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Making Leaders: Leadership Characteristics Of Makers And Engineers In The Maker Community
Get PDFThis study examines the emergence of leadership characteristics within a new organizational community of individuals: the Maker community. The Maker community is a group of individuals that classify themselves as “Makers” and have become innovators and entrepreneurs through the creation of technological gadgets, artistic projects, and other end products. Historically, so-called Tinkers were motivated to design and develop objects in their garages apart from other people with similar motivations. Drawing from Quinn’s Competing Values Framework, these Maker communities exemplify emergent leadership characteristics within collaboration frameworks. Forty critical incident interviews with Makers express the leadership characteristics of these individuals. Characteristics may differ from individual to another, but a general representation of the community as a whole can be made from observing sub-groups within the community. The results hold important implications for leadership growth, cross-cultural management, and the future for what has become an emerging organizational community. The growth of this community has implications for the field of engineering education and new project-based learning coursework. The emergence of the Maker community including maker spaces has also become relevant in this context and the future of how we education engineers
A Paradox Within The Time Value Of Money: A Critical Thinking Exercise For Finance Students
Get PDFThis study presents a paradox within the time value of money (TVM), namely, that the interest-principal sequence embedded in the payment stream of an amortized loan is exactly the opposite of the interest-principal sequence implicit in the present value of a matching annuity. We examine this inverse sequence, both mathematically and intuitively, and argue that it provides an excellent exercise for finance students to explore, both to enhance their critical thinking skills as well as to strengthen their understanding of TVM concepts. Additionally, such an exercise will involve them actively in the learning process, as mandated by AACSB International’s Eligibility Procedures and Standards for Business Accreditation
Working Toward Achieving Significant Representation: Changes In Diversity And Their Implications In The Accounting And Auditing Profession
Get PDFThe purpose of this paper is to examine the demographic changes to the accounting and auditing profession over the past several decades on two levels of diversity (gender and minorities). Using data from a variety of sources, we find significant improvement in the representation of women and minorities in accounting degrees and entry to the profession. However, we also note areas where additional efforts are needed to provide more significant representation including the wage gap and greater representation in higher-level positions
Burgernomics: An Instructional Case on the Law of One Price
Get PDFJane just moved back to her hometown in Western New York to start a job at a bank. One evening, she meets her old friend Sally, who traveled the world for the past five months and tells Jane about her experiences with the different price levels in all the countries that she visited. Jane, being a recent graduate in international economics and finance, understands the underlying dynamics that are due to exchange rate theory and sheds light on the price discrepancies prevailing between the different currencies.This case focuses on the construction of the Big Mac index and on conveying the theoretical basis of the index (Purchasing Power Parity and the Law of One Price) to undergraduate students in business and economics. It is appropriate for use in undergraduate courses such as international finance, financial markets or international economics. It could also be used in (international) marketing courses to show the importance of product pricing.
Lost Vision
Get PDFThis case is to be used as an understanding of the causalities that result from the disarray of future direction, impeding chaos and dysfunctional status to an organization when its “Vision” is lost. The case presents the financial impact when the impetus of a strategy implementation incurs a major disruption due to the loss of its inspirational and transformational leader. The joint venture had completed its internal structuring, communicated internally its mission and product and services, acquired and/or spent many millions of dollars in operational and capital infra-structure prior to its premier into the marketplace. The case describes the environment of disillusion, political in-fighting, and personal and selfish objectives that resulted in the death of the joint venture. Analysis of the case should address the organizational and managerial behavior that should have been the practical application and situation in order for the continual implementation of the organization and benefit to the market place and all stakeholders
Billions Lost Yearly To Earned Income Tax Credit: Errors Or Fraud?
Get PDFThe Earned Income Tax Credit is a refundable credit designed to assist working families with children; especially those who are considered to be living at or close to the poverty level. Over the last decade billions of dollars have been lost due to the improper application and fraudulent claims of the Earned Income Tax Credit (EITC). Critics believe that the program no longer serves its intended function because of the cumulative increase in the amounts lost each year; the legislation needs a major overhaul. The IRS have claimed that over 60 percent of the overpayments of EITC is due to manipulation of self-employed income and expenses, unqualified dependents being claimed, and misuse of single and head of household filing status. Even though the penalties for fraud and the lack of exercising due diligence are severe, these crimes continue to occur. While the tax authorities and other legislative bodies explore ways to combat these fraudulent claims, CPAs and other tax-preparers can assist in the fight against these crimes. As the de facto gatekeepers of the tax revenues, they are encouraged to exercise intensive due diligence and professional skepticism when claiming EITC for their clients.
A Re-Examination Of The Property Tax Burden
Get PDFThe property tax is the major source of own revenues for most city and county governments, yet economists have had very little definitive information to share with policymakers about the burden that it imposes on local citizens. This is because most previous studies of property taxes have used a Suits index analysis which does not allow for any independent variables other than income. We estimate a regression model using current income and various socio-demographic variables in order to take a more fine grained approach. We use data obtained from the Florida Department of Revenue from 326,976 single family homeowners in four northeast Florida counties geo-coded with the 2010 block group census data. We find that the property tax is regressive with respect to current income. With respect to demographic variables, we find that homeowners over the age of 65 pay a higher average tax rate based on their current incomes. African Americans pay a lower tax rate than other races based on their current income. When we combine income and demographic variables to predict the tax rate paid by a hypothetical low socio-economic status household versus a high socio-economic status household, we find that the high SES household pays a higher average tax rate. Thus, the demographic variables temper the regressivity of the property tax based on current income alone
Strategies For Mass Customization
Get PDFMass customization allows firms to produce only things their customers want (or produce after they have orders in hand). This approach, make-to-order, brings many benefits to firms in terms of cost and profit because of lower inventory levels, maximum sales, elimination of material waste, flexible production and, most of all, customer satisfaction. However, mass customization may not be the panacea for all organizations. While some companies are very successful with mass customization, others are not. This paper illustrates that mass customization strategies depend on an understanding of the conditions in each industry
A Critical Evaluation Of Empirical Non-Linear Control System And System Dynamics Modeling Theories For Mitigating Risks Arising From Bullwhip Effect
Get PDFBullwhip effect is a threat observed in multi-echelon supply chains, which is one of the prominent indicators of inefficiencies in a supply chain. Primarily, bullwhip effect occurs as a result of disruptions in information and materials flow, lead-time delays, lack of coordination, and panic stocking amidst visibility into local risk factors. When bullwhip effect occurs, the demand variations entering the supply chain from the customer end amplifies gradually as it flows upstream towards the supplier ends. This may cause unused inventory and may later lead to wastage and obsolescence. Bullwhip effect can be curbed through many approaches. This study has focused on control theory approach that promotes small-scale control behaviors throughout the supply chain to dampen the bullwhip tidal waves. The approach investigated in this research is a combination of control system modeling and systems dynamics modeling, which is not researched adequately by bullwhip academics. Based on the investigations, a six-step approach for reducing Bullwhip effect is proposed in this research and illustrated with examples. The six-step approach comprises of first-level multi-echelon survey to derive the initial system dynamics model, second-level survey to collect primary data for all the variables and relationships formed, principal component analysis and Cronbach Alpha / split-half testing for reliability, verification, and validity testing and exploring the best optimal construct using structural equation modeling, and finally, applying controllers to the optimal systems dynamics model through interpretive analysis of the model
Are Board Size And Ownership Structure Beneficial In Emerging Markets’ Firms? Evidence From Jordan
Get PDFThe present study aims to investigate the effect of board size and managerial ownership on firm performance in Jordan, based on agency. The current study examined cross sectional data to test all hypotheses through using statistical software, SPSS 20, to analyze data on a sample of 60 firms (service firms) in Jordan as one of emerging markets in Asia. Multiple regression analysis instruments were used to test the hypothesis regarding the effect of board size and managerial ownership on firm performance with the effect of firm size as a control variable. The data used in the current study is obtained from the annual reports issued by Amman Stock Exchange (ASE) for the year 2014. Accounting data is used in the current study for the purpose of measuring the performances represented by ROA and ROE. I find that measures of board size statistically affect ROA and ROE. Board size affects ROA and ROE positively while firm size has no effect on firm performance. Unfortunately, managerial ownership does not affect both ROA and ROE. The current study presents practical evidence to the policy makers, academic and all beneficiary parties in emerging markets, specifically Jordan