Business management Essay Example | Topics and Well Written Essays - 1250 words

Business management - Essay Example The book gives clear reflections encouraging the application of personal experience and critical thinking on these aspects of management. This paper is a report on some key aspects on this book. Very fundamental to this report are the aspects of individual differences and diversity and control and power within an organization. The book covers these aspects very comprehensively and in a clear way. 1.1. Aims and Objectives The aim of this report is to appreciate the presentation of individual differences and diversity in an organization and appreciate the aspects of control and power while ensuring that they are used effectively towards the realization of an organization’s goals. 2. Individual differences and Diversity This report appreciates the individual differences that exist in organizations. The differences exhibited by Different people in organization explain the differences of people’s behaviour in any organizational set up. This diversity is very critical to the understanding of employees in an organization. The fact that an organization is composed of different stakeholders of different cultural backgrounds, ethnicity, and religious affiliations should be understood from the onset so that they can be understood. This should be besides the personality differences. These differences best explain why different people respond to different circumstances differently. Mullins explains these fundamental differences comprehensively thereby assisting the managers and other stakeholders in an organization understand their employees including the government (2011). The understanding of the individual differences is the first step to ensuring peaceful coexistence and harmonious social relations among people of all walks of life brought together. People in an organization need to have a healthy and friendly environment that favours both work and social interaction. This cannot be realized in an environment where the individual divergences and diversity are not understood let alone appreciated. This understanding also minimises the conflicts that are likely to arise due to the diversity of cultures and other personality related differences. It should be understood very clearly that everyone in an organization has attributes unique to only him/her. It is these attributes that influence the behaviours of different people in the organization. The book provides a deep insight in to these differences and is a great tool not only for learning, but also the application by many organizations in order to develop the skills, talents and capacities of employees (Mullins, 2010). The diversity and differences between the different members of an organization also lends credence to the fact that every can best specialize in a given field. It is, therefore, important, upon this understanding that each individual be allowed to pursue his talents, abilities and skills to enhance his individual potential while at the same time contributing to the dev elopment of the organization. It is important to note that the employees are very important assets in any organization. As a system, they form a significant part of the organization without which the organization cannot perform. Therefore, understanding them and their differences lead to the appreciation of who they are and what they can add to the realization of the aims of the organization. An organization that does not understand its employees is one

Money and Banking Essay Example | Topics and Well Written Essays - 1750 words

Money and Banking - Essay Example One of the shortcomings of an economy with a fixed exchange rate is that monetary policy cannot be utilized to stimulate the economy, although an economy with a floating exchange rate like the U.S. can employ monetary policy to stimulate economic growth. The macroeconomic shock, interest rates in the domestic economy fluctuate with respect to foreign interest rates. For instance, when there is an expansionary monetary policy, it will cause interest rate to decline in the domestic economy, as a result, domestic investors will have an opportunity to invest in the foreign market that will cause a capital account deficit and cause the exchange rate to decrease. The monetary growth causes a raise in domestic income that in turn causes an increase in imports and a current account deficit. When the domestic money supply increases in the foreign market because of an increase in imports and net capital outflows, it leads to depreciation of the domestic currency due to the weak association between supply and demand. The decline in the exchange rate will cause domestic capital to be attractive for foreign investors and the domestic economy will start to draw foreign investment as the exchange rate declines until the BOP equals zero that lead t o interest rate parity . 1b The BOP factors that affect the supply for domestic currency in the foreign economies are a raise in imports and an increase in capital outflows in search of higher rates of return. These factors lead to a BOP deficit in the domestic economy and are frequently affected by expansionary monetary policy that causes a decrease in the domestic interest rate. 1C Increase in exports and an increase in capital inflows where foreign investors are in search of higher rates of return in the domestic economy are factors that affect the demand for domestic currency in the foreign economies. In addition, if the domestic economy cause an increase of exports, it indicate that domestic goods are relatively less expensive compared to foreign goods. Consequently, foreigners will demand more domestic currency as they import compared to domestic exports. When, the domestic rate of returns is more in respect to foreign economies, there will be a raise in demand for the domestic currency, as foreign i nvestors will require domestic currency to buy domestic capital. 2A Based on flexible exchange rates and relatively responsive capital flows, we can establish that any fluctuate in the capital financial account will be greater in magnitude than fluctuate in the capital account. Thus, the EE curve will be flat compared to the LM curve. A fiscal expansion causes IS curve to shifts up and to the right that lead to increase of interest rates and output (y) .The increase in interest rates lead to increase of inflow of KA and a demand for domestic currency in magnitude than the CA deficit affected by increase in revenues that in turn increases imports relative to exports. This causes a BOP surplus that causes the exchange rate to appreciate and lead to shift of the EE curve up and to the left. The exchange rate will appreciate to the point where the BOP comes back to equilibrium. When exchange rate appreciates, the rate of return on domestic capital gets smaller due to diminishing margina l returns, which will reduce the rate of capital inflows to the domestic econ