Monday, May 25, 2020
Those Who Exalt Themselves: The Pride of Hektor I. Introduction While pride is a vice that is often frowned upon in modern cultures, it occupied a vastly different place in ancient Greek culture. Indeed, it was often inextricably tied to their concept of glory and heroism. Be as that may, Homer, in The Iliad of Homer, despite it being one of the most well-known pieces of ancient Greek literature, portrays pride in a more negative light than was the norm of his time. Pride in the Iliad most often causes much destruction and ends up being the downfall of many key characters, including Achilleus and Agamemnon. When the pride of Agamemnon is such that he misappropriates one of AchilleusÃ¢â¬â¢s war-won concubines, which ignites AchilleusÃ¢â¬â¢s pride to the point of refusing to fight in the war, they nearly singlehandedly hand over the victory to the Trojans. Given that these two eventually reconcile, however much they personify pride, it is Hektor whose hubris ultimately brings about his downfall. Homer uses HektorÃ¢â¬â¢s storyline to exemplify the dangers of excessive pride and warn against allowing it to govern your actions. In his pursuit of pride and glory, Hektor shames himself by bringing about the deaths of his men and is killed after realizing his mistakes and seeking to restore his honor. It is only when Priam abandons his pride and humbles himself that HektorÃ¢â¬â¢s storyline is resolved. II. Opposition Greek culture heavily stressed the importance of material goods as a status symbol. In
Thursday, May 14, 2020
Self-concept is our personal knowledge of who we are, encompassing all of our thoughts and feelings about ourselves physically, personally, and socially. Self-concept also includes our knowledge of how we behave, our capabilities, and our individual characteristics. Our self-concept develops most rapidly during early childhood and adolescence, but self-concept continues to form and change over time as we learn more about ourselves. Key Takeaways Self-concept is an individuals knowledge of who he or she is.According to Carl Rogers, self-concept has three components: self-image, self-esteem, and the ideal self.Self-concept is active, dynamic, and malleable. It can be influenced by social situations and even ones own motivation for seeking self-knowledge. Defining Self-Concept Social psychologist Roy Baumeister says that self-concept should be understood as a knowledge structure. People pay attention to themselves, noticing both their internal states and responses and their external behavior. Through such self-awareness, people collect information about themselves. Self-concept is built from this information and continues to develop as people expand their ideas about who they are. Early research on self-concept suffered from the idea that self-concept is a single, stable, unitary conception of the self. More recently, however, scholars have recognized it as a dynamic, active structure that is impacted by both the individualÃ¢â¬â¢s motivations and the social situation. Ã Carl RogersÃ¢â¬â¢ Components of Self-Concept Carl Rogers, one of the founders of humanistic psychology, suggested that self-concept includes three components: Self-Image Self image is the way we see ourselves. Self-image includes what we know about ourselves physically (e.g. brown hair, blue eyes, tall), our social roles (e.g. wife, brother, gardener), and our personality traits (e.g. outgoing, serious, kind). Self-image doesnÃ¢â¬â¢t always match reality. Some individuals hold an inflated perception of one or more of their characteristics. These inflated perceptions may be positive or negative, and an individual may have a more positive view of certain aspects of the self and a more negative view of others. Self-Esteem Self-esteem is the value we place upon ourselves. Individual levels of self-esteem are dependent on the way we evaluate ourselves. Those evaluations incorporate our personal comparisons to others as well as othersÃ¢â¬â¢ responses to us. When we compare ourselves to others and find that we are better at something than others and/or that people respond favorably to what we do, our self-esteem in that area grows. On the other hand, when we compare ourselves to others and find weÃ¢â¬â¢re not as successful in a given area and/or people respond negatively to what we do, our self-esteem decreases. We can have high self-esteem in some areas (I am a good student) while simultaneously having negative self-esteem in others (I am not well-liked). Ideal Self The ideal self is the self we would like to be. ThereÃ¢â¬â¢s often a difference between oneÃ¢â¬â¢s self-image and ones ideal self. This incongruity can negatively impact oneÃ¢â¬â¢s self-esteem. According to Carl Rogers, self-image and ideal self can be congruent or incongruent. Congruence between the self-image and ideal self means that there is a fair amount of overlap between the two. While it is difficult, if not impossible, to achieve perfect congruence, greater congruence will enable self-actualization. Incongruence between the self-image and ideal self means thereÃ¢â¬â¢s a discrepancy between oneÃ¢â¬â¢s self and oneÃ¢â¬â¢s experiences, leading to internal confusion (or cognitive dissonance) that prevents self-actualization. Development of Self-Concept Self-concept begins to develop in early childhood. This process continues throughout the lifespan. However, it is between early childhood and adolescence that self-concept experiences the most growth. By age 2, children begin to differentiate themselves from others. By the ages of 3 and 4, children understand that they are separate and unique selves. At this stage, a childs self-image is largely descriptive, based mostly on physical characteristics or concrete details. Yet, children increasingly pay attention to their capabilities, and by about 6 years old, children can communicate what they want and need. They are also starting to define themselves in terms of social groups.Ã Between the ages of 7 and 11, children begin to make social comparisons and consider how theyÃ¢â¬â¢re perceived by others. At this stage, childrenÃ¢â¬â¢s descriptions of themselves become more abstract. They begin to describe themselves in terms of abilities and not just concrete details, and they realize that their characteristics exist on a continuum. For example, a child at this stage will begin to see himself as more athletic than some and less athletic than others, rather than simply athletic or not athletic. At this point, the ideal self and self-image start to develop. Adolescence is a key period for self-concept. The self-concept established during adolescence is usually the basis for the self-concept for the remainder of oneÃ¢â¬â¢s life. During the adolescent years, people experiment with different roles, personas, and selves. For adolescents, self-concept is influenced by success in areas they value and the responses of others valued to them. Success and approval can contribute to greater self-esteem and a stronger self-concept into adulthood. The Diverse Self-Concept We all hold numerous, varied ideas about ourselves. Some of those ideas may only be loosely related, and some may even be contradictory. These contradictions dont create a problem for us, however, because weÃ¢â¬â¢re conscious of only some of our self-knowledge at any given point in time.Ã Self-concept is made up of multiple self-schemas: individual concepts of a particular aspect of the self. The idea of self-schema is useful when considering self-concept because it explains how we can have a specific, well-rounded self-schema about one aspect of the self while lacking an idea about another aspect. For example, one person may see herself as organized and conscientious, a second person may see himself as disorganized and scatter-brained, and a third person may have no opinion about whether she is organized or disorganized.Ã Cognitive and Motivational Roots The development of self-schema and the larger self-concept has cognitive and motivational roots. We tend to process information about the self more thoroughly than information about other things. At the same time, according to self-perception theory, self-knowledge is acquired in much the same way as we acquire knowledge about others: we observe our behaviors and draw conclusions about who we are from what we notice. While people are motivated to seek out this self-knowledge, they are selective in the information to which they pay attention. Social psychologists have found three motivations for seeking self-knowledge: To discover the truth about the self, regardless of what is found.To discern favorable, self-enhancing information about the self.To confirm whatever one already believes about the self. Malleable Self-Concept Our ability to call up certain self-schemas while ignoring others makes our self-concepts malleable. In a given moment, our self-concept is dependent on the social situations in which we find ourselves and the feedback we receive from the environment. In some cases, this malleability means that certain parts of the self will be especially salient. For example, a 14-year-old may become especially aware of her youth when she is with a group of elderly people. If the same 14-year-old was in a group of other young people, she would be much less likely to think about her age. Self-concept can be manipulated by asking people to recall times when they behaved in a certain way. If asked to recall times when they worked hard, individuals are generally able to do so; if asked to recall times wen they were lazy, individuals are also generally able to do so. Many people can remember instances of both of these opposing characteristics, but individuals will generally perceive herself as one or the other (and act in accordance with that perception) depending on which one is brought to mind. In this way, self-concept can be altered and adjusted. Sources Ackerman, Courtney. What is Self-Concept Theory in Psychology? Definition Examples. Positive Psychology Program, 7 June 2018. https://positivepsychologyprogram.com/self-concept/Baumeister, Roy F. Ã¢â¬Å"Self and Identity: A Brief Overview of What They Are, What They Do, and How They Work.Ã¢â¬ Annals of the New York Academy of Sciences, vol. 1234, no. 1, 2011, pp. 48-55, https://doi.org/10.1111/j.1749-6632.2011.06224.xBaumeister, Roy F. Ã¢â¬Å"The Self.Ã¢â¬ Advanced Social Psychology: The State of the Science, edited by Roy F. Baumeister and Eli J. Finkel, Oxford University Press, 2010, pp. 139-175.Cherry, Kendra. Ã¢â¬Å"What is Self-Concept and How Does It Form?Ã¢â¬ Verywell Mind, 23 May 2018. https://www.verywellmind.com/what-is-self-concept-2795865Markus, Hazel, and Elissa Wurf. Ã¢â¬Å"The Dynamic Self-Concept: A Social Psychological Perspective.Ã¢â¬ Annual Review of Psychology, vol. 38, no. 1, 1987, pp. 299-337, http://dx.doi.org/10.1146/annurev.ps.38.020187.001503McL eod, Saul. Ã¢â¬Å"Self Concept.Ã¢â¬ Simply Psychology, 2008. https://www.simplypsychology.org/self-concept.htmlRogers, Carl R. Ã¢â¬Å"A Theory of Therapy, Personality, and Interpersonal Relationships as Developed in The Client-Centered Framework.Ã¢â¬ Psychology: A Story of a Science, Vol. 3, edited by Sigmund Koch, McGraw-Hill, 1959, pp. 184-256.
Wednesday, May 6, 2020
Lysistrata was a political satire written by Aristophanes in early 400 B.C.E., and was performed in Athens. The connection between Lysistrata and the society and culture surrounding it is deeply significant. Due to the immense cultural pressure in this period, itÃ¢â¬â¢s difficult to pinpoint a singular theme that Aristophanes was trying to make a comment on. With the Peloponnesian War continuing to lead a seemingly endless reign of chaos over Greece and its citizens, these elements of fear and despair became very relevant in the plays of the time, most notably being AristophanesÃ¢â¬â¢ Lysistrata. Within such satires, it became commonplace to see women being used as satirical devices to call attention to the craziness that had consumed society. It also contributed to the idea of women having a social or political power and, more importantly, having worth and a voice. Although it is impossible to know exactly which social aspects Aristophanes was trying to comment on, through histo rical documents and contexts, it is clear that statements were made condemning war through the satirical use of subverting gender norms to reinforce the foolishness in society and fighting. The fighting and devastation that influenced Aristophanes was the result of the Peloponnesian War. The war had been reigning terror and sorrow from about 431 to 404 B.C.E. across the Greek nation (Ã¢â¬Å"The Peloponnesian WarÃ¢â¬ ). It was fought between Sparta and Athens, however, each of these cities served as the head of
Tuesday, May 5, 2020
Tamim ENC 1101 Ebbinghouse M/W 11am-12:15pm Compare Essay 02/27/2012 A Journey Towards Discovery Throughout history human beings have had an insatiable desire to venture into uncharted territories and discover the unknown. There are countless examples of historic and modern figures and their quest toward knowledge of the unseen. Christopher Columbus and Neil Armstrong were two of the greatest figures in history that paved the way toward discovering new territories that had not been so vastly known by men before. They were both scientific explorers and supporters of knowledge and discovery. Their contributions in the fields of scientific discovery is widely known and considered to be a mile stone for new generations. They were both explorers, travelled great distances and were the first of their generation to discover a new place that was not well known to man. Although they were from different time and their journeys involved different means of travel and their quests were the same, discovering new places. Neil Armstrong, as a young man was interested in planes and later on became a pilot for the Air force. He traveled to many places around the world, as Columbus did in his early life. Armstrong was backed and funded by NASA, where they trained him extensively for what was to come in space. Columbus was also funded by the government, but was not trained, he used his skills he learned throughout his life. Columbus had the goal of a better trade route to Asia for better business which meant more profits and more money. Armstrong and his crew had the goal of national prestige for America. Armstrong had two trips to space, not knowing what it would be like or what he would find, but Columbus had four journeys across the Atlantic. The Nina, Pinta, and Santa Maria were the ships used for Columbuss voyage across the Atlantic. Columbus himself sailed on the Santa Maria which was the largest of the three. The Nina and Pinta were smaler but much faster than the Santa Maria. They carried about one hundred and twenty men, loaded with equipment and supllies, and armed for batle. Columbus wanted to find a new passage to Asia from Spain, but ended up on and island they named San Salvador, in the Bahamas. Apollo 11 was the space flight that Neil ArmstrongÃ comanded that would land the first humans on the moon. They carried equipment and supplies to help them with thier journey, but unlike Columbuss ships, Apollo 11 was not armed for battle, and only carried three men, instead of onehundred and twenty men. The Spaceship was fueld by rocket boosters, where Columbuss ships used wind in the ships sales to move the ship. Neil Armstrong, along with America was in a competition to beat the Soviet Union to space and be the first humans on the moon. He risked his life on a four day trip to be the first man on the moon, and bring pride to his country. He risked having his spacecraft malfunction, lossing communication with earth, and running out of fuel, resulting in a mission falure. But he had new technologies to help the mission go smother such as new compouter software, freeze dried food, and new spacesuits. Christopher Columbus was in a race against other European countries and Portugal to find a new traiding route to Asia that took a total of about thirty seven days to even see land. Columbus risked the lives of his crew and himslef on rough sea waters, and enemeys attacking his ships. He also took the risk of bringing back nothing to show for his voyage such as riches or an amazing discovery. To help with Columbuss journey, he had new ships that were made specificly for him that combined sqaure european sails with Arab triangle sails. He also had new intruments that would help with dtermining latitude at sea. But unlike Armstrong, Columbus had no map and was unaware of where he was going. Armstrong coud look up in the night sky and see where he was going. Both Armstong and Columbus had very long and dangerous journeys were they risked their lives to better their countries, and no one had ever attempted to do what they did. Columbus dreamed of a round earth but could never actualy see it, Armstrong got to see the round earth with an amazing view from the moon. During the time of Columbus, exploration was a very dangerous bussiness. Disease, war, and the unknowing of what to expect were factors that made exploring very dangerous. Crews had little to no education, paid poorly, and could take no credit for any discovories that were made. Armstong and his crew were heavily educated unlike columbuss crew, and were ready for a veryÃ dangerous mission as colombus was for his mission across the Atlantic. Although Armstrong was captain of Apollo 11, his crew had an equal part in the moon landing, they were a team, and all were honord with credit for the moon landing. Columbus took the credit for discovoring the new world, but his crew did all of the work to get him to the new world. Without Colombus accidentily discoving the new world, Niel Armstrong may not of been the first man on the moon. Both these men were risk takers, but also very influential explorers who risked thier lives to go into the unknown and seek fame. One was a captian and team player with a crew of three, and the other was captian of one hundred and twenty men who worked as a solo explorer. These explorations of Neil Armstrong and Christopher Columbus help change and shape the world we live in today.
Friday, April 10, 2020
Death Penalty Thirty eight states in the United States enforce the death penalty. Some people are in favor of the death penalty, but that may be because they have not been directly involved with it. Sometimes people can change their views about an issue when that issue all of a sudden becomes a part of their lives. Death is not something to be played with. Someone's life should not be put in the hands of another person or the government. These are the five ways people are murdered by the government: Lethal injection is the most common form of execution. This is when a prisoner is strapped to a gurney, while two needles are placed in each arm. Two different types of chemicals are released putting the inmate to sleep. A third chemical, a muscle relaxer, is released causing the prisoner to stop breathing within minutes. Approximately five states use the gas chamber as a method of execution. A prisoner is strapped down in a chamber where acid is released into a pan. Tablets are then dropped in the pan causing a chemical reaction that causes a deadly poisonous gas to knock the prisoner unconscious. Death occurs within minutes. Gas masked men decontaminate the body with bleach so as not to harm themselves while removing the body. Only a few states still use two of the oldest forms of execution today. Firing squads and hanging are still methods of executing criminals in the United States. Five or more men shoot a prisoner, sometimes killing him/her right away, when states kill by firing squads. When states use the hanging method, they try to set the noose just right so as not to allow suffocation, and to snap the neck and kill the inmate instantly. However, if done incorrectly, suffocation and suffering sometimes occur. Probably the most cruel and unusual method of execution is death by the electric chair. When a prisoner is strapped into this chair, his/her organs are burned. The inmate's flesh may catch on fire, and he/she may vomit blood. He/she may also violently twitch or leap forward as his/her insides are being electrocuted. One may be able to handle the fact that a criminal is being put to death. They might think that a criminal has done wrong, so they deserve to die. What they might not be thinking about is that criminal may be someone's son or daughter, mom or dad, niece or nephew, brother or sister, husband or wife. A human life is very precious. People need to learn from their mistakes and a corpse cannot learn anything. The government should not take someone's life that has done wrong, but rather teach them the right way, and help them learn from their mistakes. The eight amendment protects Americans from cruel and unusual punishment. Death is very cruel and could be perceived as unusual, depending on the individual. Cruel and unusual are such vague adjectives, that they can be defined in several ways. What one person believes to be cruel, another person may believe is fair. This country is so diverse, with many different types of cultures and up-bringings, that deciding on one meaning for these two terms fairly for all people of the United States is nearly impossible. Therefore, the eighth amendment should be reworded, or the death penalty should be illegal. Ingesting poisonous gas, being burned from the inside out, suffocating from a noose, receiving poisonous chemicals through the veins, and being shot could all be defined as cruel and unusual. This cruelty's purpose is to teach a lesson. When judges and juries try to correct crime by putting a prisoner to death, the only lesson they are teaching to American citizens is hypocrisy. If murder was the crime, they are saying killing another human being is wrong, but it is right if judges and juries do it. In the book, Capital Revenge, Roy Meader thinks judges and juries are hypocrites, stating that when people sentence criminals to death they should look in the mirror. He wonders if they should ask themselves, "Should old commandments be revised to meet modern circumstances - Thou shalt not kill, except in some cases?" (Meader 3). People should not be allowed to kill people whether by law or otherwise. When criminals are sentenced to death, they are taken away the freedom to learn from their mistakes. Meader also looks at capital punishment as a way of revenge. He thinks that America does not help citizens, but avenges them for their crimes. When a criminal is put to
Monday, March 9, 2020
Foreign Direct Investment Foreign Direct Investment IntroductionPolitical PerspectivesÃ Theories of Foreign Direct Investment Impacts of FDI on Host Country EconomiesImportance of FDI Foreign Direct Investment in Emerging Economies Examples of Foreign Direct Investment ConclusionReferencesRelated Introduction Foreign direct investment (FDI) occurs when a foreign investor exerts direct control over domestic assets. It normally consists of an international capital flow from the home country to a host country for the purpose of acquiring partial or full ownership of tangible business activity. Technically, it is the book value of the equity held by the foreign investor that is attached to the asset. In most cases, the asset is a firm in a developed country, such as the United States, and the equity consists of two components: ordinary (common stock) and retained earnings. If both foreign and domestic investors own the common stock, then only a portion held by foreign investors is considered to be FDI, and if only a threshold percentage is attained, that is deemed to give the foreign investor control of the business. In the United States, this threshold is 10%, but some countries establish a higher minimum level of stock ownership, usually 25% (Aliber 2003, pp. 91). Foreign investment can take place in two ways: Foreign investors can establish new firms overseas, which they control, or foreign investors can acquire controlling interests in the previously established domestic firms, or spin-offs of such firms. FDI as a vehicle of transnationalization is a major contributor of economic development. Transnational corporations (TNCs) act as significant transmitters of economic, social, cultural, and political change into different countries, sectors, and motivations. TNCs take advantage of geographical differences in the distribution of factors of production (natural resources, capital, labor, etc.) and local policies (taxes, trade incentives, subsidies, etc.). Other than FDI, TNCs engage in various kinds of collaborative ventures by which they coordinate and control transactions within geographically dispersed production networks (Borensztein et al. 2008, pp. 115). Resulting from these ventures, the global economy is envisaged as linking together t wo sets of networks: (1) Organizational (in the form of production circuits and networks) and (2) Geographical (which include localized clusters of economic activity). Political Perspectives Since FDI requires the flow of capital across national borders, it has always been intertwined with politics. Viewed in this way, three different political perspectives to FDI can be identified: radical view, free market view, and pragmatic nationalism. The radical view, which can be traced back to Marxism, treats FDI as a vehicle for exploitation of domestic resources, industries and people. Those governments who hold a radical view are hostile to FDI and therefore are in favor of nationalizing foreign firm assets or putting into place mechanisms to discourage inbound foreign firms operations (Braconier et al. 2005, pp 313). The free market view, on the other hand, is more in favor of FDI and promotes its rationale not least because it enables countries to tap into their absolute or comparative advantages by specializing in the production of certain goods and services. According to the free market view, FDI can be regarded as a win-win situation for both home and host countries. Whi le prior to and during the 1980s the radical-based view FDI was more common in Africa, Asia, Eastern Europe, and Latin America, the free market-based FDI is now more influential across the world and in particular in emerging economies such as Brazil, India, and China (Braunerhjelm 2005, pp. 119). Finally, the third view, which reflects the current dominant perspective toward FDI and is practiced by most countries around the world, is called pragmatic nationalism. Based on a pragmatic nationalism political view, FDI is only approved when its benefits outweigh its costs. For example, this view holds that FDI in the Chinese auto industry should only take the form of a joint venture (JV). By adopting such restrictive policies, the Chinese government helps the domestic auto industry learn from their foreign counterparts (Buckley and Hashai 2004, pp. 61). Ã Theories of Foreign Direct Investment There are several theories that attempt to account for foreign aid. The prevailing ones include Dunnings eclectic approach and the product cycle. John Dunnings eclectic paradigm emphasizes the critical role of geographical location in understanding the complex nature of TNC behavior. The location aspect, as encapsulated in this theory, suggests three primary motivations: (1) foreign-market-seeking FDI, (2) Efficiency (cost reduction)-seeking FDI, and (3) resource-seeking or strategic-asset-seeking FDI. In general, a firms motivations to be transnational can be classified into two categories: (1) Market orientation, which pertains to marketing, sales, or production designed to serve a specific geographical market, and (2) Asset orientation, when most of the assets required by a firm to produce and sell specific goods and services have an uneven geographic distribution, especially in the natural resources industry. For a TNC to invest successfully abroad, it must possess advantages that no other firm has, the country it wishes to invest in should offer location advantages, and it must be capable of internalizing operations. Internalization tends to become synonymous with the ability of firms to exercise control over operations essential for the exploitation of ownership and location advantages (Yeung 2007, pp. 1). Raymond Vernon introduced the Ã¢â¬Å"locationalÃ¢â¬ aspect to the product life cycle concept, which in the original form had no spatial connotation. First advanced in the mid 1960s, it emanated from the premise that the United States possessed comparative advantage in product innovation. To maximize production flexibility and minimize uncertainties in the early stages of a products life cycle, firms develop innovations for and introduce them to large high-income domestic markets but eventually set up foreign production facilities in other advanced economies to defend their monopolistic advantages resulting from an innovational lead. This also happens because, as products become more standardized, they get more price sensitive and firms turn to low-cost less developed countries (LDCs) to maximize profits. Vernon describes the phases as revolving around product development, product growth, product maturation, and product standardization. Impacts of FDI on Host Country Economies However, not all FDI is always in the best interest of the host country. Some nations have been increasingly viewing TNCs as a threat to economic autonomy. At times, they tend to be responsible for exerting negative influences on the host economy, for example, crowding out domestic firms and suppressing domestic enterprises. Profit maximization is inherently linked with maximization of efficiency and not necessarily with national, economic, and social goals. From the perspective of TNCs, various decisions have to be taken that can affect their effective working in the country- mainly since they operate in different economic, political, social, and cultural environments (Trevino and Upadhyaya 2003, pp. 45). A lot is said as to why firms choose to transnationalize rather than simply export their products. Two of the reasons commonly cited are that (1) Competition is extremely global and volatile and (2) It creates an environment wherein advantages are rapidly created and eroded. Firms increasingly compete not with rivals on a national level but across the globe. Higher sales and profits result from foreign subsidiaries because domestic markets, where the company started, tend to get saturated over time and it is fruitful to conquer foreign markets with more potential consumers than in the home country. The information technology revolution, which began in the United States in the 1980s, was an important source of structural change in the international economic and business environment affecting FDI. There was a sudden upsurge in asset-seeking direct investment in the United States. Foreign companies, chiefly European, were responsible for a gamut of mergers and acquisitions with U.S. companies- primarily with those possessing advanced technology or marketing prowess. The size and growth of the U.S. and Chinese markets have made these countries primary destinations for foreign companies using FDI as a stimulus for profits (Graham Marchick 2006, pp. 277). Importance of FDI FDI has been known to provide a longer-term contribution to GDP and income growth, as against bank loans and portfolio investments. The long-term perspective of FDI makes it relatively less volatile. FDI is considered to be an important carrier facilitating the spread of technology and is said to contribute to growth in a much wider way than domestic investment. The contribution of FDI is enhanced due to the interactions with human capital in the host country (Dunning Gugler 2008, pp. 113). Furthermore, FDI is said to expand the level of know-how in the host country through training and skill acquisition. Summarily, the four basic reasons why companies establish subsidiaries in foreign countries are (1) Gaining access to natural resources, (2) Protecting or expanding sales in lucrative markets, (3) Seeking low-cost production, and (4) Acquiring strategic assets. The United Nations, the European Union, and Japan have been the main sources and recipients of FDI for the past several decades. From 1998 to 2000, these three units together accounted for 75% of global FDI inflows. In totality, a countrys climate for FDI is built by factors such as relatively accommodative government policies- covering trade barriers and regulation of capital inflows; quality of governance; political stability; presence of laws and regulations; macroeconomic, fiscal, monetary, and industrial policies; and quality of infrastructure. Foreign Direct Investment in Emerging Economies The United States continues to be the largest FDI host country, with about US$2791.3 billion in 2007. The outward investment position increased to US$336.6 billion. Among the outward investments, about US$16.1 billion (3.1%) went to Ireland and US$4.2 billion (3%) to Singapore. Chart 1.1 ChinaÃ¢â¬â¢s total foreign investments inflows According to U.S.-China Business Council, among emerging economies, Chinas role as an investor country has been highlighted in the past few years. By 2004, China was the eighth most favored FDI source among developing countries. The liberalization of Chinese FDI policy in 1992 led to increased Chinese outward direct investment (ODI). The growth in Chinese ODI policy developments was driven by cautious internalization, government encouragement, expansion and regulation, implementation of a Ã¢â¬Å"go globalÃ¢â¬ policy, and heightened domestic competitive pressures, which led to the opening up of protected industries and markets to foreign and domestic competitors (2008, pp. 81). A comparative advantage as a manufacturing hub and a firm-specific advantage such as state-ownership of a large part of an industry further stimulate this growth. Chinese ODI has been positively associated with Chinese exports to the host country (the former promoting the latter), a moderate demand of inflation, and rising levels of political risk in the host country. A distinctive feature that remains with China as against other emerging economies is that many of its multinational enterprises remain in state hands, although corporatized to focus on commercial objectives. Table 1.2 Top 10 FDI inflows. Chinas overall FDI inflows stood at US$82.7 billion, an increase from US$69.47 billion. The top 10 FDI inflows were mainly from Hong Kong, the British islands, South Korea, Japan, Singapore, and the United States, amounting to about US$3 billion in 2006 and about US$2.62 billion in 2007. According to the Ministry of Commerce (MOFCOM) of the Peoples Republic of China, the outbound nonfinancial FDI for the first half of 2007 reached US$7.8 billion, while for the full year in 2006; it was US$21.2 billion. Of this, 86% was provided by central government sources. Most of Chinas ODI flowed to 172 destinations, which included Latin America and Asia. In India, the overall record of macroeconomic stability, a sizable domestic market, and a relatively high degree of political stability has attracted large volumes of FDI. The foreign investment in India during 2007Ã¢â¬â2008 was driven by FDI and portfolio investment inflows. FDI inflows in India increased from US$9.17 billion in 2005Ã¢â¬â2006 to US$22.95 billion in 2006Ã¢â¬â2007 and US$34.92 billion in 2007Ã¢â¬â2008. India emerged as the second most favored FDI destination after China in 2005 and 2006. During these years, investments through Mauritius remained the largest component, followed by Singapore, the United Kingdom, and the Netherlands. Inflows from the United States stood at the sixth position at US$3.46 billion in 2005Ã¢â¬â2006, US$7.06 billion in 2006Ã¢â¬â2007, and US$4.86 billion in 2007Ã¢â¬â2008. Sectorwise, these inflows were mainly directed to financial services, construction, and manufacturing. On the other hand, ODIs from India increased from US$13.5 billion during 2006Ã¢â¬â2007 to US$17.9 billion during 2007Ã¢â¬â2008 and flowed mainly into the manufacturing sector (Dicken 2007, pp. 191). Within the European Union, Ireland is fast emerging as the most FDI-intensive economy in Europe and a global competitor to RD investment. Since the 1990s, Irelands economic development policies, which have encouraged Greenfield investments by foreign companies in manufacturing and service sectors so as to produce output for export markets, and the establishment of upstream linkages between foreign and indigenous companies and the creation of industrial clusters with them have stimulated an export-led growth of the manufacturing sector. In Singapore, another emerging FDI destination, the total ODI was recorded at US$406.7 billion in 2005 and US$484.1 billion in 2006. Financial services and manufacturing have been major draws for Singapore companies venturing abroad. In 2005 and 2006, Singapore invested about US$9.8 billion and US$8.5 billion in the U.S. market. The FDI inflow in Singapore was at US$323.8 billion and US$363.9 billion, the FDI inflow from the United States alone constit uting about 10% of this inflow. The current scale, proliferation, and importance of collaborative ventures between firms across boundaries have brought out the significance of transnational strategic alliances between firms (especially competing firms). Strategic alliances are formal agreements between firms to pursue specific strategic objectives in order to enable them to achieve specific goals. It involves sharing of risks and rewards. For RD ventures, for example, cooperation is limited to research into new products and technologies, while manufacturing and marketing remain the responsibility of individual firms (Cohen 2007, pp. 171). Globalization, technological advances, and the emergence of new players have propelled a change in FDI movement. Globalization, by removing most of the natural and artificial barriers to cross-border information flows and transactions, has widened locational choice options for firms. By lowering transport, communication, and distribution costs, technological advances have helped overcome many obstacles to overcome space. Examples of Foreign Direct Investment Venture capital, seed capital, and other types of direct investment play an important role in the development of nanotechnology by providing the funding for entrepreneurs to develop commercial products based on the nanotechnology, and establish themselves as for-profit businesses. As of June 2009 the Website www.nanotech-now.com listed over 100 funding sources for nanotechnology businesses. An example of a seed capital firm is MMEI (Molecular Manufacturing Enterprises Incorporated), a privately held corporation that provides funding at the early stages of product development in molecular nanotechnology: for example, in developing a laboratory-bench model into a working prototype that could be used to attract venture capital. A different type of service is provided by Silicon Valley Nano Ventures: they help make connections between investors and businesses and charge fees for successful transactions that may include a percentage of the transaction and/or stock or options in the compan y. Foreign direct investment (FDI) is increasingly important in the global economy, but the term denotes more than simply a direct investment made by a foreign investor. Specifically, FDI refers to a case of a company in one country establishing an enterprise in another country- such as Coca-Cola opening a plant in Mexico, Volkswagen opening a factory in Detroit, Intel opening a chip fabrication plant in Taiwan, and so on. Foreign direct investment is a vital part of the economic relationships between countries, and in particular can be a key to attract for developing or industrializing countries. Though the largest amounts of capital are involved in direct foreign investment among the industrialized countries (or Ã¢â¬Å"Global NorthÃ¢â¬ ), direct foreign investment from industrialized countries to developing countries (or Ã¢â¬Å"Global SouthÃ¢â¬ ) is a matter of constant discussion among international bodies like the World Trade Organization, and is seen as (at least potentially) a beneficial arrangement for both sides (Aliber 2003, pp. 94). Typically, the subsidiary established by a foreign direct investor is a factory or other manifestation of the foreign companys global presence, but it can include real estate holdings (and often does, in the case of businesses in the hotel and hospitality industry) and businesses unrelated to the foreign companys ordinary business. Foreign ownership may not always be apparent to the public. In the United States, the public is generally not aware that national supermarket chains and major breweries are owned by foreign-based multinational corporations. Because foreign direct investment involves money coming into a nations economy from outside, there are often incentives offered by the local government to encourage it, particularly when the FDI does not pose a competitive threat to domestic industry. There may be tax incentives, special regulatory exceptions, or subsidies provided for job training in order to create domestic jobs and disincentives the importation of foreign employees or infrastructure subsidies (Cohen 2007, pp. 176). Singapore provides a good example of a government successfully attracting FDI to develop commercial nanotechnology. Singapore is a small and densely populated Asian nation with a strong central government and a high standard of living, but has not historically been known as a center of scientific innovation. In order to overcome this handicap and create a biotechnology industry able to compete with the United States and Europe, the Singapore government has been involved in establishing biomedical science centers since the 1980s, including the Institute of Bioengineering and Nanotechnology, whose current research projects include developing nanocomposite materials for solar cell applications and nanofoams to be used in human bone replacement and repair. Singapore has been successful in attracting foreign investment in these centers, in part through the provision of financial incentives, a strong infrastructure, regulatory policies that favor business and the availability of a well-edu cated workforce. Among the companies who have invested in the biomedical industry in Singapore are GlaxoSmith-Kline, Schering-Plough, Merck, Genencor, AstraZeneca, and Bristol Myers Squibb. Conclusion Foreign direct investments is a long-term capital flow or investment in which a non-resident entity has significant management control of voting stock (10% or more) over an enterprise in a foreign or host country. Unlike short-term capital flows, foreign direct investment (FDI) is not immediately susceptible to reversibility. The bulk of FDI activities in developing countries are undertaken by multinational or transnational corporations. A transnational corporation is a firm that is head quartered in a home country but controls assets of enterprises that are central to its profitability in foreign or host countries. References Aliber, R. (2003), the multinational paradigm. Cambridge: MIT Press, pp. 91-98 Borensztein, E., De Gregorio, J. , and Lee, J.-W. (2008), How does foreign direct investment affect economic growth? Journal of International Economics vol. 45 pp. 115Ã¢â¬â135 Braconier, H., Norback, P., and Urban D. (2005), Ã¢â¬Å"Multinational Enterprises and Wage Costs: Vertical FDI Revisited,Ã¢â¬ Journal of International Economics v.67/2 , pp 313 Braunerhjelm, P., Oxelheim L., and Thulin P., (2005), Ã¢â¬Å"The Relationship between Domestic and Outward Foreign Direct Investment,Ã¢â¬ International Business Review v.14, pp. 119-131 Cohen, S. (2007). Multinational corporations and foreign direct investment: Avoiding simplicity, embracing complexity. New York: Oxford University Press, pp. 171-77 Dicken, P. (2007). Global shift: Mapping the changing contours of the world economy. New York: Guilford Press, pp. 191-204 Dunning, J., Gugler, P. (2008), Foreign direct investment, location and competitiveness, Amsterdam: Elsevier, pp. 113-119 Graham, E. , Marchick, D. (2006). US national security and foreign direct investment, Washington, DC: Institute for International Economics, 277 P. Buckley and N. Hashai (2004), Ã¢â¬Å"A Global System View of Firm Boundaries,Ã¢â¬ Journal of International Business Studies v.35, pp. 61-69 Trevino, L. and Upadhyaya, K. (2003), Foreign aid, FDI and economic growth: Evidence from Asian countries. Transnational Corporations vol. 12 pp. 45Ã¢â¬â72 U.S.-China Business Council, (2008), foreign investment in China, Washington, DC: Author, pp. 81 Yeung, H. (2007), from followers to market leaders: Asian electronic firms in the global economy, Asia Pacific Viewpoint vol. 48 pp. 1Ã¢â¬â25.
Saturday, February 22, 2020
The CEO Management - Research Paper Example Only a few decades ago, the people at the top of companies were called Managing Directors, now they have morphed into C.E.Os, and are expected to perform on a global stage. There is relentless scrutiny on what they do from shareholders, media and government (Tarpin 2006, p56). The change in the environment in which CEOs have to perform has necessitated a re-think of the whole experience of management and all the tenets that go into the successful running of a corporation. Among these are the decision-making process, managing information technology and picking up good examples from others and integrating them within the organization. In an age with so many pressures, is it realistic to have one person to be the face of a company or the one making all the decisions? There is no clear answer to this question. Different approaches have to be applied. In recent times, organizations have become Ã¢â¬Ëtoo big to failÃ¢â¬â¢ it is unrealistic that all the important decisions must be made b y a single individual. It should be the case that an organization has several other people in its middle and upper ranks who are as knowledgeable as the leader of the organization so as to spread the burden of decision making. One of the renowned investors of worldwide, Warren Buffett once said that Ã¢â¬Ëevery quarter a CEO is expected to land a 747 on a runway and have it come naturally to a stop six inches from a dimeÃ¢â¬â¢. That is enough to demonstrate the high expectations CEOs are expected to fulfill. On the other hand, the case for iconic organizations being led by iconic individuals cannot be disputed. Steve Jobs is a good example. He alone is credited with making Apple the largest consumer electronic goods manufacturer. Ken Hopper in his book The Puritan Gift states that decisions are best made collectively. He refers to the collectivization of decision making as forming a kind of Ã¢â¬ËfellowshipÃ¢â¬â¢. The leader makes the ultimate call, but they have to come down and seek the opinion of members of the Ã¢â¬ËfellowshipÃ¢â¬â¢ before arriving at the final solution. (Hopper 2005, p64) As a result, organizations need no more be pyramidic structures but more of networks. The leader at the top of an organization does not have to be accountable for all the good and all the bad of the organization. Leaders should use the collective wisdom of the company, and even be ready to admit they do not know what a situation demands. They should collectively think and collectively approach an issue (Schermerhorn 2004, p40). This is a concept that traditional management could run a mile from, but as recent failure has shown us, new and radical approaches to management need to be explored. The decision-making process is not the only aspect of management that a leader of an organization engages. In todayÃ¢â¬â¢s computer age, there is a torrent of information, all of which is demanding the organizationÃ¢â¬â¢s leader attention. Vast organizations are being bu ilt on information to the extent that a few individuals view it as a currency or as a building block for a new economy. So, is too much information a promise or a threat? Well, that is part of what the leader of the organization has to determine. The catchphrase Ã¢â¬Ëinformation technologyÃ¢â¬â¢ has really caught on, but itÃ¢â¬â¢s a fairly recent phenomenon.