An Inclusive Education Debate Education Essay

An Inclusive Education Debate Education Essay The debate on inclusive education is bound to yield conflicting findings. Based on findings already reported in the research, and diversity in the process of inclusion, the field offers much scope for further study. First, the extent to which inclusion benefits students with various special needs whether they be academic, social, and functional in terms of life skills outcomes are yet to be ascertained. It is vital to assess this outcome of special education with reference to attitudes of the teaching community, infrastructure development, political back up and social supports to come to a conclusion about the benefits of special education in the inclusive setting. Special education research must hence intensify its emphasis upon student outcomes in relation to the general education classroom. The extent of teachers reception of the concept must be surveyed among students with special needs and the general student community to further generate data on the validity of the surveys taken on teachers. Only a two sided approach will help control against the urge to give socially acceptable views on survey questions as opposed to actual views to inclusion to ensure its success. This millennium is special in itself as its an era of accountability. It would be interesting to study the teaching communitys expectations of student outcomes for students of different disability types and degrees. This study may hold particular significance as it helps assess the attitude of teachers towards students with different types of special needs. In this study we have assessed teachers views on inclusivity, on collaborative efforts and improvement strategies and seen the overall gender based bias in views on these issues. Although supported by recent statistics, more research is needed to confirm these findings. Further, there is a need to further conduct correlative investigations on teachers attitudes and opinions of inclusion in relation to student outcomes in order to better understand how the concept of inclusion has been understood, evolved and practiced in todays educational forefront. It is apparent that teachers do have preferences and significant attitudes relati ng to the populations of students to whom they provide inclusive education. Both quantitative and qualitative attitude research may further delineate practical approaches to serve various student populations effectively. Education is not the only sector struggling with the tension between social justice-in rhetoric and social justice-in-practice. The education system has long moved past the conventional beliefs and stigmas that girls cant do that and the boys cant do this debates. Even in this age of globalization where gender inequality is taboo however, many teachers are protective of their turf in the curriculum and want to deny access to the curriculum by some learners. Hence the gender bias in education is still a topic whose limits are yet to be exhausted. Teacher stress in general and inclusive education is another field to be considered. In an age where stress and its ill effects are listed in every known field, the burden of inclusive education if any has to be assessed on the teaching community, the children with special needs and the general student population. In support of this theory, research shows that teachers feel ill equipped at times when they deal with the varied range of needs even though they play a key role in changing a students life (Forlin, Hattie Douglas, 1996). McGowan (1984, cited in Trent, 2002) estimated that approximately one quarter of teachers were experiencing acute stress and burnout. There is little evidence to suggest that teacher stress has diminished over subsequent decades. Though teachers play a major key role in shaping up the student generation, inadequacy and the feeling of frustration are the potential barriers to inclusive education. Such challenges are compounded where curriculum and assessment demands may appear inflexible. Pedagogical decision making is another key area of research that has to be widely explored. The real key to inclusivity is through wise pedagogical decisions that will save teachers from the stress of an unbending curriculum and the students from its burden. In fact, advocates of inclusion do not tend to focus upon inclusive education as a product but as a process (Robertson, 1999; Booth Ainscow, 2002; Winzer et al, 2000) founded very much on the democratic principles of mutual respect and collaboration (Jacobson, 2000; Marshall et al, 2002). Inclusive processes are becoming central to school effectiveness research and development. School communities must be invited to reduce the barriers to learning and participation through a collaborative investigation of the schools cultures, policies and practices and to set new priorities for development (Booth Ainscow, 2002). Hence the identification of these barriers and devising methods to overcome them gain prime importance if we expect inclusivity to gain success and acceptance. Initiatives for school effectiveness are attracting global attention for their potential to build collaborative learning communities that support individual learner success. A research-based framework must be laid down to guide teacher learning and development toward school improvement. Social justice, equity and inclusivity must be considered as the foreground and measures to investigate relationships between enhanced student outcomes and school-based management practices, both social and academic (Hayes, Lingard Mills, 2001) must be devised. The need to focus on alignment of curriculum, pedagogy and assessment are central to effective schooling. Educators need to shift their pedagogical focus from testing and reporting on outcomes to supporting and improving outcomes from schooling. The development of positive and self-fulfilling values within all participants in education depends on building learner confidence within a supportive learning environment. This is true for all learners whether they are experienced teachers participating in school improvement processes or whether they are learners who have been disadvantaged within the educational system. For inclusivity to gain its full strength, the educational system should be equipped with teaching fraternity with the following attributes that include: awareness of the history of injustice as a result of discrimination against diversity, recognition and acceptance, (Henderson, 2001); and the ability to collaboratively implement innovations. A system with these attributes will be able to accept difference as the norm and enrich schooling through sensitivity and responsiveness to the diverse contexts of students lives.

The New York Crystal Palace :: Architecture History

The New York Crystal Palace: The Great Exhibition of Art and Industry "The Crystal Palace is a partial picture of the age; an exposition of the comforts and luxuries, the manners and attainments which belong to our civilization." -B. Silliman & C. R. Goodrich (The World of Science, Art and Industry at the Crystal Palace, New York, 1854) On July 14, 1853, the Great Exhibition of Art and Industry began in New York City, New York, with the commemoration of the Crystal Palace, the central exhibition hall. The next day, President Franklin Pierce inaugurated the event with a grand ceremony. Secretary of War Jefferson Davis was also on hand. Modeled on the Crystal Palace in Hyde Park, London, which had opened a few years earlier for the Exhibition of the Products of the Art and Industry of All Nations, New York's Crystal Palace was larger than its predecessor, and it inspired everyone who saw it. This exhibition included a display of sculpture that was probably the largest ever held in the United States up to that time. There was also a separate gallery for the display of paintings. It was the first world's fair to include a separate picture gallery as part of its exhibits. This image is Stuart's Topological Map of the Crystal Palace and Guide to the Revised Official Catalogue of the Exhibition of the Industries of All Nations. The map was prepared by Henri C. Stuart and published by G.P. Putnam and Co. for the use of visitors to the New York Crystal Palace. With the accompanying legend, visitors would be able to see the layout of all the exhibit classes in the building, as well as the entrances and stairways. As seen in this plan, all the room in the spacious building was used for displaying the different forms of industry. The position of the Machine Gallery in relation to the Crystal Palace can also be seen. The restrooms are between the Palace and the Gallery, adjacent to Saloon areas for the Gents and Ladies respectively. In addition, for the convenience of visitors, a note below the map states, "Wherever this sign (*) occurs on the diagram, is a prominent point of interest to the visitor." The sculptures displayed along the main naves are clearly labeled, so that one could use them as "You Are Here" signs to know where one was on the diagram.

Avatar Essay -- Film Review

Myths are supernatural or religious tales with cultural and historical backgrounds, often containing moral lessons that are valued by the culture they originated from. The movie Avatar is a modern myth, its popularity stemming from the inspiration it draws from familiar and widespread themes found in classical myths. Avatar reuses and refreshes these themes for current audiences. Ancient stories such as those of Icarus, Prometheus, Gilgamesh, and Hercules, as well as contemporary issues, represent many of the same themes that are revealed in Avatar. Avatar is the story of Jake Sully, a paraplegic marine that is sent to the world Pandora to take the place of his dead-brother's job as a Na’vi avatar pilot. The humans on Pandora use these avatars to communicate with the Na’vi and try to convince them to leave the Hometree, which is the pillar of life for the Na’vi; the humans want this so they can mine the element â€Å"unobtanium† the majority of which is located under Hometree. Jake initially pilots the avatar to achieve the military objectives that he is given, but over the course of the movie becomes initiated into the Na’vi culture through Neytiri and begins to disregard his orders. When the military commander finds out of Jake’s treason he gives the order to destroy Hometree and Jake is forced to reveal to the Na'vi his true intentions for piloting the avatar. This results in Jake being cast out of both the Na’vi and human societies. The humans then destroy the Hometree and man y of the Na’vi, Jake realizes that it is up to him to save the rest of the Na’vi and leads the resistance. To regain the trust of the Na’vi, Jake tames a Toruk, the most feared predator on Pandora. Through Jake’s leadership the Na’vi push back the humans and... ...is often seen as an invasion since many cities and innocent lives have been destroyed through this process. The outcome of this war is still being determined but based on the patterns of politics portrayed classical myths and Avatar it is clear that both sides will be greatly affected by the conflict. Avatar has been mocked as being highly derivative of other films and stories, but that merely shows how deep these same themes run in human psyche. Even in ancient times, the legends and tales contained similar issues and their heroes went through similar trials, showing just how important these things are to us as a race. The anxiety of doing too much and becoming too powerful is as widespread today as it was thousands of years ago. No matter the consequences we may face, humans will always try to reach just a little higher, and try to gain just a little more power.

Mental Categorization and Development :: Psychology Jean Piaget Essays

Mental Categorization and Development Missing Works Cited Jean Piaget, a Swiss psychologist, explained cognitive development in a way that may be useful in understanding the story of our story of evolution. He explained that in order to understand and function in our world, we organize thoughts and behaviors into systems, and are in a continual process of adapting our mental systems to better make sense of our surroundings. He calls these systems schemes and defines them as the basic building blocks of thinking, or tools for being able to mentally represent objects and events. They can be very simple like a scheme for throwing a ball, and get more complex like a scheme for playing baseball. Throughout development, new schemes arise and they become more organized to better make sense of the environment. Schemes become more complex and better organized through adaptation, which Piaget explains is a mixture of two different processes: assimilation and accommodation. Assimilation occurs when one makes sense of something in the environment by fitting it into an already established scheme. This may or may not work. For example, most things of similar body shape that swim in the water can be understood and fit into a fish scheme. However, when one encounters a whale, it may not fit into one ¡Ã‚ ¦s previous schemes, or what one understands to be a fish or a mammal. In that case, one has to accommodate, or change their schemes in order to make sense of new information. These processes most often don ¡Ã‚ ¦t occur in isolation, but are done together constantly to make sense of the world. In some situations, when the information we are getting from the environment is too complex, the information is left out entirely. As our understanding of the world expands, Piaget explains, it also divid es into categories. Expansion and fragmentation also seems to be a universal natural biological principal. Liquids and gases spread out to the boundaries of their containers, animals disperse on land, and humans have managed to explore even the uninhabitable territory of space. Animals often divide themselves into herds or flocks, while humans divide themselves into cultures, societies, and families. Expansion and division seem to be inherent and interconnected in other realms as well. The human constructs of religion and literature expand through time as they build on past stories. The more the wealth of knowledge, beliefs, and history expands, the more categories we define to separate them.

How Hardy and Steinbeck treat the theme of ‘outsiders’ in ‘The Withered Arm’ and ‘Of Mice and Men’ Essay

Hardy and Steinbeck both use the theme of outsiders strongly in their stories. The term ‘outsider’ means one who is not a member of a profession, party or circle or one not acquainted with or interested in something that is going on. A person can be an outsider for many different reasons for example loneliness, disability, gender, race, age, size and action. Steinbeck’s short story ‘Of Mice and Men’ was set on a ranch in California during the American Depression in the late 1930’s. The story is about two men Lennie and George. Lennie is mentally disabled so George looks after him. When Lennie and George first meet the boss’s son Curley he immediately feels threatened by Lennie’s size. Lennie and George go and work on the ranch because they want to save up their money so they can buy a ranch of their own. As the story progresses 2 other characters, Candy and Crooks, become interested in their idea and ask if they can help out. Lennie is given a puppy by Slim (another worker on the ranch). One time Lennie is petting it and does not know his own strength and kills it. Curley’s wife comes in and asks what is wrong he tells her what happened and that it only happened because he likes stroking things. She lets him stroke her hair because she thinks it is soft. Lennie gets carried away and won’t let go. Curley’s wife struggles so much that he breaks her neck. Lennie becomes so frightened that he runs away and just leaves the body. Curley sees his wife and says he is going to give Lennie a horrible death. George hears Curley and decides to kill Lennie himself quickly and painlessly. George finds Lennie and starts to talk about their dream ranch, he raises the gun and shoots Lennie in the back when he is not looking. Hardy’s novella ‘The Withered Arm’ was set in England in the 1800’s. It is about a woman named Rhoda who has a son with the owner of the dairy farm at which she works. But now the farmer does not want to know her and is married to a younger prettier woman. Rhoda wanted to know what the new wife looked like so she sent her son to go and see. The son came back and told Rhoda what she was like. Rhoda had a dream, she dreamt that Farmer Lodge’s new wife was sitting on her and she thrust her left arm with her wedding ring on into Rhoda’s face. Rhoda grabbed her arm and threw her to the floor. The next day the farmers new wife visited Rhoda and revealed to Rhoda some marks on her left arm. A few weeks later Gertrude (Farmer Lodge’s wife) came back to see Rhoda and showed her that the marks on her arm were getting worse. Months later Gertrude goes to see a conjuror who makes an egg mixture which shows Rhoda’s face and says that to cure her arm Gertrude must touch the neck of a man who has been hung before he goes cold. Rhoda and her son leave and were never seen leaving. Gertrude found out when the next hanging was taking place and she then travelled to the jail. After the hanging she was shown where the body was. As she touched the body somebody behind her screamed. Gertrude turned around and saw Rhoda and Farmer Lodge standing there. The dead boy was Rhoda’s son. A few days later Gertrude passed away with shock. There are four main outsiders in ‘Of Mice and Men’ and also in ‘The Withered Arm’. The outsiders in ‘Of Mice and Men are Crooks, Candy, Lennie and Curley’s wife and in ‘The Withered Arm’ they are Rhoda, Gertrude, Farmer Lodge and Rhoda’s son. Crooks is an outsider in ‘Of Mice and Men’ because he is black and everybody else on the ranch is white so he is branded as different. A moment in the story where Crooks’ loneliness is shown is when Lennie comes into his room: â€Å"You go on get outa my room. I ain’t wanted in the bunkhouse and you ain’t wanted in my room† This shows that Crooks is not allowed to go in their rooms invading their private space so he does not want them coming in his room doing that, if he is not allowed to do it. An outsider in ‘The Withered Arm’ Rhoda. She is and outsider because she has a son with Farmer Lodge and does not talk to any of the other workers at the dairy farm, so they think she is stuck-up: ‘†¦as the milkmaid spoke she turned her face so that she could glance past her cow’s tail to the other side of the barton, where a thin fading woman of thirty milked somewhat apart from the rest.’ This is a part in the story where Rhoda is at work at the dairy farm and all the other workers are talking about Farmer Lodge’s new wife. Rhoda does not join in the conversation for obvious reasons, but as they talk the workers look over at her. Candy is another outsider in ‘Of Mice and Men’. He is an outsider because he is older than any of the other workers. A part in the story where Candy’s loneliness is visible is when his dog is taken from him and shot by some of the other workers because they are sick of the smell of it: â€Å"Candy did not answer. The silence fell on the room again†¦Ã¢â‚¬ ¦Candy lay still staring at the ceiling† Candy did not want his dog to be killed because it was his friend, but when it is killed he feels lonely as if he has got no one left. Farmer Lodge is also an outsider in ‘The Withered Arm’. He is an outsider because he is older than any of the other workers and he is rich, which everybody else is not. When he marries his new wife Gertrude they see him as being lonely because he has married a younger woman. Curley’s wife is an outsider because in ‘Of Mice and Men’ she has just married Curley and moved to the ranch, which his dad owns. All the other workers think she must be lonely because she is always seen wandering around the ranch, she is never seen with Curley. Similarly Gertrude is an outsider in ‘The Withered Arm’ because she has just married Farmer Lodge and moved to his home. When she comes home with Farmer Lodge everybody is talking about her ‘Who is she?’ and ‘What does she look like?’ so this must make her fell as though people are talking at her behind her back. In ‘Of Mice and Men’ Lennie is an outsider because he has a mental disability and is looked after by George. He is also does not know his own strength and hurts Curley, this incident makes him feel more vulnerable to the other workers: â€Å"Lennie smiled with his bruised mouth. ‘I didn’t want no trouble,’ he said. He walked toward the door†¦Ã¢â‚¬â„¢ In the same way Rhoda’s son is an outsider in ‘The Withered Arm’ because he is dominated by his mother and at the end when he is hung, he is wrongly accused of something because of injustice: â€Å"a young fellow deserved to be let off, this on does; only just turned eighteen, and only present by chance when the rick was fired’ This is the part in the story when Gertrude goes to see if there is any hangings happening the next day and is told about one, which is Rhoda’s son. The man who is telling her says he is innocent. Dreams are featured a lot in both stories. Lennie, George and Candy have a dream in ‘Of Mice and Men’ to own their own ranch: â€Å"We’ll have a big vegetable patch and a rabbit-hutch and chickens.† Lennie and George at first are going to buy the ranch by themselves but then Lennie accidentally tells Candy, so George lets him help them. Curley’s wife also has a dream to become an actress and be respected. In ‘The Withered Arm’ Rhoda has a dream about Gertrude sitting on her with the wedding ring on: â€Å"the young wife, in the pale silk dress and white bonnet†¦Ã¢â‚¬ ¦the figure thrust forward its left hand mockingly, so as to make the wedding ring it wore glitter in Rhoda’s eyes†¦Ã¢â‚¬ ¦swung out her right hand seized the confronting spectre by its obtrusive left arm, and whirled it backward to the floor† However in this story the dream comes true because Gertrude visits Rhoda and shows her the marks on her arm. In ‘Of Mice and Men’ the style is mainly conversational, we learn about events through dialogue. Through language we can tell that the boss is aloof to the workers. The language is like a child’s when Lennie is moving; he is described like an animal. This story is known as a novella. It deals with poor and working class people. In ‘The Withered Arm’ the style is also conversational, we learn about Rhoda at the beginning through conversation. It is third person narrative and in the past tense. This story is known as a short story. Through language we can also tell that the boss is aloof to the workers. This story also deals with poor and working class people. The settings are very similar, as they are both set on a farm in remote areas of the countries in which they are set. ‘The Withered Arm is set on a dairy farm in England but ‘Of Mice and Men’ is set on a ranch in California.

Informative Speech Outline Essay

* Introduction Attention getter * Are you proud to be a Malaysian? Well, I’m proud to be a Malaysian but what happened recently make me thinking? Our country, Malaysia has become a very popular and favourite spot for dumping, not the usual garbage dumping but it is – the baby dumping. Baby dumping means the act of throwing away the babies at any place without taken care the babies. Based on Bukit Aman Police Headquarters statistics, it was found a total of 580 babies were found dumped between years 2000-2006. This number of cases increase every year where as much as 65 baby dumping cases has increased to 83 cases in the year 2006. In the first five months, almost every day there are reports on dumped baby cases. Year 2010 also known as Year of Baby Dumping cases and this has brought a lots of question and issues. Surely, all of us have heard about fruit season and others, but do you ever heard of baby dumping season? New Year celebration and Valentine’s Day are known as mating season nowadays which leads to unwanted pregnancies among youth and obviously, leads to baby dumping cases which can be easily read in the mass media. Reason to listen * The news nowadays are so horrifying such as ‘’Body of Baby Found in Dustbin’’, ‘’Dogs Found Baby in Trash Bag’’ and many others. The case of baby dumping has been more serious from time to time in Malaysia. Thesis statement * Baby dumping especially among youth is a serious social crisis and has a chronic increase in Malaysia. Credibility statement * The baby dumping case has touched my heart upon seeing the pictures of the baby being dumped in a very unethical and inhuman way. * I have read and studied about baby dumping in Malaysia, and have done research on the Internet. Preview of main point * First I will discuss about the cause of baby dumping * Second, I will discuss about the effect of baby dumping * And lastly, I will discuss about the possible prevention of baby dumping cases I. There are several causes that may lead to baby dumping cases that have been identified from various studies Extreme celebration of certain events * The occasions were celebrated in a very extreme manner and indirectly encourage to free sex which resulted in baby dumping cases. * Those extreme celebration is originated from the west which ‘’did not sit well’’ with our culture in Malaysia. Sexual abuse * They are usually dumping their babies due to the feeling of being betrayed by the baby’s father and also the feeling of being used. * If the woman is being sexually abuse, they are tending to disposed before or after the child’s birth. Loosening of social problem * Due to high phase of modernisation and development, social control system has become loosening up. * Neighbourliness, which should become an agent of social control system to curtail the social ills has become waning. * Schools are also not being sensitive to the students as they are engrossed to the academic and examination result. * Parents did not well-supervise their child as they tend to believe that their children are good and due to time constraints as many parents are working. * Lack of sex education and pornography also leads to the baby dumping cases. Transition: Now that I’ve discussed the causes of baby dumping, I will now discuss the effect of baby dumping case. Baby dumping will directly affect three parties that are the mothers, baby and the society itself Effect to the mother * The mother’s may have the risk of death due to the bleeding during the child’s birth. * They will be expelled from schools or educational institutions * Will be charged for attempting murder if the baby were still alive and charge for murder penalty if the baby is dead. * Feeling pressure from family, friends and the surrounding and most importantly is the feeling of guilty. Effect to the baby * The baby unable to grow up in a proper way, feel unloved and alone. * They also may have the possibilities of having birth defect and low body immunity. Effect to the society * It will bring bad image to the society Transition: now that we had known the cause of baby dumping, let’s move on to the next main point that is the prevention of baby dumping cases. Responsibilities of preventing baby dumping cases lies on the shoulder of everyone Individual * By being close to the religion, it can prevent the youth from get stuck on social ills such as free sex that leads to baby dumping. * Take a maximum care and control yourself. Parents, society and schools * Parents and the schools need to play important roles to teach their child to become good in behaviour. * They need to educate their child, not frightening them so that if they are having problems and difficulties, they are not hiding it from the parents. * Teaching them to stay out from sexual relationships * Conclusion A. Review of main points * Today I have discussed about: i. The cause of baby dumping ii. The effect of baby dumping iii. The possible solution for baby dumping cases B. Restate thesis * Baby dumping especially among youth is a serious social crisis and has a chronic increase in Malaysia. Closure * As the conclusion, baby dumping cases will not end without any solution or intervention from all as we do not want any more babies to die. * It is true that baby dumping case is the prevention of baby dumping lies in the shoulder of the parents, school and society to tackle it, however, it stills boil down to individual responsibility. The youths need to take full control and take a maximum care towards their self. * Everyone has the chance to change their self. As quoted by Zig Ziglar; ‘’If you don’t like who you are and where you are, don’t worry about it because you’re not stuck either with who you are or where you are. You can grow. You can change .You can be more than you are.’’

Cheat Sheet for Strategic Management

M&A & Restructuring Strategies. Merger: Two Firms agree to integrate operations on relatively equal basis(usually 1 dominates another in mkt share/size/asset value) Hostile takeover: (delivers higher shareholder value than friendly acquires)(Preannouncement returns of hostile takeover anticipated with increase in bidder & target's share price). Diversification creates value by using excess resource. Restructuring used to correct with ineffective mergers/acquisitions. M used as means of growth to potentially lead to strategic competitiveness. ?ing ext env affect type of M used. M used cuz of uncertainty in competitive l. )Increase market power due to competitive threat 2)Spread risk due to uncertainty 3)Shift core biz to diff mkts 4)Manage industry & regulatory ? s. –> Increases strategic competitiveness & value. Shareholders of acquired firm earn above avg returns while shareholders of acquiring firm earn ~0 returns. Reflects investors' scepticism of projected synergies. Reaso ns for Acquisition 1)Increased mkt power(horizontal,vertical,related, sbjct to regulatory review & financial mkt analysis)able to sell good/service above competitive levels/costs of its primary or support activities lower than competitors.Buy competitor/supplier/distributer to Increase size, resource & capabilities. Horizontal Acq helps to exploit cost-based & revenue synergies. Better Most effective when integrate assets with acqed firm. Vertical Acqsitions controls additional parts of value chain. (CVS/Caremark)Related acquisitions(acqing firm in related industry). Create value thru synergy by integrating resource & capabilities. 2)Overcome entry barriers. Help gain immediate access to international markets. Higher the barrier, higher chance firm will acquire. )Cross-border acquisitions(made btwn companies with HQs in diff ctys) global M declined in financial crisis. Chinese companies seek horizontal cross-border acqtns of natural resource. India seek access to pdt innovation capa bilities & new br/distribution channels. 4)Cost of new product development & increased speed to mkt. Gain access to new pdts & to current pdts new to firm. Pharmaceutical firms. 5)Lower risk than developing new products. Acquisitions may become a substitute for innovation. Acquisitions shld always be strategic than defensive 6)Increased Diversification.Diff for companies to develop pdts that differ from current lines for mkts in which they lack experience. Acquisition strategies used to support unrelated & related diversification stgies. More related firms are, greater prob acq is successful. Horizontal & related acqs contribute more to strategic competitiveness. Cisco. 7)Avoid excessive competition 8)Reshaping firm's competitive scope(Lessen dependence on specific mkts) 9)Learn & developing new capabilities. Broadens their knowledge base & reduce inertia. Acquire good talent through cross-border acqtns.Seek to acquire diff but related & complementary capabilities to build own knowl edge base. Biological Drugs, AstraZeneca. Problems in achieving Acquisition success Greater success accrues to (select right target, avoid high premium by doing due dilligence, integrate operations,retain human capital to underst& target firm's operations) 1)Integration difficulties (cultures,diff financia & control systems, working relationships, resolve problems of status of acqed firm's executives) 2)Inadequate evaluation of target.Due diligence – Potential acquirer evaluates target firm for acquisition. Done by investment bankers,accountatnts,lawyers,mgmt consultants. Without due dilligence, purchase price is made by pricing of other ‘comparable' acquisitions than rigorous assessment of where,when,how mgmt can drive real perf gains. â€Å"bidding war† 3)Large & Extraordinary debt. Firms increase debt to finance acqtns. E. g. Junk Bonds. High debt increases chance of bankruptcy, downgrading credit rating & firm may divest some assets to relieve burden to remai n solvent. )Inability to achieve Synergy. Assets worth more when used tgt than seperately. Created by efficiences from EOS, EOSC & sharing resources. Private synergy(combining & integrating target firm & acquiring firm's assets yield capabilities & core competencies that couldn't be developed by integrating either firm's assets with another firm. Transaction costs to acquire & create synergies (indirect & direct) 5)Overdiversification Related diversification outperforms unrelated.Related diversification req more info processing, thus being overdiversified with smaller no. of biz units than unrelated. Scope created by over diversification causes mangers to rely on financial than strategic controls. Tendencyfor acquisitions to become substitutes for innovation. 6)Managers over focus on acqusitions Managers need to: search for viable c, complete due dilligence, prepare negotiations & manage integration process, can divert attention. 7)Too large –> Bureaucratic controls, stifling innovation.Effective Acquisitions Complementary Assets/resources(meet current needs to build competitiveness, high synergy & competitive advantage), Friendly acquisitions(lower premiums,faster & effective integration), Due dilligence(overpayment avoided), Maintain Financial slack(Acquired firm has slack, financing is easier/cheaper), Low-moderate debt(lower risk/financing cost),Sustained emphasis on R of acqing firm (maintain LT CA in mkts), Acqing firm is flexible (faster/effective integration for synergy) Restructuring (firm ? s its set of biz or financial structure).Deal with failure of acquisition/? s in ext or int env. Downsizing (reduction in no. of employee/operating units but may change the composition of biz in company portfolio) used when paid too high premium, reduce duplicate functional jobs. Downscoping(divesture,spin-off to eliminate biz unrelated to firm's core biz) Refocus on core biz Leverage Buyouts(party buys all of firm's assets with debt to take firm private). Restructure & sell. Management buyouts, Employee buyouts, whole-firm buy outs(purchase whole than part of firm). MBOs lead to downscoping, strategic focus, improved performance.Downsizing-;reduced labour costs(ST) -; loss of human capital/lower performance(LT). Downscoping-; reduced debt costs/emphasis on strategic controls(ST)-;higher performance(LT). LBOs-;emphasis on strategic controls/high debt cost(ST)-;higher performance/risk[creates ST & risk-averse managerial focus](LT) International StrategyRationale for international diversification is to extend product life cycle. 4 benefits of using international strategy: 1)Increase market size (size of international mkt affect firm's willingness to invest in R&D to build CA in that mkt.Firm prefer to invest more in cty with scientific knowledge&talent to produce value creating product & processes 2)increased EOS & learning (Firm able to exploit core competencies through resource&knowledge sharing btwn units & network partners across bo rders. New learning opportunities. BUT, firms need to have strong R&D system to absorb knowledge) 3)develop CA through location(lower basic cost of gds/services. Gain access to critical supplies/customers. Reduce liability of foreignness if low cultural distance) 4)return on investment (Generate above-avg ROI) International BL Strategies(cost leadership, differentiated, focus, integrated).Determinants of National Advantage: 1)Factors of production. Basic Factors. Advanced Factors(digital comm systems & educated workforce). Generalized factors(highway system/ss of debt capital). Specialized Factors(skilled personnel in specific indsty). 2)Dem& conditions(nature/size of buyer's needs in home market for industry's gds/services) Large mkt sgmt produce dem& to create scaleefficient facilities. 3)Related & Supporting Industries (Italy's leather-processing industry provides leather to produce shoes. Supporting indstry & design services contribute to success of shoe industry.Cameras & copie rs are related industries in Japan) 4)Firm strategy, structure & rivalry(Germany technical training system for continuous product & process improvements. Italy designers. Japan cooperative & competitive systems facilitate cross-functional management of complex assembly operations. US compt btwn computer & software producers increase development). The factors are likely to produce CA when firm develops & implements an appropriate strategy that take advantage of distinct cty factors. International CL Strategy (scope of firm's operations thru pdct & geog diversification) Unilever Multi-domestic Strategy.Decentralized decisions to SBUs. ! less knowledge sharing for firm as a whole =(no economies of scale,costly. Global strategy(centralized control at home office. SBUs interdependent to achieve integration across bizs) EOS. =( forgo growth opp in local mkts. CEMEX Transnational Strategy Flexible Coordination is required-Building shared vision & individual commitment thru integrated netwo rk. Starbucks China Environmental Trends :Liability of foreignness relative to domestic competitors. Regionalization(more similar culture, legal social norms)EU & NAFTA promotes regionalization.Internatonal Entry Mode 1)Exporting (exporters must establish some means of marketing & distribution) ! high transportation costs, tariffs, less control of products, pay distributer fee,diff to market competitive product/provide customization to international mkt, Exchange rates volatility. 2)Licensing (purchase right to manufacture/sell firms pdts by paying a royalty)~exp& returns based on prior innovation. low cost, low risk ! little control, low returns. 3)Strategic Alliances(uncertain env) ~shared costs/risks/resources, gain access to new technologies, no tariffs! roblem integrating btwn partners (2 cultures) 4)Acquisitions(quicker) ~quick access to new mkt ! high cost(debt), complex negotiations, prob merging with domestic operations 5)New Wholly Owned Subsidiary(Green Field venture) ~Ma x control, potential above-avg returns ! complex, costly, time consuming, high risk. Export,licensing & strategic alliance good for early market development. Joint venture/greenfield venture -> IP rights not protected, high need for global integration, growing no. of competitors. Strategic competitive outcomes 1)Enhanced returns.Decrease initially, then increase. Diversifying geographically into core biz areas positive effect on stock price. Offshore outsourcing created sig value-creation opp as firms move into flexible labor mkts. 2)Enhanced innovation. Exposure to new pdcts & mkts. Opp to integrate new knowledge into operations. Generation of resources to sustain innovation. Risks in international environment 1)Politcal Risk. Govt instability/regulations/corruption/conflict/war/conflicting & diverse legal authorities/potential nationalization of private assets/? s in govt policy 2)Economic risk.Govt oversigh & control of economic&financial capital/weak IP rights&protections impact FDI/terrorism/investment losses from political risk/security risk of foreign firms acquiring key natural resources or strategic IP. Cooperative Strategy(shared objective) Strategic alliance(firms combine resources&capabilities to create CA) Leverage existing resource/capabilities to develop additional resources/capabilities for new CAs. Collaborative/relational Advantage-CA developed through a cooperative strategy. 3 Types of Strategic Alliances: 1)Joint Venture.Siemens AG & Fujitsu -> Fujitsu Siemens Computers (Own equal % & contribute equally. 2 or more firm create legally independent company to share some resources/capabilities to develop CA). Optimal when firms need to create a CA that is diff from individual advantages & when highly uncertain hypercompetitive markets are targeted. 2)Equity. Baidu & Japanese telecom operator NTT DOCOMO (2or more firms own diff % of company they formed to create CA, e. g. many FDIs such as companies from multiple countries are making in China) 3 )Non-equity. HP (2 or more firms develop contractual relationship to create CA.Firm DOES NOT establish separate independent company thus don't take equity positions)-; less formal, fewer commitments & no intimate relationship. E. g. licensing/distribution agreements & supply contract. Reasons firm develop Strategic Alliances Allow partners to create value they couldn't develop alone & to enter markets faster with greater penetration. Firms lack full resources & capabilities to reach their objectives. Slow cyclemkt: Gain access to restricted mkt. Establish a franchise in a new mkt. Maintain mkt stability(establishing st&ards). Fast-cycle mkt: Speed up development of new goods/services.Speed up new market entry. Maintain market leadership. Form an industry technology st&ard(). Share risky R&D expenses. Overcome uncertainty. St&ard-cycle mkt: Gain mkt power(reduce industry overcapacity). Gain access to complementary resources. Establish better EOS. Overcome trade barriers. Meet competi tive challenges frm other competitors. Pool resources for large projects. Learn new biz techniques. BL Cooperative Strategy 1)Complementary Strategic Alliances (Vertical, horizontal) -firms share r&c in complementary ways to develop CAs. More value-creating than other strategies.Vertical(from diff stages of value chain e. g. Nintendo) Horizontal(same stage(s) of value chain to create CAs. ) 2)Competition response strategy(to competitor's attacks). Becuz they can be diff to reverse & exp t operate, strategic alliances are formed to take strategic than tactical actions to respond to attacks. 3)Uncertainty reducing strategy (new pdt mkts/emerging economies 4)Competition-reducing strategy (explicit/tacit collusions) Tacit collusion – Firms in industry indirectly coordinate their production & pricing decisions by observing each other actions/responses.Results in output below fully competitive levels & above fully competitive prices. !reduce service quality, on-time performance. Mu tual forbearance- Form of tacit collusion where firms dont take actions against rivals they meet in multiple mkts. Assessment: R integrated MUST be VCRN. vertical strategy have greatest probability of creating sustainable CA. CL Cooperative Strategy. Firm use this strategy to diversify in pdts offered/markets served. Diversify by means other than M. Require fewer resource commitments, greater flexibility. 1)Diversifying S/A !Highly diverse network of alliances can lead to poorer performance by partner firms. 2)Synergistic S/A(create EOScope across multiple functions/bizs btwn partners) 3) Franchising (contractual relationship to describe/control sharing of its R with partners) Advantages: Attractive strategy for fragmented industry(retailing,hotels,motels) where large number of small/med firms compete without one having a dominant share. Assessment: Alliance costs needs monitoring. International Cooperative Strategy 1)Cross-border alliance(firms with HQs in diff nations decide to co mbine some R to create CA & value).Incentives: limited domestic growth opp, foreign govt economic policies. China & India have strong preference to license local companies. Strategic alliance with local partners help firms overcome liability of foreignness. Operational advantages due to local market information. Network cooperative strategy (several firms form multiple partnerships to achieve shared objectives) Particularly effective when formed by geographically clustered firms. Gain heterogeneous info & knowledge from multiple sources. ! lock in partnerships precluding alliance with others.Stable Alliance network (mature industries where dem& is constant & predictable) Built primarily to exploit EOS/EOScope existing btwn partners e. g. airline industry Dynamic Alliance Network (frequent product innovations & short pdct lifecycle) Competitive risks: Inadequate contracts. Misrepresentation of competencies. Partners may act opportunistically. Partners fail to use their complementary resources. Holding alliance partner's specific investments hostage. Risk&Asset Management Approaches:Detailed contracts & monitoring. Develop trusting relationships -> create value.Managing cooperative strategies: Cost minimization(Firm develops formal contracts with partners specifying how strategy is to be monitored & how partner behavior is controlled) Opportunity maximization(Maximize partnership's value-creating opportunities) Corporate Governance – Set of mechanisms used to manage the relationship among stakeholders & to determine & control the strategic direction & performance of organizations.. It is concerned with: Strengthening effectiveness of company's board of directors. Verifying transparency of firm's operations. Enhancing accountability to shareholders.Incentivizing executives. Maximizing value creation for stakeholders & shareholders. Separation of Ownership & Managerial control. Allows each group to focus on what it does best: Shareholders bears risk that fi rm's expenses exceed revenue (shareholders will hold a diversified portfolio to diversify risk). Managers formulate & implement strategy & decision-making. Agency relationships(between firm's owner & top-level managers) Managerial opportunism seeking self-interest with deceit. An attitude & set of behaviors. Prevents maximization of shareholder's wealth.Product Diversification as Agency Problem 1)Diversification increase size/complexity & thus managerial compensation. 2)Reduces manger's employment risk as a firm & its managers are less vulnerable to reduction in dem& associated with a single/limited no. of product lines/bizs. 3)Managers have control of firm's free cash flows which they invest to diversify instead of giving to shareholders. Shareholders like a diversified position between dominant & related-constrained diversification strategies. Shareholders prefer riskier strategies & more focused diversification. Managers prefer higher levels of product diversification.Managers ma y prefer level of diversification that maximises firm size & compensation while reducing employment risk. Agency costs – sum of incentive/monitoring/enforcement costs, individual financial losses incurred by principals because of agents. 3 internal governance mechanism 1)Ownership Concentration (No. of large-block shareholders & total percentage of shares they own) X Diffuse ownership (large number of shareholders with small holdings & few large-block shareholders) Large-block shareholders are active in their dem&s that corporations adopt effective governance mechanisms.Ownership of many modern corporations now concentrated in h&s of institutional investors than individual shareholders. Institutional owners (financial institutions that control large-block shareholder positions) They are powerful governance mechanism. They have both size & incentive to discipline ineffective top-level managers. 2)Board of Directors (group of elected individuals to formally monitor & control ma nagers in order to act in owner's best interests) Insiders – Firm's CEO & other top-level managers. Related outsiders – Individuals not involved with firm's daily operations but have relationship with firm.Outsiders – provide independent counsel to firm & may hold managerial positions in their company. Outsiders have no firm info & thus emphasize use of financial than strategic controls to evaluate firm. Shifts risk to managers who make decision to maximise their interest & reduce employment risk. Enhance effectiveness of BOD 1. Increase diversity 2. Strengthen internal management & accounting control systems 3. Establish consistent use of formal processes to evaluate BOD performance 4. Creation of ‘lead director' 5. Compensation of director, reduce stock options. )Executive Compensation Use LT incentive plans. Effectiveness: don't link pay to financial outcomes. Manager may focus ST effects to enhance pay. Other factors also affect firm's performance whic h are not under manager's control. Market for Corporate Control (external governance mechanism. The market is a set of potential owners seeking to acquire undervalued firms & earn above average ROIs by replacing ineffective top-level management teams) Used only when internal controls fail. â€Å"Golden parachutes† help them leave while â€Å"Golden hellos† help them to get in the door of the next firm.Hostile Takeover Defensive Strategies â€Å"Poison pill† allows shareholders to convert their rights into large no. of common shares if anyone acquires more than set amount of target's stock to dilute percentage f shares acquiring firm must purchase at premium. Litigation – Lawsuits that help target company stall hostile attacks e. g. antitrust,fraud. Greenmail – repurchase of stocks from agressor at premium for agreement to no longer be targeted for takeover. Standstill agreement – Contract btwn parties in which pursuer agrees not to acquire a ny more stock for specified period for a fee.Capital structure change – Dilution of stock, making it costly for bidder to acquire e. g. recapitalization, new debt, share buybacks, stock selling) Corporate charter amendment – Ammendment to stagger elections of members to the BOD of attacked firm so that all are not elected same year, preventing bidder to install new board in same year. Corporate governance in Germany: 2 tiered board structure, place responsibility of monitoring & controlling managerial decisions & actions with separate groups. Banks exercise sig power as source of financing. Power sharing includes representation from community & unions.Corporate Governance in Japan: Cultural concepts of obligation, family & consensus. Close relationship btwn stakeholder & company through cross-shareholding can negatively impact efficiencies. Keiretsus: Strongly interrelated groups of firms tied tgt by cross-shareholdings. Banks are highly influential with firm's manager s. Global Corporate Governance: Relatively uniform governance structures, moving closer to US corporate governance model. Organizational Structure & Control. Organizational Structure – Specifies firm's formal reporting relationships, procedures, controls, authority & decision-making processes.Curcial to match structure with strategy! Controls guide the use of strategy, indicate how to compare actual results with expected results, & suggest corrective actions to take when the difference is unacceptable. Strategic Controls – Largely subjective criteria intended to verify that the firm is using appropriate strategies for theconditions in the external environment & the company’s competitive advantages. Strategic controls are concerned with examining the fit between: What the firm might do (opportunities in its external environment) What the firm can do (competitive advantages).Evaluate the degree to which the firm focuses on the requirements to implement strategy: B L:primary activities. CL(related): sharing of knowledge, markets, technologies across bizs. Financial Controls objective criteria used to measure firm's performance against previously established st&ards. Focus on ST outcomes. ROI, ROA, EVA(economic value addedmarket based measure). ! produces risk-adverse managerial decisions. Essential for unrelated diversification! Simple Structure (owner manager makes all major decisions & monitors activities) Few rules, limited task specialization, basic tech system.Functional Structure(CEO & limited corporate staff make decisions. Functional line managers present. functional specialization from active sharing. ! impedes comm. & cordination among functional areas. Multi-divisional Structure. Operating divisions represent separate biz / profit center. Top corporate officer delegates responsibilities for daily operations & business unit strategies to division managers. ~Ties together all operating divisions. Enables more accurate monitoring of p erformance of each unit. Facilitates comparisons between divisions.Stimulates managers to look for improvements. Matches between BL strategies & Functional Structure 1)For cost leadership strategyWalmart (simple reporting structure, few layers in decision-making & authority, centralized in a staff function. Job specialized.. 2) For differentiation strategy. Complex & flexible reporting relationship, freq use of cross-functional product development teams, strong focus on mkting & R&D. Few formal rules & procedures. Jobs not specialized. Decentralized. 3)For integrated cost leadership/differentiation strategy.Diff primary & support activities emphasized. Match between CL Strategy & Multi-divisional Structure(M-form) 1)Cooperative form for related-constrained. Centralized at corporate office; Extensive use of integration mechanism; emphasis on strategic criteria; linked to overall corporate performance. Frequent direct contact btwn division managers. Liason roles in each divisions redu ce time integrating with work occurring in other divisions. Matrix Organization might be formed(dual structure combining both functional specialization & biz product or project specialization.Cooperation among divisions implies loss of managerial autonomy -> managers hesitatnt to cooperate. Use strategic controls to evaluate manager on how well they cooperate. 2)SBUForm for related-linked strategy ! coordination between SBUs is hard. Diff to communicate complex biz model to shareholders. 3)Competitive form for Unrelated Diversification Strategy Decentralized to divisions; no integration mechanism; emphasize on financial criteria; linked to divisional performance. Finance & Auditing & Legal Affairs 2nd tier. Divisions 3 tier. ~internal competition creates flexibility; resources allocated to most potential division.Challenges the status quo & inertia. Motivates efforts due to funding if u are an efficient division. Matches btwn International Strategies & World-wide structure 1)Worldwi de Geog Area for Multidomestic Strategy. Decentralization to business units in each country. No integration mechanisms. Informal coordination ! inability to create global efficiency 2)Worldwide Product Divisional Structure for Global Strategy. Aims to gain EOS & EOSC;Centralized. Integrating mechanism important(e. g. Direct contact btwn managers, liaison roles btwn departments). inability to quikly respond to local needs & preferences; difficulty in coordinating decisions across borders. 3)Combination Structure for Transnational Strategy Global Matrix. ~flexibility in designing products & responding to customer needs. ! employee accountable to 2 boss. Difficult to be simultaneously loyal to both. Can be member of several functional or product group teams. Difficult & time consuming for approval. Hybrid Structure. (some divisions oriented to products while others oriented toward market areas) Matches btwn Cooperative Strategies & Network Structures.Strategic network (group of firms f ormed to create value by participating in multiple cooperative arrangements) can be a form of CA when operations create value that is hard to imitate. Used to implement BL, CL & International Strategies. Strategic center firm(main firm) does: Strategic outsourcing, seek ways to support members effort to develop Core competencies, Manage development & sharing of technology-based ideas(req formal reports of technology-orientated outcomes of their efforts),Emphasizes principal competition are btwn value chains & between networks of value chains.Centralized. Strategic network for BL Cooperative Strategy(horizontal,vertical Chp 9), CL Cooperative Strategies & International Cooperative Strategies(Distributed strategic networks -Several regional strategic centre firms are included in dist network to manage partner firms' multiple cooperative arrangements)