A Review of the Literature Essay Example for Free

A Review of the Literature Essay Introduction Because the focus on market orientation has steadily increased over the last decade, academicians and marketing managers have begun to debate the effectiveness of market orientation as a profit enhancing strategy. Researchers and marketing managers are attempting to measure the benefits and costs associated with the implementation of market orientation. For researches and managers, the key questions that surround market orientation are whether or not it increases performance, and if so, in which circumstances should market orientation be implemented. In order for market orientation to become a cornerstone of business practices in years to come, these questions must be answered. This review will focus on three articles which address these key questions: Market Orientation and Company Performance: Empirical Evidence from UK Companies by Greenley, G (1995), Market Orientation: Antecedents and Consequences, by Jaworski and Kohli (1993) and The Effect of a Market Orientation on Business Profitability by Narver and Slater (1990). Summary of The Effect of a Market Orientation on Business Profitability by Narver Slater (1990) In The Effect of a Market Orientation on Business Profitability (1990), Narver and Slater address the lack of empirical evidence surrounding the effectiveness of market orientation. They begin the article by stating: market orientation is the very heart of modern marketing management and strategy ? yet to date, no one has developed a valid measure of it or assessed its influence on business performance? as a result, business practitioners have had no specific guidance as to what precisely a market orientation is and what its actual effect on business performance may be. Their study attempts to develop a valid measure of market orientation and its effect on the profitability of the firm. Narver and Slaters study is designed to test the hypothesis that there is a strong correlation between market orientation and profit levels for both commodity and non-commodity businesses. Narver and Slater  hypothesize that market orientation is a one dimensional construct consisting of three behavioral components: customer orientation, competitor orientation and inter-functional coordination. Additionally, they hypothesize that there are two decision criteria: a long term focus and a profit objective. Based on these criteria, Narver and Slater developed a questionnaire which was given to a sample group of 140 strategic business units in the same division of a major Western corporation. They then used statistical analysis to try to determine the correlation between the adoption of market orientation and the increase in profit and overall performance. In order to obtain accurate results, the researchers attempted to limit the influence of the other forces that impact a businesss profit margin; by doing this, they were able to isolate two key variables and find the relationship between them. Based on their data and analysis, Narver and Slater concluded that there is a monotonic relationship between profit and market orientation for the non-commodity business, whereas the relationship with commodity business was only apparent above the stated median in market orientation. Narver and Slater also concluded that market orientation is economical in all environments, and the question was finding the optimal level of market orientation. Critique of The Effect of a Market Orientation on Business Profitability by Narver Slater (1990). Narver and Slaters study is one of the first major empirical studies on the subject of market orientation and its impact on the firms profit. This ground-breaking study offers empirical validation to theories that were unproven prior to the study. However, based on the results of Narver and Slaters study, there are still many questions that remain unanswered. I found that the most significant problem with the study is that their sample was taken from a single corporation, meaning that the data they used was limited to only one industry and one region. As Narver and Slater noted in their conclusion, a sample this limited means that their results can be influenced and skewed by many variables, including corporate culture and regional practices. It is also possible that their findings are industry-specific and do not pertain to other companies outside of foresting. However, in the articles conclusion, Narver and Slater acknowledge these shortcomings and are eager for others in different regions to conduct further research in this field. Although the limited nature of the study makes it difficult to draw any large scale conclusions about the effectiveness of market orientation, Narver and Slater have created a useful model for an empirical study of market orientation which can now be applied to other industries and regions. The most interesting part of the study is not necessarily the results, but the fact that they were able to design the first successful empirical study. Another problem with the study is that Narver and Slater concluded that an equilibrium existed: the point at which the level of market orientation reaches a point at which its cost is equal to its benefit. At this point, any increase of market orientation would only be detrimental to the firms profit margin. Although the study states that the equilibrium is present, the authors offer no guidance on how marketing managers can identify this critical point. Further studies should be dedicated to answering this question in order to make market orientation a more effective strategy for businesses. Additionally, in the articles conclusion, Narver and Slater neglected to discuss a very key finding which surfaced in their data. Their study revealed that market orientation can have a detrimental effect on a companys overall performance when certain market forces and internal conditions apply. In my opinion, this finding was largely ignored in the conclusion in order to validate their original hypothesis: that market orientation has a positive impact on the performance of an organization. Although this finding was acknowledged in the article, I felt the conclusion was somewhat misleading with regard to the outcome of the study in this respect. Summary of Market orientation: Antecedents and consequences, by Jaworski and Kohli (1993) In Market orientation: Antecedents and consequences (1993) Jaworski and Kohli set out to empirically build upon Narver Slaters study. Jaworski and Kohli attempt to study the relationship between market orientation and its effect on numerous aspects of the firm. The authors lay out a series of 13 hypotheses which they attempt to prove within their study. The four hypotheses that dealt directly with the key questions noted in the introduction of this review are: A. The greater the market orientation of an organization, the higher its business performance. B. The greater the market orientation, the greater the (1) esprit de corps and (2) organizational commitment of employees. C. The greater the market turbulence, the stronger the relationship between market orientation and business performance. D. The greater the competitive intensity, the stronger the relationship between market orientation and business performance. The other nine hypotheses are related to the antecedents of market orientation, including managements role on market orientation and the impact the organizations structure and communication has on market orientation. Although these questions are important, I am primarily interested in Jaworski and Kohlis conclusions on whether or not market orientation affects overall performance and profit/return on equity. Jaworski and Kohli set up two samples from which they derived their data. The first sample was made up of executives from 102 companies; the second sample was made up of 230 executives taken from the membership roster of the American Marketing Association. The authors gathered data via a questionnaire that was sent to participants by mail. Based on the data reviewed, Jaworski and Kohli concluded that market orientation is an important determinant of overall performance regardless of factors such as market turbulence, competitive intensity or technological turbulence. However in both samples, the authors found little correlation between market orientation and return on equity and market share. Jaworski and Kohli also found that the commitment of top management towards implementing market orientation is an important factor on the strategys overall performance, as are the levels of interdepartmental coordination and interdepartmental conflict. Critique of Market orientation: Antecedents and consequences, by Jaworski and Kohli (1993) Jaworski and Kohlis study measures the value that market orientation creates for a business. In their introduction, the authors state their intentions quite clearly: The purpose of this research is to address the voids in knowledge [in the Narver and Slater study]. (Jaworski Kohli 1993) In this study, Jaworski and Kohli build upon and answer many of the questions left unanswered in Narver and Slater (1990). In my opinion, one of the most important aspects of Jaworski and Kohlis article is that they attempted to explain their study in an accessible manner by including a section that dealt with the implications of their findings for market managers. Unlike Narver and Slater, I felt that Jaworski and Kohli went to great lengths to try to answer the key questions that managers might have and attempted to lay down guidelines that managers could use in the implementation of market orientation. Jaworski and Kohli also realized the importance of one of the findings Narver and Slater neglected in their conclusion: that market orientation could be detrimental to a business in certain circumstances. Jaworski and Kohli explained the relationships between market orientation and certain environmental contexts including market turbulence and competitiveness. The aspect of the study that I found most interesting was Jaworski and Kohlis discovery that there is neither an association between market orientation and return on equity nor a relationship between market orientation and market share. Although the two authors still concluded that market orientation was beneficial for overall performance, the finding that it does not help return on equity is very significant. Return on equity, for many firms, is the guiding factor in the decision-making process, especially for private equity groups and investment banking firms. Having worked for a private equity firm, where return on equity is the principal goal, I can confidently say these findings are a huge blow to the advocacy of market orientation. However, I would not feel comfortable ruling out market orientation based on one study; further research must be done on this topic. Additionally, I found one aspect of Jaworski and Kohlis conclusion problematic: the authors concluded that market orientation had a direct relationship with overall performance, organizational commitment and esprit de corps, yet they stated that it did not influence return on equity and market share. This finding seems to be contradictory to common business beliefs, which would suggest that if market orientation had a positive impact on commitment, overall performance and esprit de corps, it would therefore have an impact on profit or return on equity. This finding is either misleading or it indicates that common beliefs regarding performance and employee motivation are incorrect. Summary of Market orientation and company performance: empirical evidence from UK companies by Greenley, G (1995) In the article Market orientation and company performance: empirical evidence from UK companies Greenley identifies a clear need for an  empirical study in the United Kingdom. As of 1995, no major empirical research had taken place anywhere but the United States. Greenley created his study based upon this research gap. His basic hypothesis, that market orientation is positively associated with performance, is taken from the aforementioned studies by Narver and Slater (1990) and Jaworski and Kohli (1993). Greenley also tested additional hypotheses from Narver and Slaters 1990 study. The hypotheses Greenley tested dealt with the relationship between market orientation and cost, size of the company, market entry, customer power and competitive hostility in the market. Additionally, he tested hypotheses pertaining to market growth, turbulence and technological change. To obtain his data, Greenley used a slightly altered version of Narver and Slaters 1990 questionnaire, adapted for UK business culture. The questionnaires were sent to 280 top level managers, mainly CEOs. Of those 280 questionnaires, he received 240 usable responses, which made up the data for his study. Based on the analysis he conducted, Greenley concluded that market orientation does not have a direct affect on performance. (Greenley 1995) He also concluded that with high levels of market turbulence, market orientation is negatively associated with return on equity, whereas with low levels of market turbulence, market orientation is positively associated with return on equity. Critique of Market orientation and company performance: empirical evidence from UK companies by Greenley, G (1995) Greenleys study is the first major empirical study of market orientation in the UK, and quite surprisingly, his results were very different than the previous findings of studies conducted in the United States. Any reader of Greenleys study Market orientation and company performance must immediately question whether or not business culture and practices in the UK are so different from their United States counterparts that one strategy empirically proven to work in the United States will be rendered ineffective in the UK. If Greenleys results are accurate, multinational corporations using a centralized control method would have to rethink using market orientation. This, however, does not seem to be the case. Proctor and Gamble (PG) appear to successfully implement global strategies, including market orientation, profitably. Therefore, I propose that Greenleys inability to find a positive relationship between market orientation and performance is a result of a problem in his data collection process. As Greenley stated in his conclusion, his data was gathered during a recession, and therefore a managers thoughts on a long-term profit schemes such as market orientation might have been skewed. Also, Greenley obtained nearly 60 percent of his data from top level CEOs and Chairmen, a different sampling base than previous studies in the United States. For instance, Narver and Slater used CPUs and Jaworski and Kohli primarily used market managers for their samples. The difference in sample bases significantly impacts the results of Greenleys study; typically, CEOs and top management, like those that Greenley questioned, are not as involved in the day-to-day implementation of market orientation and tend to be short-term profit oriented. Managers lower on the organizations hierarchy, such as marketing managers, might have a more direct involvement with the implementation of market orientation. For future research, I think it would be more prudent to take a broader sample of managers at all levels, thereby eliminating any bias that can occur when only sampling a certain section of the managerial hierarchy. Another problem that I found in Greenleys conclusion was the fact that he did not make the individual participants aware of the studys purpose. Although he intended for this to be a tool for gathering accurate and unbiased data from participants, I believe this strategy actually had the opposite effect, given the timing of his article. During a recession, CEOs and Chairmen are attempting to regain short term profitability and/or attempting to scale down costs in order to survive until the recession ends. At such a time, market orientation would not be a viable option and it is unlikely that the top management Greenley questioned would consider it a useful strategy. Therefore, the data collected by Greenley during this period would have little or no relevance for the measurement of the effectiveness of market orientation outside of a recession. Conclusion All three of the articles discussed deal with the task of empirically studying the relationship between market orientation and its effects on businesses. Narver and Slater produced the first major study in this field and their research became a significant starting point for future studies. Narver and Slaters article stated that they found a direct relationship between marketing orientation and performance; however, the study also brought to light many holes in their research and aspects of this relationship which needed further study. Jaworski and Kohlis 1993 study attempted to answer some of the key questions that arose from Narver and Slaters article. The questions Jaworski and Kohli addressed included why some organizations are more market oriented then others and whether or not the linkage between market orientation and business performance depend on the environmental context. The Greenley study in 1995 was the first major study done outside the United States. Greenley followed Narver and Slaters model in his attempt to empirically study market orientation in the United Kingdom. While his methods were the same, Greenleys research produced very different results than that of Narver and Slater, and only agreed with some of Jaworski and Kohlis conclusions. In my opinion, Greenleys research only added to the confusion that surrounds the study of market orientation; the differences in his results can be attributed to many factors, including gaps in previous research, differences between the United States and the UK, or differences in the economy at the time of the studies. The ambiguous results of this study confirm the need for more research in order to answer the key question of market orientations relationship with performance and profit. Therefore, after reading and critically reviewing the above articles, my conclusion is that further empirical research must be done in order for there to be any confidence in the use of market orientation as a performance-enhancing strategy. A multi-national study or the study of multiple multinational companies would provide valuable insight into whether market orientation is exclusively suited to companies operating in the United States or if its implementation in different countries can also be profitable. Further research must also be done in order to affirm or refute Jaworski and Kohlis claim that market orientation has no positive relationship with market share and return on equity. I believe that if Jaworski and Kohlis claim is true, managers, especially those operating publically traded companies, will inevitably need to rethink the use of market orientation within their corporations. List of References Greenley, G. (1995). Market orientation and company performance: empirical evidence from UK companies. British Journal of Management, 6:1-13. Jaworski, B. and Kohli, A. (1993). Market orientation: antecedents and consequences. Journal of Marketing, 57(July): 53-70. Narver, J. and Slater, S. (1990). The effect of a market orientation on business profitability. Journal of Marketing 54(October): 20-35.

Genesis Chapters 5-9 Essay -- Bible Religion Genesis Religious Essays

Genesis Chapters 5-9   Ã‚  Ã‚  Ã‚  Ã‚   â€Å"The Lord saw that the wickedness of humankind was great in the earth, and that every inclination of the thoughts of their hearts was only evil continually. And the Lord was sorry that he had made humankind on the earth, and it grieved him to his heart. So the lord said, ‘I will blot out from the earth the human beings I have created-people together with animals and creeping things and birds of the air, for I am sorry that I have made them.’ But Noah found favor in the sight of the Lord.†(Genesis 6:5-8)   Ã‚  Ã‚  Ã‚  Ã‚  In this essay I will take an interpretive look at Genesis chapters 5-9. The main focuses will be: the relationship between God, Noah, and Noah’s generation of mankind; the barriers and boundaries for humankind that were present and created by God in these chapters, the characteristics of God throughout the text and the overall importance and message of this passage in the Bible.   Ã‚  Ã‚  Ã‚  Ã‚  In the days of old -when life could reach more than nine hundred years- â€Å"sons of god†(6:2), angels and warriors ruled the earth. One walked the righteous path in the land of the wicked; one saw the grace of the Lord. In these chapters of Genesis, God is seen as an active participant in the story. Through His words and interactions, we can see that His character and relationship towards man is ever-changing and evolving. God is a ruler with expectations. What He had sought out to create in mankind was not being represented, all He saw was evil all the time.(6:5) In Genesis 6:6 we see a God that feels pain from a broken heart. From the grief he has sustained, he demands judgment and justice. His decision and reaction is to destroy all that He has created.(6:7) The Lord’s character here is repentant, judgmental and a potential destroyer. In His grief He finds â€Å"favor† for one man: Noah.(6:8) Though it was only one man in an entire genera tion, we see the grace of God present here. Because of Noah, God finds himself modifying his plans, â€Å"the planned destruction becomes a reconstruction† of this earth.(Harper Collins, Study Bible, Notes pp.13) In Genesis chapter 6, we begin to see a God that is forewarning. The lessening of life, to that of one hundred and twenty years, is a disciplinary measure taken due to His displeasure with humankind. This punishment was a warning in and of itself. In Genesis 6:13, God gives a direct warning to Noah ab... ...his creating of the flood. If not for Noah there would have been no human community left at all. Though some may disagree with me, I believe the decreasing of the human life span to be the biggest boundary God has ever put on mankind. Besides the spirit of God, what is more than life itself in this existence of being?   Ã‚  Ã‚  Ã‚  Ã‚  Most everyone knows something about the story of Noah and the great flood. It is one of the most illustrated and common stories from the Bible. The knowledge that God was angry, Noah built an ark to carry animals and then there was a flood that killed everything. Though this is the basic picture of the story, it does not capture alone the main point of the story. God’s saving grace is the message. Believe and follow in the path of the Lord and salvation will be yours. All of God’s characteristics and boundaries he conveyed spawn off of the following of this or the ignoring of His omnipotent power and being. Just like in much of the text in the Bible, you have to read between the lines to find the meaning; the same is true for Genesis 5-9. Works Cited Meeks, Wayne A., ed. The Harper Collins Study Bible. New York: Harper Collins Publishers Inc., 1993.

How to Support Bilingualism in Early Childhood Essay

Bilingualism is very important. Although most people speak English in this country, there is not really a national language in the United States of America. However, speaking more than one language will, without a doubt, get you father. Many children that enter early childhood centers have another primary language. Although it is very important that all the children learn English, it is just as important that they do not lose their first language. Besides being able to keep close to your roots and communicate with your family, being bilingual can open doors professionally. This in itself is a great reason to make sure schools support bilingualism. Accepting the child’s first language is a great step to show respect for the child and his culture and family. This acceptance is important in the early years, especially when the child first enters preschool / daycare. In showing tolerance and acknowledgement to the primary language, the child will feel comfortable in the classroom and this will make the transition to go much smoother. This article continues to explain ways in which educators and school staff can support bilingualism. Preschools and daycares play an important role in the lives of the children. The seeds we plant about bilingualism will grow forever in that child. As we accept and learn, so will the children. If we were to treat this in a negative manner, the children will perceive it that way as well. Getting to know the families in our centers is imperative. Knowing what language they speak and where they come from is a sure way to make them feel secure and comfortable. As stated in the article, the attitudes of the staff are essential to supporting bilingualism. Making sure that staff members speak both English and another language (majority at center) is the first step in having a bilingual school/program. It is never â€Å"ok† to simply disregard the native language of the child or the child’s family. Parents should continue to speak in their native language and no one should make that child feel embarrassed or ashamed to speak another language. This article is pro children and pro responsibility. As educators, it is our duty to have our children reach for the highest goal possible. It is our responsibility to take the children far in life. Guiding children and their families towards bilingualism is a great way to give value to immigrant families. Achieving the â€Å"American dream† does not mean leaving your roots behind. Having a strong self-esteem includes being proud of ourselves and where we come from. Teachers need to nurture this.

Benefits of Project Management - 1618 Words

BENEFITS OF PROJECT MANAGEMENT INTRODUCTION What is project management? It can be defined as range of management skills and technique that involved to successfully carry out a project. Project manager are responsible to facilitate the entire process of project management to meet specific scope, cost, time and quality goals of projects. Besides that, there are some people involves in framework of project management including project stakeholders, project management knowledge areas, project management tools and techniques and the contribution of successful project to enterprise. Project stakeholders are the people involved in or affected by the project activities an includes the project sponsor, project team, support staff,†¦show more content†¦No time consuming acquired which can lead to waste of money because there are time estimated for each phases to be done. The process involved defining activities, developing the schedule and controlling the schedule. Besides that, it also can improved and enhance the customer satisfaction which whenever the project done on time and under budget, it makes the clients satisfied, Therefore, it show the importance of project scope management and project cost management roles in integrating the system or products for the customers. Smart project management provides the tools that enable the customers’ relationship to continue. Therefore, it is important to support your staff after finish the project successfully. Provide them training to use the system or services wisely. However, limit the time of support to customers to avoid the trap never being able to finish a project. Therefore, agree up front with your customers how long you will provide support for. This period of time should be built into Project Plan. Moreover, project management can improve growth and development within your team. That is because, during the implementation of project, the managers and their teams are cooperating together in order to establish the project that be given. Human resource management involved to ensure that all the teammates are knows their roles and responsibilities. Therefore, identifying the human resource plan are important toShow MoreRelatedBenefits And Challenges Of A Project Management Methodologies And Certification Essay1761 Words   |  8 PagesThis essay explores evidence for the benefits and challenges that an increased interest in project management methodologies and certification present to the theory and practice of change throughout, making use of academic literature. As well as providing evidence for the stated increased interest, it defines the terms pertinent to the discussion: Project management (PM), PM methodologies, bodies of knowledge and certification. It also defines Change m anagement (CM), theory and practice. It turns toRead MoreProject Management : The Accumulated Benefits For My Future Career Essay2011 Words   |  9 Pagesprogram of Mater Science in Project management, the accumulated benefits for my future career, and some valuable advices regarding the personal experience for students who are preparing for enrolling in this program. Career advancement â€Å"Project management is a growing filed used increasingly by businesses of all sizes† (Harbour). In other words, project management occupies a significant position during the development of the company. Without well designed and planned management, any entrepreneurs andRead MoreProgramme Management : Program Management1121 Words   |  5 PagesProgramme Management Approach There is confusion in literature regarding the definition of programme management. Tjahjana, Dwyer and Habib (2009) describe programme management as the alignment of ongoing projects within an organization. Pennypacker and Ritchie (2005), on the other hand, define it as the application of knowledge, skills and techniques to programme activities to meet the programme requirements. Morris and Jamieson (2004) argue that most companies consider that programme management impliesRead MoreProject Portfolio Management1298 Words   |  6 PagesProject portfolio management:- A competitive advantage for organizations now is doing the right projects and making sure that there are resources to complete those projects. Project Portfolio Management (PPM) is a set of business practices and a process that allows organizations to manage projects as a strategic portfolio, ensuring the alignment of programs and projects with organizational objectives. Executives need to regularly review entire portfolios and programs, determine why projects areRead MoreThe Importance and Implementation of Project Management1552 Words   |  6 Pagesprioritization helps one set their goals in order. This means that one does not become workaholic and is able to dedicate appropriate time to family and work. The same kind of order and organization is necessary for a firm to fulfill its main goals. Project Management dates back to the 1960s where it was first adopted by the US government when it divided its many functions into separate programs, like the space and military programs. This began because managers and organizations learned that division of workRead MoreProject Management in Bangladesh - Term Paper1639 Words   |  7 PagesProject Management - Overview Common misconceptions about Project Management Here are some questions we hear frequently that demonstrate a misunderstanding of project management: What does the project manager do? Why doesnt the project manager do some of the work? Why dont we make our top specialist the project manager? Why does the project manager need a support team? Isnt this all an unnecessary overhead for the project? Project management is a specialist discipline. In a wellRead MoreHardware Replacement Project1364 Words   |  6 PagesAssignment Week 8: Hardware Replacement Project Melanie Sexton IT/205 May 8, 2011 Charbel Elkhoury, Ph.D. Assignment Week 8: Hardware Replacement Project Prior to the IT department’s implementation of a new Customer Relationship Management (CRM) solution to its corporate offices, assessment of company’s hardware currently in use and its ability to support the new CRM application revealed the information technology infrastructure contained out-of-date hardware in need of replacementRead MoreOrganization Planning, Project Management, and Information Technology1319 Words   |  6 PagesApplication: Organization Planning, Project Management, and Information Technology The successful implementation and subsequent meaningful use of information technology solutions within a health care organization is a challenging and iterative process. The organization must engage in careful and ongoing strategic and tactical planning to ensure that the implemented technology will ultimately be effective and beneficial for its practitioners, staff, and patients. To prepare for this ApplicationRead MoreHardware Replacement Project1378 Words   |  6 PagesHardware Replacement Project NAME Axia College of UoP Hardware Replacement Project As the IT department begins to plan for and implement a new customer relationship management (CRM) solution in the corporate office, there are several variables that must first be thoroughly examined. The IT department must address the needs of the office, as well as the legacy hardware and software currently in use. It is apparent that current IT infrastructure will not support the introduction of a new CRM applicationRead MoreProject Management Approach / Methodology Essay939 Words   |  4 PagesProject Management Methodologies MedDev is looking to streamline their resource planning across various departments in order to support their global growth and cut costs. In order to achieve this business objective, they are undertaking ERP Implementation as a Key project which involves largest investment MedDev has ever done as a single project. Thus success of this project is of prime importance to them. In order to achieve their business objective, project management and the used methodology