Quality Brands and Trusted Retailing †Free Samples to Students

Question: Examine about the Quality Brands and Trusted Retailing. Answer: Presentation: The article is taken from Harvard Business School; it clarifies secretarial has control at the bleeding edge of globalization over the previous decades (Thompson 2016). In the year 2010, in excess of 100 nations incorporate every single significant economy of the world that have acknowledge either broad arrangement of secretarial way of thinking that is named as International Financial Reporting Standards. The IFRS have begun an IFRS harmonization plan that puts a national methodology in light of IFRS. For this situation, the multiplication of IFRS considered as one of the noteworthy extension in ongoing business incomparability (Dufour, Teller and Luu 2014). There is a progression of case that review the economies of nations, for example, Canada, India and China. It is broke down that there is likenesses just as contrasts that is available in the universal political elements that targets contributing towards nations reaction towards International Financial Reporting Standards. In th is system, it is basic for clarifying just as anticipating the choices made after usage of IFRS harmonization and potential structure that incredibly impacts the bookkeeping in the given structure (Samujh and Devi 2015). The globalization of secretarial standards has been noted through the multiplication of IFRS in and over the world and is one of the most noteworthy developments in corporate authority over past decades (Rugman 2016). It is important to break down overall supporting energetic of nations IFRS harmonization judgment. From the given purviews, it is required to portray the uncommon essentials of local political budgetary framework that are forming with the IFRS strategies. Besides, Harmonization intends to all the endeavors that remember falling of decent variety for secretarial act in and over the globe when meeting implies occasions that are embraced by singular nations throughout moving from across the nation GAAP to IFRS in the wake of making the correlation (Dufour, Teller and Luu 2014). There are four crucial suspicions in IFRS harmonization that incorporate collection premise, going concern, stable estimating unit notion and unit of consistent buying power (Nurunnabi 2017). To clarify every one of the suspicions, these are as per the following: Gathering premise The main supposition that is collection premise of bookkeeping where the aftereffect of dealings just as different procedures are reachable when they happen and not as money as it is increment or salaried (Nurunnabi 2015). Going concern-The second suspicion of IFRS is going worry that is an element that will carry on for the anticipated possibility. Consistent estimating unit notion The third supposition that is steady estimating unit presumption of IFRS harmonization where the budgetary capital upkeep particularly in assumed monetary units (Nobes 2015). Units of stable buying authority-The forward supposition of IFRS harmonization is units of stable buying power. This is the financial maintaining in units for stable buying authority at the hour of either collapse or swelling. All things considered, dismissal of the steady estimating unit suppositions for future investigation reason (Dufour, Teller and Luu 2014). Relevant issues of executing IFRS in rising economies and in created nations The title of the main chose article is An investigation of the institutional and monetary determinants of IFRS selection in developing economies (Dufour, Teller and Luu 2014). This article clarifies the relevant issues that are utilized in the wake of executing IFRS in rising economies and created nations. The principle reason for the area is to find the essential presumptions of institutional just as money related system theory that either bolsters or supports promising budgetary framework result for receiving IFRS (Nieman and Fouch 2016). The title of the subsequent article is Accounting for a creating world-A glance at global gauges on creating nations. The primary reason for the area is to analyze the bookkeeping issues in creating in and over the world just as approaches that are utilized for expanding the viability and unwavering quality of bookkeeping and money related announcing of the created nations (M?s?rl?o?lu, Tucker and Ykseltrk. 2013). It is important to take a gander at the impact for actualizing IFRS in created nations and reasons concerning why some created nations select not to utilize IFRS. It is in this way expected to make suggestions with the goal that countries execute IFRS just as approaches as the best traits situated in the past nation contextual investigations and discoveries. It is noticed that creating nations for the most part have a built up bookkeeping just as inspecting convention (Dufour, Teller and Luu 2014). Expansion to that, the creating nations regularly need solid expert bookkeep ing body in the event that they have it even one by any stretch of the imagination. The hidden issue distinguished is the deficiency of talented expert bookkeeping workforce in and across countries. All things considered, it predominantly forestalls the advancement of a well-working money related condition. Nations, for example, Ghana have inadequate assets for training organizations where secretarial is encouraged that incorporate absence of achieved instructors, ill-advised structure for planning and educating of bookkeepers and absence of instruction materials. A large portion of the nations even faces ominous world of politics where defilement is normal just as straightforwardness is restricted in nature (Kothari, Ramanna and Skinner 2015). The title of the third article is Are IFRS harder to actualize for rising economies contrasted with created nations. In genuine practice, it is contended that overall secretarial harmonization strategy significantly faces instructive encounter during intense conditions of given secretarial improvement (Kossentini and Othman 2014). All things considered, it is accepted that encounter is felt more in the rising nations on contrasting it and the created nations. This area breaks down the writing on promising nations that don't have any interchanges or the genuine needs that legitimizes an improvement of global harmonization with the exception of there is requirement for showing an IFRS mark. It for the most part encourages evaluation that is utilized for taking a gander at the firm and looking at it between rising economies and created money related markets (Dufour, Teller and Luu 2014). In the wake of taking a gander at the way of life among Anglo and American, it draws near to IFRS th at prompts a multifaceted nature subsequent to receiving these standards by any nation where one of a kind secretarial plan is mainland. What's more, these nations receives the strategy of overall harmonization starts with a repugnance for the Anglo-Saxon secretarial society where the later is disparate from the mainland secretarial social at different levels (Hong, Hung and Lobo 2014). From the over three articles, it is comprehended that defilement prospers when there is little government straightforwardness, absence of education just as no opportunity of data enactment as there is absence of the right to speak freely of discourse and broken government frameworks (He, Wong and D. Youthful. 2012). A large portion of the lesser created nations frequently need required money related just as specialized limit that is regularly undisclosed to its residents. Expansion to that, there is absence of remiss monetary controls, powerless establishments, procedure of government just as bogus government fiscal summaries that is undisclosed to the residents. Disclosure of storehouse just as monetary association is regularly questionable or beguiling, which limits abroad hypothesis and the extension of assets markets. Without steady fiscal assertion, investor is reluctant to assume the dangers of absence of effortlessness and financial specialist protection. While only one out of every odd country faces these issues, a large portion of them have probably a portion of the issues that are recorded and need appropriate consideration (Dufour, Teller and Luu 2014). Moreover, it makes for unfavorable environmental factors in which to develop cost-adequately and do exchange. Notwithstanding that, it requires usage of adequate secretarial standards significantly more unpredictable in conditions that is not exactly great. However, progressing to show signs of improvement on the secretarial and money related foundations will assist with facilitating a portion of these issues that this country face (Dufour, Teller and Luu 2014). Utilization of IFRS in Wesfarmers Limited and Woolworths Limited Wesfarmers Limited is one of the retail organizations that is recorded in Australian Listed Exchange and involves the most elevated spot as far as income. Wesfarmers Limited perceived an IFRS Project Team for dealing with the change to Australian equivalent IFRS toward the finish of 2003 (Wesfarmers.com.au. 2016). Besides, this undertaking group comprises of task support, full time venture bookkeeper, controlling board of trustees just as undertaking working gathering. This undertaking bookkeepers just as operational gathering individuals cooperates with administration from the guiding board and work for the task for over a year and had effectively accomplished different achievements, for example, recognizing all secretarial technique change, evaluation of the regular of money related crash with the exemption that have a progress date other than first July 2004 just as deciphering by outer gatherings (Dufour, Teller and Luu 2014). Wesfarmers Limited is right now searching for explana tion from the dire issues bunch that goes under worker share plan in agreement to IFRS. This is under the new Australian reciprocals where IFRS seems, by all accounts, to be two elective bookkeeping medicines. In this, the principal elective is relevant to AASB 2 to the issue of offer segment just as advantage to the worker from the plan with the advance segment and the advantage given to the representative in the wake of orchestrating accounts that is in agreement to the necessities of AASB 139. Moreover, the subsequent elective treats the general game plan that awards for choices under the bookkeeping standard (AASB

Nokia’s Blue Ocean Strategy Essay

In today’s packed ventures, contending head-on brings about only a wicked â€Å"red ocean† of adversaries battling about a contracting benefit pool. A few Companies are battling for an upper hand or over piece of the overall industry while others are battling for separation. This technique is progressively improbable to make beneficial development later on. Nokia , the Finland’s falling cell phone organization has seen its piece of the pie and offer value tumbling significantly by 90% since 2007 and the organization is yet to accomplish the rebound it trusts. Rather than contending in such red expanse of wicked rivalry, Nokia should make savvy key moves by making uncontested market space that would make the opposition superfluous. Blue sea is then worried about obscure markets where openings proliferate. Above all else, this investigation will basically be assessing Blue Ocean Strategy by featuring the six rules that Nokia can use to effectively figure and execute Blue Ocean Strategies. Also, we will concentrate on the correlation and difference of red and Blue Ocean, lastly, this task will focus on a clarification of the advantage and issues of Group Work. Blue Ocean Strategy Blue Ocean procedure challenges Nokia to break out of the red expanse of bleeding rivalry by making uncontested market space that makes the opposition insignificant. Rather than splitting existing and frequently contracting request and benchmarking rivalry, blue sea methodology is tied in with developing interest and splitting ceaselessly from rivalry. This includes making blue seas in a keen and dependable manner that is both happenstance boosting and chance limiting. Making uncontested new market space To win later on, Nokia must quit contending with rival firms in the clash of cell phones in light of the fact that the best way to beat the opposition is to quit attempting to beat the opposition since the principles of the game are yet to be set. Since activities improve, markets extend, and players go back and forth, it is a major test for Nokia to proceeding with formation of blue seas. Here, the key move would be the correct unit of investigation for clarifying the production of blue seas and supported elite. A key move is the arrangement of administrative activities and choices associated with making a significant market-making business offering. Likewise, Nokia needs to concentrate on esteem development which is the foundation of blue sea technique. Be that as it may, once more, rather than beating the opposition, Nokia should concentrate on making the opposition unimportant by making a jump in an incentive for purchasers and the organization, accordingly opening up new and unc ontested market space. Detailing and executing Blue Ocean Strategy To prevail in Blue Ocean, Nokia needs to consider the standards and expository structures that are fundamental for making and catching the methodology. Nokia’s officials must be bold and innovative, they ought to gain from disappointment, and search out progressives. Powerful blue sea procedure ought to be about hazard minimisation and not chance taking. The apparatuses and structures introduced include: * The procedure canvas: it a demonstrative and an activity system for building a convincing blue sea methodology which fills two needs. In the first place, catching the present condition of play in the realized market space, permitting you to comprehend where the opposition is right now contributing, the components the business as of now contends on in items, administration, and conveyance, and what clients get from the current contending contributions available. Second, Nokia’s officials ought to essentially move the system canvas of its tasks by reorienting the key concentration from contenders to choices, and from clients to non clients of the business. * The four activities structure comprises of reproducing purchaser esteem components in making another worth bend. These activities comprise of wiping out the elements that Nokia underestimates, diminishing components well beneath Nokia’s standard, raising variables well above Nokia’s standard, and making factors that Nokia has never advertised. * The Eliminate-Reduce-Raise-Create Grid is vital to production of blue seas. The network will push Nokia to follow up on every one of the four to make another worth bend. By doing it, the framework will give four prompt advantages: * Pushing Nokia to at the same time seek after separation and low expenses to sever the worth cost exchange. * Lifting its cost structure and overengineering items and administrations * Creating an elevated level of commitment in its application since it is effortlessly comprehended by administrators. * Scrutinizing each factor Nokia contends on, causing it to find the scope of understood presumptions they make unknowingly in contending. A powerful blue sea technique has three correlative characteristics: center, dissimilarity, and a convincing slogan. To make its opposition superfluous, Nokia should then apply the standards of Blue Ocean Strategy to succeed. Standards of Blue Ocean Strategy Six standards will control Nokia Corporation through the plan and execution of its Blue Ocean Strategy in a methodical hazard limiting and opportunity expanding way. The initial four standards address Blue Ocean Strategy detailing. * Reconstruct advertise limits. This standard distinguishes the ways by which Nokia’s the executives can deliberately make uncontested market space across differing industry fields, along these lines constricting inquiry chance. It will educate Nokia’s the board how to make the opposition unessential by looking over the six traditional limits of rivalry to open up industrially significant blue seas. The six ways center around looking across elective ventures, across key gatherings, across purchaser gatherings, across correlative item and administration contributions, over the practical passionate direction of an industry, and even across time. * Focus on the 10,000 foot view, not the numbers. This represents how Nokia’s the executives can structure the business’s vital arranging procedure to go past steady upgrades to make esteem development. It depicts a choice to the current key arranging process, which is regularly reprimanded as a calculating activity that keeps organizations drew in into making steady upgrades. This guideline challenges hazard arranging. Utilizing an envisioning approach that drives administrators to concentrate on the 10,000 foot view as opposed to be lowered in numbers and language, this rule proposes a four-advance arranging activity whereby Nokia could fabricate a system that will make and catch blue sea openings. * Reach past existing interest. To make the biggest market of new interest, Nokia’s the board must test the traditional act of grasping client inclinations through better division. This training frequently brings about progressively little objective markets. Rather, this guideline tells the best way to total interest, not by concentrating on the distinctions that different clients however by expanding on the amazing shared characteristics across noncustomers to amplify the size of the blue sea being made and new interest being opened, along these lines limiting scale hazard. * Get the vital succession right. This guideline depicts a succession which Nokia ought to follow to guarantee that the plan of action they construct will have the option to create and keep up beneficial development. At the point when it will meet the arrangement of utility, value, cost and reception necessities, it will at that point address the plan of action hazard and the blue sea thoughts it made will be a financially feasible one. The staying two standards address the execution dangers of Blue Ocean Strategy. * Overcome key hierarchical obstacles. Tipping point administration shows how Nokia’s the executives can prepare an association to beat the key authoritative obstacles that hinder the usage of a blue sea methodology. This guideline tends to authoritative hazard. It sets out how Nokia’s officials in like manner can defeat the subjective, asset, persuasive, and political obstacles notwithstanding constrained time and assets in executing blue sea technique. * Build execution into technique. By incorporating execution into methodology making, Nokia’s staff are inspired to seek after and execute a blue sea procedure in a continued way incomprehensible in an association. This guideline presents reasonable procedure. Since a blue sea technique forcibly of need speaks to a takeoff from the state of affairs, reasonable procedure is expected to encourage both methodology making and execution by energizing individuals for the intentional participation required to achieve blue sea system. It manages the board chance related with people’s stances and direct. Red and Blue Ocean procedures Competition-based red sea system expect that an industry’s basic conditions are given and that organizations are compelled to contend inside them. Essentially expressed, red sea methodology is tied in with outpacing rivals in existing business sector. The vital decisions for firms are to seek after either separation or minimal effort. On the other hand, blue sea system depends on the view that showcase limits and industry structure are not given and can be reproduced by the activities and convictions of industry players. Obviously, blue sea system instructs how to escape built up showcase limits to abandon the opposition, making it insignificant. The table underneath plots the key characterizing highlights of red and blue sea systems.

Archers Organic Foods Essay Download Pdf - Free Essay Example

I. Introduction Archers Organic Foods plc is a producer and distributor of organic foods. The company is looking to expand the business by acquiring a farm in the North of England. This report analyses the financial viability of two farms by using a number of investment appraisal methods. The two farms differ in their initial investments, sales and costs. The freehold of option 1 farm will be acquired at the beginning of the project. The farm in option 2 will be taken on a 10-year lease with deposit and annual rent payments. The report makes a recommendation on the final selection of a farm by evaluating the results, strengths and weaknesses of four investment appraisal methods. The four investment appraisal methods used in this report are the Accounting Rate of Return (ARR), payback period, Net Present Value (NPV) and Internal Rate of Return (IRR). The results of the four investment appraisal methods may not be similar because of differences in their approaches and calculations. Hence, it is beneficial to use more than one investment appraisal method and understand the benefits and limitations of each method before making a final decision. II. Investment appraisal methods The four investment appraisal methods can be classified into two main categories. The ARR and payback period are non-discounting methods whereas the NPV and IRR are discounting methods. The ARR method measures the accounting profit rate by dividing the average income by the average investment (Hansen and Mowen, 2007, p. 568). The method is simple to use but has major limitations. It ignores the time value of money which is a major drawback in case of projects with long lives. Also, a benchmark rate is required for comparison. The payback period calculates the time required to recover initial investment from the operating cash flows of a project (Brigham and Houston, 2007, p. 373). Shorter payback period projects are preferred as they generate cash equal to initial investment in a shorter duration and this can be viewed as a proxy of risk. However, the payback period method ignores the time value of money (Kinney Raiborn, 2011, p. 655). It also ignores the cash flows after th e payback period which could result in a selection of a project that adds less value. The NPV method calculates the net value of a project by discounting the cash flows at a rate which reflects the risks of those cash flows. The discounting of the future cash flows is a major advantage of the NPV method over the non-discounting methods. This is very important for valuing the two alternatives as cash flows are spread over 10 years. The drawback of the NPV method is that it assumes constant gearing to maintain same cost of capital. This rarely happens as cash inflows over the period change the gearing. A company will have to issue debt regularly to maintain same gearing (Delaney, 2008, p. 37). This is difficult to do due to administrative issues and costs. It is also not easy to calculate cost of capital that is used for discounting cash flows (Howe, 1992, p. 34). Finally, the NPV method is not useful on its own when a company faces capital rationing. The profitability index may have to be used along with the NPV to evaluate investments in a capital rationing scenario. IRR method also discounts the future cash flows and gives the cost of capital at which the NPV would be zero. This gives an idea about the margin of safety that is available in terms of possible decline in the rate of return before it equals cost of capital. The limitation of the IRR method is that it can give two IRRs for same set of cash flows if the pattern of cash inflows and outflows reverses more than once during the life of a project (Brigham and Daves, 2009, p. 421). It also assumes that cash inflows during the life of a project will be reinvested at the IRR which may not be true as the firm may not have similar opportunities to invest in. The investment appraisal methods have their pros and cons and it is useful to use more than one method to get a better picture. III. Results of investment analysis The first option is the freehold acquisition of a farm at  £1,500,000. The calculations and results of the investment appraisal methods of option 1 are shown in appendix I. It is assumed that the farm will be sold for  £1,500,000 at the end of 10 years. It implies that the average investment over the period will be  £1,500,000. ARR = Average profit / Average investment =  £313,000 /  £1,500,000 = 20.83% The cumulative cash flows turn positive for the first time in year 6. Payback period = 5 + (245,000/360,000) = 5.68 years. The NPV of option 1 is  £739,000 and the IRR is 19.43%. The second option is to lease a farm for 10 years. A down payment of  £300,000 will be made at the beginning of the 10-year period. It is assumed that the down payment will be returned at the end of 10 years. The average investment will be  £300,000. The calculations and results of the investment appraisal methods of option 2 are shown in appendix II. ARR = Average profit / A verage investment =  £190,000 /  £300,000 = 63.33% The cash flows are adjusted to reflect the fact that annual rents will be paid in advance. The rent for year 1 will be paid at the beginning and hence shown in year 0. The rent for year 10 will be paid at the end of year 9 and hence  £150,000 cash is added back to the profits of year 10. The cumulative cash flows turn positive for the first time in year 5. Payback period = 4 + (160,000/190,000) = 4.84 years. The NPV of option 2 is  £623,000 and the IRR is 27.48%. IV. Analysis of results The ARR of option 1 is 20.83%. There is no benchmark available for comparison but it is significantly more than the cost of capital of 12% and hence the ARR method approves investment in option 1. The payback period is 5.68 years. Though the payback period is significantly lower than the 10-year life of the project, it does not meet the 5-year cut-off period set by the finance director. Hence, the investment in option 1 is not approved under the payback period method. The NPV of option 1 is very high and positive  £739,000. Purchase of the farm will increase the net value of the firm by  £739,000 over a period of 10 years and hence the investment is approved under the NPV method. Finally, the IRR of 19.43% is also higher than the cost of capital of 12% which again approves the purchase of firm. The ARR of option 2 is 63.33% which is substantially higher than the cost of capital of 12% and hence the ARR method approves investment in option 2. The payback period is 4.84 yea rs and it meets the 5-year cut-off period set by the finance director. The investment in option 2 is also approved under the payback period method. The NPV of option 2 is positive  £623,000. Option 2 is also approved under the NPV method. Finally, the IRR of 27.48% is also higher than the cost of capital of 12% which again approves the purchase of firm. Option 2 is preferred over option 1 by the ARR, payback period and IRR methods. However, the option 1 is preferred over option 2 by the NPV method because the NPV of option 1 is more than that of option 2. The difference results under the various investment appraisal methods are not unexpected. The ARR and payback period methods do not discount the future cash flows. This is a major drawback in this case as cash flows are spread over a long life of 10 years. Also, the cost of capital is a high 12% and not discounting the cash flows does not reflect the risk of the investment. In view of the above arguments, the results of the ARR and payback period methods should be viewed with caution. The NPV method favours option 1 as its NPV is  £116,000 higher than the NPV of option 2. However, option 1 uses higher initial investment and this is reflected in its IRR which is lower than that of option 2. The company should opt for option 1 as it adds the maximum net value to shareholders. However, if funding is restricted than option 1 should be preferred because it adds higher net value per unit of investment. The net value per unit investment is  £2.08 for option 2 as compared to  £0.49 for option 1. In addition to the above analysis, the investment decision should take into account few other but important points into consideration. Firstly, in the analysis of option 1, it was assumed that the farm will be sold for  £1,500,000 after 10 years. However, the prices of land and farms have increased in the recent years. The table below shows the sensitivity of the NPV to the changes in price of the farm. An annual farm price inflation of 6% over a 10-year period would substantially increase the NPV to  £1,121,000. This is a significant jump. Even if the annual farm price inflation is -2%, the NPV is still positive. On the other hand, the changes in farm prices would not have any impact on the NPV of option 2. The possible significant benefit from purchase of a farm should also be included in final decision making. Secondly, the evaluations are also sensitive to changes in cash flows. Projections are rarely met in practice (Arya et al., 1988, p. 499). It is difficult to accurately predict cash flows over a 10-year period because of a number of factors. The demand may change due to economic-wide changes. The costs of raw materials and labour may rise faster than anticipated. Adverse weather may also play havoc on the production. Hence, it is beneficial to do a sensitivity analysis of cash flows. It is assumed that the variable costs will move in direct proportion to the changes in revenues. The tables below show the sensitivity of the NPVs to changes in sales and variable costs. The above tables show that option 2 is more sensitive to the changes in sales and variable costs. At 80% of the base case sales and variables costs, the NPV of option 1 is significant positive but that of option 2 is marginally positive. The option 2 will turn into a negative NPV investment if actual cash flows are just less than 80% of the projected cash flows. Thirdly, the NPV is also sensitive to changes in the cost of capital. The tables below show the sensitivity of the NPVs of two options to changes in the cost of capital. Option 1 is more sensitive to changes in the cost of capital. The company should analyse the likely increases in the cost of capital over 10 years before making a final decision. In addition to the above-discussed points, the company should also analyse some of the key non-financial matters to ensure that the investment will yield positive results. It should analyse whether there would be local demand for organic foods in case of each option. Organic foods are sold at a premium to inorganic foods. The buying power of consumers is linked to the general overall economic conditions. The UK economy is passing through a tough phase with consumers concerned about government cuts in public expenditure. This may make it difficult for the company to sell its produce in the local region. The company should also consider the resources that would be involved in effective monitoring of the farm in the North as opposed to current operations in the South. Monitoring and control is important for success of an investment and long-distance could hamper it. V. Conclusions The results of four investment appraisal methods did not match and there is no unanimous choice. Option 2 is preferred on the basis of the ARR, payback period and IRR methods. Option 1 is the preferred option because of its higher NPV and the possibility to gain from an increase in farm prices. The NPVs of two options are also sensitive to a number of factors like cost of capital and changes in sales and variable costs. The NPV of option 2 is more sensitive to changes in cash flows whereas the NPV of option 1 is more sensitive to changes in the cost of capital. VI. Recommendations The recommended option is option 1 because of its higher NPV and also the potential to reap even higher benefits due to increase in value of farm over 10 years. If the project does not meet sales expectations, the company will have the option to sell the farm and exit early in option 1. On the other hand, the company will end up paying lease rent for 10 years in option 2. References Arya, A., Fellingham, J.C., and Glover, J.C., 1988. Capital budgeting: Some exceptions to the net present value rule. Issues in accounting education, Vol. 13, No. 3, pp. 499-508. Brigham, E.F., and Daves, P.R., 2009. Intermediate Financial Management. 10 edn. South-Western Cengage Learning. Brigham, E.F., and Houston, J.F., 2007. Fundamentals of financial management. 11 edn, Thomson Higher Education. Delaney, C.J., Rich, S.P., and Rose, J.T., 2008. Financing costs and NPV analysis in finance and real estate. Journal of Real Estate Portfolio Management, Vol. 14, Issue 1, pp. 35-40. Hansen, D.R., and Mowen, M.M., 2007. Managerial accounting, 8 edn. Thomson South-Western. Howe, K.M., 1992. Capital Budgeting Discount Rates Under Inflation: A Caveat. Financial Practice Education, Vol. 2, Issue 1, pp. 31-35. Kinney, M.R., Raiborn, C.A., 2011. Cost Accounting – Foundations and Evolutions. 8 edn, South-Western Cengage Learning, Mason.

The United States Is Falling Behind Of Tertiary Education

The United States is falling behind in tertiary education. Generalized testing scores in secondary schools are dropping and have been for the past few years. As a result the U.S. college admittance percentages are the lowest they have been during the past decade. This has not only affected college admittance levels; lamentingly, college graduate percentages have also suffered. A statistical report by journalist John Cookson confronts this difficult truth, saying, â€Å"What about college? The U.S. once led the world in college graduates . . . But this number has flat-lined for Americans . . . Meanwhile, other nations have caught up, and some have pulled ahead.† It has been proven that a successful country is an educated one. Labor workers are important, but having a strong educated work force will benefit the future success of the United States. As technology continues to advance, world marketing and international occupations are becoming more common. Without the necessary edu cation, the U.S. will not be able to compete in this new, highly competitive job market. According to the Organization for Economic Cooperation and Development (OECD), some countries, such as South Korea, Poland, Japan, and the United Kingdom have increased the amount of tertiary degrees 10 to 30 percent in the past 12 years. To ensure security and success for the future generations, a few changes will need to be made. These changes include requiring a higher education for teachers, spending moneyShow MoreRelatedCurrent Proposed Cuts University Funding Will Damage Australia s Education System Essay1693 Words   |  7 Pagesuniversity funding will damage Australia’s education system The Australian education system provides primary, secondary and tertiary education. School education is primary and secondary while tertiary education includes both higher education (including universities) and vocational education and training (VET) (Elcom 2013). 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The Legacy Of John Caldwell Calhoun - 1555 Words

John Caldwell Calhoun was born March 18th, 1782 in Abbeville, South Carolina. In the year 1807, John Calhoun received admission to the South Carolina bar and practiced law. The year after, he was elected into the state legislature of South Carolina, where he served for two years leading to his election to the U.S House of Representatives in the year 1810. In 1817, John Calhoun was appointed as Secretary of War by President Monroe, in which during his term, he made substantial changes to the War Department. Calhoun served two terms as Vice President: in 1825 with John Quincy and in 1829 with Andrew Jackson. In 1832 he quit his Vice President position and returned to South Carolina as a Senator, a position which he held for eleven years. In†¦show more content†¦Then he served as a Senator of Kentucky from the years of 1806 and 1807, and returned to the State House of Representatives, from the years of 1807 until 1809. Henry then returned to the Senate until 1811. Clay became one of the leaders of an anti-British group known as the War Hawks while he was a U.S Representative from 1815 to 1825. After his term as Secretary of State, Henry returned to the U.S Senate from 1831 to 1852. Clay’s recognition as a compromiser originated from his involvement in the Missouri Compromise. Henry’s appointment as the Secretary of State caused controversy. His pursuit for the Presidency in the 1824 election ended with no majority for any of the candidates. Clay supported John Adams instead of Andrew Jackson, which violated the instructions of the Kentucky legislature. Due to the informal precedent that the Secretary of State would eventually assume the presidency, Jackson supporters pictured Clay’s position as Secretary of State as a â€Å"corrupt bargain.† Nevertheless, Clay had experience as a diplomat and a goal to pursue as Secretary of State. Clay served in the Peace Commission after the War of 1812 which negotiated the Treaty of Ghent with the British in 1814. As one of the commissioners, Clay urged to keep the British from receiving free navigation on to the Mississippi River. Clay had based his policy plan on the â€Å"American System,† dwelling upon the federal support of the national economic development. To that time in history, Clay hadShow MoreRelatedProject Mgmt296381 Words   |  1186 Pagescase, and example in the text is drawn from a real-world project. Special thanks to managers who graciously shared their current project as ideas for exercises, subjects for cases, and examples for the text. Shlomo Cohen, John A. Drexler, Jim Moran, John Sloan, Pat Taylor, and John Wold, whose work is printed, are gratefully acknowledged. Special gratitude is due Robert Breitbarth of Interact Management, who shared invaluable insights on prioritizing projects. University students and managers deserve

Women Business Association free essay sample

A number of our Association’s members heard about your success in business. Women Business Association is going to conduct an annual conference this year. This is about how female entrepreneurs can get succeed in their own business. We will write a custom essay sample on Women Business Association or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many women entrepreneurs are taking active part in this association. A large majority of women want to start their own business in order to support their families. Our member are very interested in your direct, easy to understand to successful strategies for women. The members of the Association have asked me to invite you to be the featured speaker April 14, when we hold our annual conference in Brampton. Many successful business persons will attend this conference. We would like you to speak on this special occasion. Although we can give you only $1000 as an honorarium, we can offer you an opportunity to help women entrepreneurs apply their talent and skills tom get succeed in their own business. In addition, the conference includes two sessions, to which you and a guest are invited.

Learning Theories free essay sample

This chapter takes a brief look at the two major categories of learning theories (behaviorism and constructivism), the major theorists within those categories, and the implications of those theories for the use of multimedia and communications and information technology for learning purposes. A separate section within the chapter provides a brief overview of learning based upon neuroscience and recent discoveries about the functioning of the brain. A series of links are provided to further resources on learning theory, neuroscience, and the brain. pic] Our Technological Revolution and the Implications for the Way We Learn We have all experienced a learning moment when we were so focussed or engulfed in the learning, that everything else did not matter. Candidly, the raison detre or motivation for our focus may have been that we had a boss or teacher breathing down our neck or an impending exam was to quantify our level of knowledge or intelligence or a particular moment necessitated that a skill be learned very quickly. We will write a custom essay sample on Learning Theories or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Regardless of the motivating factors for this moment of focussed learning, the experience is what psychologists Mihaly Czikszentmihalyi and Ellen Langer label in their respective theories, as moments of optimum flow or mindfulness. According to psychologist Mihaly Czikszentmihalyi, optimum flow occurs when: Alientation gives way to involvement, enjoyment replaces boredom, helplessness turns into a feeling of control, and psychic energy works to reinforce the sense of self, instead of being lost in the service of external goals. (Czikszentmihalyi, 1990, p. 9) Replicating such moments of optimum flow is the job of educators regardless of the domain, whether it be school, the workplace in job training, or the military, etc. Moreover, certain learning theorists are advocating the greater use of technology, namely computers, in learning situations because they see enormous potential of computer technology to replicate these optimum moments of flow. Learning is a personal act. We each plac e our own personal stamp on how we learn, what we learn and when we learn. We in effect have our own learning style. Howard Gardners theory of multiple intelligences which acknowledges learning as an holistic experience is, at present, one of the most well known descriptors of human cognitive profiles. The act of learning is paradoxical in nature. It can at times appear to be a very simple act. So simple, that we do not question its presence in how we go about our daily activities, for it is natural to our existence as learning organisms. Yet, when we encounter difficulties in learning something, we no longer take the learning process for granted. It is only then that our metacognition or awareness of how we learn is heightened. Learning is taken for granted as a natural process. As simple a process it may seem, the root of understanding how we learn is not as straight forward. The existence of numerous definitions and theories of learning attest to the complexity of this process. A random sampling of any educational psychology text will illustrate the variance in views to what exactly is learning and how we do learn. In Educational Psychology: An Introduction, for example, the authors write, Learning implies a change in the individual as a result of some intervention. It may be viewed as an outcome or as a process. (Belkin and Gray, 1977, p. 211) While this definition reflects a behaviorist view of learning, for it equates learning as an outcome, it is a starting point for the authors to expand their description of learning into many other realms, namely the different theories of learning. They in effect, devote a whole chapter of their text just to describe the many ways of defining learning. While it may seem somewhat premature to evaluate the aforementioned definition of learning and to equate it with a specific theory, it is important to recognize that intervention in the learning process can imply many different things. The degree of intervention, by who or what and how, are the defining factors of a learning theory. These factors help distinguish the many different theories. As you will see these theories are not stagnant. They are evolving and changing as we discover new ways of viewing human cognition. The mechanistic model of the mind of the behavior era has given way to the logical-computational model favored by artificial intelligence and cognitive science theorists (McLellan, 1996, p. 6). Don Tapscott, in his book Growing Up Digital: The Rise of the Net Generation, argues that we are now in a digital era of learning. According to Tapscott, a transformation in learning is taking place from what he labels broadcast learning to interactive learning. No longer are todays generation of learners satisfied in being the passive recipients of the traditional teaching process, rather, they want to discover it for themselves by becoming interactive with the learning. The net generation children using GlobaLearn [a web site], are beginning to process information and learn differently than the boomers before them. New media tools offer great promise for a new model of learning one based on discovery and participation. (Tapscott, 1998, p. 127) Tapscotts thesis that the technological revolution is permeating every aspect of our lives forces us to examine the use of computer technology as learning devices. Such rapid social, economic and general lifestyle change, due in essence to the technological revolution, begs the question based on learning theory, why does the use of computers as a learning tool make sense? This chapter will answer this question by profiling the many learning theories. [pic] The Spectrum of Learning Theories As a review of the literature of learning theories will illustrate there are many labels being used to describe the many theories. Moreover, there are many theorists associated with each approach. A categorization of these labels and theorists will help in understanding these fundamental theories. The spectrum of learning theories consists of many approaches or ways of explaining how humans learn. A description of each of these theories will suffice in providing you with enough knowledge to critically examine the use of computer technology as a learning device. The resume of each theory will consist of: †¢ the associated names of the theory †¢ a description of the theory †¢ theorists associated with the theory †¢ hyperlinks on the World Wide Web Diagram #1: The two extremes Behaviorism   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Constructivism The extremes of this learning theory spectrum are represented by respectively, the Behaviorist and Constructivist theories of learning. As theories trying to explain the same thing, they are bipolar based on their respective views of how knowledge is acquired and the intervention of tools of learning (teachers or instructors). As a context to better understand all of the theories of learning presented in this chapter, examine these two extremes first and then place the remaining theories onto the spectrum. [pic] Behaviorism The Associated Names of this Theory: Behaviorism labelled as a teaching approach is often referred to as directed instruction. As you compare this theory with the Constructivist view of learning, this label will become self-evident. Also in contrast to Constructivism, it has been labelled an objectivist theory of learning. Theorists associated with Behaviorism: J. B Watson E. L Thorndike B. F Skinner A Description of Behaviorism: The concern or emphasis of Behaviorism is observable indicators that learning is taking place. Contrasting this view of learning is the emphasis of cognitive psychologists who equate learning with the mental processes of the mind. Behaviorists do not deny the existence of these mental processes. In fact, they acknowledge their existence as an unobservable indication of learning. The focus of Behaviorism is on the conditioning of observable human behavior. J. B Watson, the father of Behaviorism, defined learning as a sequence of stimulus and response actions in observable cause and effect relationships. The behaviorists example of classical conditioning demonstrates the process whereby a human learns to respond to a neutral stimulus in such a manner that would normally be associated with an unconditioned stimulus. The supporting example often cited with classical conditioning is the case of Pavlovs dog. The focus of Pavlovs experiment was the digestive process in animals. In conducting the experiment, Pavlov noticed that the dog would salivate (response), upon hearing the ringing of a bell. This occurred because the dog had learned to associate its unconditional stimuli (normally feeding), with the neutral stimuli of the bell ringing simultaneously with the feeding process. Watson, believed that the stimuli that humans receive may be generated internally (for example hunger), or externally (for example, a loud noise). B. F. Skinner expanded on the foundation of Behaviorism, established by Watson, and on the work of Edward Thorndike, by focussing on operant conditioning. According to Skinner, voluntary or automatic behavior is either strengthened or weakened by the immediate presence of a reward or a punishment. The learning principle behind operant conditioning is that new learning occurs as a result of positive reinforcement, and old patterns are abandoned as a result of negative reinforcement. (Belkin and Gray, 1977, p. 9) In his book entitled, The Technology of Teaching, Skinner wrote: The application of operant conditioning to education is simple and direct. Teaching is the arrangement of contingencies of reinforcement under which students learn. They learn without teaching in their natural environments, but teachers arrange special contingencies which expedite learning, hastening the appearance of behavior which would otherwise be acquired slowly or making sure of the appearance of behavior which otherwise never occur. (Skinner, 1968, p. 4) Skinner believed that more complex learning could be achieved by this process of contingencies and reinforcement through successive stages in the shaping process, the contingencies of reinforcement being changed progressively in the direction of the required behavior. (Skinner, 1968, p. 10) Applying the theoretical principles of Behaviorism to learning environments, it is easy to recognize that we have many behaviorist artifacts in our learning world. A dissection of the traditional teaching approaches used for years would reveal the powerful influence that Behaviorists have had on learning. The concept of directed instruction, whereby a teacher is providing the knowledge to the students either directly or through the set up of contingencies, is an excellent example of the Behaviorist model of learning. The use of exams to measure observable behavior of learning, the use of rewards and punishments in our school systems, and the breaking down of the instruction process into conditions of learning (as developed by Robert Gagne), are all further examples of the Behaviorist influence. With the advent of the computer in school, C. A. I. , or computer-assisted instruction has become a prominent tool for teaching, because from a Behaviorist perspective, it is an effective way of learning. CAI uses the drill and practice approach to learning new concepts or skills. The question acting as the stimulus, elicits a response from the user. Based on the response a reward may be provided. The contingencies of learning are translated into different levels of the program. Rewarding the user to a different level for correct responses follows exactly the approach of operant conditioning. Educators have espoused CAI as an effective teaching approach because it allows for self-paced instruction and it liberates them from the direct instruction of all their students so as to focus on those students with particular needs. Hyperlinks to Behaviorist Web Pages: http://www. coe. uh. edu/~srmehall/theory/theory. html http://tecfa. unige. ch/edu-comp/edu-s94/contrib/schneider/learn. fm. html#REF13085 http://www. sil. org/lingualinks/library/literacy/fre371/vao443/TKS2569/tks347/tks734/ http://mse. byu. edu/ipt301/jordan/learnterm_b. html [pic] Constructivism: The Associated Names of this Theory: Constructivsm is recognized as a unique learning theory in itself. It however, may be associated with cognitive psychology because as a theory of learning it focuses on a learners ability to mentally construct meaning of their own environment and to create their own learning. As a teaching practice it is associated with different degrees of non-directed learning. The term constructivsm is linked to Cognitive and Social Constructivsm. Theorists associated with Constuctivism: John Dewey Lev Vygotsky Jean Piaget Jerome Bruner Seymour Papert Mitchell Resnick A Description of Constructivism: The merits of Behaviorist learning theory and of their teaching practices are well documented. They have served well in teaching a growing North American population over the past six decades. Behavioral learning theory manifested itself in creating a systematic approach to teaching. Robert Gagne and Leslie Briggs, in their book, Principles of Instructional Design, combined Behaviorist principles of learning with a cognitive theory of learning named Information-Processing. The focus of the latter theory in this combination was of the internal processing that occurred during a learning moment. The design of instruction must be undertaken with suitable attention to the conditions under which learning occurs. With reference to the learner, learning conditions are both external and internal. These conditions are in turn dependent upon what is being learned. How can these basic ideas be used to design instruction ? How can they be applied to the design of single lessons, of courses, and of entire systems of instructions ? (Gagne and Briggs, 1974, p. 14) Gagne and Briggs principles of instructional design broke down the teaching process into a systematic process of nine steps. It is in effect, this type of systematic approach to teaching that acted as the catalyst for the creation of another view of the way humans learn. Behaviorist learning theory had served its purpose and its approach and goals were becoming outdated according to Constructivists like Seymour Papert. Constructivist learning theory sought to improve on what Behaviorist learning theory had already established by focussing on the motivation and ability for humans to construct learning for themselves. It viewed Behaviorism as being too teacher centered and directed. Constructivists regarded the educational system as a process of matching skill objectives with test items. It was void of meaningful learning. They also saw the teaching process focus too much on individual work rather than on group work. The final critique of Behaviorist learning theory from the Constructivist perspective helped define the core of Constructivism. To imply that knowledge is separate to the human mind and that it must be transferred to the learner in a teacher centered approach fundamentally was counter to the Constructivist theory of learning. Constructivists believe that all humans have the ability to construct knowledge in their own minds through a process of discovery and problem-solving. The extent to which this process can take place naturally, without structure and teaching is the defining factor amongst those who advocate this learning theory. Jean Piaget, a Swiss psychologist, observed human development as progressive stages of cognitive development. His four stages, which commence at infancy and progress into adulthood, characterize the cognitive abilities necessary at each stage to construct meaning of ones environment. Seymour Papert, psychologist and contemporary critique of Behaviorist teaching methods, writes in his book, The Childrens Machine: Thus, constructionism, my personal reconstruction of constructivism has as its main feature the fact that it looks more closely than other educational -isms at the idea of mental construction. It attaches special importance to the role of constructions in the world as a support for those in the head, thereby becoming less of a purely mentalist doctrine. (Papert, 1993, p. 42) As the inventor of LOGO, the programming tool for children, Papert too believed that children as learners have a natural curiosity to construct meaning of their world. The educational system as Papert saw it was too structured and it stifled this natural curiosity. The means by which children were being taught relegated them to a role of passive recipients of the teaching hence, they were not motivated to construct any learning for themselves. Learning according to Constructivists is a question of motivating an individual to attach new meaning to past cognitive experiences. According to Papert: It [constuctivsm] does not call in question the value of instruction as such. That would be silly: Even the statement (endorsed if not originated by Piaget) that every act of teaching deprives the child of an opportunity for discovery is not a categorical imperative against teaching, but a paradoxically expressed reminder to keep it in check. The constructionist attitude to teaching is not at all dismissive because it is minimalist the goal is to teach in such a way as to produce the most learning for the least teaching. Of course, this cannot be achieved simply by reducing the quantity of teaching while leaving everything unchanged. The principle other necessary change parallels an African proverb: If a man is hungry you can give him a fish, but it is better to give him a line and teach him to catch fish himself. (Papert, 1993, p. 139) Paperts desire to have children become motivated learners, critical thinkers, problem-solvers and metacognitionists is to be achieved through educational reform that provides the learner with the necessary tools to participate and to take ownership of the learning process. According to Papert, the computer is the appropriate tool to achieve such desired educational reform. These desired objectives of Papert and others who share the Constructivist view of learning are coming closer to reality as more people discover the power of computer technology. From Donald Tapscotts perspective, Paperts desired reality is happening now, as a paradigm shift to more interactive learning due to the exploitation of the digital media is taking place in our learning institutions. Tapscott cites eight shifts in learning today: †¢ From linear to hypermedia. †¢ From instruction to construction and discovery. †¢ From teacher-centered to learner-centered education. †¢ From absorbing material to learning how to navigate and how to learn. †¢ From school to lifelong learning. †¢ From one-size-fits-all to customized learning. †¢ From learning as torture as learning as fun. †¢ From the teacher as transmitter to the teacher as facilitator. Hyperlinks to Constructivist Web Pages: http://www. tcimet. net/mmclass/summer/CHPTales. tm http://www. coe. uh. edu/~srmehall/theory/construct. html http://www. gwu. edu/~tip/bruner. html http://www. mamamedia. com/areas/grownups/people/seymour. html http://www. mamamedia. com/areas/grownups/home_alt. html http://lynx. dac. neu. edu/home/httpd/t/tjohnson/papert%20history. htm [pic] Fitting the other Theories onto the Spectrum The two extremes of the spectrum have been outlined (refer to diagram #2). Inherent within each of these two extremes are related theories. Diagram #2: (Spectrum Summary) Behaviorism   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Constructivism   Directed Instruction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non-directed Instruction Objectivist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Constructivist Teacher-centered   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Learner-centered Behavioral observations   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Cognitive operations Focus on the individual   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚   Group work is emphasized More focussed on one approach   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   More holistic in approach Fundamentally, Constructivism is a cognitive learning theory because of its focus on the mental processes that construct meaning. Other learning theories equated with cognitive psychology are: Information-Processing theory, Scaffolding theory (associated with the Russian philosopher Lev Vygotsky) and Brain-based learning theory (associated with neuroscientists such as Marian Diamond and Robert Sylwester and educator Susan Kovalik). Information-Processing theory regards human learning as being analogous to a computer and its ability to store memory. As humans we process information initially with our senses. This information is either processed into our short term memory or it is lost. If this information is used and practised it is only then put into long term memory. Lev Vygotsky thought that our cognitive development was directly related to our social development. The culture we live in influences our social and cognitive development according to Vygotsky. He further recognized the differences of how the world is seen by children and by adults. Vygotsky labelled this difference in cognitive ability as the zone of proximal development. The job of educators was to identify this zone and to find out where the child was situated in this zone and build upon their specific level through a scaffolding process. Building from what the learner knows is in essence, anchoring the learning on past experience. Such anchoring is fundamental to Constructivist theory of learning. Computer technology is viewed by Seymour Papert as an excellent means to anchoring learning to meaningful experiences. The complexity of understanding how humans learn is reflective of our complexity as biological, social and cognitive animals. Many theories exist, all focussing on different aspects of our make-up as humans. Each theory is an attempt to explain how we learn, act and behave: Sigmund Freud focussed on our sub-conscious, Skinner on our observable behavior, cognitive psychologists on our mental processes, humanistic psychology on our social and interpersonal development. Howard Gardner took a more holistic approach in describing our cognitive profiles. His classification of human intellectual ability into seven intelligences incorporates many aspects of psychology to define the cognitive behavior of humans. Before moving on to Multiple Intelligences , refer to the following hyperlinks for information on other learning theories. http://mse. byu. edu/ipt301/jordan/learning. html [pic] Theory of Multiple Intelligences: Human intelligence should not be equated solely with linguistic or logical-mathematical intelligence alone, according to Howard Gardner. As the author of a new way of looking at human intelligences, Gardner, a Harvard professor, identified a total of seven different intelligences that humans may possess. His list includes: †¢ Linguistic intelligence †¢ Logical-mathematical intelligence †¢ Spatial intelligence †¢ Musical intelligence †¢ Bodily-kinesthetic †¢ Interpersonal intelligence †¢ Intrapersonal intelligence Gardner is working on more intelligences that qualify as cognitive processes: Multiple intelligences theory, on the other hand, pluralizes the traditional concept(Gardner, 1993, p. 15) Gardners fascination with human intelligence and how the brain works was started with an investigation of people who had experienced brain damage of some sort. He recognized that not all abilities, whether cognitive or motor-sensory, were eliminated from the individuals repertoire despite having endured some form of brain damage. Gardner hypothesized that we possess more than one form of intelligence. The theory of multiple intelligences provides a more holistic view of the intelligence of humans. Gardner advocates that we may all attempt to develop each of these intelligences to our optimum level. However, we may be more adept in only certain of these intelligences. We may however, aspire through practice and development to improve in the remaining intelligences. The use of technology appeals to this view of intelligence in that Gardners theory acknowledges that cognition is not a linear process. The computer as a learning tool has enormous potential in developing the different forms of intelligences of Gardners theory. Hyperlinks to Multiple Intelligences Web Pages: http://www. athena. ivv. nasa. gov/curric/weather/adptcty/multint. html [pic] Learning Theories and the Brain What is Learning? Learning is the process by which we receive and process sensory data, encode such data as memories within the neural structures of our brain, and retrieve those memories for subsequent use. The variety of information stored within such memories is enormous, including such items as: how to control your sphincter muscle until a socially appropriate occasion, how to identify mommy in a crowd, how to ride a bicycle, what is the shortest path to grandmother’s house without going near the lair of the wolf, what is the tune for Beethoven’s Ode to Joy, and what a philosopher means when she says The cat is on the mat. All learning takes place within the brain, and as our understanding of the underlying structures and processes of the brain increases we can begin to apply that knowledge to improve our construction of learning environments. Our ability to describe and understand the basic processes by which our brain learns has bee n enhanced by recent technological developments and by the accumulation of long-term studies in human and animal populations. Of particular benefit has been the development of brain-imaging techniques that allow us to observe the operation of normal human brains during the performance of a variety of tasks. Magnetic Resonance Imaging (MRI) and similar technologies have allowed researchers to map neural activity during sensory data processing and monitor the transfer of information into long-term memory. Researchers have also made great strides in determining the basic mechanisms that underlie the transmission of information within the brain. Such research on brain structure, neural transmitters, and the process by which memories are stored and retrieved have allowed the development of neuro-physiological models of learning. Although neuroscience has provided us with an increasingly rich and accurate descriptive theory of learning within the brain, we still need prescriptive theories of how to maximize the efficiency and capacity of human learning. To some extent all learning theories are prescriptive and seek to minimize the time required to transfer information into memory and maximize the efficiency of retrieving that information. Our current knowledge of the brain, and our speculations regarding the evolutionary function of learning, should assist such prescriptive theories in designing learning environments that provide for maximum learning efficiency. In particular, prescriptive theories informed by our current knowledge of neuroscience should allow us to evaluate the role of multimedia in learning environments. We should also be able to maximize the impact of multimedia in such environments through application of learning theories and our knowledge of the human brain. Learning environments should not be construed simply as the traditional formal classroom within the context of institutionalized public education. Such environments occur within the workplace, the home, and other social institutions as communication and information technology continues to penetrate Western society. We should also be aware that the use of multimedia will have an impact upon the development of the human brain, particularly when such techniques are used with children and adolescents whose brains are still developing and maturing. [pic] The Brain The three-pound universe that is our brain consists of more than 100 billion neurons and the associated structures that organize, nourish, and protect their functioning. Each neuron may have between 5,000 and 50,000 connections to other neurons, forming a dense connective mat that allows the storage of enormous amounts of information. It is important to remember that structures within the brain continue to develop until late adolescence and that neurons will continue to grow connections to other neurons throughout adult life. [pic] Brain Structures The diagram above shows four basic structures in the brain that are important for bodily functions and for learning and memory. The brain stem is primarily concerned with basic survival functions and the regulation of body systems. The cerebellum is involved in the performance of automatic movement patterns (walking, running, touch-typing, and other physical skills that can become part of automatic procedural memory). The limbic system is responsible for the processing of short-term memory into long-term memory as well as the generation and regulation of emotions. The cerebral cortex is the area of the brain in which sensory data is received and analyzed, decisions are made, and behavioral responses are activated. Information is received from the major sensory organs of the body: eyes, ears, nose, tongue, and skin; and is held briefly in sensory memory. The further processing of that information appears to be dependent upon the state of emotional arousal of the brain and the utility of such information for potential survival. Long-term memories are generated through the growth and spread of neural connections between those modular structures that contain the memory (Sylwester, 1995, pp. 89-90). The more often such structures are activated and the stronger the connections become to associated structures, the more easily such memories are retrieved and used by the brain in decision making and conscious thought. To some extent the driving forces behind the way our brain processes sensory input and makes decisions are the survival imperatives that accompanied human physical and cultural evolution. Our brains reflect the importance that survival places upon evaluating potential threat situations, making a quick response, and focusing all body resources on support of those functions that may lead to continued survival. In high-threat situations the focus of the brain will be almost exclusively upon what is identified as the potential threat while the body shuts down relatively unimportant systems to concentrate on those involved in the fight-or-flight response. Low-threat situations allow the brain to sample and evaluate a broader spectrum of sensory input and to analyze such input for future use. Thus a large looming shadow in the cave mouth tends to generate fear, prompting the body to shut down digestion, pump more adrenaline, and prepare the cerebellum to handle the process of running while the cerebral cortex looks for places to hide or make a stand. Strong negative emotion tends to evoke the fight-or-flight physiological and mental responses that shut down high-level cognition. A premium should therefor be placed upon the reduction of those factors within a learning environment that give rise to negative emotions. At the same time, sensory input that does not receive attention is not available for processing through short-term into long-term memory. Clearly a balance must be struck between too much and too little stimulation in learning situations. Some stimulation and motivation is necessary for the learner to pay attention to the data that they are required to learn; on the other hand too much stimulation (particularly in a negative context) is liable to create anger or fear as an emotional response, either of which can serve to reduce the amount of learning carried out within the environment. It appears that the limbic system plays an important part in the process of storing information as long-term memories. Those activities that provide an emotionally supportive environment may well have a positive effect upon the processing of information into long-term storage and subsequent retrieval of those memories. Group activities, co-operative learning, role-playing, and simulations tend to provide emotional support and emotional context for learning. Retrieval of long-term memories is enhanced when a large number of connections have been established between the neural modules that store such memories. To some extent our growing knowledge about the organization of the brain tends to support those theories of learning that can generally be labeled as constructivist. That is, situated knowledge that is connected to a large number of other memories is more apt to be recalled than is unconnected knowledge that has been learned by rote. Because the process of creating connections between ideas and memories is essentially carried out through a process of rehearsal and review, learners should be encouraged to review knowledge that is being learned and attempt to build connections to that knowledge that is already easily retrieved from long-term memory. Such cognitive tools as narration, story-telling, constructing metaphors, and making comparisons are strategies that help to build and maintain connections. The construction of knowledge is essentially the growing of connections between the neural modules that contain individual memories. [pic] Implications for Learning Theory If the apparent symmetry between contemporary brain-based learning theories and constructivism is accurate, then basic guiding principles of constructivism should be used in designing learning environments. These principles include: 1. Learning is a search for meaning. Therefore, learning must start with the issues around which students are actively trying to construct meaning. 2. Meaning requires understanding wholes as well as parts. Parts must be understood in the context of wholes. Therefore the learning process focuses on primary concepts, not isolated facts. 3. In order to teach well, we must understand the mental models that students use to understand the world, and the assumptions that support those models. 4. The purpose of learning is to construct ones own meaning, not to have the right answers by repeating someone elses meaning. Learning is inherently inter-disciplinary, and the only valuable assessment of learning is assessment that is part of the learning process and that provides students with information on the quality of their learning. (On Purpose Associates, 1998b) Such learning environments should also be designed around the ideas that come forward from brain-based learning. That is, they should employ the three instructional techniques associated with brain-based learning: orchestrated immersion, where learning environments are created that fully immerse students in a learning experience; relaxed alertness, where an effort is made to eliminate fear while maintaining a highly challenging environment; and active processing, where the learner consolidates and internalizes information by actively processing it (On Purpose Associates, 1998a). Learning environments constructed with these principles in mind will tend to be organized around thematic units featuring knowledge in depth and the exploration of projects that have real meaning for the participating learners. [pic] Implications for Multimedia How should we then use multimedia presentations of information to effectively learn in the context of current brain-based learning theory? The communications and information technology that constitutes contemporary multimedia platforms has some significant advantages in creating a learning environment, but there are some pitfalls that must be accounted for as part of the learning process. Multimedia, at its best, allows us to bring the real world to the learner through the use of sound and video. Such connection to the real world should serve as a factor in motivating students, and as a factor in providing them with additional connections to other knowledge structures. At the same time, multimedia allows students to experience information through multiple modes of presentation. Such multi-modal learning should help to build connections within the learner’s brain if only because multiple modes of reception will engage different areas of the learner’s brain. Contemporary multimedia platforms allow a greater degree of learner control and more freedom for the learner to undertake self-directed exploration of the material. Such self-directed learning is likely to be more meaningful and more connected to existing knowledge structures within the learner’s brain. Therefore, we should see advantages for learning programs that include multimedia presentations. Learners should also gain from the possibility of self-paced instruction based upon contemporary multimedia learning technology. Whenever possible, immediate feedback should be built into a multimedia program to assist students in forming correct connections prior to reinforcing connections between new and old information incorporated within existing knowledge structures. Designers of multimedia instructional packages should take comfort in the strengths of multimedia, but they should also be aware of potential problems in using multimedia with learners. Although current multimedia technology allows excellent presentation in both video and audio modes, and provides some tactile feedback through the use of keyboards, there is little to offer students who need tactile experience ? multimedia is essentially a bimodal presentation strategy unless additional work is done to prepare material for students. Even the best multimedia programs cannot provide the total stimulation that natural environments provide? we have yet to incorporate smell or taste into such presentations, and tactile sensations are still limited. More importantly, there is a clear danger that multimedia programs may be used to substitute for interaction with other learners. We should not be seduced by technical virtuosity or cutting-edge visual and aural effects, there is still a need for human interaction and emotional support. Above all else, we should beware of the tendency to substitute passive learning for active learning. Multimedia provides significant advantages in presenting information to learners, particularly if sufficient resources have been invested to create presentations that make full use of current technology. Presentation of information, no matter how technically sophisticated, is not enough; learners must interact with content to construct their own meanings and integrate new knowledge into the dense web of neural connections that is mind and memory. [pic]