Games and Economic Behavior for Overconfidence- myassignmenthelp

Question: Discuss about theGames and Economic Behavior for Overconfidence. Answer: Introduction Overconfidence is not just a fundamental psychological trait rather it can be considered as a well-established bias. In this case the subjective confidence of a person seems to be reliably higher than the objective accuracy of their judgements. However, there are other definitions of overconfidence as well. Author defines overconfidence as the overestimation of a persons actual performance or over precision in depicting the unwarranted certainty regarding the accuracy of the beliefs of a person. The emergence of overconfidence and its impact over the decision making processes has widely been discussed. Extensive research works have been conducted on the basis of the impact of overconfidence in the context of financial, business or corporate decision making. More specifically overconfidence can be considered as the behavioural bias which is most willingly researched by the academicians who are working in the field of economics. In other words the better than the average effect which i s simply the tendency of individuals to overestimate their expertise and capabilities relative to a reference group gives rise to direct likelihoods in the context of decision making. This assignment will solely focus on analysing three relevant journal articles which are broadly based on the impact of overconfidence on decision making. Primarily it will present summary of the three articles followed by a detailed analysis of those individual articles. Finally each of the articles will be compared and contrasted with respect to the other, for instance their similarities or difference will be discussed. Afterwards a discussion section will be there where the relevant understanding developed through reading these papers will be discussed and then certain recommendations will be provided. Article Summary This paper considers overconfidence as an effect which is named as better than average effect and this compels people to assume that believe that their skills and capabilities are over and above the average level. The paper will focus on developing an experimental paradigm through which a distinction could be made between the two potentially possible clarifications for the effect; these are specifically overconfidence and rational information processing (Merkle Weber, 2011). In order to do so an experiment has been conducted. The participants of the experiment were asked to enumerate their relative position within the populace through stating their distribution of complete trust. However, the findings of the paper portray the fact that people holds specific beliefs regarding their capabilities in inexplicably different fields or genres which are sometimes inconsistent with the rational information processing. These people have depicted considerably high over-placement at both the in dividual level as well as the aggregate level. Henceforth, the paper comes into a concluding fact that overconfidence cannot only be regarded as a simple trait of overconfidence rather it is a result of a psychological bias (Merkle Weber, 2011). In the second paper emphasises over the impacts of overconfidence over the incentive contracts in the context of a moral hazard framework. It has been observed that the overconfidence of an agent can impose certain conflicting impacts on the equilibrium contract. On one side of the spectrum, an overconfident or optimistic agent may value the success-contingent payments disproportionately and hence prefers incentives which are high-powered (De la Rosa, 2011). On the other end of the spectrum, when the involved agent overestimates the degree to which his or her actions can affect the outcomes, whereas the low-powered incentives are adequate to persuade any given level of effort. On an added notion, when an agent is soberly overconfident, the effect stated latter dominates. This is because in such a case the agent bears less risk there are gains in efficiency gains which is stemming from the his or her overconfidence (De la Rosa, 2011). Again when the agent is extremely overconfident, t he former effect will dominate and then the agent will get exposed to a great amount of risk. At that point of time any gains will be generated only through risk sharing under disagreement. The findings of the paper depicts that a rise in the level of overconfidence or optimism raises the implemented effort in equilibrium. This paper is constructed on the basis of five experiments which strictly exhibit the fact that previous experience of possessing power certainly leads towards overconfident decision making. The study will make use of different instantiations of power that includes an episodic recall task (in experiments 1-3), a measure of power which is related to work (in experiment 4) and assigning of high and low power role (experiment 5) as well as the power produced overconfident decisions which gave rise to significant monetary loses on the part of the powerful (Fast et al., 2012). The findings of the paper clearly depict the fact that the presence of power plays an important role in generating these tendencies of decision making. Primarily, the sense of power not the mood influences the link between overconfidence and power (experiment 3). Secondarily, the linkage between the overconfidence and power was detached when power not accessible to the powerful as well as when the powerful was made to feel incompatible in their genre of power (Fast et al., 2012). These findings portrays that when the presence of objective power makes the people feel subjectively powerful then it gives rise to overconfident decision making. Article Analysis- Analyse Each Article As the first paper specifies that in a recent academic literature the notion of overconfidence has been challenged as this was only analysed in the domain of economics and psychology previously. They criticised the use of conventional methodology while explaining the better than average effect. The authors who raised the argument also showed the fact that in a simple signalling framework; the processing of rational information will lead to the results which were previously considered as the evidence of overconfidence (Merkle Weber, 2011). Now in order to overcome the criticisms posed by these authors the current research work is based on a strategic guideline which will be able to indicate the existence of real overconfidence. This will be done through the improving the previous research methodology. The researchers observed that there are many different sets of opinions which are able to providee the same result whenever they are aggregated. However, in this context the Bayesian posteriors and the actual overconfidence are typically same. Therefore in order to fetch more detailed beliefs of the participants regarding different domains which were previously associated with overconfidence, underconfidence and overoptimism the authors had designed two different experiments (Merkle Weber, 2011). Along a quantile scale the self-evaluation were performed that elaborated the ability distribution compared with a peer group. In accordance with this scale the participants provided the estimates which in turn represent their subjective probability of falling into each of the skill quantile. This extended valuation of the test allowed the researchers to re-verify whether the results were in accordance with the rational information processing or not. The results obtained from the test depicted that there exists substantial amount of overconfidence in the belief distribution of the participants of the experiment (Merkle Weber, 2011). Most of the people found that their probability of falling in the high quantile in higher. Moreover, interestingly, the unskilled exhibits depicted overconfidence. However, the research work also found the fact that the theoretical criticisms as posed by the previous researchers have only certain practical values regarding overconfidence research. The standard model of principle-agent has been used widely to determine the incentive structure in different organisations. It thoroughly provides a detailed overview of the forces that give form to the incentive contracts on basis of the assumption of full rationality (De la Rosa, 2011). There are many instances that people are often overconfident about their future prospects and ability. This is the behavioural characteristic that seems important regarding the agency problem. The paper aims to enumerate the impact of overconfidence of the agents in a moral hazard model, significantly its influence over the equilibrium contract. Overconfidence of agents may give rise to conflicting results within the equilibrium contract. On one hand, if the agent is overconfident, a lower amount of compensation is sufficient to bring any level of effort rather compared to the effort which is cost-effective. This is referred to as Incentive Effect of overconfidence; it thrusts the equilibrium contract towards low-powered incentives. In the other end, when the salesman is overconfident confident enough he or she will certainly overestimate the probability of the sale, at this point of time he or she will find a high commissioned contract of incentive more lucrative than a realistic agent would (De la Rosa, 2011). This is because the owner will believe that she will have to pay the commission more frequently. At that point it will seem that hiring a person with high powered incentive and lower base salary is more attractive, this is termed as the Wager Effect of overconfidence. Interestingly the findings of the paper depicts t hat overconfidence of the agents can be beneficial if measures in terms of efficiency (De la Rosa, 2011). The third paper is solely concerned about the fact that though overconfidence among the powerful have always remained a widely discussed issue, lesser focus in given over the psychological and sociological factors which gives rise to the overconfidence. The research work will try to examine this relationship between the sociological and psychological factors with the occurrence of overconfidence. This will not only focus on the factors that give rise to overconfidence but also explore when it is more likely to take place (Fast et al., 2012). The substitute explanations of the existence of overconfidence within the powerful will also be examined in this research. It may be a case that the overconfident individuals are more attracted towards power and are more likely to achieve a high-powered position. If this is the case then promoting only those who does not have a tendency towards overconfidence would certainly help to resolve the problem. On the other hand, when a person has pre-ex isting experience of possessing power it may give rise to overconfidence which will in turn make it difficult to tame relationship between overconfidence and power (Fast et al., 2012). This paper has broadly examined why when and how the emergence of power will lead to overconfidence. In order to do so the researchers have conducted five baseline experiments and these experiments were so designed that the findings of an experiment substantiates the findings of the other experiment. The experiments conducted revealed the fact that psychologically experiencing power can lead to the overconfident decision making. Article Comparison The key similarity between all the three articles is that all of them are based on the emergence of overconfidence and its impact on decision making process. All the researchers have tried to establish the fact that overconfidence is not only a psychological trait; rather there are certain other factors as well which gives rise to this overconfidence. It is also a matter of fact that all the articles analysed in the assignment clearly depict that overconfidence may lead to wrong decision making. If this decision is regarding the economy or the financial aspects of an organisation it may harm the core interests of the firm adversely. On the contrary sometimes overconfident decision may also benefit the organisation as well. However, from the primary viewpoint there are huge dissimilarities among the research works. The first article traces out the key reason behind the emergence of overconfidence, while the second one approaches on overconfidence through the traditional principle agent framework. The third, article also explains overconfidence in the light of pre-existing experience of possessing power. This means that the third article states if a person has experience of possessing power he or she will be more likely to be overconfident. Hence it can be said that although the research works stated above are concentrated on the same factor, each of them has tried to approach it from different perspectives. Discussion After analysing and reviewing all the articles it can be clearly said that all of them are based on rational assumptions. The findings are quite plausible which are obtained on the basis of the calculations and analysis. Hence it is quite evident that these research works are very well written and based on logically established calculations. However, as all of the articles are based on overconfidence, on a recommendation note it can be said that people should not always base their decisions under the influence of overconfidence. Though it may sound contradictory but it is necessary to mention that sometimes overconfident decisions may also sound beneficial for the decision maker, though it is quite rare. Works Cited De la Rosa, L.E., 2011. Overconfidence and moral hazard. Games and Economic Behavior, 73(2), pp.429-51. Fast, N.J., Sivanathan, N., Mayer, N.D. Galinsky, A.D.., 2012. Power and overconfident decision-making. Organizational behavior and human decision processes, 117(2), pp.249-60. Merkle, C. Weber, M.., 2011. True overconfidence: The inability of rational information processing to account for apparent overconfidence. Organizational Behavior and Human Decision Processes, 116(2), pp.262-71.

Case Study Software Operations are Harming Common Peoples

Question: Case Study: Software operations are harming common peoples. Answer: 1. What is going on? In this case study, the fixed rules or software operations are harming common people. Moreover, due to incompetency of the company employees as well as out-of-date softwares, the records of the clients are getting mismatched or misplaced. In other cases, the system generates false information regarding the clients annual income or property values. Another main thing in this context is that the company does not take suitable steps to mitigate the issues arising and update their system according to requirements. The result is that the common users and clients get cheated or even robbed of their deserved resources. 2. What are the facts? In this case, the facts are as follows: Incompetent Company The records of the clients are getting mismatched or misplaced. In other cases, the system generates false information regarding the clients annual income or property values. The company is getting away with all mismatched records and other issues, justifying them as fixed system issues for which, records cannot be changed. Insufficient Use of Technology Due to out-of-date softwares, the records of the clients are getting mismatched or misplaced. In other cases, the system generates false information regarding the clients annual income or property values. Incompetent Employees of the Company - The employees of the company are not being able to deal with the advanced recording system. As a result, there are a lot of manual errors occurring that is resulting in the errors in client records. Cheated Clients The clients are getting cheated and are unable to do anything about the situation. Moreover, they cannot even sue the company, as the records show otherwise and there no proofs of companys faults. 3. What are the issues? There are several issues in this story. The issues are as follows: The companys systems are outdated and are unable to keep up with the amount of records stored within the hardwares. The employees of the company are not being able to deal with the advanced recording system. As a result, there are a lot of manual errors occurring that is resulting in the errors in client records. The company has not taken any initiative to upgrade its systems or train its employees. The company has not taken any steps to rectify the records and return values to the users. 4. Who is affected? In this case, only the clients are affected. The company is getting away with all mismatched records and other issues, justifying them as fixed system issues for which, records cannot be changed. Due to inefficiency of the systems and incompetency of the employees, errors are inserted and recorded in the system for which, the properties or monetary values of a client are getting misplaced. For this reason, the clients are getting cheated and are unable to do anything about the situation. Moreover, they cannot even sue the company as the records show otherwise and there no proofs of companys faults. 5. What are the ethical issues and implications? There are several ethical issues related to this case. These are follows: The company is not following moral values regarding the handling of their clients. For the errors generated from the systems, the company just blames the system and gets away with it. There are no direct proofs of company mismanagement and hence, the clients cannot do anything regarding the matter. The employees of the company are incompetent. However, there are no direct reasons to blame them as the company has given all the blame on the computer systems. 6. What can be done about it? Several steps can be taken regarding this case. Firstly, although there are no direct proofs of companys mishandling, they can still be sued for mismanagement of the clients resources. The company is advised to upgrade the computer systems so that these type of cases do not happen in the future. Moreover, the employees should be trained more to make them competent with the latest technology so that handle clients information more efficiently and manage to identify errors anytime. 7. What options are there? There are two options in this case. The first option is that, the affected clients can use legal help to retrieve their resources and rectify their records in the companys system. This will also discourage the company to get away with these errors in the future. The second option is that the company should immediately change its computer systems and rectify all existing errors regarding the clients information. This will ensure the errors will not happen in the future. 8. Which option is best and why? The best option is the complete overhaul of the companys computer systems. This will be long term solution that will not only ensure these cases will not happen in future but will also help the company to increase its reliability within the customers. 1. What is going on? In this case, there are two different scenarios. In the first scenario, the manager of the company does not know anything about the programming operations and hence, he orders his employee to complete the task within a limited time. In the second scenario, the employee, unable to complete the task in time, steals the work of some other employee, incorporates it into her own work, and submitted it in time. Now, the issue in this case is that, the employee, whose work is stolen, does not even know about it and as Jean submitted her work already, the employee who actually did the work will get caught due to theft of work when he submits his program. 2. What are the facts? The facts in this case are as follows: The manager of the company does not know anything about the programming operations. He does not understand the complexity of the programs and moreover, he does not care how the work will be done. The employee, unable to complete the task in time, steals the work of some other employee, incorporates it into her own work, and submitted it in time. Here, in order to complete her job, she steals someone elses work without acknowledgement or even documentation. The main fact here is that, the company will benefit from the works but if the theft is caught, the responsible person will be the employee that will result in severe punishment. On the other hand, if the employee could not submit the work in time, then also he / she would get punished. 3. What are the issues? There are several issues in this case. The first and the most major issue is lack of professionalism within the employer as well as employee. The employer has no knowledge regarding the complexity of works or the programs and orders one employee to complete it in time. On the other hand, in order to complete the task in time, the employee steals someone elses work and incorporates within her work without acknowledgement. Another issue is that, the employee will be affected and face punishment in any case if the task is not completed or the theft is caught. 4. Who is affected? The only one to be affected in this case will be one of the two employees. The first employee, Jean, would have been punished if she could not submit the work in time. Again, if the act of stealing is caught, she would be punished severely. On the other hand, if Jean is not identified to be the stealer, the other employee, whose work was stolen will be caught and punished. However, the company is not affected by any of these and will only reap benefits from the work, whether it is stolen or original. 5. What are the ethical issues and implications? The main ethical issue that arises from this case is that only the employees are negatively affected one way or another. The employee is not given sufficient time to complete a particular task and if he steals someones work to complete the task in time, again he is prosecuted for stealing. However, the problem stills persists. As long as changes are brought in the companys operations, these ethical issues will continue to happen and more and more employees will be made scapegoats. 6. What can be done about it? The only thing that can be done in this case is complete overhaul of the companys operational structure. This should include better handling of the operations and management of duties. For this, the task should be allocated among employees by better allocation of time. This will help the employees to work on their own without stealing others works. Moreover, if such cases happen again, the manager should also face penalty. This way, the manager would not exert so much pressure on the employee in the near future. 7. What options are there? There is only one option for the mitigation of the issues a complete overhaul in the companys management system with better handling of managers and employees. There should be proper guidelines on the employee management as well as work ethics of the employees. Without these steps, the same issues will continue to go on. Again, a number of experts are to be employed who will be able to estimate some timeline needed for a particular programming task so that the employees are provided with sufficient time for doing a task. 8. Which option is best and why? The option is selected for two main reasons to introduce better management of tasks and employees and maintain work ethics of the employees. This is also ensure fair handling of operations and employees and none of the employees will be punished without right reasons and proofs. 1. What is going on? In this story, the dilemma of the new expert related to the changes in the technical system is highlighted. Here, the new expert has found that there too many bugs and technical glitches that cannot be solved completely and ultimately, the whole system will crash causing loss of huge amount of data. However, the company has rejected the demands of overhauling the complete system to bring in new technology and ordered the expert to work on the existing system. 2. What are the facts? The facts are as follows: The previous expert could do not complete the work and due to inexperience, he has created a lot of permanent bugs and technical glitches. After that expert left, the new expert analyzed the system and found that the bugs cannot be deleted permanently and ultimately, these will cause the whole system to shut down completely with loss of all the data within the system. After analyzing the report, the company has decided to reject the experts advice to change the technology and the system completely. The company wants to stick to the current system and orders the expert to continue working on the system and remove the errors anyhow. 3. What are the issues? The issues are as follows: The new expert has detected the bugs and glitches in the system and understood how harmful these are to the system. He has also found that these bugs cannot be deleted and in near future, these bugs will completely destroy the whole system. The immense experience of the expert drives him to the conclusion that the framework is unstable to the point that it will in the end degenerate beyond recovery and that every one of its information will get to be unrecoverable. He along these lines advises the chief with respect to his discoveries and suggests that the framework be redeveloped utilizing fitting advancements and quality control measures. He demonstrates that the whole redevelopment exertion will take around 6 weeks. The administrator rejects the experts suggestion, expressing that their IT Department will not consent to an adjustment in innovation, and guides him to finish the undertaking utilizing the current technologies. 4. Who is affected? In this case, the expert will be affected for short term and the company itself in the long term. 5. What are the ethical issues and implications? 6. What can be done about it? The only thing that can be done here is changing the companys policy in the handling of the technological aspects. The company officials must understand the long term effects of the issues mentioned by the expert. In addition, they should understand that although changing existing frameworks will involve large expenses; this will settle the issues that will damage the company in the long run. Moreover, the company should change its policy of sticking to its fixed guidelines and should consider experts feedbacks more carefully. 7. What options are there? There are two options available here. The expert should continue to work on the existing system with his own techniques. However, he should note down every aspects, bugs and other errors in the system everyday and should also notify the company that he will not be responsible for the system corruption and loss of documents in the future, as the system bugs have been created by the previous expert. The company must change its policy in the handling of the technological aspects. The company officials must understand the long term effects of the issues mentioned by the expert. In addition, they ought to comprehend that albeit changing existing systems will include huge costs; this will settle the issues that will harm the organization over the long haul. In addition, the organization ought to change its approach of adhering to its settled rules and ought to consider specialists' reports more carefully. 8. Which option is best and why? The second option is best for this case. For the first option, the expert may avoid penalty, but the company will lose huge amounts of data as well as the system and ultimately, the system will need an overhaul and that will involve more expenses. For the second option, the company has to bear the expenses of the new technologies and systems, but this will ultimately benefit the company in the long run. The issues of bugs and technical glitches will not occur and the expert will be able to work on the system effectively and efficiently. The management system of the company needs overhaul as need for analytic power to understand the long term harmful effects of buggy systems. Analysis of the Case Studies with the help of Classical Ethics Theories The classical ethical theories are as follows (Australian Computer Society, 2012). Consequentialist Theory - This theory analyses the consequences of an issue and classify them as good or bad. Some of the effects are intrinsically good or intrinsically bad. This theory is used to analyze these intrinsically bad effects of the story consequences to understand the amount of ethical issue associated with the story. (Saha, 2015) Deontological Theory - This theory deals with the consequences of some ethical issues that cannot be explained by general use of words. This theory is used to analyze the consequences on a larger scale. To be precise, this theory is used to understand the extent of violation of basic rights and privacy of an individual. (Slade Prinsloo, 2013) Virtue Theory - This theory deals with the moral values associated with the particular story. The theory describes about the preservation or destruction of honesty in a selected story. (Sosa, 2015) The first case is described properly by the deontological theory (Goodman Meslin, 2014). This theory deals with the ethical issues that violate basic rights of an individual. In the first case, the clients basic rights are violated by the company. Although the company is not involved in direct violation, the errors in the existing systems and incompetency of the employees are the driving forces behind the issue. The second case is dealt by virtue theory (Nathan, 2015). This theory is based on ethical issues that are associated with destruction of honesty of an individual. In this case, the employee, unable to complete the task in time, steals other employees work and uses it in her own task. Hence, the basic virtue (or moral value) of the employee is not maintained, regardless of consequences. The third case is described by consequentialist theory (Stahl, Flick Hall, 2013). This theory deals with the intrinsically bad effects of the story consequences to understand the amount of ethical issue associated with the story. In this story, the bad effects of the issues are inevitable unless the systems are not replaced by the company. However, the company does not understand the intrinsically bad effects and does not take necessary steps. 1. Whistle Blowing Policy Introduction Whistle blowing is the act, for an employee (or former employee), of disclosing what he believes to be unethical or illegal behavior to higher management (internal whistle-blowing) or to an external authority or the public (external whistle-blowing) (Ahmad, Maynard Park, 2014). The actual nature is debated; as noted by several authors, some see [whistle blowers] as individuals who violate organizational loyalty norms; others see them as truthful follower of values. They consider company loyalty to be more important than colleague relation or friendship (e.g., the public health, truth-in-advertising, environmental respect). Some authors said that whistle blowers are those who raise ethical issues are treated as disturbed or morally suspect (Albugarni Ahmed, 2015). Some authors asked whether whistle blowers really crackpots. In this essay, the immoral effects of whistle blowing have been discussed. Effects of Whistle Blowing Whistle blowers are the individuals who sound the caution on misuse of devices, crimes, misbehavior or acting against company policy. There are unmistakably illegal activities, for instance, pay off , burglary, and extortion. They also include offenses like isolation in work, negligence in manner and work, resource wastage, trickery, and security violation (Anderson, 2015). In a couple of implications of whistle blowing the whistle is simply held to have been blown if the carelessness is made known in an open assembling or put on open record. That understanding of whistle blowing is in no short of what one sense conflicting with its inspiration, which is to put right a found off course (Baskerville, Spagnoletti and Kim, 2014). In case a wrong can be remedied inside a relationship by strategy for inside disturbing work power to its occasion, then there may be no prerequisite for the whistle blower to air a protesting in an open social affair. The writing on whistle blowing is partitio ned on this point (Cezar, Cavusoglu Raghunathan, 2013). A late article in the Journal of Business Ethics looked to build up a prohibitive meaning of whistle blowing that would limit its intending to the individuals who go to an outside element or to an open discussion with data of negligence. Then again, the term is often utilized as a part of the writing to incorporate any divulgence of negligence whether interior or outer (Chen Zhao, 2012). While outer whistle blowing is generally done to the outer world from the inner part of the organization, it constantly comes about because of a mix of the disappointment of the informant with a disappointment of interior divulgence to address the issue, or a recognition that inward exposure will be pointless, combined with the as a matter of fact subjective judgment of a person with regards to the outcomes of not blowing the whistle (Crossler et al., 2013). In all cases concentrated on, and in the most part of cases considered, informants blew inside information through internal channels before going outside their association. In every situation where they did as such, they trusted that their association would bolster their endeavor to wipe out or counteract negligence (Albugarni Ahmed, 2015). American research recommends that workers go to outer powers 'just once they come to trust that interior channels are shut to them, that the association is not moral, and that senior administration is dormant or complicit in the wrongdoing' (Stack, Watson Abbott-Chapman, 2013). It is the disappointment of the association, or of a senior individual or persons inside it, to make a move that prompts the choice to reveal outside the association, whether to an administrative power, to the media, or somewhere else. Few whistle blowers appear to have profoundly considered or were even mindful of the presumable individual results of outer divulgence. In side divulgence was at first accepted by most by far of whistle blowers to be the time when the reported negligence would be redressed (Tamjidyamcholo, Baba, Tamjid Gholipour, 2013). Overall, inner revelation has as much claim to be viewed as whistle blowing as does the choice of going outside the association. Authors therefore define whistle blowing as follows: Whistle blowing is the deliberate, voluntary disclosure of individual or organizational malpractice by a person who has or had privileged access to data, events or information about an actual, suspected or anticipated wrongdoing within or by an organization that is within its ability to control (Taylor, Fritsch Liederbach, 2014). The disclosure may be internal or external and may or may not enter the public record. The primary intention of whistleblower protection legislation is to discourage workplace reprisals against whistleblowers. According to the ICAC study, 71 percent of those surveyed expected that people who reported corruption would suffer for reporting it. Those who had been in the public service for more than a year were much more likely to hold this view that those who had been employed for less than a year (73 percent vs. 55 percent) (Vacca, 2012). One third of those surveyed were not confident that their organizatio n would handle reports of corruption appropriately, with markedly less confidence in rural areas. While 84 percent believed that something could be done about corruption, only 26 percent believed that something would be done about it. Work environment retaliations happened against some 66% of the individuals who formally reported negligence. Both official and informal retaliations were analyzed (Vaughn, 2015). These generally happen in the private area. Official responses rebuff the informant for standing up. They are hidden behind approach and methodology, generally to maintain a strategic distance from cases of exploitation, and incorporate formal censure, corrective exchange, referral to a specialist or instructor, and poor execution audits (Von Solms Van Niekerk, 2013). An extensive variety of lesser strategies incorporate block of the examination, withdrawal of key assets, being kept oblivious, being antagonistically reported over different matters, and the connection of unfriendly staff record notes. Conclusion From the essay, it is clear there are deep lying effects of whistle blowing in offices that may affect the careers of both the informant as well as the wrong doer. Hence, whistle blowing should be banned in order to maintain integrity and an ethical environment within the office premises. Another issue is that, some whistle blowers complain about someone ever they he has not done anything wrong. To catch and punish the wrong doers, the higher officials should use computerized monitoring techniques and permanently ban whistle blowing system. 2. Responsibilities of ACS Professional Members Introduction ACS has some fixed guidelines regarding the professionalism policies and responsibilities. Following these guidelines, there are some specific responsibilities of the professionals (ACS Code of Professional Conduct Professional Standards Board Australian Computer Society, 2016). In this essay, the implications of special responsibilities of professional members of ACS from the practitioner point of view have been discussed. Responsibilities of ACS Professional Members ACS's objective of the proposed system is to encourage the configuration of degree projects that deliver graduates with the aptitudes required for characterized ICT parts. The level of self-governance and obligation at which the ability is honed ought to likewise be set up. On a very basic level, these aptitudes require the utilization of hidden learning that is both wide and profound, and must incorporate both specialized and expert information regions. The guidelines for the professionalism in ACS are as follows: Recognize potential ICT parts that could be embraced by alumni of a given system of study. These parts may be bland, such that all alumni from a specific degree system would be qualified to attempt a scope of graduate parts inside a given ICT discipline (Yang, Shieh Tzeng, 2013). Notwithstanding, a project may to place more accentuation on specific parts inside that teach. This may be on account of an organization has perceived skill in a given territory or in light of the fact that there are local business open doors for graduates with a specific core interest. Distinguish the aptitudes required by experts in a given ICT profession part. Recognize the kind of assignments that an expert working in given ICT profession role(s) would typically be equipped for performing (Yusri Goodwin, 2013). These might be the kind of errands that are regularly required to work in industry, or they might be the sort of assignments all the more every now and again connected with an exploration centered vocation way. Recognize the level of self-sufficiency and obligation created. It ought to be conceivable to show that alumni of a system work at sensible levels of self-rule and obligation as characterized by SFIA (Broadbent Papadopoulos, 2013). Distinguish the ICT Roleà ¢Ã¢â€š ¬Ã‚ Specific Knowledge required to rehearse the aptitudes. Where conceivable, globally perceived educational module and collections of learning ought to be utilized to help with distinguishing Roleà ¢Ã¢â€š ¬Ã‚ Specific Knowledge (Burmeister et al., 2014). For ICT zones that do not have a formal educational program or group of learning, supporting information ought to be recognized utilizing other fitting sources as a part of counsel with the system's Industry Advisory Board (Van den Hoven, Van de Poel Vermaas, 2014). It ought to be conceivable to show that understudies gain learning to an appropriate profundity and broadness. Recognize Complementary Knowledge that backings the aptitude set or that expands understudy employability. As softwareà ¢Ã¢â€š ¬Ã‚ based items or administrations are normally offered in conjunction with a business, numerous ICT profession parts will require information of business capacities and procedures (Ahmad, Maynard Park, 2014). Moreover, vocation prospects may be upgraded from locally critical correlative controls. For instance, learning of flying may be valuable in locales where aviation associations are pervasive. Plan a course structure that joins ICT Role Specific Knowledge with the Core Body of Knowledge and other Complementary Knowledge as a feature of an all encompassing project of study (Broadbent Papadopoulos, 2013). For instance, a course structure ought to framework propelled learning on top of programming basics and task administration themes from the ICT Knowledge Area of the CBOK. Gather relics to show that abilities have been produced by understudies to a fitting level. This for the most part requires that a delegate test of understudy work be gathered to show that abilities have been produced to a fitting level (Yang, Shieh Tzeng, 2013). Tests will be made accessible to accreditation boards for review. Ancient rarities delivered by understudies in conjunction with a capstone task are a decent wellspring of material for showing the aptitudes accomplished by understudies. The issue of "professionalism" is vital and wideà ¢Ã¢â€š ¬Ã‚ ranging. Different bodies have given inà ¢Ã¢â€š ¬Ã‚  profundity treatment of the issue and this report ought to be perused against that foundation. For instance, CC2001 has a section on "Expert Practice" (Ch 10, pp. 55à ¢Ã¢â€š ¬Ã‚ 61), which is valuable (Yusri Goodwin, 2013). The IP3 Taskforce is as of now concentrating on the issue with regards to proficient accreditation. The past ACS CBOK determined the necessities for Ethics/Social Implications/Professional Practice and Interpersonal Communications (Yang, Shieh Tzeng, 2013). The SFIA in its Levels of Autonomy and Responsibility Axis notice degrees of self-sufficiency, impact and multifaceted nature, and "Business Skills" including information of measures, critical thinking, correspondence, arranging and booking, quality, wellbeing and security, obtaining new learning, and energy about industry exercises and authoritative connections (Slade Prinsloo, 2013). It i s comprehended that Professional Knowledge themes should be tended to at numerous levels in various phases of expert advancement. The very way of expert work implies that some learning and abilities are best created through experience and that comprehension of complex issues, for example, morals develops with development. In this manner, the objectives for creating proficient information/aptitudes will be diverse at entryà ¢Ã¢â€š ¬Ã‚ level (graduate) than at full proficient level (a confirmation program) (Skues Cunningham, 2013). The themes for the Professional Knowledge Areas were created by mapping shared characteristics over the diverse disciplinary educational programs determinations. Experts ought to have some information of where and when their order started and how it has advanced, notwithstanding comprehension of continuous issues in the control. A comprehension is required of how to create or get programming (data) frameworks that fulfill the prerequisites of clients and clients (Siponen, Mahmood Pahnila, 2014). All periods of the lifecycle of a data framework ought to be comprehended including: prerequisite examination (frameworks investigation) and determination, outline, development, testing and operation and support. There ought to likewise be learning of procedures and procedures for creating frameworks. Wording for this region fluctuates from 'frameworks advancement' in Information Systems to 'programming designing' in Software Engineering and Computer Science, to 'frameworks obtaining and reconciliation' in Information Technology (Siponen Vance, 2014). The component that recognizes this range from "writing computer programs" is that frameworks advancement/programming building learning is connected to bigger programming frameworks, where nobody individual has complete information of the entire framework. Obviously, a significant number of the standards required in creating bigger programming frameworks likewise apply to littler bits of prog ramming (projects). Conclusion From the essay, the responsibilities of ACS professionals are clear. ACS has designed a number of criteria to appoint their professionals. The level of self-governance and obligation at which the ability is honed ought to likewise be set up. On a very basic level, these aptitudes require the utilization of hidden learning that is both wide and profound, and must incorporate both specialized and expert information regions (Prestridge, 2012). The themes for the Professional Knowledge Areas were created by mapping shared characteristics over the diverse disciplinary educational programs determinations. Experts ought to have some information of where and when their order started and how it has advanced, notwithstanding comprehension of continuous issues in the control. A comprehension is required of how to create or get programming (data) frameworks that fulfill the prerequisites of clients and clients. 3. Privacy in Information and Communication Technology Introduction Information and Communication Technology is widely used in business and commercial organizations for enhancing the services as well as organizational structure (Disterer, 2013). Information and Communication Technology (ICT in short) involves increased use of computer systems and other related technologies in the business procedures like accounting, finances, maintenance of financial and operational reports and others. Moreover, ICT technology is also used for the storage of companys files and business strategies in a virtual storage interface. However, there are threats to ICT systems (Hansson, 2013). The main threats are breach of privacy of the confidential documents and unethical cyber attacks. Hence, maintenance of privacy is needed in any organization that has implemented ICT. Privacy in Information and Communication Technology Reasons of facing privacy issues Since ICT involves enhanced use of the computer systems as well as internet networks, threats regarding maintenance of privacy arise frequently. The main issues regarding privacy of the companies that have implemented ICT are as follows: Internal System Malwares In spite of the fact that this is not a part of the major threats expected by the organizations, despite everything it represents a threat to the organizations document storage framework operations (Hu et al., 2012). Internal system malwares are produced from corrupt files or programming projects and they may totally close down the tainted framework . In the event that the frameworks of the organization close down because of malwares, the organization would lose huge amount of data and basic documents. External Malwares - However, the malware talked about above is just a simple kind of malware. There are much more unsafe malwares like virus attacks, Trojan horses, spywares and others. These malwares mostly go into the system from outside sources (Ifinedo, 2012). Case in point, some messages go to the system inbox with data about some crazy offers and a link for a website. The minute the client taps on the connection, the malignant infection associated with the connection goes into the framework taints it. Capable virus attacks like Trojan horse can totally obliterate a framework alongside every other framework associated with the same network. Now and again, there are virus attacks that are made by some unknown identities (Kolkowska Dhillon, 2013). They utilize the virus attacks for hacking into different frameworks for the sole reason for pulverization. Again, there are spywares that are utilized to screen the exercises done inside a framework. Packet Sniffers These are programming tools that are for the most part utilized by associations to screen the internal operations in their own particular systems and monitor malware operations (Laszka, Felegyhazi Buttyan, 2015). Be that as it may, there are some outsider associations that misuse these tools for checking framework exercises of other organizations. This is a sort of breach of security that debilitates to release secret data of the business associations. Unauthorized Access This is done by unethical hackers or third party members keeping in mind the end goal to get to data of an organization without the knowledge of the organization authority (Lee, Geng Raghunathan, 2013). This should likewise be possible by the internal representatives of the organization. This episode happens when an ordinary worker gets to data of the organization that is limited and not took into consideration representative access. The programmers and outsider staff however utilize spywares to screen the utilization of the id and pass code designs in the framework and afterward they utilize them for unauthorized access (Lowry, Posey, Bennett Roberts, 2015). There have been numerous situations where these unauthorized personnel gets to went unnoticed that eventually brought about loss of numerous documents and records of the organization. Nevertheless, because of use of framework alarms, numerous instances of unapproved access have been gotten before any loss of reports or data. Loss of Device To explain this case, an example is to be taken. Let an employee of a company takes his working computer for working at home. Now, on his way back home, he leaves the system in the cab or the system is stolen (Pegrum, Oakley Faulkner, 2013). After this, the system reaches the hands of a hacker and he uses every information stored in it to access the companys systems and extracts important documents. This will cause big losses for the company if suitable steps are not taken immediately. No Knowledge of Network Security among the Company Employees Sometimes, the employees of the company do not have sufficient knowledge regarding network security applications or what to do in case of a breach of security attack (Peltier, 2013). Due to this, the suitable actions are not taken in time, helping the attackers access critical information easily. Objections related to the positions There are several objections related to this situation. Authors have argued that these situations would not have been raised if the organizations increased or sufficiently implemented network securities in their systems. Most of the privacy threats in ICT systems occur due to insufficient or poor security measures (Posey, Roberts, Lowry Hightower, 2014). Moreover, some are even caused by internal employees of the company who access confidential files of the company without authorization. Hence, the companies must reinforce privacy security as well as monitoring systems in order to catch wrong doers easily. Conclusion From the essay, it is clear that maintenance of privacy is important for maintaining business of an ICT implemented organization. . Information and Communication Technology (ICT in short) involves increased use of computer systems and other related technologies in the business procedures like accounting, finances, maintenance of financial and operational reports and others. Since ICT involves enhanced use of the computer systems as well as internet networks, threats regarding maintenance of privacy arise frequently. References ACS Code of Professional Conduct Professional Standards Board Australian Computer Society. Ahmad, A., Maynard, S. B., Park, S. (2014). Information security strategies: towards an organizational multi-strategy perspective.Journal of Intelligent Manufacturing,25(2), 357-370. Albugarni, S. and Ahmed, V., 2015. 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H., Huang, Z. D. (2012). Key information technology and management issues 20112012: an international study.Journal of Information Technology,27(3), 198-212. Marchewka, J. T. (2014).Information technology project management. John Wiley Sons. Nathan, G. (2015). Innovation process and ethics in technology: an approach to ethical (responsible) innovation governance.Journal on Chain and Network Science,15(2), 119-134. Pegrum, M., Oakley, G. and Faulkner, R., 2013. Schools going mobile: A study of the adoption of mobile handheld technologies in Western Australian independent schools.Australasian Journal of Educational Technology,29(1), pp.66-81. Peltier, T. R. (2013).Information security fundamentals. CRC Press. Poole, B. J., Sky-McIlvain, E. (2014). Education for an information age. Posey, C., Roberts, T. L., Lowry, P. B., Hightower, R. T. (2014). 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How is resistance affected by changing the length of a piece of nichrome wire in a simple circuit Essay Example

How is resistance affected by changing the length of a piece of nichrome wire in a simple circuit Essay Problem: I have been asked to investigate how resistance is affected by changing the length of nichrome in a simple circuit.What is resistance?Resistance is anything that slows down the flow of electrons/current. This is called a resistor. Resistors are either small pieces of material or long coiled pieces of wire that dont conduct electricity very well. For example, bulbs do not conduct electricity as well as a piece of copper mainly because copper contains loads of free electrons.Examples of resistors:* Hairdryer* Toaster* Filament in a bulbThe filament in a bulb is a great example of a resistor. It is a very thin wire so it slows down the flow of electrons and takes energy away from the electrons as they struggle to get through it. The energy is then changed to heat and light.Current:The flow of electrons in a circuit is called the CURRENT. Current is measured using an ammeter. Current is measured in units called AMPS.Voltage:Voltage is the amount of energy that the electrons have . It is measured using a voltmeter. Voltage is measured in units called VOLTS.In order for me to try and prove my original question I am going to have to carry out a number of experiments. In these experiments I am going to have to record the volts, and amps in order for me to be able to calculate the resistance when the length of the nichrome wire changes.When carrying out this experiment there is a number of factors that could affect the investigation. These include:* The length of the wire* The voltage passing through the circuit* Thickness of wire* Type of wireThe length of the wireAs the length of the wire plays a major part in our investigation we must make sure that we measure the wire very accurately in order to achieve accurate and reliable results.The voltage passing through the circuitWe must make sure that the voltage been passed through the circuit stays the same. Otherwise our results will not be accurate or reliable.Thickness of wireAs the resistance also plays a majo r part in the investigation I must make sure that the thickness of the wire remain the same throughout the investigation, otherwise our results will not be correct or accurate.Type of wireWe must make sure that we only use nichrome wire as any other type of wire will display different results due to its electronic arrangement.In my investigation I am going to keep the thickness of the wire, type of wire and the voltage passing through the circuit the same. The only factor I will be changing is the length of the wire in order to try and get an answer to my original question.Practical Procedure:Prediction: I predict that if the length of the wire is longer the resistance will be a lot greater as the electrons have a lot further to travel.

Belleau wood essays

Belleau wood essays The battle of Belleau Wood, June 1-26 of 1918, was fought five miles immediately northwest of the town of Chateau-Thierry on the River Marne, The Aisne-Marne Sector. Belleau Wood was approximately a mile in length and of irregular shape. It was mostly heavily wooded, cut by a deep ravine on the southern section, and also huge boulders scattered the area. Marines fought one of their greatest battles in history at Belleau Wood. The Marines helped to crush a German offensive that threatened Paris. The three-week long battle was not a masterminds work. Rather, it was a confused mess; often enough the soldiers didnt know where they, the enemy, or the front line was located on that one mile-square dark, bloody forest. This made it almost impossible to communicate on accounts of location and progress during the actions. Prisoners were numbered into the hundreds. One day, after an attack, the prisoner count grew by more than 300. There had been 1200 Germans in the woods that day, and with the exception of those prisoners, nearly all the rest were slain by the marines. This shows the intensity of which the Americans fought. The prisoners reported that they were glad to have a chance to surrender, seeing as though the artillery fire for three days had cut off their food and other supplies. The American attack was a furious one in which the Germans were rather impressed. The battle of Belleau Wood was the first battle in which the AEF (Allied Expeditionary Forces) recorded major casualties associated with the Great War. On this day, the Marine Brigade suffered the worse single-days casualties in the history of the United States Marine Corps, with the killing of 1087 men killed or wounded. The characterization of the USMCs determination and dedication impressed the adversaries and also proved to both the allies and adversaries that America was on the Western Front to fight. ...

The Most Effective Way of Looking at the Health Essay

The Most Effective Way of Looking at the Health - Essay Example Usually, the main causes of morbidity are the likely combinations of biochemical, genetic, psychological and environmental factors. Studies in England have shown that this type of illness is a disorder of the brain. A magnetic resonance imaging (MRI), a brain-imaging device had shown that the brains of people with depression are different than those without depression. How is the health care system of England delivered to its people? A health care system is a group of people organized to provide health care services to the people who are part of it. England’s National Health Service (NHS) is considered to be its publicly funded health care system (http://en.wikipedia.org/wiki/National_Health_Service).   It has also been a separate system from the other national health systems which are also operating in England. The NHS has been active in providing the people with healthcare including primary care, in-patient care, dentistry, and ophthalmology. On July 1948, the National Health Service Act 1946 became effective thus NHS has become an essential system for the majority of the British people. Although private care has still been operating in this country, paid by most private insurance companies, yet, a large percentage of the British population are mainly using the services the NHS provided. Because NHS is funded by England’s Department of Health, it further provides the majority of the necessary th ings concerning a patient’s health free of charge. People with permanent disabilities and low income are usually the ones who are provided with 100% services free of charge. Around 86% of prescriptions are covered free for the others.               Because of England’s NHS, the people will receive immediate attention where health is concerned. In fact, among all countries, British people can be considered lucky to receive such health care services for free. Although the death of a person is a natural event, the presence of health care services could be considered as one of the great things that could prevent a person’s untimely death. Regardless of whether a person may or may not die on an exact date, at least, there are people who are doing their best to save one’s life.  Ã‚  

People Organizations and Management Essay Example | Topics and Well Written Essays - 2000 words

People Organizations and Management - Essay Example 34). Alignment is described as the extent to which the human resource is linked to the business strategy. Capabilities include the talent, resources and information needed to implement the business strategy while engagement is defined as the extent to which people in an organization are committed to the organization. The productivity of the people in an organization and the quality of services offered to customers is influenced by various factors including the extent of team working, the organization’s structure and culture. Team working involves members of an organization working together and complementing each other to accomplish a particular task. When well conceived and implemented, team work offers various advantages which include enhanced creativity, increased employee satisfaction and it offers an opportunity for one to develop and acquire new skills (REF). Moreover, team working enhances the speed with which results are achieved and creates a support network for employ ees which they can rely on. Organizational design also determines the performance and productivity of the people in an organization. Generally, organizations may fall into either traditional or contemporary organization design. Under traditional organizational design, an organization may have simple structure or a functional structure while contemporary design may be team structure, matrix structure or project structure. Moreover, contemporary organizational design may be either lead to autonomous internal units, boundary-less organizations or learning organizations (Chatterjee, 2009, p. 150). Moreover, the human resource in all organizations is influence by the culture of that organization (Chatterjee, 2009, p. 147). Organizational culture is described as the pattern of norms, beliefs, values, attitudes and all those assumptions which may not have been articulated although they determine the way people behave and carry on their daily businesses. It is a system of informal rules gui ding people’s behaviour in an organization (Campeanu-Sonea et al., 2010, p. 328). This paper will make a comparison of teamwork, organizational design and culture of two different firms; Biogenia and Sleepeasy. Biogenia is an international company involved in the production of farming chemicals such as herbicides, fungicides and insecticides. It has an employee base of 15000 and operates in ten countries. On the other hand, Sleepeasy is a mid-market hotel chain targeting business travellers and tourists. Comparison of approaches to teamwork and team-working at Biogenia and Sleepeasy Given the many benefits accruing to an organization after fostering teamwork, firms always strive to enhance it. However, different organizations use on varied approaches to achieve teamwork as brought out in the case study the Biogenia and Sleepeasy. Grant et al. (2005. p.165) described six approaches that are used in teamwork. These approaches include shared plans, joint intentions, team plans, cooperative problem solving, collective intentions and cooperative subcontracting. In team plan approach; teamwork is based a group of people with an intention of performing a complex task while in joint intentions all the agents in a group have a specific intention which brings them to work together (Grant, et al., 2005, p. 168). In shared plan approach, agents are bound together by a set of intentions. Cooperative problem solving approach to team work is based on an intention to interconnecting different

The environmental entrepreneurship

The environmental entrepreneurship Introduction General Background Eco-preneurship refers to the environmental entrepreneurship who are poised towards coming up with sustainable business ideas (Libecap, 2009, p.34). EcoPreneurs indeed identify environmental challenges and therefore develop environmental products and services which will aid in solving both the business and environmental challenges by providing a sustainable solution. The main competitive advantage for Eco-preneurship businesses is the fact that they are able to utilize sustainable options in energy, waste management and other spectra of the ecosystem. Identification of the problem It is indeed emerging that most of the business ventures today are only interested in profits and growth without due concern on positive environmental impacts. It is this problem that gives rise to a set of sustainable business solutions provided by the EcoPreneurs. This paper shall seek to enlist the benefits of an eco-preneurship business venture. Statement of Purpose Eco-preneurship makes companies more environmentally responsible for their actions. In the recent past, there has been an outcry over the carbon emission menace. Several conferences have yielded the Kyoto Protocol which aims at making industries more environment sensitive in their production and general operation. There are various principles that hold eco-preneurship business ventures towards their sustainable business solutions. These principles are aimed at reducing energy waste as well as carbon emission. Businesses must recognize the fact that they owe a responsibility to the environment in which they operate in and must therefore develop sustainable solutions towards tackling problems related to waste management, energy needs, carbon emission, hazardous chemical usage as well as air pollution. What is imperative to consider is the fact that most of the eco-preneurship business ventures derive many benefits as a result of their eco-friendly business operations. This paper succinctly looks into the benefits that eco-preneurship has both to itself and the larger environment in which it operates. Main Body As earlier mentioned, eco-preneurship refers to environmental entrepreneurship. Eco-preneurship usually has a competitive advantage that they draw from being environmentally sensitive. Indeed, there are many benefits that the eco-preneurship business ventures enjoy. Isaak (1999, p.11) reveals that eco-preneurship enjoys a good reputation due to their initiatives towards maintaining a sustainable environment. This advantage gives eco-preneurships a competitive advantage against competitors hence these companies are able to amass a large number of customers, both existing and new customers. With the large number of customers among the eco-preneurship ventures, there will be increased sales volumes which translate into profitable business ventures. Eco-preneurship ensures that carbon emissions are reduced to negligible levels. Carbon emission is the main concern of every major company in the world today. Following the Kyoto Protocol, companies are required to be more vigilant in reducing their carbon emission. Since eco-preneurship is poised towards providing sustainable environmental solutions, reducing carbon emission has been at their foresight. Eco-preneurships therefore reduce carbon emission through reduced transportation. These companies are able to introduce environmentally sound solutions towards reducing transportation by utilizing the locally available material for their production lines hence reducing the need to purchase such items from a distant location. According to Schaltegger and Wagner (2006, p.47), the environment is full of eco-opportunities which would provide a just in time solution to the problems that the environment encounters on a day-to-day basis. For instance, considering McDonalds, a large hamburger restaurant found in most parts of the world; such a company could utilize locally supplied chicken and other food stuffs that it requires in its production process. Moreover, this will lead to the growth of small and medium enterprises in the countries of operation. Therefore, the eco-preneurship will be able to support sustainable environmentally sound solutions and effectively reducing the carbon emission menace. Alternatively, using solar or wind energy also helps reduce the carbon emission. Most eco-preneurships make use of these energy sources for the benefit of their environment. On the other hand, eco-preneurship is able to reduce the amount of hazardous chemical usage. Many eco-preneurships usually make use of chemicals that are not harmful to the environment. Chemical use within companies usually finds its way into the environment, either through seepage or intentionally (Folmer Tietenberg, 2005, p.114). These chemicals cause huge environmental damage to crops and living organisms. Eco-preneurships therefore reduce the amount of hazardous chemical usage. Chemicals that are used within the eco-preneurship business ventures should be tested and properly handled so as to reduce the chances of releasing them into the environment. Energy and resource efficiency is another benefit that the eco-preneurships have. Eco-preneurships usually seek sustainable energy use in order to ensure that there is limited energy loss during the production of goods and services. The preserved energy is thus channeled towards meeting other energy requirements within the venture. A good example of efficient energy use by the eco-preneurships, is the use of solar and wind powers. These are sustainable and renewable energy resources which are likely to lead to reduced carbon emission. These sources of energy are usually considered to be clean. The advantage of this is that, the eco-preneurship will incur fewer costs in their energy use since they will have depended on sustainable and renewable energy sources. Saving is a major advantage and benefit that eco-preneurships derive from their sustainable environmental solutions and should therefore uphold these values (Isaak, 1998, p.16). In addition, eco-preneurship ensures that there is an effective waste management system in place so that any wastes that emanate from the business venture is indeed managed properly, hence reducing the amount of environmental pollution. Industrial waste is a headache to most of the businesses. Eco-preneurship therefore provides a sustainable solution towards this dilemma. As such, eco-preneurships are largely competitive due to the fact that they introduce sustainable waste management systems which effectively deal with the environmental challenges pertaining to waste management (Schaper, 2005, p.63). An example of a waste management system that the eco-preneurship puts in place is found in the sugarcane factories. The bargase which is the waste obtained from crushing the sugarcane is used to produce energy. The bargase is burned in chambers that produce energy that is later channeled towards turning turbines. The turbines produce electricity cheaply for use within the company. Some of the sugarcane waste is also decomposed and used as manure by the farmers. Hence, there is limited waste in eco-preneurship. Both solid and liquid wastes are effectively managed in the eco-preneurships. There is a well managed system that ensures that solid wastes are treated first before being released into the environment. Hence, eco-preneurships are environmentally sensitive thus garnering support for such companies among world leaders. Eco-preneurship makes efficient use of water resources. Water is increasingly becoming scarce in the dynamic weather climate that we continue to experience. Therefore, this calls for efficient use of water. Eco-preneurships are beneficial since they put in place systems that ensure that there is efficient use of water resources. For example, in the sugarcane factory, water that is used to clean the factory is channeled towards irrigating the crops hence ensuring limited water wastage. In addition, eco-preneurships ensure that there is less air pollution. This is because of the sustainable and renewable energy that the companies use. For instance, solar and wind power are clean energy sources thus less air pollution to the environment. This is beneficial to the eco-preneurships since they are likely to gain international recognition that will boost their image internationally hence the company will witness an increase in customer volumes (Libecap, 2009, p.28). The large pool of customers will reciprocate to high sales volume and therefore more profitability for the eco-preneurships. Eco-preneurships are socially responsible since they promote sustainable environmental solutions and as such are revered as being socially sensitive. The eco-preneurships through their environmental awareness creation are likely to increase opportunities that are available for the employment of various personnel. These personnel will be deployed in the environment department so as to support the core values of the eco-preneurships. Folmer and Tietenberg (2005, p.34) argue that the alternative use of energy solutions is likely to save the company financial resources that will be used in employing more staff to ensure a sustainable business environment. Many times, the Eco-preneurships will be concerned with finding better ways of managing the environment and thus the need for more innovation which can only be realized through injecting new human resources into their systems. Conclusion Eco-preneurships are therefore bent towards ensuring a clean environment for the benefit of the community within. The environmental entrepreneurs also help to reduce carbon emission through the use of renewable energy sources that emanate from solar and wind power. These energy sources therefore help to reduce the costs of production as well, hence leading to more profitability for the eco-preneurships. It is a known fact that eco-preneurships usually have the best waste management systems in place. As such, this helps to reduce pollution within the operating environment. Carbon emission remains the biggest challenge for most companies (Isaak, 1999, p.64). However, Eco-preneurships have been able to effectively reduce carbon emission through the use of locally available raw materials in their production process and thus less transportation. Therefore, eco-preneurships will have a good reputation and a competitive edge against the other business ventures; hence, this will lead to more customers and thus higher sales volumes. Profitability in this case will be inevitable. Companies should therefore be driven towards a sustainable environment so as to ensure that they are able to save costs as well as manage their wastes effectively. References Folmer, H., Tietenberg, T 2005, The international yearbook of environmental and resource economics 2005/2006: a survey of current issues, Edward Elgar: Washington. 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