My Learning Profile Essay

In today’s ever-changing fast-paced world the most important skill one requires is learning how to learn. Transformation is inevitable and one will be forced to learn change or fall significantly behind. Every individual has a distinct way of learning. One must identify his or her learning profile to ensure their success in today’s and future humanity. Additionally, by identifying your learning profile strengths and weaknesses you are provided an avenue for improving yourself in most aspects of every day life. I have incorporated this concept by identifying my learning profile and my learning strengths and weaknesses. Also, I have established a plan to capitalize on these strengths and to mitigate my limitations. This paper will discuss my learning profile broken down into four areas. The areas are: learning times, bottom up or top down learning, quadrants of learning and eclectic disciplines of personal intelligence. To begin, everyone has a favorite time of day–one that is conducive to learning. Some have enhanced concentration in the early hours while others achieve a higher level of knowledge absorption and retention during noon hours. Still, some people are at their peak learning zone during the evening hours. For me, I learn best during the early morning timeframe. I always believed I was a morning learner and Test 1 in the course text supports this theory. This test helped determine the times I am more receptive to learning. Next, I will ascertain the basic aspect of my personal learning style. Understanding if you learn more effectively in unstructured situations or in a logical presentation of facts in a rigid strategy is critical to one’s learning profile. I am the latter. I learn best in a systematic, methodical approach allowing me to master specific details before moving to more general concepts. In other words, I am a Stringer. The next step after comprehending this is to expand further into your learning preferences. Digging a little deeper into one’s profile, it is now imperative to  understand our preferences for dealing with facts or feelings, using logic or imagination, and thinking things through yourself or working with other people. After studying the Four Quadrants for Learning descriptions and evaluating how they relate to my learning abilities and preferences, I have concluded that my learning profile crosses the boundaries and encompasses two of the quadrants. Specifically, I assimilate well with quadrant styles A and B. Style A incorporates my dependency on learning through specific knowledge. This style focuses on verifiable facts on which everyone can agree. Style B thrives on order and sequence. Both quadrants represent my style of learning where you base learning on a solid foundation with direction. Lastly, all of the aforementioned portions of my learning profile are coupled with my learning talent or personal intelligence. Most people believe that their capacity to learn is determined by personal intelligence. Contemporary psychologists have changed the idea of a single learning capacity called intelligence into seven different intelligence learning categories used to enhance one’s learning abilities. After answering the personal intelligence questionnaire in the text, I strongly associated with interpersonal and spatial intelligence. I related somewhat in the interpersonal, linguistic and bodily-kinesthetic intelligence categories. To my surprise, I did not select any choices concerning logical-mathematical intelligence, a category I have always believed I was prominent in. In conclusion, I have discussed the importance of identifying one’s personal learning profile. This profile varies from individual to individual. However, everyone possesses and needs a learning profile. Researching this paper, I have discovered how my brain prefers to process new material, which modes and media of instruction suits me best, and which times of learning I am more receptive to. I have acquired an awareness of myself as a learner, which is the first prerequisite of Peak Learning.

Activity-Based Costing: a Case Study on a Taiwanese Essay

The aim of this paper is to analyze the operational costs of a hot spring inn in the Yang-Ming-Shan area of Taiwan. The activity-based costing method was used to compute lodging, hot spring use and meal serving costs per customer. This paper overcomes all the obstacles to implementing full-scale ABC-based accounting to this hot spring country inn. In this case, products, defined as hot spring use, lodging and meal serving are used as the cost objects. We define five activity centers: the cleaning activity center, the customer service center, the cooking and foodservice center, the reception service center and the management center. Finally, we use the ABC method to calculate the costs of hot spring use, lodging and meal serving as NT$ 31.64, NT$ 306.21 and NT$ 67.28 per customer respectively in the busy winter seasons. The paper also compares the ABC method with the traditional costing method and concludes that the ABC method is practical and appropriate for such a hot spring country inn and yields more accurate information for cost management and pricing decisions. Key Words: Activity-Based costing, Country Inn, Hot Spring, Cost Analysis 1. Introduction Researchers in management accounting have traditionally been, above all, interested in the accounting systems of large manufacturing companies. Most accounting researchers interested in service production have conducted their research in non-profit seeking, public-sector organizations (Pellinen 2003, p. 217). Outside the non-profit sector, the number of studies on the management accounting practices of service organizations (profit seeking) have remained very limited (Brignall et al., 1991; Sharma, 2002). More unfortunately, non-traditional lodging, (i.e. the B&B industry), is totally lacking in management accounting research, in contrast with the traditional lodging industry, which is quite well-researched. The aim of this paper is to illustrate how activity-based costing (ABC) can be applied to a hot spring country inn in order to obtain information on activities and products for decision making purposes. ABC is a cost-accounting method that allocates resource costs to products using a two stage procedure on the basis of activity consumption by drivers. It’s a method which can overcome many of the limitations of traditional cost systems which can distort product cost because they allocate the overhead costs to products mainly by direct labor hours (or volume-related measures). This is particularly prone to result in distortions in cases where there is a large overhead ratio or a high degree of product diversity. The country inn style of non-traditional lodging, especially suitable for ABC application, has various products such as lodging, hot spring use and dining which belong to different market segments. The indirect costs of this inn constitute an important proportion of the total costs (53.46%). In such a typical situation, the valuing of products of this inn may be distorted by a traditional accounting system. This article portrays an attempt to apply the ABC model to a hot spring country inn where the managers normally use a traditional accounting method to acquire product cost information. Our case study is presented in the hope of contributing to management accounting research in the non-traditional accommodations area. In addition to the introduction, there are four main sections in this paper. The subsequent section reviews previous research in management accounting for the lodging industry. The third section presents the ABC model. The fourth section illustrates the implementation of ABC in a specific case. The fifth section compares results of the ABC method and the traditional method. Some conclusions are presented in section six. 2. Literature review Poorani and Smith (1995, p. 58, 63) observe: â€Å"The hotel and the B&B industry have very different financial aspects arising from contrasting ownership motives. In the hotel industry the emphasis is on maximizing profitability whereas the B&B industry has been traditionally characterized by innkeepers who embarked on inn-keeping as a second career to satisfy lifestyle goals. But the current economic environment has blurred that distinction. Hoteliers are trying to be more sensitive to customers’ needs and create an environment for personalized service. Meanwhile, many entrepreneurs are entering the B&B segment with strictly financial motives†. Their investigations attribute financial characteristics to the B&B industry and find that innkeepers in USA with midsize and larger operations not only were highly successful in reaching their career goals but also achieved their economic objectives as measured by return on investment and equity. However, notwithstanding the importance of financial aspects, the studies in cost structure of the B&B industry anywhere in the world were rare. One reason is the inn’s private-ownership arrangements; others are the fragmented industry structure and the lack of systematic cost and revenue data. Unlike the situation in the B&B industry, there have been a large number of studies in the hotel industry. In the management accounting side of the tourism industry, research has been conducted both in tourism management research and in accounting research. Studies have been carried out in passenger transportation (Dent, 1991; Rouse et al., 2002), restaurants (Ahrens and Chapman, 2002), and hotels (Downie, 1997; Edgar, 1998; Noone and Griffin, 1999; Mia and Patiar, 2001; Pellinen, 2003). Downie (1997, p310) emphases the importance of considering how accounting information can be analyzed to support marketing decisions more effectively. Noone and Griffin (1999, p111-128) designed a customer profitability analysis (CPA) integrating activity-based costing (ABC) and customer segments in order to find profit yield in a hotel. Mia and Patiar, (2001, p111) interviewed only 35 managers and indicated that general managers and department managers took equal account of the management accounting system, but general managers were more content with the accounting system and valued financial information more than department managers. Pellinen (2003, p217) studied the pricing decisions in six tourism enterprises (including a hotel) and suggested the enterprises observed all took their prices from the leading company. Thus, the importance of cost accounting is limited with reference to pricing decisions from the managerial viewpoint. Obviously, most of the studies have focused on hotels. As Harris and Brown (1998, p161) pointed out, hotels, which typically comprise food, beverage and lodging, can be used to illustrate that the context of the hospitality product can provide a complete range of characteristics in a single arena. Actually, the B&B industry also has all those characteristics. But this segment, specifically nontraditional lodging (including B&B inns, country inns, small hotels, condominiums, and vacation homes), has remained an enigma to industry analysts and researchers. Lanier et al. (2000, p91) think this is in part because the analysts and researchers willfully overlook it in favor of the traditional lodging industry, pleading lack of data (Statistics dealing with properties of fewer than 20 rooms are usually estimated or based on small samples. Since most country inns do not reach the 20-room threshold, statistics for these properties have not been collected regularly, unlike other industry segments). This is so prevalent in studying management accounting in the accommodation industry and that there is a huge lag for researchers to make up for. Summarizing the above, previous studies on accounting and product costing, pricing of hotels propose that : (1) the knowledge in accounting is essential in hotel management, (2) the connection between accounting information and marketing is important, and (3) activity-based costing, cost-volume-profit analysis, yield management, and segment profit analysis were among the most relevant management accounting methods, (4) the lack of management accounting research in non-traditional lodging industry needs to be made up. 3. Activity-based costing Cooper and Kaplan (1988) have developed what they believe is a better alternative to the traditional cost calculation model. They argue that as products differ in the complex process of manufacture, they consume activities in different proportions. The activity-based costing method (ABC) promoted by Cooper and Kaplan provides a more accurate measure of cost because it traces indirect costs more closely with regard to the different types of activities consumed. Armed with knowledge of what activities are consumed by each product and the resource cost of each activity, one can budget costs for a diversity of products. However, the traditional accounting method usually assigns overhead costs of products by using volume-related allocation bases such as labor hours, direct labor costs, direct material costs, machine hours, etc. This will not critically distort the product costs as the overheads are just a small portion of the production process. But in situation where there is a large diversity of products, or where there is a high level of automation, as Brimson (1991, p. 179) pointed out, the overheads’ distortion will be significant. In our case, for example, high-volume products (hot spring use) may consume more direct labor hours than low-volume products (meal serving), but do not necessarily consume more purchasing activity costs. The ABC model applied to the case of this hot spring country inn is depicted in figure 1. The ABC systems focus on the accurate cost assignment of overheads to products. In the cost assignment view, the assignment of costs through ABC occurs in two stages: cost objects (i.e., products or services) consume activities, activities consume resource costs. In practice, this means that resource costs are assigned to various activity centers by using resource drivers in the first stage. An activity center is composed of a group of related activities, usually defined by function or process. The group of resource drivers is the factor chosen to estimate the consumption of resources by the activities in the activity centers. Every type of resource assigned to an activity center becomes a cost element in an activity cost pool. And, in the second stage, each activity cost is distributed to cost objects by using Figure 1 ABC Model in a Hot Spring Country Inn a suitable activity driver to measure the consumption of activities by products or services (Turney, 1992). Then, the total cost can be calculated by adding the various activities costs to a specific product or service. And the total cost divided by the quantity of the product can acquire the unit cost of product. In our case, the inn provides three products, lodging, hot spring use and meal serving. We define five activity centers, namely the cleaning center, the customer service center, the reception center, the cooking and foodservice center and the management center. Each activity center is composed of related activities, clustered by their function. As Harris and Brown (1998, p161-162) indicated, a hotel operation can be used as an example of hospitality products, in the same way the elements of a hot spring country inn of the B&B industry also can be used to illustrate non traditional accommodation products. For instance, the provision of rooms constitutes a nearly ‘pure service’ product incorporating a large proportion of service elements. It can be defined as the rental of a certain amount of space for a specified period of time and is thus an intangible good containing a high level of service provision. The provision of hot spring use also represents a service product: it includes hot spring rental and service activities. Furthermore, the meal serving provision, comprised of purchasing, distribution and conversion of food into meals, again constitutes a service product. The main advantage of ABC lies in that it provides a more accurate and real cost computation, especially in situations in which product diversity is important and in which the indirect costs, not directly traceable to the products, represent an important proportion of the total costs. In addition, ABC also allows a deeper level analysis of product costs by explaining the relationship between products and activities. The improved accuracy of perception of the cost structure of products and the continuous process improvements in the various departments of an enterprise provide the substance of activity-based management (i.e. using ABC to improve a business). Studies of the implementation of ABC exist in various fields, e.g. of universities (Cropper and Cook, 2000), a hotel (Noone and Griffin, 1999), library service (Ellis-Newman and Robinson, 1998), distribution logistics (Pirttilà ¤ and Hautaniemi, 1995; Themido et al. 2000), (all of which belong to the service sector); of a manufacturing company (Spedding and Sun, 1999), an assembly line (Gunasekaran and Singh, 1999), (which belong to the manufacturing sector); of a wholesale fish market (Lee and Kao, 2001), (agricultural sector); and of a radiotherapy unit (Lievens et al., 2003), (medical sector). All of them agree that ABC is a useful accounting model and able to obtain more accurate information about the cost structure as long as implementing managers choose the right drivers and define activities well. However, it is generally accepted that there is no universally appropriate accounting system suitable to all organizations in all circumstances (Emmanuel et al., 1990). But as Harris and Brown (1998, p162) point out, management accounting needs to be carried out in the context of the hospitality product in order to supply the necessary information for decision-makers if researchers expect to make a significant contribution to the industry.

Body Modification †Deviance in Society Essay

The last decade has seen a dramatic rise in spectacular forms of body modification, including the tattoo renaissance and the phenomena of body piercing, the emergence of neo-tribal practices like scarification and the invention of new, high-tech forms of body art like sub-dermal implants. Therefore, body modification practices have proven to be an interesting field of study for sociologists interested in deviance, social control, and the social construction of problematic behaviour. Much of the sociological research and literature into these practices fits within the symbolic interaction tradition, focusing specifically on the ways that people define body modification, and whether or not they perceive it as being scary or beautiful, dangerous or alluring, rebellious or inclusive. This essay explores the connections between body modification and deviance and seeks to identify whether physical alterations of the body are a rite of passage, a group identifier, or a mechanism of negative sanctioning and social control, believed to be key elements in the social construction of deviant self-identities. The origins of the cultural trend of body modification, unlike those of nearly all other fads, are thousands of years old. Ever since our Neolithic ancestors invented art tens of thousands of years ago, humans have been decorating the human body, as it is the most intimate of canvas (Siebers 2000, p. 212). Most sociological theory about body modification is framed in discussions of labelling and differential association orientations which explain social definitions and the processes through which body modifiers learn how to be successful in changing the ways their bodies look to themselves, and to those with whom they come in contact. The cause of controversy surrounding the issues of tattooing and piercings is directly rooted in the message that these forms of body modification present. The one essential feature all of these deviants share is visibility; they are all, by definition, overt deviants whose rule breaking is immediately apparent. Their deviance is rooted, not in what they have done, or even who they are, but in how they appear (Heitzeg 1996, p.358), therefore, this type of deviance is highly diverse with regard to the how  and why of rule breaking. In modern contexts, body modification practices can be seen as symbolic as they represent the death of conventional beauty standards and the rebirth of new ideals of attractiveness by challenging the classical ideal of the skin as ‘a pristine smooth closed envelope for the self’ (Pitts 2003, p.92). Hence, when a person submits the body to the modification process, it damages the skins basic structure and its integrity, which contradicts the western notion of the body as fixed and unchanging. The fact that Western society is not overtly tribal or strictly racially segregated (Atkinson 2003, p. 99) is perhaps one of the reasons why the importance of bodily appearance in constructing social identity is regarded so suspiciously. Western civilisation has no history of group body modification (Miller 2004, p. 61), and where we have encountered it in others, it has often been regarded as evidence of primitivism and savagery, with efforts made to eradicate it as part of the ‘civilisation’ process. In western culture, body modification practices have been shunned and outcast as the marks of Satan (Miller 2004, p.37) and traditionally, the Christian body was only marked as a sign of shame. In the last few centuries however, these fallacies have subsided to thoughts of mere loathing of any permanent defacing of a person’s body and it has been argued that body modification is ‘no more than just attention seeking self-mutilation, in which only heathens and criminals engage’ (Jones 1998, p. 89). The debates concerning body modification and self-mutilation often suggest that individuals who choose to decorate their bodies through tattooing and piercing are driven by harmful impulses that they cannot understand and do not control. Though many view these forms of body modification as sin and are loath to initiate any permanent modifications beyond those dictated by nature and necessity, others feel that it is a historical footnote about the cultural identity of this era. Though the desire to mark the body does emanate from the inner sense of self, it does not necessarily read as an intentional act of harm to the individual  self (Miller 2004, p. 102). Body modification, despite its interest in intervening with the physical flesh and creating blood, scars, holes and scars, actually is not a violent practice. Individuals partaking in such body modifications such as piercing and tattooing can be seen to be taking a kind of libertarian attitude towards their bodies as these acts of personal choice that demonstrate social independence. Vale & Juno (1999, p.8) believe that amidst an almost universal feeling of powerlessness to ‘change the world’, individuals are changing what they do have power over, their own bodies. Through various forms of body decoration, individuals attempt to resolve ‘ontological insecurities of modernism by deliberate self-identification’ (Pitts 2003, p.113). These are acts of personal choice that demonstrate social independence. The wilful act of modifying one’s body is not a passive, but a deliberate and successful attempt to direct the gaze of society where the individual chooses. In essence, tattooing and piercing puts control into the hands of the individual; control over their body and control over the objectified body, liberating it with alternative forms of power. Within the realms of body modification, you can take control of what you otherwise could not (Vale & Juno 1999, p. 82). Individuals engage in body modification through piercing and tattooing to challenge personal and social invisibility while also adding cultural capital to the body’s surface (Hewitt 1997, p. 112). In part people are using their bodies to reject homogenisation of popular capitalist culture. In an era in which large multi-national corporations dominate the socio-economic landscape, tattoos and piercings cannot be mass produced. They are a personal expression of one’s self. Body modification, through ink and flesh, as well as piercing is an act of self-creation. It is a protest of transient socially constructed features of desirability, inferiority or power. It constitutes a statement of control and ownership over the body in a cultural context characterised by accelerating social control and alienation. The human body is a canvas for the expression of cultural ideas of men and women throughout time and around the world. Therefore, arguments of the positive or negative connotations of tattooing and piercing do not often justify or debase body modifications but seemingly ‘indicate a breakdown between morality and aesthetics’ (Sanders 1989, p.35). The demographic and imagery of tattoos has undergone profound change and reflects the economic, political and social upheaval that has taken place in the 21st century (Turner 1994, p. 70). Tattoos and other forms of body modification have become more pervasive in the last couple of decade with a rise in mainstream clientele (Jones 1998, p. 65). New techniques, artists, technical innovation, professionalism and media attention have helped catapult the frequency and acceptance of body modification in conventional society. Whilst there is a rich history in regards to the ancient practice of permanent body art, a large majority of Western society view it as disruptive, crude, and a form of self-mutilation, seeing tattoos and piercings as marks of disgrace and social deviance (Miller 2004, p.75) whilst often showing little interest in what motivates people to decorate their body in such a way. However, Maffasoli (1995, p.51) suggests in his research that there is a strong fascination from ‘outsiders’ in regards to the art of body modification, although fear of negative sanctioning and lack of understanding regarding the process and the motivational factors of body modification mean people often shy away. This ‘popular interest’ manifests itself in numerous articles in popular magazines, current affairs television, documentaries, music videos, advertising and film. All of these mediums help to disseminate a basic knowledge and awareness of these modification practices to a larger mainstream population. This extended knowledge and interest has seen body modification practices shifted out of the backrooms of adult bookstores and into heavily patronised, high-technology shop-front studios. With middle-class customers increasingly entering the body modification arena (Sanders 1989, p.27) these practices are becoming less taboo and are no longer just the domain of bikers, sailors and social misfits. Tattoos and piercings not only give power and a sense of control to the individual but permits them to record one’s own history and developmental milestones on the body, therefore for some, body modification has a deeper meaning, serving the function of indelibly marking into the flesh  significant events in their lives (Favazza 1996, p. 92). A twenty-eight year old woman framed her decision to have her nostril pierced as a response to her experience of becoming a mother at eighteen, ‘the experience of being a young mother is in part why I chose to get my nose pierced. I felt trapped by others’ expectations, the piercing was a way of pushing through my own desires to deal with in myself the power of the systems that be, and my desire to refuse to conform’ (Holtham 1997). Others imbue private acts of body modification with symbolic power, capable of reclaiming previous experiences of powerlessness or an unpleasant event (Douglas 1970, p. 45). Another young woman shares, ‘I guess as my way of getting some pleasure out of the situation. I had a pair of stitched lips tattooed into the inside of my thigh six months after having been raped which symbolised my inability to speak about the event’ (Holtham 1997). Another reason for becoming a fan of modification practices are to do with enjoying the process and liking the ‘look of it’. Modification recipients speak of the ‘thrill’ and ‘rush’ of the actual moment of the piercing, as well as enjoying playing with healed piercings and adorning their bodies with jewellery (Dunbar & Lahn 1998, p.12). In support of this position, Featherstone (2000, p.55) believes that some individuals simply see their tattoos and piercings as little more than fashion accessories, on par with other forms of jewellery which enhance a certain ‘look’. Certainly, vanity can play a large part in the decision to modify one’s body, for example a tattoo strip around a man’s biceps can make them appear larger just as a tattoo or piercing will call attention to various parts of the female anatomy, especially on the lower back and around the belly button. Despite the diversified reasons for body modifications, most cultures from around the world were unified in their belief that body piercing was an art form with highly important, empowering, and positive connotations (Atkinson 2003, p.72). Whilst modern forms of body modification are seen as a self-motivated expression of personal freedom and uniqueness, ancient cultures usually marked a person to prove membership or non membership of a group, or to express religious, magical, or spiritual beliefs. These forms of body decoration have existed throughout history to mark numerous ideals within societies such as social stratification, servitude, and religious or spiritual rites. In modern times, if you modify your body, particularly in the methods discussed within this essay, you are inevitably changing your appearance whilst stating something about yourself, your lifestyle and social status. You are also making a statement about your income, wealth and class. However, body marks in pre-literate societies were permanent, collective and largely obligatory. Unlike today, they were set within a shared culture of collective meanings, where the significance of a tattoo or mark could be read unambiguously (Featherstone 2000, p.39) . The growing revival of highly visible and sometimes ‘shocking’ primitive body modification practices such as tattooing, multiple piercings and scarification is a personal choice just like cosmetic surgery and body building, which are seemingly more respectful avenues of body modification. People choose to be pierced or inked for aesthetic purposes, spiritual incentives, erotic reasons, fashion trends or a variety of other personal motives. Throughout history, society has always shown a multitude of symbols through body art and decoration, even in its simplest forms. That implicit link between past and present confers not only a sense of antiquity to body modification but also sanction and validity. Today, seeing a person with a body modification may evoke an involuntarily judgment or opinion, even though the conclusion may be wholly inaccurate and prejudicial. An altered body, as well as being a way to establish one’s own individual, unique personality, can also seen as a way to establish oneself in an alternative community (Pitts 2003, p.8). Society perhaps does not consider that the body modifiers or ‘modern primitives’ of today, just like their ancient equivalent, are not only using tribal customs to express themselves through body modification, but are also actually a form of tribe within their own social groups. There is no doubt that body modification is an interesting topic of discussion and one that can only result in examination by society. Tattoos and piercings have been around for millennia, and for the majority of that time, they have always been accepted as a form of art, not mutilation. Body modification such as tattooing and piercing is not a bizarre form of  deviance peripheral to society like many researchers signify but rather an ‘everlasting visual dialogue expressing one’s self-concept, ideas and beliefs’ (DeMello 2000, p.22). Body modification has become a vehicle for people to altar their appearance which can be of significant importance to the individual and can publicly express a rite of passage as well as break the accepted cultural code. As such these forms of body modification are primal forms of self-expression and a reflection of cultural reality. Lack of understanding surrounding participants of body modification can cause negative sanctioning such as unemployment, social ridicule or even ostracism from family and peers and social control practices are experienced to enforce or encourage conformity and deal with behaviour which violates accepted norms. As this essay has sought to explore, modified bodies invariably provoke a strong reaction among those who are not as they elicit a primeval response which touches the core of who we are as people and a society. As a new set of cultural and social meanings are being ascribed to bodies and we experience the re-definition of beauty, it is increasingly clear that society may need to become more accepting and adjust cultural norms to accommodate the novel yet historic culture of social communication through the decorated body. Reference List Atkinson, M., (2003). Tattooed: the Sociogenesis of a Body Art, University of Toronto Press, Canada. DeMello, M. (2000). Bodies of Inscription: A Cultural History of the Modern Tattoo Community, Duke University Press, London. Douglas, M., (1970). Natural Symbols: Explorations in Cosmology, Pantheon Books, New York. Dunbar, A., & Lahn, D., (1998). Body Piercing, Wakefield Press, NSW. Favazza, A.R., (1996). Bodies Under Siege: Self-Mutilation and Body Modification in Culture and Psychiatry, 2nd ed., JHU Press, USA. Featherstone, M., (2000). Body Modification, Sage Publishing, UK. Heitzeg, N., (1996). Deviance: Rulemakers & Rulebreakers, West Publishing Company, USA. Hewitt, K., (1997). Mutilating the Body: Identifying in Blood and Ink, Bowling Green State University Press, USA. Holtham, S., (1997). Body Piercing in the West: a Sociological Inquiry, http://www.bmezine.com/pierce/bodypier.html, retrieved 27/4/09. Jones, A., (1998). Body Art: Performing the Subject, University of Minnesota Press, USA. Maffesoli, M., (1985). The Time of the Tribes: the Decline of Individualism in Mass Society, Sage Publishing, London. Miller, J.C, (2004). The Body Art Book: A Complete Illustrated Guide to Tattoos, Piercings, and other Body Modifications, Penguin Publishing Group Inc., USA. Pitts, V., (2003). In the Flesh: The Cultural Politics of Body Modification, Palgrave MacMillan, USA. Roach Anleu, S., (2006). Deviance: Conformity and Control, 4th edn., Longman, South Melbourne. Sanders, C., (1989). Customizing the Body: The Art and Culture of Tattooing, Temple University Press, USA. Siebers, T., (2000). The Body Aesthetic: From Fine Art to Body Modification, University of Michigan Press, USA. Turner, B.S., (1994). Regulating Bodies, Routledge Press, UK. Vale, V., & Juno, A., (1999). Modern Primitives: An Investigation of Contemporary Adornment & Ritual, Research Publications, San Francisco USA.

Minorities Case Study Example | Topics and Well Written Essays - 1250 words

Minorities - Case Study Example Let us remember however our families. Have already considering the reaction of the parents of a little boy who rather prefers play with dolls than videos games' However the same parents will not see anything scandalous if their daughter prefers the videos game than the same doll. If a boy want to be popular in he school he have to pratice a ''real male sport'' like soccer ,basket-ball football,hockey. When we talk about sexism often we are talking about discrimination against females . This vision is however erroneous because the only fact of thinking that a sexual kind is higher than other is already sexism. "Sexism is the discrimination based one gender, especially discrimination against women. It's also the attitudes, conditions, social gold behaviors that promote stereotyping of roles based one gender" (http://www.thefreedictionary.com/sexism) Sexism is a form of discrimination which rests on the axiologic distinction several sexual kinds, it defines the hierarchical relationship between the two sexual kinds. It is form of a social, moral, political categorization and chocolate 'clairs which impose form of behavior. The word sexism thus covers also discriminations which apply to the men; as the kinds are defined one compared to the other, there is no sexism which is not at the same time applicable to the two sexes. But insofar as the sexism results most of the time in inequalities with the detriment of the women, it became current to indicate by this word the differences and inequalities undergone by the women. The discrimination based on the sex is illegal in many countries, but it do not have any less present. Let's talk about the most obvious discrimination ,against women. It starts sometimes even before birth and continues during the childhood. In some countries , contraception and the modern techniques of abortion are employed to privilege the birth of boys to the detriment of the girls, so that start to create disbalances in the population. Many stereotypes concerning the education of the young girls remained the same ones during the last decades and evolved. More than half of the girls of more than 11 years dedicate at least an hour to it, whereas only 30% of the boys take part in it, and only less than one half an hour. The electronic game are more offered to boys, which tends to inculcate a certain reserve among women who they will become in front of the techniques. In the everyday life, this disparity continues to exist. In the family and domestic world.,it was shown that the women are largely victims of the "double day". On average, they pass a much greater number of weekly hours than the men in family and domestic work. The tendency of the last decade seems to have worsened with unemployment and precariousness. In the professional field the situation is even

Dystopian text - 1984 and v for vendetta Essay Example | Topics and Well Written Essays - 1000 words

Dystopian text - 1984 and v for vendetta - Essay Example The two were written at different times, the novel in 1984 and the movie occurs after 2010 though it was released in 2005 (Overeem 23). The perspectives of the two are the rights of England citizens which have been reduced and their activities watched very closely by a government which is very powerful. There are various similarities and differences between the two and the first similarity lies in the theme of government and bureaucracy. The two depicts a powerful government that is almost totalitarian where one individual is the leader. In the novel, the individual is known as big brother (Beshore and Keller 45). His picture is quite visible on posters all over London. Orwell indicates that the posters are colored and too large for the overall indoor display. In the film, v for vendetta, Chancellor Adam sutler is the leader who is hungry for power. He is depicted as a religious fanatic and uses his position to control the people in England. The similarity in the two is that the two governments are represented by a single powerful leader who all the others report to. However, in 1984, there is the uncertainty in the existence of the leader big brother. According to the author, the issue of whether he is alive, dead or even if he ever existed is uncertain since no one knows his whereabouts. This is different in the film since chancellor Sutler is shown in various episodes of the film. He is therefore known and people are certain about his living throughout the course of the events. To begin with people, let us look at the government and bureaucracy as presented by Orwell in 1984 (Peters 34). There is question as to whether he is able to provide a good vision on to the issue of government and bureaucracy or whether his political perspectives are limited. He equated the phenomenon of bureaucracy with the totalitarian states that had overt repressions in the political arena. According to him, a centralized government represented more power for the

Two topics for two different papers, Broken Windows & Prison Essay

Two topics for two different papers, Broken Windows & Prison - Essay Example But however factual reports and research show that the broken window theory could definitely have an impact in crime reduction and it can be taken as a foundation for other crime reduction strategies. The other article by Wilson and Kelling brings to light the role of foot patrolling officers in helping public regain confidence on law and order. A disorderly place, not necessarily a place where crime occurs per se, becomes an area of fear especially for people living in and around the place. Foot patrolling officers in the earlier days helped remove this fear among the public through order-maintenance. However, in the following years police have been burdened with the additional role of law-enforcement, as a result of which they are forced to abide by certain rules. This has not helped them in achieving their primary duty of order maintenance. According to the authors, one effective alternative to this developing situation could be citizen patrolling. Good examples of which include c ommunity watchmen and setting up of vigilante groups. Despite the efforts by the general public, the patrolling effect of a policeman can be hard to achieve. Thus the article stresses that men in duty should be encouraged to do their extra bit in order to achieve communal harmony. The article ‘The Prison- Industrial Complex’ by Eric Schlosser throws light about the prison system in the United States. The US now has the distinction of holding more citizens in prison than any other country in the world. And a majority of the prison inmates is constituted by non-violent offenders. This has lead to the prison being viewed as an industrial complex, with more prisons being built to house more people. These prisons home a wide variety of criminals, law offenders, even those who are mentally ill, and with respect to their race about half the inmates in the US prisons are African-Americans, and the number of women inmates have

Maritime Economics Essay Example | Topics and Well Written Essays - 2250 words

Maritime Economics - Essay Example Maritime economics refers to the business of shipping which is considered to be quite intriguing. The shipping industry which marked its commencement with the transportation of cargoes has been witnessing increased significance owing to the related advantages and prospects in the field of international development (Cullinane, 2011). Shipping is considered to be a service based industry that is believed to grant the sustenance with regard to the global trade. The subject of maritime economics is believed to have developed and grown based on the study that is supposed to relate to the past record of shipping, for instance contractual understanding relating to shipping as well as trade (Talley, 2012). Performance evaluation indicators are considered to be essential in order to gauge the operating competence with regard to the shipping industry. It is regarded as essential to draw attention to the condition related to operation performance with the intention of further enhancing the performance. There has been stated to remain available numerous kinds of indicators for the reason of using them for assessing the results attained by the shipping companies or the seaports. The prevailing indicators are believed to be of great use owing to their easy computability with the help of the accessible information. The application of the indicators would enable the evaluation of the performance of a particular shipping company and ascertain the degree of contentment of the obtained results. The performance indicators is learnt to gauge the performance of the shipping companies in sectors like tanker, offshore, container, dry bulk and other miscellaneous sectors (Trujillo & et. al., 1999). It needs to be mentioned in this regard that the indicators related to performance measurement is not regarded as structured, comprehensive or constant. The indicators that are used to gauge the performance of the shipping companies is done with the

Intellectual property Essay Example | Topics and Well Written Essays - 500 words

Intellectual property - Essay Example Erik Sherman in his article in The Chief Executive states that securing intellectual property is the only way to stay on the rapidly developing marketplace these days. The companies that do not have time or money for licensing their inventions end up bankrupts very soon nowadays, as the ideas that are not patented or copyrighted are soon plagiarized by the competitors, who spare neither trouble nor expense to get the legal rights on the invention. Thus, in some time, the company may even be sued for using its own invention. In addition, selling the rights to use the intellectual property may become a very good source of profit, especially for the small companies. The Ambient Devices, a company, producing consumer electronics can be brought as an example here, as today it gets 15% of its income just from granting other companies the rights to use its intellectual property, and the managers hope that in the next year this number may grow to the 50%. Andrea. L. Foster, the author of Who Should Own Science emphasizes the importance of sharing the scientific and technology data in order to make the research process more effective. Unfortunately, he forgets about thousands of companies who build their business and research strategies grounding on the existing system of licensing the intellectual property.

Accounting & Finance Research Paper Example | Topics and Well Written Essays - 1000 words

Accounting & Finance - Research Paper Example Question 2 The following is a list of the assets and liabilities of a firm at a particular date. Â £ Premises owned by the firm 20,000 Money owed by the firm to its creditors 3,000 Stock owned by the firm 8,500 Loan received by the firm from a bank 100 The firm's capital at that date is: A. Â £25,400 B. Â £25,600 C. Â £31,400 D. Â £31,600 ... Lists all of the entries in its double-entry accounting records. Is a list of all of the balances brought down in its double-entry accounting records. Question 9 If a sole trader's capital at the beginning of a year was 100,000 and his net profit for the year was 20,000, his capital at the end of the year...... Question 9 answers Cannot be determined from the information given. was 80,000 Was 100,000 Was 120,000 Question 10 A balance sheet is....... Question 10 answers A ledger account, proving that the accounting records 'balance'. A statement showing the market value of firm. A listing, in a particular format, of the balances brought down remaining in the double-entry accounts after the profit and loss account has been prepared. A statement showing the market value of assets and liabilites. Question 11 The following information relates to a sole trader. Total of all assets at 1 June 2,300 Total of all liabilities at 1 June 2,500 Net profit earned during June 1,000 Drawings during June 700 Capital introduced during June 5,000 The sole trader's capital at 30 June was: Question 11 answers 5,100 5,300 5,500 5,600 Question 12 The correct heading for the balance sheet of J. Burton at the end of December 2006 is 'Balance sheet of J. Burton........ Question 12 answers for the period ended 31 December 2006 for the year ended 31 December 2006 as at 31 December 2006 as at 31 December 2005 Question 13 Which

ALS (amyotrophic lateral sclerosis) Term Paper Example | Topics and Well Written Essays - 1500 words

ALS (amyotrophic lateral sclerosis) - Term Paper Example This may cause paralysis at the later stages of the disease. If a muscle is affected by death of its motor neurons, this means that it does not get nourishment. Therefore, the muscle wastes away (atrophy) leading to hardening of the muscle (sclerosis). The main characteristic of this disorder is the destruction and death of the motor neurons in the brain and spinal cord in which before their destruction they develop inclusions in their structures-the axon and cell bodies that are rich in protein. The proteins are believed to be as a result of a problem in the degeneration of protein and these inclusions have a substance called ubiquitin and this combines with one of the proteins associated with ALS for example TAR DNA binding protein. (Murray, 2006) As the motor neurons get destroyed in the lateral and anterior parts of the spinal cord, the neurons are replaced by astrocytes that cause sclerosis. The degeneration of the upper motor neurons that is located in the cortex of the brain results in paralysis, increased reflexes and stiffness of the affected muscles. The degeneration of the motor neurons that is located in the in stem and the horn-like part at the anterior of the spinal cord results in flaccid paralysis, weakness of muscles and atrophy of the muscles, decreased reflexes and decrease in the muscle tone. The initial symptoms of this disorder are generally, muscle weakness affecting mostly those of the arms and legs, cramping, difficulty in swallowing, problems in speech and breathing and stiffness of the muscle that has been affected. (Murray, 2006) When the clinical manifestation is first noticed in the arms and legs, it is referred to as limb-onset ALS whereas if the symptoms affect the speech first it is called bulbar-onset ALS. The bulbar symptoms include difficulty in speech, difficulty in swallowing, drooling, atrophy and fasciculation of the tongue. When the upper motor neurons are affected, the disorder is

Aplastic Anemia Essay Example for Free

Aplastic Anemia Essay Aplasitc anemia is a very rare blood disorder. Sometimes, it is connected with leukemia; it could be a result from chemotherapy given to leukemia patients. In aplastic anemia, the bone marrow does not make the necessary blood cells needed in the blood; however, leukemia is when the blood cells are deformed and not working properly. Leukemia is a cancer where as aplastic anemia is not. Chemotherapy treatment for cancer can lead to the secondary condition of aplastic anemia that may cause slowing down of producing blood cells. What are the anatomical and physiological symptoms and causes for aplastic anemia? What is the diagnosis and what treatments are available for aplastic anemia? One symptom is fatigue from being anemic. Anemia is when the red blood cells are low in the blood. The red blood cells carry the oxygen from your lungs to all parts of the body (Aplastic Anemia and MDS International Foundation, Inc. ). This will cause fatigue when the body does not get enough oxygen. There is a little more than just low red blood count in cells in aplastic anemia. It is when the body doesn’t produce all three different blood cells that the body has: white blood cells, red blood cells, and the platelets termed pancytopenia (Wikipedia). In aplastic anemia, it is when the bone marrow stops producing or slows down in producing these new blood cells. The white ones or leukocytes are to fight infections in the body by attacking and killing bacteria and viruses (Aplastic Anemia and MDS International Foundation, Inc. ), so with out them patients easily catch viruses. A low white blood cell count is called neutropenia (Aplastic Anemia and MDS International Foundation, Inc. . The other is the platelets; they are for blood clots. A low platelet count is called thrombocytopenia (Aplastic Anemia and MDS International Foundation, Inc. ). A low platelet count leads to another symptom that would be uncontrolled bleeding because the body does not have the platelets to stop the bleeding. You can also causes bruising and petechiae (Wikipedia). Some of the other symptoms include shortness of breath, headache, pallor and, ultimately tachycardia and heart failure (Lippincott 508). Bone tenderness should not be present (Mc Phee 454). The cause for aplastic anemia develops when the bone marrow is damaged or in some cases is unknown. About 75 out of 100 cases of acquired aplastic anemia are idiopathic (Aplastic Anemia MDS International Foundation, Inc. ). This means they have no known cause. Sometimes, the case can be from radiation and chemotherapy treatment used for cancer. This can destroy the healthy cells in the bone marrow leading to the secondary condition. Some other causes for secondary condition of aplastic anemia are toxic chemicals and certain drugs, such as the chemical benzene that is found in gasoline, or with the use of certain drugs, including chloramphenicol[-0], carbamazepine[-1], felbamate[-2], phenytoin[-3], quinine[-4], and phenylbutazone[-5] (Wikipedia). Chloramphenicol treatment is followed by aplasia in less than 1 in 40,000 treatment courses, and carbamazepine aplasia is even more rare (Wikipedia). The medication for rheumatoid arthritis is connected to ones getting aplastic anemia; this would be called also a secondary condition when aplastic anemia appears. Likewise Lupus, an autoimmune disorder, can attack the healthy stem cells. This would cause the slowing down or stopping of making the blood cells the body needs. The rest may result from immunologic factors (unconfirmed), severe disease (especially hepatitis), viral infection (especially children), or preleukemic and neoplastic infiltration of bone marrow (Lippincott 397). Therefore, to confirm a diagnosis for aplastic anemia they first take a blood sample to see if the blood count is low. If that shows up low in all the blood cells, the next step is to take a bone marrow sample or biopsy. The bone marrow is usually taken from the large hip bone by a needle. The sample is looked at in a microscope to rule out leukemia, which the blood cells would look abnormal and would be the reason the blood cells are not working properly. However, aplastic anemia would show very little red and white blood cells in the blood stream. Some options of treatment given to patients are medications, bone marrow transplant, and blood transfusion (MayoClinic). Just recently, they have stem cell transplants. The medications are immunosuppressive combine with cyclosporine. Maybe one of the causes is the immune system is attacking its own good blood cells, and these drugs will slow down the process. This medication treatment is usually given until the patient can get a stem cell transplant. The other medication can be used with the immunosuppressive is the growth factor. The new genetically engineered growth factor drugs help with making new white blood cells. That is really important, since the body makes a blood cell that only last for awhile, so the body is always generating new blood cells. However, aplastic anemia patients body for some reason stops this process. The other medicines used are antibiotics either to help prevent infections or already established infection, since the immune system is weak and would not be unable to fight of a common cold. Most likely the doctor will administer them before an infection appears, so that the patient will not get an infection. Those are the medications used and if the condition doesn’t improve, the patient would await for a bone marrow transplant. The bone marrow transplant might have been the first choice, which the medication is administered until the patient can find a match donor. The bone marrow transplant is usually a successful treatment to cure aplastic anemia in people under 55 years old (Aplastic Anemia and MDS International Foundation, Inc. ). Bone marrow transplantation from a related, matched donor can treat aplastic anemia – without recurrence- in about four out of five cases (MayoClinic). Up to half the people with matched, but unrelated, donors can expect to have successful bone marrow transplants (MayoClinic). There’s a chance that your body may reject the transplant, leading to life-threatening complications (MayoClinic). The bone marrow transplant uses a matched blood type. When found, the donor will have surgically removed some of his or her healthy bone marrow. It is then injected intravenously in the blood to the patient. The donated bone marrow will collect to the patient’s bone marrow and help with making new blood cells; it may take two to four weeks to show the new blood cells are producing. Before they even give the aplastic patient the donated marrow, they give them chemo to get rid of the diseased marrow, and will also be administered drugs to help prevent rejection of the bone marrow. Another precaution a doctor may limit the number of blood transfusions before the operation to avoid complications. Technology is advancing that they can use stem cells now instead of bone marrow transplant. The new stem cell transplant is taken from the bone marrow, umbilical cord, or the blood stream of the donor. They just get the stem cell from either of those places, and again like the bone marrow transplant, place the stem cell into the blood stream of the patient. The patient will be given chemo before the procedure as in the bone marrow transplant. This time the complication of the new stem cells will create an immune system that attacks the body of the donor, instead of the body rejecting as in the bone marrow transplant. If this does occur, they also have drugs that will help combat this. The treatment of blood transfusion is not usually used because it is a treatment for fatigue. Fatigue is not a medical emergency. First, use rest to see if it alleviates the symptom. White blood cells only last a day because that is how long they last in the body. That is why the bone marrow is important in making the new cells the body needs. The other complication that blood transfusions may cause is hemorrhaging. For long term recovery, they usually need other treatment along with this procedure. Aplastic anemia is a very rare disease and affects very few people. It is not contagious. It is more commonly diagnosed in young adults and children. It can affect any age group anytime in life and the illness might be brief, also it can come on suddenly or slowly. The symptoms vary depending on the blood cells that they are low in. The patient could have a slight case that might just be observed or to a severe case that needs treatment. A doctor should be the one to make the diagnoses and treatments. Doctors estimate that there are about 900 new cases of aplastic anemia diagnosed in the United States each year (Aplastic Anemia MDS International Foundation, Inc. . Patients need to be extra careful not to get an infection because the body having low white blood cell count would have a hard time combating against viruses. Steps are also taken to prevent hemorrhage: avoiding parenteral injections, suggesting the use of an electric razor, humidifying oxygen to prevent dry mucous membranes, and promoting regular bowel movement (Venes 116). Mortality for aplastic anemias with severe pancytopenia is 80% to 90% (Lippincott 507). In advancing technology today, why not consider to be a bone marrow donor that could save lives of others.

Response to Buckley Essay Essay Example for Free

Response to Buckley Essay Essay According to William F. Buckley, American people everywhere have refrained from Trying to rectify irrational vexations (32). In Buckley essay, Why Dont We Complain? he explains some situations that he was involved in where no one would complain to repair an uncomfortable situation. Through out the essay, Buckley gives three reasons why he believes that the American people do not complain. I agree strongly with Buckley theories. I think that American people do not complain in situations where a complaint is needed. The first theory that he stated is that everyone expects someone else to complain (33). One of the worst ways to solve a dilemma is to expect someone else to do it prior to you. Situations come up all the time where someone is needed to stand out above the rest of the people to get the problem solved. However, what if no one is willing to be the one who attempts to solve the situation? Does this mean the situation will not get fixed? I believe this type of situation happens more than people notice. Expecting someone else to solve the problem was one of the powerful points I felt that Buckley explained in his essay. An example that he used demonstrated this point very well. He was on a train where the temperature was very uncomfortable. It was 85 degrees in the train when the temperature was below freezing outside. He knew that everyone was suffering from the heat, including himself, but no one asked to get the temperature altered (31-32). He then stated this is because people have given up trying to rectify irrational vexations (32). They expect someone else to complain about an unpleasant situation. One example that I recall where this had occurred to me was at work while I was putting in place underground cable. It was an extremely hot day and a very hard day of work. By 4:00 in the afternoon, the water cooler was empty and I was very thirsty. I thought that everyone else was dehydrated also, so I did not pronounce anything to foreman about the empty cooler. By the end of the long day, around 9:00 at night, it was time to go home. Over that entire period, the water cooler never was filled because everyone expected someone else to tell the foreman, who was not accepted by many of my co-workers. The second theory that Buckley used is that people are afraid to state their mind (33). Are people apprehensive to complain? Buckley thinks that people can be afraid to complain. He stated that we are all increasingly anxious in America to be unobtrusive, we are reluctant to make our voices heard, hesitant about claiming our rights; we are afraid that our cause is unjust, or that if it is not unjust, that it is ambiguous, or if not even that, that it is too trivial to justify the horrors of a confrontation with Authority (33). I feel that people sometimes can be scared to fight for their cause. They are afraid what result may come from it. Sometimes I am worried to complain. I think that the cause is not worth the complaint or I may be terrified of what someone may think of me if I complain. An example that I recall where I was afraid to complain happened to me just recently. I took my truck in to a repair shop to get some work done on it. I would call every day to see if it was done, but each time I spoke to the service guy, he would tell me that the mechanic could not find the problem. He placed many new parts in my truck and still did not solve the problem. After two weeks of work, I got my truck back. It was merely a simple problem the mechanic could not locate because of his inexperience. I wanted to complain about the time-consuming service and the lousy mechanic, but I thought that maybe it was unjust because they were busy. I agree with the theory that Buckley includes because I can think of many times where I have felt this way. Should people be afraid to complain or should they always be free minded about an unjust cause? The third point that was made in the essay by Buckley states that the high-powered government is taking rights away from the people. He states, very year, whether the Republican or the Democratic Party is in office, more and more power drains away from the individual to feed vast reservoirs in far-off places; and we have less and less say about the shape of events which shape our future (36). He also says that we accept the government power to hold upon us (36). The government is responsible for the great number of American deaths in Korea and is now responsible for billions of tax dollars spent every year. However, only a few Americans are willing to stand up against the government and strive for what they feel is right. Is this because of the high-powered government? I feel that this may result in  decreasing complaints, but I do not agree completely. The government may have a lot of power over America but I think that Buckley other points support his case stronger. After analyzing Buckley essay, I started to focus on situations like those that he used as examples in the essay. I found many of the same incidents that Buckley stated in the essay true. I thought that the reasons that he uses had significance in the essay. People are expecting someone else to complain, people being afraid, and people not complaining because of the government increase in power all seem like strong-based theories to me.

The Karl Marx book Wage labour and capital

The Karl Marx book Wage labour and capital Written in 1847 by Karl Marx, the German philosopher, political economist and communist revolutionary,  Wage Labour and Capital is an in-depth text centered around the idea that labour power is sold to capitalists. The book was republished by Engels in 1891 as he believed specific changes needed to be made, specifically the distinction between labour and labour power' (1). Marx who was born in Trier Germany in 1818 (2), had a significant impact in developing ideas based around communism and socialism and published these ideas in various works. This specific piece focuses primarily on how a particular economy (capitalist) works, how those in a capitalist economy are exploited and ultimately how the relationship between capital and labour is dialectically self-destructive (Marx-Engels, pg. 203). In this essay, I will discuss exactly what Marx is trying to explain to us with regard to wage labour and capital, as well as demonstrate why he believes the capital system is flawed. Further more, I will provide my own personal view on the subject by explaining which ideas of Marx I agree and perhaps disagree with.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Marx immediately jumps into the discussion of wage labour by posing two basic questions, What are wages? and How are they determined? (Marx-Engels, pg 204). According to Marx, any worker(s) in a capitalist economy are ultimately selling their labour power to the capitalist for a specific sum of money. Marx uses the example of weaving a yard of linen or type-setting a printed sheet. The capitalist is in theory buying the labour power with money, while workers are selling labour power for money. It is clear, however, that the money that is given to the worker(s) by the capitalist could have been spent on any other available commodity, thus the labour power a worker offers is equivalent to any other commodity. As Marx explains in his example, the two marks, with which he bought two pounds of sugar, are the price of the two pounds of sugar. The two marks, with which he bought twelve hours use of labour power, are the price of twelve hours of labour (Marx-Engels, pg 204). In other wor ds, the workers labour power has been exchanged for an amount of commodities measured by money (1). Why is labour power sold by the worker(s) to the capitalist? It is simple, to be able to live! What Marx explains is the fact that the labour which workers engage in is basically the way in which they live their life. Thus, his life-activity is for him only a means to enable him to exist (Marx-Engels, pg 204). A worker must sell this labour in order to be able to live. Their work is what lets them live. The worker also does not reckon labor as a part of his life, it is rather a sacrifice of his life (Marx-Engels, pg 204). It is evident that Marx is trying to expose the fact that labour was not always wage labour, and that a slave did not sell his labour power to a slave owner ((Marx-Engels, pg 205). The concept of wage labour is the result of capitalism, where workers are free to choose whether or not they want to sell this labour power they posses to any willing capitalists who might be interested in buying. Likewise, capitalists have the free choice to fire workers when they believe profits are not being made. When one worker is worn out he can be replaced by another. I found this section extremely intriguing as Marx exposed me to new ideas that I had never considered prior to reading this piece. At first it was hard to comprehend, but I soon understood what he was trying to say. Originally, when I thought of someone working, thats all it was to me, someone working.   Now, however, I see the relationship between labour power and capital. I can see how Marx tries to show us that man is in essence capital and that the labour workers provide is essentially a commodity like all others. The goal of capitalists is to make the most profit possible while maintaining the lowest costs of production. They dont care about the workers, because they mean nothing. It is easy to mistake the fact that we think we need the capitalist when in reality, we are the ones who posse ss the skill and labour power, so ultimately it is he/she who needs us. Though it was somewhat challenging, I felt that Marx made this section extremely rewarding when understood.   Ã‚  Ã‚  In the proceeding section Marx goes into further depth with regard to capital. He explains that it consists of raw materials, instruments of labour and means of subsistence of all kinds, which are utilized in order to produce new raw materials, new instruments of labour and new means of subsistence. However, these components are merely creations of labour, product of labour, [and] accumulated labour. Accumulated labour which serves as a means of new production is capital (Marx-Engels, pg 207). Additionally, we learn that during production, men must interact between one another, exchanging their activities in order to produce something. Only once a definite connection and relation (Marx-Engels pg 207) has been established can their action of production actually occur.  Ã‚  We also learn that these social relations which are created between men constantly change over time with new innovations and developments to means of production. It is as if all components are intertwi ned, whereby social relations of production make up the social relations, society, and, specifically a society at definitive stage of historical development (Marx-Engels, pg 207). Therefore, any society at any specific point in time is displaying the stage of development by mankind. For example, the bourgeois society is responsible for the production relation that is capital. But what exactly is capital? Capital in itself must be the sum of all material products, commodities, exchange values, or social magnitudes.  Ã‚  So what exactly is happening when this capital grows? In other words, capital thrives solely on exchanging itself with wage labour. When capital goes up so does wage labour, and more wage workers are required, resulting in the capitalist to gaining more power over the worker(s).Growth of productive capital, therefore, means that the capitalists is gaining more power over the workers. Marx then goes on to question what will occur to wages when there is a growth of pr oduction capital. What he tells us here is that when productive capital increases, so does the accumulation of labour. As a result the number of capitals in enabled to increase creating more competition amongst them. This increased competition creates tension amongst to capitalists where one wants to be better then the other. One thing thats clear is when the power of labour armies increases, the capitalists has the ability to try and ruin his competitors. How can he do this? Its obvious, sell cheaper than your competitors. You must however find the balance where you can sell cheap enough without harming yourself, and Marx says this can be done by boosting the productive power of labour. Marx also makes it evident that by improving machinery one can create greater division of labour, which would result in increase productive power of labour. This is because there is more division amongst a larger labour force and more improved machinery, which causes the cost of production for the c apitalist to decrease. Thus, as Marx points out, a general rivalry arises among the capitalist to increase the division of labour and machinery and to exploit them on the greatest scale possible (Marx-Engels, pg 212). The question is what will happen according to Marx if this continues? We can conclude by saying that if capital continues to grow, then the competition between the worker(s) will also grow. However, the growth in competition experienced by the working class will be even larger than the rate of growth experienced by capital. After reading the next few sections, I soon realized that they were even more challenging and testing than the previous ones. Marx goes into such depth with regard to the relations between labour power and capital as well as all the components that make up capital. After reading it several times I soon understood how production was ultimately the relations built between men, whereby men had to come to terms by cooperating with one another in a certa in way and mutually exchanging their activities (Marxs-Engels, pg 207). Marx makes it clear that the capitalist goal is to try and increase their productive power as much as possible at whatever cost possible and figure they can do this by lowering all costs of production. This is something experienced every day. Companys attempting to gain market power by improving machinery to lower costs of production, so that they can sell what is being produced at the lowest possible price. It is also clear that workers have to compete with one another more and more. The capitalist doesnt care about the worker at all. We can see how Marx tries to explain how the capitalists are solely concerned with extending markets, but in doing so are contracting the world market as fewer and fewer new markets remain available for exploitation (Marx-Engels, pg 217). As a result he feels the whole system will come down and cave in on itself. To conclude, I felt this piece on wage labour and capital was extremely insightful. I was able to penetrate into the mind of Karl Marx and uncover his personal views on the capitalistic economy and the way in which he feels it is flawed. As he is a strong believer in the communistic ways, it is clear Marx is determined to expose why we mustnt follow the ways of other economies. Though I felt the work was somewhat demanding to understand, after reading it several times I slowly began to make the connections to what he was trying to say. Personally, I enjoyed learning how a strict communist views capitalism and why he thinks its a bad system.

Physics of the Moon :: physics science space

Gravitational Force of Bodies All bodies with mass exert a gravitational pull on the bodies around them, even you and me. The larger the radius and mass of the body the larger the force. Most people know that the force of gravity on earth is much greater than on the moon, but how much larger is it, and how is gravity calculated? German astronomer Johannes Kepler (1576-1630) spent years observing the motion of planets and developed a set of laws for planetary motion. Years after his death Physicist Isaac Newton (1642-1727) used these laws to help him develop his law of universal gravitation. The law of Universal Gravitation states that: "every particle in the Universe attracts every other particle in the universe with a force that is directly proportional to the product of their masses and inversely proportional to the square of the distance between them" (Serway 424). This essential means that the force of gravity increases the larger the masses are and decreases the farther away the masses are. The formula to determine the the magnitude of the gravitational force is: Fg = G (M1M2)/R^2 G is the Universal Gravitational Constant, M1 and M2 is the mass of the two objects and R is the distance between them. On Earth the force of gravity causes all objects to accelerate at 9.8m/s^2. For example, say you have a mass of 1kg on the surface of the earth. The force of gravity between the two objects is given by: Fg= (6.673x10^-11)(5.9736x10^24)(1) (6.3781x10^6)^2 Fg = 9.8 m/s^2 6.672x10^-11 is the value of the universal gravitational constant (G), 5.9736x10^24 is the mass of the Earth (M1) in kg, 1 is the mass of our object on the earth's surface (M2) in kg, and 6.3781x10^6 is the distance between the center of the Earth and the Earth's surface (R) in meters. 9.8 m/s^2 is the acceleration force between objects and the earth On the moon this value is much less because the moon has a smaller mass and radius. If the same 1kg object is on the surface of the moon, the force of gravity on it is given by: Fg = (6.673x10^-11)(7.349x10^22)(1) (1.7381x10^6)^2 Fg = 1.6 m/s^2 7.349x10^22 is the mass of the moon in kg and 1.7381x10^6 is the radius of the moon in meters. On the moon objects experience roughly 1/6 the gravitational force they would on Earth. Two astronuats are playing catch on the moon. They throw and catch the ball at a height of 1.

College Admissions Essay: Aunt Joan and Yoga :: College Admissions Essays

Aunt Joan and Yoga Up until about 40 years ago, yoga was practically unknown to most Americans. When it was introduced to the United States in the '60s, people believed in the incorrect stereotype that it was done only by "hippies," "flower children," and "druggies." Today the term "yoga" is more widely known, now that it is becoming trendier. Yoga is a discipline with a scientific background that was developed over 2000 years ago. In this system of self-development the restless mind is calmed and energy is placed into constructive channels. It is not a religion as some people may be led to believe. It is a philosophy of life. The lessons learned are just as relevant today as they were when they were first created, still keeping the main principle that before you can train your mind to reach a higher consciousness you must first discipline your body. Yoga's popularity is largely due to its wide range of benefits, including therapeutic effects, muscle toning, energy increasing and concentration of the mind. It is also in question as to whether yoga should be considered an art form. My aunt, Joan Brown, is a hatha yoga instructor and is of the opinion that her profession is related to dance. She considers yoga and dance to be part of a natural partnership, both being creative, using fluid movements, stretching, and flexing. Correct breathing is also necessary to be successful in both dance and yoga. Many yoga instructors are known to have some dance training as well. There is also a best-selling video that The New York City Ballet Co. has created which combines dance steps and yoga postures. Joan grew up on the northwest side of Chicago and began studying hatha yoga in the early '70s and has continued to do so ever since. She studied the science and philosophy of yoga at the Himalayan Institute for about 12 years and then later at the Temple of Kriya Yoga for approximately 11 years. Joan feels fortunate that she got started on this path at the right time because she had the opportunity to study under the great teachers that had come from India. For her to become an instructor of yoga, a bachelor degree in the arts wasn't needed, but specific studies were. She completed her certification Level 1 and Level 2 at the Temple of Kriya Yoga.

Fearful Wishing The Monkeys Paw Essay examples -- essays research pa

Fearful Wishing "The Monkey's Paw" What if in this world there is an item that can grant anybody any three wishes? There may even be serious and dangerous consequences to every wish. The strange thing about the ability to get any three wishes that one wants is that it's true."The monkey's paw" written by W.W. Jacobs uses the well known story of being granted 3 wishes but puts a twist on the story creating a horror type story. In the small parlor of Lakesnam Villa a visitor comes named Sergeant Major Morris. The Sergeant Major visits the house of Mr. and Mrs. White and their son Herbert. The sergeant pulls out the monkeys paw and talks about its magic before throwing it in the fire where Mr. white takes it out so that he could keep and use the monkey's paw. One should work for what he wants not wish for it but if one does then be careful what you wish for. If the wish is free then there must be a consequence because nothing is truly free. Mr. and Mrs. White are sitting there at their piano and Mr. White wishes for two hundred pounds with the monkey’s paw. The next day Edward got caught in the machinery and died leaving his parents compensation money. His dry lips shaped the words, "How much?" "Two hundred pounds," was the answer (Jacobs 7). Mr. White wished for 200 pounds and it took a day but he got it at the cost of his son's life however. No matter how harmless the wish sou...

Enterperneurship and Notes

Entrepreneurship—MGT602 VU Table of Contents Lesson No. Title / Topic 1 Introduction 2 The Nature and Importance of Entrepreneurship 3 Entrepreneurial Process/ Start up 4 The Entrepreneurial and Intrapreneurial Mind 5 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 6 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 7 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 8 The Individual Entrepreneur 9 The Individual Entrepreneur (Contd†¦ ) 10 The Individual Entrepreneur (Contd†¦ 11 International Entrepreneurial Opportunities 12 International Entrepreneurial Opportunities 13 International Entrepreneurial Opportunities (Contd†¦ ) 14 International Entrepreneurial Opportunities (Contd†¦ ) 15 International Entrepreneurial Opportunities (Contd†¦ ) 16 Creativity and Business Idea 17 Creativity and the Business Idea 18 Legal Issues for the Entrepreneur 19 Legal Issues for Entrepreneur (Contd†¦ ) 20 Legal Issues for the Entr epreneur (Contd†¦ ) 21 Creating and Starting the Venture 22 Creating and Starting the Business Venture (Contd†¦ 23 Creating and Starting the Venture (Continued) 24 Creating and Starting the Business Plan Continued) 25 The Marketing Plan 26 The Marketing Mix 27 The Organizational Plan 28 The Organizational Plan (Continued) 29 The Organization Plan (Contd†¦ ) 30 The Financial Plan 31 The Financial Plan (Continued†¦ ) 32 Pro Forma Sources and Uses of Funds 33 Pro forma Sources and Uses of Funds 34 Bank Lending Decision 35 Sources of Capital 36 Sources of Capital (Contd†¦ ) 37 Capital Sources in Pakistan Preparing for the New Venture Launch: Early Management Decisions 38 (Contd†¦ ) Page No. 3 06 08 13 15 18 20 22 24 26 29 33 35 37 39 40 43 46 49 52 54 56 58 60 62 65 68 70 72 75 77 81 83 85 87 89 91 95  © Copyright Virtual University of Pakistan 1 Entrepreneurship—MGT602 VU 39 Preparing for the New Venture Launch: Early Management Decisions (Contdâ € ¦ ) 40 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 41 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 96 97 99 42 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 43 New Venture Expansion Strategies and Issues 44 New Venture Expansion Strategies and Issues (Contd†¦ 45 Entrepreneurship and Pakistan 102 103 105 108  © Copyright Virtual University of Pakistan 2 Entrepreneurship—MGT602 INTRODUCTION Lesson 01 LEARNING OBJECTIVES 1. 2. 3. 4. 5. VU 1. To introduce the concept of entrepreneurship and its historical development. 2. To explain the entrepreneurial decision process. 3. To identify the basic types of start-up ventures. 4. To explain the role of entrepreneurship in economic development. 5. To discuss the ethics and racial responsibility of entrepreneurs. NATURE AND DEVELOPMENT OF ENTREPRENEURSHIP The term entrepreneur comes from the French and translates â€Å" between-taker† or go-between. † Earliest Period In this period the money person (forerunner of the capitalist) entered into a contract with the go-between to sell his goods. While the capitalist was a passive risk bearer, the merchant bore all the physical and emotional risks. Middle Ages In this age the term entrepreneur was used to describe both an actor and a person who managed large production projects. In such large production projects, this person did not take any risks, managing the project with the resources provided. A typical entrepreneur was the cleric who managed architectural projects. 7th Century In the 17th century the entrepreneur was a person who entered into a contract with the government to perform a service Richard Cantillon, a noted economist of the 1700s, developed theories of the entrepreneur and is regarded as the founder of the term. He viewed the entrepreneur as a risk taker who â€Å"buy[s] at certain price and sell[s] at an uncertain price, t herefore operating at a risk. † 18th Century In the 18th century the person with capital was differentiated from the one who needed capital. In other words, entrepreneur was distinguished from the capital provider.Many of the inventions developed during this time as was the case with the inventions of Eli Whitney and Thomas Edison were unable to finance invention themselves. Both were capital users (entrepreneurs), not capital providers (venture capitalists. ) Whitney used expropriated crown property. Edison raised capital from private sources. A venture capitalist is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments. 19th and 20th Centuries In the late 19th and early 20th centuries, entrepreneurs were viewed mostly from an economic perspective.The entrepreneur â€Å"contributes his own initiative, skill and ingenuity in planning, organizing and administering the enterprise, assuming the chance of loss and gain. † Andrew Carnegie is one of the best examples of this definition, building the American steel industry on of the wonders of industrial world, primarily through his competitiveness rather than creativity. In the middle of the 20th century, the notion of an entrepreneur as an innovator was established.  © Copyright Virtual University of Pakistan 3 Entrepreneurship—MGT602Innovation, the act of introducing something new, is one of the most difficult tasks for the entrepreneur. VU Edward Harriman and John Pierpont Morgan are examples of this type of entrepreneur. Edward reorganized the Ontario and southern railroad through the northern pacific trust and john developed his large banking house by reorganizing and financing the nation’s industries. This ability to innovate is an instinct that distinguishes human beings from other creatures and can be observed throughout history. DEFINITION OF ENTREPRENEUR The concept of entrepreneurship from a person al perspective has been explored in this century.This exploration is reflected in the following three definitions of an entrepreneur: In almost all definitions of entrepreneurship, there is agreement that we are talking about a kind of behavior that includes: 1. Initiative taking 2. The organizing and reorganizing or social/economic mechanisms to turn resources and situations to practical account. 3. The acceptance of risk or failure. To an economist, an entrepreneur is one who brings resources, labor, materials, and other assets into combinations that make their value greater than before, and one who introduces changes, innovations, and a new order.To a psychologist, such a person is typically driven by certain forces- the need to obtain something, to experiment, to accomplish or perhaps to escape the authority of others. Entrepreneurship is the dynamic process of creating incremental wealth. Our definition of entrepreneurship involves four aspects: 1. Entrepreneurship involves the creation process. 2. It requires the devotion of the necessary time and effort. 3. It involves assuming the necessary risks. 4. The rewards of being an entrepreneur are independence, personal satisfaction, and monetary reward.For the person who actually starts his or her own business there is a high failure rate due to poor sales, intense competition, lack of capital or lack of managerial ability. THE ENTR EPRENEURIAL DECISION PROCESS (Deciding to become an entrepreneur by leaving present activity ) Many individuals have difficulty bringing their ideas to the market and creating new venture entrepreneurship and the actual entrepreneurial decisions have resulted in several million new businesses being started throughout the world.Although no one knows the exact number in the United States. Indeed, millions of ventures are formed despite recession, inflation, high interest rates, and lack of infrastructure, economic uncertainty and the high probability of failure The entrepreneurial decision process entails a movement from something to something— a movement from a present life style to forming a new enterprise. To leave a present live-style to create something new comes from a negative force–disruption. Many companies are formed by people who have retired, moved, or been fired.Another cause of disruption  © Copyright Virtual University of Pakistan 4 Entrepreneurship—MGT602 is completing an educational degree. The decision to start a new company occurs when an individual perceives that forming a new enterprise is both desirable and possible. VU KEY TERMS Breakthrough innovations A new product with some technological change Business ethics The study of behavior and morals in a business situation Desirability of new venture formation Aspects of a situation that make it desirable to start a new company.Entrepreneur Individual who takes risks and starts something new Entrepreneur as an innovator An individual developing something unique Entrep reneurial decision process Deciding to become an entrepreneur by leaving present activity Entrepreneurship Process of creating something new and assuming the risks and rewards  © Copyright Virtual University of Pakistan 5 Entrepreneurship—MGT602 THE NATURE AND IMPORTANCE OF ENTREPRENEURSHIP Lesson 02 VU LEARNING OBJECTIVES 1. To introduce the concept of entrepreneurship and its historical development. . To explain the entrepreneurial decision process. Desirability of New Venture Formation (Aspects of a situation that make it desirable to start a new company) The perception that starting a new company is desirable results from an individual’s culture, subculture, family, teachers and peers. American culture places a high value on being your own boss, being a success and making money therefore, it is not surprising to find a high rate of company formation in the United States.On the other hand in some countries making money is not as valued and failure may be a disgrac e. The rate of business formation in these countries is not as high. Many subcultures that shape value systems operate within a cultural framework. Studies indicate that a high percentage of founders of companies had fathers and/or mothers who valued independence. Encouragement to form a company is also gained from teachers, who can significantly influence individuals. An area having a strong educational base is also a requirement for entrepreneurial activity.Peers are important, also, as is an area with an entrepreneurial pool and peer-meeting place. Possibility of New Venture Formation (Factors making it possible to create a new venture) Although the desire of new venture formation derived from the individual’s culture, subculture, family, teachers and peers needs to be present before any action is taken, the second feature necessary centers around this question â€Å"What makes it possible to form a new company? † Formal education nd previous business experience giv e a potential entrepreneur the skills needed to form and manage a new enterprise. Although educational systems are important in providing the needed business knowledge, individual will tend to be more successful in forming in fields in which they have worked. The government also contributes by providing the infrastructure to help a new venture. The market must be large enough and the entrepreneur must have the marketing know-how to put together the entire package. Finally, financial resources must be readily available.Although most start-up money comes from personal savings, credit, and friends, but there is often a need for additional capital. Riskcapital availability plays an essential role in the development and growth of entrepreneurial activity.  © Copyright Virtual University of Pakistan 6 Entrepreneurship—MGT602 VU KEY TERMS Foundation companies A type of company formed from research and development that usually does not go public. Gazelles Very high growth ventures. Government as an innovator A government active in commercializing technology High-potential ventures.A venture that has high growth potential and therefore receives great investor interest Entrepreneurship Entrepreneurship within an existing business structure Iterative synthesis The intersection of knowledge and social need that starts the product development process Lifestyle firm A small venture that supports the owners and usually does not grow Ordinary innovation Z new product with little technological change Possibility of new venture formation Factors making it possible to create a new venture Copyright Virtual University of Pakistan 7 Entrepreneurship—MGT602 ENTREPRENEURIAL PROCESS/START UPS Lesson 03 LEARNING OBJECTIVES 1. To identify the basic types of start-up ventures. 2. To explain the role of entrepreneurship in economic development 3. To discuss the ethics and racial responsibility of TYPES OF START-UPS Life-Style Firms A life-style firm exists primarily to su pport the owners and usually has little growth opportunity.This type of firm may grow after several years to 30 or 40 employees. Foundation Companies VU A type of company formed from research and development that usually does not go public. This firm can grow in five to ten years from 40 to 400 employees. High-Potential Venture A venture has high growth potential and therefore receives great investor interest. The company may start out like a foundation company, but its growth is far more rapid. After five to ten years the company could employ around 500 employees.These firms are also called gazelles and are most important for the economic development of an area ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT The role of entrepreneurship in economic development involves initiating change in the structure of business and society. One theory of economic growth depicts innovation as the key, not only in developing new products, but also in stimulating investment interest. The new capi tal created expands the capacity for growth (supply side), and new spending utilizes the new capacity and output (demand side. In spite of the importance of investment and innovation in the economic development of an area, there is still a lack of understanding of few factors which are as follows: †¢ The product-evolution process is the process through which innovation develops and commercializes through entrepreneurial activity, which in turn stimulates economic growth. It begins with knowledge in the base technology and ends with products or services available in the marketplace. †¢ The critical point in the process is the intersection of knowledge and a recognized social need, called the iterative synthesis.This point often fails to evolve into a marketable innovation. Most innovations introduced in the market are ordinary innovations, with little uniqueness. Technological innovations refer to new products with significant technological advancements. †¢ †¢ â⠂¬ ¢ Breakthrough innovations mean the development of new products with some technological change. Regardless of the level of uniqueness or technology, each innovation evolves into and develops towards commercialization through one of three mechanisms: the government, entrepreneurship, or entrepreneurship.Entrepreneurship has assisted in revitalizing areas of the  © Copyright Virtual University of Pakistan 8 Entrepreneurship—MGT602 VU inner city. Individuals in inner-city areas can relate to the concept and see it as a possibility for changing their present situation. GOVERNMENT AS AN INNOVATOR A government active in commercializing technology is known as an innovative government. Commercializing technology is frequently called technology transfer. However, few inventions resulting from government-sponsored research have reached the commercial market.Most of the by-products from scientific research have little application to any social need. The government lacks the busines s skills needed for successful commercialization. Government bureaucracy and red tape also often inhibit the timely formation of the business. Recently, federal labs have been required to commercialize some of their technology each year and some are providing entrepreneurial training Intrapreneurship Intrapreneurship refers to entrepreneurship within an existing organization or business structure. Existing businesses have the financial resources, business skills, and arketing and distribution system to commercialize innovation successfully. Often the bureaucratic structure, emphasis on short-term profits, and structured organization inhibit creativity. Some corporations have tried to establish an Entrepreneurial spirit in their organization, some in the form of strategic business units (SBUs. ) Intrapreneurship can also bridge the gap between science and the marketplace. It is the practice of using entrepreneurial skills without taking on the risks or accountability associated with entrepreneurial activities.It is practiced by employees within an established organization using a systemized business model. Employees, perhaps engaged in a special project within a larger firm are supposed to behave as entrepreneurs, even though they have the resources and capabilities of the larger firm to draw upon. Capturing the dynamic nature of entrepreneurial management (trying things until successful, learning from failures, attempting to conserve resources, etc. ) adds to the potential of otherwise static organizations without exposing those employees or self mployed people to the risks or accountability normally associated with entrepreneurial failure. Employee Intrapreneur An employee Intrapreneur is the person who focuses on innovation and creativity and who transforms a dream or an idea into a profitable venture, by operating within the organizational environment. Thus, Intrapreneurs are inside entrepreneurs who follow the goal of the organization. Employees, perhaps e ngaged in a special project within a larger firm are supposed to behave as entrepreneurs, even though they have the resources, capabilities and security of the larger firm to draw upon.Capturing a little of the dynamic nature of entrepreneurial management (trying things until successful, learning from failures, attempting to conserve resources, etc. ) adds to the potential of an otherwise static organizations without exposing those employees to the risks or accountability normally associated with entrepreneurial failure Entrepreneurship The third method for bridging the gap between the science and the marketplace is via  © Copyright Virtual University of Pakistan 9 Entrepreneurship—MGT602 VU entrepreneurship. Many entrepreneurs have difficult time bridging this gap and creating new ventures.They may often lack managerial skills, marketing capabilities, or financial resources. They frequently do not know how to interface with banks, suppliers, customers, and distributors. Ye t, entrepreneurship is the most effective method for bridging the gap and creating new enterprises, these activities affect an areas economy by building the economic base and providing jobs. ENTREPRENEURIAL CAREERS AND EDUCATION Since 1985 there has been an increased interest in entrepreneurial careers fostered by factors such as increased media coverage of entrepreneurs and employment shifts.A conceptual model for understanding entrepreneurial careers views the career stages as interacting with other stages and events in the individual’s life, the life-cycle approach. This approach conceptualizes entrepreneurial careers in nine categories. 1. Educational environment 2. The individual’s personality 3. Childhood family environment 4. Employment history 5. Adult development history 6. Adult family/non-work history 7. Current work situation 8. The individual’s current perspective 9.The current family situation Although there exist a common perception that entrepren eur are less educated than the general population however studies have found entrepreneurs overall and female entrepreneurs in particular, are far more educated than the general population. However, this education sometimes does not develop the specific skills needed in the venture, especially for women entrepreneurs. Childhood influences have been explored, particularly in terms of values and the individual’s personality . The traits most frequently researched are the need for achievement, locus of control, risk-taking, and gender identity.The research on the childhood family environment of the entrepreneur has had more definite results. Entrepreneurs tend to have self-employed fathers, and many also have entrepreneurial mothers. The family plays an important role in establishing the desirability of entrepreneurship as a career. Employment history also has an impact on entrepreneur careers in both positive and a negative sense. Entrepreneurs tend to have a higher probability of success when the venture created is in their field of experience. Negative displacement (such as dissatisfaction with various aspects of ones job) also encourages entrepreneurship.Although no definite research has been done on the adult development history of entrepreneurs, it appears to also affect entrepreneur’s careers. One’s development history has somewhat more of an impact on women, since they tend to start businesses at a later stage in life. There is a lack of data on adult family/non-work history and the available data adds little understanding towards entrepreneurial career development. Entrepreneurs are known for their strong work values, their long workdays, and their dominant management style. They tend to fall in love with the organization and will sacrifice almost Copyright Virtual University of Pakistan 10 Entrepreneurship—MGT602 VU anything in order for it to survive. While in college, few future entrepreneurs realize that they will pursue e ntrepreneurship as their major life goal. Relatively few individuals will start a business immediately after graduation. Entrepreneurship education is a fast growing area in colleges and universities. While the courses vary by university, there is a great commonality, especially in the initial few courses. The skills required by entrepreneurs can be classified in to three main areas: 1.Technical skills involve such things as writing, listening, oral presentations, coaching, and technical know-how. 2. Business management skills include those areas involved in starting, developing and managing any enterprise. 3. Personal entrepreneurial skills differentiate an entrepreneur from a manager and include inner control (discipline), risk taking, innovativeness, persistence, visionary leadership, and being change oriented. These skills and objectives form the basis of the modular approach to an entrepreneurship curriculum.Today entrepreneurs are recognizing the need to learn some of the scie nce of management in an MBA program in order to grow their businesses effectively in the global environment. ETHICS AND SOCIAL RESPONSIBILITY OF ENTREPRENEURS The entrepreneur must establish a balance between ethical exigencies, economic expediency, and social responsibility. A managers attitudes concerning corporate responsibility tend to be supportive of laws and professional codes of ethics. Entrepreneurs have few reference persons, role models, and developed internal ethics codes.Entrepreneurs are sensitive to peers pressure and social norms in the community as well as pressures from their companies. While ethics refers to the â€Å"study of whatever is right and good for humans,† business ethics concerns itself with the investigation of business practices in light of human values. The word â€Å"ethics† stems from the Greek ethos, meaning custom and usage. Development of Our Ethical Concepts Socrates, Plato, and Aristotle provide the earliest writings dealing with ethical conceptions; earlier writings involving moral codes can be found in both Judaism and Hinduism.American attitudes on ethics result from three principle influences: Judeo-Christian heritage, a belief in individualism and opportunities based on ability rather than social status. Research on business ethics can be broken down into four broad classifications: 1. Pedagogically-oriented inquiry 2. Theory-building without empirical testing 3. Empirical research, measuring the attitudes and ethical beliefs of students and academic faculty 4.Empirical research within business environments THE FUTURE OF ENTREPRENE URSHIP In spite of the differences in definition of entrepreneurship, there are common aspects such as risk taking, creativity, independence, and rewards. Entrepreneurship is currently being embraced by educational institutions, governments, societies, and corporations. Schools are increasing their emphasis on entrepreneurship in terms of courses and academic research. In Eu rope many universities have started programs in entrepreneurship. There has also been an increase in academic research, endowed chairs and centers of Copyright Virtual University of Pakistan 11 Entrepreneurship—MGT602 VU entrepreneurial activity. Governments have also promoted the growth of entrepreneurship. Individuals are encouraged to form new businesses and provided tax incentives, roads, and a communications system to facilitate this creative process. Some state governments are developing strategies for fostering entrepreneurial activity. The venture capital industry has benefited from lowering of capital gains tax rates and more relaxed rules regarding pension fund investment. Society’s support of entrepreneurship is critical in providing motivation and public support.The media has played a powerful role in developing public support. Media coverage uplifts the image of the entrepreneur and growth companies. Articles have appeared in newspapers such as New York Ti mes, The Wall Street Journal, and the Washington Post. Business magazines such as Barrons, Business Week, Forbes, and Fortune have provided coverage. Magazines such as Black Enterprise, Entrepreneur, Inc. , and Venture focus on issues of the entrepreneurial process. Television on both a national and local level has highlighted entrepreneurship. Large companies will continue to have a special interest in Entrepreneurship in the future.The largest 15 companies account for over 20 percent of the total U. S. research and development. Other companies will create more new businesses through Entrepreneurship. KEY TERMS Product-evolution process Process for developing and commercializing an innovation Risk taking Taking calculated chances in creating and running a venture. Technological innovation A new product with significant technological advancement Technology transfer Commercializing the technology in the laboratories into new products  © Copyright Virtual University of Pakistan 12 E ntrepreneurship—MGT602THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND LEARNING OBJECTIV ES 1. To explain the aspects of the entrepreneurial process. 2. To explain the differences between entrepreneurial and managerial domains. 3. To explain the organizational environment conducive for entrepreneurship. 4. To identify the general characteristics of an Entrepreneur. 5. To explain the process of establishing entrepreneurship in an organization. VU Lesson 04 ENTREPR E NEURIAL PROCESS The entrepreneurial process involves finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new.Phase 1: Identifying and Evaluating the Opportunity Most good business opportunities result from an entrepreneur being alert to possibilities. Some sources are often fruitful, including consumers and business associates. Channel members of the distribution system-retailers, wholesalers or manufacturer’s reps-are also helpful. Technically -oriented individuals often identify business opportunities when working on other projects. Each opportunity must be carefully screened and evaluated-this is the most critical element of the entrepreneurial process. . The evaluation process involves looking at b. The creation and length of the opportunity c. Its real and perceived value d. Its risks and return. e. It’s fit with the skills and goals of the entrepreneur f. Its differential advantage in its competitive environment It is important to understand the cause of the opportunity, as the resulting opportunity may have a different market size and time dimension. The market size and the length of the window of opportunity are the primarily bases for determining risks and rewards.The risks reflect the market, competition, technology, and amount of capital involved. The amount of capital forms the basis for the return and rewards. The return and reward of the present opportunity needs to be viewed in light of any possible s ubsequent opportunities as well. The opportunity must fit the personal skills and goals of the entrepreneur. The entrepreneur must be able to put forth the necessary time and effort required for the venture to succeed. One must believe in the opportunity enough to make the necessary sacrifices.Opportunity analysis, or an opportunity assessment plan, should focus on the opportunity and provide the basis to make the decision, including: a. A description of the product or service b. An assessment of the opportunity c. Assessment of the entrepreneur and the team d. Specifications of all the activities and resources needed e. The source of capital to finance the initial venture The most difficult aspect of opportunity analysis is the assessment of the opportunity. Phase 2: Develop a Business Plan A good business plan must be developed in order to exploit the opportunity defined.A good business plan is important in developing the opportunity and in determining the resources required, obta ining those resources and successfully managing the venture.  © Copyright Virtual University of Pakistan 13 Entrepreneurship—MGT602 VU Phase 3: Determine the Resources Required. Assessing the resources needed starts with an appraisal of the entrepreneur’s present resources. Any resources that are critical must be distinguished from those that are just helpful. Care must be taken not to underestimate the amount and variety of resources needed. Acquiring needed resources, while giving up as little control as possible, is difficult.The entrepreneur should try to maintain as large an ownership position as possible, particularly in the start-up stage. As the business develops, more funds will probably be needed, requiring more ownership be relinquished. Alternative resource suppliers should be identified, along with their needs and desires, in order to structure a deal with the lowest cost and loss of control. Phase 4: Manage the Enterprise. The entrepreneur must employ t hese resources through implementation of the business plan. This involves implementing a management structure, as well as identifying a control system.KEY TERMS Administrative domain The ways managers make decisions Business plan The description of the future direction of the business Corporate culture The environment of a particular organization Entrepreneurial domain The ways entrepreneurs make decisions Entrepreneurial process The process through which a new venture is created by an entrepreneur Entrepreneurial culture The environment of an entrepreneurial-oriented organization Entrepreneurship Entrepreneurship within an existing business organization Opportunity identification The process by which an entrepreneur comes up with the opportunity for a new venture Opportunity parameters Barriers to new product creation and development Top management commitment Managers in an organization strongly supporting entrepreneurship Traditional managers Managers in a non-entrepreneurial-orie nted organization Window of opportunity The time period available for creating the new venture  © Copyright Virtual University of Pakistan 14 Entrepreneurship—MGT602 VUTHE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 05 LEARNING OBJECTIVES 1. To explain the aspects of the entrepreneurial process. 2. To explain the differences between entrepreneurial and managerial domains. 3. To explain the organizational environment conducive for entrepreneurship. 4. To identify the general characteristics of an entrepreneur. 5. To explain the process of establishing entrepreneurship in an organization. MANAGERIAL VERSUS ENTREPRENEURIAL DECISION MAKING The difference between the entrepreneurial and managerial styles involves five business dimensions. Strategic Orientation The entrepreneur’s strategic orientation depends on his or her perception of the opportunity.This orientation is most important when other opportunities have diminishing returns accompanied by rapid changes in technology, consumer economies, social values or political rules. When the use of planning systems is the strategic orientation, there is more pressure for the administrative domain to be operant. Commitment to Opportunity The entrepreneurial domainis pressured by the need for action and has a short time span in terms of opportunity commitment. The administrative domain (the ways mangers make decisions) is not only slow to act on an opportunity, but the commitment is usually for a longer time span. Commitment of Resources An entrepreneur is used to having resources committed at periodic intervals, often based on certain tasks or objectives being reached.In acquiring these resources the entrepreneur is forced to achieve significant milestones using very few resources. In the administrative domain, the commitment of resources is for the total amount needed. Administrative-oriented individuals receive personal rewards by effectively administering the resources under t heir control. Control of Resources The administrator is rewarded by effective resource administration and has a drive to own or accumulate as many resources as possible. The entrepreneur, under pressure of limited resources, strives to rent resources on an as-needed basis. Managerial Structure In the administrative domain, the organizational structure is formalized and hierarchical in nature.The entrepreneur employs a flat organizational structure with informal networks. CAUSES FOR RECENT INTEREST IN INTRAPRENEURSHIP  © Copyright Virtual University of Pakistan 15 Entrepreneurship—MGT602 VU Interest in intrapreneurship has resulted from events occurring on social, cultural, and business levels. There is an increasing interest in â€Å"doing your own thing. † Individuals frequently desire to create something of their own. They want responsibility and want more freedom in their organizations. Frustration can develop and result in the employee becoming less productive or leaving the organization. This has recently caused more discontent in structured organizations.When meaning is not provided within the organization, individuals often search for an institution, such as entrepreneurship, that will provide it. Intrapreneurship is one method for stimulating and capitalizing on those who think that something can be done differently and better, such as Xerox Corporation’s commitment to Xerox Technology Ventures. It is important to instill the intrapreneurial spirit in an organization in order to innovate and grow. In a large organization problems occur that thwart creativity and innovation. This growth and diversity that can result are critical, since large corporations are more efficient in a competitive market than are smaller firms.The resistance against flexibility, growth, and diversification can be overcome by developing a spirit of entrepreneurship, called Intrapreneurship, within the existing organization. There are social, cultural, and business pressures for Entrepreneurship. Hyper competition has forced U. S. companies to focus on new product development and increased productivity. Reductions in large corporation’s staff are being absorbed in the workforce, particularly in small businesses. Entrepreneurial endeavors consist of four key elements. 1. New business venturing refers to the creation of new business within an existing organization. 2. Organizational innovativeness refers to product and service innovation with an emphasis on development and innovation in technology. 3.Self-renewal reflects the transformation of organizations through the renewal of the key ideas on which they are built. 4. Proactiveness includes initiative and risk taking, as well as competitive aggressiveness KEY TERMS Administrative domain The ways managers make decisions Business plan The description of the future direction of the business Corporate culture The environment of a particular organization Entrepreneurial domain The ways entrepreneurs make decisions Entrepreneurial process The process through which a new venture is created by an entrepreneur Entrepreneurial culture The environment of an entrepreneurial-oriented organization Entrepreneurship  © Copyright Virtual University of Pakistan 16 Entrepreneurship—MGT602Entrepreneurship within an existing business organization Opportunity identification The process by which an entrepreneur comes up with the opportunity for a new venture Opportunity parameters Barriers to new product creation and development Top management commitment Managers in an organization strongly supporting Entrepreneurship Traditional managers Managers in a non-entrepreneurial-oriented organization Window of opportunity The time period available for creating the new venture VU  © Copyright Virtual University of Pakistan 17 Entrepreneurship—MGT602 VU THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 06 LEARNING OBJECTIVES 1. 2. 3. 4. 5. To expl ain the aspects of the entrepreneurial process. To explain the differences between entrepreneurial and managerial domains. To explain the organizational environment conducive for entrepreneurship. To identify the general characteristics of an entrepreneur. To explain the process of establishing entrepreneurship in an organization.CORPORATE VERSUS INTRAPRENEURIAL CULTURE Smaller, aggressive, entrepreneurial firms are developing more new products and becoming dominant in certain markets. Many companies are attempting to create the same spirit, culture, and rewards of entrepreneurship in their organizations. The typical corporate culture has a climate and reward system that favors conservative decision making. Emphasis is on gathering large amounts of data as the basis for a rational decision. Risky decisions are often postponed until hard facts are gathered or a consultant is hired. Often there are so many approvals required that no individual feels personally responsible for the proj ect. The guiding principles in a traditional corporate culture are: 1. 2. 3. 4. 5. 6.Follow instructions given Do not make mistakes Do not fail Do not take initiative Stay within your turf and protect your backside This restrictive environment is not conducive to creativity, flexibility, and risk taking The guiding principles of intrapreneurs Aspects of an Entrepreneurial culture are quite different: 1. 2. 3. 4. 5. Develop visions, goals, and action plans Be rewarded for actions taken Suggest, try, and experiment Create and develop Take responsibility and ownership There are differences in the norms of the two cultures. The traditional culture is hierarchical in nature, with established procedures, lines of authority, and control mechanisms. These support the present corporate culture, and do not encourage new venture creation.The culture of an intrapreneurial firm has a flat organizational structure with networking, teamwork, sponsors, and mentors. Close working relationships help establish an atmosphere or trust that facilitates accomplishment of visions. Individuals make suggestions across functional areas, resulting in cross-fertilization of ideas. The two cultures produce different types of individuals and management styles.  © Copyright Virtual University of Pakistan 18 Entrepreneurship—MGT602 VU Motivation Traditional managers are motivated primarily by promotion and typical corporate rewards. Entrepreneurs and intrapreneurs thrive on independence and the ability to create.Intrapreneurs expect their performance to be suitably rewarded. There are also time orientation differences. Managers emphasize the short run, entrepreneurs the long run, and intrapreneurs somewhere in between. Intrapreneurs use a midpoint mode between delegation of managers and direct involvement of entrepreneurs. Entrepreneurs and intrapreneurs are moderate risk takers; managers are much more cautious. Most entrepreneurs fail at least once, and Intrapreneurs learn to concea l risky projects from management until the last possible moment. Traditional managers tend to be most concerned about those at higher levels, entrepreneurs serve self and customers, and intrapreneurs add sponsors.CLIMATE FOR INTRAPRENEURSHIP In establishing an Intrapreneurial environment, certain factors and leadership characteristics need to be present. The first of these is that the organization operates on the frontiers of technology. Since research and development are key sources for new product ideas, the firm must operate on the cutting edge of technology and encourage and supporting new ideas instead of discouraging them. Second is experimentation, or trial and error, is encouraged. Successful new products usually do not appear fully developed; instead they evolve. A company wanting to establish an intrapreneurial spirit has to establish an environment that allows mistakes and failures.Without the opportunity to fail, few corporate intrapreneurial ventures will be developed. Third an organization should make sure that there are no initial opportunity parameters, such as turf protection, inhibiting creativity in new product development. Fourth, the resources of the firm need to be available and easily accessible. Often, insufficient funds are allocated not to creating something new but instead to solving a problem that have an immediate effect on the bottom line. Some companies, such as Xerox, 3M, and AT&T have established separate venture capital areas for funding new internal ventures. Fifth a multidisciplinary team approach needs to be encouraged.One key to Intrapreneurial success is the existence of â€Å"skunkworks† involving key people. Developing the needed team work for a new venture is further complicated by the fact that a team member’s promotion within the corporation is related to performance in the current position, not in the new venture. The corporate environment must establish a long time horizon for evaluating the success o f the overall program. Sixth the spirit of intrapreneurship cannot be forced on individuals; it must be voluntary. Most managers in a corporation are not capable of being successful intrapreneurs. Those who do emerge from this self selection process must be allowed the latitude to carry a project through to completion.An intrapreneur falls in love with the new venture and will do almost anything to ensure its success. The seventh characteristic is a reward system. The intrapreneur needs to be appropriately rewarded for the energy and effort expended on the new venture. An equity position in the new venture is one of the best motivational methods. Eight a corporate environment favorable for intrapreneurship has sponsors and champions throughout the organization that supports the creative activity and resulting failures. Finally the intrapreneurial activity must be whole-heartedly supported by top management.  © Copyright Virtual University of Pakistan 19 Entrepreneurship—MGT 602 VUTHE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 07 LEARNING OBJECTIVES 1. 2. 3. 4. 5. To explain the aspects of the entrepreneurial process. To explain the differences between entrepreneurial and managerial domains. To explain the organizational environment conducive for entrepreneurship. To identify the general characteristics of an Entrepreneur. To explain the process of establishing entrepreneurship in an organization. INTRAPRENEURIAL LEADERSHIP CHARACTERISTICS There are certain individual characteristics needed for a person to be successful Entrepreneurs, including: 1. Understanding the environment 2. Being visionary and flexible 3. Creating management options 4.Encourage teamwork while employing a multi-disciplined approach 5. Encouraging open discussion 6. Building a coalition of supporters, and persisting An Entrepreneur needs to understand all aspects of the environment. Part of this ability is reflected in individual’s level of creativity . Creativity tends to decrease with age and education. The individual must be creative and have a broad understanding of the internal and external environments of the corporation. The intrapreneurial person must be a visionary leader-a person who dreams great dreams. Leadership is the ability to dream great things and communicate them in a way that people say yes to being a part of the dream.To establish a successful new venture, the intrapreneurial leader must have a dream and overcome all obstacles to achieve it. The third necessary characteristic is that the intrapreneur must be flexible and create management options. An intrapreneur is open to and encourages change. By challenging the beliefs and assumptions of the corporation, an intrapreneur can create something new in the organization structure. He or she must possess the ability to encourage teamwork and use a multi-disciplined approach. Every new company formation requires a broad range of business skills. The intrapreneur must be a good diplomat to minimize disruption. Open discussion must be encouraged to develop a good team for creating something new.Many corporate managers have forgotten that frank, open discussion is part of the learning process. A successful venture can be formed only when the team feels the freedom to disagree and to critique an idea. The degree of openness among the team depends on the degree of openness of the intrapreneur. Openness leads to a strong coalition of supporters and encouragers. The intrapreneur must encourage each team member, particularly during hard times. A good intrapreneur makes everyone a hero. Only through persistence will a new venture be created and successful commercialization result. ESTABLISHING INTRAPRENEURSHIP IN THE ORGANIZATION To establish an intrapreneurial environment, the organization must implement a procedure.This can be done internally, but it is easier to use an outsider to facilitate the process. This is particularly true when the environ ment is very traditional. There are some steps involved in it. Step 1: The first step is to secure a commitment to intrapreneurship in the organization by top, upper, and middle management. Without top management commitment, the organization will never be able to make the necessary changes. Once top management has committed to intrapreneurship for a sufficient length of time, the concept is introduced throughout the organization. This is effectively accomplished through seminars. General guidelines need to be  © Copyright Virtual University of Pakistan 20 Entrepreneurship—MGT602 VU stablished for intrapreneurial venture development. Next, intrapreneurial leaders need to be identified, selected, and trained. Step 2: Ideas and general interest areas should be identified, along with the amount of risk money that is available. The overall expectations and target results should be established, specifying time frame, profitability requirements, and impact of the organization. A m entor/sponsor system needs to be established. Step 3: A company needs to use technology to make itself faster and more flexible. Technology has allowed small companies to act like they are big ones. Large companies can use technology to make them responsive and flexible.Step 4: The organization can use a group of managers to train and share their experiences with other members. These sessions should be conducted one day per month for a specified period of time. Information about intrapreneurship and about the company’s specific activities should be well publicized. Step 5: The organization needs to develop ways to get closer to its customers by tapping the data base, hiring from smaller rivals, and helping the retailer. Step 6: An organization must learn to be more productive with fewer resources. With middle management cutbacks, more control has been given to lower levels of the organization. The span of control should be increased. Step 7: The organization needs to establis h a strong support structure.Because they do not immediately affect the bottom line, intrapreneurial activities can be overlooked and receive little funding. These ventures require flexible, innovative behavior, with the intrapreneurs having total authority over expenditures and access to funds. Step 8: The support must involve trying the rewards to the performance of the intrapreneurial unit. This encourages team members to work harder and compete more effectively. The equity portion of the compensation is particularly difficult to handle. Step 9: The organization needs to implement an evaluation system that allows successful units to expand and unsuccessful ones to be eliminated.PROBLEMS AND SUCCESSFUL EFFORTS Intrapreneurship, also called corporate venturing, is not without problems. One study found that new ventures started within a corporation performed worse than those started independently. Independent start-ups tend to outperform corporate start-ups. There are many examples of companies that have successfully implemented intrapreneurship. 3M allows employees to devote 15 percent of their time to independent projects. After failing to recognize the potential of Wozniak’s personal computer, Hewlett-Packard has taken steps to take advantage of future opportunities. Even IBM has developed the independent business unit concept. The problems of ntrapreneurship are not insurmountable, and the concept can lead to new products, growth and the development of an entirely new corporate environment and culture.  © Copyright Virtual University of Pakistan 21 Entrepreneurship—MGT602 THE INDIVIDUAL ENTREPRENEUR Lesson 08 LEARNING OBJECTIV ES 1. To identify some key entrepreneurial feelings and motivations. 2. To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs. VU ENTREPR E NEURIAL FEELINGS There is no â€Å"true entrepreneurial profile†- entrepreneurs come from many educational backgrounds, family situations, and work experiences.A potential entrepreneur may presently be a nurse, secretary, assembly line worker, sales person, mechanic, home maker, manager or engineer. A potential entrepreneur can be male or female and of any race or nationality. Locus of Control One concern people have when forming is whether they will be able to sustain the drive and energy required to form something new and to manage the new enterprise and make it grow. While research results are inconsistent, internal control seems to be a characteristic of entrepreneurs. Internal beliefs appear to differentiate entrepreneurs from the general public, but not from managers. Managers and entrepreneurs both have an internality tendency. Feelings about Independence and Need for Achievement.The entrepreneur also has the need for i ndependence, to do things in his or her own way and time. Another controversial characteristic is the entrepreneur’s need for achievement. McClelland specified three attributes as characteristics of entrepreneurs: 1. Individual responsibility for solving problems and setting and achieving goals. 2. Moderate risk taking as a function of skill. 3. Knowledge of results of decision/task accomplishment. McClelland concluded that a high need for achievement leads individuals to engage in entrepreneurial behavior, although other studies have been inconsistent. Risk Taking Risk taking seems a part of the entrepreneurial process.However, it has not yet been empirically established whether risk-taking is a distinguishing characteristics of entrepreneurs. ENTREPR E NEURIAL BACKGRO UND AND CHARACT E RIST ICS Only a few background characteristics have differentiated the entrepreneur from the general populace or managers. Childhood Family Environment The impact of birth order and social st atus has had conflicting research results. There is strong evidence that entrepreneurs, both male and female, tend to have self-employed or entrepreneurial fathers. Having a father who is self-employed provides a strong inspiration in the example of independence and flexibility of self-employment.This feeling of independence is often further enforced by an entrepreneurial mother. The overall parental  © Copyright Virtual University of Pakistan 22 Entrepreneurship—MGT602 VU relationship may be the most important aspect of the childhood environment in establishing the desirability of entrepreneurial activity. Parents of entrepreneurs need to be supportive and encourage independence, achievement, and responsibility. This supportive relationship appears to be most important for females. Female entrepreneurs tend to grow up in middle- to upper-class environments, where families are child-centered, and are similar to their fathers in personality.KEY TERMS Departure points The act ivities occurring when the venture is started Inventor An individual who creates something new Locus of control An attribute indicating the sense of control that a person has over life Moral-support network Individuals who give psychological support to an entrepreneur Entrepreneurship – MGT602 VU  © Copyright Virtual University of Pakistan 23 Entrepreneurship—MGT602 VU THE INDIVIDUAL ENTREPRENEUR (continued†¦) Lesson 09 LEARNING OBJECTIVES 1. To identify some key entrepreneurial feelings and motivations. 2. To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs.ENTREPRENEURIAL BACKGROUND AND CHARACTERISTICS Education Education appears important in the upbringing of the entrepreneur, in the level of education obtained and in playing a majo r role in coping with problems. Although formal education is not necessary for starting a new business, it does provide a good background. In education, female entrepreneurs previously experienced some disadvantage, with few having degrees in engineering, science, or math. The ability to deal with people and communicate clearly in written and spoken work is also important. Personal Values Studies have failed to indicate that entrepreneurs can be differentiated on personal valued from managers, unsuccessful entrepreneurs, or the general public. Leadership, support, aggression, benevolence, conformity, creativity, veracity, and resource seeking may also be important.A successful entrepreneur is frequently characterized as a winner; winning may be a prerequisite for his or her actually becoming one. Age Entrepreneurial age is the age of the entrepreneur reflected in the experience. Entrepreneurial experience is one of the best predictors of success. In chronological age, most entrepren eurs start their careers between ages 22 and 55. Earlier starts in an entrepreneurial career seem to be better than later ones. Generally, male entrepreneurs start their first venture in their early 30s, while women tend to do so in their middle 30s. Work History Dissatisfaction with one’s job often motivates the launching of a new venture. Previous technical and industry experience is also important once the decision to start a business is made.Experience in the following areas is particularly important: financing; product or service development; manufacturing; development of distribution channels; and preparation of a marketing plan. As the venture becomes established, managerial experience and skills become more important. Entrepreneurial experience becomes increasingly important as the complexity of the venture increases. MOTIVATION While motivations may vary, the reason cited most often for becoming an entrepreneur independence-not wants to work for anyone else. Other mo tivating factors differ between male and female entrepreneurs. Money is the second reason for men’s starting a venture. Job satisfaction, achievement, opportunity, and money are the second order reasons for women.  © Copyright Virtual University of Pakistan 24 Entrepreneurship—MGT602 VUKEY TERMS Motivations That causes people to do something Need for achievement An individual’s need to be recognized Need for independence. Being one’s own boss-one of the strongest needs of an entrepreneur Professional-support network Individuals who help the entrepreneur in business activities Role models Individuals influencing an entrepreneur’s career choice and style Social status The level at which an individual in viewed by society Work history The past work experiences of an individual  © Copyright Virtual University of Pakistan 25 Entrepreneurship—MGT602 VU THE INDIVIDUAL ENTREPRENEUR (continued†¦) Lesson 10 LEARNING OBJECTIVES 1. To identify some key entrepreneurial feelings and motivations. 2.To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs. ROLE MODELS AND SUPPORT SYSTEMS One of the most important factors influencing entrepreneurs in their career choice is role models. Role models can be parents, relatives, or successful entrepreneurs in the community. Role models can also serve in a supportive capacity as mentors during and after the new venture is launched. This support system is most crucial during the start-up phase.It is important that an entrepreneur establish connections to support resources early in the venture formation process. As contacts expand they form a network with density (extensiveness of ties between two individuals) and centrality (the total distance of the entrepreneu r to all other individuals. ) The strength of ties between the entrepreneur and any individual is dependent on the frequency, level, and reciprocity of the relationship. An informal network for moral and professional support benefits the entrepreneur. Moral-Support Network It is important for the entrepreneur to establish a moral support network of family and friends. Most entrepreneurs indicate that their spouses are their biggest supporters.Friends can provide advice that is more honest than that received from others, plus encouragement, understanding, and assistance. Relatives can also be sources of moral support, particularly if they are also entrepreneurs. Professional-Support Network The entrepreneur also needs advice and counsel, which can be obtained from members of a professional support network. A mentor-protege relationship is an excellent way to secure the needed professional advice. The mentor is a coach, sounding board, and advocate. The individual selected needs to be an expert in the field. An entrepreneur can initiate the â€Å"mentor-finding process† by identifying and contacting a number of experts.The mentor should be periodically apprised of the progress of the business so that a relationship can gradually develop. Another source of advice is a network of business associates. Self-employed individuals who have experience in starting a business are good sources. Clients and buyers are also important as they provide word-of-mouth advertising. Suppliers are good components of the professional-support network-they help to establish credibility with creditors and customers, and provide good information on trends in the industry. Trade associations are good network additions, as they keep up with new developments and can provide overall industry data. Affiliations ith individuals developed in hobbies, sporting events, civic involvements and school alumni groups are excellent sources of referrals, advice, and information. Each entrepreneur needs to establish both a moral- and a professional-support network to share problems with and gain overall support. MALE VERSUS FEMALE ENTREPRENEURS Women are now starting new ventures at three times the rate of men. Women form over 70  © Copyright Virtual University of Pakistan 26 Entrepreneurship—MGT602 VU percent of all new businesses. Women now own over 8. 5 million small businesses, an increase of over 45 percent since 1990. In some respects female entrepreneurs possess very different motivations, business skills, and occupational backgrounds.Factors in the start-up process for male and female entrepreneurs are different, especially in such areas as support systems, sources of funds, and problems. Men are motivated by the drive to control their own destinies. Women tend to be more motivated by the need for achievement arising from job frustration. Departure points and reasons for starting the business are similar for both men and women. Both generally have a strong i nterest and experience in the area of their venture. For men, the transition to a new venture is easier when the venture is an outgrowth of a present job. Women often leave a previous occupation with a high level of frustration and enthusiasm for the new venture rather than experience.Start-Up Financing Males often have investors, bank loans, or personal loans in addition to personal funds as sources of startup capital. Women usually rely solely on personal assets or savings. Obtaining financing and lines of credit are major problems for women. Occupations Both groups tend to have experience in the field of their ventures. Men more often have experience in manufacturing, finance, or technical areas. Most women usually have administrative experience, often in service-related fields. Personality Both men and women tend to be energetic, goal-oriented, and independent. Men are often more confident and less flexible and tolerant than women. Backgrounds The backgrounds of male and female entrepreneurs tend to be similar.Women are little older when they embark on their careers. Men often have studied in technical- or business-related areas, while women tend to have liberal arts education. Many women busi