...Occasional Paper 5 The Recovery of Trust: Case studies of organisational failures and trust repair BY GRAHAM DIETZ AND NICOLE GILLESPIE Published by the Institute of Business Ethics Occasional Paper 5 Authors Dr Graham Dietz is a Senior Lecturer in Human Resource Management and Organisational Behaviour at Durham University, UK. His research focuses on trust repair after organisational failures, as well as trust-building across cultures. Together with his co-author on this report, his most recent co-edited book is Organizational Trust: A cultural perspective (Cambridge University Press). Dr Nicole Gillespie is a Senior Lecturer in Management at the University of Queensland, Australia. Her research focuses on building, repairing and measuring trust in organisations and across cultural and professional boundaries. In addition, Nicole researches in the areas of leadership, teams and employee engagement. Acknowledgements The authors would like to thank the contact persons in the featured organisations for their comments on an earlier draft of this Paper. The IBE is particularly grateful to Severn Trent and BAE Systems for their support of this project. All rights reserved. To reproduce or transmit this book in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, please obtain prior permission in writing from the publisher. The Recovery of Trust: Case studies...
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...Occasional Paper 5 The Recovery of Trust: Case studies of organisational failures and trust repair BY GRAHAM DIETZ AND NICOLE GILLESPIE Published by the Institute of Business Ethics Occasional Paper 5 Authors Dr Graham Dietz is a Senior Lecturer in Human Resource Management and Organisational Behaviour at Durham University, UK. His research focuses on trust repair after organisational failures, as well as trust-building across cultures. Together with his co-author on this report, his most recent co-edited book is Organizational Trust: A cultural perspective (Cambridge University Press). Dr Nicole Gillespie is a Senior Lecturer in Management at the University of Queensland, Australia. Her research focuses on building, repairing and measuring trust in organisations and across cultural and professional boundaries. In addition, Nicole researches in the areas of leadership, teams and employee engagement. Acknowledgements The authors would like to thank the contact persons in the featured organisations for their comments on an earlier draft of this Paper. The IBE is particularly grateful to Severn Trent and BAE Systems for their support of this project. All rights reserved. To reproduce or transmit this book in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, please obtain prior permission in writing from the publisher. The Recovery of Trust: Case studies of organisational...
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...growing, saving rates were high, and inflation low. Turning point in Asian economy was 2 July 1997, the day when Thai Baht fell around 20 % against the $US. “It all began in Thailand’ summarizes the conventional explanation of the early stages of the crisis.” (Hill, p.3) How it all began, what factors caused the crisis, what segments were affected the most, what was the backup plan, and what policies should have been taken to prevent the crisis are the points that this paper will cover. First and Second-Generation Models According to 1996 annual report of Bank for International Settlements (BIS), pre-crisis fundamentals exhibit economic performance of Asian countries. They’ve experienced moderate inflation rates of about 6%, high savings rate of 32%, and trade openness indicators of 39%. Table 1: East Asian Economic Conditions Before Crisis Although accounting and macroeconomic analytics have failed to foreseen the currency crisis, which is inevitable, first and second-generation models explain us was it due to weakening macroeconomic fundamentals or financial contagion. In accordance to first-generation model developed by Krugman 1979, market-speculative movements, in response to policies, are incompatible with fixed exchange rate regime. What it means is that “speculators who want to make a profit can buy foreign exchange reserves causing its exhaustions and forcing the country to devalue or abandon the exchange rate peg.” As many studies have argued, the Asian crisis represents...
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...European Central Bank (ECB), and the International Monetary Fund (IMF), commonly referred to as the ‘troika’, in May 2010 (Gemenis & Nezi 2015; Tseronis 2014). Afterwards, Greece required a second bailout programme in February 2012 and an agreement that led to a third bailout after marathon negotiations, on 13th July 2015. The aim of this essay is not only to describe and analyse how Greece reached a third bailout but also to investigate if this programme could be the end of the Greek and euro crisis. It is divided into three main sectors: the first one is about the previous bailout programmes as well as the reasons for their failure. The second one analyses the present crisis, the new bailout framework and its current effects in Greece. The last one illustrates the future for both Greece and the Eurozone, provided that the programme is implemented by the Greek government, and the dangers, which still exist, of torpedoing this new programme. Although the new bailout comprises immensely tough austerity measures, it...
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...with a weak recovery, millions of Americans losing their homes, obstinately high unemployment and complicated budget negotiations. To his fans, he is the figure most responsible for stabilizing the banking system and preventing a catastrophic economic collapse. To his critics, he was excessively generous to bankers and failed to change a system where some banks remained “too big to fail.” In a wide-ranging interview during his last days at Treasury, he kept returning to what has become one of his signature themes—the importance of putting “policy ahead of politics.” All too often, in his view, the best economic policies have enormous up-front political costs. We began by talking about the financial crisis of 2008. MARCH 8, 2013 NATE COHN OTHER STORIES FROM LA: Your predecessor Hank Paulson in his book describes how at the height of the crisis he would have sleepless nights, worrying that a giant financial collapse was going to occur on his watch and that he would go down in history as the Herbert Hoover of the current era. Your colleagues all say you are remarkably calm, even in the middle of a crisis. TG: Well I was very worried throughout that period of time. Starting in August of ’07 I Could North Korea Nuke Washington? MIKE MADDEN Adios, Presidente NATE COHN had moments of deep, serious concern about the future. The hardest part for me was that period between when we knew we faced an existential threat of collapse but before we figured out what we were going...
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...GBHN AND THE DEVELOPMENT PLANNING IN INDONESIA Imam Subkhan Abstract After more than a decade Indonesia entered the New Reform era, there is now a desire among some politicians and intellectuals to revive the concept of the Guidelines (GBHN) to guide development planning as it was once used under the New Order regime. The desire was based on the view that the current development planning has led to much turmoil, collision and no sustainability. This paper describes the Guidelines used for development planning in the reform era called Long Term Development Plan (RPJMN) is somewhat similar to the Guidelines (GBHN) in the perspective of theory of modernization development. Therefore, chaos, development planning collision is actually not caused by the absence of the Guidelines itself, but rather on the changes of the state power system into more horizontal system so that no state agency is able to fully control the development planning from the center down to regions, something which was done well in the era of the New Order. Keywords: GBHN, RPJMN, Modernist, Development. During a political debate in Jakarta late March 2014, the 3rd President of Indonesia, BJ Habibie recalled the importance of having a Broad Guidelines of State Policy (GBHN) to be revived1. In late January 2014, at a meeting with Golkar Party cadres, Habibie also reminded the same thing. "We are aware, in the absence of such Guidelines the development in Indonesia will not run well on the long run. So, I want to...
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...individuals to adopt healthy behaviors. According to the World Health Organization, Health promotion is the process of enabling people to increase control over, and to improve their health. Health promotion represents a comprehensive social and political process, it not only embraces actions directed at strengthening the skills and capabilities of individuals, but also action directed towards changing social, environmental and economic conditions so as to alleviate their impact on public and individual health. Health promotion is the process of enabling people to increase control over the determinants of health and thereby improve their health. Participation is essential to sustain health promotion action. The Ottawa Charter identifies three basic strategies for health promotion. These are advocacy for health to create the essential conditions for health indicated above; enabling all people to achieve their full health potential; and mediating between the different interests in society in the pursuit of health. These strategies are supported by five priority action areas as outlined in the Ottawa Charter for health promotion: * Build healthy public policy * Create supportive environments for health * Strengthen community action for health * Develop personal skills, and * Re-orient health services The Jakarta Declaration on Leading Health Promotion into the 21st Century from July 1997 confirmed that these strategies and action areas are relevant for all countries...
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...Innovation -strategies and finance- Index 1. Introduction 2. Tips for innovation 2.1 Increase Productivity 2.2 Implement a Continuous Improvement Culture 2.3 Create an Innovation Culture 2.4 Developing Talent and Ability to Innovate 2.5 Design and Build New-Growth 2.6 Collaboration 3. Innovation in the EU 3.1 Marco’s Programme. 3.2 Innovation Union 3.2.1 Conclusions innovation unión. 4. Conclusions 5. Biography 2 Introduction Innovation is the development of new customers value through solutions that meet new needs, inarticulate needs, or old customer and market needs in value adding new ways. This is accomplished through more effective products, processes, services, technologies, that are readily available to markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. In business and economics, innovation is the catalyst to growth. With rapid advancements in transportation and communications over the past few decades, the old world concepts of factor endowments and comparative advantage which focused on an area’s unique inputs are outmoded for today’s global economy. Economist Joseph Schumpeter, who contributed greatly to the study of innovation...
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...India's Economic Reforms Montek S Ahluwalia* The past three years have seen major changes in India's economic policies marking a new phase in India's development strategy. The broad thrust of the new policies is not very different from the changes being implemented in other developing countries and also all over the erstwhile socialist world. They aim at reducing the extent of Government controls over various aspects of the domestic economy, increasing the role of the private sector, redirecting scarce public sector resources to areas where the private sector is unlikely to enter, and opening up the economy to trade and foreign investment. These changes have been accompanied by a lively debate in India and have also attracted interest abroad. International opinion has typically welcomed the reforms and generally urged a much faster pace of implementation, especially in view of changes taking place in other countries. Within India, opinion has been more varied. There are some who question the very direction of reform, but this is definitely a minority opinion. More generally, the broad direction of reform has met with wide approval, but there are differences of view on what should be the pace and sequencing of reforms. While there is widespread support for the elimination of bureaucratic controls over domestic producers, there are differences on such issues as the speed at which protection to domestic industry should be reduced, the extent to which domestic industry...
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...set out a plan to introduce the single currency (the Euro) by 1999. The Maastricht Treaty also established certain budgetary and monetary rules for countries wishing to join the EMU (known as the convergence criteria). In 1998, 11 member states (Germany, France, Italy, Belgium, Luxembourg, the Netherlands, Spain, Portugal, Ireland, Austria and Finland) undertook the final stage of EMU when they adopted a single exchange rate, which was set by the European Central Bank (Britain, Sweden and Denmark negotiated an opt-out from this final states of EMU). The new Euro notes and coins were launched on 1 January 2002. There are currently 16 EU states in the Eurozone. Greece joined the initial 11 members in 2001, Slovenia joined in 2007, Cyprus and Malta in 2008, and Slovakia joined in 2009. Estonia is due to join the Eurozone in 2011. All future members of the EU must adopt the Euro when they fulfil the convergence criteria. Economic and Monetary Union (EMU) Step 1: a country loses a degree of economic sovereignty when it enters a trade bloc or single market as a necessary step towards being part of an EMU. Stage 2 – Joining a trade bloc or single market: to join a single market, or a trade bloc, a country must give up a degree of power over trade. Such powers can include: import and export tariffs, product regulations and free movement of...
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...India's Economic Reforms an Appraisal India's economic reforms began in 1991 when a newly elected Congress government, facing an exceptionally severe balance-of-payments crisis, embarked on a programme of short-term stabilization combined with a longer-term programme of comprehensive structural reforms. Rethinking on economic policy had begun earlier in the mid-1980s by which time the limitations of a development strategy based on import substitution, public sector dominance, and pervasive government control over the private sector had become evident. But the policy response at the time was limited to liberalizing particular aspects of the control system without changing the system itself in any fundamental way. The reforms initiated in 1991 were different precisely because they recognized the need for a system change, involving liberalization of government controls, a larger role for the private sector, and greater integration with the world economy. The broad outline of the reforms was not very different from the reforms undertaken by many developing countries in the 1980s. Where India's reforms differed was in the much more gradualist pace at which they were implemented. The compulsions of democratic politics in a pluralist society made it necessary to evolve a sufficient consensus across disparate (and often very vocal) interests before policy changes could be implemented and this meant that the pace of reforms was often frustratingly slow. Daniel Yergin (1997) captures...
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...world. IMF was created in 1945 and it’s an organization of 187 countries. Why IMF was created and how it works? The IMF, also known as the “Fund,” was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United States, in July 1944. The 44 governments represented at that conference sought to build a framework for economic cooperation that would avoid a repetition of the vicious circle of competitive devaluations that had contributed to the Great Depression of the 1930s. Work of IMF The primary mission of the IMF is to provide financial assistance to countries those countries who experience financial and economic difficulties and to sought those difficulties they are given financial help by using funds deposited with the IMF from the institution’s 187 member countries. Member of IMF states with balance of payments problems, which often arise from these difficulties, may request loans from IMF to help fill gaps between what countries earn and/or are able to borrow from other official lenders and what countries must spend to operate, including covering the cost of importing basic goods and services. In return, countries are required to launch certain reforms which have often been dubbed the Washington Consensus. These reforms are thought to be beneficial to countries with fixed exchange rate policies that may engage in fiscal, monetary, and political practices that may lead to the crisis itself. For example, nations with severe budget deficits...
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...Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union THE WORLD BANK Washington, D.C. © 2002 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 All rights reserved. 1 2 3 4 5 05 04 03 02 The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to the Copyright Clearance Center, Inc, 222 Rosewood...
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...[pic] TABLE OF CONTENTS EXECUTIVE SUMMARY 4 INTRODUCTION 5 KONGO GUMI ENVIRONMENT 7 Feudal Japan 8 The Restoration of Edo 8 The Meiji Restoration 9 World War 1 12 The Mid War Period 13 World War 2 15 The Occupation of Japan and Post War Reconstruction 16 The Economic Miracle 17 The Lost Decade 18 Global Financial Crisis 19 Natural Disasters 20 Abenomics 21 STRATEGIES KONGO GUMI USED TO SURVIVE TURBULENCE 23 Kongo Gumi in the 20th Century 23 Meiji restoration 23 The Mid War Period 24 World war 11 24 KONGO GUMI WOULD HAVE SURVIVED IF: 25 WOULD KONGO GUMI HAVE SURVIVED IF IT MADE IT THROUGH TO THE ABENOMICS ERA? 26 LESSONS FROM KONGO GUMI 27 CONCLUSION 28 REFERENCES 31 Appendix 1 – Infographic of Japan’s timeline EXECUTIVE SUMMARY Kongo Gumi was a success as it operated in a stable industry. The belief system has survived for thousands of years and has many millions of adherents. With this firm foundation, Kongo had survived some tumultuous times. The temple construction had until recently been a reliable mainstay, contributing 80% of Kongo Gumi's $67.6 million in 2004 revenues. The story of Kongo Gumi suggests that firms should blend elements of conservatism and flexibility. This means that firms should stay in the same business for more than a millennium and...
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...business. D1 – Evaluate the impact of changes in the economic environment on a selected business In this part of the assignment I am going to be researching the economic factors of Barclays as a business. The Business cycle All of these factors have an enormous impact on my selected business (Barclays) as the economy goes from growth and decline. As well as many others, Barclays is majorly affected as it is in the financial industry. These different factors appear throughout what is called the ‘Business Cycle’. The cycle shows the fluctuation of the activity within the economy over a period of time and consists of 4 main stages; as well as many others, Barclays as a business is majorly affected as it operates in the financial industry. These different factors appear throughout what is called the ‘Business Cycle’ and also known as the ‘Economic Cycle.’ The cycle shows the fluctuation of the activity within the economy over a period of time and consists of 4 main stages; Growth, slowdown, Recession and Recovery as shown below: Supply and demand and GDP (gross domestic product) 'Gross Domestic Product - GDP' the monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. Forces of demand and supply interact to create a market place. This is for many different reasons, for example: Factors that influence demand: * Affordability * Competition and available substitutes ...
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