...| Has Market Economy approach led the world to the current economic situation? | | | | By:Divya Padmanabhan IES Management College and Research Centre Mumbai, India | Executive summary: “If war is God’s way of teaching geography to the world, recession is His way of teaching everyone a little economics”. The global financial crisis has questioned the efficacy of the existing institutional framework and forced us to rethink on how our financial systems are regulated. It has also posed an important question whether the root cause of this global crisis has been the highly praised ‘Open Market Approach’. The inter linkages in the global economy has ensured that no country remains isolated and unhindered by the crisis. With the economic crisis looming over the people at large, unemployment seems to be at all time high and the whole world having a pessimistic view of the future, capitalism seems to be at loss of reason for this crisis, let alone a find solution for it. There was a time when being a capitalist economy was a matter of pride and people were excited to be part of the “free” economy but somewhere down the line the excitement seemed to have vanished. What was thought to be an epitome of equality, turned out to be the cause of inequality. In an article by Joseph E. Stiglitz “Of the 1%, By the 1%, For the 1%”, 1 percent of the people in USA take nearly a quarter of the nation’s...
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...Current State of the Economy Our economy has been in a recession for the past few years, but looking into the key indicators for our economy one can see that small glimmer of light shining from the end of the tunnel. The key indicators as mentioned above include: the current Gross Domestic Product (GDP), whether the economy is expanding or contracting, the unemployment rates, the credit card rates, the U.S. Prime Rate, and inflation. These key indicators may give one that glimpse of hope that maybe; just maybe our economy is gaining better ground. Gross Domestic Product (GDP) To have a full understanding of our expanding economy one must first understand the Gross Domestic Product (GDP). The GDP is one of numerous national income and output measures. The GDP represents 24.35 percent of the world economy; this is reported by The World Bank Group. As of 2011 the National GDP was found to be worth 15094 billion US dollars. There are three ways to define the GDP and gain identical results (Trading Economics, 2012). Defines the GDP First, the GDP, within a specified period of time, will be equal to the total of goods and services produced. Second, the GDP will be equal to the sum of the value of production. Third, the GDP is equal to the sum of the income generated by production (Trading Economics, 2012). Expansion Our economy is currently expanding but has yet to be found in recovery mode. When the level of GDP lies below the peak of the previous expansions is when...
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...With the recent government shutdown and the fiscal cliff debate over, many Americans are stepping back and asking “what is the current state of the economy?” Although the nation has been experiencing growth and a decrease in unemployment for the past three years, the national annual deficit of $1.1 trillion and the recent fiscal cliff debate along with the government shutdown reflect the nation’s struggle with furthering our economic growth and stability. According to the Bureau of Economic Analysis and the Bureau of Labor Statistics, GDP increased 1.1% in the first quarter of 2013 and 2.5% in the second quarter mainly due to an increase in business investments and goods exports and imports. What we can expect in the next few years is a slow and steady increase in the growth rate. However, many seem skeptical if the increase will be notable to say the least. Like GDP, unemployment has been on a steady decline for the past three years. The unemployment rate dropped from 7.8% in December 2012 to 7.3% in August 2013. This reports that there is an increase in job creations. However, what is more notable is that there is a higher increase in part-time jobs as opposed to full-time jobs, which leaves a bad taste for many because there is no certainty and sense of security. Household debt continues to decline in most categories like credit card debt. Yet consumers continue to remain cautious with a slowdown in consumer spending and spending for goods and services. If this trend continues...
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...“Analyse the current government’s argument that the nature of jobs created within an economy dictate the degree of success rather than the amount of jobs”. 1. Introduction The Irish economy has changed greatly in the last Forty years. An educated workforce and Urbanisation of our towns and cities has seen an industry shift. There are a number of important factors that allowed this to happen so quickly. Ireland’s membership of alliances such as the E.U. and the O.E.C.D and the directives that were incurred as a result of these memberships. More recently in the Nineties the economy had enjoyed a period of prosperity which was generally accredited to the provision of subsidies to knowledge based industries such as I.T., Financial Sectors and Research & Development. This coupled with a desirable location and a new highly educated workforce. As stated in the department of finances report in 2011 the economy experienced imbalances due to bad auditing systems in the banking and building sectors. “The Irish economy was transformed over the past two decades. Per capita income rose strongly, converging towards and subsequently overtaking European average levels. However, from the early part of the last decade, imbalances began to emerge which made the economy increasingly vulnerable. A major property bubble began to unwind from 2007, and the fall-out from this was exacerbated by the major deterioration in the external environment...
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...Executive Summary Over the past decade, Ohio has wavered from either the 7th or 8th largest economy amongst the states according to GDP. On the positive side, Ohio has maintained a lower cost of doing business than most, if not all, of its neighbors. Ohio is centrally located with many major manufacturing facilities in the United States. Secondly, the state of Ohio has the lowest tax rate on new capital investment in the Midwest and the third lowest in the U.S. for most of the last decade. Negatively speaking, the heavy reliance on manufacturing related employment is not going to be good, long-term. There will continue to be limited gains in service jobs due to slow population growth. Combine that with the elevated level of out migration and Ohio is going to be dealing with a smaller population percentage. The outlook for Ohio is mild at best. Total employment is expected to increase 9.3 percent over the 3-5 years, resulting in over 489,000 jobs. Personal income should also see an uptick of around 3.5 percent for the next year. As far as employment goes, the number of jobs will continue to be a problem, especially amongst neighboring states. Total employment is still 2 percent below the prerecession peak. It is also very important to look at home price growth as well. It has slowed down of recent, and growth over the next year is only expected to be between 2-3%. Ohio’s recovery has accelerated over the past few quarters, but it still trails the Midwest and nationwide averages...
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...In the current competitive world, its only who is fit survives i.e. person who work will complete dedication and with immense concentration is almost certain to achieve his or her desired target. Now question arises what’s the motivation behind being workaholics? People who are in business or in service or even government employees have some or the other motivation to work. Business houses wants to work in order to achieve better sales and net profit compared to the last years, with the help of various planning and implementing the same. Person in service works to achieve sales target or the weekly or monthly reports targets in order to get better variables and incentives. Government employee work to help in the development of economy, by making various committees for infrastructure development, social development etc. In the current economic situation companies survives only if it has right entrepreneur. Entrepreneur makes the plans by his innovative thinking and plan is executed with the help of his or her employees. Employees in return get incentive along with fixed salary and entrepreneur gets better profit. One thing in common in all of them is vision, thus they become workaholic to achieve that piece of success which they ever dreamt off. More the person works, more he is near to achieve his or her target. Targets can either be net profit for businessman, sales target or monthly reports target of service man or development of economy and society for politician or government...
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...AWC Inc., is an aluminum manufacturing company located in Southwestern Ontario. The company has been around since 1950, and was founded by Mr. Jim MacDonald, father of the current president Mr. Alex MacDonald. AWC specializes in the fabrication of aluminum windows, doors, storefronts, and curtain wall products. AWC has 100 committed staff with 45 in production, and 55 in the offices. The company is well known for the high quality of it�s products and their competitive prices. AWC Inc. is facing a decision regarding air treatment in the welding portion of the plant, as new government regulations are introduced to the industry. Currently there is a recession in the construction industry, and it is projected to last another three years. Buying the air cleaning equipment would devastate the companies profits and cash flows. Fines are ever-present, however highly unlikely. The air cleansing equipment is between $240,000 and $400,000. SWOT analysis of the current issue Strengths with respect to the current issue are. - Quality design and competitive prices. - Popularity of the new aluminum doors. - Extremely committed employees. - Experienced and family owned (since 1950). - Not located where neighbors would complain ( near cement quarry). Weaknesses of AWC Inc. with regard to the issue are. - no current ventilation systems. - Alex MacDonald has limited experience (1 year running company). - Limited money to spend due to 3% profit margins on normal contracts. - Contemplating...
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... (123) 456-7890 Changes in Store Operations and Employee Work Schedules- But Keeping the Doors Open Dear Managers: In the effort to combat the rising gas prices, to save money on store operation, and to keep the doors open, store hours and work schedules will change. Beginning September 15, 2010, The Retail Clothing Chain will no longer be open on Sundays. The new business operating hours will be from 10:00 a.m. to 7:00 p.m. Monday through Saturday. All managers and full-time employees will begin working four 10-hour days a week. Part-time employees’ schedules will be consolidated to a one, two, or three-day workweek depending on current work schedules. With the current economy The Retail Clothing Chain will not be opening any new stores at this time. We will continue the efforts to keep our current stores open without...
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...In the current competitive world, its only who is fit survives i.e. person who work will complete dedication and with immense concentration is almost certain to achieve his or her desired target. Now question arises what’s the motivation behind being workaholics? People who are in business or in service or even government employees have some or the other motivation to work. Business houses wants to work in order to achieve better sales and net profit compared to the last years, with the help of various planning and implementing the same. Person in service works to achieve sales target or the weekly or monthly reports targets in order to get better variables and incentives. Government employee work to help in the development of economy, by making various committees for infrastructure development, social development etc. In the current economic situation companies survives only if it has right entrepreneur. Entrepreneur makes the plans by his innovative thinking and plan is executed with the help of his or her employees. Employees in return get incentive along with fixed salary and entrepreneur gets better profit. One thing in common in all of them is vision, thus they become workaholic to achieve that piece of success which they ever dreamt off. More the person works, more he is near to achieve his or her target. Targets can either be net profit for businessman, sales target or monthly reports target of service man or development of economy and society for politician or government...
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...tremendous potential to be ambassadors for change and lead meaningful action. What is the best way to educate, engage and empower youth to bring about positive change in the world? The best way to educate, engage and empower youth to bring positive change in the world is to sensitize them to real life scenarios such as cases, involvement in political discussions or debates and to make them participate in the world's current state in different disciplines such as economy, politics and social-cultural aspects. To achieve this through change, students must be able to lead others with meaningful actions using their creativity, charisma, and their sense of leadership to be able to resolve and help find solutions that senior employees have trouble figuring out. On the same note, student must have an open mind and be able to grow as individuals to become better people and to have the skills necessary to perform at their best in the "real" world. This being said, they must have the proper tools to develop their thinking skills and to comprehend the logistic of the current world we live in. So, to be able to have all the necessary skills, the best way to learn is on the field with other people who already have the experience and the knowledge of positive change. In other words, students should be formed correctly and partake in others in different projects and work to learn from other's mistakes and their success. Classes in universities or colleges would be recommended as they could learn...
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... 1. The bank can apply expert knowledge to estimate distribution functions 2. Reflect the Level of operational risk: adjustment on the result of the scorecard 3. Identify the Source of Operational risk: This will help in specifically what part of the product or business lines and which units causes operational risk 4. Present causes of operational risk: management can take actions on what the operational scorecard shows which will help mitigate operational risk 5. Reflect on quality of operations: the operational risk level of a bank depends on the quality level. Changes on operational level can help reduce current risk by improving quality of operations. 6. Supplement information: information is really vital and it will help for the bank to pinpoint which contributes to its current operational risk. 7. Adjust on the current level of operational risk: this will allow for the management to set its priorities. Source: Anders, U., & Sandstedt, M. (2001). An Operational Risk Scorecard Approach.Operational Risk, 1, 47. Retrieved April 14, 2013, from...
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...Point In Time No additional ACOE districts should be brought online to Escape OL5 software. The current districts on Escape OL5 in Alameda County remain in an implementation phase expectation of support. * OL5 is not yet a turnkey software package- * Still in development with goal of effective & efficient processes * Districts are part of the “debugging” * CRs appear to languish for some time & priority is determined by whom? * Frequent releases yet work-arounds continue for basic California school business accounting and payroll processes * Reliable? Successive releases sometimes lose previous fixes * Accurate? Successive trials do not always yield the same result * Responsive? Does not provide for some basic processes * Confusing? Too many options when the basics aren’t reliable * Credible? One whole manual chapter & report are not usable * Resources? ET expanding to other districts… * Current on-line districts have not all completed a full year cycle * Steeper learning curves due to frequent releases * Flux in legislation & resources is dynamic as it is * Accountants struggle with “art” - custom reports, data access * Basic business processes “science” must be tight * Key accounting positions are not being backfilled * Current ACOE support staff is in flux * Forensic accounting skills to drill down into software &...
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...Executive Summary Widget Production ISCOM / 305 University of Phoenix Taylor Inc is manufacturing the Widget X that requires a special assembly line. At this point re-evaluation of labor productivity is needed due to the difference between the regular Widgets and the Widget X. With careful consideration of this project, operations-management must compare the current labor productivity to two alternative methods that would help them with the increase. A cost-benefit matrix will be provided to show comparison of current labor productivity, alternative one and alternative two labor productivity as well as, the effects the alternatives would have, and what the benefits of networking strategies to streamline operational procedures would be. Taylor Inc Cost Benefit Matrix | |Current |Alternative 1 |Alternative 2 | |Wasted Motion |27% |1% |7% | | Physical Lifting |42 |12 |23 | |People Required |17 |6 |9 | |Productivity |208 |392 |288...
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...Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that even local explorers don’t venture inside the towers. My online research regarding the Brewster-Douglass projects revealed almost nothing concerning the current internal state of the buildings. Friends would later tell me that...
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...* How information systems are helping the company To keep its place as one of the leading consumer product goods companies, Procter & Gamble is focused on understanding the current market state and predicting how future market changes affect consumer behavior and global brand strategy. P&G tasked the MIS team with two projects to support these goals. Firstly, the team developed a method of estimating key consumer metrics by country and built an application to facilitate analysis of these metrics and assessment of future opportunities. In addition, the team created a process by which specific brand measures could be compared over time and assessed for positive growth. Secondly, the team has benchmarked and recommended a data visualization solution for global market and economic data to aid decision makers’ focus on salient issues. This recommendation will be supplemented by a selection of customized graphs and dashboards, focusing on important concepts and trends. With these new capabilities, P&G will be better able to identify where current and new market opportunities lie, and how it can successfully implement its brand strategy in those areas. Currently, the team has completed all major deliverables and is preparing for its final presentation. The project has been a valuable learning experience for the team, exposing them to the fast-paced world of marketing strategy and analytics. MIS program allows students to work on real projects that provide real value...
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