Leadership and HRM Essay Example | Topics and Well Written Essays - 3000 words

Leadership and HRM - Essay Example Deregulation in many of the European countries have led to less collective arrangement for employees and more employee benefits at an organizational level . Most of the recognized organizations all over the globe have: (Rioux, Bernthal, Wellins,) `Best Practices` within an organization has often been linked to the Human Resource system that is being adopted by any particular organization. Human resource systems refer to the electronic tools that are used to assess and perform HR related information and functions respectively. Human resource system enables the HR staff to execute all the HR related activities such as personnel actions and job announcements. Marriot International has adopted various innovative HR practices which has earned it the reputation of â€Å"the best place to work† in the hospitality industry. Marriot`s spirit to serve has in fact guided its various HR initiatives. The company has reaped several benefits because of its employee friendly HR practices. J. William Marriot had set `The Hot Shoppe` in Washington in 1927 where hot food was served along with root bear. In 1937 Hot Shoppes ventured into airline catering services at Washington Airport. Over the next three decades Hot Shoppes diversified its business into many other service management sectors and in 1967, its name was changed to Marriott Corporation. In 1982, Marriot acquired Host International and became the largest operator of airport terminal food, beverage and merchandise facilities in the US. With the acquisition of Saga Corporation in 1986, Marriot became the largest food management company in the US. Marriot has also diversified into moderate price segments of hotels under the brand name of `Courtyard`. Today Marriot is a product of the metamorphosis that began fifteen years ago. Five major trends that can define the organisation are: Marriot has always been known for the

USA Isolationism Essay Example for Free

USA Isolationism Essay Focus areas * What form did Isolationism take? * Why did successive presidents feel they had to follow this policy? * Why did the Isolationism era end? * Was the US truly Isolationist during this period? 1. THE BASIS FOR SUPPORT IN AMERICA FOR ISOLATIONISM * Dislike of entanglement For over 140 years there were no US forces in Europe, and many American wanted to return to this independence from the Western Hemisphere. There was a sense that they needed to escape the corrupted Old World. Many also felt that involvement in WW1 had been a mistake they had been tricked into making by bankers and arms manufacturers. * Sense of self-sufficiency Many Americans were unaware of the complex nature of the American economy and how it relied on the rest of the world. They were happy in the thought that America could provide for America and not need to rely on anyone else. * Domestic priorities Successive Presidents had to follow public opinion and put their emphasis on home affairs. For example, Roosevelt stressed this nationalistic approach during the depression and in hindsight this is understandable intervention in trouble might have hindered the New Deal 2. THE LIMITS OF ISOLATIONSIM * Economic and cultural influences All around the world American influence was being felt in fashions customs. The rest of the world saw US movies, drove Ford cars and drank Coca-Cola. Economically, the USA helped bring stability to countries through investment * Independent internationalism In reality America was not truly isolationist. They did have contacts and dealings with Europe, Asia S.America, although they made no commitments in the international arena or accepted any limitations on their freedom of action. It was involved in a wide spectrum of affairs e.g. economic expansion, German reparations, naval land disarmaments and international efforts to promote peace. Herbert Hoover was the man who oversaw this policy. He saw that it was vital for America to have a world fit to trade with. 3. THE PRACTICE OF ISOLATIONISM IN EUROPE AND LATION AMERICA * Economic assistance to Europe The USA loaned money ($110 million) to Germany so they could pay their reparations, which were in turn given back to the Americans by GB and France as payments for war debts. German reparations were also reorganised in 1924 1929 by Charles Dawes and Owen Young. It was seen as being in the interests of America to rebuild Europes economies as they consumed over 60% of Americas exports * International peace agreements The Kellogg-Briand Pact (1928) was the brainchild of the US Sec of State and the French Foreign Minister. This was beneficial to the USA, as only war could remove Americas economic dominance in the world. * Good Neighbour policy This relates to Americas policy in Latin America. It was first coined by FDR, but the policy was active in the 1920s. In this area the USA was far from isolationist, intervening or having its forces in many countries (eg Haiti). These were the actions of a country that thought they knew what was best for its neighbour. One example of this is its support for right-wing regimes (Nicaragua, Cuba, Dominican republic) to keep out any left-wing influence in latin America, which might endanger their economic interests there. 4. FDR AND ISOLATIONISM 1933-38 * Little response to external aggression FDR was restricted in the 1930s to talking about ways in which the US could influence others to keep peace. In the end his peace plans, such as that offered in Jan 1938, were not thought through. FDR offered gestures and a posture of helplessness as the world drifted to war. * Tide of opinion in the 1930s Throughout the 1930s the mood of the country was still isolationist. FDR could not go against the sentiments of the public, nor could he go against the Isolationists in Congress, who he needed to pass his New Deal legislation. * Neutrality legislation Passed between 1935 1937, these were designed to prevent a repeat of the events of 1917 it said that the USA should not trade with any belligerents in times of war, nor should they provide loans. These tie FDRs hands and encouraged the aggressors. 5. THE END OF ISOLATIONISM * Preparation for war The ground work was already being made before Pearl Harbour for the US to enter the war on the side of the Allies. Co-operation with GB extended in 1941 with Anglo-American naval planning; the US navy occupied Greenland to build naval bases; the US marines were sent to Iceland to prevent a possible German invasion; US merchant ships were armed before Pearl Harbour in response to German U-boat attacks; US helped GB navy to pinpoint U-boat positions; the US possibly provoked the Japanese to attack Pearl Harbour. * Action rather than words to counter Japanese and German aggression American destroyers were swapped for leases of GB bases in the Western Hemisphere (Sept, 1940) and a conscription bill was agreed in the same month. In March 1941 the Lend Lease agreement was made this in realty was a declaration of economic warfare against the axis powers. * Continued strong opposition to American intervention in the Second World War After 1939, FDR was trying to educate the American public of the threat to US security if the Axis powers won, but isolationist feeling was still strong in July 1939. As well as the rejection of a proposed revision o the Neutrality laws, during most of 1940 1941, 80% of Americans opposed a declaration of war against the Axis powers, but did favour aid to victims of axis aggression.

Understanding the Ebola virus

Understanding the Ebola virus We have this belief that everything around us is not so dangerous. That animals the most dangerous part of them is the fact that they can bite you. There are strains and viruses that can kill you and not really realize it. Ebola is a deadly virus found in animals and passed on to humans. We can easily contract this virus from an animal without realizing it. It is not as contagious as most people may think but is very infectious. The common cold or measles are more likely to be contracted than the Ebola virus. As of 2014 we have had one of the largest outbreaks so far in recorded history. Research says that the virus mainly came from the handling of monkeys or chimpanzees. The Ebola virus was originally locates in Africa. In the United States there were only 4 cases found and 1 death reported. Liberia has the most recorded death rate @ 4,809. Sierra Leone has had the most recorded outbreak in history with numbers as high as 14,124 on record. Some say that the US government had something to do with the outbreak. Nothing is concrete as of yet. We are easily exposed to the virus because we deal with animals all the time. It can be transmitted from animal to human through bodily fluids and or blood secretion. Because so many animals are coming from other countries we cannot determine what animal may or may not be carrying the virus. There is another agency that is invoved as well as the CDC. They are called the WHO (The World Health Organization).ÂÂ   If Ebola is detected in a person the CDC will be contacted immediately. They may ask if you have traveled out of the country in the last 3 months and have been in contact with any animals. Personal information also may be asked as far as your sex life in the last three months. Ebola can be transmitted through sexual intercourse if you have the virus. You may not know if you have the virus because the symptoms are more like flu symptoms. It may take anywhere from 8-10 days after exposure for anything to appear. In some cases it has been detected as early as 2 days. The virus may last as long as twenty one days. Some symptoms may appear as simple as a headache, muscle pain, vomiting and even being tired. These symptoms may be mistaken for malaria. Ebola can be diagnosed with a simple blood test. The blood test will detect low platelets, elevated liver enzymes, and low and high white blood cell count if there is any detection of the Ebola virus. If there is any detection, a person would undergo isolation. This is where a person would be in a room that can be monitored closely until the virus is controlled. It is said for all workers to wear gowns, eye wear, mask, and all PPE available to you to reduce risk of exposure. The recovery time is at seven to fourteen days after exposure. The timeline for the a person who is not going to recover would be between six and sixteen days. There will be no signs of a person getting any better. The symptoms will get worse. There is no known cure or vaccination for the Ebola virus. If treated the virus may be controlled with medication to maintain blood pressure. A person may be given extra oxygen or iv fluids to keep you hydrated. There were two American missionaries that became infected and were given an experimental drug called ZMapp which seems to have worked. It has been said that chlorine, disinfectant, soap, and even detergents may kill the virus. As of today the virus is not known to be airborne. It can only be transmitted through direct fluids. There are many more experimental drugs but are very costly to bring forth. There are four strains of the Ebola virus that can be transmitted into humans. The best way for you not to get the virus is not to travel in any of the areas where the virus is located. References Lightsey, Ross F. Fighting Ebola: an interagency collaboration paradigm. Joint Force Quarterly, Apr. 2016, p. 62+. Academic OneFile, go.galegroup.com/ps/i.do?p=AONEsw=wu=lirn92264v=2.1id=GALE%7CA456758336it=rasid=282ffbb92ee8f927f987f7995b4aea43. Accessed 28 Mar. 2017. Lightsey, Ross F. Fighting Ebola: an interagency collaboration paradigm. Joint Force Quarterly, Apr. 2016, p. 62+. Academic OneFile, go.galegroup.com/ps/i.do?p=AONEsw=wu=lirn92264v=2.1id=GALE%7CA456758336it=rasid=282ffbb92ee8f927f987f7995b4aea43. Accessed 28 Mar. 2017. Lightsey, Ross F. Fighting Ebola: an interagency collaboration paradigm. Joint Force Quarterly, Apr. 2016, p. 62+. Academic OneFile, go.galegroup.com/ps/i.do?p=AONEsw=wu=lirn92264v=2.1id=GALE%7CA456758336it=rasid=282ffbb92ee8f927f987f7995b4aea43. Accessed 28 Mar. 2017. Bray M. Diagnosis and treatment of Ebola and Marburg hemorrhagic fever. http://www.uptodate.com/home. Acces

Essay on the Setting in Shakespeares The Tempest -- Tempest essays

Importance of Setting in The Tempest   Ã‚  Ã‚  Ã‚   Shakespeare’s enchanted island in The Tempest is a restorative pastoral setting, a place where ‘no man was his own’ and a place that offers endless possibilities to the people that arrive on it’s shores. Although the actual location of the island is not known, the worlds of Seneca aptly describe it’s significance to the play – it represents the ‘bounds of things, the remotest shores of the world’. On the boundary of reality, the island partakes of both the natural and supernatural both the imaginative and the real. It allows the exploration of both man’s potential and his limitations, his capacity for reform through art and his affinity for political and social realities. It is constructing this opposition between art and reality and in giving Shakespeare’s romance the freedom to explore mankind free from the concerns of everyday life that the setting of The Tempest is crucial to it’s overall dramatic design.    The only scene in the play that does not take place on the island is the opening tempest scene. It is in itself an important use of setting. It hints at the fact that the characters social assumptions will capitulate when exposed to adversity – we have the boatswain apparently inappropriately comment none aboard the ship that ‘I love more than myself’. In fact, quite the reverse is true. In the court scene we are presented with the characters Antonio and Sebastian who are interested in political gain despite the predicament in which they find themselves. In this respect the setting functions to present the idea that our social conditioning transcends time and place. The inference is that if political clambering can take place on an enchanted island in the middle of now... ...gic and music.    The contrast between the representative characters and the magic art of the island does not resolve itself, rather, it leaves the audience in what Russ McDonald called a â€Å"marginal condition between expectation and understanding, affirmation and skepticism, comedy and tragedy†. The setting functions to present the worlds of both art and reality in order to affirm the transcendent human desire for power and order, as well as affirm the world of art as a means of dealing with reality.    Bibliography/ Works Cited    Meller, A., Moon, G.T. Literary Shakespeare (1993) Sydney: Canon Publications    Lecture on â€Å"The Tempest† (1988)   C. Holmes    Shakespeare, W. The Tempest. Ed. Sutherland, J.R. (1990)    Mikhail M. Morozor, (1989)â€Å"The Individualization of Shakespeare’s Characters through Imagery†, Shakespeare Survey.

Talent Is Overrated

Charles Bobb ALS 101 Professor Jeffrey Levine December 2, 2009 Talent Is Overrated What Really Separates World- Class Performers from Everyone Else By. Geoff Colvin Senior Editor at Large, FORTUNE Talent Is Overrated† by Geoff Colvin is a motivating book that puts outstanding performance into view. It presents a solid case that great performance does not come primarily from innate talent, or even hard work, as is supposed by most people. The realistic value of the book comes from the practical function of the thesis. In talking about world class figure skaters, he said that top skaters work on the jumps they are worst at, whereas average skaters work on those they are already good at. In his words, â€Å"Landing on your butt twenty thousand times is where great performance comes from. † Each of those hard landings is able to teach a lesson. Those who learn the lesson can move on to the next hard lesson. Those who don’t pay the price and learn the lesson never progress beyond it. In other words, hard work and dedication is necessary but not sufficient in itself for developing higher level performance at any endeavor. All great performers get that way by working long and hard, but hard work and long hours obviously don’t make people great. Many people work long and hard and stay mediocre. The meat of the book describes what the author calls deliberate practice, and presents supporting evidence in a convincing manner. It matters what kind of practice, not just how long and how much sweat is spilled. Supportive on definition of innate talent Before considering evidence for and against the talent account, we should be as clear as possible about what is meant by â€Å"talent†. In everyday life people are rarely precise about what they mean by this term: users do not specify what form an innate talent takes or how it might exert its influence. Certain pitfalls have to be avoided in settling on a definition of talent. A very restrictive definition could make it impossible for any conceivable evidence to demonstrate talent. For example, some people believe that talent is based on an inborn ability that makes it certain that its possessor will excel. This criterion is too strong. At the other extreme, it would be possible to make the definition of talent so vague that its existence is trivially ensured; talent might imply no more than that those who reach high levels of achievement differ biologically from others in some undefined way. Yet those who believe that innate talent exists also assume that early signs of it can be used to predict future success. 1) There are many reports of children acquiring impressive skills very early in life, in the apparent absence of opportunities for the kinds of learning experiences that would normally be considered necessary. (2) Certain relatively rare capacities which could have an innate basis (e. g. , â€Å"perfect† pitch perception) appear to emerge spontaneously in a few children and may increase the likelihood of their excelling in music. (3) Biological c orrelates of certain skills and abilities have been reported. 4) Some especially compelling data comes from the case histories of autistic, mentally handicapped people classified as â€Å"idiot’s savants. † Practice makes perfect The best people in any field are those who devote the most hours to what the researchers call â€Å"deliberate practice. † Its activity that's explicitly intended to improve performance that reaches for objectives just beyond one’s level of competence provides feedback on results and involves high levels of repetition. For example: Simply hitting a bucket of balls is not deliberate practice, which is why most golfers don't get better. Hitting an eight-iron 300 times with a goal of leaving the ball within 20 feet of the pin 80 percent of the time, continually observing results and making appropriate adjustments, and doing that for hours every day – that's deliberate practice. Consistency is crucial. As Ericsson notes, â€Å"Elite performers in many diverse domains have been found to practice, on the average, roughly the same amount every day, including weekends. Evidence crosses a remarkable range of fields. In a study of 20-year-old violinists by Ericsson and colleagues, the best group (judged by conservatory teachers) averaged10, 000 hours of deliberate practice over their lives; the next-best averaged 7,500 hours; and the next, 5,000. It's the same story in surgery, insurance sales, and virtually every sport. More deliberate practice equals better performance. Tons of it equals great perf ormance. Tiger Woods is a textbook example of what the research shows. Because his father introduced him to golf at an extremely early age – 18 months – and encouraged him to practice intensively, Woods had racked up at least 15 years of practice by the time he became the youngest-ever winner of the U. S. Amateur Championship, at age 18. Also in line with the findings, he has never stopped trying to improve, devoting many hours a day to conditioning and practice, even remaking his swing twice because that's what it took to get even better. The business side The evidence, scientific as well as anecdotal, seems overwhelmingly in favor of deliberate practice as the source of great performance. Just one problem: How do you practice business? Many elements of business, in fact, are directly practicable. Presenting, negotiating, delivering evaluations, and deciphering financial statements – you can practice them all. , they aren't the essence of great managerial performance. That requires making judgments and decisions with imperfect information in an uncertain environment, interacting with people, seeking information – can you practice those things too? The first is going at any task with a new goal: Instead of merely trying to get it done, you aim to get better at it. Report writing involves finding information, analyzing it and presenting it – each an improbable skill. Chairing a board meeting requires understanding the company's strategy in the deepest way, forming a coherent view of coming market changes and setting a tone for the discussion. Anything that anyone does at work, from the most basic task to the most exalted, is an improbable skill. Why? For most people, work is hard enough without pushing even harder. Those extra steps are so difficult and painful they almost never get done. That's the way it must be. If great performance were easy, it wouldn't be rare. Which leads to possibly the deepest question about greatness? While experts understand an enormous amount about the behavior that produces great performance, they understand very little about where that behavior comes from. The authors of one study conclude, â€Å"We still do not know which factors encourage individuals to engage in deliberate practice. † Or as University of Michigan business school professor Noel Tichy puts it after 30 years of working with managers, â€Å"Some people are much more motivated than others, and that's the existential question I cannot answer – why. The critical reality is that we are not hostage to some naturally granted level of talent. We can make ourselves what we will. Strangely, that idea is not popular. People hate abandoning the notion that they would coast to fame and riches if they found their talent. But that view is tragically constraining, because when they hit life's inevitable bumps in the road, they conclude that they just aren't gifted and give up. Maybe we can't expect most people to achieve greatness. It's just too demanding. But the striking, liberating news is that greatness isn't reserved for a preordained few. It is available to you and to everyone. A Mnemonic System for Digit Span: One Year Later. (2002) | * Chase, William G. , * Ericsson, K. Anders| Abstract| With 18 months of practice on the digit-span task, a single subject has shown a steady improvement from 7 digits to 70 digits, and there is no evidence that performance will approach an asymptote. Continuous improvement in performance is accompanied by refinements in the subject's mnemonic system and hierarchical organization of his retrieval system. (Author). Presented at the Annual Meeting of the Psychonomic Society, (20th), Phoenix, AZ, 8-10 Nov 79. | Talent without deliberate practice is latent† and agrees with Darrell Royal that â€Å"potential† means â€Å"you ain't done it yet. † In other words, there would be no great performances in any field (e. g. business, theatre, dance, symphonic music, athletics, science, mathematics, entertainment, exploration) without those who have, through deliberate practice developed the requisite abilities Colvin duly acknowledges that deliberate practice â€Å"is a large concept, nd to say that it explains everything would be simplistic and reductive. † Colvin goes on to say, â€Å"Critical questions immediately present themselves: What exactly needs to be practiced? Precisely how? Which specific skills or other assets must be acquired? The research has revealed answers that generalize quite well across a wide range of fields. Talent is overrated if it is perceived to be t he most important factor. It isn't. In fact, talent does not exist unless and until it is developed†¦ nd the only way to develop it is (you guessed it) with deliberate practice. Colvin commits sufficient attention to identifying the core components of great performance but focuses most of his narrative to explaining how almost anyone can improve her or his own performance. He reveals himself to be both an empiricist as he shares what he has observed and experienced and a pragmatist who is curious to know what works, what doesn't, and why. I also appreciate Colvin's repudiation of the most common misconceptions about the various dimensions of talent. For example, that â€Å"is innate; you're born with it, and if you're not born with it, you can't acquire it. † Many people still believe that Mozart was born with so much talent that he required very little (if any) development. In fact, according to Alex Ross, â€Å"Mozart became Mozart by working furiously hard† as did all others discussed, including Jack Welch, David Ogilvy, Warren Buffett, Robert Rubin, Jerry Rice, Chris Rock, and Benjamin Franklin. Some were prodigies but most were late-bloomers and each followed a significantly different process of development. About all they shared in common is their commitment to continuous self-improvement through deliberate practice. Colvin provides a wealth of research-driven information that he has rigorously examined and he also draws upon his own extensive and direct experience with all manner of organizations and their C-level executives. Throughout his narrative, with great skill, he sustains a personal rapport with his reader. It is therefore appropriate that, in the final chapter, he invokes direct address and poses a series of questions. What would cause you to do the enormous work necessary to be a top-performing CEO, Wall Street trader, jazz, pianist, courtroom lawyer, or anything else? Would anything? The answer depends on your answers to two basic questions: What do you really want? And what do you really believe? What you want – really want – is fundamental because deliberate practice is a heavy investment. † Corbin has provided all the evidence anyone needs to answer t hose two questions that, in fact, serve as a challenge. It occurs to me that, however different they may be in almost all other respects, athletes such as Cynthia Cooper, Roger Federer, Michael Jordan, Jackie Joyner-Kersee, Lorena Ochoa, Candace Parker, Michael Phelps, Vijay Singh, and Tiger Woods â€Å"make it look so easy† in competition because their preparation is so focused, rigorous, and thorough. Obviously, they do not win every game, match, tournament, etc. Colvin's point (and I agree) is that all great performers â€Å"make it look so easy† because of their commitment to deliberate practice, often for several years before their first victory. In fact, Colvin cites a â€Å"ten-year rule† widely endorsed in chess circles (attributed to Herbert Simon and William Chase) that â€Å"no one seemed to reach the top ranks of chess players without a decade or so of intensive study, and some required much more time. † The same could also be said of â€Å"overnight sensations† who struggled for years to prepare for their â€Å"big break† on Broadway or in Hollywood. | The book adds a few paragraphs or two to the Jack Welch entry in the annals of business history. Neutron Jack† kept people from getting too comfortable, once explaining that it wasn't 100,000 General Electric (GE) employees he eliminated, it was 100,000 GE positions. His radioactive personality aside, Welch had remarkable success grooming top corporate leaders. The equity value of companies run by Welch's proteges – including GE, 3M, Home Depot and Honeywell – may well exceed some national budgets, so it is interesting to learn what qualities Welch encouraged as a mentor. Welch's â€Å"4E's† of leadership help explain how he generated so much value over the years for his grateful shareholders. Krames extracts leadership ideas from Welch's track record and makes them quick and handy. Although the book is more useful than original, we find that the articulation of the 4E's, and the profiles of Welch's proteges make it a solid addition to any business library. Colvin leaves no doubt that by understanding how a few become great, anyone can become better†¦ and that includes his reader. This reader is now convinced that talent is a process that â€Å"grows,† not a pre-determined set of skills. Also, that deliberates practice â€Å"hurts but it works. † Long ago, Henry Ford said, â€Å"Whether you think you can or think you can't, you're right. † It would be â€Å"tragically constraining,† Colvin asserts, for anyone to lack sufficient self-confidence because â€Å"what the evidence shouts most loudly is striking, liberating news: That great performance is not reserved for a preordained few. It is available to you and to everyone. â€Å"

Advantages and Disadvantages of Real Gdp

London School of Commerce Belgrade A Critical Analysis Of Real GDP Subject: Managerial EconomicsMentor:Student: Maja Paunovic Mirko Lazarevic Belgrade 2013 TABLE OF CONTENTS1. EXECUTIVE SUMMARY3 INTRODUCTION2. ADVANTAGES OF REAL GDP43. LIMITATIONS AND SHORTCOMINGS OF REAL GDP4 3. 1 RENEWABLE FINITE RESOURCE5 3. 2 OLD AND CHILD CARE5 3. 3 UNDERGROUND ECONOMY5 3. 4 UNEMPLOYMENT6 3. 5 THE INFLATION RATE6 3. 6 POLUTTION7 3. 7 LEISURE7 3. 8 POPULATION7 3. 9 INEQUALITY OF WEALTH7 4. CONCLUSION8 REFERENCES9 1. Executive summaryThe gross domestic indicator (GDP) is one of the main indicators used to measure the health of a country’s economy. GDP represents the sum of all goods produces over a specific period of time or in other words it is the size of the economy. Usually, GDP is compared to the previous quarter or year. As an example, if a yearly measurement was taken and the GDP went up 3%, this means that the economy has grown by 3% over the last year. Measuring GDP can be complicated, the calculation can be done in one of three ways: the product method, the income method and the expenditure method.The fi rst method of measuring GDP is to sum up the value of all goods and services produced in the country. Basically, we focus on firms and add up all their production. This method is known as the product method. The second approach is the income method which is focused on the incomes generated from the production of goods and services. When we look back, we will see that this is the same as the sum of all values added at each stage of production. The added value is basically the difference between a firm’s income from sales and the cost of its purchases from other firms.The difference is made up of wages and salaries, rent, interest and profit. Basically, it consists of the incomes produced by those involved in the production process. The final approach to calculating GDP is to add up all expenditure on final output. Which includes the following: consumer expenditure, government expenditure, investment expenditure, exports of goods and services and imports of goods and services. This final method is called the expenditure method. 1 Introduction Economic production and growth, what GDP represents, has a huge impact on nearly everyone within that economy.In order to analyze the health of an economy or examine economic growth, it’s necessary to have a way to measure the size of an economy. Economists usually measure the size of an economy by the amount of stuff it produces. When GDP is calculated in relation to the population of a country this is known as the average GDP per capita. This is often used as an indicator of a country’s standard of living. When calculating GDP international incomes are not included, even those earned by domestic workers in other countries. However, as a measure of the standard of living in a country, GDP has its limitations and shortcomings. . Advantages of real GDP You can use GDP to examine all economies of the world, from the USA to Somalia. No matter if a country is churning out fishing equipment or cars, all of i ts products have a certain monetary value, which added up gives a universally recognized measure. This measure is especially helpful if you consider how different economies around the world are in terms of the goods and services they produce, and the way they reinvest their income – pay back debts or invest in industry sectors. GDP is dynamic; it changes constantly based on new figures on productivity, consumption and investments.Therefore, economists and decision makers can use GDP to measure an economy’s growth or decline. However, they can only do that provided they have an established and accurate mechanism to measure GDP value regularly; without that, they don’t have any data to compare whether present activity is worth more or less than in the past. By removing inflation, real GDP allows economists to make more accurate comparisons between countries and across multiple years. Multinational corporations use real GDP when deciding where to send their investm ent dollars or headquarter their operations. National governments use real GDP to set currency exchange rate targets and evaluate the effectiveness of economic policy by comparing one year’s real GDP data against other years. Central banks put significant weight on real GDP data when determining interest rates and other fiscal policy. Real GDP is also used to compute economic growth, known as the GDP growth rate. This is calculated by comparing each quarter to the previous one. If real GDP were not used, then you wouldn’t know whether it was real growth, or just price and wage increases.The ideal GDP growth rate is between 2-3%. The GDP growth rate is critical for investors to adjust the asset location in their portfolios. Investors also compare countries’ GDP growth rates – countries with strong growth attract more investors for their corporate stocks, bonds and even their own sovereign debt.3. Limitations and shortcoming of real GDP GDP per capita is not a direct increase of living standards and qu ality of life in a country, so policies aimed at maximizing GDP may be seen as ill conceived. This is due to many reasons, including;3.1 Renewable finite resource: Most of country may grow rapidly by exploiting their non-renewable finite resources such as oil and forests. They may also over- exploit resources which renew slowly, such as fish and wildlife. While current living standards may be high, those of future generations may be jeopardized. Therefore, GDP is unable to act as an indicator of future welfare. For example; the fishing industry in Europe is currently facing many problems as a result of over fishing in the past. This has had a significant impact on the GDP of European countries.GDP measures the total value of output produced, but it cannot distinguish between the effects of different types of output on living standards. For example; two countries have the same GDP per capita, but country A has a well-funded education and health system, whereas country B has a well-eq uipped army. It is obvious that country A will have higher living standards than country B, but this is not apparent from their GDP figures.3. 2 Old and Child Care: If you care for your parents when they're old and enfeebled, it doesn't contribute to GDP, but if you pay someone else to care for them, it does contribute.The same goes for childcare and mental illness. The act of caring for the permanently sick, however compassionate that may be, is a use of resources for no tangible gain. Therefore, it does not contribute to GDP' For these reasons, some people prefer to use other indicator to measure a country's standard of living. These social indicators take non-economic factors into account, such as literacy rate, and life expectancy. Some examples are the physical quality of life index (PQLI), the Human Development Index (HDI), and the Basic Well-being Index (BWI).3. 3 Underground economy: Oliver (2006) in his book ‘Macroeconomics' states about the underground economy as fol lows: ‘Underground economy is the part of economic activity not measured in official statistics, either because the activity is illegal, or because firms and workers would rather not report it to avoid paying taxes – is an old issue in Spain'. (p 45) Black market: Michael & Charles (1993) describes that everybody wants to take advantage of a carpenter's, car mechanics, or painter's, offer to do some work without a receipt.Agents engage in the black, or underground, economy for straight-forward reasons. First, they want to avoid taxes (the value added tax, employment and social security charges, profit taxes). Another reason is that criminal activities, such as drug dealing, prostitution, or racketeering, are obviously better kept underground. (p24) Different countries may have different sizes of informal/ ‘black' economy (e. g. crime, subsistence farming, drug dealer, and bartering and cash payments) and this is not taken into account by those who calculate GDP.GD P will therefore underestimate the actual value of output. For example; Russia has a very large black economy, so its relatively small GDP is a poor indicator of actual income and living standards. (Source: John Sloman, 2006, 6th ed,)3. 4 Unemployment: Oliver (2006) states that unemployment is the number of people who do not have job but are looking for one. It directly effects on the welfare of the unemployed. Although unemployment benefits are greater today than they were during the great Depression, unemployment is still often associated with financial and psychological suffering. It is not the question how much suffering depends on the nature of the unemployment. Real GDP is failure to measure unemployment of a country.3. 5 The Inflation Rate: Oliver (2006) states that ‘Inflation is a sustained rise in the general level of prices in the economy-called the price level. The inflation rate is the rate at which the price level increases. (Conversely, deflation is a sustained d ecline in the price level. It corresponds to a negative inflation rate)'. If the price level increase nothing happened for the rich people but something happened for the poor people. As example, some Asian Country there GDP is high, price of goods is also high, and the rich people can easily buy the goods because there income is high. But poor people which income is low they can't buy the goods. The real GDP mean per people per capital so real GDP can't measure the inflation rate which mean Standard of living.3. 6 Pollution: Environment is very important part of Standard of living. But this important part is polluted in many ways. Industry is produce lot of product. On the other hand, at the same time industry is throwing wastage or rubbish, smoke and useless chemicals.It is polluting environment by motor and vehicles which making sound and air pollution. Climate change is a big factor for standard of living. Power station and chemical plant which cause global warm and for that reas on why some countries like Maldives and south part of Bangladesh going down under water. Also High GDP per capita might be accompanied by high levels of pollution and exploitation of the workforce, thus causing a decrease in living standards which is not reflected in GDP figures. Therefore, GDP may overestimate living standards in a country. Here real GDP can't measure Standard of living. (Source: John Sloman, 2006)3. 7 Leisure: Leisure is important for every age. By growing GDP people going to be like machineries. People are all time busy for their earning money to build up their life. They don't have time for entertainment like cinema, game; party also there is not enough leisure centers where people can go easily. When people not involved with recreation to have proper leisure, it is not even mentionable whether the current GDP is high or low in the country. So, real GDP fails to measure the Standard of living.3. 8 Population: Population is a big impact of standard of living. Mos t of third world county has been suffering of this problem (Bangladesh, India, and Pakistan). If the population increase GDP automatic decrease as a result standard of living of county go down. Real GDP cannot solve the countrymen problem.3. 9 Inequality wealth: GDP per capita is not an indicator of the distribution of wealth, because when GDP increases, this extra wealth may be received by only a small section of society with the rest of society even worse off. For example; the GDP of oil producing countries like Saudi Arabia is very high, but the wealth is only shared among a small minority of citizens, while the majority of citizens living relative poverty. (John Sloman, 2006) GDP can only measure the material standard of living, without taking into account the quality of life as perceived by each individual, which cannot be standardized across a population or countries. Let’s take USA and France for example.The USA had a GDP per capita of USD 46, 900 in 2008 (http://www. indexmundi. om/united_states/gdp_per_capita_(ppp). html) while France had 45, 982 (http://www. indexmundi. com/france/gdp_per_capita_(ppp). html). Not a big difference, France trails by a little. Now let’s consider how well are people in each country – In the happy planet index, France ranks 71 while the USA ranks 114, just below Madagascar. People in France are much happier than people in the USA. They have better and free healthcare, free education and so on. Besides these two countries Costa Rica has a GDP much lower than both (http://www. ndexmundi. com/costa_rica/gdp_per_capita_(ppp). html) but its people are considered to be the happiest in the world. Some countries, even though they have low GDP’s, its people are better off. Countries that one rarely hears of have very good life expectancies like in Andorra, Cayman Islands, and so on. (http://www. happyplanetindex. org/data/).4. Conclusion GDP discusses how economists measure the total growth of a nation. At this point it is important to know about how the GDP is doing in the change of standard life style.It is already assumed that real GDP shows the total amount of growth in value in specific year. Economist can predict what to achieve and what is the difference in achievement by the end of the year. As we have seen that real GDP is countable by the value, it is easy to know for any people to predict what further contribution needed in the country. But whatever the economist prediction is, the economic factors should be remain same. Without the economic factors stability, the total development of the country is not possible.References:1.John Sloman & Dean Garratt (2010), Essentials of Economics, 5th Edition, Prentice Hall. (Pages259-267)2. (John Sloman. 6th edn , 2006).3. Oliver Blanchard (2006), ‘Macroeconomics, 4th Edition, New Jersey: Prentice Hall.4. Michael Burda & Charles Nyplosz (1993), Introduction to Macroeconomics, 1st Edition. Oxford University Press.5. http://www. indexmundi. com/united_states/gdp_per_capita_(ppp). html6. http://www. indexmundi. com/france/gdp_per_capita_(ppp). html7. http://www. indexmundi. com/costa_rica/gdp_per_capita_(ppp). html 8. http://www. happyplanetindex. org/data/

Famous People Of The Civil War Essays - American Slaves, Free Essays

Famous People Of The Civil War Essays - American Slaves, Free Essays Famous People of the Civil War Ullysses S. Grant Ulysses Simpson Grant served effectively with Zachary Taylor's army at Monterey during the Mexican war. Right when the war began Grant obtained a position on the staff of General George McClellan. During the war he showed courage in both physically and morally manners. In February 1862 Grant captured Fort Henry and Fort Donelson with help from the Federal navy. In October he was appointed commander of the Department of Tennessee, and told to take Vicksburg, Mississippi. Earl Van Dorn captured Grant's base at Holly Springs and he had to retreat. In 1864 Grant was promoted to lieutenant general and named general in chief of all federal armies. In April 1865 Grant forced Lee to surrender after an 88 mile pursuit. Grant was elected president in 1868 and served two terms. Robert E. Lee During the Mexican war Lee was an engineering officer with Winfield Scott's force. Jefferson Davis appointed Lee a general in the southern army in 1861. He was not successful in preventing an invasion of western Virginia, so he was sent to the Atlantic Coastal defense. In 1862 when Joseph E. Johnston was wounded, Lee became commander of the confederate army in Virginia. In Richmond Lee drove the unionist away from the capital in the Seven Days' Battles. In August he defeated the Northern army in the second Battle of Bull Run. In May 1863 Lee won his greatest victory but also suffered his worst loss in life. The Unionist were driven back with heavy casualties. The following year Lee led his army against a series of bloody attacks against the Northern Army commanded by Ulysses S. Grant. Robert Lee was one of the best commanders during the Civil War and was an American hero. Stonewall Jackson Stonewall Jackson was a confederate general in the American Civil War. He joined the Confederate army in 1861 and later fought in the first battle of Bull Run. There he earned his nickname, "like a stone wall". In 1863 Jackson commanded a Confederate army in the Shenandoah Valley, and he defeated Federal generals whose strength was several times his own. In May of 1863 Jackson was in command of more than half of all the Confederate army and made an attack on the Federal army. After returning one night he was accidentally shot by some of his own men. J.E.B. Stuart James Ewell Brown Stuart was a Confederate officer in the Civil War. He is probably the most famous soldier in Robert E. Lee's Army. In the Gettysburg campaign, Stuart went on a controversial raid around the Federal army when Lee most needed him to gather intelligence. He arrived after the Battle of Gettysburg was over. A number of people think that the Confederate defeat was mainly Stuart's fault. On May 11, 1864 Stuart was badly wounded. He died the next day. Joseph Hooker Hooker was named a general in 1861 an was known as fighting Joe. During the Mexican War he received three brevets for bravery. He commanded the army of the Potomac at the Battle of Chancellorsville, he lost and was replaced before Gettysburg. In November 1863 he won the Battle of Lookout Mountain at Chattanooga. In 1864 Hooker served under William Sherman in Georgia. He resigned because he wasn't promoted after he served in Georgia. George E. Pickett George Pickett was a Confederate general during the Civil War. He is most remembered for Pickett's charge at the Battle of Gettysburg. Pickett graduated from West Point in 1846 and remained in the U.S. Army until 1861, when he joined the Confederate army. On July 3, 1863 he led his troops on a spearhead attack on Cemetery Ridge that was supposed to break through the center of the union line. This has been called the Confederacy's "high-water mark". Harriet Tubman Harriet Tubman was an abolitionist and a fugitive slave. She was born to slave parents and escaped to freedom. In the 1850's she made many journeys to free slaves through the Underground Railroad. She was aided by abolitionists and Quakers, and John Brown who consulted with her for the Harpers Ferry raid in 1859. During the Civil War she served as an army cook, a nurse, and became a spy for Maryland and Virginia. After the war she

Google Case Essay Example

Google Case Essay Example Google Case Essay Google Case Essay What were the key factors behind Googles early success? Thanks to the Corporate Values, Google became a very successful company In the world. Googles integrally In providing search result helps Google to succeed. There is great potential revenue can be generated from their search service. However Google corporate value Dont be evil refuses to compromise the integrity of search results. The quality search result is important to secure users usability of search engine and the confidence in Google. Googles emphasis on technologies helps Google to excel its competitors. Google lives Technology matters and invested heavily In the infrastructure that supported lightning-fast returns on search queries. Providing accurate results wealth a shorter time Is the primary task of a search engine and It Is not an easy task. Google did well in this and it becomes one of the key competitive advantages of Google products. Google s diverse businesses contribute to its success significantly. Since its PIP, Google had launched a flurry of products that expanded its domain beyond web search. After 2000, the IT market is growing at a very fast speed and lots of Leeds are untouched. : Google provide its products to an Immature market so that It can capture a large market share, With Its strength In technologies, Google can ensure the quality of product and service to keep its competitiveness in the various markets. Google is innovative and adopted unconventional approaches for managing innovation. Some innovative products may require longer development time. Google is willing to invest in promising long shots and Google believe they can be high- reward projects. Do you expect the search business to become more concentrated? Is search a winner-take-all business? Most of revenue is generated with Googles search business and related products. Lots of its products like Google Decadence and Google Analytics relies on the search business. So focusing on search business seems critical to Google future and I expect the search business to become more concentrated. In the next few years, people will be overwhelmed by Information on the Internet and people will Increase their reliance on search engine to provide them desirable results. Google Is the leading search engine provider and dominates the market. Google can potentially gain more revenue if it is the single player in the market. In addition, Google is experienced in providing search service and concentrate on providing search service is less risky than expanding to other market. The network effect can be applied here as well. With the focusing on search service, Google can gain more users and cumulate more knowledge about user preference and searching behaviors. With the knowledge, Google can enhance Its search service and acquire more users. The search service has great potential to become winner-take-all business. Facts about market share of search service providers tell winner-take-all business is possible. Google shares the great market in the world. Being and Yahoo share a very insignificant market in the world. We may pick another example like China; Baud Is the largest player in the searching service market without the participation of Google. Providing quality-searching service has high entry barrier boundaries, so that it can serve every segment of market. There is no significant UN- tap market for other search engine providers to enter. In addition, the network effect n search market is quite strong, when more users user the service, the search providers are able to gather more information and provide better search results. In addition to enhancing its core search business, should Google also branch out into new arenas? Which of the following would you recommend: 1) Building a full-fledged portal like Yahoo! s; Not recommended. Although there is demand for full-fledged portal like Yahoo! , the demand is not increasing significantly. There are already 2 big players in the portal business, namely Yahoo! And MANS. Due to high market commonality and high sources similarities, Google should not compete head to head with them. ) Targeting Microsofts desktop software hegemony; and/or Recommended. With the extensions functionalities of Google Chrome, Google stepped into desktop software industry already. With the help of notification center of ass and windows system, various Google products can bring similar experience via Google Chrome. In addition, there is some UN-tapped market. Google can extent search service to desktop search, migrate the online Google Doc to desktop, provide support to development of open resource initiatives like open office and provide interfaces compatible with Linux users. ) Becoming an e-commerce intermediary like eBay? Not recommended. EBay and Amazon are two big players in the market. The rivalry is already quite intensive. Becoming another big player in the market not only requires Google to deal with products suppliers but also the delivery service. Both of them are labor-intensive tasks and Google has litter experience with it. There are other specialized new entrants entering the market to gain the market niche and customers have high bargaining power due to information transparency. So the industry is not very attracting. Do you view Googles distinctive governance structure, corporate culture, and organizational processes as strengths or potential limitations? Googles distinctive governance structure, corporate culture and organizational processes are a great strength of the company. Google is attracting the best talents from all over the world. These talents look forwards to Join Google because of the flat governance structure and corporate culture. Their potentials can be best explored at Google. Googles corporate structure encourages creativity among heir staff, which leads to employee satisfaction and a low employee turnover rate. Googles organizational processes ensure sufficient freedom to its employees to test new technologies, new business models, new products, new ideas etc. This is very essential for company to put innovation into actions. In addition, the Company is administered by the expounders and the Chief Executive Officer. Both of them are concerning the long-term growth of Google instead of short-term gain. This facilitates the restoration of confidence of its investors and clients.

Assignment Essay Essay Example for Free

Assignment Essay Essay Sustainable tourism is being able to the deliver positive environmental, social, and economical results with thought to the needs of the visitors, host community and surroundings. Sustainability as defined in the Brundtland commission report it states as â€Å"meeting the needs of the present without compromising the needs of the future generations to meet their needs†. For example, the small business are starting to practices sustainability principles by changing to renewable energy sources, reducing use of paper and recycling more. As a result, the concept of sustainability addresses the aspects of â€Å"triple bottom line† meaning the balance of societies, economy and the environment are described by (Bonevac, 2010). According to the World Tourism Organization, â€Å"sustainable tourism means meeting the needs of the present tourist and host regions while protecting and enhancing the opportunity for the future†. Instead of just being a product, sustainable tourism is a philosophy that underpins all tourism actions (Owens, Is there a Meaningful Definition of Sustainability? , 2003). To all tourism development and management, it is a fundamental concept instead of being an add-on factor. The foremost aim of sustainable tourism is to maintain the economic and social return of tourism development while reducing or justifying the unattractive impacts on the natural, historic, cultural or social environment (Governemnt, 2009). The stated objectives attained by matching the needs of tourists with those of the destination. Sustainable tourism is an industry, which challenges to make a little impact on the environment and the local culture, though helping to produce income, employment and the preservation of local ecology. Hence, responsible tourism is both cost-effectively and culturally responsive, meaning have minimum impact on the environment and culture of the host community (Group, 2007). Scotland Tourism Organization has defined sustainable tourism as â€Å"tourism committed to generating a low impact on the surrounding environment and community by acting responsibly while generating income and employment for the local economy and aiding social cohesion† (Organisation v. s. , 2013). Scotland Sustainable tourism aspires to guarantee that economic development in terms of encouraging experience for each one involved local community, Tourism Companies and visitors. In practice, sustainable tourism means greener transport, given that transport is innermost to tourism; however it also put pressure on our natural resources and contributes to our worldwide environment impacts. Procedures like cheering visitors to utilize communal transport, and advance in cleaner forms of transport will assist in this area (Organisation v. . , 2013). Regular and environmental strains a more even stretch of visitors lessens pressures on the natural and built environment and on communities, and capitalizes on the financial payback. Scotland Tourism Organization modifies its advertising drive to persuade a stretch of visitors throughout the year and around state (Organisation v. s. , 2013). For example, â€Å"surprise yourself†. There is necessary to work with the public, private and independent sectors to determine the environmental and social impacts of tourism. These guarantees that tourism expansion carries a encouraging experience for home people, tourism companies and the tourist themselves (Organisation v. s. , 2013). Green accommodation is one in that all room offers lessens their misuse, energy and water use. The green Tourism Business Scheme persuades businesses to trim down their environmental impacts. The scheme is one of the largest of its land in Europe with over 800 Scottish members (Organisation v. s. , 2013). However, any tourism industry can take advantage from flattering more sustainable through safeguarding the very features on which tourism depends; taking a sustainable move to tourism expansion is the only way to guarantee long-term tourism expansion in the South Pacific (Organisation v. s. , 2013). The success of tourism in any country depends on taking care of the environmental or social impacts of tourism development. The visitors benefit from sustainable move to tourism throughout from enhanced relates with local communities, a tall value tourism experiences and a natural and fabricated environment. Thus, by fetching a sustainable tourism destination will provide the South Pacific Tourism Businesses a cutthroat frame by producing community assistance for tourism; attaining value savings and designing innovative marketing prospect. As the tourism industry develop in as many regions and countries, it generates noteworthy impact on the consumption pattern, natural resources, pollution and social systems (Organisation v. s. , 2013). For the industry to survive as a whole it is vital to understand and interpret the need sustainable and responsible planning and management. To begin with, education and collaborative partnership are approaches that can assist destinations attain more sustainable tourism. The whole idea of sustainability based on the association through environmental, ecologically and socially responsible tourism. Partnerships with local communities through rural community gathering before and during development are needed in order to let alone the frequent divergence between conservation initiatives and traditional resources users (Billington, Carter, & Kayamba, 2008). The departments from the government can collaborate with the resource owners to develops and negotiate over the investment on proposal (English National Park Authorities Association, 2009). For example, the Chumbe Island Coral Park is a good example of collaborate partnership, which was developed to sustain the natural beauty and attractions of the island (English National Park Authorities Association, 2009). Chumbe Island is located in the Indian Ocean channel of the coast of the semi autonomous region of Zanzibar (English National Park Authorities Association, 2009). The person responsible for the project on the natural park at Chumbe Island was (David, 2011). During her work life, (David, 2011) experience the need for the conservation and sustaining of the natural flora and fauna. (David, 2011) developed an innovative approach to protect marine conservation combined with tourism development through the sustainable and multilevel partnership approach to promote successful marine park management, awareness of marine conservation and sustainable tourism management. David, 2011) Develop a small marine park that would help consume a unspoiled coral reef, offer environmental education for both the locals and the foreign visitors and generate management fund through authentic ecotourism. Thus, the need for the park at Chumbe Island arose due to improper aid and the government in the country noted conservation programs. Hence, the collaborative partnership arose to sustain the nature conservation of Tanzania for the future (English National Park Authori ties Association, 2009). Secondly, the partnership approach deals with the local communities because they are the essential people who are the resource owners (Governemnt, 2009). Engaging the local community in the environmental education on sustainability through workshops and seminars will increase their concerns for the global issues such as climate change (Clark, 2013). In addition, collaboration with NGO has to hold workshops with the angler’s, to engage them in sustainable fishing practices and conservation of the resources (David, 2011). Thus, the young and the old generation in the area is to be informed about sustainable fishing practices, laws and regulation regarding fishing practices and marine conservation area and the benefits of marine protected areas (Ki-Hoon & Ball, 2003). All this environmental awareness, education and training initiative with the community are to provide skill development on sustainable tourism (Group, 2007). The scale of growth of the tourism industry In the South Pacific is rapidly and that the environmental and social, economic impacts of it cannot be overlooked (Azam & Sarker, 2011). This has caused the Pacific Region to find ways in which the industries could be made more sustainable. The industry is more sustainable through minimizing resource use and waste production (Othman, 2004). For the sustainability of tourism, water is the major issue for concern. For example, a tourist in a hotels uses on standard one third of more water per day than a local inhabitant uses and put severe restriction on local supply (Othman, 2004). Activities such as golf course, artificial snow ski’ resorts are in demand of water. For small and medium sized business, sustainability thought of an expensive and difficult idea (Billington, Carter, & Kayamba, 2008). Most of the dominating tourism industries in the South Pacific have not actively engaged in government activities that encourages that adoption of sustainability practices (David, 2011). There are a number of barriers identified by the researchers that hinds implementing sustainability practices in South Pacific tourism businesses including the financial crisis for implementation, the labor insecurity of being certified, lack of government and industry support the technical nature of information forums. Hence are a number of actions businesses could undertake to improve environmental performance (Azam & Sarker, 2011). Activities’ relating to efficient resources use and waste management includes minimizing energy consumption, for example using open ventilation instead of air-conditioning and heaters encouraging the use of renewable sources and improved technology also Getting involved in accreditation programs (Owens, Is there a Meaningful Definition of Sustainability? 2003). There is a need to promote and facilitate the reduction, reuse and recycling of materials and water quality including the efficient treatment of sewerage, avoiding discharge into marine and rivers (Organisation, 2005). For example, in Australia the Australian formula 1 ING grand Prix Corporation, which works with environmental packaging and waste recycling partner to minimize the impact of the race on the environment? Billington, Carter, & Kayamba, 2008) Thus, by minimizing waste use, energy use and waste production, businesses can reduce their impact on the environment and achieve cost savings (Ki-Hoon & Ball, 2003). Furthermore, the conserving and giving value to natural and cultural heritage is of critical importance’s, in order to enhance the quality of life of local communities through tourism, and connect the people in is scheduling and management (Organisation, 2005). The growing awareness’s and generating direct and indirect support for conservation is the key role played by the tourism industry (Group, 2007). The generation of economic propensity for the tourism industry is to provide with quality natural and cultural heritage (Azam & Sarker, 2011). This would ensure the long-term competitiveness, viability and the prosperity of tourism enterprises and destinations and the quality of life of local communities and to the visitor experience by providing a safe, satisfying and fulfilling experience to the visitors available to all without discrimination by gender, race, religion, disability or in other ways (Organisation, 2005). Areas that are of importance to tourism natural and cultural includes the natural landscapes quality and variety, man-made cultural landscapes, heritage and historic sites, the flora and fauna diversity, local uniqueness such as art, crafts, cuisine, language events and festivals (Organisation, 2005). Thus, to address these issues listed above relevant action like being more prepared to use the tourism argument as to fund the prevention of nature and culture and to prevent damaging change (Clark, 2013). Also strengthening the relationship between protected area and local tourism interest, within the context of a sustainable tourism strategy and action plan would lead the South Pacific to be more sustainable (Organisation v. s. , 2013). Sustainable development is holistic in nature; therefore, it requires management of policies and coordination of action between sectors (Othman, 2004). To control the impact of tourism initiated by environmental or developmental strategies and policies legislation and regulations are necessary (Governemnt, 2009). Appropriate strategies or sets of policies for specific aspects of tourism were developed. For example, in Bulgaria the separate strategy for ecotourism, which reflects the sustainability principles? (Bonevac, 2010) This initiative can also be taken by the local Ministry of Environment of Tourism to integrate the strategy in terms of regulations (David, 2011). In coordinating and ensuring success of this specific sub-sector, such regulations and legislations can be very helpful. This can be very helpful in demonstrating processes and formulating policies that could be modified more widely in tourism (Ki-Hoon & Ball, 2003). Strategy and policies must be developed and implemented at both local and national level in order to achieve effective result. Most countries in the South Pacific are in the process of decentralizing their political and administrative structures so local decision-making is the vital aspect toward sustainability development (English National Park Authorities Association, 2009). An integrated approach to the development and management of tourism is within local destinations, is recognized as the most successful direction to sustainable tourism (Governemnt, 2009). Thus, it is vital for the national and local strategies to be corresponding but these two variable in tourism strategies vary in terms of national tourism strategies relates to the national tourism vision of the overall position and direction (Organisation v. s. , 2013). While local tourism strategies relates to the holistic of the local destinations in areas such as local objectives and priorities, local resource opportunity and constraints and many more (David, 2011). Hence, the identifying of policies and instruments to create the enabling environment for sustainable tourism is more of national strategy while the determining of what happens on ground is more of local strategies (Governemnt, 2009). Both the national and local tourism strategies are required for sustainable tourism to embrace the principles of sustainable development and both strategies are reliable and commonly reinforcing (Othman, 2004). Finally, the command control instrument allows government to exert strict control over certain aspects of development and operation, backed by legislation (Organisation, 2005). Legislation, regulation and licensing are the interdependent tools that can be used to strengthen sustainability by setting out requirements that are compulsory and enforceable and which lead to sanctions and penalties if they not met (Billington, Carter, & Kayamba, 2008). The process of checking and signaling compliance with regulations or otherwise identified obligatory standards; assigning permission to operate is called licensing (Organisation, 2005). To control aspects of business development and operations and to influence people’s behavior government are in a position to apply laws, regulations and penalties. These legislation and regulations must be applied when the governments believes that it is necessary to do so (Governemnt, 2009). Thus, for regulations to be successful, it has to be relevant, clear, practicable in terms of compliance and capable of being enforced. In order the tourism industry to be more sustainable the laws and legislations should enable and support the sustainability of tourism and give authority to act (Billington, Carter, & Kayamba, 2008). It should also seek to raise sustainability performance above such standards through other means, which would also stimulate personal commitment towards continual improvement. For example, in the government of Fiji builds up a (EIA) environmental Impact Assessment regulation, which stated that for any company or hotel with an EIA reports in Fiji, has to provide the Fiji Government with an EIA report of the development to progress (Turnbull, 2003). There are a number of areas in which laws and regulations can be implemented to attain more sustainable tourism industry and that includes operation, management and development which are controlled by this legislation to protect the environment, communities, culture and heritage, visitor experience and the business as a whole (Turnbull, 2003). The purpose of government intervention in the sector as law provides a vehicle for underpinning sustainability. These legislations can also provide the basis for enabling the control and licensing of activities specific to the tourism sector and for the undertaking to certain action to support tourism development (Organisation v. s. , 2013). To conclude, sustainable tourism is all about forecasting of long-term, working together examining on results and adaptive to change and the most effective thing is communication to put across the message of sustainable tourism. It is the duty of the private, public and independent sector to acquire leadership role in tackle the challenge of this sector. The degree at which the tourism industry is increasing in the South Pacific forecasts that the environmental and social impacts of tourism cannot be disregarded. Traditionally, a number of sustainable tourism activities has been carried out and is supported by the national Tourism Organization of the South Pacific countries. However, there are a number of challenges that still stay alive and need attention in order to be more sustainable tourism industry, like climate change. In order to tackle these challenges and grip future sustainable opportunities in a harmonized manner, research and development done in these South Pacific countries to handle these issues through sustainable tourism strategy plan. The tourism strategies plans would assist the tourism industry to change unenthusiastic community discernment of the industry and achieve economic benefits through sustainable practices. It believed that it would egg on business to hold sustainable tourism practices in order to meet consumers demand and to improve business performance. Sustainable tourism should be broadcasted and celebrated amongst tourists, host communities and the participants in the industry move the industry toward sustainability. Nevertheless, the commitment to change and improve must be authentic and supported on well-established procedures and actions that is to be achieved. Assignment Essay. (2016, Sep 09).

Speech Essay Example | Topics and Well Written Essays - 1500 words - 1

Speech - Essay Example This is a very significant reason for which expats are crowding in Kuwait. Oil is the main source of the country’s GDP. Almost 50% of the total GDP is contributed by oil. Oil accounts for more than 90% of total revenue of the economy. Therefore expats are expected to find jobs in the oil sector. The present political situation in Kuwait can be called as a constitutional monarchy which can cause a threat for the expats. The purpose of the speech is to show the listeners that the present situation in Kuwait for the expats is not good as it was previously. The majority of the foreign workers are generally attracted by the huge potential of the oil industry in Kuwait. Apart from the oil industry other different sectors like sales, marketing, and jewelry industry is also booming and attracting many expats from different parts of the world. Different local companies and multinational companies are recruiting expats. In spite of being an attractive destination for finding jobs, recent trends are saying that numbers of expatriates are decreasing in the country. Kuwaiti Government has taken a serious initiative for reducing numbers of expats from the country. Young citizens of Kuwait are getting very good educations and increasing education qualities are positioning local people in to top level management of different organizations. Government of Kuwait has taken the initiative in a very strict manner. Current situations of expats in the country are like a horror movie. Deputy Director of General Public authority has issued a notice giving direction to the labor department that to issue of work permits for expats have to be done very selectively. In the current situation different employers are warned very seriously not to recruit marginal workers from foreign countries. It is often being noticed that different organizations in the country recruit expats for the sake of supplying them to other employers. Government of Kuwait is imposing strict ban on

FedEx's HR Essay Example | Topics and Well Written Essays - 500 words

FedEx's HR - Essay Example The FedEx Team integrates a range of technological solutions, Management Information Systems, and leadership ideas to deliver quality services by maintenance of cohesion in its team and monitoring of performance levels. Use of innovative technology begins right with the collection of the shipments. FedEx ® Ship Manager Software gives a unique track record of the shipment from collection to delivery. The software also helps the company in risk mitigation during transit. FedEx Compatible Solutions Program gives, the customer, flexible shipping options linked with time and cost. White Glove Services ® and FedEx Custom Critical also provide customer specific deliverables. The company’s intellectual properties are owned, operated and protected by its IT division. The increased focus on quality deliverances go hand in hand with strengthening of the company’s human resource infrastructure. FedEx allows strategic decision making at all levels and has a well-oiled system to monitor its implementation by managing the upward, downward and lateral flow of information. Four business divisions of FedEx are integrated by a centralised IT system that has an annual budget of $1.5 Billion. 7 Habits ® training module keeps the IT team in a dynamic improvement of key skills mode. The company used the exclusive FXTV and IP multi-cast technology to keep the employees, worldwide, abreast of a change management initiative. The training curriculum in FedEx, the Leadership Evaluation and Awareness Process (LEAP) carried out in-house at Leadership Institute moulds employees into middle rung managers, sometimes catapulting them to the top echelons of the company. An Internet based program helps the employees to look up and seek company wide promotion oppo rtunities available. This doesn’t exclude company’s policy to take into its ambit, at any level, HR talent from outside. Creativity, aptitude, and to undertake

Discussing Theodore Roosevelt's views of American Nationalism and Research Paper

Discussing Theodore Roosevelt's views of American Nationalism and Imperialism - Research Paper Example By the nineteenth century, it was almost impossible to interchange the concepts of nationalism and racism. Enlightenment ideals heightened on nationalism and imperialism regardless of the emphasis on the equality and liberty of men as well as the cosmopolitan aspirations. Following the French Revolution, the republican government tries to unify all the French-speaking nations making them a single rule. This led to an aggressive campaign by the military in the Low Nations. Italian liberals on the other hand hoped to have a unified nation that would be under the Italians only and not a jumbled combination of foreign and domestic monarchs. Come the nineteenth century, there was no accord that the different species of mankind shared a common origin and that there worth was not equal. Most nations and leaders believed on the biological superiority of what was referred to as the Caucasian race and this was common with the Germanic peoples who seemed to be justified by the global colonial e mpires rise headed by the European countries. It is in the wake of this situation that this paper looks at the position taken by Theodore Roosevelt on imperialism and nationalism. Theodore Roosevelt’s came to power at a time when most of nations had adopted nationalistic and imperialistic modes as they tried to gain more territories and come up with the best military. This situation strengthened the desire of Theodore Roosevelt to construct the American race so that it becomes one that is full of ambitious, brave and hardworking men. To come up with such a race, Theodore Roosevelt’s remained open to mixing races as he believed that by mixing different races, he will be able to have men who had superior qualities than those men who were pure. Despite this position, Theodore Roosevelt also believed that there were some groups of people who he viewed as better representations of this race. He was in favor of people from the European descent as he excluded the Asians and A frican American considering them as being inferior. Some of his actions and speeches contrasted this position on race. He strongly believed and promised that people from different races were welcome and that they had the same rights as the rest of the American citizens. Early life Experience Theodore Roosevelt came from a tradition that revered the Protestant ethic, the middle class Americans. In his early childhood, he learned the ethic of the Bible and was introduced to social consciousness now that his father happened to be an avid philanthropy practitioner as well as a social worker who believed in putting in action what the Bible preached. His concern with regards to the poor was that the legislative form in pursuing to lessen the distress resulting from a new industrial and urban society. This take is evident in his progressive stance while he was serving as a New York’s Governor as well as the President. This showed that Theodore Roosevelt attitude was reverent and he pursued the highest Christian virtue ideals and opted to implement his own faith in assisting others and helping to come up with a better world. Theodore Roosevelt’s involvement in religion in his early life was that of works. His early Christianity life was behind his means to live a good life and this led to his ruling to emphasize on moral and good life. This remained to be an overriding passion in the faith of Theodore

Reflective Report includee 2 tasks M Essay Example | Topics and Well Written Essays - 1750 words

Reflective Report includee 2 tasks M - Essay Example My expectation from UK was to find and acquire quality education applicable in the current global job market. I also expected to combine work and study in order to finance my personal needs, acquire valuable work experience as well as improve my professional network. I have learned how to live in a multicultural environment since I came to the UK even though there were a lot of challenges in adapting to the life in UK. I have also become a more sociable and confident person from interacting with individuals from diverse backgrounds. I have been exposed to different experiences and cultures of which I wouldn’t have if I was not in the UK. Before I came to the UK I was very shy unlike now. It was not easy for me to make major decision all by myself but the experience here has made me more independent. Among the things I have learnt at Greenwich is how to combine both the theoretical and practical aspects of my studies in real life situations. This has been very helpful to me sin ce theory doesn’t always aid one in getting a placement, an internship or a job. Given that English is not my first language, communication proved quite an uphill task for me at first but I eventually had to learn how to use it fluently. I have learnt to improve my English by wide range of educative books such as those which target international student learning English. This was very useful in the beginning since English in such books is written in a manner that is somewhat simplified. This made it easy for me to learn and understand English. I also sharpened my skills by frequently watching English TV episodes. This made learning more fun. I also engaged in discussions with my fellow student. This improved my communication skills since I can now confidently express myself in English. Since I started learning at the Greenwich University, my study skills have greatly improved. I have learnt to always prepare for my classes at the most appropriate time. For classes that involv e recitation, I spend time making questions regarding previous recitation, brushing up on the facts I have and try to memorize them. In the case of lecture classes I make sure I review my notes and organize them appropriately. I have also come to learn to study at the time when I feel fresh and vibrant. In my case, early morning hours are my favorite. In the night times, I am usually tired making reading at such a time is ineffective. Since I work and study at the same time, I believe I have excellent employability skills. I am therefore in a good position to get a full-time job in my home country after I graduate. I was also able to make professional contacts back at my home country through networking skills I acquired here in the UK. My communication skills will enable be work efficiently with people from various regions while at my home country. The knowledge which I have acquired at Greenwich University is of high standards and globally recognized. This will help me climb my car eer ladders faster while back at home. I am very delighted to be studying and working in the United Kingdom since I have gained a lot in terms of knowledge and experience. TASK 2 Reflection on Research Preparation The process of preparing for my research was quite interesting. This is because of what I learnt and the challenges which I faced. To begin with, I did not know where to start from since I had not thought of an area in which I

The origin, growth and development of Japanese art and culture Term Paper

The origin, growth and development of Japanese art and culture - Term Paper Example Most of the Asian fashion designs might seem to be imitations of the European styles, but this is not the case in actual sense. On the other hand, it would be absurd to ignore the impact that the Western countries have had on the East. In the entire development period which was most vibrant during the twentieth century, aesthetics and other methods where gotten from the European countries and many Asians where proud to recognize the efforts of Western countries. As the poet Tekkan once mentioned, â€Å"We love the poetry of our predecessors, who are both from the West and the East† (Arrowsmith, 2011, p.28). The beginning of the Metropolitan Court Culture By the occurrence of the Heian period, which was between 794-1185, the Japanese governing system was not fully transformed. During this period, power in Japan had been transferred to the emperor and his ministers. The quasi-independent aristocracy was now changed to the metropolitan elite that comprised of the rituals, intrigu es, history and the imperial courts. The most fundamental happening during this revolution was the adoption of the Chinese cultures and civilization. In 618, a dynasty known as Tang was established and it reigned for almost 300 years. During this period, most of the Chinese cultures acquired their flowering and maturity. ... These styles were unique, and an example is the three dimensionality and realism by the use of models in visual arts. In no time, the art designs and models came to be known as Tang International Styles (Mason, 2005, p.41). The Art of Buddhism Buddhism is one of the earliest arts that were established in China. By the mid years of the fifth century, Koguryo and Paekche, which were all Korean kingdoms, had adopted the art of Buddhism. Silla also adopted the art during the same period as the Korean kingdoms. During the Tang, just as the other Chinese dynasties, the Buddhism community played a vital role in the general affairs of the nations that adopted it. With well located monasteries and temples, the Chinese empire was inhabited by the Buddhist community that managed to make the Tang emperor the most supreme authority on the planet. In an artistic view, the Buddhist community can be said to be the richest, as arts lead to wealth and influence. As the Tang International Style is stil l embraced and praised in the four corners of the earth, its originality is reflected on the surviving paintings and sculptures of the Buddhists (Mason, 2005, p.41). The Paekche embassies, including that of 584 and 552, were unable to introduce Buddhism to Japan. However, they managed to attract the attention of Prince Shotoku who was a champion of the Buddhist cause. By 587, Buddhism had gained control in the Japanese Imperial government and was in fact a crucial foothold. In less than a century, the art has spread and was now in Yamato itself, under the regimes of Tenmu the emperor and Jito the empress who was Tenmu’s successor. Jito officially advocated Buddhism as one of the vital instruments in the

Discussing Theodore Roosevelt's views of American Nationalism and Research Paper

Discussing Theodore Roosevelt's views of American Nationalism and Imperialism - Research Paper Example By the nineteenth century, it was almost impossible to interchange the concepts of nationalism and racism. Enlightenment ideals heightened on nationalism and imperialism regardless of the emphasis on the equality and liberty of men as well as the cosmopolitan aspirations. Following the French Revolution, the republican government tries to unify all the French-speaking nations making them a single rule. This led to an aggressive campaign by the military in the Low Nations. Italian liberals on the other hand hoped to have a unified nation that would be under the Italians only and not a jumbled combination of foreign and domestic monarchs. Come the nineteenth century, there was no accord that the different species of mankind shared a common origin and that there worth was not equal. Most nations and leaders believed on the biological superiority of what was referred to as the Caucasian race and this was common with the Germanic peoples who seemed to be justified by the global colonial e mpires rise headed by the European countries. It is in the wake of this situation that this paper looks at the position taken by Theodore Roosevelt on imperialism and nationalism. Theodore Roosevelt’s came to power at a time when most of nations had adopted nationalistic and imperialistic modes as they tried to gain more territories and come up with the best military. This situation strengthened the desire of Theodore Roosevelt to construct the American race so that it becomes one that is full of ambitious, brave and hardworking men. To come up with such a race, Theodore Roosevelt’s remained open to mixing races as he believed that by mixing different races, he will be able to have men who had superior qualities than those men who were pure. Despite this position, Theodore Roosevelt also believed that there were some groups of people who he viewed as better representations of this race. He was in favor of people from the European descent as he excluded the Asians and A frican American considering them as being inferior. Some of his actions and speeches contrasted this position on race. He strongly believed and promised that people from different races were welcome and that they had the same rights as the rest of the American citizens. Early life Experience Theodore Roosevelt came from a tradition that revered the Protestant ethic, the middle class Americans. In his early childhood, he learned the ethic of the Bible and was introduced to social consciousness now that his father happened to be an avid philanthropy practitioner as well as a social worker who believed in putting in action what the Bible preached. His concern with regards to the poor was that the legislative form in pursuing to lessen the distress resulting from a new industrial and urban society. This take is evident in his progressive stance while he was serving as a New York’s Governor as well as the President. This showed that Theodore Roosevelt attitude was reverent and he pursued the highest Christian virtue ideals and opted to implement his own faith in assisting others and helping to come up with a better world. Theodore Roosevelt’s involvement in religion in his early life was that of works. His early Christianity life was behind his means to live a good life and this led to his ruling to emphasize on moral and good life. This remained to be an overriding passion in the faith of Theodore

The origin, growth and development of Japanese art and culture Term Paper

The origin, growth and development of Japanese art and culture - Term Paper Example Most of the Asian fashion designs might seem to be imitations of the European styles, but this is not the case in actual sense. On the other hand, it would be absurd to ignore the impact that the Western countries have had on the East. In the entire development period which was most vibrant during the twentieth century, aesthetics and other methods where gotten from the European countries and many Asians where proud to recognize the efforts of Western countries. As the poet Tekkan once mentioned, â€Å"We love the poetry of our predecessors, who are both from the West and the East† (Arrowsmith, 2011, p.28). The beginning of the Metropolitan Court Culture By the occurrence of the Heian period, which was between 794-1185, the Japanese governing system was not fully transformed. During this period, power in Japan had been transferred to the emperor and his ministers. The quasi-independent aristocracy was now changed to the metropolitan elite that comprised of the rituals, intrigu es, history and the imperial courts. The most fundamental happening during this revolution was the adoption of the Chinese cultures and civilization. In 618, a dynasty known as Tang was established and it reigned for almost 300 years. During this period, most of the Chinese cultures acquired their flowering and maturity. ... These styles were unique, and an example is the three dimensionality and realism by the use of models in visual arts. In no time, the art designs and models came to be known as Tang International Styles (Mason, 2005, p.41). The Art of Buddhism Buddhism is one of the earliest arts that were established in China. By the mid years of the fifth century, Koguryo and Paekche, which were all Korean kingdoms, had adopted the art of Buddhism. Silla also adopted the art during the same period as the Korean kingdoms. During the Tang, just as the other Chinese dynasties, the Buddhism community played a vital role in the general affairs of the nations that adopted it. With well located monasteries and temples, the Chinese empire was inhabited by the Buddhist community that managed to make the Tang emperor the most supreme authority on the planet. In an artistic view, the Buddhist community can be said to be the richest, as arts lead to wealth and influence. As the Tang International Style is stil l embraced and praised in the four corners of the earth, its originality is reflected on the surviving paintings and sculptures of the Buddhists (Mason, 2005, p.41). The Paekche embassies, including that of 584 and 552, were unable to introduce Buddhism to Japan. However, they managed to attract the attention of Prince Shotoku who was a champion of the Buddhist cause. By 587, Buddhism had gained control in the Japanese Imperial government and was in fact a crucial foothold. In less than a century, the art has spread and was now in Yamato itself, under the regimes of Tenmu the emperor and Jito the empress who was Tenmu’s successor. Jito officially advocated Buddhism as one of the vital instruments in the

Financial Markets Assignment Essay Example for Free

Financial Markets Assignment Essay Explain how interest rates decline following major Fed purchases of mortgage-backed securities. The FED implements quantitative easing by buying financial assets of longer maturity, e. g. , mortgage-backed securities, from commercial banks and other private institutions in order to inject a pre-determined quantity of money into the economy. This is a means of stimulating the economy and lowering longer-term interest rates further out on the yield curve; quantitative easing increases the excess reserves of the banks, and raises the prices of the financial assets bought, which lowers their yield. Graphically, this can be explained with the aid of Figure below. The supply of money is shifted from point 1 to the right (MS1 to MS2) and, all else equal, the new equilibrium point (with aggregate money demand curve) is at point 2, where the interest rate is lower. i i1 i2 AD1 MS1 MS2 Quantity of Money 2. What could be the implications of lower interest rates for households and businesses? By implanting the policy of purchasing mortgage-backed securities, the FED has set its sight on increasing consumption and investment, which will ultimately increase employment. As described in question one Bernanke’s policy decreased interest rates to new record lows, encouraging borrowing for both businesses and households. The ability to borrow money at more attractive rates stimulates investment in durable consumer goods, such as automobiles, and in operational necessities such as buildings and capital equipment for businesses. Indeed, after the implementation of the policy mortgage applications increased significantly. Because of low interest rates households and businesses as investors could shift their preference away from bonds and into stocks. According to frbsf. org, the increase in stock trading volume has the effect of raising the value of existing stock portfolios, which in turn stimulates consumer and spending across the country due to the psychological effects of rapid capital appreciation. Lower interest rates can have negative effects on the value of the local currency compared to other currencies. As foreign investors dump their local-denominated investments in favor of more profitable currencies, exchange rates can shift to the detriment of the local currency. The weakening of the local currency serves to increase the attractiveness of local goods to foreign purchasers, which has the effect of boosting exports and international sales. All of the factors mentioned above have the combined effect of increasing productive output, or GDP, and increasing employment across a wide range of industries. As individuals, businesses and foreign investors are encouraged to spend more due to increased access to capital, higher portfolio valuations and weaker currency values, businesses in nearly every sector experience an increase in sales, often requiring them to grow their operations and employ additional labor. However, there are some negative implications from this policy. Without a strong commitment to control inflation over the long run, the risk of higher inflation is one potential implication of experiencing real interest rates below the economy’s natural interest rate. Low interest rates provide a powerful incentive to spend rather than save. In the short term, this may not matter much, but over a longer period, low interest rates penalize savers and those who rely heavily on interest income. If short-term interest rates are low relatively to long-term rates, households and firms may overinvest in long-term assets, such as Treasury securities. If interest rates rise unexpectedly, the value of those assets will fall (bond prices and yields move in opposite directions), exposing investors to substantial losses. Finally, low short-term interest rates reduce the profitability of money market funds, which are key providers of short-term credit for many (large) firms, e. g. the commercial paper market. 3. Explain the Fed’s policy dilemma and try to rationalize why unemployment in the US is stubbornly high while inflation is low. Based on the theory of the Philip’s curve diagram we notice that there is an inverse relationship between inflation and unemployment. Stated simply the lower the unemployment in an economy the higher the rate of inflation. Philip’s Curve Inflation Unemployment The explanation of the inverse relationship between inflation and unemployment is based on two assumptions. The first has to do with the fact that as unemployment rises there is no room for workers and labor unions to demand an increase so a wage inflation that would increase the prices of the final products cannot occur. Secondly high unemployment is a reflection of the decline in economic output and indicates an economy’s slowdown. Therefore competition among firms in recession will lead the prices at lower levels. But this is not the case currently in the US since we observe high unemployment and low inflation. The FED is concerned about the unemployment rate and in an effort to stimulate the economy and improve the labor market conditions it started implementing the quantitative easing policy. So the FED purchased MBS, helped banks to rebuilt their balance sheets, contributed into maintaining price stability, preserved interest rates near zero for more than three years, and prevented the economy from slipping into greater recession. Despite all these efforts the situation in the labor market did not improve. Apparently the fact that unemployment is still very high depicts the limitations of the monetary policy. The low business confidence, policy uncertainty, and the government’s reluctance to act are beyond the FED’s capacity. What is more the infinite use of the quantitative easing may produce undesirable effects in the long run such as stagflation. The only optimal solution under these circumstances is the co ordination of the FED’s monetary policy with the government’s fiscal policy plan that could boost the society’s confidence. . Do you think that another round of quantitative easing (QE) by the Fed would help stimulate the US economy? Please explain. The FED declared that the use of QE will be aggressively continued until the economy is improved. The cash injections into the economy helped interest rates to remain at low levels. Consequently everyone wins from this decision in the short run; homeowners can borrow at historical low levels of inter est rate, corporations can also take advantage of this act and invest, consumption increased and also the banks increased their profits and the stocks record a growth. So as long as the QE is active in the short run everyone is a winner. But in the long run things become vague. First of all historical evidence shows that despite the fact that interest rates may be at levels near zero it remains uncertain whether this will be the incentive to boost the actual economy. Secondly the fact that consumers will have more money to spend but fewer goods to buy might lead to a hyper inflation. Furthermore by repeating the use of QE is very possible to lead to a liquidity trap, unless the economy finds ways to stimulate production. Last but not least the FED’s decision to inject cash into the economy by purchasing MBS is questionable; Mortgage backed securities entail the risk of defaulting once again as they did in the real estate crisis and that would cost the Americans a lot more money repeating the history that started back in the September of 2001. To sum up the use of QE is indeed very effective but only in the short run. Short periods of economic recession can be avoided by stimulating the economy temporarily through cash injections but to maintain growth on the real economy we need to improve labor market conditions, productivity, innovation and bolster the economy’s confidence. So a combination of fiscal and monetary policy is the only way to prevent an economy from collapsing, and also is this is the only way to avoid a possible systemic risk that will negatively affect all the institutions and individuals. . How is a loose Fed monetary policy in the US affecting fundamentals (such as inflation, asset and commodity prices) in other countries? What does that imply about global monetary policy? Since the dollar is the vehicle currency in the global economy almost every country is tied to its value and everyone is affected by the monetary decisions of the FED. By the QE, the supply of dollars is increased and consequently the dollar depreciates against foreign currencies. This means that America’s exports will increase and on the contrary the imports will decrease. So countries trading with the US fear about the capital inflows and the possible inflation on commodities. On the other hand the FED support that there can be no further inflation since the global economy is in recession. Moreover countries experiencing huge capital inflows resulting in inflation can implement fiscal policy, such as imposing taxes, in order to contain the effects of foreign capital inflows which push up local stock prices and the currency itself. Every country should focus on its own monetary policy adjusting it to the problems that may experience. For example the US chose to inject more money in the economy. The results of such a decision are low interest rates, more exports but always with the risk of inflation. On the other hand a country experiencing high inflation might limit the money supply, increasing the interest rates with the risk of experiencing a decline in exports.