Sunday, May 24, 2020
There are several important reasons of human resource planning that business organisation carry out regardless their size and it is important for the continuity of any business organisation to plan. However, in many business owners may not include human resource planning at the beginning of their business but later realise the importance of human capital and no business can survive without having competitive human capital. Reasons are human capital, budget control, training and development, and employee satisfaction and cost saving. As business world is quite unpredictable and challenging so Tesco has routinely carried out these analyses to make sure there will be no shortage of staff, which affects the overall performance of theÃ¢â¬ ¦show more contentÃ¢â¬ ¦So Tesco has carried out following human resource planning stages to avert uncertainty surrounding business environment and respond them. Tesco has used this human resource planning stages to become better prepared in the form of customer service and also attracting talented and skilled workers. Assessing human resources Tesco has carried out an environmental scanning process to know both external (PESTEL0and internal (resource, objective structure) challenges and devise strategies to tackle any concern it may discern. This process enable Tesco to review and prepare a list of all jobs required to achieve goals and objectives, and also assess the skills available in within the organisation. Assessing human resource enable Tesco human resource department to find out internal strength as well as weakness that need to be addressed. Demand forecasting With the help of this human resource function Tesco has the ability to estimate demand and supply of HR in the future needs. It helps Tesco to determine the quality and the quantity of the employee it needs. It is done to meet future personal requirement of the organisation to achieve its objectives or desired level of out. According to Tesco HR department this is a yearly process to meet the desired output and efficiency that Tesco wants toShow MoreRelatedThe Role of Human Resources Planning in an Organization1935 Words Ã |Ã 8 PagesPlanning is very important to our everyday activities. Several definitions have been given by different writers on what planning is all about and its importance to achieving our objectives. It is amazing how current organizations are taking this part of human resource important, this is so because most managers have started releasing the value of human resource planning in organizations. Organizations that do not plan for the future have less opportun ity to survive the competition ahead. This articleRead MoreHuman Resource Planning Is The Most Valuable Assets Of Organization Essay1591 Words Ã |Ã 7 Pagesproactive HR practices help an organization to survive in the competitive environment? Introduction Ã¢â¬â Human resource planning is the most valuable assets of organization. It is a ongoing process of systematic planning to achieve optimum use. Human resource planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. In order to realize company objectives, it is essentially to have a human resource plan. Human resource planning is essentially the processRead MoreHuman Resource Management : An Organization s Strategic Planning880 Words Ã |Ã 4 PagesWhen it comes to human resource management, all of the human resource functions have to be perfectly aligned with the organizationÃ¢â¬â¢s strategic plan. 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Strategy formulation provides input as to what is possible givenRead MoreWhat Is Human Resource Planning and How Does It Contribute to Achieving Organization Goals?2204 Words Ã |Ã 9 PagesKALPESH PATEL REF: OX01027/PGDBM UNIT 42, SECOND FLOOR 10-50 WILLOW STREET LONDON What is human resource planning and how does it contribute to achieving organization goals? Be able to analyze the importance of work force planning and explain the difficulties. Analyze in detail the recruitment requirement of a major company including legal requirement of the employer. You should also clarify at this point the accident recording arrangements and the smoking regulation Accidents and firstRead MoreLimitations to Hr Planning1688 Words Ã |Ã 7 PagesHuman resource planning is the process by which the management ensures that the right number of people with the right skills is available at the right time, in the right job, in order to help the organization achieve its objectives. In other words, human resource planning is all about finding out in advance how many workers are needed to perform the tasks, how many employees with the required skills are available within and outside the organization and how is it possible to fulfil the staffing needsRead MoreHow Strategic Management Plan And The Human Resource Planning Process1410 Words Ã |Ã 6 Pagesto keep the organizations moving forward in growth. Management promotes and brings about a change in the structure to keep it active and efficient in the approaches to achieving its goals and objective. The strategy behind the approaches correlation is what leads to actually implementing and providing data to analyze on an ongoing basis to enhance the strategic plan of the organization. The relationship between the eight elements of the staffing process and the human resource planning process helpsRead MoreHuman Resource Management1155 Words Ã |Ã 5 PagesHuman Resource Management Importance of Human Resource Planning and Compensation and benefits to employees and their roles in aiding an organization achieve its business strategy. Define Human Resource Management, Human Resource Planning, Compensation and benefits and their connection leading to employeeÃ¢â¬â¢s satisfaction and meeting the organizationÃ¢â¬â¢s business strategies. Topic Outline I. Introduction II. Human Resources as a source of competitive advantage III. Human Resource Planning Read MoreThe Need and Importance of Human Resource Planning for Cathay Pacific Airlines1466 Words Ã |Ã 6 PagesAbstract The contemporary organizations across the world are well versed with the importance of the fact that human power is among the most critical assets cherished by the organizations. The subject related content of human resources has particularly gained significant importance in the prevailing era on account of its importance in the organizational context. Work force planning is in fact a systematic approach that is used for identifying and addressing calculated gaps or discrepancies of theRead MoreHuman Resource Management933 Words Ã |Ã 4 PagesHuman Resource Planning Definition: Human Resources Planning is defined as the process of assessing an organizationÃ¢â¬â¢s human resources needs in the light of organizational goals and changing condition and making plans to ensure that a competent, stable workforce is employed. The actual planning process will vary a great deal from organization to organization As defined by Bulla and Scott (1994), human resource planning is Ã¢â¬Ëthe process for ensuring that the human resource requirements of an
Monday, May 18, 2020
Sample details Pages: 23 Words: 6891 Downloads: 1 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Organizational culture is considered to be a critical factor in building and reinforcing knowledge management in organizations by impacting how members learn, acquire, and share knowledge. But there is no theoretical framework, to explain the effect of organizational culture in initiating knowledge creation, and its sharing and transferring in organizations. This paper endeavours to develop an integrative framework for organizational knowledge management and organizational culture by identifying the conceptual parallels between theories of organizational culture and knowledge creation and conversion frameworks. DonÃ¢â¬â¢t waste time! Our writers will create an original "Organizational Knowledge Management and Organizational Culture" essay for you Create order The integrative framework of organizational culture and organizational knowledge management would not only facilitate organizational learning and lead to the improvement of knowledge management practices but should also facilitate creation of processes to put that knowledge in action. This paper also presents the implications of suggested integrative framework for theory and practice, and directions for future research. Keywords: Organizational culture, Knowledge Management, Competing Values Framework, Knowledge Creation and Conversion Framework In the era of globalization, knowledge creation and knowledge management has become the dominant factor for organizations global competitiveness (Bhagat, Kedia, Harveston, Triandis, 2002), and it is a crucial progenitor to effective organizational performance and success (Nonaka Takeuchi, 1995; Martin, 2000; Popadiuk Choo, 2006). The significance of knowledge creation and management was highlighted by Nonaka (1991) when he noted succ essful companies are those that consistently create new knowledge, disseminate it widely throughout the organization and quickly embody it in new technologies and products. Knowledge management facilitates organizations to actualize the value of human capital (Brown Woodland, 1999). The organizational culture is considered to be a critical factor in building and reinforcing knowledge creation and knowledge management in organization by impacting how members learn, acquire, and share knowledge (Gummer, 1998; (Knapp Yu, 1999; Gupta Govindarajan, 2000; Martin, 2000; Alavi Leinder, 2001). Paradoxically, the organizational culture has also been identified as the main hindrance to successful knowledge management in organizations (Ribere Sitar, 2003; De Long Fahey, 2000; Rastogi, 2000; Bock, 1999; Knapp Yu, 1999). But it is very little known how organizational culture enables or obstructs knowledge creation and knowledge creation and knowledge management in organizations. It i s evident from the research literature that the primary focus of the studies have been to develop frameworks/models and typologies to define and outline the characteristics of organizational culture, for e.g., the Competing Values Framework (Quinn Rohrbaugh, 1983), the Organizational Culture Profile (OReilly, Chatman, Caldwel, 1991), etc. The recent researches in knowledge management have also unambiguously emphasized the intimate relationship between knowledge management and organizational culture (Nonaka Takeuchi, 1995; Davenport Prusak, 2000; as cited in Holowetzki, 2002). But there is no theoretical framework to explain the effect of organizational culture in initiating knowledge creation, and its sharing and transferring in organizations. In addition, recent studies also increasingly recognize that the organizational and social context of learning is a vital aspect of knowledge creation, conversion and transfer (Easterby-Smith, Snell, Gherardi, 1998). Thus, knowledge manag ement is built on augmenting individual participation in communities of practice (Easterby-Smith, Snell, Gherardi, 1998). In other words, as compared to inert reserve of knowledge, the organizational success is more dependent on the active social processes through which knowledge is created, enhanced, renewed, and transferred. Hence, organizations need to foster cultures where their members are promoted to share knowledge in order to gain competitive advantage, but unfortunately they have little understanding of how to create and leverage it in practice (Wenger, 1998). Therefore, further research is needed to understand the relationship between organizational culture and knowledge creation and its management. In this paper, I have endeavoured to extend previous theories by examining the interrelationships between organizational culture and knowledge creation and knowledge management, and develop an integrative framework for organizational culture and knowledge management in orga nizations by identifying conceptual parallels between theories of organizational culture and knowledge creation and knowledge management frameworks. The integrative framework of organizational culture and knowledge management in organizations would facilitate organizational learning and lead to the betterment of knowledge management practices. It should also facilitate creation of processes to put that knowledge in action. This rest of the paper is structured into six sections. In the first section, I have explained the framework for knowledge creation and conversion (Nonaka and Takeuchi, 1995; Nonaka, Toyama, Konno, 2000). In the next section, I have briefly described the Competing Values Framework (Quinn Rohrbaugh, 1983; 1983) and some conceptual modifications to the Competing Values Framework. In the third section, after examining the linkages and interrelationships between Competing Values Framework and knowledge creation and conversion framework, I have developed an integr ative theoretical framework to understand the relationship between creation and management of knowledge in organizations and its culture. I have briefly discussed the theoretical and practical implications of the proposed integrative model in the penultimate section. I have concluded by highlighting the importance of the proposed integrative model, limitations of the present study, and presenting directions for future research. Knowledge Creation and Knowledge Management: A Theoretical Framework Knowledge is a multifaceted concept and researchers have defined it in many ways. Interesting, while the researchers have unanimously agreed about the significance of knowledge, especially with regard to requirement of the organizations to continuously develop new knowledge to compete in the rapidly changing environment, there is no agreement among the scholars and practitioners with respect to the concepts and definitions related to knowledge and knowledge management (King, 2000; Martin, 2000). According to (Davenport Prusak, 2000; as cited in Holowetzki, 2002) knowledge is a fluid mix of framed experience, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information. (Davenport Prusak, 2000; as cited in Holowetzki, 2002) further explain that in organizations, knowledge often becomes embedded not only in documents or repositories, but also in organizational routines, processes, practices, and norms. According to Malhotra (1997), knowledge that is contained in the minds of organizational members is the greatest organizational resource. Malhotra (1997) further contends that knowledge management is not only about managing knowledge assets, but also managing the interpersonal and organizational processes that act upon these assets. In a 1998 study, Malhotra further defines knowledge management as a synergistic combination of data and information processing capacity of information technologies, and the creative and innovative capacity of human beings. Rastogi (2000) defines knowledge management as a systematic and integrative process of coordinating organization-wide activities of acquiring, creating, storing, sharing, diffusing, developing, and deploying knowledge by individuals and groups in pursuit of major organizational goals. It is the process through which organizations create and use their institutional and collective knowledge by incorporating organizational learning , knowledge production, and knowledge distribution (Rastogi, 2000). Despite the subtle differences between various definitions, scholars agree that effective and efficient knowledge management is central to the organizational performance and success (Martin, 2000; Nonaka Takeuchi, 1995). In this paper, I define knowledge as justified true beliefs derived from accumulated information (Nonaka, 1994), and knowledge creation as the generation of new knowledge (Argote, McEvily, Reagans, 2003). Knowledge Creation and Conversion Nonakas research (Nonaka, 1994; Nonaka Takeuchi, 1995; Nonaka, Toyama Konno, 2000; Nonaka Toyama, 2003) represents the main theoretical underpinning for understanding how organizational knowledge is created, shared, converted and transferred in present-day organizations. Even though some scholars disapprove of Nonakas work for emphasizing the need to convert tacit knowledge (Tsoukas, 2003) and assuming cultural universality (Glisby Holden, 2003), his research provides an internationally agreed terminology that is used to describe a generalized theory of knowledge creation and conversion to which important divergences can be drawn. Therefore, Nonakas framework (Nonaka, 1994, 2005; Nonaka Takeuchi, 1995; Nonaka, Toyama Konno, 2000; Nonaka Toyama, 2003) has been used in this study to describe the process of knowledge creation and conversion in organizations. Scholars generally categorize knowledge into two types tacit and explicit knowledge (Nonaka, 1994, 2005; Nonaka Take uchi, 1995; Nonaka, Toyama Konno, 2000; Nonaka Toyama, 2003). Nonakas research (Nonaka, 1994, 2005; Nonaka Takeuchi, 1995; Nonaka, Toyama Konno, 2000; Nonaka Toyama, 2003) builds on the difference between explicit and tacit knowledge (Polanyi, 1966; as cited in Walsh, Bhatt, Bartunek, 2009). Tacit knowledge, also known as embedded and sticky knowledge, is subjective and experience based knowledge, which cannot be expressed in works, sentences, number or formulas, etc. (Polanyi, 1966; as cited in Walsh, Bhatt, Bartunek, 2009). This also includes cognitive skills such as beliefs, images, intuition, and mental models as well as technical skills such as craft and knowhow (Polanyi, 1966; as cited in Walsh, Bhatt, Bartunek, 2009). Tacit knowledge is deeply embedded in an individuals actions and experience as well as in his/her ideals, values, or emotions (Nonaka Konno, 1998). On the other hand, explicit knowledge or sometimes called leaky knowledge, is objective and rational, whi ch can be documented and can be distributed to others which includes guidelines, procedures, white papers, reports, strategies and others (Nonaka Konno, 1998; Kakabadse, Kouzmin, Kakabadse, 2001). Although both types of knowledge have distinguishing features between them, they actually complement each other so far as knowledge creation and conversion in organizations is concerned. Explicit knowledge without the tacit insight quickly loses its meaning (Nonaka, Toyama Konno, 2000). However, according to Nahapiet Ghoshal (1998), tacitness may be considered as a variable, with a degree of tacitness being a function of extent to which the knowledge is or can be codified or abstracted. Knowledge may dynamically shift between tacit and explicit over time (Nonaka, Toyama Konno, 2000), but some knowledge will always remain tacit (Nahapiet Ghoshal, 1998). Knowledge is created through a process in which various contradictions are synthesized through dynamic interactions among individu als, the organization, and the environment (Nonaka, Toyama, Konno, 2000; Nonaka Toyama, 2003). Besides, the process of knowledge creation is through a spiral that integrates seemingly two opposing concepts such as tacit and explicit, chaos and order, micro individual) and macro (environment), self and other, mind and body, part and whole, deduction and induction, creativity and control, top-down and bottom-up, bureaucracy and task force, and so forth (Takeuchi Nonaka. 2004) Figure 1: Knowledge created through a spiral Source: Nonaka, Toyama, Konno (2000) Nonaka and Takeuchi (1995) have identified four distinct processes socialization, externalization, combination and internalization (SECI) by which new knowledge is created through conversion between tacit and explicit knowledge. Nonaka, Toyama, Konno (2000) have further extended the SECI process and proposed a more detailed framework consisting of two more elements, which explains how organizations create knowledge d ynamically. These two elements are ba, the shared context for knowledge creation; and knowledge assets the inputs, outputs, and moderator of the knowledge-creating process (Nonaka, Toyama, Konno, 2000). The SECI process: four modes of knowledge conversion According to Nonaka and Takeuchi (1995), an organization creates knowledge through the interactions between explicit knowledge and tacit knowledge, and the interaction between the two types of knowledge is known as `knowledge conversion. The basic concept underlying the SECI process is that the knowledge is first created with in the individuals, which is then transmitted to other organization. The approach underlying Nonaka and Takeuchi (1995) model is that knowledge conversion is a social interaction between individuals and not confined within an individual. Figure 2 provides a conceptual diagram of the four modes of knowledge conversion. Figure 2: Conceptual diagram of the SECI process Source: Adapted from Nonaka Takeuchi (1995) Socialization is a process where individuals share experiences with each other, which also includes creation and sharing of mental models, world views, and mutual trust (Nonaka and Takeuchi, 1995; Nonaka Konno, 1998). Socialization also occurs beyond organizational boundaries. Firms often acquire and take advantage of the tacit knowledge embedded in customers or suppliers by interacting with them (Bojnord Afrazeh, 2006). Externalization characterizes the conversion of tacitly held knowledge, such as specialized knowledge held by customers or specialists, into an explicit, readily understandable form (Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000). The conversion of tacit knowledge into explicit knowledge helps it to be crystallized and being shared by others, which becomes basis for creation of new knowledge (Nonaka, Toyama, Konno, 2000; Byosiere Luethge, 2004). The successful conversion of tacit knowledge into explicit knowledge depends on the sequential use of metaphor, analogy, and model (Nonaka, Toyama, Konno, 2000). The above two modes, which use tacit knowledge as an input, represent exploration processes (Popadiuk Choo, 2006). The other two modes of knowledge creation, which employ explicit knowledge as an input, represent exploitation processes (Popadiuk Choo, 2006). Combination is the next stage where existing explicit knowledge is articulated, shared, and reconfigured into more complex and systematic sets of explicit knowledge (Nonaka and Takeuchi, 1995; Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000; McIntyre, Gauvin, Waruszynski, 2003). This process is facilitated by large-scale databases and computerized communication networks (Nonaka, Toyama, Konno, 2000). Finally, the internalization mode is the process where explicit knowledge is embodied and internalized through knowledge interpretation and is converted into tacit knowledge (Nonaka, Toyama, Konno, 2000; Byosiere Luethge, 2004). When knowledge is internalized to become part of individuals tacit knowledge bases in the form of shared mental models or technical know-how, it becomes a valuable asset ((Nonaka, Toyama, Konno, 2000). This tacit knowledge accumulated at the individual level can then set off a new spiral of knowledge creation when it is shared with others through socialization (Nonaka, Toyama, Konno, 2000). Instead of progressing in sequential stages, these four modes represent essential components of an optimal spiral of knowledge creation, which amplifies knowledge created by individuals and crystallizes it as a part of the knowledge network of the organization (Nonaka, 1994). Ba: shared context in motion for knowledge creation Contrary to the Cartesian view of knowledge, which emphasizes the absolute and context-free nature of knowledge, Nonaka (1994) and Nonaka, Toyama, Konno (2000) assert that the knowledge-creation is basically a rational process, which requires baÃ Ã or shared context. Ba is the key in knowledge creation, generation and regeneration as it provides the energy, quality, and place to perform the individual conversions and to move along the knowledge spiral (Nonaka Konno, 1998). Ba, however, does not essentially mean a physical space; it, in fact, means a specific time and space (Nonaka, Toyama, Konno, 2000). The key idea in understanding ba is interaction among those who share the context, and such interactions consequently results in knowledge creation (Nonaka, Toyama, Konno, 2000). There are two dimensions of interactions: one dimension characterizes whether the interaction takes place individually or collectively, and the other dimension characterizes whether the intera ction takes place through face-to-face contact or virtual media such as books, manuals, e-mails, etc. (Nonaka, Toyama, Konno, 2000). Ba is classified into four types on the basis of the dimensions of interactions: (i) originating ba, (ii) dialoguing ba, (iii) systemizing ba, and (iv) exercising ba (Nonaka, Toyama, Konno, 2000). While the relationships between each single ba and conversion mode is not exclusive, each ba offers a context for a specific step in the knowledge-creation process. Originating ba is a place, which primarily offers a context for socialization where individuals interact face-to-face and share their experiences, feelings, emotions and mental models, which are important elements in sharing tacit knowledge (Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000). Originating ba is the place where care, love, trust, and commitment emerge, which forms the basis for knowledge conversion among individuals (Nonaka Konno, 1998). Dialoguing ba is place where collective and face-to-face interactions take place during which individuals mental models and skills are shared, and converted into common terms, and expressed as concepts (Nonaka Konno, 1998). Thus, dialoguing ba primarily offers a context for externalization (Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000). Systemizing ba is a place which mainly offers a context for combination where existing explicit knowledge can be relatively easily transmitted to a large number of people in formal form such as through on-line or network modes of communication, groupware, documentation and databanks, which actually offers a virtual collaborative environment for the creation of systemizing ba (Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000). Exercising ba is a place where individual and virtual interactions takes place which facilitates individuals embodying explicit knowledge that is communicated through virtual media, such as written manuals or simulation programs (Nonaka Konno, 1998). Thus, ex ercising ba primarily offers a context for internalization (Nonaka Konno, 1998; Nonaka, Toyama, Konno, 2000). The SECI process of knowledge creation and conversion and the characteristic of ba can be mapped together (Figure 3). Figure 3: The SECI process of knowledge creation conversion and types of interaction of ba Source: Adapted from Nonaka, Toyama, Konno (2000) Knowledge assets According to Nonaka, Toyama, Konno (2000), knowledge assets, which are the inputs, outputs, and moderating factors of the knowledge-creating process, are extremely critical to the knowledge-creating processes. For example, trust among organizational members is created as an output of the knowledge creating process, and at the same time it moderates how ba functions as a platform for the knowledge-creating process. For proper understanding of how knowledge assets are created, acquired, and exploited, Nonaka, Toyama, Konno (2000) have categorized knowledge assets into four types: (i) experiential knowledge assets, (ii) conceptual knowledge assets, (iii) systematic knowledge assets, and (iv) routine knowledge assets. Experiential knowledge assets consist of the shared tacit knowledge, which is built through shared hands-on experience amongst the members of the organization, and between the members of the organization and other stakeholders (Nonaka, Toyama, Konno, 2000). Often be cause of tacit nature, the experiential knowledge assets are difficult to comprehend, evaluate or trade. In addition, if these assets are difficult to imitate, they are a source of sustainable competitive advantage to a firm (Nonaka, Toyama, Konno, 2000). Conceptual knowledge assets consist of explicit knowledge expressed through images, symbols and language (Magnier-Watanabe, 2009). They are the assets based on the perceptions held by members and other stakeholders of the organization, for e.g., brand equity is a notion perceived by customers, and designs are notions perceived by the members of the organization (Nonaka, Toyama, Konno, 2000). Since conceptual knowledge assets are tangible, they are easier to comprehend as compared to experiential knowledge assets (Nonaka, Toyama, Konno, 2000). Systemic knowledge assets consist of systematized and packaged explicit knowledge, such as explicitly stated technologies, product specifications, manuals, and documented and packaged infor mation about customers and suppliers (Magnier-Watanabe, 2009). Other examples of systemic knowledge are legally protected intellectual property rights such as patents, geographic indications, trademarks, etc. Since these assets are tangible, visible and easily comprehensible, they can be transferred relatively easily (Nonaka, Toyama, Konno, 2000). Routine knowledge assets consist of the tacit knowledge that is routinized and embedded in the actions and practices of the organization, for e.g., know-how, organizational culture, organizational routines for carrying out the day-to-day business of the organization, etc. (Nonaka, Toyama, Konno, 2000). Through continuous exercises, certain patterns of thinking and action are reinforced and shared amongst organizational members (Nonaka, Toyama, Konno, 2000). These four types of knowledge assets form the basis of the knowledge-creating process, and since knowledge assets are dynamic, new knowledge assets can be created from existing knowl edge assets (Nonaka, Toyama, Konno, 2000). The four categories of knowledge assets correspond with the four modes of SECI knowledge creation and conversion processes (Figure 4). Figure 4: SECI knowledge conversion process and knowledge assets Understanding Organizational Culture: Competing Values Framework In the past few decades, the concept of organizational culture has gained wide acceptance as a way to understand human systems and it has been studied from a variety of perspectives ranging from disciplines such as anthropology and sociology, to the applied disciplines of organizational behavior, management science and organizational commitment (Naicker, 2008). The contemporary definition of organizational culture includes what is valued, the dominant leadership style, the language and symbols, the procedures and routines, and the definitions of success that characterizes an organization (Schein, 1992; Cameron Quinn, 1999; as cited in Berrio, 2003). Organizational Culture represents the values, underlying assumptions, expectations, collective memories, and definitions present in an organization (Schein, 1992; Cameron Quinn, 1999; as cited in Berrio, 2003). Several scholars have developed integrative frameworks of organizational culture (Allaire Firsirotu, 1984; Schein, 1985, 1992; Ott, 1989; Martin , 1992; as cited in Zhou-Sivunen, 2005; Hatch, 1993), but there is hardly any consensus with regard to a general theory of organizational culture (Zhou-Sivunen, 2005). I have, however, used the Competing Values Framework (CVF) in this paper to develop an integrative framework as it is one of the most significant and extensively used models for constructing the profile of an organizations culture (Cameron and Quinn, 1999). The Competing Values Framework was initially based on research to identify indicators of organizational effectivenessÃ Ã (Quinn Rohrbaugh, 1983). The basic framework consists of two dimensions: one dimenÃâÃ sion differentiates an emphasis on flexibility, discretion, and dynamism from an emphasis on stability, order, and control; and the other dimension differentiates an internal orientation with a focus on integration, collaboÃâÃ ration, and unity from an external orientation with a focus on differentiation, competition, and rivalry (Cameron Quinn 1999). While one continuum ranges from versatility and pliability on one end to steadiness and durability on the other end, the other continuum ranges from cohesion and consonance on the one end to separation and independence on the other (Cameron, n.a.). Quinn and Rohrbaugh (1983) pointed out that these two sets of competing values are recognized dilemmas in the organizational literature. The two dimensions of the Competing Values Framework form four quadrants, each one representing a distinct set of organiÃâÃ zational and individual factors which guide organizational tasks of environmental management and internal integration (Cameron Quinn 1999). It is noteworthy that these four models represent opposite or competing assumptions (Cameron Quinn 1999). Each dimension highlights a core value that is opposite from the value on the other end of the continuum, i.e., flexibility versus stability, internal focus versus external focus. The dimensions, therefore, produce quadrants that are also contradictory or competing on the diagonal. Quinn and Rohrbaugh (1983) named the four quadrants as four models: human relations model (upper left quadrant), open system model (upper right quadrant), rational goal model (lower right quadrant), and internal process model (lower left quadrant). The four effectiveness criteria models in the Competing Values Framework are also called four organizational culture types (Cameron Quinn 2006; as cited in Yu Wu, 2009). Based on former organizational culture studies in the literature, these four culture types were termed as Clan, Adhocracy, Market, and Hierarchy, respectively (Cameron Quinn 2006; as cited in Yu Wu, 2009). The characteristics and implications of each culture type are summarized as below. The clan culture (upper left quadrant), referred to as the human relation perspective, is characterized by values that highlight internal, organic focus and flexibility (Cameron, Quinn, DeGaf f, Thakor, n.a.). The emphasis is on information sharing, teamwork, collaboration, talent management, empowerment, interpersonal relationships, and participative decision-making (Cameron, n.a.). Members are part of a common social system or clan and are bonded together through the development of a sense of affiliation and belonging (Cameron Quinn, 1999; Cameron, Quinn, DeGaff, Thakor, n.a.). According to Wilkins Ouchi (1983), the growth of clan culture is encouraged by conditions such as a relatively long history and stable membership, absence of institutional alternatives, frequent interactions among members, etc. The adhocracy culture (upper right quadrant), referred to as the open systems perspective, is characterized by values that highlight external, organic focus and flexibility (Cameron, Quinn, DeGaff, Thakor, n.a.). The emphasis is on innovation, creativity, articulating future vision, adaptation, transformation change, growth, entrepreneurship, external support, and resource acquisition (Cameron, n.a.). Members are part of adjusting adhocracies and are bonded together through being motivated, enthused and challenged (Cameron Quinn, 1999; Cameron, Quinn, DeGaff, Thakor, n.a.). The adhocracy culture is like a temporary institution, which is dissolved or which ceases to exist whenever the organizational tasks are ended, and reemerges quickly whenever new tasks arise (Yu Wu, 2009). The adhocracy culture is frequently found in such industries as filming, consulting, space flight, and software development, etc. (Yu Wu, 2009). The market culture (lower right quadrant), denoted as the rational goal perspective, is characterized by values that highlight predictability, external focus, and control (Cameron, Quinn, DeGaff, Thakor, n.a.). The emphasis is on competitiveness, fast response, decisiveness, productivity, goal clarity, driving through barriers, efficiency, and goal achievement (Cameron, n.a.). Members are part of market type organizatio ns and are united together through goal orientation and competition (Cameron Quinn, 1999; Cameron, Quinn, DeGaff, Thakor, n.a.). Instead of focusing on the internal management, the emphasis of market culture is on the businesses/dealings/communications with the environment outside the organization instead of on the internal management (Ouchi, 1979; 1984; Yu Wu, 2009). The organizational goal is to earn profits through market competition (Ouchi, 1979; 1984). The hierarchy culture (lower left quadrant), referred to as the internal process perspective or hierarchy culture, is characterized by values that highlight predictability, control, and internal focus (Cameron, Quinn, DeGaff, Thakor, n.a.). The focus is on routine and predictable work processes, structuring, documentation, assessment and measurement, centralization, controlling processes, stability, efficiency improvement, and continuity (Cameron, n.a.). In organizations typified by hierarchical culture, members are united together through internal controls mechanisms such as rules, guidelines, policies, and procedures (Cameron Quinn, 1999; Cameron, Quinn, DeGaff, Thakor, n.a.). These organizations have clear organizational structure, standardized rules and procedures, strict control, and well defined responsibilities (Weber, 1947; as cited in Yu Wu, 2009). In the real world, organizations are rarely typified by a single culture type; an effective organization may need to perform well on all four sets of criteria, and the organizations having all the four quadrants adequately represented are considered to be balanced and perform well (Yu Wu, 2009). Leaders in such organizations are able to balance inconsistent and competing demands, suggesting that high performance requires concurrent mastery of seemingly contradictory or paradoxical abilities (Yu Wu, 2009). In contrast, cultures considered imbalanced tend to underline values linked with rational goals (market) and internal process (hierarchy ) cultures at the expense of values that characterize other cultures, thereby resulting in comparatively poor organizational performance (Denison Spreitzer, 1991; Yeung, Brockbank, Ulrich, 1991). Though organizations have propensity to develop an overriding organizational culture over time as the organization adapts and responds to the challenges and changes in the environment (Cameron Quinn, 1999), at any given time there are likely to be tradeoffs between the criteria (Yu Wu, 2009). Quinn Cameron (1983) suggested that organizations are often confronted with contradictory functional requirements that are linked with the formation of mutually antagonistic arrangement that function to meet these requirements. Furthering this contention, they also suggested that at certain thresholds, these conflicts might become particularly overstated; often resulting in major reconfigurations of the coalitional structure (Quinn Cameron, 1983). Nevertheless, ignoring the criteria in any of the models would tantamount to have an incomplete view of organizational performance (Quinn and Rohrbaugh, 1983). Though the Competing Values Framework provides a comprehensive model for organizational culture analysis, of late some researchers are of the view that the two dimensions do not encompass all the possible dimensions of organizational culture, for example, one important dimension critical for sharing created and converted knowledge and knowledge management in organizations is an ethical and trusting culture (Brown Woodland, 1999; Rastogi, 2000; Curry Stancich, 2000). Sincerity and honesty and a an extremely high degree of mutual trust culture are basic cultural values for knowledge management in any organization (McDermott ODell, 2001). Since sharing of knowledge is an unnatural act, in an absence of climate of munificence and mutual trust among the members of the organization, knowledge sharing will be diminished (Brown Woodland, 1999; Rastogi 2000; Curry Stancich, 2000). The members of organization avoid sharing of knowledge or sharing of expertise for fear of becoming redundant (McDermott ODell, 2001). Members of an organization, who have the fear of unjust or disrespectful treatment, or who do not have other means of power and authority, often use knowledge as a control and defense mechanism to maintain their relevance and importance in the organization (Brown Woodland, 1999). Thus, a climate of mutual trust, compassion and concern for others in an organization is essential prerequisite for sharing of knowledge (VonKrogh, 1998; Nonaka Konno, 1998; Brown Woodland, 1999; Rastogi, 2000). Though the Competing Values Framework very effectively captures internal versus external focus or flexibility versus order, none of its four quadrants specifically address and capture the important values of ethics and trust. I, therefore, assert that so far as knowledge creation and conversion is concerned through sharing mechanism, regardless of the i nternal/external focus or flexibility/order values, ethical and trusting culture is a predominant concern for all members of an organization. Therefore, in addition to the dimensions of the Competing Values Framework, i.e. internal versus external focus or flexibility versus order, I have used the dimension of ethics and trust in this paper as this study would be inconsistent without the third dimension highlighting the significance of the culture for ethics and trust for knowledge creation and conversion in organizations. The conceptual illustration of the modified Competing Values Framework with the dimension of ethics and trust is illustrated in Figure 5. Figure 5: Modified Competing Values Framework with Ethical Culture dimension Source: Adapted from Quinn Rohrbaugh (1983) and Ruppel Harrington (2001) Integrating Knowledge Creation and Conversion Framework with the Modified Competing Values Framework According to (Davenport Prusak, 1997; as cited in Holowetzki, 2002), environment plays a critical role in the creation, conversion and transfer of knowledge in organisations as it facilitates communication, examination and experimentation. As discussed earlier, the context or ba in which knowledge is shared generated/created, and utilized provides the energy, quality and place to perform the individual conversions and to move along the knowledge spiral (Nonaka, Toyama Konno, 2000). The integration of Nonaka, Toyama Konnos (2000) Knowledge Creation and Conversion Framework with the modified Quinn Rohrbaughs (1983) Competing Values Framework gives an opportunity to expound the effect of organizational culture in the knowledge creation and conversion process. It is important to appreciate that several conceptual similarities underpin the two frameworks: both present analytical models, which endeavor to explain organizational effectiveness. While the Competing Values Framework a ttempts to explain organizational effectiveness in terms of the deep structure of organizational culture (Quinn Rohrbaugh, 1983), the Knowledge Creation and Conversion Framework endeavours to explain that the creation, conversion and transfer of knowledge is fundamental to organizational effectiveness (Nonaka, Toyama Konno, 2000). Additionally, both the frameworks endeavour to capture the dynamic processes linked with internal operations and the organizational interactions with the external environment. Besides, both the frameworks also recognize that for effective organizational performance, members of the organization are required to balance conflicting and competing demands. For instance, the Competing Values Framework proposes that high performance requires concurrent adeptness of seemingly opposing or inconsistent capabilities (Yu Wu, 2009). Similarly, the Knowledge Creation and Conversion Framework suggests that knowledge is created in a spiral that integrates seemingly opp osing concepts such as order and chaos, micro and macro, part and whole, mind and body, tacit and explicit, etc. (Nonaka, Toyama, Konno, 2000). The Competing Values Framework also entails that improvement and development of capabilities to successfully fulfill the competing roles required in all the four quadrants is a must for an effective managerial leadership (Denison Spreitzer, 1991). Similarly, though the Knowledge Creation and Conversion Framework suggests a sub-sequential process of knowledge conversion, all four modes envisioned in the framework are envisaged to function concurrently in a spiral of knowledge conversion (Nonaka, Toyama Konno, 2000; Byosiere Luethge, 2004). The fundamental hypothesis which underlines both the frameworks is the significance of human relations and socialization processes for knowledge sharing. The Competitive Values Framework lays emphasis on the significance of managerial leadership behaviours, which develops sense of affiliation and tru st and belongingness in a common social system or clan culture to facilitate information sharing (Cameron Quinn, 1999). Similarly, socialization processes in the Knowledge Creation and Conversion Framework (Nonaka, Toyama Konno, 2000) are essential for tacit knowledge accumulation. Thus, both frameworks acknowledge that even in organizations with well-developed knowledge management systems, people need collaborations with others to provide answers to problems. The Competitive Values Framework and the Knowledge Creation and Conversion Framework both recognize that such informal interactions among individuals facilitate shared experiences to influence organizational effectiveness and knowledge generation, conversion and transfer. The open systems perspective in the Competing Values Framework, characterized by flexibility, innovation, transformation change, growth and creativity, and based on the improvement of external relationships, is similar to the externalization processes co ncerning the conversion of tacit to explicit knowledge in the Knowledge Creation and Conversion Framework. Takeuchi Nonaka (2004) suggest that externalization occurs when individuals use discursive consciousness and try to rationalize and articulate the world that surrounds them. The tacit knowledge produced by the externalization processes should be concretized and shared with others to create new explicit knowledge (Byosiere Luethge, 2004). In this case also, equivalent concepts are apparent as proposed in the open systems culture and the externalization processes which acknowledge the importance of providing opportunities for innovative manifestation by individuals. The market culture perspective in the Competing Values Framework is based on rational goals which lay emphasis on competitiveness, fast response, decisiveness, productivity, goal clarity, efficiency, and accomplishment. The clarity in the direction enables the individuals in the organization to easily comprehend about how their hard work have as significant impact on the organizational effectiveness and performance. In the same way, in the combination mode of Knowledge Creation and Conversion Framework, rationalism is referred to as an effective method to combine, edit, and break down explicit knowledge to operationalize corporate knowledge (Nonaka Toyama, 2003). Thus, the market culture in the Competing Values Framework and the combination mode in the knowledge creation and conversion framework are conceptually consistent as far as appreciation of the significance of acquiring, operationalizing, synthesizing, and disseminating knowledge through the conversion of explicit to explicit knowledge is concerned. The hierarchy culture perspective in the Competing Values Framework focuses on the internal processes of an organization and lays emphasis on assessment and measurement, documentation, controlling processes, stability, routinization, structuring, centralization, efficiency improvemen t, continuity, and control (Cameron, n.a.). The hierarchy culture perspective lays emphasis on development of work routines and practices because it facilitates individuals to modify knowledge to solve practical problems. The focus on the internal processes and emphasis on routine, rules and regulations are similar to the internalization mode in the Knowledge Creation and Conversion Framework where knowledge is applied in practical situations and becomes the foundation for new routines (Nonaka Toyama, 2003). The process involves the conversion of explicit into implicit knowledge through information management, assessment and measurement, documentation, controlling processes, stability, routinization, structuring, centralization, efficiency improvement, continuity, and control (Nonaka, Toyama Konno, 2000). Therefore, the internal process perspective in the Competing Values Framework and the process of internalization in the Knowledge Creation and Conversion Framework has significan t theoretical similarities, which acknowledges the significant of knowledge homogeny. In addition to mapping various dimensions of the Competing Values Framework with the corresponding modes of the Knowledge Creation and Conversion Framework, the ethical and trusting culture has an overarching concern for all members of the organization. Hence, the ethical culture dimension is common to all, regardless of the internal/external focus or flexibility/order values or the modes of the knowledge creation and conversion process. Unless the environment of mutual trust, compassion and concern for others persists in an organization, creation, conversion and sharing of knowledge will not take place in the organization. These assertions are consistent with findings of the earlier studies (Orlikowski, 1993; Inkpen, 1996; Tsai Ghoshal, 1998). Thus, organizations that encourage compassionate and trusting climate are more likely to create, convert, share and manage knowledge successfully. Figur e 6 presents an illustrative representation of the integration of the two frameworks: The Organizational Knowledge Management Framework. Figure 6: The Organizational Knowledge Management Framework Source: Adapted from Gray, J. H. Densten, I. L. (2005) Theoretical and Managerial Implications Exploring and understanding the relationships between characteristics of organizational culture and knowledge management in an organization has numerous theoretical as well as managerial implications. Integrating the modified Competing Values Framework with the Nonaka and Takeuchis (1995) Knowledge Creation and Conversion Framework may improve our understanding of the social processes, which determine organizational effectiveness. The integration of the two models complement each other: while the Knowledge Creation and Conversion Framework offers a theoretical framework for knowledge management in organization and proposes that the processes take place concurrently within an organization, the modified Competing Values Framework underlines the significance of managing with intricate and competing demands. The integration of both the models may help members of the organizations to understand the intricacy of knowledge management systems where numerous functions are being undertaken a t the same time. Building on the Nonaka and Takeuchis (1995) Knowledge Creation and Conversion Framework and supplementing it with the modified Competing Values Framework having a fifth ethical value dimension could improve our comprehension and appreciation of managerial leadership behaviour that enables knowledge management. Denison, Hooijberg, Quinn (1995) suggest that less effective managers, who focus more on roles linked with rational goals and internal process cultures and overlook roles linked with human relations, may cause adverse consequences for knowledge management resulting in poor organizational performance. (Nonaka Takeuchi (1995) also contend that less effective managers would be constrained to use a narrow range of knowledge creation and transfer modes and that their lack of focus on roles related with human relations and open systems may be linked with poor socialization and codification or externalization of knowledge as conceptualized by Knowledge Creation and Conversion Framework which would ultimately result into poor conversion of tacit knowledge to explicit knowledge. Buttressing this assertion further (Boal Whitehead, 1992; as cited in Tuttle, 1997) contend that managers who perform only a few roles would likely to fail, except in extremely stable and secured environment. Thus, ineffective managerial leadership and the related restraining knowledge management processes are the reasons for which some organizations may find difficult and struggle to survive in unstable and turbulent environments. Expounding the managerial leadership roles which helps in the growth of a knowledge-generating/creating and sharing culture could have significant connotations for organizational change and development. Leaders face enormous challenges as the harbingers of change in bringing about organizational development. This process has been portrayed as endeavouring to move deep-rooted bureaucracies and control systems in the direction of human r elations and task achievement in order to adjust to the environment (Denison Spreitzer 1991). The development of the integrative framework by combining the modified Competing Values Framework and the Knowledge Creation and Conversion framework would help in identification of suitable managerial leadership roles. The integrative framework underpins the criticality of the ethical values prevalent in the organization, and suggests that the organizational leaders should strive to develop an environment of openness, honesty, mutual trust, compassion and fairness in the organization to facilitate sharing of knowledge among the members of the organization. The proposed Organizational Knowledge Management Framework should be used as a foundation for managerial leadership development, which would help leaders to intentionally and purposefully select behaviours to optimize knowledge creation, conversion and transfer, which underline the most critical aspect for successful organizational c hange. Additionally, the proposed framework could aid in the analysis of insufficient knowledge management processes, for e.g., where a culture of knowledge hoardingÃ Ã creates hindrances in knowledge sharing (Hurley Green, 2005; Ardichvili, et. al., 2006). Such a situation is not uncommon in an extremely competitive organization, which aggressively focus on a market culture (Hurley Green, 2005). Conclusion The Competing Values Framework originally emerged from empirical research to explain the intricate and paradoxical nature of organizational effectiveness. The Nonaka and Takeuchis Knowledge Creation and Conversion Framework endeavoured to elucidate knowledge creation and conversion in organizations. Integrating the two frameworks the Competing Values Framework with an additional dimension of ethical culture and the Knowledge Creation and Conversion Framework can provide the means to comprehend how organizational culture impels or improves the expansion of organizational knowledge. The limitation of this paper is that while developing this integrative framework, it has ignored the shortcomings in Nonaka and Takeuchis Knowledge Creation and Conversion Framework, which recognizes that the capacity for corporate action depends on ideas and beliefs as much as on scientific knowledge, but its subjectivism tends towards a dangerous relativism because it makes justification a matter o f managerial authority, and neglects to consider how scientific criteria relate to corporate knowledge (Essers Schreinemakers, 1997). Besides, Knowledge Creation and Conversion Framework also fails to recognize that the commitment of different groups to their ideas and the resulting need to resolve this conflict by managerial authority cannot augur good for ingenuity and innovation (Essers Schreinemakers, 1997). Moreover, the Knowledge Creation and Conversion Framework also neither explains how new ideas are produced nor explains how depth of understanding (necessary for expertise) develops (Bereiter, 2002; as cited in Gourlay, 2006). In view of the above limitations, further theoretical conceptualization is required not only to elucidate the processes by which tacit knowledge becomes explicit but also to provide explanation for the shortcomings in the Knowledge Creation and Conversion Framework. More importantly, such conceptualization could provide the foundation for the iden tification of the conceptual, interpersonal, and technical skills that managers and leaders require facilitating knowledge management. Nevertheless, the proposed integrative framework provides an elegant conceptual model with an integrated set of techniques and tools to understand the linkages between organizational culture and knowledge management in an organization. I, however, do not claim universal applicability or generalizability of the proposed integrative framework; it only suggests a possible diagnostic or normative prescription. The proposed integrative framework may be used to do conduct further empirical studies whose results will provide clearer evidence with regard to the nature of normative statement implied by the proposed integrative framework. In conclusion, by suggesting the integration of organizational culture and knowledge management theory, I expect to develop organizational interventions facilitating improved knowledge management, to promote development of theory, and to encourage further empirical research into these very important facets of organizational behaviour.
Wednesday, May 13, 2020
The Powerful Adventures of Huckleberry Finn When Samuel Langhorne Clemens first published his story, Adventures of Huckleberry Finn, he was criticized severely. On top of that, the book was banned from libraries and schools alike. The book was thought to be a bad influence on children because it represents the breaking of the law as moral, it recommends disobedience and defiance on the part of young people, it portrays churchgoers as hypocritical, and the most admirable characters in the book habitually lie and steal and loaf (Johnson XII). In this day and time, though, the book has become required reading for many schools, and is found in almost every library in the country. Why has there been a change in attitudeÃ¢â¬ ¦show more contentÃ¢â¬ ¦The cruel thing about it is that slaves were people and they were sold like cattle. This peculiar notion that one person can actually own another body and soul is supported not only by the law and government, but by the church and religion as well (Johnson 110). I do not be lieve it is a coincidence that Jim belongs to and is being sold down the river by the person in the novel who makes the greatest show of her religion, Miss Watson (Poirier 91). A reflection of the religious notions of the slaveholding society, which believes the Bible approves of slavery, is shown when Huck thinks he hears the voice of God-the plain hand of Providence-telling him he should return Miss Watsons property after they run away (Twain 208). In Chapter 12 of Huckleberry Finn, Huck and Jim come across a rapidly sinking ship occupied only by three dangerous thieves who are secretly plotting each others demise (Crowley 76). The ship, the Walter Scott, which eventually disappears beneath the waves, symbolizes the Old South in its dying years as being dominated by thugs, thieves, and killers. The noble men involved with a noble cause had died out and were no longer present (Johnson 177-178). This is the reason that one cannot find a noble Southern gentleman in the story. Twains satiric scorn of this failing society is directed particularly at what was called the code of honor, a pattern of conduct that incorporated both the love ofShow MoreRelatedThe Adventures Of Huckleberry Finn By Mark Twain Essay1055 Words Ã |Ã 5 PagesJhonatan Zambrano Mrs. Patmor AP Lit-Period 5 28 September 2016 Adventures of Huckleberry Finn 1835 Mark Twain embodies realism in almost every aspect of his writing not excluding The Adventures of Huckleberry Finn, which in he portrays such a lifelike setting that it almost gives you this sense of reality through the point of view of a young man that has an urge for freedom yet struggles to conform to society s norms due to his adolescence. Twain s ability to unmask the true identities of theRead MoreHuckleberry Finn Persuasive Essay1571 Words Ã |Ã 7 Pageslarge matter- Ã¢â¬Ëtis the difference between the lightning bug and lightning.Ã¢â¬ (Mark Twain). Mark Twain, the author of an extraordinary yet controversial novel; The Adventures of Huckleberry Finn had a great way of capturing moments in time and bringing them to life through the use of meaningful and direct diction. The Adventures of Huckleberry Finn has been a vexed novel for it s a use of the Ã¢â¬Å"N-wordÃ¢â¬ . However, many scholars and associations have devised a Ã¢â¬Å"solutionÃ¢â¬ for this problem such as, completelyRead More The Importance of Friendship in Mark Twains The Adventures of Huckleberry Finn829 Words Ã |Ã 4 PagesThe Importance of Friendship in Mark Twains The Adventures of Huckleberry Finn Aristotle was once asked what he thought friendship was. His response was, One soul inhabiting two bodies. This was the kind of relationship that Huckleberry Finn and Jim shared in Mark Twains epic novel, The Adventures of Huckleberry Finn. This novel is a tool that Mark Twain, whose real name was Samuel Langhorne Clemmons, was using to impress the great benefits of friendship upon society. However, others feelRead MoreRacism of Yesterday and Today Essay1655 Words Ã |Ã 7 PagesThe Adventures of Huckleberry Finn was written by Mark Twain in the middle of the nineteenth century. Much of the inspiration for the book came from Mark TwainÃ¢â¬â¢s own encounters. TwainÃ¢â¬â¢s experiences as a steamboat pilot from 1835 to 1845 provided a great deal of the historical context for his work. The novel revolves around a southern boy, Huck, and a slave named Jim who both reject society by running away in hopes of finding freedom. The Adventures of Huckleberry Finn highlights and portrays t heRead MoreAnalysis of Literary Techniques For The Adventures Of Huckleberry Finn by Mark Twain982 Words Ã |Ã 4 Pages In The Adventures Of Huckleberry Finn, Twain paints a colorful portrait of his life growing up in the south. Originally intended to be just a Ã¢â¬Å"funÃ¢â¬ narrative about his childhood, TwainÃ¢â¬â¢s novel evolved into something much greater by criticising slavery and advocating for the rights of african-americans. The themes that the book represents were revolutionary in their time, something only accomplished through the narratives of Twain. The Adventures of Huckleberry Finn, is aptly named due to itÃ¢â¬â¢s perspectivesRead MoreShould the Adventures of Huckleberry Finn Be Required in Shcool?983 Words Ã |Ã 4 PagesShould The Adventures of Huckleberry Finn be required in school? Mark TwainÃ¢â¬â¢s Ã¢â¬Å"The Adventures of Huckleberry FinnÃ¢â¬ is said to be one of the greatest American novels to ever be written and is what all other pieces of American literature are based off of. The novel has been debated for over an entire century and will continue to be debated for much longer. Never the less, Huckleberry Finn teaches young students and adults the important life lessons. Ã¢â¬ The Adventures of Huckleberry FinnÃ¢â¬ by Mark TwainRead MoreThe Use of the Word - Nigger - in Twains Novel The Adventures of Huckleberry Finn1238 Words Ã |Ã 5 Pagesfrequently but has now developed into one of the most derogatory and unfriendly things a person can say? Since 1884, when the book was first published, there has been much controversy regarding the use of the word Ã¢â¬Å"niggerÃ¢â¬ in the novel The Adventures of Huckleberry Finn, by Mark Twain. Many people all over the world, predominantly the African-American population, feel that the word demoralizes the Blacks, and feel that the novel should be strongly censored from society. Some say that the constant useRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1346 Words Ã |Ã 6 Pages An in depth look at Ã¢â¬Å"The Adventures of Huckleberry FinnÃ¢â¬ Racism was an ever present evil that was prevelant during the 1830s and 1840s that lead to a multitude of wrongdoings against blacks. The Adventures of Huckleberry Finn is about a young child name Huck and how he matures in a society teeming with racism. While on his adventure, he must learn to make tough, adult-like decisions. He travels down the Mississippi River with a runaway slave who later becomes one his his greatest friends. In MarkRead MoreAnalysis Of The Book The Adventures Of Huckleberry Finn 1648 Words Ã |Ã 7 PagesLola Parsapour Mr. Ruddy AP Lang 3 September 2015 The Value in the Adventures of Huckleberry Finn The Adventures of Huckleberry Finn, written by Mark Twain, developed into one of the most controversial books in America. The basis of this controversy can be summarized briefly for it was the use of racial slur and issues of slavery that caused tension in our society. The Adventures of Huckleberry Finn was banned for the first time one month after its publication. Ã¢â¬Å"Ã¢â¬Å"Not suitable for trashÃ¢â¬ was theRead MoreAnalysis Of Mark Twain s Works Made A Huge Impact On Readers And Literary Critics1288 Words Ã |Ã 6 Pageshuge impact on American Ã¢â¬Å"freedomÃ¢â¬ on his writing, which is Huckleberry Finn. In a 2001 periodical with Sanford Pinsker about a review of Huckleberry Finn, Sanford Pinsker makes an analysis and interpretation of Mark TwainÃ¢â¬â¢s theme of Huckleberry Finn to builds discussion of the problem of freedom in America. In Twain s case, what he did that so upset the moral arbiters of Concord is boldly announced in the novel: Ã¢â¬Å"That book [The Ad ventures of Tom Sawyer], Huck tells us by way of introduction] was
Wednesday, May 6, 2020
Journey of Life in The Odyssey In the ultimate story of love and hate one man was torn between two lives as he watched the shores of the mighty world get swept away in a swift act of fate. With only destiny on his side to return home, he pushed on and tried to leave the life he had lived for so long. In order to achieve his destiny Odysseus had to first achieve loyalty, overcome temptation, and take revenge upon his enemies. Plagued by constant attacks of self-doubt and reinforced by guile, Odysseus conquered what became to be known as a one of the greatest odysseyÃ¢â¬â¢s ever written. Love is a strong bond that is shared between two people. In The Odyssey not even time and war could separate the bond that Odysseus and PenelopeÃ¢â¬ ¦show more contentÃ¢â¬ ¦This is not a only a show of love on Odysseus part for his wife but is also a show of love on Calypsos part because she loves him so much that she is willing to do what is in the best interest of Odysseys, even if it means letting him go. Staying loyal to Odysseus was one of the hardest things Penelope ever did, but it was because of the love that they shared that she did. When suitors came to offer her gifts in return for marriage, she refused with a single shred of hope that her husband would return home and once again regain his estate and life. The reward for her loyalty is finally paid when she finally reunites with her long-lost husband. The happiness and love that is shared is shown in this quotation, So she spoke, and stirred still more his yearning after tears; and he began to weep, holding his loved and faithful wife. As when the welcome land appears to swimmers, whose sturdy ship Poseidon wrecked confounded by the winds and solid waters; a few escape the foaming sea and swim ashore; thick salt crusts their flesh; they climb the welcomed land, and are escaped from danger; so welcome to her grazing eyes appeared her husband. From round his neck she never let her white arm go(226). It takes a great man to have a wife that will wait so long for him. Not only does this quotation show that Odysseus has achieved loyalty but it also
Firms generally have many investment opportunities available.Ã Some of these investment opportunities are valuable and others are not. The essence of successful financial management is identifying which opportunities will increase shareholder wealth. We will write a custom essay sample on Net present value or any similar topic only for you Order Now There are three basic and related concepts that form the very foundation of modern day finance: present value, net present value (NPV) and opportunity cost. Present value gives the value of cash flows generated by an investment and NPV gives the effective net benefit from an investment after subtracting its costs. Opportunity cost represents the rate of return on investments of comparable risk. Application of these concepts enables us to value different kinds of assets, especially those which are not commonly traded in well-functioning markets. NPV of an asset or investment is the present value of its cash flows less the cost of acquiring the asset. Smart investors will only acquire assets that have positive NPVs and will attempt to maximize the NPV of their investments. The rate of return received from an investment is the profit divided by the cost of the investment. Positive NPV investments will have rates of return higher than the opportunity cost. This gives an alternate investment decision rule. Good investments are those that have rates of return higher than the opportunity cost. This opportunity cost can be inferred from the capital market and is based on its risk characteristics of the investment. To assess why Net Present Value leads to better investment decisions than other criteria, let us start with a review of the NPV approach to investment decision making and then present four other widely used measures. These are: the payback period, the book rate of return, the internal rate of return (IRR) and profitability index. The measures are inferior to the NPV and should not, with the qualified exception of the IRR, normally be relied upon to provide sound investment decisions. These measures are commonly used in practice. The NPV represents the value added to the business by the project or the investment. It represents the increase in the market value of the stockholdersÃ¢â¬â¢ wealth. Thus, accepting a project with a positive NPV will make the stockholders better off by the amount of its NPV. The NPV is the theoretically correct method to use in most situations. Other measures are inferior because they often give decisions different from those given by following the NPV rule. They will not serve the best interests of the stockholders (Brealey, 2002). To calculate NPV we should firstly forecast the incremental cash flows generated by the project and determine the appropriate discount rate, which should be the opportunity cost of capital. Then calculate the sum of the present values (PV) of all the cash flows generated by the investment. NPV = PV of cash inflows Ã¢â¬â initial investment. To make decision on investment, we should accept projects with NPV greater than zero and for mutually exclusive projects, accept the project with the highest NPV, if the NPV is positive. The NPV represents the value added to the stockholdersÃ¢â¬â¢ wealth by the project. The discount rate should reflect the opportunity cost of capital or what the stockholders can expect to earn on other investments of equivalent risk (Brealey, 2002). The NPV approach correctly accounts for the time value of money and adjusts for the projectÃ¢â¬â¢s risk by using the opportunity cost of capital as the discount rate. Thus, it clearly measures the increase in market value or wealth created by the project. The NPV of a project is not affected by Ã¢â¬Å"packagingÃ¢â¬ it with another project. In other words, NPV(A+B) = NPV(A) + NPV(B). The NPV is the only measure that provides the theoretically correct measure of a projectÃ¢â¬â¢s value (Ross, 2002). Payback Period. The payback period is simply the time taken by the project to return your initial investment. The measure is very popular and is widely used; it is also a flawed and unreliable measure. It is simple to calculate and easy to comprehend. However, payback period has very limited economic meaning because it ignores the time value of money and the cash flows after the payback period. It can be inconsistent and the ranking of projects may be changed by packaging with other projects. Discounted payback is a modified version of the payback measure and uses the discounted cash flows to compute payback. This is an improvement over the traditional payback in that the time value of money is recognized. A project, which has a measurable discounted payback, will have a positive NPV. However, the other disadvantages of payback still apply. It is also not simple anymore (Investment Criteria). Book Rate of Return (BRR). This is a rate of return measure based on accounting earnings and is defined as the ratio of book income to book assets. Accounting earnings are reported by firms to the stockholders and the book return measure fits in with the reported earnings and the accounting procedures used by firms. However, the measure suffers from the serious drawback that it does not measure the cash flows or economic profitability of the project. It does not consider the time value of money and gives too much weight to distant earnings. The measure depends on the choice of depreciation method and on other accounting conventions. BRR can give inconsistent ranking of projects and rankings may be altered by packaging. There is very little relationship between the book return and the IRR. (Brealey, 2002). Internal Rate of Return (IRR). IRR is defined as the discount rate at which the NPV equals zero. Used properly, the IRR will give the same result as the NPV for independent projects and for projects with normal cash flows. As long as the cost of capital is less than the IRR, the NPV for the project will be positive. IRR can rank projects incorrectly, and the rankings may be changed by the packaging of the projects. For mutually exclusive projects, IRR can give incorrect decisions and should not be used to rank projects. If one must use IRR for mutually exclusive projects, it should be done by calculating the IRR on the differences between their cash flows (Ross, 2002). Profitability Index. Occasionally, companies face resource constraint or capital rationing. The amount available for investment is limited so that all positive NPV projects cannot be accepted. In such cases, stockholder wealth is maximized by taking up projects with the highest NPV per dollar of initial investment. This approach is facilitated by the profitability index (PI) measure. Profitability index is defined as: NPV/Investment. The decision rule for profitability index is to accept all projects with a PI greater than zero. This rule is equivalent to the NPV rule. The modified rule applied in the case of capital rationing is to accept projects with the highest profitability index first, followed by the one with next highest, and so on till the investment dollars are exhausted. This rule will maximize the NPV and stockholder wealth. If the resource constraint is on some other resources, the profitability index needs to be modified to measure the NPV per unit of the resource that is rationed. The profitability index cannot cope with mutually exclusive projects or where one project is contingent on another (Brealey, 2002). Thus, comparing NVP with other criteria we can assert that NPV is superior to other criteria. First, it is the only measure, which considers the time value of money, properly adjusting for the opportunity cost of capital. Second, it gives consistent measures of the projectÃ¢â¬â¢s value (i.e. not affected by packaging with other projects). Third, it clearly measures the value added to the stockholdersÃ¢â¬â¢ wealth. The only exception to the superiority of NPV is when the firm is constrained by capital rationing. This implies that the firm cannot finance all positive NPV projects and should therefore choose projects that give the highest NPV for each dollar of investment. The profitability index that is defined as the ratio of NPV to the investment amount is used to achieve this selection. However, the other criteria for the evaluation of projects are found to be popular in practice. If using them, we should make sure we use them in the best possible way and understand the limitations of them. For example, we should always compare mutually exclusive projects on the basis of the difference between their cash flows, because that it is the cash flows that determine the value of a project. Inadequate forecast of the cash flows can be far more disastrous than using the wrong appraisal technique. Cash flow forecasts are difficult to make and can be expensive. It does not make sense to waste the forecasts by using an inferior method of evaluation. References: Brealey, Richard A. Myers, Stewart C. (2002). Principles of Corporate Finance, 7th ed. Chapters 5 Ã¢â¬â 6. Irwin/McGraw-Hill Book Co. Investment Criteria, Chapter 9. Introduction to Finance. COMM 203 Homepage. College of Commerce, University of Saskatchewan, 2004 from http://www.commerce.usask.ca/faculty/loescher/Commerce203/CapitalBudgeting/Investment_Criteria.ppt Ross, S., Westerfield, R., Jordan, B. Roberts, G. (2002). Fundamentals of Corporate Finance, 4th Edition. McGraw-Hill Ryerson Limited. How to cite Net present value, Essay examples
Heaven On Earth Essay, Research Paper Jonathan Fraiman English 112 2/21/00 The Interview Essay To give you a broader image of who I am, I want to state you about some things I have been privileged plenty to make that many merely dream about. My Dad has instructed me in winging a individual engine aeroplane as we have flown our household of six round-trip from Bedford, Massachusetts to Homer, Alaska seven times, every bit good as to other parts of the state. During these transcontinental trips, numbering over 500 hours, I have viewed the universe from on high and traveled to some really distant topographic points accessible merely by a little aeroplane. In two consecutive old ages, my brothers and I have hiked and canoed in the Gates of the Arctic National Park located in the Brooks Range of northern Alaska. We have followed some of the paths of Bob Marshall, Ernie Johnson, and John Muir, legendary innovators in this portion of the universe. We will write a custom essay sample on Heaven On Earth Essay Research Paper Jonathan or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the procedure I have explored some of this privy wilderness which is so huge that there are no people for 100s of stat mis. It was in such a privy wilderness that my Dad, two brothers, and I built an 8? by 10? cabin utilizing merely a chain saw, some manus tools, and the trees on a little in private owned batch surrounded by the wilderness of the Kenai Fjords National Park. It is located in South Central Alaska and accessible merely by boat or pontoon plane. We still see this cabin, sharing the land with the resident black and brown bears, Michiganders, bird of Joves, seals, seahorses, and salmon. In add-on to this domestic geographic expedition, our household has traveled together to Holland, France, Israel, Canada, Mexico and Costa Rica. Naturally, this international travel has given me penetrations into the civilizations, linguistic communications, traditions and political relations of parts of Europe, the Middle East, and Latin America. We? ve been on archaeological digs in Israel, toured the Golan Heights and the old metropolis of Jerusalem, explored the rain woods and seashores of Costa Rica and visited fourteenth century palaces in Holland. And ever, we? rhenium with the people, the linguistic communication, the sounds, sights and odors of a foreign land that so excite all of your senses. My parents have wanted to raise us in a all-around manner, at place in the metropolis, suburbs, state, and entire wilderness in this state and abroad. A instance in point is that we have moved our full family from suburban Massachusetts to wild Alaska. Our household ties have been the life raft in this sea of travel and alterations. My male parent has kept us busy, shuning telecasting ( Television is merely accessible here by satellite dish, and we don? Ts have one ) and disputing us to encompass the natural beauty in this universe. He has consciously used these experiences to model his three boies to be strong, resourceful, adaptable, and clever. I would wish to believe he has succeeded. In existent life, I run my ain computing machine concern locally, selling and serving computing machines and computing machine constituents, doing web pages, and usage edifice concern databases. Since I started this concern last twelvemonth, it has grown to the point where I have to turn down clients, lest my concern interfere with my school assignment. I have used a big sum of my net incomes from this concern to put up my ain computing machine system. I have bought a new scanner, optical maser pressman, jaz? thrust, and UPS, and have upgraded my system to the current film editing border degree. I have besides bought a 1989 Subaru to acquire me around, and a stereo to acquire music around me. The balance of my net incomes I am salvaging for college.
Monday, May 4, 2020
The play Hedda Gabler was written by Henrik Ibsen. Henrik Ibsen was a major Norwegian play righter of the late 19th century and he also considered to be one of fatherÃ¢â¬â¢s of modern drama. After Shakespeare, Henrik Ibsen is the most widely produced drama in history. He wrote in a new realist style and he was a bit scandalous because of raising Victorian values in every play he wrote. The play Hedda Gabler was performed by college students of STSI Bandung at Sunan Ambu Building, STSI Bandung, 20 Oktober 2012. The duration of play is about 90 minutes. The scene of the stage was the house in Victorian style. The costumes were worn by the performers also represent the era of Victorian. The story tells about the marriage life and reflection of social values. Hedda Gabler is a daughter of Jendral Gabler who had passed away without leaving inheritance to his daughter. Hedda Gabler who has reached the age of marriage decides to marry George Tesman whom she doesnÃ¢â¬â¢t really love. We will write a custom essay sample on Drama Response of Hedda Gabler or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the beginning of the story, Hedda and Tesman return from their honeymoon to their new house. Tesman who studies the art history spends his life to read and learn all over time. According to that reason, Hedda is showing her boredom with Tesman in the time of their marriage, even though she knows that she is pregnant after they came back from honeymoon. However, she assumes her marriage with Tesman who will become the honorable professor could return her prosperity in society in which she used when her father still lived. In the beginning of the story there is Julie, TesmanÃ¢â¬â¢s Aunt who welcomes them home after they come back from honeymoon. However, since HeddaÃ¢â¬â¢s behavior is not friendly to Julie, in short Julie leaves them quickly. No longer after their departure, they get the information from Mrs. Elvested (Thea) that Ejlert Lovborg returns to society. Ejlert Lovborg is well known as a drunkard though he is also talented. He is one of man who admires Hedda