Different Cultural Identities Dilemma Essay

The memoir Farewell to Manzanar, written by Jeanne Wakatsuki Houston, tells of her experience at Manzanar internment camp after the Pacific War broke out. During the internment of Japanese-Americans, their living standards fell drastically; moreover, they faced Japanese and American values and identity conflicts. It was hard for these Japanese Americans to maintain two different cultural identities for several reasons. In the first place, they suffered from racial discrimination. In the 1940s, mainstream society and the government discriminated against Japanese Americans who were viewed as potentially dangerous people who might betray the US. Thus, Japanese Americans found it was hard to be accepted by others in America. In addition, they largely insisted on their own cultural identities. They were not willing to give up Japanese identities after arriving in America. Chinese immigrants would like to get together and formed Chinatown for the same reason. In the article, â€Å"Two wor lds, one family,† Jen Maldonado was imposed on pressure by her Taiwanese friends who insisted on Chinese culture, when she wanted to develop a cross-cultural relationship with an American. It is hard to successfully balance two different cultural identities because of racial discrimination and the adherence to people’s former culture as will be shown using evidence from Farewell to Manzanar, â€Å"Two worlds, one family† and my personal observations. In the 1940s, Japanese-Americans suffered from racial discrimination; thus, they had a hard time getting into mainstream society and balancing their cultural identities. The government never showed full trust towards these immigrants who were viewed as threats to American national security. In order to supervise Japanese-Americans and prevent any potential danger, the government relocated Japanese Americans to internment camps, which exacerbated cultural conflicts and undermined basic human rights. The racist decision that the government made led Japanese Americans to feel that they were incompatible with American culture. Because of the racial discrimination the government initialized, many Japanese immigran ts thought they were insulted, and so they struggled to accept their American identities. Some of them even wanted to get rid of American identities and went back to Japan. As a result, racial discrimination threatened their American identities. Houston and her friend Radine shared many qualities in common and became the best friends. Although they were socially equal, they were treated in completely different ways because of racism. Houston was not culturally accepted by mainstream society as Radine was. Boys were more likely to ask Radine to the dances, even though they flirted with Houston. Houston was barred from sororities, but Radine was admitted to join them. Houston said that, â€Å"Watching, I am simply emptied, and in the dream I want to cry out, because she is something I can never be†(172). Houston never stopped attempting to retain American identity; however, prejudice of her oriental characteristics obstructed her effort. She looked forward to fulfilling her American identity, but she was too helpless and powerless to challenge enormous racial discrimination, Other than prejudice against Japanese-Americans, another reason that caused people from different cultures to struggle to balance two cultural iden tities was adherence to their own culture. After arriving at the continent and staying there for years, many Japanese immigrants still considered that they were more Japanese than American. They were not willing to give up their own culture, and so they confronted cultural conflicts. A minority of people in the camps labeled members of the Japanese American Citizens League â€Å"inu† for â€Å"having helped the army arrange a peaceful and orderly evacuation†(67). â€Å"Inu† meant collaborator or informer in Japanese. The hatred towards these pro-American Japanese immigrants and disrespectful insult words revealed their strong belief in Japan and hostility towards America. To people’s surprise, the author’s father who stood up to defend the point of view that immigrants should be loyal to American government was assaulted and condemned by his peers. Although these pro-Japan immigrants had been in America for many years, they still insisted that they were more Japanese. It was the thought that some Japanese Americans were not capable of integrating into American culture and balancing two identities. Chinatown exemplified that Chinese immigrants insisted on their own culture. Chinese immigrants were viewed as a group of conservative and un-American people after they first came to America. They showed keen interests in preserving Chinese culture, but they would not adapt themselves to American society. Therefore, their refusal to give up Chinese identity led to their isolation and failure to balance two cultural identities Their adherence promoted the formation of Chinatown, a Chinese world in alien countries. In the article, â€Å"Two worlds, one family,† â€Å"Jen’s Taiwanese friends started giving her grief for dating an American.† They were strict about Chinese culture and rejected the cross-cultural marriage. Jen was also warned that she â€Å"‘needed to stick with someone from her own culture.'† By this, her friends hoped that Jen could retain her Chinese identity by narrowing down her dating range. However, many cases had proven that the cross-cultural marriage played an important role in balancing different cultura l identities. When people with different cultural backgrounds decide to form cross-cultural families, they build a bridge of cultural communication. Thus, her friends’ thoughts undermined cultural exchange. To conclude, it is hard to successfully balance two different cultural identities. Racial discrimination stopped Japanese Americans from balancing their cultural identities. In the wartime, the mainstream society held hostility towards these immigrants, and so they were isolated by the majority. Moreover, some people’s adherence to their former culture became the obstacle of integrating into American society. Chinese always struggled to have cross-cultural communications proceed effectively and successfully due to their insistence on Chinese identity. In the article, â€Å"Two worlds, one family,† Jen was hoped that she could date Chinese persons by her friends. However, their insistence seemed to be stubborn because it blocked effective communication between people from different cultural backgrounds. In order to balance two different cultural identities, people should be more lenient with newcomers and more open to new culture.

Tenure system

The term of office system provides faculty member stableness and a signifier of womb-to-tomb employment. Geting term of office gives a individual entree to certain fiscal and societal benefits. Furthermore, it gives a figure of freedoms and possibilities in the academic domain. From the start, the attitudes toward term of office were controversial. Hems et Al ( 2001 ) gnaws at the issue of term of office from two different waies. On the one manus, the writers stating that this system â€Å"harbors unproductive faculty† ( p.322 ) , while, on the other manus, they did non detect any connexion between â€Å"decreasing productiveness and term of office and even concluded that those faculty members possessing term of office were working more efficient† ( p.322 ) . Presents, the prevalent attitude towards term of office is positive because it provides more â€Å"freedom for the faculty† ( Bess, 1998, p.4 ) , through womb-to-tomb employment, which gives the possibility for professional development and inventions. At the same clip, the fright of module members going â€Å"deadwood† ( Bess, 1998, p.4 ; Hems et Al, 2001, p.322 ) and pretermiting their duties remains. Furthermore, there is a belief that term of office slows down and even restrains the procedure of academic development. Therefore, alterations are being proposed to the system such as â€Å"limited term of office at Tohoku University or alterations to the term of office policy at the University of Minnesota† ( Hems et Al, 2001, p.323 ) . Wood & A ; Johnsrud ( 2005 ) call term of office â€Å"an artefact of the values and premises of academic culture† ( p.394 ) . Harmonizing to this definition civilization of the module has a important topographic point in the procedure of acquiring term of office.Attitudes towards term of office and attacksWhile analyzing attitudes towards term of office and attacks, one should take two points of position towards civilization and socialisation in general and its topographic point in the academic society in peculiar, modernist and postmodernist point of views. Harmonizing to the modernist point of position, â€Å"an organisation ‘s civilization teaches people how to act, what to trust for, and what it means to win or fail† ( Tierney, 1997, p. 4 ) , in this instance an single adopts stable regulations, which exist in a society ( module ) . However, the postmodernist position of civilization is a â€Å"give-and-take† ( p.6 ) , one, which means that a individua l come ining a group and adopts its regulations and forms lending to the group ‘s civilization. In the domain of attitudes towards tenure the foregoing attacks shapes two different points of position. Modernist attack towards term of office is the most common one and is chiefly expressed in the manner people describe their work, for example, â€Å"the competition about the sum of working hours† or â€Å"the figure of publications one should hold in order to acquire tenure† ( Tierney, 1997, pp. 8-9 ) . On the other manus, postmodernist attitudes towards term of office can be seen through personal an involvement, which shapes the work of those willing to be granted term of office.DecisionMaking a decision for the research Tierney ( 1997 ) , understanding that the bulk of â€Å"individuals were able to subsume personal dispositions in favour of the modernist end of absorbing to the civilization to which they were being socialized† ( p.13 ) . Two chief domains define either modernist or postmodernist attitudes of the module towards term of office. The modernist attack dominates in instances where research work, which is seen through the sum of publications, is the chief standard for allowing term of office. Conversely, the postmodern sphere topographic points accent on learning. Faculty is most comfy with term of office but understands that there is room for extra alteration to the system ; nevertheless, post-tenure reappraisal has led to a figure of intense dissensions.Post-tenure reappraisalPost-tenure reappraisal is a â€Å"systematic, comprehensive procedure, separate from the one-year reappraisal, aimed specifically at measuring public presentation and/or fostering module growing and development† ( Wood & A ; Johnsrud, 2005, pp. 394-395 ) . This is one of the methods to avoid â€Å"deadwood† ( Bess, 1998, p.4 ; Hems et Al, 2001, p.322 ) module members ; the establishment must continue the highest degree of efficiency to those being given term of office. The new system of reappraisals can be efficient merely if they are conducted often. The research conducted after the â€Å"implementation of post-tenure reappraisal shows that productiveness did increase† ( Hems et Al, 2001, p.324 ) . Still, the new system is a really problematic topic and has gained negative attitudes from the academic society. The treatment of post-tenure reappraisals is concentrated on a figure of subjects: the degree of freedom which module has with the reappraisal, the impact of term of office on efficiency of module ‘s work, and those responsible for reexamining module. Foreigners conduct post-tenure reappraisals, in bend ; the module considers this as an break of their academic work, and sees this as a restriction of their academic. The type of reappraisal supported by faculty members is â€Å"peer-to-peer† ( Wood & A ; Johnsrud, 2005, p.410 ) . The negative influence of term of office is argued, and, it is stated that non tenure itself but some features of the system are more influential. The influence of post-tenure reappraisals on the full academic universe is the subject being discussed the most. These reappraisals works as limitations of the freedom of instruction, and hence, faculty members are being deprived from the chief advantage granted by the system. By and large, term of office and post-tenure reappraisals have their advantages and disadvantages, which give a topographic point for the treatment of their efficiency. Tenure, which is an old system, and is being blamed for the decrease of the module ‘s work efficiency ; those with term of office are blamed for losing productiveness and general disregard of their responsibilities. Nevertheless, term of office itself, as a system, possibly the cause of the job, at the same clip, the modernist attack towards term of office may be the ground of the system ‘s unfavorable judgment for the motive. Understanding, non the term of office system itself but some of the qualities within the system are responsible for the decreasing efficiency of academic society. Post-tenure reappraisals, though, on the one manus, are able to â€Å"remove non-performing faculty† ( Wood & A ; Johnsrud, 2005, p.413 ) and, on the other manus, it is a menace to the academic universe. Post-tenure reappraisals can be the agencies of the intervention in the educational procedure, hence, destroying the freedom of learning. While term of office provides the module with extra support benefits, post-tenure reappraisals are able to eliminate them. The inefficiency of the term of office system has led to creative activity of post-tenure reappraisals. Still, as the reappraisals have led to a het argument, alternate ways of controling those with term of office should be farther studied.MentionsBess, J. L. ( 1998, January/February ) . Contract systems, bureaucratisms, and module motive: The likely effects of a no-tenure policy. Journal of Higher Education, 69 ( 1 ) , 1-22. Helms, M. M. , Williams, A. B. , & A ; Nixon, J. C. ( 2001 ) . TQM rules and their relevancy to higher instruction: The inquiry of term of office and post-tenure. The International Journal of Educational Management, 15 ( 6/7 ) , 322-331. Wood, M. , & A ; Johnsrud, L. ( 2005, Jumping ) . Post-tenure reappraisal: What matters to faculty. Review ofHigher Education, 28 ( 3 ) , 393-420. Tierney, W. G. ( 1997, January/February ) . Organizational socialisation in higher instruction.Journal of Higher Education, 68 ( 1 ) , 1-16.

The Growth Of Cell Phone Use - Free Essay Example

Sample details Pages: 2 Words: 668 Downloads: 2 Date added: 2019/08/16 Category Technology Essay Level High school Tags: Cell Phone Essay Did you like this example? The growth of cell phone use among adults, teens, and children has grown so much so, that it has become american culture. Phones have become part of our everyday lives. Mobile phone ownership has increased tremendously. In a recent study, 95% of americans have some kind phone. And that 75% of americans have a smartphone,up from just 35% in a survey in 2011.The popularity of these devices have affected modern life in manys ways. Good and bad. Through the use of cell phones, we can do so much. From talking with someone miles away, or entertaining yourself by watching videos. But the reason that most people have cell phones is that we can keep in touch with anybody we want. Whether its your neighbor, or your great aunt who live across the country. We can communicate with anybody. There is so much more we can do with it, for example, using GPS, entertainment, music, sending pictures, etc. Don’t waste time! Our writers will create an original "The Growth Of Cell Phone Use" essay for you Create order There is no doubt that these gadgets are very useful, and they do help our everyday lives. But like in most things, there are pros and cons to it. Some cons of using cell phones are that it can give you lack of sleep, put you in dangerous situations, give you health risk, a distraction from the world, and more. With about 6.8 billion people with phones, this impacts our society a lot. Making our society rely on our phones 24/7. There was clever experiment that MIT did with teen and adults. Professors made giving up smartphone for a day a requirement of the students in their courses. Most of the students, who could plan what day theyd give up their phones, felt some degree of anxiety. They didnt know what to do with the extra time, from eating breakfast to riding on public transportation. One average american checks their phone about 80 time a day. Some even 300 times. We hear a lot about screen time and how bad it is for us. But, at the end of the day, everybody needs them for their own use. What was on a desktop computer, is now in our pockets. But things still dont change, phones are still bad. What we can do, is limit our use of using our phones. There are many different approaches to reducing our use. Some people actually take a method called digital detox. Which are just a number of days of tech-free world. A device holiday if you may call it. Others download apps to limit their use. These apps limit your use by blocking access to distracting applications like games or social media. But still leave the necessary apps, and still give time to the other apps so you do have something to enjoy after a long day. But like most people, we dont want to limit ourselves that much we are bored all day. Some tips on limit ourselves are; instead of using a phone as a alarm, use an alarm clock and charge your phone somewhere else before you go to sleep. Thi s will less tempt you to check your phone at night or in the morning. Next is not check your phone at the table. This will make you more social and not look at your phone while talking to someone. And finally is that make plans in advance. Create a schedule about what your going to do and watch so you can better plan when you should study, and do your other important task. Mobile phones are a vital piece of most children and adults lives. There are certainly many flaws and cons about having one but on the other hand, there are so many benefits of having one. In conclusion there are pros in cons to having a mobile phone. Whether you use these facts to make your decision on getting one or buying a new one, is entirely up to the buyer. However you feel about these devices, they are always going to be here, and play a very prominent role in our daily lives.

School Attendance A Safe Place For Students Essay

For centuries, schools have been known as a safe place for students to obtain proper education. However, as time has past more safety issues in schools have arisen throughout the globe. With schools falling on a decline quickly, more work needs to be done in order to provide safe places dedicated to learning. Doing this will benefit students, parents, and teachers extraordinarily. While safety in schools today is extremely important, it also influences all students in educational, social, and emotional ways. Attendance in school is a major factor in the safety of schools today. When students feel unsafe inside a school building, they are much less likely to attend. On average, nearly five to seven and a half million students miss nearly a month of school each year (â€Å"Facts about School Attendance† 1 ). Danger within schools can be evident, however it can also be created behind the scenes- hidden from the standard eye. Bullying, harassment, student insecurity, and discrimination also impact how safe a student feels at school. Experiences like these are often the opposite of pleasant, leading to many students not wanting it to continue. A leading cause of chronic absence is due to students feeling that the only way they can escape daily harassment, is not attending school. Lack of school attendance is a major issue, due to the fact that every day of school counts. When students miss consecutive days of school, they will fall behind their classmates. Workload will pile up,Show Mo reRelatedEffectiveness Of After School Programs1576 Words   |  7 PagesDue to after school programs receiving public funding, questions arose as to if after school programs were effective. Effectiveness of after school programs, and funding is now measured by academic improvement of students who attend after school programs. Data on the effectiveness of after school programs have conflicting outcomes. 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The Run Down on Help with Research Paper Essay Exposed

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Fundamentals of Corporate Finance Theory and Practice

Question: Discuss about the Fundamentals of Corporate Finance Theory and Practice. Answer: Introduction: The company selected for this task is Nick Scali Furniture which is listed on the stock exchange under the symbol of NCK. The company tends to import premium furniture and engage in the retailing of the same. Currently, the company has limited presence only at selected locations across Australia but the company in the near future aims to expand its operations and presence across more locations (NCK, 2015). In the wake of the future growth that the company expects, the role of CFO is of particular importance and cannot be overemphasised. The three main responsibilities that the CFO of NCK is expected to discharged are briefly discussed below. Investment Opportunities and Capital Budgeting In relation to the existing business model of the company, two factors are pivotal for the sustained success of the company. One is to select reliable vendors globally which can supply high quality furniture to the company and second is retailing of the same to the customers through a host of distribution channels. Currently the company sources furniture from Asia and as the business grows, it would be imperative for the company to scout for new opportunities from where the furniture could be bought from (NCK, 2015). Typically, this would require significant investment in the backend furniture value chain particularly at the end of the Asian vendor so as to assure that the company is able to get access to quality products. In this regard, there are a plethora of cost considerations as multiple factors are at play. For instance, the raw material availability and cost, availability of skilled labour, labour norms along with exchange rate fluctuations, underlying transport cost need to be considered by the company in order to choose vendors for the future. In this decision making, CFO plays a key role as he is aware of the various cost centres that contribute to the overall cost and ensures that these are built into the decision making process (Bhimani et. al..,2008). An additional requirement for the companys success is retailing. Although, the company does engage in e-retailing but considering the target segment that the company is targeting, it is imperative for the company to enhance its present in terms of retail stores. This is a strategic decision for the company which involves significant inputs from the CFO. The opening of new stores is a sizable capital investment for a company of the size of NCK (NCK, 2015). Hence, intense deliberations need to be carried put before narrowing down on a prospective location. Further, the estimated costs and revenue flow expected from the store would also be estimated based on the given information and empirical understanding of the business. Further, it is quite possible that the company may narrow down on multiple locations for setting up a retail store with all expected to create value for the company (Drury, 2008). However, the financial resources available with the company may be typically constraine d and hence under the aegis of the CFO capital rationing would be required so as to select on the most viable investment alternatives. Considering the high elasticity of the business, a sensitivity analysis of the prospective locations is also done in order to narrow down the choices and ensure a prudent choice be made (Petty et. al., 2015). Besides, it is also possible that the company may scout for some small acquisitions in the future in order to either gain presence in a new market or for backward integration. With regards to the due diligence of these acquisitions and the actual financing of these acquisitions, the role of CFO is integral and the success of these endeavours would depend on the business acumen, experience and knowledge of the CFO (Parrino Kidwell, 2011). Accounting and Reporting As a listed company, in case of NCK, segregation of owners and managers tend to exist which gives rise to the formation of an agency relationship. In order to safeguard the interest of the principal, the agent or the managers should continuously report the financial and operational performance to the owners so as to ensure that they prudent investment choice with regards to continuing their investment (Drury, 2008). Also, it needs to be considered that the company is a listed entity and hence needs to comply with regular reporting requirements as highlighted in the respective listing agreements of the stock exchanges. Further, this needs to be reported in a timely manner and at the same time should be compliant with the relevant accounting norms which is the responsibility of the CFO (Bhimani et. al., 2008). The CFO tends to be in regular touch with the audit committee of the company so as to understand the various loopholes that exist in the internal controls put in place by the company and ensures that requisite corrective measures are taken so as to ensure that the underlying risk of misreporting is minimised. Additionally, the tax liabilities of the company need to be prudently recorded considering the mode of sales and the value of imported furniture from abroad (Brigham Ehrhardt, 2013). Also, the impact of exchange rate is particularly significant for the shareholders of the company as the furniture is imported from Asia and hence currency fluctuations tends to have a direct impact on the underlying profitability of the business operations. The CFO ensures that these are reported correctly and also ensures that requisite hedging mechanism be put in place so as to deal with current risk (Brealey, Myers Allen, 2008). Additionally, the CFO acts as a chief coordinator to the external auditor and ensures that all the requisite information and support is made available to the external auditor so that the audit process is conducted smoothly and in a timely fashion. Besides, general overview of the companys operations, risk factors and the performance enables the auditor in making robust audit plans and resulting strategies (Seal, Garrison Noreen, 2012). Corporate Strategy Control The corporate strategy is the basic framework on which the companies operations are based so as to achieve the goals and objectives. In the process of corporate strategy formulation in wake of the competitive and dynamic business environment, the CFO plays a key pivotal role as he exploits his experience and superior financial skills so as to realistically present the likely financial implications of pursuing various options. This is particularly of significance for a company like NCK which operates in a highly elastic product segment and hence the business fortunes would be highly susceptible to the underlying economic trends (Brealey, Myers Allen, 2008). The CFO also tenders advice to the board with regards to any strategic alliances of acquisitions that may be value accretive for the shareholders. Additionally, since CFO is responsible for management of financial resources, hence his support his critical so as to ensure that the requisite resource allocation is done for a given p roject (Brigham Ehrhardt, 2013). The CFO also plays a crucial role with regards to erection of various benchmarks that act as milestones for ascertaining the performance of the various key executives. He/She also plays a critical role in the budget exercise which tends to spell out the key priorities of the company and acts as a potent tool to establish control over operations by limiting the availability of capital only for those projects that are considered value accretive by the management. Also, the CFO needs to meet the financing needs of the company so that the company has funds both for meeting working capital liabilities and also for setting new retail outlets (Bhimani et. al., 2008). Significance for objectives The role of CFO is a crucial one for the overall success of the company which is apparent from the responsibilities undertaken by him/her. The first step in this regard is to set a corporate strategy which is capable of achieving the companys vision and the objectives set by the management. Based on the corporate strategy, the various benchmarks are put in place which the key executive are expected to meet in a time bound manner. These benchmarks tend to be variable in nature and driven by a plethora of factors. The resource allocation is carried out under the aegis of CFO keeping in mind the budgetary allocations (Brigham Ehrhardt, 2013). Further, to achieve sustainable growth, it is imperative that the company enhances its presence which typically would require capital rationing and would to an extent be driven by the underlying preferences in whose determination, CFO would play and active role (Bhimani et. al., 2008). Also, it is the duty of CFO to ensure that the operational and financial performance of the company is disseminated to relevant internal and external stakeholders in a timely manner (Drury, 2008). To critically examine the given statement, the preliminary step is to discuss the efficient markets concept which is aptly represented in the form of Efficient Market Hypothesis (EMH). In accordance with the EMH concept, market efficiency exists primarily in three forms. The weak form of market efficiency hypothesises that the stock price movement is essentially random in nature and has no linkage with the past prices. Further, it is driven only by the information entering the market and technical analysis as an investment technique would fail (Petty et. al., 2015). The semi-strong form of market efficiency hypothesises that there is no utility of tracking stock specific information as any new information tends to get captured by the prices almost in an instantaneous matter and thereby does not provide opportunities to the market participants to derive gains based on this (Damodaran, 2008). The strong form of market efficiency hypothesises that the market price of the stock equals th e intrinsic price which is indicative of the all stock specific information and therefore there is no role for fundamental analysis as the stocks do not deviate from their intrinsic prices and any minor deviations are corrected automatically (Brealey, Myers Allen, 2008). If the capital markets become efficient and display features shown above, it seems that the statement that the pension fund manager could select the stock with a pin may be true. This is because the empirical prices of the stock are not significant for initiating any trades as the future prices are not linked with past prices. Also, the information about individual stocks is also equally futile because by the time the pension fund manager is in a situation to react to the news, the entire impact of the news has already been reflected in the price of the security. Thus, it makes sense for the pension fund manager to act as a passive investor in such scenario (Parrino Kidwell, 2011). However the following two factors also need to be considered before reaching a final conclusion. The investors in stock market are exposed to two risks i.e. systematic risk and unsystematic risk. The systematic risk cannot be eliminated through diversification of portfolio but the unsystematic risk can be minimised and even eliminated through portfolio diversification. As a result, it is imperative for the pension fund manager to choose a portfolio which is well diversified so as to atleast minimise the unsystematic risk associated with the investment. Clearly, this cannot be ensured through random selection of stocks and needs active choice of stocks designed towards a specific aim (Brealey, Myers Allen, 2008). Besides, considering that pension fund is directed towards providing a secured income to investors after retirement, hence the stock choices tend to be biased in the favour of large blue chip stocks that may offer limited capital gains but offer sizable dividend income. Hence, the portfolio that the pension fund manager must select should be representative of this objective and hence the stocks would not be chosen with a pin as the portfolio may include high risk growth oriented stocks (Damodaran, 2008). Based on the above reasoning, it may be concluded that the given statement is indeed false. References Bhimani, A, Horngren, CT, Datar, SM Foster, G 2008, Management and Cost Accounting 4th eds., Prentice Hall/Financial Times, Harlow Brealey, R, Myers, S Allen, F 2008, Principles of Corporate Finance, 9th eds., McGraw Hill Publications, New York Brigham, EF Ehrhardt, MC 2013. Financial Management: Theory Practice, 14th eds., South-Western College Publications, New York Damodaran, A 2008, Corporate Finance, 2nd edn, Wiley Publications, London Drury, C 2008, Management and Cost Accounting, 7th eds., Thomson Learning, London NCK 2015, Annual Report 2015, Available online from https://www.nickscali.com.au/media/wysiwyg/pdfs/NS_AnnualReport_2015_Final_LR_1.pdf (Accessed on September 13, 2016) Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd eds., Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications, 6th eds., Pearson Australia, Sydney Seal, WB, Garrison, RH and Noreen, EW 2012, Management Accounting, 4th eds., McGraw -Hill Higher Education, Maidenhead

Lincoln Electric Venturing Abroad

Question 1: What are the reasons behind Lincoln Electric being effective or ineffective? Reason for the company being effective:Advertising We will write a custom assessment sample on Lincoln Electric: Venturing Abroad specifically for you for only $16.05 $11/page Learn More One of the major reasons for Lincoln company success lies in the methodology the company uses to compensate its employees. The compensation system is based on philosophy of development of one potential through a properly defined incentive system. This incentive system was first proposed by the company then CEO James F. Lincoln. The system is comprised of four major factor elements. These elements include, wages that come inform of piece out put where an employee is paid according to the amount of work done. Other factors are end year bonus, limited benefits and guaranteed employment. Another contributing factor credited to the success of the company is the management style and cultur e. The culture at Lincoln Company creates a spirit of team work between the employees and management. The management style in the company is aimed at building sense of trust between the management and employees. Open communication in the company enables the employees to freely share their ideas and express their grievances to the superiors. The company’s financial health is also a factor to the company’s productivity and profits. Reasons for the company’s ineffectiveness:Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Financial troubles: During the 1991 recession in Europe and Japan, saw new companies in these geographical locations make huge loses and effect was responsible for dragging the whole company down. Another factor is that the compensation system in America did not quite apply effectively in other parts of the world simply because there was difference i n culture and ways of operations. Question 2: How did Lincoln firm achieve competitive advantage? The company’s innovative management style, culture and effective incentive system contribute majorly to the firm’s competitive advantage. The firm also maintained a significant cost advantage above its competitors in the post world war II period that saw major competitor withdraw fro the market as Lincoln firm dominated (Porter 22). Question 3: Can Lincoln Company apply the above competitive advantage in a new international context? The company application of its management styles and incentive system in other geographical set ups will not be successful in gaining competitive advantage. This is attributed to difference in culture and management style practiced in these different countries. The company top management realized that it could not utilize the American incentive system to other parts of the world because different cultures had different drive to achieve performa nce. The company can not use the cost advantage either since other international companies have even lower cost in their products than Lincoln firm. However the company can explore end year bonus to its employees abroad to make employees motivated and work extra hard. This will eventually be a source of competitive advantage to the company. Question 4: How has Lincoln competitive advantage been effective and why? Lincoln competitive advantage has enable the company acquire large market share especially in America. It is estimated that Lincoln Company holds 36 percent of a total of 1.5 billion American dollars in welding and equipment supplies making one of the biggest welding company in America.Advertising We will write a custom assessment sample on Lincoln Electric: Venturing Abroad specifically for you for only $16.05 $11/page Learn More This has been possible due to cost advantage utilized by the company that has enabled it gain competitive advantage over its competitors. The company’s culture and management style has enhanced effective communication within the company and encouraged new ideas to be developed. Lincoln competitive advantage has enabled the firm to expand internationally. The guaranteed employment has been helpful to the company even in times of economic hardship. This technique has enabled the firm to still work effectively without laying off workers. Work Cited Porter, Michael. Competitive advantage: Creating and sustaining superior performance. New York: Simon and Schuster Inc, 1985. This assessment on Lincoln Electric: Venturing Abroad was written and submitted by user Jeram1ah to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.