Thursday, January 30, 2020

Assessing the Essence of Teh Eclectic Paradigm Essay Example for Free

Assessing the Essence of Teh Eclectic Paradigm Essay Aspects frequently highlighted include global media and telecommunications, global brands, worldwide production and integrated financial markets. At the forefront of these phenomena are Multi National Enterprises (MNEs), benefiting from the opening of markets across the globe, and from advances in computing and internet technology, which make it possible to link far-flung activities in global networks. Considering these elements, globalization can further be defined as the process of increasing and deepening interactions between individuals and organizations across the globe, facilitated by advancing communications technology and the opening of markets to trade and investment. Theories of International production have attempted to explain the convergence towards a globalised world, while addressing the different types of international expansions. These theories have focused on MNEs and Foreign Direct Investment (FDIs). FDI can be defined as investment by an organization in a business in another country, with a view to establishing production in the host country. While Raymon Vernon is known for his theory of Product life cycle, Stephen Hymer laid emphasis on the location and ownership advantages of countries, which helped in attracting FDI from MNEs. John Dunning incorporated Internalisation to the analysis of Hymer, which became known as the Eclectic Paradigm (or OLI Paradigm), one of the most comprehensive theoretical explanations with specific focus on FDI. Still the Eclectic Paradigm is being challenged in the modern globalised world, as it fails to take into account the implications of existing modes of entry of MNEs, as well as the advantages of Alliance Capitalism. It is being discussed further in this report. Theories of International production have greatly facilitated the understanding of the globalization phenomenon. Different theorists at different time intervals attempted to justify the expansion of MNEs across the globe. Hymer (1970) was the first one to propose that MNEs are institutions of international production rather than international capital movement. Still he ignored the natural imperfections attributed to transaction costs in an imperfect market. In today’s world, with the proliferation on Internet use, imperfections like bureaucratic hurdles and control of distribution systems (Bain, 1956) are absent. Even the imperfections like price determinism and information transfer are shrinking. Thus it can be argued that Hymer’s major contribution relating to the importance of structural market imperfection in determining FDI activity does not hold good for corporations, which are expanding globally through e-channels (for instance). Vernon (1966) came up with the International Product Life Cycle (IPLC) theory, which explained the locational dimension of FDI. According to him, production first starts in the home country fro local markets, and exporting is used to attain foreign markets. As the product matures and production is standardized, production moves to less developed countries to reduce labour costs. The basic assumption of the IPLC is that knowledge is not equally and universally distributed (Vernon, 1966). This assumption, however, is not applicable in today’s world, as Vernon (1979) himself admits that there is a more perfect distribution of knowledge across the globe. He argues that firms who are global scanners follow a different trend than that of the IPL approach, because such firms have the ability to effectively scan global markets for the best factor endowments. Though, a lot has been discussed and said on the theories of International production, yet none of the approaches (Hymer, Vernon, Barney) simultaneously explains the importance of resources heterogeneity, entrepreneurial competence, network governance and the rise of alliance capitalism. Thus, an overarching analytical framework is needed, that can synthesize these disparate views and account for the importance of location- based advantages and ownership advantages. Such a framework was developed by Dunning (1973; 1988; 1993) known as The Eclectic Paradigm. It is a framework that explains the growth of MNEs by bringing together disparate theories. According to Dunning, the Eclectic Paradigm is less of an alternative theory of International production and more of a framework that synthesizes the essential and common characteristics of each main theoretical explanation on the growth of MNEs. For more than two decades the Eclectic Paradigm (EP) remains a widely used general framework for studying the growth of MNCs and Dunning has also continuously revised and extended the EP to explain changing facets of MNCs. Dunning (1988) has re-stated that the EP is robust and general enough to incorporate future developments like renewed the focus on entrepreneurship and the emergence of global networks (Dunning, 1995). The Eclectic Paradigm explains that the Foreign Direct Investment (FDI) and growth of multinational corporations (MNCs) is linked to the extent and nature of ownership-specific advantages of the firm, the extent and nature of location bound endowments, and the extent to which markets for these advantages are best internalized by the from itself. In short, it is the configuration of these Ownership (O), Location (L) and Internalization (I) advantages that determines a firm’s international production and growth. In a somewhat updated version, Dunning (1988) describes the three essential factors for international expansion: * Ownership Advantages are unique competitive or monopolistic advantages, typically developed in the home market, that permit the firm to compete successfully in overseas markets. These factors are of two types: Asset Advantages arise from proprietary ownership of unique assets protected by structural market distortions, and Transactional advantages provide a unique capacity to capture value from the transaction benefits of owning a network of assets located in different countries. * Location factors, tied to the local foreign market, which make production in the host country preferable. These are immobile factors, such as cheaper labour, high shipping costs, local image or trade barriers, that can be combined with transferable intermediate ownership assets to generate superior products. Internalisation factors, typically related to the industry, produce transactional market failure in transferring ownership advantages to foreign markets. This also explains the naming of the EP as the OLI configuration as well. The eclectic model, then, pulled together the key elements of neo-classical theory – location, industrial organisation theory – monopolis tic advantage and internalization theory – transactional efficiency. It used this eclectic mix to produce an internally consistent, compelling and testable model of the multinational firm and its strategic processes.

Wednesday, January 22, 2020

Free Trade Agreement and Its Affect on Canadian Business Essay

Free Trade Agreement and Its Affect on Canadian Business With the coming of the Free Trade Agreement (FTA) there have been very serious implications for Canadian business and for that matter, Canada as a whole. Many aspects of the previous economic climate have changed such as the reduction or eliminatation of tariffs and the restrictions on subsidies to name only a few. There has been much heated debate on the pros and cons of this deal: whether Canada will prosper or become the 51st. American state. This paper will not take this approach to the issue of whether or not it is a wise agreement, but will look at what business can do to better itself with the existing FTA. If Canadian business is to survive and prosper in this radically changed North American and Global atmosphere of easier trading, then it must adapt. Some of the main areas that will have to be addressed is the need for more productive and efficient operations, a new focus by business on the new trading reality, and a change in policies by Government to enable Canada to function better with the FTA. The FTA stands to alter Canadian business which has grown rather relaxed and inefficient behind walls of tarrifs. While these may have initially spurred industry, they have after time encouraged complacency. With these rapidly disappearing walls, business will have to become "lean and mean" in order to compete in a very competitive global market. Looking at the present state of affairs our status in research and development (R&D), labour costs and expansion, there is much that must be done. Compared to the other industrialized western nations we lag far behind in nearly all areas. Take for example R&D. In 1990 Canada spe... ... Cameron, Duncan. The Free Trade Papers. James Lorimor & Company, Publishers, Toronto, 1986 The Canada and US FTA (Complete Doccument), External affairs Canada, Ottawa Laxer, James. Leap of Faith: Free Rade and the Future of Canada. Hurtig Publishers, Edmonton, 1986 The Case Against the Critics of Free Trade. John Miora. Finanical Post, Feb. 8, 1986 Brave New World. Marc Tait. Maclean's, Jan. 9, 1989 Firms going continental. Jennifer Sachsa. Globe and Mail, June 12, 1990 Roundtable: The Canada-US FTA. Fred Swift. Globe and Mail. August 12, 1988 End Notes 1 Firms going continental. Jennifer Sachsa. Globe and Mail, June 12, 1990 2 Brave New World. Marc Tait. Maclean's, Jan. 9, 1989 3 Firms going continental. Jenniger Sachsa. Globe and Mail, June 12, 1990 4 Roundtable: The Canada-US FTA. Fred Swift. Globe and Mail. August 12, 1988

Tuesday, January 14, 2020

Dress for Success Essay

Abstract We’ve all heard the saying â€Å"Dress for Success,† and I believe this saying holds a very valuable meaning in any profession. The way you dress not only affects your confidence and your self-esteem, but it also casts the first impression you are giving to your fellow colleagues and/or prospective employers. What you wear will portray a visual communication of what you have to offer and what they can expect from you in the work field. The primary goal of dressing professional is to feel good about yourself and to project a positive image. Your non-verbal communication is just as important as your verbal communication in any situation. Of course your skills and knowledge are an important factor, but don’t forget to dress the part and rule out any possibilities why people will doubt your abilities to perform. We’d like to think that we live in a world where people don’t judge us by the clothes we wear, but the truth is appearance does matter and the first impressions we portray reflect how we are initially judged by others. . When you dress for success people will take you more seriously and take what you have to say into consideration. Appropriate attire in the workplace gives you respect, and a professional image that will give your superior, colleagues, and patients trust and confidence in your abilities. There has been a lot of research that has proven that employers will likely hire a potential employee who dress and look the part. How you dress sends out many signals, one being an effective leader. When you take the extra step to make sure your clothes are ironed, and your physical attire is up to par, people will recognize that and follow your lead. In my opinion, people today underestimate the importance of a professional image. Many workplaces have a â€Å"casual attire† policy and people would rather blend in with the crowd then stand out and make their own personal impression. Looking for a job in the medical field is very competitive, and although your resume may be one of the most outstanding and qualified, how you look will sum up the final judgment. When potential employers look through tons and tons of paperwork day in and day out, everything starts to look the same, so when you come in for an interview you should try to stand  out and show them that you care about your image and how they perceived you. How you look will put a face to the resume and help you stand out from the other competitors. Ever since we were young, we were taught to never judge a book by its cover, and what really matter is what’s on the inside. Although the topic of how you look and what you wear may sound superficial, you have to look at yourself as a brand. Many companies today spend millions of dollars trying to upgrade and renew their visual image. Making sure how they look as a company and how their brand look will attract the new generations. So, it only makes sense that if a company cares so much of their image, they will also care about how their employees look and carry their name to the outside world. This theory goes hand in hand, if a company cares about how their employees look, the employees themselves should take the initiative and care about their professional image. When we purchase stuff from the store, what initially attracts is that packaging, before we judge the product by its performance. When you look good, you feel good, and ultimately that is all that matters in the end. When a person feels confident there is not stopping them from achieving he/she goals. Interviews are not intended to be a fashion show or beauty contest, but how you look and how you present yourself will always receive a positive reaction from the interviewer. By maintaining a professional image it can help you achieve the career you deserve.

Sunday, January 5, 2020

Erikson s Theory Of Psychosocial Development Essay

Growing up experiencing his own identity crisis and misfortunes during his childhood, Erik Homberger Erikson, a well-known psychologist, used this as an inspiration to further one’s understanding of a healthy personality and sense of self. This gave rise to his successful establishment of the theory of Psychosocial Development. Although derived from Sigmund Freud’s theory of Psychosexual Development, Erickson believed that a person’s social experiences cause a great impact on their sense of identity throughout their entire lifespan in eight different stages of development, as opposed to the five stages Freud assumed ended when a person reaches early adulthood (Cherry. 2016). Erickson theorized that a person’s ability to successfully complete a stage of development, regardless of their developmental challenges, directly affected the outcome of a healthy or unhealthy personality and sense of self. In his attempt to exceed further in understanding how a perso n’s social environment affects their personality and identity, Erikson’s findings became great contributions to the study of psychology. On June 15, 1902, Erikson was born in Frankfurt, Germany, to Karla Abrahamsen, a Jewish stockbroker, as Erik Salomonsen at birth (GoodTherapy. 2007-16). His mother married his pediatrician, Theodor Homberger, in 1905, when Erickson was about three years old (The Famous People. 2007). His last name was changed to Homberger, when his step father officially adopted him in 1911, and itShow MoreRelatedErikson s Psychosocial Theory And Psychosocial Development1561 Words   |  7 PagesTheories and Theorists Theories are the building blocks of psychology. Theories whether old or new has allowed us to know what we know now. There are many theories in the field of psychology or educational psychology that are important to further understand human behavior. However, this paper will focus on only two theories which are; Erikson’s psychosocial theory and Alfred Adler’s Adlerian theory. Erik Erikson’s psychosocial development has always been a great contribution to the field of psychologyRead MoreErikson s Theory Of Psychosocial Development Essay2534 Words   |  11 PagesErik Erikson is a developmental psychologist that was prominent in 1963 who provided a framework that is used as a basis of understanding adolescent mind’s journey through psychosocial development. Erikson’s theory of psychosocial development is rooted in a belief that social aspects of development hold a greater importance than the physical and biological. Erikson didn’t see an endpoint in his theory, as throughout life a person keeps developing. As such Erikson’s theory has a total of 8 stagesRead MoreErikson s Psychosocial Development Theory Essay1622 Words   |  7 Pagesas well as being looked at through different developmental theories. Many pages in the Individuals and Families, Diverse Perspectives (Holloway, Holloway Witte, 2010) will be used to help relate the primary research to the secondary research of this project. The ways of socializing children will be mentioned as well as the concept of teaching morals and values to children and how it can be explained through different developmental theories. Teaching morals and values to children can be explainedRead MoreErikson s Theory Of Psychosocial Development Essay1691 Words   |  7 PagesPsychosocial Development â€Å"Erik Erickson (1902-1994) was best known for his work on stages of psychosocial development and identity crisis† (Cherry, A Brief Biography of His Remarkable Life, 2016). Erickson was able to gain a clear focus on children and was able to interpret what he was seeing by observing children throughout the life, including events of childhood, adulthood, and old age. Erikson s theory posits that every human being passes through several distinct and qualitatively differentRead MoreErik Erikson s Theory Of Psychosocial Development Essay1177 Words   |  5 Pages Erik Erikson was born in Greman in 1902-1994, American psychoanalyst; known for psychosocial theory of emotional development of human beings. His theory looks at the impact of parents and society on personality development from childhood to adulthood. Erikson believes, each person has to pass through a series of eight stages over there entire life cycle. I will look at the first 3 stages that cover the childhood years. There are set of conflict at each stage, which allows individual to developRead MoreErik Erikson s Theory Of Psychosocial Development884 Words   |  4 PagesErik Erikson Erik Erikson was born June 15, 1902. Erikson is best-known for his famous theory of psychosocial development and the concept of the identity crisis. His theories marked an important shift in thinking on personality; instead of focusing simply on early childhood event, his psychosocial theory looked at how social influences contribute to personality throughout the entire lifespan. Erik Erikson died May 12, 1994 due to prostate cancer. (Erik Erikson, 2015). Stages of Psychosocial DevelopmentRead MoreErik Erikson s Theory Of Psychosocial Development1445 Words   |  6 PagesErik Erikson was an ego psychologists who developed one of the utmost popular and prominent theories of development. While Erikson’s theory was influenced by psychoanalyst Sigmund Freud s work, Erikson s theory centered on psychosocial development rather than psychosexual development. Erik Erikson s theory of psychosocial development is one of the best-known theories of personality in psychology. Much like Sigmund Freud, Erikson believed that personality develops in a series of stages. UnlikeRead MoreErik Erikson s Psychosocial Development Theory1518 Words   |  7 PagesABSTRACT This research paper will show a thorough review of Erik Erikson s Psychosocial Development Theory, specifically the transition from adolescence to adulthood. Psychosocial Development, according to Erik Erikson, is a continuity of crisis throughout our lifespan; these challenges will shape our personality and the way we perceive our surroundings. In addition to this, the different stages mentioned in this Theory complement each other and help us to develop the tools to achieve a sense ofRead MoreErik Erikson s Theory Of Psychosocial Development Essay1366 Words   |  6 PagesAbstract Erik Erikson (1902-1994) provided a new perspective of psychosocial behavior and development while expanding on the works of other theorists. Erikson believed there to be eight stages of psychosocial development which a person transitions through. These stages start at birth and end with old age/death. Erikson’s work is used throughout many outlets of social work. Social workers use this information to help them figure out what is going on with clients and how best to help them. Erikson providesRead MoreErik Erikson s Theory Of Psychosocial Development1818 Words   |  8 Pagesinfluential theories in developmental psychology, which is Erik Erikson’s theory of psychosocial development. It is a very interesting theory, and although it was influenced by Sigmund Freud, it centers more on the social component rather than the psychosexual stand of Freud. According to Erikson, our personal development occurs as we interact daily with others and have new experiences that shape us throughout our lives. This paper will review the eight stages of the psychosocial theory: 1. Trust