What is the relationship between happiness and meaning Why Essay

What is the relationship between happiness and meaning Why - Essay Example In modern times, a parallel to this view becomes most apparent in the philosophical works of Victor Emil Frankl, MD. PhD. Dr.h.c.mult., the most renowned Austrian psychologist. Suffering was the force that strengthened his personality and enriched his character with such grit that he evolved as an individual who retained the ability to feel and express love towards mankind. The three years he spent in Auschwitz, Dachau and other concentration camps in the Nazi Regime, have inflamed his spirit instead of quelling it, thereby transforming him into a most resolute and positive human being. The conscience of most men would have got distorted by what he underwent; but Frankl resurrected from the grueling experience and emerged as a person who found meaning by surviving a terrible experience. He had rendered his services as a professor and director in many medical schools and universities including Harvard. He had also been bestowed with honorary doctorate degrees by 29 universities and has also won several awards. (Life and Work). Frankl had authored a number of books and articles, which were translated in 32 world languages, but the one that is most relevant t o the topic is Man’s Search for Meaning: An Introduction to Logotherapy, published in English in 1963. Frankl’s approach of existentialism is based on three philosophical and psychological concepts: Freedom of Will, Will to Meaning and Meaning in Life. (What is Logotherapy and Existential Analysis?). He promotes the idea that humans can exercise free will to mold their lives, and a person who possesses wisdom that comes from spirituality has full control over how his life shapes up. This ability further equips humans to identify their purposes and to achieve the goal. Those who do not apply their wisdom in understanding the objectives of their life feel that their basic existence is meaningless because searching and finding the meaning of ‘being’ is the

Amnesty Essay Example for Free

Amnesty Essay Ever since we started campaigning in 1961, we’ve worked around the globe to stop the abuse of human rights. Amnesty International Goals and strategy AI aims to maintain every humans basic rights as established under the United Nations Declaration of Human Rights. In accordance with this belief, Amnesty works to: †¢Free all Prisoners of Conscience (a POC is a person imprisoned for the peaceful exercise of their beliefs, which differs somewhat from the typical use of the term political prisoner). †¢Ensure fair and prompt trials. †¢Abolish all forms of torture and ill-treatment of prisoners, including the use of the death penalty. End state-sanctioned terrorism, killings, and disappearances. Amnesty International works to combat individual offences (e. g. one man imprisoned for distributing banned literature in Saudi Arabia) as well as more general policies (e. g. the recently overturned policy of executing juvenile offenders in certain U. S. states). Amnesty works primarily on the local level but its forty-year history of action and its Nobel Peace Prize give it international recognition. Most AI members utilize letter-writing to get their message across. When the central Amnesty International organization finds and validates to its satisfaction instances of human rights abuse, they notify each of more than 7,000 local groups as well as over one million independent members, including 300,000 in the United States alone. Groups and members then respond by writing letters of protest and concern to a government official closely involved in the case, generally without mentioning Amnesty directly. Amnesty International follows a neutrality policy called the country rule stating that members should not be active in issues in their own nation, which also protects them from potential mistreatment by their own government. This principle is also applied to researchers and campaigners working for the International Secretariat to prevent domestic political loyalties influencing coverage. Recently, Amnesty has expanded the scope of its work to include economic, social and cultural rights, saying that these concerns had arisen out of its traditional work on political and civil rights. Its 2004 annual report said that it is difficult to achieve sustainable progress towards implementation of any one human right in isolation. AI will strive to assert a holistic view of rights protection. It will be particularly important to do so in relation to extreme poverty, and the human rights issues underlying poverty. [2] As an example it asserts that The right to effective political participation depends on a free media, but also on an educated and literate population. [3]

Black Boy :: essays research papers

Black Boy   Ã‚  Ã‚  Ã‚  Ã‚  Black Boy is a story written in first person through the black boy’s eyes. The story opens with the black boy cleaning eyeglasses at the sink during the morning hours before lunch. As the boy washed eyeglasses this day as all other days, Mr. Olin, a white man who ordered the black boy around hovered over him. While striking up conversation with the black boy, Mr. Olin asks a ridiculous question if the black boy is his friend. This question in the story is the first step in developing the plot. The black boy, fearful of the Mr. Olin and the power he has over him, decides to lie to him and tell him that he is his friend. Mr. Olin begins to trick the black boy in thinking that another black boy named Harrison wants to fight him because of words that were taken the wrong way. The black boy gets worried because he does not remember saying anything insulting to Harrison, and he wants to talk to him and make things right. Mr. Olin tells the black boy that he will go and speak to Harrison for him. During the black boys lunch break he goes and talks to Harrison himself about the situation, but soon they realize that they are being set up to fight each other in order to entertainment to the white men. Both black boys keep their mouths shut about speaking to each other and knowing the truth that neither of them wants to fight. Mr. Olin and Harrison’s boss both keep egging them on for weeks to fight each other and finally bribe them with five dollars to box fight. Harrison is interested because he wants a suit and this money will help, but the other black boy knows that this is shameful and does not want to fight no matter what the bribe is. For days Harrison and the black boy dispute whether to box or not, and they finally decided to box but to pretend. The day comes to fight and both stare each other in the face realizing that they do not have enough knowledge about fighting to fake the whole scene. The fight begins and the two boys angr y at themselves, each other, and their authority begin to fight and shed blood. After their fight both boys feel shame and degraded and never fight again although they are egged on many times after.

Effective Communication Effective Techniques

Communication Is always Important no matter what type of organization or environment it may be. Feed back and the teams approach can determine how effective and ineffective the organization is. When the team approach technique is used communication is better, there is less barriers between each department, and the speed/quality of work usually is improved (Lombardi & Shoehorning, 2007). Feedback is always good because it allows an employee to get information about what he or she is doing right or wrong so that they can take the time to improve.In he health care field workers are always completing self-assessments, this makes the team approach technique especially good for them because they are able to Improve and then they can get with other health care workers and discuss their Ideas about what Is Important for the organization. Sharing each others Ideas and providing Important Information Is one of the most effective techniques used to run an organization successfully. There are ma ny advantages and disadvantages with a team approach.There are some people that like to work as a team, yet there are others that would rather work alone. One advantage would be getting more than one opinion about what is best for the organization. One disadvantage is competition, some people may want to try and be better than the next person instead of trying to work as a team. Working as a team can sometimes make people very frustrated because they have to rely on others. (Krebs, 2009) Ineffective techniques There are ineffective techniques as well.When working as a team there may be problems that arise, Like feedback from others may not always be taken positively which can cause Issues In the work environment (Krebs, 2009). There are also times when someone may not finish their duties leaving It for someone else to do It for them. It can be hard for some to come to the same agreement and this creates problems In the work environment. Many of the people that I worked with did not want to work as a team they wanted to do everything on their own.We had to show the managers that we were working as a team, but when they were not looking over our shoulder many of the employees did what they wanted to. This makes things very frustrating, there are so many times when someone does not take work as serious as he next person and this creates more of a work load for those that do take their Jobs serious. Ways these techniques are applied It is very important in a healthcare work environment that these techniques are applied.There are so many duties that health care workers have to do, if they take the team approach than the Job can get done without any hassles. Healthcare Jobs can get very stressful at times; it Is always good to have more than one hand doing the Jobs. Communication Is essential because a lot of mistakes can occur with paper work or any miscommunication. These techniques can be applied by developing a am memoir expertise Ana learning now to communicate as a team (Salesman, Idea, Farmer, Vetch, Rosen, & Kid, 2007).

Twilight Book Report

Twilight is a series of four vampire-themed fantasy romance novels written by American author Stephenie Meyerv and the first novel is called Twilight with the same article as the series. It is about a love story of a girl and a vampire. Bella Swan moves to the cloudy town of Forks to live with her father, Charlie. For the first day of school, she finds herself on friendly terms with a few of the kids. She has lunch together with her new friends and meets Edward Cullen for the first time.She is transfixed by the beautiful Edward Cullen and gets to know more about him after she is saved with Edward’s supernatural speed and strength from an accident. They sonly fall in love with each other. With the protection of the Cullen family, she escapes from James, who tries to kill her. Unfortunately, she is seriously wounded, but Edward rescues her. Twilight is an original story which interested me a lot because it tells about a love story between two ‘people’ from a human w orld and a vampire world whose relationship is a typical and special one.The story line goes in a clear way and it lures me a lot to know about how the next step goes to. My favourite part of the book is the chapter ‘hide and seek’ which its article has already got my attention from my first sight. The chapter talks about how James tries to trick Bella to the dance studio that he has got her mother and attacks her. The description makes an atmosphere with suspense and mystery to excite readers and lead them to guess the plot. I would like to meet Edward the most. As a vampire, I believe he has a tough life to live in a human’s world and follow others’ living habit.I am so impressed with the power and the special gifts he received that he can read others’ mind. I would like to ask him questions about vampire’s history and what kinds of innate technique do other vampires get cause I am very interested it them. Lastly, I would ask if he ever thi nk that being a human is better than transforming into vampire. For common people, we feel cool to be a vampire but we can never know how it really feels for a true vampire to go through the experience. That’s what I am curious about the most about Edward.

buy custom Sample essay on Extent and Effects of Pollution in China

buy custom Sample essay on Extent and Effects of Pollution in China Extent and Effects of Pollution in China China is on a way to become the next superpower in the nearest future, and to achieve its goal China has made numerous economic, urbanization and industrialization gains at the expense of air, water and land pollution. Perhaps, it is due to that neglects that China has faced numerous consequences from pollution in regard to health. The biggest effect to the pollution problem of China is that huge amounts of money received from economic gains is reversed back for catering health problems arose from pollution. From various research and reports, it is evident that almost the whole territory of China is affected by pollution, especially the urban towns. Health impact from air pollution takes the largest percentage of all effects of pollution towards health. Air pollution affects both plants and animals' health in various ways. Humans in China are the major sufferers as the crops they feed on are affected too. People cannot find adequate food for survival and have to seek for alternative methods of getting food. The humans cannot also concentrate on working productively as the air pollution causes headaches and nausea. Water and land pollution affects both humans and the environment at almost similar rates as they are interdependent. Natural resources such as rivers, seas, forests and grasslands are becoming depleted or useless at an alarming rate. The rate of depletion gets higher with the increase in the amount of industrial wastes. The dumping of wastes from industries or household was not considered in the development plans of China. The decreasing of pollution levels in China would involve a large amount of money for the purification programs. China has the money to do so, but it is afraid of loosing the gains that it has made during the last century. Buy custom essay on environmental pollution

Dinner with Freinds essays

Dinner with Freinds essays In the play Dinner with Friends, the main conflict was between Beth and Tom. This is revealed in the first scene while having dinner at Karin and Gabe's house. Beth cries out about Tom not loving her anymore and wanting to divorce her. She confides in Karin and Gabe which leads to the secondary conflict. The secondary conflict is Karin and Gabe now having to figure out how to deal with their friends and now their own marital problems now that it has been brought to a front. The complications in this story reveal that life is short and once you are married it starts comming to an end. This is shown in the scene betweeen Karin and Gabe when they are lying together in bed and Karin shares her nightmare wit Gabe. They then realize that the spice in their marraige is no longer when he tries to frighten her the way he used to when they first married by saying boo and she isn't frightened at all. You also no longer are able to live a carefree enjoyable life in that all you live for is your kids and for them to have an enjoyable life. This is shown by both Beth and Tom when they were defending their case to Karin and Gabe. In my opinion it also goes to say that all good things come to and end, such as life and marraige which all start out great then For a basic review of the actors and the acting in this play, I would say that it was superb. The actors were very on point and every actor nailed their character and portrayed them very well. The four main characters in this story were Karin and Gabe, and Beth and Tom.Beth and Tom was the couple going through the divorce. Tom playedan angry, upset , and also flirtatious lawyer. Beth played a sad, lonely, artistic house wife. My favorite characters were Karin and Gabe. Karin and Gabe were supposedly a happy couple, they were very verbose on the subject o ...

Make Case Study Writing Manageable

Make Case Study Writing Manageable Make Case Study Writing Manageable Case studies are one of the most difficult things to write. There are very specific formats to be followed. Sometimes they can be complicated for people that have never attempted this type of writing. Research needs to be documented so it can be confirmed by someone else at a later date (if necessary). All graphics need to be checked for potential typographical errors and consistency. Writing even a small case study can be challenging, and why so many new writers can benefit from the help of an academic writing service. Writing a case study has several steps. First, gather all relevant information, sift and organize it to make a convincing case. In a pre-digital era information could be spread out over a huge physical area with note cards, books, reports, and folders. One advantage of using laptops and desktops is that all that information can be scanned in and kept in a single thumb drive or in the cloud. Not only can you work on a case study wherever you wish, it keeps your workspace organized. The next step is to start organizing in a clear and coherent way. This can be facilitated by a renaming and sorting files, or dividing resources into a few physical piles. By classifying sources into different categories, a better narrative can be developed. Better yet, your directories and files can later be digitally shared with others, giving them easy access to the information. Once this has been done the writing itself can take place. Using an academic writing assistance service can be a huge help in this endeavour. A professional writing service can teach you how to create any necessary graphics, adding a little extra panache to the study and better organizing information that may have been merely input into a plain-looking table. They can also check for typographical and factual errors. This makes the effort much easier for any person in charge of a case study. All told, a academic writing assistance service can save a lot of stress and time, making it well worth the investment. For those looking to make an impression on readers, this service is well worth the investment. For those more concerned with the research, help with writing is a welcome relief. Contact Master’s Essay today to get started.

Chinese history final essay based on film to live Movie Review

Chinese history final essay based on film to live - Movie Review Example China had conflicts with the USSR with regard to its border. During this period land was freely given to the poor, who engaged in farming. Mao, who had declared to be a Leninist, led discussion on the performance of the party. The educated citizens’ criticism led him to arrest several people. The educated group was under siege. The Mao led group was branded anti-rightists. The educated citizens were threatened of being denied promotions if they were to persist in their demand for their rights. The poor people in the old china had low status in society given that their high social class counterparts controlled them culturally. The communist group was despised regardless of the affluence of their members. The nationalist group was vibrant and determined to fight the radical communist group. According Yimou, the people in the old China held the subjective feudal autocratic perspective that communism was naturally the only way people could be governed (29). The animosity between t he nationalist and the communists compelled the nationalists to consolidate support from the Taiwan and the US government, to defeat the communist group. In addition, the pre-cultural revolution of China was aimed at challenging the male dominance in Chinese society. Women had no option of deciding their position in society because it is the male who decided everything concerning the lifestyles of the women. The pre-cultural China society was male-dominated given that no woman could become emperor of China during that time. In fact, even the juvenile female Chinese could not be given recognition. The negative effects of civil animosity in China were many. This aspect led to great disparities in the social realm. In this regard, the poor were exploited because of lack of financial power. Democracy was not practiced because the majority was poor; hence, they could not manage to marshal required numbers to oppose the rich. Even the labor unions could not protect the rights of the vulne rable workforce because the industrial leaders were corrupt. However, the oppression of the wealthy became unbearable culminating in reprisals from the workforce, and other groups. They capitalized on politics in their advances. For instance, they used the Communist People’s party to present their grievances to the Authorities. These groups faced oppression of different forms like prejudice and social segregation and discrimination. The emphasis of a class society was also a means of oppression and exploitation, especially in their workplaces (Â  Yimou, 25). The unskilled and the skilled Chinese people were discriminated, and their work was not recognized. On the other hand, women were required to take up only housework and other related domestic chores. Moreover, there arose the aspect of socialism which was also a tool of oppression of the poor. This meant that survival was guaranteed only for the elite. The understanding of the oppressors was that competition was warrante d in order for the social and financially fit people to survive while the poor forever remained in anguish and agony. In this regard, any support for the poor from the government side was highly criticized by the high social class people. This implied that it was the wish of the poor to remain in their low social status. However, the farmers who were also oppressed were discouraged by their fellow Chinese

Case studies (local private college ) Essay Example | Topics and Well Written Essays - 750 words

Case studies (local private college ) - Essay Example The college does not receive any direct financial assistance from the federal government, but many of its students receive financial assistance in the form of Pell Grants, Direct Student Loans, and other federal student loans. Enrollment at the college is approximately 52% male and 48% female. Women's athletics teams at the college first reached varsity status in the early 1970s and continued to expand in number throughout the 1970s and 1980s. Women's softball was elevated from club to varsity status in 1985. Currently, women comprise approximately 39% of the athletes participating in varsity sports. After the budget cuts take effect, it is expected that women will comprise 38% of the college's participating varsity athletes. Since the announcement of the college's budget cuts, five of the thirteen members of this year's women's softball team have announced that they intend to transfer to other colleges. Although the men's swim team is among those teams that the college intends to el iminate, the women's varsity swim team, which has over 25 members, will be retained. 1. 1. Is the college subject to the requirements of Title IX (does it receive federal financial assistance) If so, is its athletic program subject to the requirements of Title IX Title IX protects people from discrimination based on sex in education programs or activities that receive federal financial assistance. Title IX states "No person in the United States shall on the basis of sex, be excluded from participation in, be denied the benefits of, or be subject to discrimination under any educational program or activity receiving federal financial assistance." Title IX, in relevant part, prohibits all public and private colleges and universities that receive federal funding from discriminating on the basis of sex in their intercollegiate athletics programs. Since most colleges and universities receive federal funds-most commonly through financial aid to students-nearly all must comply with Title IX (Education, 2007). Thus here, the athletic program subject to the requirements of Ti tle IX. 2. Has the college complied with Title IX's requirement that it effectively accommodate the interests and abilities of women students Title IX does not require identical athletics programs for males and females. Under Title IX, one team is not compared to the same team in each sport. OCR examines the total program afforded to male student-athletes and the total program afforded to female student-athletes and determines whether each program meets the standards of equal treatment. Title IX does not require that each team receive exactly the same services and supplies. Rather, Title IX requires that the men and women's program receive the similar/comparable level of service, facilities, supplies and etc. Variations within the men and women's program are allowed, as long as the variations are justified on a nondiscriminatory basis. Here, based upon the percentages presented in the Problem, 18, there appears to be no violation of Title IX. 3. On which of OCR's three "benchmarks" for measuring effective accommodation of student athletes' interests and abilities might the college base its defense What arguments could the college raise under each The issue here is a relatively simple one to wit:

Examine how the development of the religion in Canada was benefited Essay

Examine how the development of the religion in Canada was benefited from the Act of Multiculturalism - Essay Example (Ember et al, 2005 p 445) Hinduism as a form of religion is comprised of the history of the Indians and thus there is no any belief or practice of the Indians that can be rejected or negated. The Hindu subscribe to the idea no old ideas or practices can be eliminated or transcended .The old ideas are practiced together with the more recent ones. Among the Hindu, divinity is respected and worshipped in its manifestation without any prejudice. The act of doctrine tolerance is ranked high among the Hindu when compared to other major religion. Therefore, a Hindu may worship non-Hindu gods and still remain a Hindu. The dispute between the Hindus who are monotheism and those that are polytheism do not divide the worshippers because they are seen as not being important in Hinduism. (Ember et al, 2005 p 445) Hinduism unlike other main historical religions, its emergency is not attributed to specific founder or a specific year of origin. Hindus usually trace their traditions back to the Veda which is a spiritual revelation that has no specific year of beginning and which governs everything that was spoken by seers at the beginning of the cycle of the universe. The Hindu for centuries never attempted to define the essentials of Hinduism not until they were challenged by Buddhists, Muslims or Christians. Traditional Hinduism sees no difference between the secular and the sacred, no significant variations between culture and religion and the separations of religious rituals from the normal daily activities. The Hindu also, lacks a common creed which must be believed in. Initially, subscription to Hinduism was limited to Hindu people who had been born within the Hindu family and the religion ideologies stated one could not cease to be a Hindu especially if one was born a Hindu. This initially held principle has only changed of recently .Membership to Hinduism

Analytical report based on an case study about IT project management Essay - 1

Analytical report based on an case study about IT project management - Essay Example Casa XXI was the resulting company with its three partners specifically created for Alvalade Stadium Complex. Casa XXI had immense experience of catering since decades. As per agreement Casa XXI got right to serve 9 avenues including Prestige, Corporate Club, Sports 21, Restaurant Casa XXI, Cafeteria, Cafà © for employees, Lodges, Kiosks, Bars and walking sales persons. Managing and exploiting revenue from these avenues was not a piece of cake and neither Casa XXI was ready to go traditional. So, Casa XXI decided to go for a new electronic system which was an important innovation. This innovative system used pre-paid cards to pay for sales. These pre-paid cards had a unique serial number which was to be identified by a scanner. The scanner could examine the card status and recharge money to the card. Interesting aspect was its expiration in which card could be used many times. The main objective of this system was to get rid of the traditional cash system which was more time consumi ng. The new innovative system could serve many customers in shorter time hence productivity was expected to be enhanced. The innovative system used a central database to save information of all cards and sales. In this innovative system when a consumer made a payment by the card, the scanners were to track card holder’s information and money in the card. After which sale was to take place or the money could be debited accordingly. The system was further subdivided into two units. First unit was operated by the front office responsible for interacting clients while back office unit was specified for inventory management whereas information of both system was recorded on an external database. So, the expected target of this innovative system was to create a well-established electronic system of payment which could revolutionize the sales at Alvalade Stadium. Casa XXI massively publicized their innovative system

International Political Theorie Coursework Example | Topics and Well Written Essays - 4500 words

International Political Theorie - Coursework Example Everyone ue theorie--whether he or he know it or not--and diagreement about policy uually ret on more fundamental diagreement about the baic force that hape international outcome. Take, for example, the current debate on how to repond to China. From one perpective, China' acent i the latet example of the tendency for riing power to alter the global balance of power in potentially dangerou way, epecially a their growing influence make them more ambitiou. From another perpective, the key to China' future conduct i whether it behavior will be modified by it integration into world market and by the (inevitable) pread of democratic principle. From yet another viewpoint, relation between China and the ret of the world will be haped by iue of culture and identity: Will China ee itelf (and be een by other) a a normal member of the world community or a ingular ociety that deerve pecial treatment (Necati , 447-477) In the ame way, the debate over nato expanion look different depending on which theory one employ. From a "realit" perpective, nato expanion i an effort to extend Wetern influence--well beyond the traditional phere of U.. vital interet--during a period of Ruian weakne and i likely to provoke a harh repone from Mocow. From a liberal perpective, however, expanion will reinforce the nacent democracie of Central Europe and extend nato' conflict-management mechanim to a potentially turbulent region. A third view might tre the value of incorporating the Czech Republic, Hungary, and Poland within the Wetern ecurity community, whoe member hare a common identity that ha made war largely unthinkable. Where Are We Coming From The tudy of international affair i bet undertood a a protracted competition between the realit, liberal, and radical tradition. Realim emphaize the enduring propenity for conflict between tate; liberalim identifie everal way to mitigate thee conflictive tendencie; and the radical tradition decribe how the entire ytem of tate relation might be tranformed. The boundarie between thee tradition are omewhat fuzzy and a number of important work do not fit neatly into any of them, but debate within and among them have largely defined the dicipline. Realim Realim wa the dominant theoretical tradition throughout the Cold War. It depict international affair a a truggle for power among elf-intereted tate and i generally peimitic about the propect for eliminating conflict and war. Realim dominated in the Cold War year becaue it provided imple but powerful explanation for war, alliance, imperialim, obtacle to cooperation, and other international phenomena, and becaue it emphai on competition wa conitent with the central feature of the American-oviet rivalry (Daniel , 111-128) Liberalim The principal challenge to realim came from a broad family of liberal theorie. One trand of liberal thought argued that economic interdependence would dicourage tate from uing force againt each other becaue warfare would threaten each ide' properity. A econd trand, often aociated with Preident Woodrow Wilon, aw the pread of democracy a the key to world peace, baed on the claim that democratic tate were inherently more peaceful than authoritarian tate. A third, more recent theory argued that international intitution uch a the International Energy Agency and the

Analytical report based on an case study about IT project management Essay - 1

Analytical report based on an case study about IT project management - Essay Example Casa XXI was the resulting company with its three partners specifically created for Alvalade Stadium Complex. Casa XXI had immense experience of catering since decades. As per agreement Casa XXI got right to serve 9 avenues including Prestige, Corporate Club, Sports 21, Restaurant Casa XXI, Cafeteria, Cafà © for employees, Lodges, Kiosks, Bars and walking sales persons. Managing and exploiting revenue from these avenues was not a piece of cake and neither Casa XXI was ready to go traditional. So, Casa XXI decided to go for a new electronic system which was an important innovation. This innovative system used pre-paid cards to pay for sales. These pre-paid cards had a unique serial number which was to be identified by a scanner. The scanner could examine the card status and recharge money to the card. Interesting aspect was its expiration in which card could be used many times. The main objective of this system was to get rid of the traditional cash system which was more time consumi ng. The new innovative system could serve many customers in shorter time hence productivity was expected to be enhanced. The innovative system used a central database to save information of all cards and sales. In this innovative system when a consumer made a payment by the card, the scanners were to track card holder’s information and money in the card. After which sale was to take place or the money could be debited accordingly. The system was further subdivided into two units. First unit was operated by the front office responsible for interacting clients while back office unit was specified for inventory management whereas information of both system was recorded on an external database. So, the expected target of this innovative system was to create a well-established electronic system of payment which could revolutionize the sales at Alvalade Stadium. Casa XXI massively publicized their innovative system

Gloal corporate strategy Essay Example | Topics and Well Written Essays - 3000 words

Gloal corporate strategy - Essay Example It has been estimated that Asia will witness the highest growth in the retail food market. To become market leaders, Walmart, Carrefour and Tesco have adopted several innovation strategies which have ultimately helped them to become global leaders. Walmart’s growth under the leadership of Lee Scoot needs special mention as the company has made significant breakthroughs after he became the company’s CEO in 2000. Kapner S., February 2009, Changing Of The Guard At Wal-Mart, Cable News Network: A Time Warner Company, [Online], Available: http://money.cnn.com/2009/02/17/news/companies/kapner_scott.fortune/index.htm, [2 May 2009] 21 The Unending Woes Of Lee Scott, January 2007, Cable News Network: A Time Warner Company, [Online], Available: http://money.cnn.com/magazines/fortune/fortune_archive/2007/01/22/8397972/ , [2 May 2009] 23 Carrefour has grown to become one of the global food retail giants by expanding both domestically and internationally. It started off by entering into joint ventures with the local companies. The company was the first to introduce the concept of hypermarkets and its first international foray was marked by setting hypermarkets in Brazil in the year 1975. (Holtreman A, n.d). Carrefour and Promodes merged forces in 1999 to form the largest food retailer within Europe. This merger made them the second largest global retailer with their presence stretched to cover almost 26 countries. (Merger Carrefour – Promodà ¨s, n.d.) This merger promised to have an overall beneficial effect on the business of the two merged entities. The aftereffects of the merger were supposed to benefit the stakeholders of the company at large. Suppliers would be able to reap the advantages of increased export opportunities and customers would be able to get their hands on an array of new products. This deal was mainly drafted by Carrefour to save itself from falling prey to Walmart, the leading US food retail giant, as the latter

Laid-Back Parenting Essay Example for Free

Laid-Back Parenting Essay Erin Zammett Ruddy wrote the article â€Å"The New Laid-Back Parenting† where she identifies whether a parent can exercise laid-back parenting efficiently in a hover-parenting culture and not take it to the extent of neglect. Practicing laid-back parenting has its challenges where it is tempting for the parent to snap back into an overly involved mode. Some people who do not practice the laid-back parenting method may frown upon it. The author presents an interesting perspective on how the use of a less hovering approach to parenting allows a child to be independent, confident and resourceful individuals in the future. â€Å"The New Laid-Back Parenting† article demonstrates that over-involved parenting can have a negative influence, later on in a child’s life. Hence, the child is not able to handle certain situations on their own without the help of their parents trying to do everything for them. Subsequently, the child is completely dependent on their parents for decision making and other issues. This is in contrast to the laid-back parenting approach where it encourages a child to think and do things independently, to a certain extent. The article explains how a parent can live a balanced lifestyle which involves being a parent, spouse and enjoying leisure at the same time. Also, the article gives an illustration of when the use of laid-back parenting has gone too far by the parent. Given these points, the author seems in favor of laid-back parenting as being the most fit, when raising a child. Early on in the article, the author provides quotes from historian Pamela Haag Ph.D. Haag states, that parenting, Its something you do intensively, rather than a status you have† (Ruddy, 2013). This source is reputable  because it is coming from someone who has their PhD in cultural history, who most likely spends years studying the role of a parent in various cultures. This statement relates to the author’s topic and serves as a support to the argument which makes it relevant and consistent with the article. Another fact that the author mentions is, â€Å"Indeed, a new study at the University of Mary Washington found that over-involved parenting, which can extend well into young adulthood, may even be damaging long-term†(Ruddy,2013). The source that the author uses is credible due to the fact that the study was done at the Washington University. However, if the author had included a few more Universities that have conducted the same study and arrived at a simil ar conclusion that hovering parenting results in negative effects on a child’s life, it would create more proof for the article. Moreover, the author provides the evidence that over-involved parenting is least effective when raising a child. Overall, the author’s use of facts re-enforces and supports the article stance on laid-back parenting. An opinion is clearly stated, when the author explains that â€Å"‘Parent’ is a verb rather than a noun today(Ruddy,2013) This opinion enforces the idea and function of what parenting is by emphasizing and comparing the role of parenting in the author’s point of view. The explanation gives support that parenting is a responsibility. Also, â€Å"Less parenting means more ‘you’ time† is an outlook the author uses to convey a balance life of being a parent. Still, it seems as if the author uses laid-back parenting as a convenient way to do other things, other than being a parent. Thus, the author appears to be somewhat selfish in her thoughts. Nevertheless, the opinion is supported by how less hovering results in more time to do other activities in her life. Also, the points of view provided by parents who practice laid-back parenting functions as an opinion and provide support for the article. However, this seems bias because the author did not include the views of parents who do not practice laid-back parenting. In all, the author expresses her view points and how beneficial it is to promote less over-involved parenting. In conclusion, the author relates her idea of parenting and lean towards laid-back parenting as being the most effective method when raising a child.  The author believes that this type of parenting will have a positive impact on children as they progress into adulthood. A Less hovering parenting style results into sheer benefits for both the parent and child. As a result parents have more time to incorporate other activities in their lives while the child is learning to face life challenges independently and efficiently. Reference RUDDY, E. (2013). THE NEW LAID-BACK PARENTING. Parenting School Years, 27(6), 47-48

Analysis of Changes in Wage Rates in India

Analysis of Changes in Wage Rates in India CACP – The data source which is an important source for wages in rural India unfortunately does not publish the wage data from these studies. The cost of cultivation scheme collects data from the selected household at regular intervals on all aspects of farm business. The valuation of human labor has always been a problematic issue for the CACP. There is however a number of limitations associated with this data such as lack of data for many crops, problem in aggregating the data from the state level, unavailability of data at the state level etc. The four reference points have been used to look at a change in the wage rate. However, the choice of reference points in the study have been limited to the years 1983 and 1987-88 in the 80’s and 1993-94 in the 90’s. AWI Wage Rate: It is the most widely used source for analyzing trends in wage rate for rural India. However, one given problem noticed by the researcher with respect to AWI is the time lag in the data and the method of aggregating all the data for th states and all India level. There were many studies performed to check the average wage rate of labourer in different parts of India by many previous researchers. However in all these studies used simple average of wage rates in different months to arrive at the annual figures. Also, all these studies used population of agricultural labourers’ from the census as weights to arrive at the wage rate. The average AWI wage rate is 30-40 percent higher as compared to the RLE/NSS estimates of wage rates. It was also studied that the AWI wage rates were found to be marginally upwards biased as compared to the FMS estimates of wages. A look at the wage trends from AWI since 1980-81 suggests that the wage rates have generally been higher in Punjab, Haryana, and Kerala as compared to the other states in the 80’s. However, by the end of 1990, Gujarat and West Bengal have seen to have made a significant contribution and is closer to the traditional high wage rates. Rajasthan, on the other hand which was closer to the traditional high wage rates has fallen behind and is considerably lower than Kerala, Punjab and Haryana. The states on the lower ends of the wage rate are Orissa, Bihar, Madhya Pradesh, Maharashtra, and Andhra Pradesh. Kerala’s wage rate is found to be three times those in Orissa and in Punjab and Haryana they are twice the wage rate in Orissa. Wages have continued to grow in all three time periods but there was a significant slowdown in the wage rate during the period 1987-88 and 93-94. For the period 1987-88 to 1993-94, which also included the year of the financial crisis and the conseque nt economic reforms, wage rates show a deceleration in almost all the states as well as the all India level. This decline in the growth of wages is sharper for Andhra Pradesh, Assam, Bihar, Gujarat, and Karnataka. Wage trends from CACP – In the study it was found out that this wage rate had been created by aggregating over crops using crop specific weights for individual states. Wage rates from CACP are generally found to correlate well with the AWI series in spite of the differences in methodology of collection of data. In fact, for both 1983 and 1987-88, wage rates from CACP show a very high correlation coefficient of 0.95 with the AWI wage rates. It was also analyzed in the study that wage rates from CACP show better growth rates in 1987-88 and 1993-94 as compared to the AWI series. Rajasthan turns out to be an exception which showed markedly improved wage rates as showed by AWI wage series. Even for other states, CACP does not show as sharp a deceleration as AWI. Maharashtra on the other hand shows sharp deceleration in the wage rate during 1987-88 and 1993-94. NSS – These wage rates were found to be statistically more significant and reliable than that of AWI or CACP because of their consistent and superior sampling framework but they also allow for a much higher level of disaggregation. The wage rates reported by NSS for males for agricultural occupations are considerably lower than the wage rates reported by AWI. It was further studied that the NSS rates were very well correlated with the rates of AWI series with a correlation coefficient of around 0.9 in the 1980’s, 0.87 in 1993-94 and 0.95 in 1999-00. However, again for most states there was a deceleration in the growth rate during the next sub period that is, between 1987-88 and 1993-94. Except for the state of Gujarat, deceleration was seen for almost all states. Gaps between agricultural and non agricultural wages narrowed down considerably in Punjab and Rajasthan. West Bengal and Karnataka were found to be the states having the lowest divergence between agricultural a nd non agricultural activities. Comparison between agricultural and non agricultural activities gender wise was also performed. It was analyzed that the growth rates in these activities in males suggested that in 1983-84 and 87-88 agricultural wages grew faster than non agricultural wages. For females, however non agricultural wages grew faster than agricultural wages. RLE/ALE wage trends – RLE uses a subset of households from the NSS employment and unemployment quinquennial surveys. The household types are either self employed in agriculture, non agriculture, agriculture labour, other labour and others. A comparison of the wage rate from the NSS and the RLE reveal that there is a high degree of correlation between them especially in the 1990. This is true not only at the all India level but also at the state level. For the period from 1983-1987, growth rates from RLE were shown to be 70-80 percent higher than the ones shown by the NSS series in the study. The growth rate of the NS were similar to those studied by AWI or CACP for many states, however the RLE suggests growth rates higher than any of these. Further it was also studied that the growth rate of wages in agriculture are much higher than those suggested by NSS or CACP or AWI. There was also an inter range comparison done in this study to check the difference in wages under the RLE scheme. It was analyzed that comparing the 1977 RLE scheme to that of 1983, real wage rates declined by almost 10 percent for the latter. Such a decline in wage rate is not accompanied by any other wage estimates including those from NSS. WRRI Wage rates from eleven agricultural operations and seven non agricultural operations. For wage rates for agricultural operations, simple average of sowing, transplanting, weeding, harvesting, winnowing and threshing was taken as the representative wages. The analysis in the study was based for the years 1990-2000 and 2002-03. It was studied that the wage rates from WRRI for agriculture than those reported by NSS and RLE for males and almost 60 percent higher for females. WRRI estimates of wage rates are found to be closer to the CACP or AWI estimates because of similarity in methodology and sources. WRRI is the only estimate that is available after 1999-00. It was further analyzed in the study that the wage rates between male and female for agricultural occupations as well as non agricultural occupations have grown in real terms. Coming to the state wise analysis, Bihar and Orissa are the states that saw the highest growth rates of wages for both males and females. The other st ate that achieved close to 10 percent per annum growth rate of wages is Kerala. Apart from Kerala, the other two states – Andhra Pradesh and Tamil Nadu saw slower growth rates of wages. Uttar Pradesh having a large concentration of poor and rural labourers witnessed growth rates of less than two percent in both agricultural and non agricultural operations.

Computer Security Essay -- Technology Papers

Computer Security In the last few decades, the world saw a revolution in information and technology, and the main factor of this revolution was the computer. Computers made life easier for millions of people all over the world, especially in the United States, where the latest innovations in the field of computers take place. Information circulates with extreme speed, and a person with a computer and access to the Internet can follow what is happening on Wall Street, even if he is thousands of miles away from there. Any user of this network can buy, sell, and make money by staying in his bed. But in order to guarantee the stability of such a world where a lot of transactions occur, billions of dollars are at stake, there must be some kind of security to regulate the traffic of information between millions of interconnected computers. Even if computer security techniques are more and more effective, there are still threats to my security as a user of the Internet. It would be interesting to understand the concept of computer security and its techniques before explaining what are the threats to computer security, and finally looking to its application on the Internet. Computer security has been important since the creation of the Internet. Still, Steven L. Shaffer and Alan R. Simon describe it as being one of the largest difficulties with which the computer technology industry is confronted today (21). Computer Security is â€Å"the generic name for the collection of tools designed to protect data and to thwart hackers† (Stallings 1). It is important to guarantee such security to protect data while it is transmitted. When there are many computer security services in a network, the transmission of information has to be ... .... 2001. *Macgregor, Robert S. www.Security. Upper Saddle River, NJ: Prentice Hall, 1996. *Protos, John. †The High Cost of Cyber Crime.† Business Week 26 Mar. 2001: 52. *Shaffer, Steven L., and Alan R. Simon. Network Security. Boston, MA: AP Professional, 1994. *Stallings, William. Network and Internetwork Security. Englewood Cliffs, NJ: IEEE P, 1995. *Wayner, Peter. Digital Cash. Boston, MA: AP Professional, 1996. *â€Å"What is Hacking?† Online Posting. 17 Mar. 1998. 08 Apr. 2001. Available: http://www.hackers.com/html/hdcfaq.html#008. *â€Å"Why Cryptography is Harder Than it Looks.† Online Posting. 24 Mar. 2001. Counterpane Systems. 8 Apr. 2001. Available: http://www.counterpane.com/whycrypto.html. *Willing, Richard, and Salina Khan. â€Å"Search for Love Bug Creator Narrows Female Suspect in Philippines may be Arrested Today.† USA Today 8 May 2000: 1B. Computer Security Essay -- Technology Papers Computer Security In the last few decades, the world saw a revolution in information and technology, and the main factor of this revolution was the computer. Computers made life easier for millions of people all over the world, especially in the United States, where the latest innovations in the field of computers take place. Information circulates with extreme speed, and a person with a computer and access to the Internet can follow what is happening on Wall Street, even if he is thousands of miles away from there. Any user of this network can buy, sell, and make money by staying in his bed. But in order to guarantee the stability of such a world where a lot of transactions occur, billions of dollars are at stake, there must be some kind of security to regulate the traffic of information between millions of interconnected computers. Even if computer security techniques are more and more effective, there are still threats to my security as a user of the Internet. It would be interesting to understand the concept of computer security and its techniques before explaining what are the threats to computer security, and finally looking to its application on the Internet. Computer security has been important since the creation of the Internet. Still, Steven L. Shaffer and Alan R. Simon describe it as being one of the largest difficulties with which the computer technology industry is confronted today (21). Computer Security is â€Å"the generic name for the collection of tools designed to protect data and to thwart hackers† (Stallings 1). It is important to guarantee such security to protect data while it is transmitted. When there are many computer security services in a network, the transmission of information has to be ... .... 2001. *Macgregor, Robert S. www.Security. Upper Saddle River, NJ: Prentice Hall, 1996. *Protos, John. †The High Cost of Cyber Crime.† Business Week 26 Mar. 2001: 52. *Shaffer, Steven L., and Alan R. Simon. Network Security. Boston, MA: AP Professional, 1994. *Stallings, William. Network and Internetwork Security. Englewood Cliffs, NJ: IEEE P, 1995. *Wayner, Peter. Digital Cash. Boston, MA: AP Professional, 1996. *â€Å"What is Hacking?† Online Posting. 17 Mar. 1998. 08 Apr. 2001. Available: http://www.hackers.com/html/hdcfaq.html#008. *â€Å"Why Cryptography is Harder Than it Looks.† Online Posting. 24 Mar. 2001. Counterpane Systems. 8 Apr. 2001. Available: http://www.counterpane.com/whycrypto.html. *Willing, Richard, and Salina Khan. â€Å"Search for Love Bug Creator Narrows Female Suspect in Philippines may be Arrested Today.† USA Today 8 May 2000: 1B.

Professionalism Essay

Professionalism is the first thing that is being notice when you are in a workplace. Professionalism is defined as a set of characteristics and skills. Being in a medical health field, or in any business that requires interactions, professionalism is expected when working with clients. For me, aside from having a profession which is I define as a job, professionalism for me is having all the positive attributes and expertise that you can use when you are in a work environment. Clients often see your professionalism first before they open up to you, some of them will treat you the way you treat them. Being respectful and treating others equally will make client feels that they are not being put aside. Show warm and friendliness toward the client will also make them feel comfortable and at ease with this attitude clients will likely to open up to you and share their worries where you can address their worries and problems quickly. Appearance also play an important role in professionalism, having a great image will give the clients great impressions about you. When you say you work in a medical field, people will begin to think that it’s about cleanliness, with this in mind people will expect you to appear neat and clean. Your facial appearance and dress should reflect the professionalism it takes to do your job and be neat, and clean, and suitable for the workplace. Your appearances portray how professional you are, so wearing the right attire for a workplace is a must, this way clients will be more willing to work with you. Skills are also a big part of being professionals. Employee now days seek employers that have a lot of skills that can be contributed to a workplace and make the workplace works easier and workloads lesser. Aside from being able to speak English well to communicate, organizational skill is one of the skills that being look upon from one person. Having the ability to prioritize tasks, distinguishing tasks to be accomplished, and working excellently with co-worker to accomplished all the works in a work situation will reduce the work in a busy office and keeping the flow of work at a pace that is not chaos. Most work of an MOA in the office is being done in the computer. Computer skills, keyboarding skills, and having the knowledge of using the database that being used for billings and transcription will be your advantages when working in this field. Many hospitals and offices are now turning into computerized environment to reduce too much paper being put into a record. As a Medical office administrations professionals we should all have these characteristics and skills and most importantly we should do our job confidently. As long as we all have these things on us, our work as a Medical office administrator will be easier and we will be able to give our clients a better services and we can make our clients happier.

HRM Strategy in a case study on IKEA Essay

1. Introduction The human resource function has undergone throughout its history major transformations and evolutions. Concepts managements have given way to others as imposed by the globalisation of markets and by a workforce more educated, more fluid and diverse. In this context of internationalisation, companies are anxious to take their benefit so as to seek the most advantageous model management. United States speak of mobilising and unifying model of human resources. Warner (2011) discusses about Japanese model that focuses on employee participation in company decisions. Finally, the Swedish model which works on the establishment of principle of consensus. Each of these models present advantages and disadvantages, strengths and weaknesses. What is the most interesting model of human resources management and more profitable for the organisation? , the models are they transferable and applicable to cultures and different to hand out? Can a European model applied in North America and a Japanese model in Europe? What adaptation the organisation needs to do to succeed in setting? To answer this question, I have chosen the Swedish multinational IKEA. The organisation was founded in 1943 by its principal designer Ingvar Kamprad in southern Sweden. The organisation has more than 325 stores, present in 44 countries around the world, and employ more than 140,000 employees. In Quebec, IKEA opened its first store in 1982 in town centre of Montreal, in 1986 it then moved to Cavendish in the borough of Saint-Laurent employed 13,000 people in North America. The main activity of the company is selling furniture and interior designs; it is considered a world leader in this niche market. In this analysis I will try to define the concept model of human resource management IKEA adopted for its store in Quebec, understand the reasons for this choice and the success of this model. Present the functions of HRM in this organisation and its evolution through the years and finish with a personal reflection on practice and business strategy in this area The IKEA case study discusses the aspects of HRM and the approaches adopted by IKEA focuses on nurturing and developing staff. In aiming to achieve corporate goals, this initiative has enable growth, innovation, creativeness and success of the organisation. In this case study, the analysis will focus on recruitment and selection, training, work organization and labour mobility. 2. HRM practices and systems in place In order to achieve strategic objectives and goals defined by the founder Ingvar Kamprad, IKEA made changes in its human resource practises and culture at work. The organisation has put in place a human resource management initiative that makes it have a competitive advantage. Furthermore IKEA human resource management style is largely described as incorporating the HRM strategy with its corporate strategy. In terms of the organisation’s business strategy, it can be analysed that it has evolved for the past few years, where new strategy such as innovative and creative designs has taken place for more affordable cost. 3. Measurement of Managers performance The Swedish company, committed towards its working time frames restructuration, identified as an essential point to measure its managers’ performance. â€Å"A senior officer should not be a doer, but a team coordinator,† says Marc Chousseaud, human resources director who is one of the twenty leaders judged. This assessment tool allows everyone to become aware of defects management. Inaugurated in March during a training session of leadership in management, the tool – called Index Coordination Skills – is part of the Anglo-Saxon Team Management System method. It comes in the form of a questionnaire with 66 points relating to 11 skills that the manager must show. Each of the twenty managerial staff was initially self-assessed and distributed the questionnaire to teammates at headquarters and in stores. The Director of Human Resources has been judged by his collaborators (five person) and nine human resources managers, all done in an anonymous way. This cross -evaluation overcomes personal conflicts and obtains the most objective assessment possible. 4. The eleven skills measured for executives Ikea The 360 ° evaluation of Ikea frames method, used by Team Management System, determines eleven core competencies: ââ€" ¶ Listening: the manager must listen before judging; ââ€" ¶ Communication: he regularly exchanges with members of the team; ââ€" ¶ Troubleshooting: it is available and ability to overcome obstacles; ââ€" ¶ Team development: it provides the balance of talents; ââ€" ¶ Division of labour: it distributes tasks based on skills and individual preferences; ââ€" ¶ Confidence: it promotes respect, understanding and trust; ââ€" ¶ Delegation: he says the work he should not personally perform; ââ€" ¶ Exemplary: he leads by example and is accepted by the team high standards of quality; ââ€" ¶ Determination of objectives it sets exciting challenges and exerts a constant pressure to improve performance; ââ€" ¶ Coordination: coordinate effectively and meet all the members of his team; ââ€" ¶ Participation: it involves team members in solving important problems. Companies are often considered unsatisfactory, both from the point of view of employers and that of employees as well. The definition of evaluation criteria also depends on the type of management practiced in the organization. In this context, the evaluation of the individual is in achieving or not objectives fixed. Schematically, the performance of an individual can be evaluated along three dimensions, Work done; Results of its work; and Personal characteristics. 5. Motivation Factor The motivation of people at work is a key factor in business success. The meaning of work and character of obligation are dependent on its culture, structures, social, and economic realities. The involvement and motivation cannot be obtained everywhere and always by the same means. Theories and methods used by business leaders and managers to boost motivation date forty years , while the conditions of work, nature of work and skills as well as the socio- economic conditions have changed considerably and change again. Mitchell (1982) states that to engage in certain specified behaviours, motivation is considered as the level which is chosen and desired by an individual, however Steers and Porter (1991) defined motivation to be a number of forces that are co-related thus causing people to have certain way of behaviour. The third strategy is the management of human resources in the store. 75% of employees work in IKEA stores. The primary role of the store management is to recruit, train and retain motivated employees. There are a number of key factors to effectively manage a store: a turnover rate of the size of the order of 20 % per year, a proportion of full- time should not be less than 40 % or 50 % of the workforce , a maintenance management staff for five years in the ideal, and in any case for at least three years . Depiction from IKEA case study highlights that the IKEA’s SHRM policies have led to significant fall in employee turnover, i.e. fall in employee turnover to 6% in 2001 to 56% in 2002, and only 35% in 2003, thus prominence rise drift in motivation of the employees to be a part of the organization above longer durations than before. Strong leadership, a focus on skills development and planning staff are key to the management of human resources. Maslow hierarchy of needs IKEA case study has showed the use of motivational techniques ranging between Maslow’s hierarchy of needs i.e.: psychological, security, safety, affection, self-esteem, and self-actualisation. 6. Conclusion IKEA’ culture notably values the employees; by providing enriched job the organisation promotes engagement amongst employee. IKEA should use effective communication as a mean to promote high level of engagement and interaction. Different methods of communication can motivate from low level to high level of interaction. In IKEA case study an important aspect has been noticed that is none other than the use of communication. Communication eventually improved the relationship between employees with employers and enhanced the ambition in terms of motivation and commitment of the staff towards the company. In conclusion, for IKEA to be successful on a long run, they need to promote employee engagement and interest towards the organisation. In order to generate and engage workforce, IKEA need to value its employees and show them that they genuinely care for their well-being. IKEA has proved about its concerns about care and employee flexibility where this initiative has contributed greatly in engaging employees in the organisation. References: Baron, A. and Armstrong, M., (2007), â€Å"Human Capital Management, Achieving Added value Through People†, Kogan Page Limited London Amstrong, M., (2008), â€Å"Reward Management: A handbook of Renumeration Strategy and Practice†, Kogan Page Limited London Barney, J., (1986), â€Å"Organizational Culture: Can it be a source of sustained competitive advantage?† Academy of Management Review, Vol. 11, No. 3, Pg. 656-665 Attridge, M., (2009), â€Å"Measuring and Managing Employee work Engagement: A review of the Research and business literature†, Journal of Workplace behavioural health, Pg. 383-393 Corone, B., (2012), â€Å"Research in Management†, Eramus Institute of Management PhD Series, Netherlands Clutterbuck, D., (2004), â€Å"Making the most of informal mentoring: A positive climate is key†, Development and Learning in Organizations; Vol. 18, Issue: 4 Sarah, C., (2010), â€Å"The essential to employee engagement: better performance through staff satisfaction†, Kogan Page UK Douglas, et al., (2004), â€Å"The psychological conditions of meaningfulness, safety and availability and the engagem ent of human spirit at work†, Journal of Occupational psychology, Pg.11-37 Gerhart, B. & Fang, M., (2005), â€Å"National culture and human resource management: assumptions and evidence†, International Journal of Human Resource Management, Vol. 16 Issue 6, Pg. 971-986 Duncan, C., (2001), â€Å"The impact of two decades of reform of British Public Sector industrial relations†, Public Money and Management, Pg. 27-33 Gunnigle, P., Heraty, N., & Morley, M., (2006) â€Å"Human Resource Management in Ireland†, Gill & Macmillan, 3rd Edition Dublin Gibb, S., (1994), â€Å"Inside corporate mentoring schemes: the development of a conceptual framework†, Personnel Review, Vol. 23 No. 3, Pg. 47-60 Kelly D. & Albert J., (2005), â€Å"Maslow: man interrupted: reading management theory in context†, Management Decision; Vol. 43 Issue 10 Hofstede, G., (1991), â€Å"Cultures and Organizations: Software of the Mind, Intellectual Cooperation and Its Importance for Survival†, Berkshire, McGraw Hill Lynch, R., (2003), â€Å"Corporate Strategy†, 3rd Ed, FT Prentice Hall Kinne, N. Et al., (2005), â€Å"Satisfaction with HR Practices and Commitment to the Organisation: Why one size does not fit all†, Human Resources management Journal Amstrong, M., (2006), â€Å"Strategic Reward: Making it happen†, Kogan Page Limited London Rayner, C. and Derek, A., (2009), â€Å"Managing and Leading People† 2nd Edition CIPD London Marchington, M. & Wilkinson A., (2008), â€Å"Human Resource Management at Work, People Management and Development†, 4th Edition CIPD London Rolf, R., (1999), â€Å"Workforce of the future†, Global Business, Pg. 52-57 Murphy, K. & Gosselin, A., (1994), â€Å"The failure of the performance evaluation†, Vol. 19, N ° 3 Amstrong, M., (2009), â€Å"Armstrong handbook of Human Resource Management Practice†, Kogan Page Limited London Web references: Case Study http://www.palgrave.com/business/beynon-daviesbis2e/students/case-studies/IKEA_2nd-edition.pdf http://www.iisd.org/business/viewcasestudy.aspx?id=119 Ikea Case Study .slidesContainer img { border: none } var slideshare_object = { flagging: {"update_url":"https://www.slideshare.net/main/flag?slideshow_id=3204920","is_flagged":false}, user: {"userGroup":"non-member","login":"guest","id":null,"loggedin":false,"name":null,"is_valid_fbuser":false,"fb_userid":null,"is_pro":"false","su":false,"is_test_user":false,"has_uploads":null,"is_li_connected":false,"is_li_auto_created_user":false,"show_li_connect_cta":false,"has_privacy_enabled":null,"li_tracking_url":"https://www.linkedin.com/li/track"}, timer: { start: (new Date()).getTime(), end: '', execTime: '' }, top_nav: { get_url: "/top_nav"}, li_bar: {get_url: "/li_bar"}, dev: false, init: [], feature_flag: [], is_ssl: true, rum_pagekey: "desktop_slideview_embed_code_loggedout", slideshow: { id: 3204920, is_clickgen_enabled: 'false', clickgen_url: '' } }; // // var _jspl = {} _jspl.pageInitTime = (new Date()).getTime(); window._gaq = []; _gaq.push(['_setAccount','UA-2330466-1']); _gaq.push(['_setDomainName', '.slideshare.net']); _gaq.push(['_addIgnoredRef', 'slideshare.net']); _gaq.push(['_setCustomVar', 2, 'document_referrer', document.referrer]); _gaq.push(['_trackPageview', '/embedPlayerView']); (function(){ // google analytics var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 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Determinants of Capital Structure in Pakistan Essay

Capital structure refers to the combination of asset financing from different available sources. Normally the companies have two choices, either to finance the assets from internal source that is termed as retained earnings or from external source that splits into debt and equity. A firm’s capital structure is than the composition of its liabilities. In reality, capital structure of firms may be highly complex and consist of number of sources. These sources start from the retained earnings and ends in hybrid securities. The source of funding a capital is also diversified into short term and long term financing. Modigliani-Miller theorem The thinking of capital structure was initiated by the Modigliani-Miller theorem, proposed by Franco Modigliani and Merton miller. They made two findings under perfect market conditions. Their first proposition was that the value of a firm is independent of its capital structure and the second proposition stated that the cost of equity for a leverage firm is equal to the cost of equity for an un-leveraged firm with addition of premium for financial risk. They extended their analysis by including the effect of taxes and risky debt. Under a classical tax system, the tax deductibility of interest makes debt financing valuable. It means the increase in proportion of debt in capital decreases the cost of capital. And eventually the optimal structure would have no equity at all. Later on it was revealed that the imperfections of real world must be the cause of capital structure relevance to firm value. The trade-off and pecking order theory try to address some of these imperfections, by relaxing the M&M assumptions. Trade-off theory Trade-off theory adds another variable called financial distress in the previous studies and explains that although there is an advantage of debt financing and that reaps from the tax benefit shield. But a time come when the high debt give birth to bankruptcy cost and when the optimal level of capital structure is exceeded than the marginal benefit from the tax shield become less attractive than the cost of financial distress occurred due to debt financing. Therefore there exist an optimal debt and equity combination and companies should follow this optimal level of debt and capital ratio. This ratio is similar within one industry but may be different for different industries. The missing point of this theory is that it doesn’t explain the difference in the optimal capital structure ratio of the same industry. Pecking order theory Pecking order theory tries to capture the costs of asymmetric information. That means the managers of a company has more and complete information about the company than investors. The theory states that company’s priorities their financing sources and prefer internal source of funding to external. The hierarchy of sources is such that whenever company needs new funds it tries to fulfill its requirement first from retained earnings than from debt and raise equity as last resort. The pecking order theory is famous by Myers & Majluf(1984) when they argues that equity is a less preferred means to raise capital because when managers issue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity issuance. The capital structuring plays vital role in the long run financial decisions of the company. In this paper my focus is on debt financing decisions of the company. I have explored why the companies use this source and what are the factors that determine company’s capital structure decision. The capital structure was firstly discussed by Modigliani & Miller in 1958. Modigliani & Miller (1958), the theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. Gay B.  Hatfield (1994), demonstrated that the firms which issues debt are moving toward the industry average from below, the market will react more positively than when the firm is moving away from the industrial average on the basis of this they classified firms leverage ratios as being above or below their industry average before announcing a new debt issue. They test whether this has an effect on market return for share holders and they have founded that the relationship between a firm’s debt level and that of its industry does appear to be of concern to the market. Laurence Booth(2001), finds whether capital structure decisions differ significantly between developing and developed countries or not? He collected data of 10 developing countries by the international finance corporation and use panel data technique for comparative analysis. They found that the variables that are relevant for explaining capital structures in the United States and European countries are also relevant in developing countries. Jorgensen & Tera(2003), stated that there are many, industrial, accounting, managerial and macroeconomic factors that affect the capital structure decisions. They used sample data of capital structure determinants of 700 companies for the Latin American economies for the period 1986-2000. The study concluded that firms are impacted by company fundamental and macroeconomic forces. Deesomsak, Paudya, & Pescetto(2004), explore about capital structure for the Asian pacific countries. The countries discussed in their study are Malaysia, Singapore, Thailand and Australia. The study explores that environmental and operational factors affect the decisions made for capital structure. The study also investigates that financial crisis of 1997 also affect the capital structure organizations. Shah & Hijazi(2004), investigate the performance of non financial firms for the Pakistan perspective. The observed variables for capital structure are debt ratio, size, growth, leverage and profitability. The results show that there is a positive relationship between size and leverage. The growth is negatively correlated to leverage and the study finds consistent relationship between profitability and leverage. Shah & Khan(2007), investigate the relationship between firm fundamental factors and leverage ratios for the period of 1994 to 2002. They used pool regression model to achieve their purpose. The findings show that earning volatility and depreciation variable are not correlated to leverage ratio. The agency theory is lead by growth factor and pecking order theory bear out by profitability variable. The trade off theory is lead by firm’s size. Daskalakisa & Psillaki(2008), investigate the small and medium firms of Greek and French industries for the period of 1998 to 2002. The similar factors of the firms are used in this study because the same capital structure is employed in these two countries. There is a negative relationship among asset structure, profitability and leverage. The study finds that growth of France industry is statistically significant compare to Greek industry market. The study argues that there are firm specific differences among the countries non country factors. Psillak & Daskalakis(2009) studied small and medium size firm’s performance. The capital structure determinants are size, growth, profitability and risk. The results show that small and medium entrepreneurs affect the performance in a same way. The study explore there is a positive relationship between size and leverage and a negative relationship among growth, profitability and risk factors. Dilek Teker(2009), investigate the fundamentals of the capital structure theories, they assumed determinants can be related to find out whether some priori assumed macroeconomic determinants can be related to leverage parameters of interest or not. For this purpose, they conducted an empirical research that covers 42 selected firms traded at the Istanbul Stock Exchange ISE-100 index. Following the developments in the contemporaneous estimation techniques that allow us to use time series and cross section data concurrently, the panel data methodology has been applied to the actual data to compute the leverage ratios for each firm within the time period 2000-2007. From this, they highlight the issue of what properties the leverage ratios have and to satisfy our interest about how can the macroeconomic determinants affect the leverage ratios under various groupings such as tangibility, size, growth opportunities, profitability and non debt tax shields. Our main results return on assets and tangibility of assets have a positive and statistically significant impact on the firm’s leverage ratio, while the ratio of total depreciation to total assets and profit margin on sales seem to have some negative and significant impacts on Firms’ leverage degree. Tugba Bas(2009), worked on determinants of capital structure of small and medium enterprises in emerging markets. They used pooled data for 25 countries obtained from World Bank enterprises survey and applied panel data OLS technique for analysis. They found that tangibility is inversely related with leverage hence opposite for small firms. Profitability follows the pecking order theory and is also negative related. Firm size and GDP growth has positive relation with leverage. Inflation has negative impact on the leverage but interest rates pose positive relationship. Shun-Yu Chen(2011), the purpose of this paper is, to present empirical evidence on the determinants of capital structure and firm value in a newly industrialized country. The firm characteristics are analyzed as determinants of capital structure according to different explanatory theories. The findings of this study suggest that firm size, profitability and asset structure can be considered explanatory variables of capital structure. The firm size, profitability and capital structure affect book value. So the determinants of market value are profitability and firm size. Furthermore the capital structure negatively affects market value in electronic firms, but does not affect market value in non-electronic ones.