Thursday, September 3, 2020

BUS 263 Essay Example | Topics and Well Written Essays - 750 words

Transport 263 - Essay Example As per the CPSC (Murray), there is an all out expense of up to $3,100 more than 15 years for a table saw whose unique expenses might be just $100 to $300. This cost considers (1) direct clinical expenses, yet more critically (2) legitimate expenses for the inescapable claims which surface over real injury. What isn't included in the expense is the legitimate cost brought about by the makers, regardless of whether they win the case. Before, Quik-Cut could contend in close to home injury cases that its clients were utilizing cutting edge innovation at their own hazard. Later on, the organization has less legitimate contentions. Regardless of whether it decides to offer the stop innovation at an extra value, there is a hazard that the jury would discover Quik-Cut obligated for not introducing the development on the entirety of its items. The leader of Quik-Cut has a decision at present: grasp the innovation and look for an upper hand for a while, or work with the remainder of the business to stonewall the development, in any event for a while. A third alternativeâ€design around itâ€may or may not work. Structure around It: The organization would build up its own innovation, yet that would require significant investment and maybe mastery that the organization doesn’t have. Moreover, if a contender acquainted the innovation earlier with Quik-Cut offering it for sale to the public, the organization may confront the equivalent legitimate problem it faces today. Stonewall the creation. This would necessitate that all the manufacturersâ€large and smallâ€hew to the business line. In the event that Quik-Cut and its rivals decided not to present the creation, they could build a case on specialized benefits representing why the innovation was not yet fit to be actualized. The two risks to this methodology are (1) there could be a later revelation technique as a piece of an item obligation claim that could uncover the industry’s

Saturday, August 22, 2020

Neurobiological Effects of Traumatic Brain Injury on At-Risk

Neurobiological Effects of Traumatic Brain Injury on At-Risk Neurobiological Effects of Traumatic Brain Injury on At-Risk Populations All through youthfulness, the cerebrum isn't full fledged. The development happens in Executive Functioning. Official working is your capacity to design, sort out, and to concede moment satisfaction. Its like the airport regulation focus of the mind (Executive Function Self-Regulation, 2015, p. 1. It assists with managing certain cerebrum errands to make preparations for incautious choices. It assists with seeing the 10,000 foot view so you can shape various theories. With official working, everythings not high contrast. In young people, this type of cerebrum working isn't full grown during that stage. The official elements of the mind are not full grown and complete until about the age of 25 (Understanding the Teen Brain , n.d., p. 1. Children can think coherently so when theyre fifteen and sixteen they truly realize how to think legitimately yet they dont settle on sensible choices. This is a result of the absence of arrangement inside the official capacity of the cerebrum. On the off chance that a high schooler is harmed during this phase of their formative years, it might be annihilating for them. This is on the grounds that it would change the manner in which they see their reality and their place in it. This could have genuine ramifications for a young person. Indeed, even a gentle mind injury or MBI. A post-blackout may take 2 years for a young person to recuperate. Be that as it may, a progressively moderate or serious physical issue my not be completely figured it out. This might be valid for an adolescent. A young person who has encountered a mind injury not have had past physical handicaps yet they realize that something has changed, something is distinctive about them. The immature stage brings its own arrangement of difficulties. Indeed, even a high schooler with no past physical or emotional wellness history needs to ponder a modification period. During this pre-adult phase of improvement, the teenager is attempting to discover what their identity is, the place they fit in and how to adapt to peer pressures. A young people objective at this phase of their youthful years is to discover what their identity is. Its difficult to envision at 16 years old or 17 how a mind injury can change your life definitely. As an adolescent, they have started to discover their place in school, their place with loved ones . They may wager considering school or a profession, what they need to do with their life and a physical issue of this extent totally transforms them, until the end of time. The injury changes the manner in which they think, the manner in which they respond, the manner in which they regularly would take a gander at a circumstance. In spite of the fact that they may not see completely, they realize that something is unique however may think that its hard to concede in light of the fact that they will likely fit in. They might be frantically attempting to discover what their identity is and battle with their new reality, one don t completely grasp. Some way, something has transformed you. They may arrive at a point where they dont even know who they are any longer.. Companions are acting distinctively towards them (be it genuine or envisioned), guardians respond diversely to them. Assignments that once finished easily with no issue or much however given to it, turns into a battle. Ideas and mechanics of ADLs become strenuous. Things that they could control previously, presently they cant. Dissatisfaction sets in and the youngster begins to carry on in manners they never would have. Circumstances they and undertakings once aced, turns into an errand. Their examination propensities have changed. They might not have needed to concentrate hard and tests may have been a breeze for them beforehand. Be that as it may, not currently. Words dont appear to bode well any more. The star competitor has deftness issues just as following complex plans from playbooks. Moderate Brain Injuries and Traumatic Brain Injuries ar e destroying for teenagers up to the age of 25 at this phase of their turn of events. Elements of the Lobes of the Brain The frontal projection the parietal flap the transient projection occipital and the cerebellum related with the frontal flap or different control they control sure of our practices and when is harmed that a specific results changes that are seen when there is a physical issue to frontal projection incorporate issues with sequencing, trouble settling on choices or perseveration. Somebody can encounter choices individuals experienced diminished consideration, changed character, critical thinking troubles, a decline in their capacity to verbally communicate. An absence of immediacy and wild feelings, social and sexual practices diminished commencement of willful developments. The progressions that we see when worldly flap is harmed is that individuals an issue understanding the expressed word. They have issues with specific consideration. There can likewise be sexuality changes. sexuality changes. An individual with a transient flap injury might be found to relentlessly talk. With a fle eting projection injury, there is an expansion in forceful conduct. They have issues perceiving faces, recognizing objects and arranging them. The parietal flap is a region of the mind that where there is a more elevated level of working. Injury to the parietal projection can cause trouble naming articles. There can be issues preparing their material sensations (the feeling of touch) and issues handling and understanding what their fingers are letting them know. A people scholastic range of abilities decreases because of a physical issue to this piece of the mind. Things that they were effectively ready to do in the working environment or in the scholarly setting from a subjective point of view are currently decreased or gone. Theres likewise disarray between the left and the right, lost deftness and a decline direction of where the body is from a spatial point of view. Harms to the occipital projection is the place issues of vision deserts, the loss of the visual field. One may likewise have issues outwardly finding objects. Critically, they may likewise have issues recognizing hues. They may likewise have contorted vision and even mind flights. They can likewise have what some call word visual deficiency. There is an extra test of the failure to see the manner in which items move. It would not be outlandish to interface issues with perusing and writing considering a physical issue of this extent. One may encounter a general easing back of our minds preparing visual data. Presently for the cerebellum, the territory situated in the back at the base of the mind and on the spinal segment. With the cerebellum, there are various things that are progressively similar to territories of claim to fame, things that our cerebellum accomplishes for us every single day. It controls the gross and fine engine coordination. At the point when we choose, we need to connect and snatch a container off the rack, we put our arm out and do it. That is the cerebellum in real life. We are adjusting our balance, the capacity to stand up and not fall over. The cerebellum enables us to have the option to ride a skateboard, bike or to go for a run down the square. Our postural (causes unsteadiness from standing up too fast)control and our eye developments, moving our eyes to and fro all over and using our eyes to get visual data with the goal that it very well may be prepared by our cerebrum. The brainstemcontrols such an extensive amount what occurs in our body. It controls such huge numbers of the various capacities that permit us to make due as individuals. It is a region of the cerebrum that truly, we underestimate and we ought to have the option to underestimate it. In any case, when it gets harmed through a mishap or whatever, the brainstem and the wounds that stream from that have awful results. At the point when an individual has a physical issue to the brainstem we see the harm to the guideline of our capacity to hold our internal heat level. It should be kept at a sound temperature rather than getting excessively hot or excessively cold. We can lose the capacity with a physical issue to the brain stem, productive and compelling administration of our pulse or the rate at which we relax. Somebody with wounds to their brainstem likewise experience issues with balance and their development. They have issues with gulping food and fluid, something every one of us ought to have the option to underestimate yet a physical issue to the brainstem would renounce that benefit. Brainstem wounds traditionally can be related with side effects of vertigo where the world twists. Regularly, its wild and unfixable. Theres wooziness and queasiness. In outline, the various flaps of the mind do numerous psychological conduct and social capacities as far as all the various parts of our real life of our enthusiastic life. I have summed up the projections of the cerebrum to delineate the manner in which we think, the best approach to process data, down to bigger effects of wounds to the mind. Discussing the brainstem represented elements of how we swallow food, how our body controls our temperature, etc. The key point in depicting the various regions of the mind and the various capacities can be summarized along these lines. At the point when any of the flaps of our mind are, harmed or harmed either unintentionally, by a driver, by a medication, or by a Dr there are loathsome outcomes that are certain. References Official Function Self-Regulation. (2015). Focus on the Developing Child at Harvard University. Recovered from http://developingchild.harvard.edu/science/key-ideas/official capacity/ Understanding the Teen Brain . (n.d.). In University of Rochester Medical Center Rochester, NY (Ed.), Health Encyclopedia. Recovered 0February 27, 2017, from https://www.urmc.rochester.edu/ Straight, E., Mclean, S. A. (2007). Mellow Traumatic Brain Injury. Diary of Neuroscience Nursing,39(1), 43-51. doi:10.1097/01376517-200702000-000090692

Friday, August 21, 2020

Chapter 4 Account Titles and Preparation of Financial Statements Free Essays

Part 4 : Account Titles and Preparation of Financial Statements| Article 14 : The monetary record things shallbe classified as follows: 1. Resources. (1) Current resources. We will compose a custom exposition test on Part 4 : Account Titles and Preparation of Financial Statements or then again any comparative subject just for you Request Now (2) Funds and long haul speculations. (3) Property, plant and gear. (4) Depletable resources. (5) Intangible resources. (6) Other resources. 2. Liabilities. Article 15 : Current resources mean unlimited money and money identical, transient ventures, and different resources that are convertible to money or used inside one year. Arrangement and assessment of current resource titles alongside required logical notes are as per the following: 1. Money and Cash proportionate: money close by, stores with banks, money for rotating use, trivial money, and present moment and exceptionally fluid venture that can be changed over into a fixed measure of money with premium variance having little effect subsequently, barring those effectively saved for use or confined by law or agreement; the record nature and required notes are as per the following: (1) Non-request stores with development longer than a year will be indicated. 2) Time stores (counting debatable testaments of store) will be renamed as different resources whenever gave as lien to a drawn out risk or as other current liabilities whenever gave as lien to a present obligation, and will be determined in the notes for the reality of collateralization. Refundable store shallbe delegated a present or other resource by the long-or transient nature, and will be indicated in the notes. (3) Compensating balances will be delegated current resources if emerging from transient advances, or renamed as different resources or long haul ventures if emerging from long haul liabilities. 2. Transient venture: characterized as speculation that is present moment; the nature of titles and assessment thereof and the necessary logical notes are as per the following: (1) Financial resource with change in reasonable worth being recorded as increases or misfortunes and monetary resource ready to move will be esteemed utilizing the reasonable incentive on the asset report date; the reasonable estimation of recorded or OTC stock and vault receipts demonstrate the end cost on the accounting report date. 2) Financial resources which should be undercuts inside a timeframe, in this manner changing in reasonable worth and acquiring an increase or misfortune, must be reflected in the budgetary resources records or while deciding how to quantify the additions or misfortunes, you settled on utilizing reasonable incentive to mirror these adjustments in reasonable worth, these figures should likewise be reflected in your money related resource records. 3) Financial resource ready to move w ill mean the non-subordinate money related resources other than the budgetary resources with change in reasonable worth being recorded into increases or misfortunes, which monetary resources are to be held until the date of expiry. 4) Short-term speculations gave as a lien, security or refundable store will be recorded as a momentary venture if the risk for such a venture is given as an assurance; if a transient speculation is given as an assurance to a drawn out obligation, such speculations shallbe recorded as long haul ventures. Realities with respect to the guaranteeshall be indicated in either case. 3. Supporting money related resources: characterized as the monetary resources set up in supporting bookkeeping, which are utilized as viable supporting devices, will be estimated by reasonable worth and partitioned into current and non-current as indicated by the liquidity of the things to be supported; non-current supporting budgetary liabilities will be recorded as supporting money related liabilities under different resources. 4. Notes Receivable: characterized as different notes which are gathered by the business substance. The bookkeeping nature, valuation and required notes are as per the following: (1) Shall be esteemed at the current worth, or might be esteemed at the presumptive worth if developing inside one year. (2) Notes receivable that were limited or moved to others will be deducted and indicated. (3) Notes receivable emerging from activities will be introduced independently from those not emerging from tasks. 4) Large-aggregate notes receivable from related people will be introduced separately. (5) Notes receivable that are given as security will be indicated in the notes. (6) Notes receivable resolved to be uncollectible will be discounted. (7) Notes receivable will be esteemed at shutting for the uncollectible sum, and any remittance for the uncollectible sum will be appropriately given and introduced as the contra record of the notes receivable. 5. Records Receivable: characterized as the case of the business element emerging from selling products or administrations; the bookkeeping nature, valuation and required notes are as per the following: (1) Shall be esteemed at the current worth or might be esteemed at the book esteem if developing inside one year. (2) Large-total records receivable from related people will be introduced separately. (3) Unrealized intrigue incomes from portion deals will be introduced as the contra record of the records receivable. 4) Accounts receivable to be gathered more than one year, will be indicated in the notes for the measure of anticipated assortment of every year. (5) â€Å"Designated Collateralized Accounts Receivable† will be revealed in the notes. (6) Accounts receivable that incorporates receivables from a drawn out development contract will be introduced and indicated in the notes for the saved bit that has been charged in accordance with the development account. Where the normal assortment of the saved sum runs recent year, the normal measure of assortment for every year will be determined in the notes. (7) Accounts receivable decided as uncollectible will be discounted. (8) Accounts receivable will be esteemed at shutting for the uncollected sum, and a recompense for the uncollectible sum will be appropriately given and introduced as the contra record of the records receivable. . Different Receivables: characterized as the receivables that don't have a place with the classes of receivables in the first section; the record nature, valuation and required notes are as per the following: (1) Other receivables surpassing five percent of the whole of current resources will be introduced independently naturally or object. 2) Other receivables will be esteemed at shutting for the uncollected sum, and a stipend for the uncollected sum will be appropriately given and introduced as the contra record of the receivables. Where the receivables are groupe d more noteworthy detail, , the remittance account will likewise be introduced in like manner. 7. Inventories: characterized as product or merchandise, either completed products or side-effects available to be purchased in ordinary activities alongside products that are work-in-procedure to be sold upon fruition, or crude materials or supplies utilized straightforwardly or by implication in the creation of merchandise (or administrations) available to be purchased; the record nature, valuation and required notes are as per the following: (1) Inventories will be esteemed utilizing the lower of cost or market value strategy. 2) Inventories with deformity, harm or out of date quality causing a conspicuous decrease in esteem will be esteemed dependent on the net feasible worth. (3) Inventories that are given as lien or assurance, whose use is managed by leasers, and so on will be indicated. 8. Prepayments: characterized as different expenses and costs paid ahead of time. With special case for reserves required by contract for the acquisition of fixed resources and development assets for incomplete development reserves, which should both be ordered as fixed resources. 9. Other Current Assets: characterized as present resources that don't have a place with the past seven classifications of current resources. In any case, any of the past classes of current resources, except for money, not surpassing five percent of the whole of current resources might be converged into other current resources. Article 16 : Funds and long haul ventures are characterized as the different supports put in a safe spot for operational purposes and long haul speculations utilized by the business for unique purposes; the record classes, valuation and required notes are as per the following: 1. Assets: characterized as resources accommodated specific purposes, including sinking assets, improvement and development reserves, possibility misfortune reserves and other related shared assets. The goals and usage technique on which apportionment of the assets is based will be determined. 2. Long haul Investments: characterized as speculations of a drawn out nature, for example, interest in different endeavors, acquisition of long haul securities or interests in land or other related ventures; the record nature, valuation and required notes are as per the following: (1) Long-term speculations will be determined for the valuation premise and will be introduced independently commonly. (2) The bookkeeping treatment of long haul value ventures esteemed by value strategy will follow the arrangements of the Statement of Financial Accounting Standards No. declared by the Accounting Research and Development Foundation of the Republic of China (hereinafter alluded to as the â€Å"Statement of Financial Accounting Standards†). (3) The bookkeeping treatment of long haul value ventures not esteemed by the value technique will follow the arrangements sketched out in the Statement of Financial Accounting Standards No. 34. (4) Long-term ventures that are given as lien or subject to limitations, constraints, and so forth lobby be indicated. (5) Long-term value ventures estimated by cost implies the individuals who have the accompanying protections without material effect or the subordinate items moving alongside such protections and convey through such protections: 1. Value protections that are not exchanged at the stock trade or not exchanged over the OTC. 2. Developing stock. (6) Financial resources in held-to-development: characterized as non-subordinate money related resource with fixed or decided assortment sums and date of expiry, which business have aggressi

Tuesday, June 9, 2020

Various E-Marketing Tools - Free Essay Example

Introduction The spectacular development of the internet has triggered much interest in different areas such as marketing. Businesses are experimenting with this new type of technology to support their commercial activities. There are various e-marketing tools available to e-marketers. The purpose of this paper is to compare and contrast various e-marketing tools currently being used by e-marketers. In order to achieve this objective, this paper will discuss the following four e-marketing tools that are being used widely: search engine optimisation, pay per-click, Web 2.0, and online social networks. Finally this paper will draw conclusions from the discussions. Search Engine Optimisation (SEO) SEO is a way of building traffic via organic search results. The content will rank higher in the search engines if it is better and more popular (Suarez, 2005). Hard work and dedication are required for this type of online marketing, because its a long and arduous process to position the website and its content at the top of the search engine page (Palmer and Koenig-Lewis, 2009). No website really ventures past the first page of any search engine, but if the website is optimised for SEO, then it will begin to appear more obviously on the first page of search engines like Google (Whitla, 2009). Consumers respect and trust organic results more as sources of information than paid search results; consequently they are more likely to click on an organic result compared to a paid search result (Trusov et al., 2009). A study showed that 95% of search engine users chose to click on organic results, while only 6% clicked on paid results (Wang and Zhang, 2012). This divergence can be expl ained by the fact that many search engine users have selective blindness towards paid search results (Jobber, 2010). The mind of a search engine user considers organic results that appear at the top of the search engine results page as credible. This depicted credibility gives the user faith in the content, products and services (Pang and Lee, 2008). If the content is relevant even after a long period of time and a search engine still ranks it high because of optimisation, then the content will stay at the top of the search engine results page for a very long time (Armbrust et al., 2010). Therefore, SEO is a means to keep the content pertinent and at the forefront of the companys target audience long after they were created. This is why, SEO is better than Pay-Per Click (PPC), because PPC will fall off the radar engines once the payment of fees is stopped (Armbrust et al., 2010). Armbrust et al. (2010) argue that the return on investment of the website will continue to rise with SEO, whereas with PPC it will reach a certain point and then become stagnant. This is because SEO pages click through-rates continue for an extended period of time, whereas PPC only has the ability to funnel clicks and convert them to sales for a short period of time. Once the payment of fees for PPC is stopped, the click through-rates will fall and the return on investment will drop proportionately. Boa-Ventura and Zagalo (2010) suggest that start-up businesses with shoestring budgets should go for SEO to promote their contents, because SEO is free of charge. Pay-Per Click PPC is a way of presenting the content to the target audience by paying for advertising space in the sponsored results section of search engine results page (Bruns, 2008). The company pays a fee for the click, once a viewer clicks on the advert and arrives on the web page. PPC can be done through various advertising networks like Google AdWords, Yahoo Advertising Marketing, Google AdSense and infolinks. PPC produces instant results, whereas SEO takes time and commitment before results begin to appear (Bampo et al., 2008). This is because, once the fees for PPC is paid, the link to the website will appear on the first page of the search engine. If a company wants to promote time sensitive contents such as product and service offers, the PPC is the most effective way of diverting consumers to the companys website (Clarke, 2008). Moreover, PPC enables a company to get its content out when the market is full of authority websites that even the most effective SEO cannot displace (Bam po et al., 2008). The conversion rates of PPC are higher than SEO, because search engine users who click on paid advertisement have the intention to make a purchase (Cook, 2008). This means visitors who arrive at the website through a paid advertisement are more likely to buy the companys products than those arriving through organic results. Also, calculation of the return on investment of the website is easier with PPC than with SEO (Armbrust et al., 2010). PPC allows the website to be promoted only to target segments. With PPC, it is possible for a company to market its products or services to people based on their gender, age, education level, income bracket and marital status (Easley and Kleinberg, 2010). Therefore, the companys financial resources are not wasted advertising on the website to visitors who are uninterested in the products and have no intention to make a purchase. With SEO, a website can lose its ranking if the SEO algorithms used by search engines are updated (Cook, 2008). Cook (2008) claims that PPC is not in any way affected by SEO algorithm updates. He goes on to argue that companies using PPC do not need to worry about losing traffic and the revenue that is generated by that traffic. Web 2.0 Blogs, wikis, RSS and social references are examples of internet technology and applications that are referred to as Web 2.0 (Turban et al., 2008). Web 2.0 expands social users and business participants experience, knowledge and market intelligence (Mata and Quesada, 2014). It does so through online applications that are open-source, interactive and user controlled. Web 2.0 supports informal user networks creation through the facilitation of ideas and knowledge flows, thus allowing generation and dissemination of market intelligence (Constantinides and Fountain, 2008). Various Web 2.0 applications are used to allow the exchange of information between users (Constantinides and Fountain, 2008). For example, websites allow the presentation of information, blogs allow various authors to post items or texts in chronological order on the same website, wikis allow collaborative creation and editing of web pages, chats allow synchronous conversation over the internet, RSS or atom syndic ation mechanisms allow retransmission of web information sources, podcasts allow distribution multimedia files, and mashups allow amalgamation of content from various websites (Mata and Quesada, 2014). Examples of websites using Web 2.0 applications include: Blogger, Facebook, Flickr, Google Docs, LinkedIn, Picasa, Skype, Twitter, Wikipedia, WordPress, and YouTube. These sites allow users to directly create and share information in various forms such as text, photos, and videos, hence facilitating communication and interaction between users (Mata and Quesada, 2014). Surowiecki (2004) describes collective intelligence as peoples knowledge and experience that those people gain and share within social contexts. The exploitation of collective intelligence is the most important aspects of Web 2.0 applications. Companies which exploited collective intelligence survived the dot-com bubble and now lead the Web 2.0 era (OReilly, 2007). However, Turban et al. (2008) question the collective intelligence in Web 2.0 applications due to lack of ability to verify the quality of the content and integrity of the users. Turban et al. (2008) argue that there is a risk that Web 2.0 applications may harness some poor quality information created and shared by its users. The above argument derives from the reality that maintaining editorial control over information created and shared on the internet is extremely difficult. Mata and Quesada (2014) argue that despite the lack of editorial control, the risk of poor quality information is manageable, especially in Web 2.0 sites that have high volume of users and specialise in providing information services. A study carried out by Giles (2005) established that the quality of information posted on Wikipedia is as good as those of the Encyclopaedia Britannicas. Moore (2009) echoes with this conclusion and reports that the Encyclopaedia Britannica has decided to let the public write articles in its online edition because of the success a nd popularity of Wikipedia. Online Social Networks An online social network is a web-based service that allows users to: 1) create a personal profile, 2) connect their profiles with other individuals profiles with whom they have formed social relationships both online and offline, and 3) view profiles linked to their connections, recursively (Boyd and Ellison, 2007). Boyd and Ellison (2007) state that an online social networks aim is to enable its users to articulate and make clear their existing offline social networks online, not the possibility to meet new people. Therefore, online social networks main purpose is to facilitate communication and relation among their users who are part of those social contexts (Mata and Quesada, 2014). Online social networks have received much attention because they have made the real social networks more visible and quantifiable, and also they have been accepted as important tools of mass communication, especially to influence others, create and disseminate news (Constantinides and Fountain, 2008 ; Boyd and Ellison, 2007). Web 2.0 has already demonstrated that its consequences are beyond technology and it has an effect on consumers, which affects strategy and marketing (Constantinides and Fountain, 2008). Therefore, from a marketing point of view, it is important to analyse online social networks effect on businesses. McAfee (2009) states that groupware or CSCW (computer-supported collaborative work) is a common perspective that relates to the use of online social networks in business. Ellis et al. (1991) claim that groupware enables communication, collaboration, and co-ordination, which is called the 3C model. To explain the use of online social networks for marketing, the following two perspectives are useful: market perspective and community perspective. This paper will only discuss market perspective because community perspective is not as evident in e-marketing as market perspective these days. The market perspective considers the number of users on high traffic o nline social networks as a potential market. Several such networks have tremendous amount of users, which presents valuable opportunities for businesses to promote their brands and products (Mata and Quesada, 2014). An analysis of 47 Web 2.0 case studies carried out by Dooley et al. (2012) concluded that market perspective related principles, such as behaviour change, segmentation and targeting, are evident in those cases. Therefore, the market perspective seems to be in widespread use when considering Web 2.0 applications for marketing. However, it is very important to recognise that not all consumers have accepted online social networks. Young consumers are the main users of online social networks, followed by mainstream online consumers and professionals who have realised that Web 2.0 applications empower them (Constantinides and Fountain, 2008). Furthermore, most existing online social networks have target segments and they still attend to those segments despite all the chang es that they have gone through in recent times (Rysdam, 2010). Target segments of Facebook and LinkedIn are university students and professionals, whereas target segment of MySpace is young people which are music fans (Boyd and Ellison, 2007). Therefore, it is very important to understand the target demographics of online social networks in order to properly use them according to the market perspective (Mata and Quesada, 2014). Conclusion This paper suggests that start-up businesses with shoestring budgets should choose SEO to promote their products and services. However, companies which have financial resources and want to carry out highly targeted campaigns should go for PPC. SEO offers long term search marketing on a budget, while PPC generates quick traffic streams that are required for high converting products. This paper finds that Web 2.0 is only useful if it exploits collective intelligence that is of good quality. This paper warns that marketing through an online social network can only be successful if the companys target segment matches with that of the online social network. Therefore, this paper recommends that a company should combine these marketing tools and use each tool according to the current needs of the company. References Armbrust, M., Fox, A., Griffith, R., Joseph, A.D., Katz, R., Konwinski, A., Lee, G., Patterson, D., Rabkin, A., Stoica, I., and Zaharia, M. (2010) A view of cloud computing, Communications of the ACM, vol. 53, no. 4, pp. 50-58. Bampo, M., Ewing, M., Mather, D., Stewart, D., and Wallace, M. (2008) The effects of the social structure of digital networks on viral marketing performance, Information Systems Research, vol. 19, no. 3, pp. 273-290. Boa-Ventura, A. and Zagalo, N. (2010) Editorial: Ecommerce in virtual worlds a just do it approach?, Journal of Theoretical and Applied Electronic Commerce Research (JTAER), vol. 5, no. 1, pp. I-II. Boyd, D.M. and Ellison, N.B. (2007) Social network sites: Definition, history, and scholarship, Journal of Computer-Mediated Communication, vol. 13, no. 1, pp. 210-230. Bruns, A. (2008) Blogs, Wikipedia, Second Life and beyond: From Production to Produsage, New York: Peter Lang Publishing. Clarke, R. (2008) Web 2.0 as syndication, Jou rnal of Theoretical and Applied Electronic Commerce Research (JTAER), vol. 3, no. 2, pp. 30-43. Constantinides, E. and Fountain, S. (2008) Web 2.0: Conceptual foundations and marketing issues, Journal of Direct, Data and Digital Marketing Practice, vol. 9, no. 3, pp. 231-244. Cook, N. (2008) Enterprise 2.0: How Social Network Will Change the Future of Work, Hampshire: Gower Publishing. Dooley, J., Jones, S.C. and Iverson, D. (2012) Web 2.0: an assessment of social marketing principles, Journal of Social Marketing, vol. 2, no. 3, pp. 207-221. Easley, D. and Kleinberg, J. (2010) Networks, Crowds, and Markets: Reasoning about a Highly Connected World, Cambridge: University Press. Ellis, C.A., Gibbs, S.J. and Rein, G.L. (1991) Groupware Some issues and experiences, Communications of the ACM, vol. 34, no. 1, pp. 38-58. Giles, J. (2005) Internet encyclopeadias go head to head, Nature, vol. 438, no. 7070, pp. 900-901. Jobber, D. (2010) Principles and Practice of Marke ting, London: McGraw-Hill Education. Mata, F.J. and Quesada, A. (2014) Web 2.0, Social Networks and E-commerce as Marketing Tools, Journal of theoretical and applied electronic commerce research, vol.9, no.1. McAfee, A. (2009) Enterprise 2.0: New Collaborative Tools for your Organizations Toughest Challenges, Boston: Harvard Business Press. Moore, M., (2009) Encyclopaedia Britannica fights back against Wikipedia, Telegraph, Online. Available at: https://www.telegraph.co.uk/culture/books/booknews/4318176/Encyclopaedia-Britannica-fights-back-against-Wikipedia.html [accessed on 24/5/2015]. OReilly, T. (2007) What is web 2.0: Design patterns and business models for the next generation of software, Communications Strategies, vol. 65, no. 1, pp. 17-37. Palmer, A. and Koenig-Lewis, N. (2009) An experiential, social network-based approach to direct marketing, Direct Marketing: An International Journal, vol. 3, no. 3, pp. 162-176. Pang, B. and Lee, L. (2008) Opinion min ing and sentiment analysis, Foundations and Trends in Information Retrieval, vol. 2, no. 1-2, pp. 1-135. Suarez, F. (2005) Network effects revisited: The role of strong ties in technology selection, Academy of Management Journal, vol. 48, no. 4, pp. 710-720. Surowiecki, J. (2004) The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, London: Abacus. Trusov, M., Bucklin, R. and Pauwels, K. (2009) Effects of word of mouth versus traditional marketing: Findings from an Internet social networking site, Journal of Marketing, vol. 73, no. 5, pp. 90-102. Turban, E., King, D., McKay, J., Marshall, P., Lee, J., and Viehland, D. (2008) Electronic Commerce 2008: A Managerial Perspective, New Jersey: Pearson. Rysdam, P.V. (2010) Marketing in a Web 2.0 World: Using Social Media, Webinars, Blogs, and More to Boost Your Small Business on a Budget, Florida: Atlantic Publishing Group. Wang, C. and Zha ng, P. (2012) The evolution of social commerce: The people, management, technology, and information dimensions, Communications of the Association for Information Systems, vol. 31, no. 1-23, pp. 105-108. Whitla, P. (2009) Crowdsourcing and its application in marketing activities, Contemporary Management Research, vol. 5, no. 1, pp.15-28.

Wednesday, May 6, 2020

Animal Advertising And Its Effects On The Marketing World

Tyler Faden Rough Draft Animals in Advertising Intro Advertisers have tried a variety of tactics to gain their viewers attention. One tactic that seems to have struck a chord in the marketing world is the use of animals. Additionally, most people find animals captivating and part of nature (1). As a result, this has become common practice to help increase sales, creating an affinity towards a brand with the use of animals. Brand identity however is not the only reason animals are used in marketing. The use of animals in advertising encompasses a multitude of psychological aspects including behavioral, neurological, and emotional components. Thus, this study examined the use of animals in current advertisements Psychological components:†¦show more content†¦Specifically, when violence or sex was included, the participants remembered more television commercials and had better recall of the product/service being advertised (5). Similar results were found when emotion was included in advertisements. That is, when emotion was used in the advertisement, consumers increased their buying behavior of the product/service (6). Introducing animals The main way animals are able to exhibit these traits is through the use of visual representation. Visual images help the viewer understand brand identity and helps increase the advertisements effectiveness in terms of sales. The effectiveness however of an image must become associated with a brand first for its effectiveness to become profound. Underwood and Schulz suggested that â€Å"paired-associative learning is the basis of the product-brand name link and must be acquired before it can be effective in advertising† (7). This pairing of brand and image is therefor the first step in creating a successful marketing campaign. Marketers hope that once this relationship has been forged, simply seeing the image will increase sales. Images may vary in their directness towards the product. They may be the main image or in the background. 1st Example: Spears and Germain viewed animals in advertising and their results revealed that animals were used to dictate the spirit of each decade. One example includes the time period between

Large Transport Band Gap Room Temperature â€Myassignmenthelp.Com

Question: Discuss About The Large Transport Band Gap Room Temperature? Answer: Introduction: Nature of business: Petroleum, cooking gas, construction materials, medical supplies and pharmaceuticals, home appliances, electronics, supermarket products and insurance. History: ATA (Athireemaafannu Trading Agency) was beginning off STO and became huge success in national development. ATA developed to become the State trading organization (STO) on 9th June 1979. STO took all trading as well as commercial activity on behalf of the Maldivian government. In keeping pace with demands STO started importing more for reasons increasing number of commodity items, modern construction materials, home appliances and consumer goods. Focus of project: This report includes discussion about STOs sources of finance whether long or short, dividend policy and profitability. Company profile: STO wants to lead through expansion, assortment, analyse advance areas of expertise and joining latest business deal. It also wants to explore internationally and establish themselves as international player which is honoured by international business community. STO also wants approachability with nationwide existence; it offers peace of mind and assurance to public of uninterrupted provision. It wants to build a skilled workforce by developing human force. STO also want to achieve environmental and sustainable growth with fulfilling their vision. STO with its group is a successful business leader. It also has keen and focused interest in petroleum, cooking gas and so on. The company is becoming geographically diversified with its operations in Maldives and Singapore as well. This is achieved with direct procurement and distribution over nations hence creating new joint ventures to trade effectively. STO also focused in exploring in tourism sector. Upcoming projects in areas of hospitality making it a big player and due to which it started earning more foreign currency. Long term sources of finance Equity: Equity consists of fund that is contributed by shareholders in a company. It is called s primary market when new shares are issued to investor by the company. Equity is one of the most preferred sources of capital (Baker and Powell 2005, pp 44-70). It shows how much part of capital of STO is shared with shareholder. As STO is developing company and needs contribution by shareholder so STO should issue more equity share in order to increase capital. Equity is comparatively as compared to debt. Equity of company= ordinary shares= 56,345,500. Debt: Debt refers to a duty or liability to pay money and provide service. It is the most common form of outside capital for new businesses (Baker and powell 2005, pp 44-70). Debt part of STO is 778,315,651. This means company is preferring loan more in proportion to equity. This shows company does not want to dilute power with other shareholder. Embedded: In embedded capital structure, a ratio between equity and debt is used to finance companys capital. This capital structure helps company to build effective portfolio and develop balance between risk associated with company and returns earned by company. In case of STO, the proportion between equity and debt that is more than 60% debt and remaining equity. Optimum capital structure: It is a financial measurement that is used by companies to determine best mix of debt and equity financing. Optimum structure helps in lowering cost of capital of company. It helps company to be more dependent on equity rather than debt. It seeks the degree of risk that fluctuate the return calculated by company more than its cost of capital (Brinckman Salomo and Gemuenden, 2011). STO is having two types of financing option available with it. Two options are equity and debt, company should opt for other finance options as well in lieu of more capital requirement. MM theory: This theory supports capital structure irrelevancy theory, which suggests that valuation of firm is irrelevant to capital structure of company. MM theory defined that market value of firm is decided by its earning power and by the risk of latent assets, and value of firm is autonomous of way it chooses to capitalise its upcoming project (Humphrey Loft and Woods 2009). According to MM valuation of STO is not dependent on its market value of different finance sources. It totally depends on earning power of STO and valuation is done in autonomous way it decides. Agency theory: Agency theory derives the conflict between corporate managers (principal) and outside shareholders (agent). This conflict leads to agency costs (Baker and Gerald 2011). Agency theory supposes that dividend mechanism proves as solution to principal/agent relationship related agency costs. It resolves the issue between managerial and stockholder priorities (Fong Tosi 2007). In case of STO company and shareholder can be in conflict due to legal or ethical practices adopted by STO. Managers may make decisions that conflict with the best interests of the shareholders. Another problem can be between managers and shareholders related to increase in size of firm which may be beneficial for shareholders but managers may not adopt due to decrease in their ownership in company. This impairs the goodwill of company so STO should resolve agency problem if it is existing between shareholders and managers. Solving agency problem with below suggestions: Adopting more legal and ethical practices to retain shareholders Adopting practices best in interest of both parties. Managerial compensation: The firm can pay incentive compensation to combine the goals of executive and shareholders. The company can provide performance share, stock options, salaries and bonuses to award superior performance and penalize poor performance. Direct shareholder intervention: Shareholder can intervene in decision related to corporate issues by using their voting power and electing members in board of director to present their interests. Pecking theory: The pecking order theory of capital structure is believes that management have inside information (Li, Wei, and Lie 2006). Donaldson study suggests the pecking order of financing specifies that firms can finance their requirement through many options like: raise debt or convertible debt, will issue equity, or will finance through internal sources of income. Free cash flow hypothesis explains that managers have nature to misuse the fund available. For reducing this misuse debt is considered as good option as this checks the indiscretion. In case of STO company has good amount of retained earnings available, so STO should finance its new project with its retained earnings. This helps company to not to dissolve its control over STO. It can adopt different options also like free cash flows, debt option and equity financing. CAPM theory: The CAPM calculates the return that an investment made by company can earn. It measures required return based on risk measurement. According to CAPM, investors select investments as they are wealth maximizers, based on some return and standard deviation. Investors can lend and can take loan at zero risk rates (Kumar et ol 2008). There are no flotation cost and taxes. All financial assets are fully marketable that means any quantity of asset can be purchased or sold. In STO, CAPM theory can define that shareholder can purchase any amount of shares and can lend any amount of loan to company. According to CAPM, STO all assets are fully marketable and no floatation cost and taxes exists, thus enabling shareholder to trade frequently. The capital gearing ratio of firm is highly geared this signifies that company is using less stockholders equity. The ideal capital gearing ratio is near to 50%. The ratio of STO is more than 50% showing greater risk, so it should take some steps to reduce risk. Its gearing ratio highlighting the firm inefficiency to pay debt on time. Hence creating issues in taking finance from banks in future. Short term sources of finance: Liquidity: Liquidity defines how quickly money through current asset can be converted in cash in hand. It can also be define as emergency savings account which can be accessed at time of unforeseen happening (Hill 2013). In case of STO liquidity is calculated with help of two ratios both are near to ideal hence it can be said that STO is having suffircient liquidity. Current ratio: It is a financial ratio which shows the proportion between current asset to current liability. It is used as an indicator of companies liquidity (Xia et al., 2010). Ideal current ratio is 2:1.The higher the current ratio, higher the capability of a company to pay its obligations. In case of STO the current ratio is less than ideal ratio so STO should take steps to reach ideal ratio. Company is not utilising its current asset properly. Quick ratio: It is a financial ratio used to check companys liquidity. This ratio is also named as acid test ratio. This ratio calculates proportion between cash and marketable securities to current liabilities. Ideal ratio is 1:1. In case of STO it is more than 1:1, so it should bring down to ideal to maintain efficiency. Working capital management 2016 2015 Current ratio 1.35 times 1.38 times Quick ratio 1.04 times 1.06 times Cash conversion cycle: The cash conversion cycle is a measure which defines duration of time in days that is taken by company to convert resource inputs into cash flow (Ebben Johnson 2011). CCC is calculated with help of inventory turnover, debtors turnover and creditors turnover. Inventory turnover ratio is 7.53 times in 2016 showing good amount of stock with company and debtors turnover ratio in 2016 is 32 times and creditors turnover ratio is 3.38 times. After converting these ratios in days converting cash conversion cycle in negative showing desirable result, this means STO do not have to pay to stock debtor or material supplier until the final sale is done. STO is utilising its working capital well and thus making readily available cash for other expenses and things. It also says that STO is not paying to is creditors until debtors are pay. Negative cash conversion cycle reduces cost of capital and increases overall profitability. Year/particular 2016 2015 Cash conversion cycle (-48days) (-40days) Dividend policy: Definition: It refers to decision of board regarding distribution of residual earnings which should be appropriated to shareholders of company. Companies have no legal obligation to pay dividends to common shareholders (Denis Osobov 2008). Dividend policies involve mainly decisions regarding: to retain earning for capital investment, to distribute earning in form of dividend, or to retain some and distribute remaining. Dividend policies can be of various types like regular dividend, stable dividend and irregular dividend (Baskin, 1988). Company has progressive policy of dividend distribution after 2014. The new strategy adopted in 2015 with the expectation of enhancing and guaranteeing the continuance of these exercises while in the meantime to distinguish new potential regions of speculation with the goal that they are concentrating on the expansion and development. These activities made STO to distribute more dividends in 2016. An analysis of dividend distribution over 5 years is shown in following chart MM dividend irrelevance theory: MM theory defines that shareholders are indifferent to payment of dividends because they can initiate any dividend policy they desire. (Miller, Merton and Kevin, 1985). The theory is in contrast to dividend relevance theory, which assumes dividend policys importance in valuation of company. In case of STO, dividends pay-outs are regular and paid least in 2014, company shares would have sold out more in 2014 as dividend payment was less and people would have bought in 2015. Highest purchase of STO shares in 2016 as highest dividend pay-out by company. MM theory defines this concept that shareholders are attracted more towards that company which has high dividend pay-out. Birds in hand concept: Birds in hand is a theory that supposes that investor would prefer dividend over shares to promising capital gain because of unpredictability of later one (Bhattacharya. 2009) . Under bird in hand theory, stocks having higher returns are purchased by investors and that stock establishes a higher market price. According to this theory STO stock will be sold more as the dividend payout in 2016 is highest and encouraging people to purchase STO shares. As according to bird in hand theory, shareholder will prefer more dividend payment rather than high capital gain. This will enhance company shares in market to sell more. Profitability: Profitability can be defined as primary income source and goal for all companies (Lesakova 2007).It is calculated with revenue and cost incurred by company, income is produced with activities performed by business and expenses are cost of material and labour used in producing that income(Miller Merton and Modigliani. 1961). Expanding revenue is main task of business experts. The profitability of company STO has increased in year 2012 and 2013. It decreased after 2013, so company should take steps to increase again. Profitability ratios of STO are satisfactory and have increased in comparison to previous years. Company can adopt following practices to increase profitability: Invest in profitable venture to expand the business. Enhance employee skills so that can contribute more in growth of STO in future. Reduce unnecessary wastage during to increase productivity. Reduce cost of transportation and raw material to minimise the production cost. Thus competitive price of products. Commercial viability: It can be understood as business, product and service which have ability to compete with competitors effectively. STO products are generally commercial viable as they provide daily routine machinery products at competitive price to retain customers. Moreover it gives discount over products like Hitachi pumps, hammer drills, wall chaser and many more at discount price. It generally has price lower than its competitors to retain customers. Profitability ratios: Profitability ratios 2016 2015 ROCE( rate of capital employed)% 11.75% 22.35% Gross profit % 15.24% 17.96% Net profit % 4.51% 6.03% Profit trend analysis of 5 years: Pest analysis of STO: Political factor: Maldives is a presidential democracy, with chief executive as leader of government and state. The tax related regulation for company by government can affect its business both positively and negatively. Political stability can also influence company existing business due to imposing of new regulations by new government. Economic analysis: Maldivian economy largely based on tourism industry generating more than 28% of their GDP. STO can have impact on its sales if inflation is high and vice versa. The unemployment rate also can hinder company growth as high rate of unemployment will stop people to purchase company products (Jennifer. 2017).. Business cycle faced by companies also affects its business as in boom time it can have high sale and in depression time lower sale affecting growth of business. Social analysis: Poverty in Maldives is due to regional inequalities in surviving conditions which arise because of remoteness of island and poor infrastructure (Barney 1991). Social analysis of STO, different cultural limitations affects company sales, as company cannot produce every type of product that customer demand. It depends upon STO marketers to shape different customer demand and enable them to purchase STO products. Technology analysis: Government spends in research and development programme in those sectors which generates high GDP. If some technology advancement is introduced and demand of STO product is decreased due to new launch, hindering the sale of company product. Sometime due to this company has to sell out-dated product at loss as well, lowering company growth. Minsky analysis: Minsky analysis began with recognition that post war economy is different, before war depression was continuous event and happening every quarter. It involves different sets of prices. First set for current output like consumption, investment and so on. And another set for asset pricing which includes capital asset used by firms in production. STO also should set different prices for its different products like consumption related product in different price category and investment related products in different price category. This analysis makes company product comparable with other firms. Minsky analysis involves two set of prices, first set includes prices of current output including consumption, products, services and many more. Other set includes prices of capital assets used by STO in production and finance enabling company to attain control over capital. The second set enables STO to determine the position of company to invest in project. These two sets vary in dependently according to market prices. Minsky analysis involves 3 types of financing to increase viability: Hedge finance: Income is expected to fulfill the debt arose during the time Speculative finance: It suggests STO to cover debt cost as income will be sufficient only to fulfill interest cost of STO. Ponzi finance: This suggests STO that income is less than expected and is enable to cover interest cost as well. So to cover this firm must sell assets to pay the debt. Recommendation: STO is company which is trying to establish itself in Maldives which is growing economy. So it is good to invest in company as ratios are performing quiet good. Current ratio is near to ideal ratio of 2:1 and quick ratio is also satisfactory. Due to fluctuations are their over years, shareholders sometimes hesitate to invest in risk taker company so company should try to establish growth in developing economy. Company also should take steps for increasing sales to enhance profitability which has decreased over years.so according to profitability company shareholder will be reluctant to stay over years. Capital gearing ratio is more than 50% making company more risky. Company policy to distribute dividend every year is attracting as company is not keeping earnings to itself. Overall it a growing company trying to excel in upcoming year so before investing a proper analysis should be taken. Company should expand worldwide its business to enhance profitability and goodwill amongst all. It also should reduce its capital expenditure in order to enhance production cost. Conclusion: In brief it can be say that STO of Maldives is growing company and exporting its services internationally. It has good growth structure and opportunities within economy. The financial analysis of company shows that it is a risk taker that means it prefers debt more over equity. Company dividend policy is growing which defines that company distributes its earning every year to its shareholders and does not accumulate profits as retained earnings. Profitability of company is growing over years hence company can grow to fully fledge with little efforts. All profitability ratios as observed above as increased in comparison to previous years. But recently in previous two year it decreased in comparison to past. Company is trying to explore its activity in tourism sector as well. References: Baker H.K and Powell. E.G., 2005. Understanding Financial Management. Blackwell Publishing. USA. Baker, H.K, and Gerald, S. 2011 Capital Structure and Corporate Financing accounting Decisions, John wiley sons, Hoboken. Barney, J. 1991 Firm resources and sustained competitive advantage, Journal of Management, 17(1), pp. 99-121. Baskin, Jonathan Barron. 1988. The development of corporate financial markets in Britain and the United States, 16001914: Overcoming asymmetric information. Business History Review 62:2, 199237. Bhattacharya. S. 2009, Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy, The RAND Corporation, 10(1), 259-270, https://www2.bc.edu/thomas-chemmanur/phdfincorp/MF891%20papers/Bhattacharya%201979.pdf, accessed on Brinckmann, J., Salomo, S. and Gemuenden, H.G., 2011. Financial Management Competence of Founding Teams and Growth of New Technology?Based Firms.Entrepreneurship Theory and Practice,35(2), pp.217-243. Denis, D.J. and Osobov, I., 2008. Why do firms pay dividends? International evidence on the determinants of dividend policy.Journal of Financial economics,89(1), pp.62-82. Ebben, J.J. and Johnson, A.C., 2011. Cash conversion cycle management in small firms: Relationships with liquidity, invested capital, and firm performance.Journal of Small Business Entrepreneurship,24(3), pp.381-396. Fong, E.A. and Tosi Jr, H.L., 2007. Effort, performance, and conscientiousness: An agency theory perspective.Journal of Management,33(2), pp.161-179. Frankfurter, George. M., and Bob. G 2006. Dividend policy: Theory and practice. London: Academic Press.London. Hill, R.A., 2013. Working capital management.Recuperado de https://202.191,120, p.8020. Humphrey, C., Loft, A. and Woods, M., 2009. The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis.Accounting, organizations and society,34(6), pp.810-825. Jennifer. P 2017, What Is a PEST Analysis?, Business News Daily, 22 june, accessed on 30th july 2017, https://www.businessnewsdaily.com/5512-pest-analysis-definition-examples-templates.html. Kumar, P., Sorescu, S.M., Boehme, R.D. and Danielsen, B.R., 2008. Estimation risk, information, and the conditional CAPM: Theory and evidence.The Review of Financial Studies,21(3), pp.1037-1075. Lesakova, L., 2007, June. Uses and limitations of profitability ratio analysis in managerial practice. InInternational Conference on Management, Enterprise and Benchmarking(pp. 1-2). Li, Wei, and Lie.E 2006. Dividend changes and catering incentives. Journal of Financial Economics 80:2, 293308 Miller, Merton, and Kevin Rock. 1985. Dividend policy under asymmetric information. Journal of Finance 40:4, 103151. Miller, Merton, and Modigliani. F 1961. Dividend policy, growth and the valuation of shares. Journal of Business 34:4, 41133. Skogrand, L., Johnson, A.C., Horrocks, A.M. and DeFrain, J., 2011. Financial management practices of couples with great marriages.Journal of Family and Economic Issues,32(1), pp.27-35. Xia, F., Farmer, D.B., Lin, Y.M. and Avouris, P., 2010. Graphene field-effect transistors with high on/off current ratio and large transport band gap at room temperature.Nano letters,10(2), pp.715-718.

Monday, April 20, 2020

Transformational Leadership free essay sample

Although what type of leadership is the perfect one is still arguable, a great amount of research evidence has indicated that a type of leadership known as transformational leadership is the one that will improve organizational behaviors and therefore enhance the overall performance of an organization. In this paper, we will first discuss what transformational leadership is and elaborate on how transformational leadership is related to organizational citizenship behavior, creativity and turnover. Then, we will show the extent to which transformational leadership is applied within a certain organization in China and offer our suggestions on how to improve transformational leadership in that organization. To begin with, we are about to explain the definition of transformational leadership and present the empirical evidence on the positive correlation of transformational leadership to organizational citizenship behavior and creativity and the negative correlation relation to turnover. Transformational Leadership Transformational leadership is one of the most important leadership patterns, and has been widely researched throughout the years since 1978, when James MacGregor Burns first introduced the concept of transforming leadership in his descriptive research on political leaders. We will write a custom essay sample on Transformational Leadership or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page â€Å"For Burns, leadership is a process of evolving interrelationships in which leaders are constantly influencing and modifying employees’ behavior until organizational goals and the vision of the leader are met. It is a process in which leader and followers proactively raise each other to higher levels of morality and motivation† (Goho, 2006). Johns and Saks (2011) mention that there are four dimensions in transformational leadership: (1) idealized influence, (2) inspirational motivation, (3) individualized consideration, and (4) intellectual stimulation. Idealized influence can simply refer to as â€Å"Charisma†, the extent to which the leader can develop personal appeal to employees and influence them to work actively. Inspirational motivation is the component characterized by the leader’s ability to depict a clear vision and successfully motivate employees to work towards that vision. Individualized consideration refers to the trait that a leader can work as a mentor or coach who pays individualized attention to employees’ needs and concerns. Intellectual leadership examines the leader’s ability to fully excavate employees’ innovation and creativity. These four dimensions generate an effective pattern of leadership that is widely used in the workplace around the world. According to Warrick (2011), transformational leadership generates payoffs and benefits towards individuals, teams and organizations as a whole. It increases their performance, commitment, innovation, cohesiveness and outcomes, shapes and reinforces a new culture, builds trust among leaders and employees, decreases employee stress and burn out. One main reason that makes transformational leadership significant is that it is closely related to other organizational behaviors like organizational citizenship behavior, creativity and turnover, which are all important to an organization’s wellbeing and development. In the following sections, these relationships, or more precisely, correlations, will be discussed in details. Organizational Citizenship Behavior In terms of organizational citizenship behavior, the most significant theory is put forward by Dennis W. Organ who defines OCB as â€Å"an individual behavior that is discretionary, not directly or explicitly recognized by the formal reward system, and that in the aggregate promotes the effective functioning of the organization. By discretionary, we mean that the behavior is not an enforceable requirement of the role or the job description, that is, the clearly specifiable terms of the person’s employment contract with the organization; the behavior is rather a matter of personal choice, such that its omission is not generally understood as punishable† (Organ, 1988). We can infer from the definition that a company does not recognize it as a formal standard of behavior despite of its positive effects, so whoever is high on OCB may probably not be equally rewarded as the one who makes other obvious contributions to the company. Moreover, it is just an initiative action, and to which degree an employee lacks OCB will not be necessarily related to the punishments. According to Podaskoff et al. (2000), there is a seven-dimensional taxonomy of organizational citizen behaviors: helping, sportsmanship, organizational loyalty, organizational compliance, individual initiative, civic virtues and self-development. The most important part is the helping behavior, an action that includes being willing to help the co-workers (George and Brief, 1992), interpersonal helping (Graham, 1991), and altruism (Organ, 1988). Organizational citizenship behaviors have many forms. Some of them are directed at individuals and others at organizational performance. Examples on OCB directed at individuals are people’s showing concern and courtesy toward colleagues, and going out of the way to make newer employees feel welcome in the working environment. Similarly, examples on OCB directed at the organizations are people’s identifying themselves as part of the organization, and defending the organization when other employees show dissatisfaction or even hostility towards the organization. Transformational Leadership and Organizational Citizenship Behavior We have discussed earlier that there are four dimensions of transformational leadership: idealized influence (charisma), inspirational motivation, individualized consideration and intellectual stimulation (Johns amp; Saks, 2011). From the existing research, we find that transformational leadership yields higher employee OCB. (Organ, 1988). And the transformational leadership can also influence OCB in terms of idealized influence (charisma), individualized consideration and intellectual stimulation (no specific study on inspirational motivation). Idealized influence (attributed charisma and idealized behaviors) may result in higher commitment and job satisfaction, and may also increase a firm’s profitability, sales and revenues (Bass, 1985a,1990b; Podaskoff amp; Mackenzie, 1994; Waldman, Ramirez, House, amp; Puranam, 2001). Intellectual stimulation may enhance employees’ problem-solving skills, ability to deal with changes and to create innovative ideas. From the perspective of organizations, intellectual stimulation will help improve the innovation, production as well as unit performances in the organizations (Bass, 1985a, 1990b; Bass amp; Avolio, 1993; Anthony, 1998; Howell amp; Avolio, 1993; Hsu, 2002; Seltzer amp; Bass, 1990; Tichy amp; Devana, 1986). At last, with individualized consideration, employees will have higher commitments, extra efforts, increased performance and better use of team work. Therefore, based on the empirical studies, the following hypothesis is formulated: Hypothesis 1: Transformational leadership is positively correlated with organizational citizen behavior. Creativity In a highly competitive world, creativity has become increasingly important to the development of an organization. Creativity greatly influences innovation performance that helps an organization gain competitive edge within the industry. Creativity is defined as â€Å"the production of novel and useful ideas concerning products, services, processes, and procedures in organizations† (Amabile, 1988). Besides, creativity is also â€Å"a process in which employees develop novel and useful solution to meet challenges and solve work-related problems in the course of goal-directed behavior† (Amabile, 1998;Yong, 1994). Transformational Leadership and Creativity Research evidence shows that leadership, especially transformational leadership which exerts close relationship with individual creativity, has a great influence on creativity (Scott amp; Bruce, 1994; Tierney et al. , 1999). Moreover, according to Bass’s (1985) transformational leadership theory, transformational leadership is posited to be composed of four dimensions, namely charismatic influence, individualized consideration, inspirational motivation, and intellectual stimulation. Based on the empirical research and theories, we assume that all these four dimensions of transformational leadership are positively related to followers’ creativity. Charisma, or idealized influence, refers to the extent to which the leader acts venerably and is emotionally appealing to followers (Bass, 1985). In such a situation, followers are enthusiastic to accomplish beyond expectations and they are more likely to achieve higher work objectives (Amabile et al. , 1996; Amabile et all. , 2004). Thus, a good leader with transformational leadership can inspire followers’ creativity by making the employees feel challenged and encourage them to explore novel approaches in innovative advocating environment. Individualized consideration refers to the extent to which the leader is sensitive to each subordinate’s needs and concerns (Judge amp; Piccolo, 2004). Given that the transformational eaders satisfy subordinates’ developmental needs, subordinates in turn are more likely to devote more time and hardworking to requite their leaders’ expectation. The followers are thus stimulated to achieve high level of creativity. Inspirational motivation describes the degree to which the leader enunciates a vision that fascinates and inspires followers. By applying symbols and e motional encouraging behavior, transformational leaders appeal to discover their followers’ potential and encourage them to achieve what is beyond their self-interests for the good of the organization (Bass amp; Avolio, 1995). As a result, increased number of novel ideas will be generated under a free expression environment, which eventually may contribute to the organization’s gaining of competitive edge. According to Hater and Bass (1988), transformational leaders also exert intellectual stimulation to arouse followers to think in creative ways and analyze issues using problem solving skills before they take the action. In addition, followers are strongly supported to challenge the status quo, to question old assumptions, and to satisfy their curiosity with unlimited imagination (Bass, 1985). Consequently, followers may tend to figure out unconventional approaches and thoughts to address problems, which is beneficial to sustainable development of the organization. Therefore, based on the empirical studies, the following hypothesis is formulated: Hypothesis 2: Transformational leadership is positively related to employee creativity. Turnover Turnover is always an important issue for organizations to deal with because of its incredibly high cost. A fast food restaurant may have to spend hundreds of dollars on hiring and training a new counter attendant. For a large corporation looking for a new CEO, that cost can rise up to millions of dollars because the number of qualified candidates is usually very limited in the job market. In fact, the actual cost of turnover is usually well beyond what can be measured by money. An employee who resigns may also take away the special experience and skills developed over time on that job and sometimes may even transfer the confidential business know-how to another company. Therefore, the importance of retaining staff cannot be ignored. High staff turnover is one of the organizational problems that managers need to put an end to before it gets out of control because it has a negative impact on the bottom line of service organizations (Amarjit, Neil and et al. , 2011). In the past decades, the relationships have been found between job attitudes and turnover. Research indicates that the less satisfied the employees are with the job and less committed they are to the organization, the more likely they are to quit. But research also discovers some exceptions when situational factors intervene to influence an employee’s decision (Johns amp; Saks, 2011). For example, an unsatisfied employee may have to stay if the job alternatives are quite limited. Or in another situation, a satisfied employee may have to leave if emergencies like the death of a family member or the birth of a child happen. In general, turnover intentions can be reduced and ultimate turnover can be prevented if approaches are taken to improve the employees’ satisfaction and commitment to the organization. Transformational Leadership and Turnover The number of studies on the relationship between turnover and transformational leadership is relatively small. Research evidence has found a significant negative relationship between transformational leadership and employee intention to quit and indicated that higher transformational leadership lowers the employee turnover intention (as cited in Gill, Mathur, Suraj amp; Bhutani, 2011). Though the direct evidence that supports the negative relationship between turnover and transformational leadership seems not very strong, some studies show that transformational leadership are positively correlated with job satisfaction and commitment (Medley amp; Larochelle, 1995; Charles amp; Katherine, 2007; ). As we have discussed that job satisfaction will help reduce turnover and transformational leadership will help improve job satisfaction and commitment, we can probably assume a negative relationship between transformational leadership and turnover by using the job satisfaction and commitment to organization as a medium. Therefore, based on the empirical studies, the following hypothesis is formulated: Hypothesis 3: Transformational leadership is negatively correlated with turnover. Method In the preceding section, we have presented the theoretical framework of transformational leadership. From this section on, we begin to discuss the application of transformational leadership in the real business environment. The organization we investigated is Shaanxi Weihe Electrical Power Co. Ltd. , located in Xianyang, Shaanxi Province in China. It is a major electrical power supplier in that area with more than 2000 employees. We surveyed 17 people, including 7 males and 10 females. These participants are from the Human Resources Department and Accounting Department of that company, with an average tenure of 15 years. We designed a questionnaire and translated it into Chinese. Then we sent the translated version of the questionnaires by email to our contact person in the company, the Director of the Human Resource Department and received questionnaires by email from our contact person when all participants finished their questionnaires. Our questionnaire consists of 12 questions, with each 3 questions investigating one perspective of transformational leadership. Specifically, Question 1-3 investigates intellectual stimulation. Question 4-6 investigates individualized consideration. Question 7-9 investigates inspirational motivation. And Question 10-12 investigates idealized influence. For each question, we asked the participant to use number 1-5 to indicate the extent to which they agree that their immediate supervisor exhibit a certain behavior. Both the original English questionnaire and the translated Chinese one are in the appendices of this paper. Results Table 1: The results of our survey indicate that in general the employees in the Human Resources Department and Accounting Department neither disagree nor agree that their immediate supervisors, namely the Director of Human Resources and the Director of Accounting exhibit transformational leadership in their daily work. In this section, we will discuss the results respectively from the perspectives of intellectual stimulation, individualized consideration, inspirational motivation and idealized influence. Question 1-3 investigates the extent to which supervisors intellectually stimulate employees. The average result of Question 1-3 is 3. 39, which indicates that supervisors sometimes encourage employees to innovate but sometimes do not. Actually, the mode of results of Questions 1 and 2 is 2, reflecting the fact that most mployees do not agree that their supervisors encourage them to solve problems from different ways or solicit their ideas when solving problems. Question 4-6 investigates the extent to which supervisors consider the individualized needs and concerns of employees. The average result of Question 4-6 is 4. 08, the highest among all four perspectives and the mode of the results of each question is 4, which altogether indicate most of employees agree that their supervisors can treat them as an individual rather than an ordinary member of the department. Therefore, the supervisors perform well in showing individualized consideration to their employees. Question 7-9 investigates the extent to which supervisors motivate employees to complete a certain task by explaining the importance of the task and communicating optimism to employees. The average result of Question 7-9 is 3. 33 and the mode of the results of each question is 3. We can reasonably interpret the data as a moderate performance of supervisors in terms of inspirational motivation. Question 10-12 investigates the extent to which supervisors display idealized influence, which is also known as charisma. The average result of Question 10-12 is only 2. 86, the lowest among all four perspectives. The mode of results of Question 12 is 2, which reflects a fact that most employees think their supervisors fail to win their respect. To summarize, supervisors in the two departments are successful in showing individualized consideration but are unsuccessful in showing idealized influence. In terms of the other two perspectives of transformational leadership, supervisors in the two departments deliver a moderate performance. Discussion As discussed in the preceding section, transformational leadership is important for the development of an organization because it is positively correlated with organizational citizenship behavior and creativity and negatively correlated with turnover. However, the investigation on the application of transformational leadership in Shaanxi Weihe Electrical Power Co. Ltd. shows a moderate level of transformational leadership in daily work. Therefore, we believe that it is necessary to provide our recommendations will help improve the transformational leadership in the company. Since we have discussed the result from four perspectives of transformational leadership, our recommendation are presented in the similar pattern. Intellectual Stimulation The results of Question 1-3 reflect a moderate transformational leadership in terms of intellectual stimulation. According to empirical studies, the following approaches can be adopted to improve intellectual stimulation. â€Å"Intellectual stimulation is defined as having a leader who encourages innovation and creativity, as well as critical thinking and problem-solving. Intellectual stimulation involves arousing followers thoughts and imagination, as well as stimulating their ability to identify and solve problems creatively† (Bass, 1985). Leaders play a crucial role in stimulating intelligence among subordinates. Those who possess transformational leadership will help arouse employees’ new ideas, stimulate them to view the world from new perspectives and boost creativity. According to HEXACO personality model (Ashton et. al, 2004), a good leader should have the personalities of honesty-humility, emotionality, extraversion, agreeableness, conscientiousness and openness. A leader high on openness is more likely to inspire the adaptive performance of employees and enable them to deal with uncertain work situations more effectively and solve problems more creatively. To improve the performance of employees, leaders also need to be educated and trained to be transformational. Only with better knowledge and skills on transformational leadership, can leaders be able to exert positive influence among their followers. Individualized Consideration According to the survey, the leaders perform well in terms of individualized consideration because the average results of Question 4-6 is 4. 8, the highest average among all four dimensions. However, there is still room for leaders to further develop this aspect of transformational leadership by conducting â€Å"career counseling with the followers, careful observation of followers and recording their progress and encouraging followers to attend technical courses† (Alannah amp; Mark, 2006). Through career co unseling, leaders will learn what their followers are interest in or what they are concerned about, and thus take appropriate actions that may motivate followers to achieve their individual goals. Besides, by carefully observing followers and recording their progress, leaders can develop familiarity with their followers, get a feedback of their leadership performance and learn what kind of leadership behaviors tend to be the most effective one. Sometimes, transformational leaders also encourage followers to attend job relevant courses, sending a message to the followers that they are expected to deliver better job performance. In this way, followers will not only enhance their professional skills but raise their self-efficacy as well. Through conducting these activities, individualized attention allows leaders to become familiar with followers, enhances communication and improves information exchange† (Alannah amp; Mark, 2006). In addition, followers are likely to perceive that they supported by their leaders, and they are therefore more likely to convey their thoughts to the leaders when they are stressed or concerned. Inspirational Motivation The average result of Ques tion 7-9 is 3. 3, which indicates the leaders in the company need to improve their inspirational motivation during the daily work. Therefore, three recommendations are discussed as follows. First, an inspirational leader should give employees the task that is within their capabilities. According to Vroom’s Expectancy Theory (1964), one’s belief that he or she has the ability to do the task successfully is called self-efficacy. Research evidence has showed a positive correlation between self-efficacy and task performance. The higher the self-efficacy a employee has, the better the task performance he or she will deliver. Second, an inspirational leader should also understand what their employees need. Although research shows that financial incentives seem to work better than other incentives. Leaders cannot always provide a salary increase as a motivator. According to JCM (Hackman amp; Oldham, 1974), a good job that an inspirational leader can create should contain five core job characteristics known as variety, identity, significance, autonomy and feedback that affect employees’ motivation particularly. As a consequence of the implement JCM, the employees will have high internal motivation, high job performance, high satisfaction and low absenteeism and low turnover. Third, the inspirational leader should communicate the vision and mission of the company to employee in an enthusiastic way. Leaders could talk to employees about their ideas, plans or goals. Employees may think that if they have no chance to construct or change the organization they are working in, they may not devote themselves to the organization. Therefore, leaders should describe a vision that inspires followers and even make them to sacrifice the self-interests for the good of the company (Burns, 1978; Bass, 1985). Idealized Influence The survey shows that idealized influence, also known as charisma, ranks the lowest among the four dimensions of transformational leadership with an average of 2. 86. The lack of confidence and respect from employees has become a main weak point of the leaders. â€Å"The emergence of charisma is a complex function of traits, behaviors, and the being in the right place at the right time† (House, 1977). And â€Å"the prominent traits include self-confidence, dominance, and a strong conviction in one’s beliefs† (John amp; Saks, 2011). Therefore, the following suggestions are provided for the leaders to enhance their idealized influence. To begin with, leaders should continue to elevate their comprehensive abilities and qualities. As long as they truly master the knowledge and management skills related to the job, they can accomplish tasks easily. In this way, it is less likely that leaders fear and avoid the difficulties so followers will trust their supervisors and work with them with more confident. In addition, it is advisable for the company to train the supervisors periodically to make them realize the significance of collectivism. Those leaders who are instructed to be loyal to the organization would direct their subordinates in a positive and effective way, which, gradually distinguish themselves from ordinary leaders. At last, leaders cannot win the respect from their subordinates if they frequently show their superiority as a supervisor. Leaders should treat every staff fairly and equally. This with no doubt will increase employees’ job satisfaction and positive attitudes towards their leaders. Setting good examples for workers is also essential. In most cases, leaders lose their respect from employees for the reason of being rude to the subordinates. Therefore, it would be better if directors of these two departments stand on employees’ sides and take their feelings into consideration. Limitations Although the results of the research reach our expectations, limitations of the research method cannot be neglected. Constrained by the limited time and human resource allocated to this project, we fail to further expand the recipient base of the survey. We believe that if more people had been investigated, the result of the survey would have been a better reflection of the real situation. Besides, the recipients of questionnaires are from only two department of the company. We fail to include more employees from other departments, especially the employees from the frontline workshop who make up the majority of the employee population in the company. At last, we use mathematical average to analyze the data collected from the questionnaire. We believe that there should be statistically better method for analyzing the data because we have realized that the highest and lowest score will offset each other when we calculate the mathematical average. References Alannah, E. R. , amp; Mark, A. G. (2006). Refining individualized consideration: Distinguishing developmental leadership and supportive leadership. Transformational leadership free essay sample Biography Tan Sri Syed Mokhtar Albukhary , or better known as Syed Mokhtar was born in1951 at Jalan Day, Alor Setar. Syed Mokhtar was raised from a poor family consisted of 5 members. His father was an immigrant from Afghania. Syed Mokhtar inherits his business skill from his father who buys and sells cow. Syed Mokhtar was not very good in academic, but he is excellent in figures and account. Syed Mokhtar manages to start his very own business in 1966 when he follows his father to Kuala Lumpur to buy and sell cows. The first company that Syed Mokhtar builds is Syarikat Kenderaan Sentosa (SKS) which registered in 1972. Syed Mokhtar involve in rice business in 1990. Now Syed Mokhtar has built his own business empire through his effort and world class leadership practice. Yayasan AL Bukhary is one of his prove that he has not forgotten where he come s from, a poor family in Kedah. We will write a custom essay sample on Transformational leadership or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He has a net value of US$2 billion and considered as 8th Malaysia’s richest man according to Forbes. Syed Mokhtar keeps building his business empire and mange to take over some of the prestigious company such as MMC, DRB-HICOM, PERNAS and Pelabuhan Johor. Syed Mokhtar also involve in a global business venture in other country such as China, Iran, Libya and others. He create new friend and at the same time not forgotten an old friend. People around him always feel comfortable with his kindness and humble. Syed Mokhtar was an excellent example of how a businessman leader should be. Never forget to help others when we have been successful. Transformational Leader When Syed Mokhtar started his business, he already places a big dream. He makes a clear vision in each of every new thing he invested. He is able to see opportunities whereas the others failed. When he started his logistic  business, SKS, he knows that this business already monopoly by the Chinese. Typical Malays would like not to involve in this business as it is difficult to penetrate Chinese blockage. Syed Mokhtar doesn’t see this as a barrier but use this stepping stone for him to succeed. He chooses to make these Chinese as his friend rather than being their competitors. As Kedah was known as rice producer, most of his earlier cargo is rice. The rice distributors were dominated by the Chinese, so Syed Mokhtar manages to approach reliable Chines to work with him at the earlier stage. He offer higher pay for the Chinese, and also promise an extra profit sharing if the company make profit. Syed Mokhtar very determines to break the Chinese wall. He put a clear vision, to penetrate Chinese monopoly. He uses a Chinese to do that. He involve on the business himself. It is said, that Syed Mokhtar always comes home late to wait his lorry come and go without any problems. Within 3 months, his company already makes profit and keeps expanding. Syed Mokhtar than move to rice industries, which is more difficult market to penetrated yet he manage to use the same approach as his earlier involvement in logistic business. He makes partnership with Chines to started Shah Enterprise Sdn Bhd. He needs his Chinese fellow market influence and the Chinese need his advantages as a Bumiputra. Syed Mokhtar stated his clear vision to his shareholders that he just not want to be a Bumiputra representor in order to get contract from the Government, but he want to control the company. He contributed 42% of his company equity and later on become majority shareholder. Slowly, Syed Mokhtar manages to build his empire, venturing in new business activity. In a way to become a success business man, he also faced difficulty. When he ventures in property developers, it is a purely new thing to him. As the economic downturn in 1985, Syed Mokhtar failed to maintain in property development industry. A lesson he learned, never involve in anything that you are not ready with. Behaviors, Traits and Skills Behaviors refer to a response of an individual or group to an action, environment, person or stimulus. Traits refer to a distinguishing feature, as of a person’s character. Skills refer as the effectiveness of a leader. As Syed Mokhtar becomes a corporate man, he shows a world class  characteristic of a World class leadership. Syed Mokhtar has his own clear vision on how he would be in the future. As a proof, when government introduces New Economic Policy, Syed Mokhtar takes a full advantage of government effort to help the Bumiputra businessman. Syed Mokhtar penetrates a Chinese monopoly market. He has a clear vision to do business that can confirm profit. For others, it is a suicide action when trying to compete with the Chinese businessman as they already create a great wall within them. If Syed Mokhtar doesn’t ambitious enough, he would not dare to compete with the Chinese. After setting up his vision, he manages to plan on how to make sure he will succeed. Yes, h e choose to friend with the Chinese instead of confront them. He uses Chinese to break the Chinese barrier. A very good business strategy perhaps. When we talk about personal integrity, no doubt about Syed Mokhtar’s personal integrity. At his earlier stage in logistic activities, he have an opportunities to do easy profit by letting go two out of transporting permits to the Chinese. A lot of Bumiputra sell their transportation permits to the Chinese businessman to get easy money. If Syed Mokhtar doesn’t have personal integrity, he might do so. Another ways to show Syed Mokhtar integrity is on how he is still keeping his share which he bought by using the Bumiputra quota regulated by the Government under New Economic Policy. He may sell the market share if he wants to earn easy money yet he did not do that. He believes that the market share where he bought using Bumiputra quota is his responsibility to keep. Syed Mokhtar always have close relationship with his employee. It always think how to meka sure that his company can survive so that no body have to quick. This show how high the EQ he have. When the economic down turn, he manage to keep the staff and without fail to pay the salary on time. He feel that, it is the duty of him to make sure the company survive so that a lot of people can continue their living. He always keeps his current friend in contac t and at the same time makes new friends. It is believe that he made more than 100 calls a day just to make ask his friend condition. Yayasan Al Bukhary is one of the examples to show how his believe to help the society. He contributes his company profit to Yayasan Al Bukhary so that poor people can get a chance to higher education. Even though he is not good in academic, he is still believe that knowledge is very important. His best quoted, â€Å"â€Å"I think it has to do with realization of where you come from, and where you are  going.† He always remembered how he came from a poor family and then become a successful business tycoon. When we talk about how he plan in doing business, he adopt the 4 main skills which world class leader hold. When he wants to do business, he always plans from the beginning. When he want to venture in cocoa supplier with China, he plan on how he should attend the Cantoon Trade Fair and then how to make sure he manage to get the supplier of the cocoa. He plans to buy a land so that he can plant cocoa. He plans how to make sure that he won’t have any shortage of cocoa . When he get government contract for supplying goods, he manage to get supplier from international market. In order to make sure he can manage to secure the supplier, he choose to venture in production business to make sure he can secure price and maintain the supplier. This is how he thinks and plan when doing business. When Syed Mokhtar wants to take over MMC, he asks his accountant to do the calculation. He empowers his staff to do the calculation for him. Even though the final decision was made by him, but he managed to organize the workload within his workers. As soon as he completes the transaction of buying MMC, the first thing he do is organize his profitable source to support the MMC. As a result, he manages to recover MMC in profitable position. This is how he organizes as to make sure he can fulfill his vision. Syed Mokhtar also shows a good leading skill to his employee. One of his trait is he will do thing seriously. Dr. Mahathir, former prime minister also quoted that Syed Mokhtar is an example of a strong Bumiputra and will work hard to achieve what he want. Syed Mokhtar always wants to know what happened in the business he ventures. When his early involvement in property development, every day he will go to the site to ensure that the development progress is on schedule. As a result, he manages to complete his very first residential project, Taman Mawar at Kedah. Syed Mokhtar will conduct a meeting with his anchor man in the late evening till morning. This is how he gets to know what is going on in his company. The meeting conducts in a casual way and not in formal manner. This will create a close relationship between him and his employee. These are some example on how Syed Mokhtar do a controlling on his business empire. Effective Leader World class leader surely show an effective leadership style which can be measure by his company sales, net profits, profit margin, market share etc. Syed Mokhtar shows how effective he becomes a leader based on his behaviors, traits and skills explained above. He manage to turn around a problematic company into a profitable company such as MMC, PERNAS and DRB-HICOM. If Syed Mokhtar not effective, he might have failed to overcome the situation face by the said companies. Another measurement for an effective leadership is the follower’s attitudes. Syed Mokhtar shows a good example to his staff on how to do work in a proper manner. That is why, when the accountant being asked to come up with a proposal on whether to invest in problematic company, the staff gives a fair report. If the staff doesn’t follow Syed Mokhtar attitude as being honest, definitely, the accountant will only show good report to earn an easy commission. However, Syed Mokhtar has shown a good example to his employee as to be high integrity in doing their work. Syed Mokhtar always feels that he is responsible for the survival of his company as there a re too many people depending on it. These is why, the staff have a very close relationship with Syed Mokhtar, even the ex-staff who already retire still contacting Syed Mokhtar as friend. Syed Mokhtar have proven his ability to manage a company, and as a result, Government always granted a big project to him. If the Government doesn’t feel confident with Syed Mokhtar effectiveness, he might not able to take over MMC, DRB-HICOM and Tanjung Pelepas Port. These are also an example of how Syed Mokhtar proves his effectiveness. Syed Mokhtar is a good example on how NEP can help Bumiputra become major role in Malaysia economic. It is just a matter of whether we are brave enough to get involve. To be a good leader, we must maintain four elements of skill which is plan, organize, lead and control. Good leader always practice good traits and behavior. Lead change in the organization Syed Mokhtar also practices changes in his leadership as it is crucial to survive in business environment if he did not change. When Syed Mokhtar starts to invest in Middle East, Syed Mokhtar already makes a change in the way he conduct his business. He has to think global and not just concentrate on local. These are some prove to show that Syed Mokhtar also practice  changes in his leadership. In order to become major player in the global market, Syed Mokhtar has to change to adopt with the global market and global requirement. He always respects other people values even though they come from different raise or religion. By practicing change on his attitude, Syed Mokhtar always able to adopt with the difference with others. When Tun Abdullah Ahmad Badawi took over Tun Dr Mahathir Mohamed position as Mlaysia’s number one leader, Syed Mokhtar also have to make change in order to maintain his role as business player. He observes the policy maker and adopt with the situation. Syed Mokhtar always aware with the government policy and take advantage from the policy introduces. He always manage to seek opportunity to expand his business. These need change in his leadership style or he may not succeed. Derailment Every leader has the strength and weakness. Nobody is perfect. However, derailment can be cover up by leader action on the issues. Syed Mokhtar also has a derailment. One of the examples is, he did not value precisely his ability to involve in property development before h enters the industry. As a result he did not survive when world was hit with economy down turn. He learned a good lesson from it. Syed Mokhtar should good consider a lot of factors before joining property development industry and yes he did that when he reenter the industry. This time he is well prepared. Another thing that shows his derailment is when he wants to purchase MMC with a premium price. His valuator has advise him not to proceed with the purchase MMC with the higher price as they already calculated the impact on his business empire. However, Syed Mokhtar did not listen to them and proceed with the purchase. Even though Syed Mokhtar knows that buying MMC only will reduce the revenue of his business empire, but Syed Mokhtar still feel his duty to help the government. MMC is like a Malaysian pride. Syed Mokhtar should listen to his expert as he already empowers them to make a study. But in this case, Syed Mokhtar uses his intuition. Syed Mokhtar also misuses his power on the company he holds. This can be one of his derailments. Minority shareholders of his company lodge a complaint in the general meeting asking explanation when Syed Mokhtar takes 20 million of his company profit and contributed to his own foundation, Yayasan Al Bukhary. The minority feel  that Syed Mohtar should have not do that as it is the company hard earn money. However, Syed Mokhtar always feels that some of his income is other peoples share and he share with the poor and needed people through his Yayasan Al Bukhari. Even though, there are minority shareholders, Syed Mokhtar should get their concerned when make decision on company money. Syed Mokhtar should use a persuasive approach to get the minority approval on the issue. A clear information should be given to the minority shareholders on how Yayasan Al Bukhari run and how the fund being distributed. Conclusion Imagine how a poor village boy can become a business tycoon and consider 8th Malaysia’s richest person. He builds his empire from the very bottom and throughout his hard effort. If Tan Sri Syed Mokhtar doesn’t have a world class leadership in his, it is difficult for him to become as at now. He may not get a perfect formal education, but he learns through experience. Syed Mokhtar always willing to learn a new think and he evolve accordingly. He builds his own success and at the same not forgets where he comes from. He holds a positive value in himself and that make him as a respectful leader. Syed Mokhtar has a strong heart and determination. He proves that he also can compete with superior competitor. The most important thing he did not forget from where he begins his empire. He always holds in Islamic value in doing his business. Syed Mokhar always believes that everyone can achieve something if given fair chances. That is why establish Yayasan Al Bukhary, to help the poor and needed people. References