...that of foreign industry, he intends only his own security; and by directing that industry in such manner as its produce may be of the greatest value, he intends only his own gain, and he is in this...led by an invisible hand to promote an end which was no part of his intention...by pursing his own interests he frequently promotes that of society more effectually than when he really intends to promote it.”1 With faith put in the driving force of self interest via the invisible hand theory it has been depicted by many economists to be the best way to steady an economy under laissez-faire conditions. Other than a brief showing in the later party of the 18th century the invisible hand theory made its presenc felt during the Industrial Revolution when many economists argued for the invisible hand which was very appropriate for the development of society at that time. However, recently, the theory invisible hand theory no longer leads to economic prosperity and innovation. The thought of rational self interest guiding economics to success is has little value in today's society because of obstacles such as inability to cooperate on a large scale, world crisis and human irrationality. “The natural force that guides free market capitalism through competition for scarce resources,"2 is what many economists believe the idea of the...
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...Microblogging tools such as Twitter have a useful information function in business. ‘The Internet is becoming the town square for the global village of tomorrow’ (Gates 2003). Over the past decade we have witnessed this statement slowly coming to fruition. We are in the age of social media, networking, and more specifically in the business world; microblogging. How has this changed business so far, and what are its prospects for the future? I will be looking at its wide ranging effects, positive and negative, and plan on evaluating the story so far. I intend to analyse the applications for the small and large businesses, including the use of SMM (social media marketing) whilst looking at the pitfalls that people and companies have, and will continue to, come across. Many small businesses are taking advantage of the social networking scene by using it as their primary medium for updating their customers. It presents a unique opportunity to keep connected to customers, wherever they may be. Not only does the consumer benefit through keeping in touch with the stores products and availability, but they may also take advantage of ‘twitter only’ promotions. According to a recent survey of 1000 users of social networking, ‘44% of those following brands on twitter said they did so because of the exclusive deals the firms offered to users’ (Economist, 2010). Straight away it can be seen how the ever important business-consumer relationship is working. In return for free, willing...
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...FIVE META-TRENDS THAT ARE CHANGING OUR WORLD* explored by David Pearce Snyder Consulting Futurist INTRODUCTION Last year, I received an e-mail from a long-time Australian client, requesting “five meta-trends that will have the largest impact on global human psychology.” The wording of the brief request gave the impression that they were ordering five off-the-shelf commodities which we could pull from stock and ship in seven days. Moreover, the term “meta-trend,” while increasingly in common use, lacks specificity as a contract deliverable. I asked them to describe what they meant by “meta-trend.” The client, The Meikle Files (www.meiklefiles.com.au), provides leadership development and career coaching for executives of multi-national firms. They replied that they were looking for “future trends that would most powerfully affect human consciousness and behavior around the world.” The Greek root “meta” clearly denotes a transformational or transcendent phenomenon, not simply a big, pervasive one. A Google search on “meta-trend” turned up a rich diversity of uses, almost all of which clearly involve convergent or catalytic change, as opposed to linear or sequential change. “The Oxford English Dictionary and Google,” I wrote back to the client, “agree that ‘meta-trend’ would most appropriately be defined as an evolutionary, system-wide development arising from the simultaneous occurrence of a number of individual demographic, economic and technologic trends.” “Each of your...
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...Headwords |Other words in the family. |Definition* | | |abandon |abandoned, abandoning, abandonment, abandons, e.g. |abandon | |abstract |abstraction, abstractions, abstractly, abstracts, e.g. |abstract | |academy |academia, academic, academically, academics, academies, e.g. |academy | |access |accessed, accesses, accessibility, accessible, accessing, inaccessible |access | |accommodate |accommodated, accommodates, accommodating, accommodation |accommodate | |accompany |accompanied, accompanies, accompaniment, accompanying, unaccompanied |accompany | |accumulate |accumulated, accumulating, accumulation, accumulates |accumulate | |accurate |accuracy, accurately, inaccuracy, inaccuracies, inaccurate |accurate | |achieve |achievable, achieved, achievement, achievements, achieves, achieving |achieve | |acknowledge |acknowledged, acknowledges, acknowledging, acknowledgement, acknowledgements |acknowledge | |acquire |acquired, acquires, acquiring, acquisition, acquisitions ...
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...Scientific Management - Scientific Management This essay will critically evaluate the scientific management’s importance and its contribution in the current management context. In this era of rapid economic development and industrial expansion of different nations, scientific management has enabled every nation to be involved in this global market. Scientific management is the theory which serves as the ‘backbone’ to many current management theories. Scientific management will be briefly described initially. After that, the essay will identify why scientific management is an important contribution to management theory when Frederick Taylor proposed it.... [tags: Business Employee Management] 1639 words (4.7 pages) $19.95 [preview] Scientific Management - Scientific Management Fredrick Taylor, the father of scientific management. He had a firm belief in "one best way" (Samson & Daft, 2003), of doing something. In the year 1899, Taylor held an experiment that involved German and Hungarian men, whose job involved some very heavy-duty work (Gabor, 2000). To his disappointment, men either refused to work, or wouldn't work to his expectations. The men hated him utterly; to the extent he required security when going home (Gabor, 2000). In his entire dilemma with his employers, in stepped Schmidt, a man not of intelligence but had the strength of a bull and an ox-like mentally required to reach the standards of Fredrick Taylor.... [tags: Taylorism Business Management Essays] ...
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...History of International Relations – HIR THE ESSAY Student Name: Hoang Phuong Student ID: DVB07- 0097 - 2014 Tutor: Prof. John Welfield Topic: Why did the leaders of the Meiji government in Japan decide to construct a great empire in Asia? Analyse the implementation of Japan’s Imperial Grand Strategy during the Meiji, Taisho and early Showa eras (i.e 1868 – 1945). Why did Japan’s imperial project end in disaster? What lessons can be draw? Word count (excluding references): 3857 The world in 19th century had seen the breakdown and collapse of numerous empires and kingdoms of Europe and Asia: first The Holy Roman Empire in 1806, then the defeat of Waterloo (1815) - which marked the end of Napoleonic Era, moreover, 19th century also witnessed the decline of the Ottoman Empire. On the other hand, this paved the way for other nations like England, France, Russia or China, to rise as new powers. During that time, Japan had dynamic political changes - the hundred-years-peace concreted by the Tokugawa Shogunate could not last any longer as the spread of Western imperialism was becoming larger in Asia. Therefore, the government of the Meiji realized that: Japan should become an Empire and emerge as the paramount Asian power along with her European counterparts, to maintain the balance of power so as to develop its national interests–...
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...ssSublists of the Academic Word List Each word in italics is the most frequently occurring member of the word family in the Academic Corpus. For example, analysis is the most common form of the word family analyse. British and American spelling is included in the word families, so contextualise and contextualize are both included in the family context. Sublist 1 of the Academic Wo rd List analyse analysed analyser analysers analyses analysing analysis analyst analysts analytic analytical analytically analyze analyzed analyzes analyzing approach approachable approached approaches approaching unapproachable area areas assess assessable assessed assesses assessing assessment assessments reassess reassessed reassessing reassessment unassessed assume assumed assumes assuming assumption assumptions authority authoritative authorities available availability unavailable benefit beneficial beneficiary beneficiaries benefited benefiting benefits concept conception concepts conceptual conceptualisation conceptualise conceptualised conceptualises conceptualising conceptually consist consisted consistency consistent consistently consisting consists inconsistencies inconsistency inconsistent constitute constituencies constituency constituent constituents constituted constitutes constituting constitution constitutions constitutional constitutionally constitutive unconstitutional context ...
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...Lincoln High School IB History Internal Assessment Student Handbook Table of Contents What is the History IA? Planning Your Historical Investigation Examples of Types of Investigations Examples of Research Questions Choice of Topic 20th Century History of the Americas Alternative The Written Account & Assessment Criteria A. Plan of the Investigation B. Summary of Evidence C. Evaluation of Sources D. Analysis E. Conclusion F. Sources and Word Limit Sample History IAs 1Trotsky and the Russian Civil War 2US in Chile 3Women in the French Revolution 4PreWWI Alliances 4 7 9 10 11 12 13 14 14 1 2 2 3 4 10 16 Information in this guide is gathered from a variety of sources, including, but not limited to: The IB History Course Guide, Oxford’s IB Skills and Practice, IBOCC, and anecdotal experience. What is the History IA? The History IA is your chance to explore a period, theme, or event in history that you are interested in. For full IB Candidates, it also serves as 20% of your final History Grade. The final paper will be assessed by your teacher, with a sampling sent off to IB for score moderation. The History IA asks you to use the full range of skills you have been taught in class. In particular: ● knowledge and understanding ● application and interpretation ● synthesis and evaluation...
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...DEPARTMENT OF AGRICULTURAL AND RESOURCE ECONOMICS AND POLICY DIVISION OF AGRICULTURAL AND NATURAL RESOURCES UNIVERSITY OF CALIFORNIA AT BERKELEY Working Paper No. 887 FALLACIES IN DEVELOPMENT THEORY AND THEIR IMPLICATIONS FOR POLICY by Irma Adelman Copyright © 1999 by Irma Adelman. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. California Agricultural Experiment Station Giannini Foundation of Agricultural Economics May, 1999 FALLACIES IN DEVELOPMENT THEORY AND THEIR IMPLICATIONS FOR POLICY. by Irma Adelman I. Introduction No area of economics has experienced as many abrupt changes in leading paradigm during the post Word War II era as has economic development. Since economic development is a policy science, the twists and turns in development economics have had profound implications for development policy. Specifically, the dominant development model has determined policy prescriptions concerning the desirable: role of government in the economy; its degree of interventionism; the form interventionism; and the nature of government-market interactions. Changes in both theory and policy prescriptions arise mainly from the following five sources: First, there is learning. As our empirical and theoretical knowledge-base enlarges, new theoretical propositions, or new evidence concerning either resounding real-world successes...
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...from amity to enmity as of 1979. While the international media has cast an ever-stronger spotlight on the Iranian-Israeli relationship in the past five or ten years, it has long deserved closer scrutiny. For two countries to be as intertwined at the political, military, economic and societal levels – like Iran and Israel from the 1950s through to the 1970s – and then to become and remain bitter and irreconcilable enemies – thanks to a radical Iranian regime change in 1979 – is virtually unheard of in the realm of international politics. This phenomenon begged further study, and was spurred along by the need for an impartial and inclusive analysis to mitigate the perpetual barrage of news headlines and journal articles prophesying the inevitable showdown between the two states (and...
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...1 ESSAYS ON SUSTAINABILITY Thirteen Challenging Essays for Earthlings By Peter E. Black, 2008 Wheels and Water .......................................................page 1 Water and Humans on Planet Earth ................................... 2 Climate, Weather, and Global Warming ............................. 3 A Catastrophic Loss of Species ......................................... 4 The Naked Truth................................................................... 5 Asymmetrical Resource Distribution ................................. 6 Stormwater and Groundwater Runoff ................................ 7 Economy, Energy, Environment ......................................... 8 Drill in the ANWR? No Way! ............................................... 9 The Wonder of Water ......................................................... 10 Buffering Sands of Time.................................................... 11 Ecology and Civilization .................................................... 12 With a Bang, not a Whimper.............................................. 13 © 2008 Peter E. Black, PhD (US Copyright Registration TXu 1-580-484, July 13, 2008 as “Conservation is the Cornerstone of Sustainability”) Distinguished Teaching Professor of Water and Related Land Resources, Emeritus, State University of New York, College of Environmental Science and Forestry, 1 Forestry Drive, Syracuse, NY 13210 peblack@esf.edu and www.watershedhydrology.com Essays on Sustainability Thirteen Challenging...
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...AFRICAN POVERTY Duncan Kennedy* Abstract: African extreme poverty is probably a function (although not solely) of the balkanized post-colonial geopolitics of Africa. It is also probably a function (although not solely) of the income distribution generated by a typically perverse African political economy, through its effect on the allocation of resources to development. As between these two causes, the second is probably much the more important. This reinterpretation puts considerably more of the blame for African poverty on the Western great powers than does the “poverty trap” analytic that is a common contemporary way of thinking about the African economic situation. INTRODUCTION This essay, which really is an essay rather than a sustained scholarly encounter with the problem, proposes an alternative to the “poverty trap” analytic for understanding extreme poverty in sub-Saharan Africa. The poverty-trap idea is well instantiated by the following quotation from Jeffrey and Lisa Sachs, and it is common among liberal Western commentators on African economy. For the world’s poorest people, daily life is a struggle for survival, with millions of impoverished people each year losing that struggle to famine, disease, environmental catastrophes, and violent conflicts that arise in conditions of extreme deprivation. . . . One basic point, not always remembered, is that impoverished countries lack their own budgetary resources needed to supply vital—indeed life-saving—services such...
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...The Myth of Asia’s Miracle Paul Krugman Foreign Affairs; Nov/Dec 1994; Vol.73, Iss. 6; pg. 62, 17 pgs The Myth of Asia’s Miracle Paul Krugman A CAUTIONARY FABLE Once upon a time, Western opinion leaders found themselves both impressed and frightened by the extraordinary growth rates achieved by a set of Eastern economies. Although those economies were still substantially poorer and smaller than those of the West, the speed with which they had transformed themselves from peasant societies into industrial powerhouses, their continuing ability to achieve growth rates several times higher than the advanced nations, and their increasing ability to challenge or even surpass American and European technology in certain areas seemed to call into question the dominance not only of Western power but of Western ideology. The leaders of those nations did not share our faith in free markets or unlimited civil liberties. They asserted with increasing self-confidence that their system was superior: societies that accepted strong, even authoritarian governments and were willing to limit individual liberties in the interest of the common good, take charge of their economies, and sacrifice short-run consumer interests for the sake of long-run growth would eventually outperform the increasingly chaotic societies of the West. And a growing minority of Western intellectuals agreed. The gap between Western and Eastern economic performance eventually became a political issue. The Democrats recaptured...
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...Discuss the role of leaders and leadership in serving as effective change agents. Abstract Change has an important place in the study of organizational life. Whether a corporate giant or a small start-up, every organization today faces the challenge to change and adapt, either as a response to the external environment or simply a deliberate internal procedure to re-look at business operations to maintain its viability. Generally, people are usually inclined to defend the status-quo and resist change for a multitude of reasons ranging from a straightforward intellectual disagreement to deep-seated psychological factors. The degree of skepticism and resistance to change from employees make implementation difficult and their counter-productive behaviors tend to jeopardise the success of the change process and thus the intended objectives. Successfully reducing resistance and motivating employees through the transition is vital in organizational change efforts. Salient factors from literature reviews in enabling organizational change are presented and the need of leadership and role of leaders as effective change agents is discussed in this essay. Successful organisational change is about the interplay of all organizational elements such as human resources, systems and technologies. Good leaders and leadership skills have been identified as pivotal to garnering support of people in championing change initiatives that steer organisations...
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...The Local Food Movement Benefits Farms, Food Production, Environment The Local Food Movement, 2010 Pallavi Gogoi is a writer for BusinessWeek Online. She frequently writes on retailing. Just as small family-run, sustainable farms were losing their ability to compete in the food marketplace, the local food movement stepped in with a growing consumer demand for locally grown, organic, fresh produce. In addition to supermarket giants following the trend toward locally grown food and devoting shelf space to such items, local foods are also finding their way into schools, office cafeterias, and even prisons. Although the trend toward organic foods has not waned, consumers are increasingly aware of the environmental impact caused when organic foods must travel to find their way to the local grocery store shelf. For this and other reasons, consumers are opting instead for locally grown counterparts, choosing to eat what is available in each season in their areas rather than purchasing food that must be shipped from other regions. Drive through the rolling foothills of the Appalachian range in southwestern Virginia and you'll come across Abingdon, one of the oldest towns west of the Blue Ridge Mountains. If it happens to be a Saturday morning, you might think there's a party going on—every week between 7 a.m. and noon, more than 1,000 people gather in the parking lot on Main Street, next to the police station. This is Abingdon's farmers' market. "For folks here, this is part of the Saturday...
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