Financial Crisis Across The World Since Currency Essay

There has been a financial crisis across the world since currency came about. It started with the barter system which allowed people to trade goods and services, but this sometimes proved to be more difficult than beneficial. Then around 600 B.C., coins and currency came about. Since then currency went from being precious metals to paper money. With the development of currency, came international trade. â€Å"Banks and the ruling classes started buying currencies from other nations and created the first currency market. The stability of a particular monarchy or government affected the value of the country s currency and the ability for that country to trade on an increasingly international market. The competition between countries often led to currency wars, where competing countries would try to affect the value of the competitor s currency by driving it up and making the enemy s goods too expensive, by driving it down and reducing the enemy s buying power (and ability to pay for a war), or by eliminating the currency completely† (Beattie, 2007). Money gets its value by being a medium of exchange, a unit of measurement and a storehouse for wealth. Money allows people to trade goods and services indirectly and understand the price of goods. We can see the evidence of financial crisis throughout time with the â€Å"credit crisis of 2007-2008† and the â€Å"Russian Crisis of 1998† and its global impact. Although Russia was experiencing economic growth in 1997 â€Å"†¦the country’s fixedShow MoreRelatedFinancial Crisis Across The World Since Currency Essay2225 Words   |  9 Pagesbeen financial crisis across the world since currency came about. It started with the barter system which allowed people to trade goods and services but this sometimes proved to be more difficult than beneficial. Then around 600 B.C., coins and currency came about. Since then currency went from being precious metals to paper money. With the development of currency, came international trade. â€Å"Banks and the ruling classes started buying currencies from other nations and created the first currency marketRead MoreFinancial Globalization And The Financial Crisis1274 Words   |  6 Pages The term financial globalization can be defined as the integration of various financial markets of countries across the world. In other terms, it means the mobility of finance across various countries without encountering any barrier. Therefore, financial liberation is not sufficient enough parameter for globalization. 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The global economic crisis started in the middle of 2007 and lasted about five years. The crisis was triggered by the bursting of a housing bubble (Mishel, Bivens, Gould, Shierholz, 2012). It was characterized by massive withdrawal of investors from markets as a result of reduced confidence, volatile world stock markets and reduced liquidityRead MoreFinancial Deregulation and Capital Control1283 Words   |  5 Pagesï » ¿Financial deregulation and capital control The financial markets for a long time were regulated following the aftershocks of the global recession which affected several economies across the globe. It was until the 1980s that the federal government passed the Deregulation and Monetary Act which was aimed at providing deregulation for the financial institutions. This gave the banks the flexibility to compete and extend their services at a much easier and faster way in a very competitive market andRead MoreThe Growth Of The Eurozone Essay1523 Words   |  7 PagesLooking at the development of the Eurozone almost 15 years after the Euro introduction, the gross domestic product (GDP) of the Eurozone has only minimally (0.6%) increased in 2015 compared to 2007. Further, a pattern of divergence can be observed across the Eurozone. There are some countries which have experienced modest growth (i.e. Germany) and others that show a rather constant decline (i.e. Greece). The overall productivity has developed worse than expected, and i s with an increase of only 0Read MoreGlobal Financial Crisis By The Wall Street Crisis959 Words   |  4 PagesThe purpose of this report is to study Global Financial Crisis 2008.This study is inspired by the Wall street crisis and it covers why’s and after effects of the crisis. After this crisis many of the roots causes were observed like speculation, fragility of the system, greed of the managers which adversely affected the market. The global financial crisis of 2008 is a major ongoing financial crisis, the worst of its kind since the Great Depression (The Great Depression originated in the United StatesRead Moreâ€Å"the Rapid Expansion of International Financial Market Since Early 1980s Have Integrated the World Economy†. Discuss.1243 Words   |  5 Pagesâ€Å"The rapid expansion of international financial market since early 1980s have integrated the world economy†. Discuss. The international financial system is a structure of markets within which organizations and individuals trade to support economic commitments made across national borders where buyers and sellers participate in the trade of assets such as equities, bonds, currencies and derivatives. Financial markets are typically defined by having transparent pricing, basic regulations on tradingRead Moreâ€Å"the Rapid Expansion of International Financial Market Since Early 1980s Have Integrated the World Economy†. Discuss.1252 Words   |  6 Pagesâ€Å"The rapid expansion of international financial market since early 1980s have integrated the world economy†. Discuss. The international financial system is a structure of markets within which organizations and individuals trade to support economic commitments made across national borders where buyers and sellers participate in the trade of assets such as equities, bonds, currencies and derivatives. Financial markets are typically defined by having transparent pricing, basic regulations on trading

International Legal and Ethical Issues in Business Free Essays

In this paper I will discuss environmental regulations and labor laws in place in Thailand and Singapore. This paper will show that while Singapore seems to have stricter environmental regulations in place in it’s country, the labor laws in Thailand seems to protect its citizens better with better work hour regulations and wage requirements. Singapore’s labor laws can stand to be revisited so as to keep the working citizens safe from greedy business owners. We will write a custom essay sample on International Legal and Ethical Issues in Business or any similar topic only for you Order Now What are Thailand and Singapore’s environmental regulation levels? Thailand’s government has been known to keep loose environmental standards for investors. Many foreign investors have been used to Thailand’s loose environmental regulation, however, the country’s government is now struggling to deal with tough new environmental regulations. An upheaval from residents in some of the more industrial areas of Thailand has set in motion a movement to toughen environmental regulations, which has many companies like Ford thinking of relocating some of its manufacturing plants. Singapore, however, has very strict environmental regulations in place, with an extension of liability even reaching to directors and officers of the companies that operate in Singapore. The government in Singapore has passed strict laws to ensure that corporations operating in the country do not compromise the health of their people. Violators of the environmental regulations in Singapore may even face mandatory jail time if found guilty of participating in activities that are deemed harmful to the environment and the people living in the area. What kind of legislation has been passed in the country regarding working hours and wages? The Department of Labor in Thailand enforces labor laws in the country. Currently, Thailand has some pretty good labor laws in place to protect it’s citizens. The most hours a person can work per day in Thailand is 8 hours per day or 48 hours per week. If the job is deemed hazardous, the workday is considered complete after 7 hours, or 42 hours per week. Employees must be paid overtime pay at a rate of 1. 5 to three times the normal hourly rate when the maximum amount of hours has been surpassed. The minimum daily wage rate varies, depending on location. Some provincial areas can pay a daily rate of 137 baht, or $3. 43 U. S. dollars, whereas the daily rate can be 175 baht or $4. 38 U. S. dollars in Bangkok. Office and management staff working full-time hours can earn about 15,000 baht (US $375) to 150,000 baht (US $3,750) per month, depending on the level of management and experience. Singapore does not have any regulations in place with regard to a minimum wage for it’s workers. The Employment Act in Singapore only stipulates that workers be paid timely, which is translated to mean at least once a month. Workers who make less than 2,000 SGD per month may not be required to work more than eight hours a day or 44 hours per week. Employees working in management positions or higher may be permitted to work longer hours, depending on what terms are outlined in their contract. Do you think the country’s environmental regulation is sufficient? Explain. It seems Singapore has sufficient environmental regulations in place, what with punishments which include jail time for those found guilty of infraction of the regulations. However, I feel that Thailand still has a long way to go in establishing effective environmental regulations. The people of Thailand are still fighting to get proper regs in place to keep their environment and their people safe and healthy. It seems that Thailand is reluctantly coming around, however, the threat of losing many of its foreign investors because of new environmental regulations might hinder any real progress. Do you feel that the country’s hour and wage legislation is ethical? Explain. Thailand’s hour and wage regulations are adequate; however, Singapore’s hour and wage regulation still leave way too much room for employees to be taken advantage of by their employers. The fact there is no national minimum wage requirement leaves too much room for employers to underpay their employees. There is also no regulation in place to limit the amount of hours per day an employee can work. There is also no regulation for overtime pay. The lack of regulation in place to determine how many hours per day or week a person can work before overtime pay is required leaves the employees at the mercy of their employers. References http://online.wsj.com/article/SB10001424052748704182004575056421383885014.html http://www.business-in-asia.com/thai_labor_law.htm http://www.ehow.com/list_5989991_labor-laws-singapore.html How to cite International Legal and Ethical Issues in Business, Essay examples

Case Study of Fletcher Building-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Leadership Challenges faced and experienced by Jane McLaren. Answer: Introduction Learning culture is seen to be having an integral role in determining the health of an organisation. In general, learning culture is defined as set of organisation values, processes, conventions and the practices which are seen to encourage the individuals and organisation as a whole to increase overall competence, performance and knowledge. The high impact learning culture is simply described as the initiative which inculcates positive learning culture in Organisation. The organisation seen to be having high impact learning culture are better at skill development and talent development. As per the study conducted by Bersin Associates named High-Impact Learning Culture: The 40 Best Practices for Creating an Empowered Enterprise that a strong foundation for learning culture in a workplace in to be having significant improvement in terms of employee productivity, customer needs, meeting future demands, quality of products and market share leadership values (Francalanza et al., 2016). The study has been related to the case of Fletcher building which underwent several problems of employee motivation due to the selling of Pacific steel group and at the same time adoption of changeability theories to gain more insight into the leadership team and contribute to the changing of the experience to the other workers. Leadership challenges faced and experienced by Jane McLaren The leadership challenge faced by Jane Mc Laren has been seen to be evident as early as from 2014 during which the manufacturing manager was seen to be handling various types of challenging task in terms of leading a major steel plant put for closure. The main challenge was seen in terms of maintaining the overall process your of closure and at the same time maintaining a high amount of production capability and safety standards. The main form of challenge was further seen in terms of impact on the plant staff. After 50 years of producing steel, the company was seen to be shipping its business policy by selling of Pacific steel group. The important factors requiring the deal was seen in terms of continuing producing steel and in the time the new owner (BlueScope) was able to build a new plant (Koh et al., 2013). Several workers were seen to be having a long service and high rates of pay with very limited steel manufacturing job opportunities. The main challenge was seen in terms of maintaining a high level of motivation along with high performing manufacturing staff during the entire exposure procedure. Change management issues The immediate priority of the change management issues were seen in terms of maintaining plant leadership team. These managers along with the shift leaders were seen to be in the front line associated to motivating and performance and ensuring that the staffs was fully engaged in supporting and operating activities. The changeability aspect needed to target the workshop with the plant leadership team and have a new insight into the leadership team which was also experiencing a major change. It has been further discerned that the changeability fully worked with the manager and staff to build their change leadership ability along with providing practical tools for helping and navigating of the challenging period of change. The use of the changeability with the managers and shift of leaders fear positively adjusted with the news of closure. The several types of challenges in the change management issues they are considered with helping the managers and the shift leaders for dealing with the initial uncertainty and maintaining a steady motivation among the employees throughout the buyout process (Sun et al., 2014). Ethical and professional issues encountered Despite of the various measures of changeability, the main aspect of professional and the ethical issue has been considered with the sudden plan of Fletcher building to sell the Pacific steel group. The various types of ethical and the professional issues were further identified in terms of external facilitators which meant that the company will be able to target the issues of real importance and accept the change process. The main form of the professional issue was seen in terms of giving the immediate priority to the plant leadership team. It has been further discerned that the plant closure was confirmed with the business need and this needed to further focus on maintaining a steady performance. The professional challenges of the leaders were seen with the objective of leading their staff throughout the date of closure. In addition to this, following of the closure there has been an urgent need to create change plan where Jane was clear of the importance of explaining her team to create a plan together. Providing external support to the staff has been discerned as the main professional issue which needed to ensure that Jane was able to be strong and consistent throughout the production of food and in most difficult situations imaginable (Sunet al., 2014). Organisation cultural issues established forged with development in the company There have been several factors which has been able to prove that various types of internal and external changes in Organisation have several challenges. The main form of the internal issues in the organisation has been applied with theories related to blind spots, political self-interest and emotions, poor organisational routine, structure of inertia and full implementation of project management. In addition to this the different types of external factors has been seen to be having a direct influence on the staff of the organisation. The external dependencies have been seen with companies creating value is often challenging the overall operations of an organisation. The main form of the external challenges has been discerned in terms of failure to keep up with the changes in a disruptive technological environment, Reliance and dependency in Organisation for crucial resources and assets, political and legislative of demands, underestimation of the increasing competition and environme ntal volatility. The organisational changeability issue has been defined with the model which shows the sum of internal capability, external conditions and leadership needs to changeability (Belding et al., 2015). Internal capacity+ External conditions+ Leadership = Changeability Henceforth, it needs to be understood that any sort of change in the internal capability or external conditions will bring a significant amount of change in the development of the company (Van Heerdenet al., 2016). Leadership and management contribution to the learning culture and high performing team Following of the closure process, it was important to have an urgent planning for creating a plan. Based on the given depictions of the case study, changeability was able to target the workshop with plant leadership team which included gaining insight of how the leadership team we are experiencing the overall change. The different types of resulting feedback was evaluated in terms of psychologist which enabled the changeability to make a number of recommendations for focusing, improving and strengthening of the overall change plan. The changeability among the workers with the staff and the management are further able to build the change leadership capability and provide an overall practical tool to help navigate and challenged the period of change (Koch et al., 2014). The external support for both staff and managers were able to deal with the initial uncertainty which provided Jane to ensure a strong and consistent leadership throughout the change process. The result of how the chang e process with the meeting of the challenging key performance indicators and the staff were able to deliver high production of even during difficult circumstances (Hagemo et al., 2013). Application of relevant theories, techniques and models The application of the relevant model has been seen with the theory of changeability. It has been further discerned that the technical changeability is discerned as the ability of manufacturing and, building and use of information technology to adapt to the fast changes are related to the product quantities and processes. The different types of facial changeability issues have been further presented with factory layout and layout of the building at site. The organisational changeability in particular has been described as the ability of quickly adapting to the changes in business structure or business organisation management process. Based on the Wiendahl model, the changeability enablers has been discerned informed of five main aspects namely universality, scalability, compatibility, modularity and mobility (Benevolo et al., 2016). The university aspect has been described with the design for requirement as per the designated product or technology. The compatibility is seen as interconnectivity of the materials of information or energy. The scalability aspect is seen as a special and the technical changes along with several changes in the staff. The standardisation of the unit, elements has been described with the mobility and mobility which has been related to the concept of unrestricted freedom of objects. The diagrammatic representation of the changeability enablers is depicted below as follows: Figure: Changeability Enablers (Source: Stbler et al., 2016) Leadership style contributing to the learning culture in the Organisation The important form of the leadership style contributing to the learning culture of Fletcher building has been discerned in form of changeability. Several theories of leadership have been able to pacify the leadership practices based on traits, contingency, behaviour and contemporaries. The designated of the leader has been identified with qualities of leadership trait which has been depicted with effective leadership style for charismatic trade in terms of change. The suitability of the changeable leadership style is seen to be particularly effective in difficult circumstances and takes a long time for implementation. It needs to be further noted that the process of rendition of this particular leadership style is time taking in nature. The various types of leadership behaviour have been seen to be further acceptable and that its able to the subordinates. In addition to this the leadership behaviour has been seeking and the subordinate: the performances. The changeability aspect of t he leadership skill has been seen to be more effective than the contemporary theories which include only a transactional change and such change is only seen to be having short-termed benefits (M. Stbler et al., 2016). Empowerment In general empowerment means giving power or authority to someone for doing of a particular task. Empowerment is the conceptualisation of the different types of management practices for sharing information, rewarding and giving the employees the power to make decisions which has been seen with providing them with authority, opportunity and motivation and make them accountable for their outcomes which will able to be contribute to the satisfaction and competence. The empowerment factor in the given case has been evident with the changeability aspects which has held the managers and shift the leaders positively to adjust with the news of closure. The several types of empowerment initiatives has been identified with providing external support for both the staff and manager which has been useful in tackling of initial uncertainty and enabled Jane McLaren ensuring a consistent and strong leadership throughout the process. The main result of the empowerment has been further seen with meeti ng of the challenging performance indicators associated to delivering high amount of production output which has made the staff responsible for their outcomes. Henceforth, the existing staffs have been able to get a feeling of authority to make their own decisions and have the opportunity to be flexible with the organisational procedures in crisis situations (Parashar Chhabra, 2015). Overcoming the issues of challenges and resistance The process of changeability was identified with the understanding of the goals of the organisation. It was further seen to be done with a group of 15 respondents available to assist the success plan preparation and mode of delivery of the change process among the leaders. The important initiatives taken to overcome the resistance and challenges is seen with the adoption of change leadership capability and providing the practical tools which has been able to navigate the challenging issues associated with the change process. The overcoming of the issues we are further seen by giving priority to the plant leadership team. Due to this, the managers and the ship leaders were able to ensure that the staff there fully engaged in their work and continuously supported in every situation. The resulting feedback of the change process was evaluated with a psychologist, which enabled the changeability by making robust recommendations to improve, focus and strength in the overall change plan. It has been further discerned that the various consideration for providing the external support to the staff and management was conducive in tackling with the initial uncertainty which was further seen to be consistent with the leadership initiative throughout the change proc ess (Albrecht et al., 2013). Plan for establishing learning culture in the organisation Learning culture is defined as a collection of various types of organisational conventions, values and practices which encourages employees an organisation in developing of competence and knowledge. The key steps in establishing of learning plan is discerned with formalising developmental and training plans, giving recognition to learning process, collection of feedback, internal promotion and development of information sharing system and knowledge process. The preparation of learning plan is mainly seen to be done with the idea of making an agenda to prevent the change resistance. In fact in order to be aware of the visions and learning process for planning of the change process several types of initiatives such as encouraging the participation at all levels along with the implementation of new philosophy should be encouraged. Some of the various types of factors which needs to be considered in creating of learning culture involves aligning of learning with business, integrating of the learning process with business process, evaluation of the learning process, supporting of learning transfer in the workplace, managing of learning effectively and providing of appropriate opportunities for the learning process. The Dragon Medical presentation of the learning process has been depicted below as follows. Figure: Developing of learning culture in the organisation (Source: Rippel et al., 2014) Conclusion The study has been able to conclude that the changeability aspect needed to target the workshop with the plant leadership team and have a new insight into the leadership team which was also experiencing a major change. The various types of ethical and the professional issues were further identified in terms of external facilitators which meant that the company will be able to target the issues of real importance and accept the change process. The main form of the professional issue was seen in terms of giving the immediate priority to the plant leadership team. It has been further discerned that the plant closure was confirmed with the business need and this needed to further focus on maintaining a steady performance. The main form of the internal issues in the organisation has been applied with theories related to blind spots, political self-interest and emotions, poor organisational routine, structure of inertia and full implementation of project management. Based on the given depi ctions of the case study, changeability was able to target the workshop with plant leadership team which included gaining insight of how the leadership team we are experiencing the overall change. The different types of resulting feedback was evaluated in terms of psychologist which enabled the changeability to make a number of recommendations for focusing, improving and strengthening of the overall change plan. References Albrecht, F., Faatz, L., Abele, E. (2013). Multidimensional evaluation of the changeability of interlinked production processes with material flow simulation. In Procedia CIRP (Vol. 7, pp. 139144). https://doi.org/10.1016/j.procir.2013.05.024 Belding, J. N., Naufel, K. Z., Fujita, K. (2015). Using High-Level Construal and Perceptions of Changeability to Promote Self-Change Over Self-Protection Motives in Response to Negative Feedback. Personality and Social Psychology Bulletin, 41(6), 822838. https://doi.org/10.1177/0146167215580776 Benevolo, C., Dameri, R. P., DAuria, B. (2016). Smart mobility in smart city action taxonomy, ICT intensity and public benefits. In Lecture Notes in Information Systems and Organisation (Vol. 11, pp. 1328). https://doi.org/10.1007/978-3-319-23784-8_2 Francalanza, E., Borg, J. C., Constantinescu, C. (2016). A Fuzzy Logic Based Approach to Explore Manufacturing System Changeability Level Decisions. In Procedia CIRP (Vol. 41, pp. 38). https://doi.org/10.1016/j.procir.2015.12.011 Hagemo, J. S., Nss, P. A., Johansson, P., Windelv, N. A., Cohen, M. J., Rislien, J., Gaarder, C. (2013). Evaluation of TEG and RoTEM inter-changeability in trauma patients. Injury, 44(5), 600605. https://doi.org/10.1016/j.injury.2012.11.016 Koch, J., Maisenbacher, S., Maurer, M., Reinhart, G., Zh, M. F. (2014). Structural modeling of extended manufacturing systems - An approach to support changeability by reconfiguration planning. In Procedia CIRP (Vol. 17, pp. 142147). https://doi.org/10.1016/j.procir.2014.01.086 Koh, E. C. Y., Caldwell, N. H. M., Clarkson, P. J. (2013). A technique to assess the changeability of complex engineering systems. Journal of Engineering Design, 24(7), 477498. https://doi.org/10.1080/09544828.2013.769207 Parashar, A., Chhabra, J. K. (2015). Measurement of package-changeability by mining change-history. In Procedia Computer Science (Vol. 46, pp. 443448). https://doi.org/10.1016/j.procs.2015.02.042 Rippel, M., Lbkemann, J., Nyhuis, P., Schnsleben, P. (2014). Profiling as a means of implementing volume-oriented changeability in the context of strategic production management. CIRP Annals - Manufacturing Technology, 63(1), 445448. https://doi.org/10.1016/j.cirp.2014.03.118 Stbler, M., Weber, J., Paetzold, K. (2016). Implementing Changeability in a System with Prioritization Indicators. In Procedia CIRP (Vol. 44, pp. 5054). https://doi.org/10.1016/j.procir.2016.02.011 Stbler, M., Weber, J., Paetzold, K. (2016). Literature review of existing evaluation methods in the context of changeability. In Proceedings of International Design Conference, DESIGN (Vol. DS 84, pp. 15851594). Sun, X., Leung, H., Li, B., Li, B. (2014a). Change impact analysis and changeability assessment for a change proposal: An empirical study. Journal of Systems and Software, 96, 5160. https://doi.org/10.1016/j.jss.2014.05.036 Sun, X., Leung, H., Li, B., Li, B. (2014b). Change impact analysis and changeability assessment for a change proposal: An empirical study {star, open}{star, open}. Journal of Systems and Software, 96, 5160. https://doi.org/10.1016/j.jss.2014.05.036 Van Heerden, A. S. J., Guenov, M. D., Molina-Cristbal, A., Riaz, A. (2016). Enhancing the exploration of aircraft changeability during conceptual design. 30th Congress of the International Council of the Aeronautical Sciences, ICAS 2016, 112. Retrieved from https://www.scopus.com/inward/record.uri?eid=2-s2.0-85013655301partnerID=40md5=edf5c9718910dd7c9fd379e77e195f7d