Essay Example | Topics and Well Written Essays - 250 words - 83

Essay Example Knowledge of organizational behavior empowers managers to understand employees’ emotions as well as reasons for employees’ behaviors for appropriate managerial decisions and practices that can control the behaviors and attitudes to achieve positive results. The knowledge can for example help a manager to understand reasons for employees’ rebellion towards development of a forum for identifying root cause of the problem for reconciliation. The knowledge of organizational behavior also facilitates understanding among employees by promoting tolerance to cultural and behavioral diversity. This is because it explains existence of such diversities and offers approaches for avoiding and managing diversity based conflicts. Employees’ understanding of an organization’s constructs also aligns their personal values and behavior to the organization’s policies, values, and expectations. Employees of an organization with established ethical values, for ins tance, adhere to the stipulated standards. Similarly, understanding an organization’s fundamental values and objectives identifies the organization’s appropriate structure for achieving the values and objective. An organization with diversified objectives such as provision of specialized but differentiated products would for example require a structure with line managers (Phillips and Gully 6). Knowledge of organizational behavior in an organization therefore aligns management practices, employees’ relations, and organizations’ structures to the organization’s environment and

The Corporate Veil in the UK and US Coursework Example | Topics and Well Written Essays - 3750 words

The Corporate Veil in the UK and US - Coursework Example Salomon quotes have been repeated many times over history, and it is described by Lord Templeman as an â€Å"unyielding rock†,7 especially after its being codified in the Companies Act 2006 in section 16(2). But how does the corporate veil affect corporate governance? What are the consequences of the veil, especially when it is lifted? Have directors been able to use the veil to commit fraudulent activities, or have shareholders’ rights been made stronger? It is important to first examine the concept of corporate governance, in particular in relation to directors and shareholder’s rights. Shareholder Rights and Directors in Corporate Governance Shareholders are defined as the investors in the company; they are often described to have considerable amounts of power to elect and even remove directors from the board, although it will be shown below that this is not actually the case anymore because their rights have been greatly reduced. On the other hand, the direct ors are the upper most governing body of the company, although they are restricted in many ways by way of their directors’ duties to act in the best interests of the company and to promote the business as a whole. Directors create and put into action the company’s policies and manage the actions and interactions of the company. Shareholders also possess some non-financial rights, especially in relation to the protection of their invested shares. Shareholders, as well as vote to appoint and remove directors, can also have an effect on the laws of the company, and change directors’ acts so they act according to the company laws, or articles of association. This does not mean that shareholders have a lot of power over the company generally, but their ability to vote does give them some importance and... The paper tells that corporate Governance principles have a big effect on the aspect of the corporate veil. The company structure which separates the power contained by directors in their managing roles and the ownership in the hands of the shareholders has caused problems as to how the corporate veil can affect corporate governance. How can directors be made properly accountable to the shareholders, and does this improve corporate governance? Davies terms this as â€Å"the quest for stockholder democracy†, and says the apparent simple solution of improving levels of democracy and increasing accountability in the corporate structure is difficult to apply in reality. It is suggested that increased participation of shareholders is difficult and maybe not even desirable because it makes decision making more difficult to achieve. It is said that the corporate governance principles in the US are more a result of â€Å"path-dependent history than the ‘natural’ result o f an inevitable evolution toward greater efficiency†. Yet it has been said that the UK system of separate ownership prevents corporate governance from being monitored properly. Such critics say that a more central application of corporate governance is needed, so that it can be more objective and can be implemented more quickly. Shareholders are also not willing in many cases to start litigation when fraud or abuse has happened, because of the costs of litigation that directors often have little trouble of paying but which shareholders may have problems financing in the UK.

Essay Example | Topics and Well Written Essays - 250 words - 83

Essay Example Knowledge of organizational behavior empowers managers to understand employees’ emotions as well as reasons for employees’ behaviors for appropriate managerial decisions and practices that can control the behaviors and attitudes to achieve positive results. The knowledge can for example help a manager to understand reasons for employees’ rebellion towards development of a forum for identifying root cause of the problem for reconciliation. The knowledge of organizational behavior also facilitates understanding among employees by promoting tolerance to cultural and behavioral diversity. This is because it explains existence of such diversities and offers approaches for avoiding and managing diversity based conflicts. Employees’ understanding of an organization’s constructs also aligns their personal values and behavior to the organization’s policies, values, and expectations. Employees of an organization with established ethical values, for ins tance, adhere to the stipulated standards. Similarly, understanding an organization’s fundamental values and objectives identifies the organization’s appropriate structure for achieving the values and objective. An organization with diversified objectives such as provision of specialized but differentiated products would for example require a structure with line managers (Phillips and Gully 6). Knowledge of organizational behavior in an organization therefore aligns management practices, employees’ relations, and organizations’ structures to the organization’s environment and

Inspirational Leaders Essay Example for Free

Inspirational Leaders Essay In 1994, the internet was fresh in the market, and it did not incorporate commerce in its operations. As a result, he saw an opportunity for a new business network, and after doing research, he made a decision of creating a space in the internet where books could be viewed by the public. This led to the creation of Amazon in 1995. Today, Amazon is widely successful and has had a great impact on the organizational culture of internet business. Jeff Bezos is considered to be the founder of e-commerce, remains a pioneer in the industry (Inc, 2009). This paper will discuss how the culture of Amazon has changed as a result of Jeff Bezos presence; today, among many things, the public can view full book lists on Amazon, a mission that was impossible before the early 1990s. Organizational Culture Organizational culture can be related to how an organization organizes itself based on its rules and beliefs; therefore, culture gives an organization an identity. The behavioral patterns of an organization are represented in their norms; according to Kratschmer (2011, p. 2), organizational culture includes values that are shared among the members of an organization. Needless to say, organizational culture can be changed. Kratschmer (2011, p. 3) adds that, organizational culture can be changed and lead to success, only if well managed. In addition, resistance to change is expected in any organization mainly because the employees are already attached to the existing culture; hence, they may resist change for fear of the unknown. Needless to say, changes in organizational culture can be of great benefit, for instance, it may contribute to new knowledge and skills for the employees, and productivity is achieved through motivating employees. Finally, as employees adapt to change, flexibility is achieved, which leads to improvement. However, for organizational culture to be successful, effective leaders must be in place. Culture is very important, as it promotes healthy competition at the place of work, hence motivating employees to perform. A healthy culture promotes employees’ interaction at the place of work, therefore uniting them despite their different backgrounds. Providing employees with a favorable working place increases their productivity. Schein (2010, p. 80) adds that, the shared values and beliefs in an organization are important, as they determine how goals are met. Moreover, a strong culture retains talents, engages employees, creates energy, changes how work is viewed, and contributes towards cooperation at the place of work. Jeff Bezos is one of the few inspirational leaders who have contributed to change of culture in Amazon, leading to the success of the business. Amazon and change in organizational culture When Jeff Bezos discovered the potential of the internet in 1994, nothing held him back from introducing commerce in the system; he abandoned a well-paying job and concentrated on Amazon. Today, amazon. com is one of the internet giants, fostering online retail and an e-reader. Indeed, he is among the founders of e-commerce (Inc, 2009). Within 30 days, he had sold books in all the American states and in 45 countries, with sales worth $20,000 weekly. Since then, the growth of Amazon continuously accelerated, but it 1997, he announced that the company would be unprofitable for some time. However, in 2003, Amazon made its first annual profit, contributing to revenue of $4billion by 2008 (Inc, 2009). The company has embraced e-commerce, and Bezos’ will to start an online bookstore has yielded to a diverse selection of books. Today, he is the founder and chief executive officer of Amazon. com. According to Katzenbach (2008, p. 6), Jeff Bezos insists on fostering positive motivation, which does not involve money. Employees are likely to be motivated to performing their tasks if they are committed and disciplined. Ensuring that respect is fostered among employees will help in maintaining a positive working environment. Amazon. com recognizes employees’ effort by giving a specific employee an award on monthly basis for the capability of making significant savings. Amazon’s culture includes an informal, but effective environment, one that involves fun; this company is obsessed with customers. Therefore, it continuously improves its website and its systems with an aim of serving customers quickly and reliably. It also strives to maintain its culture, which includes talented personnel, who are creative and innovative in finding solutions to challenges (Lussier, 2011, p. 56). Therefore, it is evident that a strong culture is influenced by effective leadership. According to Dubrin (2011, p. 291), the strong organizational culture fosters quality, productivity and morale; such a culture values human dignity, and therefore, it fosters job satisfaction and increases employee motivation. Jeff Bezos has noted that a culture that involves experimentation is crucial in the continuously changing world. Invention may lead one to paths that are considered weird by the world (Dubrin, 2011, p. 291). Before the existence of Amazon, click shopping did not exist; these are some of the changes brought about by Amazon. The company also deals with online shopping for electronics, computers movies, games, music, as well as books. Amazon, being one of the web giants, implies that an effective leader must be diverse, being behind such a company that started very small and transformed into a giant. Bezos is regarded as visionary, but he is keen that his employees meet the demanding schedules; weekly management meetings are set with his managers. In addition, he encourages his employees to be innovative, and a reward program has been implemented that rewards innovative employees (Zakomurnaya, 2007). Moreover, the company hires intelligent and innovative personnel; indeed, Bezos would rather not hire anyone rather than hire the wrong person. Bezos is also approachable and easy -going, which makes him an effective leader. In 2007, Amazon introduced a hand-held electronic book reader, which uses E-ink to bring out a print-like appearance and has no strain on the eyes. In addition, the introduction of I-pad to the world was seen as direct competition for Amazon, therefore, Jeff introduced Kindle Fire, which shares many of the same features as I-pad, but is much cheaper. The Amazon kindle fire is an e-book reader, which is a small hand-held device; this is as a result of technological advances. Nevertheless, these e-book devices are expensive, but advantageous compared to paper copy; indeed, technology has changed in the digital reading world. Another advantage is that these e-readers can be borrowed from libraries. According to Mc Graw Hill (N. d, p. 3), kindle fire is competitive compared to other e-book readers. In 2007, Amazon. com created a successful e-bookstore that allowed client access from any computer or from e-book reader model. Amazon has therefore made book reading easier, and the kindle e-book can be referred to as published. Amazon. com offers a collection of above two million free e-books with titles; therefore, Amazon has succeeded in improving the digital world by providing e-book readers, which assist online clients in accessing digital e-books. For instance, the kindle e-Book reader has a rechargeable battery, which is built in and has a wide internal storage that can fit 1000 full-length books (Mc Graw Hill, N. d, p. 5). Another advantage of owning kindle fire e-book reader is that, the kindler-formatted e-books are easily accessed. In addition, kindle fire can be used as a form of an entertainment device, which allows one to surf the web, send, and receive emails, among other functions. Therefore, Amazon’s Kindle fire is a device of many functions, which is a competition for I-pad among other devices. Amazon prime is a membership program, which enables individuals to receive unlimited fast shipping. Members enjoy a variety of services, which include unlimited and instant streaming of above 10,000 movies and television shows. Amazon prime offers a wide variety of kindle books through the kindle lending library; members who own kindle devices benefit more from reading and borrowing books for free. In addition, members of Amazon prime enjoy free shipping for orders that are above $25, a relatively good deal for customers. Moreover, Amazon prime enables one to try free shipping for one month, and ensures that customers save by spending less, and save time by guaranteeing two day shipping. It also provides unlimited deliveries, hence guaranteeing convenience. Big online shoppers benefit the most, and this is because of the unlimited deliveries that guarantee quality of members’ money. With a range of affordable entertainment, free movies, free kindle e- books, and a two-day shipping for only $75, Amazon prime is a friendly program. Therefore, Jeff Bezos’ intervention has led to a variety of services and products that blow the clients’ minds away. It is this transformation from a small enterprise to an internet giant that has led to a change in culture at Amazon. Conclusion Jeff Bezos, the founder and the chief executive officer of Amazon. com is a visionary, and has contributed to the success of this company through motivating employees with rewards, as well as ensuring that customers’ demands are met. He is an inspiring leader, and despite the fact that he does not value communication, he believes in the â€Å"just-do-it† aspect that motivates employees to perform. Jeff is not limited to only e-books, he has also engages in online retailing of music, movies, clothes, and streaming television shows. The unveiling of kindle fire in 2007 is among his achievements; Amazon prime has also been a competitive advantage for the company and has attracted many members. A strong organization culture requires an effective leader; Amazon is one successful company that has been influenced by an inspirational leader. Indeed, Jeff has contributed to various changes in the organization, which have contributed to successful culture in the organization.

The Resource Based View Analysis

The Resource Based View Analysis This report reviews empirical studies of the resource-based view (RBV) and examines the benefits and limitations of RBV as the best strategy route in the developing a firms strategy. By having a clear and focused strategic intent, it mobilises an organisation towards achieving the desire position. Through analysing its internal and external environment using the resource based view and Porters industry analysis respectively, firm would be able to achieve sustainable competitive advantage. The key to a resource based view is through an understanding the relationships between resources, capabilities, competitive advantage, and economic rent. The RBV identified characteristics of advantage-creating resources such as value, rarity, imitability and Organisation (Clulow et al, 2007; Barney, 1991). In contrast, porters industry analysis focuses on lower cost and product differentiation in achieving sustainable competitive advantage. Despite the conflicting issues, the resource based view has examined issues and new directions that will help to clarify the value and boundaries of the RBV by integrating with Porters industry analysis. Porters framework and the RBV of the firm basically perceived the primary role of strategy as achieving a unique competitive advantage (Hax A. C. and Wilde II D. L., 2003). Thus, both frameworks can complement each other as they emphasise in different dimensions of strategy (Hax A. C. and Wilde II D. L., 2003). (200 Words) Introduction The resource based view of the firm (RBV) is one of the contemporary strategic management concepts to develop a firms strategy. The primary objective of this report is to accept or reject the contention that resource-based view analysis (RBV) has a strong relationship with firms performance in achieving a sustainable competitive advantage. This report reviews the literature on competitive advantage and firm performance. It is divided into five main components. The first section summarizes the literature on competitive advantage from two viewpoints, the Resource Based View (RBV) and Porters Industry Analysis (IA). The second section discusses on the strengths of the RBV in reviews with the literature on strategic intent, threshold resources, capabilities, competitive advantage, core competencies, sustainable competitive advantage and VRIO. The third section illustrates Porters IA in reviews with cost, differentiation, and market focus. The fourth section deliberates the criticisms of the RBV and illustrates how researchers have or have not overcome some of these boundaries. The fifth section is a review of an integration of the RBV and Porters IA in the proposed model of core competencies, competitive advantage and firm performance (Chabert J. M., 1998) (185 Words) The Resource Based View of the Firm Thompson et Al (2010) point out that RBVÂ  [1]Â  uses a companys VRIOÂ  [2]Â  strengths and competitive capabilities to deliver value to customers in way that rivals find it difficult to match. The RBV emphasises the internal capabilities of the organisation in formulating strategy to achieve a SCAÂ  [3]Â  in its markets and industries (Henry, 2008). It holds that firms can earn sustainable abnormal returns if and only they have superior resources and those resources are protected by some form of isolating mechanism preventing their diffusion throughout industry (Value Based Management.net, 2011). The Resourced Based View Assumptions The RBV of firms is based on two main assumptions involved resource diversity and resource immobility (Barney, 1991; Mata et al, 1995). According to Mata et al. (1995), resource diversity concerns whether different firms possess bundles of different resources and capabilities; while resource immobility refers to a resource is difficult to obtain by competitors because it is inelastic in supply or costly. These two assumptions can be used to determine whether an organisation is able to create a SCA by providing a framework for determining whether a process or technology provides a real advantage over the marketplace (Brown, 2007). Thus, the RBV tends to focus on the types of resources and the characteristics of these resources that make them strategically important, the dynamic capability perspective which focuses on how these resources need to change over time to maintain their market relevance (Powell, 2007). The RBV as the best strategy route in developing a firms strategy Today managers are moving manufacturing offshore to lower costs of labour, rationalising product lines to capture global scale economies, instituting quality circles and just in time production, and adopting Japanese human resource practices. It was believed that the application of concepts like strategic fit (between resources and opportunities), generic strategies (low cost, differentiation and market focus) and the strategy hierarchy (goals, strategies, and tactics) have often aided the process of CAÂ  [4]Â  (Hamel and Prahalad 1989; Andrews, 1971). Most companies have approached competitor analysis that focuses on the existing resources like human, technical and financial of present competitors. Whereas, the only threat those companies aware are those with the resources to erode margins and market share in the future. There are few Japanese companies possessed RBV, manufacturing volume or technical competence of U.S. and European leaders. For instance, Canons first halting step s in reprographics business looked pitifully small compared with the $4 billion Xerox powerhouse (Hamel and Prahalad 1989). Strategic Intent Strategic intent envisions a desired leadership position and establishes the criterion the organisation will use to chart its progress where Komatsu set out to encircle Caterpillar. The concept emphasises an active management process that involved focusing the organisations attention on the essence of winning, motivating people by communicating the value of the target, leaving rooms for individual and team contributions, sustaining enthusiasms by providing new operational definitions as circumstances change and using intent consistently to guide resource allocations (Hamel and Prahalad, 1989). Strategic intent captures the essence of winning. For example, the Apollo program where landing a man on the moon ahead of the Soviets was as competitively focused as Komatsus drive against Caterpillar. It is stable over time, in order to challenge global leadership; one of the most critical tasks is to lengthen the organisations attention span. It provides consistency to short term action, which leaving a room for reinterpretation as new opportunities emerge (Hamel and Prahalad, 1989). A firm is said to have a CA when the firm can produce more economically and higher customer satisfaction, and thus enjoy superior performance relative to its competitors (Barney, 1991; Peteraf, 1993). Whereas, Porter (1985) defined CA as the ability to earn returns on investment consistently above the average for the industry by focusing on the companys external competitive environment and how they position themselves against that structure (Halawi L. A., Aronson J. E, and McCarthy R. V., 2005). In contrast, the RBV of strategy points not to industry structure but to the unique cluster of RCÂ  [5]Â  that each organisation possesses (Henry, 2008; Collis and Montgomery 1995; Stalk et al, 1992). Firms Outperform and Maintain Competitive Advantage The Benefits of RBV RBV is best applied for the kind of assessment of a firms existing resource portfolio discussed by Barney (2001) or when exploiting the firms stock of resources to move into new product markets, as in the tradition of Penrose (1959) (Sheehan and Foss, 2007). There are two fundamental reasons for making the RC of the firm the foundation for its strategy. First, it provides the basic direction for a firms strategy and second, they are the primary source of profit for the firm. The RBV perceives the value derived from management skills, information capabilities, and administrative processes can also be regarded as scarce factors able to generate economic rents (Sheehan and Foss, 2007). The concept of a dynamic capability was developed to explain why some firms have been able to outperform their competitors over long periods of time and despite significant changes in the marketplace (Teece et al, 1997). Firms as bundle of Resources Threshold resources are defined as the unique combination of assets and capabilities within a firm that enable firms to develop and implement strategies to meet customers minimum requirements and to improve its overall performance (Scholes J. G., and Whittington, R., 2008). It can be classified as either tangible or intangible resources. Tangible resources refer to the physical assets that a firm possesses and can be characterised as physical resources. In order to add value, these physical resources must be capable to respond to marketplace changes. Intangible resources comprise of human and organisational capitals. It may be embedded in routines and practices that have developed over time within the organisation (Henry, 2008). It includes knowledge based economy, the tacit knowledge and specialist skills of many employees which are difficult for competitors to imitate (Henry, 2008). Nonaka and Takeuchi (1995) differentiate between knowledge that can be seen as tacit and explicit. An explicit knowledge or knowing about is shown through communication that can be readily transferred therefore it requires some form of protection like copyright. Whereas, tacit knowledge or know how cannot be codified and it is revealed through its application and acquired through practices such as beliefs and perspectives (Henry, 2008). RBV and Organisational learning The RBV stresses the significance of developing and enhancing those resources that are distinctive, in particular, distinctive capabilities (Olavarrieta and Ellinger, 1997). Ten3 Business e-Coach (2001) defined capabilities as the capacity for a set of resources to interactively perform a business process. Capabilities, are the type of resources that is a source to SCA because they are based on organisational routines and processes, which are socially complex, knowledge-based (explicit and tacit) and difficult to observe and imitate. A firm is able to possess dynamic and operational capabilities, where dynamic capabilities are defined as those processes that allowed the firm to change its resource base in some ways to meet the differences in strategic and competitive challenges (Zubac et al, 2010; Helfat et al, 2007). The concept of a dynamic capability was developed to explain why some firms have been able to outperform their competitors over long periods of time and despite significant changes in the marketplace (Teece et al, 1997). It is specific and identifiable processes involved conceptualisation, product development, strategic decision making and alliancing (Eisenhardt and Martin, 2000, p. 1105). Conversely, operational capability is the firms capacity to combine, assemble and deploy the firms assets using pre-determined activities, routines, processes and the skills of its employees to make products and services that are a source of potential profits to the firm available to its customers (Spanos and Lioukas, 2001). However a firm will usually focus on certain capabilities consistent with its strategy such as if a firm is pursuing a differentiation strategy, they would focus on new product development, whereas a firm which adopting low cost strategy would focus on improving manufacturing process efficiency (Henry, 2008). Capabilities, however, are not built in short term basis, they are dependent on a firms personnel, its knowledge and understanding of the marketplace and customers requirements and operations (Olavarrieta and Ellinger, 1997). The Competitive Advantage of RBV Competitive advantages and disadvantages in resources are equivalent to strengths and weaknesses respectively, which stimulate cost and differentiation advantages or disadvantages in competitive product markets (Valentin K. E., 2001). An understanding of industry structure guides managers toward productive possibilities for strategic action, which may include positioning the company to be better cope with the current competitive forces, anticipating and exploiting shifts in the forces, and shaping the balance of forces to create a new industry structure that is more favourable to the company (Porter, 2008). The CA gained by these key intangible assets and capabilities is then reflected in superior performance of the firm in financial terms such as higher profits, increased sales or market share (Clulow et al, 2007; Hunt and Morgan, 1995; Collis and Montgomery, 1995; Fahy, 2002; Wilcox-King and Zeithaml, 2001). The Competencies of an Organisations Henry (2008) evaluated competency as the internal capabilities that firms require in order to be able to compete in the marketplace. In addition, Zubac et al (2010) defined CCÂ  [6]Â  as the collective learning of individual members within the firm and their ability to work across organisational boundaries. Prahalad and Hamel (1990, p. 82) stated that: The skills that together constitute core competence must coalesce around individuals whose efforts are not so narrowly focused that they cannot recognise the opportunities for blending their functional expertise with those of others in new and interesting ways. Thus, a CC or strategic capability can be thought as a collection of features that a firm possesses which enable them to achieve CA. Honda and BMW are examples of the organisations that have achieved CC in a way they configure their value chain respectively (Henry, 2008). RBV and Sources of Sustainable Competitive Advantage (SCA) Barney (1991) suggested that there can be heterogeneity or firm-level differences among firms that allow some of them to SCA. Ten3 Business e-Coach (2001) describes SCA as the continued benefit when an organisation is implementing a value-creating strategy that is not being implemented by current or potential competitors and when these competitors are unable to imitate the benefits of this strategy. Therefore, the RBV emphasises strategic choice, changing the management of the firm with the important task of identifying, developing and deploying key resources to maximise returns (Powell, 2007). Bharadwaj et al. propose a framework of SCA for a firm is derived from the assets and capabilities of the firm. The extent of the service firms SCA is basically determined by the degree of imitability inherent in the firms resources. Kerin et al (1992) presented an integrative framework of the literature on first mover advantage, suggesting that the realisation of SCA, through market pioneering, is contingent on the resources that a firm possesses (Olavarrieta and Ellinger, 1997). Strategic resources and Superior performances As a source of CA, RC must have four attributes which is VRIO in order to outperform others. A resource must be valuable as it enables the firm to conceive or implement strategies that improve its efficiency and effectiveness through lower costs and incline of revenue (Ecofine, 2010). Substitutability refers that there must be no strategically equivalent valuable resources that can be exploited to implement the same strategies (12manage, 2008). For instance, Wal-Mart sells most of the same merchandise as its major competitors, but the effectiveness and innovation of its logistics system ensures that it is the market leader in its field. Wal-Marts valuable and imitability point-of-purchase inventory control systems and cross-docking distribution plants have resulted in competitive advantage relative to its major US competitor, K-Mart (Olavarrieta and Ellinger, 1997; Barney, 1995). Porters Framework Porters Industry Analysis There are three sources that is irreproducible such as market structure that limits entry, a companys history which by definition will require time to replicate and tacitness in relationships refers to the routines and behaviours which cannot be imitate since the organisations themselves are unsure how they work (Henry, A., 2008). Porters mentioned that there are only two generic studies to compete either through low cost or product differentiation that lead to superior performance (Hax A. C. and Wilde II D. L., 2003). To assist managers in understanding, improving, and implementing a low cost or differentiation strategy, Porter (1985) developed the value chain framework; it is a generic activity template that is used to decompose the firm into the individual activities it undertakes to create value for the customer (Sheehan and Foss, 2007). Economies of Scale Cost leadership is achieved through the aggressive pursuit of economies of scale, product and process simplification, and significant product market share that allows companies to exploit experience and learning effects (Hax A. C. and Wilde II D. L., 2003). Dell being one of the organisation are protected by scale economies in their direct-sales method, efficient lean-manufacturing approach, expertise in logistics and supply-chain management. Hence, these capabilities provide it with CA and which its competitive rivals have found difficult to imitate (Henry, 2008). Differentiation and Core Competencies A differentiation demand for creating a product that customer perceives as highly valuable and unique (Hax A. C. and Wilde II D. L., 2003). The first-mover advantage refers to firms which benefit from the learning and experience they acquire as a result of being first in the marketplace like Toyota has achieved CC in the production of petrol-and-electric hybrid cars (Henry, 2008). Hence, a CC should provide access to a wide variety of markets, make significant contribution to perceived customer benefits of the end products and difficult to imitate. Honda is one of the organisations that focuses on the technical excellence of 4-cycle engines, have enabled it to leverage its CC to compete in markets from motorcycles to automobiles to a broad range of gasoline-engine products (Grant, M. R., 2001). Market focus Strategy can be viewed as building defences against the competitive forces or finding a position in the industry where forces are weakest. For instance, Paccar, a firm with heavy-truck market, has chosen to focus on one group of customers that is owner-operators. They have customised every single part of the value chain to work well with the forces in its segment. Thus, Paccar has earned a long-run return on equity above 20 % (Porter, 2008). Criticisms RBV Implications The RBV of the firm is a contemporary theory that provides insights on both strategic and organizational issues. An often-recurring critique on the RBV is that its core logic contains circular reasoning in the specification of the relationship between rents and resources (Truijens, 2003). Foss (2000) argued that the VRIO attributes in the RBV that valuable and rare resources can be sources of SCA is tautological. RBV has little attention on the important issues of how resources can develop and change over time. Likewise, the dynamic role played by individuals within organisations is often assumed to be self-evident and therefore seldom addressed (Henry, 2008). Another critique is that it is not sufficient clear in the RBV on how resources contribute to firm-level value creation and that operationalisation is therefore difficult (Sheehan and Foss, 2007; Priem and Butler, 2001) The RBV emphasises on the role of human capital in the creation of CA, which at the same time caused issues for accountants in terms of total business and intangible asset valuation (Toms, 2010). Accountants similarly are concerned with controls which prevent misappropriation of resources that ultimately are shareholders property. Thus, a theory of value also needs to be one of accountability (Toms, 2010). Conclusion Activity drivers and resources share many similarities, both resources and drivers influence a firms cost and differentiation position, and both need managerial involvement in the sense that drivers must be made controllable, while resources must be organized (Sheehan and Foss, 2007). Although these frameworks have often been presented as conflicting views; they can contribute greatly to the development of a strong business strategy. Since they emphasised different dimensions of strategy, they can complement each other. By integrating these frameworks, it enables activity-based view solves implementation issues that are unresolved when using the RBV (Sheehan and Foss, 2007; Barney and Arikan, 2001). It enhances many of the individual weaknesses of the two views. The activity-based view is weak in its assumptions about factor markets, which would be addressed by the RBV (Sheehan and Foss, 2007; Teng and Cummings, 2002). Thus, Porters industry analysis remains crucial and the choice should not be seen as one of either but rather one of complementarity. (2371 Words)

History as Scourge :: essays research papers

History as Scourge How truly the wisest of men used to assert that the souls of despots, if revealed, would show wounds and mutilations – weals left on the spirit, like lash-marks on a body, by cruelty, lust, and malevolence. Tacitus, The Annals of Imperial Rome. Penguin Group. Translation by Michael Grant, 1996 ed. Pg. 202   Ã‚  Ã‚  Ã‚  Ã‚  Tacitus wielded his history like a scourge, excoriating the corruption of emperors and populous alike, attempting to revise the fictions of earlier histories and chart the decay of Roman values and virtue in the early Empire. The end of the Republic in 31 BC was, for Tacitus, the end of freedom and equality in the Roman state. Though he idealized the republic as the embodiment of Roman values and virtue, Tacitus had no illusions, fully recognizing that it was irretrievably lost. The histories of Rome’s emperors after Augustus were, according to Tacitus, tainted by flattery. Venerating the old republic, Tacitus sought to strip away the concealment of earlier historians, revealing emperors and aristocrats as transgressors against Roman values. Tacitus’ view of the purpose of the historian was shaped by his determination to truthfully illuminate the moral character of his subjects. While we may be uncertain with regard to some of the specific events of The Annals, we are quite certain of the actors as they cross the stage. Tacitus leaves us with no doubt about who was virtuous and who was corrupt.   Ã‚  Ã‚  Ã‚  Ã‚  Tacitus portrays the emperor Tiberius as a cunning and ambiguous figure, though Tacitus went to great lengths to resolve the emperors’ uncertain qualities as further evidence of corruption and excess. Tiberius suffers in comparison with his adoptive son, Germanicus. Tacitus always casts Germanicus in a positive light, praising his virtues, comparing him favorably to Alexander the Great who Germanicus surpassed, â€Å"in clemency, self-control, and every other good quality.† In elevating Germanicus to such heights, even raising the possibility that he might have restored the old republic, Tacitus denigrates Tiberius who is cast as scarcely able to conceal his delight at the death of his popular heir. In his final assessment of Tiberius, Tacitus maps the trajectory of his decline into corruption in proportion to his growing power.

The K+ Channel Revisited :: Chemical Neuroscience Chemistry Papers

The K+ Channel Revisited Many scientists enter the field of neuroscience with a desire to understand how the human brain functions to create our actions. Some take a large approach and study reactions to stimulus in live animals. This approach leaves us still wanting to know about things that aren't a result of an outside stimulus. Other scientists take the minimalist approach and start by studying the exact mechanisms of individual cells of the brain. But, what good does that do us for everyday life? There is also the approach of taking our knowledge of behavior from diseases of the brain. Would we have thought about how our brain regulates our moods if it weren't for the fact that some people experience depression, in which the regulation of mood goes amiss? Many of the disease have led us to a deep understanding of the chemical interactions in our brain and body. At a very broad level, and ignoring religious discussions, we can say that every part of our existence is a result of chemical interactions . Besides giving us our substance, chemistry also gives us a mode of communication throughout our bodies. In our brain a large chemical component is that of the action potential that is conducted along a neuron as a result in the changing permeability of the cell. The axons of our neurons are the pathway for the communication that exists in our nervous system. This communication takes the form of an electric signal, also called an action potential. The action potential occurs due to a change in voltage across the membrane of the axon. The change in voltage is achieved by a change in the permeability of the neurons to the ions, Na+, Ca+, and K+.(1)The cell starts with a large concentration of potassium ions, K+, inside the cell, and a large concentration of sodium ions, Na+, outside the cell. The action potential propagates down the axon due to openings and closing of different channels allowing changing of the permeability to the differing ions (10). Channels are proteins that span the membrane of the axon. These proteins have a structure so that they can be allow ions to flow through pores that are only open at the appropriate times. Some of the channels are opened and closed by other chemicals, while some are initiated by a change in the membrane potential.