In this week’s Collaboration, you engage with your colleagues in a further exploration of the evaluation models. This enables you to think about the politics and stakeholder positions that prevent effective evaluation and to consider how organisations might move beyond the simple reactions/happy-sheet approach to evaluating learning.
To prepare for this Collaboration:
•Review the Required Learning Resources that I sent by email.
•Reflect on the range of models of evaluation.
•Think about how to practically apply evaluation theory into practice, particularly to examine more novel ways of evaluating learning such as those suggested by Anderson (2010) in this week’s reading.
SAMPLE ANSWER
Organizations invest in training and talent development to improve employee performance and help the organization to achieve its strategic goals. As such, it is very paramount to evaluate the significance of each learning activity towards improving the work performance, proving the value of learning intervention, and ensuring that the resources allocated are effectively utilized. Regarding learning and development, evaluation is conceptualized as the measurement of the summative value of a learning program.
One of the mostly used evaluation models is the ‘chain reaction’ model developed 50 years back (As cited Anderson 2010). The theoretical foundation of the chain reaction model is based on the principle of measurement of learner’s reactions to their experience during the learning process. The model encompasses five stages modeled in a chain sequence. That is training results in a measurable reaction that is evident in the form of learning outcomes that is exhibited in job behavior and changes in the organization (Anderson, 2010). According to Anderson (2010), this evaluation model is limited to the assessment of reactions to learning outcomes which is valuable in validating the actual program but it creates a distance between the learner and the outcome of learning.
Another evaluation model is CIRO framework conceptualized in the 1970s by Warr, Bird, and Rackham and later developed by Harrison in 2000 (As Cited Anderson, 2010). The CIRO framework concedes Kirkpatrick’s reactions and learning outcomes in the evaluation process. However, the framework institutes that the perspective and learning inputs should be evaluated. The CIRO framework shortcoming is that the model integrates organization performance and individual learning in a detached way. That is they acknowledge the contribution of learning to organization performance as an ‘act of faith.’
To ensure that these theoretical models are applicable in today’s business world, it is important to look at the objective of each learning process. The six-stage evaluation model can be helpful as it is all inclusive of each and every part of the Human Resource Development process. The six-stage evaluation model encompasses of six stages that can be used to evaluate a learning program.
According to Wilson (2014), it is important to set the goals of each learning program by exploring challenges or opportunities within the organization that needs to be addressed. Then a learning program is developed that is capable of educating and imparting skills that work best in addressing the issues noted in the first stage. In the third stage of the evaluation process, the organization should implement the learning program, look out and address the challenges that may arise during the learning process. After the learning process, the participants can exit the program and begin using the learned skills hence benefiting the organization. The six stage model is effective in analyzing the Human Resource Development program in terms of training by showing whether and how the program is of benefit to the organization.
The organization should also institute procedures that can help in tracking program failures that may arise in one or more of the six stages due to flawed logic. This tracking procedure is observed using checklists, feedback and record analysis (Moon, 2013). The outcomes can be evaluated using organizational audits, record analysis, performance evaluation, observation and cost-benefits analysis.
In conclusion, evaluation of learning outcomes should not only focus on the assessment of learning outcomes and benefits of the learning process in attaining the organizational objective. But also the impact of the learning program to the learner. Therefore, it is imperative to choose an evaluation model that addresses the learning objectives and its alignment with the organization strategy (Gold et al., 2013). On the same note, the evaluation model should address the impact of the learning process to the trainee in terms of motivation and job satisfaction.
References
Wilson, J. P. (2014). International human resource development: Learning, education and training for individuals and organisations. Development and Learning in Organizations, 28(2).
Moon, J. A. (2013). Reflection in learning and professional development: Theory and practice. Routledge.
Gold, J., Holden, R., Iles, P., Stewart, J., & Beardwell, J. (2013). The Future of Human Resource Development. Human Resource Development: Theory and Practice, 413.
Anderson, L. (2010). ‘“Talking the talk”’ – a discursive approach to evaluating management development’, Human Resource Development International, 13 (3), pp.285-298.
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A 1-page taxonomy that follows the Leadership Theory Taxonomy Template available in this Module’s Learning Resources to the Assignment Part 1 – Module 2 link.
A 4- to 6-page (not including cover page or references) Leadership Theory Taxonomy paper that explains in detail each theory listed in the taxonomy, by synthesizing multiple scholarly references and examples. This paper will be submitted to the Assignment Part 2 Turnitin – Module 2 link. Be sure to include the following in your paper:
Five peer-reviewed scholarly resources in addition to those offered by the Learning Resources
Specific examples of two of the four theories drawn from experiences or scholarly literature
Work that adheres to APA style
SAMPLE ANSWER
Leadership theory taxonomy
Over the number of years, leadership has continuously evolved giving rise to the different types of leadership positions. The leadership theory taxonomy studies the behavior, traits and ability of a leader to play the important role that the society expects them to play. The various leadership theories are defined by the various unique characteristics and they vary considerably. In this study, three types of leadership’s taxonomical theories are going to be explored. The three include transformational, situational leadership taxonomy, contingency and leader- member exchange.
Transformational leadership theory
Transformational leadership refers to the mode that goes beyond the normal running of day-to-day operations in any business organization. It depicts the leadership of the future whereby the leader is more interested in creation of a vision for the company. Transactional leadership runs or provides a mechanism to run the day-to-day operations without much focus on the future goals of any company (Patrulescu, n.d ). The transformational style was coined in the year 1973 by Downtown. It puts more emphasis on providing motivation or morale for their employees, understanding their problems and looking at the bigger picture of trying to solve such problems. It also places high regard to the employees of a given company and urges them to put more focus on the good of the group rather than the individual interests. Additionally the leader serves to motivate and inspire those under them, at the same time providing them with an opportunity to make solo individual positions regarding several types of issues (Sarros& Santora, 2001).
The common four features that describe the transformational leaders are referred to as the 4is. They include intellectual stimulation, inspirational motivation, individual consideration and idealized influence. Transformational leaders are open-minded and tend to agree with most of the employees wishes. They area also extraverts and conscious of the surrounding climate that their employees face. A perfect example of a transformational leader was Nelson Mandela. Nelson managed to inspire confidence in the people of South Africa in abolishing apartheid in South Africa .similarly Martin Luther King Junior similarly managed to abolish discrimination between the whites and blacks providing them with equal opportunities in the united States. Meanwhile Nelson Mandela urged forgiveness between the native compatriots of south Africa and the Boers who had racially segregated them. The followers since they looked upon the leader they agreed to let by gones and embrace each other thanks to the leader (Sarros& Santora, 2001).
Situational leadership theory
Situational leadership charges leaders to change basing on the various conditions or circumstances. The four main leadership characteristics that define the leadership are delegative, supportive, directing and coaching role. The delegative role allows the leadership to assign powers or specific job details to other employees to act on their behalf in making certain conditions or situations. The delegative style of leadership is considered as one of the highest form of leadership position. Supporting leadership form allows the individual leader to consciously partner with their employees or subjects in assisting them to achieve their various roles or goals.. the leaders in this case act more as consultants assisting the employees where some matters may be difficult or complex (Graeff, 1997)..
The coaching mode of leaders requires both directive and supportive principles from the leader. The leader is supposed to teach the employee about key aspects concerning their jobs. The employees or followers of the leaders might not have particular knowledge concerning a given subject. Therefore , the mode that leader, uses ultimately defines whether the followers would understand the said concepts. It becomes imperative that leaders become more supporting in assisting the employees. The leader should direct the employees or followers to acquire the basic knowledge and skills. Finally yet importantly, the directive method employed in situational leadership is used in providing supervision. Situational leadership is much more of an adaptive mod of leadership practiced by most leaders throughout the world( Nye, 2013).
Contingency theory
Similar to the situational theory, contingency theory defines circumstances between leadership styles and different situations. The success of the leader depends on the task structure, subordinates and the power position. The task structure requires every aspect of the task to be organized clearly. The leader power position provides the leaders with an option of firing the employee in case they do not meet the organizations goals or objectives. The leader has the option of hiring new employees. The leader’s member relationship in the structure would determine the success of the leader. A closer relationship between the leader and the members results in a higher chance of success. The best way of organizing a given organization is in the managing the task ahead. The contingency structure puts more emphasis on using different managing practices in different organizations
Leader-member theory
Leader- member exchange theory puts more emphasis in the communication structure between the leaders and their subordinates. The more and closer the relationship between the leaders and the subordinates the more the higher of success in an organization. By having the leader –member theory, the members know the exact roles they are to play in the company in realizing the set objectives. The leader in this case provides a better organizational climate due to the close relationship. A better communication structure results in provision of solutions to the problems that affect the organization. Leaders have an important role in building this communication barriers and the only way to enhance this communication is via breaking the normal communication barriers (Sherman,2002).
Leaders –member exchange theory has three important roles. Role taking, role making and routinisation of the roles. Role taking involves the leader’s ability in assign new roles to every new member that joins a specific team. Role making involves the assigning the members in a given group. The in-group recognizes employees or composed of members who have proved their loyalty and trust to the leader(Antonakis, & House, 2014). They are provided with unrestricted opportunities in doing most of the task since they are completely trusted. People in this group have a similar personality to the leader. The out-group is composed of employees who have shown distrust or have been not loyal to the leaders. The communication structure is a little bit broken and the members of the group are a restricted access. Finally yet importantly, in daily company routines, in-group members tend to rely on the leaders and would want to maintain a good impression to their leaders. Out-group members have a lot of distrust for their leaders and never carry out activities in the right manner (Antonakis & House, 2014)..
In conclusion, the different taxonomical theories underlying the various types of leadership ultimately defines the type of leader in any organizational setting and climate. Additionally, the leaders who are the forefront of maintaining the image of the company should choose one of the methods to lead their organization.
References
Antonakis, J., & House, R. (2014). Instrumental leadership: Measurement and extension of transformational–transactional leadership theory. The Leadership Quarterly, 25(4), 746-771.
Hesselgreaves, H., & Scholarios, D. (2014). Leader-member exchange and strain: a study of job demands and role status. Human Resource Management Journal, 24(4), 459-478.
Patrulescu, C. Comparison and Contrast of Trait-Based, Situational and Transformational Leadership Theories. SSRN Electronic Journal. https://www.doi:10.2139/ssrn.2132126
Sarros, J., & Santora, J. (2001). The transformationalâ€transactional leadership model in practice. Leadership & Organization Development Journal, 22(8), 383-394. https://www.doi:10.1108/01437730110410107
Sherman, J. (2002). Leader Role Inversion as a Corollary to Leader-Member Exchange. Group & Organization Management, 27(2), 245-271. https://www.doi:10.1177/10501102027002005
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This Key Concept Exercise asks you to consider how learning theory can be used practically to help organisations design effective learning interventions.
For this Key Concept Exercise, you begin to analyse a number of definitions of learning and evaluate and critique theories of learning.
To prepare for this Key Concept Exercise:
•Consider the specific examples of theories and definitions of learning.
•Consider the and ragogical perspective in this discussion (as opposed to a child-focused, pedagogical approach) and the emphasis on learning that makes employees and their organisations more effective.
To complete this Key Concept Exercise:
In an approximately 550-word response, address the following issues/questions:
•Analyse at least two learning theories.
•Use specific examples of theories and definitions of learning and how they can be applied in an organisational context.
•In formulating your Key Concept Exercise, consider the following issues questions:
o How can learning theory help us to understand how organisations can design learning that maximises employee performance and adds value to the business?
o Which learning theory or theories connect most closely with your own personal views of how learning occurs?
o How is learning viewed in your organisation? How does this view connect with learning theory?
o How does theory help shape and influence practice in general?
o What elements of learning theory would you recommend your organisation draw on in order to make learning and development more effective?
SAMPLE ANSWER
Learning theories
Cognitive apprenticeship theorizes a process in which a skilled master teaches an apprentice to acquire the skill in question. The theory was developed upon recognition that most skill masters often overlook the implicit process necessary for learners to carry out the skills taught (Rosenheck, 2010, p. 18). Cognitive apprenticeships thereby aim at opening up the tacit processes by allowing students to observe, perform and practice as guided by the teacher in order for them to reproduce the skill accurately. To promote this, the learner is required to have access to skills, maintain attention and have learning motivation (Chan, Miller and Monroe, 2009, p. 37).
In a work environment, cognitive apprenticeship is likely to yield positive income in terms of skill execution. This is more so where learning is done in the work setting to allow learners to exercise the skills acquired practically. Rosenheck (2010, p. 18) notes that on-job training yields better results because best practices can be taught and exercised, while poor practices can be corrected real time. The practical experience ensures that individuals can repeat the tasks easily and thus creates better outcome.
The theory of transformative learning is highly popular in matters related to adult education, with users emphasizing the need to make frames of reference more inclusive, reflective and open in order to promote learning-induced change. Transformational learning involves expansion of the learners’ frame of mind from basic world view to more critical assessment of issues and underlying premises (Hodge, 2014, p. 165-166)
Transformational learning has great potential in improving productivity at the work place. In order for this theory to be effective in the work place, Sammut (2014, p. 39-40) suggests the use of work integrated learning; which creates social cultural experiences that trigger interpretation, knowledge formation and meanings. Transformation based on teams is further considered more effective, due to their ability to transform frames of reference.
In my view, the theory that closely connects to how I view learning is cognitive apprenticeship. I believe that learning is a process and that knowledge acquired can only be translated into practical outcomes once it has been assimilated. This theory is realistic in that it recognizes that practical learning is more effective than theoretical learning because it helps an individual learn in the work settings (Rosenheck, 2010, p. 20).
In my organization, learning is considered as highly individualized; in that each person has a different learning capability. Depending on the strengths and weaknesses of individuals, measures are taken to ensure that each individual acquires the required skills. Connecting this to the learning theory, cognitive apprenticeship has constantly been used to ensure that staff learn from the leader through observation, ratification and practice.
Recommendations
In order to make learning and development more effective, it is important for the management to identify the perspective of learning adopted in order to determine the possible impact. Various perspectives including the behaviorist, social learning, cognitive and human perspectives yield different results and based on the need of the organization, the management should choose a perspective that best suits the situation (Sammut, 2014, p. 51). Behaviorist perspectives for example focus on individual response to environmental stimuli and would be most relevant for reward-based motivational settings. Cognitive perspectives on the other hand are more applicable where skill development is the focus of the organization.
Choosing the right mode of learning determines the outcome of the organization’s learning goals, hence the need to choose a method that assures effective transfer and internalization of skills. This is best achieved through practical and on-job training as in cognitive apprenticeship. It is argued that where learners are taught away from the real work context, cognitive apprenticeship would not be as effective; hence the need to create real situational learning to promote outcome (Chan, Miller and Monroe, 2009, p. 36).
Suppose that you have been working as a labor and delivery nurse at a hospital in an urban area for eight years. A colleague of yours, Mark (48 years old), is the Charge Nurse. Mark has been working at the hospital for the past four years, and he is your immediate supervisor. Outside of the work environment, you speak to Mark regularly on the telephone and the two of you are connected by a social networking website. Sam is a 17-year-old high school student who recently began working at the hospital as a volunteer to assist the phlebotomist in transporting blood samples to the laboratory. Sam has only been working at the hospital for two months. You, Mark, and Sam are dining in the employee cafeteria one afternoon along with four other hospital employees. A heated debate arises about how health care reform might affect your work environment in the near future. Some at the table feel that a letter should be written to an upper level hospital administrator to prevent any bad changes from occurring.
This is a three-part assignment.
First, explain Social Impact Theory in your own words (1 paragraph maximum).
According to Social Impact Theory:
Would a letter eventually be written to the administrator?
Which member of the group would most directly influence your way of thinking? Why?
Why would the number of people participating in the conversation be relevant?
How might media coverage of Health Care Reform shape the opinions of participants?
SAMPLE ANSWER
Critical Thinking and Social Impact Theory
The Social Impact Theory is a school of thought that is used in the prediction of social impact based on the different situations that can be considered. According to this theory, the magnitude of a social impact in any given situation depends on several parameters. These parameters are the parties involved, namely the sources of the influence as well as the group being targeted by the change. The second parameter of social impact is the social forces that come into play relevant to the situation at hand (Bhondeckar et al, 2013). This covers the potential of the source to influence, the urgency of the issue at hand and also the total number of sources working towards impact. The number of targets is inversely proportional to the effectiveness. An example of a social issue that can be explained through this scenario is the campaign against lengthy sentences for minor drug offences. The prime mover of such an action will be an individual or group of individuals who wish to see changes in the system. For them to have their voice heard and changes to be actually made, it is paramount that they convince more people to see things from their perspective and then join them. Their target also needs to be specific whether it is a politician or people who can influence a politician. Not carefully considering a strategy increases the chances of failure (Kwahck 2013).
Based on Social Impact Theory, a letter is bound to be written to the administrator. This is because all the parameters necessary for social impact are present in this given scenario. There is an issue at hand, the potential impact likely to be brought out by the healthcare reforms. The target of this potential social change will be to the administrator since the administrator has the capacity and authority to make the desired changes. There is also a sense of immediacy with the issue given that it brought up a heated debate (Thompson, 2013).
The member of the group who would most likely influence my way of thinking is Mark. This is because we know each other both within the work environment and outside. Furthermore, Mark is older than me and therefore has had a greater deal of exposure than myself. We get to discuss things with mark on different forums, the workplace, personally over the phone and also over social media. This means we have over time developed a lot in common and as such it is easier for my thoughts to be aligned to his. This may also be contributed to by the fact that our friendship with him will make us see things in the same way or look at the issue from a common perspective. A concept of consolidation with respect to social change theory states that individuals that regularly interact over time subconsciously end up having similar opinions as time progresses (Moynihan et al, 2013).
The number of people participating in the conversation would be relevant because it determines the number of sources and this has a direct effect on the power that the letter to the administrator would have. From the definition of the social impact theory, the number of sources is a main parameter. It will strengthen any campaign that will follow and this helps to amplify the message. If it is an idea that is promoted by few people, it will appear to be a personal issue or a subjective one that does not warrant changes to the entire system. A higher number of people participating will also be relevant in that it will embolden the participants in the conversation about the positions they hold. The larger the group means there are more consenting voices. This is necessary in eliminating or reducing the apprehension one may have if they feel they are made vulnerable by targeting the organization on their own. The concept of Social impact theory that arises in this regard is Clustering. Clustering is a phenomenon that leads people with similar points of view to gather in groups. The coming together of individuals in this group due to the similarity of their points of view and interest is a clear example of clustering (Dewall et al, 2010; Thompson, 2013).
Media Coverage of Health Care Reforms will shape the opinions of participants in several ways. First of all, it will make them aware about the actual healthcare reforms. Furthermore, the media coverage will analyze the dynamics of the reforms clearly illustrating who the stakeholders are and how they will be affected. The participants will get to understand where they are in the analysis and how they are likely to be affected. If the likely impacts will be favorable to them, they are likely to be supportive of the reforms. If the media focuses on the negative impacts likely to impact the participants, they are likely to take a position against it. The coverage of healthcare reforms by the media will also highlight issues such as the key decision makers and the degree of flexibility they have towards the matter. If the media shows them to be rigid and adamant about the proposed reforms, participants are bound to be more agitated and eager to express their views about the issue. On the contrary if the media reports in a manner that shows a relaxed attitude by the decision makers behind the health reforms, participants will not be less eager as they feel they have time. Divergent views are likely to come up in the event of media coverage. This is because the members of the group will consume the news independently (Hogg and Tindle, 2008).
Bhondekar, A. P., Kaur, R., Kumar, R., Vig, R., & Kapur, P. (2011). A novel approach using Dynamic Social Impact Theory for optimization of impedance-Tongue (iTongue). Chemometrics and Intelligent Laboratory Systems, 109(1), 65-76.
Moynihan, D. P., Pandey, S. K., & Wright, B. E. (2012). Prosocial values and performance management theory: Linking perceived social impact and performance information use. Governance, 25(3), 463-483.
Thompson, J. B. (2013). Ideology and modern culture: Critical social theory in the era of mass communication. John Wiley & Sons.
DeWall, C. N., Twenge, J. M., Bushman, B. J., Im, C., & Williams, K. D. (2010). Acceptance by one differs from acceptance by none: Applying social impact theory to the rejection-aggression link. Social Psychological and Personality Science, 1(2), 168-174.
Hogg, M. A., & Tindale, S. (Eds.). (2008). Blackwell handbook of social psychology: Group processes. John Wiley & Sons.
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Drawing only on the readings for this topic, examine the tensions between the claim to individual autonomy and the obligation to conform to the expectations of the wider community. Answer with reference to immunization. You should discuss the tensions firstly in the broader, theoretical context, before using your chosen issue to illustrate the tensions. In other words, the issue is not the thesis or focus of the discussion of the essay—the issue merely illustrates the discussion. You can draw on sources from outside the reader but only to give the issue some context.
SAMPLE ANSWER
Individualism vs Commuunitarianism
Introduction
The friction between liberalism and communitarianism has become a prominent centre of argument in the world and today the issue remains both extremely complex and to a larger extent not resolved. Some scholars feel that it is an impasse between individual independence and communitarian thinking that dictates the differences. The constitution which is composed of the bill of rights talks about the rights of each person in the society. These principles are contained in the liberal argument. However, on the other hand, those who support communitarianism believe that a society is a social set up hence people complement each other (Coltheart, 2013).
Discussion
The health of the public health is controlled by rules and regulations. Communicable diseases require immunization so as to contain them. However, whether to force people to get immunized or to let people decide for themselves has remained a very controversial subject. To assume that it is easier to achieve human dignity without prior consideration of their social surrounding is to fail to appreciate the community as the defining factor of people’s identity. Communitarian critics argue that human rights advocates are the main cause of social breakdown. Human rights have been used to promote individual freedom. The customary law according to some scholars is used to enhance independence hence some level of worthiness among individuals. These factors promote social characters that ensure the community is well protected away from any form of threat like the infectious disease.
According to some scholars, communitarianism places more emphasis on the importance of respecting independence of every individual hence human rights. This is in contrast to the perception that they propose adherence to the universally acceptable principles which guide the way people behave.
On the other hand, based on individual autonomy, philosophers argue that the principle comes with a moral obligation. An individual has the powers to choose and evaluate each decision before agreeing to do anything. According to this principle, an individual is not mandated to subscribe to a universally accepted norm in society. Based on this argument, an individual is perceived to be rational hence reasons and makes an independent move. In the case of immunization, an individual is able to reflect on the end results of this undertaking including those he or she thinks are right and wrong. Individual analyses under liberal theory entails considering the effects that a decision has on others. The most important of all the interests thought about is the one that stands at a maximum point. Therefore the individual decision will be the one that enhances justice and protects individual rights to existence and liberty.
However, according to the communitarian critics of liberalism, the perception of individual autonomy in line with moral principle is not real. Based on this point, it is argued that moral agents in a realistic society do not decide what they want to do. Such kind of people does not have a uniform standing point in terms of their moral principles. Moral standpoint is ultimately determined by the environment. Based on this argument, what is considered moral is very particular hence deciding on what is moral is not very possible. According to Communitarians, what is good dictates what is right. A complete moral principle should therefore constitute all these moral norms (Kymlicka, 2012).
According to the above argument, communitarian as compared to individual autonomy respects the shared understandings of different individuals. However, liberal principles challenge the communitarian point of view in terms of moral identity of the whole society. In addition, the principle challenges the fact that internal evaluation is capable of differentiating between good and bad practices within the society. The liberals criticize the thinking that communitarian represents the views of all the people. According to these proponents, communitarianism only represents few individuals in the society (Mulhall & Swift, 2014).
Immunization is perceived by communitarians as being a direct link with the people within a society. The result of this association benefits every individual within the society. The shared good among all the individuals within the community enhances the bonding of all the members. Moral standing of the entire community is well defined by these principles besides its justification (Okin, 2013).
Conclusion
Individual independence and communitarian engagement are both very important principles when it comes to adoption of an immunization program. Every decision taken by either an individual or the entire community has a direct impact on the livelihoods of the whole society. The most important factor that dictates the way people behave in a society is the moral principles. One has to consider individual interest and the interest of the entire community when making any decision. Consequently, both principles are good hence ought to be chosen based on individual preferences. This move will eliminate cases of tension within the society when it comes to the immunization program which is a social activity.
References
Coltheart, L. 2013. ‘Desire, Consent and Liberal theory’ in C. Pateman & E. Gross (eds.), Feminist Challenges: Social and Political Theory. Boston: NorthEastern University Press
Kymlicka, W. 2012. Liberalism, Community and Culture. Oxford: Clarendon Press
Mulhall, S. and Swift, A. 2014. Liberals and Communitarians. Oxford: Blackwell
For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.
SAMPLE ANSWER
The writer must clearly relate to each post hear below constructively challenging or acknowledging the writer.
Trade-off and Pecking-order Theories
Several theories are proposed to explain how companies deal with debt and financial distress. After reviewing the resources for this week:
Compare and contrast trade-off theory and pecking-order theory.
Describe a specific business that seems to follow trade-off theory and another that follows pecking-order theory.
Why would these theories be more applicable in some industries than others?
For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.
Post 1
In a one paragraph each expand and constructively challenge each of this postings, using a scholarly article to support your point on each paragraph
Trade Off and Pecking Order Theory
Compare and contrast trade-off theory and pecking-order theory
The Trade-off Theory or Static Trade-off Theory states that a firm’s capital structure decision involves a trade-off between the tax benefits of debt and the costs of financial stress. Firms choose their capital structures by trading off the benefits of debt financing such as tax shields, against the costs associated with financial distress and bankruptcy. The implication shows how each individual firm has an optimal amount of debt, which becomes the firm’s target debt level (Ross, Westerfield, & Jaffe, 2013). The company will choose how much debt to finance and how much equity to finance by balancing the costs and benefits of each. This theory shows how corporations are financed with debt and equity.
The Pecking Order Theory is a hierarchy or financing strategy in which using internally generated cash is at the top, issuing new equity is at the bottom, and issuing new debt is in the middle (Ross et al, 2013). Firms would prefer internal financing, and debt is preferred over equity if the firm has to result to external financing. When firm’s issue equity it means they have to bring external ownership into the company. These two theories are similar because they weight the benefits and costs between debt and equity using the debt ratio. The two theories are different because in the Trade-off Theory asset tangibility, profitability and tax shield are significant. In the Pecking Order Theory the most influential factors are long term profitability and investment opportunities (Vatavu, 2012).
Describe a specific business that seems to follow trade-off theory and another that follows pecking-order theory.
A business that follows the Trade-off Theory is one that is well established with enough equity generated in the firm. Microsoft is a business that could follow the trade off theory because it was not at its optimal capital structure and was not maximizing its value as an all equity firm. A business that follows the Pecking-order Theory is a smaller business. These businesses use their internal resources first before turning to lenders or investors to keep the business operational.
Why would these theories be more applicable in some industries than others?
These theories could be more applicable to some firms than others because the level of debt and equity in a firm plays a major significance. These theories apply to firm specific factors that show most significance in the capital structure of asset tangibility, size, investment opportunities, profitability, and tax shield (Vatavu, 2012).
References
Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate finance (10thed.). New York: McGraw-Hill Irwin.
Vatavu, S. (2012). Trade-off versus Pecking Order Theory in listed companies around the world.
Annals of the University of Petrosani Economics, 12(2), 285-292. Retrieved from
Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.
The trade off theory the optimal point where a firm’s use of debt and equity capital provides the greatest benefit to the organization in terms of the cost of capital. Using the Modigliani-Miller proposition II of the model, a company will enjoy the use of debt as a form of interest tax shield. The size of the company does not matter but the benefit obtained from using either the debt capital or equity (Modigliani and Miller, 1958).The cost of capital is weighted against the benefit of using either of the two or the proportion that derives the greatest benefit. Microsoft would have accumulated a lot of equity capital in its existence but its benefit compared to companies that have optimal debt-equity ratio may be deriving more benefit. The pecking order on the other hand proposes that the management of a company should use a source of capital that provides the most information or one which the company has more information on its source and application. This information would include the company’s business risks, the degree to which a company’s assets are tangible and the tax situation in a country. These means that companies should use equity capital. A company achieves the highest value when it utilizes 100% debt in its capital structure while at the same time its cost reduces to the lowest than when its financing its investment or development from equity capital. The US government occasionally offers zero-federal-plus-state corporate tax rate to promote investment in certain industries like in infant apparel manufacturing companies. These opportunities represent savings in terms of debt capital application.
References
Modigliani, F. and Miller, M. (1958) “The Cost of Capital, Corporation Finance, and the Theory of Investment,” AmericanEconomic Review, June, 48:3, 261–97.
Post 2
Capital Structure Theory
Capital structure determination poses a challenge to financial executives. Corporate leaders consider assets, profitability, size and debt when selecting a capital structure model. The purpose of this discussion is to compare and contrast trade-off and pecking-order capital structure theories.
Trade-off vs. Pecking-Order Theory
Trade-off and pecking-order theory are two capital structure options used by businesses. Financial leaders must determine the best methodology for funding capital projects, expansions, or meeting shareholder obligations. Trade-off theory states that a company balances the benefits of debt to increase capital with the risk of the cost of bankruptcy (Ross, Westerfield, & Jaffe, 2013; Vatavu, 2012). Conversely, pecking-order theory dictates a hierarchy decision process for raising capital where internal funding is the priority then debt financing (Guo&Leinberger, 2012; Ross et al., 2013). In a firm where leveraging debt provides a maximum tax benefit, the financial officer may choose a trade-off capital structure model whereas in a company with low-risk tolerance pecking order may be the most beneficial option.
Capital Structure Theory Application
Trade-off theory focuses on debt leverage for the purpose of raising capital. Large or established firms are most likely to employ the trade-off theory in their capital structure (Lopez-Gracia&Sogorb-Mira, 2008; Vatavu, 2012). Big companies have many assets along with stable revenue that allows for debt leverage tolerance. Businesses that are widely diversified such as Disney, also represent an example of a firm that employees trade-off theory in that the can take advantage of tax benefits because they have little risk of bankruptcy (Vatavu, 2012). Lopez-Gracia and Sogorb-Mira (2008) reviewed more than 3,500 small and moderate sized company’s capital structure and found that the consumer and manufacturing industries are most likely to employ the trade-off capital structure theory.
Pecking-order capital structure favors internal financing over external funding but like trade-off theory is not applicable to all companies. Small firms and new business are most likely to employ pecking-order theory because the tax shield benefits do not outweigh the cost and risk of debt leverage (Lopez-Gracia&Sogorb-Mira, 2008). Smaller firms who favor internal financing of projects and tech industry where the company has intangible assets utilize the pecking-order theory (Guo&Leinberger, 2012). Companies who cannot leverage debt or want to appear stronger may implement the pecking-order capital structure theory.
Rationale for Trade-off and Pecking-order Theories
The rationale for choosing one theory over another depends on the company type, size, and goals. Trade-off capital structure provides improved stability to balance debt and equity while funding capital budgets (Vatavu, 2012). Conversely, firms who are vulnerable, intolerant to risk, faced with high financing costs, or are in a growth phase benefit from pecking-order capital structure (Guo&Leinberger, 2012; Lopez-Gracia&Sogorb-Mira, 2008; Vatavu, 2012). The benefits of tax deductions may not be an advantage to the small or emerging company attempting to establish itself. Therefore, pecking-order is the optimal choice in the capital structure.
Conclusion
A capital structure theory selection must be pondered carefully. Business and financial leaders must choose a structure that fits the company’s size, operations, financial needs, and risk tolerance. Trade-off theory is best applied to businesses that are established, profitable and have tangible assets where debt leverage maximizes tax benefits to funding. Pecking-order theory, on the other hand, supports the smaller or emerging firm who prefer to finance through their internal equity and earnings. The goal of the capital structure is to provide funding for capital budgets therefore selecting a practice theory will enable a company to establish appropriate funding while remaining profitable.
References
Guo, E., &Leinberger, G. (2012). Firm growth and financial choices in Pennsylvania firms: An empirical study about the pecking order theory. Journal of Accounting and Finance, 12, 123-142. Retrieved from http://www.na-businesspress.com/jafopen.html
Lopez-Gracia, J., &Sogorb-Mira, F. (2008). Testing trade-off and pecking order theories financing SMEs. Small Business Economics, 31, 117-136. doi:10.1007/s11187-007-9088-4
Ross, S. R., Westerfield, R. W., & Jaffe, J. (2013). Corporate finance (10thed.). NY:McGraw-Hill.
Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.
The use of debt capital has mostly being applied to finance large projects that are beyond the company’s ability to finance through equity. The difference between using debt and equity in a company largely depends on a company’s liquidity and leverage status. Companies that are unstable financially prefer the pecking order while financially sound and stable companies would prefer the trade off. Other factors like the regulatory environment, the conditions and state of a country’s economy and the type of industry that the company is operating in have to be factored. For example, if the US government removes the tax benefit and the 40% federal-plus-state corporate tax is fully implemented, companies would think again about the trade-off especially the small industries. In my opinion, the relative issue between the pecking order and the trade-off in these case is that the debt holders are in most cases particularly concerned with the company’s ability to repay the debt and they are represented by the group that advocates for the pecking order while the shareholders are concerned with the ability of the firm earning big income hence the group that supports the tradeoff issue. A successful shareholder will earn more by investing in risky projects but the debt holder will only earn his return whether the project fails or succeed (Myers, 1984, pg 16). The pecking order concept claims that companies prefer equity financing as it involves the use of the relatively safe retained earnings that bears no risks compared to the risky external financing that also involves the disclosure of a lot of information on the company prospectus.
References
Myers, S. (1984)”The Search for Optimal Capital Structure,” Midland Corporate Finance Journal, 1 spring, 6-16
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For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.
SAMPLE ANSWER
It is strongly recommended that the writer tie each response to each posting reacting to the post directly why offering more insight on the topic of the post below.
Market Efficiency Theory
The theory of market efficiency is based on the premise that a market is considered efficient when stock prices are an actual reflection of information known about a company. U.S. markets are generally viewed as semi-strong form market efficient.
What would happen if U.S. markets became less efficient?
What might lead to markets becoming less efficient?
How do markets in other countries compare to the U.S. in terms of efficiency?
For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.
Post 1
In a one paragraph each expand and constructively challenge each of this postings, using a scholarly article to support your point on each paragraph
Market efficiency theory states that investors have accurate information and use it correctly to make informed decisions about their investments (Markowitz, 2005). This evens the playing field for investors because each investor has the same amount of information to make informed decisions about their investment. It is an unrealistic expectation that all investors would have the same type of information. If that were the case, then there would not be investors that outperform the market like Warren Buffet. Even if all investors have accurate information some investors may interpret them differently. Some investors may interpret to mean that the company is in a healthy financial position while others may see the loop holes and not want to invest in that particular company.
If U.S markets became less efficient then there would be greater variability in the market. Less efficient means that different investors have different amounts of information. This would lead to bubbles in pricing and volatility in the market because investors would behave differently from one another because of the differences in their knowledge.
One major reason for a market to become less efficient is the behavioral patterns of investors. Some investors behave differently to others when they have information about a stock. Some investors are more risky than others and their buying or selling pattern will have an influence on the overall stock price. Another reason would be insider trading which is illegal but could happen. Investors may be privileged to information about a company before it is released to the public. If investors have financial information about earnings before the release date they may choose to buy or sell more of that particular stock. It would make the market inefficient because not everyone has this information so therefore everyone would not behave the same way.
The options market in India is considered to be priced efficiently according to Mohanti and Priyan (2014). They observed little or no difference in the price of stock using the Black Scholes formula compared to the actual price of the stock. Their findings suggest that the Indian market was efficient for the period 2008 to 2012.
References
Markowitz, H. M. (2005). Market efficiency: A theoretical distinction and so what?.Financial Analysts Journal, 61(5), 17-30.
Mohanti, D., &Priyan, P. K. (2014). An empirical test of market efficiency of Indian index options market using the Black–Scholes model and dynamic hedging strategy. Paradigm 18(2), 221-237. doi:10.1177/0971890714558709
Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.
The definition of market efficiency varies but it’s directly related to the information that the investors have and which is reflected on the prices of stock. Fama (1970) suggests that weak market efficiency is based on information on past prices while semi-strong efficiency is based on information on current prices. Strong efficiency is based on current prices and real time information. The US is considered as the most industrialized nation on earth and its largely because of its advanced communication and information systems. The information on all listed companies is available to all investors and the stock markets transactions are also available round the clock through on line networks. Hence the efficiency of the US stock markets cannot be matched globally. The huge investments that most multinational companies have made in the US must be related to the efficiency of the market. Capital markets that have lower transactional costs compared to the financial gains from the market provide more efficiency in the market as it draws more participants hence more investors. If the capital markets increased their transactional costs to be even with the market returns then all the gains in investments would be lost as most investors would find the market unprofitable hence sell out their shares. These actions would result in less participants and reduced amount of investments in the capital market. Inefficiency in the capital markets would mean reduced investments. Other causes of inefficiency like insider trading and behavioral patterns are can be tackled through the right channels (Markowitz, 2005). Insider trading in the US is illegal while behavioral patterns last only a few days or weeks after or before major company announcements. These actions provide self checking mechanism as share prices would rise if the public has high expectations on a company’s performance however the confidence wanes once reality sinks in that nothing new is forthcoming from company changes.
Markowitz, H. M. (2005). Market efficiency: A theoretical distinction and so what?.Financial Analysts Journal, 61(5), 17-30.
Post 2
What would happen if U.S. markets became less efficient?
Since the time of the Founding Fathers, U.S. leaders have believed in the concept of American exceptionalism, that the U.S. is a unique country with a special mission (Ross, Westerfield, & Jaffe, 2013). It is a notion that continues to this day. A debt crisis in Portugal could send ripples of uncertainty through world financial markets, and if a larger country like Spain fell into crisis, those ripples could prove mighty destabilizing. But U.S. debt runs the risk of crashing the entire operating system of the global economy. Here’s what I mean:
Not only is the U.S. the world’s largest economy by far but it also dominates the global monetary system. In many respects, the entire architecture of global finance is built upon the U.S. economy. Its capital markets are the most liquid. The dollar is the world’s No. 1 reserve currency and the primary one used in foreign exchange transactions and trade. Countries like China and Japan have their national wealth stored to a high degree in U.S. debt. When investors get nervous, they rush to U.S. dollar based assets, and especially U.S. debt. The perception has always been that the U.S. is the ultimate safe haven. Even as its financial condition sickens, that perception remains. Despite a dramatic increase in U.S. deficits and debt in recent years, the country has still been able to borrow at exceptionally low rates. In other words, the U.S. has benefited tremendously from its economic exceptionalism (Ross, Westerfield, & Jaffe, 2013).Now let’s see what would happen if that perception fundamentally changed. U.S. Treasury securities would be seen as riskier and would, therefore, become less attractive. Interest rates would rise in the U.S. as a result, not only making it harder for the government to finance budget deficits and debt, but also raising borrowing costs across the economy, slowing investment and consumption. The U.S. dollar would weaken, undermining the value of currency reserves around the world and speeding us along to the day when the dollar is no longer the world’s premier currency. All that would be destabilizing enough. It would likely mean slower growth in the world’s largest economy, deteriorating living standards for Americans and thus slower growth for the entire global economy (Ross, Westerfield, & Jaffe, 2013).
What might lead to markets becoming less efficient?
An immediate and direct implication of an efficient market is that no group of investors should be able to beat the market consistently using a common investment strategy. An efficient market would also carry very negative implications for many investment strategies and actions that are taken for granted. In an active market, equity research and valuation would be a costly task that provided no benefits. The odds of finding an undervalued stock should be random (50/50). At best, the benefits from information collection and equity research would cover the costs of doing the research. In an efficient market, a strategy of randomly diversifying across stocks or indexing to the market, carrying little or no information cost and minimal execution costs, would be superior to any other strategy that created larger information and execution costs. There would be no value added by portfolio managers and investment strategists. A policy of minimizing trading, i.e., creating a portfolio and not trading unless cash was needed, would be superior to a strategy that required frequent trading (Mohanti&Priyan, 2014).
How do markets in other countries compare to the U.S. in terms of efficiency?
The United States has recovered more quickly than other countries that don’t use the euro including Japan, New Zealand, Denmark and Britain. The performance is all the more remarkable considering that the financial crisis that sent much of the world into recession was set off by American homeowners defaulting on their mortgages, taking down a big chunk of the nation’s banking sector (Ross, Westerfield, & Jaffe, 2013).
The one crucial area in which the United States has performed worse than its peers is in jobs. Joblessness is at record highs in countries like Spain and Greece. But many European countries have done a much better job of protecting employment than the United States. In Austria, Germany and Belgium, the governments paid companies to put workers on short-time work rather than lay them off. Sweden also has a longstanding wage subsidy. Alongside stronger unions and stiffer employment regulations that make it tougher to fire workers, these countries managed to prevent soaring unemployment. Total employment in Britain, Germany, the Netherlands, Austria, France and even Italy has recovered more from the financial crisis than it has in the United States. Though the United States has grown faster than France (Van, 2011).
References
Mohanti, D., &Priyan, P. K. (2014). An empirical test of market efficiency of Indian index options market using the Black–Scholes model and dynamic hedging strategy. Paradigm 18(2), 221-237. doi:10.1177/0971890714558709
Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate Finance (10 ed.). New York: McGraw-Hill Irwin.
Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.
The US economy is driven by its competitive capital markets that literally support the livelihood and financial security of the American people (Ross, Westerfield, & Jaffe, 2013). The few cases that the US capital markets have been presumed to be inefficient have resulted in massive losses globally. The 2008 – 2009 global economic crises are closely related with the events that took place in the US following the collapse of the Lehman brothers and other financial institutions during that period. Inefficiencies in capital markets lead to losses both to investors and the companies (Fama, 1970). The prices of shares are associated with the events that are taking place at the capital markets and the information that the investors are receiving Negative information on the performance of a company is enough to send the share prices tumbling downwards.
The causes of inefficiencies in the capital market in the US may only be caused by interference by the government in the form of increased taxes that may decrease company profits resulting in decreased dividends and later reduced company share prices (Litzenberger & Ramaswamy, 1982). The other forms of inefficiency may occur as a result of insider trading where company officials may leak information to certain people who would take advantage in the market performance for companies that are introducing new products in the making or expanding operations in potential markets (Jegadeesh & Titman, 1993).
Compared to other countries the US has been a market setter. Its relatively more efficient capital markets are the largest globally and very successful. Emerging markets like China and Japan remotely compare to the US. The capital markets in the US are favorably placed because of the high GDP per capita in the US compared to China. More people are able to save and invest in the capital markets in the US compared to China, though the population of China is many times that of the US (Blanchard, 2011). But the US has to do more to protect its employment opportunities at home as most companies relocate to the Asian countries that have cheap labor.
Jegadeesh, N, & Titman, S.J.N. (1993). “Returns to Buying winners and selling losers: Implications for stock market efficiency”. Journal of Finance48 (1): 65–91.
Litzenberger, R.H. & Ramaswamy, K. (1982) The Effects of Dividends on Common Stock Prices or Information Effects? The Journal Of Finance, Vol.37, issue 2, pages 429-443, May 1982.- 10.111/j.1540-6261.1982.tb03565.x Retrieved 30 April 2012.
Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013) Corporate Finance (10 ed.). New York: McGraw-Hill Irwin.
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Directions:In a minimum of 2-3 pages in APA format with a minimum of 3 references properly cited.
Lay out the obstacles that must be overcome to accomplish a change within your organization. Be sure to consider Change Theories as you look at the process of organizational change. What role should the multidisciplinary team play and why?
use college grammar
SAMPLE ANSWER
Change is necessary for the development of an organization and usually involves the embracing and adoption of different ideas. Although change is inevitable, there are usually obstacles to it and some of the obstacles are as follows;
Resistance to change by people within organizations as shown by the fact that most people would rather accept working in an organization that is stable rather than in an organization that is constantly under changes even if they are getting a lower pay. The main reason why people are usually resistant to change is because of the belief that change could make their life worse. Others are resistant to change because of personal reasons such as biasness towards the person initiating the change and such could be politically motivated. This resistance can be addressed by using the Kaluzny & Hernandez (1998) model of stage theory of change. According to this model, an organization should begin by creating awareness by defining what the change is all about and this will help the members of an organization to critically analyze it before criticizing and resisting the change. (John, 2014, pg 51)
Flawed communications strategies within organizations provide a barrier to change. An organization requires effective communications strategies between the employees and employers. This will help the employees understand and appreciate the change that is to be initiated. Lack of these strategies in organizations is what makes people become resistant to change since they are not fully informed and have numerous misconceptions concerning this change. The leaders of organizations should strive at creating an environment that will facilitate effective communication and this is to be achieved through adopting a social and interactive character. This can also be addressed using the Kaluzny & Hernandez (1998) model which provides a forum for effective communication in the awareness stage. (John, 2014, pg 51)
Inadequate culture-shift planning is also another barrier. This is the failure to adequately plan for resultant cultural change that follows after the process of organizational change. When planning for an organizational change, the planning team might become too narrowly focused on objective analysis and critical thinking and they might end up forgetting that this change will affect the people resulting into the overlooking of the employees’ feelings. The result will be a feeling of resentment from the employees since they will be of the idea that some traditions have not been duly respected. (Taborda, 2011, pg 59)
Lack of integration and involvement of all members of an organization provides a barrier to change. The organizational development theory of change states that for change to occur in an organization there should be the incorporation of everyone’s ideas and opinions. Everybody in the organization should also be ready to adopt and implement the strategies put forward so as to initiate this change. The Beyer & Trice (1978) model of stage theory of change states that before the initiating of a change plan, the plan and all possible responses should be critically evaluated. This cohesiveness should cut across all employees regardless of their status or position in the organization for the effectiveness of the changing process.
Complexity of changes also makes it difficult for organizations to implement changes. The more the complex a change is, the harder it becomes for an organization to embrace and implement it. It will usually require diligence, unlimited knowledge and quality skills for an organization to implement such a complex change and in many cases organizations lack these fundamental qualities making it hard to accomplish the desired change. According to the inter-organizational relations theory of change, organizations should create networks that will enable the exchanging of ideas which will help in the addressing of complex changes. (Taborda, 2011, pg 64)
For the process of organizational change to be effective, the multidisciplinary team should play a role in ensuring that the members from all disciplines work together in striving for the change. This is so because for change to occur and be effective, input from each and everyone in an organization is required. (Reib, 2012, pg 105).
References
John, H. (2014). The theory and practice of change management. London: Palgrave Macmillan. 51
Reib, M. (2012). Change management: A balanced and blended approach. Norderstedt: Books on Demand.
Taborda, L. J. (2011). Enterprise Release Management: Agile Delivery of a strategic change portfolio. Norwood: Artech House.
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John Rawls Theory of Justice as Fairness Order Instructions: Please see attachment.
John Rawls Theory of Justice as Fairness Sample Answer
Theory of Justice as Fairness
John Rawls’ theory of Justice aimed at establishing a reasoned basis for social justice in accordance with the social contract approach, which perceives members of a society as being in some form of contractual agreement.
John Rawls Theory of Justice as Fairness
On this basis is what Rawls develops his concept of justice as fairness. Accordingly, he argues that the key subject of justice is the basic societal structure and that justice is the key virtue required in social institutions. Rawls’ conception of justice consists of two major principles: the Principle of Liberty and the Principle of Equality. The latter is further divided into the Difference Principle and the Principle of Fair Equality of Opportunity. These principles require that every member of society is equally placed in a position to enjoy all basic liberties that are consistent with similar liberties for the rest of society.
1) Summarize the concept of the “original position.”
One of the basic grounds for Rawls’ argument is that parties in the original position would chose his Principles of Justice. This process involves the parties choosing the principles which they intend to use in determining the primary societal structure in which they will live.
2) Summarize the concept of the “veil of ignorance.”
The choice made by the parties which regard to the principles to govern their societal structure is made from behind a veil of ignorance. This veil of ignorance works towards depriving the parties of information concerning their certain attributes, such as their conception of The Good, their gender, social status, and ethnicity. As a result, the parties tend to choose the principles in an impartial and rational manner.
3) Apply both concepts to an issue in today’s society that you feel is important
The concepts of original position and veil of ignorance can be applied to the Medicaid program which was established with the aim of ensuring fairness in the provision of medical services across the populations in the country.
John Rawls Theory of Justice as Fairness Reference
Rawls, J. (1999) A Theory of Justice (Harvard University Press, Cambridge MA)
Response paper on Theories of Team Formation Please complete assigned readings for the week:
– Chapter 12 in Picard
Response paper on Theories of Team Formation
Questions for reflection:
– How have US consumer perceptions of global media products evolved in the past 5 years?
– What factors will influence opportunities for globalization of media in the future?
– How have your team experienced mapped to the Tuckman model – Forming, Storming,
Norming and Performing? Do you agree or disagree with the theories of team formation?
Same book as the last time:Picard, R. G. (2016). The economics and financing of media companies. New York,
Fordham University Press. ISBN: 0823232573
