Monday, January 27, 2020
The Concept Of Work Life Balance
The Concept Of Work Life Balance Abstract The concept of work-life balance has now become centre of attention for almost all companies, political institutions, research institutions, families, individuals and trade unions at both national and international level. Work life balance is an important topic in human resource management that means to combine work and life in a way, that both are achievable. Work life balance is generally related to role overload, time management, time pressure, job satisfaction, job stress, organizational commitment, life satisfaction, turnover, welfare, social security, working time, flexibility, family, fertility, (un)employment, migration, consumption, demographic changes, leisure time and so on. In this paper, work means paid work i.e. a person earns money by providing his/her services to the organization. Both work family balance and work life balance is same thing. Moreover, work life conflict and work family conflict are used interchangeably. We will discuss some relevant definitions, its i mportance in organization and in life of individual, antecedents and consequences of work life conflict, factors which help in creating work life balance, advantages of work life balance, cost of implementing its policies, some findings from literature, our recommendations and implications and in the end conclusion. From our literature we try to find some quantitative data about condition of work life balance in different countries but we were not able to get it. This paper is done mostly on qualitative data we get from different and renowned journal articles written by different prominent authors. Introduction Theres no such thing as work-life balance. There are work-life choices, and you make them, and they have consequences, stated by Jack Welsh, former General Electrics CEO and all-round business guru (Khallash Kruse, 2012, p. 682). The two most important domains of an individuals life are work and family and their interface has become centre of attention in the past two decades for researchers in the field of human resource management world-wide. The changing social structures arising out of dual career couples, single parent families, globalization, changes in the demands and patterns of work, an increasing number of parents with children care responsibilities, increasing number of women workforce and ageing parents all have contributed to escalating research in the area of work life balance. There is a need to integrate and balance family and career requirements otherwise work life balance is in jeopardy as a person is unable to perform his roles due to tiredness from work or family responsibilities hamper concentration at work (McCarthy et al., 2010; Valk Srinivasan, 2011). Work life conflict is opposite of work life balance, that can be either related to strain-based or time-based conflicts between work and life. There are two conflicting areas: (1) how work impacts on family life i.e. work-to-family conflict and (2) how family life impacts on work i.e. family-to-work conflict. But the net impact is same and that is Work life imbalance or conflict. Work-life balance is not primarily a womens issue as the principles equally apply to men (Pichler, 2008; Crompton Lyonette, 2006). This concept highly aims to encourage employees to adopt flexible working arrangements that can help them to achieve balance between their professional and private life. History of Work-Life Balance In 1986, the term Work-Life Balance was first identified, but its usage in everyday language was still sporadic for a certain number of years. Although, interestingly work-life programs existed in early years such as 1930, but people did not recognize them. Before the Second World War, the W.K. Kellogg Company created some flexible work hour shifts for their employees who replaced the traditional daily working hours, and the new shift resulted in increased employee efficiency and morale. In 1977, Rosabeth Moss Kanter, for the first time in his influential book, Work and Family in the United States: A Critical Review and Agenda for Research and Policy, raised the issue of Work-Life Balance and brought it to the forefront of organizations and research. This concept forces organizations to follow work-family friendly environment. Therefore, in the 1980s and 1990s, some organizations began to offer work-life programs who aimed to promote balance work-life. The first waves of these progra ms were mainly to support women with children (Brough et al., 2008). Now-a-days, many work-life programs have been introduced which are less gender specific and identify other obligations as well as those of family. Definitions of Work-Life Balance Now-a-days, the concept of Work-Life Balance is not new; because of its importance it has been discussed extensively. It has been conceptualized as an individuals orientation across various life roles and inter roles phenomenon. Different scholars have given different views on how they perceive the concept of WLB. Some of the important definitions are: (1) Kofodimos has defined it as a satisfying, healthy and productive life that includes work, play and love, that integrates a range of life activities with attention to self and to personal and spiritual development, and that expresses a persons unique wishes, interests, and values (Valk Srinivasan, 2011, p. 40). (2) Kirchmeyer has viewed Work-Life Balance as achieving satisfying experiences in all life domains, and to do so require personal resources such as energy, time, and commitment to be well distributed across domains (Greenhaus et al., 2003, p. 512). (3) Clark views work life balance as satisfaction and good functioning at wo rk and at home with a minimum of role conflict (Greenhaus et al., 2003, p. 512). (4) Work life balance is the term used to describe the organizational initiatives aimed at enhancing employee experience of work and non-work domains (Darcy et al., 2012, p. 112). (5) Work life balance is experienced when demands from the domain of work are compatible with demands from other domains, e.g. family (Pichler, 2008, p. 3). These definitions share number of common elements for example; all highlights the balance between work and non-work domains and equality of inputs and outcomes. On the other hand, work life conflict is a form of inter role conflict in which the demands of work and family roles are incompatible in some respect so that participation in one role is more difficult because of participation in the other role (Voydanoff, 2004, p. 399). In short, work life conflict is conflict between work and family responsibilities. Significance of Work-Life Balance Literature has shown that concept of Work-Life Balance is worth for discussion as it aims to create a balanced work-life. Work life balance is becoming an important issue as people deals with shrinking workplace and time pressure. Many studies have highlighted that work-life initiatives offer a win-win situation to both employees and employers and affect business progress and performance in many ways as improving work life balance practices increase productivity, employee well-being, reduces costs, lead to improve retention and recruitment and better motivation and morale for employees (Maxwell, 2005). Various theories have revealed that work life balance policies try to minimize stress and add to a healthier and safer work environment. Work life balance has been associated with greater employee commitment, job satisfaction and organizational citizenship behavior and its policies are beneficial for individuals, their families, physical health, mental health, relationships, creativity , organizations, and society (Brough et al., 2008 Grzywacz Carlson, 2007). Employees expect their employers to recognize that in addition to job they also have a life that includes their family, friends and social gathering. Studies have shown that a workforce that is out of balance faces stress and dissatisfaction which reduces family and work engagement. Work life balance issues are one of the main reasons which forces workers to quit their jobs. Therefore, work life balance is an important and increasingly hot topic because its about improving peoples quality of life and aims to widen access to career opportunities and paid employment. Firm size is also the next best predictor of the presence of work life balance policies; because its size affects the extent and type of work life balance policies a firm can offer. Large companies are more likely to offer longer and paid parental leave and flexible working hours (Beauregard Henry, 2009; Kucharova, 2009). In short, firms have re cognized that creating a balanced work and family life of employees is the only solution of all problems. Now, senior management has become more proactive about their employees health and they are introducing and implementing work life strategies. Measurement There is no as such one measurement tool for work life balance in literature. But most widely used tool is questionnaire and surveys. Most companies do questionnaires and survey to their employees to find out how balanced is their work and life is. One such questionnaire is discussed here. Employee has to select one option and each option is assigned different point. Options were based on a 5-point rating scale that ranged from never to always. Questions are: I have come home from work too tired to do the chores which need to be done? It has been difficult for me to fulfill my family responsibility because of the amount of time I spend on my job? I have arrived at work too tired to function well because of the household work I had done? I have found it difficult to concentrate at work because of my family responsibilities? Keep worrying about work problems when you are not working? Feel too tired after work to enjoy the things you would like to do at home? Find that your job prevents you from giving the time you want to your partner or family? Find that your partner or family gets fed up with the pressure of your job? If employee faces these problems quite often it means he/she is facing work life conflict (Pichler, 2008). Higher scores indicate imbalance rather than balance of work and life. (Other surveys and questionnaires are mentioned in appendix). Antecedents Which Cause Imbalance Work-Life In many researches both men and women has reported that they face difficulties in keeping a balance between family and work life, therefore, their lives suffer because of this imbalance. One of the main reasons for this difficulty is lack of support and help from their better half or spouse. In addition to this, work life (im)balance highly depends upon on job role, project-based job and nature of industry. For example, project-based work with unpredictable work pressure and requirement to deliver project consistently with predetermined time, often requires extensive travel disturb family relations. Additional working hours and working outside normal hours at expense of home and family time with high work intensity and pressure may result in bad health, stress, anxiety, fatigue and adverse/unpleasant psycho-physiological consequences that can have dreadful affect on quality of family and work life. Some researches has indicated that despite of an overall decline in weekly working hou rs across Europe over the last decade, the increased stress level, insecurities and competition at work-place are considered to be additional factors which are relevant in creating disruption of balance in life (Valk Srinivasan, 2011; Pichler, 2008). Literature has also highlighted that fact that highest level of stress occurs when job demands are high whereas work life balance practices and policies are low. There are also some barriers which restrict organizations to implement work life balance policies that are job requirements, commitment and loyalty, cultural values, and change (Chiang et al., 2010). According to Voydanoff (2004), work demands expected to be highly associated with work-to-family conflicts which are of two types i.e. time based and strain based. Long paid working hours restrict an individuals time that can be spent with friends and family. This lack of time may create difficulties for employees in maintaining family relationship and performing family orientated task or duties. Sometimes, strain-based demands (job insecurity or concern over losing a job) threaten the economic well-being that is necessary to quality of life and stability. The stress related with job insecurity decreases interpersonal availability and restricts effective participation in family life. Sometimes, family responsibilities also restricts person to perform his/her work duties effectively but researches have been more focused on work to family conflict rather than family to work conflict. Consequences Conflict between family and work has real and worth discussing consequences which extensively affects quality of life and career success for both women and men. Stressfulness, lower productivity, low employee morale, decreased job satisfaction, absenteeism and sickness are some common consequences which are caused by work life conflict. The consequences for women may comprise serious career choices and constraints, limited career advancement opportunity and success in their work role and need to choose between an active satisfying career or marriage and children. Most of the men face tradeoff between career and personal values when they tries to find out ways to make dual career families work that often requires them to hold family roles that are far different and open. Other serious consequences of imbalance work-life are alcohol-drug abuse, negative physical and mental health effects, poorer outcomes for dependants and other household members, a lesser work contribution, a diminuti on of social citizenship and community participation, depression, financial and marital problems, distrust, tardiness, cheating and violence in workplace, task avoidance, embezzlement, organizational sabotage, compulsive eating disorder and burnout (Voydanoff, 2004; Pocock, 2005). Because of these serious consequences organization faces with the prospect of losing talented men and women who because of imbalance between work and life become unable to cope with dual family and work demands. That is why; organizations reconsider personnel policies and expectations. Factors Which Help in Creating Work Life Balance The role of social/family support and supervisor/co-worker support has consistently emerged in literature as an important factor that influences work family balance in a positive manner. Social support includes support from an employees parents, siblings, spouse or partner, children, friends and extended family. Of particular importance is support from the spouse who contributes in a variety of areas including moral, domestic and childcare support, earnings and personal financial management, home and family responsibilities, career management and interpersonal support. Family support also includes the exchange of support among relatives. The personal social support can be further conceptualized as emotional and instrumental support, thus suggesting that it positively influences the individuals functioning at work. The role of workplace support, i.e., the support received from supervisors and co-workers is another critical element of work family balance. Organizational and supervisor understanding of family duties are positively related to satisfaction with the balance between work and family life. Workplace support via an organizational approach involves the implementation of family friendly policies, which are associated with integrating work and family responsibilities and achieving a healthy work and family balance. Organizations offer a wide range of work family benefits and programs to their employees (these are discussed in appendix). Through research it is found that flexible work arrangements allow individuals to maintain a balanced life. There is also importance of supportive supervisors, peers and colleagues in managing their work family balance. Literature recognizes that all of the above mentioned variables have a greater impact on women. An emerging category appeared to achieve work life balance that is self-management or reinvention: reconsidering not only the kind of work one wants to do but also the kind of person one wants to be and the sacrifi ces one is prepared to make to grow into that new self (Valk Srinivasan, 2011; Wayne et al., 2007; Voydanoff, 2004). Communication about work life programs to employees and providing proper resources and rewards to them also contribute towards work life balance. Advantages of Balanced Work and Life Researchers are now focusing on how family and work can benefit each other and this concept is known as work life facilitation. This facilitation may take place when gain from one domain can be transferred to and improving the functioning in the other domain. Work life balance can serve as a guide for organizations to address family work balance issues by redesigning the HR practices and policies for facilitating family work balance. This will help further help in enabling workers to be more committed to the organization, perform better work, and contribute to growth of economy and positive impact for society as whole (Valk Srinivasan, 2011). Work-Life programs promotes improve productivity and employee commitment, lower rate of turnover, thus result in fewer employee relation challenges and reduced likelihood of unethical business practices. Moreover, implementation of work life balance policies can result in less loss of knowledge workers to competitors, reduced staff turnover, lo wer training and recruitment costs, reduced absenteeism, improved quality of workers, reduction in work stress, reduced use of sick leave, high self-esteem, confidence and loyalty, better performance and high morale and satisfaction. Some vital benefits that employer gains from work life balance includes employees feel valuable and work harder, maximized available labor, more loyal and motivated workforce, less stressful workplace, high employee involvement, organizational effectiveness and positive employee attitude and behavior (Beauregard Henry, 2009). Work life promotes happiness and better relations among employees and employers. Costs of Implementing Work Life Balance Policies The cost of implementing work life balance policies is another vital issue which organizations take into account. These costs include direct cost e.g. parental leave payments, childcare subsidies, cost of extra space associated with increased facilities like breastfeeding rooms or childcare facilities, providing equipment to telecommuters and indirect costs such as temporarily filing absentees post and reduction in productivity from temporary disruptions (Darcy et al., 2012; Brough et al., 2008). It has also highlighted that managers role plays a critical role in policy development and implementation. Poor managers/supervisors skills and behaviors in work life balance practice can lead to increase costs (Maxwell, 2005). According to Roberts (2008) a reduction in worked hours is perhaps the most obvious route for employees to improve their work life balance despite the connected costs in terms of income, career and status. Managerial Implications/Recommendations Based on feedback from family and co-worker a person can evaluate whether he/she fulfilling both family and work responsibilities (Grzywacz Carlson, 2007). Work life balance support and practices promotes a mean by which workers may alter their work hours and condition in a way which can reduce stress. When employees enjoy high degree of freedom and flexibility, sense of job control will increase, thus alleviating job stress (Chiang et al., 2010). Work life balance practices can have positive impact on employees and competition at firm level. These are some suggestions to promote work-life policies and program: (1) Use questionnaires to find out what workers feel about work life balance. (2) Review HR strategy and see if they support companys mission. (3) Develop work-life reward programs by using non-cash incentives associated with business objective. (4) Align HR strategy (e.g. employer of choice) with work-life initiatives (McCarthy et al., 2010). Work-life initiatives also creat e positive employer branding, promote organizational citizenship; endorse being an employer of choice and support diversity programs. To start work-life programs, managers should consider these key areas: employee retention, absenteeism, employee time save, increase productivity and motivation and decrease stress related illness and health care costs. However, the entire work-life programs cannot be told firmly by only quantitative measurements. HR professionals must consider four significant questions: (1) do supervisors and managers aware of the impact work life balance and its policies has on their employees, (2) does a firm culture and environment truly support work-life benefits, (3) does the companys management philosophy sincerely promotes work-life benefits, (4) are workers aware of and do they recognize companys work-life policies and programs. If a company is already in practice of offering work-life benefits, then the next step for it would be to re-communicate and repack age them so employees can see how such benefits may find them ways to reduce or manage work-family conflict. Moreover, creating a HR strategy that clearly comply with companys mission will exhibit that how committed the company is to its employees needs. Organizations may need to adopt more modified work life balance programs, initiatives and have the courage to go beyond from a one size fits all approach (Darcy et al., 2012; McCarthy et al., 2010). In other words, Companies may need to re-think work life balance more specifically and need to pay more attention on it. Work life balance programs are not reduced hours, flexible delivery, but it is about assisting people to match their behavior to their values (Reiter, 2007). According to Grawitch et al., (2010) its not about balance, its about resource allocation (in appendix, it is discussed in more detail). Companies should tailor its HR and work life balance policies according to the need of the employees and should implement it ef fectively to get desired results. Discussion Findings From the literature we found that younger employees and employees in professional and managerial positions account higher levels of work life conflict. Singles are generally more balanced than people whose partner is in paid work. Long working hours, high levels of job insecurity, a lack of power in deciding when to start or finish work and demanding jobs result in higher imbalance in work and life. Women with children also report high level of work life conflict (Pichler, 2008). But it was revealed by Emslie Hunt (2009) that there is no clear relationship between work life balance and gender. It is definitely clear that women is considered to do the home related work, on other hand men is also supposed to fulfill family responsibilities. There is also no clear relationship between work life conflict and age of employees children, but there is some evidence about those employees whose children are below three faces more work life imbalance. A one size fits all approach used for the development of work life balance programs is costly and ineffective to meet the needs of different type of employees. Job involvement was negatively related to work life balance whereas, perceived managerial support was positively related to work life balance (Darcy et al., 2012). It was found by Kucharova (2009) that there is no clear relationship between work life balance and economic condition of the different countries. It was found that sometimes flexible working and working from home increase work life conflict and part time work and job sharing also sometimes increase work pressure. There was no clear relationship found between flexible working arrangements and working conditions such as pay, promotion opportunities and employee commitment (Russell et al., 2009; Moore, 2006). Through study of Reiter (2007) it was clear that organizational development field is struggling with the apparent lack of success of work life balance programs in many organizations and this is caused by lack of investment by companies and government in work life balance initiatives. Furthermore, to gain real value from investment in work life balance, organizations need to recognize it as a complex issue and apply much more holistic solutions than has usually been the case. Conclusion In conclusion, we like to say that people who combine all aspects of their life in a balanced manner should therefore be the most satisfied and happiest one. In short, work life balance is part of the general well-being. The higher work-life imbalance, the lower are life satisfaction, happiness, subjective health and emotional well-being. Work life balance programs have the potential to extensively reduce absenteeism, improve employee morale and keep hold of organizational knowledge, particularly during hard economic times. In such a marketplace where there is increasing globalization and companies aspire to reduce costs, it depends upon human resource expert to comprehend the serious issues of work life balance and become of winner work life programs. It will cost some money, but in the long run, the company will benefit from this. If properly introduced and implemented then work life balance programs can be win-win situation for employee, family and organization. Flexible working a rrangements are important but it should be catered according to employees needs, resources, time and demands to get more improved results. Work life balance is associated with quality of life and is not only a moral issue it is productivity and economic issue, a workplace issue and a social issue, and needs to be addressed as such. We can also measure by using some other questions and that are, how successful do you feel in balancing your paid work and family life? Are you satisfied or dissatisfied with the balance between your job or main activity and family and home life? I am satisfied with the balance I have achieved between my work and life? I am able to balance the demands of my work and the demands of my family? I experience a high level of work-family balance? I am satisfied with the balance I have achieved between my work life and my family life? How successful do you feel in balancing your paid work and family life? Are you satisfied or dissatisfied with the balance between your job or main activity and family and home life? Responses were based on a 5-point rating scale that ranged from strongly disagree to strongly agree. (Allen Kiburz, 2011; Kucharova, 2009; Reiter, 2007). Factors Which Help in Creating Work Life Balance Organizations offer a wide range of work family benefits and programs to their employees such as job sharing, staggered hours, compressed working hours, telecommuting, job protected parental leave, part-time return to work options, shift swapping, flextime, resource and referral services, unpaid family leave, dependent care assistance, shorter standard work weeks, improvement in job conditions, breaks from work, work for home, on-site childcare, support groups for working parents, sports facilities, day-care facilities, laundry facilities, and canteen facilities (Valk Srinivasan, 2011; Wayne et al., 2007; Voydanoff, 2004). Its not about Balance, Its about Resource Allocation Literature has re-conceptualizes the frame work of WLB. Previous researches have given more emphasized on the ways in which work and non-work life affect each other, but now new studies has introduced the concept of Personal Resource Allocation (PRA) framework which considers that all life demands forces an individual to make choices about where, when, how to allocate personal resources across the life domains. This Framework has four main central components which include personal resources, demands, resources allocation strategies and the individual outcomes. It suggests that effective work-life balance is an effective personal resource allocation across all life pursuits. It allows researchers to move beyond the old assumption of WLB, in which work life is considered bad and family life considered as good, to person-environment interactions that brings positive individual outcomes. According to PRA framework, individuals bring their personal resources to their daily lives, and beca use they come across repeated demands (anything that competes for personal resources) on their resources so, these demand forces them to make choices where to allocate these resources. Once the resources are allocated, then individuals are left with fewer resources to meet additional demands (Figure1, in appendix shows the PRA framework). Therefore, positive outcomes can only be achieved if (a) perceives that they have necessary resources to respond to their demands of life, (b) when they believe that they have adequate control to allocate their resource according their preferences, (c) when they feel satisfied with the way they have managed their resources (Grawitch et al., 2010). This Framework has presented the rethinking concept of WLB interface by de-emphasizing the negative role that work plays in life and emphasizing a resource allocation strategy. This theory incorporates person-environment interactions that bring positive outcomes, instead of, simply those that decrease or increase outcomes.
Sunday, January 19, 2020
The Development Of Leadership Quality Education Essay
ââ¬Å" ââ¬ËLeaders are born ââ¬Ë and ââ¬Ëleadership accomplishments can be developed ââ¬Ë represent two basically different positions towards the development of leading quality. Which position would you back up, and what deductions may this hold for direction development in organisations? â⬠IntroductionAre leaders born or made? This inquiry has grabbed a batch of attending of many writers in the past century. The leading theories and the ways to analyze leading have been evolved over clip. The subject of leading has been of involvement to many research workers throughout the twentieth century but non in the 19th. As Frank Heller ( 1997, p.340 ) notes that in 1896, the US Library of Congress had non one book on the topic of leading. Alan Bryman, one of the most well-thought-of and cited British research worker, has written a reappraisal chapter ââ¬ËLeadership in Organizations ââ¬Ë in 1990s. Bryman traces the displacements in the definition of leading from Trait epochs to the New Leadership epoch ( Bryman, 1996 ) . David Day argues that leaders can be developed. He carried out a thorough scrutiny of leading development from three interconnected positions, of theory, pattern and research ( Day, D. V, 2001 ) . One of his wide findings was that the pattern of leading development offered many processs for executing programmes for accomplishing coveted ends of leading development. However, he was able to happen small hallmark of the connexions between the patterns and those ends. Day gives a clear image of one of the ways in which leading research is chiefly complex to analyze and implement. He foremost differentiates between leader development and leading development. Leader development focuses on the person, and historically was the more of import one. Whereas, leading development shows a broader image of the overall kineticss of the organisations within which leaders and others perform their work ( Rickards and Clark, 2006 ) . In the undermentioned pages, we will be looking at different theories that either supports the ââ¬ËBorn ââ¬Ë or ââ¬ËMade ââ¬Ë side of leading, back up the impression that leaders can be developed and speak about how can they be developed and what impact does it hold on the direction and leading development in an organisation.Leaderships, Born or Made?Narratives from all over the universe have promoted the fact of natural leaders, who succeeded without any formal preparation or whatsoever. Yet, leading preparation and development has been a turning field of survey. The taken-for-granted belief in the natural born leader was noted in a address on leading made by the Bishop of Durham, Dr Herbert H. Hensley at St Andrews University, Scotland in 1930s, in which he noted that: ââ¬Å" It is a fact that some work forces possess an inbred high quality, which gives them a ruling influence over their coevalss, and marks them out unmistakeably for leading. . . [ in many walks of life ] there are those who with an assured and undisputed rubric, take the prima topographic point, and determine the general behavior â⬠( Quoted in Adair J. , 1989 ) We will now be looking at two proposals by Alan Bryman and David Day. Bryman takes us on a journey through the development of leading theories in the pre-modern times to the rise of trait theory, and an epoch where trait theories became challenges by more behaviourally oriented thoughts. Bryman portrays all these theories as a portion of the ââ¬Å" old leading â⬠theoretical account and contrasts them with an of import theoretical account of new leading. We will now understand how trait theories became cardinal, underpinning beliefs about natural Born leaders followed by the diminution in the sensed significance of trait theories added to the ultimate rise of involvement in leading developmental possibilities ( Rickards and Clark, 2006 ) . An early definition which was accepted for three decennaries was by Stogdill in his enchiridion which says ââ¬Å" Leadership may be considered as the procedure ( act ) of act uponing the activities of a group in attempts towards end scene and end accomplishment â⬠( Stogdill, 1950 ) . Bryman argues that that definition presented by Stogdill indicates how leading was supposed to run through a leader carrying the behavior of the followings. However, he notes that this definition is deficient for distinguishing between leading and direction. He so compares this to a new leading definition which says ââ¬Å" The leader gives a sense of way and aim through the articulation of a compelling world-view [ the specifying feature of which is ] the active publicity of values which provide shared significances about the nature of organisations â⬠( Bryman, 1996 ) . Bryman takes a historiographer ââ¬Ës attack and suggests typical epochs in leading theory and research. He notes that the epochs are suggestions of periods within which a peculiar kind of theory had domination over the other. He categorises them into 4 epochs, the trait epoch, manner epoch, eventuality epoch and the new leading epoch. The trait epoch was from 1880s to 1940s. It emphasised on the indispensable features of a leader which were presumed to be congenital traits like physical traits, abilities like intelligence, communicating etc and personality features like assurance, extroversion etc. The manner epoch was from 1940s to 1960s. It refocused on what the leaders did instead than their personal traits. The most dominant organisational surveies such as the Ohio State probes set a manner for analyzing the studies of followings which was even followed in the eventuality epoch. Research workers attempted to distill manners to a few overarching variables, frequently bring forthing planar theoretical accounts of people oriented and undertaking oriented. The eventuality epoch, right after the manner epoch, that was from late sixtiess to early 1980s. It can be seen as a more complex manner as it incorporates the situational variable. A contingent variable is one whose significance in a theory is dependent on fortunes. A people oriented manner may non be appropriate is the degree of acquisition and instruction of the followings is low. Harmonizing to Bryman, the eventuality theory introduced the ââ¬Ëit all depends ââ¬Ë thought. He identified the theoretical account developed by Fred Fiedler and colleagues as the best known of the eventuality approaches. This theory suggests that the nature of the leader to favor undertaking or relationships may be assessed by the leaders position of his colleagues and specifically for the least preferable colleague ( LPC ) . If a leader sees good qualities in his colleagues, he tends to be more relationship oriented, if non so undertaking oriented. The new leading epoch took up in the 1980s and to day of the month. The typical characteristics are a displacement from the trait, manner and eventuality theoretical accounts through focal point on leading as a socially constructed procedure. The 2nd characteristic was a procedure of transformational alteration. This was a clear limit from the two old epochs of eventuality and manner, although the birth of trait theory could besides be considered as grounded in leader traits linked with major transmutations ( Rickards and Clark, 2006 ) . In 2001, David Day carried out a elaborate review of leading development from three interconnected positions, of theory, pattern and research. One of his wide findings was that the pattern of leading development can give us many ways for carry oning plans for carry throughing wanted ends of leading development. Day illustrates that leading research is reasonably complex to analyze and put to death. He draws a differentiation between leader development and leading development. Leader development focuses on the person, and historically was the more of import one. Whereas, leading development shows a broader image of the overall kineticss of the organisations within which leaders and others perform their work ( Rickards and Clark, 2006 ) . Harmonizing to Day, leading development holds near the single focal point instead than replace it. He criticizes on the weak nexus between theory and pattern and developed six of the most influential techniques for leading development, viz. 360-degree feedback, coaching, mentoring, networking, occupation assignments and actions ( Day, D. V, 2001 ) . This we will discourse in item towards the terminal of this paper. Over the old ages, leading has been studied loosely in a assortment of contexts and theoretical foundations. In some instances, leading has been illustrated as a procedure, but most theories and research on leading expression at a individual to derive understanding ( Bernard, 1926 ; Blake, Shepard and Mouton, 1964 ; Drath and Palus, 1994 ; Fiedler, 1967 ; and House and Mitchell, 1974 ) . Leadership is in general defined by the traits, qualities, and behaviours of a leader. ( Stogdill, 1974 ) , identified several different classs that arrests the kernel of the survey of leading in the 20th century. The first motion dealt with the properties of great leaders. Leadership was explained by the internal qualities with which a individual is born ( Bernard, 1926 ) . The impression was that if the traits that distinguished leaders from followings could be identified, successful leaders could be rapidly evaluated and put into places of leading. Personality, physical, and mental individualisms were examined. This research was based on the thought that leaders were born and non made, and the key to success was merely in acknowledging those people who were born to be great leaders. Despite the fact that much research was done to place the traits, no clear response was found with respect to what traits every clip were associated with great leading. One imperfectness with this line of idea was in ignoring the situational and environmental factors that play a function in a leader ââ¬Ës degree of effectivity ( Horner M. , 1997 ) . A 2nd major thrust looked at leader behaviours in an attempt to reason what successful leaders do, non how they look to others ( Halpin and Winer, 1957 ; Hemphill and Coons, 1957 ) . These surveies began to look at leaders in the model of the organisation, placing the behaviours leaders ââ¬Ë exhibit that increases the efficiency of the company. A 3rd attack in response to the inquiry about the best manner to take dealt with the dealingss between the leader ââ¬Ës traits, the leader ââ¬Ës behaviours, and the state of affairs in which the leader exists. These eventuality theories make the guess that the effects of one variable on leading are contingent on others. Yet another eventuality theory trades with an scrutiny of the people who are led by leaders. The significance of the followings in leading materialized ( House and Mitchell, 1974 ) , and leading was seen as a communicating between the ends of the follo wings and the leader. The path-goal theory proposes that leaders are chiefly responsible for assisting followings build up behaviours that will enable them to achieve their ends or preferred results. Extra leading theories have come frontward over the past 10 to fifteen old ages. This is symbolized by the comparing of transactional and transformational leading. Transactional leading stems from more constituted positions of workers and organisations, and it involves the place power of the leader to utilize followings for undertaking completion ( Burns, 1978 ) . Transformational leading, nevertheless, looks on for ways to assist actuate followings by carry throughing higher-order demands and more to the full appealing them in the procedure of the work ( Bass, 1985 ) . Transformational leaders can get down and cover with alteration, and they can craft something new out of the old. In this manner, these leaders separately evolve while besides assisting their followings and organisations evolve. They construct strong associations with others while back uping and heartening each person ââ¬Ës development. Manz and Sims besides offer a revised, integrative point of position on leading . Using the term ââ¬Å" Super Leadership, â⬠they confront the traditional paradigm of leading as one individual making something to other people ( Manz and Sims, 1991 ) . Alternatively, they propose that another theoretical account exists for leading today: ââ¬Å" the most appropriate leader is one who can take others to take themselves â⬠( p. 18 ) . Harmonizing to this position, leading exists within every person, and it is non restricted to the bounds of officially appointed leaders. They suggest that for leaders to be most successful, they need to help each person in the development of taking himself or herself. Leaderships become great by unleashing the possible and capablenesss of followings, hence holding the cognition of many people alternatively of trusting entirely on their ain accomplishments and abilities. Daniel Goleman was the first individual to present the thought of 'emotional intelligence ââ¬Ë in his book with the same rubric in 1995. In his research of around 200 big companies, he found that apart from the leading qualities like intelligence, stamina, finding and vision, which are needed to for a leader to be successful ; there is besides a demand for a high degree of emotional intelligence which includes self-awareness, self-regulation, motive, empathy and societal accomplishments. These qualities may sound soft but Goleman discovered strong relationships between emotional intelligence and the house ââ¬Ës public presentation. Harmonizing to Goleman, IQ and proficient accomplishments are the entry degree demands for any executive places. But Goleman ââ¬Ës research shows that emotional intelligence is the sine qua non of leading and without it, no affair if the individual has the best preparation in the universe, has an analytical head and a clump of superb thoughts, he still wont do a great leader ( Goleman, 1998 ) . Self-awareness is the first component of emotional intelligence, which makes sense when one believe that the Delphic prophet gave the advice to ââ¬Å" cognize thyself â⬠1000s of old ages ago. Self-awareness means holding a deep apprehension of one ââ¬Ës emotions, strengths, failings, demands, and thrusts. Peoples with strong self-awareness are neither overly critical nor unrealistically hopeful. Rather, they are honorable with themselves and with others. Peoples with a high grade of self- consciousness place how their feelings affect them, the people around them, and their occupation public presentation. Therefore, a self-conscious individual who knows that he tilt handle tight deadlines, can be after his clip carefully and gets his work done good in progress. Self-awareness extends to a individual ââ¬Ës accepting of his values and ends ( Goleman, 1998 ) . Self-regulation is the component of emotional intelligence that frees us from being prisoner of our ain feelings. Peoples occupied in such a duologue feel bad tempers and emotional disposition merely as everyone else does, but they figure out ways to command them and to even impart them in utile ways. Peoples with self-regulation tend to take a different way in difficult times. They craft words in such a manner that the individual gets the message without doing him or her feel bad about it. Peoples who have control of their feelings and urges are able to craft an ambiance of trust and equity. In such an environment, political relations and bitching are aggressively reduced and end product is high. Gifted people congregate to the organisation and are n't tempted to go forth ( Goleman, 1998 ) . Motivation is one trait that all leaders possess. They are driven to accomplish beyond outlooks. Many of the people are motivated by external factors like higher wage, a esteemed rubric in the organisation or the taking company itself for which they are working. On the other manus, good leaders are motivated by a deeply embedded desire to accomplish something merely for the interest of accomplishing it. If one wants to mensurate the motivational degree of the leader, expression at the desire and passion for work itself. Such people look for originative challenges and love to larn new things. Empathy can be easy recognized out of all the other dimensions of emotional intelligence. It surely does non intend following others emotions as one ââ¬Ës ain and seek to delight them, instead empathy agencies sympathetically sing employees ââ¬Ë feelings along with other factors while doing intelligent determinations. Empathy is preponderantly indispensable today as a constituent of leading for at least three grounds: the increasing usage of squads ; the rapid gait of globalisation ; and the turning demand to retain endowment ( Goleman, 1998 ) . The first three dimensions of emotional intelligence are self-management accomplishments. The last two, empathy and societal accomplishment, trades with a individual ââ¬Ës endowment to pull off relationships with others. As an component of emotional intelligence, societal accomplishment is non every bit straightforward as it sounds. It ââ¬Ës non merely about friendliness, even though people with high degrees of societal accomplishment are seldom dishonorable. Social accomplishment, instead, is openness with a ground: traveling people in the way you want, whether that ââ¬Ës understanding on a new selling scheme or acuteness about a new merchandise. Social accomplishment is a decision of the other dimensions of emotional intelligence. Peoples tend to be really effective at pull offing associations when they can grok and command their ain emotions and can sympathize with the feelings of others. Even motive addendums to societal accomplishment. Peoples who are ambitious to carry through be given to be optimistic, even in the face of failure. When people are optimistic, their ââ¬Å" freshness â⬠is cast upon duologues and other societal brushs ( Goleman, 1998 ) . So can emotional intelligence be learned? For decennaries, people have been reasoning approximately are leaders born or made, and so does about emotional intelligence, are people born with certain degrees of empathy, for illustration, or do they get by existent life experiences? , the reply is both. Scientific research suggests that there is a familial constituent to emotional intelligence and that nature plays a critical function in development of such intelligence. But to what extent, one can non truly mensurate that out. One thing is for certain that emotional intelligence additions as the individual grows older but some people still need developing to develop emotional intelligence. Every individual is born with it, there is a demand to happen and develop it. Emotional intelligence is born mostly in the neurotransmitters of the encephalons limbic system, which administers feelings, urges, and thrusts. Research shows that the limbic system learns best through motive, drawn-out pat tern, and feedback. Compare this with the sort of larning that goes on in the neopallium which governs analytical and proficient ability. The neocortex appreciation constructs and logic. It is the portion of the encephalon that figures out how to utilize a computing machine or do a gross revenues call by reading a book. To hike emotional intelligence organisations must redeploy their preparation to include the limbic system. They must assist people interrupt old behavioral wonts and put up new 1s. That non merely takes much more clip than conventional preparation plans it besides requires an individualised attack. With dedication, continuity and pattern, such a procedure can hold a life long consequence. It ââ¬Ës of import to recognize that constructing 1s emotional intelligence can non and will non take topographic point without sincere desire and concentrated attempt. A brief seminar wo n't assist ; nor can one purchase a how-to manual. It is hard to larn to sympathize, to inte rnalise empathy as a natural response to people, than it is to go proficient at failure analysis. But it can be done. ââ¬Å" Nothing great was of all time achieved without enthusiasm â⬠wrote Ralph Waldo Emerson. If your end is to go a existent leader, these words can function as a usher in your attempts to develop high emotional intelligence ( Goleman, 1998 ) . Harmonizing to Day, there are six most influential techniques for leading development, i.e. 360-degree feedback, coaching, mentoring, networking, occupation assignments and action acquisition. 360-degree feedback involves assessment procedures within which the executives ( leaders ) gives feedback to the employees ( followings ) and have a feedback from them if possible at a higher, tantamount or lower degrees in the organisation. It is used to garner positions from the very important persons and the lower downs. This technique is used by many of the luck 500 organisations nevertheless the leading development portion has attracted some differences. Coaching and mentoring are two overlapping agencies of leading development. Both these attacks fit good with the construct of go throughing on the information to the less experient from the more experient one. Coaching is a term by and big related with the proviso of specific sets of behavioral accomplishments ( dialogue, communicating, presentation accomplishments would be typical leading illustrations ) . The procedures tend to presume that statute cognition is transferred from the trainer to the trainee. Mentoring, correspondent to training, is a classical term to specify the relationship between the wise man, the experient and knowing one, and a less experient receiver. Unlike coaching, the cognition transportation is less concerned with specific accomplishments and the acquired cognition is more likely to be dispersed. Mentoring is therefore more clearly developmental, and sometimes called as tacit accomplishments. This characteristic allows the possibility of informal mentoring relationships. Networking has been acknowledged within cognition direction research, as holding a connectivist footing. This draws a differentiation between theories which regard cognition as inborn in persons ( cognitivist theories ) and those concerned with relationships across persons ( connectivist theories ) . These theories believe that organisational constructions are self-structuring, as an result of the information flows through several connexions ( webs ) amongst its single members. The networking attack to leading development is the most obviously connectivist one. Job assignments have played a critical portion in the field of direction development programmes for many old ages. The simple hypothesis is that persons learn by being exposed to wide-ranging challenges of importance to current or future occupations. The statement has been widely applied to apologize concern exchanges, foreign deputations, even abroad school trips. It will be noted that a occupation assignment programme will inescapably hike a alteration in networking activities of those occupied, so that the appraisal of the one technique against the other is a complex affair. Action acquisition is an look applied to an extended scope of experiential acquisition procedures. The procedures tend to affect undertakings as the drive force for larning ; these are frequently directed towards of import concern jobs. It presents the impression of calculated engagement. The find procedure comes from the interior of a individual. The procedure comes with a demand to work through jobs of objectiveness and whether consequences could be generalized or non ( Rickards and Clark, 2006 ) . Apart from these patterns and attacks, there are many formal leading development establishments in the universe. The Centre for Creative Leadership ( CCL ) is considered as one of the most experient planetary leading development organisations in the universe. It was founded in 1970 in Greensboro, NC, USA and had developed itself as a universe leader with many other installations in the US, Europe and Asia. Even in the UK, Ashridge Management College built its extended leading programmes in the 1980s and 90s with the aid of its franchise from CCL. Manchester Business School ( MBS ) besides became a portion of the programme for proficient leading over a period of old ages through its Research & A ; Development Department ( Rickards and Clark, 2006 ) .DecisionThere is still much of a argument that ââ¬Ëare leaders born or made ââ¬Ë , in my perceptual experience and by looking at a scope of articles and books, came to a decision that nevertheless there is an in-born component involv ed in the development of leading, preparation and development is still in much demand to foster explore and smooth that possible. As Goleman notes that ââ¬ËIt would be foolish to asseverate that good-old-fashioned IQ and proficient ability are non of import ingredients in strong leading. But the formula would non be complete without emotional intelligence. It was one time thought that the constituents of emotional intelligence were ââ¬Å" nice to hold â⬠in concern leaders. But now we know that, for the interest of public presentation, these are ingredients that leaders ââ¬Å" need to hold â⬠ââ¬Ë ( Goleman, 1998 ) . The techniques identified by David Day are deserving observing. Whereas the formal techniques can be used in the development of leading, many other informal attacks can besides be considered. Informal squads can besides be setup in an organisations what can give informal but valuable feedback about a individuals behavior which than can be taken attenti on of. A individual may be born with leading accomplishments and may hold emotional intelligence to a certain degree, but when we look at eventualities, the leader has to be cognizant of the state of affairss and has to be pro-active instead than being re-active. Leadership development in footings of emotional intelligence is a drawn-out and clip devouring procedure but it is deserving puting in provided that the scholar is unfastened to all kinds of acquisition and has a passion and enthusiasm for it.
Saturday, January 11, 2020
MeasuringOrganizationInnovativeness
Measuring innovation is an important issue, as business growth and profitability in the knowledge age depend on innovation. Continual acceleration in innovation will sustain revenue growth, which will then fuel more innovation. Therefore, sustainable growth requires sustainable innovation, which requires that innovation be institutionalized and its output made predictable. Sound policy analysis and decision-making also requires credible, timely and relevant measurements as well. Measuring innovation has been studied extensively by scholars and practitioners.There is even an merging ââ¬Å"innovation economicsâ⬠susceptible that explores the complex relationship between investments in innovation and financial outcomes. At the practitioner end, leading consultancies-?Boston Consulting Group, McKinney & Company, and Bozo Allen Hamilton, to name just a few-?examine innovation and ways to nurture it within firms and other organizations. 3 Purpose of the study This study aims to provi de an overview on how to measure/ assess innovation capability of an organization.The main objective is to enrich our understanding of the innovation process; with an intention to come up with n integrated, convenient, effective, and accurate measure for innovativeness in Egyptian CIT organizations. Our approach for the intended measure would be to focus on a few high impact dimensions, rather than attempting a shotgun approach along many dimensions at once, with significant implications for innovation portfolio strategy. 4 Why the need for Innovation measures (rational)?Assist companies in understanding their current innovation practices/ capabilities, and clarifies where the organization needs to focus to maximize innovation success. Assist TIES to tailor programs to address areas of weakness in order to enhance innovation process capabilities for Egyptian CIT organization as well as advocate policy makers with polices that promote the innovation. Identifies areas of strength to c apitalize on, and identifies opportunities for increasing innovation. Assist TIES to identify and control the barriers that stifle creativity and innovation.Developing Firm-level Innovativeness Index for the sector companies. Benchmarking Egyptian organization with international top innovative companies. Spreading the awareness of the importance of innovation concept and fostering the innovation culture in the organization Methodology 1. Literature review on Innovation process models and measurement frameworks Diamond model Innovation Funnel Innovation Value Chain ââ¬â VIC ( Hansen and Bikini's Innovation Value Chain, 2007) OSLO Manual Innovation measurement Framework 2. Literature review for some innovation metrics/ innovation audit white papers/ working papers and grey literature. . Investigating some top firm-level innovation indexes, and their corresponding methodologies as well as reviewing different innovation audit/ management tools, studying different innovation dimensio ns of focus, and analysis techniques such as: I-Innocent Ion-Biz assessment Improve -Europe Minivan Innovation for Growth 4. Review Of some white papers in innovation in developing countries. 6 Innovation definition According to the definition adopted by TIES, Innovation is ââ¬Ëthe introduction of a new product, service, or process through a certain business model into the marketplace, either by utilization or by centralizationâ⬠.Hence, it encompasses: product innovation, service innovation, Process innovation, and business model innovation, and all contribute to strengthen the competitive advantage of a certain company. This definition respects the fact that innovation is a complex and multidimensional activity that cannot be measured directly or with a single indicator, and hence the need to have a composite measure that reflected the organization innovative capability for the purpose of benchmarking, diagnoses, and supporting building up innovation culture and practices i n Egyptian CIT firms. Innovation Activities definition Innovation activities are all scientific, technological, organizational, financial and commercial Steps which actually, or are intended to, lead to the implementation of innovations. Some innovation activities are themselves innovative, others are not novel activities but are necessary for the implementation of innovations. Innovation activities also include R&D that is not directly related to the development of a specific in innovation (Oslo Manual Ever. 3) . Attributes of Innovation Before discussing innovation measurements, it would be of value to learn about the innovation attributes. Innovation has a number of attributes discussed in the literature (Stone et al. , 2008). The key attributes are summarized below: Attribute 1 . Innovation involves the combination of inputs in the creation of outputs. Something novel is created during innovation. Certain crucial inputs must be available for innovation to occur, and the exact na ture of those inputs differs depending on the desired outputs and outcomes.
Friday, January 3, 2020
Fundamental Economic Problem - 1018 Words
This essay will explain the fundamental economic problem in Hospitality Industry at Restaurant Sector. It will also discuss about the determinant of demand and supply in Restaurants. The central economic problem is scarcity. This problem applies around the world. According to Sloman, Norris Garratt (2010, p.5) ââ¬Å"scarcity is the excess of human wants over what can actually be produced to fulfil these wantsâ⬠. It means human wants are virtually limited. Every country can only produce limited quantity goods and service. Human demand a lot of things that is very limited to supply. With the factors of production, we can limit the good and service human wants. Labour is a human form contribution that can be restricted in number and skills.â⬠¦show more contentâ⬠¦Depending on the profit of each area, the manager will decide which area should be extended and will gain more profit. If the restaurant earns more money than the other, the manager will extend the restaurant floor to accommodate more seats for the customer. Third determinant of supply is the profitability of goods in joint supply. It is describe as when one good is created; another good is also created at the same time. For instance, restaurant serves for people having lunch or dinner constantly but also they provide functions room for birthday or engagement party. They can provide range of service at the same time. Fourth determinant of supply is nature, random shock and other unpredictable events. This is can be earthquakes, floods, fire, machinery breakdown etc. that can affect restaurant facilities. This can decrease their supply for the restaurant and services. Fifth determinant of supply is the aims of producers. Profit-maximising manufacturer will supply different quantity from a manufacturer that has different aim, like maximising sales. For example, restaurant A will supply good quantity of food in higher price; restaurant B will supply the same good quantity of food but in reasonable price. Sixth determinant of supply is expectation of future changes. If the prices are expected to increase, the producers may momentary decrease the amount they sell. For example, after Christmas, customer will tend to stay home or visit theirShow MoreRelatedFundamental Problems of Economic System3980 Words à |à 16 PagesUNIT 1 ââ¬â FUNDAMENTAL PROBLEMS OF ECONOMIC SYSTEMS 1.1 INTRODUCTION In this unit you will get acquainted with the fundamental problems of the economy. The understanding of the concept will help you bring closer to the basic idea of the economyââ¬â¢s problems as well as remedies of such problems. In this unit you will get detailed description of what is an economic system, problems of economic system, factors of production, concept of production possibility curve, and the fundamental of allocation of resourcesRead MoreOrganizational Economics Theory : A Fundamental And Universal Problem Of Organizations784 Words à |à 4 PagesOrganizational Economics Theory Organizational Economics deals with a fundamental and universal problem of organizations: How to induce managers and other employees to act in the best interests of those who control ownership or, in the case of government agencies and nonprofit organizations, those who have the authority to control policy and resource decisions. Also rooted in the second half of the 20th century Organization Economics Theory is concerned with agency theory, behavioral theory,Read MoreWhy Is It so Difficult to Forecast Exchange Rate Movements?1034 Words à |à 5 Pagessignificant role for economic and financial stability. It is not difficult to see the exchange rate fluctuations are widely regarded as damaging. As the movements of the exchange rate have significant and large effects on the trade balance, resource allocation, domestic prices, interest rate, national income and other key economic variables. Then can exchange rate movements be predicted by these fundamental economic variables? Economists have long taken the view that economic fundamentals determine exchangeRead MoreUs a Declining Superpower? Essay800 Words à |à 4 PagesSuperpower. At the end of World War II, the United States became a superpower. Its strength and status reached another peak in the mid and late 1990s as the Cold War ended: it accounted for about 30 percent of global economic output. However, after it entered a new economic cycle from 2000 to 2001, the American share of the world economy has gradually dropped. At the same time, certain situations, including the ââ¬Å"weakening of advantages compared to other countries,â⬠have appeared in some mainRead MoreSingapore s Future Success As A Nation Essay1237 Words à |à 5 Pagesââ¬Å"In the fifty years since 1965, sustained economic growth and the presence of a strong military have successfully built a Singapore nation. These two factors will continue to be fundamental to Singaporeââ¬â¢s future success as a nation.â⬠Discuss. In my opinion, Singaporeââ¬â¢s success as a nation refers to how Singapore has managed to climb from third world status to first world status today and also how Singapore has managed to handle the continued unrest to maintaining the peace and stability it has todayRead MoreSingapore s Success As A Nation Essay1199 Words à |à 5 Pagesmanaged to handle the continued unrest to maintaining the peace and stability it has today. Hence, I agree to the above statement that the two factors have successfully built a Singapore nation and will continue to be fundamental to Singaporeââ¬â¢s future success as a nation. Sustained economic growth has successfully built a Singapore nation as it enables Singapore to have sufficient resources to develop in terms of education, infrastructure, society, health and many others. It also had a major part to playRead MoreAnalysis Of The Book Freakonomics By Steven D. Levitt895 Words à |à 4 Pagesdifferent parts of modern life to show how economic s describes why people act a certain way as well as the way specific outcomes occur. They look into different aspects of society and view them with different perspectives. With the use of specific data and the fundamentals of economics, the very obscure comparisons and the different chapters in the book show correlation between economics and human nature. The main point of this book is to explain a few fundamental ideas through the answers of strange questionsRead MoreThe Main Models of Comparative Politics Essay760 Words à |à 4 Pagesnote of the details surrounding particular events with respect to the distinguishing characteristics of the environment (or culture) that contained them; the rationalist model is based on logical explanations and predictions of behavior from the fundamental assumption of rational, self-interested individuals. Each model has benefits and drawbacks, however the rationalist model comes closest to what many would term ââ¬Å"scienceâ⬠in the field that is somewhat controversially labeled ââ¬Å"Political Scienceâ⬠.Read MoreThe Economic Problem Of The Market Economy1237 Words à |à 5 PagesThe economic problem faced in the market economy is that there are an unlimited amount of wants with a scarce amount of resources. They only current solution is to make decisions as the desire of satisfying all wants is not possible. Economics is the about the allocation of limited resources in the best possible way in order to satisfy needs (items essential for survival ââ¬â food and shelter) and wants (not necessities, but provide satisfaction and assist achievement of higher standard of living).Read MoreThe General Purpose Financial Reporting And The Background Of The Iasb Essay1329 Words à |à 6 Pagesfirst paragraph analysis the objective of general purpose financial reporting is the basis foundation of the conceptual framework, and discuss the six qualitative characteristics of the useful financial information which separa te to two main part: fundamental and enhancing. The second paragraph extent the Boral Limited has highly met the disclosure of AASB 116. The third part present the qualitative characteristic align the disclosure of PPE. The final part discusses disclosure of PPE and general purpose
Subscribe to:
Posts (Atom)