Schools Of Thought
A school of thought is a collection or group of people who share common characteristics of opinion or outlook of a philosophy, discipline, belief, social movement, economics, cultural movement, or art movement.
PEST
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Reinforcement Theory
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a “PEST analysis” is an acronym for analyzing the
external environment (political, economic, sociological/demographic,
and technological) and setting the stage for strategic planning. Also
known as “environmental scanning,” the PEST analysis reviews the environment
of a market—whether emerging or existing—and provides a
snapshot of the external situation that may impact an industry or the
firms within that industry.
Political Environment
Existing government policies and regulations
can deter new entrants into an economy, particularly in
underdeveloped or developing areas of the world, or can swiftly
affect incumbents in an industry with new regulations and policies
that can have both positive and negative results.
Economic Environment
If an area is healthy economically
and the consumers in a region have the means or potential means
for creating purchasing power, then a company may want to consider
selling its product or service in that area.
Sociological/Demographic Environment
In this part of an environmental scan, we look at trends and factors of
the population of our market—for instance, societal attitudes or population
shifts that represent either opportunities or threats to our overall
strategy. Included in this portion of the analysis is perhaps the education
level of the local market, in terms of creating both a workforce and a customer
base for the firm. If the levels are too low, then the cost of creating
training programs for potential employees and educational marketing
methods for potential customers should be taken into consideration.
Technological
Technology refers not only to technology as it is thought of today with
computers and systems to manage business more effectively, but also
to the infrastructure necessary to support modern systems and
processes. Certainly the diffusion of Web-based technology has affected
most organizations, giving even the smallest a global presence
and a cost-effective way to reach millions of potential customers. Thus,
the strategy of an organization may be affected by technological
change, and the velocity of technological change also means this variable
must be monitored constantly.
A firm must look at the condition of the host
country or region’s communication, transportation, and power systems,
as well as the cost of using those systems.
the quality of the end product or service and
the reliability of consistently providing the firm’s product or service to
the end user/customer must be analyzed.
The SWOT Analysis: Identifying Firm SWOT
Strategic planning involves determining long-term objectives, predicting future trends, and projecting the need for new products and services.
Organizations often perform a SWOT analysis: – Strengths, Weaknesses, Opportunities, and Threats
SWOT stands for strengths, weaknesses,
opportunities, and threats. The strengths and weaknesses are
internal factors, whereas opportunities and threats are external factors.
A SWOT analysis can be as high-level or detailed as necessary to understand
and bring to light the challenges and next steps for the firm in
creating strategic initiatives.
To fully understand the firm’s competitors and the competitive
environment, it is imperative that the firm compare its SWOT to its
competition’s SWOT. Most business leaders will want to ensure that a
SWOT analysis is performed on the firm at regular intervals and that
input on the SWOT is gathered from many areas of the organization, as
well as from the customer.
PERFORMING A COMPETITIVE ANALYSIS:
KNOWING THE COMPETITION INSIDE AND OUT
Competitor
evaluation not only gives more insight into the strategies and goals of
the competition but it also provides a bird’s-eye view of the trends and
future of the industry in which the firm operates.
Step 1. Identify the Competition
To analyze the competitive landscape, it is necessary to make a list of
those competitors that compete directly or indirectly with the firm’s
product or service by providing the same product or service to the
customer. (The need that is fulfilled by a product or service is not
necessarily the obvious. For example, in the case of a beauty salon, the
customer need is not necessarily a haircut, but rather the need to look
good and feel happy and attractive.)
Step 2. Identify the Competitors’ Strategies
Analyzing the competitors’ strategies provides the firm an indication of
current trends in the marketplace. This helps the firm determine how
to approach the customer.
Step 3. Determine the Competitors’ Objectives and Goals
This step may also be referred to as determining the competition’s “internal
balance.” The key to properly assessing the competitor is to
know where its value system lies. Because each competitor is different,
it will place various levels of importance on technology, quality, cost,
market share, and mission. Understanding the competition’s objectives
can help the firm identify those things that may differentiate it from
the rest of the pack.
Step 4. Identify Competitor SWOT
it is not only important to assess the competitors’
strengths and weaknesses, just as the firm performed on itself, but it is
also valuable to recognize those opportunities and threats that may be
present for the competition. Identifying the competition’s strengths
and weaknesses allows the firm to identify and assess future moves and
initiatives that could affect both the industry and the firm, while identifying
the opportunities and threats will give the firm an idea of the
kinds of outside forces that could impact the competitor and therefore
attack the firm.
Step 5. Estimate Competitors’ Reaction Patterns
Some competitors react quickly to events in the marketplace, whereas
other competitors take a different approach and react only to selective
events in the marketplace. Others are laid-back and react slowly, while
still others don’t show a pattern of reaction at all. Looking at these behaviors
provides the firm a better understanding of what may occur in an industry
if the firm takes certain actions or implements certain initiatives.
Step 6. Select the Competitors to Attack and Avoid
Some competitors are such large financial powerhouses that it may not
be financially feasible to attack. Some merely put up the front or the
image that they cannot be attacked. It is in this step that it is valuable
to the firm to know the competitors for which an attack strategy would
be profitable and those for which avoidance would be the best policy.
Identifying the weak versus the strong competitors will allow the firm
to make efficient decisions.
Step 7. Create a Positioning Map
To create a visual understanding of the entire competitive landscape, it is
helpful to create a positioning map to provide a visual representation of
the firm’s position compared to the competition.
Competition provides the firm the opportunity to look into the
future. Once all of the information is gathered, a firm can imagine the
competitor’s next move and either do the same if the market supports
it or take a different route, cutting the competition off at the pass.
Competition creates a sense of urgency and often increases
sales for all the competitors who are willing to put up a fight. Once
the firm’s competition is known and understood, the next opportunity
for the firm is to “go deeper” by implementing competitive intelligence.
COMPETITIVE INTELLIGENCE: WHAT CAN YOUR COMPETITION DO FOR YOU?
Competitive intelligence (CI), also referred to as business intelligence,
is often seen as the business world’s secret agent 007. Although no spy
planes or pinpoint cameras are used, competitive intelligence is, according
to the Society for Competitive Intelligence Professionals
(SCIP), “a systematic and ethical program for gathering, analyzing,
and managing external information that can affect [the firm’s] plans,
decisions, and operations. Specifically, [CI] is the legal collection and
analysis of information regarding the capabilities, vulnerabilities, and
intentions of business competitors, conducted by using information
databases and other ‘open sources’ and through ethical inquiry.” In
other words, CI is the company’s radar.
Companies use CI for any number of reasons: assessing a competitor’s
strategies, defining the competitive landscape, discovering and
assessing trends in the industry, or identifying new opportunities that
may not have surfaced earlier in the competitive analysis process. CI
is not market research, as it is more forward looking, nor is it industrial
espionage, because it is legal, but rather a systematic and timely
process for understanding the current competitive environment. When
combined with internal firm analysis, CI can provide a manager with a
more complete picture of the decisions that need to be made to retain
the firm’s competitive advantage.
CI is valuable for many reasons. It can both help decrease the
possibility for risk and help the firm avoid unnecessary or additional
costs. In terms of savings, it can increase revenues and save time,
which translates into cost savings. CI also provides information for
innovation, product development, and targeted marketing by validating
trends, clarifying events, and providing discovery and insightful
information.
Because any effective strategic marketing plan requires that a
firm keep close track on a regular basis of the competitors’ plans and
actions, there are a number of ways that CI can be done. To find out
information about the competition, the following are a few obvious
or not-so-obvious places where information about the competition
can be found:
. Annual reports. Annual reports of publicly held companies are
an obvious and easily accessible way to learn how a competitor
is revealing itself to its shareholders.
. Press releases. Most firms distribute press releases to generate
public relations. Often, the firm will post these on its web site.
It is advisable to review the press releases over a few months’
time to get a big picture view of where the competitor’s strategy
is heading.
. Trade magazines. Trade magazines provide an up-to-date and
in-depth analysis of the industry and where that industry appears
to be headed.
. Vendors/partners/customers. Another source of solid competitor
information is the patterns of vendors, partners, and customers.
. Salespeople. Salespeople are often very willing to talk about
their companies and provide information that provides insight
into the direction the competition is heading.
✔ Networking. In the process of creating a network for generating
business for the firm, it is possible to hear about the activity
of the competition merely through observing the activities
or events the senior leadership attends.
✔ Local news outlets. Often local, regional, and national news
sources track the activities of local private companies.
✔ 10-Ks and 10-Qs. A public company’s SEC filings are especially
helpful when considered as an evolving story over a
period of years.
✔ External research or professional organizations. Often the best
place to find information about a company is an event
at which representatives of the company have been asked to
speak. This may be at any professional organization’s
monthly meetings or annual conference. In addition, there
are plenty of online resources, including organizations such
as Hoover’s or Dun & Bradstreet, which help if time or
money is a limitation.
✔ Internet. Search engines can be an invaluable source of information.
For example, once the names of the competitors’ senior
management team are available, it is possible to plug a
name into a search engine and reveal a host of information.
Search engines may include sources such as www.google.com
or www.boardreader.com and even www.cnet.com.
Dr Otis Benepe
defined the 'Chain of Logic' which became the core of system designed to fix the
link for obtaining agreement and commitment.
1
Values
2
Appraise
3
Motivation
4
Search
5
Select
6
Programme
7
Act
8
Monitor and repeat steps 1 2 and 3
SWOT was then promoted in Britain by
Urick and Orr as an exercise in and of itself. As such it has no
benefit. What was necessary was the sorting of the issues into the programme
planning categories of:
Product (what are we selling?)
Process (how are we selling it?)
Customer (to whom are we selling it?)
Distribution (how does it reach them?)
Finance (what are the prices, costs and investments?)
Administration (and how do we manage all this?)
Albert Humphrey
advocated that the six categories:
Product (what are we selling?)
Process (how are we selling it?)
Customer (to whom are we selling it?)
Distribution (how does it reach them?)
Finance (what are the prices, costs and investments?)
Administration (and how do we manage all this?)
If it's a business, and the aim is to
improve it, then work on translating:
strengths (maintain, build and leverage),
opportunities (prioritise and optimise),
weaknesses (remedy or exit),
threats (counter)
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Successful businesses build on their strengths, correct their weaknesses and protect against internal vulnerabilities and external threats. They also keep an eye on their overall business environment and spot and exploit new opportunities faster than competitors. Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis is a tool that helps many businesses in this process. |
Strengths: potentially positive internal factors |
Weaknesses: potentially negative internal factors |
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Opportunities: potentially positive external factors |
Threats: potentially negative external factors |
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Strengths
- exclusive access to natural resources - patents - cost advantage through proprietary
know-how
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Weaknesses
- competitors have superior access
to distribution channels
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Opportunities
- loosening of regulations - removal of international trade
barriers
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Threats
- increased trade barriers |
To carry out a SWOT Analysis, answer
the following questions:
Strengths:
What advantages does your company have?
What do you do better than anyone else?
What unique or lowest-cost resources do you have access to?
What do people in your market see as your strengths?
What factors mean that you "get the sale"?
Consider this from an internal perspective, and from the point of view of your
customers and people in your market. Be realistic: It's far too easy to fall
prey to "not invented here syndrome". (If you are having any difficulty with
this, try writing down a list of your characteristics. Some of these will
hopefully be strengths!)
In looking at your strengths, think about them in relation to your competitors -
for example, if all your competitors provide high quality products, then a high
quality production process is not a strength in the market, it is a necessity.
Tip:
For help finding your company's Unique Selling Proposition (USP) or crafting
your competitive edge, read our USP Analysis article.
Weaknesses:
What could you improve?
What should you avoid?
What are people in your market likely to see as weaknesses?
What factors lose you sales?
Again, consider this from an internal and external basis: Do other people seem
to perceive weaknesses that you do not see? Are your competitors doing any
better than you? It is best to be realistic now, and face any unpleasant truths
as soon as possible.
Opportunities:
Where are the good opportunities facing you?
What are the interesting trends you are aware of?
Useful opportunities can come from such things as:
Changes in technology and markets on both a broad and narrow scale.
Changes in government policy related to your field.
Changes in social patterns, population profiles, lifestyle changes.
Local events.
A useful approach for looking at opportunities is to look at your strengths and
ask yourself whether these open up any opportunities.
Alternatively, look at your weaknesses and ask yourself whether you could create
opportunities by eliminating them.
Threats:
What obstacles do you face?
What is your competition doing that you should be worried about?
Are the required specifications for your job, products or services changing?
Is changing technology threatening your position?
Do you have bad debt or cash-flow problems?
Could any of your weaknesses seriously threaten your business?
Carrying out this analysis will often be illuminating – both in terms of
pointing out what needs to be done, and in putting problems into perspective.
Strengths and weaknesses are often internal to your organization. Opportunities
and threats often relate to external factors. For this reason the SWOT Analysis
is sometimes called Internal-External Analysis and the SWOT Matrix is sometimes
called an IE Matrix Analysis Tool.
You can also apply SWOT Analysis to your competitors. As you do this, you'll
start to see how and where you should compete against them.
Important Studies Relating To Motivation
In 1943 Abraham Maslow developed
a theory about human motivation called the hierarchy of needs.
Maslow’s hierarchy of needs consists of
the following general categories:
Physiological needs. These are the first and lowest level of needs.
They relate to the most basic needs for survival and include the
need for food and shelter.
Safety needs. The second level of needs involves an individual’s
need for security, protection, and safety in the physical and interpersonal
events of daily life.
Social needs. The third level of needs is associated with social behavior.
It is based on an individual’s desire to be accepted as part
of a group and includes a desire for love and affection.
Esteem needs. The fourth level of needs relates to an individual’s
need for respect, recognition, and prestige and involves a personal
sense of competence.
Self-actualization. This is the fifth and highest level of needs.
Needs of this level are associated with an individual’s desire to
reach his full potential by growing and using his abilities to the
fullest and most creative extent.
Herzberg’s Factors.
In the 1950s Frederick Herzberg studied the
characteristics of a job in order to determine which factors served
to increase or decrease workers’ satisfaction. His study identified
two factors related to job satisfaction: “hygiene” factors and motivational
factors.
Hygiene factors are those that must be maintained at adequate
levels. They are related more to the environment in which an employee
is working rather than the nature of the work itself. Important hygiene
factors include organizational policies, quality of supervision, working
conditions, relationships with peers and subordinates, status, job security,
and salary.
A different set of factors, identified as motivational factors, is associated
with having a direct effect on increasing job satisfaction.
These factors include achievement, recognition, responsibility, growth,
the work itself, and the opportunity for advancement.
McGregor’s Theory X and Theory Y.
McGregor created two
theories based on his studies, called Theory X and Theory Y.
In the case of Theory X, a supervisor assumes that her employees
are adverse to work and will do everything they can to avoid it. Acting
on this assumption, the supervisor will exert tight control over employees,
monitor their work closely, and hesitantly delegate authority.
In this case of Theory Y, a supervisor assumes that, contrary to
Theory X, workers are willing to work and would be willing to accept
increased responsibilities. In light of these assumptions, the supervisor
will provide employees with more freedom and creativity in the workplace
and will be more willing to delegate authority.
It attempts to motivate
workers by giving them more responsibility and making them feel
more appreciated. It was developed, in part, in the light of Japanese
management practices, which allowed for more worker participation
in decision making and provided for less specialized career paths.
Developed by Victor Vroom, this concept assumes
that the quality of employees’ efforts is influenced by the outcomes
they will receive for their efforts.
the
manager should think about rewards that could serve as possible reinforcers
and how these rewards will have different values for different
individuals. Employees must then be informed about what must be
done to receive these rewards, and managers need to provide feedback
on employee performance.
Equity theory was a result of the work of J. Stacy
Adams and states that when individuals determine whether the compensation
they receive is fair compared to their coworkers’ compensation,
any perceived inequity will affect their motivation.
Examples
of employee behavior may include not working as hard, asking
for a raise, quitting, comparing themselves to a different coworker, rationalizing
that the inequity will be only temporary, or getting a
coworker to accept more work. To limit a perceived sense of inequity,
employees should be compensated to the degree that their efforts contribute
to the firm.
'Carpe diem' is usually
translated from the Latin as 'seize the day'. However, the more pedantic of
Latin scholars may very well seize you by the throat if you suggest that
translation. 'Carpe' translates literally as 'pluck', with particular reference
to the picking of fruit, so a more accurate rendition is 'enjoy the day, pluck
the day when it is ripe'. The extended version of the phrase 'carpe diem, quam
minimum credula postero' translates as 'pluck the day, trusting as little as
possible in the future'.
Carpe diem are the words that begin the last line of a Latin poem by Quintus Horatius Flaccus (65 BC – 8 BC), more widely known as Horace. The poem is in Horace's Odes Book 1, number 11. The phrase is popularly translated as "seize the day" and has become an aphorism. Carpe is the second-person singular present active imperative of the Latin verb carpō, which literally means "I pick, pluck, pluck off, cull, crop, gather, eat food, serve, want", but Ovid used the word in the sense of, "enjoy, seize, use, make use of". It is related to the Greek verb (carpoomae), (I grab the fruit, profits, opportunity), (carpos) =fruit of tree, of effort, etc. Diem refers to "day". "Carpe diem" would be "enjoy the day" or "pluck the day [as it is ripe]".
The meaning is similar to that of many proverbs that we continue to use in
English and is a warning to make the most of the time we have, with the
implication that our time on Earth is short. Other such proverbs are 'Strike
while the iron is hot', 'The early bird catches the worm', 'Gather ye rosebuds
while ye may', and so on.
Tempus fugit is a Latin expression meaning "time flees", more commonly translated as "time flies". It is frequently used as an inscription on clocks. The expression was first recorded in the poem Georgics written by Roman poet Virgil: Sed fugit interea, fugit irreparabile tempus, singula dum capti circumvectamur amore, which means, "But meanwhile it flees: time flees irretrievably, while we wander around, prisoners of our love of detail."
In English, the expression — either in the Latin (tempus fugit) or English form ("time flies") — is proverbial, generally with the intended sense, "Time's a-wasting". As such, it expresses concern that one's limited time is being consumed by nothing in particular or by something which may have little intrinsic substance, importance, or urgency. It can also mean that time seems to pass very quickly, or without notice, such as in the phrase "Time flies when you are having fun."
YOLO is an acronym for "you only live once". Similar to carpe diem or memento mori, it implies that one should enjoy life, even if that entails taking risks. The phrase and acronym are used in youth culture and music, and were popularized by the 2011 song "The Motto" by Canadian rapper Drake.
The phrase has achieved currency in
youth culture. For example, a high school prank in Chicago, Illinois involved
high school students chanting "YOLO". Some people have graffitied "YOLO" on
walls. It has become a popular Twitter hashtag. Some youth have said that it is
their motto, and actor Zac Efron has a tattoo with the acronym. The phrase and
acronym are used in merchandise worn by teenagers such as hats and t-shirts.
Online media including The Washington Post and The Huffington Post describe YOLO
as the "newest acronym you'll love to hate" and "dumb." The word has been
criticized for its use in conjunction with reckless behavior, most notably in a
Twitter post by aspiring rapper Ervin McKinness just prior to his death that
described driving drunk at 120 mph (193 km/h): "Drunk af going 120 drifting
corners #FuckIt YOLO
A carrot-and-stick approach to motivational
behavior, the reinforcement theory is concerned with positive
and negative reinforcement. It applies consequences to certain behaviors.
There are four basic reinforcement strategies: positive reinforcement,
negative reinforcement, punishment, and extinction. Positive
reinforcement motivates workers by providing them with rewards for
desirable behavior. To be effective a reward must be delivered only if
the desired behavior is displayed. It should also be delivered as quickly
as possible after the desired behavior is exhibited. Negative reinforcement,
in contrast, involves withdrawing negative consequences if the
desired behavior is displayed. This method of reinforcement is sometimes
called “avoidance” because its aim is to have the individual avoid
the negative consequences by performing the desired behavior. Unlike
positive and negative reinforcement, punishment is not designed to in-
spire positive behavior, but to discourage negative behavior. Extinction
is the withdrawal of reinforcing consequences for a desired behavior.
Its intent is to eliminate undesirable behavior.
Needs. Employees have needs. In order to motivate employees, supervisors
should attempt to understand the breadth of their employees’ needs.
Compensation. Compensation is an important part of motivation,
with a goal to compensate employees according to the contribution
each employee makes to the firm.
Rewards. Employees need to know that the goal they are working
toward is achievable and that when they accomplish this goal that they
will be rewarded in an appropriate and timely manner.
Communism was proposed by Karl Marx and developed and implemented
by V. I. Lenin. In Marxist theory, “communism” denotes the final
stage of human historical development in which the people rule
both politically and economically.
The communist philosophy is based on each individual contributing
to the nation’s overall economic success and the country’s resources
are distributed according to each person’s needs. The central
government owns the means of production and everyone works for
state-owned enterprises. Further, the government determines what
people can buy because it dictates what is produced.
Failure Of Communism
First of all, their constitutions had little or
no meaning, so although the government created laws, they bore no
power. Second, the government owned the means of production and
made all of the economic decisions. Therefore, market forces were not
allowed to work, and the laws of supply and demand were not followed.
Third, the citizens of these countries had limited rights and all
the citizens were subject to Communist Party control. Individuals existed
to serve the state and had virtually no freedom for themselves.
Lee Miller, managing director of the Advanced Human Resources Groups, states that body language that suggests doubts include touching the nose, rubbing the ears, running fingers through the hair, or turning away. If something that was said remains unclear or ambiguous to you, be sure to ask for clarification. And, once you think you have understood something, repeat it back in a succinct manner to make sure there are no misunderstandings.
Brainstorming is a useful and popular tool that you can use to develop highly creative solutions to a problem.
It is particularly helpful when you need to break out of stale, established patterns of thinking, so that you can develop new ways of looking at things. This can be when you need to develop new opportunities, where you want to improve the service that you offer, or when existing approaches just aren't giving you the results you want.
Used with your team, it helps you bring the experience of all team members into play during problem solving.
This increases the richness of solutions explored (meaning that you can find better solutions to the problems you face, and make better decisions.) It can also help you get buy in from team members for the solution chosen - after all, they have helped create that solution.
• Brainstorming is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.
• An experienced facilitator should run the brainstorming session.
• One should be careful not to overuse or misuse brainstorming.
– Psychology literature shows that individuals produce a greater number of ideas working alone than they do through brainstorming in small, face-to-face groups.
– Group effects often inhibit idea generation.
To run a group brainstorming session effectively, do the following:
- Define the problem you want solved clearly, and lay out any criteria to be met.
- Keep the session focused on the problem.
- Ensure that no one criticizes or evaluates ideas during the session. Criticism introduces an element of risk for group members when putting forward an idea. This stifles creativity and cripples the free running nature of a good brainstorming session.
- Encourage an enthusiastic, uncritical attitude among members of the group. Try to get everyone to contribute and develop ideas, including the quietest members of the group.
- Let people have fun brainstorming. Encourage them to come up with as many ideas as possible, from solidly practical ones to wildly impractical ones. Welcome creativity.
- Ensure that no train of thought is followed for too long.
- Encourage people to develop other people's ideas, or to use other ideas to create new ones.
- Appoint one person to note down ideas that come out of the session. A good way of doing this is to use a flip chart. This should be studied and evaluated after the session.
Where possible, participants in the brainstorming process should come from as wide a range of disciplines as possible. This brings a broad range of experience to the session and helps to make it more creative.
• The main outputs of quality control are:
– Acceptance decisions
– Rework
– Process adjustments
• Some tools and techniques include:
– Pareto analysis
– Statistical sampling
– Six Sigma
– Quality control charts
Tools and techniques for quality control, include Pareto analysis, statistical sampling, Six Sigma, quality control charts, and testing.
• Pareto analysis involves identifying the vital few contributors that account for the most quality problems in a system.
• Also called the 80-20 rule, meaning that 80 percent of problems are often due to 20 percent of the causes.
• Pareto diagrams are histograms, or column charts representing a frequency distribution, that help identify and prioritize problem areas.
Basic Principles of Cost Management
• Learning curve theory states that when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced.
• Reserves are dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict.
– Contingency reserves allow for future situations that may be partially planned for (sometimes called known unknowns) and are included in the project cost baseline.
– Management reserves allow for future situations that are unpredictable (sometimes called unknown unknowns).
Basic Principles of Cost Management
• Tangible costs or benefits are those costs or benefits that an organization can easily measure in dollars.
• Intangible costs or benefits are costs or benefits that are difficult to measure in monetary terms.
• Direct costs are costs that can be directly related to producing the products and services of the project.
• Indirect costs are costs that are not directly related to the products or services of the project, but are indirectly related to performing the project.
• Sunk cost is money that has been spent in the past; when deciding what projects to invest in or continue, you should not include sunk costs.
THE MODEL FOR STRATEGIC THINKING: PORTER’S FIVE FORCES
In the 1970s, Harvard economist Michael Porter created the gold standard
for how strategy is created and analyzed today. Referred to as
Porter’s Five Forces, this method analyzes the industry and competitive
environment in which a firm operates. When developed correctly,
the framework paints a picture of the current environment in which
the firm competes, allowing the firm to see the big picture and, in turn,
develop long-term strategies for the company that will lead to effective
decision making and sustainability. Porter believes that an industry’s
potential profitability can be expressed as a function of these five forces
and that one can therefore determine the potential success of a firm in
that industry. Porter’s Five Forces provide a model for reviewing the
outside environment portion of the strategy bridge and for determining
the attractiveness of a particular activity at a particular moment in
time. This model can be used on any firm of any size in any location in
any industry and can be utilized regularly to keep a constant eye on
the market, the direction of the market, and the competitors coming
and going within that market.
The essential elements of Porter’s analytical framework are:
1. Barriers to entry.
2. Threats of substitute products or services.
3. Bargaining power of suppliers.
4. Bargaining power of consumers/buyers.
5. Rivalry among competitors.
Barriers to Entry
Barriers to entry refer to forces that deter companies from entering a
particular market.
Barriers to entry are just as important for firms that are
incumbent in an industry as well as to the newcomers because of the
threat of new entrants.
The barriers generally observed by Porter include economies of
scale, product differentiation, capital requirements, cost disadvantage
independent of size, access to distribution channels, and government
policies (regulation).
Economies of Scale.
These refer to the ability of a firm to mass
produce a product and therefore to sell to the customer at a lower
price. A competitor that does not have the luxury or means to mass
produce would thus not be able to compete on price, but rather be
forced to find another way to differentiate itself from the competition
to the consumer.
Product Differentiation.
This is the method or tactics used by a
firm to give its product a more recognized value than the competitors’
products. Brand identity is a powerful tool in creating value and therefore
makes it difficult for a new entrant into the market to gain customer
loyalty.
In addition to brand identity, advertising,
first mover advantage (being first in an industry), and differences
in products also foster loyalty to products and can easily make
entering a market highly expensive.
Capital Requirements.
These refer to the amount of money and
investment necessary to enter a market. Not only does this reference
the product differentiation and brand loyalty mentioned earlier, but
it is also extremely important in an industry in which the infrastructure
to produce the product requires large amounts of financial
resources. Both telecommunications and aviation are examples of
industries that require investment in machinery, technology, and
so on.
Cost Disadvantage Independent of Size.
Some industries
have a high learning curve, whether that is scientific, technological,
or experiential. In other cases, companies in a particular industry
may have access to raw materials, lower prices, advantage based on
history or relationships, favorable locations, or even the benefit of
government subsidies. All of these factors can affect the ability for
an up-and-comer to set up business, get access to capital, and even
be profitable.
Access to Distribution Channels.
Incumbents in an industry
have relationships that may have been functioning profitably for all
parties for years. New entrants to that industry have the challenge of
creating new relationships or even new and creative methods of distribution
just to get their products to market and in front of the consumer.
This may mean using price breaks, innovative marketing,
and creative product differentiation. For a service industry, this may
refer to selling relationships or even a location of the service or
place in society. For example, some law firms build relationships
with clients and partners that are a result of years of networking and
relationships. Business between the organizations goes back generations
and new law firms in the field must be creative in reaching
the clients.
Government Policies (Regulations).
The government has power over industries in the form of licenses, limits on access to raw
materials, taxation, and even environmental regulation and standards.
Threat of Substitute Products or Services
A substitute to a product or service can be any other product or service
that serves a similar function. Too often, firms underestimate
the competitor by not realizing that the product the competitor sells
may be a substitute for its own product or service. Many failed ventures
during the dot-com bubble had the misconceived notion that
“we have no competition,” when, in fact, there are always products
or services that compete for a consumer or customer’s budget. The
key to a substitute is that although it may not be the same product
or service and although the competing products or services don’t
function in the same manner, the competing products meet the same
customer need. For example, sugar prices cannot go too high or
sugar substitutes such as fructose or corn syrup can be used in various
consumable products (beverages, etc.). Other industries also
have indirect substitutes such as preventative care and the pharmaceutical
industry.
Bargaining Power of Suppliers
By controlling the quality or quantity of a product or service a firm
needs to conduct its business, or by affecting the price, a supplier can
have power over the firm and impact its ability to enter or function in a
new market. The ultimate power of a supplier comes down to the characteristics
of the supplier group and the relative importance of sales.
According to Porter, a supplier group is powerful—it can affect a firm
and possess control over the firm—if and when:
. There are fewer suppliers than buyers.
. Its product is unique or differentiated.
. The buyer group is fairly small.
. It has created high switching costs. Switching costs are incurred
when a customer switches from one supplier/product/service to
another. For example, when switching from one deodorant to
another, the consumer may not experience a switching cost.
However, for a company to switch from one office software
provider to another, the costs may involve human resources,
time, training, and so on.
. The supplier can integrate forward or take on the function of
its customers; for example, a tire manufacturer may open its
own retail stores to sell and install its tires.
Bargaining Power of Consumers/Buyers
Just as the supplier has power in the competition and market wars, the
customer has power. Customers can force down prices, demand more
service or better quality, and even pit competitors against one another.
As with most situations, when buyers form groups, they become powerful
and will remain powerful if and when:
✔ They purchase in volume. A prime example is Wal-Mart or Costco. Not only can the customer purchase in volume, but Wal-Mart can purchase in large volume from the supplier, forcing down prices for the end consumer.
✔ The product is undifferentiated and the alternatives for the buyer increase.
✔ The product that they purchase forms a component of the product they produce.
✔ Switching costs are low.
✔ They can purchase up front.
✔ They can integrate backward.
Rivalry among Competitors
All four of the aforementioned parts—barriers to entry, the threat of
substitutes, and the bargaining power of suppliers and buyers—create
rivalry among competitors. Analyzing all of these areas provides a platform
for studying the competition in the firm’s market space.
COMPETITION: DON’T BE JUST LIKE EVERYONE ELSE
The competition may
be direct or indirect, but there is competition. The health club competes
with the television, McDonald’s competes with cooking at home,
and the design company competes with the do-it-yourselfer. The moment
a firm begins to believe that it does not have competition is the
exact moment it becomes vulnerable to competition.
Competitive Advantage and the Basis for Competing
A competitive advantage is creating
through differentiation and differentiation is created through
branding and imaging.
Any time a customer asks for your product by name, you have
achieved differentiation. Although theoretically simple, creating differentiation
through brand and image is not as simple as it sounds.
It is a process of identifying the firm’s strengths, weaknesses, limitations,
hurdles, and faulty assumptions, followed by creating a brand
that is identified by logos, tag lines, color scheme, and all those additional
elements that create a visual or recognizable memory of the
firm. The competitive advantage of a product or service also depends
heavily on variables such as the level of sophistication of the
product, prior experience with that product or service in a certain
country or part of a country, and the types of distribution channels
available.
Costs and Risks
a firm will create a branding strategy that
“pushes the envelope” and increases risk both in time and in money.
However, the brand image that is created is so strong that the customer
immediately responds positively. It is imperative that the
brand or image created be aligned with the firm’s strategic initiatives
and goals.
Creating a Perceived Value
“perceived value.” The customer
has no idea that the cheese comes from the same plant, has the
same ingredients, and is probably even packaged at the same location.
It is even possible that the same truck delivered both cheeses to the
grocery store. The value is not in the cheese, but in the trust that the
customer places in a company with which he/she can identify.
Porter’s competitive strategies
•Overall cost leadership: Firm
aims to become the lowest-cost producer in the industry. The strategy here is
that, by reducing costs, one is more likely to retain customers and reduce the
threat posed by substitute products. An example of how this might be achieved is
to invest in systems that support accurate sales forecasting and therefore
projected materials requirements so that good, long-term deals can be struck
with suppliers, thus reducing materials costs.
•Differentiation: Creates a product perceived industry-wide as being
unique. By being able to tailor products to specific customers’requirements or
by offering an exceptional quality of service, the risk of customers’switching
is reduced.
•Focus on niche: This involves identifying and serving a target segment
very well (e.g. buyer group, product range, geographic market). The firm seeks
to achieve either or both of ‘cost leadership’and ‘differentiation’.
There is also a possible undesirable
outcome:
•‘Stuck in the middle’:The firm is unable to adopt any of the above
approaches and, therefore, is ultimately at the mercy of competitors that are
able to offer these approaches.
SMART is a mnemonic, giving criteria
to guide in the setting of objectives, for example in project management,
employee performance management and personal development. The letters broadly
conform to the words specific, measurable, achievable, realistic and time-bound.
The first known use of the term occurs in the November 1981 issue of Management
Review by George T. Doran
Specific – states exactly what you need to achieve
M
easurable – includes a quality or quantity measureA
greed – between you and your ReviewerR
ealistic – can be challenging but must be achievableT
imebound – with a clear end date or timescale
Specific
--What exactly are we going to do for whom?The “specific” part of an objective tells us what will change for whom in concrete terms.
It identifies the population or setting, and specific actions that will result. In some cases
it is appropriate to indicate
how the change will be implemented (e.g., through training).Coordinate, partner, support, facilitate, and enhance are not good verbs to use in
objectives because they are vague and difficult to measure. On the other hand, verbs
such as provide, train, publish, increase, decrease, schedule, or purchase indicate
clearly what will be done.
Measurable
--Is it quantifiable and can WE measure it?Measurable implies the ability to count or otherwise quantify an activity or its results. It
also means that the source of and mechanism for collecting measurement data are
identified, and that collection of these data is feasible for your program or partners.
Attainable/Achievable
--Can we get it done in the proposed time frame with theresources and support we have available?
The objective must be feasible with the available resources, appropriately limited in
scope, and within the program’s control and influence.
Sometimes, specifying an expected level of change can be tricky. To help identify a
target, talk with an epidemiologist, look at historical trends, read reports or articles
published in the scientific or other literature, look at national expectations for change,
and look at programs with similar objectives. Consult with partners or stakeholders
about their experiences. Often, talking to others who have implemented similar
programs or interventions can provide you with information about expected change.
In some situations, it is more important to consider the percentage of change as a
number of people when discussing impact. Will the effort required to create the amount
of change be a good use of your limited resources?
Relevant
--Will this objective have an effect on the desired goal or strategy?Relevant relates to the relationship between the objective and the overall goals of the
program or purpose of the intervention. Evidence of relevancy can come from a
literature review, best practices, or your theory of change.
Time bound
--When will this objective be accomplished?A specified and reasonable time frame should be incorporated into the objective
statement. This should take into consideration the environment in which the change
must be achieved, the scope of the change expected, and how it fits into the overall
work plan. It could be indicated as “By December 2010, the program will” or “Within 6
months of receiving the grant,...”
An indicator is what you will measure to obtain observable evidence of
accomplishments, changes made, or progress achieved. Indicators describe the type of
data you will need to answer your evaluation questions.
Typically accepted criteria are as follows.
Letter |
Most common |
Alternative |
S |
Specific |
Significant, stretching, simple, sustainable |
M |
Measurable |
Motivational, manageable, meaningful |
A |
Attainable |
Appropriate, achievable, agreed, assignable, actionable, action-oriented, adjustable, ambitious, aligned with corporate goals, aspirational, acceptable |
R |
Relevant |
Result-based, results-oriented, resourced, resonant, realistic,reasonable |
T |
Time-bound |
Time-oriented, time-framed, timed, time-based, timeboxed, time-specific, timetabled, time limited, time/cost limited, trackable, tangible, timely, time-sensitive |
E |
Evaluate |
Evaluated, evaluate consistently,ethical, excitable, enjoyable, engaging, ecological, evidenced |
R |
Reevaluate |
Reviewed, rewarded, reassess, revisit, recordable, rewarding, reaching, recognise mastery |
Table from Wikipedia the free encyclopedia
school of thought - a belief (or system of beliefs)
accepted as authoritative by some group or school
doctrine, ism, philosophical system, philosophy
nuclear deterrence - the military doctrine that an enemy will be deterred from
using nuclear weapons as long as he can be destroyed as a consequence; "when two
nations both resort to nuclear deterrence the consequence could be mutual
destruction"
belief - any cognitive content held as true
Cabalism, Kabbalism - the doctrines of the Kabbalah
abolitionism - the doctrine that calls for the abolition of slavery
absolutism - the doctrine of an absolute being
amoralism - the doctrine that moral distinctions are invalid
animalism - the doctrine that human beings are purely animal in nature and
lacking a spiritual nature
animism - the doctrine that all natural objects and the universe itself have
souls; "animism is common among primitive peoples"
antiestablishmentarianism, antiestablishmentism - the doctrine of opposition to
the social and political establishment
asceticism - the doctrine that through renunciation of worldly pleasures it is
possible to achieve a high spiritual or intellectual state
contextualism - any doctrine emphasizing the importance of the context in
solving problems or establishing the meaning of terms
creationism - the literal belief in the account of Creation given in the Book of
Genesis; "creationism denies the theory of evolution of species"
credo, creed - any system of principles or beliefs
divine right, divine right of kings - the doctrine that kings derive their right
to rule directly from God and are not accountable to their subjects; rebellion
is the worst of political crimes; "the doctrine of the divine right of kings was
enunciated by the Stuarts in Britain in the 16th century"
dogma - a doctrine or code of beliefs accepted as authoritative; "he believed all the Marxist dogma"
dualism - the doctrine that reality consists of two basic opposing elements,
often taken to be mind and matter (or mind and body), or good and evil
dynamism - any of the various theories or doctrines or philosophical systems
that attempt to explain the phenomena of the universe in terms of some immanent
force or energy
epicureanism - a doctrine of hedonism that was defended by several ancient Greek
philosophers
establishmentarianism, establishmentism - the doctrine of supporting the social
or political establishment
ethicism - a doctrine that ethics and ethical ideas are valid and important;
"his ethicism often led him to moralize"
expansionism - the doctrine of expanding the territory or the economic influence
of a country
formalism - the doctrine that formal structure rather than content is what
should be represented
functionalism - any doctrine that stresses utility or purpose
Girondism - the doctrine of the Girondists
gospel - a doctrine that is believed to be of great importance; "Newton's
writings were gospel for those who followed"
gymnosophy - the doctrine of a sect of Hindu philosophers who practiced nudity
and asceticism and meditation
imitation - the doctrine that representations of nature or human behavior should
be accurate imitations
laissez faire, individualism - the doctrine that government should not interfere
in commercial affairs
internationalism - the doctrine that nations should cooperate because their
common interests are more important than their differences
unilateralism - the doctrine that nations should conduct their foreign affairs
individualistically without the advice or involvement of other nations
irredentism, irridentism - the doctrine that irredenta should be controlled by
the country to which they are ethnically or historically related
literalism - the doctrine of realistic (literal) portrayal in art or literature
majority rule, democracy - the doctrine that the numerical majority of an
organized group can make decisions binding on the whole group
monism - the doctrine that reality consists of a single basic substance or
element
multiculturalism - the doctrine that several different cultures (rather than one
national culture) can coexist peacefully and equitably in a single country
nationalism - the doctrine that your national culture and interests are superior
to any other
nationalism - the doctrine that nations should act independently (rather than
collectively) to attain their goals
nihilism - a revolutionary doctrine that advocates destruction of the social
system for its own sake
A comprehensive world view (or worldview) is the fundamental cognitive orientation of an individual or society encompassing the entirety of the individual or society's knowledge and point-of-view, including natural philosophy; fundamental, existential, and normative postulates; or themes, values, emotions, and ethics. The term is a calque of the German word Weltanschauung ( listen), composed of Welt ('world') and Anschauung ('view' or 'outlook'). It is a concept fundamental to German philosophy and epistemology and refers to a wide world perception. Additionally, it refers to the framework of ideas and beliefs forming a global description through which an individual, group or culture watches and interprets the world and interacts with it.
In decision theory and general systems theory, a mindset
is a set of assumptions, methods, or notations held by one or more people or
groups of people that is so established that it creates a powerful incentive
within these people or groups to continue to adopt or accept prior behaviors,
choices, or tools[citation needed]. This phenomenon is also sometimes described
as mental inertia, "groupthink", or a "paradigm", and it is often difficult to
counteract its effects upon analysis and decision making processes.
A mindset can also be seen as incident of a person's Weltanschauung or
philosophy of life. For example there has been quite some interest in the
typical mindset of an entrepreneur.
In science and epistemology (the theory of knowledge), paradigm describes distinct concepts or thought patterns
Rationalism
This school of thought takes on various philosophical positions that rely on the
function of reason when searching for truth. It can be contrasted with
empiricism, which believes that experience is necessary to acquire knowledge.
For rationalists, ideas are innate. For empiricists, ideas are acquired.
Concepts of rationalism can be traced back to early Greece where Plato believed
reason was something internal, one of the four faculties of the soul.
Rene Descartes
To learn more about Descartes go to:
http://www3.niu.edu/acad/psych/Millis/history/2002/descartes.htm
1596-1650
Descartes has been a major influence on philosophical psychology in several
ways. He was known for focusing on the self and its cognitive powers. Often, he
was found stating "cogito, ergo sum” or “I think, therefore I am”. Next he
focused on his theory that the mind and body are separate substances, stating
that thoughts and emotion are to be studied apart from the bodily mechanisms. He
felt each perform their own tasks. Finally, Descartes paved the way for the
psycho physiological approach we know today by accepting that mind acts on body
as well as body on mind. Descartes would emphasize on the individual thinker,
unlike Plato and Aristotle. Instead of wondering what men as a whole knew, he
wondered what a particular man may know. As a rationalist, he defined knowledge
as judgments or statements that can be said to be certain, and denied that
sensory experience can lead to knowledge.
Structuralism
This school of thought was based on the notion that the object of psychology is
to analyze consciousness into its basic elements and investigate how these
elements are related. Structuralism explores many aspects of the mind, though
research is mainly concerned with sensation and perception in vision, hearing
and touch. Through the method of introspection, or the systematic observation of
one's own conscious experience, subjects were trained and the exposed to
different visual stimuli, optical illusions and auditory tones. They were then
asked to analyze what they experienced. During the first two or three decades of
psychology, structural psychology was the psychology. It provided psychology
with a strong scientific identity within the academic community. .Structuralism
was the dominant school of psychology in Germany and the U.S. between 1890-1920,
and was led by Wundt and Titchener.
Edward Bradford Titchener
1867-1927
Titchener studied under Wundt in Leipzig then took his teachings to America. In
1895 he became a professor of psychology at Cornell University. He had great
admiration for Wundt's work, but brought his own version of Wundt's psychology
to America. Titchener liked to emphasize the use of introspection to uncover the
elements of experience, such as sensations, images, and feelings. He also
developed experimental techniques that were more fully accepted than his
atomistic approach.
Wilhelm Wundt
To learn more about Wundt go to:
http://www3.niu.edu/acad/psych/Millis/wundtslab.htm
1832-1920
Wundt became the founder of experimental psychology* when he established the
first official psychological laboratory in Leipzig, in which introspective and
psychophysical methods were applied to a wide range of subjects. Wundt felt that
psychology should be a science modeled after fields such as physics and
chemistry. What would be the subject matter of this new science? Well,
consciousness, of course, or the awareness of immediate experience. In 1881,
Wundt established the first journal devoted to publishing research on
psychology. Wundt is known for thinking that there are three main tasks of
psychology; one, to analyze the conscious processes into basic elements; two, to
discover how these elements become connected; finally to determine the laws of
connection.
*Experimental psychology is the scientific study of behavior, motives or
cognition in a laboratory setting in order to predict, explain or control
behavior.
Functionalism
According to functionalism the subject matter of psychology is mental processes
or in other words, “functions”. Functionalism was a protest against
structuralism. Structuralism was the study of the contents of consciousness.
Functionalism was utilitarian and concerned with commonsense issues.
Structuralists said that mental functions were not subject to introspective
analysis, it was the make up of the mind that could be analyzed. Functionalists
disagreed, saying they could study mental function if correct methods were used.
There were many men responsible for the development of functionalism. Here are
just a few important contributors.
John Dewey
1859-1952
John Dewey is the main person credited as the founder of functionalism. He was
both a psychologist and philosopher. He was chair of philosophy at the
University of Chicago. He was also a pragmatist. He was the first functionalist
to apply functionalism to social problems and education. He was responsible for,
“The Reflex Arc Concept in Psychology,” ~ 1896. This explained the processes of
natural continuous flow. First there is a sensory perception then a process
fallows and then that is preceded by a response.
(S)ensory -> process -> (R)esponse
For example, a flame is the sensor and then reach is a response. After that
burning is a sensor and moving away is another response.
James Rowland Angell
1869-1949
James Angell was a student under John Dewey. He never got his Ph.D. but did
manage to get two M.A.s. He was interested in what the mind was doing. He was
interested in how mental functions of the mind help for survival. He thought the
body and the mind worked together to survive.
Harvey Carr
1873-1954
Harvey Carr studied under James Angell. His main focus was on learning. He
thought learning happened when needs for survival were accomplished . He
demonstrated this through something called the, “adaptive act”. There are three
interrelated parts. First, there was a motivating stimulus, which would stick
around until there was an act to satisfy it. Second, a sensory stimulus, which
was the goal. Lastly there was an activity which lasted until the motivating
stimulus was satisfied. The adaptive act was a function of the situation as a
whole. It is like saying there would be different reactions to seeing a grizzly
bear in a zoo compared to the wild.
Mary Calkins
To learn more about women in Psychology go to:
http://www3.niu.edu/acad/psych/Millis/history/2003/womeninpsych.htm
Mary Calkins was one of the few females involved with Psychology. She attended
seminars even though she was discriminated against. She invented the
paired-associate technique. She was also interested in short-term memory.
Another area she pursued was Self-Psychology, which then led her into
personality theory.
Behaviorism
According to behaviorism the subject matter of psychology is behavior including
how and why is happens. Psychology through a behaviorists eye is an experimental
extension of natural science. The goal of behaviorism is the prediction and
control of behavior. The behaviorist uses animals responses and compares them to
man. The behavior of man is only part of the total investigation of behaviorism.
There are also many individuals responsible for the development a behaviorism.
Here are just a few important contributors.
Pavlov and Watson
These psychologists studied behaviorism experimentally.
Darwin
To learn more about Darwin go to:
http://www3.niu.edu/acad/psych/Millis/history/2002/darwin.htm
1809-1882
Darwin studied animals and behavior. He was interested in how they adapted to
the environment. He wanted to know the sorts of behaviors that survived and the
kinds that did not survive. His studies in animals can be related to humans and
their survival behaviors.
Freud
To learn more about Freud go to:
http://www3.niu.edu/acad/psych/Millis/freud.htm
1856-1939
Freud looked at the individual and the outcomes of their behaviors. He was
interested in behavior that could be predicted.
B.F. Skinner
1904-1990
Skinner thought all animal and human behavior was linked to rewards or
reinforcers. He came up with the S-R-C (Stimulus- Response- Consequence) model.
He thought all behavior was guided by consequences. He thought behavior was
objective and could be chosen by the individual. He also thought rewarding
someone when they acted in a favorable manner that was close to the desired act
could shape behavior. A way to achieve this is through positive reinforcers and
punishment. A positive reinforcer would be telling someone thank you or perhaps
a hug or kiss when a child does a desirable behavior. Punishment would be given
when a child misbehaves. The negative reinforcer maybe cleaning their room or
doing the dishes.
Psychoanalysis
This school of psychology was rejected by many as a true science. It was thought
of as a kind of technique in psychotherapy. It is a general psychology of human
behavior. There are six assumptions that show the main ideas of psychoanalytic
theory. One is that unconscious mental processes exist. The second is all human
behavior is motivated and purposeful. Third, past experiences influence current
changes and reactions. Forth, personality functioning is very complex and can be
understood through the Id, Ego, and Superego. Fifth, thinking processes involve
energy, strength and force. Finally human behavior is influenced by interaction
with the environment.
One of the main people involved with the development of psychoanalysis was
Sigmund Freud.
Freud
To learn more about dreams go to:
http://www3.niu.edu/acad/psych/Millis/history/2002/dreams.htm
1856-1939
Freud discovered that a lot of the thoughts and feelings that influenced
personality were operating in the unconscious. He started recording his dreams
at a very young age. He even did psychoanalysis on himself at one point in his
life. He discovered the talking treatment, after meeting a troubled young woman
named Ana. She traced back her problems to childhood abuse, as did many of his
patients. This is where he came up with a lot of his ideas about sexuality and
the Oedipus complex.
KJV Acts 19: 9 But when divers were hardened, and
believed not, but spake evil of that way
before the multitude, he departed from them, and separated the disciples,
disputing
daily in the school of one Tyrannus.
KJV Proverbs 24:9 The thought of foolishness is sin: and the scorner is an abomination to men.
KJV Proverbs 30:32 If thou hast done foolishly in lifting up
thyself, or if thou hast thought evil, lay
thine hand upon thy mouth.
KJV Psalm 139:1 {To the chief Musician, A Psalm of David.} O LORD, thou hast searched me, and known me.
2 Thou knowest my downsitting and mine uprising, thou understandest my thought afar off.
KJV Matthew 6: 24-34
24 No man can serve two masters: for either he will hate
the one, and love the
other; or else he will hold to the one, and despise the other. Ye cannot serve
God
and mammon.
25 Therefore I say unto you, Take no thought for your life, what ye shall eat,
or
what ye shall drink; nor yet for your body, what ye shall put on. Is not the
life more
than meat, and the body than raiment?
26 Behold the fowls of the air: for they sow not, neither do they reap, nor
gather
into barns; yet your heavenly Father feedeth them. Are ye not much better than
they?
27 Which of you by taking thought can add one cubit unto his stature?
28 And why take ye thought for raiment? Consider the lilies of the field, how
they
grow; they toil not, neither do they spin:
29 And yet I say unto you, That even Solomon in all his glory was not arrayed
like
one of these.
30 Wherefore, if God so clothe the grass of the field, which to day is, and to
morrow is cast into the oven, shall he not much more clothe you, O ye of little
faith?
31 Therefore take no thought, saying, What shall we eat? or, What shall we
drink? or, Wherewithal shall we be clothed?
32 (For after all these things do the Gentiles seek:) for your heavenly Father
knoweth that ye have need of all these things.
33 But seek ye first the kingdom of God, and his righteousness; and all these
things shall be added unto you.
34 Take therefore no thought for the morrow: for the morrow shall take thought
for
the things of itself. Sufficient unto the day is the evil thereof.
KJV Mark 14:72 And the second time the cock crew. And
Peter called to mind the word that
Jesus said unto him, Before the cock crow twice, thou shalt deny me thrice. And
when he thought thereon, he wept.