2000 word essay - subject PDAS301 - People, Organisations and

2000 word - subject PDAS301 - People, Organisations and Adminisration - Essay Example S. Pugh, as â€Å"the study of structure functioning and performance of organisations and of the behavior of groups and individuals working in them† (Murugan). These principles provide significant purpose to managers and members of such organizations as well as students of management, business and sociology courses. These principles are moreover, broadly categorised into the classical approach, the neo-classical approach, the modern approach and the post-modern approach. The distinctions among these different approaches lie on the primary focus with which they give importance to. In the classical approach, for example, what is given significant importance are the technical aspects of organizations like formal structures, management, and principles of organisation. Theorists belonging to this approach are Frederick Taylor, Henri Fayol, and Max Weber. The neo-classical approach, on the other hand, gives emphasis on the human aspects of organisations like motivations, behavior and conduct of people involved in the organization. Some of the theorists in this approach are Elton Mayo, Abraham Maslow, Mary Parker Follett and Douglas McGregor. The modern approach, on the other hand, combines the best of both classical and neo-classical approaches by giving emphasis both on the form and structures of organizations and the human factor. Researchers and writers who patterned their research along this model are Chester Barnard, Herbert Simon, and Amatai Etzoini . Finally, the post-modern approach, the least rigid and the most flexible, does not subscribe to any particular form or rule of organizations but stresses that organizations should adapt to internal and external factors surrounding them. Post-modernist theorists are Tom Greenfield, Tom Sergiovanni and Gareth Morgan, among others (Mullins 1999). This paper will examine four theorists representing each of the different organization and management approaches: Max Weber, of the classical approach, and

Tourism Concepts Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Tourism Concepts - Research Paper Example San Diego County is a county located in the southwestern corner of the State of California (San Diego, 2010). It is the most newest and dynamic metropolitan areas in the country America. San Diego has an attraction that can draw people’s attention towards it. The sights and sounds of the city center is the objective of the attraction. With the inland mountains and one of the most beautiful natural harbors in the world, San Diego is a result of years of development and vitalization (Trains Magazine, 2009). The report will be discussing the places of attraction situated at San Diego, the facilities of food, accommodation, and transportation. It will also be presenting the culture, hospitality of people, and the infrastructure of the county. This report will mainly be targeting the tourists and tourism planners. San Diego is considered as one of the most developed and pleasant counties of America. There are many attractive and major sites of interest for the tourists and the tourism planners. Alta Vista Garden is a garden that is established with the theme of bringing together people, nature, and art. The garden is situated on over 14 acres and the admission is free for the public (Kragen, 2009). The garden is a cultural botanical park and provides an interactive method to teach botany and other subjects to the students. The water paths are constructed in such a way that the water falls into natural pools and gives a natural waterfall-look. The other places of interest include Lego land, which is a theme park. It is the only Lego land situated outside of Europe. Lego land has nine main sections, each constructed on a separate theme (Kragen, 2009). Mission Bay is a recreational area includes sea world, and Fiesta Island etc. Mission Bay has sandy beaches spread over miles with a long pedestr ian path. It is the largest man made Aquatic Park in America (National Park Services, 2009). Sea world is famous for

Corporate Governance Disclosures in Emerging Capital Markets

Corporate Governance Disclosures in Emerging Capital Markets THE CASE OF GHANA CHAPTER 1 1.1 INTRODUCTION Corporate governance has dominated the policy agenda in developed market economies since the mid 1990s. The spate of corporate failures and massive government bailouts that have characterised the current global recession has led to an upsurge in the call for tighter regulation of capital markets and more stringent corporate governance. What has become clear from the current global capital markets meltdown is that, as capital markets develop, so too does the complexity of transactions and organisational structures, and the span of inter-dependencies among the various players in the market which extend beyond the boundaries of nations and continents. It is imperative for the stability of the global economy that there is adequate and effective regulation of the various capital markets and that the managers of major companies be held accountable for complying with these regulations and adhering to the principles of good corporate governance. In order for corporate manager to be held accountable for their compliance with regulations and good governance, they must make relevant disclosures in their companies annual reports. Corporate Governance and Emerging Capital Markets The recent international financial scandals have generated increased interest in corporate governance as a means of mitigating financial problems in developing economies (Tsamenyi et al. 2007, Reed 2002, Ahunwan 2002). These problems include weak and illiquid stock markets, economic uncertainties, weak legal controls and investor protection, and frequent government intervention. Developing economies also suffer from poor corporate performance and high concentration of company ownership (Tsamenyi et al. 2007, Ahunwan 2002). They usually suffer from state ownership of companies, weak legal and judiciary systems, weak institutions, limited human resources capabilities, and closed/family companies (Mensah 2002, Young et al. 2008). Reed (2002) noted that, globalization, international trade, and international investment practices call for the development of corporate governance in developing nations. Corporate governance is mechanism for ensuring corporate management acts in the best interest of a companys stakeholders (John Senbet, 1998). If capital markets in developing economies such as Ghana are to become fully established and grow, effective corporate governance regulations need to be developed and implemented. Such regulatory structures should not only be adequate to protect the interests of shareholders but also to assist in boosting the confidence of prospective investors and other stakeholders in corporate activities (Cadbury, 1992). Emerging Capital Markets (ECMs) are an integral part of the global capital market. According to the International Finance Corporation (IFC, 1996), EMCs can be viewed as any market in a developing economy that has the potential for development (IFC, 1996). Such markets compete for investment funds with well developed capital markets and therefore need to put in place appropriate measures to attract business activities. The adoption of effective corporate governance is one such measure. Gompers et al. (2003) assert that, good corporate governance increases company valuations and boosts the bottom line. Along similar lines, Claessens et al. (2002) maintain that sound corporate governance frameworks benefit companies through increased access to financing, lower cost of capital, better performance and more favourable treatment of all stakeholders. Corporate transparency and full-disclosure of information are core attributes of the corporate governance mechanism (OECD, 1999) and are regarded as an extremely important factor in the quality of corporate governance. Further, Beeks and Brown (2006)contend that firms with more effective corporate governance make more informative disclosures. Although corporate governance systems differ across countries, with the development of Codes of Best Practice around the world, there is gradual convergence of corporate governance practices toward global standards (Hopt 1997). Ghana is an example of an emerging economy which is increasingly embracing the concept of good corporate governance and requiring companies to report on their corporate governance practices. Attempts being made in Ghana to promote effective corporate governance include the formation of the Institute of Directors in 2001 and the development of National Accounting Standards. Additionally, the Ghana Securities and Exchange Commission (GSEC) has developed a Corporate Governance Code of Best Practice against which companies can benchmark their practices. Other regulatory requirements which govern corporate conduct include provisions in the Companies Code 1963 (Act 179), the Securities Industry Law 1993 (PNDCL 333) and the Membership and Listing Regulations of the Ghana Stock Exchange. Notwithstanding all of the above measures which are designed to secure good corporate governance by public listed companies in Ghana, the general level of compliance with the requirements is, and has always been, low. A study by Tsamenyi et al. (2007), which investigated corporate governance disclosures by applying a disclosure index to the 2006 annual reports of 22 listed companies in Ghana, found that the extent and quality of corporate governance disclosures were minimal. Many studies have been examined on corporate governance disclosures based on the examination of the content and scope of annual reports information by establishing corporate disclosure indexes (see Meek et al. 1995, Coy and Dixon, 2003). This study is concerned with the information disclosed mostly in the annual reports. Information in the annual report consists of qualitative and quantitative data. The quantitative data is both financial and non-financial. Moreover, many annual reports contain illustrations, diagrams and graphical presentations. 1.2 RESEARCH AIM AND OBJECTIVES Following from the above discussion, the overall aim of this study is to make recommendations designed to improve the extent and quality of corporate governance disclosures by public listed companies in Ghana. In order to achieve this aim the research has the following objectives: to determine the current corporate governance disclosure requirements of listed companies in Ghana; to compare Ghanaian disclosure requirements with those applying to UK listed companies; to examine the corporate governance disclosures made by a Ghanaian listed companies in their 2008 annual reports; to identify the differences (if any) in the corporate governance disclosures made by the listed companies in Ghana studied and the corporate governance disclosure requirements; to ascertain the reasons for the failure by listed companies in Ghana to fully comply with the corporate governance disclosure requirements; to make recommendations on how the quantity and quality of corporate governance disclosures by listed companies in Ghana might be improved. 1.3 METHODOLOGY In order to achieve the research objectives the following methods have been used. Literature review: Relevant articles in academic and professional journals have been reviewed in order to establish the extent to which corporate governance disclosure requirements exist and are adhered to in various ECMs. Keywords such as corporate governance, disclosures, ECMs, and Ghana input into databases such as Emerald, JSTOR, SSRN, and Google to search for relevant articles. Document study:Statutory and regulatory documents have been examined to ascertain the existing corporate governance disclosure requirements in Ghana. In addition, the annual reports of a sample of 25 listed companies in Ghana for the year 2008 have been studied to determine the extent and quality of their corporate governance disclosures. Disclosure Index:A corporate governance disclosure index has been and applied to the 2008 annual reports of 25 listed companies in Ghana. The index is has been constructed to include the key corporate governance requirements that apply to listed companies in Ghana. Semi-structured interviews: Six semi-structured interviews were conducted in order to ascertain the reasons for differences in the corporate governance disclosures made by, and required of, listed companies in Ghana. The interviewees were two finance executives of listed companies, two senior audit partners from the Big Four auditing firms and one representative from each of the Ghana Stock Exchange and the GSEC. 1.4 IMPORTANCE AND LIMITATIONS OF THE STUDY Prior studies such as those of Tsamenyi, et al 2007 and ROSC 2005, which have examined aspects of corporate governance in ECMs and, in particular, Ghana have revealed that corporate governance as a policy and regulatory issue is gaining ground but the level of corporate governance disclosure is low. This study, by establishing the current extent (and quality) of corporate governance disclosures in Ghana, identifying deviations from the corporate governance disclosure requirements, and making recommendations on how corporate governance disclosure practices may be improved, will help to bring about improvements in the corporate governance disclosures by listed companies in Ghana However, the study has a number of limitations. These include the following: The study has focused only on a limited sample of 25 out of the 36 listed companies on the GSE. As a consequence the result may not be representative of all listed companies (or indeed, other companies) in Ghana. The study will be based on one years corporate governance disclosures and these may not be representative of corporate governance disclosures made in other years. Research which incorporates a longitudinal study may be necessary to demonstrate the development of corporate governance disclosures in Ghana. The semi-structured interviews were conducted with a small sample of interviewees and the opinions expressed may be influenced by their personal ideologies and the extent of their experience with listed companies in Ghana. 1.5 ORGANISATION OF THIS RESEARCH REPORT This research report has six (6) chapters as follows, Chapter 1: Introduction: In this chapter the background to the study is explained, and its aims and objectives are specified. The research methods used for the study are outlined and consideration is also given to the contributions and limitations of the research project. Chapter 2: corporate governance requirements in Ghana: This chapter provides background information on the corporate environment in Ghana and sets out the corporate governance requirements. Chapter 3: Literature review: This chapter provides a definition of corporate governance and examines the importance of, and the principles underpinning, corporate governance. It also reviews prior research which has examined corporate governance disclosures and more particularly, those which have investigated corporate governance disclosure in ECMs. Chapter 4: Methodology.This chapter explain the development and application of the of disclosure index used to examine the quantity and quality of corporate governance disclosures in the 2008 annual reports of a sample of listed companies in Ghana. It also describes the methodology adopted for the semi-structured interviews conducted with six interviewees from selected institutions in Ghana. In addition it explains the means by which the data have been analysed and reported. Chapter 5: Research findings. The results of the analysis of selected companies annual reports and the semi-structured interviews are reported and examined in the light of the exact literature. Chapter 6: Conclusions and Recommendations.This chapter provides a brief summary of the research project and its findings. Conclusions are drawn from the research findings and recommendations made on ways in which corporate governance disclosures by listed companies in Ghana might be improved. CHAPTER 2 CORPORATE GOVERNANCE REQUIREMENTS IN GHANA 2.1 INTRODUCTION This chapter provides background information on Ghana, its political and economic environment and its corporate profile. It also explains the legal and regulatory framework and the corporate governance requirements which apply to listed companies in Ghana. 2.2 COUNTRY PROFILE Ghana is a Sub-Saharan African country with a total land area of about 238,538 square kilometres/92,100 square miles and a population in 2007, of 23.5 million (Bureau of African Affairs, 2008). Ghanas population is concentrated along the coast in the principal cities (Bureau of African Affairs, 2008). Ethnically, Ghana is divided into smaller groups, each of which has a different language or dialect, however, the official language is English, which is a legacy of British colonial rule (Sarpong, 1999). 2.3 POLITICAL AND ECONOMIC ENVIRONMENT IN GHANA For more than century, Ghana was under British colonial rule. She attained independence on 6th March 1957 and became a republic in July 1960. After independence, Ghana alternated between civilian and military rule. After a series of coup detats (Sarpong, 1999), in January 1993, the country returned to democratic rule under the National Democratic Congress (NDC). After 8 years (in 2001) power switched to the New Patriotic Party (NPP) but in January 2009, following the election, the NPP handed over power to the NDC. The economy of Ghana is dominated by agriculture, mining and forestry agriculture. Agriculture accounts for about 37.5% of GDP (GOG, 2008), and the largest foreign exchange earners for the country are cocoa, gold and coffee (BBC, 2009). In 2007, the countrys GDP was $15.2 billion. As at the first quarter of March 2009, the inflation rate of Ghana was 20.53 % (GOG, 2009). Ghana is a member of United Nations (UN), the British commonwealth, African Union (AU), International Monetary Fund, African Development Bank (ADB), the World Bank Group and the Economic Community of West African States (ECOWAS). 2.4 GHANA STOCK EXCHANGE AND LISTED COMPANIES OWNERSHIP STRUCTURE The Ghana Stock Exchange (GSE) was incorporated in July 1989. It was recognised as an authorized Stock Exchange under the Stock Exchange Act of 1971 (Act 384) in October 1990, and trading on the floor of the Exchange commenced in November the same year. In April 1994, it became a public company limited by guarantee (GSE 2009). The exchange is regulated by the GSE Membership Regulations L.I. 1510, Listing Regulations L.I 1509 and Trading and Settlement Regulations, and is organized as a body corporate under the supervision of the Securities Exchange Commission that falls under the Ministry of Finance. The Exchange is governed by a council which includes representation from licensed dealing members, listed companies, banks, insurance companies, and the general public. The functions of the Council include preventing fraud and malpractice, maintaining good order among members, regulating stock market business and granting listings. The GSE currently has 36 listed companies with a market capitalization as at 31 March 2009, of GH18,041.20m, equivalent to US$13,073.33m (GSE 2009). The manufacturing and banking sectors currently dominate the Exchange, while other listed companies fall into the insurance, mining, transport, food, publication, pharmaceuticals and petroleum sectors. Most of the listed companies on the GSE are Ghanaian (three being listed family-controlled companies) but there are five multinationals. Until 2006, individual foreign investors, who were first allowed to participate on the Exchange in 1993, were not permitted, without approval, to hold more than 10% of a listed companys shares and the total foreign investments in any company could not exceed 74% of the companys shares. These limits were removed by the Foreign Exchange Act of 2006 (Act 723) and non-resident investors can now invest in the market without limit or prior exchange control approval. Dividend income is taxed at 8%, while Capital gains on listed securities are exempt from tax until November 2010 (GES 2009). 2.5 CORPORATE GOVERNANCE REQUIREMENTS IN GHANA Over the recent years, notions of corporate governance has been gaining roots in Ghana in response to initiatives by some stakeholders such as the Ghana Institute of Directors (IoD-Ghana), Private Enterprise Foundation (PEF), State Enterprises Commission, the Institute of Economic Affairs, and the Ghana Centre for Democratic Development (Ocran 2001; Mensah et. al 2002). The IoD-Ghana strives to improve corporate governance practices and strengthen companies boards of directors. It has, for example, hosted international and national conferences, run competitions to increase awareness of corporate governance issues and developed manuals and procedures to help implement good corporate governance practices (Mensah et. al 2002). Notwithstanding the above developments, formal corporate governance structures and institutions are not widespread although a number of laws provide for governance structures for companies in Ghana. These laws include: The Ghana Companies Code 1963 (Act 179), The Securities Industry Law, 1993 (PNDCL 333) as amended by the Securities Industry (Amendment) Act 2000, (Act 590), and the Listing Regulations of the Ghana Stock Exchange, 1990 (L.I. 1509) (K-Coleman and Biekpe 2008) 2.5 .1 LEGAL REQUIREMENTS The Companies Code 1963 (Act 179), which is based substantially on the UKs Companies Act 1948, provides for governance mechanisms of all companies incorporated in Ghana (NEPAD 2005). It provides governance of ministration such as requirements to have directors, appointment and removal of directors, remuneration of directors, directors reports, and audited financial statements. It also provides for various mechanisms for shareholders to enforce their rights, such as rights to annual general meeting, equal treatments of shareholders. The Securities Industry Law 1993 (PNDCL 333), as amended by the Securities Industry (Amendment) Act 2000 (Act 590) and Exchange Commission Regulations (2003), provides for, among other things, the governance mechanism of all stock exchanges, investment advisors, securities dealers, issues concerning accounts and audits and collective investment schemes licensed under the Securities and Exchange Commission (SEC 2003). The Securities and Exchange Commission, overseeing the disclosure of material information to the investing public by companies, including securities listed on the Ghana Stock Exchange. Regulatory Frameworks for Boards of Directors The Companies Code describes directors as person who is appointed to direct and administer the business of the company, and stipulates that each company must appoint a minimum of two directors for a company. However, the Code allows companies to fix the maximum number of directors in their Regulations. Section 181 of the Companies Code provides that directors are to be appointed through the individual votes of shareholders at a general meeting of the company. However, this frequently means that the directors are approved by the controlling shareholders. There is no requirement under the Companies Code for the appointment of independent directors but this is required under the Securities and Exchange Commissions Code of Best Practices on Corporate Governance (SEC Code) for the GSE. In the exercise of their duties, the directors are required to act at all times in what they believe to be the best interests of the company as a whole so as to preserve its assets, further its business, promote the purposes for which it was formed, and to do so in such manner as a faithful, diligent, careful, and ordinarily skilled director would act in the circumstances. The Code makes provision for the appointment of executive directors by allowing directors to hold any other office or place of profit in the company, other than office of auditor. The directors remuneration is to be reasonably related to the value of services provided and is to and shall be determined from time to time by ordinary resolutions of the company The Companies Code enjoins directors to, at least once annually (at intervals of not more than 15 months), to prepare and send to each shareholder the directors report, which show the state of the companys affairs with any change during the financial year in the nature of the business of the company. The report is approved by the board of directors and signed on behave of the two directors. Regulatory Framework for Shareholder Rights The Companies Code 1963, the Securities Industry Law 1993 and the Regulations of the Ghana Stock Exchange provide the primary regulatory framework for the establishment and operations of companies that issue publicly traded securities. The Companies Code gives shareholders opportunities to participate and vote in general shareholder meetings or exercising rights through proxy for the appointment or removal of directors, access to timely and transparent company information concerning the date, location and agenda of general meetings and the right to petition against unfair prejudice. The Securities Industry Law and the GSE Listing Regulations ensure that the market for corporate control of listed companies functions in an efficient and transparent manner. It provides for example the organizing of shareholders meetings, proxy solicitation and voting by shareholders, disclosure of equity ownership, and allowable actions that shareholders may undertake against directors, including law suits, the removal of directors, and penalties for breaches of their fiduciary duty. Regulatory Framework for Accountability and Audit Under the Companies Code a companys, directors are responsible for keeping proper books of account and for the preparation of financial statements which provides a true and fair view of the company. Auditors are to be appointed by an ordinary resolution of shareholders, except that the directors may appoint the first auditor of the company and fill any casual vacancy in the office of an auditor. Auditors are expected to employ diligence, objectivity and independence in the discharge of their duties and functions. To ensure the auditors independence, the Code prohibits an officer of the company or any associated companies, partners of, or employees of an officer of the company from holding office as auditor. However, the Code permits auditors, in addition to their statutory duties to shareholders as auditors, to provide other services to the company such as, advising on accounting, costing taxation, rising of finance and other matters. This provides a ground for a conflict of interest which may impair the auditors independent. An auditor may be removed from office by an ordinary resolution of shareholders at an annual general meeting after 35 days notice and is allowed to speak to this at this meeting in response to his intended removal. No provisions exist under the Companies Code limiting the term of office of auditors. The GSE Listing Regulations recognize the need for audit sub-committee which should be composed of non-executive directors. The GSE Listing Regulations also prescribe the audit committees duties such as; making recommendations to the board concerning the appointment and remuneration of external auditors; reviewing the auditors evaluation of the system of internal control and accounting. The Companies Code, the Securities Industry Law and the GSE Listing Regulations requires all companies to provide shareholders with audited financial statements prepared in accordance with the Ghana National Accounting Standards issued by the Institute of Chartered Accountants (Ghana) at close of their financial year to its shareholders. 2.5.2 LISTING REQUIREMENTS AND GOVERNANCE GUIDANCE BY CODE OF BEST PRACTICES In December 2003, the Ghana Securities and Exchange Commission (SEC) issued corporate governance principles for listed companies entitledCode of Best Practices on Corporate Governance. This code is based on the OECD Principles of Corporate Governance (SEC 2003). Consistent with the United Kingdom, the code is not mandatory. While these provisions are not binding, the SEC encourages compliance with the Code and requires listed companies to include a statement in their annual report disclosing the extent of compliance with these guidelines. The Code set out principles for the equitable treatment of all shareholders, disclosure and transparency and responsibility of the board of directors. As require by best practice. There should be formal and transparent procedures for appointments to the board. Also there should be separation between the roles of CEO and Board Chairman responsibilities unless there are specific reasons militating against such separation. In the case where two offices are combined the Code required companies to explain to shareholders and the board must enact procedures that ensure the independence of the board as a whole and their respective responsibilities should be defined. There should be a balance of executive and nonexecutive directors with the complement of independent non-executive directors being at least a third of the total membership of the board and in any event, not less than two. 2.6 ANALYSIS OF CORPORATE GOVERNANCE DISCLOSURES IN GHANA IN COMPARISON WITH THE UNITED KINGDOM The provisions of the code are set in Table 1. Further, so that the provisions applying in Ghana may be evaluated in the light of well established Code of Corporate Governance, the provisions of the UKs Combine Code of Governance (Financial Reporting Council, 2008) are also presented. B.2 ProceduresThere should be a formal and transparent procedure for developing policy on executive remuneration. Members of the committee should exclude themselves from deliberations concerning their own remuneration.There should be a formal and transparent procedure for developing policy on executive remuneration and for fixing the remuneration packages of individual directors. No director should be involved in deciding his or her own remunerationC.2 Internal ControlThe board is responsible for ensuring that appropriate systems of internal control are in place for monitoring risk, adherence to financial governance measures and compliance with the law.The board should maintain a sound system of internal control to safeguard shareholders investment and the companys assets GHANA UK A. Directors A.1 The Board Every company should be headed by an effective board, which is collectively responsible for the success of the company A.2 Chairman and Chief Executive There should ideally be a separation between the role of Board Chairman and CEO unless there are specific reasons which militate against such separation. There should be a separation between the roles of CEO and Board Chairman A.3 Board Balance and Independence The board should include a balance of executive and non-executive directors with the complement of independent non-executive directors being at least one third of the total membership of the board and in any event not less than two. The board should include a balance of executive and non-executive directors (and in particular independent non-executive directors) such that no individual or small group of individuals can dominate the boards decision taking A.4 Appointments of Board Appointments to the board should be formal and transparent selection process should be based on merit. There is no nomination committee There should be a formal, rigorous and transparent procedure for the appointment of new directors to the board. There should be a nomination committee which should lead the process for board appointments and make recommendations to the board A.5 Information and Personal Development The board should have unrestricted access to all company information, records and documents. All directors enjoy the right to retain outside professional experts for counsel The board should be supplied in a timely manner with information in a form and of a quality appropriate to enable it to discharge its duties. All directors should receive induction on joining the board and should regularly update and refresh their skills and knowledge A.6 Performance Evaluation The board should annual review their own performance and that of the various committees The board should undertake a formal and rigorous annual evaluation of its own performance and that of its committees and individual directors. A.7 Re- Election All directors should submit themselves for re-election at regular intervals and at least once in every three years of its committees and individual directors. A.7 Re- Election All directors should submit themselves for re-election at regular intervals and at least once in every three years All directors should be submitted for re-election at regular intervals, subject to continued satisfactory performance B. Directors Remuneration B.1 Directors Remuneration The levels of remuneration in corporate bodies should be competitive, should focus on retaining management and be linked to corporate and individual performance. Every corporate body should establish a remuneration committee. The remuneration committee should comprise of a majority of non-executive directors. Does not give number of directors Levels of remuneration should be sufficient to attract, retain and motivate directors of the quality required to run the company successfully, but a company should avoid paying more than is necessary for this purpose. A significant proportion of executive directors remuneration should be structured so as to link rewards to corporate and individual performance. The board should establish a remuneration committee of at least three independent non executive directors. C. Accountability and Audit C.1 Financial Reporting The board is responsible for ensuring that a balanced and understandable assessment is given of the financial and operating results of the corporate body in the financial statements. The board should present a balanced and understandable assessment of the companys position and prospects C.3 Audit Committee and Auditors The board should establish an audit committee. The audit committee should comprise at least three directors, the majority of whom should be non-executive The board should establish an audit committee of at least three independent non-executive directors D. Relationship with shareholders D.1 Dialogue with institutional shareholders There should be a dialogue with shareholders based on the mutual understanding of objectives. The board as a whole has res

Galileo and Newton :: Galileo, Isaac Newton

Galileo believed the physical world to be bounded. He says that all material things have "this or that shape" and are small or large in relation to other things. He also says that material objects are either in motion or at rest, touching or not touching some other body, and are either one in number, or many. The central properties of the material world are mathematical and strengthened through experimentation. Galileo excludes the properties of tastes, odors, colors, and so on when describing the material world. He states that these properties "reside only in the consciousness." These latter properties would cease to exist without the living creature so the mathematically defined properties are the most accurate in describing the material world. Galileo seems to test his beliefs through experimentation and mathematical reasoning. He sites examples in life that support his hypothesis. His argument is of a scientific nature because he is making a hypothesis on a distinctive type of concept. The conclusions that Galileo made relate directly to the work in physics for which he is so well known. His conclusions put emphasis on shapes, numbers, and motion which are all properties that lend themselves to support through "reasoning back and forth between theory and experiment." I feel that Galileo's argument is a valid one because it explains relations in nature and the physical world through mathematical analysis. This allows him to define a world outside of human existence that can be logically calculated and explained. His view describes the world in which living creatures live and not contrasts it to the world within living creatures. The problem with Galileo's view is that it pioneers a scientific outlook but never actually fulfills it. Newton believes the world is ultimately made up of hard particles that can retain different properties. The central properties are solid, massy, impenetrable, and movable particles. He believes God created matter in the beginning in such a way to allow the particles to take on mathematical forms. His approach is a scientific one because he practices the continual interaction of experiment and theory. It is the hard particles that move in such a way that can be assigned certain mathematical principles that clearly explain the interaction of bodies. Newton's conclusion seems to be a strong one because it deals with the world being made up of particles and shows how these particles act with each other in a way that can be explained scientifically. I like the idea of organized flow in the world and God being the creator of it all. The mathematical/scientific approach offers explanation to how the particles are

Educational Services an Overview

Development of an Instrument to Assess Student Perceptions of the Quality of Tertiary Education in INDIAN Context Suparswa Chakraborty Educational services can be categorized into five parts: (a) primary education services; (b) secondary education services; (c) higher education services (i. e. , education beyond secondary education includes all tertiary education); (d)  adult education; and (e) other education services (e. g. , liberal arts, business, professional). Such education and training encompass degree courses taken for college or university credits or non-degree courses taken for personal edification or pleasure or to upgrade work-related skills. Such education and training services can be provided in traditional institutional settings, such as universities or schools and in specialized institutions. Higher (tertiary) education, adult education, and training services are expanding rapidly. These services include academic and training courses on information technology; languages; executive, management and leadership training and hotel and tourism education. They also include educational testing services and corporate training services. Many of these are practical courses for use on the job. Some can be used as credits toward degrees; and some are non-degree courses. Increasingly, educational institutions and publishers are teaming up with information technology companies and other experts to design courses of instruction on a variety of subjects. Large companies also are developing education and training courses to improve the skills of their employees and to keep them up to date on their latest products. Such services constitute a growing, international business, supplementing the public education system and contributing to global spread of the modern â€Å"knowledge† economy. Availability of these education and training services can help to develop a more efficient workforce, leading countries to an improved competitive position in the world economy. Education is at present one of the least committed of services sectors, due to recognition of its â€Å"public good† element and the high degree of government involvement in its provision. The benefits associated with liberalising education services and facilitating greater and stronger public and private education services can co-existing which would benefit students and education service providers would get improved in the following manner: Facilitating access to education and training courses that in qualitative and quantitative terms which are not otherwise available in the public sector; and †¢ Providing a competitive stimulus to institutions with flow-on benefits to all students. †¢ The education services negotiations should aim to give consumers (students) access to the best education services wherever they are provided and through whatever mode of supply they are provided. †¢ Ensuring measures that consumers (learners) are not damaged by services of low quality, and a safety-net in such areas. There are cases, for example, where the quality of a service supplied by a â€Å"university† in one state is not necessarily of the same level as that supplied by a university of another state, due to the difference in higher education system of the two states. It has also emerged that the quality of education services fails to be correctly judged, in cases where the service is supplied by a â€Å"degree mill† of one university by means of Distance-Learning. It is difficult to arrive at a universally acceptable articulation of what quality in education means. At the same time, such articulation is critical since it plays an important role in shaping the practice of education. It has often been possible to bring about such quality in education at a small scale with intensive utilization of recourses. However, the provision/distribution of quality education by a large-scale system is a daunting challenge. ’ Quality’ as a term refers to ’how well’ certain objects and processes achieve their given aims. It is validating as well as comparative. Its most immediate connotation is ’better’. ’ Better’ as ifferentiated from ’good’, and implying the existence of at least two objects or processes, between which a comparison across a decided set of parameters can be established. Understanding quality in education requires an appreciation of the aims of education; the social and philosophical roots of these aims as well as determining the nature of the organisation and system that is best oriented to achieve them. Educational quality concerns typically encompass topics such as teacher training, textbooks and materials, evaluation and physical infrastructure especially institution buildings. However the quality of these processes/topics can only be understood with reference to the objective of the education system of which they are but a part. Educational objectives in turn are influenced by societal notions of a child, human learning and schooling. The most common worldly application of the term and concept of quality is in the context of products and services. To define quality in the field of education, it may be instructive to examine the more widely practiced usage of quality, and explore its appropriateness or applicability for education. Quality: A Conceptual Exploration Owlia and Aspinwall (1996) interpreted the quality for higher education in terms of the quality dimension by using Garvin’s quality framework (Garvin, 1987), service quality dimension (Parasuraman, Zeithaml & Berry, 1985; 1988), and software quality dimension (Watts, 1987). However, the dimension identification frameworks focuses mainly on defining the quality aspect of the product features (Garvin, 1987) and service features (Parasuraman, Zeithaml & Berry, 1985; 1988). We adopted a more comprehensive approach to classify the quality attributes of education. The framework we proposed is derived from West, Noden and Gosling (2000)’s viewpoint of quality in higher education. We called it the Input–Process–Output (IPO) framework in which ‘Input’ refers to the entry requirements, ‘Process’ refers to the teaching and learning process, and ‘Output’ refers to the employability and academic standings (as shown in Figure 1 below). This classification of quality attributes is in accordance with the organization’s operation system of converting the inputs (e. g. raw materials) into outputs (e. g. products and services) via the process (e. g. procedures). In this way, one can associate the quality improvements with the operating system of any organization, including those from the education sector. Some of the quality dimensions identified in Owlia and Aspinwall’s (1996) study are partially covered in the IPO framework. Current understanding and interpretations of the word ’quality’ owe much to their roots in the evaluation of manufactured products. Pioneering management techniques and concepts related to quality and quality management have become common place, and many applications to the field of education can be sought while cautiously keeping in mind the large differences between the commercial world and education. In fact, quality in education has increasingly been understood through the framework of users and in terms of its value for money. To the extent that the service of education and the provision of commercial services are similar, that is both have ’end-users’ and an expectation of ’value-for-money’, parallels are feasible. However, such parallels often regard the provision of education as similar to a marketable service such as getting a haircut. In such cases, (as the market understands it), the individual seeking the service is generally aware of the outcome that the service will provide her with–a haircut usually results in kempt hair for instance. In other words, the user has the means to evaluate the quality of the service. In the case of education, except for very specific skill-oriented training that has readily identifiable outcomes in the short term, it is not very easy to determine what the rather long term process of ’being educated’ will lead to. This is largely because the ’aims’ of education that is the pressing reasons for educating members of a population in any society or country, emanate from the need to create a social and intellectual environment as members of which individuals will be capable of making and acting on rational decisions concerning themselves and their society rather than building people with a specific set of skills. Most users–parents or children–in the case of education, do not have the means in terms of either understanding and/or experience to evaluate quality–whether the child is receiving an education (given the stated aims or those which a parent understands), except in very rudimentary ways–and how it could be better (i. e. through comparing it to some sort of ideal). In other words, the information asymmetry between the service provider and the user, especially poor users, is an important characteristic of education that must be taken into explicit account. In addition to the lack of a shared understanding of quality between consumers and providers, the field of education is also characterized by the absence of a consensus on the notion of quality. For instance, most consumers and the providers of a service, for example telephones, not only agree on what is meant broadly by ’high quality’ in their domain, but, until new technological innovation comes about, this notion remains largely constant. On the other hand, education likes many other systems or endeavours (such as good health, reform or democracy) has a continuously evolving discourse as well as vibrant debates on what constitutes quality, how can it be achieved and provided in the most optimal way to a large number of children14, making it difficult for such a constant notion to exist. Additionally, inherent in the concept of a desirable social and intellectual environment (to be evolved through educating the population), are ideas concerning values which individuals should possess as this is in the interests of society, even though all individuals themselves may not want to imbibe these (take for example, religious or racist tolerance, or fairness in the face of ’self-interest’). Many such values would not be pertinent as an outcome, were the individual’s education being carried out from a purely market oriented (i. e. mployability) perspective, but they are the founding principles of systems of governance such as democracy. This further jeopardizes the application of market or management-derived concepts of quality to education, since the good/commodity being examined for quality, i. e. education, contains many features not demanded explicitly and in some cases actually even shunned by its customers. Therefore, ’quality’ as appl ied to the provision of commercial services or products cannot be directly applied to the provision of education due to the nature of education, and the inherent ’aims’ in its provision. A Framework for Quality in Education As discussed above, the notion of quality in education is not one, which can be simply transcribed from the predominant concept of quality that has evolved from the commercial world. It needs to be unique to the field of education and based on a deeply contextual, need-based view incorporating pedagogic principles and educational aims rather than a fixed prescription or set of guidelines. A viable framework for quality in education could be envisaged as consisting of the following main components: Aims of education, curriculum, pedagogy and material, school organization and relationships, evaluation and assessment, and the nature of provision. The relationship between the design and constitution of these various components would have to be carefully conceptualized to ensure coherence in the experience of education by children. For instance, design of a curricular document needs to be based on the aims of education and epistemological concerns. Similarly, assessment needs to be understood as a means to strengthen and constantly improve children’s education in the context of the stated curricular objectives through appropriate pedagogic practice, rather then as a tool for classifying children as ’failed’ or ’passed’ and thus deciding whether their education will continue. Each of these aspects of education and its quality are discussed in more detail in the following sections. Aims of Education The ’aims of education’ refer to a broad set of principles that provide direction to the practice of education. They play an important role in determining the institutions, curriculum, and pedagogy and assessment system for providing education. What aims are worth pursuing in education is therefore an important question and the answer is often complex, especially in the context of a diverse socio-cultural milieu. In general, the aim of education could be articulated as building capabilities and instilling values in individuals considered necessary for leading personally and socially fulfilling lives. The form and nature of education in any society is deeply influenced by the notion of a human being predominant in that society, and is closely linked to the understanding of what is ’good’ for people which in turn is based on views regarding human nature, needs and potential. It is therefore not surprising and somewhat inevitable that different societies, and even different groups of people in the same society, propound different notions of education making it a contested concept. Other concepts that influence the process of formulating the aims of education include the understanding of human learning and the notion of a child in society. In education, learning is understood as ’. . . having acquired ability to do something on the basis of experience and effecting a change in the learners’ understanding’ and while learning, thus defined, is an inevitable outcome of living for most, ensuring that the aims of education become part of learning requires active teaching. What these aims actually comprise of, and more importantly translate into through the working of a system of education depends on the nature of governance in a specific nation. For example, France and Prussia historically implemented education systems designed by the elite aimed at developing their respective countries into industrial powers. Given that India is a democracy, the educational aims in the country implicitly imbibe the special characteristics of such a governance system. These include equal participation of all members, an interest in social relations and their control, the potential to make amendments without disorder, and institutions that are flexible to readjustment. As Dewey explains, even a superficial examination of a democratic government’s (such as India’s) interest in the education of its citizens yields that since a democracy dismisses the idea of external authority, education is a must to ensure that popular suffrage leads to an appropriately chosen government. Further, the author suggests that since democracy represents almost a way of life (since it requires understanding the effect of one’s action on others and thereby communicating and accommodating continuously on an individual, societal or communal level) rather than just a governance system, it is only through education that these capacities can be built and such behavior brought about. Further, given that education has been discerned as a means towards progress for not only social and economic prosperity but also for facilitating equitable access to commonly provided, individually appropriated experience, it is important that the distribution of education should be characterized by the ideal of equality of educational opportunity. This is particularly in the case of India where the social order represents pervasive inequalities of wealth and opportunity, and can often lead to social position in terms of wealth and opportunity being correlated with future access to, and experience of, education. This is where the public system of education provided by the state assumes importance as the large majority of India’s poor can afford to access education only through the government system since it is free, and this is likely to remain the case for the foreseeable future. Therefore, it is important to realize that in the context of India, the state has an active interest in shaping each citizen–indeed, the idea or concept of ’state’ itself virtually depends for its existence on education, since it is only education that can effectively transmit the ideal of a democratic state to the next generation, thereby ensuring its perpetual continuity. Following the 86th Constitutional amendment, free and compulsory education in the age group of 6 to 14 is now a fundamental right in India under Article 21 (A). Thus, the aims of a system of education reflect the underlying values on which it is built, which in turn are contextual to human society, with individuals viewed both as atomistic constituents of that society as well as a collective. In practice, the aims of education are often stated in somewhat indeterminate terms. For instance, an oft-stated aim is ’the all round development of children’. This statement clearly requires clarification if it is to provide any direction for the content or the process of education. There is a need to specify what defines such all round development and once a list is drawn it has to be determined whether to include all or select on the basis of relative importance. On the other hand, examples of very specific aims include the focus on producing skilled labour for the economy. While such an aim certainly provides some direction to the educational context, it is too narrow and can impede excellence in other worthwhile aspects of life. Formulating aims that refer to general abilities such as rationality, critical thinking, creativity and others as an end, do avoid being too narrow on the one hand, but are also relatively more specifically definable on the other; and therefore, may work better for school systems. By virtue of being better-definable they help educators translate educational aims into classroom processes. For instance, teaching the concept of numbers and other mathematical operations maybe one of the accepted means of inducing rational thinking in a child, and therefore worthy of inclusion in the curriculum. Further, it is important to ensure that the content and process of teaching mathematics to children actually does translate into rational thinking and does not get restricted to the narrow objective of passing examinations Other common classroom processes prevalent in many schools include repetition of words and poems after the teacher without adequate comprehension and copying ? Sart S (such as a flower) drawn on the blackboard without error. It is questionable whether such practices provide meaningful stimulation for expression or creativity. Meaningful decisions about content and method in education require consciousness of the aims of education as articulated by an education system. The above illustrations are indicative of the absence of such an awareness governing the practice of teaching. In order to ensure that classroom strategies actually emerge from the professed aims of education it is important to include teachers in the discourse on the aims of education and not restrict this dialogue to a few educationists. The agreed-upon aims of education should broadly constitute a ’philosophically and historically informed set’ whose rationale is ’fully stated, public, and revisable’. Indian scenarios The professional education sector in INDIA comprises various types of providers. The largest group is made up of Universities and Affiliated colleges, which are large institutions offering a broad range of vocational and academic subjects at various levels, and are attended by both young people (17-28 year olds) and adults. Deemed Institutions and Autonomous colleges are another substantial group and have traditionally catered for 17-15 year olds taking Advanced level courses. More recently, however, they have broadened both their course offering and their student profile. Specialist Colleges concentrate on specific areas of the curriculum such as management , engineering and professional or land based subjects. They often have well developed links with employers and industry because of the specialist nature of the subjects taught. Finally, Specialist Designated institutions cater mainly for adults, as do External Institutions. The latter, however, also cater to the needs of educationally disadvantaged students through Distance Learning Mode. The purpose of this study is to explore the professional education classroom and its effects on student persistence and satisfaction. In order to face the challenges of student retention, the classroom must be explored to determine how these experiences affect the student attrition process. The classroom is a part of the curricular structure that links different disciplines around a common theme. Understanding the elements of the classroom experience will provide students, faculty, staff, and administrators with a vital sense of shared inquiry. The classroom experience must be designed to provide positive experiences through the adoption of various learning strategies. The article seeks to ascertain to what degree the classroom experience enhances student learning and persistence and, if so, how it does so. Beyond its obvious policy implications, the study purports to provide the context for a series of reflections on the ways in which current theories of student persistence might be modified to account more directly for the role of classroom experience in the process of both student learning and persistence. The study identifies variables associated with student integration or lack thereof, into the educational environment and whether or not these variables have an effect on student persistence. Lastly, the study purports to provide the aspects of student satisfaction and student perceptions of their learning experiences. The Problem As a result of low retention rates, administrators are seeking strategies to create a positive atmosphere that is supportive in meeting student needs in order to ensure student persistence. There is a critical linkage that exists between student involvement in classrooms, student learning, and student persistence. Research studies have identified factors that contribute to and influence student decisions to persist, or leave college before accomplishing their intended educational goals (Astin, 1987, 1993; Bean, 1983; Braxton, 1995, Bogdan & Biklen, 1992; Endo & Harpel, 1982; Tinto, 1975, 1987, 1993). In particular, Tinto’s attrition model (1975, 1987, & 1993) is among those strategies that have been used in an attempt to describe and categorize the student attrition process. Although persistence in college is important, students’ overall satisfaction with their educational experiences and their interactions on the college campus are the most important factors (Tinto, 1993). Collectively, the educational environment and organizational culture is important in determining student satisfaction and their motivation to persist. Statement of the Problem Research studies in the past have analyzed student retention, particularly among traditional university student populations (Anderson, 2001; Astin, 1993; Braxton, 2000; Cope & Hannah, 1975; NCES, 1997, 1998, 1999; Noel et. al. , 1985; Tinto, 1975, 1987, & 1993). As McLeod and Young (2005) have proposed, it is necessary to investigate the factors that influence a student’s decision to remain or not to remain enrolled at a minority institution. The most important factor in predicting a student’s eventual departure from college is absence of sufficient contact with others (Pascarella & Terenzini, 1979). Ostrow, Paul, Dark, and Berhman (1986) found that supportive relationships enable students to better cope with the demands of the college environment. Few studies exist which focus on the higher education classroom and the manner in which it can effects student persistence and satisfaction of students enrolled on traditional university campuses. Evident in previous studies is the recognition that institutional variables do influence a student’s decision to persist in attaining their educational goals. There is a critical linkage that exists between student involvement in classrooms, student learning, and student persistence. The classroom plays an important role in the student learning and persistence process. According to McKeachie (1970, 1994) and Smith (1980, 1983), it is evident that multiple relationships exist between teacher behaviors and student participation in classroom discussions and learning. Student participation in the higher education classroom is relatively passive (Smith, 1983; Karp & Yoels, 1976; Nunn, 1996), and lecturing is dominant (Fischer & Grant, 1983). The author Nunn (1996) found that classroom traits, specifically a supportive atmosphere, are as important to student participation as are student and faculty traits. The recognition of the importance of classroom environment is part of another area of inquiry, namely the role of classroom context, its educational activities and normative orientations, in student learning. Instead of focusing on the behaviors of faculty, a number of researchers have focused on the role of pedagogy (Karplus, 1974; Lawson & Snitgen, 1982; McMillan, 1987) and, in turn, curriculum (Dressel & Mayhew, 1954; Forrest, 1982) and classroom activities (Volkwein, King, & Terenzini, 1986) as predictors of student learning. Generally speaking, these have led to a growing recognition that student learning is enhanced when students are actively involved in learning and when they are placed in situations in which they have to share learning in some positive, connected manner (Astin, 1987). As numerous researchers have suggested (Astin, 1984; Mallette & Cabrera, 1991; Nora, 1987; Pascarella & Terenzini, 1980; Terenzini & Pascarella, 1977), the greater students are academically integrated in the life of the institution, the greater the likelihood that they will persist. Students who feel they do not fit academically in the environment of the institution possess lower levels of satisfaction than those who feel they belong (Bean & Bradley, 1986; Pervin & Rubin, 1967). Astin (1993), Friedlander (1980), Parker and Schmidt (1982), Ory and Braskamp (1988), and Pascarella and Terenzini (1991), all suggested that student involvement in the classroom influences learning. When students are actively involved in the life of the college, especially academically, they will possess greater acquisitions of knowledge and skill development. Juillerat (1995) determined students who participate actively in their learning experience possess higher satisfaction rates than less involved students. According to Endo and Harpel (1982) and Astin (1993) student and faculty engagement, both inside and outside the classroom, are important to the student development process. Endo and Harpel (1982) suggested further those students who persisted which were reported to have had higher levels of contact with peers and faculty and also demonstrated higher levels of learning gain over the course of their stay in college. High levels of involvement prove to be an independent predictor of learning. The more time students invest in their own learning, the higher their level of effort, the more students learn. Braxton, Milem, and Sullivan (2000) wrote that research studies left social integration unexplained. Institutional type (Chapman & Pascarella, 1983), organizational attributes ( Berger & Braxton, 1998; Braxton & Brier, 1989), motivations for attending college (Stage, 1989), financial aid (Cabrera, Nora, & Castaneda, 1992), fulfillment of expectations for college (Braxton, Vesper, & Hossler, 1995), sense of community in residence halls (Berger, 1997), student involvement (Milem & Berger, 1997), life task predominance (Brower, 1992), and self-efficacy (Peterson, 1993) are among the concepts given to understand both academic and social integration and their effects on student departure decisions. Various constructs may also be derived from the role of the institutional classroom in the student departure process and the identification of forces that influence academic integration and social integration. Tinto (1997) suggested that if social integration was to occur, it must occur in the classroom, because the classroom functioned as a gateway for student involvement in the academic and social communities of a college. Thus, the college classroom constitutes one possible source of influence on academic nd social integration. Student Satisfaction and Perceptions of the Classroom Experience The authors, Bean and Bradley suggest student satisfaction is defined as â€Å"a pleasurable emotional state resulting from a person’s enactment of the role of being a student† (1986, p. 398). Overall life realization includes fulfillment with specific domains, such as student satisfaction (Coffman & Gilligan, 2000). Therefore, it is assumed that a students’ overall satisf action with the learning experience is an indicator of college persistence. In addition, Coffman and Gilligan (2000) further found that those students who withdraw from college prior to graduation are less likely to be able to identify someone on campus with whom they had developed a significant relationship. These students report low satisfaction with their personal interactions, social isolation, and absence of opportunities for academic contact. Most of these students report academic difficulties which occur in the classroom highly influenced their departure from college. According to Juillerat (1995), a student related variable that has been found to be connected to student satisfaction is institutional fit. The more acquainted a student is with the environment of the institution, the more he/she will fit into the culture of the institution. Students who feel as if they do not fit into the culture of the institution possess lower levels of satisfaction than those who feel that they belong. According to Juillerat (1995), student satisfaction is the extent to which a students’ perceived educational experience meets or exceeds his/her expectations. Student satisfaction can be defined by the positive and negative gaps in the expectation level and perceived reality. If a students’ expectation is matching or exceeds his/her evaluation of reality then seemingly the student is satisfied. On the other hand, if a students’ expectation is higher than his/her evaluation of reality then seemingly the student is dissatisfied. This approach to defining student satisfaction assists institutions in determining satisfaction levels and closes the gap between reality and expectations. Bean and Bradley (1986) determined that the number of friends a student has, along with his/her confidence in his/her social life, has a significant effect on satisfaction levels. Weir and Okun (1989) found similar results in the amount of contact a student has with peers, faculty, staff and administrators was positively correlated with academic satisfaction. The availability and formal and informal interaction with faculty, staff and administrators for interaction with students is related to student satisfaction and persistence. Endo and Harpel (1982) further suggest that a student expectation for peer involvement academically is a contributor to student satisfaction and persistence. Another important factor of a students’ overall satisfaction with the learning experience is their perceptions of their academic programs of study. The authors Bean and Bradley (1986) suggest if a student is academically integrated and interested in their course of study, motivated to study, and likes the faculty teaching the course will possess high satisfaction. Juillerat (1995) suggests, stimulating coursework and high teaching ability of professors is related to academic satisfaction. The purpose of this study is to explore the higher education classroom and its effects on student persistence and satisfaction. In order to face the challenges of student retention, the classroom must be explored to determine how these experiences affect the student attrition process and ultimately the BRANDING of the Institution by minimizing the GAPS in the service delivery. The classroom is a part of the curricular structure that links different disciplines around a common theme. Understanding the elements of the learning experience will provide students, faculty, staff, and administrators with a vital sense of shared inquiry. The classroom experience must be designed to provide positive experiences through the adoption of collaborative learning strategies. The article seeks to ascertain to what degree such strategies enhance student learning and persistence and, if so, how they do so. In conclusion, administrators in higher education should embrace an understanding of strategies for minority student retention. Administrators have continuously overlooked the essentially educational and developmental character of persistence as it occurs in most institutional settings. There is a rich line of inquiry of the linkage between learning and persistence that has yet to be pursued. Administrators must continue to fully explore the complex ways in which the experiences in the classroom shape both student learning and persistence. The author Braxton (1995) questioned the role of faculty teaching in student satisfaction and persistence. Administrators must be equipped to face the challenges of minority student retention and be proactive in their approaches retain minority students. A students’ ability to be connected to the institutional environment and their ability to adapt to the organizational culture are related to vocational and educational stability, student satisfaction, and student success. The institutional environment and the organizational culture mediate student academic and social experiences in college. Educational stability, student satisfaction, and student success are the building blocks of the retention process this service quality delivery only reinforces the EDUCATIONAL BRAND. [pic]

Marketing strategies of Apple Inc Essay

A study on the marketing strategies of Apple Inc (Dissertation)Document 1. †A study on marketing strategy of Apple† December 2012 I †Critical Analysis of using marketing strategies of branding Apple Inc† Maha H 2. †A study on marketing strategy of Apple† December 2012 II Declaration I hereby declare that this dissertation is my own original work and is the result of my own investigations. This dissertation research was conducted to fulfill the requirements of BA (Hons) in Business Administration (Marketing) associated with University of Wales. XYZ December, 2012 3. †A study on marketing strategy of Apple† December 2012 III Acknowledgement I would like to thank a bunch of people who helped me in completion of my dissertation like: My facilitator for guidance and support throughout the dissertation. All respondents and friends for filling in the questionnaires. My family for constant support and motivation. 4. †A study on marketing strategy of Apple† December 2012 IV Abstract , computernicsconsumer electroApple Incorporation is a multinational company that creates and sells The.billionabout US$16363 stores worldwide, with global sales of, insoftware, and personal computers are mainlyiPadand theiPhone,iPodline of computers,Macintoshlikeknown products-company’s well e due to high brand awareness related to these products. Applerecognized as a source of competitive edg ,Final Cut Studio,Aperture,iWork,iLife,iTunes,Mac OS Xalso sells other branded products like, .iOSbrowser andSafari,Logic Studio The main objective of this study is to analyze the importance of using marketing strategies of branding in Apple Inc. The study will help to find out about the related benefits of branding mainly. The details of the study will help us to learn about the consumer’s awareness about the brand and how their loyalty can be increased in order to gain a competitive edge. Also, analyzing the importance of branding can help us to find out about the Apple brand’s strengths, weaknesses, opportunities and threats, by using SWOT analysis tool and by using STP process, we can know how to segment the market, target the customers and position the products/services. Whereas, by using 4 Ps of marketing mix, we can find out about the branded product, its price, promotion and placement. Therefore, since the competition in the technology industry is increasing, ‘A study on using marketing strategy of branding in Apple’ will help the company in staying at the top of consumer’s mind, to cope up with the changes, to gain competitive edge, to attain goals  set by the company, to make improvements for the future related to products, its pricing strategy, communications used to promote and the placement of the product. Therefore, it will help us to evaluate whether branding will affect Apple Inc’s success rate or not. 5. †A study on marketing strategy of Apple† December 2012   Introduction 1.1 Technology Industry Wiki invest (2012) Technology states, the technology industry provides foundation for activities such as, chip production, information and communication systems, and computer systems. The companies belon ging to this industry serves as developers and manufacturers of the products which increase efficiency and production of cell phones, computers, televisions, and other communication and information systems. It is a huge industry with a high growth potential, but it is sometimes go through volatile cycles, like the semiconductor industry. As chips are getting smaller and globalization is increasing, demand for faster and efficient technology, demand for technological industry in increasing. 1.2 Introduction to Apple Incorporation Apple Incorporation is a multinational company that createst,tha,statesApple store(2012)Wikipedia 363 stores, computer software, and personal computers, selling inconsumer electronicsand sells oncompany was first foundedThe.billion in merchandiseabout US$16ide, with global sales ofworldw and thenRonald Wayne, andSteve Wozniak,Steve Jobsby, CaliforniaCupertinoApril 1, 1976 in he company was named as Apple Computer, Inc before for the first 30Ted on January 3, 1977.incorporat The company’syears. The word â€Å"Computer† was then removed from its name on January 9, 2007. Now the company’s.consumer electronicson personal computers shifted towardswastraditional focus , along with theiriPadand theiPhone,iPodline of computers,Macintoshknown products are the-best suite ofiLifemed ia browser,iTunes,)operating system(Mac OS Xother line of products including, (professionalAperture(suite of productivity software),iWorkmultimedia/creativity software, , aLogic Studioindustry),-(suite of professional audio and filmFinal Cut Studiophotography package), (mobile operating system).iOSweb browser andSafarisuite of music production tools; 1.2.1 Mission statement of Apple Inc According to Apple Inc (2012), †Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced its magical iPad which is  defining the future of mobile media and computing devices.† Another mission statement is:†Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and internet offerings.† 8. To find out about the branded product and its related price, promotion and placement and to find out the strengths, weaknesses, opportunities and threats the company may be facing.ï‚ · To find out about the benefits of branding for the company and to find o ut how branding helps to gain a competitive edge by differentiating themselves and how it increases customer loyalty and increases brand awareness. To analyze the importance of using a marketing strategies of branding for Apple Inc and to find out how STP strategies helps Apple’s brand. Toinnovateonaregularbasis. 1.2.4 Major competitors of Apple Inc Samsung, Microsoft, Dell, HP, Blackberry, Nokia 1.3 Motivations of research: As the competition in the technology industry has increased, it has become mandatory to make a study on the importance of using a marketing strategies of branding for Apple, to stay at the top of consumer’s mind, to cope up with the changing environment, to gain competitive edge, to make improvements in future and to attain goals set by the company. 1.4 Research Objectives: Toopenmorestoresevenoninternationallocationsto increase sales and dominate world market. ï‚ · Tokeepcreatingandreleasingcomputersandconsumerelectronics those are user-friendly. ï‚ · To obtain products and services within tight timeframe, at a cost providing the best value to the customers and shareholders. ï‚ ·Ã¢â‚¬ A study on marketing strategy of Apple† December 2012 2 1.2.2 Vision Statement of Apple Inc â€Å"We believe that we are on the face of the earth to make great productsAccording to Apple Inc (2012), and that’s not changing. We are constantly focusing on innovating. We believe in the simple not the t we need to own and control the primary technologies behind the products thatcomplex. We believe tha we make, and participate only in markets where we can make a significant contribution. We believe in hat are truly important andsaying no to thousands of projects, so that we can really focus on the few t pollination of our groups , which allow us to-meaningful to us. We believe in deep collaboration and cross innovate in a way that others cannot. And frankly, we don’t settle for anything less than excellence in honesty to admit when we’re wrong and the courage to-company,  and we have the selfevery group in the change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.† 1.2.3 Objectives of Apple Inc As stated on the website Apple Inc (2012) are: 9. †A study on marketing strategy of Apple† December Does branding really contribute in making a difference in Apple Inc’s success? 1.6 Organization of Study: Chapter 1: Introduction Chapter 2: Literature Review Chapter 3: Methodology Chapter 4: Research findings, data presentation and data analysis Chapter 5: Conclusion and Recommendationsï‚ · How will using STP strategies, 4 Ps of marketing mix and SWOT Analysis help to enhance Apple’s brand? ï‚ · Does branding allow Apple Inc to charge premium for its products and yet maintain customer loyalty? ï‚ · Does branding allow Apple’s customer to easily recognize and recall the company and its products? ï‚ · Does branding helps Apple to differentiate its products from its competitors, by gaining competitive edge? ï‚ · Does branding allow Apple Inc to communicate company’s objectives, mission and vision clearl y to their customers? 2012 3 1.5 Research question: 1.5.1 Leading question: What benefits will Apple and its customers benefit from after using branding marketing strategy? 1.5.2 Subsidiary questions: 10. Brand recognition- is when the consumers have good knowledge of brand when they are asked questions related to a specific brand and they are able to differentiate a brand on the basis of having noticed or heard about earlier. E.g. Is I-phone related to Apple or Samsung?ï‚ ·Ã¢â‚¬ A study on marketing strategy of Apple† December 2012 4 CHAPTER 2: Literature Review 2.1 Introduction This section will provide the details about the qualitative data, providing a foundation for all the details to follow. 2.2 What is branding? According to Kotler (1999), branding is a †name, term, sign, symbol or design, or a combination of all these that identifies the goods and services of one seller or group of sellers and to differentiate them from those of competitors.† Branding does not only allow your targ et market to choose your company over the competitor’s, but it helps in getting your prospects to see you as the only company that provides a solution to the consumer’s problems. It provides a company’s with a recognizable and trustworthy badge of originality, an intangible guarantee, i.e. a promise of performance that the product will meet with desired consumers’ expectations. 2.2.1 Apple’s Branding Strategy According to Marketing minds (2012), Apple Inc. uses the Apple brand to  compete across several highly competitive markets, including the personal computer industry with its Macintosh line of computers/laptops and related software, the consumer electronics industry with products such as the iPod, digital music distribution through iTunes Music Store, the smart phone market with the Apple iPhone, magazine, book, games and applications publishing via the AppsStore for iPhone and the iPad tablet computing device, and movie and TV content distribution with Apple TV. The company is also establishing a very strong marketing presence relative to the rival (Google) in the advertising market, via its business Apps and iAd network. Steve Job s, the co-Founder of Apple, described the company as being a â€Å"mobile devices company†, largest in the world as their revenues are bigger than Nokia, Samsung, or Sony’s mobile devices business. 2 .2.2 Brand Awareness It is when the consumers are familiar about the life or availability of the product. It is the degree to which consumers associate your brand with a specific product/service. As indicated by Management study guide (2012) in their article † What is brand awareness?†, Brand awareness may include of: 11. It strengthens user loyalty Apple has a branding strategy that focuses on the emotions. Apple brand’s personality is about lifestyle, imagination, liberty regained, innovation, passion, hopes, dreams and aspirations, and power-to-the-people through technology. The Apple brand personality is also about simplicity, making life easier for people as they have people-driven product design, and is a humanistic company with a heartfelt connection with its customers. 2.2.4 Apple’s Brand equity According to Investopedia, it is the premium value that the company realizes from a product with a recognizable name as compared to its generic equivalent fi rm. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability. Also, mass marketing campaigns may help to create brand equity. Brand equity is said to be positive if the consumers are willing to pay more for a branded product than for a generic one. Brand awareness plays a key role in building brand equity. Create reliable brand image, slogans and taglines, helps to strengthen brand awareness which therefore improves brand equity. Marketing minds (2012) also states, Since Apple has strong brand awareness, it has high sales and high market share, and the consumers are well acquainted and familiar with the brand and its products. They are also  willing to pay premium price for their products, relative to the competitor’s brand due to Apple’s positive brand equity. Apple is not just intimate with their consumers but there is a real sense of community among users of its main product lines. Therefore, this also helps to create consumer’s brand loyalty (where brand loyalty is when the consumers become committed to your brand, ch oosing it over competitors and making repeat purchases over time.)ï‚ · It motivates the buyer ï‚ · It connects your target prospects emotionally ï‚ · It confirms your company’s credibility ï‚ · Helps to deliver the message clearly ï‚ · Brand recall- It allows a customer to recover a brand from his memory when given the product class/category, needs satisfied by that category or buying scenario as a signal, i.e. if they are able to recall the brand from their memory. E.g. Showing a logo of Apple’s brand, and asking which brand does this logo belongs to. 2.2.3 Apple’s brand personality As stated by About.com (2012), †What is branding and how important is it to your marketing strategy?†, a good brand helps a company to achieve these objectives: ï‚ ·Ã¢â‚¬ A study on marketing strategy of Apple† December 2012 5 12. †A study on marketing strategy of Apple† December 2012 6 2.3 Benefits of branding a company (Apple) 2.3.1 Emotional Appeal – As stated by Clarity marketing LTD (2005), emotional appeal helps a great deal in targeting customer’s emotions with product names. A strong, recognizable brand will acts like a ‘short cut’ in decision making process, as the customers don’t dither over alternatives or compare options where there is no clear point of difference, and instantly chooses your brand as they know what it stands for. For instance, as Apple manufactures technological items, the name of each product clearly reflects technological aspects like iPod touch, which indicates that it is a product that allows you to play and choose music through touch properties. It therefore, helps in creating an integrated appeal to specific emotions promoting the product recognition and sales. 2.3.2 Memorability and Familiarity – According to Marcia Yudkin (2012), brand helps to create a reputation and good will for a company. It is very hard for customers to refer to a company as â€Å"that whatsitsname store† or to refer business as â€Å"the shop from the Yellow Pages.† In addition to the company name, it gives people to give constant reminders reinforcing the identity of companies they will want to buy from. Memorability can come from the logo, its design, color, style etc which  helps to nail your company’s name in the minds of the public. Similarly, after your brand is nailed in the minds of your customers, that’s when your customers have become familiar and aware of your company’s existence in the market. Branding allows having huge effects on non-customers too. Psychologists’ studies have proved that familiarity develops liking for it. Also, the customers who have never bought from your company, may many tomes be willing to recommend your company to others even without having any personal knowledge of your products or services. Therefore, the half bitten Apple logo and the brand name ‘Apple’ help a great deal to help customers remember, be familiar and recommend the brand to others. 2.3.3 Premium image and Premium price – Branding allows a company to differentiate themselves from competitors existing in the market, because of which instead of dealing with price-shoppers the customers become eager to pay a higher price for your company’s goods and services. A strong brand let the customers associate themselves as being a company that offers premium quality, trendy products and is offering unique products that other companies are not offering. 2.3.4 Extensions – When your company’s brand is well-established, you can spread the respect you’ve earned to a related new product, service or location and win acceptance easily of the newcomer. For instance, when Apple introduced a new product extension line of Ipad, the customers trusted the brand so they didn’t feel reluctant and bought Ipads anyway, making these tablets quite popular of its kind in the market. 2.3.5 Loyalty – When customers have a positive experience with your company’s brand, they are more likely to buy your products and services again in future rather than the competitors. Customers that are closely bonded with your brand’s identity may not only repurchase what they bought earlier, but may also buy related items of the same brand, and recommend your brand to others and resist the lure of a competitor’s price cut. The brand identity helps to create and anchor such loyalty.

Higher Education Essay Example

Higher Education Essay Example Higher Education Essay Higher Education Essay All education,primary,secondary and further education ,should be free to all people and paid for by the government. Do you agree or disagree with this statement? The education system varies from country to country. I tend to believe that the government should pay for the elementary education. In another word, the primary and secondary education should be free. But whether we should pay for the further education or not should be thought over. The reason for the government to burden the cost of basic education is that all of the civilization should be based on people [Individuals ]with basic knowledge of the world. This kind of knowledge, such as the ability of reading or writing which can be used in daily life, should be acquired at schools. Without such knowledge, it may be hard for people[individuals] to earn a living. So I think [Therefore, ]the government should encourage people [The youth]to attend schools to get [for]basic education. And the best way to do this is to provide free education at primary and secondary levels. However, it is another story about the further education[further education, however, is another story]. Colleges and universities should hire professors or better teachers who can offer advanced knowledge. Teachers who are available when students need higher level knowledge. And this can [Which may result in]result in higher costs. It will be difficult for the government to pay for all of the money and it is reasonable to ask the students to share a part of the cost. ? For those students whose family can afford the fees, the government should not pay the money for them. On the other hand, for those poorer students, the government should give them some financial help, for example in form of scholarship. Finally, I conclude that the government should pay for the primary and secondary education. For those who want to receive higher education, it is reasonable to charge them some money if they ca n afford it.

Harry Potter essays

Lord of the Rings/Harry Potter essays Although numerous critics have trashed the latest film versions of these major British works, J.K. Rowlings Harry Potter series and J.R.R. Tolkeins Hobbit and The Lord of the Rings trilogy are strong representative models of universal and classical literature, valuable to academics and laymen alike. Allusions in Harry Potter, such as the King Arthur and Excalibur legend, are modeled in the scene with the giant Basilisk fight and the triumphant sword from the Sorting Hat; King Arthur, the legend is so widely used in media, societies young and old around the world are able to identify the classical themes of strength and of power of good intentions over pervasive evil. Likewise, Homers Odyssey, being one of the oldest pieces of world literature still popular today and having entertained readers foe millennia, exhibits a basic and universal plot of the epic hero overcoming impossible odds to achieve a noble goal and this is a comparison between Odysseus epic journey through the Mediter raneans numerous mythological obstacles matched with Frodos expedition through Middle Earth returning the one Ring for Mordors destruction. The names used in Harry Potter are of Latin ancestry, such as Minerva McGonnagoll, meaning goddess Athena head of crafts, war, and wisdom, and this not only shows the allusion to the name Athena, but helps all readers understand Minervas importance in the novel. Wisdom, a major theme in both novels, common to almost every novel and a universal and classical desired trait for most communities, is implied by the head wizard, Gandolf in Lord of the Rings, meaning wise old shaman with a flowing beard and magical powers. One of the major morals taught in the novel Harry Potter is self-sacrifice, putting oneself voluntarily in a problem situation to better everyone, shown at the climax when Harry leaves his friend behind at the chess game to pursue Vol...

Asch Conformity Experment

Asch Conformity Experment Essay The Asch Paradigm Majority Influence Introduction In this essay i will discuss the experiment that Solomon Asch’s conducted in (1950) were his main was aim was to discover how majority influence can affect one individual judgment and how pressure from the majority can pressurise one person to Conform, I will also evaluate his research method, the results and the findings he attained. Aim S Solomon Asch’s had disapproved of the Conformity experiment conducted by Muzzafer Sherriff as Asch had felt that sheriffs visual illusion known as the auto kinnect didn’t really show any results of conformity as the participants were asked to take part in an ambiguous task were they were just asked to point out how far the a light travelled in a dark room, Asch believed that Sherrifs experiment clearly had no right or wrong answer so it was impossible for the experiment to show any results of conformity in a group situation. Asch figured the only way to measure the rates of conformity was to place an individual in a group situation were they would be influenced by the majority even if they knew their group was giving incorrect answers on a task that was ambiguous and obviously correct. The Method (laboratory experiment) Asch Conformity Experment. (2018, Oct 30).

Australian Health Care System Essay Example | Topics and Well Written Essays - 1750 words

Australian Health Care System - Essay Example Proper health care is essential because one can never be sure of the physical and psychological trauma the immigrant or refugee has endured. Compounding the problem is the language problem in case the immigrant is unable to converse in English. There is the need to engage doctors, nurses and other health service workers who understand the immigrants' languages. Australia is a multicultural society. The land is open to receive skilled workers. There is also a blossoming tourist industry. People emigrating from as far as Sudan also reach Australia to make life for themselves. It is necessary to provide primary health care for recently arrived immigrant groups. Many of these people come from countries that have different models of health care compared to Australia. For some, the concept of private insurance or universal insurance is difficult to understand. These clients of local community centre may not have private health insurance and need to access public health services. It is important to bear in mind that many of these people are highly skilled in their sphere of work. They are capable of integrating with the rest of the population in Australia and making a good life for themselves once their health issues are addressed. We are concerned with health issues of immigrants and refugees who are vulnerable to poor health and have ... There is the issue of culture shock these immigrants may undergo. Addressing their health care will also ensure that they settle down quickly to their new way of life in Australia. Primary Health Care We are concerned with health issues of immigrants and refugees who are vulnerable to poor health and have different and complex health backgrounds as compared to the broader Australian community. Some of them come from very difficult situations and it is unsure if they are getting their health needs met post-immigration in Australia. Basic health issues such as vaccination coverage that health care providers might take for granted as having been attended are known to be major areas of deficiency in refugee populations. There are other factors that contribute to difficulties with accessing appropriate and comprehensive care. These include difficulties with language and literacy, lack of familiarity with health care system, lack of awareness of refugee health issues as well as the fragmented nature of current health care delivery for refugee population. These immigrants need to be vaccinated appropriately and it is not known if they are getting it. It is also not known if they are getting adequate and comprehensive health care. More research is needed to track them down and find out if they are diligently seeking and receiving the health care necessary in the initial stages of their stay in Australia. If they are not receiving the needed health care, it is necessary to find out the reasons why they are not receiving it. Normally, a yellow fever vaccination certificate is required from travelers over one year of age within six days of having stayed in Australia. The purpose of these measures is to

Demographic Transition Assignment Example | Topics and Well Written Essays - 1000 words

Demographic Transition - Assignment Example It finally stabilizes in the fourth stage of the demographic transition, as a result of low both birth and death rates. Consequently, most of the developing countries are in this stage. Introduction They are several theories and models describing population dynamics. One of these models is demographic Transition model. It refers to the change of high birth rates and death rates to low birth rates and death rates, as a country grows from a pre-industrial to an industrialized economic system. It focuses on the changes in the population from unstable to where it stabilizes. Demographic Transition refers to the change from high birth rates and death rates to low birth rates and death rates, as a country grows from a pre-industrial to an industrialized economic system. It is normally represented by a demographic transition model. This model gives a description of population change over time. It  has a basis on an interpretation by the American demographer Warren Thompson that begun in 1 929, of the observed transitions, or changes, in birth and death rates in industrialized societies throughout the past two hundred years or so (Caldwell,et al, 2006). The demographic transition model has four stages which are commonly classified as; pre-modern, urbanizing/industrializing, mature industrial and post industrial. Stage one is related with pre modern times, it also seen as the pre-industrial society. It is characterized by a balance between birth and death rates that is high birth rates and death rates that are roughly in balance. It is believed that all human population experienced this until late 18thcentury when Western Europe broke the balance. Since both birth and death rates were roughly equal and high, population growth in this stage is very slow. Actually, the growth rate we less than 0.05% for over 10,000years since Agricultural Revolution (Caldwell,et al, 2006). This characteristic gave this stage a name â€Å"High Stationary Stage† of population growth . The high death rate in this stage is as a result of; occasional food shortages and inadequate knowledge of disease prevention and cure. On the other end, high birth rates were as a result of high fertility rates. This stage is refers to as the urbanizing or industrializing stage. Here, population increases as there is a fall in death rate while birth rates remain the high. In Europe, the changes leading to this stage was the 18th century Agricultural Revolution, were initially slow. However, the fall in death rates in developing countries in the 20th century tended to be substantially faster. The death rate decline is due initially to two factors; higher agricultural practice and better transportation which has brought forth improvement food supply, thus prevented deaths brought about by lack of water and starvation. These agricultural improvements include selective breeding, crop rotation and seed drill technology. Another factor is the improvement of public health; this reduces mortality especially in childhood. These improvements include; improvement in sewerage, water supply, general personal hygiene and food handling. Apart from lo death rate the stage is characterized by changing age structure of the population. The third stage, move the population towards stability though birth rate decline. There are various