Personal Values And Beliefs And Values - 872 Words

Personal values and beliefs My personal beliefs and values are on par with the present health care policy in the United States (U.S.). I value and believe in compassion, empathy and respect. People have the right to access basic medical care when they are sick. So, there should be universal healthcare for the people at a cost that is affordable to them. The health care charge must be on the basis of income with a cap. The people who are under the poverty line should receive health care at free of cost. As the income level increases, there should be a reasonable increase in the cost. I have learned and believe in trying to save all lives, using the necessary resources. All lives are valuable to me. Nursing, being the care of people sick or well in all settings values the concepts of promotion of health, prevention of illness, caring the ill, disabled and the dying. Hence, the nurses believe in advocacy, promotion of a safe environment, research and health policy-making (International Council of Nurses [ICN], 20 15). Beliefs and Opinions about the Health Care Policy The Affordable Care Act (ACA) helps provide the health care at an affordable price to everyone based on their income. Those who are in a certain range of income under the poverty line are eligible to have access to free health care. ACA has enabled more than 100 million Americans to have insurance and it helps reduce the rate of uninsured (Obamacare Facts, n.d.). Thereby, health promotion is possible throughShow MoreRelatedHealth Policy Values : Personal Values And Beliefs884 Words   |  4 PagesHealth Policy Values Personal Values and Beliefs As human beings, we all have our morals, beliefs, and mindsets that have developed throughout the direction of everyone’s lives. Our family, friends, community, and the involvements we have had all added to our purpose of who we are and how we analyze the world (The Gospel Coalition, 2014). Values are principles or standards that a person or group of people holds in great respect. These values direct the way this author lives, and the choices madeRead MorePersonal Values, Beliefs, And Attitudes1336 Words   |  6 Pagesbeings, we all have our own values, beliefs, and attitudes. These things develop over the course of our lifetime and at any point can change based on an experience that we may have. Our family, friends, community and the experiences we have had all contribute to our sense of who we are and how we view the world. Values, Beliefs, and a Little About Me Over the course of my life my values have changed based on circumstance. Currently if I had to list out my top five values in descending order they wouldRead MorePersonal values, belief and attitudes3993 Words   |  16 PagesPersonal values, belief and attitudes As human beings, we all have our own values, beliefs and attitudes that we have developed throughout the course of our lives. Our family, friends, community and the experiences we have had all contribute to our sense of who we are and how we view the world. As community services workers, we are often working with people who are vulnerable and/or who may live a lifestyle that mainstream society views as being different or unacceptable. If, as community servicesRead MorePersonal Core Values And Beliefs1489 Words   |  6 PagesSituation â€Å"Where’s the line between keeping your board informed and burdening the board with running the day-to-day business?† Personal Core Values and Beliefs It is important for board members to have some insight into the day-to-day operations of the organization since they technically are volunteers and donors. They dedicate time to governing the organization and financially contribute their own money and/or encourage others to do so. However, board members are generally busy people who doRead MorePersonal Values, Culture, And Religious Beliefs883 Words   |  4 PagesPersonal Values Personal values are derived from an individual’s idea of what is good, right, useful, or important. Values like honesty and discipline increase efficiency and will aid in being a positive example to others (Boundless, 2015). 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Throughout the abolition movement, both men and women slaves were trying to escape from slavery, and find their way to freedom in the North. Many of wrote their stories down. Some with the aid of ghost writers, and often under pseudonyms to protect their safety. These slave narratives spoke of the sufferings of the slaveRead MoreCreationism Vs. Creationism : Theories Based On Personal Beliefs, Religious Values, And Scientific Information951 Words   |  4 PagesBible without analysis or judgment. The Bible’s Old Testament was written around 1400 BC by the Israelites; thus, it can never be proved wrong because of its long-standing religious belief, that God created this universe. Though the world wants to choose between the two theories based on personal beliefs, religious values, and scientific information. 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Theories On Types Of Learners Education Essay Free Essays

string(24) " work in the hereafter\." Introduction The study aimed to size up and analyse the place of myself as a undergraduate, this undertaking has become a really good manner for myself to place and cognize my ain personality and preferable acquisition manners more better than earlier. I am able to cognize my personal strong and weaknesses through different type of trial I took. Those trial will propose some of the acquisition manner which suit me the most, and help me to derive a higher class on my survey life. We will write a custom essay sample on Theories On Types Of Learners Education Essay or any similar topic only for you Order Now Furthermore, this study aims to find my intrinsic personality type and my functions in a squad. In order to accomplish the above aims, trials like VARK Questionnaire, Myers-Briggs Personality Type, and Belbin Self Perception Team Role Profiles trial are able to find my personality type and my preferable learning manner. Every suggestion of the consequence of the trial will be addressed one time I answered all the inquiry. Besides that, remark from my household and friend was become a back uping grounds on the finding of my personality type and acquisition abilities. Based on the few trial I took and the remark of my household, I might be able to find where one stand today, and the truth of myself. Subsequently, I picked my future calling occupation based on the field I survey and ain involvement, making research to roll up more information which related with the occupation that I taken up, looking to the demand of the occupation and based on my skill-set to find myself whether that is a occupation which suit me. Section A: Who I am as a scholar 1.VARK Trial VARK is designed to analyze a scholar larning manner, and it ‘s besides determined a personal manner of a scholar. VARK is a really utile trial for every scholar, and VARK was elucidated and formulated by Fleming ( 2002 ) , and is based on the bing nuero-linguistic theoretical account which formulated by Eicher ( 1987 ) . VARK trial was divided into 4 different types of classs. It was VISUAL, AURAL, READ/WRITE and KINESTHETIC. Each scholars might be non truly cognize their ain acquisition manner sometimes, hence most of scholars know their learning manner through VARK Test. The intent of VARK trial is to find scholar larning manner and the result is based on the BASIC of favourite larning manner of scholars. Fleming ( 2007 ) says that VARK able to help scholars in their acknowledgment of their acquisition manners they most like. Following is a brief definition of VARK ( Fleming,1992, p274 ) Ocular: Learners who preferred learn by seeing. For illustration, utilizing picture, posting, images during presentations or talks. Aural: Learners who preferences learn by hearing. For illustration, seminars or talks that do non supply any ocular AIDSs. Read/Write: Learners who preferences learn by treating text. For illustration, there are able to read a full pages of words, and compose out a brief drumhead. Kinesthetic: Learners who preference towards larning, practical and sharing experiences for larning intents. Examples, experiment, pattern, simulations, picture cartridge holder etc. Ocular 11 Aural 11 Read/Write 8 Kinesthetic 11 Figure 1.1 – My VARK Test Mark On my VARK trial consequence, the trial has determined my single acquisition manners, and my ain position presents. The VARK Test depicted in the Appendix 1. Based on the consequence, I quite asynclitism on Visual, Aural and Kinesthetic, three of it is the highest mark in the trial, therefore VARK describes me as a multimodal scholar. The lowest mark is Read/write. I rather consent with the VARK consequence since I evaluate my survey life in Malaysia last twelvemonth. I have a penchant on lectors who used text books, PowerPoint slide, picture or talk notes which included diagram, graph or pie chart as their instruction stuffs. I found it easy to understand the talk through looking on those ocular AIDSs. Besides that, I quite easy focal point on the pictorials instead than reading a full pages of words of articles or notes which without image. Other than this, I ever had the wont of record the talks by utilizing MP3 Recorder in category and playback when I making alteration. Re-listen ing aid me to rectifying my notes and more clearer understanding about the talks. My strengths ever assisted me a batch in my survey life, I can understand the talks and absorb cognition faster than those pupils who prefer Read/Write. Based on the existent life experience of myself, when I study in INTI University College Malaysia, most of the lector is giving their talk by PowerPoint slides, so I tend to this learning manner. Additionally, I have inclination of making a presentation slide as notes after category everyday in order to guarantee that I do non lose out any point, clearer apprehension of the surveies lectures. I preferred listening music while doing up notes or do exercisings at the same time. My strength ever help me a batch in my survey life. That is the ground why my visual, aural and kinaesthetic is the highest mark in the VARK trial evidently, hence, I have to use my strengths sagely from now on until the terminal of my life. Apart of this, the VARK trial consequence proved that my failings in Read/ Write facet evidently, Fleming ( 2008 ) illustrate that turning words into ocular is another manner to better the failing of Read/Write. It means that I must set more attempt to better my Read/Write accomplishment and do it equal with the other 3 facets. I found it hard to understand those talks notes, larning stuff or text edition which merely screen by words, it was endure me ever, and I feel sleepy easy if I faced it quite a long period. In add-on, my failing be conspicuous when I go toing my seminar category. I have to better my Read/Write accomplishment from now on instantly in order to do certain that is non a trouble when I out to work in the hereafter. You read "Theories On Types Of Learners Education Essay" in category "Essay examples" 2. MBTI Test MBTI stands for Myers Briggs Type Indicator trial, it ‘s a trial based on Jung ‘s Theory of Personality Types. Paula A. A ; Martin. F ( 2009 ) defines that â€Å" The Myers-Briggs Type Indicator ( MBTI ) is a widely used personality stock list, or trial, employed in vocational, educational, and psychotherapy scenes to measure personality type in striplings and grownups age 14 and older † . ESTJ and INFP was carried out the different significance. extroversion ( E ) or invagination ( I ) feeling ( S ) or intuition ( N ) thought ( T ) or experiencing ( F ) judgment ( J ) or comprehending ( P ) MBTI trial be able to find the type of the scholars based on the reply of the respondents in the MBTI questionnaire. Charles R. Martin ( 1997 ) defines people who extraversion incline involve in event, outer universe, take portion in a batch of activities, work or play in groups, and like to do friends. while invagination defines a individual who is more inclined towards ain thought, sentiment, reaction etc. This type of people they more preferable making things with little group of people who they feel comfy or entirely. They are wholly different features if comparison with Extraversion. Molly ( 2008 ) defines that people who sensors incline to information they received from what they received and they will state the facts without any reading. Peoples who intuitive more slope to reading, inventive or â€Å" 6th sense † instead than merely state the facts. MyPersonality ( 2007 ) defines believing people are able to do their determination based on what they seen and they non like to believe or judge something ‘s may non based on logic. On the other custodies, experiencing people make their determination based on their feeling, they decides with bosom alternatively of facts. MyPersonality ( 2007 ) defines that people who judging they usually good at completing, they like to be aftering their things and responsible ever and command in events of a person. Besides that, people who comprehending they more preferable outward displayed. They are flexible and adaptable and they non good in organized. ISTJ 53 % ISFJ 67 % INFJ 50 % INTJ 36 % ISTP 42 % ISFP 74 % INFP 66 % INTP 34 % ESTP 58 % ESFP 72 % ENFP 55 % ENTP 41 % ESTJ 42 % ESFJ 74 % ENFJ 66 % ENTJ 34 % Figure 1.2: My MBTI Scores Deduction of MBTI Test Following, On my Myer Briggs Type Indicator trial mark, the trial has determined my single personality types and besides prove that I have two different personality type, it was ISFP and ESFJ, it was carried out 74 % each. The existent tabular array mark depicted on ( APPENDIX 2 ) . Team Technology ( 1995 ) describes the features of ESFJ individual are does non wish to populate entirely, they more prefer unrecorded within a group. Besides that, ESFJ type individual good in organized, societal, but they have an antipathy to unusual people or environment. This type of people is a good leader in a squad, they are eligible to actuate their member, stimulate squad spirit in order to construct harmoniousness, and form life on a personal footing. Additionally ISFP type is described by Team Technology ( 1995 ) individual usually more inclined to introspective feeling, they easy experience Moody, acquire hurt and dislike alteration. They express their energy towards the interior universe of ideas and emotions. other than this, ISFP individual prone to confusion, they are easy disturbed by other remark or judgement. The chiefly different between from ISFP and ESFJ Harmonizing to C.G.Jung ‘s Theory ( 1977 ) the first two missive in the type codification is the most of import, it ‘s called â€Å" dominant map † . For ESFJ, my dominant map is experiencing, it was more incline to Extraverted Feeling. I rather agree on the trial consequence, in my existent life, I ‘m precisely a individual who extrovert. I like to do friends, take portion of out-of-door activities to regulate the outer universe. I have an antipathy to conceal my look, I preferred express or voice out directly off. For case, I like to work with a group of people, since we can portion the different point of position and values, and do more friends. moreover, I tend to see other experiencing more than my ain, I seek to construct resonance with people, and constructing a strong relationship with people around me, therefore I turn into an of import function of audience in my pack of friends, they like to chew the fat with me. On the others custodies, I like to see something ‘s new, I prefer used my life clip to see different types of life manner or new environment that I ne’er had before, therefore I can accommodat e into the new life or new environment to the full in a short times ever. On the another manner unit of ammunition, I ever makes a concluding determination based on my ain basic personal values without interrupt by others. For ISFP, my dominant map is Introverted Feeling, i.e. oriented towards the interior universe. ISFP and ESFJ was happen on me at the same times, nevertheless, harmonizing to the consequence of MBTI trial, I might be non ever extraverted. Review my life, I am a individual who introverted before, I non truly good in build harmoniousness in the universe around me, or encouragement others. For illustration, when I working in a group last clip, I non like to depute my work to others, I prefer done it by myself due to i deficiency of assurance of others or alien, at the terminal, it ‘s conveying a batch of struggle between me and my group mates. However, my extremely assurance and introvert personality spoiled my friend web last clip, hence, I learn to be more Extrovert by spend a batch of times. ESFJ and ISFP non merely differ in Extraversion/Introversion, they besides differ in judgement / perceptual experience. For illustration, if I wish to be after my end, do my life go more stable and good organized, I will differ into judging. While, if I prefer to keep my life flexibleness, I will differ into perceptual experience. ESFJ and ISFP possibly occur at the same times, but it is more depend on the environment or the state of affairs. It ‘s besides called natural disposition by Team Technology ( 1995 ) . 3.BELBIN Trial DR Meredith Belbin ( 2003 ) defines a squad function as â€Å" A inclination to act, contribute and interrelate with others in a peculiar manner † . Scribd ( 2009 ) Belbin described the behaviour of a member, how their relationship with others among a squad. The accomplishments developed by Belbin team-role theory allow an single good understanding about their ain strong and failings, and how they conveyed their accomplishment into their occupation or a group. Belbin separate into nine Team Roles or bunch of behaviour. It was Plant, Resource Investigator, Co-ordinator, Shaper, Monitor Evaluator, Teamworker, Implementer, Completer Finisher and Specialist. Many of the director or employee was taking portion in this questionnaire to detect their ain Team Role penchants, and go a successful leader of a squads. Every of the squad functions can be adopted by different sort of people, it depend on their ain personality types. Application of Test I have been finish the BELBIN trial and the consequence of the trial ( refer Appendix 3 ) has determined and interpreted the assorted facets of my behaviour, harmonizing to the consequence of the trial, I ‘m suit to a occupation which I can utilize my abiding nature or habit covering with everyday responsibilities. The BELBIN trial was showed that I ‘m a individual who extrovert, enthusiastic, communicative, explores chances and develop contacts. Based on my personal experience and MBTI trial, it was a consequence which unswerving and precise. On my old portion clip occupation, I capable to get the better of obstructions with my household or my staff member. Since I ‘m a individual who extrovert and like to societal or research new chances, hence, I know a batch of friends, and develop a high repute among my friends and co-worker, they assist me no affair what job I faced. that is one of the grounds to turn out that I ‘m gave a good feeling to my friends for c ertain. I expand the circle of my life triumphant. The study of the trial besides indicated my failings i.e. may be uncomfortable when holding to cover with force per unit area, uninterested in covering with everyday responsibilities. I was agreed on this, I like to research chances and experience something ‘s new, I detestation making the same things invariably. Once I work under a group, I by and large cooperation with others and supply some utile thought to my group mates. In add-on, deficiency of patiently convey me into suffer one time I working under force per unit area, I ca n’t work out my job if force per unit area has come to me. Sometimes, even though the undertaking is easy, one time I gave myself excessively much of force per unit area, I may non execute good or complete it on times, and accordingly it act upon my spirit and besides affect the public presentation on the undermentioned undertaking. If I ca n’t let go of my emphasis or work out the job, a feeling of abandonment develops in my bosom acci dentally. The BELBIN study besides suggests that I treat anything new as a challenge, therefore leting me to released the emphasis that over sometimes, and they was promote me must larn to pull off my ain calling and self-development in a good thought out manner, and should look towards person who harmony, so merely my ain public presentation is likely to better. Drumhead Harmonizing to the consequence of the three trials I taken, it was proved that I am a multimodal scholar. I must use my strengths astutely and better my failings, so that I can heightening my ain personality and accomplishing an better result than old. The overall three trials, I know my-self better than few old ages ago, and I get ready to get the better of every obstructions that I face, and do non reluctance to make something ‘s may non accommodate my features. 4.Comment From My Family or Friends I received some of the remark from my siblings sentiment on me, harmonizing to their sentiment, it ‘s non truly closed with the result of the trials. It was non surprised me because during semester interruption or vacation, I prefer remaining at place for playing computing machine games or watching play in my room whole twenty-four hours long. due to the hapless communicating between me and my siblings or parents, I ever keep quiet when taking dinner with them or household yearss. Furthermore, I born from a household that concern traditional right and subjects, therefore, I remain quiet in order to avoid speaking something incorrect. From twelvemonth to twelvemonth, I non much interact with my household members, hence, this leads them to misconstruing about my personality and disagreed on me being an extravert, which I truly felt that I am. Section A: Part 2: Deduction for calling pick Lifelong acquisition Lifelong acquisition is a really critical portion in our life, with cognition, we are able to happen a good occupation, and stronger our place in the present competition state or occupation market. Besides that, cognition can construct up a positive mode and attitude to everyone. Therefore, we know how to take attention of each other ‘s or construct a good relationship with them. Alongside, the figure of grade graduated per twelvemonth was increasing quickly, that is the ground why the present occupation market is so competitory presents, and many company or organisation are traveling to use employees who keeping First category or Second category grade certification, while, we know that cognition was moving a really of import function for everyone and it ‘s basically applicable to everyone in the universe today. I need to use my cognition smartly in my life, and besides need to heighten my cognition base every bit much as I can. Knowles ( 1981 ) defined that acquisition is a womb-to-tomb procedure, it can last until the twenty-four hours we left the universe, we supposed to pass our leisure clip to deriving more cognition is better than merely remaining place for kiping or woolgathering. I am wholly agree with this account. Different stage of life was carry out a different womb-to-tomb acquisition manner, before we learn, we must clearly understand how of import of womb-to-tomb acquisition, how it actuate us and how it alter our subject. Besides that, Robotham ( 1995, cites at thorson,2005, p78 ) suggested that homo should preparatory to larn in their initial phase ; hence, we have to guarantee the instruction manner was suit to the stage of homo. For illustration, kids may non accept the instruction manners of grownups. In other manner, we have to put the mission or vision for ourselves, therefore we merely able to heighten our larning motive. We ca n’t populate under a environment without larning or motive. Harmonizing to the consequence of Myer Briggs and BELBIN trial, I able to judge myself is a womb-to-tomb scholar since I am a individual who like to research chances and extravert ever. I plan to take maestro classs after finishing my degree plan, and enter into banking industry. Bank will offer a batch of developing class to their staff, hence, I plan to go a banker due to this ground, and I am able to update myself ever without knock out by the new coevals. Alongside, it is a best opportunity which let me to derive more cognition and better my communicating accomplishments among people. Wlodkowski ( 1999, cited at Klingensmith, 2006 ) states that â€Å" high degree of motive to larn for the grownups produces the higher acquisition consequences, the public presentation achieved † Lifelong acquisition is one of the best manner for me to heighten myself and develop good in my calling. Everyone has different larning manner or different manner to get cognition, therefore we must take a right manner of larning which suit us the most. Besides that, I will get cognition through many different sort of manner i.e. I will seek to do more friends from different civilization or different states, so that we can larn each other civilization and values. My read/write facet is non good plenty, so I have to better my read/write accomplishments and use my reading/writing accomplishments to understand what I read across assorted texts. Following, I do non excessively rely on those cognition or information that I had, I try to be unfastened minded and accept the new information. Group treatment is the other best manner for me to larning and get cognition, I sharing sentiment with my group mates, this is the manner for me to accept others sentiments and advice and besides help me in constructing up my cognition and trust between each others. I learned to copy the positive attitude or behaviour that I every had from others. Harmonizing to the Myer-Briggs trial, I more incline to Extrovert, I take the advantages on it and convey it into my womb-to-tomb acquisition, and seek to construct myself go a autonomous scholar. I plan to do more friend who older than me, therefore, I can derive more things and existent experience from them. For illustration, I observe how a director or a leader perform in a company, how they lead a squad become successful. A company screen by a batch of different types personality people, I use the opportunity to do more different personality type of friends and assisting those people who introverts since I am a individual who introverts earlier. In order to do certain the work can running under a harmoniousness environment, I learn to accept people sentiment, and constructing up the good relationship with everyone around me. Movable Skills In order to do certain I can to the full accommodate into my future calling occupation, I would wish to heighten all my accomplishments invariably, hence I can force my-self to the soap and accomplish the best public presentation in the occupation. How to go a successful bank director in banking industry? In order to managing the occupation efficaciously, communicating accomplishments, leading accomplishments and composing accomplishments. Those accomplishments was playing a really of import function from clip to clip. Banking industry is one of the biggest industry in the universe today. Many of the international bank like HSBC Bank, Standard Chartered Bank, CITIBANK, Barclays Bank, they have a immense figure of client from different states. So the accomplishments of authorship, computing machine accomplishments, and Foreign linguistic communication is really of import. We are traveling to except by the industry if we do non hold the sufficient accomplishments. Furthermore, as a ban k director may confront a plentifulness clients every twenty-four hours, hence, I must be better my communicating accomplishments, so that I find it easy while communicate with client or people from different states. I know a different sort of linguistic communications such as Citrus reticulata, Cantonese, Malay, English, Nipponese etc, hence, I am able to pass on with different type of clients, and do more friends. Additionally, communicating accomplishments was of import for certain, hence, I besides need to better my authorship accomplishment, interpersonal accomplishments, and so-on. Harmonizing to the trial I took, I have good sociableness accomplishments, high motivate accomplishment and leading accomplishment. It was average that I can construct a strong relationship with my client and co-worker. Once one become a Bank director, I will set a batch of attempt to go a successful banker director, and I want to distribute my cognition and my accomplishments to my staff and lead my squad go stronger and stronger. This station needs a really strong leading accomplishments, be aftering accomplishments, motive accomplishments, and communicating accomplishments, acquiring more concern from the clients, create a batch of new selling schemes to pull more client and maximise the net incomes of the bank. I will use my accomplishments, cognition, and experience sagely that I had in order to full adapt into the occupation place. Justify choose calling pick I will be after to prosecute my calling in International Banking industry after graduating with a grade in Business with international direction at Northumbria University. My occupation is needed a batch of accomplishments and cognition, so womb-to-tomb larning automatically go a really of import portion in my life, I ca n’t even halt it, because I need the updated knowledge/information and latest accomplishments to managing my future occupation efficaciously. I pick two occupation advertizement ( see APENDIX 4 ) . The occupation advertizement that I found was clearly states the minimal demand, the item information of the occupation and where is the location of the occupation. In the advertizement, the Team gross revenues director must be possess at least a Bachelor ‘s Degree. Besides, the campaigner should be hold gross revenues experience in retail industry before. The campaigner are required to hold good communicating, motivation, taking and selling accomplishments. Additionally, the campaigner are required to Develop and keep a good web of concern contact and besides guarantee the gross revenues mark are met ever. On the other custodies, the advertizement states that the campaigner must hold the ability to take, motivate, and coach a gross revenues squad. The applicant must be flexible to be shifted countrywide, work in a group, therefore, good communicating accomplishments and taking accomplishments was become the compulsory needs within this occupation. The bank director are encourage to hold good harmonisation because bank director is the who traveling to go to meeting with different section largely. Standard Chartered Bank has provided preparation classs and banking operations oversea short classs to candidate for understanding more item about the merchandise of the SCB, and the regulations and ordinance, so that the director are encouraged to be flexible. In order to pull more client and take the squad become successful, the director are required being to extrovert ever. The squad sale director hopefully able to working under force per unit area, since I ‘m a individual who extrovert, sociableness, hence, I believed I will suit good to this place and able to use my strengths in this occupation. Additionally, BELBIN trial consequence shows that I am a resource research worker, who loves to research chances and develop contacts. Therefore, I can carry through most of the demand as stated by the occupation description in the occupation advertizement. Decision Finally, after I being done the three trials, I know my personality, my accomplishments, and my learning manner, and besides learned how to better my failings. since I plan my calling and life, I must be put a batch of attempt to do my dream come true, and besides maintain the attitude of womb-to-tomb larning until terminal of my life or directing the of import message about the of import of womb-to-tomb acquisition to my future household members. How to cite Theories On Types Of Learners Education Essay, Essay examples

Institutions and Strategies in Business Business Advancement

Question: Discuss about the Institutions and Strategies in Business for Business Advancement. Answer: The rapid technological advancement and globalization have resulted in a similarly rapid growth of the existing and emerging economies. As a result, companies; new and existing, are trying their level best to match up as they face the challenges regarding market entry. Various companies are employing different entry strategies in order to make it in the perfect way and fit. However, the question of what determines a foreign market strategy remains unanswered since no particular entry strategy has been recognized as the Universal approach. Before deciding on which entry strategy to adopt, a company has to take into consideration some other factors, and institutions are amongst them. However, some companies have a lot of focus on their internal resources and capabilities (Ang et.al, 2015). Of course, that is important but might not be beneficial minus consideration of other factors. Definition of the term institutions in the context of business strategy Many economists have come up with various definitions of the term institutions in line with business strategy. However, of all the other meaningful definitions, this paper adopts the definition by Richard Scott that explains institutions as the regulative, normative, and cognitive structures and activities that provide stability and meaning to social behavior (Peng et al 2009, p.64). In an attempt to make this definition sound more clear and relevant in the context of business strategy, it is further supported by the similar definition by the World Bank. The World Bank have it that institutions are the sets of rules that governs the actions of organizations and individuals (Chen, 2004). It further models it as the interaction among participants in a development process. All these sum up the makes it understandable that institutions consist of rules, laws, and regulations that govern a body or an operation, in this case, the market entry. Therefore, institutions can be viewed at another angle as the rules devised by human and affect the incentives that ultimately determine the international differences in prosperity. Having said that, it comes out clear that the institutions would at some given point affect business, company, or a country in international trade (Ebner Beck, 2008). Most economists argue that many investors view that as not a useful framework for providing a solution or a resolution in the business arena. The notion stands that even if a strategy is put in place to come up with the best and an all-inclusive institution, there would still be losers and beneficiaries going by the institution. In an attempt to solve such a scenario, Etrin and Prevezer (2010) talks of an efficient institution as the one which caters for both the losers and the gainers. For instance, he talks about the need to compensate the losers or to allow the beneficiaries to make an attempt of imposing their choice. However, in the real sense, compensating the losers has never been effected anywhere. This variation clearly shows why some societies adopt institutions that appear to be disastrous to the economic growth. This has been evident especially with the institutions that shape the incentives and determine the distribution of resources. As a result, the need of the society to participate in making the decision over conflicting situations becomes necessary. The role of institutions in a foreign market entry Whenever foreign companies enter the market of another country, the country has to identify and adapt to the hosts institutions. The institutions here do not only streamline the structure and operations of the foreign-based company but also points towards safeguarding the local similar companies. To survive and grow, the foreign companies or the multinational corporations (MNCs) have to balance their internal and the external institutional pressures (Hielscher Pies, 2016). Such companies would be subjected to two external institutions one from home and another from the foreign country. However, the role of the institutions majorly is after conformity and survival of all the companies whether local or foreign. Going by the Crux of institutional theory, the set institutions guides a company in determining the best market in the world (Peng et.al, 2009). For instance, selection of appropriate market and environment for an operation depends on with the possibility of the firm to conform. With this, the institution would ensure that the company or the firm is a legitimate failure to which it cannot survive. These guidelines, therefore, puts the firm on course until it becomes adapted to the new market. Another role played by the institutions in determining the foreign market entry is on the knowledge of the international firm and adaptability. As illustrated by Meyer et.al (2009), whenever a firm enters a foreign market, the firm tends to be disadvantaged in various ways. The firm would be lacking the essential knowledge regarding various dimensions in the host country such as legal policies, political stand, social norms, and customers preference. Therefore, the set of rules and regulation that forms the institution would act as a guideline that would eventually make it easy for the foreign company to adapt and do the right thing. Furthermore, just to make everything simple, most foreign companies do strategies their entry by involving an existing local company in the form of a partnership like a joint venture or strategic alliance. All these are done just to simplify the procedures stated out in the market entry institutions. Role of culture in shaping the institutions Culture is broadly viewed as the social norms and individual beliefs that contribute to the shaping of individual incentives. This interpretation according to Meyer (2010) shows that culture is one of the aspects of broadly defined institutions. In this context, culture directly influences ones behavior through values and preferences. However, it is not easy to determine the relationship between economic development and the effect of culture given that culture is endogenous going by the modernization theory of development and predictable effects of culture on economic development. Chen (2004) brings out the correlation between culture and institution by citing how Maghribi and Genoese traders different cultures effected the development of various institutions during the medieval period. How the Institutions affects Entry in the Chinese Market One of the currently booming markets nearly in all fields is the Chinese Market. Even though it is a new lucrative opening, most of the firms are finding it really difficult to enter the rather complicated market in China. Given the totally different cultures of the Chinese compared to the European countries, even the institutions are challenging and leave the foreign firms and companies frustrated to cope. Besides the culture, another source of conflicts and disagreements among companies venturing in the Chinese market is the language. Even though a translator can break even the language barrier, the toughest of all is the Chinese values that must be inculcated by firms entering their market. According to Chen (2004), the Chinese have a strong belief in honesty and discipline, a virtue that cannot be taken appropriately by many foreign companies which believe in exploitations. This implies that even though the Chinese market is lucrative, coping and adapting by foreign firms and com panies might remain a nightmare. In conclusion, it is a reality that institution influences how firms manage their resources. Furthermore, the resources of the firms in return affect the strategy, especially when it comes to the international growth strategy. However, globalization and advancement in technology are far reaching the whole world as the foreign market entry simplifies. References Ang, S. H., Benischke, M. H., Doh, J. P. (2015). The interactions of institutions on foreign market entry mode. Strategic Management Journal, 36(10), 1536-1553. doi:10.1002/smj.2295 Chen, J. (2004). International institutions and multinational enterprises. Cheltenham, UK: Edward Elgar Pub. Ebner, A. Beck, N. (2008). The institutions of the market. Oxford: Oxford University Press. Estrin, S., Prevezer, M. (2010). A survey on institutions and new firm entry: How and why do entry rates differ in emerging markets?. Economic Systems, 34(3), 289-308. doi:10.1016/j.ecosys.2010.01.003 Hielscher, S., Pies, I. (2016). Emergent Social Dilemmas in Modern Society: An Institutional Economics Perspective. Syst. Res. Behav. Sci, 3. Peng, M. W., Sunny Li, S., Pinkham, B., Hao, C. (2009). The Institution-Based View as a Third Leg for a Strategy Tripod. Academy Of Management Perspectives, 23(3), 63-81. doi:10.5465/AMP.2009.43479264 Meyer, K. E., Estrin, S., Bhaumik, S. K., Peng, M. W. (2009). Institutions, resources, and entry strategies in emerging economies. Strategic management journal, 30(1), 61-80. Meyer, K. E. (2010). Institutions, transaction costs, and entry mode choice in Eastern Europe. Journal of international business studies, 32(2), 357-367.