Management-Principle Source of Competitive Advantage-Myassignment

Question: Discuss with reference to appropriate literature sources, the extent to which the creation, sharing and utilization of knowledge is central to this resource based view of competitive advantage. Answer: Introduction Globalisation and technological advent has led to creation, sharing and utilization of knowledge is key to resource based approach to competitive advantage(Dasgupta, 2009). Developing sustainable competitive advantage for organization is bent on exploration and development of core competency. Analysing resource-based-view (RBV) for organizations explains strategic assets for it being valuable, rare, non-substitutable and imperfectly imitable. The current era of knowledge is variant rendering new dimension to businesses. In the knowledge-era quickness has been considered as a key factor that provides success to organizations. The dimension of knowledge management (KM) is impacted dramatically and continuously spreading across organizations(Easterby?Smith, 2009). As knowledge increases at faster rate, businesses have tend to realize increasing importance of intangible assets. Sustainable business advantages is built on developing stakeholder relationships, brands, culture and reputatio n. In financial and professional services especially, intangible assets leveraging and development can create core competency. Processing of knowledge is central to knowledge-intensive organizations for their business success. Various prominent researchers and scholars in the domain establishes that knowledge as being integral factor in competitive advantage(Ambrosini, 2009). In world of global economy, success arises form efficient and fast exchange of information. There has been a shift in competitive advantage from physical assets to intellectual capital. The current scope of the essay analyses Dasgupta and Gupta (2009) view, The increasing turbulence in the external business environment has focused attention on the resources and organizational capabilities as the principal source of competitive advantage. Literature Review Analysis of relevant literatures is critical for understanding trends around organisation with growing importance of knowledge in creation of core competency. The following literatures have been identified as being crucial contributing to the key concept in this analysis. Scott L. Newbert (2008) article, Value, rareness, competitive advantage, and performance: a conceptual?level empirical investigation of the resource?based view of the firm. In the Strategic management journal, pages 745 to 768(Newbert, 2008). The resource based view of the firm states that an organization comprise of a pool of capabilities and resources, their discrepancies indistribution and size and competitveness arises from their distinctive capabilities to develop and organize capabilities by application of value-increasign methodologies. The primiary scope of this article recognises knowledge as being a startegic asset fo the firm that can hep create a sustainable advnatage for the firm. Grant (1995, 1996)and Penrose (1959) extended the approach to integrate dimensions of knowledge. Knowledge is in turn integrated with four primary mechanisms of coordiantions as sequencing, rules and directives, routines and group problem solving and decision making. Another important article in the domain of analysing external conditions is Jay B. Barney and N. Clark Delwyn (2007) article, Resource-based theory: Creating and sustaining competitive advantage. In the Oxford University Press on Demand(Barney, 2007). The scope of this article analyses the critical aspects of external business environemnt that pressurises a firm to develop its knowledge bases. While a firm operates within the industry it is faced with divregent number of threats and opportunities from external business environemnt as political, economic, social, technological, legal and environemntal factors. While each of these might contriute separately towards startegic decisions taken by the firm, they are the factors that contribute in key decisions taken. A firm might have several resources and capabilities but extending them all at the same time might not benefit the firm. On the contrary, the firm needs to continuously evaluate and understand the potential impacts such external environmental factors caused on the firm in order to develop strategies. Key to strategy development lies at the centre of the firm being capable to analyse which resources and capabilities to apply first and derive advantage at that position in the market. Therefore, the scope of this literature is effective in developing and analysing factors that are critical to evaluating and sharing of knowledge that are critically needed for a firm. Therefore, it canbe said that knowledge is of startegic importance to the firm. A pertinent literature dominant in the field of creation and sharing of knowledge is capabilities to evaluate knowledge is Ragna Seidler-de Alwis and Evi Hartmann (2008) article, The use of tacit knowledge within innovative companies: knowledge management in innovative enterprises. In the Journal of knowledge Management, pages 133 to 147(Seidler-de Alwis, 2008). The scope of this article evaluates scopes pertaining to ways in which various theories are evaluated for evaluation of knowledge. Spender (1996) proposed that a firms capability and knowledge in order to create exclussive knowledge is the centre most atatrction for any type of firm. Supporting this theory is Grant (1996) proposing that knowledge has tremendous potential of being a competitive assets for any firm. This article evaluates the possible scope of knowledge management (KM) and its research to render competitive advnatages to firm. Therefore, specific models relating to the development and application of KM that can be a source of competitive advantage was analysed. The scope of this essay was based on discussion by Meeta Dasgupta and R. K. Gupta (2009) article, Innovation in organizations: A review of the role of organizational learning and knowledge management. In the Global Business Review, pages 203 to 224(Dasgupta, 2009). This article proposed that knowledge has capabilities to deal with external business environemnt within the firm. This article evaluates contemporary globalisation trends in 21st century will be attained with extenssion of scopes of knowledge management. Large corporations have become aware reagrdign the applicability that knowledge can render to their organization and in deliverying competitiveness. Therefore the scope of this article focusses discussion primarily on ways that knowledge application can provide competitive advanatge. Analysis Resource based view of competitive advantage states that creation, sharing and utilization of knowledge is essential(Newbert, 2008). Resource based view an economic factor allows determination of strategic resources of a firm. These resources are exploited for retention of sustainable competitive advantage to extend core competency. Firms within industry needs to have knowledge regarding various happening and aspects that is happening around the industry, for determining key resources that are valuable. Rare or imperfectly imitable or non-substitute product or service knowledge within the industry can be used into creating something unique. Knowledge regarding resources, which can comprise of capabilities, assets, processes, knowledge, information and attributes can help firm create and implement strategies. These strategies in turn allow the firms to render effectiveness and efficiency into their businesses. Overall it allows implementation of strategies, through which a firm might be able to create competitive advantage(Barney, 2007). In turbulent times within the industry knowledge creation, sharing or utilization regarding resources as well as organisational capabilities might lead to core competency that is difficult to overshadow. Creating knowledge that can be uniquely matched to organisational capabilities or able to organize firms competency can lead to determination of a leading position in the market. Further sharing of such knowledge within organisation can enhance creation of more knowledge inputs that goes towards creation of products and services that are unique or rare in nature. When all such knowledge regarding organisational resources and capabilities are utilized, it leads to the creation of an unique offering which might render competitive advantage for the firm. Knowledge becoming a significant factor for rendering efficiency and catering to competitive advantage, there needs to evaluation done on its roles(Leonidou, 2011). Most importantly ways in which knowledge application are entailed are in its creativity. Facilitating innovations across organization can lead to enhancement of competencies in private, public or not-for-profit firms. Managing knowledge has been found to be key to organizations survival for dealing with external business environment. Organizations can only extend their competitiveness in the industry, which has now expanded to include global perspectives by way of assimilating knowledge. In order to create, manage and exchange intellectual assets of organization, role of knowledge has to be accepted. Knowledge can be represented as a convergence of ideas from core competencies along with resource-based theories of firm. Knowledge can be applied across broad range of strategies for understanding related to cultures, commun ity, learning, collaboration, technology and expertise(Kedia, 2009). The key for corporate success in contemporary competitive environment is to recognize and then sustain competitive advantage. Porter (1999) defined that ascertaining competitive advantage is to make sure what to do and what not to do. Therefore, in order to derive returns from investments consistently, it becomes imperative that firms implements their value creation strategy, which are not simultaneous with any other competitors. In order to derive sustainable competitive advantage, it becomes necessary that exceptional level of performance implementing value-enhancement strategy is applied. Such strategies are not possible to reduce by competitors as they are incapable of reproducing value gained from such strategy. Valued strategy can only arise from sustainable competitive advantage derived from strategic assets(Ardichvili, 2008). On the other hand, through industry analysis, organizational governance and firms effect on resources, it is possible to attain competitive advantage. Strategic management literature has since a long time dominated resource-based-view. Literatures have been used to understand and explain reasons that firms vary and ways in which such matters. Resource-based-view focuses on firm as being potential creators of value-added capabilities having organizational competencies, entailing assets along with resources from knowledge-based aspect. The view idealizes capability of firm inability to copy as being key to generate potential returns as well as in achievement of superior performances. An organizations resources consists of assets that might both be tangible as well as intangible in nature, comprising of human and nonhumans, possessed by the firm for enhancing is value-based strategy(Barreto, 2010). Capabilities and resources that are uncommon, valuable, non-substitutable and poorly imitable can render long-term competitive advantage. Such advantages can only be generated through knowledge creation and expansion. Knowledge can be categorised as an intangible resource that possesses more capabilities compared to tangible resources for creation of competitive advantages. This type of advantage cannot be generated overnight and requires longer period of time to be applied. Barney (1991) proposed that resources that are controlled by a firm allows it to develop and implement strategies. He formed the VRIO framework for analysing resources that have capabilities to create competitive advantage. However, the basis of the framework was focused on a firms capability to gen erate knowledge and apply it with its present capabilities and resources(Kiessling, 2009). An ideal example to the situation would include, an organization based in Turkey, who is aware regarding its financial situation and also has knowledge regarding Brexit, will design its tourism products accordingly. Meaning, the firm having knowledge regarding the possible impact that Brexit could have on its product is more likely to lower prices and clear stocks compared to a firm having no knowledge at all regarding Brexit and its own financial position. Therefore, it can be said that a firm is able to make use of knowledge to take decisions more prudently, which in turn makes it more competitive in the industry. A consumer when offered with similar product qualities from both firms is more likely to select the one with lower price compared to the one offering higher price. Thus, competitiveness of first firm to cater to industry demands is better, therefore it has been able to make effecti ve use of knowledge in making appropriate strategic decision regarding pricing. One profound researches of Graham and Pizzo (1996) proposed a framework which allowed to position companies for management of knowledge in order to understand competitive advantage(Du Plessis, 2007). Their works identified four independent and dynamic elements within closed loop system which aims at balancing organizational domains and fluid for strategic flexibility and operations efficiency. Knowledge is a concept from fluid domain that originates and grows from individual intuition, improvisations and personal networks. Whereas in organizational domain, there are three elements are identification of strategic business drivers, application of knowledge interrelationships and core, application of discipline and monitoring with rebalancing. In all domains with this framework, knowledge including tangible and intangible assets in cultures and values, technology, people and business capabilities is determined. In business it needs to be ascertained places where knowledge exists and way s it exists for further constructions. Through value chain applicability, knowledge movement through formal and informal sides is ascertained. Therefore, there needs to be highly centralized focus along with consideration of variables for disseminating of knowledge. Researchers in the area has been able to establish that knowledge can render sustainable competitive advantage by value addition to existing resources and capabilities. therefore, apart from innovating easy and methods in knowledge for application of resources and capabilities there needs to be utilization of such knowledge as well. That is to say, mere creation of knowledge can be entailed by analysing and understanding several existing variables in the external business environment. It is only when data or information which has capabilities to turn into valuable knowledge in assimilated that it can have capabilities to value-add to the firm ultimately. Sharing of such knowledge gained with all departments of managerial sections can help in identification of such competencies. While dealing with products or services, identifying particular areas where knowledge gathered can be applied, is done using knowledge sharing techniques. With sharing of knowledge, it is possible that all departments are able to brainstorm and create or generate ideas further that can contribute towards innovation(Wang, 2012). Thus, the field of knowledge in contribution towards a firms competitive advantage is interrelated. Once, an idea or concept is generated then it is possible with application of such ideas or utilization of the same to yield valuable output. Value addition or outcome has to be generated for generation of final positive outcome of effect for the firm. The outcome with assimilation of knowledge is then extended across to the industry that decides position of the firm I n the industry. Several models for management of knowledge that connects firms internal resources to be fed with information has been developed. Such systems gather extensive data and information then processing them into knowledge to yield valuable output. Thus, researchers have been effectively able to connect strategic perspective of managing knowledge by way of its creation, utilization and sharing of information(Lichtenthaler, 2009). Though published instrument or measurement does not yet exists in this regard for application of organizational information. There are communication instruments but there effectiveness has not yet been measured. Most researches have empirically established facts that have supported previous arguments creating instruments for measuring them. Models for practioner needs to include more divergent aspects connect domain of strategic advantage with that of managing knowledge. Competitive advantage becoming an increasingly important domain with rising business complexity in globalized world, more domains has to be included in management of knowledge. Thus, researchers needs to build a model that is able to integrate competitive advantage with that of knowledge and external business environment. A combined model will be able to tackle the complex challenges and enable businesses to extend their core competencies in a better and more advanced manner. Conclusion Analysing several pertinent models and application of knowledge management across organizations has provided useful insights into the same. While firms experiment with various combinations of their resources and capabilities, the core of the competitive advantage lies in analysing and evaluating pertinent factors related to the same. With globalisation challenges for firms have become complex and diversified in nature. A firm is now exposed to external business environment from the entire world that is undergoing transformation continuously. Often such factors make it difficult for firms to develop strategic decisions. At every instance a firm gets bombarded with varied knowledge pouring into their systems from world across, which they need to analyse. Therefore, all departments of the organization needs to have access to diversified knowledge, create them and share them concurrently such that effective utilization of resources and capabilities are done. Only through such effective u tilization it is possible to extend core competency of the firm, by making changes to their products or service features. Such changes might often be insignificant in nature but might be able to create customer satisfaction. In other words, capability of firms to deal with external business environment by management of knowledge is crucial for a firms existence and also to create effective sustainable competitive advantage. Reference Lists Ambrosini, V. . (2009). What are dynamic capabilities and are they a useful construct in strategic management? International journal of management reviews, 29-49. Ardichvili, A. (2008). Learning and knowledge sharing in virtual communities of practice: Motivators, barriers, and enablers. Advances in developing human resources, 541-554. Barney, J. B. (2007). Resource-based theory: Creating and sustaining competitive advantage. Oxford University Press on Demand. Barreto, I. (2010). Dynamic capabilities: A review of past research and an agenda for the future. Journal of management, 256-280. Dasgupta, M. . (2009). Innovation in organizations: A review of the role of organizational learning and knowledge management. Global Business Review, 203-224. Du Plessis, M. (2007). The role of knowledge management in innovation. Journal of knowledge management, 20-29. Easterby?Smith, M. L. (2009). Dynamic capabilities: Current debates and future directions. British Journal of Management. Kedia, B. L. (2009). Understanding offshoring: A research framework based on disintegration, location and externalization advantages. Journal of World Business, 250-261. Kiessling, T. S. (2009). Exploring knowledge management to organizational performance outcomes in a transitional economy. Journal of world business, 421-433. Leonidou, L. C. (2011). National export-promotion programs as drivers of organizational resources and capabilities: effects on strategy, competitive advantage, and performance. Journal of International Marketing, 1-29. Lichtenthaler, U. (2009). Absorptive capacity, environmental turbulence, and the complementarity of organizational learning processes. Academy of management journal, 822-846. Newbert, S. L. (2008). Value, rareness, competitive advantage, and performance: a conceptual?level empirical investigation of the resource?based view of the firm. Strategic management journal, 745-768. Seidler-de Alwis, R. . (2008). The use of tacit knowledge within innovative companies: knowledge management in innovative enterprises. Journal of knowledge Management, 133-147. Wang, N. L. (2012). Resource structuring or capability building? An empirical study of the business value of information technology. Journal of Management Information Systems, 325-367.

Prenatal Development Essays - Midwifery, Fertility, Human Pregnancy

Prenatal Development Prenatal development is the period in development from conception to the onset of labor. Perinatal period is the period beginning about the seventh month of pregnancy and continuing until about four weeks after birth. Postnatal development is the period in development the follows directly after birth. The germinal stage is the stage lasting about ten -fourteen days following conception before the fertilized egg becomes implanted in the uterine wall. The embryonic stage is the stage in which major biological organs and systems form. The fetal stage is the stage in which is marked by rapid growth and preparation of body systems for functioning in the postnatal environment. Viability is the ability of the baby to survive outside the mother's womb. The gestational age is the age of the fetus derived from onset of mother's last menstrual period. The number of older mothers is on the rise in the U.S. as women postpone pregnancy to establish careers or for other reasons. Healthy women older than thirty-five routinely deliver healthy infants just as other between the ages of twenty and thirty-five do. Teenagers, however, may be at a greater risk for delivering less healthy babies. Lack of prenatal care is a big reason. Diets, while pregnant, must be sufficient not only in number of calories but also with respect to the right amount of proteins, vitamins, and other nutrients. Stress also plays a big role in delivering a healthy baby. Cultural beliefs about potentially harmful consequences of frightening or stressful events on fetal development are pervasive, and many societies encourage a calm atmosphere for pregnant women. The social support a pregnant woman receives from family and friends is an important factor that can lessen the consequences of stress during pregnancy. Another reason is the complicated nutritional needs of teenagers. Teenage mothers give birth to as many as 500,000 babies in the U.S. every year. It is suggested to women that are thirty-five or older undergo a test. Not in all cases does the woman have to be certain age. In some cases women must undergo an amniocentesis which is a small sampling of the fluid surrounding the developing fetus by inserting a needle and drawing fluid. This test is designed to diagnose fetal developmental disorders and/or genetic disorders. Ultrasonography is a method using sound wave reflections to obtain a representation the developing fetus. Support within the womb: the placenta. The placenta is a support organ formed by the cells from both blastocyst and uterine lining; serves as exchange site for oxygen, nutrients and waste products. The umbilical cord is made up of blood vessels in which oxygen, nutrients and waste products are transported between placenta and embryo. As extra precaution the fetus is surrounded in a fluid-filled, transparent protective membrane known as the amniotic sac. Teratogen is any environmental agent that can cause deviations in prenatal development. Causing behavioral problems to death. There are a number of diseases that can cause complications to a pregnancy. These are just a few of the many diseases that can cause harm: toxoplasmosis, hepatitis B, diabetes, and chlamydia. FAS (Fetal Alcohol Syndrome) is a cluster of fetal abnormalities stemming from mother's consumption of alcohol. This disease can be avoided. Most infant's are born in a hospital, although there are some alternative birth settings such as, birthing centers (home-like setting). Statistics show that births directly supervised under a midwife, have less complications and distress. Preparing for childbirth, prepared childbirth (also known is ouch), is procedures practiced during pregnancy and childbirth designed to minimize pain and reduce the need for medication during delivery. A cesarean birth is the delivery of a baby through a surgical incision in the woman's abdomen and uterus. During the delivery, a fetal monitoring device is used to monitor fetal heartbeat. In the first stage of labor , the neck of the uterus, dilates and thins to open a passage through the birth canal. When the water is about to break, the baby's head rests inside the cervix. Then, transition, the baby shifts to the birth canal. After the resting in the birth canal, the baby is ready to be born. The head rotates sideways after it emerges. Thus, allowing the placenta to fall. Infants born with low-birth weight are in luck. Despite the immediate obstacles facing low-birth weight babies, many become normal children and adults. Newborns and infants display a number of states. A large part of their time in engaged in REM sleep, a state that may provide them with stimulation even when asleep.

Why Using a Rhetorical Analysis Sample Essay Can Be Effective

Why Using a Rhetorical Analysis Sample Essay Can Be EffectiveIn any debate or discussion, or even writing for your own need, you will always find the needs of your audience at the forefront of your mind. This is the best and most effective way to make a point, whether you're arguing with your ex or you're speaking up for you. Your specific needs will tell you exactly how to construct the words you're going to say to persuade your audience.Knowing your target audience is the number one way to effectively do this. This can be done through using the goals of your audience as a way to determine the words you're going to write about. This may also mean getting the answers to your questions and deciding which words you want to use to motivate your audience. With a bit of targeted anaylsis and preparation, you'll be on your way to providing a highly effective argument in a variety of situations.Your goal in writing your rhetoric is to motivate your audience to consider and to finally come t o the conclusion that your case is valid. This can be done through succinctly explaining the problem you have or by dealing with the situations you are trying to influence. Let's assume your very common and unavoidable issue is traffic. You will use a variety of communication techniques to make people aware of the importance of not stopping their vehicles in traffic.As I explained in an earlier article, you don't stop your vehicle in traffic if the light is red. Traffic is meant to be the order of the day and people should learn to simply wait their turn. The key is to make your words be pleasant and effective. For example, a phrase that says, 'Shouldn't stop to wait at a red light' becomes very short and would sound like a mechanical instruction rather than an instruction that must be followed.For starters, always use a period sentence that is short and to the point. Using the correct number of commas to make it sound sound formal but certainly not too formal would definitely suit the reader. Also, you may want to use a tense that implies something is about to happen instead of just informing the reader. A properly organized sentence could be something like, 'I will write the reason why you should not be stopping your vehicle at a red light is because...' or something similar. You may even want to focus on the reason why it is important to be aware of traffic conditions in order to win them over.A writer may choose to include pictures to show the reader how a driver should not brake at the light or how a truck would have the best chance of stopping at the light. This type of writing makes the reader think and see their point being made clearly. You should also try to include a clear articulation of your points to make them more noticeable to the reader.As you can see, there are a lot of ways in which you can use rhetorical analysis to sway people into thinking and acting on your behalf. Being able to focus on exactly what it is you're going to say and how you 're going to say it are also important steps that you can take in order to make your job easier.

World Conflict essays

World Conflict essays The 20th century was the bloodiest 100 years in human history. Based on numbers killed, in warfare, the 20th century exceeds all other centuries combined. The three major conflicts between 1901 and 200 were World War I, World War II, and the Cold War, respectively. At the turn of the millennium, a new type of conflict arose. This would come to be know as Modern Throughout the essay, how the various wars are linked to one another will be explained. Starting with WWII, the events will eventually lead to the end of the century all the way to our most current and somewhat ongoing conflict with terrorism. Many of the worlds nations were left in ruin after the first World War. The leaders of these countries were willing to do whatever it took to prevent another catastrophe such as WWI. Over 60 different countries formed the League of Nations under the Treaty of Versailles, hoping However, not all nations felt the same about these new ideals. Germany was one of them. The Germans were infuriated about how the treaty disarmed them and forced them to pay reparations. Germany was one of the nations hit hard by the post-war Great Depression. They needed someone to lead them in a time of struggle. That man would be Adolf Hitler. The first thing Hitler did after he rose to power was re-arm the German military, under direct violation of the Versailles Treaty. Then he made plans to take over Europe. Another fascist nation building up its army was Italy. Under Benito Mussolini, the Italians invaded Ethiopia. A few tried to stop Mussolini by boycotting the sale of arms to Italy, however, that failed and the aggression continued. In 1936 the Spanish Civil War broke out and gave Italy and Germany a chance to show off their power. The two would form an alliance know as the Axis Powers. Hitler and Germany began expanding. German troops moved across France&apos...

How an Administrative Job Can Be a Stepping Stone

How an Administrative Job Can Be a Stepping Stone The administrative job can be a great stepping stone to something bigger, whether you are talking about health care jobs, working in an office or in other fields. Because administrative jobs entail multiple duties and can evolve over time, this is the perfect spot to branch out and work your way toward a new career. Successful strategies can work to make a smooth transition and show you the opportunities available before you start checking classified ads for jobs.Examine Your Job DutiesTake a look at your current and past job duties and make a list of your strong points, including your experience and training. For example, suppose you want to go into the communications field. Look at your experience and talents, and list which of those would be applicable in that particular field. If you have extensive knowledge of computer programs, such as Excel and Microsoft Word, can you use this expertise to transition into the vast computer field? Customer relations, financial matters and proje ct coordination may also be a part of your job and can be transitioned into employment in a new area.Look at Your Resume With a Critical EyeThink about what would interest a hiring manager to evolve into your new career, and whether you have the necessary skills you need to move up the ladder. If not, it might be a good time to take a few courses, complete a degree or get the other necessary skills you need to make the move.Make a Plan in AdvanceBe clear about your goal and focus on one, not on several potential jobs that can raise you into a leadership position. Do you want to segway into information or computer management, administrative services, marketing or some other field? Spreading yourself too thin when job hunting can be a mistake. The key is to decide on a field and focus.Write a New ResumeOnce youve targeted the new job you want, rewrite your resume to include applicable skills and experience. Further enhance your resume when you want to put in a job application, so that it reflects both those skills and fulfills the requirements for the job.Provide Examples on Your ResumeA flat resume on the locations you have worked and job duties isnt enough and doesnt truly say how you benefited your previous company. Use examples of how you were an asset to your previous company and how this could transition into the new job. For example, an administrative services manager oversees the smooth operation of a business and directs staff but has many more duties. Use what experience you have to show that you have what it takes to slip easily into the new position.Work on Interview SkillsHaving a great resume for a job helps you get your foot in the door. However, sailing through the interview is necessary to get hired or invited back for a second interview. Practice answering common interview questions and get a family member or friend to help. Pare down the time it takes to respond to questions so your answers are succinct and to the point but cover the informati on you want to convey. Dress appropriately for your interview, and try to present yourself as relaxed and confident.Remember to Clean Out Your Social Media PagesBefore even applying for new jobs, take the time to clean out your social media pages of items you wouldnt want a hiring manager to see, such as profane language or pics of your last out-of-control party. In addition, now is the time to rework your LinkedIn page to include the skills and expertise you want to highlight. Since such a high percentage of employers check social media pages before making an offer, forgetting to update your LinkedIn account can result in the lack of a job offer.Hunting for Your New JobWhen looking for a job to move up the ladder, knowing what to do to make it easier helps. Job hunting in a practical way is also a good idea, instead of depending on job classifieds. TheJobNetwork does your job search for you by sending you email alerts when jobs become available in your chosen field. All you do is f ill out your qualifications and job interests. Sign up with TheJobNetwork to get started.

Ijarah Contracts Used By Islamic Financial Institutions Essay

Ijarah Contracts Used By Islamic Financial Institutions - Essay Example It assists in strengthening the financial system of the country. The stronger the economy the stronger the country is. There are two kinds of banking systems and they are Islamic banking and the Conventional banking. Islamic banking is significantly different from conventional banking, and some of the differences are discussed in this essay. This report talks about an important feature in banking system i.e. lease. In conventional banks, it is referred to as conventional lease; and in Islamic bank, the lease is known as Ijarah. â€Å"Ijarah derives from the root word ajar a – to recompense, compensate or give a consideration and return. Ajr refers to a worker’s wage, and ujra h to rental payment.† (Kamali n.d.). Ijarah is a Shariah compliant alternative to Conventional lease. Through these two kinds of lease, bank performs as a Lessor and the individual to whom the asset is leased acts as a Lessee. The bank insists the lessee to pay an amount monthly for the use of the asset. The rights of the asset remains with the bank, and only the privileges of use are transferred to the lessee. 2. Types of Ijarah Contracts Used By Islamic Financial Institutions: 2.1 Simple Ijarah (similar to an Operating Lease) In a business world marred by financial uncertainties and increasing costs of operations, Ijarah loans are broadly considered as the safest, easiest, and the most efficient means to finance production procedures. Like all the other forms of Islamic financing, Ijarah too is rooted in the sound economic main attitude laid down by the Sharia. There are different types of Ijarah, each matched to the specific needs of the parties involved in the agreement. â€Å"The two most popular forms of Ijarah loans are the Simple Ijarah or Ijarah as an operating lease and Ijarah thumma al-bai or Ijarah as a financial lease. The distinguishing feature of Ijarah as an operating lease is that the lease contract is not associated with a purchase agreement.† (All About Ijara as an Operating Lease 2005). The following are some of the features of Ijarah as an operating lease: The whole price of the asset, or the part of property specified in the contract is not amortized through the main leasing tenure. The lessee can get out of the contract, that is, stop the Ijarah as an operating lease agreement anytime the lessee wishes to. On the other hand, the lessee should provide a notice prior to doing so. The real ownership of the piece of property or assets mentioned in the agreement is retained by the lessor. This agreement is executed irrespective of the quantity of payment the lessee has tendered, and that identifies the lessor’s insistence to bear every responsibility and risk connected with the ownership. In Ijarah as an operating lease, permits a part of the property to be returned to the lessor at the end of the leasing tenure. The lessor, which can be a bank or any other financial organization, can again lease the property, if i t is a functioning unit, to a different person or business unit. 2.2 Ijarah Muntahia Bittamleek (similar to a Financing Lease) Ijarah Muntahia Bittamleek is an Ijarah dealing, in which the possession of the subject asset can be relocated to the lessee after the lease term. Ijarah and Ijarah Muntahia Bittamleek are by nature mere leasing contracts, in which the subject issue is the usufruct of the property; and not the quantity of cash, as in the case of a finance lease. In other words, it is not a financing deal, and instead, it is an alternative to financing

One page reflection essay based on experience Example | Topics and Well Written Essays - 250 words

One page reflection based on experience - Essay Example ompetition instilled in us an aspect of self-confidence in all we did thus winning every match besides developing additional skills due to practising harder. This is because we aimed at ensuring retaining our position as the leading team during all games we played. Sometimes we lost, but instead of being discouraged, losing to our competitors made us go back to the drawing board to examine and analyse our weak points. By understanding where we went wrong, it became much easier to find the way forward. Competition built teamwork, which uninterruptedly lead to the success of the team. Basketball involves passing of the ball from one player to another whereby without teamwork this will not be effective because there will be aspects of unselfishness. The healthy competition in basketball instilled a winning attitude in us besides discouraging us to be out of our comfort zones. Determination and perseverance enabled us to achieve the victory we badly needed. However, initially it was not that easy on my part to join an already strong team. I had to prove my worth but with persistence not only I made it but turned to be a reliable player. Extending this aggressiveness in life, competition has always encouraged me to set higher goals than that of my competitors. Through the early sport, I learnt to admire my competitors and strive harder to beat them. Not by copying them, but by being more creative and innovative to outdo them. We should therefore embrace competition for the good values it creates in