This second edition updates and extends the original foundations of the loanable funds model. It develops a new monetary model of inside money, which is created by the commercial (or retail) banks, drawing on the events of 2007/08 that led to the Great Recession and fragile economy of today. Coronavirus is likely to cause another downturn of economic activity, from the perspective of late 2020 as this is written. That will represent a long-period of subpar, anaemic growth, which has not been satisfactorily explained by the traditional theory in the form of neo-classical analysis. The reason may lie with the adoption of a body of theory based primarily on a barter system of exchange but sometimes with one commodity used as money to try to explain a dynamic, monetary economy of today. Money has evolved from a system of barter to become a medium of exchange based on fiat money and credit currency underpinned by legal tender, and therefore, a creature of law. If households and firms lose confidence in the banking system, they can withdraw their deposits in the form of cash as a medium of exchange, which must be accepted in exchange for goods and services as legal tender. This book highlights the importance of how money is created or destroyed endogenously and derives the loanable supply of funds in conjunction with the demand within a revised analysis of monetary theory, with a new emphasis on portfolio theory. It applies critical thinking and the realization of a more precise formulation of the loanable funds theory to final year and postgraduate students in particular, with various features systematically added such as the catastrophe framework and Minsky's theory of changing states in an attempt to derive a fully dynamic model. There is a new framework using aggregate demand and supply analysis to explain inflation. This will be reinforced at each stage by the inclusion of revised and updated case studies, graphs and figures to give an international setting and application

The Hilton brand is arguably one of the most successful and iconic brands in the hospitality industry in all time. The Story of Hilton Hotels: 'Little Americas' provides both an informative historical analysis of the development of the company, as well an engaging narrative about Conrad Hilton himself, illustrating how he fulfilled the typical American dream of rising from rags to riches and constructing a multinational hotel empire. The Story of Hilton Hotels: 'Little Americas' also engages with the wider historical contexts of politics and culture. It analyses some of the key shifts in the area of hotel management including standardisation, asset-light models and delivering the customer experience. Using original data and the first hand academic research the author can use this iconic hotel brand as a lens through which to analyse some of the key theoretical concepts and practices that are used in the industry today. A vital resource for all students (both postgraduate and undergraduate) on hospitality, marketing, business history and business management courses as well as executive courses delivered to hospitality professionals.

Modern corporations face a variety of challenges and opportunities in the field of sustainable development. Properly managing assets and maintaining effective relationships with customers are crucial considerations in successful businesses. Innovations in Services Marketing and Management: Strategies for Emerging Economies presents insights into marketing strategies and tactical perspectives in both large and small enterprises. The chapters in this book explore case studies, contemporary research, and theoretical frameworks in effective business management, providing students, academicians, researchers, and managers with the resources and insight necessary to identify key trends in emerging economies and build the next generation of innovative services.

This book explores total revenue management (TRM), an emerging concept in revenue management that incorporates existing principles and tools of revenue management across all profit streams. It is a professional's guide to using TRM in an optimal and innovative manner to gain competitive advantage. Readers will gain comprehensive insights into the strategies, tools and principles of TRM including existing and emerging revenue streams across the value chain. The author offers a transparent and holistic explanation of pricing strategies, segmentation methods and distribution principles which enable implementation of TRM in organizations.

'I will never forget what the Nazi did to me. Never' 1940, Nazi-occupied Paris. A powerful story of love, tragedy and incredible courage, about one woman whose life is ripped apart by war and risks everything to seek justice. Brand new from the bestselling author of The Resistance Girl. As Nazis patrol the streets of the French capital, Tiena is alone, desperate and on the run. After defending herself against the force of an officer, she must find a new identity in order to survive. An accidental meeting with members of the Resistance gives her a lifeline, as she is offered the chance to reinvent herself as perfumer Angeline De Cadieux. However Angeline will never forget what happened to her, and will do everything she can to seek revenge. But vengeance can be a dangerous game, and Angeline can only hide her true identity for so long before her past catches up with her, with some devastating consequences... Paris, 2003. When the opportunity arises for aspiring journalist Emma Keane to interview world renowned perfumer Madame De Cadieux about her life during World War Two, she is determined to take it. There are secrets from her own family history that she hopes Angeline may be able to help unlock. But nothing can prepare Emma for Angeline's story, and one thing is for certain - it will change her own life forever... An absolutely heartbreaking, unforgettable historical novel of war, sacrifice and survival. Perfect for fans of Suzanne Goldring, Ella Carey and Catherine Hokin.

This book provides a management perspective on the full historical, contemporary, and geographic landscape of hospitality and tourism (H&T) in Africa. In so doing, it critically assesses and challenges the applicability of Western theories within the African context and draws attention to the insights offered by African management concepts. A variety of key topics are examined, including, for example, H&T management practices and management innovation in Africa, the drivers of and variation in uptake of Western management practices, policies and strategies to promote the development of H&T organizations, the influence of management practices on the competitiveness of African countries as tourism destinations, and areas for improvement of H&T organizations in Africa in the digital age. The approach is multidisciplinary. Both local and global perspectives are presented by authors from Africa, Europe, North America, and Asia, with inclusion of intra- and inter-country comparisons. This book will be essential reading for scholars, students, businesses, and policy makers with an interest in H&T in Africa.

The provision of services in both public and private sectors has increased dramatically over the last decade and a half. Many economies have shifted to a predominantly services model, leaving manufacturing and agriculture in their shadow. Service Science Research, Strategy and Innovation: Dynamic Knowledge Management Methods explores areas such as strategy development, service contracts, human capital management, leadership, management, marketing, e-government, and e-commerce. As this reference includes real world examples of selected cases, it will give readers the tools to utilize the knowledge and techniques needed to succeed in their careers. The perspectives gained from this volume will engage innovations of service and increased value wherever people interact with each other with resources and technology.

The Hilton brand is arguably one of the most successful and iconic brands in the hospitality industry in all time. The Story of Hilton Hotels: 'Little Americas' provides both an informative historical analysis of the development of the company, as well an engaging narrative about Conrad Hilton himself, illustrating how he fulfilled the typical American dream of rising from rags to riches and constructing a multinational hotel empire. The Story of Hilton Hotels: 'Little Americas' also engages with the wider historical contexts of politics and culture. It analyses some of the key shifts in the area of hotel management including standardisation, asset-light models and delivering the customer experience. Using original data and the first hand academic research the author can use this iconic hotel brand as a lens through which to analyse some of the key theoretical concepts and practices that are used in the industry today. A vital resource for all students (both postgraduate and undergraduate) on hospitality, marketing, business history and business management courses as well as executive courses delivered to hospitality professionals.

The fixed income and foreign exchange (FX) markets have never been as challenging to operate in as they are today. The post-crash combination of reduced liquidity, higher operating costs, low interest rates, flat yield curves and increased regulation means that market makers and investors alike need to work harder to generate value and remain in full understanding of the markets. Random Walks in Fixed Income and Foreign Exchange brings together the best of detailed and original practitioner-orientated market research on many specialist areas of the bond and FX markets. Written by the highly regarded FX and bonds research desk at Commerzbank, the book offers varied and in-depth insight into specific topics of vital important to dealers and investors, including the cross-currency basis and hedging, the yield curve, and overseas issuance conversion factors which will give investors a genuine edge in generating value. Written in accessible text, it is a must-read for all those interested in bonds and FX.

This book provides an in-depth analysis of and discussion about the relationship between green tourism, economic growth and globalization. It explores numerous topics relating to tourism including transport efficiency, foreign direct investment, clean energy, climate change dynamics and advances in sustainable tourism management. The book begins with discussion of sustainable tourism and economic growth, particularly focusing on management strategies. It then presents the relationship between energy use and tourism, looking at green energy and energy shock. It then discusses transport efficiency, tourism efficiency and financial growth in both developed and developing countries. This book is of interest to researchers, policymakers, and postgraduate students in the areas of energy, environmental and tourism economics.

This book approaches the tourism and hospitality industry from a regional science perspective. By analyzing the spatial context of tourist travels, the hospitality sector, and the regional impacts of tourist activities, it demonstrates the value of the regional science paradigm for understanding the dynamics and effects of tourism and hospitality-related phenomena. Written by leading regional science scholars from various countries as well as professionals from organizations such as OECD and AirBnB, the contributions address topics such as migration, new types of accommodation, segmentation of tourism demand, and the potential use of tracking technologies in tourism research. The content is divided into five parts, the first of which analyzes spatial effects on the development of firms in the tourism industry, while the second approaches temporal and spatial variability in tourism through analytical regional science tools. The broader economic and social impacts of tourism are addressed in part three. Part four assesses specific tourism segments and tourist behaviors, while part five discusses environmental aspects and tourism destination policies. The book will appeal to scholars of regional and spatial science and tourism, as well as tourism specialists and policymakers interested in developing science and evidence-based tourism policies.

Tourism marketing is a vital tool in promoting the overall health of the global economy by not only bringing necessary revenue to a particular region, but also providing an opportunity for tourists to explore another culture, building tolerance and overall exposure to different ways of life. Strategic Tools and Methods for Promoting Hospitality and Tourism Services provides interdisciplinary perspectives in the areas of global tourism and hospitality. Highlighting cultural boundaries of strategic knowledge management through the use of case studies and theoretical research, as well as the opportunities and challenges of tourism marketing, this publication is an essential reference source for academicians, research scholars, marketing professionals, graduate-level students, and industry professionals interested in international travel and the vacation industry.

Global manufacturing has been altered by the emergence of a new approach to production which differs radically from the principles of mass production. This approach has been characterised by successful manufacturers in Asia and the West who have engaged in a continuous process to improve quality, process productivity and cost performance. The authors of Beyond Quality argue that many of the methods used by these new firms are equally suitable for manufacturers in developing countries and the transition economies of eastern and Central Europe. Using case study material from Latin America, Africa and Central Europe, the authors demonstrate that it is the skill and organization of people - rather than sophisticated equipment - which determines growth in productivity and product quality. These new forms of improvement are not dependent on economies of scale and so provide small producers with the flexibility to compete effectively against mass producers.

An internationally focused text which explains strategic management, analysis and implementation specifically in the tourism industry. Fully revised and updated, this second edition covers strategic management in a variety of tourism contexts.

This book explores the understanding, description, and measurement of the physical, sensory, social, and emotional features of motorcycle and bicycle journey experiences in tourism. Novel insights are presented from an original case study of these forms of tourism in the Sella Pass, a panoramic road close to the Dolomites UNESCO World Heritage Site. A comprehensive mixed-methods strategy was employed for this research, with concurrent use of quantitative and qualitative methods including documentation and secondary data analysis, mobile video ethnography, and emotion measurement. The aim was to create a holistic knowledge of the features of journey experiences and a new definition of the mobility space as a perceptual space. The book is significant in that it is among the first studies to explore the concept of journey experiences and to develop an interdisciplinary theoretical foundation of mobility spaces. It offers a comprehensive understanding and a benchmarking of the features of motorcycling and cycling journey experiences, a deeper market knowledge on motorcycling and cycling tourists, and a set of tools, techniques, and recommendations for future research on tourist experiences.

The book provides a holistic and practical approach to lean management throughout the business value chain. The lean management framework and tools demonstrate the optimal design and use of methods, tools and principles for companies and organisations. The author describes comprehensively how lean management enables companies to concentrate on value-adding activities and processes to achieve a long-term, sustainable competitive advantage. A wealth of best practices, industry examples and case studies are used to reveal the diversity and opportunities of lean management methodologies, methods and principles. Moreover, the book shows how lean management principles are ultimately applied in industries like automotive, healthcare, education and services industries.

This book features a selection of the best papers presented during the 8th ATMC (Advances in Tourism Marketing Conference) of 2019. With contributions from internationally regarded academic experts, this edited collection addresses two major challenges for the tourism industry. Firstly, the criticism that tourism marketing is exploitative and fuels hedonistic consumerism. This volume seeks to illustrate that marketing skills and techniques can also be used for the good purposes, by understanding market needs, designing more sustainable products and identifying more persuasive methods of communication to transform tourist unsustainable behaviours. The contributions in this volume present theories, methods and results for enhancing such techniques for more sustainable marketing. Secondly, the challenge of new and growing collaborative business models, with champions as Airbnb or Uber, that are often presented as more sustainable than traditional ones, as they empower ordinary people and promote the shared use of resources. This volume explores how sharing practices in business raises new social challenges and the ethical questions that arise as a consequence. Sustainable and Collaborative Tourism in a Digital World offers discussion and insights from some of the world experts in the area as to how tourism marketing can evolve and advance to rise-up to these new challenges and opportunities. Part of the Advances in Tourism Marketing Series - a series of cutting-edge research-informed edited books that introduce the reader to a range of contemporary marketing phenomena in the domain of travel and tourism. Series editors: Alan Fyall, UCF, USA, Metin Kozak, Dokuz Eylul University, Turkey and Antonia Correia, Universidade do Algarve, Portugal.

This important new volume addresses the many aspects of banking in European market economies in the twentieth century, making innovative and authoritative research available to historians, economists, financiers and business analysts. The distinguished group of authors examines the historic role of banks in utilizing domestic and foreign financial resources. Their contributions show that from the 1880s onwards banks became an integral part of the capital market in continental Europe. In the course of this development the banks played a crucial part in financing industry in North and Central Europe. This symbiotic relationship between banks and industry is analysed and is shown to have had a decisive impact on the inflation and crisis-prone interwar period. The comparative and quantitative methods applied in these papers reveal differences between the countries of North and Central Europe, especially with regard to the degree of state intervention in individual economies. Other topics discussed include the networks of interlocking directorships, the effectiveness of banking legislation and the impact of the national question on banking in central and Southeast Europe. Universal Banking in the Twentieth Century illustrates both striking similarities and marked differences in the role of universal banking across Europe in terms of the level of industrialization and the pace of economic growth.

This book features a selection of the best papers presented during the 8th ATMC (Advances in Tourism Marketing Conference) of 2019. With contributions from internationally regarded academic experts, this edited collection addresses two major challenges for the tourism industry. Firstly, the criticism that tourism marketing is exploitative and fuels hedonistic consumerism. This volume seeks to illustrate that marketing skills and techniques can also be used for the good purposes, by understanding market needs, designing more sustainable products and identifying more persuasive methods of communication to transform tourist unsustainable behaviours. The contributions in this volume present theories, methods and results for enhancing such techniques for more sustainable marketing. Secondly, the challenge of new and growing collaborative business models, with champions as Airbnb or Uber, that are often presented as more sustainable than traditional ones, as they empower ordinary people and promote the shared use of resources. This volume explores how sharing practices in business raises new social challenges and the ethical questions that arise as a consequence. Sustainable and Collaborative Tourism in a Digital World offers discussion and insights from some of the world experts in the area as to how tourism marketing can evolve and advance to rise-up to these new challenges and opportunities. Part of the Advances in Tourism Marketing Series - a series of cutting-edge research-informed edited books that introduce the reader to a range of contemporary marketing phenomena in the domain of travel and tourism. Series editors: Alan Fyall, UCF, USA, Metin Kozak, Dokuz Eylul University, Turkey and Antonia Correia, Universidade do Algarve, Portugal.