My Kind of Love Paragraph for Changing Self Essay free essay sample

Change is a constant in everyone’s lives; it’s the thing that remains while everything else transforms. In my related material of the song ‘My kind of Love’ written by Emeli Sande demonstrates just how true that statement is. In the video, Emeli visits a sick friend in the hospital, and decides to take her out to town to boost her morale, if not her health. The concept of the song was inspired by the period of time Sande was a med student. One of the things that inspired her was the patients and the interaction that they had with there loved ones during their time of illness. Because when people arrived at the hospital, money and status became irrelevant and only health mattered, which sparks an honesty between people and that’s the type of love she’s singing about. The music devices in this production are phenomenal doing everything in their power to make the listener feel. We will write a custom essay sample on My Kind of Love Paragraph for Changing Self Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A smart choice was the key she wrote the song in, she used the F minor scale, which is a scale known for passion, its key signature has 4 flats in it giving the scale an emotional edge therefore giving the song an emotional edge. In the first verse, she starts with a progressing dynamic with the piano alone and her vocals; â€Å"Sometimes the truth wont make you happy,† which is immediately making you fell the sadness of that statement. Then as the dynamic slowly builds she states â€Å"But don’t ever question that my heart beats only for,† which shows her giving her power away to then lead up to the texture of layers of instruments increasing and developing the strong and powerful chorus where she sings â€Å"Cause when you’ve given up. When no matter what you do it’s never good enough†¦Ã¢â‚¬  and the tone of her voice that she sings it in is almost a whine for the purpose of creating a more heartfelt sound. The lyrics of the chorus are gorgeous because they truly present the hurt and pain of her experience â€Å"†¦When you never thought that it could ever get this tough. That’s when you feel my kind of love. † These lyrics and the melody in which they are sung; plus the 5 other harmonies underneath her vocal, immediately pluck the strings of your heart. Like in â€Å"The Glass Jar† the writer is trying to demonstrate how you need to take a walk in their shoes for a day or a night in the persona of â€Å"The Glass Jar† and then you’ll know how they feel and how they experience things. Self change plays a huge part of this song, because she’s saying even when you have given up, and when your kind of love no one else can experience, to still stand tall and move forward she’s proving to herself how strong she is and how much she can handle even when she has given up. So its change in her inner self to take that step forward while the things around her collapse and transform. Yet, her heart still beats for the person she cares so much about and that’s how she expresses her kind of love.

Social computing in global businesses

Social computing in global businesses Introduction Human beings have always lived in groups and societies from the beginning of their existence on the planet. Being in groups and congregations fulfilled many basic human needs, such as, safety, cooperation in getting food, water or shelter. The presence of societies and groups also helped in getting approval from others. Humans like to interact with one another and be heard, accepted and followed.Advertising We will write a custom essay sample on Social computing in global businesses specifically for you for only $16.05 $11/page Learn More This human tendency and need for belonging to groups is what ignited the spark of social computing; the phenomenon will be the focus of this white paper. The establishment of societies, groups and interactions that connect many people online is just an imitation of human behaviour in the real world. The difference is that social computing uses IT and the internet as the main medium of communication rather than face-to-face communication used in real life. During the course of this paper we will try to cover some information about social computing. We will discuss its meaning and definition; then we will briefly talk about its history and how it came to existence in its modern form. The different types of social computing applications and mediums will be mentioned and how they are used to create and promote interactions between people. The use of social computing for businesses takes a different path than the one used for personal interactions. For organisations to utilise social computing, they have to know the benefits they can gain from using such a powerful tool. The different benefits companies can get from using social computing will also be discussed. This will illustrate to the reader that it is not just individuals who can benefit from social computing, but businesses can also gain enormously from such tools. In order to show how some global businesses have used social computing, we will also include some examples of companies that are actively using social computing to improve their business practices. Focus will also be given to their communication strategies with all members of their value chain. Additionally, since we know that our audience is in the U.A.E., we will discuss how organisations and businesses in the United Arab Emirates can use the power of social computing to improve their profitability and their relationships with customers, suppliers, staff and all the other entities that they deal with. Definition of social computing Social computing started during the 1960’s with the recognition of the idea that computers are used for communication and not just for computation (McDonald 12). Social computing can be defined as â€Å"the shared and interactive aspect of online behaviour† (Rouse 30). Some of the major elements of social computing include blogs, wikis, instant messaging, Twitter, social networking, RSS, and social bookmarking sites (Rouse 9).Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Social computing is the practice of expanding the contacts of our business and/or social relations through creating connections with individuals. The supreme potential of the Internet promotes social computing through web-based groups created for that purpose. Social computing creates interconnected Internet communities that help persons to make contacts. Web sites dedicated to social computing are many, such as, Friendster, Linkedin, Spoke, and Tribe Networks, IBM and Microsoft. Social computing is a collection of technologies driving a remarkable evolution of the Web in growth and investment. Social computing is based on digital systems that support online social interaction. Social interactions can occur through email, sharing photos, and instant messaging. Such interactions are typically social for the reason that they are mainly about communicating with people. Also, there are other kinds of online social activities such as creating a web page, offering something on eBayâ„ ¢, following others on Twitterâ„ ¢, and editing in Wikipedia. These activities involve people that one may not know. Social computing is about how digital systems support social interactions. It engages people by providing communication mechanisms for interactions, chatting, sharing information, processing and displaying traces of online interfaces (McDonald 15). History of Social Computing Social computing has been around for quite some time. Some people may say that it dates back to the 1960s. At that time, scientists and experts in IT started to realise that computers can be used for communication as well as computation. In 1961 Simon Ramo discussed the possibility of many people being connected together through the use of computers. He said it is a degree of citizen participation unthinkable today. (Ramo 1) In 1968 a book written by Licklider and Taylor called The Computer as a Communication Device was published. The book spoke about the emergence of interactive communities that joined people from different geographical areas together. They had common interests and were using IT systems as their main method of communicating. Even though the discussion about using computer systems to connect people started in the early 1960s, it wasnt until the 1970s that computer-based communication had started. The earliest systems that utilized computers in communication between people included Emissary and Eis systems. They were used for what experts called computer conferencing. Furthermore, in the 1970s the University of Illinois introduced PLATO Notes. Mailing lists were introduced for the first time ever on ARPANET (Advanced Research Projects Agency Network). (Licklider and Taylor 2).Advertising We will write a custom essay sample on Social computing in global businesses specifically for you for only $16.05 $11/page Learn More After these programs opened the door, the 1980s saw an increase of IT systems that used computers to connect people. Social interactions through online text conversations increased, and bulletin boards emerged. Also the 80s saw the introduction of Internet Relay Chat and USENET. USENET was started as an online community that users could utilise to communicate with each other. They could discuss different issues of mutual concern through posts and threads on topics. Another way of using computers for communication in the 1980s was bulletin boards. They mimicked traditional bulletin boards used by people to post topics or issues of interest to different members of society. In the 1990s advances continued in IT infrastructure, and so did developments in communication technology. The introduction of the web in the 90s helped to advance social computing greatly. It caused a revolution by increasing connection speeds and bandwidth s. Nonetheless, when the web first started, social interactions and communication between people were limited to content that people used to upload on webpages. Most of them shared links with other users; this is quite different from the social computing that exists today. Webpage uploads were the beginning of dramatic changes in the way people interacted with each other over extended geographical areas. Little regard would be given to distance or natural barriers in this platform. The internet actually made the idea of social computing in its current sense a reality. People didn’t have to be on the same local network or in the same area in order to interact and communicate with each other. In the late 1990s and the beginning of the 21st century, IT systems became more capable of facilitating communication between people and entities in a way that used computational power. Not only did this allow people to interact directly with each other, but it also fed results back into t he system in a way that enriched social interactions. The systems became more tailor-made for individual users. An example of this application is feedback or suggestions that one gets when using search engines like Google, YouTube, Amazon or EBay. Nowadays social computing applications and functions are an essential part of almost any website. Businesses have recognized the importance of such applications and are using them very heavily to increase interactions with customers, suppliers and other members of the value chain. This increased dependency on social computing is causing these websites and applications to become an integral part of people’s daily lives.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Types of social computing applications One of the types of social computing applications that create the aboves of successful use of social computing As discussed earlier, social computing leads to staff improvement. A company that demonstrated these abilities was IPC Inc. It is a healthcare institution that used social software to harness distributed knowledge. Physicians in this company faced daily challenges that were new to them. Many of these professionals used social software to contact other physicians. Through this avenue, they could converse about clinical matters or patient challenges. Their version of social software provided them with access to about 1000 doctors in real time. If a physician had to make a critical decision about a certain patient, and was uncertain about it, all he had to do was communicate with the other physicians. The hospital improved its response times as well as its quality of care. Besides, it led to greater physician satisfaction because doctors were not working alone (Miller et al. 19). Some companies embrace social software in order to increase business performance or boost financial revenue. One organisation that enjoyed this reward was OSIsoft. The company identified a challenge that social networking could solve; poor problem resolution. Prior to implementation of enterprise social computing, the customer support department was unable to respond quickly and accurately to customer inquiries. This minimised customer satisfaction and hence business outcomes. After the adoption of social software, OSIsoft easily accessed experts based on relevant topics. Customer support staff could also engage in ongoing discussions with engineers about technical issues that customers needed to know. All learning was documented through wiki articles. Some of the information came from call logs while others stemmed from experts. Employees took on the responsibility of creating knowledge as it was not just a duty assigned to a small team. I n the end, problem resolution improved dramatically. Customers were satisfied and this increased the amount of business they brought to the company. OSIsoft reaped tangible financial results because of social media use (Miller et al. 27). Most firms utilise social computing in order to boost their marketing strategies. In fact, when one talks about social technology, most people will automatically think about Twitter and Facebook. While consumer driven applications are vital in organisations, deeper analyses of collaborative tools need to be done (O’Driscoll 29). However, it is still necessary to look at case studies of companies that harnessed these consumer-driven technologies. One company that demonstrated the power of social networking in marketing was Toyota. In 2010, the company had quality control issues with their automobiles. They needed to recall a vast number of units, and this took a toll on their brand image. The company decided to target social networking websit e users in order to minimise this damage. At any one time, there were almost a dozen Toyota employees monitoring Facebook and other social networking websites for commentaries about the company. The workers would respond to complaints and comments as soon as they arose thus ensuring that Toyota would not fall prey to negative publicity. After about 6 months, not only had the firm managed to salvage its reputation, but it expanded its Facebook fan base by about ten percent (Messinger et al. 190). Therefore, social computing allows companies to target consumers directly concerning various aspects of marketing, such as, branding. Educational institutions have also used social computing to improve marketing performance. One such entity was Phoenix University. It has several online programs that it offers students all around the world. In order to enhance their experience, the institution created documentaries that talk about the institutional rules and regulations. Furthermore, the firm needed to reach a vast pool of potential clients. It did this by publishing reviews and video testimonials on YouTube. These allowed interested individuals to access information at their fingertips. Furthermore, it placed the firm at the top of search results about online tertiary institutions (Messinger et al. 220). Retail organisations can also use social computing in order to learn about and meet client needs. Best Buy is an example of a company that successfully did this. It asked Facebook members about their best vampire movies. The company acted on those responses by placing all the popular ones on sale. As such, Best Buy demonstrated that social computing can be a low-cost strategy of getting feedback from customers. This enables firms to meet their needs directly and more effectively. Aside from the marketing function, some firms have used social computing in order to facilitate communication. As Peter Kim explains in a YouTube video on the power of people, a certain restau rant in Texas utilised its Facebook page as a platform for strengthening its ties with staff members. The area in which the restaurant was located was burnt by a huge fire. Many of the company’s employees lost their belongings and homes as a result. Employees used the restaurant’s Facebook page to air out their grievances. It was a place where they could get solace from colleagues. The organisation leveraged on social computing to enhance its business-to-employee relationship (Kim). How to use social computing to improve business practices in UAE Social computing can revolutionise the way companies carry out businesses in the UAE. It is not enough for companies to use social media in order to market new products or reach new clientele; firms need to create sustained value through this phenomenon. UAE companies need to use social computing to develop their business in all realms; that is, in supplies, human resources, operations, marketing and public relations (Dachis G roup 5). Firms in this country need to apply the concept when dealing with collaboration between two or more employees. They should also embrace it when optimising their supply chains. Social computing can also lead to better business to customer engagement. The phenomenon can contribute to organisational strategy in the area of connections, analytics, culture and even content exchanges. Companies in the UAE need to realise that social computing will cause them to harness market trends that can drive their business models into the future (Parameswaran Whinston 765). Employees and consumers have altered their power over brands as well as IT processes. Workers are using social computing to get past the chain of command inherent in previous technological tools or processes. Customers are taking control of how their brands are perceived, so organisations in the UAE need to embrace this business-transforming idea (IBM 8). In order to understand how social computing will gain relevance i n the UAE business climate, firms need to demonstrate certain features after its adoption. Social business can assist firms in becoming engaged. They will become deeply connected to employees, partners, and most importantly, customers. As a result, most of these organisations will become more efficient and productive. Social computing will also increase transparency in an organisation by elimination of boundaries that may exist in a company. Sometimes these boundaries can prevent a business from sharing information or utilising certain assets. Lack of transparency may also minimise access to experts, social computing would eradicate that problem. Social business would also improve business practices in the UAE by eliminating boundaries in the above mentioned areas. Companies will also increase their rates of doing business if they take on social computing. They can anticipate problems and address them early on. Firms can also harness new opportunities that will give them an edge ove r their competitors (Schwartz 1). Social computing enables businesses to capture knowledge, and hence boost their financial outcomes. For UAE organisations to compete favourably, they need to harness as much information as possible. However, the business climate in the country has changed; a lot of companies exist and transactions take place virtually. This calls for a different approach to harnessing knowledge from stakeholders in order to boost a company’s competiveness (Schwartz 1). Social computing can improve communication within UAE organisations and outside. Companies can reach their customers, suppliers and partners in real time in order to have conversations with them. Workers can share ideas and insights about certain challenges and thus boost organisational outcomes. Furthermore, the phenomenon will also assist UAE firms in improving staff performance. First organisations can attract appropriate talent through collaborative media. They can also retain talent by all owing their staff to mix work priorities with social needs. This creates a community that has high levels of organisational loyalty. Perhaps one of the most direct and obvious benefits of social computing is strengthening marketing efforts in the UAE. These applications will allow companies to reach customers in new and exciting ways. They will facilitate relationship marketing and also expand consumer pools (Parameswaran Whinston 765). Conclusion Social computing empowers businesses to increase creativity, organise business strategies and strengthen social interactions. This means that they can reach new clients, facilitate better internal communication, keep up with industry trends, increase business outcomes (financial returns), strengthen employee commitment and communicate with partners more easily. Social computing leads to better financial, human resource, marketing and communication outcomes. Bughin, Jacques, Angela Byers Michael Chui. How social technologies are extendin g the organisation. Nov. 2011. Web.. †¹mckinseyquarterly.com/High_Tech/Strategy_Analysis/How_social_technologies_are_extending_the_organization_2888†º Dachis Group. The definition of social business. June 2012. Web. †¹dachisgroup.com/2012/06/the-definition-of-social-business/†º Fun, Rachael Christian Wagner. â€Å"Weblogging: A study of social computing and its impact on organisations†. IT and value creation 45.2(2008): 242-250. Print. IBM. IBM social business. 2012. Web.. †¹ibm.com/smarterplanet/us/en/socialbusiness/overview/index.html†º Kim, Peter. The power of people. 2012. Web.. †¹https://www.youtube.com/watch?v=VIMR3uHMWz4†º Licklider, Jack Taylor Robert. The computer as a communication device 1968. Web.. †¹comunicazione.uniroma1.it/materiali/20.20.03_licklider-taylor.pdf. †º McDonald, David. Social Computing, 2011. Web. †¹interaction-design.org/encyclopedia/social_computing.html†º Messinger, Paul, Eleni Strou lia, Kelly Lyons, Michael Bone, Run Niu, Kristen Smirnov, Stephen Perelgut. â€Å"Virtual worlds – past, present and future: new directions in social computing.† Online communities and social network 47.3(2009): 204-228. Print. Miller. Megan, Aliza Marks Marcelus DeCoulode. Social software for business performance.2011. PDF file. Web.. †¹deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/TMT_us_tmt/us_tmt_%20Social%20Software%20for%20Business_031011.pdf†º O’Driscoll, Tony. â€Å"Transforming collaboration with social tools.† Technology Forecast 3: 1-68. 2011. Web. Parameswaran, Manoj Andrew Whinston. â€Å"Social computing: an overview.† Communications of the Association for Information Systems 19(2007): 762-780. Print. Ramo, Simon. Teaching machines and programmed learning: a source book. Washington, DC: NEA, 1961. Print. Rasmus, Daniel Rob Salkowitz. Social computing in the enterprise 2009. PDF file. 22 Jun. 2012 †¹ http://download.microsoft.com/download/8/3/A/83A83256-4BC7-4512-9C73-2B6AB50F144E/Social_Computing_in_the_Enterprise.pdf†º Rouse, M. Social computing. 2010. Web.. †¹http://searchwinit.techtarget.com/definition/social-computing-SoC†º Schwartz, Jonathan. â€Å"If you want to lead, Blog.† Harvard Business Review Nov. 2005: 1. Print.

Management Teams Essay Example | Topics and Well Written Essays - 1500 words

Management Teams - Essay Example Belonging to a team means that you are part of something larger than yourself like the mission of your organization. Even though you are designated to a specific rank and branch of the company, you are grouped together with other employees to achieve a final target that is beneficial to the whole company including you. (Jones; George, 2003) For example, if you are the chief engineer of a construction company and you are asked to head the production of a recreational facility, you cannot enforce your own decisions over others. You have to listen to what the others have to say and consider any complications or drawbacks pointed out by the designers, accountants, workers, etc. This lack of coordination can lead to a series of catastrophic events bad for both, the company and you. No matter how qualified or experienced you are, a brainstorm of ideas from a group of lesser-qualified staff is always better than a single sharp mind. This shows that the effectiveness of a team relies more on the mutual understanding and cooperation of its members rather than their individual achievements. I hereby pronounce the title statement to be true. You may bring out the best people to find and make a team, but it may still not be the maximum. The best violinists or cellists do not make the greatest orchestra. The best players do not make the greatest sports team. Similarly, in business, the best accountants or marketers do not achieve the finest results. You may have all the right ingredients but not knowing the recipe will never result in a perfect product. (Baker, 2000). An excellent example to demonstrate this is the Apollo Syndrome, a phenomenon discovered by Dr. Meredith Belbin, which states that a group of highly intelligent people often perform worse than a group of less able people. He was one of the early discoverers of Team Building and took special measures to select candidates for his experiments. He observed their abilities and took aptitude tests to examine their skills. Although the Apollo teams were predicted to exceed every other group in the competition, they nearly always ended up at the bottom. This failure to excel above all others, including teams relatively much less qualified, was due to certain reasons mentioned below. The members spent a lot of time in destructive debates and arguments trying to convince other members to accept their ideas, and pointing out errors in other people's theories. This led nearly all the arguments to dead ends. They found it tough to reach a unanimous decision and even if they did so, the decision would not stick together. They were found to follow their own procedures without giving any heed to what the other members were doing. Due to this lack of coordination, the group was found to be tough to manage. They refrained from confrontations of each other, which made it extremely difficult to make a unanimously accepted decision. Sometimes, they realized what was going on but instead of taking the right steps, they over-compensated by putting in irrelevant effort. (Belbin, 1981) In today's world of business, concepts such as internal evaluations, promotions, forced rankings, rewards, aggressive client policies, and active union relations are a common practice, and thus force

Critically evaluate the use of Anti suit injunctions in International Essay

Critically evaluate the use of Anti suit injunctions in International Arbitration - Essay Example However, the general perception is that anti-suit injunctions are an interference with disputes that are currently in foreign courts. Arbitration tribunals lack the coercive power that the courts have. As a result, the arbitration process faces several procedural challenges among them the lack of a consolidated proceeding for a common dispute. Thus, parallel proceedings can have divergent outcomes despite arising from a similar dispute3. Lack of precedence also means that awards obtained in specific arbitrations are not applicable to other cases. Strategic delays and their accompanying additional costs as well as breach of procedural deadlines also pose other challenges to the arbitration process. Therefore, anti-suit injunctions are a counter measure against international arbitration. Their employment in a proceeding is to protect public policy or jurisdiction where there are comity issues in the foreign jurisdiction. Comity is the recognition that a nation allows another in reference to judicial, executive and legislative acts. It gives due regard to international duty, convenience and the rights of all persons (citizens or otherwise) under a nations protection4. The subject of anti-suit injunctions in English courts is a controversial one with regard to the relationship between the English courts and foreign jurisdictions5. The 1966 Arbitration Act is a conceptual legislative framework that guides international and domestic arbitration in England and Wales (herein the UK). It has influences from the UNCITRAL Model Law (1985) on International Commercial Arbitration. The Brussels I regulation also has an influence on the decisions of anti-suit injunction in Private International Law. The European Union (EU) also allows the English court jurisdiction on the matter of equity where it applies double standards between the member and non-member states. The

Strategy & Sensemaking HR Essay Example | Topics and Well Written Essays - 1250 words

Strategy & Sensemaking HR - Essay Example Therefore, a strategy is the business game plan for each firm, or organization. Business strategies are thus a selection of ideas and assets in meeting a business long term goals in the market. A business strategy exists in three phases; the first phase is creating the strategy, the second is implementing the strategy, and the last phase is evaluating the strategy to indentify how well a business has done in meeting its goals and objectives. According to Hambrick & Fredrickson (4), a strategy involves pieces of small elements that coherently integrate to form the whole. Hambrick & Fredrickson further explain that a strategy is a central, externally oriented and integrated goal plan of how the business plans to achieve its overall objectives. This report aims at applying the meaning of strategy, in understanding how General Electric (GE) Company has been able to attain its competiveness and leadership in the market today. General electric mainly specializes in diversified financial and technological services. The company’s main products range from power generational services, aircraft engines, household appliances, water processing, medical imaging among other industrial products (Bloomberg, 2012). Through strategic management and elaborate strategies in the HR, marketing, and production departments, the company has achieved setting benchmarks and leadership in the market, and is a major global competitor in sever al sectors as indicated above. GE has portrayed impressive strategies in its marketing department in the recent past. According to Comstock, Gualti & Liguori (2010), 10 years ago, GE had no remarkable marketing organization in its strategies. The company had developed a culture that its modern technologies were too good; the products could even market themselves with no elaborate strategy. The company’s staffs in the marketing specification were

Relationship Between Learning and Growth in Business

Relationship Between Learning and Growth in Business Introduction The introductory chapter begins with a description of the context of the present study and a presentation of the fundamental issue addressed in this empirical investigation. The significance of intangible assets in knowledge era, objectives, conceptual framework and contribution value of this study is also addressed in this chapter. 1.1 Research Context This section presents the broad context within which this empirical investigation is undertaken. The current problems and significance of intangible assets in knowledge era are explained. Traditionally, profit and loss figures in the balance sheet and annual financial reports are used as the main financial performance indicators for the action previously taken monitoring and crafting short term strategies. Accounting for intangible assets starts with documenting the various categories of expenses. Profit (or loss) is derived from the financial difference between sales revenue and operating cost. The costs include the expenses in brand building, customer database, training, product development, information technology, etc. These are usually treated as part of the operating cost and marketing expenses. The investment of tangible assets such as equipment, machinery, building, etc. is also recorded in balance sheet. This simple accounting record mechanism is no longer sufficient in the knowledge based economy. There is no linkage with long term strategies to compete with global competitors and survive in dynamic economic. Since an increasing share of market value in this era is not represented by inventory or physical assets. Investments in intangible assets are usually not documented in a proper systematic manner because of data non-availability. Consequently, reasonable estimates of the future performance potential of an organization could not be provided to the management. It is intriguing to note that the cause-effect relationships between marketing, production and human resource and financial performance have not so far been made operational. Prior to the knowledge era, business lived in the world of tangibles, which worked well with the traditional accounting practices. However, things are different in todays world of intangibles. Modern management style and strategic crafting have adapted in response to global competition and volatile economic environment. The industrial age management has been replaced by the knowledge age leadership, with corresponding transformational effects on the economy and workplace (Figure 1.1). The focus on tangible assets in the industrial age has shifted to intangible assets in the knowledge age. This paradigm shift encourages organizational employees to utilize their knowledge in line with organizational goals. Globalization is the main driver of knowledge economy. Toffler (1990) proposed knowledge as the key success factor in the present competition. Knowledge can be transferred by information flow from manufacturers to customers. Organization knowledge could be frequently managed by well- organized people in organization. Knowledge and information technology form an important part of intangible assets. With the realization of this paradigm shift, issues concerning intangible assets are now more widely researched and practiced. Figure 1.1 The shift in management style from industrial age to the knowledge age Intangible assets are of increasing importance for the corporate value creation  processes of all kinds of organizations. In 1978, intangible assets were determined to constitute only 5% of all assets, while they become 78% of all assets today. Some 50 to 90 percent of the value created by a firm in todays economy is estimated to come from the management of the firms intellectual capital rather than from the use and production of material goods (Guthrie and Yongvanich, 2004). Some public and private sector organizations do not attempt to incorporate the value of intangible assets. Sonnier et al. (2007) examined 150 high technology companies and found that management may want to reduce the level of disclosure to conceal sensitive strategic information in order to maintain a competitive advantage. As such, management reporting and financial statements will become increasingly irrelevant as a tool supporting meaningful decision making. Forward-thinking management has to ensure that in tangible assets are identified, monitored, built and leveraged. Financial profit alone could not guarantee the long term survival of companies. To be sustainable, companies need to understand and be able to manage intangible factors, including organizational learning and growth, internal process and external structure. Management that aspires for sustainable business growth and industrial leadership in the twenty-first century has to focus on superior management skills and knowledge under limited resources. Augier and Teece (2005) and Johanson (2005) reported that human capital, knowledge and other intangible assets have emerged as key to business performance in the economic systems. The intangible assets are the competitive edge over competitors. Srivastava et al. (1998) suggested the framework linking market-based assets to shareholder value which could be considered as the subset of present study. The market investment in brand and customer-profile databases leads to cash flows via a combination of price and share premiums, faster market penetration, reduced distribution, sales and service costs, and increased loyalty and retention. Brands are economic assets which are to create value shareholders and develop competitive advantage (Doyle, 2001). During the last three decades, brand is widely recognized as playing the key role in business. Brands influence customer choice, but the influence varies depending on the market in which the brand operates. Ittner (2008) suggested several pre vious studies that provided at least some evidence that intangible asset measurement is associated with higher performance. Several previous studies are limited by over-reliance on perceptual satisfaction or outcome variables, inadequate controls for contingency factors, simple variables for capturing complex measurement practices, and the lack of data implementation practice. In this study, the Balanced Scorecard strategy map (Kaplan and Norton, 2004) is chosen to provide a framework to illustrate how strategy links intangible assets to value creating processes. The reasons for choosing Balanced Scorecard as the stage to build the framework for the present research are as follows: First, Balanced Scorecard is a practical approach to measure the intangible assets that has been widely used in a variety of organizations over the past two decades. Second, through the strategy map concept, Balanced Scorecard provides the linkage the relationship between intangible assets and business performance including the interrelationship between intangible assets elements: 1) Learning and growth affect internal process 2) Internal process affects external structure 3) External structure affects business performance. The measures in the four perspectives are linked together by cause-effect relationships. The company builds the core competence and training to support the i nternal process. The internal process creates and delivers the customer value proposition. When the customers are satisfied, the sales and profit are delivered in terms of financial performance which is the key measure of business performance. 1.2 Research Objectives Since developed economies have become knowledge-based and technology intensive, view of the firm has significantly changed and intangible assets have become fundamental determinants of value and control. There are three fundamental elements of intangible assets which are learning and growth, internal process and external structure (Sveiby, 1997; Kaplan and Norton, 2004). The ultimate goal of firm is to maximize the business performance (financial performance, sales performance and customer fulfillment). This study aims to establish empirically the cause-effect relationship between learning and growth, internal process, external structure and business performance, including the interrelationships between the elements leading to business performance. 1.3 Expected Contributions of the Study There are two key areas of expected outcomes of the study. First, the impact of intangible assets on business performance is expected to be empirically established. In particular, the cause-effect relationship between learning and growth, internal process and external structure would be identified and analyzed. This is so that the detail underlying the relationships can be implemented in practice. Second, it is expected that the effect of business size, business sector and establishment age on the causal links between intangible assets and business performance would be established. As there are various types of firms business (service and non-service), sizes of business (large and SME), establishment age in the industry, this study would provide the pattern of cause-effect relationships between intangible assets and business performance in each business characteristic. Given the expected outcomes, the expected academic contributions of the present study would be to encourage similar studies to establish the causal links between intangible assets and business performance in other types of economies. The study would also provide the foundation for the field of intangible asset management For business practitioners, top management will benefit from the understanding of cause-effect relationship and the realization of the importance of intangible assets (learning and growth, internal business process and external structure) and business performance. With the clearer understanding, proper budget allocation and intangible assets management will be more properly focused and controlled to increase sustainable competitive advantage. The intangible assets are the strategic key to a sustainable competitive advantage and future economic profit. 1.4 Conceptual Framework During last decade years, intangible assets are widely expanded and researched. The value of intangible assets is likely to grow over time if the firm undertakes successful intangible assets management. The intangible assets in each fundamental element (learning and growth, internal process and external structure) are selected and classified as shown in Table 1.1. More detail explanation is given in Chapter 2. Table 1.1 Framework of intangible assets indicators The cause-effect relationship is covered in strategic mapping (Kaplan and Norton, 2004). There have also been several studies, e.g. Huselid and Becker (1997), Hitt et al. (2001), Liu and Tsai (2007), that examined the relationship between learning and growth and business performance as explain in more detail in Chapter 2. The main hypotheses in the present study are shown in Figure 1.2. Figure 1.2 Research hypotheses testing model H1: Learning and Growth is positively related to Internal Process H2: Internal Process is positively related to External Structure H3: External Structure is positively related to Business Performance H4: Learning and Growth is positively related to Business Performance 1.5 Outline of Methodology The research hypotheses formulated in this study were tested in the mail survey or questionnaire of registered company at the Thai Chamber of Commerce. The initial step in the analysis of the data collected focuses on examining the frequency distribution and the mean and standard deviation for each item or variable considered in this research. The next step in data analysis is to assess the validity of measures. Here the study uses item-total correlation, confirmatory factor analysis and the Cronbach alpha coefficient. The initial data analysis, and reliability and correlation analyses are performed using the SPSS statistical package. Furthermore, the structural equation modeling (SEM) EQS program (Bentler, 1995) is used to perform the confirmatory factor analysis, discriminant validity tests and testing of the structural model. The entire step-by-step model fit process from data collection by field survey questionnaires is shown in Figure 1.3. More details of research methodology ar e provided in Chapter 3. 1.6 Structure of the Thesis The thesis is structured on the basis of five chapters, which represent the different stages that are involved in the overall research process. Chapter 1 has covered the research context, current problems, purpose and expected contribution of the studies. Chapter 2 provides an extensive review of definition of intangible assets, intangible assets value and the Balanced Scorecard strategic mapping. This detail provide support to conceptual model of the study and the set of research hypotheses of the study which links learning and growth, internal process and external structure to business performance through cause-effect relationship. Chapter 3 presents the step-by-step research methodology used to conduct the study. It illustrates a range of important methodological issues including the research design, sampling, questionnaire development process, data collection and measurement of model variables. The Structural Equation Modeling (SEM) technique is briefly explained. Chapter 4 provides results of validity testing of the constructs and hypotheses of the present study by using EQS program for SEM technique and Statistical Package for Social Science (SPSS) program. Not only the results of the main research hypotheses testing model, but also other possible models are explored. Chapter 5 presents a summary of the major findings and conclusions of the study. It also suggests the long-term strategic implications of the study finding for top management. Finally, consideration is given to the limitations of this empirical investigation and suggestions are made for potential directions and strategies for future research. Literature Review This chapter reviews the definition of intangible assets and its value. The previous correlation empirical research between intangible assets and performance are reviewed. 2.1 Introduction There have been a large number of studies in intangible assets during the last two decades (see Figure 2.1). Intangible assets are involved in the customers, external structure, human resources, and internal process. The intangible assets are defined as non-financial assets without physical substance that are held for use in the production or supply of goods or services or for rental to others, or for administrative purpose (Epstein and Mirza, 2005). Intangible asset is an accounting term, but intellectual capital is a noun used in the management field. They both refer to the same thing. Therefore, Edvinsson and Malone (1997) and Tseng and Goo (2005) pointed out that intangible assets and intellectual capital are synonyms. Intangible assets are identifiable and controlled by the enterprise as a result of past events, and from which future economic benefits are expected to flow. Figure 2.1 Research development on intangible assets 2.2 Intangible Asset Element Classification Several studies have variously attempted to categorize intangible assets as summarized in Table 2.1. Some categorizations are in more common use than others. Table 2.1 Approaches for the categorization of intangible assets The purpose model of the above intangible assets researchers is summarized by Bontis (2000) in Table 2.2. Table 2.2 Purpose of intangible model In Table 2.1 and Table 2.2, there are the intangible elements correspond in each study. Wingren (2004) proposed that framework the correspond to intangible assets framework presented by Sveiby (1997) and Kaplan and Norton (1992) in Figure 2.2. Wingren (2004) mentioned that the Balanced Scorecard is primarily tool for internal development and evaluating the market value of the company for long run. Bose and Thomas (2007) implemented the concept of Balanced Scorecard to a company and they claimed that the formulating of Balanced Scorecard fits the strategic interest of the organization to achieve sustainable competitive advantage. The Balanced Scorecard encapsulates the short and long-term strategies. The motivation and evaluation of employee to achieve goal in BSC is rather than using it just as a measuring tool. When intangible assets are addressed and defined, there are four practical approaches to measure the intangible assets (Luthy, 1998): 1. Direct Intellectual Capital Method (DIC) Estimate the value of intangible assets by identifying its various components. Once these components are identified, they can be directly evaluated, either individually or as an aggregated coefficient. 2. Market Capitalization Method (MCM) Calculate the difference between a companys market capitalization and its stockholders equity as the value of the intellectual capital or intangible assets. 3. Return on Asset Method (ROA) Average pre-tax earnings of a company for a period of time are divided by the average tangible assets of the company. The result is a company ROA that is then compared with its industry average. The difference is multiplied by the companys average tangible assets to calculate an average annual earning from the intangibles. Dividing the above value of average earnings by the companys average cost of capital or an interest rate once can provide an estimate of the value of its intangible assets or intellectual capital. 4. Balanced Scorecard Method (BSC) The various components of intangible assets or intellectual capitals are identified and indicated. Indices are generated and reported in scorecards or graphs. Wingren (2004) has chosen to use the BSC concept because BSC contains outcome measures and the performance driver of outcomes, linked together in cause-effect relationships. There are linkages between customer, internal process and learning/growth with financial performance. The financial performance is the outcome and visible to the observers. 2.3 Intangible Assets in Balanced Scorecard Among the above four approaches, the Balanced Scorecard is by far the most well-known, although its original intent was not meant to be the measure for intangible assets, as discussed by Marr and Adams (2004) and Mouritsen et al. (2005). The Balanced Scorecard may be used to measure all the intangible assets in Table 2.1. Bose and Thomas (2007) recently applied the Balanced Scorecard in an empirical study of the Foster Brewing Group. The formulating of a scorecard that best fits the strategic interest of the organization is considered vital. In their view, the Balanced Scorecard is never really complete because the business environment (new competitors, changing customer demand, etc.) is dynamic and constantly evolving. As is already well-known, the Balanced Scorecard was introduced by Kaplan and Norton (1992) as a tool to link financial performance with non-financial performance dimensions: learning and growth, internal process and customer perspectives. Linkages and relationships between customers, internal process and learning/growth with financial performance are shown in Figure 2.3. The Balanced Scorecard acts as a measurement system, a strategic management system, and a communication tool. Seggie et al. (2007) made an argument for the Balanced Scorecard to be the measurement tool in marketing to measure non-financial assets and provide the organization with a long-term perspective. The Balanced Scorecard is at least partially forward-looking and partially geared toward the long-term performance of the firm. The Balanced Scorecard concept has been examined the performance measurement of bonus plan in major financial services firm. Ittner et al. (2003) recommended that the future research on Bal anced Scorecard adoption and performance consequences must move to encompass the entire implementation process. . The concept of cause-effect relationship separates the Balanced Scorecard from other performance management systems. The measures appearing on the scorecard should be linked together in a series of cause-effect relationships to tell the organizations strategic story. Increasing promotional expenses will lead to the increase in brand value. Increased brand value will lead to higher sales revenue The investment of human capital will create the continuous learning and growth in the organization. When the employees have more experience and knowledge, they can create the internal process which serves and fulfills customer satisfaction. The profit and revenue are the final outcomes of this causal chain. Heskett et al. (1994) explained that the linkage of the above model that investment in employee training leads to improvement in service quality. Better service quality lead to higher customer satisfaction. Higher customer satisfaction leads to increased customer loyalty. Increased customer loyalty generates increased revenues and margins. The following are five principles of successful Balanced Scorecard users (Kaplan and Norton, 2004): 1. Mobilize change through executive leadership 2. Translate the strategy into operational term 3. Align the organization to the strategy 4. Make strategy everyones job 5. Make strategy a continual process Intangible assets can be considered very much part of the Balanced Scorecard. Intangible assets are linked mainly to the marketing and human resources. Following is the review of intangible assets in Balanced Scorecard by Kaplan and Norton (1992) and intangible asset monitored by Sveiby (1997) are reviewed. By using the categories developed by Hall (1993), Sveiby (1997), Shaikh (2004) and Roos et al. (1997) reviewed and classified the intangible assets into a framework of internal structure, external structure, and employee competence as shown in Table 2.3. Table 2.3 Framework of intellectual capital/ intangible assets indicators From the above table, the intangible assets are reviewed as follows. 1. Learning and Growth The learning and growth is the capacity of employee to act in a wide variety of situations. Employee is the most valuable asset of the company in the highly competitive market. It is the one asset that creates uniqueness to the company and differentiates the company from the competitors. Sveiby (1997) emphasized employee capability as a key asset for organization growth. Employee satisfaction refers primarily to job and what employees perceive as offerings. Employee satisfaction is positively related to organizational commitment. There are several studies mentioned that human resource is effect to business performance. Huselid (1999) and Hand (1998) have reported the existence of a positive and significant relationship between investments in human resources and the market value of companies. Huselid and Becker (1997) found that there is a strongly positive relationship between a high performance human resource systems and firm performance. Bontis et al. (2000) found that human capita l had positive effect on customer retention and loyalty regardless of industry type. Hitt et al. (2001) and Hurwitz et al. (2002) found that human capital has a positive effect on performance. Also, human capital is shown to have moderate cause-effect relationships with strategy and firm performance. Moon and Kym (2006) confirmed that human capital, structural capital and relational capital have direct impact on intellectual capital. Liu and Tsai (2007) surveyed 560 managers from major Taiwanese hi-tech companies and found that knowledge management has a positive effect on operating performance. Lin and Kuo(2007) also investigated that human resource management influences operational performance indirectly through organizational learning and knowledge management capability. Knowledge is one of learning and growth perspective. In knowledge era, the knowledge management has been widely studies. The knowledge is lost by the organization when the employees leave the firm (Ordonez de Pablos, 2004). McKeen et al.(2006) founded that knowledge management was positive significant to overall organization performance (product leadership, customer intimacy and operational excellence) which is part of internal and customer perspectives in Balanced Scorecard. Organization performance was significant to financial performance. There was no significant direct relationship between knowledge management and financial performance. The knowledge sharing is a key issue in order to enhance the innovation capability that is one of internal process (Saenz et al., 2009). There is also the linkage of learning and growth and internal process. Forcadell and Guadamillas (2002) studies a firm used knowledge management to develop a process of continuous innovation which is in the inter nal business process perspective. 2. Internal Process The internal process includes patents, concepts, models, information technology systems, administrative systems and organizational culture (Aaker, 1991). Such leading companies as GE, Sony, IBM, or Ford used to cover a wide variety of products, but after finding that they could not sustain all product lines, they switched to selective products, while improving the intangible factors, quality and innovation. Deng et al. (1999) suggested that patent attributes are statistically associated with stock return and market to book ratio. Research and Development is one of intangible assets which is the most importance performance. Chu et al. (2008) founded that the valuation of assets and long-term focused in operation of US ICs firms are higher than the firms in Taiwan. 3. External Structure The external structure includes relationship with customers and suppliers. The Balanced Scorecard is concerned only customer value proposition, but the external structure covers supplier. The external structure also encompasses brand-names, customer loyalty, customer satisfaction and the companys reputation or goodwill. In the brand valuation terminology, brand is a large bundle of trademarks and associated intellectual property rights. Cravens and Guilding (1999) reported that brand valuation is one of the most effective means for business to bring accounting and marketing closer for the purpose of strategic brand management and effective means of communication between marketing and accounting. A branded business valuation is based on a discounted cash flow analysis of future earnings for that business discounted at the appropriate cost of capital. The value of the brand business is made up of a number of tangible and intangible assets. There are 2 brand evaluation models 1) research-based approaches measure consumer behavior and attitudes that have an impact on the economic performance of brands. No financial value on brands is in this model 2) purely financially driven approaches. Relationship Between Learning and Growth in Business Relationship Between Learning and Growth in Business Introduction The introductory chapter begins with a description of the context of the present study and a presentation of the fundamental issue addressed in this empirical investigation. The significance of intangible assets in knowledge era, objectives, conceptual framework and contribution value of this study is also addressed in this chapter. 1.1 Research Context This section presents the broad context within which this empirical investigation is undertaken. The current problems and significance of intangible assets in knowledge era are explained. Traditionally, profit and loss figures in the balance sheet and annual financial reports are used as the main financial performance indicators for the action previously taken monitoring and crafting short term strategies. Accounting for intangible assets starts with documenting the various categories of expenses. Profit (or loss) is derived from the financial difference between sales revenue and operating cost. The costs include the expenses in brand building, customer database, training, product development, information technology, etc. These are usually treated as part of the operating cost and marketing expenses. The investment of tangible assets such as equipment, machinery, building, etc. is also recorded in balance sheet. This simple accounting record mechanism is no longer sufficient in the knowledge based economy. There is no linkage with long term strategies to compete with global competitors and survive in dynamic economic. Since an increasing share of market value in this era is not represented by inventory or physical assets. Investments in intangible assets are usually not documented in a proper systematic manner because of data non-availability. Consequently, reasonable estimates of the future performance potential of an organization could not be provided to the management. It is intriguing to note that the cause-effect relationships between marketing, production and human resource and financial performance have not so far been made operational. Prior to the knowledge era, business lived in the world of tangibles, which worked well with the traditional accounting practices. However, things are different in todays world of intangibles. Modern management style and strategic crafting have adapted in response to global competition and volatile economic environment. The industrial age management has been replaced by the knowledge age leadership, with corresponding transformational effects on the economy and workplace (Figure 1.1). The focus on tangible assets in the industrial age has shifted to intangible assets in the knowledge age. This paradigm shift encourages organizational employees to utilize their knowledge in line with organizational goals. Globalization is the main driver of knowledge economy. Toffler (1990) proposed knowledge as the key success factor in the present competition. Knowledge can be transferred by information flow from manufacturers to customers. Organization knowledge could be frequently managed by well- organized people in organization. Knowledge and information technology form an important part of intangible assets. With the realization of this paradigm shift, issues concerning intangible assets are now more widely researched and practiced. Figure 1.1 The shift in management style from industrial age to the knowledge age Intangible assets are of increasing importance for the corporate value creation  processes of all kinds of organizations. In 1978, intangible assets were determined to constitute only 5% of all assets, while they become 78% of all assets today. Some 50 to 90 percent of the value created by a firm in todays economy is estimated to come from the management of the firms intellectual capital rather than from the use and production of material goods (Guthrie and Yongvanich, 2004). Some public and private sector organizations do not attempt to incorporate the value of intangible assets. Sonnier et al. (2007) examined 150 high technology companies and found that management may want to reduce the level of disclosure to conceal sensitive strategic information in order to maintain a competitive advantage. As such, management reporting and financial statements will become increasingly irrelevant as a tool supporting meaningful decision making. Forward-thinking management has to ensure that in tangible assets are identified, monitored, built and leveraged. Financial profit alone could not guarantee the long term survival of companies. To be sustainable, companies need to understand and be able to manage intangible factors, including organizational learning and growth, internal process and external structure. Management that aspires for sustainable business growth and industrial leadership in the twenty-first century has to focus on superior management skills and knowledge under limited resources. Augier and Teece (2005) and Johanson (2005) reported that human capital, knowledge and other intangible assets have emerged as key to business performance in the economic systems. The intangible assets are the competitive edge over competitors. Srivastava et al. (1998) suggested the framework linking market-based assets to shareholder value which could be considered as the subset of present study. The market investment in brand and customer-profile databases leads to cash flows via a combination of price and share premiums, faster market penetration, reduced distribution, sales and service costs, and increased loyalty and retention. Brands are economic assets which are to create value shareholders and develop competitive advantage (Doyle, 2001). During the last three decades, brand is widely recognized as playing the key role in business. Brands influence customer choice, but the influence varies depending on the market in which the brand operates. Ittner (2008) suggested several pre vious studies that provided at least some evidence that intangible asset measurement is associated with higher performance. Several previous studies are limited by over-reliance on perceptual satisfaction or outcome variables, inadequate controls for contingency factors, simple variables for capturing complex measurement practices, and the lack of data implementation practice. In this study, the Balanced Scorecard strategy map (Kaplan and Norton, 2004) is chosen to provide a framework to illustrate how strategy links intangible assets to value creating processes. The reasons for choosing Balanced Scorecard as the stage to build the framework for the present research are as follows: First, Balanced Scorecard is a practical approach to measure the intangible assets that has been widely used in a variety of organizations over the past two decades. Second, through the strategy map concept, Balanced Scorecard provides the linkage the relationship between intangible assets and business performance including the interrelationship between intangible assets elements: 1) Learning and growth affect internal process 2) Internal process affects external structure 3) External structure affects business performance. The measures in the four perspectives are linked together by cause-effect relationships. The company builds the core competence and training to support the i nternal process. The internal process creates and delivers the customer value proposition. When the customers are satisfied, the sales and profit are delivered in terms of financial performance which is the key measure of business performance. 1.2 Research Objectives Since developed economies have become knowledge-based and technology intensive, view of the firm has significantly changed and intangible assets have become fundamental determinants of value and control. There are three fundamental elements of intangible assets which are learning and growth, internal process and external structure (Sveiby, 1997; Kaplan and Norton, 2004). The ultimate goal of firm is to maximize the business performance (financial performance, sales performance and customer fulfillment). This study aims to establish empirically the cause-effect relationship between learning and growth, internal process, external structure and business performance, including the interrelationships between the elements leading to business performance. 1.3 Expected Contributions of the Study There are two key areas of expected outcomes of the study. First, the impact of intangible assets on business performance is expected to be empirically established. In particular, the cause-effect relationship between learning and growth, internal process and external structure would be identified and analyzed. This is so that the detail underlying the relationships can be implemented in practice. Second, it is expected that the effect of business size, business sector and establishment age on the causal links between intangible assets and business performance would be established. As there are various types of firms business (service and non-service), sizes of business (large and SME), establishment age in the industry, this study would provide the pattern of cause-effect relationships between intangible assets and business performance in each business characteristic. Given the expected outcomes, the expected academic contributions of the present study would be to encourage similar studies to establish the causal links between intangible assets and business performance in other types of economies. The study would also provide the foundation for the field of intangible asset management For business practitioners, top management will benefit from the understanding of cause-effect relationship and the realization of the importance of intangible assets (learning and growth, internal business process and external structure) and business performance. With the clearer understanding, proper budget allocation and intangible assets management will be more properly focused and controlled to increase sustainable competitive advantage. The intangible assets are the strategic key to a sustainable competitive advantage and future economic profit. 1.4 Conceptual Framework During last decade years, intangible assets are widely expanded and researched. The value of intangible assets is likely to grow over time if the firm undertakes successful intangible assets management. The intangible assets in each fundamental element (learning and growth, internal process and external structure) are selected and classified as shown in Table 1.1. More detail explanation is given in Chapter 2. Table 1.1 Framework of intangible assets indicators The cause-effect relationship is covered in strategic mapping (Kaplan and Norton, 2004). There have also been several studies, e.g. Huselid and Becker (1997), Hitt et al. (2001), Liu and Tsai (2007), that examined the relationship between learning and growth and business performance as explain in more detail in Chapter 2. The main hypotheses in the present study are shown in Figure 1.2. Figure 1.2 Research hypotheses testing model H1: Learning and Growth is positively related to Internal Process H2: Internal Process is positively related to External Structure H3: External Structure is positively related to Business Performance H4: Learning and Growth is positively related to Business Performance 1.5 Outline of Methodology The research hypotheses formulated in this study were tested in the mail survey or questionnaire of registered company at the Thai Chamber of Commerce. The initial step in the analysis of the data collected focuses on examining the frequency distribution and the mean and standard deviation for each item or variable considered in this research. The next step in data analysis is to assess the validity of measures. Here the study uses item-total correlation, confirmatory factor analysis and the Cronbach alpha coefficient. The initial data analysis, and reliability and correlation analyses are performed using the SPSS statistical package. Furthermore, the structural equation modeling (SEM) EQS program (Bentler, 1995) is used to perform the confirmatory factor analysis, discriminant validity tests and testing of the structural model. The entire step-by-step model fit process from data collection by field survey questionnaires is shown in Figure 1.3. More details of research methodology ar e provided in Chapter 3. 1.6 Structure of the Thesis The thesis is structured on the basis of five chapters, which represent the different stages that are involved in the overall research process. Chapter 1 has covered the research context, current problems, purpose and expected contribution of the studies. Chapter 2 provides an extensive review of definition of intangible assets, intangible assets value and the Balanced Scorecard strategic mapping. This detail provide support to conceptual model of the study and the set of research hypotheses of the study which links learning and growth, internal process and external structure to business performance through cause-effect relationship. Chapter 3 presents the step-by-step research methodology used to conduct the study. It illustrates a range of important methodological issues including the research design, sampling, questionnaire development process, data collection and measurement of model variables. The Structural Equation Modeling (SEM) technique is briefly explained. Chapter 4 provides results of validity testing of the constructs and hypotheses of the present study by using EQS program for SEM technique and Statistical Package for Social Science (SPSS) program. Not only the results of the main research hypotheses testing model, but also other possible models are explored. Chapter 5 presents a summary of the major findings and conclusions of the study. It also suggests the long-term strategic implications of the study finding for top management. Finally, consideration is given to the limitations of this empirical investigation and suggestions are made for potential directions and strategies for future research. Literature Review This chapter reviews the definition of intangible assets and its value. The previous correlation empirical research between intangible assets and performance are reviewed. 2.1 Introduction There have been a large number of studies in intangible assets during the last two decades (see Figure 2.1). Intangible assets are involved in the customers, external structure, human resources, and internal process. The intangible assets are defined as non-financial assets without physical substance that are held for use in the production or supply of goods or services or for rental to others, or for administrative purpose (Epstein and Mirza, 2005). Intangible asset is an accounting term, but intellectual capital is a noun used in the management field. They both refer to the same thing. Therefore, Edvinsson and Malone (1997) and Tseng and Goo (2005) pointed out that intangible assets and intellectual capital are synonyms. Intangible assets are identifiable and controlled by the enterprise as a result of past events, and from which future economic benefits are expected to flow. Figure 2.1 Research development on intangible assets 2.2 Intangible Asset Element Classification Several studies have variously attempted to categorize intangible assets as summarized in Table 2.1. Some categorizations are in more common use than others. Table 2.1 Approaches for the categorization of intangible assets The purpose model of the above intangible assets researchers is summarized by Bontis (2000) in Table 2.2. Table 2.2 Purpose of intangible model In Table 2.1 and Table 2.2, there are the intangible elements correspond in each study. Wingren (2004) proposed that framework the correspond to intangible assets framework presented by Sveiby (1997) and Kaplan and Norton (1992) in Figure 2.2. Wingren (2004) mentioned that the Balanced Scorecard is primarily tool for internal development and evaluating the market value of the company for long run. Bose and Thomas (2007) implemented the concept of Balanced Scorecard to a company and they claimed that the formulating of Balanced Scorecard fits the strategic interest of the organization to achieve sustainable competitive advantage. The Balanced Scorecard encapsulates the short and long-term strategies. The motivation and evaluation of employee to achieve goal in BSC is rather than using it just as a measuring tool. When intangible assets are addressed and defined, there are four practical approaches to measure the intangible assets (Luthy, 1998): 1. Direct Intellectual Capital Method (DIC) Estimate the value of intangible assets by identifying its various components. Once these components are identified, they can be directly evaluated, either individually or as an aggregated coefficient. 2. Market Capitalization Method (MCM) Calculate the difference between a companys market capitalization and its stockholders equity as the value of the intellectual capital or intangible assets. 3. Return on Asset Method (ROA) Average pre-tax earnings of a company for a period of time are divided by the average tangible assets of the company. The result is a company ROA that is then compared with its industry average. The difference is multiplied by the companys average tangible assets to calculate an average annual earning from the intangibles. Dividing the above value of average earnings by the companys average cost of capital or an interest rate once can provide an estimate of the value of its intangible assets or intellectual capital. 4. Balanced Scorecard Method (BSC) The various components of intangible assets or intellectual capitals are identified and indicated. Indices are generated and reported in scorecards or graphs. Wingren (2004) has chosen to use the BSC concept because BSC contains outcome measures and the performance driver of outcomes, linked together in cause-effect relationships. There are linkages between customer, internal process and learning/growth with financial performance. The financial performance is the outcome and visible to the observers. 2.3 Intangible Assets in Balanced Scorecard Among the above four approaches, the Balanced Scorecard is by far the most well-known, although its original intent was not meant to be the measure for intangible assets, as discussed by Marr and Adams (2004) and Mouritsen et al. (2005). The Balanced Scorecard may be used to measure all the intangible assets in Table 2.1. Bose and Thomas (2007) recently applied the Balanced Scorecard in an empirical study of the Foster Brewing Group. The formulating of a scorecard that best fits the strategic interest of the organization is considered vital. In their view, the Balanced Scorecard is never really complete because the business environment (new competitors, changing customer demand, etc.) is dynamic and constantly evolving. As is already well-known, the Balanced Scorecard was introduced by Kaplan and Norton (1992) as a tool to link financial performance with non-financial performance dimensions: learning and growth, internal process and customer perspectives. Linkages and relationships between customers, internal process and learning/growth with financial performance are shown in Figure 2.3. The Balanced Scorecard acts as a measurement system, a strategic management system, and a communication tool. Seggie et al. (2007) made an argument for the Balanced Scorecard to be the measurement tool in marketing to measure non-financial assets and provide the organization with a long-term perspective. The Balanced Scorecard is at least partially forward-looking and partially geared toward the long-term performance of the firm. The Balanced Scorecard concept has been examined the performance measurement of bonus plan in major financial services firm. Ittner et al. (2003) recommended that the future research on Bal anced Scorecard adoption and performance consequences must move to encompass the entire implementation process. . The concept of cause-effect relationship separates the Balanced Scorecard from other performance management systems. The measures appearing on the scorecard should be linked together in a series of cause-effect relationships to tell the organizations strategic story. Increasing promotional expenses will lead to the increase in brand value. Increased brand value will lead to higher sales revenue The investment of human capital will create the continuous learning and growth in the organization. When the employees have more experience and knowledge, they can create the internal process which serves and fulfills customer satisfaction. The profit and revenue are the final outcomes of this causal chain. Heskett et al. (1994) explained that the linkage of the above model that investment in employee training leads to improvement in service quality. Better service quality lead to higher customer satisfaction. Higher customer satisfaction leads to increased customer loyalty. Increased customer loyalty generates increased revenues and margins. The following are five principles of successful Balanced Scorecard users (Kaplan and Norton, 2004): 1. Mobilize change through executive leadership 2. Translate the strategy into operational term 3. Align the organization to the strategy 4. Make strategy everyones job 5. Make strategy a continual process Intangible assets can be considered very much part of the Balanced Scorecard. Intangible assets are linked mainly to the marketing and human resources. Following is the review of intangible assets in Balanced Scorecard by Kaplan and Norton (1992) and intangible asset monitored by Sveiby (1997) are reviewed. By using the categories developed by Hall (1993), Sveiby (1997), Shaikh (2004) and Roos et al. (1997) reviewed and classified the intangible assets into a framework of internal structure, external structure, and employee competence as shown in Table 2.3. Table 2.3 Framework of intellectual capital/ intangible assets indicators From the above table, the intangible assets are reviewed as follows. 1. Learning and Growth The learning and growth is the capacity of employee to act in a wide variety of situations. Employee is the most valuable asset of the company in the highly competitive market. It is the one asset that creates uniqueness to the company and differentiates the company from the competitors. Sveiby (1997) emphasized employee capability as a key asset for organization growth. Employee satisfaction refers primarily to job and what employees perceive as offerings. Employee satisfaction is positively related to organizational commitment. There are several studies mentioned that human resource is effect to business performance. Huselid (1999) and Hand (1998) have reported the existence of a positive and significant relationship between investments in human resources and the market value of companies. Huselid and Becker (1997) found that there is a strongly positive relationship between a high performance human resource systems and firm performance. Bontis et al. (2000) found that human capita l had positive effect on customer retention and loyalty regardless of industry type. Hitt et al. (2001) and Hurwitz et al. (2002) found that human capital has a positive effect on performance. Also, human capital is shown to have moderate cause-effect relationships with strategy and firm performance. Moon and Kym (2006) confirmed that human capital, structural capital and relational capital have direct impact on intellectual capital. Liu and Tsai (2007) surveyed 560 managers from major Taiwanese hi-tech companies and found that knowledge management has a positive effect on operating performance. Lin and Kuo(2007) also investigated that human resource management influences operational performance indirectly through organizational learning and knowledge management capability. Knowledge is one of learning and growth perspective. In knowledge era, the knowledge management has been widely studies. The knowledge is lost by the organization when the employees leave the firm (Ordonez de Pablos, 2004). McKeen et al.(2006) founded that knowledge management was positive significant to overall organization performance (product leadership, customer intimacy and operational excellence) which is part of internal and customer perspectives in Balanced Scorecard. Organization performance was significant to financial performance. There was no significant direct relationship between knowledge management and financial performance. The knowledge sharing is a key issue in order to enhance the innovation capability that is one of internal process (Saenz et al., 2009). There is also the linkage of learning and growth and internal process. Forcadell and Guadamillas (2002) studies a firm used knowledge management to develop a process of continuous innovation which is in the inter nal business process perspective. 2. Internal Process The internal process includes patents, concepts, models, information technology systems, administrative systems and organizational culture (Aaker, 1991). Such leading companies as GE, Sony, IBM, or Ford used to cover a wide variety of products, but after finding that they could not sustain all product lines, they switched to selective products, while improving the intangible factors, quality and innovation. Deng et al. (1999) suggested that patent attributes are statistically associated with stock return and market to book ratio. Research and Development is one of intangible assets which is the most importance performance. Chu et al. (2008) founded that the valuation of assets and long-term focused in operation of US ICs firms are higher than the firms in Taiwan. 3. External Structure The external structure includes relationship with customers and suppliers. The Balanced Scorecard is concerned only customer value proposition, but the external structure covers supplier. The external structure also encompasses brand-names, customer loyalty, customer satisfaction and the companys reputation or goodwill. In the brand valuation terminology, brand is a large bundle of trademarks and associated intellectual property rights. Cravens and Guilding (1999) reported that brand valuation is one of the most effective means for business to bring accounting and marketing closer for the purpose of strategic brand management and effective means of communication between marketing and accounting. A branded business valuation is based on a discounted cash flow analysis of future earnings for that business discounted at the appropriate cost of capital. The value of the brand business is made up of a number of tangible and intangible assets. There are 2 brand evaluation models 1) research-based approaches measure consumer behavior and attitudes that have an impact on the economic performance of brands. No financial value on brands is in this model 2) purely financially driven approaches.

Visiting Mountain City :: Descriptive Essay About A Place

Visiting Mountain City Mountain City, Tennessee, is my hometown. I have lived in this small town located in East Tennessee all my life. It has many attractions, shopping places, and great places to eat. Most people don’t realize what the town has to offer--everything from shopping in the downtown area to relaxing in one of the numerous parks. There are also several creeks and camping facilities for the outdoor man. This makes Mountain City a great place to go and forget about all your troubles. Mountain City was established in 1885; the town was first called Talyorsville. The town has grown tremendously since its establishment. Located about 45 miles from Johnson City, it’s a perfect place to visit for a day. The drive is only about an hour from E.T.S.U. Mountain City is also located about 30 miles from Boone, North Carolina, where skiing’s a major attraction. Since I have lived in Mountain City all my life, in my opinion, the fall season is the best time to go. The trees all around are full of color. This time of year is a perfect time to hike on one of the various trails, which will lead you deep into the Appalachian Mountains. Some of the trails lead to spectacular views of the town. The Deer Run Trail is a wonderful trail to hike in order to view the small town. The trail is about a mile long and very challenging. During the fall season, the weather seems warm during the day and cool throughout the night. I’d suggest taking some short sleeve shirts for the day and some long sleeved shirts for the chilly nights. If the outdoors does not interest you, then Mountain City offers several stores to shop at. Downtown Mountain City is packed full of little stores filled with all kinds of treasures. There’s a variety of stores and wide selection of items to choose from. Some stores located in the downtown area are the City Shoe Store, Cornet Furniture, Auto Zone, Downtown Antiques, Hidden Treasures Antiques, and for the young people, Corner Pocket Arcade. The downtown area is not the only place to shop. I learned from my visit that there is a Dollar Store, Family Dollar, Tumbleweed Western Wear, Family Book and Card, and a Stanley Knitting Mill Outlet store. Some of my favorite places to shop are the little booths set up along side of the road, that feature crafts and different selections of souvenirs.

How implementation of Minimum Wage affect the economy market

How implementation of Minimum Wage affect the economy market BY yuxtangol 25 Statutory minimum wage regulation was first introduced in New Zealand in 1894. Some attempt to control wages had been present since policymakers started believe that the market wages of labour was unfair to the workers. Minimum wage laws dictate a lowest hourly or monthly wage rate that employers may legally pay to workers. For instance, the Minionion government had set a new minimum wages rate of MS900 which intend to ensure that the basic needs of the workers and their families are met.Since that the growing debates over the imposition of minimum age policy have become a very popular topic with examiners in recent year, therefore we may examine the effects of the minimum wage by looking at the theory behind it. Diagraml shows a classical minimum wage set up in a competitive labour market. Like all other markets, competitive labour markets are modelled by the forces of supply and demand. In this case, worke rs determine the supply of labours and firms determine the demand of labour. The Minister of Human Resources, Mr Bananaa Yellow claimed that the new minimum wage (MS900) represented an average increase of 18. % compare to the previous minimum wage (MS757. 7), which affecting some 128,500 low-skilled workers in Minionland. But the diagram above illustrates that there will be a decrease in the quantity of from B to D, which resulting in a surplus of labour from D to C. This should make an intuitive sense that an increase of minimum wage raise the input costs of firm so that they are now less willing and able to hire more workers, while they are more people would like to have a Job because of the higher wage rate.The exceed supply of labour includes both a reduction in employment (A to C) along with the second component consisting of orkers who are drawn into the labour market by the prospect of earning higher minimum wage (D to B). In this case, raising minimum wages rate seems to be wrong as it only benefit some typical high-skilled workers but comes at the expense of those low-skilled workers (typically low-skilled youth) who are shut out of the labour markets.However, several studies and researches find that the magnitude of negative effect on employment varies across countries due to differences in labour market characteristics and the prevailing economic environment. For Minionion, while they maybe some risk on lower unemployment, this effect is expected to be ransitory and contained, given the strong economic and labour market fundamentals and proficiency. Improvement of the economic and labour markets conditions are expected to increase the quantity demanded of labour by shifting the demand curve from DO to Dl .Assuming this strategy is going to push the demand curve upward to the same 128,500 amount of the low-skilled workers, thus it will substantially shrink the effects of the new minimum wage rate on unemployment. In fact, there is a lot of arguments claimed that the traditional view of the minimum wage doesn't hold true in real life. There is the Krueger and Card study that oncluded that â€Å"We find no indication that the rise in the minimum wage reduced employment†. (Robert,2013) Most studies find that the minimum wage policy has only a slight ettect on employment but not result in the mass unemployment predicted in the traditional view.One of the possible assumptions to explain this phenomenon is that the labour demanded by firms and the demand for the product that workers produce is both highly inelastic due to the rapid economic and population growth. Diagram2 above indicates the elasticity of demand on employment and the elasticity of demand on product. In view of the sky-rocketed growth of economic and opulation, hence the firms need more workers to increase production and also productivity to satisfy the demand and maximise their profit, even though they are forced to increase wages.Since the demand of product i s highly inelastic, the firms can also pass on the increase in wage to consumers in the form of higher prices without lay off any workers. The magnitude of price increase would also be constrained by the adjustments that made by the larger firms which tend to be less affected by the imposition of new minimum wage rate. On the contrary, the Smurfland government does not favour setting a minimum wage. They believe that imposition of minimum wage policy will reduce employment in affected industries and affected groups of low-skilled workers.Hence, the Smurfland government believe that it is better to focus on the supply sides (workers), rather than emphasis on the wage setting institution. Their interventions focus on enhancing the skills of low- wage workers, thus increasing their productivity through training and development. Rapid development in science and technology boost the demand for high-skilled workers, it resulting in wages premium for more highly educated workers. Therefore , ther things unchanged, the wages rate is believed to be positively related with the education and productivity of the workers.Thus we can tell from diagram3 below, assume that the supply of labour is inelastic, while the technology advance increase the demand of skilled workers, the demand curve shifts from DO to Dl, putting a pressure on employment upward from QO to QI . And by enhancing skills, more workers meet the prerequisite for higher wages, which results in raising the equilibrium wages rate from WO to WI . Therefore in order to achieve the objectives of reduce poverty and improve living standard of workers, it is important to uarantee those low-skilled workers to undertake productivity-enhancing measures.Skill enhancement policy is believed that can improved supply-side performance and achieved sustained development of economic. It is important to note that enforcement of this policy won't accompany with negative effects like inflation and unemployment. It improves both q uantity and quality of supply and labour, make the labour market more competitive and flexible so that it is more able for labour force to match the demand. Provided training, especially for those who facing problem of structural unemployment, is expected to improve the occupational mobility of orkers.Additionally, a well-educated workface also plays an important role as a magnet to attract foreign investment flows into the economy. In order to raise the low-skilled worker's living standards, the most efficient way is to increase their incomes to levels that fulfil their basic needs. Undeniably, in the long run, the income levels reflect the ability to produce high quality goods and services. Make no mistake that improvement in income levels and living standards cannot be achieved without expansion in outpu t.Studies ot IJ e n te Nations Human Development Programme found that the ratio of the amount of children of fficial secondary school age enrolled in school, to the amount of chi ldren of official secondary school age in the population, is higher in developed nations than it is in developing ones. ( Radcliffe,2012) Hence, invest in education and training for workers is not only benefits in increase their earning potential, but also assist us to transform into high income, high productivity country. Overall, it concludes that both policies could achieve the same goals in different way.However, when we talk about efficiency, we may find that increase the equilibrium wage rate by raising the skill level of workers is actually challenging in practice. For instance, without intervention of government, we can't guarantee that the firms will take the right steps to increase productivity, instead of relying on the low-cost workers. Besides, skill enhancement policy require government to spend more budget on investing education, and it also takes longer realisation period to see the results.Due to the greater opportunity costs and less efficiency, it could be evaluat ed that skill enhancement policy may not be the first choice to reduce poverty. As contrasted, setting a minimum wage rate is envisaged to have obvious effect in educing poverty since it directly increases low-skilled workers wage rate. Firm may be encouraged to provide training to improve the productivity of workers since the relative cost between capital and labour narrows. These changes would facilitate the transformation of nations into high productivity and high income economy.We may conclude that set up a minimum wage will probably have slightly negative effect on unemployment. But with this small opportunity costs, it may boots our economy and improve the living standard of most workers. In other words, the benefits of minimum wage far outweigh the negatives. There should be a simple rule in life that if you are willing to work hard, you should be able to feed yourself. Minimum wage policy is envisaged to be a positive step towards encouraging a fairer wage structure.And othe r productivity-enhancing measures such as provision of training to up-skilled workers will further complement the minimum wage policy to hit its target. I believe that minimum wage policy is well-positioned to achieve its goal, with government support, as well as proper supervision and enforcement. Reterences Oganisian, A. 2013. Economics 101 : Taxes, Minimum Wages, and Why You Shouldn't Boycott Sweatshops – TheCollegeConservative. [online] Available at:http://www.investopedia.com/articles/economics/09/education-training-advantages.asphttp://www. s-cool. co. ukhttps://www.tutor2u.net/economics/reference/economic-growth-an-introductionhttp://www.bnm.gov.my/   

Immigration

Immigration Free Online Research Papers Discussion on immigration has been the focus point in many conversations for quite some time. Both citizens and government officials have noticed and have clarified that immigration has become a serious issue in our country. The main problem with immigration is that a large percentage of immigrants reside in America illegally. This has affected the United States in many negative ways and should spark a large amount of concern throughout the nation. The United States of America was founded and settled on by immigrants. These were people who sought refuge from rising taxes, famine, dictatorship or any other type of unfair, inhumane regimes that might have been in control of their native countries. America has been the land of opportunity and hope since it was founded. The flag and national anthem are both prime, yet only two, examples of what this nation represents and offers to those who seek freedom. The United States has always protected such people and provide them with equal opportunity to become citizens, so that they can pursue their dreams for happiness. These various types of sanctions are what separates the United States and its democracy from any other nation in the world. In the beginning, America was settled upon by English colonials who were loyalists to the mother land, England, and were embarking on a journey that had never been attempted before. They faced inconsiderable odds and were thousands of miles away from what they knew to be a civilized nation. They had little, if any, understanding of the environment that they now call home. Throughout time, more and more settlers arrived and they came from various places throughout Europe in search of the same destiny as their English counterparts. It is estimated that around twelve million people sought refuge in the United States of America between the years of 1870 and 1900. Many of these immigrants came from the European countries, such as; Germany, Ireland, Italy, and even England. Many of these immigrants were asked to serve in the Civil War and in return they would gain freedom as an American citizen. As it is known, the trend of immigration has never ceased to a halt throughout the history of America. So on that note, why is it now that America is having such difficulties with immigration? Americans, more than once, have tried to put a stop or at least tried to reduce the number of immigrants allowed into the nation. By trying to achieve this, America closed immigration ports on both sides of the nation, the government implemented and enforced strict deportation laws, and there were always the uproar and pressures of the American citizens-then immigrants, now natives. The same situations preside in this nation today. The only difference is the race of people who are trying to seek refuge in the United States. It is estimated that 12.7 million Mexican immigrants now live in the United States and account for nearly 32% of the American populous. Social studies also show that of that 32% Hispanic population about 55% are unauthorized to be living in the United States. This main detail is what sparks the furry in American citizens when the topic of immigration is surfaced during any discussion. Many jobs are being given to these illegal aliens, because they work for lower wages. Not only lower wages, but they don’t get health insurance, retirement plans, taxes and many other incentives that American citizens require an employer to provide. This saves the employers a huge sum of money and is extremely appealing to most capitalistic Americans, so the dignity of many employment positions is lost through this mess. Right now more than ever the United States is in dire need of a change. The economy is suffering greatly and unemployment rates are soaring through the roof, almost as high as the American Great Depression during the years of 1929 through the early 1940s. The idea that illegal immigration has contributed to this effect is extremely real and should be taken seriously. Immigration should have extremely strict policies that prevent people from staying within the borders of the United States and having the ability to work. The problem and the focus should not only about finances and job security, but should equally be about homeland security. In a high-tech, fast pace world that we live in, the ability for a foreign attack on U.S. soil is not far fetched. This was proven in the month of September 2001. Men from a foreign country were living in America on expired visas. They same men were also interested in pilot school and waging war on American citizens. Not all foreigners are looking to harm the public, but the threat is imminent and real. America must protect and preserve the lives of its nation. Immigration should be allowed, but granted only to a select few annually and should be monitored with extreme caution with extreme repercussions for any violation. Research Papers on ImmigrationThe Effects of Illegal ImmigrationNever Been Kicked Out of a Place This Nice19 Century Society: A Deeply Divided EraAssess the importance of Nationalism 1815-1850 EuropeBook Review on The Autobiography of Malcolm XPETSTEL analysis of IndiaQuebec and CanadaDefinition of Export QuotasPersonal Experience with Teen PregnancyTwilight of the UAW