Sunday, May 24, 2020
The Role of Disease in European Exploration and Colonization
The Role of Disease in European Exploration and Colonization Human mobility, in terms of European transcontinental exploration and colonization, began to truly flourish after the 1400s. This travel, inspired by financial motives and justified by religious goals, resulted in the European dominance and decimation of countless cultures in both the Americas and Eurasia. While at first glance it seems as though this dominance was achieved through mainly military means - European militias, like Spanish conquistadors, rolling over native tribes with their technologically advanced weapons - the reality is significantly more complex. The Europeans, most likely unknowingly, employed another, equally deadly weapon during their exploits.â⬠¦show more contentâ⬠¦However, disease on the epidemic scale did not appear till certain conditions existed, conditions created namely by the Agricultural Revolution. As communities became more sedentary and developed a more stable means of food production through the domestication of animals and irrigation proces ses, populations were able to increase at exponential rates, one of the fundamental prerequisites for an epidemic outbreak. An increased population translated into closer living conditions, less sanitary means of waste disposal due to sheer volume, and typically, poorer nutrition, making people more susceptible to a breakdown of the immune system. A higher population, in comparison to that of their hunting and gathering predecessors, meant a greater chance for contracting an illness. Equally important, the Agricultural Revolution demanded the domestication of animals. In living in close proximity to cattle, hogs, and other useful livestock, a phenomenon known as species cross-over took place. This species cross-over refers to the mutation of diseases typically found in livestock to a new form that seeks out a human host. The most classic and devastating example is small pox, a highly fatal disease that causes sores to form on the body and known in cattle as cowpox (Ponting, 225-226) . This, coupled with irrigation, providing a host for water-born diseases like malaria and schistosomiasis, sheds a bit of light on the magnitude of the influence of the AgriculturalShow MoreRelatedChristopher Columbus : A Hero Or Hero?1445 Words à |à 6 Pagesââ¬Å"New Worldâ⬠of the Americas in 1492 as the result of an expedition sponsored by the Spanish monarchy Isabella of Castile and Ferdinand of Aragon, in hopes of finding an alternate trade route to Asia, the source of luxury and wealth in the eyes of Europeans. Altogether Columbus commanded four expeditions under the Spanish monarchy between 1492 and 1504. Although Columbus never found an alternate lucrative trade route to Asia, Columbusââ¬â¢s encounter with America in 1492 forever changed world history, symbolizingRead MoreAmerican History Essay938 Words à |à 4 Pagesï » ¿ Question 1 Prior to the arrival of Europeans, the Iroquois developed a confederation to: control violence that may have occurred over territory conflicts. Question 2 The religious dissatisfaction, that ultimately played a factor in the colonization of the New World by Separatists, began in 1517 when which of the following men publically protested the Catholic Church? Martin Luther Question 3 Refer to the map entitled Indian Groups in the Areas of First ContactRead MoreEuropean Colonization Of Europeans And Native Americans1503 Words à |à 7 Pagescatastrophic epidemics from the European conquest. The spread of diseases between Europeans and Native Americans led to a demographic calamity. The earliest explorations from European countries introduced a plethora of diseases; these diseases hindered the Nativeââ¬â¢s population and way of life. Not only early explorations of European countries impacted the indigenous people, but the settlement and encounters with Europeans in the twentieth century did as well. Before Europeans voyaged to the New World,Read MoreEuropean Exploration And Trade During The Age Of Discovery975 Words à |à 4 Pagesfor some of historyââ¬â¢s darkest ages. European exploration and trade during the age of discovery is what indirectly created what we today call America. The world that we see today can be attributed back to Portugal as it pioneered a niche in expedition for European culture. European exploration and trade began in the 15th century with Portugal as they played a very significant role to the age of discovery, a period of time that designated Europe as an exploration powerhouse. Portugal paved the pathRead MoreEssay on The Columbian Exchange1075 Words à |à 5 Pagesexplorers created contact between Europe and the Americas. The interaction with Native Americans began the exchange of animals, plants, disease, and weapons. The most significant effects that the Colombian Exchange had on the Old World and New World were its changes in agriculture, disease, culture, and its effects on ecology. The immediate cause of the European voyages of discovery was the conquest of Constantinople by the Ottoman Turks in 1453. While Egypt and Italian city-state of Venice wasRead MoreThe Age Of Exploration And Its Effects On Economic And Political Power1611 Words à |à 7 PagesSummative As European economy grew, and became more reliant on a cash system, replacing the land-based system of feudalism. The power shift is prominent, shifting from the lords and nobles to the merchants of the middle class. The Age of Exploration has provided a framework for economic life around the world for several centuries while also shaping politics, social relations, cultures, and natural environments, changing the very nature of society. Of course the most important aspect of this modernisticRead MoreThe Control of England in North America and Demise of the Spanish Power in the Atlantic1490 Words à |à 6 Pagescreation of European colonies across the Western region (Cohen and Rosenzwei 124). This paper is focused on establishing the main events that made England to gain control over the Atlantic and establishing settlements in North America. The paper also explores the major events that led to the demise of Spanish power in the Atlantic. This will be done through looking at a num ber of factors including commerce, the rise of competing nations that presented an encouragement for the exploration and colonizationRead MoreChristopher Columbus s Discovery Of The America1132 Words à |à 5 PagesChristopher Columbusââ¬â¢s discovery of the Americaââ¬â¢s was monumental. His exploration of the New World impacted the culture, and development of America. One of these effects was the expansion of goods and products in the decades after Columbusââ¬â¢s first contact with Americans. Other effects included how these goods and products affected Amerindians and Europeans which also influenced the Columbian Exchange. Christopher Columbusââ¬â¢s influence on the Americas and Europe is the main reason why he is stillRead MoreImpact Of Globalization On The Middle Of The Twentieth Century1480 Words à |à 6 Pagestwentieth century. Each of these new eras marked developments in advancements in communication, human rights, womanââ¬â¢s rights, religiosity and phil osophy, technology and lastly in economics. Europeans in the late fifteenth century were driven to explore. Shipping by sea was becoming popular. In the 1400s many European monarchs faced a problem, as they tried to import spices and silks from China and India, they were threatened by the Ottoman Empire who controlled Eastern Europe as well as the VenetianRead MoreCulture Is A Common Way Of Life Essay1190 Words à |à 5 PagesFamily background and individual experiences also contribute to these differences. These lead to differences in practices, beliefs and expectations from each other. The purpose of this essay is to establish how the differences in Native Americans, Europeans and Africans leave each both prepared and unprepared for contact with each other. It will explore the challenges they face as well as the positive and negative outcomes of this contact. Native americans Their cultures were matrilineal and their
Wednesday, May 13, 2020
Analysis Of The Butterflys Evil Spell - 1826 Words
The Butterflyââ¬â¢s Evil Spell has followed the theme of Maeterlinckââ¬â¢s plays, The Blue Bird with their poetic and symbolist elements, Josà © more Guà ¡rico refers to a poem which Lorca destroyed in which a butterfly falls into the nest of cockroaches, is cared for by their until recovers her health again, young cockroach falls in her love but she flies away after rejecting his proposal. Lorca has followed the next poem The Discoveries of an Adventure onus Snail, in which the story of the snailââ¬â¢s meeting with a colony of ants and the snail questions them and aware the fact that the ant is die because he has seen the stars. As he dress, the ant thinks a bee who comes near him as it is like a star, the shall likewise the cockroach, full of confusedâ⬠¦show more contentâ⬠¦27-29) Lima has explained the mysteriously concept of Lorca and says that Lorcaââ¬â¢s most famous play ââ¬â Blood Wedding ââ¬â is evidence that he had ââ¬Ëmastered the techniques of two of the twentieth centuryââ¬â¢s most significant movements and put them to the service of his own highly individual art. (Edwards Dramatists in Perspective: Spanish theatre in the twentieth century 108) Lorcaââ¬â¢s Blood Wedding has been compared to the tragedy of J. M. Syngeââ¬â¢s Riders to the Sea in the following subject matter such as, The Sea has great influence in the above play and through it Maurya has lost her all male members. The very beginning of the play which start with awaiting of Michaelââ¬â¢s dead body and there were not passed so much time as Mauryaââ¬â¢s last surviving son makes plan to go across the sea. The sea is a vast expanse of water. But in this drama it becomes the symbol of fate which is merciless. It is an archetypal symbol. For the people of this i sland the sea is a source of their livelihood. They have to go maintain across the sea so the sea is a giver of life and in other sense a taker of life too. Maurya is the heroes of ancient Greek Tragedy who were foredoomed to suffer. They were destroyed by the gods or by Destiny. For Maurya the sea becomes the agent of the fate. Her father in law, her husband, and her six strong sons are all swallowed by the sea. The men seem to be under a judgment of death by drowning. Their lives depend
Wednesday, May 6, 2020
New Developments in Technology Management Free Essays
The teaching of technology management has a long history in business schools. However, the nature and focus of such curricula have changed in recent years, due to several trends. The rise of a knowledge-based economy has brought greater attention to the management and commercialization of intellectual property (Markman, Siegel, Wright, 2008). We will write a custom essay sample on New Developments in Technology Management or any similar topic only for you Order Now Questions regarding the appropriate business models to foster successful commercialization have been further complicated by the rise of ââ¬Å"open-sourceâ⬠innovation (e. g. , Linux, a software company that has captured substantial market share). And new institutions (e. g. , incubators and science parks; Phan, Siegel, Wright, 2005) and new organizational forms (e. g. , research joint ventures [RJVs], and technology alliances) have emerged that may also have profound effects on technology management education. Nonprofit institutions, most notably universities and federal laboratories, have become much more aggressive in protecting and exploiting their intellectual property (Siegel Wright, 2007). Such institutions, es324 Copyright of the Academy of Management, all rights reserved. Contents may not be copied, emailed, posted to a listserv, or otherwise transmitted without the copyright holderââ¬â¢s express written permission. Users may print, download or email articles for individual use only. pecially universities, are also working much more closely with industry and government. These trends and growing involvement of government and nongovernmental institutions in innovation and commercialization have led to growing international recognition of the narrowness of technology management education as it is practiced today. Some business and engineering schools have responded to these developments by designing new courses and curricula related to technological entrepreneurship. Some countries with centralized educational systems (e. g. , Japan, Singapore, and Ireland) are graduating ââ¬Å"bilingual engineersâ⬠with capabilities in technology and business. Yet, this trend of marrying technology with management education is still far from being in the mainstream. Another important development in stimulating and changing the nature of the demand for technology management education is the rise of knowledge and intellectual property management as a professional field. In many countries, national governments have supported these initiatives by en- 2009 Phan, Siegel, and Wright 325 acting legislation to facilitate publicââ¬âprivate research partnerships, technology transfer (through patenting and licensing) from universities to firms (e. g. , the Bayhââ¬âDole Act of 1980), and collaborative research. For example, the EU, China, and Singapore have established technology-based venture funds to stimulate the development of technologybased start-up companies. In the United States, the national ââ¬Å"public sector venture capitalâ⬠for technology-based new ventures, the Small Business Innovation Research (SBIR) program and numerous state-level programs with similar goals (e. g. , Ben Franklin Technology Partners, Pennsylvania, and the Massachusetts Technology Development Corporation) have propelled technology transfer issues to the forefront of university technology management curricula. Government is also providing subsidies for research joint ventures involving universities and firms (e. g. , the Commerce Departmentââ¬â¢s Advanced Technology Program/Technology Innovation Program), shared use of expertise and laboratory facilities (e. g. , the National Science Foundationââ¬â¢s Engineering Research Centers and Industryââ¬â University Cooperative Research Centers), and programs to promote management and entrepreneurship education among scientists and engineers (e. g. the Science Enterprise Challenge in the U. K. ). These and other trends discussed here have led to experimentation and innovation in technology management pedagogy and content, which is the focus of this special issue. For example, it is obvious that the rise in collaborative research and commercialization has important educational implications, since it implies that team-work has become more important in science and engineering, especially when both innovation and commercialization are involved . This has resulted in the increasingly popular use of real-life team projects as the primary method of delivering discovery-based learning. Our purpose in this special issue is to assess the implications of these trends for technology management curricula in business schools. In spring 2008, we issued an open Call for Papers on the Academy of Management website, the Social Science Research Network, and other venues. We received 38 manuscripts, which were reviewed according to AMLE standards for the Research Reviews section. Papers were also solicited for the Essays, Dialogues, Interviews and Exemplary Contribution sections, which were subject to the usual peer-review process. Based on the results, we selected several manuscripts for inclusion which are summarized in Table 1. The remainder of this essay is organized as fol- lows: First, we describe recent public policy changes, which have promoted universityââ¬â industry partnerships, collaborative research, and technology transfer from universities and federal labs to the private sector. Then, we discuss the educational implications of these trends, drawing on some of the lessons learned from the papers in special issue. Finally, we outline an agenda for additional research on technology management education. PUBLIC POLICY INITIATIVES INFLUENCING TECHNOLOGY MANAGEMENT In recent decades, we have witnessed rapid growth in the incidence of a variety of research partnerships and technology commercialization involving corporations, universities, nonprofit organizations, and government agencies. This growth can be attributed to three policy initiatives: â⬠¢ Policies promoting the transfer of technology from universities and federal labs to firms â⬠¢ A large increase in the incidence of publicââ¬â private partnerships â⬠¢ Relaxation of antitrust enforcement related to collaborative research Examples of such technology partnerships are research joint ventures, strategic alliances and networks involving high-technology organizations, industry consortia (e. g. SEMATECH), cooperative research and development agreements (CRADAs) involving federal labs and firms, engineering research centers (ERCs), and industryââ¬â university cooperative research centers (IUCRCs) sponsored by the U. S. National Science Foundation, federally funded research and development centers, science parks and high-technology incubators (many of which are located at universities), and licensing and sponsored research agreements involving universities, government laboratories, firms, and un iversity-based start-ups. Table 2 summarizes the key U. S. egislation promoting governmentââ¬â universityââ¬âindustry partnerships, collaborative research, and technology transfer/commercialization. The most important legislation in this regard is the Bayhââ¬âDole Act of 1980, which dramatically changed the rules of the game with respect to the ownership of intellectual property rights of technologies emerging from federal research grants. Bayhââ¬âDole conferred the right to universities to patent and claim the scientific discoveries arising from U. S. government-funded research, instituted a uniform patent policy across federal agencies, and lifted numerous restrictions on technology licensing. As a result of this legis- 326 Academy of Management Learning Education September TABLE 1 Summary of Papers Authors Barr, Baker, Markham, Kingon Key Research Question Discovering how to teach technological entrepreneurship skills that will help bridge the ââ¬Å"valley of deathâ⬠in COT between creation of technology and emergence of a commercial venture. Theory/Framework Van Burg et al. (2008) science-based design framework of five factors critical to enhance science-based start-ups; cognitive theory; theory of planned action. Data/Methods Analysis of development of a COT program for MBA, PhD, and masterââ¬â¢s students at North Carolina State over 14year period. Findings/Conclusions Enactive mastery experiences have to be perceived as authentic and real to have desired effect; importance of loosely structured handson engagement; program needs to be real, intensive, interdisciplinary and iterative; need to create temporal checkpoints, decenter business plans, to structure large blocks of time, to emphasize and balance team diversity, generate technology flow, beware of idiosyncratic heuristics. Significant positive effects of the program on student perceptions of the multidisciplinary capabilities needed to operate in a technological business environment. Thursby, Thursby, Fuller What are the benefits and challenges of integrated approaches to graduate education in technological entrepreneurship? Theory of the Firmââ¬âEconomic Approach to Evaluation. Austin, Nolan, Oââ¬â¢Donnell How to design a student experience in technology management that addresses the learning cycle more completely, while maintaining very high levels of student engagement. Experiential learning theory. Ordered logit analysis of program assessment data including pre- and postsurveys and a control group relating to a NSF-sponsored integrated program at Georgia Tech and Emory University involving PhD, MBA, and JD students. Programs at universities in two countries, MNC executives, and open enrollment course at a business school; combination of case and traditional lecture-based approaches; narrative approach based on monomyth; student course feedback and follow-up 1 year later. Verzat, Byrne, Fayolle Boni, Weingart, Evenson What teaching methods can be used to create entrepreneurial engineers that have a keen sense of teamwork? Are games an appropriate pedagogical device to meet the specific learning needs of engineering students? Can games help engineering students learn about teamwork? How to teach skills of creating disruptive innovations and develop new business opportunities through blending entrepreneurial thought and action, design thinking, and team building. Education science and team process; Kirkpatrickââ¬â¢s 4level hierarchy of evaluation. Use of team games in a traditional elitist French teaching context that emphasizes individual learning; evaluation data collected from 111 groups on initial reaction to the game and interviews 3 months later. Approach works at multiple student levels with same materials but emphasis differs across groups; able to use with introductory and capstone courses; approach acts as a leveler in class as all can engage with the ââ¬Ëstoryââ¬â¢; issues concerning integration of supplementary materials, lack of ââ¬Ëclosureââ¬â¢ in each class, use of fictionalized cases. Games rated a positive reaction from students despite being an informal departure from normal formal approach; real learning outcome in exposing students to importance of team working. Disruptive innovation, entrepreneurial leadership, design thinking, and team building. Capstone course for MBA Entrepreneurship in Organizations Design masterââ¬â¢s students at Carnegie Mellon involving team teaching; Multidisciplinary teams of designers, technologists, and business student entrepreneurs. It is important to blend three perspectives for effective commercialization of innovation: (1) entrepreneurial thought and action, (2) design thinking, and (3) teambuilding. A key feature of this project-based course is the collaboration between MBA students and School of Design students, which leads to the development of new business opportunities. (table continues) 2009 Phan, Siegel, and Wright 327 TABLE 1 Continued Authors Clarysse, Mosey, Lambrecht Key Research Question What are implications for developments in technology management education of contemporary challenges such as globalization, open innovation, and the need for corporate renewal (and venturing)? Theory/Framework Technology management skills provision. Data/Methods Qualitative analysis based on interviews with 10 technology management education demand- and supply-side actors in universities, consultancies, and corporations across Europe. Findings/Conclusions Technology Management Educations is a dynamic field moving from traditional MBA focused programs towards more entrepreneurial ââ¬Ëbootcampsââ¬â¢, from a case study oriented teaching style towards a mentoring approach and from an emphasis upon general business towards working across disciplines yet being sensitive to underlying technologies; a shift from general to specific skills; Linkages between business schools and technology chools is an important element of this change. Courses in IP management, management of industrial RD, systems architecture and engineering could only be offered by transfer to School of Engineering; traditional professional degrees can be enhanced by integrating management of technology programs into core engineering curriculum; advantages of offe ring part-time courses for those in employment. Need to find a subtle balance between traditional didactic courses, presentations of leading edge research, workshops and meetings with practitioners, field studies and involvement in real projects through internships (including outside France); need for faculty to have close links with industry both domestically and abroad; important use of concurrent teaching modes. Hang, Ang, Wong, Subramanian How can management of technology programs curricula be designed to meet the needs of a small newly developed Asian country? Action learning as a foundation for curriculum design in technology intensive technology management programs. Qualitative analysis of transfer of MSc in Management of Technology from business school to a school of engineering in Singapore Mustar How to develop a highly selective technology management course for students in a leading French engineering school, in an institutional and country environment traditionally resistant to the notion of entrepreneurship, that develops their entrepreneurial skills but which goes beyond an introductory course on how to start a business. How to combine the acquisition of knowledge and the development of skills. How to develop their entrepreneurial skills and their ability to take responsibilities. How to encourage imagination, creativity, involvement, and risk taking. Qualitative analysis of the case of innovation and entrepreneurship in Mines Paris-Tech, a leading French engineering school. lation, U. S. research universities established technology transfer offices to manage and protect their intellectual property. The Stevensonââ¬âWydler Act, enacted in the same year as Bayhââ¬âDole and then extended in 1986, required federal labs to adopt technology transfer as part of their mission and also authorized cooperative research and development agreements (CRADAs) between the labs and private organizations. The National Cooperative Research Act (NCRA) of 1984 and the National Cooperative Research and Production Act (NCRPA) of 1993, promoted collabo- 328 Academy of Management Learning Education September TABLE 2 Key U. S. Legislation Promoting Governmentââ¬âUniversityââ¬âFederal Labââ¬âIndustry Partnerships, Collaborative Research, Technology Transfer/Commercialization Legislation Bayhââ¬âDole Act of 1980 Key Aspects of Legislation Transferred ownership of intellectual property from federal agencies (which sponsor most basic research) to universities; Spurred the growth of university technology transfer offices, which manage university patenting and licensing. Required federal labs to adopt technology transfer as a part of their mission; Authorized cooperative research and development agreements (CRADAs) between federal labs and private organizations. Created the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which require each federal agency to allocate a percentage (now 2. 5%) of their research budget to small business research with commercial potential. NCRA and NCRPA actively encouraged the formation of research joint ventures and joint production ventures among U. S. firms. Institutions Affected by Legislation Universities; teaching hospitals; firms Stevensonââ¬âWydler Technology Innovation Act of 1980; Federal Technology Transfer Act of 1986 Federal labs; firms Small Business Innovation Development Act of 1982 Universities; small firms; venture capital firms National Cooperative Research Act (NCRA) of 1984; National Cooperative Research and Production Act (NCRPA) of 1993 Omnibus Trade and Competitiveness Act of 1988; America COMPETES Act (2007) Firms; universities The 1988 act established the Advanced Technology Program (ATP), a publicââ¬âprivate research program. In 2007, the America COMPETES Act created the successor to ATP, the Technology Innovation Program (TIP). Firms; universities rative research by eliminating antitrust concerns associated with joint research even when these projects involved firms in the same industry. The NCRA created a registration process, later expanded by the National Cooperative Research and Production Act (NCRPA) of 1993, under which research joint ventures (RJVs) can disclose their research intentions to the Department of Justice. The most notable research joint venture established via the NCRA registration process was SEMATECH (SEmiconductor MAnufacturing TECHnology), a not-for-profit research consortium, which provided a pilot manufacturing facility, where member companies could improve their semiconductor manufacturing process technologies. Other legislation created two key publicly funded technology programs: (1) the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which require each federal agency to allocate a percentage (now 2. 5%) of their research budgets to small businesses with commercial promise, and (2) the Advanced Technology Program (ATP), a publicââ¬â private research program, which funds collaborative research on generic technologies. In 2007, the America COMPETEs Act created the successor to ATP, the Technology Innovation Program (TIP). Universities are actively involved in both programs, working closely with large firms on ATP/ TIP research projects, as well as with small companies on SBIR/STTR, sometimes founding these firms. As a result, many technology management curricula in the United States are now infused with a public policy dimension that was previously missing. Table 3 presents global evidence on key policy changes relating to the legislative and support environment for technology commercialization in five nations: France, Germany, Italy, Singapore, and the United Kingdom. For example, according to Meyer (2008), Austria, Denmark, Finland, Germany, Italy, and Japan have adopted ââ¬Å"Bayhââ¬âDole likeâ⬠legislation, emphasizing a ââ¬Å"patent-centeredâ⬠model of university and national laboratory technology transfer. The United Kingdom and Israel have always had a system of university-owned 2009 TABLE 3 Legislative and Support Environment for Technology Commercialization in France, Germany, Italy, Singapore, and the U. K. Germany 1999 Public researchers receive the right to be the owner of their IP. This is the opposite of the Bayhââ¬âDole Act, but oftentimes the university makes a formal contract on an individual basis to give the IP rights to the university. 2002 Employer Invention Law: Invention belongs to the employer not to the professor. 2000ââ¬â2006 Restructuring of various laws to make it easier to commercialize technology from universities, get part of the royalties as an academic, take equity in start-ups, etc. Italy Singapore U. K. No formal Bayhââ¬âDole Act. In the case of UK public research organizations the IP is owned by the institution and the royalties associated with the IP are distributed between the relevant parties. The distribution of royalties is organized on an institutional basis. Milestone France I. University Ownership of Intellectual Property Arising From Federal (National) Research Grants (e. g. , Bayhââ¬âDole Act in U. S. ) Not relevant as all IP belongs to universities/public research institutes following the ââ¬Å"code intellectuelle de la propriete. â⬠II. Other Key Changes 1999 Innovation Act gives the possibility to academics who are civil servants to participate as a partner or a manager in a new company and to take equity (previously illegal for civil servants). This Act encourages the creation of new start-up firms by students. 2002 Decree that regulates and increases the personal income an academic can receive from IP (50%). Phan, Siegel, and Wright III. Financial Support 1999 11 (pre-) seed capital funds created to invest in innovative start-ups and take equity (investment in 150 spinoffs in 8 yrs). Creation of the annual National Competition for the creation of technologically innovative startups (grant from 45,000 to 450,000 Euros); 12,927 projects have been presented between 1999 and 2007: 1,879 have been funded. Creation of 29 incubators between 1999 and 2007; they hosted 1993 projects giving birth to 1,239 new firms. Between 1999 and 2007, these 3 schemes have benefited 1,760 new firms (taking into account that a company can benefit from different schemes). Around 50% are academic spin-offs. 2000 EXIST: public program that assists spin-offs through preseed capital and management support. 2002 EEF-Fund: Researchers can receive a scholarship to start a spin-off. 2002 22 TTOs established which take care of IP management. 999 National Research Commission created, which annually funds about 5-10 proposals for spin-offs, amounting to 30,000 Euro, on average. 2005 Quantica Fund. First interuniversity seed capital fund (a form of publicââ¬âprivate partnership) is created. 2005 Italian University technology transfer offices have to join together in groups of four and bid for money (100,000 Euro/university) to sponsor their day-today operations. 1963 Forms tripartite macroeconomic structure of in dustry, labor, and government as basis for funding innovation and economic development. 001ââ¬â2008 National initiative to focus on microelectronics, biotechnology, nanotechnology, materials science, healthcare and life sciences as part of national innovation initiative. The right to commercialize IP are assigned to the faculty. 2001 Economic Development Board charged with the implementation of the 5-Year Science and Technology Plan which includes initiatives to target key technology sectors, attract foreign investment and human capital, and accelerate technological entrepreneurship and technology commercialization. Agency for Science, Technology and Research or A*STAR) created to fund and create infrastructure of industryââ¬â university joint research efforts in strategic technology sectors. 2005 The governmentââ¬â¢s funding plan is to increase RD expenditure to 3% of GDP by 2010, from the 2004 RD expenditure of $2. 5 billion US (about 2. 25% of GDP). 2007 Public sector RD budgets more than doubled to $13. 55 US billion from 2005, comprised of $5 billion US for the National Research Foundation (NRF), $5. 4 billion US for the Public Research Institutes housed in the Agency for Science, Technology and Research (A*STAR). 1. 05 billion US for academic (universitybased) research. $2. 1 billion US for the Economic Development Board (EDB) to promote private sector RD. 1970 onward Various schemes to promote collaborative projects between universities and industry, including Knowledge Transfer Networks. 1998ââ¬â2004 Higher education reaches out to business and the community to provide funding to establish corporate liaison offices and collaborative projects. 1998 University Challenge Funds (UCFs): Universities were granted funds to support spin-off and limited incubation support. 001 onward HEIF (Higher Education Innovation Fund) provides permanent flow of funding to support develop universitiesââ¬â¢ capacity to act as drivers of growth in the knowledge economy (various rounds up to 2008). (table continues) 329 330 TABLE 3 Continued Germany Italy Singapore UK Milestone France In 2005, six ââ¬Å"Maisons de lââ¬â¢entrepreneuriatâ⬠in different universities have been created. They aim at facilitating the promotion of the entrepreneurial spirit and mind-set and ââ¬Å"sensitizationâ⬠to the new business start-up or new activities. Academy of Management Learning Education Science Enterprise Challenge funding (1991/2001), to encourage culture open to entrepreneurship required for successful knowledge transfer from science base. Teaching entrepreneurship to support the commercialization of science and technology to produce graduates and postgraduates better able to engage in enterprise. Establish a network of UK universities specializing in teaching and practice of commercialization and entrepreneurialism in science and technology. 005 Medici Fellowship Scheme, pilot providing 50 fellowships over 2 years focusing on commercialization of biomedical research; fellows required to have significant prior research; local training in host institution in finance, marketing, IP, business strategy; fellows encouraged to develop links with practitioners; postpilot further funding obtained to extend remit to include engineering researchers from 2007ââ¬â2009; analogous schemes subsequently created by Research Councils a nd Regional Development Agencies and from 2007ââ¬â2009 mainly focused in life sciences. Regional Development Agencies providing broad spectrum of assistance to develop more productive links between universities and industry. 2007ââ¬â2011 Technology Strategy Board strategic plan envisages investing ? 1 billion of public funds plus matched funds from industry over 2008-2011, in doubling number of innovation platforms, a strategic review of Knowledge Transfer Networks, doubling number of Knowledge Transfer Partnerships, developing strategy to rapidly commercialize new and emerging technologies, piloting a new Small Business Research Initiative. September Information sources: Clarysse et al. (2007); Mustar Wright (2009); and Koh Phan (In Press). 2009 Phan, Siegel, and Wright 331 intellectual property. An increase in funding for technological entrepreneurship in many countries (see Table 3) has also stimulated greater interaction among firms, universities, and national labs, as well as the rise of intellectual property management curricula and courses at these institutions (for detailed comparison of France and the U. K. , see Mustar Wright, 2009). EDUCATIONAL IMPLICATIONS OF THESE TRENDS The end result of these global trends is an increased emphasis on collaborative research, commercialization of intellectual property, entrepreneurship, venture capital, and research centers dedicated to emerging technologies, such as Organic LEDs, nanotechnology, biotechnology, materials science, MEMS, and so on. Such trends have brought new issues and perspectives, propelling the role of education to the forefront of discourse (e. g. , the recent AMLE special issue on entrepreneurship education). Conventional technology management and management of innovation curricula have focused largely on understanding the technology and innovation strategies of multinational firms (Nambisan Willemon, 2003). There has been, until recently, less emphasis on start-up and entrepreneurial technology-based firms. The differences can be significant. For example, in the traditional curriculum, the role of teamwork, especially linking interdisciplinary teams of agents (scientists, technology managers, and entrepreneurs) and institutions (firms, universities, government agencies) have not been stressed. That is, the individual and institutional levels of analyses have been ignored, such that technology management education curricula have been confined to how organizations respond to technological challenges. The developments in technology management education considered in this special issue can be seen as a response to the challenges leveled at business schools to be relevant to the practice of management (Pfeffer Fong, 2002, 2004; Starkey, Hatchuel, Tempest, 2004). At the same time, such programs that reside in business schools, when detached from the engineering and science faculties of their universities, run the risk of treating the technology component as a special case of general management. Our review of the literature and the lessons learned from this special issue suggest that a fully matured technology management program should treat technology with a capital ââ¬Å"Tâ⬠rather than the small one it has been to date. To accomplish this design goal, business schools eed to appoint program directors with strong boundary-spanning skills that can link up with technology-based units on and off campus by colocating or partnering with such institutions. We note that the challenge of integration is not easily solved. Over the years, business schools in the United States and United Kingdom have chosen to remain independent from the rest of their universities. This was partially enabled by the largesse of endowments in the 1980s and 1990s po uring in from private foundations and industrialists seeking to establish their names in perpetuity. Clarysse, Mosey, and Lambrecht (this issue) hypothesize that this is not a wise strategy for business schools administering technology management curricula. The authors conclude that business schools should expand their educational mission to include the education of engineering and science professors and researchers, and the training of postgraduate science and engineering students, since these individuals are more likely to choose an industry or technology-specific masterââ¬â¢s degree, instead of a traditional MBA. More generally, business schools need to have a stronger connection to schools of engineering and the sciences, and other technology-orientated organizations in the areas of medicine, public health, and pharmacy, as well as science-based business incubators and science parks. While acknowledging Clarysse et al. ââ¬â¢s points, we are concerned that each of these institutions has different paradigms, norms, standards, and values, as well as diverse languages and codes. Thus, it may be necessary to develop a shared syntax of boundary objects that include repositories, standardized forms, objects and models (Carlile, 2002). These communication devices enable individuals in business schools and technologybased schools to learn about their differences and dependencies, as well as jointly to evolve their knowledge bases about how things work ââ¬Å"on the other side. â⬠Hence, the recruitment and development of boundary spanners (such as program managers, center directors, or interdisciplinary faculty members) who can communicate across schools are important to facilitate such integration (see e. . , the Medici Scheme, Table 3). Another concern regarding the optimal design of technology management curricula arises in relation to the overall configuration of business schools. Ambos, Makela, Birkinshaw, and Dââ¬â¢Este (2008) have argued that for universities to be effective at technology commercialization there is a need for ambidexterity in the organizational structures of these traditional research and teaching institutions. Similarly, with respect to technology 332 Academy of Management Learning Education September management education, business schools must make their organizations more porous, for example, through the hiring and promotion of faculty with science and engineering degrees. Such ambidexterity configurations will enable business schools to more tightly bind the traditional business disciplines to science and engineering disciplines. The papers in this pecial issue challenge the proposition of Suddaby and Greenwood (2001), who asserted that business schools can sustain demand for new managerial knowledge through the education and accreditation of a continuing stream of management students. While it is true that there has been substantial growth in demand for courses in entrepreneurship and innovation in MBA and undergraduate programs, the ability of business schools to deliver these programs beyond an introductory level is open to debate, especially when faculty in such schools traditional ly lack exposure to the hard sciences and technology disciplines. A third concern in the design of technology management curricula raised herein is the notion of avoiding polar extremes in content coverage, which are emphasizing theoretically rigorous, but highly abstract research or stressing practical content based on ââ¬Å"war storiesâ⬠and conventional wisdom. Placing too much emphasis on practical experience may have negative consequences since the mental models that such pedagogies create can quickly become obsolete, particularly in light of the fast evolving technologies the curricula are supposed to address (Locke Schone, 2004). In ? other words, practice-oriented technology management curricula may inspire students to become more entrepreneurially oriented, but without the concomitant development of critical thinking skills, such as the ability to assess risks and recognize the inevitable downsides of entrepreneurial activity. Technology management curricula that are light on practice, however, can produce students who may find the challenge of boundary spanning, a key skill for successful technology managers, too great to scale. Van Burg, Romme, Gilsing, and Reymenk (2008) have outlined a design science-based model for the development of academic spin-offs that is grounded in both theory and practice. As noted by Barr, Baker, Markham, and Kingon (this issue), new developments in technology management education stress the importance of active involvement (experiential learning) models that are authentic and real. Many technology management curricula mimic those of entrepreneurship, in that they include a ealthy dose of business plan writing, ostensibly as products of courses on commercialization and opportunity search. There is considerable debate over the usefulness of business plans in practice, even though venture capitalists and banks demand them. Indeed, Barr, Baker, Markham, and Kingon (this issue) challenge the effectiveness of teaching the preparation of a business plan. They suggest that it is preferable to deemphasize the writing of a plan because it tends to restrict creativity and the search for m ore appropriate solutions. Yet, as a pedagogical tool, we think that business plans, when used appropriately, can be a useful way to garner a studentââ¬â¢s attention on a comprehensive set of issues that should be considered when commercializing an invention. A shift is taking place from traditional technology management curricula toward more entrepreneurially based courses that require interdisciplinary skills. As part of this development, there is a need for interdisciplinary team-learning activities to be a central part of curriculum development in technology management education. Team composition needs to be addressed carefully to enable participants to gain full benefits. Thursby, Thursby, and Fuller (this issue) present an interesting example of teams of law, business, science, and engineering students converging to commercialize innovations developed at Emory University and the Georgia Institute of Technology. Developments in technology management education also pose major faculty recruitment challenges. Many business school faculty members do teaching, research, and service (including consulting) that is focused on large corporations. Traditional business school academics typically lack the appropriate context-specific business creation skills that are increasingly demanded as central to technology management education (Wright, Piva, Mosey, Lockett, 2008). As noted in Barr, Baker, Markham, and Kingon (this issue), the recruitment of adjunct faculty members should be focused on those who can serve as mentors to students. There is also a need to consider recruitment and training of faculty who can act as boundary spanners. The time-consuming nature of developing interdisciplinary curricula raises a concern about possible conflicts with the promotion-and-tenure process, which also needs to be addressed in recruitment and retention. AGENDY FOR FURTHER RESEARCH ON TECHNOLOGY EDUCATION To build on the findings of this special issue, we identify a number of areas for further research. 2009 Phan, Siegel, and Wright 333 These are summarized in Table 4, where we identify a series of research questions relating to institutional issues, the interaction between education and practice, the advancement of business schools, and evaluation. Universities typically have well-established conventions and practices concerning the management of their activities. The traditional academic culture of the university (the classic ââ¬Å"ivory towerâ⬠) embodies a system of values that opposes the commercialization of research through company creation. When university administration is decentralized, with no mechanism for integration, links between business schools and technologyoriented units of universities may be weak or in- formal. This suggests a need for the development and implementation of clear and well-defined strategies, processes, and policies regarding new venture formation and approaches to technology management education that incorporate entrepreneurial activities. Institutional frictions and their impact upon intraorganization knowledge transfer are wellknown (Szulanski, 1996). These frictions in the interactions between different elements of the university may frustrate the development of interdisciplinary technology management curricula. Transferring personnel across organizational boundaries has been identified as an important mechanism to effect knowledge transfer (Inkpen Tsang, TABLE 4 Research Agenda Institutional Issues How do incentive systems for faculty encourage the time-intensive development of effective technology management courses? What institutional challenges constrain the cross-disciplinary development of technology management education? What are resource implications for universities attempting to develop interdisciplinary technology management education? Interaction Between Education and Practice How can technology management education processes be transferred to promote the creation and development of spin-offs? How can universities develop integration processes among technology management education and technology transfer offices, incubators, and science parks? How can business schools enhance (effective) engagement with leading-edge technological entrepreneurs? Advancement of Business Schools How can the necessary specific skills now required for technology management education be developed within business schools? Do business schools have the requisite career structures for faculty involved in technology management education? (e. g. , adjunct, nontenure track faculty). What is the role of business school faculty in contributing to the development of technology management education? Evaluation Issues How effective are different developments in technology management education? Is it possible to have a valid control group in evaluation of technology management education? From a corporate perspective (since many students are sponsored by companies), how effective are technology management programs? What are the most appropriate methods for evaluating the effectiveness of technology management education? What decision making processes are most effective in promoting interdisciplinary teaching and research, and integration in technology management education (top-down vs. bottom-up)? Does development of technology management education represent a need to reevaluate the whole position of business schools within universities, or is there a need for ambidexterity? What are the roles of different competitors within the segments of the broad technology management space? What challenges arise in addressing ââ¬Å"language barriersâ⬠between business school and technology/ engineering faculty and how can they be overcome? What is the best way to train technology managers who must engage in boundary spanning among industry, the entrepreneurial community, academia, and government? What challenges arise in integrating research with new developments in technology management education? Is it possible to build evaluation into the design of technology management education programs, so we can identify ââ¬Å"best practicesâ⬠and benchmark comparable programs? 34 Academy of Management Learning Education September 2005). Universities may need to consider the facilitation of exchanges of staff between schools or the development of faculty with boundary-spanning skills. Academics may identify more closely with their discipline than with the business school or university and may seek to marginalize ââ¬Å"tribesâ⬠from ââ¬Å"outside disciplinesâ⠬ (Becher Trowler, 2001). This concern is especially salient if the objective is to integrate research with new developments in technology management education. Differences in language and goals between business schools and science- and technology-based departments exacerbate these problems. Business schools may also lack credibility with conventional, ââ¬Å"pureâ⬠scientists, who perceive them as professional schools with little research tradition. This may be a major issue in universities with strong science departments and weak business schools (Wright et al. , 2008). However, even this effect is likely to vary between disciplines, as some departments, for example, engineering and medicine, may be closer in the sense of being professional schools than the pure science departments. It may also be important to focus on the role of technology managers within the university. Siegel, Waldman, and Link (2003) found that the key impediment to effective university technology transfer tended to be organizational in nature. In a subsequent field study (Siegel, Waldman, Atwater, Link, 2004), the authors found there are deficiencies in the technology transfer office and other areas of the university involved in technology commercialization with respect to marketing skills and entrepreneurial experience. This finding has been confirmed with more systematic data by Markman, Phan, Balkin, and Gianodis (2004), who explained this result by reporting that universities were not actively recruiting individuals with such skills and experience. Instead, representative institutions appear to be focusing on expertise in patent law and licensing or technical expertise. To develop effective curricula, the expertise that business school faculty need to interact with science and technology departments may be discipline specific. Yet the background of business school faculty typically makes it difficult for them to convey sufficiently context-specific material for different groups of technologists. To this end, Siegel and Phan (2005) suggest the creation of formal training programs for university personnel on the issue of technology management. Thursby, Thursby, and Fuller (this issue) report that an integrated graduate program on technological entrepreneurship has a positive impact on student perceptions of the multidisciplinary capabil- ties needed to operate in a technologically oriented business environment. Taking a page from Souitaris, Zerbinati, and Al-Laham (2007), who drew on the theory of planned behavior to demonstrate that entrepreneurship programs raised risktaking attitudes and inspired entrepreneurial intention among students, we suggest that technology management curricula can similarly inspire students to think creatively about how they can convert science to commercial ventures by immersing them in the experience of technology and opportunity evaluation early on in the program. Authors of evaluation studies need to find ways of incorporating the measurement of postprogram outcomes, such as new venturing and career trajectories, through more longitudinal studies. More specifically, it would be extremely useful to build evaluation into the design of such programs, so that we can identify ââ¬Å"best practicesâ⬠and benchmark comparable programs as we do for other types of programs. A critical methodological issue in evaluation concerns whether it is possible to have a viable control group for such a study. The papers in this special issue represent a number of different institutional contexts worldwide. A final question one can ask, after reading these papers, is whether there are developments that suggest a convergence in program design towards a universal model, or are we likely to experience a wide variation due to adaptations to the local contexts? Locke and Schone (2004) highlight ? important differences in the interaction between business schools and industry in Europe compared to those in the United States. They suggest that the relations between business school faculty and other scientists have traditionally been stronger in the United States than in the United Kingdom and France. Further, subjects taught in business schools in France, the United Kingdom, and the United States tend to be close to praxis, and professors have usually had practical experience. To contrast, in Germany management education has always been strongly oriented toward science, with academics having little business experience/ contact with industry; this pattern appears to have persisted despite pressure for convergence to an Anglo-Saxon business school model (Muller-Camen Salzgeber, 2005). Mustar (this issue) and Verzat, Byrne, and Fayolle (this issue) illustrate the challenges of introducing entrepreneurial elements to the traditional approach to technology and engineering training in France. Hang, Ang, Wong, and Subramanian (this issue) argue that there was a need to design a program to meet the needs of a small newly developed Asian country. In sum, while the elements of technology man- 2009 Phan, Siegel, and Wright 335 agement curricula appear to be very similar, in part driven by the institutional hegemony of U. S. ased models, there is some indication of local adaptation in pedagogy, delivery mechanisms, and sequencing of content, based on government initiatives, types of corporations that employ the local graduates of such programs, and the capabilities of the universities delivering them. REFERENCES Ambos, T. , Makela, K. , Birkinshaw, J. , Dââ¬â¢Este, P. 2008. When does university research get commercialized? Creating ambidexterity in research institutions . Journal of Management Studies, 45: 1424 ââ¬â1447. Becher, T. , Trowler, P. R. 2001. Academic tribes and territories. Buckingham: The Society for Research into Higher Education and Open University Press. Carlile, R. P. 2002. A pragmatic view of knowledge and boundaries: Boundary objects in new product development. Organization Science, 13: 442ââ¬â 455. Inkpen, A. , Tsang, E. 2005. Social capital, networks and knowledge transfer. Academy of Management Review, 30(1): 146 ââ¬â 165. Koh, W. , Phan, P. In Press. The National Innovation System in Singapore. In V. K. , Narayanan, G. Oââ¬â¢Connor, (Eds. ), Encyclopedia for Technology, Innovation and Management, Blackwell Press: U. K. Locke, R. , Schone, K. 2004. The entrepreneurial shift: Ameri? canization in European high-technology management education. Cambridge: Cambridge University Press. Markman, G. , Phan, P. , Balkin, D. , Gianiodis, P. 2004. Entrepreneurship from the ivory tower: Do incentive systems matter? Journal of Technology Transfer, 29(3ââ¬â 4): 353ââ¬â364. Markman, G. , Siegel, D. , Wright, M. 2008. Research and technology commercialization. Journal of Management Studies, 45: 1401ââ¬â1423. Meyer, M. 2008. University patenting and IP management approaches in Europe. Brighton: SPRU, University of Sussex. Muller-Camen, M. , Salzgeber, S. 2005. Changes in academic work and the chair regime: The case of German business administration academics. Organization Studies, 26(2): 271ââ¬â 290. Mustar, P. , Wright, M. 2009. Convergence or path dependency in policies to foster the creation of university spin-off firms? A comparison of France and the United Kingdom. Journal of Technology Transfer, forthcoming. Nambisan, S. , Willemon, D. 2003. A global study of graduate management of technology programmes. Technovation, 23: 949 ââ¬â962. Pfeffer, J. , Fong, C. T. 2002. The end of business schools? Less success than meets the eye. Academy of Management Learning and Education, 1(1): 78 ââ¬â95. Pfeffer, J. , Fong, C. T. 2004. The business school ââ¬Å"businessâ⬠: Some lessons from the U. S. experience. Journal of Management Studies, 41(8): 1501ââ¬â1520. Phan, P. , Siegel, D. S. , Wright, M. 2005. Science parks and incubators: Observations, synthesis and future research. Journal of Business Venturing, 20(2): 165ââ¬â182. Siegel, D. S. , Phan, P. 2005. Analyzing the effectiveness of university technology transfer: Implications for entrepreneurship education. In G. D. Libecap, (Ed. ), Advances in the study of entrepreneurship, innovation, and economic growth, volume 16: University entrepreneurship and technology transfer: 1ââ¬â38. JAI Press: Oxford, UK. Siegel, D. S. , Waldman, D. , Link, A. N. 2003. Assessing the impact of organizational practices on the productivity of university technology transfer offices: An exploratory study. Research Policy, 32(1): 27ââ¬â 48. Siegel, D. S. , Waldman, D. , Atwater, L. , Link, A. N. 2004. Toward a model of the effective transfer of scientific knowledge from academicians to practitioners: Qualitative evidence from the commercialization of university technologies. Journal of Engineering and Technology Management, 21(1ââ¬â2): 115ââ¬â142. Siegel, D. S. , Wright M. 2007. Intellectual property: The assessment. Oxford Review of Economic Policy, 23(4): 529 ââ¬â540. Souitaris V. , Zerbinati, S. , Al-Laham, A. 2007. Do entrepreneurship programmes raise entrepreneurial intentions of science and engineering students? The effects of learning, inspiration and resources. Journal of Business Venturing, 22(4): 566 ââ¬â591. Starkey, K. , Hatchuel, A. , Tempest, S. 2004. Rethinking the business school. Journal of Management Studies, 41(8): 1521ââ¬â1532. Suddaby, R. , Greenwood, R. 2001. Colonizing knowledge: Commodification as a dynamic of jurisdictional expansion in professional service firms. Human Relations, 54: 933ââ¬â953. Szulanski, G. 1996. Exploring internal stickiness: Impediments to the transfer of best practice within the firm. Strategic Management Journal, 17: 27ââ¬â 43. Van Burg, E. , Romme, G. L. , Gilsing, V. A, Reymenk, I. M. M. J. 2008. Creating university spin-offs: A science-based design perspective. Journal of Product Innovation Management, 25: 114 ââ¬â128. Wright, M. , Piva, E. , Mosey, S. , Lockett, A. 2009. Academic entrepreneurship and the role of business schools. Journal of Technology Transfer. Phillip Phan is professor and vice dean for Faculty and Research at The Johns Hopkins University Carey Business School. Between 2000 and 2007, he was the Warren H. Bruggeman ââ¬â¢46 and Pauline Urban Bruggeman Distinguished Professor of Management at Rensselaer Polytechnic Institute. Phil is associate editor for the Journal of Business Venturing, the Journal of Financial Stability, and the Journal of Technology Transfer. His most recent books are Theoretical Advances in Family Enterprise Research (InfoAge Press); Entrepreneurship and Economic Development in Emerging Regions (Edward Elgar); and Taking Back the Boardroom: Thriving as a Director in the 21st Century (Imperial College Press). Donald Siegel is dean of the School of Business and professor of management at the University at Albany, SUNY. Don is editor of the Journal of Technology Transfer, associate editor of 336 Academy of Management Learning Education Journal of Business Venturing, Journal of Productivity Analysis, and Academy of Management Learning Education. His most recent books are Innovation, Entrepreneurship, and Technological Change (Oxford University Press); and the Handbook of Corporate Social Responsibility (Oxford University Press). He has received grants or fellowships from the Sloan Foundation, National Science Foundation, NBER, American Statistical Association, W. E. Upjohn Institute for Employment Research, and the U. S. Department of Labor. Professor Siegel is a member of the Advisory Committee to the Secretary of Commerce on ââ¬Å"Measuring Innovation in the 21st Century Economy. â⬠Mike Wright has been professor of financial studies at Nottingham University Business School since 1989 and director of the Centre for Management Buy-out Research since 1986. He has written over 25 books and more than 250 papers in academic and professional journals on management buy-outs, venture capital, habitual entrepreneurs, corporate governance, and related topics. He served two terms as an editor of Entrepreneurship Theory and Practice (1994 ââ¬â1999) and is currently a consulting editor of Journal of Management Studies and an associate editor of Strategic Entrepreneurship Journal. Mike is also program chair of the Academy of Management Entrepreneurship Division. His latest books include Academic Entrepreneurship in Europe and Private Equity and Management Buyouts. September How to cite New Developments in Technology Management, Essays
Monday, May 4, 2020
Dominate Cultural Patterns of Switzerland Essay Example For Students
Dominate Cultural Patterns of Switzerland Essay Interpersonal Relations/CommunicationsDominant Cultural Patterns in the United States as Compared and Contrasted to Dominant Cultural Patterns in SwitzerlandSwitzerland is one of the most mountainous countries in Europe. The Alps cover more than half of the country. It is a small country of 15,942 square miles. The country can be geographically divided into 3 areas: the Alps, the Mittleland (plateau), and the Jura mountains. The population of Switzerland is about 7.3 million, with the majority of the population living in the Mittleland area. Switzerland is a melting pot of different ethnic groups-Germans, French, Italians, and Romansch. About 6% of the people who live in Switzerland have come from the Middle East, the former Yugoslavia, Greece, Italy, and other countries. Most of them are guest workers and do not have Swiss citizenship (Culturgram 277). Due to the diversity of cultures, Switzerland has four official languages-German, French, Italian. and Romansch. Romansch is spoken by 1% of the population. Switzerland is one of the worlds oldest democracies. The founding of the Swiss Confederation took place on August 1, 1291. Switzerland became a neutral country in 1815, making it illegal for the Swiss federal government to enter into political alliances or to make war except for in self-defense. The country is divided into 26 states. These states are known as cantons. Political powers are divided between the federal government and the cantons (state) government. The citizens enjoy close control over the laws of the cantons, as well as the federal government. Referendums allow people to demand popular vote. Initiatives give the citizens the right to bring specific issues before the people to vote upon. Now that you have a brief overview of Switzerland, we can successfully compare and contrast this country to the United States. Not just socially, or economically, for the reason behind this paper is to compare and contrast the dominant cultural patterns of the United States (individualism, equality, materialism, science and technology -progress and change, activity and work) to the dominant cultural patterns of Switzerland. When comparing and contrasting the dominant cultural pattern of individualism I find that Switzerland obtains this cultural pattern. We as Americans are strong in our opinions, and are, at times, thought to be arrogant. The Swiss are more thoughtful and create a community of trust and loyalty. Like each state in the United States, the Swiss cantons have their own constitution, legislative, executive, and judiciary branch. Patriotism and loyalty are established by military service. According to the reference book, Culturgram, every physically fit male serves in the Swiss Army. They train on occasion and keep their gun and uniform at home-always ready to form a militia to defend the country(278). When comparing and contrasting equality between the two countries, the citizens of both the United States and Switzerland consider themselves equal. Both countries provide constitutions that guarantee freedoms and liberties for their citizens. Freedom of religion is guaranteed in the first amendant of the constitution in the United States. In 1973, a referendum repealed articles of the constitution of Switzerland that were responsible for banning the Jesuit order and the founding of new religions houses, guaranteeing freedom of worship (Bram 65). When comparing and contrasting the dominant cultural pattern of materialism, I can only infer that the Swiss citizens enjoy creature comforts just as much as the citizens of the United States. The Swiss are known to be conservative and value thrift. The United States is credit orientated. We seem to be evolving around the idea of power, wealth, and greed. We surround ourselves with lavish, extravagant things, and worry about property and status. When comparing and contrasting science and technology, the results are also similar. .ubb2453a08703584387177ffb579f0c93 , .ubb2453a08703584387177ffb579f0c93 .postImageUrl , .ubb2453a08703584387177ffb579f0c93 .centered-text-area { min-height: 80px; position: relative; } .ubb2453a08703584387177ffb579f0c93 , .ubb2453a08703584387177ffb579f0c93:hover , .ubb2453a08703584387177ffb579f0c93:visited , .ubb2453a08703584387177ffb579f0c93:active { border:0!important; } .ubb2453a08703584387177ffb579f0c93 .clearfix:after { content: ""; display: table; clear: both; } .ubb2453a08703584387177ffb579f0c93 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ubb2453a08703584387177ffb579f0c93:active , .ubb2453a08703584387177ffb579f0c93:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ubb2453a08703584387177ffb579f0c93 .centered-text-area { width: 100%; position: relative ; } .ubb2453a08703584387177ffb579f0c93 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ubb2453a08703584387177ffb579f0c93 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ubb2453a08703584387177ffb579f0c93 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ubb2453a08703584387177ffb579f0c93:hover .ctaButton { background-color: #34495E!important; } .ubb2453a08703584387177ffb579f0c93 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ubb2453a08703584387177ffb579f0c93 .ubb2453a08703584387177ffb579f0c93-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ubb2453a08703584387177ffb579f0c93:after { content: ""; display: block; clear: both; } READ: Advantages And Disadvantages Of Globalization EssayThe United States is currently in the age of computers. We take pride in our education, and colleges, and put much faith into the stock market, space, and industry. We as Americans are inventors, clever, and we plan for the future. According to Philip W. Goetz, The chemical-pharmaceutical industry of Switzerland is a prime competitor in world trade. The chemical industry alone spends great sums on research, and many other industries also collaborate with the countrys universities and with the Federal Institute of Technology at Zurich and Lausanne (359). The dominant cultural pattern of activities and work in the United States and Switzerland are also similar. The mountains in Switzerland create a playground for activities such as skiing, bobsledding, camping, hiking, climbing, boating and swimming. We as Americans enjoy many different forms of play. There is a great demand for amusement parks, sporting events, art, music, hobbies, and food. We enjoy spending time with family and friends, indoors as well as outdoors. Switzerland is considered to be an industrial nation, as is the United States. The Swiss are known for their craftsmanship and take pride in their work. Manufacturing includes the production of various precision instruments, watches, machine tools, textiles, and chemicals. In conclusion, I have decided that the United States and Switzerland are similar in many ways. Our social and political systems are similar. Both of these countries are innovative, industrious, prosperous, and value freedom and independence. Works CitedSwitzerland. Culturgram 2000, Ed. Grant P. Skabelund. 2 vols. Brigham Young Universityand eMSTAR, Inc. USA, 1999 Switzerland. Funk Wagnalls New Encyclopedia, Ed. Leon. L Bram. 29 vols. United Statesof America: Rand McNally Company, 1986Switzerland. New Enc
Saturday, March 28, 2020
Change Management at Wal
In todayââ¬â¢s work environment, change is inevitable. To maintain a competitive edge, most organizations are currently undergoing dramatic transformation in terms of their strategies, structures, systems, boundaries, and of course their expectations of their workforce and managers. Thus, every modern organization must be prepared to pace up with the relentless business environment.Advertising We will write a custom essay sample on Change Management at Wal-Mart Stores, Inc. specifically for you for only $16.05 $11/page Learn More The environment is termed as relentless because of its ability to change at an exponential rate. Gabler defines change management as ââ¬Å"the strategy of planned and systematic change, which is achieved by the influence of the organizational structure, corporate culture, and individual behavior, under the greatest possible participation of the employeesâ⬠(as cited in Kneer, 2006, p.5). In order to be effective, change management must be structured in such a way that the various expectations of the employees are shifted from a current condition to an anticipated future condition through empowering them to accept change in their current working environment. This paper discusses how Wal-Mart Stores, Inc., an American multinational corporation, is managing change in its operations. In order for any organization to grow, it has to be ready to undergo important changes in various aspects of its development. However, in efforts of realizing change in organizations, there is usually a conflict between stability and movement. Stability usually makes the process of enacting beneficial changes to the organization to be difficult. It is often caused when the reason for the change is not very well explained to the employees and when the proposed changes are seen as a threat that can alter the established patterns within the working environment (Hiatt Creasey, 2003). On the other hand, movement often creates a desire to realize the proposed changes in an organization. It is often the case when the benefits and rewards of implementing the change is perceived to be realistic and in accordance to the objectives of the organization. Internal forces for change include a fear among the employees when they feel that they lack the necessary competence, a feeling that the changes to be implemented is a threat to the aspirations of the employees, need to increase profitability, and the existence of cultural misfits to organization goals and objectives. On the other hand, the external forces for change in an organization include advances in technology, political factors, general macro-economic environment, adjustments in end-usersââ¬â¢ tastes and preferences, and reduction in market shares due to rivalry in the market. As a multinational corporation, Wal Mart has employees from various backgrounds.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, sometimes this results in stability in enacting changes in the organization due to dissatisfaction among the employees and existence of cultural misfits, which contravenes the companyââ¬â¢s overall goals. In addition, Wal-Mart is constantly threatened to effect changes in its structure due to improvements in technology, changes in the political environment and declining market share due to competition. Skills in change management are an essential ingredient for the success of a manager in an organization. Currently, in every working environment, change is essential and managers need to be competent enough to handle it. At Wal-Mart, managers impact change by taking the following actions. These include, creating awareness and a sense of urgency by communicating information on the need for change on a consistent and timely basis, and engaging the culture through implementing programs such as merger or integration, and level change leadership councils. The companyââ¬â¢s management implements specific actions such as training, job counseling, and redesign of performance system that creates avenues for employee input and involvement. In addition, change is also impacted through obtaining and scrutinizing on workersââ¬â¢ adaptation to change, making on-going appropriate adjustments to the change strategies and tactics, and sustaining the change and the commitment. In order to spearhead the realization of the above changes, the managers at Wal-Mart have a defining role and influence. The three guiding principles that the founder Sam Walton instituted upon establishing the company in 1962, which are ââ¬Å"Respect the Individual,â⬠ââ¬Å"Service Our Customersâ⬠and ââ¬Å"Strive for Excellence,â⬠are still tenets that the companyââ¬â¢s management upholds while managing change in the company (Wal-Mart, n.d.). At Wal-Mart, employees are increasingly becoming important in the companyââ¬â¢s attempts to effect various changes in how it is run. However, they are not endowed with the responsibility of managing change. The workers are only required to do their best so that the proposed changes can be successful. And, this relies on a number of factors, such as skills, experience, level of commitment, and maturity. Thus, the task of ensuring that change is managed is left to the management of Wal-Mart. The management ensures that they manage the change in a manner that ensures that the workers are able to cope with it. Wal-Martââ¬â¢s management are liable for facilitating and enabling change in its 8,500 stores in 15 different countries around the world.Advertising We will write a custom essay sample on Change Management at Wal-Mart Stores, Inc. specifically for you for only $16.05 $11/page Learn More The employees are responsible for responding positively to the proposed changes. Since it has been observed that imposing the changes on the e mployees only make them stay less focused, the management of the retail giant only ensures that they interpret and communicate realistic goals to the employees, which are within the context of its overall objectives (Cowan, 1999). According to Forbes Global 2000 for the year 2010, Wal-Mart, which runs discount department stores and chain of warehouse stores in various places around the world, was ranked the worldââ¬â¢s biggest corporation by revenue. The American public multinational corporation has been able to achieve this because of the commendable interconnectedness of the environment regarding change management issues with its different stakeholders. There are various levels of the change process that are interconnected at Wal-Mart: the macro and the micro level. The responsibilities of the high-level personnel are found on the macro level and they are endowed with the task of leading, exemplifying, and supporting any change initiatives actively. Therefore, after developing a clear vision, the companyââ¬â¢s management then communicates it to the target groups accordingly. In order to prove to the various stakeholders about the importance of the changes, the management also considers various environment influences, such as the need of the consumers. On the micro level, the employees are interconnected in the change process by ensuring that they are adequately involved, they have the ability to assume the new changes, and are capable of identifying with the new situation. At times, even in big organizations, the management finds it hard to implement essential changes in the organizationââ¬â¢s structure. The ââ¬Ëresistance to changeââ¬â¢ scenario normally results when people do not want to embrace change wholeheartedly or may take a long time before accepting the changes (Beerel, 2009). However, at Wal-Mart, appropriate initiatives have been adopted to eliminate the so-called resistance to change by ensuring that the survival anxiety (driving force to change) is greater than the learning anxiety (restraining force to change). In addition, the learning anxiety is usually lowered instead of increasing the survival anxiety. At Wal-Mart, reducing the learning anxiety is achieved by increasing the individuals sense of psychological safety by means of various interventions. These are having a realistic vision for the future, offering formal training, encouraging participative management, getting feedback on the progress of the changes, having positive role models, having support groups, and enacting consistent systems and structures within the organization (Cameron and Green, 2007, p.50).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Individual change at Wal-Mart can be explained in terms of behavioral, cognitive, psychodynamic, and humanistic approaches. In terms of behavioral approach, change is usually effected by the use of programs aimed at changing unpleasant behaviors through spotting intolerable behaviors that can impede change initiatives and replacing them with beneficial types of behavior that are not resistant to change. In terms of cognitive approach, change is usually effected by trying to eliminate thoughts and emotions that can impede the process of enacting change at the organization. This is achieved by giving effective educational material that informs the employees of the importance of embracing change. At times, the company effects change by instituting initiatives that focuses on both the thoughts and eliminating unwanted behaviors. This form of realizing change is called cognitive-behavioral approach. In terms of psychodynamic approach, the objective is to expose the unconscious content of an individualââ¬â¢s psyche so as to lighten psychic tension that may make him or her to refuse to embrace any changes that are to be implemented by the companyââ¬â¢s management. This type of approach depends on the interpersonal relationship between the employee and the manager and it tends to be more eclectic than others are since it uses a variety of techniques. Humanistic approach to individual change at Wal-Mart tends to encourage individuals to understand themselves and grow personally without outside interference. The humanistic approach concentrated on ââ¬Å"conscious thoughts, the present, personal growth, and self-fulfillmentâ⬠(Santrock, 2005, para.4). One of the most essential ways of realizing results in change management is through working in teams. It is important to note that no single individual can be able to see all the aspects of the change process. However, team members are able to see more of those different aspects and suggest the most appropriate way forward. Thus, Wal-Mart has strived to have such teams with certain key attributes. These are the ability to give feedback on the progress of change management in the organization since the teams usually know more about the organizationââ¬â¢s culture, ability to help in developing and reviewing data concerning change management, and ability to sustain the momentum of any change initiative undertaken at the company. These attributes often have an important impact on the teamsââ¬â¢ capacity for effective change since they enable the members to have a range of energy, participation and decision-making ability that are important for achieving the goals and objectives of the company (Paton McCalman, 2007). Since the start of Wal-Mart in 1962, it has realized the dramatic effect of teamwork in managing change in the company. That is why almost every employee within the company is a member of team. In addition, to avoid failed delivery and strategic failure in implementing chang es within the retail company, the members are advised to know their team working strengths and weaknesses so that they can conveniently cooperate with one another. There are different models of organizational change that have been applied to various change initiatives at Wal-Mart. The companyââ¬â¢s management mainly undertakes organizational change through both conceptual and process approach. Conceptual perspective centers on the precursors and the outcomes of change. It focuses on the content and magnitude of strategic efforts that are to be realized. More so, it put more weight on the cognitive means implicated in effecting the intended consequences. Some of the models of change that fall in this category are the three levels of change conceptualized by Golembiewski, Billingsley, and Yeager, and first, second, and third order of change proposed by Bartunek and Moch. Process models of change ââ¬Å"designate the sequence of events necessary to effect organizational change, focu sing more on the essential steps of implementation than on the conceptual tasks requiredâ⬠(Latta, 2009, para. 8). It is of essence to note that all process models find their roots to Lewinââ¬â¢s classic three-stage model of change, ââ¬Å"denoting the essential progression through phases of unfreeze, change, and refreezeâ⬠(Latta, 2009, para. 8). In conclusion, change management at Wal-Mart Stores, Inc. has been successful through the application of the various principles discussed above. The management of the company ensures that only realistic, achievable, and measurable changes are implemented and that all the people affected by the changes are involved in the whole process. Thoughtful planning and insightful implementation are aspects that are strictly adhered to in efforts to manage change at the retail company. References Beerel, A., 2009. Leadership and change management. Thousand Oaks, California: SAGE Publications Inc. Cameron, E. Green, M., 2007. Making sens e of change management a completeà guide to the models, tools techniques of organizsational change. London: Kogan Page. Cowan, S. L., 1999. Change management. Washington: ASTD Press. Hiatt,J. Creasey, T. J., 2003. Change management: the people side of change.à Madison, Wis.: Prosci Learning Center Publications. Kneer, C., 2006. Change Management: Enhance the Ability to Survive. Norderstedt: GRIN Verlag. Latta, G., 2009. A process model of organizational change in cultural contextà ([OC.sup.3] model): the impact of organizational culture on leading. Web. Paton, R. McCalman, J., 2007. Change management: a guide to effectiveà implementation. London: SAGE Publication. Santrock, J. W., 2005. Psychology Updated, 7/e. Web. New York: McGraw-Hill Higher Education. Wal-Mart, n.d. 3 Basic Beliefs Values. [Online] Wal-Mart Stores, Inc. This essay on Change Management at Wal-Mart Stores, Inc. was written and submitted by user Jamar Lester to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Saturday, March 7, 2020
Civil Rights Essays
Civil Rights Essays Civil Rights Essay Civil Rights Essay Name: Lecturer: Course: Date: In % 4/4 you can beam 4 quavers at the beginning or end of the bar. * In ANY time signature use a semibreve rest for a whole bar of silence. * If there are 3 beats in a bar (3/4, 3/2, 9/8, 3/8) use separate beat rests. * If there are 4 beats in a bar (4/4, 4/2, 12/8) you can use a 2 beat rest at the beginning of the bar or the end of the bar but not across the middle. * In 3/8 Join all quavers semiquavers. For dotted crotchet beats only use a crotchet rest at the beginning of the beat (in place of the note, not the dot). Beam or bracket groups of quaver triplets including rests to make crotchet beat. Use nly quaver rests in these triplets. Anacrusis Music with an anacrusis (or up-beat) starts on a weak beat part way through a bar. The first strong beat (down beat) is on beat 1 after the bar line. The last bar wont be a full bar, it will be missing the length of the anacrusis. Phrases and sections of songs can also start on an upbeat or anacrusis, starting and finishing part way through a bar. Key Signatures Writing Scales Melodic Harmonic Minors Read the question carefully and double check treble/bass clef, going up/down, what type of notes to use, key signature/accidentals, double bar line, stems going in the correct direction. Natural minor = uses Just the notes of the key signature. Harmonic minor = key signature + raise the 7th note going up and down. Melodic minor = key signature + raise the 6th 7th going up, (going down make them the same as the key signature, like a natural minor). Arpeggios Broken Chords Check the question carefully. Is it going up/down, what type of notes? Bass/treble, key signature/accidentals. Dont forget with broken chords to check how many notes in each pattern (3 or 4) and to add bar lines if there is a time signature. Work out the letter names of the chord first and write them in the margin, be careful to use only hese notes. nd Inversion Chords Tonic Dominant Triads Finding Mistakes CIRCLE the 5 mistakes before you start trying to write out the correct version. Check: Clef, key signature time signature (in that order). Grouping of notes rests and remove unnecessary ties. Spelling and placement of words. Dynamics go below the staff directly under the note they change on. Articulation marks go above or below the note head (not the stem). Double bar line, repeat marks, stems of notes and any other symbols. Intervals To work out if an interval is Major or Minor look at the lowest note of the pair and hink of its major scale (never use the minor scale! . If the top note is in that scale it is major, if it is a semitone lower than the note in the scale it is minor. Remember 4ths, 5ths octaves are called Perfect, and two of the same note is a unison. Real Tonal Sequences Real Sequences repeat the original tune using the exact intervals (major/minor or tone/semitone) up and down. Tonal Sequences repeat the original tune going up and down the same number of notes (e. g. only using the number of the intervals between the notes but not worrying if it is major/minor tone/semitone). They use the notes of the key without adding ccidentals. Make sure you draw the clef, key signature time signature correctly. Check each letter name, dont Just count up or down! Space your notes correctly, the easiest way to do this is to line up each note bar line directly under the original tune. Writing a Melody to a given Bass Line Make it sound like a tune try to sing it in your head. In any register means you can use low or high notes of these letter names. Make sure you use the notes of each chord and no others. For each bar there are three possible notes, you dont have to use all 3! Avoid intervals of consecutive octaves 5th between the bass your tune. End on the tonic for the whole last bar the note before it a step up or down. Try to move by step over the bar lines from one chord to another. Make a nice shape by using some repeated notes and not using lots of Jumps. Keep within the range of an octave. Writing a Bass Line Keep it really simple!! You are only allowed to use the root of the chord, i. e. its naming note (for C chord use only the note C). Writing 4-Part Chords Work out the root of the chord write this in the bass first. Use the 3 notes of the chord for the other parts in any order you like. Check that it is the root you have used wice and used the other 2 notes once. Keep the tenor part high and dont allow more than an octave between the tenor alto, or the alto soprano parts. Make sure your stems point correctly (soprano tenor up, alto bass down). Dont use leger lines below the bass, these notes are too low to sing. Dont use leger lines above the soprano, these notes are too high to sing. Dont forget the raised 7th in chord V in a minor key. Analysis and Terms Signs Learn the terms signs flash cards for Grades 1, 2 3. Try to imagine how the music would sound, this is what the questions are about.
Wednesday, February 19, 2020
What cluster allocation does, how it does it, why it is useful and how Research Paper
What cluster allocation does, how it does it, why it is useful and how does it differ from the traditional portfolio allocation - Research Paper Example The scheme treats the cluster as the sampling unit and conducts an analysis on the population of clusters. Consequently, the procedure reduces the cost of examination by increasing sampling efficiency. Clusters include geographical area and often the examiner treats various respondents or subjects within a local area as a cluster (Atzeni 40). Furthermore, the examiner increases the total sample size to establish equivalent accuracy in the estimators. The findings of the observation of any of the selected sample may not present an accurate highlight of the whole population, but they are mainly close to the actual behavior of the study subject. How cluster allocation functions The model is a sampling technique utilized when ââ¬Å"naturalâ⬠but uniform groupings are evident in a statistical population. In cluster allocation, the researcher assumes various steps in defining the sample population or constituents instead of selecting all subjects from the whole population. The examin er divides the entire population into various clusters from which he or she selects a random sample of groups (Karuri and Rainer 30). Consequently, the examiner gathers essential information from the random sample of elements in each selected group. One may evaluate every element in the selected groups or may select subsamples of fundamentals from each group. The procedure is motivated by the need of reducing the aggregate cost of the analysis. The scheme demands elements within a group to be heterogeneous while presenting homogeneity between group means. Furthermore, each cluster should be a subunit of the entire population. Clusters should also be mutually restricted and jointly exhaustive. This enhances systematic examination while minimizing sampling errors (Atzeni 37). The analyzer may utilize a single-stage cluster approach or two-stage cluster model in his or her analysis. In the single-stage scheme, one uses all elements from each selected group. However, in the two-stage cl uster model, one conducts random sampling on the elements from each of the selected group. Often, cluster allocation is only applicable when groups are approximately of the same size. In situations where the clusters have varying sizes, the examiner may combine clusters to make them assume relatively similar sizes (Karuri and Rainer 32). Usefulness of cluster allocation Cluster allocation is useful in reducing the amount of funds used in the examinations. The cluster allocation procedure provides the examiner with the opportunity of concentrating resources on the few randomly selected groups instead of evaluating the entire population. This makes the examination procedure less costly, simple and fast. Particularly, the model reduces traveling and listing cost, which are the major finance consuming procedures in sampling. For example, compiling statistics about each household in a city would be challenging, while compiling statistics about various blocks of the city would be easier. In such a situation, the traveling and the listing efforts will be reduced considerably (Karuri and Rainer 53). The procedure is essentially useful in minimizing the potentially large estimation errors in diversification analysis (Geotzmann & Wachter 271). The procedure applies the concept of mean-variance in examining essential elements. The mean-variance model evaluates a set of subjectsââ¬â¢ weights across assets, which establishes the highest probable return for each specific level of investor risk. Developing target groups enhance the accuracy of the procedure because one can conduct a detailed examination. Furthermore, the model provides an effective procedure of evaluating large populations (Geotzmann &
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