Research Methods Assignment Example | Topics and Well Written Essays - 2500 words

Research Methods - Assignment Example There are two main research methods used in the business field, which are the qualitative and quantitative research methods; their use depends on different scenarios and the type of data that is required. Qualitative research methods are meant to help the researcher in understanding how people make decisions. This is achieved by evaluating the cultural and social contexts that describe the environment in which such people are situated (Myers, 2013). On the other hand, quantitative research was developed from natural sciences in understanding natural phenomena; the research approach uses numbers to represent values in constructing theoretical concepts. Interpreting such numbers is a strong scientific based method of understanding how a process actually works, and allows greater reliability as data collected offers a better trend of relations between two variables (Myers, 2013). This report uses a qualitative and a quantitative article in management to show how each research methodolog y applies in examining relationships between concepts. The report further determines the suitability of each methodology under differing research contexts. Holts (2011) uses a descriptive quantitative approach in determining the necessary behaviours, skills and practices that a pharmaceutical company would require to establish a reliable and effective leadership development program. The research involves collecting data from sales representatives and district managers. The two groups represent multi-level structures in an organization and offer reliable trends in the behaviour of sales persons in the company. Case studies as in Holts case may be said to be, â€Å"an empirical inquiry that investigates a contemporary phenomenon within its real-life context† (Yin 2003, p.13). In other words, the study is aimed at investigating the dynamics that manifest in a single research setting, in this case examining actions taken by sales persons in a pharmaceutical company. The author ai ms at tracing operational links and their impacts on sales representatives. In addition, the research establishes ‘how’ the company may use skills of the experienced sales persons in formulating a training program for new personnel in the future. Holts first offers a background on how companies formulate different approaches to structure leadership development programs, and forms a problem statement based on this introduction. The research problem, which forms the basis of the article, is that companies lack enough knowledge on how to formulate effective leadership training programs. Holts justifies this problem by examining the benefits of forming a program based on the data from sales representatives and district managers, as they possess the required skills in marketing the company’s products. However, Holts in the conceptual framewor

Research Process and Terminology Essay Example for Free

Research Process and Terminology Essay To be a qualified researcher, they must know different terminologies and the process to become one. There are many of terminologies that a researcher must know to do his/her job. Some of them are the steps in research, the Lucifer effect, informed consent, and shield laws. Knowing the proper terminologies and how they apply to the criminal justice field can help their research in the criminal justice field. Not knowing the proper terms can make their research invalid and produce incorrect information. It is best for researchers to take the proper steps when they conduct their study. The steps in research are problem formulation, research design, data collection methods, analysis and presentations of findings and conclusions. The problem formulation is the particular area that is going to be investigated. The research design is a type of experiment or studies of the group over a period. The data collections methods are the choice of methods that are going to used. The analysis is the summarizing and reporting of the findings. The last step is what the researcher believes the study has to say (Hagen, 2010). The steps in research already apply to the criminal justice field. For example, California wants to know what type of offender goes in and out of prison the most. They would study this over the next five to ten years and come up with robbery offenders tend to come in and out of prison. Not knowing the proper terminology can not only affect the results time wasted on researching the subject matter and taking the incorrect way of doing things. Understanding these terms will assist in analyzing research or data will help out a lot because I would know what each step the researchers did and how they came to his or her conclusion. I would not be lost in translation on what this means or even get confused on why they believe their study has to say. According to the book is a term coined by Zimbardo that refers to the transformation of a good person to engage with evil actions† (Hagen, 2010). Knowing wha t Lucifer effect is applies to the criminal justice field more with psychologist than anyone else. When they profile someone, for example, Ted Bundy, they wanted to know this good person all of a sudden turned evil and started killing women. Psychologists believe that Ted Bundy’s breaking point was when his first love dumped him he dropped out of school moved back home. He later found out that his so called sister was his mother, and his parents were actually his  grandparents; that is where psychologist think he snapped and started killing. Bundy could not accept the lies and was killing his first love because all the victims’ resemble her in a way. This is more of a Lucifer effect because it was not overnight that Bundy started killing, it was more each lie and the more he got hurt he began to transform into a serial killer (Montaldo, n.d.). Not knowing the proper terminology can affect the way a person conducts criminal justice research because not knowing what this term entirely means can make a wrong diagnosis. If a psychologist believed that that the criminal had the Lucifer effect and tried to lower the sentence with the help of the defense council, it can jeopardize the case. Because the Lucifer effect is not recognized as a proper diagnostic. Understanding this term can be an asset in some ways, but I do not think when conducting a study. Zimbardo had to stop his experiment because it became too dangerous (Zimbardo, 2006). To study Bundy’s’ and his actions and publish them they needed his families or his consent to publish their findings. When researching the sponsors require an informed consent from the subjects, so they are aware of the intentions and studies that is being done. An informed consent applies to the criminal justice field because when researching, they need consent from anyone who participates in the study, so the participants know what’s going on and so the researchers can publish their findings without a participant suing them. Not knowing what the term means can affect me in research because I just tell the subjects what I am doing without getting their signatures I can be sued of even worse lose my job. Understanding this term can help me conduct a safe research where the subjects know what is going on and why I am doing the study. By having their signatures saying that I can include them in my research is a benefit because that is just one more thing that is going to either approve or disapprove my hypothesis. When doing the research, researcher need to know that what they find can be protected under shield laws. The book states that shield laws â€Å"constitute a governmental immunity from prosecution and the right to confidentiality for researchers if they are subpoenaed† (Hagen, 2010). Shield laws apply to the criminal justice field because it protects respondents by ensuring that the data provided will not be used to invade their privacy. Not knowing the full terminology of shield law can affect my criminal justice research. For example, if I think that everything in my  research can be used against me I might leave out some information so it will not be used against me. Knowing this term can asset me when I am conducting research because I know that I cannot be prosecuted for my research and even if the courts subpoenaed me I was still protected from giving my field data up, etc. In conclusion, knowing the right meaning of these terminologies can help researcher conduct a more proficient study. That can help the criminal justice field in more in more than one way. Knowing the right process of these terms can help the researchers perform the proper steps to do the research. To make sure that they all have the informed consents from the subjects and to know that they are protected from giving up their data by the shield law. References Hagen, F. (2010). Research Methods in Criminal Justice and Criminology (8th ed.). Upper Saddle River, New Jersey: Prentice Hall. Zimbardo, P. (2006, January 1). The Lucifer Effect. Retrieved August 21, 2014. Montaldo, C. (n.d.). Ted Bundy: Profile of a Serial Killer. Retrieved August 21, 2014.

Fetishism, perversion and the Gay Identity :: Socialization Sociology Essays

Fetishism, perversion and the Gay Identity The contemporary Euro-American idea of identity as coherent, seamless, bounded and whole is indeed an illusion. On the contrary, the self carries many internal contradictions and nuances as a reflection of the many roles that a person plays in various social circles. Identity is partially post-social and socially constructed though rituals and disciplinary acts. In turn Delany challenges the concept of a Gay Identity, an entity of being that could be defined as referential. "The point to the notion of Gay Identity is that, in terms of a transcendent reality concerned with sexuality per se (a universal similarity, a shared necessary condition, a defining aspect, a generalizable and inescapable essence common to all men and women called 'gay'), I believe Gay Identity has no more existence than a single, essential, transcendental sexual difference" (Delany 1991:131). The meaning of Gay Identity does not carry over across all time, sharing itself in a congruent way to every gay community to encompass an irreducible gayness. In fact, the very notion of the existence of any gay properties characterizing the Gay Identity is seriously questioned and refuted, as is the concept of a universal, timeless sexual difference (Delany 1991). According to Sedgwick, even the language used to identify the gay identity "queer" is non-referential. Queer describes the gay identity in as many uncharacteristic ways that fail to overlap certain individual homosexual experiences as it does in describing characteristic ways that overlap other homosexual experiences. Queerness is not always translatable just as being queer means different things to different gays. "'Queer' seems to hinge much more radically and explicitly on a person's undertaking particular, performative acts of experimental self-perception and filiation" (Sedgwick 1993:9). Sedgwick contends that there always exists a performative aspect of the self in all the roles that people play, including the queer role. Thus queer is not outside of the performance. This description of performance as identity suggests that the retrospective act of interpreting performance constructs personhood. During moments of cultural misunderstanding and differences that cause personal str ess and strains in individual access to self-representation of identity, a social actor has the ability to alter identity. By experimenting with who they are through sexual performance, people shape their sexual identities (Sedgwick 1993). Building critically upon Delany, I call into question the accuracy of perversion belonging in marginal spaces. I specifically seek to analyze fetishism as a kind of perversion.

International Joint Ventures Essay

The objective of this paper is to highlight some of the important issues that must be considered prior to forming an international joint venture. Why is this topic important? The following quote summarizes the main reason: â€Å"Cross-border M&As, JVs and alliances seem to share at least two characteristics with marriage trends of the post World War II â€Å"Baby Boomers† generation: They have grown explosively during the 1980s and through the 1990s but – less fortunately – they fail about half the time.†[1] With this in mind, it is very likely that sooner or later you will be involved in an international joint venture, either in the process of forming one, dissolving one or working for one. The more you know about international joint ventures, the better prepared you will be to understand and contribute to the solution for the challenges they present. Most companies begin their expansion to overseas markets by exporting their products or services. Exporting products has minimal risk involved, especially if the proper steps are followed. However, in some instances exporting is difficult or expensive and companies use other methods to penetrate international markets. Forming an international joint venture with a foreign firm in the target market is, in some cases, the only avenue to accomplish the goal. An international joint venture is usually a progression in the investment level that companies are willing to commit prior to fully investing in a foreign subsidiary. What is the main difference between opening a subsidiary and forming a joint venture? According to Andrew Inkpen, a joint venture occurs when â€Å"two or more legally distinct firms (the parents) pool a portion of their resources within a jointly owned legal organization†[2] â€Å"The distribution of equity among the parent companies can take different forms, ranging from 50/50 IJVs between two companies, to reduced minority or dominant majority stakes.†[3] In contrast, only one company owns a subsidiary. Even though companies perceive IJV as less risky than opening their own subsidiaries, forming inadequate joint ventures can be risky and expensive. If managers are not careful in their analysis and are not aware of the potential pitfalls of international joint ventures then they can face some serious trouble. So far we have learned that culture plays a major role in business culture. Hence, culture will ultimately have a major impact in the international joint venture. Piero Morosini, one of the leading researchers in international joint ventures, explains the role culture plays in international joint ventures as follows: â€Å"Empirical evidence suggests that technical issues are less likely to lead to conflicting situations compared to relationship problems during the implementation of international JVs and alliances. Throughout this phase, too much emphasis is usually placed on setting strategic objectives at the cost of ignoring personal interaction aspects involving people from different national cultures. This has been cited as the most critical factor leading to unresolved conflicts and outright failure of an international JV or alliance.†[4] Companies some times enter into joint ventures with objectives other than to gain rapid access into the market. Some companies want to learn from other companies or like to combine resources in order to make a stronger company. â€Å"The need to combine strategic resource contributions and foster functional co-operation and co-ordination between the partners to create mutual advantages is at the heart of both IJVs and global alliances.†[5] As you read this paper, you will learn that most of the failures in joint ventures occurs due to the misunderstanding in the goals and the definition of the goals. Finnie Williams states that â€Å"half of all partnerships don’t work. Those that are successful share three characteristics with successful marriages: †¢ The actual and perceived potential benefits must be large for both parties. †¢ The partners must share a common set of values †¢ The key people must be committed to success.†[6] It seems that the most important aspect when speaking of international joint ventures, is that partners must share a common set of values. This is very unlikely to happen. The main reasons cultures are different is because they have different sets of values. For instance, some companies define success in terms of return on investment, others use market share, yet others define it in terms of customer satisfaction. These differences are critical and must be discussed early in the planning stage in order to lay a solid foundation for the partnership. It is important to keep in mind that even companies from the same cultural and business background have different plans to achieve their goals. Therefore, whenever we mix companies with different cultural backgrounds, the complexity level increases. People from different cultures perceive business in different ways. The rest of this paper provides examples of international joint ventures in different countries and examines some of the general observations related to such ventures and countries. China â€Å"Foreign investment in 1995 was $US38 billion (China Statistical Press 1996). International Joint ventures (IJVs) between overseas companies and domestic state-owned enterprises (SOEs) have been the dominant mode of entry. However, many JV investments have been less than successful.†[7] China â€Å"is now the world’s most active joint venture market.† [8] These facts are not surprising as â€Å"China is home to 25 percent of the world’s population and many western firms view the country as a prime target market.†[9] However, as we will discuss, not everyone venturing in China has been successful. For instance, a group of French investors dissolved their joint venture in China after 12 years of investment. The agreement was primarily between Peugeot and Guangzhou Automotive Manufacturing (GAM). It took four years of negotiations between French and Chinese investors to form the joint venture Guangzhou Peugeot Automobile Corporation (GPAC) in 1985 . Following are some of the major problems that Peugeot mentioned as key elements to the failure of their venture in China: †¢ The labor force from the Chinese partner had inadequate skills, which resulted in more time and money spent in training. †¢ Lack of suppliers in the Guangzhou area that could provide quality parts. As a consequence many of the parts had to be imported which raised the cost of the vehicles as compared to the competition. †¢ Guangzhou officials would not allow the plant to purchase parts from suppliers from other regions in China. Competitors who were located in other Chinese regions had access to quality Chinese parts and were able to build vehicles at lower prices. There is another side to this story, analysts believe that: †¢ Peugeot chose the Guangzhou area because the central government had little influence over the local government and there would be more management freedom. However, this backfired on Peugeot as the distance from Beijing acted as a barrier to access suppliers from other regions. †¢ Peugeot did not act fast enough to form a joint venture with a supplier in the Guangzhou region. Their competitors had formed such partnerships with their suppliers. †¢ Peugeot repatriated most of its profits and made few changes to their vehicles. Their competitors instead, reinvested most of the profits in the venture and to improve the vehicles. [10] I think there are several lessons to be learned from this example. One is that it takes a long time to agree on the terms of the agreement. Second is that even though both partners had agreed on the goals, unexpected deficiencies (labor and parts) put the company at a disadvantage with its competitors. It is amazing that after four years of negotiations, nobody checked if the skill sets were compatible and if the local suppliers could provide quality parts. Third is that even when companies believe that they are making the correct strategic move they could be doing the opposite due to lack of knowledge of the local culture. In this case, Peugeot was under the impression that distance from Beijing would be positive and in fact it turned out negative. Finally, companies that want to use joint ventures as means to have a quick entry into the market can get hurt. In this case, Peugeot was not committed to re-investing capital in the joint venture, which at the end made them completely uncompetitive in the market. You might be wondering who was the competitor to Peugeot that was being so successful in China. That competitor was also a joint venture. This time it was between a German company, Volkswagen AG, and a Chinese partner in the Shanghai area. As mentioned before, Shanghai Volkswagen was quick to form partnerships with suppliers to increase the content of Chinese parts in their vehicles and reduce the number of imported parts. Another important aspect is the fact that Shanghai Volkswagen was reinvesting their profits in order to improve their vehicles. Such improvements plus their commitment to the Chinese economy, allowed Shanghai Volkswagen to earn a better reputation among customers.[11] Another major corporation that has been successful in forming joint ventures in China is United Parcel Service. â€Å"UPS has been aggressively expanding its operations there. On Jan. 21 1999, the company announced an agreement with Chinese airline Sinotrans to expand UPS-branded operations to 18 additional cities in China, bringing the total to 21. The two carriers signed a memorandum of understanding that includes new investments to develop dedicated operations and more joint training and management efforts. In 1994, UPS opened representative offices in Shanghai, Guangzhou and Beijing, and by 1996 established a joint venture with Sinotrans in Beijing. Efforts to establish joint ventures in Shanghai and Guangzhou were temporarily put on hold with a change in government leadership.†[12] These examples provide us with some useful information regarding joint ventures in China. However, there are some other facts that you must know: †¢ Laws governing international joint ventures in China are different than the laws for Chinese firms. †¢ Laws may also be different depending on whether the Chinese partner is a state business, village or township enterprise. †¢ China’s legal system consists of guidelines for businesses and individual judges have enough leeway to determine what is right and what is wrong. †¢ Provincial regions can prohibit the sale of goods not produced on its own region. (this was the case with Peugeot suppliers). †¢ The need for government support is greater when the output of the joint venture is sold within China †¢ The local partner is critical when the output must be sold to the government instead of the general public. [13] A survey of 125 randomly chosen Sino-Western joint ventures, each with a minimum of 50 employees, and each in business for over one year, were surveyed in Shanghai. They surveyed mangers from both parent companies in order to compare results and the results were as follows: †¢ The goal emphasis of the two groups was substantially different. †¢ Chinese managers focused on things that they had not yet mastered such as technology, management skills, and capital understanding. †¢ Western managers focused on their own things to be mastered such as understanding the local market, government policy and the political system. [14] Japan The situation in Japan is mixed. While some researchers point that there are some major problems in forming international joint ventures, large multinationals have formed very successful joint ventures and the announcements of more and more joint ventures being formed continues. On one hand is the view that international joint ventures between Japanese and North American firms in the automotive industry have encountered many problems. Most of the problems are related to cultural differences and management styles. â€Å"Although it is overly simplistic to describe Japanese management as long-term oriented and American management as short-term oriented, the Japanese partner firms in this study appeared to focus on customer satisfaction and product quality rather than profit based performance. Japanese firms seemed less constrained by issues of share price and impatient board of directors than their American counterparts.†[15] On the other hand is the trend of new joint ventures being formed or existing ones being expanded, â€Å"Goodyear Tire & Rubber Co. and Sumitomo Rubber Industries announced the formation of four joint venture operating companies. The units will be based in North America, Europe, and Japan. Two U.S.-based service joint ventures will also be formed, one for global purchasing and one for sharing tire technology.†[16] This agreement between Goodyear and Sumitomo reflects some experience in forming joint ventures as they have clearly defined the goals of the different joint ventures. This joint venture seems to be headed in the right direction, it will be interesting to follow up in a few years to see if they actually become successful. â€Å"Dainippon Ink and Chemicals (DIC) and Eastman Kodak say they will combine portions of their Japanese graphic arts businesses in April to make a Japanese unit for their existing JV, Kodak Polychrome Graphics (Norwalk, CT). The combination will increase the JVs sales from $1.5 billion last year to $2 billion in 1999, Kodak says.†[17] Kodak seems to be having success in their joint ventures with Japanese companies as they are expanding their current joint venture. Dupont and Teijin announced that they will form a 50-50 joint venture to manufacture polyester films. The joint venture is expected to generate sales of $1.4 billion and represent 25% of the market. â€Å"Both companies say the venture will allow for the free flow of technology and will combine DuPont’s strengths in the U.S., Europe, and China with Teijin’s strengths in Japan and Southeast Asia.† [18] Once again, it seems that companies that invest time and effort analyzing and understanding the challenges of joint ventures get on the right track from the start. Companies that just want to do business as usual (the case in the automotive industry) will have a hard time making the joint venture successful. SPAIN Spain has seen less activity in terms of joint ventures than Japan and China. It seems that Spain is not perceived as â€Å"risky† country and most companies might be willing to spring into fully owned subsidiaries in Spain. Also, the barrier to enter the market might not be as high as in the case of the Japanese market. However, in some industries, such as the financial services industry, there is a need for joint ventures to penetrate the market. Spanish people look for names of familiar companies to invest their money. According to a London fund manager interested in the Spanish market, â€Å"The easiest way to break into the market is through joint ventures with local banks but there are not many suitable partners. We have looked around a few banks but we haven’t been able to come up with a deal we like the look of.†[19] There is one company that has formed a joint venture with a Fibanc in Barcelona, Lazard Unit Trust Managers. Although, the majority of the investment firms have decided to just open their own branches in Spain. Fidelity’s managing director for central Europe believes that â€Å"Spain has a big population, around 40 million so in terms of sheer size it is very attractive. It’s one of the markets we have to be in. Fidelity opened its office in Madrid this year and has put a sales team in place. We are aiming at creating our own distribution channel rather than any other form of strategic alliance or joint venture†[20] It will be interesting to observe which of the two firms becomes more successful given the different approaches to penetrate the Spanish market. Another recent joint venture in Spain is Spanair. Formed between Scandinavian Airlines (49%) and Viajes Marsan (51%). Due to the recent deregulation of the European airline industry, the two companies were able to establish the airline as a joint venture. Spanair is flying direct from Madrid to Washington D.C. and it is increasing the number of intra-Europe flights. Spanair is now trying to form alliances with United Airlines to gain market recognition in the United States. Spanair has a different approach to marketing, they consider themselves an â€Å"airline with humor†, in fact, they gave away 266 round trip tickets to the first 266 people to arrive at the airport wearing some type of costume resembling some aspect of the Spanish culture.[21] Although, it seems that this airline has had a great start, it will be interesting to find out how they do in the future, as the Spanish culture seems to be playing a mayor role in the way the airline is run. I think that if Scandinavian Airlines is fully aware of the differences in management style between them and their Spanish partners, this joint venture should successful. Russia Prior to 1987, Russia had major restrictions in the formation of joint ventures. Only Eastern Block countries were allowed to form joint ventures with Russian partners. However, after 1987 the opportunity for joint ventures with Russian companies opened up and the result was a flood of joint ventures along with problems, risks, frustrations, opportunities and rewards.[22] The following quote summarizes the joint venture situation in Russia: â€Å"Although more than 10,000 international joint ventures have been registered in Russia since 1987, only about one-fifth of those have actually begun operations. Historically, many Russian-foreign joint ventures fail in the first year of operation, with an average survival rate of about 2.5 years.† [23] Richard Reece has identified some myths about Russians, which he believes are key elements in the failure track of international joint ventures in Russia. Following is a summary of these myths and his observations regarding the myths and suggestions to consider when forming a joint venture in Russia. 1. Russian workers are alcoholics and have an inferior work ethic. Alcoholic consumption might be higher, there is no certainty in this remark, however, Russian workers are used to longer vacations in the summer time and this can create the impression that Russians are lazy. His suggestion is to learn more about the Russian habits and styles prior to committing to a joint venture and have unrealistic expectations. 2. Russians are ignorant, incompetent managers. It is important to remember that Russians are learning about the market economy. For many years they have not been exposed to open markets, so they are less familiar with issues such as pricing, receivables, cost analysis, financing, cash flow, and marketing. It is important to remember that this is one of the major reasons why Russians are looking for partnerships with western companies. Russians are eager to learn more about the western style economics. The best way to find out the knowledge level is trough interviews with potential partners. 3. Russian managers lack business savvy. This myth has some truth in it, however, the fact that the Russian economy is unstable, has given managers the ability to react quickly to changes and adapt to the conditions of the new environment. In fact it is important to understand that not all western style solutions will work in Russia and Russian manager are more familiar with the details on how to get things done in Russia. Richard Reece makes particular emphasis in communication as a key ingredient to a successful joint venture in Russia. If potential partners do not learn about each other, how can they expect the venture to be successful. General Guidelines to Select a Partner. In general regardless of the countries involved, William Myers offers the following guidelines to select an adequate business partner: †¢ Is your prospective partner a known entity? †¢ Have you worked with the group before? †¢ Do the organization’s culture and values match yours? †¢ Does your prospective partner understand how associations work? †¢ Will the organization be flexible in crafting workable deals? †¢ Can your prospective partner clearly define success in the joint venture? †¢ Does your prospective partner have a reputation for honesty, and will the organization define working agreements in writing? [24] Answers to these questions will give you a general idea on whether to proceed with the venture, do more in depth analysis or simply not go through with the process. Conclusion This paper presented examples of successful and unsuccessful joint ventures. It also highlighted important information regarding key aspects of joint ventures in different countries. Joint ventures are still popular and international companies are creating more every day. Therefore, the knowledge from this paper should assist you to better understand the challenges associated with most joint ventures. A topic that was consistent throughout the literature on joint ventures is the importance of cultural differences, patience and the comparison of joint ventures to marriage. Therefore, if you have been married for a while, you might be better prepared for a joint venture than you think. Another interesting observation is that joint ventures seem to be preferred when there are market barriers, such as the case with Japan, or when the perceived risk level is relatively high, such as Russia and China. The fact that there was scarce information on joint ventures between companies of developed nations indicates that joint ventures are not the main avenue of expansion for most firms. This does not imply that they do not happen or that are not recommended, it simply states that they are far less popular. Companies are more willing to establish their own subsidiaries or branches since the risk level is lower. If you are involved in a joint venture, use the guidelines presented in this paper. The authors who recommend them have been studying international joint ventures for several years and have learned a lot from them. ———————– [1] Morosini, Piero.1998. Managing Cultural Differences, Pergamon Great Britain. [2] Inkpen, Andrew. 1995. The management of international joint ventures, Routledge London and New York. [3] Morosini, Piero.1998. Managing Cultural Differences, Pergamon Great Britain. [4] Morosini, Piero.1998. Managing Cultural Differences, Pergamon Great Britain. [5] Morosini, Piero.1998. Managing Cultural Differences, Pergamon Great Britain [6] Finnie, William C. 1998. Strategic partnering: Three case studies. Strategy and leadership, 26 (4): 18-22. [7] O Connor, Neal; & Chalos, Peter. 1999. The challenge for successful joint venture management in China: Lessons from a failed joint venture Multinational Business Review, 7 (1): 50-61. [8] Si, Steven & Bruton, Gary. 1999. Knowledge transfer in international joint ventures in transitional economies: The China experience. Academy of Management Executive, 13 (1): 83-90. [9] Si, Steven & Bruton, Gary. 1999. Knowledge transfer in international joint ventures in transitional economies: The China experience. Academy of Management Executive, 13 (1): 83-90. [10] Harwit, Eric. 1997. Guangzhou Peugeot: Portrait of a commercial divorce. China Business Review, 24(6): 10-11. [11] Harwit, Eric. 1997. Guangzhou Peugeot: Portrait of a commercial divorce. China Business Review, 24(6): 10-11 [12] Traffic World 1999 UPS’s big stake in China talks. Feb 8: 37. [13] Si, Steven & Bruton, Gary. 1999. Knowledge transfer in international joint ventures in transitional economies: The China experience. Academy of Management Executive, 13 (1): 83-90. [14] Si, Steven & Bruton, Gary. 1999. Knowledge transfer in international joint ventures in transitional economies: The China experience. Academy of Management Executive, 13 (1): 83-90. [15] Inkpen, Andrew. 1995. The management of international joint ventures, Routledge London and New York. [16] Fleet owner. 1999. Goodyear, Sumitomo deal. March: 16. [17] Moore, Samuel K. 1999. Kodak and DIC develop another JV. Chemical Week, 161 (8): 22. [18] Westerlvelt, Robert. 1999. Dupont and Teijin take a joint role in films. Chemical Week, 161 (6): 19. [19] Marshall, Julian. 1998 / 1999. Retail Pioneers will gain in Spain. 118: 56. [20] Marshall, Julian. 1998 / 1999. Retail Pioneers will gain in Spain. 118: 56. [21] Guttman, Robert J. 1998. Spanair: The sky’s the limit. Europe, 380:16-17. [22] Reece, Richard. 1998. Successful joint ventures in Russia. World Trade, 11 (8): 42-44. [23] Reece, Richard. 1998. Successful joint ventures in Russia. World Trade, 11 (8): 42-44. [24] Myers, William. 1998. Picking your partners wisely. Association Management, 50 (10): 31.

The Macroeconomic Perspectives of David Ricardo, Karl Marx

The Macroeconomic Perspectives of David Ricardo, Karl Marx, and John Stuart Mill ECON 350 19 November 2012 Abstract The author surveys three influential economists of the Classical era—Ricardo, Marx, and John Stuart Mill—and introduces the reader to their Macroeconomic perspectives based on some of their more prominent Macroeconomic theories. David Ricardo David Ricardo was a Classical Economist who lived from 1772 to 1823.In his professional life he wore many hats: he was a businessman, a financer, a speculator, and a member of Parliament. But what he is most remembered for is the role that he played in the evolution of economic theory, alongside of such other greats as John Stuart Mill and Thomas Malthus, among others. In examining the economic theories which he espoused it is interesting to consider the part that his above-mentioned professions played in influencing his positions.Through his experience as a businessman was undoubtedly able to gain insights into the w orkings of industry; through his experiences as a financer and a speculator he gleaned invaluable insights into the workings of the financial system; and through his experiences as a member of Parliament he no doubt acquired insights into the workings of government and politics that does much to add credibility to many of his economic expostulations. Although he worked diligently in the fields of both Macro- and Micro-economics we will be focusing here primarily on some of his more distinguishing Macroeconomic contributions.The principals within this field of economics which we will be focusing on in particular are: The Law of Comparative Advantage, Comparative Statics, International Money Movement, and Deficit Spending. The principal which is arguably the most important and enduring contribution that David Ricardo ever made to the field of Economics is The Law of Comparative Advantage, also known as The Law of Comparative Cost. This was a principal that was originally developed by Adam Smith in his renowned work entitled â€Å"An Inquiry into the Nature and Causes of the Wealth of Nations. However, although Adam Smith first developed this principal it was David Ricardo who refined it and thus he is deserving of credit for his part in the formation of this economic principal. The Law of Comparative Advantage was first mentioned by Ricardo in his work entitled â€Å"On the Principals of Political Economy and Taxation. † It is based in â€Å"specialization. † and is a â€Å"law† which we see operating all around us in present times. Basically this law takes one of Adam Smith’s observations–that specialized units within a manufacturing process leads to increased efficiency—and applies it on an international scale.Adam Smith’s observation was that when manufacturing a particular type of item, if each worker present were to work on an item from start to finish they would be inefficient and slow and would not be able to produce nearly as much of the items as would a factory of workers who were separated into specialized units, each unit having the responsibility of completing one of the processes necessary for manufacturing the particular item. Ricardo took this one step further and applied it on a macro level.He noted that different countries, for various reasons, have specific goods that they are particularly adept at producing. He further noted that if countries had to provide for all of their needs internally then they would be unable to focus their attention on the things that they did particularly well. On the other hand, if each country were able to focus on producing the things that they did well then they could produce exponentially more of them and could trade amongst each other for the things that they needed but did not produce internally.Also, he took the Opportunity Cost into account and noted that even if one country did everything better than another it would still be practical for the lesser country to manufacture items for the greater country since the greater country would see the highest returns if they focused their time, money, and energy on the things that they did particularly well. This was actually quite a big deal during Ricardo’s since Protectionist policies were hindering free trade, which Ricardo was a proponent of as can be seen from his Law of Comparative Advantage.One of Ricardo’s first interactions in the economic dialogue of his time was based around the Quantity Theory of Money. At the time there was something going on in Britain that would come to be known as the â€Å"Bullion Controversy†. Basically, as a result of a potential war the British government temporarily suspended the obligation of the Bank of England to convert its notes into gold. During this time agricultural prices rose (which some people attributes to poor harvests) and gold prices went up. It is on this second point that Ricardo chimed in. Ricardo argued that the rise in gold prices was actually the result of inflation.According to him, since the bank wasn’t obligated to exchange their notes for gold they were printing more notes than they had gold to back them. This flood of currency, Ricardo said, was creating an excess supply which was devaluing the currency and thus causing inflation (Laidler, p. 12). Karl Marx Karl Marx is probably best known for the work that he co-authored with Fredrick Engels entitled â€Å"The Communist Manifesto† and also for his work entitled â€Å"Capital. † He is also arguably one of the most well-known of the Classical Economists, or of any group of economists for that matter.In addition to being an economist he is also renowned for his work in the fields of philosophy, sociology, history, and journalism. Karl Marx was a staunch Socialist and the vast majority of his contributions to the field of economics revolved around a singular event that he believed would inevitably o ccur sometime in the future and would bring about the fall of Capitalism, replacing it instead with a Socialist society that would eventually evolve through natural means into a Communist society. Marx saw society as segregated units of distinct classes.In his mind there was a constant struggle going on between these classes as a direct result of one class having dominance over the other. The two classes that he was particularly concerned with were the Proletariat and the Bourgeoisie. The Bourgeoisie were representative of the wealthy Capitalists—this included factory owners, entrepreneurs, and the like. In other words the Bourgeoisie was composed of those individuals who were able to create great wealth for themselves as a direct result of the Capitalist system. Aristocracy and the like were not included as among the Bourgeoisie.The Proletariat on the other hand were those individuals who worked in the factories, et cetera, of the Bourgeoisie. These were the blue collar work ers of their time and the lower class members of society. In Marx’s opinion the Bourgeoisie had taken advantage of the Proletariat by making themselves wealthy off of the labor of this oppressed class. Furthermore Marx felt that the base nature of the work that the Proletariat was given to do was stifling. Last and worst of all Marx felt that these workers were not being fairly compensated for their work.What we now call Recessions and Depressions Marx referred to as â€Å"Crises. † He felt that these Crises were the direct result of disproportionalities in the Law of Supply and Demand. According to Marx the amounts of items supplied to markets and the amounts demanded were in a constant state of tension because they were always seeking to achieve equilibrium but could never quite do so. Since this often led to more of an item being supplied than was demanded by the market, the market became flooded and the item’s price would drop significantly.Businesses in the ir current state could not survive off of these minimal returns, and workers ultimately suffered as a result. Marx believed that workers were not paid adequately during good times to compensate for these Crises, whereas the Bourgeoisie ultimately became wealthy despite these Crises. Marx did not blame the Bourgeoisie but instead saw them merely as a product of their environment. He did, however, feel that this environment which ran according to the tenets of Capitalism was inherently flawed.Marx believed that the Proletariat would eventually revolt against this flawed system and would take manufacturing into their own hands. At first a Socialist form of government would be set up and would be run by what Marx referred as the â€Å"Dictatorship of the Proletariat. † This would only be a temporary institution however and it would eventually become obsolete and dissolve naturally and from that time on Communism would be the sole system that would guide the economy, government, a nd society as a whole.John Stuart Mill John Stuart Mill was born in England and lived between 1806 and 1873. He was both an accomplished philosopher and economist and is recognized as one of the greatest thinkers of his time. His father, James Mill, was a respected philosopher, economist, and political theorist. James Mill was also a contemporary and close friend of David Ricardo and was influential in the Classical Economics movement of his time.Because of James Mill’s intellectual circle of friends, and also because of his strict tutelage, John Stuart Mill was, from a very young age, privy to much of the political, philosophical, and economic discussions and arguments of his day. Because of the influence of his father and also because of his close acquaintance with David Ricardo and others in his father’s circle, he would continue to hold to and defend many of their opinions and precepts throughout the course of his life. John Stuart Mill was also a contemporary of K arl Marx although Mill was apparently unaware of who Marx was.Although Mill wrote volumes of literature on the topic of economics during the course of his lifetime, there is one particular topic that seems to be especially relevant in shaping an understanding of his macroeconomic perspective and so it is on this topic that we will focus our attention. Thomas Stowell tells us in his book entitled â€Å"On Classical Economics† that â€Å"the three major controversies in economics during John Stuart Mill’s lifetime were disputes over Say’s Law, the Malthusian overpopulation theory, and the theory of value (p. 134). The first is a macroeconomic concern whereas the second and third fall under the banner of microeconomics. Therefore it is on this topic that we will now focus our attention: Say’s Law, also known as the Law of Market, was founded on the presumption that money is used solely as a means of initiating transactions and that in the end transactions u ltimately consist of one commodity being traded for another. Say believed that producers are eager to get rid of their products because of price fluctuation which could cause their devaluation and because an unsold product produces no return on investment.Say also believed that producers were equally eager to get rid of the money they acquired through transactions because money’s value fluctuates as well. In order to get rid of money it must be traded for some product or service and thus through this cycle economic growth is created. Say believed that â€Å"gluts† occurred when too much of one product was created, thus flooding the market. This, the law states leads to a loss of revenue for the producer, who in turn consumes less due to this loss of revenue.Because of this lowered consumption there is an overall reduction in demand in the economy as a whole. This reduced demand leads to unemployment and recessionary conditions. It should be noted however that these con sequences ultimately result not from an inadequate supply of money with which to purchase goods, but from markets supplying more of one particular product than is desired and not enough of others. John Stuart mill was a huge proponent of Say’s Law although he did appear to alter some parts of it slightly throughout the course of his life. ReferencesBalassa, Bela A. (1959). John Stuart Mill and the Law of Markets. The Quarterly Journal of Economics, Vol. 73, No. 2. Balassa, Bela A. (1959). Karl Marx and John Stuart Mill. Weltwirtschaftliches Archiv. Bordo, Michael D. ; Schwartz, Anna J. (1984). A Retrospective on the Classical Gold Standard, 1821-1931. University of Chicago Press. Chicago, IL. Brandis, Royall. (1985). Marx or Keynes? Marx and Keynes. Journal of Economic Issues. Vol. 19, No. 3. Campbell, Martha. (1997). Marx and Keynes on Money. International Journal of Political Economy. Vol. 27, No. 3 Davis,Timothy. 2005). Ricardo’s Macroeconomics: Money, Trade Cycles, and Growth. Cambridge University Press. New York, NY. Laidler, David. (2000). Highlights of The Bullionist Controversy. Retrieved from http://economics. uwo. ca/faculty/laidler/workingpapers/highlightsof. pdf. Lutz, Mark A. (1979). The Limitations of Karl Marx’s Social Economics. Review of Social Economy. Vol. 37, No. 3. Sowell, Thomas. (1974). Classical Economics Reconsidered. Princeton University Press. Princeton, NJ. Sowell,Thomas. (2006). On Classical Economics. Yale University Press. New Haven, Conn.