Tuesday, November 5, 2019
Pre-College Summer Programs Should You Go
Pre-College Summer Programs Should You Go SAT / ACT Prep Online Guides and Tips If you're contemplating your summer plans, you may want to consider pre-college summer programs. These programs offerhigh school students the opportunity to live and learn on a college campus. In this article, I'll explain the different types of programs and let you know the benefits and drawbacks of attending them. Furthermore, I'll let you know if doing one of these programs can help you get into college. What Is a Pre-College Summer Program? A pre-college summer program offers high school students the opportunity to take classes at a college and experience college life during the summer. Many programs offer a residential and commuter option. Students can stay in dorms with their peers, or they can commute from home if they live close to the college. Typically, these programs range anywhere from one to eight weeks. During these programs, not only are students able to take classes from college professors or visiting scholars, but theyââ¬â¢re also able to listen to lectures from alumni and participate in social activities. Many selective private colleges, including Stanford, Harvard, and Columbia, offer pre-college summer programs for high school students. Some of theseprograms are open enrollment (anyone can attend), and others require admission through an application process. The selective programs typically require teacher recommendations, application essays, and standardized test scores. Check a specific programââ¬â¢s website for its admissions requirements. Possible Benefits of Pre-College Summer Programs Spending part of your summer studying at college or a university may not sounds like the most fun, but it canoffer a number of potential benefits. Prepare for College Life For many students, adjusting to college life can be very difficult. A pre-college summer program enables you to spend time on a college campus and take classes from college professors. These programs can help ease the transition to college life when you go to college. Youââ¬â¢ll be more familiar with the expectations of a college class, and youââ¬â¢ll be more comfortable navigating a college campus. Explore Your Academic Interests Pre-college programs allow you to take classes in subjects youââ¬â¢re interested in, or you can discover new interests. You can take courses in a wide variety of subjects like computer science, theater, economics, and philosophy. Enhance Your College Resume Colleges do like to see that youââ¬â¢re taking advantage of your summers to participate in meaningful activities. By attending a pre-college summer program, you can demonstrate your interest in academics and show that youââ¬â¢re motivated to do more than whatââ¬â¢s required to pursue your academic passions. Exposure to a Specific College If you're strongly considering attending a certain college, going to its summer program can help you figure out if it's the right place for you. You'll get a feel for the campus and its location, and you may get the opportunity to interact with current students and professors. You'll come away with a better sense of whether you can see yourself thriving in that environment. Make New Friends You shouldnââ¬â¢t discount the social benefits of attending these programs. You can meet people from around the world and form meaningful relationships that will last beyond the program. Keep in mind that there are potential costs of attending these programs. Possible Drawbacksof Pre-College Summer Programs Though many students really enjoy attending these programs, there are some issues to consider. Cost Pre-college summer programs are expensive. For example, an 8-credit course at Harvardââ¬â¢s seven-week secondary school summer program costs $5,900 for tuition and $5,400 for housing. That doesnââ¬â¢t even include transportation costs if you donââ¬â¢t live near Harvard. However, Harvard does offer some financial aid that covers partof the tuition forstudents with outstanding academic records who demonstrate financial need. The all-inclusive cost for the three-week Stanford Pre-Collegiate Summer Institutes is $6,300. That includes room and board and transportation between Stanford and San Francisco International Airport. These Programs May Not Help You Get Into College Many college experts believe that going to a pre-college summer program may in fact hurt your chances of getting into a selective college. If you go to a summer program at Brown and you apply to Cornell, Cornell may assume that youââ¬â¢re more interested in Brown. Also, due to the cost of pre-college programs, some admissions counselors believe that these programs are basically summer camp for wealthy students. Many advise students tofind more creative and low-cost ways to explore their passions. For example, you can volunteer to do research with a local college professor or work at an art museum. However, there are summer programs that will undoubtedly impress college admissions officers. Free, highly selective summer programs like Research Science Institute and the Young Engineering and Science Scholars will greatly enhance your college application because they only admit a limited number of exceptional students. Perfect Zero/Flickr Is a Pre-College Summer Program Right for You? I won't advise you whether or not you should do a pre-college summer program. That's your decision. However, if you can afford to attend one of these programs and feel like it would be a good option for you, I recommend tailoring it to your interests. Take courses that are related to your intended college major, or go to a program at a college that you may want to attend. Also, I don't think that doing a costly program will substantially hurt or help your college applications. However, it can be helpful if you excel in the program and get an outstanding recommendation from a professor. Additionally, if the program stimulates an academic interest or prepares you to do well in school, it can indirectly help your chances of gaining admission to the most selective colleges. What Are Some Well-Known Pre-College Summer Programs? If you do decide attending one of these programs is a good choice for you, here are some popularoptions to check out: Duke TIP Duke TIP serves students as young as 4th grade. It's meant to provide opportunities for academically gifted students. We've written articles on Duke TIP 7th grade Talent Search and Duke TIP SAT requirements. Stanford Pre-Collegiate Summer Institutes and High School Summer College These are two different summer programs at Stanford. At the High School Summer College, you can take a quarter of Stanford classes with Stanford students. The Pre-Collegiate Summer Institutes offer a three-week residential program for students to live in Stanford housing and take a class not often given at the high school level. Summer Institute for the Gifted This program is conducted at colleges across the country. It is designed for gifted and talented students from 5-17 years of age. There are residential and commuter programs. Summer@Brown Summer@Brown offers nearly 200 courses that range from 1-4 weeks. They are designed to reflect Brown's liberal arts curriculum, and they're taughtat the level of first-year college courses. To find the right program for you, there are a number of factors to consider: your budget, the length of the program, the available courses and credit options (some programs offer courses for college credit), and the location of the program. If there's a college that really intrigues you, check the school's website to see if it offers a summer program. You can use the Summer Program Finder to identify a program that fits your needs and interests. You can spend your summer at the beach or college. Or both. Recap Pre-college summer programs provide you with an opportunity to experience college life, explore your academic interests, and make friends. Even though these programs can help prepare you for college, just going to one wonââ¬â¢t significantly impact your chances of getting into a selective college. If youââ¬â¢re interested in a pre-college summer program, you can find one at colleges across the country. Youââ¬â¢ll be able to take classes in many subjects that arenââ¬â¢t usually offered at the high school level. What's Next? Find out what you need to get into Ivy League schools and the most selective colleges. Are you still uncertain if a pre-college program is right for you? Get some more ideas onhow you can spend your summer. If you're going into your senior year of high school, maybe your summer plan should include preparing for the SAT/ACT. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:
Saturday, November 2, 2019
Family Strengths Article Example | Topics and Well Written Essays - 750 words
Family Strengths - Article Example It begins by defining what family strengths are, and goes on to discuss the insights from available research relating to what makes for strong families. The findings from the two surveys that were considered reveal an American population where family strength levels are fairly high. The article notes that such a focus on family strengths is necessary to counteract the dearth of knowledge in this area, owing from the traditional focus on family ills in the literature, to the detriment of serious inquiry on how healthy and strong families work. The findings that family strength levels are healthy for the majority of the American population has implications for the kinds of future related research that may yield fruit regarding how family strengths impact the well-being of children and parents (Moore, Chalk, Scarpa and Vandivere, 2002). B. Response The surveys paint a healthy picture with regard to measures of family strengths in majority of American families. Measures of stability and routine, for instance, and the way they relate to the stability of the children and their developmental progress, are instructive, and believable. The article posits that predictability is good for children, in that they are able to function and grow in an environment where predictability and routine contributes to feelings of safety. Where routines are in place for meals and for doing errands are set, for instance, there is an environment where children develop the ability to control themselves, and to produce life outcomes that are positive. The large majority of homes sharing dinner together on a regular basis, and doing routinary tasks at home likewise regularly, contribute to this environment of predictability and stability. The insight here is that the establishment of such an environment coincides with relatively stable economic and social conditions in the general society, something that I can accept as plausible in the time frames considered for the survey. Those were relat ively prosperous and stable years for the US in general (Moore, Chalk, Scarpa and Vandivere, 2002, pp. 2-3). Part 2- Assessment of Family Strengths, Results B. Family Introduction, Description, Reason for Choice The chosen family is African American, with a household salary estimated at about $200,000 a year, with both parents being professionals, and with two children, one a boy aged 15, and another a girl aged 10. The family owns the home they live in, and the children attend private school near their place of residence. The parents work during the day and come home in time for dinner. The parents are also well-educated and are well-traveled. The reason for the choice is that given the healthy outward arrangements of the family, the family and their strength measures can easily validate or invalidate the assertion of the article relating to family strengths and child behavioral and life outcomes vis a vis the relative stability of the family (Moore, Chalk, Scarpa and Vandivere, 20 02, pp. 2-3). C. Survey Identification The chosen survey is the strengths assessment survey, administered to the chosen family member for this exercise, the 15-year old eldest son. This survey was chosen because an assessment of the strengths of the boy would give an indication of the relative family strengths, from the life outcomes of the eldest son at that
Thursday, October 31, 2019
Research Article Critique Essay Example | Topics and Well Written Essays - 2000 words
Research Article Critique - Essay Example e other paper is a quantitative research entitled, ââ¬Å"Dance and Movement Program Improves Quality-of-Life Measures in Breast Cancer Survivors.â⬠The qualitative research discusses the perceptions of incurable cancer patients about the quality of life at the end of life. The quantitative research discusses how dance and movement improves the quality of life of breast cancer survivors. This critique breaks down the different parts of the paper according to the critique guidelines set by Burns and Grove and by other nursing research authorities. It reviews the process of research which includes the problems and purposes, hypothesis, variables, literature review, framework of the study, study design, adequacy of the samples, directness of measurement, measurement of error, level of measurement, reliability and validity, statistical tests, findings, and implications. These elements shall be reviewed in terms of their adequacy, clarity, and completeness in answering the research q uestion posed by the papers. In the qualitative research, the research problem was clearly explained and stated in the introductory paragraph. The researchers explained how the problem came about and why they saw a need for the research to be conducted (Polit & Beck, 1997; Burns & Grove, 2001). The problem chosen is significant to nursing because it provides new ideas on how to care for the incurable cancer patient. The quantitative research also clearly stated the research problem and purpose in the introductory paragraph. After discussing the background of the study, the paper stated clearly the purpose and research problem. The problem is very much significant to nursing practice because it offers interventions on how to improve the quality of life of the cancer patient (Polit & Beck, 1997; Burns & Grove, 2001). In the qualitative research, the research objectives were incorporated in the study background. There was a smooth and easily comprehensible flow of thought from the
Tuesday, October 29, 2019
Kodak Industry Evaluation Essay Example | Topics and Well Written Essays - 2000 words
Kodak Industry Evaluation - Essay Example They should weigh on both sides so that they will win more customers and at the same time making profits and not losses. As the market share of Kodak is higher at 67%, this shows that the demand of the products is also higher. This shows that Kodak should produce more products to meet the rising demand from customers and curb the shortages. To meet this target, Kodak should have qualified staff, reliable source of materials, and source of finance. Kodak will have to recruit more staff so that the existing staff will not work under pressure. In addition, they should organize seminars to train the staff so that they can acquire new skills, which will enable them to fit in the current situation (Greco & Wharton, 2007, p. 166). Having opportunities like promotion, and free training should motivate staff so that they will work hard enabling the industry to meet the target. The staff should be given rewards when they do a commendable job. This will motivate other employees and staff to wor k harder in that they will receive rewards. In doing this, the industry will meet its targets through spending on the rewards. Kodak should establish a reliable source of raw materials for use in the industry. The supply of the materials should be continuous to enhance the continuous manufacture of the films whilst sustaining the customer demand. This will make the customers rely on the industry in that they can get the products when they demand them. In addition, the industry should have enough funds for acquiring the raw materials, training staff, and paying the employees in this process. If there is a shortage in the funds, Kodak can borrow from financial institutions for stable flow of raw materials in the industry. The funds will be used in procurement and... As the report declares Kodak should produce more products to meet the rising demand from customers and curb the shortages. To meet this target, Kodak should have qualified staff, reliable source of materials, and source of finance. Kodak will have to recruit more staff so that the existing staff will not work under pressure. In addition, they should organize seminars to train the staff so that they can acquire new skills, which will enable them to fit in the current situation/ This paper stresses that Kodak should establish a reliable source of raw materials for use in the industry. The supply of the materials should be continuous to enhance the continuous manufacture of the films whilst sustaining the customer demand. This will make the customers rely on the industry in that they can get the products when they demand them. In addition, the industry should have enough funds for acquiring the raw materials, training staff, and paying the employees in this process. If there is a shortage in the funds, Kodak can borrow from financial institutions for stable flow of raw materials in the industry. The funds will be used in procurement and transporting raw materials to the industry and finished goods to the market. After stabilizing this, the customers will get Kodak anytime they demand. Employees and others professionals who may be called in the industry will be paid through the funds acquired from sources like borrowing.
Sunday, October 27, 2019
Review of TQM Concept from Quality Gurus
Review of TQM Concept from Quality Gurus An extensive literature review is done to explain the concept of TQM, which is extracted from four quality gurus namely; Deming, Juran, Crosby, and Ishikawa. Theories of these gurus are very essential in understanding the concept of TQM. Principles and practices of these gurus are explained in following section. 2.5.1 Deming Approach to TQM The main theory of Demings approach is to create an organizational system that wills faster cooperation and learning. This is to facilitate the process of management practices and implementation that leads to the improvement of the organizational process, products, and employee fulfillment, which are all essential to customer satisfaction (as cited in Zhang, 2000). According to Rvans and Dean (2000), Demings philosophy is aimed to improve products and service by reducing the uncertainty and variation in design and manufacturing processes. Researchers explained that high variation will lead to inconsistencies in performance and as a result will represent poor quality. Deming invented the plan, Do, Study, Act (PDSA) cycle or commonly known as Deming cycle to relate the production of a product with the consumers need and to utilize the resources within the organization to fulfill those needs (Goetsch and Davis, 2000). It is a continuous cycle that requires the addition of new knowledge. In addition, Demings 14 points of management also received good reviews from the research society over the years. Ross (1999) indicated that a company must adopt the 14 points of his system at all levels of an organization. In retrospect, Dr.Deming has tailored some of the principles to integrate into the current management style of organizations. Table 2.4 lists out the Demings 14 points of management. Table 2.4: Demings 14 Principle of Management No Principles 1 Create constancy of purpose toward the improvement of products and service in order to become competitive, stay in business, and provide jobs. 2 Adopt the new philosophy. Management must learn that it is a new economic age and awaken to the challenge, learn their responsibilities, and take on leadership for change 3 Stop depending on inspection to achieve quality. Build in quality from start. 4 Start awarding contracts on the basic of low bids. 5 Improve continuously and forever the system of production and service, to improve quality and productivity, and thus constantly reduce costs. 6 Institute training on the job 7 Institute leadership. The purpose of leadership should be to help people and technology work better 8 Drive out fear so that everyone may work effectively. 9 Break down barriers between departments so that people can work as a team. 10 Eliminate slogans, exhortations, and targets for the workforce. They create adversarial relationship. 11 Eliminate quotas and management by objectives. Substitute leadership. 12 Remove barriers that rob employees of their pride of workmanship. 13 Institute a vigorous of education and self improvement. 14 Make the transformation everyones job and put everyone to work on it. Goetsh and Davis, 2000 2.5.2 Juran Approach to TQM Jurans philosophy indicates that Total Quality Management is a system or activity that aims to delight customers, empower employees, increase the level of revenues, and reduce cost (as cited in Zhang, 2000). Demings, alternatively, focuses on the employees pride and their satisfaction. Juran posits that top-down management and technical methods are pertinent to manage organizations (Ross, 1999). Based on a special report published on Business week, an article entitled Dueling Pioneer, suggest that Juran contribution may be better than Demings theory in the long term, primarily owing to the fact that Juran has a broader concept while Deming focuses on statistical process control which is technical-oriented (as cited in Ross, 1999). In this study, Deming believes that customer focus is essential for a companys success and quality is defined as fitness for use. This is comprised of four categories which include quality of design, quality of conformance, availability, and field service. A famous prescription by Juran is quality Trilogy (A registered trademark of Juran Institute). Here, researcher illustrates that quality can be managed through three important processes: Quality Planning, Quality Control, and Quality Improvement. Researcher articulates that problems are traceable in an adequate planning process that will be sent trough a quality control process where a particular problem will be executed. This evidently will lead to the improvement process (Zhang, 2000). Figure 2.1 summarizes the three managerial processes. Figure 2.1: Juran Trilogy Quality Planning Establish quality goals Identify customers needs Develop product features that respond to the quality needs. Develop systems and process that allow organization to produce these features. Deploy the plans to operational levels. Quality Control Evaluate quality performance. Compare performance with goals. Act on the difference between performance and goals. Quality Improvement Develop the infrastructure necessary to make annual quality improvements. Identify specific areas in need of improvement and implement it. Establish a project team with responsibility for completing each improvement project. Provide the resources, motivation, and training needs by the teams to diagnose the causes, stimulate establishment of remedies, and establish controls to hold the gains. Zhang, 2000 2.5.3 Crosby Approach to TQM Crosbys theory is considered as an important theory that contributed to quality management. Researchers theory focuses on (1) Prevention of defect item; (2) Stress on individual conformance; (3) Clear customer focus and education for employee (Kanji, 1990). Crosbys theory also emphasizes on changing the organizational attitudes and behavior towards quality orientation. According to Taylor and Pearson (1994), Crosbys principles comprises of participation of all employees in the organization, stress on individual conformance, requirement and effective changes of corporate culture and motivation. Apart from that, Boaden (1997) also stated four important quality concepts from Crosby: Conformance to requirement is the definition of quality, not elegance. Prevention in the key to quality, not detection and assessment. Performance standard if zero defects. Price of non conformance is the measurement of quality. In addition, Crosby believes that a company would rather spend the lesser on prevention cost than bear the cost of detection and failure. As stipulated by Deming and Juran, Crosby also stressed the importance of quality improvement. Table 2.5 below listed out the Crosbys 14 steps to quality improvement. Table 2.5: Crosbys 14 steps to Quality Improvement Management Commitment Quality Improvement Team Measurement Cost of Quality Quality awareness Correction action Zero Defects plan Quality education Zero defects day Goal setting Error cause removed Recognition Quality councils Repeat Kanji, 1990 2.5.4 Ishikawa Approach to TQM Ishikawa is the quality expert that addressed TQM as TQC which is Total Quality Control. Since the terms management and Control are pronounced as Kanri in Japanese, it implies linguistic ambiguity between Quality Management and Quality Control in the above context (as cited in Boaden, 1997). Ishikawa is a quality tool expert that participated to develop tools such as the (1) Pareto Chart; (2) Cause and Effect Diagram or known as Ishikawa Diadram; (3) Stratification Chart; (4) Scatter Diagram; (5) Check Sheet; (6) Histogram; and (7) Control Chart (Evans and Dean, 2000) Ishikawa also stressed on continuous improvement and customer orientation where organization should keep a track log on what their customer like, their tastes, and applications (Dotchin and Oakland, 1992). As stipulated by Zhang (2000), the six concepts of Ishikawa are described as follows: Company should put quality in the first place, not short term profits. Company should focus on customer, not producer. Company should break down the barrier of sectionalism of customer. Company should use facts and data to make presentation by using statistical tools. Company should apply the cross functional management. 2.5.5 Summary on Quality Gurus Based on the concepts mentioned above, there remains on overarching idea that is shared by all of them, quality improvement. Quality improvement is necessary to lead a company to success. Although all of the experts mentioned above have different views on quality improvement, their intentions are the same. However, their fundamental approaches were slightly different. For instance, the approaches illustrated by Deming and Juran focus on detection and correction while Cosbys theory emphasizes on prevention than detection. All in all, all four theories are widely accepted and are still being used by many organizations. Theories like Demings PDSA Cycle, Juran Trilogy, Crosbys 14 Steps to improvement, and Ishikawas diagrams are still widely used to explain the fundamental concept of TQM. 2.6 Review of Knowledge Sharing Knowledge as a resource of value creation, allows for exceptional marginal rates of productivityà ¢Ã¢â ¬Ã ¦., appreciating value with continuing use and sharing knowledge instead of depreciating value of tangible products or natural resources (As cited in Yang, 2007) As illustrated in the above phrase, knowledge has to be shared in order to maintain and appreciate the value it has to offer as it will depreciate and vanish over time. Knowledge sharing is a process where knowledge and skills are transferred from one individual to another (Lin, 2007). Pangil and Nasurdin (2005) posit that a number of discussions and research about knowledge sharing is studies to comprehend key element in knowledge management. According to Chua, (2003), a well managed company can capture knowledge from a segment of its organization, shared, and utilized in a completely different in its operations. Moreover, Nonaka (1994) stressed that the efficiency of knowledge sharing is based on the willingness of an individual to identify the knowledge he possess to the company and share it when it is required. However, knowledge sharing among companies throughout the world does not seem to be well accepted among employees and organizations. One of the reason has been notified; where knowledge is being codified and expressed, it is easy to leak the important codified knowledge to the outside world and results in damages especially to an organizations competitive advantage, (Michailova and Husted, 2003). In addition, Mivhailova and husted (2003) conducted a research the Russian and Chinese industries and found that the reason employees refuse to share their knowledge are due to (1) cost involved during knowledge sharing; (2) the psychological fear that their personal value will drop after sharing their knowledge; and (3) accepting and respecting a strong hierarchical and former power. Nevertheless, according to Arduchvili et.al (2002) on his empirical research, the trend that employees do not want to share knowledge has nothing to do with selfish attempts but fear of misleading their colleag ues. Despite the minor negative impact of knowledge sharing as above, many researchers have proven that knowledge sharing will bring more benefits than harm (Yang, 2007; Chua, 2003) Effective knowledge sharing among organizational employees is useful to increase the long term sustainable competitive advantage (Lin, 2007; Yang, 2007; Ruhi, 2003) of the company as it encourages creativity and innovation (Hong et.al.2004; Patrick and Dotsika, 2007). This creates a place that generates information for decision making. New knowledge will indirectly form while the old knowledge is shared through discussion, meetings, and informal chats (Fernie et.al.2003). Ruhi(2003) discovered a number of benefit on effective knowledge sharing which includes (1) increase responsiveness to changes in the economic landscape; (2) dynamic creation and application of custom content; and (3) better manage business partner relationships. Additionally, a successful knowledge sharing environment will strategically alter employee attitudes towards promoting willingness and reliability in sharing knowledge among employees (Connelly and Kelloway, 2003). As there are a myriad of benefits in knowl edge sharing, motivational programs should held frequently to encourage employees to share knowledge (Ardichvili et.al 2002) 2.7 Relationship between TQM Practices and Knowledge Sharing 2.7.1 Leadership Leadership in an organization can be defined as the ability of a role player to influence a team of employees to follow his instruction or missions that have been assigned to them in order to achieve the goals or objectives that been preset by the company (Bounds et. al. 1999). In addition, Zhang (2000) and House and Dessler (1974) illustrated leadership to commit the following: Clarification of vision Coaching management Change of participation within company Employee empowerment Planning as well implementation They implementing the organizational change to provide guidance and recognize employees input such as ideas and suggestion as valuable resources. In parallel, a leader should move away from command managing to control oriented I order to make knowledge sharing successful (Macneil, 2004). Knowledge sharing in an organization does not occur automatically. Thus, a leader plays an important role to ensure that it materializes (Ellinger and Bostrom, 1999). As mentioned above, team members are likely to be recognized by leaders due to their contribution and information, and this will indirectly motivate them to share their knowledge with others (Srivastava et.al. 2006). A leader should also empower and encourage employees to participate in the decision making process and organize meetings where team members are free to express their ideas and suggestions (Arnord et.al. 200). Through these avenues, employees will be aware that their knowledge shared is actually significant and indispensable. Moreover, Arnord et.al (2000) emphasized that leaders should always show censer to his or her team members well being. By doing this, a connection of trust is built between the employee and leader so that knowledge sharing will be easier to function. Based on the literature findings abo ve, the following hypothesis has been proposed: Hypothesis 1: Leadership is positively associated with knowledge sharing. 2.7.2 Organizational Culture As Gore Jr. (1999) mentioned in his research study, organizational culture is considered as key that leads to organizational success. It can create competitive advantage for a company by defining the boundaries of organization in a manner which will help in individual interaction such as sharing ideas and suggestion (Kefting and Frost, 1985). Holistically, organizational culture in the context of knowledge sharing can be described as a combination of theory, values, beliefs, ways of thinking, and acting that are shared by all the employees within the organization (Nor, 2005). In addition, researcher illustrate that a successful organizational environment is when the companys values are cultivated and glued into employees beliefs where their behaviors are derived from social pressure but not from formal procedures and policies. Kim and Lee Stipulate (2004). That there are three components in an organizational culture that cannot be neglected to affect knowledge management and his includes vision and goals, trust, and social network. As knowledge sharing is one of the key components is knowledge management, it is assumed that these three components are also significant. Clear organizational visions and goals will definitely help to encourage employees to share knowledge. This is due to the involvement and participation of employees that is essential to achieve the goals and missions of a company (ODell and Grayson, 1998). Alawi et.al (2007) and Von Krogh (1998) however, explained that interpersonal trust or trust between co -workers is very important in organizational cultures that have strong influence over knowledge sharing. Moreover, (Gruenfeld et.al. 1996) stated that the existence of trust among employees is necessary in order to respond openly and share their knowledge. ODell and Grayson (1998) also hi ghlighted that social interaction between individuals or groups ids helpful in knowledge sharing when different kinds of perspective and knowledge will be exchanged and transferred during the interaction. Based on this discussion, organizational culture is linked to with knowledge sharing and a hypothesis is formed. Hypothesis 2: Organizational Culture is positively with knowledge sharing 2.7.3 Teamwork Ideally, a company project would require a team of personnel that work together to accomplish the project goals. Thus, the composition of the team is crucial and leader needs to understand the abilities of each team member (Anderson, 1994). Generally, teamwork is defined as a work or project done by associates, where each member does a part in line with the efforts from subordinated in hierarchical levels (as cited in Macneil, 2003). However, Goh (2002) found that hierarchical levels of teamwork was obsolete and introduced a framework termed as horizontal communication. This goes beyond technology and encourages cress functional teamwork in the organization that will lead to knowledge transfer and exchange. She explained that employees can easily communication using horizontal cross-functional collaboration. Likewise, Lu et. Al. (2006) verified that good teamwork should contribute to knowledge sharing. Although many academicians and researchers elucidate such as the increase in operations productivity (Kirkman and Rosen, 1999), improvement in the level of customer satisfaction (Kirkman and Rosen, 1999), enhancement of jobs satisfaction among employees (Wall et.at. 1986), and development of a better organizational commitment, there is one fundamental benefit of framework that they disregarded, and this is complementary to the team members knowledge (as cited in Zarraga and Bonache, 2003). This can be clarified by analyzing the study of Wright et. Al.(1994) that explains in detail the idiosyncratic knowledge that is relevant to another member of the team and is transferred from an individual to that particular person. When this occurs a synergy is formed and results in a rise of a new knowledge to a higher level called group knowledge where combinations of unique skills of each team member are consolidated towards achieving missions and goals. Nevertheless, the social dilemma theory explains that knowledge sharing might arise from a problem called public- goods dilemma (Cabrera and Cabrera, 2002). Researcher explains that when knowledge is shared by a volunteers contribution to a team, every member in the team will benefit from it, whether they have made a contribution or not. In order to solve this problem, the company should plan rewarding strategy where people who share their knowledge will be rewarded. Therefore, a hypothesis is developed and stated as: Hypothesis 3: Teamwork is positively associated with knowledge sharing. 2.7.4 Training and Development Training and development is the development of new knowledge and skills as result of imparted knowledge (Goetsch and Davis, 2000). In relation to the context of knowledge sharing, Pangil and Nasurdin (2005) explained that training is crucial for knowledge sharing because it generates an opportunity for people gain new knowledge and share that knowledge. The role of training and development is expended to provide an environment that encourages and facilitates employees to share knowledge within the company. As discussed in the previous chapter, trust and motivation are very important in knowledge sharing. Thus, Goh (2002) stated that training in experimentation can help overcome constraints such as lack of increase an employees job satisfaction (Barli et.al. 2005) and organizational commitment (Ahmad and Bakar, 2003). A formal and successful training will encourage employees to share their knowledge (Lamoureux, 2006). Some options for formal and development programs can stem from hiring trainers and facilitators to provide in -house development programs, outstation training for employees, and e-learning courses that are provided by service providers (Lamourex, 2006). Researcher identified that formal training requires the trainee to perform after -action reviews and give suggestion. Thus, they will express, share and improve their knowledge to others during the training period. Apart from that, as the technology used is growing pervasively in todays corporate world, many tools are developed to faster information exchange. In this course, employee training is necessary get themselves familiarized the technological tools. Stoddart (2001) stated that a good internet management practice will improve the usability and knowledge sharing capability among employees. In addition, Curry and Stancich (2000) elucidated that knowledge sharing will only work if the culture of the organization promotes it and re al time applications such as computer conferencing are used. However, the most important element in accruing new knowledge is pointless without training. In short, training aids to ease the process of knowledge sharing. Surprisingly, there have been limited empirical evidences to prove that training can affect employees to share knowledge. With that reason, a hypothesis is formed. Hypothesis 4: Training and Development is positively associated with knowledge sharing. 2.7.5 Reward System It is irrefutable that a proper reward system in an organization is necessary to keep the working environment alive. In general, reward system comes in a monetary from or recognition which is awarded to employees that achieve the goals and mission that has been preset by the company. To elucidate, from a neurobiological perspective, it is a set of structures that can regulate and control behavior by inducing rewards. Pangil and Nasudin (2005), Mc Dermott and ODell (2001), and Sharatt and Usoro (2003) agreed that a companys reward system can effectively motivate people towards knowledge sharing. Knowledge sharing is so important that companies today have included them into performance assessments (McDermott and ODell, 2001). Pangil and Nasudin (2005) describe two purposes of a strategic reward system. Firstly, employee will be rewarded by performing knowledge sharing practices in the organization. Secondly, incentives will be given to those who continue perform desirable practices. Reward system for knowledge sharing can be segmented into: Individual Reward Group Reward Individual rewards are self -achieved where the company will award the individual who puts the most effort to share knowledge. According to Bartol and Srivastava (2002), value pay plans are suggested in individual award system to assess the performance of employees in knowledge sharing. In other words, financial enticement is used to motivate knowledge sharing (Hall, 2001). However, recognition sometimes can be more valuable than monetary rewards. For instance, the recognition of a journalist, researcher, or lecturer is considered as a reward to them after their efforts for publishing and teaching where knowledge sharing has created provocative change in the mindsets of people. Conversely, as discussed in the previous section, reward system is obligatory to ensure that every member in the team contributes to knowledge sharing (Zarraga and Bonache, 2003). Group reward system is slightly different from individual system, where rewards will be given based for group performance (Bartol a nd Srivastava, 2002). They explained that reward for group consist of profit sharing, gain sharing and stock ownership plans. As discussed above, reward system are crucial for practicing knowledge sharing, thus, following hypothesis is formed: Hypothesis 5: Reward System is positively associated with knowledge sharing. 2.7.6 Customer Focus Customer focus can be defines as the degree a company embarks to satisfy the customers needs and expectations in continues manner (Zhang, 2000). From a business perspective, it is a known fact that the customer solely determines the success of a company. To illustrate that notion, general Motors, AT T, and IBM had to reengineer their business function in order to meet the growing needs of their customers (Pinar, et.al. 2007). Thus, customer needs and expectations are considered as the baseline for any kind of business. Liao (2006) explained that sharing information on customer needs among co-workers or leaders could from as a competitive advantage to company. Apart from that, fast learning and knowledge transfer from an individual to another is what an organization must perform in order to maintain the products and services ahead of the needs and expectation of customers (Pfister, 2002) How do we get as many people as possible to create and transfer as much knowledge as possible in the best way possible in order to have a positive impact on our customer. (Buckman, 2004) Buckman in his book Building knowledge Driven Organization cited the above statement and explained that the full involvement, commitment, passion, to share and use the knowledge among employees are essential to satisfy customers (as cited in Buckman, 2004). Furthermore, requirements of customer can be tackled easily when knowledge is shared among team members. For an instance, Fang and Tsai (2005) illustrate and example; the intensive care unit is a place where fast decision making is necessary as patients lives are in danger. In this case, the customers need would be the treatment while the service team which includes surgeons and consulting doctors will share knowledge among themselves to make resourceful decisions to save a patients life. At present, there is a lack empirical research to examine the relationship between customer focus and knowledge sharing. Therefore, the following hypothesis is presented: Hypothesis 6: Customer Focus is positively associated with knowledge sharing. 2.7.7 Research Framework The relationship between the six dimensions of TQM and Knowledge Sharing is shown by Figure 2.2 below. Formulation of this research framework was based on the hypothesis thats discussed above. In this research framework, TQM practices are independent variables and knowledge sharing is a dependent variable. This study will focus on the relationship of each TQM practices to knowledge sharing. Figure 2.3: Research Framework Total Quality Management (TQM) Practices Leadership (H1) Organizational Culture (H2) Teamwork (H3) Training and Development (4) Reward System (5) Customer Focus (6) Knowledge Sharing
Friday, October 25, 2019
Comparing Culture in Adventures of Huckleberry Finn, Pride and Prejudic
Culture in Adventures of Huckleberry Finn, Pride and Prejudice, and Neuromancer America was formed on the basis of culture. Many different cultural backgrounds flocked to this one area and in the process many existing cultures were destroyed, while the new influx of humanity meshed to create an American culture. This constant flow of cultures from all over the world has kept the American culture in a state of flux. Each historical period has presented its classical viewpoint of American culture through the eyes of its most accomplished authors. There are narratives about clashes of cultures, presentations of cultures and even some focused on teaching a culture. The narratives provide a glimpse into an era that may no longer exist. To understand the effect of narrating one must comprehend its make-up. Essentially there is a three-layer distinction in a narrative-- the text, story and fabula. The simplest component of a narrative is the fabula. A fabula can clearly be exemplified by a comic strip in which each box represents a new event in a chronological sequence. Many times a narrative is presented with no obvious order of events. An excellent example of this is Leslie Silko's novel, Ceremony. The main character, or as Mieke Bal describes it in her book Narratology: Introduction to the Theory of Narrative, the actor, narrates his life by jumping from his childhood to the present, back to the past and finally ending in the present. In addition to this, Bal, defines the text of a narrative as "a finite structure . . . composed of language signs" (5). Using this definition, one could again feel free to use a comic strip as an example of a narrative, but in reality a narrative is much more complicated. Using the d istinct stru... ...ader with an opportunity to experience a culture that no longer exists, or is yet to come. A look at the layout of classical narratives from the beginning of America to the present describes and relives the lives of so many individuals. In providing this glimpse into the past or the future, narratives shape the readers perspective of that time period, leaving the reader with a specific viewpoint on the history of American culture. Works Cited Austin, Jane. Pride and Prejudice. New York: Washington Square Press Book, 1960. Bal, Mieke. Narratology: Introduction to the Theory of Narrative. Toronto: University of Toronto Press, 1985. Gibson, William. Neuromancer. New York: Ace Books, 1984. Sawyer, Mark. The Adventures of Huckleberry Finn. New York: Airmont Books, 1962. Silko, Leslie Marmon. Ceremony. New York: Penguin Books, 1977.
Thursday, October 24, 2019
International Monetary System
International monetary systems are sets of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable between buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic actors spread over several decades. Alternatively, they can arise from a single architectural vision as happened at Bretton Woods in 1944. Historical overview Throughout history, precious metals such as gold and silver have been used for trade, termed bullion, and since early history the coins of various issuers ââ¬â generally kingdoms and empires ââ¬â have been traded. The earliest known records of pre ââ¬â coinage use of bullion for monetary exchange are from Mesopotamia and Egypt, dating from the third millennium BC. 1] Its believed that at this time money played a relatively minor role in the ordering of economic life for these regions, compared to barter and centralised redistribution ââ¬â a process where the population surrendered their produce to ruling authorities who then redistrubted it as they saw fit. Coinage is believed to have first developed in China in the late 7th century, and independently at around the same time in Lydia, Asia minor, from where its use spread to near by Greek cities and later to the rest of the world. 1] Sometimes formal monetary systems have been imposed by regional rules. For example scholars have tentatively suggested that the ruler Servius Tullius created a primitive monetary system in the archaic period of what was to become the Roman Republic. Tullius reigned in the sixth century BC ââ¬â several centuries before Rome is believed to have developed a formal coinage system. [2] As with bullion, early use of coinage is believed to have been generally the preserve of the elite. But by about the 4th century they were widely used in Greek cities. Coins were generally supported by the city state authorities, who endeavoured to ensure they retained their values regardless of fluctuations in the availability of whatever base precious metals they were made from. [1] From Greece the use of coins spread slowly westwards throughout Europe, and eastwards to India. Coins were in use in India from about 400BC, initially they played a greater role in religion than trade, but by the 2nd century had become central to commercial transactions. Monetary systems developed in India were so successful they continued to spread through parts of Asia well into the Middle Ages. [1] As multiple coins became common within a region, they have been exchanged by moneychangers, which are the predecessors of today's foreign exchange market. These are famously discussed in the Biblical story of Jesus and the money changers. In Venice and the Italian city states of the early Middle Ages, money changes would often have to struggle to perform calculations involving six or more currencies. This partly let to Fibonacci writing his Liber Abaci where he popularised the use of Arabic numerals which displaced the more difficult roman numerals then in use by western merchants. [3] Historic international currencies. From top left: crystalline gold, a 5th century BCE Persian daric, an 8th century English mancus, and an 18th century Spanish real. When a given nation or empire has achieved regional hegemony, its currency has been a basis for international trade, and hence for a de facto monetary system. In the West ââ¬â Europe and the Middle East ââ¬â an early such coin was the Persian daric, of the Persian empire. This was succeeded by Roman currency of the Roman empire, such as the denarius, then the Gold Dinar of the Muslim empire, and later ââ¬â from the 16th to 20th centuries, during the Age of Imperialism ââ¬â by the currency of European colonial powers: the Spanish dollar, the Dutch Gilder, the French Franc and the British Pound Sterling; at times one currency has been pre-eminent, at times no one dominated. With the growth of American power, the US Dollar became the basis for the international monetary system, formalized in the Bretton Woods agreement that established the post-World War II monetary order, with fixed exchange rates of currencies to the dollar, and convertibility of the dollar into gold. Since the breakdown of the Bretton Woods system, culminating in the Nixon shock of 1971, ending convertibility, the US dollar has remained the de facto basis of the world monetary system, though no longer de jure, with various European currencies and the Japanese Yen being used. Since the formation of the Euro, the Euro has gained use as a reserve currency and a unit of transactions, though the dollar has remained the primary currency. A dominant currency may be used directly or indirectly by other nations ââ¬â for example, English kings minted gold mancus, presumably to function as dinars to exchange with Islamic Spain, and more recently, a number of nations have used the US dollar as their local currency, a custom called dollarization. Until the 19th century, the global monetary system was loosely linked at best, with Europe, the Americas, India and China (among others) having largely separate economies, and hence monetary systems were regional. European colonization of the Americas, starting with the Spanish empire, led to the integration of American and European economies and monetary systems, and European colonization of Asia led to the dominance of European currencies, notably the British pound sterling in the 19th century, succeeded by the US dollar in the 20th century. Some, such as Michael Hudson, foresee the decline of a single basis for the global monetary system, and instead the emergence of regional trade blocs, citing the emergence of the Euro as an example of this phenomenon. See also Global financial systems , world-systems approach and polarity in international relations. It was in the later half of the 19th century that a monetary system with close to universal global participation emerged, based on the gold standard. History of modern global monetary orders The pre WWI financial order: 1870ââ¬â1914à From the 1870s to the outbreak of World War I in 1914, the world benefited from a well integrated financial order, sometimes known as the First age of Globalisation. [4] [5] Money unions were operating which effectively allowed members to accept each others currency as legal tender including the Latin Monetary Union (Belgium, Italy, Switzerland, France) and Scandinavian monetary union (Denmark, Norway and Sweden). In the absence of shared membership of a union, transactions were facilitated by widespread participation in the gold standard, by both independent nations and their colonies. Great Britain was at the time the world's pre-eminent financial, imperial, and industrial power, ruling more of the world and exporting more capital as a percentage of her national income than any other creditor nation has since. [6] While capital controls comparable to the Bretton Woods System were not in place, damaging capital flows were far less common than they were to be in the post 1971 era. In fact Great Britain's capital exports helped to correct global imbalances as they tended to be counter cyclical, rising when Britain's economy went into recession, thus compensating other states for income lost from export of goods. Accordingly, this era saw mostly steady growth and a relatively low level of financial crises. In contrast to the Bretton Woods system, the pre-World War I financial order was not created at a single high level conference; rather it evolved organically in a series of discrete steps. The Gilded Age, a time of especially rapid development in North America, falls into this period. Between the World Wars: 1919ââ¬â1939 The years between the world wars have been described as a period of de-globalisation, as both international trade and capital flows shrank compared to the period before World War I. During World War I countries had abandoned the gold standard and, except for the United States, returned to it only briefly. By the early 30's the prevailing order was essentially a fragmented system of floating exchange rates . [8] In this era, the experience of Great Britain and others was that the gold standard ran counter to the need to retain domestic policy autonomy. To protect their reserves of gold countries would sometimes need to raise interest rates and generally follow a deflationary policy. The greatest need for this could arise in a downturn, just when leaders would have preferred to lower rates to encourage growth. Economist Nicholas Davenport [9] had even argued that the wish to return Britain to the gold standard, ââ¬Å"sprang from a sadistic desire by the Bankers to inflict pain on the British working class. â⬠By the end of World War I, Great Britain was heavily indebted to the United States, allowing the USA to largely displace her as the worlds number one financial power. The United States however was reluctant to assume Great Britain's leadership role, partly due to isolationist influences and a focus on domestic concerns. In contrast to Great Britain in the previous era, capital exports from the US were not counter cyclical. They expanded rapidly with the United States's economic growth in the twenties up to 1928, but then almost completely halted as the US economy began slowing in that year. As the Great Depression intensified in 1930, financial institutions were hit hard along with trade; in 1930 alone 1345 US banks collapsed. During the 1930s the United States raised trade barriers, refused to act as an international lender of last resort, and refused calls to cancel war debts, all of which further aggravated economic hardship for other countries. According to economist John Maynard Keynes another factor contributing to the turbulent economic performance of this era was the insistence of French premier Clemenceau that Germany pay war reparations at too high a level, which Keynes described in his book The Economic Consequences of the Peace. The Bretton Woods Era: 1945ââ¬â1971 British and American policy makers began to plan the post war international monetary system in the early 1940s. The objective was to create an order that combined the benefits of an integrated and relatively liberal international system with the freedom for governments to pursue domestic policies aimed at promoting full employment and social wellbeing . 11] The principal architects of the new system, John Maynard Keynes and Harry Dexter White, created a plan which was endorsed by the 42 countries attending the 1944 Bretton Woods conference. The plan involved nations agreeing to a system of fixed but adjustable exchange rates where the currencies were pegged against the dollar, with the dollar itself convertible into gold. So in effect this was a gold ââ¬â dollar exchange standard. There were a number of improvements on the old gold standard. Two international institutions, the International Monetary Fund (IMF) and the World Bank were created; A key part of their function was to replace private finance as more reliable source of lending for investment projects in developing states. At the time the soon to be defeated powers of Germany and Japan were envisaged as states soon to be in need of such development, and there was a desire from both the US and Britain not to see the defeated powers saddled with punitive sanctions that would inflict lasting pain on future generations. The new exchange rate system allowed countries facing economic hardship to devalue their currencies by up to 10% against the dollar (more if approved by the IMF) ââ¬â thus they would not be forced to undergo deflation to stay in the gold standard. A system of capital controls was introduced to protect countries from the damaging effects of capital flight and to allow countries to pursue independent macro economic policies [12] while still welcoming flows intended for productive investment. Keynes had argued against the dollar having such a central role in the monetary system, and suggested an international currency called Bancor be used instead, but he was overruled by the Americans. Towards the end of the Bretton Woods era, the central role of the dollar became a problem as international demand eventually forced the US to run a persistent trade deficit, which undermined confidence in the dollar. This, together with the emergence of a parallel market for gold where the price soared above the official US mandated price, led to speculators running down the US gold reserves. Even when convertibility was restricted to nations only, some, notably France,[13] continued building up hoards of gold at the expense of the US. Eventually these pressures caused President Nixon to end all convertibility into gold on 15 August 1971. This event marked the effective end of the Bretton Woods systems; attempts were made to find other mechanisms to preserve the fixed exchange rates over the next few years, but they were not successful, resulting in a system of floating exchange rates. 13] The post Bretton Woods system: 1971 ââ¬â present An alternative name for the post Bretton Woods system is the Washington Consensus. While the name was coined in 1989, the associated economic system came into effect years earlier: according to economic historian Lord Skidelsky the Washington Consensus is generally seen as spanning 1980ââ¬â2009 (the latter half of the 1970s being a transitional period). [14] The transition away from Bretton Woods was marked by a switch from a state led to a market led system. 4] The Bretton Wood system is considered by economic historians to have broken down in the 1970s:[14] crucial events being Nixon suspending the dollar's convertibility into gold in 1971, the United states abandonment of Capital Controls in 1974, and Great Britain's ending of capital controls in 1979 which was swiftly copied by most other major economies. In some parts of the developing world, liberalisation brought significant benefits for large sections of the population ââ¬â most prominently with Deng Xiaoping's reforms in China since 1978 and the liberalisation of India after her 1991 crisis. Generally the industrial nations experienced much slower growth and higher unemployment than in the previous era, and according to Professor Gordon Fletcher in retrospect the 1950s and 60s when the Bretton Woods system was operating came to be seen as a golden age. [15] Financial crises have been more intense and have increased in frequency by about 300% ââ¬â with the damaging effects prior to 2008 being chiefly felt in the emerging economies. On the positive side, at least until 2008 investors have frequently achieved very high rates of return, with salaries and bonuses in the financial sector reaching record levels. The ââ¬Å"Revived Bretton Woods systemâ⬠identified in 2003 From 2003, economists such as Michael P. Dooley, Peter M. Garber, and David Folkerts-Landau began writing papers[16] describing the emergence of a new international system involving an interdependency between states with generally high savings in Asia lending and exporting to western states with generally high spending. Similar to the original Bretton Woods, this included Asian currencies being pegged to the dollar, though this time by the unilateral intervention of Asian governments in the currency market to stop their currencies appreciating. The developing world as a whole stopped running current account deficits in 1999 [17] ââ¬â widely seen as a response to unsympathetic treatment following the 1997 Asian Financial Crisis. The most striking example of east-west interdependency is the relationship between China and America, which Niall Ferguson calls Chimerica. From 2004, Dooley et al. began using the term Bretton Woods II to describe this de facto state of affairs, and continue to do so as late as 2009. Others have described this supposed ââ¬Å"Bretton Woods IIâ⬠, sometimes called ââ¬Å"New Bretton Woodsâ⬠,[19] as a ââ¬Å"fictionâ⬠, and called for the elimination of the structural imbalances that underlie it, viz, the chronic US current account deficit. [20] However since at least 2007 those authors have also used the term ââ¬Å"Bretton Woods IIâ⬠to call for a new de jure system: for key international financial institutions like the IMF and World Bank to be revamped to meet the demands of the current age,[21] and between 2008 to mid 2009 the terms Bretton Woods II and New Bretton Woods was increasingly used in the latter sense. By late 2009, with less emphases on structural reform to the international monetary system and more attention being paid to issues such as re-balancing the world economy, Bretton Woods II is again frequently used to refer to the practice some countries have of unilaterally pegging their currencies to the dollar.
Wednesday, October 23, 2019
Bose Destep
External analysis (market for expensive audio equipment) DESTEP analysis Demographic factors As you know the U. S. has been in a recession for the past 4 years now and is still struggling to get fully out of it as we speak. This recession in the U. S. did not only affect the U. S. but made a global impact. During this recession many companies filed for bankruptcy and therefore had to lay off their employees. In other words, there was a major increase of unemployment rate. In the U. S. he unemployment rate jumped from 4. 6% in 2007 to 9. 0% in 2011. Besides the unemployment rate, the salary income is also an important demographic factor. The recession causes the salary income to shrink. All the above indicates that weââ¬â¢re going through hard times right now. This means that we, the people, are not easily going to give out money. Economic factors As stated above by the demographic factors, we are in a global recession. The extent of this global recession differs throughout the wor ld.Itââ¬â¢s logical that in these times there is an increase in the interest rates. This means that loan applications are being granted less often. Another economic factor that should be noted is the tax rates. These 2 before mentioned rates has a major influence on the spending characteristics of consumers. Social / cultural factors Branding plays an important role in the success of a business. During hard times, branding plays even a bigger role than before.The fact that consumers are more hesitant to spend their money means that theyââ¬â¢re not only looking at the functions of products/services but itââ¬â¢s now more important than ever to have a sense of involvement/belonging with this brand. With this being said, people are looking for the ââ¬Å"extra valueâ⬠of a brand. Their asking themselves; ââ¬Å"If I ought to buy this brand and the functions are there, what else does this mean for me? What is the extra value? â⬠. Technological factors Technology plays a big role when manufacturing a product. Are there new aterials that can bring the manufacturing cost down? Are there new ways of increasing the clarity of the sound that is coming out the speaker? The progress of technology is always increasing and businesses can use these technologies to improve their products & services. Wireless systems are a good example of the progress of technology. You can also think about applications, theyââ¬â¢re continuously playing a more important role in the daily lives of us. Applications can be used for numerous things such as controlling a product or online banking. Ecological factorsEnvironmental issues are being taken more seriously than before. We feel the need to contribute to the well being & improving of the environment however we can. More businesses are ââ¬Å"going greenâ⬠meaning theyââ¬â¢re taking environmental issues into consideration when manufacturing products or creating services. This is also playing a more important role each day. ââ¬Å"Going greenâ⬠can also act as an ââ¬Å"extra valueâ⬠that consumers are paying more attention to. Political factors Political factors are not applicable. Figures / charts for audio speakers market
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