Russian Economy in the Late 1990s Essay Example for Free

Russian Economy in the Late 1990s Essay The procedure of financial change in Russia has been set apart by a drawn out transitional sadness and macroeconomic unsteadiness: seven years of proceeding with decay brought about a combined drop of GDP by over 40% somewhere in the range of 1989 and 1996; in that period there were additionally a few upheavals of close hyperinflation. The main radical exertion to handle expansion was the IMF-upheld adjustment program of 1995. It concentrated on close money related control and ostensible conversion standard targets; in this manner, direct national bank financing of the spending plan was suspended and the swapping scale was put leveled out. In the years that followed, Russia gained checked ground towards cost and swapping scale strength and this incited uplifting desires in the West and a boundless recognition that the nation was seeking after the correct course of changes. It is critical to bring up that the 1995 adjustment exertion was not bolstered by profound auxiliary and institutional changes. Russia acquired from the previous an over-industrialized economy, commanded by exceptionally wasteful substantial industry (counting the military-modern complex). The progression of costs and the cessation of sponsorships came about true in the decimation of a huge portion of the current capital stock. Rebuilding these businesses is a genuine approach task: just shutting down the enormous number of wasteful undertakings would not be socially and politically bearable, yet shockingly that was the method of Russian improvement during 1990s. In these conditions the Russian specialists began quick, part with mass privatization program which was done during 1992-1994. Be that as it may, this brought about most cases in the grouping of successful property rights in the possession of insiders (organization chiefs) who had neither the willing nor the cash-flow to play out the fundamental profound rebuilding of the ventures. The recently rising arrangement of private proprietorship was not helpful for powerful corporate administration and was in certainty another hindrance to the procedure of big business rebuilding. Additionally, the escape clauses in law framework appear to have induced a kept depriving of the advantages of the privatized undertakings as opposed to their market-situated rebuilding. Along these lines, the advancement in institutional and administrative changes in Russia during the 1990s has been unobtrusive and the developing business sector foundation in the nation is incredibly poor. This is particularly so in the territories of business and corporate law. The execution of understandings regularly depends on the generosity of the gatherings, while contract requirement is frequently unimaginable by lawful methods. Almost no was done to change the working of Russian open organization whose absence of straightforwardness is notable. It brought forth far reaching rent looking for which brought about the accepted centralization of riches in a moderately little gathering of oligarchs. This twisted socio-world of politics, and the nearness of a slip-ups in open organization has made an endless loop which is a significant hindrance to changes and to social equity. One continuous attribute of the Russian nouveaux-wealth is that the abundance of various individuals from the new class was not gained because of enterprising achievement; it was basically pain free income, acquired at times from unlawful or semi-lawful movement. Gigantic measures of capital left Russia and were spent on extravagance merchandise or simply positioned in places of refuge as opposed to being put to gainful use inside the nation. The extraordinarily quick definition of society and the absence of social equity disintegrated beginning open help for the changes and fortified the restriction to the change procedure. It was in this monetary and institutional condition that the Russian government propelled the 1995 adjustment program. The atmosphere for beneficial interest in Russia stayed antagonistic, for the most part because of the negative effect of this condition. The tireless absence of financial specialist certainty leaded to advance decapitalization of the economy. In genuine terms, net fixed interest in 1997 was a fourth of its 1991 level. The delayed budgetary weight on manufactories incited a credit crunch and the rise of different financial substitutes (going about as an option in contrast to cash) and across the board deal (firmly identified with the dispersion of misfortune making movement) which disintegrated further the expense base. By and large, for about 85% of all out compensation. The heightening of this circumstance was in May 1998, when specialists, laborers and coal diggers went on a monstrous strike over unpaid wages, obstructing the Trans-Siberian Railway. After a short recuperation in 1997, the monetary circumstance began to deteriorating in mid 1998. Russia relies intensely upon fares of vitality assets and other essential products which make up 80% of product sends out, and the debilitating of worldwide interest and the phenomenal fall in their costs in the outcome of the Asian emergency had a noteworthy negative effect on its economy. There was a sharp fall in trade profit (about 12% in the principal half of 1998) and this majorly affected Russias outside and financial adjusts. The financial issue There is wide understanding that the Russian monetary emergency is itself simply the statement of the general emergency of the Russian change. Central institutional change of both tax collection and consumption has been more than once set back by political clashes, for example, established emergency in 1993 and the issue of local nonconformity. For the main portion of 1998, the merged spending shortage (government, territorial and nearby) remained at 4. % of GDP, as per the least official figures. The general position was significantly more regrettable than this, especially on the grounds that the significant extra-budgetary store, the Pension Fund, had likewise an enormous deficiency. These figures should likewise be found with regards to wage overdue debts all through all areas of the economy. In the principal quarter of 1998 obligation administration was completely 33% of government spending. This obvious strain was in itself another factor that destibilized trust in the capacity of the legislature to address the circumstance. The developing weight of intrigue installments was incorporated with the measures taken in 1995: while Russian authority figures keep on recording the 1995 spending deficiency at 3. 0% of GDP, intrigue installments on the developing load of GKO (Government Short-Term Commitments) were really adding about a similar add up to the financing needs in that year. The principal issues of GKOs were accessible just to inhabitants, and offered exceptionally high financing costs. In 1996, and partially because of International Monetary Fund request, the market was opened to non-inhabitants. This did inevitably prevail with regards to bringing down the loan costs, yet it likewise obviously implied that the risky gathering of obligation could be proceeded. Until the main significant emergency of certainty, this is the thing that, truth be told, happened in 1998. The money related emergency of summer 1998 As a major aspect of the endeavors to accomplish macroeconomic adjustment, the government had utilized Government Short-Term Commitments. Yet, the circumstance stayed perilous: of the administration shortage as much as half was because of intrigue installments. As Russias current record weakened from a place of surplus in 1997 to a deficiency conjecture at 1. 5-2% of GDP for 1998 overall, the rouble went under weight and financial approach was fixed with the outcome that the loan costs on GKOs arrived at levels of over 100%. The subsequent decrease in the estimation of government protections prompted calls by the remote lenders of Russian banks for expansion a repo credits. Hence, russian banks felt obligated to raise extra assets at simply when the national bank was emptying liquidity out of the market as a major aspect of its endeavor to guard the swapping scale. Because of the falls in the estimation of government protections, banks endeavors to acquire were moved to the interbank showcase that in the long run couldnt work. These troubles flagged the liquidity press on Russian banks to worldwide moneylenders, and expanded their feelings of dread of turning into a bankrupt. Simultaneously the legislature confronted expanding troubles over getting to meet the intrigue commitments on its obligation. The bundle of global credits from the IMF, the World Bank and Japan organized in July was to furnish Russia with financing of $17 billion during the 1998 and 1999. In any case, the endeavor to protect the swapping scale which followed, was in the end surrendered, and a more extensive band for the rouble/dollar conversion scale was presented in the third week in August that leaded to a rouble deterioration of over 25%. On 2 September 1998 the Central Bank of the Russian Federation chose to desert the skimming peg strategy and buoy the ruble openly. By 21 September 1998 the swapping scale had arrived at 21 rubles for one US dollar, which means it had lost 66% of its estimation of not exactly a month sooner. The ban on government obligation made huge misfortunes remote banks. For Russian banks the misfortunes related with the emergency are evaluated at 40% of their advantages. Regardless of the little size of universal introduction to Russia, the crisis estimates taken by its legislature were joined by noteworthy decreases in costs in worldwide money related markets and significant descending modifications in gauge of capital inflows to creating and change economies. Recuperation Russia bobbed again from the August 1998 monetary accident with astonishing rate. A significant part of the purpose behind the recuperation is that world oil costs quickly rose during 1999â€2000 (similarly as falling vitality costs assisted with extending Russias inconveniences), so Russia ran an enormous exchange surplus 1999 and 2000. Another explanation is that household enterprises, for example, food creating, had profited by the degrading, which caused a stee

The Japanese Quince Essay Research Paper AP free essay sample

The Nipponese Quince Essay, Research Paper A.P. English The Nipponese Quince In The Nipponese Quince composed by John Galsworthy, the activities of Mr. Nilson, a notable and wealthy man of undertakings, comprise the mystery plan. The story fundamentally portrays Mr. Nilson s wander through Square Gardens, which prompts an acknowledgment that he needs suddenness, which in twist has kept him from acknowledging nature, so when he sees the magnificence in nature, he gets entranced by it. Advancements in the mystery plan are Mr. Nilson s sentiment of void, his fixation on the Nipponese Quince, and the brush with Mr. Tandram.Mr. Nilson s grievance abdominal muscle initio begins as benevolent and depicted as an inquisitive sweetish esthesis in the dorsum of his pharynx, and a sentiment of vacancy just under his fifth rib. Be that as it may, this esthesis was extreme bounty to hold Mr. Nilson digress from his everyday usual way of doing things. We will compose a custom article test on The Japanese Quince Essay Research Paper AP or then again any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page This sentiment of void increments and in no time is all the more indistinctly portrayed as a fagot feeling and a swoon harming simply over his chest. Mr. Nilson attempts to explain what is doing this, yet winds up with nil. At the point when Mr. Nilson says, and here I am the solitary individual in the Square who has the-to come out and-, this implies his sentiment of vacancy is even evident in his remark. He was trying to express that he couldn t accept that he s the solitary 1 who wants to come out and take a gander at nature. The peruser, can appreciate what the reason for it is when there are elans in topographic purpose of words. He would t be able to ptyalize these words out on the grounds that he has neer encountered the excellence of nature. The Nipponese Quince entrances Mr. Nilson ; it [ is ] so alive and sensibly. The tree with its pink and white blossoms serves a restorative aim, since it doesn t do anything so utile as prove to be fruitful. This is a complexity to Mr. Ni lson s mechanical life, alongside his fathead clock. Mr. Nilson s life is taking care of business of issues, while the fathead clock s life is to begin and sing each hr on the hr to do individuals mindful of the clasp. Both of these occupations are extremely mechanical in that Mr. Nilson follows a set plan everyday and does non wander from it, while the fathead check jumps out each hr on the hr twenty-four hours following twenty-four hours. It s Mr. Nilson s life by and large that is doing him need suddenness. The fathead clock other than is a difference to the blackbird that is alive and existent. The blackbird creates sweet and tuneful vocals, while the fathead clock delivers a similar uninteresting vocal each hr on the hr. At the point when Mr. Nilson sees the Nipponese Quince, he is astonished by it in light of the fact that because of his bustling existence with work, he doesn t have clasp to be captivated with nature. Mr. Nilson s brush with Mr. Tandram is the finishing up advancement in the mystery plan. Mr. Nilson starts up a little discussion with Mr. Tandram, which involves just logical inside informations about the tree. We see that since Mr. Nilson can non portray the magnificence of nature in dynamic words, however on the other hand he should trust on realities to delineate the tree. He is ever accepting about concern and influencing himself with realities, only like when he was bite overing on the fiscal estimation of Tintos. At the point when Mr. Nilson sees a C transcript of himself in Mr. Tandram, he contemplates internally, how stupid he should ve looked gazing and grinning at the tree, and Mr. Nilson fears this since it is something obscure and another experience for him. The peruser of The Nipponese Quince ought to perceive that the sentiment of vacancy, is brought about by losing suddenness. At the terminal when Mr. Nilson hears the sound of a hack from Mr. Tandram, he gets troubled , however doesn Ts know why. This is likely in light of the fact that Mr. Nilson making the most of his saunter through the recreation center. Yet at this point he is hesitantly compelled to go back to the mechanical existence of a man of undertakings.

Underneath Pristine Clothes: Abraham Lincoln

A little homestead is a position of devastated state. It is where there is no much life; having none of the complexities and glory of the city. Be that as it may, for a man with solid expectations and chivalrous dreams as Abraham Lincoln, it is where desire are conceived and where dreams begin to be reality.Lincoln grew up from an undistinguished family, or so he shows, yet he rose into the most elevated of seats and was chosen as the leader of the United States of America for two terms. He was a most regarded leader of all timesâ€a man of respect, equity, and correspondence who promised to utilize unprejudiced understandings instead of power. In any case, underneath those unblemished garments and consummately friendly character, who truly is Abraham Lincoln?Born to a straightforward family in a homestead at the Hardin County, Kentucky, in February 12, 1809, youthful Lincoln grew up to long periods of difficult work. There is no school at their region and there’s no place t o find out about existence, religion, and the world. What there are just tasks to complete and employments to look for and get over with.Yet, with his decided goal and energy for learning, he traversed examining and obtained a permit to specialize in legal matters constantly 1836. He was a persevering and dedicated man, so to state; going through long stretches of training at the Illinois lawmaking body that even his law accomplice said of him, â€Å"His aspiration was a little motor that knew no rest.†In the year1842, his long periods of isolation were broken for he met Mary Todd, a lady whom he had chosen to get married with. They carried on with a cheerful life from that point on and were talented with four young men. It is dismal to note however that just one of them lived to develop into maturity.After years as a legal counselor he attempted to contend in legislative issues and run against Stephen Douglas for Senate in 1858. After their warmed and discretionary discussio n about the Kansas-Nebraska Act, Douglas won the political race. Be that as it may, individuals who saw, heard, and saw their contention developed to love and favor Lincoln. Their discussion had given him a national notoriety which thus won him a Republican selection for president after two succeeding years.When he won the administration, Lincoln centered to achieve equity and generosity among his kin. He was a delicate voice that quiets the mass during the chilly strife of the Civil War.The Emancipation Proclamation which he gave in 1863 incredibly influenced the war, finishing finally the state’s battles, scores of passings, and closing a blood craving battle. The aftereffects of the war he mulled over cautiously, verifying that the tremendous harm a war could bring would not be overlooked by the individuals and that the passings of the individuals who were associated with the encounters would not be put to waste.Throughout his term, he remained for instance to each one; a man of effortlessness and liberality who is happy to lay back his barriers on the off chance that it would mean harmony and solidarity for the country. His great character was more than esteemed by the general population, demonstrated by his re-appointment in 1864.However, he was stopped of his administration a year after, when he was roughly assassinatedâ€shot in the head by an on-screen character named John Wilkes Booth†finishing suddenly his enthusiastic objectives and ambitions.It had been a pitiful second for the entirety of America; having lost a man as serene and liberal as Abraham Lincoln. In any case, his endeavors were not squandered for he left his kin that would join them: â€Å"With malignance toward none; with foundation for all; with immovability morally justified, as God offers us to see the right, let us endeavor on to complete the work we are in; to tie up the country's wounds†¦.†

CORPORATE MANAGEMENT & FINANCE- Assessment Element 2 Essay

CORPORATE MANAGEMENT and FINANCE-Assessment Element 2 - Essay Example Budgetary Position Key Financial Indicator: This piece of the report incorporates some key money related execution markers for the three-retail monster of UK. This three organization shares practically 72% of UK retail piece of the overall industry. Taking a gander at the size of the organization it is significant for the board to recognize the key money related execution pointer for their association. Deals Growth This is one of the significant exhibition pointer for the majority of the organizations especially organizations inside retail segment. These organizations are serving customers by giving their essential and extravagance things. Deals development demonstrates company’s current situation in the market as contrast with its friend gathering. Since UK retail showcase is right around an oligopoly advertise it tends to be effectively assess the exhibition and productivity of the administration of these three organizations. Working Profit Operating benefit is another suita ble execution estimation marker. Since these organizations are generally using their fixed resource and work, it is significant for this organizations to keep up their working expense proficiently. High work cost or working costs can prompt a humongous misfortune to any firm and its investors. Budgetary Ratio: Any speculators or potential financial specialists for the most part investigate the money related proportions of an organization before making a venture on it as they appropriately demonstrate the present situation of the organization. Simultaneously, these budgetary proportions are significant from manager’s perspective likewise to survey their presentation. While leasers likewise take a gander at those proportions before giving any credit to the organization. Correctly everyone dissect the proportions before including with any association. Proportions like ROE, EPS, and Dividend Payout are the most important from investor’s perspective as they are explicitly d emonstrate return create by an organization utilizing contributed capital. Though influence proportions, effectiveness proportion, working or net benefit contingent upon business (in retail industry working) are of more enthusiasm to directors. While leasers for example loan specialists are progressively intrigued to see the proficiency and money change proportions of a specific firm. As needs be the underneath clarified proportions are significant for retail industry. Working Profit Margin: This shows the working benefit as a level of deals. OPM connotes firm’s capacity of creating benefit from its working exercises. For the most part, higher working benefit makes some gigantic venture open doors for the two financial specialists and moneylenders. All out Asset Turnover: The proportion is a proper marker of the way that how proficiently and successfully organization is using their resources for produce income. This proportion is significant for a retail organization as they posse’s bunches of fixed resources. The higher resource turnover connotes higher resource use. This proportion is a decent marker of the board productivity. Higher resource turnover infers effective supervisory group. Current Ratio: This proportion is significant from retail industry perspective as it demonstrates the liquidity position of the c

How to Be Open-Minded

How to Be Open-Minded Holistic Health Print The Benefits of Being Open-Minded By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on July 29, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW on July 29, 2019 Verywell / Cindy Chung More in Self-Improvement Holistic Health Happiness Meditation Stress Management Spirituality Inspiration Brain Health Technology Relationships View All In This Article Table of Contents Expand What is it? Benefits Influencing Factors How to Be More Open-Minded View All Back To Top Open-mindedness is a characteristic that involves being receptive to a wide variety of ideas, arguments, and information. Being open-minded is generally considered a positive quality. It is a necessary ability in order to think critically and rationally. If you are not open to other ideas and perspectives, it is difficult to see all of the factors that contribute to problems or come up with effective solutions. In an increasingly polarized world, being able to step outside your comfort zone and consider other perspectives and ideas is important. This doesn’t mean that being open-minded is necessarily easy. Being open to new ideas and experiences can sometimes lead to confusion and cognitive dissonance when we learn new things that conflict with existing beliefs. However, being able to change and revise outdated or incorrect beliefs is an important part of learning and personal growth. If you want to be able to enjoy the benefits of being open-minded, there are things that you can do to build this ability. What Does It Mean to Be Open-Minded? There are a few different aspects to open-mindedness: In everyday use, the term open-minded is often used as a synonym for being non-prejudiced or tolerant.From a psychological perspective, the term is used to describe how willing people are to consider other perspectives or to try out new experiences.Open-mindedness can also involve asking questions and being active about searching for information that challenges your beliefs.It also encompasses the belief that other people should be free to express their beliefs and arguments, even if you do not necessarily agree with those views. The opposite of open-minded is closed-minded or dogmatic. People who are more closed-minded are usually only willing to consider their own viewpoints and are not receptive to other ideas. Even if you consider yourself a fairly open-minded person, there are probably certain topics on which you take a much harder stance. Things that you are passionate about or social issues, for example. Having convictions can be a great thing, but strong belief does not negate an open-mind. Being open-minded means having the ability to consider other perspectives and trying to be empathetic to other people, even when you disagree with them. Of course, open-mindedness has its limits. It does not imply that you must sympathize with every ideology. But making an effort to understand the factors that might have led to those ideas can be helpful in finding ways to persuade people to change their minds. Characteristics of Open-Minded People They are curious to hear what others thinkThey are able to have their ideas challengedThey don’t get angry when they are wrongThey have empathy for other peopleThey think about what other people are thinkingThey are humble about their own knowledge and expertiseThey want to hear what other people have to sayThey believe others have a right to share their beliefs and thoughts The Benefits of Being Open-Minded What are some of the benefits of being more open-minded? Gaining Insight: Challenging your existing beliefs and considering how new ideas can give you fresh insights not only about the world; it can also teach you new things about yourself.Having New Experiences: Being open to other ideas can also open you up to new experiences.Achieving Personal Growth: Keeping an open mind can help you grow as a person. You learn new things about the world and the people around you.Becoming Mentally Strong: Staying open to new ideas and experiences can help you become a stronger, more vibrant person. Your experiences and knowledge continue to build on one another.Feeling More Optimistic: One of the problems with staying closed-minded is that it often leads to a greater sense of negativity. Being open can help inspire a more optimistic attitude toward life and the future.Learning New Things: It’s hard to keep learning when you surround yourself with the same old ideas. Pushing your boundaries and reaching out to people with different perspectives and ex periences can help keep your mind fresh. Factors That Influence Open-Mindedness There are a number of things that can affect how open- or closed-minded a person is: Personality In the five-factor model of human personality, openness to experience is one of the five broad dimensions that make up human personality. This personality trait shares many of the same qualities with open-mindedness,  such as being willing to consider new experiences and ideas and engaging in self-examination. Expertise Research suggests that people expect experts to be more dogmatic about their area of expertise. When people feel that they are more knowledgeable or skilled in an area than other people, they are less likely to be open-minded. Researchers have found that giving participants false positive or false negative feedback about their performance on a task influenced how closed-minded they were about considering an alternative political opinion. How Hard Is It to Become an Expert at Something? Comfort With Ambiguity People have varying levels of comfort when dealing with uncertainty. Too much ambiguity leaves people feeling uncomfortable and even distressed. Dogmatism is sometimes an attempt to keep things simpler and easier to understand. By rejecting alternative ideas that might challenge the status quo, people are able to minimize uncertainty and risk â€"or at least their perception of risk. Older research does support this idea, suggesting that people who are closed-minded are less able to tolerate cognitive inconsistencies. While some of the factors that go into determining how open-minded you are might be inborn characteristics, there are things that you can do to cultivate a more open mindset. How to Be More Open-Minded Learning how to be more open-minded is possible, but it can be a bit of a challenge. In many ways, our minds are designed to view concepts as wholes. We develop an idea or a category of knowledge, which the psychologist Jean Piaget referred to as a schema. As we come across new information, we tend to want to sort it into one of our existing schemas in a mental process known as assimilation. Sometimes, however, the new things we learned don’t quite fit in with what we already know. In this instance, we have to adjust our understanding of the world in a process known as accommodation. Essentially, we have to change how we think in order to deal with this new information. Assimilation tends to be a fairly easy process; after all, you’re just filing new information into your existing filing system. Accommodation is more difficult. You’re not just putting something into an existing file; you’re creating a whole new filing system. Sometimes new information requires rethinking the things you thought you knew. It requires reevaluating your memories and past experiences in light of what you’ve learned. In order to do this, you have to be able to set aside your judgments, take a serious look at the existing evidence, and admit that you were wrong. That process can be difficult, confusing, and sometimes painful or life-changing. It takes a lot of mental effort, but here are some of the things you can do to train your brain to be more open-minded. Fight the Confirmation Bias A cognitive tendency known as the confirmation bias can be one of the biggest contributors to closed-mindedness. Overcoming this tendency, however, can be a bit tricky. The confirmation bias involves paying more attention to things that confirm our existing beliefs, while at the same time discounting evidence that challenges what we think. Being aware of the confirmation bias is perhaps one of the best ways to combat it. As you encounter information, take a moment to consider how this bias might affect how you evaluate the information. If it seems like you are readily accepting something because it supports your existing arguments, take a moment to consider some arguments that might challenge your ideas. Learning how to evaluate sources of information and learning how to be an informed consumer of scientific stories in the news can also be helpful. How Cognitive Biases Influence How You Think and Act Ask Questions Most people like to believe in their own sense of intellectual virtue. And in many ways, it is important to be able to have trust and faith in your own choices. But it is good to remember that what might seem like being resolute and committed to certain ideals may actually be a form of closed-minded stubbornness. Part of being open-minded involves being able to question not just others, but also yourself. As you encounter new information, ask yourself a few key questions: How much do you really know about the topic?How trustworthy is the source?Have you considered other ideas?Do you have any biases that might be influencing your thinking? In many cases, this sort of self-questioning might help deepen your commitment to your beliefs. Or it might provide insights that you hadn’t considered before. Give It Time When you hear something you disagree with, your first instinct may be to disagree or just shut down. Instead of listening or considering the other perspective, you enter a mode of thinking where you are just trying to prove the other person wrong, sometimes before you even have a chance to consider all of the points. It’s easy to get wrapped up in the emotional response you have to something. You disagree, you don’t like what you’ve heard, and you might even want the other person to know just how wrong they are. The problem with that sort of quick-draw response is that you are acting in the heat of the moment, not taking the time to really consider all aspects of the problem, and probably not arguing all that effectively. The alternative is to give yourself a brief period to consider the arguments and evaluate the evidence. After you hear something, take a few moments to consider the following points before you respond: Are your own arguments based upon multiple sources?Are you willing to revise your opinion in the face of conflicting evidence?Will you hold on to your opinion even if the evidence discounts it? Open-mindedness requires more cognitive effort than dogmatism. Just being willing to consider other perspectives can be a challenge, but it can be even more difficult when you find yourself having to revise your own beliefs as a result. Practice Intellectual Humility Even if you are an expert on a topic, try to keep in mind that the brain is much more imperfect and imprecise than most of us want to admit. As the research has shown, being knowledgeable about something can actually contribute to closed-mindedness. When people think that they are an authority on a topic or believe that they already know all there is to know, they are less willing to take in new information and entertain new ideas. This not only limits your learning potential, but it can also be an example of a cognitive bias known as the Dunning-Kruger effect. This bias leads people to overestimate their own knowledge of a topic, making them blind to their own ignorance. True experts tend to actually be more humble about their knowledge; they know that there is always more to learn. So if you think you know it all, chances are that you probably don’t. As science communicator and television personality Bill Nye once said, “Everyone you will ever meet knows something that you don’t.” Without an open mind, you’ll never have the opportunity to consider those other perspectives and experiences. You’ll never get to know what others know. A Word From Verywell Being open-minded can be hard. It doesn’t help that our minds are often geared toward conserving cognitive energy by relying on shortcuts and simplification. Even if being open-minded does not come naturally to you, there are things that you can do to cultivate a receptive attitude that leaves you open to new perspectives, knowledge, people, and experiences. 5 Ways Your Brain Makes Mistakes or Can Even Lie to You

Job Discrimination Based on Black Womens Hair - Free Essay Example

On December 15, 1791, the First Amendment was passed. This amendment stated, Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. In conclusion, it granted people the right to practice whatever religion they desired and the right to express themselves freely as long it was peaceful. In modern day life, we express ourselves through a numerous amount of things such; words, gestures, poster-boards, clothes, tattoos and even through the way we wear our hair. Expressing our indentity through hair has always been a big deal in the African American community for many centuries. Unfournately, there are limits of how one can wear their hair when it comes to certain workplaces. Many jobs will not hire someone who they believe has an extreme hair color, hair style or hair length. This negatively affects the black community because many of our natural hairstyles have been known to fall under these subjective catorgoeries. Which inflicts a sense of shame on black women because of the negative notations given by society againist natural black hair, this it causing more and more black women to go to extreme measures just to meet specfic beauty standards, rather than embrance their natural kinky hair. Work policies like these are unfair to certain cultrual group such as, Africa n American, therefore, is beginning to raise conflict many work places, to reduce these issues Title VII should be altered to protect the rights of natural black hairstyles. A woman, named Chasity Jones, was asked to come in for an interview at Catastrophe Management Solutions. Jones arrived to the interview us suggested, dressed very profressionally ,with her hair in short dreadlocks. She was asked the job, given that she was qualified for the position, but there was thing standing in her way, her hair. She was told by the HR manager that she could not recieve the position wearing dreadlock. When Jones asked why, she was told, they tend to get messy, although Im not saying yours are , but you know what Im talking about. Offended by this statement, in 2013 in Mobile, Alabama, Jones decided to filed a lawsuit against Catastrophe Management Solution for racial discrimination. Unfortunately, the case was ruled againist Casey Jones. Claming Catastrophe Management Solutions policy stated, hairstyles reflect a business/professional image and no excessive hairstyle or unusual colors are acceptable. Using this as a defense statement againist dreadlocks. Also, Ca tastrophe Managemnt Solutions policy did not violate Title VII , so it was allowed. Thankfully, Casey Jones declined this job offer because she refused to change her hair. She didnt let socitety pressure her into meeting Eurocentric beauty standards. Policies such as these only support negative sterotypes given by white supermacist stating natural black hair is not professional, less attratctive, messy and nappy. These type of comments belittle black women with natural hair, causing many to use harsh chemicals, excessives amount of heat and wigs, just to achieve long straight hair that look acceptable. Black womens hair have been important to them for many generations. Stated by, Ayana Byrd and Lori Tharps, in their book tittled, Hairstory: Untangling the Roots of Black Hair in America, a book about repetitive insults on black hair, In the fifteenth century hair functioned as carrier of messages in most West Africa. Which explains why when Africans were first captured they were forc ed to shave their head and wear head scarfs to prevent the slave oweners husbands from finding an intrest in it and to prevent them from communciating with one another. Today, black women find pride in how because of their hair textures, they can be very versatile with their hairstyles. Black women express their styles, their emotions and more through their hair. This right should be protected under Title VII. Over the years, has expanded from discrimation of race, sex, religion to sexual harrasement. Telling someone that they cant work at an establishment because they wear their in a certain way is an oppinated and discriminative policy and should be protected under Title VII as hair discrimation. In conclusion, African American hair has held importantance for many centuries from the slaves days, when hair was used to communicate to modern days when hair is used as an expression of ones style. Unlike other races, natural Black hair contains a diffrent texture causing it to require more maintenace and having a limited of hairstyles. This can cause conflict in some work environments because many styles worn by black women with natural hair are prohibited. There policies are similar to white supermacist sterotypes. They are also offensive to African American, leading black women to use harmful chemicals, severe amounts of heat and wigs to mask their natural roots and meet societies beauty standards. These policies are disturbingly legal because it is not covered under Title VII, but should be because it is discrimatory against people who wear diffrent types of hair styles.

Internet Security And The Internet - 1275 Words

Internet Security The internet is a vast labyrinth of data for users to access. The internet is vast and complex; therefore, it is essential that a user have a fundamental understanding to the power and risks associated to using it. Much like the vast expanse of outer space, much of the internet is not understood and can be scary to become lost in. Protecting the data that is available on the internet is a daunting task with nearly zero possibility of complete protection. Sensitive data is often the target of insidious hackers seeking notoriety or financial gain from stealing it. How can anyone expect to protect this data from human or machine interfaces when the security is created by a person or machine? The data is doomed from the†¦show more content†¦Regrettably, the convenience of online shopping also brings great risk to those that utilize it; however, there are a multitude of online shoppers that feel information security will self-manage given ample time (Miyazaki F ernandez, 2001). While this may seem naà ¯ve, it warrants merit as many major banking institutions will forgive debt incurred due to fraudulent activities against customers’ accounts. Specific Risks to Data on the Internet Commonly used tactics are prevalent on the internet; in fact, browser attacks have escalated exponentially towards internet users (Bugliesi, Calzavara, Focardi Khan, 2015). In fact, browser attacks looking for cookies present such grave danger that Bugliesi, Calzavara, Focardi Khan (2015) stated â€Å"modern web browsers implement native protection mechanisms based on the HttpOnly and Secure flags to shield session cookies from unintended access by scripts injected into HTML code, as well as by sniffers tapping the client–server link of an HTTP connection† (p. 509). Yet another serious risk factor to internet use is browser attacks, which are insidious brute force attacks that savvy hackers will impose; consequently, consumers will oftentimes enter a password to confirm an order and verify the intent of an order (Jing-Jang, Yi-Chan Gen-Yih, 2015). 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Knowing whatRead MoreInternet Security And The Security System878 Words   |  4 PagesBusiness and people are using Internet for entertainment, e-business and e-commerce, social networking, and communication to the people and business, but there have always been threats to the Internet Security. Internet security is major concern in field of technology, because there are various personal, business and government data on the Internet. Today every businesses and organizations have their own security system to reach their goal of information security. Internet security systems are created toRead MoreSecurity And Stability Of Internet1469 Words   |  6 Pagespolicy related to security and stability of internet, exchange of information in the scientific community, affordability of the Internet in the developing world, disclose of emerging issues to the general public, use and misuse of the Internet among others. Internet Software Piracy Software is the programming language and the operative system that runs a computer and allows the user to execute actions such as send and receive information through pictures, music, videos, text messages, GPS coordinatesRead MoreSecurity Of The Internet Of Things1664 Words   |  7 PagesSecurity of the Internet of Things Natxo Vijande Jim Bown School of Science, Engineering and Technology Abertay University DUNDEE, DD1 1HG, UK ABSTRACT Context The forecasts point that then number of Internet of Things devices by 2020 will be around 25 billion, which is an exponential growth compared to 5 billion devices connected at this moment, while these systems are still considered weak on security measures. The reasons why security is not strong enough rely on their poor management

Max Webers Model of Bureaucracy and the Values That...

Introduction In the opinion of Max Weber, government agencies should ideally be organized in accordance to the bureaucratic form. Indeed, in some quarters, the ideal-typical bureaucracy proposed by Weber is still regarded important to modern society. This text describes Max Webers model of bureaucracy. Also to be discussed are the values that bureaucracy jeopardizes in public administration. Max Webers Model of Bureaucracy Weber saw the traditional administrative system as being laden with defects or shortcomings. In his opinion, bureaucracy would help resolve some of these defects. An ideal typical bureaucracy for Weber as Pennington (2009) points out has a very definite organizational form which is adopted owing to its efficiency-enhancing properties. According to Pennington (2009), Webers ideal type bureaucracy is made up of ten features. I briefly examine each of these features/characteristics below. To begin with, the position or post occupied by an official should be his/her main or sole occupation. Secondly, a clear structure should provide for promotion on the basis of merit and/or seniority. Promotion in this case is however dependent on the superiors judgment. Third, the official must not appropriate his/her position as he/she is not deemed to own the office in his or her personal capacity. Next, the official should be subject to, and hence must abide by the of fices conduct and disciplinary system. Fifth, in the course of executing the dutiesShow MoreRelatedBureaucracy and the Church of God1906 Words   |  8 PagesMax Weber, German sociologist, social theorist, and economist, explicated the theory of bureaucracy in which he details the monocratic bureaucracy â€Å"as an ideal form that maximized rationality† (Bolman Deal, 2008, p. 48). He provided his most complete exposition of theory in his 1922 tome Economy and Society (Casey, 2004). This classic form of bureaucracy is characterized by the following (a) well-defined official functions; (b) specialization of function; (c) clearly defined hierarchy of offices;Read MoreThe Classical Theory of Organisation and Its Relevance4143 Words   |  17 Pagesrelations. The classical theory of organization suffers superficiality, over simplification and lack of realism in terms of problems faced by competitive organizations. Taylor and theorists of scientific management over rated scie ntific methodology as a value free integrating force that could bring about total managerial revolution. However the present forces of organizational change facing open ended competitive challenges are not prepared to accepts the principles of scientific management. OrganizationsRead MoreSolution Manual CH 1 Management A Practical Introduction 6th Edition8886 Words   |  36 Pagesmake it more collaborative. However, in 2011, they abandoned the council-based structure, saying that it actually slowed down decision-making. Now Cisco has just 3 management councils. Your Call: If the system of 48 management councils added bureaucracy and diluted managerial authority and accountability, what type of organization structure would help Cisco act quicker and more flexibly? Do you think studying management theory could help you answer this question? (Box in text on p. 41) ____Read MoreLibrary Management204752 Words   |  820 Pages/ Robert D. Stueart and Barbara B. Moran. — 7th ed. p. cm. — (Library and information science text series) Includes bibliographical references and index. ISBN 978–1–59158–408–7 (alk. paper) ISBN 978–1–59158–406–3 (pbk. : alk. paper) 1. Library administration—United States. 2. Information services— United States—Management. I. Moran, Barbara B. II. Title. Z678.S799 2007 025.1—dc22 2007007922 British Library Cataloguing in Publication Data is available. Copyright  © 2007 by Robert D. Stueart and Barbara

The Bible, The Adventures of Huckleberry Finn, and The...

The Bible, The Adventures of Huckleberry Finn, and The Epic of Gilgamesh - Are They Relevant Today? In The Epic of Gilgamesh, Gilgamesh, the hero of this epic, achieves many feats of skill, which makes him famous, but that is not the reason it is an epic. The Epic of Gilgamesh fulfills the requirements of an epic by being consistently relevant to a human society and carries immortal themes and messages. By looking at literature throughout history, one can infer the themes that are consistently passed on to other generations of humans. It is in human nature for people to want to excel in life and strive to make a name in this world for themselves. We want to be remembered by name or for something we have done. Most, who†¦show more content†¦It is in human nature to want to be recognized and receive what one think he or she may deserve. In the Bible, one of many themes is the quest for something greater than what the seeker currently has, in terms of stature or wealth. One of many examples are the theft of Esaus birthright by Jacob. In Genesis 25: 27-34, Esau Sells H is Rights as the First-Born Son, Jacob wanted more than his proper inheritance, he wanted the rights as the first-born son. His brother Esau was hungry and asked for some soup that Jacob was cooking. Jacob answered, I will give it to you if you give me your rights as the first-born son. Jacob could not be content with what he already had. He wanted a larger portion of the inheritance entitled to the one who is the first-born as well as the title. In The Epic of Gilgamesh, Gilgamesh seeks to gain more fame by attempting feats of great proportion. One of the feats is the slaying of Humbaba, the giant beast who is the keeper of a !! forest. By doing so, Gilgamesh becomes famous for killing the dreaded Humbaba, even though it does not pose any threat to people who stay out of that particular forest. ï‚ ¼Together we will accomplish a work the fame of which will never dieï‚ ¼your dream is good, your dream is excellent, the mountain which you saw is Humbaba, Now, Surely, we will seize and kill him. He does this is for fame as well as access to the cedar trees. After this

A Structural and Vocabulary Analysis of John Donnes The...

A Structural and Vocabulary Analysis of John Donnes The Flea In his poem The Flea, John Donne shows his mastery in creating a work in which the form and the vocabulary have deliberately overlapping significance. The poem can be analyzed for the prominence of threes that form layers of multiple meanings within its three stanzas. In each of the three stanzas, key words can be examined to show (through the use of the OED) how Donne brilliantly chose them because of the various connotations they had to his audience. Finally, each of the three stanzas contains completely different moods that reflect the speaker’s emotions as the situation changes. Upon knowing some of John Donne’s personal history, especially of his eventual high†¦show more content†¦According to the OED, anything that caused surprise or alarm was referred to as a flea. Another common usage for the word flea was as an adjective. Something was like a flea if it was small and contemptible. The third relevance was as a popular phrase saying that there was a flea in one’s ear. The OED definition of this saying is, stinging or mortifying reproof, rebuff, or repulse, which sends one away discomfited. It is easy to see the evolution of the word flea to the verb, to flee. The second stanza can be summed up by the word jet. Jet also has several layers of meaning. Donne writes, Though parents grudge, and you, we are met,/ And cloistered in these living walls of jet. The speaker is trying to convince a lady to have an illicit tryst with him, and this line shows that he is being sneaky and sly because they are somewhere dark and secretive. Jet literally means black and shiny, just like a flea, but according to the OED, it also represents an action. A jet is a sudden, darting movement and the speaker actually makes a jet towards the lady. It is in this stanza that he makes his most ambitious argument to the lady, and because this is obviously a sexual proposition, Donne’s clever word selection reveals why the third meaning of jet is especially relevant. Jet also has a phallic/male connotation as the root of the word jetty (an outcropping of rocks

Crushing the Native Americans Free Essays

After the Civil War, Indians inhabited almost half of the United States. White Americans were urged to move west and settle, not taking regard that Native Americans already lived there. By the late 1800s most Indians had lost their land and had been driven onto reservations. We will write a custom essay sample on Crushing the Native Americans or any similar topic only for you Order Now Eastern Indians had already been forced to the west. A number of tribes weren’t cooperative with moving onto reservations and changing their customs. This caused many battles between whites and Native Americans. During the Gold Rush of 1849, a lot of Native Americans were killed by white disease and minors burning their villages. These events were significant because they contributed to an up rise between white Americans and Indians. On November 29, 1864, Colonel John M. Chivington led an attack on the Cheyeane and Arapaho. They killed and scalped men, women, and children. I believe this was important because it showed the disregard for the tribes and how ruthless the whites were against them, but also warranted a treaty. The Fetterman massacre that took place in December 1866 was a big part of the Sioux War of 1865-1867. Red Cloud, the Sioux Chief, lured Fetterman’s army into an ambush and wiped out all of them. This took place again because of gold rush invasion and only shows the results of someone trying to take another’s homeland. http://www. indians. org/articles/native-american-indians. html The Native American Indians were forced out of their homeland, resulting in many issues and events including the Trail of Tears. Most of them eventually converted to the European way of life by dressing the same and changing their religion to Christianity. How to cite Crushing the Native Americans, Papers

Organisational Change Management Organisational Efficiency

Question: Discuss about theOrganisational Change Managementfor Organisational Efficiency. Answer: Introduction A manger can be understood as a person who is responsible for organisational task and operations. There is usually certain staff of individuals who used to report the manager for their respective activities. The management can be explained as the effective coordination and the organisation of the business activities and operations for the accomplishment of the set goals and objectives. There is vital importance of managers and effective management in achieving organisational efficiency and long-term sustainability (Mintzberg, 2004). Another vital aspect in the organisations is leadership as with the help of improved and competent leadership, the organisation can achieve high employee involvement and organisational development as the leaders influences the organisational employees to work efficiently (Yukl, 2002). There is a difference between management and leadership as the management focuses upon all the business activities and departments of the organisation whereas in leaderships the primary focus is upon the people. To achieve rapid organisational development, the managers take use of various strategies and techniques for having successful organisational change (Zaugg and Thom, 2002). When any organisational change takes place, there is increased involvement of the employees. And it is essential to have their engagement so that there cab effective implementation of organisational change and hence there can be attained improved organisational development. Use of Different Organisational Development Techniques to Lead Organisational Change When any kind of organisational change takes place, there is essential need to manage it effectively. The organisation plans for numerous strategies and approaches for managing these changes so that it may offer positive implications only. There are various strategies for managing change such as every change should initiate by setting a goal statement which is required to be attained from implementing the change in the organisation. It is also essential that, the change should be first implement at the top level sp that the subordinates as well as the grass root level employees also easily get fascinated to adapt the change (Hayes, 2014). Secondly strategy is that there must be taken feedback from the employees regarding the implementations of the change so that they can share their views and issues with the management. This feedback is required to take before the initiation of the cahnbge program. It is also a part of the strategy to explain the need, benefits and impacts of the org anisational change over the employees, so that they can remain prepare for working in a changed organisation (Anderson and Anderson, 2010). (Jurevicius, 2013) According to the McKinsey 7s model of organisational design, there are seven different aspects in this tool for analysing the organisational design of the company. The model explains the hard and the soft elements which includes 3 hard elements i.e. systems, structure and strategy and the 4 soft elements comprises of shared values, style, staff and skills. The mangers can take use of these hard and soft elements in managing the organisational changes. The hard elements can be used in a more direct manner as in the strategy; there is development of a plan for the effective implementation of the change and to attain higher competitive benefits (Hanafizadeh and Ravasan, 2011). The reason behind the models or frameworks of organisational design is for improving the organisational performance, for examining and analysing the impacts of future changes within an organisation, for having alignment of the processes and the departments at the time of acquisition or mergers and determining the best way of implementing a proposed and planned strategy. The hard elements are more concerned with the organisation and its relative success whereas the soft elements have their primary focus upon the individuals and their development and satisfaction (Bhatti, 2011). There is also vital importance of employee buy-in the organisational change process. The employee buy-in can be understand as an approach of program by which there is increased involvement and engagement of the employees in the organisation and the organisational operations. The concept of employee buy-in is very much essential in present scenario and current business operations (Kotter, 2012). When an employee buys into the organisational mission and objective, then they act as the driving forces for the accomplishment of the mission. Whereas if the employees does not buy in, then it is assumed that they are working opposite to the organisational mission which restricts the organisation in rapid attainment of the organisational goals. The employee participation and employee buy-in are recognized as the two main keys of effective change management. Therefore, it can be analysed that the employee buy-in is of high significance in an organisation for the effective implementation of the changes in an organisation (Bateh, Castaneda and Farah, 2013). There are various other OD models and frameworks which are utilized by the managers at the time of organisation changes such as Kotler 8-Step change model, as per this model, there are eight different steps under which an organisation has to work upon for having successful implementation of change. The eights phases comprises of creating a sense of urgency, building a guiding coalition, forming a strategic vision, enlisting a volunteer army, enabling actions by eradicating barriers, generating short term wins, sustaining acceleration and instituting change (Sacheva, 2009). The second OD framework highly used by the organisation is the Lewins Change management model. In this model, there are three stages i.e. Unfreeze, transition and freeze. With the help of these model, the organisations motivate employees to adapt the changes in the unfreeze stage, initiate the change in the transition stage and the change is successfully implemented in the freeze stage (Levasseur, 2001). It has bee n analysed that in almost all the models, the theorists lay down more attention to the soft elements. This is due to the fact that it is more important to manage the organisational individuals first by the means of shared values, skill development, etc so that they can adapt the organisational change and become its part rather than just focusing upon the organisational strategies, structure or systems. In any organisational change, the most vital role is of a leader as the leader is an individual which has the power to influence other individuals and develop employee engagement and effective implementation of the change by considering the needs of the employees and integrating their individual needs with organisational goals and objectives (Iles and Sutherland, 2001). Conclusion Organisational change is an inevitable part of an organisation. Every organisation is required to implement an organisational change whether at the early stage or in the long-run. From the essay it can be concluded that the organisational managers and leaders take use of various change management strategies and OD techniques for achieving g effective and successful implementation of the change management programs. There has been taken use of soft as well as hard elements for analysing the change and its impact on the organisation. Therefore, it can be analysed and conclude that, organisational change is a significant aspect which needs appropriate planning, strategies and frameworks for its implementation. References Anderson, D. and Anderson, L.A., 2010.Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Bateh, J., Castaneda, M.E. and Farah, J.E., 2013. Employee resistance to organizational change.International Journal of Management Information Systems (Online),17(2), p.113. Bhatti, O.K., 2011. Strategy implementation: An alternative choice of 8Ss.Annals of Management Research,1(2), pp.52-59. Hanafizadeh, P. and Ravasan, A.Z., 2011. A McKinsey 7S model-based framework for ERP readiness assessment.International Journal of Enterprise Information Systems (IJEIS),7(4), pp.23-63. Hayes, J., 2014.The theory and practice of change management. Palgrave Macmillan. Iles, V. and Sutherland, K., 2001. Organisational change.A review for health care managers, professionals and researchers. Jurevicius, O., 2013. McKinsey 7s Model. Accessed on: 2nd May, 2017. Accessed from: https://www.strategicmanagementinsight.com/tools/mckinsey-7s-model-framework.html Kotter, J., 2012. How the most innovative companies capitalize on today's rapid-fire strategic challenges-and still make their numbers.Harvard business review,90(11), pp.43-58. Levasseur, R.E., 2001. People skills: Change management toolsLewin's change model.Interfaces,31(4), pp.71-73. Mintzberg, H., 2004.Managers, not MBAs: A hard look at the soft practice of managing and management development. Berrett-Koehler Publishers. Sacheva, S., 2009. Change Management for e-Governance.I-Ways Journal of E-Government Policy and Regulation,32(2), pp.109-117. Yukl, G.A., 2002. Leadership in organizations. Zaugg, R. and Thom, N., 2002. Excellence through implicit competencies: Human resource managementorganisational developmentknowledge creation.Journal of Change Management,3(3), pp.199-211. Bibliography Anderson, D. and Anderson, L.A., 2010.Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Bateh, J., Castaneda, M.E. and Farah, J.E., 2013. Employee resistance to organizational change.International Journal of Management Information Systems (Online),17(2), p.113. Bhatti, O.K., 2011. Strategy implementation: An alternative choice of 8Ss.Annals of Management Research,1(2), pp.52-59. Bovey, W.H. and Hede, A., 2001. Resistance to organisational change: the role of defence mechanisms.Journal of managerial psychology,16(7), pp.534-548. Elving, W.J., 2005. The role of communication in organisational change.Corporate Communications: An International Journal,10(2), pp.129-138. Graetz, F., Rimmer, M., Lawrence, A. and Smith, A., 2006.Managing organisational change. John Wiley Sons. Hanafizadeh, P. and Ravasan, A.Z., 2011. A McKinsey 7S model-based framework for ERP readiness assessment.International Journal of Enterprise Information Systems (IJEIS),7(4), pp.23-63. Hayes, J., 2014.The theory and practice of change management. Palgrave Macmillan. Iles, V. and Sutherland, K., 2001. Organisational change.A review for health care managers, professionals and researchers. Jurevicius, O., 2013. McKinsey 7s Model. Accessed on: 2nd May, 2017. Accessed from: https://www.strategicmanagementinsight.com/tools/mckinsey-7s-model-framework.html Kotter, J., 2012. How the most innovative companies capitalize on today's rapid-fire strategic challenges-and still make their numbers.Harvard business review,90(11), pp.43-58. Levasseur, R.E., 2001. People skills: Change management toolsLewin's change model.Interfaces,31(4), pp.71-73. Mintzberg, H., 2004.Managers, not MBAs: A hard look at the soft practice of managing and management development. Berrett-Koehler Publishers. Sacheva, S., 2009. Change Management for e-Governance.I-Ways Journal of E-Government Policy and Regulation,32(2), pp.109-117. Todnem By, R., 2005. Organisational change management: A critical review.Journal of change management,5(4), pp.369-380. Vakola, M., Tsaousis, I. and Nikolaou, I., 2004. The role of emotional intelligence and personality variables on attitudes toward organisational change.Journal of managerial psychology,19(2), pp.88-110. Yukl, G.A., 2002. Leadership in organizations. Zaugg, R. and Thom, N., 2002. Excellence through implicit competencies: Human resource managementorganisational developmentknowledge creation.Journal of Change Management,3(3), pp.199-211.

Way to Mitigate Risks in Contracts-Free-Samples for Students

Question: Define Risk in Contacts. How can we mitigate risks in contracts. Recommend efficient strategies to mitigate risk in different contracts. Answer: Introduction: Contract is one of the essential tools for the project delivery system that aids to effectively manage obligations. It helps all the parties engaged in the business to reduce their effort and time significantly (Kendrick, 2015). Additionally contacts help the parties, who are indulged in business to create and amend their strategies as well as the procedures to perform the business smoothly. Using the contracts for business quantity, price and equilibrium quantity can also be chalked out by the management of the firm (Love Trowbridge, 2017). Now, when it comes to smooth operation of a business, then contracts are the cornerstone that brings in transparency and maintain the quality requirements. According to the Harrel, (2017) it is important to remember that contracts expose the firms to the unique risks, which are beyond the scope of typical control framework. Managing this risks and proper assessment of the risk is highly important in order to attain the best deals. Though there a re high amount risk is associated with the contracts, however, if it can be managed properly, then aids the firm to have higher profitability as well as better scope of income with ultimate transparency in the business (Klijn Koppenjan, 2016). There are various ways to assess the risk associated with the contract and numerous ways have been discovered to mitigate them. Simple steps or initiation can lead the contract as a tool that enlarges the business and make it more lucrative in front of the prospective customers (Wellin, 2016). This essay is meant t analyse the ways to mitigate risks in contracts at first place and then it will discuss the reason for rising those risks. Besides this, the essay will discuss efficient strategies to mitigate risk in different contracts and to conclude it will provide some recommendations to reduce the scope of risks in contracts in the business. Way to mitigate risks in contracts: Contracts are one of the most useful things that aid the business to become more competent and transparent. However, it has been seen that it possess adequate amount of risks if handled improperly. These risks can lead the joint venture or the whole operating to breakdown that makes it highly important to mitigate the risks in contracts (Liu et al., 2016). There are various ways to mitigate the risks in contracts, which are risk assessment, transferring risk, risk buffering and many others. Details regarding these risk management mechanisms are as follows: Risk assessment: In order to mitigate the risk associated with a contract, risk assessment is one of the best tools. It helps to understand the key business and legal risk associated with the parties involved in the contracts and highlights the areas that need focus. With the involvement of the stakeholders, risk assessment guide to identify the areas of high risk in the contracts and reduce the same with proper actions (Lin, 2016). Risk assessment not only includes the financial aspects, moreover, it considers the financial aspects to find out the likelihood of occurrence of the risk. Besides this, risk assessment considers various things to trace the probable occurrence of the risk in contract are as follows (El-Sayegh Mansour, 2015): Expanses and the possibility or revenue generation in case of the contracts Type of the authority (for instance, foreign subsidiaries, business units, individual firm and others) who are engaged into the contract Functional area of the party who are engaged in the contract Depending upon the number of hands the contract flows, risk assessment categories the contracts and aid the firm to reduce the scope of risk to a great extent; however, the level of benefit that a firm can gain from the risk assessment largely depends upon the factor that how well the particular brand utilize the tool. Transferring risk: Once the contractual risk assessment is done, then the next step to minimise the risk is to implement the risk transfer procedure. It aids to determine and dismembers the risk to different parties (Ahmad et al., 2016). Various indemnification clauses make the risk transferring procedure, which are as follow: Indemnification Clauses: It is a mechanism that allows shifting the probable cost of risk from one party to another. In the case of any physical or monetary loss indemnification clause allows to pay to the third part as outcome of the injury (Lobo, Newhouse Bergstrom, 2017). Using this mechanism, risk associated with the contract can be altered to the third party thus by reduces the scope of loss. Limitation of Liability: It is another beneficial strategy to reduce the risk associated with the contract because it provides a exposure cap to the contracting parties in case of any claim is made. Limitation to the liability reduces the risk exposure by 90% and thus reduces the overall risk level associated with the contract. Subrogation Waiver Clause: This is another risk mitigating clause in case of contracts that helps the firms indulged in the contract to sue the third party for the loss incurred due to the failure of the contract. Thus, by reducing the scope of uncertainty it helps to subrogation of the risk associated with the contract (Soderblom, Samuelsson Martensson, 2016). Risk buffering: Risk buffering is an effective mechanism to reduce the scope of contract risks because this simple framework aids the firm indulged in the contract to keep some buffer stock so as to make them potent for absorbing any undesired shocks (Olson Wu, 2015). Whether it is cost overrun or the lack of time and material, if the buffer stock is there, then it can aid the contract to operate smoothly; however, it is important to keep in mind that, risk buffering gives the contract price to rise and lead the project completion time to increase (Mishra et al., 2016). Whatever it is, risk buffering will certainly aid the contract to run smoothly without any scarcity and even if there is some amount of scarcity, then it would the reserve stock will absorb the same. Reducing uncertainty and bringing in organizational flexibility: Uncertainty is one of the main reasons for the rise in contractual risk and whenever there is contract, and then there will be some amount of uncertainty too. Depending upon the level of uncertainty, the burden of the risk can be shared among the parities indulged in the contract (Grote, 2015). Thus, if the uncertainty of the contracts can be reduced, then it would mitigate the risk associated with the contract too. One of the best ways to reduce the uncertainty associated with the contract is to enhance the organisational flexibility and bring in the risk control mechanism (Kerzner Kerzner, 2017). Professional tools: Till now most of the ideas that can be used to mitigate the risk in contract are theoretical, however, in order to utilise them in practical, there are professional tools or software that do the task. These tools are programmed in such a way that it can address the central issue of the contractual risk and focus on the factors to negotiate on the management process in order to enhance transparency (Yildiz et al., 2014). Professional tools are beneficial to reduce the communicational gap among the parties indulged in the contract and open up the path to enhance the linkage among the external stakeholders as well as the third parties. The process of contract negotiation become inherently collaborative with the use of the professional tools and it not only gives enough amount of transparency, moreover aids the firm to chalk out their incurred cost, profitability and liabilities. Back and forth exchanges in case of the contracts get largely reduced by utilizing professional tools and thu s it reduces the scope of miss approvals (Neale, Weir McGee, 2016). On the other hand it keep limelight on the five stages of the contract life cycle, thus providing enough scope to mature the contract and prove it to be fruitful for all the parties indulged in the contract. Risks in contract: Contracts are one of the essential tools for the growth of every business irrespective of their variety. Contracts aid the firm from introducing new subsidiary firm to establishing partnership and in addition, it guides the firms to secure licenses to enhance their business around the various places beyond their place of origin (Edsparr Fisher, 2014). However, it is true that contracts are highly associated with the risks and it can bring the firm to the shutdown point leading to complete loss of all the effort. On the other hand, if the contracts can be managed properly, then it would provide great amount of protection from the risk and liability. Depending upon the contract type, risk burden varies widely and the share of the burden falls relying on the amount of uncertainty the respective parties are facing. For instance, there are three broad categories of contract, which are namely Fixed-Price contract (FP), secondly Time and Material (TM) contracts and lastly Cost Reimbursable (CR) or Cost Plus (CP) contracts (Jorgensen, Mohagheghi Grimstad, 2017). Now, in the case of FP contracts, seller has highest amount of uncertainty in the amount of profit making due to the fact that seller does not know how much profit he or she can earn at the beginning. On the other hand buyer has full information about the payout that reduces the amount of uncertainty that the party is going to have. Thus, the risk in contract in the case of FP contracts shifts from buyer to the seller (Biais, Heider Hoerova, 2016). According to the same source, when it comes to the CP contracts, then the buyer do not have idea regarding the amount of payout during the time of contract and this enhances the level of liability to the exorbitant level. On the other hand, seller has proper information regarding the payout for the contract that reduces the uncertainty level. Thus, the burden of risk in the FP contract lies over the buyer with a higher magnitude compared to the seller. TM is the mediating form of contract that sets between the previously mentioned contrac ts varieties. According to the Shokoohyar Katok, (2017) level of uncertainty remains same for both the parties and the risk of this type of contract is divided between both the parties. During the initiation of the project none of the party has proper information regarding the cost of the project. In the case of buyer he doesnt have any idea about the material cost and on the other hand the supplier does not have idea regarding the labour cost. Thus the risk of this type of contract is shared both by both the parties. Well, though there are risks in case of the contracts, however, it can be reduced to a great extent using the proper mechanism. Moving forward, this essay will highlight various efficient strategy recommendations to mitigate the risk related to the contracts. Recommendation of efficient strategies to mitigate risk in different contracts: Contracts are efficient tool that can lead a business or collaboration to the zenith of success; however, if it is mishandled, then it can come down as the bane on the whole project. Thus, whenever parties are engaging themselves in the contract, then it is highly important to follow some basic rules, in order to reduce the scope of risks in contract. Some of the recommendations for this purpose are as followed: Fundamental of managing risks in contract lies in the in-depth knowledge about the contract. Thus, the first and foremost thing in order to reduce the risk in contract is to properly know the clauses and proper understanding regarding the same and then indulging into the contract. Secondly, it has often been seen that firms, irrespective of the size and magnitude of business are indulged into the variety of contracts with different parties. Over the time they forget to review them and this gives the stimuli in to the risk in contract. Thus it is highly important to review the contracts in a periodical manner in order to reduce the scope of contracts. Proper assessment of the suppliers and measuring the value addition of the contracts are subject to periodical reviewing. Thus it would be better for the firm to perform survey and organise interviews with the parties indulged into the contract in order to mitigate the scope of risks in contracts. Contracts are considered as one of the influential tool for pricing strategy of the firms. Thus proper monitoring of the pricing adjustment and amend the same in order to stick with the contract is essential for mitigating the risk associated with the contracts. It would be better for the firms to bring in risk control mechanism so that in case of any unwanted fluctuation in the contract couldnt hamper the flow of operation. Using tools like early warning system and risk control mechanism, firms can avoid the scope of risk appearance in case of the contract. Surveying and risk assessment frameworks are cost worthy, however, they need huge amount of investment too during the initial stages. Thus it would be better for the firms to allocate necessary amount of fund in order t reduce the scope of cost overrun. Conclusion: The essay has analyzed the risks in contracts and it has tried to find out how the risks related to the contract can be minimized. The analysis has found that there are various reasons that can give rise in the contractual risks. Among many, one of the main reasons for the rise of contractual risk is lack of transparency in the contracts. The report has found that, lack of transparency in the contract can lead to bad planning as well as result in complicated pricing strategy. These things ultimately cause overrunning costs, miscommunication among the parties indulged in the contract and lead to loss of revenue. Besides this, the report has found that, lack of timely reviewing of the contracts makes the contract a financial burden for most of the firm. The report has found that contracts act as the financial burden to the small firms compared to the large firms due to the fact that they are in their growth stage. Moving forward, it can be said that the essay has provided various ways to mitigate the risks in contract. As an effective mechanism to reduce the scope of risk in the case of contract, is to adhere with the risk management guidelines. Besides this, it has also been found that timely reviewing and proper knowledge about the contract can be proved to be beneficial for the firms to reduce the scope of risk in the contract. In addition, risk transfer is another effective mechanism to reduce the scope of risks in contracts. The essay has provided some effective recommendations, if implied these can lead to a transparent contract, which is associated with minimal amount of risk. To conclude, it can be said that contracts are effective and essential tool for every business; thus, if they can be used properly, it can help the business to reach the zenith of success and act as the buffer for any supply or demand side shock. In addition it can provide the business sustainability and fuel to indulge in more business activities. References: Ahmad, A. U. F., Mahbob, I. B., Ayub, M. (2016). The nature of retakaful: risk sharing or transferring risks?.Chapters, 171-191. Biais, B., Heider, F., Hoerova, M. (2016). Risk?Sharing or Risk?Taking? Counterparty Risk, Incentives, and Margins.The Journal of Finance,71(4), 1669-1698. Edsparr, P., Fisher, P. (2014). 5 Tail risks and contract design from a financial stability perspective.Developments in Macro-Finance Yield Curve Modelling, 121. El-Sayegh, S. M., Mansour, M. H. (2015). Risk assessment and allocation in highway construction projects in the UAE.Journal of Management in Engineering,31(6), 04015004. Grote, G. (2015). Promoting safety by increasing uncertaintyImplications for risk management.Safety science,71, 71-79. Harrell, A. C. (2016). The importance of contract law: A historical perspective.Okla. City UL Rev.,41, 1. Jrgensen, M., Mohagheghi, P., Grimstad, S. (2017). Direct and indirect connections between type of contract and software project outcome.International Journal of Project Management,35(8), 1573-1586. Kendrick, T. (2015).Identifying and managing project risk: essential tools for failure-proofing your project. AMACOM Div American Mgmt Assn. Kerzner, H., Kerzner, H. R. (2017).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Klijn, E. H., Koppenjan, J. (2016). The impact of contract characteristics on the performance of publicprivate partnerships (PPPs).Public Money Management,36(6), 455-462. Lin, C. (2016, July). The risk management under conditions of contract for EPC in overseas projects. InLogistics, Informatics and Service Sciences (LISS), 2016 International Conference on(pp. 1-5). IEEE. Liu, B., Dong, S., Wu, D., Xu, H. (2016). Contract Risk Aversion of the Simulation Model of the Coordination between the Supply and Demand on Both Side.International Journal of Simulation--Systems, Science Technology,17(5). Lobo, M. J., Newhouse, S., Bergstrom, W. R. (2017). Case Study: Excavation Adjacent to High Pressure Natural Gas Transmission PipelinesA Risk Management Approach. InGeo-Risk 2017(pp. 184-193). Love, T., Trowbridge, T. (2017). Beyond IllustrationsThe Importance of Contract Language.Journal of Financial Service Professionals,71(4), 67-79. Mishra, D., Sharma, R. R. K., Kumar, S., Dubey, R. (2016). Bridging and buffering: Strategies for mitigating supply risk and improving supply chain performance.International Journal of Production Economics,180, 183-197. Neale, T., Weir, J. K., McGee, T. K. (2016). Knowing wildfire risk: scientific interactions with risk mitigation policy and practice in Victoria, Australia.Geoforum,72, 16-25. Olson, D. L., Wu, D. D. (2015).Enterprise risk management(Vol. 3). World Scientific Publishing Company. Shokoohyar, S., Qi, A., Katok, E. (2017). Project Management under Risk-Sharing Contracts. Sderblom, A., Samuelsson, M., Mrtensson, P. (2016). Opening the black box: triggers for shifts in business angels risk mitigation strategies within investments.Venture Capital,18(3), 211-236. Wellin, M. (2016).Managing the psychological contract: Using the personal deal to increase business performance. CRC Press. Yildiz, A. E., Dikmen, I., Birgonul, M. T., Ercoskun, K., Alten, S. (2014). A knowledge-based risk mapping tool for cost estimation of international construction projects.Automation in Construction,43, 144-155.

Sample Admission Essay ForAcademic Middle School

Sample Admission Essay ForAcademic Middle SchoolIn order to find a good sample admission essay for academic middle school, you should start by going online. This is a place where you can get great information about admission essays and writing essays for every other level of education. You can also find tips on what to write about, how to improve your essay, and what to do if your academic essay is rejected. However, some of the information on this website may not be applicable to your application.One tip is to read through your admission essay several times to ensure that everything is correct. You can also write down what you think should be the most important points in your admissions essay. Then you should take these points and move them around a bit. Your admission essay will look different when you have learned how to write a better essay. Make sure that you also practice and apply the tips that you have learned so that you can write the best essay possible.First, you will want to remember that your admission essay for academic middle school is one of the most important parts of your application. You will want to write your essay in such a way that it makes a statement about who you are as a person. You want to write your admission essay using specific words and sentences to represent your thoughts and opinions on certain subjects.Most students who apply to middle school have a few ideas that they would like to include in their college essays. Some of these ideas may be specific to middle school. Others may be more general in nature. This is where you must take a look at your admission essay. What type of content do you want?You can use this information to make your essay personal. You can say that you have always wanted to be a teacher but that you have not had a chance becauseyou were a bit shy when it came to making friends. You can say that you know a student who has been accepted to an Ivy League university but has not been able to afford the cost of tuition because she cannot get enough money from her job. You can mention this student's amazing talent in drawing or making origami and mention that the student is only a year away from graduating from college.You can also use your admissions essay for academic middle school to make a statement about the student's career goals. If you are applying to a higher level of education, you can make a statement about getting into the graduate program of your choice. If you are applying to a junior college, you can make a statement about getting an internship at a large corporation. You can also use your admission essay for academic middle school to make a statement about getting a full scholarship for your college education.The purpose of your admission essay for academic middle school is to impress the admissions officer. The best way to do this is to make your essay about something that the admissions officer has not seen before. A student who writes about his love of shopping has a bet ter chance of being accepted to the best bookstore than a student who writes about the pleasures of working at the library. In order to stand out in an essay, it is necessary to make an interesting statement about a topic that the admissions officer has not seen before.When you are preparing your essays for high school, make sure that you understand that the essays that you are required to write are different from those that you will be required to write in college. While the principles are similar, the formatting is completely different and you should make sure that you understand this. Even though you may be writing about a certain subject, this does not mean that you cannot include information that is completely unique to your own situation. You should know that there are many different samples of admissions essays that you can use to help you get started.

Why I Chose Wisconsin free essay sample

I am applying to only one college and that is the University of Wisconsin-Madison. As a college-bound wrestler I considered Stanford, Northwestern, Nebraska and Wisconsin. I visited all these schools and looked carefully at all my options. Every school had pros and cons. Stanford was great academically, but far away, and I have always wanted to wrestle in the Big Ten. Northwestern was a great school and close to home, but they did not have a serious need for someone at my weight. Nebraska had a great wrestling program and they needed a 141 pounder, but it was far away and the academics were lacking. I chose Wisconsin because it is my home state, I know and respect the coaches and many of the wrestlers and also because the college is selective with their admissions and the business school is highly ranked. I made my decision based on what I think will benefit me the most during my lifetime, not on strictly which school can make me the best college wrestler. We will write a custom essay sample on Why I Chose Wisconsin or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a student at the University of Wisconsin-Madison I will take advantage of the great academics, become an integral part of the wrestling program and participate in extracurricular activities associated with the School of Business. My first priority is academics. I worked hard in high school to achieve an overall grade point average of 3.9, to score a 29 on the ACT and to enter college with 13 AP credits. I look forward to participating in classes at UW that are above average in terms of difficulty, etc. I like to think outside the box and I anticipate that the courses at Madison will not disappoint! My goal is to continue to achieve good grades and to be admitted to the School of Business at the end of my freshman year. In late November I will sign an early letter of intent to wrestle for Wisconsin. I am passionate about wrestling. Wrestling is a sport that has taught me a considerable amount of discipline and mental toughness. I expect college wrestling to be much more challenging than high school but I am well-prepared for that challenge. I know that the UW team is actively involved in volunteering and I welcome the opportunity to participate in that aspect of the sport. Lastly, I expect to participate in several clubs that are part of the School of Business. I believe that by participating in these extracurricular activities I will make invaluable contacts and expand my education outside the classroom. Although I am uncertain at this point what club I will actually participate in, the Entrepreneurship Association looks like an organization that I would like to become actively involved in as I hope to someday own and operate a successful business.

Shurooq Shares and Bonds

Shurooq Shares and Bonds Introduction Shurooq is a development agency firm based in Shirjah, in the United Arab Emirates. The company is officially known as The Sharjah Investment and Development Authority. The company was established in 2009 with the special mandate of evaluating and following up on infrastructure projects that are related to tourism.Advertising We will write a custom essay sample on Shurooq Shares and Bonds specifically for you for only $16.05 $11/page Learn More The development agency focuses on providing all possible facilities as well as incentives with the aim of attracting more investors to Shirjah. Shurooq is listed on the local Dubai Financial market where its shares and bonds are traded to the public. This paper analyses possible share problems that were faced by the firm in the past, while ascertaining the causes and remedy that was employed to address the situation. The paper also offers recommendations on the challenge. Losses in Shurooq Shares and Bond s Global financial crisis Shurooq was formed in 2009, a time when the global financial crisis was at its peak. Although the crisis’ origin was in the United States of America, the repercussions were far reaching with countries and firms placed in as far as the Middle East being affected. The global demand for oil, which is the Middle East’s economic mainstay, dropped sharply as the price per barrel rose. This consequently meant that the UAE as a whole lacked substantial funds to inject into its overall economy and firms, such as Shurooq, in order to spur growth and development. Other individual investors and firms, both local and international, also lacked the interest to invest their additional funds through share acquisition. Shurooq suffered immensely given that the firm had only been established and was keen to attract interested investors by floating its shares and bonds. Shurooq devalued its share prices by almost half the original price that the company had quot ed in a bid to influence demand for its shares and bonds. This, however, did not achieve the intended target for the firm as the demand for the company’s shares remained poor. As Shurooq struggled with poor share performance, it equally did not achieve some of its intended objectives in its first year of operation. Profit margins were unattractive throughout the year as the company slashed its budget in a bid to contend with the poor economic situation. The small profit margins kept willing investors at bay as they questioned the company’s ability to withstand hard economic times and pay them higher returns for their investments.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Manual system of operation Shurooq’s establishment saw the company rely on a less computerized system of operation, with most of its functions being carried out manually during the first months of its operation. Shurooq opted for a gradual implementation of a computerized system for its operations as it focused on stability since business establishment is often an expensive venture during the formation period. This decision, however, negatively influenced the share and bond prices of the firm. Operations were generally slow and error-prone, particularly where financial operations were involved. This slow performance eroded investor confidence amongst the few willing investors at the time. In particular, investors were forced to avail themselves physically at Shurooq’s offices in order to make enquiries and do trade with the firm. For investors residing in far-flung areas, the idea demoralized them as they could not find any convenience in the manner in which the company operated. With time, Shurooq established a computerized system that would purposely serve investors through an eTrade mechanism. The aftermath of the development consequently saw an increase, albeit relatively slow, of investor interest and confidence. Investors could comfortably make their enquiries, as well as do trade with the company from the comfort and convenience of their offices or other geographically disbursed locations due to the new developments. Poor communication Shurooq suffered from consequences of poor communication, particularly within its employees, during its initial phase of existence after establishment. Lack of market experience and general operations compounded the development agency’s troubles as there was poor coordination among workers. Interested investors were particularly shunned off by the lack of knowledge that was evident among the workers. People making enquiries about the company via phone or physically were dissatisfied with the responses they got. The workers who had been stationed at the customer care desk appeared to lack basic information concerning their own company. This prompted a significant number of interested and wil ling investors to hold on their investment decisions as they sought to give the firm more time as they observed its performance. Thus, apart from the external market conditions that slowed down Shurooq’s initial overall market performance, part of the challenges were internal. Poor communication failed to appeal to the potential and willing investors who would have eventually boosted the market demand for its shares.Advertising We will write a custom essay sample on Shurooq Shares and Bonds specifically for you for only $16.05 $11/page Learn More Market competition The United Arab Emirates has generally embarked on an ambitious program that seeks to spur development and growth of infrastructure in the entire country. This program has seen many development agencies and firms established in the country over the recent years. Some of these agencies have been in business for a relatively longer period of company compared to Shurooq. This position proved to be challenging to Shurooq’s ability to attract investors in comparison to the other established companies. The companies used their years of experience in service to properly manage their assets during the global financial crisis’ peak duration. Although the companies also experienced a slump in profitability, they managed to maintain an attractive profit margin compared to how Shurooq had faired on. This, in turn, saw quite a significant number of investors at the time opting to acquire shares of the rival firms other than committing their funds to Shurooq. Investors still acquired more of the rivals’ shares compared to those of Shurooq, despite the fact that Shurooq priced its shares and bonds at low rates compared to its market rivals. Company’s Efforts to Establish Cause of Poor Performance Survey Shurooq sought to establish the reasons that prompted poor performance for its shares and bonds at the Dubai Financial Market. A corporate survey was car ried out by the firm to understand the market situation and conditions. Shurooq enlisted the services of a third party financial company to undertake the survey on its part. The survey was done in the Dubai Financial Market, where experts from the third party financial company held discussions with the bourse’s management and technical teams. It was from the survey that Shurooq discovered how intensive the global financial crisis had contributed towards poor performance. Apart from Shurooq, many other firms listed in the stock market had experienced tough times because of the diminishing share demand. Investors had opted to remain cautious in their actions as the business situation appeared to be uncertain. The stock market had itself recorded low business performance throughout 2009 as the global financial crisis grew to its worst position. Internal company research Shurooq also conducted an internal research that mainly targeted its employees and the few shareholders it had managed to acquire since listing on the Dubai Financial Market. The research amongst employees sought to establish their opinion on some of the reasons they thought Shurooq’s performance was affected at the time. The research involved paper work, where respondents answered both structured and unstructured questions concerning Shurooq’s poor performance in the stock exchange market. To promote participation, the company did not require workers to indicate their names on the questionnaires.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The research carried out on employees noted how their own lack of information played a critical role in dissuading potential investors. The workers admitted that they were in many occasions unable to satisfactorily handle concerns raised by the market concerning investing in the firm. The poor communication structure in the firm only worsened the situation as the employees stationed at the company’s customer care department lacked immediate materials and professionals to rely on for assistance and support. On the part of the shareholders, Shurooq chose to have direct discussions with a few selected individuals to try and establish their opinion and perspectives in as far as Shurooq’s performance was involved. The face-to-face discussions involved financial experts drawn from both the firm, and mainly targeted investors who have been in involved in the share market business for a long time. The few investors were optimistic that Shurooq would eventually improve despite the turbulent times, but they generally pressured the management to speed up critical reforms. They overly noted that the manual system of operation was in bad taste for the firm and there was need for a computerized system to be installed immediately. Remedy Measures Employee retraining Shurooq immediately embarked on a program that targeted to retrain employees in a bid to equip them with significant knowledge on investment and financial matters. Though the workers hired by the firm had attained the necessary educational qualifications, there was need for them to undertake refresher courses that were customized to understand clearly the contemporary market requirements and situation. The refresher courses also aimed at improving the overall efficiency in the operations of the firm. It targeted countering the laxity that had been noted in communication among the staff and communication with the public. Shurooq undertook the refresher courses in stages, with the customer care based staff enjoying the first priority over the other staff members. Computerize operations Shurooq speedily adopted a fully computerized operation system to replace the manual system that was in place before. All the departments were fitted with internet to allow efficient communication within the firm. This move eliminated the slow processing that was being witnessed earlier on and had also been cited as part of the reason that dissuaded investors away from the firm. The company targeted e-trading by speedily computerizing all its operations to address the aspect of convenience that had been raised as a concern for poor performance. Solutions Employee retraining has played a critical role in enhancing overall service delivery at the firm. The earlier concern that prompted its inception, lack of proper knowledge on the part of the employees, was effectively addressed. Potential and interested investors who visited the firm’s premises in order to make enquiries about its operation and position were able to be answered satisfactorily. The retraining merged the workers’ ideas with the contemporary business situation and position of the firm. Thus, as keen investors sought to determine important financial issues about the firm, the workers were able to handle them professionally by providing satisfactory answers in a clear and precise manner. Retraining also improved the internal operations of the firm. Workers understood clearly how to relate with each other and how to undertake their duties and responsibilities more effectively. External stakeholders were able to notice the changes as service delivery improved significantly. The workers strove to ensure they achieved their objectives in order to influence the overall performance of their firm. The speed at which operations were being carried out improved quite substantially after the entire company was fully computerized. Workers could access all the necessary information within seconds, much to the sa tisfaction of the stakeholders by only clicking buttons. The operation costs of the company went down tremendously as Sharooq retrenched part of its huge clerical staff with computers. Expenditure in the form of salaries reduced by a huge margin as the company’s profit margin improved tremendously. Keen interested investors regained confidence and gradually began to acquire Sharooq’s shares and bonds as they had anticipated better returns since the financial state of the company started improving. Recommendations Sharooq’s management should critically consider the external business environment and remain keen on monitoring any slight changes as this may water down all the benefits so far registered by the firm. The best and safest way that Sharooq’s management can cushion its operations against adverse external environment is by investing in multiple business portfolios. The reason why the company faced an uphill task in 1999 during its inaugural phase is the fact that the global financial crisis mainly affected infrastructure building. Thus, even credit firms feared financing infrastructural projects as the returns appeared oblique, at least in the short run. However, the agency would have had a reliable source that would have perfectly cushioned its main business focus had Sharooq had other interests in separate sectors of the economy, such as transport. Most of Sharooq’s established market competitors appeared stable even in the face of the biting global financial crisis because of divesting in various economic sectors. The company’s management must be highly effective if the company has to continue positively on its recovery path. A highly efficient management will understand almost immediately when changes occur in the internal and external business environment. This will prompt them to make appropriate decisions that will be of significant effect to the company. Conclusion Shurooq is an infrastructure development agency based in Shirjah in the UAE. The company faced a huge crisis in 2009, which was also its year of establishment, when it failed to attract investors to boost its capital base. With infrastructure development being a capital-intensive venture, Shurooq’s management worked very fast to ensure the firm was listed at the Dubai Financial Market. The global financial crisis at the time informed many investors’ decision of not acquiring the firm’s shares at time. A company survey sanctioned by Shurooq’s management established that apart from the financial crisis, the firm faced internal challenges as its workface was not better placed to handle financial matters. Its manual system at the time also slowed the accuracy of performance and dissuaded many investors from the firm. However, the firm computerized its operations and retrained its workforce in a move that won investor confidence and has been critical in improving its performance in the stock market.