The IT Strategic Plan

Abstract The adoption of an IT strategy represents an important step in the transformation of organizations after its development. The success of an IT strategy is not only dependent on how detailed it is, but also on the measures and leadership styles at the various levels of its implementation.Advertising We will write a custom coursework sample on The IT Strategic Plan specifically for you for only $16.05 $11/page Learn More The paper discusses the various levels that leadership plays a crucial role in the adoption of a developed IT strategy. At the individual level, the proper leadership style is transformational, with this style being consistent in other levels of the organization. The other levels discussed include organizational, traditional and virtual teams, department, inter-organization, partnership, and global ranks. For each level, the definition of the x, y, and z-axes is provided with a justification for each axis together with a proper le adership style for each of them. Transformational and democratic leadership styles are described as being important at the various levels. Introduction This paper gives a particular way in which organizations may apply the detailed strategies that they develop in their Information Technology department to improve their performance and competitiveness with the use of Wal-Mart as a case example. The basic levels of application discussed include individual, group, organizational, departmental, traditional and virtual teams, inter-organizational, and partnership on the global front. Initiatives to be implemented The application of any Information Technology plan must be global in an organization. At all the relevant levels, an example of a strategic plan is that which the retail company Wal-Mart should adopt. The adoption of a leadership model is important in ensuring that the IT strategies can be followed through the standard means. Different companies adopt different leadership models depending on their specific needs (Concepts of Leadership, 2013). Wal-Mart is described to have adopted the 3D IT leadership model, which will be important in the application of the IT strategy at the different levels discussed below. Individual Level At the individual level, each of the employees should have the IT strategies adopted before they (strategies) become organizational. In the over 10,000 associates that the company has in the combination of IT corporate office and corporate campus (Holmes, 2011), each of these individuals should be utilized to ensure that he or she has the core values of the strategy internalized. One of the important factors at the individual level is communication as shown below.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Source: (Concepts of Leadership, 2013) Any organization should ensure that there is an individual effort to establish good comm unication culture (Heckman, 2012). Each individual should be able to communicate the basic components of the IT strategy to customers as well as other individuals within and outside the IT department. There is also the need for collaboration at this level (Drnevich, McIntyre, 2010). Some of the technological breakthroughs that must be embraced at the individual level in communication include the use of emails, call conferencing, video conferencing, and social sites among others (Makadok, 2011). In the application of the IT strategy at the individual level, an appropriate leadership style should be adopted. On the X-axis, a transformational leadership style should be adopted (Kraaijenbrink, Spender, Groen, 2010). This allows for the effective collaboration between individuals. The Y and Z-axes are also important to consider. An individual should also be driven by service to adopt the IT revolution that the strategy is likely to bring to the organization. Organizational Level Wal-Ma rt has adopted a 3D leadership model in the organization, especially in the IT department. As an organization, certain measures are necessary for the integration of an IT strategy. These measures should be geared towards the attainment of the organizational and strategic goals. At this level, a customer information system is necessary. The organization should aim to adopt the latest changes to ensure that customers get the best service, including the automation of all processes and/or the use of online services. The organization should also put updated infrastructure in place to facilitate the developed IT strategic plan. The personnel that the company employs serve in the various departments. They should be qualified and specialized in the application of the IT strategy. A customer information system such as the one that is already in place at Wal-Mart is another service that organizations should implement to enable customers access the services from any apart of the globe.Advertis ing We will write a custom coursework sample on The IT Strategic Plan specifically for you for only $16.05 $11/page Learn More In the organization’s administrative functions, the right information systems should be in place (Bharadwaj, El Sawy, Pavlou, Venkatraman, 2009). This plan should foster the latest technology, through planning and implementation of the revolutionary and contemporary inventions that are geared towards customer satisfaction, efficiency, and accessibility. The leadership that should be adopted at the organizational level is one that facilitates the adoption of the IT strategy. It should be democratic to allow the impending change. The leadership should also be ready to invest financially in the project to facilitate its adoption. On the X-axis, the organization should adopt collaboration with likeminded individuals and organizations. On other axes, the organization should collaborate with executives in other IT firms both i n and out of the industry. Some of the important measures that should be adopted to oversee the successful implementation of the strategy at the organizational level include a working and efficient management team, employees devoted to the organization, and effective time management (Kranz, 2013). The IT Department This department plays the most important role in the development and application of any strategic IT plan. Companies such as Wal-Mart have well-established IT departments with the capability of independently developing a model for the application of an IT strategy (Vitorino, 2012). The major role that the department will play is in the improvement of the IT infrastructure, including the creation and management of a working website for the organization. The department should also adopt a transformational and democratic leadership style to oversee the adoption of these changes. The leadership should also be focused on strengthening the brand of the company through the utili zation of technological innovation such as the website. Some of the other measures include the use of online managers to manage relations with customers and/or handle all organizational transactions. The website that the organization develops should also be reliable and easy to use for customers, with an attractive look that integrates the company’s goals and values.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The department should also invest in qualified personnel that should be trained on the use of the latest technology and internet services. Leadership at this level should be transformative on the X-axis and facilitative to the overall change to be adopted. The essential infrastructure that the company should maintain and/or invest in includes the hardware and software infrastructure to run the network. The department should also be a leader in the organization in the use of IT services. On the Y dimension, the department should be collaborative with the larger organization and other departments on the Z dimension. The justification for this plan is that the collaboration will provide a framework for developing the necessary implementation policies for the IT strategy. Wal-Mart is one of the organizations that have adopted a 3D leadership model in the IT department. Traditional and Virtual Teams It is imperative for organizations to set up teams to oversee the implementation of the I T strategy. Some of these teams are traditional and virtual. Nevertheless, they should work in collaboration with other teams within the department and organization. The traditional and virtual teams are necessary in the development of the necessary infrastructure such as the wireless and wired networks to be used within the organization and in the department. These teams should have leadership styles that are complementary to the one within the organization as well as other relevant levels. The main role should however be the consolidation of servers for the efficient running of the network. Inter-organizational Level In the current global economy, no organization is independent of the others. In the development of strategies, consideration should be made to the related organizations. One of the most commonly utilized inter-organizational policies in the IT sector is the electronic data interchange (EDI) (Kaplan, Haenlein, 2010), which allows room for the networking of organizatio ns to improve relationships in their IT sectors. Some of the significant impacts that the adoption of the EDI will have include changes in the social and operational fronts (Kaplan, Haenlein, 2010). Application of IT strategies between organizations within the same industry represents an X-axis relationship while the Y-axis relationship is represented by the relationship between organizations in different industries or sectors. The leadership adopted in at this level should also be transformative. Organizations should also be democratic in their interactions. The aim of applying an IT strategy in the inter-organizational level is to reduce the costs of inter-organizational operation. According to Yue, this strategy is effective (2012). In the case of Wal-Mart, the presence of inter-organizational collaboration in the application of IT strategy should be consistent with the 3D model of leadership adopted in the organization. The leadership type that should be adopted should be visio nary and democratic as it is in other levels. Partnerships Leaders in the IT department and/or at the highest level of the organization should embrace partnership with other organizations to oversee the implementation of the IT strategy. The main types of organizations of relevance are the other organizations involved in information technology and those that apply it. One benefit that such collaboration has to an organization is the reduction in operational costs (Harris, 2011). Collaboration on this field will also enable improved competitive advantage where an organization is able to invest in structures to compete in the IT sector. Organizations such as Wal-Mart and leaders in them should adopt certain values to oversee the implementation of the IT strategy. Wal-Mart has such values in its operational strategies that reveal how principles of integrity, justice, and impartiality direct the industry to guarantee that its parties uphold the faith of its investors. This resolution is important in partnership and in the application of the IT strategy. Conclusion: Global Level On the global front, organizations should adopt a leadership model that allows easy adoption of the most recent technological innovation to compete with others. Leaders at the various levels should be involved in the development of a global IT-targeted policy. The global economy is embracing IT. No organization should be left behind in this venture, as its competitiveness will reduce. The kind of leadership that should be adopted in this area is one of collaboration. The 3D model applied in the IT department for Wal-Mart is representative of this claim. Reference List Bharadwaj, S., El Sawy, O., Pavlou, P., Venkatraman, N. (2009). Call for Papers MISQ Special Issue on â€Å"Digital Business Strategy: Toward a Next Generation of Insights. MIS Quarterly, 33(1), 204-208. Concepts of Leadership. (2013). Retrieved from http://www.nwlink.com/~donclark/leader/leadcon.html Drnevich, P., McIntyre , D. (2010). Information Technology and Strategy: Two Camps, Four Perspectives, One Elusive Goal. International Journal of Strategic Information Technology and Applications, 1(2), 1-18. Harris, M. (2011).Strategic planning for information systems. Journal of information technology, 6(1), 60. Heckman, R. (2012). Strategic information technology planning and the line manager’s role. Information systems management, 20(4), 16-21. Holmes, T. (2011). The diffusion of Wal-Mart and economies of density. Econometrica, 79(1), 253–302. Kaplan, M., Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1), 59–68. Kraaijenbrink, J., Spender, C., Groen, A. (2010). The Resource-Based View: A Review and Assessment of Its Critiques. Journal of Management, 36(1), 349-372. Kranz, G. (2013). Wal-Mart Drafts Leaders for Military-style Training. Retrieved from https://www.workforce.com/2013/06/12/wal-mart-drafts-leade rs-for-military-style-training/ Makadok, R. (2011). The Four Theories of Profit and Their Joint Effects. Journal of Management, 37(5), 1316-1334. Vitorino, A. (2012). Empirical entry games with complementarities: An application to the shopping center industry. Journal of Marketing Research, 49(1), 175–191. Yue, L. (2012). Asymmetric effects of fashions on the formation and dissolution of networks: Board interlocks with Internet companies, 1996–2006. Organization Science, 23(1), 1114–1134. This coursework on The IT Strategic Plan was written and submitted by user Aal1yah to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Toshiba essay

Toshiba essay Toshiba essay Toshiba essayToshiba is pursuing the innovation strategy oriented on the introduction of innovations in the high tech industry, focusing on electronics as its main priority. At the same time, the company focuses on innovations that help the company to take the lead in the industry and outpace its rivals in the field of high technologies. The focus on high tech industry and innovations helped the company to reach a considerable success in the market and its business development.Customers play an important part in the product development of Toshiba. The company traditionally involved customers in the development of new products and improvement of existing ones. For example, the company used interviews and questionnaires to receive the feedback from customers. On analyzing the feedback, the company introduced changes as well as innovations that helped the company to enhance its position in the market, as was the case of the introduction of shock-resistant mobile PCs, 0.85 inch hard driv e used in miniature computers and GPS units, and others. More recently, Toshiba has introduced the mobile phone application to conduct questionnaires and obtain the feedback from customers for improving its products and introducing new ones on the ground of the analysis of the customer feedback. In such a way, the company uses the feedback from customers to improve its products and introduce innovations.Toshiba can improve its innovation strategy by developing research and development laboratories involving customers, where customers could suggest products, which they would like to have, while Toshiba professionals could evaluate, analyze and focus on those suggestions which open good prospects for the development of innovative products or can improve existing ones. Unlike conventional customer feedback, the involvement of customers in development laboratories will help the company to get new ideas directly from customers, who can suggest their own innovative products, which they ar e dreaming of but cannot find in the market so far. In such a way, the company will get information not only about its current products and ways of its improvement or creation new ones, but also the company will obtain information on what customers expect from the company in the future and what products are particularly attractive for customers.The main driver for innovations in Toshiba was the strife of the company to keep progressing and help the world to progress too. At the same time, the company used to work in the time of scarce resources, when Toshiba had faced the shortage of resources supply during World War II. The lack of resources stimulated innovations introduced by the company, while the further success of the company brought by innovations encouraged the company to keep introducing innovations that became the major driver of the successful business development of Toshiba. As a result, Toshiba used innovations to keep progressing and implement its vision and mission.Th e role of the brand was particularly significant in the overall success of the company. In the course of its history, Toshiba has shaped the image of a reputable company oriented on innovations. This is why today Toshiba is a renowned brand that is popular worldwide. Customers from all over the world recognize Toshiba brand that helps the company to expand its business and enhance its position in both domestic and international markets.

Palm Treo for Management Information Systems Essay

Palm Treo for Management Information Systems - Essay Example Most of the cases, the equipment comes with all the information that is needed in the form of user manual and troubleshooting information. In case, this information is needed, it is obtained on the web. If the problem is still not resolved, the call center of the company can be reached using a toll free number in US and in most other countries. This vouches for their support. Specifications: Palm Treo 755p is a smart phone that combines the phone with mobile computing. It runs on Palm OS; a smart phone with wireless email, a built in web browser and rich multi media capabilities. It comes with an inbuilt memory of 3.6MB of Flash RAM preloaded with MS Word MS Excel and MS PowerPoint apart from other standard emailing software too. On the phone side, it has a large color touch screen, Qwerty key board with a built in speaker phone, conference calling, speed dialing, call history, caller id and a built in organizer. It also supports on the move Google Maps, Push technology on the Microsoft Outlook to push your emails out. Broad band network employing EvDO technology, an in-built camera for video or for stills, streaming of both radio and TV over the internet and using the system as an high speed modem. All this makes the Palm Treo a new high end smart phone. Pros and Cons: The smart phone brings in a new mobile computing platform to the company enabling every one of the user to be in continuous touch with others. This would ensure that jobs get done faster. This also is a negative feature since there is no rest for the employee unless he or she switches on the phone. Technically, the phone directly communicates with Windows environment PCs but since the server of the company is on Unix and Linux based systems, there needs to be conversion, which the company has to make use of. Otherwise, data availability to the marketing and support people will enable the company to provide swift support as well as the possibility to remind the customer across the table on pending payments or order dues even on the move. Users comment that the phone is easier to use and the screen is light on the eye. The sound is good says another user. (available at: http://www.mobiletechreview.com/Treo-700w.htm). Also the technology that has been made use, make it a very reliable phone and a smart phone / PDA at that. The phone is scores a strong 10 out of 10 technically; 8 out 10 for user friendliness and therefore, an overall 9 out of 10 as a smart

Tort Coursework Essay Example | Topics and Well Written Essays - 1500 words

Tort Coursework - Essay Example It was argued by Gray that he had been beset by these ills, as a consequence of the post traumatic stress disorder engendered by the negligence of the defendants2. Gray’s claim was that in the absence of the defendants’ tort, he would not have been deprived of his earnings. Therefore, he contended that he had been put to a loss. Moreover, Gray claimed damages for the loss of earnings, prior to and subsequent to his killing of the pedestrian3. The legal doctrine of ex turpi causa oritur actio implies that an illegal or immoral act cannot constitute the basis for a cause of action4. The courts are required to adopt a non rigid stance, whilst effecting the doctrine of ex turpi causa oritur action. As such, it is essential for the court to apply the test of public conscience. Hence, it should arrive at a judicious balance between the negative outcomes of granting relief against those arising from the refusal to grant relief5. In Gray v Thames Trains Ltd, Lord Hoffmann stated that the maxim ex turpi causa was more of a policy than a principle. Moreover, such policy depends on a combination of several factors; which could vary, in accordance with the situation obtaining, in a specific instance6. Therefore, the court does not encourage a plaintiff to recover some benefit out of his own illegal act. Gray’s capacity to earn had been rescinded, due to the imposition of the hospital orders. The House of Lords, opined that the award of damages to the claimant, in respect of the loss of earnings, for the period, during which, the latter had been subjected to the orders of the civil court; would be at variance with the policy, on which these orders had been made7. In this case the House of Lords analysed the issues relating to causation and public policy, with regard to psychiatric illness. Lord Phillips had opined that

European Model Of Corporate Governance

European Model Of Corporate Governance Corporate governance comes into play in cases where the management of the organization has to be carried out by a manager or a group of managers who are not the owners of the organization. In essence, corporate governance is implemented by a business financers in order to monitor and regulate the organizations utilization of their investments (Becht, Chapelle Renneboog, 2000). In this case, the individuals hired to manage the business are paid employees and are responsible for the effective execution of the organizations processes. As a result of this arrangement, it is only natural for a separation to exist between the ownership of the organization and the management of the organization (Brickley, Coles Jarrell, 1997). While this may appear to be a simple concept, modern day business models have allowed corporate governance models to develop rapidly over the last few years and this has led to the development of differing corporate governance models. The implementation of these cor porate governance models generally varies in accordance with the region in which the organization is functioning and the nature of business of the organization. This paper will attempt to compare and contrast the Anglo-American model and the European Model of Corporate Governance. The paper will attempt to perform this comparison in order to ascertain which of the two models more accurately reflect emerging corporate trends. Furthermore, the discussion will make international comparisons based on a variety of different economies. Before moving on with the discussion, it is essential to come to terms with the role of the board of directors of the organization. The board of directors play a pivotal role in corporate governance models. This is because of the fact that they serve as the bridge between the stakeholders of the organization and the management team responsible for the organizations processes (Brickley, Coles Jarrell, 1997). The sensitivity of the role of the board of directors can be judged through the fact that an extensive degree of research has been performed on the functions and composition of the board of directors. Regardless of the corporate culture in the organization, the board of directors remains present as a critical connection between the organizations human capital and the organizations stakeholders. Another reason because of which the board of directors are given extensive relevance is the fact that almost all corporate governance models look towards the board of directors when it com es to the implementation of the corporate governance models (Becht, Chapelle Renneboog, 2000). The characteristics of the board of directors tend to vary with regard to the size of the organization, the region/regions in which the organization is functioning, the existence of the company as a listed or unlisted company and the industry/industries in which the organization is operating. A practical example of the implementation of the European model of corporate governance and the Anglo-American model of corporate governance can be observed in the case of the US and Europe respectively (Brickley, Coles Jarrell, 1997). In Europe, a small number of investors are capable of making pivotal investment decisions and these decisions are generally aligned with the interests of the selected investors responsible for the decisions. In comparison, the system generally followed and proffered in the US calls for the inclusion of multiple opinions and perspectives (Becht, Chapelle Renneboog, 2000). The corporate strategy that is developed and eventually implemented is not finalized until all the investors are and shareholders are in unanimous agreement. Managements role In the case of the Anglo-American countries, it is often considered that the Anglo-American system of corporate governance gives unquestioning support to the management (Becht, Chapelle Renneboog, 2000). This creates a scenario in which the management appears to have a role that is limited to the short run and does not encompass the long run. It can therefore be surmised that the management, in the case of the Anglo-American system of corporate governance, frequently communicates with the stakeholders. As a result, managers in the Anglo-American system of corporate governance try to implement strategies that will show outcomes within the span of a year or two (Brickley, Coles Jarrell, 1997). In comparison, when the management implements the European model of corporate governance, decisions are taken with outcomes expected around five years. In such cases, the shareholders generally hold more decision making authority than that which is given to the managers. Furthermore, controllin g and holding structures are significantly common in organizations making use of the European model of corporate governance. In such cases, the European model of corporate governance is also often referred to as the concentrated shareholder model because of the extensive authority that it gives to the shareholders. This concentration of ownership can often lead to the development of complications in cases where financial resources have to play their part (Becht, Chapelle Renneboog, 2000). The number of equity suppliers is generally deficient in the European model of corporate governance because of the concentration of ownership. Another characteristic of the European model of corporate governance that merits highlighting at this point is that which pertains to the role of the capital market. The capital market holds importance for corporate governance on account of the fact that the developments in the capital market have a direct influence on the corporate controls of the organization (Brickley, Coles Jarrell, 1997). While the Anglo-American model of corporate governance relies heavily on the capital market and seeks to takeover threats in the capital market, the European model of corporate governance gives primary relevance to the stakeholders. Internal Differences Labour motivation is a critically important factor when it comes to the organizations performance. Since labour in the European model of corporate governance is always a part of the decision making process, it is generally more motivated than the labour force in the Anglo-American model of corporate governance. Since the labour is relatively highly motivated, they choose to contribute to the organizations development aggressively (Brickley, Coles Jarrell, 1997). This active participation on the labours part tends to place a limitation on the degree to which the supervisory board can exercise authority (Hanson Song, 2000). Influences of the labours active participation can generally be seen in the development of the organizations human resource management policies. The realist theory of codetermination understands co-determination as labour representation. Labour as the most important stakeholder group besides the shareholders should be represented and have a right to participate in the decision making on the level of the second board, i.e. the advisory board in the two-tier-board system (Hanson Song, 2000). Co-determination as representation does not aim at consent about all matters of corporate governance. It is rather geared towards the right to participate and to be included and heard in corporate governance for the sake of workers recognition as well as for the sake of other stakeholders of the firm because workers participation in decision-making enhances the quality of board decisions. If the shareholders prevent the shirking of the employees of the firm according to the theory of the firm introduced by Alchian and Demsetz (1996), codetermination by labour results analogously in the prevention of shirking by shareholders and managers th at causes damage to labour as shirking by employees causes damage to the shareholders. If the shareholders and/or managers do not perform optimally labour will prevent them from shirking, from not making their contractual contributions to the firm. Industrial relations are traditionally better in continental Europe than in the USA which leads to higher work place satisfaction and higher identification with the firm (Becht, Chapelle Renneboog, 2000). These, in turn, cause higher productivity rates. In the last two decades since 1988, the process of the globalization of capital markets seemed to support the shareholder principle, not the participation principle. In the context of globalization As globalization continues to influence the development of the global economy, corporate governance also becomes subjected to standardization based on the successful implementation of strategies by management teams around the world (Hanson Song, 2000). The case of General Motors and Ford presents an excellent example in this regard. General Motors and Ford have produced in Germany in huge production sites for over seventy years and did not find it unprofitable to adjust to codetermination legislation which is about 35 years old in 2008. In the European institutional setting, there is a greater complexity on the second board level that causes certain additional costs. There is, however, also the gain of additional information about the firm and of greater labour alignment with the aims of the firm as a result of labour representation in corporate governance on the level of the second board level. The participation or co-determination principle can increase corporate performance if it is understood as a principle of representation and not as a consensus principle and if it is instituted together with the control principle of hostile takeovers (Hanson Song, 2000). Codetermination as representation of the employees on the board increases the learning capacity of the organization and also fulfils a pacification function in conflict situations within the enterprise as long as the majority vote of the shareholders or owners is safeguarded. The synthesis between the Anglo-American principle of the capital market as the market for corporate control and the German principle of co-determination as employee representation in corporate governance on the second board level is possible, even under conditions of globalization (Becht, Chapelle Renneboog, 2000). The point to which the two systems of corporate governance, the USA and the Continental European, converge to is the strengthening of capital market control of management in Europe and the strengthening of labour repr esentation in corporate governance in the USA. The purpose of the firm Another difference between the Anglo-American and the Continental European theories of corporate governance concerns the idea of the purpose of the firm (Lipton Lorsch, 1992). The purpose of an institutional part or subsystem of a society is the major resource from which ethical analysis and decision-making draws from since the purpose of action is the most important and defining feature of an action. The purpose of any human action is the major criterion for the ethical assessment of an action or institution (Becht, Chapelle Renneboog, 2000). The reason is that the purpose or aim of an action or institution is the central cause of an action or institution and, therefore, the central criterion for its success and value in economic, cultural and ethical respect. Ethics gives the conditions under which value creation must take place as constraining and as enabling conditions (Hanson Song, 2000). Value creation can take place under the neglect of the personal right of the person or of human dignity if the market conditions cause such groups of individuals to have a weak competitive position. If there is an over-supply of labour its competitive position is weak. The law might have to protect human dignity against exploitation and abuse when competition in the market does not preserve the human rights of the market participants (Becht, Chapelle Renneboog, 2000). Situations of prisoners dilemma in which it is advantageous for the individual to behave opportunistically require the affirmation of ethical and legal rules independent of the utility calculus of the acting individual. Loyalty to contracts e.g. is a principle that cannot be derived from individual utility maximization for each act but must be asserted by the individual on its own meri t for ethical reasons (Thompson Wright, 1995). It can only be justified by rule utilitarianism for the general rule and not by act utilitarianism for each single act. This implies that one has the duty to be loyal to a contract even if a more advantageous contract is available instead. The non-conditional hyper-norm of the economy must be distinguished from the second order positive norms of the institutional setting of business. Some of these positive norms are sometimes suggested to be ethical or normal rules of the first order although they are in fact norms or virtues of economic organization that imply some degree of freedom of specification although their organization touches on ethical virtues, or norms of the second order. The European model of the firm emphasizes that the firm is a multi-purpose institution in which shareholder value plays the central but not the only role (Becht RÃ ¶ell, 1999). The Anglo-American model of the firm emphasizes shareholder value as the onl y or last purpose of the firm to which the other (stakeholder) purposes are instrumental or, at least, functional. At this point, the development will go in the direction of the European model since it is more inclusive and interprets the stakeholders to be of more then instrumental value to the firm. The recent global recession has led to the development of a scenario in which it has become imperative for organizations to exercise corporate governance. It therefore comes as no surprise that the last few years have seen a significant increase in the volume of literature on corporate governance. Furthermore, the increasing trends in globalization and the rapid developments in international businesses have placed organizations in a position where it has become crucial for them to revisit their corporate governance methodologies (Becht RÃ ¶ell, 1999). These recent changes in corporate governance, and the processes of globalization that have induced them, are obviously of historic proportion, radically altering as they have economic, political and social structures. The stakes in these reforms are high and they may be literally life and death for the most vulnerable organizations. Conclusion In the literature of corporate governance, there has been an on-going debate about whether financial or banking models are more effective. As noted above, it is currently being argued that the key to effectiveness does not depend upon whether a country adopts one or the other model, but whether it has a well-functioning legal system which allows for the timely enforcement of contracts. If this position is correct, then the ability of developing countries to enforce a model of corporate governance may be ultimately tied to larger questions of democratic political reform a prospect which many critics feel is being undermined by the very forces of globalization promoting an Anglo American model of governance. An important question that the experience of developing countries raises but one which it was not possible to systematically investigate in this issue is whether individual countries acting alone will be able to effectively enforce an Anglo-American model of governance in a globa l economy. The above discussion attempted to present an in depth insight into the differences between the Anglo-American model of corporate governance and the European model of corporate governance. The discussion made it clear that the fundamental distinction between the two models lies in the fact that they are present in differing business contexts (Warner, Watts Wruck, 1988). These contexts are dictated by the shareholder identity, shareholder concentration, stock liquidity and interlocking ownership. It can be observed here that there is a difference between the two approaches in how they address the two issues of ownership and control. The strengthening of labour representation in the American firm can improve the firms ability to discover chances and weaknesses within the organization and to use this knowledge for increased performance. The strengthening of the market for corporate control through a more active capital market in Europe will improve the performance of management. Furthermore, globalization will move corporate governance in the direction of such a synthesis. It is likely that this model will radiate to the global market. The question of whether economies will converge towards a common corporate Anglo-American governance system, or sustain the present diversity of institutions is one of the key issues facing countries in Europe, the Asia Pacific and throughout the rest of the world (Malette Hogler, 1995). Lower economic growth and higher unemployment in Europe compared to the Anglo-American countries since the mid-1990s, undermined some of the confidence in Europes social model (though by 2005 Germany had returned to its former position as the worlds largest exporter). Despite the pressures towards adopting Anglo-Saxon modes of corporate governance, the divergences in both the policy and practice of corporate governance in Europe have thus far resisted any move towards European standards. However with greater market integration and the developing influence of Anglo-American institutional investors, it is possible the market will play a greater role. Yet debates on company law harmonization in the Eur opean Union have been held up by countries not wishing to see elements of their own systems of corporate governance disappear in the process. One explanation for this impasse is the institutional complementarily thesis which justifies the continuing diversity of systems, rejecting the one-best-way strategy adopted by the convergence thesis. Instead a plurality of models is assumed, each corresponding to local circumstances, supported by a cluster of social norms and regulation, enabling balanced economic development. It can also be argued that the Anglo-American models can serve as an effective method for breaking unhealthy state business relationships and imposing more discipline on domestic corporations (Yermack, 1996). The diversity of corporate models is valuable and is rooted in societal characteristics that together shape the competitiveness of the different models. Though shareholder value may be gaining ground due to the influence of Anglo-Saxon institutional investors, a stakeholder approach is closer to the reality of European social democracies, and the outcome of the confrontation between the two competing philosophies is highly uncertain. It is unlikely that imported Anglo-Saxon capital market related features of corporate governance will work well with Continental labor-related aspects of corporate governance as represented in supervisory boards. It is likely any such European compromise would be more unstable than existing systems. The attractiveness of the Anglo-American finance and governance institutions permeated with inequality and subject to recurrent severe market cycles and financial crisis is open to question as a model for universal applicability. Indeed the damaging consequen ces of the 2008 financial crisis will impact severely upon the world economy, and could well dislodge the faith that the market based governance system is the only rational and efficient one for the future. It is more likely that solutions will be found to pressing problems of equity, sustainability and innovation in a diversity of finance and governance systems, responsive to deeper and wider concerns than the self-interest of the executives who control corporations, financial institutions and hedge funds. The paper served to clarify that while the Anglo-American model of corporate governance seeks to implement external discipline methodologies. This entails the concentration of the organizations resources and attention towards elements such as proxy fights in the competitive landscape, handling liability management claims and the sustenance of management reputation. The Anglo-American model of corporate governance is somewhat aggressive and appears to be a model that continuously demands the organization to function as a challenger in the competitive landscape. In comparison, the European model of corporate governance seeks to make use of extensive alignment between the organizations stakeholders. The external methodologies brought into use by the European model of corporate governance tend to increase coordination and communication across the organization in an attempt to streamline the organizations functions in accordance with the organizations objectives. In addition, the European model of corporate governance also seeks to ensure that the organizations objectives are understood and that the management, stakeholders and board of directors are in mutual agreement on the objectives of the organization. The comparison of the two corporate governance models has served to reveal that the Anglo-American model of corporate governance is an aggressive corporate governance model and in order to exercise the Anglo-American model of corporate governance the organization needs to have a strong foundation (Wolfenzon, 1998). This is because of the fact that the Anglo-American model of corporate governance often requires the managers to make decisions that are in favour of their own perspectives and require over-investment. In this case, the managers do not seek the approval of external stakeholders and proceed with the implementation of their decisions. In this regard, the European model of corporate governance comes forth as the preferred corporate governance model. This is because of the fact that the European model of corporate governance gives the organization the margin of deciding on an orientation that is best suited for the competitive landscape in which the organization is functioning (Wolfenzon, 1998). While the Anglo American model of corporate governance demands that the organization plays aggressively continuously, the European model of corporate governance gives the organization the margin it needs to adapt to changing needs. As a result, the organization can choose to function passively and steadily when it chooses; and functions aggressively when it chooses. In essence, the increased communication and coordination between the strategic, operational and tactical elements of the organization allows the organization to ensure that it does not get exposed to any high-risk scenarios. The recommendation of the European model of corporate governance is based on the pretext that recent global economic trends have proved that it is feasible for organizations to adopt an organization that minimizes their exposure to risk. Managerial reputation and status cannot be given importance over the organizations sustained growth because most organizations that have been successful in the last few decades have chosen to follow their expansion strategies with consistency; regardless of the speed at which they grew. While some organizations chose to grow rapidly by intentionally engaging in high-risk investments, others chose to implement the European model of corporate governance by reducing their risk exposure. Organizations such as these proceeded by studying internal and external scenarios closely before finalizing and implementing a strategy. It is because of this reason that such organizations were able to minimize the degree to which they were impacted by the recent global recession. It can be observed that the European model of corporate governance requires the management to engage in a level of coordination that the Anglo-American model of corporate governance does not call for. As a result, the European model of corporate governance places the management in a position where every decision that materializes into action is of a nature such that is supports the organization and is not influenced by a desire to drive up managerial reputation and status. Another key reason because of which the European model of corporate governance is recommended over the Anglo-American model of corporate governance is because the European model of corporate governance satisfies the need for the generation of shareholder profitability. The Anglo-American model of corporate governance does not give primary relevance to shareholder profitability because the authority to make investment decisions is placed and limited in the hands of a few individuals. In comparison to this, the European model of corporate governance places the organization in a position where the generation of shareholder profitability enables the organization to attract more investors. In this regard, it would be just to bring the paper to a concluding note with the statement that the European model of corporate governance accurately reflects emerging corporate trends. The examples and elaborations presented in the above discussion make it clear that the European model of corporate go vernance responds far more adequately to modern day business needs than the Anglo-American model of corporate governance.

For Academic Purpose †Ceo Speech to Prospective Investors Essay

It is my utmost pleasure to be able to welcome you here today in Tek Comfort Zone (ITZ) General Investors and Prospective Investors Quarterly meeting. Tek Comfort Zone is the Caribbean premier producer of ostentatious â€Å"State of the Art Furniture† with electronic built-in and plug-ins accessories that provides superior comfort and quality solutions through custom design, manufacturing, installation and support. Our fast growing clients include Five Stars Hotels, business tycoons, celebrities and a host of others in the SHOW BIZZ. TCZ does not only strive to maintain its leading position as Caribbean â€Å"N ° 1† State of the Art Furniture† Producer, but also to expand in novelty and quality that steers a higher level of customer satisfaction alongside profit maximization. This whole process has involved an integration of mission, objectives, implementation and evaluation; a proper time, cost, quality and human resources management: and a critical maintenance of all forms of motivations. The company is made up of 45 staff members. Briefly, it is headed by a CEO, with two Directors (Director of Production and Director of Budget) answerable to him. They direct the two sectors of the company (Production and Budget). The Budget sector has two managers (Purchase Manager and Sales Manager) answerable to the Director of Budget. Immediately under the Purchase Manager is the Accounting Supervisor, and directly under the Sales Manager is the Sales Supervisor. The Sales Supervisor oversees six employers while the Account Supervisor has five employees under his control. Meanwhile in the Production Sector only one manager (Manufacturing Manager) is answerable to the Director of Productions. Directly under the Manufacturing Manager are the Inventory Supervisor and Operations Supervisor. The Inventory Supervisor oversees 10 employees while the Operations Supervisor supervises 14 employees. This well structured organizational flow is mindful of effective communications, job duplications, conflict and other factors that can affect a team spirit and job dexterity. Dear investors as a result of this strategy, TCZ has grown substantially faster than the global â€Å"State Of The Arts Furniture† market. While the global market as a whole grew just 5%, ours increased by 13%. An important source of revenue, the delivery of unrivalled bed, mattress and electronics charges, increased 18%, although the market saw a 1% decrease. Our pro-forma operating margin improved to 28. 3%, an increase of half a percentage point. We took additional market share away from our direct competitors in the ‘State of Arts Furniture’ market, gaining one percentage point year-on-year, which takes us to a market share of approximately 21%. We thus sell approximately two and a half times more unrivaled electronic beds and, mattress than our nearest competitor, who had been the leading producer for 18 years, before we ever dominated the market Our main competitor is the ABC State of Arts Furniture Ltd. They are the longest in the market and have dominated the premier role for 18 years. They are known for quantity and timely delivery. Unlike our competitors we added other important ingredients such as quality, novelty and frequent customer satisfaction research. This accounted for why we have emerged as the leading company in the market for the past five years. Our few years of existence in the market would have attracted fear and false judgements from prospective investors against our maturity, stability and long-term success and survival. Without any doubt I can assure you that we are on the right path. How? Before our company could even kick off, we had carefully learned from the errors of others who have been in business many years before us. We carefully analysed their strengths and weaknesses. For example we learned never to preach what we cannot live by (meaning our quality must match our propaganda). This is the root of loss of public confidence. We also learned that a strategy should not be considered only because of its promises in the short-term goals, but also because of its sustainability and expansions in the long-term. Importantly, we quickly learned the art of satisfying the consumer with quality and quantity goods and services with a maximisation of profit. And finally we also learned to provide investors with a consistent report of accountability and transparency on every level of attainment of the business. This gives our investors a true sense of ownership in the business. Dear prospective investor, without your investment, ICZ would have just been another brilliant idea. Your choice to invest in into this company is what has made the idea a reality. We not encourage you to maintain your investments, but also to expand them. To our prospective investors, TCZ is the fertile ground for your investment. Grab this opportunity heartily. Your fears should not ponder about the success of the company. Rather the fear should be whether the investment recruiting conditions presently would be stricter since many investors show interest to our company’s philosophy and operations. The investors screening process may become more critical as many investors would Finally to the entire TCZ, may we together applaud our selfless and one-minded efforts that have brought us thus far.

Counselor Interviews

Ethics in the field of marital and family psychology is a very sensitive subject to both the clientele treated and the counselors. The issue of ethics as it pertains to marital and family counseling can create barriers and obstacles preventing clients from being able to fully trust the counselor.Other ethical concerns vary from whether or not to inform a parent of their child’s admitted illegal drug use to that of having a client who divulges having a life-threatening sexually transmitted disease but does not wish to have their spouse informed. Different accredited psychiatric associations have developed and implemented a defined code of ethics upon which each participating member is responsible in upholding (ACA, 2005; Leong, 2008)). Education and training for licensed counselors serve as a platform to provide answers to ethical dilemmas, however; it is up to the individual counselor as to how he or she chooses to respond.Chase and Gina provide marital and family counseling t o a variety of individuals. Chase works for a private mental health group and has been practicing for the last eight years. Gina is a licensed counselor working for a public mental health services organization. She has been employed at the same office for the last fourteen years. As professional counselors, both Chase and Gina indicate that the defined code of ethics outlined by the American Counseling Association (ACA) serves as a major tool of ethical reference (personal communication, May 18, 2010; ACA, 2005).Ethical Dilemmas I. Chase He was providing marital counseling for a very troubled couple (personal communication, May 18, 2010). The couple had entered into marital counseling because of issues of trust, mistrust, and possible infidelity. The wife was asserting that her husband had PSYCHOLOGY 3 been unfaithful. One evening after work, Chase stopped by the local grocery store. After pulling in he noticed a couple engaged in a very passionate kiss.Much to his surprise, he disc overed that the female involved in the kiss was in fact the accusing wife whom he was currently counseling. She immediately disengaged from kissing her male companion after she recognized her counselor. At the next counseling session, the married couple indicated that the wife had admitted to her infidelities. The husband asserted that he had already filed for divorce, but he wanted to inform the counselor in person and request that his counseling continue on an individual basis. The wife asserted that she, too, wished to continue with individual therapy.As a result, Chase declined to provide the requested individual therapy, but did provide them each with referrals. His decision to do so was based on the probability of being called as a potential witness in the pending divorce proceedings (Hecker & Wetchler, 2003). II. Gina A memorable case of ethics for Gina involved a mother and her three teenage children. The family had been referred for services via the local family court follo wing a very difficult divorce and custody battle in which the husband, and father to the children, had just left.The mother had been diagnosed with Bipolar I over three years ago, but she had great difficulty in getting her manic episodes under control. As a result, her children had to be placed into foster care in order to protect their safety and well-being. After much therapy and many medication changes, the mother was deemed well enough to be a fit parent and was awarded custody. At a family session, the counselor noticed that the mother was acting out of sorts. She was extremely talkative but was not making much sense.She rambled from one subject to the next and was unable to sit down, all the while walking and pacing around the room. The counselor excused PSYCHOLOGY 4 herself from the room citing that she had to check on something, and she went and retrieved one of her supervising colleagues. He re-entered the session and was properly introduced. Gina felt it best if the child ren were not present at this particular juncture, so she invited the children to wait in an adjoining office where they could watch television.The oldest child indicated that his mom was doing it again; referencing the manic episode. Gina and her supervisor asked the mother if she was still taking her medications. The mother responded that she had discontinued her medications because they made her feel too tired and too groggy which interfered with her being able to take care of her children. The mother then questioned the counselors as to why there were so many bugs crawling on the walls. Gina then asked the mother if she would be willing to go to the hospital for a day or two in order to get her medications regulated. The mother refused.Gina chose to have the mother involuntarily committed as her mania and delusions provided that she could be of harm not only to herself but to her minor children as well (Corey, Corey, & Callanan, 2007). While issues involving ethics often seems to center around the function and professional abilities of the counselor, they also come from the client (Pope & Vasquez, 2007). Some clients are very concerned over the issues of confidentiality. This can lead both the counselor and the client to a dead end if the client does not trust the counselor enough to support his or her privacy.Some clients will test the ethical boundaries of the counselor as a means for determining the level of trust to be bestowed on the counselor. This is especially true in the ethical dilemma faced by Chase. In Gina’s case, she was faced with the issue of protecting the physical and mental well-being of her clients, the entire family. Involuntary commitment is usually a last PSYCHOLOGY 5 resort for counselors who are trying to help their clients.In rare instances, some clients will hinder the counselor with unwelcomed sexual advances. Counselors like Gina and Chase received much training from their respected secondary educational institutions of l earning. This training and education was furthered during their graduate studies. Both counselors, however, explain that face-to-face experience is sometimes the best educator. It has been suggested that when an ethical dilemma is difficult to resolve, the best and most absolute measure to take is to consult with a supervising colleague.Other professional colleagues in the field may have already encountered a similar situation or know of someone that was involved in a similar dilemma (Kottler & Shepard, 2007). Ethical dilemmas will continue to plague and confuse psychiatric professionals. Clients will invariably continue raising ethical questions whether deliberately or unknowingly. Organizations like the American Counseling Association have attempted to define and outline a specific list of possible problems with possible solutions.Experience combined with education and training offer recourse to counselors whose dilemma may be more difficult to resolve than referring to the curren tly endorsed code of ethics. In the meantime, counselors will dutifully stand by their clientele and support their mental well-being, which is ultimately the most important ethic of all. References American Counseling Association (ACA). (2005). Ethics. Retrieved from http://www. counseling. org/Resources/CodeOfEthics/TP/Home/CT2. aspx Corey, G. , Corey, M. , & Callanan, P. (2007).Issues and ethics in the helping profession (7th ed. ). Belmont, CA: Cengage Learning. Hecker, L. , & Wetchler, J. (2003). An introduction to marriage and family therapy. Binghamton, NY: Haworth Clinical Practice Press. Kottler, J. , & Shepard, D. (2007). Introduction to counseling: voices from the field (6th ed. ). Belmont, CA: Cengage Learning. Leong, F. (2008). Encyclopedia of counseling. Thousand Oaks, CA: SAGE Publications, Inc. Pope, K. , & Vasquez, M. (2007). Ethics in psychotherapy and counseling: a practical guide (3rd ed. ). San Francisco, CA: Jossey-Bass.