The Classroom Management Is Defined As A Person...

Management Management can be defined as a person controlling and directing the affairs of certain circumstances. As teachers we hear the term â€Å"management†; we immediate think of our classrooms. In Child Development McDevitt mentions, â€Å"Classroom Management refers to the skills and strategies that teachers use to organize instruction and maximize the productive use of their instructional time’ (McDevitt, 2008, 408). Educational Psychology Moreno states, â€Å"In a well-managed classroom, students’ behaviors rarely interfere with achievement of instructional objects† (Moreno, 2011, 408). Classroom management helps to enhance a well-organized classroom with effective classroom planning, effective lessons plans and preparation; which then enhances the productivity in the classroom. With establishing classroom procedures that are clear, students are able to understand the expectations/goal of each class, whether the procedures are for behavior or learning objec tives students can stay consistent throughout the day or within a different class setting. Moreno argues the effectiveness of classroom strategies. i.e., , â€Å"the routines for accomplishing recurring classroom tasks such as how students will turn in homework, go to the restroom, or transition from one activity to another† (Moreno, 2011,417). In overseeing my classroom observation in an integrated English classroom, my classroom mentor Ms. Lee always enforces clear and direct classroom procedures. Before the children enter theShow MoreRelatedLesson Plan10685 Words   |  43 PagesEpisode 4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Getting to Know the Classroom Routines Practice Teaching Learning Episode 5†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. The Journey Begins with the First Step Practice Teaching Learning Episode 6†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Writing My â€Å"First† Lesson Plan in My Second Home Practice Teaching Learning Episode 7†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Preparing my IMs Practice Teaching Learning Episode 8†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. My First Assessment Tool Practice Teaching Learning Episode 9†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Designing the Classroom Bulletin Boards Practice Teaching LearningRead MoreLibrary Management204752 Words   |  820 PagesCenter Management Recent Titles in Library and Information Science Text Series Library and Information Center Management, Sixth Edition Robert D. Stueart and Barbara B. Moran United States Government Information: Policies and Sources Peter Hernon, Harold C. Relyea, Robert E. Dugan, and Joan F. 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The Gate Keeper Interview Essay - 1357 Words

The Gate-Keeper Interview Essay Introduction The perceived ‘cantankerous’ relationship that characterises the exchanges between public relations professionals and media practitioner’s has been rife since the birth of public relations. The pair is, in its simplest term ‘frenemies’, they do work together, albeit covertly, and are usually hesitant to admit (on the media side) their cooperation. However, there is no absolute trust held between the two since there is a shifting power of control and influence that continually changes, which Fletcher (as cited in Hobsbawn, 2010, p. 64) believes is due to the market value of the particular product that public relations is representing. Media practitioners are often called the ‘watchdogs’ of†¦show more content†¦For this essay, the interviewee was journalist Mike Munro AM, well known for his time on 60 Minutes, A Current Affair, Sunday Night, 10 Eye-witness news and his print newspaper time working at The Australian, The Daily Mirro r and under Rupert Murdoch as a reporter for The New York Post. He has been in the journalism industry for over 40 years and has bared witness to the fast-paced changing environment that has changed the news cycle and the interaction between public relations practitioners and the media. As mentioned earlier, the symbiotic relationship between the two is highly contentious, however, what is known is that they do work together and, although unwilling to admit it particularly on the media side, is that they need each other more than ever in this ever-changing, technology driven world. The ‘symbiotic relationship’ the perspective from the ‘gatekeeper’ Journalists are quick to deny the thought of a ‘symbiotic relationship’ with public relations practitioners. However, with copious amounts of research conducted, regarding the relationships between the two it would seem, ironically, that the journalists are not being all that truthful. A study conducted by the Australian Centre for Independent Journalism (ACIJ) and Crikey (2009) discovered that across 10 newspapers in Sydney that â€Å"...nearly 55% of stories examined were driven by some form of public relations†

A Brief Note On Advocacy And Social Justice - 1599 Words

Advocacy and Social Justice Unfortunately the United States has a complex history with topics such as religion, race, language, and many more. In recent years, some regulations have paved the way for equal opportunity for all students regardless of the factors listed above. Reviewing past policies and changes will help us understand the importance of advocating for the oppression of those systems and helping promote social justice for our society. Religion’s role in education stemmed from two controversial issues, the promotion of religious instruction in public schools and the use of public tax money to aid nonpublic schools. Religious freedom was an apparent issue in the late 1700s. With the enactment of the First Amendment stating†¦show more content†¦The issue in the Gobitis case in 1938 was the right of a student to be protected from rules that violate his or her religious freedom. This issue arose because a family objected to the requirement of reciting the Pled ge of Allegiance as Jehovah s Witness. This family advocated for their child to have a right to religious freedom in schools and it paved the way for all religions to also uphold their rights. This later became a reason for the reversal of position in the 1943 case of West Virginia v. Barnett were religious freedom became a valid reason for children to be excused from school activities. This family advocated for their child to have a right to religious freedom in schools and it paved the way for all religions to also uphold their rights. In 1947, 2 million public schools were released to attend religious classes during some part of the week. In the McCollum v. Board of Education of Champaign, Illinois case, in 1948, the Supreme Court ruled that releasing students to attend religious classes in public school buildings was illegal (Pulliam, J. Van Patten, J., 1999). A case in New York later found that releasing students to take these classes outside of public schools did not violate the separation of church and state. Educational practices have been changed due to lawsuits and regulations that have come from them. The issue of participating in religious activities held by the school was found to

Era of Prohibition in THe Great Gatsby by F. Scott Fitzgerald

A Time of Grieving With its increase in organized crime, notorious icons, and unhealthy lifestyle, the Era of Prohibition represented the Roaring Twenties which F. Scott Fitzgerald vividly portrayed in The Great Gatsby. Alcoholic beverages were illegal in the Roaring Twenties, which caused many Americans to develop hidden bars or speakeasies to drink their alcoholic beverages. The number of speakeasies increased tremendously when the Prohibition Act was established. The high number of speakeasies caused organized activity to increase during the Roaring Twenties. â€Å"Speakeasies for illicit drinking sprang up, and organized crime activity increased†¦Ã¢â‚¬  (Hutchinson Encyclopedia). Americans during the Roaring Twenties knew that alcohol was†¦show more content†¦They became rich and powerful by providing speakeasies and others who were willing to buy their alcohol. Some bootleggers got their alcohol from other countries. â€Å"The first large-scale organized criminal activity of the Prohibition Era was smuggling†¦The manufacture, importation, and sale of alcoholic beverages were perfectly legal in Canada, Mexico, and the Caribbean,† (Cohen). During the Roaring Twenties , someone who bought alcohol from other countries had to smuggle the alcoholic beverages inside the country. â€Å"As soon as Prohibition went into effect there was a dramatic increase in Mexican imports of scotch whiskey from Britain. The Mexicans werent drinking more; eventually all of this whiskey made its way north across the border† (Cohen). 0Bootleggers were powerful and rich and became one of the biggest reasons for the increase of organized crime in the Era of Prohibition.  ¬Ã‚ ¬Ã‚ ¬During the Roaring Twenties, there were many lawbreakers who increased the rate of organized crime. Unlike bootleggers, these lawbreakers stole alcoholic beverages from locked up warehouses, to resell to their customers. â€Å"Hijacking was another way of getting the liquor. Early in the Prohibition Era there was still a lot of liquor locked away in government warehouses to be sold for medicinal purposes. Much of this was simply stolen by the criminals, particularly while it was being transported† (Cohen). The lawbreakers during the Roaring TwentiesShow MoreRelatedThe Great Gatsby Summary1036 Words   |  5 PagesSummer Project 2012- â€Å"The Great Gatsby†: FULL SUMMARY OF â€Å"THE GREAT GATSBY†: During the 1920’s era, within the various movements of prohibition, women’s rights, and the Jazz Age, F Scott Fitzgerald bore a timeless novel by the name of â€Å"The Great Gatsby.† The predominant character, Nick, who duals as narrator, is indecisive but thoughtful. He lives in West Egg on Long Island Sound, amidst the aristocratic air and luxurious titles. Gatsby, Nick’s neighbor, whose affairs apart from his partsRead MoreLiterary Research Paper: The Great Gatsby by F. Scott Fitzgerald The Great Gatsby, by F. Scott1100 Words   |  5 PagesLiterary Research Paper: The Great Gatsby by F. Scott Fitzgerald The Great Gatsby, by F. Scott Fitzgerald is known as America’s great novel, â€Å"The Great Gatsby is a classic piece of American fiction. It is a novel of triumph and tragedy, noted for the remarkable way Fitzgerald captured a cross-section of American society.†(Cliffsnotes Editor) The novel is set in New York City, more specifically in long island; East Egg and West Egg, during the prohibition era in the 1920’s and was then publishedRead MoreF. Scott Fitzgerald s The Great Gatsby1378 Words   |  6 PagesF. Scott Fitzgerald was an American author during the jazz age. He is widely regarded as one of the greatest American writers of the 20th century. 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Scott Fitzgerald s The Great Gatsby1003 Words   |  5 Pagesnewfound sexual expression. In this age, there was a boom in literary expression as well. F. Scott Fitzgerald was one of the many twentieth-century writers to focus on American ideals in their novels. In Fitzgerald’s masterpiece, The Great Gatsby, the character of Jay Gatsby represents the opulence and underlying corruption of the 1920s. As the novel begins, Fitzgerald describes Gatsby’s outrageous wealth. Gatsby harbors an obsession for money, which is a reflection of the booming economy in the TwentiesRead MoreTaking a Look at the Jazz Age1600 Words   |  6 Pageserupted in new musical and cultural changes. These changes can be seen through the shift in literature, from conservative to contemporary writings, by literary giants like F. Scott Fitzgerald and Bessie Smith. The Jazz Age was known as the Roaring Twenties, and is still popular today due to its infamous jazz music, flappers, and prohibition. 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Challenges Struggle and Arnold Spirit Jr Free Essays

Challenges Challenges, struggles are always a part of human life. Challenges are to test of one’s abilities. Struggle what makes people stronger physically and emotionally it’s a difficulty, conflicts that people face to be success. We will write a custom essay sample on Challenges: Struggle and Arnold Spirit Jr or any similar topic only for you Order Now It is not easy to accept challenges and struggle and achieve what you have been challenged for. In a novel called The Absolutely True Diary of a Part-Time Indian by Sherman Alexie the main character name Arnold Spirit Jr. was born in a poor Indian family and lived in a Indian reservation. Junior is a boy who wanted to do something different, different then people in his rez have ever done. His life always brings new challenges and struggled a lot. Life always brings challenges and struggles but the most important thing is how you accept challenges and struggle in order to succeed. Arnold spirit Jr. Life is began with a challenge He was born with cerebral spinal fluid and forty two teeth. Doctors said he is not going to survive or just a living object â€Å"even if I somehow survived the mini Hoover. I was supposed to suffer serious brain damage during the procedure and live the rest of his live as a vegetable† (page # 2). Due to his brain damage he had eyesight problem. But he survived he was fine a lived his live normally. He was born in a poor Indian family were they live in Indian reservation. They sometimes have to sleep empty stomach, â€Å"My family misses a meal, and sleep is the only thing we have for dinner† (page #8). One of his best friend name Oscar his pet. He lost him because he and his family didn’t have money to cure him. In spite of being poor and losing his pet Oscar he understood that his family is poor. He controlled his anger he had towards his family and him being poor. He learned and understood that it wasn’t his or his parent’s fault that they are poor. His anger level increased and he got out of control when he saw her mother’s name on his book. He had to study so old book. His teacher realizes and tells him that he is strong and he has hope in his life that he can fulfill it. He doesn’t want to live his life like others. He then decided that his life is not going to be like others in rez he then decided to study in other school to fulfill his dream and goal. One of the most important challenge in his life was when he decided to think beyond what he have thought before, No one in his family or in his rez have ever thought of doing he decided to leave his rez school and join another school where white people studies in Readan. He had to face many problems and strugg led a lot in order to go and study and be what he wants to be in life. His best and his only friend in rez Rowdy was no longer his friend. He was alone as he was the only Indian in that school. He was being bullied being called by different names in his new school as he was Indian. In spite of all his problem struggled he accepted it as a challenge. He fought with roger a student who bullied him all the time he punched him. Students started knowing him he was no longer being bullied or an unknown in school. He gained confident on himself. He started making friends. Even Roger became his friend. As he was physically weak than others he still joined basketball team were students in his team were big and tuff. It was hard for him to join the team but he did it he proved himself that he can do it. He worked hard one his selection were he had to face roger one on one in order to be selected he lost several time but he didn’t give up. His coach inspired him a lot it was him who made him strong, his advice, â€Å"The quality of a man’s life is in direct proportion to his commitment to excellence, regard less of his chosen field of endeavor† (page #148). He then started playing game so good that he became star of Readan. He lost his loves one people who he inspires and loves. He lost his grandmother his father’s friend Eugene and his sister. Their death made him upset and depressed his but he still managed to control himself and fulfill his biggest challenge. Life is not easy I believe struggle and challenges are parts of live. No matter who you are what you are life always brings challenges and struggles. Life always brings challenges and struggles but the most important thing is how you accept your challenges and struggle in order to succeed Arnold Sprit Jr. faced challenges and struggles from the day one of his life. In spite of all his problems in his life he managed and survived from all his struggle and challenges. I always knew that no matter what I have to face challenges in life as Arnold did. Many famous people in this world like Mahatma Gandhi, Martin Luther king and Christopher Columbus accepted challenges in life and succeeded. How to cite Challenges: Struggle and Arnold Spirit Jr, Essay examples

Corporate Finance of FXZ Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Corporate Finance of FXZ Capital Structure. Answer: Introduction In relation to the financial calculation done, we hereby elaborate WACC in details and discuss the effect of FXZ capital structure and recommended changes in it. FXZ is a un-geared company with its capital structure highly dependent on equity share capital. It is an attempt to find out the efficiencies and deficiencies in the capital structure of the company. The capital structure basically comprises of four elements- Equity, Preference, Debt and Retained earnings. There can be various combinations of above depending upon the needs of the company. It may be different from company to company suiting to their needs and requirements. Calculation of Weighted Average Cost of capital In the given Company, the Weighted Average Cost shall be calculated for Equity and Debt. There are no preference shares in the company portfolio. The retained earnings are in negative i.e there are retained losses. Hence, we shall take the total equity mentioned in the Balance Sheet for calculation of the cost of equity. WACC: W(Ke) + W(Kd) (1-T) where W= Weight Ke Cost of equity Kd Cost of debt T Corporate Tax Rate To find out WACC, first we need to find its component : figures in `000 $ Total equity: 10,34,092 Total debt: 1,79,312 Total Finance Cost: 18,257 here Rf= 2.12% Beta: 0.77 Rm: 12.8% Cost of Equity= 2.12% + 0.77 (12.8% - 2.12%) = 10.34% Cost of Debt = Interest payment/ Interest bearing liabilities (debt) figures in `000 $ Interest Payment = 11,100 Interest Bearing Liabilities = 1,79,312 Cost of Debt = 11,100/ 1,79,312 (1-0.30) = 4.33% Weighted Average Cost of Capital (Amount in '000 $) Year 2016 Amount Proportion Cost of Weighted (%) Capital Cost Total Equity Capital 10,34,092 85.22 10.34 1,06,925.11 Debt 1,79,312 14.78 4.33 7,764.21 Total 12,13,404 100.00 1,14,689.32 figures in `000 $ WACC = Weighted Cost / Total of Equity and Debt = 1,14,689.32/ 12,13,404*100= 9.45 % The cost of Equity = Risk-Free Rate of Return + Beta * (Market Rate of Return - Risk-Free Rate of Return). Judgment on the WACC of the company (FXJ) The company is well placed in terms of its capital portfolio as it is not dependent upon outside debts. The company comprises of 85.22% of total capital as equity which suggests that the company is not liable to pay fixed interest and hence it helps them to retain their profits for any other purposes like capital investment, asset purchase or payment of other liabilities (Fairfax Media, 2016). The company pays a dividend as a return on investment to its shareholder which is $ 4,59,90,000 against a total equity of $ 1,03,40,92,000 which is 4.44 % which is quite low compared to the average cost of capital which is 9.45%. In this way, the company has played a very smart move by not indulging them in any fixed interest payments. The company has not issued any preference shares as well which also suggests that there is no requirement to pay any preference dividend to its shareholders (Bloomberg, 2016). The company has not either issued any debentures as well. So it has also allowed them f rom paying debentures interest. However, there are two reasons to worry for FXZ, which are briefly explained below: The amount of retained losses is huge and ever-increasing which suggests that the company has not been run properly by the management. There are retained losses of $ (37, 20,198,000) which is a dent on companys reputation (Fairfax Media, 2016). The same was the case in the year 2015 as well where retained earnings were in negative to an extent of $ (2, 72, 55,44,000). As the company has not included any outside debt in its capital structure, the company is sure to lose tax benefits on payment of committed interest on outside liabilities and debentures (Fairfax Media, 2016). Also, the financiers do not have any say in companys decision making, unlike equity shareholders which is one of the reasons that the companys management is always under the influence of equity shareholders which shows its adverse effect in companys decision making also (Henderson et. al, 2015). Computation of gearing ratios Gearing ratio refers to an analysis of the ratio of a company's long-term debt compared to its equity share capital. It is a comparison of total debt utilized in the company against the total capital of the company. It reflects the ratio of debt to total capital or total debt against total equity capital. A high gearing ratio reflects that the company is highly dependent on debt as its capital which also says that company shall be required to pay high-interest payments to its financiers (Brealey et al, 2014). On the other hand, A low gearing ratio reflects that company is using more of equity as its source of capital. Both the situations are different and have different effects on the company workings. We shall explain this by an example: Situation no. 1 Total Debt: 100 million $ Total Equity: 500 million $ Total Capital: 600 million $ Gearing Ratio: Debt/ Equity 100/ 500 m $ = 1:5 ratio or 0.2:1 In this situation, we see that company has 20% exposure in debts in its total capital which suggests that company has not entered into any high fixed intrest payments annually. Dividend payment is not necessary hence the dividend payment potion can be retained in the company for various decisions. Situation No. 2 Total Debt : 400 million $ Total Equity: 100 million $ Total Capital: 500 million $ Gearing Ratio: Debt/ Equity = 400/ 100 = 4:1 In this situation we see that the company is highly dependent upon debt as its capital sources, it is evident that company shall be required to pay off annual interest payment to its debt holders may be its bank, debenture holders or other borrowings (Brigs, 2013). The company shall not have the option to save or retain that part of payment. The company shall have the option to pay or not pay dividends to its shareholders. Findings with reference to Capital structure As shown above, the two situations show two different capital structure mixes. Both the situations have its advantages or disadvantages respectively. It is the company strategy or company vision to use the type of the funds it wants to utilize in the company that is dividend or interest (Davies Crawford, 2010). In our recommendation, the company in its earlier years of existence should depend on equity as its mode of capital because the company initially should not want to indulge in fixed payments. On the contrary, the established companies should use debts in its capital portfolio 9 Healy et. al, 2012). The reason behind is that the established companies do not want to share their company voting rights with issuing more equity share capital. The company strategy should decide whether it should use more of debt or equity in its capital structure. An optimal capital structure is one which has a best debt-to-equity ratio for a corporate house that maximizes its market capitalization. The optimal capital structure which offers a balance between debt-to-equity and minimizes the firm's cost of capital is considered as the best capital mix (Correia et. al, 2005). The company aim should be to reduce its total cost of capital i.e. cost of utilization of capital debt, preference shares, equity should be minimum. This shall ensure that the company shall be well placed in terms of optimum capital structure. FXZ is highly un-geared and equity capital oriented company meaning that it has low debt compared to equity share capital, this is not an optimal capital structure as this does not ensure the minimum cost of capital or maximized share value. Market share price is dependent upon company financial performance (Albrecht et. al, 2011). FXZ uses high equity as its source of capital. Its gearing ratio is saved by negative retained earnings which have further reduced shareholders funds. Hence gearing ratios of FXZ are not optimal. The year 2016 has not been good for FXZ because its financial position is not so rosy for its investors . There has been huge impairment and amortization cost in this year 2016 which has an effect on its profits and accumulated losses (Deegan, 2011). Recommendation We recommend changes in company capital structure due to the high dominance of equity capital because the company is able to please its shareholders with negative retained earnings and low dividend payout. The company should borrow some long-term funds with low-interest rates also and it should try to break even or try to reduce its losses (retained losses). The company should try to issue corporate bonds with late maturity or fewer interest rates or it may issue debentures to public to raise funds. Fundraising by the company shall reduce its burden on existing capital structure and shall fuse new energy in the company. The company should also try to explore more earning avenues. The company should various optimal capital structure to find out which suits them better for their company (Brealey et. al, 2016). The company should calculate the cost of capital at different capital mixtures. Conclusion The company FXZ is in cash crunch and is running into losses, the management should seriously think about ways to pull back the company from this awful situation. The company is eating up its resources with every day like high retained losses shall finish shareholders funds and the company shall not have anything to pay back its shareholders. The company can approach its debtors and receivables to pay them fast and soon so that they may invest them and reduce their losses. The company should try to identify areas where cost cutting can be done to reduce its expenses. Budgeting is an excellent tool which can be used by the company to standardize its expenses and spend accordingly. These are some of the ways we would like to recommend to the company to improve company financial position. The company FXZ has to try to include some leverage effect to its financial statements at minimum interest rates. The company board has to bring a radical change in its capital structure by managing it s long-term capital commitments. The company should decrease its cost of capital by using an optimal capital mix. The basic aim of optimizing capital structure is to select that proportion of various forms of debts and equities mixes that maximizes the firms value while minimizing the average cost of capital. References Brealey, R. A., Myers, S. A., and Marcus, A. J. (2015). Fundamentals of Corporate Finance, 8th ed. Australia: McGraw-Hill Irwin. Correia, C, Mayall, P, O'Grady, B Pang, J. 2005. Corporate Financial Management, 2nd ed. Perth: Skystone Investments Pty Ltd. Henderson, S, Peirson, G, Herbohn, K, Howieson, B. (2015). Issues in financial accounting. Pearson Higher Education AU. Healy, P. M, Palepu, K. G. (2012). Business Analysis Valuation: Using Financial Statements. Cengage Learning. Albrecht, W, Stice, E Stice, J. (2011). Financial accounting. Mason, OH: Thomson/South-Western. Brealey, R, Myers, S. Allen, F. (2014). Principles of corporate finance. New York: McGraw-Hill/Irwin Brigs, A. (2013).Financial reporting analysis. Mason, Ohio: South-Western. Davies, T. Crawford, I. (2012). Financial accounting. Harlow, England: Pearson. Deegan, C. M., (2011). In Financial accounting theory. North Ryde, N.S.W: McGraw-Hill Fairfax Media. (2016). Fairfax media 2016 annual report accounts. Retrieved May 22, 2017 from https://www.fairfaxmedia.com.au/ArticleDocuments/193/FAIRFAX%20Annual%20Report%202016.pdf.aspx?Embed=Y Bloomberg. (2016). Australian rates and bonds. Retrieved May 22, 2017 from https://www.bloomberg.com/markets/rates-bonds/government-bonds/australia

Guanxi free essay sample

The Chinese Cases Liang-Hung Lin ABSTRACT. Being different from the Western concept of ‘‘relationship,’’ Chinese concept of ‘‘relationship,’’ that is, guanxi profoundly in? uences Chinese society in commercial activities, business ethics, and organizational behaviors. Moreover, ? rms can develop their networks of guanxi to gain competitive advantages. Highlighting the cultural and organizational antecedents of guanxi, namely Confucianism and organizational ethical climate, this study examines the in? ence of these two antecedents on guanxi and makes comparisons of guanxi, Confucianism and organizational ethical climate between Taiwan and Mainland China. The results show that Taiwan, where preserves more Confucian culture, tends to put much emphasis on guanxi than Mainland China, especially with respect to mianzi. Concerning ethical climate, Taiwan tends to have instrumental, and law and code ethical climate. KEY WORDS: guanxi, Confucianism, organizational ethical climate Introduction Chinese guanxi has been a popular issue in the ? ld of social science since 1980. Western managers and scholars also ? nd that even though guanxi in Chinese society and ‘‘relationship’’ in Western society seem to have similar literary meaning, they are actually different in expression and result (Xin and Pearce, 1996). In Chinese society, guanxi is one of the disciplines in life and has profound in? uence on commercial activities, business ethics, and organizational behaviors. It is thus regarded as the central notion of understanding Asian society and business behaviors (Boardman and Kato, 2003; Luo, 2002). In addition, it supports two or more than two organizations dealing with resource transactions and distribution, or sustains behaviors resulting from mutual contact and interaction. Yeung and Tung (1996) pointed out that guanxi refers to a general form of social networks and has the implication of ‘‘gate/pass’’ and ‘‘connection. ’’ In other words, a network of guanxi is established in the connection between two independent bodies, the purpose of which is to promote mobility of individual or social transactions between two sides. Moreover, both sides have to be driven by bene? ts and con? rm the continuance of guanxi when doing business with each other. Guanxi is emphasized by Chinese society, in which roles and bene? ts are subtly related to each other or even dif? cult to be separated. Analyzing the effect of guanxi on modern Chinese society, Yang (1994) regarded guanxi as a key factor in driving Chinese government to operate. Moreover, people usually use guanxi to control others and distort the laws. Yan (1996) then indicated that guanxi is established by the development and maintenance of network relationships to help one get through all kinds of dif? culties in life. Kipnis (1997) even precisely pointed out that the formation of guanxi in Chinese society involves complex social and affectionate networks within peers, families, or friends and these networks consist of three elements, namely mianzi, affect and reciprocal favor. Furthermore, guanxi is one of the major dynamic characteristics in Chinese society. It not merely refers to a very special relationship between two people, but also implies an endless exchange of favors (Alston, 1989). Thus, the existence of guanxi between people usually relies on three elements: (1) sharing identities and status with others in a group or mutually having an association with the same person; (2) actual connections and frequent contact between people; and (3) getting close to someone by direct interpersonal interaction. In addition, guanxi is considered as interpersonal networks of reciprocal bonds. Liang-Hung Lin According to the above descriptions, it can be seen that interpersonal relationships in China are very abstract and are established by cultural-rooted criteria (Tsui and Farh, 1997). Xin and Pearce (1996) considered that guanxi is a general and important element of culture and society in Eastern society. At the same time, it is also the key force which promotes relationships between people or organizations. To those Chinese ? rms, guanxi is closely tied to life. The development of guanxi can be regarded as a competitive advantage to face competitions and overcome resource shortage. It thus becomes the vital source of social capital (Lin, 2007) and commercial activities in Chinese society. Concerning organizational behavior, guanxi represents informal relationships and networks which are established through favor exchanges. It roots in Chinese traditions and predominates the commercial activities in China and East Asia (Lin and Ho, 2009; Lovett et al. , 1999). Following the previous studies of guanxi, this study contributes to organizational ethical literature by answering one question: Where does guanxi come from? In order to properly elucidate guanxi in Chinese culture, this empirical study aims at highlighting the cultural and organizational antecedents of guanxi, that is, Confucianism and organizational ethical climate. The in? uences of Confucianism and organizational ethical climate on guanxi will be hypothesized and examined in the following sections. (Alexander and Rudd, 1981). While ‘‘face’’ represents an identity at individual level, mianzi in Eastern society represents a positive social value that one successfully earns from others in speci? c social interaction. It is also the self-image which is praised by society (Goffman, 1972). In their Politeness Theory, Brown and Levinson (1978) brought up two kinds of face, namely negative and positive face. While positive face refers to the need of one’s value to be accepted or praised by related people, negative face refers to the public image which represents independence and self-suf? ciency. In order to enhance and extend feasible guanxi, it is indicated that mianzi must be maintained to a certain degree (Yeung and Tung, 1996). Park and Luo (2001) suggested that mianzi represents the social trend and imagined individual status which are in? enced by one’s social status and actual wealth. As long as strong mianzi is earned, one can take control of dynamics in social networks. In China, mianzi denotes one’s public image which is built by certain social roles and it deeply in? uences Chinese social life. Thus, ‘‘saving mianzi’’ closely relates to self-e steem. In Chinese society, if one loses mianzi, one cannot have a foothold or even live in society. In sum, mianzi is the key element of Chinese relationship dynamics and indicates a social status or reputation that one earns from his/her achievements in society. The exercise of mianzi can be viewed as a kind of impression management, being deliberately manipulated by an individual in order to create a particular impression on others. In other words, mianzi involves one’s status in Chinese social networks, the possibility to be accepted by society, as well as the special power one can enjoy. Thus, mianzi is important to one individual. Affect Yang (1994) considered affect as a type of social resource, which has the function of leverage in interpersonal transactions. This social resource includes not only the speci? aspect of money or commercial goods, but also the abstract aspect of emotion, showing one’s informal social responsibility toward partners. In the exchange of resources, ‘‘judgment of guanxi’’ is the major concern by Chinese (Hwang, 1987). Moreover, when one develops a network of guanxi in which affect is involved, one is at the same time constrained by this Literature review Characteristics of guanxi Based on Kipnis (1997), guanxi involves mianzi, affect and reciprocal favor, which are the characteristics of guanxi. Mianzi Not merely the product in Asian collective culture, mianzi is actually the concept generally existing in all cultures (Pharr, 1989). However, the extent to which mianzi is concerned, its external performance and its criteria for judgment between Western and Eastern society are very different (Brown and Levinson, 1978; Ho, 1976). In Western society, the concept of mianzi is close to that of ‘‘face,’’ referring to one person’s identity in a particular situation Cultural and Organizational Antecedents of Guanxi network. In Chinese society where guanxi and the exchange of guanxi are emphasized, affect is usually used by Chinese to maintain their guanxi with others (Hwang, 1987) and the criteria of guanxi exchange relies on the situation whether it abides by affect. Once one receives affect from others, even if it is paid back afterward, the complex of affect being given is still there. This concept of affect thus makes guanxi be seen as a long-term investment by Chinese society. Reciprocal favor Reciprocity in Western networks means that two sides must take the same value and reciprocate equally to each other. All the exchanges are in pursuit of the balance between costs and bene? ts (Powell and Goulet, 1996). The study by Park and Luo (2001) showed that in the principle of reciprocity, guanxi should be reciprocal. However, in Chinese society, it is reciprocal in the maintenance of guanxi, but not always in bene? ts (Jacobs, 1979). Hwang (1987) indicated that inter-reciprocity and inter-dependency of the corresponding roles make interpersonal guanxi a symbiotic system, in which guanxi of both sides is complementary instead of being equal. After adding affect and guanxi to reciprocal favor, originally simple behaviors of exchange has a subtle change. Moreover, the major concept of reciprocal favor lies in the consistency in quality, but not in quantity. Concerning the time of reciprocity, while reciprocal favor in Western society is considered to be immediate, short-term, or discharged within a certain period of time (Tsui and Farh, 1997), that in Chinese society involves ‘‘be my teacher for a day, be my teacher for a lifetime,’’ that is, the concept of lifetime reciprocity, or even reciprocity in afterlife, if one thinks favors are too great to be discharged in this life. Tsui and Farh (1997) considered that behaviors of reciprocal favor derive from affect, which implies an ideal network of guanxi. If one ignores the commitment of reciprocal favor, one will feel losing mianzi or even jeopardize his/her social networks. relations at that time, he thus devoted himself to developing Confucian doctrine, the ultimate concern of which was to establish order in society. In the doctrine, wu-lun not only established social rules, values, and hierarchical power structure, but also formed factional networks, all of which have profound in? uence on follow-up Chinese culture. Therefore, connections between people are usually emphasized above formal requirements and legal regulations (Luo, 1997). Confucians claim that when socializing with others, one should judge his/her role relation with others by two cognitive dimensions, namely closeness and pecking order. While closeness refers to having a near or distant relation, pecking order refers to having an inferior or superior status between individuals. After the judgment of these two dimensions, paying respect to those whom they honored is the sense of benevolence and serving those who are dear to them is the sense of righteousness. As for the sense of decorum, it is the differential reaction which is made based on the relative degrees of natural affection and the relative grades of honor we have toward others. When this structure is carried out upon one speci? c role, Confucians then further make different requirements in accordance with different role in guanxi. Therefore, ‘‘between father and son, there should be affection; between sovereign and minister, righteousness; between husband and wife, attention to their separate functions; between old and young, a proper order; and between riends, ? delity’’ (Mencius/Teng Wen Gong I), in which guanxi between father and son, sovereign and minister, husband and wife, old and young, and friends, are called wu-lun in Confucianism and each guanxi should be established on the basis of benevolence. It should be also noticed that except for guanxi between friends, the other four contain a vertical differential relation between inferior and superio r. Being in? uenced by the tradition of Confucian culture, guanxi in a family can be considered as the most important one in Chinese society. Hwang (1987) even argued that familism is one of the most important characteristics in Chinese culture and also the basis of Chinese organizations. Park and Luo (2001) used the metaphor of spider web to describe Chinese social networks, where self is located in the center of networks and put others in a near or distant position of irregularly concentric circles, depending on the intimacy in between. On Confucianism and guanxi Confucius was born in the Eastern Zhou Dynasty (551–479 BC). Witnessing the con? icts of human Liang-Hung Lin the one hand, the concept of ‘‘locating self in the center’’ shows the characteristic of autism. On the other hand, others who are put in different circles will be treated differently. In his study of principles, philosophy, and meaning of guanxi, Luo (1997) suggested that guanxi is one of the major dynamics in Chinese society, being involved in or surrounded by general commercial activities. Moreover, its networks are the life blood of social macroeconomics and individual commercial activities. Thus, guanxi is generally regarded as one of the decisive factors in the business performance. Yeung and Tung (1996) studied the relation between guanxi and ? nancial performance of 19 ? rms in Mainland China and the results showed that if one ? rm wants to have a longterm success in Chinese society, guanxi plays an important role. Also, they indicated that guanxi is established in the connection between two independent bodies, the purpose of which is to promote the ? ow of individuals or social transactions. Both sides have to be driven by bene? ts, con? ming the continuance of guanxi in the process of transactions. Lovett et al. (1999) proposed that when technology is stable but environment changes rapidly, commercial transactions often depend on one’s guanxi instead of formal contracts. Chinese sense of guanxi integrates things both possible and impossible to be calculated and uses the weighted concept to depict the qualitative change process of integration. Therefore, guan xi can be seen as affections weighting bene? ts, the qualitative change process through combination of speci? c affections and general bene? s, producing a fermentative connection effect between people. The formation of this ‘‘affections weighting bene? ts’’ relies on the weighted effect. The term ‘‘weighted’’ in the formation of guanxi here refers to a similar to qualitative changing and fermentative reaction in chemistry. In Confucianism, guanxi is a kind of cultural logic, that is, considering guanxi as the performance of Confucian cultural essence and seeing this logic as the cultural essence of Chinese society in Greater China, including Mainland China, Taiwan, Hong Kong, Singapore, and so on (Cheung and Chan, 2005). Confucianism is also described as long-term orientation which refers to ‘‘the acceptance of the legitimacy of hierarchy and the valuing of perseverance and thrift, all without undue emphasis on tradition and social obligations which could impede business initiative’’ (Franke et al. , 1991, p. 167). High Confucian dynamism characterizes individuals who tend to put more emphasis on future oriented Confucian teachings (Yeh and Lawrence, 1995). In the aspect of short-term orientation, guanxi can immediately provide an individual access to the means of private pro? s and substitute a formal organization in order to support and reduce external threats and uncertainty. Nevertheless, in his application of resource-based theory to the analysis of guanxi network, Tsang (1998) argued that if guanxi network does not possess its own value, scarcity, and the characteristic of not being able to be completely imitated, it basically cannot provide any competitive advantages to enterprises. Moreover, these characteristics require correct detection and long-term cultivation of guanxi. Thus, the maintenance of guanxi needs long-term efforts of affection, trust, commitment and mutual bene? t investment. The idea of ‘‘long-term orientation’’ referring to longterm maintenance and cultivation of guanxi network is also supported by Tsang (1998). In order to strengthen guanxi, long-term investment of time in building affections by both sides is required. Yeung and Tung (1996) also mentioned that long-term interaction of bene? ts can establish dependency between two independent bodies within guanxi. Based on the above discussions, this study argues that in order to strengthen the value of guanxi and continue its development, the establishment of guanxi depends on not merely individually active efforts, but also long-term investment in maintaining mutual affections, trust, commitment, and reciprocal behaviors. In this way, guanxi can thus become an ef? cient operating mechanism, using the information transmitted by networks of guanxi to achieve effective economic purposes. Thus, this study proposes: H1: Confucianism positively in? uences guanxi. Organizational ethical climate and guanxi Chinese ethics emphasize relativity and business ethics are established in the general principles of Chinese ethics. Tsui and Farh (1997) were of the opinion that guanxi indicates the objectively Cultural and Organizational Antecedents of Guanxi common background or common experience between individuals. It also implies the differential treatment in interpersonal interaction. Concerning guanxi bases among members in a group, because they have different intensity and depth in interaction, guanxi bases and the centrality of interactive networks should have a positive relation. Different guanxi bases here refer to different guanxi elements of affectivity, normality, and instrumentality. Moreover, responsibility, unequal status and resources, and the concept of favor and reciprocation are also different. In addition, in the studies concerning business ethics and organizational behaviors, scholars argued that business ethical climate can actually be built. Victor and Cullen (1988) were thus of the opinion that although there exists a major climate type in an organization, it is impossible to have only a single type. Instead, ethical climate types differ according to different industrial properties and transactions. Furthermore, they categorized organizational ethical climate into ? ve dimensions. The ? rst one is caring ethical climate, emphasizing care and kindness in the interactive process between ? rm and individuals. Whether a ? rm cares about the bene? ts of its employees is included in this dimension. In a ? rm with instrumental ethical climate, employees, on the one hand, tend to pursue their own bene? ts. On the other hand, they are expected to enhance ? rm’s bene? ts without worrying about any consequences. A ? rm with independence ethical climate respects and allows its employees to perform based on their moral standards. Moreover, it pays attention to employees’ ability of distinguishing right from wrong and their own ethical policy without being in? uenced by others inside and outside the organization. In other words, employees tend to put emphasis on and develop their own guanxi in this climate. The fourth dimension of ethical climate is law and code. A ? rm with this climate expects its employees to comply with the laws or the professional ethics above any other considerations. In other words, employees’ behaviors are guided by the laws. Finally, if a ? rm has rules ethical climate, the rules and operating procedures are norms which are emphasized. In ? rms with the last two ethical climates, employees tend to de-emphasize and weaken their guanxi. Sinclair (1993) thought that organizational ethical climate in ? rms is one of the most important factors which in? uence ethical behaviors of employees. Thus, if one can understand the relationships between business ethical climate and ethical behaviors, one will know how to manage them. Wimbush and Shepard (1994) also argued that employees’ behaviors will change if business ethical climate changes. In view of serious damages to ? rms and society from unethical behaviors, managers can prevent employees from performing unethically through changing business ethical climate in ? rms. Furthermore, the formation of business ethics can help organizations establish ethical norms, making employees not only understand correctly ethical behaviors and ethical issues, but also have common cognition in prevention of unethical behaviors. Based on the above arguments, this study proposes: H2: H2a: H2b: H2c: H2d: H2e: Organizational ethical climate in? uences guanxi. Caring ethical climate positively in? uences guanxi. Instrumental ethical climate positively in? uences guanxi. Independent ethical climate positively in? uences guanxi. Law and code ethical climate negatively in? uences guanxi. Rules ethical climate negatively in? uences guanxi. Method Sample and data analysis method This empirical study examines the in? uences of Confucianism and organizational ethical climate on guanxi. Data ere collected from questionnaires of individuals with at least 1 year work experience in Peking, Shanghai, Nanking, Sian (big cities in China), Kaohsiung, and Taipei (big cities in Taiwan) from August to December in 2009. At ? rst, 250 questionnaires were distributed to Taiwan and 250 to Mainland China. After eliminating 30 invalid questionnaires, this study yields a sample of 470 questionnaires with 94% response rate. 49% of the re spondents are male and 51% of them are female. As for individual ages, 38% of the respondents are under 25, 33% of them are in the ages ranged from 26 to Liang-Hung Lin 35, 19% of them are in the ages ranged from 36 to 45, and 10% of them are in the ages above 46. Concerning educational background, the majority of the respondents have a bachelor degree (38%), 24% a college degree, 30% a high school diploma or under, and 8% a master or doctorate degree. As for capital, the majority of the respondents are in private ? rms (46%), 20% are in state-run ? rms, 22% are in foreign ventures, and 12% are in joint ventures. Variable de? nition and measure Dependent variable The dependent variable in this study is guanxi. Its aspects are based on the de? nition by Hwang (1987), Kipnis (1997), and Lee and Dawes (2005), considering that Chinese guanxi refers to the interaction between people and involves mianzi, reciprocal favor and affect: (1) mianzi: referring to individual behaviors which conform to social expectations, or respect, dignity and public image which are earned by one’s achievements in society. (2) Reciprocal favor: members in a group help each other when needed and favors can be repaid by reciprocation. (3) Affect: associations between people rely on long-term continuity. Guanxi in this study is divided into three dimensions: mianzi (4 items, a = 0. 75), affect (2 items, a = 0. 78), and reciprocal favor (2 items, a = 0. 81). Question items of Guanxi Questionnaire (GQ) are designed with a 5-point Likert-type scale to know how employees care about mianzi (e. g. , the more respect we receive from others, the more mianzi we have); how employees enhance affect with business partners (e. g. , my business partners will sometimes give me gifts or souvenirs); how employees regard their business partners (e. g. I genuinely regard my business partners as good friends) (Lee and Dawes, 2005). Independent variables Independent variables, in this study, are Confucianism and organizational ethical climate. Based on two studies concerning cross-cultural valuing systems, namely Hofstede’s cultural dimensions (Hofstede, 1980) and the national Rokeach’s Value Survey (Ng et al. , 1982), Hofstede and Bond (1988) developed Chinese Values Survey (CVS) to examin e cultural values in 22 Asian and Western nations from a perspective of Chinese social values. In CVS, Confucianism as long-term orientation was found to boost the performance of national economics. This dimension, which represents a form of Confucian philosophy, comprises six 5-point Likert-type items, including ‘‘I am always careful not to do anything inappropriate,’’ ‘‘I never forget my goals even in the face of adversity,’’ ‘‘I avoid offending others,’’ and ‘‘I respect elders. ’’ This dimension has an a value of 0. 78. In measuring organizational ethical climate, this study uses a modi? ation of Ethical Climate Questionnaire (ECQ) (Victor and Cullen, 1988) to ask respondents to rate the importance of ? ve ethical climate dimensions, caring (7 items, a = 0. 77), law and code (4 items, a = 0. 81), rules (4 items, a = 0. 74), instrumental (7 items, a = 0. 75), and independence (4 items, a = 0. 75) on a 5-point Likert-type scale to measure individual perceptions of ethical t houghts. The caring ethical type includes high factor loading items such as ‘‘The good of all the individuals in the ? m should be the main priority’’ and ‘‘Efforts should be made to maximize the bene? t of others. ’’ The law and code type of ethics includes high factor loading items such as ‘‘Individuals should comply with the law and professional standards over and above other considerations’’ and ‘‘The law or ethical code of their profession should be the main consideration for working individuals. ’’ Rules type of ethical climate includes items such as ‘‘Individuals should follow ? rm rules and procedures’’ and ‘‘Everyone should follow the ? m rules and procedures. ’’ The instrumental type includes items such as ‘‘Individuals should do whatever is necessary to further ? rm interests, regardless of the consequences ’’ and ‘‘Individuals should protect their own interests above all else. ’’ The independence ethical type includes items such as ‘‘Firm employees should decide for themselves what is right and wrong’’ and ‘‘Firm employees should follow their own personal and moral beliefs. ’’ Control variables Control variables include three parts. Firstly, demographic variables: gender (male, female), age Cultural and Organizational Antecedents of Guanxi (under 25, 26–35, 36–45, and above 46 years old), educational background (senior high school or under, college, university, and master or doctor program), previously accumulated work seniority (1–5, 6–10, 11–15, 16–20, and above 20 years). Secondly, capital variables: state-run ? rms, private ? rms, joint ventures, and foreign ventures. Finally, environment variables: residence in Taiwan or in Mainland China. Reliability and validity of variables The questionnaire of this study, guanxi Questionnaire (GQ), is designed based on Lee and Dawes (2005), the scale of which was revised by Hwang (1987) and Kipnis (1997), Confucianism is based on national culture scale by Hofstede and Bond (1988) and Franke et al. (1991), and ECQ is designed based on Victor and Cullen (1988). After analyzing each dimension, items with factor points under 0. 6 are deleted, and the rest of the items are then named, respectively. As for guanxi, overall coef? cient is 0. 80, and Cronbach’s a in each dimension is all higher than 0. 75. As for ECQ, overall Cronbach’s a is 0. 79, and Cronbach’s a in each dimension is all higher than 0. 74. In sum, the variable dimensions in this study are in the range of effective reliability. Thus, the questionnaires of this study are revised from previous questionnaires with similar topic and based on literature, reasoning and theoretical background of which has reached certain degree of stability and internal consistence. To conclude, the questionnaires of this study are not only comprised of theory base, but also content validity. Analysis and result Table I shows descriptive statistics for variables.