Blaine Kitchenware Case Study Answers Essay

1. ABOUT THE COMPANY Blain Kitchenware, Inc. (BKI), founded in 1927, is a mid-sized producer of small appliances for residential kitchens. BKI has an approximate 10% market share of the $2.3 billion U.S. market for small kitchen appliances, with 65% of sales originating from the US market. The company is public since 1994, and the majority of the shares is controlled by the founder’s family (62% of outstanding shares), who also have a strong representation in the board of directors. Mr. Dubinski – the CEO since 1992 and great-grandson of one of the founders, successfully completed an IPO in 1994 and gradually moved the production abroad in the early 90s. BIK`s current strategy is to complement its product offerings by acquiring small independent manufacturers or the kitchen appliance product lines of larger diversified manufacturers. The financial data at the end of 2006 reflects a strong financial position: The company has raised nearly no debt, it is very liquid, but also under-levered. BKI is one of the strongest companies in this industry in terms of EBITDA margin (22% in 2006), high level of cash holdings and no debt. However, the shift toward higher-end product line could not prevent the margins from a slight decline over the last three years. This was mainly explained by the integration costs and inventory write-downs due to the acquisitions completed so far. The other reason was that its organic revenue growth had suffered in recent years, as some of the core products lost market share. The growth of the top line was mainly due to the acquisitions. BKI’s annual return on equity is significantly below that of its publicly traded peers: 11% compared to an average of 25,9 and a median of 19.5 %. Now the over-liquid and under-levered BKI is facing strong pressure from a private equity group interested in buying the company`s common stock. Thus, the CEO considers a stock repurchase to avoid a hostile takeover. The company decided to distribute all excess cash as a dividend. The second step will be the recapitalization plan to hold permanently $ 300m of debt on the balance sheet, which is a difficult decision due to the first sign of the mortgage crisis. Moreover, the company expects annual revenue decline of 4%  in 2007-2009, and a permanent 2% growth rate afterwards. 2. METHODOLOGY AND VALUATION From a company`s perspective, the benefit of debt is the tax shields created, which are captured by equity holders. The family-controlled company in our case has little experience with holding debt and the board of directors might not easily accept the restructuring plan. What they should know is that the right amount of debt increases the firm’s value and discourages the takeovers. However, a too-high level of debt can lead to financial distress, lower credit rating, and higher interest expenses. For BIK, the credit rating regressed from A (Iteration 1) to A- (Iteration 10), accordingly changing the credit spread from 1.40% to 1.65%. Our aim is to asses the how the proposed recapitalization will affect the enterprise value, after the distribution of the excess cash as dividends, by using APV. We estimate the present value of the firm as if it were all-equity financed (VU), then we add the present value of tax shield associated with the new debt (permanent debt with market value of 300 mln USD), and subtract the present value of bankruptcy costs. We have to estimate expected after-tax operating cash flows , the expected tax shields and discount them at two different discount rates: (unlevered cost of capital) and (usually , cost of debt). For the present value of the bankruptcy costs, we have to first estimate the risk-neutral probability of default of the company. VL = VU + PV (future tax shields from debt) – PV (bankruptcy costs),  or rewritten as  threshold coverage ratio for default  probability of firm default conditional on surviving up to a specified period We start with a forecast of expected after-tax operating cash flows. We assume the annual 4% decline in revenues between 2007 and 2009 from the 2006 level, and a permanent 2% growth afterwards. Analysing the historical values of the operating margins from the Income Statement, we forecast values for the 2007-2009 period. The executives of BKI expect the firm to achieve operating margins at least as high as the historical ones. Thus, we took averages and slightly adjusted them toward higher values. Since the declining tendency in the last three years was cause by integration costs and inventory write-downs associated with acquisitions, which already have been completed. To the EBIT, estimated by using those margins, subtract the taxes, Capex, adjust for Depreciation, Amortization and change in Working capital. The capital expenditures were just over $10m on average per year. The company is expecting the Capex remain modest. Thus, we assumed a Capex of $10m for the next three years. We estimated Net Working Capital by using the average ratio of NWC/Net income of the last three years. Finally, we come up with the value for the operating after-tax operating cash flows for the next three years and the terminal value. We calculate the present value of these cash flows by discounting by the unlevered cost of capital, rU given as 8.7%, which gives us a value of the unlevered firm of ca. $566m. Secondly, we estimate the expected tax shields from the debt level: a permanent amount of $300m market value, and a constant tax rate of 40%. Then we calculate their present value using the appropriate discount rate reflecting the risk, rT (or rD). For the bankruptcy cost, we have the percentage of the unlevered-firm value of 20%, but for the present value, we need to estimate the risk-neutral probability of default q. This probability is calculated iteratively starting from the coverage ratio (EBITt-1 / Interest Expense). We match the coverage ratio number with the corresponding credit rating, which then has a corresponding default. This gives us the yield on debt y, the cost of debt rD, and the risk-neutral probability of default q. The formula for q is q=  where Ï  is the recovery rate in case of default, given here as 41%. In order to calculate the expected interest coverage ratio, we took the average EBIT between 2007 and 2009 for the mean of pre-tax cash flows, as well as the according standard deviation, since our estimation is future based. 2. SENSITIVITY ANALYSIS AND CONCLUSION We can conclude that by raising debt of $300m the company would be better of, since the value of the levered firm would be 16% higher that the value of the unlevered firm and will discourage the takeovers. However, the sensitivity analysis gives us an optimal value of debt of $354m, which would lead to an optimal ratio between the PV of tax shields and bankruptcy costs and, thus, a value of maximal levered firm of $680m, given that our assumptions for AVP will be realized in the future.

Mediatory Argument

When it comes to finding common ground on important issues, few polarize people as much as immigration questions and difficulties. There are plenty of varying opinions on immigration, especially when one considers whether or not to grant United States citizenship to illegal immigrants. Some feel that illegal immigrants should be given a chance to earn their citizenship, since they are already in the country. Others feel that they are criminals who deserve nothing from the government of the United States. Finding a middle ground on that issue is difficult, but it is possible through mediation. When one takes the time to research the issue at hand, some interesting things come to light. The first thing that a person must understand is the definition of an illegal alien. An illegal alien, as the name suggests, is a person who comes to the United States illegally. In short, it is a person that enters the country through some means that is not approved by the immigration office of the United States. The punishment for such an offense is something that must also be considered by any person who is looking to do research. If an illegal alien is found out in the United States, then they are usually deported back to the country where they came from. In some cases, they are detained for a short time before being shipped back to their country. Research must also be done on the options for these people. Where do they come from and why do they come to the United States? As one might expect, the majority of illegal aliens come to the United States because they have nowhere else to go. These people do not have a future or a leg to stand on in their previous countries, so they make their way into America with an eye on making a new life for themselves or for their families. One side of this argument might also focus on the job status of these people, as well. Unfortunately for many Americans, some of the jobs have been occupied by illegal aliens. This is something worth considering if one hopes to find a middle ground between the two sides of this equation. There are certain middle grounds in this argument where people come together. Though folks might disagree on many things, one would be hard pressed to find anyone who believed that illegal aliens were worse off in the United States. In addition, most people on either side of the chart can admit that illegal aliens are just as likely to pass the citizenship requirements as those people who migrate to the United States legally. In addition to all of that, both sides can see some part of the American dream coming out in this situation. When America was being formed, it took on all comers as a place where anyone could come to explore and find great opportunities. Though that has changed some, it is still one of the American ideals that all residents of this country hold near and dear. As for disagreements, there are many in this case. The fundamental disagreement between the two sides is that people who think illegal immigrants should be given citizenship believe that the illegal alien laws are unfair. They believe that there needs to be widespread reform to accommodate for those people who make their way to the United States. Their basic argument is that it should not be illegal to come to America. Those on the other side would argue that the laws are in place to protect the country from being overrun by cheap labor and they are there to keep the economy in tact. In addition to all of that, the two sides disagree on the impact that illegal immigrants might have on the job market. Those who support the illegal immigrants feel that, ultimately, the increased productivity with these new workers will help stimulate the economy. Obviously, those on the other side feel that adding more low cost workers will make it difficult for people to demand competitive wagers in a competitive market. It is important to keep in mind the different viewpoints when trying to reach a common ground. In this case, the perspectives could not be any different on the issue. On one side, there are the illegal immigrants, who have escaped their previous life and made it to the land of opportunity. They see a new life sitting right in front of them for the taking and they see nothing wrong with that. Those who want these people gone are looking out for their best interests and they are somewhat fearful of what could happen is illegal immigrants were granted citizenship. Because neither party has had the chance to walk in the other party’s shoes, it makes things especially difficult. Illegal immigrants cannot understand why those people in the U.S. do not want to share their wealth. Those in the U.S. do not understand where the illegal immigrants have come from and why they might have made the decision to come. The common ground here is that everyone wants to work for the greater good of the human race. While it might seem like an idealistic or simplistic common ground, it is the basic premise that will have to drive the decision making. No good intentioned human being wants to see another human being suffer. That is where these people can come together. There are plenty of people in the United States who would want to see illegal immigrants exported that might have come from a rough background. They can certainly relate to the plight of these immigrants. The common ground is not a huge piece of dirt, but there is room for people to come together there for the great good of society. As far as a solution goes, there seems to be a place for one in this case. Though it might not fall right in the middle of what people are looking for, there is a way to come to something of a compromise. In order to give illegal immigrants the best chance to prove themselves and earn their way into the country, a probationary period must be adhered to before they are â€Å"full citizens†. In addition to that, they would have to complete all of the steps that normal immigrants have to go through, including the tests. This would benefit both sides, as it would not blindly throw people back into the hell that they used to inhabit, but it also would not open up the borders to anyone who wanted to come. Those people who made the choice to come to America would understand that it is going to take a long time to gain citizenship. In addition, this might even encourage people to go about immigration the right way, instead of having to sneak into the country.

Barbados Essay Research Paper Barbados is an

Barbados Essay, Research Paper Barbados is an independent state, once a British settlement, and the most eastern island of the West Indies. Its capital and merely port of entry is Bridgetown. The island is underlain with folded sedimentary sedimentations, and a surface bed of coral attains 90 m ( 300 foot ) in thickness. In the northeasterly parts, eroding has exposed rugged ridges and ravines. The clime is warm and pleasant. The mean one-year temperature is about 27? C ( 80? F ) , and small day-to-day or one-year fluctuation occurs. A dry season ( from December to May ) alternates with a moisture season. The mean one-year rainfall is about 1,500 millimeters ( 60 in ) . Barbados is one of the universe # 8217 ; s most dumbly populated states. About 90 % of the island # 8217 ; s population is black. The production of sugar cane and its byproducts, molasses and rum, long a pillar of the Barbadian economic system, has been replaced by touristry as the main industry. The development of light industry, offshore banking, and fishing and the variegation of agribusiness have been encouraged by the authorities. Barbados was settled by English settlers in 1627. To work the sugar cane plantations, slaves were brought from Africa, a pattern abolished throughout the British Empire in 1834. Laterality by a little group of British landholders continued, and a political rights mov ement began, ensuing in the initiation of the Barbados Labour party ( BLP ) in 1938 and an outgrowth, the Democratic Labour party ( DLP ) , in 1955. Barbados became independent on Nov. 30, 1966. Errol Barrow of the DLP, the first Prime Minister, was succeeded by Tom Adams of the BLP, who held office from 1976 until his decease in 1985. The DLP returned to power under Barrow ( 1986? 87 ) and Lloyd Erskine Sandiford ( 1987? 94 ) . Owen Arthur of the BLP became premier after elections in 1994 and was returned to office in a landslide triumph in 1999. In 1997, Barbados hosted a regional acme attended by the leaders of the English-speaking Caribbean states and U.S. president Bill Clinton. Late the undermentioned twelvemonth, a constitutional committee recommended that Barbados go a republic and replace the British sovereign with an elective president as caput of province. by Joey Markany Beckles, H. M. , A History of Barbados ( 1990 ) ; Butler, K. M. , The Economicss of Emancipation: Jamaica and Barbados, 1823? 1843 ( 1995 ) ; Davis, K. , Cross and Crown in Barbados ( 1983 ) ; Levy, C. , Emancipation, Sugar, and Federalism ( 1980 ) ; Payne, A. J. , and Sutton, P. K. , eds. , Dependency under Challenge: The Political Economy of the Commonwealth Caribbean ( 1984 ) ; Richardson, B. C. , and Lowenthal, D. , Economy and Environment in the Caribbean: Barbados and the Windwards in the Late 1800s ( 1998 ) .

Conflict in Sierra Leone -Research Paper- Research Paper

Conflict in Sierra Leone - - - Research Paper Example The role of MNC’s and FDI in both developing and developed countries cannot be disputed; however, they have a participatory and perpetuating role in the conflicts within mineral rich regions of the world, such as Sierra Leone. The Role of Multinational Corporations in the Sierra Leone Conflict Introduction Natural resources have been a very critical source of national wealth and pride since the beginning of regionalization and the pre-colonization era. Nations and civilizations alike have gone to war – both internally and externally – for the sole occupation over and exploitation of natural resources. Under the modern globalized trading environment, countries endowed with natural resources ranging from minerals, oil, wildlife, gas and so forth have been able to accrue revenues from exploration and trade of said minerals with other countries of the world. Foreign exchange earned from the legitimate trade in the resources has been a critical drive for economic deve lopment providing employment and revenues to governments for the provision of essential public services including education, infrastructure and national security. Another significant impact of the globalization of trade and production, as well as the relative ease of mobility of capital compared to labor, is the emergence of business entities that are operated across borders, regions and continents but have a central office in the homeland from where all its global management is conducted. Such entities are often referred to as multinational or transnational corporations or enterprises (Garry & Litan, 1998). A more direct definition of multinational corporations (MNCs) would perhaps best be obtained by linking the business organization to the type of trade that it is involved in. Therefore, this being the case, a multinational corporation is a firm that has created a global presence by participating in direct foreign investments, in specific or several industries. Such global â€⠀œ often private – firms and international institutions are presently observed to be primary actors and vital agents for the transformation of the state, region and international political, social and economic environment. The question, therefore, is: How do MNCs develop ties with government, if such ties even exist? In an ever increasing competitive landscape, countries of all levels of development –particularly through their governments – are emphasizing policies and channeling resources into new ways of attracting foreign direct investments into their countries. This is in line with the high prioritization of both micro and macroeconomic goals including sustained high levels of economic growth, stability of inflation and foreign exchange, increased employment and improved standards of living for the total population. Multinational corporations play a significant role in the efficiency and growth of the economy by contributing to the availability of capital re sources for global investment purposes (Held & McGrew, 2007). Sierra Leone is located at the south-western part of West Africa between the seventh and tenth latitudinal parallels north of the Equator. It has a land mass measuring approximately 71,740 square kilometers and a total coastline of 402 kilometers (www.nationsencyclopedia.com, 2012). It is most difficult to measure the exact population in Sierra Leone due to the long and deadly civil war that mushroomed since 1991, stretching to the early

Do you believe that we should all aim to be better global citizens Essay

Do you believe that we should all aim to be better global citizens - Essay Example By extension, one needs to examine how feasible the arguments for or against world citizenship are. Perhaps there is no better way of defining global citizenship than to adopt the viewpoint expressed by Thomas Paine when he said â€Å"My country is the world, and my religion is to do good† (Chumbley & Zonneveld 61). The world has advanced in more ways than one. It is for this same reason that the concept of global citizenship has become rampant; as widely acceptable as it is widely rejected. The same reason applies to the belief people have about globalization. The world, overtime, has been divided into countries. Although some of these countries and their people have certain features in common, they are not totally the same. These differences that mark them apart are many other peoples of the world. For instance, countries in the world are commonly classified into developed, developing and under-developed. This is just one of the main divisions. The basis upon which countries of the world are sub-divided is their social and economic standing, among others. However, the essence of being world citizens is to share responsibilities. Since some parts of the world seem to be experiencing little or no progress, while others are progressing rapidly. The advanced countries of the world find it imperative to unite under a number of organizations to ensure that the under-developed and developing nations of the world measure up to what they are supposed to be in the comity of nations. All these happen because in the long run or in the short run, the advancement or backwardness of one nation would affect other nations of the world (Jacobson 27). Nonetheless, one must not fail to mention that not only the developed nation have a responsibility to bear, the people from advancing and under-developed economies of the world also have roles to play. In spite of the different points of view people have about global citizenship, there are certain beliefs that are true. One of such beliefs is that it is not legal for anyone to state that they are global citizens because there is no document that formally stipulates such. This is in spite of the existence of such a body as the United Nations. Yet facts that accrue reveal that there are basis upon which one can safely assume that many of the peoples of the world are indeed global in their citizenship, automatically. One of facts is represented by the internet. Virtually everyone in the world is connected via the internet. This connectivity is so potent that when an incident happens in one part of the world, everyone knows about and is affected in one way or the other. Yet despite the advancement of global citizenry via the internet, there is still a whole lot to be done. For instance, some people in the world know little or nothing about the internet. So, if the condition for being a global citizen is having a presence on the internet, it can only mean that some people in the world will, by design, be d isqualified. Nonetheless, this does not cancel out the benefits of being a citizen of the global community. There are obviously many ways of being a global citizen. Some persons would even believe that once anyone is born into any family in any country on planet earth, such a person automatically becomes a global citizen. This is based on the assumption that since the family is a smaller constituent of a

ACCT202 - DVHA - Accounting II Essay Example | Topics and Well Written Essays - 250 words - 2

ACCT202 - DVHA - Accounting II - Essay Example This means that the buttons are stitched onto the right half and the buttonholes are on the left. There could be two or three buttons, which factor has an interesting role to play as I shall show later. Purely as a matter of interest, the item of male clothing that has the maximum number of manufacturing operations done on it is the coat, twenty-seven separate operations (www.stitchworld.net). The best way to put on a coat is to have an assistant standing behind you holding the coat at the level of your neck. He clasps both shoulders of the coat, one in each hand. Using his right hand, he opens up the front half of the right side, so that the armhole is clearly visible and positioned slightly below your right hand. After you slide your right arm fully into the right sleeve, he opens up the left half with the buttonhole slightly above your left arm, so that you have to reach upwards to slide your left arm into the sleeve. I will stop here, as all subsequent actions are the same as those carried out by you without an assistant. When you have to put on your coat by yourself, the best method is to start by laying the coat on its back on a bed. With your left hand, hold the collar facing you (the right collar when worn) between your thumb and the other four fingers and slide your right arm into the sleeve, gathering the coat as you stand up. Bring your bunched left fist up to touch your right cheek, fold your right arm so that you can use the fingers on your right hand to replace the left. Now move your fist backwards towards the center of your neck. This will help you to locate the left armhole with your free left hand. Slide your left arm in. The most widely used method is when you have just a coat and nothing else. Again, with your left hand, hold the collar facing you between your thumb and the other four fingers, but at the spot directly above the center of the armhole. The armhole should be visible to you at a

Home Schooling vs. Public Education Essay Example | Topics and Well Written Essays - 1000 words

Home Schooling vs. Public Education - Essay Example Moreover, they are not able to relate with the parents of a child properly and they remain in dark about the weaknesses of their child. Comparatively in home schooling the teacher and the parents are able to devote their time to the child understanding the teaching style and the curriculum which best suits the student. The teacher can move at his own speed and guide the students about the other activities and explore his talents which are neglected in public schools. Another main advantage is that home schooling provides parents with a sense of security regarding their child’s wrong indulgence in bad activities. Harmful peer pressure, physical and mental mugging, threat of being bullied or involvement in drugs are some factors that children who go to public schools have to face. Comparatively in home schooling a child is saved from all this mental pressure and spends quality time with the teacher and the family which builds up the family relations and consequently the child wi ll learn and embrace the good values around him. Then there is the benefit of flexibility in time. Parents can set the timetable for their child’s study hours as some children have the tendency to work best in different times of the day and the teacher has the advantage to lay emphasis on the subjects the child is weak in or needs more attention. â€Å"An added benefit of home schooling is the freedom to encourage mastery. Students can be made to repeat materials correct and retake tests, and study longer in order to master materials because there is not an entire classroom of other children ready to go on† (Andrea D. Clements). Despite the benefits, there are disadvantages to home schooling as well. Home schooling takes and requires emotional,... This essay approves that children are given loads of homework and parents have to work with their children for hours to make them grasp the concept. If that is the case many parents then prefer home schooling if they have to cover the educational aspect on their own. Children at this age can easily be influenced by bad company. Disruptive and harsh behavior is evident in children going to public schools. Children going to public schools may be familiar with a lot of knowledge but understand very little and this is where kids being home schooled outshine them. Children with some disability are not properly treated by the peers or teachers in public schools whereas home schooling can provide the right kind of environment to those special kids and enhance their confidence. This report makes a conclusion that it is true to state that home schooling is not for everyone. It may not be appropriate for every family in every circumstance. A lot of money has to be invested in order to provide the resources for projects, field trips, tuition and children with home schooling lack in social development. Every day interaction is necessary in order to learn to communicate and handle different situations and at times the child may develop inferiority complex pondering over what qualities he is lacking by not going to a public school. Public schools have a fixed curriculum and grading system which enables the parents and the child to know where he stands. Public schools offer a broad range of extracurricular activities such as sports, plays and membership of different clubs. Public schooling gives the parents a chance to have a full time job and provide and cater for all the needs of the child.

Binding Performance Management System Changes and Organisational Essay

Binding Performance Management System Changes and Organisational Culture - Essay Example The packaging industry has become increasingly lucrative, but local and international competition intensified. By the late 1990s, the global sales of the industry reached $400 billion, with the U.S. making up $115 billion, followed by Asia and Western Europe. Consumer packaging accounted for 70% of sales, followed by industrial packaging revenues at 30%. The influence of packaging on marketing products cannot be undermined. For traditional retailers, packaging is seen as more influential than advertising in affecting purchasing decisions and customer loyalty. The industry trends are increased corporate consolidation, market segmentation of domestic consumer packaging markets, and vertical integration of packaging business models. The challenges for Sonoco come from its ability to respond to external threats and opportunities by managing its internal weaknesses and strengths. The opportunities are one-stop packaging business models with high flexibility and customisation levels, the c ontinued demand for market-oriented packaging, especially for consumer markets, availability of global talent, and becoming more receptive to diversity and environmental issues at national and international levels. ... Hence, the primary challenge for Sonoco is using its strengths to reduce its weaknesses, and to ultimately handle the opportunities and threats in the packaging industry. The main tasks of Hartley are as follows: 1) to reduce HR cost by 20%; 2) to improve the linkage between HR functions and business strategies; and 3) to standardise HR systems and functions. Overall, Hartley is in charge of transforming the HR structure and organisational culture. Hartley’s total approach included professionalising the HR system and making it more business-oriented. She designed policies that shaped compensation, performance management, employee development, and succession planning. In order to support these policies, she created an advisory HR council that was comprised of divisional HR heads and key individuals from corporate HR. She also formed an advisory team of divisional GMs to help attain high buy in. This study discusses the theoretical framework of the main concepts and issues of th e case. Performance management (PM) is a critical aspect of Sonoco’s HR change efforts because it is linked with its organisational issues of compensation, employee development, and succession planning. The vision of the PM system must be distinct, clear, and compelling. This vision can be connected further to the corporate vision, so that management levels and personnel understand how PM affects the overall direction of the company. Hendry et al. (2006) stressed the link between company vision and HR functions (51). Greer and Virick (2008) asserted that diversity management is connected to successful succession planning. Furthermore, PM changes must be

Managing Diversity and Equality Essay Example | Topics and Well Written Essays - 5000 words

Managing Diversity and Equality - Essay Example This research will begin with the statement that the British labour market is a highly diverse one and, according to available statistics, is continually moving towards greater diversity.   According to 2005 data released by the Office of National Statistics, 5.4% of the current labour force is foreign, with EU and former Commonwealth migration statistics, among other non-British sources of labour inflow, indicating a continual increase. The previous year, 2005, was witness to the largest ever influx of foreign workers to Britain, totalling approximately 400,000.   In addition to that, diversity statistics indicate that ethnic minority groups comprise approximately 8% of the current workforce; 25% are non-Christian; and around 12% are disabled.   Statistics pertaining to gays and lesbians are indeterminate, largely because of a lack of national surveys but, are estimated to stand between 5-7%. The implication here is that the British workforce is, incontrovertibly diverse; a fa ct which poses challenges to organizational management. Over the past thirty years, legislature has effectively acknowledged the reality of the nation's existent and, ever-increasing, gender, ethnic, racial, religious and cultural diversity and has sought its positive address. From 2003 to 2006, Employment Equality regulations addressed the issues of all of age, religion/belief and sexual orientation, effectively establishing the legal and regulatory framework for both the prevention of direct and indirect discrimination against minority group employees while, at the same time, outlining the imperatives of equity. Prior to that, all of the Equal Pay Act (1970), the Sex Discrimination Act (1975), the Race Relations Act (1976) and the Race Relations Amendment Act (2000), among others, sought to ensure against both direct and indirect discrimination in the provision of goods and services and within the workplace. Consequently, from the legal and regulatory perspective, Britain has take n the requisite steps to ensure that its minority groups are extended the necessary opportunities for integration and assimilation. While the legal and regulatory framework provides against both direct and indirect discrimination in the workplace, the fact remains that it did so largely because it outlawed the aforementioned. It imposed a toleration of differences upon employees and co-workers but, does not establish the mechanism for directing either to look beyond the differences or, indeed, to accept, rather than simply tolerate them. From the perspective of the management sciences, the aforementioned can function to inhibit efficient and effective operation; can stand as an obstacle towards the articulation, let alone realisation, of strategic objectives; and can offset the design and subsequent dissemination of a unifying organizational culture. Of equal importance is the potentially negative effect it can have upon teamwork. At the same time, if managed efficiently, the benefi ts of a diversified workforce can reflect upon both financial and non-financial performance indicators. The concept of diversity management arose from within this context. It aims, not only to achieve more than toleration for differences but, the realisation of the benefits of workforce diversity for the organisations in question.

Entrepreneurship and Economic Growth Essay Example | Topics and Well Written Essays - 1500 words

Entrepreneurship and Economic Growth - Essay Example For economic growth to happen there is a need for entrepreneurs to assume, manage, and organize the risks that are in the various business ventures. While entrepreneurship is personal, it has an impact on the entire society, which affirms the positive correlation between entrepreneurship and economic growth. Entrepreneurship is usually s an outcome of complex factors that include socioeconomic, technological, and psychological factors within the environments in which the entrepreneurs live. As a process, entrepreneurship is very dynamic and risky as it involves a combination of human talent or creativity, capital and technology. The concept of entrepreneurship applies to small business enterprises as well as large businesses and multinational corporations. It also applies to economic activities and non-economic activities. Entrepreneurial activity on the other hand refers to the rate of new venture start up that is initiated or started by the entrepreneurs and is motivated by the ava ilability of opportunities. Economic development focuses on ways in which production and competition for resources in enhanced. It also involves the process through which per capita income of a country is increased. ... The economy is portrayed as a combination of enterprises and businesses each of which is a combination of the various factors of production. The Role of the Entrepreneur and Creativity The entrepreneur fulfills several functions. The most important function is that of innovation. The entrepreneur uses the available information and his creativity to come up with products that fulfill the need that has been identified in the society. The entrepreneur also comes up with improvements on the already existing products and comes up with new markets for the products. Being creative, the entrepreneur also comes up with a new organization for a specific industry. Through creative innovations, the entrepreneur converts the available material into resources. He also comes up with different ways to combine the available resources and come up with more products that are better and more productive. Creativity is therefore a very important part of the entrepreneurship process. In relation to entrepr eneurship, creativity is the process of developing new services and products that were previously unavailable (Wennekers, Stel, and Carree 45). An entrepreneur also has the responsibility of organizing the resources that are a necessary part of production. This means he has to use his creative and innovative abilities, and his leadership skills to coordinate the production team, generate the resources required for production, and supervise the process of production. The entrepreneur has to ensure that the available resources are channeled towards progressive activities in the pursuit that he has chosen. If the entrepreneur is not keen on the process of the organization of the resources, he may end up using the available resources to produce goods or services that are already in surplus.

If the North Were the South, Same Thing Essay Example for Free

If the North Were the South, Same Thing Essay Ricardo Arjona is one of the most renowned Latin American singers. He is characterized for his socially conscious and heartfelt folk ballads and rock tunes. In addition, he also plays a variety of styles that combine traditional South American folk music with rock, hip-hop, and classical music, Arjona sings about subjects ranging from faded love to social inequities. In 1996, Arjona wrote the song “Si el Norte Fuera el Sur” (If the North were the South), in which he expresses a subjective, yet truthful point of view of what the North American culture is; and how it could change if we exchange places with the South. In this song, Arjona uses many literactully techniques such as irony and analogies; Arjona also adds a type of hardcore rock and an interesting use of the electric guitar. There are many literally elements that this song has, but the main element is the plot or theme of the song, which is pretty straight and to the point. “Si el Norte Fuera el Sur” (If the North were the South)Â’s main plot is a story of how the North could experience all the social struggles that the South Americans countries have to deal with, if as the songÂ’s title suggest “. “Si el Norte Fuera el Sur” (If the North were the South). The main plot is divided into three stages; the first stage is the introduction, in which Arjona gives a subjective opinion of what the North really is all about. Then, he moves to the second stage or the body of the song; during this stage Arjona mentions a series of well known North American personages and situations that help him establish his exchange of geography. Finally, the third stage or conclusion is when Arjona really say what the bottom line of all this is; the fact that nothing will really change. Ricardo Arjona is well known for the rich content of literally elements in his lyrics, especially for the touch of irony and analogies. “Con 18 eres un nià ±o para un trago en algun bar, pero ya eres todo un hombre pa la guerra y pa matar.” (With 18, you are only a boy for a drink in some bar, but you are already a man to go to war and to kill), this is a perfect example of an irony of living in the United States, in which at the age of 18 you cannot legally drink, yet you are allow to receive combat training to kill someone.  In the songÂ’s chorus, Arjona says “al diablo la geografia se acabaron las fronteras” (The hell with geography, there arenÂ’t any borders left), the truth is that borders still exist, but he wasnÂ’t talking about a literally border; Arjona used this analogy to tell us that we are the same and that our geographic position doesnÂ’t mean anything. Ricardo Arjona with his unique style and use of musical instrument; he has put a type of hardcore rock rhythm, which is use to make an impression in his listener. In this song, Arjona utilizes an electric guitar, and a trumpet, with the drums on the back. The rhythm started slow tempo, but strong as if he was upset with the ironies in the North. Then, the tempo began to run faster; the drums and the trumpet were sort of creating an atmosphere of excitement, it makes you feel as if you were a protestant of social inequalities. Finally, he concludes with a slow and heavy electric guitar melody, where he then stop for at least 3 seconds and concludes with the words “Si el Norte fuera el Sur, seria la misma porqueria, yo cantaria un rap y esta cancion no existiria.” (If the North were the South, it would have been the same crap, I would be singing a rap and this song wouldnÂ’t even exist). References http://www.satyamag.com/may03/carter-long.htmlhttp://www.answers.com/topic/ricardo-arjona

Corporate Social Responsibility Essay Example for Free

Corporate Social Responsibility Essay Corporate social responsibility (CSR) is the idea that businesses conduct business practices for the social good while they pursue economic goals. It refers to operating a business in such a manner that all social environmental impacts that are created are then accounted for. Both market and nonmarket stakeholders expect businesses to be socially responsible. (Business and Society) It is a commitment to developing policies that integrate responsible business practices into daily operations, and to report on the progress made toward the implementation of these practices. (As you sow, 2011) So why is this so important? Some see this work as charity, philanthropy, or an allocation of resources that could better be donated by shareowners themselves, but to us, it is a vital investment in our future, essential to our top-line and bottom-line business success. Dunn, Hewlett Packard Senior Vice President for Global Citizenship Richard Murphy references a study, done in 2003 of buyer/supplier relationships, in his article â€Å"why doing good is good for business.† The study found a strong correlation between trust and procurement costs. The least trusted buyers in the study incurred procurement costs that were five times higher than the cost of most trusted buyers.† This statement alone shoes the value of social responsibility and how it now only impacts consumers views on the company but the relationships firms foster with suppliers. It is simply good for business. Throughout this report we will evaluate the importance of CSR and how it affects the firm and the impact the firm has on the community from and environmental perspective. A study performed in 2003, by researchers at the university of Iowa, evaluating the relationship between corporate social responsibility and firm performance; concluded â€Å"Corporate virtue, in the form of social responsibility and, to a lesser extent, environm ental responsibility is likely to pay off.† 1 After all it green is the color of money. It pays to go green this day in age. Going Green: Environmental Considerations Deseret Digital Media, also referred to as DDM, is an online internet conglomerate in the intermountain west. Being a media company, I’m sure much like others, environmental consideration are certainly a thought but not highly acted upon due to the â€Å"minimal† impact that online media has to the environment. While DDM has a strong company mission and culture, in which they excel and positively impact the community, they do little in means of protecting the environment. They are constantly in the public eye in their operation area due to their user base which leads me to believe that going â€Å"green† would only be a beneficial think for business. be good for business. Mark Orlitzky, Frank Schmidt, and Sara Rynes, â€Å"Corporate Social and Financial Performance: A Meta-analysis,† Organization Studies, 2003, pp. 403–41. Also investigating this issue are Marc Orlitzky and John D. Benjamin, â€Å"Corporate Social Performance and Firm Risk: A Meta-analytic Review,† Business Society, 2001, pp. 369–96; and for a contrarian view see Idris Mootee, â€Å"The Impact of Corporate Social Responsibility—From Creating Customer Goodwill to Influencing Social Standards,† Futurelab, blog.futurelab.net/2008/12. ENVIRONMENTAL CONSIDERATIONS We only have one earth, and one ecosystem. We each need to do our due diligence in protecting that ecosystem. Understanding the earth’s carrying capacity, how fast resources are being used and what we are doing to change that, can only positively affect our world ecosystem. Damaging any part of the ecosystem in one area can affect others in other parts of the world. (Lawrence Weber, 2010) Now human activity affects three major forms of natural resources; water, air and land. (Lawrence Weber, 2010) Deseret Digital Media can actively improve business practices and protocols to reduce the company’s impact on the usage of those three natural resources. Areas of impact below include but are not limited to: Water Resources: 3% of the water on earth is actually fresh. Only about one-tenth of 1 percent of the Earth’s water is in lakes, rivers, and accessible underground supplies, and thus available for human use. Water is, of course, renewable: Moisture evaporates from the oceans and returns to Earth as freshwater precipitation, replenishing used stocks. But in many areas, humans are using up or polluting water faster than it can be replaced or naturally purified, threatening people and businesses that depend on it. Humans are consuming/using water faster than it can be replaced or naturally purified, threatening those who depend on it. (Lawrence Weber, 2010) ï‚ § Considerations: DDM currently does nothing to maintain their water consumption. Currently the only consumption that is taking place is human usage by means of drinking water and restroom usage. Might not seem like a significant amount of consumption however; simple math, 100 employees x 64 ounces of drinking water = 6,400 ounces of water a day. While drinking water should not be regulated there are other ways to regulate water usage. ï‚ § Recommendations: A very simple concept used in all places, the restroom, can minimize water consumption quite significantly. Reducing the amount of usage by installing flushometeres. The current standard specifies that flushometers use no more than 1.6 gpf, though many manufacturers are shooting for 0.8 gpf (3 liters) 2. Urinals are also improving: The U.S. Department of Energys standards for urinals are currently at 1 gpf (3.8 liters)3. An important water-saving feature of commercial flushometers is that they can be designed to let users push a handle in one direction for liquid waste and another direction for solid waste. The latter would trigger a full flush while the former would trigger a partial flush. This dual-flush technology is becoming common other parts of the developed world, including the U.K. and Australia, though it has yet to become as popular in the United States. With wider use of these features, water efficiency is expected to improve for all toilet types. (Cancio, 2009) Air Pollutants/Energy Consumption: According to the American Lung Association (ALA) an estimate in 2008 reported that 125 million Americans, or 42 percent of the population, were breathing unsafe air for at least part of each year. (Lawrence Weber, 2010) This has to do with the pollutants that are being emitted into the air we are forced to breath. A major contributor the unsafe air and even more concerning; a major factor of Global Warming is the burning of fossil fuels that releases carbon dioxide. Not only do fossil fuels affect the air they also account for a huge percentage of the world’s energy source. 85% of the energy in the United States comes from fossil fuels by way of combustion of coal, oil and natural gas. (Lawrence Weber, 2010) Kohler. Power Lite Technology. (accessed December 11, 2009)http://www.us.kohler.com/tech/products/why_powerlite.jsp U.S. Department of Energy. Best Management Practice: Toilets and Urinals. Federal Energy Management Program. July 2009. (accessed December 16, 2009)http://www1.eere.energy.gov/femp/program/waterefficiency_bmp6.html Unfortunately the unlike water fossil fuels are nonrenewable energy sources. Even more concerning is that for every one barrel discovered for every three or four consumed. ((Lawrence Weber, 2010) 10) ï‚ § Considerations: When it comes to air pollution DDM luckily doesn’t have to worry about it as much, as say, a manufacturing facility. What needs to be considered more in depth is the amount of energy being used on daily basis. Being an internet company and hosting six websites 24/7, requires multiple servers and in turn a high consumption of energy. Along with traveling from coast to coast and using fossil fuel resources there are a few small â€Å"green† concepts that can be applied to reduce the amount energy being used. Deseret Digital Media has mentioned upgrading the hosting servers to protect the sensitive content, as well as, an energy saver. Recommendations: Something as simple as encouraging each employee to put their computers in an energy saving mode, turning computers in sleep mode or shut down when leaving for the evening. Updating IT equipment, and using energy saving light bulbs, are small changes that can make a sustainable difference. Land Waste: The United States produces an astonishing amount of solid waste, adding up to almost five pounds per person per day. Of this, 46 percent is recycled, composted, or incinerated, and the rest ends up in municipal landfills4. (Lawrence Weber, 2010) ï‚ § Considerations: While 46% is quite a large percentage there is more that can be done to protect the environment. Currently DDM has a small recycling program that is not widely publicized. While it is a great concept more needs to be done in order to encourage employees to use such programs. ï‚ § Recommendations: While having a small recycling program is a great concept more needs to be done encouraging employees. Posting flyers around the office, ensuring everyone is aware of the recyclable materials. DDM has numerous soda fountains throughout the building for their employees. Currently the drinking cups provided are Styrofoam that get thrown away regularly. Offering employees reusable hard plastic cups will help reduce the company’s carbon footprint and the amount of waste that is admitted into local landfills. ETICAL LEADERSHIP CONSIDERATIONS In simple terms what are ethics and how do they play a role in business? Ethics is a conception of right and wrong conduct. It tells us whether our behavior is moral or immoral and deals with fundamental human relationships—how we think and behave toward others and how we want them to think and behave toward us. Ethical principles are guides to moral behavior. (Lawrence Weber, 2010) Business ethics derive from the same moral compass. This generalized human trait is applicable to business and their ethical ideas and behavior within an organization. All areas of business, accounting, marketing and IT have to follow a certain standard of ethical considerations in operations. For this report in particular we will focus of ethical leadership and how they play a role in our green effort, with regards to social responsibility. Institutionalizing a code of ethics and ethical safeguards are grounds for encouraging environmental ethical performance. Institutionalizing a code of ethics encourages our employees to align with the company’s â€Å"green† mission (an articulation of our goals) and our societal obligations. By creating a strong code of ethics we are establishing expected behaviors among employees. Environmental Protection Agency, â€Å"Municipal Solid Waste in the United States: 2007 Facts and Figures,† www.epa.gov/epawaste. ethical behavior is extremely important because it will help to ensure that employees have predefined expectations of in office behavior and guidelines to follow in all functional areas of operation, as well as the companies green efforts. In the first line of the written mission statement form Deseret Digital Media (2012) it states, â€Å"The mission of Deseret Digital Media is to become the trusted digital voice in all of the markets we reach. This goal is part of our broader corporate mission to become â€Å"trusted voices of light and knowledge, reaching hundreds of millions people.†Ã¢â‚¬  They are trying to accomplish what any company is hoping to do as well, be a trusted place to come to for your product, service or information. To develop a strong presence in the market by adhering to the green policy suggested above, DDM can have a much greater impact on their local market. As much as it pays to be green, ethics pays as well. Below review the ethical leadership recommendations for each environmental issue discussed above. Water Resources: The water conservation suggestion presented above is a little bit more detailed and requires many parts in order to implement. To start management will need to get with building maintenance and even determine if this is possible to make such a change to the plumbing. From there the implementation process will take some time and patience leaving many toilets out of commission for a time. After the conversion process has been completed a company meeting will need to be held regarding how the new toilet process will work. It wont need to be in depth just a quick overview is needed and the importance and positive impact it will have on the community. Air Pollutants/Energy Consumption: With the recommendation above: Something as simple as encouraging each employee to put their computers in an energy saving mode, turning computers in sleep mode or shut down when leaving for the evening. Updating IT equipment, and using energy saving light bulbs, are small changes that can make a sustainable difference. A lot can be done by management’s actions. If management isn’t shutting down at the end of the night, and we have outdated equipment what makes employees inclined to want to save our resources. Leading by example and have management place their computers in an energy saving mode and sending a interoffice memo encouraging employees to do the same thing will definitely help reduce the amount of energy being consumed by DDM in a daily basis. As for updating the servers to be more energy efficient DDM is one step ahead of the game. They VP of Technology realized what an impact that would make and this suggestion is currently in process. Land Water: Since DDM has a tiny recycling program with limited recycling stations it would be suggested that management offer individual recycling bins to be stationed at each individuals workstation. This way it is more accessible/convenient for employees to recycle certain materials as opposed to throwing them into a waste bin, which will eventually be deposited into one of the nations landfills. This small step can mean great things for reducing the company’s carbon footprint. We want to accomplish just that by allowing consumers to feel safe buying our product and letting their children play with it. Their stakeholders are those who use media on a daily basis, while ours are children and parents of children who buy/use our toy collections. â€Å"All Deseret Media Companies are owned by The Church of Jesus Christ of Latter-day Saints. That ownership comes with a significant amount of trust and an expectation that we will align our actions to honor our owner. We want to work hard to demonstrate that we value our users and our marketplaces as well. To paraphrase the founder of largest the social media network in the world, We don’t create communities, they already exist. We know we have to earn the trust of the communities and individuals who choose to use our products. We are not perfect, but we want you to know that Deseret Digital is always working†¦Ã¢â‚¬  (Deseret Digital, 2012) We need to align our actions much like Deseret Digital Media is order to grow a successful business and maintain employee and customer satisfaction. MEASURING SUSTAINABILITY TRIPLE BOTTOM LINE Now that we have a solid suggestion for the implementation of our green movement, we need to ensure that it â€Å"makes sense† for the company. Not only in a socially responsible manner but also from a fiscal stand point. A common and effective way to measure environmental impact compared to the company’s financials is known as Triple Bottom Line Accounting (TBL). Triple Bottom Line is a concept that was first coined by John Elkington of SustainAbility in 1994, and it referred to the interrelated goals of economic prosperity, environmental quality, and social justice. He developed the TBL concept in context of the growing concern centered around sustainability. TBL added the social dimension to the corporate sustainability framework which had previously focused mostly on businesses’ environmental impacts. The next year, SustainAbility developed the 3P (People, Planet, Profits) formulation of the TBL. Elkingtons 1997 book, Cannibals with Forks: The Triple Bottom Line of 21st Century Business, helped launch the concept of the TBL among corporate leaders. (McNulty , 2012) The TBL concept provided a means of incorporating sustainability concerns within the traditional accounting framework familiar to and accepted by corporate managers. While there is no universally accepted means of practicing TBL accounting and reporting, the TBL framework is widespread in the business world. A 2008 survey by KPMG of the 250 largest companies in the world found that nearly 80 % of them issued corporate sustainability reports and that the large majority (77 %) of the companies reporting did so using the TBL standards developed by the Global Reporting Ini tiative (GRI). (McNulty , 2012) This concept enables the organization to effectively assess sustainability movements and performance. Furthermore the metrics provide managers with feedback to make more informed decision and displays a picture for employees to see exactly hoe their green efforts contribute to corporate sustainability goals. When making a decision to use the TBL the Global Reporting Initiative (GRI) is a great way to benchmark performance indicators for all three aspects; people, planet, and profits. The â€Å"people† component of the TBL refers to the social aspects of the an organization’s activites and impacts. In short it is meant to gauge the organizations impacts on and relations with its own employees, its suppliers and contractors, the communities within which the organization operates, and the organizations customers or clients. (McNulty , 2012) Since this is much harder to determine the social impact the ‘people’ component is slightly less developed so we aren’t going to focus too much on that. Compare to the ‘people’ aspect, with the â€Å"planet† component it is easier to measure environmental impacts. (McNulty , 2012) There are many metrics that contribute to the performance indicators used in the GRI. For the purposes of corporate sustainability, the Profits component of the TBL takes a broader view of an organizations economic impacts and evaluates the activities and impacts of a firm with respect to a wider array of stakeholders than just the firms owners. (McNulty , 2012) Below is an example of TBL principles: PowerStar, an electric utility company, is considering making an investment in a new power plant and is evaluating several options that use different technologies and would be located at different appropriate sites. The technologies being considered use different fuels and require different capital and labor inputs for construction and ongoing operations. In the past, PowerStar focused primarily on the financial returns associated with the different options. The firm has now adopted the TBL framework and is using a project evaluation matrix. This matrix evaluates how projects can be evaluated and trade-offs identified in terms of economic, social, and environmental impacts.

Perception Du Risque Et Intention French Essay

Perception Du Risque Et Intention French Essay La faible absorption par les Economies en Dà ©veloppement des ressources humaines qualifià ©es renforce le dà ©bat sur la nà ©cessità © de favoriser linsertion des jeunes par des initiatives autres que le travail salarià © ou le fonctionnariat. Diffà ©rentes initiatives sont prises allant jusquà   la crà ©ation des fonds dinsertion des jeunes par la mise à   disposition des crà ©dits de dà ©marrage et des structures daccompagnement. Malgrà © ces initiatives incitatives, beaucoup de jeunes ne sont pas candidats. Quelles sont les raisons possibles de cette rà ©ticence? une faible culture entrepreneuriale de ces jeunes ou une perception-menace du risque? une faible prà ©fà ©rence au risque? la perception du risque a-t-elle une influence sur leur prà ©disposition future à   crà ©er leurs propres entreprises? Cette recherche tente de rà ©pondre à   ces questions à   partir dune à ©tude de terrain menà ©e auprà ¨s de 500 à ©tudiants de cinq filià ¨res de formation. Mots clà ©s: Entrepreneuriat, Perception du risque, Prà ©fà ©rence au risque, intention entrepreneuriale Perception du risque et intention entrepreneuriale des à ©tudiants: une recherche comparative entre à ©tudiants en commerceet dautres formations universitaires au Bà ©nin RESUME La faible absorption par les Economies en Dà ©veloppement des ressources humaines qualifià ©es renforce le dà ©bat sur la nà ©cessità © de favoriser linsertion des jeunes par des initiatives autres que le travail salarià © ou le fonctionnariat. Diffà ©rentes initiatives sont prises allant jusquà   la crà ©ation des fonds dinsertion des jeunes par la mise à   disposition des crà ©dits de dà ©marrage et des structures daccompagnement. Malgrà © ces initiatives incitatives, beaucoup de jeunes ne sont pas candidats. Quelles sont les raisons possibles de cette rà ©ticence? une faible culture entrepreneuriale de ces jeunes ou une perception-menace du risque? une faible prà ©fà ©rence au risque? la perception du risque a-t-elle une influence sur leur prà ©disposition future à   crà ©er leurs propres entreprises? Cette recherche tente de rà ©pondre à   ces questions à   partir dune à ©tude de terrain menà ©e auprà ¨s de 500 à ©tudiants de cinq filià ¨res de formation. Mots clà ©s: Entrepreneuriat, Perception du risque, Prà ©fà ©rence au risque, intention entrepreneuriale Introduction Le dà ©veloppement du systà ¨me à ©ducatif à   travers la multiplication et la diversification des offres de formation permet aux nations de se doter des ressources humaines qualifià ©es pour animer divers secteurs de la vie à ©conomique et sociale. En consà ©quence chaque annà ©e, ce sont des milliers de jeunes diplà ´mà ©s qui sont libà ©rà ©s de nos università ©s et divers centres de formation pour à ªtre  «versà ©s » sur le marchà © de lemploi. Malheureusement sur ce marchà ©, le permanent dà ©sà ©quilibre qui existe entre loffre et la demande contraint gà ©nà ©ralement le surplus de demandeurs demploi au chà ´mage. Toute jeunesse à   travers le monde et en particulier celle des pays pauvres dAfrique est gà ©nà ©ralement victime de tels dà ©sà ©quilibres socio-à ©conomiques et professionnels. Face à   cette situation, les jeunes diplà ´mà ©s se comportement diffà ©remment selon les pays afin de soffrir des opportunità ©s de rà ©ussite dans le urs vies professionnelles privà ©es. Si dans les pays dà ©veloppà ©s, on note un cadre stimulant à   linitiative privà ©e, cest le cas contraire en Afrique. En effet, pour les contextes dà ©veloppà ©s, Hernandez (2006) souligne que face aux difficiles contraintes de la socià ©tà © postmoderne, sinvestir dans son propre projet professionnel, dans la crà ©ation de sa propre organisation, peut à ªtre vu comme une faà §on de redonner du sens à   une vie qui en manque de plus en plus. En Afrique, trà ¨s peu dentre eux arrivent à   prendre des initiatives personnelles pour crà ©er leur propre entreprise. Les quelques uns qui parviennent à   initier ont tendance à   imiter exactement ce qui se fait dà ©jà   sur le marchà ©, une attitude contraire à   ce qui caractà ©rise lentrepreneur dans la tradition Schumpetà ©rienne et rappelà © par Fonrouge (2008): lentrepreneur est celui qui propose de nouvelles combinaisons de produit et/ou manià ¨res de faire, donc un inno vateur. Pour la majorità © dentre eux en Afrique, cest la logique de  «lemploi à   tout prix »[1] (Sogbossi, 2005). Cest ainsi que par exemple au Bà ©nin, un phà ©nomà ¨ne connu gà ©nà ©ralement sous le nom de  «vacation » a vu le jour. Il consiste pour les jeunes cadres sortis des università ©s à   prendre dassaut les à ©tablissements denseignements secondaires pour y donner des cours dans lespoir du mieux. Sil est vrai que ce phà ©nomà ¨ne contribue fortement à   combler le dà ©ficit trop criard denseignants dans ces à ©tablissements, il nen demeure pas moins vrai que cela constitue un và ©ritable manque à   gagner aussi bien pour ces jeunes que pour tout le pays en gà ©nà ©ral. Malgrà © leurs formations qui font deux des gestionnaires, des à ©conomistes, des sociologues, des juristes etc., ces jeunes sont obligà ©s de donner des cours de Mathà ©matiques, de Sciences Physiques et Chimiques, de Biologies, de Franà §ais, dAnglais etc. dautres par contre finissent par regagner des professions militaires et paramilitaires afin de se garantir un emploi dà ©finitif. Cest donc dire que ces jeunes cherchent essentiellement à   soffrir un emploi salarià ©. Ils sont prà ªts à   tout sauf la crà ©ation dune entreprise. Ils sont presque tous obsà ©dà ©s par lidà ©e de gagner un emploi salarià © que lon est tentà © de conclure quils ont une aversion pour lentrepreneuriat. Cette situation contraste avec les conclusions de Hetezel (2006) pour les pays dà ©veloppà ©s. Dans son rapport, cet auteur souligne la forte tendance des jeunes à   entreprendre en donnant lexemple du passage chaque annà ©e de 8000 jeunes diplà ´mà ©s environ de lenseignement supà ƒ ©rieur du statut dà ©tudiant à   celui de crà ©ateur ou repreneur. Hernandez (2006) explique cette forte propension à   crà ©er par le fait que lindividu dà ©sorientà © dans sa vie privà ©e comme dans sa vie professionnelle, est en quà ªte de sens. Cest lune des raisons pour lesquelles lentrepreneuriat est aujourdhui devenu un enjeu important pour plusieurs nations. Basso (2005) explique cet enjeu par le fait que là ©mergence dun avenir radicalement non prà ©visible appelle la nà ©cessità © dune nouvelle posture volontariste, qui cherchera à   maà ®triser le risque en construisant son propre destin. En expliquant les facteurs dexistence de lentrepreneuriat chez les migrants maliens et sà ©nà ©galais en France, Dieng (2000) fait ressortir que la raretà © de lemploi, les difficultà ©s et la volontà © dune meilleure insertion à ©conomique et sociale entraà ®nent le dà ©veloppement de lentrepreneuriat chez ceux-ci. Il apparaà ®t alors que la capacità © des nouvelles entreprises à   gà ©nà ©rer de la croissance à ©conomique, des emplois et de linnovation justifie dailleurs amplement lintà ©rà ªt quelles suscitent. Devant cet enjeu, les milieux universitaires sont amenà ©s à   jouer un rà ´le de plus en plus actif, notamment en offrant des formations et supports à   leurs à ©tudiants de faà §on à   rendre la carrià ¨re entrepreneuriale plus accessible. Cette implication des università ©s est dautant plus importante dans le contexte actuel de la nouvelle à ©conomie oà ¹ les à ©tudiants sont de plus en plus amenà ©s à   considà ©rer cette avenue profession nelle (Gasse et al. 2006). Si un grand nombres duniversità ©s dà ©veloppent activement leurs liens avec le monde professionnel à   travers la formation professionnelle continue, les sà ©minaires, les projets de recherche conjoints, †¦ (Dontriaux, 1992), trà ¨s peu dinitiatives similaires existent dans les pays sous-dà ©veloppà ©s. Dans un tel contexte de faible culture entrepreneuriale et donc peu incitatif, lentrepreneuriat peut apparaà ®tre pour les jeunes diplà ´mà ©s comme est un acte hautement risquà © quil faut sabstenir dembrasser si on ne dispose pas dimportants moyens financiers et matà ©riels, et dun soutien indà ©fectible de son entourage. Alors que la situation de pauvretà © amà ¨ne les populations à   se battre autrement, on sà ©tonne de lattitude des jeunes diplà ´mà ©s, une attitude axà ©e sur lattente dun emploi salarià © et la rà ©ticence à   la crà ©ation. Un tel à ©tat des choses suscite assez dinterrogations dont une a particulià ¨rement retenu notre attention:  ¶ comment les jeunes à ©tudiants bà ©ninois perà §oivent-ils le risque entrepreneurial et quelle est leur prà ©fà ©rence au risque? Par ailleurs, Lentrepreneuriat entendu au sens strict comme une actività © crà ©atrice de nouvelles organisations, est considà ©rà © comme un phà ©nomà ¨ne producteur demploi et de richesse. Malheureusement, force est de constater que pour la jeunesse, lidà ©e dentrepreneuriat est source dune peur nourrie par la crainte de là ©chec. La crà ©ation dune entreprise, aussi passionnante quelle puisse paraà ®tre, comporte à ©galement des risques à ©normes. Par consà ©quent, elle ne saurait à ªtre une improvisation de la part de son auteur, mais plutà ´t le fruit dune intention nourrie auparavant de rà ©flexions et danalyses profondes. Dà ¨s lors, quelle est lintention entrepreneuriale des à ©tudiants en fin de formation? Enfin, en dehors de la perception du risque, des à ©tudes ont dà ©montrà © que les prà ©dispositions entrepreneuriales sont le fruit de plusieurs facteurs: les facteurs denvironnement (là ©volution des personnes dans des milieux donnà ©s) et les facteurs individuels (les promoteurs dentreprise possà ¨dent certaines caractà ©ristiques particulià ¨res). Gasse (2003) explique par exemple que la dà ©cision dentreprendre repose sur trois dimensionsfondamentales: la dà ©sirabilità ©[2], la faisabilità © perà §ue, la crà ©ation (les moyens). Lentrepreneuriat à ©tant avant tout une faà §on dà ªtre, un style de vie, la dà ©sirabilità © est influencà ©e par la famille et les proches, le milieu immà ©diat, le profil psychologique, lexpà ©rience, là ¢ge, le niveau dinstruction et de compà ©tence, le type de formation . Cest donc dire que le goà »t pour lentrepreneuriat peut à ªtre lià © au type de formation. Ainsi, Est-ce que la filià ¨re de formation des à ©tudiant s a-t-elle une influence sur leur intention entrepreneuriale? A travers ces questions, lobjectif gà ©nà ©ral de cette recherche est danalyser la perception du risque et lintention entrepreneuriale des à ©tudiants en fin de formation. Dans un contexte oà ¹ la notion traditionnelle demploi est remplacà ©e par le concept de portefeuille dactività ©s que chacun gà ¨re pour son compte (Hernandez), cette rà ©flexion sur lentrepreneuriat des jeunes en labsence dà ©tudes empiriques dans le contexte bà ©ninois est dun intà ©rà ªt rà ©el. Elle est structurà ©e en quatre parties: la partie thà ©orique, la mà ©thode utilisà ©e, les rà ©sultats et la conclusion. 1. Cadre conceptuel de la recherche Le terme  «entrepreneuriat »[3] est un terme trà ¨s large admis dans un sens individuel, collectif et pour lentreprise en entier. Cet à ©largissement de sens entraà ®ne ainsi, la multitude dacceptations quon retrouve dans la littà ©rature (Leger-Jarniou, 2008). En effet, procà ©dà © mis en place par des individus, lentrepreneuriat identifie de nouvelles opportunità ©s et les convertit en produits ou services commercialisables. Il est aussi laction de constituer une organisation et en particulier la crà ©ation dentreprise. Il recouvre lensemble des actività ©s rà ©elles quelque soit leur nature et susceptibles de procurer des gains futurs (Dieng, 2000). Pour Verstraete et Fayolle (2005), lentrepreneuriat est une  «initiative portà ©e par un individu (ou plusieurs individus sassociant pour loccasion) construisant ou saisissant une opportunità © daffaires (du moins ce qui est apprà ©cià © ou à ©valuà © comme tel) dont le profit nest pas forcà ©ment dordre pà ©cun iaire par limpulsion dune organisation pouvant faire naà ®tre une ou plusieurs entità ©s et crà ©ant de la valeur nouvelle (plus forte dans le cas dune innovation) pour des parties prenantes auxquelles le projet sadresse ». Lentrepreneuriat relie donc lindividu à   une opportunità ©[4], et cest justement dans ce sens que Brush et al. (2003) donneront une dà ©finition de lentrepreneuriat qui prendra en compte les deux notions: entrepreneur et opportunità ©. Pour eux, lentrepreneuriat est une discipline qui à ©tudie le processus par lequel les entrepreneurs identifient, explorent et exploitent une opportunità ©. Ainsi, lentrepreneur est souvent associà © à   la crà ©ation voire de faà §on rà ©solument synonymique (Verstraete, 2000). Ce dernier se rà ©serve, quant à   lui, de donner une dà ©finition de lentrepreneuriat; pour lui, cest un phà ©nomà ¨ne bien trop complexe pour à ªtre rà ©duit à   une simple dà ©finition. Il se rà ©sout à   en donner une plus large: ‘Lentrepreneuriat est un phà ©nomà ¨ne combinant un individu et une organisation, lun se dà ©finissant par rapport à   lautre et vice versa. Lengagement de cet individu dà ©pend de sa perception du risque lià © à   son initiative, une perception qui à   son tour dà ©terminera lintention entrepreneuriale. Ainsi, cette partie thà ©orique abordera successivement le risque entrepreneurial et lintention entrepreneuriale. 1.1 Le risque entrepreneurial et sa perception Pendant longtemps, les chercheurs en entrepreneuriat ont soutenu lidà ©e que crà ©er une entreprise est un comportement risquà ©. Fayolle et al. (2008) ont alors soulignà © que la volontà © à   prendre des risques ou la propension au risque à ©tait le trait de personnalità © qui discriminait les entrepreneurs des non-entrepreneurs. La prise de risque apparaà ®t ainsi comme lune des caractà ©ristiques distinctives du comportement entrepreneurial. Elle demeure au cÅ“ur des diffà ©rentes recherches qui ont abordà © lentrepreneur en ce sens que la crà ©ation dune nouvelle entreprise ou la reprise dune existante est par dà ©finition une aventure tachà ©e de risques. Le risque est prà ©sent dans tout projet, quel que soit lactività © ou le secteur visà ©, il est une consà ©quence à ©vidente de lincertitude et de la contingence dans laquelle baigne chaque projet. Sa perception est alors admise comme un dà ©terminant du comportement entrepreneurial de lindividu. Cette perception a à ©tà © conceptualisà ©e dune manià ¨re gà ©nà ©rale comme une à ©valuation du risque par le dà ©cideur ou lacteur dans une situation donnà ©e. Ainsi, le risque est perà §u comme un dà ©terminant du comportement risquà © et de la prise de dà ©cision entrepreneuriale. Autrement dit, la perception du risque est prà ©sumà ©e à ªtre nà ©gativement associà ©e avec les comportements ou les dà ©cisions risquà ©es et lacte de crà ©ation dentreprise. Macgrimmon et Wehrung (1985) postulaient que «la prise de risque comprend deux composants: le degrà © de risque des situations et la volontà © des individus à   prendre des risques ». Limportance relative de ces à ©là ©ments[5] a à ©voluà © au cours du temps dans la littà ©rature en une autre dimension de perception du risque qui vient de la thà ©orie du comportement planifià © (Ajzen, 1991) et de ses applications dans la littà ©rature en entrepreneuriat. Dans cette thà ©orie, les intentions vis-à  -vis dun comportement donnà © sont dà ©terminà ©es par les attitudes vis-à  -vis du comportement, le degrà © de perception du contrà ´le de ce comportement et les normes subjectives lià ©s à   ce comportement. Ces normes expriment une certaine pression sociale qui est perà §ue par les individus et les poussent à   rà ©aliser le comportement ou à   ne pas le faire. Fayolle et al. (2008) sintà ©ressant aux perceptions du risque associà ©es à   la dà ©cision de crà ©ation dentreprise, ont trouvà © logique dinclure une dimension sociale à   leur à ©chelle de mesure du risque. Au-delà   de tout, dà ©marrer une nouvelle entreprise exige non seulement une capacità © financià ¨re et un engagement personnel, mais aussi un important soutien de la famille et des amis. Inversement, le faire peut avoir des consà ©quences positives et nà ©gatives pour ces deux groupes sociaux. Par ailleurs, le risque est le facteur clà © qui motive les entrepreneurs à   sengager dans le processus de crà ©ation et à ©galement le facteur qui dà ©courage les non-entrepreneurs. Pendant que les uns le perà §oivent comme une opportunità © à   saisir absolument, les autres le voient plutà ´t en termes de menace potentielle quil faut à ©viter. Plusieurs auteurs se sont intà ©ressà ©s à   ces deux aspects du risque entrepreneurial. Dabord une conceptualisation originale du risque entrepreneurial qui sà ©carte des modà ¨les traditionnels basà ©s sur la thà ©orie de lutilità © a à ©tà © prà ©sentà ©e par Dickson et Giglierano (1986). Dans leur modà ¨le, le risque entrepreneurial a deux composantes: le risque dà ©chec[6] et le risque de manquer une opportunità ©[7]. Dans la continuità © des travaux de Dickson et Giglierano, Fayolle et al. (2008) pensent aussi que le risque entrepreneurial est mieux conceptualisà © en termes de risque dà ©chec et de risque de manquer une bonne opportunità ©.En complà ©ment, ces auteurs suggà ¨rent dà ©tendre les idà ©es de Dickson et Giglierano en conceptualisant deux types de risque: Le risque comme une menace et le risque comme une opportunità © En tant que menace, le risque correspond à   la vision classique perà §u à   travers des pertes potentielles, limportance de ces pertes et lincertitude de ces pertes (Mullins et Forlani, 2005; Yates et Stone ,1992).Il correspond à ©galement à   la notion de risque dà ©chec ou  «Sinking the boat » dans lapproche de Dickson et Giglierano En tant quopportunità ©, le risque reprà ©sente la face opposà ©e du risque, perà §u à   travers des gains potentiels, leur importance et leur incertitude. Les gains potentiels sont, bien à ©videmment, la force motrice poussant les entrepreneurs à   agir. La conception du risque comme une opportunità © permet donc une meilleure comprà ©hension des facteurs qui motivent les entrepreneurs, en intà ©grant plus particulià ¨rement des notions telles que le sentiment de regret. Ce dà ©veloppement mà ¨ne à   la proposition suivante: H1: Les à ©tudiants en fin de formation perà §oivent le risque entrepreneurial comme une menace parce quils ont gà ©nà ©ralement peur dentreprendre et prà ©fà ¨rent pour la plupart poursuivre un emploi salarià ©. 1.2 Lintention Entrepreneuriale Le concept de lintention[8] entrepreneuriale a à ©tà © dà ©fini et expliquà © par plusieurs auteurs. Parmi eux, retrouvons Krueger et Carsrud (1993) qui dà ©finissent lintention entrepreneuriale comme une structure cognitive qui conclut les fins et les moyens. Partageant cet avis, Bird (1988) prà ©cise que «celle-ci reprà ©sente un processus cognitif qui naà ®t avec les motivations les besoins, les valeurs et les croyances ». Pour Grant (1996), lintention entrepreneuriale est dà ©finie par les jugements de lindividu sur la probabilità © de possà ©der sa propre entreprise. Ajzen(1991) quant à   lui dà ©finit lintention comme un  «indicateur » de la volontà © à   essayer, de leffort que lon est prà ªt à   consentir pour se comporter dune certaine faà §on. Tournà ©s (2006) souligne quelle est caractà ©risà ©e par la dà ©termination, la rà ©solution et la volontà ©. Au regard de ces dà ©finitions, on pourrait dà ©duire la place quoccupe lintention dans le processus entrepreneurial. En psychologie, lintention sest avà ©rà ©e ainsi à ªtre le meilleur moyen de prà ©voir un comportement planifià ©, particulià ¨rement lorsque ce comportement est rare et difficile à   observer. La crà ©ation dentreprise en est lexemple type dun tel comportement planifià © et intentionnelles. Selon les modà ¨les dintentions entrepreneuriales, lintention prà ©cà ¨de laction. En dehors des actes routiniers oà ¹ laction peut prà ©cà ©der lintention, un comportement intentionnel peut prà ©dire par lintention davoir un comportement donnà ©. Krueger et Carsrud (1993) en concluent que lintention entrepreneuriale a un rà ´le central dans le processus entrepreneurial parce quelle forme un à ©là ©ment de soutien des nouvelles entreprises. Mà ªme si les idà ©es daffaires naissent avec linspiration, Bird (op.cit.) fait remarquer quune attention et une intention soutenues sont nà ©cessaires pour les rendre manifestes. Elle prà ©cise que lintention entrepreneuriale oriente lexpà ©rience et laction vers lobjectif de crà ©ation dentreprise. Ainsi les intentions entrepreneuriales sont essentielles à   la comprà ©hension du processus gà ©nà ©ral dentrepreneuriat car elles à ©tablissent les caractà ©ristiques initiales des nouvelles organisations. Elle va plus loin pour conclure que lentrepreneuriat est un processus oà ¹ lintentionnalità © est centrale. Selon elle, là ©tude de lintention entrepreneuriale, fournit une voie avancà ©e de la recherche qui permet de dà ©passer les à ©tudes descriptives. Il ressort de ces dà ©veloppements que lintention permet de prà ©dire le comportement et par consà ©quent son à ©tude est trà ¨s indispensable pour expliquer le processus qui conduit à   la crà ©ation dune entreprise. Son intensità © et sa pertinence vont dà ©terminer toute la suite de la dà ©marche entrepreneuriale de lindividu. Doà ¹ notre proposition: H2: Lintention entrepreneuriale des à ©tudiants en fin de formation est trà ¨s faible car trà ¨s peu dà ©tudiants ont la volontà © de crà ©er une entreprise à   lissue de leurs formations. 2. La mà ©thode utilisà ©e 2.1 Les participants Les à ©tudiants en fin de formation constituent la population de base de cette recherche. Il sagit des à ©tudiants des troisià ¨me (BAC+3) et quatrià ¨me (BAC+4) annà ©es des entità ©s de formation publique. Cinq domaines de formation sont concernà ©s : les sciences juridiques, lagronomie, la mà ©dà ©cine, là ©conomie et la gestion. 2.2 La mesure des variables Cette recherche porte sur trois variables: la perception du risque entrepreneurial, la prà ©fà ©rence au risque, lintention entrepreneuriale La perception du risque entrepreneurial a à ©tà © mesurà ©e dans cette recherche grà ¢ce à   cinq (05) items adaptà ©s des travaux de Fayolle et al. (2008). La prà ©fà ©rence au risque des à ©tudiants a à ©tà © apprà ©cià ©e à   partir de cinq (05) items issus de lobservation et adaptà ©s de Weber et al. (2002). Considà ©rà ©e comme une volontà © individuelle et une libertà ©, lintention ou la volontà © est considà ©rà ©e par Hernandez (1999) comme le premier à ©là ©ment nà ©cessaire pour crà ©er une organisation. Elle rà ©flà ¨te lobjectif ou les objectifs du ou des crà ©ateur (s). Lintention entrepreneuriale des à ©tudiants a à ©tà © à ©valuà ©e sur deux dimensions : la perception de la dà ©sirabilità © et la perception de la faisabilità ©. La dà ©sirabilità © à   lentrepreneuriat des à ©tudiants a à ©tà © apprà ©cià ©e à   travers trois itemsadaptà ©s de Bird (1988). Les trois items demandaient aux à ©tudiants de se prononcer surla forte probabilità © de crà ©er une entreprise ou de poursuivre un emploi salarià © aprà ¨s les à ©tudes et ce quils pensent de leur chance de rà ©ussir dans la vie professionnelle en crà ©ant une entreprise. Afin de savoir ce que pensent les à ©tudiants de la faisabilità © de leurs intentions de crà ©er une entreprise, nous avons à ©galement retenu trois items. Ces items demandaient aux à ©tudiants de se prononcer sur la facilità © pour eux de devenir crà ©ateurs dentreprise ou de trouver un emploi salarial et sils pensent avoir un contrà ´le parfait de la situation en tant que crà ©ateur dentreprise. 2.3 Les principales à ©tapes de la recherche Cette recherche a dà ©marrà © par une observation du comportement entrepreneurial des à ©tudiants pendant et aprà ¨s leur formation. Cette observation nous a permis de nous rendre compte que malgrà © le taux du chà ´mage croissant, trà ¨s peu dà ©tudiants sengagent dans lentrepreneuriat. Les constats de cette observation ont nourri lidà ©e de la prà ©sente recherche qui repose sur trois variables. Ils ont aussi permis dà ©laborer quelques items et dadapter ceux issus de la littà ©rature. La mesure de ces variables a à ©tà © faite sur la base dun questionnaire denquà ªtes quantitatives. Structurà © à   base dà ©chelle dattitude, ce questionnaire est composà © dun ensemble de dix huit (18) items et rà ©partis en trois dimensions : la perception du risque entrepreneurial, la prà ©fà ©rence au risque, lintention entrepreneuriale à   travers la perception de la dà ©sirabilità © et la perception de la faisabilità ©. La partie identification de lenquà ªtà © concerne le domaine dà ©tude, là ¢ge, le sexe, le contact et la prà ©sence dentrepreneur dans la famille des rà ©pondants. Dans le but de và ©rifier la comprà ©hension et la cohà ©rence des items, un prà ©-test a à ©tà © effectuà © auprà ¨s dune dizaine dà ©tudiants. Deux items ont à ©tà © à ©liminà ©s et cinq autres reformulà ©s. Limportance de chaque item a à ©tà © à ©valuà ©e sur une à ©chelle de type Likert à   quatre points variant de 1 à   4:  «Pas daccord »,  «Ne sais pas », un peu daccord et  «daccord. Par ailleurs, comme recommandà ©s par Smith et Blackbum (1988) et Aupperle et al. (1985), les proprià ©tà ©s psychomà ©triques de validità © et dintà ©grità © du questionnaire ont à ©tà © examinà ©es. Linstrument sest rà ©và ©là © robuste avec le coefficient alpha dintà ©grità © de CrombachS à ©gal à   0,79. En tenant compte de la taille des à ©tudiants en fin de formation des cinq entità ©s[9] de formation dont les filià ¨res sont concernà ©es par la prà ©sente recherche, la taille n de là ©chantillon a à ©tà © obtenue grà ¢ce à   la formule ci-aprà ¨s: n ≠¥ [tÃŽ ±2 p (1-p) ]/e2 p est le pourcentage dà ©tudiants en fin de formation , p = 15% et q = (1-p); e la marge derreur (ici nous retenons e = 5%); tÃŽ ± la valeur de la loi de Student au seuil ÃŽ ±; ÃŽ ± le seuil de confiance recherchà © (pour ÃŽ ± = 95%, tÃŽ ± = 1,96) n= (1,96)2Ãâ€"0,15Ãâ€"0,85/(0,05)2 Soit n= 196 à ©tudiants. Mais nous avons retenu cinq cent (500) à ©tudiants. Ces à ©tudiants interrogà ©s sont de la tranche dà ¢ge 22 à   29 ans avec une forte dominance des individus du sexe masculin qui sont au nombre de 404 à ©tudiants (soit 80,80%) contre seulement 96 à ©tudiantes (soit 19,20%). Par ailleurs, 64,80% des interrogà ©s nont aucun parent crà ©ateur dentreprisealors que 21,20% ont un seul parent crà ©ateur et 14% affirme avoir plusieurs parents crà ©ateurs dentreprises. Le tableau n °1, nous prà ©sente la rà ©partition des enquà ªtà ©s suivant les diffà ©rentes filià ¨res de formation. Tableau n °1 Rà ©partition des enquà ªtà ©s par filià ¨re de formation Filià ¨res de formation Effectifs Frà ©quences Agronomie 92 18,40% Droit 74 14,80% Economie 156 31,20% Gestion 130 26% Mà ©decine 48 9,60% Total 500 100% La mà ©thode dà ©chantillonnage retenue est celle non probabiliste, prà ©cisà ©ment la mà ©thode de convenance. Nous avons choisi la mà ©thode non probabiliste en raison des difficultà ©s dexploitation de la liste officielle des à ©tudiants notamment labsence de coordonnà ©es prà ©cises pouvant permettre leur identification. Le questionnaire a à ©tà © administrà © face à   face. Quant à   lanalyse des donnà ©es, les rà ©sultats lià ©s au risque perà §u, à   la prà ©fà ©rence au risque et à   lintention entreprneuriale ont fait lobjet de calcul de score. Quant à   linfluence de la filià ¨re dà ©tude sur lintention, un test de khi-deux a à ©tà © effectuà ©. 3. Les rà ©sultats de la recherche Les principaux rà ©sultats de notre recherche porteront successivement sur la perception du risque entrepreneurial, la prà ©fà ©rence au risque et lintention entrepreneuriale des à ©tudiants. 3.1 Perception du risque entrepreneurial Les rà ©sultats obtenus sont consignà ©s dans le tableau n °2. Tableau n °2: La perception du risque entrepreneurial par les à ©tudiants Items Pas daccord Ne sais pas Un peu daccord Daccord TOTAUX Lorsquon crà ©e une nouvelle entreprise les probabilità ©s de faillite sont trà ¨s à ©levà ©es 152 (30,40%) 236 (47,20%) 112 (22,40%) 500(100%) Dans la crà ©ation dune nouvelle entreprise, les possibilità ©s de gagner beaucoup dargent sont trà ¨s à ©levà ©es 144 (28,80%) 254 (50,80%) 102 (20,40%) 500 (100%) Si jà ©chouais dans la crà ©ation dune nouvelle entreprise, je perdrais mon honneur 270 54% 118 23,60% 112 22,40% 500 100% Toute idà ©e dentreprise comporte des risques; je vois cela comme une opportunità © 52 (10,40%) 02 (0,40%) 88 (17,60%) 358 (71,60%) 500 (100%) En rà ©sumà ©, je vois loption de crà ©er une nouvelle entreprise comme une chose positive 10 (2%) 04 (0,80%) 64 (12,80%) 422 (84,40%) 500 (100%) Source: Rà ©sultats des enquà ªtes, juin 2009 47,20% des à ©tudiants admettent quelque peu que les probabilità ©s de faillite des nouvelles entreprises sont trà ¨s à ©levà ©es, contre 22,40% qui ladmettent entià ¨rement. Ces rà ©sultats sont sensiblement voisins à   ceux recueillis à   propos des possibilità ©s de gagner beaucoup dargent dans la crà ©ation dune entreprise. Par contre, 54% dentre eux nadmettent pas quon pourrait perdre son honneur suite à   un à ©chec dans la crà ©ation dune nouvelle entreprise. La quasi-totalità © soit respectivement 71,60% et 84,40% est entià ¨rement daccord que le risque entrepreneurial est une opportunità © et la crà ©ation dune entreprise, une initiative positive. 3.2 Prà ©fà ©rence au risque Les rà ©sultats sont rà ©sumà ©s dans le tableau n °3 Tableau n °3: Lapprà ©ciation de prà ©fà ©rence au risque des à ©tudiants Items Pas daccord Ne sais pas Un peu daccord Daccord TOTAUX Entre crà ©er mon entreprise et à ªtre salarià ©, je prà ©fà ¨re crà ©er mon entreprise 38 7,60% 28 5,60% 98 19,60% 324 64,80% 500 100% Entre crà ©er mon entreprise et à ªtre salarià ©, je prà ©fà ¨re à ªtre salarià ©. 288 (57,60%) 34 (6,80%) 130 (26%) 48 (9,60%) 500 (100%) Je prà ©fà ¨re crà ©er mon entreprise car cela me rend indà ©pendant 40 (8%) 18 (3,60%) 98 (19,60%) 144 (28,80%) 500 (100%) Je prà ©fà ¨re à ªtre salarià © car cela me garantie lemploi 216 (43,20%) 22 (4,40%) 162 (32,40%) 100 (20%) 500 (100%) Je prà ©fà ¨re crà ©er mon entreprise car je peux y gagner beaucoup dargent 48 (9,60%) 20 (4%) 184 (36,80%) 248 (49,60%) 500 (100%) Source: Rà ©sultats des enquà ªtes, Juin 2009 Ici, la prà ©fà ©rence à   lentrepreneuriat a à ©tà © exprimà ©e à   64,80% contre seulement 9,60% pour lemploi salarià ©. On remarque à ©galement que 43,20% des rà ©pondants ne sont pas daccord pour la garantie de lemploi comme raison pour la prà ©fà ©rence à   lemploi salarià ©. Or 49,60% prà ©fà ¨rent lentrepreneuriat parce quils espà ¨rent y gagner beaucoup dargent. 3.3 Lintention entrepreneuriale des à ©tudiants Nous avons à ©valuà © lintention entrepreneuriale des à ©tudiants sous deux aspects: la perception de la dà ©sirabilità © et la perception de la faisabilità ©. Les tableaux 4 et 5 portent respectivement sur chacune de ces dimensions. Tableau n °4: La perception de la dà ©sirabilità © par les à ©tudiants Items Pas daccord Ne sais pas Un peu daccord Daccord TOTAUX Aprà ¨s mes à ©tudes, la probabilità © que je crà ©e mon entreprise est trà ¨s forte 66 (13,20%) 92 (18,40%) 156 1,20% 186 (37,20%) 500 (100%) Aprà ¨s mes à ©tudes, la probabilità © que je poursuive une carrià ¨re de salarià © est tr

The Relationship Between Confucianism And Buddhism Essay -- Confuciani

â€Å"It is often said that, aside from the impact of Marxism on twentieth-century China, the only other time when the Chinese looked beyond their own borders for intellectual sustenance was during the period when Buddhism was absorbed from India† (LaFleur 23). Why did this religion appeal to the Chinese when they disregarded so many other external influences? After all, being tied to the rest of the world by the Silk Road meant they were constantly inundated with novel concepts from far and wide. The answer must lie in how Buddhism interacted with the other faiths already established in the country, namely Confucianism and Daoism (sometimes spelled Taoism). While at first glance it may appear that Confucian China would be the last place Buddhism would find a niche, it was in fact the combination of Confucianism and Daoism that laid a foundation at least slightly receptive toward this new faith from India. This paper will focus mainly on the interaction between Buddhism and C onfucianism. Buddhism made it to China over land in the first century C.E. from the northwest and by sea in the second century C.E. The main influence, however, came from the northwest via the Silk Road (Zuercher 415). In fact, Buddhism's main avenue of expansion was along trade routes throughout Asia. According to Jason Neelis, trade as a vehicle for the expansion of Buddhism is reflected in the fact that the religion spread in an irregular pattern unlike typical diffusion (Neelis 7). It was the Theravada branch in particular that has been associated with trade. Mahayana, on the other hand focused on the more settled, agricultural lifestyle. Ironically it is this branch that took hold in China. Once trade brought the religion within China’s bor... ...Encyclopaedia Britannica, 2012. Web. 6 October. 2012. LaFleur, William R. Buddhism: A Cultural Perspective. Ed. Robert S. Ellwood. Upper Saddle River, NJ: Prentice Hall, 1988. Neelis, Jason. Early Buddhist Transmission and Trade Networks: Mobility and Exchange within and beyond the Northwestern Borderlands of South Asia. Leiden: Brill, 2011. Powers, John. Introduction to Tibetan Buddhism. 2nd ed. Ithaca, NY: Snow Lion, 2007. Saunders, Kenneth J. â€Å"Buddhism in China – A Historical Sketch.† The Journal of Religion 3 (1923): 157-69. Shien, Gi-Ming. â€Å"The Epistemology of Buddhism, Taoism and Confucianism.† Philosophy 28 (1953): 260-264. Zuercher, Erik. â€Å"Buddhism in China.† In The Encyclopedia of Religion, edited by Mircea Eliade, vol. 2, 414-21. New York: MacMillan, 1987.

Study of Communication Essay -- Virtual Communication, The Black Box

Virtual Communication With the advent of the Internet, more people go into the virtual world. Chat rooms, forums and various online communities, ICQ etc. All this, without a doubt, makes communication easier and more affordable. You can also find friends you can write all kinds of stuff, and you do nothing for it will not! Well, think of it, pull up ... Come out if you do not like it and go to another chat room, for example. Some people find mates with the same interests, join the online community, sitting on various forums that discuss various issues, share experiences, etc. Of course, it's all right. Thanks to the Internet you can find almost any information, answers for many troubling questions. there is the possibility of anonymity (Silverstein, 2004: 35). Coined a nickname entered into any Internet site, put in any photo, even if it is not you. Also, a tremendous plus is that it is possible to communicate with people from different cities. Only here in the real world to communicate sometimes is diffi cult to obtain. Thickly not find the words. Heading into the virtual world, we cannot see the reality! We are more and more addictive. It seems that a virtual world where beautiful. Gradually, in real life, we begin to live by instinct, by inertia, because we need. After all, one must work to earn money. One cannot call to feed air or the virtual food. (Glogoff, 2001: 3) Function and Relationship: Essence of Perception From the perspective of general systems theory, the family is a dynamic and self-correcting and therefore, our comments should be directed both to the transactions that occur within them, as to the internal structure of the system in other words, which we will be interested to know the interaction between membe... ...ear accidents (Becker, 2000: 54)( Venugopal, 2011) Jean-Claude Bradley an associate professor of chemistry at the Drexel University is one among the science educator who makes use of this second life environment to help his curriculum. Second life was used by Bradley to teach the organic chemistry’s basic concepts. Students who wish to attend Dr. Bradley’s class using the second life activities will create an organic molecule with the help of 3-D simulation. From this method the students started using the Internet to learn chemistry for the first time keeping in mind about the feelings of the physical structure when we do in the real life. In distance education, which makes students worry about making them feel isolated from both their instructors and peers, Second Life provides a fresh online communications alternative (Benkler, 2006: 10)( Venugopal, 2011)

My Hospice Volunteer Experience Essay -- Contribution to My Community S

My first encounter with hospice was on the receiving end and I remember asking the hospice nurse that first day, â€Å"How can you do this every day?† I will never forget her answer, â€Å"Hospice is not about dying, it’s about affirming life, helping people live their last days to the fullest.† During the next several months, I began to understand how true her words were. Today, as a volunteer, those words echo in my mind each time I’m about to meet a new patient. I was so excited to get my first assignment; I had taken all the volunteer classes, listened to countless stories from other volunteers. I was trained and eager †¦until I received my assignment. Anna was a 92 years old lady with colon cancer given only a few days to live. Anna was bedridden and mute. Mute†¦none of the stories I had heard ever mentioned their patients being mute. A thousand questions came to mind along with a mild panic attack. How would I ever know what she needed? Would I know the right words? How would I give her support and companionship if she couldn’t tell me what she needed? Would I be enough? I was a nervous wreck! Getting ready to walk into Anna’s hospice room, my anxiety level was escalating. Saying a quick prayer, I asked God to help me find the right words to comfort Anna and her family. Upon knocking on her door, a young lady in her middle 20’s answered the door. Opening the door for me, she informed me Anna was her grandmother and she would like me just to sit with her and that she would return after work. And she left. No get to know you introduction here, very formal, matter of fact, serious kind of girl. No one was going to invade her space. Oh well, I thought, I’m here to help Anna, hopefully Julie will open up later. Turning my attenti... ...slightly. The disease seemed to loosen its grip on her body with each stroke. I was rejoicing when Anna’s head finally rested on her pillow, something that hadn’t happened since I had gotten there. By the time Julie returned her grandmother was ever so lightly snoring. The look of gratification and appreciation of Julie’s previously stern face melted my heart and again my eyes welled with tears. The fence Julie had built around her heart slowly disintegrated as she observed the bond I had developed with her â€Å"mom†. With a quivering voice, Julie revealed the stress and emotional turmoil of watching this devastating disease imprison the only mother she had ever known. Volunteering for hospice has been one of the most gratifying things I have done. Every patient is different and sometimes you’re just there to support the family, but every family is so appreciative.