Week8 Post

This literature review has helped me to focus more on making sure that my sources are reliable and will not negatively affect the credibility of the overall essay. In my literature review, I found the entire writing process to be difficult when I started but once I decided to free write and then organize it afterwards, I found my way out of the writer's block. Most people like to organize what they are going to write first but I like to free write, get all my ideas on paper and then organize it from there. It was also difficult comparing the literature I found but once I found that common thread, it turned out to be pretty easy afterwards. I have learned a lot of financial literacy/illiteracy and how it positively affects small business owners and individuals within society. Unfortunately, some of my questions have still gone unanswered. I wanted to find a more specific research on how financial literacy programs affect small business owners' businesses and have more empirical studies of such findings. However, this was hard to find because the subject I explored needed to be further investigated and researched in order to display accurate effectiveness of financial literacy programs. This assignment has been a revealing process because it showed me what skills I need to work on and taught me a lot about my ability to learn and obtain information in order to make connections with another work. It was really interesting to see the transformation of my review and I look forward to completing prior to graduation. This last assignment has been a learning experience for me and I plan to use these skills in my other classes as well. 

Week8 Post

This literature review has helped me to focus more on making sure that my sources are reliable and will not negatively affect the credibility of the overall essay. In my literature review, I found the entire writing process to be difficult when I started but once I decided to free write and then organize it afterwards, I found my way out of the writer's block. Most people like to organize what they are going to write first but I like to free write, get all my ideas on paper and then organize it from there. It was also difficult comparing the literature I found but once I found that common thread, it turned out to be pretty easy afterwards. I have learned a lot of financial literacy/illiteracy and how it positively affects small business owners and individuals within society. Unfortunately, some of my questions have still gone unanswered. I wanted to find a more specific research on how financial literacy programs affect small business owners' businesses and have more empirical studies of such findings. However, this was hard to find because the subject I explored needed to be further investigated and researched in order to display accurate effectiveness of financial literacy programs. This assignment has been a revealing process because it showed me what skills I need to work on and taught me a lot about my ability to learn and obtain information in order to make connections with another work. It was really interesting to see the transformation of my review and I look forward to completing prior to graduation. This last assignment has been a learning experience for me and I plan to use these skills in my other classes as well. 

Week 7 Post

This week I have explored and delved more into the makings of a good annotated bibliography. Although, I thought it would be difficult when I first looked at the sample, I realized through reviewing the textbook and lecture notes that it was not going to be as hard as I anticipated. The longest part was compiling credible sources for me which was kind of tricky but by following helpful hints outlined in the text book, it was easy to navigate through each source. I understood while going along that the more you do research and compile academic articles, eBooks, and documents, you become more familiar with the process. I used the CRAAP Test several times after watching the short video! That method turned out to be very helpful in deciding between two very good sources. I ran into several new sources that tapped into other pockets of my research which only expanded my interest in the topic even more and helped me to develop a better understanding of financial literacy programs. Unfortunately, my topic has not had any substantial studies done that capture the widespread positive effects of financial literacy programs but the research shows that there will soon be a charge in the right direction. I feel that my question that highlights the overall effectiveness of financial literacy programs in the small business arena has kind of gone unanswered because no substantial empirical evidence has been shown through studies. According to researchers, showing the overall effectiveness of these programs is stuff because of limited small surveys, little feedback and other factors that can affect the outcome of the financial behaviors and decisions of people. I think the aspect of my research that would be the most interesting to a wider audience is the youth financial literacy programs being implemented in high school which highlights the early proactive tools that are used in order to help them become more financial responsible young adults.

Research Question: Have the level of financial literacy programs been effective enough at the micro business level? (Small business and entrepreneurial startups? If so, to what extent have they been effective?

Sources:

Holzmann, R. (2010, August). Bringing financial literacy and education to low and middle income countries. SSRN Electronic Journal SSRN Journal. doi:10.2139/ssrn.1707673

 Huzdik, K., Béres, D., & Németh, E. (2014). An empirical study of financial literacy versus risk tolerance among higher students. Public Finance Quarterly (0031-496X), 59(4), 444-456. Retrieved from  https://www.asz.hu/

Van Campenhout, G. (2015). Revaluing the role of parents as financial socialization agents in youth financial literacy programs. Journal of Consumer Affairs, 49(1), 186-222.

Shen, C., Lin, S., Tang, D., & Hsiao, Y. (2016). The relationship between financial disputes and financial literacy. Pacific-Basin Finance Journal, 3646-65. doi:10.1016/j.pacfin.2015.11.002

Hendriks, T. P. (2010). National financial literacy strategy. New York: Nova Science Publishers, Inc. Available from http://eds.b.ebscohost.com.libproxy.chapman.edu/

Jobst, V. J. (2014). Does a University Financial Literacy course change financial behavior?  Journal of Higher Education Theory & Practice, 14(5), 63-77.

Week 6 Blog POST

I feel these research practices will affect my research by allowing me to have my own independent thinking. By infusing my own ideas with others to come up with a better and more efficient way, I will create a unique end result. I think academic integrity is important because it exercises your honesty and the type of person you are. Also, it shows the values that are instilled in you. Plagiarism to me is un-ethical and taking someone else’s work or idea is not fulfilling the maximum potential of your brain. Intellectual property is one of the best attributes you could have because it works the creativity part of the brain and eventually you could apply for a patent or trademark. Knowing these different types of practices could help me perform better in my every day thinking and writing. Not having academic integrity, copying someone else’s work, could stunt my own intellectual, professional and academic growth in the long run. Also it just will not sit right with me just knowing it is not coming from my own intellectual properties.  That is not a risk I will ever be willing to take.

Week5BlogPostAssignment2

This week, my research question is still in the developing stage and I hope it will get approved. However since my first question did not, I am hoping my change in direction with it will suffice for a solid research foundation. Focusing more on the levels of financial literacy within different societies instead of on a stagnant subject of financial education for entrepreneurs has broaden my scope. Through my empirical research assignment this week, I have found that many factors can adversely effect business decision making for the good and the bad. By having not only basic financial knowledge but current societal financial knowledge, a entrepreneur can make better decisions. Risk taking is a volatile way to handle business on any level when uninformed about the current financial market state. The article cites that in 2008 financial illiteracy is increasingly widespread among the American population, particularly in special demographic groups. Typically, financial literacy is especially low in the case of those with a lower education, women, Hispanics, and Afro-Americans. This is really interesting to me and I would love to do a deeper analysis on this subject. This other article that mentioned this information was written by another author which I would also like to look up and read more of her studies. I think my topic can go a number of ways which is why I need to stay focused on my question at hand and not get side tracked by other issues within financial literacy. Overall, I am very happy with what I have learned and found through my research and I think my skills have gotten better through reading supplementary tips for this week. It has helped me to sharpen my skills and helped me to be more efficient when searching for reliable sources and articles. I think I still have more to learn but I am definitely on the right track.

Week 4 Assignment 2 Blog Post

Through necessary research this week, the knowledge I have gained about opening and owning my own business has been invaluable. Some things I learned are as follows: be genuine to people, relate to customers by established a relationship and or rapport with them and to save and spend money effectively.  By being genuine to your customers and potential customers, you will let them know that you will not try and over price the work you do and you will also build that customer and client trust/friendship. The integrity I have will only help to build my brand and possibly bring in more dedicated clients. Furthermore, by building a relationship to the customers will not only bring them back, but also attract other potential additional customers that share the same interest that would lead to expanding your business. By learning the importance of managing money and investing, you will have a greater control of the profit you earn.  On time bill payments are a plus in any business because if you start to be delinquent on your bills, it will be forwarded to the IRS which in turn would put your business in a negative situation. Financial stress resulting from poor money management can affect our capacity to make   good decisions, harm our business relationships, and affect physical and mental health. I learned that one major cause of poor money management is bankruptcy where a business owner has no other choice but to file for it to preserve what is left of his or her empire. Also, I did not find any difficulties and frustrations while trying to gather information on any articles.     

Week 3, Assignment 2

This week, I gained a deeper understanding about the research process and how to navigate through the system as well. Since I am just starting out with my college experience as a Business Administration major, I have learned a lot more about the ins and outs of owning your own business. The startup process of any business is crucial to your success and details must not be overlooked. If they are overlooked, business may become a liability rather than a asset. I learned new terms such as risk management, volume production and operational innovation which are common business terms. I had a bit of difficulty at first trying to find the downloadable pdf version of my source but once I actually reread the directions and slowed down, I figured it out. I also had to make sure I stayed as specific as possible since I already had a topic in mind. I also had to stay focused on my topic and not get swayed by other topics that popped up while searching for the perfect book/article source. A new search strategy I utilized was reading the index and the description of the book in order to see if the text was worthy to be considered. I also used the catalog that opens in an advanced search with several boxes that enabled me to specify type of search and to format it with Boolean operators. I have never heard of Boolean operators until now; I felt technologically out of touch!  I hope to keep developing a depth of knowledge on my research topic in order to apply to my own personal business endeavors I am planning on achieving in the near future. I hope to find tips, insight information and current business pointers that will not only enhance my knowledge but enhance my life.