Water polo

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Water Polo

So many days I have spent doing something that my future doesn't hold in store for me, such as soccer, basketball, and baseball, just to name a few. All that time I always knew that I was an athlete. There was so much talent that my little body possessed, but I just couldn't come up with the right way to use it. While I always had fun playing those sports, there was always something missing. I loved the camaraderie, the leadership, the team bonding, and I even loved the discipline, I just never had the love for the sport. I never had the desire to go into my backyard by myself and practice to the point of keeling over. My father always told me that if I wanted to go anywhere in sports, that is what I ha to do. I tried to take his advice but I would end up being outside for ten minutes and get bored. I started to give up, maybe sports are just something that would act as a high school activity and that would be the end of it. Luckily for me, that whole idea ended because of my sophomore swim class.

I had always hated swimming. I hated to get into the water and swim laps. My entire body would be sore and I felt like I was getting nowhere. There was no ball for me to play with, and no goal for me to reach. It always seemed completely and utterly pointless. That is one of the reasons that I wasn't excited at all about swim class. Sure my friends were there with me, but if I wanted to get a good grade I couldn't goof around. So the first day we did laps, this is great I thought the same old boring stuff. The second day we did laps again. I was bored out of my mind; it was just another thing that I was doing that I won't in my future. Finally we started to do more things. We started to play some games such as water volleyball and under water hockey. I finally started to have fun, but the real fun didn't start until the first day that we played water polo.

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I remember thinking to myself that it was going to be another boring thing. You can't move fast in the water, and you can't stand when you are throwing the ball making it harder to throw faster. We practiced some techniques such as dribbling and shooting. That is when I realized that there was actually something to the game, it definitely wasn't easy. In order to dribble I had to keep the ball in front of me and swim free style causing splashes to push the ball forward. I was only allowed to ever touch the ball with one hand at a time. The ball was wet and slippery making the technique very difficult to grasp onto. When shooting, I couldn't touch the ground with my feet which made it more difficult to aim and throw hard. The more we learned, the more difficult it was.

I was having so much fun in my water polo class that I began to regain some hope. I thought maybe there is actually something that I can use my athletic ability on. I couldn't wait to learn more about the sport.

I went straight home and decided to do some research. I couldn't believe all the different associations that I found. There were so many names that I couldn't keep track. There were even some places that I could join to enhance my skill level. There is the USA Water Polo INC, the Collegiate Water Polo Association, the Australian Water Polo INC, the National Water Polo League, the New Zealand Water Polo Association, and many more.

I also learned that water sports first became a very popular thing in England. Many people loved to spend their days at the pool doing something that wasn't competitive but more recreational. Gradually various versions of land sports started to be played in the water. There was water football (or soccer), water rugby, water handball, and water polo. Water polo in this case however was when men would ride on wooden barrels and strike a pall with a stick, much like the game of horse polo.

Out of all of sports, under water rugby became the most popular. In this version of rugby, the object was for a player to have both hands on the ball and touch it to a post on the other side of the pool. This game was actually very violent and many men got injured. The game was full of contact, and as the game progressed fights began to occur away from the ball, and as the game is in the water many men passed out due to lack of oxygen. This game for some reason had a link with water polo and as a result it back then was called water polo.

In 1877 the Scottish took the game and made a more modernized version. They introduced the idea of having goals instead of just posts and the prohibited the idea of tackling. This turned the game into a much less contact and safer sport. The Scottish version helped to give emphasis to the idea of team work. Many concepts had to be introduced and practiced to perfection. Such concepts include passing, shooting, and swimming speed.

The first American water polo team wasn't created until about 1888. The team was started in Boston but soon the sport spread to various swim clubs and in some places around New York. The American water polo game was very different than the Scottish. They played in small indoor pools and as a result passing wasn't emphasized and the game started to take on a form very similar to that of American football. The American game became almost even rougher than the original English version had been.

Different versions of water polo started to spread around America. There was even a type of softball water polo. However this version wasn't as popular as the original version and it was soon dropped.

When water polo reached a certain popularity goal, the AAU took over creating tournaments all over America. This idea seemed great at the time but then that year in the national championship tournament, the semi-final game between the New York Athletic Club and the Chicago Athletic Association resulted in a major fight and because of it, the AAU dropped water polo all together.

In 114 water polo teams all around America and the AAU decided to come up with national rules for the game. This gave them a greater advantage to have the game be a national competitive sport and also a chance for more tournaments to be produced. After this the AAU decided to start conducting national championships once again. However some groups kept on playing the unaccepted softball version.

A man named James R. Smith helped to create a different type of ball then the leather soccer ball that they were originally using. He created a new ball that had a cotton covering of rubber fabric to keep the ball from becoming heavier from absorbing too much water. The new ball also helped to keep the ball less slippery as it allowed for more grip in the course of the game.

The new ball helped to create a higher scoring game and also a faster game; as a result of this the new ball was adopted all around the world. It was even accepted into the 156 Olympics as the official ball.

In 177 the AAU was replaced with another group called the U.S. Water Polo, Inc.

Women were not as accepted into the game of water polo. They started to play it early in the 10s, however the sport was considered to be too rough for women as the proper sport we have now was not yet created. People thought that women would not be able to handle the contact and that it would result in more sustaining injuries. Because of the level of roughness water polo for women was dropped by colleges and clubs. However the AAU began conducting women's national championships in 161.

Women's water polo quickly spread mostly into California and Florida. In fact, most of the top teams since the early 170s have come from those states.

Since 186 there has been a women's championship held by the Federation Internationale de natation amateur (FINA) as part of the World Aquatic Games.

There were also a lot more rules of the game that I wasn't familiar with yet. I learned that the game had to be played in a pool that is at least 5 feet, 11 inches deep. This is because it makes it much harder for the players to be able to stand up. The whole idea creates a much more difficult game creating the need to be very physically fit. The goal is supposed to be feet, 10 inches high and at least feet above the water. The goal looks almost exactly the same as a soccer or hockey goal would look like. There are two bars going vertically from the ground and one bar connected to them horizontally.

For the men and women there are different regulations for the sizes of the pool. The men's pool is 8 feet long and 65 feet wide. The women's pool is 8 feet long and 56 feet wide. The women's pool is smaller because it is thought that it makes it easier for women. In my opinion women don't need the smaller pool because of physical fitness. A professional woman athlete would definitely be able to play in a men's pool or even just a fit woman athlete. However because women aren't as strong as men, it makes for a higher scoring, faster, and more exciting game.

Games are divided into four quarters. Usually they range within 5 to 8 minutes in length depending upon what level of play the game is played at. If there is a tie there may be two periods of overtime with a length of minutes each. If the game is still tied after the two periods the game will keep going into overtime until there is a final goal scored making the decision.

There are seven players on each team including the goalie. The teams are differentiated by the color of the caps that are worn on their heads. This is the same idea of having color uniforms in land sports just as basketball, soccer, and rugby. However because of agility and speed purposes, body uniforms are not good in the water and capes seemed like the better solution. The goalie wears a red cap so that they aren't mistaken for regular players. Usually the cap also has a number 1 on it in either white or blue.

The game starts with the ball being put in the middle of the pool. When the whistle is blown both teams race to the center or 'sprint' to the center to gain possession of the ball.

There are different types of ways to progress with the ball. One may either dribble or pass the ball. When a player is trying to dribble they are to swim forward with the ball in front of them, creating waves that move the ball forward. They are never to touch the ball with two hands or the whistle will blow and the other team will gain possession. This is true for every player except for the goalie who can hold it with two hands. When players are on defense they can't interfere with a players movements unless the player is still and holding the ball.

When passing the ball, again you may not hold the ball with two hands and you may not pass while you are standing on the floor. This further enhances the fitness level, needing your upper body to be stronger in order to create harder, sharper passes to other teammates.

If a player fails to follow the rules, depending upon how bad the offense was, action will be taken by the referees. For small fouls such as touching the ball with two hands, or throwing the ball while standing in place the whistle will be blown and the other team will get a free pass to a teammate to advance them forward. The person taking the free throw may either pass or dribble forward; however at least two players must touch the ball after a free throw if a goal is to be scored.

For an major fouls occur such as contact fouls, and bad sportsmanlike fouls a person can be penalized by having one minute in the penalty box, and just like in basketball a player is removed from the game after committing five personal fouls. If a foul occurs near the goal that prevented scoring a penalty shot can be taken from the 4-meter line.

Of course even with all these rules there are still ways to be disrespectful, because of this they have a code of conduct. Each individual and team must abide by this code or the team or person can be penalized. One rule is that unless there is warm up space provided teams should not enter the deck area until after the game is finished. Another rule is that athletes are not allowed to change on the deck, they must use the changing rooms, and they can't bring any of their equipment out onto the deck, it must stay in the changing room or next to the team bench. Players have to present themselves in a respectful manner which is why all use of profanity is prohibited in the facility. The teams must all have warm up suits, if the team is on deck no street clothes can be worn and all teams must wear caps during warm ups to show what team they are on and also for hygiene reasons. And another very important rule of conduct is that all players must not criticize the officials publicly before, during, or after the game.

This code does not only apply to the players but the coaches also have their special code. Coaches also must not use profanity in the facilities and also should not criticize the referees. Coaches should hold discussions with the officials after a game and should be in a private area where no spectators, players, and administrators can be involved. Coaches also have a dress code on deck. They must wear a collared shirt with nice shoes or sandals and nice pants or shorts. No jeans and t-shirts should be worn. Also out of respect for the hosts of games and tournaments they are to write a letter of appreciation to the host's athletic director.

I learned so much through my research online. The game is one which you need to be there physically as well as mentally. It is like all other sports a game where hard work and determination is needed as well as a high fitness and athletic ability. Even though the sport is not as well known through out the world it is constantly growing and becoming more popular with not only adults and college students but also with young children. With the rapid growth of the sport it is expected to become more popular, with more television time and news paper reports. Hopefully by the time that I am a professional the sport will have raised to a very respectable level where the rules and regulations as well as the emotions are known all through out the world.

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Why

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How Are Outsiders Central to 'To Kill A Mockingbird' and 'Silas Marner'?

This essay is a comparison of two novels written in different eras, which have similar themes. In my essay I will compare the outsiders in each novel, as they are central figures. An outsider is people that differ from the normal. To Kill A Mockingbird has three outsiders, but only two of them are real outsiders, them being Tom Robinson and Boo Radley. Atticus Finch is the other outsider. However in Silas Marner there is only one main outsider and that being Silas Marner himself. The other outsider in Silas Marner is Eppie, the adopted daughter of Silas Marner. The author of To Kill A Mockingbird Harper Lee presents many ideas about why the three characters are outsiders. His main ideas are racism and prejudice as a whole. In the novel Silas Marner George Elliot represents ideas of different classes, for example rich versus poor. Both novels also represent the idea of people prejudging the outsiders without getting to know them. They don't treat the outsiders right from the first time they meet them simply because they are different.

Appearance is a focal point in both novels. The appearance of Tom Robinson is the main reason for him being an outsider. The novel is set in the early 100's and at that time most of Southern America was racially segregated, especially the southern states where this book is set. He is forced to live out of the local community along with the other coloured folks in the town. He also has a disability. That being that his left arm is several inches shorter than his right and this is very visual.

'His left arm was fully 1 inches shorter than his right, and hung dead on his side. It ended in a small shrivelled hand, and from as far away as the balcony I could see that it was of no use to him.' This quotation simply means that Tom has a disability and as we learn later on in the novel, this would make the accusation about him even harder to believe.

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With him having a disability he is similar to Silas Marner as he too has a disability. He suffers from epileptic fits. He is also similar to Boo with his physical appearance. Both men are hunched and pale in skin colour. Also Silas Marner is described as having dead mans eyes.

'Silas Marners pale face really saw nothing very distinctly that was not close to them, and not rather their dreadful stare.' A quote, which makes out that Silas isn't something nice to look at. As both men had disabilities and were both outsiders having these disabilities didn't help. But in Tom's case his problem didn't make him more of an outsider. However with Silas suffering from fits he became more of an outsider as his disability was a mental disability unlike Tom's.

'Boo was about six and a half feet tall, judging from his tracks he dined on raw squirrels and any cats he could catch.' Thus description is take from the novel and it basically describes his as obese in size and strange in his ways. This appearance made Boo appealing to the children in the novel To Kill A Mockingbird as he was strange to look at and this gave him an aura about him.

In the two novels there are wrongful accusations. Tom and Silas were the victims of this. Tom Robinson is firstly accused of raping Mayella Ewell. He is taken to court because of this and is charge of being guilty. This wasn't such a shock as he was black and at the time America was very racist towards blacks. So the courts were very biased towards the whites. His description shows that for Tom to rape someone is would be near impossible to do so.

'In our courts, when it's a white man's word against a black man's, the white man always win. They're ugly, but those are the facts of life.' This quotation is taken from the novel To Kill A Mockingbird and it goes with the fact that the courts in America at the time were biased towards the white people.

Atticus who was the third outsider in the novel only became an outsider as he was Tom's lawyer and he was white. He was seen as a traitor for believing that Tom wasn't guilty and that he was prepared to get justice.

'I'm simply defending a Negro, his name's Tom Robinson.' This is Atticus' view on Tom. Unlike most people in America at the time, Atticus is prepared to stick up for a black man. Atticus is supporting Tom because he thinks he is right, but when he was appointed as Tom's lawyer much thought that he was simply just going to let Tom be charged with being guilty because he is a black.

Silas Marner also had wrongful accusations made about him. He was accused of stealing the Deacons money at Lantern Yard. Of course this made him very upset and he was forced to leave and he became isolated away from society. That's similar to Tom as he was also forced to live away from society because of his colour.

The settings in To Kill A Mockingbird plays a major role on the novel. Firstly it is set in Americas Deep South, a small town called Maycomb County. The reason for this being so important is that its set in the early 100's and this being the time when America was racially segregated with blacks being seen as second class citizens to whites. The Klu Klux Klan played a major part on peoples life's at the time this novel is set, however they are not featured in the novel. Neither are lynchings, which was a disgusting way for blacks to be executed without.

The setting for Silas Marner is rural England. The passage of time was just before the industrial revolution. The town Silas lived in was were many old ways were kept.

'And Raveloe was a village where many of the old echoes lingered, undrowned by new voices.' This quote explains the view that the town Raveloe kept many of its old traditions. The focal point of the town is the church. This goes with the view that religion was important in everyone's life back then, unlike it is today. Everyone would attend church then and would be superstitious with their beliefs as well.

The settings are pretty similar with the settings being small towns, which are segregated in their own ways. Both towns have their own beliefs on the way that things should be done. Maycomb believes in segregation because of colour while in Raveloe they keep to old ways.

The reactions towards Tom Robinson are pretty predictable, as whites don't like him due to his colour. These feelings towards him force him and the other blacks to live outside the main society and town.

Boo Radley has different reactions towards himself. The people of Maycomb make up stories about him, this not just being the adults but the children as well. This tells us that society at the time is wrong. Children are being brought up without the chance to find out what someone is really like, they are taught to prejudge people.

' Boo drove the scissors into his parents legs, pulled them out, wiped them on his pants, and resumed his activities.' This is a story about Boo told by Miss Stephanie. You have to question whether this is a true story as he keeps himself away from society, so therefore no one really knows what he is like. He has similar reactions with children, as does Silas Marner. Both men intrigue children as they have weird ways. In To Kill A Mockingbird Scout and Jem to local children discover a friendship with Boo. The children ignore the stories told about Boo and decide to find out whether they are true or not. Boo leaves a present in the tree for the children proving that he isn't so bad at all. He also rescues the children after Mr Ewell attacks them.

Reactions about Silas Marner change throughout the novel. People first think that Silas is strange, but after he cures Sally Oates, an old lady of illness he is then praised. Unfortunately for him people started going to him for help, he didn't like this and this is why he distanced himself from the society. After doing this the people of Raveloe thought he was working for the devil.

'He might cure more folks if he would, but he was worth speaking fair, if it was only to keep him from doing you a mischief.' A quote from the novel about Silas and his cures. At first he was prepared to help people, but when more and more came to him he refused. Unfortunately for him he was made even more of an outsider due to this.

Tom Robinson is a family man. He is married and has two little children. But he is discriminated against for being black and these forces him to live away from the community. He is seen as the lower class, only because he is black. He is always prejudged because of his colour and this is always a set back for him.

Boo Radley isn't really higher or lower class. He is white so he isn't seen as lower class in the novel, but he isn't higher class either. He is also forced out of the society like Tom is. Simply because he there is many stories made up and told about him. He doesn't go out any more, except when no one else is out. That is night time. He lives with his brother in the town unlike Tom.

There are many classes in a Maycomb at the time. The lower class of people were the blacks, they was seen as bottom of the pile simply because of the colour of their skin. The Ewells are a poor white family in Maycomb. They are a disgrace to Maycomb. They are an uneducated and uncared for family. They live near the dump, so like blacks they live away from society. Another poor white family in Maycomb at the time was the Cunninghams. Unlike the Ewells they were hard working farmers. They were proud and weren't willing to accept anything unless they could pay people back. A good example of this is when they exchanged food for Atticus help.

Silas Marner is lower class at first. This is because later on in the novel he adopts a young girl named Eppie. People aren't willing to accept him into their society because he is different to everyone else and is very superstitious. He's also seen as an outcast because of his fits he suffers from. Soon after he adopts Eppie he realises that he has to move back into the town with the rest of society for the good of Eppie.

'But yet men are led away from threatening destruction, a hand is put into theirs, which leads them forth gently towards a calm and bright land, so that they look no more backwards, and the hand may be a little child's.' This quote is taken from the novel, I think it shows the time when Eppie was brought into Silas' life and how he realised that he had to move back into society for the good of Eppie.

This is similar to Boo who also rejoins society for the good of children. He helps Jem and Scout Finch when they are in trouble. I think a strong morale to take from both novels is that society is quick to prejudge people. You only believe what you want to believe and in the case of the people of Maycomb and Raveloe they prejudge Boo, Tom and Silas without really getting to know them at first.

Why are Tom, Boo and Silas outsiders? I feel sorry most for Tom Robinson. He is only and outsider due to the colour of his skin. The early 100's were racially segregated and this is when the novel To Kill A Mockingbird was set. Tom becomes even more of an outsider after he has wrongful accusations about him made. He was charged guilty of raping a white girl, Mayella Ewell. This accusation is pretty ridiculous due to Tom having a disability with his left arm.

Boo Radley is the other main outsider in To Kill A Mockingbird. He has many allegations and stories made up about him, whether they are true or not they still made him an outsider. He doesn't get involved with the community until later on in the book when Jem and Scout need his help. Unlike Tom who is shot dead inn the novel, Boo ends up as not being an outsider.

Silas Marner is the only outsider in the novel Silas Marner. Similar to Tom Robinson he has many wrongful accusations about himself, which forces him out of society, and into isolation. He becomes more of an outsider after he refuses to give help, despite him already curing Sally Oates. He has a disability, which also makes him an outsider, he suffers from epileptic fits.

Narrators have an effect on the novels. To Kill A Mockingbird is written from a child's point of view, that being Scouts. As she grows up she sees things different to when she was a child and the language that she uses also becomes more complex. Silas Marner is written from first person narrator. This means that the narrator sees everything that goes on. The effect that this gives on the novel is good, as we find out about Silas more and more. We learn his history and his inner feelings.

The authors present different ideas about why people are outsiders. George Elliot the author of Silas Marner presents the idea of clashes between classes. For example she uses the poor class versus the rich.

'The poor thought that the rich were entirely in the right of it to lead a jolly life.' This shows a clash of classes.

Harper Lee presents a different idea. She uses prejudices as a whole. She mainly uses racism, as the novel was set during a bad time for Afro-Americans. An example of this is the way Tom Robinson was treated, he was forced to live out of the community and also had wrongful accusations made about him.

Despite the novels being wrote hundreds of years apart both have similar ideas. Both represent the idea of outsiders, as outsiders are central in both novels. The character of Silas Marner is very similar to the character of Boo Radley. Also the settings of both books are similar. With religion and church playing an important role in town life. Both towns are also segregated, with Tom living away from society because of his colour and Silas living away from society because of choice.

I think that the novel To Kill A Mockingbird presented the outsider Tom Robinson most effectively. One reason for this is because Boo and Silas were very similar and Tom was an outsider for a completely different reason. His appearance. He was black and lived in racially segregated community. This is more effective because this is historically true as well. The novel was set in the early 100's and that's the time when America was very racist. Also with it being set in America's Deep South made it more effective as that was the place were racism was at its worst. A similarity from both books is that society hasn't changed. Despite the novels being written hundreds of years apart they still represent the same idea. This is that people prejudge others, without getting to know them for who they really are. They take what other people say as the truth when a lot of the time it's just made up stories about someone. This still happens today in society.

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Research Project – AT & T Wireless Services

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Research Project AT & T Wireless Services

Abstract

Although AT & T Bell Laboratories invented cellular technology, it wasn't until the mid 10's that AT & T Corporation actually got into the business of providing wireless services to the public. AT & T, who was still not in the wireless business, was polled as the public's favorite provider of wireless service. People had no idea who was really providing their services, and at that time, AT & T was strictly a long distance company. They had, back in the 180's, built cellular systems in Chicago and Washington D.C., but nothing started moving and growing until McCaw Cellular Communications was actually bought out by AT & T Corporation. AT & T Wireless is now entirely dedicated to wireless communications since the split into four separate companies, providing an array of exciting, cost-effective communications solutions, including voice, data, internet, and text services. AT & T Wireless puts customers first. They have a passion to satisfy them by working to make their lives more exciting and more complete.

History

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Wireless or cellular service was actually invented in 147 by AT & T Bell Laboratories. However, it wasn't until 184, that AT & T Corporation built the first cellular systems in Chicago, IL and in Washington D.C. At that time, AT & T wasn't even a wireless provider; they were mostly involved in equipment, technology, and providing long distance services.

McCaw Cellular Communications was moving right along as a wireless service provider, using AT & T's technology and equipment. This brought about the creation of the North American Cellular Network, thus making automatic roaming possible for their wireless customers. In 1 McCaw developed the nations first digital packet technology allowing for wireless connectivity for personal computer users. Las Vegas was the first market to demonstrate and use this technology (AT&T Wireless Services, Inc., July , 00). http//www.attws.com/our_company/aboutus/history.jhtml.

In 1, almost 50 years after AT & T had invented cellular service, the wireless industry conducted a survey asking the public, "Who is the number one cellular provider?" They said it was AT & T. Well; obviously it was not because AT & T still was not a wireless provider at that time. That was an eye-opener and it certainly didn't take them very long to become a wireless provider (J. Fischer, personal communication, August , 00).

By 14, AT & T Corporation purchased McCaw for $11.5 billion (ATTWS-History, 00). With this purchase came a huge customer base for McCaw, and what AT & T got was the fact that McCaw was a very creative and innovative company, thinking out of the box all the time and able to make do very well with what they had. With the purchase, AT & T swept in with big corporate products and was able to do financially, in a few months what it would have taken McCaw on its own, years to do. The processes and the actual business took about four years to completely get on board with human resources as well as the processes of DH & S and what gets done with government filings.

One of the disadvantages of the buy-out is that big companies tend to want to put processes in place; they try to make things idiot proof USE A GUIDLINE. Too many times with large companies, people are caught up in those guidelines and the bureaucracy. It takes a long time to do things, unlike the days at McCaw, where things were done rather quickly. People at McCaw were empowered to make decisions; now as a larger company, there are a lot of processes and procedures to follow in order to get anything done.

Leadership really hasn't changed in regards to their mindset even with all the buy-outs, mergers, and splits. They are still very people oriented that part was kept pretty seamless always. They do care a lot about the people, in spite of the changes, the leadership stuck in there and remained the same (Fischer, 00).

AWE NYSE and the Four-Company Split

Several years after 14, still a result of the McCaw purchase nonetheless, AT & T Wireless Services began trading as a tracking stock on the New York Stock Exchange. By July 001, AT & T Wireless Services split from AT & T Corporation to become an independent company, AT & T Wireless (AT&T Wireless Services, Inc., 00). http//www.attws.com/our_company/aboutus/.

AT & T Wireless Services needed to generate revenue in order to make the change from G to .5G technology. As a result of this split AT & T Wireless Services became the only and the largest stand-alone wireless provider in the United States. The others out there are subsidiaries of other companies. AT & T Wireless had the advantage with a lot of financial backing but they needed the IPO and Docomo's money in order to make this technology change. In addition to the $10.6 billion that the IPO generated, Docomo made two very large investments in the company based on some of the changes regarding the technology and the companies' forecast. One thing to the companies' credit, they looked at this a year and a half ago, and they put a five-year plan in place. Nothing of this magnitude had been done in many years toward achieving goals. All the performance is being based on this five-year plan and it is being constantly looked at. Performance is being measured based on meeting these goals.

People however, are not very happy with the stock prices. The industry is taking a terrible hit right now. In technology, a lot of the dot coms, which AT & T Wireless was associated with, are no more. The people that provided the equipment for AT & T Wireless' switching were the same people providing the equipment for the dot coms. This all relates to stock prices and people just aren't very satisfied with the stock prices; it began at $ and now it is at about $4 or $5. This is a little discouraging to say the least, however, as for morale; it has created a lot of good jokes. There are some people who invested money they probably should not have because one should only invest risk capital. Most are in it for the long run; at least the people that Fischer works with on a day-to-day basis are they do not want to go anywhere. They are very satisfied with the family they have there at AT & T Wireless and most feel that with the five-year plan, once the new technology is in place and customers are shifted from one system to the other, everyone should start really raking in some dollars.

Of the four companies who were involved in the split, MCR is still around. Lucent went on a big roller coaster ride, stock going up, up, up; they made some money and then went back down and now they have changed their name. McCaw was bought out and became a part of AT & T Wireless Services and now AT & T Wireless Services became AT & T Wireless, the world's only stand-alone cellular provider (Fischer, 00).

J.D. Powers Awards

Winning J.D. Powers awards is about being in tune with the customer. Most of what is done at AT & T Wireless is they go out and they ask what people want and need and they pay attention to the customer's answers. It is important that they have sales people and representatives that can talk to the tech ops people on a technical level to get the network tuned in to where customers are having problems. The sales and marketing people are really in tune to that and it is going to be very difficult for them going forward as the technology changes from G to .5G. The achievement of this is going to be instrumental to AT & T Wireless' success.

This new technology is going to make everything more efficient, giving AT & T Wireless the capability of transmitting things over the Internet using WAC capabilities and different types of technologies. It is leading edge, things like taking pictures from your telephone, surfing the Web, and there's no limit to its wit. What we are doing is Mmode and Mlife.

Mlife is a mobile life. People can do everything from their phone, for instance, they can order shoes, go on line and see what the rain forecast is in your favorite city anywhere in the world. It is a good way for people to be free. No one needs a computer, he or she can search the Web with his or her cellular phone it is a mobile life. Nothing needs to be connected by those little wires check the weather, your stocks, get the lotto printed out for you every day, it is incredible. The technology of these phones is unbelievable; they have infrared and they also have blue chip technology. This means they will transmit radio frequencies on a very low frequency to the printer. One day this technology will be in microwaves, dishwashers, laundry rooms, stoves and so on and on. That's where we are headed it is on the market now. There are certainly some interesting times in the near future. Ten years from now, because of wireless capabilities and technology, it is going to be quite the electronic place. The great part is that it will be made very user friendly so a person will not need an engineering degree to use these things. They will very soon be common place (Fischer, 00).

Locations and Employees

The main headquarters for AT & T Wireless are located in Redmond, WA. There are smaller hubs in Texas, California, New Jersey, North Carolina, Georgia and Florida, with markets and service areas in every state, in Canada, and in parts of Mexico basically all of North America. Most of the site building is completed with pretty much all of the corridors where people work, live and play being filled up. There are a few spotty areas in North Carolina and Georgia where the market grew unbelievably and it is being worked on now. Otherwise, any time and money being spent on site building is strictly for high-end customers with special needs (Fischer, 00).

AT & T Wireless in more than 500 locations throughout the United States employs approximately ,000 people. The company is very committed to its colleagues and co-owners. It is built on these diverse individuals who are team players. These players have responsibilities, make contributions, and help AT & T Wireless win. Every person's growth is essential to the company's success and all the employees accept the challenge as co-owners, to reward all the investors by winning in the market place (ATTWS, 00).

The overall staff at AT & T Wireless is pretty lean right now but the company has always run lean. The management works very hard to preserve the jobs they have, keeping everything lean while making all the shifts with the customers to the new technology. Labor is an expense and the company is big on keeping the margin between profits and expenses small. There is virtually no hiring from outside at present; they are constantly shaping and molding the business. This is known as smart moves, the changing of titles and shifting employees around to avoid any further layoffs. But they are, due to business constantly changing, always molding (Fischer, 00).

Vision Strategy Commitment

"We envision a world where wireless seamlessly and simply connects us to the people, information, and things we care most about, enabling us to be simultaneously connected and free." (ATTWS, 00). The company expects to have their .5G services in all their markets by the end of 00 and to be among the first to deliver true G wireless products and services by sometime in 00 (ATTWS, 00). According to (Fischer, 00), one thing the company has done from a vision standpoint is allow them the power to imagine and share their imagination freely with their co-workers and those in leadership. He says the company does a lot of fun things with their people and they encourage them to sit down to talk and give feedback. They try to instill the company goals but never lose sight of how important these individuals are in making the company vision a reality. Whether a person is a bean counter or a twiget out in the field turning dials, they all have something to do with the goal and the company does a great job of communicating this (Fischer, 00).

"Our strategy is to be the pre-eminent company for mobile, voice, and data services in the major markets of North America." (ATTWS, 00). This includes making sure the quality is such that the customer is satisfied. Bringing in all the new technology means overlaying and managing two networks a juggling act to maintain the consistently higher level of quality (Fischer, 00).

"We are committed to our customers, our colleagues, the co-owners of our business, and our communities." (ATTWS, 00). The company has a passion to satisfy all their customers. Customers are "first" with AT & T Wireless and their every effort is to make the customers lives more exciting and more complete. Colleagues are valued because everyone's growth is essential to the success of the company as well as the individual. In the community AT & T Wireless strives to make time and help each other make time for the people who depend on the services of AT & T Wireless at home, at work, and where they play. AT & T Wireless promises, "We will keep these commitments by bringing integrity to every action, respect to every relationship, and excellence to everything we do." (ATTWS, 00).

Revenues Sales Service Area

Revenues were in excess of $1.6 billion as of the end of 001 and 1.5 million consolidated subscribers were being served. There are currently more than 70,000 retail outlets across the country offering products and services. These products and services are also available online at http//www.attws.com/. AT & T Wireless holds licenses from the FCC to serve percent of the U.S. population. Along with affiliates and roaming partners, AT & T Wireless makes voice services available in more than 7,700 cities across the United States and Canada (ATTWS, 00).

References

AT&T Wireless Services, Inc. (00). Keeping People Connected Our Company. Retrieved July , 00, from http//www.attws.com/our_company/aboutus/

AT&T Wireless Services, Inc. (00). Keeping People Connected Our Company AT&T Wireless History. Retrieved July , 00, from http//www.attws.com/our_company/aboutus/history.jhtml

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Why A Woman Can't Be President of the United States

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Debbie Smith

10/11/01

I agree with Carol Gilligan's overall message¡Xthat men and women have fundamental differences. However, I have a lot of uncertainty about her specific conclusions. According to Gilligan, the following are some key personality attributes that are typical of men and women

MEN WOMEN

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„XRules-oriented„XRelationship-oriented

„XIndividuation„XDependence

„XDefined through repression „XDefined through attachment

„XOutdoor play„XIndoor play

„XLarger, age-diverse play groups„XEmpathetic

„XDisputes in games easily resolved „XDisputes tend to end games

„XRules/procedures oriented„XRules are more flexible

„XGames are more competitive„XCompetition anxiety

„X'Rights' are important„XOther points of view included in judgment

„XSquabbles enjoyed„XTurn taking games with fewer 'moral lessons'

„XGames with higher skill levels„XLess developed 'legal' sense

„X¡§In defining themselves as masculine, separate their mothers from themselves.¡¨ -Gilligan„X¡§emerge with a stronger basis for experiencing another's needs or feelings as one's own¡¨ -Gilligan

„XGames last longer„XLearn responsibility for 'taking care'

„XLearn organization skills from their games „X¡§(fuse) the experience of attachment with the process of identity formation¡¨ -Chodorow

I had intended to proceed with this essay by applying these attributes and suggesting a few career choices that might optimize the best qualities in men, and others that might be best suited to women. But, even before I began, I felt torn. On one hand, I do believe a female physician could theoretically be more sensitive and empathetic than a male doctor. But, conversely, I don't want to believe that a woman couldn't also be an aggressive, tough attorney.

Instead, I think I'll redirect my focus and discuss society's perceptions and how they can lead to career limitations. In many cases, a woman could very easily do a 'man's job,' and vice versa. However, society's attitudes and misconceptions can literally turn perception into reality and make gender lines virtually uncrossable. In other words, society's self-fulfilling prophecies create situations where it is impossible to succeed no matter which side of the 'list' one's personal attributes might happen to lean toward. So, within the remainder of this essay, the topic I'd like to address is, ¡§Why A Woman Cannot Be President of the United States.¡¨

Before I proceed to the presidency, I'll begin at a level a little lower in the ranks. Remember Shannon Faulkner, the first woman to be admitted to the Citadel as a cadet? Of course, the Citadel tried to de-admit her when they found out she was a woman. But Faulkner ultimately prevailed and won the battle! Unfortunately, she promptly lost the war. Shannon Faulkner dropped out of the Citadel after only her fifth day of 'Hell Week.'

The June 0, 16 ¡§Charleston Post and Courier¡¨ published a photo of gleeful (male) cadets, with the caption, ¡§The image of cadets celebrating Faulkner's departure was seen around the world.¡¨ In other words, Faulkner's male counterparts were thrilled at her defeat. Can women really be successful at the Citadel at the same level that men can? How many people are truly able to prevail under the sort of conditions Shannon Faulkner endured? It would be very difficult for women to have large or even moderate scale accomplishments at the Citadel because it's a hostile environment that treats women as if they don't belong there. Women cannot experience the same circumstances and benefits that men enjoy at the Citadel, period.

But, perhaps Shannon Faulkner's experience was an isolated one¡Kwhat about Kara Hultgreen, the first woman qualified to fly as a 'Top Gun'-type fighter pilot for the Navy? Since Ms. Hultgreen successfully climbed to such a high-ranking position in the Navy, surely she had won the respect of her peers, and was appropriately honored by them after her untimely death during a landing exercise? Unfortunately, no. This comment from the Arlington National Cemetery website hints at the 'honor' that was bestowed upon Kara Hultgreen by the other Naval officers

'She received full military honors upon her death and no special attention was drawn to the fact that she was the first female Tomcat pilot. However, unsigned faxes began to circulate, maligning her record, and suggesting that the Navy in its rush to integrate women into the ranks was placing unqualified people on aircraft. Zimmerman says, It was an unheard of breach of naval aviation etiquette to question the flight record of a pilot who had gone down. It was just not done. Except with Kara Hultgreen.'

Does an American woman have the ability to become a top-notch fighter pilot? Absolutely. Does an American woman have the same opportunity as an American man to receive the deserved degree of affirmation, honor, respect and praise as a fighter pilot? I don't think so. Male fighter pilots will come and go, and we will probably never even know if, when or how they die. Unfortunately, when the next female fighter pilot dies, she too will be likely to have her achievements over-shadowed by the doubts that naturally accompany her deviant XX chromosomal makeup. Women like Kara Hultgreen have an uphill battle, because they have to prove to the world that they can be fighter pilots. The biological/psychological qualities of men, however, never have to be defended because they're never considered suspect¡Kall men are just naturally made the 'right' way. Men are born with the benefit of the doubt.

As I come nearer to actually addressing my topic, ¡§Why A Woman Cannot Be President of the United States,¡¨ let me make one more stop along the way. Consider the closest we have come¡KGeraldine Ferraro, who was the vice-presidential running mate of Walter Mondale in 184. Following is a quote from Ferraro, as published in the Harvard 1 Winter/Spring Bulletin

I had to prove that I was as good, if not better, than a man would be, she said. For men, theres a presumption of competence. For women, theres the burden of proof. That gets exacerbated at the national level.

During her 184 vice presidential bid¡Kshe was constantly peppered with questions not only about her toughness, but also about her lack of foreign policy experience. Are you strong enough to push the button? asked the Kennedy Schools Marvin Kalb, then a CBS newscaster, on Meet the Press, three days after her first vice-presidential debate.

We never ask, how would a Steve Forbes deal with an international crisis? Ferraro pointed out. When I ran, it was, is she capable of understanding missiles? Could she push the button? Nobody raises that with the guys. As a woman, as the first, I was tested on every level ¡X substance, emotional, and physical. In fact, I traveled more than Fritz [Mondale] and more than Bush and Reagan combined. I had to prove that physically I could.

Ferraro's polite comments may help illuminate the media's mentality, but mainstream public opinion was even harsher. Some people gossiped about Ferraro's husband, and he was often scrutinized more closely than she was. After all, what the man in the family does is certainly of primary importance when one is contemplating a woman's capabilities. There were also those who speculated about the 'what ifs' surrounding the possibility of Mondale's death, and whether the United States would be willing to accept a female President. I've heard it was said (although I can't find anything 'official' to support this) that many loyal Democrats were strongly in favor of Mondale for President, but they voted Republican rather than accept a woman as Vice President. Interestingly enough, from what I understand the Republicans had quite a landslide victory that year¡K

Now, without further ado, I will begin my essay on ¡§Why A Woman Cannot Be President of the United States.¡¨ I'd like to start with a quote from Sojourner Truth

¡§That man over there say that women needs to be helped into carriages, lifted over ditches, and to have the best place everywhere. Nobody ever helps me into carriages, or over mud-puddles, or gives me any best place! And aint I a woman? Look at me! Look at my arm! I have ploughed, and planted, and gathered into barns, and no man could head me! And aint I a woman? I could work as much and eat as much as a man-when I could get it-and bear the lash as well! And aint I a woman? and when I cried out with my mothers grief, none but Jesus heard me. And aint I a woman?¡¨

Ms. Truth implies that women can endure all the hardships of men, in spite of our 'delicate nature.' It's my contention that we endure greater hardships than men, since we have so many more obstacles to overcome. So, why can't a woman be President of the United States? Well, in my opinion, it's because of all the reasons I've previously demonstrated, and then some. Just reflect upon our current national crisis, and suppose that we had a female President. Remember the tears that have been so touching in the eyes of Rudy Giuliani and George Bush? A woman with those same tears would be seen as weak. That perceived weakness would immediately raise other concerns that would run rampant through the news, ¡§Does the President have what it takes to attack and defeat these terrorists?¡¨ Or, if she took a hard line on terrorism, there would surely be references to over-compensating and penis envy. Our national confidence would be plummeting as our fears escalated¡Keven women would be quoted as wondering whether a woman was really suited for this sort of work.

Although we like to think of ourselves as progressive, we are stubbornly clinging to outdated ideas about women. India has had a woman President, England had a female Prime Minister¡Keven Pakistan, a place we like to think of as extremely third-world and backward compared to the United States, recently had a woman as the Prime Minister (I wouldn't have known this if I hadn't recently seen it on the news). However, as leaders of the free world, we still cling stubbornly to the hero and homemaker myths (although now it's ok for the homemaker to also have a job).

Fortunately, the news isn't all bad. Just as racism has abated dramatically within my lifetime, it appears that gender lines are beginning to be redrawn. Carol Gilligan's research, which is only twenty years old, is beginning to appear out-of-date. Males and females are breaking their childhood molds, and we're seeing the development of a whole new ballgame¡Kfiguratively and literally. As women begin to accumulate successes on the playground and in the boardroom, old attitudes seem to be losing their grip on the younger generations.

A woman can't be president of this country. Not right now, anyway. But just as my parents' lives saw the initiation of civil rights for black Americans, I'd like to think that before my life ends I will see another evolution in thinking, and that a woman will be our commander-in-chief. Not because she's a woman¡Xbut in spite of it. Hopefully my own thinking will evolve by then as well, and maybe I'll even consider going to a male gynecologist¡K(but I doubt it!).

 

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Remuneration

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Abstract

The real wage of the average worker in the United States has fallen 1 percent in the last 0 years, while the average chief executive officer (CEO) has received a pay raise of over 00 percent (Crystal, 11). This glaring contrast has sparked an explosion in academic research on executive compensation. The argument that Crystal (11) proposed, ¡°just about all of the rational factors you can think of, taken together, don¡¯t play a big role in determining executive pay¡±, is dominant in this medium. Despite this fact, research on executive paychecks has continued to grow as the literature is truly interdisciplinary across the fields of economics, finance and accounting, industrial relations, organizational behavior and strategy (Murphy 1).

Labour economists have drawn upon many conclusions on executive remuneration from a large theoretical and empirical interdisciplinary literature. They argued that executive remuneration offers opportunities to analyze many concepts of the economics of managerial labor market. Hence, in this essay I am going to explore these opportunities by looking at the functioning market in the captioned perspective.

The managerial labor market, which contains a range of firms that are with managerial jog openings and a range of potential managers who have different human capital characteristics, has two sides. On the one hand, the demand side, which is made up of employees who produce goods and services, and employers who purchase executive effort, concerns paid managerial labor as a function of the latter¡¯s pay and productivity. On the other hand, the supply side composes executives who are assumed to switch firms according to the characteristics of the firm and the salary. By understanding the two sides and the disciplining effect of the managerial labor markets, firms can identify the market forces that determine the optimal executive remuneration contracts so as to maximize firm value (Fama 180, Fama & Jensen 18). The use of such knowledge align with the understanding of managerial behavior with owners¡¯ interests can help firms to choose corporate policies that best signal their own value to the labor market such as CEO remuneration. Since one of the most important objectives of firms is to maximize their value, executives are disciplined into undertaking strategies preferred by the stockholders that maximize the firm¡¯s stock price (Fama 180). Hence, suggesting the major functioning of managerial labor market are to determine the rational level and structure of remuneration package and to reflect the managerial labor market¡¯s control of executives¡¯ behavior to maximize firm value.

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Despite the fact that executive remuneration schemes across firms and industries are substantially heterogeneous and complex, it can boiled down to four basic elements a base salary, bonus, stock options and long term incentive plans. I will examine these in turns. First, base salary for executives is a key component of the pay package. It represents the ¡° fixed component¡± in executive contracts. Second, bonus is paid annually based on accounting profit, budget, prior-year performance or incentive zone. Third, stock options are agreements that the executive may purchase from the firm at any time within a stated period or a given number of shares of its stock at a price specified on the date of granting (Easton & Rosen 18). This, with regards to political, economic, mechanical and behavioral factors, has made it the most pronounced method in executive remuneration in the last two decade (Murphy 1). This is because it relates the executive¡¯s income most directly to the concern of shareholders, i.e. the value of the firm. Finally, the long- term incentive plan, which is based on rolling ¨C average -or-5-year cumulative performance.

As I have stated before, the major function of the managerial labor market is to set a rational level and structure of the executive remuneration package so to maximize the firm¡¯s value, i.e. the executive remuneration reflects the managerial labor market¡¯s control of executives¡¯ behavior to maximize firm value. Hence, making the relationship between executive remuneration and company¡¯s performance the fundamental concern.

In order to understand this concern, we have to examine the agency theory as it is the principal theory guiding research on the pay-performance relationship (Berstein 17; Crystal, 15; Lowenstein 16; Gomez-Mejia 14; Gomez-Mejia and Wiseman 17; Fama & Jensen 18; Jensen & Meckling 176).

Agency theory states that many social relationships can be best understood as interactions between two parties principal and an agent. The agent performs certain actions on behalf of the principal, who must delegate some authority to the agent (Jesen and Mecking, 176). By examining the theory, firms can be in a better position when dealing with contract problems that are governed by an exchange between individuals who have divergent interests.

Typical organization in most western countries, which has a corporate structure with thousands or millions of owners, each having a small claim on the firm, can be used to make a clear illustration of the above. Shareholders of the organization are widely dispersed, delegating responsibility to running the business to hired executives. Given their limited control over corporate affairs and executive¡¯s limited stake in the firm¡¯s equity and risk, executive is expected to engage in behavior that promotes their personal wealth, perquisite consumption, job security and prestige but is detrimental to stockholders¡¯ interest in maximizing the value of the firm (Jesen & Mecking 176). The literature on agency theory has suggested that the optimal solution to goal incongruent is to have remuneration contracts that link executive remuneration to the performance of the firm. Hence, through the executive¡¯s holdings of stock, restricted stock, and stock options, an executive remuneration is explicitly tied to the principle¡¯s objective, i.e. the executive wealth is implicitly tied to the stock-price performance through accounting-based bonus and option (Murphy, 1). This in turns suggests that the performance-based remuneration will induce self-interested, utility-maximizing, risk-and-effort-averse agents to act on the behalf of principals who want to increase the value and performance of their firms (Eisenhardt 18; Jesen & Mecking 176). This view, however, has failed to find supportive evidence of such positive relationship (Jesen & Murphy 10; Kerr & Bettis 187; Mceachern 175; Rich & Larson 184). These researchers have claimed that the relationship between executive remuneration and firm performance is either nonexistent or is of a very weak nature, that is, remuneration is significantly unrelated to the firm¡¯s performance (Crystal 11) or if related, then only related to the short-term performance (Rapport 178). In contrast, some studies claim that the executive remuneration is more closely related to the firm¡¯s size than to the firm¡¯s profits (McGuire 16). Therefore this inconclusive effect of executive remuneration on the functioning of managerial labor market has brought a great puzzle to the researchers.

Therefore, to understand the functioning of managerial labour market, alternate mechanisms and criteria outside the agency framework are examined. These mechanisms include marginal productivity theory, internal and external market theory, board control theory, information-processing theory and social comparison theory, will be examined in turns.

Marginal productivity theory views the managerial labor market as perfectly competitive, that is there are a large number of individual, perfectly informed buyers and sellers of homogeneous executives. Hence, remuneration, viewed as the price of labor, is seen as being determined by the intersection of labor demand and supply curves in the market. Firm maximizes its profits in the short run by employing executives up to the point where the executive remuneration equals executive¡¯s marginal revenue product (MRP). It equals to executive¡¯s marginal physical product (MPP) multiplied by marginal revenue (MR). According to economists, executives are assumed to be highly mobile and fully informed and would supply their labor service to the highest bidder. Executive supply and demand are quickly brought into a state of equilibrium through executives moving from one firm to another in response to opportunities to obtain higher earnings. Thus, by looking at the profit-maximizing firm¡¯s short-run demand curve for executives, which is the schedule of its marginal revenue product, executive remuneration can be determined by the value of his contribution to the firm.

Another influential theory regarding the internal and external managerial labor market of executive pay is made by Fama (180). He argued that the external labor market exerts many direct pressures on the firm to sort and compensate executives according to performance. Hence, there is a natural process of monitoring from higher to lower levels of management, i.e. each executive is concerned with the performance of executive above and below him since his marginal product is likely to be positive of their. This leads to a careful consideration of the mechanics, which the potential executives used to seek information about the responsiveness of the system in rewarding performance. Thus this market mechanism ensures the rights of shareholders and the rights of the top management are respected.

The third theory views the board as the legal representative and formal guardian of stockholders¡¯ interests, i.e. the board members have the task to oversee and ratify managements¡¯ decisions and to evaluate reward and sanction executives¡¯ performance (Bacon & Brown, 175). Research has focused on two broad factors, executive duality and the proportion of outsiders on a board in evaluating the influence the board exerts in setting executive pay. Finkelstein and Hambrick (18) found no evidence of a relationship between executive remuneration the percentage shareholdings of outside directors. Furthermore, Boyd (14) found that ¡° contrary to expectations, the ratio of insiders was negatively associated with compensation¡±. Other work has also shown that the proportion of outside directors appointed to a board by its executive has a positive effect on executive remuneration (Main, 14). This theory also suggests that there is a threat of board actions and termination in response to observed managerial inefficiency or opportunism, which is likely to impel executives to refrain from behavior that is in conflict with stockholders¡¯ interests. Thus the characteristics of the board such as its structure and its effectiveness are key determinants on the executive remuneration and the sensitivity of the relationship between remuneration and performance.

Information-processing theory is very important when contributing on the recent work on executive remuneration as it focuses on the substantive nature of the job performed by executives on the social and political context of their pay. There are several reasons for expecting the remuneration of executive is in accordance to the information processing demands they face instead of the firm¡¯s performance. First, information-processing tasks are a major part of executive¡¯s jobs and the execution of such tasks is critical to organizational functioning and performance (Eisenhardt 18; Galbraith 17; Halrblian & Finkelstein 1; Minzberg 17; Thompson 167). Second, executives¡¯ jobs vary considerably in the information-processing demands they create. The common theme of such research is around those demands that are significantly affected by three firm-level factors (1) the number and interdependence of a firm¡¯s business activities. () the technologies the firm employs and ( ) the management used to administrate the firm (Chandler 16; Dafe & Lengel 186; Galbraith 17; Gresov 18; Hill & Hoskisson 187; Jones & Hill 188). This theory, therefore, shows that executives who face particularly high information-processing demands due to the diversification approach to technology their firms adapted will be expected to be paid more, as their ability to cope with these demands allow them to make larger marginal contributions to firm performance (Henderson & Fredrickson 16).In an informational efficient executive labor market, it is unrealistic to expect changes in executive pay to be closely related to firm performance measure, i.e. it has a low sensitivity of pay-for-performance.

Finally, the use of social comparison theory provides us an understanding of socio-psychological explanation of remuneration. This theory is based on the remise that individuals have the need to evaluate their opinions and abilities. They compare with others who have similar abilities and opinions. In the case of managerial labor market, the implication is that the remuneration committee will set the pay of executives who are perceived to be slightly better by striking a balance between providing financial incentives to executives to improve firm performance and avoiding a binding ¡°participation constraint¡± (Smith & Stnabsju 15). That is to ensure that executives remain loyal to firms by offering levels of pay comparable to the external labor market alternatives.

So far, I have discussed what factors determine the executive remuneration and how they effect on the firm¡¯s performance from the economics, psychological and sociological perspectives. However, these are not sufficient enough to understand the functioning of the managerial labour market fully. Recent work, perhaps responding to the difficulties with traditional economies-based research on remuneration, has begun to move beyond established frameworks and suggests some new factors that may influence the remuneration-setting process. Managerial discretion, efficient wages model, tournament models (Lazer & Rosen 181; Rosen 186), resource dependence theory etc are some examples of paradigms that explain executive pay, which have moved the stream of research on executive remuneration forward greatly.

To sum up, research on executive compensation has a long history. Much of this work has adopted the economics perspective, which views social, political or strategic factors as the determinants of executive pay. In this essay, I have tried to explore the functioning of managerial labor market based on the existing comprehensive theoretical and empirical literature on executive remuneration. My conclusion is that although the pay for performance is consistent with agency theory, the relationship between executive remuneration and performance is more complex than the empirical research has presumed. Since the extent to which the functioning of managerial labor market is effected by the executive remuneration is still inconclusive, a broader perspective should be adopted by firms in order to have a better understanding of the functioning of managerial labor market from the executive remuneration stand.

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