Recent Balance Scorecard Theory Practices of Bangladeshi Company free essay sample

Abul Kashem, Associate Professor , Department of Management information system, University of Dhaka for providing us all the information about information technology, for his guidance, constructive criticism, valuable suggestions and untiring help throughout the course of this work. I am highly delighted to express our cordial gratitude and veneration to our parents for their constant help, affection support and sacrifices. The Author December 26th , 2011 Letter of transmittal Date: 26/12/2011 To, Md. Abul Kashem, Associate Professor Department of Management Information System, University of Dhaka. The study attempts to measure organization’s perception on learning and growth with the help of Balanced Scorecard model in a multinational firm of Bangladesh. That is to say, in this paper it has been shown how a proper and effective knowledge management can make possible the organizations financial success that can be revealed using the Balanced Scorecard (BSC) framework. Additionally, the perception about knowledge management, its linkage to the BSC and its usage has been identified. We will write a custom essay sample on Recent Balance Scorecard Theory Practices of Bangladeshi Company or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Primary data collected for conducting this empirical research was carried out through survey method using structured questionnaire. Data were then analyzed with the help of bi- vitiate and multi-vitiate techniques of statistics. Empirical results of our study suggest that learning and growing organization is one in which knowledge management activities are deployed and expanded with a view to leverage the creativity of all the people in the organization The result also evidenced that BSC, as a strategic performance measurement tool, helps in strategic management by linking some strategically significant, relevant, and interrelated measures or indicators with organizational emphasis on knowledge and learning initiatives . Keywords: Financial Perspective, Customer perspectives, International Business perspective, Learning Growth, Bangladesh. Executive summary: Management translates its strategy into performance measures that employees understand and accept is called The Balanced Scorecard. Kaplan and Norton describe the innovation of the balanced scorecard as follows: The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation. Balance Scorecard has four perspectives: . The Learning Growth Perspective 2. The Business Process Perspective 3. The Customer Perspective 4. The Financial Perspective In early-style Balanced Scorecards are hard to design in a way that builds confidence that they are well designed. In the mid 1990s, an improved design method emerged. In the new method, measures are selected based on a set of strategic objectives plotted on a strategic linkage model Because of this, many are abandoned soon after completion.

Free Essays on Essence

Free Essays on Essence I've always believed in numbers, in the equations and logics that lead to reason. And after a lifetime of such pursuits I ask, what truly is logic? Who decides reason? My quest has taken me through the physical, meta-physical, the delusional and back. And I have made the most important discovery of my career. The most important discovery of my life. It is only in the mysterious equations of love that any logical reasons can be found. I'm only here tonight because of you. You are the reason I'm. You are all my reasons. Thank you......

With reference to your own research, do you think that the ability of Essay - 2

With reference to your own research, do you think that the ability of a business to act successfully in a socially responsible manner is mainly determined by the products it produces - Essay Example e the growing significance of Corporate Social Responsibility and issues of sustainability for consumers, a study by Reputation Institute (2014) indicated that about 60% of consumer perceptions othe companys reputationon determine the consumers’ willingness to work for, invest, or recommend a company while 40% is due to the consumers’ perception of the product or services sold by that company. For this study, the major considerations are the main benefits of CSR in relation to costs for the business; the significance of CSR in relation to other objectives; the major determinants of responsibilities that are accepted by a business and those that are not; the factors that determine the extent to which business is socially responsible, and the extent of government influence on CSR,. At Microsoft, there is a continuing commitment to work to fulfil public responsibilities and to serve the needs of people in communities worldwide. However, for Microsoft, the fundamental obligation is the role Microsoft serves as an accountable universal corporate citizen (Smith, 2012). In addition, Microsoft earned the best CSR reputation through initiatives such as Citizenship Leads throughout the world working every day in collaboration to with a huge stakeholder’s base and with regards to numerous issues crucial to local communities. Microsoft Green is also another CSR initiative aimed at emphasizing Microsoft’s Environmental Sustainability Team. In order to implement its CSR initiatives, Microsoft works with investors, non-profits, governments, and other organizations, including the Boston College Center, CSR Europe, Net Impact, World Economic Forum, and Clinton Global Initiative. For more than 51% of Google consumers across the 15 universal markets, working at Google is great (Smith, 2013). With such perceptions, Google has managed to successfully establish a caring perception around the world to ensure that they are a company that not only treats people well, but one that

What major problems did European States face in the fourteenth century Essay

What major problems did European States face in the fourteenth century - Essay Example The population of Europe had reduced by a half by the time the 15th Century set in as compared to the mid 1300s. The problem of this Black Death plague affected Europe in that there was shortage of labor since smaller portions of land were under cultivation. Due to the shortage of labor the serfs got a vantage position when it came to bargaining their wages since they were in high demand. In reaction to this, the governments tried to control the wages by fixing them. However, this was all in vain since the predicament of labor shortage continued to persist. Serfs would simply offer their services to the landlords who would be ready to pay higher wages as opposed to those who stuck to the system set by the government. Numerous peasants called for the society’s restructuring and there was the demanding of a bit of democracy as well as the stoppage of aristocratic privileges and rights. After the dismissal of these demands for a better lifestyle by the nobility there was a great loss as regards the commoners. There was fiasco everywhere in Europe and thus the Rebellion in France and England in years 1358 and 1381 respectively were just a shadow of the real deal. All the rebellions were not a success. The separation of the manor approach to agriculture started as a result of the rebellions, though. The land rent system took over and the subsequent period after that had the peasant’s freedom recognized. The system is still there in the day-to-day Europe. However, the demand by the peasants to own their land resulted to a lot of migration to other areas like Australia, Russia, Americas and Africa. Land was never adequate and thus sharing it among sons would lead to decisions that were not economically feasible. High wage levels led to a rise in inflation levels and for survival purposes the small commercial and manufacturing classes made an attempt to maintain the position that

Identifying Fallacies Essay Example | Topics and Well Written Essays - 1000 words

Identifying Fallacies - Essay Example In this regard, a rosy picture of Iraq is painted so as to hide the fact that armed battle was going on in that country. The use of the words "brutal, calculating and instructive" already suggests prejudice. These biased terms are used so as to justify to the American public and persuade people to positively perceive the Administration's decision to wage a war on Iraq. One of the programming companies, which develops anti-virus for computers, came up with an internet advertisement that shows all the files in your computer being deleted when one clicks an "OK" button on a pop-up screen. "We've also seen images of a young American facing decapitation. This vile display shows a contempt for all rules of warfare." - President George W. Bush (Remarks by the President on Iraq and War on Terror, 2004) In his speech, President Bush painted images of an American being decapitated. In this regard, he rouses the public to feel pity for the young American and at the same time provokes anger so that the people will feel the urge to fight back. An example is given by Freeman (1987) in The Courier-Journal wherein Barry Schweid of the Associated Press generated a report from a group from Stanford University that claimed to find diminutive proof of cheating by the Soviet Union on arms control-treaties. This appeals to false authority, which in this case is the group from Stanford University, a highly prominent organization. The credibility of the reports and validity of claims are established only because its was produced by a team from an Ivy League school 2.4. Appeal to Bandwagon "Why should you feel guilty for seeking your own happiness when that's what everyone else is doing" - Harry Browne (The Unselfish Trap) This statement is clearly an appeal to bandwagon because it justifies the correctness of an action to the perception that "everyone" is doing the same. 2.5. Appeal to Prejudice "These elements of Saddam's repressive regime and secret police have reorganized, rearmed and adopted sophisticated terrorist tactics. They've linked up with foreign fighters and terrorists" - President George W. Bush (Remarks by the President on Iraq and War on Terror, 2004) This statement aims to discredit Saddam's group by bringing up its linkage to foreign fighters and terrorists. The problem is no sufficient evidence is presented to support the soundness of the claim. Note that the primary reason of US invasion of Iraq is the presence of weapons of mass destruction as "proven" by intelligence report. However, these other issues are also brought up to appeal to

Analysing Management As An Art And A Science Philosophy Essay

Analysing Management As An Art And A Science Philosophy Essay Discuss this statement in relation to whether management could be described as a profession. Is management characterized as an art ,as a science or both? In order to investigate the nature of Management, it would be useful firstly to define it. According to Drucker Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant. This is what organization is all about, and this is the reason why management is the critical, determining factor (Drucker,2001, pp.10). Nowadays, practically everyone works for a managed institution, large or not, business or not. Our living actually depends on management. The ability we have to contribute to society, depends firstly on the way, the institute we work for, is managed and furthermore on our own abilities, devotion and effort. For years now, there has been a great debate on whether management can be characterized as a science or as an art. Some of the most important authors that tried to examine if management is an art or a science are Lester et al. (1998), Watkins (1993),Bohn (1994), Calkins (1959), Schiemann and Lingle (1997), and Weick (1996). This essay focuses on the studies that have been conducted on the nature of management, and its purpose is to reveal if management is an art, a science, or a combination of them, in relation to whether management could be described as a profession. We will try to answer that, by discussing the insufficiency of the technical approach to professional knowledge for dealing with real-world situations, but before that it would be interesting to examine the evolution of managerial discourse since 1870. According to Barley and Kunda ( 1992) even though serious theoretical and political differences existed, scholars have merged on a common theory of how American managerial notion has evolved. During the first stage, which terminated in the late 1800s, managerial discourse sought to legitimate coercive shopfloor practices ( Nelson, 1975). This phase was characterized by abusive control and threats of violence. By the turn of the century, early forms of mass production and a flourish of corporate merging had prepared the ground for a second phase, during which utilitarian rhetorics became increasingly popular (Wren, 1972). Accomplishing the work of Frederick Taylor, rational theories of management conquered managerial discourse by World War I(Bendix, 1956). The manpower was now supposed to be more effectively controlled by contouring production processes and by attracting the workers self-interest. According to Bendix (1956) the Depression is widely held to mark the beginning of the th ird phase. As the white-collar labor force was gaining more power, managerial discourse began to emphasize normative control : the idea that managers could more effectively regulate workers by attending not only to their behavior but to their thoughts and emotions. (Barley ,Kunda, 1992,pp.364 ) They believed that by approaching both the mind and the heart of the workers , management could reach the most subtle type of control: moral authority. The succession of Managerial Ideologies since 1870 Ideology Era of ascent Tenor Industrial Betterment 1870- 1900 Normative Scientific Management 1900- 1923 Rationale Welfare capitalism/Human relations 1923- 1955 Normative Systems rationalism 1955- 1980 Rational Organizational Culture 1980- present Normative (Barley,Kunda,1992, pp.364) It is a fact that science and art are very different in nature. According to Gao (2008) art is viewed as: the use of imagination to interpret feelings and ideas, particularly in painting, drawing sculpture, or the skill of creating objects such as paintings or drawings, especially when studying art. In reality, art has nothing to do with objectivity. It relates to collective, mostly, individual subjectivity. So can management really be the very antithesis of the use of a body of rigorous professional knowledge? According to Spender ( 2006) many writers, like Mintzberg (1976), point to management as an art form. Although management apparently has imaginative and artistic aspects, this is not really the point .The point here is to contrast rational way of decision making against intuitive creation. to imply that it might be more useful to think of business leadership as something other than cold, objective reasoning (Mintzberg, 1976). This is why, according to Richardson (2008 ) managers need to study philosophy. Repeatedly, managers have to be able to decide which data they need in order to make a decision, to interpret this theory and even choose what its purpose really is. This is not unexpected, if you take into consideration that many academic books on the topic often lack any practical suggestions. Philosophy is a study that inspires personal choice, and in management choices thrive. So, effective managers should know when a decision has to be based on principle and when it should be made logically , depending on each case. According to Drucker (1998) managers need impact rather than technique, and they prefer to be sound rather than clever; they know the trickiest part is to choose between the right and the wrong compromise , and they have learned to tell the difference from one another. Anyhow, in management, the most time-consuming part of the process is not taking the decision, but making it effective, a nd this is when the ability to manage through discontinuity, to be able to detect changes but also to recognize patterns and be able to focus on those things that do not change, is needed.(Mintzberg, 2004) Management as an art is an amazing but natural expression of human behavior (Peroff,1999). According to Bolman and Deal( 1997), managers are both artists and leaders who are able to develop exceptional solutions and fresh ideas about their organizations needs. They adjust to people and events around them and learn to expect the chaotic twirls and turns of managerial life. Artistry in management is neither exact nor precise. Artists interpret experience and express it in forms that can be felt, understood, and appreciated by others. Art allows for emotion, subtlety, ambiguity . An artist reframes the world so that others can see new possibilities(Boleman and Deal, 1997, pp. 17). To sum up, a significant group of people think of management as an art. In reality, management personalities, like Microsofts William Gates and GEs Jack Welch, and their top-down managerial strategy, have enhanced this idea (Nonaka and Takeuchi, 1995 ). Gao (2008) argues that the reasons are not only because these people have supported or have gone over the top about personal intuition and other personal irrational factors such as emotion and intuition in decision-making and management, but also because no management theory or approach can assure successful practical accomplishment of a social or economic organization in practice. So, as we already mentioned, effective management can be considered as an art the art of getting things done through people. Thinking of management as an art is possibly more productive, because it identifies management as something more than just a set of unambiguous techniques. Management as art implies inventiveness rather than conformity, practice rather than mere prescription, wisdom rather than mere knowledge. ( Evered, Selman, 2001 , pp.17 ) Science, on the other hand, even though there is no commonly agreed definition for it, is viewed as knowledge about the behavior and structure of the world, based on facts. However, according to Gao (2008), even though there is no body with the authority to define science, and there are various discussions about its definition, its nature and its motive in philosophy of science, everybody agrees that science is based on rational assumption and experimental orientation. . Science is the organized , systematic enterprise that gathers knowledge about the world and condenses the knowledge into testable laws and principles(Wilson, 1998,pp. 53). Polany suggested that post critical philosophy emphasizes the creative subjective aspect of scientists in the process of creating knowledge, but considerable collective subjectivity, objectivity, rationality and logic are necessary in science (Polany, 1958). According to Wilson(1998b) science involves the expansion of sensory capacity by instruments , the categorization of data, and the analysis of data guided by theory. Science , is extraordinary . With the aid of science , we can visualize matter across 37 orders of magnitude, from the largest galactic cluster to the smallest known particle.(Wilson, 1998a, pp.47) As long as science is used properly it can be really useful for everybodys everyday life. Management as a science was firstly characterized by Frederick Taylor (1911) and Gulick (1937). Scientific Management considered employees as tools for the achievement of organizational goals. Frederick W. Taylor believed that with the help of time and motion studies he could find out the best way for the accomplishment of a task and that workers should be very pleased that were imposed to do precisely what they were instructed. The needs of the organization were separated from the needs of the individual. In Peter Druckers ( 1998) words, Frederick W. Taylor was the first man in recorded history who deemed work deserving of systematic observation and study; on Taylors scientific management rests, above all, the tremendous surge of affluence in the last seventy-five years which has lifted the working masses in the developed countries well above any level recorded before, even for the well-to-do. Frederic W. Taylor, though, placed the main foundation, however, not much has been added to them since even though Taylor has been dead for over sixty years. Another important school of taking management as a science comes from the area of systems science. Ever since the 1940s, Churchman and Ackoff, based on Singers experimentalist philosophy, have tried to establish an Institute of Experimental Method for dealing with societal issues in areas such as city planning and business management (Ulrich, 2004). Churchmans social systems design and Ackoffs social systems science can be seen as typical representatives of the scientific school, although Ackoff believes that mess management is an art and a science. (Churchman, 1955, 1971, Ackoff, 1979). Even though the answer, to if management is an art or a science, could be both, either or neither. Some people think management is indeed a science, because of the scientific principles and rules that exist(like Taylors scientific management theories and Webers administration of social and economic organization) and that can be applied for improving the productivity and efficiency of organizations, profit or nonprofit, private or public (Taylor, 1911; Weber, 1947). According to Lester(1998) creative arts and science are very different from one another . Scientific knowledge is useful to us because it provides us with objective, verifiable knowledge about the real world around us. (Wilson, 1998) Art, however is also beneficial but in a different way. According to Lester (1998) art is in tune with our underlying human nature , which Wilson (1998) argues that is an inborn ensemble of instinctive rules that rule our behavior. But do managers today combine art and science at work? The severity of the management science utilization problem may be a result of an imbalance in the work of management scientists: too much science; not enough engineering ( Gruber, Niles, 1969). With the improvement of science so should also be improved the practical application of science. Even though the turns of organizational life are extremely complex and intangible, the knowledge and the available management theory could certainly contribute to the improvement of managerial practice. Mason Haire (1967, p. 110) in his Douglas McGregor Memorial Lecture observed: hen I say the contribution of the behavioral sciences to management has been disappointingly small, I mean this: in the past 15 years there have been perhaps 150 books and 1,500 articles written on the subject. And yet the practice o £ management remains about the same. It is obvious that in management, a severe strain exists between the promises of scientific methods and the realities of practice. At a time when management is becoming more scientific, friction should be expected in the relationship between the practitioners of the art and the advocates of the new scientific knowledge. (Gruber and Niles,1969, pp. 12) So it is obvious that management combines both science and art. According to P.F. Drucker management is thus what tradition used to call a liberal art liberal because it deals with the fundamentals of knowledge, self-knowledge, wisdom, and leadership; art because it is also concerned with practice and application . Managers draw on all the knowledge and insights of the humanities and the social sciences- on psychology and philosophy , on economics and history , on ethics as well as on the physical sciences. But they have to transform this knowledge on effectiveness and results. The effective practice of management requires a mixture of science and art; that is, a blend of rational objectivity and intuitive insight. Both views of management, as a science or as an art, can provide ample evidence to support their viewpoints, and they all seem correct and reasonable from their perspective. However, some people also think management is neither a science nor an art, but a political game. The criterion is in the mind of the speakers ( Nonaka and Takeuchi, 1995). According to Nelson and Winter (1977), professional knowledge is also, neither fully scientific , nor fully a skill or routine, but a combination. It articulates of science, personal skill and experience and organizational routine. It is the function of the professional to act as an interface between routine and science. It is the professional who employs the heuristics in order to search, judge and choose routine in the path of problem solving. ( Tordoire , 1995) When it comes to management and the use of professional knowledge in business practice, managers have to do without those guidance facilities and manuals, that are so vital for the management of capital, land, entrepreneurship and labour, simply because such sources do not exist. According to Igor Ackoff (1979), educating managers and experts to use experts is one of the great challenges in modern business. In every day business practice, however, trial and error is still the common way to learn about managing and using professional knowledge (Tordoir,1995). But is management really a profession? Management has a long history of trying to establish itself as a profession and securing similar influence (Lowell, 1923). In the nineteenth century, professions and professional organizations emerged from a variety of traditionally learned occupations-generally those that required substantial theoretical knowledge and training, such as medicine, law, and science. Professionalization describes the procedure of uniting diverse practitioners under a set of homogeneous norms or rules, including the emergence of standards of certification, ethics, the development of self-governing associations, and the pursuit of legal recognition and protection (Hofstadter, Richard, and C. Dewitt Hardy, 1952). Professionalism and professions are dominant ideas and institutions. Sociologists and economists have recognized professions as an important division of the industry and professionals as an essential part of the labor force. Professions carry not only a financial implication but also a cultural importance. They often occupy the highest status positions in an occupational hierarchy. In cultural terms , they are carrie rs of important societal norms and values concerning such matters as the relationship between knowledge and power and the maintenance of trust (Khurana , 2007,pp.4 ). According to Spender (2006) the idea of management as a Profession refers to a group of people whose practice is shaped by training and credentialing against a proven and rigorous body of knowledge (Abbott, 1988 ). In this manner science has a long established a position of epistemic authority that clearly distinguishes its practitioners from amateurs, charlatans, soothsayers and the general public.( Watkins ,2006.) However, there are some critiques about professionals and professionalism in general. Some of the critiques are about the way the knowledge is delivered; Rakesh Khurana (2007) shows that university-based business schools were founded to educate a professional class of managers, in the style of doctors and lawyers but have effectively moved away from that objective, leaving a gaping moral hole at the center of business education and maybe even in management itself. Other critiques are attacks on the body of knowledge itself. Pfeffer (1993) was far from alone in his plea for increased disciplinary harshness, for some argue there is no rigorous body of managerial knowledge from which to teach and so no argument for management as a profession. According to Tordoir (1995) the professional character of knowledge is of course a matter of degree. Most critiques, however spot the gap between theory and practice, arguing that business school knowledge relates inadequately to the practicing man agers needs (Weick, 2001) . In what may still be the most significant study of managerial ideology, Bendix (1956) who wrote with great concern about the social-psychological aspects of work, argued that rhetorics of social Darwinism typical of the nineteenth century had gradually but steadily given way to the belief that managers could better secure compliance by shaping workers attitudes and sentiments. The practice of managing across governments and organizations overtakes both practical description and theoretical clarification. The business community has been suggesting that academicians should move out of the cut off, insulated world of the university and confront practical problems. Apparently, professions are defined, apart from a high level of professional skills and qualifications, by a wide variety of characteristics which also contain subjective values relating to ethics and values. Tordoir( 1995), argues that professionals have much in common with managers , they manage the organization of knowledge input in tackling a complex matter. Non-professional managers on the other hand do not employ heuristics based on science, as professionals do , but use experienced routines instead. If line managers do use heuristics based on science ,however ,they are by this definition indeed professionals in the field of management ( Tordoir , 1995). The professional is largely responsible for directing his own activities. Managers must take due account of this by applying rules and procedures on a modest scale and aiming to achieve maximum harmonization of the objectives of the organization and the personal objectives of the people working there. If they can do that then t here can be said to be professional management. .( Weggeman, 1989 ) These structures, the relative autonomy of professional work, and the high degree of prestige generally attached to professional activities differentiates professions from other forms of work and worker organization. Nevertheless, to mention the professional obligations of management executives is to imply that business management itself is a profession. But is it really? To the extent that different managers perform one set of basic roles, management satisfies one criterion for becoming a profession(Mintzberg, 1976), however sociologists who study the professions have engaged a wide range of viewpoints and criteria for determining what represents an occupation as a profession, which gives us the ability to compare management with what we take to be the bona fide professions, in particular law and medicine. ( Khuranha, 2007 ) According to Khurana, Nohria and Penrice (2005) The criteria for calling an occupation a bona fide profession are as follows: à ¢Ã¢â€š ¬Ã‚ ¢ a common body of knowledge resting on a well-developed, widely accepted theoretical base; à ¢Ã¢â€š ¬Ã‚ ¢ a system for certifying that individuals possess such knowledge before being licensed or otherwise allowed to practice; à ¢Ã¢â€š ¬Ã‚ ¢ a commitment to use specialized knowledge for the public good, and a renunciation of the goal of profit-maximization, in return for professional autonomy and monopoly power; à ¢Ã¢â€š ¬Ã‚ ¢ a code of ethics, with provisions for monitoring individual compliance with the code and a system of sanctions for enforcing it.( Khurana, Nohria, and Penrice, 2005, pp.4) Regarding the first criterion which is concerned with the body of systematized knowledge, there are significant differences between the science of management and the knowledge foundation of the traditional professions (Khurana, Nohria and Penrice, 2008). As far as the second criterion is concerned, according to Pfeffer and Fong (2002), management apart from not developing a body of knowledge comparable to those of the true professions, differs from these other occupations in lacking a set of institutions designed to certify that its practitioners have a basic mastery of a core body of specialized knowledge and can apply it judiciously; although the MBA has been the fastest-growing graduate degree for the past twenty years, it is not a requirement for becoming a manager (Pfeffer and Fong,2002). As far as the privileges that society grants to professions are concerned it should be mentioned that they exist in return for certain social benefits. The creation of these social benefits, in turn, creates certain restrictions on professionals. Because they own specific knowledge in areas of vital concern to society, genuine professionals are expected to place that knowledge at the disposal of all who require it and to provide services in a way that places the maintenance of professional standards and values ahead of the securing of individual advantage ( Khurana, Nohria and Penrice , 2008). Once again, not always things work like that in management, as many genuine professional managers seem to rest on the advantages their profession provides them with but forget about their responsibilities towards the public. The fourth and final dimension on which, management differs significantly from the true professions is that its members are not ruled by a communal normative code that is supported by institutions that promote loyalty and obedience to it. Such a normative code, whether known as a code of ethics or a code of conduct, is a vital characteristic of almost any work-r elated group that its purpose is to be seen as a profession. So we would argue, that management has succeeded in taking for granted many of the appearances and privileges of professionalism while escaping the restraints and responsibilities. Today, Khurana argues, business schools have largely capitulated in the battle for professionalism and have become merely purveyors of a product, the MBA, with students treated as consumers. Management education is also a huge and successful industry. Pfeffer and Fongs papers (2002) give us good numbers: Business schools employ thousands of people all over the world; more than 100,000 MBAs are awarded annually in the United States, and tens of thousands are awarded elsewhere; there are more thousands of executive and undergraduate business degrees, diplomas, and certificates being awarded, too (Pfeffer and Fong, 2002). Professional and moral ideals that once animated and inspired business schools have been conquered by a perspective that managers are merely agents of shareholders, beholden only to the cause of share profits. According to Khurana, we should not thus be surprised at the rise of corporate malfeasance. The time has come, he concludes, to rejuvenate intellectually and mor ally the training of our future business leaders. So finally, is management an art or a science? If Wilsons (1998) belief in a unified theory of everything is correct, maybe we should be asking a much larger question. Is a consilience of all of our ways of thinking about management possible? ( Peroff, N. ,1999) The famous physicist Louis de Broglie once said May it not be universally true that the concepts produced by the human mind, when formulated in a slightly vague form, are roughly valid for reality, but that, when extreme precision is aimed at, they become ideal forms whose real content tends to vanish away? (quoted in Cory, 1942). This suggests that we should use scientific understanding (not knowledge) to guide our decisions, not determine them, as such understanding is only correct in a loose sense.( Richardson ,2008, pp. 22) Management, even though it can be described as a profession, it should not be considered as a real profession because of all the lacks that we identified; however its nature combines both art and scien ce, just like professional knowledge should combine them. There is no doubt that, when properly implemented, scientific management can really increase efficiency, but efficiency should always be tempered with humanity, by all means, as management is ad hoc and instinctive, rather than structured and planned.

Essay --

â€Å"Currency devaluation is typically an event resulting from a policy (political) decision and is most often associated with the nations that elect to â€Å"fix† the exchange rate for domestic currency in relation to another nation’s (or region’s) currency or some other fixed standard† (Owen, 2005). In other words, devaluation occurs in a situation when a country is operating under a fixed exchange rate regime and its government decides to lower the value of its currency in relation to the currency it is pegged against. In the case of Venezuela, the bolà ­var fuerte is pegged against the US dollar. A government objective generally associated with devaluation is the improvement of a trade deficit. If a country’s imports are greater than their exports, devaluing their currency can help, as it reduces the â€Å"purchasing power of domestic money in terms of foreign goods and increases the purchasing power of foreign money in terms of domestic goods† (Johnson, 1971). This in effect means domestic goods (exports) become cheaper and imports become more expensive, resulting in an increase in the demand for exports, with a fall in imports, and hence improving the balance of payments. Being South America’s largest oil-producing nation, Venezuela receives most of its export income from this industry. It therefore comes as no surprise that devaluation is so attractive to their policy makers as increased demand for their oil exports would allow them to accumulate more domestic monetary resources. However, an implication of this policy has been the negative effect on th e poor who spend the majority of their income on food and other basic necessities that are mainly imported goods. With inflation averaging between 20-30%, this has meant that fewer goods are... ... cites the theory of Mundel(1960) and says that, " According to this theory, it is impossible to simultaneously have a fixed exchange rate, free capital movement (an absence of capital controls), and an independent monetary policy. In conclusion, a currency devaluation whose primary aim is to improve the balance of payments has both its advantages and disadvantages. In the case of Venezuela, it has done more harm than benefited the economy. Even if the government were to try and borrow, very few investors would be willing to hold Venezuelan government debt as it would be deemed very unattractive and risky. Devaluation has in many cases been known to reduce the credit worthiness of an economy on the global markets. In the end, it could also result in an out flow of investments as investors may feel that the risk is too high for them when they invest in Venezuela. Essay -- â€Å"Currency devaluation is typically an event resulting from a policy (political) decision and is most often associated with the nations that elect to â€Å"fix† the exchange rate for domestic currency in relation to another nation’s (or region’s) currency or some other fixed standard† (Owen, 2005). In other words, devaluation occurs in a situation when a country is operating under a fixed exchange rate regime and its government decides to lower the value of its currency in relation to the currency it is pegged against. In the case of Venezuela, the bolà ­var fuerte is pegged against the US dollar. A government objective generally associated with devaluation is the improvement of a trade deficit. If a country’s imports are greater than their exports, devaluing their currency can help, as it reduces the â€Å"purchasing power of domestic money in terms of foreign goods and increases the purchasing power of foreign money in terms of domestic goods† (Johnson, 1971). This in effect means domestic goods (exports) become cheaper and imports become more expensive, resulting in an increase in the demand for exports, with a fall in imports, and hence improving the balance of payments. Being South America’s largest oil-producing nation, Venezuela receives most of its export income from this industry. It therefore comes as no surprise that devaluation is so attractive to their policy makers as increased demand for their oil exports would allow them to accumulate more domestic monetary resources. However, an implication of this policy has been the negative effect on th e poor who spend the majority of their income on food and other basic necessities that are mainly imported goods. With inflation averaging between 20-30%, this has meant that fewer goods are... ... cites the theory of Mundel(1960) and says that, " According to this theory, it is impossible to simultaneously have a fixed exchange rate, free capital movement (an absence of capital controls), and an independent monetary policy. In conclusion, a currency devaluation whose primary aim is to improve the balance of payments has both its advantages and disadvantages. In the case of Venezuela, it has done more harm than benefited the economy. Even if the government were to try and borrow, very few investors would be willing to hold Venezuelan government debt as it would be deemed very unattractive and risky. Devaluation has in many cases been known to reduce the credit worthiness of an economy on the global markets. In the end, it could also result in an out flow of investments as investors may feel that the risk is too high for them when they invest in Venezuela.

Gen Y and Marketing

Along with other influences such as environment and social events, technology plays a large part in influencing their characteristics even more than it did with previous generation, in which technology has influenced all aspects the generation's lifestyle including behavior, learning, colonization, culture, values, and work (Taproots, 1998). Huntley (2006) points that the mobile phone is perceived as a personal communication device and fashion accessory for this generation, which became an extension of their own body.Topcoat's (1998) survey found, â€Å"two-thirds of the children were more refection on the computer then their parent's†. In addition, technology has influenced Gene-Y perception of time, space, and speed through immediate access to vast amounts of information and to a manifold of people within the reach of their fingers or the keyboard (Huntley, 2006). What is Marketing? Kettle (2001) states that people generally perceived marketing as an activity that involves w ith selling and advertising because they normally see marketing activities in term of advertisements and selling of products on TV, newspapers, internet, etc..However, Kettle (2001) explains that selling and advertising are only a part of arresting tools helping to increase awareness or stimulate consumer demand for a firm's product or service. Although these two activities (selling and advertising) are important, it may not always be true that they are more important than other marketing activities. In today business, Kettle (2001) suggests that the old marketing concept that perceived marketing as selling tool employed after a firm made product or service is not applicable.Successful businesses now focus on creating customer satisfaction, in which the marketing concept has been changed from creating trade to alluding a customer satisfaction. Therefore, Kettle (2001) points that marketing started before the production, in which a firm needs to understand customer's want and need, t o study market opportunity and a firm's competitiveness, and should be able to develop suitable strategies for its products and services at any stage in This process may involve product development, product pricing, choosing distribution channel and effective promotional tools.All of these activities aim to ensure that the product will not be difficult to sell and can be successful in the marketplace. In this sense, marketing is a tool that the firm used to motivate consumer to achieve its goal (Kettle, 2001). Gene Y and Online Marketing While technology has influenced all aspects Gene Yes lifestyle (behavior, learning, colonization, culture, values, and work), businesses are also noticing the technology demands of Gene-Y and use it to create customer satisfaction (Bernard, 2003).Focusing on the consumer behavior of Gene Y, Heaver (2008) states that â€Å"Today's younger, more ‘green' shoppers aren't going to waste precious money and gas going from store to store looking for Just the right item. They shop online whenever they can, narrowing their choices to one or two items-then go to the store to touch, feel, bounce and check out the actual product to see if it looks the way it was represented online†.In management point of view, Chaff eye (2005) defines online-marketing as the technological application using internet to facilitate marketing efforts for achieving organizational goals by increasing user knowledge. Raff et al. (2002) stated that â€Å"The aim of internet marketing is to build and maintain the relationship between customers through online exchange of information about the goods and services room buyer and seller†.Barrett (2008) describes online marketing as an marketing effort that involve with â€Å"carefully targeting users and getting them to interact with you while they're engaged with the most personal, intimate medium ever invented†. Found (2008) observes that there is various online marketing instruments includi ng banners, sponsorship, pop- ups, push technologies, links, paid searches, interactive media, e-commerce, online magazines and newspapers, social networks, as well as user generated videos such as Youth, and blobs. With the internet age, customers eave more choices than ever, in which offering good products is not enough.Found (2008) points that many companies are opting to build interactive communities on their websites for customers so that some of these communities or social networks allow marketers to learn how consumers feel about a brand, and what they would change about a product. In a social network, Found (2008) states that â€Å"there are some people who Join to grab information, others like to distribute material to others, some just want to simply look around and others want to shape the activity of the group†. According to Fight (2007) this type of interaction â€Å"can lead to new products and inspire new positioning and inform marketing programs†.Many s ocial websites have been introduced including Twitter, Backbone, My Space, and etc. That consumers can learn of new products, share experiences, get excited about new products or vent about negative experiences (Found, 2008). As a result, this could be an advantage or disadvantaged to any company. Mains (2007) mentioned that the absence of meaningful metrics in online marketing is a key issue that trouble many marketers, in which other obstacles that prevent companies from spending more money on online tools, and insufficient capabilities.According to Mains (2007), some sites are also bombarded with advertisements making some information get unnoticed. Research Objective Given the fact that technology plays an important part in the daily lives of Gene Y, and the growth on online technologies, social networking and mobile technologies is changing the consumer behavior, a local shopping mall where most of its customers are Gene Y is interested in finding out how it can best employ onl ine and mobile cosmologies to enhance their online marketing efforts to attract Gene Y shoppers and increase their spending in its stores.Research Questions 1) How the technology affects buying behavior of Gene Y? 2) What are advantages and disadvantages of buying products at stores? 3) What are the main motivators of Gene Y to go out for shopping? 4) What are the satisfaction levels of customers on the store's products and services? 5) What are the loyalty levels of the firm? 6) What does Gene Y likes, dislikes, and suggests about the firm's online communication tools? 7) What are the firm's marketing strategies that needs to be improve in order to increase sales?Research Methodology Qualitative Approach Michael (2010) suggest that the qualitative research is normally used when â€Å"we don't know what to expect, to define the problem, to develop an approach to the problem, as well as to go deeper into issues of interest and explore nuances related to the research problem†. Meanwhile, the quantitative research is used to quantify data and generalize results from the population of interest through sampling, in which sometimes followed the qualitative research that is previously used to explore some findings further (from Snappers. M). In the research, the researcher wants to explore and develop an initial understanding of Gene Y and online marketing for further decision making. Therefore, the qualitative research approach is used to answer the research questions. Michael (2010) also states that there are many data collection methods used in qualitative research, including focus groups, in-depth interviews, observation, and etc.Research Technique – Focus Group Enemies and Richard (2001) suggests that focus groups are one of the most frequently used research techniques for making consumer research to learn about consumer evolve a marketing strategies in efficient and effective manner. Enemies and Richard (2001) explains that focus group normally co nsists of 8-12 people from the sample population bringing into a group to express their idea, felling, attitude, and beliefs according to a question and other member's comments.Thus, the major advantage of focus group is that the researcher can acquire numerous and diverse views from the respondent (Enemies and Richard, 2001). Sample Population The characteristics of sample population should be male or female aged around 9-33 years old at present, in which they used technology at higher rates than people from other generations. Sample Size The researcher chose to conduct 3 focus groups with 10 participants each as higher â€Å"N† is to reduce the sampling error (Peter, 2000).Therefore, the sample size used in this research is 30. Sample Selection Bonito (2008) suggests three main considerations selecting participants in focus groups, including their personal characteristics, location, and issue knowledge. Personal characteristics, as defined by the sample population, are male or female geed around 19-33 years old at present. Participant's location should be not far from the place where the researcher conducts the focus groups. Finally, participant should be familiar with internet and social networking.Data Collection Process The focus groups will be conducted during February 1-15, 2013, with the first focus group on February 1, the second on February 8, and the third one on February 15. The focus group processes will take an approximately 90-120 minutes, as suggested by Enemies and Richard, (2001). During the focus group, the researcher will record all investigations through digital audio recorder, as suggested by Crewel (1998). All focus group will be taken at the meeting room of the shop, in which appointment with all participants will be made and confirmed 3-7 days in advance.

10 Facts on the Geography of Beijing China

10 Facts on the Geography of Beijing China Population: 22,000,000 (2010 estimate)Land Area: 6,487 square miles (16,801 sq km)Bordering Areas: Hebei Province to the north, west, south,  and part of the east and the Tianjin Municipality to the southeastAverage Elevation: 143 feet (43.5 m) Basics About Beijing Beijing is a large city located in northern China. It is also Chinas capital city and it is considered a direct-controlled municipality and, as such, it is controlled directly by Chinas central government instead of a province. Beijing has a very large population at 22,000,000 and it is divided into 16 urban and suburban districts and two rural counties.Beijing is known as being one of the Four Great Ancient Capitals of China (along with Nanjing, Luoyang and Changan or Xian). It is also a major transportation hub, a political and cultural center of China, and was host to the 2008 Summer Olympic Games. Geographic Facts The following is a list of ten geographic facts to know about Beijing.1)The name Beijing means Northern Capital but it has been renamed several times in its history. Some of these names include Zhongdu (during the Jin Dynasty) and Dadu (under the Yuan Dynasty). The citys name was also switched from Beijing to Beiping (meaning Northern Peace) twice in its history. After the founding of the Peoples Republic of China,  however, its name officially became Beijing.2) It is believed that Beijing has been inhabited by modern humans for about 27,000 years. In addition, fossils from Homo erectus, dating back to 250,000 years ago have been found in caves in Beijings Fangshan District. Beijings history consists of struggles between various Chinese dynasties which fought for the area and used it as Chinas capital.3) In January 1949, during the Chinese Civil War, Communist forces entered Beijing, then called Beiping, and in October of that year, Mao Zedong announced the creation of the Peoples Republic of China (PRC) and renamed the city Beijing, its capital. 4) Since the founding of the PRC, Beijing underwent many changes to its physical structure, including the removal of its city wall and the construction of roads intended for cars instead of bicycles. Most recently, land in Beijing has developed at a rapid pace and many historical areas have been replaced by residences and shopping centers.5) Beijing is one of the most developed and industrial areas of China and it was one of the first post-industrial cities (meaning its economy is not based on manufacturing) to emerge in China. Finance is a major industry in Beijing, as is tourism. Beijing also has some manufacturing located on the western outskirts of the city and agriculture is produced outside of major urban areas.6) Beijing is located at the tip of the North China Plain (map) and it is surrounded by mountains to the north, northwest,  and west. The Great Wall of China is located in the northern part of the municipality. Mount Dongling is Beijings highest point at 7,555 feet (2, 303 m). Beijing also has several major rivers flowing through it which include the Yongding and the Chaobai Rivers.7) The climate of Beijing is considered humid continental with hot, humid summers and very cold, dry winters. Beijings summer climate is influenced by the East Asian monsoon. The average July high temperature for Beijing is 87.6 °F (31 °C), while the January average high is 35.2 °F (1.2 °C).8) Because of Chinas rapid growth and the introduction of millions of cars into Beijing and surrounding provinces, the city is known for its poor air quality. As a result, Beijing was the first city in China to require emissions standards to be implemented on its cars. Polluting cars have also been banned from Beijing and are not allowed to even enter the city. In addition to air pollution from cars, Beijing also has air quality problems due to seasonal dust storms that have developed Chinas northern and northwestern deserts due to erosion.9) Beijing is the second-largest (after Chon gqing) of Chinas direct-controlled municipalities. The majority of Beijings population is Han Chinese. Minority ethnic groups include Manchu, Hui and Mongol, as well as several small international communities.10) Beijing is a popular tourist destination within China because it is a center of Chinas history and culture. Many historic architectural sites and several UNESCO World Heritage Sites are within the municipality. For example, The Great Wall of China, the Forbidden City,  and Tiananmen Square are all located in Beijing. In addition, in 2008, Beijing hosted the Summer Olympic Games and sites constructed for the games, such as the Beijing National Stadium are popular.To learn more about Beijing, visit the municipalitys official website.Sources: Wikipedia.com. Beijing - Wikipedia, the Free Encyclopedia. Retrieved from: http://en.wikipedia.org/wiki/Beijing

buy custom Macroeconomics essay

buy custom Macroeconomics essay Macroeconomics deals with the economy as a whole. The millions of individual microeconomic decisions of the people, businesses, and government in their totality represent a nations economy. Macroeconomics economic goals involve three conditions associated with mixed economy such as the full employment, the levels of stability as well as economic growth which have the society desires (Schumpeter, 2004). The government therefore has a duty of pursuing them through implementing economic policies. Other goals include balanced trade, economic freedom, equitable income distribution and stability of price level. There is no universal acceptance of the existing economic goals and they are also not complementary at all times (Lazear, 2000). Macroeconomics business cycle implies periods that usually keep on recurring and they are associated with recession at times and prosperity at other times and they may be widespread in the entire nation. There is a need of identifying them through the variations in seasons such as the absence of sales of heavy clothing in summer (Blaug, 2007). They also have secular trends on the long run especially in relation to the population such is the case with the baby boom. The phases evident in the business cycle include peak, contraction, the times of recession, the trough, recovery, as well as expansion. Retrenchment in the workplace is the best indicator of changes in the business cycle which mostly occurs at the time of recession (Harcourt, 2007). The economic variables in macroeconomics include the quantity, the quality as well as distribution. The implication of quality is the qualitative changes that take place in the processes of production (James, 2007). The occurrence of qualitative changes is at the time of the alteration of different price input as well as output (Baumol, 2007). The implication of distribution on the other hand is the series of the events whereby the unit prices related to the constant-quality products as well as the inputs have been altered resulting to the changes in the level of income. Buy custom Macroeconomics essay

Discuss the significance an dramatic purposes of Lodovico (Othello) Essay

Discuss the significance an dramatic purposes of Lodovico (Othello) - Essay Example The play revolves around the following main characters. Othello- who is the Moor, Desdemona-wife to Othello and Brabantio daughter, lago -ensign to Othello and husband to Emilia, Cassio-lieutenant to Othello and Brabantio, who a venetian senator and Desdemona’s father as well as brother to Gratiano. Lodovico is a minor character. He is a kinsman to Brabantio and a cousin to Desdemona. Below is a discussion on the significance and dramatic importance of Lodovico as a character in Othello. The other minor characters in the play are Duke of Vernice, Clown, Montano and Gratiano. Despite being a minor character, Lodovico’s role cannot be dismissed. Lodovico’s main role is found in scene 1 Act IV. In the novel, Lodovico appears for the first time as Cyprus manager from the Duke of Venice in Act IV, scene one. After enquiring about the situation on the island, he witnesses the striking of Desdemona by her husband Othello. He asks the rhetorical question, whether that was the noble person that every one regarded as sufficient for all. (IV. i. 265-266). Since he is an impartial observer, his statement emphasizes the dramatic transference that Othello has gone under suffering in lago’s spell. In the play, Lodovico acts as a Brabantio’s kinsmen. Brabantio is the father to Desdemona’s. He witnesses Othello’s jealousy. This is evident when Desdemona says she has â€Å"love for Cassio†. When Othello hears that, he interprets that his wife means that she is involved romantically with Cassio. Othello’s wife only means that she was deeply concerned with Cassio, and there was no romance involved. Lodovico also serves as a witness to Othello’s actions when Othello Desdemona is hit by Othello in the eyes of Lodovico. This makes Lodovico doubt Othello’s sanity and behavior. In addition, Lodovico witnesses Othello’s arrest when it was realized that he had murdered Desdemona. Lodovico having no idea of lago’s intentions, thinks that Othello is

Participation 4 Essay Example | Topics and Well Written Essays - 250 words - 3

Participation 4 - Essay Example Probability sampling uses random sampling method, where the researcher selects parties to the study randomly. This ensures that the study eliminates bias and makes it easier for the researcher to estimate the sampling error. In his article painter describes the use of probability sampling in research. The example he focuses on is on selection of households from a certain cross section area. The study may focus on selecting all households, which will include even newer households. Alternatively, in selecting a sample the researcher can exclude the newer households and consider those that have resided in the area for a while. The study, therefore, will use a cluster sample, which will focus on areas with old residents. The focus was on European waters and their efforts to improve the status of these waters. In this study, they use judgmental sampling method. In their research, they have selected certain water bodies that they intend to examine and come up with ways of improving their status. The rationale for using judgemental sampling method is that the water bodies are certain and; therefore, the researcher has to focus on a certain area of