Everything You Need to Know about How to Write a Dissertation

Irrespectively of the discipline you study, the dissertation writing will most likely be the most significant and difficult piece of independent work you perform as a student. It will occupy a fair amount of your time, resources and attention, which means that you should approach the task with all seriousness. This guide will help you get your bearings and be prepared to most challenges this kind of work can throw your way. Dissertation and Thesis: Are They the Same? If you have been reading up on the subject, you have probably noticed that there is a great deal of ambiguity concerning the job you are about to do. Sometimes it is called a thesis, sometimes a dissertation; so which is right? In most cases, dissertation is a part of the undergraduate program, while theses are usually associated with Master’s degrees. However, the difference is vague, and a lot depends on the country and the university in question – in some cases the terms are completely interchangeable, in others they are more fixed. Source: https://www.youtube.com/watch?v=WJBmagFfcPQ Research Proposal and How to Write It Research proposal is a document in which you outline the research project you are about to write, draw a plan of your intended work and in general make an effort to persuade those whom it may concern that your research is valuable and can be successfully completed. Source: https://www.youtube.com/watch?v=_-Cf88qlMO0 Sometimes research proposal is written as a part of a future dissertation, sometimes as a separate work preceding it, sometimes you may not be required to write it at all. However, even in this case it may be a good idea to write it for yourself, as it will help you organize your thoughts and sketch the plan of your work, which is essential for a project of this size. Unless you are given different instructions, your research proposal should contain the following: Title; Introduction, where you delineate the topic, review the literature covering it and existing theoretical background; General objectives (if there are more than three, you are probably spreading it too thin and need to trim some fat); Methodology – what information you are going to use and how you are going to obtain and process it; Schedule – you should already have a deadline by which you are supposed to complete your dissertation, but here you break your work up into parts and define the milestones you can realistically reach by certain dates; Potential outcome of your research; The process of writing the proposal should go along these lines: Define the Topic of Research Think of a topic that interests you and/or you have some groundwork in. Establish Research a Question(s) Make sure they weren’t covered in previous research carried by other authors, have some practical value and aren’t too broad or vague. A narrow and focused question is almost always better than a vague and general one. Formulate the Title It shouldn’t necessarily be set in stone, although some universities frown upon the practice of changing dissertation titles halfway through. Outline Methodology What approach (qualitative, quantitative, a hybrid one) are you going to take? What tools will you use? Where are you going to get data and in what ways? How will you analyze your results? Get the Approval of Ethical Board or Its Equivalent in Your University Usually it includes filling in a specialized questionnaire. A word of advice: consult the university’s guidelines and ask for an appointment with your supervisor prior to doing any full-blown writing. You should have some groundwork to show, but it is better to check with somebody more experienced before you invest time and resources into the project. Writing an Introduction Introduction contains a general outline of your thoughts on the subject, reasons why you’ve started this project and what you intend to achieve by it. Despite being the first part of the dissertation proper, writing it is best left until the very end; although you may write a rough draft and update it from time to time as you progress. The contents of an introduction are rather straightforward: Along with existing solutions you should mention theoretical background and existing literature on the subject. If you have already written your research proposal, writing an introduction will be easier – you can use it as a basis, with allowance for the fact that you’ve already completed the dissertation. You may find additional tips on writing an introduction in this video: Source: https://www.youtube.com/watch?v=L2vcfjp5tf4 Writing a Literature Review This is written to demonstrate that you don’t start your project blind, that you’re familiar with the research on the topic and understand whether there are any gaps in it. However, it doesn’t mean that you should simply enumerate the books you’ve read; rather you should single out the most important theories and points of view you’ve encountered and how they concern the topic you’ve chosen. Generally, the structure of this section will be like this: A couple of paragraphs outlining the area of study and existing literature in general terms; Discussion of existing literature, theories and studies; Evaluation and criticism of the most relevant studies. Also bear in mind that you are more than likely to encounter new sources of information as you go along, so be prepared to write and rewrite this section continuously throughout your work on the dissertation. The most time-efficient approach would be to summarize and reference sources as you read them, subdividing them into thematic groups. As your research progresses, you will be able to refine these groupings and get a better picture of what the scholar landscape of the topic looks like. Methodology Methodology isn’t just an enumeration of methods you’ve used in your work – it shows this side of your project in a broader sense. It’s not just about the methods per se, but also about the ones you’ve concentrated on (qualitative, quantitative or hybrid methods), why you’ve decided that this issue should be studied using this set of methods, what you’ve used as data sources and so on. In short, the structure of this section would look like this: Source: https://i.ytimg.com/vi/zQFSNB-0sfQ/hqdefault.jpg Make sure to offer an academic explanation and justification of your choices, grounded in the existing literature and theories. It is not enough to say something like â€Å"I’ve decided† or â€Å"I was interested if this method would prove effective†. You should give a relevant explanation that would rely on the existing theoretical framework. Why were these particular methods selected to research this particular topic? Basically, you completed methodology section should contain the following: Research overview – where you repeat the topic of research; Research design – where you detail your project, describe each part separately, define what each part is going to accomplish; Data gathering – what exactly you used for data gathering (surveys, questionnaires, interviews, sampling etc.). Results Results and discussion sections are probably the most significant part of any dissertation – after all, the purpose of any research is to get results and learn something new. These two chapters may either go separately or be combined into a single section – both approaches have their own pros and cons, but, in most cases, you won’t have a say as to which of them to choose. Consult the guidelines of your university for further information. The Results section should include the following: Results of experimental research; Results of statistical analysis; Evaluation of whether the results you’ve got are relevant in the context of the research topic; Evaluation of whether the results are conclusive; Overview of literature supporting your interpretation. An important point – each result should stem from a corresponding method described in the Methodology section, and vice versa, each method should have a corresponding result. If a particular research method didn’t lead to any significant findings, it is better to exclude it from being mentioned in the dissertation altogether. Make sure you organize the results in a particular fashion and keep to it throughout the section. There are many variants: Chronologically – in the order you’ve used the methods and received the results; In the order of significance – from the most to the least important for your topic; By question – grouping them according to the questions they cover. Finally, even if the Results and Discussion sections in your dissertation are separated from each other, you will most likely have to touch upon some discussion points in this chapter. In this case, don’t overdo it and go into too much detail – you will have an opportunity to do so in the next chapter. Discussion Discussion will probably be one of the longest and most elaborate parts of your dissertation – as a rule, it is responsible for about a fourth of the entire word count. In most cases, it is a focal point of the entire paper. Discussion chapter consists of the following: Explanation and interpretation of the received results; Answer to your initial research question; Justification of your approach to research; Critical evaluation of your work. No research exists in isolation – that is why the main purpose of the Discussion section is to show your work in the context of existing literature, theories and opinions on the subject of research. It is meant to prove that the findings in your work really bring something new and relevant into your field: Source: https://www.youtube.com/watch?v=Tx54cOOgo3g However, don’t exaggerate. To â€Å"critically evaluate† your own paper means to understand its limitations and implications for further work and research in the field, and you should make it obvious that you are realistic in how you see your project. Nevertheless, when you come to this, start with implications and don’t overdo limitations in a fit of false humility – â€Å"realistic† doesn’t equal â€Å"self-deprecatory†. Conclusion Normally, conclusion is a small separate chapter in the end of a dissertation that sums up everything you’ve done up to this point. Sometimes you may be allowed (or asked) to make it a part of the Discussion chapter. However, it doesn’t influence its makeup: Summary of the main results in relation to the goals that you’ve set initially and that you’ve expected; Your conclusions; Reasons why your research is important; Recommendations on future research and/or practical implementation of your findings (if appropriate); Final paragraph concluding your work. As conclusion mostly repeats what already has been said, it is best to keep it short – no more than 4-5 pages. Other Parts That May or May not Be Necessary The aforementioned structure isn’t set in stone; different universities and countries may have their own guidelines as to how a dissertation should be formatted and what parts it should include. In most cases, a dissertation will be broken up in this way: Source: https://www.cumbria.ac.uk/ †¦or very close to it. However, we will briefly mention other sections you may be asked to include. Title Page Usually it contains the author’s name, dissertation title, your course, the name of your supervisor and the date of submission. The exact requirements to contents and formatting entirely depend on your university. Abstract A one-page summary of your thesis. It may be unstructured – in this case you simply summarize your dissertation in any way you please; or structured – meaning that you should introduce subheadings following the structure of the dissertation. Table of Contents All headings and subheadings of your dissertation, with corresponding page numbers. Table of Figures It is probably unnecessary unless your dissertation has a lot of figures and greatly depends on them. Acknowledgements Here you thank those who helped you, either with information or financially, those who helped you with the writing process (supervisor, proofreader, anybody who read and commented on your work). Hopefully, this guide will help you deal with your dissertation. However, we will repeat this again: for the best results, make sure you’ve carefully read the university’s guidelines and consulted your supervisor before you begin to do any actual work – requirements may be wildly different from case to case, and what serves as a good approach in one place is unacceptable in another.

The Six Stages Of Kohlberg s Moral Development - 2377 Words

EXAM – 1 BUS 522 – Dr. S. Jasso APU Summer 2016 1. MORAL DEVELOPMENT a. The six stages of Kohlberg’s moral development: Level I. Preconventional Morality †¢ STAGE 1: Punishment and Obedience – Right and wrong is determined by rewards and punishment. Our behavior is motivated by fear of being punished;; an example of this would be that most people will not steal for fear of being punished (i.e. going to jail). †¢ STAGE 2: Instrumental Relativist Orientation - aka – looking out for number one (oneself); an individual is likely to do what is necessary to satisfy one’s self-interest; an example of this would be when a child completes a chore or exhibits a certain behavior in order to receive a reward (money or toy). Level II. Conventional Morality †¢ STAGE 3: Good Boy – Nice Girl Orientation - Behavior is motivated by the acceptance of the rules and standards. Individuals at this stage seek please others, parents, teachers or friends often seeking approval and conforming to others expectations; an example of this is when an individual is accused of doing something wrong, (i.e. smoking, drinking) they justify their behavior by saying â€Å"everyone else does it†. †¢ STAGE 4: Law and Order Orientation - Individuals at this stage have adopted society’s rules about how to behave and feel a sense of duty to conform to society’s laws and norms; at this stage individuals see their responsibility or part in maintaining social order and leaders are assumed to be right; anShow MoreRelatedKohlberg s Six Stages Of Moral Development1987 Words   |  8 PagesExam One 1. a. Kohlberg’s six stages of moral development are complex yet very applicable ideas to moral development. The whole point of his six stages is to set the foundation for one’s ethical behavior with a psychological approach. The first stage of moral development is the â€Å"punishment/ obedience orientation†, which refers to how people will only focus on the consequences of certain actions. For example, when a student in elementary school brings a toy weapon to school after being told notRead MoreKohlberg s Six Stages Of Moral Development1575 Words   |  7 Pagesappropriate punishment. 2. Kohlberg’s six stages of moral development can be applied to corporations. Corporations are made up of individuals, and the corporate culture can contribute to an individual’s moral decision making. Mintz tells us that â€Å"an individual’s moral development can be influenced by corporate culture, especially ethics training.† (p. 58) Since the corporate culture can so heavily influence individual ethical decision making, the stage of moral development of the corporation is importantRead MoreKohlberg : Theory Of Moral Development997 Words   |  4 PagesLawrence Kohlberg: Theory of Moral Development Lawrence Kohlberg was a well known psychologist best known for his thorough research into the development and better understanding of the processes needed to grow into a well developed human being. Kohlberg grew up in New York City on October 25, 1927. Growing up in such a diverse area is what struck his interest in the development of all beings. In only one short year he received his bachelors degree and then went on to devote his career to study theRead MoreMoral Development : What Are Morals And How Are They Developed? Essay898 Words   |  4 PagesMoral Development: Jimmy What are morals and how are they developed? The word moral has many definitions to define its meaning. In this case the proper definition to define moral would be â€Å"of or relating to principles of right and wrong in behavior† (Moral, n.d.). This definition is pertaining to one’s judgment. Kohlberg is the psychologist who developed a theory on moral development. He used ideas from Piaget and developed his own theory. His theory will be discussed throughout this easy, whileRead MoreMoral Development And Gender Related Reasoning Styles Essay975 Words   |  4 Pages Moral Development Gender-Related Reasoning Styles Lawrence Kohlberg (who was Director of Harvard s Center of Moral Development), was a child development expert of his time, and considered himself a philosopher of morality. His work on stages of moral development proved indispensable (though not without its critiques), and continues to serve as a fundamental study on our motivation and reasoning, in relation to ethics and morality. Kohlberg s studies are an adaptionRead MoreKohlberg s Theory Of Moral Development And Moral Maturity Essay1305 Words   |  6 PagesIntroduction: Lawrence Kohlberg (1927–1987) is the pioneer of the theory of stages of moral development and participated actively in the development of the fields of moral psychology and moral education. Kohlberg was especially inspired by Jean Piaget, a Swiss psychologist who created the theory of cognitive development. Mark Baldwin, John Dewey, and George Herbert Mead also influenced his thinking (Barger, 2000; Encyclopedia of Education, 2002). In this paper, I will analyze in-depth Kohlberg’sRead MoreJean Piaget And Lawrence Kohlberg892 Words   |  4 Pagesaged, did you ever notice that your understanding of right and wrong principles changed? According to psychologists Jean Piaget and Lawrence Kohlberg it should have. Individually the two psychologists have made remarkable discoveries on how children develop and use their moral development. Jean Piaget, grew up in Switzerland in the late 1890’s and early 1900’s with his father, who was a dedicated historian. Around Paget’s early twenties he had the privilege of working with many influential peopleRead MoreThe Philosophy Of Jean Piaget And John Dewey1387 Words   |  6 Pagessmuggled Jews across enemy borders, Lawrence Kohlberg always wondered if he was a â€Å"good† man. What was more noble; protecting human lives, or upholding the law? Kohlberg, inspired by the philosophy of Jean Piaget and John Dewey, began researching ways to determine moral righteousness. Using his experience as a war veteran, he created mock simulations where one needed to choose between two distinct options. Kohlberg used these simulations, known as moral dilemmas, to observe the differences in answersRead MoreShawshank Redemption Analysis - Kohlberg and Maslow connection!1281 Words   |  6 PagesLawrence Kohlberg, a famous psychologist, developed a theory which ent ailed six stages of moral development. The aim of his theory is to allow individuals to be characterised into one of the stages, based upon their moral ethical well-being. Life experiences usually allow further development, thus moving the individual to advance to higher stages. On the other hand, Abraham Maslow developed a different theory based on human s most basic needs which is represented in a pyramid type figure containingRead MoreThe Theory Of Moral Development Essay1398 Words   |  6 Pagestheory of moral development was developed by psychologist Lawrence Kohlberg and is a very interesting subject that stemmed from Jean Piaget’s theory of moral reasoning. this theory helped us to develop the understanding that morality starts from the early childhood years and can be affected by several factors. This theory encompasses the ideas that moral reasoning, which is considered the basis for moral behavior, has six identifiable developmental stages. According to Kohlberg the six stages of moral

Sample Finance of External Sources

Introduction A company has a wide range of sources to finance different activities in the business. Company can choose from various sources of finance depending upon the amount of capital required by them and also the time period for which the capital is needed. Companies mainly need capital to finance their expansion plans, to buy new machinery or to enter in the new market. Before taking the finance the company must evaluate various parameters because it will help in selecting the best available source of finance (Rigby, 2011). Some of the parameters that should be considered are as follows: Finance cost of the fund Tenure (Time period for which the fund is needed) Amount of leverage fund Financial conditions prevailing in the economy Risk associated with the company, as well as, with the industry in the company functions. The Financial sources of business can be classified by following basis: According to period Long term sources Medium term sources Short term sources According to ownership Owners capital or equity capital, retained earning Borrowed capital, such as debentures, public deposits, loans According to source of generation Internal sources External sources There are mainly two sources of finance in the business i.e. Internal Sources of Finance and External Sources of finance. In the Internal Sources of finance, fund is obtained from inside the business. Financing from this option is very cheaper as compared to the external sources of finance (Read, 2002). In case of the external sources of finance, money if generated from outside the business and on this amount of finance, the company has to pay some amount of interest that can be fixed or variable. The various finance options in each source are as follows: Internal Sources of Finance Retained Earning Owners Capital (Generated from internal sources) Current Assets Sale of Fixed Assets External Sources of finance Bank Loan or Overdraft Share Issue Leasing Hire Purchase Mortgage Trade Credit Government Grants External Sources of finance An external source of finance is the method of raising funds from outside the business. In this source of finance, the company buys money from the financial institutions or from any other medium like shareholders, government, etc. On these funds, company has to pay an agreed amount of interest at the fixed interval over a set period of time. These sources can be for medium or long term period. Medium term finance refers to the funds which are required for the period exceeding one year but not more than five years, and long term finance refers to the funds that are required for the period exceeding 5-10 years (Dlabay Burrow, 2007). Generally, these funds are required for the investment in fixed assets like plant, machinery, starting new business, entering the new market or for expansion purposes. Different External finance sources in detail are as follows: Shareholders Capital This is the most commonly used source of finance, used by all listed companies. Large companies typically generate the finance both publicly and privately. Companies issue their stocks in the open market and these shares are taken by the general public at predefined price. In this way, people who have invested in the company become the shareholder of the company and these shareholders ultimately become the owner of the company. As per an expert opinion, shareholders capital is one of the best ways to generate long term finance (Moynihan Titley, 2001). The big advantage of this source of finance is that companies dont have to repay the interest on the amount collected. The individual or group of people, who had subscribed to shares of the company become the owner of the business and also gets the rights in the part of the distributed profits of the company. Companies can issue two types of shares in the open market i.e. Common stock, also known as owners capital, and preferred stock. Common Stock or Owners capital A quoted company can raise funds for long term purpose by issuing common stock in the general public. Some of the characteristics of this type of capital are as follows: It is the source of permanent capital and equity shareholders are the ultimate owners of the company as they are only who bear the risk. Common stockholders are entitled to dividends after all the other claims of stakeholders are paid. So, dividends to common stockholders are paid from the appropriation of profits and not charge against the profit. Generally, the capital cost of common stock is high because the fact is that such shareholders invest only in those companies, where there is a higher rate of return and low risk (Albrecht, Stice Stice, 2010). Advantages and disadvantages of raising funds by the issue of common stock are as follows: In this source of finance, the capital raised is not to be paid back to investors. So, the company does not have any liability for cash outflow regarding the redemption of this capital. This source of finance builds up the financial base for the company that helps further to buy the other sources of finance. Companies are not legally liable to pay dividends to the common shareholders. So, at the time of uncertainties or when the company is not doing well, the dividend amount can be reduced or even postponed. By this source of finance, the company can raise more funds by making the right issue. Company can also buy back the shares in the open market or announcing the buy back, which will reduce the amount of extra capital not required by the company. Apart from the above mentioned advantages, there are also some disadvantages that are explained below: This source of finance has a high cost because dividends do not involve any tax deduction and also the floatation cost (expenditure at the time of raising the capital) of such issue is higher. This source of finance is regarded as the most risky as there is uncertainty in the amount of dividends and the capital invested. The issue of further common stock reduces the earning per share amount of older stockholders until the profits are distributed according to the proportion of the existing and recently issued stock. The right issue also reduces the proportionate ownership of the existing shareholders, and ultimately dilutes the control power of the previous investors. Preferred Stock This type of stock is somewhat similar to the common stockholders. The major difference in both types of stocks is that in the common stock, it is not legally compulsory to pay any dividends, but in case of the preferred stock, it is compulsory to pay a fixed amount of dividend (Megginson Smart, 2008). Characteristics of the preferred stock are as under: This is the long term source of finance and can be raised by issuing the preferred stock in the common public. The dividend payable on this stock is Cumulative in nature i.e. dividend which is to be paid in any particular year but unfortunately due to the loss it remains unpaid, then such dividends carried over to the next year till there are adequate profits. The rate of dividend is generally higher than other rates of interest on bonds and loans. The fund received on the issue of this stock has to be repaid after a particular time period. There are some advantages of the preferred stock, like these stock do not attract ownership in the company and the dividend amount is fixed. Therefore, the preferred stockholders do not participate in the surplus profits as in the case of the common stockholders. This type of capital can be redeemed after the specified time period and also it does not affect the EPS on further issue of stock. There are mainly two disadvantages associated with this type of finance, one is that there is no tax advantage on the amount of the dividend paid and the other one is that the preferred dividends are cumulative in nature. Bonds In this type of financing, funds can be raised by issuing bonds in the name of the listed company. Generally, these bonds are issued to the general public, but they can also be issued to the financial institutions in lieu of the equivalent amount of loans. Basically bonds are issued in different market rates, but the face value carries the fixed amount, which is defined before issuing the bonds. These bonds are issued on the basis of bond trust deed that contains the terms and conditions on which the bonds are floated. Bonds can be secured or unsecured. Secured bonds are those bonds that have a charge on the Non-current assets of the company and carries low rate of interest. On the other hand, unsecured bonds are those bonds that are issued at a high rate of interest, but do not create the charge on the non-current assets of the company (Nevitt Fabozzi, 2000). This source of finance is more favorable to investors as compared to the preferred stock because interest on bonds is payabl e whether or not the company makes earnings. The cost of bond is much lower than the cost of preferred stock as tax is deducted on the amount of interest paid on bonds. Also, investors consider this source of finance as the safest to invest because bond holders receive their amount prior to the preferred and common stockholders. The main disadvantage of bond financing is that the interest and capital repayment are obligatory payments. This source of finance also enhances the financial risk as the amount of debt is increased (Mayo, 2011). Loan from Banks or financial institution The easiest source of finance is financing through commercial banks or finance institution. The main purpose of banks is to provide loans to the needy persons and earn interest on the amount of the loan given. Generally, banks provide short term loans, but now banks have started taking interest in the long term source of finance. The loans provided by banks or finance institutions are available at different rates of interest under different schemes and these are to be repaid according to the defined payment schedule. Generally, banks provide for the purpose of expansion or for setting up the new units (Werner Stoner, 2010). Apart from the bank loan facility, there is another type of financing called as Venture capital financing. In this type of financing, capitalists finance the high risky venture promoted by the qualified entrepreneurs. The venture capitalist makes investment to purchase the common stock and bonds issued by the company. In this way, they become the partial owner of the company (Coyle, 2000). Lease Financing Lease financing is the general contract between the owner and the user of assets for the specified time period. In this type of financing, the lessor initially purchases the assets and thereafter, leases it to the lessee company. The lessee company pays a fixed amount at the periodical interval for the specified time period (Graham, Smart Megginson, 2009). Lease financing is divided into two categories on the basis of the ownership, one is the operating lease and the other one is the financing lease. Conclusion At last, it can be concluded that there are several sources of finance available to the company. Sources of finance mainly depend upon the need of the company. In this way, these sources of finance can be sub divided into internal and external sources of finance. To meet the long term finance needs, there are many sources of finance available to the company. Some of the sources are share capital (common and preferred), bonds, venture capital financing, lease financing, etc. All these sources of finance have some advantages and some disadvantages, which is judged on the basis of the term these sources can be used, cost of capital, tax benefits, ownership, tenure of the finance and most important on the basis of the amount of money outflow for raising the funds. References Albrecht , W. S., Stice, E. K. Stice, J. D. (2010). Financial Accounting. Mason: Cengage Learning.Coyle, B. (2000). Venture Capital and Buyouts. USA: Global Professional Publishing.Dlabay, L. R. Burrow, J. L. (2007). Business Finance. Mason: Cengage Learning.Graham, J. R., Smart, S. B. Megginson, W. L. (2009). Corporate Finance: Linking Theory to What Companies Do + Thomson One - Business School Edition 6-month and Smart Finance Printed Access Card. Mason: Cengage Learning.Mayo, H. B. (2011). Basic Finance: An Introduction to Financial Institutions, Investments, and Management. Mason: Cengage Learning.Megginson, W. L. Smart, S. B. (2008). Introduction to Corporate Finance. Mason: Cengage Learning.Moynihan, D. Titley, B. (2001). Advanced Business. New York: Oxford University Press.Nevitt, P. K. Fabozzi, F. J. (2000). Project Financing. London: Euromoney Books.Read, L.H. (2002). The Financing of Small Business: A Comparative Study of Male and Female Small Business Owners. New Yor k: Routledge.Rigby, G. (2011). Types and Sources of Finance for Start-up and Growing Businesses. Britain: Harriman House.Werner Stoner (2010). Modern Financial Managing; Continuity and Change. Freeload Press, Inc.Griffiths, M. 2013. Agile Requirements Uncertainty. [Online]. Avalibale at: https://leadinganswers.typepad.com/ [Accessed on: 30 August 2014].Kumar, M., Antony, J., Singh, R.K., Tiwari, M.K. and Perry, D. 2011. Implementing the Lean Sigma framework in an Indian SME: a case study. Production Planning Control 17(4), pp. 407-423.

Theoretical Underpinnings of Human Resource Development

What are the theoretical underpinnings of HRD? The following are the three main theoretical underpinnings of Human Resource Development i.e. economic theory, system theory and the psychological theory. The economic theory of Human Resource Development is concerned with the allocation of scarce resources to the most efficient needs.Advertising We will write a custom essay sample on Theoretical Underpinnings of Human Resource Development specifically for you for only $16.05 $11/page Learn More According to research which was done by Weinberger (1998), Human Resource Development has both costs and benefits and therefore, a choice has to be made in order to satisfy all the wants. Human Resource Development is aimed at providing an organization with the financial advantage. Human capital is the key ingredients that are available for producing goods and services. This implies that an organization must continually invest in human capital in order to influence i ts financial benefits. Investment in human capital can exist in form of enhancing their skills, knowledge and physical wellbeing (Swanson, 2009, Pg. 203). The skills and knowledge that employees have are of major economic value to the firm since they influence the productivity. Employees thus act as the organization’s competitive advantage and therefore, the organization should embark on investing in its human capital (Weinberger, 1998, P.11-16). Psychological theory of HRD is concerned with the manner in which the employees interact with the environment and with each other. The interaction between the employees and the environment determines their behaviors, attitudes and values. According to this theory, HRD should aim at overcoming individual limitations, help individuals meet their personal goals and enhance creation of synergy. Usually, every one within the organization is expected to act towards realizing the goals and objectives of the organization (Weinberger, 1998, P .11-16). System theory of HRD views an organization as a system that is organized to attain set objectives. According to this theory, an organization has inputs, outputs and processes that are involved in the realization of its objectives or in carrying out its activities. The inputs refers to the aspects that enables an organization to operate e.g. manpower, raw materials, finance e.t.c.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Processes entails the policies and operations that are followed in an organization. Outputs entail the processing results in an organization e.g. the employees’ performance. HRD must thus strive to understand how the systems interact within the organization for the organizational duties to be carried out effectively and efficiently (Weinberger, 1998, Pg.11-16). How have these theoretical underpinnings shaped HRD? These theoretical underpinnings have en hanced the concept of workplace learning. They have shaped HRD by unleashing human expertise. This in turn plays an important role of enabling people to perform their work faster, cheaper and better. Workplace learning enables an organization to compete successfully with others in a global economy as it provides the employees with more skills and education to perform their work effectively. Today’s workplace calls for employees to posses more generic skills such as communication skills, problem solving and decision making among others (International Labor Office, 2000, Pg.14). The theoretical underpinnings have shaped the HRD in that they have eliminated the employees’ skills gap. They have in turn enhanced competitiveness and productivity. Employers are thus concerned with matching the employee’s skills and the job requirement skills. For organizations to perform well there is need for the HR managers to higher reliable employers who have higher problem solving skills. The three theoretical underpinnings have therefore enabled the Human Resource Development professionals to enhance the skills and knowledge of employees and in turn enhance the firm’s effectiveness. Successful companies across the globe have realized that their success is attributed to their human capital. These theoretical underpinnings have shaped HRD by making it development oriented. HRD professionals across the globe are now focusing on developing the potential of the human resources in order for them to perform their organizational duties well and to attain the overall objectives. The HRD professionals strive to help human resources realize their full potential. This plays an important role in ensuring that human resources are competent (Sims, 2006, Pg.18).Advertising We will write a custom essay sample on Theoretical Underpinnings of Human Resource Development specifically for you for only $16.05 $11/page Learn More Looking forwar d, where do you believe the field is  headed? Human Resource Development is not an old discipline as opposed to many fields such as career development. The HRD is yet to acquire some of the attributes that are required for a profession, that is, it is yet to achieve the global standards. This implies that the future of HRD is characterized with numerous challenges. Some of the challenges that the HRD may experience in the future includes technological innovation among others (CIPD, 2002, Pg.49). In order for the Human Resource Development field to be ahead of the game, there is need to consider investing in knowledge economy. Knowledge economy will allow the HRD professionals to run those activities that are current and up to date. It will also enable the professionals to make business decisions on time. With the global economy increasingly being changed into a knowledge economy, there is need for the HRD professionals to be proactive. HRD professionals should aim at designing an organizational curriculum that offers the employees a greater learning environment. The HRD professionals should create a learning environment that allows employees to fully exploit their potential and also participate in a range of knowledge work (CIPD, 2002, Pg.49). Reference List CIPD. (2002). Training in the knowledge economy. London: CIPD Publishing. International Labor Office. (2000). Training for employment: social inclusion, productivity and youth employment: human resources training and development: vocational guidance and vocational training, Issue 5. Geneva: International Labor Organization. Sims, R. (2006). Human resource development: today and tomorrow. New Delhi: IAP.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Swanson, R. A. (2009). Foundations of Human Resource Development: Easy read Large Bold Edition. London: ReadHowYouWant.com. Weinberger, L.1998. Commonly held theories of Human Resource Development.Vol.1.Issue No.1. London: Routledge. This essay on Theoretical Underpinnings of Human Resource Development was written and submitted by user Jagger Walter to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.