Fast, global,and entrepreneurial; supply chain management , hong kong Case Study - 1

Fast, global,and entrepreneurial; supply chain management , hong kong style and interview with victor fung - Case Study Example Several changes have been done since its establishment in a bid to conform to the recent demands in the supply chain management field. Globalization has brought about increased interactions among countries in different continents. As such there has been increased focus on eliminating some of the most recurrent challenges faced during conduction of international business such as language barrier. Organizations conducting international businesses have invested deeply in overcoming language barriers among other challenges leading to elimination of intermediaries such as interpreters. During the first years of its establishment, Li Fung ripped heavily from interpretation due to the ability of its founder to speak English. However, such a role in the modern day is seemingly irrelevant hence the need to come up with other strategies to gain competitive advantage. For instance, Li Fung came shifted focus to production of full products from the entire region rather than a single product from one place. This increased relevance of the company in the supply chain since an organization could rely on Li Fung to get all necessa ry materials required at one point. This implies that organizations need to constantly come up with strategies corresponding to market changes in order to prevent elimination. However, production techniques changed once again hence Li Fung was now charged with the responsibility of managing the entire production process for its clients to come with a finished product. However, changes in economic status in Hong Kong triggered yet another shift to employment of dispersed production. This shows that market status is heavily dependent on the economy among other external factors. The changes evident in the life span of Li Fung are a clear indicator of the many changes requiring attention taking effect in the supply chain management sector. This implies that

The Gathering by Isobelle Carmody portrays the dark side of human nature Essay Example for Free

The Gathering by Isobelle Carmody portrays the dark side of human nature Essay The Gathering by Isobelle Carmody portrays the dark side of human nature. It shows that mans behaviour does not vary over long periods of time and across different cultures. It shows that each and every single person has an evil or dark side to them and it is whether they succumb to this evil or follow the paths of light and goodness that decide what kind of person they are. Cheshunt, where the story is set appears to be a fairly normal town. When Nathanial and his mother arrive, Nathanial instinctively knows that something is not quite right. Nathanial is there for a reason. He and the other members of The Chain must learn the power of friendship to defeat the evil Kraken. The dark side of human nature is seen in many characters: Cheshunts headmaster Mr Karle is a truly evil person. Although Mr Karles only role in the community is Deputy Principal of Three North, he has manipulated those who do have a major role in the community into making himself the main power over all Cheshunt. His goal is to become the ruler of the world, starting with Cheshunt. To make sure that The Chain does not defeat him, Mr Karle defeats one member at a time. Mr Karle portrays the dark side of human nature he has attained power that he then uses to control all those around him. He has become corrupted by this power and with it he is able to manipulate the other characters to perform vicious acts. Mr Karle taunts and mocks in an attempt to emotionally destroy those around him he takes pleasure in others emotional pain. He causes distress in Nathanial when he tells him of his cold hearted father who was Insanely jealous. Unstable. Violent (page 263) and how Nathanials mother learnt not to speak to anyone or smile in fear of what his father would do to her. When Mr Karle reminds Indian that his sister is brain damaged because of Indians own mistakes he does this knowing the heartache this will cause. He mocks Nissa calling her unfeminine and unattractive and how no one could love such a creature except out of pity (page 246). Mr Karle defeats one character at a time. He is physically cruel and used force to hurt them. Mr Karle embodies all that is the dark side of human nature, he is cruel both emotionally and physically Then the Kraken stepped forward and slapped her across the face. A trickle of dark blood ran from the corner of her mouth (page 249). He is corrupted by power, he is manipulative and in all this he takes pleasure. He is a true sadist. The dark side in human nature is also portrayed in many of the other characters, this is evidenced in Buddha Isobelle Carmody has used the name Buddha that represents peace and harmony and made him a killer. He burns Nathanials dog, The Tod, who is Nathanials only true friend and Nathanial loves. The match landed in his tail and flames swept forward up over him. Devoured him. He arched and coiled, yelping in pain and fright, and then he screamed, a long inhuman howl of agony and terror. (page 214). When Buddha burns The Tod it is a vicious, cowardly act and is evidence of how dark mans nature can be, that he can murder a poor, defenseless creature that is incapable of fighting back, also that the act was carried out in front of Nathanial to cause him immense grief and feelings of powerlessness. What is even more disturbing is that this is such a real act that could happen in our everyday life. How the people who are in a position to protect us and how they use this authority in a destructive way is also shown. The police, who are supposed to be good and honest are corrupt and evil. They protect the evil leaders and enforce their law, The pamphlet stuck under the door the day we arrived had welcomed us to the neighbourhood and urged my mother to join the Community Committee. It had a lot of by law information and the bit about the curfew was last. It said no one was to be out in the streets after ten at night without a specific reason. (page 20). The police either stood aside and let the people of Cheshunt be intimidated and bullied or were doing the intimidating and bullying themselves. Seth is a part of the chain that is needed to defeat the evil but Seth has given in to his dark side. He has a very weak character. Despite Seth being a brain (page 10), looking like one of those perfect guys off Coke ads (page 10) and coming from a good family, His father is a policeman (page 55) he is pathetic. He is sneaky and drinks alcohol to escape facing reality. He cant deal with his own problems (his parents are divorced and he cant deal with being in the Chain and the effort it takes to defy Mr Karle) and uses his weaknesses as an excuse to attempt to commit suicide, Seth lay on his back between them, his face dead white. (page 142) He breaks promises You promised, Nissa said icily. (page 138). He also betrays those around him Mr Karle gave Nissa a radiant smile. Got him? But you misunderstand, Nissa. I didnt get Seth. He came to us. (page 250). Nathanials father is a character who shows that mans dark side does not vary over long periods of time. Nathanials father was a violent jealous man who liked to have complete control over everything. He was jealous of Nathanial and the attention he got from his mother, especially when Nathanial was a baby I had to sometimes hold your mouth to stop the crying (page 264). Mans darkest nature was shown when his father attempted to kill Nathanial, Children should be seen and not heard, he said, and his big hands closed around my neck. And squeezed. (page 247). This is absolute evidence of innate evil that a father could try to murder his own son. In conclusion, The Gathering shows us the dark side of human nature and it is vividly portrayed. It has a realness that shows that evil is present in the past and in the future and is occurring right now, in all parts of our life. It shows that power can corrupt you and consume you absolutely. It also shows us that cruelty, deceit, jealousy and manipulation are just some of the many ways evil can be shown.

Peter The Great :: essays research papers fc

PETER THE GREAT THE REVOLUTIONARY CZAR OF RUSSIA Peter the First of Russia (more commonly known as Peter the Great) was born the son of Alexis Michailovich Romanov and Natalia Cyrilovna Narishkina on June 9, 1672 in Moscow, Russia (2:242-243). Alexis was overjoyed, and a great gingerbread cake with the double eagle was made, cannons were fired, and bells rang all over the land (4:89). But at his birth, it was not known that he would be the future czar of Russia. It was not until later on, when the czar Alexis died in 1676 at the age of 47, leaving his son Feodor (son of his first wife, Maria Miloslavsky) the heir to the throne (4:89). Feodor was slightly retarded, and therefore very fragile. Bitter rivalries went up for 6 years between the widow and ex-wife of Alexis, until Feodor died of natural causes in 1682 (4:89). It was then that a truce was made that Peter and his half-brother Ivan (also son of Maria), who was also slightly retarded, would be joint czars (4:89). He spent most of his young childhood life in the Kremlin, which he grew to hate, due to the dusky rooms, the labyrinthine corridors, and the bloody memories of terror and danger (4:89). When Peter was 10 years old, the palace guards revolted, and brutally murdered the supporters of his mother. Peter witnessed the brutal murders of Artemon Mateev, and Natalia ¹s brother on the lawn of the Kremlin. It was then that Peter, his two small sisters, and his mother withdrew to the countryhouse of Czar Alexis in the village of Preobrazhenskoe outside Moscow. They returned to the Kremlin infrequently, where Peter and Ivan sat on their double throne, flanked by 12 giant guards with battle-axes. Warily Peter listened as his clever and relentlessly ambitious older half-sister Sophia (also daughter of Maria), acting as regent, whispered instructions to him through the curtain (4:90). In the country, Peter was allowed to roam the fields and streets with the peasant boys, who were his close friends, playing soldier, and building forts on his home grounds. By the age of 12, he had learned masonry, shooting, hunting, and other games (4:90). Children from neighboring countryside’s heard of these games and soon came from Moscow with their servants to play with the young Czar. One of Peter ¹s friends brought out a young fellow named Alexander Menshikov, whom, legend says, he had met selling meat pies in Red Square.

Cognitive Biases in Entrepreneurial Strategies

The view of the human as a rational being is nowadays heavily questioned (Simon, 1959), UT in science a lot of models and theories still are based on this assumption. When looking at research on entrepreneurship, we notice that it is considered a relatively new field of study, though practice has shown that entrepreneurial activities have a great influence on the market. Schumacher (1934) already linked entrepreneurial Initiatives of Individuals to the creation and destruction of Industries, as well as to economic development.More research has been conducted about entrepreneurship, which questions the classical picture of the economic man – Homo economics – and he classical concept of rationality. This might be because the entrepreneur himself Is one of the most crucial factors of either the success or failure of an entrepreneurial business. This has caused the entrepreneur to be a hot topic and so a lot of research has been dedicated to the phenomenon. An Shame to (200 0) for example different argues that the underlying factor that causes entrepreneur knowledge. Other research has focused on the traits of entrepreneurs.In general, entrepreneurs are considered overconfident (Cooper et al. , 1988), which is a good thing if you want to start-up a company. Without this trait, start-ups would probably not take place as often as we observe (Goodness & Lecher, 2013). However, research has also showed that this overconfidence is associated with failure (Camera & Lovable, 1999). Nobel (2011) argued that although we know 30 to 40 per cent of entrepreneurial firms fail, many other are bought out or never bring expected return on investment, meaning that the real failure rate can be up to 70 or 80 per cent.Overconfidence is one of the known biases that influence human beings in decision making. There are, however, a lot of more biases which an entrepreneur can encounter. This raises the question of whether being aware example of such of the biases could help the bias, entrepreneur in his activities. If we look at the overconfidence overconfidence can lead to wrong decisions. Awareness thus, could be helpful. On the other hand, if the entrepreneur is aware of this bias he could become too careful in the decision making process. This can result in no action being taken when the ‘moment' arrives.Or it could result in the entrepreneur even deciding not to continue due to the risks being too high. This leads us to the question: 3 The following questions will help us answer the main question by shedding some eight on the biases that are out there: Theory of Bounded Rationality As mentioned in the introduction, we assume Homo economics appears to be perfectly rational and has complete knowledge, while the economic choices one makes are clandestine in the economic sphere without affecting other aspects of the individual such as emotions or being influenced by the environment.This is in line with the neoclassical economic theory that assum es full What is a cognitive bias? Why does this article address cognitive biases? What kind of cognitive biases could an entrepreneur encounter? Theory In this section the previously stated substitutions will be answered based on theory of decision-making, cognitive biases and the application to entrepreneurship. Entrepreneurship We accept the definition of entrepreneurship as suggested by Stevenson and Carillon (1990): ‘Entrepreneurship is about individuals who create opportunities through various modes of organizing, without regard to resources currently controlled. Sevens and Carillon moved away from the view of the traits school' which tried to describe how entrepreneurs differed from other people by control, leadership, or propensity for risk-taking. When studies showed that entrepreneurs are as different from one another as they are from school' non- entrepreneurs, the ‘behavioral rationality. This view has been criticized by Simon (1959) who developed an approach based on bounded rationality and problem solving. Simon stated that the assumption of full rationality is unrealistic.In his view, the rationality of individuals is limited by the information they have, the cognitive limitations of their minds and the finite amount of time they have to make decisions. The theory of bounded rationality states that individuals face uncertainty about the future and costs in acquiring information in the present. What is a cognitive bias? Biases and heuristics (mental shortcuts) are decision rules, cognitive mechanisms, and subjective opinions people use to help them making decisions. This is a deviation of the benchmark Cognitive of biases rational prevent decision-making. Individuals to accurately understand reality and interfere with the ability to be impartial, unprejudiced or objective (Goodness and Lecher, 2013). Taverns and Keenan (1974) state that people rely on ‘heuristic principles which reduce the complex tasks of assessing probabilities and predicting values to simpler Judgmental operations. There are specific and systematic biases that move the Judgment away from the perfect rationality of individuals. Argued that the process of creating a new venture, should be the fundamental part of defining someone as an entrepreneur. (Gideon, 2010).This is why we agree on the definition by Stevenson and Carillon, which also implies we will not discuss entrepreneurial traits in this article. 4 Drawing on aspects of both psychology and economics, the operating assumption of behavioral economics is that cognitive biases often prevent people from making rational decisions, despite their best efforts. Why do we focus on cognitive biases? The general opinion about entrepreneurs is that they are risk takers. However, research showed that if entrepreneurs have to choose, they prefer to take moderate risks instead of taking decisions where there is high risk involved (Keenan and Lovable, 1994).This seems a contradiction, because the decision to become an entrepreneur is statistically a highs decision since over half of new ventures fail. In a study conducted by Cooper and colleagues their (1988), 95 per cent of the The interviewed entrepreneurs venture would did not entrepreneurs were convinced succeed. Where there is a complex interplay between feelings and thoughts which have awoken intense emotions. He concludes deal with that these entrepreneurs frequently situations that are new, unpredictable and complex. What kind of cognitive biases could an entrepreneur encounter?When we look at what kind of biases an entrepreneur can encounter, it needs to be known what kind of biases exist. There are dozens of known biases but not all an entrepreneurs will meet. We would like to discuss the biases that came across the most in research of cognitive threats of entrepreneurs. Optimism bias. The decision to become an entrepreneur is a crucial step that only can be taken if the entrepreneur is feeling optimistic about the chances of success. Because the chance of failure is statistically higher than success, entrepreneurs usually have an optimism bias.As mentioned before, 95 per cent of the entrepreneurs perceive the future of their new venture as being successful, while past studies of business survival suggest poor prospects for long-term survival for most new businesses (Cooper et al. , 1988). The optimism bias makes because entrepreneurs they see perceive less risk, more everything receive the new venture as a risk and their perception, rather than objective reality, explained the decision to start a current or future venture. That is why entrepreneurs do not necessarily have a higher risk propensity than other people (Keenan and Lovable, 1994).They simply perceive existing risks smaller than they are which shows that entrepreneurs are biased. Baron (2004) suggests that entrepreneurs are more often exposed to situations that test the limits of their cognitive capacities than other people. This i ncreases their susceptibility to various forms of bias or error. Baron argued that biases occur more frequently when individuals are confronted with more information than they can process at a given time, they face situations that are new to them and involve high degrees of uncertainty, and optimistically.In ‘The Evolution of Cognitive Bias', (2005) Hasten, Nettle, and Andrews state that where biases exist individuals draw inferences or adopt beliefs where the evidence for doing so in a logically sound manner is either insufficient or absent. In the case of 5 entrepreneurs however, we see that even if logical sound manner is sufficient still an entrepreneur can be biased. In the experiment by Cooper and colleagues (1988) 95 percent of the entrepreneurs was thinking that their venture would be a success, disappear when they knew about the objective chances.Business and Barney (1997) have stated that the optimism bias of an entrepreneur could also influence the stakeholders arou nd them as well. If the stakeholders wait until they attain all additional information, the opportunity they seek to exploit could be gone by the time this data is available. This means that the optimism bias of an entrepreneur can even overrule the rationality of other persons involved. Illusion of control The illusion of control gives the entrepreneur a sense of control that increases the likelihood of them acting on an opportunity, but at the same time it may blind them to genuine risks. Simon et al. 2000) The illusion of control states that decision makers often overestimate the personal control they have over the outcomes. This type of bias influences the ability for decision makers to actually make a decision. This could also be the reason many entrepreneurs fail even though they thought they had made a right decision. Belief in the Law of Small Numbers The belief in the law of small numbers is the use small off limited sample of to draw rim are conclusions. The bias makes peo ple believe samples information representative of the entire population from Overconfidence bias.Overconfidence refers to an unwarranted, high level of confidence (Forester and Scratchy, 2007). It is interesting that overconfidence can only be determined in retrospect, after an evaluation of knowledge, predictions and outcomes. Therefore, it will be difficult to notice beforehand if an entrepreneur is dealing with an overconfidence bias. Because of overconfidence, people do not take into account other factors and information that they need for decision-making. Goodness and Lecher optimism (2013), bias and argued distrust. Hat They the overconfidence bias is influenced by both the see overconfidence as a central theme in the failure of entrepreneurial firms with its effects magnified in combination with other cognitive biases. Which they are drawn (Simon et al, 2000). Simon and Houghton (2002) argued that belief in the law of small numbers may explain why entrepreneurs often overesti mate demand. The success of a small number of people in their own environment can make entrepreneurs think that they will also be successful, while the objective probability of success may be very low.Business and Barney (1997) mint out that entrepreneurs often use biased samples from a small number of friends or potential customers. Decision-makers versus Entrepreneurs Business and Barney mentioned that entrepreneurs are influenced by the sorts of cognitive biases that we all as individuals encounter (1997). However, they found that the extent to which people deviate from rational thinking may not be constant and that different individuals may utilize biases and heuristics to different degrees.They argued, and Baron (2004) agrees, that entrepreneurs in general are more susceptible to the use of biases and heuristics in decision-making. For entrepreneurs, the level of uncertainty in making decisions is higher than for general decision-makers (Humpback and Cozier, 1985; Covina and Sl iven, 1989). Also, general managers can approximate the rational ideal more closely because they usually have access to historical trends and past performance, while entrepreneurs do not. Several studies (Covina and Sliven, 1991; Garner et al. 992; Miller and Ferries, 1984) have shown that the context faced in decommissioning by entrepreneurs tends to be more complex than the context faced by managers. Pitfalls, biases and heuristics are likely to have more utility in hose highly complex decision settings faced by entrepreneurs, compared to the less complex context that managers face (Business and Barney, 1997). We find that entrepreneurs in general encounter, and until now no attempt has been done in making such a list. Simon et al. (2000) did make a selection in their research towards risk perception and the start of a new venture.They selected three biases that may lower risk perception when starting a new venture. Their research focused on the overconfidence bias, the illusion o f control and the belief in small numbers (see table 3). In their research optimism did not have a significant relationship with the decision to start a new venture, therefore they left this bias out of the model. Striking is that they left optimism out of their model, because they found a lack of significant relationship between optimism and the decision to start a venture.They mentioned however that other studies did encounter optimism affecting both cognition and behavior and explain that their outcome may have occurred because their survey measured optimism in a specific context. Further research on at least the optimism bias therefore is necessary. What influence can biases have on the success or failure of an entrepreneurial firm? Biases can have great impact on the success or failure of a company. Goodness and Lecher (2013) argued that their research shows that overconfidence can lead to disastrous effects in the entrepreneurial domain.In fact, they even found a strong relati onship between overconfidence and company failure, especially if overconfidence was linked with other biases. Also they found that optimism bias has a negative effect on firm survival, strengthening arguments on low risk perception and resultant propensity to fail. However optimism bias also acted positively on opportunity orientation. This is an important encounter more biases than other types of decision-makers, but no specific research has been done on framing the most common biases faced by entrepreneurs.In the field of strategic decision-making however, Hogwash described the 29 most common separate biases (1980). The ones that he considered most likely to affect strategic decisions are listed in table 1. An overview like this is missing in the field of entrepreneurship. One reason for this might be that most entrepreneurship common biases is hard to frame. Previous research did not mention a list of the that 7 finding, as one of the important aspects of entrepreneurship is find ing opportunities. Effective decision-making by entrepreneurs with respect to actions involving risk could play an important role in the success of new ventures.Empirical findings in literature about entrepreneurship offer support for the possibility that successful entrepreneurs are more effective at this task. Simon et al. (2000) found that effectiveness at decision making is an important factor in the performance of new ventures. Lovable and Keenan (1993) prescribed corrective measures to overcome the biases and achieve optimal behavior in every situation. Also Russo and Shoemaker (1989) reasoned that decision biases can be corrected through training.They have indicated that every decision-maker must, consciously or unconsciously, go through each phase of the decision-making process. They have stated ten most common barriers that entrepreneurs encounter in making good decisions. These barriers show resemblance with the biases described by Hogwash (1980). The availability bias, â €˜Judgments of probability of clearheadedly events are distorted', can be linked to the trusting shortsighted the most shortcuts, readily ‘relying or inappropriately on rules of thumb such as information anchoring too much on invention facts'.Both of them trust the most readily available information and thus the Judgment of probability may be distorted. Conservatism, which is the failure to sufficiently revise forecasts based on new information, can be linked to fooling ourselves about feedback, since in both cases the feedback will not be taken into account when forecasting new decisions, which can also emerge from being overconfident in making a Judgment. Russo and Shoemaker (1989) indicated that good decision-making can be broken down into four main elements: (1) framing; (2) gathering intelligence; (3) coming to a conclusion; (4) learning from feedback.Entrepreneurs have to keep track of what they expected to happen while guarding and against Lecher self-serving (2013) also explanations. Goodness agreed with the effectiveness of training on biases. They stated that for example the training of unrealistic optimists should stimulate the motivation to manage finances, to take advice, not to leave matters up to chance, and to understand the value of healthy distrust in oneself and others in non-routine situations.However, they also warned that training programs for entrepreneurs are not always a good idea. If it was not for the cognitive biases, start-ups would not occur as often as we observe now. Their advice for entrepreneurs is to balance the organization with people that are aware of these biases and can correct the entrepreneur where necessary. As well, Taverns and Keenan (1974) do not consider the biases as something that always should be eliminated.They argued that under conditions of environmental uncertainty and complexity, biases and heuristics sometimes also can be an effective and efficient guide to decision-making, simply because in such settings comprehensive and cautious decommissioning is not always possible. They state that biases and heuristics may even provide an effective way to Training When a bias causes harm, it is of critical importance that it can be addressed properly. Errors in decision-making can be extremely costs at not only the personal but also at the professional and societal level.As this article indicates, there does not seem to be an easy fix. Building further upon his previous work, Fishhook (1982) reviewed four strategies for reducing bias: (1) warning subjects about the potential for bias, (2) describing the likely direction of bias, (3) illustrating bias to the subject, and (4) providing extended training, feedback, coaching and other interventions. Fishhook concluded that these first three strategies yielded limited success, and that ‘even intensive, personalized feedback and training produced only moderate improvements in decision making. This model, derived from Wilson and Breake r (1994), shows how Judgmental biases are created and how they can be reduced. Awareness should first be created, there must be motivation to correct this bias and the direction and magnitude of the bias should be understood. As a final step, the bias should be removed or countered. But what is interesting is to see which techniques can be used to mitigate the bias of concern. We believe this can be done by applying a counter bias or by structuring the decision-making process.If decision makers rely less on intuition and emotion when making a decision, and more on deliberate and structured thinking processes, a decision can be made which approximates rationality. Analysis A list of the most common biases among decision-makers (note this it is not a list of the most common among entrepreneurs) have been framed earlier in this paper by Hogwash (1980). It is known that entrepreneurs are more susceptible to the effects of biases, but it is doubtful whether the most important biases for decision-makers are also the most important ones for entrepreneurs.The optimism bias and overconfidence decision-makers, bias do not appear on in the Hogwash's list of most common biases for while research cognitive biases of entrepreneurs mentions them often. The problem with making an analysis on the cognitive biases that entrepreneurs encounter is that there is no such a list of most common biases among entrepreneurs. Earlier in this paper, we accepted the definition by Stevenson and is Carillon several to (1990) modes that of entrepreneurship opportunities organizing without about creating resources through rage rd currently controlled.This made us not look at the traits of an entrepreneur, but at the processes of decision-making and biases that can occur. There are biases that every person encounters, but there are certain biases that have a more effect on decision-making but also have to be aware of different sorts of biases that can influence their perception of the world. Th is can be of great influence on the future of their new ventures. As Abide (1994) argued, there are three critical elements of successful entrepreneurial approaches.Entrepreneurs 9 have to screen opportunities quickly to weed out unpromising ventures, they have to analyze ideas in which they focus on new important issues and they have to integrate taking action and analysis. His most important conclusion is that entrepreneurs must reflect on the adequacy of their ideas and their capacities to execute them. This comes back to what we are addressing in this article. Can entrepreneurs be aware of adequacy of their ideas? And is it recommendable to create this awareness among entrepreneurs?To be able to have a better perception of the world and thus be better capable of reflecting and making decisions, biases are of great importance. Hen reflecting on the environment of the new venture and when making decisions based upon those reflections. Training programs to become aware of bias do e xist. Russo and Shoemaker (1989) proposed a training system in which good decision- making can be broken down into four main elements. In each element the person involved is encouraged to take the different barriers (table 2) into account so that he or she is guarded against silvering explanations.However, Goodness and Lecher (2013) argued that when entrepreneur are aware of biases, probably less start-ups will be realized. They advise that not the entrepreneurs will follow a raining program, biases. But rather people around the entrepreneur should be aware of existing Conclusion Although there are frameworks of individual cognitive biases in the literature of decision making, like the barriers by Hogwash (1980), there is no clear framework which cognitive biases entrepreneurs commonly encounter and how and if the effects of these biases should be reduced.The biases studied showed however that they can have big influence on the success or failure of a new venture. Goodness and Leche r (2013) found a strong relationship between overconfidence and company failure. Also positive biases strengthen low risk reception and increased the chance of failure. On the other hand, a positive bias in the startup phase of the company could be of great help because it strengthens the entrepreneur in motivation and opportunity finding.If entrepreneurs are aware of their biases, they could take this knowledge into consideration Taverns and Keenan (1974) pointed at the fact that not always should be eliminated. Under conditions of environmental uncertainty and in complexity, biases and simply heuristics because sometimes also can be effective and efficient decision-making, comprehensive and cautious decision-making is not always possible. Being aware of cognitive biases contributes towards obtaining optimal behavior in every situation.However, when we want to answer the question if awareness helps entrepreneurial firms perform better we would like to advise to also create awarenes s among the people around the entrepreneur and not the entrepreneur himself. The bias of an entrepreneur can be crucial in the start-up of a company and the motivation of other people. However, when a bias is harmful people around him can undertake action to 10 eliminate this bias and therefore reduce the chance of a company's failure. As a radical note we would like to mention that research on biases that an entrepreneur can encounter still has not been done.

Several Kinds of English that I Speak of

My family and I lived in several places and so as we move from one place to another, I have learned to speak several kinds of the English language as well.For instance, I am a little familiar with West Indian English, wherein one of the major characteristics of their grammar is the absence of â€Å"-s† if its state is singular and is in the present tense, and so sometimes instead of stating â€Å"Cleavon loves music†, I would only say, â€Å"Cleavon love music†Ã‚   (Oxford University Press, 2008, n.p.).In addition to that, another grammatical characteristic of the West Indian English is the elimination of the word that connects the subject and the predicate or what is technically referred to as the â€Å"copula† (Oxford University Press, 2008, n.p.). For example, â€Å"Cleavon extremely passionate†, instead of â€Å"Cleavon is extremely passionate† or â€Å"Cleavon my cousin† instead of â€Å"Cleavon is my cousin† (Oxford Univer sity Press, 2008, n.p.).Furthermore, when we moved to Canada and stayed there for about two years, I managed to acquire a little bit of Canadian English as well which is sometimes evident in the way I pronounce words, for example, my classmates would be confused even if I meant â€Å"caller† because what they heard from me was â€Å"collar† (Oxford University Press, 2008, n.p.). Similarly, if I say â€Å"caught†, they would misunderstand it since it sounded like â€Å"cot† (Oxford University Press, 2008, n.p.). I also got the nanny confused one time when I said, â€Å"May I please just have porridge for breakfast?† I forgot that in U.S. English, it is known as, â€Å"oatmeal† (Oxford University Press, 2008, n.p.).Last but not least, since we now moved back to the United States, my U.S. English is back as well (Oxford University Press, 2008, n.p.). Nowadays, I would jokingly say â€Å"My seatmate is such a nerd; she would spend three sleeple ss nights for our science project and would not even complain a bit† (Oxford University Press, 2008, n.p.). Nobody would be confused by my statement since this is the Standard English that they utilize also (Oxford University Press, 2008, n.p.).ReferenceOxford University Press. (2008). Types of World English.Retrieved April 7, 2008 fromhttp://www.askoxford.com/globalenglish/types/?view=uk

Georges Guynemer - World War I Flying Ace

Georges Guynemer - World War I Flying Ace Georges Guynemer - Early Life: Born on December 24, 1894, Georges Guynemer was the son of a wealthy family from Compià ¨gne. A frail and sickly child, Guynemer was schooled at home until age fourteen when he was enrolled in the Lycà ©e de Compià ¨gne. A driven student, Guynemer was not adept at sports, but did show great proficiency at target shooting. Visiting the Panhard automotive factory as a child, he developed a keen interest in mechanics, though his true passion became aviation after flying for the first time in 1911. At school, he continued to excel and passed his exams with high honors in 1912. As in the past, his health soon began to fail, and Guynemers parents took him to the south of France to recover. By the time he had regained his strength, World War I had broken out. Immediately applying to the Aviation Militaire (French Air Service), Guynemer was rejected due to his health issues. Not to be deterred, he finally passed the medical examination on the fourth attempt after his father intervened on his behalf. Assigned to Pau as a mechanic on November 23, 1914, Guynemer routinely pressed his superiors to allow him to take flight training. Georges Guynemer - Taking Flight: Guynemers persistence finally paid off and he was sent to flight school in March 1915. While in training he was known for his dedication to mastering his aircrafts controls and instruments, as well as repeatedly practicing maneuvers. Graduating, he was promoted to corporal on May 8, and assigned to Escadrille MS.3 at Vauciennes. Flying a Morane-Saulnier L two-seat monoplane, Guynemer took off on his first mission on June 10 with Private Jean Guerder as his observer. On July 19, Guynemer and Gueder scored their first victory when they downed a German Aviatik and received the Mà ©daille Militaire. Georges Guynemer - Becoming an Ace: Transitioning to the Nieuport 10 and then the Nieuport 11, Guynemer continued to have success and became an ace on February 3, 1916, when he downed two German aircraft. Dubbing his aircraft Le Vieux Charles (Old Charles) in reference to a well-liked former member of the squadron, Guynemer was wounded in the arm and face on March 13 by fragments of his windscreen. Sent home to recover, he was promoted to second lieutenant on April 12. Returning to action in mid-1916, he was given a new Nieuport 17. Picking up where he left off, he raised his tally to 14 by late August. In early September, Guynemers squadron, by now redesignated Escadrille N.3, became one of the first units to get the new SPAD VII fighter. Immediately taking to the aircraft, Guynemer downed an Aviatik C.II over Hyencourt two days after receiving his new fighter. On September 23, he downed two more enemy aircraft (plus an unconfirmed third), but was struck by friendly anti-aircraft fire while returning to base. Forced to make a crash landing, he credited the SPADs sturdiness for saving him on impact. All told, Guynemer was downed seven times during his career. An ace of considerable renown, Guynemer used his position to work with SPAD on improving their fighters. This led to refinements in the SPAD VII and the development of its successor the SPAD XIII. Guynemer also suggested altering the SPAD VII to accommodate a cannon. The result was the SPAD XII, a larger version of the VII, which featured a 37mm cannon firing through the propeller shaft. While SPAD finished the XII, Guynemer continued flying over the trenches with great success. Promoted to lieutenant on December 31, 1916, he finished the year with 25 kills. Fighting on through the spring, Guynemer managed a triple kill on March 16, before bettering this feat with a quadruple kill on May 25. That June, Guynemer engaged the famous ace Ernst Udet, but let him go in a sign of knightly chivalry when the Germans guns jammed. In July, Guynemer finally received his SPAD XII. Dubbing the cannon-equipped fighter his Magic Machine, he scored two confirmed kills with the 37mm cannon. Taking a few days to visit his family that month, he rebuffed his fathers pleas to move into a training position with the Aviation Militaire. Georges Guynemer - National Hero: Scoring his 50th kill on July 28, Guynemer became the toast of France and a national hero. Despite his success in the SPAD XII, he abandoned it for the SPAD XIII in August and resumed his aerial success scoring a victory on the 20th. His 53rd overall, it was to be his last. Taking off on September 11, Guynemer and Sub-Lieutenant Benjamin Bozon-Verduraz attacked a German two-seater northeast of Ypres. After diving on the enemy, Bozon-Verduraz spotted a flight of eight German fighters. Evading them, he went in search of Guynemer, but never found him. Returning to the airfield, he asked if Guynemer had returned but was told that he had not. Listed as missing in action for a month, Guynemers death was finally confirmed by the Germans who stated that a sergeant in the 413th Regiment found and identified the pilots body. His remains were never recovered as an artillery barrage forced the Germans back and destroyed the crash site. The sergeant reported that Guynemer had been shot in the head and that his leg was broken. Lieutenant Kurt Wissemann of Jasta 3 was officially credited with bringing down the French ace. Guynemers total of 53 kills allowed him to finish as Frances second-highest scoring ace of World War I behind Renà © Fonck who downed 75 enemy aircraft. Selected Sources First World War: Georges GuynemerAce Pilots: Georges GuynemerHistorynet: Georges Guynemer

Political Developments of Pakistan 1947-2006 Essays

Political Developments of Pakistan 1947-2006 Essays Political Developments of Pakistan 1947-2006 Essay Political Developments of Pakistan 1947-2006 Essay Pakistan came into being in 14th August, 1947 after a long struggle of the Muslims of the subcontinent under the platform of All India Muslim League. Since her birth Pakistan has been ruled by various leaders both civilian and military and has experienced different governing systems. This paper will discuss the 59 year developments of the country and the leaders who took part in these developments and the leaders who reacted to these developments. The paper will also identify the two most effective leaders of Pakistan.Early Post-Independence Period:The early post-independence period of Pakistan is marked by political instability and loss of leadership. The founder of the Nation and the first governor general Mohammad Ali Jinnah died a year later in September, 1948, but his firm standing for making Urdu the sole national language of the country has already sparked anger in East Pakistan. Liaqat Ali Khan his successor tried to draft a constitution but was assassinated in 1951.   Kwaj ah Nazimuddin became his successor while Gulam Muhammad became the governor-general. The Constitutional Assembly tried to balance the power by taking some executive powers from the governor-general, but the governor-general dissolved the assembly and two generals Iskander Mirza and Mohammad Ayub Khan were introduced in the prime minister’s cabinet.In 1955 Iskander Mirza replaced Ghulam Muhammad as governor-general. The new Prime Minister Chaudhry Mohammad Ali finally convinced the politicians to agree on the constitutional draft which was officially sanctioned in February, 1956. The same year Prime Minister Chaudhry Mohammad Ali was forced to resign when he lost majority in the assembly because of a revolt against him by his Muslim League parliamentarians. Suhrawardy then attained office as a successor of Mohammad Ali but soon President Iskander Mirza suspended the constitution and a dispute over the constitution forced Suhrawardy to resign.First Military Government:Dissatisf ied by the politicians and the working of the democracy in 1958 President Iskander Mirza announced the abolition of political parties and the abrogation of the constitution. He announced that the country is under martial law and General Mohammad Ayub Khan is the Chief Martial Law administrator. Later Ayub Khan assumed the post of prime minister while three generals were entitled for ministries in the cabinet. Among the 8 civilian members of the cabinet Zulfikar Ali Bhutto was also introduced for the first time. 20 days later the President was deposed in coup led by the Chief Martial Law administrator General Mohammad Ayub Khan and exiled to London, while Ayub Khan himself assumed the presidency. Martial Law remained sanctioned for almost two years after that Ayub Khan drafted a new constitution in 1962 and introduced basic democracy and local unit administration through out the country. The basic democrats elected him himself president. Ayub Khan did some remarkable reforms both eco nomical and social, which not only boosted the economy of the country but also helped in reshaping the future social structure of the country. Outlawing polygamy is one of these examples. Ayub Khan was the person who launched the skirmishes against India in order to take the Indian army in Kashmir under siege, which resulted in the 1965 Indo-Pakistan war. After the Ayub defeated Fatimah Jinnah in the elections but faced challenges in 1968. After an unsuccessful attempt to assassinate him he accused his former foreign minister Zulfikar Ali Bhutto of manipulating the plot. He also arrested Awami Leagues leader Mujibur Rahman. Amid widespread protest and strikes he resigned in March 1969. He transferred power to General Agha Mohammad Yahya Khan who immediately imposed martial law and also assumed the post of president.The Civil War:In 1970 the general elections were held and surprisingly the Awami League led by Mujibur Rahman won by absolute majority in the East Pakistan gaining majori ty in the country as well while the Bhutto’s PPP won by majority in West Pakistan. Bhutto and Yahya refused to transfer power to Mujib and he subsequently demanded absolute autonomy. Yahya Khan used military force to restore order in East Pakistan which crushed the Bengalis brutally thus giving the Indian army a justification to intervene after a short interval of fighting the Pakistani forces in the East Pakistan surrendered to them.Yahya Khan resigned after the war and Bhutto became the Prime minister of the country. He introduced the third constitution of the nation in 1973. But his autocracies led to further disturbances and after the 1977 elections wide spread protest sparked through out the country accusing him of poll rigging. He was ousted in a military coup led by General Zia ul-Haq and was executed on allegation of murdering an opposition politician. Zia ul-Haq introduced several Islamic reforms in the country. Under his premiership the country played a pivotal role in afghan soviet war. He lifted martial law in 1985 and handpicked Mohammad Khan Junejo as the prime minister. In the later 80s ethnic violence erupted in the urban areas of Sindh and Zia is accused of using the ethnic sentiment in the region to reduce the popularity of PPP in Sindh. In 1988 he dissolved the assembly and proclaimed that the new elections will be held in November.Post Zia Democratic Rulers:But Zia was killed in a plane crash and in the new elections Benazir Bhutto the daughter of Zulfiqar Ali Bhutto win with majority and assumed the office. She was ousted after governing for only 20 months and in the new elections Mohammad Nawaz Sharif succeeded her. But President Ghulam Ishaq Khan dismissed him three years later with allegations of corruption and dissolved the assembly. Benazir won back again in the elections but she was again dismissed by her own elected president and in the 1997 elections Nawaz Sharif assumed the office with two third majority. With such power he made amendments in the constitution taking the power of the president to dismiss the government as well as he also forced an army chief and Supreme Court chief justice to resign. In response to Indian nuclear tests Nawaz Sharif also detonated Pakistani nuclear bombs. His attempt to depose the Army Chief in 1999 failed and General Musharaf ousted his regime and arrested him on charges of traison. He was later sent in exile to Saudia Arabia.Musharraf’s Regime:President Musharaf later assumed the post of president after winning in the nation wide referendum. He held elections in 2002 where his favorite PMLQ won majority and formed government. Jamali was elected Prime Minister but later the finance minister Shaukat Aziz took the post. Musharaf has taken several measures to curb violence and religious extremism throughout the country. His support to U.S. led war against terror has sparked anger among many of Pakistani religious people. He is still facing violence and trouble in W aziristan region.Ayub Khan and Zulfikar Ali Bhutto are the two most effective leaders of Pakistan as Ayub led the country’s economy to a boost while Bhutto drafted the current constitution of Pakistan and his political legacy is still one the most powerful political forces of the country.