This open access book examines the history and role of money. Money is often defined in terms of three interrelated functions: as a medium of exchange, store of value and unit of account. Researchers frequently discuss the first two functions, but tend to ignore unit of account. This book focuses on how a unit of account or denomination can be defined and can be derived from the monetary system. In the case of paper money and coins, we know how to determine the denomination of money based on the problem of the least number of weights defined by Bachet and proved by Hardy and Wright (1960). However, in the case of digital or cryptocurrency, denomination may not matter because digital or cryptocurrency uses a wallet that is essentially denomination free: a wallet can contain any amount of currency without upper and lower limits. When people talk about the stablecoin, i.e. the stable price of digital and cryptocurrency with the major legal tender, they take a unit of account or denomination of digital or cryptocurrency as given. This arrangement destroys the nature of denomination free or decentralized autonomy as it were. Exploring how we can consolidate with these two views of denomination, this book will appeal to anyone interested in creating new digital or cryptocurrencies. It also serves as a textbook on central bank digital currency.

• Provides a comprehensive overview of luxury brand management from a sustainability perspective, using cases and examples to demonstrate how sustainability practices can be embedded into the product and applied to existing luxury brands. • Each chapter includes real life case studies from both well-known international brands and boutique luxury start-ups. • Designed as a core or recommended text for advanced undergraduate and postgraduate Luxury Fashion Management and Luxury Brand Management courses.

• Provides a comprehensive overview of luxury brand management from a sustainability perspective, using cases and examples to demonstrate how sustainability practices can be embedded into the product and applied to existing luxury brands. • Each chapter includes real life case studies from both well-known international brands and boutique luxury start-ups. • Designed as a core or recommended text for advanced undergraduate and postgraduate Luxury Fashion Management and Luxury Brand Management courses.

Are you prepared for the coming AI era? AI advances will profoundly change your daily service interactions, so this book provides readers with a necessary understanding of service, the application of resources (e.g., knowledge) for the benefit of another. In just minutes, you can learn about today's use of early-stage AI for automation and augmentation, and essential elements of service science, service-dominant (S-D) logic, and Service Dominant Architecture (SDA). Ultimately improved service for all is possible with human-level AI and digital twins - but requires investing wisely in better models: Better models of the world both complex natural and social systems (science), better mental-models in people to improve interactions (logic), better cultural and structural models of organizations to improve change (architecture), and better trusted and responsible AI models. The service innovation community studies and builds better models to improve interactions and change in business and society. The book challenges all responsible actors - individuals, businesses, universities, and governments - to invest systematically and wisely to upskill with AI (the X+AI vision). The service innovation community is a growing transdiscipline harnessing all disciplines to become better T-shaped professionals. Extensive end notes, bibliography, and index are provided.

This much needed book examines all of the major traditions of social thought to clearly show their influence in our understanding of sport and leisure.

Written with both the cultural and moral crisis and the challenge of the future in mind, Peter Abbs's book charts an open, clear, and positive way forward for education. Divided into four sections, the first examines the true and fitting ends of education and outlines a positive conception of education as an initiation into critical enquiry and the personal art of learning. The two middle sections consider aesthetic education. Abbs confronts government approaches to arts teaching and offers an alternative dynamic paradigm within which the creativity of the culture (transmitted down the ages) and the creativity of the individual (seen as biologically given) must be combined. The outcome of this is explored, in detail, in relation to the teaching of literature, creative writing and drama. The final section offers critical appraisals of influential figures in the arts field:;Herbert Reid, the late Peter Fuller and David Holbrook.

This book discusses the transformation of the banking industry, particularly after a number of recent shocks: 2008 financial crisis, 2012 Euro-sovereign crisis, the pandemic COVID-19 crisis, the technological revolution, and reputational problems in banking due to climate risk and ESG (Environmental, Social and Governance) metrics. The book emphasizes two post-pandemic issues: the role of financial education and inclusive finance, and responsible banking and ESG priorities. Individual chapters analyse how the pandemic shed new light on social and governance responsibilities: Major issues include the importance and efficiency of financial education, and the impact of ESG programs on firms’ value, banks’ probability of default, bank business models and reputation risk. The book also addresses investors’ behaviour and the factors which may bias financial disclosure and reporting. By addressing whether the post-2008 crisis bank restructuring has effectively created a resilient and sustainable banking system – mostly from the European market’s perspective – the book will be of interest to researchers, academics, policy makers, and professionals of banking and financial institutions.

The time when "fashion" was defined by French designers whose clothes could be afforded only by elite has ended. Now designers take their cues from mainstream consumers and creativity is channeled more into mass-marketing clothes than into designing them. Indeed, one need look no further than the Gap to see proof of this. In The End of Fashion, Wall Street Journal, reporter Teri Agins astutely explores this seminal change, laying bare all aspects of the fashion industry from manufacturing, retailing, anmd licensing to image making and financing. Here as well are fascinating insider vignettes that show Donna Karan fighting with financiers,the rivalry between Ralph Lauren and Tommy Hilfiger, and the commitment to haute conture that sent Isaac Mizrahi's business spiraling.

What sources of information do tourists consult when choosing a travel destination? How can communication channels be used to reach the tourist market for a specific region? This resource provides new insight into these important questions and more on developing tourism marketing strategies using the key factors of communication and channel systems. Communication and Channel Systems in Tourism Marketing features both conceptual and applied research which provides an excellent base for tourism marketers and destination planners to evaluate and improve their overall tourism marketing programs. Tourism and hospitality scholars discuss communication distribution channels, media selection, information needs and sources, importance of travel brochures and slogans, brochure design, and the effectiveness of communication messages in tourism marketing. The advantages and disadvantages of a wide variety of communication channels are explored including word-of-mouth, brochures/pamphlets, travel agents, magazines, radio, television, and slogans. Some of the topics covered in this book that demonstrate the use of communication and channel systems in tourism marketing are: building repeat visitor relationships image formation distribution channels communication messages and their effectiveness design of destination- and attraction-specific brochures communicating unique selling propositions in slogans This groundbreaking book presents original, empirical research that incorporates communications and channels systems as integral components of tourism marketing. The diversity and originality of these tourism research cases will be helpful to destination promoters, tourism decisionmakers, and tourism planners worldwide. Communication and Channel Systems in Tourism Marketing is also a valuable supplementary text for students in courses on leisure, recreation, hospitality, tourism, and marketing.

Many facets of place branding, such as identities, image, promotion or sense of place, have been around for a long time. However, the need to analyse their nature in the context of branding and to examine their relationships in detail has grown rapidly in the last decade or so, as places all over the world have put branding activities higher than ever in their agenda. This important new book examines and clarifies key aspects of the recently popularised concept of place branding, expounding many controversies, confusions and discords in the field. The expert contributors clarify several unresolved issues surrounding the application of place branding, in particular its multiple goals. They provide a detailed analysis of the role of local communities in place branding strategies, and illustrate not only how, but also why brand management should be implemented. Case studies from a range of jurisdictions and cultural and political viewpoints are drawn upon, each illustrating an array of issues or techniques in specific economic, cultural and geographical contexts. This book provides a theoretically informed but practically oriented overview and discussion of the increasingly popular field of place branding as an instrument of place management. As such, it will strongly appeal to both academics and practitioners in the fields of place marketing, place branding, local development, tourism planning and development, tourism marketing, cultural geography, urban and regional planning. Consultants in local authorities, national and regional tourism boards will also find this to be a fascinating read.

Islands are coming under increasing environmental and social pressure, especially under the impact of tourism. The small scale of islands which are almost enclosed systems provides researchers with ideal cases in which to observe processes and test theories.
"The Development Process in Small Island States" focuses on the political security, tourism, gender issues, ecosystems, landscapes and economies of island communities. The contributors examine islands at different stages of the development process. They provide broad overviews of development issues relevant to islands, and identify the common interests that link islands and those who research them together.
Other essays examine a range of themes all based on original research in the context of specific islands. With case studies drawn from the Caribbean, the Mediterranean and the Pacific, the book describes the position of islands as ecologically and economically vulnerable sites.

How might one determine if a financial institution is taking risk in a balanced and productive manner? A powerful tool to address this question is economic capital, which is a model-based measure of the amount of equity that an entity must hold to satisfactorily offset its risk-generating activities. This book, with a particular focus on the credit-risk dimension, pragmatically explores real-world economic-capital methodologies and applications. It begins with the thorny practical issues surrounding the construction of an (industrial-strength) credit-risk economic-capital model, defensibly determining its parameters, and ensuring its efficient implementation. It then broadens its gaze to examine various critical applications and extensions of economic capital; these include loan pricing, the computation of loan impairments, and stress testing. Along the way, typically working from first principles, various possible modelling choices and related concepts are examined. The end result is a useful reference for students and practitioners wishing to learn more about a centrally important financial-management device.

Tourism, travel and leisure (TTL) are highly diverse and fragmented industries. Alliances and partnerships can be used as a framework providing small and medium-sized tourism enterprises (which do not possess adequate resources or organizational capabilities) with opportunities to operate in a competitive business environment. This book will: (i) present the theoretical and analytical frameworks underlying business co-operation and alliances; (ii) analyse the main issues and aspects related to business partnerships; (iii) investigate the contribution of these alliances in the field of management and marketing of TTL businesses; (iv) examine and highlight the factors associated with their success and/or influencing the successful operations of such alliances at business and destination levels; (v) explore their adoption, application and management in various contexts of TTL businesses; and (vi) present and discuss case studies illustrating the various issues and aspects. The volume will conclude by providing management and marketing implications and recommendations for tourism business, destination managers and local planners to enable them to successfully operate such alliances.

The Student Book and ActiveBook has clearly laid out pages with a range of supportive features to aid learning and teaching: Getting to know your unit sections ensure learners understand the grading criteria and unit requirements. Getting ready for Assessment sections focus on preparation for external assessment with guidance for learners on what to expect. Hints and tips will help them prepare for assessment and sample answers are provided for a range of question types including, short and long answer questions, all with a supporting commentary. Learners can also prepare for internal assessment using this feature. A case study of a learner completing the internal assessment for that unit covering 'How I got started', 'How I brought it all together' and 'What I got from the experience'. Pause Point features provide opportunities for learners to self-evaluate their learning at regular intervals. Each Pause Point point feature gives learners a Hint or Extend option to either revisit and reinforce the topic or encourage independent research or further study skills. Case Study and Theory in Practice features enable development of problem-solving skills and place the theory into real life situations learners could encounter. Assessment Activity/Practice features provide scaffolded assessment practice activities that help prepare learners for formative assessment. Within each assessment practice activity, a Plan, Do and Review section encourages supports learners' formative assessment by to making sure they fully understand what they are being asked to do, what their goals are and how to evaluate the task and consider how they could improve. Dedicated Think Future pages provide case studies from the industry, with a focus on aspects of skills development that can be put into practice in a real work environment and further study.

The main contribution of this book is the living composition, the model of living organizations. It is a new and original interpretation of the theory of living, self-producing systems (autopoiesis theory). Living composition is defined here as strategic components and their relationships. A living organization is thereby a self-producing system that is composed of ten different non-physical strategic components that are continually produced by the organization itself. The components and their relationships are defined so that they enable and facilitate interconnected openness and closure, i.e. the 'sensing' (interactive openness) and 'memory' (self-referentiality) of an organization. These characteristics and related knowledge flows enable the capability to learn and co-evolve with the broader business ecosystem. This book also presents consistency/intentionality platforms and evolution models that help to evaluate the learning and renewal capability of an organization and to improve its enabling infrastructure.
The living composition model has multiple implications for managers, consultants, and academics. It helps to identify the characteristics and development potential of the enabling structures of an organization, and to evaluate various development methods and activities in a larger framework. The sources of organizational learning and renewal are diverse and difficult to understand. This book shows how organizational learning and renewal can be explained by the theory of self-producing systems.

The stability and wealth of a nation's economy is dependent upon the success of various industrial sectors. The tourism industry has experienced massive growth in recent years, creating more jobs and becoming a source of foreign exchange. Opportunities and Challenges for Tourism and Hospitality in the BRIC Nations is a pivotal reference source for the latest scholarly research on the recent developments and contemporary issues within the services sector, highlighting cross-cultural implications as well as societal impacts of hospitality and tourism on emerging markets. Providing insight on managing and maximizing profitability, this book is ideally designed for researchers, professionals, upper-level students, and academicians involved in the services industry.

Over the past 40 years, Japanese designers have led the way in aligning fashion with art and ideology, as well as addressing identity and social politics through dress. They have demonstrated that both creative and commercial enterprise is possible in today's international fashion industry, and have refused to compromise their ideals, remaining autonomous and independent in their design, business affairs and distribution methods. The inspirational Miyake, Yamamoto and Kawakubo have gained worldwide respect and admiration and have influenced a generation of designers and artists alike. Based on twelve years of research, this book provides a richly detailed and uniquely comprehensive view of the work of these three key designers. It outlines their major contributions and the subsequent impact that their work has had upon the next generation of fashion and textile designers around the world. Designers discussed include: Issey Miyake, Yohji Yamamoto, Rei Kawakubo, Naoki Takizawa, Dai Fujiwara, Junya Watanabe, Tao Kurihara, Jun Takahashi, Yoshiki Hishinuma, Junichi Arai, Reiko Sudo & the Nuno Corporation, Makiko Minagawa, Hiroshi Matsushita, Martin Margiela, Ann Demeulemeester, Dries Van Noten, Walter Beirendonck, Dirk Bikkembergs, Alexander McQueen, Hussein Chalayan and Helmut Lang.

For undergraduate and graduate courses in Organizational Behavior and Human Relations Skills in schools of hotel management. Organizational Behavior for the Hospitality Industry is the most recent organisational behaviour text that focuses on the hospitality industry, delving into the concepts that are relevant to students who plan to enter the hospitality industry. Hospitality organisations today must achieve excellence in human relations, and that success starts with quality organisational behaviour. The text is organised into three sections: organisational behavioural essentials, the individual and the organisation, and key management tasks. Additionally, each key topic includes detailed exercises, providing students with the hands-on experience they'll need in order to succeed in the industry.

Locating empirical information on specific service industry characteristics is not an easy task, even for an individual familiar with various sources of data. This book is a quick source of information on service industry statistics across many nations of the world. The reader is introduced to finding key sources of data, building analytical ratios from diverse sources, and understanding the advantages and disadvantages of data selection methods in the service sector. The global nature of the data compiled in this book, especially an extensive coverage of the United States, makes it an invaluable resource to active researchers and stakeholders in the service industry as well as those who seek to enter it.

This book is compilation of different analytics and machine learning techniques focusing on the tourism industry, particularly in measuring the impact of COVID-19 as well as forging a path ahead toward recovery. It includes case studies on COVID-19's effects on tourism in Europe, Hong Kong, China, and Singapore with the objective of looking at the issues through a data analytical lens and uncovering potential solutions. It adopts descriptive analytics, predictive analytics, machine learning predictive models, and some simulation models to provide holistic understanding. There are three ways in which readers will benefit from reading this work. Firstly, readers gain an insightful understanding of how tourism is impacted by different factors, its intermingled relationship with macro and business data, and how different analytics approaches can be used to visualize the issues, scenarios, and resolutions. Secondly, readers learn to pick up data analytics skills from the illustrated examples. Thirdly, readers learn the basics of Python programming to work with the different kinds of datasets that may be applicable to the tourism industry.

In a world increasingly faced with, and divided by, regional and global crises, resilience has emerged as a key concept with significant relevance for tourism. A paradigmatic shift is taking place in the long-term planning of tourism development, in which the prevailing focus on sustainability is being enhanced with the practical application of resilience planning. This book provides a critical appraisal of sustainability and resilience, and the relationship between the two. Contributions highlight the complexity of addressing social change with resilience planning in a range of tourism contexts, from islands to mountains, from urban to remote environments, and in a range of international settings. Case studies articulate how tourism is both an agent of social change and a victim of larger change processes, and provide important lessons on how to deal with increasingly unstable economic, social and environmental systems. This is the first book to specifically examine social change and sustainability in tourism through a resilience lens. This much-needed contribution to the literature will be a key resource for those working in tourism studies, tourism planning and management, social geography, and development studies, among others.