Political Philosophy and Machiavelli Essay Example for Free

Political Philosophy and Machiavelli Essay Nicolo Machiavelli is a well known philosopher of the Italian Renaissance from the sixteenth century. The return of the Medici family in Florence in 1512 forced Machiavelli out of office, and he wrote The Prince after retiring from the public. The Prince is one of his most famous works, it describes the means by which a new leader may gain and maintain power. His ideas can be applied to new rulers ranging from a new principal to a new president of a new country. While discussing his ideas for new rulers, Machiavelli says Upon this a question arises: whether it be better to be loved than feared or feared than loved? (Machiavelli 98). If a ruler is not able to do both, it is better to be loved than feared. Machiavelli answers his own question through his ideas of what makes a successful ruler. He argues that a prince is much safer being feared than loved. Machiavelli says â€Å" for love is preserved by the link of obligation which, owing to the baseness of men, is broken at every opportunity for their advantage; but fear preserves you by a dread of punishment which never fails. (Machiavelli 99). He says that being loved creates opportunity for being taken advantage of and being feared doesnt fail. Bringing fear to his people with cruelty would make them united and loyal. Most people who are fearful of any authority fear punishment, so they are more inclined to not cross the line of disrespect. Without a doubt, being loved is more desired from the people and has a greater value compared to being feared, even though the perks of being feared can make a leader successful. Since its better to be loved than feared, there are three important characteristics to have to ensure that the new people youre ruling love you; these characteristics are being honest, having respect, and being protective. Honesty is an important characteristic to have because the body of people youre ruling and the way they act is a reflection of yourself. If you make honest and good behavior a key value, your people will do the same. If you dont make honest and good behavior a key value, your people wont trust that you are always doing the right thing and telling the truth. Machiavelli says, Everyone sees what you appear to be, few experience what you really are. (Machiavelli 106). His quote shouldnt be true if youre an honest and truthful leader. Machiavelli says in his quote that a leader does not show his complete self to everyone, that he displays an act of goodness to his people and only reveals what he really is to those who ask for it. Being an honest leader inside and out will only help gain your peoples trust and true love. This quote also ties into the one that reads it is unnecessary for a prince to have all the good qualities I have enumerated, but it is very necessary to appear to have them. (Machiavelli 250). Machiavelli says that a leader must put on a false face to his people and pretend to have qualities that he does not actually have. Its not acceptable to hide yourself from your people because if you say youre going to protect them no matter what and you back out when something bad happens, your people will be disappointed and wont have trust in you. A successful leader who wishes to be loved should be honest to his people for who he really is because it will give him respect. You cant gain respect without giving respect. Respect is one of the most important characteristics to have when being a leader because people always want to be in an environment where they feel valued. A leader isnt going to be successful if their people arent happy and feel as if they arent important. If a leader is genuine with respect, his people will be more willing to give back respect and do as he says. Though, the truth is that it is important to give respect whether they feel the leader deserves it or not. As Machiavelli says, A prince is also respected when he is either a true friend or a downright enemy. (Machiavelli 250). It doesnt matter the relation you have with your leader, whether theyre a true friend or a downright enemy, youre going to respect them just because theyre your leader. Your people may not like what you do, but you will be respected. Its obvious that being respected out of actual love is the better than being being respected out of fear, and that good respect should lead to good confidence within the leader. The feeling of being protected is desired from a lot of people. If youre a new principal, your students and staff want locks on doors and an officer nearby. If youre the new president of a country, your nation wants to know that they have a reliable and strong army fighting for and protecting the country. A successful leader should always be ready for whatever situations may come. Machiavelli says, â€Å"He who does otherwise, either from timidity or evil advice, is always compelled to keep the knife in his hand. (Machiavelli 61). A leader should always be ready for quick action if some situation should arise. Your people will love and admire you if they know youre protecting them and is always cautious for quick problems. It takes great courage and confidence to take full responsibility for your peoples safety and well being. Being honest, having respect, and being protective are characteristics of being a successful but loved leader that have applied to people from before Machiavellis time all the way up to present day. Its easy to spot feared leaders such as Hitler apart from loved leaders like Martin Luther King Jr. Being loved not feared is better to be if you cannot be both because the people youre leading actually like you for who you are and are willing to do what you say, they arent scared into doing it. Martin Luther King Jr. led his people with the same respect they gave him, he was honest and true with his feelings, and he went above and beyond to change the worlds way of how they treated colored people to protect them from getting hurt and discriminated any longer. His people loved and admired him for who he really was, he didnt hide anything. Martin Luther King Jr. was a successful leader because he was loved and possessed honesty, respect and protectiveness.

Theories of Temperament: An Overview

Theories of Temperament: An Overview The literal meaning of personality springs from the Latin word ‘persona’, the mask employed by roman theatre actors. personality refers to our characteristics ways in which of responding to people and things. Personality is characterised by the subsequent features:- it has both physical and psychological parts. Its expression in terms of behavior is fairly distinctive in an exceedingly given individual. Its main options dont simply modification with time. its dynamic within the sense that a number of its options could change thanks to internal or external situational demands. Definitions of personality While there are many alternative theories of personality, the primary step is to know specifically whats meant by the term personality. The word personality itself stems from the Latin word persona, that referred to a theatrical mask work by performers so as to either project totally different roles or disguise their identities. A brief definition would be that personality is created from the characteristic patterns of thoughts, feelings and behaviours that create someone unique. additionally personality, personality arises from inside the individual and remains fairly consistent throughout life. Some other definitions of temperament as given by some psychologists are: †¢ Personality refers to individuals characteristic patterns of thought, emotion, and behavior, along side the psychological mechanisms hidden or not behind those patterns. This definition means among their colleagues in different subfields of science, those psychologists United Nations agency study temperament have a novel mandate: to clarify whole persons. (Funder, D. C., 1997) †¢ Although no single definition is suitable to all or any personality theorists, we will say that temperament could be a pattern of comparatively permanent traits and distinctive characteristics that offer each consistency and individuality to an individuals behavior. (Feist and cur, 2009) Components of temperament So what specifically makes up a personality? As described within the definitions higher than, one would expect that traits and patterns of thought and feeling frame a crucial half. a number of the other basic characteristics of temperament include: Consistency theres typically a recognizable order and regularity to behaviors. basically, individuals act within the same ways in which or similar ways in which in an exceedingly style of things. Psychological and physiological temperament could be a psychological construct, however analysis suggests that its conjointly influenced by biological processes and wishes. It impacts behaviors and actions temperament doesnt simply influence however we tend to move and respond in our environment; it conjointly causes North American country to act in bound ways in which. Multiple expressions temperament is displayed in additional than simply behavior. It may be seen in our thoughts, feelings, shut relationships and different social interactions. THEORIES OF temperament Personality contains a long history ranging from mathematician, Plato, Aristotle, solon and varied different philosophers and writers. Plato Plato (427–347 BCE) outlined the human soul because the seat of temperament. in keeping with philosopher the soul consists of 3 basic forces guiding human behavior: reason, emotion, and appetence. Reason is given the very best price because it keeps the additional primitive forces of appetence and feeling treed whereas feeling and particularly appetence area unit considered the â€Å"lower passions.† Aristotle Aristotle (384–322 BCE), one in every of Plato’s students and also the teacher of Alexander the good, noted human soul because the psyche. Aristotle projected that the psyche is that the product of biological processes. He additionally saw the psyche as as well as a collection of faculties that he placed during a hierarchy of importance. the primary school that Aristotle distinguished is that the nutritive—the human organism’s basic drives to fulfill its bodily desires. This school is found in plants further as in animals and other people. successive and better school is that the sensory activity, that philosopher outlined because the facet of mind that interprets sensory information. Animals further as folks have a sensory activity school. The last and highest school is that the intellectual, that philosopher saw as distinctive to kith and kin. Descartes According to Renà © mathematician (1596–1650), a French thinker, human temperament is that the product of the interaction of divine and primal forces. He saw the essential force behind human temperament because the immortal soul—pure, perfect, and intangible. mathematician started to clarify however this religious entity interacted with the material body. His observation of associate anatomical dissection semiconductor diode him to suppose he had resolved this mind-body downside. He detected atiny low body within the apparent center of the brain referred to as the epiphysis cerebri or epiphysis cerebri, therefore named by the Greco-Roman MD Claudius I Galen (c. 130–c. two hundred CE) as a result of its form reminded him of a pine cone. Descartes(1649) came to the conclusion that that this conical endocrine gland should be the purpose of contact between the soul and also the body. philosopher philosophical system, that is that the philosophical position that 2 su bstances—matter and spirit, or brain associated mind—exist severally of every different though they interact—became the foremost common read within the Christian West when the seventeenth century as a result of it â€Å"explained† the existence of human discretion and consciousness in an otherwise mechanistic universe. Indeed, before the appearance of the pc, it appeared not possible to permit for consciousness while not appealing to nonmaterial ideas. Machiavelli Niccolà ² Machiavelli (1469–1527), a Florentine diplomat and political thinker, believed that temperament is best understood in an exceedingly social context. in keeping with Machiavelli, folks area unit basically egotistic, greedy, ungrateful, and unforgiving. moreover, he saw 2 primary forces as process human character. the primary one is associate Italian term—virtà ¹Ã¢â‚¬â€which is best described as a mix of positiveness, fearlessness, and assurance. Machiavelli referred to as the second force Fortuna, that is that the Latin word for luck. someone might become a robust leader with the assistance of an honest dose of virtà ¹ and Fortuna. in keeping with him leaders United Nations agency act out of kindness and a believe the essential goodness of humanity can continuously fail. This belief is usually expressed by modern folks as â€Å"nice guys end last.† There are variety of different theories regarding however temperament develops. totally different schools of thought in science influence several of those theories. Type theory of temperament Perhaps the earliest acknowledged theory of temperament is that of the Greek MD Hippocrates (c. 400 B.C.), United Nations agency characterised human behaviour in terms of 4 temperaments, every related to a unique humour, or humour. The sanguine, or optimistic, kind was related to blood; the unemotional kind (slow and lethargic) with phlegm; the melancholic kind (sad, depressed) with black bile; and also the choleric (angry) kind with bodily fluid. Individual temperament made up our minds by the number of every of the four humours. Hippocrates system remained authoritative in Western Europe throughout the medieval and Renaissance periods. abounding references to the four humours is found within the plays of playwright, and also the terms with that Hippocrates tagged the four temperament sorts area unit still in common use nowadays. the idea of temperaments is among a spread of systems that influence human temperament by dividing it into sorts. A wide popularized (but scientifically du bious) trendy assortment of temperament was developed within the Nineteen Forties by William Sheldon, associate yank man of science. Sheldon classified temperament into 3 classes supported body types: the someone (heavy and easy-going), person (muscular and aggressive), and individual (thin and intellectual or artistic). Trait theory of temperament A major weakness of Sheldons morphological arrangement and different kind theories generally is that the component of oversimplification inherent in inserting people into one class, that ignores the actual fact that each temperament represents a novel combination of qualities. Systems that address temperament as a mix of qualities or dimensions area unit referred to as attribute theories. Well-known attribute intellectual Gordon Allport (1897-1967) extensively investigated the ways in which during which traits mix to create traditional personalities, cataloguing over 18,000 separate traits over a period of thirty years. He projected that every person has about seven central traits that dominate his or her behavior. Allports commitment to building attribute analysis additional manageable and helpful by simplifying it had been expanded by future researchers, United Nations agency found ways in which to cluster traits into clusters through a method referred to as correlational analysis. Raymond B. Cattell reduced Allports in depth list to sixteen basic teams of inter-related characteristics, and Eysenck claimed that temperament can be delineate supported 3 basic factors: psychoticism (such delinquent traits as cruelty and rejection of social customs), introversion-extroversion, and emotionality-stability (also referred to as neuroticism). Hans Jurgen Eysenck conjointly developed a quadrant supported across emotional-stable and introverted-extroverted axes.

Importance Of Ability And Personality Of Applicants Commerce Essay

Importance Of Ability And Personality Of Applicants Commerce Essay The linear approach is the one approach that was involved in the case of career development of the person. This approach is the best one to the person in order to decide his career path and goal. This linear approach provides the guidelines to the person in order to achieve his goal and his career development in his life. It also concentrates to the person in the case of improving the strength of the person and it focus the strength and weakness of the person. This approach was involved in the case of providing the step-by-step process to the response of the person thats why person can be motivated positively. The person can get his career options without any interruption. References Tricia Jackson.(2000). Career Development. British Library publications of Data. 2. Importance of ability and personality of applicants The applicants were selected primarily on the basis of ability and the personality fit in order to obtain the enhancement of organization. These both elements are deciding the concentration and the strength of the application in the organization. The management requires the better ability and the personality from the applicant thats why applicant can fit for accessing the organization. The better ability and the personality both concepts are necessary in the case of resolving the critical situation in the organizations. The applicant can also manage the products and services of the organization. The ability and personality provide the new technical ideas and concepts to the applicant in order to improve the profits of the organization. References Heller, D., Judge, T. A., Watson, D. (2002). The confounding role of personality and trait affectivity in the relationship between job and life satisfaction.  Journal of Organizational Behavior. 3. Advantage and disadvantages of seniority layoff The laying off employees on the basis of seniority is taking some process in order to provide the sense of fairness to the workers. The advantages are keeping experienced workers, showing employee loyalty. Keeping the experienced workers refers the laying off workers that were based upon the seniority most experienced workers in order to maintain the organizational products and services. This will provide the better level to the organization. Showing employee loyalty is the advantage to the organization that shows sense of loyalty to the organization. The employee loyalty can improve the worker morale in the organization. The disadvantages are limiting improvements and keeping highly paid workers that are giving the poor products and services to the organization. Keeping experienced workers, employee loyalty and keeping high paid employees are the alternatives to the seniority. References Ricky W. Griffin.(2005). Human Resources Management. DreamTech Publishing. 4. Career development of organization The modern organizations are flatter and offer fewer opportunities for advancement. The career development is the one that involves developing the key strategic asset of organization. The careers must develop the excellence and goal of the organization in order to provide the innovations to the organizations. They must encompass the vertical issues including the upward mobility and promotions. The careers must deal with the fundamental nature of relationship among the work and employee in the organization. The career must be developed the empowerment in the case of expressing the demands of organization. The career development program must be implemented by careers in order to provide the organizational innovations. References Jonathan E. DeGraff (21 February 2010).  The Changing Environment of Professional HR Associations.  Cornell HR Review. 5. Training and career development The training and the career development are having some differences in the case of improving the organizational activities. The training is the desired outcome in the case of improving the skills of individual and productivity. The productivity includes the personnel professional activities. The training can lead the development of individual in the organizations. But the career development is the measurement in the course time and that develops the long term process of organization. The career development concerns the nature and development of personal attitudes and it includes plans for potential employee and management. Training must provide the better skills and knowledge to the employees that will lead to employee turnover. The career development must develop the employees, senior management to improve retention. References Diane Arthur (1995). Training and Development.  Managing Human Resources in Small Mid-Sized Companies. 6. Challenges of post- traditional family The several challenges occur to the organization by the post- traditional families and they impact the organizational functions. The post -traditional families are giving the challenges to the organization in the case of health insurance and the life insurance coverage. These are the major challenges to the organization in the case of mitigating the employee benefit problems. The health insurance and the life insurance were having the trouble to give the employee benefit by the post traditional families. The organization is having the pleasure to provide the better mitigation techniques to meet these challenges. The organizations are making the employee benefit strategies to face these challenges in order to make the value to life insurance and health insurance coverage. References Charles Handy.21 Ideas for Managers: Practical Wisdom for Managing Your Company and Yourself, First ed San Francisco: Jossey-Bass, 2000 Print. 7. Employee motivation The training is the better solution in order to improve the employee motivation. The training expands the high level responsibilities to the employees and they are providing the new types of jobs to the employees. The authority is provided to the employee in order to make the decisions by the training and the training is inviting the employee in order to contribute for making more planning. It also provides more access to significant meeting for the participation of employees. The establishment of goals, measurements and priorities can be provided by training in order to improve their motivation. The training can be used to assign the head up projects to the employees for providing the motivation. References Fishbein, M.; Ajzen, I. (1975),  Belief, attitude, intention, and behavior: An introduction to theory and research, Reading, MA: Addison-Wesley 8. Human Resource Management The HR management is having the pleasure to hire and eliminate the employees in the organization. According to HR management, the unqualified employees will be eliminated from the organization and because of unqualified employees are making the less experience and waste of time for managers. HR management must make the solution for this problem. The HR management must hire the employees that are based upon the effectives of employees. Additionally, HR management must consider some factors when hiring the employees that are training, development, career planning, performance evolution, compensation, collective action and personnel control. These factors will give the solution for those problems. References Wright, Patrick.  The 2011 CHRO Challenge: Building Organizational, Functional, and Personal Talent. Cornell Center for Advanced Human Resource Studies (CAHRS). Retrieved 3 September 2011. 9. Organizational commitment Watkinss company have done something to make her see the whole picture and gain an understanding of commitment to know the work of organization. The company must explain the importance of software documentation and commitment of organization in order to teach the wok and abilities. According to this case, she is affected by lack of knowing the things and she doesnt know how to contribute to the whole thats why company must make the better awareness to her. The company must clarity her doubts then only she can able see the picture and know the things about the commitment and works of organization. The company must involve her in the case of practically oriented things. These things the company must have done to make her see the picture and the organizational commitment. References Meyer, J P and Allen, N J (1991). A three-component conceptualization of organizational commitment: Some methodological considerations,  Human Resource Management Review, 10. Managing Survivors The organizational manger would have about the surviving workforce after the layoff in order to mitigate the organizational risks. Then the manger must concentre to restructure the organization, increase the organizational efficiency, make cost-cutting efforts, and reduce the demand of products, implementing the mergers and acquisitions. These are the primary concerns that associated to the managers in order to make the decision. HR management supports to the survivors of layoff. HR management implements several strategies that are used to provide the support to survivors of layoff. Re-emphasizing the mission, vision and the goal of survivors can give the major supporting points to survivors of layoff by HR management. Recreating the work environment is the best one to remove the survivors in organization. References Henry Mintzberg (1981). Organization Design: Fashion or Fit  Harvard Business Review  (January February). 11. Importance of training The conflict resolution training method is the one that is the approach to the organizational conflicts. This is the suitable training in order to mitigate the organizational conflicts. This training provides the better communication to maintain the organizational relationships. The lack of role in organization is the causes of conflict in organization and this training improves the organizational role by assigning corresponding work to the organizational roles and hence the organizational conflict will be reduced. This training is also used to address the leadership problem in the organization and because of leadership problem is the causes of conflict in organization. The leadership problem will be avoided satisfying the requirements and the expectations of the organizations thats why this training is the best one to mitigate the organizational risks.

Accounts Of The Holocaust Essay -- essays research papers fc

Accounts of the Holocaust The Holocaust was the systematic annihilation of six million Jews by the Nazi regime during the Second World War. I will tell the story of the Holocaust through many different personal accounts of people involved in many different sides of this incredible story. I will do this by using the personal accounts of surviving victims, of those not directly involved in the event, though affected by it, and the defense of the Nazi party. But first, I will tell you a little about the event. The Holocaust began in 1938 and lasted until 1945. This was most definitely the hardest seven years the Jewish population has ever faced. In 1933 approximately nine million Jews lived in the 21 European countries occupied by Germany during the war. The rise of the Nazi party’s anti-Semitism became noticeable in 1935 when laws were put forth limiting the rights of all German Jews. For the Jewish population the hardest time came with the introduction of the concentration camps. Jewish people were Cordova 2 stripped from their homes and hiding places by the German special police services such as the Special State Police (the Gestapo), the Storm Troopers (S.A.), and the Security Police (S.S.). The Jews were transported, in mass amounts, to different Concentration and Extermination Camps throughout Europe. Here they were forced into labor and exterminated when found to be useless to the Nazis. To explain the cause of the Holocaust we must first look at the situation through the eyes of the Nazi party. They truly believed that the Jewish population was the enemy and that annihilation was the only way to rebuild Germany. Dr. Joseph Gobells, the author of The Gobells Diaries, and a member of the Nazi party explained: The Jews have deserved the catastrophe that has now overtaken them. Their destruction will go hand in hand with the destruction of our enemies. We must hasten this process with cold ruthlessness. We shall thereby render an inestimable service to a humanity tormented for thousands of years by the Jews. This uncompromising anti-Semitic attitude must prevail among our own people despite all objectors. (www.virtual.co.il,1) Nazis felt that in order to build a perfect world all the impure Cordova 3 people, such as the Jews, must be exterminated. The Nazi party also expressed why all Jews, including women and children, were targeted. Heinr... ... dear G-d in a world gone mad and I have seen evil unleashed beyond reason or understanding. I was with them. We drank from the same bitter cup. I hid with them Feared with them, Struggled with them And when the killing was finally done I had survived while millions had died. I do not know why I have asked many questions for which there are no answers And I have even cursed my life thinking I could not endure the pain. But a flame inside refused to die. I could not throw away What had been ripped away from so many. In the end I had to choose life. I had to struggle to cross the bridge between the dead and the living. I had to rebuild what had been destroyed. I had to deny death Another victory. Bibliography www.about.com/holocaust www.members.home.net/captianhall/david_e.html#PreWarDaysOUR www.remember.org/malka.html 1 www.remember.org/witness/lipetz.htm 2 www.virtual.co.il/education/education/holocaust/quote/gobells.htm 1 www.virtual.co.il/education/education/holocaust/quote/himmler.htm 2 www.virtual.co.il/education/education/holocaust/quote/hitler.htm 3   Ã‚  Ã‚  Ã‚  Ã‚  

Father Son Relationship in The Black Pearl :: essays research papers

The Black Pearl A young boy reveals his innersole with his father on a journey. He becomes a stripling. The young boy wants to go out to sea with the men. He's an open boy towards the sea and is very understandable and doesn't dread everyday to be horrible because she's on a boat. Daniel has always dreamed of going to sea. He?s always wanted to sail across it and be in it's vast blue. So when he hears of her fathers plan to go sailing to England on a ship, to go pearl hunting, he just has to go. At first he was reluctant to let him go, considering he was a new time sailor to the family he would be the only young child aboard. Eventually they were talked into letting him come a long. The ship was fairly old and needed to have a lot of work done on it before it could head out to sea. They stop at Block Island, Long Island, Martha's Vineyard, and a little place close to Cape Cod before they finally head out to sea. Their relationships and patients ate tested out on the ocean. Organized as can be, Ramon and his father once started pearl hunting when they were younger. He works hard on it then sells them in the near my market. They are very popular to the towns? people. The fighting continued and got worse. Patients ran low until they were forced to pull each other?s together behavior together when the sea monster captures Sevillano. When Raymon found a huge pear. The pearl was amazingly beautiful. Its shape and size couldn?t compare to a vagrants money on the towns Marketing streets. The pearl was thought to be fake, but only Daniel and his father new the truth, that it was real. Daniel trusted him self to polish it and shape it, but his father didn?t trust him with the valuable gem stone. His father didn?t think Daniel had enough experience to be handling such a precious stone. When they spotted land after Daniel had captured the beautiful pearl, the whole town had known what had happened and all had gathered. Mostly rich people had come to the bay where they had landed because only there money could compare to the stones beauty and marketing price.

Principal Agent Theory Essay

There are many settings in which one economic actor (the principal) delegates authority and/or responsibilities to an agent to act on his behalf. The primary reason for doing so is that the agent has an advantage in terms of expertise or information. This informational advantage, or information asymmetry, poses a problem for the principal—how can the principal be sure that the agent has in fact acted in her best interests? Can a contract be written deï ¬ ning incentives in such a way that the principal can be assured that the agent is taking just the action that she would take, had she the information available to the agent? Solving this problem is a matter of some concern for patients dealing with their doctors, clients dealing with their lawyers, etc. It is also a crucial concern for business ï ¬ rms dealing with their employees. Especially in the twenty-ï ¬ rst century, employees are often hired precisely because they have information available that is unavailable to the managers of a ï ¬ rm, who changes or implements new ways of work (Innovation), making sure that employee expertise is put to work in the interest of the ï ¬ rm can make the difference between success and bankruptcy–as illustrated by the performance of Google Corporation and their success. Principal-Agent Theory The key common aspect of all those contracting settings is that the information gap between the principal and the agent has some fundamental implications for the design of the bilateral contract they sign. In order to reach an efficient use of economic resources, this contract must elicit the agent ´s private information. This can only be done by giving up some information rent to the privately informed agent. Generally, this rent is costly to the principal. This cost or payment is what is known as Monitoring Cost, on which the Principal can limit divergences from his interest by establishing appropriate incentives for the agent and by incurring monitoring costs designed to limit the aberrant activities of the agent (Jensen, 1976, pg. 5). And just like in any other trade, the Principal is giving something in exchange of the actions and decisions of the Agent; we can say that the Monitoring Cost is an action with its own reaction:Bonding Cost. This is the Welfare the Agent is willing to take, on behalf of the Principal, to limit or restrict his own actions, therefore reducing the deviation from the Principal’s interests. These costs guarantee that the Agent will not take certain actions which would harm the principal or to ensure that the principal will be compensated if he does take such actions (Jensen, 1976, pg. 5). Nevertheless there will always be some divergence between the agent’s decisions and those decisions which would maximize the welfare of the principal. The equivalent of the reduction in welfare experienced by the principal as a result of this divergence is what we refer as the Residual Loss (Jensen, 1976, pg. 5). But as said on the beginning, this deal is because of a lack of information or expertise of the Principal in comparison with the Agent. This lead us to the Asymmetrical relationship. Asymmetrical relationship refers to the fact that the Agent may have more information than the Principal, leading to the fact that the Principal may not know to what degree are the actions of the Agent in the Principal’s own interests. Given the self-interest of the Agent, he may or may have not behaved as agreed (Eisenhardt, 1989, 61). Information is asymmetric because the agent, of course, knows which decision he is going to make (Spremann, 1987, pg. 4). This Asymmetrical relationship leads into a field of risk and uncertainty represented by the dilemma of Moral Hazard and Adverse Selection. Moral hazard is a situation where the behavior of one party may change to the detriment of another after the transaction has taken place. A party makes a decision about how much risk to take (Agent), while another party bears the costs if things go badly (Principal), and the party insulated from risk behaves differently than how it would if it were fully exposed to the risk. According to contract theory, moral hazard results from a situation in which a hidden action occurs. Bengt Holmstrà ¶m (1979) said this: It has long been recognized that a problem of moral hazard may arise when individuals engage in risk sharing under conditions such that their privately taken actions affect the probability distribution of the outcome. The non-observability of the agent’s action may then prevent an efficient resolution of this conflict of interest since a contract can never stipulate which action should be taken by the agent. In a moral hazard context, the random output aggregates the agent’s effort and the realization of pure luck. However, the principal can only design a contract based on the agent’s observable performance. Through this contract, the principal wants to induce, at a reasonable cost, a good action of the agent despite the impossibility to condition directly the agent’s reward on his action. In general, the non-observability of the agent’s effort affects the cost of implementing a given action. Moral hazard can be divided into two types when it involves asymmetric information (or lack of verifiability) of the outcome of a random event: Ex-Ante Moral and Ex-Post Moral. An ex-ante moral hazard is a change in behavior prior to the outcome of the random event, whereas ex-post involves behavior after the outcome. For example, in the case of a health insurance company insuring an individual during a specific time-period, the final health of the individual can be thought of as the outcome. The individual taking greater risks during the period would be ex-ante moral hazard whereas lying about a fictitious health problem to defraud the insurance company would be ex-post moral hazard. However, there is a second type of informational asymmetry which can also characterize principal-agent relationships. Adverse selection, anti-selection, or negative selection is a term used in economics, insurance, risk management, and statistics. It refers to a market process in which undesired results occur when buyers and sellers have. This is where the agent possesses some information prior to choosing an action which, if known by the principal, would influence the choice of action he would like the agent to make. The agent is then required to pass some message to the principal which depends on the ‘private information’ he has. Since the chosen effort, outcome and payoff to the agent may all depend on the message he transmits, the agent may have an incentive to misrepresent his information. The design of the contract will then have to take account of this problem of ‘adverse selection’. It is important to stress that, as adverse selection, moral hazard would not be an issue if the principal and the agent had the same objective function. Crucial to the agency cost arising under moral hazard is the conflict between the principal and the agent over which action should be carried out. Managing Innovation. First of all we have to define what is innovation. An Innovation is a new idea, which may be a recombination of old ideas, a scheme that challenges the present order, a formula, or a unique approach which is perceived as new by the individuals involved (Zaltman, Duncan, and Holbek 1973; Rogers 1982). As long as the idea is perceived as new to the people involved, it is an â€Å"innovation,† even though it may appear to others to be an â€Å"imitation† of something that exists elsewhere. Included in this definition are both technical innovations (new technologies, products, and services) and administrative innovations (new procedures, policies, and organizational forms). Even though innovation is always progress, it does not mean that can fit on everyone or that everyone will be happy applying it, and more because it involves changes. When we are talking about innovation in an enterprise, managers have to deal with 4 problems. This problems are reflected in a variety of questions the CEOs often raised (Van de Ven 1982).: 1. How can a large organization develop and maintain a culture of innovation and entrepreneurship? 2. What are the critical factors in successfully launching new organizations, joint ventures with other firms, or innovative projects within large organizations over time? 3. How can a manager achieve balance between inexorable pressures for specialization and proliferation of tasks, and escalating costs of achieving coordination, cooperation, and resolving conflicts? From these questions we can find three of four different factors that related to the Principal-Agent Theory, as Google did and we will explain it, to succeed in the implementation of innovation.First, there is the human problem of managing attention, second, the process problem is managing ideas into good currency so that innovative ideas are implemented and institutionalized, and finally there is the structural problem of managing part-whole relationships, which emerges from the proliferation of ideas, people and transactions as an innovation develops over time. It is often said that an innovative idea without a champion gets nowhere. People develop, carry, react to, and modify ideas. People apply different skills, energy levels and frames of reference (interpretive schemas) to ideas as a result of their backgrounds, experiences, and activities that occupy their attention. People become attached to ideas over time through a social-political process of pushing and riding their ideas into good currency, much like Donald Schon (1971) describes.Schon also states that what characteristically precipitates change in public policy is a disruptive event which threatens the social system. Here is where the Principal enters, because he needs the new ideas, so he makes a deal (contract) with the Agent to get those ideas. He (Agent) needs to respect and fulfil the contract previously made, incurring the bonding costs, so think or adapt ideas. In some way, the Principal or the contract is the pressure who makes the Agent work. A more realistic view of innovation should begin with an appreciation of the physiological limitations of human beings to pay attention to non routine issues, and their corresponding inertial forces in organizational life (Van de Ven and Hudson 1985). This make us think on the psychological aspect of the human being. You can implement innovation in your company or to your life (or someone else), it will be a new thing and our attention will be all focused on it. But when exposed over time to a set of stimuli that deteriorate very gradually, people do not perceive the gradual changes- they unconsciously adapt to the worsening conditions. Suddenly we lose our focus on the innovation and we just keep doing the same routine without even thinking why. Organizational structures and systems serve to sort attention. They focus efforts in prescribed areas and blind people to other issues by influencing perceptions, values, and beliefs. Janis (1985) states that only the vigilance pattern generally leads to decisions that meet the main criteria for sound decision making. Vigilance involves an extended search and assimilation of information, and a careful appraisal of alternatives before a choice is made. Here is where the Leader enters, setting the way where all efforts should go to. Most of the times, these directions go around the customers needs or wishes, and the manager materialize them into the new goals, ideas or direction of the innovation.In Principal- Agent language, here is where we can find the monitoring cost, the Principal pay attention into the actions of the Agent and corrects if necessary, in case that the actions of the Agent go in a different direction as they had stipulate on the contract. Proliferation of ideas, people, and transactions over time is a pervasive but little understood characteristic of the innovation process, and with it come complexity and interdependence – and the basic structural problem of managing part- whole relations. Transactions are â€Å"deals† or exchanges which tie people together within an institutional context. The relationship between the Principal and the Agent is a deal, a transaction. As the Principal wants a result but can not produce it by himself, puts him in the position of a transaction. The prevailing approach for handling this complexity and interdependence is to divide the labor among specialists (Agents) who are best qualified to perform unique tasks and then to integrate the specialized parts to recreate the whole. The objective, of course, is to develop synergy in managing complexity and interdependence with a deal design where the whole is greater than the sum of its parts, where both of them obtained what they were looking for. In search of that correct synergy, John R. Commons (1951), argued that transactions are dynamic and go through three temporal stages: negotiations, agreements, and administration. The deal between Principal- Agent has to be very flexible to succeed this, without being vague and confusing. Following Ashby’s (1956) principle of requisite variety, learning is enhanced when a similar degree of complexity in the environment is built into the organizational unit. This principle is a reflection of the fact that both parts are dependant of the other (the main reason of the Principal- Agent relationship) but also a reflection of the need of being in the same ground of information, or at least on the same conditions of it (if not, there would be no deal and no need of each other). With this point and Management of Attention, the Principal can avoid and solve the problems and risk of Moral Hazard and Adverse Selection. Google case Talking about innovation and implementation, we can see Google. Google is the place to work according to Fortune magazine, which listed the top 50 companies to work for. Google appears as a top contender for most features, including unusual perks, cafeterias, health cover and work environment. Even Management guru Gary Hamel praised Google in his book The Future of Management, stating that more companies should adopt their system. The system ensures that interesting ideas—even those that aren’t obvious fits for Google’s capabilities or core business model—receive some degree of attention. Their management have 3 statements and the base of all of it: First, set and communicate clear criteria for how you make funding decisions. Make sure those criteria include quantitative elements (how big could the market be) and qualitative elements (how passionate are we about this). Second, create an â€Å"ideal† innovation portfolio that blends core improvements and new growth businesses. Finally, consciously seek ideas that provide â€Å"unique† diversification by using a new channel, reaching a new customer, or creating a new revenue stream. Every developer has 20% of their time to work on any project they want, free time if you want to see it like that, but they have also to fulfil some goals, achievements and chores. they have freedom, but still, have some responsibilities that have to accomplish. Developers have to report to their managers that they had finished all of those chores. As long as they keep doing that, the deal or transaction still valid. About those 20% of free time, everything the developers creates, is property of the company, and still have to be approved by his manager, but have a complete freedom of the way of working and develop it. In exchange of that intellectual currency, Google give their employees not only their salary, but also a lot of benefits and rewards. For example Google offers include 100% health care coverage and onsite childcare facilities, also a rule at Google is that no staff member should ever be further away than 100 feet from a source of food. That doesn’t mean that they only have access to vending machines with junk food, or that the cafeterias give out quick, easy and grease-laden meals. Chefs of the highest calibre prepare range of meals, with unique variations on everyday meals. Macaroni and cheese, for instance, comes with wild mushrooms and truffles. In Google we see that the Principal-Agent and Innovation Management concepts and ideas applied. First of all, we have to begin with the need of the Principal, the motor of the transaction. Google needs to keep on the market via innovations and new products. To fulfil those needs, Google hires new development engineers, the Agents, to create those innovations. As Bonding Cost, Google offers the engineers a payroll and to take care of their life needs, such as health, food and, in some cases, housing as an equivalent of their intellectual currency. There is no way to eliminate the Residual Loss, but in Google they try to have the smallest one. They know they are asking a lot, but give a lot as well. As an example of that, Google tries to increase the welfare of their agents at all time more than any other company in the world, by giving them a greater payroll (incentive or Bonding cost) as exchange of actions, decisions and innovations that favors both parts. We can see here the vigilance that the Principal has over his Agent, the Principal does not have a total control over the Agent, but gives him some chores to do to keep him on track and to keep his ideas flowing. This vigilance or monitoring is what we can see as Monitoring Cost. Talking about Moral Hazard and Adverse Selection, Principal and Agent are always on the same track and in a lot of communication, making their bond flexible and healthy. As we said earlier, when both Principal and Agent have the same objective function, Moral Hazard and Adverse Selection, are not an issue. Great part of their success is because they understood for who are they working for: themselves. Google hires young people, not only because their potential and innovative ideas, but also because young people are the greatest part or their market. Young people working and developing tools for young people. Who understands better their needs as themselves! Conclusion Innovation is the goal of every enterprise and person in this world: we were born to improve in any moment. And even though, it is very difficult to create it or implement it. Thankfully, the Principal-Agent help us understand how some part of the human relationships work and how we can keep a healthy staff and also to remunerate them truly. Also it is important to denote that is impossible to know at all the time what the Agent is doing or going to do, but if you create the correct synergy, and set goals that will benefit both parts, the risk of a bad decision and therefore, the vigilance, can be almost eliminated and an ambience of trust is built. Something that surprise me it’s the fact that being in the same situation for a long time doesn’t helps the Innovation, when normally one thinks that this will create experience and knowledge enough to know how to change the method or create a new one to make it better. Bibliography Jean-Jacques Laffont & David Martimort; 2001;The Theory of Incentives:The Principal-Agent Model. Merton H. Miller; Kevin Rock;1985; Dividend Policy under Asymmetric Information; The Journal of Finance, Vol. 40, No. 4. (Sep., 1985), pp. 1031-1051. Ray Rees; 1985; THE THEORY OF PRINCIPAL AND AGENT:PART 2; Bulletin of Economic Research 37:2;1985. Andrew H. Van de Ven; 1986; Central Problems in the Management of Innovation; Management Science, Vol. 32, No. 5, Organization Design (May, 1986), pp. 590-607. Michael C. Jensen,William H. Meckling; 1976; Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Kathleen M. Eisenhardt; 1989; Agency Theory: An Assessment and Review. Klaus Spremann; 1987; Agency Theory, Information, and Incentives; pp. 3-38. Bengt Holmstrom; 1979; Moral Hazard and Observability; The Bell Journal of Economics, Vol. 10, No. 1, (Spring, 1979), pp. 74-91. Zaltman G., Duncan R., Holbek J; 1973; Innovations and Organizations. Rogers E.; 1982; Diffusion of Innovations. Schon D.;1971; Beyond the Stable State. Janis I., Groupthink; 1982; â€Å"Sources of Error in Strategic Decision Making,† in J. Pennings (ed.), Strategic Decision Making in Complex Organizations, Jossey-Bass, San Francisco, 1985. Commons J.;1951; The Economics of Collection Action. Ashby W. R.; 1956; An Introduction to Cybernetics.

Oral vs Residential Education for the Deaf

Despite what is commonly believed by hearing people who do not understand deaf culture, most deaf children are born to hearing parents. It can be challenging to raise a deaf child, as a hearing parent. One major decision on a parent’s plate for their deaf child is the choice of a residential or oral school to enroll their child in. Even though the students will be less exposed to deaf culture, parents of deaf children should send their kids to an oral school because they graduate with a higher reading level than kids who graduate from a residential school and learning how to assimilate with the majority of the population could help further their experience in life. One major reason for the parents of a deaf child to send their kid to an oral school over a residential school is the reading level the child will graduate with. On average, deaf adults have a reading level of only third to fifth grade. People who are deaf or hard of hearing are in no way less intelligent than anyone else, but their reading ability depends on the age which their hearing diminished. Being that English is a very oral language, people who lost their hearing before the age of three would have a hareder time learning the language than otherwise. Hearing Americans learn it by hearing it and reading is taught by sounding out the word, or phonetics (ie. Hooked on Phonics). For this reason, most Americans are dependent on their hearing to pick up the English language. A higher reading level achieved by a deaf student attending an oral school accomanies the fact than an oral education gives a child increased opportunity as he or she grows older and becomes more involved in the outside, hearing world. Considering the average hearing person’s early life, first a child is born. From here, a child picks up every sound and sight continuing when he or she is entered into kindergarten. After this, comes public education through the twelth grade and from there, a kid will usually apply for high school and graduate with some sort of degree. A degree has been proved to be a key to landing a profitable job. A deaf child may have most of these same experiences, but when out looking for a job, especially in this economy, may be hindered by the communication barrier that would exist. if they attended a residential school for the deaf. On the other side of the subject, one may argue that a residential school benefits a deaf child more than an oral school because the child still has a strong connection with their deaf culture. This is not necessarily true, being that a deaf child may also learn sign language if wanted, but simply not through their oral school. Also, the concept of any deaf relatives can assist in keeping the deaf culture in the family. A residential school has some disadvantages of its own. If a hearing parent has a deaf child and sends him or her to a residential school, the parents would also need to learn sign language which, because of the age of the parents may be difficult being that it is harder to learn a language the older one is. As a second drawback, a child who is fluent in ASL and is not familiar with English will not be able to successfully be entered into mainstream public school. Entering one’s deaf child into an oral school may have its various disadvantages such as limited avaliability or a distancing from deaf culture, but considering the advantages of enrolling a child into an oral school outweighs enrolling a child into a residential school. It is plain to see that although the students will be less exposed to deaf culture, parents of deaf children should send their kids to an oral school for two main reasons. First, learning how to assimilate with the majority of the population could help further their experience in life and, importantly, they graduate with a higher reading level than kids who graduate from a residential school.