Sunday, May 17, 2020

Value Stream Mapping - 1827 Words

LEAN AND CLEAN VALUE STREAM MAPPING Value stream mapping is a Lean process-mapping method for understanding the sequence of activities used to produce a product. During the Green Suppliers Network technical review, you will use value stream mapping to identify sources of non-value added time or materials; identify opportunities to increase efficiency; and develop a plan for implementing improvements. Value stream maps serve as a critical tool during the review process and can reveal substantial opportunities to reduce costs, improve production flow, save time, reduce inventory, and improve environmental performance. Conventional value stream mapping can overlook environmental wastes, such as: †¢ †¢ †¢ Energy, water, or raw materials used in†¦show more content†¦Exhibit 1 illustrates a conventional value stream map, shows how to denote process inputs and outputs, and provides example of where Green Supplier Network environmental metrics may exist in the product line. Compare â€Å"Use† Verses â€Å"Need† Using a Materials Line In the past, value stream maps would examine the time it takes to produce a product and the proportion of that time that is value added─or the time spent actually working on the product. The timeline was a graphic representation that compared the two, but didn’t focus on the resources consumed and waste generated in making the product. A materials line is a variation of a timeline and can be developed for any type of resource (e.g., water, energy, total materials, and/or a critical substance used in the product). A materials line, located on the bottom of a value stream map, shows the amount of raw materials used by each process in the value stream and the amount of materials that end up in the product and add value from a customer’s perspective. For example, the materials line illustrated below compares the amount of water used and needed in the milling and parts washing processes in a p roduct line. Milling Parts Washing 150K gal 2K gal Top line: Amount of water used WaterShow MoreRelatedValue Stream Mapping639 Words   |  3 PagesValue Stream Mapping Prof. N.Raghavan Value Stream Mapping (VSM) Definitions †¢ Value: What the Client wants from the process †¢ Value stream: Includes all the processes and activities used to design, produce and deliver the product or service to the Client. --- All the steps – both value added and non value added – required to take a product or service from its raw materials state into the waiting arms of a happy customer. †¢ Value Stream Map: Special type of flow chart that usesRead MoreValue Stream Mapping in Industry1700 Words   |  7 PagesValue Stream Mapping 1 Value Stream Mapping Definition †¢ Value Stream Mapping (VSM): – Special type of flow chart that uses symbols known as the language of Lean to depict and improve the flow of inventory and information. 2 Value Stream Mapping Purpose †¢ Provide optimum value to the customer through a complete value creation process with minimum waste in: – Design (concept to customer) – Build (order to delivery) – Sustain (in-use through life cycle to service) 3 Why Read MoreSample Resume On Value Stream Mapping2219 Words   |  9 PagesJohn Shook were asked to use their knowledge of Toyota practices to create a simple tool for managers to enable them to see the flow of value. They came up with Value Stream Mapping. This lean tool can help companies optimize their production in such a way that it results in drastic reduction in cost and throughput time and also improved quality. Value Stream Mapping (VSM) allows user to create a concrete plan to make most efficient use of the available resources. VSM is one of the most powerful leanRead MoreValue Stream Mapping for Coca Cola Company1302 Words   |  6 Pages0 0 7 17 3 1 0 10 1 4 37 ## r y g r y g r y g r y g r y g r y g r y g r y g 4 3 10 1 13 13 23 14 2 9 6 38 1 0 6 12 5 4 0 9 2 4 42 108 USD 10,199,599 Financial Value Target (Annualized) Financial Value Actual (Annualized) 2009 YTD Target 2009 YTD Actual USD 3,962,208 USD 3,596,345 USD 1,990,831 USD 2,584,387 USD 8,783,040 USD 6,001,383 USD 2,089,424 USD 1,737,652 USD 6,854,789 USD 1,805Read MoreVisual Management, Single Minute Exchange Of Die ( Smed ) And Value Stream Mapping1576 Words   |  7 Pagesassignment I studied and analyzed three tools that can help me and are fundamental to success in this business world that is ruled by time and efficiency. The tools I selected are: Visual Management, Single Minute Exchange of Die (SMED) and Value Stream Mapping. VISUAL MANAGEMENT: In order to continuously improve and progress as an organization, people need to observe, communicate and sharing information. The visual management is a strategy that make information easier to interpret and immediatelyRead MoreValue Stream Mapping Of Passive Rfid1696 Words   |  7 PagesAssignment #4 Value Stream Mapping of passive RFID’s in the Construction process: A Qualitative Analysis 1. Introduction and Background As the projects increase in size so does the complexity of associated with them .Large scale projects require a systematic structure so as it stays on schedule and the costs are not escalated. To monitor and control the processes in the construction project the industry is moving towards autonomation. Autonomation of the construction projects has made the processRead MoreAssessment of Value Stream Mapping Tools1047 Words   |  4 PagesAssessment of Value Stream Mapping Tools Introduction Value-stream mapping is the study of processes and systems required to bring a product or service from a provider to a manufacturer. The series of techniques used throughout value stream mapping are most often used for providing manufacturers with the ability to attain lean manufacturing process performance improvements by mitigating and eliminating the seven types of waste (Van Goubergen, Van Landeghem, Van Aken, Letens, 2003). The intentRead MoreBasic Tools Of Value Stream Mapping Essay954 Words   |  4 PagesThis project work has given very good information on the usage of the major tools of Value stream mapping. It has also provided me knowledge on the Single piece flow, Cell design, material presentation super market to support for the Takted manufacturing assembly cell. A lot of analysis like PQ, Capacity Analysis, line balancing for cell design and super market, material presentation water spider for wastes elimination from the assembly process. 6.1.1 Action completed per plan before Mid SemesterRead MoreThe Approach At High Level1025 Words   |  5 Pagesnow in the tech industry, with many organizations joining the bandwagon and working towards embracing the DevOps practices. Wiki describes Devops as a practice that emphasizes the collaboration and communication of the IT professionals across the value chain while automating the process of software delivery and infrastructure changes. The aim is to deliver the software quickly and reliably. However, in an enterprise scenario with the complexity involved, the journey to implement DevOps comprehensivelyRead MoreToshiba : Ome Works1720 Words   |  7 PagesValue Stream Mapping 1 Value Stream Mapping Definition †¢ Value Stream Mapping (VSM): – Special type of flow chart that uses symbols known as the language of Lean to depict and improve the flow of inventory and information. 2 Value Stream Mapping Purpose †¢ Provide optimum value to the customer through a complete value creation process with minimum waste in: – Design (concept to customer) – Build (order to delivery) – Sustain (in-use through life cycle to service) 3 Why

Wednesday, May 6, 2020

Essay about Edgar Allen Poe The Raven - 1151 Words

Edgar Allen Poe: The Raven Creating the Melancholic Tone in â€Å"The Raven† Edgar Allan Poe’s The Raven, representing Poe’s own introverted crisis of hell, is unusually moving and attractive to the reader. In his essay entitled The Philosophy of Composition, Poe reveals his purpose in writing â€Å"The Raven† and also describes the work of composing the poem as being carefully calculated in all aspects. Of all melancholy topics, Poe wished to use the one that was universally understood, death; specifically death involving a beautiful woman. The apparent tone in Edgar Allan Poe’s â€Å"The Raven† seemingly represents a very painful condition of mind, an intellect sensitive to madness and the abyss of melancholy brought upon by the death of a†¦show more content†¦In the first stanza, questioning from what direction the â€Å"tapping† came, he throws open the door, the narrators’ nemesis not to be found. Some other realm must be explored if he is t o ascertain something about his lost love and the noise which is driving him insane. The narrator then opens the shutter, opening his soul to the outside world. To his surprise, he discovers a raven, a â€Å"beast upon the sculptured bust above his chamber door† (53). The raven directs all further action in the poem, it ridicules and patronizes the narrator throughout the composition and its evil force permeates the air and induces suffering and anguish within the character. Emotions culminate with the attainment of a climax as the narrator faces his confused and disordered world. The narrator, in his madness, shrieks, â€Å"Get thee back into the tempest and the Night’s Plutonian shore!† (98). Poe’s calculated use of symbolism was influential in establishing the literary reputation of â€Å"The Raven†. The raven is established as a symbol for the narrators mournful and ceaseless remembrance of his lost love. The raven is of significant importance to the melancholic theme because it is often seen as being a harbinger of death. Another obvious symbol is the bust of Pallas, the Goddess of Wisdom. This use is symbolic as it leads the narrator to believe that the raven speaksShow MoreRelatedThe Raven By Edgar Allen Poe1233 Words   |  5 Pagesproper use of it a poem may not be as strong as others. Poetry is a form of art, and a poet uses language as a painter would use color to portray their art. Edgar Allen Poe is one of the greatest poets in history because his mastery of literary elements such as allusion, allegory, symbolism, and figurative language. â€Å"The Raven† by Edgar Allen Poe is a fascinating poem in which he displays excellent use of language. There are many symbols in this poem which help the reader understand the change in theRead MoreThe Raven By Edgar Allen Poe1494 Words   |  6 PagesIn 1844, Edgar Allen Poe published one of his most famous poems â€Å"The Raven.† â€Å"The Raven† is about a man reading books trying to keep his mind off a woman named Lenore he loved that died. Later, while he is napping, he wakes up from a knocking on the door. He gets up and opens the door of his chamber, but no one is there. He goes to his window then opens the shutters. A raven flies right in and sits on a bust of Pallas, goddess of wisdom, on top of his chamber door. The narrator sits there askingRead MoreThe Raven By Edgar Allen Poe1049 Words   |  5 Pages Poetry has long been an art form that has entertained readers for many years. Edgar Allen Poe, a poet from the 1900’s, is known for his deep dark poems. He wrote many poems that are now considered classics. One of his greatest works, â€Å"The Raven†, was written in 1845; just two years before his wife Virginia Clemm died of Tuberculosis. The entirety of â€Å"The Raven† is confined in a man s chamber. It is a December winter and it is midnight. The narrator, the person who resides in the chamber, is readingRead MoreThe Raven By Edgar Allen Poe1203 Words   |  5 PagesEdgar Allen Poe was an American writer stretching his life span from 1809 to 1849. His style of writing, while gloomy and erratic, becomes thrilling through the metaphorical resemblance of life. While covering his stories in a morbid tone there is a bright sense of hope and reason at the end of his poems or short stories many people relate to. After all nobody is happy without a sense of overcomi ng a hardship or obstacle in their life. â€Å"The Raven† is one of Edgar Allen Poe’s most famous poems. InRead MoreEdgar Allen Poe s The Raven1398 Words   |  6 Pagesthat are difficult to understand. However, Edgar Allen Poe’s poem, The Raven presents the concept of insanity in an enchanting way. In this paper, I am going to argue that Poe’s use of the image of the raven represents the narrators budding madness and could possibly be viewed as a symbol for his subconscious mind in the poem. Poe seems to structure the raven in this way through his abstract language, form, tone, symbolism and imagery. Although The Raven is rich in symbolism, the plot is actuallyRead MoreSymbolism Of The Raven By Edgar Allen Poe1045 Words   |  5 Pagesmeaning within the narrative itself. As a poet Edgar Allen Poe occupied his narratives with literary elements. Symbols become one of the most predominant elements in his works of literature. Consequently, in his concise poem â€Å"The Raven,† the literary element most noted by the reader is symbolism. Characters, places, and objects all have a deeper meaning within this poem. In â€Å"The Raven† the most noted of the symbols are the bust, Lenore, the time, and the raven. Before discussing the topic proper, theRead MoreThe Raven, by Edgar Allen Poe Essay896 Words   |  4 Pages The poem, â€Å"The Raven,† written by Edgar Allen Poe shows the deep depression and confusion that the narrator is experiencing since the death of his beloved wife. The gloomy setting of the poem predicts the visit of the Raven, whom is a sign of misfortune, darkness, and death. Throughout the poem, the narrator is continually mourning his wife, Lenore. He secretly hopes that the Raven will bring good news regarding his wife and his future; however, the Raven informs him that he will forever remainRead MoreThe Raven, By Edgar Allen Poe1164 Words   |  5 Pagesn the discussions of Edgar Allen Poe’s â€Å"The Raven,† one issue has been the explanation of the bird and it’s presence in the poem. Majority agrees that the feathered creature does have a symbolic meaning of the conscious mind of the speaker in the poem. The agreement usually ends with how we communicate with our selves. Some focus more on who or what a person is talking to with their conscio us while others direct their attention to how we can better understand our conscious conversations with ourRead MoreAnalysis Of The Poem The Raven By Edgar Allen Poe1376 Words   |  6 Pagesproper use of it a poem may not be as strong as others. Poetry is a form of art, and a poet uses language as a painter would use color to portray their art. Edgar Allen Poe is one of the greatest poets in history because his mastery of literary elements such as allusion, allegory, symbolism, and figurative language. â€Å"The Raven† by Edgar Allen Poe is a fascinating poem in which he displays excellent use of language. There are many symbols in this poem which help the reader understand the change in theRead MoreAnalysis Of Edgar Allen Poe s The Raven984 Words   |  4 Pageslive in a world where money can only get you so far. The one thing that we ultimately strive and mourn the loss for is love. After reading Edgar Allen Poe’s â€Å"The Raven,† you begin to realize the downside of experiencing love is loss because at that point your loneliness creates a veil of uncertainty in everything you do. Through imagery, repetition, and allegory, Poe conveys to the reader that the loss of a loved one results in lonesomeness and alienation not just from one’s self-but from the world.

Impact of the Event on Organization Free-Samples for Students

Question: Discuss about the Event Management. Answer: Introduction The event management is considered as one of the applications of managing projects so that a large scale event is created (Grandprix.com.au 2017). It involves the investigation of the brand, identification of the target audience and coordinating the technical aspect before actually launching the event (Grandprix.com.au 2017). The event chosen for this report is Australian Grand Prix. It is a car race that is held in Australia annually. Australia has received the contract of hosting Formula One car races till the year 2023 (Grandprix.com.au 2017). This race was first held in the year 1928 (Grandprix.com.au 2017). The Grand Prix event is an oldest motor car racing competition, which is held in the country of Australia (Grandprix.com.au 2017). The event is currently held at Grand Prix Circuit at Melbourne. The race winner is presented with one circular plate, which is known as Jack Brabham trophy (Grandprix.com.au 2017). In the event history, two of the most successful names include the German driver Michael Schumacher and Australian driver Lex Davison. This executive report would discuss the different types of events based on size, form and content. The target audience for this type of event would be discussed. The event would be described based on the attendance, time frame, economic impact, tourism significance and the need of the event. The growth opportunities for this event would be discussed. Discussion Classification of the event The Australian Grand Prix event is classified as per the event size, event form and the event content- Size The event is one of the most popular events in Australia, which attracts people from all over the world (Grandprix.com.au 2017). The race is held at held at the circle Albert Park Lake, which is located at the southern part of the Central Business District of Melbourne (Jinquan 2016). This course is smooth and there is a consistent corner which allows the drivers to teach the given circuit easily (Grandprix.com.au 2017). The event draws a wide range of audiences from 47, 000 to 1, 03,000 and it is a huge draw among all sections of society. Form The form of Australian Grand Prix event is Formula One (or F1 or it is also known as FIA Formula One World Championship) (Grandprix.com.au 2017). It is considered as the highest class of the single seat auto racing, which is considered as a premier of racing event (Grandprix.com.au 2017). In this form of event, there are a set of rules or formulaes that the participants need to conform (Schreyer and Torgler 2016). The season of F1 comprise of variety of races, which are termed as Grand Prix and Australian Grand Prix is one of them. This kind of racing events is considered as one of the fastest racing events in the world. Content The Grand Prix event requires several infrastructure needs so that the car racing event tasks take place smoothly (Grandprix.com.au 2017). There are different circuit modifications, driver changes and maintenance of the tires so that the racing is successful event. The circuits undergo regular checking and the safety features are updated (Grandprix.com.au 2017). There is an increased physical demand of the specification of cars in the year 2017 and there is lack of sustained running (Hirsch et al. 2017). The tires of the cars are being supplied by Pireli and the tires of the company are supersoft, ultrasoft and soft tires. The races are classified based on the qualifying times, time required, number of laps and others. The Australian Grand Prix is considered as the first round of the Formula One events and it is held within 23 March to 26 March (Grandprix.com.au 2017). It is considered as the first race of the year. There are series of practice as well as qualifying sessions which take place before the race. There are usually a morning practice session followed by a qualifying session held in the evening. The sessions last for one and a half hours (Grandprix.com.au 2017). The first qualifying session in the present format is eighteen minutes long and there are approximately 20 cars in the circuit. Target market for the event As opined by Rogers and Davidson (2015), it is important to determine the target market of the event and decide the course of the event accordingly. It is important to set the goals of the event and segment the potential attendees of the event. The target market of the Australian Grand Prix includes middle aged men and women (Grandprix.com.au 2017). The audiences have high level of interest in the high speed motor cars racing. They also have considerable amount of interest in the new technology and they have a love for the fast moving cars. They are more inclined to the video games and are more likely to have a specified TV viewing habit. They are more inclined to watch the Sci-Fi, sports and action movies channels, rather than viewing musicals or romantic films (Rogers and Davidson 2015). The global market of Formula One car racing is lucrative and is more concentrated in the developed countries (Steenkamp 2017). There has been a change in the global headquarters of the Formula One event and the recent organization is located in London (St. James Market). The Formula One market is controlled by one of the top shareholder known as CVC Capital Partners (Rogers and Davidson 2015). The national market of the Grand Prix in Australia can be segregated into two forms. There are types of audience who watch the live events and there are others who watch the delayed coverage (Jensen Cobbs and Groza 2014). In fact, there are other audiences who watch the event as news highlights or headlines in other programs (Rogers and Davidson 2015). There are advertising firms that target all viewers of Australia and they give equal preference to people that watch live broadcast or whether they watch few seconds coverage in some news clip. The inclusion of the news viewers in the target advertisements is considered as an innovative measure to enhance the popularity of the event (Jensen Cobbs and Groza 2014). The live event is broadcasted to millions of audiences in more than 187 countries (Kim et al. 2013). The Australian audiences are usually measured by television audience ratings known as OzTAM, which calculates the viewership rates in five metropolitan cities like Melbourne, S ydney, Brisbane, Perth and Adelaide (Jensen Cobbs and Groza 2014). There are an average number of 1.3 million people who watch this race on a regular basis (Van Reeth 2016). It is true that there are no exact figures who watch the highlights, replays and the online coverage of the event. Description of the event The Grand Prix Event took place in March in the year 2017 for four days starting from 23 March to 26 March (Chappelet and Parent 2015). It was opening episode of the Grand Prix event takes place in the race around the circuit, which is located in Melbourne (Chappelet and Parent 2015). The actual race starts on the Albert Park track, when the cars come arrive for the practice sessions (two in numbers) (Chappelet and Parent 2015). The next day comprise of one practice sessions and the qualifying sessions are held in the next day (Chappelet and Parent 2015). There are 58 laps in the race and the total distance covered by the cars is 191.11 miles (Walkerley 2016). The timing of the main race is 4 pm in Melbourne (Chappelet and Parent 2015). The event draws audiences from Australia as well as all over the world (which implies significant tourism significance). The sports lovers are attracted to this adventure sports and people from all demography visits to witness the major event (Chappelet and Parent 2015). There has been considerable rise in the spectator attendance since its inception (Chappelet and Parent 2015). During the global economic downturn in the year 2009, there was a higher level of unemployment and strike of the public transport, which has led to slight drop in the attendees of the event. In the year 2010, there was an increase in the attendance rates of the Grand Prix, Australia (Chappelet and Parent 2015). The organization structure of Grand Prix comprises of the Chairman, Deputy Chairman, FCIT, strategic advisors and others (Grandprix.com.au 2017). They have Audit and Risk Committee, the main responsibilities of who is concerned with the report as well as review independently (Grandprix.com.au 2017). They assist the managers in evaluating the effectiveness of the internal environment of the organization. The Grand Prix event has significant economic impact on the territories of Australia. The annual economic rate of the event is between $32 million and $39 million (Jones Newsome and Macbeth 2016). There is a growth of international tourism as a result of the Formula One events. There are overseas audiences that flock in the country for witnessing the annual car racing events. This has caused a subsequent rise in the hospitality sector also. The firms namely Crown and Accor have reported huge rise in the bookings during the Grand Prix event (Jones Newsome and Macbeth 2016). There is a huge rise in the television viewings of the event as the event is screened in more than 187 countries (Jones Newsome and Macbeth 2016). There is an increased investment in Australia and there is also a high rate of return visits by the tourists (Mao and Huang 2016). It is considered as profitable events as it leads to an improvement in the economic scenario of the country (Jones Newsome and Macbeth 2016) . However, there is considerable loss to the external environment of the park as there is an increase in the noise pollution and loss of public utility of the park (Jones Newsome and Macbeth 2016). There is an increase in the employment options in the nearby regions, which leads to an increase in the economic power of the region. Strengths and weakness of the event The Grand Prix even has several strengths as well as weaknesses. The strengths of the event include that it provides considerable amount of branding as well as positioning for Victoria and Melbourne among both the national as well as international audiences (Holmes et al. 2015). This is achieved by the media coverage as well as word of mouth publicity of the event (Holmes et al. 2015). There is a rise in the government revenues as there is an increase in the tourism activities in Australia (Holmes et al. 2015). There is a considerable amount of television broadcast hours, which has extensive coverage worldwide. There is branding of the Australian regions in the online, radio and print medium (Holmes et al. 2015). The exposure to Melbourne in the international media is associated with benefits such as increase in the business opportunities, induced tourism, inward investment and industry development (Holmes et al. 2015). There are improved business prospects in the region and country. There is an improvement in the sponsorship as well as sales revenue of the Victorian government (Holmes et al. 2015). The sale of the event tickets have been great source of revenue for the company. There is consumer surplus to the different attendees of Victoria (Jones Newsome and Macbeth 2016). This amount refers to the additional amount that the Victorian residents are willing to pay for viewing the race (Holmes et al. 2015). This rate is above the normal ticket rate, which gives a boost to the total ticket sales revenues (Holmes et al. 2015). There is benefit to the Victorians for attending free parade in the business district of the country. There is also surplus relating to increased visitation (Jones Newso me and Macbeth 2016). The attendance at the event rises every year, which implies an additional source of revenue for the company (Holmes et al. 2015). There is an increased benefit to the media exposure, which benefits the operating revenues of the country. There is subsequent weakness of the Grand Prix event, which takes place in Melbourne. There is loss of public place in the park and the citizens are unable to gain access to the public amenity (Holmes et al. 2015). The race restricts free movement of the public as there is removal as well as construction of the equipments. There is significant amount of loss of revenues for the park revenue as depicted in the below chart- Variable Unit Value Estimated recreational Visits per year Visits 1,700,000 Visits per week Visits 32,692 Portion of visits By Victorians Visits 0.85 Fig: Estimated cost due to loss of park use Source: (Grandprix.com.au 2017) Growth Opportunities There are certain growth opportunities for the Grand Prix event, held in Australia. There has been considerable rise in the revenues of the Formula One events in the last 15 years and it has also surpassed its close rival FIFA World Cup (Kim et al. 2017). There are an increasing number of stakeholders that are increasingly aiming for acquiring more number of motor race venues, which would speed up the liberty process (Holmes et al. 2015). There has been increasing global trends of watching Formula One, which would also increase the revenues of the event (Holmes et al. 2015). There are opportunities for enhancing the competitive spirit of the races and hence there is scope of adding ancillary elements. There is scope of exploiting the digital media by the Grand Prix organizers (Holmes et al. 2015). It is important to grow the digital revenues of the firm by generating direct revenues from the customers. The threats of the Grand Prix event include the different teams who might be breaking out from the league and forming their individual teams. This may reduce the potential glory of the Australian Grand Prix (Holmes et al. 2015). The top drivers of this form of racing might move out and enter other forms of racing. There is a growing popularity of the event Moto GP, which may pose sever threat to the Australian Grand Prix and take away their dedicated customers (Pinch and Reimer 2017). Recommendations The Australian Grand Prix event needs to be improved for better future growth prospects of the event. The disputes between the FOTA and FIA should be improved. It is true that there is high expenditure that may force many teams to withdraw themselves. There should be some additional options for the teams participating in the Formula One. There should be proper segregation of the events. There is greater need of the improving the quality of cars in the Grand Prix event, which would improve the competitive spirit of the event. It is also important to implement cars with wider tires so that the drivers get more grips while the race is going on. It is important to increase the promotional activities of the event as this would help the event to penetrate more into the masses. It is important to promote unique advertisement strategies for the formula one event so that there is greater brand visibility and greater identification of the event by the audience. This would also increase the pot ential target market of the Formula One race and it would also penetrate into the developing economies. Conclusion Australian Grand Prix is one of the biggest and most prestigious events in the sports car racing industry. The organization of such mega events needs lots of patience and hard work. This report discussed the classification of the event based on the size, form and content. The target market of the event is discussed, which includes middle aged men and women, who love high adventure sports. The event is described based on their time of occurrence, type of audiences and the economic impact of the event. There are several strengths as well as weakness of the event. The growth opportunities of the event show that there are considerable options for proliferation in the international Formula One market. The recommendations section has provide some of useful tips of growing the event in the national as well as international market such as segregation of the events, improving the quality of cars, tires and others. It has been suggested that there should be more focus on the promotional activi ties of the event. References Chappelet, J.L. and Parent, M.M., 2015. The (wide) world of sports events.Routledge Handbook of Sports Event Management. London, UK: Routledge, pp.1-17. Grandprix.com.au. (2017).Formula 1 Australian Grand Prix. [online] Available at: https://www.grandprix.com.au [Accessed 25 Apr. 2017]. Hirsch, J.A., Green, G.F., Peterson, M., Rodriguez, D.A. and Gordon-Larsen, P., 2017. Neighborhood sociodemographics and change in built infrastructure.Journal of Urbanism: International Research on Placemaking and Urban Sustainability,10(2), pp.181-197. Holmes, K., Hughes, M., Mair, J. and Carlsen, J., 2015.Events and sustainability. Routledge. Jensen, J.A., Cobbs, J. and Groza, M.D., 2014. The niche portfolio strategy to global expansion: The influence of market resources on demand for Formula One Racing.Journal of Global Marketing,27(4), pp.247-261. Jinquan, Z., 2016. Special event project management and marketing: a case study of the 59th Grand Prix 2012 in Macau.Asia Pacific Journal of Sport and Social Science,5(3), pp.187-201. Jones, C., Newsome, D. and Macbeth, J., 2016. Governance and environmental implications of motorised events: insights from Australia and avenues for further inquiry.Current Issues in Tourism,19(7), pp.680-696. Kim, M.K., Kim, S.K., Park, J.A., Carroll, M., Yu, J.G. and Na, K., 2017. Measuring the economic impacts of major sports events: the case of Formula One Grand Prix (F1).Asia Pacific Journal of Tourism Research,22(1), pp.64-73. Kim, S.K., Byon, K.K., Yu, J.G., Zhang, J.J. and Kim, C., 2013. Social motivations and consumption behavior of spectators attending a Formula One motor-racing event.Social Behavior and Personality: an international journal,41(8), pp.1359-1377. Mao, L.L. and Huang, H., 2016. Social impact of Formula One Chinese Grand Prix: A comparison of local residents perceptions based on the intrinsic dimension.Sport Management Review,19(3), pp.306-318. Pinch, P. and Reimer, S., 2017. MotoGP and heterogeneous design.Mobilising Design. Rogers, T. and Davidson, R., 2015.Marketing destinations and venues for conferences, conventions and business events(Vol. 14). Routledge. Schreyer, D. and Torgler, B., 2016. On the role of race outcome uncertainty in the TV demand for Formula 1 Grands Prix.Journal of Sports Economics, p.1527002515626223. Steenkamp, J.B., 2017. Customer Propositions for Global Brands. InGlobal Brand Strategy(pp. 45-73). Palgrave Macmillan UK. Van Reeth, D., 2016. TV viewing of road cycling races. InThe economics of professional road cycling(pp. 99-128). Springer International Publishing. Walkerley, R., 2016.Moments that Made Racing History. Edizioni Savine.