Definition Of Industry And Porter Economics Essay

Definition Of Industry And Porter Economics Essay This chapter presents a basic explanation of how the pharmaceutical industry will be defined and which models will be used to analyse it. 2.1 Definition of Industry The most important definition of industry was given by Michael Porter in 1979: a group of competitors producing substitutes that are close enough that the behavior of any firm affects each of the others either directly or indirectly.  [1]  Later, Porter defined the term more precisely as a group of companies offering products or services that are close substitutes for each other, that is, products or services that satisfy the same basic customers needs.  [2]  This new definition emphasizes the importance of industry borders and industrys role as a market supplier or producer of goods and services, as distinguished from a market, defined as a consumer of goods and services. Furthermore, inside every industry there are groups of companies that follow similar strategies, defined by Michael S. Hunt in his unpublished 1972 Ph.D. dissertation as strategic groups.  [3]  Between these groups there are differences in entry barriers, bargaining power with buyers and suppliers and skills and resources  [4]  . Strategic groups compete against each other within the industry as a result of these differences. 2.2 Models to Analyze the Industry and Its Environment The literature agrees that comprehension of the industry structure is essential to developing a firms strategy and has a greater effect on the firms performance than whether it is business-specific or corporate-parent.  [5]  The comprehension of the structure requires analyses of the industrys life cycle. It also requires step-by-step political, legal, technological, social and economic analyses as well as the five driving forces of business, provided by Michael Porter. By utilizing these analysis techniques, it is also possible to anticipate changes in industry competition and profitability over time. 2.2.1 Industry Life Cycle Analysis During its development an industry passes through different phases, each characterized by a different environment that obliges competition to assume different forms. Through studying the life cycle, the industry realizes its stake in the market and its influence on consumers. The industry life cycle model includes four different phases: introduction, growth, maturity and decline.  [6]   The introductory phase is characterized by low demand, resulting in higher prices as a consequence of the firms inability to realize economies of scale. This situation gives rise to low profit margins and losses are expected due to substantial investments in new categories. Market penetration may be obstructed by a lack of technologies and competencies. Strategy is focused mainly on RD and production, with the goal of enhancing novelty and quality. Competitors, attracted by the rising demand, attempt to replicate the new product.  [7]   In the second phase, growth, the use of the product is extended, demand grows, prices decline due to economies of scale, barriers to entry are lower and the threat of new entry is high. At this phase the technology is usually not exclusive property of one or more firms, and the primary reaction to competition is marketing expenditure and initiatives; profits are not very high because prices decline as competitors enter the market. There is a transition period, or shakeout, between the second and the third phases. The shakeout involves finding and using all investment opportunities, because the market is near saturation and demand grows more slowly.  [8]   In the third phase, maturity, market growth is low or nonexistent, and the focus shifts to gaining market share; demand is represented only by the substitution of products, investment in RD decreases and there is little innovation. In this phase firms seek cost reductions, and competition is based primarily on advertising and quality because of the low differentiation between products. Big firms acquire smaller players, while others are forced to exit. As a conseguence of high barrier to entry, the threat of new entrants are low.  [9]   The last phase is decline, so called because of the continued decline in demand. Industries arrive at this stage for a variety of reasons. These include a change in social behaviors, demographic changes, international competition, technological innovations and increased customer knowledge. The buying process is based primarily on price rather than innovation. As a result, profit and revenues decline, and the industry as a whole may be supplanted.  [10]   2.2.2 PEST Analysis The term PEST is an acronym of several factors Political, Economic, Social and Technological that influence business activities at any given moment. Due to the fact that each aspect may have an independent impact on the industry, it is essential that each be individually identified and analyzed through the PEST Analysis.  [11]   The political aspect of analysis encompasses various factors that influence business activities in a given country at several levels: national, subnational and supranational levels.  [12]  These include trade policies control imports, exports and international business partners, government ownership of industry, attitude toward monopolies and competition and trade policies. Hence, failure to consider these policies may result in loss of revenue due to taxes or penalty fees. Government stability is also very important, because it eradicates the risks associated with wars and conflicts. For an industry to thrive, political stability must be uncompromised; otherwise, sales and business activities will be uncertain, and investors will lose interest. The internal political issues in any country influence the running of industries. Politics based on race or religion may define the course for certain industries, especially if an industry falls short of political expectations. Elections and changes in leadership also influence an industrys strengths and opportunities and thus should be considered during the analysis. In addition to internal issues, international pressures and influences may affect some industries, such as environmental degradation or product safety. Another factor is terrorism. Though uncommon in many countries, poor or unstable governance may attract terrorist activities, vengeful or otherwise, which can have adverse effects on the industries operating in that country. All these issues may stunt industrial growth and discourage stakeholders from making significant investments.  [13]   The economic aspect of analysis includes many factors. The first factor to consider is the current economic situation and trends in the country in which the industry is based. Companies should note inflation and economic decline so that when it comes to investing, they can avoid being financially affected. Failure to do this results in an economically blind platform that may cause the industrys sudden collapse. Another factor to consider in analysis is taxation rates. When there are high taxation rates in a given country, price-based competition may affect a given industry in the international market. International economic trends are also very important, because they define currency exchange rates, imports and exports. Other factors to consider are consumer expenditure and disposable income and, finally, legal issues, including all trade legislation in a given country and other legal regulations that inhibit or encourage expansion of business activities. Also to be considered are co nsumer protection laws, employment laws, environmental protection laws and quality standardization regulations. Law regulating industrial competition, market policies and guidelines also have a significant impact on the stability of industry and future expansion opportunity.  [14]   When considering the social aspect, factors including demographic changes, shifts in values and culture and changes in lifestyle are important to note so as to strategize on expansion and growth  [15]  . Certain factors, such as media and communities, influence an industrys growth and returns. Brand name and corporate image are also very important in influencing growth and returns since they shape customer loyalty and shareholder investment. The medias views on certain industrial products should be incorporated into the analysis, as should consumer attitudes and sensibility to green issues, that is, issues that affect the environment, energy consumption and waste and its disposal. A companys information systems and internal and external communications should also be analyzed to ensure that it keeps pace with its competitors. Other factors are the policies regulating education, health and distribution of income, all of which, in the long run, influence consumer use of products   [16]  . The technological aspect of analysis encompasses a variety of factors. In addition to developing technologies, all associated technologies, along with their innovation potentials, speed of change and adoption of new technology, should be analyzed for a proper evaluation of the industry. Other technological factors are transportation, waste management and online business. The level of expenditure on RD should also be considered in order to secure the industrys competitive position to prevent losses and collapse  [17]  . 2.2.3 Porters Five Competitive Forces Analysis Porters model, as described by Kay, is an evolution of the Structure-Conduct-Performance paradigm conceived by Edward Mason at Harvard University in the 1930s and detailed by Scherer in the 1980s.  [18]  ,  [19]  The model aims to determine the intensity of industry competition, major issues in determining strategy and whether an industry is attractive or not.  [20]  Porter identified five competitive forces that act on an industry and its environment: threat of entry, intensity of rivalry among existing competitors, threat of substitutes, bargaining power of buyers and bargaining power of suppliers.  [21]   The first competitive force, threat of entry, refers to the threat of new entrants in an established industry or acquisition to gain market share. Reactions of participants and barriers to entry are the main factors used to establish whether the threat is high or low. Six major entry barriers have been identified: capital required to compete in the industry (especially in risky industry, such as advertising or RD) switching costs access to distribution channels economies of scale cost disadvantages independent of scale, such as patents, access to know-how, access to limited resources, favorable locations, government subsidies or policies and learning or experience curves product differentiation expected retaliation from existing firms against the new entrants Strong barriers to the entry of new firms enable a few firms to dominate the market and thereby influence prices. The second force is intensity of rivalry among existing competitors. Rivalry takes place when one or more firms inside an industry try to improve their position using tactics such as price competition, new product introduction or new services. Rivalry depends on several factors: number and size of competitors, industry growth, product characteristics (which determine whether the rivalry is based on price or differentiation), cost structure, exit barriers, diverse competitors, operative capacity and high strategic stakes. If an industry is inhibited, then firms will experience difficulties when trying to expand. The growth of foreign competition and the corporate stakes should also be included in the analysis. Threat of substitutes is the third forces. Substitutes are those products manufactured by other industries but serving the same purposes as the initial product. These substitute products cause the demand to decline. The implications are reduced profits and reduced market command by the original capital investor. This is of particular importance when the buyer has no switching costs and can easily compare products in terms of price and efficiency. Bargaining power of buyers is the fourth force. High bargaining power positions weak firms inside the industry, forcing price down, enhancing competition between industry players and resulting in bargaining for higher quality or services. This power is particularly high under certain conditions, such as few and specific buyers, undifferentiated products, low switching costs, the possibility of backward integration and information about demand and the availability of market price to the buyers. Furthermore, bargaining power is high if product quality is not a crucial factor of decision-making and if what the buyer is acquiring is a modest fraction of his total costs. Bargaining power is even higher when the buyer is a retailer or a wholesaler able to influence the consumers purchasing decision. The fifth and last force is the bargaining power of suppliers. This can act on the industry in several ways: raising prices, lowering quality or privileging some buyers. Supplier power can be divided into several elements. One of these elements is supplier concentration. Suppliers are in a stronger position when there are few suppliers, switching costs are high, the industry they are serving account for a small fraction of their business or their products are an important part of the buyers business. The bargaining power of suppliers is low or nonexistent when there are substitute products. Lastly, purchase volume and the suppliers influence on cost are very important.

The Elements of a Real Athlete Essay example -- Sports Athletics Sport

The Elements of a Real Athlete   Ã‚  Ã‚  Ã‚  Ã‚  When you think of an athlete, what comes to mind? The first things that probably come to mind are sports, entertainment, and physical abilities. If these are the first things you think of, then how would athletes significant? If you look at athletes from a different perspective, their significance can be seen. From this point of view one can see that athletes are significant because they provide role models, contribute to our business world, bring countries or groups of people together, and they provide sources of inspriration. Their prominence, which is enhanced by the media, can cause them to have a greater effect in these types of roles.   Ã‚  Ã‚  Ã‚  Ã‚  Athletes are a big part of the business community. The media exposure athletes receives cause them to be perceived more as celebrities. It causes them to have a greater impact in the marketing and selling of products. For instance, the tremendous amount of media coverage that Michael Jordan received gave him a prominent role in the business world. Athletic companies and various kinds of businesses wanted him to endorse their products. Now, because of his Nike endorsement, the athletic apparel and shoe industries are a big part of the American economy. Through endorsements companies now look upon athletes to strengthen their products. In most cases, this method is usually successful. This gives an overall boost to the economy, hence fortifying athletes’ significance.   Ã‚  Ã‚  Ã‚  Ã‚  With their functi...

Social Mobility vs Structural Mobility vs Exchange Mobility

Social mobility refers to change in an individual's social class position either between their own and their parents' social class or over the course of their working career. Social mobility has taken place between my grandmother, my mother, and me. My grandmother did not finish high school and she became an apartment manager. My mom finished high school and was able to start her own cleaning business. I am currently attending college and I work for a nonprofit organization as a disability services professional.My mom experienced upward social mobility. My grandmother managed an apartment complex for most of her life. My mom was more successful than her mother. My mom finished school and went on to start and run her own cleaning business. I am currently on my way up the success ladder to experience upward social mobility. I am currently attending college for business administration. When I am finished, I hope to be a successful business woman. Within the past three generations of my family, we have not experienced any downward social mobility.My mom was able to be more successful than her mother and I plan to be more successful than my mother. Structural mobility refers to change in society that allows large numbers of people to move up or down the class ladder. Structural mobility has also taken place between my grandmother, my mother, and me. My mother moved up the social class ladder because she was more successful than her mother. Because she was more successful, she had a broader social class of friends. I also moved upward on the social class ladder.With today’s society, it is much harder to find a social class to fit in to. I have been fortunate enough to have a numerous variety of friends from different social classes because I attend college, and because of my work profession. Exchange mobility occurs when large numbers of people move up and down the social class ladder, but, on balance, the proportions of the social classes remain about the sam e. Right now, I do not think that my family is experiencing exchange mobility.It seems that our social classes are not balancing out. Since my mother moved up the ladder and I am also moving up the ladder; that means my families current social class’s ratio is 2:1. If I have a daughter later on in life, she will become the fourth generation of my family. If my daughter was unable to be as successful as I am, that would mean that she would move down the social class ladder. This would make our family experience exchange mobility because our social class’s ratio would then be 2:2.

6 Things to Know When Picking a Family Reunion Location

6 Things to Know When Picking a Family Reunion Location The ideal family reunion site is one which is accessible and affordable for the majority of the people you want to attend. Its a place where everyone can be comfortable and enjoy their time together. When choosing a location for your family reunion, there are some important things to consider. Distance Will the family reunion be just one day, an entire weekend, or a full week? If youre planning a short reunion, most people probably wont be as willing to travel long distances to attend. Select a location close to a majority of family members - possibly a neighborhood park, a family members home, or a local hotel or restaurant. Longer gatherings, especially special one-time reunions, may warrant a more elaborate location such as a cruise, dude ranch, or family resort. Convenience How far will guests have to travel to get to your reunion location? If a number of them will have to travel by air, consider holding your family reunion in an area convenient to a major airport. A location thats accessible and easy to find means that more people will likely attend. Accessibility Do you have people with limited mobility attending your reunion? Elderly relatives in wheelchairs or young children in strollers? Make sure that the location you choose will comfortably accommodate everyone who will attend. Children need safe, supervised areas in which to play, and seniors will welcome comfortable seating and nearby restrooms. Affordability Cost - including rental fees, food, and parking fees - is a significant factor for most family reunions. Make sure that the location you choose fits into your budget, as well as that of your relatives. Many facilities offer group discounts and package deals for family reunions. Accommodations If your reunion is held in a setting that doesnt include overnight accommodations, make sure that a sufficient number of affordable rooms in local homes and hotels are available nearby. Features and Activities What attractions and activities does the reunion site and nearby area provide? Recreational activities such as boating, swimming, golf, and camping can be fun when incorporated into a family reunion. People attending from outside the area may enjoy a location with nearby museums, historic sites, amusement parks, sports facilities, and other attractions. Find a location that makes your reunion less of a meeting and more of a destination. When choosing your location, be sure to ask about facilities such as parking, restrooms and, for outdoor reunions, alternatives in case of rain. To help with the legwork, dont be afraid to make use of local travel bureaus and chambers of commerce. Since they like to bring people to their area, they are usually more than happy to help you with location ideas, lodging and dining listings, and recreation and sightseeing opportunities.

How to Improve the People Contribution to Project Management

How to Improve the People Contribution to Project Management Abstract In the modern day business environment, organizations are constantly forced to exhibit innovation and enhanced performance so as to remain relevant and profitable in an ever increasingly competitive arena. The input of both the individuals and groups in the organization is invaluable to the achievement of organizational goals.Advertising We will write a custom report sample on How to Improve the People Contribution to Project Management specifically for you for only $16.05 $11/page Learn More This research paper sets out to explore various dimensions that contribute towards effective and efficient group processes in an organizational setting. This shall be achieved by going into a detailed discussion as to what effective group processes consists of. To this end, an analysis on what group process refers to shall be offered and its relevance to leadership and organizational development addressed. How these processes affect the levels of commitment and performance exhibited by individuals working in groups shall also be outlined. In addition, a discussion regarding the various issues that may affect group processes shall also be presented. Introduction In the past few decades, the importance of project governance in various sectors has gained prominence. This has mainly been due to the fact that we have been moving into an era where businesses employ most of their resources into various projects which are aimed at increasing productivity, enhance competition and improve quality of goods and services offered. As such, project management mechanisms have been developed to ensure that any proposed project completes its course with little to no complications. Project governance and management often refers to the rules and regulations instituted by an organization to ensure that a project achieves its purpose (Kerzner, 2006). However, in the recent past, there have been many documented reports which indicate that most projects started off by organizations end up failing or fulfilling the expected purpose. Methodology According to McGuire and Ikpa (2008), the most suitable tool to use while evaluating situations is analyzing the correlations that exist between the aspects presented. As such, the study shall use the descriptive correlation research method.Advertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is because it seeks to identify the relationship between two variables which in this case are group dynamics and project success or failure in various organizations. Data used to compile this report shall include peer reviewed articles related to this topic as well as books used in class and other online sources. Group process To have a better understanding of the term ‘Group process’, it would be a worthwhile endeavor to shed some light on what each word means. As regarding to human resource in an organizational setting, a group can simply be defined as a given number of people who carryout various organizational tasks together in a bid to achieve predetermined goals and objectives (Brown Harvey, 2006). A process on the other hand refers to a course of action characterized by a series of stages that is implemented to facilitate the achievement of particular goals and objectives. With these concepts and definitions in mind, we can therefore proceed to defining the term Group process as used in organizational development. Webne-Behrman (2008) defines group process as the procedures implemented by member of an organization who are closely working together in a bid to come up with the best solutions to handle or solve a common problem. Impact of group processes to organizations Leadership refers to a process through which one person uses the help and support of others towards achieving a particular goal or task. Strong leadership is not only desirable but also essential to th e success of the business for it is through it that organizational goals are met. As mentioned earlier, understanding group process enables leaders to support groups as they work towards achieving organizational goals. As Brown (2000) asserts, an expert in group process can be able to evaluate a group’s ability to work as a problem solving and decision-making entity, all the while designing measures to counter undesirable behavioral traits that seem to inhibit the group’s ability to perform as required. Greene Burleson (2003) further contend that the success of any organization depends mainly on the effectiveness and ability of the leader to inspire. Studies have it that the stock prices of well led companies increased by over 900% in a 10 year period as opposed to a bare 74% growth recorded by those companies that lacked good leadership.Advertising We will write a custom report sample on How to Improve the People Contribution to Project Management specificall y for you for only $16.05 $11/page Learn More This fact effectively underscores the importance of understanding group dynamics because a leader is deemed worthless if he lacks the backing and support of a team/group. It is therefore important that all leaders work towards cultivating and generating an intellectual capital for their firms. By understanding group process, a leader is better placed to motivate group members towards working together as a team. This duly gives an organization a competitive advantage over other competitors in the market. In most organization, only a fraction of the capability of the work force is utilized because leaders do not fully understand how best to motivate employees. Huszczo (2004) acknowledges that managers cannot gain much by coercing the employees to work harder. Instead, an increase in productivity can be achieved if the leaders invest highly on retraining programs, ensure availability of essential resources, and provide mot ivational attributes like bonuses, promotions and even pay increments to act as incentives. Such interventions can only be discovered if leaders understand how groups behave and react to certain positive or negative stimuli. An exemplary leader should ensure that his organization has a sense of purpose and is working towards the achievement of some organizational goals. He/she should also set out to generate and sustain trust between the administration, employees and clients. Malhotra (2000) asserts that this will result in the promotion of hope and confidence amongst the organizations worker force. These qualities heighten the levels of optimism within the organization all the while boosting employee’s morale and guarantees future success in all organizational endeavors (Porter Lilly, 1993). However, if a leader does not understand the needs and behaviors of different members of a group, there is a high likelihood that the leader’s efforts to reassure employees will fail because employees tend to follow leaders who understand them and their work needs.Advertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Project management: A brief overview The Standish group (1995) report has for a long time been noted as the landmark report on IT project failures. The report displayed results gathered from executive managers who had invested in various IT projects across different sectors. The results indicated that: â€Å"31.1% of projects will be canceled before they ever get completed. Further results indicate 52.7% of projects will cost over 189% of their original estimates (Standish Group, 1995)†. In regards to success rates, the report indicated that; â€Å"only 16.2% for software projects that are completed on-time and on-budget (Standish Group, 1995)†. Ever since the report was presented, the number of failed IT projects across different sectors has been increasing at an alarming rate. Case study: Queensland Health Government of Queensland Australia Queensland Health is an organization dedicated to the provision of healthcare services to the Australian community. In a bid t o improve its efficiency, accuracy and cost reduction in service delivery, the organization thought it wise to modernize its payroll system (ERP). As such, the project which cost the organization $64.5 Australian dollars was expected to end by June 2010. However, the project which aimed at replacing the aging payroll system that had been in use ended up as a major failure for the organization. This failure not only had serious financial repercussions to the organization, but also left thousands of employees with little to no pay due to major cut-over. Even though, the organization is yet to provide a conclusive report accounting for this failure, the press and business analysts highlighted the major mistakes that were made during the project. Contributing factors as reported by analysts and the press Key contributing factors as documented in various literatures included but were not limited to: poor project planning, lack of clear roles and responsibilities for project team members, poor communication skills and training. In addition, the stakeholders were not engaged effectively in the project and there was evidence of tension between government departments. On the same note, the project managers failed to resolve the complex business processes before implementing the new system. Finally, reports indicate that the project requirements and alignment did not meet the needs of the business. In summary, the project failed due to poor planning, communication, managerial and, risk management skills. The same factors have been documented as being among the core factors that lead to project failures in most businesses. Evaluating group success or failure: A literature review According to Ledingham and Bruning (2000), good communication is considered to be one of the fundamental building blocks of a successful organization. If efficient communication is to take place, there must be some levels of trust exuded and mutual respect by parties involved in any given project . Ledingham and Bruning (2000) advance that interaction with each other leads to greater appreciation and hence building of mutual respect and eventually establishment of trust. Considering the adversarial communication currently exhibited in the organization, team building exercises e.g. sporting activities, interdepartmental parties and other social events would have averted the communication hurdles that led to the project failure. Communication issues are complex and dynamic and therefore no one way can be proposed as solving all the problems involving communication in an organizational context. In order to ensure that communication is effective, it is important to consider the relevant channel of communication as settling for the correct channel ensures the message is relayed in the most appropriate manner. Having communication skills within a group ensures that group members evaluate how they communicate in order to avoid conflicts (Pinto, Pinto Prescott, 1993). As such, it w ould also be vital to develop a relevant message and this ensures that the correct information is passed on. This entails understanding the audience and once accomplished it will then be easier to appropriately develop message (Adair, 2009). Setting objectives that one hopes to achieve through the message can also help ensure the message is not only effective but well understood. In addition, Hashmi (2010) reiterates that project failures are in most cases as a result of poor planning, managerial skills and conflicts. As such, the author proposes that an exemplary project manager should ensure that his team has a sense of purpose and is working towards the achievement of some organizational goals. He/she should also set out to generate and sustain trust between the administration, employees, stakeholders and clients. This results in the promotion of hope and confidence amongst the organizations worker force. These qualities heighten the levels of optimism within the organization all the while boosting employee’s morale and guarantees future success in all organizational endeavors (Hashmi, 2010). Shenhar et al (2002) embark on a sensitive topic regarding business success. The authors state that we live in a world whereby projects play a pivotal role in ensuring that organizations remain relevant in a highly competitive business environment. In their article which evaluates the meaning of project success, the authors reveal the fact that most people term a project as successful when it is completed on time and within the budgetary allocation. However, the authors disagree with this clichà © stating that while this may seem true, there are other factors that need to be considered whenever an evaluation of a project’s success is to be undertaken. In their argument, Shenhar et al (2002) state that in some cases, projects that experienced financial overruns and delays often end up being successful business ventures. As an example, they refer to Micros oft Company which experienced a lot of difficulties as they tried to come up with their first operating system. Even though the project had major delays and resource overruns, it is now used by close to 90% of all operational PCs in the world. This and many other examples shows that project success in most cases is not analyzed as required. In contrast, projects can be completed on time and within the budget but fail to cater for the organizational needs. Nogeste and Walker (2005) suggest that having and sharing a vision has proven to be among the most effective ways of ensuring project success. A vision can be loosely defined as the detailed mental image of things to come. Possessing a vision is paramount for any organization since it gives a sense of purpose and meaning to the organization members (Palmer 2008). As such, it is imperative that in any setting there be a leader who comes up with a future plan and then steer his followers towards its achievement. Visions are often for mulated by an individual or a group of people towards a specific purpose. As such, the visions may be highly personalized and may not necessarily conform to the desires of the majority. As a leader, it is important to communicate such visions to the followers and convince them as to the need to embark on the proposals since it is the followers who will determine the success of the vision (Christenson and Walker 2004). This will act as a source of motivation and morale in their day to day activities. According to Nogeste and Walker (2005), sharing a vision of the future reassures the followers of better days ahead. In addition to this, it provides meaning and a sense of belong to the followers and other stakeholders as they deem themselves as part of something greater. A shared vision inspires and motivates them to aim higher and employ extra effort so as to actualize the vision and make a significant difference in their own capacities (Schneider et al, 2008). This in turn acts as a unifying factor and creates a sense of community between them. In addition to this, Turner (2009) contends that communication of visions provides the followers with a theme of change or transformation. From the definition of project management, it is evident that there are some contributing factors that if well defined may drive a project to success. However, Munns and Bjeirmi (1996) assert that there are some factors that may lead to a project failure. They include but are not limited to, inadequate directions on how the project should be managed, unskilled personnel within the project’s team, lack of commitment or support from team members and top management and poor project planning. These factors suggest that if successful project management is to be achieved, there must be a competent project manager, clearly defined goals and objectives, adequate resources and commitment from all parties involved (Mason Harvey, 2006). Fong (2003), states that for project management to be successful, there are various techniques and tools that should be used to facilitate this. For example, he suggests that all projects should have work schedules, execution plans and effective communication channels. These factors enable the project team to avoid under-costing, overspending and delays. These are the most renowned causes of project failures. In addition, Gido Clements, 2009) reiterate that the success of a project is hinged on the belief that individuals involved in the project will execute their responsibilities accordingly. As such, project management entails defining the roles and responsibilities of each party involved in project activities. Failure to do so may lead to a situation where decisions are made slowly and there are many conflicts during the execution of the project. Conclusion From the discussion presented herein, it is evident that establishing a strong interpersonal bond amongst members of a group is of great importance if an organization is to re main successful. In this report, a definition and description of group process has been provided. Similarly, issues such as discrimination, conflict and miscommunication have been cited as being among the most prevalent factors that can influence the effectiveness of a group. In addition, the impact of group process on individual’s performance and commitment levels has also been discussed. Arguably, understanding group process gives leaders a chance to avert most of the common shortcomings that lead to organizational failures. As such, business leaders should ensure that they take time to understand various group dynamics because the future of their businesses may rely on such knowledge and understanding. References Adair, J. 2009, Effective Communication: The Most Important Management Skill of All, Pan Macmillan, New York. Brown, D. Harvey, D. 2006, An experiential approach to organizational development, 7th edn, Pearson Education. Brown, R. 2000, Group processes: dynamics within and between groups, Wiley-Blackwell, New Jersey. Christenson, D. Walker, D. 2004, ‘Understanding the Role of Vision in Project Success’, Project Management Journal, vol. 35, no. 3, pp. 39-52. Fong PSW 2003, ‘Knowledge Creation in Multidisciplinary Project Teams: an empirical study of the processes and their dynamic interrelationships’, International Journal of Project Management vol. 21 no. 7 pp. 479-486. Gido J. Clements J. D. 2009, Successful Project Management, 4th edn, South Western Cengage Learning, California. Greene, O. Burleson, R. 2003, Handbook of Communication and Social Interaction Skills, Routledge, New York. Hashmi, M. 2010, Identification of the Root Causes of Software Project Failure, Lap Lambert Academic Publishing, USA. Huszczo, G. 2004, Tools for Team Leadership: Delivering the X-factor in Team Excellence, Davies-Black Publishing, USA. Kerzner, H. 2006, Project management: a systems approach to planning, scheduling and controlli ng, 9th edn, John Wiley and Sons, New Jersey. Malhotra, Y. 2000, ‘Knowledge Management New Organization Forms: A Framework for Business Model Innovation’, Information Resources Management Journal, vol. 13, no. 1, pp. 5-14. McGuire, C. K. Ikpa, V. W. 2008, Policy, leadership, and student achievement: implications for urban communities: Achievement gap, research, practice, and policy, IAP, USA. Mason O. H. D Harvey, D. 2006, An experiential approach to organizational development, 7th edn, Pearson Education, New Jersey. Munns, A. K. Bjeirmi, B. F. 1996, ‘The Role of Project Management in Achieving Project Success’, International Journal of Project Management, vol. 14, no. 2, pp. 81-87. Nogeste, K. Walker, D. 2005 ‘Project Outcomes and Outputs: Making the Intangible Tangible’, Measuring Business Excellence, Emerald, UK, vol. 9, no. 4, pp. 55-68. Palmer, E. 2008, Ultimate leadership: winning execution strategies for your situation, Wharton Scho ol Publishing, USA. Pinto M. B., Pinto J. K. Prescott J. E. 1993, ‘Antecedents and Consequence of Project Team Cross-functional Cooperation’, Management Science, vol. 39 no. 10 pp. 1281. Porter T. W. Lilly B. S. 1993, ‘The Effects of Conflict, Trust and Task Commitment on Project Team Performance’, International Journal of Conflict Management vol. 7 no. 4 pp. 361-376. Shenhar, A. J., Dvir, D., Levy, O. Maltz, A. C. 2001, ‘Project Success: A Multidimensional Strategic Concept’, Long Range Planning, vol. 34, pp. 699 – 725. Schneider, M. et al 2008, Groups: process and practice, Cengage Learning, New York. Standish Group 1995, Chaos (Application Project Failure and Success). Web. Turner, J. R. 2009, The Handbook of Project-Based Management: Leading Strategic Change in Organizations, 3rd edn, McGraw-Hill, New York. Webne-Behrman, H. 2008, The Practice of Facilitation: Managing Group Process and Solving Problems, IAP, USA.

CONCEPTUAL ANALYSIS Assignment Example | Topics and Well Written Essays - 500 words

CONCEPTUAL ANALYSIS - Assignment Example There is a great deal of conceptual knowledge to be removed from an application even though it seems to be too obvious to figure out. In light of this, the meaning triangle must be used to extract abstract conceptual knowledge by creating distinctions between conceptual, external and verbal entities. Whereas words (lexical objects) refer to the concrete linguistic entities employed in written text or speech (word node), the concepts represent the tools used to help in the thinking process. Therefore, the concept node represents the constructs utilized in building mental images of the world. Lastly, the referent node represents the physical entities or objects that are viewed as being part and parcel of the outside/external world. Thus, apart from being used to aid in the building of better knowledge based entities now, the meaning triangle will be vital in charting out a way for computer based knowledge acquisition. Conceptual analysis is vital in various aspects according to Sowa (1984). Therefore, conceptual analysis has made it possible to retrieve arguments and ideas from text. Further, it has demonstrated that individuals should look further beyond keyword indexes so as to encourage and develop their own ideas while in the process of looking for information. Also, it is vital to note that conceptual analysis has bridged and narrowed the gap between artificial intelligence audiences and IR audiences. Further, conceptual analysis was not binded by any single rigid syntactic formula or linguistic theory. As a result, conceptual analysis has been used to explain and express concepts such as cybernetics. Although the early definition of cybernetics was broad and included artificial intelligence, the rapid development of the field brought out the differences between cybernetics and artificial intelligence. However, conceptual analysis has attempted to bridge and lower this gap. Additionally, conceptual

The Potential Causes of Female Violence Essay Example | Topics and Well Written Essays - 500 words

The Potential Causes of Female Violence - Essay Example However, one can see that ‘Women are more likely to commit crimes now than in the past, although women who commit crimes are more likely to be arrested for nonviolent property crimes compared to male criminals whose crimes are more likely to involve violence’ (The White House). But an overview of some of the female offenders in America proves that there were women who engaged in violent crimes like men. One of such examples can be cited with Aileen Wuornos, a very notorious female serial killer and prostitute who took the life of seven men in Florida from 1989 to 1990 (Criminal Justice Degrees Guide, 2013). The way she committed the crimes are more aggressive than the male offenders and she won in her attempts to escape from trial till she commits the seventh murder. Analyzing the social factors that contributed her criminal behavior, one can see that Wuornos had a rocky upbringing that led her into prostitution at a young age. The improper guidance she received from the tender age itself had channelized her into criminal activities such as disorderly conduct, assault, armed robbery and theft. Considering the psychological reasons for her criminal behavior, it is evident that her social background is the main culprit. She committed all these crimes to make money in order to help support Tyria Moore, a hotel maid, to whom she had established an intimate relationship (Criminal Justice Degrees Guide, 2013). When Wuornos felt that her prostitution earnings are insufficient to help the maid she turned to criminal activities by robbing her customers and shooting them. Regarding the biological factors, one is sure that naturally a woman cannot overpower a man physically. Therefore, Wuornos engaged in sexual contact with her customers and after making them physically weak, she shot them to death. Among violent female offenders, 53% committed the offense while alone, and 40% were with others, all of whom were female (Greenfeld, L.A., Snell, T. L., 1999). The