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. ... Free Database ... Aviation
Below you can an extract from a sample research paper on aviation developed by our writers. With the project you can find the requirements provided by the customer. 

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... Free Sample on Aviation

Topic: Theory and Practical Worldwide Related to Aviation


Research Area: Theory and practical worldwide related to aviation. Objectives: As per the previous attachment of the assessment requirements. However, we have to relate “Inkpen prophecy to my organization “Gulf Air”. Allowed Sources: Any related articles written or published after 1996.



General Discussion.

Over the past few decades, the global marketplace has undergone dramatic changes in a number of directions. Among other observed factors, shifts in consumer demand patterns and underlying preferences, intensifying rivalry within as well as across markets and industries, and the advent of new elements of technology as well as infrastructure have all acted to undermine the expected margins and market shares and made these highly volatile and uncertain in the long-run even for some of the better-established global giants. The increased volatility and vulnerability faced by the agents on the marketplace they had believed they know well has added or underscored a number of critical dimensions of the problem-solving space which seemed to be either missing or less than relevant some two decades ago. 

The absence of these variables in the past might be viewed as some of the artificial sources contributing to the companies competitive edge. This fact could best be illustrated by considering the changing status of the so-called not-for-profit entities such as schools and public libraries that have until recently been perceived as totally isolated from the competitive environment. One reason why such an opinion has persisted may have to do with the conventional perception of the diverse market agents incentives. Thus, the classic household is in the business of maximizing its income or indeed utility. Any commercial entity or private individual may have as their objective the maximization of profit (or, symmetrically, the minimization of expected losses as a component of crisis management). Likewise, the corporation engages in a principal-agent type scheme whereby it acts as an agent acting on behalf of its shareholders interests by maximizing their wealth. Although not exactly pertaining to selfish incentives, similar mechanisms of decision making can be ascribed to unions lobbying for high wages for their members. Again, while the narrow profit maximization incentive may not appear entirely applicable, its agency generalization that we have just proposed seems to capture a far broader category of agents, organizations, and institutions characterized by a set of objectives, resources, and operations. 

Increasingly, then, public libraries and schools have come to face much the same variables of the decision making space. They now have treat their users or enrollees as customers, which implies their decision making undergoes a major dilution by shifting away from its technological substance and becoming more of a marketing, public relations, and competitive mix. However, as we have pointed out, these recent trends that have expanded the frontier or 'jurisdiction' of competitive behavior and incentives, only really became pronounced with the qualitative shift in the environment's volatility. 

In this light, it is no wonder that the increasing army of market agents that have had to confront an intensifying competition have also had to respond to it by seeking alternatives to the old competitive edges and niches that no longer seem to secure sufficient margins and efficiency scales. Relevant knowledge that shows the potential for contributing to the business's sustainable competitive advantage has come to be perceived as the single most valuable earning asset that can be invested in and managed, if the company is to stay afloat let alone grow. That should lend relevance to Inkpen's suggestion that many a well-renowned giant may yet observe its advantage melt and evaporate, because knowledge acquisition is becoming the prerequisite for survival, rather than a luxury for the few brave and daring enough to seek a diversified portfolio of opportunities. 

However, unlike many other resources and assets a company has to manage, knowledge remains a rather peculiar type in many respects. For one thing, while most resources are scarce and rivaled (the latter meaning that the alternative users of this resource face a zero-sum or constant-sum game), knowledge may be replicated at low incremental costs. Indeed, any information could be shared and duplicated indefinitely. However, knowledge does have its own scarcity and cost., which are most intimately intertwined. Its scarcity should properly be measured as the relatively high pace of decay, whereby older knowledge must quickly be replaced with more up-to-date knowledge. That in a sense pertains to the very essence of R&D, as many companies, whether in the tech sector or otherwise, nowadays face a high operating leverage in terms of high and growing proportion of fixed costs, R&D included, in its cost structure in order to stay competitive, or more specifically as a prerequisite for (and barrier to) market entry as well as staying in business. However, this crystallized role of knowledge is perhaps too apparent and covering too narrow a domain of what can constitute knowledge, for us to be entirely contented with this finding. In fact, we will argue later on, that technology and IT in particular, though highly desirable, may not yield a contribution to the firm's competitive edge and the latter's stability comparable to the effect that the relatively less costly adoption of knowledge can assure. 

On the one hand, while closely similar, the information aspect versus that of knowledge should be viewed as quite distinct constituents of the firm's stability and efficiency within the problem-solving environment. Thus, incomplete information pertains to uncertainty or indeed the riskiness of decision making. But it may have little to say about the company's ability to manage its resources-in other words, about its knowledge frontier. 

To get back to the issue of the cost of transferring, replicating or sharing knowledge, while the immediate or explicit (short-run) costs may be low to nil, this is not the right way of measuring the true cost. The ultimate cost, in our opinion should be identified as the opportunity cost, for firm A sharing its knowledge with firm B. If they are strategic partners over a long haul, that knowledge sharing should be though of as favorable and possibly synergistic, and the cost would need to be viewed in terms of the opportunity cost of failure to do so. That instance pertains to the agents being strategic complements with positive synergy. Otherwise, for rivals who are strategic substitutes, the opportunity cost is clearly negative indicating that the choice should be avoided (see Bulow 1985 for details). 

Quite another thing is whether this choice can be avoided at all, or whether there need to be any choice triggering the transfer or sharing of knowledge in the first place. We therefore have chosen to resort to the notion of the so-called choice externalities, which topic has gained crucial importance in the modern economics and management literature, more so in regard to the pathbreaking work done in the areas of new institutional economics and information economics stressing various types of transaction costs as the primary cause of failure to internalize externalities, including ill-defined property rights, poor delegation and monitoring of responsibilities, and defecting on contractual forms and initiatives. (Interestingly, some of this literature stresses the transaction costs as the primary reason why firms evolve in the first place as a form of interaction among agents and a major alternative to using markets). 


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