Council of Trent Essay Example | Topics and Well Written Essays - 750 words

Council of Trent - Essay Example This paper looks at four themes of the Council of Trent. The themes are, Reformation, Interpretation of Scripture, Condemnation of Corruption in the Church, and Faith and Works. Reformation The reformations that were executed by the Council of Trent were meant to ensure order and efficiency in the Catholic Church and also to curb rampant corruption in the church. The following are the reforms that were made by the Council of Trent. First, the council decreed that bishops must live within their diocese. The bishops also were prohibited from buying or selling religious offices. This measure was meant to curb the common practice of appropriating church properties by the rogue bishops. It was also decreed that each bishop had to establish a seminary within his diocese. This was meant to ensure that there were training facilities, within each diocese, for the candidates for priesthood. The council also decreed that candidate for priesthood had to be firmly grounded in Theology, the candid ates also were required to lead a virtuous life (The Council of Trent (1545-1563): Roman Catholic Church, Web.). ... By this decree the council fathers in the Council of Trent meant that it is the Magisterium only, the official teaching office of the church, has the authority to interpret the Holy Scriptures. The members of the Catholic Church are supposed to abide by the church interpretations of the Scriptures, and not any other interpretation. This directive was meant to cushion the catholic believers from the erroneous and heretical interpretations of the Holy Scriptures. This decree on the interpretation of the scripture reinforced the position of the Magisterium as the official teaching office of the church. Condemnation of Corruption The fathers in the Council of Trent condemned the selling and buying of religious offices. This corrupt practice was known as Simony. And to curb this crime, the fathers put in place a clear declaration against buying and selling of religious offices (The Council of Trent: Bull of Indiction, Web). The council fathers also condemned the abuse of indulgences by th e clergy, and to curb this vice, the fathers reaffirmed the efficacy of the indulgences and put in place cautionary measures to ensure that indulgences are not misused for selfish gains by the clergy. Faith and Works The fathers of the Council of Trent taught that both faith and works/action were instrumental for justification. The fathers decreed that justification depended on the sacrament of baptism, co-operation with infused grace, and good works. The fathers of the council supported their view with St. James teaching that faith without good works is dead, Jms. 1: 26.This position of the fathers of the Council of Trent was diametrically opposed to

Business Decision Making Coursework Example | Topics and Well Written Essays - 1500 words

Business Decision Making - Coursework Example Decisions range from smaller and simple ones to complex ones which require great effort to facilitate the arrival to a reliable conclusion. The overall process of decision making needs to be executed in a logical and systematic manner that will allow the evaluation of all relevant elements before adopting one of the available alternative courses of actions. Therefore, decision making has to be carried out with an organized approach that will facilitate the consideration of all factors. This is according to Baker (2010). Williams (2007) agrees that academic experts in the business sector have devised models that can be employed when developing a decision. These models advocates for the adoption of various requisite steps in building the decision. The essential steps applied in making decisions at all contexts starts from then definition of a problem, identification of the alternative, evaluation of the available options, selecting the best alternative, appraising the feasibility of th e decision and presenting the proposed decision for approval by the relevant authorities. All major decisions are carried out systematically using these steps without omitting even one. In the business context, once the underlying problem has been defined rationally, the next step will entail the identification of the available solutions. The first two steps of decision making require the application of information concerning the problem situation. The third step on evaluation of the options also needs the appraisal of the situation’s information. At this juncture, one should be in a position to interpret the collected information appropriately using a suitable interpretation technique. Upon interpreting, the decision maker will pick the best alternative course of action, based on the validity of the findings depicted by the interpretation. This is according to Williams (2007). Baker (2010) asserts that information on a situation needs to be acquired before initiating a decis ion making process. The data collected from the sources will supplement the values needed to develop a body of information concerning a situation. At this juncture, it is logical to state that the practical part of a decision making process begins from the collection data on the concept under consideration. Data collection can be carried out using the suitable methods. The data can be obtained from either the primary or the secondary sources. Primary sources data collection entails the process of obtaining information from first hand respondents especially in the field by exercises like surveys and administration of questioners. In our discussion, the decision making process concerning Exchange Partnership Team (EPT) will start from the development of an outline illustrating the data collection exercise. Question 1 In the context of the West London Exchange company, the Exchange Partnership Team (EPT), data can be obtained with respect to the outline below; 1) Primary Data sources a ) Administering Questionnaires b) Observations c) Case studies d) Portfolios e) Interviews f) Evaluation of critical incidences 2) Secondary Sources a) Internet Databases b) Internal business records c) Government agencies records d) Business directories Question 2 Questionnaire According to Baker (2010), the most appropriate research methodology

Meaning of Jane Eyre as a Whole

Meaning of Jane Eyre as a Whole The whole of the work is a critique of Victorian Englands social hierarchy and inequality for women. Jane struggles against social class and gender inequality, both of which she considers great injustices. Free Response Question (Year and Paraphrase of Question) 1997. Novels and plays often include scenes of weddings, funerals, parties, and other social occasions. Such scenes may reveal the values of the characters and the society in which they live. Select a novel or play that includes such a scene and, in a focused essay, discuss the contribution the scene makes to the meaning of the work as a whole. You may choose a work from the list below or another novel or play of literary merit. Opening Sentence for (your) Essay (Be prepared to write an essay on this novel at any given time during the quarter!) In the novel, Jane Eyre, a certain scene depicts Victorian Englands social class hierarchy. This scene is of when Mr. Rochester brings a party of distinguished gentry and ladies to his home and they all converse and relax in his parlor. In the scene, they indulge in their own splendor and think nothing of those who are considered to be in a lower social class than they. Their treatment of Jane, whom they consider beneath them, reveals just how little the higher classes of the time regarded those of lower classes. This value of social class in the society where they life greatly adds to the meaning of the work as a whole. Key Plot Incidents Jane Eyre is an orphan living with her terrible aunt, Mrs. Reed. In that home she is treated cruelly and disliked by all but Bessie, a servant in the home. One day, Jane is hit by John Reed, and she loses it and attacks him. As punishment for starting the fight she is sent to the red room where she has a vision of her dead uncles ghost she screams and faints. She wakes up in the care of Bessie and Mr. Lloyd, who makes the suggestion of Jane attending school. Mrs. Reed does so after Jane goes on a spiteful tirade against her. At Lowood School, Jane finds a miserable situation. The school is in horrible condition with inadequate means for survival and stern rules installed by the hypocritical headmaster, Mr. Brocklehurst. Jane has a dear friend there, Helen Burns. This angelic friend dies of consumption when an epidemic of typhus sweeps Lowood. So many girls die, it attracts the attention of the public who discover the horrible living conditions. Brocklehurst is replaced by better men. Jane stays for six more years as a student and then two as a teacher. She soon desires new experience after her time there and after her idol, Miss Temple, marries and leaves. Jane puts out an advertisement and is soon employed as a governess at Thornfield Hall. She teaches an illegitimate little French girl named Adele and meets the housekeeper, Mrs. Fairfax, both of who she befriends. The gentleman at Thornfield is Mr. Rochester, a dark and moody man. He and Jane have deep conversations often and confine in each other. Jane sees his flaws but falls in love with Mr. Rochester. One night she saves his life from a fire which creates a mystery for Jane concerning Grace Poole, a servant. Jane concludes that she is unaware of all the facts. One day, Mr. Rochester brings home a party of gentry and fine ladies. They stay for a couple of weeks. Jane is in silent despair as she sees Mr. Rochester fancy a beautiful but vicious woman, Blanche Ingram, and expects them to me married soon. Jane begins to make arrangements to leave Thornfield but then Rochester confesses love for Jane and proposes to her. She joyfully accepts. Their wedding day is ruined by the announcement that Rochester is already married. Mr. Mason, when attaining knowledge of Mr. Rochesters intentions concerning Jane, made it known that Mr. Rochester is married to Bertha, Mr. Masons sister, who is insane and who Mr. Rochester has kept hidden in the third story of his house. Jane, a strong defender of morality, cannot stay with Mr. Rochester, who is a great temptation. In the night she flees from Thornfield. She has nothing and is reduced to begging and is received by no one. Finally, when she is on the verge of death, she is taken in by three siblings, Mary, Diana, and St. John Rivers, at their manner, Marsh End. She becomes very close to them, especially the sisters. St. John finds employment for Jane as the teacher in a school for poor girls. One night, St. John comes and tells Jane, after discovering her identity, that she has inherited a large fortune of 20,000 pounds from her uncle, John Eyre. She also learns that she and the Rivers are cousins and is thrilled. She splits her fortune with her beloved relatives. As she lives with the Rivers she studies with Mary and Diana until St. John entices her to do so with him. She does and he soon asks her to accompany him to India as a missionary and his wife. She will not go as his wife because she does not love him. One night when he as almost convinced her to marry him, she hears Mr. Rochester cry out her name and she returns the call. The next morning, she sets out for Thornfield and her love. Upon arrival she discovers that Thornfield has been burned to the ground by Bertha, who jumped off the roof, killing herself. Mr. Rochester was stricken blind and crippled (he lost his hand) in the fire will trying to save all the servants and Bertha. He now lived with only two of his trusted servants in a dark place, Ferndean. Jane goes to him and they love as they did before. They are soon married and the story end with Janes short recount of the next ten happy years. Key Characters (Who and Why) Jane Eyre- Intelligent, moral, and opposes the injustice of oppression and inequality. She is plain but engaging and seeks fulfillment. She maintains high values throughout the whole book. She is a metaphorical challenge against Victorian treatment of women and those who are poverty stricken Edward Rochester- Master of Thornfield and wealthy employer of Jane Eyre. He is passionate, dark, and secretive. Jane falls in love with him and he loves Jane. Despite societal norms, he marries her. Before Jane, his life was reckless and lost. He was moody and miserable. St. John Rivers- Janes benefactor when she had nothing. Also her cousin and deliverer of good news. He is devoted to God. He wishes to be a missionary in India and asks Jane to accompany him as his wife. He is cold and ambitious. He is handsome. There are many other characters, with smaller roles, who come in and out of Janes life. Setting(s) Gateshead- Mrs. Reeds home. Jane grew up there for ten years. Lowood-the miserable school Jane attended and taught at. She gained her education and values there. Thornfield- The home where Jane was a governess. She finds a place there and falls in love. Mr. Rochesters home. Marsh End- the home of Mary, Dianna, and St. John Rivers. Becomes Janes home after she inherits her fortune. Significance of Opening Scene The significance of the opening scene is to establish Janes first thoughts of injustice and the beginning of the development of her high morals and her sense of right and wrong. Significance of Closing Scene Jane is rewarded for her living of high values and morality with the love of her life. Her reward is just. Style of Narration/Point of View The point of view is first person. It is from Jane herself. She narrates as though she is telling her life story from far in her future. Theme(s) Love vs. Autonomy- Jane longs to be loved, not only romantically, but by family. She wants to belong but not enough that she will lose her autonomy. Her fear of losing her connection to God motivates her to flee from temptation (Rochester). Religion- Jane is very religious. She struggles, throughout her story, to balance her desire to serve her God and with her desire to serve herself. Jane is very strong in her faith and has high principles as a result. She meets three religious figures. Mr. Brocklehurst represents hypocrisy and the danger of the Evangelical religious movement. Helen Burns represents passive hope and trust in God. St. John Rivers represents finding glory in God and self-importance. Jane does not accept any of these. Symbols(s) Bertha- Serves as a symbol of Rochesters unhappiness, and tribulation for Jane. Bertha is Janes trial. Bertha is also a symbolic critique of Englands locking away of other inferior cultures. Bertha represents Victorian wives who are kept under tight leash. The Red Room- symbolic of struggles Jane must overcome. Jane recalls the Red Room every time she is struggling. Janes desire to find more fulfillment in her life is symbolic of all feminine unrest. Tone A slap in the face of injustices. Deep-rooted misery and search for fulfillment.

Essays on Death and Suicide - Witnessing Death :: Personal Narrative Writing

Personal Narrative- Witnessing Death I witnessed the death of a man, today. His name was Daniel. He was painting the house next to us. He was on the top couple rungs of the ladder when it folded under him. It was a cheap ladder. Corroded aluminum. I am right in the line of sight on the back porch of our house; I hear the ladder starting to collapse, and see him hit the ground. At first I call out to him. He doesn't respond. I guess I should have called 911 then. I don't. I run over to him. He's barely conscious. I ask him if he is ok, and he can't form any words. He's moving around his left arm, as if searching for something on the ground. I remember that he has glasses, and then see them laying 5 feet away on the grass. I put them on him. One of the legs of the glasses had snapped off, so they don't go on straight. I get my mom. When she gets there, she asks him what is his name. "Daniel," he wheezes out. She asks him what day it is, but his eyes glaze over, and he loses consciousness. She goes in and calls 911. When she comes back out, she tells us that they're on their way. Then she just stands there waiting next to him, and I sit next to him with my hand on his shoulder. He's convulsing, and he gasps. I can feel his body tensing up under my fingers. I let go. He is foaming at the mouth. We talk to him, saying stuff like, "It'll be ok, the ambulance is on its way." and, "Just hold on, Mr. Daniel, hold on, till the ambulance gets here." He's still for 20 or 30 seconds at a time, not even breathing, it seems like. Then he convulses gently. Each time he convulses, I feel myself sighing in relief, that he hasn't gone yet. It is more serious than I had thought at first. He was still alive when the paramedics finally got there. But (the fireman said later) he stopped breathing and his heart stopped beating as they stood over him, checking his pulse. They did CPR on him, right there on Ms. Lucy's lawn, and a few minutes later, they loaded him onto the ambulance. I say to the fireman, "How is he? Is he alive?

Bechtel and GE

DPC was a Joint venture with General Electric and Enron in India. 2nd slide Bechtel has strong corporate culture, values and ethics and it shows a great discipline in project management. It has a performance-based leadership and its latest performance-based leadership program is called ‘Employee Engagement,' which says that if you engage employees effectively in a good relationship with a supervisor, you will create a highly satisfying environment. Employees who are happy and believe they are treated well by the leaders, they perform well too.One of the ain organizational goals is the motivation and satisfaction of the employees and as Riley Bechtel has claimed â€Å"Give Bechtel's people a challenge and they'll make history'. Finally, Bechtel provides equal opportunities for everyone. However, employees usually complain about the fact that the majority of Jobs are in Asia and Middle East, which makes them relocate every so often. 3rd slide Bechtel's Corporation core goal is t o strengthen local economies, helping its customers, wherever their facilities are found, to achieve their objectives.It creates usiness-building opportunities for local firms, employing area workers and professionals, and advancing its customer's vision. Also, the company supports local growth, skills training, and supply chain development; The Company supports the protection of the environment and that's why it minimizes its construction footprint; lastly, it operates to maximize resource efficiency. 4th slide Let's talk about the Similarities and differences between Bechtel and GE. First, we will discuss the similarities.Both Bechtel and GE are decentralized companies, which ean that the power and the authority to make decisons delegate from head office to lower and local levels [Less uniformity, Decisions made in relation to local circumstances]. [Centralised: 1) Keep decision making power at the top of the hierarchy, 2) Don't delegate to local or lower levels]. Also, Bechtel ad opts the Six Sigma approach; indeed, it was the first EPC (engineering, procurement and construction) company to launch Six Sigma in 2000.Moreover, both companies want to foster and reinforce the performance of its employees as well as the working nvironment and so, they create projects teams. Another similarity is that the give emphasis on the cultural exchange, thus they work with local firms trying to provide them with the required knowledge on construction and engineering. Finally, both companies promote diversity. the employment of more than 350,000 people in both companies prove that they try to help and occupy local people, giving them the opportunity to produce, create and innovate; all these factors contribute to one of the Let's see the differences.Bechtel unlike GE alters its policies for local requirements, or example, through performance reviews as well as the employees have significantly influenced the cultural change. Another difference is the size of the company, sin ce GE is much bigger employing more than 305,000 people, while Bechtel has 53,000 employees. Finally, the last difference concerns the type of projects, since Bechtel adopts projects mainly to reinforce its employees, such as â€Å"Toward 2001†, while GE adopts different approaches to foster its working and corporate environment, such as Work-out and Six Sigma.

Popular Culture Essay Essay

Although there are some parts of popular culture that make it into high culture, popular culture is transient; it describes the way of life, attitudes, and passions of mostly younger people. These views usually change as they age and gain real life experience. This essay will cover culture, popular culture, three major trends in popular American culture and how popular American culture affects personal decision making. Culture is the united design of social understanding, faith, and conduct that hinges on the ability to search for knowledge and spread it to future generations. It is also the ordinary principles, collective customs, and measurable qualities of ethnic, religious, or a community. (Oxford English Dictionary, 2012) â€Å"The soul takes nothing with her to the next world but her education and her culture.† (Plato, 2012) Popular cultural is the understanding and actions of a particular set of people in a particular era. It is also television shows (like Reality TV) or marketable goods (like sagging pants, oversized shirts, hats designed to be worn backward, etc.) made for, or targeted at particular set of people. (Oxford English Dictionary, 2012) In this student’s opinion popular culture comes and goes and only defines an era not its people. Three major trends in today’s society are a digital society, sexual explicitness, and a general lack of personal responsibility. Americans live in a digital society that relies on technology more than personal relationships. We do a great deal of shopping and purchasing online and have become a society where the sexier it is the better. Almost everything on television, in magazines, and even our music have become permeated with sexual overtones and innuendos. Finally, we have a dilemma with the lack of personal responsibility in our country; recently there have been several lawsuits against fast food restaurants for making people fat. Americans need to accept responsibility for our own actions; it was not the fast food restaurants that made us fat, rather it was our decision to eat there that did. Popular American culture affects personal decision making various ways, whether it is the type of food we buy, the music we listen to, electronics we purchase, and even the people we date. In this student’s opinion the Internet is the single most influential popular culture influencer of our time. We use it for everything from dating, shopping, exploring, studying, traveling, relaxing, and so much more. Popular culture  affects us in almost every decision we make. Although there are some parts of popular culture that makes it into high culture, popular culture is transient. This essay covered culture, popular culture, three major trends in popular American culture and how popular American culture affects personal decision making. â€Å"Culture is made of everything that enables man to maintain, enhance or transform without weakening it, the ideal image of himself that it has inherited.† (Malraux, 2001) References Malraux, A. (2001, May 2). UCL – Discours recteur Marcel Crochet. Retrieved from http://sites.uclouvain.be/actualites/dhc2001/drecteur.html Oxford English Dictionary. (2012, June). Retrieved from http://www.oed.com.ezproxy.apollolibrary.com/view/Entry/45746?rskey=BftxmA&result=1&isAdvanced=false#eid Plato. (2012, June 4). Here, There, and Everywhere. Retrieved from http://www.psychologytoday.com/blog/here-there-and-everywhere/201206/whats-after-30-quotes-the-afterlife

Negotiating for Writers

Negotiating for Writers Spelling and proper grammar are essential skills for a writer. Negotiating and business sense are too, but those are the ones many people overlook. Here’s how to get higher rates, better jobs and walk out on top when it’s time to negotiate a deal. Spotting Room for Negotiation Some jobs offer terrible pay – and no amount of negotiating will get you more than $10 for 1,000 words. Other times a client states a set budget for the job and that’s it. But sometimes a client asks to discuss your rates for one or several articles. Right there’s your negotiation room. Diff’rent Strokes Your negotiation technique with a corporate blogger is going to differ from that with a self-published fiction author.   Each have different needs, and when negotiating, you’re speaking to those needs directly. There are five main negotiation styles – see Negotiations.com. Ask your client about their proposed budget and see how close it falls to what you would have normally quoted them. Don’t Agree Too Soon When you spot negotiation room, don’t agree to the first deal. Propose a counter-offer – one which offers a better deal for both of you. This can be quicker delivery at a higher rate for rush jobs, an extra blog post, a higher per-word rate when you have other projects in-between.   You have experience, and people will pay more for it. Higher Rates You can tell a new client, â€Å"I’m not okay with this rate. How about this?† You will lose some jobs, and that’s okay – you gain more in the long run. Higher rates can also be negotiated when jobs have a tight deadline or need very specialized research done. Work out the charge hourly and per word too: Which is better? (AllFreelanceWriting.com). Fatal Negotiating Mistakes Going in too high can scare potential clients off to a â€Å"no,† and so can going in too low – industry standard rates exist to minimize this (See: SAFREA, the EFA and the WGGB). Seeming desperate in negotiation will either scare clients off or teach them that you are to be taken advantage of: Never show outright desperation Swinging the Deal When several hopeful writers are negotiating, offer something others don’t in order to swing it your way. Often, this comes down to sending strong, relevant writing clips that tells the client, â€Å"This is the writer I want.† You can also swing the deal with the right counter-offer that says, â€Å"If you agree to my terms, here’s what I can do for you in return.† For one regular ghostwriting job, I offered the client two posts per week instead of one, and my rate was accepted. Compromising The whole point of negotiating is reaching the point where both parties walk away satisfied. This can also mean meeting in the middle – compromising. Always be willing to consider compromising. It can be summed up with a short, imaginary dialogue: â€Å"$500?† â€Å"$350?† â€Å"$480.† â€Å"Deal.†

Communication Effectiveness in the Management of Virtual Teams

Communication Effectiveness in the Management of Virtual Teams Introduction Various organisations currently operate at the global business interface that is characterised by intense competition, dynamic changes in consumer needs, emerging trends of new products, changing technology, and different cultures.Advertising We will write a custom proposal sample on Communication Effectiveness in the Management of Virtual Teams specifically for you for only $16.05 $11/page Learn More Such businesses strive to maintain operations that are geared towards striking a balance between the influences of the above factors. Most multinational businesses usually establish subsidiary branches in numerous countries across transnational borders with a view of expanding their market bases by attracting international consumers. For this reason, implementation of virtual teams of different employees from culturally diverse origins becomes a crucial interplay in the involved businesses since they facilitate communication amongst diverse consume rs, employees, and subsidiary firms. Currently, many businesses are adopting virtual management whereby managers do not necessarily need to maintain physical contact with their employees. The research proposal aims at investigating effective communication and motivation techniques in the management of in virtual teams across transnational borders. Background According to Huang, Kahai, and Jestice (2010), virtual team management is a phenomenon that surpasses the limitations of time and space boundaries that are experienced in visual interactions. Misunderstanding of cultural differences, marginalisation, language barrier, team disunity, and mistrust are some of the issues that are associated with virtual team management. For instance, the GE Energy, an electricity management company in Atlanta recently faced an increasing number of diverse cultural workforces in its areas of operations. This situation led to the development of programs such as the GE Connect and WebEx to provide an insight into ‘Working in Virtual Teams’.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The GE Connect and WebEx software adds a phone tab to the GE WebEx connects. The system can command the computer to manage call dials, history, waiting indicators, media, and instant messaging among others. Employees who do not understand common communication languages such as English among other dialects can successfully interact with their colleagues using the system to improve their communication. This situation is an implication of a need to conduct more research on the techniques and solutions to the challenges that arise from the management of virtual transactional teams due then unavailability of a common language. Literature Review A virtual team refers to a group of individuals who interact using internet platforms and profiles rather than maintaining face-to-face comm unication (Chen, Chen, Chu 2008). On the other hand, a transactional virtual team is an organised group of persons who carry out various activities that are related to trade despite time, boundaries, and space limitations (Chen, Chen, Chu 2008). Virtual teams have become increasingly important for transnational companies. They provide a framework for addressing challenges that result from modern rationalised organisations owing to the distribution of workforce. Capece and Costa (2009) posit that the advancement of technology and globalisation has led to an increased flexibility in organisations as they seek to gain competitive advantages over the rival companies. The premise of virtual teams is to address the location and accessibility of employees due to the unrelenting workforce demographics in the modern world. As a result, the embracement of such teams helps organisations to gain access to diverse expertise and quality-improvement systems whilst promoting workplace interaction s.Advertising We will write a custom proposal sample on Communication Effectiveness in the Management of Virtual Teams specifically for you for only $16.05 $11/page Learn More In this proposal, qualitative methods such as interviews, focus groups, and participant observations were deemed suitable for the research in question. The interviews will be used to gather demographic information that will be used to design parameters such as the average age, level of the awareness of cultural diversity, and comparison statistics among others (Creswell 2013). The methods will be guided by respondent characteristics such as feelings, beliefs, perceptions, and ideas among others. Such aspects will guide the researcher to design appropriate interview schedules. Information concerning the communication techniques and patterns of the organisation will be gathered through textual analysis and archival research (Rawbone 2015). Both purposive and snowball sampling techniques have been deemed appropriate for the selection of the participants. Purposive sampling will ensure the maximisation of rich information while the snowballing technique will help the researcher reach the respondents by asking them to recommend their colleagues (Punch 2013). Regardless of the perceived effectiveness of virtual teams in the management of contemporary organisations, various problems have been identified. At the outset, the physical dispersion of persons around the world leads to the development of diversity issues that hinder smooth communication. Diversity management has been deemed one of the most significant challenges in running of organisations. Leaders who have been habituated to the outmoded organisational frameworks encounter a number of management difficulties. The organisation of the new teamwork also requires the leaders to assess the ability of the traditional management approaches to meet the necessities of the virtual programmes. This tendency to shift fr om the traditional to new forms of leadership poses an enormous risk to the organisation.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Overton, Hills, and Dixon (2007) also affirm that language barrier is a crucial problem that leads to communication shortcomings in the event of adopting virtual teamwork management. There is a tendency to interpret context differently as individuals perceive ideas, values, and beliefs uniquely. For instance, Overton, Hills, and Dixon (2007) reveal that the difference between high and low context cultures has been evidenced to interpret information differently. Embracing Effective Communication and Motivation in the Management of Virtual Teams A research conducted by Overton, Hills, and Dixon (2007) in the UK on the integration of effective communication techniques into organisational activities revealed that it significantly improved the delivery of a range of skills such as leadership, management, and understanding of foreign languages among others. It was affirmed that the techniques were applicable to the management of virtual teams to foster the learning of different languages for effective communication. According to Nash and Kallenbach (2009), effective communication tools can be used efficiently to ensure proper management of the virtual teams. This technique can also be used to increase outreach programmes to rural communities or places that are hard to reach within a given time such as companies with international branches. The only issue of concern raised in the study was that most of the adults were unaware of such techniques being embraced in current systems of management (Aragon Johnson 2002). Companies that support effective communication significantly lead to the improvement of employee motivation. Employees who strive to understand other languages make the use of effective communication and other resources that are based online. Literacy is among the key strengths that are created through electronic communication. The web can provide an excellent means of developing skills in the wake of digital technology (Mishan 2005; Wagner and Konzma 2005 ). According to Scott and Wildman (2015), most businesses use virtual teams to grasp larger market shares besides overcoming geographical barriers (Scott Wildman 2015). Bachmann (2006) attested that communication enables people of different cultural backgrounds to develop shared models besides creation of group identities. It is highly believed that collective perceptions of other people, living environments, information, or the world create a mutual understanding among the members of particular groups. A survey that was completed by researchers such as Yip and Dempster (2005) identified that communication via the internet compelled many companies to run virtual teamwork. These studies failed to mention the aspect of embracing cultural diversity and understanding among employees since it was limited to electronic communication (Davis, Fletcher, Absalom 2010). Technology plays a critical role in conveying information between individuals through virtual organisations (Siebdrat, Hoeg l, Ernst 2009). Virtual teams with diverse cultural backgrounds can be managed efficiently using robust cybernetic information channels with a view of diminishing the ethnic, racial, and/or geographical gaps that exist between the members of the teams. Dekker, Rutte, and Van den Berg (2008) recommended that companies should implement up-to-date technology with a view of establishing and maintaining virtual teams. Language complexities, cultural misunderstanding, and marginalisation always affect communication. Lockwood (2015) recommended a need for training staff in communication, leadership skills, and different cultural issues that affect the management of teams across transnational borders. Embracing Clear Understanding of Different Cultures for Coexistence in Virtual Team Environments Culture is a combination of values, norms, beliefs, and orientations that exist in a given society. They are transmitted from one generation to the next (Leidner, Alavi, Kayworth 2010). On the ot her hand, cultural diversity is a mix of people having different national and linguistic characteristics. According to Erez (2010), culture is a conception that is passed from one generation to the next. It comprises aspects such as beliefs, art, knowledge, laws, customs, and habits that are exhibited by a person within a particular society. Most people use culture as the backbone for communication and develop knowledge about particular attitudes towards life. Earley and Mosakowski (2000) posit that respect for cultural diversity brings about the appreciation of heterogeneity in the values and norms of people from different backgrounds. This situation brings people together either face-to-face or virtually. Wildman and Griffith (2015) mention that businesses are currently faced with challenges of virtual team management that affect efficiency. They recommend that leaders should be knowledgeable on tools for exploring cultural diversity. The leaders must be well conversant with inter personal cues, cultural differences and diversity inclusion. Lastly, they attested that virtual communication and mutual leader-follower relationships are paramount to the active contribution towards improved business performance (Wildman Griffith 2015). Globalisation has resulted in increased virtual teams across transnational borders. Intercultural communication and interaction are essential due to the ever-increasing globalisation that has led to the movement of labour across national, regional, and continental boundaries. Embracing management with clear communication technology has led to the emergence of virtual communities who share information on different cultural values, beliefs, norms, and languages among other characteristics (Zakaria, Amelinckx, Wilemon 2004). A research that was conducted by Alpaslan et al. (2004) revealed that poor understanding of other people’s cultures and languages accounted for inadequate performance in cybernetic communication. This situ ation led to misunderstanding and distrust amongst individuals and groups in the organisations. However, the creation of forums to educate the employees on embracing different cultures proved to be efficient in appreciation of virtual teams (Whatley, Zaitseva, Zakrzewska 2009).The study does not clearly indicate how communication should be implemented in such situations. Motivation, Good Leadership, and Trust Motivation is also a crucial factor that has been proved efficient in addressing issues that arise from the management of virtual teams. Individual enthusiasm is an aspect that enhances morale and liveliness in communication. Virtual interactions are enhanced through motivation with a view of alleviating glitches that arise from monotonous environments (Holton 2001). A deeper comprehension of subjective motivational factors should be considered because each person gets motivated in different ways. Different cultures also have features that derive individual motivation. Such fa ctors are paramount to the formation of sound virtual teams that are prepared with a broad base of knowledge about their cultures and those of other individuals. Cifuentes and Murphy (2000), posit that other factors such as attention, confidentiality, satisfaction, and relevance among others are components of the sources of motivation. If they are embraced appropriately, they can improve a person’s engagement in virtual discussions that close the gap between varying cultural teams. An individual belief in the ability to achieve personal goals is significantly improved where organisations encourage motivation and autonomy. However, the researchers have not highlighted communication as a crucial element for the achievement of such objectives; hence, it ensures that the individuals are satisfied and open-minded. Maintenance of enthusiastic workforce ensures relevance and improved confidence (Cifuentes Murphy 2000). This situation can be achieved through active involvement in le arning or projects that encompass the performance of employees from different cultural backgrounds. Both employees and managers should be encouraged to show enthusiasm for intercultural activities with a view of acquiring various competencies that practiced by diverse groups. However, communication is crucial for the achievement of such objectives; hence, the parties involved should be in a position to speak a common language (Cifuentes Murphy 2000). Leadership is another aspect that has underpinned efficient control and management of virtual teams. According to Malhotra Majchrzak (2004), virtuous leadership in an organisation ensures the definition of clear goals and role in an attempt to realise quality outcome. Shachaf and Hara (2006) revealed that virtual team leadership helped in the efficient management of employees in organisations where diversity inclusion was highly regarded. Another aspect of leadership is ensuring the provision of mentorship and clear definition of resp onsibilities amongst diverse team members. Collaboration refers to the engagement and participation of people in a group to solve an issue based on a mutual agreement (Bjà ¸rn Ngwenyama 2009). Miloslavic, Wildman, and Thayer (2015) have attested that virtual teams are becoming popular in work environments. They result in the development of new techniques that are in line with the demands of the global market. This situation leads to increased work efficiency. However, leaders are cautioned to consider issues that can arise due to cultural differences and to embrace collaboration among the members of virtual teams to get the success of the organisation. Communication is crucial in bonding the employees; hence, robust communication channels should be developed in various entities that embrace virtual team management (Miloslavic, Wildman, Thayer 2015). Shachaf and Hara (2006) posit that leadership and trust are two factors that must go together when handling employees in virtual tea ms. People have unique and vast views, cultural differences, and technical skills among other factors. The researchers have failed to show how leaders engage employees in commitment to instil a sense of trust. Therefore, leaders should ensure that individuals who are included in the virtual teamwork show commitment to duty by instilling a sense of trust in them with a view of winning their attention (Shachaf Hara 2006). Jarvenpaa, Shaw, and Staples (2004) also attested that trust that was built among virtual team members and their leaders led to efficient work processes and quality outcome due to improved motivation, collaboration, and collective problem solving strategies that dependent on trust. It was perceived that trust reduced indistinctness and doubt in social viewpoints. A problem of how the trust is build is evident from such comments since effective leadership and management must be embraced. Carter et al. (2015) in his article on Leadership for global virtual teams for t he facilitation of team processes attested that leadership through collaborative interaction is paramount to the efficient management of businesses at the global level. As a result, global organisations require the development of virtual teams through effective management. They have attested that technology in communication has been used successfully to link virtual teams through proper leadership. They have further mentioned the importance of understanding cultural background of employees, nationalities, team dynamics, and communication technology to address issues that arise from virtual team management (Carter et al. 2015). Carte Deines (2013) also attested that team leadership results in improved networking among individuals who are both within and outside the teams. Performance and team development are fundamental functions of decent leadership (Bell Kozlowki 2002). A primary challenge that virtual teams experience is the realisation of efficiency during the implementation of concerted goals. The researchers have not elaborated the realisation of efficiency can be achieved. A better way of ensuring that leaders accomplish such tasks is by the sound institution of self-management and performance standards among the various parties that are involved in teamwork (Hunsake r Hunsaker 2008). Effective leaders should ensure that trust exists together with increased and efficient goal setting techniques that take into account the expectations of employees. They should also give room for continuous feedback to allow competencies and encourage cultural appreciation. Furthermore, Gazor (2012) posits that wise leaders use physical meetings to solve various challenges. However, in situations where geographical differences hinder communication, teleconferencing, and videoconferencing offer the best solutions. In conclusion, the essay has reviewed various pieces of literature on the possible communication solutions to the issues associated with virtual teams in the ef fective management of organisations. Leadership roles are paramount to the appropriate handling of productivity issues that arise in diverse physical work environments. Communication has been seen as a crucial factor in the management of virtual teams across transactional borders. To ensure effective implementation of information communication and technology networks amongst employees in different physical locations, an understanding of diverse cultural values, consumer behaviour, and dynamic innovation is highly encouraged. Statement of the Problem Although virtual team management has ensured smooth running of global businesses, a plethora of challenges is still encountered. One of the primary challenges that are experienced is technology disparity. A sizeable gap is seen in the advancement of technology between the developed and developing nations. A research that was conducted by the United Nations Economic and Social Council (2006) explicated a number of ways such as stimulation of international technology transfer and learning among others than can be adopted by developing countries to narrow the gap. While many companies appreciate the introduction and embracement of virtual teams in their organisational systems, many questions have been left unresolved. How do individuals of different languages and from varied culture share a common goal, understanding, and knowledge without face-to-face meeting? How can such people develop trust among themselves? What kind of technology should the managers use successfully among these people? Such questions among others need to be addressed since they form the basis of the challenges that arise from the management of virtual transactional teams. Information and Communication Technologies (ICT) encompasses communication equipment that is used in chatting sites, e-mail, websites, teleconferencing, and videoconferencing among others (Capece Costa 2009). The interconnection between various employee groups in diverse geogr aphical landscapes is greatly hindered due to poor communication and communication channels (Song Liu 2013). The world’s population appreciates the improved development of electronic information transfer that has ensured smooth organisation and distribution of duties (Cheshin et al. 2013). Improved technology has resulted in the development of robust communication means that have ensured quick response to various organisations, which have embraced decentralisation due to the existence of virtual teams. Nowadays, teams can conform and establish collaboration through electronic communications channels that are remotely located. However, there is still a need to exploit the varied opportunities that arise from international interactions. Although communication channels such as teleconferencing and videoconferencing among others means exist, other issues such as cultural diversity, understanding of different languages have not been fully addressed (Piccoli, Powell, Ives 2004). The contemporary world is characterised by fast development virtual teams with varied cultural, personal, and functional origins. If such topographies are not handled effectively, they can cause problems such as conflicts, disunity, and mistrust in organisations. The differences can be heightened due to the existence of geographical differences, poor communication, and lack of motivation, misunderstanding, and failure to appreciate the significance of cultural diversity and movement of labour across transnational boundaries (Piccoli, Powell, Ives 2004). Virtual teams can only perform well if proper management that embraces proper communication, motivation, appreciates cultural diversity, and creates collaboration based on the common goals of virtual teams among others. A majority of the studies have revealed that communication is the sole factor for the efficient management of virtual teams (Piccoli, Powell, Ives 2004). For instance, Taha, Ahmed, and Ale Ebrahim (2009) upheld such views by mentioning that advanced communication technology has enabled international business leaders to manage teams in distant work environments. The development of technology, especially in the twenty-first century, is a timely framework for the passage of information from one party to another by teleconferencing, videoconferencing, e-mailing, social networking, and online chatting. Although the aforementioned underpinnings are highly regarded, virtual team management requires a consideration of factors such as cultural diversity, respect, trust, and motivation among other aspects (Taha, Ahmed, Ale Ebrahim 2009). The researchers failed to mention how to incorporate such factors in communication to solve issues of virtual transactional teams. Incorporation of such factors in communication promotes the realisation of a common goal and understanding of the values, beliefs, and attitudes of diverse cultures. Another problem that should be addressed is how a company will ensure appr opriate handling of the above-mentioned communication factors. According to Geister, Konradt, and Hertel (2006), educating employees on the use of the videoconferencing or teleconferencing techniques alone is not satisfactory move towards the realisation of harmonious virtual teams. For instance, the existence of communication channels in organisations that embrace virtual teamwork does not necessarily mean that the employees have a common language that enhances the flow of information (Abbott, Gilbert, Rosinski 2013). In such circumstances, how does the company resolve the underlying virtual team issues? Other research works indicate that motivation among the employees results in the apt formulation of solutions in diverse work environments. Geister, Konradt, Hertel (2006) attested that group motivation is significant in the creation of collaborative workforce where individuals come from different cultural origins. This set of circumstances enables them to identify and appreciate various values, beliefs, and attitudes among other aspects of the cultures of their colleagues. The researchers limited their studies to virtual team motivation and never embraced factors such as effective communication and understanding of cultural diversity to solve problems of virtual transactional teams. According to Keller (2008), motivation encourages attention, confidence, relevance, and individual satisfaction. However, the research holds that enthusiasm only serves as a solution to managerial problems that are associated with virtual teams rather than examining the effects of other elements such as cultural diversity. It proofs that there is limited information on the methods (effective communication and embracing cultural diversity) to resolve the poor understanding of cultural differences that exist in virtual transactional teams (McArdle Anderson2001). Research Purpose The purpose of the study is to investigate effective communication, motivation, and understanding of cultural diversity to solve issues that arise from virtual team management across transnational borders. Hypothesis H0: Embracing effective communication, motivation, and understanding of cultural diversity do not help in solving problems that arise from the management of virtual teams across transnational borders. Main Research Question Does effective communication, motivation, understanding of cultural diversity solve the problems that arise from the management of virtual teams across transactional borders? Study Objectives To determine whether the proper implementation of effective communication, motivation, and understanding of cultural diversity solve problems that arise from the management of virtual teams across transactional borders To examine various motivational and leadership techniques that leads to collaboration among individuals of different cultural origins in the virtual teams Limitation of the Study The study will focus on the investigation of effective communic ation and understanding of cultural diversity to solve the problems that arise from the management of virtual teams across transactional borders. It will be limited to qualitative research design and analysis. The results will be used to illustrate a problem of communication, poor motivation and misunderstanding of cultural diversity in virtual teams to ensure that people understand the problem. The results will then be used to create awareness embracing effective communication and understanding of different cultures in organisations that practice virtual teamwork rather than the implementation of the plans. As a result, the findings will be based on the generalisation of the available information. Variables Various characteristics that will be measured include dependent variables such as the type of motivation, communication, trust, interactions, and leadership among others. The independent variables will cover the issues that are associated with virtual teams such cultural diversi ty among others. Methodology Research Design and Sampling plan Since the study focuses on investigation of effective communication, motivation and understanding of cultural diversity to solve communication problems in virtual teams across transnational borders, the research will entail a qualitative research design (Mahoney 2010). The nature of the research proposed guarantees investigation techniques thus its findings will be used to illustrate how effective communication can the understanding of cultural diversity in virtual teams are essential. It will be conducted in the various companies in the USA. Managers of the selected companies will be identified to seek contact information that will be useful in the facilitation of the research. Data will be obtained from the focus groups and interviews among other qualitative methods. Interview schedules will be subjected to the employees and managers of selected global companies that have organised virtual teams. Sample Size and Sampli ng Strategy 25 respondents will be selected randomly from each of the multinational companies. 20-percent of them will be from the managerial levels. The four companies to be included will be identified through secondary sources of data such as journals and articles on multinational co-operations based in the USA. The contacts their managers will be contacted using information available about their contact managers or phone numbers indicated in the secondary data. Research Instruments The interview schedule will be semi-structured to ensure detailed information capture. The respondents are expected to understand the both the instruments easily since they will be written in simple English (Cooper Emory 2002). Respondents’ feelings, beliefs, perceptions, and ideas will also ensure that the researcher uses the interview schedules. Some of the questions that will feature in the interview include the following. What do you understand by the term electronic communication? Does th e company embrace robust communication techniques? Does your company use electronic communication in educating virtual employees on common language for your business? Rationale for the Selection The USA was selected as the study area because the country has many multinational companies that embrace diversity inclusion and virtual team management. Rich information on the communication problems will be obtained from multinational companies that have established numerous subsidiaries in different geographic locations worldwide. This strategy will set a framework for studying the management of virtual teams in diversity. The chosen sampling design is also appropriate since the study will focus on the qualitative data. The research after evaluation will further analyse the implementation of motivational techniques and effective communication in ensuring effective communication among virtual teams. Data Analysis for Demographic Variables The demographic variables that will be considered in the study include age, education, virtual learning environment, blackboard usage, video and audio podcasts, and cultural background among others. The variables will be analysed using univariate analysis or tables. The results will be easily compiled using the SPSS version 21. The univariate analysis will indicate details about age distribution frequencies, central tendencies (mean, mode, and median), and dispersions such as range, standard deviation, and variance (Bradley, Curry, Devers 2007). Data Analysis for Study Variables Inferential statistics will be used to elaborate then inferences from the study. Tests that will be conducted include the t-test, Chi-Square test, and one-way ANOVA among other multivariate methods (Bradley, Curry, Devers 2007). Ethics for the Research This research will be conducted after seeking permission various multinational companies that will be selected for the study. The respondents will be issued with consent forms to participate willingly in th e study. Upon their acceptance, they will be engaged in the research (Miller et al. 2012). As aforementioned, the research will seek to investigate effective communication and motivation techniques in the management of in virtual teams across transnational borders. It will focus on seeking ways to alleviate the challenges that are encountered in the management of virtual teams with a view of increasing organisational efficiency. Review of Five Journal Papers relevant to the Topic ‘Leadership for Global Virtual Teams: Facilitating Teamwork Processes’ by Carter, Seely, Dagosta, De-Church, and Zaccaro In their article, Carter et al. (2015) posit that competition, complexities, and structures of organisations in the global scene have undergone tremendous change. However, with increased and sophisticated means of communication, linking virtual teams has become easier. This situation has resulted in effective management of business operations. Carter et al. (2015) further aff irm that managers must ensure a deeper understanding of cultural backgrounds, nationalities, communication technology, and team dynamics to resolve hitches the that arise from the management of virtual teams (Carter et al. 2015). ‘Structuring Successful Global Virtual Teams’ by Miloslavic, Wildman, and Thayer According to Miloslavic, Wildman, and Thayer (2015), teams have become paramount to efficient production in organisations. They further attest that teamwork results in increased the work handling capacity. It also provides new techniques that align with the demands of the global market. However, Miloslavic, Wildman, and Thayer (2015) posit that leaders should consider issues that can arise due to cultural differences. Resourceful collaboration among the members of virtual teams is required for the success of any organisation. However, communication is a crucial factor in creation and maintenance of bonds among employees. Robust communication channels should be deve loped by implementing advanced technological systems. Therefore, managers should ensure that methods such as videoconferencing and teleconferencing are implemented for success in management of virtual teams (Miloslavic, Wildman, Thayer 2015). ‘Leading Global Teams Means Dealing with Different’ by Wildman Griffith Wildman and Griffith (2015) attest that the current global business is faced with challenges that affect efficient virtual team leadership. Leaders must have the right knowledge and tools to explore cultural diversity with a view of alleviating challenges that are related to the embracement of virtual teams. Wildman and Griffith (2015) claim that leaders should be aware of interpersonal cues, diversity inclusion, and appreciation of the world’s diverse cultures. Factors such as virtual communication and mutual leader-follower relationships are paramount to the active contribution towards improved business performance (Wildman Griffith 2015). ‘Cu lture, Communication, and Conflict: A Review of the Global Virtual Team Literature’ by Scott Wildman Scott and Wildman (2015) view virtual teams as the most modern techniques used in various organisations to capture large market shares, meet vast needs of consumers, and overcome geographical barriers. In a research that was conducted prior to publishing of the article, Scott and Wildman (2015) found that the primary issues that dominated their findings regarding virtual information included cultural diversity, effective communication, and conflict management. Scott and Wildman (2015) mentioned that teleconferencing, video conferencing, and e-mailing were the feasible solutions for communication issues among the virtual teams. Understanding and appreciation of cultural diversity also play a critical role in the management of virtual teams (Scott Wildman 2015). ‘Virtual team management: what is causing communication breakdown?’ By Lockwood This article holds that flexibility in organisations and ICT improvement resulted in effective management of virtual teams in global businesses. Lockwood (2015), states that most executives experience management drawbacks due to language, cultural, and geographical barriers. Language complexities, cultural misunderstanding, and marginalisation are threats to the development of collaborative virtual teams. As a result, Lockwood (2015) affirms that there is a need for training staff in communication, leadership skills, and different cultural issues that affect the management of teams across transnational borders. Appendix Time Schedule for the Activities Based on 13-week project the following timeframe is scheduled for various activities Activity Time and Date Draft proposal to supervisor Early May 2015 Submission of the proposal Early May 2015 Approval of proposal End of May 2015 Delivering request letter to research office Early June 2015 Data collection and completion Early June to end of Ju ne 2015 Data analysis and completion Early July 2015 Review findings with supervisor Early July 2015 Review final draft report with supervisor Late July 2015 Submit final report to supervisor Early August 2015 References Abbott, G, Gilbert, K Rosinski, P 2013, Cross-cultural working in coaching and mentoring, John Wiley and Sons, Southern Gate, UK. Aragon, S Johnson, S 2002, ‘Emerging roles and competencies for training in effective communication environments’, Advances in developing human resources, vol. 4 no. 4, pp. 424-439. Bachmann, A 2006, ‘Melting pot or tossed salad? 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Using Standard Normal Distribution in Mathematics

Using Standard Normal Distribution in Mathematics The standard normal distribution, which is more commonly known as the bell curve, shows up in a variety of places. Several different sources of data are normally distributed. As a result of this fact, our knowledge about the standard normal distribution can be used in a number of applications. But we do not need to work with a different normal distribution for every application. Instead, we work with a normal distribution with a mean of 0 and a standard deviation of 1. We will look at a few applications of this distribution that are all tied to one particular problem. Example Suppose that we are told that the heights of adult males in a particular region of the world are normally distributed with a mean of 70 inches and a standard deviation of 2 inches. Approximately what proportion of adult males are taller than 73 inches?What proportion of adult males are between 72 and 73 inches?What height corresponds to the point where 20% of all adult males are greater than this height?What height corresponds to the point where 20% of all adult males are less than this height? Solutions Before continuing on, be sure to stop and go over your work. A detailed explanation of each of these problems follows below: We use our z-score formula to convert 73 to a standardized score. Here we calculate (73 – 70) / 2 1.5. So the question becomes: what is the area under the standard normal distribution for z greater than 1.5? Consulting our table of z-scores shows us that 0.933 93.3% of the distribution of data is less than z 1.5. Therefore 100% - 93.3% 6.7% of adult males are taller than 73 inches.Here we convert our heights to a standardized z-score. We have seen that 73 has a z score of 1.5. The z-score of 72 is (72 – 70) / 2 1. Thus we are looking for the area under the normal distribution for 1z 1.5. A quick check of the normal distribution table shows that this proportion is 0.933 – 0.841 0.092 9.2%Here the question is reversed from what we have already considered. Now we look up in our table to find a z-score Z* that corresponds to an area of 0.200 above. For use in our table, we note that this is where 0.800 is below. When we look at the table, we see that z* 0.84 . We must now convert this z-score to a height. Since 0.84 (x – 70) / 2, this means that x 71.68 inches. We can use the symmetry of the normal distribution and save ourselves the trouble of looking up the value z*. Instead of z* 0.84, we have -0.84 (x – 70)/2. Thus x 68.32 inches. The area of the shaded region to the left of z in the diagram above demonstrates these problems. These equations represent probabilities and have numerous applications in statistics and probability.

Performance Measurement Assignment Example | Topics and Well Written Essays - 250 words

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Lifelong Learning Essay Example | Topics and Well Written Essays - 4250 words

Lifelong Learning - Essay Example Super's theory included propositions relating to trait-and-factor theory, developmental psychology, and personal construct theory, from which Super derived his ideas about self-concepts and sociological theory. Super proved that the changes in the self-concept develop throughout the person's life as a result of experience. People modify their self-concepts depending on the career choice and new work conditions. The important part of Super's theory is dedicated to the construct of career concerns as divided by the six stages of person's development depending on the age span. Development stages were described by the theorist in the beginning of his career (1954) and are as the following: As we see these stages relate to the life-span dimension of the person: childhood, adolescence, adulthood, middlessence and senescence respectively coincide with career stages of growth, exploration, establishment, maintenance and disengagement. The career stages of adulthood that includes specification stage, implementation stage and stabilization stage describe adults who are looking for stability and advancement in their jobs. Stability referrers to as keeping the same job for a long time period, struggling to meet job requirements but still being concerned about one's competencies. On arrival in the job market, young adults reflect on how to achieve their vocational goals. They then move on to seeking a promising path by questioning their goals and abilities in an attempt to accelerate vocational development. The adult then "grapple with the occupational race", striving to reach a plateau of occupational status (Super, 1969)Once adults reach their late twenties, different aspects of their career choice is combined with the feeling of safety and certainty in their competence and dependability. Advancing in career implies promotions, or moving to a position with more responsibility, and may involve a higher income (Super, 1980). After career has been established, adults become concerned holding on, keeping up and innovating in their careers during the consolidation stage. In the final career stage at the age of around 55 people are sure about tomorrow's day and have no need to keep on working, so they declare retirement. In conclusion, perceived as a well-respected theory, Super's theory of career choice and development it is regarded as one of the most comprehensive approaches describing the crucial factors of person's career. Mezirow and transformative learning Mezirow in his theory of transformative learning focused on the idea of perspective transformation, which he understood as the learning process by which adults come to recognise and reframe their culturally induced dependency roles and relationships. Later he drew on the work of Habermas to propose a theory of transfo

Product Assessment Essay Example | Topics and Well Written Essays - 1250 words - 1

Product Assessment - Essay Example Fax machines had been very popular in offices and at home for transmitting messages anywhere for some time. According to coupon. chili.com website, an environmentalist group, there are about 46.3 million fax machines in the world, most of which are held in the United States, Japan, Germany, France and UK (in that order) . This group is worried on the environmental effect of the staggering amount of paper consumed by the operation which they presumed to reach 853 miles of paper or approx. 1.373 kilometers and an impact to 2 million trees used for paper. It was once an important piece of technology that is attached to a telephone. However it is now considered by several analysts as an outdated technology that has many flaws. In the office setting, it is considered as a security risk for information and one that consumes a lot of money and materials. Due to other available means of communication, the fax machine is now suffering from a steady decline. For instance, as cited by Nick Staf feiri (April 9, 2010), law firms in Philadelphia have decreased its facsimile usage by about 55 to 70% from previous years due to electronic preference of documents than paper. A survey done by Linkedin to 7,000 professionals in 17 countries around the globe showed that it is one of the products that is slowly losing its appeal and would disappear by 2017 (Vivian Gang. Sept 25, 2012). So it is closer to an end, and by this time manufacturers in the US should have developed a strategy to avert this closure. Recommendations Businesses have a product cycle of growth, maturity and decline. In each stage businesses have to adjust strategies to complement the needs of the market and environment. In the declining stage, businesses will notice a decline in sales of the product or service. a. When a product reaches declining stage, it is about time that the company does strategic actions to resuscitate the dying business. At this point, company should look into foreign markets that have need for the fax machine. Wagner, K. (May 15, 2013), a reporter of the CNN, argued that in some markets, fax machines refused to die. This is the case in Japan wherein the popularity of fax machines has grown roots into the Japanese society. Old folks have developed attachment to the fax machine that they found it hard to replace regardless of the modern technology. Taking this as a cue, manufacturers of fax machine should take the market opportunity of developing third world countries. Statistics compiled by the Nation Master website showed that there are more users of fax machine in Japan aside from US, than in any other countries while fewer users are shown for African and Asian countries. This is an opportune time to develop these regions and introduce the product. b. It is also about time that manufacturers of fax machines upgrade their product to cope up with the advent of new technology. In order for the fax system to expand, it will be necessary to bring into it developments of multiple functions of the information system. But of course, this will be a tall order that will cause its reinvention and would incur a lot of new investments. Adding new features would be a risky investment where return of investment is not sure. c. Reduce marketing expenses such as advertisements and promotions. These are overhead expenses that could reduce operating cost and help preserve the business, and if sales do not improve, manufacturer

Funding Education Essay Example | Topics and Well Written Essays - 1000 words

Funding Education - Essay Example Funding Education The university has principled values that is inculcated in all the students. Honesty, efficiency, exceptionality, and modesty are inscribed in students during the course of study. Every employer looks for an honest person. Now, being that the university is known for producing people of unquestionable integrity one would find it pleasurable and an honor to be part of this fraternity (British qualifications, 457). Employers also do not only want results, but they are impressed with exceptionality: a thing that the university inculcates in the course of study. The university teaches on how one can become innovative hence remarkable achievement in any field of endeavor. Queen Mary University is reach in diversity with an international outlook. This aspect of the university makes in a good ground for interaction and a place of multi-cultural experience. The university also has various exchange programs with many universities in other countries of the world. The university has such programs to help in the expansion of the worldview of its students. The grandaunts of this university are always diverse in opinion and they are often prepared to serve in any part of the world because of the nature of socialization in this great university. The university is not streamlined to the course work but it also gives the students the opportunity to interact widely and to experience the rest of the world.

Arms And The Man Essay Example | Topics and Well Written Essays - 750 words

Arms And The Man - Essay Example The second act takes place four months later after the war ends and Sergius and Major Petkoff return. Though Raina and Sergius declare eternal love, they are only acting and their real feelings are very different. Sergius soon begins flirting with the maid Louka, and Raina’s thoughts keep returning to her chocolate crà ¨me soldier. Bluntschli comes back to return a coat he has borrowed from the Petkoffs and now that the war is over he is welcomed by Sergius and Major Petkoff and even helps them in moving their armies since as a pragmatist, he is willing to fight for whichever side pays. Bluntschli makes fun of Raina's romantic pretentiousness; though he is secretly attracted to her. Things come to head when Louka in trying to get Sergius for her self-tells him about Raina and Bluntschli. Sergius gets jealous and challenges Bluntschli to a duel, he accuses Raina of secretly trysting with Bluntschli, but they both deny this. Bluntschli tries to help Sergius repair things with R aina, but it is too late as Sergius’s philandering with Louka also comes out also. During all this, a letter arrives informing Bluntschli that his father has died and that he must return to Switzerland immediately. Sergius finally rejects his romantic ideals and declares his intention to marry Louka. When Bluntschli discovers Raina is twenty-three and not a teenager as he had thought he quickly asks her parents for her hand in marriage. When they find out how wealthy he is, they agree, and after some token resistance, Raina submits 1.

A Substance Misuse Patient, Either Drug or Alcohol Use Essay

A Substance Misuse Patient, Either Drug or Alcohol Use - Essay Example Unfortunately for the patient in question, his situation has been so bad that it has resulted into an addiction (Furniss et al., 2000). Basically, the situation deteriorated because the patient did not have access to effective counselling to win him out of the misuse of drugs when the situation was first started. This makes the patient an ideal subject for a case study because it goes a long way to outline the basic responsibilities of substance misuse nurses on drugs and alcohol that have been neglected (British Medical Association & Royal Pharmaceutical Society of Great Britain, 2002). It is unfortunate that most substance misuse nurses pay so much attention to treatment and cure instead of prevention. Once this happens, a lot of people whose level of understanding on drug use is low will be affected in the long run. What is even more disturbing is the fact that once the effects of substance abuse become deteriorated, it becomes difficult to reverse them. Should nurses be proactive in their duties, it would go a long way to educating the masses on the need to resist from certain drugs, the need to take drugs within prescribed quantities, the need to avoid the use of drugs that are not prescribed (Fought, Shorr, & Ray, 2010). The situation of the current patient is so bad that he is currently exhibiting greater percentage of the side effects associated with the misuse of chlordiazepoxide. For instance the patient constantly shows signs of confusion and forgetfulness (Chan, Lunn, & Donoghue, 2007). When the patient is listening to given instructions, he finds it very difficult to follow up to its logical conclusion. For this reason, it is common to see that the patient will start executing a particular command but after a short while will divert into doing something else that was not within the instruction. Once a while also, the patient reports of drowsiness and there have been times that the patient has actually collapsed as an effect of the chemical reaction s that the drug undertakes in him. During some of these occasions however, the patient is able to quickly gain consciousness. Quite recently also, it has been discovered that the patient has started developing skin eruptions, yellow eyes and nausea (Keene, et al. 2007). Clinical diagnosis indicates that the patient’s situation has come to such a level because the patient actually has acute intoxication with alcohol. Medically, this condition arises as a result of excessive alcohol content in the body of the patient. This condition of acute intoxication with alcohol is not ideal for the intake of chlordiazepoxide but due to the low level of education on the part of the patient, he kept combining these two situations till it has grown this worse (Tully, et al., 2012). This again explains the neglected roles of substance misuse nurses and the need to use the present paper to review the national and local framework for medicine in the United Kingdom context and understudy the eff ect of these frameworks on the healthcare delivery system in United Kingdom. Overview of National and Local Frameworks for Medicine Use As a nation, the United Kingdom has strict regulations that guide the use of medicines. These regulations come in two major forms, which are national and local frameworks for medicine use. The national frameworks serve as the constitutional

Arms And The Man Essay Example | Topics and Well Written Essays - 750 words

Arms And The Man - Essay Example The second act takes place four months later after the war ends and Sergius and Major Petkoff return. Though Raina and Sergius declare eternal love, they are only acting and their real feelings are very different. Sergius soon begins flirting with the maid Louka, and Raina’s thoughts keep returning to her chocolate crà ¨me soldier. Bluntschli comes back to return a coat he has borrowed from the Petkoffs and now that the war is over he is welcomed by Sergius and Major Petkoff and even helps them in moving their armies since as a pragmatist, he is willing to fight for whichever side pays. Bluntschli makes fun of Raina's romantic pretentiousness; though he is secretly attracted to her. Things come to head when Louka in trying to get Sergius for her self-tells him about Raina and Bluntschli. Sergius gets jealous and challenges Bluntschli to a duel, he accuses Raina of secretly trysting with Bluntschli, but they both deny this. Bluntschli tries to help Sergius repair things with R aina, but it is too late as Sergius’s philandering with Louka also comes out also. During all this, a letter arrives informing Bluntschli that his father has died and that he must return to Switzerland immediately. Sergius finally rejects his romantic ideals and declares his intention to marry Louka. When Bluntschli discovers Raina is twenty-three and not a teenager as he had thought he quickly asks her parents for her hand in marriage. When they find out how wealthy he is, they agree, and after some token resistance, Raina submits 1.

Mlb monopoly market structure Essay Example for Free

Mlb monopoly market structure Essay Major League Baseball (â€Å"MLB†) is the only American Industry that is a self-regulating monopoly exempt from anti-trust law. In 1922, there was the U. S. Supreme Court Case of Federal Baseball Club v. National League and the judge unanimously decided that the Sherman Antitrust Act was not applicable to MLB and could therefore regulate as a monopoly. Furthermore, this decision was later reaffirmed in 1952 and 1972 in two different U. S. Supreme Court cases. This antitrust exemption has given increased monopolistic power to the MLB organization. MLB Monopolistic Characteristics Monopoly is defined as â€Å"A market structure in which there is only a single seller of a good, service, or resource. In antitrust law, a dominant firm that accounts for a very high percentage of total sales within a particular market. † The following characteristics that label the MLB as a Monopoly are the following: (a) one unique firm/product (i. e. , no other industry like the MLB and it’s impossible to duplicate); (b) absence of competition (i. e. , granted from anti-trust laws); (c) profit maximization (i. e. , attendance increasing even as prices increasing); (d). â€Å"Price Makers† (i. e. , control price and possible price discrimination); and (e) impenetrable barriers of entry into market (i. e. , highly unlikely to enter into industry). MLB Controlling Powers Major League Baseball and specifically their team owners can raise ticket and concession prices whenever they want to increase profits. For example, less desirable stadium seats are much lower in price than â€Å"good† seats. The MLB also sets prices based on team location. For example, I know first-hand that prices for the New York Yankees are much higher than those for the Chicago White Sox. In addition to controlling prices, MLB also controls output. They set the season schedule at 162 games with half of those being home games. Since there are limited amounts of homes games owners know that they can keep increasing prices for tickets and concession stands. Conclusion Major League Baseball’s ability to control prices, set extreme difficulty on barriers of entry and to eliminate competition definitely identifies them as a Monopoly market structure. Furthermore their use of pricing strategies, which include setting ticket prices according to the view of the field, discount group pricing for lower attended weekday games and games against lesser teams, discounts for seniors/students/military, increased prices for suites and luxury boxes, and parking priced depending on location to stadium (i. e. , closer parking to stadium is more expensive). However, even with all of these increasing prices and price controls the MLB continues to set attendance records each and every year. I personally love Major League Baseball and I’m willing to pay any prices when I want to go to the ballpark and watch a game. Bibliography/References Haupert, Michael, edit by Robert Whaples. (2007, December 3). The Economic History of Major League Baseball. Retrieved September 26,2011, from EH. Net Encyclopedia Web site: http://eh. net/encyclopedia/article/haupert. mlb McConnell, Campbell R. Economics, 19th Edition. McGraw-Hill Learning Solutions, 2012. p. G-18.

Impact of Corporate Governance on Capital Investment

Impact of Corporate Governance on Capital Investment Introduction Overview Through various studies over the years, different scholars and financial analysts have been able to establish a relationship of cash flow on firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ investment spending. It was significantly proven by (Modigliani Miller, 1958) that a firmâ„ ¢ financial status is irrelevant for real investment decisions in a world of perfect and complete capital markets, after controlling for the cost of capital. In case of managerial discretion, based on (Jensen, 1986) free cash flow theory, firms increase investment (including projects with negative present value) based on the availability of cash flows with incentive of increasing firmsâ„ ¢ value beyond level of optimal investment. Moreover, an agency costs also appreciate the borrower net worth by charging a premium on the external financing. The discussion above explains that the firmsâ„ ¢ investment decisions are dependent on the availability of internal funds, as cost advantage over external fund is evident. While choosing an appropriate capital structure, there are certain trade-offs which affects the decision. These trade-offs include tax advantage through acquiring debt against the bankruptcy cost which advocates the use of equity. Keeping this in view, various different models have been supported to explain this corporate capital structure behavior. Pecking Order Theory, initially mitigated by (Donaldson, 1961) describes the financing practice as prioritizing the means of financing, which is necessary for the management to counter against asymmetric information. Either they should generate the funds internally or acquire funds externally through debt rather than equity. Implications to the pecking order theory involves the positive impact of leveraging on the market price, which means, financing through debt sends a positive signal into the market about the firmâ„ ¢ future prospects. Furthermore, intermediaries also undermine the role of management as the financial intermediaries such as investment banks function as the insider to the firm. Consequently, keeping an eye on the firms operations and influencing the firmâ„ ¢ capital financing decision. However, Pecking order theory of (Myers, 1984) argues that the firms operating in imperfect or incomplete capital markets where the cost of external capital exceeds that of internal funds, the financial structure may be appropriate to the investment decisions of companies facing uncertain prospects. Gauging the level of corporate investment in any firm is based on the corporate governance; market position of a firmâ„ ¢ asset against its book value can be termed as Tobinâ„ ¢ q ratio. Identified by (Chung Pruitt, 1994), Tobinâ„ ¢ q as the ratio of a market value of a firm to the replacement cost of its assets. Tobinâ„ ¢ q can be considered an effective tool for determining financial performance as the data can be collected readily from a balance sheet. When calculating Tobinâ„ ¢ q ratio, the replacement cost can be determined approximately by the book value of firmâ„ ¢ plant and equipment. Approximate q can be replaced with the actual Tobinâ„ ¢ q to make the calculations unproblematic and data can be readily available without any discrepancies. Problem Statement To study the impact of corporate governance on the capital investment decision through cash flow and Tobinâ„ ¢ q interaction in relation with Capital Investment HypothesEs H0: Firms with investment spending that is influenced by cash flow will be associated with high Q values. In fact, the equilibrium level of Q for these firms will be larger than one. (FCF Theory) HA: Firms indicating a liquidity constraint by not paying dividends will have the most significant cash flow/investment relationship, and will be associated with high Q values in the market. (PO Theory) Outline of the study The report contains the contemplation of research data that will study the phenomenon of cash flows and investment discussed earlier in this paragraph. The study categorizes firms according to characteristics (such as dividend payout, size) which will help measure the level of constraints faced by firms. The study will help readers to understand the complexities of Pecking order theory and Free Cash Flows concept with regard to asymmetric information available and corporate governance which influences decision of the firms. To measure the effect that cash flow-financed capital spending and Q has on firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ investment, Ordinary Least Square Regression model will be used to estimate the function. To compute the influence on the Investment, instruments used are: (1) Cash Flow, (2) Approximate q, and (3) an interaction of both variables are created. Through studying the parameter estimates of interaction variable, positive influence on investment will support the Pecking Order hypothesis and negative influence will govern the Free Cash Flow hypothesis. The equation hypothesized in the next part is linear. Definitions Pecking Order Theory: (Myers, 1984): A firm is said to follow a pecking order if it prefers internal to external financing and debt to equity if external financing is used. Free Cash Flow Theory According to (Jensen, 1986) free cash flow theory, high cash flow and low debt create agency costs associated with conflicts between manager and share holder over the payout of this free cash, which is the cash left after the firm has invested in all available positive net present value projects. Capital Structure A careful and systematic analysis of how claims against a corporations assets can or should be determined, assessed, and accounted for. (Riahi-Belkaoui, 1999) Capital Investment Decision Capital Investment decisions are those decisions that involve current outlay in return for a stream of benefit in future years. (Drury, 2006) Tobinâ„ ¢ q Tobins q is a measure of investors expectations concerning a firms future profit potential. It is defined as the ratio of the market value of a firm to the replacement cost of its assets. (Strecker, 2009) Literature Review (Vogt, 1994) explained the capital spending behavior of companies with respect to change in dividend cash paid, cash flows, sales, and market value of assets. The regression equation models the variables to proportion of fixed assets, and distributes the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ data in segments of Dividend Payout Groups and Asset Groups. Primarily, Dividend Cash has a strong negative impact on capital spending; it explains that in order to finance additional fixed investment firm needs to sock cash by reducing their dividend. Cash flow, Sales, and Q Ratio having a positive coefficient demonstrates that with an increase in future cash flows, the firm will improve its capital spending. (Cleary, 1999) has developed a relationship between the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ investment decision and the firmâ„ ¢ financial status. Financial status has been studied with respect to the liquidity constraints. The data is classified into groups through a discriminant analysis on basis of dividend payout policy. These groups helped identify which firms are more prone to be financially constrained and the results showed that firms having high credit worthiness are significantly more sensitive to the availability of internal funds than that are less credit worthy. It has been proposed that the various ownership structures make managerial decision based on the interaction between investment and the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ liquidity constraints. The study conducted by (Dedoussis Papadaki, 2010) mentioned that the management can be held separate from its ownership, even on basis of the nationality of the company. On the other hand, it also explained that the relative shareholding of CEO and the controlling shareholders can also be the basis of separation. Findings support that the Low Q, small, and new firms under the generalized model are facing asymmetric information problems. Indeed these firms are expected a priori to face financing problems that affect the cost of their external financing. On the other hand, low Q, old and low dividend firms are more likely to face managerial discretion problems that result to over-investment. The impact of Tobinâ„ ¢ Q is mainly used to determine the investment opportunity of the firm. In this article, marginal Tobinâ„ ¢ Q has been taken to evaluate the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ investment and Research Development expenditures. Under the asymmetric information (AI) hypothesis firms with attractive investment opportunities may be unable to finance them because of inadequate internal cash flows and because the cost of external funds is too high due to the capital markets ignorance of the firms investment opportunities. The agency or managerial discretion (MD) hypothesis links investment to cash flows by assuming that managers obtain financial and psychological gains from managing a large and growing firm and thus invest beyond the point that maximizes shareholder wealth. (Gugler, Mueller, Yurtoglu, 2004) Taking in viewpoint the impact of capital structure on the capital investment decision, firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ investment demands is the more susceptible towards cost-of-capital or tax-based capital incentive. Whereas, capital structure seems irrelevant as against internal sources of funds can be effectively substituted with sources of funds generated externally. (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) explicates that cash flow/investment relationship is more sensitive when taken in reference with firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ dividend behavior. Comparison based on firms having more or less liquidity constraints can be further improved when compared on a division based on the scale of the firms, i.e. young or small firms versus large ones. This way the researchers can address the problem of firms lacking the asymmetric information. Research Methods The chapter explains the model used in the given research study. The study focuses on analyzing the influence of Cash Flows and Tobinâ„ ¢ q on Corporate Investment. The equation representation consists of the proportion of capital spending to the beginning-of-periods net fixed asset (I/K) as a function of: (1) cash flow divided by beginning-of-period gross fixed asset (CF/K), and (2) beginning-of-period Tobins q (Q). Method of Data Collection Main source of collecting the required data is from secondary sources. It includes the Balance Sheet Analysis of Joint Stock Company listed in Karachi Stock Exchange provided by State Bank of Pakistan consisting of data of our relevant variables. The data was taken in annual terms to conduct this research. Sampling Technique The Convenience sampling or grab or opportunity sampling would be use in this research. Sample population selected because it is readily available and convenient. Sample Size The sample period taken under study covers 8-years period beginning at the start of 2000 and ending at the close of 2008. The data was taken from a sample of 70 (non-banking and non-financial) companies which are listed on Karachi Stock Exchange and included in KSE-100 index. Research Model Statistical technique Ordinary Least Square Regression technique is used to study the impact of variables included in the study. It helps studies the relationship between a dependent variable and several independent variable. It also assumes the relationship to be linear or ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"straight line,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€š? where the values of predictors lies directly proportional to Criterion variable. SPSS Software is used to develop the regression model and evaluate the influence of predictors on dependent variable. Results Findings and interpretation of results Aggregate Sample: Table : Represents the model summary of regression estimates for the full sample of 69 firms The predictors, i.e. main effects of Cash Flow and Tobinâ„ ¢ q and an interaction term of both, included in the model helps explain 78.5% of Investment (Table 1) shown mentioned as R Square. Least variation in Adjusted R Square suggests that the variable to observation ratio in the given model is sufficient. Casewise diagnostic was also conducted to eliminate the outliers in the data to improve the results. Table : Studies the F-statistics to test whether the model predicts the dependent variable significantly The F-statistics (Table 2) is significant and it determines the regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : The parameter estimation for full sample of 69 firms with respect to dependent variable, t-statistics is used to test the null hypothesis ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²1 = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²2 = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²3 = 0 The coefficient values of all predators included in the test are significant at a 0.05 significant level (Table 3), which shows that they have a strong influence on the investment of the firm. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobinâ„ ¢ q. Dividend Payout groups: Table : Presents the sample statistics for 69 KSE listed (non-banking and non-financial) companies which are included in the KSE-100 index. The three rows distribute the statistics into High, Medium, and Low payout policies. Average dividend-to-income ratios of greater than 0.35, between 0.35 and 0.10, and less than 0.10 define High, Low, and Medium dividend-payout firms, respectively. While studying the dividend-payout groups (Table 4), the descriptive helps to identify characteristics to confirm whether the data being studied has the authenticity and the behavior pattern which commonly related to the groups assigned. The values of Investment, Cash Flow, and Tobinâ„ ¢ q associated with the groups are in complete correspondence with the hypothetical occurrence. Firms having a higher (lower) dividend payout have greater (lower) market value, and lower(higher) level of cash flows and investments. Table : Represents the model summary of regression estimates of 69 firms split by High, Medium, and Low dividend-payout policies. The model helps explains 81.9%, 66.7%, and 80% data in High, Medium, and Low dividend-payout firms (Table 5), shown in R Square. Least variation in Adjusted R Square suggests that the number of observations is sufficient with respect to variables in each group separately. Table : Studies the F-statistics to test the null hypothesis of ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²1, H = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²1, M = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²1, L The F-statistics (Table 6) in each dividend payout group is significant and it determines that each regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : Shows the parameter estimation for each payout groups with respect to dependent variable, t-statistics is used to test the null hypothesis ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²1 = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²2 = ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²3 = 0 The coefficient values of predators in High and Low dividend payout groups are all significant at a 0.05 significant level (Table 7), which shows that they have a strong influence on the investment of the firm. Except for Medium dividend payout group, which has insignificant coefficient values of Tobinâ„ ¢ q, showing no impact on the investment. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobinâ„ ¢ q. Hypothesis Assessment Summary Hypothesis Independent Variables B t Sig. Comments Firms with investment spending that is influenced by cash flow will be associated with high Q values. In fact, the equilibrium level of Q for these firms will be larger than one. (FCF Theory) Cash Flow ÃÆ'Æ’Ã ¢Ã¢â€š ¬Ã¢â‚¬  Q H0= ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²3 ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²3,H = .135 5.295 .000 Rejected ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ² 3,M = .072 .991 .324 ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ² 3,L = .140 5.482 .000 Firms indicating a liquidity constraint by not paying dividends will have the most significant cash flow/investment relationship, and will be associated with high Q values in the market. (PO Theory) Cash Flow ÃÆ'Æ’Ã ¢Ã¢â€š ¬Ã¢â‚¬  Q HA= ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ²3 >0 ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ² 3,H = .135 5.295 .000 Accepted ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ² 3,M = .072 .991 .324 ÃÆ'Ã…Â ½Ãƒâ€šÃ‚ ² 3,L = .140 5.482 .000 Dependent Variable: Investment Table : Summarizes the results and explains that the hypothesis accepted is directly in correspondence with the aggregate hypothesis. As illustrated (Table 8) capital spending of low payout firms is positively and strongly influenced by the interaction term, consistent with the PO hypothesis, the parameter estimate for the high payout firms are also positive but marginally significant. Conclusion, Discussions, Implications And Future Research Conclusion The results illustrated above demonstrates that the positive relationship between the degree of the CF/I relationship and Q found latter in the aggregate data (Table 3) is concentrated in low or no dividend paying firms. This finding is in further support with the PO hypothesis. Discussions The objective was to study and test the causes of universal relationship between Cash Flow and Investment Spending. Hence, two hypotheses were included in the research to study the source of this relationship: the free cash flow hypothesis (FCF) hypothesis, which works on the assumption that managers prefer investing its free cash flow excessively into investment projects that are not profitable, and the pecking order hypothesis (PO) purports that managers are prone to investment comparatively less than the opportunity provided due asymmetric information-induced liquidity constraint. As advocated in favor of Pecking Order Theory by (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) and many others, for groups which consists of small firms with low-dividend payout to fund capital spending, exhibits heavy reliance on cash flow and cash changes. The relationship can be more significantly studied when the impact of larger q value is associated with this group. Evaluating the impact of corporate governance on investment-cash flow relation requires a critical judgment as to how do the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ cash flow and the existing market value influence the investment decision. Financially constraint firms may have a larger impact on liquidity associated matters and managers might take discretion in choosing the right sources to tap. Agency cost may be involved in making such a decision where managers may consider paying dividend as a higher opportunity cost as it reduces the firmsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ free cash flow to exploit new profitable investment projects. Implications and Recommendations In the current market situation where external pressures existing can also be taken into proxy. When managers making a capital investment decision they need to take in view other non-financial aspects that also influences the decisions to a certain extent. Furthermore, financial intermediaries having a certain level of involvement and sharing information sensitive to the market can also be a major factor that might be giving a varying result against Investment. Investing in profitable-investment projects can bring in greater resources to the firm in future and it entails a huge decision burden upon the shoulders of the managers. Shareholders expecting to earn a greater return through investing in them can also be undermined when manager decided to have a low payout policy. Funds generated internally is a possibility where there is a healthy cash flow, but it is also preferable if this free cash is invested into marketable security for allocating the resources into a profitable venture for a time being to make it a positive impression. Future Research In future studies there may be more aspects of cash flow-investment relationship which can be studied for assessing the degree impact it has on this relationship, i.e. sales, debt performance, capital structure, firm size, etc. The research study may also be improved if the observation of firms are increased that will in turn reflect a more clear picture about the relationship in the current scenario.