Naked Economics Essay Example | Topics and Well Written Essays - 750 words

Naked Economics - Essay Example Wheelen has stressd the importance of innovation in his opening chapter. He says that trade is like innovation. Imagining larger goals such as turning corn into stereo, soybeans into cars and Windows software into French wine, he says that such a large context innovation is happening in trade in both rich and poor countries. According to him trade makes people richer and brings in more specialization in production. Wheelen's argument is that trade is mutually beneficial as it is based on the concept of voluntary exchange. In today's global trade order innovation has a greater role and helps in the value addition of global trade. The growing competitive environment and emergence of new industry houses from developing markets are compelling industrial houses world over and ambitious nations to give shape a solid action plan for the long term existence. With the opening up of economies, the capital flow has now become freer and margins have come down significantly. Most of these compani es are now working on shoe string margins or carrying out specific cost saving measures to increase their competitive advantages. Companies from developing nations are also aggressively entering into the markets in developed world such as United States, European Union and United Kingdom. While industry has to decrease the cost of production, it was necessary to improve technology and product quality to sustain in this highly competitive global trade scenario. It is in this scenario that multi national companies are thinking of a new approach for growth. Innovation is considered as the major factor deciding the competitive power of industries and nations. Wheelen says that trade makes the world richer by allowing greater specialization in production. According to Wheelen the trade will also help the customers products and services are lower cost. Not yet finished extolling the virtues of international trade, Wheelen turns to saying the myths of "sweatshop labor" and a trade-fostered environmental "race to the bottom." In the chapter "The Power of Markets", he portraits the power of markets to improve the consumer's life. He describe in the work about how markets use "prices to allocate scarce resources," how "markets are self-correcting," and how "every market transaction makes all parties better off." Trade is an unavoidable necessity in today's economics. Wheelen is successful in evaluating the strength of market and trade in improving living standards. He portraits how politics is influenced by trade related issues. Providing a in-depth analysis of public choice field of economics, he says that even smaller groups can make political impacts in the economic interest. In the chapter "The Power of Organized Interests," he says that farmers and ethanol producers were able to wrangle beneficial legislation with their collective bargaining power. It also gives an idea of rent seeking and explains how regulations such as occupational licensing can become powerful tools for self-interested individuals to extract rewards that they would be unable to in the marketplace. After illustrating how free markets are virtually always superior to markets regulated by government intervention, he suggests ways that governments can improve things by intervening in those markets. It may seem that Wheelan is a leftist economics. But his actual success is that he was able to give a clear picture of how market performs in the new economic order. His says that wages

Critique Essay Example | Topics and Well Written Essays - 250 words - 5

Critique - Essay Example A careful review proves that Many of the American militias suffer heavy loses personally but believe in the revolutions course. The Militia show courage as the film portray their force fragile compared to the military power of the British Army. However, Bravery is challenged in the film, and the story depicts how the men handle the challenges and continue to fight. The film despite an excellent effort by the director to portray the real life events of the revolution but, it does not represent the actual history. Many of the atrocities committed by the British particularly Tavington, are war crimes by the Nazis in 1940 and not what happened in 1770s. The mixture of the two clearly demines credibility of the film as an accurate account of the revolutionary war. A vital lesson from the film is war always comes with its spoils that curse both pain and joy to the two warring sides. Bravery is crucial in any war, and when mixed with the right experience and war tactics a win is most promising, in this

Developing Leadership Diversity Research Paper Example | Topics and Well Written Essays - 750 words

Developing Leadership Diversity - Research Paper Example According to an issue paper published by the Military Leadership Diversity Commission (MLDC), â€Å"diversity leadership addresses how leaders at all ranks and organizational levels shape the impact of diversity dynamics in the forces under their command† (2010, p. 2). Due to the expansive applicability of developing leadership diversity in current times, the research paper hereby aims to proffer pertinent issues relative to leadership diversity and would hereby identify and describe emerging ideas and examples of innovative organizations that apply the chosen leadership diversity concepts. Definition of Terms A study conducted by Lim, Cho & Curry (2008) have explicitly provided a definition of diversity leadership as dealing â€Å"with ways in which people and groups relate to one another and how management [leadership] decisions are made in the midst of differences similarities and tensions among groups† (cited in Military Leadership Diversity Commision (MLDC), 2010, p. 1). ... Morrison’s (1992) definition of leadership diversity, to wit: â€Å"the acknowledging that diversity is indeed a leadership issue and is â€Å"the integration of diversity within the leadership ranks† (p.4; cited by Alkandry, n.d., p. 8). Emerging Ideas In the research conducted by Alkandry (n.d.), the author acknowledged that â€Å"managing a diverse workforce would need a different type of leader who is capable of exercising cultural relativism. In this situation leadership diversity becomes an issue of inclusiveness and respect for the cultural uniqueness of every member of the organization† (Alkandry, n.d., p. 5). This is consistent with Shen, et.al.’s (2009) study which disclosed that â€Å"diversity management does not only recognize but also values and harnesses workforce differences, such as individual characteristics, backgrounds, orientations and religious beliefs, so that individual talents are being fully utilized and organizational goals are met† (p. 238). Given these theoretical frameworks, the challenge is to develop leaders who recognize distinct values on respective cultural orientations; yet, are able to harness talents, skills and abilities that facilitate the achievement of organizational goals. Morrison (1993) proposed five steps in developing leadership diversity in organizations, as follows: â€Å"The first step is to discover, and then regularly rediscover, the current problems in your own organization. Step two is to strengthen top management commitment. Step three is to choose practices in a strategic way. Then, step four is to demand results from those efforts. Step five is to then build on progress to keep momentum going† (par. 13). Contemporary organizations have been manifested to practice developing leadership diversity, as proposed by

Cash and accrual accounting Essay Example | Topics and Well Written Essays - 1250 words

Cash and accrual accounting - Essay Example Meanwhile, accrual basis is accounting techniques that transactions are recognized when item is delivered, and revenues are recorded when they are earned. Although, the two methods are both accounting method and used to record transactions, they are different in various ways and the paper will evaluate the difference of the two accounting methods used to recognize transactions. Cash vs. accrual accounting Accrual-basis financial statements give more practical information than cash-basis statements because the accrual-basis is a method that is recognized by the generally accepted accounting principles (GAAP). However, the cash basis statement is not useful as accrual basis because it is not recognized by the GAAP. Meanwhile, the accrual basis ensures firms have recorded transaction in the period that the event has occurred. For instance, to establish the net income it will require the company to recognize revenue when it was earned but not when it received the cash. Meanwhile, the com pany under the accrual basis will recognize the expenses at the period when they are incurred and not the period when they are paid. Conversely, the companies that use cash basis accounting can record revenues when they get cash, and record an expense when they pay out cash. Although, cash basis seems appealing because of its simplicity, it frequently generates false financial statements (Diamond, 2006). Meanwhile, cash basis fails to record revenue that the company has earned and instead opt to record revenue that it has received the cash. Meanwhile, the accrual basis matches expenses with earned revenues, but cash basis does not match the expenses with earned revenues. Cash basis is recommendable for the small firms because they do not prepare detailed receivables and payables, but accrual basis accounting is mostly utilized by large businesses. Conversely, companies that use the accrual method to make adjustment entries for accruals will record revenue earned in the recent accoun ting period (Diamond, 2006). Adjusting entries under an accrual method maintains two purposes that include showing the receivables. This exists in the balance sheet and involves recording the revenues earned during the period. Meanwhile, before the adjustment is done under the accrual method, assets and revenues are understated. Under the cash method, before the adjustment entries are performed for the prepaid expenses, assets are overstated, and expenses are understated. Moreover, many small businesses use the cash method for recognizing transaction because it offers flexibility in managing taxable income used in the running of the business. In contrast to cash basis methods, accrual methods will record transactions that are made, and most of the companies use the method (Biafore, 2010). The accrual method offers better matching between revenues and their related cost that assist firms understand the true causes and effects of various business activities. Consequently, revenues are recognized during the same period in which sales transactions occurred, and expenses are recognized in the same period as their linked revenues. However, the two accounting methods are used to recognize the transactions

Mediation paper Essay Example | Topics and Well Written Essays - 2500 words

Mediation paper - Essay Example fact about the case is that the pet is now fertilizer, the court has requested out-of-court settlement, and this presents an opportunity in my training to exercise mediation process. Certainly, this is a perfect opportunity to apply theoretical principles of the mediation process. Firstly, the case presents two persons, the claimant and the fertilizer company representative who are willing to settle the matter outside the court. Secondly, the claimant has no interest for money; this is a good premise for this case. Her legal pursuit was primarily motivated by her feelings of hopelessness and grief. In theory, facilitated negotiations involve a neutral party who has relinquished powers to make a decision, this should be a fundamental principle that will guide me throughout the mediation process. Folger & Bush (1996, pg. 264) identifies that satisfaction story is an important theoretical model in this case. Notably, the fertilizer representative and the claimant are interested in the settlement of the case. As a mediator, I will apply the satisfaction story in order to achieve four important goals of mediation. Firstly, the process should remain as informal as possible and not drive by any legal rules; this promotes satisfaction of both parties involved. Secondly, I satisfaction story, an important goal is to focus on the interest of the parties involved. In this case, the claimant is in pursuit for her emotional satisfaction on her loss of the pet while the company representative wishes to avoid litigation and court fines. Based on this case, my interest as a mediator will be to seek common ground that is acceptable to both parties. Besides, satisfaction story model will allow me to ensure that the parties arrive in a commitment in meeting the agreement. An important factor in the mediation process is the satisfaction. It is achieved after clear deliberation that strikes a balance of both parties interest (Folger & Bush 1996, pg. 266). Moreover, this model is

Spss statical analysis of my primary research of my report Essay

Spss statical analysis of my primary research of my report - Essay Example Primary data analysis revealed that good design of the product (62%), affordable price (60%), and reputation (57%) are the most important reasons for the customers to shop at Ted Baker. Less than 15% and less than 23% of the respondents also reported sales person’s information and store environment respectively are important. The number of individuals who described affordable price as the most important reason to buy from Ted Baker was approximately 58% of the total respondents. Moreover, 23% of the shoppers in the 31 to 40 age category reported affordable price as the most important reason for buying from Ted while none stated affordable price as ‘not important’. In the less than 21 and 21 to 30 age categories, the affordable price was also rated as the most important reason for most of the shoppers. The panel of Chart 02 illustrates the importance of affordable price for the customers in different age categories. The importance of other factors to the shoppers, such as quality, design, salespersons’ information, store environment and reputation of the brand, is illustrated in Tables 2–6 respectively in Appendix B. Approximately 58% of the respondents stated affordable price is more important compared to the services, store environment and brand reputation. Percentage proportions of the individual respondents who reported affordable price is more important compared to the other factors are illustrated in Appendix C and Graph 1 below. Satisfied and loyal customers have been repeatedly visiting Ted Baker for a longer duration compared to the others. Findings support the theory that satisfaction and loyalty are related, and it includes behavioural characteristics such as continuing to purchase products from the same supplier. The correlation coefficient between the degree of loyalty and the length of the

The Scramble for Africa Essay Example | Topics and Well Written Essays - 2500 words

The Scramble for Africa - Essay Example 5). The impact of globalization on Africa has illustrated its dangers. Just as capitalism needed to be regulated in the United States and other market economies in the industrial age to protect people from the abuse of companies in the name of profit, a worldwide effort arguably needs to be made to protect the most vulnerable people in the world from corporate abuse when their own governments will not do so. According to Simon Taylor, director of Global Witness, a globalization watchdog, G8 countries need to take the lead in preventing this kind of abuse, as their companies are the most likely to be benefiting from it. He asserts, "Western companies and banks have colluded in stripping Africa's resources. We need to track revenues from oil, mining and logging into national budgets to make sure that the money isn't siphoned off by corrupt officials" (par. 4). The potential for Africa to produce huge profits for foreign investors is undeniable. The continent is shaping up to be the highest potential investment area in the world. "Sub-Saharan Africa may be the poorest region in the world but it is also its most profitable investment destination. According to the World Bank's 2003 global development finance report, the continent offers 'the highest returns on foreign direct investment of any region in the world'" (Wright 2005, par. 7). It is only a matter of time before this fact will influence the behavior of foreign companies. "At the moment only around 1% of the private capital that is sloshing around the globe finds its way into sub-Saharan Africa. But there is an increasing band of intrepid international companies that are initiating a new scramble for Africa. Like the colonial pioneers before them, they have found that the strategy can be risky but the potential rewards are enormous" (par. 8). The African continent's wealth of oil and diamonds is the primary target of this latest "scramble." Oil in particular has led developed nations to eye Africa, particularly given the recent escalation of prices. "Spurred by rising global oil prices and depleting reservoirs nearer home, the world's biggest energy-consuming countries have re-discovered Africa. Oil production across that least-developed continent is set to double by the end of the decade, with the US alone importing more than a quarter of its requirements from there. Africa is expected to supply one-fifth of global output by 2010" ("Oil exploration" 2005, par. 2). Competition for this African resource is fierce, and threatens to inflict serious injury on local populations. "As the world's oil becomes depleted, the energy-intensive developed countries face each other in mounting competition for the remaining resources. This trend could have major economic, political, social and environmental implications for regions such as Africa" (par. 1). Unfettered by the kind of government regulation constraining huge multinational oil companies in developed countries, there is a grave risk that they could fail to implement environmental and other safeguards, thereby risking the health and safety of the local populations. Further, an environmental disaster such as an oil spill or refinery explosion could have tremendous economic