Wednesday, September 2, 2020
Ethical Communication For Business JB HiFi â⬠MyAssignmenthelp.com
Question: Talk about the Ethical Communication For Business JB HiFi. Answer: Association review The zone focuses on the key information of the organization including its history and the excursion towards where the business is at the present. Moreover, the area investigates the pieces of the pie constrained by the association of enthusiasm inside the business just as its positioning among different contenders. In that capacity, the business is set in a measurable investigation to figure out which of the numerous ventures order a generous piece of the overall industry inside the business just as the pattern associated with the current market elements. Thusly, an assurance of the monetary presentation my subject of intrigue is made. Other fundamental angles, for example, the possession structure to decide power structure inside a business whether it is controlled by an individual or a gathering. Moreover, we decide techniques of hoisting individuals to the administration level. The physical area and the administrative centers of the venture are examined. Industry outline In this segment, we will deliver the business to which our organization of intrigue has a place. On that light, we take a gander at the key variables influencing the field. On that light, we focus on what impacts they have on the vocations of individuals to decide if numerous players are required or a couple of ventures can fulfill the interest of the items in the market. Being in the retail of customer products, our examination will focus on the significant players to contrast with our exploration business since the greater part of these merchandise are necessities henceforth should be given in colossal volumes in the market which energize numerous financial specialists. The difficulties, accordingly, ought to incorporate the part of rivalry inside the field and how it shapes the market. To help our contentions the cases should be caught up with industry provides details regarding correlation just as the assurance of those with a significant order of the business. Correspondence Strategy The segment talks about business correspondence to the outside world. We consider the systems utilized by associations to upgrade the observation the open holds about them. In that capacity, the spotlight will be founded on reports made and discharged through media to educate the individuals about perspectives they care about or the money related procedures of the endeavors. Then again, the information could be a convincing move to pull in shoppers to utilize a greater amount of their items. What's more, will talk about exceptional correspondence did by a business person to counter adverse exposure. For example, if a powerful individual remarked unfavorably about a business which procedure do they use to clean their name and increase the certainty of the individuals who may have changed their feeling dependent on the formers presentation. Association Overview JB HiFi is an organization in the retail business managing home hardware, cell phones, vehicle sound frameworks, just as computer games. The organization was established in 1974 and was procured by the current proprietors in the year 2000. Under the current proprietors, the organization arrived on the ASX list in October 2003 (DatAnalysis 2017). It runs physical stores and furthermore has an internet shopping stage. As indicated by, (IBISWorld 2016), the greater part of the retailers pay is got past deals to other little scope business visionaries in the business. By mid-a year ago, the organization stores around the landmass were one hundred and seventy-nine (IBISWorld). In that capacity, they are at a preferred position over the contenders because of their size of creation just as foundations. The companys base camp area is at Level 4 in the Chadstone mall, along Dandenong street (DatAnalysis 2017). The organization is going by seven chiefs the sum total of what who have been in the initiative through arrangements. In the current system, the longest-serving part has been in office since 2007 consequently has had a term of 10 years as at now (DatAnalysis 2017). Out of the seven, there is just a single official part the others are non-official (DatAnalysis 2017). The executives are helped by people who are mindful to run diverse significant perspectives influencing the smooth running of the venture. There are eight individuals who remember the secretary and chief for charge of organization funds just as the person who controls data around the whole business. Moreover, there is a chief liable for all advertising tasks completed by the venture just as the product executive whose primary employment incorporate guaranteeing that the wares are in the correct quality just as guara nteeing different principles of their items are met. For activities to move as indicated by the arrangement, there is an individual answerable for the errand just as a tactician and advanced controller who chooses what ought to be permitted inside their online space just as following patterns in the space to make a specialty for the organization inside the extremely serious region. The last individual in the gathering is the chief of the chain of flexibly and the organization arrangements (DatAnalysis 2017). A year ago, (IBISWorld 2016) claims that the organization gathered more than three billion dollars in income which they credited to the colossal market they order. The retailer has made more than 7,000 work open doors for the Australian residents therefore adding to the countrys income (IBISWorld 2017). Industry Overview The business size as per the 2016/2017 money related report demonstrates it remains at one hundred and thirty-7,000 million dollars, 600 and fifty-2,000 (IBISWorld 2017). The business was accounted for to have a turnover development pace of - 0.71(IBISWorld 2017). The quantity of organizations in the business when of the arrival of the report was at 3,000, 800 and eighty-five. Furthermore, the gauge of the pieces of the pie of the organization was assessed to be marginally more than twenty-four percent (IBISWorld 2017). The move that raised the organization to a group of a significant player inside the business was made in November 2016 where they procured Muir Electrical Companys the Good Guys at 800 and seventy Thousand million dollars (IBISWorld 2017). For the home machines, the organization has extended the range just as the items they offer. Thus, the move has altogether prompted a general extension in the whole field. At the point when a significant player in a similar line of business stops to exist, the organizations still ready to work are left at a favorable position. In June 2016, Dick Smith, a venture that created a similar line of electrical merchandise leave the business and it is accepted that the move profited JB HiFi a lot since their clients needed to have another option (IBISWorld 2017). Since the organization is entrenched and they appreciate economies of scale, they can offer lower costs in contrast with different contenders which thusly lead to an expanded number of purchasers leaning toward them (IBISWorld 2017). Having a wide scope of items likewise assumes a significant job in making them a purchaser spot since customers with assorted requirements make a stop at the stores and keeping in mind that looking for what they expected to find out about other product offered thus they can generally return for it. One of the significant difficulties looked by the venture is rivalry from the settled web based shopping spaces (IBISWorld 2017). Correspondence Strategy The part subtleties JB HiFi outer correspondence to draw in the general population and invested individuals about the advancement or vital reaction to issues identifying with them legitimately. The vast majority of the data to the outside world is according to showcasing and reminding them about their items. Moreover, if an organization doesn't educate individuals about their exercises they might be overwhelmed by contenders who remain significant by guaranteeing their quality is heard through official statements. On thirteenth September 2017, the organization made their net benefit after assessment open as it is legally necessary for all the open organizations (DatAnalysis 2017). They guaranteed an ascent of 13.29% which is proportional to one hundred and seventy-2,000,000 dollars, and 400,000. They additionally guaranteed in a similar discharge that incomes gathered from their exercises had ascended by a forty-two percent from the earlier year. On fourteenth August this year, the business discharged its all out outcomes for the monetary reports identifying with the money related year 2017 (DatAnalysis 2017). On the data given to the open remembered refreshing them for the expanded benefit increased because of a greater deals edge of more than five billion up from the earlier year which added up to marginally under four billion. One of the significant perspectives considered while making press declarations is to educate people in general about the adjustment in the board structures or people from specific powerful situations inside the business. All things considered, on sixth April this year, the organization through their CEO declared that the Group CEO of the Good Guys organization, which was consumed by JB Hifi would leave his position and the business too (DatAnalysis 2017). As much as the yearly reports are fundamental inside the arrangement to refresh the general population, it is important to offer people in general subsequent meet-ups of the reports at stretches before the year closes. Hence, the venture discharged a half year report on thirteenth February 2017 declaring that by in a half year the organization had acknowledged development in deals by thirteen percent. Organizations should convey about occasions that ought to be helped out inside their schedule year through their site or the prevailing press. On fifteenth September 2017, the organization reported the yearly investors regular gathering planned for 26th October this year. In the discharge, they have put all the essential subtleties of what is anticipated from the member during and before the set day. There are subtleties highlighted about the scene and the time set for the occasion to evade disarray that could be knowledgeable about nonappearance o
Saturday, August 22, 2020
1984 Book Summary Essay Example For Students
1984 Book Summary Essay The book 1984 was exceptionally intriguing to me since it was the firdt book I have ever perused like it. The book takes palce in London England the state which the fundamental characte rWinston Smith lives is callled Oceania. The Catse System for this nation is the bury party is the most noteworthy, next comes the external party, at that point the paroles are the least class. The setting of the book happens in april. The principle charater of the book is Winston Smith who worked in ther minisrter of ttruth which is where made lies and adulterated the past. All through the book the incredible lion's share of the individuals had telescreeens which traansmitted what of you did or were doing or saying just as transmitting melodies and different things of that nature. The prodominate party was the Party and there Slogans are war is harmony and opportunity is subjugation and obliviousness is quality. There are numerous different priests all through the book which incorporate pastor of Love which keep up lawfulness alsoo there is simply the priest of harmony which worries with war. Additionally the pastor of Plenty which worries about monetary issues. In the start of the book Winston hate s the Party and the pioneer Big Brother since he doesnt like how he treats the individuals who think uniquely in contrast to the Party. Winston beleived that the desire for over setting up the Party was in the paroles since they take up 85% of the nation. Be that as it may, he imagines that they wont rebell until they become still, small voice of their own quality. All through the book Winston runs into a young lady who he has been maintaining a strategic distance from all through the book he accepts that she was a government operative of the idea police and when they at long last run into she gives him a note and it says I love youâ⬠¦Ã¢â¬ ¦ they have numerous gatherings and begin to look all starry eyed at and escape all the magnifying lens. The spot they meet the most is over a shop in a little stay with is without a telescreen they trust him definitely. They meet there manager Obrien who they believe is a renegade and part of a gathering called Brotherhood. OBrien gets them to swear a wide range of things for instance You are set up to gives your lives and so on and so on. He gives them The Book which composed by Emanuel Goldstein who is the pioneer of the Brotherhood. Tehy start to peruse the book and clarify numerous theorys past what they beleive. The idea police come and take themn to the service of adoration. He sees a wide range of individuals go all through room 101. OBrein help torment Winston and he admitted everybody he did and considerably more. He starts to control Winston by tormenting him and conditions him, For instance he makes him see 5 rather than 4. When they controlled his insight they control his feelings and take him to room 101 where they put him against his most noticeably awful dread, rodents. The main slender that could spare him from being eaten was stating that he abhorred his sweetheart and they shoiuld do it to her and not him. After this they fianlly discharged him and he began accepting whatever the Party said. He met his old sweetheart Julia and all the inclination to revolt was go indeed. In the end,the Big Brother,who he detested at the beginning,he started to adore him.
Friday, August 21, 2020
Useful Techniques in Negotiations Essay Sample free essay sample
1. Meaning of dialogueNegotiation is a duologue between at least two individuals or gatherings. planned to make a trepidation. choose purpose of contrast. or on the other hand gain advantage in aftereffect of duologue. to deliver an endless supply of activity. to haggle for single or corporate bit of leeway. to make results to satisfy arranged associations of two individuals/parties engaged with exchange system. Arrangement is where each gathering associated with negociating endeavors to determine a bit of leeway for themselves by the terminal of the method. Exchange is planned to take at by means of media. Arrangement happens in concern. non-benefit associations. specialists regions. legitimate procedures. among states and in close to home condition of affairss, for example, marriage. separate. child rearing. what's more, ordinary life. The study of the point is called discourse 2. Foundation data A month ago I took an interest in a class with a subject: ââ¬Å"Luggage for your prosperous life in futureâ⬠. The central moderator was Mr. Darn le Nguyen Vu â⬠the CEO of Trung Nguyen Coffee Corporation â⬠one of the most significant and praised java exchange names Viet Nam each piece great as known to mankind. We will compose a custom paper test on Helpful Techniques in Negotiations Essay Sample or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Sharing his work encounters. he managed the request: ââ¬Å"What will do your productââ¬â¢s esteem what's more pass on the biggest conceivable overall gain? â⬠the vast majority of import thing was you need to do only it and qualified to buy. After that. an understudy asked him a request: ââ¬Å"How would you be able to elucidate about the extremely minimal net gain husbandmans get from their farming stocks? They produce amazingly decision merchandise in a long clasp yet the total of cash they get back is just bounty for them to do terminals run into? â⬠He said that the overall gain non simply relied upon echt estimations of their stocks. There was other than a disguised key: It was exchange achievements. To be completely forthright. husbandmans did non hold equivalent encounters in exchange. Henceforth. they needed to buy characteristic and hands on stuffs at rather high financial incentive from suppliers yet sell the finishing up stocks with low money related worth. which is non commendable with their endeavor. It is frail achievements in discourse to blame for. I began accepting about this delicate achievement. The facts demonstrate that we can non deny its need in our life. since itââ¬â¢s non just an irreplaceable part in concern which assists with making up ones psyche on the off chance that it is conceivable to make the greatest net gain. be that as it may, other than a key to achievement in about reasons for living. A president should be superbly five star at this achievement to move strategic discussions in monetary framework. political relations. military individual businesss. guidance with administrative nominations from life partner states. It is essential for concern wo rk powers to be authoritatively great and experiential at exchange achievements on the off chance that he anticipates that his organization should ever get strong and formative achievements as great. Representatives need to concede that discourse achievements are exceptionally imperative. something that they need to utilize great prior get bringing down to work. Indeed, even housewives use discourse all the clasp in their everyday life. at the point when they purchase or pay something. Nonetheless. non all individuals have the idea of tips for a fruitful exchange. 3. Points Our gathering has picked the subject: ââ¬Å"Techniques for negotiationsâ⬠for this investigation. Our subject gives profoundly utile and pragmatic cognizance. In the exploration. we explore some of import and fundamental tips for a fruitful exchange. We trust that with a decent preparing and comfortss that our subject touch upon. you can gain extremely functional encounters for yourself furthermore have a far reaching position about this quick one achievement to accomplishment in entire life. 4. Purpose behind the pick We are understudies studying Business English. In this semester. we are larning exchange achievement which is one of the main parts in our review plan. especially in Speaking and Profile. Other than. discourse achievement is impeccably important for non in concern however close to in everyday life buys. 5. Subject of surveya. Buyer* InterviewNHN Corporation ( KRX: 035420 ) is an Internet content assistance administrator headquartered in Seongnam. South Korea and built up in 1998. It works the Naver gateway. which is the most famous Internet entrance and chase motors in South Korea. also, Hangame. the countryââ¬â¢s figure one on-line game entrance. It other than has offshoots in Japan. China ( Ourgame and nciku ) and the United States. It has the biggest market capitalisation of KOSDAQ-recorded organizations. * Questionnaire The poll was led with 47 people staying of students in NEU. understudies from other Vietnamese colleges and abroad contemplating students. Our gathering gathered the outcomes through hand-outs and on-line study. B. Provider Ha Thuong Company is an association studying existent estate* Type of effects: lands for housing in the new urban nations in Ha Noi. Hai Duong. * Regular customers: office workers. business networks ( mean or high compensation ) * Annual mean per centum of completing gross incomes mark with three-year endeavors: 35 % * Partner: Real Estate Trading Center ( board of trustees: 1 % ) 6. Extent of the surveyWe do the investigation with the two sides: suppliers and buyers in two circles of concern showcase: Electronic stocks and existent belongingss. The two circles give fundamental stocks in our cutting edge life now. In this manner. it appears to be apparent that the total of data we gather and summarize is extremely utile and sensible. B. MethodologyI. Research inquiry:What are procedures used to get an effective exchange for: + Buyers?+ Sellers? II. Technique for roll uping information.1. Purchasing electronic devicesThe first bit explored is purchasing electronic products. In this age of data building. the interest for using designing electronic products is significantly more than ever previously. Anyone from any cultural classification, for example, understudies. teachers. officials and even specialists need to use registering machines. Televisions. workstations for work and life. Thusly. electronic accessories are headphones. consoles. mice. remote controls. and so forth are purchased in mass each twenty-four hours. You are an understudy? So it is sure that you have in any event one time got one or a few sorts of electronic products to work your working or investigating. Thusly. our gathering made a test in how to make a fruitful exchange discourse instead of customers. The main motivation behind this segment is to identify the procedures that buyers use to hold the most elevated winning rate and range benefits in negocia ting. We guarantee that this data is essential and utile to you when you are understudies or even alumnuss along these lines. The main kind of roll uping informations was addressing. in which we had a discussion with a person who have a cluster of encounters in this field. The grown-up male is responsible for purchasing electronic gadgets for his organization. He was useful and well disposed to partition every one of us the procedures which assist him with covering with discourse and dealing. He is a standard customer of Tran Anh Corp. â⬠an electronic gadgets supplier. Second technique was passing out a survey which comprises of 14 requests including both various decision and Yes/No requests. The surveyââ¬â¢s members are officials. students and abroad understudies who all the time purchase electronic gadgets. This expected to examine about the wonts and strategies customers utilized when buying this kind of things. At long last. the last strategy was roll uping data on the Internet where an incredible exchange of utile and fascinating data is accessible. 2. Selling houses and existent domain. The second part explored was selling houses or existent bequest. This worry is considered as a worry offering a lot of net gain for speculators. Since existent domain things is non a typical product however something that is utilized for since quite a while ago run and ; thus. there would be numerous undertakings to circumspectly exchange with while negociating. Moreover. the total compensations picked up in this field mainly rely upon how well Sellerss can convey their customers to buy an assets. As a result. an exploration on the plans taking to the achievement of an existent home discourse is irreplaceable. We trust that the informations gathered can help all the future business networks or agents like us get utile cognizance. The kind of roll uping informations is addressing. The interviewee was the chief of a land organization. His occupation was covering with selling houses for customers. He shared his encounters and plans which empowered to hold a fruitful exchange with buyers . Subsequent to giving a survey for him to make full in. we asked him a couple of requests. He was happy to help by giving us clear data about his occupation and encounters. On the different manus. we other than looked on the Internet to get increasingly inside informations about this kind of concern. Our investigation did non explore on simply one side: solitary Sellerss or solitary buyers. Conversely. we would wish to give crowds a both-side diagram about discourse in concern. How to be shrewd buyers? Also, how to be a productive Sellerss? FindingssI. Purchasing electronic devices1. InterviewThere is brief data about meeting with Mr. Van Ngoc Trung â⬠purchasing chief of NHN Vietnam Corporation. We inquired him a figure of requests. Blending to Mr. Trung. discourse is normal in pretty much all exchanging. non exceptionally in buying electronic products simply. He educated that exchange was non just his obligation however alongside his energy. Luckily. he about ever prevailing with regards to negociating or haggling focuses. The c
Thursday, June 4, 2020
Marketing Research Paper About Migrant Entrepreneurship - 3025 Words
Marketing Research Paper About Migrant Entrepreneurship (Research Paper Sample) Content: Migrant EntrepreneurshipStudents NameInstitutional AffiliationCourse:Date:Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc495400784 \h 3Introduction PAGEREF _Toc495400785 \h 4Literature Review PAGEREF _Toc495400786 \h 4Migrant Entrepreneurship in the 19th and 21st Centuries PAGEREF _Toc495400787 \h 9Research Methodology PAGEREF _Toc495400788 \h 10Analysis and Discussion PAGEREF _Toc495400789 \h 11Conclusion PAGEREF _Toc495400790 \h 13Executive SummaryThe report presents the findings of a research that was conducted to investigate the changes that have taken place in the American immigrant entrepreneurship since 19th century. The study revealed that the 21st century immigrant entrepreneurs face different challenges from those that were faced by the 19th century immigrant business owners. To complete the study, critical analysis of peer-reviewed sources was conducted. The qualitative analysis of the secondary sources provided relevant, credible and reliable data for the study. Second section of the paper presents the literature review of the sources that were used. Also, the report provides a detailed comparative study of the 19th and the 21st immigrant entrepreneurship. Additionally, the research conducted a critical analysis of two case studies to obtain more information regarding the subject. Finally, the research provides recommendations that can be implemented to solve the problems that are related to the topic. The final section of the report provides the sources that were used to complete the study.IntroductionIn the recent years, the topic of immigrant entrepreneurship has attracted the interest of scholars within the borders of the United States of America. However, immigrants have been involved in establishment and operation of businesses since the 19th century. Various studies have been conducted to investigate the importance of immigrant enterprises to the American economy. An immigrant entrepreneur refers to an individual who migrates to another country to establish an enterprise. Therefore, any business that is owned by an immigrant is referred to as an immigrant business. Claus Spreckels and the Marx family are examples of immigrant entrepreneurs who established their businesses in the United States of America in the 19th century. It is important to understand that immigrants continue to establish businesses in America. The immigrant entrepreneurs of the 19th century faced different challenges from those that are being faced by the 21st century immigrant entrepreneurs. Therefore. The American immigrant entrepreneurship has changed since 19th century. This report seeks to study immigrant entrepreneurs by focusing on the 19th century entrepreneurs with the 21st century businesses.Literature ReviewAccording to Fairlie (2013), immigrant entrepreneurs contribute immensely to the American economy. Therefore, immigrant entrepreneurship has been of great interest to policymakers. Several social and econom ic policies have been put in place to encourage the immigrants to establish and develop their enterprises in different parts of the country. The plans are formulated to deal with issues which may make it hard for them to start and run their businesses. For instance, policymakers have started different programs to simplify the legal procedures and bureaucracies that complicate registration of new businesses. Also, politicians have been working on ways to which credit can be made available for immigrants who desire to establish their enterprises in the country.Moreover, different policies have been formulated to attract foreign investors or entrepreneurs to the United States America. It is important to understand that the government encourages immigrant entrepreneurs since they are known to be contributing to the rapid growth of the economy (Lofstrom 503). However, the 19th century immigrants decided to leave their countries for America because of political, religious and economic iss ues. One of the significant challenges that the immigrants faced in the 19th century was that they did not get support from the American government.According to (Kerr and Kerr, 2016), scholars have cited few cases of successful immigrant businesses in America. Many scholars have been referring to the case of Sergey Brin, as the most successful immigrant entrepreneurs. Brin was one of the founders of the Google Company. Google is one of the biggest and the most valuable information and technology companies in the world. Studies have revealed that Silicon Valley has contributed to the influx of high-tech companies in the country in the recent years. Also, statistics have revealed that almost a half of the technology businesses in the Silicon Valley are owned and run by immigrants. It is reasonable to deduce that the different investment policies motivate the foreigners to start their businesses in the Silicon Valley.Statistical data has also shown that most of the university and colle ge students around San Francisco are immigrants (Farlie, 2013). This may be used to explain why most of the start-up companies are owned by immigrant entrepreneurs. Foreign policies and international relations of the 21st century have made it easier for immigrants to venture into business in America. The fact that the immigrant enterprises contribute to the economy through tax revenue, employment and competition imply that it is in the best interest of the government to support them (Fairlie, 2013).According to Kimbarovsky (2017), the common thing about Google, Instagram, Whatsapp, and eBay is that they were all developed, by foreigners. The technology products are some of the leading brands in the world. Even though they are all American products, they were founded by immigrant entrepreneurs who were determined to pursue their dreams while living in America. It is also important to note that immigrants from Asia and other parts of the world continue to start and develop their small -scale businesses in various parts of America. American market provides a conducive business environment where businesses can compete fairly regardless of whether they have been founded by Native Americans or Immigrants. The constant increase in the number of immigrant entrepreneurs has led to creativity and innovation in various industries. The immigrants bring in skills and ideas from their countries of origin hence making it possible for them to compete with the local companies.Ethnicity and culture affect the ability of immigrant entrepreneurs to start and run businesses. Studies have revealed that immigrants from Asia dominate information, technology, and scientific industries. The belief that Asian Americans perform better than other Americans in technological developments inspire immigrants from Asia to venture into businesses that are related to science and technology. Also, the immigrants try to combine the knowledge and skills from their countries of origin with what they learn from other Americans.According to Seal (p.625), legal and regulatory policies affect the immigrants who seek to venture into new businesses. Even though the government seeks to make it easy for investors to establish their businesses, immigrants still face challenges. It takes time for the immigrants to learn and understand the regulations that govern business organizations in the country. Such challenges make it difficult for immigrant enterprises to compete fairly with companies that are run by other Americans. Additionally, the language barrier is also a major problem that the immigrant business owners must address for them to establish and expand their businesses.In spite of the challenges, several immigrants have successfully developed their businesses and brands. Mike Krieger, Eren Bali, and Alberto Zumba are three of the most prominent immigrants who have developed successful high-tech companies in the 21s century. Krieger was born in Brazil, where he grew up, before mo ving to America to study at the Stanford University. Krieger is known to have developed Instagram before selling it to the Facebook Company. Krieger collaborated with Systron to develop the application in the year 2010. The company developed into one of the most successful social networks in the world before its acquisition by Facebook in 2012.The enactment of the North American Free Trade led to the establishment of several businesses by immigrants. According to Rogers, the enactment of the trade policy made it possible for immigrants like Eduardo Rodriguez to start their businesses in the streets of Chicago. Rodriguez migrated to the United States in 1966. However, he had to wait until 1995 for him to start doing business in Chicago (Rogers, 2017). Most of the businesses in the area are owned by Immigrants. Rodriguezs daughter has also started her own business in the same location. According to her, her community is good at doing business, and she encourages other immigrants to be come entrepreneurs. The community believes that their ethnicity has played a role in their success (Rogers, 2017).Previous investigations have proven that business ownership is higher in the places that are dominated by immigrants as compared to the neighborhoods that are dominated by the Natives (Harding, 2017). The number of immigrant businesses continues to grow on a daily basis due to the strategies that have been put in place by the government. It is important to note that immigrant entrepreneurship is not unique to the United States. Developed countries like Canada, Australia, and the U.K. among others have witnessed the influx of immigrant entrepreneur in the 21st century. Governments of such countries seek to encourage business establishments by the immigrants since it is one of the factors that have increased employment and revenue in the recent years. The 19th century governments were not so keen about the immigrant entr...
Sunday, May 17, 2020
What Is a Leave of Absence From College
You may know a student or two who took a leave of absence and some time off from college. You may also know that doing so is an option for youââ¬âeven if you dont know the specifics. To decide if a leave of absence is the right choice, you need to understand what it is, what type of time off qualifies, and what it could mean for your college career. What Is a Leave of Absence? Leaves of absence are available for college students because things can happen during your time in school that might take priority over working toward your degree. Leaves of absence dont necessarily have to indicate that youve failed at something, messed up during your time in school, or otherwise dropped the ball. Instead, a leave of absence can be a good tool to help you deal with other issues so that when and if you do return to school, youre better able to focus on your studies. Voluntary vs. Involuntary Leave of Absence There are usually two kinds of leaves of absence: voluntary and involuntary. Voluntary leaves of absence can be granted for a variety of reasons, like medical leave, military leave, or even personal leave. A voluntary leave of absence is just what it sounds likeââ¬âleaving the college voluntarily. Here are some reasons you might need to leave voluntarily: A family member has a major illness and you need to help your family.You are suffering from depression and hope to improve your mental health before resuming classes.à Your finances are too tight and you need to take a semester off to work and make extra money. An involuntary leave of absence, in contrast, means you are not leaving the institution by choice. You may be required to take a leave of absence for any number of reasons, including: As part of a judicial ruling because of your personal conduct, a negative action, or an infraction of campus policy.Because your academic performance has not been at the level your college requires.Failure to adhere to the schools requirements for registration, immunizations, or financial obligations. What Happens During a Leave of Absence? Whether your leave of absence is voluntary or involuntary, its important that you thoroughly understand what your leave entails. Get the answers to all of these questions before you make a final decision or leave school. What happens to your academic work/classes and financial aid for this term? ââ¬â¹If you take a leave of absence right now, find out if you will need to pay back your loans and scholarships right away or if you will be given a grace period. You should also learn whether any of your tuition and fees will be refunded. Learn the status of your classwork: Do you take an incomplete or will your transcript reflect a withdrawal?What requirements, if any, are there for returning? ââ¬â¹You might need to complete some aspect of a judicial sanction, for example, or prove that you can once again perform academically at a college level. Learn if you need to reapply for admission if you want to return to your college or university and what other actions you will need to take if you are interested in enrolling again at a later date.How long will your leave of absence be granted for? Leaves of absence dont continue indefinitely. Learn how long you may be on leave and what you must do during tha t time. Your college or university may require you to update the institution on a regular basisââ¬âat the start of every semester, for exampleââ¬âabout your status. Seek Help With Your Decisions While a leave of absence can be a great resource, make sure you are very clear about the requirements of taking such a leave. Speak with your academic adviser and other administrators (like the Dean of Students) responsible for coordinating and approving your leave. After all, you want your leave to be an aidââ¬ânot an obstacleââ¬âto ensure you return to your studies focused, refreshed, and re-motivated.
Wednesday, May 6, 2020
A Rose For Emily By William Faulkner - 1720 Words
Thoughts of Emily Readers can often times find that fiction starts prosaically, but ends unpredictably as shown in the short story ââ¬Å"A Rose for Emily,â⬠written by William Faulkner. This fictional story is an example of Gothic literature about the Antebellum South. It is narrated by an unreliable male character who represents the townspeople. It might seem like Miss Emily is the protagonist, however, the narrator and the townspeople are really the protagonists who stand for the force of the community. The narrator and the townspeople act on Miss Emily and her desire by denying her desire for love. In the portrayal of the Miss Emilyââ¬â¢s role, the reader can see the conflict between her fantasy on love and the townââ¬â¢s fantasy on her. Miss Emilyââ¬â¢s pursuit of her dreams, illusion, and communityââ¬â¢s dysfunctional values lead to her destruction. Faulkner uses imagery to reveal Emilyââ¬â¢s aristocratic family background, which is a heavy burden for her. Miss Emily Griersonââ¬â¢s family was once rich before the Civil War. Miss Emily carries her head high enough so that she does not lose the recognition of her dignity as the last Grierson. No matter what happens to her, she holds on to her nobility to protect her identity. The story begins with Miss Emilyââ¬â¢s funeral located at her house, which has remained closed for decades. Emily has been not hospitable as well as isolated to the town. The ââ¬Å"big, squarish frame house decorated with cupolas and spires and scrolled balconies,â⬠is located in the mostShow MoreRelatedA Rose For Emily By William Faulkner923 Words à |à 4 PagesA Rose for Emily; A Tale of The Old South William Faulkner was born in New Albany, Mississippi in 1897 but lived most of his life in Oxford, a small town nearby. After dropping out of high school then briefly joining the Canadian Air Force, he returned home and completed three terms at the University of Mississippi (Fulton 27). During his early twenties Faulkner spent time in New Orleans and Europe before returning to Oxford and publishing his first book of poems. In 1929 he married Estelle FranklinRead MoreA Rose For Emily By William Faulkner1729 Words à |à 7 PagesJune 24, 2015 ââ¬Å"A Rose for Emilyâ⬠In every neighborhood there is always that one house that is a mystery to everyone. A house that everyone wants to know about, but nobody can seem to be able to dig up any answers. Itââ¬â¢s the type of place that you would take any opportunity or excuse to get to explore. The littler that is known, the more the curiosity increases about this mysterious place or person. In the short story ââ¬Å"A Rose for Emilyâ⬠by William Faulkner, this mysterious person is Emily Grierson, andRead MoreA Rose For Emily By William Faulkner949 Words à |à 4 PagesIn William Faulknerââ¬â¢s ââ¬Å"A Rose for Emilyâ⬠it is clear how Emilyââ¬â¢s gender affects how the individuals in the town perceive her. Emilyââ¬â¢s gender particularly affects how men understand her. Throughout the whole piece Emily is seen as a helpless individual who is lonely and has suffered losses throughout her life. When the reader reaches the end of the story the actions that Emily has taken is unexpected because of the way she is perceived by the narrator. In the beginning of the story, when the wholeRead MoreA Rose For Emily By William Faulkner1577 Words à |à 7 Pagesââ¬Å"A Sarah Markins Dr. Bibby ENG 107 February 11, 2015 ââ¬Å"A Rose for Emilyâ⬠by William Faulkner ââ¬Å"A Rose for Emilyâ⬠, written by William Faulkner in 1931, follows a series of peculiar events in Miss Emily Griersons life. Written in third person limited, Faulkner utilizes flashbacks to tell of the period between the death of Emilyââ¬â¢s father and her own passing. Split into five short sections, the story starts out with the townspeople of Jefferson remembering Emilyââ¬â¢s legacy and how each new generation ofRead MoreA Rose For Emily By William Faulkner1552 Words à |à 7 PagesRyan Dunn Mrs. Williams English 11 March 11, 2016 In the short story ââ¬Å"A Rose for Emilyâ⬠by William Faulkner, the reader is given a glimpse of the internal conflict of the main character, living in the past, and the involvement of an over involved society causing the reader to look into the consciousness of an individual haunted by a past and lack of a future. The story is set in a post-Civil War town in the South. He is able to give the reader a glimpse of the practices and attitudes that had unitedRead MoreA Rose For Emily By William Faulkner1507 Words à |à 7 Pages1897, William Cuthbert Faulkner was born in New Albany, Mississippi. He stands as one of the most preeminent American writers of the twentieth century. His literary reputation included poetry, novels, short stories, and screenplays. Faulkner won two Pulitzer Prizes for Fiction and the Nobel Prize in Literature. ââ¬Å"A Rose for Emilyâ⬠is a short fascinating story written by William Faulkner and it was his first short story published in a national m agazine. The story involved an old woman named Emily GriersonRead MoreA Rose For Emily By William Faulkner883 Words à |à 4 PagesIn the timeless classic, ââ¬Å"A rose for Emilyâ⬠by William Faulkner we are introduced to Emily Grierson, a matured sheltered southern woman; born to a proud, aristocratic family presumably during the American Civil War. Through out the short story William Faulkner uses many literary devices such as symbolism, metaphors and allegory to play with ââ¬Å"timeâ⬠and how time reflects upon his main character Emily Grierson. Emily being one who denies the ability to see time for what it is linear and unchangeableRead MoreA Rose For Emily By William Faulkner1270 Words à |à 6 PagesWilliam Faulknerââ¬â¢s short story ââ¬Å"A Rose for Emilyâ⬠thoroughly examines the life of a strange woman name Emily Grierson who lives in the town of Jefferson. If we examine ââ¬Å"A Rose for Emilyâ⬠in terms of formalist criticism, we see that the story dramatizes through setting, plot, characterization, and symbolism on how Miss Emilyââ¬â¢s life is controlled by a possessive love she had for her father and lover. William Faulkner uses Emilyââ¬â¢s life as the protagonist to examine from a formalist aspect. In orderRead MoreA Rose For Emily By William Faulkner1780 Words à |à 8 PagesIn 1930, William Faulkner wrote a five-part story entitled ââ¬Å"A Rose for Emilyâ⬠that follows the life of a young woman named Miss Emily Grierson. Faulkner sets his story in the Old South, soon after the ending of Americaââ¬â¢s Civil War, and represents the decaying values of the Confederacy (Kirszner Mandell, 2013a, p. 244). One of these values which the text portrays quite often in ââ¬Å"A Rose for Emilyâ⬠, is the patriarchal custom of society viewing men as having more importance than their female counterpartsRead MoreA Rose For Emily By William Faulkner1277 Words à |à 6 PagesMiss Emily Grierson, the main character in the strange short story ââ¬Å"A Rose for Emilyâ⬠written by William Faulkner. It would be best to examine her in a mental capacity as well as the circumstances that may affect her. Throughout the story, Miss Emilyââ¬â¢s unpredictable and eccentric behavior becomes unusual, and the reader, like the townspeople in the story, is left to speculate how Miss Emily has spent years living and sleeping with the body of Homer Barron. An important quote from the story was that
Tuesday, May 5, 2020
Manage Resistance to Change Proactively free essay sample
Register for this journal is available at http://www. emeraldinsight. com/researchregister The current issue and full text archive of this journal is available at http://www. emeraldinsight. com/0262-1711. htm Managing diversity using a strategic planned change approach Earnest Friday Management in the College of Business Administration, Florida International University, Miami, Florida, USA, and Managing diversity 863 Received October 2002 Revised February 2003 Accepted February 2003 Shawnta S. Friday School of Business and Industry at Florida AM University, Tallahassee, Florida, USA Keywords Diversity management, Strategic management, Change management Abstract Many organizations have implemented various types of initiatives within the last few decades in an effort to deal with diversity. A possible missing vinculum (link) between how an organization deals with diversity and its impact on the bottomline is a corporate diversity strategy that is executed using a planned change approach to systemically manage diversity. While many organizations have implemented a corporate diversity strategy, most have not used a ââ¬Å"planned change-corporate diversity strategyâ⬠. The lack of a ââ¬Å"planned change-corporate diversity strategyâ⬠is quite likely to inhibit managing diversity from becoming systemic to an organizationââ¬â¢s culture and its way of doing business, thus tending to disallow the potential bene? ts of diversity to be maximized. Hence, this paper offers a framework for using a ââ¬Å"planned change-corporate diversity strategyâ⬠to: progress along the ââ¬Å"diversity continuumâ⬠starting with acknowledging to valuing, and ultimately to managing diversity; and systemically managing diversity using a eight-step ââ¬Å"managing diversity processâ⬠. Introduction Over the past few decades, academicians, practitioners and organizational researchers have recognized that diversity is a phenomenon that has a wide array of affects within the workplace, and society in general (Koonce, 2001; Stark, 2001; Williams and Oââ¬â¢Reilly, 1997). In this paper, diversity refers to any attribute that happens to be salient to an individual that makes him/her perceive that he/she is different from another individual (Williams and Oââ¬â¢Reilly, 1997). Some widely accepted differentiating attributes include racioethnicity (which encompasses race and ethnicity), gender, nationality, religion, functional expertise, and age. Even though racioethnic and gender diversity tend to receive the majority of the attention in the organizational diversity literature (Stark, 2001; Williams and Oââ¬â¢Reilly, 1997), this de? ition allows for the frameworks offered to be applied to any type of organizational diversity salient to members. Diversity programs have been implemented in many multinational organizations, primarily, in an effort to improve working relationships Journal of Management Development Vol. 22 No. 10, 2003 pp. 863-880 q MCB UP Limited 0262-1711 DOI 10. 1108/02621710310505467 JMD 22,10 864 between white males, whose relative numbers continue to decrease, and demographically different individuals, whose numbers continue to increase in the workplace (Friedman and DiTomaso, 1996). While many multinational organizations have a corporate diversity strategy, most have not implemented it using the suggested planned changed approach posited in this paper. Given the intensifying ââ¬Å"war for talentâ⬠in todayââ¬â¢s competitive, global business environment, it is imperative that the execution and evaluation of a corporate diversity strategy use a planned changed approach to not only acknowledge and value diversity, but to also systemically manage and inculcate diversity into an organizationââ¬â¢s corporate culture. This type of approach can contribute immensely to an organizationââ¬â¢s ability to use all of its human capital as a strategic means to gain and maintain a competitive advantage in todayââ¬â¢s dynamic, global marketplace (Richard, 2000). It has been purported that if diversity can be effectively managed in an organization, some potential bene? ts to the organization include greater creativity and innovation, and improved decision-making (Cox, 1991). Conversely, if diversity is not managed effectively, some potential major costs to the organization include, at a minimum, breakdowns in communication, interpersonal con? ict, and higher turnover (Cox, 1991). While there may not be much empirical evidence to substantiate claims that effectively managed diversity directly leads to bottomline increases (Chatman et al. , 1998; Richard, 2000; Stark, 2001), there is real-world evidence (e. g. Coca-Cola, Dennyââ¬â¢s, Publix, and Texaco settlements) to suggest that not effectively managing gender and racioethnic diversity has been, and can be, detrimental to organizations and their bottomlines. Thus, it is a logical extrapolation that an organizationââ¬â¢s ability or inability to create a culture in which diversity is systemically acknowledged, valued, and effectively managed is more likely to determine the affects diversity will have on itââ¬â¢s bottomline. Many organizations have implemented various diversity initiatives as a part of their corporate diversity strategy (Koonce, 2001), but most have not used a planned change approach to strategically align their initiatives with their long-term objectives and strategic positioning. It is highly probable that this lack of planned strategic alignment contributes immensely to the purported ineffectiveness of many diversity initiatives (Stark, 2001). Consequently, an organization that seeks to maximize the potential bene? s of diversity should devise a ââ¬Å"planned change-corporate diversity strategyâ⬠prior to implementing diversity initiatives. The purpose of the planned change-corporate diversity strategy is to align the organizationââ¬â¢s diversity initiatives (designed to manage diversity) with the organizationââ¬â¢s strategic goals, and ultimately make managing diversity an integral part of the organizationââ¬â¢s culture. An aligned planned change-corporate diversity st rategy will contribute immensely to the long-term effectiveness of diversity initiatives aimed at better managing all of he organizationââ¬â¢s human resources. This is especially signi? cant for organizations with a highly diversi? ed workforce. With a planned change-corporate diversity strategy, diversity initiatives are aligned with organizational policies, procedures, and systems. Such alignment is desired to systemically reinforce an organizational culture that encourages the effective management of all employees in order to garner diversityââ¬â¢s purported bene? ts, including the end goal of increasing the bottomline. Thus, frameworks are presented for using a planned change-corporate diversity strategy to: advance from the initial passive states of acknowledging and valuing diversity to the ? nal active state of managing diversity on the ââ¬Å"diversity continuumâ⬠; and systemically manage diversity using the speci? c eight-step ââ¬Å"managing diversity processâ⬠. The diversity continuum and the planned change approach Valuing diversity and managing diversity as distinct phenomena Over the last few decades, a myriad of articles have been written on the subjects of valuing diversity and managing diversity (Wanguri, 1996). In some cases, valuing diversity and managing diversity have been considered, and sometimes used, interchangeable when, in fact, they are two different phenomena (Jenner, 1994). By the very nature of their de? nitions, valuing and managing diversity are distinctly different. Valuing refers to the relative worth, importance, or signi? cance of something, whereas managing refers to taking charge or coordinating and supervising situations. Given these de? nitions, valuing diversity should be considered a more passive phenomenon, where importance or signi? ance is given to individualsââ¬â¢ differences, which does not automatically lead to visible actions or reactions on the part of the individuals valuing the diversity or differences. Managing diversity, on the other hand, should be considered an active phenomenon, which involves supervising or coordinating and directing the diversity or differences individuals bring to the organization to ensure the organizationââ¬â¢s strategic go als are being fully and effectively met. In other words, it refers to successfully organizing the organizational inputs of individuals with diverse backgrounds. This de? nition is consistent with the managing diversity de? nition given by Thomasââ¬â¢ (1991): ââ¬Å"a ââ¬Ëway of thinkingââ¬â¢ toward the objective of creating an environment that will enable all employees to reach their full potential in pursuit of organizational objectivesâ⬠. The diversity continuum As a result of the confusion in the literature between the two phenomena, valuing diversity and managing diversity, it is not dif? cult to understand why consensus does not exist on the claims of bottomline bene? s as a result of the attempts organizations have made to value and/or manage diversity. In addition to the confusion, lack of consensus could also be a function of the Managing diversity 865 JMD 22,10 866 complexity of the diversity concept in the organizational context. Given the complexity of diversity within an organizational setting, it is possible that perceiving it in terms of a set of three elements that delineates what to do with diversity may serve t o simplify or clarify the confusion in the diversity literature. Therefore, a diversity continuum is offered to guide researchers and practitioners in moving from the more passive states of acknowledging diversity and valuing diversity, on through to the more active state of managing diversity. As individuals ? nd themselves in situations with diverse individuals, they are likely to take one of two courses of action: avoid dealing with the diversity, or recognize that the diversity exists. In the case where individuals avoid diversity, they do not face the fact that diversity is an issue. It is likely that these individuals do not accept the idea that they are likely to be biased in their interactions with others that they perceive to be different from themselves. Although avoiding diversity is viewed as a possible response to diversity, it is not included in the diversity continuum. The diversity continuum is based on the assumption that individuals take the second course of action and recognize diversity. Once diversity is recognized, as previously stated, the diversity continuum serves as a framework to delineate the three potential states of dealing with diversity: acknowledging, valuing, and managing diversity. The three sequential components of the diversity continuum are: acknowledging diversity; valuing diversity; and managing diversity (see Figure 1). Acknowledging diversity, the ? rst component, refers to recognizing the existence of diversity or the individual differences individuals bring with them to a particular setting. In order for individuals to truly acknowledge diversity, they must be exposed to it, experience it, acquire knowledge about it, and they must develop an understanding of diversity. The second component of the diversity continuum is valuing diversity. Valuing diversity, as de? ed above, refers to the signi? cance or importance being given to the diversity or differences individuals bring with them to a particular setting. Having an appreciation for, as well as respect for, the differences that diverse individuals bring with them to the work setting can lead to the last component. The last component of the diversity continuum is managing diversity. As stated above, m anaging diversity refers to the planning, organizing, leading of individuals with differences or diversity in a particular setting, such that their inputs are used to accomplish the organizationââ¬â¢s strategic goals. Even in racioethnically homogeneous organizational settings, organizations make large investments to ensure an appropriate organizational culture is fostered. An appropriate organizational culture is desirous, such that individuals are systemically managed to perform and accomplish its goals, not just hoping that their performance will somehow lead to the accomplishment of the organizationsââ¬â¢ desired goals. Thus, similar systemic efforts are necessary in order to manage Managing diversity 867 Figure 1. The strategic management process emographically diverse individuals such that the organization can gain the maximum synergistic bene? ts from their contributions as well. The planned change approach Rather than being reactive and waiting for a ââ¬Å"diversity crisisâ⬠to take place before a change is made (i. e. Coca-Cola, Dennyââ¬â¢s, Publix, and Texaco settlements), an organization should be proactive in systemically Managing Diversity. Hence, an organization and its m embers should make the necessary changes to proactively move from just settling for the ? rst stage of acknowledging diversity to the ? al stage of managing diversity. The Lewin-Schein change model is offered as the theoretical framework to proactively and systemically facilitate the management of diversity in organizations. This planned change model is based on the premise that the organizational forces propelling change must subdue the forces resisting change for highly effective change to occur. Therefore, it is posited in this paper that the Lewin-Schein change model is a framework that can assist organizations and individuals in moving through the sequential elements of the diversity continuum. It is also posited that this model can be applicable at JMD 22,10 868 both the organizational and individual level for managing diversity. While Allen and Montgomery (2001) offered the Lewin-Schein change model as a framework for creating diversity, the model is offered in this paper as a framework for Managing Diversity. The Lewin-Schein change model involves three stages: unfreezing, change (moving), and refreezing (Lewin, 1951; Schein, 1992). For the organization or individual to experience successful change, the three stages need to be addressed in succession. Unfreezing using a planned change-corporate diversity strategy In the unfreezing stage, the organizationââ¬â¢s or individualââ¬â¢s present culture (which includes perceptions, attitudes, and behaviors) toward diversity, needs to be unfrozen. This means there needs to be enough motivation within the organization or individual to want to change from its present state to the new desired state. Thus, in moving from one end of the diversity continuum to the other end, with managing diversity being the desired outcome, management must desire that its members move from just acknowledging and valuing diversity to managing diversity. As presented previously, managing diversity refers to systemically organizing and directing the inputs of all organizational members (including diverse individuals) to ensure the organizationââ¬â¢s strategic goals are met. Likewise, the individual must want to move from just acknowledging and/or valuing diversity to the ? nal phase of managing diversity. At the individual level, this movement involves governing oneââ¬â¢s actions toward diverse individuals in a way that allows for healthy, productive interaction with those diverse others. Therefore, to unfreeze the organizationââ¬â¢s culture and its membersââ¬â¢ current state of mind toward diversity, a planned change-corporate diversity strategy should be devised and aligned with the organizationââ¬â¢s strategic positioning to reduce the forces that are striving to maintain the status quo (Dobbs, 1998). A ? rmââ¬â¢s strategic positioning The strategic management process is employed by many organizations in order to distinguish themselves from their competitors in the marketplace (David, 2001; Porter, 1985; Steiner, 1997). Although there are several schools of thought in the strategic management ? ld, the generally accepted components of the strategic management process are: strategy formulation, strategy implementation, and strategy evaluation as explained in Figure 2 (David, 2001; Hill and Jones, 1998). Strategy formulation is comprised of developing or reviewing the organizationââ¬â¢s mission, vision, and long-term goals; conducting internal and exte rnal assessments to identify the organizationââ¬â¢s strengths, weaknesses, opportunities, and threats (SWOT); setting selection criteria and selecting the strategies that will afford the organization the best strategic positioning relative to its competitors (David, 2001; Steiner, 1997). Strategy implementation entails allocating the appropriate resources to ensure the Managing diversity 869 Figure 2. The three levels of organizational strategy selected strategies are properly executed (David, 2001; Steiner, 1997). Strategy evaluation involves setting control processes to continuously review, evaluate, and provide feedback concerning the implemented strategies to determine if the desired results are being accomplished, such that corrective measures may be taken if warranted (Hill and Jones, 1998; Steiner, 1997). As illustrated in Figure 3, there are usually three levels of strategy associated with large-scale organizations. The corporate level strategy de? nes the organizationââ¬â¢s purpose and the lines of businesses in which it plans to operate, thereby providing the overarching direction for the organization. If an organization only operates in one line of business, its corporate level strategy and business level strategy are effectively one in the same (David, 2001; Hill and Jones, 1998). A business level strategy is the blueprint that should enable an organization to leverage its resources in order to differentiate itself from the competition within a particular line of business (David, 2001; Hill and Jones, 1998). The functional-level strategies serve to support the organizationââ¬â¢s business-level strategy by providing direction for the appropriate short-term activities required by each functional area to meet the goals established in the business-level strategy (David, 2001; Hill and Jones, 1998). Consequently, having properly aligned corporate, business, and functional level strategies aid an organization in its efforts to accomplish its goals, thereby strategically positioning itself to successfully compete within the marketplace (David, 2001; Hill and Jones, 1998; Porter, 1985). Combining highly differentiated and ef? cient human capital with clearly delineated corporate, business, and functional level strategies can prove to be a competitive advantage for an organization (Barney, 1991, 1997; Wright et al. , 1995). An organization must view strategies for developing and managing its employees JMD 22,10 870 Figure 3. Alignment between corporate strategy and planned change-corporate diversity strategy as a part of its overarching corporate level strategy if it desires to have highly differentiated and ef? ient human capital in todayââ¬â¢s competitive, global environment. Therefore, one argument of this paper is that any organization seeking to realize the maximum bene? t from having a diversi? ed workforce should have a planned change-corporate diversity strategy that is aligned with the organizationââ¬â¢s overall strategic positioning. Developing a planned change-corporate diversity strategy The organization ââ¬Å"wishing to create an environment that enables all employees to reach their full potential will have to . . . change organizational practices as necessaryâ⬠(Thomas, 1991). However, prior to changing any organizational practice, a comprehensive strategy for how to accomplish that change should be devised based on an in-depth understanding of relevant organizational dynamics (i. e. culture, structure, ? nancial position, strategic initiatives, etc). Theoretically, a strategy should precede the structure of an organization. Consequently, a planned change-corporate diversity strategy should be devised to align with the organizationââ¬â¢s corporate strategy before structuring diversity initiatives (as illustrated in Figure 4), and reinforced using a planned change approach. Organizations that have elevated their diversity strategist to executive-level management are likely to have an overarching corporate diversity strategy in place. But, it is not as likely that the diversity strategist is using a corporate-wide planned change approach to systemically reinforce the proposed changes in the corporate diversity strategy throughout all of the Managing diversity 871 Figure 4. The diversity continuum organizationââ¬â¢s policies, procedures, and systems. Regardless of whether an organization has a corporate diversity strategy or not, it may be necessary to superimpose a planned change-corporate diversity strategy over existing disjointed diversity strategies and initiatives. At the onset of such an endeavor or superimposition, corporate diversity mission statement, vision, and goals must be formulated to articulate the purpose diversity initiatives will serve within the organization and the desired outcomes to be achieved from such initiatives. The delineated desired outcome should be designed to systemically manage diversity. Conducting internal and external assessments are essential steps in devising a planned change-corporate diversity strategy. An internal assessment will allow the diversity strategist to decide how to position diversity strategies and initiatives within the organizationââ¬â¢s structure, and to align them with all of the organizationââ¬â¢s policies, procedures, and systems. To assess the external environment, the diversity strategist should use environmental scanning tools to extract best practices based on benchmarked diversity strategies and initiatives at other leading organizations. Through the internal assessment, the diversity strategist should become intimately familiar with the organizationââ¬â¢s values, vision, mission, strategies, goals, and initiatives, all of which constitute a sound basis for understanding the organizationââ¬â¢s culture, policies, procedures, systems, and overall strategic positioning. The diversity strategist must become equally familiar with the bene? ts and shortfalls of various diversity initiatives. The strategist must conduct an analysis to determine the most appropriate linkages between the organizationââ¬â¢s overall strategic positioning, policies, procedures, systems, and its diversity initiatives. Before proceeding, the diversity strategist must recognize and effectively articulate a clear strategic ? t and alignment amongst the organizationââ¬â¢s overall strategic positioning, policies, procedures, systems, JMD 22,10 872 and diversity. Both strategic ? t and strategic alignment are necessary to strengthen the business case for allocating resources to support the planned change-corporate diversity strategy. In order to realize the maximum bene? ts from diversity, the planned change-corporate diversity strategy needs to be properly executed, evaluated and refrozen to ensure that the stated goals are being met, and that the organizationââ¬â¢s culture and members are moving toward and sustaining the desired state of systemically managing diversity. Moving to systemically managing diversity Once the present state is unfrozen, the move that will allow the organizationââ¬â¢s culture and members to advance to the desired state should be put in place. In this case, the move is to culturally reengineer the organization and its members to the true state of managing diversity by implementing the managing diversity process. The social learning theory (Bandura, 1977) is offered as the theoretical framework for the managing diversity process. It has also been offered as the theoretical framework for developing training programs in the cross-cultural and expatriate literature (Black and Mendenhall, 1989; Harrison, 1994). There are four major tenets of social learning theory: motivation, attention, retention, and reproduction (Bandura, 1977). These tenets are re? ected in the eight steps of the managing diversity process. In an effort to truly manage diversity, a change in the attitudes and behaviors of individuals, and in organizationsââ¬â¢ systemic and institutional ways of doing business is required. Therefore, it is posited that utilizing the tenets of social learning theory can aid in the acquisition of the learning that is necessary for organizations to maximize the inputs of all of its diverse members. The planned change-corporate diversity strategy serves as the motivation for the learning of new behaviors and attitudes. Hence, once the planned change-corporate diversity strategy is articulated, the move through the eight steps of the managing diversity process should be instituted to assist individuals and organizations in culturally reengineering and moving to the desired state of managing diversity. The eight sequential steps of the managing diversity process include: (1) exposure; (2) experience; (3) knowledge; (4) understanding; (5) appreciate; (6) respect; (7) modify attitudes and behavior; and (8) healthy interaction. All of these are undergirded by tolerance (see Figure 5). The acknowledging diversity component of the diversity continuum is composed of steps (1)-(4), and they re? ect the ââ¬Å"attention tenetâ⬠of social learning theory. The valuing diversity component of the diversity continuum is comprised of steps (5) and (6), and is re? ective of the ââ¬Å"retention tenetâ⬠of social learning theory. Steps (7) and (8) constitute the managing diversity component of the diversity continuum and the ââ¬Å"reproduction tenetâ⬠of social learning theory. The movement through each of the eight steps requires individuals to progressively develop appropriate skills to enable them to manage how they deal with individuals whom they consider different from themselves. Therefore, executing the eight steps in the managing diversity process serve as the necessary movement required to progress from acknowledging and valuing diversity to managing diversity. The true movement through the eight steps from acknowledging diversity to managing diversity is a paradigm shift, in that it entails a change in the treatment of diverse individuals (Fitzpatrick, 1997). Managing diversity 873 Diversity training In order for an organization to realize the potential bene? ts that can be afforded by employing diverse individuals, there needs to be a paradigm shift in which the inputs of diverse individuals are systemically managed within an organization to enable the successful accomplishment of its strategic goals. Training of individuals is viewed as a necessary tool to facilitate the organization in achieving its goals. Diversity training should be viewed no differently than any other type of training in which an organization invests. Therefore, it should also be viewed as a necessary tool to manage membersââ¬â¢ behaviors and their ability to work productively with diverse individuals. After canvassing the literature, it has been noted that most diversity training programs merely raise individualsââ¬â¢ awareness of or sensitivity to diversity (Grubb, 1995; Jenner, 1994). Some few diversity training programs go as far as attempting to change individualsââ¬â¢ perceptions of diversity and how they communicate with people different from themselves (Grubb, 1995). However, these programs tend to be offered to only select employees, and they tend to be short in duration, ranging from a one-hour session to a series of one-day sessions several times a year (Koonce, 2001). The major drawbacks to most existing diversity training programs are that: . they do not build skills to facilitate individualsââ¬â¢ ability to actually manage their interactions with individuals different from themselves; . they are not rigorous nor time-intensive enough to create a paradigm shift in individualsââ¬â¢ treatment toward individuals different from themselves; and JMD 22,10 874 Figure 5. The continuous managing diversity process . there are no enduring reinforcement mechanisms embedded in the organizationââ¬â¢s culture to ensure all individualsââ¬â¢ inputs are successfully managed to met the organizationââ¬â¢s strategic goals. Managing diversity As a result, most (if not all) existing diversity programs have not been successful in creating enduring change in the way individuals interact with individuals different from themselves, nor have they been successful in changing their organizationââ¬â¢s culture to one that systemically manages diversity. In order to create enduring change in individuals and the organizationââ¬â¢s culture, members of the organization at all levels need to participate in diversity training that encapsulates the comprehensive managing diversity process. The outcomes that should be expected from participation include, but are not limited to, skill building in the following areas: the ability to clearly articulate their ideas and feelings; con? ict management skills; effective giving and receiving of feedback; effective listening; group observation skills; and group decision-making skills, all of which will facilitate modi? d attitudes and behaviors, and healthy interaction with diverse individuals. Individuals have to come to grips with their feelings, thoughts, attitudes, and behaviors toward diversity and others with whom they are different. In the ? rst step of Exposure, individuals provide public notice of where they are at that point. They do this by: laying open who they are; divulging where the y are; unmasking themselves; and receiving othersââ¬â¢ culture. Step (2), experience, involves gathering information through personal involvement, encountering, seeing ? rst-hand, and living through events. In the third step of Knowledge, individuals become well informed, thus able to be conversant because they become familiar or acquainted with the culture of others. Knowledge serves as the basis for step (4), understanding. Because of their grasp of cultural realities, individuals are able to comprehend (understanding) relevant cultural dynamics, which leads them to be sensitive, and enables them to share unique insights and perceptions. In step (5), appreciate, individualsââ¬â¢ acceptance of the worth of a personââ¬â¢s culture and values makes it easier for them to welcome and ââ¬Å"justlyâ⬠estimate diverse individuals. Resultantly, individuals are able to respect (step (6)) diverse individuals; thus, they are able to pay attention, pay deference, and pay tribute to the values, worth, and culture of diverse others, as well as give personal consideration to the diverse individuals. Successful movement through the ? rst six steps, along with tolerance underpinning each step, should lead to modi? cations in individualsââ¬â¢ attitudes and behaviors toward diverse individuals, which is step (7), modify attitudes and behaviors. This change in attitudes and behaviors, again, along with tolerance should lead to healthy interaction (step (8)) with and amongst diverse individuals. Step (8) is a function of continuous acceptance and execution of steps (1)-(7). Therefore, this is a ? uid (not static) process that must be recognized for its ever-changing and 875 JMD 22,10 876 evolving nature. The requirements for successful execution of the managing diversity process are strenuous and time intensive because it requires individuals to modify their attitudes and behaviors. Thus, they must modify the way they interact with individuals different from themselves, and not just expect that they either avoid, acknowledge, or value those individuals that are different. Given that all individuals in todayââ¬â¢s global business environment are likely to encounter others that are different from themselves on a frequent basis, the managing diversity process should be viewed as analogous to the open systems approach ââ¬â it is a continuous process that maintains a constant reciprocal relationship with the environment. Refreezing the systemic management of diversity Successful movement through the managing diversity process requires individuals to change. Resistance to change is inherent in any change process, and it will be no different in this process (Harrison, 1994). Therefore, the managing diversity process is a ? uid, continuous process that needs to be systematically reinforced and embedded in the organizationââ¬â¢s culture and individualsââ¬â¢ interactions, such that the organizationââ¬â¢s culture and its members do not revert back to just acknowledging or valuing diversity. Hence, refreezing the desired state of managing diversity requires reinforcing the new perceptions, attitudes, and behaviors with emphasis on the modi? ed behaviors and healthy interactions individuals have adopted as a result of going through the managing diversity process. In order for individuals and organizations not to revert back to their previous states, the new desired state must go through the refreezing stage to be institutionalized. This should be accomplished through systemic, on-going training and daily interactions at the individual level, and through revised policies, procedures, and systems at the organizational level. At the individual level, the systemic, on-going training should not be just periodic training that merely exposes individuals to diversity. A great deal of time is necessary to cement these newly adopted attitudes, behaviors, and skills for healthy interaction. This kind of cementation is required for these newly acquired attitudes, behaviors, and skills to become totally embedded in the individualsââ¬â¢ natural way of interacting with diverse individuals. The systemic, on-going training needs to be skill-based and experiential in nature to promote long-term changes in the way individuals work with individuals different from themselves. This type of reinforcement at the individual level will contribute to the cultural reengineering that also must take place at the organizational level. To reinforce the desired state of managing diversity at the organizational level, revised recruiting, appraisal, development, and reward systems, as well as an enforceable diversity policy need to be implemented (Allen and Montgomery, 2001; Hemphill and Haines, 1998; Miller, 1998). The revised policies, procedures, and recruiting, appraisal, development, and reward systems need to re? ct the organizationââ¬â¢s position on how the inputs of diverse individuals will be managed, such that their contributions fully aid the organization in meeting its strategic goals. A written, enforceable diversity policy, stating the systemic action steps and behaviors expected by all employees is a must as it relates to effectively managing the organizational inputs of all individuals. Everyoneââ¬â¢s inputs should be effectively managed to contri bute to the achievement of the organizationââ¬â¢s strategic goals. The revised policies, procedures, and systems should also align with the planned change-corporate diversity strategy. Given the resources and time required to revise and initiate implementation of the revised organizational policies, procedures, and systems, individuals are likely to resist these changes initially. Therefore, it is quite likely to be a dif? cult and time-consuming process to make the appropriate and necessary revisions to the organizationââ¬â¢s policies, procedures, and systems. This is an essential and critical step necessary to ensure the organization and its members do not revert back to their previous attitudinal and behavioral states. It is paramount that revised policies, procedures, systems, and planned change-corporate diversity strategy are clearly communicated to all members of the organization to ensure that it can be appropriately recognized, executed, evaluated, and reinforced. To reinforce this cultural reengineering effort, management needs to initiate and actively participate in the refreezing stage, the same as they must genuinely participate at the unfreezing and moving stages. Potential limitations As with any theoretical model, there are limitations. One potential limitation of this notional model is that no matter how well it is implemented, there are likely to be some individuals whose attitudes may never change or they may continue to consciously or unconsciously show favoritism toward those whom they consider to be similar to themselves (Gilbert and Ivancevich, 2000; Miller, 1998). Another potential limitation is that subtle forms of biases against diverse individuals may still exist informally within the organization and/or outside of the work environment; thus, highly impacting individuals within the organization. Backlash is also a potential limitation; members of the majority are likely to perceived that they are being excluded at the expense of including diverse individuals (Hemphill and Haines, 1998). Additionally, if the training initiated to implement the managing diversity process is perceived as a bad experience, the organizationââ¬â¢s leadership may abandon the initial implementation, hence dooming all future diversity efforts. However, by using the suggested planned change approach along with well enforced diversity policies and disciplinary procedures for violations of the diversity policy, it is more likely that individualsââ¬â¢ behaviors can be altered to be more tolerant of others whom they consider to be Managing diversity 877 JMD 22,10 different (Gilbert and Ivancevich, 2000). This will allow the talents, skills, and abilities of all individuals in the work setting to be used to meet organizational objectives. Conclusion Given that individuals are less willing to leave their differences outside the doors of the workplace (Thomas, 1991), an organizationââ¬â¢s ability to systemically manage diversity will become more important, in years yet to come, if it wants to ensure its ability to compete successfully in the global marketplace. This paper suggests that, ? rst, a planned change approach should be used to systemically manage diversity, by developing and implementing a planned change-corporate diversity strategy. Second, organizations should execute their cultural reengineering efforts to move individuals and the organizational culture along the diversity continuum from the states of acknowledging and valuing diversity to the desired state of managing diversity. Movement to the desired state of managing diversity can be achieved by using the managing diversity process. It is also suggested that the organization needs to provide on-going training, and needs to institute new policies and procedures. Additionally, it must engage in appropriately different recruiting, appraisal, development, and reward systems that systemically reinforce the cultural reengineering of moving to the state of managing diversity. These new undertakings will ensure that the newly reengineered culture of managing diversity is inculcated into the organizationââ¬â¢s culture, and its way of conducting business domestically and abroad. By adopting and executing the frameworks offered in this paper for ystemically managing diversity through a strategic planned change approach, managers will have created an organizational environment where they will be able to enjoy healthy, innovative, and productive interactions amongst diverse members of the organization. The following is a list of other potential bene? ts that may be derived from using the offered frameworks: . in general, individuals will develop an increased knowledge of and appreciation for other cultures; . individuals will learn to value and respect the cultural norms, behaviors, and attitudes of others; . here is likely to be a greater receptivity to necessary organizational changes; . there is likely to be a lessening of workplace anxieties; . a reduction in organizational con? ict; . a more pleasant work environment; and . increased performance and productivity. 878 In conclusion, the proactive management of diverse human resources will aid organizations in gaining and sustaining a competitive advantage in todayââ¬â¢s dynamic global marketplace.
Sunday, April 19, 2020
Role Of Greek Gods In The Illiad Essays - Trojans,
Role of Greek Gods In the Illiad With our view of God, it can sometimes be difficult to comprehend the actions and thinking of the Greek deities. The Christian God does not tend to take such an active role in the affairs of people's lives, where, on the other hand, the Greeks regarded direct involvement by the gods as a daily, uncontrollable part of life. Needless to say, divine intervention was a major variable in the equation of Homer's Iliad. The gods picked who they would favour for different reasons. Except Zeus: As the symbol of supreme authority and justice, he makes judgement calls as to the other gods' involvement in the war, remains impartial, and doesn't seem to get caught up in picking favourites. Even when his own son, Sarpedon, was about to die, Zeus chose to let the outcome go unaltered. On the other hand, Zeus's wife, Hera, displayed the more typical actions of a god. After Paris, a Trojan, judged Aphrodite the fairest over Hera, and, after her daughter Hebe was replaced as cupbearer to the gods by a young Trojan boy, she was quite resentful towards Troy and its people. Obviously she sided with the Greeks and would stop at no length to express her will. Scheming and manipulating she even dared to trick her husband, King of the Gods. Hera, along with Athena, who was also passed over by Paris, is seen as the chief divine aid to the Greeks. Being the god of the sea, Poseidon was another strong supporter of the ocean-faring Greeks. Whenever Zeus turned his back Poseidon tried to help the Greeks in the fight. Poseidon felt that he was somewhat Zeus's equal as his brother, but recognizing Zeus's authority and experience, he looked to Zeus as an elder. There were also Gods who favoured the Trojan side of the conflict. Both Apollo and Artemis, twin brother and sister, gave aid to the city of Troy. Although Artemis takes a rather minor role, Apollo, perhaps angered by Agamemmnon's refusal to ransom Khryseis, the daughter of one of his priests and was constantly changing the course of the war in favour of the Trojans. Responsible for sending plague to the Greeks, Apollo was the first god to make an appearance in the Iliad. Also, mainly because Apollo and Artemis were on the Trojan side, their mother, Leto, also helped the Trojans. Aphrodite, obviously supporting Paris's judgement, sided with the Trojans. Although she was insignificant on the battlefield, Aphrodite was successful in convincing Ares, her lover and the god of war, to help the Trojans. One view of the gods' seemingly constant intervention in the war was that they were just setting fate back on the right course. For instance, when Patroklos was killed outside of Troy, Apollo felt no guilt for his doings. It had already been decided that Patroklos would not take Troy, he should never have disobeyed Achilles in the first place. As a god, he was just setting fate on a straight line. Achilles laid blame on Hektor and the Trojans. He did not even consider accusing Apollo, who never came into question, although he was primarily responsible for the kill. Apollo's part in the matter was merely accepted as a natural disaster or illness would be today. This general acceptance of a god's will is a recurring trend throughout the poem. A prime example of this trend is in book XXIV. Achilles, angry over the death of Patroklos brutally disgraced Hektor's body. Tethering Hektor's corpse through the ankles, Achilles dragged him around Patroklos's tomb every day for twelve days. This barbaric treatment was uncalled for and displeased the gods greatly. Achilles mother, Thetis, was sent by Zeus to tell him to ransom the body back to the Trojans. One may think Achilles would be possessive of the body and attempt to put up a fuss as he did before with Agamemmnon in Book I. But, Achilles showed humility and respect for the gods and immediately agreed to ransom the body to the Trojans, showing that all mortals, even god-like Achilles, were answerable to the gods. This ideology would seem to give the gods a sort of unlimited freedom on earth,
Saturday, March 14, 2020
Native American Mythology Essays
Native American Mythology Essays Native American Mythology Essay Native American Mythology Essay In order to preserve their history, traditions, and culture, Native Americans passed their myths by word of mouth (the oral tradition). Native Americans who were particularly good storytellers emphasized that the myths being orated should be shared with future generations. Some common themes in Native American myths would have explanations on how the world was made, where people came from, and the physical and social development of those people. The social evolution of the Navajo people is an important subject in the Navajo creation story, Dine bahane. The first beings, according to the Dine bahane, were essentially illustrated as insects; these beings were called the Air Spirit people. The Air Spirit people have not yet fully established themselves as an organized and central civilization due to the fact that they are always committing adultery with one another and usually fighting afterwards. Because they were incapable of adhering to the rules society mandates, the Air Spirit people were exiled from each society they traveled to. Only in the last, final society they encountered did they learn to cooperate with one another by ultimately following the statutes that forbid adultery. This lesson represents the social evolution of the Air Spirit people because they realized that by following the rules society mandates, peaceful social order could be maintained. Also, in Dine bahane, the argument between First Man and First Woman about who gets credit for the meal concerns gender roles. As a result, First Woman states that women could get along without men, and so they separate. The separation of men and women, which is divided by the river, clearly illustrates one infamous saying that ALL women can attest to: ââ¬Å"Men. You canââ¬â¢t live with them, and you canââ¬â¢t live without them. â⬠The same saying can apply to men as well; whether you like it or not, one gender just cannot live without the other. The women in Dine bahane did not fare well and were on the verge of starvation without the men to hunt the food for them. On the other hand, the men were unable to have children unless the women were present. The absence of one gender could lead to another genderââ¬â¢s downfall, as shown as a result of the argument between First Man and First Woman. However, they reconciled their differences by establishing the gender roles within their society: men hunt, women cook. Both responsibilities were significant in order for both genders to get along and survive; thus, the Navajo people are assured of their societal growth as long as social order is maintained. To sum up everything, n order for the Air Spirit people to peacefully co-exist, they needed to abide by the rules that their society mandated and not go off on their own tangents. The argument between First man and First Woman clearly illustrates that both genders need to accept their traditional roles in order to further enhance their societal growth. In conclusion, the recurring theme of social evolution in Dine bahane is important because although a myth, it elaborates on how the Navajo people maintained and improved their social de velopment.
Thursday, February 27, 2020
Radio Broadcasting Essay Example | Topics and Well Written Essays - 1000 words
Radio Broadcasting - Essay Example After the American government stepped in to regulate this air traffic of signals by allotting licensed frequencies to the private operators, the era of commercial broadcasting came into being and led to a perceptual shift in the American culture. The men and boys saw the experimentation with radio as a symbol of masculine prerogative, brought it into their homes, and introduced it to the other family members. The listeners discovered the new face of their individual identities, closely linked to the idea of cohesive nationhood, through broadcasts of diverse entertainment programs and news items. Gradually, commercial reasons led to the introduction of advertisements interlaced with the main items, as well as standardization of broadcast timings, for most of the programs. With this it was possible for listeners to tune in to multiple broadcasts by adjusting their own schedules accordingly. The network programs allowed people to sit and listen to their favorite serials, like the women's serial drama nick named "soap opera", at the same time everyday or every week. This created a sort of customer loyalty as far as the programs were concerned, and a gradual shift in the cultural habits of the audience. The advertisements which were interwoven along with the main program also created a loyalty towards the products which were advertised. These factors permanently altered the social habits of the American society. Impact of Radio on large media companies: With the rise of compulsive consumerism brought about by the radio transmission of popular programs and advertisements, large media companies like NBC, and CBS sensed big business opportunities. The individual broadcasting stations got affiliated to national networks or were absorbed by big broadcasting chains, so that they could benefit from the economies of scale. The broadcast time was gradually increasing, By the middle of 1930's, many stations were using an airtime of 12 to 18 hours per day. This made it necessary for the broadcasters to fill the expanded airtime with variations of program types already developed. The large companies like NBC and CBS, also had to develop newer varieties of programs, like live performances by orchestras, talk shows, soap operas, and afternoon serial dramas. For this, they had to develop their own recording studios. Transcription, or pre-recorded music was also in vogue. To cut costs, these large companies bought the prerecorded music from transcription firms. The big companies were better placed financially, so they could command better quality of transcriptions, and also could afford to hire the best performers for their live shows. Although music was dominating the air time, emphasis by the network broadcasters was on transcriptions and not on classical music, whereas NBC could manage to broadcast a symphony orchestra with eminent musicians like the conductor of New York Philharmonic for many years, as opposed to the network operator who were mainly using transcriptions of music performances by local artistes. Similarly, CBS hired the services of actors, writers, poets etc to continue with high quality dramas and talk shows. Thus, the large media firms, who entered the broadcasting market, were able to continue with
Tuesday, February 11, 2020
Liquidity Function Essay Example | Topics and Well Written Essays - 1500 words
Liquidity Function - Essay Example Liquidity preference is the desire to hold cash. The money in cash and the rate of interest which is demanded in exchange for it is a "measure of the degree of our disquietude (ICFAI Center for Management Research (ICMR), 2005)." The rate of interest, in Keynes' words, is the "premium which has to be offered to induce people to hold the wealth in some form other than hoarded money." The higher the liquidity preference, the higher will be the rate of interest that will have to be paid to the holders of cash to induce them to part with their liquid assets. The lower the liquidity preference the lower will be the rate of interest that will be paid to the cash-holders. Transaction Motive: This motive is related to the "need of cash for the current transactions of personal and business exchanges." It is further divided into the income and business motives. The income motive is meant "to bridge the interval between the receipt of income and its disbursement", and similarly, the business motive is "the interval between the time of incurring business costs and that of the receipt of the sale proceeds." Precautionary Motive: The precautionary motive relates to the "the desire to provide for contingencies regarding sudden expenditures and for unforeseen opportunities of advantageous purchases." Banks keep cash in reserve to meet unexpected needs. Individuals hold some cash to provide for illness, accident, unemployment and other unforeseen contingencies. Money under the speculative motive is for "securing profit from knowing better than the market what the future will bring forth." Liquidity Vs Profitability Short run trade-off exists between liquidity and profitability. Other things remaining constant, the more liquid a bank the lower its return on equity and return on assets (The Banker, 2004). Both asset and liability liquidity contribute to this relationship. Facts about liquidity of a bank: The more liquid a bank, the less profitable the bank Liquid assets earn less than illiquid assets. The shorter the maturity, the lower the yield. The highest yielding loans are loans with the highest default or interest rate risk and are therefore the least liquid. Asset liquidity is influenced by the composition and maturity of funds i.e. the ease with which a bank can convert assets to cash with a minimum loss (Comptroller of the Currency Administrator of National Banks, 2001). Large holdings of cash assets evidently decrease profits because of the opportunity loss of interest income. In terms of investment portfolio, short-term securities yield lower returns compared to long-term securities. As investors value price stability and therefore long-term securities pay a yield premium over short term securities, to induce the investors to extend their holding period. For banks that purchase short-term securities, this increases the liquidity but at higher potential returns. For example, in an environment where market expectations are constant for short-term treasury yields, the treasury yield curve will slope upwards, reflecting liquidity premiums that increase with maturity. A bank's loan portfolio displays the same trade-off where the loans carrying the higher yields are the least
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