Tourism in Thailand :: essays research papers

Tourism in Thailand’s National Parks: The Problems it Brings â€Å"Rainforests are currently being destroyed at a rate of over 200,000 square kilometers a year according to the US National Academy of Sciences† (Wheeler). Some of these rainforests are located in Thailand’s national parks. In Thailand, there are 15 national parks set aside for conservation, though only 80% of these parks remain intact today. These Parks represent approximately 13% of Thailand’s land. The purpose of these parks is for the conservation of the forests and wildlife, educational tours and research studies, as well as recreational adventure (Wheeler). In 1961, The Royal Forest Department (RFD) of Thailand passed the National Park Act. This act stated that activities which endanger any resource within the park boundaries are strictly prohibited. These activities include settlement, land ownership, grazing, the manipulation of waterways, geological deterioration, logging, hunting, and colleting of forest products. These provisions obviously do not a pply to park officials who protect and maintain the park for education, technical research, and facilitate recreational activities† (Pipithvanichtham). One of the main reasons for the Thai government’s plan to expand tourism facilities in the national parks is to bring in foreign money into the economy through tourism to these areas. However, there are concerns that the effects of increasing tourism in these areas will lead to mismanagement, corruption, and environmental destruction. Therefore, the Thai government should not be promoting tourism in Thailand’s national parks. The government claims that problems associated with tourism in national parks can be dealt with by careful planning and with the participation of government agencies. For example, the RFD is making an effort to protect the National Parks. The RFD plans to update their existing park laws and regulations to make them more suitable for the modern times. The RFD and the Kasetsart University conducted a training session for all national park chiefs to provide them a chance to learn about park management policies. The RFD hopes to develop some means of cooperation with other countries, particularly in the fields of expertise which it lacks† (Pipithvanichtham). While the RFD has a plan, it will require money to enact it. Currently, there is not enough money to fund this plan coupled with governmental mismanagement. The parks are not funded well enough, which has caused the amount of upkeep in the parks to decrease. The cost of managing Thailand’s national parks is met using the government’s central budget and park entrance fees.

Mental Retardation

70. 55. 40. 25. These are the four degrees of mental retardation. These numbers represent the severity of mental retardation in an individual. Each degree is categorized under Mild, Moderate, Severe and Profound. Severity Unspecified is also a term used when there is a strong presumption of Mental Retardation but the standards test cannot conclude the severity therefore the person’s intelligence is not sustained by the standard test. In diagnosing mental retardation, there must be three criterion’s met a IQ below 70 and significant limitations in two or more areas of adaptive behaviors.In example, communication, self help, interpersonal skills, self-directions, resources, functional academic skills, work, home living, health and safety (American Psychiatric Association. 2000). A more common symptom for an individual with mental retardation is adaptive functioning. A persons background is also taken into consideration during the test analysis social cultural background, motivation and education. Genetic screening takes place before the child is born. There are a few common tests that can help in diagnosing. Prenatal testing is offered to detect any changes in the fetus.This testing is offered if there is a increase risk’s that the fetus will have a chromosomal or genetic disorder. However, this cannot detect all birth disorders. Diagnostic testing is put into use when there is suspicion of a particular condition based on physical signs and symptoms. Newborn screening is used right after birth to identify any genetic disorders (Undefined. 2013). Among children, the cause is usually unknown for one-third to one-half of cases (Daily, Ardringer, and Holmes. 2000). Mental Retardation is diagnosed before eighteen years of age.A few common causes of Mental Retardation are genetic conditions, problems during pregnancy, and problems at birth, exposure to toxins or diseases, and malnutrition. Genetic conditions can occur when genes are combined or the parents inherit abnormal genes. A fetus not developing properly in the womb can also lead to Mental Retardation. Problems at birth can lead to brain damage when a child is unable to get enough oxygen. Exposure to toxins and diseases such as lead, mercury or contracting whooping cough, measles or meningitis can cause mental disability.Malnutrition has also been a cause of reduced intelligence. Mild Mental Retardation used to be referred to as an educational category or â€Å"educable†. About eighty five percent of individuals with Mental Retardation are diagnosed with Mild Mental Retardation. A typical individual can usually develop social and communication skills during his or her preschool years, zero to five years of age. Though they have minimal impairment in sensorimotor areas they are not often distinguishable from other children until they have reached a later age.During their late teen years they have acquired academic skills equivalent to a sixth grader. Social and v ocational skills for minimal support are achieved during the their adult years. A few individuals may need supervision, assistance or guidance. This is more common during unusual social or economic stress. However, as adults they have proven to be successful in the community under independent or supervised settings. Moderate mental retardation is referred to in the education category as â€Å"trainable.† This term is generally not used nor should be used since it implies that people with Moderate Mental Retardation do not benefit from an education program (American Psychiatric Association. 2000). Out of the entire population of people diagnosed with Mental Retardation, only ten percent are constituted as Moderate. People diagnosed with Moderate Mental Retardation acquire communication skills early in childhood and often benefit from vocational training or moderate supervision. Individuals with Moderate Mental Retardation are able to attend to their personal care and have the capability to travel independently in familiar places.Training in social and occupational is beneficial, however persons diagnosed are unlikely to progress beyond the second grade level in academic subjects. During the adolescent years social conventions can interfere with peer relationships. In adult years, the individual is able to perform skilled or semi skilled tasks under minimal supervision in the general workforce. Persons with Moderate Mental Retardation adapt well to life in the community usually under supervision (American Psychiatric Association. 2000).Severe Mental Retardation occurs in three to four percent of the population. The individual may learn little to no communication but can be trained to adapt to elementary skills. An extension in pre academic subjects is highly profited. This can lead to familiarizing themselves with the alphabet, survival words and simple counting tasks. A person is capable of adapting well to life in the community unless another handicap i s associated. One percent to two percent is diagnosed with Profound Mental Retardation.A child who displays a considerable impairment in sensorimotor functioning is diagnosed with Profound Mental Retardation, however most are identified through neurological conditions accounting for Mental Retardation. High development can occur in a very structured environment of supervision and reoccurring aid. An individualized relationship between the caregiver and diagnosed individual is best suited. Clinically, Mental Retardation is only a subtype of intellectual deficit; a broader concept and includes intellectual deficits but are too mild to accurately pin point and qualify as Mental Retardation.In contrast, this can also be too specific (as in Specific Learning Disability) or something acquired later in life through acquired brain injuries or neurodegenerative disease like dementia. Intellectual deficits can appear at any age unlike Mental Retardation, which is primarily diagnosed before th e age of eighteen. However, Developmental Disability is a disability due to problems with growth and development (Lawyer. 2010). The term Development Disability encompasses various congenital medical conditions that are not related to mental or intellectual components, though it is at times used as a euphemism for Mental Retardation.

Fudged Accounting Theory

Fudged Accounting Theory and Corporate Leverage Audra Ong and Roger Hussey Abstract This paper is a follow-up of the article ‘Fudged Accounting Theory: Evidence from the UK’ in the Journal of Management Research (Ong, 2003). In that article, an analysis of the flexibility within the UK regulations, which allowed companies to use different accounting treatments for intangible assets, was illustrated to support fudged accounting theory (Murphy, 1990).This paper extends that earlier work by examining the association between corporate leverage and accounting choice in the UK at a period when the extant accounting standard for goodwill, SSAP22 Accounting for Goodwill (ASC, 1989), permitted two very different accounting treatments. As a result, other intangibles, particularly brands, could avoid the regulatory strictures. For the present study, a series of hypotheses relating to corporate leverage and capitalization of intangible assets were tested.The results of the present s tudy support fudged accounting theory by providing evidence that there is a relationship between the widespread capitalization of goodwill/brands and the relationship with leverage. The results demonstrate that financial managers will tend to adopt accounting practices that result in stronger balance sheets. Keywords: Leverage, Fudged Accounting, Intangible Assets, Brands/Goodwill, Food/Drink/Media Industries, International AccountingIntroduction The importance of Fudged Accounting Theory in understanding the accounting treatment of intangible assets has been discussed in an earlier paper by Ong (2003) in the Journal of Management Research. The purpose of the present paper is to investigate whether there is statistical evidence that companies capitalize intangible assets for the betterment of their balance sheets in a period of lax accounting regulations or ambiguity in regulations. This has been identified as fudged accounting theory (Murphy, 1990; Tollington, 1999).Audra Ong Roger Hussey University of Windsor, Odette Business School, 401 Sunset Avenue, Windsor, Ontario, N9B 3P4 Canada In this study, the UK was chosen because accounting for goodwill was regulated under SSAP 22 Accounting for Goodwill issued by the Accounting Standards Committee (ASC) in 1984, which was later revised in 1989. This standard allowed contradictory treatments: companies could either write goodwill directly against reserves in the balance sheet thus bypassing the profit and loss account; or capitalize it as an asset on the balance sheet subject to amortization.To add to the confusion, the standard did not apply to other intangible assets and some companies chose to distinguish brands from goodwill and treat them as permanent items on the balance sheet with no amortization (Barwise et al. , 1989; Paterson, 2003). This presented a stronger balance sheet with no impact on the income statement. To conduct the study, the annual reports and accounts for the five-year period 1993-97 for 1 43 companies listed on the London Stock Exchange were analyzed. Using the earlier work of Archer et al. (1995), a series of hypotheses were established and tested.As the sample is relatively small and is non-parametric in nature, the chi-squared test using Yates’ correction was employed to test the hypotheses. After a brief review of the literature, the research design of this study is explained. The main part of the paper, falling under the heading of Results and Discussion, is concerned with testing a number of hypotheses. Previous Research Consideration of intangible assets has been dominated by uncertainty over the appropriate accounting treatment of goodwill (Egginton, 1990). In the UK, the somewhat acrimonious debate is fuelled by strong opinions rather than facts.The depth and range of opinions has been well documented in the academic literature (Damant, 1990; Napier & Power, 1992; McCarthy & Schneider, 1995; Hussey & Ong, 1997, Ong; 2001; Oldroyd, 1998; Joachim Hoegh- Krohn & Knivsfla, 2000; Cravens & Guilding, 2001) as well as in professional reports (Coopers & Lybrand, 1990; Tonkin & Robertson, 1991; Hussey, 1994). The publication of SSAP 22 did little to calm the debate. Under that standard, companies faced the unpalatable alternatives of writing off goodwill against reserves and weakening their balance sheets or amortizing against earnings.Consequently, intangible assets such as brands and publication titles began to appear on the balance sheets of a number of well-known companies. Identification of such items as intangible assets, separate from goodwill meant that they did not fall under the requirements of SSAP 22. The intangible assets could remain on the balance sheet indefinitely, unless there was a permanent impairment in value. This contention that the appearance of brand valuations on the balance sheet had been motivated by the desire to correct or improve the balance sheet has been evident in several studies.Emanating mainly from the debt covenant approach and the early work of Zmijewski and Hagerman (1981), studies have found support for the debt covenant hypothesis (Mather and Peasnell, 1991) and evidence that a company’s decision to Volume 4, Number 3 †¢ December 2004 capitalize brands was influenced by London Stock Exchange rules on acquisitions and disposals (Muller, 1999). There has been some debate on the importance of intangible assets in private debt contracts (Citron, 1992; Day and Taylor, 1995).The study which most closely relates to the present research and shares the same theoretical foundation was published by Archer et al (1995) and was based on work conducted on 71 annual reports of UK and French companies for the period 1988-92. This earlier research concluded that a group with high leverage is more likely to capitalize goodwill and/or brands than a group with low leverage. The results, however, were stronger where goodwill and brands were amalgamated although it is possible that th e differing regulations in the two countries may have distorted the data.Research Design The annual reports and accounts for the five-year period 1993-97 of 143 companies in the food, drink and media industries were obtained. Such period of time is chosen as the debate on the most appropriate accounting treatment for goodwill and intangible assets was at its greatest and accounting practices were the most varied during this period. It also immediately preceded the changes to accounting introduced by FRS 10 Goodwill and Intangible Assets issued by the ASC’s successor, the Accounting Standards Board (ASB, 1997) and FRS 11 Impairment of Fixed Assets and Goodwill (ASB, 1998).Industries for the study have been chosen whose products are highly branded and also where companies in the industries have been strong in acquisitive activities. The company profiles and published financial information of these 143 companies were checked to see which companies capitalized intangible assets f or the entire five-year period 1993-97. The relevant population, which capitalizes intangible assets, is 15 food and drink companies and 28 media companies, resulting in a total of 43 companies.It should be noted that the remaining 100 companies either did not capitalize intangible assets in any one year, or only capitalized intangible 157 assets for part of the five-year period post -1993. Care has been taken above in explaining the sample used in this study because of its relatively small size. Although this may be regarded as a limitation of the subsequent analysis, a non-parametric test is used in the analysis of individual industries and this is generally regarded as defensible and acceptable in such circumstances.Yates’ correction has also been applied to the chi-square tests to achieve conservatism in establishing significance so that the results can be regarded as conservative and less likely to overstate the importance of the findings. Correlation tests are only cond ucted on the aggregate sample of both industries. The leverage ratio was defined as debt expressed as a percentage of capital employed (Reid and Middleton, 1988) because this definition was used in previous studies and it provides a high degree of precision.Results and Discussion Leverage and Capitalization The following two hypotheses were established in respect of the possible association between leverage and brands: H1: A company with high leverage is no more likely to capitalize intangible assets than a company with low leverage. H2: A company with high leverage is no more likely to capitalize goodwill/brands than a company with low leverage. To test these hypotheses the median leverage was established for the aggregation of companies capitalizing intangible assets, and for those companies not capitalizing the same.In some instances the median leverage did not provide a division of the sample to provide a sufficient number in each cell. In those instances a cut-off leverage leve l was selected to ensure cells of sufficient size and this is explained where it occurs. Contingency tables were constructed for the chisquared test and the results are described below. In all instances, Yates’ correction was applied. Media Industry Hypotheses 1 and 2 were tested separately on the Media industry and on the Food and Drink Industry. The results for the media industry for all intangible assets are shown in Table 1.In this test, the median leverage for the media industry was 28%. The chi-square test was significant at the 0. 01 level with a chi-square factor of 6. 86447 and 1 degree of freedom. The null hypothesis can therefore be rejected and we can accept that high-leveraged companies are more likely to place intangible assets on the balance sheet than low-leveraged companies in the media industry. Table 2 carries out the same test for the same industry but analyzes only those companies capitalizing goodwill and/or brands. In this instance the median leverage w as 31% and this was increased to 32% to ensure cells of adequate size.The chi-square test was significant at the 0. 01 level with a chi-square factor of 7. 286 and 1 degree of freedom. The null hypothesis can therefore be rejected and we can accept that high-leveraged companies are more likely to place goodwill/ brands on the balance sheet than low-leveraged companies in the media industry. Table 1: Contingency Table for Media Industry Showing Leverage and Capitalization of all Intangible Assets Capitalizing Leverage < 28% Leverage ? 28% Observed Expected Observed Expected 914. 26 1913. 74 Not capitalizing 1812. 74 712. 6 Total 27 26 158 Journal of Management Research Table 2: Contingency Table for Media Industry Showing Leverage and Capitalization of Goodwill and/or Brands Capitalizing Leverage < 32% Leverage ? 32% Observed Expected Observed Expected 59. 93 149. 07 Not capitalizing 1813. 07 711. 93 Total 23 21 Table 3: Contingency Table for Food and Drink Industry Showing Leverage and Capitalization of all Intangible Assets Capitalizing Leverage < 26% Leverage ? 26% Observed Expected Observed Expected 510. 74 104. 26 Not capitalizing 4842. 26 1116. 74 Total 53 21Table 4: Contingency Table for Food and Drink Industry Showing Leverage and Capitalization of Goodwill and/or Brands Capitalizing Leverage < 18% Leverage ? 18% Observed Expected Observed Expected 59. 80 72. 20 Not capitalizing 5348. 20 610. 80 Total 58 13 Food and Drink Industry The next two tables are concerned with the Food and Drink Industry. The median value for leverage was calculated at 18% for all intangible assets and in the following table an arbitrary cut-off point of 26% has been selected to ensure cells of adequate size and Table 3 shows the result for those companies capitalizing all intangible assets.The chi-square test was significant at the 0. 01 level with a chi-square factor of 11. 292 and 1 degree of freedom. The null hypothesis can therefore be rejected and we can accept that highl y leveraged companies are more likely to place intangible assets on the balance sheet than low-leveraged companies in the food and drink industry. Table 4 shows the results for those companies capitalizing goodwill and/or brands in the food and drink industry. In this instance the median leverage level of 18% was accepted for the calculations. Volume 4, Number 3 †¢ December 2004 The chi-square test was significant at the 0. 1 level with a chi-square factor of 7. 604 and 1 degree of freedom. The null hypothesis can therefore be rejected and we can accept that highly leveraged companies are more likely to place goodwill/ brands on the balance sheet than low-leveraged companies in the food and drink industries. Capitalization as a Function of the Level of Leverage Two further hypotheses had been established based on the premise explored by Archer et al. (1995) that the value of intangible assets was a function of leverage, in other words the higher the leverage ratio the higher th e value of intangible assets.H3: The value of intangible assets will be associated with the level of leverage. H4: The value of goodwill and/or brands will be associated with the level of leverage. 159 These hypotheses have been tested in previous research with somewhat contradictory results. It was considered that this study with its larger sample and separate focus on two industrial sectors might provide more conclusive results. Additionally, it was decided to extend the variables. Earlier studies have concentrated only on the absolute value of intangible assets i. e. the absolute amount appearing in the balance sheet. For the resent study a new variable of relative value was introduced and to test these hypotheses two aspects of the value of intangible assets were considered i. e. : a) its absolute value, i. e. the amount capitalized in the balance sheet (INTASS); b) its relative value, calculated by expressing intangible assets as a percentage of total fixed assets (INTFIX). Bot h Industries Table 5 shows the correlation based on our 43 companies, which capitalize all intangible assets: Table 5: Leverage as a Function of All Intangible Assets (Both industries) Gear Gear 1. 0000 (43) P=. .0179 (43) P= . 909 . 3229 (43) P= . 035 Intass . 0179 (43) P= . 09 1. 0000 (43) P= . .1876 (43) P= . 228 Intfix . 3229 (43) = . 035 . 1876 (43) P= . 228 1. 0000 (43) P= . appears to have stronger explanatory power. It is therefore possible to state that a relationship does exist between the level of leverage and the relative value of intangibles. In addition to looking at the sample of companies capitalizing all intangible assets, the same analysis has been conducted on the sample of 31 companies capitalizing only goodwill and/or brands. The results are shown below in Table 6. Table 6: Leverage as a Function of Goodwill / Brands (Both Industries) Gear Gear 1. 0000 (31) P= . -. 0176 (31) P= . 24 . 3275 (31) P= . 067 Intass -. 0176 (31) P= . 924 1. 0000 (31) P= . .1573 (31) P = . 390 Intfix . 3275 (31) P= . 067 . 1573 (31) P= . 390 1. 0000 (31) P= . Intass Intfix Intass Once again, Table 6 does not demonstrate a significant relationship between leverage and the absolute value of goodwill/brands. However, the association between leverage and the relative value of intangible assets is significant at 6. 7% level. It is therefore possible to state that a relationship does exist between the level of leverage and the relative value of goodwill/brands although it is less strong than that with all intangible assets.The above testing of the four hypotheses provides evidence that there is a relationship between leverage and the capitalization of intangible assets and there are differences between the two industries used in this study. The present research has also extended previous work of Archer et al b y introducing a new variable INTFIX and demonstrating that capitalization of intangible assets is a function of the relative value of intangible assets to fixed a ssets. The evidence from this study therefore provides support for the fudged accounting theory. IntfixTable 5 does not demonstrate a significant relationship between leverage and the absolute value of intangible assets. However, the association between leverage and the relative value of intangibles is significant at 3. 5% level. This would suggest that the measure of relative value 160 Journal of Management Research Implications: The International Dimension Given the debate on the appropriate accounting treatment of intangible assets and the obvious deficiencies of the provisions of SSAP 22, it is not surprising that the national accounting standard body in the UK was compelled to introduce a substantial regulatory change.FRS 10 and FRS 11 have replaced SSAP 22. Essentially, FRS 10 requires goodwill and intangible assets to be recognized and capitalized over 20 years. This presumption can be rebutted, however, and a longer life or an indefinite life can be selected. In these circum stances, an annual impairment review must be conducted as specified under FRS 11. At the international level, goodwill and intangible assets were first addressed by IAS 22 Business Combinations and IAS 38 Intangible Assets by the International Accounting Standards Board (IASB) respectively. IAS 22 was issued in 1993 and revised in 1998.IAS 38 was issued for the first time in 1998. In March 2004, however, the IASB published IFRS 3 Business Combinations (which supersedes IAS 22) together with related amendments to IAS 36 and IAS 38 as part of Phase 1 of the IASB’s project on Business Combinations. IFRS 3 contains some significant differences compared to FRS 10 (Simmonds and SleighJohnson, 2003) as the former proposes that goodwill will only be subject to impairment testing and must not be amortized. In addition, goodwill and other identified intangibles, which are similar in nature, will be subject to different accounting treatments.This reduces comparability and reliability an d creates a serious risk of accounting arbitrage or fudged accounting. The current IASB proposals in IFRS 3 represent only Phase 1 and, thus, the ASB will consider replacing UK standards only when both Phases 1 and II are complete. Therefore, UK companies should not have to change to the IFRS 3 based on Phase 1. Although IFRS 3 differs from FRS 10, the former achieves a high degree of convergence with FAS 141 Business Combinations (FASB, 2001) and FAS 142 Goodwill and Other Intangible Assets (FASB, 2001) in the US.With respect to managers, the introduction of IFRS 3 is expected to have important implications for brand managers and owners as well as the way trademarks are valued and accounted for (Haigh and Rocha, 2004). In particular, the separate recognition of trademarks and other acquired intangibles, together with annual impairment tests, will require companies to establish robust valuation methodologies for intangible assets in order to withstand increased scrutiny in the marke t.Conclusion This study compares practices in accounting for intangible assets in two industries known for their propensity to capitalize those assets in their balance sheets. The study covered the period from 199397 when the debate and uncertainty on appropriate accounting treatment was at its height. The annual reports of 143 UK companies were selected to investigate whether there was an association between leverage and capitalization of intangible assets. The results demonstrate that companies with high leverage in both industries are more likely to capitalize intangible assets, particularly goodwill and brands.A relationship between capitalizations of intangible assets as a function of leverage when the absolute value of intangible assets is used was not established. However, the present study added to our knowledge by demonstrating that the use of the relative value of intangible assets to fixed assets as a variable reveals that capitalization is a function of leverage. The fin dings from this study both confirm and extend the earlier research by Archer et al. It demonstrates that the topic of capitalization of intangible assets remains a fruitful area for the accounting researcher.The present study establishes that there are industry differences and one can speculate that these may be due to a number of factors such as acquisition activity within the industry, marketing strategy in relation to brands and financial structures and motivations. An extension of the work using the variable Volume 4, Number 3 †¢ December 2004 161 INTASS could lead to illumination of the underlying reasons. A study of present practices in the same industries may reveal what changes, if any, have occurred References following the adoption of FRS 10 and FRS 11.For future research, it would also be interesting to see the effects of IFRS 3 and the applicability of fudged accounting. Accounting Standards Board (1997), FRS 10 Goodwill and Intangible Assets, London. Accounting Sta ndards Board (1998), FRS 11 Impairment of Fixed Assets and Goodwill, London. Accounting Standards Committee (1989), SSAP 22 Accounting for Goodwill, London. Archer, S. , Alexander, D. , Collins L. , and Pham, D. (1995), The Treatment of Goodwill and Other Intangibles: Theory, Standards and Practice in France and the UK, Institute of Chartered Accountants England and Wales (ICAEW,) London. Barwise, P. Higson, C. , Likierman, A. and Marsh, P. (1989), Accounting for Brands, ICAEW/London Business School. Citron, D. (1992), Accounting Measurement Rules in UK Bank Loan Contracts, Accounting and Business Research 23(89): 21-30. Coopers and Lybrand (1990), Intangible Assets: A Survey of Businessmen’s Views, London. Cravens, K. and Guilding, C. (2001), Brand Value Accounting: An International Comparison of Perceived Managerial Implications, Journal of International Accounting, Auditing and Taxation 10: 197-221. Damant, D. (1990), Brands, the Balance Sheet and Company Value, Accountanc y, October: 29. Day, J. and Taylor, P. 1995), Evidence on Practices of UK Bankers in Contracting for Medium-Term Debt, Journal of International Banking Law 10 (9): 394-401. Egginton, D. (1990), Towards Some Principles for Intangible Asset Accounting, Accounting and Business Research 20 (79): 193-205. Financial Accounting Standards Board (2001) FAS 141 Business Combinations, Connecticut. Financial Accounting Standards Board (2001) FAS 142 Goodwill and Other Intangible Assets, Connecticut. Haigh, D and Rocha, M. (2004), The Standards Have Landed, Managing Intellectual Property, June 1: 1. Hussey, R. , Undervalued Intangibles (London: Touche Ross, 1994) Hussey, R. nd Ong, A. (1997), Food, Drinks and the Media: Accounting for Goodwill and Intangible Assets, The Journal of Brand Management 4 (4): 239-247. International Accounting Standards Board (2003) IFRS 3 Business Combinations, London. International Accounting Standards Committee (1998), IAS 22 Business Combinations, London. Internat ional Accounting Standards Committee (1998), IAS 38 Intangible Assets, London. Joachim Hoegh-Krohn, N. and Knivsfla, K. (2000), Accounting for Intangible Assets in Scandinavia, the UK, the US and by the IASC: Challenges and a Solution, The International Journal of Accounting 23: 243-265.Mather, P. and Peasnell, K. (1991), An Examination of the Economic Consequences Surrounding Decisions to Capitalize Brands, British Journal of Management 2: 151-164. Muller, K. (1999), An Examination of the Voluntary Recognition of Acquired Brand names in the United Kingdom, Journal of Accounting and Economics 26: 179-191. Murphy, J. (1990), Brand Valuation – Not Just An Accounting Issue, ADMAP (April): 36-41. Napier, C. and Power, M. (1992), Professional Research, Lobbying and Intangibles: A Review Essay, Accounting & Business Research 23(89): 85-95. Oldroyd, D. 1998), Formulating an accounting standard for brands in the ‘market for excuses’, The Journal of Brand Management 5(4): 263-271. 162 Journal of Management Research Ong, A. (2001), Changes in Brand Accounting for UK Companies, Journal of Brand Management 9(2): 116-126. Ong, A. (2003), Fudged Accounting Theory: Evidence from the UK, Journal of Management Research 3(1), April: 23-30 Paterson, R. (2003), Hidden Strengths, Accountancy, June: 98-99. Reid, W. and Myddelton, D. R. (1998), The Meaning of Company Accounts, Gower Publishing, Aldershot, UK. Simmonds, A. and Sleigh-Johnson, N. 2003), Fundamentally impaired, Accountancy, June: 100-101. Tollington, T. (1999), The Brand Accounting Sideshow, The Journal of Product and Brand Management 8(3): 204-218. Tonkin, D. & Robertson, B. (1991), Brands & Other Intangible Fixed Asset in Financial Reporting 1990-91, ICAEW, London: p. 328. Zmijewski, M. and Hagerman, R. (1981), An Income Strategy Approach to the Positive Theory of Accounting Standard Setting/ Choice, Journal of Accounting and Economics 3: 129-149. Volume 4, Number 3 †¢ December 2004 163 Repro duced with permission of the copyright owner. Further reproduction prohibited without permission.

Marketing theory and concepts Essay

Every business wither it’s small or big, aim to meet the needs of their actual and potential customers. In order for them to do this, they need to follow some sort of theory and concept. This assignment will be looking at the marketing theory and marketing concepts which are portrayed in the traditional marketing literature, and how they have limited application in guiding small business marketing practice. Marketing plays a vital role not only in developing, producing, and selling products or services, but also in guiding recruiting labors and raising capital. Although it can be said that successful entrepreneurs undertake marketing in unusual ways. They mainly rely on interactive marketing methods, which is often communicated through word-of-mouth rather than a more traditional marketing mix. Entrepreneurs monitor the marketplace through informal networks rather than formalised market research, and generally adopt more entrepreneurial approaches to marketing activities. However, depending on the business model, a complex and formalised initial market research can be crucial for a successful market entry. There are many marketing theories that are used in traditional marketing literature such as Schumpeter (1934) who said that entrepreneurs proactively ‘created’ opportunity, using ‘innovative combinations’ which often included ‘creative destruction’ of passive or lethargic economic markets. According to Schumpeter the role of an entrepreneur is to innovate, and by doing this, you move the economy from one equilibrium to another. This kind of innovation could come about from one or more introduction of a new product; a new method of production; the development of a new market; the use of new sources of raw material, and the reorganisation of a new industry or its processes. He also distinguished between the entrepreneur and the capitalist. Schumpeter agreed with the fact, that in practice an innovator could also actually be a capitalist. Another well-known theorist next to Schumpeter is Kirzner (1973) who said that entrepreneurs should have a sense of ‘alertness’ to identify the opportunities in the market and exploit them accordingly . He states ‘The  pure entrepreneur, on the other hand, proceeds by his alertness to discover and exploit situations in which he is able to sell for high prices that which he can buy for low prices. Pure entrepreneur profit is the difference between the two sets of prices. The discovery of a profit opportunity means the discovery of something obtainable for nothing at all. No investment at all is required; the free ten-dollar bill is discovered to be already within one is grasps’ (Kirzner, 1973, 48). The marketing concept has changed significantly over time. In today’s business world the customer is at the forefront, not all businesses in the past followed this concept, as they placed other factors first rather than their customers this is shown as follows:Production Oriented was the focus of the actual business and not the customer needs, as where this has now changed and we can see that it is more focused on customer needs. Production Orientation is when the company believe that they have a superior product, based on quality and features. Due to this thinking the company assume the customers will like it to. In today’s market the customers decide as to what product they like. Sales Orientation is the focus where the company makes a product or provides a service, and then sells or offers it to the target market. This causes problems, as consumers may not like what is being offered to them, which is why companies are making sure that they test their services out, to a small group of the target audience. Market Orientation concept has not actually changed over time, it puts the customers first, as the companies try to understand the needs of the customers by using appropriate research methods. These methods are then developed to make sure information from customers, are fed back to the company for them to see what the target audience are interested in . SMEs who may adapt the marketing concept or 4Ps do so fully rather than explicitly (Carson and Gilmore, 2000). Jaworski and Kohli, (1990) also commented on the limitations of the marketing concept (p15). Therefore, the  SME approach is characterized by networking with stakeholder’s awareness to customer needs (Gilmore, Carson and Grant, 2001; &Hill and Wright, 2001). Which is characterized by the size of these firms and their closeness to customers, (Gilmore, Carson, O’Donnell and Cummins, 1999) as well as inexpensive forms of marketing such as word of mouth (Gilmore 1999). It is vital for SMEs to set the 4Ps, target a market and position themselves, but how this is done and planned is an important issue as it helps guiding a small business to success. Differences between traditional market literature and variants produced during the 1960’s were mainly attributable to the addition of concepts popularized during that decade. For example, Cundiff and Still covered an analysis of the 4 P’s of marketing with the concept that marketing is a subsystem of business. (Cundiff, E.W., Still, R.R. 1976)The basic principles of marketing are generally applicable to large and small businesses. Marketing in SMEs has been recognized as a problematic area for researchers for over 20 years (Chaston and Mangles, 2002; Siu and Kirby, 1998). SME marketing in practice is considered to be mainly done though networking (Gilmore 2001) or a combination of transaction, relationship, interaction and network marketing (Brodie 1997). Recently the use of Internet marketing (Chaffey 2000) or e-commerce (Rayport and Jaworski, 2001) has become popular in all types of businesses including SMEs. Marketing in practice in small firms seem to rely mainly on personal contact networks (Hill and Wright, 2001; Gilmore 2001; Brodie 1997) and is often driven by the particular way a manager does business. According to Gilmore (2001) marketing in SMEs is likely to be chaotic, informal, loose, unstructured, spontaneous, and reactive and conform to industry norms. Gilmore (2001) showed that as a result of networking there was a high level of communication between the SME manager and their competitors then what is usually reported in the marketing literature as well as competing firms may be quite supportive of each other. Similarly, networking with customers usually involves building a relationship with one or two key individuals in those companies. If these individuals were to leave then the relationship the company would break (Gilmore 2001). SME owners must recognize that  building relationships are vital to a company’s success and they invest a considerable amount of time and effort in maintaining good relations with regular clients (Gilmore 2001). The foundation and existence of an effective networking is concerned with maximizing marketing opportunities and ensuring the enterprise’s survival and development (Gilmore 2001). Something, which is more important, in today’s world, is having a foot in the business market, which is constantly changing to meet customer needs. The tables have been turned on the fortunes of many long-established firms. It’s believed that a majority of firms that are in trouble, and those that have failed recently, have done so because they have been let down by their own marketing. Traditional marketing is now being turned. The ideas of marketing and branding strategy that passed for conventional wisdom before do not hold true today. A small but growing number of innovative firms have adopted completely new and differentiate approaches in marketing, reflecting a clear and unmistakable change in the global culture. In this era of globalisation and the Internet the consumer is behaving in a radically different way and is no longer vulnerable to the overworked ploys of marketing. The present times call for a new competition one that strays from the prescriptions that traditional marketing theory holds, that sometimes works in a way that it is counter to it and that lays focus on network-building and â€Å"pulling the customer† above all else. Many experienced hands in corporate boardrooms are oblivious to these shifting sands and evolving trends, and are paying the price as a result. In general the basic principles and concepts of marketing are as relevant to SMEs as it is to larger firms, but some theories, tools and techniques of marketing are not as relevant or useful to SMEs. The nature of SME marketing is the concept, which is mainly dominated by the inherent characteristics of the entrepreneur and the SME itself. Although not all small business may take the marketing theories and concepts in to consideration, while carrying out some sort of market research they will have come a across them. They may have limited application in today’s marketing world but they do provide the basis for which a business can start their research on which helps guiding them in to the marketing practice. Therefore marketing theories and Concepts  portrayed in the traditional marketing literature has limited application in guiding small business marketing practice although they give the business a rough base to start their market practice. Competition and Entrepreneurship, The University of Chicago Press, Chicago and LondonCarson, D. and A. Gilmore, (2000), â€Å"Marketing at the Interface: Not ‘What’ But ‘How'†, Journal of Marketing Theory and Practice, Vol. 8Kohli, A. K. and B. J. Jaworski, (1990), â€Å"The Construct, Research Propositions, and Managerial Implications†, Journal of Marketing,(Gilmore, Carson and Grant, 2001; &Hill and Wright, 2001). Gilmore, A., D. Carson and K. Grant (2001), â€Å"SME Marketing in Practice†, MarketingIntelligence and Planning, Vol. 19(Gilmore, Carson, O’Donnell and Cummins, 1999) â€Å"Added value: A QualitativeAssessment of SME Marketing†, Irish Marketing Review(Cundiff, E.W., Still, R.R. 1976), Fundamentals of Modern Marketing, 2nd ed.)Chaston, I and Mangles, T. (2002) â€Å"Small Business Marketing Management.†Siu, W. and Kirby, D.A. (1998) â€Å"Approaches to small firm marketing: A Critique.† European Journal o f Marketing, vol. 32, no. Brodie, R.J., Coviello, N.E., Brookes, R.W. and Little, V. (1997) â€Å"Towards a Paradigm Shiftin Marketing? An Examination of Current Marketing Practices.† Journal of Marketing Management,Chaffey, D., Mayer, R., Johnston, K. and Ellis-Chadwick, F. (2000) â€Å"Internet Marketing.† Prentice Hall, Harlow, EnglandRayport, J. F. and Jaworski, B. J. (2001) â€Å"e-Commerce.† McGraw-Hill, Boston, USA. Hill, J. and Wright, L. T. (2001) â€Å"A Qualitative Research Agenda for Small to Medium-sized Enterprises.† Marketing Intelligence and Planning,http://www.druid.dk/uploads/tx_picturedb/ds1998-9.pdfhttps://www.mises.org/journals/scholar/wood.pdfhttp://knight.fcu.edu.tw/~gunning/subjecti/workpape/kirz_ent.pdfBooksHandbook of Entrepreneurship Research and Interdisciplinary Survey and Introduction By: Zoltan J Acs, David B

Job Analysis Paper Essay

Job analyses are a way to create detailed job descriptions used by businesses to promote efficiency and best match potential between the employer and employee; but there are many other reasons to complete a job analysis. According to Ash and Levine (1980) there are 11 common uses for job analysis: career development; performance appraisal; legal issues; recruitment and selection of employees; training; setting salaries; efficiency/safety; job classification; job description; job design; and planning (Spector, 2008) There are many ways to complete a job analysis and the method used usually depends on the type of job or business. The four most common job analysis types are the; job component inventory; functional job analysis; position analysis questionnaire; and task inventory (Spector, 2008). For this paper this writer has chosen to use the functional job analysis method, utilizing the O*NET electronic database which was previously found in the Dictionary or Occupational Titles (DOT) and is produced by the United States Department of Labor (Spector, 2008). The occupation chosen is Substance Abuse and Behavioral Disorder Counselor. This paper will also look at the reliability and validity of the Functional Job Analysis as well as some of the pros and cons surrounding the four common methods mentioned above. See more: how to write an analysis paper on an article examples Functional Job Analysis-Substance Abuse and Behavioral Disorder Counselor The functional job analysis is a comprehensive method that makes use of observation, interviews, and scores on several dimensions; these dimensions are relevant to all jobs making this a uniform method to obtain information no matter what the job may be (Spector, 2008). The functional job analysis of a substance abuse specialist is as follows. (Note: due to the extensive amount of information provided much information will be paraphrased and writer will not include 100% of the data provided by O*NET.gov. – Also, the information provided is to show an understanding of the Functional Job Analysis along with the six domains utilized by the O*NET website.) Job Description The analysis begins with a job description as well as some of the titles associated with this vocation. In this case the job is to provide counseling to those struggling with addictions that include substances but also addictions to gambling, or other process addictions (Onetonline.gov, 2012). Job titles include: Counselor; Substance Abuse Counselor; Chemical Dependency Professional (Onetoneline, 2012). Tools & Technology The next section discusses the tools & technology generally used for this occupation. They include: Alcohol Breathalyzers; Personal Computers; and Spreadsheet Software. While this is an extremely comprehensive source there are items that are missing this writer noted the absence of Urine analysis kits used often in the field. Tasks Tasks according to the O*net website include but are not limited to: Completion and Maintenance of Records and Reports; Conduct Chemical Dependency programs; and Coordination with other Mental Health Professionals or Health Professionals as Needed (Onetonline, 2012). Knowledge Knowledge is next and the competencies include: Therapy and Counseling; Psychology; Customer Service; and Law and Government (Onetonline, 2012). Skills Skills include but are not limited to: Active Listening; Social Perceptiveness; Critical Thinking; and Speaking (Onetonline, 2012). Abilities Some of the abilities are: Oral Comprehension; Oral Expression; Problem Sensitivity; and Speech Clarity (Onetonline, 2012). Work Activities The work activities include: Assisting and Caring for others; Communicating with Peers, subordinates, and others; Documenting/Recording Informations; and Getting Information (Onetonline, 2012). Work Context The work context appears to be questions one would ask a prospective employer about the nature of any particular position. Questions center on particular job duties such as the length of time spent on the telephone, or how often one would be called upon to work with external customers and even if there would be time constraints or deadlines (Onetonline, 2012). Job Zone The job zone is devoted to the educational requirements, related experience, and a general look at the type of job it is. In this category some of the examples include: accountants; sales managers; and chemists (Onetonline, 2012). Education Looks at the levels of education required in the field (Onetonline, 2012) Interests This job is categorized as SAI: Social; Artistic; and Investigative (Onetonline, 2012). Work Styles Work styles are mainly characteristics held by people within the field. Self Control, Stress Tolerance, Concern for Others, and Dependability are just some of them (Onetonline, 2012). Work Values People that work in the field are said to value relationships, achievement, and independence (Onetonline, 2012). Wages & Employment Trends Lastly this job analysis discusses wages and employment trends on a national and local level (Onetonline, 2012). Reliability and Validity In order to understand the reliability and validity of job analyses one must have an understanding of who provides the information and who is responsible for gathering and making sense of the data. According to Spector (2008) Job analysis information is collected in several ways by people trained â€Å"in quantifying job characteristics and the KSAOs necessary to accomplish the different aspects of jobs†. These people either survey the employees who do the jobs in question or experience the job firsthand by doing it themselves or observing it being done†. The information is provided by job analysts, supervisors, job incumbents, and/or trained observers. Because supervisors and job incumbents have experience in the field they can be known as subject matter experts or SMEs (Spector, 2008). According to the research Dierdoff and Wilson (2003) found that when creating job analysis there is a reliability factor of .83 showing consistency. Depending on the type of rater inter-rater reliability was lower. Task inventory ratings varied depending on the scale given, or importance of a task and inter-rater reliabilities also varied quite a bit (Spector, 2008). So it seems that if a task inventory rating is used it should be done with great care. Validity is fairly high but comes with a caution. Once again the issue of people’s judgments and bias comes up (Spector, 2008). Job analysis is useful to I/O’s but must be carefully considered to assess validity (Spector, 2008). The job analysis provided by O*NET.gov was accurate and comprehensive but one could see that it is not possible to pinpoint every aspect of the job. Some parts may not apply or may apply to one place of employment and not another. Of course there are also the possible omissions such as the Urine Analysis under tools and equipment. This writer does feel that this particular analysis was reliable and valid based on first-hand knowledge of the field. Performance Appraisal Methods There are two types of appraisals; one is objective and the other subjective. Objective appraisals are a way to measure things like absences, or productivity. This would be a simple way of rating people in certain vocations where showing up and meeting a quota is important. Take people that work in a factory and need to produce high volume; this is one example of where this type of appraisal method would be beneficial. Certain aspects of performance can be measured very well using an objective approach but several weaknesses stand out. One is that the object being measured is not always clear; the other is that it is prone to human error (Spector, 2008) There are several subjective appraisal methods: the graphic-rating form; and many behavior-focused rating forms. These are more likely to be used and measure both trait performance and general aspects of performance (Spector, 2008). Graphic-Rating Form A graphic rating form is a chart with several areas that can be rated with choices either numbered or with other terms such as frequently to never at all (Spector, 2008). It is a way to make an evaluation on many dimensions relating to a particular job. This is an efficient way to get an overall picture. Behaviorally Anchored Rating Scale (BARS) The BARS is a way of evaluating performance on a behavioral level. Relevant job expectations or behaviors are listed and the evaluator will find the choice that best describes an employee’s level of performance along a continuum (Spector, 2008). Mixed Standard Scale (MSS) A MSS has several statements that describe performance or behaviors with three choices that describe a particular level of performance (Spector, 2008). The three choices are randomly placed but they represent good performance, satisfactory performance and poor performance (Spector, 2008). This method like others gives a good overall picture but lacks the details that may surround poor performance. Behavior-Observation-Scale (BOS) The BOS is a way to measure behaviors using a percentage. Instead of describing how well a person responds it describes how often the behavior is seen. One rating could be â€Å"Stays on Task† and the evaluator or observer is to estimate using percentages how well the employee stays on task (Spector, 2008). The BOS is also similar to a mixed-standard scale because it uses critical incidence and either a poor or efficient behavior but; instead of rating behaviors the BOS rates frequency (Spector, 2008). One of the criticisms of the BOS is that to an outsider it may be hard to interpret (Spector, 2008) Conclusion This has been an overview of job analysis, perforamance appraisal, and the concepts of reliability and validity. We have seen that job analysis can be a great source of information. Not only does it provide details pertaining to a particular job but the job analysis can also help in the business world by providing possible legal and ethical issues, training program development and to help establish salaries just to name a few. We also know that there are several methods used to rate an employee’s performance which one is utilized depends on how detailed and what type of information needs to be measured. Lastly as with most other assessments, ratings, and measurements the reliability and validity of any job analysis is open to bias, and other human factors. All of these things must be taken into consideration and critical thinking generally applies.

Examination of the Literature Review Essay

I selected Guidetti and Tham’s (2002) paper because I am fascinated by the work of occupational therapists. They are tasked, by the nature of their profession, to assist people with impairments or disabilities in achieving competence in their daily activities and consequently, they empower these individuals to grab hold of their limitations and transform them in a fashion that nurtures their sense of control and brings peace of mind to their loved ones who lives with them. The paper sought to elucidate the strategies utilized by occupational therapists in their self-care intervention process with neurologically-impaired clients, specifically those who had had stroke or spinal cord injury. The study tapped the qualitative research design. Specifically, it employed a modified phenomenology approach called EPP (empirical, phenomenological, psychological) method in generating and analyzing the data. The purpose of EPP method is â€Å"to describe the essence, structure and character of the studied phenomenon† (Guidetti & Tham, 2002, p. 260). Although it informs the research question, the literature review (as well as the reference list) is not sufficient to build a platform for the â€Å"need to provide a definition and description of the concept of self-training and the typical therapeutic strategies used by therapists† (Guidetti & Tham, 2002, p. 258). It lacks relevant scientific texts. It is understandable that there is no existing study on the subject, but there is more scientific information in the literature about the therapeutic strategies in adjacent fields which could add valuable background to the introductory problem identification as well as to the incisive discussion of the results later on. In the introduction section, the scholars presented the important variables of the research question finely (i. e. , meaning of self-care, therapeutic strategies), but failed to include a review of empirical literature, simply stating that â€Å"there is a lack of empirical studies identifying the therapeutic strategies in self-care training† (Guidetti & Tham, 2002, p. 258). Although the statement may be correct, there are still many relevant studies worth reviewing that would guide the inquiry. It may not necessarily be those on self-care therapeutic strategies utilized by occupational therapist with persons who have neurological disorders, but also those studies on strategies used by the same professionals on rehabilitating persons with orthopedic injuries, lymphedema or amputees which do not specifically addressed the phenomenon, but may have implications for the study. In addition, the physical therapy literature on similar issues could also add important insights. A look at the reference list of the article reveals that it is limited in three ways. First, five of the papers in this list were written by either one of the same two authors, in collaboration with other scholars. Second, there are only three occupational therapy journals where they garnered articles for the review (i. e. , Occupational Therapy International, American Journal of Occupational Therapy, and Clinical Rehabilitation). Finally, the doctoral dissertations/theses reviewed in the paper came only from Sweden. This is not ideal especially in a journal with international circulation. The authors could have scoured articles from other journals of similar discipline that are available like British Journal of Occupational Therapy, Journal of Occupational Science, OT Practice, International Journal of Therapy and Rehabilitation, Journal of Integrated Care, etc. Further, they could have utilized the abstracts available in the Dissertation Abstracts International to offset the Swedish-focused dissertation reviews in the study. In qualitative studies, an in-depth, exploratory literature review is vital to discover what currently exists in the body of knowledge about the concerned phenomenon (Taylor & Bogdan, 1998). Thus, the article’s literature review and reference list in this regard only supported halfway the research question. Much could have been done. References Guidetti, S. , & Tham, K. (2002). Therapeutic strategies used by occupational therapists in self-care training: A qualitative study. Occupational Therapy International, 9(4), 257-276. Taylor, S. J. , & Bogdan, R. (1998). Introduction to qualitative research methods (3rd ed. ). New York: John Wiley & Sons, Inc.

Strategic management of human resources management Essay

Strategic management of human resources management - Essay Example This type of relationship exist between co-workers, and between workers and supervisors, they help employees to listen to others, understanding of acceptance, team building, understanding of workers life issues, avoiding discrimination and in conflict resolution. Employment partnership-it can be defined as the way partnership is developed in the work place and this type of partnership has been seen to help an organisation to be more productive. It involves building strong bonds of relationship in an organisation. Employment partnership is a way forward in integrating employees, such relationships play a major role in environmental scanning, and this can be viewed as the identifying and analyzing external opportunities and threats that may be crucial to the company's success. This partnership is beneficial to the worker and the organization, workers have different needs and therefore their benefits and job security are major determinants of their performance. Consultation of workers is also a major determinant of performance; the employees should be briefed and involved in decision making of an organization. Workers should be allowed to raise their views and opinions in decision making. Communication with employees should include discussion on the overall progress, agreeing on potential progress, discussing how current performance is in line with the long term goals and planning on actions to be undertaken to improve the organization current state. HOW EMPLOYEE.PARTNERSHIP FIT WITH SHRM The main goal of forming these relationships in an organization is to improve on productivity and efficiency of the organization. This will help in reviewing on the overall progress, an organization that creates an environment based on understanding; better communication and honesty will be successful. The company is in a position to resolve conflicts that result and therefore this does not affect its performance. The relationships that exist helps achieve goals because they help match personal needs with work life. This type of relationships help build trust in the work place, training is the most useful tool in forming this type of partnership because attitude change is difficult and therefore t