Similarities and Differences in the Criminal Subculture free essay sample

The Similarities and Differences in the Criminal Subculture and the police A police officers job is to protect and serve. An officer is to offer assistance to those in need and to enforce the laws established by the law makers. A police officers job is not the monotonous 8-5 job that most have.. It is ever changing, 24-7. It is not a normal environment. Think about it, a police officer runs into a gun fight.. .. Normal folks run away from it!A criminal is the exact opposite of a police officer. They often do not have jobs and those that do are normally using their job to commit their crimes! They are interesting in protecting and serving themselves and those in their group but thats where it stops. A criminal is normally self-absorbed and is obviously not enforcing laws but rather breaking them. However, a criminals job is rarely monotonous and is certainly not normal. We will write a custom essay sample on Similarities and Differences in the Criminal Subculture or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As for the gun fights that cops run to, the criminals are the ones having it in the first place!So you see, while the goals and objectives of a police officer and a criminal are polar opposite, they also have many similarities. They are both a subculture of the population as a whole. A subculture is a subdivision of a culture defined by occupation, ethnicity, class, or residence. A subculture forms a functioning group, unified by shared values, beliefs, and attitudes. The police subculture and the criminal subculture are both based on shared expectations about human behavior (Lyman, 1999). It is interesting to research how these subcultures develop. The police subculture develops from a work environment.Officers see multiple problems and are placed in situations where they must grapple with he serious problems in life. These include the problems of injustice, pain, suffering, and death. This environment begins shaping an officers interpretation of events. What they would normally view as heart wrenching over the years becomes just another day/ (Lyman, 1999). Police officers have an incredible amount Of authority. Police officers are a symbol Of authority that must often be assertive in establishing authority with citizenry. This can lead to conflict, hostility, and perhaps overreaction and police brutality.Officers are expected to remain detached, neutral, and unemotional even hen challenged and in situations of conflict. There is a high sense of morality in the law enforcement subculture. Morality helps police overcome dilemmas. These dilemmas include the dilemma of contradiction between the goal of preventing crime and the polices inability to do so, the dilemma of using discretion to handle situations that do not always strictly follow established procedure and the dilemma officers face when they must invariably act against at least one persons interest, including the possibility of injuring or killing someone.Morality is helpful in encouraging police to serve he public under difficult conditions, but may also lead to negative impact if police use morality to engage in categorizing people (Hickman, Vaquero, and Greene, 2004). Police officers are also constantly faced with danger. Officers become what a normal person might see as paranoid because they are so attentive to signs of potential violence because they work in dangerous situations. The colonization process starts from the beginning and teaches recruits to be cautious and suspicious.Orientation toward watching and questioning can also contribute to tension and conflict in contacts with the public. Police officers are constantly on edge watching for unexpected dangers, on duty and off duty (Layman, 1999). Based on all of the factors and even though the public is generally supportive of the police, the police often perceive the public to be hostile. For this reason, officers tend to socialize primarily with other officers. An officers contact with the public is frequently during moments of conflict, crisis, and emotion.Because police officers are identified by their jobs, members of the public frequently treat them as police, even when off-duty. This increases the need for bonding and socializing between officers, officers families, and families of other officers. Officers are often unable to step back from jobs and separate their professional and personal lives (Hickman et al, 2004). Because this separation is so difficult, officers often manifest a perceived sense of factorization. This is where someone feels like a victim, whether real or imagined, is also the first step on the Continuum of Compromise.As a sense of perceived factorization intensifies, officers become more distrusting and resentful of anyone who controls their job role (Lyman, 1999). Sometimes the perceived sense of customization leads to the second step on the slippery slope which is Acts of Omission. This occurs when officers rationalize and justify not doing things they are responsible for doing. Acts of Omission can include selective non- productivity, such as ignoring traffic violations or certain criminal violations.It can also include Not seeing or avoiding on-sight activity, superficial investigations, omitting paperwork, lack of follow up, doing enough to just get by and other activities which officers can easily omit (Lyman, 1999). Once officers routinely omit job responsibilities, the journey to the next Step is not difficult one to make, Acts of Commission. At this stage, instead of just omitting duties and responsibilities, officers commit administrative violations. Breaking small rules is no big deal. Unsuspecting officers can unwittingly travel to the next and final stage of the continuum, Act of Commission- Criminal. A gun not turned into evidence and kept by the officer can become Its just a dopers. Whats the big deal? The initially honest, dedicated, above reproach officer is now asking, Where did it all go wrong? How did this happen as they face realities of personal and professional devastation and rimming prosecution. Officers who reach the final stage did not wake up one day and take a quantum leap from being honest hard working officers to criminal defendants (Lyman, 1999).According to Lawrence (201 0), The code of silence prevails among many police officers. Policemen often face a difficult decision every day on their beat: loyalty to their community versus loyalty to their fellow officers. Because of this code of silence, some officers may choose loyalty to their fellow officers rather than protecting and serving the community. Lawrence (2010) suggests that this can be attributed to the allowing: First of all, police officers are an identifiable group with uniforms, badges and guns. Secondly, this group shares a common way of life.They share similar dangers, setbacks, and rewards that outsiders rarely see outside of the movies. Thirdly, these dangers foster an us against them mentality not just against criminals but politicians, bureaucrats and concerned citizens who are perceived as impediments to enforcing the law. Police officers have a hard job. They truly are servants who see things most could never even fathom. It is a subculture filled with adrenaline rushes where failure is not an option. It is one where the officer must out smart and out fight the bad guy.To do otherwise could and has often lead to the demise of the officer or to those he is trying to protect. It is no wonder they develop a subculture and while this subculture is not necessarily wrong and may even be healthy, It can also spiral across the line and become a different kind of subculture. There are multiple theories on the criminal/delinquent subculture. One that has similarities with the police subculture is Walter Millers theory. Miller explained crime in terms of a distinctive lower-class subculture.He believed hat Americans in the lower-class social bracket had developed a subculture which had its own values and traditions separate from those in a higher social bracket. These values and way of life were passed on from generation to generation. The values inherent in the lower-class culture actively encouraged lower-class men to commit crime. This subculture had a range of interests and characteristics, sometimes referred to as focal concerns, of its own which included an appreciation of toughness, smartness and excitement (Jacobs, 1994).Miller explained toughness as an expression of masculinity, rejecting immunity and weakness. The toughness manifestation can lead to violence in order to maintain a reputation for toughness. Toughness can be seen in the police subculture as well (Jacobs, 1994). Another focal concern that Miller explained was smartness. Smartness is the quality that emphasizes the ability to outsmart or con another person (Jacobs, 1994). As previously discussed, officers must outsmart the criminal, even if they must use trickery, which is allowed by the courts.Police officers are not normally lab. Years but they must have the smartness of not only a lawyer, but also a social worker, actor, judge, psychologist, etc. Another focal concern that Miller explained was excitement. In this focal concern, the person is searching for emotional stimulus and excitement. Excitement is found in gambling, sexual adventures and alcohol. All these activities can be obtained during a night out on the town (Jacobs, 1994). The desire to be tough and smart and to seek excitement, carries risk. The result can be physical harm and disruption to ones life.Miller explained that with specific regard to adolescents in lower- class subculture, such activities and focal concerns are particularly exaggerated because the generally belong to a peer group which demands conformity to group norms. In addition, adolescents are especially concerned about status which is achieved via peer group norms. In other words, status here will derive from being tough and smart in the eyes of peers (Jacobs, 1994). Miller believed that delinquency was essentially about the acting out of the focal concerns Of lower-class subculture (toughness, smartness etc. Its roots lay in the colonization into a subculture with a distinctive tradition, many centuries old with an integrity of its own. Such a subculture has a life of TTS own. The reason for its existence is due to a need for a pool of low-skilled laborers. These kinds of workers had to be able to tolerate routine, repetitive work as well as periods of unemployment. Lower-class subculture, with its emphasis on excitement and risk-taking activities, allowed these workers to endure the monotony of their work. The activities of the delinquent subculture relieved them from the boredom of their working lives (Jacobs, 1994).While Miller focused on a social approach to explaining delinquent subcultures, Gresham Sykes and David Matzo wanted to build upon Arthur Sutherland Differential Association theory which stated that an individual learns criminal behavior through (a) techniques of committing crimes and (b) motives, drives, rationalizations, and attitudes which go against law-abiding actions Jacob, 1994). Naturalization is a technique which allows the person to rationalize or justify a criminal act. Sykes and Matzo defined five techniques of naturalization.They are denial of responsibility, denial of injury, denial of victim, condemnation of the condemners, and the appeal to higher loyalties (Jacobs, 1994). Denial of responsibility is a technique used hen the deviant act was caused by an outside force. This technique goes beyond looking at the criminal act as an accident. The individual feels that they are drawn into the situation, ultimately becoming helpless. These juveniles feel that their abusive families, bad neighborhoods and delinquent peers predispose them to criminal acts (Jacobs, 1994). Denial of injury occurs when the criminal act causes no harm to the victim. Criminal acts are deemed deviant in terms of whether or not someone got hurt. Using this technique, the delinquent views stealing as merely borrowing. The use of this quench is reaffirmed in the minds of these juveniles when society does not look at certain acts, such as skipping school or performing practical jokes, as criminal, but merely accepts them as harmless acts (lacily, 1994). Denial of victim is used when the crime is viewed as a punishment or revenge towards a deserving person.This technique may be used by those who attack homosexuals or minority groups. They deserve it. Jacob, 1994) The technique called the condemnation of the condemners places a negative image on those who are opposed to the criminal behavior. The juvenile ends p displacing his deviant behavior on those they are victimizing and also viewing the condemners as hypocrites, such as corrupt police and judges (Jacobs, 1994). The appeal to higher loyalties technique is used when the person feels they must break the laws of the overall community to benefit their small group or family.This technique comes into play when a juvenile gets into trouble because vitrifying to help or protecting a friend or family member (Jacobs, 1994). So how does the police subculture and the criminal subculture because one in the same? Are there focal concerns truly similar as Miller suggested? Or are there similarities emerge due to the five techniques of naturalization? While both arguments are compelling, a recent article in the Arkansas Democrat Gazette summarized this potential similarity in the two grou ps very well so I will end with this article.YOURE SPECIAL. Youre special because you have a badge. You can ticket mayors. You can stop a governor on the highway. Havent you seen the movies? Cops are special. Youre special because you can give an athlete a break. A hell of a break. Youre special because you can even chew him out while youre doing it. Youve got a career ahead of you What I should do is bend you over here and whap your butt. Youre special because you can tell a prominent athlete you should whap his butt.Youre special because you can tell a kid youre taking his gun and letting his coach decide what to do with it. Not a judge and jury. Youre special enough that you dont need a judge and jury. You are judge and jury. Its confirmed. Youre special. Then the whole matter becomes public. Then youre no longer so special. Youre not even on the force any longer. What happened? When did you stop being special? Answer: not soon enough. Because if you hadnt been allowed to think you were special, you would have stuck to the rules and regulations and still have that badge.Those of us who let you develop that illusion did you no favors. There are a couple of lessons here-?at least. Certainly for Arkansas State University athletes, or any athletes at any college. Certainly for the Arkansas State Police, or any lawmen at any agency. Heres hoping other athletes and other law officers have learned by these sad examples in last weeks news. And that the rest Of us have learned something, too-?about humility and equal treatment under the law and not to assume were so special, either.

Sample Responses to a College Deferral Letter

Sample Responses to a College Deferral Letter If you applied to college through an Early Action or Early Decision option, you may find that youve been neither accepted nor rejected, but deferred. Many applicants despair when their application for early admission ends up in this frustrating limbo for it feels much like a rejection. It is not, and you can take steps to improve your chances of getting admitted with the regular admission pool. One easy step is to write the college a response to your deferral letter. Key Takeaways: Responding to a College Deferral If you have new information that could strengthen your application, share it with the admissions folks. This can include improved test scores, a new award, or a new leadership position.Be positive: reaffirm your interest in the school, and dont let your anger and frustration at being deferred darken your letter. Be careful not to suggest the admissions folks made a mistake.As with all written parts of your applications, pay careful attention to grammar, punctuation, and style. Colleges want to admit students who write well. Always remember that if the college did not think you had the qualifications necessary to be admitted, you would have been rejected, not deferred. Essentially, the school is telling you that you have what it takes to get in, but they want to compare you to the full applicant pool. You simply didnt stand out quite enough to be admitted with the early applicant pool. By writing to a college after being deferred, you have the opportunity to both reaffirm your interest in the school and present any new information that might strengthen your application. So, dont panic if you received a letter of deferral after applying to college through  early decision  or  early action. Youre still in the game.  First, read through these  7 tips on what to do if deferred. Then, if you think you have meaningful new information to share with the college that has deferred your admission, write them a letter. Sometimes you can write a simple  letter of continued interest  even if you dont have new information to share, although some schools explicitly state that such letters are not necessary, and in some cases, not welcome (admissions offices are extremely busy in the winter). Sample Letter from a Deferred Student Below is a sample letter that would be appropriate if deferred. Caitlin has a significant new honor to report to her first choice college, so she certainly should make the school aware of the update to her application. Note that her letter is polite and concise. She doesnt express her frustration or anger; she doesnt try to convince the school that theyve made a mistake; instead, she reaffirms her interest in the school, presents the new information, and thanks the admissions officer. Dear Mr. Carlos, I am writing to inform you of an addition to my  University of Georgia  application. Although my admission for Early Action has been deferred, I am still very interested in UGA and would very much like to be admitted, and therefore I wish to keep you up to date on my activities and achievements. Earlier this month I participated in the Siemens Competition in Math, Science and Technology in New York City. My high school team was awarded a $10,000 scholarship for our research on graph theory. The judges consisted of a panel of scientists and mathematicians led by former astronaut Dr. Thomas Jones; the awards were presented at a ceremony on Dec. 7. Over two thousand students entered this competition, and I was extremely honored to be recognized alongside the other winners. More information on this competition can be found through the Siemens Foundation web site: siemens-foundation.org/en/. Thank you for your continued consideration of my application. Sincerely, Caitlin Anystudent Discussion of Caitlin's Letter Caitlins letter is simple and to the point. Given how busy the admissions office will be between December and March, short is important. It would reflect poor judgment if she were to write a lengthy letter to present a single piece of information. That said, Caitlin could strengthen her letter slightly with a few tweaks to her opening paragraph. Currently she states that she is still very interested in UGA and would very much like to be admitted. Since she applied Early Action, we can assume that UGA was among Caitlins top choice schools. If so, she should state this. Also, it doesnt hurt to briefly state why UGA is a top choice school. As an example, her opening paragraph could state something like this: Although my admission for Early Action has been deferred, UGA remains my top-choice university. I love the energy and spirit of the campus, and I was truly impressed by my visit to a sociology class last spring. I am writing to keep you up to date on my activities and achievements. A Second Sample Letter Dear Mr. Birney, Last week I learned that my application for early decision at Johns Hopkins was deferred. As you can imagine, this news was disappointing to me- Johns Hopkins remains the university Im most excited about attending. I visited a lot of schools during my college search, and  Johns Hopkinss program in International Studies appeared to be a perfect match for my interests and aspirations, and I loved the energy of the Homewood Campus. I want to thank you and your colleagues for the time you put into considering my application. After I applied for early decision, I received a couple more pieces of information that I hope will strengthen my application. First, I retook the SAT in November and my combined score went from 1330 to 1470. The College Board will be sending you an official score report soon. Also, I was recently elected to be the Captain of our school Ski Team, a group of 28 students who compete in regional competitions. As Captain, I will have a central role in the teams scheduling, publicity and fund raising. I have asked the teams coach to send you a supplemental letter of recommendation that will address my role within the Ski Team. Many thanks for your consideration, Laura Anystudent Discussion of Laura's Letter Laura has good reason to write to Johns Hopkins University. The 110 point improvement on her SAT scores is significant. If you look at this  graph of GPA-SAT-ACT data for admission to Hopkins, youll see that Lauras original 1330 was on the lower end of the accepted student range. Her new score of 1470 is nicely in the middle of the range. Lauras election as Captain of Ski Team may not be a game-changer on the admissions front, but it does show more evidence of her leadership skills. Especially if her application was originally light on leadership experiences, this new position will be significant. Finally, Lauras decision to have a supplemental  letter of recommendation  sent to Hopkins is a good choice, particularly if her coach can speak to abilities that Lauras other recommenders did not. Don't Make the Mistakes in This Letter The letter below illustrates what you should not do. Brian asks to have his application reconsidered, but he does not present any significant new information for reconsidering the decision. The increase in his GPA from a 3.3 to a 3.35 is fairly trivial. His newspaper has been nominated for an award, but it has not won the award. Moreover, Brian writes as if he has been rejected, not deferred. The university will look at his application again with the regular pool of applicants. The biggest problem  with the letter below, however, is that Brian comes across as a whiner, an egotist, and an ungenerous person. He clearly thinks very highly of himself, placing himself above his friend and making much ado about a modest 3.3 GPA. Does Brian really sound like the type of person the admissions officers will want to invite to join their campus community? To make matters worse, the third paragraph in Brians letter essentially accuses the admissions officers of making a mistake in admitting his friend and deferring him. The goal of Brians letter is to strengthen his chances of getting into college, but questioning the competence of the admissions folks works counter to that goal. To Whom It May Concern: I am writing in regards to my deferral for admission to Syracuse University for the fall semester. I received a letter earlier this week informing me that my admission had been deferred. I would like to urge you to reconsider me for admission. As you know from my previously submitted admissions materials, I am a very strong student with an outstanding academic record. Since I submitted my high school transcript in November, I have received another set of mid-year grades, and my GPA has gone up from a 3.3 to 3.35. In addition, the school newspaper, of which I am assistant editor, has been nominated for a regional award. Frankly, I am somewhat concerned about the status of my admission. I have a friend at a nearby high school who has been admitted to Syracuse through early admissions, yet I know that he has a somewhat lower GPA than mine and has not been involved in as many  extracurricular activities. Although he is a good student, and I certainly do not hold anything against him, I am confused about why he would be admitted while I have not been. Frankly, I think that I am a far stronger applicant. I would very much appreciate it if you could take another look at my application, and reconsider my admissions status. I believe I am an excellent student  and would have much to contribute to your university. Sincerely, Brian Anystudent A Final Word on Responding to a Deferral As with any communication with a college, youll want to pay careful attention tone, grammar, punctuation, and style. A sloppily-written letter is going to work against you, not strengthen your application. Finally, keep in mind that writing a letter when deferred is optional, and at many schools it wont improve your chances of being admitted. You should definitely write if you have compelling new information to present (dont write if your SAT score went up just 10 points- you dont want to look like youre grasping). And if the college doesnt say not to write a letter of continued interest, it can be worthwhile to do so.

Introduction of Econometric Assignment Example | Topics and Well Written Essays - 750 words

Introduction of Econometric - Assignment Example The study aimed at determining the determinants of hourly pay (dependent variable). The estimated constant and coefficients had a p- value approximately equal to zero and therefore were statistically significant at 5% significant level. Secondly the model was found to be correctly specified with a probability F approximately equal to 0. However, R-squared equalled to 0.2571, implying that the model was not that good, as the explanatory variables , education and experience only accounted for 25.7% of all changes accruing to hour pay, worse though, they accounted for 25.56% when adjusted for degrees of freedom( adjusted R squared =0.2556). Given poor goodness of fit, it was hypothesized there was gender discrimination in hourly pay distribution, hence making gender an explanatory variable. As matter of fact, male hourly wages averaged higher than females’ (table 2). The implication is that men generally earnings are higher than women. The overall model remained significant (prob. F approximately equal to zero). Goodness of fit improved to 0.3042 and 0.3021 when adjusted for degrees of freedom. Although the constant tested not statistically different from zero (p-value 0.073) at 95% confidence level, the coefficients remained statistically significant and hence it was induced that holding education and experience constant, males earn 2.389 euros more than females per hour. The overall fitness of the model improved (R2 = 0.3160 and adjusted R2 = 0.3132), hence making it better than the previous. F-test maintained that the overall model was correctly specified and all coefficients as well as the constant were statistically different from zero with at 1% significance level. According to the estimated model, the reward for an extra year of experience was 0.5632 euros higher in male than in females, holding other variables constant. Secondly, ceteris paribus, females were rewarded 0.3903 euros less

Innovation, Technology Essay Example | Topics and Well Written Essays - 4000 words

Innovation, Technology - Essay Example The objective of this paper is to determine whether technology significantly impacts the core strategies and organization of companies to the extent that it should be considered as the primary means of initiating innovation or development. For the purpose of this study, The validity of the statement will consider in both public as well private enterprises from small to large scale. In the course of the discussion, the research will also determine effective applications of technology, how it is changing markets and industries and the developing challenges for companies with its utilization. The application of technology necessitates a study of the relationship of productivity and technology. The debate on whether productivity paradoxes really do exist has become an issue for analysts and managers once more with the shift towards digitization. Consider the implications of the productivity paradox or the Solow computer paradox that Robert Solow theorized in response to the mechanization of clerical work. According to Solow that, "You can see the computer age everywhere but in the productivity statistics," (Greenan et al, 2002, p. 42). The productivity paradox implies that as technology is introduced to a system, in particular information technology, work productivity decreases (McGovern, 2001). If the paradox is to be accepted as true, then technology contravenes productive strategies. However, Dusharme (2001) points out that these impacts are part of the process of adaptation, similar to competency development learning curves. Furthermore, Suter (2007) points out that many companies have considered alternatives to techno-based strategies because of the cost of implementation as well as discrepancies in information literacy in international markets. In Tubbs and Schulz (2006) study, he concluded that lags in productivity in technology-related initiatives can be attributed to the lack of channels where the technology can be learned or used. Explanations for the decline in productivity pointed out the need for technology to be prevalent before it impacts productivity significantly. Thus, later adaptation to technology creates less vulnerability to productivity paradoxes: the implication is that later access to emerging technologies, with the assumption that there has bee growth in software and applications available, is a more viable choice to ensure productivity. Technology and Business Operations According to there should be a realization that the technology is a tool and the degree of its impact is dependent on other strategies (Womack et al, 1991). The bulk of technology adaptations and strategies have focused on information and communications technologies. Among the benefits that have been seen is the increase in communication and networking capacity technology provides (Insinga & Werle, 2000). For example, the utilization of VOIP (voice over internet protocol) operations has become critical in the management or trafficking PSTN calls locally and internationally as well as mobile communications; IP Multimedia Subsystems (IMS) are providing platforms for the incorporation of internet technologies with business operations; as well facilitated the actual interface of VOIP infrastructure with PSTN; and the rise of network societies, referring to online communities and feedback systems,

Discussion Question Essay Example | Topics and Well Written Essays - 250 words - 11

Discussion Question - Essay Example Personally, the author thinks that utilitarianism should be observed which means for the benefit of the majority. The concept supporting it is called teleological theory. It is the ethical theory that focuses on the end result which is in favor of the majority (Timby 44). In addition, fidelity and justice must be observed in rescuing those people in the hospital. Both principles are important as the former provides a work-related commitment of nurses while the latter provides an indiscriminate way of helping others (Ibid 46). 3. It may be risky but saving lives should be the priority. Self-interest may be put aside, but it does not mean that the lives of the five people in that situation must be ended. They may look for alternatives in helping them like calling the nearest fire brigade and disaster response team. In addition, the doctor and Peter must follow the example of Margaret in saving the lives of other patients. Doctors must also ensure the interest of the patients before their own as it is part of their oath and core values. On the other hand, Peter also has a responsibility in saving the patients since it is part of his duty to prepare any rescue and evacuation procedures in case of emergencies. 4. The possible consequences may be the deaths of those who went down to rescue the remaining patients in the damaged hospital. Recent hurricane has destroyed the hospital together with the crashing helicopter. On the other hand, it is also possible that more lives will be saved without any casualties if there would be other rescuers. 5. The alternatives can be prioritized by following the values that must be rendered by the profession in saving lives and prioritizing the welfare of the patients. It is quite normal for people to become scared and risk their lives since they may die in the process. It may be overcome by allowing the utilitarian perspective to be the guide in decision-making. 6. The doctor and Peter must follow the

Effects of Foreign Direct Investment

Effects of Foreign Direct Investment The removal of cross-border restrictions on international capital flows and the trend toward an integrated world economy has been a substantial progress over recent two decades. Hence, it has increased the growth of foreign direct investment(FDI) activity. Madura and Fox (2007) define foreign direct investment (FDI) as the investment in real assets (such as land, buildings, or even existing plants) in foreign countries. They also find that multinational corporations(MNCs) commonly capitalize on foreign business opportunities by engaging in FDI. They engage in joint ventures with foreign firms, acquire foreign firms, and form new foreign subsidiaries. These types of FDI can generate high returns when managed properly. A substantial investment is required, and thus can increase the risk at capital. It may be difficult for multinational corporation to sell the foreign project when the investment does not perform well as expected. In order to maximize the corporations value, it is significant for MNCs to understand the potential return and risk of FDI and analyze the potential benefits and costs before making investment decisions. 2.1.2 Motives for FDI The reason why firms locate production oversea rather than exporting from the home country or licensing production in the hose country, and the reason why firms seek to extend corporate control oversea by forming multinational corporations have been developed by many scholars. Kindleberger(1969) and Hymer(1976), emphasize various market imperfections in product, factor, and capital markets as the key motivating forces to accelerate FDI. Eun and Resnick (2004) explore some key factors that are important for corporations making decisions to invest oversea. These factors include trade barriers, imperfect labor market, intangible assets, vertical integration, product life cycle and shareholder diversification services. Dunning (1993) interpret four different types of motives for foreign direct investment: resource seeking, market seeking, efficiency seeking, and strategic asset (or capability )seeking. The first motive means that MNCs acquire some particular resources which may mainly cnsist of primary products at a lower cost in the host country than at home. The second motive depends on the expectation of new sales opportunities from the opening of markets where MNCs had no access at before. The third one refers to utilizing the specific comparative advantages of a host economy. The last one is related with long-term strategic considerations such as gaining an significant stake in the market in the long run. To be more specific, Madura and Fox (2007) indicate that MNCs engage in foreign direct investment widely because it can improve profitability and enhance shareholder wealth. In most cases, MNCs utilize FDI to boost revenues, reduce costs, or both. Revenue-related motives include attract new source of demand, enter profitable markets, exploit monopolistic advantages, react to trade restrictions and diversify internationally. Cost-related motives involve fully benefit from economies of scale, use foreign factors, use foreign raw materials, use foreign technology and react to exchange rate movements. 2.1.3 Benefits of FDI It seems unwise to conclude that both forms of geographic diversification are likely to be equally profitable or unprofitable. Errunza and Senbet (1981, 1984) find evidence to support a positive relation between excess firm value and the firms extent of international diversity by using multinational firms only. Focusing on international acquisitions, Doukas and Travlos (1988) and Doukas (1995) document that US bidders gain from industrial and international diversification. Similarly, Morck and Yeung (1991, 2001) find a positive relation between international diversification and firm value. However, they show that industrial diversification and international diversification add or destroy value in the presence or absence of intangible assets. Their findings support the view that the synergistic benefits of international diversification stem from the information-based assets of the firm. Christophe and Pfeiffer (1998) and Click and Harrison (2000) find that multinational firms trade at a discount relative to domestic firms. More recently Denis, Denis and Yost (2002), using the Berger and Ofek (1995) excess value measure and aggregate data, show that global diversification reduces shareholder value by 18%, whereas industrial diversification results in 20% shareholder loss. In contrast, Bodnar, Tang and Weintrop (1999), relying on a similar valuation measure, find share-holder value to increase with global diversification. Doukas and Lang (2003) take firms which made foreign new plant announcements during the period 1980 1992 as a sample, regardless of the industrial structure of the firm, they interpret that unrelated foreign direct investments are associated with negative announcement effects and long-term performance decreases in subsequent years, whereas related investments are associated with positive short-term and long-term performance. Although their findings indicate that both specialized and diversified firms benefit from core-business-related rather than non-core-business-related foreign direct investments, the gains are larger for diversified firms. They conclude that geographic expansion of the firms core business itself is beneficial to shareholder value. In contrast, they find that geographic expansion of the firms peripheral (non-core) business harms firm value and performance. Hence the evidence indicates that the internalization theory is more consistent with the international expans ion of the core rather than the non-core business of the firm. That is, the positive synergies from global diversification are rooted in the firms core competencies. Theories of foreign direct investment (FDI) agree on at least one major point: foreign firms mush have inherent advantages that allow them to overcome the higher costs of becoming a multinational (Hymer, 1976) These advantages may be tangible, such as an improved production process or a product innovation. They also may be intangible, such as brand names, better management structures or the technical knowledge of employees. Girma, Greenaway and Wakelin (2001) conclude that foreign firms do have higher productivity than domestic firms and they pay higher wages in the UK after their investigation. They do not find aggregate evidence of intra-industry spillovers. However, firms with low productivity relate to the sector average, in low-skill low foreign competition sectors gain less from foreign firms. FDI brings two main benefits to the host country. First, it introduces new production facilities into the domestic economy directly, or may rescue failing firms in the case of acquisition, raising overall output, employment and exports. Second, domestic governments hope that foreign firms will be unable to internalise their advantages fully, and local firms can benefit through spillover. 2.1.4 Effects of FDI Borensztein, Gregorio and Lee (1998) test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework by utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. The results suggest that FDI is significant for transfer technology, and contribute more to growth than domestic investment. Moreover, they find that the contribution of FDI to economic growth is improved by its interaction with the level of human capital in the host country. However, the empirical results imply that FDI is more productive than domestic investment only when the host country has a minimum threshold stock of human capital. Thus, FDI contributes to economic growth only when a sufficient absorptive capability of the advanced technologies is available in the host economy. Investigating the effect of FDI on domestic investment, they find that the inflow of foreign capital à ¢Ã¢â€š ¬Ã‹Å"crowds in domestic investment rather than à ¢Ã¢â€š ¬Ã‹Å"crowds out. FDI support the expansion of domestic firms by complementarity in production or by increasing productivity through the spillover of advanced technology. A one-dollar increase in the net inflow of FDI is associated with an increase in total investment in the host economy of more than one dollar, but do not appear to be very robust. Thus, it appears that the main channel through which FDI contributes to economic growth is by stimulating technological progress, rather than by increasing total capital accumulation in the host economy. Markusen and Venables (1999) develops an analytical framework to assess the effects how an FDI project affect local firms in the same industry. There are two forces for the effect of entry of a multinational firm on the domestic industry. One is a competition effect, under which multinationals displace domestic final-goods producers, and the other is a linkage effect back to intermediate-goods producers, creating complementarities which could benefit domestic final-goods producers. They explore the determinants of the relative strengths of these effects. In circumstances of initial equilibrium with no local production, multinational entry can push the economy over to an equilibrium with local production in both the intermediate and final-goods industries, with a resulting welfare improvement. They then pay attention to endogenise the entry decision of multinational firms. It may now also be the case that multinationals provide the initial impetus for industrialisation, but the developed local industry creates sufficiently intense competition to eventually drive the multinationals out of the market. Hobday (1995) finds initial multinational investments in developing East Asia created backward linkage effects to local suppliers in a large number of situations. There are some examples such as computer keyboards, personal computers, sewing machines, athletic shoes, and bicycles in Taiwan. 2.2 Cost of capital and capital structure Many major firms through the world have begun to internationalize their capital structure by raising funds from foreign as well as domestic sources. As a result, these corporations become multinational not only in the scope of their business activities but also in their capital structure. This trend reflects not only a conscious effort on the part of firms to lower the cost of capital by international sourcing of funds but also the ongoing liberalization and deregulation of international financial markets. If international financial markets were completely integrated, it would not matter whether firms raised capital from domestic or foreign sources because the cost of capital would be equalized across countries. On the other hand, some markets are less than fully integrated, firms may be able to create value for their shareholders by issuing securities in foreign as well as domestic markets. Cross-listing of a firms shares on foreign stock exchanges is one way a firm operating in a segmented capital market can lessen the negative effects of segmentation and also internationalize the firms capital structure. For example, IBM, Sony, and British Petroleum are simultaneously listed and traded on the New York, London, and Tokyo stock exchanges. By internationalizing its corporate ownership structure, a firm can generally increase its shares price and lower its cost of capital. 2.2.1 Definition of cost of capital Eun and Resnick define the cost of capital as the minimum rate of return an investment project must generate in order to pay its financing costs. If the return on an investment project is equal to the cost of capital, under taking the project will leave the firms value unaffected. When a firm identifies and undertakes an investment project that generate a return exceeding its cost of capital, the firms value will increase. It is significant for a value-maximizing firm to try to lower its cost of capital. Madura and Fox (2007) explain that a firms weighted average cost of capital (referred to as Kc ) can be measured as: Kc = [D/(D+E )] * Kd * ( 1-t ) + [E / (D+E)] * Ke Where: D = market value of firms debt Kd = the before-tax cost of its debt t = the corporate tax rate E = the firms equity at market value Ke = the cost of financing with equity The ratios reflect the percentage of capital represented by debt and equity, respectively. In total the cost f capital, Kc is the average cost of all providers of finance to the firms. A multinational company finances its operations by using a mixture of fixed interest borrowing and equity financing that can minimize the overall cost of capital (the weighted average of its interest rate and dividend payment). By minimizing the cost of capital used to finance a given size and risk of operations ,financial managers can maximize the value of the company and therefore maximize shareholder wealth. According to the different size of firm, international diversification, exposure to exchange rate risk, access to international capital markets and exposure to country risk, the cost of capital for MNCs may different from that for domestic firms. 2.2.2 Costs of capital across countries Madura and Fox (2007) interpret that the reason why cost of capital is different among countries is relevant for three reasons. First, MNCs based in some countries may have more competitive advantages than others not only for the different technology and resources across countries, but also the cost of capital. MNCs in some countries will have a larger set of feasible projects with positive net present value because of the lower cost of capital, hence these MNCs can increase their world market share more easily. MNCs operating in countries with a higher cost of capital will be forced to decline projects. Second, MNCs may be able to adjust their international operations and sources of funds to capitalize on differences in the cost of capital among countries. Third, the different component as debt and equity in the cost capital can explain why MNCs based in some countries tend to use a more debt-intensive capital structure than others. To estimate an overall cost of capital for an MNCs, it needs to combine the costs of debt and equity, and weight the relative proportions of debt and equity. The cost of debt to a firm is primarily determined by the risk-free interest rate in the currency borrowed and the risk premium required by creditors. Risk-free interest rate is determined by the interaction of the supply and demand for funds. Factors include tax laws, demographics, monetary policies and economic conditions can influence the supply and demand then affect the risk-free rate. The risk premium on debt can vary among countries because of the different economic conditions, relations between corporations and creditors, government intervention, and degree of financial leverage. In addition, a firms cost of equity represents an opportunity cost what shareholders could earn on investments with similar risk if the equity funds were distributed to them. This return on equity can be measured as a risk-free interest rate th at could have been earned by shareholders, plus a premium to reflect the risk of the firm. According to the different economic environments, the risk premium and the cost of equity will vary among countries. 2.2.3 MNCs capital structure decision Madura and Fox.(2007) indicate that an MNCs capital structure decision includes the choice of debt versus equity financing within all of its subsidiaries, hence the overall capital structure is combined of all subsidiaries capital structures. The advantages of using debtor equity vary according to the corporate characteristics specific to each MNC and specific to countries where the MNCs establish subsidiaries. They interpret some specific corporate characteristics which can influence MNCs capital structure. MNCs with more stable cash flows can deal with more debt because their cash flows are constant to cover periodic interest payments. In contrast, MNCs with erratic cash flows might prefer less debt. MNCs with lower credit risk have more access to credit, their choice of using debt or equity can be affected by factors which influence credit risk. MNCs with high profit may be able to finance most of investment with retaining earnings and use an equity-intensive capital structure, while others with small level of retained earnings may prefer on debt financing. The subsidiaries borrowing capacity may be increase and need less equity financing once the parent backs the debt. Agency costs are higher when a subsidiary in foreign country can not be monitored easily be investor from parents country. In addition, they also describe the specific country characteristics unique to each host country can influence MNCs choice of debt versus equity financing and thus influence their capital structure. Firstly, some host countries have stock restrictions which means the governments allow investment only in local stocks. This kind of barrier of cross-border investing, potential adverse exchange rate and tax effects can discourage investment outside home countries. MNCs operated in these countries where investor have fewer stock investment opportunities may be able to raise equity at a relatively low cost, and they would prefer using more equity by issuing stocks. Secondly, according to the government-imposed barriers on capital flows along with potential adverse exchange rate, tax and country risk effects, loanable funds do not always flows th where they are needed most and the price of them can vary across different countries. MNCs may be able to obtain loanable funds at lower cost in s ome countries and they will prefer the debt financing. Thirdly, regard of the potential weakness of the currencies in subsidiaries host countries, an MNC may attempt to finance by borrowing currencies instead of relying on parent funds. Subsidiaries may remit a smaller amount in earning because they can make interest payments on local debt, and thus reduce the exposure to exchange rate. Conversely, subsidiaries may retain and reinvest more of its earnings when the parent believes a subsidiaries local currency will appreciate against its own currency. The parent may provide an cash infusion to finance growth in the subsidiaries, and thus transfer the internal funds from the parent to subsidiary possibly resulting in more external financing by the parent and less debt financing by the subsidiary. Fourthly, possibility of a kind of country risk is that the host country will temporarily block funds to be remitted by subsidiary to the parent. Thus aubsidiraies may prefer to local debt fi nancing. At last, MNCs make interest rate payments on the local debt when they are subject to a withholding tax. Foreign subsidiaries may also use local debt if the host country impose high corporate tax rates on foreign earnings. Bancel and Mittoo (2004) survey on the cross-country comparisons of managerial views on determinants of capital structure in a sample of 16 European countries: Austria, Belgium, Greece, Denmark, Finland, Ireland, Italy, France, Germany, Netherlands, Norway, Portugal, Spain, Switzerland, Sweden, and the UK. They show that factors related to debt are influenced more, and those related to equity are influenced less, by the countrys institutional structure, especially the quality of its legal system. They find that financial flexibility and earnings per share dilution are primary concerns of managers in issuing debt and common stock, respectively. Managers also value hedging considerations and use windows of opportunity when raising capital. This evidence strengthens arguments of La Porta et al. (1997, 1998) that the availability of external financing in a country is influenced primarily by its legal environment. Since agency costs of debt are likely to be higher in countries with lower quality of legal systems, this evidence is also consistent with theories of capital structure such as agency theory that assign a central role to debt contracts and bankruptcy law (Harris and Raviv, 1991). They find that although a countrys legal environment is an important determinant of debt policy, but it plays a minimal role in common stock policy. They find that firms financing policies are influenced by both their institutional environment and their international operations. They also show that firms can adopt strategies to mitigate the negative effects of the quality of the legal environment in their home country. For instance, firms in civil-law countries have significantly higher concerns for maintaining target debt-to-equity ratios and matching maturity than do their peers in the common-law countries. Further, they find that firms operating internationally have significantly different views than do their peers in several ways. For example, firms that have issued foreign debt or equity in the sample during the last ten years are more concerned about credit ratings. Firm-specific variables that are commonly used in the capital structure literature to explain leverage also expla in cross-country differences in managerial rankings of several factors. For example, large firms are less concerned about bankruptcy costs, and high growth firms consider common stock as the cheapest source of funds and use windows of opportunity to issue common stock. These results support the arguement by Rajan and Zingales (1995, 2003), that firms capital structures are the result of a complex interaction of several institutional features as well as firm characteristics in the home country. Their results support that most firms determine their optimal capital structure by trading off factors such as tax advantage of debt, bankruptcy costs, agency costs, and accessibility to external financing. They confirm the conclusions of Titman (2002): Corporate treasurers do occasionally think about the kind of trade-offs between tax savings and financial distress costs that we teach in our corporate finance classes. However, since this trade-off does not change much over time, the balancing of the costs and benefits of debt financing that they emphasize much is not MNCs major concern. They spend much more time thinking about changes in market conditions and the implications of these changes on how firms should be financed. Lee and Kwok (1988) examine the impact of international environmental factors on some firm-related capital structure determinants which in turn affect the MNCs overall capital structure. They consider international environmental variables of political risk, international market imperfections, complexity of operations, opportunities for international diversification, foreign exchange risk and local factors of host countries, and test agency costs and bankruptcy costs. They find that MNCs tend to have higher agency costs of debt according to Myers definition than DCs. This finding remained unchanged even when size and industry effects were controlled. Though MNCs appeared to have lower bankruptcy costs than DCs, the difference largely disappeared when the size effect was controlled. Quite contrary to the conventional wisdom, the empirical findings showed that MNCs tended to be less leveraged than DCs. This finding remained even when the size effect was controlled. However, when compani es were separated under different industry groups, the results varied significantly. Burgman (1996) directly estimate the effect of foreign exchange risk and political risk on the capital structure of MNCs. Using the foreign tax ratio to classify firms as either MNCs or DCs and controlling for industry and size effects, Burgman finds that MNCs have lower debt ratios and higher agency costs than DCs. Furthermore, international diversification does not appear to lower earnings volatility. To estimate the sensitivity of a firm to foreign exchange risk, Burgman conducts a regression analysis of the stock returns of each sample firm on the returns of an index of U.S. stocks and on the U.S.$:SDR returns. His political risk measure is based on the following ratio: number of low political risk countries to the total number of countries in which the firm operates. Low political risk countries are the top 20 in the country risk rankings provided by Euromoney in 1989. The results of a regression analysis for his sample of MNCs suggest that the debt ratios of these companies are positively related to both risks. Burgman concludes that this evidence is consistent with the hypothesis that MNCs use debt policy as a tool to hedge foreign exchange risk and political risk. Chen et al. (1997) conducted regression analyses to investigate the effect of international activities (as measured by foreign pre-tax income) on capital structure. They report that even after controlling for firm size, agency costs of debt, bankruptcy costs and profitability, the long-term debt ratios of MNCs are lower than those of DCs. However, within their sample of MNCs, debt ratios increase with the level of international activities. 2.2.4 Segmented capital market A capital market for asset claims is integrated when the opportunity set of investments available to each and every investor is the universe of all possible asset claims. In contrast, a capital market is segmented when certain groups of investors limit their investments to a subset of the universe of all possible asset claims. Such market segmentation can occur because of ignorance about the universe of possible asset claims, or because of transactions costs (brokerage costs, taxes, or information acquisition costs), or because of legal impediments. From an international perspective, market segmentation typically occurs along national borders, a condition wherein investors in each country acquire only domestic asset claims. Grubel, Levy and Sarnat, and Lessard employ a mean-variance portfolio theoretic framework, have stressed the benefits of diversifying investments across national borders, namely the pooling of risks that results from investing in projects that are less than perfectly correlated. Subrahmanyam points out that when segmented capital markets are integrated, in addition to the diversification effect (always positive), there is a wealth effect (possibly negative) which arises out of changes in the macro-parameters of the risk-return relationship. For the special cases of quadratic, exponential, and logarithmic utility functions, it can be shown that international capital market integration is Pareto-optimal, that is, the welfare of individuals in the integrated economies will not decline, and will generally improve. The positive effect of an expansion in the opportunity set offsets any negative wealth effect. The market reformed and liberalized in developed economies in the 1970s and emerging economies during the second half of the 1980s led to the removal of many barriers. The deregulation and the development of local equity markets allowed the possibility of foreign portfolio investments (FPIs). Overall, FPIs would provide a new source of capital and internationalize the domestic capital markets. Subsequent improvements in risk sharing and risk matching would cause the cost of capital to fall. Errunza and Miller (2000 ) use a sample of 126 firms from 32 countries, document a significant decline of 42% in the cost of capital. In addition, they show the decline is driven by the ability of U.S. investors to span the foreign security prior to cross-listing. The findings support the hypothesis that financial market liberalizations have significant economic benefits. 2.2.5 Interaction between subsidiary and parent financing decisions In segmented markets the parent and its subsidiaries will generally have different valuation objectives and investment-acceptance criteria. Under some conditions these depend on the international financing mix. Decentralization can be optimal in the sense of global maximization, provided that the parent is unrealistically free, ex-ante, to optimize its percentage ownership in the subsidiaries at the beginning of each planning period. In the case of a two-country firm, the subsidiaries maximands are independent of the parents. But when the parents ownership position is predetermined at a fixed level, as it is normally, the situation is radically different. Market values cannot then be maximized independently and Pareto optimization is required. Michaels (1974) main result is that, unless agreement can be reached on a compensation principle, the joint ventures cost of capital will be indeterminate. In such circumstances optimal financial planning for the MNC as a whole may be impossibl e. Concluding remarks draw attention to the attendant possibility that the MNC in this case may be unstable and/or inefficient. 2.2.6 The MNCs capital structure decision An MNCs capital structure decision involves the choice of debt versus equity financing within all of its subsidiaries. Thus, its overall capital structure is essentially a combination of all of its subsidiaries capital structures. MNCs recognize the tradeoff between using debt and using equity for financing their operations. The advantages of using debt as opposed to equity vary with corporate characteristics specific to each MNC and specific to the countries where the MNC has established subsidiaries. Madera and Fox (2007) indicate some common firm-specific characteristics that affect the Macs capital structure such as stability of Macs cash flows, Macs credit risk, Macs access to retained earnings, Macs guarantees on debt and Macs agency problems. They also point the unique host country characteristics can influence the MNCs choice of debt versus equity financing and therefore influence the MNCs capital structure. These characteristics include stock restrictions in host countries, interest rates in hose countries, strength of host country currencies, country risk in host countries and tax laws in host countries. 2.3 Risk analysis 2.3.1 Country risks With operations under the jurisdiction of a foreign government the firm is also exposed to political risk, therefore it must estimate the potential costs it will face due to unstable governments, regime change and changes in policies. Political risk may be defined as a particular exposure to risk which depends on the actions of a government, and its assessment or analysis for a MNC is a decision-making tool for investing in foreign countries. An MNC must assess country risk not only in countries where it currently does business but also in those where it expects to export or establish subsidiaries. Many country risk characteristics related to the political environment can influence an MNC. Madura and Fox (2007) indicate that an extreme form of political risk is the possibility that the host country will take over a subsidiary. In some cases of expropriation, some compensation is awarded, and the amount is decided by the hose country government. In other cases, the assets are confiscated and no compensation is provided. Expropriation can take place peacefully or by force. They also explore other common forms of country related risks include attitude of consumers in the host country, actions of host government, blockage of fund transfers, currency inconvertibility, war, bureaucracy and corruption. Over recent decades, there has been a significant increase in political risk for MNCs. This is true not only for an MNCs operations in developing countries, but also for those in developed countries. Governments have felt the need to respond to various pressure groups aimed at curbing the power of MNCs. For example, oil companies may face unfavourable legislation designed to pay for the damage to environment. Developing countries may have to respond to populist sentiments or worsening economic circumstances by seeking to renege on contracts signed by previous regimes. Another risk area which has grown in recent years has been the strength of fundamentalist religious groups in a number of eco

Comparing The Withered Arm by Thomas Hardy and Turned by Charlotte Perk

Comparing The Withered Arm by Thomas Hardy and Turned by Charlotte Perkins Gilman This essay is aimed at discussing the differences between two short stories, called ‘The Withered Arm’ by Thomas Hardy and ‘Turned’ by Charlotte Perkins Gilman. These stories have similar plots and both deliver and contrast these in their very own clever ways. They are both based on the idea of triangular relationships, involving two women and a man. In the story ‘Turned’ there is a couple named Mr. and Mrs. Marroner, and their employee who is a young and beautiful Swedish maid who goes by the name of Gerta. In ‘The Withered Arm’ the relationship is between a lady called Rhoda Brook and a farmer called Farmer Lodge and his wife who is called Gertrude. This essay will discuss the similarities and differences between the two stories and their characters, I will also discuss the language used, and the way the same image is effectively conveyed in the two stories. The author of ‘Turned’ is Charlotte Perkins Gilman who was from a poor background and was born in Connecticut, USA, in 1860. The first story she wrote was called ‘The Yellow Wallpaper’ which she wrote in 1892. She then went on to write her best-known book, which was called ‘Women and Economics.’ Gilman was a feminist writer who believed that women had the right to their own independence. This is demonstrated in the character of Marion in ‘Turned’, as she is a clever woman with a degree and has a title of doctor. Gilman published ‘Turned’ in 1911 at the time where issues surrounding women rights was becoming more serious and common. On the other hand, Thomas Hardy wrote his novel ‘The Withered Arm’ with men in the powerful positions. For instance Farmer Lodg... ...ld and frail and died and Farmer Lodge became a kind, caring and thoughtful man! Gertrude died three days later in the town â€Å"Her blood had been turned indeed, too far.† After this Rhoda had lost her friend and her son so she decided to resume where she had started where â€Å"Her monotonous milking at the dairy was resumed.† Farmer Lodge on the third corner of this triangular relationship gave up his farms and became a member of the parish after he overcame his remorse and moodiness. â€Å"He eventually changed for the better, and appeared as a chastened and thoughtful man† To conclude this essay, triangular relationships happen and probably always will happen for years to come. It doesn’t make any difference about what century it happens in or if it is from a rich or poor background because affairs, unwanted babies and complicated relationships are part of life.

Human Resource Management Process1 Essay

The role of a Human Resource department is ever changing in today’s volatile business environment. Over the years HR have become strong strategic partners within an organization by providing functions such as recruitment, training and development and retention. Human Resource, in order to be strategic, works directly with all levels of management in an effort to help with strategy and the growth of the company to meet their vision. One very important aspect is talent acquisition. Having the right people in key roles within the organization is vital to the success and growth of any company. Performing this function includes job analysis, task and KSA statements, preparing job descriptions, recruiting, and then setting compensation. The entire process from job analysis to compensation is discussed as follows; Job analysis                      When a new job is created or a vacancy occurs, it is the role of a HR representative to fill that void. In order to perform this function they need to first understand what role they are trying fill is and what skills and responsibilities this new role would require. By conducting a job analysis they are able to further define important elements of any job and then search for the person or people that are the most qualified and would be a good fit for the company. Job analysis is the process of describing and recording aspects of jobs and stipulating the skills and other requirements necessary to perform the job. It refers to the process of Gathering and collecting information about responsibilities, duties, skills, the outcomes and the environment that influences working in a particular job field. The job analysis process will help the HR managers find the ideal candidate for the position. Task statement                      Task analysis is the process by which a task statement is derived. The task statement is the most important element of task analysis process because it provides a standardized, concise format to describe worker actions. It is a document that defines and describes the specific job to be performed by the candidate. The creation of these task statements may take considerable thought and insight. However, the rewards of conducting this due diligence before taking on the task of hiring a new employee, makes the process very simple and less stressful. Everything is clearly defined and above all, measurable in the future. KSA statement                      KSA statements are the job related knowledge, skills and abilities that an applicant must perform successfully in a certain position. It is a statement that helps employees in the process of identifying the employee who best fits in a particular field. KSA statements help hiring managers identify the knowledge, skills and attributes needed to successfully perform a specific job. Knowing the tasks that have to be performed, helps you to identify the KSA that the candidate must possess in order to perform to the companies standards and in return hire the right candidate. Job description                      Writing a job description is an important step in the human resource staffing plan. A job description typically outlines the necessary skills, training and education needed by a potential employee for a specified job. It provides an outline of what should be done by a particular employee in a specific position. It should give a brief overview of the role, how it relates to the organizational vision, a list of key responsibilities, requirements and qualifications.Once a job description is prepared, it can serve a basis for interviewing candidates, orienting a new employee and finally in the evaluation of overall job performance. By incorporating and utilizing job descriptions, an organization can better understand the experience and skill set needed to enhance the overall success of the company. Recruitment plan                      Once the Job analysis, Task statements, KSA statements and the job description are completed, the next step is to search for candidates. A complete recruitment plan identifies vacant positions in an organization that need to be filled so that so that an adequate job advertisement can be created and placed appropriately for a specific period of time. Most recruitment plans include searching both internally and externally from the organization. When organizations choose the right people for the job, these people are not only great performers with their job, but also tend to stay with the organization longer. Selection method                      The key to the selection process is to choose a strategy for screening candidates that will allow an organization to view the most qualified candidates for the vacant position. Employee selection process usually entails reviewing, screening, interviewing, testing then selecting the best available candidates for theavailable position. Organizations also make use of many outside agencies when completing the selection process. Drug screening and reference checks are often done by a third party. Many companies are beginning to incorporate assessment tests and activities into the selection process to insure additional training is not necessary for potential candidates. A selection method chosen by the organization should allow the selection panel of a company to pick the candidate that is most suited to fill the vacant position. Performance evaluation                      A performance evaluation is a review and discussion of an employee’s performance of assigned duties and responsibilities. Performance evaluations need to be in place to support decisions made by management and the HR department. The appraisal is based on results obtained by the employee in their job. These evaluations can also be used to teach as they may show areas that need improvement as well as provide backup for recognition of a job well done. It measures skills and accomplishments with reasonable accuracy and uniformity.The performance evaluations need to be structured and performed in a timely manner as well and managers need to be trained appropriately has to how to conduct these evaluations. Compensation plan                      Compensation is a systematic approach to proving monetary value to employees in exchange for work performed.Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. Job analysis can be used in compensation to identify or determine skill levels, compensable job factors, fiscal and supervisory responsibilities and required level of education which is related to salary level. Job descriptions are used as a tool for determining salary ranges.Many people associate compensation with money but when looking for a job, many compensation packages are designed with a package of products in mind. Due to the fact that compensation isn’t just about the dollar figure, compensation packages need to be discussed in great detail when hiring new employees.Overall compensation strategies have to be designed to meet the overall objectives of the organization. Would you change anything in your process at this point? No I wouldn’t change anything. This is because of the following reasons: I don’t think that I would change anything about my paper because I did do extensive research on a HR Receptionist position to determining the skills, qualifications and experience needed for this type of positions. There is a legal need to do a job analysis. Employers who wish to demonstrate that their selection processes are valid will need to start with the job analysis. There are also management reasons for doing the analysis. It yields an improved process for obtaining, retaining and managing organization’s work. Job description communicates the organization’s expectations to its employees. Conclusion                      In conclusion, we have discussed the importance of the job analysis process which includes task statement, KSA statement and job description. Job analysis is the procedure used to determine tasks, duties and responsibilities of each job, and identify knowledge, skills and abilities appropriate to perform the job.The job analysis process can render positive outcomes like increased profits, employee retention and reaching overall organizational goals when implemented successfully within an organization. We have also discussed importance of human resource department’s ability to recruit, select candidates appropriately and continue ongoing performance evaluations with the organization’s employees.An organization cannot build a good team of working professionals without good Human Resources. The key functions of the Human Resources Management team include recruiting people, training them, performance appraisals, motivating employees as well as workplace communication, workplace safety, and much more. As you can see, human resource plays a very big role in the foundation of an organization. Literature review on compensation                      Compensation can be defined as any rewards obtained by employees in return for their labor. Compensation can be divided into three aspects, that is; direct financial compensation, indirect financial compensation and non-financial compensation. Direct financial compensation consists of pay received in the form of wages, salaries, bonuses and commissions provided at regular intervals. Indirect financial compensation includes all financial rewards which are not included in direct compensation, and form part of the social contract between the employer and employee such as benefits, leaves, retirement plans, education and employee services. Non financial compensation refers to topics such as career development and advancement opportunities, opportunities for recognition as well as work environment and conditions. As much as many employees focus on direct financial compensation, it is the non-financial rewards that are more effective in the long term employee engagement. Job position covers the various duties such as interesting duties and responsibilities, autonomy, challenges, authority feeling of achievement, advancement opportunities and opportunities for recognition. Work environment focuses on; competent supervision, fun and effective co-workers, flexible scheduling, modified retirement and fair and consistent practices and policies. Scholarly review                      Levels of firms’ productivity widely depend on good compensation strategies. In small businesses, coordination between general resource management practices lacked, hence, diminished productivity levels. Besides, personnel related problems are arising as a result of unclear, outlined policies on human resource management and compensation in small businesses. Inadequate and inefficient management of human resources often adversely affects employee’s perception of equity, resulting in dissatisfaction, inadequate motivation, higher turnover and lower productivity (Tate, et al, 1982). Unlike small businesses, large businesses rely on a well organized, formal personnel development to ensure effective human resource management. There are various policies that aid in proper human resource management and increment of productivity levels. These policies are based on both wage payment and other fringe benefits. In order for these policies to effectively work, one need to enact proper maintenance practices which include; appropriate induction of an employee, conducting performances review, providing employee service and instituting governance. However, the surveys were done to come to a conclusion on the gap that was observed between ‘what could be’ and ‘what was’ (in terms of professional human resource management) might be caused by at least four factors; a lack of formal personnel management training, a lack of perception on the part of decision makers that productivity is improved by use of generally accepted human resource management practices, a lack of incentive because employers are family members or an inability to use human resource management practices effectively because of size and monetary constraints. Compensation can also be achieved through recognition of personnel. Recognition of personnel is done by considering the following; the length of service, above and beyond program, peer to peer, retirements and sales. Rewarding of the recognized personnel is done through; certification and or plaques, cash gifts, certification and company logo merchandise. Recognition is meant to; salute years of service, create a positive work environment, encourage high performance, foster a culture of recognition and raise personnel morale. Not all gestures succeed. Celebrating employees can also backfire, as far as the research conducted by Business Scholars at Harvard Business School. There were two reasons that emerged; first, â€Å"employees strategically gave the program improving timelines only when eligible for the reward, and call in sick to retain eligibility,† scholars explain. Secondly, â€Å"employees with perfect pre-program attendance or high productivity suffered 6.8% productivity decrease after program introduction, suggesting they were de-motivated by awards for good behavior they already exhibited.† Compensation related issues have called for relevant compensation plans and decisions in order to cater equally for personnel. There are various decisions that human resource management makes concerning compensation as highlighted below; Compensation decisions are essential in compensation strategies. Compensation of personnel depends on the market position (level of pay relative to competitors), internal versus external orientation, hierarchy (the pay structure and the basic-job versus skills-for the pay structure reward mix, and the basis of research performance versus seniority, groups versus individual and criteria used) (Lawler 1981). These are issues that determine decision of salary increment. Increasing list of decisions has raised doubts about the efficacy of a strategic perspective. It brings to mind the multiple facts of job satisfaction that made the constraint more complex than originally conceived (Heneman, 1985), hence, t is necessary to differentiate decision which are strategic from those that are not. Compensation decision making widely depends on the strategic policies as highlighted below; Competitiveness, whose degrees vary among various organizations and among occupations within them, from a strategic perspective, competitiveness refers to positioning a firm’s compensation relative to its competitors (Belcher, et al, 1987). It deals with total return trade off decision. Internal structure- the internal pay structure is a fundamental policy that requires strategic decisions. Typically it refers to the distribution of rates or internal pay differentials. (Simon, et al, 1987.) Decisions involved depend on the issue of pay, equity and slope of the hierarchies. Forms of pay- this is another policy that pertains the forms of the mix of various elements of total compensation (Heneman, et al, 1973). Decisions include the number of forms to offer, the degree to which each is contingent to employees maintaining their membership in the organization like entitlement, or performance like incentives, relative importance of each form and the proportion of the workforce eligible for each firm. Basis for increase-decisions based on the strategic policies involved in granting pay increase are also involved; they range from an emphasis on short versus long term incentives (Caroll, et al, 1987). Role in the human resource strategy- description of firm’s human resources strategies plays a very important role in decision making (Dyer, 1985). Administrative style- this process is used to administer compensation decision also referred to as strategic properties. It deals with issues such as employee participation, communication centralization and dispute resolutions mechanisms. Compensation planning and administration has various challenges which require efficient decision making criteria. These compensation related decisions are formulated to do away with disputes that may result from pre hiring pay, ongoing employment, legal compliance, equal pay out and fair labor standards acts. Conclusion                      From what we have seen in the scholarly articles, for one to improve business productivity, it is essential to have relevant compensation strategies to provide guidelines on personnel compensation. Many small businesses are characterized by inadequate and insufficient management of human resources which tend to affect employee’s perception of equity, resulting to dissatisfaction, inadequate motivation and lower productivity, hence, proper human resource management strategies are essential in building a well organized, formal, personnel department to ensure high productivity levels. Compensation can also be achieved through proper recognition of personnel by considering different aspects as highlighted in the articles above. Recognition is essential as it fosters work environment and also encourages high performance through appraisal of morale among the staff. In order to come up to a proper compensation plan, the human resource department needs to formulate clear policies and procedures to follow. These policies aid in decision making regarding various compensation incentives to personnel or employees. These decisions involve financial compensation which is in form of wages, salaries, bonuses and commissions, leaves, retirement plans and other employee services; non financial compensation decision on job positions and working environment related factors. In short, it is essential for a good human resource management to have relevant policies which are essential in identifying when and how to compensate personnel properly. References Amba-Rao, S. C. & Pendse, D. (1985). Human Resource Compensation and Maintenance Practices. American Journal of Small Business, 10(2), 19-29. Belcher, D., & Atchison, T. (1987). Compensation administration (2nd ed.). Englewood Cliffs, N.J.: Prentice-Hall. Caroll S. (1987). Business strategies and Compensation Systems. In D.B Balkin &L.R. Gomez Mgia, New Perspectives in Compensation, Pp 343- 355, Prentice Hall. Ellig, B. R. (1981), Compensation Elements: Market Phase Determines the Mix. Compensation Review. Third Quarter, 30-38. Freedman, S. (1978). Some Determinants of Compensation Decisions. Academy of Management Journal, 397-409. Heneman, H. G. (1985), Pay Satisfaction in K. M. Rowland & G. R. Ferns (eds), Research in Personnel and Human Resource Management, vol 3, p 115-139. Lawler, E. E., III. 1981. Pay and organizational development. Reading, Mass.: AddisonWesley. Simon, H. (1950). Public administration. New York: Knopf. Tate, J. 1957. Suggestions toward a reformulation of wage theory. Reprinted in Mahoney,1979. Thompson, K. (2014). Honoring Employees is Good Business. Phi Kappa Phi Forum, 94(2), 26. Source document

french revoluion essays

french revoluion essays The French Revolution last from 1789 to 1799. This war had many causes that began the revolution. Its causes ranged from the American Revolution, the economic crisis in France, social injustices to the immediate causes like the fall of Bastille, the Convening of he Estate-General, and the Great Fear. As a result of this revolution there many effects , immediate and long term. The immediate effects were the declaration of rights of man, abolishing of olds reign, execution of king and queen, the reign of terror, and war and forming of the citizen-army. The long term effects were the rise of Napoleon, spread of revolutionary ideas, growth of nationalism, and the The contributing factors to the French Revolution was the economic crisis in France. The French government had undergone economic crises, resulting from the long wars waged during the reign of Louis XIV, the losses incurred in the French and Indian War, and increased indebtedness arising from loans to the American colonies during the American Revolution. The American Revolution showed that they got economical and political freedom from Britain. This liberalism sparked many revolutions in Europe ,but in France the ideas of the Enlightenment and liberalism were put to their fullest test. The French people wanted rights and would later get these. Another reason was that the old regime was ineffective and it abused its power. The immediate causes of the French Revolution were that the Estate-General had to convene. Increasing political pressure and being faced with the total collapse of its finances, the Old Regime began to unravel. Almost immediately tempers arose regarding voting procedures in the upcoming Estates-General. In its last meeting, voting had been organized by estate, with each of the three estates meeting separately and each having one vote. In this way the privileged classes had combined to outvote ...

Oedipus Rex-Sophocles Essays - Oedipus The King, Operas, Oedipus

Oedipus Rex-Sophocles Essays - Oedipus The King, Operas, Oedipus Oedipus Rex-Sophocles JOCASTA My lords look amazed to see your queen with wreaths and gifts of incense in her hands. I had a mind to visit the high shrines, for Oedipus is nervous, alarmed with various terrors. He will not use his past experience, like a man of sense, to judge the present need, but lends his ear to any croaker that argues. Since then my counsels dont have an advantage, I turn to thee, our help when we are in trouble, Apollo, Lord Lycean, and to you my prayers and pleas I bring. Ease us, lord, and cleanse us from this curse! For now we all are intimidated. Who see their helmsman confused in the storm. ] MESSENGER: My masters, tell me where the palace of Oedipus is; or better, where's the king. CHORUS Here is the palace and he lives within it; this is his queen the mother of his children. MESSENGER: All happiness attend her and the house. Her marriage-bed and husband are both blessed. JOCASTA: My greetings to you, stranger; whose reasonable words deserve a like response. But tell me why have you comewhat do you need or what news do you have? MESSENGER: It is good for your husband and the royal house. JOCASTA: What is it? Whose messenger are you? MESSENGER: The Isthmian commons have resolved to make your husband kingat least that is what I heard. JOCASTA: What! Isnt aged Polybus still king? MESSENGER: No, regretfully; he's dead and in his grave. JOCASTA: What! The sire of Oedipus is dead? MESSENGER: If I dont speak the truth I may die. JOCASTA: Quick, maiden, Tell this news to my lord. The god-sent oracles, where are they now? This is the man whom Oedipus long turned away from, in dread to prove his murderer; and now he dies in nature's course, not by Oedipus doings. OEDIPUS: My wife, my queen, Jocasta, why have you called me from my palace. JOCASTA: Listen to this man, and explain what happened to the oracles. OEDIPUS: Who is this man, and what is his news for me? JOCASTA: He comes from Corinth and his message is this: your father Polybus has passed away. OEDIPUS: What? Tell me in your own words. MESSENGER: There is no other way of saying this, the king is dead. OEDIPUS: By old age, or by sickness? MESSENGER: One touch will send an old man to his rest. OEDIPUS: It was sickness then? MESSENGER: Yes, and his age. OEDIPUS:Ah! why should one regard the Pythian hearth or birds that scream in the air? Did they not point at me saying I killed my father? but he's dead and in his grave, and here I am who never touched a sword; unless the longing for his absent son killed him and so I slew him in a sense. But, as they stand, the oracles are deaddust, ashes, nothing, dead as Polybus. JOCASTA: Did I not predict this long ago? OEDIPUS: You did: but I was misled by my fear. JOCASTA: Dont ever think of these things again. OEDIPUS: Can I not fear my mother's marriage bed. JOCASTA: Why should a mortal man, with no assured foreknowledge, be afraid? It is best if one lives a careless life through. Dont fear this marriage with your mother. How often does the chance that a man weds his mother! No reasonable man is troubled by this. OEDIPUS: I should have had full confidence, is not my mother alive; since she lives I still have to worry. JOCASTA: And yet thy sire's death lights out darkness much. OEDIPUS Much, but my fear is touching her who lives. MESSENGER Who may this woman be whom thus you fear? OEDIPUS Merope, stranger, wife of Polybus. MESSENGER And what of her can cause you any fear? OEDIPUS A heaven-sent oracle of dread import. MESSENGER A mystery, or may a stranger hear it? OEDIPUS Aye, 'tis no secret. Loxias once foretold That I should mate with mine own mother, and shed With my own hands the blood of my own sire. Hence Corinth was for many a year to me A home distant; and I trove abroad, But missed the sweetest sight, my parents' face. MESSENGER Was this the fear that exiled thee from home? OEDIPUS Yea, and the dread of slaying my own sire. MESSENGER Why, since I came to give thee pleasure, King, Have I not rid thee of this second fear? OEDIPUS Well, thou shalt have due guerdon for thy pains. MESSENGER Well, I confess what chiefly made me come Was hope to profit by thy coming

Joint Venture Companies - issues with Intellectual property protection Essay

Joint Venture Companies - issues with Intellectual property protection and Technology Transfer - Essay Example In addition, around half do not perform to the expected strategic and financial prospects set by either of the individual investing companies. The creation of joint ventures is somewhat problematic because the individual companies are separate entities having diverse interests, the association with the business venture is intricate, and the staffing is an issue because the employees are drawn from each parent company. Nevertheless, they have their own merits such as reducing the risks, when entering new markets, and enabling each company to obtain skills they lacked in their workforce to set up the business. With this knowledge, the paper will be divided into two parts. Part A will look at the issues that foreign partners face when they enter a market where the intellectual property rights are normally protected in a poor manner. Part B will focus on the intellectual property rights in the Russian market with the example of one joint venture company. There is a lot of concern considering Intellectual property rights. However, before looking at the effects and impacts of intellectual property rights it is essential to have a clear aspect of what they really are. Intellectual property right is wide-ranging terms that is utilised to imply things such as trademarks, trade secrets, patents, copyrights and many more kinds of rights that are provided for by the law to guard originally developed things. In additions, it also includes the protection of the knowledge that has been created because of the invention. However, the knowledge can be shared, as it is not a physical thing. The reason is that the success of a society is dependent upon the sharing and using of that knowledge, without which development cannot occur. Nevertheless, this is a tricky affair because, when that knowledge becomes free for all, then it beats logic. It beats logic because the

Information Systems and Business Essay Example | Topics and Well Written Essays - 500 words

Information Systems and Business - Essay Example In this background, this paper analyzes the questions where these researchers make significant compromises and who does the better job of operationalization in their research article. In their article, Hirschheim and Sabherwal make significant compromises when they deal with the issue of alignment between IS and the business strategies which has traditionally been a key issue facing IS management. Due to insufficient research being conducted on how such alignment is achieved and sustained over time, the authors find it difficult to conceptualize and operationalize their original variables. "Thus, our view of strategic alignment focuses on an organization's ongoing efforts to establish and maintain a series of interdependent relationships between business and IS strategies. These relationships involve the movement (i.e., change) of business strategy and/or IS strategy in such a way that the two are in alignment." (Hirschheim and Sabherwal, 2001, p. 87).