Challenges Face by New Retail Shop

According to a survey on the retail market in Singapore, fashion industry has undergone rapid growth in the recent years and is expected to grow further. Despite the good factor there is also some challenges need to face by the company. A. Challenges that will be faced Firstly, the entrepreneur will face a challenge in finding a clothing designer who has enough expertise and skill, and at the same time has the willingness to take a risk in being part of a business arrangement.This arrangement will have likely oopportunity costs for the designer because the designer will have to forge a salary, and instead invest in a start-up of the business. Secondly finding a suitable venture capitalist will be a problem also. If an investor with little expertise in start-ups comes into the picture, it will not be suitable for the company as the start-up will lose out on the expert knowledge of a professional capitalist.Finally the entrepreneur will face challenges in giving his ideas over to the s crutiny of the investor and in this manner the entrepreneur will feel that he is losing control over his plan. Other challenges that the new company can face are in terms of workers because finding good workers for a new company will be difficult. The salaries of the workers will have to be taken out of the capital initially. Another challenge will be from already established competitors. Moreover, Singapore is a sophisticated market and customers are demanding so the new company will find it difficult to cater to such customers.

Research Paper on Illegal Immigration Essay

Illegal immigration has become a huge issue in the United States, it is estimated that there are about twelve million illegal immigrants living in the U. S. today and that number is growing larger every day. This issue has caused multiple social, economic, safety, and law issues within the country. The state and federal government is using billions of dollars on things such as school, welfare, and medical and receiving minimal or no money in return simply because they are giving out the money to illegal immigrants who do not pay taxes to help fund things. Even though illegal immigrants help the economy, take low paying jobs, and improve the overall image of America, the U. S. must not allow any persons who enter this country illegally to stay in this country because, the illegal immigrants create social, economic, safety, and law issues for the country. The United States has a long history of immigration from different countries. People first started immigrating to the U. S. in around the year 1815. â€Å"Between the year 1815 and 1915 it is estimated that thirty million Europeans arrived into the United States† (Willis par. 1). Once people started immigrating to this country is when the problems started to begin regarding illegal immigration. People of the time wanted to get into, and be a part of this country they just did not want to do it the correct way. Charles Willis stated, â€Å"During the large wave of immigration the U. S. limited the number of people allowed to enter the U. S. , and a certain amount from each country. However the door was left open for Mexicans, who even then were desired by employers for their cheap labor. As history would show, this legal immigration led to illegal immigration† (par. ). This is when illegal immigration is believed to have begun. Furthermore, there are more facts in history about illegal immigration taking place. For example, a L. A. Times story from April 1926 noted that many of the ranch workers in California’s Imperial Valley entered the U. S. illegally without paying the fee or passing the literacy test (Gheen par. 6). Because of all the immigration, both legal and illegal, the government needed to do something to be able to control what was going on, therefore between 1882 and 1917 the U. S. government introduced laws regulating immigration. Immigration legal and illegal did not just occur in history, but is a current event in the United States today. Illegal immigration has become a larger problem in modern times than it ever was in the history of this country. It is estimated that there are twelve million total illegal immigrants residing in the United States (Miller 11). It is also estimated that 1 to 1. 5 million immigrants enter the U. S. each year, and of that million 850,000 people are believed to be illegal (Miller 12). All the people entering the country illegally can cause an abundance of problems. There are only a certain number of immigrants allowed into the country each year. All the people coming to the country illegally count as part of that number. The illegal immigrants that come to this country take up spots for immigrants that want to come here the legal way. That is not the only problem they cause either. Illegal immigrants use up government expenditures. According to William Gheen, â€Å"Undocumented workers do not generally pay income taxes but do use schools and government services, they are seen as a drain on government spending† (par. 8). Illegal immigrants also take up jobs that legal citizens of this country may desperately need that job. This country has been going through times where it has been hard for people to find jobs, if illegal immigrants had not taken some of these jobs it would have been easier for the citizens of this country to find a job. Illegal immigration is still a problem in modern times. Even though there are many bad aspects to illegal immigration there are also some positive sides of it. Although illegal immigration has negative aspects, it also has some positive aspects as well. For example, illegal immigrants help the economy. The money that illegal immigrants spend on goods and services in their local communities and around the state, â€Å"reverberates throughout the whole economy, creates more jobs, more spending and more revenue, the economic benefit far outweighs any cost on the fiscal side† (Gheen par. 12). A 2007 study on immigrants in Arkansas found that the total economic impact of Arkansas’ one hundred thousand, fifty one percent undocumented, on the state economy is nearly three billion dollars (Willis par. 5). Texas comptroller study found that the one million four hundred thousand undocumented immigrants living in Texas in 2005 contributed 17. billion dollars to the state economy (Willis par. 5). Illegal immigrants also take low paying jobs. Most Americans do not like to wash dishes, bust tables, and mop floors, but those are jobs that need to be done. Employers always have trouble finding regular employees to do that kind of work, which is also usually low paying. Americans are not willing to work them whereas the illegal immigrants are. When businesses have trouble filling positions of low skill jobs they only have two choices, raise the wage rate high enough to fill jobs or eliminate positions (Gheen par. 4). Businesses must then raise the prices of their items to make up the difference. Higher prices that the customers of those businesses will end up paying for. Illegal immigration also improves the overall image of America. No other country in the world has the diversity of races, religions, and cultures as America does. America brings together all sorts of different people around the world. Diversity in a country brings less prejudice against people and helps to introduce new ideas, perspectives, music, food, entertainment, strengths and skills. Other countries do not have a good image of Americans, allowing them to see all the good things this country has to offer helps Americas overall image (Willis par. 7). There are multiple positive aspects to illegal immigration. Even though there are some positive things about illegal immigration there are still lots of negative aspects as well. Illegal immigration brings lots of problems to this country. Firstly, illegal immigration allows more opportunities for terrorists, drug deals, and criminals to enter the country. When people come into the country illegally police cannot monitor what is being brought into our country. They cannot do a background check to see if any persons who come have criminal records or could pose a potential threat to the country. Illegal immigration is linked to drug smuggling, murder, and other crimes which threaten the safety of Americans. Jim Kouri said, â€Å"In the population study of 55,322 illegal aliens, researchers found that all together they were arrested at least 459,614 times, averaging eight arrests per illegal alien. Nearly all had more than one arrest. Thirty eight percent, about twenty one thousand had between two and five arrests. Thirty two percent, about eighteen thousand, had between six and ten arrests, and twenty six percent, about fifteen thousand, had eleven or more arrests† (par. 11). Illegal immigrants commit multitudes of crimes which make the city or the area they are living in unsafe for the citizens in that city. Secondly, Illegal immigrants consume high amounts of government resources. Most illegal aliens occupy low income employment and are more affected by downturns of the economy, which in turn puts them into welfare services which the government pays for. Undocumented workers do not usually pay income taxes but use government services, these people are seen as a drain in government spending. The government spends one hundred and thirteen billion dollars on outlays for services and benefits for illegal aliens and their families (Morrow 137). Education for children of illegal aliens represents the single largest expenditure at an annual cost of fifty two billion dollars, which is nearly all payed for by the state and local government (Morrow 138). Illegal immigrants also take up low income easy jobs for less skilled Americans. U. S. itizens receive less job opportunities because they have to compete with illegal aliens. The U. S. citizens pay back the government resources they use by paying taxes, whereas the illegal aliens do not refund the government there money. That is another reason the government should not allow any illegal immigrant to stay in this country. The last reason why the government should not allow illegal immigrants to stay in this country is they encourage more illegal aliens to enter the country. Once a couple people are here illegally they will often try to bring their family over to the country as well. It has been said that, â€Å"Immigration has a chain effect, in which people move to the U. S. , acquire legal status and later bring in more family members either legally or illegally† (Miller 18). People entering the country illegally and being allowed to stay here without any repercussions encourages more people to do the same. â€Å"Failure to punish illegal activity encourages more illegal activity, emboldens crimes, breeds public cynicism, and discourages others from obeying laws† (Miller 19). Illegal activity unpunished threatens American values of law and order. Illegal aliens abuse the generosity and compassion of the American people. Illegal immigration brings nothing but bad things to America. The United States government needs to overcome the problem of illegal immigration. Although there are some good aspects to it such as the illegal aliens will take unwanted low paying jobs that Americans will not work, and how diversity and acceptance of different types of people improve the overall image of America the negatives simply outweigh the positives. For example the illegal aliens can bring whatever they want into the country without anyone knowing what they brought or their background which can potentially pose a threat to American Citizens. Illegal immigrants are a drain of government money because they typically do not pay taxes which pays for all the services they use. They take away job opportunities for Americans to have, and by coming into the country it encourages other people to try to sneak into the country illegally. In order to stop illegal immigration from continuing, the government needs to put more people onto border control so they can monitor and stop more illegal aliens from entering our country.

The Outbreak of the HIV Virus

Who would have ever thought that a disease, possibly brought to America by infected African monkeys, would affect the country forever? This is exactly what happened in the late nineteenth century when the Acquired Immune Deficiency Syndrome (AIDS) was introduced to America. The unpredictable epidemic caused a huge outrage for years to come. The outbreak of the HIV virus, AIDS, in the early 1980†³s resulted in medical research, public misconceptions, and ultimately growing awareness. Appearing first only in homosexual men, AIDS was an unfamiliar virus to the entire United States. Reports of unknown and unexplainable symptoms caused much confusion among patients and even doctors. In 1981, the first reports explained that 41 homosexual men in the San Fransisco area had â€Å"†¦ a rare and often rapidly fatal form of cancer† (Altman n. p. ). After years of researching these cases and millions of others appearing later in the decade, scientists discovered that it was not cancer they were dealing with. They called it HIV (Human Immune Virus) which leads to AIDS (Acquired Immune deficiency Syndrome) that â€Å"†¦ rogressively destroys the body†s ability to fight infections and certain cancers† (ARIC n. p. ). With minimal research there was nothing to initially â€Å"combat† the virus; but, thanks to time and funding, there were some drugs that seemed to help stop the spread of the virus in ones body. These anti-retroviral drugs still don't constitute as cures ! for the virus, but have definitely helped and continue to help patients live longer (ARIC n. p. ). Since a vaccine to â€Å"†¦ evoke an immune system response that will prevent infection or disease development† still has not been found, other treatments have been tested. Accupuncture, stress management, hypnosis, exercise, good nutrition, and an overall positive attitude all seem to alleviate symptoms even if they are not proven cures of the virus (Packer 78-88). Although AIDS is a life threatening disease, there were many people living with it by keeping healthy and staying safe. Scott Fried had not tried any of the aniviral drugs; however, practices such as taking 80 herbs and vitamins a day, staying physically fit, visiting the doctor every three months, and being happy have kept him alive with the virus for thirteen years (Fried speach). Most victims have not lived as long as he which is why AIDS has lead to some extensive research. Investigators supported by private and public funds continued to search for a cure or even an explanation of HIV/AIDS for two decades because like the â€Å"b! lack plague†, AIDS has killed off millions of people in a short time. Also like the black plague did, AIDS carried with it a long string of misconceptions. In the Middle Ages anyone carrying the â€Å"black plague† was to be avoided. Similarly, the public would often avoid people with AIDS. There were fabrications that AIDS could be caught by another human being from sneezing, coughing, hugging, kissing or even any â€Å"casual contact† ; so, people stayed away from those who were infected by AIDS. Another lie was that AIDS was caused by something magical or mystical (Taylor 23-24). Though some were overly careful of â€Å"catching† the virus, others were not careful enough. Since the initial outbreak was among gay men it was simply assumed that only gay men could be affected. Then reports of IV drug users having the disease still seemed to eliminate the chance of the common person being infected. Next, hemophiliacs and people who had had blood transfusions were reported followed by blacks, Hispanics, lesbians, straight women and finally white, heterosexual, males. Still everyone said â€Å"It can†t happen to me,† until it did (Fried speech). This assumption that AIDS only affected few amounts of people and only minorities was the basis of all misconceptions about that virus. People did not believe the virus could have any impact on their lives; but, it did impact everyones lives directly and or indirectly. Now that â€Å"AIDS is the second leading cause of death in the United States among people aged 25 to 44†³ (ARIC n. p. ), the misconceptions have been proven to be false. Although it was statistically correct that 66% of people infected by AIDS were homosexual males, 24% were IV drug users, and only 4% were heterosexual males or females (Packer 17) it was still a fact that AIDS can affect anyone. After years of research and statistical reports there were finally people relaying these messages to the public. Motivational speakers, like Scott Fried, continue to reach out to teens and adults about AIDS and sex. Information about these subjects can also be found easily, not only at hospitals or doctors† offices; but in books, magazines, pamphlets, and even on the internet. Conducting a simple search on http://www. yahoo. com came up with 164 â€Å"category matches,† 1,206 â€Å"web site matches,† and 237,000 web page matches. This means that HIV/AIDS appears at least 238,370 times on th! e world wide web and it shows that AIDS in an important component of modern life. Not only are people becoming aware of the AIDS epidemic, but they are becoming aware of sexuality through learning about AIDS. Before the outbreak of this fatal virus sex was only spoken about discretely. Now even kids are being made aware of the dangers of sex and spreading HIV. In this way HIV/AIDS had a positive affect on the country. People are aware of the facts and probably make better decisions. Some experts have said that AIDS will remain the way it is now and others predict it growing into a â€Å"huge epidemic† (Taylor 28). Hopefully due to this expansion of knowledge and recognition, he AIDS virus will not spread as quickly and infect as many people as it has in the past. HIV positive, homosexual, male, Scott Fried, said, â€Å"Ironically one of the blessings that HIV/AIDS has brought me is the abundance of love. . . † and perhaps that is true. Pertaining to the eighties and the early onset of the virus, AIDS caused much more commotion than love. However, every cloud has a silver lining and the hysteria has finally cleared up some myths. It has opened up the public to not only HIV/AIDS awareness, but sexual cognizance as well.

Communication Bachelor Essay Example | Topics and Well Written Essays - 1750 words

Communication Bachelor - Essay Example The whole societal forces have seen a shift as a result of development in the area of communications. Different theories have also been put forward with respect to communications and as the time passed by theories evolved to cover new aspects and in recent times they now expand to media and its role in the whole process of communication. Different theoretical models were put forward and the earliest model was a simple sender-channel-message-receiver model also known as transmission model. Most communication textbooks, including public speaking, begin with the transmission model of communication. Even today, it remains a valuable introductory model. This particular model was a straight chain and was not in the form of loop. So later, modifications added the concept of feedback, leading to a loop. Further developments in the theoretical models added dimensions to the role of receivers adding that receivers normally selectively perceive, interpret and retain messages. Shannon and Weaver put forward their theories in 1949 and their model was considered very important in further developments. Again in their model communication was considered as a linear, one-way process but they also made a difference between source and transmitter, and receiver and destination. So instead of single function they noted that there are two functions at the transmitting end and two at the receiving end. Criticism hurled at the model presented by Shannon and Weaver was the ignorance of the fact that communication process is often endless while they suggested a definite start and finish to the communication process. Decade of 50s brought in its wake further advancements for model-building, as fields of sociology and psychology developed. USA was the first country where the science of communication developed. Gerbner was among few who recognized the transactional nature of much communication that is the "intersubjectivity of communication". Additions to the earlier single chain or transactional communication model changed and experts started considering communication a matter of negotiation and cannot be predicted in advance. Later on developments of mass media, press, films and radio and political changes further accelerated mass communication research. Hence the focus shifted from communication to mass communication. As mass communication became important, different new models began to refer specifically to mass communication. Westley and Maclean were among earlier experts who put forward their views emphasizing the significance of audience demand rather than just the communicator's purpose. The decades of 1960s and 1970s saw the concentration moving away from the effects of the mass media on opinions, behavior and attitudes, and began to converge on the long-term and socializing impact of the mass media. Some were of the opinion that the audiences in this whole media game are active that is they can adopt or reject the guidelines offered by the mass media. However, another group considered audiences the victims of the media resulting in a suspicion of the mass media that continued through the 1970s and 1980s, particularly in relation to news selection and presentation. With further changes in the communication arena the boundaries separating mass communication

Kant Paper Research Example | Topics and Well Written Essays - 750 words

Kant - Research Paper Example My reasoning is based on the thinking that Kant was of the opinion that if the offender committed murder that he must die because there was no possible substitute that could satisfy justice. Put another way, â€Å"there is no parallel between death and even the most miserable life. There is no equality of crime and retribution unless the perpetrator is judicially put to death.† (Pojman, 1998, p. 29) The example that is given by Kant is that if a society lived on an island and decided to disperse and to go to various parts of the earth, first the last murderer in prison would have to be executed in order that each should receive his just deserts and that â€Å"the people should not bear the guilt of a capital crime through failing to insist on its punishment; for if they do not do so, they can be regarded as accomplices in the public violation of justice.† (Pojman, 1998, p. 29) Kant believes that the â€Å"right to not be killed is a natural right which society cannot o verride and it can only be undermined by one’s own immoral acts, as the criminal forfeits his right to freedom or life.† (Pojman, 1998, p. 30) Kant believed that â€Å"each person has intrinsic worth, based upon their ability to reason, but that we can forfeit that worth through immoral acts† (Pojman, 1998, p. 44) such that the death penalty might well be appropriate. Pojman interprets Kant’s position to be that â€Å"a failure to punish constitutes an endorsement of the criminal act, or a form of criminal complicity after the fact.† (Pojman, 1998, p. 9) Kant and his followers have three main theses they base their justification of punishment on. First, that â€Å"only the guilty can be punished; that if you have committed a crime, morality demands that you suffer an evil for it; and, that the correct amount of punishment imposed upon the morally or legally guilty offender is that equal to the moral seriousness of the offense.† (Pojman, 1998,

Web 2.0 for engaging and collaborative learning in higher education Essay

Web 2.0 for engaging and collaborative learning in higher education - Essay Example Classroom 2.0 uses asynchronous learning to promote collaboration among large numbers of users, instead of consuming one-way information, which is common in Classroom 1.0. Some educators are concerned, however, with the adoption of Web 2.0, because it may not serve their specific teaching needs and it may not always be aligned with learners’ skills and interests (Bennett et al., 2012; Yoo & David, 2011). Other educators think that Web 2.0 is a powerful enabling technology for students (Churchill, 2011; Sistek-Chandler, 2012). This essay aims to negotiate differences in the perceptions of Web 2.0 because of different beliefs in the effects of Web 2.0 on learning. Web 2.0 promotes learning through providing diverse tools for engaging and collaborative learning. Web 2.0 contributes to synchronous and asynchronous learning in higher education because it assists student content creation and sharing, promotes self-regulated learning and teamwork, and supports critical and reflective participation. Opponents of Web 2.0 assert that students have different Web 2.0 skills and these differences can produce cognitive load that can interfere with deep learning. Cifuentes, Alvarez Xochihua, and Edwards (2011) learned that the cognitive load from Web 2.0 interfered with deep learning due to students’ varying Web 2.0 skills. ... The authors stressed the importance of Web 2.0 in enhancing student content creation and sharing, but the inexperience of the students with these tools may prove disconcerting to them enough to not understand its value in their education. Cifuentes, Alvarez Xochihua, and Edwards (2011) also stressed that not all students understood the objectives of using Web 2.0. This article emphasizes the role of instructors in mediating learning through providing clear learning objectives in the use of Web 2.0. Teachers must consider these issues, before introducing Web 2.0 into learning practices. Technology skills and learning goals can impact how Web 2.0 will be used and adopted by both teachers and students alike. Students and teachers may have different interests and preferences too, when it comes too Web 2.0, which can affect how Web 2.0 is accepted and used in actual class settings. Yoo and David Huang (2011), in â€Å"Comparison of Web 2.0 Technology Acceptance Level Based on Cultural Di fferences,† examined the role of culture in accepting Web 2.0. They learned that Koreans and Americans have different preferences, when it comes to Web 2.0 technologies. If instructors are not aware of these preferences, they might not be able to motivate their students in maximizing Web 2.0 for learning. Bennett et al. (2012) noted that teachers also have varying perceptions on the importance of Web 2.0 in teaching and learning. Some teachers continue to believe that face-to-face communication is still the best way of learning, because actual presence can stimulate deep learning. Others believe that Web 2.0 presents interesting ways of engaging students. Clearly, differences in how Web

Clinical psychology Essay Example | Topics and Well Written Essays - 750 words

Clinical psychology - Essay Example A licensed clinical or counseling psychologist usually requires a doctoral degree for employment. Psychologists with a Ph.D. qualify for a wide range of teaching, research, clinical, and counseling positions in universities, elementary and secondary schools, private industry, and government. To work in a clinical position a Doctor of Psychology (Psy.D.) degree is usually required. (College Grad.com.) The prospects for job growth are expected to be faster than the average for all careers through 2012. The average yearly income of clinical psychologists in 2003 was $58,640, according to the U.S. Bureau of Labor Statistics. Psychologists study about the human mind and behavior. They formulate hypotheses and collect data to test their validity. Depending on the topic under study, the research methods may vary. Controlled laboratory experiments, personality, performance, aptitude, and intelligence tests may be used to collect information. In addition, other methods like observation, interviews, questionnaires, clinical studies, and surveys may also be used. The knowledge gained by psychologists is applied to health and human services, management, education, law, and sports. Clinical psychologists constitute the largest specialty in psychology. They often work in counseling centers, independent or group practices, hospitals, or clinics. Some clinical psychologists work in physical rehabilitation centers. Others may work in universities and medical schools, where they train graduate students in mental health and behavioral medicine. Some are involved in community mental health programs. The range of work includes helping mentally and emotionally disturbed persons, helping people deal with personal crisis like divorce or death of a close person, helping medical and surgical patients to deal with their illnesses or injuries, treating patients with spinal cord injuries, chronic pain or illness, stroke, arthritis, and neurological conditions. They often

Sociology Essay Example | Topics and Well Written Essays - 2000 words - 4

Sociology - Essay Example The 21st century has seen an increase in the number of urban renaissance projects across the world. Most of the research on this topic has primarily focused on urban renewal with a particular prominence on how to resolve problems of older areas of towns and cities (Khakee et al., 1999, 10). Research specifies that urban renewal has its own virtues and intrinsic problems which require clearly defined strategies to resolve them. This trouble has led to transfer from urban renewal to urban regeneration. As an alternative of purely focusing on the expansion of land and properties in interior cities and towns, urban regeneration now encompasses social and economic concerns for the residents of the affected areas (Khakee et al., 1999, 10). An analysis of urban renewal policies in the United Kingdom clearly identifies five different stages in the formulation of these policies. These stages include clearing largely unused urban landfills, making improvements to the existing housing infrastructure, renewal of dilapidated houses and apartments, eliminating inner city housing disparities and formulating renewal strategies that specifically incorporate economic and social development. The main goal of these policies is to address social exclusion can be caused by cultural regeneration strategies. Khakee et al. (1999, 10) defines social exclusion as a failure of the legal and democratic system, the labour market, the welfare state system and the family and community system. The Temple Bar Regeneration project in Dublin will be used as a case study. The paper will use a triangulation of a review of available literature in urban regeneration and lessons learnt from the failure of Dublin’s Temple Bar Regeneration project. The project focused on the culture-led regeneration strategies which have since been adopted by many other regeneration projects across the world.

The Concerns of Economics Assignment Example | Topics and Well Written Essays - 500 words

The Concerns of Economics - Assignment Example The household sector includes all the people who seek to satisfy their needs and wants. They are concerned with consumption and productive resources. The business sector comprises of institutions like corporations, proprietorships and partnerships. These institutions are concerned with combining resources to make goods and services. Their major role is production. The government sector has the ruling bodies of local, federal and state governments. The government plays a vital role in regulation through collection of taxes, passing of laws, and forcing other sectors to do their work. The government also buys domestic products as their purchases. Additionally the foreign sector is a combination of everything and everyone; governments, households and businesses beyond the domestic boundaries. Its function is to buy exports and produce imports which are calculated as net exports. A production possibility model is a curve used to analyze alternative combinations of goods that can be produced by an economy within a given time period and with existing technology and resources at that time (AmosWEB LLC, 2013). Production possibility models are an insight into the basics of economics. For the curve presented above the goods are storage shed and crab puffs. A production possibility analysis is undertaken because it answers the â€Å"what† question in resource allocation as scarcity commands that the community has to choose from various goods to produce. It introduces graphical analysis which is essential in interpreting terms like opportunity cost and unemployment. A possibility model illustrates basic concepts in economics. However, this model assumes that resources and technology are fixed. It does not provide information on desirability and satisfaction of the goods. This is not good for the economy as it might produce a good that is not wanted. The grea test level of consumer satisfaction can not be determined. Countries trade because they have different

Human Dignity Essay Example | Topics and Well Written Essays - 250 words

Human Dignity - Essay Example There are number of examples in the history where human dignity took priority over mishandling of humans. For example, the inhuman treatment of workers in the hands of English people made the church to take action and introduce human rights through labor unions. By this way, the human dignity became the yardstick for judging the political, moral and social aspects of a society. Nowadays the void between rich and poor is on the rise, which is contrary to human dignity. This happened due to misuse of power by the rich people. Chances of a nuclear war in different regions of the world spoiled the life of poor countries. This trend was overcome with the help of United Nations to introduce incentives and pay more attention to peaceful settlement of the human issues instead of war to restore the human dignity. Therefore, it is evident from history the human are born free and have the right to live their lives with morality and justice. Human dignity demands equal treatment of all humans in religion, sports, politics, medical and economics

Ways of seeing Essay Example | Topics and Well Written Essays - 1750 words

Ways of seeing - Essay Example Thus, seeing is not just an action verb it’s an adjective. Therefore, perceptions impact extensively on images under observation and these images depict diverse meaning and value to the viewer. Emotions and belief acknowledge how one should comprehend certain phenomena like lightning in rain can be viewed, but not fully described in words as to what impact it leaves on a viewer. Secondly, personal perception do play significant role in this seeing phenomena, as a person with pessimistic belief will consider lighting as a bad omen for him. Similarly, a naturalist will enjoy the moment of climatic fury and in the same manner a religious person will consider it as a sign of God’s wrath on his creation due to disobedience. Seeing is like truth, some part always remains concealed. On the same, line he describes that although as a process gaze comes first and later on it is interpreted by the the gazer, but gaze itself is surrounded by prior belief therefore, elaboration of gaze does come the way it has been perceived in a society. For instance, sacrificing animals on a religious event is acceptable in Islam and few other religions of the world. Hence, the sight of sacrificing animal does not induce painful sentiments in Muslims. Instead it brings a sense of obedience by performing a religious ritual. Simultaneously, a person from a different faith would not accept this explanation and will develop negative perception for this Islamic ritual, as for him the sight will be frightening and an unacceptable action. Perceptions are like planes; they fly and land in a certain domain. Berger also claims that seeing brings the object of speculation, close to individual’s proximity i.e. understanding of it. Many at times, one observes death, however, it does not make sense to loved ones and they do not accept it immediately, but through a rational point of view it is a fact which remains the

Htc Business Model Essay Example for Free

Htc Business Model Essay Executive summary Using Googles Andriod platform has given HTC a boost, but now the Taiwanese handset maker are vulnerable to underwhelming sales in America and Europe. Their hope? China. HTC only entered China in early 2010, much later than its established peers. It is playing catching up with international premium brands, such as Apple, Samsung and LG, where HTC is currently aiming to get a slice of the pie. However, the company is also facing stiff competition from local brands who operate at the lower price market. In this Global Marketing proposal, we propose several initiatives for HTC to grow its current 1% marketshare in the China mobile phone market, including new products for HTC to tap into the lower price market as well as localized promotion campaigns to sell phones in rural areas. It is time for HTC to sway away from satisfied with being quietly brilliant. Context analysis Company Background HTC Corporate, founded in 1997, was a relatively obscure Taiwanese original design manufacturer (ODM). Incorporated as High Technology Computer, HTC focused on manufacturing of computer notebooks. The company created the worlds first pocket size PC in collaboration with Microsoft in 1998[1]; it later developed the iPAQ, one of the earliest PDA for Compaq in 2000. HTCs close tie with Microsoft led them to develop XDA[2] in 2002, first ever smartphone operated on Windows. The company remained true to ODM principles when it produced smartphones by efficiently catering for carriers specifications and requests. HTCs ODM smartphones continued to generate profit margin as high as 20% compared to industry average of 5%[3]. According to Harvard Business Review, HTC shipped more than 70% of the worlds Windows smartphones in 2006 at its peak. HTC won a reputation for excellent smartphones. But it wanted more, and began to invest more in innovation before eventually creating its own brand in 2007. HTC set up a unit called Magic Labs[4], where engineers from various disciplines come up with lots of ideas, even if most were quickly discarded. From this unit bred several ground breaking ideas, including HTC touch, a touch screen device that appeared few weeks before Apples first iPhone; and first ever Android phone in collaboration with Google. Reaping from the Androids high penetration rate, the company experienced unprecedented growth from 2008 onwards and became the top seller of smartphones in America in 3Q of 2011, according to Canalys Research. HTC has recently eclipsed Nokia in market capacity and has climbed up to the no.3 spot for smartphones sold worldwide, behind Apple and Samsung. In terms of brand equity, the company has invested heavily in developing its own brand and broke into Interbrands top 100 Brands 2011[5] (no. 98) . China: Macro-environmental Factors Politics China remained a single party directed country since the founding of Peoples Republic of China in October 1949. Putting political ideologies differences aside, efficient decision-making is widely seen as a characteristic of Chinas political system. The profound changes that have taken place in various fields of this nation: from Deng Xiapings Special Economic Zone in the 80s to the economic leaps in the turn of the century. Inefficiencies in the political system such as corruption still exist today, but Chinas communist party has taken bold steps for reform. The party has embraced market socialist economy to lead China out of poverty and soar to one of the most powerful nations in the world. Economic Despite China has mounted new heights in her economy, outshining Japan as the second largest economy in the world, the slowdown in economic growth has not abated. The housing boom in the past decade is now over, implying that growth now weigh on heavy industry and local consumption. In the past, China has offered massive infrastructure stimulus, as it did to prop up growth following SARS and the global financial crisis. However, local governments have learned not to overheat the economy, as evidenced by the late 2011 credit crunch in Wenzhou[6]. Central government is expecting a moderate GDP growth of 6%, but China is due for correction in its property and possibly stock market. Social Chinas Communist Party maintained its strong foothold in the nation, as the country enjoyed a period of unprecedented prosperity in the past decade. As Chinas economy take flight, the number of local billionaires and millionaires grew by leaps and bounds. The wealth gap, at the same time, widened drastically. As a consequence, there have been several localized pro-democracy campaigns since 2011. Termed Jasmine revolution, citizens used social network site such as microblogs to organize public protests demanding fairness, housing and food – social issues that are often overlooked during economic boom. Such unrests were quickly put to rest as Beijing aims to mitigate any form of dissidents since learning the hard lessons from Tiananmen protests in 1989. Other than localized protests and occasional controversy in human rights, Chinas social order have been maintained. Technology China has sparked its technological boom since it gained accession to the world trade organization in 2001. Internally, China has developed a matured internet market which now boost one of the largest internet users in the world. In mobile phones, the market evidenced a dynamic growth due to the rapid development of mobile subscriptions and growing third-generation (3G) networks. China: Smartphone Market Industry analysis After Chinas telecommunications operators acquired 3G licenses, they formed several strategic alliances with mobile phone brands. For example, China Unicom has established alliances with Apples iPhone and Lenovos LePhone, whilst Motorola and HTC and strategic partners with China Telecom. Customer analysis According to government statistics in 2012, China has become to first country to top 1 billionThe cell phone users, a soar from 2010s 787 million users. The number of users is equivalent to 74% of Chinas population. That being said, only 14% of users are 3G users. Mobile phones are seen as a necessity, as customers regularly use phones for texting and micro-blogging. Competitor analysis Mobile phones are relatively consolidated in China, with the top five brands deriving nearly 72% of total retail volume stales in 2010[7]. Top five brands are Nokia (34.2%) , Samsung (18.1%), LG (6.8%), ZTE (6.3%) and Huawei (6.3%). Apple (1.4%) and HTC (0.7%) are late boomers in the market, with both companies having entered China in 2009 and 2010 respectively. According to market research by Canalys[8], international brands such as Samsung, Apple and HTC should continue to dominate in the space above RMB2,500 (US$400). Leading local tier-one brands, such as Huawei and ZTE, are diversifying beyond the entry level by launching a number of high-profile, flagship smart phones. As of late, Lenovo has made efforts to penetrate the low cost, rural market by introducing models starting from RMB700 (US$158). Company Analysis HTC in China HTC only entered China in 2009 and occupied a market share below 1% as of figures in 2010. Its strategy is to challenge Samsung and Apple as the biggest smartphone players in Mainland, but it also faces stiff competition from local brands such as Tianyu and ZTE Despite its geographic proximity in Taiwan, HTC started off late in China than in richer parts of the world largely because the countrys 3G structure was not as matured in 2009 as today. Targeting Positioning HTCs mission statement is â€Å"to become the leading innovative supplier of mobile information and communication devices by providing value-added design, world class manufacturing and logistic and service capabilities.† Whilst this may have been a successful formula over the past 10 years in geographic location, HTC is in danger of falling behind competitors in China. HTC currently has 10% of the market for smartphones costing more than RMB2,000 (US$320). Its strategy is to target those high-end customers who utilizes 3G network and appreciates international brand. As if HTCs Magic Lab works tirelessly to come up with numerous innovative products, HTC currently adopts a similar volume approach in its phones. HTC regularly pushes forward phones in the market. In 2011, when Apple had launched one new iPhone, HTC introduced fifteen new models. HTCs Challenge After a meteoric rise which placed it briefly atop the U.S. smartphone sales charts, HTC revenue as a whole in the first two months of 2012 was a staggering 45% down on last year. HTC has run afoul of punitive legal juggernaut Apple, which delayed the availability of HTCs handsets. Determined to avoid the fate looming over troubled rivals like Research in Motion, HTC saw a big revitalization push in China, championed by several flagship phones such as HTC One X and Evo 4G Lite. Sales in Europe have been dropping but HTC saw better than expected revenue in China. The rise of HTC in China despite its late entry could be partially attributed to their advanced operating systems with Android and excellent hardware, such as dual core processing units and friendly features where the phone rings louder when in a bag. But with competitors catching up hardware specifications overnight these days, can HTC sustain its China growth? The challenge of HTC faces is not neither simply in hardware nor software. HTC needs to formulate a marketing and branding strategy for China, as to fend off the fierce challenge by international brands (Apple, Samsung) and local players. Proposed Marketing Campaign For the proposed marketing campaign, we propose a bi-polar approach to target existing high-end customers of HTCs and also tap into the basic customers specturum, an area HTC has not entered so far. High-end customers HTC is currently focusing on high-end customers who are tech savvy, able and willing to pay for premium mobile phones. These high-end customers are currently up and coming professionals, live a fast moving lifestyle and mostly reside or work in first or second tier cities, such as Beijing, Shanghai and Xi Chuan. All of these customers have subscribed or are going to subscribe 3G network, in order to make the most of out HTCs smartphones. In addition to product quality and operating system, high-end customers nowadays also care about brand reputation and image. The proposed marketing campaign for HTCs high-end customers is therefore to enrich the brand experience and differentiate HTCs personality. Basic customers As mentioned earlier, 3G users accounts to less than 20% of Chinas mobile phones market. According to market analysis, local players, best represented by ZTE and Huawei, are more popular amongst price sensitive mass and lower-end customers. These basic customers reside in third tier cities or rural areas, demand basic functions for their phones and also aspires to own a smartphone one day. Product Designers collaborations are nothing new. Indeed, they are now a well-established marketing tool – as well as source of income. Standard Hotel Group in America has joined forces with the likes of surfwear brand Quiksilver to provide exclusive trunks and bikinis that guests can purchase in the groups resorts. HM, the Swedish fashion behemoth, took rise after asking Karl Lagerfeld, designer for Chanel and owner of Fendi, to come up with a special collection back in 2004. For mobile phones,it is no different story. RIM collaborated with Porsche design and launched a high-end luxurious blackberry in 2011. LG and Prada started working together in 2006[9] and continued to attract fashionistas for their crossover phones. For high-end customers, HTC should leverage connection with a renowned brand within the Chinese community and produce collaborate products. Nike would deem to be an appropriate choice, given the brand is held in high regards among Chinese and its innovative brand image aligns with that of HTCs. Nevertheless, Nike has strong connection with Apple as Nike currently produces Nike+ a tracking device that connects an athletes performance data with iPhones, iPods etc. If there is a brand for up-and-coming professionals which matches HTCs pricing and targeting strategy, Adidas would be a great fit. Rather than choosing a luxury brand such as LVMH or Gucci, a partnership with Adidas could not only appeal to the sports lovers, but also be perceived as socially acceptable. Partnering with luxurious goods might risk further alienation as the wealth gap widens in China. Adidas is actively investing on its mi adidas platform that rivals Nike+. The sports company enjoys a good reputation in China after sponsoring Team China in Beijing Olympics, and its innovative roots in products and designs could enrich the HTC brand experience. For basic customers, HTC could build 2G or even very basic 3G phones to attract the mass. With much reduced functionality and a lower price point, HTC could attract the 80% users who have not yet subscribe to 3G network. While the simpler handsets should have less fancy functions, embodying the HTC names mean that that the phones should still be innovative. HTC could be more localize with these phones by having local functions such as Chinese keyboard and improved durability that adapts to environment in rural areas. Perhaps basic phones could have a brighter screen for users to view the screen easily in open rural areas, or made in anti-sand materials as desertification is common in northwest China. Aside from hardware reengineering, HTC needs to redesign its software capabilities. HTC is relatively weak in content when compared to rivals such as Apple. It has no plans to launch its own app store, preferring instead to reply on Android marketplace and its apps. HTC acquired French content provider Abaxia in June 2010[10] to develop innovative apps for its devices. Recently, it has installed digital map apps in HTC Sense interface. Currently, there is a market gap in smartphone manufacturer originated apps in China. Almost all of the apps available on Android/iPhone system are developed by individual software company. HTC could potentially develop operating system with apps linked to popular Chinese social media sites, such as QQ and Sinas Microblog. Price HTC should continue to target upper tier price points for its high end customers. Its currently price point closely resembles Apples and Samsungs, averaging around RMB2,500 (US$400). The high price setting strategy further illustrates HTCs ambition to compete with the international brands but the company could consider undercutting its price by a fraction, say less than 10%, than the leaders so as to gain stronger market share. Price reduction should not be advertised aggressively, as it might signal a loss in quality. For products in the lower end market, HTC should try to be a price leader in the arena. Lenovo markets its cheaper line of phones around RMB700, and HTC should try to undercut Lenovo. It is important to capture the basic customers first, with the hope that HTC could persuade basic users to switch to more expensive phones over time. Place According to Economists, HTC now as 2,300 authorized retailers in China. Apple has 3,500 – not withstanding its flagship Apple store and website – while Nokia and Samsung have 9,000 each. HTC could open more shops by granting authorized retailers license, but it is easier said than done as brands jostle retailers for shelf spaces. Rather than investing heavily in opening its own shop, HTC could form a strategic partnership with popular online shop Taobao or Alibaba to reach customers in the second or third tier cities to compliment its e-shop. Further place promotion could been referred in HTC ambassador campaign in People section. In first tier cities, HTC could theoretically leverage on Adidass store presence and distribution network. Nonetheless, HTC should adopt a selective approach by opening flagship store that can illustrates its customer experience. Promotion In HTCs incumbent global marketing campaign, the company slogan is quietly brilliant. HTC commercials do not focus on the precise functionality of their handsets but the way people use them. The concept itself is intuitive, but the campaign is not as much advertised in China as other places – the slogan does not even has a Chinese translation. As a result, HTCs promotion in China is product focused. HTC One X advertisements were filmed where a photographer takes pictures with HTC phone while skydiving – stressing the superior camera quality of the handset. To revamp the promotion campaign, HTC should first come up with a better slogan for China or even for its global campaign. Stressing on the way people interact with HTC cell phones is a good idea, but conceptually the slogan could be more straight forward – Nokias connecting people or LGs life is good are good examples. For China specifically, HTC needs to build on build on enriching users experience. Yan Siqing, chief operating officer of China Telecom said HTC grew rapidly despite its late start because it provided a â€Å"good user experience†. Nationwide promotion campaign should focuses on how HTC helps people to capture their moments in life. Whether is at work, in sporting moments or vacation, a user-friendly HTC handset is always there to make things happen. People Simliar to Unilevers â€Å"Shakti Revolution† to help women in rural India to become entrepreneurs[11], HTC could foster partnership with non governmental organisations, banks and local counties, to promote handsets at rural areas through employing HTC ambassadors. Ambassadors are underpriviledged residents in country sides and they are invited to become direct-to-consumer sales distributors for HTCs basic handsets for second or third tier cities. Contrary to normal mom-and-pop shops, HTC should provide training in selling, commercial knowledge and bookkeeping to help ambassadors become micro-entrepreneurs. This proposal could not only expand HTCs reach in the lower tier markets, but also been seen as a socially responsible act of goodwill. [1]Kim R. Yoffie D., HTC Corp. in 1999, 8th Dec 2009, Harvard Business Review [2]Sourced online: http://xda.o2.co.uk/ [3]Kim R. Yoffie D., HTC Corp. in 1999, 8th Dec 2009, Harvard Business Review [4]HTC: The brand from no where; The Economist, 7th Apr 2012, sourced online from [5]http://www.interbrand.com/en/best-global-brands/best-global-brands-2008/best-global-brands-2011.aspx [6]Wolfe A, Gurushina N Gassambe I, China Outlook: The Tao of Hard Landing, 28 May 2012, Roubini Global Economics Report [7]Mobile Phones in China, Category Briefing, 19 Sep 2011; Passport GMID [8]http://www.digitimes.com/news/a20120619PR203.html [9]http://www.gizmag.com/lg-prada-collaborative-phone/20862/ [10]http://www.ubergizmo.com/2010/06/htc-acquires-abaxia-to-strengthen-its-software-capabilities/ [11]http://www.unilever.com.au/sustainability/casestudies/economic-development/creating-rural-entrepreneurs.aspx

Principle-agent Problem in Shareholders and Managers

Principle-agent Problem in Shareholders and Managers This essay identifies the principle-agent problem between shareholders and managers. It also overlooks UKs corporate governance compared to Germany and Japan. Furthermore effectiveness of UKs system will be analyzed amid recommendations to reduce the vulnerability. Economic theory speculates that a firms goal is to capitalize on shareholders wealth; achievable with entrepreneurial firm since owners are managers. However, ownership nowadays is significantly diluted, with companies owned by large shareholder groups. This causes the separation of ownership and management which hinders the relationship between shareholders and managers; where managers replace shareholders interest with their own. This may be due to information asymmetry  [1]  where managers have the power to act in accordance to shareholder needs. This is known as the agency problem and is common in modern corporate. Under this theory the relationship is formed through a binding contract whereby principals (shareholders) appoint the agents (managers) to execute services with authority to make decisions. However such contracts are imperfect as the impracticality to include every action of the agent whose decisions has an impact on their and the principals benefits. Thus, self interested behaviour arises in organisations as the interest of both parties diverges, i.e. principals interest regards maximisation of shareholders wealth (profit maximisation) whereas agents interest lies in own utility maximisation (bonuses/promotion). Shareholders permit managers to run the firms assets; resulting in a conflict of interest. The fundamental problem therefore is to align the interests of both parties. Furthermore, principals expect board of directors to base their decisions on maximising equity value. However the board of directors expect managers to follow strategies that support their goals. This situation illustrates that shareholders have no direct input into the operation and therefore have no power to tell managers what to do. This issue arises because of the separation of ownership and control and therefore managers are able to pursue goals beneficial to them and unfavourable to shareholders. Overall, detachment between the two parties increases lack of goal congruence. The question arises as to why shareholders do not monitor management? There are three reasons why taking control causes difficulties. (1) Expensive to monitor managerial activities as obtaining information is difficult (2) disgruntled shareholders are unable to pose threats in order to reduce undesirable managerial behaviour i.e. hiring an outside member and (3) dispersed shareholders have an incentive to free ride. Keasy et al 1997 regards the above as economic costs to monitoring. These limitations pose problems for shareholder wealth since undesirable managerial actions takes place in the absence of control. Shareholders may introduce incentive packages which include profit related bonuses, performance, promotion incentives and encourage employees to buy shares which increase their wages, to encourage agents to make optimal effort. Due to the above problems, nations have developed systems which carry out independent monitoring and control of the firm in order to align the overall goal. OECD 1999 stated that corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set, and the means of attaining those objectives and monitoring performance. In UK capital markets play a vital role where share prices advocates performance levels. Managements focus is to maximize shareholders wealth through the use of independent board of directors. The fear of takeover bids forces management to undergo effective actions. Approximately 50% of shares are held by institutional investors indicating dominant ownership. Cadbury Report 1992 states large proportion of shareholder ownership influence companys actions. In 2008 the Financial Reporting council developed the Combined Code i.e. various reports/codes pertaining good corporate governance. The most influential is Cadbury Report 1992  [2]  , was produced as the lack of monitoring management activities caused several scandals whereby executives acted in their interest. Initially, Polly Peck  [3]  went into liquidation after years of false accounting leading to scrutinizing of the financial aspects and accountability. However after the scams of BCCI and Robert Maxwell, they revised the relationship between boards, auditors and shareholders. The final report states CEOs and Chairmans of companies should be separated. Jenson 1993  [4]  states that if roles were mutual, conflict of interest would arise. Furthermore, 3 non-executive directors, two of whom should be independent  [5]  and an audit committee involving non-executives should be included. Companies were encouraged to follow these practises alongside the code of best practise which outlines other areas of concern. However the one size fits all problem was recognised by Cadbury causing all companies registered in UK to follow the comply or explain system. Companies should comply with corporate best practise or have legitimate reasons for non-compliance. Furthermore, the board must offer a full explanation to shareholders and explicate how their practises are consistent with shareholders. Its acceptable only when shareholders believe good governance has been achieved. Greenbury committee, formed to evaluate directors remuneration packages and the lack of disclosure of payments in the annual reports, commenced over publics anger regarding increases in executive pay. The report added to the Cadbury Code and advised (1) each board include a remuneration committee involving independent non-executives briefing shareholders annually and (2) directors should have LT  [6]  performance related pay, all disclosed in the annual accounts. Moreover, progress should be reviewed every 3 years to ensure companies are operating effectively. The Hampel committee  [7]  formed in 1998 suggested all previous principles should be collaborated into a Combined Code. Furthermore, the chairman of the boards should act as the leader, investors should consider voting the share and all remunerations information including pensions should be disclosed. The Turnbull Committee, created the next year, advised that directors should be held accountable for internal financial and auditing controls. Several reports have contributed to the Combined Code namely the Higgs review outlining the actions of non-executives. More recently, after the collapse of Northern Rock and the financial crisis that followed, the Walker Review formed a report concerning banking sectors. The Financial Reporting Council produced a new Stewardship Code in 2010. Germanys corporate system is mainly stakeholder oriented and diffuses away from shareholders interests. The objective is maximising stakeholder value thereby revealing several distinctive differences. Firstly, the banking sector is a major stakeholder. Charkham (1994) stated that banks hold a dominate position in financing and supervising companies for numerous reasons. (1) During 1870 companies were heavily reliant on credit. Banks began offering LT loans to LT clients who tied the companies, obtaining ownership and acting as shareholders within industrial firms. (2) Banks hold 25% of voting capital in large corporations and 28% of seats on the supervisory boards. (3) Banks are shareholder representatives, authorised to vote for their shares plus proxy shares  [8]  , giving further control. Consequently companies are unlikely to face takeovers, since banks will support them through financial hardships unlike in the UK. Secondly, co-operative culture is articulated under the Co-determination Act 1976 whereby workers obtain significant roles in the management process; known as work councils. Work council staff influence business actions and partake in decision making processes. Employees (elected by work councils) sit on the supervisory board when a firm has more than 2000 employees alongside shareholder representatives. This system reduces workforce conflicts by improving communication channels, increase bargaining power of workers through legislations and finally correct market failures. Overall productivity levels increase, with low levels of strikes as better pay and conditions entailing good industrial relations. Finally, Germany involves a two tier board compared to UKs one tier board. It includes a management board (Vorstand) where managers monitor daily operation and conduct of the firm. Plus a supervisory board (Aufsichtsrat) involving only non-executives  [9]  who monitor the management board responsibilities and approving decisions. Separation of the two increases the awareness of individual responsibilities and helps prevent management abuse. The downfall is having worker representatives on the supervisory board as they will opt for decisions beneficial for employees rather than company. For example closing down a factory may deem good for the company however problematic for redundant employees, making it is difficult to work in the best interest of the company. Germanys corporate system lies heavily on good industrial relations which considers its company, employees and public. It shows corporations are a social institution rather than an economic one as it does not put financial value for shareholders at the top of the list of policy objectives  [10]  . Shareholders are seen as one of many stakeholders and not just a privileged constituency. The Japanese corporate governance revolves around banking relations like Germany along with life time employment. There are prominent features including the intervention of government and close alliances between government and companies. Business and industrial activities are monitored by the Japanese Ministry of Finance, involving them in the management and decision process. Japanese corporate rely on main banks  [11]  which are all interlinked with firms, forming a concentrated ownership (shareholders). Prowse 1992 states that individuals hold 26.7% of a firms equity while corporations hold 67.3%. Unlike western countries, Japanese banks can hold equities up to 5%. The argument is by acting as lenders and shareholders, conflict of interests of debt providers and equity will be eradicated. Moreover banks hold these equities for long periods, building a LT banking relationship unlike UKs transactional banking. Furthermore, they are involved with the internal management by obtaining seats on the board of directors. They actively contribute in the decision process and act as insurers for companies entering financial difficulties i.e. bankruptcy or takeovers. Like Germany, banks form LT contracts with companies based on financial services and supervision and act as representatives for other shareholders through proxy votes. One major distinction in Japan is the Keiretsu system. Companies form close alliances mainly between banks, businesses and the government, by working towards each other success. The role of the government became important when they intervened in 1990s as Japan suffered a recession. The government wanted to restore the economy through its policies and regulations by improving the corporate governance to stimulate growth and investment. Germany and Japan both work toward the interest of the company and workers as a collective. However Japans board structure is different as all members consist of former employees excluding outside directors apart from bank officials. The boards have more members than UK and Germany as some companies have over 60 directors. This proves very effective as no domination of directors occur. According to Allen and Gale (2000), focusing on stakeholders rather than solely on shareholders, societies resources are being used efficiently as employees, suppliers and customers are taken into account. This enhances productivity, thus generating higher profits, benefiting the firm and shareholders. Since 1990 the UK have implemented many policies reforming the management and governance of companies. These range from codes, reports, regulation and legislations; but how effective are they? To ensure company interests are aligned with shareholders, UK has imposed various committees to monitor the effectiveness. For example, audit committees review audits annually and overlook financial relationships between companies and auditors. Nomination committees administer human resources and plans future directors. Compensation committees examine management actions and daily operations. Moreover the existence of institutional investors has its advantages as investing in firms they have incentive and motivation to monitor them. This leads to high performance levels which reduces agency costs. However, companies practise ST  [12]  profit maximisation without LT planning making companies underperform, therefore investors sell their shares and exit rather than voice their discontent (occurs mainly in Germany). Overall UKs approach in monitoring company interest is effective as companies have majority of existing shareholders through the need of committees. The Code of best practice gives shareholders confidence that companies are operating with high levels of transparency during decision making processes. From this, the comply or explain system was created, whereby some freedom is left for companies to make effective decisions. The gains from this is that (1) managers and shareholders follow the LT interest of both the company and owners (2) distinguishes the culture barrier individual firms face since there are different levels, size and ownership of companies, whereas code of best practice instils one size fits all rule. Moreover, codes are more effective than regulations as companies can grow whereas enforcing strict internal controls companies are limited to procedures. Furthermore, codes tackle more softer problems relating to best practise compared to regulations i.e. training and supporting directors in their role. The Cadbury Report reflects the above whereby The effectiveness with which boards discharge their responsibilities determines Britains competitiveness position. They must be free to drive their companies forward, but exercise that freedom within a framework of effective accountability. This is the essence of any system of good corporate governance. For this system to work effectively shareholders require full disclosure to facilitate them in their decisions and having rights when dissatisfied. Consequently companies must disclose information in their annual reports stating how they have applied the combined code and giving shareholders voting rights to discharge directors. All these requirements are set out under the company law making the system successful since it was adopted in EC  [13]  and included in the EUD  [14]  in 2006; outlining same principles. Empirical evidence show that UK has drawn close to the concept of good corporate governance. According to the FTSE ISS Corporate Governance Index and Governance Metrics International Reports, the UK has the highest average governance score out of all the countries. Moreover 94%  [15]  of UK pension Funds considered corporate standards in the UK has developed exceptionally. The following reforms revolve around two primary issues (1) lack of separation of management and control and (2) dilemma faced by non-executive directors in terms of monitoring. Accordingly UKs current reforms indicated the need for independent non-executive directors to minimise conflicts otherwise present. However, the disadvantage regarding this independence is, there is less incentive to spend a sufficient amount of time controlling company issues because they have no direct relationship with the company. In addition, doubts on how much knowledge they acquire also poses a problem. One possible pivotal solution that could be incorporated into UK governance is increasing the frequency and duration of board meetings. Company information is very broad and complex especially relating to LT financial performances, competitive position and organisational structure. Therefore it is vital that directors assign more time to assess the information and deem upon past decisions and events. It is recommended that directors meet on a monthly basis for continual supervision and allow directors to address all areas and ask specific questions that affect the future of the company. There are issues surrounding this proposal for example, preparation, however the more frequent the meetings the less time needed to prepare as oppose to the time needed for meetings held every quarter. Moreover, meetings should not be limited to a time schedule but rather should last until all aspects are covered. This method is very flexible for example meetings could last more than one day when a co mpany is in a difficult situation. The advantage is that opinions will be shared more openly and allows non-executive directors to be more involved; this should be carried when discussing the long term corporate strategy. Another solution is altering the composition of the board. In the Combined Code section A.3.2 it pronounces that at least half the board, excluding the Chairman, should comprise non-executive directors determined by the board to be independent. This does not specify the maximum number of seats in total. Therefore it is advisable that the fewer directors, the more likely that each director can play a dynamic and imperative role. The recommended number should consist of eight to ten directors in total. This is so that there is enough variety and sufficient array of viewpoints. When there are more than ten or twelve members on the board, there will be a free rider problem where some directors will stop preparing for meetings and rely on the work of others resulting in topics not being discussed in depth. Finally UK should consider adding a supervisory board like Germany and Japan as this will allow wider diversity among the decision making processes. Moreover it will reduce abuses from dominate directors since there is constant revision of management performance. Overall UK should cease to improve existing polices and the challenge lies in keeping UKs corporate governance an asset rather than a liability for companies.

International business and cultural diversity

International business and cultural diversity Cultural Diversity in its varying forms, undoubtedly plays a distinct role in the success or failure of interaction in the work place, these often come from impassive behavioural judgements, programmed values or peer understanding (Briley and Aaker, 2006). Diversity can be viewed from a variety of perspectives and effective communication in this respect can be actively moulded to formulate an outcome if an understanding is learned or developed before or during this interaction. This essay then aims to discuss the impacts of cultural diversity in the work environment, with focus on how communication is affected both positively and negatively and the degree to which cultural diversity as an explanation of this is a precursor to successful deliberation. So what is culture? Culture is an inherently difficult idea, arguably without distinct definition. Hall (1959: 52) argues that culture â€Å"is a mold in which we all are cast, and it controls our lives in many unsuspected ways.† Hofstede (1980: 45) maintains that culture is â€Å"the collective programming of the mind, which distinguishes the members of one human group from another.† Trompenaars (1994) views culture as the way that a group of people solved the problems that afflicted their society. The successful solutions were then adopted as being normal behaviour or accepted standards and were gradually incorporated to become a part of acceptable culture. This suggests that culture is capable of change and that change is constant (Olivas-Lujan, Harzing, and McCoy, 2004). The concept of culture incorporates a system of shared meanings or values that can exert a strong influence on the objects, events, and ideas to which people attend and toward which they act and att ribute value (Liu, Furrer, and Sudharshan 2001; Trompenaars 1994; Watkins and Liu 1996). People from different cultures are often expected to choose different groups, messages, and methods to affect communication (Chow, Deng, and Ho 2000; Kale 1991) in business this is often reflected at the initial point of exposure but developed over time. Types of cultural diversity are well documented. In business, the work of Varner (2000) suggests a theory of transactional culture, the idea that diversity is learned or altered depending upon the situation. This theory is justified by Hofstede (1980) who states often the interaction between cultures establishes the idea of professional culture, the idea of a single mutual culture fed by both identities. Gagliardi (1986: 124) claims that a â€Å"common culture strengthens cohesion and improves the ability to communicate,† indeed, in the workplace this ideology is apparent when discussing the ways in which diversity plays a role in business interaction. Positively, evidence suggests the addition of multicultural entities to an organisation provides a varied number of successful responses (Source) indeed with the rise in globalisation; the increase in a multicultural workforce is inevitable both internally and externally. This reason justifies the need to understand, facilitate if not promote cultural recognition throughout the business not just at a managerial but personal level. Depending upon the level of interaction, the methods of communication as highlighted by Beamer, (1995) are based on a learned environment, a training culture that aids in the understanding of both the foreign and native diversity. Cultures are often categorised as a means of predicting behaviour, clarification, and standardization as a means of finding unity. To do this, variations among cultural groups are often discussed in terms of geography, gender, age, and class, as well as other variables. Hofstede (1980) formulates these variations into three distinct classes, organizational, occupational and national, but also promotes the idea of cultural dimensions to illustrate similarities between nations. Each of these higher level classifications contain sub-references to the type of culture such as linear active, multi active or reactive and incorporates layers of culture including national, regional, generation and societal groups. Incorrect understanding of these can lead to difficu lties as the acceptable or expected behaviours. In this respect it is necessary to observe that the nature of communication in the workplace is based on the ability to recognise cultural variation and adapt to the changing situation. Nevertheless diversity in the workplace provides differentiated service range, increased market potential and the possibility of higher efficiency (Poniatowski n.d). It is this benefit to businesses that pushes the need to generate active participation and increased awareness of cultural differences (Structural Integration). Poniatowski, (n.d) discusses approaches to cultural diversity in an organisation and suggests that it can be thought of as, cultural relativism, absolutism or pluralism. These illustrate examples of closed, hierarchical, (Monolithic) or individualistic (pluralistic) based culture differences which and is useful as a base to assess the level of understanding in an organisation. In industry, often the first issue to understanding and a stunt to effective communication is undoubtedly one of several factors. These include, language, environment/technology, social organization, contexting, authority, non- verbal behaviour, and conceptions of time (Victor 1992). At first glance, the initial interaction between cultures formulate an underlying set of psychological challenges (Mak, West- wood, Ishiyama, Barker, 1999; Sanchez, Spector, Cooper, 2000). Not only in a business context, this can often create (performance) anxiety (Stajkovic Luthans, 1998; Wood Bandura, 1989) and perhaps embarrassment (Keltner Buswell, 1997), in front of a critical, evaluative audience from the native culture (Edmondson, 1999). The required/expected behaviour in the foreign setting may also conflict with an individuals deeply ingrained values and beliefs, resulting in psychological distress, expressed in perspiration, nervousness and feelings of helplessness (Leong Ward, 2000; Sanc hez et al., 2000; Ward Searle,1991). Cox (1993) discusses the physical association between appearance, language and perception of identity to others and this dance with personal pressure, individual identification and understanding of others perceptions. This could and sometimes does illustrate communication problems through misunderstanding or something that may not be directly recognised as being culturally linked. It is often in this stage, or the first encounter, that prejudices start and can be illustrated through unpredicted behaviour such as an English person for instance speaking Hebrew in France, to the observer this wouldnt be normal or the perceived norm for a French person, highlighting not only the individual expectations based on explicit variables of appearance etc. but stereotypical views of national culture (Larkey 1996). Language is often seen as a variable to cultural identity and can be viewed as an example of explicit culture or observable reality (Hampden-Turner et al 2002). Beamer (1995) approaches this with the concept of schemata. This describes the idea of pre-existing mental structure that allow someone to make sense of information. With regards to cross cultural schemata this calls for a so-called alignment of thought processes referred to as mutual expectation (Hampden- Turner et al 2002) and is often difficult to achieve. The next step in this is the relation between the language and the tones of the dialect in its portrayal of ideas or concepts. As suggested by Tannen (1998) conversation is a mixture of engagement and a consistent pattern of constants and constraints, this can illustrated by the French or Italians for example, who use language dialogue as tools of elegance. Not only this but the subtle use of body language as an indication of expression. Meanings through language can be interpreted in a variety of ways. In many countries the use of silence can show understanding and appreciation even respect but this can also create misunderstanding not only of expression but intent. Language can also be regarded upon reflection of Maltz and Borkers (1982) work as an example of the gender-as-culture hypothesis, explaining differences in male and female language use and societal roles. They observed that children learn much complex social and communicative behaviour through interactions with same-sex peer groups this is then carried on throughout life. These social contexts not only promote gender-specific language styles and norms, but also reinforce gender-specific cultures, thus justifying personality trait theories such as those proposed by Smith, Dugan Trompenaars (1997) and underpinning the social prejudice work of Aldrich, (1999). More recently, Mulac, Bradac, and Gibbons (2001) observed that although men and women may speak the same language; they speak it differently.(Tannen) Similarly, Jameson (2007) suggests the cultural impact on emotion. â€Å"People have positive, negative, neutral, or ambivalent feelings not only about race but also about other components of cultural identity. For instance, a particular individual may feel positive about her gender, negative about her economic class, neutral about her nationality, and ambivalent about her ethnicity,† (Jameson 2007:25). This justifies the linguistic hurdles that belay intercultural communication even before conversion starts. The understanding then of language as expression and a projection of national character comes hand in hand with listening. As communication is a two way process, the listener or audience must respect the listening patterns and differences in the nature of conversation. It is important to recognise that communication is not simply restricted to verbal interaction. In modern society, the use of technology as management of teams and communication has pr ovided varied challenges in dealing with understanding globally. The increased use of virtual teams on widespread projects means there is a need to both get to grips with the advantages of the technology such as â€Å" frequent, easy, low-cost, around the clock communication and collaboration† (Duarte Snyder 1999: 24) but also to be sensitive to the audience, the levels of formality in an organisation, language and to have awareness of values and beliefs, communication styles, and approaches to decision making, problem solving, and conflict resolution when relying on non- face to face contact. Language and listening are related directly to methods of communication. As well as these, patterns of cross cultural business behaviour tend to stem from deal vs. relationship focus, informal vs. formal, rigid vs. fluid time and emotionally expressive vs. emotionally reserved cultures (Gesteland 2003). Again these interpretations like those of Hofstede (1980) etc. are relatively rigid in their attempts to justify differences, however they are useful in understanding a perspective pattern when dealing with communication. Deal focus cultures refers to task orientation whereby relationship focused are more people orientated. Similarly, those from egalitarian cultures differ with more formal counterparts from hierarchical societies, the perception of time is also fundamental in some cultures separating the lazy from the â€Å"arrogant martinets enslaved by clocks and arbitrary deadlines.† (Gesteland 2003:17). Those who exhibit an emotionally expressive nature communicate differen tly from those who are reserved, this resulting confusion can often be mistook for lack of understanding or effort thus creating a gap in negotiation of interaction management. Interpretation of body language also plays a significant aspect in the portrayal of the type of cultural pattern being displayed by those during interaction. The subtle differences in movements such as the head and eyes of the speaker, in cultures such as those of Spain or Greece is considered a reinforcement of position and a sign of respect, maintaining consistent eye contact for example, whereas in Japanese culture this same movement it is considered improper and rude. This type of behaviour is not uncommon to hierarchical cultures. Expressive features of the body also include the hands, used to emphasise a point. The notion of body language is a critical aspect in understanding the meaning of conversation sometimes not portrayed by the language, especially if the language is not native. Non- Verbal expres sions then like language can effect communication unintentionally. Similarly, cognitive patterns formulate reasoning and approaches to interaction. In this, understanding variations in thought between cultures promotes correct verbal response and action. For instance, in Japanese- United States (U.S) business deals, those thought to be completed by US negotiators can often be re-opened by the Japanese, this can be frustrating for the U.S but a necessary aspect of understanding for the Japanese (McDaniel, 2000). In addition to the levels and methods of interaction, both in the workplace and society, cultural identities are also thought to be associated with the idea of power positions, that some cultural groups have greater power, prestige, and status than others (Ridgeway and Berger, 1986; Nkomo, 1992; Ragins, 1997). In Western society there exists a predetermined cultural norm amongst a variety of groups. Many of these are becoming blurred but have been empirically proven by Alderfer (1987) as a residual cultural standard. This view of status is jointly underpinned by achievement vs. ascription cultures where a position is earned through education; such as a degree from a good school or attributes such as titles at birth. Not only this but also the idea of connections, status can be achieved through who you know ideology. There is much support for the notion that paying attention to differences in power and status is critical for understanding diversity in organisations. In Alderfers (1987) theory of intergroup relations, for example, the distribution of power among cultural identity groups, both inside the organization and in the larger society, is key to how people think, feel, and behave at work. The power distance index given by Hofstede illustrates this gap and underpins Harbermas (1970) study of communicative distortion whereby the hierarchical relationships or norms for interaction in an organisation will limit the extent to which communication is freely given in a global context. There is then a standard norm for communication that transcends the gap of cultural similarity, an underlying base of dos and donts or methods of conducting ones own behaviour during communication. Proponents of status characteristics theory (Ridgeway, 1988; 1991) argue that much of what we think of as the effects of membership in particular identity groups, such as race or sex, are in fact produced by the status value our society ascribes to those groups, so does this effect both our own personal rules for interaction, the rules dictated by the organisation or the expected rules of our culture? It is important to understand that there is a difference between intercultural communication and intercultural business communication. In intercultural business communication, communication can often depend for example on the interaction style. This may change depending upon the context. In this the identity of the person changes depending on the environment. For example, professional, social and cultural identities would alter the style of verbal contact. A social business interaction would be different for some cultures than others. This reflects the work by Spencer- Oatley (2000), which discusses the idea of identity face, where a person can use multiple layers of identities at a given moment (Collier and Thomas 1988; Hecht et al., 1993). Fundamentally, in business communication both strategies, goals, objectives, and practices become an integral part of the communication process and help create a new environment out of the synergy of culture, communication and business. The work of Holtgraves (1997) examines how culture influences whether a person uses direct or indirect communication. He finds that Koreans are more likely to be indirect than are U.S. citizens in intercultural communication. Gudykunst, Matsumoto, and Ting-Toomey (1996) found that individual factors are better predictors of high and low-context communication styles than cultural values of individualism and collectivism. Hosftedes (2001) work on inter cultural interaction highlights the differential value systems of countries, this justifies the notion of communication methods highlighted by Holtgraves. In this, the likelihood of successful interaction is either enhanced or reduced by the value set of a given culture. Based on the ideas of individualism, collectivism, power distance, masculinity, femininity, long term orientation and uncertainty avoidance (Hofstede 2001) it is necessary to alter ones cultural and business environment and create a new context (Bolten, 1999). More than this how ever, there is a need to understand the impact of key organizational concepts such as HR and promotion policies, decision-making, competitive environment, financial/business laws and governmental regulations on the intercultural business communication processes. Participants in interaction must understand the relationship of business and culture in a particular environment to create a common ground to base discussion. In the work place certain predicated knowledge then can be detrimental to business relationships. The prejudices gained through peer interaction, value sets and indeed media interpretation learned or perceived through the process of â€Å"growing up,† all add to this vision of an outcome before any intercultural communication has taken place. It can often seem like a finite game of West vs. East ideology so often if these practices are used in organisations that use a monolithic approach this can have negative effects both economically for the business but make it even harder for employees to respond to change. In modern society there is a need to engage in cultural experimentation. The work by Lovett (1999) and Yan (1997) challenge the conservatism approach by presenting an argument based around the individual rather than culture, highlighting how interaction is formulated from an individual perspective. Simply, cultures dont interact with each other individuals do. This sent iment puts forth the cognitive approach to interaction based both on the value set of the culture, the transactional culture created by the interaction and the contextual understanding of both parties, developing a value hierarchy for interaction. This however isnt simplistic, unlike the linear, sender/receiver models such as those proposed by Limaye and Victor (1991), this could represent in itself a dominant personified role for either representative. Simple stated, communication and interaction between individuals is a product of the moment, the message is given but filtered before understood through these layers of culture as discussed in Lewis (2005 : p 44-45). Leininger (1997) suggests a more appropriate model for solving the issue of cultural understanding in methods of communication. She discusses presenting a relationship between business context and global strategies, the aims of each business; if these are clearly defined by both parties this systemic approach removes the necessity for traditional processional communication. Yet this model fails to reduce the gap between cultures, as highlighted by Fine (1996) perspective models often only gloss over practices but rarely alter the perception or differentials in neither organisation or individual, Walck (1995) agrees that such approaches would eliminate rather than manage diversity. So looking at the differences in cultural standards between two cultures, Fink et al (2007) would suggest that they are, â€Å"not necessarily the consequence of differences in a single cultural dimension (i.e., values). It can be safely assumed that contexts, choices, and decisions made within a society by groups or organizations and interactions among sets of values (combinations of values) can influence the emergence of specific cultural standards. Although these choices are based on values, different modes of behaviour may be relevant within different contexts.† (Fink et al. 2007:47) From a personal perspective, the transition between cultural environments whether through businesses exchanges or geographical movement can be enough to generate an atmosphere of uncertainty, referred to by Lewis (2000) as Culture Shock. Culture shock is a multifaceted experience often felt by people whose opinion of normality is blurred in a foreign country. Whereby societal norms or traditional approaches alter and everything is different to what is expected. From this, one can experience a sudden loss of identity, different in regards to cultural identity, this is based on the individual and perception of ones self irrespective of the base culture. This can be a daunting period, developing in stage transitions, moving first from an initial apprehensive model through crisis and resolution. Despite this movement though, the process if often cyclic and the transition between each and even the return to the host culture can re-ignite this out of body experience (Winkelman 1994). For c ommunication, culture shock can have negative effects with lack of enthusiasm, misunderstanding, and perhaps depression. But the individual needs to understand that despite culture requiring us to think and giving us metaphors, facts and norms it doesnt tell us what to think. Based on this idea, Cohen (1989) argues that identity can be created through community, the idea of symbolic or imagined community in the host culture. This paints a pretty picture, but doesnt solve the underlying problems of ethnomethodology, and people can sometimes fail pray to others definitions of their identity when maintaining extended periods in foreign environments, the idea of cultural Diaspora (Gilroy 1993, Jenkins 1996). Critically for the success of business interaction, it is the ability to recognise ones own programming or the awareness of ones own metaphors for being that lays the foundation for communication. Yet at present even with a degree of understanding, there still remains an interactive gap between cultures. The idea that cultures stick together is prominent from the boardroom to the classroom. As discussed by Echenique et al (2007) the use of social networks can be used to both explain and or reduce this gap, currently a Spectral Segregation Index (SSI) has been used to measure the connectedness of individuals from a variety of backgrounds and makes it possible to compare the segregation between cultures. 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