Child Labor and Economic Development Essay Example | Topics and Well Written Essays - 2500 words

Child Labor and Economic Development - Essay Example As the paper declares children who were supposed to be inside the classroom learning and preparing themselves to have better tomorrow, or that they are enjoying their natural rights to play with other children or helping family chores at home by their own sense of responsibility and initiative, are now being laden with works which and most of the time beyond their capacity. Their young bodies are not prepared yet for such burden. This essay stresses that the irony is that, we adults or the society in general seems to tolerate this malpractice of child labor. There are even business establishments that deliberately hire young children, sending them to work in factories often with very poorly working conditions. Ventilations are not sufficient giving more hazard to these young laborers. In the third world countries, this is common, and children who are working at their young age are usually considered lucky or privilege since employment is difficult for adults. Thus, when one member of the family gets a job, regardless of age, it is an opportunity. But what does this reflect the society? This paper aims to answer what child labor reflects on economic development. It will also attempt to answer three things: the rise of child labor, the economic consequences of child labor, and, policies that can help put an end to child labor. Professor Glen Perusek reported a case of child labor in the Strait of Malacca which is known as Jermals. This report is one of the extreme cases of child labor that was recorded (Child Labor in the World Economy). "Conditions on the jermals are abysmal. The structures are flexible, to be able to absorb the shock of the sea during storms. Nausea is a common complaint. Not only do children haul in the nets, sort and boil fish, they must also cook their own meals. Children, the report says, "are given little food, of poor quality" and no variety to speak of. Nearly every meal consists of rice with fish. Only once every two months are there fresh vegetables. Children are so desperate for food that they will "submit to (homo)sexual relations with one of the older workers" for extra rations. The working hours leave children chronically short of sleep. "Worse than almost anything else is the misery caused by lack of sleep. Some foremen pour boiling water on children who inadvertently doze at their post or fail to wake promptly when summoned." There are no beds for the children on the Jermals -- this privilege is reserved for the foremen, often the only adults on board. Instead, children sleep on damp board floors or in makeshift shelters on the shanty roof, or on beds of brown paper. Causes of Child Labor Child labor has many causes but the main driving force of child labor is poverty due to unemployment. According to Basu and Tzannatos, "the role of poverty has been the cornerstone of a lot of thinking regarding child labor"(Basu and Tzannatos, p.15). This is best explained through the two crucial assumptions such as the luxury axiom and the substitution axiom wherein child labor is connected with poverty although there are some distinctions between the two as the level of poverty is to be measured. Luxury axiom "asserts that household sends their

Carl Sauer Essay Example | Topics and Well Written Essays - 500 words

Carl Sauer - Essay Example French regional geography is an example of how the various political, cultural, military, historical and economic upheavals of the country are etched on the landscape. Sauer says (Northern Mists) the hundred years war lost ports and ravaged country sides and Napoleon’s wars left bitter memories. Culture and landscape altered after the French revolution. Through colonies, use of tobacco spread and immigration continued unabated. â€Å"Place is crucial to human geographers, therefore, because it is the individuals’ learning context, the arena in which they learn to be humans and then act as such,† Rawling (1996, p.65). Agriculture did not originate in Europe and did not improve much. â€Å"Fields were plowed and planted principally in order to raise grain, which supplied the starch and a good deal of the protein in the diet of the people† Sauer (1981, p. 31). Most grown foods came from colonies. â€Å"Dairying is the foundation of north European husbandry †¦ Fresh and sour milk, curds, butter and cheese provided, together with grain a cheap and sufficiently balanced basic diet,† (ibid, p. 36). There existed a good balance between climate, man, livestock and vegetation. Drwin’s determinism was an immense contribution to cultural geography. Environmental determinism, or Climatic Determinism, indicates physical environment determines culture.

Processes of Mergers and Acquisitions

Processes of Mergers and Acquisitions CHAPTER ONE: INTRODUCTION 1.1 Background Mergers and acquisitions (MAs) have become the dominant mode of growth for firms seeking competitive advantage in an increasingly complex and global business economy (Adler, 1997). According to (Schuler et al, 2003) a merger happens when two companies agree to join their operations together to form a new company in which they participate as equal partners. On the other hand, in an acquisition, one firm buys a controlling or full interest in another firm with the understanding that the buyer will determine how the combined operations will be managed. ultimately, wealth increases for shareholders in the acquiring company. In practice, however, acquisitions often produce disappointing results. An example to illustrate this is a study by Mercer Management Consulting who looked at 150 acquisitions worth more than 500 million dollars. The Mercer study concluded that 50 percent of the acquisitions eroded shareholder value, while another 33 percent created only marginal returns. (Hill, C.W. L, 2007, pg.504).Another study by a stream of empirical researchers examined the post-acquisition performance of companies and has generally failed to find consistent evidence of improvements in shareholder wealth after post acquisition stage. These findings appear to hold both in the short run (Firth 1980; Franks and Harris 1989; Higson and Elliot 1998:16-20) and in the long run (Gregory 1997; Kennedy and Limmak 1996; Sudarsanam and Mahate 2003:13-50).These findings reveal that mergers and acquisitions may not yield successful results relative to th e sought advantages. This is indeed worrying and raises questions about the value creation of mergers and acquisitions. An important factor affecting the performance of mergers and acquisitions is the transfer of knowledge between the two units. Knowledge transfer is critical to the performance of knowledge creation and in leveraging knowledge for greater organisational performance (Von Krough et al., 2000). Therefore, there is a need for efficient knowledge transfer in mergers and acquisitions. In international mergers and acquisitions, two cultures are combined, and also two systems of knowledge and insights are integrated. In order to develop and sustain competitive advantages for the knowledge-intensive firm, strategic management should enable the development and sharing of new knowledge and other resources. It is believed today by numerous researchers and managers that knowledge is one of the strongest sources of sustainable competitive advantage for Multi National Corporations (MNCs). The importance of developing and sharing knowledge in order to stay competitive for the future has been underlined by many. (Grant, 1996). There are two forms of knowledge which are tacit and explicit knowledge. Tacit knowledge is not easily expressible and therefore difficult to communicate to others. Explicit knowledge on the other hand, is formal and systematic so can therefore be easily communicated. (Nonaka and Takeuchi, 1995, pg.98). Tacit knowledge is non-linguistic, as it deals with the processes of the mind that is interested in reasoning and analysis. The data it renders is non-numeric, and is codified as personal or biased. From the above-mentioned definition of tacit knowledge, it can be seen as something that is rooted on experiences, deeply attached or related to emotions, is connected with the ideals, ethics and emotions of the subject. Explicit knowledge on the other hand is being codified when it is interpreted, used, and shared. These forms of knowledge transfer can be affected by various factors which can be catogorised as organisational and individual factors. These can become barriers if not managed properly because they have a significant impact on knowledge transfer. This dissertation would therefore focus on the key organisational factors that affect the transfer of knowledge. The paper will establish the relationship between these factors and knowledge transfer in international mergers and acquisitions. These factors are flexible structures, organisational culture, communication and Information technology. (Ives et al., 2003 and Spender, 1996) 1.2 ?ignifi?ance of the Study Over the last few years there has been an upsurge in interest among scholars on the importance of knowledge management in firms. This is because in successful organizations, their main advantage comes from the knowledge of their employees. In the past mergers and acquisitions were mainly conducted to obtain wealth. However, in recent years multinational corporations (MNCs) emphasize on the knowledge assets that can be gained from mergers and acquisitions. Thus, techniques for archiving, transferring, and increasing knowledge are fundamental factors for the high quality performance of organizations (Maurer, 1999). When companies undertake acquisitions in an international setting the challenge to transfer knowledge becomes more crucial therefore tacit and coded knowledge must be managed and developed in order to obtain an efficient transfer process. This dissertation will therefore examine the organisational factors that influence the transfer of both tacit and explicit knowledge in acquisitions and the role the organisational factors play in the knowledge transfer process. This paper will begin by reviewing relevant literature on knowledge, knowledge management, transfer of knowledge in acquisitions and the organisational factors that influence the process, Chapter 3 will discuss a summary of the methodology. The results of the abovementioned objectives will be presented in Chapter 4 and a critical and analytical discussion of all results is presented in Chapter 5. Conclusions are then made from the analysis and discussion in the previous sections in Chapter 6. To conduct this study, a semi structured interview will be conducted on two financial institutions engaged in an acquisition. The study will identify the key organisational factors that influence the transfer of both tacit and explicit knowledge in the acquisition, the effect of the organisational factors in the transfer process and the factor that has the greatest impact on transfer of knowledge. The focus of the case study will take place in the banking sector .This is because it is part of the global financial sector, which pursues a high level of International mergers and acquisitions.(IMAs). The findings of this study will benefit employees as well by giving light to the actions taken by their respective organizations to aid them cope with the changes brought about by the relationship between knowledge transfer and organisational factors. 1.3 Aims and Objectives The aims and objectives are to answer the main research question and to propose a strategic and effective way of managing the factors that affect transfer of knowledge in order to obtain efficiency. The main research question is : What are the effects of the key organisational factors that influence knowledge transfer in international mergers and acquisitions? Following from the research question, the main objectives will be to establish: Key Organisational factors that influence the transfer of both tacit and explicit knowledge in the acquisition. The effect of the organisational factors in the transfer process. The factor that has the greatest impact on transfer of knowledge ?HA?TER 2: LITERATURE REVIEW To answer the research question this chapter starts with a brief insight into the nature of knowledge, and then proceed to provide a critical review of transfer of knowledge in mergers and acquisitions and then focus on the key organisational factors that affect the transfer of this knowledge. 2.1 The Nature of Knowledge Knowledge can be experience, concepts, values or beliefs that increase an individuals capability to take effective actions (Alavi Leidner 1999).Knowledge can be categorized according to its form and content. With regard to this, a number of typologies have been used, such as embodied versus embedded knowledge (Granovetter, 1985), knowledge as intrinsically versus instrumentally valuable (Degenhardt, 1982), scientific versus practical knowledge (Hayek, 1945), and know-what versus know-how (Gupta and Govindarajan, 2000).ref Knowledge is a fluid mix of framed experience, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information. It originates and is applied in the minds of knowers. In organisations, it often becomes embedded not only in documents or repositories but also in organisational routines, processes, practices, and norms. (Davenport and Prusak, 2000) In the literature on Knowledge Management (KM), there is much debate about what constitutes knowledge, what is data and what is information. Most literature on Knowledge Management classifies knowledge into two main categories: explicit knowledge and tacit knowledge. Explicit knowledge can be defined as things that are clearly stated or defined, while tacit knowledge can be defined as things that are not expressed openly, but implied (Choo 2000, Herschel et al., 2001). This section will make a distinction between the two forms of knowledge tacit and explicit knowledge which was proposed by (Polyani 1962). Explicit knowledge is codifiable and objective and therefore easily transmitted, conceptualized and stored, with little cost. Codes can be differentiated by taking into account the number of elements and combination rules a code consists of, as well as the degree of ambiguity allowed. (Jorna, 2001). (Davenport and ?ru?ak, 1998, pg.41) say: the aim of c?difi?ation is to put organisational knowledge into a form that makes it accessible to those who need it. It literally turns knowledge into code to make it organised, explicit, portable, and as easy to understand as possible. New technologies play an important role in the knowledge codification and make the prospect for those activities increasingly promising. Knowledge managers and users can categorise knowledge, describe it, map and model it, simulate it, and embed it in rules and recipes. Each of these approaches has its own set of values and limitations. Knowledge is being codified when it is interpreted, used, and shared. Codified knowledge comes in the form of organization of thoughts that matter to the individual and can be used for common decisions. Tacit knowledge is converted to explicit or codified knowledge, a form of knowledge that is used by company and/or organisation members. Codified knowledge is essential in the diagnosis, performance, training, and planning of the events in the company or in the life of an individual. Tacit knowledge on the other hand, resides within individuals and is non-codifiable, acquired through experience, personal and subjective. These features make tacit knowledge difficult to formalise and transmit, leading to loss of organisational knowledge. Much of organisational knowledge is tacit (Cook and Yanow, 1993.) This form of knowledge is non-linguistic, as it deals with the processes of the mind that is interested in reasoning and analysis. The data it renders is non-numeric, and is codified as personal or biased. From the above-mentioned definition of tacit knowledge, it can be seen as something that is rooted on experiences, deeply attached or related to emotions, is connected with the ideals, ethics and emotions of the subject. It is this type of knowledge that has strong potential to be a source of competitive advantage, because it is difficult to assess from the outside and not readily available. The focus of this dissertation will be on these two types of knowledge. According to (Nonaka and Takeuchi, 1995), knowledge is created through interactions amongst individuals with different types and contents of knowledge. Through this social conversion process, tacit and explicit knowledge expands in terms of both quality and quantity. (Nonaka, 1990, 1991, 1994: Nonaka and Takeuchi, 1995) .This process goes through four modes of conversion between tacit and explicit knowledge which are Socialization (from tacit to tacit) Externalization (from tacit to explicit). Combination (from explicit to explicit) and finally Internalization (from explicit to tacit). 2.2 Knowledge Management Knowledge management has been an important topic in organizations for years. Companies have hugely emphasized the importance of knowledge as the basis for competitive advantage (Teece, 1998). According to (Zack,1999), there is an obvious difference among knowledge, data and information. Data correspond to observations or facts that are not meaningful. Information results from the placement of data within a meaningful context. Knowledge, on the other hand, is more intricate because it can be both implicit and explicit. Implicit knowledge is understood and applied, and developed from experience. It is shared through interactive conversations and narration of shared experiences. Companies have implemented knowledge management strategies to promote organizational learning. According to (Sarvary,1999), a knowledge management system is the infrastructure necessary for the organization to implement the Knowledge Management process. This comprises IT and organizational communications. Organizational culture, internal governance mechanisms and appropriate incentive schemes are also required. (Zack,1999) stated that effective knowledge creation, sharing, and leveraging requires an organizational climate and reward system that values and encourages cooperation, trust, learning, and innovation and provides incentives for engaging in those knowledge-based roles, activities, and processes. I have consistently observed this aspect to be a major obstacle to effective knowledge management. The success of these strategies is contingent upon the battle between organizational roles and formal and informal structure with socio-cultural factors affecting knowledge management. Culture, power relations, norms, management philosophy, and reward systems are examples. Knowledge management as a task, particularly in project-based international organisations, is an evolution of cognitive processes and social interaction. As knowledge formulation moves through the stages of intuiting, interpreting, integrating, and institutionalizing the tasks become less uncertain and more tangible. A mix of control mechanisms is therefore crucial for effectively managing knowledge capture and transfer within the organization. (Crossan et al., 1999) 2.3 Knowledge Transfer in International Mergers and Acquisitions One of the most prominent contemporary trends in the business of an enterprise is the increasing internationalization of their basic activities. This trend originally started in the most developed countries of the world, where enterprises reached a level of development by economies of scale, as a basic precondition for further progress, which enable enterprises to spread rapidly into international markets. Today however, globalisation can be considered as a precondition for the survival of an organisation notwithstanding the size or the country of origin. Internationalization of business functions began with sales and marketing, continued with production, and today it covers strategic research and development as well (Kolalovic, 2004).Because the prerequisite of an economic development is the openness of the economy, globalisation of businesses has been an economic rule. Local enterprises accepted the importance of mergers and acquisitions as a great help in penetrating the internati onal market and in gaining competitiveness (Hill, 2007). International mergers and acquisitions (IMA) have ballooned in the past two decades and key drivers of this have been globalisation and technological development. These key drivers have brought rise to an easiness of reaching markets, acquiring, managing and monitoring businesses abroad. On a macro level, International mergers and acquisitions (IMAs) can help companies remain competitive, achieve economies of scale and scope and improve positioning in the global environment. On a micro level, gaining valuable tangible and intangible assets can give industry specific competitive advantages; enhance efficiency, market power and growth potential. Notwithstanding, the approach or strategies adopted by managers towards mergers and acquisitions (MAs), they may not yield successful results relative to the sought advantages. The risks associated with cross-border (MAs) are many and can precipitate tremendous failure. Knowledge transfer is one of these risks which will be a focus of this paper. (Galbraith and Stiles, 1984). Knowledge transfer means conveying or moving knowledge from one person or place to another. In the world of business, knowledge management would mean the manner on how we move knowledge from one point of the organisation to another (Rutkowski, 1999). However in international mergers and acquisitions, knowledge would be conveyed from one organisation to another but in a cross cultural context. Knowledge capture and transfer can be regarded as strategic issues. They benefit the organisation as a whole. The process of accumulating and documenting knowledge learned is more tactical because it involves costs attributable to a specific project and managers need to determine which type of knowledge will be useful for the organisation before they are codified. According to (Davenport ,1996) and( Halal ,1996), the most recent and widely used vessel of knowledge transfer is the modern technology. Many companies worldwide use the Web or the internet access as a channel of knowledge sharing in workgroup and company levels. The purpose of the use of modern technology networks is to distribute information and computing resources among employees within the organization, enable the sharing of knowledge and expertise, overcome knowledge transfer barriers, exchange documents, and communicate effectively. According to (Keen, 1997), modern technology in knowledge transfer has reach, range, and ease of use. Reach relates to the people who can access the companys online services and information resources. It can be possible for the organization to gather, transfer or share information from their systems through any computer linked to another computer anywhere across the globe. Range relates to the information and services that can be automatically cross-linked. The World Wide Web is a way of sharing information. Ease of Use pertains to how the system can access and navigate the use of the technologies. Web browsers are good examples of information retrieval systems. In the transfer of knowledge in international mergers and acquisitions, most individuals are reluctant to share and transfer knowledge due to various factors. The announcement of a merger or acquisition creates a highly stressful environment of uncertainty, fear and distrust (Cartwright Cooper, 1992). Even if redundancies are not planned, individuals in both the acquired and the acquiring firms may fear loss of status and changes to their established work norms (Hunt et al, 1987; Schweiger Denise, 1991:49). They may react by resisting senior managements initiatives to encourage co-operation between the combining firms and may ultimately resign (Buono Bowditch, 1989; Levinson, 1970, pg.98). These researched negative reactions are likely to be particularly problematic when knowledge transfer is an explicit merger objective. Knowledge transfer is above all an inter-personal process. Whilst codified knowledge may be shared relatively easily, the experiences and insights required to in terpret and apply this knowledge reside within individuals. Individuals cannot be forced to share this knowledge with others but can only do so willingly. When we specifically consider the international or global transfer of knowledge, then as (Bresman et al,1999,pg.17) have noted, with respect to international acquisitions, the lack of personal relationships, the absence of trust, and cultural distance all conspire to create resistance, frictions, and misunderstandings. This observation is consistent with the conviction that a significant source of dissatisfaction in organizations today is the poor structures and networks for mediating and diffusing knowledge, values and experience within the organisational environment (Claes, 1999,pg.68). Since the competitive advantage of most organisations is their knowledge, individuals from the acquired company in an acquisition refuse to share their knowledge because they might feel the acquirers will eventually find them unimportant and possibly make them redundant. Some also leave and take their knowledge with them to utilise in another company. This is the reason why it is very necessary to identify the factors that influence the transfer of knowledge and improve on these factors to facilitate the process. These factors can be either individual, knowledge based or organisational factors. This dissertation will however, focus specifically on the organisational factors. This is because when they are identified and managed efficiently they help produce a positive transfer of knowledge. 2.4 Organisational Learning (Fisher and White, 2000) defined organisational learning as a reflective process, played out by members at all levels of the organization, which involves the collection of information from both the external and internal environments. This information is filtered through a collective sense-making process, which results in shared interpretations that can be used to instigate actions resulting in enduring changes to the organizations behaviour and theories-in-use.According to Crossan et al. (1999), organizational learning entails a tension between gaining knowledge of new learning or exploration, and using what has been learned or exploitation. This includes individual, group and organizational levels of learning, which are connected by the processes of intuiting, interpreting, integrating, and institutionalizing. 2.5 Organisational factors affecting Knowledge Transfer in Mergers and Acquisitions (Hybels and Weaver, 2007) define communication as any process in which people share information, ideas and feelings. It involves not only the spoken and written word but also the body language, personal mannerisms and anything that adds meaning to the message. Communication can be verbal and non verbal. In mergers and acquisitions, effective communication is very important because it helps coordinates and improves the transfer of knowledge. Communication is a process and consists of various elements which include sending of information, receiving information and feedback. This is in a form of of a basic communication model where the sender encodes the message, uses an appropriate medium to transmit the message and the receiver decodes the message (Hollensen, 2001). Whilst every organization has a unique environment particular key organisational factors such as communication, structure, culture and technology play a crucial role in the overall performance of the organization.(Galbraith, 2002). Therefore, this dissertation will focus on these key factors: Organisational Culture, Flexible structures and support, Information Technology and Communication to determine its effect on knowledge transfer. 2.5.1 Organisational Culture (Schein, 1985) defines organizational culture as a set of implicit assumptions held by members of a group that determines how the group behaves and responds to its environment. It is reflected in the aspects of the organization such as its mission. It is reflected in the way the employees act, what they expect of each other, and how they make sense of each others actions. Most of all, it is deeply rooted in the core values of the organization. According to (Hill C, W, L, 2007) organisational culture comes from several sources. Firstly, influential leaders can have an influence on the culture of the organisation. Secondly, the social culture of a country where the company was founded also influences its corporate culture. The third influence is the history of the company and lastly decisions that yield high performance tend to become embedded in the values of the firm. Many acquisitions fail because of the differences in corporate culture that exist amongst both units. This is because; if the differences are not managed properly they cause a strain on the integration process. An example is the Daimler and Chrysler merger which experienced a clash of corporate culture. Though it is not surprising that the merging of a German company and an American company would present dissimilarity in corporate cultures, there was insufficient support or consideration for these challenges offered to staff. Ideally both Daimler and Chrysler were to benefit equally from each others strengths and capabilities and ultimately increase performance but the cultural clashes significantly affected the corporate structure and success of the merger. (Hill, C.W. L, 2007, pg.505). This caused high management turnover and eventually loss of knowledge and expertise. (Bresman et al.,1999:17) therefore ?trepoe? the importance of cultural compatibility influencing international merger and acquisition success by arguing that the similarities of both parents organisational culture play a critical role in determining the international mergers and acquisitions extent of knowledge acquisition. With the view that cultural compatibility increases the possibility to acquire knowledge and the acquired knowledge then contributes to form new corporate cultures. (De long and Fahey, 2000) identified four ways in which culture influences knowledge transfer. Firstly, culture shapes assumptions about what knowledge is and what type of knowledge is worth managing. Secondly, culture defines the relationships between individual and organisational learning by determining who can control a specific type of knowledge. Thirdly, culture creates the context for social interaction that determines how knowledge will be used in a particular situation. Lastly, culture shapes the processes by which new knowledge is created legitimated and distributed in an organisation. For (M?rpoini,2004) the high failure rates of acquisitions observed over a long period of time by researchers are often due to company manager systematically overlooking the major cultural and organisational complexities involved in integrating the merging firms operations and informal networks. As the increasing number of ?rpo?-border acquisitions brought public attention to the ?la?he? of management styles and ?hilpopohie?, many poh?lar? tried to test whether organisations pould dipolay a higher level of cultural pom?atibility for a ?upoepoful acquisitions. Many thought companies with compatible cultures would be less problematic to acquire and generate value but a research by (Schoenberg, 2000) found out that the impact of cultural compatibility on acquisition performance is revolving around the form of post acquisition integration and the relative attractiveness of the acquirers culture. When knowledge is deeply embedded in a unique culture and organisational setting, transfer of knowledge becomes very difficult and costly. Researchers have argued that a major determinant of how much knowledge a company gains from a merger or an acquisition is its ability to learn from each other. (Hamel et al, 2002,). An example is the merger between General motors (GM) and Toyota in 1985 to build the Chevrolet. Toyota achieved its objectives from the merger and transferred all the knowledge to General Motors which was never put to good use. GM focused on the explicit knowledge forgetting that the tacit knowledge was embedded in the organisation. They should have worked together as a team to transfer both types of knowledge throughout the organisation. We can therefore say that to maximize the transfer of knowledge in a merger or acquisition both units need to adopt a common knowledge sharing culture across every part of the organisation. A shared culture may help informal integrating mechanisms such as knowledge networks to operate more efficiently. As such, a common culture may be of greater value in a multinational that is pursuing a strategy that requires cooperation and coordination between globally dispersed subsidiaries. (Hill, C.W. L, 2007, pp.472-474). Organisational culture can also be maintained by effective communication, organisational culture training as part of the due diligence process, maintaining trust from the pre acquisition stage and then finally staff must be trained on the core values of both units. According to (Baker and English, 2006), aspects of the business culture that can carefully be managed and improve knowledge transfer within the organization, is the use of a common business language and codes, the creation of a shared vision, and the construction of a common company culture that promotes knowledge transfer .Human due diligence should take place more openly and managers must make use of cultural assessment tools like employee surveys and face-to-face interviews. It is therefore useful to let the managers from both companies jointly review this data and agree on the cultural elements for the new company (Harding and Rouse, 2007). Managers must also be aware that basic approaches, values, and philosophies about employment regulation vary widely from country to country around the world. 2.5.2 Communication (Hybels and Weaver, 2007) define communication as any process in which people share information, ideas and feelings. It involves not only the spoken and written word but also the body language, personal mannerisms and anything that adds meaning to the message. Communication can be verbal and non verbal. In mergers and acquisitions, effective communication is very important because it helps coordinates and improves the transfer of knowledge. Communication is a process and consists of various elements which include sending of information, receiving information and feedback. This is in a form of of a basic communication model where the sender encodes the message, uses an appropriate medium to transmit the message and the receiver decodes the message (Hollensen, 2001). The positive outcome of the transfer of knowledge depends on an effective communication process which begins with the sender sharing the information, structuring the message in such a way that the receiver understands, selecting the appropriate method to convey the message to the recipient and then once an appropriate channel is selected and used, the receiver receives the message. Here he/she must decode the message. Meaning is attached to the various symbols and the channel used by the sender and now the receiver must interpret the message. This interpretation involves gaining an understanding from the message and is influenced by the receivers personal experiences, relationship with the sender, knowledge, perceptions and culture. Feedback is the final step in the communication process. Feedback is the response the receiver sends to the sender. In feedback the receiver conceives, encodes and selects the channel just like the original sender did. The original sender then becomes the receiver since he decodes, interprets and responds (feedback) to the response (feedback) the original receiver sent.However, this communication process is subject to many influences that determine its successful transfer. (Welch, D Welch, L, 2007). There are different ways of communicating tacit and coded knowledge. These are face to face and electronic communication. Face to face tends to be the most influential medium of communicating. This Processes of Mergers and Acquisitions Processes of Mergers and Acquisitions CHAPTER ONE: INTRODUCTION 1.1 Background Mergers and acquisitions (MAs) have become the dominant mode of growth for firms seeking competitive advantage in an increasingly complex and global business economy (Adler, 1997). According to (Schuler et al, 2003) a merger happens when two companies agree to join their operations together to form a new company in which they participate as equal partners. On the other hand, in an acquisition, one firm buys a controlling or full interest in another firm with the understanding that the buyer will determine how the combined operations will be managed. ultimately, wealth increases for shareholders in the acquiring company. In practice, however, acquisitions often produce disappointing results. An example to illustrate this is a study by Mercer Management Consulting who looked at 150 acquisitions worth more than 500 million dollars. The Mercer study concluded that 50 percent of the acquisitions eroded shareholder value, while another 33 percent created only marginal returns. (Hill, C.W. L, 2007, pg.504).Another study by a stream of empirical researchers examined the post-acquisition performance of companies and has generally failed to find consistent evidence of improvements in shareholder wealth after post acquisition stage. These findings appear to hold both in the short run (Firth 1980; Franks and Harris 1989; Higson and Elliot 1998:16-20) and in the long run (Gregory 1997; Kennedy and Limmak 1996; Sudarsanam and Mahate 2003:13-50).These findings reveal that mergers and acquisitions may not yield successful results relative to th e sought advantages. This is indeed worrying and raises questions about the value creation of mergers and acquisitions. An important factor affecting the performance of mergers and acquisitions is the transfer of knowledge between the two units. Knowledge transfer is critical to the performance of knowledge creation and in leveraging knowledge for greater organisational performance (Von Krough et al., 2000). Therefore, there is a need for efficient knowledge transfer in mergers and acquisitions. In international mergers and acquisitions, two cultures are combined, and also two systems of knowledge and insights are integrated. In order to develop and sustain competitive advantages for the knowledge-intensive firm, strategic management should enable the development and sharing of new knowledge and other resources. It is believed today by numerous researchers and managers that knowledge is one of the strongest sources of sustainable competitive advantage for Multi National Corporations (MNCs). The importance of developing and sharing knowledge in order to stay competitive for the future has been underlined by many. (Grant, 1996). There are two forms of knowledge which are tacit and explicit knowledge. Tacit knowledge is not easily expressible and therefore difficult to communicate to others. Explicit knowledge on the other hand, is formal and systematic so can therefore be easily communicated. (Nonaka and Takeuchi, 1995, pg.98). Tacit knowledge is non-linguistic, as it deals with the processes of the mind that is interested in reasoning and analysis. The data it renders is non-numeric, and is codified as personal or biased. From the above-mentioned definition of tacit knowledge, it can be seen as something that is rooted on experiences, deeply attached or related to emotions, is connected with the ideals, ethics and emotions of the subject. Explicit knowledge on the other hand is being codified when it is interpreted, used, and shared. These forms of knowledge transfer can be affected by various factors which can be catogorised as organisational and individual factors. These can become barriers if not managed properly because they have a significant impact on knowledge transfer. This dissertation would therefore focus on the key organisational factors that affect the transfer of knowledge. The paper will establish the relationship between these factors and knowledge transfer in international mergers and acquisitions. These factors are flexible structures, organisational culture, communication and Information technology. (Ives et al., 2003 and Spender, 1996) 1.2 ?ignifi?ance of the Study Over the last few years there has been an upsurge in interest among scholars on the importance of knowledge management in firms. This is because in successful organizations, their main advantage comes from the knowledge of their employees. In the past mergers and acquisitions were mainly conducted to obtain wealth. However, in recent years multinational corporations (MNCs) emphasize on the knowledge assets that can be gained from mergers and acquisitions. Thus, techniques for archiving, transferring, and increasing knowledge are fundamental factors for the high quality performance of organizations (Maurer, 1999). When companies undertake acquisitions in an international setting the challenge to transfer knowledge becomes more crucial therefore tacit and coded knowledge must be managed and developed in order to obtain an efficient transfer process. This dissertation will therefore examine the organisational factors that influence the transfer of both tacit and explicit knowledge in acquisitions and the role the organisational factors play in the knowledge transfer process. This paper will begin by reviewing relevant literature on knowledge, knowledge management, transfer of knowledge in acquisitions and the organisational factors that influence the process, Chapter 3 will discuss a summary of the methodology. The results of the abovementioned objectives will be presented in Chapter 4 and a critical and analytical discussion of all results is presented in Chapter 5. Conclusions are then made from the analysis and discussion in the previous sections in Chapter 6. To conduct this study, a semi structured interview will be conducted on two financial institutions engaged in an acquisition. The study will identify the key organisational factors that influence the transfer of both tacit and explicit knowledge in the acquisition, the effect of the organisational factors in the transfer process and the factor that has the greatest impact on transfer of knowledge. The focus of the case study will take place in the banking sector .This is because it is part of the global financial sector, which pursues a high level of International mergers and acquisitions.(IMAs). The findings of this study will benefit employees as well by giving light to the actions taken by their respective organizations to aid them cope with the changes brought about by the relationship between knowledge transfer and organisational factors. 1.3 Aims and Objectives The aims and objectives are to answer the main research question and to propose a strategic and effective way of managing the factors that affect transfer of knowledge in order to obtain efficiency. The main research question is : What are the effects of the key organisational factors that influence knowledge transfer in international mergers and acquisitions? Following from the research question, the main objectives will be to establish: Key Organisational factors that influence the transfer of both tacit and explicit knowledge in the acquisition. The effect of the organisational factors in the transfer process. The factor that has the greatest impact on transfer of knowledge ?HA?TER 2: LITERATURE REVIEW To answer the research question this chapter starts with a brief insight into the nature of knowledge, and then proceed to provide a critical review of transfer of knowledge in mergers and acquisitions and then focus on the key organisational factors that affect the transfer of this knowledge. 2.1 The Nature of Knowledge Knowledge can be experience, concepts, values or beliefs that increase an individuals capability to take effective actions (Alavi Leidner 1999).Knowledge can be categorized according to its form and content. With regard to this, a number of typologies have been used, such as embodied versus embedded knowledge (Granovetter, 1985), knowledge as intrinsically versus instrumentally valuable (Degenhardt, 1982), scientific versus practical knowledge (Hayek, 1945), and know-what versus know-how (Gupta and Govindarajan, 2000).ref Knowledge is a fluid mix of framed experience, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information. It originates and is applied in the minds of knowers. In organisations, it often becomes embedded not only in documents or repositories but also in organisational routines, processes, practices, and norms. (Davenport and Prusak, 2000) In the literature on Knowledge Management (KM), there is much debate about what constitutes knowledge, what is data and what is information. Most literature on Knowledge Management classifies knowledge into two main categories: explicit knowledge and tacit knowledge. Explicit knowledge can be defined as things that are clearly stated or defined, while tacit knowledge can be defined as things that are not expressed openly, but implied (Choo 2000, Herschel et al., 2001). This section will make a distinction between the two forms of knowledge tacit and explicit knowledge which was proposed by (Polyani 1962). Explicit knowledge is codifiable and objective and therefore easily transmitted, conceptualized and stored, with little cost. Codes can be differentiated by taking into account the number of elements and combination rules a code consists of, as well as the degree of ambiguity allowed. (Jorna, 2001). (Davenport and ?ru?ak, 1998, pg.41) say: the aim of c?difi?ation is to put organisational knowledge into a form that makes it accessible to those who need it. It literally turns knowledge into code to make it organised, explicit, portable, and as easy to understand as possible. New technologies play an important role in the knowledge codification and make the prospect for those activities increasingly promising. Knowledge managers and users can categorise knowledge, describe it, map and model it, simulate it, and embed it in rules and recipes. Each of these approaches has its own set of values and limitations. Knowledge is being codified when it is interpreted, used, and shared. Codified knowledge comes in the form of organization of thoughts that matter to the individual and can be used for common decisions. Tacit knowledge is converted to explicit or codified knowledge, a form of knowledge that is used by company and/or organisation members. Codified knowledge is essential in the diagnosis, performance, training, and planning of the events in the company or in the life of an individual. Tacit knowledge on the other hand, resides within individuals and is non-codifiable, acquired through experience, personal and subjective. These features make tacit knowledge difficult to formalise and transmit, leading to loss of organisational knowledge. Much of organisational knowledge is tacit (Cook and Yanow, 1993.) This form of knowledge is non-linguistic, as it deals with the processes of the mind that is interested in reasoning and analysis. The data it renders is non-numeric, and is codified as personal or biased. From the above-mentioned definition of tacit knowledge, it can be seen as something that is rooted on experiences, deeply attached or related to emotions, is connected with the ideals, ethics and emotions of the subject. It is this type of knowledge that has strong potential to be a source of competitive advantage, because it is difficult to assess from the outside and not readily available. The focus of this dissertation will be on these two types of knowledge. According to (Nonaka and Takeuchi, 1995), knowledge is created through interactions amongst individuals with different types and contents of knowledge. Through this social conversion process, tacit and explicit knowledge expands in terms of both quality and quantity. (Nonaka, 1990, 1991, 1994: Nonaka and Takeuchi, 1995) .This process goes through four modes of conversion between tacit and explicit knowledge which are Socialization (from tacit to tacit) Externalization (from tacit to explicit). Combination (from explicit to explicit) and finally Internalization (from explicit to tacit). 2.2 Knowledge Management Knowledge management has been an important topic in organizations for years. Companies have hugely emphasized the importance of knowledge as the basis for competitive advantage (Teece, 1998). According to (Zack,1999), there is an obvious difference among knowledge, data and information. Data correspond to observations or facts that are not meaningful. Information results from the placement of data within a meaningful context. Knowledge, on the other hand, is more intricate because it can be both implicit and explicit. Implicit knowledge is understood and applied, and developed from experience. It is shared through interactive conversations and narration of shared experiences. Companies have implemented knowledge management strategies to promote organizational learning. According to (Sarvary,1999), a knowledge management system is the infrastructure necessary for the organization to implement the Knowledge Management process. This comprises IT and organizational communications. Organizational culture, internal governance mechanisms and appropriate incentive schemes are also required. (Zack,1999) stated that effective knowledge creation, sharing, and leveraging requires an organizational climate and reward system that values and encourages cooperation, trust, learning, and innovation and provides incentives for engaging in those knowledge-based roles, activities, and processes. I have consistently observed this aspect to be a major obstacle to effective knowledge management. The success of these strategies is contingent upon the battle between organizational roles and formal and informal structure with socio-cultural factors affecting knowledge management. Culture, power relations, norms, management philosophy, and reward systems are examples. Knowledge management as a task, particularly in project-based international organisations, is an evolution of cognitive processes and social interaction. As knowledge formulation moves through the stages of intuiting, interpreting, integrating, and institutionalizing the tasks become less uncertain and more tangible. A mix of control mechanisms is therefore crucial for effectively managing knowledge capture and transfer within the organization. (Crossan et al., 1999) 2.3 Knowledge Transfer in International Mergers and Acquisitions One of the most prominent contemporary trends in the business of an enterprise is the increasing internationalization of their basic activities. This trend originally started in the most developed countries of the world, where enterprises reached a level of development by economies of scale, as a basic precondition for further progress, which enable enterprises to spread rapidly into international markets. Today however, globalisation can be considered as a precondition for the survival of an organisation notwithstanding the size or the country of origin. Internationalization of business functions began with sales and marketing, continued with production, and today it covers strategic research and development as well (Kolalovic, 2004).Because the prerequisite of an economic development is the openness of the economy, globalisation of businesses has been an economic rule. Local enterprises accepted the importance of mergers and acquisitions as a great help in penetrating the internati onal market and in gaining competitiveness (Hill, 2007). International mergers and acquisitions (IMA) have ballooned in the past two decades and key drivers of this have been globalisation and technological development. These key drivers have brought rise to an easiness of reaching markets, acquiring, managing and monitoring businesses abroad. On a macro level, International mergers and acquisitions (IMAs) can help companies remain competitive, achieve economies of scale and scope and improve positioning in the global environment. On a micro level, gaining valuable tangible and intangible assets can give industry specific competitive advantages; enhance efficiency, market power and growth potential. Notwithstanding, the approach or strategies adopted by managers towards mergers and acquisitions (MAs), they may not yield successful results relative to the sought advantages. The risks associated with cross-border (MAs) are many and can precipitate tremendous failure. Knowledge transfer is one of these risks which will be a focus of this paper. (Galbraith and Stiles, 1984). Knowledge transfer means conveying or moving knowledge from one person or place to another. In the world of business, knowledge management would mean the manner on how we move knowledge from one point of the organisation to another (Rutkowski, 1999). However in international mergers and acquisitions, knowledge would be conveyed from one organisation to another but in a cross cultural context. Knowledge capture and transfer can be regarded as strategic issues. They benefit the organisation as a whole. The process of accumulating and documenting knowledge learned is more tactical because it involves costs attributable to a specific project and managers need to determine which type of knowledge will be useful for the organisation before they are codified. According to (Davenport ,1996) and( Halal ,1996), the most recent and widely used vessel of knowledge transfer is the modern technology. Many companies worldwide use the Web or the internet access as a channel of knowledge sharing in workgroup and company levels. The purpose of the use of modern technology networks is to distribute information and computing resources among employees within the organization, enable the sharing of knowledge and expertise, overcome knowledge transfer barriers, exchange documents, and communicate effectively. According to (Keen, 1997), modern technology in knowledge transfer has reach, range, and ease of use. Reach relates to the people who can access the companys online services and information resources. It can be possible for the organization to gather, transfer or share information from their systems through any computer linked to another computer anywhere across the globe. Range relates to the information and services that can be automatically cross-linked. The World Wide Web is a way of sharing information. Ease of Use pertains to how the system can access and navigate the use of the technologies. Web browsers are good examples of information retrieval systems. In the transfer of knowledge in international mergers and acquisitions, most individuals are reluctant to share and transfer knowledge due to various factors. The announcement of a merger or acquisition creates a highly stressful environment of uncertainty, fear and distrust (Cartwright Cooper, 1992). Even if redundancies are not planned, individuals in both the acquired and the acquiring firms may fear loss of status and changes to their established work norms (Hunt et al, 1987; Schweiger Denise, 1991:49). They may react by resisting senior managements initiatives to encourage co-operation between the combining firms and may ultimately resign (Buono Bowditch, 1989; Levinson, 1970, pg.98). These researched negative reactions are likely to be particularly problematic when knowledge transfer is an explicit merger objective. Knowledge transfer is above all an inter-personal process. Whilst codified knowledge may be shared relatively easily, the experiences and insights required to in terpret and apply this knowledge reside within individuals. Individuals cannot be forced to share this knowledge with others but can only do so willingly. When we specifically consider the international or global transfer of knowledge, then as (Bresman et al,1999,pg.17) have noted, with respect to international acquisitions, the lack of personal relationships, the absence of trust, and cultural distance all conspire to create resistance, frictions, and misunderstandings. This observation is consistent with the conviction that a significant source of dissatisfaction in organizations today is the poor structures and networks for mediating and diffusing knowledge, values and experience within the organisational environment (Claes, 1999,pg.68). Since the competitive advantage of most organisations is their knowledge, individuals from the acquired company in an acquisition refuse to share their knowledge because they might feel the acquirers will eventually find them unimportant and possibly make them redundant. Some also leave and take their knowledge with them to utilise in another company. This is the reason why it is very necessary to identify the factors that influence the transfer of knowledge and improve on these factors to facilitate the process. These factors can be either individual, knowledge based or organisational factors. This dissertation will however, focus specifically on the organisational factors. This is because when they are identified and managed efficiently they help produce a positive transfer of knowledge. 2.4 Organisational Learning (Fisher and White, 2000) defined organisational learning as a reflective process, played out by members at all levels of the organization, which involves the collection of information from both the external and internal environments. This information is filtered through a collective sense-making process, which results in shared interpretations that can be used to instigate actions resulting in enduring changes to the organizations behaviour and theories-in-use.According to Crossan et al. (1999), organizational learning entails a tension between gaining knowledge of new learning or exploration, and using what has been learned or exploitation. This includes individual, group and organizational levels of learning, which are connected by the processes of intuiting, interpreting, integrating, and institutionalizing. 2.5 Organisational factors affecting Knowledge Transfer in Mergers and Acquisitions (Hybels and Weaver, 2007) define communication as any process in which people share information, ideas and feelings. It involves not only the spoken and written word but also the body language, personal mannerisms and anything that adds meaning to the message. Communication can be verbal and non verbal. In mergers and acquisitions, effective communication is very important because it helps coordinates and improves the transfer of knowledge. Communication is a process and consists of various elements which include sending of information, receiving information and feedback. This is in a form of of a basic communication model where the sender encodes the message, uses an appropriate medium to transmit the message and the receiver decodes the message (Hollensen, 2001). Whilst every organization has a unique environment particular key organisational factors such as communication, structure, culture and technology play a crucial role in the overall performance of the organization.(Galbraith, 2002). Therefore, this dissertation will focus on these key factors: Organisational Culture, Flexible structures and support, Information Technology and Communication to determine its effect on knowledge transfer. 2.5.1 Organisational Culture (Schein, 1985) defines organizational culture as a set of implicit assumptions held by members of a group that determines how the group behaves and responds to its environment. It is reflected in the aspects of the organization such as its mission. It is reflected in the way the employees act, what they expect of each other, and how they make sense of each others actions. Most of all, it is deeply rooted in the core values of the organization. According to (Hill C, W, L, 2007) organisational culture comes from several sources. Firstly, influential leaders can have an influence on the culture of the organisation. Secondly, the social culture of a country where the company was founded also influences its corporate culture. The third influence is the history of the company and lastly decisions that yield high performance tend to become embedded in the values of the firm. Many acquisitions fail because of the differences in corporate culture that exist amongst both units. This is because; if the differences are not managed properly they cause a strain on the integration process. An example is the Daimler and Chrysler merger which experienced a clash of corporate culture. Though it is not surprising that the merging of a German company and an American company would present dissimilarity in corporate cultures, there was insufficient support or consideration for these challenges offered to staff. Ideally both Daimler and Chrysler were to benefit equally from each others strengths and capabilities and ultimately increase performance but the cultural clashes significantly affected the corporate structure and success of the merger. (Hill, C.W. L, 2007, pg.505). This caused high management turnover and eventually loss of knowledge and expertise. (Bresman et al.,1999:17) therefore ?trepoe? the importance of cultural compatibility influencing international merger and acquisition success by arguing that the similarities of both parents organisational culture play a critical role in determining the international mergers and acquisitions extent of knowledge acquisition. With the view that cultural compatibility increases the possibility to acquire knowledge and the acquired knowledge then contributes to form new corporate cultures. (De long and Fahey, 2000) identified four ways in which culture influences knowledge transfer. Firstly, culture shapes assumptions about what knowledge is and what type of knowledge is worth managing. Secondly, culture defines the relationships between individual and organisational learning by determining who can control a specific type of knowledge. Thirdly, culture creates the context for social interaction that determines how knowledge will be used in a particular situation. Lastly, culture shapes the processes by which new knowledge is created legitimated and distributed in an organisation. For (M?rpoini,2004) the high failure rates of acquisitions observed over a long period of time by researchers are often due to company manager systematically overlooking the major cultural and organisational complexities involved in integrating the merging firms operations and informal networks. As the increasing number of ?rpo?-border acquisitions brought public attention to the ?la?he? of management styles and ?hilpopohie?, many poh?lar? tried to test whether organisations pould dipolay a higher level of cultural pom?atibility for a ?upoepoful acquisitions. Many thought companies with compatible cultures would be less problematic to acquire and generate value but a research by (Schoenberg, 2000) found out that the impact of cultural compatibility on acquisition performance is revolving around the form of post acquisition integration and the relative attractiveness of the acquirers culture. When knowledge is deeply embedded in a unique culture and organisational setting, transfer of knowledge becomes very difficult and costly. Researchers have argued that a major determinant of how much knowledge a company gains from a merger or an acquisition is its ability to learn from each other. (Hamel et al, 2002,). An example is the merger between General motors (GM) and Toyota in 1985 to build the Chevrolet. Toyota achieved its objectives from the merger and transferred all the knowledge to General Motors which was never put to good use. GM focused on the explicit knowledge forgetting that the tacit knowledge was embedded in the organisation. They should have worked together as a team to transfer both types of knowledge throughout the organisation. We can therefore say that to maximize the transfer of knowledge in a merger or acquisition both units need to adopt a common knowledge sharing culture across every part of the organisation. A shared culture may help informal integrating mechanisms such as knowledge networks to operate more efficiently. As such, a common culture may be of greater value in a multinational that is pursuing a strategy that requires cooperation and coordination between globally dispersed subsidiaries. (Hill, C.W. L, 2007, pp.472-474). Organisational culture can also be maintained by effective communication, organisational culture training as part of the due diligence process, maintaining trust from the pre acquisition stage and then finally staff must be trained on the core values of both units. According to (Baker and English, 2006), aspects of the business culture that can carefully be managed and improve knowledge transfer within the organization, is the use of a common business language and codes, the creation of a shared vision, and the construction of a common company culture that promotes knowledge transfer .Human due diligence should take place more openly and managers must make use of cultural assessment tools like employee surveys and face-to-face interviews. It is therefore useful to let the managers from both companies jointly review this data and agree on the cultural elements for the new company (Harding and Rouse, 2007). Managers must also be aware that basic approaches, values, and philosophies about employment regulation vary widely from country to country around the world. 2.5.2 Communication (Hybels and Weaver, 2007) define communication as any process in which people share information, ideas and feelings. It involves not only the spoken and written word but also the body language, personal mannerisms and anything that adds meaning to the message. Communication can be verbal and non verbal. In mergers and acquisitions, effective communication is very important because it helps coordinates and improves the transfer of knowledge. Communication is a process and consists of various elements which include sending of information, receiving information and feedback. This is in a form of of a basic communication model where the sender encodes the message, uses an appropriate medium to transmit the message and the receiver decodes the message (Hollensen, 2001). The positive outcome of the transfer of knowledge depends on an effective communication process which begins with the sender sharing the information, structuring the message in such a way that the receiver understands, selecting the appropriate method to convey the message to the recipient and then once an appropriate channel is selected and used, the receiver receives the message. Here he/she must decode the message. Meaning is attached to the various symbols and the channel used by the sender and now the receiver must interpret the message. This interpretation involves gaining an understanding from the message and is influenced by the receivers personal experiences, relationship with the sender, knowledge, perceptions and culture. Feedback is the final step in the communication process. Feedback is the response the receiver sends to the sender. In feedback the receiver conceives, encodes and selects the channel just like the original sender did. The original sender then becomes the receiver since he decodes, interprets and responds (feedback) to the response (feedback) the original receiver sent.However, this communication process is subject to many influences that determine its successful transfer. (Welch, D Welch, L, 2007). There are different ways of communicating tacit and coded knowledge. These are face to face and electronic communication. Face to face tends to be the most influential medium of communicating. This

Indecisiveness :: essays research papers

Indecisiveness In the story Hamlet, there is a prince who is unable to make decisions for himself. A prince who must have good quality proof before he decides to do something. The public refers to people who cannot make decisions for themselves as people who are indecisive. In Hamlet, the prince of Denmark, Hamlet, is unable to make decisions for himself, and relies on the actions of others to make his final choice on wether to kill his Uncle Claudius or not. Many situations confirm this, such as when Hamlet put on a play, when someone was killed with something placed into the actors ear killing him and making Claudius panic and run off. Or when Hamlet says, "I'll have grounds/ more relative than this--the play's the thing/ Wherein I'll catch the conscience of the King" (II.ii.583-585), this suggests that Hamlet is indecisive because he does not have enough information to decide if Claudius is guilty or not. And also in many of Hamlet’s soliloquies, Hamlet speaks to himself an d questions his own judgement at many times during the play. All this can lead one to believe that Hamlet’s fatal flaw was his inability to make a solid choice, or indecisiveness. Hamlet’s friend invited a group of traveling actors to come to the court and preform an act for Hamlet to cheer him up. Hamlet financially supports this group of actors and asks for them to, at the end, have a killing in which a liquid will be placed into the ear of a actor, thus killing him. Hamlet believes this will make Claudius snap and he will have enough proof to kill Claudius. The plan goes as follows and Claudius stands up, shouts for light, and rushes off. Hamlet and his friend Horatio agree that this is enough proof. But still, even after this incident, Hamlet never does anything to capitalize. Because of this incident, where in any other circumstance, Claudius would have no reason to run off, but he did, Hamlet should have been convinced that the ghost of his father that spoke to him months before was the ghost of his father, and not the devil. In act two, scene two, Hamlet says "I'll have grounds/ more relative than this--the play's the thing/ Wherein I'll catch the conscience of the King" (II.ii.583-585), this tells a lot about Hamlet. First off, even though the ghost looked like his father, he would not believe the ghost, fearing the devil may have taken his fathers form.

Term: Poverty Reduction Programs

The proportion of households living below the official poverty line has declined slowly and unevenly in the past four decades, and poverty reduction has en much slower than in neighboring countries such as the People's Republic of China, Indonesia, Thailand, and Viet Name. Economic growth has gone through boom and bust cycles, and recent episodes of moderate economic expansion have had limited impact on the poor. Great inequality across income brackets, regions, and sectors, as well as unmanaged population growth, are considered some of the key factors constraining poverty reduction efforts.Poverty and inequality in the Philippines remains a challenge. In the past four decades, the proportion of households living below the official poverty line has declined slowly and unevenly ND poverty reduction has been much slower than in neighboring countries such as the People's Republic of China, Indonesia, Thailand, and Viet Name. Economic growth has gone through boom and bust cycles, and rec ent episodes of moderate economic expansion have had limited impact on the poor.Great inequality across income brackets, regions, and sectors, as well as unmanaged population growth, are considered some of the key factors constraining poverty reduction efforts. II. Definition of Terms Poverty- is scarcity, dearth, or the state of one who lacks a certain amount of material possessions or money. Unemployment- occurs when people are without work and actively seeking work. GAP- Gross domestic product (GAP) is the market value of all officially recognized final goods and services produced within a country in a year, or other given period of time.GAP per capita is often considered an indicator of a country's standard of living Corruption- in philosophical, theological,or moral discussions, corruption is spiritual or moral imp rutty or deviation from an ideal. Corruption may include many activities including bribery and embezzlement. Government, or ‘political', corruption occurs hen an office-holder or other governmental employee acts in an official capacity for personal gain Tax- is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law.Taxes are also imposed by many administrative divisions. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent. Population growth- is the change in a population over time, and can be quantified as the change in the number of individuals of any species in a population using â€Å"per unit time† for measurement Ill.Outline Poverty in the Philippines: Causes, Constraints, and Opportunities comprehensively analyze the causes of poverty and recommends ways to accelerate poverty reduction and achieve more inclusive growth. The report provides an overview of current government responses, strategies, and achievements in the fight against poverty and identifies and prioritize future needs and interventions. The analysis is based on current literature and the latest available data, including the 2006 Family Income and Expenditure Survey.The main causes of poverty in the country include the following: low to moderate economic growth for the past 40 years; owe growth elasticity of poverty reduction; weakness in employment generation and the quality of Jobs generated; failure to fully develop the agriculture sector; high inflation during crisis periods; high levels of population growth; high and persistent levels of inequality (incomes and assets), which dampen the positive impacts of economic expansion; and Recurrent shocks and exposure to risks such as economic crisis, conflicts, natural disasters, and â€Å"environmental poverty. Key factors that worsen poverty in our country Economic growth did not translate into poverty reduction in recent years; Poverty levels vary greatly by regions;Poverty remains a mainly rural phenomenon though urba n poverty is on the rise; Poverty levels are strongly linked to educational attainment; The poor have large families, with six or more members; Many Filipino households remain vulnerable to shocks and risks; Governance and institutional constraints remain in the poverty response; There is weak local government capacity for implementing poverty reduction programs; Deficient targeting in various poverty programs; There are serious resource gaps for poverty reduction and the attainment of the Megs by 201 5; Multidimensional responses to poverty reduction are needed; andFurther research on chronic poverty is needed. Other cause The incomplete land reform aiming at overthrowing the traditionally unequal agrarian society coupled with lack of support for farmers has been a long-lasting flaw in the governments' development policies that can still massively reduce poverty in the Philippines. Thus, the role of the state remains central to redistribute more equally the wealth created in the co untry, in order to avoid leaving the poor behind.Supporting the extremely poor must be seen as a long-term investment and counterbalanced with future gains. However, mistrust in the government combined tit corruption and/or incompetence makes the overall task much harder, even though it has led to the rise of militant movements that speak in favor of farmers to build fairer trade systems. In a strange way, another problem for the Philippines is that, in spite of having embraced liberalizing and international organizations' rules, they have now ended up less integrated in the world economy than other Asian countries.For instance, import tariff on rice makes it one of the rare exceptions in WTFO, although understandable when you see how important rice is to the livelihood f millions of Filipinos. However, recent research on food price increase has shown that tariffs do not help protect farmers and instead increases poverty in both rural and urban areas. That's because, even if importe d rice can compete with domestic rice, the competition results in an overall reduction in consumer prices that is good for everyone.Moreover, with the right support, it helps identify which farmers need help and training so that they can either better manage their rice production or diversify their crops. Effects of poverty in the Philippines Rapid Population Growth Given that the population of the Philippines is increasing at a rapid rate of 2. 36% per year, it can be translated as an increase of more than 5,000 people daily in a country, which already has an increase of more than four million poor people since 1985. An 1985, the absolute number of people living in poverty was 26. 5 million.This increased to 30. 4 million in 2000 and from 2006 to 2009, increased by almost 970,000 Filipinos from 22. 2 million to 23. 1 million. As the Philippines have financially limited resources and a high poverty rate, the rapid increase in population has become a robber because there is an alread y insufficient resource to support the population, which leaves much fewer resources to improve the economy. From 2003 to 2006, even though the Philippines experienced above-average economic growth, the poverty incidence actually increased as a result of its population growth rate.Unemployment Poverty reduction has not kept up with GAP growth rates, largely due to the high unemployment rate, high inflation rate and wide income inequality. From 2000 to 2009, the economy of Philippines grew by 3. 2% on average annually, which was on par with the economic performance of its neighbors. However, this recent growth did not translate into more Jobs. Unemployment in the Philippines has been high in comparison to its neighbors, at around 7. 5% to 8. 0% since 2006.As the world's second largest archipelago, the Philippines have faced difficulty in Job creation due to its inability to attract more foreign, direct investments. Died Gunrunning, whom is the Central Bank Deputy Governor, mentioned that while capital flows are turning to the emerging markets, foreign, direct investments to the Philippines remain relatively low due to the weak investment climate. The Philippines have hefty business procedures, or tax and customs administration, weak protection against expropriation and high-energy cost. Therefore, the poverty rate remains constant over the years.There is a lot of poverty in the Philippines. Some people, called â€Å"squatters,† live near trash mounds and scavenge through the rubble to find materials that they can re-sell. Many are living in extreme poverty and unsanitary conditions. One of the effects this impoverished lifestyle has on them is an extremely short life expectancy. But there are some rays of hope. For one, slow but steady economic improvements are providing Jobs in places like call centers. Secondly, charitable organizations like the Philippine Aid Society are growing and working hard to fight poverty.For those who want to do their part to help, consider a financial donation to one of these charities. Some solution for Poverty in Philippines Major Government Reform Removing of corrupt government officials Create more Employment Opportunities Call for help from the foreign countries for assistance in ending poverty ‘V. CONCLUSION Protecting the â€Å"pre-poor† Aside from the fact that over 1/3 of the population lives in poverty in the Philippines, experts have also observed that a good 50% of households are in a precarious tuition vulnerable enough to fall into poverty if a minor financial setback happens.Hence, the government must not Just take care of the poor, but also make sure that millions more don't fall into poverty. Prevention is a must, if they want to prevent the problem from getting much bigger. Precariousness is usually worse in rural areas, even though many urban Filipinos are often at risk of falling into poverty as well. This shows that if urban poverty in the Philippines is much lower than rural one, there is a constant risk that it gets much bigger since many households are too vulnerable to economic shocks. Also, a characteristic of these precarious families is that they tend to have more kids than the non-precarious ones.Therefore, guaranteeing access to education and contraception are things that the government must focus on for its poverty prevention plan End import tariff, reduce poverty in the Philippines The other main problem slowing down efforts to tackle poverty are tariff (I. E. Taxes) on imports. Although they were created to protect local production, they ended up having the opposite effect. Tariff has made it more expensive for local producers (both in agriculture and industry) to import much-needed input for production. Therefore local production has stalled and resulted in more expensive prices for everyone.And in the end, many Filipinos were eventually buying foreign goods anyway as they're (sometimes) cheaper and more diverse. In the sass, the gove rnment has started reducing tariff which decreased the price of energy (e. G. Oil and coal) and eventually reduced poverty as other prices fell as well. The government made up for the loss in revenue by implementing a carbon tax that also helped protecting the environment. Indeed, for a while cheaper oil also meant more pollution as the population used more machines. In the end, revenue from the carbon tax proved even higher than that from tariff.As a result, the excess of money led to lower taxes on the population and thus less poverty in the Philippines too. V. RECOMMENDATION Corruption is Just one of the factors in these problem but we must work together in order to end it. There are many ways to help the poor and end the poverty in our country. But it is not Just the problem of the government it is also the problem of all Filipino people. We as a the citizen of this country must work our way to establish ourselves by educating our minds in developing our personal lives and by th is we an as a country rise to the challenge of ending poverty.

Coles Marketing Plan Essay

Cole is an Australian supermarket with large influence and market share in the country. In addition, the company contributes significantly to the nation’s economy. In essence, the company has acquired more than 30% of the market share of the supermarket industry in this nation. Specifically, the company’sproduct line consists of daily products, grocery, meat, deli, fresh produce, bake house, cigarettes, liquor, apparel, general merchandize and over head products. Notably Cole has a culture of low price as its marketing strategy of attracting and retaining customers. Fresh produce are the chief of Cole’s product line. The chain of supermarket is among the leading retailers operating more than 720 stores in Australia (Morales, 2013). The company harbors more than 90, 000 employees with a customer base of approximately 4.5 million people. Woolworths is the main competitor of Cole with 40% stake in the Industry. Others include Aldi, Speciality Foods, and Franklins. Coles together with its leading competitor have a market competitor of sale price and large customer base (Pearson and Hendricks, 2011). The company endeavors for high quality in its products, services and delivery (Szakiel and Beare, 2009).[PPD_PAYTOREADMORE] The present market strategy of Cole is geared towards the liquor, food and fuel consumers (Morales, 2013). In addition, it emphasizes on providing a diversity of products on its target markets with customers of different income. Further, Cole’s consumers are derived from all over the world (Romaniuk and Thiel, 2012). With regard to promotion, the company employs different media such as the radio, newspapers, the internet and TV in the promotion and advertisement of its products. Public relations are also another strategy in promoting the company. MARKETING OBJECTIVES The situation analysis identified some of the objectives for Cole Supermarket . Among them is increasing revenue, increasing the customer base, building customer royalty and increasing the competitive advantage. Increasing sales and revenue Just as it is for much business, increasing sales is also the core of Cole’s business objective (Simon, 2013). The objectives of this company is to increase its sales to more than $150, 000 in the first year of its establishment, the management anticipates that the second year sales will increase by 50% and the third year by 40%. By the second year of its operation, the company would have expanded to include more stores and supermarkets in various parts of the world. Coles aspires to sell as many products as possible and generate high returns. Despite this, the company faces stiff competition from mass merchandisers and restaurants in some of its products. This point to the reason why the company has relied on fresh produce, and which are which are convenient to the customers. In addition, the company has also diversified its products to include many varieties with different prices to suit customers with different economic capabilities. Cole’s Strategy has been emphasized on clients who wish to do a one stop shopping. Increasing Customer Base and Traffic Most business organizations especially start ups and small ones workvery hard to acquire a customer base (Lusch 2007). In order to achieve a customer rate in their stores, Cole’s stores are located in areas that have high traffic such as big cities and towns. You will rarely find a Cole Supermarket in a rural environment. Some of Cole’s stores are also located in near apartments, residential and business districts. Cole is also much interested in building customer loyalty in its businesses. This is the reason why it has established royalty programs in order to retain and make customers royal. These royal programs are designed in such a way that the clients are rewarded according to how they purchase products. Improving its Ratings and competitive advantage Cole endeavors to do research with regard to its various products fresh produce, meat, daily products, grocery, deli, bake  house, cigarettes, liquor,apparel, general merchandize and over head products and customer service.The reason for these phenomena is to ensure that the products and services offered are of top quality and which customers will find unique. Improving the products and services will certainly increase the company’s rating and competitive advantage in this industry(Argenti 2008). TARGET MARKET and Position The company has particularly focused on the segmented population who requires their products under one roof or in other words, one stop shopping. Cole will be much like a haven for shoppers of all economic levels and busy types who wish to tend to look for products that are unique and special. This is because; the services are faster but yet satisfying. Such people will find the high quality goods and services to their expectations. Moreover, the clients will as well appreciate the faster service and fun experience at the company’s premises , whether they are celebrating special events or simply want to enjoy the special products at low prices. Cole expects to establish more and bigger stores and supermarkets in order to improve its competitive edge among its leading competitors such asWoolworths. According to the situation analysis, the â€Å"down down† price strategy appears to stay since for many years, it has acted as its competitive edge. Hence, the low price strategy will assist the company in competing for the customers ( Mckeown, 2012). Further, the increase in its floor space for its stores and supermarkets by 2% every year is to provide more space for its groceries and fresh produce including more products such brand mix and apparel. The company anticipates adding more than 20 stores in various parts of the world in this year alone. This owes to the increased customers and expansion programs. This is also a way of establishing a platform for the steady growth and expansion for the coming years. In essence, Cole wants to penetrate into its competitor’s market share including its main rival, the Woolworths. COLES APPROACH TO THE MARKETING MIX The marketing strategy for Cole Chain of Supermarket is the creation of awareness on potential customers by use f mouth and media advertisements such as magazines radio, internet and newspapers. With regard to media, the company employs the most popular ones both in print and electronic to present their advertisements and promotions. In this way, they are able to create what is known as distinctive experience in superior products. Other means for reaching out these clients include promotions, and fliers. The strategic location of the company’s premises would be typically considered as an important function for the purpose of marketing and promotion (Allison and Kaye, 2005). The premises are established in high traffic retail areas of business districts and towns. The central business districts, residential areas and towns in this perspective offer attractive incentives for investors and other business that are in operation. Moreover, the businesses are strategically positioned and easily accessible by the public and customers, there is also an advantage of the public which comes from being located in the central business center. Cole supermarket focuses on the basically educated and progressive clients fascinated in tying out new experiences and products and those who are not satisfied with the existing products or a service that are offered in other stores and outlets. ROLE OF THE MARKET PLAN One of the main contributions of the marketing plan is defining an organization’s mission and objectives. Likewise, this marketing plan will assist Cole’s Chain of supermarkets in achieving its objectives and in defining its long-term mission (Baker, 2008). This marketing plan will assist Cole in achieving substantial if not tremendous revenue just within the few years of its operation. It will also assist in more investment in the company and expansion to more stores by the subsequent years. In addition, it is anticipated that the marketing plan will assist the company in establishing a special relation with each worker (Tracy 2000). In this way, the workers a will be made responsible for their  stores and be rewarded for the profits generated. Evaluating all indicators of each variable or environment that makes up the PESTEL analysis, it is possible to express the diagnosis of the external environment in which this business will be inserted. Thus it was found that, in general, the external environment is in favor of development of the Cole Supermarket

Leave Our Natural Supplements Alone essays

Leave Our Natural Supplements Alone essays Most Americans have used some sort of natural nutritional supplements at least one point or another in their life. Millions of people believe that dietary supplements help maintain proper a health balance. For years people have searched for the best natural healing system available. Supplements have been well documented over history and have showed to have a lot proven benefits. Food supplements play an important part in people maintaining proper health. Scientific research continues to prove that minerals and vitamins can help in preventing certain types of diseases, plus help people live a healthier life. Some people have a misconception about natural substances. Dietary supplements are considered food supplements, not drugs. The Food and Drug Administration regulates or has the power to ensure that products being sold are safe and properly labeled. In 1994 the Dietary Supplement Health and Education Act (DSHEA) was passed. This law was a big step in the right direction for natural supplements. The government should not be involved with regulating food supplements. The FDA already regulates the prescription drug market and thousands of people die yearly from adverse effects from medication they consume, which is considered safe (OMeara 3). The legislation acts like they are concerned about peoples safety. But in fact they are upset because of the loss of control over nutritional supplements. The 1994 DSHEA law keeps the FDA from being able to ban nutritional supplements. Natural supplements are not drugs and should not have to follow the same expensive regulation guidelines as prescription medications. When Prescription Pharmaceutical drugs enter the market, they are considered safe for consumers. Maybe this should state partially safe, or safe enough to make a large profit off. If the safe for consumers statement is true, then why do 240,000 deaths occur each year by using these drugs co...

A Quick Look at Castiglione and Cellini Life

A Quick Look at Castiglione and Cellini Life Lawrence in his book Culture and Values A Survey of the Humanities, stated that “Early sixteenth-century Renaissance culture was a study in contrasts. The period not only marked a time when some of the most refined artistic accomplishments were achieved, it was also a period of great social upheaval”(332). In fact, there were many outstanding artists at that time, among them were Castiglione known for their philosophy of life and Cellini the first artist who really lived his own life.Castiglione was a well-rounded man with chivalry spirit as the author described “He was a versatile man a person of profound leaning, equipped with physical and martial skills, and possessed of a noble and refined demeanor”(332). The fact that he well-educated and aristocratic, he worked at the Urbino court from 1504 to 1506 and decided to write The Courtier that took him dozen years. According to the book he wrote, a true gentlemen should have brain and have adequate knowledge about his tory but the most important thing is do not rely in Christian.Elizabeth Cooke, daughter of Anthony Cooke, tutor ...

Understanding the Gist of the Matter

Understanding the Gist of the Matter Understanding the Gist of the Matter Understanding the Gist of the Matter By Maeve Maddox Ive begun to notice the misuse of just for gist in the expression gist of the matter. Admittedly, many of the occurrences appear in informal comments at the end of blogs and articles, but Ive also found examples in formal pieces written by writers who should know better. I think I got the just of the matter. Though I also suspect that I missed a few points†¦ The just of the matter is that it isnt Christ that fell short, when you mess up, it is you. I think that [it] is very hard to please men†¦The just of the matter is, either they like you or they dont. The just of the matter is, whenever you hear something about biofuels and biorefining, keep an open mind and never assume that what you’ve heard about it in the past applies now. gist    1. Law. The real ground or point (of an action, indictment, etc.). 2. The substance or pith of a matter, the essence or main part. The noun gist in the gist of the matter, derives from Anglo-French legal phrases that included the word gist in the sense of the verb lies.; for example, cest action gist, literally, this action lies, from French gà ©sir, to lie, from Latin jacet, it lies. The meaning of this action lies was this case is sustainable by law. Other ways to say the gist of the matter are: the heart of the matter the most essential thing to know or remember the main point Here are some examples of the correct use of gist on the web: Sometimes we crunch data and painstakingly calculate choices and positions, and sometimes we rapidly and automatically seize on the essence, the simple value, the gist of the matter. The gist of the matter can be found on Lisa’s post, as well as a rather lengthy discussion Microcontent: Sometimes You Just Need the Gist We now come to the gist of the matter. That, in our opinion, is what the real gist of Lenins thesis on the identity†¦of dialectics†¦[is]. I found a business podcast called The Gist of the Matter. Theres also a web application called Gist. It analyzes email and summarizes the content based on perceived importance sorted by time, people, attachments, communication frequency, or companies. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Passed vs PastEmail Etiquette75 Synonyms for â€Å"Hard†

Dance review Movie Example | Topics and Well Written Essays - 750 words

Dance - Movie Review Example The performance is structured around a collection of themes as well as reoccurring settings. The work can be viewed as being light but punctuated with some heavier moments. The choreographer, Barton ventures more into subjects regarding femininity, masculinity, ritual, water and nurture. The choreography depicted from the performance is quite demanding but despite this the performers rise to the challenge. There are three dancers that standout due to the fact that they are heavily featured: Davon Rainey, William Briscoe and Jonathan Alsberry. The three dancers are quite captivating based on their fast as well as a percussive unison section where they are able to sway their hips and also strut their things in a quite incredible but yet masculine way. The piece Awaa is a one evening length that is performed within a condensed time frame of about 45 minutes from the full version which was 75 minutes(Barton). The dance is a group work performed by six male and one female. The movements are simple and effectively magnified in order to suit the rhythm of the music selected. The dance movements are fast and greatly coordinated among the dancers. The dancers move at a meditative pace as they execute each routine of their performance. Based on my perception I tend to think that the choreographer, Barton tends to leave most of the explanation of the performance to the audience. Nevertheless, the performance made me view different aspects that are involved in choreography. The work clearly shows the relationship that tends to exist between dance and music. The dance routine must be greatly coordinated with the music that goes along with it. The piece Awaa has a unique dance routine that tries to tell a story based on the subjects of femininity and masculinity but due to the element of confusing array of the projected images it is quite difficult to formulate the entire story or what message the dance is trying to pass across to the audience. The dancers

Evaluation of Three Different Types of Spectroscopy Lab Report

Evaluation of Three Different Types of Spectroscopy - Lab Report Example The sample is then heated via flame, plasma or electricity; this causes desolvation, liquefaction, vaporization and finally atomization (Sagi & Rathnam, 2013). Components include; a) The light source which is usually a hollow cathode lamp. Atoms of different elements absorb specific wavelengths of light therefore in order to analyse a sample for a specific element, the light source used must correspond to the wavelength of that element. b) A compartment in which samples are atomised via (flame, graphite furnace, MHS cell, FIAS cell, FIMS cell). c) A monochromator that disperses the light. d) A detector, which measures the light intensity and amplifies the Signal. e) A display that shows the reading. AAS has various uses such as analysis of bodily fluids like blood and urine for heavy metal poisoning and monitoring of the environment by measuring levels of certain elements in lakes, food like fish and the air (Karabegov, 2011). Fluorescence is a photon emission process. Absorption of light by some molecules causes movement of electrons from the ground state to an excited state. This excited molecule will return to a lower energy level by dispersing part of its energy. It will then return to the ground state by emission of a photon (fluorescence). As a result of this loss of energy, stokes shift is observed. Stokes shift is when there is a difference in wavelength of the absorption and emission spectra (Ge, et al., 2010) Only molecules containing a functional group which has the ability to absorb energy of a certain wavelength and re-emit it at a different but specific wavelength (fluorophore) will exhibit fluorescence (Ge, et al., 2010) a) The light source, an example of the first type used is the tungsten-halogen lamp and later on, mercury lamps were used. However, now xenon lamps are mainly used. b) A Monochromator used to select both the excitation and emission wavelength. c) Sample holders, the cuvette is placed in