The Value Of Philosophy And Its Influence On Society

The value of philosophy lies in its ability to influence a society and/or provide wisdom to others. Often philosophy is mistakenly thought of as inadequate compared to science. Breakthroughs in medicine allow us to live healthier and longer lives; While technological advances allow for a more connected and convenient world. Despite popular belief, philosophy is just as evident as science in advancing society. Contrary to the empirical measurement’s that science provides, philosophy provides wisdom and a new way of thought. Philosophers like Socrates, Audre Lorde, and Zhuangzi seeked knowledge to further develop their society. In some instances, a philosopher’s idea came to be reality, for instance Mary Wollstonecraft’s and Karl Marx’s ideas. Philosophy is found behind everyday laws, culture, etc†¦ The impact philosophy truly has on society is grand though it might be difficult to recognize. Socrates was known for challenging the people of Athens, incl uding the leaders, about their views and conventional ways. The Apology by Plato describes Socrates defending himself against an accusation involving the corruption of the youth. Socrates defends himself by stating that he knows he is not the wisest of men however that in itself proves he is wise. This, in return, explains why he has made it a duty of his to call out the leadership of Athens and prove their deceptiveness. According to Plato Socrates stated, â€Å"I am that gadfly which God has attached to the state, and all day longShow MoreRelatedPlato and Platipus1186 Words   |  5 PagesIt is normal to underestimate the power of philosophy. It is a social science that has lost influence in the 21st Century because many do not understand how this science can help humans achieve true happiness. Though philosophy is a heavy subject, it is the science with the most results regarding human nature and knowledge. Philosophy offers guidance to understand human behavior as well as to q uestion our presence and our real role in society. It is one of the leading social sciences because manyRead MoreWhat Does Culture Affect Hr Philosophy, Policies And Programs?1098 Words   |  5 Pages1.- Culture gives societies their distinctive flavor and provides a guide as to how people interact and what they expect from one another. How does culture affect HR philosophy, policies and programs? Culture consists of symbolic system of values, attitudes, beliefs, and perceptions about appropriate behaviors that are shared in our society as a way of life. In other words, culture is a set of meanings (senses) and values that inform a particular way of life. It is lifestyle that shape and formRead MoreMy Personal Philosophy Of Nursing1053 Words   |  5 Pagesrules, beliefs, theories, and principles. This aforementioned are the podium upon which the value and philosophies of the success of each profession is based. 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This means that an individual that wishes to know why a laptop is a laptop or why is it thatRead MoreEthics Philosophy : Ethics And Ethics Essay976 Words   |  4 PagesEthics Philosophy A personal ethics philosophy helps a person to maintain and employ good morals and values that are important in a one’s life. Understanding the importance of ethics is critical in order to consciously work to develop and effectively utilize ethics. Therefore, accepting the importance of one’s ethical philosophy will result in ethical decision-making, therefore developing the ability to put ethical theory into practice create ethical conditions albeit, personal and professionalRead MoreConfucius; Then Now973 Words   |  4 Pagesof Chinese political thinkers. His philosophy traveled across the many kingdoms in China, centuries later becoming a part of the foundation of modern Chinese governance. Born after the fall of the Zhou Dynasty, Confucius belonged to the Warring States Era, a time of significant chaos. From the time of his being to modern day, people from China and many other countries in the world have studied the core values of his teachings, all hoping to make such values applicable to their own lives. AlthoughRead MoreWhat Values From Traditional And Progressive Philosophies Complement Each Other868 Words   |  4 Pagesidentifiable philosophies that answer these questions: Traditional, Progressive, Existential and Critical Theory. However, they are often taken to the absolute and extreme. I firmly believe that taking both the main valued approaches from the Traditional and Progressive Philosophies provides strong disciplinary focuses and knowledge integration. The combination of the two philosophies allows for a positive insight to all educational philosophies. Keeping the mind open to these philosophies allow forRead MoreThe Political Economy And Cultural Studies Theories1429 Words   |  6 PagesIntroduction Mass media plays an important role in the society by providing entertainment, information and acting as the government’s overseer. Several scholars have developed philosophies that help people understand how mass media fulfills its roles in the society. For example, Horkheimer and Adorno have constructed theories that explain the functions and impacts of mass media in the society across the globe (Mosco, 2008). The central theme in all mass communication models entails the meaning ofRead MoreMy Personal Philosophy Of Education1335 Words   |  6 Pages I tested into a progressivism teaching style in the â€Å"Finding Your Philosophy of Education Quiz.† While I enjoyed learning about the different philosophies and psychological influences of teaching, I prefer constructivism, social reconstruction, and progressivism due to their student-centered learning, hands-on or project based learning style, while making efforts to improve the world around them. I will be discussi ng why I chose progressivism, social reconstruction, and constructivism as my preferencesRead MorePHL 215 Version 6 Moral Social And Political Philosophy Matrix And Essay Parts 1 2 2 2993 Words   |  4 Pagesï » ¿University of Phoenix Material Moral, Social, and Political Philosophy Matrix and Essay Part 1 Matrix: Analyze moral, social, and political philosophy by completing the following matrix. Provide a definition of the branch of philosophy as given in a philosophical source (the readings, supplemental materials, or outside academic sources) and list a minimum of three historical developments, theories, key contributors, and principal issues. Bullet point answers are acceptable.

Company Indent Significance Environmental †Myassignmenthelp.Com

Question: Discuss About The Company Indent Significance Environmental? Answer: Introduction JB Hi-Fi is the largest retailer for home entertainment that established in Australia. They are the market leader due to the competitive price, big brands and wide range of products like headphones, iPads, wireless speakers, home theatre, mobile phones, laptops and televisions. The company identifies the significance of environmental, social and governance related matters towards the shareholders, customers and suppliers. psychology details related to the company are as follows Industry situation and company plans JB Hi-Fi Limited belongs to the retail industry in Australia and though the retail industry is becoming stronger as compared to the past years. Retailing sector in Australia increased by 3% during 2016 with regard to the current value terms that is the growth line recognized during the period. Though the growth is positive, it is slower as compared to the year 2015 as the country became cautious regarding its discretionary spending owing to the low growth in income (Post Byron, 2015). Wesfarmers was the biggest retailer during 2016 along with it being the leader over all the multiple categories for retailing. Their value growth was mainly driven by strong performance in home related products. Therefore, JB Hi-Fi will continue to have a strong competition with Wesfarmers during the current year as well as in the future years. Further, retail industry in Australia is expected to grow at the value CAGR for 3% at constant rate. This growth will mainly driven by the home entertainment, garden specialist and internet retailing that are expected to grow owing to the increase in demand for new home related products and new technologies adoption. Future plans of the company The solution from JB Hi-Fi is the key driver for their success. They will continue with the plan of aggressive recruitment along with the expansion of the services and products they offer. They are planning to set up the play in the integrating related products and the services towards the education sector, government and business sectors through the JB Hi-Fi solutions arm. Further, it is expected to provide $ 500 million per year with regard to sales through the strategic acquisitions and organic growth (Hunjra Bashir, 2014). Moreover, the company has a plan to expand their store with regard to home branded to 75 from 43 outlets. Each new outlet for JB Hi-Fi store contributes towards the growth of the customer awareness, supplier support and marketing share. As per the CEO, Mr Murray, in association with the ongoing investment towards the store wages, supply chain and staff training put the company in strong position so that they can continue with the expansion. Financial statement analysis Statement of financial performance Determination of gross profit, net income and income from operation Particulars 2013($m) 2014($m) 2015($m) 2016($m) 2017($m) Gross profit 699 739 798 865 1231 Income from operation 178 191 201 221 268 Net income 116 128 137 152 172 Gross profit - It is identified from the above table that the gross profit of the company is in increasing trend and it reached to $ 1,231 million for the year ended 2017 from $ 699 million in the year 2013. Further, with the increase in revenue the company is able to increase its gross profit from sales. Therefore the profitability position of the company seems good. Income from operation - It is identified from the above table that the income from operation of the company is in increasing trend and it reached to $ 268 million for the year ended 2017 from $ 178 million in the year 2013. Further, with the increase in revenue the company is able to increase the income from operation from sales. Therefore, the profitability position of the company seems good. Net income - It is identified from the above table that the net income of the company is in increasing trend and it reached to $ 172 million for the year ended 2017 from $ 116 million in the year 2013. Further, with the increase in income from operation the company is able to increase the net income from sales. Therefore, the profitability position of the company seems good. Trend analysis HORIZONTAL ANALYSIS Particulars 2013($m) 2014($m) 2015($m) 2016($m) 2017($m) 2013 2014 2015 2016 2017 Gross profit 699 739 798 865 1231 100% 106% 114% 124% 176% Income from operation 178 191 201 221 268 100% 107% 113% 124% 151% Net income 116 128 137 152 172 100% 110% 118% 131% 148% Significant accounting policies The financial statement of the company has been prepared in compliance with the IFRS (International financial reporting standard) that is issued by IASB (International Accounting Standards board). Further, the general purpose financial statements are prepared as per the AAS (Australian accounting standards and the interpretations released by AASB (Australian accounting standard board) and Corporation act 2001. Items different from industry norm Though the retail industry in Australia is growing rapidly, the increase in gross margin of the company seems to be unrealistic as the increase from 2016 to 2017 amounted from $ 865 million to $1231 million. Statement of financial position Particulars 2013($m) 2014($m) 2015($m) 2016($m) 2017($m) Total Liabilities 600 565 552 588 1599 Shareholders equity 243 295 343 405 854 Total assets 843 860 895 993 2452 VERTICAL ANALYSIS Particulars 2013($m) 2013($m) 2014($m) 2014($m) 2015($m) 2015($m) 2016($m) 2016($m) 2017($m) 2017($m) Total Liabilities 600 71% 565 66% 552 62% 588 59% 1599 65% Shareholders equity 243 29% 295 34% 343 38% 405 41% 854 35% Total assets 843 100% 860 100% 895 100% 993 100% 2452 100% HORIZONTAL ANALYSIS Particulars 2013($m) 2014($m) 2015($m) 2016($m) 2017($m) 2013 2014 2015 2016 2017 Total Liabilities 600 565 552 588 1599 100% 94% 92% 98% 267% Shareholders equity 243 295 343 405 854 100% 121% 141% 167% 351% Total assets 843 860 895 993 2452 100% 102% 106% 118% 291% Significant accounting policies Property and equipment the impairment loss with regard to the assets is recognised where the varying amount is more than the recoverable amount. Further, the assets is derecognised when it is probable that the there will be no economic benefits that will arise from the asset or the asset is disposed off (Wagner, Block, Miller, Schwens Xi, 2015). Inventories inventories are shown in the balance sheet at the lower among the net realisable value and cost. Determination of net realisable value is depended upon the key assumptions those are required under the management judgement. Receivables the receivables are reviewed on continuous basis. Allowance for the bad debt is is used when it is probable that the amount will not be collected. Further, the amount of the allowance for impairment is the difference between carrying amount of the asset and the amount that is expected to be collected. Goodwill goodwill is measured as the excess of cost of acquisition over its fair value for the companys share of net recognizable asset at the acquisition date Intangibles Other intangible assets like location premiums, rights to share of profit and brand names are measured as they have indefinite asset life. These assets are carried in the balance sheet at the cost reduced by the accumulated losses for impairment (Bailey, Price, Pyman Parker, 2015). Items different from industry norm Though the retail industry in Australia is growing rapidly, the increase in total assets of the company seems to be unrealistic as the increase from 2016 to 2017 amounted from $ 993 million to $2452 million. Statement of cash flows Particulars 2013($m) 2014($m) 2015($m) 2016($m) 2017($m) Operating cash flow 178 191 201 221 268 Net income 116 128 137 152 172 Net income % 65% 67% 68% 69% 64% It can be identified that the net income percentage after deducting the expenses from operating cash flows are in increasing trend. Therefore, it can be said that the profitability position of the company is improving along with the increase in operating cash flow of the company (Graves Shan, 2014). It is recognized that the company is sufficiently expanding though the investing activities and it increased from $38 million in 2013 to $ 886 million in 2017. However, the increase from the year 2016 to 2017 was significant as the increase was from $ 52 million to $ 886 million seems unrealistic. The most important source of financing for the company is through equity as more percentage of finance is raised through equity as compared to raising through debt. During the year ended 30th June 2016, shareholders equity represents the amount of $854 million whereas, the amount of debt amounted to $ 559 million. Item 2013($m) 2014($m) 2015($m) 2016($m) 2017 ($m) Cash 67 43 49 52 73 It can be identified from the above table that there is no specific trend for the cash of the company over the past five years. During 2013, the amount of cash under balance sheet was amounted to $ 67 million and started decreasing and reached to $ 52 million in 2016. However, during 2017 it again increased and reached to $ 73 million. The major points of interest regarding the above findings concerning the cash flow statement is that with regard to investing activities, the increase from the year 2016 to 2017 was significant as the increase was from $ 52 million to $ 886 million seems unrealistic. Further, the net cash provided from financing activities were in negative till the year 2015. However, it went up to $716 million at the closing of the period 30th June 2017. The reason behind this must be found out. Ratio analysis TYPE FORMULA 2013 2014 2015 2016 2017 Industry average liquidity ratio Current ratio Current asset/current liabilities 1.27 1.64 1.62 1.57 1.32 1 long term solvency ratio Debt-Equity ratio Total debt/total equity 0.51 0.21 0.41 0.27 0.65 0.5 profitability ratio Net profit margin Net profit/net sales *100 3.52 3.69 3.74 3.85 3.06 7% cash flow adequacy ratio Cash flow to asset ratio Cash flow from operation/total assets 0.19 0.05 0.20 0.19 0.08 0.20 Market strength ratio Price earnings ratio Price/earning 18.37 12.44 14.30 18.66 15.08 29 Analysis of the ratios From the above table of ratios, it is recognized that the current ratio of the company are moving around 1.27 to 1.64. However, during the year 2014, 2015 and 2016 it is more than 1.50 that indicates that the company may not using their working capital efficiently. Further, there is no specific trend for the solvency ratio. During the year 2013, 2015 and 2017, it was more or less as per the industry average (Bodie, 2013). However, for the year 2014 and 2016 it was significantly low as compared to the industry average. Further, the net profit margin of the company for the last 5 years were significantly lower as compared to the industry average and it was moving around 3% only. The cash flow from operation was as per the industry average only for the year ended 2013, 2015 and 2016. However, for the other years the ratio was significantly low. Moreover, the price earnings ratio of the company almost half for all the years as compared to the industry average. Conclusion It is found from the above analysis that the company is performing steadily. However, the net profit margin of the company of the company for the last 5 years was significantly lower as compared to the industry average of 7% and it was moving around 3% only. Further, the price earnings ratio of the company for all the years under consideration is considerably low as compared to the industry average of 29. Recommendationb As the net profit margin of the company is significantly low as compared to the industry average, the company shall find out the areas of wastages and minimize the expenses as far as possible. Further, the company shall try to create shareholders value through generating income from sales and increasing the shareholders value. As it is identified that the company performance with respect to all aspect are in increasing trend and company is regular in payment of dividend to the shareholders. Though the price earnings ratio is lower as compared to the industry average, it is found that the company is able to provide positive return to the shareholders throughout the period of 5 years that is under consideration. Therefore, it will be a good decision to invest in JB Hi-Fi Limited. Reference Bailey, J., Price, R., Pyman, A., Parker, J. (2015). Union power in retail: contrasting cases in Australia and New Zealand.New Zealand Journal of management Relations (Online),40(1), 1. Bodie, Z. (2013).Investments. McGraw-Hill. Graves, C., Shan, Y. G. (2014). An empirical analysis of the effect of internationalization on the performance of unlisted family and nonfamily firms in Australia.Family Business Review,27(2), 142-160. Hunjra, A. I., Bashir, A. (2014). Comparative Financial Performance Analysis of Conventional and Islamic Banks in Pakistan.Bulletin of Business and Economics (BBE),3(4), 196-206. JB Hi-Fi | JB Hi-Fi - Australia's Largest Home Entertainment Retailer. (2017). Jbhifi.com.au. Retrieved 13 September 2017, from https://www.jbhifi.com.au/ Post, C., Byron, K. (2015). Women on boards and firm financial performance: A meta-analysis.Academy of Management Journal,58(5), 1546-1571. Wagner, D., Block, J. H., Miller, D., Schwens, C., Xi, G. (2015). A meta-analysis of the financial performance of family firms: Another attempt.Journal of Family Business Strategy,6(1), 3-13.

Why People Visit Websites Essay Example

Why People Visit Websites Essay List at least five reasons why people visit Web sites. †¢Learn about products or services that the company offers †¢Buying products or services that the company offers †¢Obtaining information about warranty, service, or repair policies for products purchased †¢Obtaining general company or organization information †¢Obtaining financial information for making an investment in the compnay or organization †¢Identifying the people that manage the organization Obtaining contact information for a person or department in the organization 2. What are the guidelines that must be followed by Web designers when creating a Web site that is intended to meet the specific needs of customers? †¢Design the site around how visitors will navigate the links, not based on companys organization structure †¢Allow visitors to access information quickly Avoid using inflated marketing statements in product or service descriptions †¢Avoid using business jargon and terms the user may not understand †¢Build the site to work for visitors who are using the oldest browser software on the oldest computer connected through the lowest bandwidth connectioneven if this means creating multiple versions of webpages †¢Be consistent in the use of design features Make sure the navigation controls are clearly labeled or otherwise recognizable †¢Test text visually on smaller monitors †¢Check to make sure that color combinations do not impair viewing clarity for color-blind visitors †¢Conduct usability tests by having potential site users navigate through several versions of the site. 3. List five goals that businesses should meet when constructing a Web site, so that it successfully conveys an integrated image and offers information to potential customers. Offer easily accessible information about hte organization †¢Allow visitors to experince the site in different ways / at different levels †¢Provide vistors with a meaningful two-way (interactive) communication link with the organization †¢Sustain visitor attention and encourage return visits †¢Offer easily accessible information about products and services and how to use them 4. An effective site is one that creates an attractive presence that meets the objectives of the business or organization.List at least five common objectives. †¢Attract visitors to the site †¢Make site interesting enough for users to explore †¢Convince users to follow sites links to obtain information †¢Create an impression consis tent with the organizations desired image †¢Build trusting relationship with visitors †¢Reinforce positive images that the visitor may already have had about the organization †¢Encourage visitors to return to the site We will write a custom essay sample on Why People Visit Websites specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Why People Visit Websites specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Why People Visit Websites specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Spanish Verbs Taking Indirect-Object Pronouns

Spanish Verbs Taking Indirect-Object Pronouns Generally, the difference between an  direct object of a verb and an indirect object of a verb is that a direct object is what or whom the verb acts upon, while the indirect object is the beneficiary and/or person that is affected by the verb. Thus in a simple sentence such as Le darà © el libro (I will give him the book), el libro (the book) is the direct object because its the thing being given, and le (him) is the indirect object because it refers to the person receiving the book. However, there are some verbs that use indirect-object pronouns even though those of us who speak English as a first language would probably think of them as using direct-object pronouns. One example would be a translation of the sentence I dont understand him (where him is a direct object) as No le entiendo or No le comprendo (where le is an indirect-object pronoun). (In this case, it is possible to say No lo entiendo or No lo comprendo, but the meaning would be different: I dont understand it.) Gustar and Similar Verbs The most common type of verb using an indirect-object pronoun where it might not seem intuitive to English speakers is a verb such as gustar, which means to please: Le gustaba el libro. The book pleased him/her. (This sentence would often be translated as he/she liked the book.) Although usage can vary with region and individuals, verbs like gustar are often used with the subject following the verb. Here are some examples taken from writings of native speakers: A la actriz le sorprendià ³ que hubiera un Starbucks en Espaà ±a. (The actress was surprised there was a  Starbucks in Spain. Le isnt translated to English here and in some sentences below because in the translation it is represented by the sentences subject.)No le agradà ³ la decisià ³n. (The decision didnt please him/her. He/she didnt like the decision.)A los daneses les encantan las salchichas. (The Danish love sausages.)A los soldados les faltan pelotas de golf. (The soldiers lack golf balls.)A ella no le interesaba la polà ­tica. (Politics didnt interest her. She wasnt interested in politics.)A los internautas les preocupan los virus, la privacidad, y el malware. (Viruses, privacy, and malware worry Internet users.) Verbs of Communication It is common when using verbs of communication - examples include hablar (to speak) and decir (to tell) - to use indirect-object pronouns. The logic behind this is that the speaker is communicating something, and that something is the direct object, and the person spoken to is the recipient. Le hablaron y no sabà ­a nada. (They spoke to him, and he/she didnt know anything.)Vas a ser madre, le dijeron. (Youre going to be a mother, they told her.)Voy a telefonearle de inmediato. (I am going to call him/her immediately.) Other Verbs A dozen or so verbs, several of them involving instruction or understanding, use the indirect object when the object is a person. Les enseà ±aban con un manual donde Tierra del Fuego pertenecà ­a a Chile. (They taught them with a book where Tierra del Fuego belonged to Chile.)No le creo, Sr. Hernndez. (I dont believe you, Mrs. Hernandez. No lo creo would mean I dont understand it.)El primer ministro dice que le inquieta la crisis humanitaria. (The prime minister says the humanitarian crisis worries him.)Hay veces que no le entiendo por su pronunciacià ³n. (There are times I dont understand her because of her pronunciation.) ¿Y si no le obedezco? (And if I dont obey him?) Usage Depending on Verb's Meaning Some verbs use an indirect object when they have certain meanings but a direct object otherwise: Pegar when it means to hit rather than to stick: A à ©l le pegaron con un bate en la cabeza. (They hit him with a bat in the head.)Recordar usually uses when it means to remind rather than to remember: Le recordamos muchas veces. (We remind him often.)Tocar when it means to be someones turn rather than to touch: A Catarina le tocaba. (It was Catarinas turn.)Discutir when it means to answer back rather than to discuss or to debate. El estudiante le discutà ­a de igual a igual. (The student answered him back as one equal to another.)

What is community organizing what do community organzers do Essay

What is community organizing what do community organzers do - Essay Example This was the start of Alinsky’s endeavor into community organizing as we know it today. Later on, he became the catalyst for other community organizations that involved large African-American communities in the ensuing decades. The extent of the people’s participation was greatly exemplified through his initiative which became the guiding rule for community organizing. The term community organizing itself came from the budding growth of social activism which ignited in the United States after the Second World War It consists of a membership organization which usually includes churches, labor unions, individuals and so on. They then as a whole engage in a consensual campaign which aims to promote particular concerns such as that of health, education, environment etc. the triumph of these organizations include proofs that can be seen in federal actions taken towards the implementation of their causes which includes as a great example the Civil Rights Act of 1964 which was a program of the Great Society. This was a feat unto itself which propelled the country into being what it is at the present time in history and how it views its population. Alinsky’s Industrial Areas Foundation (IAS) is among the roster of these early community organizations. His model for community organizing became the basis for alternatives to ease racial tension and consequent riots. Communities took it upon themselves to call IAS and help them with the conflicts that are taking place in their territories. Alinsky was also known for satirically accusing Eastman Kodak of the contribution to race relation in creating the colored film (Sen, p.45). 1. The organizer and community leader’s role is to reflect a distinct organizational model with local volunteer leaders and professional staff. Behind the scenes, the organizer works to recruit, coordinate, take notes, research and ‘buy donuts.’ In its most basic form, the leader builds power to attain his

Business Law (7) Assignment Example | Topics and Well Written Essays - 750 words

Business Law (7) - Assignment Example Likewise, it was also emphasized that â€Å"employees bring a range of career development issues (orientation, outplacement, work, and family) in the workplace† (Mallor, Barnes, Bowers, & Langvardt, 2013, p. 459); as such, career development models would assist in designing policies and programs that were indicated to be instrumental in addressing these issues and at the same time, provide ways and means for professional growth. 2. Why should companies be interested in helping employees plan their careers? What benefit can companies gain? What are the risks? Companies should be interested, be involved and be committed in helping employees plan their careers because the benefits that would be accorded to the employees would reverberate in terms of higher productive and performance that is likewise beneficial to the organization. From among the benefits that the companies gain when they are involved in career planning and development are: ensured continuous supply of talented an d competent employees as exemplified from the positive image that these companies exude; higher employee morale and commitment; maintaining a highly motivated personnel; and effectively using the resources which would be instrumental in achieving organizational goals and sustaining financial success. The risks in assisting employees plan their careers are very minimal, which could include shouldering additional costs for career planning, development and management. 3. What are the 3 components of career motivation? Which is most important and why? Which is least important and why? The three components of career motivation are: career resilience, career insight, and career identity. Accordingly, career resilience is the ability of the personnel to address organizational dilemmas that affect implementation of their responsibilities. Career insight was explained as the ability of the personnel to discern their strengths and weaknesses and to relate these to the goals which they have ea rmarked for their respective careers. Finally, career identity was defined as â€Å"the degree to which employees define their personal values according to their work† (Mallor, Barnes, Bowers, & Langvardt, 2013, p. 448). One firmly believes that the three components are equally important; but if one were to select the most significant, it would be career resilience, or the ability of the employee to cope with the problems and challenges that are being encountered in the work setting because it takes innate skills of introspection and problem-solving to be able to resolve problems and bounce back to the level of performance expected in the organization. On the other hand, from among these components, the least important could be career identity because if the two other components are eminent, ultimately, the employee would eventually perceive personal and professional values (either consciously or subconsciously), as long as the organizational goals are effectively achieved. 4 . What is a psychological contract? How does the psychological

Strategy Assesments Essay Example for Free

Strategy Assesments Essay A company strategy is management`s action plan for running the business and conducting operations. (Thompson et al, 2007, p.3). Strategy is a plan-sort of consciously intended course of action, guidelines (or set of guidelines) to deal with the situation. Mintzberg, (1996). According Sanjiv and Stuart, strategy represents managerial commitment to pursue a particular set of actions in growing the business, attracting and pleasing customers, competing successfully, conducting operations and improving the company`s performance. The concept of strategy has been debating issue on our B301 TGF activity 1. 2 to assess the strategic views of two leaders namely Sanjiv Ahuja and Stuart Grief. Both views involve the specification of long-term goals that add value to the organization and propel it to be able to cope with the changing environment. As a practice, it consists of adopting courses of action and allocating resources in ways necessary for carrying out the overall objectives. (Niekerk, C. 2014) post on TGF recommends that strategy is a common theme that runs through both (Stuart and Sanjiv) is that strategy is important for all employees to have a sense of purpose and direction, thereby buying into the companys goals and contributing to the overall success of the organization Sanjiv and Stuart both acknowledge this potent of strategy in the running of business. However they do differ on the implementation, competitive advantages, sustainability and gaining market position. Van Niekerk, C. (2014) posting touched on both views subscribing to some of Mintzeberg’s 5ps models of strategy. Their differences demonstrate the complexity of strategy, how managements intends to grow the business, how it will build a loyal clientele, outcompete rivals and putting together pieces of crossword puzzle of different business units. In agreement with Jordan, W and Uys, R touching on the strategy flexibility, Stuart and Sanjiv if were to change industries so is there strategy is prone to change to suit the new environment. On the same note Grieshaber, D. (2014) has noted similar argument made by O’Sullivan and Wright (2009) to describe strategy as complex and flexible with no one size fits all definition. Both Sanjiv and Stu art acknowledge that businesses or organizations are compelled to make dramatic changes and improvements not only to compete and prosper but also merely to survive. Thompson et al point out that ‘every company must be willing and ready to modify its strategy in response to changing market conditions, advancing technology, the fresh moves of competitors, shifting buyers needs and preferences and emerging market opportunities. Thus to say a company strategy is always a work in progress. They both emphasize the importance of communication in the implementation of strategy. Sanjiv puts planning at the centre of strategic implementation. Sanjiv’s prescriptive approach regards strategy as a systematized and deterministic process where analysis of business performance leads to the formation of a strategic plan. He argues leaders should be in charge in refining the final objective and plan can be put into action through successive layers of the organization. Sanjiv claims that leaders should set the goals, set the strategy to be very simple and understandable to every member of the organization. In this context Sanjiv elevate leaders into supreme level in the formulation and execution of strategy .He presents strategy as a plan that guides organization. Sanjiv’s stand point on is communicating strategy clearly and succinctly – especially in large organization. Strategy must be brief and clearly stated and reduced on one piece of paper. Sanjiv further illustrate that keeping the goals, the objectives in understanding the strategy has to be an inclusive role to play for everyone in an organization. Changing circumstances and ongoing management efforts to improve the strategy cause a company`s strategy to evolve over time, a condition that makes the task of crafting a strategy a work in progress and not onetime event. Stuart Grief also views strategy as an ongoing process to continuously strive to refine and adjustment on yearly basis in order to keep up with the changing dynamics. Stuart seems owes a lot to the concept of â€Å"Kaizen† principles that states, involves every employee from upper management to the cleaning crew. Everyone is encouraged to come up with small improvement suggestions on a regular basis. Stuart elevates that strategy as dialogue, the open discussion and debates about specific topic makes more people buying into strategy. Strategy should inclusive of everyone in an org anization so as to better understanding and execution. In a B301 course, (2014, p.22) states that a strategy must be stretched to include employees and organizational arrangements, becomes very virtually everything a company does or consist. Stuart describes strategy as something not durable, don’t last forever Stand must be flexible; strategy cannot be rigid and unchanging in their very nature. The process involves constant learning that leads to the development of another strategy. It goes without saying that practice makes perfect, therefore it applies to a continuous refinements of strategy over a period of time. Every leader has plans that allow for flexibility in formations to adapt to reality. And this sums up that it is not leader or strategists who cause changes in the planning and execution but a reality. Conclusion Both Sanjiv Ahuja and Stuart Grief conception of strategy relates to Mintzberg five Ps plan of strategy. Mintzberg strategy views demonstrate that business or organizations are consciously planning course action and using guidelines to deal with present and future situation. PART TWO. CRITICAL ASSESMENT OF 5P`S OF STRATEGIES OF MINTZBERG TO MAHINDRA MAHINDRA CASE STUDY STRATEGIC PLAN Strategy is a plan – sort of consciously intended course of action, a guidelines (or set of guidelines) to deal with a situation. (Mintzberg, H. (1996). By this definition strategies have two essential characteristics: they are made in advance of the actions, to which they apply, and they are developed consciously and purposefully. Mahindra has been at the fore front looking into the future and therefore provides an opportunity to influence the future, or assume a proactive posture. Mahindra strategic plan was to acquire existing firms that have already existing infrastructure and technology in place but need only direction. For example, the purchasing of struggling and western firms allows Mahindra to gain competitive strategies and gaining market share in specific market segment. Western firm can provide better technology as in most cases they incorporate into research and developments departments. The RD strategy would put Mahindra at the same level of technology advancement with western firms. Effective staffing and leadership provides sense of direction and business continuity and this is seen how Mahindra headhunted Paw an Goenka, veteran of Detroit. Detroit used to be the centre and manufacturing hub for automotives in American history before global financial meltdown. The plan is to plug in every expert, ideas and technology into the system and provides standards of accountability for people, programs, and allocated resources. Diversification is seen as better strategic planning for Mahindra as this help them to control profitable niche markets such logistics and moving away from mass market for conventional cars whereby global giant’s car-making ( Chinese Great wall) are posing threats. Porter, (1985, p.376) comments that diversification strategy can seek to extend any types of tangible interrelations offering the greatest impact on competitive advantage. Strategic planning is the key to helping organization collectively and cooperatively to gain control of the future and the destiny of the organization. Mahindra strategic plan for new pipeline designs for local market and rural distribut ion network that will deter rival as competitive advantage. Porter, (1985, p.3) depicts firm grows fundamentally out of value is able to create for its buyers that exceeds the firm`s cost of creating the plan. STRATEGIC PLOY A specific â€Å"maneuver† intended to outwit an opponent or competitor. Here the strategy is the threat, not the expansion itself, and as such is a ply. In all finance-related activity, diversification means to become involved in a range of different activities or assets, with the goal of reducing exposure to any one particular risk. It is summed up by the saying of not putting all your eggs into one basket. In investing, diversification means avoiding the risk that a particular investment going badly will have serious overall consequences. In business, it covers the risk of being too reliant on one particular element of the market. In this case Mahindra Mahindra for example bought ‘Satyam’ an It-service firm that seemed to lower its market stake but in the end boosted the combined value. Sponsoring of American Bull-riding tournaments seems to be another ploy of eliminating potential rivals. On the one hand the sponsorship creates brand awareness, constantly reminding people to buy Mahindra Tractors. Of course, if they ceased sponsoring such activities people would not immediately bull-riding but their sales would decline with time. Humans attention needs to be reminded, in large part due to being constantly exposed to so much information, so if Mahindra stopped being so present, someone would take their place and with time customers would not think of buying Mahindra tractor. Again Mahindra bought Ssangyong, an ailing South Korean firm in order to boost its presence in pickups trucks but face formidable competitors. Buying out an existing company can be a path to independent wealth, create new growth opportunities for Mahindra that seem to constantly looking for margin expansion. But company buyouts are complex and require considerable investment and attention to detail every step of the way. So to sum up, huge global brands remain highly active in strategic ploy in order to maintain their position atop of the competition. Of course Mintzberg refers this, as strategy of conflict to outwit rivals in a competitive or bargaining situation. Suu Tzu, (2010, p. 10-11) narrates similar strategy by analogy of minuteman, when faced the redcoats on the open battlefield of concord in the traditional frontal confrontation of the time, the minuteman lost. Then, the minuteman made a fundamental shift in their battle tactics and fired on redcoats from behind stones fences as they returned to Boston. This shift in tactics initiated a strategic turn in combat, as the new strategy of skirmishing contributed to the success of the American Revolution. STRATEGIC PATTERN But if strategies can be intended (whether as general plans or specific ploys), surely they can also be realized. In other words, Mintzberg defining strategy as a plan is not sufficient; we also need a definition that encompasses the resulting behavior. Thus a third definition is proposed: strategy is a pattern—specifically, a pattern in a stream of actions. By this definition, strategy is consistency in behavior, whether or not intended. Strategies, in other words, form as well as are formulated and so even good ones need not necessarily be conscious and purposeful. For example Mahindra has demonstrated the consistency of avoiding the risk of graft and cronyism as the order of business in India. Some Luck and good judgments on profitable ventures has steered them away from making bad investment such as ‘Ford’ then opted to invest in its own SUV projects which became successful. Relationship between strategy and behavior is an intricate part of strategic pattern at Mahindra, the enthusiasm to be independent without depending on too mu ch debt, the idea is to be creative in managing cost leadership and use of capital efficiently. Cost advantage gives Mahindra to conserve disposable return by consuming only about one-fifth of the group`s underlying cash-flow. This is evident on their high returns and little debt since most Indian conglomerates are often financial quagmires. STRATEGIC POSITION Strategy is a position specifically a means of locating an organization in an environment. By this definition strategy becomes the mediating force, or match, between organization and environment, that is, between the internal and the external context. But strategy as a position can extend beyond competition too, economic and otherwise. In this case study of Mahindra looks set to dominate India`s market for SUV market. Indian SUV market contributes 55% of operating profit and cash-flow. Indeed this is â€Å"niche† market that needs to avoid competition. Like in military and game theories of strategy or better known as head-on competition where position becomes the sight of the battle, it is a matter of sustainability and survival of the fittest and avoids competition at cost. Mahindra affirms its strategic position as the world largest tractor firm by volume (India and Abroad). Mahindra moved in with speed and accuracy at hand of they have managed to be the 5th biggest Indian family group by sales ($16 Billion) and 17th largest Indian firm by market capitalization ($15 Billion). Sun Tzu point out that throughout history, winning generals in battlefield developed disciplines and systems for moving faster than their opponents to occupy the strategic positions. Napoleon`s is one of the famous warrior in this category. STRATEGIC PESPECTIVE Strategy is a perspective its content consisting not just of a chosen position, but of an ingrained way of perceiving the world. Strategy in this respect is to the organization what personality is to the individual. What is of key importance is that strategy is a perspective shared by members of an organization, through their intentions and / or by their actions. In effect, strategy in this context, it is like entering the realm of the collective mind individuals united by common thinking and / or behavior. Mahindra developed the engineering culture that’s suit the Indian market and it’s noted in the case study that rarely will you find Indian manufacturing success – and Mahindra created its home technology can be regarded as shared perspective. CRITICAL ANALYSIS OF MINTZBERG`S FIVE Ps FOR STRATEGY Mintzberg five 5Ps of strategy; plan, ploy, position and perspective are just representative of strategy and does not detail what process to follow. Strategy should consider tactics, and successful tactical implementation requires an appreciation of strategy. The word strategy is widely used in the world of business and uses different meanings for a different purpose. With reference to Mahindra Mahindra case study it does not make sense to applies the theory on each 5P`s of Mintzberg strategy explicitly. It might be understood that all five P`s can make sense together with some underlying internal and external environmental factors that specifically applies the automotive industry. Mintzberg`s paper is data-free and therefore regarded as conceptual, and might not well been defined with supporting empirical base. Mintzberg data follows the analogy of one size fits all and cannot be accepted in empirical study analysis. Strategy as plan needs a well-formulated objectives and purpose, referred to as strategic ambition of the firm. Strategy as ploy needs means of outperforming competition. Strategy as pattern needs to identify what strategic actions have been successful in the past that can be useful and lead to succeed in the future. Strategy as position means to be aware of what the unique sale proposition is and how it compares to competitors in term of positioning and market share. Strategy as perspective needs the development of an organizational culture that can open opportunities to rethink their processes, strategies, and innovative management practices. For instance, Mahindra Mahindra is not at sleep (Case study), is positioning the new SUV models in pipeline and rural distribution network as strategic ploy in its category within the automotive industry. Mahindra Mahindra has used economies of scale, which has allowed them to reduce operating costs (1.9% of its market value) of research and development. CONCLUSION This model has gained adepts including managers prefer Mintzberg’s model to a Porter’s framework for formulation of strategy for its holistic approach as Karl Moore states in his post about whose view of strategy is most relevant today, comparing Porter and Mintzberg. This strategy model allows manager to comprehend a strategy from a wide perspective that involves internal and external analysis and exploit organizations’ core and competencies with the dynamic business environment to achieve superior performance REFERENCES B301 Module course, (2009) â€Å"Making Sense of Strategy: Reading 1 2†. Open University. O’ Sullivan, T and Wright, A. (2009) â€Å"B301 Module Course: Introducing Strategy†. Open University. Thompson Jr, A.A, Strickland, A.J and Gamble, J.E. (2007) â€Å"Crafting and Executing Strategy: The Quest for Competitive Advantage†. 15th Edn. USA. McGraw- Hill Irwin. Michaelson, G.A and Michaelson, S. (2010) â€Å" Tsu Tzu: The Art of War for Managers†. (2nd Edn). Massachusetts. Adams Media. Porter, M. (1985) â€Å"Competitive Advantage: Creating and sustaining superior performance†. New York. Free Press.