The Journal of American Academy of Business, Cambridge is indexed in the CABELL'S, and ULRICH'S DIRECTORIES of Refereed Publications.   The primary goal of the journal will be to provide opportunities for business related academicians and professionals from various business related fields in a global realm to publish their paper in one source. The Journal of American Academy of Business, Cambridge will bring together academicians and professionals from all areas related business fields and related fields to interact with members inside and outside their own particular disciplines. The journal will provide opportunities for publishing researcher's paper as well as providing opportunities to view other's work.  All submissions are subject to a two person blind peer review process.

The Journal of American Academy of Business, Cambridge is published two times a year, March and September.  The e-mail: drsenguder@aol.com; Website, www.jaabc.com  Requests for subscriptions, back issues, and changes of address, as well as advertising can be made via the e-mail address above. Manuscripts and other materials of an editorial nature should be directed to the Journal's e-mail address above. Address advertising inquiries to Advertising Manager.

ISO9000: 2000 Quality Management Systems Standards: TQM Focus in the New Revision

 Dr. C. P. Kartha

 ABSTRACT

 The international Standards Organization in 1987 developed a set of quality standards, the ISO9000 series, as a model for quality assurance standards in design, development, production, installation and service. The purpose behind the deployment of these standards was to simplify the global exchange of goods and services by developing a common set of quality standards. They provide a universal framework for quality assurance and quality management. The standards were revised in 1994. The revised version is referred to as ISO9000: 1994.  A vast majority of organizations currently use this version.  The most recent revision of these standards, ISO9000: 2000 was published in December 2000. The revision adopts a systems approach to quality management and includes TQM principles and procedures. This paper examines the major changes and improvements in the latest revision in relation to ISO9000: 1994 and some of the issues involved in the implementation of the new standards.

The Ecology of Software: A Framework for the Investigation of Business-IT Integration

 Dr. Thang N. Nguyen

 Anthropomorphic and ecological views of e-business

 From an anthropomorphic view, we consider e-business over the Internet as a giant living human body, hence living species. From an ecological view, we extend the concept of business ecosystem by Moore (1993, 1996) to particularly include software as living species within business ecosystems. As depicted in Figure 1, we establish a parallelism between “e-business” driven by software (as living species) and non-software factors (e.g. funding – not shown in Figure 1) and “the natural ecology” conditioned by multiple living species and abiotic factors (such as temperature – not shown in Figure 1). Together, the two views give rise to the concept of e-business as an automation continuum that ranges from bits (microscopic) - to digital species - to business ecosystems (macroscopic).  We argue that this parallelism particularly helps define a framework for the investigation of Business-IT integration, structurally (anatomically), functionally (physiologically) and behaviorally.

A Look Over the Concepts of Work and Leisure Throughout Important Historical Periods

 Esin Can Mutlu, Ph.D. and Ozen Asik, M.A.

  ABSTRACT

 The present study attempts at an in-depth investigation of work, and another related concept leisure. Work and leisure are defined as two counterparts, and their co-existence is examined throughout historical periods. Leisure in Ancient Greece is an ultimate activity, and consists of cultivation of the soul through the arts. Work is seen as a degrading activity until Protestantism rises and praises it as a way to reach the God. Especially after industrialization, it is seen that work gains superiority over leisure. That is, leisure is seen as complementary to work, and just as work, it is influenced by aspects of industrialization as well. Current aspects involved in work and leisure enhance the same meaning and existence, leading though to more leisure in terms of availability of time thanks to technology.  In this paper, the concepts of work and leisure are defined and reviewed along important periods in history. Starting from the hunter-gatherer societies, the concepts are elaborated in the agrarian and industrial societies, followed by a conclusion regarding the current trends in work and leisure.

Cross-Cultural Differences in International Management Using Kluckhohn-Strodtbeck Framework

Dr. Lieh-Ching Chang

 ABSTRACT

 The purpose of this study is to show why the international manager needs to understand national culture. National culture has a great influence on how managers and employees make decisions and interpret their roles. In other words, the people with different nationalities work together will have different perceptions in their jobs. The study determines how far cultural factors also present opportunities and threats. Suppose that the values of your workforce are collectivist, and that that are most productive when working in groups. The collectivism works to your advantage if the task is performed in groups. On the other hand, if the task cannot be adapted to group work, and must be performed on a competitive and individual basis, this characteristic of the culture can pose a problem (Mead, 1998). In this study we also have been discussing the cultural differences of countries; that is, their differences in social structure, religion, language, education, economic philosophy, and political philosophy. We could use Kluckhohn-Strodtbeck (1961) framework to examine different cultures and develop strategies. It identifies six basic cultural dimensions: relationship to the environment, time orientation, nature of people, activity orientation, focus of responsibility, and conception of space.

Tacit Knowledge Management in Organizations: A Move Towards Strategic Internal Communications Systems

 Dr. Probir Roy

Preeta M. Roy 

ABSTRACT

To date, knowledge management systems have focused on explicit knowledge. In this paper we explore the need for the incorporation of tacit knowledge into strategic communication systems.  In order for these strategic internal communications systems to become effective, Internet Protocol (IP) Technology is a necessary ingredient.  IP Technology, through the use of Virtual Private Networks and Streaming Media, will permit organizations to achieve the three key components of tacit knowledge based strategic internal communications systems, viz. discovery, dissemination and collaboration.

Dividend Omission Announcement Effects, the Firm’s Information Environment, Earnings Volatility and Q

 Dr. Devashis Mitra and Dr. Muhammad Rashid

ABSTRACT

For a sample of dividend omitting firms’ stocks, the average returns variance increases significantly on day -3 (where the Wall Street Journal Index announcement date is day 0) relative to a prior estimation period, price spreads show significantly increased levels on days -1 and 0, and average Cumulative Abnormal Returns (CAR) are consistently negative between days -4 and 0 and significantly negative on day -1. These results suggest some anticipatory market uncertainty during the period immediately before the dividend omission announcement. The percentage increase in average returns variance for days -3 and -2 relative to the estimation period average is inversely associated with the firm’s approximate q measure and the dividend change yield from the previous quarter and positively associated with the percentage of institutional equity holding in the firm as well as with firm-specific earnings volatility, measured by the standard deviation of earnings per share. On average, the returns variance, percentage spread and earnings volatility  increase over a 365 day post-announcement period relative to 90 day pre-announcement levels. These results suggest heightened uncertainty for the aftermath of dividend omission. Also, on average, the number of institutions holding the firm's equity decline substantially one year after the announcement. This suggest less monitoring of these firms and enhanced informational asymmetry in the aftermath of the dividend omission announcement. The market’s risk perception subsequent to the dividend omission appears to increase more for firms with high historical earnings volatility and lower approximate q values.

Formal Business Planning and Small Business Success: A Survey of Small Businesses with an International Focus

 Dr. K. Shelette Stewart

ABSTRACT

This study examined the extent to which small businesses, with an international focus, are employing formal business planning techniques and the extent to which such techniques contribute to small business success.  The study was based on the hypothesis that small business success is associated with formal business planning.  Indicators of both formal business planning, the independent variable, and small business success, the dependent variable, were developed. Survey research was conducted to generate and analyze data gathered from 100 owners/operators of small businesses, with an international focus, located within the Atlanta Metropolitan Statistical Area (MSA).  A five-page questionnaire was developed and a survey analysis grid was designed.  The researcher found that those businesses practicing formal business planning techniques were more successful than those not employing them.  The conclusions drawn from these findings suggest that formal business planning contributes to the success of small businesses with an international focus.

Cost and Benefit Analysis of Wastewater Reuse in Kuwait

Dr. Jasem M. Alhumoud,

Dr. Abdulla M. Alhemoud

Dr. Tamama H. Abdullah

ABSTRACT

 Water is rather a scarce commodity in Kuwait. With rapid growth of population coupled with increasing urbanization and agriculture, the demand for water in Kuwait is continually on the increase. The main water source in the country is from desalination and small quantities from underground aquifers. Wastewater effluent could be a valiable source to augment this dwindling water supply, at least the irrigation supplies, and should not continue to be wasted. Reuse of wastewater effluent has the potential to both minimize the disposal of water to the environment and reduce the demand on fresh water supplies. This paper is an actual case study discussing in details the features of reuse, the processes used and standards adapted. Design data, operational results, and physical characiteristics for the three wastewater treatment plants (Ardiya, Jahra, and Riqqa) in Kuwait will be discussed. In addition, the paper reports the results of a research study undertaken to determine the willingness and level of awareness and knowledge among the people of Kuwait in using wastewater effluent for different purposes. Finally, cost and benefit analysis were conducted on the wastewater effluent and reuse. The study concludes with useful recommendations to both the authorities and the citizens of Kuwait.

Cultural Understanding and Consumer Behavior:  A Case Study of Southern American Perception of Indian Food

 Raymond Bailey and Dr. Robert Guang Tian, Erskine College, SC

ABSTRACT

The perception of consumers in ethnic restaurant settings greatly influences the consumption behaviors.  This primarily observation oriented study demonstrates the attitudes and awareness Americans in the Southern region have concerning the Asian-Indian ethnic group and their food.  It explores the consumer’s ideology and interpretation of different culture based on the experiences in an ethnically diverse restaurant. Consumer research is not a completely objective method of deriving results, to understand the reasoning behind actions in a society, one must understand the culture in which the logic is derived.  The social situations and operating environments are all factors in the determination of the results to which a study is oriented (Sanders 1987, Schiffman and Kanuk 2000).  The primary foundation for behaviors can only be evaluated from observation and then used to formulate opinions with the subjectivity of the observer and the desired effects (Tian, 2001; Shepherd, 1995).  The evaluation of a consumer is not a “pure science” of concrete results, but rather a section of a particular generalization. 

Cohesion Among Culturally Heterogeneous Groups

 Norman Wright, Ph.D. and Glyn Drewery

ABSTRACT

This paper examines the role of culture in explaining differences in self-reported evaluations of team cohesiveness in culturally diverse teams.  In earlier research, Thomas et al.  (1994) found that teams composed of culturally diverse members experienced less cohesiveness than did those in culturally homogenous teams.  Such findings make sense in light of similarity theory, which suggests that humans feel a greater attraction to those who are most similar to themselves (Nahemow and Lawton, 1983).  One might also profitably compare the cohesion of teams from various cultures.  In this study, however, the authors examine the role of nationality on perceptions of cohesion within a mixed-culture team framework.  Hypotheses are formed based on the conflict resolution style of each culture represented.  The results indicate a small but significant relationship between the nationality of the respondents and the degree of cohesion attributed to their mixed culture teams. Asians report the least cohesion followed by Anglos while Polynesians indicate the highest levels.  

 A New Method for Teaching the Time Value of Money

 Terrance Jalbert, Ph.D., University of Hawaii at Hilo, Hawaii

ABSTRACT

Students frequently experience difficulty in identifying the appropriate time value of money (TVM) technique to apply to a problem.  This paper surveys the TVM presentation in seven popular introductory finance textbooks.  A new presentation technique is then developed.  The presentation technique is based on a simple method for identifying the appropriate TVM technique to apply to any problem.  TVM techniques conducive to applying the calculations in a generalized setting are then presented.  Visual aids are provided to assist students in selecting correct techniques.  By using these techniques students are able to more easily identify appropriate TVM techniques.

Taking Note of the New Gender Earnings Gap: A Study of the 1990s Economic Expansion in the U.S. Labor Market

 Jongsung Kim, Ph.D., Bryant College, Smithfield, RI

ABSTRACT

This article examines the impact of economic expansion on the gender earnings gap in the U.S. labor market during the 1990s.  Using data from 1994 to 2001 Current Population Survey, this research employs the Blinder-Oaxaca decomposition method extended by Cotton along with the correction for selectivity bias.  The results show that the gender earnings gap has widened from 1994 to 2001.  The pattern of gender earnings gap described by the results of the decomposition analysis, overall and across three broadly defined occupational categories, is extremely consistent, indicating that women were adversely affected during the economic expansion in the 1990s.  The result of a slightly widened gender earnings gap casts doubts on the widely held optimistic expectation of narrowing of the gap developed over the past several decades.  In the future, labor policy should focus on changing labor market structure so that females will be treated equally with males to narrow the gender earnings gap.

Zen of Learning: Folkways Through Wisdom Traditions

 Dr. Satinder K. Dhiman

ABSTRACT

This paper discusses ten folk laws of learning. These laws are in the nature of musings about learning. The purpose of each law is to clear some psychological barrier to learning. These laws invite the learner to examine his or her assumptions and expectations about learning. These laws tell us that personal likes or dislikes may make for comfort but not for learning. No true learning can take place unless the learner is willing to undergo a shift of mind and to challenge his or her engrained habits of thought. These laws also bring out the importance of patience, humility, and sharing in the context of learning. To underscore the message, this paper draws heavily on quotes, anecdotes, and stories culled from the wisdom traditions of Taoism, Sufism, and Zen. This author has used these laws in his management-related classes, both at the undergraduate and graduate level. This methodology has helped this writer in orienting the students in the art and science of learning.  Besides, it clarifies several misconceptions about leaning during the early stages of the course. It is also in harmony with the growing literature on the concept of “Learning Organization” inspired by such management authors as Peter Senge and Max Depree.

Computer Crimes: How can You Protect Your Computerised Accounting Information System?

 Dr. Ahmad A. Abu-Musa

ABSTRACT

Computer crime is almost inevitable in any organization unless adequate protections are put in place. Computer crime has no longer become a local problem and security solutions cannot be viewed only from a national perspective, they have expanded from relatively limited geographical boundaries to become worldwide issues. Therefore, protecting computerised accounting information systems (CAIS) against prospective security threats has become a very important issue. The main objectives of this paper are to investigate the significant security threats challenging the CAIS in the Egyptian banking industry and the prospective security controls that are actually implemented to prevent and detect security breaches.  A self-administered questionnaire was used to survey the opinions of the heads of internal audit Departments (HoIAD) and the heads of computer departments (HoCD) in the Egyptian banking industry regarding the following CAIS security issues in their banks: 

Marketing on the Net: A Critical Review

 Dr. S. Altan Erdem, University of Huston-Clear Lake, Houston, TX

Dr. Richard L. Utecht, University of Texas at San Antonio, San Antonio, TX

ABSTRACT

While e-commerce has been having an incredible role in marketing over the recent years, there have been some concerns about its potential “not-so-positive” effects on certain business settings. Many believe that the some aspects of e-commerce require changes on some of the basics of marketing.  The purpose of this paper is to review some of these peculiarities of e-commerce and examine if they are likely to result in any changes in traditional marketing practices.  It is hoped that the review of this paper will provide the marketing practitioners with added incentives to explore the e-commerce ventures further and develop practical insights to better the use of the net in their marketing functions.

Using Cost-Benefit Analysis for Evaluating Decision Models in Operational Research

 Dr. Awni Zebda, Texas A&M University-Corpus Christi, Texas

Abstract

Operation researchers and management scientists have recommended that the use of decision models should be subject to cost-benefit analysis.  This paper provides insight into the cost-benefit analysis and its shortcomings as a tool for evaluating decision models.  The paper also identifies and discusses the limitations of alternative evaluation methods.  Understanding the limitations of cost-benefit analysis and the other evaluation methods is essential for their effective use in evaluating decision models. Over the years, management scientists and operational researchers have proposed quantitative and mathematical models to aid decision making in business organization.  Decision models for problems such as capital budgeting, cash management, manpower planning, profit planning, and inventory planning and control represent an integral part of management science/operational research literature as well as the literature of the functional areas of management such as accounting, finance, marketing, personnel management, and production and inventory management. The development and use of decision models can be costly.  Thus, establishing the value of these models is a necessary prerequisite for their use by practicing decision makers (e.g., Finlay and Wilson [1987], Hill and Blyton [1986]).  According to Gass [1983, p. 605], "the inability of the analyst [and researcher] to demonstrate to potential users ... that a model and its results have ... credibility [and value]" is one of the primary reasons that models are not widely used in practice.

An Empirical Note on the Impact of the Price of Imported Crude Oil on Inflation in the United Kingdom

 Richard J. Cebula, Ph.D., Richard D. McGrath, Ph.D., Yassaman Saadatmand, Ph.D., and

Michael Toma, Ph.D., Armstong Atlantic State University,  Savannah, GA

ABSTRACT

This study empirically investigates whether the assumption by the Bank of England that rising prices on imported crude oil lead to domestic inflation in the United Kingdom has had validity. In a model where real GDP growth and money stock growth are both all allowed for, empirical estimation reveals compelling evidence for the validity of this assumption. In particular, the greater the percentage increase in imported crude oil prices, the greater the domestic inflation rate. In addition, oil price shocks involving imported crude oil price hikes of 40 percent or more in a given year further elevate the domestic inflation rate.

Application of Taguchi Methods for Process Improvement for Tubular Exhaust Manifolds

 C.P. Kartha, Ph.D., University of Michigan-Flint, Flint, Michigan

 ABSTRACT

Taguchi Methods refer to quality improvement activities at the product and the process development stages in the product development cycle.  It is based on the realization that significant improvement in quality can be achieved by engineering quality into a product at the front end of the product cycle, which is the design stage rather than at the manufacturing stage.  This paper discusses the theoretical and the practical aspects of Taguchi Methods.  An application of Taguchi Methods to optimize a production process is also discussed in the paper.  The process involves production of an automotive exhaust manifold which had a quality problem involving excessive weld in a port opening that restricted passage of the required gauge and prompted a hand grinding operation.  Through a Taguchi experiment the problem was successfully solved eliminating the tedious hand grinding process.  The improved process also resulted in significant cost reduction and increased efficiency.

Comparative Assessment of the Resume and the Personal Strategic Plan: Perspectives of Undergraduate Business Students, Human Resource Professionals and Business Executives

 Lee R. Duffus, Ph.D., Florida Gulf Coast University, Florida

ABSTRACT

This research sets out to assess the perceptions of the relative efficacy of the resume and the Personal Strategic Plan (PSP) as vehicles for employment prescreening, career development, and job advancement. The target groups were undergraduate business students, human resource professionals and business executives. The results indicate that respondents perceive the resume as adequate for employment prescreening situations. However, compared to the PSP, the traditional resume is perceived as less effective in communicating nuanced information on individual characteristics that will position and advance current employees along the career ladder toward attainment of their career objectives. The study concludes that human resource specialists should emphasize increased usage of the PSP among current managerial employees instead of the traditional resume for situations involving career development or job advancement. This will improve both the efficiency of the prescreening process, and enhance the likelihood of employment decisions that are congruent with the strategic human resource needs of the organization and the career objectives of the employee.

Course Content on Managed Care: The Graduate Program in Health Services Administration at Florida International University

 Kristina L. Guo, PhD, MPH, Florida International University, North Miami, FL

ABSTRACT

Education on managed care is essential to student career advancement and organizational survival.  To ensure that students are adequately prepared to face and manage in the evolving managed care environment, this study discusses the degree of coverage on managed care concepts in the curriculum of the Graduate Program in Health Services Administration at Florida International University.  Using the 3^rd Year Progress Report to the Accrediting Commission on Education in Health Services Administration and courses syllabi, the findings indicate that of the 17 graduate courses in HSA, 14 courses offer a wide range of managed care content.  Through an interdisciplinary approach and continuous curriculum improvement, faculty emphasize upon critical skills and knowledge which enable students to analyze and respond to managed care challenges in actual health care practice.

Global Economic Scenarios:  In the Twenty-first Century for the Future of World Economic Development–The Allen Hammond Scenarios Projections for the Future

 Richard G. Trotter, Ph.D., University of Baltimore, Baltimore, MD

ABSTRACT

This paper is an examination of world capitalism and economic and social development in terms of Allen Hammond’s book, Which World?  Scenarios for the 21^st Century (1) which sets forth three scenarios for world economic and social development for the next fifty years.  Hammond, in his book, develops three scenarios for world economic development; (1) Market World, (2) Fortress World, (3)Transformed World.  This paper looks at these three scenarios in terms of world economic trends as well as the value systems of the societies in question.  Additionally, global trends will be looked at in terms of such prescriptions for economic performance as privatization, free trade, and equitable distribution of income. The major areas of the world will be examined in terms of how efficiently these strategies and prescriptions for economic success and development have been implemented and how successful they have been.  With the fall of Communism in 1989 and the spread of market capitalism throughout the world in the 1990s, it was assumed by many practitioners and scholars that world capitalism was the key to human hope, prosperity and development.  In the first decade of the twenty-first century the optimism of the last decade of the Twentieth Century is being reexamined in terms of the realities of market capitalism as a panacea of human development.  Additionally, societies are questioning in terms of their own particular values what kind of economic and social system they want and the trade off that the society is willing to make with respect to the benefits and burdens of market capitalism. 

Security of Computerized Accounting Information Systems: An Integrated Evaluation Approach

 Dr. Ahmad A. Abu-Musa, Department of Accounting & MIS, KFUPM, Saudi Arabia

 ABSTRACT

 Evaluating the security of CAIS is not an easy task. Reviewing the available literature in this area reveals a lot of confusion and inconsistencies since research in evaluating the security of information system is considered to be in its infancy.  In this paper, evidence regarding the need as well as the importance of evaluating the security of CAIS has been covered. The alternative approaches for evaluating CAIS security used and implemented in previous literature are presented. Moreover, the requirements for selecting appropriate security countermeasures as well as implementing an effective evaluation security technique have been discussed.

 Security of Computerized Accounting Information Systems: A Theoretical Framework

 Dr. Ahmad A. Abu-Musa, Department of Accounting &MIS, KFUPM, Saudi Arabia

ABSTRACT

It has been claimed that “security of computerized accounting information system (CAIS)” is ill-defined term in the accounting literature.  The current paper is conducted in response to numerous calls for research, that have emphasized the necessity of conducting theoretical research to enhance the body of knowledge concerned with CAIS security. The paper addresses the concept of CAIS security and its main components in an attempt to clarify confusion in that area. Through theoretical conceptualization of information and systems security an integrated theoretical framework of CAIS security has been introduced.

Monte Carlo Approach with Acceptance/Rejection Sampling for Extracting Signals from Economic Time Series

 Jae J. Lee, Ph.D., State University of New York, New Paltz, NY

ABSTRACT

This paper explores a Monte Carlo approach to deal with the parameter uncertainty in extracting signals from economic time series.  This paper explores the use of Monte Carlo integration with Acceptance/Rejection Sampling.   This approach assumes that a set of unknown parameters is a random vector so that the parameter uncertainty can be eliminated by integrating out the vector. By running a simulation study, this approach compares with the commonly used approach in terms of mean square errors.

Toward An Interdisciplinary Organizational Learning Framework

 Dr. Tony Polito, East Carolina University, Greenville, NC

Dr. Kevin Watson, Marist College, Poughkeepsie, NY

ABSTRACT

Organizational learning theory is multidisciplinary. There is no current consensus regarding a model for organizational learning theory. Even a consistent definition of organizational learning has been elusive within the literature, though typologies of organizational learning theories are found. This paper searches for points of agreement regarding organizational learning among organizational theorists, then gives special attention to the economic perspective of organizations and learning. Organizational learning is comprised of both behavioral and cognitive processes; higher-level learning, unlike lower-level learning, involves adaptation. Researchers disagree as to whether either change or effectiveness are requisite to organizational learning. Researchers generally agree that organizational learning that does effect change involves systematic shock anticipated by tension, but differ regarding the constitution of that shock and tension. Specific economic perspectives of the firm can also provide a framework for organizational learning theory. Much of the neoclassical theory of the firm, a set of human‑resource holders maximizing profit under a known production function, is under question. Organizational theorists now generally embrace the relevant transaction cost and agency perspectives. Harvey Leibenstein, Harvard economist, views the firm in terms of internal efficiency, embraces Argyris & Schön’s perspective of organizational learning as a process of error handling, sees the individual actor’s motivation to admit, detect and correct error as a special case of the productivity problem, and analyzes it from a game‑theoretic, agency‑like manner. Leibenstein’s perspective respects much of the noted concordance regarding organizational learning.

The dilemma of Governance in Latin America

 Dr. José Gpe. Vargas Hernández, Centro Universitario del Sur,Universidad de Guadalajara, México

The last decades of the 20th century have seen the institutions of governance in Latin American countries affected by small macroeconomic achievements and reduced economic growth, and the development of an extremely fragile democracy.  The implanting of the new model of neoliberal state consolidation has come at high cost, and has not produced either the expected strengthening in the political, economic and social spheres, or the expected gains in efficiency, equity and freedom. This so-called economic liberalization has generated institutional instability in the structure and functions of the state, limiting the reaches of democracy and legality, and ensuring that the effects of the associated managerial orientation which has transformed public administration are largely negative.  Looking forward into the 21st century,  a pessimistic prediction is that these tendencies will continue, producing similar unstable mixes of democratic populism and oligarchic pragmatism.  More optimistically, the Latin American states may come to see that genuine social development is necessary for sustained economic growth, and introduce policies to achieve that outcome.

Changes of Economic Environment and Technical & Vocational Education in Korea

 Dr. Namchul Lee, and Dr. Ji-Sun Chung, Korea Research Institute for Vocational Education & Training, Seoul, Korea,

Dr. Dennis B. K. Hwang, Bloomsburg University, Bloomsburg, PA

 ABSTRACT

The purpose of this paper is to investigate the changes of economic environment and in technical & vocational education since 1985.  This paper provides the basis of annual updates and identifies trends of implemented policies in the field of technical and vocational education. In addition, this paper is intended to provide useful information about the current status and future direction of technical vocational & education in Korea for government policy makers and school educators. Expected changes in the industrial structure of the nation would require changes in the emphasis and weight-age given to the technical vocational education (hereafter TVE) system in Korea. The Korean economy has been transforming from manufacture industry to a knowledge-based structures owing to the continuous development of new technology, especially information and communication (OECD, 1996).  These trends have two important implications for technical and vocational education programs.  They signal an ongoing shift in the education and training fields that are required of the Korean workforce as well as shifts in the levels of the education and training. TVE programs that prepare students for knowledge-based manufacturing jobs include high technology, medium-high technology, information communication technology (ICT), finance, business, health, and education. 

An Exploratory Analysis of Customer Satisfaction

 Dr. Turan Senguder, Nova Southeastern University, Ft. Lauderdale, FL

ABSTRACT

Satisfaction is the consumer's fulfillment response.  It is a judgement that a product or service feature, or the product or service itself, provided a pleasurable level or consumption-related fulfillment, including levels of under or over fulfillment.  Here, pleasurable implies that fulfillment gives or increase pleasure, or reduces pain as when a problem in life is solved.  Dissatisfaction is the displeasure of underfulfillment can be dissatisfying.  It is well known among marketers of "style" goods that one purpose of new products is to create dissatisfaction with the prevailing style - a common strategy of automobile companies through the release of new models. A first-time consumer: Imagine a consumer with no experience in buying a particular product.  Having an interest in its purchase, the consumer might read advertisements and consumer guides to acquire information.  This information, usually regarding benefits the product will deliver, provides the consumer with expectations about the products likely performance.  Because a number of suitable alternatives are available, this consumer must choose among them. Thus choosing one alternative requires that consumer forgo the unique feature of the others.  This creates two problems.  First, the consumer may anticipate regret if the chosen alternative does not work out as well as other choices might have. Second, until the consumer has consumed, used, or sufficiently sampled the product (as in driving a car over a period of time), an apprehension or tension, known more commonly as dissonance, will exist over whether the choice was best.  Once the product is used and its performance evident, the consumer is in a position to compare actual performance with expectations, needs or other standards resulting in an expectation-performance discrepancy.

A Perspective on Team Building

 Dr. Jean Gordon, Barry University, Miami, Florida

INTRODUCTION

The way we work is changing.  Middle management has been reduced to its lowest level and organizations are flattening their structures causing generation of new business process methodology.  Many of the changes being experienced are a result of restructuring, mergers and acquisitions, global competition and changing work trends.  Teams are becoming more of the norm in this new workplace and teams are seen as one way of leveraging organizational strengths to offset new challenges.  Research has shown that team building takes time and effort to produce systematic, lasting results.  Furthermore, teams are beginning to change the way workers work and organizations are beginning to realize that a “we” culture may better suit business needs than the traditional “I” culture. 

Factors Affecting Customer Loyalty in the Competitive Turkish Metropolitan Retail Markets

 Altan Cöner, Ph.D., Graduate School of Business, Yeditepe University, Istanbul, Turkey

Mustafa Özgür Güngör, MBA, Graduate School of Business, Yeditepe University, Istanbul, Turkey

ABSTRACT

Dynamic behavior of markets, adaptation to diverse social segments and flexibility needed for each individual consumer are the challenges marketing face today. One of the main drivers of this one-to-one marketing era is the increasing capability that technology renaissance of 1990s brought forward, and the other is the evolution of customer relationship management (CRM). The need to build effective relationship with the customer became more essential for the businesses to remain competitive. Therefore, CRM is implemented as a combination of the managerial and marketing issues with detailed collection and analysis of customer related data. Moreover, the importance of the understanding of behavioral moves of customer to develop a better relationship in response to the need to keep them satisfied brings forward customer loyalty management as a critical issue for any business acting in highly competitive markets. This paper is a presentation of the findings of a research focused on the examination of the factors acting on customer loyalty. The research has been carried out in the metropolitan Turkish retail markets where intense rivalry exists.