Critical Evaluation Of Contemporary Issues In Hospitality Management Tourism Essay

Critical Evaluation Of Contemporary Issues In Hospitality c be Tourism EssayHospitality is a dynamic industriousness that is ever so changing as a precede of several external factors. The patience has become to a greater extent hawkish than ever before. approximately companies often decease while others atomic be 18 very successful. Tanke (2001) urges that successful firms acquire, manage, and develop alternatives that go away competitive benefit. They similarly get over and build up relationships with a large make verboten of organizations, various stakeholders, and groups. Globalization has intensified the competitiveness and for firms to re important competitive they necessitate to expand their relationship networks and collaborate with each other to remain competitive. many a nonher(prenominal) firms ar starting to monitor and manage key indicators to cut on cost and save money.According to Ottenbacher and G nonh (2005) There atomic number 18 several coetan eous issues in the cordial reception industry which complicate, forgiving choice heed, strategical prudence, theatrical role of ICT and gastronomy and tourism. Much of changes in issues make been brought rough by globalization. For example in the case of piece imaging, globalization has brought diversity in the charitable resources. randomness conversation engineering has advanced much in organic evolution. The racy cast of people travelling to foreign lands has brought changes in the gastronomy and tourism. Hospitality businesses essentialiness thence manage all these issues to succeed in their operations.Tanke, (2001) argues that cordial reception businesses bequeath fatality to focus more than on brand, human beings resource, emerging markets and information communication technology. These ar the primary determinants of the winners and losers in years to come. Strategic counselling is thitherfore important in determining the success of these firms. Strategic management has been hailed to provide higher acquits of satisfaction than other management tools.Literature ReviewHRM Issues In the Hotel Industry GloballyThe importance of valu sufficient human resource management to business success in any use of human resources terminate give an organization a competitive advantage. The importance of human resources is peculiarly signifi push asidet in cordial reception industry. Dun depose (2005) suggested that at that place be several main areas of challenge and worry in the global hospitality industry, relating to profession issues, gross takes and environmental issues.Employee turnoverAccording to Hinkin and Tracey (2000) employee turnover has become one of the challenges in the hospitality industry. The industry globally suffers from high level of staff turnover, which solution to intangible costs and high direct exp repealiture. Riegel (2002) argues that turnover is a return of several factors such as job dissatisfacti on, unfortunate working environment, poor supervision and lack of commitment that influence employee attitude and behavior.Iverson and Deery (1997) carried tabu a research on the labor requirements of the hospitality industry and established that the high turnover rate is one the most difficult issues in human resource management in that context. They reported that the turnover problem in large hotels was much worse than in small hotels. Many hotels are planning to increase the number of people employed simply to intersect the turnover situation.Hoque (1999) contends that portion quality focuses on the nature of the interaction in the midst of the individual employee and the node at the point of swear expose, in terms of subtlety and overall professionalism. Hoque as well argues that service quality is the main factor in creating competitive advantage in the hotel industry, and that any hotel that does not make an try to modify continually its service quality will lose g round. belligerent advantage generated from internal sources includes such characteristics as value rareness, exceptionality, and non-substitutability (Iverson, Deery 1997), and the employee at the end of the service delivery trunk may well be the entirely differentiated and unique asset of a hotel organization that cannot be soft copied.Hinkin and Tracey (2000) open in any case recommended that there are in fact nevertheless two ways to compete in and differentiate amongst hospitality services. One is by competing on price and minimizing costs, which locks a hotel into a ill-tempered market segment. The other is to compete by providing exceptional service. They note that node care is not a new concept in the service industry, but it is still a mingled thing to control and sustain.In the face of the high level of turnover in the hotel industry, it is assertable that more or less customers are served by employees who are fairly untrained, less committed, and less able-b odied in their social skills. But dealing with this requires the use of quite nonionised approaches to service quality management. Huang (2001) suggested that if an organizations first and foremost objective is to provide a service, a holistic approach to service quality management must be real and employed, insightful at all levels of the organization from the main(prenominal) executive to the entry level employees.Training and phylogenyGaravan (1997) argues that training and development of employees is linked to service quality be causality its activities can be used to arm attitudes and behaviors that scarper to topicive service. Several detectives soak up suggested that developing a service culture during training and development and knowledge building are upright practices. Employees training and development of skills help firms to enhance quality of service, increase productivity, and smother costs. Elsewhere, Davies, Taylor and Savery (2001) investigated certain h uman resource management attends in improving employees relations in western Australian accommodation industry and found out that sustained training and development led to an important improvement in productivity, with a reduced turnover of employees. Huang (2001) argued that in Taiwan training and development was the main significant driver for economic development.Staff recruitment and excerptionAlleyne, Doherty and Greenidge (2006) contend the due to the nature of the hospitality industry labor pick up is much unpredictable and playing area to seasonal variation. As a result the hospitality industry has had negative image among prospective employees. Elsewhere Debrah and Budhwar (2004) argue that changes in the macro environment for example ageing workforce, lower lineage rates have also contributed to employees shortage heightening the imbalance between the employee demand and supply. This has made employee resourcing a great problem and highlights that effective management of demand and supply of best employee is a great problem in the hospitality industry (Tanke, 2001).Global competitiveness in the hospitality industrySuccessful hospitality firms neverthelesstually find that their domestic markets are all saturated or that foreign markets offer opportunities for growth and profits which are not available domestically. Several forces are leading businesses into the global arena. These include trade barriers falling especially in Europe and North America, impertinently industrialized countries, shift towards market economies, availability of financial capital standards are worthy uniform globally and advancement in information technology (Tanke, 2001).Organizations that want to remain competitive must therefore acquire cite of the art resources at a lower price, for example they may exact expanding to emerging nations where labor is cheap.The strategic management repercussions of increasing globalization are extreme. Managers cannot afford to ov erlook opportunities in foreign markets. Nonetheless, business modes and customs diversify from country to country. These disparities make stakeholder analysis and management even more important. epitome of wide environmental forces such as society, technology, and political influences ought to also be extended to the different regions in which an organization carries out business. People also vary greatly from region to region. The challenge of an ever increasing competitive global marketplace can be tackled through a well-devised strategic management process. Nevertheless, tactical planning must not always lead to the kinds of changes that are essential to stay aggressive over the long term. applied scienceAlthough there has been an increasing awareness of the value of state of the art structured administrations many hospitality firms still do not take advantage of them. There inadequate understanding of how much competence could be alter via use of these systems. Tanke, (20 01) argues that hospitality administration systems have over the years developed into complex, well incorporated tools which help firms to make more revenue, attract more guests, and improve effectiveness.Nevertheless, many business still hang on systems that have are much ahead of their competitive useful life. This limits them from having the benefits that are brought about by these systems. Though several firms are scared of upgrading their systems because they fear that their employees will not be in a position to handle these systems, there is need for training the employees how to use these systems (Tanke, 2001).Alleyne, Doherty and Greenidge (2006) contend that as systems become more inclusive their support and security management become necessary and complex. save it must be noted that it is almost im contingent for organizations to have their birth technical support staff skilled in all the system they use. Guest report has become an aim for thieves and attacks on com se t aparters are becoming more complex. These trends call for a shift towards more professional system management this may be a corporate team or an agreement party. Elsewhere Debrah and Budhwar (2004) argue that innermost revenue management teams, for example, can provide specialist help to numerous properties in a regionally unified way. Centrally-hosted systems permit highly-skilled technicians to offer a far more protect and managed systems environment than would be accessible to an individual firm. This trend is expected to affirm as understanding grows of the value of maintaining systems operating at peak proficiency, and of the possible harm from security violations.MethodologyAccording to Hoque, (1999) two essential questions were put to a sample of hotels What are the key human resource management issues and concerns in the hospitality industry of Taiwan? And what are the main human resource management roles and practices used to engage with them? Rather than default to a s ingle issue approach to the interviewees, the interviewer tried to examine human resource management in the hospitality industry in an entirely open-ended way. The respondents were free to raise any human resource management issues, concerns, functions and practices that they survey to be significant. This method allowed the researcher to notice what came up in methodicalness of priority for the respondents, or what failed to come up at all (Hoque, 1999)The method used was qualitative and the main technique was in-depth interviews. Leading questions were avoided by the researcher on order to gain a deeper understanding of well-nigh phenomena as experienced by a group of people (Creswell, 2003). It was not possible to examine all the hotels in Taiwan because of financial and time constraints. The researcher selected the twine hotels which he expected to have formalized human resource management practices than smaller hotels. The researcher further segmented the hotels according t o number of rooms, geographic location, and brand.The researcher interviewed senior managers but in some cases some hotels that were approached refused to be interviewed arguing that they would consider questionnaires because of their tight schedules. Although there are a few(prenominal) definitive rules for sample size in qualitative enquiry (Patton, 2002), it has been suggested that 12-20 examples are needed when trying to obtain the broadest range of information and perspectives on the subject of study (Kuzel, 1992). At the time this research was conducted, there were 46 chain hotel properties in Taiwan and the sample selected totaled 14 hotels, which represents 30.43%of the total race of such hotels.AnalysisThe findings were presented together because some issues were common to all the respondents and had cause and effect relationship. Fourteen participating hotels identified several main issues to wit shortage of employees 100% of the respondents, 64% of the respondents talk ed of challenges in approach to training and development. bit 50% of the respondents emphasized on the high level of employee turnover.Shortage of employeesParticipants pointed out that the overall education level in Taiwan has risen in the last decade. This has caused a problem to the hospitality firms in recruiting entry level employees. The increased growth of the hospitality industry has made the shortage even worse. Respondents however, believe that at middle level the case is different there is o shortage at this level. However those who hold these positions are not qualified but only fill these positions because a vacancy has to be filled.Shortcoming in Approaches to training and developmentMost of the employees have no hospitality background this calls for a sophisticated training and development approaches. Nevertheless, some hoteliers believe that that is not a major problem because they believe that skills can be gained on job training.High level of employee turnoverPart icipants pointed out that this was unavoidable because of the nature of the hospitality industry. In certain cases the turnover top executive be positive to the industry as it may remove de-motivated staff. Respondents also pointed out that older employees led to lack of innovation, infusion of fresh ideas and globe in the firm.DiscussionFrom the in depth interviews it can be argued that challenges in training and development, inadequate employees and problems in internship employment can be attributed to customer service quality discussed in the literature. Kuzel, (1992) argues that employing interns is a solution to the shortages in the hospitality sector. Interns provide stable employment especially at the entry level. somewhat hotels just view interns as supportive force as contrary to long term investments. It is recommended that hospitality managers should create a sense of be to the interns so that they could come back and work in these establishments.Most participants i n this study appeared to accept Hoques (1999) view that the high level of turnover is a fact of life and a regular and acceptable phenomenon in the hospitality industry (Iverson Deery, 1997). In the fact, turnover still can be ameliorate by better management, as long as human resource managers can see it as an opportunity, not just an unavoidable problem.Some researchers have recommended that specific human resource management practices can improve employee satisfaction which in turns minimizes the turnover rate. Empowerment is one of the efficient approaches suggested by many researchers (Enz Siguaw, 2000a, 2000b Lashley, 1999). They recommended that it is significant to give power to the employees who provide services by focusing on customers needs. Service visualises are the key activity in a customer service business and employees may encounter a lot of diverse unique situations which cannot be covered by the organizational policies and actions (Iverson Deery 1997). If org anizations are able to give power to their employees, then they are able to exercise prudence in delivering customer service and do any(prenominal) is required to satisfy customers needs (Enz Siguaw, 2000a Lashley, 1999). It has been disputed that empowered employees also have a propensity to have a strong sense of control and personal worth because they can take liability for the service encounter and have the power to effect customer satisfaction (Lashley, 1999). At another(prenominal) level, it has been recommended that empowered employees are motivated by doing meaningful work that in conclusion enhances their job satisfaction and reduces the turnover rate sAccording to Lashley, (1999) as a result of global economic changes there has been increased argument and uncertainty, the firms have to be flexible in employee resourcing and responding to customers. The human resource managers must use methods that give them flexibility to employ employees to respond to variations. This type of employment helps the organization to cut on direct labor cost and also provide flexibility for employees and employers.One of the possible negative characteristic is that dispatching workers have a limited relationship with hotels in which they will work turn up in low trust and low commitment. These might, in turn, lead to divergency between direct-hire and dispatching workers, and between management and employees (Kalleberg, 2000). Another likelihood is that it is more dearly-won to manage the outsourcing activity than initially expected, so that the goal of cost economy is not achieved (Albertson, 2000).The tendency towards flexible working has become inevitable in such a fluctuating environment (Purcell Purcell, 1998), and dispatching is one of the arrangements which are inclined to be a permanent dynamic of the hotel industry in the future. fleck becoming more popular in Taiwan, but there is no rule of the process at the time of writing. It has been argued that it is essential to regulate dispatching employment, because of the complex triangular employment relationship between dispatching company, dispatched worker, and the firm to which they have been dispatched (Kalleberg, 2000 Purcell Purcell, 1998). expiryThis study set out to find out the contemporary issues in the hospitality industry. Due to its nature the hospitality industry and globalization effect the industry has several contemporary issues. These contemporary issues have a direct impact on the hospitality industry and for that reason they must be strategically managed for these businesses to succeed. This study however lays emphasis on the contemporary issues in human resource management.The findings of this study suggest that many of the participating hotels idea and mindset are at the operational level, rather than the strategic level. raze though a good number were able to identify occurrence human resource management issues as vital, it seems that many do not have strate gic approaches to deal with these challenges. Equally, although most perceived specific human resource management functions and practices as being very important, some of these are not utilized in a complicated way. Some of those interviewed had story thoughts and creative ideas but had a limited voice or battle in decision-making. It seems that their role is seen as being to go behind the polity that has been already set by top management, rather than being an dynamic voice or head in the organizations thinking.It was very strange for respondents in this study to have a seat at board level or to play a key role in creating and backing competitive advantages for the business. The interviewer concluded that human resource management is not normally seen as a source of competitive advantage, and many look foregoing to maintain competitiveness mainly through new facilities and amenities. Nonetheless, Ottenbacher and Gnoth (2005) have argued that the might of a hotels approach to human resource management is just as significant as a source of sustainable advantage.This study has tonic that the highly competitive nature of the industry affects both customers and staff. In particular, adroit people are much preferred in a labor-intensive customer service industry. This research has expectantly provided some practical and strategic suggestions for hoteliers to cross the gap between the operational level and the strategic level of thinking and practice. Nevertheless, it is concluded that hotel owners need to be aware that human resource management must be managed well in order to salve up with changes in the global environment. The human resource management function is no longer one of traditional personnel administration instead, it must be strategic and proactive in dealing with complicated human resource management issues.

Background Of Online Banking In Vietnam Marketing Essay

background Of Online slanging In Vietnam Marketing EssayIntroductionThe explosion of cyberspace engineering science has revolutionized todays stinting orbicularly. The changes and innovation of technology has altered the way tilling industry can exsert its services to customers. A makeable online banking has emerged as the most chief(prenominal) online transaction broadcast for e-commerce, e-shopping, internet stock trading or online auction (Lee, 2009). profits banking is utilise as a medium with closelyer transaction speed and degrade handling fees (Kalakota and Whinston, 1997). Furthermore, there is no renderitional softw atomic number 18 involveed when customers conducting proceedings on websites (Polasik and Wisniewski, 2009). With the improved online security measures, customers not only can check their balances on banks websites online banking allows conducting transactions that are more complicated such as transferring funds, salaried bills or even writing checks. Their depositworthiness on online has nevertheless change magnitude (Tan amd Teo, 2000).Banking industry has initiated a paradigm shift from traditional brick and mortal branches to online. In banks websites, customers serve themselves without the need of frontline staff. To this, banks benefited from staff reduction, lesser branch sizes, and cover-related progress tos (Tan and Teo, 2000 Compaq, 2001). match to Burham (1996), the establishment of website consumes less than US$25,000 in which the website maintenance also be less than US$25,000 annually a big divers(prenominal) as compared to maintain a branch. For the customer point of view, convenience and efficiency are the spacious motivation for them to pulmonary tuberculosis online banking (Bruno, 2003). Customers do not need to go to bank, queue up, waiting or constrained by banks op seasonting hours. It fractures customers any date, anywhere banking facilities (Lassar et al., 2005).There is a quick growth of customers in victimisation online banking services. The narration of International Data Corporation (IDC) report shows that the online banking engagers has surpassed a tot up of unitary hundred trillion by 2004 (Maenpaa et al., 2008). The importance and advantages of online banking has prompted banking industry to rethink their schema and for long-term survival, most of the banks go online (Tan and Teo, 2000). To stay competitive in the global market, ontogenesis countries like Malaysia and Vietnam stomach tentatively launched their online banking. Malaysia has actively developed e-banking since the middle of 2000 (Poon, 2008). Vietnam politics focus strongly on telecommunication development and has enforced internet in aver to append e-commerce habitude (Chong et al., 2010). Although Malaysia and Vietnam are from the southeastern United States Asia region, elements like legal, cultural, social, political, and technical work on among both countries are differen t. The different elements add further the complexity in using online applications classmes (Tarasewich et al., 2002). The degree of different cultural context in both nations depart influence the typical ship canal on how online applications are applied in an online banking corpse (Zakaria and Stanton, 2003). Beyond the apprehension diverse in cultural aspects on consumer behaviors, there is a need to improve the conceptual underpinning the similarities and differences across both countries by understanding the federal agents that yell customers design in using online banking.To attract more customers engaging in online banking, it is essential for banks to develop channel characteristics that are preferable by customers. This paper analyzes the customers pose towards online banking in both Malaysia and Vietnam context and their preference factors in judge online banking channel. An in-depth understanding of consumer perceptions and behavior are needed to be understood in rule to enhance online banking functionality. For early adopter countries like Malaysia and Vietnam, the ultimate winner of online banking still depended on customers willingness to usage online banking. Thus, it is authorised to identify the antecedents of customer bridal towards online banking.Comprehending what are essentials enticing customers to rehearse online banking will provide management great insight in developing effective strategies to remain competitive in the industry and hold market share. In our research, we rely on the technology espousal specifyion (TAM), in point perceived habituatefulness and perceived ease of purpose in linking with behavioral intention to social function online banking. The posture is then synthesized with some other antecedents such as trust to study customers potency in their decision to try a bare-ass technology and organization e-readiness factor in both nations of Malaysia and Vietnam. We begin the paper by exploring the setting of online banking in both countries. Following by examining the theoretical employ and guesswork developed. After that, description on methodology and analysis is provided. We performed results, discussions on square offings, limitations of the study, implications of study, and finally, conclusions. range of Online Banking in MalaysiaIn Malaysia, the advancement in ICT has embarked a wide meander E-business enforceation in umpteen companies. By launching Multimedia exceedingly Corridor (MSC) as a mean to facilitate businesses through a troops of privileges that entail world class services and infrastructure as headspring as financial incentives, Malaysia has captured a total revenue of US$383.5 million from E-commerce in 2000 and the figure boosted up to US$9336.2 million in 2005 (MDC, 2003).Banking institutions ware actively exploited the opportunities that arise from these developments. Since 2000, many banks anticipated in developing mesh banking (Poon, 2008). The electronic revolution in Malaysian banking sector has historically started by introducing Automated Teller Machines (ATMs) by 1981, which provide customers the extending banking hours beyond business leader hours (Jawahitha et al., 2003). This computerized telecommunication device provides customers the convenient to access to financial transactions in a wider geographical locations.After that, another service channel was introduced in the early of 1990s, namely tele-banking. This service is eventually connected with Automated portion Response (AVR) technology. However, Malaysian banks showed little interest as public showed a relatively low interest of response rate (Jawahitha et al., 2003).With the strong emphasis and encouragement by government in the usage and adoption of individualised computer, banking environment has underg whizz a more drastic revolution by oblation online banking services through their interactive company websites in 2000. Maybank is the first bank that provides online banking services in Malaysia through www.maybank2U.com portal. It was then followed by Hong Leong Bank, Southern Bank and Multi-Purpose Bank. (Suganthi et al., 2001).At present, there are 24 banks offering online banking facilities. Online banking is getting its popularity in Malaysia. It has received overwhelming responses from customers due to its convenience and has proven advantage in reducing costs. The number of online banking subscribers has increased from 3.2 million in 2006 to 7.5 million in 2009, with the population penetration rate from 11.6% (2006) to 25.9% (2009) (www.bnm.gov.my). Apparently, this lordly sign has enlighten the banks to never-ending seeking ways to enhance the use of electronic applications more comprehensive and effectively.Nevertheless, consumers are demanding for check transparency, integrity and communication of online banking services. Therefore, it is important to investigate the factors that influence the use of online b anking. The strength and capability of financial institutions to harness appropriate ICT strategies is crucial to continue to position themselves for snap off success in this rude(a) era through customer retention and growth in the market share.Background of Online Banking in VietnamIn the mid-1980s, the Communist Party of Vietnam formally ended its concentrate planned economy and began to adopt economic reform program, widely know as doi moi or Renovation, as a mean to go around itself to the world. Since that, Vietnam has started to appear as one of the important economy emergence in Asia Pacific area (Phan, 2008).The first entry of Internet was in November 1997. precondition this opportunity, Vietnamese companies take a crap increased their emphasis to implement computerized establishment and IT facilities in their daily business operations. However, most of the technical websites are mainly used for promotion purposes instead of real existent of online transactions. (Hua ng and Swierczek, 2008).Vietnams industrialization has led to rapid ICT growth. Under the Overall Plan on Developing E-Commerce, Vietnamese administration encourages more companies to implement e-commerce in their business operations (Peoples Daily, 2006). In order to stay competitive in the challenging marketplace, companies encode e-commerce implementation as a vital element in their business strategy. As of 2000, the Internet penetration rate has reached 0.3 percent (0.2 million users) of the population. In 2009, the Internet users befuddle surged to a total of 22 million, presented a 25.7 percent of total population (Internet World Stats, 2009).Vietnam Government started to focus on service sector by realizing its feasibility and effective trespass on the overall business. The Government aims to come efficient e-commerce development by encouraging mountain to use it (Chong et al., 2010). With that, online banking is viewed as an important tool or medium to leverage the succ ess of e-commerce implementation. Vietnamese banks shake off made efforts to establish inter-bank networks to support online payments. The system processing of commercial banks take on been improved and banks applied more advanced software and application programs (english.vietnamnet.vn). However, there is a overleap of integrated technical system in the midst of organizations and banks to provide customers a more structured and systematic payment system. Furthermore, the lack of law and regulations establishment regarded to online banking issues still remained undefined which bemuse led to many difficulties in dispute settlement. As online banking in Vietnam is getting popular and offer banks better cost-effective solution, therefore this study aims to examine factors that influence the bridal of online banking in the country.Technology Adoption ModelIt has been be that users attitudes and behavior towards makeance of a new data system indicated a critical impact towards t he successful technology adoption (Davis, 1989 Venkatesh and Davis, 1996 Succi and Walter, 1999). This is due to the fact that, the more users accept new information system, the more they will try and start to use it (Succi and Walter, 1999). Given these, researchers have been trying to find factors that influence individual in accepting new technology.One of the most popular and utilized model of technology adoption is the technology acceptance model (TAM) (Davis et al, 1989 Davis and Venkatesh, 1996 Al-Gahtani, 2001). As online banking is one type of technology innovation (Lin and Lee, 2005), we propose the technology acceptance model (TAM) as the theoretical foundation in this study to predict users online banking usage and preference, which in turn, determined users beliefs towards the online banking system (Joaquin et al, 2009).There are two important components in TAM, which are perceived usefulness (PU) and perceived ease of use (PEOU). The first determinant refers to the deg ree to which a person believes that using a particular system would enhance his or her job performance (Davis et al., 1989). In the context of online banking, it refers to the degree on how effective an online banking system assists in productivity, work, and cost-saving (Rao, 2003). perceive ease of use is the degree to which the prospective adopters expect new technology adopted to be free effort regarding its transfer and utilization (Davis et al., 1989). In this context, the easier adopters find it to learn and use online banking system, the higher the potential he or she will adopt it (Chong et al., 2010).Although many studies showed TAM is a useful, valid and legitimate model (Jeyaraj et al., 2006), many researchers have extended the model by adding different variables based on the types of information system or technology they canvass. A critical review from Legris et al. (2003) revealed that there is a need to include other components in order to have better explanations a nd broader view in new technology adoption. In this cross-cultural study, trust and government e-readiness components are added in order to have better picture in their decision on online banking adoption. The two additional components can be varied as they posit different cultural backgrounds within these both countries. sensed UsefulnessIn the model of TAM, perceived usefulness is a evidentiary factor touch in the acceptance of information system (Davis et al., 1989). It is also has been found to have direct effect towards online banking adoption (Eriksson et al., 2005 Pikkarainen et al., 2004). Similarly,Numerous papers have been studied about perceived usefulness on online banking. For example, Wong et al. (2003) explored that perceived usefulness has overbearing significant effect on behavioral intention towards online banking in mainland qina context. The study concluded that Taiwanese exploit online banking systems as they find the system is useful and comfortable to use. Pikkarainen et al. (2004) further indicated that perceived usefulness was found to be the most influential driver in online banking service. The purposes explained that users choose to use online banking because of it anticipates better advantages as compared to other delivery channels. In Thailand, perceived usefulness is significant among Thai consumers intention to use and it has became a prominent encouragement for them to use online banking services (Jaruwachirathanakul and Fink, 2005).In this research context, perceived usefulness refers to consumers perceptions in using Internet as a financial transaction medium in order to enhance their banking experiences. These perceptions will influence consumers attitude toward online banking and their intention to use it. The main reason users start to use online banking services as they find the systems are useful and convenient during their transactions. Therefore, we test the following hypothesisH1. perceived usefulness has a positi ve association with consumers intention to adopt the online banking. comprehend Ease of UseBesides perceived usefulness, perceived ease of use is found as one of the important influential in adopting new technology (Davis et al., 1989). Perceived usefulness is the extend on how effective Internet and its applications in assisting consumers to accomplish tasks on the other hand, perceived ease of use is the degree on how easy to use Internet as a medium to complete tasks (Toita et al., 2004). The beliefs of a person on the difficulty to use online systems will affect his or her intention to continue to use a technology (Davis, 1989). In the words, the complexity of certain online applications will tend to admonish or slow down technology adoption (Rogers, 1995).Various studies have offered insights on the significant effect of perceived ease of use on behavioral intention. According to Moon and Kim (2001), information systems not only should be easy to use, it should also stress on user friendly features. With that, users will feel less threatening and have more confident when using it. Eventually, this implies that perceived ease of use will affect the users perceived believability during their interaction and exchanges on Internet.In a subsequent study, Wang et al (2003) put down that perceived ease of use had a significant effect on behavioral intention. This is highly related to users that have higher self-efficacy towards computer usage. The finding indicated that Taiwanese views interfaces and applications on banks websites are understandable and online banking is easy to apply and use. In a later study, Amin et al (2008) also revealed that there is a positive relationship between perceived ease of use and mobile banking adoption.By understanding that perceived ease of use will affect consumers attitude and intention, therefore it is important to identify the latent dimensions of this construct in online banking. Thus, we hypothesized thatH2. Perceived ease of use has a positive effect on consumers intention to adopt the online banking.TrustTrust is a crucial factor in many transactional relationships. Trust exists when one party is confident with anothers reliability and credibility (Morgan and Hunt, 1994 Ranaweera and Phrabu, 2003). According to Eriksson et al. (2005), trust is defined as the perceptions towards security and reliability of online banking system from the perspective of customers. The issue of online banking is more critical in comparing to offline banking (Al-Somali et al., 2008). As online banking transactions required sensitive information and access to critical files which transferred via Internet (Alsojjan and Dennis, 2006 Suh and Han, 2002). Therefore, it adds further the complexity to examine online banking trust as the interpersonal trust not only relying between banks and customers, but also between customers and information system (McKnight and Chervany, 2001-2002). To this, Grnroos (2001) concluded tha t the professionalism in the aspects on intelligent systems and operations is important in building customers trust.Collectively, customers have doubts on the overall security policies in online banking. Especially new adopters in developing nations like Malaysia and Vietnam have found to have less confident in trying online banking due to security reason (Gerrard and Cunnningham, 2003). In many banking websites, security technology like encryption, password, identifiers, or inactivity automatically logs users off the account are implemented to disregard the overall risk during transaction process and the same time increase customers trustworthiness in using the system (Hutichinson and Warren, 2003).In Malaysia, a total number of 500 respondents from different banks customers have been investigated and found that security factor showed the highest Cronbach alpha score. This indicates that security and trust towards online systems are ultimately important in order to encourage custo mers to start to use online applications. Therefore, the major concern for banks to implement online banking falls on the extent to how customers perceived trustworthiness of a particular system (Poon, 2008).In the study of Al-Somali et al (2008), trust has found to have significant impact in influencing customer attitudes towards online banking usage in Saudi Arabia community. Whereby, Sathyes (1999) identified security and privacy as the biggest obstacles towards the adoption of online banking in Australia. Thus, it is hap that without trust, customers will avoid making any transactions in realistic online environment.Although the consequence of trust in business-customer relationship has been established, the trust construct in virtual online banking is still in a somewhat ambivalent manner, curiously in developing countries context. Thus, we proposed the following hypothesisH3. Trust will have a positive effect on consumers intention to adopt the online banking.Government Su pportGovernment plays a vital role in creating institutional environment to encourage the nation to adopt online banking services. In the efforts of government by investing heavily in the aspects of availability and quality of labor, technical infrastructure, policy, work force training and maintaining have nevertheless prepared banks a better platform to foster online banking service (Gibbs et al., 2003).It has been observed and verified in the anterior studies that governmental support either in projects funding or adoption schemes have leveraged technology diffusion in a shorter period of time (Tan, 2000). For example Tan and Teo (2000) mentioned in their study that Singapore Government has successfully promoted the adoption of electronic data interchange (EDI) through educational program (Burn, 1995).In Malaysia, with the launch of Multimedia Super Corridor (MSC) which is fully supported by government in 1996 has prepared Malaysia a great advancement into the flourish of ICT w orld. One of the key efforts of MSC is to provide the necessary facilities and technical skills for local anesthetic and foreign businesses through its flagship applications and business services. With the implementations of electronic government, multi-purpose identification card, smart schools and telemedicine, government have tentatively encouraged the citizens to conduct transaction online.Vietnam, an emergence fast growing economy country has started to invest and improve its ICT infrastructure passim the country. Rahn Wood, a senior executive of Techcombank, said that, although online baking remains unfamiliar with(predicate) in Vietnam, but it has foreseen to be potentially welcomed by Vietnamese people (VietnamNet, 2009). Although most of the people in Vietnam still prefer offline banking, there have seen an overwhelming increased usage in online banking, mobile banking, home banking, send for banking and other card and e-payment services. This phenomenon is particularly significant in the Ho Chi Minh capital (VietnamNet, 2009). Government should play the role to encourage citizens in order to increase the usage rate in online banking. Thus, we hypothesized thatH4. Government support has a positive effect on consumers intention to adopt the online banking.

Managements incentives for establishing and maintaining strong internal control

heeds motivators for establishing and maintaining cockeyed ingrained bind25. dispute circumspections incentives for establishing and maintaining noticeable congenital control.Before we start answer this question, let us understand what the definition of internal control is. Internal control is knowing and implemented by an entitys management, those charge with governance of the entity, and different personnel to pass on reasonable assurance regarding the reach outment of objectives. In addition, internal control is in like manner skunk be refer to a process wherein the structure of the organization, the breeding transcription and authority are designed in such a way that it muckle helps the organization contact its objectives and goals. (Bhattacharyya, August 2010) Internal control plays an all important(predicate) role in how management meets its stewardship or agency responsibilities. For example, internal control for a affirm is the systems, policies, procedur es, and processes effected by the board of directors, management, and other personnel to safeguard bank assets, limit or control happens, and achieve a banks objectives (Internal Control Comptrollers Handbook January 2001). A system of upstanding internal control is the backb unmatched of an associations management program. Strong internal control may helps a companionship to meet their objectives and goals, and to maintain a healthy, successful operations.For a bank, Good internal control coffin nail help a bank to keep off surprises and achieve its objectives.After we understand the internal control, let us see the managements incentives for establishing and maintaining loaded internal control. There are few management incentives such as provide safeguard of assets and company records, goodness and efficiency of operations, hold openion and detection of hypocrite and error, compliance with applicable constabulary and regulation, avoid wastage of resources, happen man agement systems are in force(p) and lessen take a chance of injury to the associations reputation.First, the managements incentive for establishing and maintaining strong internal control is to see to it company records and assets can be straightlacedly safeguard. A strong internal control can ensure that asset was non been stolen and certificates or company records are proper keeping. Then, a proper safeguard of company records and assets can generate veritable instruction for the company because the records will non easily be manipulated. Besides, Management also needs reliable selective culture to ensure the fairness of pecuniary report. It can reduce the difficulty between the principal and agent. So, what is mean by principal and agent? Actu totallyy, principal is referring to absentee owner such as stockholder and agent refers to manger who is working in company. The problem is information instability and conflicts of interest are occurring between themselves. T his is because jitney has more information roughly true financial position than shareholder. Moreover, they are different objectives in sometimes, so it will lead to conflict of interest. For example, the goal of shareholder is to obtain high dividend from the company which they invest. However, the goal of manager is to level best the profit of the company. Therefore, they will be a conflict such as whether using the excess earning to maximum the dividend for each of the shareholder or increase their market share by increases the advertising. It will lead to the problem between shareholder and manager, because the shareholder did non know whether the manager has d adept a correct or win-win decision. Then, they did not know the financial statement have incurred error or fraud or not. However, a strong internal control may ensure a safeguard of companys records and assets and it will increase the trustiness to the company. Then, decrease the problem between agent and principal s. Besides this, reliable information is important to begin a good decision to a company. If the information system does not provide reliable information, management may be unable to cook quick and informed decisions such as product pricing, profit information and cost of production. It is important that the top management is generated with truth information, as they entrust on these data to make important and critical decisions. Therefore, a strong internal control is demand in order to make financial information transparent and additionible to the managers or decision makers.Second, the managements incentive for establishing and maintaining strong internal control is to have an durability and efficiency of operations in a company. Effective of internal controls can be sure that all duties are world completed according to standards, rules and all quotas are being met. However, efficiency of internal control is very important to the achievement of sustainable competitive adv antage and the maximization of profitability. Operational procedures, best-practice and performance polishs are effective internal controls of efficiency. (Ingram, eHow Contributing Writer) A strong internal control increases the effectiveness and efficiency of operations, reduces the risk of asset loss, and helps to ensure compliance with laws and regulations.Third, the managements incentive for establishing and maintaining strong internal control is to prevent and detect of fraud and error in company. Error is un designed misstatements make by staff or manager such as do mistakes in gathering or touch financial data used to rig financial statements. Then, fraud is intentional misstatements make by staff or manager such as manipulation, falsification, or alteration of distinguishing records or supporting documents used to prepare financial statements. Therefore, a strong internal control can prevent and detect the error and fraud. For example, segregation duty between record shipping inventory and calculate inventory physically can prevent thievery or stolen of inventory occur. Besides, a proper freshlys report information system can prevent the error or fraud, such as gross sales clerk only can access and key in the information about the sales and account receivables only. Therefore, the sales clerk cant access to cash account in order to create a assumed customer. Moreover, monthly bank reconciliation can check the mathematical accuracy of the bank reconciliation working paper and agree the balance per the books to public ledger to detect the error or fraud in account bank.Next, the managements incentive for establishing and maintaining strong internal control is to compliance with applicable law and regulation. Following law and regulation set by government affect huge investment fundss, especially that of time. Therefore, a strong internal control is necessary in order to avoiding legal consequences by follow the rule and regulation. That mean , it can reduces or avoid the costs which may have to occur if the company dont follow rules.Then, the managements incentive for establishing and maintaining strong internal control is to avoid wastage of resources. A strong internal control can helps company avoiding wastage of precious resources, in any event increasing efficiency. It is because maximize the profits or income by utilization the resources is one of the method of efficiency. Strong internal controls can avoiding wastage of resources like an effective accounting information system can ensure the reliability and appropriate of the information for avoid to making an inefficiency and inaccurate decision and impecunious asset of the company in investment in that decision such as wasted cash or establish a useless debt for an ineffective investment.The managements incentive for establishing and maintaining strong internal control is to making risk management systems effective. An entitys risk assessment process is its pr ocess of identifying, evaluating, and responding to the identified business risk. For example, mobile think company such as Nokia always facing business risk not because of its competitive environment only but rapid changing technology is also a main reason. To suit for the customer leaning and favourite, Nokia facing business risks that are always need to make investment in Research and Development Department to design a new model and rapid upgrade their product. However, not all the mobile telecommunicate discover by Nokia will be the favourite of the customer and making a profit, so a strong internal control is important to assess the business risk and reduce the business risk to an unobjectionable level.The last managements incentive for establishing and maintaining strong internal control is decreased risk of damage to the associations reputation. It is because a strong internal control can produce a reliable financial statement, making operating procedures more effective and efficiency, prevent and detect the error or fraud and compliance with applicable laws and regulations. Therefore, the financial report will be more credibility and decreased risk of damage to the associations reputation.Last but not least, after we review the managements incentive for establishing and maintaining strong internal control, we can conclude that a strong internal control is very important to every company to achieve their businesss goal, such as provide a safeguard of records and assets or making an effectiveness and efficiency of operations. Therefore, a strong internal control is one of the factors that ensure the company may successful also.

Key Consumer Behavior Issue Marketing Essay

Key Consumer Behavior Issue Marketing raiseThe brief overview of the article is most special K hotshot as Australian low exist airlines that going to spend more(prenominal) budget in genial media marketing instead of using high price stodgy way. yard spark advance is facing an outcome in how to compete with different airlines company and whether commons sense experience can be success in ever-ever-changing consumer billet toward its new plan in publicizing. This becomes the key issue in consumer port raised by the reporting.An explanation of how the article relates to consumer deportment theorySo basic entirelyy this article is relevant to be selected since it is cerebrate with theory of consumer nature of attitudes and also changing the cognitive element of attitudes by dint of the way pip-squeak Star advertise in affable media.The premiere theory is about the nature of attitudes. tour on the attitude there were two components which be cognition and emot ion. Cognition is about beliefs of attitude, while emotion is about consumer feeling to an entity. Also there is power structure of effects exists that relates consumer emotion, thought, and behavior together with marketing communication. The first one is standard learning hierarchy (learn-feel-do) the next is the low-involvement hierarchy (learn-do-feel) and finally is the experiential hierarchy (feel-do-learn). (Solomon, Russel-Bennet, and Previte, 2010). Based on that theory, outpouring Star is applying the standard learning hierarchy. This is similar to process where consumer attitudes be being constructed. Consumer sees their preference in decision making as a problem solving process. The first step is they collecting the fellowship about the product, in this case is airline ticket, about the price and the differences among oppo send airlines and in feeling stage, consumer evaluate whether the price is suitable for them and finally consumer begin to check the decision by real action in choosing to buy the Jet Star ticket flight. It seems that from this hierarchy, consumer tends to be bonded with the product instead of buying other(a) product. This hierarchy get aheads consumer to book high involvement by discovering any knowledge of the product and then come out with a conclusion. (Solomon, Russel-Bennet, and Previte, 2010).Again ground on Solomon, Russel-Bennet, and Previte (2010), the aim of trafficker in attitude swap is to make consumer go through their product, or go in opposition to competitors product. there are two ways in changing consumer attitudes, by changing the cognitive component of learn and by changing the emotional component of feel. In changing cognitive component of attitudes, marketer can map any message that constructing the argument, drawing conclusion, or use comparative advertising. While on the other hand to change emotional component of attitudes, marketer can use any feeling such as temper or fear to change consu mer attitudes. Apparently in this case base on the nature and consumer relationship with the product, Jet Star is using changing the cognitive component of attitudes to influence the attitude of its potential consumer. The way they engage is constructing the argument in which Jet Star shew to argue and work the consumer about the advantage of them by choosing Jet Star as escape partner. So basically in this case, Jet Star wants to change the attitude instead of consumer feeling through this shape of social advertisement. There are two kind of measuring argument, the first one is supportive argument, and the other is refutational argument (Lecture slide, 2010). Using Twitter and YouTube as well, Jet star is presenting all of positive characteristics that they can offer in their service. It always does promotion in twitter and show how great they are on their service in the flight and mainly what they sell is their super cheap price. However, Jet Star can be considered as having refutational argument as well when the prohibit issues is raised and then solve it. This case appear from twitter, in which Jet Star is being asked by people or potential consumer who followed Jet Stars account about negative thing, such as complaining, and then effectively, Jet star could solve the problem directly to the consumer.Implications for marketing or advertising in the category, or industry, or sector discussed byThe articleIn order to compete and win the consumer with the new plan in advertising, Jet Star should stick with their plan to invest more in social media and online advertising. This is based on evidence that from previous year in 2009 where they had try to launch the advertisement in social media, the result came into a ample success as the cost of doing advertisement in formulaic media is became more costly and fragmented. Moreover, with the usage of social media, Jet Star could minimize the cost of using conventional media and get higher ability in stret chability the consumer. Using social media as tool for reaching consumer, could makes Jet Star to reach hundred from thousand prospective consumer, just with one dim-witted online message. (Reed Group, 2010).Hopefully consumer is required to change their attitudes in choosing a service from airline Company, and in order to do this, the consumer needs to adapt with this kind of advertising in social media. Only little adaptation that they needed, as this kind of new way in advertising is now part of consumers social daily life. In conclusion, using YouTube which is open video sharing site as medium for advertising representation of the future (Incisive Media, 2010) and twitter that has many a(prenominal) users out there and searches on trending topics are to be anticipated signal for mass advertise ads (Bernoff, 2010), get out make Jet Star to successfully change consumer attitude from using another airlines into using Jet Star flight service. In addition if people using twitter and have to go through direct link into Jet Stars main page, they will come up to website that have predicate as the fastest homepage clog time of Australian airlines website (Marketing Mag, 2009). Furthermore, in the future Jet Star could change consumer attitude in getting information about their service from conventional way, into adapting up to date information of service offered to consumers social daily life. And the ground of their future success is based on the fact that they will slip of paper 40% of their marketing budget into social media that had been proved before, in which this theme is getting phenomenal responses (Incisive Media, 2010).Main articleReed group, 2010, JETSTAR to shift 40% of spends online, viewed fifteenth April 2010, .Secondary articleBernoff,J., why you should advertise on twitter, viewed 15th April 2010, .Incisive Media Investments Limited, 2010, YouTube hailed as advertising medium of the future, viewed 15th April 2010, .Marketing Mag, 2009, tige r and Jetstar big winners online, viewed 15th April 2010, .Solomon, M. R., Russell-Bennett, R., Previte, J, 2010,Consumer Behaviour Buying, Having, Being. Prentice Hall/Pearson Education, Australia.Lecture slide, 2010, Consumer behavior attitudes and attitude change, University of QueenslandAttitude and Attitudes ChangeBenno Arsanto41953734Faculty of economic, University of Queensland

The liberlization and privatization of the indian economy

The liberlization and privatization of the Indian savingRajiv Gandhis brass initiated the indemnity of repose since mid-80s. The liberalization openings sire been at a lower placeinterpreted in India with a view to accession a labor, improve prize and necessitate entranceway to grocery for products and returns abroad. Radical liberalization or globoseization measures reach been brought in since July 1991 to get ahead the Indian economy progressively grocery store place oriented and integrate it with the rising world-wide economy structure. These measures include decrease and rationalization of excise duty and customs duties, delicensing of several drug and pharmaceutic products, ready access to importing of raw material and expectant goods and so on.It has created an environment conducive to an enterprise, investing and innovation. Indian industries pay started to attract distant portfolio investment and equity bulgeicipation in novel ventures. The presi dency is move to make foreign players feet at ease to invest directly and develop with it new applied science and tradinging skills. in that respect has been impressive product in FDI inflows to India with the introduction of indemnity renews. As compargond to a near total intentness in manufacturing till 1991, the bulk of new inflow has come in the energy and service empyrean.liberalisationThe New industrial form _or_ system of organisation, 1991A get of significant scotch heightens introduced by m either a progeny of countries whole the world over, the encouraging results of the liberalization measures introduced in 1980s by the brass of India, and the unsteady stinting situation that prevai take during the later part 80s get down sustain and forced the then Congress politics, which came back to power at the center, under the attractionship of Shri. P. V. Narasimha Rao-a non Nehru family member, to take several(prenominal) bold measures to rejuvenate t he economy and to press forward the pace of victimisation. In this background, the Government of India announced its New industrial constitution (NIP or IP) on July 24, 1991. The main(prenominal) objectives argon (a) to correct the distortions that may pick out crept in, and consolidate the strengths built on the gains already make, (b) to maintain sustained growth in the productivity and gainful employment, and (c) to attain external competitiveness. Therefore, the basic ism of the New IP, 1991 has been the continuity with change. Because, the new policy represents a renewed initiative towards consolidating the gains of national reconstruction at this crucial stage. But what is to a greater extent than serious is the change (in continuity with change)-change in the attitude of the evidence towards the industrial society, change from centrally planned economy to grocery led economy, change from riotous administration intervention to minimal intervention, change from nat ionalization to privatization, change from concession and cross-subsidization to gradual withdrawal of subsidy, and so forth But these changes, which the government has introduced, represent a sharp departure from the earlier industrial policies. These changes pertain broadly to quint aras viz., (a) Industrial licensing,(b) Public domain policy, (c) MRTP Act, 1969, (d) remote investment, and (e) Foreign technology agreements.Industrial LicensingThis is one of the argonas in which demonstrable change has been made by the government. With a view to contrive effect to these changes, the government issued a notification viz., presentation No. 477 (E) on July 25, 1991 and this notification has exempted the industrial under victoriouss from the operation of the following fractions of Industries using and Regulations Act, 1951 subject to the fulfillment of certain conditions.Section 10 (which deals with registration of breathing industrial travails)Section 11 (which is concer ned with the licensing for new industrial undertakings) andSection 13 (which is concerned with the licensing requirements for substantial expansion).Further, the second schedule app hold backed to the notification cited supra viz., No. 477 (E) lists the industries which argon subject to mandatory industrial licensing. correspond to this notification, solely 18 industries were subject to compulsory industrial licensing. Further, five more industries pass been excluded from the list of industries which are subject to compulsory industrial licensing subsequently. That means, solely(prenominal) 13 industries are now subject to compulsory industrial licensing.Public empyrean insurance policyA declamatory number of Public Sector Enterprises have failed to achieve at least a reasonable rate of success. well-nigh of the factors which have contributed to this situation are over staffing and over managing, price and distributions controls, etc. Hence, the government, in its Industrial polity, 1991, introduced the number of significant changes pertaining to the PSEs. Some of the important changes envisaged by the New Policy are summarized below.Prior to the announcement of New Industrial Policy, 1991, seventeen industries were reserved exclusively for the re cosmos for their future development. Further, with abide by to approximately other 12 industries, the reconcile was to play an important role by taking initiative to establish new undertakings. in any event, the state had power to enter into any other area reserved for the head-to-head orbit. However, the failure on the part of majority of PSEs has forced the government to review its earlier decision. Consequently, the government in its New Industrial Policy, 1991 has p outflowed the list of the industries reserved for the mankind celestial sphere to exactly 8. Further, the government has dereserved 2 more industries. As a result, only sextet industries are now reserved for the open sector. They are (a) Arms and ammunition and allied items of defence equipment, aircraft and warships, (b) Atomic energy, (c) Coal and lignite, (d) mineral oils, (e) Minerals specified in the schedule to the Atomic Energy Order, 1953, and (f) Railway transport. Hence, the focus of the world sector bequeath be only on strategic and exalted tech industries and on basic infrastructural projects. However the objective of the New Industrial Policy has been to withdraw the human race sector investment from the activities which can success encompassingy be taken up by the hush-hush sector enterprises. The emphasis of PSEs in future data track be on (a) Basic and essential infrastructural facilities, (b) Mineral resources, (c) Crucial areas in the interest of the economy in the long run and where the sequestered sector investment is inadequate, and (d) Defence equipment.With a view to bait the resources and to have a wider public participation, apart of governments contribution holdings in its enterprises exit be offered to the mutual funds, pecuniary institutions, employs of PSEs, and the general public. The New Industrial Policy as well as proposes selective privatization of PSEs. Further, the policy also proposes to close down the PSEs which have become pale and which cannot be rehabilitated. The sick PSEs which can be resuscitate will be refered to Board for Industrial and Financial Reconstruction for the grammatical construction of revival packages. The New Industrial Policy also aims at providing great operational and managerial autonomy to the anxiety of PSEs and making the managements accountable for the instruction execution through a system called Memorandum of Understanding.MRTP Act, 1969The New Industrial Policy, 1991 proposes to recompense suitably the Monopolies and Restrictive Trade Practices Act, 1969. To remove the threshold limits of assets in respect of MRTP companies and the dominant industrial undertakings. The important objectives of this were twain in number. They are stripe of concentration of frugal power in the hands of few which will be detrimental to the common interest andRegulation of monopolistic, restrictive and inequitable address practices which are pursued by the business community and which are prejudicial to the public interest.The New Policy proposes to renew the threshold limits of assets and therefore, to halt up the Provisions of MRTP Act, 1969 pertaining to the first objective. Hence, the MRTP Act now concerned only with the hindrance of monopolistic, restrictive and unfair trade practices followed by the industrial undertakings and the trading communities.Foreign InvestmentAs far as the direct foreign investment is concerned, the New Policy proposes to give automatic approval up to 51% of equity in the case of high priority industries and it has also set 34 such industry groups. Further, the policy proposes to drop by the wayside majority foreign equity holdings up to 51% of equity for th e trading companies which are diligent in export activities. This is to modify the domestic companies an easy access to international commercialises. With a view to negotiate with the outstanding international financial institutions and to revere the direct foreign investments proposals in selected areas, the New Policy proposes to constitute a special committee.Foreign engine room AgreementsThe New Industrial Policy proposes to give automatic permission for foreign technology agreements in identify high priority industries. Further, it also proposes to allow other industries to import foreign technology subject to the fulfillment of certain conditions.ConclusionThe New Industrial Policy, 1991 for sure differs significantly from the earlier philosophies, approaches, etc. of the government. For instance, prior to 1991, screen background of public sector was expanded by reserving more number of industries for the public sector. But now, its scope has been reduced drastically b y reducing the number of industries reserved for the public sector. Like this, a large number of changes can be sight in the new policy. This process has been continuing even in maculation liberalization era. Adding to this, the government has taken a number of steps to give effect to its policy decisions included in the New Industrial Policy, 1991. though the economy has been benefited significantly from these measures, the economy has not been able to reap the full benefits of the Economic Reform Package owing to the political instability, etc.PrivatizationPrivatization of PSUs majority of the industrial enterprises in the public sector have failed to achieve the want result. Of course, a number of factors-internal and external, controllable and non- controllable are responsible for his precarious performance. A look at the history of public sector undertakings (PSUs) in the country reveals the continuous expansion in the role of PSUs. Consequently, a number of enterprises hav e been established and huge amount of borrowed heavy(p) has been sedulous by the state even in the non-core, non-strategic and not so essential area. Hence, the state has made a number of changes in its New Industrial Policy announced on July 24, 1991.IntroductionIn the sixties and seventies, the public sector policy has been largely guided by Industrial Policy Resolution, 1956 which gave the public sector a strategic role in the economy. During the last quartet decades, massive investments have been made to build a public sector which has a commanding role in the economy. Today, many key sector of the economy are dominated by the mature public sector enterprises that have successfully expanded the achievement.In the early post-Indep eradicateence years, there was virtual(prenominal) consensus about the need for the government intervention in economic activities. Pandit Jawaharlal Nehru expound the public sector as Temples of Modern India. At that time, virtually uncomplete qu estioned the strategy nor raised any doubts about its implementation. The number of central public sector enterprises increased from 5 in the year 1951 to 240 by the end of 1995 and investments in public sector undertakings (PSUs) increased from Rs29 crore in 1951 to Rs. 1,72,438 crore by the end of 1995. They contributed nearly one third of our exports. They made significant contribution to import substitution. Government undertakings account for more that 70% of the work force employed in the organized sector. They have greatly reduced the imbalanced of regional development and have laid strong base for the rapid development of the country. Some of the PSUs have earned a reputation par purity at the international train. Some giant public sector units (e.g., Indian Oil Corporation, Steel Authority of India, Oil and Natural Gas Commission, Hindustan oil color Corporation Ltd., Coal India Ltd and Bharat Petroleum Corporation Ltd) figure in dower world-wides large companies. Furt her, the public sector accounts for one-fourth of the countrys GDP.There are two cardinal employees in government undertakings and the average emoluments per annum amount to more than Rs.50, 000 each. Besides paying high salaries, public enterprises assure job security, good working(a) condition, seductive incentive scheme, participative management, higher degree of safety, adequate facilities, etc. content of PrivatisationThe revolution of privatization started in 1980 and spread to many parts of the world. Several countries are privatizing their public sector enterprises. India is no exception to it. Privatization was meant to improve the performance of public enterprises. Privatization techniques have been tried in countries like Great Britain, China, US, Turkey, Brazil, Mexico, Japan, etc. Privatization, in the narrow sense, means transfer of ownership, or sale of public enterprises. However, privatization has been use in different ways as detailed below easiness near Priva tization may be used in the sense of liberalization having fewer controls and regulation by the state in economic activities. This also means slowness of new controls and regulations and also dismantling of the existing controls and regulations. intercourse Share Enlargement Approach Privatization may relate to enlargement of the piece of land of private enterprises in the production of goods and services in the economy. This means that windy economic expansion of goods and services produced by private sector and slowing down of production of goods and services in the public sector.Association of undercover Sector Management Approach This approach suggests utilizing the services of managerial personnel office or executives of private sector enterprises for the conduct and management of PSUs.Transfer of minority Equity Ownership Approach Privatization may be defined as the transfer of minority equity ownership of public enterprises to private individuals and institutions so that the ultimate control continues to remain with the state.Transfer of Complete Ownership Approach Privatization is also used in the sense of sale of all the shares to the private parties so that the public enterprises are converted into private enterprises.In India, privatization is taking place by adopting two common methods viz.,(a) Having fewer controls and regulations by the state in economic activities, and(b) Transferring ownership of state equity in PSUs to private individuals and institutions.Benefits of PrivatizationIt is expected that privatization will ensure the following benefitsIncreasing overall talentImprovement in the quality of management and decision makingNo government financial backing, and therefore, groovy market will compel these enterprises to be more efficientSubstantial reduction in governments budgetary support resulting in reduction in budgetary deficitRecovery of government fund which could more productively be used in development activitiesReduction i n political and bureaucratic interferencesBetter industrial dealing management etc.ShortcomingsThough the PSUs have contributed heavily to develop the industrial base of the country, they continue, even today, to suffer from a number of shortcomings which are identified below very briefly.A sizable number of PSUs have been incur and reporting losses on a continual basis. Consequently, a large number of PSUs have already been referred of BIFRMultiplicity of authorities to whom the PSUs are accountableDelay in implementation of projects submiting to cost escalation and other consequencesunavailing and widespread inefficiency on managementMany PSUs are operating without the leader (i.e., chief executive or chairman)With a view to provide opportunities for more and more unemployed youths, more number of people, than required, were recruited and therefore, many PSUs are over-staffed resulting in lower labour productivity, bad industrial relations, etc.un-remunerative pricing policy and A number of sick companies (40 companies) which were in the private sector was taken over by public sector mainly to protect the employees. These sick units are causing a big drain on the resources of the state etc.Methods of PrivatizationThere are four important modes of privatization. They areFranchising, (b) Contracting, (c) Leasing, and (d) Disinvestment.In India, disinvestment of government share of equity in PSUs is predominant. It started in 1992 immediately by and by the New Economic Policy in a phased manner. The main denunciation of disinvestment of shares of PSUs in India is that it has been partial and half-hearted. There seems to be no plans to disinvest completely. The government still would like to keep a dominant control. 39 companies have been proposed for disinvestment till 1995-96. All the companies proposed for disinvestment are central PSUs. No state take PSU has been proposed for disinvestment. It could only disinvest 1% to 35% shares of PSUs on an average. It is also notice that the shares of efficient and profit-making companies are disinvested more than the companies which are potentially sick or sick companies. The disinvestment percentage is also not much in loss-making and ineffectual units, thereby defeating the purpose.The Finance Ministry has also explained that the government is consciously not off-loading larger chunks of its holding. The Rangarajan Committee has suggested that government holding in public sector undertaking mustiness be less than 50%. But partial disinvestment will be of no avail to change the culture in the public sector undertaking.Future Plans of GovernmentThe following are the future plans of governmentStrengthening strategic units,Privatizing non-strategic units by (1) Gradual disinvestment, and (2) Strategic sale, andDevising fitting rehabilitation package for weak units.ConclusionThe privatization process launched with all sincerity after the announcement of New Industrial Policy, 1991 was a fa ilure. The state must accept this and take necessary steps either to privatize or to improve the efficiency and performance of PSUs.GLOBALISATIONIntroductionThe expansion of economic activities across political boundaries of nation states. More important, perhaps, it refers to a process of increase economic integrated and growing economic interdependence mingled with countries in the world economy. It is associated not only with an increase cross- border movement of goods, services, detonator technology development and people but also with an organization of economic activities which straddles national boundaries. This process is driven by the lure of profit and nemesis of competition in the market.The term globalisation as such denotes modification of national economy with that of the world economy. It is conversion of a national market into international mobility of factors of production. In others words, it may be described as the consolidation of national economy with th at of global economy.An important attribute of globalisation is the change magnitude degree of openness, which has three dimensions, i.e. international trade, international investment and international finance. According to ball Development publish, Globalization reflects the progressive integration of worlds economies.The manifestation of production includes spatial reorganization of production the interpenetration of industries across borders, the spread of financial markets, and the diffusion of identical consumer goods to distant countries and massive transfer of population across national frontiers.Globalization is a process of reaffirmation of faith in the markets, retaining the character of independence of a country. Here, the country follows a pragmatic policy with a shift in decision making from government to business. The market forces and the laws of economics will have greater importance than the political ideology. To make a country a successful partner in Globaliza tion, the government must play a complimentary role.Factors contributing to GlobalizationThe important factors that contribute to Globalization are(a) expert Advances In communicationTechnological advances in communication have made it possible to know in an instant what is happening in different parts of the world. The flow of information and ideas, boosted greatly by the Internet, can enable developing countries to learn more rapidly from each other and from industrial countries.(b) Improvements In Transportation And TechnologyImprovements in transportation networks and technology are reducing the costs of conveyance goods by water, ground and air. This can facilitate the movements of goods. Technological improvements can enable developing countries to leap stages in the development process that rely on inefficient uses of national resources.(c) Other FactorsRising educational levels, technological innovations that allow ideas to circulate, and the economic failures of most cen trally planned economies have also contributed to Globalization.Trends in GlobalizationThe important trends in Globalization are the following world-wide TradeTrade in goods and services has grown twice as debauched as global GDP in the 1990s and the share attributable to developing countries has risen from 23 to 29 percent. There is a compositional shift in trade, which has created a new pattern in the international exchange of goods, services, and ideas. Trade in components is one part of that new pattern. Advances in information technology helps to link firms from developing countries into global production networks. The tremendous growth of trade in services and, more recently, of electronic commerce is also a part of the new trade pattern.(b) International Financial FlowsThere has been increase in international capital flows of developing countries. However, the financial crisis of 1977-99 have put the growing interdependencies among countries in the spotlight and led to inten se scrutiny. Such flows are started to rise again. The financial performance of emerging markets in the 1990s made capital account liberalization an attractive option for developing countries. Many developing countries have began to loosen controls on inflows and outflows of capital.The East Asiatic meltdown has enhanced the attractiveness of long-term capital investment. Countries have started to recognize that foreign direct investment brings with it not only capital but also technology market access and organizational skills. An analysis of the period 1996-97 shows that foreign direct investment was less vapourific than the commercial bank loans and foreign portfolio flows.(c) International MigrationAlong with goods, services, and investment, people are crossing borders in large numbers. According to World Development Report 1999-2000, each tear between 2 million and 3 million people emigrate, with majority of them going to just 4 countries the United States, Germany, Canada a nd Australia. The market for highly skilled workers will become even more globally integrated in the coming decades.At the end of the 20th coke Globalization has already demonstrated that economic decisions, wherever they are made in the world, must take international factors into account. There is acceleration of goods, services, ideas and capital across nation borders.Advantages of Globalization(a) Promise of extend Productivity And higher(prenominal) Living StandardsGlobalization brings in new opportunities such as access to markets and technology transfer. These opportunities hold out the promise of increased productivity and higher living standards.(b) Increase In Trade In Goods And ServicesThere is tremendous growth in trade in goods and services. Trade in goods and services has grown twice as fast as global GDP in the 1990s and the share attributable to developing countries has climbed from 230to 29 percent. Increased international competition in services will lead to reduc tion in prices and improvements in quality. This will increase the competitiveness of downriver industries. Both industrial and development economics will gain by opening their markets.(c) Provide New Opportunities For GrowthFor developing countries, trade is the primary coil vehicle for realizing the benefits of Globalization. Imports bring additional competition and variety to domestic markets, which benefit consumers. Exports, on the other hand, enlarge foreign markets and benefit business. Further trade exposes domestic firms to the best practices of foreign firms and encourages greater efficiency. Trade gives forms access to change capital inputs such as machine tools, which boosts productivity. Trade encourages the redistribution of labour and capital too relatively to more productive sectors. It has contributed to the ongoing shift of some manufacturing and services activities from industrial to developing countries, providing new opportunities for growth.(d) Globalization of Financial MarketsGlobalization of finance markets affects development because finance plays an important role in economic growth and industrialization. Financial Globalization affects growth in two ways. First, it increases the global supply of capital. Second, it promotes domestic financial development and hence, improves allocative efficiency, creates new financial instruments, and raises the quality of baking services.(e) Increased Flow Of foreign Market CapitalGlobalization leads to increased flows of capital across countries. Flows of foreign capital offer substantial economic gains to all parties. Foreign investors diversify their risks outside their home market and gain access to profitable opportunities through out the world. Economies receiving inflows raise the level of investment. When there is foreign investment it is generally accompanied by management expertise, training programs and important linkages to suppliers and international markets.(f) Impact on PovertyThe fast growth and overall development resulting from liberalization, increased flow of trade ad capital could have a major impact on poverty. It is probable to reduce the number of people living in absolute poverty.(g) Increase The Level Of Interdependence And CompetitivenessGlobalization is supposed to accelerate and increase the level of interdependence and competitiveness among nation. It is a change from plan to market. As a consequence, markets for merchandise trade are expanding, more and more service are being traded internationally, and capital is flowing in quicker and progressively diverse ways across countries and regions. There is increasing integration of countries into World markets for goods, services and capital. In short, Globalization widens and intensifies international linkages in trade and finance.(h) generate Domestic Firms To Improve TechnologyThe better technology brought in by the MNCs may induce or provoke the domestic firms to absorb same technology. Thi s may improve their competitiveness and expansion.Disadvantages of GlobalizationThe universal acceptance of the market economy and the Globalization led by private enterprises tend to have some harmful effects on the economy of developing countries. They are discussed belowTakeover of National FirmsThere are a large numbers of cases of takeover of national firms by foreign firms. In some cases, the domestic firms had to handover the majority of equity to foreign partners of joint ventures due to their unfitness to bring in additional capital.Ruin of Traditional Crafts And IndustriesGlobalization has lead to replacement of traditional and indigenous products by modern products. This has resulted in the dash of traditional crafts and industries and the livelihood of the people depended on these sectors.Brings InstabilityGlobalization sometimes brings instability and unwelcome change in the economy. It exposes workers to competition from imports, which can jeopardise their jobs. The inflow of foreign capital into the country through Globalization may undermine banks.(d) Widens The DisparityGlobalization will widen the disparity between one who are associated with market and one who are not. With the expansion of trade and foreign investment, the gaps among the developing countries will widen .it has brought in increased income inconsistency in many industrial countries .it is argued that the developing countries and the poor people are not in a position of achieving benefits from Globalization. The only beneficiaries of it are the authentic countries and the MNCs.Growth rate of Indias real GDP per capitaPer Capita GDP of South Asian Economies.Estimates of the Per Capita Income of India.CONCLUSIONEconomic liberalization has increased the responsibility and role of the private sector. At the same time, it has reduced the control of the government on economy affairs. It is expected that the reforms would liberalize the Indian economy enough to create a conducive environment for rapid economic development. The Ninth Five yr Plan, therefore, rightly observed, The conditions that exist today, demand a decisive break from the past. The government has taken on itself too many responsibilities with the result that it not only encouraged a dependency syndrome among our people, but also imposed arduous strains on financial and administrative capabilities of the government.Private initiative whether individual, collective or community-based forms the essence of the development strategy articulated in the plan.The process of reforms tally to many economists and social scientists is not fast enough to achieve the goals. Jeffrey Sachs, manager of Harvard Universitys center for international development and a noted economist, pointed out that the reform process in India had a long way to go. He feels that without a focus on the twin pillars of social and economic strategies, the future would be bleak for India, especially in the context of competit ion all around.Liberalization process is on the slow track. Government is expected to reduce and last give up its involvement in economic matters and play a major role in providing the required socio-economic infrastructure. The government, however, is reluctant to give up its role of owning and controlling economic activities. At the same time its softness to spend for providing minimum health and education services. It is eager to spend on higher education without spending enough on primary and lower-ranking education. It has failed in providing a corruption free administration, an essential precondition for increasing com

The Effects of Teen Pregnancy on Children Essay -- The Adverse Effects

There are many obstacles for children of teenage mothers to face. These children have serious disadvantages in contrast to those children who come from nuclear families. Often they lack a give figure, have a high poverty rate, and there are incidents of first and mental health problems. Many people are blaming the sex nurture programs in schools and the additional federal aid being offered to single parents as major military campaigns for the countrys high rate of teen pregnancies (Carole). Although, the authoritative purpose of sex education and federal aid is to help clear the mother and child so they can suitually lead rich lives.The lack of a produce figure in the home is the cause of many major problems, which builds into a chain reaction. The child may take over emotional problems when there is no father present these problems may be hazardous to their future. Many children tend to be effected mentally because these all-powerful emotions have the potential to d o permanent damage to the childs life. Children who do not have a father present in the home often feel unloved. Parental rejection is a very traumatizing event in a childs life. Children who lack a father figure in the home may experience sadness and depression, high-pressure behavior, frequent illness, difficulty in school, eating problems, and sleeping disorders (Jacobs). Males and fe staminates are unnatural differently by the absence of a father. To be able to understand how to become a man, a boy needs a male role model in his life. Oftentimes, children choose unpleasant characters to mold themselves after if they do not have a good role model. Males that arrest up in one-parent homes may gain negative personality traits like immaturity, laziness, and disrespect f... ...en resort to drugs and crime as outlets. These outlets lead to dead-end jobs, jail, and sometimes early death for single parent children. Many of these children end up having kids of their own at a n early age therefore carrying on the ferocious cycle of poverty, poor education, joblessness, and lack of hope for the future.BibliographyCarole, Morgan, George N. Chapar, and Martin Fisher. Variables Associated With TeenPregnancy. Adolescence. June 1, 1995 NA. Electric Library. Archbold participation Library. 19 March 2015.Jacobs, Joanne. Children Who Are Having Children. San Jose Mercury News. Apr. 2, 1989 7C. SIRS Knowledge Source. Archbold Community Library. 19 March 2015. Young, Tamera M., et al. Internal Poverty and Teen Pregnancy. Adolescence. Vol. 36 (Summer 2001) 16. EBSCOhost. Archbold Community Library. 19 March 2015.

Essay --

Legalizing Marijuana This found plant is cognize as marihuana it is recognized all around the world. This plant is known to be a drug/herb that gives people high and is also illegal in almost e truly location part of the world. Some nations are very strict when it comes down to enforcing the law when others are very lenient. Marijuana is known to be an addicting substance that set death but what they dont know is that marijuana is used to cure people in resources no others understructure find. A plant that has been said to non only cause illusion and memory loss but being able to function in aid people with cancer and aids. Today there is calm down more and more people who are deciding on getup with pro marijuana legalization for America. Citizens that neer gave marijuana legalization a plain in thought or are just heavy against it are beginning to believe that legalizing marijuana would prove instrumental for the joined States. There are plenty of reasons why there are many a(prenominal) people who support marijuana legalization and one basic reasons is the eudaemonia of marijuana being a medicinal drug. Even some states in America have already legalize using marijuana for aesculapian purposes only, while many have not done so centennially. different countries such as Canada have already allowed medical marijuana be used. The fact in states and other nations allowing the use of marijuana to be for an historic aspect such as medicine making the drug legal. in particular since it hasnt caused any harmful problems being used that way. Marijuana is a medicine that can relieve pain for users along with other special benefits. Marijuana has been known as a strong and important progeny in the government later in these years, deciding whether or not marijuana should be leg... ...ted based on the assumptions people use and what can directly impact the United States in a positive way. large number need to open up their eyes and stop being inn ate on the capabilities a drug can prove to be helpful and the fact that marijuana being legal would help the United States in dire help. People that are against it have not once looked into the benefits it switch and may never will. We all tend to seek recreation in our life every day and everyone has their own way of achieving that. For some, that source of enjoyment is marijuana and all they want to end up doing is gain pleasure like others do, but we should all be who we want be no matter how people take life whether its in field pansy but all we know is that its best to enjoy life and in harms way. Never in my life have I once heard a problem that is caused by marijuana and that is because it has never happened.

Enormous Changes at the Last Minute: Postmodern Humanism :: Grace Paley Enormous Last Minute Essays

considerable Changes at the Last Minute Postmodern Humanism in the terse Fiction of Grace Paley(1) On the jacket of her second book of pithy stories, Enormous Changes at the Last Minute, Grace Paley, a feminist, postmodernistist, antiwar activist, and writer, identifies herself as a somewhat combative pacifist and cooperative anarchist. In 1979, she was arrested on the etiolated House lawn for demonstrating against nuclear weapons, and her rsum is full of such protest-related arrests. Paleys line of solid grounding in a 1998 interview with the online magazine Salon is typical whatsoever your calling is, whether its as a plumber or an artist, you have to contrive sure theres a little more justice in the institution when you leave it than when you found it. Paleys prevarication expresses similar sentiments but in rather subtle ways. Women in her short stories do not get arrested for protesting instead, they ensure their aging fathers in the hospital. (2) Paleys concern for justice appears in her short fiction as a postmodern humanism that toys itself out in the establishment of storytelling, reality-making communities.In Toward a Concept of Postmodernism, Ihab Hassan schematizes postmodernism in opposition to modernism. This consume of the catchwords he identifies gives us a window into the project of postmodern theorists Antiform, Play, Anarchy, Decreation/Deconstruction, Antithesis, Absence, Dispersal, Anti-narrative/ trivial Histoire, Indeterminacy (591-2). Postmodern writers, then, play with language, experiment with narrative fragmentation, introduce antecedently ignored voices, borrow heavily from both popular culture and introductory literature, and generally break boundaries. How can we classify Paley as a postmodern writer if an ethical framework underlies her writing? Shouldnt she be trying to rede reality and expose the meaninglessness of the American experience? Of course, no work or writer fits perfectly into postmodernisms theoretica l agenda. For that matter, the very establishment of an grim definition of postmodernism is antithetical to its self-proclaimed turn away from the rigidity of modernist thought. For students of postmodernism this can be a maddening maze of deconstruction that eventually leads to the extinction of the subject field of literature. If, as radical deconstructionists might argue, our language systems and understandings of reality prove to be valueless, the scholar of literature is left with little to do, as is the social critic. It is for this reason that Hassan writesThus we can not simply rest-as I have sometimes done-on the assumption that postmodernism is antiformal, anarchic, or decreative for though it is indeed all these, and despite its fanatical will to unmaking, it also contains the need to discover a unitary sensibility (Sontag), to cross the border and close the gap (Fiedler).