Saturday, May 23, 2020

Communication Technology Is An Intrinsic Part Of Our Lives

Technology has become an intrinsic part of our lives, we have become dependent on it. It can be said that we cannot survive without it. The electronics that the advancement in communication and network technology has provided us with has become a part of our bodies. The obvious effects of these advancements can surely be seen in our society today. Human relationships have changed quite a bit. The way people interact and behave was affected as well. Not only that but also the perception of human relations and feeling of intimacy has shifted or evolved from its pre-existing perception. Communication technology holds a special place in both Sherry Turkle’s and Adam Gopnik’s essays. In Sherry Turkle’s essay â€Å"Alone Together†, she discusses what technology does to us rather than what it does for us. In her previous books she discusses what computer does to us and how people use computer to forge false identities for their own pleasure. In â€Å"Alone Toget her†, she talks about how technology has taken both of these stories to a new level. In the Adam Gopnik’s essay â€Å"Bumping into Mr. Ravioli†, he offers a close look into a specific modern American lifestyle, the life and behaviors of the New Yorker. He also deeply analysis the different perceptions of busyness throughout history. Later into his essay, he argues how the advancements of communication technology has changed the face of the society. He discusses whether it has made the community a better and a more connected placeShow MoreRelatedHow Video Games Helps Improve The Lives Of Thousands Of People Around The World895 Words   |  4 Pagesthat help improve the lives of thousands of people around the world. One aspect of the challenge is to have really good solutions, but the biggest challenge (often ignored) is to ensure that solutions are accepted by the people who should benefit. This is to ensure that people change their behavior so that solutions are part of their daily lives. Behaviors, even rigid, can be modified if given information, it is remembered and acts accordingly. We need effective communication to inspire change. ThatRead MoreThe Curriculum Trends Paper1086 Words   |  5 PagesThe Curriculum Trends Paper Introduction Everything in life changes, change is inevitable. Change affects the way people live, the way they communicate with each other, and many other areas of the human life is affected by change. The educational process is not the exception to this rule. Because of this constant change, the curriculum has to change as well and will continue doing so. The purpose of this paper is to analyze how the curriculum will change in the future and what type of impacts willRead MoreIntroduction. Sns Is A Marketing And Public Relations Company1544 Words   |  7 Pagespublic relations services to clients globally. Our mission is to provide world leading strategies that will help create and maintain mutually beneficial relationships with individuals and organizations vital to their growth and development. It is therefore essential that the company provides an atmosphere of leadership, expertise and services that enhance the quality and effectiveness of client’s communications projects and progr ams. As such, an integral part of SNS achieving their goals centers on theRead MoreThe Positive Side Of Interpersonal Communication1126 Words   |  5 Pagesaddressing how we can be communicating in ways to enhance our quality of being human with others and in turn, hopefully allow other human beings to enhance their interaction with their world as well. I will discuss the areas in the first three chapters of the book â€Å"The Positive Side of Interpersonal Communication by Thomas J. Socha and Margaret J Pitts. This book is a collection of articles comprised by some of the best people within the communication field. The three chapters I will incorporate withinRead MoreAdvantages And Disadvantages Of 5g Technology1471 Words   |  6 Pages5G - CHALLENGES First, this vision points towards a significantly increased (in comparison to earlier generations) set of stakeholders that 5G needs to accommodate when providing communication solutions. Examples of stakeholders are:- †¢ Individual and communities of people. †¢ SMEs, corporations, not-for-profit and social organizations. †¢ Digital asset owners, such as public transport and utilities authorities and organisations. †¢ Vertical sectors like energy, health, manufacturing, robotics,Read MoreBullying in Social Networks1411 Words   |  6 PagesBullying in Social Networks Bullying in Social Networks â€Å"Technology, it seems has unleashed an ugliness in us.† (Pitts, 2010, p. 8A.) With all the technology around us, one would assume that it should be used for good. However, people today are using social networks such Facebook, Myspace, Twitter, Skype, Youtube and many more, not only as a way to keep in contact with people but as a way to attack people. Technology has evolved into this great thing where, one all can keep in touchRead MoreSustainability Disclosure of the Company Essay1039 Words   |  5 Pagessustainability information relates to our company’s operation. As the world’s largest provider of commercial explosives, blasting systems and blast based services, we care about people and the environment. We acknowledge our environmental, social and community obligations which contribute us to conduct our business in a sustainable manner. Orica’s commitment to Safety, Health and the Environment (SHE) is well recognised and our underlying progress in improving our SHE performance is good in manyRead MoreGlobalization Is Not Single But Plural1358 Words   |  6 PagesWhen you break down globalization of culture each part of this phase can be defined in a various ways. I would like to start with the several definitions of globalization. â€Å"Globalization is not single but plural. Spatially, it involves combinations of local, national, inter-national, transnational and macro-regional networks. Structurally, it involves combinations of economic, military, political/ geopolitical and ideological power networks.† (Mann) Anthony Giddens â€Å"globalization can be defined asRead MoreDeaf : Deaf And Deaf886 Words   |  4 Pagesuse American Sign Language (ASL) system as their mode of communication or see them writing â€Å"Deaf† instead of â€Å"deaf† to give reference to the universally-recognized culture of people who are deaf or hard of hearing. The Deaf Studies in the 20th century focused on the studies of sign languages and of Deaf culture (Bauman Murray, 2010). It was during the late part of the 20th century when sign languages and their practical use for communication of deaf students were formally studied. Many systems wereRead MoreRelationship Between Long Distance Relationships1588 Words   |  7 Pagesrelationships with others and that the quality of our lives depends on those relationships whether it is from friends or romantic partners. With the development of technology the evolution of long distance dating relationships are transforming. Long distance relationships used to primarily consist of handwritten letters with the occasional phone call in between. However, progression and advancements in technology have led to numerous means of new communication. The Internet created a new and unexpected

Tuesday, May 12, 2020

The Federation Internationale de Football Association (FIFA) - Marketing Strategy - Free Essay Example

Sample details Pages: 8 Words: 2294 Downloads: 7 Date added: 2017/06/26 Category Marketing Essay Level High school Did you like this example? Select an organisation of your choice and produce a report which analyses their current marketing strategies and make recommendations for improvements to their marketing strategy. Date authored: 05 th September, 2014. This report will note upon the marketing strategy of The Fà ©dà ©ration Internationale de Football Association (FIFA; the association based in Zurich was founded in 1904 and is governed by Swiss law the official website states â€Å"It has 209 member associations and its goal, is the constant improvement of football,† (FIFA, 2014) but do people recognise FIFAs goal through their marketing effort? FIFA shows involvement to other associations whose aims are similar to their own, for instance Kick It Out who describe their organisation as footballs equality and inclusion, this is done through campaigns on anti-discrimination in football. They work with football, educational and community sections and aim to reduce racism, homophobia and other discriminations within the sport, FIFAs partnership ties to their aim to improve the sport within an ethical Don’t waste time! Our writers will create an original "The Federation Internationale de Football Association (FIFA) Marketing Strategy" essay for you Create order spotlight. (Kick It Out, 2014) Recently the police and Crown Prosecution Service pledged to tackle ‘all forms of abuse in football, Morland Sanders went undercover to some football grounds and found â€Å"dispiriting findings [including] fans chanting deeply offensive racist abuse while nearby police officers do nothing.† (Whitelaw, P., 2014) FIFA may partner with such organisations to acquire the Halo Effect; Doyle (2011) defines this as â€Å"the perception of positive traits, qualities, or benefits of one entity influences (with positive bias) the perception – of another entity.† With this FIFA may seek positive equity from Kick It Outs perceptions. Recently FIFA received negative perceptions by publics due to their handling of the FIFA World Cup 2014, the host nation for the competition was Brazil whose economy was emerging from 2003, their share of global output increased by a percent point yearly until 2011. (Global Sherpa, 2014) In 2007 FIFA accepted Brazils bid to host the competition due to the strong economic climate they had, a year later a global recession would occur though Brazil, Russia, India, and China saw growth in economy, and these emerging economies have been dubbed the BRICs. The impact the BRICs would have upon global economy, was still questioned last year and whether that impact caused was permanent, Sharma, R (2013) believes the rise of the BRICs was rare stating â€Å"By 2007, with three – exceptions, every economy in the emerging world was growing, and more than 100 were growing faster than 5%. This kind of synchronised global boom had never happened before, and it is not likely to happen again.† And with â€Å"only 35 of 185 economies tracked – are developed; the rest have been ‘emerging forever. It is rare for emerging nations to sustain growth faster than 5% for even one decade.† Though Mahbubani, K (2013) argues that before 1820 China and India was the largest economies and believes â€Å"long term trajectory remains unchanged. Yes, there will be many short-term stumbles or strategic pauses.† FIFA could have improved their marketing effort in a number of ways; firstly they could have taken notice of the confusion within the economy at the time and taken a safer option by approving the bid of a developed nation. Secondly when the economy of Brazil steadied they could have offered more support towards Brazil, the number of partners FIFA boasts and their aim to progress football could they not provide Brazil with resources to help ease the job. Most importantly FIFA should have taken consideration of other stakeholders involved, with one stadium built with capacity of 42,000 used for four world cup fixtures, the local team who would use it after get average attendances of 1,000. ( Freeman, H. 2014) Social media marketing has received significant attention in the past few years. Critically discuss this technique. What makes a successful social media strategy? Within the past 10 years online communications have become increasingly vital for many companies, once marketers could control their communications, but with the rise of the internet consumers can easily make or break a brand, through social media. Singh Diamond (2012) defines social media as â€Å"content created and consumed by regular people for each other.† Marketers have shown growing interest upon this channel because they are popular; Facebook boasts near 1 billion users which is a large amount of traffic, this websites users are a part of a huge database which is ideal for the use of direct marketing. Databases are also available on YouTube, which is more popular than Cable TV, with people not using previously popular channels marketers must find another way to communicate with them. (Scott, 2013) This interest is now being acted upon by businesses so a company should use the tool their competitors do to ensure they do not face competitive disadvantage. Guerrilla marketing campaigns can use social media constructively, Levinson (1993) introduced this concept and believed such campaigns are characterised by low cost but extreme effect in building reputation by generating favourable consumer perceptions, such marketing is creative energetic, and flexible. Castronovo (2012) believes social media can aid guerrilla marketing as it is a free medium that can create a buzz and allows viral spread, this then â€Å"[increases] the relative exposure and effectiveness – compared to offline guerrilla venues alone.† Guerrilla marketing highlights how integrated marketing communications can be used effectively Clow Baack (2007, p.419) states marketers should â€Å"resist the temptation to create Web [content] that attempts to be everything to everyone.† In fact online communications need to reflect the offline; overall social media should be used for communicating elements of brand equity in a more social enigma relating to the target. ‘B2B branding and B2C branding are exactly the same Critically discuss this statement, do you agree? One brand that seeks business both B2B and B2C is Tesco, upon online communications they have to separate websites that targets the interest of both. Their main site ( targets the consumers and supply links to the services sold to consumers, they also show their tagline â€Å"Every little helps† Though the branding remains similar upon the PLC site ( they have dropped the tagline and now they boast upon the companys achievements, current share price, and major shareholders. This differs from the product based approach upon the consumer site. In 2013, Tesco was involved with the horse-meat scandal, one of Tescos suppliers included horse meat within their products, and when this was found out consumers were outraged. Because of a fault in Tescos B2B business their brand was suddenly undesirable which produced negativity in their B2C branding. (BBC, 2014) If a B2B branding causes positive/negative perceptions to a business this could then show the same effect in B2C branding and vice-versa, for instance Innocent smoothies possess a large section of the smoothie market, Sainsburys acts as an ambassador for the brand and with Innocents ethical approach they may reap the halo effect, it may be more expensive than competitors but it still obtains high volumes of interest both B2B and B2C. Viral marketing is often cited as being a cheap and effective way of marketing a brand. What makes an effective viral marketing campaign? Perry Whitaker (2002) define viral marketing as â€Å"the voluntary spread of an electronic message from one consumer to one or many others, creating exponential and self-perpetuating growth in its exposure.† Though Kirby Marsden (2006) contradict the previous definition and believe viral marketing â€Å"describes any strategy that encourages individuals to pass on marketing offer to others,† the contradiction in the statements lies in whether the spread is voluntary or if it is implemented from a strategy. The spread of such marketing messages could be believed to be voluntary but can be adapted into a marketing strategy, Walter (2013) states â€Å"viral content cant be predicted – but brands and content producers can still learn from successful viral campaigns.† Looking at successful campaigns what can be implemented to another campaign to make it effective? To make a successful viral marketing campaign is to ensure consumer engagement with the brand, for instance 3s #DancePonyDance Campaign (Appendix 1) had users of Twitter ‘tweeting the amusing video, which many people shared it and thus the campaign became viral. Appendix 2 is the Doritos advertisement â€Å"Goat 4 Sale† Doritos ask people to create an advertisement for them and the winners advertisement is first aired during the Superbowl. The winner created the Goat 4 Sale ad, but with the amount of interested consumers, proves a lot of brand engagement. Appendix 3 was Doves campaign â€Å"Real Beauty Sketches† with majority of their target market being females they related to the market by having women draw pictures of themselves, that usually showed what they believed to be physical imperfections but when drawn by another person their beauty was accelerated, this campaign went viral because it understood a psychological belief of women and provided a positive insight, also the campaign was available in of languages so it could reach a larger audience. Finally Appendix 4 is a screenshot of the Walkers site during the â€Å"Do us a flavour† campaign, in which consumers provided walkers with flavours for their product, the most favourable by the company was then put to a public vote which decided which product they would provide more long-term. Evidence from successful viral marketing campaigns would provide the following recommendations to other campaigners who seek to become viral:  · Ask the consumer to engage with the brand on a different level whether this is as simple as social media engagement or more complex as creating a possible advertisement.  · Ensure the campaign does not stray from brand equity, using a fundamental of the campaigns brand will appeal to the correct audience for instance Dove is a beauty product, their campaign on beauty reflected this and thus spread.  · All target audience should understand the campaign, Dove ensured the video was available in an array of languages to target consumers worldwide. This attribute is also seen in 3s campaign which has the tagline ‘Silly stuff. It matters,† tying this with social media where consumers use the channel to socialise, humour may target them on this channel. Why is it important for an international marketer to study culture? Outline the main techniques available for undertaking cultural analysis? To understand the importance of the concept of culture for international marketers, primarily the concept must be defined. Culture is a set of control mechanisms that administrates peoples behaviour; culture is not a characteristic of the individual but rather bestows characteristics upon an audience. Culture perception from people ultimately corresponds from the socio-cultural environment which de Mooij (2010) believes â€Å"includes shared beliefs, attitudes, norms, roles, and values found among speakers of a particular language who live during the same historical period in a specific geographic region.† Overall one society may perceive one object in a different view than others, and understanding this will benefit a marketer. Kaynak, Herbig, (1998) states â€Å"Americans find it peculiar that the Chinese believe a dog is a delicacy, – while the Chinese find it peculiar that Americans – keep dogs as pets.† Therefore if a marketer who is used to a Chinese market should not market a dog as being a delicacy as it is far from the citizens perception of dogs. When conducting international marketing research Craig, Douglas, (2005) believes â€Å"secondary data [is] a key source of information – due to [its] ready availability, their low cost and their usefulness in providing background information relating to a specific country or industry.† Secondary sources are vast â€Å"ranging from print and CDROM to various Internet-based sources and web sites.† A PESTLE analysis is an effective yet simple tool used by marketers (Should the tool be expanded upon?) the circumstances of each area of the PESTLE may differ overseas which highlights the importance of analysing cultures when exploiting new geographical markets. If a PESTLE is used before exploiting new markets some issues may arise. Appendix Appendix 1 – 3 monkeys communications, (2014) Appendix 2 – Doritos, (2014) Appendix 3 – Dove, (2013) Appendix 4 – Bussey, (2009) References: 3 monkeys communications. (2014). Dance Pony Dance. Available: Last accessed 05/09/2014. BBC. (2014). Equine Cuisine. Available: Last accessed 05/09/2014. Bussey, N. (2009). Builders Breakfast wins Walkers Do us a flavour competition. Available: Last accessed 05/09/2014 Castronovo, C. (2012). Social Media in an Alternative Marketing Communication Model. Journal of Marketing Development and Competitiveness. 6 (1), 117 131. Clow, K.E. Baack, D. (2007). Integrated Advertising, Promotion, And Marketing Communications. New Jersey: Pearson Prentice Hall. 419 Craig, C.S. Douglas, S.P (2005). International Marketing Research. 3rd ed. Sussex: John Wiley Sons. de Mooij, M. (2010). Global Marketing and Advertising: Understanding Cultural Paradoxes. Californi a: SAGE publications. Doritos. (2014). Goat 4 Sale. Available: Last accessed 05/09/2014. Dove. (2013). Real Beauty Sketches. Available: Last accessed 05/09/2014 Doyle, C (2011). A Dictionary of Marketing. Oxford, UK: Oxford University Press. FIFA. (2014). The Organisation. Available: Last accessed 05/09/2014. Freeman, H. (2014). How Brazils World Cup has sold its people short in the Amazon. Available: Last accessed 05/09/2014. Kaynak, E. Herbig, P (1998). Handbook of Cross-Cultural Marketing. New York: The Haworth Press. Kick It Out. (2014). About. Available: Last accessed 05/09/2014. Kirby, J. Marsden, P. (2006). Connected Marketing: The Viral, Buzz and Word of Mouth Revolution. Burlington: Elsevier. Levinson, J. (1993). Guerrilla Marketing: Secrets for Making Big Profits from Your Small Business, Boston: Houghton Mifflin Company. Mahbubani, K (2013). The BRIC economies. Available: Last accessed 05/09/2014. Perry, R. Whitaker, A. (2002). Viral Marketing In A Week. Essex: Hodder and Stoughton. Scott, M. (2013). 5 Surprising Social Media Statistics for 2013.Available: Last accessed 05/09/2014 Sharma, R. (2013). The BRIC economies. Available: Last accessed 05/09/2014. Singh, S., Diamond, S. (2012). Social Media Marketing for Dummies. New Jersey: Hoboken Whitelaw, P. (2014). Dispatches. Available: Last accessed 05/09/2014.

Wednesday, May 6, 2020

Ip Camera Free Essays

Basic – analog and digital Branded ones – Bosch, AXIS, Mobotix Biggest Taiwan brand Vivotek Check out AXIS and Mobotix trend in each country. Bosch is following up with AXIS and Mobotix. Bosch website is good in technical. We will write a custom essay sample on Ip Camera or any similar topic only for you Order Now Vivotek is good in hardware. Bosch and Airlive software are good. Analog camera has BNC connector (round connector). Can convert analog to digital? Yes is possible. Cost is 25 USD to 250USD. Can convert to BNC to RJ45 or even to Fibre. Lens affect the viewing angle from 4 MM, 6MM, 8MM, 16MM. Manufacturer is Sharp and Sony. Lens also got differentiate into CMOS and optical lens. Optical lens consume more bandwidth. AXIS has the best CMOS lens and they can make it closer to optical lens. MTBF- Mean time before failures. Our AP is 200,000HRS which is quite safe. Camera also have MTBF timing. Bosch have best datasheet. Digital cameras is using RJ45, LAN cable. Digital have both indoor and outdoor. DVR for analog have BNC connector. 16 holes. 1 hole 1 channel. DVR is for digital camera. DVR is mostly for soho use up to 16 channels or even 32 channels = 32 digital cameras. 1 camera 1 ip address. DVR – we have 1 setup box and 1 harddisk and few buttons for control. Older form of DVR is onsite recording. 2nd generation is with Lan cables so is going via IP. Can record offsite. PTZ cameras – Pan Tilt Zoom.. which the lens is optical. NVR – network video recording is like a NAS, up to dual CPU power with single GIGBABIT port for connecting high resolution cameras for processing. Can connect up to 254 cameras to 1 NVR (255 ip address for Class C subnet mask). Codec is required for converting the recording for onsite. H. 264 and MPEG file version. For future, people are doing bigger and larger and scalable NVR to increase the number of cameras. Raid is now up to 0 and 1. Next year will be raid 5 and raid 6. inside have 4 CPU inside 4U CPU rack with 2 harddisk with redundant power. Software – Questions to ask. 1) What is the FRAME per second? FPS. Recording for IP camera is 29FPS is good (for wired). Wireless camera is normally 3 to 5 FPS for viewing. Recording is still 29FPS for wireless. 2) Resolutions. 320 x 320, 480 x 320, 640 x 480, 1024 x 768 etc. higher resolution will consume higher bandwidth. For analog is defined as lines. Eg HD TV has 1080 lines. 3)CODEC file type. For night vision is based on lux. 0. 5 LUX is able to see already. 1 LUX – 40W of light bulbs. IP cameras do not take standard POE but it take POE+. AXIS – strong at indoor Mobotix – strong at outdoor Vivotek – Outdoor and indoor Bosch – Outdoor How to cite Ip Camera, Essay examples

Friday, May 1, 2020

Information Technology Market Success To Technology

Questions: 1. Identify the importance of wetware costs?2. Identify an organisation implementing an accounting information system?3. Discuss the relevance of wetware costs to the implementation in the organisation you have identified? Answers: Introduction The increase in the information and communication technology has changed the traditional world into digital. This transformation is termed as the information age. Due to rapid increase in the technology usage, the world is mostly focusing on the progress and development of the information technology. This information age is separated into three different periods one is the stage that mainly focuses on the hardware systems, the second is the stage that focuses on the software and third is the wetware cost organization. This paper emphasizes on the significance of wetware cost and its impact on the organization. 1. Significance Of Wetware Cost For more value added services, the organization must transform its present knowledge base in to upgraded version focusing on the existing activities and the ideas. There exist three different categories of organization human resource, intangible assets and the tangible assets (Quarta, 2009). According to Silicon Valley the resources of a company are the wetware, software and hardware (Abeles, 2009). Here, the wetware can be defined as the brainpower of an employee. It is said to be private property of the employees that can be carried or transformed to different organizations. Thus based on the definition, the wetware cost can be defined as an indirect cost that is needed to make the users knowledgeable about the utilization of hardware and software. However, it is to be noted that this wetware has to be controlled properly, or else it might control the achievement decisions of IT industry. 2. Implementing Accounting Informational System Within Companies Hawaiian Telcom is one of the most reputed companies based in the United States of America. The companys headquarter is located at Hunululu. The firm effectively provides communication services to different businesses, government, residential area, and wholesale consumers. It is one of the members of SP 500 index. Within the country US, the company stands at the third position amidst telecommunication industry. Besides generating communication services to multiple companies, it even provides long-distance services. The firm is believed to use accounting information system extensively(Chapman Kihn, 2009). This is immensely helpful in collecting data. This accounting information system is useful in processing of data. Once the data is processed, the information system would generate relevant data which may be used by all internal organizational users and that of external users. This accounting information system was applied by the auditors to determine various activities of fraudulenc e within allocation of expenses. The firm successfully pointed out the anomalies within the entry of any sort of accounting information(Fisher, 2007). The system of accounting information has acted as an effective mechanism to identify every minute detail within the accounting entry. 3. Relevant Wetware Expense Within Implementation Hawaiian Telcom has been successful in implementing accounting information system for enhancing the organizational security. The effectiveness of such an information system has successfully increased and improved due to the incorporation of accounting information system. This mechanism has been used as a tool for controlling different financial operations such as budgeting process, calculation of tax, revenue recognition, and resource allocation. This accounting information system has rendered accuracy to the information processing activity. This has enhanced the effectiveness of the firm(Bhimani, 2012). Operational efficiency has been the result in the process of identifying important and significant costs. As all costs are equally significant to lead to organizational growth, the process of decision-making of firms is based on important costs and that of organizational revenue. In this regard, it may be considered that wetware expense is quite significant within the process of impl ementation of accounting information system. It is identified that quite a greater extent of wetware cost is involved with the utilization of technologies within firms. Various innovations within area of information system has caused higher wetware costs within firms. As accounting information system is an improved technological advancement that would involve greater level of expense, the issues connected with maintenance as well as communication technology demands greater rate of wetware costs(Chapman Kihn, 2009). Implementation of accounting information system within organizations demands for higher investment into hardware, wetware, and that of software. Conclusion In conclusion, the current report has enlightened the theoretical concept of Wetware and its significance. With the rapid growth of the information technology, the relevance of wetware cost is also rising. Rising innovation through implementation of high-end technologies have resulted in the rise in the wetware cost. The report also discusses the initially the information technology focused on the development of hardware but now there has been a transformation or paradigm shift from the hardware stage to the software stage and presently it is the wetware stage. This creation or transformation is thus adding value to the organization. The software development helps to manipulate and analyze the data which furthers helps the organization to make effective communication process by sharing the data. This has given outcome of indirect cost which is termed as the wetware cost that mainly focuses on enhancing the organizations performance and growth. The wetware cost has become the most dom inating area in IT system. The report also highlights the significance of implementing the accounting information system and also significance of wetware cost in the implementation of such system. The report highlights that the Accounting information system is one of the latest technology that helps in carry the transaction process easily in the organization. This process also involves huge cost. This cost is nothing but the wetware cost. Thus for successful performance and implementation of accounting information system, the firm must focus on investing into the wetware cost. References Abeles, T. (2009). Hardware, software, and wetware. On the Horizon, 17(4), pp.280-284. Bhimani, A. (2012). Management accounting system implementation success: is reporting useful information sufficient?.IJAAPE,8(2), 115. doi:10.1504/ijaape.2012.046612 Chapman, C., Kihn, L. (2009). Information system integration, enabling control and performance.Accounting, Organizations And Society,34(2), 151-169. doi:10.1016/j.aos.2008.07.003 Fisher, I. (2007). A prototype system for temporal reconstruction of financial accounting standards.International Journal Of Accounting Information Systems,8(3), 139-164. doi:10.1016/j.accinf.2007.07.001 Quarta, M. (2009). Wetware Concepts. New Biotechnology, 25(4), pp.193-194.

Saturday, March 21, 2020

University of Bahrain Essays - Latter Day Saint Movement

University of Bahrain Department of English Language Year: 2016- 2017 The Mormons Research Paper 57150033020 Taqeya Ali Saleh 20122062 Dr. Youssef Jamal Course: American Multiculturalism 411 Taqeya Ali Saleh 20122062 Dr. Youssef Jamal Course: American Multiculturalism 411 The Content The Introduction . Page (3 - 4) The Body .. Page (5 - 7) The Conclusion . Page (8 - 9) References ... Page (10) Introduction Mormons have always had a peculiar hold on the American imagination, but few know who the Mormons actually are or who they claim to be, and their story is one of the great neglected American narratives. Mormonism is a way of life that is practiced by members of the Church of Jesus Christ of Latter-day Saints. Over two-thirds of the church's membership is in the United States. However, members are also located in many other countries around the world. Mormons use the Bible, the Book of Mormon, and two other books or revelations to Joseph Smith, founder of the church. These other two revelations are the Doctrine and Covenants and the Pearl of Great Price. The Mormon organization consists of a three member First Presidency and a twelve man Council of Apostles who make up the major policy-making body of the church. Mormonism's founding doctrine was based on the assumption that Christianity was corrupt and that it was necessary to restore the "true" Christian gospel. The Mormon Church sees only itself as recognized by God. Joseph Smith founded the church in New York in 1830. He said that he had visions of God and other heavenly beings that told him to establish the restored Christian Church. He was "directed" to some thin metal plates that he translated into what is now called the book of Mormons. This book describes the history, wars, and religious beliefs of a group of people who migrated from Jerusalem to America. Smith attracted a small group of followers who settled in Kirtland, Ohio, and Jackson County, Missouri. Because of persecution, the church moved to northern Missouri, then to Nauvoo, Illinois. The people of Illinois welcomed the persecuted Mormons, and Smith began to construct a temple and a hotel there. In 1843, Smith secretly instituted the practice of plural marriage among a group of his followers. This could be because he himself had 50 wives. The Mormons lived in relative peace until 1844 when a group became mad about Smith's practices. They started a newspaper called the "Nauvoo Expositor" and attacked him, accusing him of practicing polygamy. Smith denied this charge but was killed anyway. Brigham Young took over as their new leader. In 1852, polygamy was officially announced at the Mormon conference. The Body The Mormon Church Is a conservative religion focused on family values and strong participation in community service. It is an unspoken rule that all men must complete a mission during which time there sent around the world for two years to proselytize and convert others to the Mormon faith. These young boys are taken from their church and the members claim that their faith in the word and the messages received by Joseph Smith is so strong that they are willing to put their faith in the hands of young boys. While an interesting joke, church does have significantly more text than most Christian faiths. In addition to the Old Testament and the New Testament members of the Mormon Church add to their scriptures the book of Mormon, the pearl of great price, and doctrine and covenants. It is said that these additional scriptures were founded by Joseph Smith at the direction of an angel, uncovered and translated in spite of his ignorance and Illiteracy were translated after which they w ere taken back up to heaven. Mormons believe that God has a clear plan for each of us. This plan is thought to have begun before we came to earth, and which will continue after this life. Those beliefs are written in thirteen clear declarations known as: "The Articles of Faith". Many religions have a written creed that clearly establishes beliefs and practices for that religion. The Church of Jesus Christ of the Latter-day Saints does not have such a strict creed as a code of faith; rather they recognize the

Thursday, March 5, 2020

Leadership and its impact on motivation and performance Essays

Leadership and its impact on motivation and performance Essays Leadership and its impact on motivation and performance Essay Leadership and its impact on motivation and performance Essay Introduction There is no ideal definition of leadership. 221 explanations were provided by Bass (2008): he highlighted the fact that any single definition would lack certain features (Van Wart, 2013). In this paper we consider the following interpretations. The first definition states that leadership is interpersonal influence that is used for directing others in order to achieve certain goals (Guetzkow, 1961). Hence, effectiveness of a leader can be measured by the level of his followers performance and motivation to work. Leadership can often be confused with management and administration: owever, it is evident that not every administrator (manager) is a leader and vice versa. Leadership is about power, i. e. eagerness of the followers to follow, whilst administration and management about authority vested in a persons position. What is more, management as well as administration is considered in this paper as maintenance activity, whereas leadership mostly deals with change. Leaders are people who shape the goals, motivations, and actions of others. Frequently they initiate change to reach existing and new goals Managing is maintaining efficiently and effectively current organizational arrangements. While managing well often exhibits leadership skills, the overall function is toward maintenance rather than change (Bush, 2008). To sum up, orientation on change and informal power are distinctive features of leadership the authors of the paper base their further analysis on. Theoretical concepts Nowadays there are several theories and models produced by a lot of studies, which analyze leadership from different sides such as personal qualities and leadership styles. The major theoretical concepts can be summarized into 3 groups: trait-based models, situational/contingency models and functional leadership models. Trait- based models The trait-based theory implies that a person can only be a leader if he or she is born with a special gift, i. e. special characteristics or traits without which a leader would not be able to perform managerial functions effectively. The topic was very popular in the first half of the twentieth century. The researchers tried to find correlation between innate traits and leadership criteria, but the results were inconsistent and unclear. Mann in 1959 concentrated his study on seven personality characteristics: intelligence, adjustment, extraversion, dominance, masculinity, conservatism, and ensitivity (Zaccaro et al, 1991). However the study made by Mann was not successful because he found that no trait had a median correlation higher than . 25 with leadership criteria (Zaccaro et al, 1991). The more fruitful research was made by Digman in 1990, who found a positive correlation between personality and leadership. Digman evaluated the leader by the following personality parameters: neuroticism, extraversion, openness to experience, agreeableness, and conscientiousness (Colbert et al, 2012). However this study still did not answer some questions concerning the relation between leadership and personality. Behavioral models This models focus on the way leaders behave with subordinates. Compared to the previous model, the emphasis was shifted from the leaders personality to leadership itself. The model was elaborated by Blake and Mouton (1964) in The managerial grid, and was aimed at improving interpersonal effectiveness and development of leadership skills (Alvares et al. , 1976). The model implies that a leaders success is generally based on the concern for production and the concern for people: the combination of both features is the optimal strategy for leadership accomplishment, hich makes subordinates more motivated with their tasks; feel important to the company; clearly understand the goals; achieve the high level of performance. (Alvares et al. 1976) Situational/contingency models In contrast to trait-based model, situational/contingency approaches presume that there is no ideal leadership style and that the most effective style depends on the situation, employees attitudes, conditions of work, etc. Leadership style may and should adjust to changes in the situation and only that way it would be effective. In other words, leader has to be flexible. This model enco mpasses the following pproaches to leadership. Three styles model Kurt Lewin (1890-1897) is told to be the leading psychologist of his generation (Burnes et al. 2013). Lewin introduced the so-called field theory, which states that individuals behavior depends on the environment, field. He found that three styles prevail in leadership behavior: democratic, authoritarian and laissez- faire style. Authoritarian style is about giving specific tasks and providing employees with direct instructions about how and when they should work, all decisions are made by the leader himself. Democratic style implies that a leader directs the rocess less, rather participating in it, helping subordinates to solve the problem and motivating them. Laissez-faire leadership is considered to be the most ineffective. The essence of this style is that a leader neither participates in team work, nor encourages employees. Followers are free to choose their own policies and methods, which is supposed to increase their creativity. The results of his studies show that democratic group performs best, stimulating creativity from the members and positively affecting productivity. However, the group with authoritarian style is a bit ore productive, but less creative and, what is important, fewer subordinates are satisfied with their Job. As for laissez-faire group, it is not effective: practically no creativity, poor performance and little satisfaction are observed. Summarizing Kurt Lewins findings we may build a table (App. 1) of three styles and its effects on motivation and performance 00b satisfaction is included, though it is out of our analysis scope). However Kurts theory was criticized for too narrow approach to leadership styles that ignore various shades between authoritarian and democratic behavior. Leadership continuum model That is why Tannenbaum and Schmidt offered their Leadership continuum model. The authors concentrated on the problem of combining democratic and authoritative style taking advantage of both approaches. (Tannenbaum et al. , 1973) Tannenbaum and Schmidt introduced the so-called continuum of styles, where styles have different variations from authoritarian to democratic, and can be used by a person in different situations (App. 2). An important benchmark is circled with red color: from here to the right a manager makes decisions only after consulting with the employees. The authors also mentioned that apart from choosing an appropriate eadership style it is extremely important that your employees understand the rules of the game, i. e. the style youVe chosen. Pretending to listen to employees opinion while in fact making decisions on your own not only spoils the relationships between an employer and his or her workers but decreases performance and motivation. Fiedlers contingency model Fiedlers contingency model (1964) presumes that performance of groups is contingent upon the interaction of leadership styles and the favorability of the situation for the leader. Mitchell et al. , 1970) Fiedler proposes that leaders can be ivided into two categories task-oriented and human-oriented. Effectiveness of the two categories of leadership depends on the task structure and the leaders position power. For example, task-oriented leaders are more effective in either very easy or very difficult (unstructured) situations. Human-oriented leaders perform best in m edium difficulty situations. Path-goal theory The theory was elaborated by Georgopoulos et al. (1957) and House. The model pays particular attention to the subordinates expectations. House, 1971) It states that management is responsible of setting clear goals, clarifying paths for achieving oals, implementing reward systems based on achieving higher performance (Mulki et al. , 2009). House devised 4 leadership styles depending on the type of work, followers characteristics and their expectations: directive, supportive, participative and achievement oriented. 1) Directive style (in case of unstructured, but interesting tasks and inexperienced followers) clear explanation and guidance on what employees should do. ) Supportive style (when tasks are simple, group cohesion is poor, but workers are experienced) leader should improve the working atmosphere and support the workers. ) Participative style (unstructured and complex tasks, experienced workers) leader should consult followers and listen to their opinions. 4) Achievement-oriented style (Unstructured, complex tasks, experienced workers, who think they lack power to accomplish task) leader should motivate and encourage followers. Situational model The authors of the situational model (Hersey, Blanchard, 1969) presume that one should choose leadership style only after he/she assessed the employees readiness to perform a specific task and adapt leadership styles to changing environment. (Butler et al. 1991) Situational Leadership Theory focuses on two aspects: (1) competence and (2) confidence and commitment. These two may be high or low (App. 3), and leader should make emphasis on either task or relationship aspect depending on the situation. Four frame model The last model in this group is Bolman and Deals four frame model. The researchers introduced four frames which leaders should pay attention to in different circumstances. These are structural, human resource, political and symbolic. Structural frame focuses on setting the goals, clarifying tasks and responsibilities. Human resource frame concentrates on peoples needs, their motivation and interests. Political frame is about resolving conflicts that arise in the organization. Symbolic frame deals with the sense of common goal, teambuilding and inspiration. A leader should be able to identify the main problems an organization faces and after to choose one or several frames to focus on, changing them after accomplishment of the goal. Otherwise it negatively impacts employees performance and motivation. Transactional and transformational leadership theory Transactional style is characterized by providing directions and guidelines, focusing n Job completion. Such leader defines group activities, describes the role each member is expected to assume and sets clear goals; clarifies the link between achievement and reward. Motivation is limited to formal procedures: bonuses and sanctions. Transformational leadership is guidance through individualized consideration, intellectual stimulation, inspirational, and idealized influence. (Choudhary et al. , 2013) Leaders of this style want employees to share common values and orient them towards the companys goals, create environment of psychological support and friendliness; incorporates employees suggestions into the ecision-making process and, thus, influence Job satisfaction and commitment. (Mulki et al. 2009) There are a lot of different opinions concerning which leadership style is more effective and if a person can display different styles. Some scientists have described transformational and transactional leadership styles as two competing approaches to motivating followers or employees: a person can perform either transformational leadership or transactional one, but not the both styles. Other researchers have a different opinion, assuming that these s tyles are not competing ones, but complementary to each other. Bass et al. 1993) Despite the fact that it is often supposed that outstanding leaders perform both transformational and transactional styles, it seems that transformational leadership can be more effective in a lot of cases. Previous researchers have discovered the evidence of a strong positive correlation between the application of transformational leadership style and the performance of working teams, presidential administrations and business units. (Cameron et al. , 2011) Functional leadership models There are also functional leadership models based on functions a leader must be ble to carry out. Morgeson et al. , 2010) One of the approaches proposes to divide the leadership functions into two phases or stages: transitional and actional phase. The transition phase is a period of time when teams focus on activities related to structuring the team, planning the teams work, and evaluating the teams performance. (Morgeson et al. , 2010) Actional phase is consequently the portion of the teams performance cycle when the team is focused on activities that directly contribute to accomplishing its goals. Morgeson et al. , 2010) (App. 4) Both phases re crucial for establishing cooperation within the team and, thus, high level of overall performance. An effective leader should define the phase of companys development and act accordingly. John Adairs Action-centered Leadership model. John Adair introduced the three circles diagram, which illustrates three main tasks of a leader (App. 5). 1. Task circle means the need to solve the problem and achieve particular result; 2. Team circle means that leader must create the working atmosphere, where employees will perceive the goals as our; teambuilding; 3. Individual caring about every worker of the team, trying to satisfy his/her needs. Leadership is effective only when all three functions are combined (the intersection of the circles). Changing salespeoples performance through leadership The problem Salespeople often work under direct supervision and are under high pressure to produce results: the management style has a strong impact on their performance. Leaders set an example of appropriate conduct. The study was conducted in a North American subsidiary of an international pharmaceutical company X to analyze the issue (Mulki et al. , 2009). The problem of the company was unethical behavior of salesmen with clients physicians: 50% lie on sales calls, every third makes nrealistic promises, every fifth imposes products on customers the latter do not need and bribe physicians to get them prescribed to a particular brand of drugs the behavior which was tacitly approved by senior management as long as sales goals were achieved. The revealed facts of inappropriate behavior ultimately led to the decline in the overall trust to the company X and the undermined reputation of pharmaceutical companies in general. The challenge Establishment of new company-wide ethical standards is a complicated issue, but existence of such standards is essential for controlling for the overall employees erformance, especially nowadays, when firms shift from a traditional office with opportunities of direct supervision to field offices, where employees are more independent in their actions. The industry trade association, PhRMA, issued voluntary industry guidelines for salespeople, which regulate the interaction of salespersons with physicians, directed to 90 large pharmaceutical companies of the U. S. The guidelines were rather strict, and required a strong commitment from senior management to be complied with. To face the challenge, it was decided to implement the path-goal theory and to use the features of leadership style of management tarting from the senior positions of the company. The aim was essentially to change the companys ethical standards, incorporating compliance with ethical rules and policies into the salespeoples system of values. Methodology The survey was conducted to identify leadership styles present in the organization and their impact on Job satisfaction and performance of employees. The employees were asked to measure leadership styles of management with the following 13 items, 9 of which represent considerate leadership, and 4 represent instrumental leadership (App. 6). The employees were also asked to estimate their satisfaction with upervisor, Job satisfaction, their efforts and Job performance. Results of the analysis showed that over 72% of the variance is explained by two factors instructional leadership and transformational leadership styles of management. Another random survey of salespeople was conducted 1 year later after the start of the transition to check for the impact of the new rules and standards on employees Job satisfaction, efforts and Job performance, as well as to reveal some of their considerations about relationships with clients. Results While transformational leadership plays a role in establishing good relationships etween management and subordinates and has a significant influence on the employees satisfaction with the supervisor, the analysis of implementation of the model to the company X showed that transactional leadership is more successful in setting corporate standards. It plays the crucial role in this process: a directive leader prescribes the space within which there is still room for decision-making, but the lines which an employee should not cross are clear: this is particularly important for salespeople as they should know that compliance with ethical rules and policies prevails over getting a substantial contract. It is also evident that establishment of these guidelines should not necessarily be the result of a consensus between all the employees, when everybodys views are taken into consideration. Clarity and established boundaries motivate the salesman to be creative in meeting customers needs without feeling uncertainty and vulnerability from the point of view of refusing to comply with the firms standards and management disapproval: it enhances subordinates trust in management and significantly reduces stress. What is more, customers are more open to new ideas and suggestions from an ethical organization, hich standards are high and clear. The trust, freedom and flexibility enable salespeople to be client oriented and increases the amount of effort employees put in their activities. This, in turn, creates a sense of Job accomplishment (Mulki et al. , 2009) and essentially improves the overall performance. To sum up, the new company-wide standards established in the company X with the help of the path-goal leadership theory and based on the difference between the two styles of leadership, increased the employees performance level significantly, improved the client- salesman long-term relationships and brightened the overall image of harmaceutical industry. Supplier integration in the automotive industry: the impact of buyer-side leadership on motivation among suppliers The problem Due to the shortage of RD capabilities and basic management skills, domestic suppliers of Chinese automotive industry are not well-developed. As a consequence, the majority of key components are manufactured and imported from other suppliers with operations in China. However, the foreign suppliers try to integrate as many domestic suppliers as possible because of local production requirements and the specifics of an automotive industry: it is a networked field where it is almost mpossible for an individual firm to possess all the necessary expertise to produce complex machinery. Supplier integration is a complex issue that requires the understanding of the situation from different perspectives. In our case the problem of creating trust and commitment between buyers and suppliers is analyzed, and how changes of Chinese automotive suppliers mindset, competences and motivation to collaborate can be stimulated (Lockstrom et al. , 2010). Here the Hersey and Blanchards situational leadership model can be implemented as it takes into account the environment where a manager operates. Methodology In order to collect the data, the number of semi-structured face-to-face voice- recorded 2-hours interviews was conducted with 30 purchasing, quality and general managers from automotive companies, which were then transcribed. The reliability of the study was further ensured by a detailed case protocol enabling systematic data collection. A detailed script was sent to every participant during a week after the interview for review. This way a high level of dependability and reliability was achieved by researchers. Results Several assumptions can be made about the managers in the industry: first, they ave a positive attitude towards their work in general. Second, they are sure that they influence their suppliers and make them follow. Third, the managers demonstrated positive attitude towards combination of operational work and strategic planning. The study showed that in 23/30 cases (76%) cooperative/transformational leadership style prevailed in their behavior, while assertive/transactional leadership style was used in 27% of cases, and 6% choose empowering style. 27% of respondents tend to change their management style depending on the situation, using the situational eadership model to motivate a supplier when he or she does not live up to a managers expectations. As one of the managers put it, you need a carrot to motivate and a stick to implement (Lockstrom et al. , 2010). The first managerial challenge is to stimulate collaborative efforts of suppliers in order to drive supply chain performance, such as cost reduction, quality assurance, delivery reliability etc. (Lockstrom et al. , 2010). The managers actively worked on a personal level to convince suppliers to adopt the formers values and beliefs, persuading them to invest in technologies and innovations. Thus, transformational leadership is perceived to influence the suppliers mindset and commitment, motivate the latter to adapt and collaborate. However, the difficulty in managing production and delivery performance was highlighted. Despite the willingness to learn and to improve the activity (8 cases), the lack of targets and action plans as well as unstable feedback channels led to worsening of the results. That was one of the reasons why reactive attitude and hierarchical communication are met in 40 and 37% cases, respectively, although the value of personal relationships is high (57%). It was found that in most of the cases concerning production issues the buyer side took the initiative and responsibility for involving domestic suppliers in product development activities. Domestic suppliers tend to be rather reactive than proactive. Thus, the level of innovations initiated by domestic suppliers is very low. In terms of strategic planning, which includes capacity, demand or product planning, as well as sharing new ideas and setting long- term goals, only 30% of companies shared ideas with domestic suppliers, 13 firms involved domestic suppliers in capacity planning, 8 in demand planning and 9 firms lanned everything collaboratively sharing financial information with domestic suppliers (Lockstrom et al. , 2010). The time of conducting business also matters: among 8 firms which communicated strategic goals, 6 worked with suppliers for more than 10 years. The respondents of these firms stated the satisfactory level of trust and commitment. Still, it was evident that the perceived stronger supply chain partner [foreign in this case] usually dictates the activities (Lockstrom et al. , 2010). Overall, we can see the cooperative leadership style prevails in the majority of cases oncerning personal buyer-supplier relationships: the relationships with Chinese suppliers are built gradually, and the levels of trust and motivation do not heavily rely on contracts. Still, it is acknowledged by managers that it is extremely hard to motivate the person and ensure high performance level with cooperation and coaching only. The clear goals should be set and action plans elaborated, which require assertiveness of the leader, to push the supplier in the preferable direction: the supplier only learns when it hurts (Lockstrom et al. , 2010). Conclusion Overall, considering all the different leadership approaches, models and theories, it can be concluded that there is no single most efficient leadership style in terms of motivation and performance. Different leadership styles should be used depending on situation. For instance, when there is little time to make a decision and where a leader has significantly more experience or expertise than the rest of the team, the transactional leadership style would be more effective, while in a motivated group with a higher level of expertise, the transformational style should be more efficient. The chosen style should be the one that most effectively achieves the goals of the group while considering the interests of its members. Therefore, leadership style mostly depends on circumstances, time of execution and personal and professional characteristics of a leader and team members. Reference list 1. 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Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 21. The Managerial Grid as a Predictor of Conflict Resolution Method and Managerial Effectiveness / Bernardin, H. John; Alvares, Kenneth M. // Administrative Science Quarterly Mar1976 Vol. 21 Issue 1 pp. 84-92. 22. Transformational le adership and organizational culture/ B. M. Bass, B. J. Avolio, // Public Administration: An International Quarterly 1993. vol. 17 pp. 112-121. Appendix Appendix 1 Kurt Lewins Three styles model Authoritarian Democratic Laissez-faire Motivation Less High Lowest Performance Highest High Low Satisfaction Less satisfied Satisfied Not satisfied Source: Kurt Lewins Field Theory: A Review and Re-evaluation / Burnes B. , Cooke B. // International Journal of Management Reviews Vol. 1 5(2013) pp. 408-425 Appendix 2 Continuum of leadership behavior Source: How to choose a leadership pattern / Tannenbaum R. and Schmidt W. H. // Harward Business Review May-June 1973 pp. 162-180 Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013 Appendix 3 Situational Leadership Theory Task emphasis Relationship emphasis Low competence, low confidence and commitment High (instructions, directions) Low disregard of emotions) Low competence, high confidence and commitment High (instructions, persuasion) High (encouragement, incentive) High competence, low confidence and commitment Low (consultation) High (involving, teamwork) High competence, high confidence and commitment Low (consultation, delegating responsibility) Low (trust, empowerment) Source: A Preliminary Investigation of the Applicability of Situational Leadership In Other Cultures / Ramkisson A. / International Journal Of Business Strategy [serial online]. March 2013 Vol. 13(1) P. 43-48. Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013. Appendix 4 Main leadership functions according to the functional leadership model Transitional phase (Stage 1) Action phase (Stage 2) Compose team Monitor team Define mission Manage team boundaries Establish expectations and goals Challenge team Structure and plan Perform team task Train and develop team Solve problems Sensemaking Provide resources Provide feedback Encourage team self-management and support social climate Source: Leadership in Teams: A Functional Approach to Understanding Leadership Structures and Processes. / Morgeson F, DeRue D, Karam E. // Journal Of Management [serial online]. January 2010;36(1):5-39. ) Appendix 5 John Adairs Action-centered Leadership model Source: Action-centered Leadership (Second Printing) (Book). // Personnel Psychology [serial online]. September 1980;33(3):674-675. Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013. Appendix 6 Scale of leadership styles used for subordinates assessment. Source: Critical Role of Leadership on Ethical Climate and Salesperson Behaviors / Mulki, Jay P. , Jaramillo J. F. , Locander W. B. // Journal of Business Ethics Vol. 86, No. 2 (May, 2009)- pp. 125-141

Tuesday, February 18, 2020

What comparisons do the calculations of financial ratios enable us to Essay

What comparisons do the calculations of financial ratios enable us to make Take two of these comparisons, and say why the process enables management to make better decisions - Essay Example It indicates that the liabilities have increased during the year or some assets have been sold. Similarly, current ratio can be used to make comparisons with similar business. For example, a steel manufacturer may have a current ratio of 2 while another has the current ratio of 1.5. Thus, current ratio of the former is higher but it may also be due to a lot of unused assets affecting its profitability. Gross Margin, which is a profitability ratio and is the ratio of gross profit to sales, makes a lot of sense for competitor analysis. Higher gross margins as compared to other companies in similar business lines indicate healthy position of the firm. Similarly a comparison with past periods is important. For manufacturing industries, the gross margins generally reduce over time and it is the volumes that drive the profitability (Analyzing your financial ratios). Price Earnings (P/E) Ratio is the most widely used investment ratio. An increased price earnings ratio as compared to past years may indicate positive outlook for the company but if the ratio increases above a certain limit say 20, it indicates overheating and chance of immediate correction in the stock price. A continuously decreasing P/E ratio may indicate bad stock fundamentals. Similarly, comparisons with similar companies can be used by an investor to take a rational investment decision (Drake, Pamela P). Inventory Turnover ratio is a widely used investment ratio. It is the ratio of Cost of Goods sold to average inventory and indicates the speed of replenishment of stock. An increased inventory turnover ratio over previous years implies better inventory management and faster sales. However, it could also be due to lower production due to some issues. Similarly, comparison with similar businesses can be used to analyze whether the company has been able to catch up with consumer demand for its products (How to Analyze Your