Corporate Governance On The Capital Investment Decision - Free Essay Example

Sample details Pages: 13 Words: 4034 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Did you like this example? ABSTRACT This paper investigates the factors that determine the sensitivity of the investment-cash flow relationship. The Q model assumption is used to relate the investment opportunities available to the managers with its liquidity constraints due to asymmetric information and managerial discretion of internally sourced free cash flow. The result purports that there is a positive relationship between the degree of the Investment-Cash flow relationship and Q, found in low or no dividend paying firms. Don’t waste time! Our writers will create an original "Corporate Governance On The Capital Investment Decision" essay for you Create order It is evident that the results are in support of Myers Maljuf (Myers Maljuf, 1984) pecking order theory of the investment-cash flow relationship. TABLE OF CONTENTS LIST OF TABLES Introduction Overview Through various studies over the years, different scholars and financial analysts have been able to establish a relationship of cash flow on firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment spending. It was significantly proven by (Modigliani Miller, 1958) that a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial status is irrelevant for real investment decisions in a world of perfect and complete capital markets, after controlling for the cost of capital. In case of managerial discretion, based on (Jensen, 1986) free cash flow theory, firms increase investment (including projects with negative present value) based on the availability of cash flows with incentive of increasing firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ value beyond level of optimal investment. Moreover, an agency costs also appreciate the borrower net worth by charging a premium on the external financing. The discussion above explains that the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment decisions are dependent on the availability of internal funds, as cost advantage over external fund is evident. While choosing an appropriate capital structure, there are certain trade-offs which affects the decision. These trade-offs include tax advantage through acquiring debt against the bankruptcy cost which advocates the use of equity. Keeping this in view, various different models have been supported to explain this corporate capital structure behavior. Pecking Order Theory, initially mitigated by (Donaldson, 1961) describes the financing practice as prioritizing the means of financing, which is necessary for the management to counter against asymmetric information. Either they should generate the funds internally or acquire funds externally through debt rather than equity. Implications to the pecking order theory involves the positive impact of leveraging on the market price, which means, financing through debt sends a positive signal into the market about the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s future prospects. Furthermore, intermediaries also undermine the role of management as the financial intermediaries such as investment banks function as the insider to the firm. Consequently, keeping an eye on the firms operations and influencing the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital financing decision. However, Pecking order theory of (Myers Maljuf, 1984) argues that the firms operating in imperfect or incomplete capital markets where the cost of external capital exceeds that of internal funds, the financial structure may be appropriate to the investment decisions of companies facing uncertain prospects. Gauging the level of corporate investment in any firm is based on the corporate governance; market position of a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s asset against its book value can be termed as Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q ratio. Identified by (Chung Pruitt, 1994), Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q as proportion of firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ market value to replacement cost of its assets. Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q can be considered an effective tool for determining financial performance as the data can be collected readily from a balance sheet. When calculating Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q ratio, the replacement cost can be determined approximately by the book value of firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s plant and equipment. Approximate q can be replaced with the actual Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q to make the calculations unproblematic and data can be readily available without any discrepancies. Problem Statement To study the impact of corporate governance on the capital investment decision through cash flow and Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q interaction in relation with Capital Investment HypothesEs H0: Firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ cash flow having a significant impact on its capital investment will be linked with high Q values. (FCF Theory) HA: Firms being liquidity constrained due to least payout will have significant investment-cash flow sensitivity, and will be linked with high Q values in the market. (PO Theory) Outline of the study The report contains the contemplation of research data that will study the phenomenon of cash flows and investment discussed earlier in this paragraph. The study categorizes firms according to characteristics (such as dividend payout, size) which will help measure the level of constraints faced by firms. The study will help readers to understand the complexities of Pecking order theory and Free Cash Flows concept with regard to asymmetric information available and corporate governance which influences decision of the firms. To measure the effect that cash flow-financed (internally sourced) capital spending and Q has on firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment, Ordinary Least Square Regression model will be used to estimate the function. To compute the influence on the Investment, instruments used are: (1) Cash Flow, (2) Approximate q, and (3) an interaction of both variables are created. Through studying the parameter estimates of interaction variable, positive influence on investment will support the Pecking Order hypothesis and negative influence will govern the Free Cash Flow hypothesis. The equation hypothesized in the next part is linear. Definitions Pecking Order Theory: (Myers Maljuf, 1984): à ¢Ã¢â€š ¬Ã…“A firm is said to follow a pecking order if it prefers internal to external financing and debt to equity if external financing is used.à ¢Ã¢â€š ¬? Free Cash Flow Theory According to (Jensen, 1986), à ¢Ã¢â€š ¬Ã…“free cash flow theory, high cash flow and low debt create agency costs associated with conflicts between manager and share holder over the payout of this free cash, which is the cash left after the firm has invested in all available positive net present value projects.à ¢Ã¢â€š ¬? Capital Structure à ¢Ã¢â€š ¬Ã…“A careful and systematic analysis of how claims against a corporations assets can or should be determined, assessed, and accounted for.à ¢Ã¢â€š ¬? (Riahi-Belkaoui, 1999) Capital Investment Decision à ¢Ã¢â€š ¬Ã…“Capital Investment decisions are those decisions that involve current outlay in return for a stream of benefit in future years.à ¢Ã¢â€š ¬? (Drury, 2006) Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q à ¢Ã¢â€š ¬Ã…“Tobins q is a measure of investors expectations concerning a firms future profit potential. It is defined as the ratio of the market value of a firm to the replacement cost of its assets.à ¢Ã¢â€š ¬? (Strecker, 2009) Literature Review Vogt (Vogt, 1994) explained the capital spending behavior of companies with respect to change in dividend cash paid, cash flows, sales, and market value of assets. The regression equation models the variables to proportion of fixed assets, and distributes the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ data in segments of Dividend Payout Groups and Asset Groups. Primarily, Dividend Cash has a strong negative impact on capital spending; it explains that in order to finance additional fixed investment firm needs to sock cash by reducing their dividend. Cash flow, Sales, and Q Ratio having a positive coefficient demonstrates that with an increase in future cash flows, the firm will improve its capital spending. A relationship has been developed between the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment decision and the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial status by Cleary (Cleary, 1999), financial status has been studied with respect to the liquidity constraints. The data is classified into groups through a discriminant analysis on basis of dividend payout policy. Groups taken into study have made possible to identify firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ which are more financially constrained more likely to be investment-cash flow sensitive, furthermore, availability of internal sources of funds have a greater impact on firms with high credit worthiness, and vice versa. It has been proposed that the various ownership structures make managerial decision based on the interaction between investment and the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ liquidity constraints. The study conducted by Dedoussis Papadaki (Dedoussis Papadaki, 2010) mentioned that the management can be held separate from its ownership, even on basis of the nationality of the company. On the other hand, it also explained that the relative shareholding of CEO and the controlling shareholders can also be the basis of separation. The sample used in the study was separated and grouped on basis of dividend payout, asset size of the firm, age of the firm, source of control, and kind of ownership. On the given sampling criterion; greater asset size firms, older firms, lower Q (high investment opportunity), and high dividend payout firms showed higher cash flow sensitivity towards investment. Findings support that the Low Q, small, and new firms under the generalized model are facing asymmetric information problems. Indeed these firms are expected a priori to face financing problems that affect the cost of their external financing. On the other hand, low Q, old and low dividend firms are more likely to face managerial discretion problems that result to over-investment. The impact of Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s Q is mainly used to determine the investment opportunity of the firm. In this article, marginal Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s Q has been taken to evaluate the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment and Research Development expenditures. The asymmetric information (AI) hypothesis proposed that firms provided with a profitable investment-project may not be able to source it through internal cash flows and the high financial cost of borrowing funds externally due to lack of awareness of firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment opportunity in the capital market. On the other hand, agency or managerial discretion (MD) hypothesis constructs the investment-cash flow relationship on the assumption that managers are well qualified in context with proficiency they obtain from managing a huge and fast paced firm and thus exceeding the wealth shareholders beyond their expectations. (Gugler, Mueller, Yurtoglu, 2004) Taking in viewpoint the impact of capital structure on the capital investment decision, firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment demands is the more susceptible towards cost-of-capital or tax-based capital incentive. Whereas, capital structure seems irrelevant as against internal sources of funds can be effectively substituted with sources of funds generated externally. The size of the investment project can be a deterministic factor towards it. Fazzari, Hubbard, Peterson, Blinder, Poterba (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) explicates that cash flow/investment relationship is more sensitive when taken in reference with firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ dividend behavior. Comparison based on firms having more or less liquidity constraints can be further improved when compared on a division based on the scale of the firms, i.e. young or small firms versus large ones. This way the researchers can address the problem of firms lacking the asymmetric information. Under the impression where capital investments decisions mainly pertains to the capital structure or choosing the appropriate source of investment, Schaller (Schaller, 1993) conducted three different empirical tests to determine that information asymmetries have a huge influence on the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment behavior. Differences among the informational base of investors and creditors was also considered a capital market imperfection. Ownership status and age of the firms has an impact on the cost of equity financing, mature firms pay comparatively less price for it than young firms. Same aspect goes for the firms with concentrated with comparison to dispersed ownership. Borrowing is considered a more rational source for investment-projects. Pledgeable assets generate greater borrowing capacity, which afterwards makes firms invest more in pledgeable assets. As suggested by Almeida Campello (Almeida Campello, 2007), such a phenomenon can be termed as a credit multiplier. In case of financially constrained firms, a multiplier relates to the sensitivity of firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment-cash flow relationship that is reflected as the increase in the tangible assets of the firm. Therefore, it is proposed that with fewer tangible assets firms are more likely to be financially constrained. The sensitivity of investment-cash flow relationship is evidently influenced by the tangibility of a firm, as latter discussed. Managers while making capital investment decision considers externally-sourced funds costlier, therefore, overconfident managers over assessing the profitability of an investment-project invests more when having abundant internal funds to utilize. However, deciding not to source externally in case where they are short of internal funds to generate. There has been an evidence of significant relationship between the managerial discretion and investment-cash flow sensitivity. Equity concentrated firms are more likely to be influenced by overconfident managers, unless compensation tools can be used to reduce the effects of managerial overconfidence. (Malmendier Tate, 2005) Goyal Yamada (Goyal Yamada, 2004) have explained the impact of asset pricing in the stock market against investment-cash flow sensitivity. Overvalued stock prices triggers an increased in investment spending and are cut back when stock are being undervalued, consequently, inflated prices collateral assets attract higher level of external financing. Inflationary pressures primarily determined by the economic monetary policy impacts on the variation of cost on external financing, though it reflects highly on cost of external financing, marginally impacts less on the investment-cash flow sensitivity. It has been observable that less financially constrained firms have significantly higher investment-cash flow sensitivity. Characterizations of firms based on financial constraint can sometimes create confusion. Firms having unusually high cash holdings can either be characterized as unconstrained based on the opportunities it has to invest or constrained based on the assumption that it needs to have a precautionary savings to invest in future investment projects. Therefore, financial constraints cannot be used as an influential determinant for investment-cash flow sensitivity. (Kaplan Zingales, 1997) Hu Schiantrlli (Hu Schiantarelli, 1998) put into picture the effect of general economic factors and various firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ characteristics on the value of the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ net worth. Mainly financial status is the most important determinant for the level of asymmetric information problem that managers face. A strong balance sheet position can reflect good sign of firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ performance which enhances the market value of the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ asset to its stake holders, mainly investors and creditors. Q models assumption also assists in determining the sensitivity of the investment-cash flow relationship, where the indicators determine the investment opportunity and the sources of funds to choose from. Understanding the market influence in proxy of q can also give a clear picture to the movements in the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investment over a period. Net worth of firms helps manager determine if the sourcing of funds externally is a viable option in contrast to the investment opportunity which underlies. (Hubbard, 1998) Research conducted on the investment-cash flow sensitivity addresses many aspects of the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ financial strength. Further study by Calomiris Hubbard (Calomiris Hubbard, 1995) shows that when firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ tax taken under investigation also reflected a significant influence on the volume of spending on investment-projects. They explored the impact of surtax margin, as a tax experiment, on the cost of internal and external funds. Surtax when levied on undistributed profits, obligate the firms to incur certain cost on the internal funds. This effects the managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ decision to invest and is also reflected on the investment-cash flow sensitivity against the surtax margin. As a result to evade burden of higher cost on internal funds, firms with high surtax-margin exhibits elevated sensitivity in investment-cash flow relationship. Quan (Quan, 2002) discusses the Pecking Order theory with reference to the Modigliana-Miller proposition that works under the assumption of perfect market. Here it is stated that value of the firm is irrelevant and based on a few limitations the choice of financing can be determined via gauging the strength of the firm. These factors pertain to the imperfect market and influence the managers to make their capital investment decision. Once the assumptions are released the financing structure shows a clear picture. The association between Free Cash Flow theory and Agency theory has always been under the limelight when there is a question of retaining the undistributed profits. FCF Theory taken under consideration gives out an option to the management to hold on to excess cash sacrificing the shareholders opportunity cost. These excess funds can be generated to better internal operational efficiency or at managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ discrepancy to source its investment-projects. (Wang, 2010) Research Methods The chapter explains the model used in the given research study. The study focuses on analyzing the influence of Cash Flows and Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q on Corporate Investment. The equation represented by a dependent variable as a ratio of capital spending to the beginning net fixed asset (I/K) predicted by independent variables: (1) ratio of cash flow to the beginning gross fixed asset (CF/K), and (2) beginning Tobins q (Q). Method of Data Collection Main source of collecting the required data is from secondary sources. It includes the Balance Sheet Analysis of Joint Stock Company listed in Karachi Stock Exchange provided by State Bank of Pakistan consisting of data of our relevant variables. The data was taken in annual terms to conduct this research. Sampling Technique The Convenience sampling or grab or opportunity sampling would be use in this research. Sample population selected because it is readily available and convenient. Sample Size The sample period taken under study covers 8-years period beginning at the start of 2000 and ending at the close of 2008. The data was taken from a sample of 70 (non-banking and non-financial) companies which are listed on Karachi Stock Exchange and included in KSE-100 index. Research Model Statistical technique Ordinary Least Square Regression technique is used to study the impact of variables included in the study. It helps studies the relationship between a dependent variable and several independent variable. It also assumes the relationship to be linear or à ¢Ã¢â€š ¬Ã…“straight line,à ¢Ã¢â€š ¬? where the values of predictors lies directly proportional to Criterion variable. SPSS Software is used to develop the regression model and evaluate the influence of predictors on dependent variable. Results Findings and interpretation of results Aggregate Sample: Table : Represents the model summary of regression estimates for the full sample of 69 firms The predictors, i.e. main effects of Cash Flow and Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q and an interaction variable of both combined, included in the model explains 78.5% of Investment (Table 1) shown mentioned as R Square. Least variation in Adjusted R Square suggests that the variable to observation ratio in the given model is sufficient. Casewise diagnostic was also conducted to eliminate the outliers in the data to improve the results. Table : Studies the F-statistics to test whether the model predicts the dependent variable significantly The F-statistics (Table 2) is significant and it determines the regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : The parameter estimation for full sample of 69 firms with respect to dependent variable, t-statistics is used to test the null hypothesis ÃŽÂ ²1 = ÃŽÂ ²2 = ÃŽÂ ²3 = 0 The coefficient values of all predators included in the test are significant at a 0.05 significant level (Table 3), which shows that they have a strong influence on the investment of the firm. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q. Dividend Payout groups: Table : Presents the sample statistics for 69 KSE listed (non-banking and non-financial) companies which are included in the KSE-100 index. The three rows distribute the statistics into High, Medium, and Low payout policies. Average dividend-to-income ratios of greater than 0.35, between 0.35 and 0.10, and less than 0.10 define High, Low, and Medium dividend-payout firms, respectively. While studying the dividend-payout groups (Table 4), the descriptive helps to identify characteristics to confirm whether the data being studied has the authenticity and the behavior pattern which commonly related to the groups assigned. The values of Investment, Cash Flow, and Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q associated with the groups are in complete correspondence with the hypothetical occurrence. Firms having a higher (lower) dividend payout have greater (lower) market value, and lower(higher) level of cash flows and investments. Table : Represents the model summary of regression estimates of 69 firms split by High, Medium, and Low dividend-payout policies. The model helps explains 81.9%, 66.7%, and 80% data in High, Medium, and Low dividend-payout firms (Table 5), shown in R Square. Least variation in Adjusted R Square suggests that the number of observations is sufficient with respect to variables in each group separately. Table : Studies the F-statistics to test the null hypothesis of ÃŽÂ ²1, H = ÃŽÂ ²1, M = ÃŽÂ ²1, L The F-statistics (Table 6) in each dividend payout group is significant and it determines that each regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : Shows the parameter estimation for each payout groups with respect to dependent variable, t-statistics is used to test the null hypothesis ÃŽÂ ²1 = ÃŽÂ ²2 = ÃŽÂ ²3 = 0 The coefficient values of predators in High and Low dividend payout groups are all significant at a 0.05 significant level (Table 7), which shows that they have a strong influence on the investment of the firm. Except for Medium dividend payout group, which has insignificant coefficient values of Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q, showing no impact on the investment. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobinà ¢Ã¢â€š ¬Ã¢â€ž ¢s q. Hypothesis Assessment Summary Hypothesis Independent Variables B t Sig. Comments Firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ cash flow having a significant impact on its capital investment will be linked with high Q values. (FCF Theory) Cash Flow ÃÆ'— Q H0: ÃŽÂ ²3 0 ÃŽÂ ²3,H = .135 5.295 .000 Rejected ÃŽÂ ² 3,M = .072 .991 .324 ÃŽÂ ² 3,L = .140 5.482 .000 Firms being liquidity constrained due to least payout will have significant investment-cash flow sensitivity, and will be linked with high Q values in the market. (PO Theory) Cash Flow ÃÆ'— Q HA: ÃŽÂ ²3 0 ÃŽÂ ² 3,H = .135 5.295 .000 Accepted ÃŽÂ ² 3,M = .072 .991 .324 ÃŽÂ ² 3,L = .140 5.482 .000 Dependent Variable: Investment (I/K) Table : Summarizes the results and explains that the hypothesis accepted is directly in correspondence with the aggregate hypothesis. As illustrated (Table 8) capital spending of low payout firms is positively and strongly influenced by the interaction term, consistent with the PO hypothesis, the parameter estimate for the high payout firms are also positive but marginally significant. Conclusion, Discussions, Implications And Future Research Conclusion The results illustrated above demonstrates that the positive relationship between the degree of the Investment-Cash flow relationship and Q represented latter in the aggregate data (Table 3) is concentrated in low or no dividend paying firms. This finding is in further support with the PO hypothesis. Discussions The objective was to study and test the causes of universal relationship between Cash Flow and Investment Spending. Hence, two hypotheses were included in the research to study the source of this relationship: the free cash flow hypothesis (FCF) hypothesis, which works on the assumption that managers prefer investing its free cash flow excessively into investment projects that are not profitable, and the pecking order hypothesis (PO) purports that managers are prone to investment comparatively less than the opportunity provided due asymmetric information-induced liquidity constraint. As advocated in favor of Pecking Order Theory by (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) and many others, for groups which consists of small firms with low-dividend payout to fund capital spending, exhibits heavy reliance on cash flow and cash changes. The relationship can be more significantly studied when the impact of larger q value is associated with this group. Evaluating the impact of corporate governance on investment-cash flow relation requires a critical judgment as to how do the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ cash flow and the existing market value influence the investment decision. Financially constraint firms may have a larger impact on liquidity associated matters and managers might take discretion in choosing the right sources to tap. Agency cost may be involved in making such a decision where managers may consider paying dividend as a higher opportunity cost as it reduces the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ free cash flow to exploit new profitable investment projects. Implications and Recommendations In the current market situation where external pressures existing can also be taken into proxy. When managers making a capital investment decision they need to take in view other non-financial aspects that also influences the decisions to a certain extent. Furthermore, financial intermediaries having a certain level of involvement and sharing information sensitive to the market can also be a major factor that might be giving a varying result against Investment. Investing in profitable-investment projects can bring in greater resources to the firm in future and it entails a huge decision burden upon the shoulders of the managers. Shareholders expecting to earn a greater return through investing in them can also be undermined when manager decided to have a low payout policy. Funds generated internally is a possibility where there is a healthy cash flow, but it is also preferable if this free cash is invested into marketable security for allocating the resources into a profitable venture for a time being to make it a positive impression. Future Research In future studies there may be more aspects of cash flow-investment relationship which can be studied for assessing the degree impact it has on this relationship, i.e. sales, debt performance, capital structure, firm size, etc. The research study may also be improved if the observation of firms are increased that will in turn reflect a more clear picture about the relationship in the current scenario.

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Question: Discuss the impacts of cross cultural management on business. Answer: Cross cultural management Cross cultural management can be referred to the management of business teams while considering the diverse cultures, preferences, practices of consumers in the context of global or international business context. Thus, while developing the business, the leaders should have to consider the conflicts that could be raised while working in the cross cultural context and the leaders should such management skills to handle these kinds of skills (Ting-Toomey and Chung 2012). Many organizations thus need to adapt and modify their business approaches and processes fir competing on a level in diverse field where no geographical boundaries remains. The international business has been started hundreds years back, however, the importance of intercultural interaction has enhanced as more people started to access wider markets through the help of new technologies. Different professions require the inclusion of cross cultural management as the part of their training or program curriculum. Communication is a major part in the cross cultural management. The leaders of businesses should have training to achieve appropriate cross cultural communicational skills for dealing with people from different culture in global context. In this context, the organization needs to understand what are the requirements for managing a business in cross cultural context (Yu and Ko 2012). The cross cultural management needs to understand the ways by which national culture affects the management practices. It also seeks to characterize the differences and similarities through the cultures in different management practices as well as the organizational con text. The cross cultural management also seems to enhance the effectiveness of global management. Most of the large organizations consist some business relations with different stakeholders in some other countries belonging from other cultural context and the organizational members have to deal with them regularly. The cross cultural management assists those members of the organization to understand other cultures better while working together with people from other culture. The use of effective cross cultural management through the business team can enhance the ability of innovative and critical thinking skills and experience of the team members and thereby making them capable of contributing in the enhancement of organizations competitive position in the global market. A number of social and cross cultural theories can help to gain an insight of the effect of cross cultural management in the business. Acquiring the cross cultural skills help to make employees more self-sufficient which enhance their performance efficiency and thereby enhancing the entire business performance and sustainability (Thomas and Peterson 2014). Japan as a country A Paleolithic culture was the first known habitat of Japanese archipelago around 30,000 BC. The class followed by Mesolithic towards Neolithic semi-sedentary hunter-gatherer culture including the ancestors of both Ainu people and yamato people. It happened during 14000 BC. Around 300 BC, Yayoi people entered in the Japanese island. The nation appeared in the written history of Chinese Book of Han first. Japan is a constitutional monarchy and the power of Emperor is limited here. He has depicted that the symbol of State and of the unity of the people. The prime Minister has the power along with other elected people of the Diet, whereas the sovereignty is vested in Japanese people. The current Emperor of Japan is Akihito. The legislative organ of Japan is the national Diet, seated in Chiyoda, Tokyo. The current population of Japan in recent days has been estimated to be 127 million, within which 80% people lives on Honshu. The society is culturally homogeneous and linguistically composed of 98.5% ethnic Japanese (Caligiuri and Tarique 2012). The dominant and native ethnic population of Japan is Yamato people and the indigenous Ainu and Ryukyan peoples are the minority groups. The country has second longest overall life expectancy at birth in the world with 83.5 years for the people born in 2010-2015. However, change in demographic structure has raised a number of social issues in the community. The economic growth of the country started in the period known as the Edo period. Japan expanded economically during the Meiji period since 1868. Growth slowed during 1990s which has been followed by global slowdown in 2000. Three quarters of gross domestic product is provided by the service sector (Kawar 2012). 84 to 96% Japanese population are the followers of Buddhism or Shinto. Japanese beliefs have also been influenced by Taoism and Confucianism from China. In Japan, 99% people talks in Japanese, being their first language. In addition, Ryukyuan languages are also used. While analyzing educational system, there are two top-ranked universities. 75.9% high school graduates attend university, trade school, junior college or other higher educational institute (Lin et al. 2012). Decision making in Japans management The decision making process in slow in Japanese management. Thus, the length of decision making process is a very common issue of a person who works in a Japanese company. The root of the decision-making process in the Japanese firm is in the feudal period. At that period wide range of Japanese people lived in rice farming villages and they realized that it is much better to take decision together, collectively. The senior people in the community led the decision making process. The Japanese companys decision making pattern is much similar to the rice farming villagers. In the classic Japanese decision making process a long process is done. The purpose of the things are addressed, then data related to those deliverables are gathered and analyzed, then a consensus requirement is set which needs to be met and then the senior most people in the organization is being convinced for gaining the final guidance (Peltokorpi and Froese 2012). Finally, after gaining approval from the senior peo ple, the decision making session is completed. As a result, the decision making process in the company takes longer period than the other national culture. However, from the viewpoint of the Japanese community, this slow procedure can lead to the best possible decision for the business. The feudalism culture has gone from the Japanese culture long time ago, but the behavioral pattern is rooted in the society till date and it influences the decision making processes in the Japanese organizations. In contrast, the decision making process in American company is quite faster. The workers in Japanese company have mixed feelings about their native decision making process. The employees will admire that the decision making process takes longer time and which is quite frustrating as it is not subjected to change. However, the decision making process has advantages if executed properly. It proves that all the departments in the firm are participating in the decision making and are agreed to implement the decision in the workplace. As the process allow many people to take part in the decision making process, it makes the group to feel valued. In addition, the thorough data collection process help to make well thought out decision. Besides the positive part of the decision making process, the challenge is the quickening rate of the technological progress (Hartley 2012). In this situation, the employees who are working in the Japanese company, feels as handcuffed, if they try to respond to the request of a customer quickly. Thus, the Japanese companies are at the risk of remaining behind in the global competition. Implications for manager of a different culture working in Japan From the review of the Japanese management culture, it has been seen that the decision making processes of the organizations in Japan is quite slow than the other countries. Thus, while working in a Japanese company from a cross cultural background, the employee has to consist the cross cultural communication skills to interact with the employees in a cross cultural context. A cross cultural training for the employee can be suggested which can help the employee to adjust in the new environment. The training would help the employee to understand their business processes, pros and cons, cultural background and language related knowledge. The key differences in business culture including communication style, leadership style and human resource practices would be discussed (Peltokorpi and Froese 2012). In the Japanese companies, most of the employees stay in a company throughout their carrier, thus they are less worried about employee retention. Thus, for the employee working in the Japa nese company, it would not be a concern. However, language is a major concern, as 99% people speak in Japanese. The Hofstedes cultural dimensions theory established by Geert Hofstede discusses about the effects of culture in a society on the members values as well as how these values link to behavior. According to this theory, while working in a different cultural background, people have to adapt the norms and values of the new environment in order to sustain in the new environment. Therefore, the employee has to understand the importance of the culture-difference awareness. The training session would include some basic myths which would help the employee to engage himself in the new environment. These myths are, Dont Worry Be Happy, All Apologies, Down with the sickness, Hard Days night and taking care of Business. Long working hour is common in Japanese company, thus the employee would have to adapt working in longer period. Another important fact in Japanese company is that, people cannot take sick leaves; they believe that it is better to die rather than taking a sick leave. Therefore, the person has to take good care of him in spite of getting sick. Here, employees always needed to apologize, in spite of the situation (Mathews and White 2012). Therefore, the manager or the employee needs to adapt to apologize in this situation for reducing organizational conflict. In addition, the employee also needs to build patience in taking organizational decision makin g, as this process is slow in the Japanese companies (Froese et al. 2012). Conclusion In conclusion, it can be said that this report highlights the management and trends of Japanese cross cultural management. Here, the concept of cross cultural management has been discussed along with the impacts of cross cultural management upon business. In this context, the management and decision making procedures in Japan has been discussed here. In this context, the suggestion for a manager from a different cultural background working in a Japanese company has been discussed. It has been identified that the Japanese decision making process is slower than other nations which is a common issue regarding the cross cultural management. This assignment highlighted how to manage in such situation. Reference List Caligiuri, P. and Tarique, I., 2012. Dynamic cross-cultural competencies and global leadership effectiveness. cia.gov, 2016.Welcome to the CIA Web Site Central Intelligence Agency. Froese, F.J., Peltokorpi, V. and Ko, K.A., 2012. geert-hofstede.com, 2016.Cultural Insights - Geert Hofstede. [online] Geert-hofstede.com. Hartley, J., 2012.Communication, cultural and media studies: The key concepts. Routledge. Kawar, T.I., 2012. Cross-cultural differences in management.International Journal of Business and Social Science,3(6). Lin, Y.C., Chen, A.S.Y. and Song, Y.C., 2012. Does your intelligence help to survive in a foreign jungle? The effects of cultural intelligence and emotional intelligence on cross-cultural adjustment.International Journal of Intercultural Relations,36(4), pp.541-552. Mathews, G. and White, B. eds., 2012.Japan's changing generations: are young people creating a new society?. Routledge. Peltokorpi, V. and Froese, F.J., 2012. The impact of expatriate personality traits on cross-cultural adjustment: A study with expatriates in Japan.International Business Review,21(4), pp.734-746. Peltokorpi, V. and Froese, F.J., 2012. The impact of expatriate personality traits on cross-cultural adjustment: A study with expatriates in Japan.International Business Review,21(4), pp.734-746. Thomas, D.C. and Peterson, M.F., 2014.Cross-cultural management: Essential concepts. Sage Publications. Ting-Toomey, S. and Chung, L.C., 2012.Understanding intercultural communication. New York, NY: Oxford University Press. worldvaluessurvey.org, 2016.WVS Database. [online] Worldvaluessurvey.org. Yu, J.Y. and Ko, T.G., 2012. A cross-cultural study of perceptions of medical tourism among Chinese, Japanese and Korean tourists in Korea.Tourism Management,33(1), pp.80-88.

USING ELEMENTS OF HIP-HOP CULTURE AS A MEANS OF INCREASING STUDENT IN

USING ELEMENTS OF HIP-HOP CULTURE AS A MEANS OF INCREASING STUDENT INTEREST AND LEARNING AMERICAN GOVERNMENT USING ELEMENTS OF HIP-HOP CULTURE AS A MEANS OF INCREASING STUDENT INTEREST AND LEARNING AMERICAN GOVERNMENT By John H. Mayberry, Jr. For ED 7999: Terminal Masters Project Submitted to the Office for Graduate Studies, Graduate Division of Wayne State University Detroit, Michigan In partial fulfillment of the requirements For the degree of Master of Arts in Teaching 2004 MAJOR: SECONDARY SOCIAL STUDIES EDUCATION Approved by: ________________________ Dr. Bob Pettapiece Date CHAPTER ONE INTRODUCTION TO THE PROJECT Introduction One of the myriad challenges that face conscientious educators is the need to get and keep the attention of their students. With all of the fast-paced, mind-grabbing activities that students have at their fingertips, the task of sitting in a classroom and listening to a teacher talk to them (or at them) about anything can be everything but interesting. Teachers may have become comfortable with the way they do things in their classrooms; their ways are easy to them, it does not require creativity, and it can be perceived as a threat to their role as the classroom authority and expert in subject matter to be asked to change. However, the methods that some educators use may not result in student learning and mastery of the subject matter. Educators, as professionals, must be willing to develop, emulate, and initiate new strategies if there is the possibility that the use of these strategies would lead to improved student learning. One strategy that has been found effective is using elements of popular culture in teaching social studies. By starting with and using cultural items with which students are familiar and can relate, student interest in studying the subject may increase, resulting in better performance in the classroom, and better feelings about studying social studies. The teacher must become familiar with the culture that the students are immersed in, whether it is music, television, fashions, or other elements of their culture. The teacher must also be willing to connect the students culture to the subject matter being studied. This presents a challenge as many teachers, because of the differences in age, usually do not identify with the same popular culture as students. Purpose of the Study There were two questions to this study. First, would studying American government through the means of Hip-Hop culture result in increased student interest in the subject matter? Secondly, would studying American government through the means of Hip-Hop culture result in improved student performance in the course? By taking a look at these two questions, it may be possible to determine if infusing elements of popular culture is an effective educational strategy for teaching social studies. Significance of the Study This study should be of interest to social studies educators. If we wish to understand our students and reach them, we should understand the world that they dwell in. By understanding hip-hop culture, as well as popular culture as a whole, we, as educators, might find and develop strategies and activities that will have a positive affect on students desire to study social studies and their understanding of social studies concepts and information Population The population of this study included 10th graders from two sections of an American government course in an urban high school. All of the students were African-American ages 14-16. There were twenty-nine students in the traditional class (3rd Hour) and 31 students in the non-traditional class (5th Hour). Summary This study will demonstrate two things: First, studying American Government through the means of hip-hop culture will result in an increased interest in studying American Government, and secondly, studying American Government by using hip-hop culture will result in improved student performance. CHAPTER TWO REVIEW OF RELATED LITERATURE Introduction This chapter contains a review of literature related to the concept of using elements of popular culture in teaching in general, and social studies in particular. Research The inclusion of popular culture forms into the educational realm has a long history and has been accepted as a legitimate teaching strategy, in some realms. For example, using elements of popular culture in educational films and videos has been a welcome reality for decades. Yet, research in the field of popular culture forms like dramatization, television commercials, and rock and rap videos, how it pervades the lives of young people, and how schools should respond, is

Pro-Slavery essays

Pro-Slavery essays Essay Two-Analyze the ways in which supporters of slavery in the nineteenth century used legal, religious, and economic arguments to defend the institution of slavery. Many supporters in the nineteenth century used religious, legal, and economic arguments to keep minorities down. The supporters had a hard time coming up with excuses to keeping the institution of slavery especially when it came to the economy. One man stated that he was convinced that the nature of the climate, and the flat swampy situation of the country, obliged people to cultivate that lands with Negroes, and that with out them the land would soon be desert waste. One would think that it is obvious that his view was based on a selfish desire to avoid menial labor. Not to mention it is ridiculous to think swampy land would become a desert if it was not cultivated. Supporters came up with many off the wall arguments in order to defend slavery. The church also had a supporting part in slavery, although they did look to the biblical text when questioning where they stood. They believed that slave holding was never condemned in the Bible and that the master-slave relationship was superior, and more Christian like, than the employer-employee relationship of the free labor system. Another popular religious argument was the Abrahamic tradition. Abraham was both a great slave holder and Gods favorite patriarch of a household that included his many slaves; God recognized the relation of master and slave, thus slavery couldnt be sinful. The laws at the time were also pro-slavery. White Americans did not consider black slaves to be human and the laws reflected that. Slaves were defined as chattel, tangible movable or immovable pieces of property. By law a slave could be bought, sold, or inherited. They had no rights or individual freedoms; a slave was not able to hold a case in court, ow...

Prehistoric Semi-Subterranean Winter Houses

Prehistoric Semi-Subterranean Winter Houses The most common form of permanent housing in the prehistoric period for arctic regions was the semi-subterranean winter house. First built in the American arctic about 800 BC, by the Norton or Dorset Paleo-Eskimo groups, semi-subterranean houses were essentially dugouts, houses excavated partially or completely below the ground surface to take advantage of geothermal protections during the harshest of climates. While there are several versions of this form of house over time in the American arctic regions, and in fact there are several related forms in other polar regions (Gressbakken Houses in Scandinavia) and even in the great plains of North American and Asia (arguably earth lodges and pit houses), semi-subterranean houses reached their highest pinnacle in the Arctic. The homes were heavily insulated to ward off the bitter cold, and constructed to maintain both privacy and social contact for large groups of people despite that harsh climate. Construction Methods Semi-subterranean houses were built of a combination of cut sod, stone, and whalebone, insulated with sea mammal or reindeer skins and animal fats and covered with a bank of snow. Their interiors possessed cold-traps and sometimes dual seasonal entrance tunnels, rear sleeping platforms, kitchen areas (either spatially discrete or integrated into the main living area) and various storage areas (shelves, boxes) for stowing food, tools and other household goods. They were large enough to include members of extended families and their sled dogs, and they were connected to their relatives and the rest of the community via passageways and tunnels. The real genius of semi-subterranean homes, however, resided in their layouts. At Cape Espenberg, Alaska, a survey of beach ridge communities (Darwent and colleagues) identified a total of 117 Thule-Inupiat houses, occupied between 1300 and 1700 AD. They found the most common house layout was a linear house with one oval room, which was accessed by a long tunnel and between 1-2 side spurs used as kitchens or food-processing areas. Layouts for Community Contact A substantial minority, however, were multiple large-roomed houses, or single houses built side-by-side in groups of four or more. Interestingly, the house clusters, with multiple rooms and long entrance tunnels are all more common attributes at the early end of occupation at Cape Espenberg. That has been attributed by Darwent et al. to a shift from a dependence on whaling to localized resources, and the transition to a sharp downturn in climate called the Little Ice Age (AD 1550-1850). But the most extreme cases of below-ground communal connections in the Arctic was during the 18th and 19th century, during the Bow and Arrow Wars in Alaska. The Bow and Arrow Wars The Bow and Arrow wars were a long-lasting conflict between different tribes including the Alaskan Yupik villagers. The conflict could be compared to the 100 Years War in Europe: Caroline Funk says it imperiled lives and made legends of great men and women, with a range of conflicts from deadly to merely threatening. Yupik historians do not know when this conflict started: it may have begun with the Thule migration of 1,000 years ago and it may have been instigated in the 1700s by competition for long distance trading opportunities with the Russians. Most likely it began at some point in between. The Bow and Arrow Wars ended at or just prior to the arrival of Russians traders and explorers in Alaska in the 1840s. Based on oral histories, subterranean structures took on a new importance during the wars: not only did people need to conduct family and communal life inside because of weather demands, but to protect themselves from attack. According to Frink (2006), historic period semi-subterranean tunnels connected the members of the village in an underground system. The tunnels - some as long as 27 meters - were formed by horizontal logs of planks shored up by short vertical retainer logs. Roofs were constructed of short split logs and sod blocks covered the structure. The tunnel system included dwelling entrances and exits, escape routes and tunnels that linked village structures. Sources Coltrain JB. 2009. Sealing, whaling Journal of Archaeological Science 36(3):764-775. doi: 10.1016/j.jas.2008.10.022and caribou revisited: additional insights from the skeletal isotope chemistry of eastern Arctic foragers. Darwent J, Mason O, Hoffecker J, and Darwent C. 2013. 1,000 Years of House Change at Cape Espenberg, Alaska: A Case Study in Horizontal Stratigraphy. American Antiquity 78(3):433-455. 10.7183/0002-7316.78.3.433 Dawson PC. 2001. Interpreting Variability in Thule Inuit Architecture: A Case Study from the Canadian High Arctic. American Antiquity 66(3):453-470. Frink L. 2006. Social Identity and the Yupik Eskimo Village Tunnel System in Precolonial and Colonial Western Coastal Alaska. Archeological Papers of the American Anthropological Association 16(1):109-125. doi: 10.1525/ap3a.2006.16.1.109 Funk CL. 2010. The Bow and Arrow War days on the Yukon-Kuskokwim . Ethnohistory 57(4):523-569. doi: 10.1215/00141801-2010-036delta of Alaska Harritt RK. 2010. Variations of Late Prehistoric Houses in Coastal Northwest Alaska: A View from Wales. Arctic Anthropology 47(1):57-70. Harritt RK. 2013. Toward an archaeology of late prehistoric Eskimo bands in coastal northwest Alaska. Journal of Anthropological Archaeology 32(4):659-674. doi: 10.1016/j.jaa.2013.04.001 Nelson EW. 1900. The Eskimo about Bering Strait. Washington DC: Government Printing Office. Free download

EMAIL PRIVACY Essay Example | Topics and Well Written Essays - 1000 words

EMAIL PRIVACY - Essay Example Currently, email dominates modern communication. In fact, the survey that was conducted by the Forrester Research Inc. shows that 98 percent of companies with over one thousand employees have internet access. All the companies with internet access use email as the main form of communication at the organization. Email is a very new concept in communication, and it is rapidly gaining popularity. According to Cliffon (2005), it is estimated that in America, up to 1.5 billion emails are exchanged annually. Email Privacy Most people are of the view that since the emails are more personal, they provide a good platform for people to discuss personal issues. This is never the case in most cases; in fact, emails have made communication to be less personal since privacy in communication through emails or telephones is easily compromised. It is always very hard to write personal things on the email because a third party may see them; hence, emails are greatly compromised in terms of privacy. Ac cording to Cliffon (2005), the hackers are able to crack passwords for emails and, therefore, get access to personal information of others. Hacking presents a very precarious situation because hackers may get access to critical information such as credit number of an individual or even password for an individual’s bank account thereby defrauding individuals of their lifetime investments. The internet is highly susceptible to malicious attacks. The process of composing an email to the time that it reaches the final user exposes information to several electronic dangers. Despite this reality, many people are usually oblivious of the many privacy flaws they are exposed to when dealing with email. Crawford (2008) says that most individuals tend to think that the one layer email protection by the use of password is always sufficient to guarantee email privacy yet the one layer password protection is not sufficient to protect the content of personal or business email. Privacy Risks Due to the apparent privacy hitches in email communication, users of email are exposed to a number of risks. The reason for this is that email is highly susceptible to both active and passive attacks. Passive threats vary from traffic analysis and release of message contents. On the other hand, active threats include replay, masquerade, and altering of the contents of the message. Currently, most emails are transmitted unencrypted and this presents the danger that some unscrupulous individuals other than the designated recipient can gain access to content of the email. Such unscrupulous individuals usually have some tools that they use to gain access to the contents of the email (Quigley, 2011). The idea of traffic analysis presents the danger of evading email privacy. Traffic analysis is a routine surveillance by government through monitoring of emails as a measure to counter terrorism as well a thwart any form of political eavesdropping or espionage. In as much as traffic analysi s is justified on security grounds, this approach compromises on the privacy of emails since through the process, access to the private email messages of individuals or corporate is gained. The other potential risk with regard to email privacy is the possibility of altering and modification of the contents of the email. Using spoofing tools, unscrupulous individual can intercept an email message on transit or storage and then modify the contents of such messages. Rao and Upadhyaya (2009) argue that the other potential risk of email privacy is the issue of masquerading; it is possible for an individual to send an email in the name of another person or any corporation. Moreover, it is worth noting that email messages can be resend to individuals more

Network Configurations Essay Example | Topics and Well Written Essays - 500 words

Network Configurations - Essay Example The VLANs are going to be defined in our Cisco catalyst 4300-X series switch in the VLAN Trunking Protocal (VTP). After the creation of the VLANs, there is the creation of ports. The VLANs are created using numbers and the numbers are in two ranges for the creation, that is: The creation of the solution template helps in the design of a standard modular network solutions. This solution template handles the issue of all non−standard, non device−specific configuration , for instance VLAN configuration, routing protocols, spanning tree parameters, among others (Lammle, 2011). Ideally, authentication protocols like the RADIUS, LDAP, TACACS+, among others provide a means to verify a legitimate user. These protocols are used to prevent those that are not supposed to access the out-of-band management ports. IP address filtering and authentication can also be employed. One can also opt to use Password Manager Pro which provides a centralized repository for that stores alt of passwords securely and facilitates easy administration (Ohio,

Unknown Citizen Essay Example for Free

Unknown Citizen Essay Social Security Number? Birthdate? Nine digit telephone number starting with area code? In many ways, we are simply numbers to modern society, not individuals with feelings and emotions and dreams. As the world around us evolves so does technology. With the fast paced advancements occurring in technology it seems that the humanity of the world is decreasing. This makes it harder for people to develop their own personal identity. In today’s society people are being seen more as â€Å"faceless† citizens rather than individuals. This is because they are given numbers and labeled based upon how society sees them. In â€Å"The Unknown Citizen†, W. H. Auden shows us how the government sees society as statistics rather than a group of individuals. The unknown citizen of Auden’s poem is unknown because his name has become unimportant. The subtitle â€Å"To JS/07/M/378 This Marble Monument is Erected by the State (Auden 864)† is a fictional concept that the government enforced by an alpha-numeric tag. This tag is used to distinguish who each person is. Throughout the poem the individual is being referred to as â€Å"JS/07/M/378†. The random letters and numbers followed by forward slashes are all representations of the government. Meaning each section of letters and numbers are representing something. â€Å"JS† could possibly be the first letters of his first and last name and â€Å"M† could represent his gender being male. However, the fact that his name is never mentioned and a marble statue was built in his honor in very ironic. Instead of writing his full name the government chose to use the name they had given to him. This automatically is seen as a form of dehumanizing. The statue can also be seen as a form of symbolism representing the chilling manner in which the government chose to honor this man. Auden gives the audience the perceptive that the government is honoring people who they never knew really existed while they were alive. Auden uses irony to describe how the unknown citizen was seen by the government. â€Å"He was found by the Bureau of Statistics to be one against, who there was no official complaint, and all the reports on his conduct agree (Auden 864)†, is an ironic way to start off portraying him. The Bureau of Statistics is a fictional sector of the government that finds people and categorizes them based upon facts and figures. This suggests that tatistically speaking he would be considered normal. â€Å"That in the modern sense of an old-fashioned word, he was a saint for in everything he did he served the Greater Community (Auden 864)† is another perfect example of irony. A saint in an old-fashioned sense is someone who actually stands alone to defend their beliefs and often perish while trying to overcome those enormous challenges. This life is normally seen as an extraordinary one. A saint can also be used in reference when referring to religion. However, Auden suggests that the modern saint is the complete opposite. The unknown citizen lived a life in which he was not devoted to God but to a Greater Community. The government would be considered the Greater Community. It is almost like Auden gives the government godlike qualities because they believe everyone should follow what they say. He always acted in a manner that was expected or accepted by this society. Even though Auden sounds like he is praising all of the unknown citizen’s accomplishments he truly is not. He goes on to say â€Å"he was popular with his mate† and â€Å"he was fully sensible† to show how conformed he was to society. He also followed all rules passed by the state. The way he lived his life was considered normal. He brought a paper every day and reacted in the â€Å"normal† way expected. Advertisers benefited from this because they gained statistics of their own allowing them to help their business profit. He never got involved with his children’s education allowing the government to have more control over him. â€Å"When there was peace he was for peace; when there was war, he went (Auden 865)† suggests he had no mind of his own. This man never questioned anything himself but, instead followed everyone else. Not once did he take a second out to think about something on his own. If the government said it is right then he went along with it. â€Å"He worked in a factory and never got fired, but satisfied his employers Fudge Motors Inc. Yet he wasn’t a scab or odd in his views for his Union reports that he paid his dues (Auden 864-865)† shows that his performance was based upon how his employer felt. Fudge Motors Inc. would be a parody for Ford Motors Inc. He basically dehumanized himself just so he could please the state. Auden intentionally wrote this poem in a very clinical way to make a point about how flawed the government is. Auden compares the Eugenics from the odern society to the Nazi’s in Germany. â€Å"He was married and added five children to the population which our Eugenist says was the right number for a parent of his generation (Auden 865)† can be used as connection between the two. The Nazi’s were known mainly for trying to create the perfect society. From this it is possible that Auden could be suggesting that with conformity comes chaos. Auden wrote â€Å"The Unknown Citizen† during World War II leaving the perception that maybe he wrote it about an unknown citizen who served in the war and warning the soldiers to question the government who are sending them out to fight. He points out that the government judge people based off of reports and documents and what they considered to be right. The title suggests he is talking about one person when in reality he is talking about society as a whole and how the government saw it. We as people see the government as leaders who represent and enforce our values while we are considered to be just another number. Lastly an unknown citizen falls prey to government control. The government itself is the speaker in Auden’s poem. This is why Auden uses plurals like ours. In the eyes of the state, the man they considered a saint was the governments idea of the perfect man. The government does not truly care about him just the fact that he does what he is told. Words such as Greater Community, Installment Plan, Modern Man, and Public Opinion are capitalized to show the emphasis that the government puts on these concepts. Everything about his life is closely monitored, even his private life. The fact that the government knows things like he likes to drink helps support that. Was he free? Was he happy? The question is absurd: Had anything been wrong, we should certainly have heard (Auden 864) suggests that the government does not care about people’s happiness or freedom. It is human nature for a person to want to belong and be part of something. Even though the poem was written over sixty five years ago it does have some truth. As technology becomes better, faster and accurate we are becoming more of a statistic and less human. Yet in a society that dehumanizes us, we still want to be a part of it. No one wants to be considered as an outcast or looked down upon for being different.

Essay --

Homeostasis in Zostera marina (Eelgrass) Homeostasis, what is it? Homeostasis is the balance between systems to keep living organisms alive and healthy. For an organism to maintain homeostasis its body systems must react and respond to changes in both its internal and external environments. Majority of body systems in organisms, like a respiratory or circulatory system in animals, are part of their internal environment. One body system that is very important for maintaining homeostasis and is common among many organisms is a respiratory system. The respiratory system is responsible for disposing of carbon dioxide and in taking oxygen (vice versa for plants). Some parts that make up a respiratory system are the lungs, windpipe, and cilia in animals. Another body system important to homeostasis and common among animals is a circulatory system, used for bringing nutrients like glucose and oxygen to body cells. Some parts that make up a circulatory system are a heart, blood, and tubes for the blood to travel through (veins, art eries, and capillaries) in animals. There are many more body systems important to homeostasis, but if one is disrupted it’s vital for it to be restored to normal. It is very important for organisms to maintain homeostasis because when it’s disrupted that could cause other systems to go out of balance, which may result in damage in the organism. Homeostasis can be disrupted in many ways like when a human is sick. When a human is sick it starts in the immune system and depending on the intensity of the sickness it can cause other things like water balance and body temperature to go awry which would affect other systems. Another scenario when homeostasis is disrupted is when a plants water level is low and it wilts... ...hroughout the Eelgrass. Excess water in the form of vapor is disposed of through stomata on the leaves. The gas exchange, root, and shoot systems are used in this exchange because the stomata release the excess water in the form of water vapor, which was first absorbed by the roots in the root system, then transported through the xylem in the shoot system throughout the eelgrass. Another exchange that goes on in Eelgrass is nutrients to plant cells. Again the gas exchange, root, and shoot systems are used. Nutrients are absorbed by the roots and made through photosynthesis; stomata take in carbon dioxide which is used along with light, water, and other nutrients previously stored to make more. Nutrients are carried throughout the plant to plant cells by the phloem. Homeostasis is the balance of systems in organisms and it’s very important to keep them in balance.

Nursing Process Essay

The nursing process has five key steps in it. There is an acronym to remember these by steps by; it is ADPIE. Assess Diagnose, Plan, Implement, and Evaluate. The assessment step is exactly as it states; a nursing assessment. The nurse assesses the patient and gathers information to make a diagnosis. The next step is diagnosing; in which means forming a nursing diagnosis based on subjective and objective data; and on the patient history. Once a nursing diagnosis is formed; the nurse must plan for patient care and make a care plan for treatment, setting appropriate and measurable goals to be reached. Next is implementation. In this step of the nursing process the nurse implements, or puts into action the plan of care. Lastly is evaluation; which may be last in the nursing process but needs to be done throughout the whole process. In the sense of it being stated as the last step though, it references measuring the outcome of the goal and asking some important questions. Was the goal met? Does anything need to be revised, added or removed? How has the patient responded to the care plan? I believe the nursing process is a great foundation to start with when beginning care with all patients. It sets clear guidelines to make rational decisions and ensure measured outcomes for each and every patient. Nursing Diagnosis Handbook, 9th edition Section I Pages 1-12 used as reference.

Pestel Analysis Essay

1. Explain the following concepts 1. Extended enterprise 2. Terminal delays 3. Reorder level 4. VMI 5. Pipeline inventory 2. Read the case and answer the following questions Mumbai Flour mills provide high-quality bakery flours to commercial bakers as well as to the consumer market. The commercial buyers have consistent demand and brand-loyalty, whereas consumers have minimal brand-loyalty but also generally prefer known names over store brands. Demand is seasonal for the flours with the annual break occurring just before Diwali and slacking off dramatically during January and February. To offset these both, Mumbai Flour Mills and its major supermarket chain-accounts carry out special deals and sales promotions. The Production planning Dept. of the company located at Akola, Maharashtra, has the responsibility for controlling the inventory levels at the plant warehouse at Nagpur as well as three distribution centres located at Nasik in Maharashtra, Bhopal in Madhya Pradesh and Hyderabad in Andhra Pradesh. Planning has been routinely based on past experience and history. No formal forecasting is performed. Distribution centres get their requirements by rai l from Nagpur. The lead time of replenishment from Nagpur to distribution centres is 7 days. The replenishment rate is 48 to 54 pallets per wagon depending upon the type of wagon used. In case of any emergency demand, eighteen pallets can be made available by truck with a 3 days transit time. Recently the company has experienced two major stock out for its consumer-size 5 Kg. sacks of refined quality white flour. One of these was due to problems in milling operations, the other occurred when marketing initiated a â€Å"buy one, get one free† coupon promotion. Since these events, the planning has become overly cautious and errs on the side having excess inventories at the distribution centres. Additionally, two other events have affected Distribution Centre’s throughput: (1) implementation of direct factory supply for replenishing the  five largest super market chains, and (2) a price increase making Mumbai Flour more expensive than its national brand competitors such a Pillsbury or TATA Maida. Of 1500 pallets in the Hyderabad Distribution Centre the Mumbai Flour Mills shows only 396 pallets for open orders. This has led the company to use outside overflow storage, where there are another 480 pallets. Flour is easily damaged; hence, Mumbai Flour Mills prefers to minimise handling. Over stocking at Distribution centres alone cost Rs. 1.85/- per pallet for outside storage to which must be added Rs. 4.25 per pallet extra handling and Rs. 225 per truckload for transportation. Similar scenarios are being played out at the other DCs as well. Mr. Mohan, the distribution manager is contemplating various approaches to solving the inventory problem. It is clear that the product must be in place at the time a consumer is making a decision to buy the product, but the company cannot tolerate the overstocking situation and the stress that it is putting on facilities and cash flow. Mr. Mohan’s first thought is â€Å"a better information system† which will provide timely and accurate information throughout the organisation. On the basis of above case answer the following: (1) Evaluate the alternative solution that could be considered by Mr. Mohan. (2) What additional solution do you propose? (3) Examine the transportation system and its drawbacks. Section 2- answer any 3 questions 3a. Explain the difference between 3 PL and 4PL 3b. What should a logistics focused organization do for customer service? 4a. Explain the concept of containerization and explain its significance in transportation 4b. Explain some important factors that decide the location of a warehouse 5a. Explain the significance of ABC analysis of inventory management 5b. Explain the significance of inventory management 6. Short notes on any 2 1. Activity based costing 2. Internal measures of performance management 3. Modern logistical infrastructures

Capital One- Conduct an External Environmental Analysis Essays

Capital One- Conduct an External Environmental Analysis Essays Capital One- Conduct an External Environmental Analysis Essay Capital One- Conduct an External Environmental Analysis Essay Capita. Philip Friedman Business Administration Capstone BUS 499 3/04/2010 Conduct an External Environmental Analysis, and identify key environmental forces that have Immediate strategic Implications for Capital One. The key environmental forces that could have Immediate strategic Implications for Capitol One in my opinion will stem from the following segments; Coloratura, Political, Economic. To date the economy isnt in good condition, people are being laid off, companies are going belly up, and families across the nation are being kicked out of here homes by the very companies that are responsible for the state of the economy. Despite the very well known troubles the middle class faces bill collectors do not let up, regardless of years worth of on time payments and loyalty. With legislation becoming Involved recently in tactics utilized by credit card companies new laws have been passed reflecting a growing discomfort amongst the public. Early in 2005 The Minnesota state attorney generals office had sued Capital One, claiming it is misleading consumers with promises of fixed interest rates, then hiking their tastes as much as 400 percent (Sullivan, Bob. 2005. Capital One sued over marketing practices. Para This situation alone ties in the above mentioned segments. People are rued of It, especially anyone who has had to deal with the misfortune. You learn quickly who most concerned about the customer. The economy Is bad; the people are feeling powerless, abused, and uneasy. Thats bad business. I think that people are going to be very selective as to who they create financial relations with from here on out. Who ever respond most ethical with true flexibility will win out in the end in arrest share. Its my belief that the mass has begun to do their home work on who is who and what is what, Its about time. I was laid off In 0112010 and have learned what companies actually treat you well In the face of financial disaster versus those who suddenly treat you with contempt once Its realized you cant make a full payment. I do believe this will carry over with many consumers. Conduct an Internal Environmental Analysis, and identify the capabilities and weaknesses within Capital One that have immediate strategic implications. One of Capital Ones internal weaknesses is its annual expenditures on advertising fees in comparison to the companys major competitors. In 2004 Capital One spent $285 million and then another $5. 4 million on advertisements that 30% of a poll taken TLD even care for while 12% liked it a lot, many professionals gave the opinion that much of the profits have been consumed by marketing ((Hit, M. , Ireland, D. Hoskings, R. 2009. Peg. 70). Capital Ones large collection of sub prime customers also shows itself as a weakness. During the recession of 2001 2004 and new laws coming to light concerning the declaration of personal bankruptcy Capital One decided to stop depending on sub prime customers as teen are more Kelly to declare Attendance or adult on payments. The tightening of controls combined with the cut back of dependency on sub par customers caused Capital One to suffer a smaller profit margin, raising interest rates, and a 40% drop in its shares (Hit, M. , et. L. 2009. Peg. 71). Capital Ones internal capabilities consist of its on the mark acquisitions and technology. The rising strategy used relies on its Information Based Strategy (BIBS). According to Wackiness (2010): Capital Ones acquisitions also prove to be on time with their strategy, enabling them to break into new markets, countries with companies that support the ideas they already have rolling out. They have bought companies in the UK such as Hibernia, Auto dealership finances like Onyx in California, and Merrier who is in the orthodontist industry in the states. The CEO of Capital One, Fairbanks, all of the acquisitions are a natural extension of the diversification strategy they have en pursuing for some time, stating the strengths of each company compliment each other (Hit, M. , et. Al. 2009. Peg. 71). Define Capital Ones business-level and corporate-level strategies, and evaluate their potential for continued success. Evaluate the strategic fit of Capital Ones recent acquisitions. Describe the key strategic issues raised by the companys acquisition strategy. The related acquisition of Hibernia leaves Capital One in a position to gain providing they can break and make ground in Texas. The acquisition will provide them with greater arrest power, and it saves them the time of gaining ground in TX being that Hibernia has already taken to that project, they need only cultivate it with the use of BIBS and business strategy. Hibernia brick and mortar branches, 109, will be used as a launching pad for marketing its various offers and BIBS technique (Hit, M. Et. Al. 2009. Peg. 69). The purchase of Onyx and Merrier, Capital One has Jumped the barrier entry fence in to auto financing, enabling them to provide more info into the BIBS so that they can cultivate that business unit also as they will do with Merrier information. The strategy they seem to be employing is buying companies that either gains them access into new markets or is doing well in a market they already have a stake in. The cross boarder Acquisition of Huffs allows them to rapidly enter the market without learning about the local institutional barriers on its own, though I dont imagine many exist between the I-J and America, I believe we are on the same page. Nonetheless the purchase was to strengthen its Global Financial services subsidiary in the British market (Hit, M. , et. Al. 2009. Peg. 65). There arent many issues that are active for Capital one raised by its acquisitions, they seem well calculated, and conservative, meaning they arent out buying things up Just to be beefy, lean and precise seed mot the goal with their acquisitions.

128 Words You Can Use Instead of Very

128 Words You Can Use Instead of Very Developing your professional reputation has a lot to do with the way you communicate with the people around you. The way you communicate can make or break your reputation. Sometimes the smallest things you say can have a drastic impact on how you are perceived. For instance, take the word â€Å"very†. We’ve all used â€Å"very† to describe things. Very big, very small, very good, very powerful, etc. But these are great examples of your language being overly simplistic. Even if you have an advanced degree in English literature, if you use the word â€Å"very† to describe something, then people may perceive you as someone who lacks an advanced understanding of the English language. That being said, we’ve found an infographic detailing 128 words you can use instead of â€Å"very†.   These words should be used in  it’s place  when you are in formal situations  such as the workplace.Source: [ProofReadingServices]

Electronic Methods of Communication Essay Example | Topics and Well Written Essays - 1750 words

Electronic Methods of Communication - Essay Example By thoroughly discussing these four questions, we can come to a more critical and intellectual viewpoint on this subject matter. The aim of this paper is to thoroughly discuss all of this, as well as any key elements which are in relation to this issue. This is what will be dissertated in the following. A virtual office is a location which allows many people doing business to share an office address and business machines, and is a facility which often includes such things as receptionists, mail support, telephone banks, fax machines, copiers, computers, and sometimes even call answering services. With the technology currently available, business can be conducted easily from basically anywhere. The virtual office is considered as being easily one of the most important applications of the Internet, although its recognition is surely lacking. The Internet is easily the most popular communication tool which is completely changing the entire concept of what it means to be an agency. "The key to making an office virtual is enabling everyone in the agency to be able to work together as smoothly as they would if they were all physically in the same place. The Internet is beginning to make this type of integration possible because it allows rapid, low-cost communication between individual u sers and businesses." (Anderson, 2000). The virtual office is certainly a thing of popularity and efficiency; however, not everyone is a candidate for working in a virtual environment. This type of setting requires a special type of person in order to function properly; the person has to be able to work from home, and a special kind of manager is also required to effectively manage virtual employees. Largely as a result of the falling price of telecommunications and the increased sophistication of such things as relevant technology, all businesses, regardless of size, are suddenly able to take advantage of global efficiencies that were once available only to large corporations and multi-nationals. "There are a number of implications of decentralization. The integrity of corporate data can be compromised in the absence of strong data management and storage policies. The inevitable proliferation of duplicated data sent over public networks to individuals or offices in remote locations also presents significant security risks. The management of outsourced services (with well defined service level agreements) requires a different approach to those supplied from in-house, and is likely to be even more challenging when services are undertaken in a different country. Differences in culture, time zone, standards, legislation and language are the obvious ones. Deficiencies in any of these areas can lead to reputation risks as well as increasing the costs of compliance." (Evans, 2006). Is Personal Contact Even Necessary at This Point In regards to technologically speaking, it appears rather obvious that personal contact is in fact unnecessarily in most cases. However, a matter of a related issue is that of is

To what extent, Salford University lecturers & under graduate students Essay

To what extent, Salford University lecturers & under graduate students adopt the idea of social network communication - Essay Example The important key factors of communication are accuracy, time consuming and readable content. â€Å"Most impotent factors when transferring data from one computer to another or telephone call are time – consuming, quality and connection † (Jordon & Churhill 1987). Digital communication is defined according to the free dictionary by Farlex â€Å"electronic transmission of information that has been encoded digitally† (www.thefreedictionary.com). Education organisation uses communications to build a strong relation between lectures and students. Student can gain maximum level of knowledge, improving their skills and get the kind of support they need from their lectures using the gate of communication. In the UK, Salford University the main communicate between students and lectures are Salford University website (Black Board) or university email account. However, as individual effort some lectures at Salford University are recently trying to use social network to com municate with student. â€Å"Social network defined as a â€Å"users can send messages to public or particular group in different form as text, media etc. In this case social network can communicate with one or multi members† (Price at al, 2009). For the last three years studying at Salford University I found many students checking their social network first before they start their main work. Also in my first academic year in business school I learned from emerging technology lectures the use of social network for the benefits of education. This observation gives me an idea of the research topic. Some education staff at different level of education round the word use social network for the benefit of education with a limitation due to the risk and lack of awareness. In the other hand social network in not used in Salford University by all lectures this is my main reason for my research which I will try to cover to what extend Salford University will adopt the idea by student s and lectures. 2. Aims My intention is to find out to what extend Lectures and under graduate students at Salford University are interested in social network communication during their academic year. 3. Objective 3.1. Primary objective a) Discussing the topic with my supervisor. b) Finding previous research reports, article, and books. The research framework c) Develop and run questionnaire d) Get in contact with lecturers using social network within Salford University for more knowledge. e) Data analysis with the help of math scope at Salford University. f) Final report. 3.2. Secondary objective a) Finding and study the method of an education organisation adopting the idea. b) Get in touch with lecturers using social network outside Salford University and discuss the concept. 4. Literature Review How social net work is used? â€Å"Today there is a lot of thematic social networks that are trying to get the attention of new visitors and members every day†. â€Å" Education i s an evolutionary realm; it has been changing and including new practices since its beginnings in order to support changes in society, from the most recent technologies one of the most popular are society networks especially among youngsters† (A. Mora-Soto, 2009). Many people use social network for different purposes. Table 1 below shows how many people use social network spicily above the age of 15 years. In table 2 shows a statistic figure of important cities in UK like Manchester using social netw

Immigration Law Essay Example | Topics and Well Written Essays - 4000 words

Immigration Law - Essay Example Since, the rebuilding of modern UK results in a huge demand of skilled labor from outside countries; Britain largely remained a country of net emigration until the 1990s. The government's latest population projections, published in October 2009, have an annual net immigration of 180,000 (BBC 2009). Successive governments from the early 1970 itself, operated tight controls on immigration in an effort to curb immigration from New Commonwealth countries. In the past decade UK has mostly put effort on enhancing the skill level of the workforce within the country that supports the interdependent aspirations of a competitive and productive economy in global market. Finally, government took step towards initiating the Points Based System in order to create a unified selection system. As a result, points based system has now occupied central part of the UK Government's five year strategy for asylum and immigration (MAC 2009).Point Based System and Its Procedure The UK Points Based system is based on a five tier framework: Tier 1: Highly skilled migrants, entrepreneurs, investors and graduate students. Tier 2: Skilled workers with a job offer; this tier replaced the work permit rules. Tier 3: Low skilled workers – restricted to those needed to fill temporary shortages. Tier 4: Students. Tier 5: Youth mobility and other mainly unpaid temporary workers such as interns (Murray 2011). The five tiers were brought in action in between February 2008 and March 2009. Tiers 1 and 2 can lead to permanent settlement. Migrants in Tiers 1, 2 and 4 can potentially switch between one another. Tiers 3 and 5 are temporary routes and migrants cannot move out of these tiers once they are in the UK. Dependants are allowed to come to the United Kingdom with the main applicant, but they are not allowed to work if they accompany a student under Tier 4 or a temporary worker under Tier 5, who has less than 12 month’s leave to remain in the country. An employer or educational instit ution issues a certificate of sponsorship to the migrant they have chosen; the migrant can then make an application for clearance through the points test and will receive more points if their sponsor is ‘A’ rated and less if it is ‘B’ rated. Tier 1 applicants do not require a job offer so therefore do not need a certificate of sponsorship. Points are awarded differently in each tier. The government introduced several categories for Tier 1: an applicant under the ‘entrepreneurs’ category must hold at least ?200,000 of disposable capital in a regulated financial institution; under the investors category they must hold at least ?1 million of disposable funds; applicants under the ‘graduate students’ category must have a qualification from a UK institution; under the general highly skilled category an applicant is awarded points based on a range of factors including age, qualifications, work experience or education in the UK, and previ ous earnings. There are five routes of entry under Tier 2: Shortage occupation for skilled people coming to the UK for a specific vacancy that cannot be filled by a British. Resident labour market test for jobs that cannot be filled through the other Tier 2 routes. The employer (sponsor) needs to show that there is no suitably qualified worker from the UK. Intra-company transfer for established employees of multinational companies who are being transferred to a skilled job in a UK-based branch of the