Saturday, August 31, 2019

Ethics in Asia: a Study of Several Ethical Issues in Japan

Understanding Business Ethics in Asia: A Study of Several Ethical Issues in Japan, Indonesia and Mongolia Anggita Putri, Nasa Lkhagvasuren, Takashi Ushijima Brigham Young University International business ethics has been an issue researched and understood by companies, government entities, NGOs, and other institutions worldwide. Understanding business ethics becomes more important as entities understand the significance of cultural values in different countries.De George (1997) describes that as business is going global and cultural values are becoming more evident, it is â€Å"more urgent for agreement on common values that make world trade and commerce possible without any party feeling or being exploited†. This agreement on common values has been achieved on some scale and level; however, in many parts of the world, cultural values and circumstances usually still hold more weight in the decision process. This paper addresses several ethical values in three representative As ian countries: Japan, Indonesia, and Mongolia.The three countries are located in three different parts of Asia with difference in economy, social, and culture values. Therefore, each country has its own unique way of approaching and overcoming ethical issues. For each of the different issues, we will provide background information and history and then we will discuss and develop the issue. First, the paper will address Nabakari-Kanrishoku (Nominal Manager) which is an ethical issue in the workplace in Japan. Second, the paper will discuss gratification giving in local and national government which is a prevalent ethical issue in Indonesia.Last, the paper will talk about the development of ethical standards in Mongolia. The conclusion of the paper will summarize the importance of understanding cultural aspects while implementing ethical standards in different countries, and discuss a few ethical theories that will help frame the ethical issues discussed. Japan Background Information Since the birth of the idea of Capitalism, a conflict of interests has existed between employers and employees. In general, employers’ genuine best nterest is to maximize their profits; whereas, the employees’ interests are to receive wages out of the least work hours. However, without regulations, laws, or rules, historically, the conflict has tended to favor the employers. Therefore, working long hours has been one major ethical issue in workplaces all over the world, especially in capitalistic countries. Nabakari-Kanrishoku (nominal manager)-hereinafter referred to as NK- is a unique phenomenon in Japanese society which represents the working-long-hours ethical issue in Japan.Labor Standard Act (hereinafter referred to as LSA) prohibits that working hours exceed 40 hours per week unless (1) the agreement exists between the employer and the employee and approved by municipalities (Article 36) or (2) the employer pays overtime rate to the employee (Article 37). Ethica l Issues in Workplace in Japan: Nabakari-Kanrishoku (Nominal Manager) The dilemma exists between employers and employees under recession. Employers have to make sure their business runs appropriately and generates a sufficient amount of profits.In the case of a recession, employers/companies have to cut costs significantly because increase of revenue is rarely expected. In general, the large amount of expenditure is labor costs; therefore, cut labor costs, such as layoffs, increase the workload of each employee. However, the increase of workload often causes overtime work for each employee and the increase of overtime premium adversely affects the cut labor costs (Mizuno, 2012). Therefore, employers/companies have to face the dilemma of how extensive their cut labor costs will be while also dealing with the increase in employee workload and overtime work.Responding to such a dilemma, NK emerged in the Japanese business society as a loophole of LSA when Japan started experiencing rec ession in the 1990s. LSA states that management representatives are not subjected to the work-hour regulation ratified by LSA article 32, which stipulates 40working-hours per week as a legal ceiling of weekly working-hours (Article 41). Therefore, some employers/companies promote and consider managers as management representatives to avoid the weekly working-hours regulation in order to have them overwork without an overtime premium.Those management representatives are often not credited with any authorization or allowance for the position. The media sarcastically began to call these management representatives â€Å"Nabakari-Kanrishoku† (nominal managers). Unethical Consequences of Nabakari-Kanrishoku The major reason why NK is an ethical issue is that employers/companies tend to force NK to overwork. LSA is set up for balancing employer and employee interests to protect employees’ health and human rights. Then, the relationship between employers and employees tends to favor the employers side without LSA regulation because of its power balance.NK is not protected by the LSA weekly working-hour regulation, so they are highly likely to overwork. The research conducted by JILPT (Japan Institute for Labor Policy and Training) indicates that most managers (60. 2 percent of department chief and 53. 4 percent of department head) feel their workload cannot be accomplished within their given working-hours (40 hours per week) so overwork is unavoidable (Ogura, 2009). NK’s overwork often leads to two types of unethical consequences. One is that employers/companies do not pay an adequate amount of wages to employees who are NK and overworked.The other is that overworking NK’s damages their health and causes them to be non-workable. Both types of unethical consequences are exposed by the lawsuit of McDonald Japan in 2008. Mr. Hiroshi Takano, former store manager of the McDonald Kousaka Branch, overworked for 136 hours in a month at maximum and worked 63 days in a row (Yashiro, 2009). Even though he had worked many hours as a store manager, he did not receive a premium and his wages ended up on the same level as his subordinate’s wages, who received overtime premium every month (Yashiro, 2009).After being overworked, he was diagnosed with an asymptomatic cerebral infarction due to overwork and lack of sleep. Under such condition, employees cannot have a healthy, balanced life. The lack of healthy, balanced life then leads to negative impacts on their performance in the workplace; therefore, employers/companies must avoid utilizing NK as their labor cost cut strategy in ethical and business management terms. When working at a Japanese Bar, Murasaki, one employee was obviously an NK.He was expected to work and run the bar even if there were enough employees to operate. He always overworked and rarely took a day off. He ended up quitting his job when he fell sick due to overwork, and the bar experienced a tough situati on after he quit. Murasaki’s unethical management not only damaged one employee, but also its business administration. Indonesia Background Information Similar to any other developing country, corruption is a prevalent ethical issue in Indonesia. Corruption takes many forms and is practiced in all levels of government.Because Indonesia is a country with many islands with over 30 provinces, corruption is more common in some areas than in others. Srinivasan (2012) argued that there are two major categories of ethical issues: societal, that consists of widespread corruption and weak legal enforcement systems, and organizational, that consists â€Å"of creating corporate cultures within organizations that breeds ethical conduct†. Both of these categories have happened in government institutions throughout Indonesia.Some major changes that the Indonesian government has made are: replacing employees, especially government institution managers that are guilty of corruption, c hanging the internal system and procedures of the institution, and encouraging citizens to help institution managers and staff to avoid corruption. One form of corruption that is very common in Indonesia is called gratification. Gratification in Local and National Government in Indonesia After the democratic revolution in 1998, Indonesia faced several presidential changes.When the current president was elected, he formed a national committee of corruption eradication (Komisi Pemberantasan Korupsi or KPK) to eliminate corruption from all levels of government. Since it was formed, the committee has been able to identify and investigate corruption cases from top managers in the government. In 2010, the committee also did a survey to assess public sector integrity on a local and national level. The committee specifically focused on gratification cases using these indicators: the monetary value of gratification, as well as the time, the meaning , and the purpose of gratification giving.T he committee found that among 50 government institutions on both the national and local level that were surveyed, 24 of them have a lower integrity rate than the appointed standard integrity rate for the survey. Most institutions out of the 24 surveyed were at the local level. The giving of gratification happens when citizens pay extra fees to the institution’s staff other than the established fees to quicken and complete their documentation process or to obtain certain permits so that they don’t have to wait in line or to wait for a few days.The research also found that gratification often happens at the beginning of the documentation process. Gratification frequently occurs when obtaining citizenship cards and building permits. For example, if a certain company wants to obtain a building permit, a representative of the company would give extra money to one of the staffs that process the document to either make sure that building permit is ready within one day or to n ot disqualify the company if it misses some required papers.The committee also discovered that the working environment of institutions has an effect on whether citizens are likely to be involved in gratification giving. The committee argued that uncomfortable service environments and incomplete information cause citizens to be reluctant in processing their documents. This possibly creates external procedures by using a middle-man or giving gratification money to the institution’s staff. Overcoming the IssueDe George (1997) quoted these sentences from the Wall Street Journal: â€Å"In May 1996, the United States proposed that the â€Å"World Trade Organization (WTO) outlaw bribery on government projects. In reply, the Indonesian Trade and Industry Minister Tunky Ariwibowo said: â€Å"We do not have common standards on issues like corruption†¦ Any effort to relate them to trade will be detrimental to the functioning of the WTO in the future' (Wall Street Journal 6 May 1 996: A14)†. As a comment to that reply, an editorial writer from the Wall Street Journal wrote a column entitled â€Å"Is Corruption an Asian Virtue? Corruption is clearly not an Asian virtue. De George continued to say that â€Å"both the Wall Street Journal's question and the statement by the Indonesian Minister exemplify deep misunderstandings and differences between the two, and between the groups they represent†. It is clearly difficult to pinpoint what kind of ethical values should be the same for every country because there are different factors that contribute to the development of the economy and society of a country. In the research done by the national committee of corruption eradication, 56 percent of citizens believes that gratification is not acceptable.However, many of the citizens do not fully understand the meaning of gratification, the ethical consequences of the issue, and are not assertive enough in stopping the practice. Most citizens agree that gr atification is illegal and that it is something which needs to be eliminated in order to create a system that is fair and effective for every citizen. Therefore, trainings and campaigns are needed for both the government institutions and the citizens in order for each group to support the discontinuation of gratification giving. Mongolia Background Information Mongolia is a landlocked country with a population of three million people.Mongolia was under strong Russian and Soviet influence; therefore, Mongolian politics followed the same patterns as the Soviet politics of the time. After the breakdown of communist regimes in Eastern Europe in late 1989, Mongolia saw its own democratic revolution in early 1990, which led to a multi-party system, a new constitution in 1992, and a transition to market economy. The growth of the economy attracted more attention from foreign investors, whose interest in investing in the country has recently skyrocketed due to the discovery of rich minerals in MongoliaEthical dilemmas in the work field did not become a big issue until 1990.It was difficult for a lot of Mongolians to adapt to changes in the work field because people were used to being told what they should do at work. The Development of Ethical Standards in Mongolia As in any other country, gaining a deeper understanding of the Mongolian attitude towards business ethics depends to a large extent on knowledge of the local market condition and historical background. According to IMF, The Mongolian economy is growing rapidly from 9% to 14. 4%. With continuing economic progress and interest growth from foreign investors, business ethics are likely to increase in importance.Because some actions may be considered moral in one culture and viewed unethical in another, it is important to understand the ethical values of other countries. Choi & Zuzaan (2011) in Journal of Applied Ethics conducted a survey that identified the action and behavior of role models as a principal infl uence on unethical behavior in Mongolia. The result of the survey indicated that 45. 6 percent of the respondents said that unethical practices exist in their industry and 25. percent of the respondents wanted to eliminate cheating customers, dishonesty in making or keeping a contract, miscellaneous unfair competitive practices, and dishonest advertising. Giving of gifts, gratuities, and briberies are very common in Mongolian business practice, but 10. 7 percent of the survey respondents want to eliminate this unethical practice. Most international comparison agencies indicate that Mongolian companies make less effort in instilling ethical practices in their employees than in other Asian firms. However, the majority of managers in Mongolia (60. 8 percent) think their companies make an effort to some extent.The survey results show that nearly half of the companies rely on a code of ethics and do not think that companies put enough effort into building ethical values in their organiza tions. If companies can put more effort into building ethical values in their organizations, they will be more successful in implementing their organization’s ethical values and feel more responsible to local communities. It is not uncommon for business managers to experience conflicts between their personal ethical beliefs and the interest of their companies. Almost half of company managers have experienced this type of conflict in their career.More than half of the managers responded that they would act depending on the situation. One of the main reasons managers make unethical decisions is often related to personal financial needs. As the Mongolian economy continues to develop, this is expected to diminish. Looking to the Future How is today’s level of ethical standards in Mongolia compare to ten years ago? Half of the respondent managers said that it has gotten better. For example, before the 1990’s transition period, it was common for Mongolian children to drop out of school in order to help their parents herd privatized livestock.Helping parents with livestock was given greater importance than education because it helped families accumulate wealth. Conversely, 90 percentof the total populations are high school or university graduates today. The transition resulted in making education more important in society and introducing ethics in school. Hopefully this gradual development will lead to a higher business ethic in society in the long run. Because Mongolia is a developing country, the country will continue to struggle with ethical values in the business field.However, Mongolians have already started to practice codes of ethics and training employees in ethics. Old, Mongolian tradition, the remaining tradition of the Soviet period, and the transitional process influences how Mongolians view their personal and business ethics. As the Mongolian economy grows and progresses, an increase in building ethical value will also come along wit h all the other practices. Conclusion Ethical theories, such as utilitarianism, deontology, virtue ethics, and social contracts can also play into the decision making process. For example, the bribery case in Indonesia can relate to disclosure decision criteria.Think about if those that have been involved in bribery think twice before doing so and ask a question whether this decision will affect image and reputation if it goes public. They may have avoided giving gratification money and would encourage others not to do so. Take another example, what if the nominal managers use the dignity decision criteria? They may not force their employees to work long hours because it would mean treating the employees as a mean to an end in themselves, not just as a means. As discussed above, three different Asian countries presented different ethical issues.Nominal Manager may be a prevalent ethical issue in Japan but it may not be in Mongolia. Gratification giving is very common in Indonesia bu t it may not be in Japan. De George (1997) argued that each economy is a combination of the country’s political system and cultural values. Consequently, ethical justifications differ from country to country. He further gave an example of Confucian values, which include â€Å"co-operation over competition; community over the individual; paternalism over the market; long-term over shortterm interests; harmony over conflict; and loyalty, harmony and respect over their opposites†.These values could appropriately explain the transition in countries that uphold those values and why some countries, especially in Asia, view some ethical issues differently than other countries References Choi, T. , & Zuzaan, B. (2011). Business Ethics in Emerging Markets: Evidence from Mongolia. Ramon Llull Journal of Applied Ethics 1:89-120. De George, R. T. (1997). Ethics, Corruption, and Doing Business in Asia. The Asia Pacific Journal of Economics & Business 1. 1: 39-52, 114. Direktorat Pe nelitian dan Pengembangan. (2011).Integritas Sektor Publik Indonesia Tahun 2010: Fakta Korupsi Dalam Layanan Publik [Public Sector Integrity of Indonesia Year 2012: Corruption Facts in Public Sector]. Komisi Pemberantasan Korupsi [Committee of Corruption Eradication]. Health, Labour, and Welfare Ministry of Japan. (n. d. ). Soumusho Hourei Deta Teikyou Shisutemu [Internal Affairs and Communications Ministry of Japan's Legal Data Providing System]. Retrieved 10 18, 2012, from Internal Affairs and Communications Ministry of Japan: http://law. e-gov. go. jp/htmldata/S22/S22HO049. html Mizuno, Y. (2012, 1 10).Roudou Jikan House no Kadai to Kaikaku no Houkousei [The working-hour legal problems and the direction of the restructure]. RIETI Discussion Paper Series, 1-11. Ogura, K. (2009). Kanrishoku no Roudoujikan to Gyoumuryou no Oosa [The Amount of Managers' working-hours and Workload]. Nihon Roudou Kenkyu Zasshi [Japan Labour Research Journal], 73-87. Srinivasan, Vasanthi. (2011). Busine ss Ethics in South and South East Asia. Journal of Business Ethics: 73-81. Yashiro, A. (2009). Naze Nabakari Kanrishoku ga Umareru no ka? [Why nominal managers emerged? ]. Nihon Roudou Kenkyu Zasshi [Japan Labour Research Journal], 38-41.

Friday, August 30, 2019

Revenue allocation Essay

Revenue means income. Allocation means to divide. Revenue allocation is defined as the division of available resources within an organisation or company. At a broader level, it is the process of assigning a cost to the amount of services and products generated. Government revenue is obtained from taxes, licenses and fees and allocated to public facilities. Because of the current revenue allocation formula In Nigeria, though there is a great deal of wealth In the country from the oil Industry, 64% of the population lives below the poverty line. While the federal government akes over half of all the money In the Nigerian federal account, little has been done to promote welfare and development projects that would benefit the general public. According to the Nigerian Revenue Moblllzatlon Allocation and Fiscal Commission, a new revenue allocation formula Is In the works, but It remains to be seen If these measures are enough to remedy the problem. When Nigeria’s maverick CBN Governor recently In an Interview Justified the sadlstlc, sub-human and horrific terrorist activities going on In the North of Nigeria by attributing It to the fact that 011 evenue was being unfairly shared on the basis of derivation primarily instead of population which is the North’s competitive advantage, I was shocked that such a flawed argument could come from such a respected Nigerian whose controversial reform of the Nigerian banking sector has won him praises and awards locally and internationally. SLS traced the root cause of terrorism in the North to grinding poverty in the North which he claims was caused by Nigeria’s use of the derivation principle instead of population as the primary yardstick for allocating revenue among he states. He believes that this preference for the derivation principle has short- changed the North and disadvantaged it. I totally disagree with SLS and will articulate in this article my reasons for disagreeing with him and my suggestions on the way forward for Nigeria using history as a guide to arrive at what I believe is a Just solution that will be favourable to all.

Thursday, August 29, 2019

Analyzing the Flesh and the Spirit by Anne Bradstreet

Analyzing the Flesh and the Spirit by Anne Bradstreet Five Literary Criticisms Throughout history, there have been many religious faiths and practices that aim the same goal in different ways. One of them was Puritanism and the Puritan believed that the best way to gain admission to heaven was to focus on how sinful they were. Anne Bradstreet was the first Puritan figure in American Literature and in her poem titled The Flesh and the Spirit, she discussed Puritan practices. This essay will analyses the poem with 5 literary criticisms, including Marxist Criticism, Feminist Criticism, New Criticism, Reader-response Criticism, and Psychoanalytic Criticism. Starting with the Marxist Criticism, we need to look at the era’s economic conditions first. Anne Bradstreet lived in the Massachusetts Bay Colony and the colony was highly dependent on the import of staples from England. The Puritan dislike of ostentation led the colony to also regulate expenditures on what it perceived as luxury items. Items of personal adornment were f rowned upon. In the poem, we see two characters discussing what kind of life people should have. The sister named Flesh tries to explain to her sister named Spirit that the World has everything that could keep them happy and content. Flesh’s this kind of approach to the earthly goods is totally against Puritan believes. As the colony Bradstreet lived in already frowned upon luxury items, the sister Spirit says, †My Crown not Diamonds, Pearls, and gold, / But such as Angels’ heads infold.† Here, she means that she doesn’t have a materialist personality. The poet, Bradstreet, reflects her colony’s world-view for the economic matters in those lines. When we try to analyze this poem using the Feminist Criticism, we simply need to ask some questions regarding to poet’s sex, education, and then look at the characters. The poet was a woman. And when we read her biography, we see that she didn’t attend any school but was educated by hi s father. This informs us that she lived in a male-dominant society because girls didn’t attend school even if her father was a steward. The characters in the poem are also girls and they discuss religious matters. Here, the author breaks the male-dominant society and makes her female characters question the religious matters, especially the Puritanism. When the subject is religion, one shouldn’t even question the most unimportant thing. But the sister Flesh questions it and all she says is totally against the Puritanism seen in the poet’s colony. Since the poet herself is a woman, we can assume that a woman discusses a religious practice in a male-dominant society. Analyzing a poem with New Criticism requires a person not to take background information of the poet, poet’s other works or the story in the poem into consideration. When we read what Spirit says about earthly goods and how she criticizes what Flesh claims that people need to enjoy them, we can understand that this poem reflects the Puritan beliefs. Words used in the poem belong to the English spoken at least 350 years ago. Metaphors were also used in the poem. The character Flesh is a metaphor for earthly items, such as diamonds, pearls, and gold. The poem is not also in a stanza form. It looks like a wall of text. This means that the poet didn’t want to separate what is wanted to mean. It means that the poem is all about the same thing. Rhymes used in the poem also makes it sound better and that way it attracts readers’ attention. When I try to analyze this poem as a reader with the Reader-response Criticism, I can directly say that this poem is about Puritanism; therefore, religion. Since Spirit seems to be more dominant in the poem, the poet’s environment is a Puritan society. I’d say this poem is not different than other religious poems because they all aim one goal: Heaven. It is the way they discuss what to do in order to go to Heav en. Flesh seems to be a sinner character whom readers should avoid. I don’t know whether it’s okay to blame a character to praise a religion or religious practice, but this kind of behavior would make me more uninterested in that religion or practice. As the verses say, †No Candle there, nor yet Torch light, / For there shall be no darksome night.† they just sound to be impressive sentences that attract people to that religion – no different than that of all religions have. To analyze this poem with the Psychoanalytic Criticism, we need to analyze the characters’ thoughts, their fears, and what they do to suppress their fears.   When we look at what Spirit says in the poem, we can understand that her core issue is fear of God; thus, she adopted the Puritan beliefs in order to go to Heaven. On the other hand, Flesh is just opposite of Spirit. She displays everything that is against fear of God. This can also be interpreted to be an avoidanc e as her defense mechanism, since she tries to avoid any religious thoughts and want to enjoy all earthly pleasures. To sum up, this essay tried to analyze the poem titled The Flesh and the Spirit by Anne Bradstreet with 5 literary criticisms. With the Marxist Criticism, we looked at the era’s economic conditions and tried to reflect Bradstreet’s colony’s world-view for the economic matters in her poem’s verses. Using the Feminist Criticism, we tried to explain how Bradstreet broke the man-dominated society and used her female characters to discuss religious matters. With New Criticism, we tried to show figures of speech and what the poem’s form means. Reader-response Criticism was used to explain what the author of this paper understood from the poem. And finally, with the Psychoanalytic Criticism, we tried to identify characters’ core issues and their defense mechanisms.

Wednesday, August 28, 2019

The Human Resource Function of a Retail Store Research Paper

The Human Resource Function of a Retail Store - Research Paper Example Human sources managers should consider training sales staff. Training is a career and development process which would improve the skills of staff with great but untapped potential (Krafft & Mantrala, 2010). They would contribute to the increase of the sales of the retail stores and counter the standards set by the new retail players in the industry. Training would also increase the overall performance of the stores and match the quality and convenience demands from the retail customers. Career and development process in the form of regular training ensures that sales staffs in the retail stores acquire the necessary skills to improve the overall quality of the retail products and services from the stores. Human resource managers should introduce flexible working arrangements in order to manage the cost of labor. Flexible working arrangements is the best way to minimize hiring extra retail staff especially for busy holidays and periods such as Christmas, Thanksgiving and Easter holidays. The new role ensures that employees do not work for long-hours without getting paid notes Krafft & Mantrala (2010). An eight-hour shift would work for a retail store to utilize the entire workforce by the end of the rotation. It is difficult to meet the labor costs during seasonal fluctuations with many staff members, but a temporary working arrangement would ensure that the store keeps selling. Customers are demanding quality and convenience from service and products. Human resource managers have a duty to employ highly visible employees who can keep track of the consumers..Employees should not only have relevant skills for the job, but also ability to keep a sane appearance and code of conduct. Customer need for convenience and quality from retail stores must be met. Again, human resources would benefit from a well-designed strategy that adapts to fair hiring practices for all retail staffs. Meeting high variation in customer demand is a challenge for human

Tuesday, August 27, 2019

Environmental Justice Essay Example | Topics and Well Written Essays - 1250 words

Environmental Justice - Essay Example These stakeholders formed the EJ work group. The EJ desired outcome was the reclamation and reuse of the Airfield site at Metlakatla Peninsula and enhance more efficient use of resources in the community. This was achieved through the cleanup of the abandoned facilities, debris and contamination left by former airfield site. The EJ work group was concerned with the impact of the site on health, food supply, and the economy in general. The group was therefore concerned with the elimination of the contamination of the site through cleanup activities. To achieve the desired outcome, some factors were considered. First, consultations and outreach was carried out by the MOU workgroup in order to involve all members in cleanup partnership (U.S. Environmental Protection Agency 2003). Local MIC residents were also hired to conduct cleanup activities. Enhanced teamwork was also considered to achieve the success of the cleanup. One of the values considered in the cleanup was cooperation in the cleanup process. The MOU workgroup encouraged cooperation and effective coordination. Another value is health and food supply concern among community members. All members were determined to improve their health and food supply for the people. Another value that the team would have considered was philanthropy. This would allow the rich people within the group to offer their resources for the cleanup exercise. One of the obstacles of the partnership was lack of full coordination across the MOU work group members. They had inadequate funding, and the environmental policies varied. These issues affected the allocation of responsibility for cleanup process (U.S. Environmental Protection Agency 2003). It was also difficult to determine what constitutes a clean site. Another obstacle that can be predicted is the impact of natural disasters and weather changes. The stakeholders involved in this EJ partnership were the West Harlem

Monday, August 26, 2019

COPORATE FINANCE Essay Example | Topics and Well Written Essays - 3500 words

COPORATE FINANCE - Essay Example This capital need not be paid back to the investors as long as the company is in existence. Thus, equity source is the least risky source of fund from the view point of borrower. At the same time, when the company makes huge profit, the profit left after meeting all obligations might be distributed among the equity shareholders, and this is the most appealing factor of equity capital. That does not mean that company has to distribute capital whenever it makes residual profit (profit left after making all other payments). The decision to distribute or not to distribute divisible profit is ultimately taken by the Board of Directors. The return to ordinary shareholders (dividend/cost to the company) is paid after meeting all payments like dividend to preference share holders and interest payments to debenture holders and other long term suppliers of funds. Financial needs are continuous for any growing firm. As the needs for expansion and diversification enhances these days. This capital can come from debt or equity. When companies can finance themselves with either debt or equity, certain questions arise. Is one better than the other' If so, should firms be financed with all debt or all equity' If the best solution is some mix of debt and equity, what is the optimal mix' It is generally understood that the optimal capital structure of a firm is the composition of debt and equity which results in the minimum cost of capital. But the determination of an optimal capital structure is not an exact science. Firms have to first analyze a number of factors such as the firm's business risk, its need for financial flexibility, shareholder wealth maximization, survival against competition, assurance of a steady source of funds, acquisition and maintenance of a good rating in the market, profitability, and growth rate before deciding upon an app ropriate capital structure. All these factors are a pointer to one important fact, that, companies will have to search for the right capital structure which enhances firm value while minimizing costs. The capital required for investment, while often scarce, can be generated from a variety of sources. How firms choose among these various sources and why, have been the source of much debate in financial literature. Many theories have been developed to show the relationship between capital structure and firm value. There are different views on how capital structure influences firm value. Some authors argue that there is no relationship between capital structure and the value of the firm, whereas others hold that financial leverage has a positive effect on firm value. There are also some who take the intermediate approach that financial leverage has a positive effect on the value of the firm that is only up to a certain point and thereafter there will be negative effect, another contention that, other things being equal, the greater the leverage, the greater the firm value. According to the net income approach when leverage varies, the cost of debt and the cost of equity remain unchanged. Therefore, the weighted average cost of capital declines as leverage increases and the value of the firm will increase. Under the net operating income approach, the overall capitalization rate remains constant for all degrees of leverage and therefore, the value of the firm will remain unchanged.

Sunday, August 25, 2019

The Contemporaty Middle East is the class The paper is the development Essay

The Contemporaty Middle East is the class The paper is the development of Israel and Palestine - Essay Example However, the wider aspect of the demarcations in monetary matters remains, to a magnanimous extent, an overt situation (Silverburg 16). For instance, during last year in the globalization context, the new tend of the debate was acknowledged between the Nobel Prize winner in monetary issues who staged for cautioning the eradication of economic borders worldwide. However, his opponents represented the opposite notion in their purported Washington consensus. Observably, with regard to the Israeli-Palestinian clash, and most notably throughout the 90’s arbitrations, the diverse positions on the merits and demerits of the monetary or economic demarcations served an overtly consummate role. Moreover, the being of the Oslo process, which was primarily, based on momentary and gradualism plans, called off the issue of the demarcations, inclusive of the monetary ones, to a later time. Additionally, this was nevertheless an oversight but more of a part and parcel of what made the Oslo process executable in the eyes of its designers, a component with ambiguity. Moreover, the Shahar committee, nominated by the Rabin’s administration in February 1993, in preparation of monetary negotiations with the Palestinians, found its recommendations on the presupposition a demarcation, inclusive of an economic one, would not possibly subsist between the sides in the course of an interim level (Silverburg 9). Thus, this presupposition, founded and motivated by political aspects and purportedly by a prospect of a lasting monetary integration, dictated most of the committee’s conclusions and led, in April 1994, to the effective affirmation of the Protocol surrounding monetary relations among the administration of the nations and the PLO, which resultantly represented the Palestinian inhabitants, better referred to as the Protocol of Paris. One of the exhilarating aspects of the Paris Protocol (PP) is its close congruence to the arrangements that the

Starting A Business Essay Example | Topics and Well Written Essays - 750 words

Starting A Business - Essay Example Another source I can take advantage of is to borrow money from friends or relatives, who have more than sufficient cash and willing to lend.1 Aside from these sources, I can also borrow from the bank and utilize available credit lines that specifically meet my needs as a start-up entrepreneur. In addition to banks, there are other lending facilities such as investment companies and private lenders from where I can borrow money.2 Should money from these sources fall short, I can also use my credit card as an alternative. However, it should be noted that resorting to these borrowing institutions or facilities for capital requirement entails the payment of interest. This means that on top of the principal amount, I will have to pay the interest or cost of borrowing. Failure to service arising obligations from my borrowings in these institutions may result to piling interest, which can surge meteorically, thus, doubling the debt amount to be repaid. Such would have adverse effects not only on the financial position of the company but also the reputation in the market. I can also present my business plan to venture capitalists, who would be willing to share the burden of the risk by providing capital for the proposed business. In considering this option, I would still have to think about the terms and conditions of the capital provision of the venture capitalist. This is because such may result in me, the business owner, having less control over the operations of the company. Some venture capitalists prefer to have direct participation in running the business.3 In addition, I can seek funding from organizations that extend grants to deserving entrepreneurs. For example, I can apply for funding assistance from American Express Small Business Assistance that supports small businesses. There are also other government agencies that can be excellent sources of grants and loans for starting a business.4 Government Agencies and Regulations to Deal with Before I can start manufacturing and selling the Chunky Corn products, I would have to apply for licenses in the Food & Drug Administration (FDA), which provides voluntary pre-marketing consultations that would help examine if the biotechnology food, in this case the corn products, meet the regulatory standards for safety.5 In dealing with the FDA, I would have to ensure that the products I would be offering to the public conform to the Federal Food, Drug and Cosmetic Act. Under this regulation, the manufacturer, Chunky Corn, Inc., is legally responsible to produce these safe products under sanitary conditions. Furthermore, since my products are made from genetically engineered corns, my application may have to undergo special review by the FDA to find out if levels of toxicants in my food products are substantially higher than present in other edible varieties of same corn species.6 In terms of labeling, the company should adhere to labeling standards such that labels accurately describe the corn products by its common name and reveal important facts associated with the claims made. The labels should also be truthful and not misleading.7 Aside from licenses on the products, I would also have to deal with other government agencies for other aspects of the business. For example, I would have to deal with the local office of the Secretary of State for

Saturday, August 24, 2019

Report in MLA Style Essay Example | Topics and Well Written Essays - 1000 words

Report in MLA Style - Essay Example And the last element is resolution when the conflict is resolved in some way. The vivid example is given in the book â€Å"The Illustrated Mum† when the protagonist dares to speak to her mother about the problem. The genre of children’s literature is rather specific since it demands to be catching and at the same time easy to read and understand. Fist of all it must be about childhood or animals. The plot is to be simple and straightforward, the author expresses a child’s point of view, as a rule the stories tend to fantasy, repetitions, has a form of pastoral idyll, represents the world from the innocent viewpoint, is didactic, tries to balance the idyllic and the didactic. Genre - a type of literature in which all the members of one genre share common characteristics (Chapleau, p.24). Nancy Anderson, associate professor in the College of Education distinguishes seven genres of children’s literature: 1. Picture books, such as board, concept, pattern and wordless books (Chapleau, p.24). They are characterized by colorful pictures that are followed by small pieces of text. It makes the reading process for children interesting and fascinating. The example here is â€Å"The sleeping house†. 2.Traditional literature: myths, fables, ballads, folk music, legends, and tales. Traditional literature is characterized by the stable description of natural events and situations that are common in the whole world. Usually, such literature doesn’t have a definite author. The example here is "Hansel and Gretel" by Ian Wallace, "The Dragons Pearl" by Julie Lawson 2) There are several stages how to get a child interested in literacy: introduce a title and let children speculate what it is about; introduce some details of the plot, encourage the students to read a book in order to see whether their suggestions were right, organize the group discussion of the book in the

Friday, August 23, 2019

Labeling Theory Essay Example | Topics and Well Written Essays - 7000 words

Labeling Theory - Essay Example This theory deals with the relationship of the individual with the society. This theory is based on the concept of 'Dramatization of Evil" which argues that an individual must look at all stages of the deviant's life from childhood to adulthood, so that the individual can understand the nature of a crime. Based on the works of Tannenbaum, Howard Becker developed the theory of labeling also known as social reaction theory. Labeling theory was outlined in his 1963 book "Outsiders: Studies in the Sociology of Deviance". Labeling theory was evolved in a period when there was widespread social and political power struggle which was developed within the world of college campus (pfohl). During this period many of the college students and faculty embraced liberal political movements and Becker harnessed this political influence and associated it with the labeling theory and its symbolic interaction theoretical background of Lemert. Becker has shaped his theory based on the prevailing social reaction approach of Lemert, symbolic interaction foundation of Cooley and Mead and the labeling influences of Tannenbaum and Lemert. Charles Cooley used the personal perception of individuals through studies of children and their imaginary friends to explain the human nature and the social order. The theoretical concept of Cooley was developed based on the idea of an imaginary sociability in which people are characterized to imagine the view of themselves through the eyes of other people living in the society. People based on such imaginary observations form judgments of themselves. "The main idea of the looking glass self is that people define themselves according to society's perception of them." Works of Mead combined with the ideas of Cooley formed the foundation for labeling theory and its approach to the acceptance of an individual of a label forced by the society. Pfohl is of the view that the work by Mead is more focused on the macro-level process of distinguishing the conventional and the condemned, rather than a micro-level approach on studying the deviant. Wright has observed that Mead describes the "perception of self as formed within the context of social process." The self is identified as the product of social symbols and interactions of the perception of the mind. Wright points out that the self exists in objective reality and is then internalized in to the conscious. "The idea of shifting the focus away from the individual deviant and looking at how social structure affects the separation of those persons considered unconventional has a great influence on how Becker approaches labeling theory." Frank Tannenbaum studied juvenile participation in street gangs for presenting his own approach to the labeling theory. Tannenbaum observed a different deviant behavior among the juvenile delinquents and conventional society. This different behavior causes the 'tagging' of juveniles as delinquent and separates them from mainstream society. This stigma of delinquency attached to the juveniles forces a person to move more towards deeper non-conformity. Even though Lamert does not recognize the influence of work of Tannenbaum in developing labeling theory, many other social reaction theories have been worked basing on the Tannenbaum's postulations. Edwin Lamert not quite comfortable with theories that take the concept of deviance for granted has diverted his focus on the social construction of deviance. Lamert has considered deviance as "the product society's reaction to an act and the affixing of a deviant label on the actor." According to Lamert it is the initial incidence of an

Thursday, August 22, 2019

Tersiary education in South Africa Essay Example for Free

Tersiary education in South Africa Essay Many young south Africans face the problem of deciding what to study after school. Tertiary education is a higher form of education that furthers a learners knowledge of a particular field. Tertiary education is also referred to as third stage, third level, higher education and post-secondary education, it is the educational level following the completion of a school education (after grade 12). tertiary education includes universities, technikons, internships and institutions that specify in skills such as FET colleges. There are also other higher education facilities such as nursing schools There are 4 main options for higher education in South Africa Universities the dictionary defines university as a high-level educational institution in which students study for degrees and academic research is done. There are many universities in south Africa, but they are often hard to be accepted into. They require students who are prepared to study long hours and and make sacrifices in return for a degree which takes a minimum of 4 years to complete Universities are mostly revloved around theory and do not include much practical work. Universities only accept students after grade 12. Benifites of university: Degrees are required for a wide range of careers such as Medicine, Education, Engineering, Accounting and Law. A university education will help establish a career. University graduates gain professional qualifications that are recognised and respected worldwide. University graduates are offered higher pay and greater financial stability. Requirement and thing to do to increas your chances of admittion For a undergraduate diploma study the student must have atleast a NSC cod of 4 (40-49%) and for a bachelors degree study, learnes must of achieved a minimun o a NSC cod 5 (50-59%) To increas chances of getting in to university: apply early, achieve high marks/ higher than NSC code 5, get strong letters of recogmendation , particxipate in extra cirriculem activity and participate in community servise. They also check your social network accounts so delete anything that may bring your character down. FET collages Further education and training collages offer vocation courses which get you ready for a particular job. FET collages focus on scarce skills and careers. They are practical but also involve theory. They provide opportunities for work experience as part of there course. Some FET courses are accepted at university, meaning you can continue to further your knowledge/degree at university, which could get you higher paid jobs. FET collages accept students from grade 9-12 and offer exciting practical courses. Advantages of FET collages: Finding jobs are more easy. Collages have links with institutions and corporal world You don’t have to pass grade 12 to be accepted Requirements and things to do to increas your chances of attening a FET collage; at least a grade 9 certificate is required . to help your chances of being accepted, apply with a grtade 12 certificate, they get first preference, get good references, show interest in community projects and sport. Apply early Technikon or university of technology Technikons offer mainly diploma and certificate courses, as well as degree courses and diploma courses usually take three years to complete. Technikons focus more on the technical study fields a practical form of training, as one third (e. g. one year) of the study period consists of on-the-job training and experience. A technikon is basically a mix between a university and a fet collage. They offer the same level of study as a university Advantages students are exposed to the world of work at an early stage high-quality work and motivation might lead to full-time employment very quickly after graduation. Requirement and thing to do to increas your chances of admittion For a  undergraduate diploma study the student must have atleast a NSC cod of 4 (40-49%) and for a bachelors degree study, learnes must of achieved a minimun o a NSC cod 5 (50-59%) To increas chances of getting in to university: apply early, achieve high marks/ higher than NSC code 5, get strong letters of recogmendation , particxipate in extra cirriculem activity and participate in community servise. They also check your social network accounts so delete anything that may bring your character down Learnerships  A learnership is a s learning process that involves on the job training, where you gain practical skills and theoretical knowledge in ajob which leads to a qualification. Learners participating in a learnership have to attend classes at a college or training centre to complete classroom-based learning, and they also have to complete on-the-job training in a workplace. The workplace experience must be relevant to the qualification. You can also get payed while doing a learnership . Some learnership programmes do not require any entry requirements while others require a Grade 12 certificate. Learniships do not usually cost anything, most are free of charge. What are the benefits of a Learnership? You will receive a nationally recognised qualification upon successful completion of the learnership proramme. You will gain work experience that will improve your chances of getting work. You gain links with the employment network, increasing your chances to find work. You can earn a promotion or be redeployed into a more satisfying job. You can progress onto a higher level learnerhship for personal growth and development. Requirements and things to do to increase your chances of admission; . A grade 12 certificate is required to join and a good letter of recogmendation also good marks will assist. Many people have the believe that university is the best option, because you get better qualifications and a degree. But it might not always be the best option of study and it might not be possible to attend a university. Many companies look for people that have work experience, which university students will not have after sitting inside lecture rooms for 4 years. Universities are also extremely expensive. They can cost a small fortuin, which the average person does not have readily available. Yes loans can be taken out but it may take years to repay and can lead to further debt due to the increase in interest rates. Its not always possible for students with a bad perfermance in grade 12 to attend universities. Universities do not accept students with extremely poor marks. To enter university a bachelors pass is required, which is a NSC with an achievement of rating 4 (adequate achievement 50-59%). FET collages and learnerships are a great option for under performers that want to improve there skills , they involve lots of practical work that can be very benifitial. At the end it all comes to the marks you got in school that effect your choice in tertiary education, those who normaly get bad marks chose learnerships and collage and those who get good marks go to univerities and techhnikons. But there might always be that surprising clever student that wants to persue something practical. The choice is yours.

Wednesday, August 21, 2019

An Inspector Calls Essay Example for Free

An Inspector Calls Essay Miss Sheila Birling, a prominent character in Priestlys play An Inspector Calls, undergoes many changes throughout the play. The audience and readers perspective towards her also alters. Sheila changes before our eyes from a little girl into a strong young woman. In the beginning, Sheila is described to us as being in her early twenties and very pleased with life. This gives us an impression that she is just a girl, who has not seen enough of the world yet and is very young in her thoughts. We see her as being very immature at first, addressing her parents as Mummy and Daddy. She is clearly a mummys girl who follows her parents instructions and orders For example, she meekly follows her mother to the drawing-room and leaves the men including her husband-to-be. Although she is engaged to Gerald Croft, Sheila places her husband-to-be on a pedestal, admiring him and calling h9im darling. She takes the engagement ring like a little girl would receive a new toy look, mummy! The way Sheila acts in the first part of the play makes her seem like someone who is soft, innocent and silly, or plain immature. After the Inspector arrives, our opinion towards her changes. After she confesses to the Inspector, Sheila breaks down. She feels very sorry for all the pain she has caused Eva Smith. The Inspector makes her feel responsible for using her wealth, importance and influence to get a truly innocent girl sacked from her last steady job. Sheila sobs and cries, like a child. However, our opinion really changes when she confronts Gerald. Sheila laughs hysterically, at the end of Act One, when she says, You fool. Of course he knows. And I hate to think what he knows that we dont know yet. This behaviour is rather like that of a teenager throwing a tantrum, showing her growing realisation and maturity. When Gerald begins to confess, Sheila shows a rebellious streak. She refuses to be led away by her parents who want her to be protected. This is like what the average adolescent would do when they wish to cross new territory. Sheila begins to control herself a little more rationally during Geralds interrogation Gerald falls off the high placing he was originally on as Sheila calls him by name rather than by some playful nickname.

Tuesday, August 20, 2019

Continuing Professional Development (CPD) in Construction

Continuing Professional Development (CPD) in Construction Abstract The following dissertation focuses on a personal development technique called Continuing Professional Development (CPD). With the world of construction constantly changing, professionals in the industry need to keep up to speed with the changing elements of the industry nationally and internationally. This dissertation assesses the CPD process that the industrys institutions provide for members and assesses how CPD is carried out. It also looks at how beneficial CPD is to the professionals who participate and the company they work for. By the end of this dissertation the role of these institutions should be easily identifiable in professional development and how participation can give working professionals a competitive edge on-site and help them progress in their careers both in and outside their existing company. This dissertation also encapsulates the opinions of some of the professional members of the industry involved in CPD. It will assess how CPD has influenced them in their career and will make recommendations on how to refine the process. Introduction This chapter explains the core elements of the study which includes a definition, hypothesis, aims and objectives, parameters of study and research methodology. Definition of Topic The definition of CPD in general is continual learning, regardless of age or seniority, which focuses on professional competency in a professional role. Its aim is to improve personal performance and enhance career progression. Over recent years the benefits of structured CPD have been identified within the construction industry. To become a chartered professional under a construction based institution(e.g. the Chartered Institute of Building(CIOB)) professionals must show they have been involved in a structured CPD process. Records must be maintained to show this before professionals may transgress. With the current economic climate, construction professionals need to keep their knowledge and skills to the optimum to ensure progression within their company and give them an advantage when looking for work elsewhere. CPD not only applies to the working professional but also to those unemployed who want to increase their chances when opportunities occur. Hypothesis CPD improves the performance and enhances the career progression of a professional in the construction industry. Aim of Dissertation The aim of this dissertation is to produce a piece of work that explains the process of CPD in relation to the construction industry. The dissertation will also assess the advantages of CPD; identify why it is important and how it can be improved. Objectives The objectives of this dissertation are to: Explain what CPD is in general and in a construction context. Identify which construction related professional institutes provide a structured CPD system for their members. Assess CPD within these institutes; compare advantages or disadvantages of each and recommend measures to improve their CPD systems effectiveness. Establish how important CPD is to each participants professional performance, development and career progression. Establish how important effective CPD is to a professionals performance and the company that employ them. Gather together the opinion of working professional in the construction industry on the benefits of CPD. Parameter of Study This study contains a general overview of CPD in terms of professionalism as a whole in any career path. It then focuses on CPD specifically in the construction industry and gives an in depth analysis of the role of professional institutes and its members who participate. It also identifies how important CPD is the construction industry today, both to the individual themselves and the company that employ them. Research Methodology There were a number of different methods of research used to complete this study including both primary and secondary research which are detailed below. Secondary Research: Books Various books were sourced both in the GMIT library and the online library of the CIOB. These books and extracts from books were used as a reference and for background information and reading. Some books covered CPD overall and others covered CPD specifically in the construction industry. Electronic Journals Official Reports Surveys Many of the reports and surveys read were carried out within the last decade in regard to the construction industry as well as CPD in other professions across the UK and in Ireland. These gave a good insight into CPD in other professions, what elements of CPD are important and in what direction CPD in construction is heading. Internet There was a mass of information available on the internet which contained both up-to-date and older material. Not all sources found were reliable, but pockets of valid information was uncovered throughout my research on the internet. Much background information was found which was helpful in getting different partys opinions on CPD and how it should be carried out. Many official websites were also useful in getting information on how CPD is provided to individuals by professional bodies both in construction and outside too. A lot of information was gathered through these sites to establish how CPD was made available to construction professionals. Primary Research: The four leading professional bodies in construction were chosen as the basis of my primary study. These include the Chartered Institute of Building(CIOB), the Society of Chartered Surveyors(SCS), Engineers Ireland(IEI) and the Royal Institute of Architects of Ireland(RIAI). All four institutes have many members from various construction backgrounds and play a major role in the development of these professionals through CPD. Information on their CPD policy and practice was gathered and semi-structured interviews were then carried out with the relevant staff members of each institute to consolidate the information collected. Interviews were also carried out with members of the different institutes to get the receivers point of view. Format of Study This thesis will be carried out using the following chapter: Introduction to CPD In Chapter 2 CPD will be looked at in relation to the entire working world. CPD can be applied to any profession but also has similarities to the personal development of an individual. With the global economy rapidly evolving, new patterns of work and learning have emerged worldwide. Massive growth in sectors like information technology(IT) means that people working in that sector need to keep up with the changes or they will be left behind. The main purpose of continuing development personally is to maximise enjoyment of work and life. Therefore we need to be continually responding to the changing world around us. â€Å"Are you living to work or working to live?†(Megginson Whitaker, 2007) Continuing Professional Development(CPD) is based around the whole concept self-motivation and self management. It all depends on how motivated the participant is to learn about the career they are undertaking and can apply to any professional in the working world. It is particularly relevant to professions such as teaching, nursing and accountancy where ongoing learning is crucial.(Megginson Whitaker 2007) â€Å"The most precious asset any professional controls is knowledge of the discipline and the skill to apply it effectively. Over the long run it is more important to maintain the value of this asset than the office, the furniture, the computer hardware, or even the bank account.†(www.riai.ie/cpd Accessed 19/02/2010) History of CPD CPD has been around in various different forms for a long time. It is only over the past 25 years that CPD has been formalised and endorsed by professional membership bodies. Its history is as follows: 1850: Professionals met up in coffee houses to discuss practice and share notes 1984: Chartered Institute of Personal Development(CIPD) created a policy statement on CPD 1986: Construction Industry Council(CIC) defined CPD 1990: UK Inter-Professional Group(UKIPG 1977) CPD Forum set-up 1995: CPD becomes a requirement for all practicing CIPD Members 1999: CIC definition of CPD most commonly cited definition 2000: Institute of Professional Development(IPD) was granted a Royal Charter 2009: Aspirations to move from input to output and outcome-driven CPD schemes(Institute of Continuing Professional Development(ICPD) What is CPD? CPD is a process completed by the majority of professionals in the working world, either consciously or unconsciously. Its main purpose is to implement a system of continued learning and development separate to what they would learn through their daily work. Two definitions of CPD are as follows: â€Å"Continuing Professional Development(CPD) is the process by which individuals take control of their own learning and development, by engaging in an on-going process of reflection and action.†(Megginson, Whitaker, 2007) â€Å"The systematic maintenance, improvement and broadening of knowledge and skills and the development of personal qualities necessary for execution of professional and technical duties throughout the individuals working life.†(Construction Industry Council, UK, 1986) CPD has many functions in the role of a professional. It ensures the professional maintains a high level of competence in their field and has the up-to-date skills and knowledge to provide a competent service to their client or employer. CPD also has a knock-on effect which encourages further development in many areas. This process empowers the individual to achieve their goals and encourages them to look at their career progression from a wider perspective. Self-motivation is a key element in this process, where the individual is the main driving force behind this new learning. It is their own responsibility to develop themselves and is not up their manager or employer. If the individual has no desire to learn CPD is a pointless process. Feedback from a CPD survey in 2008 indicates that members see two key benefits in undertaking CPD: It helps them maintain their knowledge and skills, and maintain professional and ethical standards.(PARN CPD survey 2008) Need for CPD CPD has evolved from the individuals thinking that career progression not only relates to secure job within an organisation but by the skills, knowledge and experiences obtained by the individual. CPD is also needed to ensure working professionals are providing an adequate service to their clients and employers. Services such as advice must be given so that changes to the environment associated with the decision are taken into account. This ensures the client gets the best service available for the fee paid. Soon to be professionals also need to maintain an adequate amount of CPD to progress to the next stage towards becoming chartered in most organisations. This goes a long way to fulfilling their need towards becoming a competent professional. Core Concepts of CPD How is CPD different to other types of training and development? The learner is in control-the whole CPD process is self-driven and managed where learning outcomes are directly proportionate to the time and effort participant puts into the process. They must be self- motivated, which means the participant must want to continue learning to be successful no matter what position or profession. It can apply to most aspects of life-CPD can apply to life outside work as well. For example, personal development can be achieved through implementing some of the knowledge or skills to improve family communications etc. There is a regular plan, do and evaluate process involved, which sets achievable goals and reflects on work put in which can spurs on further development. CPD can be beneficial without the support of others in their working environment. All professionals can complete CPD regardless of working situation, whether they work for a company or are self-employed and deal directly with their own clients. Of course support from employer would be more beneficial but it is not essential as interaction is mostly between the professional body and individual. Although some employers incorporate CPD into the training and development programmes of all employees. Methods of Learning through CPD CPD revolves around the whole learning process and the methods with which learning is provided is a very important part of the process. These methods ensure professionals can improve their skills and knowledge and gain relevant experience. Formal, non-formal and informal methods of learning include any process relevant to a profession that improves skills, knowledge and the experiences of a professional. CPD activities can include in-house training, open learning, conferences, seminars, workshops, structured reading, self-study, presentations and being a coach or mentor. Structured Unstructured CPD: All CPD comes under the heading of structured or unstructured CPD. Structured CPD is where the learning outcomes are identified in advance of learning. This CPD does not have to be provided or accredited by the participants institution or professional body. Structured CPD covers any educational event or programme run by a recognised educational or professional institution. Structured CPD must also be accompanied by attendance records or a certificate to prove process has been successfully completed. Unstructured CPD is an unplanned CPD activity that can be completed at any time or anywhere at the participants discretion. Activities that qualify as unstructured CPD include personal study or development, peer review and other activities such as case studies that are not part of other course requirements. Reflection on both of these CPD learning methods is crucial before CPD can be recorded. CPD methods of learning do not necessarily need to be provided by a professional body. They can be provided by an employer or other organisation which then can be accredited by the body as a worthwhile process. Constant reading of up to date reports, journals, magazines, newspapers and reviews relevant to a specific profession is probably the most common method. Reading is a very easy way of learning if the reader has an interest in the subject and puts the effort in to focus and concentrate on what they are reading. It is a very efficient method as it can be resumed over the space of a few minutes and it does not entail the use of another individuals time. Time management is a massive element in any professionals working life where they are always working to tight schedule. This means they may only have a few minutes a day to set aside for CPD of which reading is the perfect filler. Conferences and the gathering of professionals at CPD events are a fixed way of delivering CPD to practicing professionals. These may take place every few months and give attendees a chance to catch up with fellow professionals and discuss relevant issues. They may exchange ideas or opinions and can get in touch with useful contacts which may be important in the future. Seminars and lectures are also common where a leader of a profession may speak or organise a talk on issues that are changing the roles and lives of a professional or the industry they work in. Experts in the field may be asked to explain some new issue and give an opinion on what should be done. It is very important for professional bodies to hold these gatherings as it can influence and guide the way in which professionals across the world carry out there work. With resources on the internet constantly being upgraded it has now become very beneficial to CPD. Information is now much more accessible to the professional in their workplace, this method of learning is commonly known as e-learning. Readable information does not necessarily need to be sent to the professionals workplace anymore as these sources are now regularly being uploaded on professional body websites which are available 24 hours a day. This means waiting times are virtually eliminated as most magazines, reports and other such information are now available on the internet. Videos of seminars, conferences and podcasts can now be easily accessed which means information can be dispersed quickly and accurately straight to the professionals computer. This is a major time saving method as travelling times are eliminated and a much wider audience can be reached at one time. Assessments can also be uploaded onto a professional bodys website immediately after learning has taken place or can be submitted by email at any time. Records are much more easily kept when communicating through the internet; most websites make records accessible to professional membership which makes reflection a lot easier too. Professionals can be trained through workplace training which trains a small group of professionals within a company(s) on a specific topic. This method encourages participants to get more involved and can increase their understanding of the topic. A full list of CPD activities may include: Open distance learning(the internet, video packages, slide/tape packages, correspondence courses) Private study including systematic study of appropriate literature or research, or even learning a relevant language Technical and professional conferences, lectures, seminars, workshops, study tours, technical visits and short courses Courses leading to professional qualification or academic awards Writing articles for publication Teaching(for those not at teaching posts) Practice(for those in teaching posts) Preparing papers and contributing to technical meetings and study groups Examining, tutoring or mentoring(www.ciob.org.uk-Accessed 26/02/2010) Professional Bodies CPD is crucial to the success of any working professional. One crucial factor that determines the effectiveness of CPD to a professional is the professional body that provides the platform for this new learning. The majority of professional bodies, such as the CIOB, are non-profit making organisations that are established to support their professional members. They work to try and satisfy the needs of a specific group of people who work in the same field. Professional bodies simply started out as a group of professionals who got together to discuss relevant issues in their field and share ideas. There are hundreds of these bodies and institutes set up all over the world dealing in a multitude of different professions and even ordinary jobs, from secretaries to project managers. Professional organisations aim to assist and direct their members on the road to success. This is achieved by providing the tools to sharpen the professionals skills and knowledge. Being a member means you have unlimited access to all the educational resources and services needed to continue your professional development. They provide members with information, training, education, tips, advice and strategies to assist them in reaching the height of their professional career. It gives many opportunities to mingle with fellow professionals and employers in their specific field which could be of benefit when seeking career opportunities. This is one major reason why professionals join these organisations, to be recognised by the body and their codes of practice. Membership indicates to the existing or future employers that the individual is dedicated and has ambition to succeed in their profession. Professional bodies are also there to promote professionalism in their industry and help push members to achieve the standards of excellence associated with their profession. They are committed to developing and maintaining standards and policies for education within their profession and can also push for social awareness and debate. Some organisations can even influence government and industrial policy decisions.(www.nightcourses.com) CPD within Professional Bodies CPD was originally developed as part of the main objectives set out by these organisations, to educate their members. This process evolved and continual learning was identified as a pivotal part of the education process. This identifies clearly with the last three decades or so where the world of business has changed dramatically in every aspect. Professionals can no longer be content with sufficient skills and knowledge at a point in time, but have to be continually updating them to have a chance of survival. Professional bodies can now satisfy these needs through the use of CPD. The following figures from a survey carried out in the UK by the Professions Associations Research Network(PARN) show how widely CPD is used. 85% of professional bodies have CPD Policies in place 20% compulsory schemes(increased by 3% since 2003) 20% obligatory 43% voluntary 14% mixed (PARN survey for the International Accounting Education Standards Board(IAESB)) Recording Assessing CPD There are a number of different ways in which CPD can be recorded and assessed. This a crucial part of the process which is being implemented more and more. Recording what is learned is beneficial to both the participant and the body who assess them. Input based CPD is the most commonly used system where CPD is measured by recording the amount of time put into the process by the participant through the amount of hours they put in. Most professional bodies regulate the number of hours a professional needs to put in to progress within the organisation. This system is not as accurate as some other methods as the effort put in by the participant cannot be assessed. Smaller bodies tend to have more input-based CPD than the larger bodies as fewer resources are needed to run the programme compared to other systems. Input-based schemes are most commonly used in health, finance, law, business and management, with professional bodies with regulatory responsibilities currently favouring input-based schemes. Output-based CPD is another common system where the participant is assessed on what they have learned through CPD over a period of time. A regular peer review is a common method of assessment where experienced members of the profession review what has been learned. CPD can be self assessed also where participants reflect on what they have learned and how this can be applied to their daily working lives. Professional bodies may also require their members to complete an assessment or report directly after learning and send it to their body so it can be assessed and recorded. Engineering, construction and media bodies use mostly output-based schemes to assess their members progress. 66% of professional bodies measure CPD 28% input based(60% in hours/ 24% in points/ 12% other) 20% output-based(competency-based/ reflective/ peer review etc) 17% combination More measurement in other countries like Australia Canada CPD Cycle The CPD cycle is similar to most other management cycles and contains four key elements planning, action, evaluation and reflection on action. The cycle can be entered at two points, reflection on practice and action, but always ends at evaluation no matter which starting point is chosen. Reflection on practice-The CPD cycle may start at this stage if you think that you need to learn something maybe by not knowing something that you think you should know or by identifying an inadequacy when completing your day-to-day job. What needs to be learned may often be identified by looking back to any experience in your normal day-to-day work where something stands out or has gone wrong. Reflection on practice can be as simple as a personal interest which you would like to follow up. â€Å"What do I need to learn?† â€Å"How do I know thats what I need to learn?† Planning-Planning is essential to any process carried out in business. It enables the objectives and targets of the CPD to be identified before the process begins and gives people involved a better understanding. By looking back over the previous cycle the individual can work out what needs to be learned and how they can go about learning it. To plan the relevant CPD to be undertaken the participant must be able to identify gaps between current and needed competencies. Personal Development Plans(PDP) are a good way to help you think about where you would like to be professionally in the short, medium or long-term. â€Å"When do I need to learn it?† â€Å"How important is it for me to learn it?† â€Å"How exactly am I going to learn it-what are my options? Action-The CPD cycle can start at action purely by chance through unexpected learning that has occurred without previous planning. This is called ‘unscheduled learning where the individual hadnt consciously set out to learn. Action can also play a part in ‘scheduled learningwhere the process starts back at the reflection stage. Schedule learning occurs where an area for learning is uncovered and a plan is put in place before action is taken. â€Å"What have I gained from this action?† Evaluation-Evaluation is always the last stage of the CPD cycle and is one of the most important. The aim of this stage is to identify if plans set out and actions taken delivered on what they were set out to achieve and how this learning has been applied. If the objectives were achieved then a full cycle has taken place. CPD may not impact on the individuals work immediately after learning has taken place. The specific CPD cycle can be completed at a later stage when knowledge is put into use. If the process has not or has only partially delivered then the participant has to decide whether learning set out still has to happen or whether the topic lost its relevance along the way. â€Å"Did I learn what I set out to learn?† â€Å"How have I applied what I have learned?†(www.uptodate.org.uk-Accessed 19/02/2010) CPD in Construction Introduction The need for CPD is widely acknowledged in the construction industry. There are three main parties that need to co-operate fully in order to extract the most from CPD, the professional themselves, their employer and the professional body they are a member of. All three have responsibilities to uphold to carry out successful CPD which will be discussed later in the chapter. Other parties that also play a part include the government and independent CPD providers. The Individual Professional Whatever CPD is being undertaken the individual professional is central and has full control over what is learned and how much development occurs. Motivation is key in this aspect, no motivation means minimal learning and development takes place. Professionals may be self-motivated through their own drive or ambition to achieve; this can also be linked to the personality of the professional. Their working environment and the people around them can have significant affect also on a professionals motivation or will to achieve. Construction like many other industries forces the professionals working within it to constantly improve and is never at a stand still. From the day a professional graduates their skills and knowledge is gradually being out-dated and need to be improved to keep up to scratch. Most professional bodies set up a framework for their members to work from but it is the individuals own responsibility to implement this framework appropriately. This framework sets out various techniques to plan, implement, review and evaluate CPD. The Employer The employer can be very influential on how effective CPD is on the professionals they employ. The employers mind set and understanding of CPD is crucial in facilitating professionals with an adequate environment to carry out CPD. There are many benefits to the employer who invests time and money into the CPD needs of their employees which are explained below. To have the optimum effect employer must encourage their professionals to part take in CPD both at the workplace and with other CPD providers. This may be achieved by allowing professionals time off during working on an ongoing basis to complete external training courses, in-house training and other CPD events. Employers co-funding of CPD is also important to show the professional that they are being backed by their employer and that there is no financial downside on the professional by completing CPD. The employees of a good company are one of its most important assets. Supporting professionals CPD reaps many benefits for the company as a whole in the long run. Professionals become more competent in their jobs, increasing job satisfaction, and have a wider knowledge of the overall construction industry. They can also boost the knowledge and skills they have in a specific field and learn more about other areas in which they have an interest in. This may give them an extra dimension when opportunities in that area occur. Through allowing professionals to be trained and advised outside of the company, a stead stream of fresh knowledge and techniques is constantly flowing into the company. These techniques and knowledge can then be passed down to other employees and used throughout the company. CPD Costs The cost of attending seminars can be offset, by certain practices and self-employed professionals, against tax as a business expense. Professional Bodies in Construction Professional bodies are the key to the advancement of any professional in construction. Without them there would be no base for the continual learning and development of professionals outside their workplace. They provide a suitable environment and many useful resources for professionals to increase their knowledge and sharpen their skills. Each institutions definition of CPD varies to some extent and their policies tend to go in line with their interpretation of what CPD is. However the majority agree that CPD is essential. CPD was applied to the construction area in the 1980s and has become a crucial part of all professions involved in construction. The affects CPD has on a bodys members depends on how well their CPD policy is structured and how well the policy is implemented. Both are vital factors and need to be assessed before and during implementation to ensure they impact successfully on members. The core group of four professional bodies, studied later, within the construction industry are all old and established institutes, but they are the professional bodies of a large percentage of Irish professionals in the industry today. They are all well over 100 years old, whether they were established in Ireland or established in Britain and an Irish branch formed. These four institutes cater for managers, engineers, surveyors of every kind and architects in construction, but may also accept various other professionals whose work relates to construction but are not necessarily linked to construction as a whole profession, lawyers or legal professionals are a prime example. Some professionals can interlink between institutes and become a member in both if the specific area they are working in is Continuing Professional Development (CPD) in Construction Continuing Professional Development (CPD) in Construction Abstract The following dissertation focuses on a personal development technique called Continuing Professional Development (CPD). With the world of construction constantly changing, professionals in the industry need to keep up to speed with the changing elements of the industry nationally and internationally. This dissertation assesses the CPD process that the industrys institutions provide for members and assesses how CPD is carried out. It also looks at how beneficial CPD is to the professionals who participate and the company they work for. By the end of this dissertation the role of these institutions should be easily identifiable in professional development and how participation can give working professionals a competitive edge on-site and help them progress in their careers both in and outside their existing company. This dissertation also encapsulates the opinions of some of the professional members of the industry involved in CPD. It will assess how CPD has influenced them in their career and will make recommendations on how to refine the process. Introduction This chapter explains the core elements of the study which includes a definition, hypothesis, aims and objectives, parameters of study and research methodology. Definition of Topic The definition of CPD in general is continual learning, regardless of age or seniority, which focuses on professional competency in a professional role. Its aim is to improve personal performance and enhance career progression. Over recent years the benefits of structured CPD have been identified within the construction industry. To become a chartered professional under a construction based institution(e.g. the Chartered Institute of Building(CIOB)) professionals must show they have been involved in a structured CPD process. Records must be maintained to show this before professionals may transgress. With the current economic climate, construction professionals need to keep their knowledge and skills to the optimum to ensure progression within their company and give them an advantage when looking for work elsewhere. CPD not only applies to the working professional but also to those unemployed who want to increase their chances when opportunities occur. Hypothesis CPD improves the performance and enhances the career progression of a professional in the construction industry. Aim of Dissertation The aim of this dissertation is to produce a piece of work that explains the process of CPD in relation to the construction industry. The dissertation will also assess the advantages of CPD; identify why it is important and how it can be improved. Objectives The objectives of this dissertation are to: Explain what CPD is in general and in a construction context. Identify which construction related professional institutes provide a structured CPD system for their members. Assess CPD within these institutes; compare advantages or disadvantages of each and recommend measures to improve their CPD systems effectiveness. Establish how important CPD is to each participants professional performance, development and career progression. Establish how important effective CPD is to a professionals performance and the company that employ them. Gather together the opinion of working professional in the construction industry on the benefits of CPD. Parameter of Study This study contains a general overview of CPD in terms of professionalism as a whole in any career path. It then focuses on CPD specifically in the construction industry and gives an in depth analysis of the role of professional institutes and its members who participate. It also identifies how important CPD is the construction industry today, both to the individual themselves and the company that employ them. Research Methodology There were a number of different methods of research used to complete this study including both primary and secondary research which are detailed below. Secondary Research: Books Various books were sourced both in the GMIT library and the online library of the CIOB. These books and extracts from books were used as a reference and for background information and reading. Some books covered CPD overall and others covered CPD specifically in the construction industry. Electronic Journals Official Reports Surveys Many of the reports and surveys read were carried out within the last decade in regard to the construction industry as well as CPD in other professions across the UK and in Ireland. These gave a good insight into CPD in other professions, what elements of CPD are important and in what direction CPD in construction is heading. Internet There was a mass of information available on the internet which contained both up-to-date and older material. Not all sources found were reliable, but pockets of valid information was uncovered throughout my research on the internet. Much background information was found which was helpful in getting different partys opinions on CPD and how it should be carried out. Many official websites were also useful in getting information on how CPD is provided to individuals by professional bodies both in construction and outside too. A lot of information was gathered through these sites to establish how CPD was made available to construction professionals. Primary Research: The four leading professional bodies in construction were chosen as the basis of my primary study. These include the Chartered Institute of Building(CIOB), the Society of Chartered Surveyors(SCS), Engineers Ireland(IEI) and the Royal Institute of Architects of Ireland(RIAI). All four institutes have many members from various construction backgrounds and play a major role in the development of these professionals through CPD. Information on their CPD policy and practice was gathered and semi-structured interviews were then carried out with the relevant staff members of each institute to consolidate the information collected. Interviews were also carried out with members of the different institutes to get the receivers point of view. Format of Study This thesis will be carried out using the following chapter: Introduction to CPD In Chapter 2 CPD will be looked at in relation to the entire working world. CPD can be applied to any profession but also has similarities to the personal development of an individual. With the global economy rapidly evolving, new patterns of work and learning have emerged worldwide. Massive growth in sectors like information technology(IT) means that people working in that sector need to keep up with the changes or they will be left behind. The main purpose of continuing development personally is to maximise enjoyment of work and life. Therefore we need to be continually responding to the changing world around us. â€Å"Are you living to work or working to live?†(Megginson Whitaker, 2007) Continuing Professional Development(CPD) is based around the whole concept self-motivation and self management. It all depends on how motivated the participant is to learn about the career they are undertaking and can apply to any professional in the working world. It is particularly relevant to professions such as teaching, nursing and accountancy where ongoing learning is crucial.(Megginson Whitaker 2007) â€Å"The most precious asset any professional controls is knowledge of the discipline and the skill to apply it effectively. Over the long run it is more important to maintain the value of this asset than the office, the furniture, the computer hardware, or even the bank account.†(www.riai.ie/cpd Accessed 19/02/2010) History of CPD CPD has been around in various different forms for a long time. It is only over the past 25 years that CPD has been formalised and endorsed by professional membership bodies. Its history is as follows: 1850: Professionals met up in coffee houses to discuss practice and share notes 1984: Chartered Institute of Personal Development(CIPD) created a policy statement on CPD 1986: Construction Industry Council(CIC) defined CPD 1990: UK Inter-Professional Group(UKIPG 1977) CPD Forum set-up 1995: CPD becomes a requirement for all practicing CIPD Members 1999: CIC definition of CPD most commonly cited definition 2000: Institute of Professional Development(IPD) was granted a Royal Charter 2009: Aspirations to move from input to output and outcome-driven CPD schemes(Institute of Continuing Professional Development(ICPD) What is CPD? CPD is a process completed by the majority of professionals in the working world, either consciously or unconsciously. Its main purpose is to implement a system of continued learning and development separate to what they would learn through their daily work. Two definitions of CPD are as follows: â€Å"Continuing Professional Development(CPD) is the process by which individuals take control of their own learning and development, by engaging in an on-going process of reflection and action.†(Megginson, Whitaker, 2007) â€Å"The systematic maintenance, improvement and broadening of knowledge and skills and the development of personal qualities necessary for execution of professional and technical duties throughout the individuals working life.†(Construction Industry Council, UK, 1986) CPD has many functions in the role of a professional. It ensures the professional maintains a high level of competence in their field and has the up-to-date skills and knowledge to provide a competent service to their client or employer. CPD also has a knock-on effect which encourages further development in many areas. This process empowers the individual to achieve their goals and encourages them to look at their career progression from a wider perspective. Self-motivation is a key element in this process, where the individual is the main driving force behind this new learning. It is their own responsibility to develop themselves and is not up their manager or employer. If the individual has no desire to learn CPD is a pointless process. Feedback from a CPD survey in 2008 indicates that members see two key benefits in undertaking CPD: It helps them maintain their knowledge and skills, and maintain professional and ethical standards.(PARN CPD survey 2008) Need for CPD CPD has evolved from the individuals thinking that career progression not only relates to secure job within an organisation but by the skills, knowledge and experiences obtained by the individual. CPD is also needed to ensure working professionals are providing an adequate service to their clients and employers. Services such as advice must be given so that changes to the environment associated with the decision are taken into account. This ensures the client gets the best service available for the fee paid. Soon to be professionals also need to maintain an adequate amount of CPD to progress to the next stage towards becoming chartered in most organisations. This goes a long way to fulfilling their need towards becoming a competent professional. Core Concepts of CPD How is CPD different to other types of training and development? The learner is in control-the whole CPD process is self-driven and managed where learning outcomes are directly proportionate to the time and effort participant puts into the process. They must be self- motivated, which means the participant must want to continue learning to be successful no matter what position or profession. It can apply to most aspects of life-CPD can apply to life outside work as well. For example, personal development can be achieved through implementing some of the knowledge or skills to improve family communications etc. There is a regular plan, do and evaluate process involved, which sets achievable goals and reflects on work put in which can spurs on further development. CPD can be beneficial without the support of others in their working environment. All professionals can complete CPD regardless of working situation, whether they work for a company or are self-employed and deal directly with their own clients. Of course support from employer would be more beneficial but it is not essential as interaction is mostly between the professional body and individual. Although some employers incorporate CPD into the training and development programmes of all employees. Methods of Learning through CPD CPD revolves around the whole learning process and the methods with which learning is provided is a very important part of the process. These methods ensure professionals can improve their skills and knowledge and gain relevant experience. Formal, non-formal and informal methods of learning include any process relevant to a profession that improves skills, knowledge and the experiences of a professional. CPD activities can include in-house training, open learning, conferences, seminars, workshops, structured reading, self-study, presentations and being a coach or mentor. Structured Unstructured CPD: All CPD comes under the heading of structured or unstructured CPD. Structured CPD is where the learning outcomes are identified in advance of learning. This CPD does not have to be provided or accredited by the participants institution or professional body. Structured CPD covers any educational event or programme run by a recognised educational or professional institution. Structured CPD must also be accompanied by attendance records or a certificate to prove process has been successfully completed. Unstructured CPD is an unplanned CPD activity that can be completed at any time or anywhere at the participants discretion. Activities that qualify as unstructured CPD include personal study or development, peer review and other activities such as case studies that are not part of other course requirements. Reflection on both of these CPD learning methods is crucial before CPD can be recorded. CPD methods of learning do not necessarily need to be provided by a professional body. They can be provided by an employer or other organisation which then can be accredited by the body as a worthwhile process. Constant reading of up to date reports, journals, magazines, newspapers and reviews relevant to a specific profession is probably the most common method. Reading is a very easy way of learning if the reader has an interest in the subject and puts the effort in to focus and concentrate on what they are reading. It is a very efficient method as it can be resumed over the space of a few minutes and it does not entail the use of another individuals time. Time management is a massive element in any professionals working life where they are always working to tight schedule. This means they may only have a few minutes a day to set aside for CPD of which reading is the perfect filler. Conferences and the gathering of professionals at CPD events are a fixed way of delivering CPD to practicing professionals. These may take place every few months and give attendees a chance to catch up with fellow professionals and discuss relevant issues. They may exchange ideas or opinions and can get in touch with useful contacts which may be important in the future. Seminars and lectures are also common where a leader of a profession may speak or organise a talk on issues that are changing the roles and lives of a professional or the industry they work in. Experts in the field may be asked to explain some new issue and give an opinion on what should be done. It is very important for professional bodies to hold these gatherings as it can influence and guide the way in which professionals across the world carry out there work. With resources on the internet constantly being upgraded it has now become very beneficial to CPD. Information is now much more accessible to the professional in their workplace, this method of learning is commonly known as e-learning. Readable information does not necessarily need to be sent to the professionals workplace anymore as these sources are now regularly being uploaded on professional body websites which are available 24 hours a day. This means waiting times are virtually eliminated as most magazines, reports and other such information are now available on the internet. Videos of seminars, conferences and podcasts can now be easily accessed which means information can be dispersed quickly and accurately straight to the professionals computer. This is a major time saving method as travelling times are eliminated and a much wider audience can be reached at one time. Assessments can also be uploaded onto a professional bodys website immediately after learning has taken place or can be submitted by email at any time. Records are much more easily kept when communicating through the internet; most websites make records accessible to professional membership which makes reflection a lot easier too. Professionals can be trained through workplace training which trains a small group of professionals within a company(s) on a specific topic. This method encourages participants to get more involved and can increase their understanding of the topic. A full list of CPD activities may include: Open distance learning(the internet, video packages, slide/tape packages, correspondence courses) Private study including systematic study of appropriate literature or research, or even learning a relevant language Technical and professional conferences, lectures, seminars, workshops, study tours, technical visits and short courses Courses leading to professional qualification or academic awards Writing articles for publication Teaching(for those not at teaching posts) Practice(for those in teaching posts) Preparing papers and contributing to technical meetings and study groups Examining, tutoring or mentoring(www.ciob.org.uk-Accessed 26/02/2010) Professional Bodies CPD is crucial to the success of any working professional. One crucial factor that determines the effectiveness of CPD to a professional is the professional body that provides the platform for this new learning. The majority of professional bodies, such as the CIOB, are non-profit making organisations that are established to support their professional members. They work to try and satisfy the needs of a specific group of people who work in the same field. Professional bodies simply started out as a group of professionals who got together to discuss relevant issues in their field and share ideas. There are hundreds of these bodies and institutes set up all over the world dealing in a multitude of different professions and even ordinary jobs, from secretaries to project managers. Professional organisations aim to assist and direct their members on the road to success. This is achieved by providing the tools to sharpen the professionals skills and knowledge. Being a member means you have unlimited access to all the educational resources and services needed to continue your professional development. They provide members with information, training, education, tips, advice and strategies to assist them in reaching the height of their professional career. It gives many opportunities to mingle with fellow professionals and employers in their specific field which could be of benefit when seeking career opportunities. This is one major reason why professionals join these organisations, to be recognised by the body and their codes of practice. Membership indicates to the existing or future employers that the individual is dedicated and has ambition to succeed in their profession. Professional bodies are also there to promote professionalism in their industry and help push members to achieve the standards of excellence associated with their profession. They are committed to developing and maintaining standards and policies for education within their profession and can also push for social awareness and debate. Some organisations can even influence government and industrial policy decisions.(www.nightcourses.com) CPD within Professional Bodies CPD was originally developed as part of the main objectives set out by these organisations, to educate their members. This process evolved and continual learning was identified as a pivotal part of the education process. This identifies clearly with the last three decades or so where the world of business has changed dramatically in every aspect. Professionals can no longer be content with sufficient skills and knowledge at a point in time, but have to be continually updating them to have a chance of survival. Professional bodies can now satisfy these needs through the use of CPD. The following figures from a survey carried out in the UK by the Professions Associations Research Network(PARN) show how widely CPD is used. 85% of professional bodies have CPD Policies in place 20% compulsory schemes(increased by 3% since 2003) 20% obligatory 43% voluntary 14% mixed (PARN survey for the International Accounting Education Standards Board(IAESB)) Recording Assessing CPD There are a number of different ways in which CPD can be recorded and assessed. This a crucial part of the process which is being implemented more and more. Recording what is learned is beneficial to both the participant and the body who assess them. Input based CPD is the most commonly used system where CPD is measured by recording the amount of time put into the process by the participant through the amount of hours they put in. Most professional bodies regulate the number of hours a professional needs to put in to progress within the organisation. This system is not as accurate as some other methods as the effort put in by the participant cannot be assessed. Smaller bodies tend to have more input-based CPD than the larger bodies as fewer resources are needed to run the programme compared to other systems. Input-based schemes are most commonly used in health, finance, law, business and management, with professional bodies with regulatory responsibilities currently favouring input-based schemes. Output-based CPD is another common system where the participant is assessed on what they have learned through CPD over a period of time. A regular peer review is a common method of assessment where experienced members of the profession review what has been learned. CPD can be self assessed also where participants reflect on what they have learned and how this can be applied to their daily working lives. Professional bodies may also require their members to complete an assessment or report directly after learning and send it to their body so it can be assessed and recorded. Engineering, construction and media bodies use mostly output-based schemes to assess their members progress. 66% of professional bodies measure CPD 28% input based(60% in hours/ 24% in points/ 12% other) 20% output-based(competency-based/ reflective/ peer review etc) 17% combination More measurement in other countries like Australia Canada CPD Cycle The CPD cycle is similar to most other management cycles and contains four key elements planning, action, evaluation and reflection on action. The cycle can be entered at two points, reflection on practice and action, but always ends at evaluation no matter which starting point is chosen. Reflection on practice-The CPD cycle may start at this stage if you think that you need to learn something maybe by not knowing something that you think you should know or by identifying an inadequacy when completing your day-to-day job. What needs to be learned may often be identified by looking back to any experience in your normal day-to-day work where something stands out or has gone wrong. Reflection on practice can be as simple as a personal interest which you would like to follow up. â€Å"What do I need to learn?† â€Å"How do I know thats what I need to learn?† Planning-Planning is essential to any process carried out in business. It enables the objectives and targets of the CPD to be identified before the process begins and gives people involved a better understanding. By looking back over the previous cycle the individual can work out what needs to be learned and how they can go about learning it. To plan the relevant CPD to be undertaken the participant must be able to identify gaps between current and needed competencies. Personal Development Plans(PDP) are a good way to help you think about where you would like to be professionally in the short, medium or long-term. â€Å"When do I need to learn it?† â€Å"How important is it for me to learn it?† â€Å"How exactly am I going to learn it-what are my options? Action-The CPD cycle can start at action purely by chance through unexpected learning that has occurred without previous planning. This is called ‘unscheduled learning where the individual hadnt consciously set out to learn. Action can also play a part in ‘scheduled learningwhere the process starts back at the reflection stage. Schedule learning occurs where an area for learning is uncovered and a plan is put in place before action is taken. â€Å"What have I gained from this action?† Evaluation-Evaluation is always the last stage of the CPD cycle and is one of the most important. The aim of this stage is to identify if plans set out and actions taken delivered on what they were set out to achieve and how this learning has been applied. If the objectives were achieved then a full cycle has taken place. CPD may not impact on the individuals work immediately after learning has taken place. The specific CPD cycle can be completed at a later stage when knowledge is put into use. If the process has not or has only partially delivered then the participant has to decide whether learning set out still has to happen or whether the topic lost its relevance along the way. â€Å"Did I learn what I set out to learn?† â€Å"How have I applied what I have learned?†(www.uptodate.org.uk-Accessed 19/02/2010) CPD in Construction Introduction The need for CPD is widely acknowledged in the construction industry. There are three main parties that need to co-operate fully in order to extract the most from CPD, the professional themselves, their employer and the professional body they are a member of. All three have responsibilities to uphold to carry out successful CPD which will be discussed later in the chapter. Other parties that also play a part include the government and independent CPD providers. The Individual Professional Whatever CPD is being undertaken the individual professional is central and has full control over what is learned and how much development occurs. Motivation is key in this aspect, no motivation means minimal learning and development takes place. Professionals may be self-motivated through their own drive or ambition to achieve; this can also be linked to the personality of the professional. Their working environment and the people around them can have significant affect also on a professionals motivation or will to achieve. Construction like many other industries forces the professionals working within it to constantly improve and is never at a stand still. From the day a professional graduates their skills and knowledge is gradually being out-dated and need to be improved to keep up to scratch. Most professional bodies set up a framework for their members to work from but it is the individuals own responsibility to implement this framework appropriately. This framework sets out various techniques to plan, implement, review and evaluate CPD. The Employer The employer can be very influential on how effective CPD is on the professionals they employ. The employers mind set and understanding of CPD is crucial in facilitating professionals with an adequate environment to carry out CPD. There are many benefits to the employer who invests time and money into the CPD needs of their employees which are explained below. To have the optimum effect employer must encourage their professionals to part take in CPD both at the workplace and with other CPD providers. This may be achieved by allowing professionals time off during working on an ongoing basis to complete external training courses, in-house training and other CPD events. Employers co-funding of CPD is also important to show the professional that they are being backed by their employer and that there is no financial downside on the professional by completing CPD. The employees of a good company are one of its most important assets. Supporting professionals CPD reaps many benefits for the company as a whole in the long run. Professionals become more competent in their jobs, increasing job satisfaction, and have a wider knowledge of the overall construction industry. They can also boost the knowledge and skills they have in a specific field and learn more about other areas in which they have an interest in. This may give them an extra dimension when opportunities in that area occur. Through allowing professionals to be trained and advised outside of the company, a stead stream of fresh knowledge and techniques is constantly flowing into the company. These techniques and knowledge can then be passed down to other employees and used throughout the company. CPD Costs The cost of attending seminars can be offset, by certain practices and self-employed professionals, against tax as a business expense. Professional Bodies in Construction Professional bodies are the key to the advancement of any professional in construction. Without them there would be no base for the continual learning and development of professionals outside their workplace. They provide a suitable environment and many useful resources for professionals to increase their knowledge and sharpen their skills. Each institutions definition of CPD varies to some extent and their policies tend to go in line with their interpretation of what CPD is. However the majority agree that CPD is essential. CPD was applied to the construction area in the 1980s and has become a crucial part of all professions involved in construction. The affects CPD has on a bodys members depends on how well their CPD policy is structured and how well the policy is implemented. Both are vital factors and need to be assessed before and during implementation to ensure they impact successfully on members. The core group of four professional bodies, studied later, within the construction industry are all old and established institutes, but they are the professional bodies of a large percentage of Irish professionals in the industry today. They are all well over 100 years old, whether they were established in Ireland or established in Britain and an Irish branch formed. These four institutes cater for managers, engineers, surveyors of every kind and architects in construction, but may also accept various other professionals whose work relates to construction but are not necessarily linked to construction as a whole profession, lawyers or legal professionals are a prime example. Some professionals can interlink between institutes and become a member in both if the specific area they are working in is