Technology in business

Technology in business Summary Many companies today are competing for survival in the world market. Technology has also played very vital role in terms of boosting the competitiveness of organizations in the world market. In addition, leaders of different organizations are adopting different leadership strategies to enable their organizations to become competitive in the global market.Advertising We will write a custom report sample on Technology in business specifically for you for only $16.05 $11/page Learn More As a result, it is important for leaders of organizations to adopt leadership strategies that will boost the performance of their organizations thereby enable them to compete effectively in the global market. There are trends that are being observed in the business environment which are making it important for leaders to formulate leadership strategies that can enable their organizations to remain competitive in the world economy. However, leaders often face challenges w hich make it difficult for them to implement effective strategies to improve the performance of their organizations (Kouzes Posner, 2008). As a result, many leaders are being forced to engage in thorough research so as to enable them to come up with effective leadership strategies that will enable them to increase the profitability of their organizations considerably. Introduction Technology plays a major role in terms of boosting the competitiveness of organizations in the world market. Organizations are adopting technology so as to enable them to become efficient in their production processes. This has made them to be able to provide consumers with products that meet their needs adequately. Globalization is also growing at a very high rate. Many organizations have therefore taken advantage of globalization so as to enable them to increase their market share. This has made many organizations to be able to increase their profitability significantly. Since major organizations in the world today have made most of their operations to become global, they have been able to come into contact with different kinds of consumers who have different tastes for the products that the organizations manufacture (Kouzes Posner, 2008). As a result, organizations have been forced to be innovative while producing their products in order to make their products to be more appealing to consumers. With the advent of technology, organizations have become very competitive. In addition, organizations have realized that their productivity relies on the commitment of their employees. As a result, many organizations are employing complex measures to enable them motivate their employees so that they can also boost their productivity. However, globalization and advancement in technology have provided new opportunities for employment to people.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result, employees are finding it easy to shift from one job to another easily. However, most employees do not have the right skills which most organizations require. As a result, many leaders of organizations are implementing strategies to enable them retain the most productive employees. It is therefore true that leaders of different organizations all over the world are being faced with the challenge of handling emerging trends in the global business environment. Most leaders are therefore implementing strategies aimed at ensuring that their organizations adopt sophisticated technology to enable them provide quality products to their customers. In addition, they are focusing on adopting globalization and diversity so that they can be able to address the different needs of customers in different parts of the world. In addition, they are focusing on extending their supply chains so that they can be able to minimize the costs of the products that they manufacture. Moreover, they are ensuring that they retain their most productive employees so that the productivity of their organization can keep rising. Wal-Mart present form analysis Organizational structure Wal-Mart is a multinational corporation which has its headquarters in the US. It is one of the main private employers in the world. It has an employee base of about 2 million. Regional Vice Presidents (RVP) are the ones who manage the organization at the regional level. The RVPs are based in Bentonville but they usually travel to their respective regions for three weeks every month in order to ensure that the operations of the regions are in line with the expectations of the company. All the regional managers are required to meet with the Bentonville-based executive leaders so that they can be able to discuss the various challenges that face all Wal-Mart’s stores. Every region has about eleven districts. Each district usually has about 7 stores. However, it is the goal of a district manager t o ensure that all the activities of the organization are run smoothly at the district level. The District Managers usually work hand in hand with the Regional Personnel Managers (RPMs) to ensure that any issues relating to the operations of the stores are addressed adequately. It is the duty of the RPMs to select the people who manage individual stores. Wal-Mart stores are therefore designed in such a manner that the managers of the organization are the ones who allocate duties as well as monitor the activities of employees within the organization. The managers also identify any changes that need to be implemented to the stores in order to ensure that all the production processes within the stores are in line with the goals of the entire organization (The Wall Street Journal, 2012).Advertising We will write a custom report sample on Technology in business specifically for you for only $16.05 $11/page Learn More Workforce diversity Wal-Mart treats all employ ees equally. As a result, Wal-Mart ensures that all the employees within the organization have equal rights with regard to accessing the resources of the organization. It ensures that all the employees are given sufficient support so that they can be able to achieve their full potential thereby increasing their productivity significantly. Wal-Mart believes that diversity is the foundation of a sustainable business. As a result, it respects all the employees who work in it. It ensures that its employees work together thereby ensuring that the organization continues being the leader in the provision of quality products and services to its customers. To ensure that it continues being a global leader in all the activities that it engages in, Wal-Mart adopts diversity a part of its business plan to enable it incorporate all the needs of its employees in an effective manner. Wal-Mart believes that respecting diversity enables its employees to live with each other in a peaceful manner (The Wall Street Journal, 2012). Customer diversity Most business enterprises engage in production processes which please their customers. With the advent of globalization therefore, most business enterprises in the world today engage in production processes which enable them to produce products that meet the exact needs of their customers. Therefore, many multinational corporations look for markets in different parts of the world where customers have different tastes. To increase their sales therefore, most organizations produce goods which address the needs of the different types of customers adequately. In order to capture a large market share, Wal-Mart provides its customers with a wide range of products to choose from. It also customizes its products depending on the needs of its customers in different parts of the world. To ensure that the customers remain satisfied with the products that they obtain from Wal-Mart, the company engages in market research in order to identify the ex act needs of its customers. This strategy guides Wal-Mart while customizing the products for its different types of customers who are located in different parts of the world (Lueneburger Goleman, 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Communications technology Advancements in information technology have played a vital role in terms of revolutionizing the manner in which businesses communicate with their customers. Advancements in information technology have made it easy for organizations to communicate with their customers in an efficient and faster manner. It has also enabled organizations to reduce their costs of production drastically. As part of its growth strategy therefore, Wal-Mart has invested in a communication infrastructure which has enabled it to improve the way it interacts with its customers. Wal-Mart has a satellite communication system in the United States which links all its stores to the headquarters. This has made the process of managing the organization easier. Wal-Mart also uses Retail Link and EDI applications over the internet thereby making it possible for the company to exchange data with its suppliers easily all over the world. In addition, it uses Web 2.0 and social networking tools to enable it interact with its customers more effectively. Wal-Mart Future trends The workplace today is experiencing significant changes. This is because people are getting more educated thereby impacting on the way in which they conduct their daily operations. People today are more efficient in the activities that they perform. In addition, education has become global thereby enabling people from all over the world to share ideas and improve their working skills. In the case of Wal-Mart, it hires qualified personnel from different parts of the world thereby enabling it to benefit from the diverse skills which the employees possess (Lueneburger Goleman, 2010). Technology has also played a major role in terms of enabling people to perform their daily activities more efficiently. By adopting technology, organizations are able to improve the productivity of their employees thereby impacting positively on their profitability. This state of affairs has enabled organizations to increase th eir sizes and competitiveness significantly. In addition, technology and globalization have made it possible for people to move from one country to another in search of descent jobs. The work environment is experiencing exponential change today. As a result, the manner in which people perform their daily activities is also changing. Therefore, by year 2020, workforce will be completely different than it is today. For example, it is said that employee diversity is expected to prevail in 2020. This is because organizations will experience cultural diversity in the workplace. As a result, employees within the organization will have a broader set of values and believes than today. It is said that the generational divide will create disparity in the way young and old people work. It is therefore important for organizations to learn how to manage the different cultures and expectations. Since Wal-Mart operates globally, it encounters people who come from diverse cultural backgrounds. Wal- Mart will therefore be required to devise leadership strategies which will enable it to unite the different groups of people working within the organization so that they can contribute towards the overall productivity of the organization (Lueneburger Goleman, 2010). Employment will be expected to shift to deployment since labor force will be more mobile. In addition, it will be possible to work in any part of the world at any time. In order to ensure that it provides the best quality products to its customers therefore, Wal-Mart should ensure that it hires highly qualified personnel from different parts of the world. It should also pay its employees competitive wages so as to ensure that it retains the most productive and talented employees. The jobs available in 2020 will also require high level qualifications. However, since there is a shortage in the number of people who are qualified, growth and innovation is expected to experience serious challenges. It is said that most of th e population in developing economies is aging. By the year 2020, approximately 25 percent of Europeans will be over 60 years old. As a result, the aging workforce will either want to retire early or wish to work for few hours thereby reducing the profitability of organizations. By 2020, more than one third of the data will be sent through the cloud. Therefore, technology will bring together employees, clients and partners. This will enhance collaboration and improve transparency in organizations. In order to be ready for the transformation, Wal-Mart should hire highly qualified personnel who will enable it to remain competitive in the global business environment as well as enable it to cope with the various challenges that are brought about by globalization. More women are expected to take up most leadership positions in the work environment by 2020. It is said that 1 out of every 3 workers will be a woman. This will change the culture of many companies since the management style th at women adopt is different from the one that men adopt. In a research that was conducted on 500 fortune 500 companies, it was observed that the companies which had more women in leadership positions attained higher return on equity. Studies reveal that most women usually manage organizations in a more cautious manner than men. Many women focus on the long term goals of their organization (Kouzes Posner, 2008). It is therefore important for Wal-Mart to consider the issue of hiring more women in positions of leadership in order to ensure that it benefits from the unique leadership style that women practice. Telecommuting is a different kind of work atmosphere that is expected to have significant impact in the way organizations carry out their daily operations. Many organizations are adopting this type of job structure because of its convenience. Telecommuting provides opportunities such as video conferencing, Hot Desks, and smaller offices. By adopting telecommuting, organizations e nd up with flexible workforce and they also reduce recruitment costs. When companies enable remote working conditions, issues such as traffic congestion will reduce significantly. It is therefore important for Wal-Mart to incorporate some aspects of telecommuting to enable it reduce the time wasted while commuting as well as enable its employees to be flexible while working within the organization. Leadership trends impacting on Wal-Mart Wal-Mart implements unique leadership strategies which enable it to become successful in its operations. The company ensures that information flows smoothly from the headquarters to every store. The people from the headquarters are the ones who are sent to the stores so that they can gather information about competitors and other challenges that the stores might be facing. However, Wal-Mart’s competitors require the people from the local stores to go to the headquarters in order to give out information about the performance of the businesses. The unique practice by Wal-Mart enables the local stores to develop a close relationship with the people at the headquarters. This state of affairs has enabled Wal-Mart to be able to respond to the demands of its customers on a timely basis (Businessweek, 2010). The relationship between senior executives and employees at Wal-Mart is based on close communication, respect and high expectations. Though the employees are not given high salaries, they usually enjoy other benefits such as health care plans, profit incentives, and retirement schemes. The company also advocates for an open-door policy and provides a variety of promotion opportunities thereby enabling the employees to remain committed to realizing the goals of the organization. Though this strategy is not common in large organizations, it usually adds value to Wal-Mart’s employees thereby enabling them to devote themselves to their jobs as well as offer the customers high quality services. Technology has played a ver y important role in enabling Wal-Mart to be successful in its operations. Technology has helped Wal-Mart to improve the relationship it has with its customers and employees. The customers can therefore easily access the various services that the company offers through the internet. As a result, it is possible for customers to find more information about the products before making an actual purchase. In addition, the company has a very responsive support team who usually address any queries that the customers make. Recommended Changes for the future Leadership actions to be taken The global business world is very competitive today. As a result, it is important for an organization to ensure that it implements strategies which can enable it to run smoothly. Therefore, in order for Wal-Mart to continue being competitive in the world today, there are certain measures that it should adopt. Wal-Mart should invest in its employees. It should ensure that its employees are versant with the mo st complex means of production. Since technology keeps advancing, Wal-Mart should ensure that its employees get relevant training regarding the technology is use. This would ensure that the productivity of the employees within the organization remains consistent. In addition, the company should consider hiring talented people who would be responsible for handling sensitive tasks within the organization. In order to attract highly talented people, Wal-Mart should award its employees competitive salaries as well as give them rewards whenever they demonstrate exemplary performance. This would have the effect of boosting the productivity of the employees within the organization thus increasing its competitiveness (Businessweek, 2010). Digital proficiency is also an issue that organizations need to consider while carrying out their usual activities. The organizations that implement digital technology in their operations are usually very efficient in their production processes. As a resul t, it is important for Wal-Mart to ensure that it implements digital technology in all its operations in order for it to make its production processes faster and more efficient (Businessweek, 2010). The leaders at Wal-Mart should take time to learn about the strategies that the competitors implement. This way, the company would be well aware of the strategies that is should adopt so as to enable it to cope with the competitive pressure in the global market. The company can therefore be able to implement other strategies which would counter the strategies that the competitors adopt. It is therefore important for Wal-Mart to hire a team of researchers once in a while to enable it understand the market trends and the kind of strategies that it should adopt so as to succeed in the market. Concepts Application Diversity Management Diversity management refers to a situation whereby an organization is able to handle a diverse group of employees who work within the same organization. Divers ity in organizations is usually observed when they employ people who belong to different cultures or whereby young and old people are made to work together in an organization. In the case of Wal-Mart, diversity management is observed because the company is able to manage the different groups of employees within the organization thereby enabling them to work together to realize the goals of the organization. Leadership models Leadership models refer to a situation whereby certain key employees within an organization are allocated the duty of managing other employees in the same organization. In the case of Wal-Mart, the leadership process is hierarchical in nature. At Wal-Mart, the Regional Personnel Managers are the ones who manage all the activities of the stores in all the regions. The District managers on the other hand are the ones who give out information to the RPMs regarding the performance of the stores at district levels. Ethics Ethics refer to the acceptable codes of condu ct in every organization. Wal-Mart practices ethics by ensuring that all the rights of the employees within the organization are respected. It also ensures that the customers are treated fairly and that the employees receive fair salaries. Moreover, Wal-Mart adopts production processes that are friendly to the environment. Decision making models These refer to the manner in which decisions are made within an organization. In the case of Wal-Mart, the top-level managers give employees an opportunity to participate in the decision making process in order to ensure that the decisions made within the organization are effective and that every employee within the organization is able to comply with them. Problem solving This refers to a situation whereby an organization is able to address any problems that arise within it on a timely basis. For example, Wal-Mart is usually very cautious with regard to addressing issues such as production of defective products. It always ensures that any p roblems that arise are addressed in the shortest time possible in order to ensure that customers remain loyal to the organization. Conflict management processes Conflict management refers to a situation whereby an organization is able to address any conflicts that arise between employees and customers. Wal-Mart ensures that its employees and customers relate positively with each other. It does this by ensuring that the employees are well-trained to handle all customers’ queries politely. This makes the customers to trust in the products and services that Wal-Mart offers. References Businessweek. (2010). Methodology: Best Companies for Leadership. Web. Kouzes, J. M., Posner, B. Z. (2008). The Leadership Challenge. New York: John Wiley and Sons. Lueneburger, C., Goleman, D. (2010). The Change Leadership Management Sustainability Demands. Web. The Wall Street Journal. (2012). Global Leaders Urged to Support New Action Plan to Wipe Out Illiteracy by 2020. Web.

MDCM part B Case Study Example | Topics and Well Written Essays - 1250 words

MDCM part B - Case Study Example aper will discuss the recommended IT projects and compare the most suitable projects through using Portfolio Application Model Matrix which will be beneficial for MDCM. MDCM had confronted with several problems regarding IT and thus the company had prepared a list of IT projects which will be appropriate for improving the business performance. The objective of those IT projects is to increase value of the business and develop smooth information flow throughout the organization and lack of information was one of the major problems of MDCM. The following projects will be appropriate for MDCM in order to improve the profitability of business: It has been observed that different standards in information systems have resulted in increased contradiction and at times the projects intersect with each other. The lack of synchronization among different standards cause imperfect outcomes which in turn lead to inappropriate forecasts, scheduling problems and overfilled inventories among others. Thus, there was need to reduce the numerous different standards throughout the company. The Unify Methodology and Technical Standards aim for minimizing the projects cycles and inspire knowledge distribution within IT development groups. This initiative is vital for developing the ability of information technology systems in MDCM (Jeffery, M. & Norton, J. H., â€Å"Strategic IT Portfolio Management). Consolidation of data center and networks is made in order to reduce the expenses. In today’s business environment, meeting up to the competition and complying with the regulatory measures are the driving forces for organizations such as MDCM to shift company’s network to virtual private network (VPN). MDCM along with the subsidiary companies had almost 37 data centers and 19 distracted networks globally. Data consolidation will help MDCM to expand the business swiftness and also would align strategic IT structure with business requirements. It will be more reliable for MDCM to develop

Managing Decision Making Assignment Example | Topics and Well Written Essays - 1000 words

Managing Decision Making - Assignment Example    Literature Review & Summary of Research Findings- Simon's Model of Decision According to classical decision making theory, individuals need to gather information regarding the emergent issue, then search for plausible alternativeness which can be used in order to address the issue and then select the most optimal alternatives (Bechara and Damasio, 2005). But, Simon (1979) criticized the classical decision making approach by stating that model doesn’t correspond with real world decision dilemmas. One needs to understand the key steps in Simon’s decision making model in order to criticize or appreciate it in context to research works of different research scholars. Bechara and Damasio (2005) stated that there are three phases in Simon’s decision making model such as, 1- intelligence phase, 2- design phase and 3- choice. Intelligence Phase- in the intelligence phase, individuals formulate the problem or decision statement by comparing the current process status with historical data or reference points. In this phase, individuals gather information from external environment without knowing exact outcome of such information crunching. Design Phase- in this phase, individuals try to formulate the probable alternatives to address the decision statement by considering the gathered information from macro environment. Decision makers need to analyze the information collected from external environment in order to generate alternative approach to the problem statement. Choice- in this phase, individuals select the most feasible alternative in order to address the decision problem or take decision. Important thing to remember that, the most potential alternative to the decision problem might not be the most feasible one hence decision makers must take care while selecting potential choice. There is no doubt that Simon’s decision model is based on the concept of bounded rationality. Simon (1979) pointed out that rational decision making becom es difficult due to various reasons such as lack of knowledge about all the alternatives, uncertain events, inability to calculate consequences, lack of knowledge about the consequence of particular decision, human behavioural limits etc. Due to such shortcomings, rationality of any decision making is subjected to be bounded hence a decision cannot be optimized. Sent (2005) supported the bounded rationality model of Simon and stated that although rationality might be the goal for decision making but ability of the decision maker is limited due to cognitive (such as personal values, lack of computational ability, reflexes and lack of knowledge) as well as exogenous factors (uncertainty regarding the outcome of decision). DellaVigna (2009) stated that the concept of bounded rationality is very much pertinent in context to modern day business problems while Bromiley (2005) appreciated decision making model of Simon for its usability in investment decision making and behavioral economic s. However, there are other group of research scholars such as Campitelli and Gobet (2010) and Levinthal (2011) who criticized Simon’s decision making model for lacking in depth. Levinthal (2011) stated that decision makers need to create representation in explicit or implicit manner while making deductive reason

Analysing Different Theories Of Competition Economics Essay

Analysing Different Theories Of Competition Economics Essay The nature of competition and its consequences on key economic variables, such as prices, profits, and growth, have always been important for theoretical and empirical investigation. (Tsalik and Tsoulfidis, 1998, p.187) Many non-economist and even many economists use the term competition loosely to apply to markets that we refer to as non-competitive and some people use the term competition to refer to a market in which a few price-setting firms compete vigorously for sales. (Carlton and Perloff, 2005, p.85) Different terms of competition can be applied by the extent of market power. As Ochoa and Glick argued, in comparing competing theories, it is difficult to single out the variables that represent each theory and one should begin by evaluating the most typical representation of each theory. (Blaug, 1978, p.697) First of all, the essay will present the standard neoclassical view of competition. In the next section, it will show the Austrian criticism of the standard theory. Then, turn to the Post-Keynesian criticism of the neoclassical theory of competition. Lastly, it will focus on the significance of the both criticism of the standard neoclassical view of competition. Lets start with standard neoclassical theory of competition; generally speaking, neoclassical theorists who are the mainstream economists extended Smiths theory, classical theory, of a market system by formulating several conditions under which efficient resources allocation and an optimum level of social welfare would be realised. (Semmler, 1982, p 93) That is to say, in neoclassical theory, there are largely two main concerns of the school of thought, which are utility maximisation and resource allocation. Moreover, it is also believed that the mainstream microeconomics, neoclassical theory, considers the real world of markets, just as if observed phenomena characterise the fulfilment of equilibrium conditions. According to Tsaliki and Tsoulfidis, (1998) competition is regarded as a position of equilibrium that would prevail if there would be free exit and entry of firms, in terms of neoclassical view of economics. As Semmler indicated, in terms of neoclassical theory, the main conditions, necessary for a perfectly working competitive market system, are seen as: profit maximising producers and utility maximising consumers; a sufficiently large number of market agents; no externalities among their activities; and perfect mobility of resources between industries; and perfect foresight. (Semmler, 1982, p.93) As following the conditions we argued, it can assume that competitive procedures lead prices into equilibrium prices. As Semmler said, (1982) competition can lead disturbances eliminated and an optimal allocation of resources brought. Moreover, throughout the market system the existence of equilibrium prices are guaranteed. In this manner, both equilibrium and optimisation are regarded as distinctive features of neoclassical theory. In short, under neoclassical theory, Tsaliki and Tsoulfidis stated that the intensity of competition generally depends on the number of sellers and buyers on the market structure of an industry. (Tsaliki and Tsoulfidis, 1998, p.188) Therefore, firms competitive behaviour is getting more effective as long as the number of firms in a specific industry is getting larger. As a result of this, Tsaliki and Tsoulfidis argued that competition produces an equilibrium set of prices that induce a Pareto optimal allocation of the economys goods and services. (Tsaliki and Tsoulfidis, 1998, p.188) On the contrary, if the number of seller and buyer is getting smaller, the oligopolistic and monopolistic behaviour in the market is getting more and more. Consequently, some prices are above marginal cost and it is shown as underutilisation and underproduction even if they have available resources. It is called non-competitive equilibrium position. For that reason, Tsaliki and Tsoulfidis argued that within the standard microeconomic theory of the firm, the persistence of profits in excess of normal is always associated with market imperfections, and therefore, with some degree of monopoly power. (Tsaliki and Tsoulfidis, 1998, p.188) Semmler believed that the features of standard theory need some qualifications, which is there are three main qualifications. Firstly, one of the qualifications is quantity theory of competition. As it mentioned above, the intensity of competition in the market can be measured by the quantity theory of competition. It can mean that sufficiently large number of firms can lead to the optimum level closely. Next comes to one of the key assumptions is prices and quantities congregate on the way to an equilibrium driven by competitive features. Lastly, the elimination of uncertainty, risk and expectation, is the third features of the neoclassical view of key assumptions. Furthermore, in this theory, As Tsaliki and Tsoulfidis mentioned, firms are mainly seen as passive, that is-given the consumers preferences and the technological opportunities-they merely react to parametrically given prices. (Tsaliki and Tsoulfidis, 1998, p.188) The work researched by Tsaliki and Tsoulfidis (1998) showed that the market structure of industries tends to be the core factor of neoclassical empirical studies with respect to observed interindustry profit rate differentials. Moreover, they believed that many neoclassical economists consider barriers to entry at least as equally significant as the degree of industry concentration. According to Vaughn, he argued that the Austrian tradition is represented in modern economics by a very vocal, feisty and dedicated subset of the economics profession (Vaughn, 1994, p.11) Generally speaking, the approaches researched by the Austrian writers have contributed to most primary problems of microeconomics, for sure. According to Kirzner, the fundamental theory of Austrian approaches is the conviction that the standard neoclassical microeconomics, for which the Walrasian general equilibrium model (in its modern Arrow-Dbreu incarnation) is the analytical core, fails to offer a satisfying theoretical framework for understanding what happens in market economies. (Kirzner, 1997, p.61) In terms of the Austrian approach, imperfect information can be decided as involving an element whilst it cannot be a part of neoclassical elements. Modern Austrian theory can be discussed as several main factors, which play a significantly important role in Austrian theory. In the paper, we will focus on two significant element, entrepreneurship and equilibrium concepts to understand Austrian criticism of standard view. The key point of the main factors in understanding the competitive process is entrepreneurship, the driving aspect in the Austrian theory. To understand entrepreneurial discovery approach needs to be aware of understanding actions, conditions and circumstances of entrepreneurs. Moreover, it is also pivotal to understand the nature of uncertainty. In the Austrian theory entrepreneurs always face uncertainties, which are pervasive and which are risks and fundamental uncertainties. Unlike the neoclassical theory, Austrian theory can be stated as unknowable due to the uncertainty. Nevertheless, it is not unimaginable because in Austrians the role of agents imagination, which is an unknown idea in neoclassical theory, plays pivotal role to create the future. According to Kirzner, the entrepreneurial discovery approach has echoed criticisms of equilibrium economics and have deployed criticisms in seeking to demote the concept of perfect competition from its position of dominance in modern neoclassical theory in order to replace it by notions of dynamic competition. (Kirzner, 1997, p.64) The entrepreneurial discovery approach has been affected by the work driven from Mises and from Hayek. In terms of Mises view, he believed that the market is regarded as entrepreneurially driven process under Austrians. Moreover, Hayek focuses on the role of knowledge and its enhancement throughout the market interaction. For Mises, entrepreneurship is human action seen from the aspect of the uncertainty inherent in every action (Mises, 1949, p.255) He, also, focus on the importance of entrepreneur who is always every actor in any real and living economy. According to Kirzner (1997), each decision made by neoclassical theory is made within a without doubt known framework. Consequently, it has believed that in neoclassical idea, there is no specific role and opportunity for entrepreneurship differed from Austrian microtheory. It means that, simply speaking; there is nothing entrepreneur can do. In this manner, it shows that whereas each neoclassical decision market operated in a world of given price and output data, the Austrian entrepreneur operates to change price/output data. (Kirzner, 1997, p.70) Now, the essay will focus on the Austrian criticism of the equilibrium idea of the standard neoclassical theory. As Kirzner (1997) mentioned neoclassical economics operates on the assumption that the world reflects the relationships that would prevail in such equilibrium models with the model of competitive equilibrium being the favourite one However, generally speaking, the Austrian approach disagrees and criticises this approach to understanding markets. According to Kirzner (1997), he has believed that the Austrian theory is based on individuals whilst the neoclassical theory considers the individual decision as a mechanical exercise in constrained maximisation. Therefore, it has believed that the process of competition is open-ended for Austrians but not for neoclassical theorists. As Kirzner (1997) argued, Within the neoclassical theory, the only explanatory means for understanding prices and outputs is to admit equilibrium theory. However, under Austrian concepts, it cannot be acceptable. Post-Keynesian economics is essentially a response to the failures of neoclassical theory and its inadequate characterisation of economic activity. (Davis, 1987, p.552) Now, the essay will discuss the significance of Post-Keynesian criticism of the standard neoclassical view of competition. Post-Keynesian economics has passed through the important initial change of mounting a concerted critique of mainstream economics (Arestis, 1996, p.11) In terms of alternative theories of competition, Post -Keynesians are defined as two key factors; which are dominant firms and administered prices unlike neoclassical theory. However, by and large, Post-Keynesians, who are a various set of economists, do not have generally accepted theory of competition. Nevertheless, Kalecki, who set the main tradition of Post-Keynesian theory, argued that the majority of Post-Keynesians maintain the above outlined classical cross-over dynamical process only for the primary sector of the economy characterised by a large number of producers, rigid supply in the short run, and flexible prices, which are demand determined (Kalecki, 1969, p.11) Moreover, uncertainty, is one of the most key factors of Post-Keynesians concern, is regarded as a reflection of real-world decision-making. In terms of Lavoies view, he indicated that Post-Keynesians have noted that oligopolies constitute their representative Post-Keynesian industry. They believed that oligopoly is the general state in most markets. Under Post-Keynesian theory, prices are decided by dominant firms not by markets. In this manner, it has believed that prices are administered in accordance with firms objectives, more particularly, prices of finished goods are set by a mark-up pricing on some measure of unit costs not by market clearing prices. Lavoie argued that the issue of the domain of validity of the Post-Keynesian firm by saying that Post-Keynesians assert that there are hardly any markets where prices are not administered by firms. As a result, he indicated that most industries are to some extent imperfect or monopolistic markets, even those that at first sight might appear to be competitive. (Lavoie, M, 1992, p.98) Generally speaking, economic movements in real markets cannot fully explain by one specific theory. For example, according to Davis (1987), in the 1980s the number of individuals both in and outside economics has come to perceive the world beset by economic crisis. However, orthodox neoclassical theory has been largely unresponsive to these developments. Therefore, we need alternative theory to response the problems such as Austrian theory and Post Keynesian theory. We have focused on tree theory, which are standard neoclassical view, Austrian theory, and Post-Keynesian view of competition. Austrian view of competition emphasises on the entrepreneurial rivalry to explain competition whilst Post-Keynesians are determined by dominant firms and administered prices theories. The significance outcome we need to focus in the essay is to evaluate the relevance of the neoclassical orthodoxy, Post Keynesian, and Austrian theories of competition. Therefore, we can examine the appropriate way to contribute problems occurred.

Effective Research and Writing Essay

To be successful in the new market segment, our team must efficiently accomplish the goals set by the company. A leadership approach for each team member was developed based on the theories of leadership and each member’s individual personality. Marie and Teresa’s Personality Assessment Based on the results of the personality assessment, Marie and Teresa possess extroverted, intuitive, feeling, and perceiving attributes (â€Å"What’s My Jungian 16-Type Personality Self-Assessment,† n.d.). They are people-oriented, creative, and highly optimistic. They are motivated by interactions with people and enjoy a large social circle of acquaintances that require social situations to fuel their energy. Their personalities tend to focus their attention on the big picture rather than the details and prefer to have different options should circumstances change. They respond to the need for urgency to accomplish goals and they value proactivity to become a successful part of the group. Leadership Approaches I plan to lead them by using a democratic and participative style of leadership successfully. I will make sure to involve them in my decision-making process, delegate authority, and encourage their feedback. I will also use a transformational approach because of their need to be connected to their leader and their feeling of reaching their optimal potential in the workplace. Jim’s Personality Assessment Based on the results of the personality assessment, Jim possesses extroverted, sensing, thinking, and judging attributes (â€Å"What’s My Jungian 16-Type Personality Self-Assessment,† n.d.). He is realistic, logical, analytical, decisive, and has a natural head for business or mechanics. He is also motivated by interactions with people and requires social situations to fuel his energy. His personality tends to focus on the details rather than the big picture and prefers logical considerations over social ones when making decisions. He is a planner and he gains influence through predictability. He focuses on immediate outlooks rather than future possibilities. Leadership Approaches I plan to lead him by using a democratic and participative style of leadership. I will make sure to involve him in my decision making process, delegate authority, and encourage his feedback. I will also use a contingency style of leadership that focuses on task orientation because of his need to organize and run things in a business. His motivation for urgency will be emulated through his realistic expectations and attaining goals based on analytical and decisive approaches. Mary’s Personality Assessment Based on the results of the personality assessment, Missy possesses extroverted, intuitive, feeling, and judging attributes (â€Å"What’s My Jungian 16-Type Personality Self-Assessment,† n.d.). She is charismatic, compassionate, and highly persuasive. She is also motivated by interactions with people and enjoys a large social circle of acquaintances that requires social situations to fuel her energy. Her personality tends to be more conceptual than practical and she values personal considerations over criteria that are objective. Leadership Approaches I plan to lead her by using a democratic and participative style of leadership. I will make sure to involve her in my decision making process, delegate authority, and encourage her feedback. She tends to plan her activities and possesses outstanding time management skills, so her sense of urgency to complete a task is high. I will also use a charismatic-visionary style of leadership that allows me to articulate the vision and be willing to take risks to achieve it (Robbins & Coulter, 2012). Rick’s Personality Assessment Based on the results of the personality assessment, Steve possesses introverted, intuitive, thinking, and perceiving attributes (â€Å"What’s My Jungian 16-Type Personality Self-Assessment, â€Å"n.d.). He is socially cautious, enjoys problem solving, and is highly conceptual. He prefers interacting with a small group of friends because of his tendency to be quiet and reserved. He is a planner who gains influence through predictability and focuses on future possibilities rather than immediate outlooks. Leadership Approaches I plan to lead him by using a laissez-faire style of leadership because it will allow him to make his own decisions because he has little regard for titles. His tendency to withhold judgment and his delay of making important decisions can create a challenge when deadlines need to be met. His personality prefers to work alone because of his need for independence, so I will be able to manage him effectively when I make sure that his competencies match his interests. By adjusting my leadership style to conform to each member’s personality, I am confident that my team will efficiently accomplish the goals set by the company. Our new department will be effective in the new market segment and fulfill the company’s strategic plan.

“Kite Runner” response text analyses Essay

â€Å"The Kite Runner† tells us, through Rahkim Khan that, â€Å"True redemption is when guilt leads to good again†¦ † Rahkim Khan states. Throughout the course of The Kite Runner there are many characters that have committed sins and subsequently attempted to redeem themselves. The Kite Runner structured around main characters, Amir and Baba and their acts of betrayal. The impact of these acts continues to be felt throughout the novel manifesting itself in Amirs guilt ridden narrative. However, guilt is not enough. The need for redemption and atonement is what these characters seek. â€Å"There is away to be good again† the kite runner shows that this is along painful but ultimately positive journey. Amir’s feelings of guilt spring from incidents of betrayal throughout his childhood. Since 1975 when Amir watched as Hassan was raped in an alleyway by Assef, â€Å"I ran because I was coward. I was afraid of Assef and what he would do to me† Amir feels guilty for his cowardice s but it was not fear that drove him away the real reason Amir ran was Baba. Amir was so envious of Baba and Hassan’s friendship that he thought Assef was right. â€Å"Maybe Hassan was the price I had to pay the lamb I had to slay to win Baba†¦. He was just a Hazara wasn’t he? † This event not only affected Hassan and Amirs friend ship but still made Amir highly jealous of Babas concern for Hassan, † ‘I haven’t seen much of Hassan in the last few days’ Baba said†¦ I couldn’t help hating the way his brow furrowed with worry† Amir’s selfish personality handy caps his chance to be good again and redeem himself for the past. Amir places Hassan in the position to be framed and sets him up for theft of Amirs birthday presents, this incident clearly shows that Amir approaches atonement the wrong way. â€Å"I lifted Hassan’s mattress and planted my new watch and a handful of afghani bills under it†¦ then I knocked on babas door and told what I hoped would be the last in a long line of shameful lies. † Hassan’s loyalty leads to Ali and his departure to grant Amirs wish, â€Å"I wanted Baba all to myself† Amir’s actions changed his and Baba’s life forever. Amir has stolen his father’s right to a best friend, his relationship with his hidden son and taken away Ali and Hassan’s job and security within their family. In many respects, Amir’s adult personality is now the direct result of this childhood, feelings of guilt and betrayal. Amir attempts to redeem himself by planting money in Fahibs family house â€Å"I did something I had done 26 years earlier: I planted a fistful of crumpled money under a mattress. † He also tries to ally his feelings of guilt by taking Sohrab out of Afghanistan and back to America, the way he should have done with Hassan. In All Amirs efforts, he does become a better person once he is situated in America however he doesn’t redeem himself for what he did as a child. Nothing will, â€Å"It didn’t make everything all right, it didn’t make everything all right†. Amir is not all to blame for his insecurity and lack of self-esteem, this personality is the result of Baba’s bad parenting. â€Å"If I hadn’t seen the doctor pull him out of my wife with my own eyes, I’d never believe he’s my son. † Baba is not a supporting father towards Amir or Hassan. Throughout the book, Baba tries to redeem and atone himself for neglecting a secret child. He attempts to achieve this by raising Hassan equality to Amir however by doing this it disallows Baba to be close to Amir as feelings of guilt towards Hassan arise; hence taking the right to a loving family away from Amir and Hassan, for not speaking the truth. Baba’s betrayal is directed at Ali for sleeping with his wife. â€Å"There’s only one sin†¦ and that is theft. Every other sin is a variation of theft† Baba illustrates his deduction to atone for his actions using his wealth he builds and orphanage for illegitimate or orphaned children. Baba feeds the poor with his ceremonial lamb money. Baba also using his courage and urge to fight for what is right this is evident when he protects the afghani women in chapter ten from the Russian soldier, â€Å"†¦ ill take a thousand of his bullets before I let this indecency take place. † Baba’s decision to abandon home and his country are a evident sign of sacrifice to secure Amir’s long-term welfare and happiness. His attempts of redemption and atonement to be good again result in his feelings of achievement the day that he dies. â€Å"Tonight I am much too happy† If â€Å"The Kite Runner† tells us anything it is that redemption is a life long task, through which a person seeks to become â€Å"Good Again. † A person needs to forgive themselves of their sins and absolve them of guilt in order to go on living their lives. Throughout the corse of ‘The kite Runner’, we learn that guilt is not enough. To be good again is more than the journey of redemption and atonement it is the destination.

Linking Schooling And Culture And The School - 942 Words

That’s Just Good Teaching †¢ Linking Schooling and Culture This portion of the paper discussed how to promote â€Å"a closer fit between students’ home culture and the school† (Ladson-Billings, 1995, p.160). If the students had a closer fit with their home and school they would be more likely to succeed in school (Ladson-Billings, 1995). †¢ What is Culturally Relevant Pedagogy? â€Å"Culturally relevant pedagogy rests on three criteria or propositions: (a) Students must experience academic success; (b) students must develop and/or maintain cultural competence; and (c) students must develop a critical consciousness through which they challenge the status quo of the current social order† (Ladson-Billings, 1995, p.161). For academic success, teachers have to teach the students in a way that gets students to choose academic success. For cultural competence, teachers need to utilize the student’s culture as a â€Å"vehicle for learning† (Bilings, 1995, p.162). 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