The Impact of Family Ownership on Financial Performance Essay

The Impact of Family Ownership on Financial Performance - Essay Example Another problem with application of the data to test the equation is possible existence of other variables that the used data failed to control. While the research focused on studying effect of family ownership on performance, many factors to organizational performance exist that could confound the analysis results. Ensuring control was therefore necessary and could be achieved through identification of possible confounding variables and analyzing organizations with similar levels measurement of the variables. Analysis of potential effects of the variables for adjustment measures would also remedy their confounding effect to ensure suitability of the data in testing the model. Small sample size is another problem that that testing the model with the data faces. External validity is a significant factor to quantitative research and defines the potential to generalize findings from a sample to a population. The measure is directly proportional to sample size and the small sample size m eans that developed information and conclusion from the analysis cannot be inferred to performance of the categories of companies in Hong Kong. This limits the scope of qualitative research and renders the analysis ineffective (Hays and Singh, 2011). The probability value for the coefficient estimate informs the decision on its statistical and economic relevance. The probability value of 0.15, which is relatively small, means that the coefficient estimate for the relationship is statistically significant for an 80 percent confidence interval. This high probability cannot be ignored and justifies the decision for statistical relevance. Statistical significance is however more precise than economic significance by observing set limits for the significance. Contrary to this, economic significance exists even with a minimal probability of occurrence, as well as there is a chance. A probability of 0.15 for beta means a probability of 85 percent exists for a

Article Summary Essay Example | Topics and Well Written Essays - 250 words - 9

Article Summary - Essay Example The organization experienced alienation of 15 members of the organization within the first two years since it started operating. The author even states that the committee does not believe that the problems faced by the organization are huge and the problem has helped in replacing employees who were less interested in working for the organization with employees who are more interested. The managers of the organization have failed to carry out their function of organizing in a successful manner. They have failed to obtain human resources that are necessary for the attainment of the organization’s objectives. The organization is experiencing decline in number of members due to which various tasks are not being completed as they are required to an the organization is failing to meet its objectives. The managers have even failed to design the jobs of the employees in a proper manner because due to limited staff, one member of the organization has to carry out various tasks. The managers might even be failing to departmentalize the organization because they may not have enough members to completely fill the department and one member within the department might be carrying out various tasks. Bailey, Ian. "Report Finds B.C. Police Watchdog Facing Human Resources Issues." The Globe and Mail. 23 Feb. 2015. Web. 5 Mar. 2015.

Teen Stress Essay Example | Topics and Well Written Essays - 1000 words

Teen Stress - Essay Example Learning the stress management techniques helps teenagers to handle stress and minimize the negative effect of the difficult or painful experiences. Teenage stress must not be ignored by adults, especially parents, because if left untreated, it can result in the serious problems such as mental disorder and de-socialization. The events that cause stress are called stressors and the stressful event can be anything starting with the fear, peer pressure, passing the exam, divorce of the parents and death of the relative or the friend. Teens have the psychological predisposition to perceive the situations more dangerous than they are in reality (Sluke 11). Most of the situations causing teen stress are not problems in the eyes of the adults. For example, the failure to become the cheer leader in the school team can be a huge stress for the teenager, while the adults would not consider it to be the failure at all. This is one of the causes why teen stress is often not treated seriously by the adults and teens have to cope with their inner pain on their own even if they have no resources to cope with it. Some sources of the teen stress include but not limited to the school frustration, negative self-perception, body changes, misunderstandings with friends, separation of the parents, changing schools, setting too high expectations, and financial problems in the family If teenagers become overloaded with stress and do not receive the outside help or support, they are at risk of developing anxiety, social withdrawal and even physical illness. Stress impacts the teen’s health – faster heart rate, increased muscle pressure and upset stomach (Sluke 39). The similar changes occur when the teen feels relieved from stress. Teen who learn to relax emotionally using stress coping techniques are less helpful and are able to respond to stressful situations. When the teen

The Theory of the Invisible Hand Essay Example | Topics and Well Written Essays - 4500 words

The Theory of the Invisible Hand - Essay Example The above theory is further explained as a condition by which an individual in a society will toil enough to put his capital in the domestic industry so as to encourage its produce for getting a better value, and by doing this, the individual is trying to put in his labor, unknowingly or indirectly, towards bringing in a larger revenue to the society as a whole. In this sort of constructive endeavors the individual actually does not intend to promote the public interest at all, and also does not know to what extent he is promoting it. This unintended promotion bestowed on the society will naturally be more than the actual worth if the individual has really intended it. The theory of the Invisible Hand affirms that if a consumer is given the chance to select freely, that is, at his own will without any external coercion or persuasion, from the several options or products before him, then each producer responsible for the options or products will get the total freedom to choose what to sell or what to produce and how to produce it. This will allow the intended market to settle upon a very convenient product distribution and pricing system so that it will benefit all the members of the society. The reason for deriving such an outcome is vested in the truth that the greed and self interest of an individual will force the attributes to transform into a state of collective and gainful qualities benefiting the society. In economics related to industrial organizations, this theory is applied in the viable and effective production methods in order to maximize the profits. Pricing of products will be fixed to the minimum to compete with the rivals. For getting the required profits the investors will put more money in industries which are considered to be the neediest to people or the target group instead of investing in less profitable industries. According to Adam Smith, "It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages." (Smith, Adam. Wealth of Nations, http://www.econlib.org/LIBRARY/ Smith/smWN1.html#B.I%2C%20Ch. 2%2C%20Of%20the%20Principle%20which%20gives%20Occasion%20to%20the%20Division%20of%20Labour%2C%20benevolence. Retrieved on 25th April, 2009) Thus, the Invisible Hand theory acts as a balancing mechanism in its entirety in the field of customer oriented production and its strategic marketing and in the matter of building customer relationships so as to increase the gains of the entrepreneurs. In this respect it cannot be construed that these entrepreneur's actions are fully motivated to benefit the interests of the society, but it is focused on himself and his kith and kin, and in reality, the net result of its application is nothing but the exploitation of the common people who are in dire wants of necessities and amenities in their struggle to survive in this world. Explanations of "Invisible Hand" in Society by different authors: Every individual...generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only h

Human Resource Management 1 Research Paper Example | Topics and Well Written Essays - 1500 words

Human Resource Management 1 - Research Paper Example In the following paragraph we are going to discuss about all the six features of a multicultural organization – Pluralism  refers to the mixed group of members in an organization and it also means taking proper measures to involve all the employees entirely that are different in terms of the central group dominating the organization. The concept of pluralism should take into account all the factors relating to race, religion, language, ethnicity, gender and culture which proves to be the basic component of a person’s identity and hence are sensitive facets of a person’s life. Pluralism is a part of the acculturation process. Acculturation helps to a great extent to introduce the concept of pluralism among the employees. Acculturation is the means by which the cultural disparity between the host/dominant cultural group and a minority cultural group are treated or resolved. There are a number of options for practicing acculturation within the organization, among which the most well-known being: 1. An unilateral procedure by which members of the minority culture take on the values and norms of the principal group within the workplace (this is called assimilation); 2. A course of action by which both majority and minority members of different cultural backgrounds accept some customs and rules of the other group (this is known as pluralism); 3. A state of affairs where there is modest scope of variation from each of the culturally different groups (this situation is referred to as cultural separatism). Pluralism further refers to the means of encouraging the minority culture groups are to enact the practices from the other cultural groups as well as from the dominant cultural group. They are as a result capable of retaining a sense of individuality within their minority cultural group. The concept of acculturation on the other hand is related to the cultural (customs and attitudes) characteristic of amalgamation of the diverse teams, as contra sting to simply make themselves physically available in the same setting (Buenker & Ratner, 2005, pp.18-20). Full structural integration:  An organization generally comprises of people from various backgrounds and different locations. When the firm has minority team members offering their service at every organizational level like responsibly handling all functions and enthusiastically taking part in all work teams, then it is said that the firm has attained full structural integration. Though, in order to obtain an appropriate knowledge of the structural integration framework it is significant to look further than the organization oriented summary data, and study the cultural blend in terms of function, individual work team and the level of work done. This involves dealing out with educational specializations and the variations in expertise and treating those evenly all through the organization. Full integration of informal networks:  integration in informal networks in a multi cultural organization is fostered through supervising and mentoring programs, particular social occasions and sustaining the cultural groups for the minorities. Such firm

UK supermarket sector is an oligopoly Essay Example | Topics and Well Written Essays - 2750 words

UK supermarket sector is an oligopoly - Essay Example The entire functioning in the supermarket is looked after by the Commission. Although the commission tries to disrupt the impacts of oligopoly, there is evidence that there is prevalence of oligopoly in the UK supermarket sector. This is because the supermarket sector in the UK is predominantly operated by a few firms, i.e. Tesco, Sainsbury’s and ASDA. The rapidity of the deliberation with regards to oligopolies concern has gained acceleration during the past five years. The supermarket sector in the UK falls under the category of grocery market that had accounted for a total market share worth  £146.3 billion in the year 2008. Supermarket sector is the largest sector among all other sectors under the grocery market in the UK and it accounted for a total of 73 percent of the sales in grocery market. In the UK grocery market, the three biggest chains are Tesco, ASDA and Sainsbury’s that accounted for a share of 67.9 percent (Li, 2008). In this research paper, the UK supermarket sector will be analysed with reference to the performance of the three giants in the market. The belief that the supermarket in the UK is dominated by oligopoly will be critically evaluated in this research paper. ... The most important characteristics of an oligopoly market are existence of a few firms, high barriers to entry or stiff competition and earning of high or above-normal profit. 2.1 Firms in the UK Supermarket It has already been mentioned earlier that the UK supermarket’s four biggest chains are the Tesco, ASDA, Sainsbury’s and Morrisons. The share of these chains in total accounts to 67.9% of the grocery market. This data explains that more than half of the market share belongs to these chains and thus resembles the scenario of an oligopoly market. The data about the operational efficiencies of the three topmost chains will support the fact that the UK supermarket sector is an oligopoly. 2.1.1 Market Share and Performance of Tesco in the UK Market Tesco is the third largest retailer in the world and is the topmost in the UK; and at present it is observing a steady recovery in the consumer market segment in the UK. The expectation is supported by the sales figure during the period September-November, 2010. The market share of Tesco had grown up to 30.7 percent during the year 2010. According to the article published in Bloomberg Business week, the sales that boosted up during the period of Christmas last year had been initiated by the shift in the preference of consumers to products with better quality. The performance of Tesco in the UK market provides evidences of dominance in the supermarket sector (Shannon, 2010). 2.1.2 Market Share and Performance of ASDA in the UK Market ASDA, with a market share of 16.8 percent is the second largest operator in the UK supermarket sector. Although its performance level declined as it faced competition from its rival

Existentialism in Literature Essay Example for Free

Existentialism in Literature Essay Existentialism in literature is a movement or tendency that emphasizes individual existence, freedom, and choice. While Existentialism was never an organized literary movement, the tenets of this philosophy have influenced many diverse writers around the world and readers can detect existential elements in their fiction. Americans writers like William Faulkner, Ernest Hemingway and John Steinbeck reveal existential elements in their writing. Perhaps the most prominent theme in existentialist writing is that of choice. Humanitys primary distinction, in the view of most existentialists, is the freedom to choose. Because we are free to choose our own paths, existentialists have argued, we must accept the risk and responsibility of following our commitments wherever they lead. American writers Henry David Thoreau and Ralph Waldo Emerson often wrote about these concepts. Existentialism is not dark. It is not depressing. Existentialism is about life. Existentialists believe in living—and in fighting for life. The politics of existentialist writers around the world varies widely, but each seeks the most individual freedom for people within a society. Despite encompassing this wide range of philosophical, religious, and political ideologies, the underlying concepts of existentialism are constant: ? Mankind has free will ? Life is a series of choices ? Few decisions are without any negative consequences ? Some events and occurrences are irrational or absurd, without explanation. ? If one makes a decision, he or she must follow through. So existentialism, broadly defined, is a set of philosophical systems concerned with free will, choice, and personal responsibility. Because we make choices based on our experiences, beliefs, and biases, those choices are unique to us—and made without an objective form of truth. There are no â€Å"universal† guidelines for most decisions, existentialists believe. Even trusting science is often a â€Å"leap of faith. † The existentialists conclude that human choice is subjective, because individuals finally must make their own choices without help from such external standards as laws, ethical rules, or traditions. Because individuals make their own choices, they are free; but because they freely choose, they are completely responsible for their choices. The existentialists emphasize that freedom is necessarily accompanied by responsibility. Furthermore, since individuals are forced to choose for themselves, they have their freedom—and therefore their responsibility—thrust upon them. They are â€Å"condemned to be free. † Many existentialist writers stress the importance of passionate individual action in deciding questions of both personal morality and truth. Personal experience and acting on ones own convictions are essential in arriving at the truth. 17th-century French philosopher and existentialist Blaise Pascal saw human existence in terms of paradoxes. He believed that â€Å"We know truth, not only by reason, but also by the heart. † And as many existentialists, he acknowledges that â€Å"It is the fight alone that pleases us, not the victory. † The modern adage that the journey is more important than the final destination applies to this idea. Danish philosopher Soren Kierkegaard, who was the first writer to call himself existential, reacted against traditional thoughts by insisting that the highest good for the individual is to find his or her own unique vocation. As he wrote in his journal, â€Å"I must find a truth that is true for me . . . the idea for which I can live or die. † Existentialists have argued that no objective, rational basis can be found for moral decisions. The 19th-century German philosopher, Friedrich Nietzsche contended that the individual using free will must decide which situations are to count as moral situations. He believed that â€Å"There are no facts, only interpretations. † . . . and he is famous for this well known adage:â€Å"That which does not kill me, makes me stronger. † The 19th-century Russian novelist Fyodor Dostoyevsky is probably the most well-known existentialist literary figure. In his book Notes from the Underground the alienated anti-hero questions experiences in life that are unpredictable and sometimes self-destructive. French writer, Jean Paul Sartre wrote that man can will nothing unless he has first understood that he must count on no one but himself; that he is alone, abandoned on earth in the midst of his infinite responsibilities, without help, with no other aim than the one he sets himself, with no other destiny than the one he forges for himself on this earth. There is no ultimate meaning or purpose inherent in human life; in this sense life is absurd. We are forlorn, abandoned in the world to look after ourselves completely. The only foundation for values is human freedom, and that there can be no external or objective justification for the values anyone chooses to adopt. † When the Swedish Academy granted the Nobel Prize in Literature to Sartre for his work which, they recognized as â€Å"rich in ideas and filled with the spirit of freedom and the quest for truth, [that] has exerted a far-reaching influence on our age,† Sartre made it known that he did not wish to accept the prize. In a public announcement, in1964, Sartre expressed his regret that his refusal of the prize had given rise to a scandal, and he wished it to be known that his refusal was not meant to slight the Swedish Academy but was rather based on personal and objective reasons. Sartre pointed out that due to his conception of the writers task he had always declined official honors so this act was not unprecedented. He had similarly refused other awards offered to him. He stated that a writers acceptance of such an honor would be to associate his personal commitments with the awarding institution, and that, above all, a writer should not allow himself to be turned into an institution.