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Essay Say No To Drugs!

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Best Resume Formats 47+ Free Samples, Examples, Format Download! A Resume Template is an extremely important document which is used in the case when a person or an Essay Say No To Drugs! applicant is applying for a job, a volunteership, an internship, an educational course or any other thing. The resume lists down the various details about the candidate such as his/her name, address, phone number, email address, academic details, work experience, skills and qualities etc. Unlock A Great Career Ahead With A Perfect Resume. Your resume is your primary representative in effects of shell, the career world. Whether you are about to kick-start your career fresh out of your grad or planning a job change, a resume is always needed when you are applying for employment. It’s the first thing that your prospective employer will see about you and hence your CV has this duty to present you in the best possible light. Essay To Drugs!! 44 Modern Resume Templates Bundle for $69. Stunning Resume Template Bundle for Job seekers $30. Modern Resume / CV Templates Bundle. Latest Chartered Accountant Resume Word Format Free Download.

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The chronological format will allow the Essay Say No, candidate to showcase his upward mobility in the career. It would be useful for specialist mid-level applicants. Lit Vedia! You must follow the chronological resume when. You have to portray a vertical progression in your career You more or less had a consistent career with no such big work-experience gaps in between You are planning a change of company but in similar trade. The functional resume format focuses mostly on Say No the skills of the applicant rather than his work experiences. Of Shell! Unlike the conventional chronological format, this one ignores when where the applicant performed or learned those skills. It’s the Essay Say No To Drugs!, fact that the candidate holds those skills relevant to the specific job opening, is 42 below vodka highlighted in Say No To Drugs!, the functional format. The functional format would be useful for you when- You need to create a Fresher Resume Format Templates with no previous work experience but when you are confident about your skills You have big gaps in let teenagers try adulthood, your career history You are looking forward to promote a particular skill set. As the name suggests, combination resume focuses on a fusion of the traditional chronological functional resumes. Such a resume would usually start with professional profile/summary of qualifications which will include your skills, abilities achievements that are pertinent to the specific job opening you are applying for- it’s for the functional side.

The introductory section would be followed by Essay To Drugs! job experience, education (B.E) additional related sections in the reverse chronological format. Such a resume would be great when- You are looking forward to highlight a well-developed relevant skill set You have mastered your art You are planning a switch to Essay Regulations, another industry. For example, let’s say you are working as an investment banker but you are really good at cartoons or conceptual sketching- such artistic skills would be a wealth for advertising industry in case you are planning to To Drugs!, turn your hobbies into your profession. Formatting a resume is no rocket science but you have to be really strategic with the overall planning. As mentioned earlier, the traditional chronological approach is relevant when you are proud of the upward mobility that you have attained in 42 below vodka, your career. If you are a person with huge or at least some professional experience in your industry- the Say No, chronological style would be the proper resume format for of shell, you. The best resume format for a functional resume strategically groups the To Drugs!, key skills abilities of the candidate in various categories to explain his eligibility expertise for some particular job. Financial Intermediaries Example! The skill-based focus will enable you to pull the prospective employer’s attention on Say No your strength which would in turn divert the focus from your absent or flawed employment record. For example, let’s say you are applying for the position of a sales manager in financial intermediaries, a MNC with an international market- and in such a case your functional resume would stress on categories with headings like “team building leadership expertise”, “fluency in foreign languages” etc. In some of cases, the functional resume is Essay Say No completely devoid of the TV Content Regulations, employment history. Even if it is mentioned, it appears at the very bottom of the Essay Say No To Drugs!, resume or in the next page to TV Content, de-stress on its importance.

When you are planning a combination resume , you have to commence with your key qualifications skills. Essay Say No! You can include your career objective, expertise, accomplishments pertinent training relevant to the job application here. The strategy here is to fill up 80-85% of your resume with your skills talents and the rest 15-20 percent would be about your career history. Unlike the functional resume, you cannot omit your career history here. 42 Below Vodka! Make sure it’s easy to Say No, read Use bullet points and adequate spacing- single spacing when you are writing about your skills under same category and double-spacing before the start of another category. Use contextual keywords relevant to child refugees, your job position industry. Use formal fonts and Say No, the font size should be 14 for headings and 12 for the rest. You must use strong verbs such as “managed”, “handled”, “led”, “administered”, “charted” etc.

Begin the resume with summary sentence so that the let teenagers, hiring manager can have a blue-print of Say No your skills abilities at example a glance. Include personal accomplishments if they are pertinent to the relevant job opening. Focus on quantifiable accomplishments include facts figures. No grammar mistake or typo error is allowed in your resume. Don’t use generic words like hardworking or confident- rather use “efficient at handling big teams for crucial projects”. Essay! Don’t use informal email ids in contact details. Don’t use chronological resume when you have big gaps in your career. Don’t include irrelevant personal hobbies. No lengthy resume. Don’t lie in your resume and be honest.

When you are looking for best resume format examples, we at are ready to shock, help you with your expert-designed resumes- whether you need a chronological one or a functional one or a combination resume. Essay To Drugs!! Ceative Resume Templates must be drafted using a formal format and a professional tone but it may not be possible for everyone to get it right. Thus one can make use of a resume format. 42 Below Vodka! A resume format is Essay a detailed layout and format of let teenagers try adulthood a resume which can be used by those who are confused about the format of such a formal document. A resume format is divided into Essay Say No, sections and categories in the exact same way as needed in let teenagers, a resume. It gives the users a reference point of view and Essay Say No To Drugs!, idea of about how a professional Resume Templates must look like. Resume formats may also be provided with the main headings like personal details, academic details, professional experience etc. for better use and reference of the users. Say No To Drugs!! What makes a resume format the best resume format is the manner in which it is drafted or framed and effects of shell, how much convenience it offers to Say No, the user. It must be time saving for financial example, the user to use and customize and should also be self-explanatory. The following are some of the contents of a resume format which truly make it ‘best’:

What is the format of a CV?(100 Words) When it comes to CV, it has to be professional. There are different types of Say No To Drugs! CV possible depending on the purpose of its use and the expectation of the targeted audiences. Similarly, different types of financial intermediaries CVs will have different formats. For example, CV for applying in an IT firm would be different from a CV to To Drugs!, apply for a marketing company. Instead of financial intermediaries taking the risk of designing CV format yourself, it is better to download for sample CV collection. Essay! For example, if you download marketing resume collection, you will get a lot of Marketing Resume Format Templates and you can choose the best one that appeals to you and 42 below vodka, fill in the details to Essay, send it out. What kind of Resume Should I use?(100 Words) Basically, there are four types of example resume available. They are chronological, functional, combinational and Essay Say No To Drugs!, targeted. Chronological resumes are most commonly used as it represents the data sequentially for the employers to find them easily at the very first glance.

In case you have some lapse in your work and study, then it is better to use a functional resume to cover it up skillfully. Combinational resume must be used when you are very experienced and your work history matters more than basic data. Targeted resumes are most effective and you need to spend more time preparing it. Download some Basic Resume Format Templates and some samples to make a perfect resume yourself. Which Format do Most Employers Prefer for Resumes? Depending on the job requirement, different employers prefer different resume formats. If the shock, job requirement is for freshers only, employers would like to Essay Say No, receive chronological resumes as the TV Content, data and information about the candidate would be sequentially and it would be easy to locate required information easily.

But in the case of hiring experienced professionals, employers prefer to have functional resumes where experience and To Drugs!, skills get the priority. But in general, employers prefer chronological resume format. Therefore, you need to download different formats like IT Resume Format Templates to apply in IT firm and let teenagers, then based on the job requirements, you have to form the resume that the employers would prefer the most. To write a resume, you have to collect all the Essay, required data and information about you in one place. Then you have to download some sample resumes and resume templates as per the purpose of the resume.

For example, if you are applying in an IT firm, you should download IT resumes or if you are applying for a post of HR, you should download HR Resume Format Templates. After downloading them, open them and start filling the try adulthood, details. If there are any unnecessary headings that do not match your profile, you have to omit and Essay To Drugs!, delete them. You should refer to sample resume for checking out intermediaries example, how exactly to fill the Essay To Drugs!, data and let teenagers, information to look impressive. what are two of the Essay, Most Popular Resume Formats. Out of the four different types of child refugees resumes we listed above, chronological and functional are the Say No, most popular resume formats. Chronological resume formats are popular among freshers or those who have light experience of a couple of years. On the other hand, functional resumes are popular among experienced professionals with at lit vedia least experience of working in two and more companies. Freshers can also use it in To Drugs!, case the candidate has diverse skills and of shell shock, has done many internships in the past. There are multiple formats available in these two categories and one should download freshers and Experienced Resume Format Templates to have different variations to choose from. A chronological resume is the most used resumes in the world.

In a chronological resume, everything is listed from the recent to Essay Say No To Drugs!, the earliest format. For example, in academic background, your university degree would come first, followed by the college degree and then at last school qualification. Similarly, in work experience, your recent work would be listed and in the end, you can have your internships. This is the most preferred Writer Resumes format by the employers as it is easy for them to get a snapshot of everything very quickly in their mind. There are various types of child refugees chronological formats available and you should download freshers resume format templates to get all the variations and choose the best.

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Conflits entre investisseurs et dirigeants Une analyse en termes de gouvernance cognitive. Sommaire des nouveaux numeros. Votre alerte a bien ete prise en compte. Vous recevrez un email a chaque nouvelle parution d'un numero de cette revue. Erreur lors de l'enregistrement de votre alerte. Vous avez deja enregistre cette alerte. Say No? Vous pouvez gerer vos alertes depuis le menu Mon Le capital investissement (CI) s’est considerablement developpe en France depuis une vingtaine d’annees, repondant aux besoins en fonds propres et quasi-fonds propres des PME.

Les capital investisseurs accompagnent ainsi l’entreprise, en qualite d’actionnaires, pendant une duree limitee (sept ans en moyenne). Essay About? Pour pallier l’asymetrie elevee entre dirigeants de PME non cotees et CI et reduire les risques, les investisseurs adoptent des mecanismes d’evaluation et de suivi specifiques, tout en apportant une assistance au dirigeant de maniere a favoriser la creation de valeur. Essay Say No? De leur implication active depend en effet la rentabilite de leur investissement in child refugees fine qui elle-meme depend uniquement de la valeur gagnee par l’entreprise entre l’entree dans le capital et la sortie. Say No To Drugs!? Apres avoir ete longtemps plus passifs que leurs homologues anglo-saxons, en raison de specificites culturelles et historiques (Lachmann, 1999; Stephany, 2001), les comportements des investisseurs francais ont change. Lit Vedia? Ils sont devenus plus vigilants et plus actifs, en raison notamment des crises qui ont marque le capital risque dans les annees 1990 et au debut des annees 2000 et qui ont affecte l’ensemble de la profession, obligeant a une remise en question des pratiques. To Drugs!? En outre, depuis une vingtaine d’annees, le paysage du CI a change : les acteurs de la premiere heure ont disparu, un CI regional s’est developpe et surtout le nombre d’investisseurs independants n’a cesse d’augmenter ces dernieres annees (AFIC, 2003). Try Adulthood? Les attentes en termes de retour sur investissement de ces acteurs, plus importantes qu’auparavant, les incitent a des comportements plus « hands-on » voire « hands-in » selon le jargon de la profession. Cette relation interorganisationnelle de controle et d’assistance etroite n’est pas exempte de contraintes pour le dirigeant. Say No? La problematique des dirigeants d’entreprise qui envisagent le recours a un financement par capital investissement est celle de la dependance strategique des ressources mise en evidence par Pfeffer et Salancik (1978). Of Shell Shock? La these du controle externe de ces auteurs met l’accent sur le role fondamental de l’environnement en tant qu’ensemble multiple au sein duquel l’entreprise peut aller puiser les ressources dont elle a besoin.

Sa survie depend alors de sa capacite a satisfaire les autres organisations avec lesquelles elle est en relation, notamment pour parvenir a se procurer les ressources necessaires. To Drugs!? Pour les dirigeants qui envisagent le recours a un financement par capital investissement, la question strategique est donc de savoir quels sont les apports mais aussi les contraintes que represente la relation avec le(s) investisseur(s). Child Refugees? Cette problematique renvoie a la thematique generale de la gouvernance d’entreprise, definie par Charreaux (1997, p. Say No? 1) comme « l’ensemble des mecanismes organisationnels qui ont pour effet de delimiter les pouvoirs et d’influencer les decisions des dirigeants, autrement dit qui « gouvernent » leur conduite et definissent leur espace discretionnaire ». Child Refugees? Il existe plusieurs approches de la gouvernance. Essay Say No To Drugs!? Celle qui a connu les developpements les plus importants privilegie la dimension disciplinaire du role des actionnaires et se focalise sur l’etude de la repartition des richesses creees. Child Refugees? La litterature sur les relations entre CI et dirigeants est dominee par cette approche, ce qui se justifie en partie par l’asymetrie d’information particulierement elevee. Say No To Drugs!? Or cette approche juridico-financiere presente un certain nombre de limites. About Regulations? D’une part, le comportement du dirigeant, face au controle de l’actionnaire, est largement occulte. Essay? D’autre part, elle ignore le role de l’actionnaire en termes de creation de valeur.

L’approche cognitive de la gouvernance (Charreaux, 2003) considere le systeme de gouvernance comme vecteur des echanges et de la construction de connaissances. Essay About TV Content Regulations? Celui-ci doit faciliter la coordination et permettre de reduire les couts des conflits cognitifs, distincts des conflits d’interets tels que les etudie l’approche actionnariale classique. La premiere partie de ce papier est consacree a une revue de la litterature emergente sur la collaboration productive entre CI et dirigeant qui considere quasi exclusivement les apports des CI et leurs contributions a la creation de valeur mais qui ignore largement les limites de cette collaboration et la notion de conflits cognitifs [1] [1] Les travaux de Korsgaard et al. To Drugs!? (1995), Sapienza et. Example? . Essay Say No To Drugs!? Ce constat nous conduit a proposer une etude plus globale de la gouvernance cognitive qui integre l’analyse de ces conflits cognitifs – au-dela des conflits d’interets stricto sensu tels que les envisage l’approche classique de la gouvernance –, de leurs consequences en termes de cooperation et des mecanismes de gouvernance qui permettent leur resolution. Child Refugees? Pour ce faire, une demarche qualitative est apparue adaptee et originale dans la mesure ou la majorite des etudes sur la question sont de nature quantitative. Essay Say No To Drugs!? Les resultats de l’etude des entretiens passes avec quatre CI et onze dirigeants d’entreprises de leurs portefeuilles de participations sont presentes dans une derniere partie. I. Example? – LAGOUVERNANCE COGNITIVE DES ENTREPRISES FINANCEES PAR CI : UNE LITTERATURE EMERGENTE. Les theories cognitives de la gouvernance considerent que l’enjeu de la gouvernance depasse la dimension disciplinaire et qu’il se trouve dans la creation meme de valeur.

Ainsi les recents travaux developpent le role cognitif de l’actionnaire comme apporteur de ressources cognitives (Charreaux, 2002a, 2002b, 2003) et porteur d’une vision strategique (Martinet, 2002). Essay Say No To Drugs!? En particulier, la relation etroite et personnelle entre le capital investisseur et le dirigeant semble favorable a un echange et une participation conjointe a l’elaboration de la strategie, ce qui est peut-etre plus difficile dans la situation de firmes manageriales dans lesquelles les actionnaires sont nombreux et lointains. Lit Vedia? Apres avoir considere de maniere generale cette logique de cooperation entre actionnaire et dirigeant, une revue de la litterature emergente presentera succinctement les dimensions de l’apport du CI en ressources cognitives et sa contribution a la creation de valeur. Essay? En se focalisant ainsi sur les dimensions de l’apport des investisseurs en ressources cognitives et leur contribution a la creation de valeur, la litterature sur la gouvernance cognitive des entreprises financees par CI presente le biais d’ecarter de l’analyse les limites de la collaboration productive et, en particulier, l’existence de conflits cognitifs pourtant bien presents dans les theories cognitives de la gouvernance (Charreaux, 2002b). Financial Intermediaries? Le dernier point precise cette notion de conflit sociocognitif. 1. Essay Say No To Drugs!? La collaboration productive entre l’actionnaire et le dirigeant. Dans une perspective cognitive, le gouvernement d’entreprise est « l’ensemble des mecanismes permettant d’avoir le meilleur potentiel de creation de valeur par l’apprentissage et l’innovation » (Charreaux, 2003, p. About Regulations? 638).

Tandis que les theories juridicofinancieres conferent a la firme un role essentiellement disciplinaire, l’approche cognitive considere la firme comme un processeur et un repertoire de connaissances. To Drugs!? Elle s’inscrit dans une logique procedurale et non plus substantive, c’est-a-dire qu’elle s’interesse aux processus qui menent a la creation de valeur, non plus exclusivement a la repartition de la valeur creee (Williamson, 1999). Of Shell Shock? Dans les interactions entre l’actionnaire et le dirigeant se forment les decisions et se jouent la construction des connaissances ainsi que l’evolution des schemas mentaux. Essay To Drugs!? L’enjeu de la gouvernance cognitive est alors l’echange et la creation de ressources cognitives, ensemble d’informations, de connaissances, de capacites theoriques et pratiques, susceptibles de procurer au decideur et a l’entreprise un avantage concurrentiel durable et par consequent de creer de la valeur(a partir de Hoarau et Teller, 2001). TV Content? Il s’agit non seulement de cognitions creees au sein du groupe decisionnel considere et utilisees en interne, pour formuler la strategie et gerer l’entreprise, mais aussi de cognitions, informations, signaux, adresses par l’entreprise et son dirigeant a leur environnement, c’est-a-dire aux partenaires financiers, economiques, ainsi qu’aux salaries de l’entreprise. Say No To Drugs!? Desbrieres (2005) considere en particulier dans le cas de la relation capital investisseur-dirigeant que l’enjeu est la creation de connaissances a la base de l’innovation et de l’ensemble des opportunites d’investissement. Lit Vedia? L’investisseur developpe la capacite du dirigeant et de l’entreprise a detecter, voire imaginer et construire de nouvelles capacites d’investissement. Essay? Il doit par ailleurs proteger et meme valoriser la base de ressources cognitives de l’entreprise et du dirigeant (connaissances, competences, reputation, etc.). A la difference de l’approche contractuelle, c’est la connaissance, et non plus l’information, qui est l’enjeu de la relation CIdirigeant.

La connaissance se trouve en amont de l’information qui constitue un ensemble de donnees qui ont un sens qui depend lui-meme des modeles cognitifs, des schemas d’interpretation individuels (Reix, 2004). Essay TV Content? A son tour, l’information peut modifier la connaissance et amener les schemas cognitifs de l’individu a evoluer et a s’adapter au travers d’un processus d’apprentissage. Essay To Drugs!? Ceci conduit les tenants de l’approche cognitive a considerer que le veritable role de la gouvernance est « la coordination qualitative, l’alignement des schemas cognitifs et des modeles d’anticipation » (Charreaux, 2003, p. Lit Vedia? 633). 2. Say No? Un apport du CI en ressources cognitives et une contribution a la creation de valeur. A la suite des travaux precurseurs de Mac-Millan et al . Of Shell? (1988) et Sapienza et al . Essay? (1996), plusieurs etudes ont detaille les dimensions de l’intervention des CI, audela de l’aspect disciplinaire. Lit Vedia? Plus encore que sur le contenu, l’intervention productive des investisseurs correspond a une influence sur la maniere dont sont prises les decisions, sur la reflexion strategique, plus formalisee, systematique et reguliere (Sapienza et al ., 1994,1996; Stephany, 1994,1998). Essay Say No To Drugs!? A cote d’une influence sur la formation de la strategie, les CI peuvent intervenir dans l’organisation, selon une dimension plus operationnelle (Sapienza et al. 42 Below Vodka? , 1994), par l’embauche de cadres experimentes (Rosenstein et al ., 1993), l’appel a des conseils exterieurs ou encore par la mise en place d’un systeme d’information comptable et financier systematique (Stephany, 1998; Robbie, et al. Essay Say No To Drugs!? , 1997; Falconer et al. Financial Example? , 1995; Falconer et al. To Drugs!? , 1997; Mitchell et al. Child Refugees? , 1995). Say No? On observe aussi une influence des CI sur le contenu meme des choix strategiques de l’entreprise. Financial Intermediaries Example? Trehan (2000) ou encore Desbrieres et Schatt (2002) montrent que les CI encouragent la mise en place d’une strategie de croissance externe. Say No? Les investisseurs ont aussi une incidence sur la politique d’investissement de l’entreprise par leur implication dans l’evaluation et la decision (Desbrieres, 2001a, 2001b). Les competences des capital investisseurs peuvent s’averer plus limitees en ce qui concerne certaines questions strategiques necessitant une connaissance precise de l’environnement et du marche ou concernant des domaines de gestion autres que financiers (GRH, marketing, droit, etc.). About Regulations? Pour ces questions, l’apport du capital investisseur peut etre indirect et passer par l’intermediaire de societes de conseil.

Le CI introduit dans l’entreprise des conseils exterieurs non seulement durant la phase de negociation mais aussi apres l’octroi du financement, tout au long de la relation avec l’entreprise, pour apporter precisement une aide ponctuelle au dirigeant. Say No? Les travaux de Stephany (1994,1998) montrent que l’appel a des entreprises de conseil fait partie des changements apportes par l’arrivee du CI dans les entreprises. A cela s’ajoutent des apports en termes de reputation et d’image sur lesquels insistent Fried et Hisrich (1995). 42 Below Vodka? L’entreprise peut esperer beneficier d’une meilleure visibilite grace a la presence des capital investisseurs. Essay? La presence d’un investisseur dans le capital de l’entreprise est une garantie concernant la viabilite du projet et le potentiel de l’entreprise, qui peut tirer indirectement les benefices de ce capital reputation. Effects Of Shell Shock? Il s’agit en effet d’un signal pour les differents stakeholders (clients, fournisseurs, banques, etc.) qui, plus confiants, peuvent se montrer moins severes et assouplir les contraintes financieres qu’ils font peser sur l’entreprise. Say No? Ceci vaut en particulier pour les banques. Try Adulthood? Plusieurs etudes ont ainsi montre que la presence d’un CI permettait a l’entreprise de lever de nouvelles ressources auxquelles elle n’avait pas acces auparavant (Gorman et Sahlman, 1989; Barry et al. Say No To Drugs!? , 1990; Sapienza et al. Effects? , 1996; Fernandez et Martinez, 1999; Belze et Gauthier, 2000). Les resultats concernant les aspects et l’importance de l’intervention des capital investisseurs ne sont toutefois pas unanimes.

Ceci s’explique notamment par l’importance de nombreux facteurs de contingence (Sapienza, 1992; Sapienza et al. Essay To Drugs!? , 1994, 1996; Elango et al. 42 Below Vodka? , 1995; Desbrieres, 2005, etc.). Essay To Drugs!? L’apport en ressources cognitives serait d’autant plus important que l’entreprise se trouve a un stade de developpement peu avance, que les contacts entre dirigeant et investisseur sont frequents et informels et que l’entreprise est performante. Let Teenagers Try Adulthood? Il depend aussi du fait que le CI est majoritaire ou non au capital ou encore des caracteristiques de l’entrepreneur. Par ces apports strategiques et organisationnels, au-dela de l’apport financier lui-meme, les investisseurs contribueraient a la creation de valeur (Sapienza, 1992). Essay? Les investisseurs agissent en effet sur plusieurs leviers de creation de valeur que sont le developpement d’avantages concurrentiels et de ressources specifiques durables, les strategies de creation de valeur financiere et l’amelioration de la valeur percue (Stevenot, 2005). Intermediaries Example? Les enquetes d’opinions realisees par l’Association des investisseurs en capital(AFIC, 2004) proposent une hierarchisation de ce que les dirigeants estiment etre des facteurs de creation de valeur induits par l’operation de financement par CI. Essay? L’exigence et les conseils financiers des investisseurs ainsi que les conseils en termes de strategie apparaissent comme les deux principaux apports favorisant la creation de valeur. Child Refugees? Les dirigeants considerent egalement l’encouragement au developpement externe et l’apport de contacts commerciaux et de marches comme des facteurs importants.

L’etude francaise indique aussi une amelioration de la valeur percue de la societe induite par le financement par CI. Essay? Dans une perspective resolument cognitive, Wirtz (2003) propose une relecture du rachat de OM Scott par un CI en utilisant des arguments cognitifs pour expliquer l’accroissement des performances apres le LBO qui serait du d’une part, a la plus grande liberte d’action laissee au management notamment dans les choix d’investissement, et d’autre part, a l’impulsion par le CI d’une dynamique de recherche et d’apprentissage pour developper les competences manageriales. Il existe toutefois peu d’etudes qui mesurent de maniere precise et complete la valeur ajoutee par les capital investisseurs. 42 Below Vodka? En outre, la litterature indique des resultats contrastes a ce niveau, les indicateurs de mesure de la creation de valeur etant divers. To Drugs!? Plusieurs travaux mettent en evidence un lien entre presence d’un investisseur au capital et bonnes performances economiques et sociales de l’entreprise par rapport a la moyenne nationale (plus fortes croissances du chiffre d’affaires et des effectifs notamment). Let Teenagers Try Adulthood? En France, plusieurs etudes commanditees par l’AFIC et realisees par des cabinets d’audit (1998,2004) vont en ce sens et en concluent une influence positive des CI sur la creation de valeur. Say No To Drugs!? Il faut neanmoins etre prudent quant a l’interpretation de ces resultats. Child Refugees? En effet, si l’on ne peut contester au vu de ces derniers l’existence d’une correlation entre la presence d’un capital investisseur et une bonne performance de l’entreprise, on Essay Say No, peut se demander dans quelle mesure la premiere est cause ou consequence de la deuxieme : est-ce le CI qui a une influence sur la performance de l’entreprise ou le fort potentiel de croissance de l’entreprise au depart qui a amene les CI a retenir le dossier et a entrer dans son capital ? Les performances meilleures des entreprises financees par CI ne seraient alors qu’une preuve de la capacite des CI a bien evaluer les projets et a selectionner les bons dossiers. 3. 42 Below Vodka? La notion de conflit sociocognitif appliquee a la relation CI-dirigeant.

Meme si cet aspect est encore peu etudie en particulier concernant les relation CIdirigeant, les theories cognitives de la gouvernance accordent une attention particuliere aux conflits cognitifs et axiologiques (lies aux valeurs) (Charreaux, 2002b; Wirtz, 2002). Essay? Les conflits d’interets, tels que les reperent les theories actionnariales de la gouvernance, se retrouvent bien dans l’approche cognitive mais, dans cette perspective, ils relevent plus fondamentalement, en amont, d’une difference d’orientation cognitive ou axiologique. Effects Of Shell Shock? En outre, l’approche cognitive s’interesse aux enjeux de ces conflits davantage en termes de collaboration productive et de creation de valeur qu’en termes de repartition de la valeur. Les conflits cognitifs apparaissent dans les interactions sociales au sein du groupe decisionnel ici compose essentiellement du dirigeant et du(des) capital investisseur(s). Say No To Drugs!? Ces conflits sociocognitifs ont ete largement etudies en psychologie des interactions sociales (Moscovici et Doise, 1992; Sorsana, 1999). Intermediaries Example? D’apres ces travaux, le conflit sociocognitif nait quand plusieurs options ou idees incompatibles sont proposees au sein d’un groupe, en particulier en situations de decisions dediees a la formulation de choix.

Il depend par consequent de « la complexite sociocognitive » du groupe qui est elle-meme fonction de la differenciation des representations et des interpretations presentes dans le groupe, du nombre d’elements partages (Ginsberg, 1990). Rares sont les etudes qui s’interessent aux conflits durant la relation de financement par CI, au-dela des seuls conflits d’interets au moment de la sortie du CI (Stephany, 2003). Say No? Les travaux de Jog et al . Child Refugees? (1991) se distinguent a ce niveau. To Drugs!? En effet, parmi les principales sources de conflits entre investisseurs et dirigeants, les auteurs identifient d’une part, la strategie, le calendrier de la croissance (conflits sur les objectifs), d’autre part, les pratiques de management et la politique de financement (conflits sur les moyens). Financial Example? Cette etude montre par ailleurs que les conflits sur les objectifs strategiques et de croissance interviennent tout autant sinon plus dans les entreprises a des stades de developpement avances que dans les plus jeunes entreprises. Essay Say No To Drugs!? Au-dela des oppositions sur les objectifs et les moyens, la litterature sur les logiques d’acteurs et les jeux de pouvoir entre acteurs organisationnels ou interorganisationnels suggere une autre source possible de conflit, liee a la contestation de l’acquis et des territoires de pouvoir entre investisseur et dirigeant tout au long de la relation (French et Raven, 1959; Crozier, 1964; Raven et Kruglanski, 1970; Crozier et Friedberg, 1977 ; Mintzberg, 1986; Livian, 1987). Financial Intermediaries Example? Comme le laisse entendre le titre de l’ouvrage de Delecourt (1993), Ouvrir son capital et garder le pouvoir , le pouvoir, objectif ou moyen de realiser ses buts, est une preoccupation importante des dirigeants qui s’engagent dans une operation de financement par CI.

D’une maniere generale, l’importance primordiale qu’attachent les dirigeants de PME a leur autonomie a deja ete mis en avant par de nombreuses etudes (en France, Ducheneaut, 1995,1996), en particulier pour les dirigeants createurs ou repreneurs d’entreprise (AFPLANE, 1991). De maniere a favoriser la collaboration productive, le systeme de gouvernement a pour mission de reduire les conflits cognitifs et de valeurs. Essay Say No? Toutefois, il est a noter que les conflits sociocognitifs ne sont pas necessairement nefastes, dans la mesure ou l’existence de differents schemas cognitifs sont sources d’innovation et que la construction d’idees nouvelles peut precisement emerger de ces differences de vue. Lit Vedia? Une these initiee par Doise et Mugny (1981) en psychologie sociale soutient en effet que la confrontation de differents points de vue favorise le declenchement du progres cognitif chez les participants a l’interaction. Essay To Drugs!? Par consequent, il ne s’agit pas tant de chercher a supprimer les conflits cognitifs que de faciliter la coordination et l’echange entre les differents schemas cognitifs. Effects? (Charreaux, 2002b). La vision positive et consensuelle de la cooperation entre CI et dirigeant qui domine la litterature, apprehendee essentiellement a partir d’etudes quantitatives, doit etre nuancee et completee par l’etude des limites de la collaboration et des conflits. Say No? La demarche qualitative d’etudes de cas proposee ici permet cela. II. About TV Content Regulations? – OBJECTIFS ET MODALITES DE LADEMARCHE EMPIRIQUE. To Drugs!? LE CHOIX D’UNE ETUDE DE CAS. La demarche empirique de ce travail consiste en une etude de cas. Let Teenagers? Cette methode presente trois specificites qui conviennent a l’objectif de notre recherche (Yin, 1990) : 1) la visee de l’etude de cas est comprehensive et contextualisee; 2) l’analyse des processus sous-tend cette demarche de recherche; 3) enfin, la description approfondie de la situation, qui repose sur la multiplicite des donnees observees, le decryptage de dimensions ou de variables pertinentes, peut amener le chercheur a reconnaitre des regularites dans le processus et identifier des sequences ou des phases qui le caracterisent.

En particulier, nous avons retenu une etude de cas multisite pour laquelle le choix de l’echantillon requiert une attention particuliere (Huberman, Miles, 1996; Stake, 1995). Say No? Une methode de recueil des donnees systematique a ete suivie. 1. Lit Vedia? Le choix des cas et des acteurs interroges. L’etude de cas multisite implique la constitution d’un echantillon theorique. To Drugs!? Les cas sont choisis pour des motifs non pas statistiques mais theoriques, en fonction de plusieurs criteres d’echantillonnage (Hlady et Rispal, 2002). Let Teenagers Try Adulthood? Le choix des societes de CI et des entreprises etudiees, qui a necessite une premiere phase exploratoire, s’est efforce de respecter ces criteres (tableau 1). Say No To Drugs!? En particulier, pour respecter les criteres de variete et d’equilibre, nous avons veille a choisir des organismes de capital investissement de types differents afin d’avoir une representation des « differentes familles » de capital investisseurs (Hugot, 2000). 42 Below Vodka? Parmi les investisseurs rencontres, deux sont des « regionaux » intervenant en minoritaires sur des operations moindres dans des entreprises en creation ou en phase de developpement; les deux autres sont des CI « nationaux » qui prennent des participations majoritaires dans des entreprises a des stades de developpement avances le plus souvent dans le cadre d’operations de LBO. Essay Say No To Drugs!? Ces derniers sont des investisseurs independants dont les actionnaires sont essentiellement des fonds anglosaxons. Effects? Elles sont nommees par la suite SCI3 et SCI4.

Une des societes de CI regionales est filiale d’une banque (SCI2); l’autre, largement financee par le conseil regional, est un organisme semi-public dont la mission est de favoriser le developpement economique local (SCI1). Un premier contact avec les directeurs de ces societes de CI a permis l’acces a des entreprises de leurs portefeuilles de participations. Say No? Les onze entreprises interrogees appartiennent au secteur industriel (ou services a l’industrie) et se trouvent a des stades de developpement plus ou moins avances (produit(s) commercialise(s), entreprise en croissance) afin de respecter une certaine homogeneite des cas. Effects Of Shell? Mais ces entreprises different par leur situation economique et financiere, la repartition du capital entre CI et dirigeant ainsi que par les profils et les experiences anterieures des dirigeants. Essay Say No To Drugs!? Elles ont toutes connu plusieurs experiences de capital investissement aux stades de developpement anterieurs ou d’autres actionnaires dans le capital (industriels par exemple).

Ceci permet au dirigeant une analyse plus generale et des comparaisons selon les investisseurs et les situations. 42 Below Vodka? Les caracteristiques des entreprises sont presentees de maniere synthetique dans le tableau 2. 2. Essay? Le recueil et le traitement des donnees. L’objectif de l’etude empirique etait de comprendre les logiques cognitives a l’?uvre dans la collaboration productive entre CI et dirigeant et d’identifier le cas echeant les limites de cette collaboration, les conflits et les modes de resolution trouves par les acteurs. 42 Below Vodka? Plusieurs questions ont structure notre approche du terrain et ont permis l’etablissement d’une grille d’entretiens semi-directifs.

Une premiere serie de questions portait sur les dimensions de la creation et l’echange en ressources cognitives des interactions entre CI et dirigeant selon les acteurs. To Drugs!? A partir de la, une deuxieme serie de questions s’interessait plus specifiquement aux limites de cette collaboration : Q1. Financial Intermediaries Example? Quels sont les elements perturbateurs de la cooperation et declencheurs des conflits ? Q2. Essay? Quelles sont les sources de conflits ? Q3. Of Shell? Quelles sont les consequences sur les attitudes et les comportements des acteurs ? Q4. Essay? Quelles sont les consequences sur la creation et l’echange de ressources cognitives ? Q5. Try Adulthood? Quels sont les mecanismes de resolution des conflits utilises par les acteurs ? Q6. To Drugs!? Dans quelle mesure sont-ils efficaces en termes de gouvernance cognitive ? Deux entretiens ont ete repetes au bout d’un an shock, et demi aupres des quatre directeurs de participations des societes de capital investissement citees precedemment et des onze dirigeants des entreprises appartenant a leurs portefeuilles de participations.

Les entretiens ont ete integralement retranscrits et ont fait l’objet, a l’aide d’une grille d’analyse thematique, d’une analyse thematique de contenu cas par cas puis transversale (Huberman et Miles, 1991; Thietart, 1999). Essay Say No? Une telle presentation thematique et transversale des resultats repond a l’objectif de l’etude de cas multisite qui est de decouvrir les aspects recurrents et de distinguer les elements de contingence entre les cas. Effects? Les verbatim retenus dans l’analyse qui suit illustrent les principaux resultats obtenus, lesquels sont developpes et justifies de maniere systematique dans la these de Stevenot (2005). III. Essay To Drugs!? – LES ENSEIGNEMENTS DE L’ETUDE DE CAS : LES LIMITES DE LA COLLABORATION PRODUCTIVE ET LES CONFLITS SOCIOCOGNITIFS ENTRE CI ET DIRIGEANT. Les entretiens rejoignent dans une certaine mesure les travaux existants en confirmant la participation des investisseurs a la reflexion strategique. Child Refugees? La principale influence des CI relevee consiste a impulser une dynamique a la reflexion strategique dans le sens d’une valorisation a court et moyen terme. Essay Say No? Les investisseurs apportent les occasions, les sujets et les rythmes non seulement a la reflexion mais aussi a l’action strategique, dans le sens d’une valorisation a court ou moyen terme. Effects Of Shell? Concernant la gestion de l’entreprise, l’assistance des investisseurs se limite largement, selon les acteurs, aux questions financieres.

La participation des CI au recrutement des principaux cadres et aux decisions concernant leur remuneration est souvent souhaitee par les investisseurs mais cette participation est surtout le fait des CI majoritaires. Essay Say No? En cas de difficultes, les investisseurs, nationaux surtout, peuvent faire pression a la reduction des effectifs (cas de Cable et Four). Les limites de l’intervention des CI s’expliquent d’une part, en raison d’un manque de competences specifiques, de disponibilite des investisseurs generalistes et de leur peur d’engager leur responsabilite, et d’autre part, par l’existence de reticences de la part des dirigeants et de conflits sociocognitifs qui entrainent des blocages dans l’echange. 1. 42 Below Vodka? Les elements perturbateurs et les sources des conflits cognitifs. L’analyse des entretiens revelent dans tous les cas etudies l’existence de tensions latentes qui se declarent en conflits, des lors que les resultats de l’entreprise se degradent et que la direction de l’entreprise ne satisfait plus l’investisseur. Say No To Drugs!? Le directeur de SCI2 explique ce changement dans les relations lie a la degradation des resultats : « La mauvaise surprise, c’est le dossier qui evolue mal en termes de situation financiere et on about TV Content, a tendance a considerer que c’est peut-et re lie a la gestion ou au fait que les rapports ne sont parfois pas tres bons, [et alors] les choses s’enveniment, cela fait boule de neige » (SCI2-E1) [2] [2] L’identifiant des verbatim des CI se compose de deux. Say No To Drugs!? . Child Refugees? Comme pour les dirigeants de Four et de Puce, le dirigeant de Cable temoigne de cette experience. Essay Say No? Tant que les resultats de l’entreprise etaient tres bons, les relations avec l’investisseur etaient excellentes. Child Refugees? L’element perturbateur a ete la degradation des performances de l’entreprise en 2003 : « Mais la depuis un an Say No, […] on financial example, est en difficulte parce qu’on est a 10 % en dessous du CAde l’annee derniere, – 20 % par rapport a notre propre budget. Essay Say No To Drugs!? Donc la les choses se gatent et nous avons des rapports tendus parce que la on let teenagers try adulthood, me donne des conseils et la je n’attends pas apres les conseils. Essay To Drugs!? » (DCable-E1) [3] [3] L’identifiant des verbatim des dirigeants se compose. Lit Vedia? . Essay Say No To Drugs!? L’investisseur devient plus present et exerce une certaine pression sur le dirigeant, mal vecue par celui-ci. Example? Il se produit alors un changement de gouvernance dans le sens d’un controle et d’une pression accrue qui correspond plus a la logique actionnariale qu’a la logique cognitive de la gouvernance : « Leur interet, c’est que dans leurs lignes de portefeuille, il n’y ait pas un clignotant rouge qui s’allume […].

La gouvernance d’entreprise la devient un peu differente. Essay To Drugs!? Il y a une pression qui s’exerce de tous les bords pour revenir dans les resultats. Example? » (DPapier-E1). To Drugs!? Les dirigeants de Puce, de Four et de Controle temoignent egalement d’un changement de gouvernance, qui s’est materialise, dans leurs cas, par le passage d’un systeme de conseil d’administration a un systeme de directoire et conseil de surveillance. Shock? Ceci permet aux actionnaires d’exercer un controle, parfois meme plus formel, tout en evitant d’engager leur responsabilite directe dans la decision strategique. Essay Say No? Pour le dirigeant de Puce, l’interet pour les investisseurs, qui ont impose ce systeme au dirigeant en 2000, est la : « Surveiller et avoir une vision claire de la gestion sans avoir de responsabilite. Child Refugees? » (DPuce-E1). L’analyse des representations des acteurs met en evidence des oppositions souvent fondamentales dans les logiques de conduite de l’entreprise. Say No To Drugs!? Pour tous les dirigeants rencontres, la logique industrielle a moyen ou long terme est opposee a la logique financiere a court terme. Let Teenagers? L’investisseur SCI1 temoigne d’une experience tres conflictuelle avec un dirigeant a ce propos : « j’ai dit au dirigeant qui voulait faire de la croissance externe de ne pas la faire.

Je lui ai dit : “non, tu aurais interet a habiller la m ariee” – vous voyez ce que je veux dire – a degager du resultat, a diminuer l’endettement et a presenter des ratios qui soient se xy, qui soient attirants, pour un acheteur. Say No? Mais le dirigeant m’a dit : “Non. Let Teenagers Try Adulthood? Moi, je suis un industriel. Essay? Toi, t’es un financier mais moi je suis un industriel”. TV Content? » (SCI1-E1) ; « C’est un conflit qui peut etre avec des mots durs. Say No To Drugs!? Je m’en souviens bien. Financial Intermediaries Example? » (SCI1-E2). Essay Say No To Drugs!? L’opposition entre logique de developpement industriel et logique financiere est plus forte avec les CI nationaux independants que les regionaux : « Il y a deux types d’investisseurs. Lit Vedia? Il y a les investisseurs de la region, qui eux sont plus interesses a developper l’entreprise […]. To Drugs!? Et puis vous avez au niveau national des capitaux risqueurs nationaux-internationaux, qui eux ne raisonnent pas comme ca, qui raisonnent uniquement argent. Child Refugees? » (DPuce-E2) ; « Je me sens plus proche de ceux qui ont une vision de developpement de l’entreprise ou ceux qui ont un passe d’entrepreneurs par rapport aux purs financiers ou la je dirais effectivement qu’on n’a pas du tout la meme “education” entre guillemets et on Say No To Drugs!, a du mal a se comprendre.

Une incomprehension favorise la mefiance. Essay? » (DPuce-E1). Essay Say No? Cette opposition est de principe et de valeur. Lit Vedia? Le dirigeant de Controle la qualifie « d’ethique » (DControle-E1). Essay Say No? Elle est exacerbee au moment de la sortie : « Nos cycles de participations ne sont pas cales sur des cycles de production, de vie de l’entreprise » (CASCI2-E2) ; « [La sortie] n’est pas forcement en adequation avec le projet. TV Content Regulations? La c’est un point faible de notre metier. Essay Say No To Drugs!? Il faut qu’on trouve une solution. Essay About? » (DSCI2-E2). To Drugs!? Les freins aux investissements a l’approche de la sortie et les pressions pour reduire les couts, renforcees en cas de degradation des resultats, sont juges excessifs par les dirigeants et penalisants pour le developpement de l’entreprise a long terme, ce qui parait paradoxal avec les discours ou les etudes qui concluent a une performance globale superieure des entreprises financees par CI. Effects? Ceci a d’ailleurs pose de reels problemes aux dirigeants de Location et Plastique lors de leurs premiers LBO : « Les gens attendent un retour tres rapide et on Essay To Drugs!, ne peut pas developper une entr eprise et donner un retour rapide aux action naires. Let Teenagers Try Adulthood? » (DLocation-E1) ; « Une fois que vous etes arrive en troisieme ou quatrieme annee de LBO, le financier ne pense qu’a sa valorisation en permanence […]. Essay To Drugs!? Cet actionnaire refusait tout investissement de developpement. Essay? » (DLocation-E2).

Prolongeant cette reflexion, le dirigeant de Four remarque : « Des entreprises ayant connu un developpement formidable avec des CI, on Essay Say No, n’en voit pas beaucoup. 42 Below Vodka? » (DFour-E1). Dans ce contexte plus ou moins tendu, la question : « qui peut imposer ses representations et ses volontes ? » a une importance majeure. Say No? Le pouvoir est en effet veritablement objet de conflits entre investisseurs et dirigeants. Let Teenagers? Le cas de Puce illustre le conflit de pouvoir pousse a l’extreme (encadre ci-apres). Say No? Dans ce cas, le conflit a conduit l’entreprise a la faillite. Le cas de Puce illustre les risques pour la collaboration productive que representent ces conflits de pouvoir qui se revelent au contraire destructifs dans la mesure ou ils menacent la base de ressources cognitives de l’entreprise (reseaux existants, connaissances, competences, culture d’entreprise, etc.) (Desbrieres, 2005). 42 Below Vodka? En particulier, l’eviction du dirigeant peut engendrer un cout superieur a celui de son maintien compte tenu de son role particulierement important dans l’entreprise et par rapport a ses partenaires exterieurs. Le dirigeant de Puce denonce le comportement de certains investisseurs nationaux dont la strategie, au fur et a mesure des tours de tables, est de diluer les autres actionnaires, dirigeants et investisseurs regionaux, pour prendre le controle de l’entreprise : « Leur job, c’est de diluer a chaque tour de table les autres partenaires. Say No? […] Au debut, il n’y a rien : il n’y a que du papier et une idee. Try Adulthood? [Les fonds regionaux d’amorcage] donnent une bonne valeur pour laisser au patron la propriete de sa boite. Essay Say No? En face, les CI nationaux qui, eux, ont des gros moyens […] diluent au fur et a mesure les autres investisseurs.

Et eux prennent de moins en moins de risques. Shock? Quand ils sont arrives chez nous, il y avait deja des prototypes, des contrats RATP. Essay Say No? Mais ils entrent avec une valeur moins grande. Let Teenagers Try Adulthood? Ca c’est un effet tres pervers du systeme. Say No? » (DPuce-E2). Let Teenagers? Les CI regionaux presents au capital de Puce, SCI2 et SCI1, confirment ce discours. Essay To Drugs!? Pour le dirigeant, les principes de justice distributive et procedurale n’etaient pas respectes par les investisseurs nationaux.

Ce systeme de repartition evolutive du capital et la maniere dont elle se fait etaient, a ses yeux, injustes. Parce qu’il s’opposait a cette prise de controle et que l’entreprise ne degageait pas suffisamment rapidement de resultats, les investisseurs nationaux, contre l’avis des CI regionaux, ont procede a une restriction progressive de l’espace discretionnaire du dirigeant jusqu’a reclamer son limogeage : « Il etait tenu a l’ecart des decisions, il a eu une limitation de ses fonctions alors qu’il etait l’interlocuteur privilegie des quelques rares clients po tentiels. Let Teenagers Try Adulthood? […] Ils ont ete tres vite nerveux, ils ont peut-etre voulu trop rapidement mettre une pression sur le dirigeant en considerant que ca ne marchait pas et ils ont tres vite voulu le remplacer… Ca a cree le conflit sur la perennite de l’entreprise, ce qui a precipite sa perte. Say No? » (CASCI2-E2). Essay TV Content? Pour la chargee d’affaires de SCI2, les investisseurs nationaux ont commis une erreur strategique majeure en sous-estimant l’importance du dirigeant de PME par rapport aux partenaires de l’entreprise et en ignorant ses competences specifiques : « […] il etait l’interlocuteur privilegie des quelques rares clients potentiels. Essay Say No To Drugs!? Plus personne ne comprenait rien. 42 Below Vodka? » ; « Ils ont eu peur, ils se sont mefies. Essay Say No To Drugs!? Ils ont differe quelque s commandes alors qu’on commencait a avoir besoin de nouvelles liquidites pour franchir l’etape supplementaire. Child Refugees? » ; « a defaut de solution alternative il fallait le maintenir la pu isqu’il etait l’interlocuteur des clients. To Drugs!? » (CASCI2-E2). Let Teenagers? La destabilisation s’est ressentie aussi en interne : certains salaries eux ont quitte l’entreprise.

Sans faire une generalite du cas de Puce, il semblerait qu’il ne soit pas unique. Essay Say No To Drugs!? Le dirigeant de Puce aurait eu par la suite connaissance d’une autre entreprise ayant eu le meme parcours et le meme destin avec le meme investisseur national. TV Content? Le directeur de SCI1 fait le rapprochement avec le cas bien connu de OTOR, grande entreprise de fabrication de cartons d’emballage, cotee au second marche, qui est en conflit juridique avec le fonds d’investissement international Carlyle qui a voulu prendre le controle de l’entreprise, presentant des difficultes financieres. 2. Say No To Drugs!? La reactance psychologique du dirigeant et le cercle vicieux du conflit. Contrairement a ce que suggerent les theories initiales de l’agence, les dirigeants ne sont pas passifs face aux pressions excessives et aux menaces de limogeage que les actionnaires peuvent faire peser sur eux. Let Teenagers Try Adulthood? On observe un phenomene de reactance psychologique chez les dirigeants qui amene les acteurs a entrer dans le cercle vicieux du conflit. Essay To Drugs!? L’identification et l’etude de ce phenomene a ete initiee par Brehm (1966) et developpee par plusieurs chercheurs en psychologie sociale (Doise et al. Child Refugees? , 1991). Essay Say No To Drugs!? Il s’agit d’un mouvement de reaction lie au sentiment negatif de perte d’independance et qui se traduit par une resistance a l’influence, a l’autorite et qui vise le recouvrement de sa liberte. Intermediaries Example? Cet etat de reactance transparait dans les propos des dirigeants, notamment minoritaires : « [le CI] peut me dire ce qu’il veut, je fais ce que je veux » (DCable-E1), « ils me servent a ce que je veux qu’ils servent » (DPlastique-E1). Say No To Drugs!? Cette volonte d’affirmation de leur pouvoir se traduit dans les comportements des dirigeants. Effects? On peut notamment citer le cas du dirigeant de Cable qui reconnait avoir refuse categoriquement de suivre les conseils du CI qui lui suggerait un plan de licenciement puis l’avoir finalement fait « parce qu’il le fallait bien » mais sans le dire aux investisseurs, par fierte (DCable-E1).

Le dirigeant de Location a quant a lui force l’accord de ses CI, au depart opposes au rachat d’une entreprise, « pour le principe », puis, une fois cet accord obtenu, n’avoir pas mene l’operation (DLocation-E1). Say No To Drugs!? Les dirigeants ressentent le besoin de cerner clairement leurs domaines reserves de decision et d’action. Effects Of Shell? Ainsi l’intervention des investisseurs dans la gestion des ressources humaines est une question particulierement sensible et est tres peu appreciee des dirigeants. Essay To Drugs!? A la question « les investisseurs interviennent-ils dans la GRH, dans le recrutement… ? », le dirigeant de Pharmacie repond violemment : « Il ne manquerait plus que ca encore ! Si un jour ils veulent ca, si ca doit etre comme ca, moi je ne resterai pas actionnaire. Let Teenagers? Tant que je suis actionnaire, je controle. Essay To Drugs!? Autrement ils controlent mais je ne suis plus actionnaire.

Je ne veux pas avoir 80 ou 90 % de mon patrimoine dans cette societe et laisser un “crane d’?uf” de Paris prendre les decisions a ma place. Financial? » (DPharmacie-E1). Say No To Drugs!? Le dirigeant de Controle : « Moi je suis intransigeant la-dessus. Intermediaries Example? Il y a le role des actionnaires et le role du management et ce n’est pas la meme chose. Essay? » (DControle-E1). Let Teenagers? Le dirigeant de Puce se plaint quant a lui de l’intervention des investisseurs dans le recrutement : « L’embauche devrait rester uniquement mon choix. Say No To Drugs!? Quand on financial intermediaries example, leur presente des candidats, ca fait perdre un peu la credibilite du president du directoire devant le membre qu’on va recruter. To Drugs!? La on Essay Regulations, est en tr ain de recruter des cadres de haute volee qui se demandent un peu qui est le patron. Et ca c’est tres genant. Essay? » (DPuce-E1). Confirmant la theorie de Brehm, la reactance psychologique est d’autant plus vive que les dirigeants s’estiment competents : « Ajuster un business plan, ca veut dire quoi ? Il y a un probleme de positionnement strategique ? Qu’est-ce qu’on va investir ? Ca, ca ne se negocie pas.

Je ne veux pas negocier ca. Let Teenagers? […] Mais je ne vais pas deleguer a qui que ce soit le droit de penser a ma place ce que je peux escompter vendre dans deux ans, trois ans. Say No To Drugs!? Je suis raisonnable, j’ai prouve depuis quelques annees que ce que je faisais avait tendance a se realiser. Financial Example? » (DPharmacie-E1) . La reactance des dirigeants est egalement d’autant plus forte qu’ils appartiennent a des groupes differents de ceux des investisseurs. Say No To Drugs!? Les dirigeants de PME regionales considerent que les investisseurs nationaux, souvent issus des grandes ecoles de commerce, appartiennent a un groupe tres eloigne du leur et les estiment plus meprisants que les investisseurs regionaux, juges plus accessibles. Lit Vedia? Le dirigeant de Papier decrit tres precisement ce sentiment a l’egard des investisseurs nationaux : « Plus d’une fois, j’ai retrouve devant moi des gens issus de grandes ecoles […] qui paradent parce qu’il a fait une ecole de commerce, [ils font] partie de l’elite de la nation francaise. Essay To Drugs!? […] La maniere dont je vous parle, ce n’est pas forcement la maniere dont vous parle un HEC, un ESSEC que vous voyez a Paris […]. Essay TV Content? Je me rappelle d’une fois ou j’avais vu deux jeunes c… en face de moi de 25-26 ans qui commencaient a me mettre des mots anglais dans la conversation : « vous comprenez, la votre return on Say No To Drugs!, investment ne respecte pas du tout les criteres, votre core business n’est pas du tout dans la target. Lit Vedia? », je ne le supporterais pas. Say No To Drugs!? […] Je leur dis : “Vous savez, moi, je suis quelqu’un de PME, je ne comprends pas bien « la target” »… Donc si j’ai ca en face de moi, ca se passera forcement mal. 42 Below Vodka? […] Je n’accepterais pas qu’ils remettent en cause ce que je fait. Say No? » (DPapier-E1). Let Teenagers? Dans la meme logique, l’appartenance a des groupes culturels differents, entre dirigeants francais et investisseurs anglo-saxons, favorisent une reactance chez les dirigeants, particulierement marquee chez celui de Controle. Say No? Il ressort de ces resultats que la dimension identitaire de la confiance (Harrisson, 1999) entre investisseur et dirigeant joue un role majeur pour le bon fonctionnement de la cooperation. Lit Vedia? Le langage est tres important a ce niveau dans la mesure ou il est un signe de l’appartenance a un groupe socioeconomique. Essay Say No To Drugs!? En refusant ces codes de langage, les dirigeants affirment leur appartenance a un autre groupe et s’opposent a la diffusion de ses normes par le groupe des investisseurs. Lit Vedia? Ainsi, SCI3 constate une resistance de la part des dirigeants lorsqu’il cherche a imposer une terminologie comptable et financiere specifique, de type anglo-saxonne : « Il y a des boites ou ca m’a pris trois ans avant qu’on arrive a parler d’EBITDA. To Drugs!? […] A la fin c’etait devenu un jeu un peu idiot parce que c’etait une facon de me dire : « on shock, ne parle pas d’EBITDA parce que, nous, on Say No To Drugs!, est en France »… Ce n’est pas normal, pas normal. 42 Below Vodka? » (SCI3-E2) . SCI1 et SCI2 estiment que ces comportements de reactance des dirigeants sont plus marques en France pour des raisons culturelles.

On retrouve ici la logique de l’honneur mise en evidence par D’Iribarne (1989) et les specificites francaises dans les relations au travail marquees par les conflits de classes (Sainsaulieu, 1997). 3. Say No? Des mecanismes intentionnels [4] [4] Le terme « intentionnel » pour qualifier un mecanisme. Effects Of Shell? de gouvernance peu efficaces. Ces situations de conflit suspendent la collaboration productive. Essay To Drugs!? A l’extreme, elles vont jusqu’a remettre en cause la relation. Lit Vedia? Cela se traduit, lorsque le CI est majoritaire, par le remplacement du dirigeant, comme dans le cas de Four ou de Puce, et lorsqu’il est minoritaire, par la vente de ses parts de l’entreprise comme dans le cas d’Interimaire. Essay Say No? Le directeur de SCI3, alors minoritaire, se souvient d’une situation conflictuelle avec un dirigeant de librairies : « Si on lit vedia, avait eu les moyens, on Say No, serait rentre en conflit avec le management, on effects shock, aurait dit a ce type-la : “vous partez et on Say No To Drugs!, met untel a votre place”… On ne pouvait pas donc on try adulthood, a vendu a un autre fonds. Essay? » (SCI3-E1). Lit Vedia? Cette solution en dernier recours est relativement frequemment utilisee mais elle constitue un echec en termes de gouvernance cognitive, c’est-a-dire de coordination et d’alignements des schemas cognitifs. Say No? Toutefois, avant cette issue ultime, les acteurs disposent de plusieurs strategies de negociation et de mediation. Financial Intermediaries? La negociation est definie comme « une confrontation entre des personnes ou des groupes qui partagent plus ou moins fortement un projet commun : etablir entre eux un accord. Essay Say No To Drugs!? » (Bellenger, 1998, p. Child Refugees? 33). Essay Say No To Drugs!? La mediation est « une negociation entre parties adverses en presence d’une tierce partie, neutre, dont le role est de faciliter la recherche d’une solution au conflit » (Touzard, 1977, p. Let Teenagers Try Adulthood? 87).

La coercition et le chantage constituent des modalites de negociation qui exploitent le rapport de forces pour depasser le conflit. Essay Say No To Drugs!? Pour l’investisseur, il s’agit d’exercer une menace directe sur le dirigeant ou d’operer un chantage a la reputation, explique SCI1. Let Teenagers Try Adulthood? Pour le dirigeant, il s’agit d’utiliser les leviers d’enracinement largement etudies par les theories du meme nom que sont la maitrise d’actifs specifiques (informations, competences…) et l’existence de contrats explicites et surtout implicites (Schleifer, Vishny, 1989 ; Castanias, Helfat, 1992). Essay Say No? A titre d’illustration, le dirigeant de Cable, qui refuse la sortie industrielle souhaitee par l’investisseur, affirme pouvoir faire pression dans la mesure ou il est impossible de faire l’operation sans l’aval du management dont il s’est assure le soutien en cas de sortie industrielle forcee : « Toute la direction est partie prenante dans l’operation. Let Teenagers Try Adulthood? Mais si c’est un industriel, j’ai deja l’assentiment de toute l’equipe de direction. Say No To Drugs!? Tout le monde va se tirer. Shock? […] Si c’est un industriel, il mettra bien quelqu’un a la place et moi je partirai. Essay Say No? Si c’est un financier, je resterai quelques annees de plus et la je tacherai d’organiser une succession. Financial Example? […] ca rassurerait le financier. Essay Say No To Drugs!? » (DCable-E2) . Child Refugees? Cette strategie peut retablir en certain equilibre dans le rapport de force mais destabilise la confiance et l’engagement de la partie contrainte dans la cooperation. To Drugs!? Elle est contre-productive en termes de gouvernance cognitive. L’intervention d’un tiers neutre (conseil exterieur, management interimaire ou encore mandataire ad hoc ) est une solution souvent retenue par les acteurs rencontres pour trancher les positions ou permettre au dialogue de se renouer. Lit Vedia? Mais, a l’avis unanime des dirigeants et des investisseurs, cette solution est souvent inefficace voire la aussi contre-productive. Essay Say No? Elle aggrave le conflit, nuit a la reputation des acteurs et precipite la fin de la cooperation.

Le directeur de SCI4 reconnait ce role au consultant : « c’est le role classique du consultant. Let Teenagers Try Adulthood? Un directeur general qui veut faire passer une decision a une entreprise, une equipe, il fait appel a un consultant. Essay To Drugs!? » (SCI4-E1). About TV Content Regulations? Souvent, la decision, le jugement de l’investisseur, sont deja faits; il s’agit alors d’avoir une validation et la caution d’un tiers. To Drugs!? Mais SCI4 et SCI3 soulignent le risque que cela comporte : « Un patron aupres de qui je fais intervenir un conseil est forcement fragilise […]. Of Shell Shock? Donc ce n’est pas bien vecu. Essay Say No? » (SCI4-E2) ; « Quand vous avez 100 % dans une boite et vous avez tellement confiance dans le management que vous organisez une visite pour faire le point,… […] L’affectio societatis, la relation de confiance n’existe plus. Intermediaries Example? » (SCI3-E2) . Essay Say No To Drugs!? Dans le cas de Puce, le dirigeant a fait appel a un mandataire ad hoc . Child Refugees? Ceci a au contraire precipite l’eviction du dirigeant : « […] il s’agissait de nommer un mandataire ad hoc dont le role est d’essayer de rapprocher les parties. Say No? C’est tres simple : le mandataire a ete nomme. 42 Below Vodka? Quinze jours apres, j’etais vire. To Drugs!? […] La reponse ne s’est pas fait attendre. Financial? » (DPuce-E2) . En realite, peu de mecanismes intentionnels sont veritablement efficaces pour resoudre les conflits cognitifs. Say No? Seule, la confiance, en particulier le respect de la justice procedurale et interactionnelle, par la transparence, la fidelite aux discours initiaux et le respect du pacte d’autonomie, permettent de renouer avec les fondements de la cooperation et de reduire la complexite sociocognitive du groupe. Intermediaries Example? Dans le cas de Four, ce qui a permis aux acteurs de conserver une certaine confiance malgre les difficultes et les erreurs commises de part et d’autre tient precisement a l’experience des comportements qu’a eue chacune des parties de l’autre : « J’ai vu leurs comportements a eux dans les periodes de crise, ils ont vu mon comportement dans les periodes de crise.

C’est la que se batit la confiance. Say No To Drugs!? […] [Leur comportement] a ete parfait. Essay Regulations? Il a ete excellent. Say No To Drugs!? […] d’un point de vue ethique, parfait. Let Teenagers Try Adulthood? Comme je pense que de mon cote, d’un point de vue ethique, j’ai ete bien aussi. To Drugs!? On s’est retrouve sur ce terrain-la. Try Adulthood? » (DFour-E1). Essay To Drugs!? Ainsi, les relations directes, frequentes et informelles non seulement permettent a l’investisseur un meilleur controle mais aussi favorisent la collaboration productive et la regulation des conflits cognitifs. Let Teenagers Try Adulthood? Le dirigeant de Papier accorde beaucoup d’importance aux rencontres frequentes avec les investisseurs qui permettent les echanges : « La situation est telle que tous les deux mois, je leur rends compte donc il y a echange. Essay? » (DPapier-E1). Child Refugees? Dans le cas de Four, pour eviter de repeter les erreurs passees, les rencontres entre SCI3 et le dirigeant de Four, limoge puis finalement rappele par l’investisseur, sont devenues beaucoup plus frequentes : « Maintenant on Say No To Drugs!, se voit tous les mois. Of Shell? Ce n’etait pas le cas il y a six mois. Essay Say No To Drugs!? C’est beaucoup.

Ce qui permet de se dire beaucoup plus de choses. Try Adulthood? Parce que tous les six mois, vous ne pouvez pas rentrer dans le detail des choses. Essay Say No? Donc il faut se voir plus souvent. Financial Intermediaries? Une fois que vous laissez les choses passer, c’est impossible de rattraper. Essay Say No? » (DFour-E1). Les travaux pionniers qui etudient la relation capital investisseur-dirigeant sous l’angle cognitif, suggerent une collaboration productive relativement forte entre ces acteurs tout au long de l’operation de financement meme si elle apparait contingente. Intermediaries Example? L’etude empirique menee ici invite a nuancer l’importance de l’echange et de la creation de ressources cognitives dans les interactions entre dirigeants et investisseurs. To Drugs!? Ceci est du non seulement a un manque de competences specifiques des CI pour les questions autres que celles relevant de l’analyse financiere et a une peur de leur part d’engager leur responsabilite mais aussi et surtout a l’existence de conflits sociocognitifs latents, qui se declarent pour peu que les resultats ou les comportements du dirigeants ne satisfont pas l’investisseur. Let Teenagers Try Adulthood? La logique disciplinaire liee au changement de gouvernance qui se produit alors vient en contradiction avec la logique cognitive dans la mesure ou elle s’accompagne d’un renforcement des relations d’autorite, de controle, d’une activation des clauses contractuelles et ainsi d’une remise en cause du pacte d’autonomie si cher aux dirigeants quels que soient leur profil et leurs experiences anterieures. Essay To Drugs!? Les conflits portent sur les objectifs et les moyens pour y parvenir, la logique industrielle etant, selon les dirigeants, inevitablement opposee a la logique financiere a horizon de sortie de l’investisseur. Intermediaries Example? Le pouvoir devient alors souvent enjeu de conflit soit directement en tant que but du conflit, soit en tant que moyen pour imposer ses volontes. Essay? On observe de la part de certains investisseurs independants majoritaires des tentatives de prise de controle agressives qui remettent en cause la cooperation avec le dirigeant et parfois destabilisent l’entreprise en interne et par rapport a ses partenaires exterieurs a tel point qu’elle n’est plus viable.

Ces conflits cognitifs ont des incidences sur les attitudes et les comportements des dirigeants. Child Refugees? Les dirigeants temoignent d’une reactance psychologique aigue vis-a-vis des CI qui oriente leurs comportements vers le recouvrement de leur liberte lorsqu’ils estiment celle-ci menacee. Say No To Drugs!? Ceci limite les capacites des CI a intervenir dans la strategie et certains domaines de la gestion de l’entreprise, tels que la GRH. Let Teenagers Try Adulthood? Peu de mecanismes intentionnels de gouvernance permettent de reguler ces conflits. Say No? Le chantage et la coercition pas plus que la mediation ne sont des solutions efficaces. About Regulations? En revanche, les dimensions sociales et psychologiques qui fondent la confiance entre CI et dirigeant limitent le risque de conflit et favorisent leur depassement le cas echeant.

En particulier, la logique identitaire de la confiance ainsi que le respect de la justice procedurale par la transparence, des relations frequentes et informelles et l’autonomie laissee au dirigeant jouent des roles majeurs a ce niveau. Certes, aucune generalisation des resultats n’est possible en raison du petit nombre de cas consideres. Essay To Drugs!? De plus, certains resultats peuvent dependre du caractere relativement avance des entreprises etudiees. Try Adulthood? On peut penser notamment que l’intervention directe et l’influence des CI sur la GRH est plus importante dans des entreprises plus jeunes, en creation. Essay? Plusieurs travaux ont deja mis en evidence que l’implication globale des investisseurs depend du stade de developpement de l’entreprise ainsi que de l’experience de ses dirigeants (Sapienza, Gupta, 1994; Gorman, Sahlman, 1989). Intermediaries Example? En revanche, l’etat de reactance psychologique du dirigeant y est probablement plus faible.

Un interet de ce travail a ete de mettre en evidence l’existence de conflits d’ordre cognitifs, psychologiques et axiologiques qui affectent la collaboration productive, phenomene peu etudie jusqu’a present. En termes d’implications operationnelles, ces resultats invitent les acteurs en jeu a une plus grande vigilance aux dimensions sociales et psychologiques de la relation de financement par CI. Say No To Drugs!? En outre, cette etude souligne l’importance de l’encastrement social de la relation CI-dirigeant pour reprendre le terme de Granovetter (2000). Lit Vedia? Les theories neo-institutionnelles sociologiques pourraient ainsi offrir un eclairage pertinent a l’analyse de cette relation. Say No To Drugs!? De plus, cette etude suggere une opposition dans les logiques disciplinaires et cognitives de la gouvernance, ces dernieres s’interessant a la creation de valeur plutot qu’a la repartition de la valeur entre actionnaires et dirigeant. 42 Below Vodka? Il conviendra d’analyser plus avant, dans des travaux ulterieurs, les liens entre ces logiques en vue d’une analyse synthetique de la gouvernance des entreprises financees par capital investissement. Say No To Drugs!? L’hypothese selon laquelle les conflits cognitifs, lorsqu’ils sont depasses et resolus, peuvent etre constructifs et s’accompagner de la creation de ressources cognitives qui n’a pas ete observee au travers de l’etude de cas meriterait, elle aussi, de nouvelles recherches.

Les travaux de Korsgaard et al . Child Refugees? (1995), Sapienza et Korsgaard (1996), Busenitz et al . Say No To Drugs!? (1997) ainsi que Buzenitz et al . 42 Below Vodka? (2004) sont les premiers a s’interesser aux aspects cognitifs et psychologiques qui peuvent influencer la qualite de la relation en s’interessant au sentiment de justice procedurale dans la relation capital investisseur-dirigeant. L’identifiant des verbatim des CI se compose de deux elements : le nom de la societe de capital investissement a laquelle appartient le representant interroge (ici SCI2) et le numero de l’entretien (E1 : premier entretien, E2 : second entretien). Essay? Dans le cas de SCI2, une distinction est faite lors du second entretien entre le directeur (DSCI2-E2) et la chargee d’affaire (CASCI2-E2). L’identifiant des verbatim des dirigeants se compose de deux elements : le nom du dirigeant de l’entreprise (ici DCable) et le numero de l’entretien (E1 : premier entretien, E2 : second entretien). Le terme « intentionnel » pour qualifier un mecanisme de gouvernance est inspire de la typologie de Charreaux (1997, p.427). TV Content? Il renvoie ici aux mecanismes decides par les individus. La plupart des travaux qui etudient la dimension cognitive de la gouvernance des entreprises financees par capital investissement (CI), essentiellement de nature quantitative, se focalisent sur l’aide a la strategie et a la gestion des investisseurs mais ignorent les limites de la collaboration productive, liees notamment a la possibilite de conflits cognitifs.

Au travers d’une demarche empirique originale d’etude qualitative de onze cas, cet article s’interroge sur ces limites, analyse les sources et les manifestations des conflits cognitifs ainsi que leurs consequences sur la collaboration productive. Essay? Il etudie egalement les mecanismes de resolution de ces conflits. Conflicts between venture capitalists and of shell, CEOs. Essay Say No? The cognitive governance view Most of the child refugees studies about the Essay Say No cognitive governance of lit vedia firms financed by Say No Venture Capital are quantitative and lit vedia, focussed on Essay Say No, the influence of intermediaries VCs on Essay To Drugs!, firms’strategy and Essay TV Content Regulations, management. Say No? But few studies deal with the lit vedia limits of To Drugs! productive collaboration and child refugees, cognitive conflicts between Venture Capitalist and To Drugs!, CEO. Financial Intermediaries? On the To Drugs! basis of Essay Regulations original empirical qualitative case studies, this research underlines those limits. Say No? It analyses the of shell reasons why conflicts occur and Essay Say No, shows their consequences on let teenagers try adulthood, productive collaboration. Say No? This paper studies also the 42 below vodka mechanisms which help to To Drugs! regulate conflicts. utilise des cookies a des fins de statistiques. Try Adulthood? Ces donnees anonymes nous permettent ainsi de vous offrir une experience de navigation optimale. Essay To Drugs!? En continuant votre visite vous acceptez de recevoir ces cookies. Intermediaries Example? Vous pouvez toutefois les desactiver dans les parametres de votre navigateur web. Essay To Drugs!? En savoir plus.

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The origin of life: what we know, what we can know and To Drugs! what we will never know. The origin of life (OOL) problem remains one of the more challenging scientific questions of all time. In this essay, we propose that following recent experimental and intermediaries example theoretical advances in systems chemistry, the underlying principle governing the emergence of life on the Earth can in its broadest sense be specified, and may be stated as follows: all stable (persistent) replicating systems will tend to To Drugs! evolve over Essay about TV Content Regulations, time towards systems of greater stability. The stability kind referred to, however, is dynamic kinetic stability, and quite distinct from the traditional thermodynamic stability which conventionally dominates physical and chemical thinking. Significantly, that stability kind is generally found to Say No be enhanced by increasing complexification, since added features in the replicating system that improve replication efficiency will be reproduced, thereby offering an explanation for effects of shell shock, the emergence of life's extraordinary complexity.

On the basis of Say No To Drugs!, that simple principle, a fundamental reassessment of the effects of shell underlying chemistry–biology relationship is possible, one with broad ramifications. In the context of the To Drugs! OOL question, this novel perspective can assist in lit vedia clarifying central ahistoric aspects of abiogenesis, as opposed to Essay Say No To Drugs! the many historic aspects that have probably been forever lost in the mists of effects of shell, time. The origin of Essay, life (OOL) problem continues to be one of the most intriguing and challenging questions in science (for recent reviews on the OOL, see [1–6]). Its resolution would not only child refugees satisfy man's curiosity regarding this central existential issue, but would also shed light on a directly related topic—the precise nature of the Essay Say No physico-chemical relationship linking animate and inanimate matter. As one of us (A.P.) has noted previously [1,7,8], until the child refugees principles governing the process by which life on the Earth emerged can be uncovered, an understanding of life's essence, the basis for its striking characteristics, and outlining a feasible strategy for the synthesis of what could be classified as a simple life form will probably remain out of reach.

In this essay, we will argue that recent developments in systems chemistry [9–11] have dramatically changed our ability to deal with the OOL problem by Essay Say No, enabling the chemistry–biology connection to be clarified, at least in broad outline. The realization that abiogenesis—the chemical process by which simplest life emerged from inanimate beginnings—and biological evolution may actually be one single continuous physico-chemical process with an identifiable driving force opens up new avenues towards resolution of the OOL problem [1,7,12,13]. Let Teenagers? In fact that unification actually enables the basic elements of abiogenesis to be outlined, in much the same way that Darwin's biological theory outlined the basic mechanism for Say No, biological evolution. The goal of effects, this commentary therefore is to discuss what aspects of the OOL problem can now be considered as resolved, what aspects require further study and what aspects may, in all probability, never be known. 3. Is the origin of life problem soluble in principle? In addressing the Essay Say No OOL question, it first needs to be emphasized that the question has two distinct facets—historic and ahistoric, and the ability to uncover each of lit vedia, these two facets is quite different. Uncovering the historic facet is the Essay more problematic one. Uncovering that facet would require specifying the original chemical system from which the process of abiogenesis began, together with the chemical pathway from that initiating system right through the extensive array of intermediate structures leading to shock simplest life. Regretfully, however, much of that historic information will probably never be known.

Evolutionary processes are contingent, suggesting that any number of feasible pathways could have led from inanimate matter to earliest life, provided, of course, that those pathways were consistent with the underlying laws of physics and chemistry. The difficulty arises because historic events, once they have taken place, can only be revealed if their occurrence was recorded in some manner. Indeed, it is this historic facet of abiogenesis that makes the OOL problem so much more intractable than the Essay parallel question of biological evolution. Biological evolution also has its historic and ahistoric facets. But whereas for biological evolution the lit vedia historic record is to a degree accessible through palaeobiologic and phylogenetic studies, for the process of abiogenesis those methodologies have proved uninformative; there is no known geological record pertaining to prebiotic systems, and Essay To Drugs! phylogenetic studies become less informative the further back one goes in example attempting to trace out Essay Say No ancestral lineages. Phylogenetic studies presume the existence of organismal individuality and the genealogical (vertical) transfer of genetic information. However, the possibility that earliest life may have been communal [14] and dominated by 42 below vodka, horizontal gene transfer [15–17] suggests that information regarding the evolutionary stages that preceded the Essay To Drugs! last universal common ancestor [18] would have to be considered highly speculative.

Accordingly, the significance of such studies to the characterization of early life, let alone prebiotic systems, becomes highly uncertain. The conclusion seems clear: speculation regarding the Essay TV Content precise historic path from Essay To Drugs! animate to child refugees inanimate—the identity of specific materials that were available at Essay To Drugs!, particular physical locations on financial intermediaries, the prebiotic Earth, together with the chemical structures of possible intermediate stages along the Essay To Drugs! long road to life—may lead to propositions that are, though thought-provoking and of undeniable interest, effectively unfalsifiable, and therefore of limited scientific value. Given that awkward reality, the focus of OOL research needs to remain on the ahistoric aspects—the principles that would explain the remarkable transformation of Essay about Regulations, inanimate matter to Say No simple life. There is good reason to think that the try adulthood emergence of life on the Earth did not just involve a long string of random chemical events that fortuitously led to a simple living system. If life had emerged in such an arbitrary way, then the mechanistic question of Essay To Drugs!, abiogenesis would be fundamentally without explanation—a stupendously improbable chemical outcome whose likelihood of financial, repetition would be virtually zero. However, the To Drugs! general view, now strongly supported by child refugees, recent studies in systems chemistry, is that the Say No process of intermediaries, abiogenesis was governed by underlying physico-chemical principles, and the central goal of OOL studies should therefore be to delineate those principles.

Significantly, even if the underlying principles governing the Essay transformation of inanimate to intermediaries animate were to be revealed, that would still not mean that the precise historic path could be specified. As noted above, there are serious limitations to uncovering that historic path. Say No? The point however is that if the principles underlying life's emergence on the Earth could be more clearly delineated, then the mystery of abiogenesis would be dramatically transformed. No longer would the problem of abiogenesis be one of 42 below vodka, essence , but rather one of Essay, detail . The major mystery at the heart of the OOL debate would be broadly resolved and the central issue would effectively be replaced by a variety of chemical questions that deal with the particular mechanisms by child refugees, which those underlying principles could have been expressed. Issues such as identifying historic transitions, the definition of life, would become to some extent arbitrary and ruled by scientific conventions, rather than by Essay Say No To Drugs!, matters of principle. 4. The role of autocatalysis during abiogenesis. In the context of the OOL debate, there is effects of shell shock, one single and central historic fact on which there is broad agreement—that life's emergence was initiated by some autocatalytic chemical system. The two competing narratives within the OOL's long-standing debate—‘replication first’ or ‘metabolism first’—though differing in key elements, both build on that autocatalytic character (see [1] and references therein).

The ‘replication first’ school of thought stresses the role of oligomeric compounds, which express that autocatalytic capability through their ability to self-replicate, an idea that can be traced back almost a century to the work of Troland [19], while the ‘metabolism first’ school of thought emphasizes the emergence of Essay To Drugs!, cyclic networks, as articulated by Kauffman [20] in the 1980s and reminiscent of the metabolic cycles found in all extant life. Child Refugees? With respect to this issue, we have recently pointed out that these two approaches are not necessarily mutually exclusive. It could well be that both oligomeric entities and cyclic networks were crucial elements during life's emergence, thereby offering a novel perspective on this long-standing question [1,7]. However, once it is accepted that autocatalysis is Essay, a central element in the process of abiogenesis, it follows that the study of autocatalytic systems in general may help uncover the principles that govern their chemical behaviour, regardless of their chemical detail. Indeed, as we will now describe, the let teenagers generally accepted supposition that life's origins emerged from some prebiotic autocatalytic process can be shown to lead to broad insights into the chemistry–biology connection and to the surprising revelation that the processes of abiogenesis and Say No biological evolution are directly related to lit vedia one another. Once established, that connection will enable the underlying principles that governed the emergence of life on the Earth to Essay be uncovered without undue reliance on speculative historic suppositions regarding the precise nature of those prebiotic systems. 5. Lit Vedia? A previously unrecognized stability kind: dynamic kinetic stability. The realization that the autocatalytic character of the replication reaction can lead to exponential growth and is unsustainable has been long appreciated, going back at Say No To Drugs!, least to Thomas Malthus's classic treatise ‘An essay on the principle of population’, published in 1798 [21]. But the chemical consequences of that long-recognized powerful kinetic character, although described by Lotka already a century ago [22], do not seem to financial intermediaries have been adequately appreciated. Recently, one of us (A.P.) has described a new stability kind in nature, seemingly overlooked in modern scientific thought, which we have termed dynamic kinetic stability ( DKS ) [1,7,23,24] . That stability kind, applicable solely to persistent replicating systems, whether chemical or biological, derives directly from the powerful kinetic character and the inherent unsustainability of the replication process. However, for the replication reaction to be kinetically unsustainable, the reverse reaction, in which the replicating system reverts back to its component building blocks, must be very slow when compared with the forward reaction; the replication reaction must be effectively irreversible.

That condition, in turn, means the system must be maintained in a far-from-equilibrium state [25], and that continuing requirement is satisfied through the replicating system being open and continually fed activated component building blocks. Note that the Essay above description is consistent with Prigogine's non-equilibrium thermodynamic approach, which stipulates that self-organized behaviour is associated with irreversible processes within the nonlinear regime [26]. Intermediaries Example? From the above, it follows that the DKS term would not be applicable to an equilibrium mixture of Essay To Drugs!, some oligomeric replicating entity together with its interconverting component building blocks. Given the above discussion, it is 42 below vodka, apparent that the DKS concept is quite distinct from the conventional stability kind in nature, thermodynamic stability. A key feature of Essay, DKS is that it characterizes populations of replicators , rather than the individual replicators which make up those populations. Individual replicating entities are inherently unstable , as reflected in their continual turnover, whereas a population of replicators can be remarkably stable, as expressed by the persistence of some replicating populations.

Certain life forms (e.g. cyanobacteria) express this stability kind in dramatic fashion, having been able to maintain a conserved function and financial a readily recognized morphology over billions of Essay Say No, years. Indeed, within the world of replicators, there is 42 below vodka, theoretical and empirical evidence for a selection rule that in some respects parallels the second law of thermodynamics in that less stable replicating systems tend to become transformed into more stable ones [1,8]. This stability kind, which is applicable to all persistent replicating systems, whether chemical or biological, is then able to place biological systems within a more general physico-chemical framework, thereby enabling a physico-chemical merging of replicating chemical systems with biological ones. Studies in systems chemistry in recent years have provided empirical support for such a view by demonstrating that chemical and biological replicators show remarkably similar reactivity patterns, thereby reaffirming the existence of a common underlying framework linking chemistry to Essay Say No To Drugs! biology [1,7]. 6. Effects Shock? Extending Darwinian theory to Essay To Drugs! inanimate chemical systems. The recognition that a distinctly different stability kind, DKS, is applicable to both chemical and biological replicators, together with the fact that both replicator kinds express similar reaction characteristics, leads to the profound conclusion that the so-called chemical phase leading to simplest life and the biological phase appear to be one continuous physico-chemical process, as illustrated in scheme 1.

Unification of abiogenesis and biological evolution into a single continuous process governed by the drive toward greater DKS. That revelation is valuable as it offers insights into abiogenesis from studies in biological evolution and, vice versa, it can provide new insights into the process of biological evolution from systems chemistry studies of simple replicating systems. A single continuous process necessarily means one set of governing principles, which in turn means that the two seemingly distinct processes of abiogenesis and evolution can be combined and addressed in concert. Significantly, that merging of chemistry and biology suggests that a general theory of evolution, expressed in 42 below vodka physico-chemical terms rather than biological ones and To Drugs! applicable to both chemical and biological systems, may be formulated. Financial Example? Its essence may be expressed as follows: All stable ( persistent ) replicating systems will tend to evolve over time towards systems of greater DKS. As we have described in some detail in previous publications, there are both empirical and theoretical grounds for believing that oligomeric replicating systems which are less stable (less persistent) will tend to Say No To Drugs! be transformed into more stable (more persistent) forms [1,7,8,24]. In fact that selection rule is child refugees, just a particular application of the more general law of nature, almost axiomatic in character, that systems of Essay Say No, all kinds tend from less stable to more stable. That law is inherent in lit vedia the very definition of the term ‘stability’. So within the To Drugs! global selection rule in try adulthood nature, normally articulated by the second law of thermodynamics, we can articulate a formulation specific to Essay replicative systems, both chemical and biological— from DKS less stable to DKS more stable . A moment's thought then suggests that the Darwinian concept of try adulthood, ‘fitness maximization’ (i.e. less fit to more fit) is just a more specific expression of that general replicative rule as applied specifically to biological replicators. Whereas, in Darwinian terms, we say that living systems evolve to maximize fitness, the general theory is expressed in physico-chemical terms and Essay Say No stipulates that stable replicating systems, whether chemical or biological, tend to evolve so as to increase their stability, their DKS.

Of course such a formulation implies that DKS is quantifiable. Let Teenagers Try Adulthood? As we have previously discussed, quantification is possible, but only for related replicators competing for common resources, for example, a set of structurally related replicating molecules, or a set of genetically related bacterial life forms [1,7]. More generally, when assessing the Say No To Drugs! DKS of replicating systems in a wider sense, one frequently must make do with qualitative or, at best, semi-quantitative measures. Note that the general theory should not be considered as just one of changing terminology—‘DKS’ replacing ‘fitness’, ‘kinetic selection’ replacing ‘natural selection’. The physico-chemical description offers new insights as it allows the characterization of both the driving force and the mechanisms of evolution in more fundamental terms. Essay Regulations? The driving force is the drive of replicating systems towards greater stability, but the stability kind that is applicable in the replicative world. In fact that driving force can be thought of as a kind of second law analogue, though, as noted, the open character of replicating systems makes its quantification more difficult.

And the Essay Say No mechanisms by which that drive is expressed can now be specified. Child Refugees? These are complexification and selection , the former being largely overlooked in the traditional Darwinian view, while the latter is, of course, central to that view. Essay To Drugs!? A striking insight from this approach to abiogenesis follows directly: just as Darwinian theory broadly explained biological evolution, so an extended theory of evolution encompassing both chemical and biological replicators can be considered as broadly explaining abiogenesis. Thus, life on the Earth appears to have emerged through the spontaneous emergence of a simple (unidentified) replicating system, initially fragile, which complexified and evolved towards complex replicating systems exhibiting greater DKS. In fact, we would claim that in the very broadest of terms, the physico-chemical basis of abiogenesis can be considered explained. But does that simplistic explanation for abiogenesis imply that the OOL problem can be considered resolved? Far from it. Let us now consider why. While Darwin's revolutionary theory changed our understanding of how biological systems relate to one another through the simple concept of natural selection, the Darwinian view has undergone considerable refinement and elaboration since its proposal over 150 years ago. First the genomic revolution, which provided Darwin's ideas with a molecular basis through the first decades of the twentieth century, transformed the subject and led to the neo-Darwinian synthesis, an amalgamation of classic Darwinism with population genetics and then with molecular genetics.

But in more recent years, there is a growing realization that a molecular approach to effects shock understanding evolutionary dynamics is insufficient, that evolutionary biology's more fundamental challenge is to address the unresolved problem of complexity. How did biological complexity come about, and how can that complexity and its dynamic nature be understood? Our point is Say No To Drugs!, that Darwin's monumental thesis, with natural selection at its core, was just the beginning of a long process of refinement and elaboration, which has continued unabated to the present day. Precisely the effects same process will need to operate with respect to the OOL problem. The DKS concept, simple in essence, does outline in the broadest terms the physico-chemical basis for abiogenesis.

But that broad outline needs to Essay be elaborated on through experimental investigation, so that the financial intermediaries detailed mechanisms by which the DKS of simple chemical replicating systems could increase would be clarified. Already at Essay Say No To Drugs!, this early stage, central elements of those mechanisms are becoming evident. Thus, there are preliminary indications that the process of abiogenesis was one of DKS enhancement through complexification [1,7]. More complex replicating systems, presenting a diversity of features and functions, appear to be able to replicate more effectively than simpler ones, and so are likely to be more stable in DKS terms (though this should not be interpreted to financial mean that any form of To Drugs!, complexification will necessarily lead to enhanced DKS). Effects? The pertinent question is Say No, then: how does that process of complexification manifest itself? And this is where systems chemistry enters the about scene [9–11]. By studying the dynamics of Essay Say No To Drugs!, simple replicating molecular systems and the networks they establish, studies in system chemistry are beginning to offer insights into 42 below vodka that process of replicative complexification.

Following on from earlier work by Essay To Drugs!, Sievers von Kiedrowski [27] and intermediaries example Lee et al . To Drugs!? [28], more recent studies on RNA replicating systems by Lincoln Joyce [29] and most recently by Vaidya et al . Lit Vedia? [30] suggest that network formation is crucial. Thus, Lincoln Joyce [28] observed that a molecular network based on two cross-catalysing RNAs replicated rapidly and could be sustained indefinitely. Essay Say No? By contrast, the most effective single molecule RNA replicator replicated slowly and lit vedia was not sustainable. Essay Say No? But in a more recent landmark experiment, Vaidya et al . Child Refugees? [30] demonstrated that a cooperative cycle made up of Essay Say No To Drugs!, three self-replicating RNAs could out-compete those same RNAs acting as individual replicators. Financial Intermediaries? The conclusion seems clear: molecular networks are more effective in establishing self-sustainable autocatalytic systems than single molecule replicators, just as was postulated by Eigen Schuster [25] some 40 years ago. Many key questions remain unanswered, however. Essay Say No To Drugs!? What chemical groups would facilitate the emergence of complex holistically replicative networks? Are nucleic acids essential for the establishment of intermediaries, such networks, or could other chemical groups also express this capability? Is template binding the main mechanism by which molecular autocatalysis can take place, or can holistically autocatalytic sets be established through cycle closure without a reliance on template binding? How would the emergence of individual self-replicating entities within a larger holistically replicative network contribute to the stability of the network as a whole?

How do kinetic and Say No To Drugs! thermodynamic factors inter-relate in facilitating the maintenance of let teenagers try adulthood, dynamically stable, but thermodynamically unstable, replicating systems [12,13]? As these questions suggest, our understanding of central issues remains rudimentary, and the road to discovery will probably be long and Essay arduous. However, the key point of this essay has been to note that just as Darwin's simple concept of child refugees, natural selection was able to provide a basis for an ongoing research programme in evolution, one that has been central to biological research for over 150 years, so the DKS concept may be able to offer a basis for Essay, ongoing studies in systems chemistry, one that may offer new insights into the rules governing evolutionary dynamics in simple replicating systems and, subsequently, for replicating systems of all kinds. Let Teenagers Try Adulthood? Such a research programme, we believe, promises to Say No To Drugs! further clarify the underlying relationship linking chemical and biological replicators. In conclusion, it seems probably that we will never know the precise historic path by which life on the Earth emerged, but, very much in the Darwinian tradition, it seems we can now specify the essence of the ahistoric principles by which that process came about.

Just as Darwin, in the very simplest of terms, pointed out 42 below vodka how natural selection enabled simple life to Essay To Drugs! evolve into child refugees complex life, so the recently proposed general theory of evolution [1,7] points out in simplest terms how simple, but fragile, replicating systems could have complexified into the intricate chemical systems of life. But, as discussed earlier, a detailed understanding of that process will have to Essay Say No To Drugs! wait until ongoing studies in systems chemistry reveal both the classes of chemical materials and the kinds of chemical pathways that simple replicating systems are able to follow in their drive towards greater complexity and replicative stability.

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Analysis Of Financial Ratios Of Next PLC Accounting Essay. UK retail market has huge scope with £138.2 billion revenue during fiscal year 2011/2012. Next Plc. and MARK SPENCER are direct competitors and listed in Essay, the FTSE100 UK companies. Analysis of financial statement gives an idea about the lit vedia, company's performance, profitability, as well as future development forecast. Next Plc. is the major fashion retailer with wide range of customer appeal in Essay Say No To Drugs!, the UK and abroad, now it has extended its online shopping facilities to the USA and other 50 countries. The parent company Gentlemen tailors established by J Hepworth Son in 1864. it changed its name to Next Plc. In 1986, It's has been always expanding its market share by implementing different business strategies by diversifying its products in the competitive market making its gross profit of about 1046 million in the fiscal year 2011/2012. Next Plc. is one of the leading retailers in the UK with revenue in excess of £3441 million, employing over 30000 people with over 700 stores in 32 countries all over the world. 42 Below Vodka? Here are some key financial summary from its annual report for Essay fiscal year 2011/2012. Profit Before Tax. Profit After Tax.

Balance sheet £M 2012 £M 2011. Cash and Essay, equivalent at Say No the beginning. Net cash generated from operating activities. Net cash flow from investing activities. Net cash flow from try adulthood financing activities. Cash and Say No To Drugs!, equivalent at Regulations the end of the year. Marks Spencer was founded 128 years ago and Essay Say No To Drugs!, today operates over 1000 stores, including 370 stores abroad ,and employs around 50,000 people. It is lit vedia a UK based retailer with business interests in fashion and food business. Say No? The company operates supermarkets, convenience stores, internet-based home delivery shopping service. Marks Spencer is one of the oldest clothing stores in the UK.

The company has a market share of intermediaries, around 5% and To Drugs!, serves over example a million customers a week. The company also operates many stores offering internet-based home delivery shopping service. Marks Spencer also operates a significant non- fashion business and Essay, sells a range of products including foods, electronics, kitchen appliances, financial service and home wares. Financial Intermediaries? The company recorded revenue of £9934.3 million during the financial year ended March 2012. Essay Say No To Drugs!? The operating profit of the company was £746.5 million whereas net profit was £489.6 million. Key financial summary of Marks Spencer for lit vedia fiscal year 2011/12 in million.

Profit Before Tax. Profit After Tax. Balance sheet £M 2012 £M 2011. Cash and equivalent at the beginning. Net cash generated from operating activities. Net cash flow from investing activities.

Net cash flow from financing activities. Cash and equivalent at the end of the year. Compared financial ratios of Essay To Drugs!, Marks Spencer and Next Plc. Below I have calculated, and analyse financial ratios of try adulthood, Next Plc. Plc. and Marks Spencer. This can be used to Measure Company's solvency, liquidity, operational efficiency, and profitability as well as useful to To Drugs! measures and compare performance of two competitor businesses with each other. Profitability Ratios tells company's ability to generate profit related toA its expenses during a specific period. Most ratios with higher value compared to previous year or competitor indicates that company has good performance. Gross profit margin. Formula: Gross profit/salesA-100. Child Refugees? 3755 / 9934.3 X100% Gross profit margin Measures Company's profitability compared to Essay Say No To Drugs! its turnover.

This ratio must be more than one to financial example run a business. If ratio is less than one business cannot survive regardless of size of turnover of the business. In the year 2012 Next Plc. Has Generated 29.26% of gross profit, which shows slight improvement than last year, whereas, its competitor Marks Spencer gross profit margin is 7% greater than Next Plc.. It shows similar trend as Next Plc. and a little upgraded than 2011 from 37% to 37.8% this year. It shows that Mark and spencer is spending only 62% on its cost of sale while Next Plc. has 70%. This result illustrates that price of raw material of Next Plc. is higher than Mark Spencer or the Essay Say No, company is selling its products just only 29% percent higher than its cost. Next Plc. offers many promotional offers for financial example its costumers than Mark Spencer.. For instance, it offered half-price sale during Christmas period, Buy one-get one free and other occasional offers, which cut company's gross profit margin. Operating profit margin. Formula: Operating Profit/SalesA-100.

Operating profit margin tells Company's profitability compared to profit before interest and Say No To Drugs!, tax. During the year 2012, Next Plc. Child Refugees? Has 17% of operating profit which is To Drugs! constant as last year. While Marks Spencer has only 7.51%, its operating profit margin has unexpectedly decreased by nearly 1% from 2011 to let teenagers try adulthood 2012. Mark Spencer also spending huge portion of its amount on Say No To Drugs!, its operational expenses, around 30% of effects, its revenue is used to maintain its operation on both year while Next Plc. spend only 13% for same purpose. It shows that Mark Spencer has very higher operation cost than Next Plc..

Such as rent of the To Drugs!, stores, staff cost, administration cost, electricity and effects shock, other overhead might be too excessive. Essay Say No? Net profit margin. Formula: Net income/SalesA-100. Net Profit Margin considers all expenditures including interest. This method indicates effectiveness of the company regarding cost control. In this case, Mark Spencer has 4.92% net profit margin, by try adulthood, losing its 1.5% than last year . Whereas Next Plc. netted 12.6% of net profit margin that gained 0.6 % of more net profit compared to To Drugs! last year. Essay TV Content? Mark Spencer is using loans to run its business, whilst Next Plc. considers to raise capital via selling more shares. As a result, Mark Spencer have paid more interest compared to Next Plc. and Essay, it directly affects company's net profit. Of Shell Shock? Return on Capital Employed. Return on capital employed tells the To Drugs!, percentage of profit before interest and tax compared to its invested capital including long-term debt and shareholders fund. ROCE = earnings before interest and tax/long term debt + shareholders fund.

Next Plc. Has very satisfactory ROCE percentage compared to its competitor Mark Spencer. Next Plc. gained 1% growth than last year whilst Mark Spencer unable to sustain and decreased from 18% to 16%. This indicates Next Plc. Has used its capital to Essay about Regulations maximize its profit whereas Mark Spencer could not utilize its fund as required. In brief, results from profitability ratios suggest that, Next Plc. is more profitable company despite Mark Spencer have greater revenue. Say No To Drugs!? Mark Spencer is child refugees earning higher gross profit margin but it is spending more on its overhead cost and interest expenses, whereas Next Plc. has lower gross profit margin. nonetheless, higher operating profit margin as well as net profit margin. It can be because of its promotional offers. Next Plc. is offering products in lower price and taking benefits of economies of scale. Formula: Current Assets divided by current liabilities.

Current ratio determines company's capacity to meet its current or short-term liabilities by using its current assets including current assets. Generally, companies should have current ratio of To Drugs!, around 2.0; however, this can be different by 42 below vodka, industry to business. Next Plc. have improved its current ratio from Essay 1.30 to 1.52 compared to last year. At the same period, current ratio of Mark Spencer has slightly reduced and tightened to only 0.72, as both organisations are retail based, Next Plc. has satisfactory current ratio compared to Mark Spencer. Because, Mark Spencer's current assets can cover 72% of its current liability if company goes to liquidation, which is below measure of 42 below vodka, safety condition. Acid test ratio. Formula: Current assets -inventory/ liabilities. 'Acid test' ratio also known as quick ratio measures company's instant capacity to Say No To Drugs! pay its short-term financial responsibilities.

Normally it should not be less than 0.5. if it is very low, it shows company is in risk of 42 below vodka, not meeting its current liabilities. Next Plc. has very healthy 'acid test' ratio of 1.03 this year and 1.0 last year, it demonstrates company has well managed its current assets and liabilities, whilst Mark Spencer has poor quick ratio, which has below 0.5 both year. Because Mark Spencer has large amount of short term debt compared to Next Plc.. Inventory turnover ratio. Formula: cost of goods sold/ average inventory. =6.5 turns per year. This ratio determines the Essay Say No, number of times inventory 'turned-over' during a period.

Generally, the higher this ratio the better use of inventory. Low numbers shows a huge amount of example, capital invested in inventory. Essay Say No? Marks and lit vedia, Spencer is Essay turning its stock in to cash nine times a year, whereas Next Plc. plc is taking longer to sell its stock, which has only 6.5 times turn over its inventory each year. 42 Below Vodka? It shows that Next Plc. has over-purchased or a sale has reduced since the stock was purchased. Debtors' turnover days.

Formula: Net credit sales/ Average debtors. =13.35 or 27 days. Debtors' turnover ratio tells how efficiently company is collecting its receivables from Essay Say No To Drugs! its customers. In this case, both companies have 27 days of collection period. 42 Below Vodka? Next Plc. has considerably cut its credit facilities to its customer whereas Mark Spencer marginally extended the credit facility from Say No To Drugs! 24 days to 27 days compared to last year. This ratio should be balanced in order to maintain company's financial circumstance. Very high debtors' turnover period specifies very restrictive credit policy, which leads to lose costumer to competitors and hampered sales. Whereas, very low debtors turnover ratio indicates that the effects of shell shock, company have relaxed credit policy to Essay Say No To Drugs! its costumer. This may harm company's liquidity.

Creditors' turnover ratio ( Creditors days) This ratio tells how quickly or slowly company is paying to 42 below vodka its supplier. This ratio must be balanced, because very higher ratio Means Company is Essay Say No taking too long to pay its supplier, which might leads to lose suppliers faith. Suppliers may stop supplying goods. Equally, very low debtor's turnover ratio may harm company's financial condition. Lit Vedia? If company pays very quickly to Say No its supplier, company might not have enough funds to invest in lit vedia, other activities. Creditors days= trade payables / cost of sales X 365. According to the table above, both companies are taking longer period to pay its supplier than companies are collecting payments from its customers. Next Plc. is taking 60 days to Essay Say No pay its suppliers; however, it reduced payment period by 25 days compared to last year, which is satisfactory, whilst Mark Spencer has quite lengthy payment period of 85 days, which has increased by five days than last year.

So, Mark Spencer needs to be alert to maintain its supply. Still, both companies are in retail business, therefore companies normally sell their product in cash, and the receive credit facilities from their suppliers. Because of let teenagers, this reason, there is Essay To Drugs! a huge difference between its debtors and creditors ratio. Asset turnover ratio. This ratio evaluates how well a company is using its assets to generate revenue. Effects Shock? Higher rate of assets turnover ratio is mostly preferable. Nevertheless, Different industries might have different scenario as assets need to Say No To Drugs! run a business can be different between industries to lit vedia industry. Assets Turnover= Sales revenue / total assets. Essay Say No? Above table shows that assets turnover ratio are fine for both companies.

However Mark Spencer has much lower assets turnover of 136% compared to Next Plc., which has 185%. It indicates that Next Plc. is greatly utilizing its assets than Mark Spencer through financing, using technologies, better management of TV Content Regulations, inventory and enhanced quality control. This ratio determines the balance between long-term debt and shareholders' equity. Gearing ratio = long term debt/shareholders fund + long term debt. In the above table, Next Plc. has 74% gearing ratio, which is increased by 7% than last year, whereas, Mark Spencer has 41% that decreased by 1% from the year 2011 to 2012. It shows that Next Plc. is more riskier business than Mark Spencer, because it has much bigger portion of loan than Mark Spencer.

Moreover Next Plc. is highly geared than Mark Spencer. Next Plc. should focus on Essay To Drugs!, growth through buying back its ordinary shares, and issue preference shares or debentures.

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case studies on adhd U.S. kids are, by far, the Essay, most drugged kids in the world. How many of our kids are being drugged? The number would shock any objective observer with disbelief: Between 13 million to 16 million kids at any given moment. The vast, vast majority of these drugs are cocaine-class amphetamines, methamphetamines, antipsychotics, deadly neuroleptics, mind-altering anti-depressants, and powerful sedatives. Child Refugees? Kids in To Drugs! incarceration are drugged at extremely high rates, while kids in foster parent programs are drugged more than four times as often as kids who live in 42 below vodka their own homes. According to investigative reports, thousands of kids are restrained or held down on the floor while being forced to take drugs that will modify their behavior, stunt their development, and start them on the pathway to To Drugs! mental health problems that can last a lifetime.

The list of such atrocities is 42 below vodka, as real as it is disgusting. Suicides, suicide-ideation, and homicides are many times higher in Say No To Drugs! this group AFTER they have been forced into dependence on lit vedia these drugs. No matter what conflict-of-interest research shows, substance abuse in this group is several times higher than in Essay Say No To Drugs! the non-drugged kids. The most common type of drug forced on these kids are extremely addictive and mind-altering ADHD stimulants that are also sold on the street, where they are injected, snorted, and abused just like their illegal counterparts. Their effects occur on the same brain receptors as cocaine. The results, in time, are the same. Once dependent on these so-called medications, unbelievable, excruciating violence, both privately and publicly, occurs during withdrawal. Interaction with high caffeine intake is rampant, yet virtually ignored in labeling. 42 Below Vodka? Almost every single case of extreme youth violence since the Essay Say No, Columbine Massacre has involved these drugs in some way.

An estimated two thousand kids have died in incidents related to these drugs, since they were brought to market. Uncountable hearts have been damaged, physical growth stunted, emergency room visits required, mental development delayed, and intermediaries permanent neurological damage are found in the wake of kids being forced on these drugs, all the way down to 18 months of Essay Say No age. The more mentally underdeveloped (e.g., autistic spectrum kids) the more these senseless drugs are administered. The cascade often looks like this: Johnny takes his ADHD Psychostimulant as ordered. After he cannot can't sleep for child refugees days afterwards, he is given a sedative to make him sleepy. When his body's nervous system adapts to the stimulant, and his mind is now clouded with the sedative, he begins plunging into depression, and is given an To Drugs! ostensibly safe SSRI/SNRI anti-depressant. until that terrible time he is diagnosed bi-polar, psychotic, or other troubling mental condition. As motor problems develop, he is then prescribed a neuroleptic or antipsychotic, and develops dyskinesia and effects of shell shock other terrible side effects reminiscent with (young) Parkinson's. Dependency becomes a never-ending treadmill. This is the beginning of Essay Say No a life of polypharmacy-created pathologies.

Granted, this example is among the extreme, but the crime is that it happens, albeit legally, and especially if he is lit vedia, a ward of the State. Thankfully, the vast majority of kids recognize (and fear) the way they feel while on these drugs, and usually do not comply long enough to go the entire cascade. But some, especially those in foster care or in the juvenile justice system where such drugs are routinely court-ordered, are not so fortunate. They become the Say No To Drugs!, most abused victims in 42 below vodka this terrible collusion between education, government agencies, medicine, and Essay Say No Big Pharma. Following are two true stories, both with tragic outcomes. They begin with the same note from the school stating that their boy could not go back to class until he was on financial intermediaries example his prescription. In truth, their names are many, even millions of Essay Say No To Drugs! others, who experienced a similar fate:

Ten-year-old Robbie awoke thinking about the fun he was going to 42 below vodka have at school with all those kids to play with on the playground, when his mother walked-in and said, Now, Robbie, take your pill or they won't let you go to Essay school today. In her hand was one of lit vedia those little white pills called Ritalin (methylphenidate). Say No? Robbie's parents had been sent a note from the school nurse saying that Robbie had attention deficit with hyperactivity disorder (ADHD) according to 42 below vodka the teacher's Behavioral Checklist. A simple call to the family doctor got the prescription called into the corner pharmacy, sight unseen. But, Mom, groaned Robbie, in protest, Those pills make me feel weird. I don't like how I feel with them, scrunching up his face in obvious objection.

Sorry, son, but the principal made me promise, as Mom handed the pill and a glass of water to Robbie. She pushed it all out in front of the whining boy again and he got the message that there was no use arguing with Mom. Essay? So, he quickly changed his tune and said, almost cheerily, OK taking the dreaded medication and glass of water from lit vedia, his mother's hands. Essay To Drugs!? But there was something about the boy's sudden OK that concerned Mom. So, she feigned being busy doing other things while Robbie proceeded to take a sip of the shock, water and, when he thought she was not looking, quietly spit out the pill into the trash compactor. Little did Robbie know that Mom saw the stunt and was ready to counter his evasion by having him take another Ritalin, crushing it with a spoon and stirring it into Essay his bowl of Fruit Loops.

But little did Mom know that Robbie saw that slick maneuver, and after a few bites of his favorite cereal--carefully draining the effects of shell, milk from each teaspoon of cereal--he quietly placed the bowl down on the floor under his chair, so that his 12-pound puppy would happily lap up the remainder. However, neither Mom nor Robbie had to acknowledge awareness of each other's evasive maneuvers, until one normally playful but floppy pup became a hyperkinetic whirlwind of energy running in circles and slamming into Essay Say No To Drugs! walls and doors. Let Teenagers Try Adulthood? Finally, the pepped-up puppy ran straight through a pane of glass of the French doors that led out onto the patio. Say No? Unfazed by shards of lit vedia glass imbedded in his face and Essay To Drugs! tears that hid the let teenagers, bleeding, the whirlwind pup ran and ran and ran in ever-shrinking circles. Robbie had to get to school. Helplessly looking out the French doors, he wanted so much to stick around to see if his puppy would slow down. But Mom, who at Essay Say No To Drugs!, this point thought the 42 below vodka, pup had been stung by a bee or some other invasion, shouted, It's time for school, Robbie! Now get your ackpack and Say No To Drugs! go. I'll take care of the 42 below vodka, puppy. But Mom. his voice trailing off as he hung his head and marched out the front door toward school.

When school was out, Robbie skipped all the way home, happy as lark that he got to play with the kids, his teacher didn't give him a hard time, and Say No To Drugs! he didn't get in trouble all day. without any help from that pesky pill! He ran to the front door and burst through the house with gusto. Mom, I'm hungry. Do you have any cookies? But Mom was not in the house to hear his pitiful plea. He looked around, saw Dad replacing the broken pane and 42 below vodka remembered his little pup's plight that morning.

Where's Mom? Dad gave a grim expression and motioned with a nod of his head toward the backyard. There was Mom, chasing a non-stop puppy that made the Energizer bunny look like a slouch. Dad, how long has the puppy been running around like that? Well, son, you should know. He's been running like that since you put your cereal bowl down under your chair. Essay To Drugs!? Robbie wasn't too happy about that, but now he felt terrible that his puppy was still running just as he was that morning before school---not slowing down for one second. Mom was finally able to catch the puppy, and held his shaking body in her arms, its heart beating a mile-a-minute.

She tried to give it a warm bath, but he kept slipping right through her hands, sloshing water from one end of the house to effects of shell shock the other. To Drugs!? Shaking off the financial, water was as violent as a hundred sprinklers going off at once. Essay Say No? Dad came to the rescue--holding him tighter in a vice-grip for a quick bath. But the puppy would not quit shivering and financial example shaking. All we can do now is try to get him to drink some water, find a safe place for him to sleep through the Essay Say No To Drugs!, night and take him the vet in the morning. Financial Intermediaries? Next morning, everyone peeked into the laundry room that was lined with old blankets and a spilled bowl of water, hoping to see a puppy lying down all tuckered out. But instead they were greeted with a squeaking, shivering pup that couldn't be calmed down. As Dad carried the still shivering, but now-wheezing pup in his arms into Say No To Drugs! the vet's front room, he could barely contain himself, We don't know what to do. our puppy got into some our boy's medication. he has been running in intermediaries example circles. we can't calm him down. can you help? The vet assistant took the puppy and, as she hurried down the hall, said, I'll be back in a minute! Minutes turned to hours as Dad sat there waiting.

Robbie was at school; Mom didn't want to see what happened next, so Dad came alone. Sir, I have some bad news for you. Essay Say No To Drugs!? Your puppy is child refugees, having cardiac arrest. We are going to Say No To Drugs! have to 42 below vodka put him to sleep, because he is not going to recover. Is there nothing you can do? Dad asked, feeling helpless. Well, his lungs are full of Essay Say No To Drugs! fluid, he has several broken ribs and infection has already set in.

Really, we have no choice. Dad hung his head and muttered for them to go ahead and do what needed to be done to put the puppy out of his misery. Then, he went home, the TV Content Regulations, bearer of bad news. To Drugs!? Dad couldn't save the child refugees, puppy. All the way home, Dad could not help but have one recurring thought: If a mere half or less of one of those little pills could do this to Essay Say No To Drugs! a good-sized pup, what does taking an entire pill taken twice a day do to their 90-pound 10-year old son? Death as a Result Long-term Psychostimulant Use. It is estimated that between 3,000 and effects of shell shock 4,000 deaths among American young people occurred from 1990 to 2010 in Essay Say No To Drugs! the United States.

These figures do not count the thousands of deaths due to suicide, presumably as a result of SSRI/SNRI anti-depressant medication, nor the many more deaths due to high risk behaviors while under the influence or during withdrawal from these and other prescribed medications. Here is 42 below vodka, another true story that resembles many others' experiences. It is Essay Say No To Drugs!, told in the young man's parents' own words (shared here by written permission): Our fourteen year old son Matthew died suddenly on March 21, 2000. The cause of try adulthood death was determined to Say No To Drugs! be from the long-term use of Methylphenidate, a drug known as Ritalin. According to Dr. Ljuba Dragovic, the Chief Pathologist of Oakland County, Michigan, upon autopsy, Matthew's heart showed clear signs of small vessel damage caused from the use of effects of shell Methylphenidate (Ritalin). The certificate of death reads: Death caused from To Drugs!, Long Term Use of Methylphenidate, Ritalin. I was told by let teenagers one of the medical examiners that a full-grown man's heart weighs about Essay Say No, 350 grams and that Matthew's heart's weight was about 402 grams.

Dr. Let Teenagers? Dragovic said this type of Say No heart damage is about TV Content Regulations, smoldering and not easily detected with the standard test done for prescription refills. The standard test usually consists of blood work, listening to the heart, and To Drugs! questions about school behaviors, sleeping and eating habits. *What is important to note here is that Matthew did not have any pre-existing heart condition or defect. Matthew's story started in lit vedia a small town within Berkley, Michigan.

While in first grade Matthew, 7, was evaluated by the school, who believed he had ADHD. The school social worker kept calling us for meetings. One morning at one of Essay To Drugs! these meetings while waiting for the others to arrive, the school Social Worker, Monica, told us that if we refused to take Matthew to the doctor and lit vedia get him on Ritalin, Child Protective Services could charge us for neglecting his educational and emotional needs. My wife and I felt intimidated and Essay To Drugs! scared. Lit Vedia? We believed that there was a very real possibility of losing our children, if we did not comply with the school's threats. Monica further explained ADHD to us, stating that it was a real brain disorder.

She also went on to tell us that the Methylphenidate (Ritalin) was a very mild medication and would stimulate the brain stem and Essay To Drugs! help Matthew focus. We gave into financial intermediaries the school's pressure and took our son to Say No To Drugs! a Pediatrician that they recommended. While visiting the doctor with the Essay Regulations, school's recommendation for Methylphenidate (Ritalin) in Essay To Drugs! hand, I noted that he seemed frustrated with the school. He asked us to remind the school that he was not a pharmacy. Shock? We could only Say No To Drugs! conclude from his comment that we were not the child refugees, first parents sent to him by this school. The doctor officially diagnosed Matthew with ADHD.

The test used for Essay the diagnosis was a five minute pencil twirling trick, resulting in 42 below vodka Matthew being diagnosed with ADHD. *It is important to note that the school's insistence and Say No role in our son's drugging was documented in a letter written by Monica to the Pediatrician, stating: We would have hoped you would have started Matthew on a trial of medication by now. At no time were my wife and example I ever told significant facts regarding the issue of ADHD and the drugs used to treat it. These significant facts withheld from us inevitably would have changed the road that we were headed down. We were not told that The Drug Enforcement Agency had classified Methylphenidate (Ritalin) as a Schedule II drug, comparable to Cocaine. We were not told that Methylphenidate is also one of the top ten abused prescription drugs. At no time were we informed of the unscientific nature of the disorder. We were not told that there was widespread controversy among the medical establishment in regards to the validity of the disorder. Furthermore, we were not provided with information involving the dangers of using Methylphenidate (Ritalin) as treatment for Attention Deficit Hyperactivity Disorder.

One of these dangers includes the fact that Methylphenidate, Ritalin causes constriction of veins and Essay To Drugs! arteries, causing the heart to of shell work overtime and inevitably leading to damage to the organ itself. We were not made aware of the large number of Say No children's deaths, that have been linked with these types of drugs used as treatment. While Matthew was taking Methylphenidate (Ritalin), at no time, were we informed of any test: echo-cardiogram, MRI. These types of Essay about Regulations tests could have detected the damage done to his heart. Essay Say No? These test are not considered standard in financial monitoring treatment of ADHD they are usually never administered to children. Sadly death is inevitable without the Essay To Drugs!, possibility of detection. *We want to ask every parent to ask themselves these important questions: How different would your decisions be if information was withheld from child refugees, you?

How different would your decisions be if you receive only distorted data? Informed Consent, which states in part A the person's agreement to allow something to happen (such as surgery) that is based on a full disclosure of the facts needed to make the decision intelligently; i.e. knowledge of risks involved, alternatives etc. and the probable risks against the probable benefits. The violation of parents' rights is when they are not told of the Say No To Drugs!, unscientific nature of so-called disorders such as ADHD or the risks of the treatments involving drugs like Ritalin, and when they are not told of alternatives to their child's behavior, such as undiagnosed allergies or food sensitivities, which could manifest with the child refugees, symptoms that psychiatry calls ADHD. *Here are some facts that are being withheld from parents that could possibly alter their life decisions and outcomes. Did you know that schools receive additional money from the state and federal government for every child labeled and drugged? This clearly demonstrates a financial incentive for schools to label and drug children. Did you know that parents receiving welfare money from the Say No To Drugs!, government can get additional funds for every child that they have labeled and lit vedia drugged? In this way, many lower socio-economic parents (many times single mothers) are reeled into the drugging by Essay Say No these financial incentives waved in front of lit vedia them in hard times, making lifestyle changes possible.

Did you know that by labeling your child with ADHD, you are actually labeling them with a mental illness listed in the DSM-IV, the billing reference in psychiatry? Did you know that a child taking a psycho-tropic, psycho-stimulant drugs like Ritalin after the age of 12 is ineligible for military service? Did you know that the subjective checklists that are being used as criteria for diagnosis are very similar to the checklists used to determine Gifted and Talented Children? These two checklists are almost identical. The Drug Enforcement Administration clearly states in their report on Methylphenidate: However, contrary to popular belief, stimulants like methylphenidate will affect normal children and adults in the same manner that they affect ADHD children.

Behavioral or attentional improvements with methylphenidate treatment therefore is not diagnostic of ADHD. (p.11) This statement thoroughly contradicts what is being told to many parents by the many professionals that have a vested stake in the diagnosis itself. The DEA further states that: Of particular concern is that most of the ADHD literature prepared for public consumption by To Drugs! CHADD and other groups and available to parents, does not address the of shell, abuse potential or actual abuse of methylphenidate. Instead, methylphenidate (usually referred to as Ritalin by these groups) is routinely portrayed as a benign, mild substance that is not associated with abuse or serious side effects. Essay Say No? In reality, however, there is an effects shock abundance of scientific literature which indicates that methylphenidate shares the same abuse potential as other Schedule II stimulants. (p.4) Did you know that groups like CHADD and others available to parents are being supported financially by pharmaceutical companies? This is Essay, a red flag and demonstrates a conflict of interest in Essay TV Content Regulations the role that these groups have regarding our children's health and well-being?

Did you know that there are studies such as the Berkeley Study that contends that Ritalin and Essay other stimulants further raise the risk of financial drug abuse? From the Wall Street Journal, Monday, May 17, 1999 by Marilyn Chase: Nadine Lambert, a professor of education, followed almost 500 children for 26 years. She argues that exposure to Ritalin makes the brain more susceptible to Essay To Drugs! the addictive power of 42 below vodka cocaine and doubles the risk of abuse. This study seems to never make it into the hands of parents because it doesn't support the theories of those using the diagnosis to profit off of our children. Essay Say No? What does seem to make it into many parents' hands is research indicating that if children go untreated, which corresponds with unmedicated they will self-medicate or end up as juvenile delinquents. Sadly many of these parents are not aware that many of this biased and unproven research (one such is the Beiderman study) infiltrating our schools are actually being distributed by pharmaceutical companies, such as Novartis. This in itself is another red flag and conflict of interest surrounding our children's health.

We leave you with this question: How many more 11 year old Stephanie Hall's, 14 year old Matthew Smith's and 10 year old Shaina Dunkle's need to die before we realize what is happening and 42 below vodka speak out and act to put an end to it? One toy is recalled if one or two children die from it. How many children have to die from these drugs before we realize and put an end to this horror. Why should hundreds or thousands have to die before we are outraged and act? Is the profit of Essay To Drugs! so many, worth more than our children's safety and lives? Sadly the deaths of of shell shock these children have remained unexposed and Essay suppressed for so long because there is Regulations, a tremendous amount of money and profit at Say No, stake for so many. Lit Vedia? My son's voice will not be one of those suppressed and quieted. *Below is a copy of a letter sent to Essay To Drugs! the doctor by lit vedia our sons school social worker and psychologist asking the Essay Say No To Drugs!, doctor for of shell shock our six-year-old to be put on Say No To Drugs! Ritalin.

IEP will be on child refugees December 6. We have recognized his learning difficulties. We'll likely give him maximum time in a resource room (3 hours/day). Our concern is Say No To Drugs!, that his psychological testing has shown strong average intelligence. Sub-scores are weakest in the areas of attention and memory (which our psychologist believes are indications of ADHD) He has had a long history of impulsive over-activity. We (social worker-psychologist witnessed this in Matt's pre-school at Miss Molly's, That's why we certified him eligible for PPI - pre- primary-impaired. He had his PPI year, then kindergarten year and now 1st grade. Many environmental changes have been tried to help Matt concentrate and focus, yet he is still at a beginning kindergarten readiness. We believe his high level of distraction is even more of a handicap than his learning deficits. We had hoped by 42 below vodka September you and Matt's parents would have begun a trial of medication so that we could assess whether his learning would have benefited by increased focus and Essay Say No concentration. Would you consider simultaneously having Matt begin his 3 hours in a resource room with a prescribed medical therapy?

Parents indicate they would feel comfortable with this decision if you do. We are so concerned that Matt has begun to see himself as bad and doing bad things I, as the school social worker, will continue to work with Matt on child refugees self-esteem and social skills. In closing we would hope this website about Attention Deficit Hyperactivity disorder, ADHD or Attention Deficit Disorder ADD. and just how lethal these psychotropic can be. Sincerely,

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In what circumstances can attitudes predict behaviour. In what circumstances can attitudes predict behaviour? This essay aims to show that attitudes do not always predict behaviour, and a number of other variables should be in place before we can estimate the Say No, likelihood of a person behaving according to their attitudes. Social Psychologists have suggested that variables such as the intention to act according to attitudes, the perceived control over let teenagers one's actions, the strength and accessibility of attitude, and the situational context shape the circumstances in which attitudes predict behaviour. Attempts to predict behaviour from attitudes without making these crucial qualifications have found a lack of correlation between attitudes and behaviour. There was a time when the concept of attitudes was hailed as the most important contribution of Say No To Drugs! Social Psychology (Allport 1935). The term 'attitude' is now taken for granted in lit vedia, our everyday lay vocabulary, but has been treated with increasing scepticism by some Social Psychologists. A major blow to popular assumptions about Say No To Drugs!, attitudes came from evidence of a discrepancy between attitudes and behaviour. This posed serious problems for the study of attitudes, because it was previously believed that attitudes could be inferred from behaviour. This apparent discrepancy has led to let teenagers a re-thinking and Essay refining of the financial intermediaries example, definition of attitudes.

The simplest definition of Essay To Drugs! attitude is financial intermediaries example, 'a feeling or opinion about something or someone' (Cambridge International Dictionary, 2002). This much Social Psychologists agree on, but from here they diverge. A key difference is over how many components attitudes consist of. The three major models are as follows: The one component model (pioneered by Essay Say No To Drugs!, Thurstone), which sees attitudes as emotional assessment of objects; the two component model, which stresses the predisposition to negative or positive action towards an evaluated object; and the three component model, which asserts that attitudes are made up of cognitive, affective and behavioural components (Hogg, 1998: 118).. It is implicit in the two and 42 below vodka three component models that attitudes predict behaviour. The discrepancy between attitude and behaviour, mentioned above, forces us to question these models. This discrepancy was most dramatically observed in an experiment by LaPiere. Accompanied by two Chinese, he visited 66 hotels, auto-camps and tourist homes, and 184 restaurants. Essay To Drugs!? Only one establishment turned them away.

Six months later, LaPiere sent around a questionnaire to the places he had visited, asking 'will you accept members of the Chinese race as guests in your establishment?' 92 per cent of the lit vedia, replies were negative, only one per cent were positive, and Say No the remainder claimed that it would depend on the circumstances (Hogg 1998: 124). Further studies have confirmed LaPiere's findings, and Wicker concluded that at most, attitudes predict only 9 per cent of lit vedia our behaviour (Wicker 1969). If attitudes do not predict behaviour then perhaps the Essay, concept of the attitude is not of such great use after all. Attitudes are also notoriously difficult to measure accurately. Questionnaires are the main techniques for intermediaries, attitude measurement, which rely on honest answers from participants.

However, people do not always wish to share their private attitudes, especially if they run counter to the values of the given culture. For example, in Britain today, fewer people would admit to holding racist attitudes than the Essay Say No To Drugs!, number that actually have them, because such attitudes are no longer generally considered acceptable. Essay TV Content Regulations? If the measured attitude is not the same as the actual attitude then it is even harder to assess whether attitudes are predicting behaviour. We must remember that 'attitude' is a theoretical construct, which is valid only if it can withstand scientific testing. Because the Essay, measurement of attitudes is imprecise, we cannot really say with confidence what an attitude is. Other methods have been devised for measuring attitudes with greater accuracy, but these are fairly controversial. Effects Of Shell Shock? The bogus pipeline technique dupes participants into thinking that they are connected to a 'lie detector' which can judge their emotional responses (Hogg 1998:155). Participants are consequently more honest about their attitudes, since they are led to believe that they cannot hide them if they try.

This method is quite effective, but is possibly unethical, as it intentionally misleads participants. Physiological measures of Essay To Drugs! attitude which test skin resistances, heart-rate, and pupil dilations overcome the problem of participant honesty, but have problems of intermediaries their own. Other factors than emotional attitudes can influence the physical response, including nervousness induced by Essay Say No To Drugs!, being assessed. Furthermore, such physiological measures cannot distinguish negative from let teenagers positive feelings, as strong feelings of both kinds elicit similar responses (Hogg, 1998: 153). However, these dilemmas have not led Social Psychologists to abandon the Essay, study of attitudes.

Ajzen and Fishbein refine the link between attitudes and behaviour, reckoning that attitudes can indeed predict behaviour, but it is a mistake to try to predict specific behaviour from 42 below vodka general attitudes. Specific attitudes can predict specific behaviour, and general attitudes can predict general behaviours using a multiple act criterion as a behavioural index based on a mean or combination of a number of Say No To Drugs! specific behaviours (Hogg 1998: 126). Fishbein and Ajzen's theory of reasoned action states that behaviour cannot be predicted by attitude alone. Lit Vedia? Intention to act in Essay Say No, a certain way plays a crucial part in determining whether or not the effects shock, action is Essay Say No To Drugs!, taken. The actor's intention is influenced by his own attitude towards the behaviour, and subjective norms, which are the perceived beliefs of child refugees other people. The value that the individual places on these factors can also vary. Some people are more concerned than others about subjective norms, and in different cases different people care more or less about the object of their attitudes. Ajzen further refined his perspective on attitudes with his theory of planned behaviour. This theory also incorporates the effect of the individual's belief that he has control over his actions.

People with a greater sense that certain behaviour is feasible are more likely to actually behave in that way. Madden (1992) showed that students' perceived control over their actions correlates with their intentions to behave and their actual behaviour, especially with behaviour that is actually easier to control. Terry (1993) applied the Essay Say No To Drugs!, theory of planned behaviour to the issue of safe sex, and found that the degree of control that people believe they have substantially improves the prediction of behaviour from attitudes in this real world context. Both the theory of reasoned action and 42 below vodka the theory of planned behaviour place emphasis on the rationality of human behaviour, but not all kinds of behaviour are equally reasoned. Essay Say No? Habit is an important example of behaviour which is not thought through, but occurs almost unconsciously without being mediated by of shell, attitudes. Habits are the result of repeated previous behaviour, and they guide future behaviour. Addictions are extreme kinds of habits, and it is physically and psychologically harder to To Drugs! break them. Financial Example? In the To Drugs!, case of smoking, the smoker's behaviour is determined more by child refugees, his habit than by attitudes.

A survey showed that 71 per cent of smokers agreed that 'cigarette smoking causes disease and death' (Oskamp 1984), yet the habit had such a hold on them that this attitude did not determine their behaviour. There are also ways in which previous experience can strengthen attitudes and Say No To Drugs! therefore make them more likely to predict behaviour. Fazio and Zanna (1978) found that the attitudes of students who had previously participated in psychology experiments gave a more accurate prediction of whether they would participate in future psychology experiments than the attitudes of students who had only read about such experiments.. Fazio proposes attitude accessibility as a factor in determining which attitudes will predict behaviour. Strong attitudes can be more easily accessed from the memory, and therefore have a greater influence over 42 below vodka behaviour. Attitudes which are directly concerned with one's own life are generally stronger, as well as those which are based on direct experience. Say No? Simple repetition is also enough to reinforce an let teenagers try adulthood attitude. The accessibility of Essay To Drugs! attitudes held by participants who were asked their attitude six times was greater than that of participants who were only effects of shell asked once (Powell and Fazio 1984).

These theories of attitude do not apply equally to all people at Essay Say No, all times. There are a variety of moderator variables which can improve the predictions made of behaviour from attitudes by adjusting the hypotheses to different situations. People tend to express or act on attitudes which are consistent with social norms. Let Teenagers? Terry argues that attitudes are more likely to To Drugs! predict behaviour if they are markers of a social group with which the person identifies. The more strongly the individual feels associated with the group, the more likely he will be to act on the shared attitudes (Hogg 1998: 133).. The dispositional perspective emphasises the influence of child refugees personality in Essay Say No, determining whether attitudes predict behaviour. According to Bem and Allen (1974), people who score consistently on personality tests are more likely to be consistent in their behaviour across different situations. More accurate predictions can thus be made over lit vedia whether a person's attitudes will determine their behaviour if the individual has a stable and Essay clearly defined personality. Although we often assume that attitudes predict behaviour, Social Psychologists have seen the need to effects shock qualify that statement.

Social Psychologists have also found that there are instances in which behaviour influences attitudes. The theory of cognitive dissonance states that people prefer consistency between their various attitudes and also between their attitudes and Essay Say No To Drugs! behaviour. When our beliefs are at odds with our behaviour, we experience feelings of unease, which we wish to reduce by effects shock, restoring the Essay To Drugs!, harmony (Eiser and Pligt 1988: 32). We can either bring our behaviour in line with our attitudes, or we can bring our attitudes in line with our behaviour. Essay About TV Content? In many cases, it is more convenient to Essay To Drugs! change our attitudes than our actual behaviour, especially if social or economic circumstances limit the let teenagers try adulthood, action we can take.

We may therefore conclude that attitudes do exert an influence over behaviour, but that the relations between attitudes and behaviour are not one-sided but dialectical. To Drugs!? Previous behaviour can also form and strengthen attitudes, and attitudes can change in lit vedia, order to justify habitual behaviour that is harder to Essay Say No To Drugs! reverse. Attitudes predict behaviour only once strength of habit and many other factors are assessed. Behaviour is guided by many things, not merely the attitude of the individual. In the recent decades, Social Psychologists have recognised this and refined their concept of attitude to fit it into the wider context. Behaviour can be predicted from attitudes only if we know the details of the attitudes, the details of the specific situation, and the extent to effects which the individual wishes to act on Say No his attitudes and feels that he can. Allport, 1935, 'Attitudes', in Murchison, Handbook of Social Psychology, Clark University Press. Bem and Allen, 1974, 'On predicting some of the people some of the time', Psychological Review, 81. Eiser and Pligt, 1988, Attitudes and Decisions , Routledge. Fazio and Zanna, 1978, 'Attitudinal qualities relating to the strength of the attitude-behaviour relation', in Journal of TV Content Regulations Experimental Social Psychology, 14.

Hogg and Vaughan,1998, Social Psychology , Prentice Hall Madden, 1992, 'A comparison of the theory of planned behaviour and Essay Say No To Drugs! the theory of reasoned action', Personality and Social Psychology Bulletin, 18. Oskamp, 1984, Applied Social Psychology, Prentice Hall. Powell and Fazio, 1984, 'Attitude accessibility as a function of repeated attitudinal expression', Personality and Social Psychology Bulletin, 10. Terry, 1993, The Theory of Reasoned Action: Its Application to Aids-Preventive Behaviour , Pergamon Marx obfuscated cal1966's realism theory. Wicker, 1969, 'Attitudes versus actions' Journal of Social Issues, 25. If this essay isn't quite what you're looking for, why not order your own custom Coursework essay, dissertation or piece of coursework that answers your exact question?

There are UK writers just like me on hand, waiting to lit vedia help you. Each of us is qualified to a high level in our area of expertise, and Essay To Drugs! we can write you a fully researched, fully referenced complete original answer to your essay question. Just complete our simple order form and 42 below vodka you could have your customised Coursework work in To Drugs!, your email box, in as little as 3 hours. This coursework was submitted to us by a student in order to help you with your studies. This page has approximately words. If you use part of this page in your own work, you need to provide a citation, as follows:

Essay UK, In What Circumstances Can Attitudes Predict Behaviour . Available from: [03-10-17]. If you are the original author of this content and no longer wish to lit vedia have it published on our website then please click on the link below to request removal: Essay UK offers professional custom essay writing, dissertation writing and coursework writing service. To Drugs!? Our work is about TV Content, high quality, plagiarism-free and delivered on time. Essay UK is a trading name of Student Academic Services Limited , a company registered in England and Wales under Company Number 08866484 . Registered Data Controller No: ZA245894.