Analysis Of Timothy Egan s The Big Burn Essay - 958 Words

On April 29, 1910, the largest forest fire in American history occurred. Some would come to know it as the Big Burn, or the Big Blowup. Later others called it the (the one that says it saved American landscape.) This travesty took more than 100 men. The impact it had on Americans was monumental. Timothy Egan’s The Big Burn, he writes about the many people who perished during this disaster. Stories of people who were engulfed by the flames at Bitterroot Mountain who had little chance of escaping their devastating fate. Even though this is still seen as a travesty, some look at it in a different way. Due to how large the fire was and how far it stretched, it made people aware of the importance to protect Americas forests and natural resources. During the late eighteenth and early nineteenth century, reform was occurring. The United States population was on a rise which had an effect on economic growth. This caused expansion in the consumer market and made way for an enormous am ount of advancement in technology. Due to all of this, the demand for natural resources vastly increased. Inventions such as cars and trains consumed massive amounts of fossil fuels. Wood was stripped away from forests to make comfort items such as chairs, tables and other items for the large number of families now setting in the United States from foreign countries. People did not seem to pay much attentions to the effects these changes were having on the land. However, President Theodor Roosevelt hadShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOrganizational Behavior This page intentionally left blank Organizational Behavior EDITION 15 Stephen P. Robbins —San Diego State University Timothy A. Judge —University of Notre Dame i3iEi35Bj! Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Director of Editorial Services:

Management Strategy Supermarket Industry

Question: Discuss about theManagement Strategyfor Supermarket Industry. Answer: Ways of Making Money by Firms in the Supermarket Industry In the supermarket industry, firms operate by way of retail stores in different size and shapes that incorporates low profit margins. Supermarket industry provides easy access to the customers to meet their requirements as per the standard of living that helps in generating revenues. The firms involved in the supermarket industry operates to create value by following the current trends results in generating values, profitability and economies of scale. The procedure that the firms follow in the supermarket industry involves purchase of products in bulk quantity at lower rates and offers the products to customers at lower prices (Liao, Rice Lu, 2015). Further, supermarket industry associates with the updated style of marketing products and consumer services by using the technological advances. Such marketing and service system enables the firms to make money as well as increase turnover. Besides, in view of the grocery sales, supermarket industry experiences fall in revenue and there fore attempts to derive low profits. As a result, cost of firms increases including higher amount of tax and duties. Therefore, it can be said that the supermarket industry is not attractive for all sales sectors (Dawar Stornelli, 2013). Financial Ratio Analysis Reflecting Different Strategies and Competitiveness Whole foods Kroger Safeway Supervalu Gross margin ratio 35 79 73 78 Assets returns ratio 235 385 289 300 Return on assets 8 3 3 -9 Return on equity 11 15 14 -4 Considering the financial ratio of the firms, it can be said that the Whole foods firm pursued low cost strategy while other firms maintained higher costs as well as higher sales strategy in order to derive high profitability. Besides, return on assets reflects the strategy to maintain high value of resources to generate income by first three firms whereas Supervalu firm opted to use higher sales to earn profits. In view of the financial ratios of all the four firms, it has been identified that Supervalu has strong revenues and resources but due to high indirect expenses, the firm incurred net loss while other firms financial ratio reflected positive results. As the return on assets of Whole Foods reflected higher percentage hence, it has been highly competitive among four firms. Key Sources of Trader Joes Competitive Advantage Key sources of Joes competitive advantage incorporate target market at lower prices, so that maximum customers can be approached. Trader Joe considered the strategy of secrecy strategy to maintain the competitive advantage, increase product demand and to pursue market growth. It has been observed that Trader Joe applied the sources of low price strategy to maintain the economies of scale by trading lesser variety of products at large volume, which considers the bargaining power while negotiating with the suppliers (Cucchiella, DAdamo Gastaldi, 2015). In addition, less number of varieties in products has been applied to target the customers having fewer choices keeping the small size of stores. Considering the secrecy strategy, Trader Joe considered not to disclose the identity of the manufacturer of the products to increase its competitive advantage within the supermarket industry. Main Threats to Trader Joes Competitive Advantage and Analysis of Sustainability Major threats to Trader Joes competitive advantage involve market level of Neighborhood that might decline the firms brand value along with the market expansion as well as revelation of identity of suppliers. In addition, increase in the market section by Wal- Mart is a threat to Trader Joe since Wal- Mart has been a largest retailer in the world. On the contrary, expansion of market section in the neighboring areas provides threat in terms of product quality and presentability to the consumers as the products would reflect identical quality (Menkveld, 2013). Similarly, identification of suppliers is a threat in terms of damaging the customer relationship with the suppliers affecting the product availability. Modification of Trader Joes Strategy In view of the financial analysis of the related firm, it has been observed that Supervalu incurred negative returns and negative income. In addition, Trader Joes main threats includes expansion of neighbor market system and suppliers identification hence, it is recommended that Trader Joe should implement innovations in presentation of products. The strategy should incorporate modification in terms of increasing the variety of products so that more consumers get attracted and pursue such products. Trader Joe can also implement the modified strategy by approaching new suppliers so that the materials can be consumed at lower prices and consequently acquire large market level in supermarket industry. Reference List and Bibliography Brook, J. W., Pagnanelli, F. (2014). Integrating sustainability into innovation project portfolio managementA strategic perspective.Journal of Engineering and Technology Management,34, 46-62. Cucchiella, F., DAdamo, I., Gastaldi, M. (2015). Financial analysis for investment and policy decisions in the renewable energy sector.Clean Technologies and Environmental Policy,17(4), 887-904. Dawar, N., Stornelli, J. (2013). Rebuilding the relationship between manufacturers and retailers.MIT Sloan Management Review,54(2), 83. Liao, T. S., Rice, J., Lu, J. C. (2015). The vicissitudes of competitive advantage: Empirical evidence from Australian manufacturing SMEs.Journal of Small Business Management,53(2), 469-481. McKinley, W., Latham, S., Braun, M. (2014). Organizational decline and innovation: Turnarounds and downward spirals.Academy of Management Review,39(1), 88-110. Menkveld, A. J. (2013). High frequency trading and the new market makers.Journal of Financial Markets,16(4), 712-740. Rothaermel, F. T. (2016). Competitive Advantage in Technology Intensive Industries. InTechnological Innovation: Generating Economic Results(pp. 233-256). Emerald Group Publishing Limited. Yim, M. Y. C., Yoo, S. C., Sauer, P. L., Seo, J. H. (2014). Hedonic shopping motivation and co-shopper influence on utilitarian grocery shopping in superstores.Journal of the Academy of Marketing Science,42(5), 528-544.

Term Exam Sample Paper free essay sample

This sample test should only be used as a guide to the styles of questions. The topics covered here are not exhaustive. Your revision should not be based on these set of questions only. The level of difficulty of this sample test is also NOT indicative of the level of difficulty of the actual test. The answers are provided at the end of the document. 1. A reasonable estimate of the annual standard deviation of return of the stock market would be? a. Less than 5 percent. b. Between 5 and 10 percent. c. Between 15 and 25 percent d. More than 30 percent e. Impossible to estimate 2. A project has an expected cash flow of $200, in year 1. The risk-free rate is 6%, the market rate of return is 16%, and the projects beta is 1. 5. Calculate the certainty equivalent cash flow for year 1. a. $175. 21 b. $164. 29 c. $228. 30 d. $212. 56 e. None of the above 3. Share X has a standard deviation of return of 10%, share Y has a standard deviation of return of 20%. We will write a custom essay sample on Term Exam Sample Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The correlation coefficient between the shares is 0. 5. If you invest 60% of your funds in share X and 40% in share Y, what is the standard deviation of the portfolio? a. 10% b. 20% c. 12. 2% d. 14. 0% e. None of the above 4. Richard Rolls critique of tests of the capital asset pricing model is that: a. Given an efficient market portfolio the CAPM is tautology b. The market portfolio is not efficient c. You need to test the model using the market portfolio for all capital assets d. a and c e. a and b 5. The Template Corporation has an equity beta of 1. 2 and a debt beta of . 8. The firms market value debt to equity ratio is . 6. If it undertakes a new project with the same risk profile, what is the project beta (assuming zero tax rate)? a. 0. 70 b. 0. 72 c. 0. 96 d. 1. 04 e. 1. 05 6. Consider following data on three shares: Share Standard Deviation A 0. 6 B 0. 30 C 0. 20 Beta 1. 00 0. 80 1. 29 Assuming that you wished to minimise risk, you would select share if the share was held in on its own, and you would select share if the share was to be added to a portfolio. a b c d e 7. A, A A, B B, A B, C C, A In a portfolio of three different shares, which of the following is NOT possible? a. b. c. d. e. The ris k of the portfolio is less than the risk of each of the shares held in isolation. The risk of the portfolio is greater than the risk of one of the shares. The beta of the portfolio is less than the beta of each of the individual shares. The beta of the portfolio is greater than the beta of one of the individual shares betas. The standard deviation of the portfolio is greater than the standard deviation of the risk free asset. 8. You hold a diversified portfolio consisting of 20 different shares with $1,000 invested in each. The portfolio beta is equal to 1. 35. You have decided to sell all your holding of Edna Average Cosmetics Ltd which has a beta of 1. You will reinvest the proceeds in Aggressive Action Ltd which has a beta of 2. What is the new beta of the portfolio? a. b. c. d. e. 1. 35 2. 35 1. 45 1. 10 1. 40 9. A company is considering an investment in a new project. That project is best evaluated as though: a. b. c. d. e. It is a stand alone project independent of the company and so its risk is measured as variance. Its risk is adjusted to allow for diversification with the companies existing projects Its cost of capital is the weighted average cost of capital Its risk is evaluated as though it were traded in the capital markets None of the above 10 Is the portfolio with the minimum possible variance an efficient portfolio? a. b. c. d. e. Yes No Yes, but only for risk loving investors Yes, but only for investors who will not take any risk. Yes, but only for investors who are risk neutral. 11. For a two-stock portfolio, the maximum reduction in risk occurs when the correlation coefficient between the two stocks is: A) +1 B) 0 C) -0. 5 D) -1 E) None of the above 12. The variance or standard deviation is a measure of: A) Total risk B) Unique risk C) Market risk D) Bankruptcy risk E) None of the above 13. The risk of a well diversified portfolio depends upon the A) Market risk B) Unique risk of the securities included in the portfolio C) Number of securities in the portfolio D) Variance of the portfolio E) None of the above 4. A factor in APT is a variable that: A) Affects the return of risky assets in a systematic manner B) Correlates with risky asset returns in an unsystematic manner C) Is purely noise D) Affects the return of a risky asset in a random manner E) is generally not correlated with stock returns 15. A company has a cost of capital of 15%. However, it is introducing a new product that it considers to be a ver y risky endeavour to a well diversified investor. What can you say about the appropriate discount rate for the project? A) The rate used should be 15% B) The rate used should be lower than 15% C) The rate used should be greater than 15% D) Any rate between 12% and 18% is acceptable E) The rate should be the expected market return. 16 What has been the average annual rate of return in real terms for a portfolio of U. S. common stocks between 1900 and 2006? a. Less than 2% b. Between 2% and 5% c. Between 5% and 8% d. Greater than 8% e. Greater than 20% 17. Mega Corporation has the following returns for the past three years: 8%, 12% and 10%. Calculate the variance of the return and the standard deviation of the returns.

Birmingham Swim League Essays - Swimming, Sports, Free Essays

Birmingham Swim League Essays - Swimming, Sports, Free Essays Birmingham Swim League "Southern Classic" Birmingham CrossPlex January 20-22, 2017 SANCTIONED BY: This meet will be conducted under the auspices of Southeastern Swimming, Inc. of USA Swimming. USA Swimming technical rules and regulations will be followed with the exception of items specifically addressed in the meet information Sanctioned by Southeastern Swimming, Inc. Held under the sanction of USA Swimming and Southeastern Swimming, Inc. Sanction No.17SEBSL1-20, Time Trial Sanction No. 17SEBSL1-20TT HOSTED BY: Birmingham Swim League (www.birminghamswimleague.org) 1025 Montgomery Hwy, Suite 106 Birmingham, Al 35216 205-823-5512 (office) LOCATION: Birmingham CrossPlex (www.birminghamcrossplex.com) 2337 Bessemer Road Birmingham, Alabama 35208 205-279-8900 FACILITIES: Indoor 20 lane, 25 yard or 10 lane, 50 meter pool with non-turbulent lane lines, Colorado timing system and video scoreboard. The competition course has not been certified in accordance with 104.2.2C(4). The water depth is a minimum of 8 feet to 16 feet. Warm-up/warm-down lanes available at all times. RULES: Current United States Swimming rules will govern the conduct of the meet. Southeastern Swimming safety guidelines and warm up procedures will be in effect. The use of audio or visual recording devices, including a cell phone, is not permitted in changing areas, rest rooms, locker rooms, or from behind the starting blocks. Deck changing into or out of swimsuits other than in locker rooms or rest rooms is prohibited. In the interest of safety and accident prevention, coaches and swimmers are asked to observe all posted pool rules and facility rules referred to in this meet information and to conduct themselves in a safe and prudent manner. Birmingham Swim League will not accept responsibility for anyone who climbs to an unsafe height for any reason. OFFICIALS: Meet Director: Kristie D Muir ([emailprotected]) Meet Referee: Donna Williamson ([emailprotected]) Admin Referee: Gwenn McKenzie([emailprotected])Officials and apprentices from visiting teams are welcome and appreciated. Please contact Donna Williamson ([emailprotected]) with session(s) you are available to work. Dress in khaki pants/shorts/skirts, white shirts and white shoes. Please fill out information on "Team Information" page to be returned with entries. Officials must be members of USA Swimming and must present evidence of certification as required by Southeastern Swimming. Should there be any questions, meet officials will recognize only coaches or their designated representatives.Officials' meeting will take place in the hospitality room 1 hour before each session. Timers' meeting will take place at Clerk of Course 30 minutes before each session. ELIGIBILITY: All swimmers must be 2017 USA Swimming Registered athletes. USA registration number must be listed on the entry form. No entry will be accepted without current registration numbers. Coaches and officials must present evidence of certification as required by Southeastern Swimming. A swimmer's age on the first day of the meet will determine his or her age for the entire meet. Swimmers must be 11 years old to enter "Senior" events. Any swimmer entered in the meet must be certified by a USA Swimming member coach as being proficient in performing a racing start or must start each race from within the water. When unaccompanied by a member-coach, it is the responsibility of the swimmer or the swimmer's legal guardian to ensure compliance with this requirement. STARTING TIMES: Warm-upCompetition Friday PM: 4:00 PM 5:00 PMSaturday AM: 7:20 AM / 7:50AM 8:30 AM Saturday PM: Not before 11:30 AM Not before 12:30 PM Sunday AM: 7:20 AM / 7:50AM 8:15 AM Sunday PM: Not before 11:30 AM Not before 12:30 PM Sessions may be combined (AM and PM) or age groups may shift sessions if necessary, depending on the number of entrants. If sessions are combined the events will be re-numbered. Teams will be notified by telephone and/or email by Wednesday, January 18th, if this should occur. So please fill out ALL information on the TEAM INFORMATION page and turn that in with your entries by the deadline. WARM-UPS: Morning sessions will have two warm-ups. 1st Warm-up: 7:20 - 7:50 A.M. 2nd Warm-up: 7:50 - 8:20 A.M. Depending on size of meet, there may be designated sprint lanes at end of each morning warm-up. Afternoon sessions will be OPEN warm-ups. Sprint and pace lanes to be designated the last 25 minutes. Southeastern Swimming Meet Safety Guidelines and Warm-up Procedures will be in effect at this meet. Warm-up Lane

Cap Nnaf Essay Example for Free

Cap Nnaf Essay Choose cite format: APA MLA Harvard Chicago ASA IEEE AMA Mr. Raghunath was happy that Rahul showed keen interest in his business but was worried about Ram who would always spend time with computers. He felt that if the interest of the two sons be put together they could start a flourishing business of their own. The boom in the IT industry made him find ways to satisfy his son’s dream. After college, the twins were drifting apart due to varied interest. Mr. Raghunath decided that this is the time for him to intervene and make decisions for his sons. He decided to start a computer business for his sons. He asked Rahul, a commerce graduate to draw up a proposal for the same. Rahul came out with the following ideas: The area they lived on ad run shop consisted of middle income group families and many of them did not possess computers at home Their shop could provide the following services: * Computer classes for various age groups. * Computer using facilities on payment per hourly basis and printing of documents from computers. * Internet access facility at the prevailing market rates by entering into contract with AIRTEL. * Computer games corer for children Rajiv jumped at the idea and they made up a common proposal. Rajiv wanted that they purchase 10 computers and start with first two areas of operation and expand when things go well. The shop they had at the market place was a single storey building. Their father offered to build the first floor and give it to them for their business. He spent `5,00,000 on construction of the facility and gave them `5,00,000 for the business. The sons went to bank and put up their proposal and managed to get a loan to the extent of 75% of the cost of computers ` 4,00,000 with printers. As the bank manager was aware of the credit worthiness of Mr. Raghunath, he advanced loan of `3,00,000. Total amount to be repaid will be `3,60,000 including interest in three annual installments as follows: * End of the first year = ` 1,30,000 * End of the 2nd year = ` 1,20,000 * End of the 3rd year = ` 1,10,000 (Where ` 1, 00,000 is the principal repayment) They started business on 1st April 2010. Rahul decided to deposit ` 4, 40,000 in the bank. He gave ` 1, 00,000 to computer company as 25% of the value of computers purchased and ` 3, 00,000 out of bank loan availed. He deposited ` 20,000 for electrical connection with the Electricity Board. He paid deposit of ` 1, 00,000 with AIRTEL for Internet connection. He used the telephone connection of the shop as there were two connections at the shop. The brothers got the computer cafe furnished by paying ` 50,000. Rahul got pamphlets printed and distributed at the cost of ` 4,500 in the surrounding colonies. All payments were to be made by cheques. All the receipts were in cash to be deposited in the bank on the same day. The students on the average paid a monthly fee of ` 500 for the three months computer evening classes. There were a number of internet subscribers and receipts on account of internet facility was ` 10,000 a month in the first quarter on an average. They decided to buy and sell computer stationery also like floppy, discs, CDs etc. At the end of the financial year, their results showed the following: | `| Total revenue including sale of computer stationery| 4,98,000| Purchase of computer stationery| 55,000| Electricity charges yet to be paid| 1,24,000| Telephone charges| 34,000| Petty expenses| 12,000| Entertainment expenses| 10,000| Maintenance expenses| 10,000| There was a helper at their father’s shop, who agreed to clean up the computer cafe and fetched water to various visitors. For the additional services, he was paid ` 500 per month. They withdrew `. 3, 000 by cheque each month for their personal expenses. They paid bank loan regularly. The father was pleased at their son’s efficiency. He wanted to expand business. Mean while Rahul received the pass book statement (for the end of March 2011) which showed the transactions as follows: Particulars| Deposit| Withdrawal | Balance `| Balance as on 1 march 2011| | | 4,76,500 CR| Fees remitted direct into business account. | 50,000| | 5,26,500 CR| Bank charges| | 500| 5,26,000 CR| Withdrawal by cheque no†¦Ã¢â‚¬ ¦| | 6,000| 5,20,000 CR| Payment by cheque no†¦Ã¢â‚¬ ¦. | | 6,000| 5,14,000 CR| Interest credited| 2,000| | 5,16,000 CR| Balance as on 31 march 2011| | | 5,16,000 (CR)| 1. Analyze the transactions and explain the rules applied as per double entry system of bookkeeping. 2. Journalize the above transactions. Post them into the ledgers and prepare trial balance. 3. Prepare Bank Reconciliation Statement and make necessary adjustment in the books of account. 4. Prepare Profit and Loss account and Balance Sheet. 5. Charge depreciation @25% on computers, @10% on furniture, 5% on buildings. 6. Paisa can be rounded off. 7. What are the basic assumptions and concepts applied by Rahul while preparing the above statements? 8. Calculate profitability ratios. 9. They approached bank for further loan. Compute the ratios the banker will require before granting the loan. 10. Comment on the efficiency of the business if the net profit and gross profit in similar type of business concerns are 20% and 50% respectively. —————————————— Cap Nnaf. (2018, Oct 17).

Enterprise Resource Planning Assignment Example | Topics and Well Written Essays - 2500 words

Enterprise Resource Planning - Assignment Example "The ERP market showed solid organic growth in 2004 as IT spending improved," says Jim Shepherd, vice president of research at AMR Research. "The market was also affected by consolidation within the segment, as well as ERP vendors acquiring best-of-breed players to broaden their portfolios." The top ten ERP vendors by revenue are in the following order: SAP, Oracle, PeopleSoft (acquired by Oracle December 28, 2004), Sage Group, Microsoft Business Solutions, SSA Global, Geac, Intentia, Lawson, Infor Global Solutions. The report, "The Market Analytix Report: Enterprise Resource Planning, 2004-2009", delivers revenue and growth rates for the top ERP players as well as growth forecasts through 2009. AMR Research expects the enterprise applications market to grow from $47.8 billion in 2004 to $64.8 billion by 2009. SAP has had a solid reputation and has been the market leader and its revenues grew from about $8 billion in 2003 to about $9.4 billion in 2004. That amounts to a 17 percent increase in revenue, with software licenses up by 20%. SAP reached these figures without any major acquisitions. Being a viable alternative to confused customers who were witness to the Oracle and PeopleSoft takeover saga, it benefited by luring their customers towards its products. When it is all said and done, SAP-owned 40 percent of the market for ERP software in 2004, says AMR, which predicts SAP will own 43 percent of the market by the end of 2005. To do this, SAP must grow revenues 11 percent this year to about $10.4 billion. The sap is growing very well and is expected to gain more than twice the revenue and market share of Oracle by the end of 2005.Before the hostile takeover of Peoplesoft by Oracle in 2003, PeopleSoft was the second largest ERP vendor with 13 percent of the market, and Oracle was a clos e third with about 12 percent of the market. In 2004, the combined market share of those two vendors dropped two percentage points to 22 percent, and in 2005, the combined Oracle-PeopleSoft will drop three more points to 19 percent of the market, according to AMR. Microsoft Business Solutions garnered a solid 13 percent from $683 million to $775 million, to claim 3 percent of the market. AMR sees the ERP division of the world's largest software company growing revenues by 15 percent in 2005, to $891 million, which would give it a 4 percent share.  

Learning Organisation Case Study Example | Topics and Well Written Essays - 3500 words

Learning Organisation - Case Study Example In addition to other initiatives, each employee was given '100 towards any (approved) learning of their own choice - inside or outside the organization. Such learning could incorporate ballroom dancing, driving lessons, flower arranging or whatever. This was viewed as being proof of commitment but also as a means of generating "the learning habit". All learning is registered (on a central database) and rewarded (not in financial terms). Employees are given some time within working time to use the open learning centres - but more learning occurs in the employees' own time. Employees are reinvigorated both in terms of evaluating their own learning and in terms of their work -employees on the production line have a "right" to stop the line - at large cost - if they feel something is wrong. Evidence suggests that whenever, as in this case, employees feel cherished they respond accordingly. There is no headstrong stopping of the line. Clearly, this all sounds very simple and naive. Change is never easy - and cultural and attitudinal change is the toughest of all. In the Rover case, the main people were a small number of "change agents" -people with the skills of interviewing, counselling, coaching and convincing - whose role was not to establish the nature of change but to make it happen. They are required at various levels to act as catalysts, sounding boards, motivators, and sources of feedback, monitoring and control. If you can recognize suitable change agents, you are half way to success. They don't have to be people in the line structure - it is possible to ascertain practises which allow them to work outside of the line structure using the "authority" of an overall, senior co-ordinator. Critiques of the Learning Organisation Concept In spite of the extensive interest in the notion of the "learning organisation" as is shown by the proliferation of research literature as well as popular books, it is a difficult concept and, indeed, a contested one (see, in particular, the critiques of Brown and Keep (2003) and Fischer (2003), who provided source material for the Cedra learning organisation project). There is censure among many sociologists and researchers in adult and community education but also in the occupational education and training (VET) community, for example in Germany (Fischer, 2003). They see the idea of the learning organisation as being seated in a normative or prescriptive business-school management concept that is founded on pitiless American/Anglo-Saxon economic principles of organisational effectiveness. They disapprove of the use of sophisticated cultural and psychological theories by modern management to maximise benefits for the company without paying a big deal of attention to ensuring personal learning benefits for employees or workers. This analysis is reinvigorated by a feeling of being disappointed by the non-fulfilment of the hopeful forecasts in the 1980s regarding the emergence of more human-centred workplaces in the post-Tayloristic period that would improve the quality of working life for everybody (see