Friday, July 17, 2020

How to Work with Headhunters to Find a High Paying Job

How to Work with Headhunters to Find a High Paying Job Looking for a higher paying job to transfer your career into the next level? You’ll probably find yourself working with a headhunter. But who are these headhunters and how can they help you find your dream career? © Shutterstock | Syda ProductionsWe’ll explain who headhunters are and how they work. We’ll give you tips on how to best gain the attention of a headhunter and  effective strategies to help land a high paying job.WHO ARE HEADHUNTERS?In order to maximize your use of headhunters, it’s helpful to understand who they are and how they operate. This guarantees you take full advantage of the assistance they can provide you and it prevents you from, on the other hand, expecting too much from them.Headhunters are essentially a type of recruiter, often referred to as third-party recruiters. Therefore, they help an organization find a candidate for a specific role â€" acting as the middleman.Headhunters differ from typical recruiters in the sense that they are often executive search firms, specializing in mid- and high-level jobs. Headhunters don’t typically deal with graduate or entry-level roles. They are essential for finding high paying jobs, as research shows as many as 60% of job s go unadvertised and instead are only known by headhunters.Furthermore, there are three different types of headhunters. The difference between these types mainly relates to the salary they receive.Contingency headhunters:  Search for the candidates on behalf of the organization and the headhunter will be paid only when the position is successfully filled.Retainer headhunters:  Search and often screen the candidates, with the organizations having exclusive contacts with specific headhunting agencies.  Commission can be similar in terms of the final payable to contingency headhunters, but the payment is not typically dependent on the position being filled.Hybrid agency:  There are a number of headhunting agencies using a hybrid model, under which part of the fee is paid upfront, with the rest being contingent on the filling of the position.As a candidate, you should know headhunters are always paid by their client, which is the organization looking to hire. This means the loyalty of the agency is on the client and not necessarily on you as the candidate.This can mean headhunters aren’t interested in providing any type of career counseling and other such advice for you.In addition, this can mean the recruiter goes for standard candidates, who match the job description, as these are what the clients tend to prefer. Overall, headhunters are not looking for the most talented or likeable candidate. HOW DO HEADHUNTERS OPERATE?So, what is the typical process a headhunter uses to find the right match? The name, headhunter, is rather suitable for explaining the proceeds, as headhunters tend to “hunt” for the right candidates, instead of necessarily waiting for the candidate to come to them.The basic process tends to follow these steps:The headhunter receives a job description from the client. Although occasionally, headhunters can be closely involved in creating the job description and better understanding things such as the corporate culture, as this can help fin d the right match.The headhunter analyses the key requirements and starts searching for the right candidate.The places headhunters tend to look for and often in this particular order are:The agency’s own candidate database.Personal contacts the headhunter has within the specific industry.  This might include people they’ve previously helped find work and other word-of-mouth referrals.Social media sites.  The most common used platform is LinkedIn, but Facebook can also be utilized.  Cold calling or cold emailing the candidates found on social media.Advertise the position on a job site.  This is relatively rare, but still an option headhunter might turn to.The headhunter creates a shortlist of suitable candidates and presents it to the client.In addition, certain headhunters and search executive firms are also in charge of the interview process. This means the headhunter shortlists the candidates to invite to an interview. The interviews can be an initial phone interview, together with a face-to-face interview for selected candidates. Afterwards they might present two to three candidates to the organization to choose from.It’s not unusual for the initial search or even interview process to come up with no suitable candidates. According to data, 30% to 50% of all recruiting efforts are classified as a failure.[slideshare id=30488532doc=guidetofindingandworkingwithheadhunters-140127082221-phpapp02type=dw=640h=330]HOW TO BEST GAIN ATTENTION OF A HEADHUNTER?Now that you are aware of the “hunting” process, you can begin improving the way headhunters take notice of you.Below we’ll introduce you the two steps that can ensure you can gain attention.Position and brand yourselfFirst, you need to position and brand yourself well in the eyes of headhunters. There are essentially two key routes for enhancing your employee brand: through a strong online presence and with a quality CV/resume.You need to focus on constructing a strong online presence on public socia l media platforms used by headhunters. The key platforms to focus on are LinkedIn and Facebook.What are the best practices you should focus on? First, it’s important to create a detailed, yet short enough, summary of your skills and past experiences. You definitely want to focus on highlighting the skills required in your ideal career. You need to remember headhunters will be looking at your profile and comparing it with the job positions, they are searching for.Therefore, you need to think about the roles and companies you want to attract before creating the online profiles. The best way to do this is to research your ideal job roles and companies to get an idea what they want. In addition, since you are perfecting your online profiles, focusing on keywords is important.Overall, it’s crucial to ensure your social media profiles are clean and professional, if you are using public profiles. In 2012, a survey by ExecuNet found 90% of recruiters searching for candidates’ names on line. Therefore, an unprofessional profile, use of profanities or inappropriate comments can damage your chances.The second key way to positioning yourself higher on the headhunter’s shortlist is with a quality CV/resume. The task is not easy considering headhunters only spend six seconds on individual resumes.Headhunters use ATS systems to scan resumes in their database, so it’s important to focus on the relevant keywords and ensure you send out your CV/resume to all relevant agencies. Once again, it’s crucial to ensure you target the roles you are looking for with your keywords. Standardized resumes are unlikely to provide you the results you are looking for.What are some of the other points you need for creating a quality CV/resume? You should focus on:Include the most recent skills, experiences and qualifications to guarantee the resume is up to date. Ensure you only highlight the relevant skills, experiences and qualifications in terms of the job you are looking for.Have a clear and attractive headline. The headline should immediately point out your experience, qualifications and ambitions.Erasing all grammatical errors. 59% of headhunters will reject a candidate simply because of spelling and grammar errors.[[slideshare id=46173277doc=awesomeresumetemplates-150323094821-conversion-gate01w=640h=330]Reach out to headhuntersYour second step should be to increase your efforts on reaching out. While headhunters are in charge of contacting you in terms of job positions, it doesn’t mean you shouldn’t be active in positioning yourself into their ‘inner circle’.If you can highlight your professionalism and qualification in terms of specific types of jobs, headhunters are more likely to remember you when appropriate job positions land on their desks.Networking is a crucial part of a job search. You want to keep growing your own personal network by focusing on both headhunters and industry professionals.Start by identifying the headhunters and industr y influencers who are related and relevant to your career goals. We’ll delve into identifying your career goals a bit more in the following section. The key to remember is that not all headhunters are relevant to you. You need to identify the headhunters with access to the roles you want.In terms of creating networking opportunities, you should be active in attending different events. Career fairs and other industry-specific events are great opportunities to meet headhunters, as well as create connections with different companies and industry influencers.When you make a new connection with a headhunter, you must be pro-active in staying in touch. Follow-up on the new connections and maintain a regular relationship. This should include staying in touch on social media, participating in any recruitment events the headhunter might organize, and sending an updated resume/CV every once in a while to the headhunter.Overall, it’s beneficial to have a list of the relevant headhunters, a nd include their names, organizations and contact details in the file. You can use the list to stay on top of the last contact, the resume they have in their files and any other additional information you might wish to remember.HOW TO FIND A HIGH PAYING JOB USING HEADHUNTERS?The key to getting a high paying job through headhunters relies on the understanding that it’s not the most skilled candidate that gets the calls. Headhunters will look for candidates that best fit the job description and requirements, not the people with the highest qualifications or the most experience.In order to ensure the headhunters pick up your resume or find your LinkedIn profile, you therefore need to focus on the following strategies.Identify your career goalsWe briefly mentioned in the previous sections how having a set of career goals can help with your interactions with headhunters. You’ll be better equipped to create the right kind of profiles on social media and to write a compelling resume, i f you know the career route you are after.If you haven’t established a career plan or thought about the career progression steps you want to achieve, you definitely need to start thinking about them. Only once you are aware of the roles and companies you’d like to impress can you start contacting the relevant headhunters.Knowing your ideal roles beforehand ensures you are more prepared to talk with the headhunters. They will also notice you are career-driven and know what you want from your career. This ensures they don’t try to match you with jobs that are clearly not suitable for you.Furthermore, you should also be aware of the kind of salaries you are looking for. You don’t want to accept interviews for jobs that don’t meet your salary expectations or spend time applying for jobs with insufficient benefit packages. Focus only on the headhunters and networks that help with above goalsDon’t send your resume to every headhunting agency you find. With your career goals in mind, you need to instead identify the agencies and specialists focused on your industry.Find different recruitment agencies by searching for “headhunters (your industry)” in Google. You can also use keywords such as “headhunters (ideal role)” or “recruitment agency (your ideal company)”. This can provide you a selection of options.When you find possible headhunters, check out the agency’s website for more information. Don’t be afraid to drop a quick note outlining your career interests and asking whether the recruiter has worked with similar job postings in the past.Finally, you can always ask more information from your network connections. People working in your ideal companies or roles might be able to provide insights into the headhunting agencies they’ve worked with in the past.Improve your qualificationsSince headhunters are only looking at the skills and qualifications mentioned in the job posting, you need to ensure you have these. Therefore, to maximize y our chances of obtaining those high paying jobs, you need to know the specific requirements of these roles.Once you have career goals in mind, you should start browsing job listings to see what sort of skills and qualifications are required for your ideal job. You can also search for the roles online with keywords such as “(your ideal role) skills and qualifications)”. Furthermore, you want to research the companies you are targeting and pay attention to their corporate culture. What kind of skills does the company keep mentioning and focusing on?Once you have a better understanding of these specific requirements, start developing your skillset to fit these descriptions better. This might require some training or simply taking on opportunities at your current role to enhance your skillset. For instance, you could step up to different managerial positions to improve your leadership skills.Be open-minded with the responsibilities and skills you develop. You might be looking for a career in marketing, but a high paying job in the industry could well ask for sales knowledge. Cross training is always a good idea, as long as it doesn’t take you too far away from your focus area.Furthermore, remember top class jobs often require more than just technical skills. The higher you climb the career ladder, the more you need to focus on soft skills such as communication skills, team building skills and so on. Therefore, you need to pay attention to developing these as well.As you develop these skills, update your resume and social media profiles with the new qualifications. Remember to target the specific keywords you’ve noticed companies using when searching for these roles.If you’ve sent your resume to headhunters, remember to update them with the adjusted resume frequently. Not only does this ensure you’re resume is focused on the specific skills, but the contact can ‘bump up’ your resume on their list.Strengthen your role as industry expertFinally, you†™ll be higher on the list of quality candidates if you continue to strengthen your role as an industry expert. This not only provides you better networking opportunities, but it also improves your resume.Furthermore, since headhunters are the ones ‘hunting’ for the right match, you can fall into their radar by being active in industry discussion. Headhunters can sometimes simply browse industry forums, social media and other such resources for suitable candidates. If your name keeps popping up during this search, you’re likely to attract interest.You should definitely consider starting a blog. Attracting a strong following with a blog will improve your online visibility. Readers are likely to share your blog posts and therefore headhunters might stumble upon them.Even if blogging is not for you, you should become an active participant in industry discussion. Search for industry specific forums, read other people’s blogs and comment on them, and join in on the social media co nversation. Finally, you should consider speaking at industry events and career fairs.Find out more about becoming an industry expert from the video below: FINAL REMARKSHeadhunters seek the right candidates for the most prestigious roles. If you want a high paying job or progress on the career ladder, then you definitely want to build relationships with headhunters. But for the relationship to be the most fruitful, you need to understand the ‘hunting’ process.Headhunters are not all going to be useful for you, but at the same time, you can’t just lie around and wait for them to call you. You need to identify the headhunters most beneficial for your career development plan and build an online and offline presence, which will get you noticed.If you are aware of what you want, develop the skills you need in your desired role and stay active in your communication with headhunters. They might just knock on your door with a lucrative job offer.

Thursday, May 21, 2020

Smallholders Coping With Food Sector Transformation - Free Essay Example

Sample details Pages: 23 Words: 6856 Downloads: 4 Date added: 2017/06/26 Category Agriculture Essay Type Analytical essay Did you like this example? This chapter provides a description of the data and research methodology used in this study. This study employed investigates the smallholders coping with food sector transformation and the role of social enterprises in Thailand. Both qualitative and quantitative data were carefully planned and collected in order to facilitate the achievement of the objectives set for the study. Don’t waste time! Our writers will create an original "Smallholders Coping With Food Sector Transformation" essay for you Create order An overview of the stages of data collection, data discussion, scope of the study, sample and case studies selection, and methods of analysis is provided. Qualitative data was used for making a general mapping and characterization of the agri-food value chain in Thailand. This information provided essential input for designing a survey for collecting quantitative data. Furthermore, qualitative information will be very useful for interpreting quantitative results and complementing them. While quantitative data is analyzed using statistical and multivariate data analysis techniques, such as Probit regression, gross margins regression with selectivity bias solution, and Factor Analysis. All these quantitative methods are summarized and discussed in this chapter according to the research objectives and questions. 5.2 Overview of stages of data collection The different stages of data collection were divided into four steps as follows: First stage, prior to leaving to the field in Thailand, a thorough review of secondary information was undertaken. It consisted of the review of information from international and Thailand sources, including a literature review of previous studies. This stage consisted of interviewing key informants of government institutions, NGOs, private organizations, farmer organizations, universities and donors. The semi-structured interviews explored the information on how agri-food value chains are changing, with special reference to smallholder coping with food sector transformation and the role of social enterprises. The objective of this activity was also determining the role of institutions and organizations in helping small-scale farmers in modern trade supply chains, including the involvement of institutions and organizations in the production and marketing, their current and future plans and limitatio ns. This information was essential for designing pre-structured interviews used in the following stage of the study. Second stage, the main key actors in agri-food supply chain such as supermarkets, suppliers/brokers, wholesalers, Green Net cooperative and the Royal Project were interviewed by using semi-structured questionnaires (please see the questionnaires in Appendix II-1) in order to gather information about their marketing activities, procurement systems, contract farming systems, and marketing development, especially the current and development of participating with modern trade chains. These interviews help to identify the nature and level of participation of smallholders in modern trade chains. It also provided information about market opportunities and threats offered to small-scale farmers by modern trade markets, the constraints faced by farmers trying to enter such supply chains, and key success factors associated with small-scale farmers that are able to gain acces s. Furthermore, market observation were undertaken by the author and research assistances in top supermarkets and wholesale markets in Bangkok and main cities such as Chiang Mai, Chiang Rai, Khon Kaen, Chachoengsao. As a third stage, in-depth interviews and focus groups were undertaken with farmers participating with social enterprises in producing for modern trade markets and farmers selling in the traditional markets. Interviews encompassed the factors that facilitate of impeded their participation with social enterprise in producing for modern trade markets. Interviewing participant and non-participant farmers enabled the exploration of the motivations, benefits and key success factors of these two groups, and the barriers to entry faced by non-participants. This stage provided information to develop the quantitative questionnaires in stage four. The fourth stage, step in quantitative survey, of data collection was consisted of surveying a sample of participating and compar able non-participating farmers in order to collect quantitative information about the issues addressed in the in-depth interviews after the survey instrument was pre-tested in two different rounds with sets of respondents (see more detail about questionnaire and pre-test in section xxx). This stage provides quantitative data on the benefits, constraints faced by farmers and key success factors of farmers. Both qualitative and quantitative information contribute to achieving the objectives and research questions of the study. 5.3 Data discussion Regarding to stages of data collection, it was divided into two main phases according to type of analyses and objectives of the study. First phase aimed at collecting qualitative (secondary information and semi-structured interviews), and was carried out during the period April 2008 à ¢Ã¢â€š ¬Ã¢â‚¬Å" July 2008. In addition, it aimed at market observation from top supermarkets in main cites, and was carried out during the period Apri l 2008 September 2008. The phase of the surveys investigated the following issues according to the research objectives and questions: Phase I: Qualitative Analysis: Assessing forces and trends in the restructuring of Agri-food value chain of modern trade and small-scale producers in Thailand. 1: To analyse the changing value chain and transformation in the agri-food industry of small-scale horticulture producers and modern trade in Thailand. RQ1 What is the current agri-food supply chain of small-scale producers and modern trade markets in Thailand? RQ2 What are forces and trends driving the restructuring of agri-food value chain and food sector transformation in Thailand? RQ3 What is the role of social enterprise in linking small-scale farmers into modern trade chains? 2: Outline the terms under which small-scale producers interact with modern trade. RQ 4 Do they have proper contracts, or are the transactions more informal and ad-hoc, etc? RQ 5 Do contracts change over time?, and why? RQ 6 How suppliers/producers adjust to/bargain with modern trade? This phase (regarding to objective 1 and 2) refers to the patterns of changes in the different modern food supply chains in Thailand and the impact of policy on these changes, including the role of social enterprises in linking small-scale farmers to the modern trade chains. The study reviewed grey literature and interviewed with key informants from many key informants and institutions industry à ¢Ã¢â€š ¬Ã‹Å"middlemenà ¢Ã¢â€š ¬Ã¢â€ž ¢- wholesalers, buyers, social enterprises and cooperative managers, the World Vegetable Center- AVRDC, government institutions, NGOs, and Universities (see Appendix II-3). The general of this phase is to make a general characterization of agri-food value chain in Thailand, make a map of the system and collect inputs for the questionnaire design in the second phase. Second phase aimed at collecting quantitative data (survey), and carry out during Jun e 2008 à ¢Ã¢â€š ¬Ã¢â‚¬Å" November 2008 for the Royal Project case study, and September December 2009 for Green Net case study. Phase II: Survey and Quantitative Analysis: Assessing motives for and impacts of small-scale producersà ¢Ã¢â€š ¬Ã¢â€ž ¢ participating with social enterprises in producing for modern trade markets for selected products. This phase based on two case studies (Green Net, and the Royal Project) producer surveys which include both participants and non-participants with modern trade contract farming. The surveys investigated the following issues according to the research objectives and questions: 3: Analyses the motivation and challenges of participation of small-scale producers in producing for modern trade chains in Thailand. RQ7 What are the determinants of small-scale farmersà ¢Ã¢â€š ¬Ã¢â€ž ¢ participation with social enterprise in producing for modern trade chains? RQ8 What are advantage and challenges faced by small-scale farmers participat ing with social enterprise in producing for modern trade market markets in Thailand? 4: Estimating the impacts on small-scale farmers participating with social enterprises in producing for modern trade. RQ 9 Do producers participating with social enterprise in producing for modern trade obtain better outcomes (profits/income) compared to non-participant? RQ 10 Do producers participating with social enterprise gain other non-financial benefits from participation? This phase (regarding to objective 3 and 4), the study involved field survey and collect the data from questionnaires (please see scope of the study in the next section and Appendix II-2). The objective of this phase is to collect quantitative information about variables that determine the participation of small-scale farmers in modern trade chains. 5.4 Scope of the study and survey 5.4.1Qualitative Information The qualitative phase was carried out during the period April July 2008, consisting of in-dep th interviews with different actors involved in the agri-food sector, including government, private sectors (eg., modern trade and supermarkets, suppliers/brokers, buyers and/or wholesalers), NGOs, farmer organizations, universities and farmers. (see Appendix II- list of key informants) A total of 20 in-depth interviews conducted with organizations and institutions, 20 with small-scale farmers that participate in the modern food chains and 20 with small-scale farmers that selling to traditional markets. A à ¢Ã¢â€š ¬Ã…“Snowballà ¢Ã¢â€š ¬? Sampling used to contact research informants (see example Blandon, 2006 and Robson, 1993). Semi-structured interviews were differently designed for organizations and institutions, buyer/wholesalers, and farmers; participants and non-participants (Please see Appendix II-1). Each interview lasted between one hour and one hour and a half, and in the case of farmers most of the interviews were conducted on their farms. For each interview hand- writing notes and/or tape-record were taken for analyzing and reviews. For analysing the data, notes and tapes were reviewed. This analysis allowed the making of a map of the agri-food system and identifying categories related to the research objectives. 5.4.2Quantitative data collection The objective of the second phase was to collect quantitative information about variables that determine the participation of small-scale farmers with social enterprise in producing for modern trade markets. For this purpose, a survey including participant and non-participant farmers was carried out during June 2008 à ¢Ã¢â€š ¬Ã¢â‚¬Å" November 2008 for the Royal Project case study and September December 2009 for Green Net case study. The quantitative portion of the study based on small-scale producer analyses (vegetable and rice case studies) which supplying modern trade markets as well as international markets. The survey questionnaires administered from face-to-face interviews 240 (120 f or each case study) small-scale farmers excluding pilot tests. This stage that some attempt made to follow a random sampling procedure, but field reality may result in convenience based sampling. Since the qualitative data collection precedes and feeds into the quantitative data collection, I first outline the schedule for qualitative data collection and then show how this transition into the quantitative part (see Table 5.1). Table 5.1 Steps in quantitative survey data collection Task Description of task 1 Information gathering and preparation of materials needed for the in-depth interviews 2 Pre-test: Semi-structured interviews, focus group 3 In-depth interviews (semi-structured interviews) conducted on a group of key informants 4 In-depth interviews (semi-structured interviews) conducted on a group of suppliers/buyers/wholesalers 5 In-depth interviews (semi-structured interviews) conducted on a group of small-scale farmers 6 Initial Analysis of results from in-depth interviews and comparisons. This will provide inputs to development of the quantitative part, commencing in step 7 below. 7 Development of initial questionnaire for pre-testing 8 Pre-test of questionnaire on a sample of participant farmers 9 Pre-test of questionnaire on a sample of non-participant farmers 10 Evaluation of questionnaire for possible corrections and re-designing of questionnaire 11 Final administration of questionnaire on sample of    participant farmers 12 Review of answers given to ensure clarity and uniformity, at this stage, new information revealed will be added to the questionnaire. 13 Final administration of questionnaire on sample of non-participants 14 Review of answers given to ensure clarity and uniformity, at this stage, new information revealed will be added to the questionnaire 15 Revisit[1] of farmers by the same interviewer to clarify ambiguous issues and ensure consistency [1] Repeat visit will be done if there are any data problems. 5.4.3 Administration of questionnaire and survey: The questionnaire was developed following five steps suggested by Aaker et al. (1998) and Masakure (2005). Step one involved planning what to measure (revisiting research questions, focusing on research issues and getting additional data from secondary and exploratory research). Step two entailed formatting the questionnaire (determining the content of questions, the framing for each question). Step three involved consideration of question wording (evaluating each question according to how respondents would comprehend and their ability to answer). Step four involved sequencing and layout decisions (ordering of questions to create a single questionnaire). Finally, step five involved pre-testing the questionnaire and correcting problems. The entire design was guided by the in in-depth interviews and as shown in steps in quantitative survey data collection (see Table 3). It is important to know that the research supervisory visited in Thailand also involved in these steps for evaluati on of questionnaire for possible corrections and re-designing of questionnaire. The questionnaire divided into five sections. Section one of the questionnaire contained questions relating to Basic household information. Section two collected data on farm characteristics including costs and returns. Section three focused on income and assets of household. Section four assessed the marketing details and the factor of choosing markets. Section five focused on the history and experience of growing. A copy is provided in Appendix II-2. In questionnaire different scales of measurement were used, such as nominal, ordinal, interval and ratio scales. A number of multi-item scales were included in the questionnaire following Masakure (2005) and Oppenheim (1992). It is important to note that multi-item scales are widely used in marketing research to measure phenomena that cannot be captured directory with one attitude-based question (Masakure, 2005). They are particularly useful when it is not possible to rely on behaviour as an indication of phenomena (Oppenheim, 1992). For example, in this study a multi-item scales was used to measure the perceptions of small-scale farmers on participating with social enterprise in producing for modern trade markets as opposed to using a single item. The advantages of multi-item scales is that specificity of items can be averaged when all items are combined and the researcher is able to make a clear distinction between individuals and factors through combining these items (Masakure, 2005). The final questionnaire was administered by personal interviews, after the completion of each pilot questionnaire, from.. through . . Two trained research assistances from Mae Fah Luang University and Chiang Mai University were recruited and helped the author in this task. The author carried out half of the interviews. Respondents were selected using a two-stage stratified sampling procedure based on the number of centres operated and the geogr aphical areas of operation. To aid the interview process, research assistants first met farmers at an informal gathering. Farmers were free to ask questions related to the research. Participant farmers were told that the information generated would be used sorely for academic purposes. Each interview began with a brief explanation of the research objectives and its purpose. Questionnaires were filled in by the interviewer. The process could be adjourned several times to enable farmers to undertake their normal duties. On completion the questionnaire, the respondent was thanked for their participation. 5.4.4 Case of the study Secondary information from different sources (triangulation) and the information from in-depth interviews with key informants was a key to identify the case studies. The research design, data gathering, analysis and interpretation were based on two case studies approach. Case studies are better at investigating contemporary phenomenon within its real life context, especially when the boundaries between the phenomenon and context are not clear (Yin, 1994). The case study approaches are also powerful in combining qualitative and quantitative data and provide a description and test theory or even generate theory (Masakure, 2005). This study mostly concerned with the role of social enterprises assist smallholders with production and marketing for modern trade markets. Therefore, case studies are more useful in addressing the implications of the restructuring agri-food value chain on small-scale farmers (the relationship-returns, network and social aspects). In consequence, this study u sed two case studies as Green Net and the Royal Project. Below is a brief overview of the current case studies. 1. Green Net (rice case study) Having explained briefly about the Green Net, it is established in 1993 by the group of people wishing to support the environmental and social responsible business. In present, Green Net is one of the largest producers and wholesaler of organic food in Thailand. It also plays as important social enterprise in supporting sustainable development for a better livelihood of small-scale producers and consumers as well as a clean environment for Thailand. At present, there are over 20 product assortments (e.g. organic rice (majority product), vegetables, fruits, teas, cotton etc.) sold through approximately 40 retail outlets in Bangkok and around the country. Beside domestic market, Green Net Cooperative operates fair-trade exports to Europe and the nearby countries in Asia. Please see more detail about Green Net in Chapter 6, section 6.xx. Green Net is currently purchased from farmer groups in the North-eastern, Northern and Central regions of Thailand. Regarding organic rice, majority product, main organic rice price producers for Green Net are cooperatives in Yasothorn Province (North-eastern) , one of the largest organic rice provinces in Thailand, such as Naso Organic Rice Cooperative and Bakruea Organic Rice Cooperative. Therefore, this study is focused on these cooperativesà ¢Ã¢â€š ¬Ã¢â€ž ¢ members who are small-scale farmers growing organic Jasmine rice as participant farmers. 2. The Royal Project (vegetable case study) The Royal Project (RP) has been playing as an important social enterprise in developing and promoting quality of life for the highland small-scale farmers in various aspects. The RP also becomes one of important agri-food suppliers for both domestic and international markets especially for low-chemical and organic products. The RP has developed the household subsistence farming into the commercial-based production under Good Agricultural Practice (GAP) emphasizing on quality and safety standards in all links of the supply chain. Therefore, the RP, as it now becomes, has represented the linkages between the small-scale farmers and modern trade markets to help themselves in growing useful crops which enable them to have a better benefits. Please see more detail about the Royal Project in chapter 6, section xxx. The RP have 4 research centres and 37 Agricultural Development Centres within 5 provinces in the North of Thailand as Chiang Mai, Chiang Rai, Lamphoon, Phayao and Mae Hong Sorn. The Agricultural Development Centre plays as a main collaboration centre between farmers and the RP to support the RP production and marketing plans. There are 27 Agricultural Development Centre in Chiang Mai (72.79%), 6 centres in Chiang Rai (16.22%), 2 Mae Hong Sorn (5.1%), 1 centre in Payao (2.70%) and 1 centre in Lampoon (2.70). In addition, there are 26,174 householdà ¢Ã¢â€š ¬Ã¢â€ž ¢s members, 257 villages from 5 provinces, under 37 The RPFà ¢Ã¢â€š ¬Ã¢â€ž ¢s development centres. Most farmers are in Chiang Mai (69.25%), Chiang Rai (16.27%), Lampoon (7.38%), Mea Hong Sorn (4.90%), and Phayao (1.51%) in ordered. Vegetable and fruit production are main income resources of the RP. In 2008, The RP had total income about 427.47 million Baht. The main income resource came from vegetables 56.29%, fruits and coffee 16.97% (coffee is about 4.61%), and flowers and trees 5.88%. Chinese cabbage is one of importance crops for the RP which is selling all the year to modern trade markets. Therefore, regarding to in-depth interviews and survey, this second case study is focused on the RP members who are Chinese cabbage producers in Chiang Mai province (Chiang Mai is one of the largest vegetable (cold weather vegetable) production areas in Thailand) as participant farmers. The participant famers come from 3 Agricultural Development Centres in Chiang Mai as Nong Hoi, M ae Hea, and .. The following table (Table 4) shows the summary of scope of the study. Table 4: Summary of scope of the study Phase of study Analysis Data sources Phase 1 :Qualitative Trends Changes in retail points policy. Documents/interviews from key informants, organizations and other administrations. Change in producer and supplier points, and contract policy. Documents/interviews from key-informants from supermarkets, suppliers and farmers. Phase 2: Quantitative Producers/Suppliersà ¢Ã¢â€š ¬Ã¢â€ž ¢ access Small-scale producer analyses: Royal Project: vegetable producer Green Net: rice producer (Total is 240 farmers) Surveys of small-scale farmers who participate and non-participate with supermarkets, 60: 60 PER CASE STUDY 5. 5 Validity, Reliability and Practicability Regarding to data collection and research methods, one important issue to take into account in this study is that measurement tools used meet the criteria of validity, reliability and practicability. A research instrument meets validity criterion if it is able to measure what is supposed to measure; reliability if it provides accurate and stable measurements; and practicability if it is appropriate according to economic, convenience, and interpretability (Blandon, 2006; Cooper and Emory, 1995 and Robson, 1994). The quantitative research is usually associated with the terms of validity and reliability. On the one hand, qualitative research usually looks for alternative ways to deal with credibility issues (Blandon, 2005). The above measurement criteria are very difficult to evaluate. However, according to Janesick, 2000 and Robson, 1994, an alternative and important tool is triangulation which refers to the use of several data sources and/or the use of multiple methods in the resear ch. Therefore, in this research, qualitative data come from different sources (for example, supermarket, buyer, social enterprise, cooperative, NGOs, donor, farmer, public, private and academic research participants). In addition, several statistical and multivariate research techniques that facilitate methodological triangulation are used in the quantitative analyses. Furthermore, qualitative and quantitative results can mutually validate. Several authors have raised concern about the issue of selectivity bias, or self-selection bias (see example Ali and Abdulai, 2009, Mendola, 2007, Shankar and Thirtle, 2005), such as in this study farmers are not random assigned by the researcher into participation and non-participation groups, and instead self-select themselves into groups. There are many solutions to the selectivity problem, including Heckman correction models, panel data methods, etc. In this study, therefore, the propensity score matching method was used to be addressing t his issue. Finally, the practicability is also taken into account, especially for the quantitative phase, which was conducted in two case studies. The case studies selected for the survey are important social enterprises, which are most important producers/suppliers for modern trade markets in Thailand. In addition, kind of products and the geographical selections were very practical in terms of budget and crop season limitations as well as in term of socio-economic conditions. 5.6 Methods of Analyses The study has two parts of analysis methods, according to the objectives of the study, which organized into two empirical studies as the following; Value Chain Analysis; value chain mapping à ¢Ã¢â€š ¬Ã¢â‚¬Å" in order to achieve the objective 1 and 2. Econometric and Statistic Processing of Survey data à ¢Ã¢â€š ¬Ã¢â‚¬Å" in order to achieve the objective 3 and 4. 5.6.1 Value Chain Mapping The value chain mapping helped to understand the patterns of agri-food supply chains, forces and trends driving the future food value chain and market development, including the role of social enterprises in helping smallholders with food retail transformation in Thailand. There are many different dimensions of Value Chain Analysis techniques (see example Kaplinsky and Morris, 2002 and Roduner, 2004). However, this research followed the value chain work plan as the following. Value chain work plan This study adopted an approach follow a simple practical methodology borrowed from Miles (2002) and Holtzman (2002) found in the World Bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s online à ¢Ã¢â€š ¬Ã…“Guide to Developing Agricultural Markets and Agro-enterprisesà ¢Ã¢â€š ¬?.The development of a 9 steps work plan is the combination of these approaches that describing the sequence of efforts needed to construct a viable and representative value chain map for the selected case studies. A flow chart il lustrating the overall procedure is depicted in Figure 4. Figure 4. Employed work methodology: chain construction and sector analysis. Part I Establish initial understanding of commodity subsetor Product selection Step 1 Review of existing literature data Step 2 Preliminary interviews/fieldwork Step 3 Identification key issues questionnaire design Step 4 Drawing of preliminary (Value Chain) map Step 5 Part II Refine map and subsector understanding Extensive fieldwork: interview of chain actors Step 6 Visiting of physical facilities institutions Step 7 Quantification and refinement of map Step 8 Re-assessment of results by actors and map finalization Step 9 The value chain mapping helped to understand the patterns of agri-food supply chains, forces and trends driving the future food value chain and market development, including the role of social enterprises in helping smallholders with food retail transformation in Thailand. This methodology helped to understand the patterns of agri-food supply chains in Thailand. In addition, this part gained understanding of the patterns of agri-food supply chains in Thailand and business potential such as markets, inter-firm relationships, and critical constrains that limit small-scale farmers growth and industry competitiveness. à  Ã‚ ¸Ã… ¡Ãƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸?à  Ã‚ ¸Ã‚ §Ãƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ ²Ãƒ  Ã‚ ¸Ã‚ ªÃƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ §Ãƒ  Ã‚ ¸Ã¢â€ž ¢Ãƒ  Ã‚ ¸Ã¢â€ž ¢Ãƒ  Ã‚ ¸Ã‚ µÃƒ  Ã‚ ¹Ã¢â‚¬ °Ãƒ  Ã‚ ¸Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¹Ã¢â‚¬Å¾Ãƒ  Ã‚ ¸Ã¢â‚¬ Ãƒ  Ã‚ ¹Ã¢â‚¬ °Ãƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¹Ã¢â‚¬Å¾Ãƒ  Ã‚ ¸Ã‚ £Ãƒ  Ã‚ ¹?à  Ã‚ ¸Ã‚ ¥Ãƒ  Ã‚ ¹Ã¢â‚¬ °Ãƒ  Ã‚ ¸Ã‚ §Ãƒ  Ã‚ ¸Ã¢â‚¬Å¡Ãƒ  Ã‚ ¹Ã¢â‚¬ °Ãƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸Ã‚ ¡Ãƒ  Ã‚ ¸Ã‚ ¹Ãƒ  Ã‚ ¸Ã‚ ¥Ãƒ  Ã‚ ¸Ã¢â‚¬â€Ãƒ  Ã‚ ¸Ã‚ µÃƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¹Ã¢â‚¬Å¾Ãƒ  Ã‚ ¸Ã¢â‚¬ Ãƒ  Ã‚ ¹Ã¢â‚¬ °Ãƒ  Ã‚ ¸Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¹Ã¢â€š ¬Ãƒ  Ã‚ ¸Ã…  Ãƒ  Ã‚ ¸Ã‚ ·Ãƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸Ã‚ ¡Ãƒ  Ã‚ ¹Ã¢â‚¬Å¡Ãƒ  Ã‚ ¸Ã‚ ¢Ãƒ  Ã‚ ¸Ã¢â‚¬ ¡Ãƒ  Ã‚ ¹?à  Ã‚ ¸Ã‚ ¥Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¸Ã‚ ¡Ãƒ  Ã‚ ¸Ã‚ µÃƒ  Ã‚ ¸Ã¢â‚¬ ºÃƒ  Ã‚ ¸Ã‚ £Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¹Ã¢â‚¬Å¡Ãƒ  Ã‚ ¸Ã‚ ¢Ãƒ  Ã‚ ¸Ã…  Ãƒ  Ã‚ ¸Ã¢â€ž ¢Ãƒ  Ã‚ ¹Ã…’à  Ã‚ ¸Ã¢â‚¬ ¢Ãƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸?à  Ã‚ ¸Ã‚ ²Ãƒ  Ã‚ ¸Ã‚ £Ãƒ  Ã‚ ¸Ã‚ §Ãƒ  Ã‚ ¸Ã‚ ´Ãƒ  Ã‚ ¹Ã¢â€š ¬Ãƒ  Ã‚ ¸Ã¢â‚¬Å¾Ãƒ  Ã‚ ¸Ã‚ £Ãƒ  Ã‚ ¸Ã‚ ²Ãƒ  Ã‚ ¸Ã‚ °Ãƒ  Ã‚ ¸Ã‚ «Ãƒ  Ã‚ ¹Ã…’à  Ã‚ ¹Ã¢â€š ¬Ãƒ  Ã‚ ¸Ã…  Ãƒ  Ã‚ ¸Ã‚ ´Ãƒ  Ã‚ ¸Ã¢â‚¬ ¡Ãƒ  Ã‚ ¸Ã¢â‚¬ ºÃƒ  Ã‚ ¸Ã‚ £Ãƒ  Ã‚ ¸Ã‚ ´Ãƒ  Ã‚ ¸Ã‚ ¡Ãƒ  Ã‚ ¸Ã‚ ²Ãƒ  Ã‚ ¸Ã¢â‚¬Å"à  Ã‚ ¹Ã†â€™Ãƒ  Ã‚ ¸Ã¢â€ž ¢Ãƒ  Ã‚ ¸Ã‚ ªÃƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ §Ãƒ  Ã‚ ¸Ã¢â€ž ¢Ãƒ  Ã‚ ¸Ã¢â‚¬â€Ãƒ  Ã‚ ¸Ã‚ µÃƒ  Ã‚ ¹Ã‹â€ Ãƒ  Ã‚ ¸Ã‚ ªÃƒ  Ã‚ ¸Ã‚ ­Ãƒ  Ã‚ ¸Ã¢â‚¬ ¡ 5.6.2 Econometric and Statistic Processing of Survey data Two different sets of econometric models were applied on collected survey data; Probit models of the determinants of smallholder participation with social enterprise in producing for modern trade markets. With data on participants and comparable non-participants in place, these models estimated the following kinds of relationships: Probability of Participation = f(demographic, socio-economic, attitudinal variables) Here, demographic information included variables such as age, family size, education of household head, etc; socio-economic variables may include income, experience in farming, farm size, etc; attitudinal variables included a small number of scale variables that attempt to proxy the smallholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s welfare priorities, attitudes to risk, etc. Regression models of the determinants of farm economic outcomes (profits per rai). Profits per rai = f(farm variables, socio-economic and farmer variables, participation in modern trade chains). Th ese helped determine the effect of participation with social enterprise in producing for modern trade chains on key farm outcomes, while controlling for other variables that may affect outcomes. A selectivity/endogeneity problem is recognized in such estimation equations, and ways to overcome such problems was explored during analysis stage. In addition, the statistic tool; Factor analysis, was applied on collected survey data; Factor Analysis of the motivation and potential benefits of participant farmers including problems faced by participant farmers. This analysis helped us to look at factor of the motivation and problems faced by participant farmers. The factor interpreted by identifying the variables that have a large loading on the same factor. These methods are described below. Probit regression analysis. In analysis of dependence when the dependent variable is discrete, choice or probability models are used. A particular dependent variable used in this research is the participation with social enterprise in producing for modern trade markets. Explanatory variables are used for determining the probability of the participation with social enterprise in producing for modern trade markets. Probit regression is associated with the estimation of the probability of participation (see example Lattin et al., 2003; Greene, 2000, and Blandon, 2007). To test the determinants of participation with social enterprise in production for modern trade, a probit model is estimated in which the dependent variable equals 1 if the farmer is participate with social enterprise in producing for modern trade markets, and zero otherwise: Yi* = ÃŽÂ ² Xi + ui , (1) where Y = 1 if Yi 0, otherwise Y = 0, and Probability (Yi = 1) = Probability (ui ÃŽÂ ² Xi) = 1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" F(à ¢Ã¢â€š ¬Ã¢â‚¬Å" ÃŽÂ ² Xi), where F is the cumulative distribution function for u  [1]  . The ÃŽÂ ² are maximum likelihood estimates. For a description and discussion of the probit model, see, for example, Maddala, 1998, 22-27. The theoretical concept of the probit model application with a list of factors that were indentified from previous studies (see for example Braun, Hotchkiss and Immink, 1989 and Blandon, 2006) and the information provided by in-depth interviews and survey is the following: It is hypothesized that the choice to become a participant farmer was determined by the expected income increase, which can be assumed to be determined by the resource endowments of the farm (farm size, soil quality, land elevation, distance of farm from main road and distance of farm to market). In addition, income potentially earned non-farm determines the of opportunity cost of working on-farm. In the long-run, farmers are facing a choice of earning non-farm income versus on-farm work growing the labour intensive for modern trade crops, especially for organic farming. This choice is determined by the non-farm versus on-farm opportunity costs of family labour. Endowment of human capital and established non-farm employment opportunities determine these relationships for a specific household. It is further hypothesised that household labour force size and composition (womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s share) may be a factor for adoption. A higher share of womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s labour may enhance participation of the modern trade crop. Since the decision is mainly that of the male head of household, his age, education level, and experience in farm are other factors of hypothetical impact for the participation. Based on these hypotheses, the participation model is specified as follows: Participation = f (Hsize, Adult, Female, HHsex, Hhage, Hhedu, Expf, Froad, Fcoop, Fsize, Land, Qsoil, Hincome, Nfincome, NfinL, WealthIndex), where Hsize = hous e size (all members in the family), Labour = total labour available in the household (that is, persons of working age), Female = total female in the household Hhsex = sex of head of household (1 male, 2 female), Hhage = age of head of household (years), Hhedu = head of household education (years) Expf = head of household expericenc in farming (years), Froad = distance of farm from main road (km) Fcoop = distance of farm from cooperative (km) Fsize = farm size (rai). Land = land elevation (1very low land à ¢Ã¢â€š ¬Ã¢â‚¬Å" 4 high) Qsoil = soil quality (1 very bad à ¢Ã¢â€š ¬Ã¢â‚¬Å" 5 excellent) Hincome = yearly household income (Baht) Nfincome = non-farm income (%) NfinL = non-farm income from providing labour share (%) Wealth Index = calculated from house area and householdà ¢Ã¢â€š ¬Ã¢â€ž ¢s assets e.g. car, bicycle and TV The empirical analysis was conducted using the STATA statistical package. The probit estimates can be used to der ive linear probability of participating modern trade crop product, which can be approximated by dF/dx (marginal effect). Table 5.xx is shown a list of socio-economic, farm characteristic variables and attitudinal variables? that hypothetically determine small-scale farmers participation with social enterprise in the modern trade chain which has been used in probit regression. This original set of variables has been chosen considering the literature review and the information provided by in-depth interviews and survey. (see for example Braun, Hotchkiss and Immink, 1989 and Blandon, 2006) Further discussion about these variables presented in the results (please see chapter 7: Results 1 Green Net, and Chapter 8: Results II -The Royal Project). The expected relationships of the explanatory variables and the probability of participating with social enterprise in modern trade chains are also presented in Table 5.xx. Table 5.xx à ¢Ã¢â€š ¬Ã¢â‚¬Å" Explanatory variables and descriptive statistics determining participation with social enterprise in producing for modern trade. Variables Description Expected Sign Type* Dependent Variable: Participation with Green Net (social enterprise) in production for modern trade 1=yes, 0 = no N/A Independent variables: House size (members in the family) person + SE Total labour available in household person ? SE Total females in house hold person SE Sex of head of household Male/Female ? SE Age of head of household Years ? SE Education of head of household Years + SE Experience in farm of head of household Years + SE Distance of farm from main road km FC Distance of farm from social enterprise km FC Area of farm size rai + FC Land elevation 1 very low land à ¢Ã¢â€š ¬Ã¢â‚¬Å" 4 high + FC Soil quality 1 very bad à ¢Ã¢â€š ¬Ã¢â‚¬Å" 5 excellent + FC Yearly household income Baht + FC Proportion of non-farm income % FC Proportion of providing labour share % FC Wealth Index scale + AV Note: * SE stands for socio-economic; FC for farm characteristics, AC for attitudinal variables Regression analysis (Gross Margins Regression) This study used the simple form multiple regression analysis finding the best predicted by a linear combination of the possible explanatory variables to explain how the variation in farm economic outcomes (or dependent) variable, Y, depends on the variation in a predictor (or independent or explanatory) variable, X. The general regression model is given by: Yi = ÃŽÂ ²0 + ÃŽÂ ²iXi + ui where the values of ÃŽÂ ²0, ÃŽÂ ²i are called the regression coefficients and are estimated from the study data called least squares, explained by Lomax  [2]  (1992). The regression models was employed to explore the determinants of farm economics outcomes which helped determine the effect of participation on key farm outcomes (profits per rai), while controlling for other variables that may affect outcomes. It is hy pothesized that the farm outcomes (profits per rai) was determined by the farm variables, socio-economic, farmer variables, and participation with social enterprise in production for modern trade. Based on the hypothesized, the profits per rai regression model is specified as follow: Profits per rai = f(farm variables, socio-economic and farmer variables, and participation with GN) The empirical analysis was conducted using the STATA statistical package. In addition, a selectivity/endogeneity problem is recognized in such estimation equations, and ways to overcome such problems will be explored in the next section (section Selectivity bias The above gross margin regression analysis explores the determinants of farm economics outcomes which help determine the effect of participation on key farm outcomes. There is however, one very important econometric issue with the gross margin regression which needs to be addressed. This is the issue of selectivity bias, or self-selection bias because farmers are not randomly assigned by the researcher into participation and non-participant groups, and instead self-select themselves into groups. In consequence, this profitability difference does not necessarily indicate that participant farmers have a positive impact on profits because it could be caused by selection bias. It is possible that more talented or more enterprising farmers tend to become members of Green Net. Since more talented farmers make higher profits than less talented farmers, it may appear that Green Net membership is increasing profits. In reality, it may be the higher underlying talent levels of participating farmers that creates extra profits. If this is true, then the regression coefficient of gross margins on participation would not really reflect the effect of participation, but rather the mix of the effects of participation and the underlying talent levels. There are many solutions to the selectivity problem, including Heckman correction methods, panel data method, etc. The method for this study is à ¢Ã¢â€š ¬Ã…“propensity score matchingà ¢Ã¢â€š ¬?method. The basic idea behind propensity score matching method is as follows. The probit model of participation produces a probability of participation for every observation in the sample, including participants and non-participants. This predicted probability (called the propensity score) is based on the observed values for the independent variables and the coefficient estimates from the probit model. In one version of propensity score matching, every participant will be compared to a non-participant based on similarity of propen sity scores. Their outcomes will be compared, i.e, the difference between their gross margins will be computed. Once this is done for all participants, the differences will be averaged and reported as the average difference. This version is called à ¢Ã¢â€š ¬Ã‹Å"nearest neighbourà ¢Ã¢â€š ¬Ã¢â€ž ¢ matching (NNM). The intuition is that, controlling for the probability of participation, ie., comparisons of participants and non-participants with similar propensity scores, is similar to random assignment to control and treatment groups. There are other versions of propensity score matching. Another method is called à ¢Ã¢â€š ¬Ã‹Å"kernel-basedà ¢Ã¢â€š ¬Ã¢â€ž ¢ matching (KBM). Here, the outcome of each participant is compared to the weighted average outcomes of all non-participants, where the weights depend on the probability of participation. The output will show a row called à ¢Ã¢â€š ¬Ã‹Å"ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢, the average treatment effect on the treated. The value in this row s hown as à ¢Ã¢â€š ¬Ã‹Å"differenceà ¢Ã¢â€š ¬Ã¢â€ž ¢ is the average difference between gross margins of participants and non-participants after matching. It also gives a t-statistic that used for doing a t-test. This study employs statistical matching to address the problem of selection bias. This involves pairing participants and non-participants that are similar in terms of their observable characteristics (Dehejia and Wahba, 2002). When outcomes are independent of assignment to treatment, conditional on pretreatment covariates, matching methods can yield an unbiased estimate of the treatment impact (Ali and Abdulai, 2010). It follows that the expected treatment effect for the treated population is of primary significance. This effect may be given as à Ã¢â‚¬Å¾ I I=1 = E (à Ã¢â‚¬Å¾ I I = 1) = E (R1 I I = 1) E (R0 I I = 1) where  Ãƒ Ã¢â‚¬Å¾Ãƒâ€šÃ‚  is the average treatment effect for the treated (ATT),  R1  denotes the value of the outcome for p articipant farmers and R0  is the value of the same variable for non-participant farmers. As noted above, a major problem is that we do not observe E (R0 I I = 1).   Although the difference [ à Ã¢â‚¬Å¾e = E (R1 I I = 1) E (R0 I I = 1) ] can be estimated, it is a potentially biased estimator. In the absence of experimental data, the propensity score-matching model (PSM) can be employed to account for this sample selection bias (see for example Ali and Abdulai, 2010; Dehejia and Wahba, 2002). The PSM is defined as the conditional probability that a farmer participation, given pre-participation characteristics (see for example Ali and Abdulai, 2010; Rosenbaum and Rubin, 1983). To create the conditions of a randomised experiment, the PSM employs the unconfoundedness assumption also known as conditional independence assumption (CIA), which implies that once  Z  is controlled for, participation is random and uncorrelated with the outcome variables as poin ted out by Imbens and Wooldridge (2009).  The PSM can be expressed as, p(Z) = Pr {I = 1IZ} = E{I I Z} Where I = {0, 1}  is the indicator for participation and  Z  is the vector of pre-participation characteristics. The conditional distribution of  Z, given p(Z) is similar in both groups of participants and non-participants. The empirical analysis was conducted using the STATA statistical package. Factor analysis This analysis explores the motivation and main problems faced by participants farmers. The respondents were presented with a list of factors indentified from the literature, focus group and in-depth interviews suggesting potential problems faced by small-scale farmers. They were asked to indicate the important each issue on a Likert scale ranging. First, the mean important score method was used to indicate the important motivation and main problems faced by participant farmers. Then, to enable the factor of participation and problems faced by participant farmers to be better understood and classified into subsets, the importance score were subjected to Factor Analysis. Factor analysis is a multivariate method of exploring the structure of data with the object of data reduction and interpretation, particularly in marketing research which may consist of a number of variables and must be reduced to a manageable level. Therefore, factor analysis allows us to look at a group of va riables that tend to be correlated to each other and allows us to indentify underlying dimensions that explain these correlations (Malhotra, 2007). In terms of the results, the variables included in this analysis were categorised into groups of variables. The next step is testing the appropriateness of the factor model. The useful statistic is the Kaiser-Meyer-Olkin (KMO), which normally states that a value of KMO greater than 0.5 indicates that the correlation between the pair of variables is desirable. Once the factor analysis demonstrated that it is a proper technique for analysing the data, Principle Component Analysis (PCA), which is one of the most common approaches of factor analysis, is implemented due to the recommendation for the data use in subsequent multivariate analysis. The small numbers of variables were extracted from PCA, which there are several procedures for determining the number of factors (or so-called, principle components). The common approaches are based on Eigenvalue, scree plot (a plot of the Eigenvalue against the number of factors) and the percentage of variance, etc. The first determination is done by only using factors with an Eigenvalue equal to 1 or greater in the analysis. Finally, the factor can be interpreted by indentifying the variable that have a large loading on the same factor. In addition, the factor rotation following the à ¢Ã¢â€š ¬Ã…“Varimaxà ¢Ã¢â€š ¬? method by means of orthogonalization of the factor can help the interpretation to become simpler and more accurate (Malhotra, 2007). The empirical analysis was conducted using the SPSS statistical package Finally, the study gathered together the value chain analysis (supply chain map) and discussions from the first stage, and the quantitative insights from the second stage to comment on what has been added to the existing stock of knowledge on smallholders coping with food transformation and the role of social enterprises, and make broad policy reco mmendations for the sector. Table 5.xx Decision tree of analysis techniques: 1. Quantitative Analysis Econometric methods Research Questions Number/kind of dependent variable Number/kind of independent variables Analytic strategy Goal of analysis RQ7 Multiple (discrete) Multiple (continuous) Probit Analysis Inverse  cumulative distribution function   associated with the standard  normal distribution RQ9 Multiple (discrete) Multiple (continuous) Multiple Regression: Gross Margin Regression Relationship between several independent or predictor variables and a dependent or criterion variable Strategy: Propensity score matching method Solve the problem of selectivity bias, or self-selection bias Statistic methods Research Questions Variables Analytic strategy Goal of analysis RQ8 Multiple (continuous) Factor Analysis Correlation linear combination of dependents variables with independent variables RQ8 Significant difference of mean scores? Strategy: Wilcoxon Signed rank (0.05%) Significant difference of paired mean scores 2. Qualitative Analysis Research Questions Index Analytic strategy Goal of analysis RQ1, RQ2, RQ3 RQ4, RQ5, RQ6 FIGURES xxxxxxxxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxx TABLES xxxxxxxxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxx Value Chain Analysis Strategy: supply chain mapping technique Understanding the patterns of agri-food value chains and business potential such as markets, relationships, and critical constrains that limit small-scale farmers growth and industry competitiveness. 5.7 Conclusions In this chapter the data used and research methodology in this study were presented and discussed. The data collection was divided into four stages (2 phases) in order to facilitate the achievement of research objectives. Both qualitative and quantitative information was collected. The first one consisted of secondary information and in-depth interviews (using semi-structured questions) with different players of the agri-food value chains and social enterprises in Thailand. This information was very useful for making a general characterization of the agri-food value chain restructuring and the role of social enterprises in helping small-scale farmers participate with the modern trade markets as well as for designing the questionnaire used for collecting quantitative data through a survey of participant and non-participants farmers in the modern trade chains. In the same way, qualitative information complements and helps to interpret quantitative results. A summary and discussion of quantitative methods were provided in this chapter. Probit regression analysis can assess the determinant factors of small-scale farmers participating with social enterprise in producing for modern trade markets. Gross margin analysis and selectivity bias methods can compare the profitability of participant and non-participant farmers. Moreover, the mean importance scores and Factor Analysis can assess the impact on farmers of a number of problems (variables) faced by small-scale farmers. The following chapters (Chapter 7 and Chapter 8) place the study within the findings regarding the characterization of the agri-food value chain and the role of social enterprises in Thailand.

Wednesday, May 6, 2020

The Adventures Of Huckleberry Finn By Mark Twain - 3807 Words

Racism still exists in some forms of modern society today. Racism encompasses the beliefs that â€Å"inherent differences among the various human races determine cultural or independent achievement† along with the belief that one race is inferior to another ( Mark Twain bases a large amount of conflict off of racism in his novel The Adventures of Huckleberry Finn. Twain reveals the significant differences between†¦show more content†¦When traveling on the river Huck has the freedom to be who he wants and to do what he wants. Here he does not have to â€Å"accept society’s treatment of Jim† which also shows his individuality. Huck also treats Jim like any other friend of his while they travel on the river, because he isn’t under the critical eyes of society. While off of the river and on land Huck changes his actions, even his identity, in order to fit into society. A large part of him doing so is in order to protect Jim. In particular, slavery acts as an inhibitor to the majority of instances of racism in the novel, especially since Twain sets his novel before the American Civil War. Considering slavery in America dates back to America’s beginning years, the official slave trade beginning in 1619 and progressing to move over 12 million slaves by the time it came to an end in 1850, one cannot ignore Twain’s deliberate choice of setting (National Parks Service). Although slavery is not the sole cause of racism in The Adventures of Huckleberry Finn it occurs frequently throughout the novel. Mark Twain characterizes Huck Finn as one of the few dynamic characters who was not raised by racists, which leads him to hold a true friendship in a time of harsh racial discrimination. The use of racism throughout the novel helps to show how different levels of society interact and how one boy defies the social norm. Mark Twain uses the motif of racism to develop a theme of

Psy 202 Self Reflective Free Essays

Inside The Life of a Persevering Adult: A Self Reflection Amber Ward Psy 202 Professor Stephen Law October 25, 2012 I. What was your family like? A. Single parent strict home B. We will write a custom essay sample on Psy 202 Self Reflective or any similar topic only for you Order Now Middle of three children C. Parent’s divorce and father’s absence II. What things do you remember about your childhood? A. Financial Hardships B. Good times along with tough times C. Becoming independent at a young age D. Things chosen to forget about E. Sports III. Greatest achievements A. Career B. Abuse survivor C. Return to school IV. What are your personal, professional, and academic goals? A. Demonstrating the importance of a college education to my peers B. Owning my own preschool C. Earning my bachelors degree Throughout life, we all have pitfalls that we believe hold us back from dreams, but I believe that we have the opportunity to persevere and move forward in the future. On a daily basis, we make decisions using the conscious mind and try to apply the adult development theories when making those decisions but, we may not always apply them correctly. Although my story may be one of a series of pitfalls and setbacks, I will prove to others that perseverance has pulled me through those pitfalls and setbacks and has gotten me to where I am today. I do not see my pitfalls as mistakes, but rather as life lessons that have contributed to bettering my life and shaping who I am today. Life does not create a person; a person creates their own life. While we all have different journeys that lead us to where we are today, my life has been one that I look upon as a true persevering story. Throughout my childhood, I learned the importance of hard work and dedication to family. My father was from a military family and was strict the couple years he was around. While some might consider his discipline style and strictness out of the ordinary, I appreciate what he did and how he taught me the value of respect. At times, growing up as the middle child in a broken family was not an easy life. I believe that I had to do what my sisters were doing. I constantly thought that my mother only took my sisters wants and needs into consideration, and that led me to seclude myself. I allowed my father’s disappearance to take me away from reality and grew up resenting my immediate family. I regularly kept to myself in my room and was the different one in the family. This self-perception from others led me down a deep path of depression; I chose to hear only what I wanted to hear when my family tried to communicate with me and that created problems for me. Despite my father’s disappearance, my father made several attempts at talking with me and trying to understand why I was in such a dark place. Instead of talking to anyone I chose to ignore what they viewed as kindness and chose to ignore them. The majority of my childhood often seems to be put in the back of my mind. I remember key events but little to nothing else. I do not remember the name of a single friend from any grade all the way through college as I did not have many; I had select programming in my brain that allowed me to keep only those treasured times in my memory to fight the depression. I do remember growing up with financial hardships. Looking back, I now realize that there were many other children that had it much harder than my family did. I believe that these financial hardships came about during my parents’ divorce, when I was two years old. I am lucky to say, I have never gone without a meal though and could count on having clean lothes for school. My mother always tried to push me to do those activities that my sisters participated in. However, even though I played soccer and softball I still felt let out as these activities were not of my liking. My sisters excelled in both sports causing me to gain a sense of jealousy. I then became even more withdrawn from society and would go to bed crying every night. At the age of eighteen, I decided I did not want to be alone, so I started online dating. I then was constantly staying with others and chose my relationships with these men over my family. Despite my family’s pleas and wishes to get out of those bad relationships, I had to learn on my own. At the time, I blamed my family for everything I believed to have caused a horrible relationship and broken family. Before long I got taken advantage of and abused in every way possible by the guys I was dating. I worked every day but would spend all my time and money on my relationships and get nothing in return. Within an unusually short time frame, I reminded myself of a lesson my parents attempted to teach me: It is better being alone than in a bad relationship. At the wise age of twenty two, I got hurt so miserably I thought about giving up on life. Initially, I ignored the situation and did not realize the seriousness of it until I woke up one cold and out of it with bruises and not remembering what had happened the night before. I quickly realized that I needed to seek support and get out of that relationship before I die. After speaking with my father after two years, I decided that I should move out of town with him. My father would provide me with somewhere to live and a fresh start on life. Within three weeks, I moved to Ventura, California where I now reside and started with a clean slate. The move brought about a new perspective on life and gave me time to evaluate myself. I gained a new respect for myself and appreciation for those that tried to reach out. All of the past relationships were now past experiences. However, not having a relationship and being so torn caused me to need counseling for severe post traumatic stress disorder. I still believe calling my dad saved my life. Upon entering my second month of counseling, I enrolled in classes at American Intercontinental University. I viewed college as an opportunity to prepare for my future and to prove to myself that I am worthy of finishing something I had always wanted. I found myself surrounded by many supporters that drove me to succeed and encouraged me every step of the way. During the last weeks of my first semester of college, my life changed forever. I spent the night in a psychiatric hospital for wanting to end my life in the past. I had everything taken from me and had to force the nurses to inform my father where I was since I lived with him. I cried that entire night and did not sleep all but maybe ten minutes in the twenty four hour period. All my classes received failing grades as it was finals week and, policy was a student must attend finals and my world came crashing down. Upon my exit, I became a full time nanny and began my career. However, I still wanted to stay true to myself and wanted to complete my associate’s degree and then obtain a bachelors degree. John Holland’s personality theory states â€Å"People feel that their job is fulfilling if there is a match between some features of their work and their personality† (Witt amp; Mossler, 2010, pg. 30). This statement could not pertain more to me when describing my career in the childcare field. My time with the children has been one of the most challenging and rewarding experiences of my life. I have been fortunate to be blessed with loving families that I work for that have now become my own. By taking advantage of these opportunities presented, I am well on my way to opening my own preschool-based daycare center. Though I have faced many setbacks, I have chosen to use each one as a learning experience in bettering my future. During the abuse, I remembered that there is someone out there that does love me and is worth my time. I am truly fortunate to have lived through an instance that was so tragic and could have taken my life. While my career in childcare has been one of my most valued experiences, one of my most rewarding experiences would be getting the opportunity to live. My family always told me there is a reason why I am on this earth; they could not have been more correct. Being able to survive a tragic attack made me value what I have; With a now loving boyfriend of one and half years and a supportive family at my side cheering me on I now know why I must continue to persevere and not let anything stand in the way of my hopes and dreams. My drive in life is now not one of satisfying only others that did not care about me, but now one of self respect and dignity. I want to do everything to prove that I can use perseverance to get through anything or anyone that tries to knock me down. As I continue to move through life I accept every day as a new beginning; I believe that too many people settle for less than what they deserve because they think their goals are out of reach once someone or something tries to block their path. Very few people achieve anything significant without first overcoming obstacles as seen in Zeleznocks article saying â€Å"If at first one does not succeed, try again† (Zeleznock, 2008, pg. 1). What life has taught me is that if one lets setbacks control their life they will never move forward. In order to have a positive self image one must push to succeed and maintain self worth. Using setbacks and allowing others to make your decisions will only result in regret and lead one down a life of self doubt. Each day I view as a new beginning and an opportunity to learn and grow with others. As I accept new challenges, I look upon my past as a foundation for building knowledge and wisdom. If I am able to use perseverance to maintain my focus and achieve my goals, I will live a life of happiness. Despite my own inability to recognize it at the time, I have an incredible family that supported me throughout my childhood. I have learned many positive lessons about responsibility and becoming a role model in today’s society. I have a career that I enjoy and excel in. Most importantly, I have a family that supports me and loves me for the individual I have become. While some would look at my life and see only the setbacks, I look into the mirror and see a persevering woman with some hurt that lead me to persevere. While there are these setbacks, I now realize my place in society. I have self respect and love life and look forward to what each day may bring. References Witt, G. A. , amp; Mossler, R. A. (2010). Adult Development and Life Assessment. Retrieved from http://content. ashford. edu/books/30 Zeleznock, T. (2008), amp; Entrepreneurs Whose Perseverance Will Inspire You. Retrieved from http://www. growthink. com/content/7-entrepreneurs-whose-perseverance-will-inspire-you How to cite Psy 202 Self Reflective, Papers

Saturday, April 25, 2020

Online Ordering free essay sample

They need a viable market where they could sell their products and services, and at the same time, take proper actions to keep the market’s patronage and avoid losses. As the times change, success in any venture requires change as well. With the advent of new technology, the internet can be an effective tool to start and expand any entrepreneurial endeavour. We are now living in a fast-paced world and consumers are trying to find more convenient ways to shop for things they need. The days of standing in long queues are waning. Looking from the perspective of a consumer, purchases should be made without exerting too much effort or wasting too much precious time. However, swiftness should not jeopardize the quality of the products and services offered. Substandard goods and services, no matter how swiftly purchased, will never provide satisfaction to consumers who expect only the best for their hard-earned money. We will write a custom essay sample on Online Ordering or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Consequently, customer discontent will be the downfall of any business. PC Manila is a computer parts shop located in SM North EDSA, Quezon City. It has an average of three (3) regular customers per day, and one hundred (100) computer spare parts to be sold and monitored. The owners want to publicize their store with the objective of gaining more customers. Creating a website will be advantageous for the store. The internet is a heavily populated space, and with millions of internet-users every day, PC Manila can eye a bigger market. Customers benefit from online stores as well. Instead of going out and visiting actual shops, they can now make orders without leaving the comfort of their homes or offices. This means consumers do not have to spend time walking or driving to the place, saving them money, gas, and time. All they have to do is visit the website, browse through the products, and choose the ones they want to order – all these consumer power right at their fingertips. 1. 2. 1 Project Rationale Online ordering is one of the best methods to make a business better known and, in the process, be in demand. This is a practical means for consumers with busy schedules because they can easily buy products they desire at a minimum amount of time. It is also a more controllable mode of inventory and store management. Also, the popularity of e-stores and online ordering are acting as catalyst in the further development of the technology (i. e. web designing, probable software advancement). 1. 2 Statement of the Problem Major Statement of the Problem * How will the proponents develop an online store system for PC Manila that will make ordering, and selling their products (computer parts) easier for the customers by means of a website. Minor Statement of the Problem * How will the proponents create user-friendly instructions for the customers. Some websites does not have a friendly appearance and interface; they display confusing instructions and guidelines for the customers. To make it easier for the buyer, the website will provide the item’s description and price. * How will the proponents build a secure and effective system for the website. Some website systems can be easily cracked or hacked by any unauthorized individual. Their system is not effective and strong enough to support the store’s information. * How will the proponents give customers access to the website. Some websites cannot be accessed because there is no proper device being used. Without a proper device, the customers cannot visit the website. 1. 3 Objectives of the Study 1. 3. 1 General Objectives * To create an online ordering system for the store’s customers from where they will benefit, and at the same time will make their transactions faster and more convenient with minimal work. 1. 3. 2 Specific Objectives * To create a website for online ordering In creating online website, clients should first consider its design and structure. We should avoid adding irrelevant objects on the website. We can put some instructions and guidelines on how to order to avoid confusion among customers. To achieve this, an application such as Adobe Dreamweaver can be used. * To create a user-friendly website for the customers/buyers If the website has a friendly appearance, then it should have a friendly interface as well. Its appearance should be pleasing to the users and customers, and the colours should be appropriate. The font and buttons has to be understandable and obvious. The application to be used to create the website’s interface is the Adobe Photoshop CS5. * To build a secure and effective system. This is an important element of the project. To achieve a hundred percent success, the system has to be strong, secure, and effective. The application to be used in this procedure is Microsoft Visual Basic or PHP (Hypertext Preprocessor). * To create an ordering system which can be accessed through a computer desktop or any devices that has an internet connection. Before accessing the website, there should be a proper device to be used. With the use of a personal computer, a tablet, or a mobile phone (with built-in wifi/4G), the customers can visit the website without any problem. Significance of the Study Online ordering system is easy to integrate into any company’s system for carry out services. Consumers are excited about their favourite store adding the convenience of an online ordering system. Online ordering is a flexible benefit because it offers useful, time efficient features for customers and company owners. This technology is growing rapidly with consumers for many reasons. An Online ordering system promotes many benefits such as convenience, order amp; price accuracy, eliminates hold times, no waiting in line and no pressure. The Online ordering system gives consumers the ability to browse the online menu leisurely, increasing the probability of consumer adding to order. 1. 5 Scopes and Limitations Scopes The system will focus mainly on how to order products and building the website structure design to show the customers the products’ price, details, and other information. The system will also keep the records of all the store’s items. The system will provide the item’s accurate information, its use, and its functions. It will also show the company’s information and contact details. Limitations The system cannot allow online renting systems. The online renting system is pointless and unnecessary because as part of the store’s protocol to keep their products in outstanding quality, they do not allow their products to be rented, and product delivery will not be included. 2. 0 Methodology of the Study Fourth Generation Techniques automatically generates source code based on the developer’s specification. They can also enable the developer to specify some characteristics of the online ordering at a high level. The use of Fourth Generation Techniques (4GT) has broadened considerably over the past decade and is now a viable approach for many different application areas. It is a kind of system methodology that encompasses a broad array software tools that have one thing in common. Each enables the software developer to specify some characteristics of software at a high level. There is a little debate that the higher the level at which the software can be specified to a machine, the faster a program can be built. The 4GT paradigm for software engineering focuses on the ability to specify software to a machine at a level that is close to natural languages or using a notation that imparts significant function. The proponents gathered all the information regarding the ordering of Online Avenue. In this phase, the proponents had several visits at SM North EDSA to gather information about the company. During the data gathering, the proponents interviewed Mr. Bobet Cabuoang, the owner of the Online Avenue who gave the information regarding their products and the process of ordering. Also, the proponents analysed their existing ordering system to plan the sequences in online ordering. * Design This phase covers the designing for the proposed system. It focuses on procedural detail and interface of the system. This is where all of the information gathered applied. After analysing what the system needs, the proponents started designing the recommended system that will answer all the needs of the developed system. The interface of the system was made simple and easy to access. The PC Manilas website design was made simple. The proponents did not put unnecessary buttons and instructions to avoid customer’s confusion. The home page displays the stores featured products so the customers can easily rowse some of the available products. * Implementation using 4GT This phase is where all the gathered information is developed in the proposed system. The proponents planned all the possible input for the system. After the planning, the proponents integrate its planned ideas into the representation of the system. * Testing In this phase, after implementing the program codes, the proponents conducted some testing activities for the system to uncover some errors and talk about the opinions for the system. Fourth Generation Techniques Figure 1. 0 4. 0 Documentation of the Current System Home This module is the main page of the website, where the user can see all the basic information of the hardware. This page includes the promotion of the hardware, the category of the products it offers, hardware’s brief history and the different advertisement of the products in the hardware. On the list of the categories of products in the hardware has a link to the list of the products for that category. The homepage for this website should be eye catchy, to get the attention of the customer. * Product The user can view the products that the hardware offers. This page contains all the information of the products that are sold in the hardware. It includes the product name, image, description and price. This page will also help the user to choose the item that he/she needs to order. If the customer decides to order the items, he/she will sign-in in order for him/her to order the products in the hardware. If there is a new customer he/she will need to create an account in order for him/her to order the products from the hardware. * Order This page is where the customer lists or selects all the supplies that he/she will order. The customer has to input his/her full name, email address etc. After choosing the products, the customer will click the Submit button to send the list of the ordered supplies. For the verifying the ordered supplies the customer should wait for at least 24hours then the personnel in charge will send an e-mail to customer for its approval and disapproval of the ordered supplies. This page also contains all the different policies that implements in ordering the products like the location should be specific, the delivery of the products is just within Bulacan.

Wednesday, March 18, 2020

Dubai Financial Market

Dubai Financial Market Abstract Financial markets are important entities in the economy. They have a significant effect on the performance of the national economy, as well as the performance of companies whose shares are listed.Advertising We will write a custom research paper sample on Dubai Financial Market specifically for you for only $16.05 $11/page Learn More Financial markets are places where stocks are traded. Stocks may include company shares, government bonds, and other securities. Foreign currencies are also traded here. In Dubai, the major financial market is referred to as the Dubai Financial Market. It is among the largest financial markets in the UAE region. This article will focus the various aspects of the Dubai Financial Market. Introduction Financial markets are popular economic entities in every nation. These are markets where securities, fungible items, as well as commodities are traded. The prices at which these securities are traded are guided by the laws of demand and supply. Financial markets could either be general or specialized. There is more than one item traded in the general market, unlike the specialized market that deals in a single commodity. Participants in these markets include individuals, companies, as well as government agencies. Financial markets are beneficial in a number of aspects. For instance, they help the organizations raise capital to expand their operations. Financial markets also facilitate risk transfer in what is referred to as derivative markets. Almost each country has its own financial market. In Dubai, there is the Dubai Financial Market (DFM) that was founded in the year 2000 on March 26th. It is headquartered in Dubai, United Arab Emirates. Since its inception, there are over 60 companies that have been listed on the Dubai Financial Market. Most of these companies are domestic, with only a few foreign companies if any. It is important to note that most of the foreign companies listed on Dubai Financia l Market are from the MENA region. They are from countries such as Kuwait, Sudan, Oman, and Bahrain. However, most of these companies have foreign shareholders, among other domestic shareholders. The information regarding Dubai Financial Market will be focused on in this research paper. The history of Dubai Financial Market will be outlined, its functions and objectives, the requirements that a company should meet to be listed here, as well as the growth of companies listed on the market and growth of trading in Dubai Financial Market. History of establishment of DFM Dubai Financial Market was established on the 26th day of March the year 2000. This is the same day when the operations commenced in the market. However, trading of shares did not commence until Wednesday 7th March 2007. It was established as a public institution and it was to function as an independent corporate body. The financial market was established through a resolution that was passed by the Ministry of Economy o f Dubai in the year 2000.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The resolution that led to the formation of Dubai Financial Market was referred to as the Resolution No. 14 of 2000. The organization operates as a secondary market where shares and other securities that have been issued by the public companies are traded. Federal government bonds are also traded here. In addition, the local government, as well as any other public institution has the right to trade its securities in the Dubai Financial Market (Dubai Financial Market, 2013). Financial instruments, as well as local and foreign currencies are also traded. In the year 2005, the Executive Council Decree set up Dubai Financial Market as a Public Joint Company in the United Arab Emirates. The paid up capital for the company was AED 8billion. This amount was to be allotted over 8 billion shares. The par val ue for every share was to be AED 1.6. Twenty per cent of the shares were issued to the public for public subscription. The response to this public initial offer was too positive, which led to a high level of oversubscription. The amount generated added up to AED 201billion, an amount well over the 8billion target. Since it was established, Dubai Financial Market has continued to grow and expand, as well as improve on its performance and services offering. During its first year of operation, the organization had less than 20 listed companies. Some of the companies that were listed by the end of the year 2000 include: Dubai Islamic, Dubai National Insurance and Reinsurance, Emirates Bank, Mashreq, Dubai Insurance, Union Insurance, Union Properties and Agico (Arabian General Investment Corp, or Shuaa), Emaar, Dubai Investment, as well as Tabreed also known as the National General Cooling Company. The company further had a total of 12 brokers who were accredited by the end of 2000. They included: â€Å"Al Sharhan, Commercial Bank International, Dubai International Securities, Dubai Islamic Bank, Dubex Securities International, Emirates Bank International, Emirates Commercial Centre, Mashreq, National Bank of Abu Dhabi, National Bank of Dubai, Shurooq, and Union National† (, 2001). However, it recorded a consistent growth in its first three quarters of the year 2000. It started with 7.17 million shares, which then increased to 7.57 million shares in the second quarter and third quarters. By the fourth quarter, the company had about 9.15 million shares. The growth rate of Dubai Financial Market followed the same pattern as more shares continued to be listed and more companies joined the market. Objectives and functions Every successful organization should have objectives that are well stipulated in a clear and precise manner. All the activities carried out within an organization must be in line with its objectives. Dubai Financial Market was forme d with the major aim of offering securities trading services.Advertising We will write a custom research paper sample on Dubai Financial Market specifically for you for only $16.05 $11/page Learn More The organization aims at providing innovative services in the securities market. It aims at increasing the level of efficiency and effectiveness in the market, as well as enhancing transparency. Creating a liquid environment is another objective of the organization. The financial markets usually have a significant effect on the general economy of the country in which they are operated. A good performance in the financial market is an indicator of a well performing economy (Dubai Financial Market, 2013). On the other hand, if the financial market is performing poorly, then this will be an indicator of a poorly performing national economy. The leaders and managers of Dubai Financial Market are aware of the importance of security markets in an economy, thus they ensure maximum efficiency in the organization. Dubai Financial Market tries to enhance the utilization of the available resources to create an efficient marketplace for securities. The company attempts to utilize the resources as effectively and efficiently as possible (Dubai Financial Market, 2013). Efficiency can also be enhanced by ensuring that investors are well armed with relevant information that will facilitate their decision making. Investors need to make decisions that are well informed; otherwise, they might end up losing their fortunes. Dubai Financial Market ensures that investors have the right and sufficient information to help them in their decision making. In addition, the organization also tries to prevent investors from any form of unfair treatment or improper practices that might discourage them. In doing so, the Dubai Financial Market regulates all the activities that take place in the trading of securities. It ensures that the prices of securities are controlle d by the forces of demand and supply and not by individuals or entities. There is a possibility for individuals or entities that have large numbers of shares to control the market and become unfair to the rest of the investors. The Dubai Financial Market management ensures that this does not happen to ensure fairness and attract more investors. The company offers investment opportunities to potential investors, a function that is said to have a positive influence on the growth of the national economy. People can save through the financial market and trade securities where they make profits. Dubai Financial Market also makes arrangements for the purchase and sale of securities. In doing so, it ensures that the investors are treated in a fair manner. The market further facilitates transfer of securities from one owner to another. In doing so, it establishes a center where deposits transfer and settlements can be conducted. This is done in a system that is highly integrated to make the process speedy and accurate (Dubai Financial Market, 2013). It also ensures a high level of integrity among members and security brokers through establishment of a code of ethics. It provides training to its members to enhance integrity. The company has accredited brokers who help investors in conducting the securities trade.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More There are some people who may not be aware of the processes and procedures followed in the market securities, thus they can get help from these brokers. Finally, Dubai Financial Market gathers any relevant data, as well as statistics regarding securities and prepares reports that are presented to its stakeholders. These reports are important in that they facilitate accurate and relevant decision making by the investors. Listing requirements The term listing refers to the shares of a company being traded on a stock exchange or others on the list of the shares to be traded. For the shares of a company to be listed, it has to apply for listing. However, there are some countries whereby the financial market or the stock exchanges can just list the shares of a company. For a company’s shares to be listed in the market without applying, the shares have to be traded through informal channels actively. The following are the requirements before listing on the Dubai Financial Market. T he company is required to give a brief description of its history and operations. The financial markets aim at listing companies that have a good performance to boost its chances of success. Investors will only want to buy shares of a company that have a healthy performance. Attracting more investors will increase the profitability of the Dubai Financial Market. It is for this reason that it only lists well performing companies. The company is expected to show its financial statements for the past few years prior to its application (Aljifri Hussainey, 2007). The financial statements are good indicators of a company’s performance. If the performance of the company is approved, it is then required to have a sufficient number of securities that are to be placed in the public. This is called a free float and should be possessed in absolute terms, as well as in the percentage of outstanding stock. The company should also be in possession of a prospectus. The prospectus should mee t all the requirements, including opinions given by independent assessors. The company should also be a public company. Once a company meets these general requirements, as well as any other special requirements as it may be required by the Dubai Financial Market, its application can be accepted and its shares start trading in the market. The company is expected to maintain its market value or its share turnover above a certain level that is regarded as critical. If the value falls below this level, then the company can be delisted. When the shares of a company have been delisted, it means that they will no longer be available in the stock exchange and investors will no longer be able to trade them. In most cases, a company whose shares qualify to be delisted is normally performing poorly and its profitability is worryingly low (Aljifri Hussainey, 2007). The company might be declared bankrupt as a result of the poor performance, or it might cease business operations. Investors are n o longer interested in buying such shares since they fear they might lose their money. The shares might also be delisted in an event that the company no longer meets the requirements and the rules of listing. It is important to note that people who trade in shares have a major objective of making profits from the business. Another reason why a company might be delisted from the Dubai Financial Market is when it converts to a private company through an acquisition or a merger. When the shares of a company have been delisted, they can be traded over the counter in some countries. It is worth noting that the fact that the shares of a company have been delisted does not necessarily mean that the company has changed its strategy. The growth of companies listed on DFM When a company’s shares have been listed on the stock exchange, its chances of growth usually increase because it gets funds to expand its operations. The company is able to fund its production through embracing techn ology and innovation, investors get the chance to trade its shares, and the chances of its products or services being preferred by customers are usually higher. A company whose shares are listed on a financial market usually has an added advantage over its competitors. It has a competitive advantage and it can perform better. One of the benefits that companies get from having their shares listed on the Dubai Financial Market is that they can be accessed by international investors. The Dubai Financial Market organizes events whereby international investors are targeted. This increases the diversity of these companies. The listed companies are placed on higher radar and their growth chances are highly boosted. The companies that have been listed on the Dubai Financial Market have this advantage and their growth rate is relatively higher compared to other companies (Aljifri Moustafa, 2007). The events organized by this organization in Dubai give the companies a chance whereby they sho wcase their opportunities for growth, as well as their strategies for the future. Their strategies can be boosted by the foreign investors whereby they can be given relevant information, funding, and other forms of support that would enable them to grow at a higher rate than their competitors. As mentioned earlier, the Dubai Financial Market offers innovative services to companies whose shares are listed on the market. The innovative services further facilitate the rate of growth of these companies. In general, it can be concluded that the companies that are listed on the Dubai Financial Market are at an advantage compared to those that are not listed in terms of growth. Listed companies have better chances of growing and expanding. They are strategically positioned to realize a much better performance currently and in the future. The information they get from the Dubai Financial Market reports facilitate their decision making. Consequently, they are able to make better decisions du e to availability of sufficient information (Aljifri Moustafa, 2007). Decision making is a very crucial activity in an organization. Wrong decisions will have a negative effect on the performance of the company and the growth rate will be retarded. The availability of information gives companies listed on the Dubai Financial Market a better chance to grow. Growth of trading in DFM DFM is one of the financial markets in the world that have had a consistent growth rate, despite the economic problems that hit most parts of the globe starting the year 2007. Most companies have had a poor performance since the recession started in the year 2007. C ompanies have recorded losses and their performance in their respective financial markets has been poor as well. The number of shares traded in the Dubai Financial Market has increased consistently since its establishment in the year 2000. Only 11 companies were listed on the Dubai Financial Market at the end of the first year of its operation s. Today, the company boasts of over 60 listed companies. This is an indicator of a very consistent and rapid growth. Termed as one of the United Arab Emirates leading financial markets, the DFM has recorded nothing but growth since its inception. In the year 2013, for instance, the value of shares being traded in the market increased by a whopping 82.9 per cent hitting a high level of Dh 38 billion from Dh 20.8 billion in the previous quarter. The share index further increased from 1829.2 points to 2222.6 points, representing a percentage increase of 21.5% (, 2013). The companies whose shares are listed on the DFM are at an advantage since the value of their shares is likely to increase. When a financial market performance is good and consistent, the chances of growth for companies whose shares are listed on the market are better. The companies are able to consistently get funds to finance their operations and expand. The companies are also positioned in a better pos ition to build their brand image and gain loyal customers. Brand image is very important for a company’s growth since it makes its marketing efforts easier and cheaper. A brand can even market itself and the marketing expenses are highly reduced. Less expenses means higher profit and more funds to re-invest or expand operations. This further increases the growth chances of an organization. Companies trading in the Dubai Financial Market have been able to grow because they take the advantage of the market’s consistency. Conclusion Financial markets have a very significant effect on the national economy of a country. They give an indication of how the companies in the country are performing. A country that has financial markets that are dynamic is able to achieve an accelerated growth rate. Financial markets help the economy in that they save mobilization. They obtain surplus money from the investors who could be individuals, companies, governments, as well as the public sector. They also facilitate industry growth, development of entrepreneurship, as well as the national growth. They avail the necessary financial resources to companies that are willing to expand their operations or capitalize on potential opportunities. In doing so, the financial markets enhance entrepreneurship. Dubai has had one of the financial markets that are among the best in the UAE region. The Dubai Financial Market has registered a steady growth since its establishment. DFM was able to survive the global economic recession that hit most parts of the globe starting the year 2007. The market has played a significant role in the growth and development of Dubai’s economy. The companies whose shares are listed in the market have benefited a lot from the market’s services and their performances have been highly boosted. It is important for the government of Dubai to continue supporting the Dubai Financial Market to continue accumulating the related benefits. Refer ences Aljifri, K., Hussainey, K. (2007). The determinants of forward-looking information in annual reports of UAE companies. Managerial Auditing Journal, 22(9), 881 – 894. Aljifri, K., Moustafa, M. (2007). The impact of corporate governance mechanisms on the performance of UAE firms: an empirical analysis. Journal of Economic and Administrative Sciences, 23(2), 71–93. Dubai Financial Market, (2013). Background. Retrieved from (2013). DFM posts solid Q2 trading volumes growth. Web., (2001). Dubai Financial Market marks three quarters of growth. Retrieved from