Examining Government Regulations

The current government regulations I researched pertain to the clinical guidelines and the civil rights of persons living with HIV/AIDS in Portland, Oregon. Many people living with HIV/AIDS, at some point during their illness, find themselves in need of housing assistance and support services. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some, a return to paid employment and productive social activities. As the number of people living with HIV/AIDS continues to grow in both urban and rural areas throughout the United States, stakeholders must find new ways to address their needs to promote the health and well-being of these individuals and their families. Increasingly, maximizing the resources available to people who need them requires partnering across mainstream housing and human services systems to ensure continuity of care, program efficiency, and that there is â€Å"no wrong door† to assistance for clients at risk. The United States Department of Health and Human Services recommended public health law reform as part of its Healthy People 2010 initiative. Public health law in many states is ripe for reform. Oregon state legislature has suggested that existing state statutes are ineffective in responding to contemporary health threats for many reasons. These statutes pre-date modern scientific and constitutional developments and lack adequate standards of privacy, due process, and risk assessment. Forty percent of Oregonians with HIV need housing assistance, and a survey of Oregon service agency representatives cited the lack of affordable housing as the number-one barrier to stability for Oregonians living with HIV/AIDS. Critical issues were identified and recommendations developed to improve the ability of these systems to cooperatively meet the housing and services needs of people living with HIV/AIDS in Oregon. The obstacles that would prevent me from meeting the needs of people living with HIV/AIDS are 1. Limited Awareness of Resources Dedicated to People Living with HIV/AIDS Many potential housing and services partners lack awareness or accurate knowledge of existing resources dedicated to, or which can be used to serve, people living with HIV/AIDS, and that lack of awareness may limit partnerships. 2. Confidentiality Concerns The need to maintain client confidentiality restricts the ways that OHOP housing coordinators and other organizations and individuals can publicize their activities and resources. . Limited Staff Capacity and Knowledge HIV Care and Treatment staff may lack familiarity with aspects of partner systems, including affordable housing, and have limited resources and time to conduct marketing and outreach to potential partners and planning bodies. Discrimination adds to the daily struggles faced by the growing number of people living with HIV/AIDS in the United States – people who are predominantly poor and disproportionately African American or Latino. Every agency’s biggest problems facing their clients involve meeting basic needs – coping with poverty, hunger, illiteracy, inadequate medical care, lack of transportation, and homelessness. In addition to those basic needs issues, people with HIV face a series of critical civil rights problems. Individuals living with HIV/AIDS need to know their rights and need the resources to advocate for themselves when their rights are threatened. They also need national legal organizations like the ACLU AIDS Project to enforce their civil rights and civil liberties through litigation, public education and legislative advocacy. Recommendations: †¢ Develop simple, discreet material to publicize OHOP and related services and opportunities, and distribute it widely. †¢ Present to current and potential partners, including faith-based and community-based grass roots organizations with information tailored to their interests. †¢ Engage provider agency staff, clients, and other regional participants in publicizing the need, opportunity, and benefits of investing in housing and services for people living with HIV/AIDS. †¢ Focus attention on improving coordination with planning, data, and other elements of homeless systems. †¢ Promote Shelter Care and other bonus projects through agreements to streamline or share sponsor administrative costs. †¢ Conduct outreach and seek partnerships with landlords and property managers. Oregon Housing and Opportunities in Partnership (OHOP) Program Many people living with HIV/AIDS find themselves in need of housing assistance and support services at so me point during their illness. As many as 60 percent of all persons living with HIV/AIDS report a lifetime experience of homelessness or housing instability. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some people living with HIV/AIDS, a return to paid employment and productive social activities. The federal Housing Opportunities for Persons with AIDS (HOPWA) program provides funding, distributed by both formula and competition, dedicated to the housing needs of people living with HIV/AIDS and their families. This funding is not only necessary but critical to have the needs of people living with HIV/AIDS met adequately. Examining Government Regulations The current government regulations I researched pertain to the clinical guidelines and the civil rights of persons living with HIV/AIDS in Portland, Oregon. Many people living with HIV/AIDS, at some point during their illness, find themselves in need of housing assistance and support services. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some, a return to paid employment and productive social activities. As the number of people living with HIV/AIDS continues to grow in both urban and rural areas throughout the United States, stakeholders must find new ways to address their needs to promote the health and well-being of these individuals and their families. Increasingly, maximizing the resources available to people who need them requires partnering across mainstream housing and human services systems to ensure continuity of care, program efficiency, and that there is â€Å"no wrong door† to assistance for clients at risk. The United States Department of Health and Human Services recommended public health law reform as part of its Healthy People 2010 initiative. Public health law in many states is ripe for reform. Oregon state legislature has suggested that existing state statutes are ineffective in responding to contemporary health threats for many reasons. These statutes pre-date modern scientific and constitutional developments and lack adequate standards of privacy, due process, and risk assessment. Forty percent of Oregonians with HIV need housing assistance, and a survey of Oregon service agency representatives cited the lack of affordable housing as the number-one barrier to stability for Oregonians living with HIV/AIDS. Critical issues were identified and recommendations developed to improve the ability of these systems to cooperatively meet the housing and services needs of people living with HIV/AIDS in Oregon. The obstacles that would prevent me from meeting the needs of people living with HIV/AIDS are 1. Limited Awareness of Resources Dedicated to People Living with HIV/AIDS Many potential housing and services partners lack awareness or accurate knowledge of existing resources dedicated to, or which can be used to serve, people living with HIV/AIDS, and that lack of awareness may limit partnerships. 2. Confidentiality Concerns The need to maintain client confidentiality restricts the ways that OHOP housing coordinators and other organizations and individuals can publicize their activities and resources. . Limited Staff Capacity and Knowledge HIV Care and Treatment staff may lack familiarity with aspects of partner systems, including affordable housing, and have limited resources and time to conduct marketing and outreach to potential partners and planning bodies. Discrimination adds to the daily struggles faced by the growing number of people living with HIV/AIDS in the United States – people who are predominantly poor and disproportionately African American or Latino. Every agency’s biggest problems facing their clients involve meeting basic needs – coping with poverty, hunger, illiteracy, inadequate medical care, lack of transportation, and homelessness. In addition to those basic needs issues, people with HIV face a series of critical civil rights problems. Individuals living with HIV/AIDS need to know their rights and need the resources to advocate for themselves when their rights are threatened. They also need national legal organizations like the ACLU AIDS Project to enforce their civil rights and civil liberties through litigation, public education and legislative advocacy. Recommendations: †¢ Develop simple, discreet material to publicize OHOP and related services and opportunities, and distribute it widely. †¢ Present to current and potential partners, including faith-based and community-based grass roots organizations with information tailored to their interests. †¢ Engage provider agency staff, clients, and other regional participants in publicizing the need, opportunity, and benefits of investing in housing and services for people living with HIV/AIDS. †¢ Focus attention on improving coordination with planning, data, and other elements of homeless systems. †¢ Promote Shelter Care and other bonus projects through agreements to streamline or share sponsor administrative costs. †¢ Conduct outreach and seek partnerships with landlords and property managers. Oregon Housing and Opportunities in Partnership (OHOP) Program Many people living with HIV/AIDS find themselves in need of housing assistance and support services at so me point during their illness. As many as 60 percent of all persons living with HIV/AIDS report a lifetime experience of homelessness or housing instability. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some people living with HIV/AIDS, a return to paid employment and productive social activities. The federal Housing Opportunities for Persons with AIDS (HOPWA) program provides funding, distributed by both formula and competition, dedicated to the housing needs of people living with HIV/AIDS and their families. This funding is not only necessary but critical to have the needs of people living with HIV/AIDS met adequately.

Carrie Chapter Twenty

Q. You deny you had prior knowledge of Carrie White's whereabouts? A. Of course I do. It's an absurd idea. Q. Oh? And why is it absurd? A. Well, if you're suggesting some kind of conspiracy, it's absurd because Carrie was dying when I found her. It could not have been an easy way to die. Q. If you had no prior knowledge of her whereabouts, how could you go directly to her location? A. Oh, you stupid man! Have you listened to anything that's been said here? Everybody knew it was Carrie! Anyone could have found her if they had put their minds to it. Q. But not just anyone found her. You did. Can you tell us why people did not show up from all over, like iron filings drawn to a magnet? A. She was weakening rapidly. I think that perhaps the †¦ the zone of her influence was shrinking. Q. I think you will agree that that is a relatively uninformed supposition. A. Of course it is. On the subject of Carrie White, we're all relatively uninformed. Q. Have it your way, Miss Snell. Now if we could turn to †¦ At first, when she climbed up the enbankment between Henry Drain's meadow and the parking lot of The Cavalier, she thought Carrie was dead. Her figure was halfway across the parking lot, and she looked oddly shrunken and crumpled. Sue was reminded of dead animals she had seen on 495 – woodchucks, groundhogs, skunks – that had been crushed by speeding trucks and station wagons. But the presence was still in her mind, vibrating stubbornly, repeating the call letters of Carrie White's personality over and over. An essence of Carrie, a gestalt. Muted now, not strident, not announcing itself with a clarion, but waxing and waning in steady oscillations. Unconscious. Sue climbed over the guard rail that bordered the parking lot, feeling the heat of the fire against her face. The Cavalier was a wooden frame building, and it was burning briskly. The charred remains of a car were limned in flame to the right of the back door. Carrie had done that. She did not go to look and see if anyone had been in it. It didn't matter, not now. She walked over to where Carrie lay on her side, unable to hear her own footsteps under the hungry crackle of the fire. She looked down at the curled-up figure with a bemused and bitter pity. The knife hilt protruded cruelly from her shoulder, and she was lying in a small pool of blood – some of it was trickling from her mouth. She looked as if she had been trying to turn herself over when unconsciousness had taken her. Able to start fires, pull down electric cables, able to kill almost by thought alone; lying here unable to turn herself over. Sue knelt, took her by one arm and the unhurt shoulder, and gently turned her on to her back. Carrie moaned thickly, and her eyes fluttered. The perception of her in Sue's mind sharpened, as if a mental picture was coming into focus. (who's there) And Sue, without thought, spoke in the same fashion: (me sue snell) Only there was no need to think of her name. The thought of herself as herself was neither words nor pictures. The realization suddenly brought everything up close, made it real, and compassion for Carrie broke through the dullness of her shock. And Carrie with faraway, dumb reproach: (you tricked me you all tricked me) (carrie i don't even know what happened is tommy) (you tricked me that happened trick trick trick o dirty trick) The mixture of image and emotion was staggering, indescribable. Blood. Sadness. Fear. The latest dirty trick in a long series of dirty tricks: they flashed by in a dizzying shuffle that made Sue's mind reel helplessly, hopelessly. They shared the awful totality of perfect knowledge. (carrie don't don't don't hurts me) Now girls throwing sanitary napkins, chanting, laughing, Sue's face mirrored in her own mind: ugly, caricatured all mouth, cruelly beautiful. (see the dirty tricks see my whole life one long dirty trick) (look carrie look inside me) And Carrie looked. The sensation was terrifying. Her mind and nervous system had become a library. Someone in desperate need ran through her, fingers trailing lightly over shelves of books, lifting some out, scanning them, putting them back, letting some fall, leaving the pages to flutter wildly (glimpses that's me as a kid hate him daddy o mommy wide lips o teeth bobby pushed me o my knee car want to ride in the car we're going to see aunt cecily mommy come quick i made pee) in the wind of memory; and still on and on, finally reaching a shelf marked TOMMY, subheaded PROM. Books thrown open, flashes of experience, marginal notations in all the hiergglyphs of emotion, more complex than the Rosetta Stone. Looking. Finding more than Sue herself had suspected-love for Tommy, jealousy, selfishness, a need to subjugate him to her will on the matter of taking Carrie, disgust for Carrie herself, (she could take better care of herself she does look just like a GODDAM TOAD) hate for Miss Desjardin, hate for herself. But no ill will for Carrie personally, no plan to get her in front of everyone and undo her. The feverish feeling of being raped in her most secret corridors began to fade. She felt Carrie puffing back, weak and exhausted. (why didn't you just leave me alone) (carrie i) (momma would be alive i killed my momma i want her o it hurts my chest my shoulder o o o i want my momma) (carrie i) And there was no way to finish that thought, nothing there to complete it with. Sue was suddenly overwhelmed with terror, the worse because she could put no name to it: The bleeding freak on this oil-stained asphalt suddenly seemed meaningless and awful in its pain and dying. (o momma i'm scared momma MOMMA) Sue tried to pull away, to disengage her mind, to allow Carrie at least the privacy of her dying, and was unable to. She felt that she was dying herself and did not want to see this preview of her own eventual end. (carrie let me GO) (Momma Momma Momma oooooooooooo 0000000) The mental scream reached a flaring, unbelievable crescendo and then suddenly faded. For a moment Sue felt as if she were watching a candle flame disappear down a long, black tunnel at a tremendous speed. (she's dying o my god i'm feeling her die) And then the fight was gone, and the last conscious thought had been (momma i'm sorry where) and it broke up and Sue was tuned in only on the blank, idiot frequency of the physical nerve endings that would take hours to die. She stumbled away from it, holding her arms out in front of her like a blind woman, toward the edge of the parking lot. She tripped over the knee-high guard rail and tumbled down the embankment. She got to her feet and stumbled into the field, which was filling with mystic white pockets of ground mist. Crickets chirruped mindlessly and a whippoorwill (whippoorwill somebody's dying) called in the great stillness of morning. She began to run, breathing deep in her chest, running from Tommy, from the fires and explosions, from Carrie, but mostly from the final horror-that last lighted thought carried swiftly down into the black tunnel of eternity, followed by the blank, idiot hum of prosaic electricity. The after-image began to fade reluctantly, leaving a blessed, cooling darkness in her mind that knew nothing. She slowed, halted, and became aware that something had begun to happen. She stood in the middle of the great and misty field. waiting for realization. Her rapid breathing slowed, slowed, caught suddenly as if on a thorn And suddenly vented itself in one howling, cheated scream. As she felt the slow course of dark menstrual blood down her thighs.

Lama Surya Das and the American Dharma

Buddhism is gaining popularity and acceptance with the American public. This could be credited to the immigrants to the USA wherein some of them brought with them their culture and religion and influenced the Americans to follow them. According to Lama Surya Das, there are many factors that influenced the acceptance of Buddhism in the western countries and this acceptance lead to a unique American Buddhism. His article â€Å"Ten Emerging Trends of Western Dharma† details the characteristics of the American Buddhism that sets its identity and tells how and why Buddhism was accepted by the American community.According to Das, American Buddhism is unique since it is meditation-based such that understanding of life and personal growth is attained. It is made it more accessible to the masses and gender equality is promoted. Some of the ways of the traditional Buddhism are also omitted to make it simpler and other meditation practices are accepted to make it more appealing. Spiritua l development is also focused to promote good psychological and emotional welfare. Exploring beyond the doctrines of Buddhism is also promoted to allow independence and self development.Spiritual communities are also encouraged to strengthen the links with each other and to develop a sense of moral and social obligation. These premises can depict the American Buddhism as different from other forms of Buddhism. This difference could then be attributed to the fact that the Americans have a different cultural background and environment such that they accepted and did only those components of Buddhism that fits them. However, Das’ premises contain some vague ideas that are insufficient to say that there is a unique American Buddhism.Some forms of Buddhism are also meditation-based, some also observe gender equality, some are also focused on the spiritual development of a person and some are also promoting spiritual communities to inculcate a sense of moral and social obligation. Omission of a component and focusing on other components doesn’t always mean that it is already a new thing. It is still patterned from the original and the difference was just due to the attitude of the people accepting it.It’s like in the revival of a classic song into a different genre, the song could have a slightly different tune or tempo, but that doesn’t make the song a new song. It was just revived and remodeled to fit the preference of the listening public. Nevertheless, Das stressed that those are just trends he observed and the existence of a genuine American Buddhism has a long way to go. But still, if his trends would be more unambiguous, it is possible that a new form of Buddhism could really take form in America.It is important to note that the acceptance of Buddhism in America is slow. This could be attributed to the fact that America is largely a Christian country, with teachings different from that of Buddhism. However, if Das’ trends ar e accurate, such that American Buddhism is non-sectarian and is open to anyone, it is possible that the American public’s reaction could shift and accept it for the meditation and the other benefits. It is most likely to happen nowadays since American life is a very busy and stressful life.If the practices of the American Buddhism could fit in with the lifestyle of the Americans, more people could be influenced to follow its teachings and practices. It will then be a few steps closer to achieving a genuine American Buddhism. Nonetheless, if the openness of the American Buddhism to other traditions and Das’ argument about Buddhism being not a religion would be pointed out, it will appear that American Buddhism would not materialize as a different religion. This means that the American Dharma would just look like a program or routine that will fit in the lifestyle of the Americans.This is because the people who would practice the Dharma would not need to convert themselv es and retain their former religion. They would follow the Dharma just for the meditation and the enlightenment it brings. This would then make it very appealing to the American Public and make it recruit more followers since it would easily fit in their lives. To sum it all up, I can say that genuine American Buddhism still has a long away to reality. But still, the efforts those people who brought Buddhism to America will not be a waste, and they would be able to harvest the fruit of their labors.

Video games Essay Example | Topics and Well Written Essays - 2500 words

Video games - Essay Example Video games are the most prevalent form of entertainment among children as many of them spent most of their free time in front of computers and large screens indulging in these games for hours on end without even a break (Price). The widespread coverage of the internet and personal computers all over the world in the modern day information technology age enables children to easily access, play and even share video games with their peers in other places through the online gaming cyber space. The pervasiveness of video games and video gaming as the preferred form of entertainment for children and young adults all over the world has been a major cause of concern over the possible impacts of this phenomenon on the behavior of children in the long term; precisely, the perceived adverse effects of video games on the behavior of children have raised numerous concerns over this novel invention of the present day century. Sociological studies have been concerned with the effects of media violence on behavior from the 1950s onwards and a particular focus of these studies has been on video games since the 1980s given the ubiquity of this phenomenon among the American children, especially boys (Carey, 2013). The debate regarding the impact of video gaming on children has been highly polarized with two antagonistic arguments dominating the discourse; one school of thought holds that video gaming does not result to any significant effects on the behavior of participants. Contrariwise, the opposing school of thought refutes this perspective by insisting that video games often result to significant effects on the behavior of participants; this perspective draws evidence from a vast body of research from empirical studies conducted by developmental and social psychologists on the effects of video games on behavior. This essay will contribute to the ongoing debate by examining

Literature Review Essay Example | Topics and Well Written Essays - 500 words - 4

Literature Review - Essay Example Its symptoms include palpitations, shortness of breath, fatigue, and dizziness. Other symptoms of AF include poor exercise intolerance, generalized weakness, and irregular pulse (Cottrell, 2011). It can also result in death. Despite this, over 90% of the victims of AF maybe not show any symptoms (Cottrell, 2011). The risk factors of AF include degeneration heart disease and atherosclerosis. Obesity, hypertension as well as metabolic syndrome and diabetes that are associated with cardiovascular disease are also the risk factors for AF (Cottrell, 2011 and Campbell-Cole & Lee, 2014). Apart from the structural complications of the heart, causes of AF may also be as a result of the thoracic surgery as well as coronary artery bypass grafts. Complications of AF include stroke, heart failure, and in severe can lead to death (Campbell-Cole & Lee, 2014). AF is often diagnosed by an irregular pulse. However, this is often confirmed by ECG (Elliott, 2014). Use of ECG helps one to identify acute changes and co-existing cardiac abnormalities like left-ventricular hypertrophy (Elliott, 2014). Management of this disorder includes considering patients with AF for anticoagulation. However, anticoagulation may also increase the risk of serious bleeding, and as a result of this, patients need to be informed about AF and treatment options (Elliott, 2014). According to Roberts and his colleagues (2015), warfarin therapy is crucial for prevention of systematic embolism as well as stroke associated with AF. It also aids in the prevention of venous thromboembolism. The decision for use of warfarin in stroke prevention is based on the CHADS2 score; 1 point for congestive heart failure, age above 75 years, hypertension and diabetes mellitus, and 2 points for transient ischaemic attack (Roberts et al., 2015). Patients using warfarin should be cared t hrough approaches such as usual care by the GP, patient self-monitoring, and laboratory care program. As a

A Study of Performances Improvement on IT Project Management Workers Dissertation

A Study of Performances Improvement on IT Project Management Workers ..A Case Study of China's C Information Technologies Co - Dissertation Example Moreover, Maslow’s motivational theory is used in understanding the motivation for improved performance within C Information Technologies Ltd. More importantly, the evaluation and discussion of factors affecting the performance of individuals and the strategies used by companies to improve performance are analysed and discussed within the paper. Introduction and Background The human resource function of contemporary organizations has revealed an increased focus on performance management for IT employees. Wikina (2008, p. 19) explains that this is attributed to the increased competitiveness within various markets and the changes in work activities which emanate from the advancement of information and communication technology. Performance management involves employee evaluation within the IT department which acts as a guideline for the needs of employees for skills, knowledge and abilities that will allow them to improve their productivity and performance at the work place (Gheo rghe & Hack, 2007, p. 17). China is a very competitive and rapidly growing economy especially within the IT sector. In addition, companies operating in China have experienced tremendous changes in the recent past which are related to the changing business environment and the demand for IT expertise. It is because of these challenges that most organizations and companies within China have demonstrated an increased regard for performance improvement for IT staff through employee development and training. This paper presents a report on the investigation on performance improvement among IT project management workers within C Information Technologies Ltd. The Chinese company acts as a case study for this investigation which is aimed at achieving a deeper understanding of the process of performance management as it is applicable within this company. More specifically, the study will achieve an analysis and evaluation of the characteristics of the company’s IT staff such as skills and attitudes towards work. This analysis will be conjugated with a study on the various factors which affect the performance of the C Information Technologies Ltd.’s IT staff with a view of determining the need for improvement. Furthermore the paper explores past literature on the topic to analyse and discuss the factors affecting performance management and the best strategies of improving the performance of the IT project workers within the IT industry. More significantly though is the fact that this study applies scientific methodology approach in meeting the following research questions and objectives. Objectives of the Study 1. To explore upon the theoretical framework on incentives and motivation of IT project staff which contributes to improved performance 2. To find out the important factors which affect job performance of IT project staff 3. To determine the most effective techniques and strategies in performance management which will improve the performance of IT pr oject staff within C Information Technologies Ltd. Research Questions 1. What are the performance characteristics of IT project staff within C Information Technologies Ltd? 2. What theoretical framework describes the motivations and incentives behind the level of performance among the c C Information Tec

Truth Essay Example | Topics and Well Written Essays - 1250 words

Truth - Essay Example However, diverse the topic of truth, a measure of its boundaries and applications is imperative but logically unattainable. Knowledge in philosophy denotes justified true belief. In trying to explain epistemology, philosophers developed different ideologies. The use of perception in relation to sense data to determine knowledge and, therefore, truth has yielded a lot of debate. For instance, direct realism holds that, the world consists of mind independent physical objects. Through perception, an individual is directly aware of the independent objects. Then comes the science that states, what we perceive as an object is but a reflection of light. Scientists justify their claim beyond a reasonable doubt, in which case the absence of light is equal to the inability to see the object. Perception is, however, not dependent on one sense for humans have an abundance of five. For instance, in the dark one can still hear when he bumps into the object, feel its texture and approximate its siz e (touch), taste the surface and take in its scent (smell). Indirect realism tries to distinguish objects that are physically real and objects perceived by the mind. Indirect realists achieve this by assuming that humans are indirectly aware of mind independent objects. Study of the human mind has revealed that there are states in which the mind cannot distinguish true perceptions from false perceptions. Such states include illusions, dreams and other phenomena such as hallucinations which are real to minds as if they were in normal states. These states, therefore, disclaim the validity of both direct and indirect realism. This, in summary, dictates that the minds interpretation of the light ergo the object and in extension truth is as far as the individual mind perceives. Idealism holds that all physical objects are nothing more than just a collection of sensory ideas. In light of this, idealist can contradictorily say that 1) we are perceptually aware of actual physical things, bu t 2) all experiences are experiences of mental representations. Justification and belief are not enough to make a premise true as mentioned earlier. This insufficiency results in the Gettier problem. Philosophers try to solve this problem for instance, some theorists suggest redefining reliability. Nonetheless, the state of the mind controls the senses in which case truth still relies on an individual’s perception, however, fallible. What then are universal truths? Are all human minds playing a universal trick? Truth is the relation between a thing, state of affairs and their supporting evidence. The statement made is as a result of thought and judgment which require logical constructs to determine, in which case appeal to logos is eminent. Many intellectuals see Correspondence theory as dependent on conforms of external reality, ergo, metaphysics. To justify a preposition P as there has to exist a balanced equation between the components of preposition A and intellect. The b alance of this equation does not restrict to objects and facts hence can apply to feelings, emotion, and people just but a few. Correspondence theory can describe two approaches of truth namely object based and fact based. Object-based correspondence summarizes judgment (in relation to an object) as true only if associate predicates correspond to the object. Noted, two accounts in regard to predicate associations are pertinent a) forming a reference relation and b) forming a correspondence relation. In summary, believes hold true if corresponding facts remain valid and false when corresponding facts are void. The correspondence theory to a considerable extent is a defense for metaphysical realism. However, all knowledge has a foundation in which

Operations Management Principles and Tools Essay

Operations Management Principles and Tools - Essay Example 5). I think our company would benefit from a systematic enhancement to the communication of policy and procedures, similar to the tools implemented by other organizations, which would save time for managers and ensure compliance with corporate directives. As a good model for operations management ("OM") success, I have looked at several companies and decided to use FedEx as an example of one company that has successfully implemented OM tools. "FedEx provides access to a growingglobal marketplace through a network ofsupply chain, transportation, business and related information services" (FedEx, 2006, p. 1), and is very dependent upon efficiently operating its world-wide services. Located in Memphis, Tennessee, the organization is known as the industry leader in fast package delivery for individuals and businesses. Its management and delivery of information data to its various departmental leaders is a key source of profitability, as it enhances efficiency and policy compliance. My sources for researching this information are included in the References section of this report. I selected Robert Lowson's book on Operations Management to provide me with general information, relied on the FedEx website to give me specific company information, as well as the website of Quadralay's WebWorks product information for specific quotes and insight from Joe Lakey, the Senior Technical Writer for FedEx. The primary OM initiative for FedEx that I consider applicable to my company is their electronic provision of operations manuals and policies. As the WebWorks article, using the corporation's slogan, points out, "to 'absolutely, positively' guarantee the on-time delivery of nearly three million packages...managers rely on the business operations manuals located on their corporate intranet (Quadralay, 2006, p. 1). In this OM initiative, FedEx has determined that their Ground Operations Station Managers need instant access to the manuals that govern corporate procedures and operational directives. The benefits already being reaped by FedEx are numerous. They operate within a fiercely competitive environment, and the backbone of their success lies in two areas; the ability to have efficient operational guidelines to prescribe procedures, and the communication of those instructions to line managers. In this case, the Quadralay article points out that "[t]he documentation supports the highly efficient, high-speed operations of FedEx's largest division and North America's largest provider of overnight package delivery services" (2006, p. 1). For FedEx, the key words are "highly efficient" and "high-speed." This is a company whose business depends on speed, and whose competitive advantage hinges on efficiency. Through the successful implementation of the OM information system, the organization reaps the benefit of both. As Mr. Lakey notes, the managers of the company's stations are very busy people, and they "don't have time to spend digging through information to find what they n eed. So anything we can do to save them time and make their job easier is extremely helpful" (Quadralay, 2006, p. 1). Thus, this single OM initiative of providing operational manuals via the company's intranet is seen as a key part of the organization's

Introduction to Supply Chain Management Research Paper

Introduction to Supply Chain Management - Research Paper Example Dell has accomplished to turn into one of the mainstream victorious computer corporations in the human race, by highlighting as well as making straight its strategies with the plan of its management supply chain. The ground-breaking ideas of its inventor, Dell, and their effectual execution have transformed Dell into the mainly quoted exemplar of the Supply Chain scientific society. As a result, the concern in examining Dell’s SC policies is important, as it is anticipated to emphasize more universal and pioneering problems of SCM. Although numerous exploration works have investigated Dell’s strategies of supply chain, the majority of the implemented advances fall into the groups of strategic as well as hypothetical, theoretical outlook of the topic. Moreover, the production world is â€Å"hungry† for illustrations along with practical, sensible recommendation for policies as well as operations. Therefore, there appears to be a number of gaps between academic world and the commerce world regarding the handling of the topic of Supply Chain Management. Our goal is to seal this gap by giving an evaluation of a lower degree, therefore, employ knowledge-oriented methods to evaluate and shape Dell’s trade as well as Supply Chain policies. After investigating these strategies, we will create a business progression representation (BPM) for Dell that is planned, business-goal-centered as well as implementable. To create the BPM be implementable we will develop a workflow foundation for BPM model and computation of the total implementation duration and expenditure. Thus, the key aim of our effort is to gain knowledge of Dell’s strategies of supply chain. The minor aims comprise: i) the creation of Dell’s BPM model that demonstrates its strategies of SC, ii) the formation of a workflow foundation for BPM model that is production situation responsive, and iii) the reproduction of the urbanized

Sexual harassment in the workplace Research Paper

Sexual harassment in the workplace - Research Paper Example This is a crucial topic to discuss since women have made significant progress towards achieving respect and equality at the work place, but there are some challenges that face their efforts. Sexual Harassment in the Workplace Introduction For many years, women’s rights have been under threat, whether it is within the family set up or any other place outside the family set up. In many countries, the civil society organizations are in the forefront fighting for women equality in all spheres of life. However, equality have failed to prevail in various areas whereby women face lack protection from violence, political, economic, and personal security, and also lack of full access to sexual and reproductive health. It is worth mentioning that women have come out in large numbers to join the workforce around the world (Kaushik, 2003). Discussion The need to be financially independent is a significant contributing factor to these advancements in women life. The increased number of wom en in the workplace is marked with increased vulnerability of women to acts of sexual harassment. This form of women mistreatment is said to be the oldest and most widely spread form of women harassment. In addition, it affects lives of all women irrespective of their culture, age, religion, income, race or class. Experts point out that sexual harassment is a tool that men use to portray their dominance on women since they are considered to be the weaker gender. The most affected women in the society are those focused on fighting the patriarchal system (Shahira & Widad, 2009). Sexual harassment being about power puts women in an inferior position. There are women who respond to acts of sexual harassment in extremely strict manner, but the largest number of women continues to suffer in silence. Those who persevere with acts of sexual harassment do so due to fear of stigma, hostility, ridicule, and discrimination. At the work place, the management must ensure that women are protected from acts of sexual harassment as well as handling such cases in a free and fair manner when they arise. However, due regard is not paid to such cases, which aggravates the issue of sexual harassment in such organizations (Cobb-Clark, 2009). Over a long period of time, many countries have failed to recognize the issue of sexual harassment as a key violation of human rights. This has caused the lack of clear rules and methods to deal with cases of sexual harassment. However, countries such as India have made tremendous progress in combating offences on sexual harassment. In India, the Supreme Court recognizes acts of sexual harassment as unacceptable acts, which cannot be condoned at work places. The increased number of women at workplaces and the closeness between men and women calls for clear guidelines on how to deal sexual harassment in all countries (Shahira & Widad, 2009). Women are known to be excellent in whatever they do. Going by this fact, providing a safe work environment for women implies that their productivity at the workplace will be optimum. Therefore, any organization that is to excel in its operations should take advantage of its women work force. Study based evidence indicates that, in work places where women are in authority, there are less cases of sexual harassments towards women. This observation implies that main perpetrators of acts of sexual harassment are men in authority. This gives men in such positions a lot advantages since the affected women fear

Education the New Form of Segregation Assignment

Education the New Form of Segregation - Assignment Example The assignment "Education the New Form of Segregation" analyzes the article "A Future Segregated By Science? The Opinion Pages" by M.C. Blow. Blow in his article suggests that there is a new emerging parameter under which the American society is being divided based on science and STEM-based education and employment.The author directs our attention to the development and progress of historical injustices such as economic disenfranchisement of the African Americans. The article presents irrefutable facts such as the chronology of the growth of the STEM jobs in the coming decade. The projection of the growth of STEM jobs is more impending than non-STEM jobs. The main strength of the article is the statistical evidence. Blow systematically explored the data presented from credible institutions such as the national math and science initiative and the USA today. He assesses the admission and interest that black and monitories have in STEM-related courses and subjects. The research in the a rticle shows that the black population receives about 7% of all STEM-related bachelor’s degrees and even lower number of these professions gets hired. About 6% blacks and other minorities such as Hispanics hold STEM jobs in most of the prestigious companies and leading institutions. The weakness in the article is that the argument of the author fails to offer a solution on how best to improve on diversity in the workplace. Blow compares gainful employment to access the achievements of the black race and other minorities.

Effective Performance Appraisal Essay Example for Free

Effective Performance Appraisal Essay In spite of this fact, however, there are some elements which are common to all effective performance appraisal systems, regardless of the actual method(s) used in the system. These elements will be discussed shortly. However, before examining these common links, a brief overview of performance appraisal as it is currently practised in American organisations is in order. Current Trends in Performance Appraisal As previously noted, controversy over the best performance appraisal system continues. The dilemma was highlighted in the 19 May 1980 issue of Business Week where the editors concluded that managers want a system that will pinpoint specific marginal behaviour that should be reinforced or discontinued, serve as a personnel development tool, provide a realistic assess ­ ment of an employees potential for advancement, and — a particularly hot issue in the 1980s — stand up in court as a valid defence in discrimination suits. Has the search for a best system affected what companies actually do in performance appraisal? A study conducted by Taylor and Zawacki[2] in 1981 set out to answer this question y sending a mail questionnaire to 200 firms located throughout the United States — these companies were selected at random from the Fortune 1000. Eighty-four (42 per cent) were returned and used in the study. The size of respondent firms ranged from less than 1,000 employees (nine), 1,000-5,000 employees (63), and more than 5,000 employees (12). Non-respondent firms did not vary significantly in terms of size. This study, which duplicated a previous one conducted in 1976, asked what kind of performance appraisal system was used for management and blue-collar employees. It also asked for the interval between ratings, productivity and employee reaction to the appraisal system, anticipated changes and respondent satisfaction to the present system. While it is not possible to go into all the detailed findings of this study, some of the most pertinent information is summarised below. ? While in 1976 43 per cent of the respondent firms had used a traditional performance appraisal system (e. g. , forced distribution) and 57 per cent had used a collaborative system (e. g. , MBO), in 1981 these figures had changed to 53 per cent and 47 per cent respectively. In other words, the proportion of companies using a traditional approach to performance appraisal had increased while the proportion of those using a collaborative approach had decreased. Several respondents provided written comments stating that they had changed to quantitative (i. e. traditional) systems in recent years in reaction to legal challenges to their previous collaborative system. In 1981, 39 of the 41 organisations using a traditional system used a graphic rating scale. Of the collaborative forms, 23 firms used MBO and 11 used a BARS system. The percentage of firms not satisfied with their current appraisal system increased from only nine per cent in 1976 to 47 per cent in 1981. In addition, those with collaborative systems were more likely to be satisfied, while the majority of firms with traditional systems expressed dissatisfaction. As far as the effect of the type of system used on employee attitudes went, 37 per cent of the ? IMDS January/February 1988 13 ? companies using a traditional approach felt that it had improved employee attitudes while 63 per cent felt it had not. Of those companies using a collaborative approach, 77 per cent felt it had improved employee attitudes and 23 per cent felt it had not. ? Of the 22 firms indicating that they anticipated changing their performance appraisal system in the near future, 12 were moving from a collaborative system to a traditional system. This is especially interesting in light of the fact that, in the 1976 study, the majority of firms indicating that they were considering a change said that the move would be from a traditional to a collaborative approach. While the 1981 study did not delve into the reasons behind this shift in attitude, Taylor and Zawacki conjectured that it was due to governmental and legal pressures for precise (i. e. , quantitative) measures which overwhelmed a desire to help people develop and grow towards becoming more effective employees. Of the firms surveyed, 49 per cent felt that their performance appraisal system had improved employee performance (roughly the same proportion found in 1976). However, the number of firms that did not believe employee performance had improved as a result of the appraisal process had gone from four per cent in 1976 to 19 per cent in 1981 — and none of these firms anticipated changing their system! (5) The appraiser should be given feedback regarding his/her effectiveness in the performance appraisal process. (6) The performance appraisal system, regardless of the methodology employed, must comply with legal requirements (notably, Equal Employment Opportunities guidelines). Since the factors listed above are consistently highlighted in the literature as essential elements of an effective performance appraisal system, each of them warrants individual attention. Performance Goals Must Be Clearly and Specifically Defined Special emphasis should be placed on this phase of performance appraisal, since the lack of specifically defined performance goals will undoubtedly undermine the effectiveness of the entire performance appraisal process. The key performance areas need to be identified, assigned priorities and stated in quantifiable terms whenever possible. The mutual goal-setting process between a manager and subordinate associated with Management by Objectives is a particularly beneficial way to foster acceptance and internal motivation on the part of the employee[3]. As is often the case, if multiple goals are established, they should be ranked so that the employee has a clear understanding of which areas may warrant more attention and resources than others. Furthermore, every attempt should be made to describe performance goals in terms of their time, quality, quantity, and monetary dimensions. This will reduce the opportunity for misinterpretation about what is to be accomplished and what limitations there are. The quantification of goals will also make it easier for the manager and the employee to measure the employees progress towards achieving the objectives. The need for quantifying objectives is succinctly summed up by George Ordione: If you cant count it, measure it, or describe it, you probably dont know what you want and can often forget it as a goal. There is still too much, do your best, or Ill let you know when its right, going around in todays organisations. If you cant define the desired type and level of performance in detail, then you have no right to expect your subordinate to achieve it. [4] ? To summarise, it would appear that while most firms wish to use a collaborative form of performance appraisal, they feel thwarted by outside forces (notably Equal Employment Opportunities requirements) in their attempts to implement such a system within their organisations. The dilemma, then, is finding a workable solution which will meet both constraints. The remainder of this article will take a look at these two seemingly conflicting areas (effectiveness vs. efensiveness) and how they can be integrated into a meaningful performance appraisal system. Elements of an Effective Performance Appraisal System While various authors use different names and modified descriptions for them, the following factors seem to be universally accepted by most authorities on the subjects as requisites for an effective performance appraisal system: (1) Performan ce goals must be specifically and clearly defined. (2) Attention must be paid to identifying, in specific and measurable terms, what constitutes the varying levels of performance. 3) To be effective, performance appraisal programmes should tie personal rewards to organisational performance. (4) The supervisor and employee should jointly identify ways to improve the employees performance, and then establish a development plan to help the employee achieve his/her goals. The Varying Levels of Performance While setting performance goals is a crucial first step in the process, managers also need to concentrate more attention on identifying what constitutes the varying levels of performance. If the organisation uses the typical poor, fair, good, very good and excellent scale of performance, the manager has a responsibility to identify at the beginning what levels of performance will produce a very good or excellent rating. However, setting specific goals for organisational performance is not enough — managers also need to relate performance to the individuals rewards. Agreeing on what is to be accomplished and what varying levels of performance represent in terms of evaluation and rewards is crucial for the performance appraisal process to be effective[5]. Since the first two steps of this process (i. e. , defining performance goals and setting performance standards) IMDS January/February 1988 14 are closely connected, an example of how these steps might be achieved is warranted. A prerequisite for setting performance goals is to establish job tasks. To measure performance realistically, objectively and productively, we must base our reviews on job content rather that job constructs. Constructs are broad, often self-evident terms which describe a general task, activity or requirement. Richards refers to them as garbage words in terms of their usefulness as performance standards). An example might be communication skills. While few would argue the need for skills in communication for many employees, the problem is how to define the term in light of the requirements of the specific job in question. Will the employee be required to: ? ? ? ? ? ? ? ? ? ? ? ? Write memos? Write letters? Conduct interviews? Deliver public speeches? Present pr oposals to clients? Describe features and benefits of a product? Resolve face-to-face conflicts? Handle customer complaints? Write job descriptions? Describe and define job standards? Manage meetings? Present ideas to top management? Initiative: Resourceful in taking necessary or appropriate action on own responsibility. Unsatisfactory Poor A routine Often waits unnecessarily worker; usually for direction. waits to be told what to do, requiring constant direction. Satisfactory Good Excellent Seeks and gets added tasks for self; highly selfreliant. Assumes responsibility. Does regular Resourceful; work without alert to waiting for opportunities directions. or Follows improvement directions with of work. little follow-up Volunteers suggestions. Table I. drinks per bottle, etc. In turn, these indicators should be broken down into measurable standards, as shown in Table II. As shown, when identifying what constitutes the varying levels of performance, we need to decide what we can expect in terms of outstanding performance, what is satisfactory and what is the minimum level of perfo rmance we can tolerate. One could argue that these are subjective determinations, and this is of course true. What is important, however, is that once these determinations have been made, performance can be measured objectively against the standard. It is important to keep in mind that standards should be set based on what we require or need in the performance of a job and not on our assessment of a specific individuals ability to do the job. Unless we specify the behaviour we want in the context of job content requirements, it will be near impossible objectively to measure someones performance under the generic construct of communication. We must determine the sort of communicating the job requires of the employee. Some organisations attempt to aid supervisors by providing rating scales which are anchored to descriptions of performance (i. e. , the BARS approach), such as the one shown in Table I. While this type of scale is certainly a vast improvement over those that offer no anchors (rating descriptions) at all, we could still argue over the ratings. The standards are subjective and unmeasurable, both undesirable traits in any performance appraisal system. To overcome these problems, the job should be broken down into responsibilities, with a series of performance indicators provided for each responsibility. In turn, these indicators should be accompanied by objective and measurable performance standards. An example will help illustrate the process. A bartenders job can be broken down into several responsibilities, including mixing drinks, cost control, inventory control, house keeping, safety, law enforcement, supervision, customer relations, etc. In turn, each of these responsibility areas can be broken down into several performance indicators. For example, performance indicators of the job responsibility mixing drinks might include complaints, returns, brands used, appearance, speed, number of Personal Rewards and Organisational Performance To be truly effective, performance appraisal programmes should tie personal rewards to organisational performance. Too many reward systems are based on time on the job, are divided evenly among employees, or offer too little incentive to increase motivation significantly. As noted by Harper[3], performance appraisal systems need to be designed with the three Es of motivation in mind. The first E refers to the exchange theory, which states that people tend to contribute to the organisations objectives as long as they believe they will be rewarded. The second E refers to the equity theory, which states that motivation is tied to the relative, rather than the absolute, size of the reward. For example, if person A does 25 per cent better than person B, but gets only five per cent more in a merit increase, then person A is likely to feel that management has actually punished him or her for doing noticeably better than person B. The third E is the expectancy theory of motivation, which asserts that motivation is a combination of the persons perceived probability (expectancy) of receiving a reward and the worth of the reward. Even when the reward is great, motivation may in fact be quite low if the employee does not believe that he or she has a reasonable chance of achieving the necessary level of performance to get the reward. Conversely, if the employee believes that the probability of receiving the reward is high, there will be little motivation if he or she does not need or value the reward. IMDS January/February 1988 15 Job: Bartender Job responsibilities Mix drinks, etc. Indicators Complaints Returns Measurements used (recipe) Brands used Appearance Time No. of drinks per bottle, etc. feedback to managers about the quality of their performance appraisal ratings would seem to have several advantages: ? ? It is relatively inexpensive and easy to develop and implement. The feedback is based on ratings made by each manager as part of the formal performance appraisal process. This enables the feedback to be tailored to the individual. The feedback can provide managers with a basis upon which to compare their ratings with those made by other managers. This normative type of feedback is rarely available to managers; as a result, there is very little information upon which they can evaluate how lenient or strict they are. A feedback system should help to ensure comparability of ratings among managers, which in turn may increase employee satisfaction with the appraisal process. That is, employees are more likely to perceive that their performance has been evaluated equitably since managers are using the same standards when evaluating performance. ? Job: Bartender Standards Job responsibilities Mix drinks Indicators Minimum Complaints 4/week Satisfactory 2/week Outstanding 0 ? Table II. In summary, then, for a performance appraisal programme to be successful in this area, it must: (1) Tie rewards to performance (2) Offer a high enough level of reward (3) Have the level of reward reflect the relative differences in the various levels of performance (4) Tailor the rewards to the needs and desires of individual employees. Development Plans Ideally, the performance appraisal programme should be comprised of two separate sessions between the manager and the employee. In the first session the manager and employee review the level of performance from the previous period — what went well, what did not, and why. This session also identifies the employees strengths as well as the areas that need to be improved. The manager then encourages the employee to prepare a development plan to be discussed at the second meeting. The development plan is intended to identify areas that should be improved upon during the coming period. The subordinate should be encouraged to: (1) Concentrate on those areas that will affect results (2) Select three or four particular areas for improvement rather than an unrealistic and unmanageable number (3) Set improvement goals that are specific and measurable[6]. Whatever the end result happens to be, the employee needs to be the principal author (although the manager should offer help and suggestions) since people tend to be more motivated to accept and implement a plan of their own making. IMDS January/February 1988 16 Indications of the usefulness of such a feedback system were documented in a study by Davis and Mount[7] in which managers were provided feedback vis a vis the ratings they gave to employees. In response to a questionnaire distributed one week after they had received feedback regarding the quality of their performance ratings, 79 per cent of the managers indicated they were either satisfied (seven per cent) or very satisfied (72 per cent) with the feedback; 93 per cent said they considered it when making subsequent performance evaluations; 70 per cent said it influenced their ratings either appreciably (47 per cent) or substantially (23 per cent), and 79 per cent said the feedback had utility for making managers ratings more comparable. The test results from this study indicated that the feedback also significantly reduced the presence of leniency error (the tendency to skew the rating distribution towards the higher rating categories) in the managers ratings. This is significant from an organisational perspective because of the multiple uses of performance ratings in organisations. Often, performance ratings are the criterion on which selection tests are validated and often provide the basis on which merit pay increases are determined. According to Davis and Mount, improving the psychometric quality of the ratings may enable the tests to be validated more effectively and provide a more equitable method for distributing pay increases — an important consideration, as previously discussed. Conforming to Guidelines Obviously, in addition to the other factors which have already been discussed, another practical consideration which must be taken into account is that any performance appraisal system, regardless of the methods employed, must comply with all Equal Employment Opportunity guidelines. While a complete discussion of this important area is beyond the scope Feedback Regarding Effectiveness It is surprising how infrequently organisations provide their managers with information about their performance appraisal ratings. However, providing of this article, the Uniform Guidelines on Employee Selection Procedures, put together by the Equal Employment Opportunity Commission (EEOC) and several other agencies in 1978, deserve special mention. These procedures were meant to clarify the exact requirements which appraisal and other selection systems must meet, and include the following points: (1) To continue using an appraisal system that has adversely affected one or more protected groups, the company must demonstrate that the system is valid, that it is job related, and that it accurately measures significant aspects of job performance. (2) The company must establish that there is no other available method of achieving the same necessary business purpose that would be less discriminatory in its effects, and none can be developed. According to the courts, the plaintiff (employee), rather than the defendant (company) must show the availability of the alternatives. The EEOC has told employers what they cannot do, but it has not provided them with definitive guidelines for solving the performance appraisal puzzle. However, some help in this regard was provided in the Autumn, 1980 issue of EEO Today[8]. (1) Base your appraisal on a comprehensive job analysis. EEOC guidelines dictate that you measure job performance against specific, clearly defined standards of performance. The performance you appraise, says the EEOC, must represent major critical work behaviours as revealed by a careful job analysis. Without a clear, written statement of job responsibilities, you increase your risk of EEO liability. (7) Submit the appraisal to several reviewers, especially if it is negative. To prevent conscious or unconscious bias from creeping into the appraisal process, develop a multilevel review system. Have your superior review and sign the appraisal. This system of checks and balances will reduce the risk of losing a court action. Final Comment As can be seen from the foregoing discussion, an effective performance appraisal system involves much more than a mere annual or biennial evaluation of an employees past performance. Nonetheless, astute managers are becoming increasingly aware of the value of their human resources, viewing them as an investment rather than merely an expense or overhead to be minimised. Accordingly, many organisations are taking the time and effort necessary to develop an effective performance appraisal system in order to help their people achieve their personal goals, which in turn allows the organisation to meet its own objectives[9]. Unfortunately, many managers still object that they just do not have the time to make performance review and development an ongoing process. However, if management is defined as the ability to get things done through people, and if we accept the fact that an effective performance evaluation process helps in getting the most important and productive things accomplished, then what else should managers spend their time doing? References 1. Fletcher, C. , Whats New in Performance Appraisal? , Personnel Management, February 1984, pp. 20-2. 2. Taylor, R. L. and Zawacki, R. A. Trends in Performance Appraisal: Guidelines for Managers, Personnel Administrator, March 1984, pp. 71-80. (2) Know the details of your companys 3. Harper, S. C. , A Development Approach to Performance nondiscriminatory policies. You and every other Appraisal, Business Horizons, September-October 1983, pp. manager in the company should aim for the 68-74. uniform application of all appraisal guidelines. 4. Mellenhoff, H ow to Measure Work by Professionals, Management Review, November 1977, pp. 39-43. (3) Avoid subjective criteria. According to the Albemarle Paper Co. v. Moody decision, subjective 5. Richards, R. C. , How to Design an Objective PerformanceEvaluation System, Training, March 1984, pp. 38-43. supervisory appraisals of job performance are 6. Kellogg, M. S. , What to do About Performance Appraisal, inherently suspect if they produce adverse impact American Management Association, New York, 1975. against a protected group. To stand up to the 7. Davis, B. L. and Mount, M. K. , Design and Use of a scrutiny of the courts, these judgements must Performance Appraisal Feedback System, Personnel be considered fair and job-related. Administrator, March 1984, pp. 1-7. 8. Block, J. R. , Performance Appraisal on the Job: Making it (4) Document! Keep records. That is the only way Work, Prentice-Hall, Inc. , Englewood Cliffs, New Jersey, 1981. you can support whatever subjective judge ­ 9. Butler, R. J. and Yorks, L. , A New Appraisal System as ments creep into the appraisal process. (They Organizational Change: GEs Task Force Approach, are inevitabl e. ) Personnel, January-February 1984, pp. 31-42. (5) Aim for a group of appraisers who have common demographic characteristics with the group being appraised. This criterion was established in Rowe v. General Motors. When only white males appraise blacks, Hispanics, women and other protected groups, the courts question the fairness of the. system. Once a system is challenged and shown to have adverse impact, the company must prove its validity. (6) Never directly or indirectly imply that race, colour, religion, sex, age, national origin, handicap, or veteran status was a factor in your appraisal decision. Making any disciminatory statement, orally or in writing, will make your organisation subject to court action. Additional Reading Kaye, B. L. and Krantz, S. , Preparing Employees: The Missing Link in Performance Appraisal Training, Personnel, May-June 1982, pp. 23-9. Performance Appraisal: Curre. Practices and Techniques, Personnel, May-June 1984, pp. 5799. Heneman, R. L. and Wexley, K. W. , The Effects of Time Delay in Rating and Amount of Information Observed on Performance Rating Accuracy, Academy of Management Journal, December 1983, pp. 677-86. The Trouble with Performance Appraisal, Training, April 1984, pp. 91-2. Gehrman, D B. , Beyond Todays Compensation and Performance Appraisal Systems, Personnel Administrator, March 1984, pp. 21-33. IMDS January/February 1988 17

Problems And Prospects Of Venture Capital

Problems And Prospects Of Venture Capital Venture capital is a type of private equity which provides funding for businesses which are newly started with high potential growth. Venture capital is very important to countries; this is because it creates job opportunities, advance technology, which in turn increases economic growth of the country. (Mason, C. Pierrakis, Y. 2009) What distinguishes between venture capital and private equity is that private equity is usually involved in investing in large company where as venture capital invest in small start up companies. These small and young businesses generally have high level of uncertainty, thus making them more risky. In additional, these businesses generally dont have many tangible assets making it extremely difficult for them to secure bank loans, therefore making venture capital a very good option for them. VC firms are not interested in companies that are trying to create a market, or companies that are in a mature market, instead they look for markets that have a large number of potential users. (Mason, C. Pierrakis, Y. 2009) A typical venture capital investment usually lasts from 3 to 7 years, and the standard sequences of venture capital investment are the following: The founder of an idea or product will try and persuade the venture capital firm that their idea/ product is sensible and profitable. If the venture capital firm is happy with the founders proposal, it will provide funding for the founder to set-up; this includes management team, development of a fully functional prototype, marketing research. In return the VC firm will get an equity stake of the invested company. Once the setting-up is finished, the VC firm will provide funding and support on promoting and selling the product. If the product is successful, reaching the targeted market shares, the VC firm will exit cashing in its investment. (The Smart Set-Up 2008) The first VC firm was found in 1946 by MIT President Karl Compton and General Georges F. Doriot named American Research and Development (ARD) which was structured as a close ended fund. ARD was extremely successful since it turned an investment of $70,000 in Digital Equipment Corporation to a value of $355 million after the companys initial public offering. A number of VC firms which was structured as close ended fund was established after ARD, but it wasnt until 1958 the first VC limited partnership was established by Draper, Gaither and Anderson. Limited partnership became more common in the 1960s and 1970s; however the majority of VC firms are still structured as close ended fund. (Gompers, P. Lerner, J. 2001) Today, Venture Capital has been affected by the recession. Not as much money is being invested as 5 years ago during the height of the technology bubble. Currently Venture Capitalists are decreasing there overall amounts invested but are moving towards allocating more to later-stage investments. Currently there are fewer young entrepreneurs with great new ideas who are willing to risk building and sustaining a business. However this downturn is not expected to continue forever and it is China that will lead the way as the new most exciting venture market with 1.3 billion potential consumers. Yet, it is not only China who will rise from this downturn, UK along with other traditionally strong venture markets will re-emerge, but the question remains whether or not it will attract as much venture capital as it once demanded. Although China is set to become the biggest venture capital market, it can without a doubt learn an awful lot from past experiences of the UK market to assist its de velopment. (Deloitte. 2009) UK Venture Capital Industry Overview Introduction: importance of the UK venture capital industry Although the private equity industry in the UK founded its roots back in 1940s, it started to take off and grow rapidly from the mid 1980s, and now is second only in importance globally to the USA. In Europe the UK private equity market is regarded as the most mature (Tannon et al. 2005 cited in Soderblom 2005). 40% of the European PE industry is shared by the UK funds. As of % of GDP, the UK is the most significant private equity investor in Europe at a level of 1.10% (Figure 1), but out of this only 0.21% goes into venture capital financing while the rest is invested in the buyout sector (EVCA, 2005b cited in Soderblom 2005). It is important to note that in Europe the terms venture capital and private equity or risk capital are often used interchangeably, as European private equity funds typically include three main sub-categories: venture capital for start-up businesses and early stage companies; later stage expansion capital; and management buy-outs and management buy-ins. This t erminology differs from the one in the US, where private equity funds are considered as separate institutions from those managing venture funds (European commission 2006). That is why in UK venture capital is regarded as an integral part of private equity, but as the riskier part of the whole portfolio of PE funds. The UK VC Industry has been always compared to the US VC Industry in its performance and main development drivers. However, Richard, chairman of Library House (2007), argued that instead of benchmarking each European country against the whole US, it is more reasonable to explore the difference in VC performance between separate states, and then compare them with countries in Europe. Thus, Library House has produced a league table, which put the UK a third in this ranking in 2006 with 515 minority stakes worth à ¢Ã¢â‚¬Å¡Ã‚ ¬1.78bn. California was first with 1,367 deals worth à ¢Ã¢â‚¬Å¡Ã‚ ¬9.1bn, followed by Massachusetts with 338 deals worth à ¢Ã¢â‚¬Å¡Ã‚ ¬2.1bn. Development of Venture Capital Industry in UK and recent trends VC Industry in the UK started from 1945, when Industrial and Commercial Financial Corporation (ICFC) was created (Clarysse et.al. 2009) to provide capital to growing independent businesses, which later became a global private equity firm, with à ¢Ã¢â‚¬Å¡Ã‚ ¬8bn of assets under management (3i 2009). However, in 1970s availability of experienced VC managers proved to play an important role in taking-off the industry and developing it to the most successful in Europe. From early times of the development, the UK VCs were concentrated on leveraged buyouts and expansion type deals, as start-up opportunities were weak and not promising (Clarysse et.al. 2009). This is still the case in a current VC industry in UK making investments in established companies traditionally more attractive. Nevertheless, the UK VC Industry has shown a radical increase from  £26m invested in 1983 to  £1,048 in 2008. High-technology companies made more than 50% of those investments (Clarysse et.al. 2009). Over the last decade, the UK has been maintaining the average level of VC investment in early stage development of new ventures between 20% and 30% of total VC (BVCA 2009). VC Industry in recession Business XL (2009) reports that investments in ventures have decreased since 2006: 2 billion compared to estimated 750 million in this year. This suggests that venture capital industry was affected by the financial crisis. In the face of the recession that has challenged their existing portfolio companies, VCs are trying to secure more money to support those companies. Thus, most of the emerging opportunities are passing by without being considered by venture capitalists. Even though lower valuations of ventures seem to be a good deal for opportunistic VCs, according to Deloitte Research (2009), global trends indicate that large VC firms ($ 500million or more) have cut their investments more than small investment firms ($99 million or less). As the figure shows after the â€Å"dot-com† bubble in early 2000s the value of VC investments was falling gradually. But then, according to BVCA (cited by Mason et al. 2009) private equity and venture capital investments tripled in value between 2003 and 2007 from  £4bn to almost  £12bn. However, the value of investments fell by 28% in 2008 as the financial crisis took place. These trends indicate thatinvestment activities in Venture Capital Industry are very cyclical and fairly dependent on the general state of the economy. Source: BVCA Report on Investment Activity (various years) Importance of VC industry for growth of the UK economy According to BVCA (2009), companies backed by venture capital are more efficient and grow faster: VC-backed firms compared to those that do not receive venture capital backing are more innovative and produce more patents (Kortum et al. 2000), they develop and launch their products to the market faster (Hellmann et al. 2000), and have faster managerial professionalization (Bruton et al. 2005). In the UK during the time 2002-2007, the annual growth in number of people employed in VC-backed companies was 6%, sales growth was 12% annually, and exports were 14% annually (BVCA, 2009). Research undertaken by IE Consulting (2008) implies that venture capital funding plays a crucial role in making the whole UK economy more productive and competitive. VCs provide seed capital for new businesses helping them to develop the new high-tech products, market them, and to grow further to set-up their manufacturing and sales operations. Even though VCs contribution to growth of national economy is indirect, through funding new venture companies, this role is indeed the cornerstone of increasing innovation activities and development of advanced high-technology based firms in the country. The survey among 1013 VC-backed businesses (IE Consulting 2008) in UK identified that 86% of respondents have grown their businesses â€Å"organically† since receiving venture capital funding. 91% of the surveyed venture companies confirm that â€Å"venture capital was responsible for the existence/survival of their businesses and allowed them to grow more rapidly† (IE Consulting 2008). Moreover, there are also tax implications from the growth of VC-backed firms: public revenues increase as a result of growth in sales of those firms, and consequently more taxes are received by the government (including not only corporate taxes, but some other taxes resulting from growing venture firms operations). All these facts underlie the positive impact of venture capital industry on the overall economically important factors of the country such as job creation, growth of small and medium-sized businesses, investments in innovation and high-technology firms. Problems of Venture Capital industry in the UK Although UK is considered to be a world leader in Private Equity and Venture capital sector, second only to the US (IE Consulting 2008), still there are problems to be resolved as there are concerns that UK lags behind in the growing of ‘new high-tech based economy and innovation activities. The figure below taken from the report by Think Play Do Group (2009) prepared for BVCA, comparing VC industry development to US and Israel, the world-leaders in VC, shows that VC investments in the UK as a % of GDP are much lower than those in the US and Israel (Figure 3). This confirms the concerns that underinvestment in VC industry should be resolved and underlying problems identified and treated appropriately. Supply and Demand drivers for Venture Capital in the UK Since Venture Capital is so important for the economic development of the country, it is necessary to gain insight into how VC Industry is driven by supply and demand determinants. Moreover, the problems in the development of this industry can be identified through the closer look into both sides of it. Main demand side determinants of VC performance in the UK The demand for venture capital is drawn by the quantity and quality of innovative companies looking for funding and that are able to produce particular rates of return on those investments (Clarysse et.al. 2009). So, first of all, demand for VC is highly driven by early-stage entrepreneurial activities in the country. According to GEM Global report (2008), which explores the relationship between entrepreneurship and economic development, and particularly investigates â€Å"Entrepreneurial Attitudes, Activities and Aspirations† across 43 countries worldwide, in the UK 41% of adult population agreed that there are good opportunities to start a business in the next half of the year, and 52% considered entrepreneurship as a desirable career choice. However, only 5% expected to start a business in the next three years. All of these resulted in a very low rate of entrepreneurial activity, especially at the early stage which is just 5.9% of the whole population. Compared to the US (10.8%), this entrepreneurial activity is quite low, and might be a result of high percentage of respondents (38%), who believe that fear of failure would prevent starting a business. Clarysse et.al. (2009) explain that with bankruptcy laws that are more entrepreneur-friendly in the US compared to the UK, where there is high correlation between company and personal bankruptcies. One of the most important factors affecting the demand of VC is a stock of knowledge, which can be gathered through universities or national laboratories. Strong RD culture and easier spin-outs from those universities proved to have very positive effect on formation of new companies. It is also commonly considered that due to the lack of a culture of commercialising research in most of the European Universities (including the UK), these conditions are less effective in facilitating the commercialization of business ideas compared to countries where universities are normally private and dependent on commercialising research in order to increase revenues. Thus, indications of technological opportunities, such as growth rate of RD investments, availability of patents and access to university spin-outs seem to have a great impact on the demand for venture capital funding mainly through increasing number of new start-up firms exploiting those available opportunities. Statistical data (Worldbank 2008) indicate that between 1996 and 2006 RD expenditure in the UK as a percentage of GDP was stable between 1.5% and 2%. Fairly low capital gains taxes in the UK have had favourable effect on demand for VC in the UK, as it makes more people willing to start their own company. CGT rate has been reduced since 1988 from 40% to 10% for higher-rate tax payers for long-term investments. Though in 2008 this rate increased again from 10% to 18% in 2008, it is still low enough to encourage new business start-ups. (Clarysse et.al. 2009) According to statistical analysis conducted by Clarysse et.al. (2009) entrepreneurial activity is an important determinant of VC investments in the UK, so in order to enhance VC activities in thecountry policy makers should work on increasing entrepreneurial activity. Main Supply side determinants of VC performance in the UK There are different factors identifying the level of supply of VC, such as the situation on the exit markets, regulation policies, the fiscal environment and wider economic situation. The main problem is that the amount invested in early stage company is still low in the UK. The investors in the country are more interested in established businesses rather than in new innovative small companies, which is evidenced by the dominating buyout sector. According to Martin et al. (2003) and EVCA (2005) cited by Soderblom (2006), over 70% of all private equity goes into buyouts. For the last few years the early stage investments have substantially decreased in the UK, where VC allocations to seed and start-up phases account for only around 5% out of total PE investments (EVCA, 2005b cited by Soderblom 2006 ). Even with the fact that between the early 1990s and 2001 the volume of investments in high-technology companies in the UK increased tenfold (Martin et al., 2003) the VC investments in high- tech firms as a percentage of GDP was only 0.21% in 2005 (EVCA, 2005b cited by Soderblom 2006). The Figure 4 below illustrates these trends during the last decade. These low investments in early stage firms can be explained by the notion of â€Å"short terminism† which is the prevalent attitude towards returns on investments in the Capital market in the UK (Oakey 1995). It is evident that new high-tech based firms (NTBFs) have had a bad reputation among investors for being unreliable due to their inability to meet â€Å"fast return† demand and other â€Å"milestones† predicted in their business plans (Oakey 1995). Even more recent studies (Lockett et al. 2001) on â€Å"whether or not the UK VC industry has become less biased against investment in new technology-based firms† conclude that, although, investment in new high-tech based firms have increased by 2000s, the investors do not appear to be lowering their target rates of return for technology-based investments compared to non-technology-based investments at the same stage. So, even with higher acceptance rates for NTBFs, technology still proves to be a more important risk factor than stage of investment. Especially, the survey by Lockett et al. (2001) indicates that venture capitalists believe that many of NTBF proposals continue to be riskier than non-technology projects due to issues in management quality, intellectual property protection and potential market size. So there comes the problem of equity gap for the NTBFs. These firms are unable to get investments from either business angels or venture capitalists. The reason is that the small private Investors have limited financial resources and generally invest relatively small amounts of equity that is not enough for the new ventures and at the same time venture capitalists invest in bigger projects and the minimum sum they provide is higher than that the company asks for. According to the 2004 Bridging the Finance Gap report, the equity gap affects businesses seeking to raise between approximately  £250,000 and  £2 million of equity finance, and that this gap is most severe for sub- £1 million investments and for innovative businesses at an early stage of their development. Exit strategy for investor. On the supply side, stock market activity and the availability of trade sale opportunities were found to be important elements. VCs think in milestones but dream of exits. Visible exits such as stock market introductions are important for VCs to raise funds. It does not really matter whether these companies are introduced on local or international public markets as long as the stock market is liquid.(source) Ideally, investments are realised through an IPO, an industrial trade sale, or a secondary sale (Sà ¶derblom 2006). However, deep and liquid stock markets and favourable conditions to realize trade sales tend to be the most important factors for VC industry to flourish. Bringing a company to IPO indicates the quality of the VC and is important for investors in considering subsequent funding rounds, even though IPOs only account for less than 5% of total exits. A secondary market in for stock exchanges in the UK was created with AIM (Alternative Investment Market founded in 1995, and has grown significantly, from having a capitalisation of  £82.2 million in 1995 to nearly  £40 billion at the time in 2008. Furthermore, the London Stock Exchange launched techMARK to help promote existing quoted technology stocks and attract new ones to the exchange. However, according to BVCA there is a slow development of early stage VC in Britain and the whole Europe because of the absence of a f unctioning pan-European stock exchange for early stage ventures. The problem is that the European second-tier markets are fragmented (as several second-tier markets were launched) which resulted in limited capitalisation and liquidity of individual markets. Thus, reforms in capital market regulations may be needed to allow the creation of a single stock market for growth companies (including the UK markets) promoting economies of scale (Clarysse et.al. 2009). The sizes of public funds in the UK have not enabled the industry to reach a sufficient critical mass and the limited availability of follow-on financing has resulted in a â€Å"second equity gap†. To address this, the government could cornerstone an investment into a fund-of-funds that would attract private capital from institutional investors which would invest in venture capital funds able to demonstrate a track record of strong performance. (source) The Importance of balance between private sector and public sector investors in VC industry Since the early development of venture capital industry till late 1990s venture funds were primarily publicly-funded and supported by Business Expansion Scheme, which was replaced in 1994 by the Enterprise Investment Scheme (Mason et al. 2009). At the beginning of 20th century Many of these funds became ‘hybrids, involving a combination of public money and private investors, with incentives which enhance the risk-reward profile to attract private investors. Although free-standing private sector investments increased in numerical terms from 2002 until 2006, they have declined as a proportion of total investment activity from 81% in 2001 to 56% in 2008. In the UK the increased involvement of the public sector is even more apparent in the early stage venture capital market (Mason et al. 2009) accounting for the majority of such investments. In 2001 public sector funds were involved in 36% of investments. By 2003, as the various funds established by the Labour Government came on st ream, this had risen to 51% and by 2008 accounted for 68% of all investments. The proportion of public sector investments in the form of co-investment schemes has grown from 28% in 2001 to peak at 56% in 2007, falling back to 45% in 2008. (source) Nonetheless, emerging evidence from a NESTA/BVCA study (Nightingale et al, 2009 cited by Mason et al. 2009) indicates that companies that have received funding from public sector venture capital funds have not performed significantly better than those firms that did not receive funding from such sources. One interpretation is that public sector venture capital funds may not be able to add value to the companies they manage, because there is a â€Å"necessity to attract, reward and hold together experienced and committed venture capital executives to manage public funds.† In other words, the individuals running public sector funds are highly rewarded and incentivised to make the best possible returns. On the other hand, public sector venture capital funds may not be able to attract capable investment managers, and consequently they are unable to make good investments (quality of deal flow, domain knowledge, effectiveness of their due diligence). Thus, dominating position of pub licly funded VC funds especially in economically lagging regions resulted in inefficient performance of regionally based funds in the Midlands and north of England, along with Scotland, Wales and Northern Ireland due to lack of entrepreneurial eco-system and necessary networks with expert VC managers and external investors, and this in turn resulted in the VC industry in UK being concentrated and limited in traditionally active centres as London and Cambridge. Analysis Such a market would have two crucial benefits; first, it would greatly improve the ability VC-backed companies to raise large sums of capital required for global expansion and secondly, it would help to increase the average valuations of MA transactions. Further research should be conducted to fill the gaps and update the existing literature on the feasibility of a Pan-European stock exchange. A briefly description of development of VC industry in China How it originated and developed? Chinas venture capital business started from the middle of 1980s. For about twenty five years development, Chinas venture capital has made a great improvement, especially in the recent four or five years. However, there are still a lot of difficulties and problems facing China venture capital. For example, lack of appropriate regulations and policies, inflexible venture capital investment mechanism, lack of diversity of funding sources or lack of effective exit mechanism and so on. In 1983, the State Science Technology Commission (SSTC) (now the Ministry of Science Technology or MOST) set up a Research Group of Countermeasures to the Influence of the New Technology Revolution in order to carefully study the international technology situation. (This was the first time for China to truly face the implications that were taking place in the development of the global economy. After that from 1985 to 1995, the Central Government and some local governments financed and set-up investment institutions that intended to pursue the venture capital business. (Jack C. Fensterstock, Aimin Li 2001) In the year 1999, lots of government funding were lost, because of not deeply and really understand VC. After that both government and private started to change, for example, make some polices and gave better conditions for those who is good at VC. Since 2006, VC is on its boom in china, with the government supplying majority of it, however the amount of both private funding and the funding from abroad has developed significantly, More, VC in china is paying more and more attentions on new technologies. (Jack C. Fensterstock, Aimin Li 2001) Policy support in China Venture capital as a risk investment, it is highly risky but also highly profitable. More integrated laws or regulations are needed for Chinas venture capital development. In China, to protect and regulate the VC markets, Chinese government had made some National laws and some local laws duo to its own background. (As the graph shows below) In China, there are several different business activities of Venture capital. However, it is not permitted for VC enterprises to invest in guarantee services or real property business activities. Venture capital investment business; Venture capital investment business carried out on behalf of other organizations such as VC enterprises or individuals; Venture capital investment consulting business; Venture capital investment management services provided to VC enterprises; Participations in VC enterprises and venture capital management consultancies. (China: Venture Capital Regulations Published January 6, 2006 Hong Kong) With the development of policy, technological and understanding of VC, both organizational and institutional elements in China are becoming more and more complex. The system that has emerged so far is highly complex in terms of variety and number of organizational actors. Although the result has been dramatic, the series of changes are best seen as evolutionary and primarily driven by Chinas larger objective of national technological and economic development. As such, key changes in Chinas science and technology policy and business system structure during the transition era can be linked to the emergence and nature of Chinas venture capital industry. In this context, venture capital is simultaneously an extension of prior policy trajectories, as well as a potential answer to problems that other policy initiatives have not been able to solve. Balance between private and public For the venture capital industry in China, unlike other countries, it has been promoted not as a means to private gain; it is a critical mechanism to connect among scientific, technological capabilities and output. one hand, with national and regional economic and social development on the other which includes the total set of related actors and institutions, has undergone a dramatic transformation over the last two decades. The source for fund is very single, most of them are from government, or mixed by both private and government. Also, for Chinese government, it is always believed that both science and technology are the most significant parts of its search for economic development. (Steven WHITE, 2008) Most venture capital funds have a fixed life of 10 years, with the possibility of a few years of extensions to allow for private companies still seeking liquidity. The source for fund is very single, most of them are from government, or fixed by both private and government, and government takes the risky, compared with others, this kinds of fund do not want to take high risk investment. The national and local governments may establish venture capital investment guidance funds. The funds are to support the establishment and development of VC enterprises by taking equity participations and providing financial guarantees, etc. The state shall use beneficial tax policies to support the development of VC enterprises and to encourage them to invest in small and medium size enterprises, in particular in the high tech sector. The foregoing preferential policies shall be set forth in regulations to be drafted by the relevant authorities. Exit mechanism of Venture capital in China Chinas venture capital business started from the middle of 1980s (2). For about twenty five years development, Chinas venture capital has made a great improvement, especially in the recent years. Yet there are still a lot of difficulties and problems facing China venture capital. Compare to developed countries, China venture capital still lagging far behind. Exit mechanism as the major process of making profit from investment, it is very important to Venture capital. However, Because of the lack of appropriate laws, regulations or market structures and so on, exit become extremely difficult for China venture capital industry. Exit mechanism of venture capital mainly including four methods, initial public offering (IPO), mergers and acquisitions ¼Ã…’repurchase ¼Ã…’write- off (10). In China, about 15% of venture capital exit mechanism is by IPO in recent years, this is higher than in developed countries, this is not good because over half of listed companies are overseas-listed; over 37% of venture capital exit from mergers and acquisitions which is the highest compare to the other exit mechanisms (Qisong Wang, 2004), and this is still increasing. Both numbers are proving that chinas venture capital exit mechanism lacks of flexibility, the reasons lead to exit inflexibility can be described as follow: lack of appropriate laws, policies or regulations; inadequacy of a well organized market structure; absence of a efficient intermediate service system; limitation on enterprise ownership structure, and so on. One big very important element should be taken into consideration is that the Chinese government involvement. Most domestic venture capital institutions in China carry a government background or were once state owned enterprises, this deprive them of the capability of adapting to the high marketization, ardent competition, high intelligence, and high-responsiveness of the venture capital industry (Gongmeng Chen, 2005). The inflexibility of venture capital investment mechanism and lack of competitiveness is another problem to China venture capital development. If they do not thoroughly press forward with the marketization and globalization reform, even though they can have some development it will not be a long-term intrinsic development. No matter the market or policy environment in China, both have limited the adjustment of venture capital development. What the government can do is to build a more specific regulation system to rule the whole venture capital market. The Chinese marke t is attractive to foreign venture capitalists because of large domestic demand, rapid economic development (Chang Sun, 2006). Government itself can do investing but the more important thing is to encourage private equity and other forms of capital to involve into venture