestinian mother and child who emigrate from the West Bank to Illinois.The present day American Christmas tree started with German Lutherans and spread to Pennsylvania after they started to move here in the eighteenth century. Work on Understanding the Difference (a) When my grandparents chose to _____ to the U.S., there was nobody hanging tight for them here.(b) At the finish of the Greco-Turkish War of 1919â€1922, thousandsâ of individuals were constrained to _____ from Asia Minor to Greece. Answers (a) When my grandparents chose toâ immigrateâ to the U.S., there was nobody hanging tight for them here.(b) At the finish of the Greco-Turkish War of 1919â€1922, thousandsâ of individuals were constrained to emigrate from Asia Minor to Greece.

Inside The Minds Of SIPA Students May Edition COLUMBIA UNIVERSITY - SIPA Admissions Blog

Inside The Minds Of SIPA Students May Edition COLUMBIA UNIVERSITY - SIPA Admissions Blog Seeples, as SIPA students are affectionately called, are always a busy bunch. Whether they are rallying against injustices in Venezuela, preparing for international travel to North Korea, or interning at the United Nations, students are always on the move and always pursuing their interests. However, the end of the semester means that students are more swamped than usual. Here are some of the things occupying SIPA students’ brain space at the moment: Finals Ah, the dreaded F-word. With May just a day away, SIPA students are in crunch mode as their classes quickly wind down and final exams lurk around the corner. Long nights in the library have become the norm, and study sessions with friends abound. Though SIPA students are a high-achieving group, many students just want to teleport themselves to the end of the month when their exams will have ended and they have diplomas in their hands. Assistantships Student Affairs recently released the first round of assistantships, which notifies first-year students of the jobs they will work at in order to receive their fellowship funding. Seeples are excited by the prospect of having part of their tuition funds figured out, and many are weighing how to pay the remainder of the balance. Jobs Second-year students are in the throes of the all-encompassing job search, which requires them to dance between informal coffee meetups, interviews, and the dreaded, aforementioned final, all while keeping their eye focused on…. Graduation The culmination of second-year students’ class work at SIPA is quickly approaching. On May 22, second-year students will be recognized for their late nights spent cramming in Lehman, hours toiled over group projects, persistence finishing the economics and statistics requirements, and general all-around hard work. May 22 feels so close, and yet, so far…

Measuring Consumer Satisfaction In Online Banking Finance Essay - Free Essay Example

Advances in electronic banking technology have created new ways of handling daily banking affairs, especially via the online banking channel. The acceptance of online banking services varies based on the customer perceptions, this research measures the acceptance of online banking in the light of Technology Acceptance Model. On the basis of a TAM literature and e-banking studies, we modified and used a model indicating online-banking acceptance among private banking customers in Bahrain. The model was tested with a survey sample, which was analyzed by SPSS program. The results of the research indicate that perceived usefulness and information on online banking on the Web site were the main factors influencing Online-banking acceptance. Since the mid-1990s, there has been a fundamental shift in banking delivery channels toward using self-service channels such as online banking services. During the past years online banking acceptance has been rapid and currently 55 percent of the p rivate banking customers in Bahrain have an online banking contract with their bank. A line with the rapid development of technology, consumers are attracted to this application because of it convenience and the way it ease their lives (Anguelov et al. 2004). Of course, Bahrain like other countries aims to cope with the rapidly changing technology in order to provide a better way of life in the future by moving from the traditional way of doing transactions to electronic applications for example e- government, e-learning, e-commerce and e-banking. Therefore we chose to present one of these topics which is the online Banking because as we are working in the banking industry in Bahrain we want to measure consumer satisfaction in online banking to provide a portfolio which would be valuable for banks to retain and gain more users of online banking. Online banking in this study is defined as an Internet portal, through which customers can use different kinds of banking services ranging from bill payment to making investments. Therefore banks Web sites that offer only information on their pages without possibility to do any transactions are not qualified as online banking services. The goal of this study is to detect of the most important factors that influence online banking acceptance in the light of the technology acceptance model (TAM). More precisely, online banking acceptance will be studied from the information systems acceptance point of view referring to the idea that consumers are using banks information system (online banking service) directly and hence more knowledge on the factors that affect information systems adoption is needed in order to better understand and facilitate the acceptance. 1.1 Research Problem The main problem of this study is to investigate and explore the application of Online Banking in Bahrain in terms of the customers. For more specification, the main problem was divided into the following two sub problems: T he impact of individual differences among users of Online Banking. The advantages and disadvantages of online banking from the customer perspective. 1.2 Research Objectives This study aims to: Represent the impact of individual differences among users of Online Banking Highlight the advantages and disadvantages of online banking from the customers perspective. Find out which sector of the society is not satisfied of the online banking and what the reasons that stand beyond this attitude are. 1.3 Research Importance Online banking has been an important way of conducting business by satisfying potential customers and gaining a competitive advantage. Therefore, the need of understanding the impact of individual differences of the customers as well as the benefits that the customers get when using online banking will allow the banks who do not apply this technology to thing seriously about applying it. Furthermore, emphasizes on the application of online banking for the banks that already applied it and try to customize the functions and the layout of the application base on the customers feedback. 1.4 Research Methodology In order to measure the satisfaction of online banking consumers, and how different factors such as: (Age, Gender, Occupation, Income, Education and Culture) effect on it. One of the techniques we use to evaluate consumer satisfaction is a basic consumer questionnaire; we have conducted a sample of 200 consumers randomly. The participants were located at different regions within the country and worked for different organizations. The questionnaire consisted of some multiple-choice questions, while the majority of items were measured on a seven-point Likert scale, ranging from strongly disagree to strongly agree and very likely to very unlikely. The survey was intended to elicit opinions of consumers regarding the use of online banking service. 1.5 Research Structure This study is divided into four parts: the f irst part contains an introduction a long with research problem, research objectives, research importance, a brief of research methodology, part two is literature review on online banking and information systems acceptance model (TAM). The third part discusses in details the research methodology used in this work gather the necessary data. The forth part represents the challenges comprises of the results and analysis. In this part the data is analyzed using a factor, regression and correlation analyses. The final part consists of the conclusions and practical recommendation. 2. Literature Review The global business environment witnessed many changes in the last decade of the 20th century, among which is electronic commerce, or exchange of products and services through Internet and telecommunication networks (Kalakota Whinston, 1997). Most of the industries have been influenced by this emerging technology-based approach to business (Gunasekaran Love, 1999). Howev er, the impact of electronic commerce has been apparent in the banking and financial services industry when compared with other industry segments (Bughin, 2004; eMarketer, 2000). From the Asian market experience, it is clear that Internet banking is here to stay and will be a major channel to acquire and service customers. Recently, Internet usage and Internet banking has grown to more than 45.4 million in the Asia Pacific region (G. Kannabiran P.C. Narayan, 2005). It has been found (LiaoCheung, 2002) that individual expectations regarding accuracy, security, transactions speed, user-friendliness, user involvement, and convenience were the most important quality attributes in the perceived usefulness of Internet-based e-banking.Many researchers have argued that trust is essential for understanding interpersonal behavior and is relevant to e-banking. (Gefen, 2002; Jarvenpaa, Tractinsky, Vitale, 2000). Online banking acceptance has gained special attention in academic studies d uring the past five years as, for instance, banking journals have devoted special issues on the topic (e.g. Karjaluoto et al., 2002; Waite and Harrison, 2002; Bradley and Stewart, 2003; Gerrard and Cunningham, 2003; Mukherjee and Nath, 2003). We can find two fundamental reasons underlying online banking development and diffusion. First, banks get notable cost savings by offering online banking services. It has been proved that online banking channel is the cheapest delivery channel for banking products once established (Sathye, 1999; Robinson, 2000; Giglio, 2002). Second, banks have reduced their branch networks and downsized the number of service staff, which have paved the way to self-service channels as quite many customers felt that branch banking took too much time and effort (Karjaluoto et al., 2003). Therefore, time and cost savings and freedom from place have been found the main reasons underlying online banking acceptance (Polatoglu and Ekin, 2001; Black et al., 2002; Ho wcroft et al.,2002). Several studies indicate that online bankers are the most profitable and wealthiest segment to banks (Mols, 1998; Robinson, 2000; Sheshunoff, 2000). On this basis, no bank today can underestimate the power of the online channel. Luxman (1999) for instance estimates that in the near future the online channel reinforces its importance especially in the countryside, where banks have closed many branches. Without the possibility of managing banking affairs directly from home or office, customers easily perceive troubles in managing their financial affairs such as paying bills. As noted, online banking offers many benefits to banks as well as to customers. However, in global terms the majority of private bankers are still not using online banking channel. There exist multiple reasons for this. To start with, customers need to have an access to the Internet in order to utilize the service. Furthermore, new online users need first to learn how to use the service (Mols et al., 1999). Second, nonusers often complain that online banking has no social dimension, i.e. you are not served in the way you are in a face-to-face situation at branch (Mattila et al., 2003). Third, customers have been afraid of security issues (Sathye, 1999; Hamlet and Strube, 2000; Howcroft et al., 2002). However, this situation is changing as the online banking channel has proven to be safe to use and no misuse has been reported by the media in Bahrain. Organizations invest in information systems for many reasons, for example cutting costs, producing more without increasing costs, improving the quality of services or products (Lederer et al., 1998). It has been noted that users attitudes towards and acceptance of a new information system have a critical impact on successful information system adoption (Davis, 1989; Venkatesh and Davis, 1996; Succi and Walter, 1999). If users are not willing to accept the information system, it will not bring full benefits to the organization (Davis, 1993; Davis and Venkatesh, 1996). The more accepting of a new information system the users are, the more willing they are to make changes in their practices and use their time and effort to actually start using the new information system (Succi and Walter, 1999). A system that satisfies users needs reinforces satisfaction with the system and is a perceptual or subjective measure of system success. Similarly, usage of a system can be an indicator of information system success and computer acceptance in some cases. Whether the system is regarded as good or bad depends on how the user feels about the system. Especially if the users do not rely on the system and its information their behavior toward the system could be negative. Success is not necessarily dependent of the technical quality of the system (Ives et al., 1983). Using the system is connected with the effectiveness of the system systems that users regard as useless cannot be effective. Therefore it is important to find out the reasons why people decide to use or not to use information system (IS). This knowledge will help both systems designers and developers in their work (Mathieson, 1991) One of the most utilized model in studying information system acceptance is the technology acceptance model (TAM) (Davis et al., 1989; Mathieson, 1991; Davis and Venkatesh, 1996; Gefen and Straub, 2000; Al-Gahtani, 2001) in which system use (actual behavior) is determined by perceived usefulness (PU) and perceived ease of use (PEOU) relating to the attitude toward use that relates to intention and finally to behavior. According to the TAM these two beliefs are of primary significance for computer acceptance. PU refers to the prospective users subjective likelihood that the use of a certain application will increase his or her performance. PEOU is defined as the degree to which the prospective user expects the potential system to be free of effort (Davis et al., 1989). According to De Lone and McLean (1992) system use as the dependent variable is acceptable, if system usage is not required. Although the TAM has been tested widely with different samples in different situations and proved to be valid and reliable model explaining information system acceptance and use (Mathieson, 1991; Davis and Venkatesh, 1996,), many extensions to the original TAM have been proposed (e.g. Venkatesh and Speier, 1999; Venkatesh and Davis, 2000; Venkatesh et al., 2002; Henderson and Divett, 2003; Lu et al., 2003). Recently, Venkatesh and Davis (2000) extended the original TAM by introducing the second generation of the model labeled TAM2 to explain how subjective norms and cognitive instrumental processes affect perceived usefulness and intentions. TAM is based on the theory of reasoned action (TRA) (Fishbein and Ajzen, 1975; Ajzen and Fishbein, 1980), which is concerned with the determinants of consciously intended behaviours (Ajzen and Fishbein, 1980; Davis et al., 1989). Dev elopment of TRA started in 1950s and the first research concerning TRA was published in 1967 (Ajzen and Fishbein, 1980). Since 1967 TRA has been developed, tested and used extensively and its extension, the theory of planned behaviour (TPB) (Ajzen, 1991) utilized widely. TRA has proven successful in predicting and explaining behaviour across a wide variety of domains. TRA is based on the assumption that consumers behave rationally and that they collect and evaluate systematically all of the available information. Additionally, TRA assumes that people also take into account the effects of their possible actions and based on this reasoning make decision whether or not to take action (Ajzen and Fishbein, 1980). Individuals would use computers if they have a feeling that there could be positive benefits (outcomes) associated with using them (Compeau and Higgins, 1995). From the information systems perspective one relevant element of TRA is its assertion that any other factor that influences behaviour for example systems design variables, user characteristics, task characteristics, political influences and organizational structure do so only indirectly by influencing attitude toward behavior, subjective norm or their relative weights (Davis et al., 1989). Although the TAM and the TRA share many issues they have some considerable differences. The first difference is that according to TRA beliefs are bound to context and hence they can not be generalised. Contrary to that, TAM states that PEOU and PU are issues that have an effect on acceptance of all information systems. The other significant difference is that in TRA all beliefs are summed together, but in the TAMboth beliefs are seen as distinct constructs. Modelling each belief separately allows researchers to better trace influences of all of the affecting factors on information systems acceptance (Davis et al., 1989). TAM has been tested in many studies (see, for example, Davis, 1989; Davis et al., 1989; Mathieson, 1991; Adams et al., 1992; Davis, 1993; Segars and Grover, 1993; Taylor and Todd, 1995), and it has been found that TAMs ability to explain attitude toward using an information system is better than other models (TRA and TPB) (Mathieson, 1991). These studies have found that TAM consistently explains a significant amount of the variance (typically around 40 percent) in usage intentions and behaviour. The use of an information system has been understood in many studies as the user acceptance of the information system in question (Davis et al., 1989; Davis, 1993; Al-Gahtani, 2001). In other words the use of information system acts as an indicator for information systems acceptance. 3. Research Methodology Our research was based on several related articles in respect to similar subjects that were searched from electronic library. Data for this study was collected by the means of a survey conducted in Kingdom of Bahrain in December 2009 to obtain opinions and examine the behavior of customers toward the use of online banking. A total of 200 questionnaire forms were delivered to respondents of which 120 were returned giving a response rate of 63 percent. Questionnaires were filled in three different places, at work place, at two well known banks who applies online baking, and at famous coffee shop. This resulted in a sample that was well distributed in terms of demographic information (e.g. age, income, and education). The questionnaire (shown in Appendix I) consisted of questions that were related to background, possible factors affecting acceptance of online banking and use of online banking services. Likert five point scales ranging from strongly agree to strongly disagree were used as a basis of questions. Based on this information the questionnaire was modified and finalized. On the basis of previous studies on computer and information systems acceptance, the use of the information system was chosen to be the indicator for succ ess. The use of online banking services was chosen as the dependent variable in the model. 4. Challenges In this study, we have challenged the customer satisfaction ambiguous view on online Banking. Therefore, we have referred to the model (as shown below) indicating online banking acceptance among private banking customers in Bahrain through using TAM literature and e banking studies. The Existing System Based on the literature review, a model indicating the acceptance of online banking was developed (Figure 1). The model consists of five factors that we posit to have an effect on acceptance of online banking. Source: Davis, F.D. (1989), Perceived usefulness, perceived ease of use, and user acceptance of information technology, MIS Quarterly, September, pp. 319-40. Perceived usefulness PU and perceived ease of use PEOU In TAM, PU is a significant factor affecting acceptance of an information system (Davis et al., 1989). Davis defined PU as the degree to which a person believes that using a particular system would enhance his or her job performance (Davis, 1989). PEOU is another major factor that affects acceptance of information system (Davis et al., 1989). PEOU is defined as the degree to which a person believes that using a particular system would be free of effort (Davis, 1989). Therefore an application perceived to be easier to use than another is more likely to be accepted by users. By applying this model into online banking: H1. Perceived usefulness (PU) has a positive effect on consumer acceptance of online banking H2. Perceived ease of use (PEOU) has a positive effect on consumer acceptance of online banking Perceived enjoyment Enjoyment refers to the extent to which the activity of using a computer is perceived to be enjoyable (Davis et al., 1992). Perceived enjoyment differs from Perceived usefulness, PU which can be seen as an extrinsic motivation whereas perceived enjoyment (PE) as an intrinsic motivation to use in formation systems. A number of studies on PE (Davis et al., 1992; Igbaria et al., 1995; Teo et al., 1999) have noticed that intention to use computers is highly affected by PE. Igbaria et al. (1995) found that PE correlates positively with time of use but not with frequency of use or number of tasks. In contrast Teo et al. (1999) noted that PE correlates positively with frequency of Internet usage and daily Internet usage. Definitions of perceived fun and perceived playfulness are almost similar to the concept of PE. These terms are all handled as the same. According to Igbaria et al. (1994) perceived fun refers to the performance of an activity for no obvious reinforcement other than the process of performing the activity. They found that system usage and the perceived fun were positively correlated with each other. Moon and Kim (2001) define perceived playfulness as consisting of three parts: concentration, curiosity and enjoyment. They discovered that the perceived playfulness had a significant impact on the intention to use the Internet. On this basis, it is expected that PE affects the acceptance of online banking: H3. Perceived enjoyment (PE) has a positive effect on consumer acceptance of online banking Amount of information on online banking The amount of information consumers have about online banking has been identified as a major factor impacting the acceptance of online banking. According to Sathye (1999) while the use of online banking services is quite new experience to many people, low awareness of online banking is a major factor in causing people not to get benefit from online banking. In an empirical study of Australian consumers Sathye (1999) found that consumers were unaware about the possibilities, advantages/disadvantages involved with online banking. Thus, this hypothesis applies: H4. The amount of information a consumer has about online banking has a positive effect on consumer acceptance of online banking Security and privacy One of the important points is security and privacy which has a direct affect to the acceptance of online banking (Roboff and Charles, 1998; Sathye, 1999; Hamlet and Strube, 2000; Tan and Teo, 2000; Polatoglu and Ekin, 2001; Black et al., 2002; Giglio, 2002; Howcroft et al., 2002) ( I suggest to remove some of the references from this part). To be more precise, privacy and security were found to be significant obstacle to the adoption of online banking (Sathye, 1999). Roboff and Charles (1998) found that people have a weak understanding of online banking security risks although they are aware of the risks. Finally they argue that although consumers confidence in their bank was strong, their confidence in technology was weak (see also Howcroft et al., 2002). As the amount of products and services offered via the Internet grows rapidly, consumers are more and more concerned about security and privacy issues. In general, many consumers refuse to give private information over the telephone or the Internet, for example credit card information- card number and password (Hoffman and Novak, 1998). According to many studies (e.g. Westin and Maurici, 1998; Cranor et al., 1999) privacy issues have proven important barriers to the use of online services. Gathering and recording user data without consumers awareness concerns them (DePallo, 2000). Users want to control what kind of data is collected, for what purposes, how long data is recorded for, how and for what purposes their data is processed (Kobsa, 2001; Kobsa, 2002). As trust, in this article it has been concentrated only on level of confidence in the technology which online banking service provider. Thereby it is proposed that: H5. Security and privacy have a positive effect on consumer acceptance of online banking 5. The Proposed Solution In accordance to the result base on the survey, it was found that online banking is widely and mostly used by customers with middle and high level income aged around 32 years. Consequently, banks have to find the reason behind that online banking is used by a certain portion of customers and not all. They need to enhance the web page and make it user friendly and easy to use. In addition, the main reason of not using online banking is that customers do not know how to use it. This means that way of using online banking service is not well explained by some banks. Therefore, banks need to make it clear for their customers by advertising for this service by making a manual available on their web site of how to use online banking starting by the way of getting the password ending by the way of doing inquiries and financial transactions. 6. Analysis Results The average age of respondents was 32.74 years. 57 percent of the respondents were male. Approximately 20.7 percent of the respondents belonged to the lowest income level (under BD400 per month). About 45.5 percent of the respondents fell into middle income level (bet ween BD400-799 per month).The rest fit into the highest income level (over BD800 per month). Factor analysis ** A positive factor analysis was conducted on the items comprising PU, PEOU, security and privacy, and PE. The factor analysis was conducted using SPSS program (Please refer to Appendix II for Tables). The first factor, PEOU, consists of four variables. The second factor, PU, contained four variables. The third factor, security and privacy, was loaded with three variables .And the forth factor refers to PE and was loaded with five variables. We run a correlation analysis in order to test our hypothesis. The result indicate that Income, PEOU, PU, Security Privacy, and PE have a strong positively correlated with use (p0.05). In the regression analysis was conducted to reveal how different factors affect the use of online banking. The results of ANOVA indicate that the regression and residual sums of squares are not approximately equal, which indicates that most of the variation in use is not explained by the model. As a result only Income, PEOU, and PE seems that have a strong relationship with the use. Based on our data analysis, it seems that Income, PEOU, PU, Security Privacy, and PE statistically significantly clearly have a positive effect on the use of online banking. Background variables age, years of experience in computer usage, education, and gender are also statistically non-significant. This means that most of the research model (H1, H2, H3, and H5) was supported. The rest of the hypotheses were not supported by the data. ** Please refer to Appendix II for SPSS Tables. 7. Discussion In this section the discussion performed on theoretical contributions, managerial contributions, limitations further research, and a compression between the literature review the results. In details as follow: 7.1 Theoretical contributions From a theoretical standpoint, the results presented contributed to the existing literat ure in a number of ways. First, the research makes a contribution to electronic banking literature by providing insights on the factors that seem to affect online banking acceptance. The results hint that information about online banking services and its benefits is a critical factor influencing the acceptance. Moreover, security and privacy were found to have a relatively weak relationship with the acceptance. Secondly, the research contributes to the technology acceptance literature by suggesting that PU as well as perceived enjoyment (PE) were found to have some effect on technology acceptance. Furthermore, we found that PU was more influential than PEOU in explaining technology acceptance. 7.2 Managerial contributions The results of the research provide managers information that will help them to take decisions about the planning of online banking Web sites and service selection. In the planning and development of online banking services, software developers should pay att ention to informative content that is above all perceived useful and with relevant information and services. In the marketing process of online banking services marketing experts should emphasize the benefits its adoption provides. Banks should now concentrate in their advertising more to informative issues rather than in building only brands with less informative advertisements. 7.3 Limitations and further research Although the results can be considered statistically significant in most parts, the research has several limitations that affect the reliability and validity of the findings. The research was limited mainly by the time factor; choosing to complete the research in one academic course fostered us to limit the number of the distributed surveys. Time was not the only limitation, but reaching the targeted sample and convincing them to respond to the surveys as soon as possible was another major problem that had a critical reason in delaying the project progress. The other limitation of this work concerns the measures for user acceptance. TAM studies have found that PU and PEOU are not the only predictors of technology acceptance. Furthermore, another interesting avenue for further research could be a detailed study on online banking usage in firms. We should also measure online banking acceptance with other possible factors derived from different sources of literature. 7.4 Compression between the literature review the results: The impact of electronic commerce has been apparent in the banking and financial services industry when compared with other industry segments (Bughin, 2004; eMarketer, 2000). However according to the results of the research it was found that 77.7% of respondents their banks have online banking. Also, it has been found (LiaoCheung, 2002) that individual expectations regarding accuracy, security, transactions speed, user-friendliness, user involvement, and convenience were the most important quality attributes in the perceived usefulness of Internet-based e-banking. Many researchers have argued that trust is essential for understanding interpersonal behavior and is relevant to e-banking. (Gefen, 2002; Jarvenpaa, Tractinsky, Vitale, 2000). But most of the researches respondents who dont trust the online banking for several reasons such as they are afraid of security issues, they have a negative idea about all other aspects of online banking. However, several studies indicate that online bankers are the most profitable and wealthiest segment to banks (Mols, 1998; Robinson, 2000; Sheshunoff, 2000). While as a result of the research the two largest sectors of online bankers nowadays (2009) are 47% within the middle income level and 39% within the highest income level form the respondents which are using online banking. On this result, no bank today can underestimate the power of the online channel. Luxman (1999) for instance estimates that in the near future the online channel reinforc es its importance especially in the countryside, where banks have closed many branches. Without the possibility of managing banking affairs directly from home or office, customers easily perceive troubles in managing their financial affairs such as paying bills. But only 2.5% of the researches respondents dont have internet at home, so its not a problem in the new millennium anymore. As noted, online banking offers many benefits to banks as well as to customers. However, in global terms the majority of private bankers are still not using online banking channel. There exist multiple reasons for this. To start with, customers need to have an access to the Internet in order to utilize the service. Furthermore, new online users need first to learn how to use the service (Mols et al., 1999). But this is not the case anymore as 97.5% of the research respondents have an internet connection at home, and 61.5% of the respondents find the online banking easy to use. So its not a major prob lem anymore. Second, nonusers often complain that online banking has no social dimension, i.e. you are not served in the way you are in a face-to-face situation at branch (Mattila et al., 2003). But as a result for the research only 5% of the respondents who are not using online banking complained about this point. Third, customers have been afraid of security issues (Sathye, 1999; Hamlet and Strube, 2000; Howcroft et al., 2002). However 9% of the researches respondents (who are not using online banking) only afraid of security issues. Therefore, time and cost savings and freedom from place have been found the main reasons underlying online banking acceptance (Polatoglu and Ekin, 2001; Black et al., 2002; Howcroft et al.,2002). And this is what the results of the research indicated as 62% of the respondents find the online banking as a time saving, 51% of the respondents think that it gives them more freedom, and 50% of the respondents find it helps in cost saving. Also, it has been noted that users attitudes towards and acceptance of a new information system have a critical impact on successful information system adoption (Davis, 1989; Venkatesh and Davis, 1996; 8. Summery and Conclusion The primary objective of the study was to study consumer acceptance of online banking in Bahrain in the light of the technology acceptance model (TAM) added with new variables derived from online banking acceptance literature. The model we developed proposed that online banking acceptance can be modeled with the variables derived from the TAM (PU and PEOU) and three other variables referring to perceived enjoyment (PE), information on online banking, and security and privacy. In the results section the model was tested with 200 consumers and revised. With the use of a factor analysis, five factors were identified suggesting that PU, PEOU, PE, information on online banking, and security and privacy have an impact on the acceptance of online banking. The resul ts of the regression analysis conducted on the five factors indicate that PU and the amount of information on online banking were found to be the most influential factors explaining the use of online banking services. This finding refers to the fact that consumers use online banking for the benefits it provides in comparison to other banking delivery channels. Furthermore, the findings indicate that while consumers get more information about online banking the more informative they become about the benefits it offers.