People Organization Management Essay Example | Topics and Well Written Essays - 1000 words

People Organization Management - Essay Example A service industry is engaged in the production of tangible or intangible services that are of value to consumers as a final product. Work is any activity that an individual engages in on behalf of another individual or organization, with the purposes of accomplishing that activity or task within the set time frame to get a reward. The reward may be in the form of money or recognition. Managers are individuals entitled to make decision on how an organization operates. These individuals are in charge of the organization as a whole. On the other hand, the work of a supervisor is to basically ensure that the employees perform their duties as required by the managers. The supervisor is only responsible for the employees he supervises, not for the whole organization Political environment impacts heavily on every business organization, no matter its size or area of operation. Political factors impacts on an organization notwithstanding the fact that the organization may be domestic, national, or international. First, a government can restrict or control an organization's activities by offering support and encouraging, or by restricting, banning, or discouraging its activities. Secondly, due to political factors, a company's trading licence may be withdrawn by the government thereby effectively curtailing its operations in a given country. 6. "Give two examples of how the nature of work was affected by the so-called Industrial Revolution." Industrial revolution happened when there was an extensive replacement of manual work by machines. It began in Britain in the 18th century. First, agricultural economies were transformed into industrial ones. Man used to dig and plant the farms manually, but this was replaced by machines following the industrial revolution. Secondly, goods that were traditionally been produced from home in small quantities started to be mass-produced in factories in large quantities. The industrial revolution changed the nature of production. Also, to increase efficiency, large groups of enterprises would occupy a limited area. The nature of work was affected in that people started to move from rural areas into urban areas in search of work. 7. "Explain what Goldthorpe et al (1968) meant by their classification of an 'instrumental' orientation to work." This is where people are faced with a dilemma of having to choose between work that give an individual variety, relative autonomy, and scope for initiative, and work which for any talent level, affords the individual the uppermost going rate for economic return. 8. "What would you expect to happen to the wage rates of a particular occupation for whose services demand increased in the labour market'" The wage rate is expected to go up to reflect the increased demand of the services in the labour mar

Fundamentals of Quantitative Research Template Assignment

Fundamentals of Quantitative Research Template - Assignment Example two variables, this study goes ahead to dissect each of variables into its constituents and analyze how these individuals’ constituents relate to the second variable and its constituents. As already mentioned, a cross-sectional sampling technique is adopted for this research. The cross-sectional sampling technique adopted offers room for an all-inclusive study. Undertaking the study across diverse industries, the author brings a wholly representative study with respect to the area covered. Additionally, the sample is large enough to offer a representative sample. Additionally, considering the fact that the study participants are not aware of the study hypothesis, chances of biased occurring is highly diminished (Tzafrir, 2005). Nonetheless, the sample is non-purposive and this could have an impact on its representative of realistic findings of the research. The approach used in collecting the data used in the research suits its context. For starters, it should be mentioned that selecting participants from various organizations as sources of data allowed obtaining of representative data. Additionally, the researchers consider the ethics behind data collection. Although the sample chosen are unaware of the hypothesis of the study, they were well briefed on the research and those willing to, participated on voluntary basis participated in the research. Additionally, collection of primary data offers room for realistic and more current data for analysis. The research took an in-depth measurement of variables. Other than simply measuring the relationship between the two study variables, research further measures various components of the respective study variables. As a matter of fact, this offers room for undertaking an in-depth exploration of the relationship between the variables. It is simply like answering the question as to whether two countries have good relationship and going a step further to explore the area in which the two countries enjoy a good

Art on Japanese Art History Essay Example for Free

Art on Japanese Art History Essay How can the artistic medium one chooses to use to express oneself determine whether or not it is truly art? While digital artists’ artistic ability is often questioned and the credit is given to the computer being used, the art itself springs from the mind of the digital artist. I can say this with personal fervor: Digital art is truly in essence a form of art that merely takes advantage of the innovations of modern technology. Digital Art isn’t computer-generated. While it might involve using tools offered by specialized computer programs a computer doesn’t do the thinking for you, and the creative ideas put forth are of the artist’s mind. Digital artist’s only use computer tools to convey their designs, all of the creative credibility should be given to the artist himself. Should the canvas the Mona Lisa was painted on be considered the creator of the masterpiece or rather Leonardo Da Vinci? Painters that stick to canvas are limiting themselves to the paint they use and the cotton woven fibers of their canvas. Why purposely choose to ignore the modern day tools that are given to you and condescendingly look down upon those who choose to utilize them? Over the years, I have spent a lot of my own time experimenting in the depths of digital art. Many times, I have used the computer as a medium for self expression; from creating to pictures on Microsoft paint as a child to experimenting with specialized software such as Adobe Photoshop. I have a deep and passionate love for creating and expressing myself through artwork on the computer. I one day aspire to have a profession in the field of digital art, such as a Graphic Designer. Because of this, I am very offended by the comments I hear from â€Å"traditional artists† that condescend digital art for its use of the computer as the artistic medium. When I hear comments that degrade digital artwork to computer-generated images, as though the computer itself designed the art I feel enraged and cheated. The other day a friend of mine ignorantly explained to me that she could, given the proper software, create her own masterpiece without any prior experience in digital art, as though anyone if given the proper software could instantaneously create masterpieces, when really there is so much more to digital art than computer software or the computer itself. It’s about one’s individual artistic talents. To me that would be the equivalent of saying that if I were given a canvas and a paintbrush I could instantaneously create a masterpiece, which I know is false and ignorant. Art is â€Å"the use of skill and imagination in the creation of aesthetic objects, environments, or experiences that can be shared with others† (Britannica). Digital art is a general term for a range of artistic works and practices that use digital technology as an essential part of the creative and/or presentation process. There are many different employment fields in digital art. A couple of examples are graphic design and web design. Graphic design is the process and art of combining text and graphics and communicating an effective message in the design of logos, graphics, brochures, newsletters, posters, signs, and any other type of visual communication. Famous Graphic Designer, Milton Glaser, says â€Å"to design is to communicate clearly by whatever means you can control or master. † A graphic designer would meet with his/her clients and discuss the type of visual communication the client is interested in. The client may provide a general idea for the design, but the creative options are left for the designer to decide how to best portray the message of the client. The designer would then either sketch out a design to scan on to the computer for further alterations or go directly to the computer software in order to design the desired product. The designer would then verify with the client for satisfaction of the product. Web Design is the art and process of creating a single Web page or entire Web sites and may involve both the aesthetics and the mechanics of a Web site’s operation although primarily it focuses on the look and feel of the Web site the design elements. â€Å"To be effective, the interfaces for online information systems must be as rich and flexible as the physical environments they replace. They must not only supply a direct path to reach the users goals, but must be able to accommodate different approaches to the task. This means that the interface design must not only organize the content for easy access, but must incorporate the right combination of technologies and interaction techniques to allow the user to work in their own style† (Quesenbery). A Web Designer would be sought out by a client in need of assistance in designing a website or website layout, usually for advertising and communicative purposes of the client. Like in Graphic design, the client may provide the designer with a general idea or guideline for the product, however, web designers must understand the dynamics of coding and html. Traditional art is understood to include things such as paintings, sculptures, and hand-drawings; basically any art which involves physical activity, usually of the hands. Famous Traditional Artists include: Leonardo DaVinci, Vincent Van Gough, and Andy Warhol. These artists use drawings and paintings as their forms of self expression which led to their innovative masterpieces: the Mona Lisa, Starry Night, and Pop Art, respectively. Traditional artists often look down upon the usage of the computer as the creative medium utilized when expressing oneself in art. Some believe that using a computer negates the creative ability of the artist and is the less credible form of art. Using computers in order to create art is sometimes seen as the easier method involving little artistic ability. â€Å"For artists diving into a new technology, it is a triple short-cut to mastery: you get a free ride on the novelty of the medium; there are no previous masters to surpass; and after a few weeks, you are the master† (Brand). There is a certain type of beauty in a hand-painted piece of art. The same is true for a masterfully drawn illustration. For this there is no substitute. Traditional art is the oldest form of art and could be considered the foundation of art. Many people consider this form of art to require the highest level of skill and creative ability, and that there is no other type of art form that can surpass it. There are a large number of people that believe this form of art is most vital, and that digital art simply shouldn’t be considered art due to the use of technology rather than their hands. Opponents of digital art argue that there is no skill in â€Å"pointing and clicking† on a computer screen. â€Å"I would rather choose the painting of a monkey over anything generated electronically, because I am more fascinated by the direct evidence of a mind at work than I am by the output of machines† (Glenn). Because of this belief, there is a good bit of animosity between the two different sects. Traditional artists feel as if they are protecting art in its truest form, whereas digital artists feel as if they are exposing the world to a newer and more advanced form of art infinitely full of possibilities. While traditional art is the older and more revered art form, that doesn’t mean that digital art is any less of an art. Both art forms require talent, precision, technique, and creativity from the artist. Digital artists are just as legitimate of artists as traditional artists. It is simply ignorant and petty to distinguish digital art as separate from true art in essence. Yes, computers are used as the medium for expression, however, like previously stated, that doesn’t mean that the computer creates the ideas and designs. The designs and creativity come from the artist and the computer is simply another way to release the idea from the artist’s mind, similar to a piece of paper or canvas. Digital art should be just as revered as traditional art because the amount of creativity and artistic ability is equal in both forms.

Celtic Tiger Irelands Growth Economics Essay

Celtic Tiger Irelands Growth Economics Essay The Harrod-Domar (CITE!!!) model developed in the 1940s was originally intended to analyse business cycles, but has since been adapted to economic growth. In the model, growth is dependent on the levels of labour and capital. As developing countries typically have a plentiful supply of labour, their growth is more dependent on physical capital and savings to create growth. Growth is achieved through net investment which will lead to capital appreciation thus producing higher levels of output and income; with higher levels of income there will be higher levels of saving. Thus, economic growth is dependent on policies and practices that will promote savings and/or create technological advancements that will decrease the capital-output ratio. However, this does not provide a complete picture and as a result, further models have since been developed. The traditional neoclassical growth model as developed by Solow (1956) and others builds on the Harrod-Domar model by including labour as a factor of production. However, the model allows little room to explain any impact other outside factors, such as foreign direct investment, may have on economic growth. In the model there are diminishing returns to capital and long run growth will be determined through exogenous factors such as technological advancement or population growth. Growth only lasts for a transitional phase until the economy reaches its new steady state level of output and employment. The model also states that growth rates are inversely related to a countrys income per capita; a poor country with similar endowments to a richer country will grow faster and eventually converge to the income per capita level of the richer one. Exogenous factors will only affect growth in the short term and the only way they can have lasting effects is via permanent technological shocks. H owever, Romer (1986), Lucas (1988) and Barro and Sala-i-Martin (1995) among others are credited with the development of the endogenous growth model which considers technological advancements as endogenous to the model. In his seminal paper on growth, Romer (1986) provides an alternative model for long term economic growth. He states that income per capita among developed countries does not necessarily converge with that of developed countries and that in fact there may be differing levels of growth. In particular, less developed countries can exhibit low levels of growth or may not grow at all. The factors that do lead to growth are not dependent on exogenous technological changes or differences between countries, but rather technology is endogenous to the model. Even holding technology, population and other factors constant, the most important idea is to ignore the traditional assumption of diminishing returns. Thus, long run growth will come from the accumulation of knowledge. Knowledge can demonstrate increasing returns and marginal product and can have limitless, constant growth. New knowledge will be transferred between firms and have positive externalities thus leading to increased growth. Ro mer (1986) argues that these positive externalities are able to explain growth and are necessary for an equilibrium state to exist. Similar to Romer, Lucas (1988) adds technology or human capital to the neoclassical growth model. The model in his paper also considers learning by doing as a way of capital accumulation. Population growth is held constant and both physical and human capital are included. Physical capital is taken from the traditional neoclassical growth model and human capital boosts productivity, where a stable effort level will lead to stable growth rates in productivity. For a closed economy, poorer countries will continue to stay poor, but will actually have the same growth rates as richer countries. Therefore, there will be constant growth rates and a steady distribution of income. For the open economy with free labour mobility and free trade of capital inputs, externalities and spillovers will lead to higher wages and higher skill levels, thus increasing the wealth of a country. Lucas also states that different growth rates amongst countries can be due to different levels of human capital grow th associated with different goods. Accordingly, it is evident that the same levels of technology and human capital are not available in every country as the neoclassical model assumes. Barro (1991) examined 98 countries to test the neoclassical idea that poorer countries will grow faster than richer countries. Rates of school enrolment were used to measure levels of human capital. The results find that GDP per capita growth rates are significantly positively related to initial endowments of human capital and based on these initial levels, growth is negatively related to the initial level of GDP per capita. These findings seem to support the neoclassical model that poorer countries will eventually converge with richer countries. However, this only holds for the poorer countries that have relatively high levels of human capital, meaning that the human capital level is above what would be expected given the relatively low level of GDP per capita. The paper also takes into account other factors, such as fertility rates, government expenditure, political instability and corruption, and price distortions. Despite these considerations, Barro concedes that the results are unable to explain the poor growth rates for countries in Latin American and Sub-Saharan Africa and suggests that other factors must be involved. Convergence or Regional Boom? From the theory, it is evident that convergence of less developed countries is not automatic and that many factors are responsible for economic growth. For the case of Ireland, there is debate as to whether or not it was simply a matter of delayed convergence or as a result of a regional boom. There are several papers arguing both sides, which will now be examined. Ó Grà ¡da (2002) argues that the economic performance of Ireland in the 1990s is mainly a matter of delayed convergence and making up for many decades of underperformance. He finds that Ireland underachieved compared to other Western European countries from the end of World War II until the late 1980s. Throughout that period, the 1960s provided a glimpse at possible future economic growth. If the period is extended to 1998, Ó Grà ¡da states that Ireland performed as expected given the low initial level of income per capita in the 1950s in order to achieve convergence. Thus, the economic slowdown evidenced at the time of writing, 2002, seems to be in line with convergence theory and to be expected as Ireland had reached its new steady state level. However, if the Celtic Tiger is simply a matter of delayed convergence, then why it took so long also needs to be examined. Ó Grà ¡da attributes this to poor fiscal policy practices and protectionism during the 1970s and early 1980s. Ó Grà ¡da and ORourke (1996) examine in detail why Ireland underperformed in previous decades relative to other Western European countries. Ireland experienced much lower rates of GDP growth as evidenced in Figure 1. The richest countries in 1950, Switzerland (CH), UK and Denmark are compared with the poorest countries, Greece and Spain. Ireland is the clear outlier and exhibits much slower growth than would be expected. They attribute the weak performance to a variety of factors particularly trade protectionist policies, heavy reliance on agricultural exports, and rent-seeking behaviour. In particular, Ireland failed to participate in the economic recovery of the rest of post WWII Europe by maintaining barriers to trade and waiting to open up the economy until the 1960s. However, they do not find that low levels of investment in human and physical capital to have been significant factors. Ó Grà ¡da and ORourke also suggest that Irelands proximity and reliance on the UK cou ld have led to slower growth rates since the UK, while not underperforming, was not experiencing particularly high levels of growth. Figure 1: Average annual growth rates, 1950-1988, for Western Europe Source: Ó Grà ¡da and ORourke (1996) Honohan and Walsh (2002) also take the view that Irelands economic performance can be attributed to delayed convergence. They argue that there was no productivity miracle but instead the boom was mainly due to a change in fiscal and monetary policies and an improvement in the labour market, which allowed productivity to finally catch up to the levels of the rest of Europe. While an increase in the population employed and demographic trends are unlikely to be repeated, Honohan and Walsh argue that if the policy changes had been made earlier, Ireland would have achieved convergence earlier. The argument that the increased growth was due to a regional boom is also considered. However, it is immediately discounted when Irelands population and economic growth is compared to that of individual states of the U.S., ranking 23rd out of fifty (Honohan and Walsh, 2002). Barry (2000) examines if Irish growth can be attributed to changes in policy and to what extent, which would support the convergence hypothesis. The most important factor is correct microeconomic and industrial policy, which Barry argues is the main reason for the delay in development. However, he finds that there are other certain characteristics necessary for convergence to be achieved, including a stable economy, an effective labour market, a developed market for exports, and sufficient levels of education. Thus, Barry seems to provide mixed support for the convergence theory. The delayed convergence hypothesis suggests that Irelands economic growth was simply a matter of catching up with the rest of the developed world. However, it has some shortcomings including not satisfactorily explaining why Ireland failed to converge sooner like the other peripheral EU countries of Spain, Portugal and Greece. Delayed convergence also does not give a role to the large increase in foreign direct investment as the theory does not suggest that anything other than sound economic and industrial policies are necessary. The theory also suggests that since convergence has been achieved, all that is required to maintain it is to ensure the same sound policies are followed. The regional boom theory, on the other hand, does take into consideration other non-traditional factors such as FDI and the boom of the US economy. It particularly focuses on an economys export base as key for economic growth. This theory also leaves room for unexpected shocks, such as a decrease in FDI or downturn in the US economy to have an impact on the economy, which in light of recent events, would seem to be more accurate. The regional boom theory will now be examined in more detail. A regional economy differs from a national economy in that there is free movement of labour in and out of the region (Barry 2002a). Krugman (1997) has suggested that Ireland be treated as such a regional economy due to the fact that it exhibits many of the features of a small region of a larger economy rather than a larger independent nation. Ireland is a small, extremely open economy and before the adoption of the Euro, had a currency that was mostly pegged to another. With the free movement of labour, wages are determined by those of the larger region, rather than within the country itself and job numbers are based on labour demand rather than labour supply determining job creation based on wages (Krugman, 1997). Also, adjustment to exogenous shocks will be dealt with differently by a country in a regional economy versus a sovereign country. If a shock occurs to the labour market in an open economy, labour will simply leave, rather than a wage adjustment occurring and new industrie s arising, as in a closed economy. Krugman argues in favour of the regional boom hypothesis because of the large increase in the export economy and the increase in jobs in the services sector as a result. The majority of the increase in exports during the Celtic Tiger was in foreign-owned companies. Barry (2002b) examines Irelands economic performance and the factors that lead to convergence compared to the other peripheral EU countries of Spain, Portugal and Greece. Ireland, unlike the other countries, failed to reach EU average levels of growth until much later. Unlike previously argued by Ó Grà ¡da and ORourke, Barry finds that this was not in fact due to macroeconomic policies, as all four countries had similar practices and in fact, Ireland was the most export oriented country of the group, as shown in Table 1. Barry finds the main difference between Ireland and the rest is actually in labour market operations. Ireland experienced high unemployment, high emigration and increased wages from the 1960s to the late 1980s. The relatively high wages meant domestically owned labour-intensive firms were unable to compete with foreign-owned firms as high levels of FDI, particularly in the manufacturing sector, started to enter the economy. Thus, Barrys findings seem to support the regional boom hypothesis with exports and FDI playing a key role in explaining Irish growth. Table 1: Exports of goods and services as a percentage of GDP Barry (1999) argues that in order to achieve high levels of growth in a regional economy, a nation needs to be internationally competitive in the non-agricultural sector, as increased capital in an agriculturally based economy will lead to more emigration. He argues that industrialisation policy is crucial, whereas proponents of the convergence theory, including Ó Grà ¡da consider this a distortion with Ireland merely switching from import-substitution industrialisation to export-substitution industrialisation (Ó Grà ¡da, 2002, p. 8). However, others, such as Barros and Cabral (2000) and Fumagalli (1999) suggest that in order to industrialise, such a distortion is necessary. Hill et al (2005) consider both theories and come to the conclusion that perhaps it cannot be explained solely by one theory, but rather a combination of the two. They argue that the necessary conditions for convergence were in place by the 1970s, but that Ireland suffered as a result of poor policy practices from 1973-1986 and global economic downturn. However, this is not sufficient to explain the economic growth fully and thus, Hill et al also incorporate the regional perspective. Labour and capital inflows were as equally important as sound policies in Irelands growth. Ireland was able to attract foreign investment, create more and higher quality jobs and as a result, the levels of labour force participation increased. They cite increases in employment and job creation as extremely important in the Irish case, which implies a larger role for government than in convergence theory. Government needs to do more than just maintain proper fiscal policy and must ensure there is a compet itive environment for business. Ó Grà ¡da (2002) also considers the regional boom hypothesis, but finds it overly optimistic for proposing that high growth rates could be sustained without sustained increases in labour. However, both Barry (2002c) and Dascher (2000) develop a model of a regional boom economy with Irelands specifications and find that labour inflows will decline as infrastructure and housing become more congested. Yet, growth can still continue without more labour if sufficient stocks are maintained and there are no negative exogenous shocks to the larger regional economy. The regional boom theory also suggests that just because Ireland has caught up to average EU levels, it does not mean that further growth cannot be achieved as convergence theory would suggest. Indeed, if Ireland could continue attracting FDI and supplying labour, growth should still be able to continue, despite convergence already being attained. Blanchard (2002) comments on Honohan and Walshs 2002 paper and argues that convergence theory is not the appropriate model to describe Irelands growth, but rather endogenous growth theory is. Instead of the Solow model which has diminishing returns to capital, he suggests the AK model of economic growth is more appropriate, where output and capital accumulation move together because of consistently increasing employment levels. Thus, the economy will move towards producing more capital intensive goods. This is similar to the regional boom perspective where increases in labour and capital will stimulate each other to create more growth than would be possible in a national economy. The regional boom theory, unlike convergence theory, allows for negative exogenous shocks to affect growth. For example, a downturn in the global economy or a withdrawal of FDI in favour of Central and Eastern European countries, would significantly impact the Irish economy. However, convergence theory would consider these to be temporary shocks and since no policy changes have been made, they should not affect growth. Conversely, the regional boom theory allows for the possibility that these could be permanent shocks with tremendous negative effects, including even a return to pre-Celtic Tiger levels of unemployment and emigration and the undoing of the catch-up. Overall, both perspectives offer valid reasons to explain Irelands economic growth however, in view of the recent financial crisis and Irelands sharp economic decline, it may be more appropriate to view the progress of the 1990s in terms of a regional boom. While Ireland had relatively similar policies to Greece, Spain and Portugal, it did not catch up with European averages in the 1960s like the others did. Thus it seems perhaps more suitable to view Ireland in terms of part of a regional economy tied to the UK for that time period and again connected to the US during its boom years starting in the late 1980s. This theory also suggests that industrialisation strategy, creating an export-based economy and attracting FDI are the key factors for growth, rather than just appropriate macroeconomic policies. Both of these theories can provide useful lessons for other developing countries seeking to follow in Irelands footsteps of rapid economic growth. Lessons from Ireland for other countries There are many papers discussing the Irish economic boom, its causes and what lessons can be learned for other countries seeking to achieve such rapid economic growth. Acs, et al (2007) examine whether the Irish miracle could be duplicated in Hungary. The paper focuses specifically on the impact of FDI and how it affects entrepreneurial activity. While they find significant differences between the two, the results do suggest several policy outcomes based on the Irish experience that Hungary could implement, including boosting human capital, improving the quality of FDI and encouraging more enterprise development. Andreosso-OCallaghan and Lenihan (2005) focus on economic policy and whether Ireland can provide a good example of economic development for NMS, with particular regard to developing small and medium sized enterprises (SMEs). They find that Ireland does indeed supply a useful model for others to follow. Developing the growth of SMEs is important for overall economic growth and it was a key focus of Irish industrial policy, particularly after 1993. Andreosso-OCallaghan and Lenihan suggest that adopting Irish policies, such as dedicated development agencies, and proactively evaluating industrial policies, would help SMEs grow in NMS. However, they also warn of the dangers of relying too heavily on FDI as some would suggest Ireland has done. Hill et al (2005) examine the Irish experience in great detail, beginning with considering whether convergence theory or regional boom is more appropriate. They then recognize that for a small, open economy to develop and create quality jobs, the country needs to be competitive in the following four areas: context for firm strategy and rivalry, demand conditions, factor (input) conditions and related and supporting industries (Hill et al, 2005, 5). There are also corresponding policy initiatives for each of the four areas: tax policy, educational system, regional economy and institutions and consumer protection laws. They then analyse these four areas for Ireland and how policymakers have performed. The economic conditions and performance of Arizona in the United States is then compared to Ireland, to see what lessons Arizona could learn and if they could replicate Irelands growth. The results show that Arizona shares some similar characteristics with Ireland and thus has some opport unities for similar growth. Bailey et al (2009) examine industrial policy in both the Celtic Tiger and East Asian Tiger countries to see what potential lessons African nations could learn. They focus primarily on the Irish experience and provide several reasons why Ireland is a better example for Africa, including that most African countries, like Ireland are small and open, Ireland had a more corporatist experience than in East Asia, and that in some East Asian countries the rights of trade unions were suppressed. Bailey et al take a holistic approach to analysing Irish industrial policy, instead of focusing solely on policies that promote just FDI, or developing SMEs or Research and Development (RD), and then apply it to Africa. They find that Africa can learn from the policy examples and mistakes of Ireland and East Asia. In another paper, Bailey et al (2008) examine and compare the Irish and Hungarian experience, with particular focus on industrial policy and then determine what lessons other Central and Eastern European nations could learn. Hungary is selected as a comparison because it has closely followed the Irish model and has been cited by others, including the World Bank and the OECD, as a potential example for other developing countries (Fink, 2006). Like previously mentioned, Bailey et al implement a holistic approach to industrial policy. They assess both countries policies and find that attracting FDI has had the most significant impact on growth. However, they find that there are limitations to FDI based growth and thus emphasize the need to also develop domestic industry. Fortin (2000) discusses and analyses the characteristics and causes of the Irish economic boom. It is divided into two main sections, a long-term productivity boom and a short-term employment boom. Key lessons as well as appropriate policies for other countries, particularly Canada, are identified based on the Irish experience. These include encouraging free trade and investment, industrial and tax policy conducive to business and ensuring high levels of education. Fortin examines Canadas recent economic performance and discusses what changes Canada can implement based on these lessons from Ireland. Although not all Irish policy is applicable, Canada can emulate the policies of fiscal discipline, openness and free trade. Hansen (2006) examines the Irish determinants of growth individually and assesses whether Latvia could repeat Irish success. The approach is more holistic and based on the methodology of Mancur Olson (1996) and Hansen states that this approach could be applied to any of the other New Member States of the EU. The results show that Latvia has already implemented many of the same policies that contributed to the Irish boom. Other factors are considered to be specific to Ireland, and consequently unable to be replicated. Overall, Hansen suggests that Latvia cannot adopt much more from Ireland and goes so far as to suggest the Irish case is no miracle as others have proposed, but rather a combination of sound policy, timing and a bit of luck (2006, 13). With the exception of Hansen (2006) and Fortin (2000), most of the literature on Irish growth and lessons for other countries focuses on specific determinants or policies rather than taking a holistic approach. Therefore, this paper seeks to follow this example and examine the Irish boom in detail and then apply it to country. The individual determinants of Irish growth will now be examined in more detail. The Irish Experience Macroeconomic Stability Convergence theory cites effective policy as an instrumental part of economic growth and indeed Irelands failure to catch up until recently has been attributed to this. In the immediate post-War period, much of Western Europe began to recover and experienced economic growth. However, in the 1950s, Ireland still relied heavily on agriculture, had high levels of emigration and protectionist policies. In the 1960s, the economic conditions began to turn around, with better macroeconomic policies being adopted. As Honohan and Walsh (2002) state, these include pegging the exchange rates to the British pound, managing a reasonable balance of payments deficit, conservative fiscal policy of borrowing only to finance public capital investment and relatively low tax rates. Previous protectionism was dropped and foreign direct investment was encouraged through grants and tax exemptions. Ireland entered into the Anglo-Irish Free Trade Area Agreement in 1965 and also decided to apply for membershi p in the European Economic Community (EEC), hence opening itself up for more trade. It would seem that during the 1960s Ireland was poised to catch up with the rest. However, in the 1970s, with the global oil crisis and inappropriate policy response, Ireland was unable to capitalise on the progress made in the previous decade. In an attempt to recover from the crisis quickly, expansionary practices were pursued, which caused real wages to escalate and crowded out productive growth. Consequently, in 1987 there was public debt in excess of 130%, an unemployment rate of about 16%, inflation level around 9.5%, high interest rates and there was an average growth rate of 3.2% during the 1980s (Hansen, 2006). All of these elements were not conducive to economic growth and as a result, Ireland faced a severe recession. Accordingly, it became evident that economic policy changes needed to be made and the general election of 1987 heralded the beginning of a more stable macroeconomic policy. The new government, employers and trade unions developed a social partnership known as the Programme for National Recovery to reach an agreement on wages, taxes, and other social welfare improvements. The government offered lower income tax rates in exchange for wage moderation by the trade unions. As a result, the labour market became more competitive and effective and more employment opportunities were created in both the services and manufacturing sectors. Fiscal Policy Fiscal policy from the 1970s to late 1980s was quite varied and went from being expansionary in 1977, to taxing and spending in 1981 and then to cost-cutting in 1987. These changes coincided with different governments in power and corresponding different policy goals. It was not until 1987 that appropriate fiscal policy was adopted for the economic situation and as a result, stabilisation began to occur. The government focused on reducing the budget deficit, which had reached levels between 6.1% and 8.2% of GNP between 1978-1987 and the debt to GNP ratio was a massive 131.4% in 1987 (Leddin and OLeary, 1991). By the end of 2001, the debt to GNP ratio was only 38% (Honohan and Walsh, 2002). Government spending also decreased from about 46% of GNP in 1987 to 37.2% already in 1991 (Leddin and OLeary, 1991). (For graphs see H and W). In addition to cutting spending and reducing the debt, the government cut tax rates. Comparing 2001 and 1985, the top income tax rates decreased from 65% to 42%, corporate tax rates fell from 50% to 16%, capital gains tax was reduced from 60% to 20% and capital acquisitions tax fell from 55% to 20% (Honohan and Walsh, 2002). From the 1960s until 1981, Ireland has a 0% tax rate on export profits. However, such low tax rates drew complaints from other EU members and, as a result, Ireland was forced to raise it to 10% in 1981. This preferential corporate tax rate was put in place for profits in the manufacturing sector, internationally traded services, and activities in the Dublin based International Financial Services Centre (IFSC). Again, due to complaints, Ireland agreed to raise rates to 12.5% in 2003 for manufacturing and internationally traded services and in 2005 for IFSC activities. It is generally recognized that such low corporate tax rates were instrumental in attracting inte rnational companies to conduct business in Ireland. Gropp and Kostial (2000) estimated that if Ireland had increased corporate tax rates to the EU average from 1990-1997, there would have been a loss of more than 1.3% of GDP per year in net FDI and a 0.8% loss of GDP in revenue. As a result of Irelands success, lowering of corporate tax rates has also been adopted by other countries, perhaps most significantly, Germany, who reduced their tax rate from 40% in 2000 to 25% in 2001 (Walsh, 2000). Despite this, it is also important to note that the effect of low corporate tax rates on attracting FDI may be distorted as a result of transfer pricing. This means that foreign-owned companies may use pricing adjustments to allocate a larger share of their profits to their Irish operations and thus pay less taxes. This may be responsible for the large gap between GDP and GNP in Ireland during the 1990s. In 1998, GDP surpassed GNP by 14.3%, well higher than any other country in the OECD (Walsh, 2000). However, Walsh also states that the effects of transfer pricing on the measurement of economic growth should not be exaggerated (2000: 225). Generally, GNP is used to measure the performance of the Irish economic boom because of the high levels of FDI. Overall, corporate tax rates have played an important role in attracting FDI, which in turn has been a significant factor in Irelands growth and will be examined more fully below. Monetary Policy Ireland decided to join the European Monetary System (EMS) and an adjustable peg system in 1978 and end its parity with the pound sterling in 1979. Although the decision was made more for political rather than economic reasons, there were definite economic implications. Throughout the period of EMS, many exchange rate readjustments occurred and for most of them the Irish pound was devalued against the German Deutschmark, which allowed Ireland to gain wage competitiveness. Overall, though, Irish membership in the EMS was not as successful as hoped and served to increase uncertainty and discourage anti-inflationary practices. However, joining EMS laid the groundwork for signing the Maastricht Treaty in 1992 and thus the agreement to join the European Monetary Union (EMU). As a result of joining EMU and giving up their independent currency, Ireland experienced a onetime decrease in interest rates.

Toys :: essays research papers

Toys"R"Us INTRODUCTION In this assignment I have chosen to focus on explaining what kind of company Toys"R"Us is, giving a brief, short summary of the firms history, their corporate responsibilities, what their competitive advantages are and how they implement their strategies through retailing and merchandise. I also found it relevant to explain the market situation in the toy-industry and what the trends are, for understanding what other difficulties that are important to consider in order to survive. SHORT HISTORY In 1948, a company which totally dedicated themselves to children and their needs, was formed by Charles Lazarus in Washington DC. This was a perfect timing in relation to the post-war baby boom period, the demand for accessories for children was high, and the main purpose for the company was to carry furniture for babies. After some time, he heard customers saying phrases like "I need a toy for my baby", so he began selling toys aswell. Mr.Lanzarus tried to give his customers what they wanted he understood early that this was the best way to keep his customers. In 1957, he opened his first toy supermarket, and with specialized retailing and the off-price positioning, he revolutionized the concepts in the pre-mall and discount days. After this success, he sold his business to Interstate, which later went bankrupt. Mr.Lazarus rejoined the company and made it profitable, and in 1978 it became a public company; Toys"R"Us,Inc. DIVISION OF THE COMPANY Today, Toys"R"Us is a $11 billion dollar company and they have over 1500 stores over the whole world. The company is divided into six different divisions: Toys"R"Us US Strongly focuses on strengthening the shopping experience by providing better service and better merchandise. There are around 680 locations of Toys R Us in the US. Toys"R"Us International Is licensed, franchised and operated through over 570 locations in 29 countries outside the US Kids"R"Us Consists of more than 375 locations where children ´s clothing and toys are all under one roof, and oughts to offer all of the latest fashions and of course high quality merchandise. Imaginarium Toysrus.com Developed in alliance with Amazon.com in order to offer an online shopping service. Babies"R"Us Offers everything parents need for their babies, like furniture, bedding, car seats etc. All products can be purchased under one roof By organizing their organization into these different divisions, it gives them a competitive advantage because it makes it easier to focus in the certain areas. These divisions are very different from each other, and needs specialization in all the different aspects.

Differing Ideas of Herbert Hoover and Franklin Roosevelt on The Great Depression :: American History

The Great Depression: A look at Herbert Hoover and Franklin Roosevelt Hoover and Roosevelt had very different ideas on how the Depression should be handled. This was almost entirely a result of two integral differences in their lives. Hoover was a Republican, and had basically worked his way through life, while Roosevelt was not only a Democrat, he had basically been born with the proverbial silver spoon in his mouth. As one can easily see, in many ways these two are complete opposites. If one looks at both their upbringing and their political affiliation, it seems that Roosevelt's and Hoover's policies must have been different in a many ways. Hoover was brought up in a poor family, and worked almost his entire life. His father was a blacksmith and they lived in a small house. However, through hard work his father was able to move the family into a much bigger house soon after his birth. He learned early in his life the importance of self- reliance and hard work. In 1880 his father, Jesse, died and four years later his mother passed on. At age 11 he went west to Oregon to live with his Uncle. His uncle worked with him, and later became rich. Hoover had endured a great many hardships in his life, and knew what it was like to do without. With Hoover having and education and a past like his, one would think that he would know how to run the country like a business, so that it would stay afloat. But when confronted with the Depression, he repeatedly cut taxes. Hoover was basically a hard working Republican, and a self made man. He graduated as a mining engineer from Stanford. After capably serving as Secretary of Commerce under Presidents Harding and Coolidge, Hoover became the Republican Presidential nominee in 1928. He said then: "We in America today are nearer to the final triumph over poverty than ever before in the history of any land." His election seemed to ensure prosperity. Yet within months the stock market crashed, and the Nation spiraled downward into depression. Roosevelt, on the other hand, had been born into a very rich family. He grew up with education at Harvard and Columbia Law School, and had everything basically taken care of for him in his childhood by his mother. This gave him a sense of security, of being able to do anything he wanted, most simply because he didn't fail early on.

Alfred Doolittle’s Lower Class Representation In Pygmalion Essay

Alfred Doolittle’s Lower Class Representation in Pygmalion Realist author George Bernard Shaw’s Pygmalion challenges England’s upper class to realize the pointlessness of their flamboyant lifestyle and pokes fun at this society. Shaw writes to expose the differences in the lifestyles of the social classes and how different characters react to their status. Shaw uses Alfred Doolittle and his social status to depict a character that freely accepts his status and his reaction to eventually moving up social classes. Because of his dislike of â€Å"middle class morality†, appreciation of and the freedom that accompanies his lower social status, and his eventual climb into the upper class, Doolittle presents a desire to remain in â€Å"undeserving poverty.† Doolittle, throughout the play, demonstrates a dislike for â€Å"middle class morality.† Before he becomes rich, Doolittle defines middle class morality as â€Å"an excuse of never giving me an ything.† Doolittle represents a dislike for middle class morality and wishes for â€Å"cheerfulness and a song† like those in the upper classes. Doolittle believes â€Å"middle class morality claims its victims.† Eventually Doolittle becomes a â€Å"victim† when he is given money to lecture. Doolittle becomes apart of the upper class but dislikes being viewed as a member of this society. Doolittle says that he believes lower class men look at him and envy him. Doolittle says he, in fact, will look down to the lower class â€Å"helpless and envy them.† Doolittle does not like the upper classes and â€Å"middle class morality.† Throughout the play, Doolittle presents characteristics that suggest he accepts his current lower class social status and enjoys the freedom associated with his status. When asked by Colonial Pickering if he has no morals, Doolittle Stokes 2 establishes his status and distance from upper class characteristics by replying, â€Å"I can’t afford them, Governor.† Doolittle comments to Henry Higgins that â€Å"undeserving poverty is my line.† Doolittle represents an individual who lives in poverty and accepts his current placement in society. He continues by saying, â€Å"I’m undeserving; and I mean to go on being undeserving.† Doolittle does not want to be apart of the upper class society because so much is expected of them. Doolittle is extremely happy being in his current social status. He says, â€Å"They (â€Å"millionaires†) don’t know what happiness is.† Doolittle believes the upper class is unhappy because they are living an imaginary life. Doolittle does not wish to be apart of the upper class because he would be expected to speak and act properly in order  to retain his status within the class. Doolittle, an â€Å"undeserving† member of the lower class, is comfortable and happy in his lower class social situation. Doolittle suddenly encounters money and is thrust into upper class society. Doolittle receives a share in a trust and is required to lecture for â€Å"three thousand a year.† Doolittle freely accepts the financial gain but soon realizes the social obligations that accompany it. Doolittle says, â€Å"I have to live for others and not myself.† Individuals who seek to take advantage of his newfound wealth surround him. Doolittle believes that â€Å"everybody touches me for money.† Doolittle sights one example of how individuals with money are treated better than those without money. Before he had money doctors would â€Å"shove† him out of the hospitals. Once the doctors realize Doolittle has money they â€Å"can’t live unless they looks after me twice a day.† Doolittle, who retains the personality of a Stokes 3 member of the lower class, is upset because people are using him for money. Doolittle feels his is now â€Å"expected to provide for everyone.† Doolittle says he â€Å"was happy before† he got the money. Doolittle, who is propelled into the upper class, recognizes people are using him. He wishes and strives to remain the same person he was before he encountered money. Doolittle’s dislike of â€Å"middle class morality†, appreciation of and the freedom that accompanies his lower social status, and his eventual climb into the upper class presents his desire to remain in â€Å"undeserving poverty.† Doolittle, a character who emerges financially from poverty to being rich, strives to maintain his lower class status and the way of life they accompanied this status. Shaw, by using Doolittle, successfully presents a character that is happy with and comes to appreciate his status in the lower class society and wishes to remain in that social class.