Credit Risk Research Paper Example | Topics and Well Written Essays - 1000 words

Credit Risk - Research Paper Example The following part of this paper will make one aware of the concept of credit risk in detail. Credit risk-background The last few decades witnessed the collapse of some major banks as a result of borrowers’ credit repayment failure. Hence, many of the world’s largest banks and other financial institutions have developed comprehensive systems in order to deal with credit risk arising from different aspects of their businesses. The main objectives of such systems involve the identification, quantification, aggregation, and management of credit risk exposures. In modern days, those systems constitute a major part of risk management and performance measurement. Circumstances of credit risk Credit risk issues mainly include lost principal and interest, diminishing cash flow, and rise in collection costs. The credit risk arises in a number of situations and some of them are described below. A business or consumer fails to pay the amount due on a mortgage loan, credit card, or other loan. A business or consumer makes no payment due on a trade invoice. A business fails to pay a worker’s earned wages when due. A government bond issuer does not pay the amount due on a coupon or principal payment. An insolvent insurance company does not make a payment due on a policy obligation. A government sanctions bankruptcy permission to an insolvent business. Types of credit risk The credit risk is mainly of three types including default risk, credit spread risk, and downgrade risk. Default risk: When companies or individuals are unable to make payment due on their debt obligations, it is called default risk. Lenders and investors are vulnerable to default risk in all forms of credit extensions. In order to mitigate the issues associated with the default risk, lenders often charge return rates that equals the debtor’s level of default risk. Credit spread risk: According to Fabozzi, when an issuer’s obligation performs inefficiently relative to othe r bonds as a result of an increase in the credit spread, it is called credit spread risk (638). When the credit spread increases, it leads to a proportional decline in the market price of the bond issue. Downgrade risk: as Fabozzi points out, an unexpected downgrading of an issue results in an increase in the credit spread and it subsequently leads to a decline in the price of the issue (638). Such a risk is known as downgrade risk; it is very closely related to credit spread risk. Assessment of credit risk Nowadays, a variety of improved sources and sophisticated programs are applied to evaluate and manage credit risk. Some companies have established separate credit risk departments to examine the financial potency of their customers and sanction (or not) credit accordingly. Such departments conduct in house programs to effectively deal with the avoidance, reduction, and transfer of credit risk. Standard & Poor’s, Fitch Ratings, and Dun and Bradstreet are some of the example s of organizations providing credit risk management services for a fixed fee. Majority lenders use their own models to determine and class existing as well as potential customers on the basis of risk and thereby to apply most suitable strategies. In case of products like unsecured personal loans and mortgages, lenders usually charge relatively higher price for higher risk clients in order to secure the transaction to some extent. In

Digestive Enzyme Experiment Essay Example | Topics and Well Written Essays - 2000 words

Digestive Enzyme Experiment - Essay Example There are two (2) main reasons why the digestion of starches starts in the mouth (i.e. salivary amylase) and eventually stops as soon as the partially digested starches could reach the stomach. First, it is important to know that digestion of food nutrients can occur using either mechanical digestion or chemical enzymes and that starch is a polysaccharide that can be digested only via chemical reactions (Eliasson, 2006, p. 475; Sullivan and Cooley, 2004, p. 45). Second, the stomach is responsible for mechanical digestion (Rechtman, 2004, p. 114). Since starch cannot be digested mechanically, it is impossible for starch to be digested in the stomach. Basically, starch is a good example of complex carbohydrates (Shetty, 2010, p. 24; Chopra, 2005, p. 91). Because of the long chains of glucose that are heavily tied up together, carbohydrates such as starch can only be broken down by enzymes such as the salivary amylase (Sullivan and Cooley, 2004, p. 45). Eventually the reaction of saliva ry amylase can break down starch into a much simple carbohydrates which then can be absorbed in the small intestine (Eliasson, 2006, p. 475). In general, salivary amylase is not the only enzyme that can be use to digest starch. Other enzymes such as the pancreatic amylase as well as maltase can also be used in the chemical digestion of starch (McGuire and Beerman, 2013, p. 130; Eliasson, 2006, p. 475). For instance, as soon as the pancreas releases pancreatic juice like pancreatic amylase, it can further break down the polysaccharides.

Empirical Analysis On The 7ps Of Pizza Hut Marketing Essay

Empirical Analysis On The 7ps Of Pizza Hut Marketing Essay Abstract and aim By using personal survey questionnaire, 150-200 students of City University of Hong Kong will be asked, in order to find out the competitive advantage of Pizza hut and compare with Spaghetti House for places to buy food in names and addresses from Hong Kong Island, Kowloon and New Territories. Addresses were area code to census tracts. Based on individual factors are traditional explanations for the inability of some people to change dietary habits. This study examines the food service by Pizza Hut and its competitive advantages over Spaghetti House Aim This work aims to find out the successful factor of other competitors and to provide suggestions and evidences in order to increase the sales and profits of Pizza Hut by improve Pizza Huts services and its competitive advantages. Background / outline Hong Kong is an international city. There are seven million residents and lots of tourists would love to shop in Hong Kong thus there are different social cultures exist including diet habit. Foreign food is playing an important role in Hong Kong to suit customers different needs. There are a lot of western restaurant in Hong Kong such as, Spaghetti House, McDonalds, Kentucky Fried Chicken (KFC) and Pizza Hut etc. Lots of people especially teenagers like Pizza Hut very much, they love to eat western foods, so Pizza Hut attracts a bulk amount of regular customer for a long period. Pizza Hut is an American famous restaurant chain, offering different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread, Pizza Hut is a subsidiary of Yum! Brands, Inc., the worlds largest restaurant company, with approximately 34,000 restaurants, delivery-carry out units, kiosks in 100 countries. Pizza Hut has been serving Hong Kong for almost 30 years. The first Pizza Hut restaurant opened in Hong Kong in 1981 with its first delivery service began in 1992, while the business of Pizza Hut is still increasing every year. Since 1987, Hong Kong Pizza Hut franchise has owned by the Jardine Matheson Group. At present, Hong Kong Pizza Hut has a total of over 70 branches and more than 3000 employees. The main competitor of Pizza Hut is Spaghetti House. Spaghetti House is also a famous western restaurant in Hong Kong. The menu of Spaghetti House is similar to Pizza Hut; its target market is a little different from Pizza Hut. Pizza Hut vs Spaghetti House  ¼Ã… ½Which one is more famous?  ¼Ã… ½Which one do customers prefer?  ¼Ã… ½Which products are more competitive? We hope to find the answer during this project. In this project, well analyze the 7Ps of market strategies of Pizza Hut and take the personal survey in order to find out the competitive advantage of Pizza Hut and the comparison with Spaghetti House in Hong Kong. More, we can also know that which one is better and more famous. Secondly, we focus on physical evidences from customers opinions to improve the environments of both restaurants. Finally, we refer to the result gained from questionnaires to make the recommendations and suggest new marketing strategies to Pizza Hut for the improvement. Objective and research questions Study the demographics of target customers Determine which attributes of pizza are the most important to the customers Determine the preference of product package by the customers Determine the acceptance of new products by our target customers Identify the purchase behavior of the customers Identify which promotion channels are the most effective Measure the satisfactory level of customers towards Pizza Hut Critical Literature Review Western fast food chains development and impact in Asia Majority scholar to believe food is more affected by culture to restrict in consumption product. As far as relatively other products concerned, that is more difficult to change the customers behavior such as U.S breakfasts manufacturer Kelloggs to spend 20 years time in Japan, ability success to entry use as major rice and kelp soup make breakfast of consumption market. Some country and district such as Japan and Hong Kongs children as regards coke, pizza and spaghetti etc foreign countrys food never again, but that local food is accompany children to grow and combine in local culture. From the above, Pizza Hut can identify market opportunities and develop targeted promotion plans. Therefore, research and development professionals stay on HK of competitor initiatives and explore demand for fast food products. Advertising agencies working with clients in the food industries understand the product buyer to develop messages and images that compel consumers to purchase Italian food products. Business development executives understand the dynamics of the market and identify possible partnerships. Finally, information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively. A 360 ° View of Fast Food and Impulse Habits Here has huge market growth potential for manufacturers and retailers to development in fast food chains and fast food services. According to the ACNielsen survey result, citizens average monthly purchase frequency in fast food, impulse food and drinks is around 20. Monthly Purchase Frequency for Impulse Food and Drinks in Hong Kong In addition, in a global consumer survey conducted over the Internet by ACNielsen in October 2004, 30 percent of Asia Pacific consumers claimed to eat takeaway at least once a week, closely behind the US (33%). As the result, eight of global top tens fast food consumption market from Asia Pacific, and Hong Kong ranks is the worlds No.1, have a fast food than traditional 26% higher than the United States , hard upon is Malaysia (59%) and the Philippines is 54%, 12% said never again to eat fast food, have 35% eat fast food even more. ACNielsens data also showed that although in the United States have 97% of adults do not mind eat fast food, but this data has also been Asia exceeded. From this result, fast food culture can popular in Hong Kong is about the Hong Kong peoples to demand fast and convenient lifestyle. Many people require swift and convenient, hurried cadence of life may not have time to cook at home, it affects our lifestyle, make to popularity of fast food culture in Hong Kong. As the same time because of the convenient location, the price is cheaper. In additional, because may about Hong Kong peoples personality, most are not satisfied to spend too much time on waiting. However, teenagers usually to eating fast food more during the noon or after school. While an adults to eat breakfast is out of home that provides an opportunity for suppliers and retailers. So, fast food culture is the most sales in Hong Kong. Top 10 Global Markets for Weekly Fast Food Consumption Hong Kong 61% Malaysia 59% Philippines 54% Singapore 50% Thailand 44% China 41% India 37% US 35% Australia 30% New Zealand 29% Source: ACNielsen Online Survey, October 2004 Modeling repurchases frequency and customer satisfaction for fast food outlets In this competition environment of Hong Kong, leading the company is necessary customer that requires spending many resources to enhance customer loyalty and satisfaction with the company. Therefore, the company need understanding what factor is affect customers behavior and satisfaction, and then try to improve the customer services quality in the fast food industry, thus help make more loyalty customers. Improving service quality has become one of the most important strategies a service provider can use to differentiate itself from its competitors and thus position itself more effectively in the marketplace (Cronin and Taylor, 1992). Rust and Oliver (1994) suggested that quality is one dimension on which satisfaction is based. Although many studies provide a theoretical basis for studying the relationship between waiting time, consumer satisfaction and return frequency, they have failed to investigate the relationship between waiting time and the return frequency. The aim of this study is to investigate the impact of waiting time and other service quality factors on customer satisfaction and return frequency in the fast food industry. As waiting time appears to be a vital factor of the services in fast food operations, therefore, fast food industry is chosen for our research purpose. Based on a survey of fast food outlets, we formulate a repurchase frequency model and a satisfaction model. The repurchase frequency model describes the relationship between the number of return visits and service quality factors including waiting time. The overall satisfaction model describes the relationship between the customers overall satisfaction level, the waiting time and other service quality factors. These models will help managers to identify root causes for customer satisfaction and loyalty and thus enable them to make focused improvements in critical areas to improve profitability. Hong Kong fast food culture Hong Kong is a delicacies paradise, and also is a fast food paradise, various Chinese and Western fast food restaurant at Hong Kong everywhere, lunch take-out to office are also has good idea or business. Hong Kong fast cadence of life, high working performance, many things have to stress efficiency and effectiveness of demand. It is because fast food more emphasize fast, therefore many foods have prepared cooked and heating for consumers. So, fast food culture offers fast and convenient especially popular for peoples. Nowadays, the purposes to co-operate for healthy fashion, fast food already changed into emphasize foods quality and sustenance, many foods have consumer to pay or order then start cook. Therefore, foods will more fresh and higher quality than prepared cooked. At the other hard, fast food chain to be particular about decoration than before, show the high class and city lifestyle; Detrude of fast-food restaurants in recent years, hot pot, iron meals and other food types, making customers to stay longer in the fast-food restaurants, but also because of the fast-food restaurants to make food choices many more customers are willing to patronize fast food restaurants. A financial tsunami to assist development fast food industry Although global financial tsunami cause economic recession, but fast food always is catering trades exotic flowers, Pizza Hut, Burger King, McDonalds and Kentucky Fried Chicken (KFC) these fast food chains have grow a business volume in this period. Cafà © De Coral, Pizza Hut etc. also want to development this period. Due to economic crisis affected unemployment and so on reason, thus affected consumers confidence. However, relatives enhance of fast foods attraction, increasing peoples in order to save times or money abandoned traditional restaurant meals, and tend to choice fast food. Therefore, fast food chain has obtained more market. Form the above; Pizza Hut should continue its diversification strategy to gain more market share. It should incorporate or develop healthier food include low-carbohydrate pizzas to satisfy the needs of different customer. If it is able to stay ahead of the competition in this aspect, they will have a strong competitive advantage over other companies. Service quality in the fast food industry Service quality has become a predominant part of all advanced organizations strategic plans. Increasing attention paid to service quality has resulted in more progress and profit for organizations. At an international marketing level, in a struggle for a share of market, managers have to understand and know how to modify their operations for success in the various cultures of Hong Kong. From the above reason, can organization provide good service; staffs quality and skills have important influence. Therefore, enhance staff with the training and improve the quality of services, Including improves the quality of staff and customer service and provide effective services such as staff is advised to review the guests a la carte in order to reduce opportunities for error, the menu and dishes can be coded to facilitate data input, restaurant customers should be informed in advance of waiting or cooking time and adoption a recognized service standards and guidelines etc. These can be satisfying consumers needs and attraction their have to patronize. Research methods/ Methodologies Category Options The degree to which the research question has been crystallized 1. Exploratory study 2. Formal study The method of data collection Monitoring Communication Study The power of the researcher to produce effects in the variables under study Experimental Ex post facto The purpose of the study Reporting Descriptive Causal-Explanatory The time dimension Cross-sectional Longitudinal The topical scope Breadth and depth of the study Case Statistical study The research environment Field setting Simulation The participants perceptional awareness of the research activity Actual routine The main purpose of our study is needed to find out the comparison of Pizza Hut and Spaghetti house. We need to collect the primary data and secondary data to analysis Pizza Huts 7Ps mainly. (Product, Price, Place, Promotion, People, Process and Physical environment) First, we collect the secondary data from internet to know backgrounds, histories, objective, and the annual reports of Pizza Hut and Spaghetti House etc. Then, we collect other useful information on the internet. Afterwards, we go to libraries to find books such as population information and literature. After that, we use Self- Administered Surveys (Intercept and computer) and Personal Interview (Questionnaire) to collect the primary data. Indeed that information is related to our objective. To collect primary data, we will design a set of questionnaire about 7Ps. The method is taken by samples in Hong Kong (different regions in Hong Kong, Kowloon and New Territory). The proportion will be 60:80:60, a half of male and female. It can be avoided unfair saturation. The sample size will be 200 that it can be reduced bias. The age distribution limits are 10 to 40. Our survey method is face-to-face interview, after the interview well give them a gift. (Such as coupon) We can understand Pizza Huts competitive advantage through information and make the recommendations on new market strategies for Pizza Hut for further improvement. However, we have limited information in secondary data. In conclude, our information mainly come from primary data. Secondary data is collected from other peoples or organizations, general major secondary datas sources are internet and daily, moreover including survey, census and companys records. However, the primary data is reversing the secondary data, its major used in survey research works. Secondary datas advantages is save more collect datas time, because many background work may carried out or complete, such as some reviews and case studies was carried out, statistics and published book may used to media promotion. And about the secondary datas disadvantages, because the data sources not every is trusty, even authorities data may undependable. Secondary data can be obtained from two different research strands Quantitative and Qualitative. Quantitative included housing, social security, census and other related databases. Qualitative included focus groups transcripts, observation records, structured interviews, semi-structured, research-related documents and other personal. Any required respondent to complete the questionnaire by oneself is referred to as a self-administered survey. The most survey method is via use internet, fax, newspaper and e-mail, or via restaurant and shops feedback form. According to this self-administered survey is require some inaccurately questionnaire considerations, because have some respondent may cause sensitive question or other special reason thus to indiscriminate answer the questions. Self-administered surveys advantage is using anonymous form to answer the questionnaire, thus make the questionnaires answer have more effective and true. At the other hard, can make respondent more convenient to answer, and can eliminate the bias, the cost is more than telephone and personal interview cheaper. However, the most of self-administered survey also not actual to control who to answer questionnaire, the respondent may read other part of respondents answer, thus affect their feedback. A personal interview is one of direct research method that allows face to face conversation between an interviewer and the respondent at home, in shopping centers or everywhere. The use of personal interviews provides interviewers with opinions, and the process of interaction via understanding. Personal interviews allow analyses of thoughts, attitudes, behaviors, and opinions that have a high level of content validity (Babbie, 2006). Personal interviews are an appropriate qualitative data collection methodology in a variety of settings including exploration of issues in sensitive areas such as internal agency evaluations or internal agency satisfaction studies. Personal interviews allow participants to share qualitative information in a manner that allows freer expression of ideas and opinions. Advantages of personal interviews: 1. Qualitative data obtained from small sample. 2. Rapport leads to fewer refusals. 3. In-depth answers possible. 4. Observation improves accuracy. Disadvantage of personal interviews: 1. Invasion of privacy. 2. Interviewer bias. 3. Cost: Professional Interviewer expensive. 4. People not at home. 5. Can be slow and time consuming. 6. Postal surveys: Distributing or mailing door to door a written questionnaire to a sample of buyers for their completion at home or at work. Project Plan/Gantt Chart

The Uncertain Future of Quebec Culture :: Canadian Culture Essays

The Uncertain Future of Quebec Culture Gaetan Tremblay, a professor of communications at the University of Quebec at Montreal and deputy manager of the Group of research on cultural industries and social computerization (GRICIS), is a leading researcher for public policies in the field of communications. Tremblay is an advocate of public policy that defends against cultural imperialism by countries such as the United States . In particular, Tremblay studies the effects of the media on culture in Canada especially in a province like Quebec which is distinct from the rest of English Canada. Tremblay's article on the Americanization of Quebec culture is slightly more than a decade old, yet most of the information he provides is still relevant today. In his article, Tremblay takes a look at the invasion of Quebec 's airwaves by American content. His title refers to a belief in his mind that the Quebecois culture will one day be integrated into that of America , which in turn will lead to Quebec throwing itself into the melting pot of American culture. The first part of the article concerns policy, the never ending promotion of identity by the Quebecois. Tremblay calls for an all out communications policy that would protect Quebec . He goes on to contend that a policy is not only useful, but that it has becomes more necessary with each passing day. However, Tremblay has ignored the fact that Quebec culture is already protected in part by the Canadian constitution. From the beginning, the Canadian federation has provided guarantees, for the Quebec language and culture. â€Å"The Constitution Act, 1867 contained specific provisions designed to protect Quebec 's distinct culture and language† (Nicholson, 2003) Canada has always given guarantees to protect the Quebec culture, a policy would be nice but it is not an absolute must have as he portrays. Tremblay then moves on to say, that U.S Department of Commerce would like to deregulate the communications industry and how horrible this would be for Canada . He points out that onc e this happens the U.S will pressure Canada to do the same. Yet, he seems to forget that Canada is a sovereign nation that does not have to give in to U.S pressure. Canada sets its own policies without being influenced by others. It has and will always be this way. Quebec is already officially recognized as distinct, it is entrenched in the constitution.

Staff Training And Development Essay

Sustaining Effective Staff Training And Development Essay IntroductionWhat is training and development?Training and development is a concept in management which allow the organisational activity to be aimed directly at performance of individuals, groups and the organization (Landale, 1999). There are three main activities under the guise of training and development which are interlinked – training, education and development. It is not just the role of the employer to identify training and development needs, the employee also needs to be able to identify their role in the organization and how they can effectively develop themselves (Landale, 1999). Van der Bossche et al (2010) acknowledge that due to the rapid advancements in technology and knowledge require the individual to participate in personal and professional development. The development of talent within the organization is necessary for competitive advantage to exist, it is also necessary for the retention of employees. The organization needs to identify talent and to support the individuals through all their training needsStaff Training and Development is described asthe necessity to cover the essential skills used in the everyday work situation. Within the promotion of training and development, the individual needs to be focused on the goal of developing their skills, knowledge and understanding of how the organization exists within its environment (Jerling, 1996). If the manager can motivate the employee in their work and can encourage development then the employee will see it in a positive light and will work towards the goals.I I Background Having effective employees is instrumental to the success of any business organization. This is the case because of the high employee turnover rates and high unemployment rates evident in most countries. Since the 2008 recession in the U.S, other countries of the world have experienced the ripple effects as the world largest economy struggles to recover. The European nations have suffered under the current debt crisis that has shrunk economies in Europe. Other countries in African and Asia have also felt the impact, as their economies are most dependent on both the U.S and European markets for trade. The subject of having effective employees has therefore, gained relevance as employers look for ways to sustain their workers. In an effort to keep their most important asset, organizations are heavily involved in the training and development of employees (Hung &Wong 2007). Training and development has been a tool used by organizations to mitigate the risks of losing employee to other or ganizations. It has also been used to groom future leaders of the company, as well as assist organizations in saving time and money. This essay shall discuss two theories that discuss employer support and training, as well as the impacts of employee performance in relation to training and development of employees.III Development Humphry Hung and Yiu Wong have come up with two theories that discuss the relationship between the employer and the workers when it comes to training, continuing education and work study performance (Hung and Wong, 2007). The theories were introduced because of a case study of Hong Kong students who were in school and worked at the same time. The authors then came up with the theories to help explain the student or employee’s performance in relations to their employees and employer relationship (Hung and Wong, 2007). The first theory was the psychological contract theory while the second one was the expectancy dis-confirmation theory. The researchers realized the need for employees to have an education so that they are able to move up the ladder as far as the work force is concerned. The researchers used the employee and employer relations as the subject of research, and came up with a model to explain how training and development can be effectively used in the workplace (Hung &Wong2007).Psychological contract theoryAccording to the psychological theory, the employer and the employee have a set of beliefs, promises and obligations that go beyond the formal contract between the two. This psychological contract theory is attributed to the second wave of research in this subject, namely where the basis is a mutual loyalty between employees and organization (Hall and Moss, 1998). The elements of the third wave of research on the psychological contract, which measures the attitudes and perpceptions of employees towards organization are demonstrated below (Robinson, 1996). In other words, once an employer hires an employee, the employee has to abide by certain rules while the employer is obligated to behave professionally. This means that the employees expect to exchange their loyalty and productivity for wages and other forms of compensation (Kimberly 2009). This theory may be regarded to be limited in delivery of depth of investigation of relations between organization and employees (Robinson and Morrisson, 1995). This suggests that recent research has failed to acknowledge the fact that psychological contact theory is more multi-dimensional as opposed to what has been presented in the research (Trunley and Feldamn, 1999a). As a result, there were two kinds of contents presented, namely transactional and relational. Transactional content involves measurable economic exchanges between the two parties. For instance, an employee works 40 hours a week for a paycheck at the end of the week. Relational contents are based on trust and long-term relationships. In such a case, an employee can delegate a certain role to the employee based on trust (McConnell 2004). In the study, three principles can emerged. First, there is interaction at an individual level, mutual relationship between the two parties and finally tactical exchanges. Most people believe that the relationship between the employee and the employer is based on personal ties because the employer is an embodiment of the organization, and the experience of their interaction dictates the success of an organization (Hung &Hing 2007). On the other hand, some believe that there has to be a mutual relationship between the employer and the employee for organizations to succeed. The mutual obligation is based on the belief that the employer is obliged to the employee in return for a commitment. Finally, the tactical exchanges occur between the workers in which case, the employee insists on a mental connection between the two parties (Kimberly 2009). The significance of the psychological contract theory is that it attempts to explain the employee’s behavior in regards to how he is treated by the employer. In other words, the employee relationship to the employer is imperative to matters regarding how employees react when subjected to training by organizations. The development of the employee dictates the performance of the employee in the continuing work-study. The research found that students who had a good working relationship with their employer performed well in their training and education compared to those who had a bad relationship (Hung &Hing 2007). Another limitation is attributed to the assumption, that psychological contact theory fails to address the specifics of individual work behaviour (Robinson, 1996a). From methodological perspective, this theory was developed on the basis of employee’s self-appraisals. As a result, it failed to include the actual supervisor’s appraisals, which are perceived to be quite crucial in delivery of objective opinion on the subject of job performance (Keeney and Svyantek, 2000).Expectancy disconfirmation theoryThe expectancy disconfirmation theory is similar to that of consumer dissonance. Only that in this case, it deals with the employee, as opposed to the consumer. The theory was brought about from the comparison of a worker and a consumer when dealing with their products. An employee is believed to have positively disconfirmed their role in the organisation when their perceived performance exceeds their expected performance (Roughton&Mercurio 2002). The opposite is true and r eferred to as negative disconfirmation. Negative disconfirmation occurs when an employee believes that their expectations exceed their perceived The ability for the organisation to be able to sustain effective staff training and development in the workplace is a necessity in the global market. The purpose of this paper is to reflect on training and development in the workplace (Venkatesh and Goyal, 2010). Other considerations which must be taken into consideration when discussing this topic are in relation to the culture and structure of the organisation as well as the importance of communication and the impact of the leadership styles on the overall behaviour of the organisation (Venkatesh and Goyal, 2010). The global market has allowed the transfer of skills and knowledge through migration and the internationalisation of organisations. Training and development are important to how the organisation can compete in the market, if the organisation can sustain their employees through training and development they will be able to compete in the market. The effectiveness of employees will prove to be a valuable asset to the organisation and it is important that the organisation holds on to their employees (Klein, 1998). It has been argued that the resources of an organisation are the key sources of competitiveness. There is a need to examine the background of the organisation – culture and structure to see how these can determine how the organisation perceives training and development opportunities within the organisation. This theory has also proved to have some limitations attributed to it. This implies that it has been a subject to limitations imposed on the methodlogical approach. This implies that there have been some concerns reported in relation to the measurement of expectations that have been met (Irving and Meyer, 1999). This implies that direct measurement which is utilized in prediction of the disrepency between the expectations in relation to the job and actual behavioural intentions (Irving and Meyer, 1999).Strategic ManagementStrategic management is an essential process which needs to be considered in any organisation. Thompson & Martin (2005) explain the process as being concerned with organisational actions and activities which identify and deal with threats, opportunities etc in both the internal and external environment. How strategic management is managed shows how well the organisation can adapt to change and how training and development will be welcomed in the organisational conte xt. Lamb (1984) states that strategic management assesses competitors of the organisation and sets goals and strategies which can be seen in the context of training and development and how the organisation views the importance of its employees. One of the most important strategic processes is the practice of retaining employees. It is best practice to keep the skills and knowledge available to the organisation to remain competitive and to be able to recruit the most talented individuals in the market. If an organisation has the pick of the talent through their recruitment process they can sustain their competitive advantage which will allow them to compete consistently. The type of culture is reflected through the recruitment and selection processes as well the organisational structure and culture. If an organisation can effectively train and develop their workforce as well as retain their employees. Performance management and a competitive incentive programme can enhance the ability of the organisation to select and recruit the individuals they want to recruit to positions and not just because they have to fill the position (Phillips & Pulliam Phillips (2002). Lambin (2000) defines the strategic process as allowing management to identify advantages and disadvantages. It will be important to identify the advantages and disadvantages of training and development further on in this paper but it is extremely necessary that these are identified so that the organisation can identify the skills and knowledge which they require in their organisation. The human element to the resources of the organisation are extremely important, Armstrong (2006) cites that the skills and competencies identified within the human resources process need to meet the future demands and challenges of the organisation and the environment. It will be necessary for the organisation to meet the pressures from the competitive environment and it should be prepared for this. Most organisations would not be able to function effectively in their environment without sustaining effective training and development in their workplaces. It is important that employees can be motivated i nto performing and target meeting.Organisational CultureThe culture of the organisation is an integral factor of organisational activity. Holbeche (2006) believes that there are issues linking corporate social responsibility, accountability and the stakeholder environment. The culture of the organisation will impact on the behaviour of the employees in reference to how they behave, their work attitudes, the ability to embrace change and how the organisational objectives are achievable or not. Motivational theory is extremely important (Alderfer, 1969, Vroom, 1964, Maslow, 1943, Herzberg, 1966) link the goals of the organisation to the performance and achievement of personal goals which in turn can be fuelled by how skilled and knowledgeable the individual is. The culture of the organisation can be linked to success through the achievement of the competitive advantage. Deal & Kennedy (1982) believe that the most important factor for the success or failure of the organisation is the c ulture. Culture by its very nature is implicit of behaviours within the organisation. Leadership and management are also essential to the understanding of culture and how it affects all mechanisms within the organisation (Rabey, 2003). This is also essential to the concept of training and development within the organisation as the development of management within the organisation, as the leadership role needs to grow both personally and professionally thus the impetus is on the development through training and development. The leader plays a role in the development of the organisation and if this individual is in tune with the development and training of the human resources, the organisation will embrace this concept. Schein (2004) reflects that the leadership and culture are inseparable. Structure is also important to the training and development environment within an organisation. The more rigid the hierarchical structure the less likely the culture will embrace training and development p ractices. While many organisations realise the need for progressive training and development it should be noted that not every organisation is a learning organisation (Schein, 2004).LeadershipIt is necessary to understand leadership as a concept before attempting to evaluate training and development. The development of the leader, according to Pedlar et al (2003), is that the concept is based on unexamined assumptions. There is no single definition of a leader, however, there are many attributes attached to leadership such as an ability to adapt, to make decisions, to be flexible and to be able to recognise skills within themselves and within others. The ability of the strategic manager is to be able to create an environment where employees want to participate and make a significant contribution to their role in the organisation. It is through this communicative process that the leader can identify the development requirements of the employee. The employee should be able to trust t he judgement of the leader to allow them to participate in any programmes for development and learning within the organisation (Rabey, 2003). It is also necessary that the leader can identify any developmental needs in their own career progression. If the leader is forward thinking they will bring the organisation into line with the requirement of the selection and recruitment process to enhance the competitive nature of the organisation. The performance of the individual is impacted by the authority figure in the organisational relationship and can be highly influenced by the use of incentives. One such incentive which can be used to motivate the employee is that of training and development opportunities. These types of incentives are extremely important in today’s global environment with the internationalisation of organisations and the free movement of the workforce. The more skilled the workforce, the more ability the employee has to dictate their position within the organisation. This position allows the employee to hold some power over the authority figure as they can determine where they want to go in terms of their career and their development. Communication is key to this process so that the employee knows what kind of training is available to them and for the leader to be able to communicate the type of training which may best suit the employee. It is important that the leader can apply self development to themselves before they apply it to the individuals within their organisation and there should be an ethos throughout the organisation on lifelong learning .Learning OrganisationIn today’s global environment the concept of lifelong learning is extremely important and it is necessary for all employees to keep their development and learning up to date. The availability of learning to employees should be a pre-requisite to any organisation who profess to be a global leader. It is necessary for all employees to keep their skills, resources and knowledge updated so that they can compete in their business market. The markets while very dynamic and complex are also extremely competitive, and organisations are always looking for the right individual to take up a position within the organisation, who will ultimately enhance their competitive advantage (Lambin, 2000). Lifelong learning as a concept is not new, however, the concept of learning within the organisational context is very new. This allows the individual to learn around their own experiences. Both the organisation and the individual should be in synch with each other to allow their goals to be achieved. The service which the individual can apply to their customer greatly leaves a mark on the organisation as to how proficient it is in dealing with its customer. The ability of the organisation to provide professional training for their employees will successfully promote the organisation as well as the role of the employee. It is necessary that lifelong learning should be promoted more readily in today’s global markets due to the expansion of business and the free movement of employees to other countries. Lifelong learning can be provided throughout the organisation and does not necessary mean that it must be formal, it can be on the job training, but it should be used to encourage and motivate the individual. It is important to understand that the concept of lifelong learning is not without it disadvantages and within many organisations the facility is very much available. However, it is up to the individual to decide that they wish to partake in any programme, and also up to the manager to put the employee forward for training and development. This is very much about communication. Depending on how free flowing communication is, depends on the availability of these facilities. If the employee does not push for these opportunities they can hardly be expected to be handed the opportunity. However, the manager must communicate that these opportunities are available to the employee and explain the positive features for the employee. It is also necessary that the vision and politics of the organisation match the service and opportunities which can be given to employees. The need to preserve the abilities of employees within the organisation has become increasingly important, especially for the organisation to retain the skills, knowledge and resources which it currently holds. Lifelong learning can in effect change the labour market and the direction which the organisation is heading. Smith (2001) identifies the need of an organisation to be progressive, to allow the individual to gain more knowledge throughout their career and to persuade the individual to use the resources available to them for educational and growth purposes.Benefits of Training and DevelopmentTraining and development is a particularly helpful feature to the organisation as well as the individual. The process allows both the organisation and the individual to grow alongside with the global market. It allows the individual within the organisati on to recognise that they should be motivated to perform their job to the best of their ability because they can feel more valued by the incentives which they can receive from the organisation. There are many benefits to the organisation and the employee but it should also be recognised that there are also disadvantages to this. Lifelong learning does not necessary mean that the employee has to go off site on participate in in-house training, it also means a variety of opportunities within the organisation such as job rotation, secondment etc. These types of roles allow the employee to try out the role but also it means that they can avail of training in other positions within the organisation. This type of training can also motivate the employee as it can be seen as a performance reward for their hard work. It would seem in today’s environment, the emphasis would be very much on a culture of performance equals rewards. Other types of training and development include attending classes and online courses.Advantages and disadvantages of Training and DevelopmentThe advantages which can be beneficial to the organisation is the retention of the current employees who are competent in their positions and have the ability to take on new roles within the organisation. If the employee can be trained in other po sitions it will benefit the organisation when it comes to employees leaving, thus the need for an urgent replacement for the position is no longer made a priority as the organisation can often promote or second from within. This allows the organisation some time to proceed with the recruitment and selection process to allow for them to find the right candidate. This also allows the employee to try other positions within the organisation and to decide if they wish to apply for these positions. With these types of training and development opportunities, the employee gets an opportunity to experience other roles and they may also provide a monetary incentive such as a pay rise while they are in the position. The ability of the organisation to provide these types of roles will also allow the organisation to retain their workforce and the skills and knowledge which come with that. It also enhances the skills of the employee. While there are advantages to training and development, there are also disadvantages. These disadvantages are predominately to the organisation but those which are important factors to the employee are the amount of time they would have to spend on the training and they may not be fully aware of the training opportunities which are afforded to them. This could be due to a lack of communication within the organisation or that the organisation is not overly interested in the development of their employees. One major reason that an organisation may not provide training and development would be down to cost in time and money. It may not be convenient for the organisation to spent time and money on an employee when the end result could be that they lose the skills and knowledge of the employee to another organisation due to the training and development they received. This has become more common as employees are more empowered and acknowledge the freedom to move to another job, even to mov e to another country.How Training and Development is ChangingGarrison & Anderson (2003: p.i) state that ‘The growth of e-learning is being described as explosive, unprecedented, and above all, disruptive.’ E-learning is associated with providing a framework for understanding the application and to goal set. This method of learning has become increasingly adopted as technology is evolving and transforming work practices. Many organisations have acknowledged the need to change according to reviewing the values and culture of their organisations. It has become increasingly important for organisations to adapt to the new learning environment. Training and development has changed rapidly due to global expansion. The employee no longer needs to take time off work to participate in training. Along with on the job training, it has become cost effective for employees to educate themselves through online and DVD/ CD’s. Technology has afforded organisations and employees easier ways to participate in training and development. Study can take place at the workstation or at home rather than the traditional format where the employee had to leave the workplace and travel to a destination where they could be facilitated. This has become extremely cost effective for the organisation as they are not losing man hours when the employee is studying/ on their course and it also means that workloads are not high because the work is still being completed. Along with the rise in popularity of the Internet and its main feature, namely interactivity, the human resource managers have found out that this may be used to the advantage for training and development purposes (Venkatesh and Goyal, 2010). The internet, as an interactive and communication medium provides wider access to the information and enables distance learning for knowledge transfer purposes. This suggests that it is much easier to engage in learning programs from any location in the world, if an individual has an Internet connection (Venkatesh and Goyal, 2010). Additionally, it has been estimated that the Internet is associated with lower costs, imposed on the training and development strategies. This implies that the main costs are reduced in the areas of physical distribution of training and development programs and the need for hiring a specific staff in order to maintain those. Online training allow the individual to manage the training program by himself, where he is r egarded to be in control over the situation (Venkatesh and Goyal, 2010). Van Dam, (2002) suggests that online training is utilized in combination with the offline channel, suggesting that in the majority of cases, the users of the online training system tend to maintain an offline contact whilst receiving the necessary instructions. The online training system is mainly utilized for the development of computer skills, job-related skills and technical competencies. Recently, there has been an emergence of economic recession that has affected the planning and implementation process of training and development programs. This implies that economic recession has made the companies to reconsider their costs and thereby plan the cuts, where necessary. CIPD, (in EWCO, 2009) has estimated that the performance of the majority of companies in the previous 12 months has been worsened. With regard to training and development, it has been estimated that 32 % of surveyed companies have reported cuts in the training and development budget in the previous 12 months. However, in the light of recession, despite the imposed cuts in budget, the majority of companies has estimated that training and development has not been viewed as an expendable commodity. This implies that the management of the companies still view training and development programs as the key priority for company’s achievement of organizational objectives (CIPD in EWCO, 2009; Bourke, 2009) . This suggests that there is a great potential for further investments in training and development programs, given its significance in the corporate world.Methods used in Training and DevelopmentThis type of training also encourages the employee as they can do all their study with the use of a pc and can do it during working hours at their workstation. It also allows the employee to have more say in their development and to enhance their skills. The use of IT has allowed the development of more globalised skills which are transferrable. It is also appropriate for the organisation to provide the employee with the information about training and development opportunities which is extremely easy compared to how the traditional methods had been. The employee and the organisation can research the courses/ training and development opportunities. The manager has the ability to distinguish worthwhile courses/ training opportunities according to the need of the employee with the use of IT. T his is where the ability to communicate and identify the individual needs of the employee as well as their own needs. References 1.Alderfer, C.P. (1969): An Empirical Test of a New Theory of Human Needs, Organizational Behaviour and Human Performance, Vol. 4, Issue 2, May, pps. 142-175 2.Armstrong, M., (2006): A Handbook of Human Resource Management Practice, 10th Edition, Kogan Bourke A. (2010). ‘Recession Affects Training and Development Programs’. Available from: http://www.aicpcu.org/MediaCenter/docs/articles/Recession_Affects_Training_and_Development_for_Web_10-09.pdf. Last Accessed: 13th Feb. 2012 CIPD in EWCO (2009). ‘Impact of recession on workplace training’. Available from: http://www.eurofound.europa.eu/ewco/2009/09/UK0909039I.htm. Last Accessed on 13th Dec. 2012 3.Deal, T.E., & Kennedy, A.A., (1982) :Corporate Cultures: The Rites and Rituals of Corporate Life, Harmondsworth, Penguin Books 4.Garrison, D.R., & Anderson, T., (2003) :E-Learning in the 21st Century, RoutledgeFalmer, Taylor & Francis Group Hall, D. T., & Moss, J. E. (1998). ‘The new protean career contract: Helping organizations and employees adapt’.Organizational Dynamics, 26, 22–37. Herzberg, F. (1966) :Work and the Nature of Man, Staples Press Holbeche, L. (2006), Understanding Change: Theory, Implementation and Success, Elsevier Butterworth-Heinemann Hung, H. & Wong Y. (2007), ‘The relationship between employer endorsement of continuing education and training and work and study performance’: A Hong Kong case study’. International Journal of Training& Development, 11, 4, pp. 295-313. Irving, P. G., and Meyer, J. P. (1999). ‘On Using Residual Difference Scores in the Measurement of Congruence: The Case of Met Expectation Research. A Longitudinal Analysis’, Personnel Psychology, 52(1), pp. 85-95. Jerling K. (1996). Education, Training, and Development in Organisation. Pearson: South Africa Keeney, M. J., & Svyantek, D. J. (2000). ‘A review of psychological contract theory and research: Promise nothing and they still may get angry’. Current Trends in Management, 5, 65–94. Kimberly, W. 2009, Value Initiatives Improving Performance in the Workplace. NY:GRIN Verlag 9.Lamb, R., (1984) Competitive Strategic Management, Prentice Hall 10.Lambin, J.J., (2000) Market-Driven Management: Strategic & Operational Marketing, MacMillan Business Landale A. (1999). Gower handbook of training and development. 3rd ed., Gower Publishing: UK 11.Maslow, A.H. (1943), ‘A theory of human motivation’, Psychological Review, Vol. 50 No. 4, pp. 370 – 396. 12.McConnell, C. R. 2004, ‘Managing Employee Performance’, Health Care Manager, Vol. 23, No. 3, p. 273, Supplemental Index. 13.Pedler, M., Burgoyne, J., & Boydell, T., (2003) A Manager’s Guide to Leadership, McGraw-Hill Phillips, J.J., & Pulliam Phillips, P., (2002) Retaining Your Best Employees: In Action Case Study Series, American Society for Training and Development Rabey, G., (2003) The Paradox of Teamwork, Industrial and Commercial Training, Vol. 35, No. 4, pp. 158 – 162 Robinson, S. L. (1996). ‘Trust and breach of the psychological contract’. Administrative Science Quarterly, 41:574–599. Robinson, S. L., &Morrison, E.W. (1995a). ‘Psychological contracts and OCB: The effect of unfulfilled obligations on civic virtue behavior’. Journal of Organizational Behavior, 16: 289–298 Roughton, J. &Mercurio, J. 2002, Developing an effective safety culture: A Leadership Approach. NY: Butterworth-Heinemann 17.Schein, E.H. (2004): Organizational Culture and Leadership, Jossey-Bass 18.Thompson, J.L., & Martin, F., (2005) Strategic Management: Awareness and Change, 5th Edition, Thomson Learning 19.Smith, M. K., (2001) ‘Peter Senge and the learning organisation’, the encyclopaedia of informal education, available online at www.infed.org/thinkers/senge.htm Turnley, W. H., & Feldman, D. C. (1999a). ‘The impact of psychological contract violations on exit, voice, loyalty, and neglect’. Human Relations, 52, 895–922. Van den Bossche, P., Segers, M., & Jansen, N., (2010) Transfer of Training: The Role of Feedback in Supportive Social Networks, International Journal of Training and Development, Vol. 14, Iss. 2, pp. 81 – 94 van Dam, N. (2002). E-learning by design: Can a better-designed course help you learn moree-learning. 3(1), 38-39. Venkatesh, V. and Goyal, S.(2010). ‘Expectation Disconfirmation and Technology Adoption: Polynomial Modeling and Response Surface Analysis,’MIS Quarterly 34, (2), 281-303 Vroom, V.H. (1964), Work and Motivation, John Wiley

Mamie Clark

Running head: MAMIE CLARK 1 Famous Person in Psychology: Mamie Phipps Clark MAMIE CLARK 2 Famous Person in Psychology: Mamie Phipps Clark Mamie Phipps Clark was born in Hot Spring, Arkansas on April 18, 1917 to Dr. Harold and Katie Phipps.Due to her father having a practice in town the family had achieved middle class status and was allowed into many establishments that were normally whites only, which during that time in Arkansas was rarely heard of. Even though few higher educational opportunities were open to black students, after graduating from Langston High School in 1934, Mamie was offered several scholarships and chose to accept one from Howard University. (Cherry,2013) Mamie chose to study at Howard University because it was located in the nation's capital and because of the many accomplished black members of its faculty whom she viewed as role models.She began her studies at Howard as a math major, minoring in physics. There she met her future husband, Kenneth B. Clark, w ho was studying for his master’s in psychology. After not getting much encouragement from her professor’s in mathematics, Kenneth encouraged Mamie to change her major to psychology for employment possibilities and the chance to explore her interest in children. (Cherry, 2013) When completing her master’s degree in 1939, she worked and studied children in an all-black preschool.During that time she met with pyschologists, Ruth and Gene Harley who were studying self-identification in young children and encouraged Mamie to do the same with the children in the preschool. This resulted in her completed thesis â€Å"The Development of Consciousness of Self in Negro Pre-School Children†. (Cherry,2013) MAMIE CLARK 3 Mamie transferred to Columbia University to finish her doctorate degree, where she graduated in 1943 as the second African American to earn a degree (first eing her husband, Kenneth Clark). Then Drs. Mamie and Kenneth Clark used their research with c hildren to show that black children became aware of their racial identity by the age of 3 and by segregating them from white children the children saw their race as negative. This led the Clark’s to present their findings during desegregation trials for the NAACP's case in Brown v. Board of Education, which overturned racial segregation in public schools in 1954. (Mamie Clark, 2013)After several years working in public and private social services being unsatisfied with what she saw, Mamie founded the Northside Center for Child Development, the first center to provide therapy for children in Harlem. At a time when public schools were illegally enrolling many black children into programs for the mentally handicapped, the center conducted its own intelligence tests, fought the schools, and empowered the local population. Realizing that therapy alone could not address the affects of racism on the community, Northside also assisted families with their housing and financial difficu lties.Mamie Clark worked for Northside until retirement in 1980 and died three years later of cancer. (Mamie Clark, 2013) Using the Sociocultural aspect of psychology, it is easily seen that Mamie Clark was influenced by social and cultural she experienced in her life. Growing up in Arkansas during the times where racism were very apparent and segregation was dominant, she was fortunate enough to have been born into a middle class family. Mamie was able to see both sides of the segregation by being allowed into white establishments.This had a significant impact on her way of thinking, she wanted to both races to be seen equally and this eventually led to her involvement in the desegregation of public schools. MAMIE CLARK 4 References Mamie Clark, a Supporter of the Black Child. (2013). Retrieved on January 18, 2013 from http://www. aaregistry. org/historic_events/view/mamie-clark-supporter-black-child Cherry, Kendra. Mamie Phipps Clark Biography. (2013). Retrieved on January 18, 20 13 from

Palestine essays

Palestine essays It can be said that , from the outset, the link between European colonialism in the middle east and the Palestine question, is as strong as the link which exists between the Holy Quran and Muslims, and Jews and the Torah. The reason this statement is accurate is, because the British occupation of Palestine, from 1917 to 1947, was a direct cause of the Palestine question. To understand this point, it is necessary to examine the period in which the British were granted administrative power of Palestine by the League of Nations ,from 1917 to 1948, under the so called Mandate system. The purpose of the mandate was to make the mandated nation capable of self rule by its inhabitants, which in the case of Palestine, was Arab-Palestinians by majority. Instead the British administration in Palestine took Britains self interests into hand and tried to create a national Jewish homeland by Implementing earlier agreements made with Zionist nations, such as the Balfour agreement, Into the manda te which gave them the right to colonize Palestine. This deprived the Palestinians of self-determination and instead made them Another British colony, which led to a Arab revolt. These factors, which must be further looked into to understand there significance to the topic, all contributed to the issue of the Palestinian question , which was placed before the newly formed United nations in April ,1947. To understand the question of Palestine and the conflict which happened because of it Between the Arabs and Jews , we must look to the past of these two groups, for there claims over Palestine have existed since biblical time, and also there religious claims, which adds another Dimension to the conflict. Islam and Judaism have similarities between the two. They both claim from lineage Abraham, the Arab-Muslims from Ishmael, Abraham first son with his handmaiden Hagar. While the Jews, from Isaac, Abrahams and his wife Sarah...