Bias, A CBS Insider Exposes How The Media Distort The News

Bernard Goldberg, author of â€Å"Bias, A CBS Insider Exposes How The Media Distort The News† demonstrates in this book how the media are bias in their news reporting. He suggests that they slant their coverage of the news while they tell you that they are presenting all the facts that are involved in the news reports. The author takes a deep view into news reporting, in which he is a part of, in order to offer the public a better understanding of what exactly takes place with important stories in which the media covers, and how they offer an opinion that strongly reflects their own personal views on the topic.In 1996, Bernard Goldberg came clean with his opinion about the bias that he recognizes with the media. As a CBS news reporter, Goldberg discussed, before a public audience, the liberal bias in the media. It was clear that his associates weren’t happy about him mentioning his personal view on the topic and he quickly was treated differently because of his open ann ouncement. This book shows how one person can cause so much chaos in the news business by mentioning subjects that many who are also in the same business, would rather keep private.(Irvine, 2002) Reed Irvine, a media monitor tells us that â€Å"Goldberg was not fired but his career did not prosper. † This statement shows how by giving the truth facts can greatly make or break your career. We learn how Goldberg was treated differently after he made this claim by most people that he had been associating with in the industry. He mentions that some of his closest friends and colleagues turned on him in a negative way, after his admission, including a famous CBS news reporter, Dan Rather. Goldberg offers us a look inside the media and how the industry operates.For many people who have often wondered what goes on behind closed doors, with the media, they can gain valuable information from this book and be able to recognize hints and clues about stories that they are viewing and det ermine if they are getting all the facts about the story or if possibly and most likely, they are getting a bias opinion from the news reporter. Exposing colleagues was a feat that Goldberg took extremely seriously. He had to determine if his words would help society or harm them in any way.His clear decision to blow the whistle on the industry was a sacrifice in which Bernard Goldberg offered his listening public, so they could better make decisions, after hearing these reports from the media, and then make educated decisions about the stories that were being covered and then decide if what they were hearing was accurate stories or if they were simply reports that were altered or swayed in a direction that misled the public. In this book Goldberg shows that everyone does have a right to their own opinion and should be able to speak about subjects in a truthful manner.He displays honesty throughout the book and how telling the truth should be a must for the media, when delivering st ories that have huge impacts on the listening audience. For individuals to make a quick judgment after they listen to the news, should never happen because they must first decide if the information they are receiving is based on facts. Goldberg feels that the public has a right to know what is going on in our world, whether it is something that we need to know or whether high ranked officials feels that we should be kept in the dark.Regardless, Goldberg offers that the public does have a right to hear the truth and that the media needs to fess up and demonstrate only the facts while they report news event and stories. In exposing the media, Goldberg has ultimately placed his reputation and career on the line for the benefit of the general public when he discusses what the media is capable of. He clearly tells us how bias all network newscasts are, from his view point which drastically changes the way we interpret the news that we hear.This book offers both simple humor and seriousne ss on the author’s behalf and he remarkably describes his personal outlook and perception of the media, which offers a huge gift to the public of knowing what exactly goes on with the bias reports that we are given in our news reports, each day. The mainstream press takes on a whole new description and by reading this book, you will be greatly aware of the problems that are associated with the media and what they are and are not allowed to say to the public.The media often desires for the listening audiences to view a story in a very similar manner that they do, themselves. By offering parts and pieces of stories that reflect their own interpretations, and adding their own input on the situation being reported on, the audience hears exactly what is intended for them to hear, we learn from Goldberg. This guided opinion that is adopted by the public is not necessarily and very rarely the complete facts about the story.Rhetoric speaking leads the listeners in a certain direction and Goldberg expresses his dissatisfaction about this occurrence with the media. We can easily sense the courage of Goldberg, as we read about the events that made him such a criticized individual because of his clear views about the media. The author doesn’t really seem as angry as most people probably would, when placed in a similar situation. He only seems to offer his words of honesty, displaying his true caring intentions for the his audience of public listeners.When he talks about being shut out or treated with disrespect by members of the media, I feel that he was hurt but he didn’t allow this hurt to push him under. This hurt only encouraged him to be stand strong in what he believed in and he had to make a decision to continue to be honest with the public or to sit back and be rejected by the media. He obviously chose to persist with his views about what was taking place with the media, and in writing this book, he demonstrates his strong will and dedication to those who deserve to know the complete truth.

Wheel of life

I feel that at this point in my life, I'm as ready as I can be. Having not gone to school for so many years have made me realize what potential I have lost. With all the advancements that is occur in today's world with the availability of the internet and big corporations that is running most of the world's operation. With such big company, there comes much vulnerability in the security system.Looking back at September 11th, I realized that with all the security measures that was taken to prevent such incident failed and the unthinkable happened. Since then, technology and it's security system have gotten stricter and more complicated, something that I feel that I'm very behind on how it all work and that only going back to school to learn about the technological advancements and how it works would help me better my chances as time goes on.The class would challenge me In my thinking skills and my habits. It would develop me for form new habits and thinking skills to much my time with school and work more efficient, making me think In ways that I have not in a long while. Thus challenging me to become more develop as a person in today's technical oral, with the understanding on how it works. By being successful and realizing what is needed to be accomplish In order to succeed In today's world, one must be able to maintain a standard.By examining my experience and how the world have since makes me understand that without a adequate education, It become much harder to succeed In today's world. Not only for the reason that It will bring forth a certificate but it ready you for critical thinking and will develop you mentally as a person for later on life, helping you go on the road and building a strategy to become successful.

Should Parental Consent be required for a Minor to Obtain an Abortion Research Paper

Should Parental Consent be required for a Minor to Obtain an Abortion - Research Paper Example There are laws that restrict a teenager’s access to abortion. In many US states, there are laws that restrict minors under the age of 18 years from procuring an abortion unless their parents’ consent is obtained or they have involved the court. These laws take two forms. Some laws require a physician to seek a parent’s consent before procuring abortion on a minor (Cartoof & Klerman, 2011). Other laws require the parents to be notified before the procedure is performed. Parental involvement is primarily meant to protect the minors. In Planned Parenthood v. Casey, Judges Kennedy, O’Connor, and Souter were of the view that parental involvement and consent is intended to protect the children. The case was based on an assumption that minors will benefit from consultation with parents since parents have their best interests at heart. A study conducted by national researchers concluded that parents display a disappointment when their minors’ report pregnancy cases. However, parents don’t respond with violence, but parental stress is the most probable result of such announcements. Claims that minors may resort to unsafe alternatives, is untrue. A study of self-induced medical abortions in 2007 revealed this fact. In fact, many people who used such methods were adults! No cases were reported where minors resorted to unsafe abortion procedures after disclosing their pregnancy to their parents (Murphy, 2014). It has been established that many juvenile pregnancies result from rape or coercion. In fact, National studies reveal that 70% of teenage pregnancies result from adult sexual partners. These adults may want the minors to procure abortions to save themselves from lawful consequences. Laws on parental consent on abortions prevent such predatory practices on children. The Supreme Court succinctly explains why or how minors benefit from parental involvement.

What has motivated the desire to pursue primary care practice Essay

What has motivated the desire to pursue primary care practice - Essay Example The researcher tells that his desire to be a practitioner in the medical or healthcare field began long ago. Having witnessed several people suffering to their death for lack of good healthcare during his days as a young person, the researcher developed the passion for learning how to save lives. Saving lives remains my main motivation in life and indeed in my pursuit of further education. While this is the case, the researcher is specifically motivated to pursue primary care practice by the fact that the prevention of diseases or health problems is far better and more desirable than their cure. According to the American Academy of Family Physicians, primary care practice encompasses several activities including counseling, diagnosis and treatment of chronic and acute ailments, patient education, health maintenance, health promotion, and disease prevention. Being the first point of entry into the healthcare system for patients, it is imperative that the practice remains dedicated to ensuring that the patient as much as possible recovers without developing complications related to their initial ailments as noted by. While the researcher wishes to see too patients and the general public lead healthier lives, he is more biased toward getting them educated so that they possibly avoid getting sick and take necessary measures to avoid having their situations worsened as a result of negligence or lack of knowledge. Furthermore, the researcher is most supportive of the idea of preventing, diagnosing and treating illnesses early enough before the patient condition gets worse.

Lab7 Essay Example | Topics and Well Written Essays - 750 words

Lab7 - Essay Example Just as original Image A, Image C looks similar to Image C1 after the logarithmic transformation. Above are images (1) original, (2) the transformed image of (1) and (3) is the reverse transformation of image (2). The original image (1) demonstrates the Fourier transmutation. The reverse image is available to reconstruct the original image which is a replica in the pixels and luminance. The reconstruction of the original image can be done through inverse Fourier transformation as depicted in image (3). The transformation of the original image (2) has high frequency in the center image hence it is viewed as a dot. (Sandra A, 2012) Image (i) is a circle image due to incoherent noise and its respective transformation image (ii). Image (i) indicates a random and even noise spread all over while image (ii) depicts a partial noise removal from the filtered image. Image (iii) is a circle with a coherent noise that is regular in the vertical direction. The image also has a sharp edge. It transformed image (iv) indicates inexistence of lines yet there appears wave-like circles around the dot to indicate existence of soft noise. The wave-like circles disappear when we move to the outside from the dot. This indicates lack on noise at the borders of the image. In comparison to the entire four images, (ii) appears sharper than (iv). Therefore, Fourier is able to separate the noise from image in a regular noise but remove just a few in a random noise. In the figures above, (1) is an ideal lowpass filter, (2) is the original circle through a filtered spectrum with incoherent noise and (3) is an inverse transformation of (2). The final image is made better than the original image through application of lowpass filter and production of low frequency through the filtered spectrum of original image. The final image shows more details and is brighter than image (1). Hence the lowpass filter is vital for noise removal from the image for

Personal Ethics Development Paper Research Example | Topics and Well Written Essays - 1250 words

Personal Ethics Development - Research Paper Example Ethics of a person is developed from a tender age. Majority of people learn about ethical behavior from home, school, and church among other institutions. In addition, a person’s ethical conduct also developed through the people that exist in the life of a person. Ethical behavior is developed at childhood. Nonetheless, ethical behavior keeps on developing as a person’s matures (Trevino & Nelson, 2007). The behavior I came to adapt is the normative ethics. This kind of ethical behavior assisted in my decision making in addition, through ethical conduct I could differentiate between right and wrong. Throughout my life, normative, ethical conduct has been my foundation and it has assisted in my growth and development. Normative ethics is more practical and assist in enhancing moral standards and norms. In addition, through normative ethics one is able to differentiate between right and wrong. Good habits and appropriate moral behavior also enhanced by normative, ethical c onduct. In addition, normative, ethical behavior also teaches a person that every moral behavior followed by consequences of the action (Trevino & Nelson, 2007). Therefore, both the negatives and the positives moral conduct have their impacts in life. I am more of a practical person and this kind of ethics has been my foundation for years. My self-esteem and moral conduct throughout my life have been guided by normative, moral behavior. I have encountered people with different moral values and principles depending on where the person came from and the people involved in the person’s life. My parents and the spiritual leaders in the church are the people involved in building my ethical system. My parents were authoritative, and they advised me to lead by example. Further, they taught me not everyone is perfect in life; nonetheless, living in a manner that portrayed respectful behavior in front of people should be my priority. In addition, I was advised to behave in accordance to the wishes of Christ. In church, my spiritual leaders would advise the entire congregation, and I â€Å"to practice what we preach†. They recommend the phrase often because they believed ethical conduct could be enhanced through the phrase. Nonetheless, the behavior of the churchgoers surprised me. I did not comprehend their behavior, on Sunday, they would be polite and welcoming, but during the week, they would portray a very different behavior. My parents taught me otherwise and told me living by example should be my priority. Therefore, as I grew I ensured my words and actions were similar. My ethical conduct was significant in my life, behaving according to social norms and beliefs were my priority. Another motivator to my ethical conduct was the bible. I applied the word of God in my daily life incorporated by normative ethical system; therefore, improving my conduct around people and making a wise decision when need arises. Through the bible, I learnt a number of thi ngs that could shape my ethical conduct, in addition, my decision-making criteria also enhanced by the bible. In my development of ethical conduct, I also made mistakes that assisted in shaping me up. When I was a teenager, I made a mistake of going out with my friends without the permission of my parents. I was curious about what people did when they were out, and the only

Analysis of Bottled Water Markets Coursework Example | Topics and Well Written Essays - 1250 words

Analysis of Bottled Water Markets - Coursework Example The demand of bottled drinking water in the UK and the rest of the world have been rising steadily over the years. In the UK, the bottled water industry holds a significant share in the soft drinks industry. In 2011, 1682 million litres of bottled drinking water were consumed and the total drinking water bottle production was 1692 million litres. Per person consumption of bottled drinking water was 34 litres in 2011. People consumed bottled drinking water more than nectar juices, wine etc (British Bottled Water Producers, 2011).  In the UK, drinking water consumption has increased drastically, that is why supplies have increased and bottled drinking water has become a necessity for many (Weissberg, 2008). The supply and demand of a product usually depends upon the price of the product and other economic factors (Jain and Khanna, 2007). However, in this particular case the price of the packaged drinking water does not have much impact on consumers as, water is a necessary beverage. The basic increase in demand of bottled drinking water is due to the loss of faith of the public in tap water system of the country (Bridges and Linkov, 2011). This has boosted the sales of packaged water. When consumers travel, they prefer packaged water because it is convenient to carry and trustworthy in terms of quality.     The average price of a 500 ml bottled drinking water sold by the restaurants of UK is  £1 and for restaurant owners is  £1 a litre. This data shows the availability of safe drinking water in restaurants and diners in the UK (Hickman, 2013). Demand of a product arouses when the consumer has a certain desire to own that product and to fulfill their requirement,the goods are supplied by the supplier (Jain and Khanna, 2007). The demand of the bottled drinking water is high and but its price is low.  When there is an average demand of bottled drinking water, the demand can be met by the suppliers very easily. However, when the demand of bottled drinking water will increase, it will be difficult for the suppliers to meet the growing demand of consumers. The bottled drinking water is purified by the water purifier companies and is infused with vitamins and minerals. This process takes a lot of time and to ensure quality of the products, the time factor is very important for manufacturers of bottled drinking water.

Article Review Essay Example | Topics and Well Written Essays - 500 words - 30

Article Review - Essay Example The six styles of leadership have a quantitative effect on every climatic aspect. In a nutshell, the coercive leaders tends to demand immediate compliance, authoritative leaders mobilizes the workers towards the company’s objective, affiliative leaders creates that harmony and comes up with an emotional bond, democratic leaders comes up with consensus through the art of participation, pacesetting leaders sets high level of performance, while the coaching leaders develops the employee for the future. Therefore, from the article, the more styles a leader implements the better the performance of an organization; leading with more than four leadership styles have the best business and climate performance. Some of the six effective leadership styles that should be employed by leaders at the place of work include; authoritative leaders who are able to mobilize individuals towards a vision, coercive leaders who demand immediate compliance, democratic leaders who build consensus, affiliative leaders who creates harmony and emotional bonds, coaching leaders who develop people for the future as well as Pacesetting leaders who expect self-direction and excellence. The listed six leadership styles are often driven by emotional intelligence capabilities such as social skills, social awareness, self-management and self-awareness (Goleman, 2). Executives who failed to utilize emotional intelligence registered less performance and were rarely rated as outstanding. Effective leadership and emotional intelligence are intertwined. Leaders tend to influence the organizational environment in various ways. There are six factors that affect the working environment of the organization. The factors inclu de; sense of responsibility, the level of standards, the clarity of the people, level of commitment, aptness of rewards and its flexibility. For effective

Business Law Phase 2 Individual Project Essay Example | Topics and Well Written Essays - 750 words

Business Law Phase 2 Individual Project - Essay Example said contract period, to comply with any provision of this Agreement intended for the client’s protection or benefit, or that that by its sense and context, is intended to survive the completion, expiration or termination of this Agreement. Contractor understands that no work should begin under this agreement until all required signatures on this Agreement have been obtained. Any work performed by contractor prior to such time shall be considered as having been performed at the contractor’s own risk and as a volunteer. Client may terminate this Agreement in whole or in part for its sole Convenience. Upon notice of such termination, Contractor shall immediately stop all work including shipment of goods under this Agreement and cause its suppliers and/or subcontractors to cease their work for this Agreement. In the event of such termination, Contractor shall be entitled to payment, calculated on a pro rata or other equitable basis, determined by the Client in its sole discretion, for work or services satisfactorily performed. In no event shall Contractor be paid for work performed or costs incurred after receipt of notice of termination, or for costs incurred by suppliers or subcontractors, which reasonably could have been avoided. Offer: It is mentioned that the offeror/ contractor offers to perform the house renovation as agreed upon in ‘annex 1’. Basing on the given guidelines, the contractor shall render the service needed by the client in exchange for monetary payment at the end of the contract period. It is also stated how the contractor expects to be compensated in the ‘Terms of Payment’ section. As such, the contractor is able to clearly state what is expected of him while bound by this service contract. Acceptance: The client/ offeree signified his intent to comply with his side of the agreement by signing off the document. With this, the client makes it clear that he understands what is expected of him as a client and agrees to pay for the

Contemporary Strategic Management Essay Example | Topics and Well Written Essays - 4000 words

Contemporary Strategic Management - Essay Example The report will be divided into two segments. The first segments will cover the strategic analysis of the company and the second part of the study will cover the strategic choice and strategic implementation. The strategic analysis will be mainly carried out to find the current situation of the company and the strategies used by them to operate in the market place. In order to evaluate those strategies of Vodafone, several strategic frameworks will be utilized. The strategic frameworks which will be utilized in this study are SWOT framework, PESTEL analysis, and BCG matrix. Apart from that, to analyse the UK telecom industry, Porter’s five forces framework will be used. The tools will be directly applied on Vodafone to identify its current situation, performance and ability. Furthermore, the report will also suggest the alternative courses of action by which Vodafone can operate and market its products efficiently in the future. After that an alternative will be chosen and its selection will be justified. Finally, the process of implementing the strategy will be enlightened. SECTION I – STRATEGIC ANALYSIS Vodafone: A Brief Overview Vodafone group Plc. is a UK based multinational company involved in the business telecommunication products and services. The company was founded in the year 1991. However its history goes back to 1983, when it used to operate as Racial Telecom (Vodafone, 2012a). Previously, the company had its headquarters at Berkshire, however recently it moved to London, United Kingdom. The company has presence in places such as Asia Pacific, Middle East, Africa, Europe and USA. Some of the major products and services of the company are prepaid and post paid voice services, mobile data services, MMS and SMS services, handsets, land-lines and digital television among others. It employs around 70,000 employees around the world. According to the recent media publications, the company holds a mammoth base of 407 million subscribers aroun d the world. Vodafone in listed in the London Stock Exchange and has listing in NASDAQ. With the changing business environment and rapid technological growth, the expectation of customers has also increased. Hence in order to meet the needs of the customers, Vodafone periodically updates its product portfolio by launching new products. For example implementation of 3G is the latest addition. The competitors of the company are Tesco, Fresh, Sainsbury, Virgin, BT Mobile and One Tel among others. Situational Analysis Situation analysis is a method by which companies evaluate their internal and external environment. This helps in understanding the firm’s business environment, customers, capabilities and core competencies (Davis, 2008). In this context i.e. to understand and identify the business environment, capabilities and core competencies of Vodafone, several situation analysis tools will be used. To understand the industry porter’s five forces will be used and to gaug e the external business factors PESTEL analysis will be used. In addition, to get an in depth information about the internal environment of the organization, tools such as SWOT framework and BCG matrix will be used. SWOT

Thomas Merton Essay Example for Free

Thomas Merton Essay Thomas Merton is a spiritual writer who has come up with different works on faith and religion. One of his works The True Self talks about humility and its association with meditation. Merton writes that humility is not assuming another character that someone is not as this only reflects your insistence that a person knows better than God with regards to his personality. This is basically true because in meditation an individual reflects on his own life and reflects on how he is created by God into the person that he is. In meditation, a person does not pretend and does not try to assume another role or another characteristic. Merton presents that there is the resistance to the temptation of being lost among the false masks of other people. Meditation helps us to humbly accept who we are and how God has created us. Humility is realizing that our current selves are special and any chance for improvement should be utilized for the better and not for the purpose of shifting into another personality very far from our own.Moral action is the voluntary effort of a man in response to a particular event based on his moral beliefs of whether the event is right or wrong. Human dignity is very much related to morality in that any offense to the former is a reflection on morality. In this regard, insults in human dignity such as murder, sexual offence, slavery, abuse, or any other form of annihilation of human rights is subject to moral action. Because these acts clearly offend morality, a person is bound to carry out his moral action depending on his beliefs and judgment. If a person believes that an act like euthanasia is not morally wrong then this would determine his moral action regarding a possible threat to human dignity. Reference: Pastoral Constitution on the Church in the modern world. December 7, 1965.

Individual Reflective Account Of Leadership Development

Individual Reflective Account Of Leadership Development Title: A personal reflective narrative on how engaging with the leadership literature has affected my own conceptualisations of leadership. Introduction The theories of transformational leadership (Bass, 1985; Bass and Avolio, 1994) and charismatic leadership (Conger and Kanungo, 1987) represent popular approaches to the conceptualisation of leadership and have arguably evolved to be central to the field. However, a number of scholars have raised several issues with these approaches (Pawar, 2003; Yukl, 1999). and it is the intention here to highlight a number of concerns that relate to the challenge of teaching leadership. This addresses an area of neglect in the literature as there has been limited consideration of the teaching of leadership (Doh, 2003). The Meaning of Leadership Researchers interested in leadership have approached the development of an understanding of leadership from a variety of perspectives. Much of the leadership research conducted during the first half of twentieth century was focused on the identification of personal traits (attributes) that characterised those individuals who emerged as leaders. A review of the leadership literature reveals that there are multiple definitions that have been given to the leadership construct. Bass (1990) focuses on the concept of leadership. He suggests that there are several different approaches to the definition. While each of these perspectives and uses of the term is a legitimate use of the construct of leadership, each reflects a different conceptualization than that which traditionally has been employed. Bass points out that definitions can be used to serve a variety of purposes. Bass (1960) noted that the definition used in a particular study of leadership depends on the purposes of the study. Consistent with this, Yukl (1994:5) concluded that leadership research should be designed to provide information relevant to the entire range of definitions, so that over time it will be possible to compare the utility of different conceptualizations and arrive at some consensus on the matter. Bass (1990:19) further notes that researchers have developed definitions to serve the following different purposes: (1) to identify the object to be observed, (2) to identify a form of practice, (3) to satisfy a particular value orientation, (4) to avoid a particular orientation or implication for a practice, and (5) to provide a basis for the development of theory. The definitions indicate a progression of thought, although historically, many trends overlapped. The earlier definitions identified leadership as a focus of group process and movement, personality in action. The next type considered it as the art of inducing compliance. The more recent definitions conceive of leadership in terms of influence relationships, power differentials, persuasion, influence on goal achievement, role differentiation, reinforcement, initiation of structure, and perceived attributions of behaviour that are consistent with what the what the perceivers believe leadership to be. The truth is that leade rship may in fact involve all these things. Rethinking leadership Barker (1997) argues that the ambiguity surrounding what we understand as leadership is central to the struggle of teaching leadership. Rost (1991) indeed notes that the leadership literature although vast, is often contradictory, confusing and lacks cohesion. BrymanHYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb11HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb11s (1996) documentation of four chronological phases of leadership theory, is illustrative of changing conceptions of leadership: Trait theories (concerned with an identification of leaders traits). Behavioural theories (concerned with identification of behavioural styles of leaders). Contingency theories (concerned with a focus on fitting behavioural styles to situational factors). New theories of leadership (concerned with a focus on the articulation of a vision). Arguably, such new theories of leadership have over recent years evolved as central to our understanding of leadership with an emphasis on transformational leadership where a leader stimulates followers to change their motives, beliefs and values and capabilities so that the followers own interests and personal goals become congruent with the organisation (Bass, 1985). An important facet of this leadership is charisma, and indeed Conger and Kanungo (1987) have developed a leadership theory that specifically focuses on this dimension. Conger HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb17et al.HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb17 (2000, p. 748) suggest that charismatic leaders differ from other leaders by their ability to formulate and articulate an inspirational vision and by behaviours that they and their mission are extraordinary. In both models there is a common suggestion of a leader inspiring followers to a shared vision. This conceptualisation has arguably become widely accepted in the literature. However, some have questioned such mainstream thinking and invite a greater openness to the consideration of leadership than is presently found (Alvesson and Sveningsson, 2003). It is suggested here that a notion of a leader inspiring followers to a shared vision represents only one way to think about leadership and may not be of much assistance to those concerned with the teaching of leadership. It is in this respect that I intend to argue that this dominant conceptualisation represents a particular way of thinking about organisations and managerial work (of which leadership is one aspect), namely what may be described as systems-control thinking. Systems-control orthodoxy tends to promote a rather mechanistic view of organisations and managerial work seeing managing as an activity mainly concerned with designing and controlling work organisations as if they were big machine-like systems rationally devised to meet unambiguous organisational goals (Watson, 2005, p. 2). Such thinking derives from modernist and universalistic aspirations to maximise control over human circumstances with the manager being viewed as an expert who controls and motivates subordinates to behave in particular ways consistent with the organisations goals. Indeed, Barker (2001, p. 479) challenges the notion of new leadership theory, arguing that the work of Bass (1985, 1990) for example, clings to the idea that leadership is about leaders supervising subordinates, about subordinates working hard toward institutional objectives as the primary goal for leadership and about the leaders ability to persuade/inspire/motivate subordinates to release their own n eeds to work toward the interests of the leader or the institution that the leader represents. The extent then to which new theories provide an alternative perspective of leadership is thus questionable since along with previous conceptualisations, they continue to be framed by systems-control thinking. It is suggested that an alternative way to think about leadership is to adopt process-relational thinking. To adopt such thinking would be to recognise that: Managers like everyone else in organisational settings, are continually striving to make sense of numerous crosscutting and conflicting goals and purposes. Managers and non-managers alike constantly have to make and remake bargains, exert power, resist power, cope with conflicts of interest and negotiate understandings with others to make sure that the goods are produced or services provided to a level and quality that enables the organisation to remain in existence (Watson, 2005, pp. 2-3). The origins of such thinking may be seen to be associated with a dissatisfaction with mainstream systems-control thinking and in particular, the critique of Silverman (1970) which drew upon ideas from social action theory (Berger and Luckman, 1967), highlighting an understanding of organisations as social constructs produced and reproduced through their members activities and later being built upon to emphasise the notion of negotiated order (Day and Day, 1977). To view the organisation in process-relational terms thus involves a shift from seeing the organisation as a goal pursuing entity as suggested by a systems-control perspective to thinking about the organisation as ongoing patterns of meaning making and activity brought about as à ¢Ã¢â€š ¬Ã‚ ¦ people in relationships to others and to their cultures (Watson, 2005, p. 6). Viewing the organisation through a process-relational lens thus accepts that only partial managerial control can ever be achieved given the ongoing and emerge nt nature of organisational activity and the centrality of people in relationships to others with their inevitable complexities and differing interests. However, it is important to note that the adoption of a process-relational perspective (or indeed a systems-control one) goes beyond a way of seeing the organising and managing of work, it also represents a way of talking and acting towards organising and managing. Thus a manager who adopts a process-relational framework is more likely to take into account broader and more-subtle aspects of work behaviour. Arguably, the central notion of leaders inspiring followers to a shared vision seen in new leadership theories becomes more problematic when thinking in process-relational terms. It is thus suggested here that thinking about leadership in process-relational terms may be more helpful to management educators as it does greater justice to the complex, messy realities of organisational life and as such provides greater assistance in helping managers to make sense of their management practice, and in particular, the part of their practice that is leadership. Systems-control vs process-relational framing of leadership It is suggested that theories of transformational and charismatic leadership are tied to a systems-control perspective of organisations. Below we raise a number of issues that emerge from the adoption of such a perspective. The issues raised here are by no means exhaustive but rather serve to illustrate some of the difficulties in framing leadership in a systems-control way and in particular ensuing tensions for the teaching of leadership draws on the work of Watson (2005) and summarises the issues discussed below, highlighting the central features of a systems-control leadership perspective contrasted with a process-relational one. We problematise a number of features of systems-control thinking in relation to leadership, namely the assumption of a unitary organisation; the emphasis placed upon the individual leader often portrayed in terms of superhero status and the subsequent neglect of others involved in leadership processes, and relatedly the separation and elevation of leaders hip from other organisational activities. We suggest that adopting a process-relational leadership perspective offers a more grounded and realistic conceptualisation which accepts the plurality of organisational life, focuses on leadership as an emergent process which includes the contributions of others and sees leadership as integral to the organising and managing of work. The unitary and fixed organisation Central to systems-control thinking is a notion of the pursuit of clear organisational goals, designed by the manager or leader who then motivates others to act in ways which will achieve these goals. It is suggested that this is problematic for a number of reasons. Such a way of thinking about leadership is based upon a unitary view of organisations that proposes all organisational members share the goals of the organisation and are thus motivated to act in ways that will ensure the realisation of such goals. Both transformational and charismatic leadership theories can be seen to uphold unitarist assumptions. Central to Basss theory is a notion of subordinates transcending their self interests for the goals of the organisation, with Bass and Avolio (1994, p. 3) for example suggesting that the (transformational) leader creates clearly communicated expectations that followers want to meet, and similarly Conger and Kanungo (1987) hypothesise that charismatic leadership will result in high internal cohesion, low internal conflict, high value congruence and high consensus. It is suggested that such assumptions are problematic since they downplay the multitude of conflicting goals, purposes and beliefs that organisational members hold in reality that seriously questions ideals of consensus and cohesion. Although Bass and Avolio (1994) acknowledge that followers hold a diverse set of views, needs and aspirations, they suggest that through the use of inspirational motivation the leader is able to align diverse followers around a vision. Thus there remains a belief that high consensus can be achieved and thus conflict, negotiation and politics that are inevitable in organisations tend to be marginalised. Notably, Barker (1997) reminds us of BurnsHYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb12HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739 volume=27issue=2articleid=1545747show=html#idb12s (1978) definition of leadership which emphasises leadership as a process which occurs within a context of competition and conflict. Interestingly, Basss theory of transformational leadership has built upon Burnss work and yet downplays this important dimension. It may be argued that assumptions of a unitary organisation may oversimplify the reality that is found in organisations. Similarly, systems-control thinking implies that the goals of the organisation are somehow fixed and once achieved the work of the leader is done. Again, this is seen to oversimplify the case. Conger and Kanungo, 1987, p. 46) exemplify a focus on achievement of fixed goals suggesting that one cannot lead when there is no future goal to pursue. This is seen to ignore the essentially emergent nature of organisational life in that organising and managing is in a constant state of becoming (Watson, 2002). The fluid and dynamic nature of organisations makes it difficult to envisage when there would be no future goal to pursue. Generally, given that models of transformational and charismatic leadership are framed by systems-control thinking means that they may be seen as less helpful in assisting managers to understand leadership as they do not do justice to the complex reality found in organisations. Recent leadership research and findings from our own work further suggest a number of issues with such theories that relate to this tendency to present an oversimplified and sometimes romanticised view of organisational life. The promotion of the superhero Consistent with systems-control thinking, theories of transformational and charismatic leadership present an individualistic conception of leadership, since there is a focus on the leader as a special person. Indeed, there is a focus on a gifted individual seemingly in possession of almost superhuman, magical powers that may be seen to spellbind followers to act in ways desired by the leader. Words such as extraordinary, unconventional and heroic typify a description of leader behaviours. Bass (1985, pp. 47-48) for example, highlights the extraordinariness of the transformational, charismatic leader suggesting that the unusual vision of charismatic leaders that makes it possible for them to see around corners stems from their greater freedom from internal conflict whereas the ordinary manager is a continuing victim of their self doubts and personal traumas. However, it is unclear from the literature what exactly it means to be extraordinary or unconventional and therefore limited hel p is offered to our practical attempts to teach leadership. Moreover, Alimo-Metcalfe HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb1et al.HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb1 (2002) argue that new theories of leadership create dangerous myths because they create a notion of leadership that is inaccessible to most ordinary mortals. Further, the idea that a leader must in some way be gifted shows a regression to notions of leadership as an innate ability and as such suggests little can be done by way of teaching leadership. Indeed, in my own auditing work, I found several managers who perceived leadership as an inspirational gift and therefore attempts to teach leadership were seen as limited: I dont think good leaders are people that you can, I think the term is a good leader is born, you cant turn somebody from being a poor leader into a good leader by putting them on some courses à ¢Ã¢â€š ¬Ã‚ ¦ that sort of inspirational skill is something that that individual has and I dont think you can always train that into somebody (project manager). Whilst the notion of heroic leadership may hold weight for some there is a growing body of evidence that debunks this leadership myth. Numerous studies are now found which may be said to contribute to an emerging anti-heroic leadership perspective which suggests leaders are not larger than life individuals with special powers rather they are far more ordinary and reserved. The work of Alimo-Metcalfe and Alban-Metcalfe (2001) offers a very different conception of transformational leadership to that described earlier. Their work highlights the salience of what the leader does for the individual such as empowering, valuing, supporting and encouraging. This is contrasted with dominant ideas of the leader acting as a role model and inspiring the follower. Indeed, Alimo-Metcalfe and Alban-Metcalfe suggest that followership, so central to transformational and charismatic leadership theory is absent in their work. Comments made by managers during my own audit work were consistent with this view with managers talking of supporting and encouraging others rather than inspiring followers: Well those things leadership can be a reassurance, a firm decision, a supportive decision, giving people encouragement, being actually prepared to stick your head above the parapet where other people arent sometimes. Being decisive rather than indecisive. Not always leading from the front but just letting people know that you are supportive of what they are doing that they can rely on you if things go wrong (operations director). Taking away the notion of followership diminishes the importance of the heroic leader since there is a decreased need for an inspirational figure to model the way for followers. Instead Alimo-Metcalfe and Alban-Metcalfe (2001) argue that their work suggests a greater sense of proximity, openness, humility and vulnerability. Collins (2001) provides evidence that suggests that successful organisations do not have leaders who are charismatic, heroic figures but rather individuals who display personal humility and professional will. He found that successful leaders which he terms level five leaders, were shy unpretentious, awkward and modest but at the same time had an enormous amount of ambition not for themselves but the organisation. Similarly, Badaracco (2001) suggests the importance of quiet leadership. This is seen not to inspire or thrill, but to focus on small things, careful moves and measured efforts. He further suggests that quiet leaders have an understanding of the reality of their situations noting the limits of their powers and understanding that they are only one piece on the chessboard. This emerging work would seem to conceptualise leadership in perhaps more realistic ways focusing attention away from ideas of inspirational powers and instead a suggestion of an ordinary person working alon gside others. This is consistent with a process-relational framing of leadership since it is recognised that leaders are like everybody else and do not possess special powers thus moving attention away from ideas of special personality attributes. Thus there is hope for the majority of being able to contribute to leadership and a suggestion that there may be some role for the management teacher. The isolated leader and the neglect of group processes The focus on the heroic leader is problematic since it diverts attention from others involved in the leadership process and thus downplays the relational aspects of leadership. Whilst the contribution of followers is noted, there is a tendency to over emphasise the ability of the individual leader, this is perhaps exemplified when poor performance is automatically blamed on the actions of the leader (Khurana, 2002). Yukl (1999) proposes that instead of focusing on a single person who influences followers, many people can be viewed as contributors to the overall process of leadership in organisations. He suggests that this conception of leadership does not require an individual who is exceptional or who can perform all of the essential leadership functions, only a set of people who collectively perform them. Research undertaken by Heifetz and Laurie (2001) supports the notion of a more collaborative conception of leadership. They suggest that the leader is not somebody who has all the solutions at their disposal; rather they are somebody who asks questions. They suggest that one can lead with no more than a question in hand. Research carried out with directors of public health in the UK supports the notion of focusing on others in the leadership process (McAreavey HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb28et al.HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb28, 2001). The directors of public health interviewed in McAreavey HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb28et al.HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb28HYPERLINK http://0-www.emeraldinsight.com.emu.londonmet.ac.uk/journals.htm?issn=0143-7739volume=27issue=2articleid=1545747show=html#idb28s (2001) study suggested that effective leadership placed an emphasis on working with others a nd not guiding others. These shifts in focus are consistent with work by Barker (1997) and Rost (1991) who suggested that we should be focusing on group processes and think of collaborators and not followers and thus is in accordance with Alimo-Metcalfe and Alban-Metcalfes rejection of followership. Yukl (1999) has criticised transformational and charismatic leadership theories for a neglect of group processes and thus salient aspects of leadership are overlooked such as networking, building support for ideas and negotiation. Such arguments echo Hosking (1988) who proposed that it would be more helpful to focus on leadership as a process rather than leaders as persons which is clearly to frame leadership in process-relational terms. It is suggested here that viewing leadership as a collaborative process of interaction provides for a more grounded notion of leadership and thus potentially provides more helpful suggestions for teaching leadership. For example, a focus on helping leaders in their attempts to negotiate seems more achievable than helping leaders to inspire others. The separation of leadership and management Inherent to theories of transformational and charismatic leadership is a notion that leadership is a specialised and separate activity undertaken by heroic, isolated figures described above. This division of leadership is typical of orthodox management thinking which separates issues of managerial work tending to view these as identifiable and distinct (Watson, 2002). As Schruijer and Vansina (2002) argue such splitting obscures the complexity of life. Further, there is a tendency not only to see leadership as separate from management but also superior. In Basss theory for example, management is associated with transactional leadership which is seen to be a useful but inferior leadership approach, which is relatively simple and straightforward to achieve. Bass (1985, p. 26) argues that to be transactional is the easy way out; to be transformational is the more difficult path to pursue. Such a separation is upheld by numerous scholars such as Zaleznik (1992) who suggests that managers are concerned with humdrum activities and maintaining order whereas leaders are concerned with novel and exciting activities and stimulate change. Mangham and Pye (1991, p. 13) have criticised this separation arguing that: It results in nothing more than a vague feeling that managing is something rather mundane, looking after the nuts and bolts of the enterprise and leading is something special and precious undertaken by the really important people in the enterprise. They argue that leading is not a specialised and separate activity, but simply an aspect albeit a highly salient aspect, of managing. Others have similarly suggested that leadership and management may be more usefully seen as related roles rather than as separate activities undertaken by separate people (Nadler and Tushman, 1990; Yukl, 1999).

Empowering Women Entrepreneurs To Drive Growth

Empowering Women Entrepreneurs To Drive Growth The term Entrepreneur covers individuals who have vision and skill and are capable of converting vision in to action for the good of the society. Due to changes in demand in the Market, there is a scope for a class of people on large-scale who can convert the available resources into good of society, called Entrepreneurs. So, a person who possess skill, initiative and innovative ideas for high achievements in business, and important qualities of an Entrepreneurship is taking the risk and making the necessary investments under the conditions of uncertainty. Entrepreneurship is a process of understanding opportunities in the environment, with respect to one`s own abilities, with a view to create wealth for oneself through a legal entity. A close relationship exists between opportunity and individual needs. To be an Entrepreneurial opportunity, a prospect must meet two tests: it must represent a desirable future state, involving growth or at least change and the individual must believe it is possible to reach that state. So, Entrepreneurship is understood by, being innovative, risk taking, dynamic, flexible, growth-oriented, creative, starting and operating new ventures. Now is the time for Women to venture into the Entrepreneurial world. Women owned businesses are highly increasing in the economies of almost all countries. The hidden entrepreneurial potentials of women have gradually been changing with the growing sensitivity to the role and economic status in the society. Skill, Knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Women Entrepreneur is a person who accepts challenging role to meet her personal needs and become economically independent. A strong desire to do something positive is an inbuilt quality of entrepreneurial women, who is capable of contributing values in both family and social life. With the advent of media, women are aware of their own traits, indulged in every line of business from pappad to power cables. The challenges and opportunities provided to the women are women of digital era are growing rapidly that the job seekers are turning into job creators. They are flouris hing as designers, interior decorators, exporters, publishers, garment manufacturers and still exploring new avenues of economic participation. In India although women constitute the majority of the total population, the entrepreneurial world is still a male dominated one. Women in advanced nations are recognised and are more prominent in the business world. 2010 was the first time ever there were more women in the work force than men. In terms of women-owned businesses, between 1997 and 2011 there was a 50% increase, while male owned business only grew 25% (According to American Express Report). Why Women make excellent Entrepreneurs in the Digital Age? How Women are dominating the entrepreneurs landscape and are using their skills to succeed. As times are tough for everyone, more families are moving towards dual-income households. Also technology advancements are making a virtual workplace attainable for women, who are looking to balance family and their career. In the digital landscape, women tend to possess certain skills that create a competitive advantage. Strong Communication Skills Social Intelligence. Good Listeners. Collaborative. Prefer Lower Risk. A dynamic Entrepreneurship sector is one of the various factors for prosperity of economy which is necessary to leverage the wealth and innovation capacity of the developed countries. This conceptual paper indicates and emphasizes the Women Entrepreneurs as the potentially emerging human resources in the 21st century to overcome the economic challenges in global perspective. Key Words: Entrepreneur: Individual holding vision for creating opportunity for economic growth. Challenges: Impediments on the way towards achievement of final goal. Opportunities: Chances for developing professionally or personally. Methodology: This is a concept paper and the researcher has adopted the method of reviewing different research articles, research journals and case studies to collect data about entrepreneurship and women entrepreneurship which is consequently incorporated as a concept paper drafted by the researcher. ******* INTRODUCTION TO ENTREPRENEUR/ENTREPRENEURSHIP: Entrepreneurship is often associated with a person who starts his own, new and small business, like manufacturing, transport, trade and all other self-employed vocations in the service sector. But not every new small business is Entrepreneurial or represents Entrepreneurship. In the early 1th century, the Frenchmen, who organised and led military expeditions were offered to ad Entrepreneur. Around 1700 A.D. the term was used for architects and contractors of public work. The term Entrepreneur was applied to business initially in the 18th century by the French Economist, Cantillon, who was designated as a dealer who purchases the means of production for combining them into marketable products. Another Frenchman, J.B. Say expanded Cantillon`s idea and conceptualized the Entrepreneur as a organizer of business firm, central to its distributive and productive functions. According to J.B Say, An Entrepreneur is the economic agent who unites all means of production, the labour force of the one and the capital or land of the others and who finds in the value of the produces which results from their employment, the reconstitution of the entire capital that he utilizes and the value of wages the interest and the rent which he pays as well as profits belonging to himself. According to current thinking, Entrepreneurship is the ability of a person who detects and evaluates a new situation in his environment and directs the making of such adjustment in the economic system as he deems necessary. The term Entrepreneur covers individuals who have vision and skill and are capable of converting vision in to action for the good of the society. Due to changes in demand in the market there is a scope for a class of people on large-scale who can convert the available resources into good of society, called Entrepreneurs. During the above process, the Entrepreneur nee ds to discharge several functions to succeed in his activities like, innovation, risk bearing, decision making, planning, controlling..etc. and should possess entrepreneurial skills like technical skills, managerial skills and personal skills. In India, the Entrepreneurial development programmes are taking place to develop entrepreneurs, like, sharpening individual behaviour and traits, guidance on project planning and development of business opportunities that come in the way, and developing managerial and operational capabilities. These activities are very important in the economic growth of the country. Since, the small-scale Industries are forming a major part of the economic growth of the country, the importance of the Entrepreneur is gaining momentum and they are the need of the hour to have a rapid economic growth. Entrepreneurship is not just confined to any one gender now rather due to multi-faceted economic pressures women have turned up and realized that the survival of their families their own potential lies only in working side by side with men. Marlow, (2002). Education of woman have no doubt given them immense confidence encouragement to serve discover new business avenues. However the ground realities do differ to a great extent as far as geographical boundaries are concerned. Globally women are considered as weaker gender physically and emotionally, therefore prospects open for them to develop into business professionals is an area still quite unexplored and needs attention. Wennekers, (1999). Overcoming the challenges of business world are no doubt more treacherous for women than their male counterparts, therefore they undergo various impediments to achieve their business success. Allen and truman, (1993). Fortunately due to technological advancement means of communication the world has turned into a global community which has created new channels opened up avenues for women to explore not only their potential aptitudes rather search for better business opportunities. Carter, (2001). ENTREPRENUERSHIP FOR WOMEN: A question arises here that what Entrepreneurship means for a woman? How a women conceives the idea of Entrepreneurship? Definition: An enterprise owned and controlled by women having a minimum financial interest of 51% of capital and giving at least 51% of employment generated in the enterprise to women. Women who think of a business enterprise, initiate it, organize and combine the factors of production, operate the enterprise and undertake risk and handle economic uncertainty involved in running a business enterprise. Why do Women Take-up Employment? Push Factors Death of bread winner Sudden fall in family income Permanent inadequacy in income of the family Pull Factors Women`s desire to evaluate their talent To utilize their free time or education Need and perception of Women`s Liberation, Equity etc. To gain recognition, importance and social status. To get economic independence Third category Illiterate women Financially week Involved in family business such as Agriculture, Horticulture, Animal Husbandry, Dairy, Fisheries, Agro Forestry, Handloom, Power loom etc. INDIAN SCENARIO: The Indian woman play very many roles, pure, supreme or virtues to vice or downtrodden. Constantly, the role is also undergoing several changes. While playing their role, Indian Women are confronted with contradictions. Because of these contradictions, they are unable to identify themselves with the society. The attitude, perceptions, roles..etc of Indian Women look like an assembly of diverse fragments. This perplexed situation of Indian women has made it very difficult to define their roles and they cannot identify their roles for themselves. Because of this plain truth assuming the role of entrepreneur and leadership for an Indian Women was a difficult task. But still times have changed. The present society is freeing the Indian Women from the chains and shackles of centuries. This is slow but definitely shift over is happening for the following reasons: The concept of Globalization is accepted in a big way. The sudden emerging trend in information technology and its percolation to every segment of life. Adoption of diversified culture in the Indian society due to globalization and other inherent ethos of Indian society. Unexpected happenings around the world and their impact on Indian society. Change in socio-cultural context due to increased education for women since independence. Change in political ideology and governance of the country. But, In India, the role of Women Entrepreneur is no less significant. Nearly 9% of total Entrepreneurs in small industries are women entrepreneurs. State-wise distribution shows a wide variation between different states. Punjab accounts for 3%, Gujarat occupies the top position with 15%. The areas chosen by women are retail trade, restaurants, hotels, education, cultural, cleaning, insurance and manufacturing. GROWTH PATH: Women owned businesses are highly increasing in the economies of almost all countries. The hidden entrepreneurial potentials of women have gradually been changing with the growing sensitivity to the role and economic status in the society. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Women Entrepreneur is a person who accepts challenging role to meet her personal needs and become economically independent. A strong desire to do something positive is an inbuilt quality of entrepreneurial women, who is capable of contributing values in both family and social life. With the advent of media, women are aware of their own traits, rights and also the work situations. The glass ceilings are shattered and women are found indulged in every line of business from pappad to power cables. The challenges and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into job creators. They are flourishing as designers, interior decorators, exporters, publishers, garment manufacturers and still exploring new avenues of economic participation. In India, although women constitute the majority of the total population, the entrepreneurial world is still a male dominated one. Women in advanced nations are recognized and are more prominent in the business world. In nineteen seventies, Women entrepreneurship began in is real sense. By this time, the first generation after Independence had completed their education. Educated women to fulfil their aspirations and ambitions began opting for self-employment. This was an active step not taken out of compulsions or helplessness, but with zeal to make a better life. In this decade, women were in transition period. They could not come out fully from traditional activities of looking after home, their in-laws, parents, husbands and children. A t the same time they has to get into autonomous economic activities. This was a challenge. Eighties and Nineties saw a sea change in women entrepreneurship domain. These were the decades of the breakthrough for women to become entrepreneurs in many fields. They developed courage to make new beginnings. Parents also developed a new thinking. The traditional practice of making only progeny as a business partner in family owned businesses, (law of Inheritance supporting this), parents started their own consultancy houses, providing different types of technical services. Parents started taking their female children as partners in their businesses. Government also supported this new thinking by making amendments to Succession Act. Legislations said that both male and female have equal rights in the inherited property. This coupled with professional education made young ladies to get into self employment. Many became partners in their family owned business. Good number of lady doctors opened their own clinics. Engineering graduated started their own consultancy houses, providing different types of technical services. They also got into service areas like CA, Advocates, Hospitality business and good number opened secretarial offices. Good percentage of women took to small business activities. Today we can see many women entrepreneurs in small business. In earlier Five year plans, women entrepreneurship concept was not significantly considered. Only in recent plans, particularly after Eight Five Year Plan, Women Empowerment concept came to lime light. From this plan onwards, women started working on new frontiers. The new generation of women did not think on the lines of their mothers. They stated developing independent activities. They had aspirations and ambitions. Taking to self-employment was not out of compulsion or helplessness. It became a desired choice of many ladies to design and develop their own enterprise. Women started thinking that self-employment as an integral aspect of their life. They started thinking on the lines selecting their own careers. Adopting own occupation for income generation without deviating much from the social system is becoming a key factor in a woman`s life. Besides having home and children, women have started thinking to have an independent occupation. While accepting the traditional people behaviour, from older generation, women today expect understanding and support from their husbands and children to have their occupational choice. As entrepreneurs, women want their voice to be heard as leaders, as they are capable of contributing to the growth and success of their enterprise. But the Indian women entrepreneurs are facing some major constraints like a) Lack of confidence: In general, women lack confidence in their strength and competence. The family members and the society are reluctant to stand beside their entrepreneurial growth. To a certain extent, this situation is changing among Indian women and yet to face a tremendous change to increase the rate of growth in entrepreneurship. b) Socio-cultural barriers: Womens family and personal obligations are sometimes a great barrier for succeeding in business career. Only few women are able to manage both home and business efficiently, devoting enough time to perform all their responsibilities in priority. c) Market-oriented risks: Stiff competition in the market and lack of mobility of women make the dependence of women entrepreneurs on middleman indispensable. Many business women find it difficult to capture the market and make their products popular. They are not fully aware of the changing market conditions and hence can effectively utilize the services of media and internet. d) Motivational factors: Self motivation can be realized through a mind set for a successful business, attitude to take up risk and behaviour towards the business society by shouldering the social responsibilities. Other factors are family support, Government policies, financial assistance from public and private institutions and also the environment suitable for women to establish business units. e) Knowledge in Business Administration: Women must be educated and trained constantly to acquire the skills and knowledge in all the functional areas of business management. This can facilitate women to excel in decision making process and develop a good business network. f) Awareness about the financial assistance: Various institutions in the financial sector extend their maximum support in the form of incentives, loans, schemes etc. Even then every woman entrepreneur may not be aware of all the assistance provided by the institutions. So the sincere efforts taken towards women entrepreneurs may not reach the entrepreneurs in rural and backward areas. g) Exposed to the training programs: Training programs and workshops for every type of entrepreneur is available through the social and welfare associations, based on duration, skill and the purpose of the training program. Such programs are really useful to new, rural and young entrepreneurs who want to set up a small and medium scale unit on their own. h) Identifying the available resources: Women are hesitant to find out the access to cater their needs in the financial and marketing areas. In spite of the mushrooming growth of associations, institutions, and the schemes from the government side, women are not enterprising and dynamic to optimize the resources in the form of reserves, assets mankind or business volunteers. Highly educated, technically sound and professionally qualified women should be encouraged for managing their own business, rather than dependent on wage employment outlets. The unexplored talents of young women can be identified, trained and used for various types of industries to increase the productivity in the industrial sector. A desirable environment is necessary for every woman to inculcate entrepreneurial values and involve greatly in business dealings. The additional business opportunities that are recently approaching for women entrepreneurs are: à ¢Ã¢â€š ¬Ã‚ ¢ Eco-friendly technology à ¢Ã¢â€š ¬Ã‚ ¢ Bio-technology à ¢Ã¢â€š ¬Ã‚ ¢ IT enabled enterprises à ¢Ã¢â€š ¬Ã‚ ¢ Event Management à ¢Ã¢â€š ¬Ã‚ ¢ Tourism industry à ¢Ã¢â€š ¬Ã‚ ¢ Telecommunication à ¢Ã¢â€š ¬Ã‚ ¢ Plastic materials à ¢Ã¢â€š ¬Ã‚ ¢ Vermin-culture à ¢Ã¢â€š ¬Ã‚ ¢ Mineral water à ¢Ã¢â€š ¬Ã‚ ¢ Sericulture à ¢Ã¢â€š ¬Ã‚ ¢ Floriculture à ¢Ã¢â€š ¬Ã‚ ¢ Herbal health care à ¢Ã¢â€š ¬Ã‚ ¢ Food, fruits vegetable processing Empowering women entrepreneurs is essential for achieving the goals of sustainable development and the bottlenecks hindering their growth must be eradicated to entitle full participation in the business. Apart from training programs, Newsletters, mentoring, trade fairs and exhibitions also can be a source for entrepreneurial development. As a result, the desired outcomes of the business are quickly achieved and more of remunerative business opportunities are found. Henceforth, promoting entrepreneurship among women is certainly a short-cut to rapid economic growth and development. Let us try to eliminate all forms of gender discrimination and thus allow women to be an entrepreneur at par with men. Women Entrepreneurs in the Digital Age: Why Women Make Excellent Entrepreneurs in the Digital Age 2010 was the first time ever there were more women in the work force than men. In terms of women-owned businesses, between 1997 and 2011 there was a 50% increase, while male-owned business only grew by 25% ( American Express report). Women are dominating the entrepreneur landscape and are using their skills to succeed. HOW.WHY ? As times are tough for everyone, more families are moving towards dual-income households.(as briefed above with push and pull factors) Also, technology advancements are making a virtual workplace attainable for women, who are looking to balance family and their career. By creating a more mobile environment, flexibility is achievable . Womens Competitive Edge: In the digital landscape, there is a stronger growth in women entrepreneurs than men, they could use these skills, many naturally possess, to achieve success. The studies conducted by many scholars with reference to Women competitive edge, believes women tend to possess certain skills that create a competitive advantage like, Strong Communication Skills Social Intelligence Good Listeners Ambitious Enthusiastic Patience Determination to Excel Collaborative Prefer Lower Risk Do womens strong communication and social skills make them more equipped to thrive in our post-industrial digital age? In short, do women have specific skills whether the result of biology or social conditioning that can help them succeed as entrepreneurs? The review of literature reveals, helping entrepreneurs and small business owners launch their brands, It is strongly believed there are several traditionally feminine leadership qualities that are more significant now than ever. 5 reasons why women make great entrepreneurs in the digital era: Is todays business environment more aspiring for female entrepreneurs? Take a look at the points below and let us know whether you think theyre true or not. 1. Women possess strong communication skills and social intelligence. The digital economy requires these skills, and women enjoy a slight edge over their male counterparts (according to numerous studies). 2. Women make good listeners. Whether due to biology or cultural conditioning, women tend to be better listeners and are stronger at drawing people into conversation. This translates to several advantages for the entrepreneur, who can better attune herself to customer needs and build more effective teams of employees, contractors and partners. In fact, many women entrepreneurs often describe building their business as building a team. 3. Women collaborate. Women have worked well together since the earliest female enterprises, whether dividing grains in the village or working in quilting bees. Even some of todays cultural stereotypes have legs, for instance, womens joint trips to the restroom! A 2009 Time magazine article by Claire Shipman and Katty Kay says, [Women are] consensus builders, conciliators and collaborators, and they employ what is called a transformational leadership style heavily engaged, motivational, extremely well suited for the emerging, less hierarchical workplace. The article, entitled Women Will Rule Business, cited projections from the Chartered Management Institute in the UK. Looking ahead to 2018, CMI believes the work world will be more fluid and virtual, and the demand for female management skills will be stronger than ever. 4.Women prefer lower risk. Researchers have begun focusing on the relationship between testosterone and excessive risk, thus evaluating whether groups of men spur each other toward reckless decisions. Whether testosterone influences decision-making or not, research shows that, as a whole, women prefer lower risk opportunities and are willing to settle for lower returns. Virtual workplaces and digitally mobile lifestyles give aspiring women entrepreneurs the flexibility to achieve the balance between work and family. Digital tools mean that women can now build a business from home and create unique work schedules. Risk aversion may go hand-in-hand with motivations for starting a business. A 2007 study from the Small Business Administration (Are Male and Female Entrepreneurs Really That Different?) observes the differences between male and female entrepreneurs in the U.S. The results found that male owners are more likely to start a business to make money, and have higher expectations for their business. Women are more likely to prioritize that business and personal lives work in harmony. The digital age offers a wealth of low-risk opportunities. Ventures like blogging, web-based services, e-commerce and software development require smaller upstart costs than manufacturing-based, brick and mortar type businesses. Cloud-based tools and virtual workforces further lower the cost of entry, making the idea of starting a business more feasible and/or palatable for risk-averse entrepreneurs. But a strength can also be a weakness. Yes, the tendency to minimize risk can lead to higher success rates for female entrepreneurs. However, risk-phobia can also mean women are more likely to limit the size of their businesses, and less likely pursue outside funding from investors to fuel growth. On an average, men-owned firms are larger than women-owned firms. Its up to each individual business owner to define the goals of his or her business. If a woman chooses to pursue a smaller business venture that lets her balance her business and personal life in more harmony, more power to her. For now, I think we should celebrate the growth in women entrepreneurs, but also wonder if woman-owned high growth startups are an under-utilized resource in our economy. Its time we made space for the underdog if that term even applies anymore. What do you want to say? Click here to cancel reply. Next generation of female entrepreneurs at heart of business The next generation of entrepreneurs bucking the economic trend by putting values back at the heart of business. And women are giving men a run for their money. The successful female social entrepreneurs as role models for women in business and aspiring female entrepreneurs. Unlike the private sector, women who set up and run a business with a social or community purpose are as widespread as their male counterparts. At the risk of generalizing, women have a real advantage in leadership that might be a great advantage in the business world. They can act and lead while staying tuned into their colleagues. Being confident enough to use that is crucial. Women leaders shouldnt try to be one of the guys. They can use their natural gifts to their advantage. Sam Baumber, Business Development Manager at the Social Enterprise Academy says that female social entrepreneurs are the role models for business leaders in the current economic climate. Women who are leading successful social enterprises are role models for women thinking about setting up their own business. In the current climate social enterprise is thriving and these inspiring women prove that values of team work and emotional intelligence that women often bring as leaders can help build successful and resilient businesses. Many of our graduates who started with an idea and burning passion and have developed into leading female social entrepreneurs in India and we hope their success stories will help others with an idea to make it happen. « Fewer matches  « Fewer matches  « Fewer matches  « Fewer matches Women in Business Challenge 2013: Empowering Women Entrepreneurs to Drive Growth-some success stories: 1st Successful Women Entrepreneur: Priyanka Malhotra. Priyanka Malhotra is successful women entrepreneur in India. She is operating the business of book publishing and also devotes her time in cafe business. She did graduated in printing and publishing from London college of publishing. She also holda the degree of M.Sc in media and communication field. After this, she came to India and became successful business women in Delhi. Priyanka thinks differently about the idea of scaling her businesses. 2nd Successful Women Entrepreneur- Bhawana Kakkar: Bhawana Kakkar is young graduate women in painting and arts. She did also postgraduate in Art history from Baroda University. She has huge experience in fashion designing in India and she opened Art gallery. She is also publishing magazine named Take-Simple Black. 3rd Successful Women Entrepreneur Manju Bharatram: Mr. Manju Bharatram was a simple child for whom school wasn`t happy experience. Just like many other. And the day she saw her own children feeling the same as well, she became a social entrepreneur. 4th Successful Women Entrepreneur Rajashree Birla: Rajashree Birla is a successful women entrepreneur and chairperson of Aditya Birla Centre for Community and rural development. Her focus is on the all-round development of the communities around our plants located mostly in distanct rural and tribal belts. All our group companies, Grasim, Hindalco, Aditya Birla NMuvo, Indo Gulf and Ultra Tech have Rural Development Cells which are the implementation bodies. 5th Successful Women Entreprenuer-Shruti: Shruti is a degree holder in Chemistry from University of Pennsylvania and she did worked with Merrill Lynch. She came back India after in USA and started her own hotel business and became a successful women entrepreneur in India.  « Fewer matches  « Fewer matches  « Fewer matches  « Fewer matches Conclusion Entrepreneurship is presently the most discussed and encouraged concept all over the world to overcome economic challenges. Women being the vital gender of the overall population have great capacity and potential to be the contributor in the overall economic development of any nation. Therefore, programs and policies need to be customized to not just encourage entrepreneurship as well as implement strategies which can help support entrepreneurial culture among youth. Media has the potential to play the most vital role in entrepreneurial development by creating and highlighting all such platforms which can bring out the creativity and innovation among the women and men to grow entrepreneurship culture in society. Developing countries are definitely in dire need to encourage women entrepreneurship as women workforce is promptly available to exploit the unexplored dimensions of business ventures. Developed nations should primarily focus on entrepreneurial educational programs in order t o develop women entrepreneurs.

Essay on Aristophanes’ Lysistrata :: Lysistrata

The Lysistrata Aristophanes was a "craft" comedy poet in the fourth century B.C. during the time of the Peloponnesian War. Aristophanes' usual style was to be too satirical, and suggesting the outlandish. He shows little mercy when mocking Socrates and his "new-fangled ideas" which were most likely designed to destroy the cohesiveness of society and lead to anarchy, in his play The Clouds. The most absurd and humorous of Aristophanes' comedies are those in which the main characters, the heroes of the story, are women. Smart women. One of the most famous of Aristophanes' comedies depicting powerfully effectual women is the Lysistrata, named after the female lead character of the play. It portrays Athenian Lysistrata and the women of Athens teaming up with the women of Sparta to force their husbands to end the Peloponnesian War. To make the men agree to a peace treaty, the women seized the Acropolis, where Athens' financial reserves are kept, and prevented the men from squandering them further on the war. They then beat back an attack on their position by the old men who have remained in Athens while the younger men are out on campaign. When their husbands return from battle, the women refuse to have sex with them. This sex strike, which is portrayed in a series of exaggerated and blatant sexual innuendoes, finally convinces the men of Athens and Sparta to agree to a peace treaty. The Lysistrata shows women acting bravely and even aggressively against men who seem resolved on ruining the city-state by prolonging a pointless war and excessively expending reserves stored in the Acropolis. This in turn added to the destruction of their family life by staying away from home for long stretches while on military campaign. The men would come home when they could, sexually relieve themselves, and then leave again to continue a senseless war. The women challenge the masculine role model to preserve the traditional way of life of the community. When the women become challenged themselves, they take on the masculine characteristics and attitudes and defeat the men physically, mentally but most of all strategically. Proving that neither side benefits from it, just that one side loses more than the other side. It's easy to see why fourth century B.

nature and foundations of australian law Essay -- essays research pape

The nature of law in Australian society is both complex and dynamic. The case of McBain v Victoria and the historical analysis of the legal response to Indigenous Australians in the 200 years following British colonization informs an understanding of the nature of law in Australian society, while also revealing characteristics of Australia’s constitutional framework. An understanding of the nature of law in Australian society is informed by the McBain v Victoria case, which illustrates the dual function of law as a chronicle of social narrative and personal stories and institutionally as an instrument for social order and dispute resolution. In this case the concept that law operates in ‘different ways at various levels’ shows that law is a fundamental aspect of daily of life in Australian society. It also suggests that law is intertwined with social conflict, changing values and political issues and that despite the legal ideal of autonomy law reflects these values and is also influenced by them. In McBain v Victoria, the unmarried Ms Meldrum sought access to IVF technology treatment from Dr McBain. However, McBain was precluded from treating Meldrum due to legal regulations located in s 8(1) of the Infertility Treatment Act 1995 (Vic) (State Act), which was exclusive in permitting treatment of only married women or women living in genuine de facto relationships. The exclusion of unmarried and lesbian women prescribed by the State Act reflects the perceived societal value o...

french politics :: essays research papers

Louis was dignified and imposing with charming manners, but he was also hard working, patient and self-disciplined with an iron physical constitution. He maintained a strict routine of official business, every day. Short of height, he was of modest intelligence (not much helped by his upbringing undertaken largely by his servants) and lacking of a sense of humor. Possessed of a colossal pride, he loved grandeur, glory, military reviews and petty details (uniforms, equipment, drill). Louis was the epitome of the absolute monarch and embodied the idea of divine right monarchy. As God's representative on earth, he felt that he was due respect and that his word was law; he was responsible to God alone. As an absolute monarch, Louis XIV wielded unlimited authority with all decisions made by him; however, it was not despotism nor arbitrary power, as kings still had to justify their actions to churchmen, entrepreneurs and nobles. Having taken the reigns of government, Louis now had to contend with the nobility, church, bureaucracy and the rest of Europe to achieve his idea of France. The chief opposition to the central monarchy was the French, feudal nobility. The king continued the process of destroying the nobility as a class by increasing the use of commoners to run the state and by establishing Versailles as a seventeenth-century "Disneyland" to keep the nobility occupied with non-political amusements after the court moved there in 6 May 1682. To solidify support from the church, Louis acted in a highly favorable manner. In 1685, the L'Edit de Fountainbleau revoked the Edict of Nantes, and Huguenots, forbidden to practice, left France in droves. On one hand, this created religious unity within France and secured the friendship of the church, but, on the other hand, it aroused the implacable hatred of Protestant states and deprived France of some of its most industrious citizens. To create a more responsive and effective bureaucracy, Louis instituted new administrative methods to strengthen his control. Weekly ministerial conferences Continuity in the top four ministries (finance, army, navy, public works), only sixteen ministers in fifty-four years of his personal reign Ministers chosen by ability not birth Intendants continued to rule the 36 generalità ©s (provinces)--but they never served where they were born Financial reform of taxes Colbert, as controller general, worked to improve the French economy through a policy called mercantilism--state intervention to create a self-sustaining economy. Colbert used an aggressive tariff policy to manipulate the import of raw materials and the export of manufactured goods to improve the balance of payments. french politics :: essays research papers Louis was dignified and imposing with charming manners, but he was also hard working, patient and self-disciplined with an iron physical constitution. He maintained a strict routine of official business, every day. Short of height, he was of modest intelligence (not much helped by his upbringing undertaken largely by his servants) and lacking of a sense of humor. Possessed of a colossal pride, he loved grandeur, glory, military reviews and petty details (uniforms, equipment, drill). Louis was the epitome of the absolute monarch and embodied the idea of divine right monarchy. As God's representative on earth, he felt that he was due respect and that his word was law; he was responsible to God alone. As an absolute monarch, Louis XIV wielded unlimited authority with all decisions made by him; however, it was not despotism nor arbitrary power, as kings still had to justify their actions to churchmen, entrepreneurs and nobles. Having taken the reigns of government, Louis now had to contend with the nobility, church, bureaucracy and the rest of Europe to achieve his idea of France. The chief opposition to the central monarchy was the French, feudal nobility. The king continued the process of destroying the nobility as a class by increasing the use of commoners to run the state and by establishing Versailles as a seventeenth-century "Disneyland" to keep the nobility occupied with non-political amusements after the court moved there in 6 May 1682. To solidify support from the church, Louis acted in a highly favorable manner. In 1685, the L'Edit de Fountainbleau revoked the Edict of Nantes, and Huguenots, forbidden to practice, left France in droves. On one hand, this created religious unity within France and secured the friendship of the church, but, on the other hand, it aroused the implacable hatred of Protestant states and deprived France of some of its most industrious citizens. To create a more responsive and effective bureaucracy, Louis instituted new administrative methods to strengthen his control. Weekly ministerial conferences Continuity in the top four ministries (finance, army, navy, public works), only sixteen ministers in fifty-four years of his personal reign Ministers chosen by ability not birth Intendants continued to rule the 36 generalità ©s (provinces)--but they never served where they were born Financial reform of taxes Colbert, as controller general, worked to improve the French economy through a policy called mercantilism--state intervention to create a self-sustaining economy. Colbert used an aggressive tariff policy to manipulate the import of raw materials and the export of manufactured goods to improve the balance of payments.

Koito Case

Koito-Pickens-Toyota Case Question 1 The Japanese corporate governance system differs vastly from the US system. Discuss corporate governance issues that may arise under the Japanese keiretsu. The corporate governance system in Japan is widely different from the US one insofar as it mostly involves a unique business model called â€Å"Keiretsu†. A Keiretsu is a form of corporate structure that groups a set of companies with interlocking board of directors and common business interests. Thus, due to its particular structure, some governance problem may arise under this Japanese Keiretsu: ) Issues from the perspectives of financiers Because the business is considered almost like an extended family, the financing may become political and the Japanese Keiretsu will almost always give favor to members of their Keiretsu. This could lead the financiers, for instance, to finance a company member of their Keiratsu they wouldn’t have finance otherwise. As far as the potential fin anciers are concerned, the main issue is the difficulty to enter and invest in the Keiretsu. Getting financial information about the Keiretsu firms could be complicated insofar as the financial and accounting statements are not disclosed.Thus, such discretion could lead to an ambiguity or a lack of understanding from an outside perspective. Actually, the keiretsu are just trying to protect themselves from what they fear the most that is to say the yakuza and the greenmailing. b) Issues from the perspectives owners As mentioned above, the keiretsu are suspicious towards the â€Å"outside† and this behavior may make foreign owners face some difficulties. Because the keiretsu system is much more in favor of inside shareholders than the outside ones, the former may find some difficulties to make the most of their shareholder rights.And this can maybe explain why the outside shareholders are often a minority in comparison with the shareholders of the keiretsu. Moreover, even if on e of the outside owners becomes the biggest one, as T. Boone Pickens did, he may not be able to use his rights as he hoped. c) Issues from the perspectives suppliers One of the main issues for external suppliers is to the relationship between OEMs and suppliers that often leads to dumping on the prices and enables the outside supplier to compete with such cheap prices.As far as the integrated suppliers are concerned, the exclusive partnership with the keiretsu they belong enables them to do business with another leading firm and to gain market shares. d) Issues from the perspectives employees On the one hand and in case of horizontal integration, the very structure of a Keiretsu can lead into a confusion in management. The management transfers are so frequent that employees do not understand for which company they really work for is. One the other, the strong stability that comes out from this system could lead to a lack of action and performance from employees. Question 2What were T. Boone Pickens’ motives when he bought the share? In the eyes of many, Mr. Pickens was only acting as a front man for Mr. Watanabe, a well-known green mailer in order to pave a way to gain power and control over the corporation. Mr. Pickens denies all these accusations of greenmailing by claiming that he bought the share to carry out a â€Å"test case† in order to evaluate the accessibility of the market. In others words, his initiative has the only aim of checking whether the United States could make, in the future, profitable investments in Japan depending of the degree of welcome of the market.Moreover, it is not implausible to think that one motive of T. Boone Pickens was the quest of profit. It should be borne in mind T. Boone Pickens targeted Koito as an undervalued investment opportunity in so far as he anticipated a Koito stock rise due to the tight link between Toyota and Koito. The good performances of Koito stock combined with the rise of the net income an d sales reinforce this idea due to the fact that the shareholder’s average annual return has impressively increased. So the pursuit of rise of the dividends could have motivated him to buy the share.As the largest shareholder of Koito Manufacturing, is he entitled to representation on the board, does Japanese law allow for that? If not what in the law could he use to get an equivalent result? With 26. 4% of stock, T. Boone Pickens should have been entitled to representation on the board of Koito insofar as the Japanese law gives him rights due to the fact that he owns more than 10% of stock. But not so in the Japanese Keiretsu point of view. He was overwhelmingly denied board access in a 1989 annual meeting. †¦It is not a custom in Japan just to say, ‘I’ve become a major shareholder so I should become director. ’†, said Takao Matsuura, president Koito Manufacturing Ltd. There are reasons to wager that his seat on the board was compromised by the fact that the company considers him as a greenmailer. Knowing that T. Boone Pickens was planning to increase his stake to 30%, he could obtain board representation by acquiring 4% more than what he expected. In fact, the Japanese law states that those with at least 34% ownership could propose special shareholder resolutions.An alternative would be to establish a new relationship between Mr. Pickens and all the members of the keiretsu based on loyalty and transparency. They would not suspect him of greenmail anymore. We can suppose that T. Boone Pickens has chosen this way insofar as he supported the adoption of a proposal prohibiting Koito from paying greenmail. Question 3 Besides board representation, T. Boone Pickens demanded higher dividend payouts. Were his demands justified? Provide quantitative evidence to back your answer. Besides board representation, T.Boone Pickens asked for higher dividend payout saying that â€Å"Boone Co’s philosophy was to put stockholder inte rests first† (page 7) and in this very case, his demand for a higher dividend can be justified. Indeed, when we look at the dividend payout ratio for the period 1982 – 1985 (Table 1), it decreases meanwhile the retained earnings was increasing (Table 2). Moreover, at the same period, the proportion of cash was also increasing. In others words, the retained earnings were not invested enough and stay as cash.Then in 1986, we noticed that the payout ratio increased up to 39% and at the same time the retained earnings and the cash goes strongly down. Finally, almost the same phenomenon is observed between 1988 and 1990. In other words, the payout ratio is not positively correlated to the retained earnings which are not invested and stay as cash. Table 1 Table 2 Is there anything in the Japanese commercial code that would allow Pickens to try to get more dividends? If yes, why doesn’t he use this? If not, based on your experience as an international investment banker, what changes would you recommend him to propose?In order to increase dividends, T. Boone Pickens had several solutions. Indeed, many researches on the conflicts of interest between majority and minority shareholders show that dividend  payout  is negatively related to ownership concentration and support the assumption that large shareholders do not appear to use dividend policy to remove excess  cash. In other words,  firms with concentrated ownership are less likely to increase dividends when profitability increases and more likely to omit dividends when investment opportunities improve. So, T. Boone Pickens could decrease the ownership concentration of Koito.There are also some more aggressive solutions to get more dividends. T. Boone Pickens could increase his shares ownership in order to increase his decision power in the General Assembly insofar as â€Å"a owner of 34% or more of the outstanding stock could propose special shareholder resolutions†. Question 4 Pi ckens accused Toyota of limiting profits earned by Koito Manufacturing. Explain how the mechanism works? This mechanism is related to the very structure of keiretsu insofar as Toyota, like most Japanese OEM, owns equity positions in its suppliers.In 1986 almost half of Koito’s output was bought by Toyota and at the same time, Toyota has built a dominant position over Koito by having a 19%-part of Koito’s ownership. Therefore, Toyota was not just one of Koito’s customers but also one of its owners. Through its powerful influence and thanks to the close and informal relationship between Toyota and its suppliers, the car manufacturer had been able to negotiate supply contracts, lower prices and then limited profits earned by Koito. Is this a self-dealing transaction? According to Steven L.Emanuel (â€Å"Corporations†, 2009), a self-dealing transaction occurs when three following conditions are met : (1) A key player (officer, director or controlling sharehol der) and the corporation are on opposite sides of a transaction, (2) The key player has helped influence the corporation’s decision to enter the transaction (3) The key player’s personal financial interests are at least potentially in conflict with the financial interests of the corporation. In the case of Koito, 3 members out of 23 are Toyota’s executives.Even if these 3 members are no longer Toyota’s executives, the Japanese notion of loyalty and the business relations between Toyota and Koito (Toyota buy 48% of Koito’s output) could imply that these three chairmen could act in favor of Toyota or at least try to satisfy the two companies. And in this way, the supplier was treated unfairly and conflicts of interests might have occurred. If Pickens gets access to financial information, how can he set out to prove his accusations? If you were an investment banker, what accounts or data would you tell him to scrutinize.If Pickens gets access to finan cial information, he could analyze the Income Statement and compare the evolution of the growth of sales and the growth of gross profit over these past years. Generally, sales and gross profit evolve in the same direction unless there is a below cost-selling. However, here we noticed for example that in 1986, as sales had grown by almost 10,2%, gross profit had grown by 7% and that in 1990, when the sales had grown by 10. 85%, gross profit had only grown up by 2. 8%. Such comparisons could be setting off alarm bells and could point out the fact that Toyota is limiting profits earned by Koito Manufacturing.On the other hand and if he can, he could also compare directly the price of goods sold to Toyota with the price of the same goods sold to minor customers such as Hino Motors. A high difference between the two prices combined with the fact that three directors of Koito are retired Toyota executives, would prove these â€Å"self dealing transactions†. Would you suggest to cha nge the charter of the organization of Koito? As investment banker, I would suggest him to analyze thoroughly the income statements and the supply contracts between Toyota and Koito in details to reinforce his accusations.As far as the charter of the organization of Koito is concerned, I would suggest to add a clause which enables a person somehow related to a strong customer or a strong supplier to be appointed as director to Koito’s board of directors. Question 5 Toyota has threatened to cut all ties with Koito Manufacturing if Pickens take over the company. How would this affect Pickens investments? If you were a minority shareholder in Koito Manufacturing, whose side would you take? Calculate the value of your shares with or without Toyota.Because Toyota is the second largest shareholder in Koito and is its principal customer, representing 48% of the total sales (Exhibit 2), we may think that cutting ties with Koito Manufacturing will lead to huge losses, at least in the first year. Let’s then calculate the value of a share with and without Toyota. In order to use the Discounted Cash Flow methodology, here are the assumptions we made : * The value of the firm is equal to the value of the discounted cash flows for the next four years plus it’s terminal value. The same growth is expected for the coming four years (this growth was calculated as the mean of the previous years growth) * Because the lack of information concerning the cost of equity we used today Koito’s beta (1. 38), a risk free rate of 3% and a Rm of 10% (return on S&P) in order to calculate an approximative WACC. Our calculations provide us with a WACC of almost 8%. With Toyota : Without Toyota : If I were a minority shareholder I would probably take Pickens’ side because he puts shareholder interests first.However, I would be careful and make sure that making stockholders’ interest first instead of company’s one will not damage the entityâ€⠄¢s wealth. Based on your assessment of the case, are large shareholders an effective solution to corporate gouvernance problem? Based on the analysis of this case, it appears that being a large shareholder is not necessarily an effective solution to the corporate governance problem. Indeed, even if T. Boone Pickens is the largest shareholder, he actually has no influence on â€Å"management issues† including those which concern the amount of dividends paid.