Role performance in an interpreted discourse process Essay Example for Free

Role performance in an interpreted discourse process Essay From the previous chapter it is clear that an interpreters role is more than that of passing messages back and forth; it is also Ð ° role that manages the communication process of exchanging those messages. In this chapter, І begin with Ð ° discussion of how the role has been and, in many ways, still is conceived. To investigate further the performance of that role and its implications for norms in interpreting, І analyze four examples of interpreter performance. Practicing interpreters are aware of the public and professional expectations of and demands on their practice, most of which are concerned with confidentiality, neutrality, accuracy, and faithfulness to the message. Interpreters often describe their role as the person in the middle by using Ð ° metaphor which conveys the image or impression that they serve as Ð ° bridge or channel through which communication happens. This channel is supposed to relay Ð ° message from one speaker to another faithfully, accurately, and without personal or emotional bias. The performance of this role has been compared to Ð ° machine, Ð ° window, Ð ° bridge, and Ð ° telephone lineamong otherswhen trying to compress the complexity of the role into Ð ° simple, singular analogy or metaphor. This perspective developed, in part, from practitioners, educators, and researchers who have devoted the bulk of their attention to interpreters working within public and monologic contexts. In these public forums interpreters usually are interpreting for speakers who speak one at Ð ° time to typically non-responsive audiences. In these events, an interpreters role appears conduit like, passive, and noninvolved. Another reason for the persistence of this perspective lies in past research on interpreting which has been done largely by cognitive psychologists and psycholinguists who have focused on the phenomena of language processing and transference of information. This research on the complexity of listening, understanding, and speaking simultaneously has produced detailed models of the psycholinguistic stages of transfer based on errors revealed in the target language production (Cokely 1984; Moser-Mercer 1978). Although these models provide better understanding and appreciation of the mental complexity of interpreting, their very nature reinforces the metaphorical image through which interpreting is perceived. Unfortunately, the force of this perspective is such that most training and professional testing still (in 1998) devote their efforts to the details of the interpreted message and its form. Although the conduit metaphors developed partially in response to Ð ° particular situational performance and to the direction of research studies, they are also used because of ordinary perceptions about the nature of language and communication. Lakoff and Johnson (198o) found that although most people think of metaphors as devices of poets and rhetorical style, they are prevalent in our everyday lives because they allow us to present our conceptual systems through language. Metaphors structure how we think about and perceive our everyday lives. Reddy ( 1979) explains how ordinary language use portrays language as Ð ° conduit which passes on Ð ° speakers thoughts and ideas to Ð ° listener whose only task is to unwrap the thoughts and ideas that have been transmitted through Ð ° conduit and thus hides aspects of the communication experience. The words we use to talk about how ideas are shared are indicative of Ð ° conduit notion. For example, І gave you that idea. It seems hard to see Ð ° metaphor here at all. The word give seems ordinary enough until we ask ourselves if ideas have Ð ° concrete substance that can be given to someone else. These ordinary metaphors convey the sense that meaning actually resides in words, phrases, and sentences as Ð ° tangible object to be inserted or taken out. These metaphors also lead us to particular ways of thinking about the originator of the message, the message itself, and the receiver of the message. For example, Try to pack more thoughts into fewer words. This type of expression blames the speaker for failing to put enough meaning in or failing to put the meaning in the right place. Equally, in the logic of Ð ° conduit metaphor, the receiver must unpack the meaning from the words. Let me know if you find any good ideas in the talk. Its as though ideas can be inserted into words and sentences. The conduit metaphor implies Ð ° whole framework of basic assumptions about language, such as language functions like Ð ° conduit transferring thoughts from one person to another, words accomplish Ð ° transfer of ideas by containing the thoughts or feelings in the words and conveying them to others, and people can extract exactly the same idea, thought or feeling by simply receiving the words. These everyday metaphors mold our perceptions about language and communication Conduit metaphors that abound in the fields of communication, psychology, language, and information processing have been naturally brought into the field of interpreting. It is easy to see how Ð ° communication process involving Ð ° supposedly neutral or passive third party accepts Ð ° conduit-type metaphor as Ð ° way of defining itself. Although these metaphors clearly respond to Ð ° need, they also carry double messages. Certainly they convey the idea of transferring messages, but, at the same time, they call to mind images of disengagement and noninvolvement on any other level. Frequently, interpreters are called on by those who use their services to be flexible and in fact are called upon by their own colleagues to be so. Standards of ethical practice extensively, sometimes exhaustively, list what interpreters should not do, but they seldom explain what interpreters can, or should do, or where or how flexibility should be exercised. Consequently, discussions of practice fall back on what interpreters should not do, or what interpreters may do within the guidelines and wind up being discussions of ethics. In addition to creating metaphors to describe role performance, interpreters (and others) tend to idealize conversational behavior even though their experience with interaction violates both their notions of relaying messages and of the way conversations should occur. In private conversations, interpreters confess to breaking the rules while also admitting that their rule-breaking behavior was successful. What interpreters actually know (intuitively or objectively) and do is complex from both the perspective of psycholinguistic processes and also from the perspective of interactive communication systems as Ð ° whole. Interpreters are not simply processing information and passively passing it back and forth. Their task requires knowledge of Ð ° discourse system that includes grammar, language use, organization, participant relationships, contextual knowledge, and socio-cultural knowledge. Interpreters must also have the ability to adapt this knowledge quickly to size up Ð ° situation, anticipate problems, and decide on solutions within seconds which means they operate within an emergent system of adaptability. Because standards of practice have developed before we have described and analyzed what interpreters do as they work, interpreters use the language of ethical behavior to talk about their job performance. one way in which interpreting as Ð ° discourse process can work for interpreters is in providing new ways to describe, name, and discuss the interpreting process. As this study and the work of Wadensjo (1992), Metzger (1995), and others have shown, interpreters interact in multiple ways within the communicative event of interpreting.

Marketing Analysis of Aldi

Marketing Analysis of Aldi

Relationship Between Learning and Growth in Business

Relationship Between Learning and Growth in Business Introduction The introductory chapter begins with a description of the context of the present study and a presentation of the fundamental issue addressed in this empirical investigation. The significance of intangible assets in knowledge era, objectives, conceptual framework and contribution value of this study is also addressed in this chapter. 1.1 Research Context This section presents the broad context within which this empirical investigation is undertaken. The current problems and significance of intangible assets in knowledge era are explained. Traditionally, profit and loss figures in the balance sheet and annual financial reports are used as the main financial performance indicators for the action previously taken monitoring and crafting short term strategies. Accounting for intangible assets starts with documenting the various categories of expenses. Profit (or loss) is derived from the financial difference between sales revenue and operating cost. The costs include the expenses in brand building, customer database, training, product development, information technology, etc. These are usually treated as part of the operating cost and marketing expenses. The investment of tangible assets such as equipment, machinery, building, etc. is also recorded in balance sheet. This simple accounting record mechanism is no longer sufficient in the knowledge based economy. There is no linkage with long term strategies to compete with global competitors and survive in dynamic economic. Since an increasing share of market value in this era is not represented by inventory or physical assets. Investments in intangible assets are usually not documented in a proper systematic manner because of data non-availability. Consequently, reasonable estimates of the future performance potential of an organization could not be provided to the management. It is intriguing to note that the cause-effect relationships between marketing, production and human resource and financial performance have not so far been made operational. Prior to the knowledge era, business lived in the world of tangibles, which worked well with the traditional accounting practices. However, things are different in todays world of intangibles. Modern management style and strategic crafting have adapted in response to global competition and volatile economic environment. The industrial age management has been replaced by the knowledge age leadership, with corresponding transformational effects on the economy and workplace (Figure 1.1). The focus on tangible assets in the industrial age has shifted to intangible assets in the knowledge age. This paradigm shift encourages organizational employees to utilize their knowledge in line with organizational goals. Globalization is the main driver of knowledge economy. Toffler (1990) proposed knowledge as the key success factor in the present competition. Knowledge can be transferred by information flow from manufacturers to customers. Organization knowledge could be frequently managed by well- organized people in organization. Knowledge and information technology form an important part of intangible assets. With the realization of this paradigm shift, issues concerning intangible assets are now more widely researched and practiced. Figure 1.1 The shift in management style from industrial age to the knowledge age Intangible assets are of increasing importance for the corporate value creation  processes of all kinds of organizations. In 1978, intangible assets were determined to constitute only 5% of all assets, while they become 78% of all assets today. Some 50 to 90 percent of the value created by a firm in todays economy is estimated to come from the management of the firms intellectual capital rather than from the use and production of material goods (Guthrie and Yongvanich, 2004). Some public and private sector organizations do not attempt to incorporate the value of intangible assets. Sonnier et al. (2007) examined 150 high technology companies and found that management may want to reduce the level of disclosure to conceal sensitive strategic information in order to maintain a competitive advantage. As such, management reporting and financial statements will become increasingly irrelevant as a tool supporting meaningful decision making. Forward-thinking management has to ensure that in tangible assets are identified, monitored, built and leveraged. Financial profit alone could not guarantee the long term survival of companies. To be sustainable, companies need to understand and be able to manage intangible factors, including organizational learning and growth, internal process and external structure. Management that aspires for sustainable business growth and industrial leadership in the twenty-first century has to focus on superior management skills and knowledge under limited resources. Augier and Teece (2005) and Johanson (2005) reported that human capital, knowledge and other intangible assets have emerged as key to business performance in the economic systems. The intangible assets are the competitive edge over competitors. Srivastava et al. (1998) suggested the framework linking market-based assets to shareholder value which could be considered as the subset of present study. The market investment in brand and customer-profile databases leads to cash flows via a combination of price and share premiums, faster market penetration, reduced distribution, sales and service costs, and increased loyalty and retention. Brands are economic assets which are to create value shareholders and develop competitive advantage (Doyle, 2001). During the last three decades, brand is widely recognized as playing the key role in business. Brands influence customer choice, but the influence varies depending on the market in which the brand operates. Ittner (2008) suggested several pre vious studies that provided at least some evidence that intangible asset measurement is associated with higher performance. Several previous studies are limited by over-reliance on perceptual satisfaction or outcome variables, inadequate controls for contingency factors, simple variables for capturing complex measurement practices, and the lack of data implementation practice. In this study, the Balanced Scorecard strategy map (Kaplan and Norton, 2004) is chosen to provide a framework to illustrate how strategy links intangible assets to value creating processes. The reasons for choosing Balanced Scorecard as the stage to build the framework for the present research are as follows: First, Balanced Scorecard is a practical approach to measure the intangible assets that has been widely used in a variety of organizations over the past two decades. Second, through the strategy map concept, Balanced Scorecard provides the linkage the relationship between intangible assets and business performance including the interrelationship between intangible assets elements: 1) Learning and growth affect internal process 2) Internal process affects external structure 3) External structure affects business performance. The measures in the four perspectives are linked together by cause-effect relationships. The company builds the core competence and training to support the i nternal process. The internal process creates and delivers the customer value proposition. When the customers are satisfied, the sales and profit are delivered in terms of financial performance which is the key measure of business performance. 1.2 Research Objectives Since developed economies have become knowledge-based and technology intensive, view of the firm has significantly changed and intangible assets have become fundamental determinants of value and control. There are three fundamental elements of intangible assets which are learning and growth, internal process and external structure (Sveiby, 1997; Kaplan and Norton, 2004). The ultimate goal of firm is to maximize the business performance (financial performance, sales performance and customer fulfillment). This study aims to establish empirically the cause-effect relationship between learning and growth, internal process, external structure and business performance, including the interrelationships between the elements leading to business performance. 1.3 Expected Contributions of the Study There are two key areas of expected outcomes of the study. First, the impact of intangible assets on business performance is expected to be empirically established. In particular, the cause-effect relationship between learning and growth, internal process and external structure would be identified and analyzed. This is so that the detail underlying the relationships can be implemented in practice. Second, it is expected that the effect of business size, business sector and establishment age on the causal links between intangible assets and business performance would be established. As there are various types of firms business (service and non-service), sizes of business (large and SME), establishment age in the industry, this study would provide the pattern of cause-effect relationships between intangible assets and business performance in each business characteristic. Given the expected outcomes, the expected academic contributions of the present study would be to encourage similar studies to establish the causal links between intangible assets and business performance in other types of economies. The study would also provide the foundation for the field of intangible asset management For business practitioners, top management will benefit from the understanding of cause-effect relationship and the realization of the importance of intangible assets (learning and growth, internal business process and external structure) and business performance. With the clearer understanding, proper budget allocation and intangible assets management will be more properly focused and controlled to increase sustainable competitive advantage. The intangible assets are the strategic key to a sustainable competitive advantage and future economic profit. 1.4 Conceptual Framework During last decade years, intangible assets are widely expanded and researched. The value of intangible assets is likely to grow over time if the firm undertakes successful intangible assets management. The intangible assets in each fundamental element (learning and growth, internal process and external structure) are selected and classified as shown in Table 1.1. More detail explanation is given in Chapter 2. Table 1.1 Framework of intangible assets indicators The cause-effect relationship is covered in strategic mapping (Kaplan and Norton, 2004). There have also been several studies, e.g. Huselid and Becker (1997), Hitt et al. (2001), Liu and Tsai (2007), that examined the relationship between learning and growth and business performance as explain in more detail in Chapter 2. The main hypotheses in the present study are shown in Figure 1.2. Figure 1.2 Research hypotheses testing model H1: Learning and Growth is positively related to Internal Process H2: Internal Process is positively related to External Structure H3: External Structure is positively related to Business Performance H4: Learning and Growth is positively related to Business Performance 1.5 Outline of Methodology The research hypotheses formulated in this study were tested in the mail survey or questionnaire of registered company at the Thai Chamber of Commerce. The initial step in the analysis of the data collected focuses on examining the frequency distribution and the mean and standard deviation for each item or variable considered in this research. The next step in data analysis is to assess the validity of measures. Here the study uses item-total correlation, confirmatory factor analysis and the Cronbach alpha coefficient. The initial data analysis, and reliability and correlation analyses are performed using the SPSS statistical package. Furthermore, the structural equation modeling (SEM) EQS program (Bentler, 1995) is used to perform the confirmatory factor analysis, discriminant validity tests and testing of the structural model. The entire step-by-step model fit process from data collection by field survey questionnaires is shown in Figure 1.3. More details of research methodology ar e provided in Chapter 3. 1.6 Structure of the Thesis The thesis is structured on the basis of five chapters, which represent the different stages that are involved in the overall research process. Chapter 1 has covered the research context, current problems, purpose and expected contribution of the studies. Chapter 2 provides an extensive review of definition of intangible assets, intangible assets value and the Balanced Scorecard strategic mapping. This detail provide support to conceptual model of the study and the set of research hypotheses of the study which links learning and growth, internal process and external structure to business performance through cause-effect relationship. Chapter 3 presents the step-by-step research methodology used to conduct the study. It illustrates a range of important methodological issues including the research design, sampling, questionnaire development process, data collection and measurement of model variables. The Structural Equation Modeling (SEM) technique is briefly explained. Chapter 4 provides results of validity testing of the constructs and hypotheses of the present study by using EQS program for SEM technique and Statistical Package for Social Science (SPSS) program. Not only the results of the main research hypotheses testing model, but also other possible models are explored. Chapter 5 presents a summary of the major findings and conclusions of the study. It also suggests the long-term strategic implications of the study finding for top management. Finally, consideration is given to the limitations of this empirical investigation and suggestions are made for potential directions and strategies for future research. Literature Review This chapter reviews the definition of intangible assets and its value. The previous correlation empirical research between intangible assets and performance are reviewed. 2.1 Introduction There have been a large number of studies in intangible assets during the last two decades (see Figure 2.1). Intangible assets are involved in the customers, external structure, human resources, and internal process. The intangible assets are defined as non-financial assets without physical substance that are held for use in the production or supply of goods or services or for rental to others, or for administrative purpose (Epstein and Mirza, 2005). Intangible asset is an accounting term, but intellectual capital is a noun used in the management field. They both refer to the same thing. Therefore, Edvinsson and Malone (1997) and Tseng and Goo (2005) pointed out that intangible assets and intellectual capital are synonyms. Intangible assets are identifiable and controlled by the enterprise as a result of past events, and from which future economic benefits are expected to flow. Figure 2.1 Research development on intangible assets 2.2 Intangible Asset Element Classification Several studies have variously attempted to categorize intangible assets as summarized in Table 2.1. Some categorizations are in more common use than others. Table 2.1 Approaches for the categorization of intangible assets The purpose model of the above intangible assets researchers is summarized by Bontis (2000) in Table 2.2. Table 2.2 Purpose of intangible model In Table 2.1 and Table 2.2, there are the intangible elements correspond in each study. Wingren (2004) proposed that framework the correspond to intangible assets framework presented by Sveiby (1997) and Kaplan and Norton (1992) in Figure 2.2. Wingren (2004) mentioned that the Balanced Scorecard is primarily tool for internal development and evaluating the market value of the company for long run. Bose and Thomas (2007) implemented the concept of Balanced Scorecard to a company and they claimed that the formulating of Balanced Scorecard fits the strategic interest of the organization to achieve sustainable competitive advantage. The Balanced Scorecard encapsulates the short and long-term strategies. The motivation and evaluation of employee to achieve goal in BSC is rather than using it just as a measuring tool. When intangible assets are addressed and defined, there are four practical approaches to measure the intangible assets (Luthy, 1998): 1. Direct Intellectual Capital Method (DIC) Estimate the value of intangible assets by identifying its various components. Once these components are identified, they can be directly evaluated, either individually or as an aggregated coefficient. 2. Market Capitalization Method (MCM) Calculate the difference between a companys market capitalization and its stockholders equity as the value of the intellectual capital or intangible assets. 3. Return on Asset Method (ROA) Average pre-tax earnings of a company for a period of time are divided by the average tangible assets of the company. The result is a company ROA that is then compared with its industry average. The difference is multiplied by the companys average tangible assets to calculate an average annual earning from the intangibles. Dividing the above value of average earnings by the companys average cost of capital or an interest rate once can provide an estimate of the value of its intangible assets or intellectual capital. 4. Balanced Scorecard Method (BSC) The various components of intangible assets or intellectual capitals are identified and indicated. Indices are generated and reported in scorecards or graphs. Wingren (2004) has chosen to use the BSC concept because BSC contains outcome measures and the performance driver of outcomes, linked together in cause-effect relationships. There are linkages between customer, internal process and learning/growth with financial performance. The financial performance is the outcome and visible to the observers. 2.3 Intangible Assets in Balanced Scorecard Among the above four approaches, the Balanced Scorecard is by far the most well-known, although its original intent was not meant to be the measure for intangible assets, as discussed by Marr and Adams (2004) and Mouritsen et al. (2005). The Balanced Scorecard may be used to measure all the intangible assets in Table 2.1. Bose and Thomas (2007) recently applied the Balanced Scorecard in an empirical study of the Foster Brewing Group. The formulating of a scorecard that best fits the strategic interest of the organization is considered vital. In their view, the Balanced Scorecard is never really complete because the business environment (new competitors, changing customer demand, etc.) is dynamic and constantly evolving. As is already well-known, the Balanced Scorecard was introduced by Kaplan and Norton (1992) as a tool to link financial performance with non-financial performance dimensions: learning and growth, internal process and customer perspectives. Linkages and relationships between customers, internal process and learning/growth with financial performance are shown in Figure 2.3. The Balanced Scorecard acts as a measurement system, a strategic management system, and a communication tool. Seggie et al. (2007) made an argument for the Balanced Scorecard to be the measurement tool in marketing to measure non-financial assets and provide the organization with a long-term perspective. The Balanced Scorecard is at least partially forward-looking and partially geared toward the long-term performance of the firm. The Balanced Scorecard concept has been examined the performance measurement of bonus plan in major financial services firm. Ittner et al. (2003) recommended that the future research on Bal anced Scorecard adoption and performance consequences must move to encompass the entire implementation process. . The concept of cause-effect relationship separates the Balanced Scorecard from other performance management systems. The measures appearing on the scorecard should be linked together in a series of cause-effect relationships to tell the organizations strategic story. Increasing promotional expenses will lead to the increase in brand value. Increased brand value will lead to higher sales revenue The investment of human capital will create the continuous learning and growth in the organization. When the employees have more experience and knowledge, they can create the internal process which serves and fulfills customer satisfaction. The profit and revenue are the final outcomes of this causal chain. Heskett et al. (1994) explained that the linkage of the above model that investment in employee training leads to improvement in service quality. Better service quality lead to higher customer satisfaction. Higher customer satisfaction leads to increased customer loyalty. Increased customer loyalty generates increased revenues and margins. The following are five principles of successful Balanced Scorecard users (Kaplan and Norton, 2004): 1. Mobilize change through executive leadership 2. Translate the strategy into operational term 3. Align the organization to the strategy 4. Make strategy everyones job 5. Make strategy a continual process Intangible assets can be considered very much part of the Balanced Scorecard. Intangible assets are linked mainly to the marketing and human resources. Following is the review of intangible assets in Balanced Scorecard by Kaplan and Norton (1992) and intangible asset monitored by Sveiby (1997) are reviewed. By using the categories developed by Hall (1993), Sveiby (1997), Shaikh (2004) and Roos et al. (1997) reviewed and classified the intangible assets into a framework of internal structure, external structure, and employee competence as shown in Table 2.3. Table 2.3 Framework of intellectual capital/ intangible assets indicators From the above table, the intangible assets are reviewed as follows. 1. Learning and Growth The learning and growth is the capacity of employee to act in a wide variety of situations. Employee is the most valuable asset of the company in the highly competitive market. It is the one asset that creates uniqueness to the company and differentiates the company from the competitors. Sveiby (1997) emphasized employee capability as a key asset for organization growth. Employee satisfaction refers primarily to job and what employees perceive as offerings. Employee satisfaction is positively related to organizational commitment. There are several studies mentioned that human resource is effect to business performance. Huselid (1999) and Hand (1998) have reported the existence of a positive and significant relationship between investments in human resources and the market value of companies. Huselid and Becker (1997) found that there is a strongly positive relationship between a high performance human resource systems and firm performance. Bontis et al. (2000) found that human capita l had positive effect on customer retention and loyalty regardless of industry type. Hitt et al. (2001) and Hurwitz et al. (2002) found that human capital has a positive effect on performance. Also, human capital is shown to have moderate cause-effect relationships with strategy and firm performance. Moon and Kym (2006) confirmed that human capital, structural capital and relational capital have direct impact on intellectual capital. Liu and Tsai (2007) surveyed 560 managers from major Taiwanese hi-tech companies and found that knowledge management has a positive effect on operating performance. Lin and Kuo(2007) also investigated that human resource management influences operational performance indirectly through organizational learning and knowledge management capability. Knowledge is one of learning and growth perspective. In knowledge era, the knowledge management has been widely studies. The knowledge is lost by the organization when the employees leave the firm (Ordonez de Pablos, 2004). McKeen et al.(2006) founded that knowledge management was positive significant to overall organization performance (product leadership, customer intimacy and operational excellence) which is part of internal and customer perspectives in Balanced Scorecard. Organization performance was significant to financial performance. There was no significant direct relationship between knowledge management and financial performance. The knowledge sharing is a key issue in order to enhance the innovation capability that is one of internal process (Saenz et al., 2009). There is also the linkage of learning and growth and internal process. Forcadell and Guadamillas (2002) studies a firm used knowledge management to develop a process of continuous innovation which is in the inter nal business process perspective. 2. Internal Process The internal process includes patents, concepts, models, information technology systems, administrative systems and organizational culture (Aaker, 1991). Such leading companies as GE, Sony, IBM, or Ford used to cover a wide variety of products, but after finding that they could not sustain all product lines, they switched to selective products, while improving the intangible factors, quality and innovation. Deng et al. (1999) suggested that patent attributes are statistically associated with stock return and market to book ratio. Research and Development is one of intangible assets which is the most importance performance. Chu et al. (2008) founded that the valuation of assets and long-term focused in operation of US ICs firms are higher than the firms in Taiwan. 3. External Structure The external structure includes relationship with customers and suppliers. The Balanced Scorecard is concerned only customer value proposition, but the external structure covers supplier. The external structure also encompasses brand-names, customer loyalty, customer satisfaction and the companys reputation or goodwill. In the brand valuation terminology, brand is a large bundle of trademarks and associated intellectual property rights. Cravens and Guilding (1999) reported that brand valuation is one of the most effective means for business to bring accounting and marketing closer for the purpose of strategic brand management and effective means of communication between marketing and accounting. A branded business valuation is based on a discounted cash flow analysis of future earnings for that business discounted at the appropriate cost of capital. The value of the brand business is made up of a number of tangible and intangible assets. There are 2 brand evaluation models 1) research-based approaches measure consumer behavior and attitudes that have an impact on the economic performance of brands. No financial value on brands is in this model 2) purely financially driven approaches. Relationship Between Learning and Growth in Business Relationship Between Learning and Growth in Business Introduction The introductory chapter begins with a description of the context of the present study and a presentation of the fundamental issue addressed in this empirical investigation. The significance of intangible assets in knowledge era, objectives, conceptual framework and contribution value of this study is also addressed in this chapter. 1.1 Research Context This section presents the broad context within which this empirical investigation is undertaken. The current problems and significance of intangible assets in knowledge era are explained. Traditionally, profit and loss figures in the balance sheet and annual financial reports are used as the main financial performance indicators for the action previously taken monitoring and crafting short term strategies. Accounting for intangible assets starts with documenting the various categories of expenses. Profit (or loss) is derived from the financial difference between sales revenue and operating cost. The costs include the expenses in brand building, customer database, training, product development, information technology, etc. These are usually treated as part of the operating cost and marketing expenses. The investment of tangible assets such as equipment, machinery, building, etc. is also recorded in balance sheet. This simple accounting record mechanism is no longer sufficient in the knowledge based economy. There is no linkage with long term strategies to compete with global competitors and survive in dynamic economic. Since an increasing share of market value in this era is not represented by inventory or physical assets. Investments in intangible assets are usually not documented in a proper systematic manner because of data non-availability. Consequently, reasonable estimates of the future performance potential of an organization could not be provided to the management. It is intriguing to note that the cause-effect relationships between marketing, production and human resource and financial performance have not so far been made operational. Prior to the knowledge era, business lived in the world of tangibles, which worked well with the traditional accounting practices. However, things are different in todays world of intangibles. Modern management style and strategic crafting have adapted in response to global competition and volatile economic environment. The industrial age management has been replaced by the knowledge age leadership, with corresponding transformational effects on the economy and workplace (Figure 1.1). The focus on tangible assets in the industrial age has shifted to intangible assets in the knowledge age. This paradigm shift encourages organizational employees to utilize their knowledge in line with organizational goals. Globalization is the main driver of knowledge economy. Toffler (1990) proposed knowledge as the key success factor in the present competition. Knowledge can be transferred by information flow from manufacturers to customers. Organization knowledge could be frequently managed by well- organized people in organization. Knowledge and information technology form an important part of intangible assets. With the realization of this paradigm shift, issues concerning intangible assets are now more widely researched and practiced. Figure 1.1 The shift in management style from industrial age to the knowledge age Intangible assets are of increasing importance for the corporate value creation  processes of all kinds of organizations. In 1978, intangible assets were determined to constitute only 5% of all assets, while they become 78% of all assets today. Some 50 to 90 percent of the value created by a firm in todays economy is estimated to come from the management of the firms intellectual capital rather than from the use and production of material goods (Guthrie and Yongvanich, 2004). Some public and private sector organizations do not attempt to incorporate the value of intangible assets. Sonnier et al. (2007) examined 150 high technology companies and found that management may want to reduce the level of disclosure to conceal sensitive strategic information in order to maintain a competitive advantage. As such, management reporting and financial statements will become increasingly irrelevant as a tool supporting meaningful decision making. Forward-thinking management has to ensure that in tangible assets are identified, monitored, built and leveraged. Financial profit alone could not guarantee the long term survival of companies. To be sustainable, companies need to understand and be able to manage intangible factors, including organizational learning and growth, internal process and external structure. Management that aspires for sustainable business growth and industrial leadership in the twenty-first century has to focus on superior management skills and knowledge under limited resources. Augier and Teece (2005) and Johanson (2005) reported that human capital, knowledge and other intangible assets have emerged as key to business performance in the economic systems. The intangible assets are the competitive edge over competitors. Srivastava et al. (1998) suggested the framework linking market-based assets to shareholder value which could be considered as the subset of present study. The market investment in brand and customer-profile databases leads to cash flows via a combination of price and share premiums, faster market penetration, reduced distribution, sales and service costs, and increased loyalty and retention. Brands are economic assets which are to create value shareholders and develop competitive advantage (Doyle, 2001). During the last three decades, brand is widely recognized as playing the key role in business. Brands influence customer choice, but the influence varies depending on the market in which the brand operates. Ittner (2008) suggested several pre vious studies that provided at least some evidence that intangible asset measurement is associated with higher performance. Several previous studies are limited by over-reliance on perceptual satisfaction or outcome variables, inadequate controls for contingency factors, simple variables for capturing complex measurement practices, and the lack of data implementation practice. In this study, the Balanced Scorecard strategy map (Kaplan and Norton, 2004) is chosen to provide a framework to illustrate how strategy links intangible assets to value creating processes. The reasons for choosing Balanced Scorecard as the stage to build the framework for the present research are as follows: First, Balanced Scorecard is a practical approach to measure the intangible assets that has been widely used in a variety of organizations over the past two decades. Second, through the strategy map concept, Balanced Scorecard provides the linkage the relationship between intangible assets and business performance including the interrelationship between intangible assets elements: 1) Learning and growth affect internal process 2) Internal process affects external structure 3) External structure affects business performance. The measures in the four perspectives are linked together by cause-effect relationships. The company builds the core competence and training to support the i nternal process. The internal process creates and delivers the customer value proposition. When the customers are satisfied, the sales and profit are delivered in terms of financial performance which is the key measure of business performance. 1.2 Research Objectives Since developed economies have become knowledge-based and technology intensive, view of the firm has significantly changed and intangible assets have become fundamental determinants of value and control. There are three fundamental elements of intangible assets which are learning and growth, internal process and external structure (Sveiby, 1997; Kaplan and Norton, 2004). The ultimate goal of firm is to maximize the business performance (financial performance, sales performance and customer fulfillment). This study aims to establish empirically the cause-effect relationship between learning and growth, internal process, external structure and business performance, including the interrelationships between the elements leading to business performance. 1.3 Expected Contributions of the Study There are two key areas of expected outcomes of the study. First, the impact of intangible assets on business performance is expected to be empirically established. In particular, the cause-effect relationship between learning and growth, internal process and external structure would be identified and analyzed. This is so that the detail underlying the relationships can be implemented in practice. Second, it is expected that the effect of business size, business sector and establishment age on the causal links between intangible assets and business performance would be established. As there are various types of firms business (service and non-service), sizes of business (large and SME), establishment age in the industry, this study would provide the pattern of cause-effect relationships between intangible assets and business performance in each business characteristic. Given the expected outcomes, the expected academic contributions of the present study would be to encourage similar studies to establish the causal links between intangible assets and business performance in other types of economies. The study would also provide the foundation for the field of intangible asset management For business practitioners, top management will benefit from the understanding of cause-effect relationship and the realization of the importance of intangible assets (learning and growth, internal business process and external structure) and business performance. With the clearer understanding, proper budget allocation and intangible assets management will be more properly focused and controlled to increase sustainable competitive advantage. The intangible assets are the strategic key to a sustainable competitive advantage and future economic profit. 1.4 Conceptual Framework During last decade years, intangible assets are widely expanded and researched. The value of intangible assets is likely to grow over time if the firm undertakes successful intangible assets management. The intangible assets in each fundamental element (learning and growth, internal process and external structure) are selected and classified as shown in Table 1.1. More detail explanation is given in Chapter 2. Table 1.1 Framework of intangible assets indicators The cause-effect relationship is covered in strategic mapping (Kaplan and Norton, 2004). There have also been several studies, e.g. Huselid and Becker (1997), Hitt et al. (2001), Liu and Tsai (2007), that examined the relationship between learning and growth and business performance as explain in more detail in Chapter 2. The main hypotheses in the present study are shown in Figure 1.2. Figure 1.2 Research hypotheses testing model H1: Learning and Growth is positively related to Internal Process H2: Internal Process is positively related to External Structure H3: External Structure is positively related to Business Performance H4: Learning and Growth is positively related to Business Performance 1.5 Outline of Methodology The research hypotheses formulated in this study were tested in the mail survey or questionnaire of registered company at the Thai Chamber of Commerce. The initial step in the analysis of the data collected focuses on examining the frequency distribution and the mean and standard deviation for each item or variable considered in this research. The next step in data analysis is to assess the validity of measures. Here the study uses item-total correlation, confirmatory factor analysis and the Cronbach alpha coefficient. The initial data analysis, and reliability and correlation analyses are performed using the SPSS statistical package. Furthermore, the structural equation modeling (SEM) EQS program (Bentler, 1995) is used to perform the confirmatory factor analysis, discriminant validity tests and testing of the structural model. The entire step-by-step model fit process from data collection by field survey questionnaires is shown in Figure 1.3. More details of research methodology ar e provided in Chapter 3. 1.6 Structure of the Thesis The thesis is structured on the basis of five chapters, which represent the different stages that are involved in the overall research process. Chapter 1 has covered the research context, current problems, purpose and expected contribution of the studies. Chapter 2 provides an extensive review of definition of intangible assets, intangible assets value and the Balanced Scorecard strategic mapping. This detail provide support to conceptual model of the study and the set of research hypotheses of the study which links learning and growth, internal process and external structure to business performance through cause-effect relationship. Chapter 3 presents the step-by-step research methodology used to conduct the study. It illustrates a range of important methodological issues including the research design, sampling, questionnaire development process, data collection and measurement of model variables. The Structural Equation Modeling (SEM) technique is briefly explained. Chapter 4 provides results of validity testing of the constructs and hypotheses of the present study by using EQS program for SEM technique and Statistical Package for Social Science (SPSS) program. Not only the results of the main research hypotheses testing model, but also other possible models are explored. Chapter 5 presents a summary of the major findings and conclusions of the study. It also suggests the long-term strategic implications of the study finding for top management. Finally, consideration is given to the limitations of this empirical investigation and suggestions are made for potential directions and strategies for future research. Literature Review This chapter reviews the definition of intangible assets and its value. The previous correlation empirical research between intangible assets and performance are reviewed. 2.1 Introduction There have been a large number of studies in intangible assets during the last two decades (see Figure 2.1). Intangible assets are involved in the customers, external structure, human resources, and internal process. The intangible assets are defined as non-financial assets without physical substance that are held for use in the production or supply of goods or services or for rental to others, or for administrative purpose (Epstein and Mirza, 2005). Intangible asset is an accounting term, but intellectual capital is a noun used in the management field. They both refer to the same thing. Therefore, Edvinsson and Malone (1997) and Tseng and Goo (2005) pointed out that intangible assets and intellectual capital are synonyms. Intangible assets are identifiable and controlled by the enterprise as a result of past events, and from which future economic benefits are expected to flow. Figure 2.1 Research development on intangible assets 2.2 Intangible Asset Element Classification Several studies have variously attempted to categorize intangible assets as summarized in Table 2.1. Some categorizations are in more common use than others. Table 2.1 Approaches for the categorization of intangible assets The purpose model of the above intangible assets researchers is summarized by Bontis (2000) in Table 2.2. Table 2.2 Purpose of intangible model In Table 2.1 and Table 2.2, there are the intangible elements correspond in each study. Wingren (2004) proposed that framework the correspond to intangible assets framework presented by Sveiby (1997) and Kaplan and Norton (1992) in Figure 2.2. Wingren (2004) mentioned that the Balanced Scorecard is primarily tool for internal development and evaluating the market value of the company for long run. Bose and Thomas (2007) implemented the concept of Balanced Scorecard to a company and they claimed that the formulating of Balanced Scorecard fits the strategic interest of the organization to achieve sustainable competitive advantage. The Balanced Scorecard encapsulates the short and long-term strategies. The motivation and evaluation of employee to achieve goal in BSC is rather than using it just as a measuring tool. When intangible assets are addressed and defined, there are four practical approaches to measure the intangible assets (Luthy, 1998): 1. Direct Intellectual Capital Method (DIC) Estimate the value of intangible assets by identifying its various components. Once these components are identified, they can be directly evaluated, either individually or as an aggregated coefficient. 2. Market Capitalization Method (MCM) Calculate the difference between a companys market capitalization and its stockholders equity as the value of the intellectual capital or intangible assets. 3. Return on Asset Method (ROA) Average pre-tax earnings of a company for a period of time are divided by the average tangible assets of the company. The result is a company ROA that is then compared with its industry average. The difference is multiplied by the companys average tangible assets to calculate an average annual earning from the intangibles. Dividing the above value of average earnings by the companys average cost of capital or an interest rate once can provide an estimate of the value of its intangible assets or intellectual capital. 4. Balanced Scorecard Method (BSC) The various components of intangible assets or intellectual capitals are identified and indicated. Indices are generated and reported in scorecards or graphs. Wingren (2004) has chosen to use the BSC concept because BSC contains outcome measures and the performance driver of outcomes, linked together in cause-effect relationships. There are linkages between customer, internal process and learning/growth with financial performance. The financial performance is the outcome and visible to the observers. 2.3 Intangible Assets in Balanced Scorecard Among the above four approaches, the Balanced Scorecard is by far the most well-known, although its original intent was not meant to be the measure for intangible assets, as discussed by Marr and Adams (2004) and Mouritsen et al. (2005). The Balanced Scorecard may be used to measure all the intangible assets in Table 2.1. Bose and Thomas (2007) recently applied the Balanced Scorecard in an empirical study of the Foster Brewing Group. The formulating of a scorecard that best fits the strategic interest of the organization is considered vital. In their view, the Balanced Scorecard is never really complete because the business environment (new competitors, changing customer demand, etc.) is dynamic and constantly evolving. As is already well-known, the Balanced Scorecard was introduced by Kaplan and Norton (1992) as a tool to link financial performance with non-financial performance dimensions: learning and growth, internal process and customer perspectives. Linkages and relationships between customers, internal process and learning/growth with financial performance are shown in Figure 2.3. The Balanced Scorecard acts as a measurement system, a strategic management system, and a communication tool. Seggie et al. (2007) made an argument for the Balanced Scorecard to be the measurement tool in marketing to measure non-financial assets and provide the organization with a long-term perspective. The Balanced Scorecard is at least partially forward-looking and partially geared toward the long-term performance of the firm. The Balanced Scorecard concept has been examined the performance measurement of bonus plan in major financial services firm. Ittner et al. (2003) recommended that the future research on Bal anced Scorecard adoption and performance consequences must move to encompass the entire implementation process. . The concept of cause-effect relationship separates the Balanced Scorecard from other performance management systems. The measures appearing on the scorecard should be linked together in a series of cause-effect relationships to tell the organizations strategic story. Increasing promotional expenses will lead to the increase in brand value. Increased brand value will lead to higher sales revenue The investment of human capital will create the continuous learning and growth in the organization. When the employees have more experience and knowledge, they can create the internal process which serves and fulfills customer satisfaction. The profit and revenue are the final outcomes of this causal chain. Heskett et al. (1994) explained that the linkage of the above model that investment in employee training leads to improvement in service quality. Better service quality lead to higher customer satisfaction. Higher customer satisfaction leads to increased customer loyalty. Increased customer loyalty generates increased revenues and margins. The following are five principles of successful Balanced Scorecard users (Kaplan and Norton, 2004): 1. Mobilize change through executive leadership 2. Translate the strategy into operational term 3. Align the organization to the strategy 4. Make strategy everyones job 5. Make strategy a continual process Intangible assets can be considered very much part of the Balanced Scorecard. Intangible assets are linked mainly to the marketing and human resources. Following is the review of intangible assets in Balanced Scorecard by Kaplan and Norton (1992) and intangible asset monitored by Sveiby (1997) are reviewed. By using the categories developed by Hall (1993), Sveiby (1997), Shaikh (2004) and Roos et al. (1997) reviewed and classified the intangible assets into a framework of internal structure, external structure, and employee competence as shown in Table 2.3. Table 2.3 Framework of intellectual capital/ intangible assets indicators From the above table, the intangible assets are reviewed as follows. 1. Learning and Growth The learning and growth is the capacity of employee to act in a wide variety of situations. Employee is the most valuable asset of the company in the highly competitive market. It is the one asset that creates uniqueness to the company and differentiates the company from the competitors. Sveiby (1997) emphasized employee capability as a key asset for organization growth. Employee satisfaction refers primarily to job and what employees perceive as offerings. Employee satisfaction is positively related to organizational commitment. There are several studies mentioned that human resource is effect to business performance. Huselid (1999) and Hand (1998) have reported the existence of a positive and significant relationship between investments in human resources and the market value of companies. Huselid and Becker (1997) found that there is a strongly positive relationship between a high performance human resource systems and firm performance. Bontis et al. (2000) found that human capita l had positive effect on customer retention and loyalty regardless of industry type. Hitt et al. (2001) and Hurwitz et al. (2002) found that human capital has a positive effect on performance. Also, human capital is shown to have moderate cause-effect relationships with strategy and firm performance. Moon and Kym (2006) confirmed that human capital, structural capital and relational capital have direct impact on intellectual capital. Liu and Tsai (2007) surveyed 560 managers from major Taiwanese hi-tech companies and found that knowledge management has a positive effect on operating performance. Lin and Kuo(2007) also investigated that human resource management influences operational performance indirectly through organizational learning and knowledge management capability. Knowledge is one of learning and growth perspective. In knowledge era, the knowledge management has been widely studies. The knowledge is lost by the organization when the employees leave the firm (Ordonez de Pablos, 2004). McKeen et al.(2006) founded that knowledge management was positive significant to overall organization performance (product leadership, customer intimacy and operational excellence) which is part of internal and customer perspectives in Balanced Scorecard. Organization performance was significant to financial performance. There was no significant direct relationship between knowledge management and financial performance. The knowledge sharing is a key issue in order to enhance the innovation capability that is one of internal process (Saenz et al., 2009). There is also the linkage of learning and growth and internal process. Forcadell and Guadamillas (2002) studies a firm used knowledge management to develop a process of continuous innovation which is in the inter nal business process perspective. 2. Internal Process The internal process includes patents, concepts, models, information technology systems, administrative systems and organizational culture (Aaker, 1991). Such leading companies as GE, Sony, IBM, or Ford used to cover a wide variety of products, but after finding that they could not sustain all product lines, they switched to selective products, while improving the intangible factors, quality and innovation. Deng et al. (1999) suggested that patent attributes are statistically associated with stock return and market to book ratio. Research and Development is one of intangible assets which is the most importance performance. Chu et al. (2008) founded that the valuation of assets and long-term focused in operation of US ICs firms are higher than the firms in Taiwan. 3. External Structure The external structure includes relationship with customers and suppliers. The Balanced Scorecard is concerned only customer value proposition, but the external structure covers supplier. The external structure also encompasses brand-names, customer loyalty, customer satisfaction and the companys reputation or goodwill. In the brand valuation terminology, brand is a large bundle of trademarks and associated intellectual property rights. Cravens and Guilding (1999) reported that brand valuation is one of the most effective means for business to bring accounting and marketing closer for the purpose of strategic brand management and effective means of communication between marketing and accounting. A branded business valuation is based on a discounted cash flow analysis of future earnings for that business discounted at the appropriate cost of capital. The value of the brand business is made up of a number of tangible and intangible assets. There are 2 brand evaluation models 1) research-based approaches measure consumer behavior and attitudes that have an impact on the economic performance of brands. No financial value on brands is in this model 2) purely financially driven approaches.

A Psychoanalytic Reading of Mark Twains The Adventures of Huckleberry

A Psychoanalytic Reading of Huckleberry Finn   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Psychoanalytic conditions, stages and symptoms pervade the seemingly simplistic narration of a child-narrator, Huck Finn. Such Freudian psychoanalytic ideas as "Thanatos," "repressed desires" and how they seek their way back through dream work, through "parapraxis," can all find examples in this fiction. Besides, Lacanian concept of the unconscious as the "nucleus of our being," as "an orderly network," as well as his famous theory the "mirror stage" can be applied to this novel as a whole as well. Lacan states that the unconscious, the "kernel of our being," is "an orderly network," like the structure of a language (Barry 111-113); this statement can be found true in "The Adventures of Huckleberry Finn." In this particular picaresque of Huck*s adventures, episodes are ostensibly unrelated to each other just as most picaresque novels are. Huck Finn, however, in the unconscious of the text, follows a family pattern in which families come eventually to destruction. First take Huck*s six major lies for example. When Huck is in disguise, seeking information from Mrs. Loftus, he pretends to be a girl, Sarah Williams, whose mother is ill, and thus is on her way to get her uncle to come to help. Later, when his lie is discovered, he again invents a family in which both of his parents are dead and he is now a renegade apprentice. Next, in order to save the gang on the Walter Scott from drowning, Huck makes up a whole family including pap, mam, sis, and Uncle Hornbeck. Again, another fa mily with pap, mam, and Mary Ann is invented in order to save Jim from slavery. And when with Grangerfords, Huck identifies himself with George Jackson and tells of the decline of a relatively ... ...erefore explicates his final decision, justifies the ending of the novel. Works Cited Barry, Peter. Beginning Theory: an Introduction to Literary and Cultural Theory. Manchester: Manchester UP, 1995. Baym, Nina, et al., ed. The Norton Anthology of American Literature. 4th ed. New York: Norton, 1994. Bradley, Sculley et al., ed. Adventures of Huckleberry Finn: an Annotated Text, Backgrounds and Sources, Essays in Criticism. New York : Norton, 1962. Eliot, T. S. "Mark Twain*s Masterpiece." Huck Finn among the Critics: a Centennial Selection. Ed. M. Thomas Inge. Frederick, Md. : University Publications of America, 1985. Green, Keith, and Jill LeBihan. Critical Theory and Practice: a Coursebook. London: Routledge, 1996. Solomon, Eric. "The Search for Security." Bradley 436-443. Stone, Jr. Albert E. "Huckleberry Finn and the Modes of Escape." Bradley 444- 448.

hand tools :: essays research papers

Hand Tools and Devices Ergonomically oriented hand tool design: Maintain a straight wrist  Ã‚  Ã‚  Ã‚  Ã‚  Maintain a straight wrist   Ã‚  Ã‚  Ã‚  Ã‚  Bent Nose Pliers. Such tools permit grasping, cutting, or turning objects while the wrist remains in a relatively straight position.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Hammer With Deviated Handle. The slightly bent handle maintains a straight wrist during the final impact position. Maintain a straight wrist  Ã‚  Ã‚  Ã‚  Ã‚  Maintain a straight wrist   Ã‚  Ã‚  Ã‚  Ã‚  Soldering Iron. The perpendicular bend of the head permits application of heat to a distal object while avoiding deviation of the wrist.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Saws, Power Wrench, Knife. A perpendicular handle (pistol grip) maintains a straight wrist during cutting, sawing, or rotary operations such as drilling or nut tightening. Maintain a straight wrist  Ã‚  Ã‚  Ã‚  Ã‚  Provide an optimal grip span   Ã‚  Ã‚  Ã‚  Ã‚  Cylindrical Handle. A tool for rotary action on a horizontal work piece maintain the wrist in a straight position.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Excessive grip span does not allow optimal application of force and imposes undue stress upon the joints. Avoid tissue compression  Ã‚  Ã‚  Ã‚  Ã‚  Protect against heat, cold, vibration extremes   Ã‚  Ã‚  Ã‚  Ã‚  Excessively thin or short handles cause small surface areas which in turn cause excessive pressure on tissues, leading to loss of local circulation.  Ã‚  Ã‚  Ã‚  Ã‚  Circulation is also affected by other factors such as vibration and temperature extremes from the tool of from the immediate environment. Gloves and insulating materials are used as protective devices. Second handle  Ã‚  Ã‚  Ã‚  Ã‚  Expanding spring An additional handle for powered tools, located near the front end, helps support a heavy tool, resistance to excessive torque, and safe placement of the tool on to the work piece.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Expanding spring on handles opens handles without stressful operator effort. Thumb stop  Ã‚  Ã‚  Ã‚  Ã‚  Gloves   Ã‚  Ã‚  Ã‚  Ã‚  A thumb stop improves stability, increases thrust force, and avoids slippage.  Ã‚  Ã‚  Ã‚  Ã‚  Gloves may be unavoidably used in inclement circumstances. Compensations must be made, when gloves are used, for a diminished grip force, diminished manual dexterity, and increased bulkiness which requires large handle dimensions. General considerations  Ã‚  Ã‚  Ã‚  Ã‚  Loss of grip   Ã‚  Ã‚  Ã‚  Ã‚  The functional assignment of the hands. Hands, when used with a tool, may be classified into the holding hand and the assisting hand.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Dropped Tool. Power saw dropped on foot. Loss of grip  Ã‚  Ã‚  Ã‚  Ã‚  Loss of grip   Ã‚  Ã‚  Ã‚  Ã‚  Slipping Hazard. Hand slips on to unguarded surface.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Curved Knife Guard. Loss of grip  Ã‚  Ã‚  Ã‚  Ã‚  Loss of grip   Ã‚  Ã‚  Ã‚  Ã‚  Knife. Ring guard. Enclosure for one finger.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Knife. Handle guard. Enclosure for all fingers. Balanced power tool  Ã‚  Ã‚  Ã‚  Ã‚  Second handle   Ã‚  Ã‚  Ã‚  Ã‚  Handle located at center of gravity.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  A second handle near the front of a large tool allows added control. A second handle will also aid in resisting high torque forces. Crushing in between  Ã‚  Ã‚  Ã‚  Ã‚  Accidental activation   Ã‚  Ã‚  Ã‚  Ã‚  Handle Stops. Handle stops allowing at least 2.5 cm clearance prevent crushing fingers between handles.

Educational Policies of Nigeria and South Korea Essay

Education has been the corner stone of the success of every economy. In terms of those countries which have been colonized and have adopted a government that was highly repressive in nature, one could significantly argue that such would post an effect to how education was being delivered, the degree of excellence of the aforementioned, the demands of the market and the availability of jobs, and finally its effects to the economy. This paper focuses on the educational history and policies of Nigeria and South Korea in relation to the British military government of the Nigerians and the Japanese occupation and the American military government of the South Koreans. These policies and norms are then significantly related to their employment systems and its effect on their economy. The objectives of this essay are the following: 1. To establish a brief account of the educational policies and norms of Nigeria and South Korean and significantly identify its relationship to the military government. 2. To significantly identify the effects of the educational policies and norms in relation to the availability of jobs to the citizens and consequently the continuous demands of the market for such jobs; and finally 3. To know the effects of educational excellence, jobs availability and demands to the sustainable development of an economy. Review of Related Literature Education and Military Government in Nigeria One of the major constitutional changes that happened to the government of Nigeria was in 1953, a few years after the World War II. Such a change took effect through the London Conference attended by both Nigerian and Colonial officials which places the country under the rule of a Governor General, having the aforementioned the leader of the three principle regions of the country. Such a change of the name of positions was a way for the British regime to increase the autonomous powers of the country thereby making education vested at the local level, which is in accordance with the aim of unifying the region (Patterson, 1955, p. 94). Education, other than representation and taxation was one of the autonomous areas of governance that is designated to the central government. As such it is with this respect that the government had ordered that the youth of Nigeria regardless of any region should be given â€Å"sound and uniform standards of performance† (p. 95). The objective of this educational policy is to have the youth fully prepared on their primary and secondary education so as to enable them to take higher education both inside and outside of the country. Within the new constitution, 34 subjects or areas of concern were given to the federal government to oversee. In addition with this, 14 subject areas were also created and delegated to the federal government to be administered to individual regions. Consequently, it has also been perceived that the successful implementation of these subjects could only happen if the individuals administering these areas were competent enough, hence resulting to the very high standards were implemented by the government in terms of employee recruitment (p. 5). Such a drive for the development of skills for the Nigerian youth resulted to the perceived shortness in terms of trained senior administrators and other technicians for various government and technical posts for the country. The federal government perceived that the shortage could only be remedied through higher education and long experience of the youth. At the end of 1953, it has been perceived that 5,000 senior service positions were available in which 3,300 of them were taken by overseas personnels or the â€Å"expatriates†. Only 800 positions are given to Nigerians, and there were still 900 positions more that were vacant (World Bank, 1955, p. 23). The drive of the British Government to improve the education in Nigeria resulted to the establishment of a program for development for African Territories under the British Crown. The program which was called the Colonial Development and Welfare Schemes was inaugurated in 1945 in which required the British Government to contribute 23,000,000 pounds sterling for ten years that would enable the country to develop and another loan of 26-500,000 pounds sterling that would be used to fund a number of projects including education and other research facilities (Patterson, 1955, p. 97). The result of such an effort on the end of the British Government paved the way for a consuming ambition among young Nigerians to be associated with the Government and take a number of white collar jobs (p. 8). Technical Education in Nigeria Technical education is placed as one of the major projects of the Ten-Year Plan for Development and Welfare for the post-war Nigeria. Institutions that would cater to technical skills, trade, and handicrafts were created after the Second World War. For instance, the Technical Institute of Yaba, the first center that was created outside Lagos offered three full-time and two part-time programs and special short courses. These skills were those relating to junior and senior technical and also teacher training. For a four-year education, the country had been offering instructions in wood working, drafting, sub-professional engineering, commerce and printing to those students who have completed eight years of primary education and have already passed a special entrance examination. The senior technical course offered by the institute focused on courses in electrical, mathematical and civil engineering, architectural assistance and economics. Consequently, there were also teacher-training programs which offer a two-year course to prepare teachers for handicraft centers and secondary school craft courses (World Bank, 1955, p. 582-583). On the other hand, the Trade Centers at Yaba aimed to produce skilled craftsmen by offering courses which range from two to five years. The students primarily learned on an apprenticeship basis after which they have already familiarized themselves with the tools of the trade and have learned to do simple tasks; consequently academic instructions were given to the students averages one day every week. After the students have already gained the skills that are necessary, they were contacted by the trade center to go to large cities in order to work. Part of the educational system was also the refusal to accept new students until a new class graduates. As such, the intake and output for some courses happened only once in every five years. For the first five years of the operation of the Yaba Centre, there were only 85 students who had graduated while 18 were dismissed and 13 of them resigned (p. 84). The Weakness of the Nigerian Education One major weaknesses of the Nigerian education was the inclination to have all areas of the Government to have properly staffed and well-trained individuals; as such resulting in having schools to have its own standards and specializations and independence from other educational efforts. Such an act resulted at times to the replication of jobs or over specialization on some skills, which were often criticized to prevent holistic development. It has been argued by some scholars that schools that were operated by the departments of governments had the inclination to emphasize subjects that were too technical up to the extent of neglecting certain subjects such as English, Mathematics and the Social Sciences. As such, some students after graduating from departmental schools normally look for jobs that they believed will be necessary for their employment rather than their abilities and interests (Patterson, 1955, p. 7-98). In effect of this, the inclination towards education had been something that was relative to that of available employment. Outside the market, it had been perceived that education had no value and in the long run, had stimulated little demand to the public. It is with this respect that competition among available jobs had been perceived to be very keen wherein the colonial Nigeria has clustered to commercial areas within the region (Davis and Kalu-Nwiwu, 2001, p. 1). It could also be significantly noted that education for women during the post-war Nigeria had also been problematic as although there were already several domestic science centers that were established, very few of them remained in actual operation. As such, the education of women had been lagging in the country. The education that was provided to women were those solely with regard to food preparation, sewing, cleaning, general sanitation and elementary skills in nursing (World Bank, 1955, p. 588).

Corporate Ethics Failure †A Critical Analysis Essay

Arthur Andersen, in 1913 established a corporate entity that for decades provided a benchmark for auditing and consulting in the accounting industry. From the onset Mr. Andersen worked to build a foundation for his company representative of the principles of excellence in the technical and ethical aspects of his new company. His ethical model focused on Utilitarianism, the greatest amount of good for the greatest amount of people. In the late 1940’s after the founder passed away, newly appointed CEO, Senior Partner Leonard Spacek, further exhibited his leadership and commitment to ethical practices by helping to establish the Accounting Principles Board, their prinmary responsibilities being to set industry accounting and ethical standards. This is a direct reflection on the commitment Arthur Andersons executive staff place on the company’s belief in performing their practice in an honest and trustworthy manner. Spacek was so revered that former Federal Reserve Chairman Paul Volker once refered to as Spacek’s tenure as a time when Arther Andersen was the â€Å"Gold Standard â€Å" for the accounting industry. See more: how to write a critical analysis outline These standards built a reputation in the accounting community which led to tremendous success. Honesty and integrity were trademarks of the company that concentrated on quality, leadership and developing its personnel to be experts in every aspect of the accounting industry . As the business began to grow, Arthur Andersen eventually became a leader in the financial industry, employing as much as 77,000 accounting professionals in 84 countries. A reflection on the many positive aspects of Arthur Andersen, its commitment to the many ethical principles it championed, both in its own corporate structure and that of the accounting community. In this writers opinion, with such metrics in place, it is amazing that such a large entity could implode and collapse. However, if one understands the importance of ethical behavior and the impact of lost trust, the analysis is not difficult. The problems encountered at Arthur Anderson were the result of inappropriate ethical behavior which resulted from compromises of their own ethical standards. These began as small issues for various clients that over time grew creating a slippery slope from which Arthur Andersen could not recover. Corporate enterprises are funded by investors, stockholders and consumers. Likewise, their activities, both internal and external, also affect investor, stockholder, stakeholder and consumer. All depend on the financial health and viability of the company to support their individual interests. The responsibility of the SEC is to verify financial wellbeing and provide a tool for which potential investors and stock buyers can fairly judge the risks involved as they decide which company their money should support. Auditors share the responsibility the provide analysis of the the financial condition while looking for errors in the bookkeeping/ accounting of the company’s financial position. The auditor’s responsibility is to correct or balance any errors thus preventing a misleading view of the true financial strength of the company. If this view is compromised by providing or allowing false data to exist, the company’s position is weakened, investors are led under false pretenses, placing their investments at risk. The SEC depends on a complete, thorough and truthful analysis from an auditor to verify the financial status providing security for those desiring to invest or provide financial support. Arthur Andersen’s problems began precisely as mentioned earlier, when executives began to Behave unethically in a manner against the principles on which the company was founded. It is important to note that while Arthur Anderson employed good business ethics, the company flourished. As it began to compromise it’s integrity the long term consequences eventually to appear. The Enron collapse represents just one of many cases where mistakes were made and hidden. For Arther Andersen, in business almost 90 years, the destruction of Enron documents to prevent the SEC from gaining access to incriminating evidence shows how corrupt the accounting firm had become. While millions of dollars in revenue for Arthur Andersen were at stake, the viability of the company depended on the reputation it garnered. The demise of the company resulted from the dishonest tactics it employed to remain in power. As of June , 2002, the company had laid off 7,000 employees, and lost more that 650 of it’s 2,300 public audit clients with the layoff of thousands pending. The slippery slope to extinction had begun. http://money.cnn.com/2002/06/13/news/andersen_verdict/ In the article â€Å"12 Ethical Principles for Business Executives† by the Josephson Institute, published on December 17, 2010, stated that â€Å" language establishing standards or rules describing the kind of behavior an ethical person should and should not engage in, are ethical principles.† More specifically they are specified as â€Å"Honesty, Integrity, Promise keeping and Trusworthiness, Loyalty, Fairness, Concern for Others, Law Abiding, Commitment to Others, Leadership, Reputation, Morale and Accountability.† http://josephsoninstitute.org/business/blog/2010/12/12-ethical-principles-for-business-executives/ The founder, Arthur Andersen, embodied these principles to the point that he personally reimbursed a client for an accounting mistake made under his watch. While a disclaimer on the part of Arthur Andersen guards against minor mistakes in the accounting audit/ review, it seems this created a gray area that was taken advantage of. Also, management should have developed a zero tolerance mechanism to maintain an ethical culture dedicated to preventing inappropriate behavior. Policy should have mandated regularly documented training on business ethics, and the importance of its implementation as the auditing process ensued. Any issues should have been to the client with reconciliation mandantory prior to an Audit Opinion being submitted. The indictment of Arthur Andersen and subsequent trial provided proof the Audit Opinion and review of Enrons balance sheet and financial statements were submitted with the intention to skew the true condition of the company’s true fiscal condition, thus deceiving the shareholders, board of directors, potential investors and stakeholders. An overview of the measures in place to safeguard against inappropriate accounting behavior provide an insite to the items that were violated during Enron and Arthur Andersens quest to bilk investors share holders of millions. â€Å" These safety measures included Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), Statements on Auditing Standards (SAS), and all professional ethics. The use of GAAP by accountants is standard protocol. An accountant follows these principles as a matter of daily routine. According to several accounting texts, GAAP is identified as a â€Å"dynamic set of both broad and specific guidelines that companies should follow when measuring and reporting the information in their financial statements.†Ã¢â‚¬  http://faculty.mckendree.edu/scholars/2004/stinson.htm The article â€Å"7 Principles of Admirable Business Ethics† presents seven additional principles which complement ethical behavior. Those are â€Å"Be trustful, keep and open mind, meet obligations, have clear documents, become community involved, maintain accounting control and be respectful. http://sbinformation.about.com/od/bestpractices/a/businessethics.htm In conclusion, legal analyst’s formulate the opinion that â€Å"executives at Arthur Andersen and Enron did not set out to have a positive impact on the accounting industry or any industry. They set out to make as much money for themselves as quickly as possible. They were willing to do whatever it took to make that money. These thoughtless acts and greed led both companies to an eventual downfall in bankruptcy.† The subsequent prosecution of these firms has produced new controls which should serve to prevent this type of financial disaster. Most notably the Sarbanes-Oxley Act which includes requiring companies to reevaluate its internal audit procedures and makes sure the accounting practices either â€Å"meet or exceed the expectations of the auditors.† http://faculty.mckendree.edu/scholars/2004/stinson.htm Statement Regarding Professional Conduct: â€Å"This assignment is my own work. Any assistance I received in its preparation is acknowledged within the assignment in accordance wth academic practice. If I used data, ideas, words, diagrams, pictures, or other information from any source, I have cited the source(s). I understand that copying text word for word from other sources without placing it in quotation marks is considered plagiarism and not acceptable even if I cite the source where the material was copied from. I certify that this assignment was prepared specifically for this class and has not been submitted in whole or in part, to any other class at Walsh or elseware.†