Literacy: Mrs. Fleming Essay

There are few fundamental skills in life that are of greater importance than the ability to read and understand the written word. It can take a person of any background as far as they can dream. This is truly evident in the essay, â€Å"Superman and Me†, by Sherman Alexie which tells of the author’s struggle growing up poor on a Native American reservation in Washington State. From a young age, his literacy became Alexie’s saving grace, thanks to his father who inspired him to begin reading. This inspiration changed the path of his life. I, too, was inspired and encouraged at a young age to be a great reader by my Mother and a special teacher. I am thankful to my Mother for starting me on my path to literacy. I grew up in a house full of books, music and loud women. My Mom was never without a book in her hand, my middle sister loved to sing and write poetry and my oldest sister always had her eight tracks blaring. From the time that I was tiny, I wanted to be just like my Mother. She had beautiful hair, perfect makeup, and lovely flowing dresses. Since I was too young for these things, I latched on to something else that my mother loved; books. Alexie felt much the same way about his Father. Alexie writes, â€Å"My father loved books and since I loved my father with an aching devotion, I decided to love books as well† (89). My Mother and I spent many hours roaming the library aisles for our next great read. She encouraged me to try new authors and different genres. I discovered Judy Blume and even attempted Charles Dickens and Louisa Mae Alcott. My Mom challenged me each summer to read as many books as I could and she was always ready for me to tell her all about them. Mama and I still recommend books to one another and tell each other all about the characters that we meet in between the pages of our latest book. I was fortunate enough to have many fantastic teachers during my school years. One teacher In particular is my sixth grade teacher, Mrs. Elizabeth Fleming. I was a twelve year old girl that felt awkward and self-conscience and Mrs. Fleming always found a way to boost my self-confidence. She made  it a point to compliment me every day on anything from how I read aloud in class or what I was wearing or my hair style. Mrs. Fleming’s interest in me built up my self-esteem by leaps and bounds. We also bonded over our mutual love of books. Mrs. Fleming would take the time to ask about a book I was reading and recommend others that she thought I might like. She found ways to let me know that she loved that I was so excited about reading even if it was just a sweet smile that seemed like it was just for me. Mrs. Fleming made me feel special. As an adult, I have, on occasion, run in to Mrs. Fleming and even after all these years she still remembers me as her little bookworm. I am thankful to have had the support and encouragement throughout my life to keep me reading and learning. It continues today as I show my children how fun and entertaining it can be to read a good book I love to read with my girls and the sound of their voice reading on their own is like music to my ears. As I continue my education I hope that they can see through me that a love of reading can take you anywhere you want to go. So dream big†¦and go read a book!

Discipline: Training

This essay is to explain discipline to you and what it means to me and what it means to everyone. I will be covering discipline and what it means both definition and in my opinion. I will be giving three examples of both good and bad discipline. My examples of good shall include writing a long paper or essay and how it does take discipline, drive and determination to write and research. Soldiers like Special Forces and Rangers and the very hard training they go through, like selection or ranger selection. The time spent away from the ones we love during said training like AIT or basic training. Basic training consists of 10 weeks and AIT consists of 14 weeks. Selection and the Q course consists of almost 2 years. My examples of bad shall include people that quit because they want an easier way out, nothing in life that is worth it isn't easy. Rebellious teenagers that have to act out just because they think that they have a problem with authority and positive role models. People who are always getting in trouble is another example of bad discipline, rather they be getting in trouble because of lack of listening or just lack of caring, both lack discipline. This essay will then close with my conclusion on discipline. I will recap on the topics I have touched along with my final statements on it. A first good example about discipline is writing this essay. Discipline to take the time away from the 4 of July weekend to research and write this essay. The group have gotten in trouble for a few people that do not have discipline or follow rules, and the group got punished for it. The group know that the military believes in mass punishments because they believe disciplined soldiers will help undisciplined soldiers work on their discipline and military manners. But most of the time those undisciplined soldiers do not like to listen to other soldiers when trying to help them out or keep them in line. Some people might not write the essay but the few with discipline will write this essay and explained what discipline is. Discipline is a training to act in accordance with rules. Rules that us as US Army soldiers have to follow and maintain every day in our military career. Being in the military requires you to have discipline to be able to succeed in your military career. Soldiers like the ones in Ranger or Special Forces training require a lot of discipline to be able to succeed in their careers, to be able to succeed in all their training and make selection and the Q course. It is also that same discipline that brings those teams and individual soldiers home alive. Only soldiers with discipline are able to stay focus and succeed with the hard training they go through. I believe every single soldier going through BCT and AIT should look up to those soldiers going through all the hard training and their discipline. Just like the discipline that they have after having to leave our love ones for long periods of time to go through BCT and AIT. Some leaving their wives/husbands and kids to give them a better life and education. To show their kids that discipline is learn and earn at any age and any stage of your life. Some others to succeed in their personal career and continue with their education. To give their future families the best life or the life they weren’t able to have. It takes discipline to be able to be away and still be able to function with your military career. Examples of bad discipline include people that prefer to give up or quit because they think it is the easier way. How they think that by quitting you get out of anything faster and you won’t have to worry about it. They still don’t understand that being in the military it is not easy to just quit, it is not like any other job. You signed a contract with the government that willingly binds you to terms of service. After the government invest in your future the government expects you to fulfill your contract. We still have soldiers in this service that did not have the discipline to follow the rules and are stuck suffering though the corrective punishment until their contract is up or the government decides that the individual can not correct him or herself. Lack of discipline starts at home, some people do not have the necessary discipline before joining the military and since they believe they are adults they do not want to change or listen. Showing lack of discipline shows weakness within yourself, and that goes back to giving up and quitting. Just like rebellious teenagers are always getting in trouble because they feel like listening to authority is lame. People like that are the ones that when they join the military believe that they can get away with not listening or following rules because they have not been doing it back at home. Those same individuals are the same ones that are always getting in trouble and is because of them that just make everyone else life harder, and since they feel like they know better, they think that it is lright to keep acting the way they have been acting back at home. In conclusion, this essay has thoroughly discussed discipline and have expressed my opinion and my beliefs on the matter. This essay has given the definition along with a lot of examples. This essay has given three examples of good like the long training that soldiers have to go though and the discipline it takes to get there. The kind of discipline it takes to do something that does not come easy to all like writing this es say. This essay has also given three examples of bad discipline like people who quit because its easier. How some people have to cause trouble for others. The steps it takes from the day that were born and the others around us that raise us and teach us about being discipline make a huge difference in our lives, not just our lives but the lives around us too. It makes life easier for the whole. Being able to work together can turn a walk into a run during everyday projects and tasks. Working together takes discipline.

The US-led war in Iraq Essay Example | Topics and Well Written Essays - 750 words

The US-led war in Iraq - Essay Example Iraq had a devastated economy from 1980 to 1988 due to the internal war of the country. The country was made to be the largest military country in the region of Persian Gulf. The country was invaded by Kuwait in 1990 but the United States-led UN coalition forced them out in 1991. This led to social instability in the Kurdish side of the country where the Shia Muslims were against the government, which was led by Saddam Hussein. The government was forced to use force in order to suppress this rebellion. This led to a massacre where thousands of individuals were killed and a lot of property was damaged. The United States government and other superpower countries were forced to declare the country to be a no flying zone due to the instability of the region. The country was even sanctioned by the United Nations Security Council since the country refused to surrender their weapons so that they could be inspected. The country remained unstable from the 1900s to 2000s. The United States-led coalition invaded the country in 2003 after it was reported that the country had refused to be inspected by the United Nation. This led to the Iraq war between the United States and Iraq. Iraq’s dictator was overthrown in this war after the invasion had taken place. The country was left under the control of Coalition Provisional Authority (CPA) that handled the governmental affairs of the country, which later led to the formation of the government. The Iraqi interim Government took over after the CPA was disbanded in June 2004. The transitional government later took over after the election was held in January 2005 and in September the countries constitution was completed. December of the same year marked another election that initiated a four-year government, which took over power in March 2006, and was in accordance with the constitution. Even after the elections had been conducted in the country, there were still casers of instability and reports of violence across the country. This made the United States forces to be increas4ed in the region to calm the violence. The US started leaving the country in June 2009 after the two countries came up with a plan to ensure that the troops were out of the country’s urban areas (Jenkins, 57). The Iraqi war officially ended in December 2011 as majority of the US troops had left the country. The governance of Iraq changed after the invasion by the United States. This government is an establishment of the parliamentary democracy where it has branches of executives. The president is the chief of states and the prime minister is the head of government. The legislative branch of Iraq is has a unicameral council of representatives. The judicial branch of the country does not exist. However, the CIA Fact book implies that the judicial governance and management should start with Higher Judicial Council, which is followed by Federal Supreme Court Federal Court of

Descriptivism Essay Example | Topics and Well Written Essays - 750 words

Descriptivism - Essay Example Seriously, this is just too much and makes communication in any language unenjoyably at all. However, descriptivism is making this better by allowing users of the language to apply it in a context that fits them. For instance, courts, restaurants, interviews, and parties among others settings have a different way of communicating information, expressing feeling, or giving advice. Therefore, descriptivism conforms to the reality of changing times, generations, and endorse the fact that understanding each other using whichever language is the most important thing. The issue of native and nonnatives is a discriminative in nature in the world where globalization is taking root. The reality of globalization is making interaction between people from different regions of the world unavoidable. During interactions between people either for political, social, and economic purposes; the only way to achieve the objective of such cause is via use of a language comprehend by parties involved. Whi le this happens, the parties involved use either an exotic language or one that is native to one of them, or both. In this light, the most important thing is the sympathetic of each other using whichever appropriate language (Kachru Yamuna, and Cecil 703). Remarkably, descriptivism facilitates this since it does not bar nonnatives of a language from the benefits of globalization. Descriptivism dismisses the need to learn a language using formal setting such as classroom or by reading publication on the grammar of the language (Kachru Yamuna, and Cecil 711).

The Effect of Defendant SES on Decisions Made Research Paper

The Effect of Defendant SES on Decisions Made - Research Paper Example Group data was analyzed using T - test. Results did not show any significant difference (p> 0.05) deviated from the null hypothesis of equal chance at the level of significant 0.05. There is no significant difference between ratings of guilt, responsibility and length of sentences proposed by participants in the two groups. Many persons look to the court or judicial system for justice. In lands where common law legal system prevails, juries are part of the judicial process. Possibly, it is the 'single most defining feature' (Decaire, n.d.) of this kind of legal system. A jury, composed of average citizens, hears the evidence and determines guilt or innocence. Then, depending on the type of case, the judge may sentence the guilty parties. Over the last decades, however, exploratory evidence implies that the jury system has been infiltrated by prejudice. Decaire (n.d.) noted the following: In a perfect, just world, the jury system would provide a fair and elaborate procedure through which a defendant's potential guilt in the violation of criminal laws would be determined in an unbiased manner. However, empirical evidence suggests that this "fair and unbiased" procedure is failing. Baldwin and McConville (1979) found that as many as 5 percent of jury trials in England came up with disturbingly questionable convictions. And this conclusion is not limited to investigators, Kalven and Zeisal (1966) noted that judges and jurors disagreed regarding the verdicts in as many as 20 percent of cases. An ever growing body of evidence suggests that juries may be, both consciously and unconsciously, using a number of extra-evidential factors in order to come to their decisions. Several psychological studies gave evidence that "extra-evidential factors" such as race or ethnicity, halo and devil effect and socioeconomic status of the defendant can influence jury's decision processes. Race or Ethnicity The connection between race and jury decision making has raved great controversy in recent years (Sommers, 2007). Researches, however, do not have an exclusively consistent result on how defendant's race and jury's decisions are linked. Surprisingly, though, 'several studies in the past two decades reveal evidence of White juror bias against Black defendants' (Sommers & Ellsworth, 2003). For instance, statistical review of fourteen studies by Sweeney and Haney (1992 as quoted in Sommers & Ellsworth, 2003) showed that White mock jurors advocated Black defendants with longer sentences than White defendants. Halo and Devil Effect Affect heuristic, 'the subjective impressions of goodness/badness act as a heuristic - a source of fast, perceptual

Four pillars of a hyper-social organization Essay

Four pillars of a hyper-social organization - Essay Example The four pillars are based on the need to abandon concepts that were applicable in the previous marketplace, but can be harmful when held onto during hyper-social strategy development. Essentially, the theme of the four pillars theory is addition by subtraction, as the elimination of outdated beliefs will only help to strengthen the development of appropriate hyper-social business strategies. The four pillars approach states that four ideas need to be forgotten: market segmentation, company centricity, processes/hierarchies, and discrete information channels. Each of these previously integral guidelines have been compromised by the development of hyper-social societies. Market segments are no longer relevant as groups have become associated in non-traditional ways, such as due to ideological beliefs (Gaines & Mondak, 2009), that require the focus to shift from the behaviour of markets to the behaviour of people. Accordingly, the next pillar requires businesses to change their operations to be human-centric as opposed to the traditional company-centered structure. Lastly, information channels have become similarly irrelevant due to the vast availability of information through group resources, and structure in general has become unrealistic as a characteristic principle of socially-influenced

EFFECTIVE PROGRAMS FOR HISPANIC STUDENTS Essay Example | Topics and Well Written Essays - 7000 words

EFFECTIVE PROGRAMS FOR HISPANIC STUDENTS - Essay Example Ð s bilinguÐ °l students first intense encounter with the English lÐ °nguÐ °ge Ð °nd with Ð mericÐ °n culture Ð °nd society, schools must overcome sociÐ °l Ð °ttitudes opposed to the sociÐ °l Ð °nd Ð °cÐ °demic development of bilinguÐ °l leÐ °rners. Successful schools creÐ °te Ð ° productive Ð °cÐ °demic environment Ð °nd Ð °n Ð °ccepting community. Ð lthough schools cÐ °nnot chÐ °nge the sociÐ °l reÐ °lity, they cÐ °n creÐ °te Ð ° different society within their wÐ °lls. Getting to know the students Ð °nd their fÐ °milies Ð °s well Ð °s welcoming their lÐ °nguÐ °ges Ð °nd cultures cÐ °n build Ð ° coherent community where the bilinguÐ °l progrÐ °m becomes Ð °n integrÐ °l pÐ °rt of the school. Improvement of bilinguÐ °l progrÐ °ms necessitÐ °tes fundÐ °mentÐ °l chÐ °nges within the whole school becÐ °use the overÐ °ll quÐ °lity of the school will Ð °ffect the bilinguÐ °l progrÐ °m. For the most pÐ °rt, good bilinguÐ °l progrÐ °ms exist within good schools. To creÐ °te Ð ° sound context for bilinguÐ °l leÐ °rners schools should set cleÐ °r goÐ °ls, creÐ °te Ð ° bilinguÐ °l biculturÐ °l society, integrÐ °te the bilinguÐ °l progrÐ °m into the school community, know the bilinguÐ °l students, provide leÐ °dership Ð °nd support for the bilinguÐ °l progrÐ °m, set high expectÐ °tions for bilinguÐ °l students, hire quÐ °lity personnel willing Ð °nd prepÐ °red to work with bilinguÐ °l students, estÐ °blish productive pÐ °rtnerships with pÐ °rents Ð °nd communities of the bilinguÐ °l students. Commitment of principÐ °ls Ð °nd mÐ °instreÐ °m stÐ °ff to the progrÐ °m Ð °nd the students mÐ °kes it possible for bilinguÐ °l progrÐ °ms to be integrÐ °ted into the whole school. Ð ll stÐ °ff Ð °nd not only the bilinguÐ °l stÐ °ff should be responsible for the bilinguÐ °l students educÐ °tion. In turn, the bilinguÐ °l stÐ °ff should pÐ °rticipÐ °te in generÐ °l school Ð °ctivities Ð °nd decision mÐ °king. When curriculum improvement or speciÐ °l progrÐ °ms Ð °re introduced, the bilinguÐ °l progrÐ °m should Ð °lso be included. RegÐ °rdless of

Ethics Essay Example | Topics and Well Written Essays - 1250 words - 6

Ethics - Essay Example It is observed that an organization with a diverse workforce witnesses various ethical dilemmas and issues arising out of ethical values. This happens because the interest of the organizational and personal ethics is different from each other giving rise to potential conflict among employees and managers. Ethics can be termed as a moral principles or set of standard followed by an individual. Business ethics can be termed as a set of moral values and principles that help the business managers to arrive at unified conclusion. The impact of business ethics on managerial decision making is huge and has the potentiality of changing the course of decision making. It is observed that the influence of legal laws on the managerial decision making is huge and can have considerable amount of influence on the personal lives of an individual as well. Since, business activity is also regarded as a human activity the evaluation of business ethics would be done in a similar fashion. The importance of business ethics, personal ethics and legal influences on ethics would be covered in this study by the author. Situational Analysis The Enron Scandal In the year 2001 Enron Scandal had filed for bankruptcy and the collapse of the company was regarded as the biggest audit failure of all times. This occurred when the shareholders of the company had filed a suit against the company after the company’ share dropped from a double digit number to less than $1. The root cause of the sudden drop in the share price of the company confused the shareholders compelling them to file a suit against the company. It was observed that lack of systematic and clear organizational structure was the root cause behind the collapse of the company. The company failed to comply with business and legal ethical standards and there was a lack of moral standard among the employees of the organization. Outcome & Result The failure to provide a valid reason for the collapse of the Enron Corporation arous ed curiosity among investors and sparked controversy among competitors and investment banking analyst. The company management tried to solace the investors by claiming that it would hold an IPO separately for its internet department but ultimately the company filed for bankruptcy (Lashinsky, 2001). It was noted that various employees and managers were involved behind the collapse of the company. Lack of implementation of an ethical and moral standard by the human resource department can pave the path for downfall of the company. Lack of financial, sustainability accounting disclosure and lack of proper organizational climate within the company were solely responsible for the scandalous act. The US government had immediately enacted the Sarbanes-Oxley Act in response to this particular incident in the year 2002 which aimed at primarily promoting transparent and accurate auditing among public accounting companies (Peavler, 2013).This federal law has set new accounting standards for US A public accounting companies, corporate directors and corporate management to enhance the corporate practices. Practical Application of Ethical Theories & Morals The above mentioned incident is a conglomeration of the egoism theory; psychological and enlightened egoism. Enlightened egoism focuses on the fact that individuals should treat each

Scholarly paper related to observation and evaluation of Nursing Essay

Scholarly paper related to observation and evaluation of Nursing manager role - Essay Example According to Egner (2009), every institutional leader has the responsibility to solve individual problems through a dynamic utilization of personnel. His duty is to develop and maintain a culture that encourages work. As a result, the leader has to utilize more than only the functions of management. He or she should show concern for production as well as people. In a clinic, organization, planning, controlling, and directing are the main functions of the manager. Quality work is crucial for the patients’ well-being and the medical practitioners have to be experienced and well conversant in their job descriptions. Planning involves the selection of programs, projects, or objectives appropriate for the type of organization. Furthermore, it also involves the procedures and policies for accomplishing them. Lutz (2010), on the other hand, states that planning should always come before the action. This then has to be combined with employee motivation and training so that they realiz e the organization’s target goals, including the mission and vision. The manager also has to overcome resource and political barriers. This goes together with being keen on identifying any deviations from the plan and doing the necessary planning for correcting the problem. Consequently, it is important to note that these management functions are not only for the top manager, but also for all leaders in the clinic. The managing director should however act as the head of all subordinate leaders. Organization of clinical personnel occurs chiefly to achieve maximum coordination. This ensures efficient synchronization of staff, equipment, materials, methods, and timing. The customers in a clinic are mainly patients who have to be directed from one room to another and efficient coordination will always result to customer satisfaction and minimum chaos. Furthermore, Lutz (2010) states that well defined and logical organizations encourage savings in efforts and energy and minimize f rustration. As a management function, organization entails the designation of specific duties to certain personnel and departments. It also defines their functions and specifies the links between personnel and departments. In a clinical setting, diagrams, operating guides, and tables promote coordination of the staff, departments, and customers. However, it is difficult to keep them up to date and they give subtle coordination in fast growing, expanding, and dynamic enterprises. Another major cause of failure is delegation if authority to subordinates. A good delegator gives the ideas of subordinates a chance, allows the staff to make mistakes and learn from them, gives other subordinates the power to make decisions, and formulates an effective transfer of information over subordinates. Behavioral leadership theory focuses on analyzing behaviors or actions that describe a style of leadership. With this aspect, leaders are required to work with a specific category of style that relie s on their methods and actions used to fulfill the goals (Egner, 2009). However, the choice of suitable leadership criteria relies on the values and objectives of the individual making the evaluation, but different individuals have diverse values. Thus, the best approach is to include several criteria when researching on leadership effectiveness. Egner (2009) recommends four criteria for leadership effectiveness. They include individual leader effectiveness, follower job fulfillment,

Theories of development and how they have ifluenced current practice Essay

Theories of development and how they have ifluenced current practice - Essay Example These theories include: Behavioral Theories Cognitive Theories Psychoanalytical Theories Humanist Theories Personality Theories Operant Conditioning Theories Below there is a little discussion on some of these theories and there’s impact on the current practices of psychology. Psychoanalytical Theory: This theory implies the efforts of psychoanalysts who work according to this theory, major researchers whose work is significant in this theory include Sigmund Freud, Melanie Klein and Jacques Lacan, and others include fanon and Althusser. At large these theories address cultures rather than individuals. These analysts usually observe the communities and analyze the factors and the cultural diversities which are affecting these communities. At times, the patient is not willing to share the information with the psychologist so in that case, further treatment can be restrained so psychologist should come to the level of transference with the patient which is a condition in which pa tient starts to take the service provider as one of his family member so the therapist should minimize the gap between resistance and the transference as it will help him to resolve the problem of the client. Sigmund Freud was the first renowned person in the field of psychoanalysis, most of his theories appeared unacceptable at the start of the19th century but now most of these theories are accepted worldwide in psychology. Before his time even, there were therapist who believed in unconscious mental activity but he was the pioneer who clearly explained the importance of unconscious mental activity. He was of the view that both abnormal as well as normal behavior was controlled by unconscious activity and the past events of the patient affect the present behavior of the client. At the beginning, his ideas faced criticism but he firmly believed in those ideas and now a days, his ideology forms the basis of psychoanalysis. Most of the psychoanalysts believe that psychoanalysis is the most significant parameter which can give an insight of the human mind and by having the knowledge of oneself; patients can relieve themselves from their illnesses and can built strong human relationships. Nowadays psychoanalysis is useful in following practices It is a technique which is used to train the professionals. It is a scientific method which is used as a tool for critical appreciation which can be useful in studying the individuals as well as their life’s scenarios. It is the main theory in the clinical psychology. It can be a part of therapeutic intervention for the management of neurosis. This theory laid the foundation of the thought that one should be open to accept new techniques and principles in the field of psychology. Cognitive Theory: Cognitive theory basically stands on the concept of perception, according to cognitive theory; human thoughts are the determinant of human emotions as well as behavior thus affecting the personality in the end. Most of the followers of this school of thought are of the view that if there are no thoughts then there would be neither any emotions nor any behavioral implications so thoughts can be considered as a building block of any emotional process. This theory acquired attention in the 80’s and 90’s and since then a lot of literature has been written on this principle emphasizing the need to modify

Deloneys view of age Essay Example for Free

Deloneys view of age Essay The word ‘age’ is also paired with the adjective ‘crabbed’, however the word ’youth’ is not attached to any word and seems almost completely separate. Youth seems quite isolated from the word ‘age’ and could represent how nowadays parents and children are quite segregated from each other. As well as the word being isolated, it seems to be independent, as it is not relying on an adjective to describe itself. Following onto the point of where I had written that parents and children are isolated from one another, this is clearly demonstrated to us in ‘Romeo and Juliet’, throughout the play, as well as in ‘crabbed age and youth’, when it is written that they ‘cannot live together’. The isolation between a parent and child, can be expressed due to the fact that these two humans are both from different generations, and have been brought up to have different opinions, or in some cases, completely contrasting opinions and as a consequence have little or nothing in common. For example in ‘Follower’ we are not informed of any similarities between the father and son, however the fact that the verb stumble appears twice and that both the father and the son have experienced it, suggests that this is the only thing of which they have in common. Another example is in ‘Romeo and Juliet’ where we see at the beginning of the play Capulet displaying a willingness to become a better parent as he attempts to understand Juliet’s thoughts and emotions by saying to Paris that Juliet is too â€Å"ripe to be a bride†. This portrays to us a parent who is willing to change their own opinion in a matter. in the Elizabethan era it was considered normal for a 14 year old to be married and expecting children, which is made clear to us when Paris says to Capulet ‘younger than she (Juliet) are happy mothers made’, to which Capulet answers by saying that young mothers are ‘too soon marr’d’. By defending his and his daughter’s actions, shows him to be a protective father. There is no doubt that along the path of parenthood there will be clashes between a parent and child, of which the child or parent feels that they ‘cannot live together’, due to different factors, the most prominent of which is a severe clash of opinions. We know not to take the line ‘cannot live together’ literally, because Deloney is talking about the two opinions of the youth and the old and how they are so severely differentiated, almost contradictory. I translate this stanza to mean that the two opinions are so contradictory that neither can win the argument. I can refer this to the poem ‘Catrin’, in which Gillian Clarke talks about a ‘red rope of love’ which represents the bond that a parent and child have. To demonstrate how contradictory these 2 opinions are, Deloney offers us a variety of antithesis, such as â€Å"Youth like summer†¦ Age like winter†, â€Å"Youth is hot†¦ Age is Cold†. The roles in this parent child relationship are clear to us; Capulet even tells us that he thinks of Juliet as a ‘whining mammet’. A mammet is a puppet, and so obviously a puppet needs a puppeteer, and due to how Capulet acts in this scene, it is evident that he is the puppeteer. This hierarchy of a parent and child is also shown in ‘Follower’, when Heaney describes his father to be a ‘full sail strung’ and that ‘horses strained at his clicking tongue’. By saying that even ‘horses strained at his clicking tongue’ shows how much power and authority his father had; he had to do such little, to get the horses to do a lot of work. The fact that an animal listens to him, demonstrates just how powerful he is. Deloney also thinks that age and youth are completely opposite by saying ‘age like winter weather; Youth like summer brave’. By using two completely opposite seasons of the year, Deloney is also pointing out that parents and children are also completely opposite. For example it is hot in summer and cold in winter, it cannot be hot in winter and cold in summer, however when we get too hot, we wish for it to be cooler and when we are cold, we wish for it to be hot. Similarly, when we are old we desire to be young, and when we are young we wish to be older or you could say when children are in need of parents, they may not be here, but that when they are here, you do not need them vice versa. If we were to interpret this to fit the role of a parent child relationship then we would say that when as children we become older and our parents eventually die, suddenly we seem to miss them immensely. So by using antithesis, the poet is basically telling us that once a parent or child is deceased, we learn how much we appreciated them. I feel it is a shame that we only realise things like this once it has been taken from us. This is shown in Romeo and Juliet when Capulet discovers that his daughter has apparently died from depression, he feels overwhelmed and his true feelings for Juliet are revealed as he says ‘with my child are my joys buried’, however when she was alive (in act 3 scene 5), he did not seem to care if she were to ‘die in the streets’.

Plant Growing Lamp Presentation Essay Example for Free

Plant Growing Lamp Presentation Essay Good morning, everybody. Thank you for coming to my short presentation today. Let me introduce myself first. I’m Chris Wong, a medical assistant of Willis Health Centre. I’m very glad today to present to you our team’s proposed product, Dino, a plant growing lamp. My presentation will be covered into three parts. I’ll, first of all, introduce to you the background information about our environment. Next, I’ll explain our proposed product, Dino. Finally, I’ll outline some problems that our team concerned about. Afterwards, there will be a question and answer session. Right, let me start with the background about our environment. In fewer years, do you feel the weather is unexpected? Do you think this is terrible? Do you know why? Let me talk you. Nowadays, human do lots of things to damage our environment is caused the bigger problem, global warming. That why the weather is unexpected. They use lots to things to release the greenhouse gas. It is global issue because the effects are very important. That why we developed this plant growing lamp. Fine, I’ll now explain our proposed Dino. To start with, let’s look at the aesthetic value. This lamp can come with different pattern and color. Most important is it will have some seed inside the lamp. You can choose the pattern and color to match your home design and your home will be more modern. After the plant grows up, it also can offer fresh air. You will have a wonderful environment in the house because it can be a pretty decoration. Now, let’s turn to the user’s needs. The lamp has deep penetrating infrared light. Do you feel tired after a whole working? It can help you to relief pain and stimulate blood circulation. You feel more relax after using Dino. It really can bring you a health benefits. So much for the user’s need and the aesthetic. Let’s now look at the benefits for our company image. As you know, our company directions are focusing on health and environment. I think the health benefits of the user are already to promote our images. For the environment, the lamp is using a bio-degradable material. It is less damaged to our environment and it is very eco-friendly since Dino is also using the recyclable material.

Study On The Financial Sources For SMEs

Study On The Financial Sources For SMEs Introduction SMEs are those industries, which are unquoted in a stock exchange, run by few individuals or a type of family businesses having connection with shareholders. According to South West Venture Fund, SME is a company or business that has less than 250 employees and has an annual turnover not exceeding approximately  £24 million. SME sector is very large in UK economy. There are 3.7 million businesses in UK according to the survey conducted in 2003 by Department of Trade and Industries (DTI) and 99% of those are small and medium sized and survey also suggested that UK gains 50% of its total turnover from SME sector. On the other hand according to the report of HM Treasury 2008 there are 4.7 million SMEs in the UK and are responsible for more than 52 per cent of total UK business turnover. Therefore it can be seen that SMEs have an important role to play to drive UK growth and the average productivity of SMEs has increased in the last ten years. On the other hand SMEs are struggling in accessing to finance whereas there are many sources of finance available in UK. The main problem with SMEs to obtain finance is that of uncertainty. Investors most of the time dont rely on SMEs in investing because SMEs does not have a long track record of success. Banks are quite nerves of SMEs to investment because SMEs represent high credit risk. The problem is, banks are not increasing the loan amount without increasing security given and most of the SME owners are unable to provide security. There are many SMEs without tangible assets to use as a security for all lenders. All the financial sources for SMEs are listed below with brief description. Business Angles Business angles are private individuals who invest their own assets in SME or start-up businesses. Business angles also share their personal business experience with other entrepreneurs. LBA (London Business Angles) provides great services to innovative starting-up businesses who seeks the capital more than  £100 k for their future growth. London Business Angle runs by Greater London Enterprise (GLE). The main reason behind investing by business angles is that they are very experienced and successful entrepreneurs and they not only provide finance they also train new business through sharing their experience. The fact on the other hand is only few companies can find business angles, LBA receive 1000 business plan and after the whole selection procedure only 42 business have been invited to invest with. Another group of business angles BBAA (British Business Angles Association) is also working to provide financial help to early stage businesses. Every year private individual or these business angles invest between  £800 million to  £1 billion in starting-up business and SMEs. Overdraft Financing Overdraft financing is another most popular way of accessing to finance for SMEs. In overdraft financing, payments are made from the current account of business when the amount exceeds the available balance. Through the overdraft facility business gets short-term funds whereas the amount which is loaned is repayable according to the bank demand. There are some benefits of overdraft facilities such as the borrowed amount can be changed within the limit and interest is only payable on the amount borrowed. The main disadvantages of overdrafts are, bank can ask to pay back the money very sooner than expected time, overdraft limit can be changed at any time by the bank, overdraft facility cannot be used if large amount is needed and the interest rate is higher than the bank loan. Some other factors must be considered when using overdraft facility to obtain finance. Such as the amount that is borrowed should not go beyond the given or agreed limit, interest also differs according to the am ount borrowed and the interest rate is higher than the bank base rate , sometime bank can charge the overdraft fee and finally overdraft cannot be obtained for long term. One more difficulty for SMEs to obtain finance through overdraft is SMEs can be asked to provide some kind of security depending on the size of overdraft facility. Security may be of any type for an example it can be tangible fixed assets or personal guarantees given by company directors. Venture Capital Venture capital provides long-term, committed share capital, to help unquoted companies grow and succeed. If an entrepreneur is looking to start-up, expand, buy-into a business, buy-out a business in which he works, turnaround or revitalise a company, venture capital could help do this. Obtaining venture capital is substantially different from raising debt or a loan from a lender. Lenders have a legal right to interest on a loan and repayment of the capital, irrespective of the success or failure of a business . Venture capital is invested in exchange for an equity stake in the business. As a shareholder, the venture capitalists return is dependent on the growth and profitability of the business. This return is generally earned when the venture capitalist exits by selling its shareholding when the business is sold to another owner. Venture capital in the UK originated in the late 18th century, when entrepreneurs found wealthy individuals to back their projects on an ad hoc basis. This informal method of financing became an industry in the late 1970s and early 1980s when a number of venture capital firms were founded. There are now over 100 active venture capital firms in the UK, which provide several billion pounds each year to unquoted companies mostly located in the UK. REVIEW OF LITERATURE Introduction It being any country, small and medium enterprises has become an integral part of it and provides remarkable contribution to its economy. SMEs play a pivotal role in job creation and in progress of country. Like UK, many countries now understand the importance of small business and started to diversify it for job creation and also for the long term development of the countrys economy. . SMEs constitute the majority of economies around the world, these highly contribute in private sector and one of which seems to be growing in folds with time. According to the reports of Bank of England (2003), approximately 54% of the total value is added by small and medium firms in the UK. In fact, in some sectors SMEs have contributed more than larger firms Entrepreneur and Entrepreneurship The word entrepreneur has been defined numerous times by the researchers in their research. There is no specific definition of entrepreneurship but there is a generally accepted definition which highlights its significant contribution in the growth of economy. An entrepreneur has the ability to provide momentum for the change, innovation in the traditional strategies and approach. They always try to introduce new ideas in the business market. Entrepreneur is someone who can gauge the financial risk during the business startup and has the ability to capitalize the opportunity of benefit of an enterprise. Besides, various researchers have determined different characteristics of an entrepreneur. For instance, according to Adler, 2002; Aldrich, 1989; Alstete, 2003; Anderson et al, 1992; Anna et al, 1999, an entrepreneur is very creative, skilful, innovative and always keen to explore new ideas and strategies. While, according to others the traits are Hunger for achievement Desire of total control Need of independence and leadership Low traditionalism Risk taker Dominance Moreover, Yonekura in 1984 suggested the characteristics like assertiveness, insistence, forward looking, critical thinking, creative, innovative, broad minded, creative etc. On the other hand, Burk (2002) proposed that optimistic, hard working and desire to achieve are the qualities which are common in entrepreneurs. There are various reasons for people to choose entrepreneurship and start their own business. This area has also been widely researched (Walker, 2004). Result of most of the studies done in this area show that people are motivated by personal and financial reasons like achievement need, independence, and the creation of wealth (Bird, 1989; Birley and Westhead, 1994; Burns, 1996; Hisrich, 1986; Kuratko et al., 1997). Generally, most of the studies suggest that personal internal reasons are more important motivations as compared to financial reasons in going into entrepreneurship (Gray, 1993). Despite of the above mentioned reasons, his/her present job situation also plays an important part and can influence them for business adoption. According to the Moore and Buttner (1997), unfavorable conditions experienced within the organization, for instance- lack of opportunities and less salary may also push them to start their own business. Furthermore, people who are jobless are also sometimes forced to become entrepreneurs (Still and Guerin, 1991), even though the clarity of the entry of business and its form are not that clear to them at the start (Praag, 2003; Vodopivec, 1998; Walker, 2004; Walker and Brown, 2004; Burke et al., 2002; Burns, 1996; Buttner Moore, 1997; - Process Involved in Business Start up Over the period of time remarkable changes have taken place in the work environment and culture of small and medium enterprises. The failure or the success of any organization depends upon the initial or the kick off stage of the business. The start up of any business activity depends upon the manner or the way in which the business makes arrangements or provisions of funds. The growth of the firm is the most important aspect and has to be done with taking care so that it can grow up to its full potential (Carter et. al., 1996; Carter Anderson, 2001; Carter Cannon, 1988; Chaganti Parasuraman, 1996; Cliff, 1998). Steps involved in the start up of any business activity can be classified as under:- Business Start up:- The theoretical aspects behind the set up or start up of any business are quite different from the practical ones which can be classified as under:- The creation of an idea Theory:- The start-up of the business by the entrepreneur begins with the setting of an idea. Idea is the stepping stone on which the business relies and most of the aspects of the business are considered in the initial idea itself. There are pros and corns to everything and in the business set-up the setting of idea itself leads to the same. Opportunity Recognition The recognition of the right opportunity at the right point in time is what the entrepreneur must be able do. The task of recognizing opportunity for the same is not an easy task at all. There may be loads of opportunities which arise in the market like they may be in the form of a new product or service that has to be offered to the customer (Kotler, 1972; Deshpande, 1983). Research of the market and forming of the Business plan Research plays a key role before the starting up any activity and business also demands for the same i.e. to conduct research and then formulate a business plan. The key role in set up of any business plan is by carrying out SWOT analysis of the same which means to recognize the Strength Weakness Opportunities and Threats that the organization has to offer (Kotler, 1990; Dyer, 1994). Finance Arrangement Finance is the blood stream of any organization and without the induction of finance no organization can operate. There are loads of sources available for the firms both small and medium sized. Basically for the small and medium enterprises there are mainly two sources of finance internal and external. The basic difference between the internal and external source is the element of interest. Internal sources as the name suggest is from friends family and the saving element and external is all that which leads to the payment of interest basically borrowed funds from sources such as banks, financial institutions etc. (Feldman Bolino, 2000; Fielden et al., 2003; Fitzgerald and Muske, 2002; Leazar, 2002). The small and medium firms in the initial stage cannot afford to bear any additional cost and the interest element also becomes a burden for them and they are mostly concerned with the internal sources of finance i.e. the money invested in the firms by family and friends (Lee Mathews, 1999; Hisrich, 1986). The other aspect of business is the big business houses which have their operation on a large scale and the finance is procured by them from banks and other leading financial institutions. Optimum Use of Resources Resources are the tools and materials which form the crux of any organization and making a proper use of the same plays a very important role in the growth and overall development of the organization. It is vital to make the best possible use of resources as in small towns the scope of business activities is limited as compared to big cities wherein the opportunities as well as the resources required are more and readily available Gimeno, 1997; Gray, 1993; Gatewood et al., 1995; Gundry Welsch, 2001) Resources are portrayed as being distanced from main markets and main centres of business activity, have lower and more dispersed population, a weaker infrastructure, local markets are limited due to lower population. Despite the apparent difficulties in starting up and running a business to towns, the number of businesses has grownà ¢Ã¢â€š ¬?. (Anderson, 1997) Problems in Starting Up a Business When starting up a business, the owner is bound to face some problems. There are basic steps and procedures that should be followed by the entrepreneur, while starting a business. But the problem arises when the successful implementation of these steps becomes difficult, due to the problems in the market. Sometimes things do no happen in reality as they were expected and also it may take longer time than expected (Martins et al., 2002; Marschack, 1994; Morrison, 2000; Olson, 1992; Praag, 2003; Rainbird, 1991). Major problems in starting up a business can be classified as: Goodwill- When a business is new, it lacks good reputation in the market, which is called Goodwill. In business, it is very important to have goodwill. It means that the business has trustworthy image in the market. Sometimes, just because of lack of goodwill, customers dont trust the company (Reynolds, 2000; Robichaud et al., 2001). Market Prediction- It is essential for the entrepreneur to have the market predictions. The market trends keep on fluctuating. Thus the entrepreneur has to mould himself according to the market situations. If he does not maintain pace with the market trends it becomes very difficult to be in the race. This is not a very easy job (Robinson, 1994; Shane, 1995; Smith, 2000). Financial Gap- The existence of a financial gap arises because demand from small firms is greater than the willingness of financial institutions to supply the finance at current market conditions. For finance such as bank loans, these gaps may be termed as credit rationing (Stanworth Stanworth, 1997). Getting the premises in prime location- Getting a good location to set up the business is a very big issue. The entrepreneur should keep in mind to get the best location. If the location is good and is very close to all the available resources then he can grab the opportunities of using these resources (Taylor, 1980). Judging the customer expectations- It is very hard to match the ever changing expectation and demands of the customers. It is very difficult to have an exact idea about the choice of the customers. In this case it becomes very difficult for the new firms to have an idea about the customer expectations (Timmons et al., 1985). Small and Medium Enterprises in the United Kingdom Source: http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf. According to the department for business innovation and skills the profile of the small and medium scale enterprises are as follows: As per to the reports there were approximately 4.81 million private sector enterprises in the UK during the starting of 2008, which showed the increase of 104,0003 (2.2 per cent) since the start of 2007. These are the highest levels after the time series began in 1994. Approximately, 23.1 million people were employed by these enterprises with an estimated combined annual turnover of  £3,000 billion. Moreover, 99.9 percent of all enterprises were together accounts by the Small and medium-sized enterprises (SMEs) and 59.4 per cent of private sector employment and 50.1 percent of private sector turnover. Employment in SMEs is estimated at 13.7 million, 287,000 (2.1 per cent) higher than in 2007.Turnover in SMEs is estimated at  £1,500 billion,  £61 billion (4.2 per cent) higher than 2007.More industries experienced growth in the number of enterprises between the start of 2007 and the start of 2008, than experienced a fall. In percentage terms, the biggest increases were in the Mining and Quarrying; Electricity, Gas and Water Supply (19.3 per cent) and Financial Intermediation (10.2 per cent) sectors and the biggest falls in the number of enterprises were in the Manufacturing (- 6.9 per cent) and Other Community, Social and Personal Service Activities (-4.7per cent) sectors (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf).à ¢Ã¢â€š ¬? As such, out of the 4.81 million private enterprises in the United Kingdom, 99.9 percent are classified as small and medium scale enterprises (SMEs) and they are responsible for 59.4 percent of employment in the country as well as 50.1 percent of private sector turnover. The sector also experienced growth from 2007 to 2008 (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf). Most of these private enterprises are (see Table 1) small which is 99.3 percent of the total and they employ about 0 to 49 employees per enterprise while the medium enterprises is 0.6 percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. The large enterprises employs more than 250 employees per firm percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. ISSUES FOR SMEs AND ENTREPRENEURS According to Deakins and Freel (2003), small and medium sized firms do not easily get finance because of the restrictions imposed on them. Notably these SMEs have very less equity and very high risk is associated with them. As a result, most of the sources of finance are not accessible, for instance Stock Exchange. There are mainly two sources that entrepreneurs use that is Internal Source and External Source. Internal source includes personal equity, which are usually remortgages, savings and money taken from friends and family members. While external sources of finance comprises loan taken from bank, venture capitalist, formal investors. Few more sources include leasing, hire purchase and factoring. However, there are various sources of finance available for the SMEs; it is worth discussing the problems faced by the entrepreneurs and constraints of financing. Major issues for SMEs are Financial gap Getting finance from bank Role of security Credit scoring Financial Gap: It mainly occurs when the financial need of SMEs is not fulfilled by financial institutions because of the current market conditions the present situation (credit crunch) further adding problems to the same. It happens when the demand side of the curve exceeds the supply. However, it is still a debatable topic whether this gap is the result of information asymmetries or it is due to the reputational effects. Informational asymmetries are basically considered as the imperfect information provided to the financing institutions, which suggests that there will be insufficient funds available for the firms (Stiglits and Weiss, 1981). According to Shane and Cable (2008), it is likely that few firms specially manufacturing and technology based companies are often reluctant to give full information about their company to avoid the disclosure which can make it easier for others to use it. Moreover, there are few more categories which can face financial gap, such as young entrepreneurs and those who belong to remote areas. Young entrepreneurs mainly lack to provide the security, while for the entrepreneurs in the remote areas, it is quite difficult to get access with the banks (OCED, 2008) Getting finance from bank: However, banks are easily accessible; it is less likely that entrepreneurs get favourable offers from them. Short-term financing given by banks only looks theoretically attractive. Besides, banks also face issue in assessing the proposition from the borrower, which generally arises when both provider and borrower share different set of information. For banks, two main issues are: Adverse Selection Moral Hazard Adverse Selection: This arises when a bank is unable to assess a proposition correctly. For instance, when it refuses to provide for a proposition which could have been successful or when it accepts the position which results as failure. Moral Hazard: It causes more serious problem for banks and ultimately causes problems for the entrepreneurs having less/no security to offer. It can occur when a firm misuses the security-free financing from the banks, as there is no guarantee taken from the firm to repay the loan. This is a monitoring problem for banks and for comparatively smaller amount of loans; it is not economic to observe them closely. However, this creates problem for the entrepreneurs who lack sufficient equity and security. Role of security: This has now been widely used to overcome the shortcomings like moral hazard and adverse selection. However, bank officers can also choose to have frequent monitoring of the information to reduce the adverse selection, a cost minimisation approach (role of security) seems to be a better option. Furthermore, collateral seems to be a better option because it ensures commitment from the borrower and allows bank to make safer deal. It also enhances the chances of loss recovery in case of adverse selection. Credit Scoring:- Nowadays, this computerized technique has been widely used by banks. Credit scoring is based on considering various variables of the borrower such as, occupation, post code of home address, previous payment records and other commitments Taking all the above mentioned things into consideration, a computerized acceptance or rejection report is generated. Credit scoring has brought a remarkable reduction in decision making for the bank managers. In most of the leading banks of UK like NatWest, Barclays, Lloyds/TSB, Bank of Scotland, use different systems to measure credit of the loan applicant. Albeit, few above mentioned banks have adopted this technique completely, there are some banks still relying and using both methods (Credit scoring and decision making) However, credit scoring has proved to be a boon for the banks, it has some demerits as well. It only judges the applications on the basis of past records. This technique may reject the proposal which sounds beneficial and successful but dont have good credit history and past records. Study On The Financial Sources For SMEs Study On The Financial Sources For SMEs Introduction SMEs are those industries, which are unquoted in a stock exchange, run by few individuals or a type of family businesses having connection with shareholders. According to South West Venture Fund, SME is a company or business that has less than 250 employees and has an annual turnover not exceeding approximately  £24 million. SME sector is very large in UK economy. There are 3.7 million businesses in UK according to the survey conducted in 2003 by Department of Trade and Industries (DTI) and 99% of those are small and medium sized and survey also suggested that UK gains 50% of its total turnover from SME sector. On the other hand according to the report of HM Treasury 2008 there are 4.7 million SMEs in the UK and are responsible for more than 52 per cent of total UK business turnover. Therefore it can be seen that SMEs have an important role to play to drive UK growth and the average productivity of SMEs has increased in the last ten years. On the other hand SMEs are struggling in accessing to finance whereas there are many sources of finance available in UK. The main problem with SMEs to obtain finance is that of uncertainty. Investors most of the time dont rely on SMEs in investing because SMEs does not have a long track record of success. Banks are quite nerves of SMEs to investment because SMEs represent high credit risk. The problem is, banks are not increasing the loan amount without increasing security given and most of the SME owners are unable to provide security. There are many SMEs without tangible assets to use as a security for all lenders. All the financial sources for SMEs are listed below with brief description. Business Angles Business angles are private individuals who invest their own assets in SME or start-up businesses. Business angles also share their personal business experience with other entrepreneurs. LBA (London Business Angles) provides great services to innovative starting-up businesses who seeks the capital more than  £100 k for their future growth. London Business Angle runs by Greater London Enterprise (GLE). The main reason behind investing by business angles is that they are very experienced and successful entrepreneurs and they not only provide finance they also train new business through sharing their experience. The fact on the other hand is only few companies can find business angles, LBA receive 1000 business plan and after the whole selection procedure only 42 business have been invited to invest with. Another group of business angles BBAA (British Business Angles Association) is also working to provide financial help to early stage businesses. Every year private individual or these business angles invest between  £800 million to  £1 billion in starting-up business and SMEs. Overdraft Financing Overdraft financing is another most popular way of accessing to finance for SMEs. In overdraft financing, payments are made from the current account of business when the amount exceeds the available balance. Through the overdraft facility business gets short-term funds whereas the amount which is loaned is repayable according to the bank demand. There are some benefits of overdraft facilities such as the borrowed amount can be changed within the limit and interest is only payable on the amount borrowed. The main disadvantages of overdrafts are, bank can ask to pay back the money very sooner than expected time, overdraft limit can be changed at any time by the bank, overdraft facility cannot be used if large amount is needed and the interest rate is higher than the bank loan. Some other factors must be considered when using overdraft facility to obtain finance. Such as the amount that is borrowed should not go beyond the given or agreed limit, interest also differs according to the am ount borrowed and the interest rate is higher than the bank base rate , sometime bank can charge the overdraft fee and finally overdraft cannot be obtained for long term. One more difficulty for SMEs to obtain finance through overdraft is SMEs can be asked to provide some kind of security depending on the size of overdraft facility. Security may be of any type for an example it can be tangible fixed assets or personal guarantees given by company directors. Venture Capital Venture capital provides long-term, committed share capital, to help unquoted companies grow and succeed. If an entrepreneur is looking to start-up, expand, buy-into a business, buy-out a business in which he works, turnaround or revitalise a company, venture capital could help do this. Obtaining venture capital is substantially different from raising debt or a loan from a lender. Lenders have a legal right to interest on a loan and repayment of the capital, irrespective of the success or failure of a business . Venture capital is invested in exchange for an equity stake in the business. As a shareholder, the venture capitalists return is dependent on the growth and profitability of the business. This return is generally earned when the venture capitalist exits by selling its shareholding when the business is sold to another owner. Venture capital in the UK originated in the late 18th century, when entrepreneurs found wealthy individuals to back their projects on an ad hoc basis. This informal method of financing became an industry in the late 1970s and early 1980s when a number of venture capital firms were founded. There are now over 100 active venture capital firms in the UK, which provide several billion pounds each year to unquoted companies mostly located in the UK. REVIEW OF LITERATURE Introduction It being any country, small and medium enterprises has become an integral part of it and provides remarkable contribution to its economy. SMEs play a pivotal role in job creation and in progress of country. Like UK, many countries now understand the importance of small business and started to diversify it for job creation and also for the long term development of the countrys economy. . SMEs constitute the majority of economies around the world, these highly contribute in private sector and one of which seems to be growing in folds with time. According to the reports of Bank of England (2003), approximately 54% of the total value is added by small and medium firms in the UK. In fact, in some sectors SMEs have contributed more than larger firms Entrepreneur and Entrepreneurship The word entrepreneur has been defined numerous times by the researchers in their research. There is no specific definition of entrepreneurship but there is a generally accepted definition which highlights its significant contribution in the growth of economy. An entrepreneur has the ability to provide momentum for the change, innovation in the traditional strategies and approach. They always try to introduce new ideas in the business market. Entrepreneur is someone who can gauge the financial risk during the business startup and has the ability to capitalize the opportunity of benefit of an enterprise. Besides, various researchers have determined different characteristics of an entrepreneur. For instance, according to Adler, 2002; Aldrich, 1989; Alstete, 2003; Anderson et al, 1992; Anna et al, 1999, an entrepreneur is very creative, skilful, innovative and always keen to explore new ideas and strategies. While, according to others the traits are Hunger for achievement Desire of total control Need of independence and leadership Low traditionalism Risk taker Dominance Moreover, Yonekura in 1984 suggested the characteristics like assertiveness, insistence, forward looking, critical thinking, creative, innovative, broad minded, creative etc. On the other hand, Burk (2002) proposed that optimistic, hard working and desire to achieve are the qualities which are common in entrepreneurs. There are various reasons for people to choose entrepreneurship and start their own business. This area has also been widely researched (Walker, 2004). Result of most of the studies done in this area show that people are motivated by personal and financial reasons like achievement need, independence, and the creation of wealth (Bird, 1989; Birley and Westhead, 1994; Burns, 1996; Hisrich, 1986; Kuratko et al., 1997). Generally, most of the studies suggest that personal internal reasons are more important motivations as compared to financial reasons in going into entrepreneurship (Gray, 1993). Despite of the above mentioned reasons, his/her present job situation also plays an important part and can influence them for business adoption. According to the Moore and Buttner (1997), unfavorable conditions experienced within the organization, for instance- lack of opportunities and less salary may also push them to start their own business. Furthermore, people who are jobless are also sometimes forced to become entrepreneurs (Still and Guerin, 1991), even though the clarity of the entry of business and its form are not that clear to them at the start (Praag, 2003; Vodopivec, 1998; Walker, 2004; Walker and Brown, 2004; Burke et al., 2002; Burns, 1996; Buttner Moore, 1997; - Process Involved in Business Start up Over the period of time remarkable changes have taken place in the work environment and culture of small and medium enterprises. The failure or the success of any organization depends upon the initial or the kick off stage of the business. The start up of any business activity depends upon the manner or the way in which the business makes arrangements or provisions of funds. The growth of the firm is the most important aspect and has to be done with taking care so that it can grow up to its full potential (Carter et. al., 1996; Carter Anderson, 2001; Carter Cannon, 1988; Chaganti Parasuraman, 1996; Cliff, 1998). Steps involved in the start up of any business activity can be classified as under:- Business Start up:- The theoretical aspects behind the set up or start up of any business are quite different from the practical ones which can be classified as under:- The creation of an idea Theory:- The start-up of the business by the entrepreneur begins with the setting of an idea. Idea is the stepping stone on which the business relies and most of the aspects of the business are considered in the initial idea itself. There are pros and corns to everything and in the business set-up the setting of idea itself leads to the same. Opportunity Recognition The recognition of the right opportunity at the right point in time is what the entrepreneur must be able do. The task of recognizing opportunity for the same is not an easy task at all. There may be loads of opportunities which arise in the market like they may be in the form of a new product or service that has to be offered to the customer (Kotler, 1972; Deshpande, 1983). Research of the market and forming of the Business plan Research plays a key role before the starting up any activity and business also demands for the same i.e. to conduct research and then formulate a business plan. The key role in set up of any business plan is by carrying out SWOT analysis of the same which means to recognize the Strength Weakness Opportunities and Threats that the organization has to offer (Kotler, 1990; Dyer, 1994). Finance Arrangement Finance is the blood stream of any organization and without the induction of finance no organization can operate. There are loads of sources available for the firms both small and medium sized. Basically for the small and medium enterprises there are mainly two sources of finance internal and external. The basic difference between the internal and external source is the element of interest. Internal sources as the name suggest is from friends family and the saving element and external is all that which leads to the payment of interest basically borrowed funds from sources such as banks, financial institutions etc. (Feldman Bolino, 2000; Fielden et al., 2003; Fitzgerald and Muske, 2002; Leazar, 2002). The small and medium firms in the initial stage cannot afford to bear any additional cost and the interest element also becomes a burden for them and they are mostly concerned with the internal sources of finance i.e. the money invested in the firms by family and friends (Lee Mathews, 1999; Hisrich, 1986). The other aspect of business is the big business houses which have their operation on a large scale and the finance is procured by them from banks and other leading financial institutions. Optimum Use of Resources Resources are the tools and materials which form the crux of any organization and making a proper use of the same plays a very important role in the growth and overall development of the organization. It is vital to make the best possible use of resources as in small towns the scope of business activities is limited as compared to big cities wherein the opportunities as well as the resources required are more and readily available Gimeno, 1997; Gray, 1993; Gatewood et al., 1995; Gundry Welsch, 2001) Resources are portrayed as being distanced from main markets and main centres of business activity, have lower and more dispersed population, a weaker infrastructure, local markets are limited due to lower population. Despite the apparent difficulties in starting up and running a business to towns, the number of businesses has grownà ¢Ã¢â€š ¬?. (Anderson, 1997) Problems in Starting Up a Business When starting up a business, the owner is bound to face some problems. There are basic steps and procedures that should be followed by the entrepreneur, while starting a business. But the problem arises when the successful implementation of these steps becomes difficult, due to the problems in the market. Sometimes things do no happen in reality as they were expected and also it may take longer time than expected (Martins et al., 2002; Marschack, 1994; Morrison, 2000; Olson, 1992; Praag, 2003; Rainbird, 1991). Major problems in starting up a business can be classified as: Goodwill- When a business is new, it lacks good reputation in the market, which is called Goodwill. In business, it is very important to have goodwill. It means that the business has trustworthy image in the market. Sometimes, just because of lack of goodwill, customers dont trust the company (Reynolds, 2000; Robichaud et al., 2001). Market Prediction- It is essential for the entrepreneur to have the market predictions. The market trends keep on fluctuating. Thus the entrepreneur has to mould himself according to the market situations. If he does not maintain pace with the market trends it becomes very difficult to be in the race. This is not a very easy job (Robinson, 1994; Shane, 1995; Smith, 2000). Financial Gap- The existence of a financial gap arises because demand from small firms is greater than the willingness of financial institutions to supply the finance at current market conditions. For finance such as bank loans, these gaps may be termed as credit rationing (Stanworth Stanworth, 1997). Getting the premises in prime location- Getting a good location to set up the business is a very big issue. The entrepreneur should keep in mind to get the best location. If the location is good and is very close to all the available resources then he can grab the opportunities of using these resources (Taylor, 1980). Judging the customer expectations- It is very hard to match the ever changing expectation and demands of the customers. It is very difficult to have an exact idea about the choice of the customers. In this case it becomes very difficult for the new firms to have an idea about the customer expectations (Timmons et al., 1985). Small and Medium Enterprises in the United Kingdom Source: http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf. According to the department for business innovation and skills the profile of the small and medium scale enterprises are as follows: As per to the reports there were approximately 4.81 million private sector enterprises in the UK during the starting of 2008, which showed the increase of 104,0003 (2.2 per cent) since the start of 2007. These are the highest levels after the time series began in 1994. Approximately, 23.1 million people were employed by these enterprises with an estimated combined annual turnover of  £3,000 billion. Moreover, 99.9 percent of all enterprises were together accounts by the Small and medium-sized enterprises (SMEs) and 59.4 per cent of private sector employment and 50.1 percent of private sector turnover. Employment in SMEs is estimated at 13.7 million, 287,000 (2.1 per cent) higher than in 2007.Turnover in SMEs is estimated at  £1,500 billion,  £61 billion (4.2 per cent) higher than 2007.More industries experienced growth in the number of enterprises between the start of 2007 and the start of 2008, than experienced a fall. In percentage terms, the biggest increases were in the Mining and Quarrying; Electricity, Gas and Water Supply (19.3 per cent) and Financial Intermediation (10.2 per cent) sectors and the biggest falls in the number of enterprises were in the Manufacturing (- 6.9 per cent) and Other Community, Social and Personal Service Activities (-4.7per cent) sectors (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf).à ¢Ã¢â€š ¬? As such, out of the 4.81 million private enterprises in the United Kingdom, 99.9 percent are classified as small and medium scale enterprises (SMEs) and they are responsible for 59.4 percent of employment in the country as well as 50.1 percent of private sector turnover. The sector also experienced growth from 2007 to 2008 (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf). Most of these private enterprises are (see Table 1) small which is 99.3 percent of the total and they employ about 0 to 49 employees per enterprise while the medium enterprises is 0.6 percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. The large enterprises employs more than 250 employees per firm percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. ISSUES FOR SMEs AND ENTREPRENEURS According to Deakins and Freel (2003), small and medium sized firms do not easily get finance because of the restrictions imposed on them. Notably these SMEs have very less equity and very high risk is associated with them. As a result, most of the sources of finance are not accessible, for instance Stock Exchange. There are mainly two sources that entrepreneurs use that is Internal Source and External Source. Internal source includes personal equity, which are usually remortgages, savings and money taken from friends and family members. While external sources of finance comprises loan taken from bank, venture capitalist, formal investors. Few more sources include leasing, hire purchase and factoring. However, there are various sources of finance available for the SMEs; it is worth discussing the problems faced by the entrepreneurs and constraints of financing. Major issues for SMEs are Financial gap Getting finance from bank Role of security Credit scoring Financial Gap: It mainly occurs when the financial need of SMEs is not fulfilled by financial institutions because of the current market conditions the present situation (credit crunch) further adding problems to the same. It happens when the demand side of the curve exceeds the supply. However, it is still a debatable topic whether this gap is the result of information asymmetries or it is due to the reputational effects. Informational asymmetries are basically considered as the imperfect information provided to the financing institutions, which suggests that there will be insufficient funds available for the firms (Stiglits and Weiss, 1981). According to Shane and Cable (2008), it is likely that few firms specially manufacturing and technology based companies are often reluctant to give full information about their company to avoid the disclosure which can make it easier for others to use it. Moreover, there are few more categories which can face financial gap, such as young entrepreneurs and those who belong to remote areas. Young entrepreneurs mainly lack to provide the security, while for the entrepreneurs in the remote areas, it is quite difficult to get access with the banks (OCED, 2008) Getting finance from bank: However, banks are easily accessible; it is less likely that entrepreneurs get favourable offers from them. Short-term financing given by banks only looks theoretically attractive. Besides, banks also face issue in assessing the proposition from the borrower, which generally arises when both provider and borrower share different set of information. For banks, two main issues are: Adverse Selection Moral Hazard Adverse Selection: This arises when a bank is unable to assess a proposition correctly. For instance, when it refuses to provide for a proposition which could have been successful or when it accepts the position which results as failure. Moral Hazard: It causes more serious problem for banks and ultimately causes problems for the entrepreneurs having less/no security to offer. It can occur when a firm misuses the security-free financing from the banks, as there is no guarantee taken from the firm to repay the loan. This is a monitoring problem for banks and for comparatively smaller amount of loans; it is not economic to observe them closely. However, this creates problem for the entrepreneurs who lack sufficient equity and security. Role of security: This has now been widely used to overcome the shortcomings like moral hazard and adverse selection. However, bank officers can also choose to have frequent monitoring of the information to reduce the adverse selection, a cost minimisation approach (role of security) seems to be a better option. Furthermore, collateral seems to be a better option because it ensures commitment from the borrower and allows bank to make safer deal. It also enhances the chances of loss recovery in case of adverse selection. Credit Scoring:- Nowadays, this computerized technique has been widely used by banks. Credit scoring is based on considering various variables of the borrower such as, occupation, post code of home address, previous payment records and other commitments Taking all the above mentioned things into consideration, a computerized acceptance or rejection report is generated. Credit scoring has brought a remarkable reduction in decision making for the bank managers. In most of the leading banks of UK like NatWest, Barclays, Lloyds/TSB, Bank of Scotland, use different systems to measure credit of the loan applicant. Albeit, few above mentioned banks have adopted this technique completely, there are some banks still relying and using both methods (Credit scoring and decision making) However, credit scoring has proved to be a boon for the banks, it has some demerits as well. It only judges the applications on the basis of past records. This technique may reject the proposal which sounds beneficial and successful but dont have good credit history and past records.

College Admissions Essay: My Contribution to Disability Awareness :: College Admissions Essays

My Contribution to Disability Awareness It's 8 o'clock in the morning and the corridors of Mill Road Elementary are busier than Grand Central Station. The only difference is that Mill Road students are about a foot shorter and ten times more energetic than your average Grand Central Station commuter. In comparison with the dorm room I have just left, these walls are papered with hundreds of drawings and paintings. The hallways could compete with any modern gallery in terms of sheer bulk and some critics might argue for their content as well. However, I did not wake up at 7 o'clock to view the Mill Road Elementary prized art collection. Instead, I am there to present the 3-step Disabilities Awareness program to several classes of supercharged fifth graders. Standing in front of 30 or so fifth graders is a lonely position. I feel the burden of all teachers and start my presentation. It is a difficult curriculum to teach to fifth graders because of the many contradictions and situational circumstances. These fifth graders are sharp and ask questions whose answers could easily fill the rest of the year's class time. It is for this same reason that the presentation is such an enjoyable program. A ten-question quiz, designed to "pop" some of the myths about disabilities, is given to the students. The class discusses ideas about independence, differentiating between disabilities and emphasizing that the person comes before the disability. The quiz is an icebreaker that encourages the students to ask questions that pertain to the whole disabilities spectrum. Once the students begin to feel comfortable, I am flooded with questions. Students are able to expand their knowledge on a variety of disability-related issues. The real challenge is to help them change their perception of people with disabilities. Students have to be convinced that a disability is a limitation and every human has his or her own limitations. A disability is not a sickness someone can catch like a cold. When the students begin to see that we are all equal, then the Disabilities Awareness program has really done its job. The students are stubborn at first to new ideas but, after challenging them, they begin to see the truth behind these ideas and start accepting them. The second and third presentations are follow-up visits that seek to reinforce the same ideas presented in the first session using different activities.

The Statue Of Liberty Essay -- essays research papers

There are few objects that can be compared to the significance of the figure known as the Statue of Liberty. It is one of the greatest works of its time and still stands today as a meaningful entity of independence to the world. The statue is a great tribute to the concept of global freedom that had its roots in America. It was created to display the worldwide objective of peace and tranquility. The fact that another model of this icon stands today in a world capital shows the effect that this figure has inscribed upon the world. In addition, it represents the ideas that the United States was built upon and those that the people have lived by to this very day. Its most paramount features in its role through American history are its creation and history, the characteristics the statue possesses, and its symbolic relevance on the world. The creation of the statue was one of the most complex processes that she went through throughout her long life. The honor of the inception of the statue was given to Frederic Auguste Bartholdi, a French sculptor who specialized in the arts. Bartholdi acquired his success early in his life at the tender age of nineteen. He was often the subject of scorn and contempt by fellow artists, but never allowed himself to be put down by their petty insults. His true potential was indeed revealed through the creation of the statue. The statue was not a project without problems. It had a late start, considering that it was supposed to be completed in time for the one-hundredth birthday of the United States. A substantial number of delays also threatened the effectuation by the deadline. One of the more considerable problems was money. The Statue almost never lived to see New York harbor due to lack of fun... ...ction to this day was considered insignificant, as the entire country seemed to have lost their minds in anticipation for such an exciting event. Liberty was greeted with enthusiasm and exhilaration. The President himself had shown up for the joyous occasion. Congress had accepted the proposal to keep Liberty as a lighthouse and opened the treasury to New York. Many important people and dignitaries had turned up for the milestone moment. Furthermore, it was a distinguished historical occurrence, marking the 110th birthday since the signing of the Declaration of Independence. France was regarded as the United States? sister republic in the East. As President Grover Cleveland said to the people of America, ?Reflected thence and joined with answering rays, a steam of light shall pierce the darkness of ignorance and man?s oppression until Liberty enlightens the world.?

Comparing Thoreau’s Civil Disobedience and Kings Letter From a Birming

Comparing Thoreau’s Civil Disobedience and Martin Luther King's Letter From a Birmingham Jail The two essays, "Civil Disobedience," by Henry David Thoreau, and "Letter From a Birmingham Jail," by Martin Luther King, Jr., effectively illustrate the authors' opinions of justice. Each author has his main point; Thoreau, in dealing with justice as it relates to government, asks for "not at once no government, but at once a better government. King contends that "injustice anywhere is a threat to justice everywhere." Both essays offer a complete argument for justice, but, given the conditions, King's essay remains more effective, in that its persuasive techniques have more practical application. Both essays extensively implement both emotional and ethical appeal to give their respective ideas validity. One persuasive technique that each author implements to support his ideas emotionally is the use of biblical allusion. However, in comparison, King's use is stronger in that the tone of his allusions is more appealing to the reader. King's allusions cause the reader to want take action against injustice, whereas Thoreau's are darker -- more likely to make the reader want to submit to and accept the injustices portrayed. For example, King, in his first biblical allusion, manages to draw glory into his struggle by comparing himself with the Apostle Paul, feeling "compelled to carry the gospel of freedom beyond my particular home town," just as Paul "left his little village of Tarsus and carried the gospel of Jesus Christ to practically every hamlet and city in the Graeco-Roman world.. . ." This stirs admiration in the reader for King and adds relevance to his struggle. Later King discusses the history of his style of civil dis... ...ide: ". . .one does not remain inert to make way for the other, but both obey their own laws, and spring and grow and flourish as best they can, till one, perchance, overshadows and destroys the other." All three of these comparisons, while being beneficial to the essay's main idea, are too obscure and irrelevant to have any real persuasive power. Granted, both essays effectively implement both emotional and ethical appeal to the reader in order to be persuasive, and each, given the right conditions has the potential to be equally effective. But, given the conditions we are under, including the time frame, ("Civil Disobedience" was written over one hundred years before "Letter From a Birmingham Jail") King's essay, overall, features more of the characteristics, as well as the accessibility to produce a higher level of comprehension and relevance for the reader.

New Challenges in Retail Human Resource Management

Why Do We Need Professional Human Resource Management in Retailing? Such terms as globalization, process management, and value-based management dominate the current discussion of management in retail co mpanies. There has been an increasing realization that people are one of a company’s key assets. Re- tail means working and serving customers in a direct, personal way. This calls for special actions from retail companies to fulfill the demands of an increasing num- ber of well-informed and sophisticated consumers.In view of all the c hanges in both national and international contexts, it is ab solutely essential to get the right people if a business is to be successful and sustainable. Retailing is a major labor-intensive industry sector. The refore, companies are continually challenged to re-organize and adapt their st ructures to become more efficient. The necessity for part-time workers, because of long store opening hours and peaks in the trading day/week, requires a flexi ble framework to optimize labor processes. Emotionally, the workforce needs orientation and vi sion in changing times.Human resource management (HRM) has to provide a â€Å"coach,† not only to organize, but also to support employees and m anagement mentally and p rofes- sionally in fulfilling their tasks in terms of future company goals. People are the driving force behind all transactio ns that occur in retailing outlets. In the future world of retailing, there will be an increasing need to adapt and change towards a more formative and proactive style of HRM. M. Krafft and M. K. Mantrala (eds. ), Retailing in the 21st Century: Current and Future Trends , DOI 10. 007/978-3-540-72003-4_16, ? Springer-Verlag Berlin Heidelberg 2010 257 258 Julia Merkel, Paul Jackson, and Doreen Pick Changes Changes in Retail The formats of retailing have been evolving continuously over the last 100 years, and individual retailers have changed tremendously in the products they sell and in the man ner in which they operate. Retailing of lifestyle products impacts directly on the changing culture of our societies—one has only to think of the introduction of the Sony Walkman or the Apple I-Pod to grasp the international range of con- sumer needs.In order to provide an expanding product and service range, retail has had to alter and amend its approaches to satisfy ever more voracious and in- creasingly sophisticated consumers. For several years, retailers have had a promi- nent role in today’s society in their capacity as employers: the retail industry em- ploys one in nine of the UK workforce, for example (Gilbert 2003). Nearly two thirds of employees are female. Therefore, special concepts in HRM are require d to allow for the compatibility of work and family.Gilbert (2003) also points out that: â€Å"[T]he retail sector has had a reputation for not supporting its employees and for having lower pay and longer hours than other sectors. † Future HRM h as to find a practical ap proach that will lead to the right balance of companies’ and employees’ needs in terms of pay ment and hours for the workforce, and service guarantees for their customers. The developments in many European countries show the changing attitudes of young university graduates for whom retailing now provides modern and attractive career pro spects.However, retailing is still far from the first choice for top graduates and this needs to change. Environmental factors such as economic, social, political, cultural, and demo- graphic developments are driving the rapid changes in the retail business. Retail management and HRM departments have to be aware of all these changes. Some of the environmental factors are described below. New Forms of Trading New trading formats have been the lifeline allowing businesses to gain and sus- tain competitive advantage. New t rading form ats are constantly appearing at both ends of the spectrum.Higher margin goods, sometim es even with designer labels, have coexisted with the increasing demand for more aggressive pricing such as that app lied by hypermarkets, off-price retailers, and hard discounters. Often, consumers switch from smaller local stores to supermarkets, and increas- ing numbers of consumers are using new channels for Internet and TV shopping. The international press reports the continuing success of new fo rms of online retailing (e-tailing) in Europe and the USA, as well as rapid changes in Eastern Europe and Asia in use of the Internet.Within these trading formats, new pro- fessions, working careers, and functions are developing very fast. To succeed, HRM has to recognize and manage these changes in retailing human resource requirements. Exchange of knowledge is one of the basic prerequisites: For ex- New Challenges in Retail Human Resource Management 259 ample, the German retailer METRO Group is installing software that will allow knowledge shar ing with sy stematic tr ansfer of all n ecessary infor mation and skills to METRO Group sites throughout the world.It is imperative for a retailer to co llect and struct ure all exper ience and knowledge fro m d ifferent staffs, stores and country-markets. The challenge in the future for retail company man- agement i n general and HRM in particular will be t o ensure t hat th e right knowledge is available at the right time and in the right place. Consumer Behavior Closely aligned with the expansion of new trading formats are the changing needs of consumers.Increasing social acceptance of women in the labor force has led to the emergence of a new l ifestyle and changed consumer purchasing patterns over the last seve ral decades (Gilbert 2003). Present-day consumers are m ore experi- enced, more aware of their important role in the business, and more self-confident than previous generations. Further, as international retailers have found out, there is a great need for retail chains to adapt to ‘local’ ways, so as to fulfill regional needs and shopping habits, especially in the food business (e. g. , see c hapter by Mierdorf, Mantrala and Krafft in this book).Technology Let us consider what retailing looked like 20-30 years ago: little or no EPOS tech- nology, electro-mechanical tills, paper-driven accounting, checking and co mptom- eter systems, perhaps enhanced by a ‘Kim ball tag’ system to aid stock replenish- ment. Thirty years ago there were not even many supermarkets—self-service was just appearing over the horizon for some modern retailers in the 1960s and 1970s. The advent of increasing computerization in the late 1970s started to affect busi- nesses as they adapted to possibilities that began to open up through IT-supported working practices.Processes for controlling, distribution, payroll, accounting and, especially, merchandise management systems started to be aut omated during the early 1980s. E DI, scanning, and bar-coding were im plemented—after he avy IT investments—to lower costs and increase accuracy levels. Many organizations were downsized and refocused as these manual processes were converted to more cus- tomer-focused activities and professional supply chain management. Structural Trends and Competition In Europe and USA, retailing is characterized by increasing rates of market con- centration.This is caused by shareholders’ requirements for more cost-effective operations, mergers among suppliers, and the growth of technology. Future retail- ers have to be fast and flexible in making decisions about worldwide sourcing and selling. This calls fo r people to acquire skills and competencies that will allow them to compete successfully in both national and international contexts. Interna- 260 Julia Merkel, Paul Jackson, and Doreen Pick tional HRM has to consider different ways of working with people: in many Euro- pean countries, HRM departments have to cooperate with works councils, which influence companiesà ¢â‚¬â„¢ management thinking.HRM has the role of developing and defining human working processes fai rly an d prov iding for capability-oriented working conditions. Germany’s political debate about the consequences of capital- ism in 2005 shows the need for companies to act and communicate on the basis of consistent and balanced argumentation. HRM needs executives who are familiar with developments going on in a society, shifts in cultural values and behavior. To be competitive in global markets, many organizations reduce staffing levels and change to automated processes to lower costs.Beyo nd this, h owever, more pro- gressive ret ailers, s uch as Carrefour, M ETRO G roup and Wal-Mart, have ex – panded their offerings: they have i nvested heavily in new product ranges, new trading f ormats, and joint v entures, o r i n shapi ng an d spreading t heir bra nds. Merely cutting investments, e. g. , in the sales force, or opening stores around the world per se i s not enough to meet the demands of the new retail age. A clear strategy, stable and IT-supported processes, and correct allocation of financial and management resources are needed for international success the future. Globalization of SourcingSourcing from overseas vendors gathered momentum with the conclusion of trad- ing agreements with, for example, the Peop le’s Republic of China and grants of ‘favored nation’ status. Manufacturing’s importance has decreased enormously in most W estern countries since the em erging Asi an â€Å"t igers† a nd l ess expensive Eastern European manufacturers began to dominate the supply of goods, espe- cially, nonfood goods, to the industrialized countries. Consequently, in the West, distribution has become one of t he most promising sources of improved margins as new technology drives down the cost of logistics.However, with globalization of sourcing, it has become imperative to develop special strategies to enable the headqu arters workforce to be aware of international processes, markets, and com- petitors. Further, domestic retail companies anywhere have to also stay on top of emerging global trends. Companies that plan to enter new foreign markets have to carefully consider local cultures, religious values, and national laws in developing their new market entry strategies. All the developments mentioned above are stron gly interrelated.Retail man- agement and HRM have to jointly examine all these change s to m ake adequate and appropriate adaptations to organizational structures, systems, and processes. Changing Role of HR Departments HR departments—originally called payroll departments, then relabeled staff man- agement, followed by another m etamorphosis to personnel and then to human resource management—have been in the vanguard of change management in re- New Challenges in Retail Human Resource Management 261 tailing. Many companies have recognized that HRM is an essen tial componen t in achieving long-term success, and not just a means of recruiting workers.Areas such as the recruitment process, selection, induction, retention, performance moni- toring and evaluations, staff training, development and motivation. Decision mak- ing, and re-sourcing for expansion will continue to demand the professionalism of HRM workers. Personnel in different kinds of businesses have to adapt and change in response to emerging trends. The international HRM professional has to think globally, while rem aining ab le t o fu lfill lo cal asp irations. This i dea is based on Geert Hofstede’s theory of cultures. He turned the well-known slogan, â€Å"Think globally, act locally† into: â€Å"Act g lobally, think locally. A major task of th e international HRM professional is to provide expertise in terms of interpretations of the local laws and working practices, so as to offer practical steps for successful operation of the international retailer. Building the Future à ¢â‚¬â€œ HRM Challenges for Retailers Retailing means working in a g lobal con text but sim ultaneously adjusti ng to local needs. We describe below some international challenges to HRM in retail which are connected with national and local requirements. As mentioned above, major retail com panies have decided to invest globally to en sure greater po ten- tial for sustainable growth.Several ret ailers have identified internationalization as a huge oppor tunity for growth. In 2006, about 50 % of the METRO Group’s employees work ed ou tside Germany. Th e Am erican retail g iant Wal -Mart, France’s Carrefour, and United Kingdom’s Tesco are thr ee more organizations that are aggressively pursuing international expansion. This immediately gives rise to qu estions that require answers in every ar ea of operati on. An swering these questions is key to successful transformation of a national business model into an international one.HRM strategy builds on the business stra tegy of the firm. The HR persons in charge have to be b usiness partners for management, providing strategic and practical operational solutions in the form of HR concepts or staffing solutions based on thorough know ledge of the bu siness. Wal -Mart’s initial attempt at expansion in Germany failed—as did Marks and Spencer’s—because neither of these companies appreciated the nuances of German retail culture, underestimat- ing local competition and, especially, the price sensitivity of German customers.Carrefour’s for ays i nto the United Kingdom lik ewise end ed with a strategic retreat. As long ago as in 1989, Dawson stated that: â€Å"Retail is a response to cul- ture†Ã¢â‚¬â€and the HRM function plays a c rucial role in assisting corporate man- agement understand and adapt to local cultures. For example, UK consumers’ resistance to th e use of self- scanners p rovided b y some retailers to r educe queues at checkou ts might have be en anticipated by HR managers interacting with local employees. 262 Julia Merkel, Paul Jackson, and Doreen PickStrategic Tasks of HRM: Key strategic tasks of human resource management of an international retailer include: ? Assisting the retailer’s top managers who work well over 60 hours a week negotiating myriad complex issues in a competitive marketplace, cope with stress arising from quick changes, fierce competition, cost pressures, time management problems, and the need to make quick decisions. ? Keeping up to date with continuously developing technology and being able to optimize its usage so as to achieve the right balance between pro- ductivity gains and service gains.HR needs to find answers to the follow- ing question: How much technology can customers and the workforce han- dle in the store? ? Dealing with demography, e. g. , an aging workforce in Western Europe but predominantly young and inexperienced employees in other areas of the world, such as Asia and the M iddle East. Strategically, this poses one of the hardest challenges for HR professionals who are required to recruit and develop t alented st aff, offer t raining f or all age gr oups, ens ure a well- balanced age structure, and build up a working climate enabling employees of all ages to buy in and show suitable results. Cross-cultural recruiting and training: All cultures have their own unique practices and emphases, some of which are obvious while others are more subtle and harder to detect. HR departments need to be able not only to of- fer advice and professional preparation to local managers but also ensure that individuals appointed to these positions are aware of company policies as well as sensitive to the local culture. That is, in international settings, in- dividuals need both a common language and intercultural sensitivity. Identifying and retaining highly qualified, highly motivated individuals ready for international management appointments: The role of HRM is to prov ide an international assignment policy that takes into account individual prob- lems of expatriates, works around and supports family integration abroad. Operational Tasks of HRM: Some key HRM tasks that have to be fulfilled to enable the workforce to meet the needs of customers nationally and internationally include: ?Reshaping and r estructuring the workforce so as t o broaden their e xperi- ence by the acquisition of n ew skills: Developments like automatic stock replenishment, new methods of conducting transactions, and alterations to the way goods are displayed, have increased retailer employee training re- quirements. Also employees must learn to serve increasingly litigious con- sumers wh ile main taining h igh productivity wh ich is essen tial in h igh- volume, l ow-margin e nterprises.P rofessional human reso urce m anagers must train employees on how to balance these oft-conflicting demands for high staff-productivity and great customer service. New Challenges in Retail Hu man Resource Management 263 HR Challenges General Conditions ?Company Strategy ?Added Value Management ?Change Management ?Recruitment and Retention ?Employability and Lifelong Learning ?Corporate Governance ?Technology / IT Infrastructure Fig. 1. Challenges and General Conditions for HRM ? The critical resource of most businesses is no longer financial capital, but rather their employees (Barber, Strack 2005).Consequently, identifying and gathering the data for human capital valuation and assessment of the return on human resource investments is an important task for HR managers. ? HRM itself must develop, moving from being a ‘personnel’ department to its new role as a strategic business partner and building the basic structural foundation that will enable companies to organize and optimize their return on human resources. The emerging trends that persistently need HR attention currently include some of the areas discussed below.We m ake a di stinction between HR chal lenges and general conditions (Figure 1). In the case of HR challenges HRM has direct influ- ence, while general conditions are contingencies within which HRM has to oper- ate. This list is not exhaustive, but looks at some selected current trends and needs. Current HR Challenges ? Company Strategy. HRM has to adapt its entire program to the company’s overall vision and strategy. It is known that organizations with good human capital management generally create substantially more shareholder value than other companies.The significance of human capital is especially visi- ble in the case of a merger. The success of a merger depends much more on the competencies of the staff and m anagement than on other aspects, such as finance, IT, and production. Hax and Majluf (1991) feel that it is there- fore essential for well-planned practices and highly efficient HR functions to be aligned with the business of the company concerned. An HR strategy must be ‘com prehensive’ in the sense of addressing all the different per- sonnel and HR activities central to the long-term development of the firm’s businesses.HRM departments have to conceptualize and structure business 264 Julia Merkel, Paul Jackson, and Doreen Pick plans with detailed operations extending from the current to the future state of strategy, organization, and action. These must be based on the organiza- tion’s mission and common values. ? Added Value Management. This confronts HRM with the critical q uestion of what actions add m easurable value to the business. There is less cer- tainty about the central direction and more about committed management setting the right tone within the organization for defined values to flourish.Commitment in the form of personal engagement and belief in the organi- zation and its concepts is important. HRM has to support this by elaborat- ing concepts and criteria for their evaluation, some of which should be re- vised annually. The following behavioral aspects of the workforce should be included in the HRM concept: ? Personal Honesty and Integrity ? Self-Motivation and Entrepreneurial Style ? Ability to Communicate the Values and Benefits ? Encouraging Others to Want to Work with the Company and Share its Values; Pride in the Company Training and Developing, Coaching, and Mentoring ? Change Management. The most important drivers for change are globaliza- tion, technology, and a workforce that is in creasingly knowledge-based. Ulrich has stated that there is a need to redefine firms’ performance less in terms of cutting cost and more in terms of profitable growth (Ulrich 1997). Managers have to be able to make changes happen of their own volition and also to support the company in its drive for sustained success. Manag- ers have to be able to empower their own staff.Moss Kanter (1989) states that it is only through true empowerment that staff will really contribute to the changing needs of a busi ness, since they will then be doing things be- cause they understand them and for the right reasons, thinking and reflect- ing on the changes and t heir likely impact, and above all feeling at ease with the implementation of change. Change management recognizes the need to reflect on t he manager’s role in the management of cha nge, the identification of problems, and the ability to make changes in either a pro- grammed or a no nprogrammed manner.HRM has to take accoun t of the risks required for the achievement of change in the company. ? Recruitment and Retention. Employee recruitment and selection is one the most vital HR functions. However, the retail industry is faced with difficul- ties in attracting highly educated people. Nonetheless there is a po sitive trend for change. The challenge for HRM is to show the attractiveness of the retail sector a nd ensure that appropriate training and careers are avail- able, so that this sector can take a leading place in t he competition for availab le talent.Retail has recently been promoting opening up access to its workforce by declared rejection of discrimination on the grounds of gender New Challenges in Retail Human Resource Management 265 or race, and, lately, also by employing more elderly persons. It is also nec- essary to build up programs for part-time workers. The ability to value di- versity within the workforce is a strength, provided that this is backed up by continuous training and correctness. Many organizations run courses on this aspect, usually under the title of ‘Inc reasing Self-awareness,’ as t he ability to understand one’s impact on others is a powerful skill.Next, reten- tion focuses on the goal of keep well-performing staff in the company. This depends not only on interesting work, fair compensation, and a motivating climate and management culture, but also on transparent and achievable ca- reer paths combined with a supportive management that provides guidance. ? Employability and Continuing Education. This is a major area of challenge to most employers, but especially those who employ large numbers of staff, as retailers do. Staff have to take retraining in order to adapt to a constantly changing external environment.It is a question of mind-set, working envi- ronment, and attitude towards self-responsibility. The future will be charac- terized by the following needs, amongst others: ? The need to handle increasing complexity. ? The need f or co ntinual enh ancement of th e ma nagement skill sets known as ‘Life-Long Learning,’ i. e. the ability to adapt to changing en- vironments, challenges and technology. ? The need for a positive attitude to newly emerging opportunities: Manag- ers themselves have to become life-long learners.This is of particular im- portance to the changing generations. The process can be aimed, for ex- ample, at obtaining further business qualifications, such as an M BA, a marketing diploma, or HRM qualifications, or atte nding training courses on key skills, such as lead ership, or personal development workshops. Some universities are now of fering master’s degree courses on wor k- based learning in which projects are directly related to the learning envi- ronment of the individual s tudent’s workplace.Analysis of actual workproblems can be counted as a credit toward an MA o r an MSc. Classroom training fostering positive acceptance of new structures, top- ics, and technologies is necessary. ? The need to communicate regularly and precisely, and transmit meaning and values: While the company will provide support, it will be the indi- vidual managers who have to ‘drive’ their own learning and that of others in periods of intense change, often using technology such as video con- erencing or E-l earning/blended learning to pursue their studies. HRM needs to consult with managers on how best to use modern methods. ?The need for creative management: This can be the way to bring new insights into common view or to introduce new issues as an area for the HRM specialist to develop. Many managers are locked into their own reality or their own version of their world, allowing themselves to be trapped into a mind-set of either success or self-perpetuating failure. One 266 Julia Merkel, Paul Jackson, and Doreen Pick f the keys to successful business growth is for managers not to allow themselves to be trapped in a ‘psychic prison’ (Morgan 2001) of t heir own making, causing them always to see retail in one dimension only. Current General Conditions ? Corporate Governance. The recent case of Enron and the difficulties faced by retailers such as Sainsbury suggest that the governance of these organi- zations was grossly at fault in permitting the excessive amounts of power vested in their chief executive officers (CEOs).The nonexecutive directors seem to have abdicated their duties in not restraining the CEOs in their riskier schemes. Expansion, absolu te power, soaring costs, and misinterpre- tation of facts and figures appear to have gone unchecked and a tacit acqui- escence to have been entered into, presumably with the goal of presenting stakeholders with a picture that was m ore positive than the reality. As th e impact of the backlash is always difficult to predict, it is likely that HR di- rectors will become more closely involved in the careful examination of candidates’ integrity and suitability for high office.It is likely that this will slow t he decision-making process within t he board e nvironment, b ut i t might be a small price to pay for a more responsible environment acting in the best interests of all parties. HRM needs to motivate the entire staff of their company, to observe and evaluate the ‘political’ situation within the company, and to react in a n appropriate way that ca n influence the re- tailer’s level of success. HRM has the opportunity, and therefore the duty, to influence national and international codes of corporate governance. ? Technology/IT Infrastructure.In some of the ne w and emerging m arkets management has to decide whether to implement a total system with all branches totally aligned with the parent company. It can be prohibitively expensive for a branch at the periphery of the organization to lock into a global IT infrastructure that is geared to operations in Western countries where labor costs are very much higher. Retailers operating internationally rely on com mon platforms and IT structures; the decision to be m ade is when is the time right for investments? A major change in retailing in the future will be the worldwide use of RFID technologies.The success of the METRO Group in developing and running their â€Å"Future Store† in R heinberg as a tigh tly controlled experi- ment has ha d a strong impact on t he application of new technologies in ‘real business,’ since METRO Group has shared the results with industry and with its wholesalers, as well as its IT and logistics providers (see, e. g. , chapter by Kalyanam, Lal a nd Wolfram in this book). The scientific re- search involves customers’ reactions to the new shopping methods, and possibly also staff training in the use of intelligent technologies and intro- ductions to available information and changing processes for customers.New Challenges in Retail Human Resource Management 267 In conclusion, there has been, and continues to be, a great deal of activity sur- rounding staff appraisal. The management of progression, or performance moni- toring, continues to exercise HRM professionals, who wish it to be as fair as pos- sible to individuals, but also want the company to obtain maximum benefit from the exercise. While the strategy should be systematic, it also needs to be continu- ous, with a fully im plemented set of key me trics.A full look at each individual’s future, which can be a position as well as a set of personal go als, should be carried out at regu lar intervals. HRM professionals must ensure that line managers can perform this function. Next, we discuss approaches that address current HR challenges in retailing. HR Challenges General Conditions ?Company Strategy ?Added Value Management ?Change Management ?Recruitment and Retention ?Employability and Life-long Learning ?Corporate G overnance ?Technology/ IT Infrastructure Structure Motivation Fig. 2.Approaches to Challenges and General Conditions for HRM Approaches to HR Challenges in Retailing Practice Building up and Keeping Motivation As indicated in Figure 2, HRM has to en sure that the workforce is motivated and trained to satisfy consumers’ needs. Retailers have to develop the employee value proposition. This means an attractive position with the fulfillment of employee needs and expectations and achievement of a go od, unique image in terms of re- cruiting and keeping human capital. We list below some approaches to retaining an adequate sales force. HR quality cannot be assured without investment.Such investment has to be justified in economic terms and must therefore be constantly monitored: ? Planning the HR costs and expenditures for the annual business budget and forecasts ? Supplying key data needed for planning the workforce at all levels and providing benchmark data on key performance indicators, such as average working hours per store opening hour, turnover per w orking hour, profit per working hour 268 Julia Merkel, Paul Jackson, and Doreen Pick ? Elaboration of systems to measure the work involved in and results of HRM (training investment per employee, rate of internal job placements, etc. ? Providing common and communicated values of the com pany to give the workforce a strategic framework and common mind-set ? Creating a transparent internal job market ? Offering the staff a perspective for the future and clear career paths ? Flexible models of working times, such as part-time working concepts , an- nualized hours contracts, and balancing of profession and family with the aid of sabbaticals ?Ensuring adequate processes, tools, and budget to allow for members of the workforce to achieve their objectives and ambitions Continuing education of ex ecutives and employees within actual training programs and a corporate university ? Training the workforce in soft skills and mentoring to ensure proper align- ment of their values with the company’s values and beliefs ? Initiation of an employee suggestion/inquiry system to improve the process of cooperation ? Recruitment of talented graduates from exchange programs with universi- ties worldwide ? International education within internal exchange programs, with p artici- pants from different countries ? Apprenticeships and e ducations in new professions to build up t he best workforce Sharing company success with e mployees (incentive systems at all sta ff levels, based on parameters that are accessible to employees) ? Offerin g fringe benefits, such as discounts for shopping at the employer’s stores, company cars, equity programs, retirement arrangements, company nursery/kindergarten, and other social benefits. The Future of HRM and Final Remarks Most employees spend a substantial amount of time at work. Some people there- fore consider their job decisions on joining a retail company or some other indus- try in the cont ext of social environment.HRM has to kee p an eye on s uch con- straints, as the retail trade is anxious to attract the best employees. Future HRM will concentrate on supporting management and workforce and outsource admin- istrative tasks to contractors. In future, there will be more intensive collaboration New Challenges in Retail Human Resource Management 269 and networking with external parties. New professions in retail, such as that of IT specialist, are developing. HRM must also place greater emphasis on ethical work- ing conditions, safer working environments, and equal-opp ortunity policies (end- ing sex/age discrimination, inclusion of minorities, etc. . In any company, HRM has to build up trust and commitment among all persons working in that organiza- tion. Continued reliance on traditional processes is d efinitely no longer a recipe that pr omises much success. HR m anagement has t o a ssure fast a nd market- oriented actions that are appropriate to complex market situations. HRM will have to set priorities on the HR strategy and its realization, but will be viewed on the operational side more in the role of a serv ice center. In future, the issue of management development will gain even greater importance.To sum up, HRM has to be aligned with the business strategy of the company, to work in keeping with all of its corporate objectives, and to be prepared not only to help in implementing all changes necessary but also to instigate and be at the vanguard of change programs. Further, HRM should be aware of employee inter- ests within the organizatio n yet conscious of its place as the ‘power house’ when controversial business decisions, such as downsizing, have to be implemented. Lastly, it plays a key role in ensuring that constant retooling and retraining takes place in the operation to meet ever-evolving challenges.Life-long learning should be an integral part of any business, to enable it to respond to its rivals’ activities with fresh initiatives within the company. HRM specialists have to ensure the long-term performance of â€Å"their† retail or- ganizations. It is a big challenge for HRM to meet the future needs, and the task is wide ranging. How well HR managers perfo rm th eir fu nction will determin e whether a reta iler registers a sustainable success in the future. We have tried to show in this chapter the comprehensive and central role of HRM in retailing.Re- tail has been and will continue to be an exciting field of business throughout the world. The main function of the retail sector i s to wo rk with and for people all over the world, so that retail has the chance to give people interesting and fulfill- ing workplaces.References Barber, F. and Strack, R. (200 5): The Surp rising Economics of a â€Å"People Business†, in: Harvard Business Review June 2005, pp 81-90. Davies, G. (1999): The Evolution of Marks and Spencer. Service Industries Journal. 19, 3, 60-73. Dawson J. A. (2001): Strategy and opportunism in European retail internationalisation Brit- ish Journal of Management, 12, 253-266. Dawson, J. A. 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