Aristotle’s Ideas in the Modern Work Environment Free Essays

Aristotle in the Modern Work Environment In Aristotle’s Nicomachean Ethics, each point, each significant thought, and each contention made, is totally associated back to the idea that each activity looks for an extreme decent. Aristotle felt that there is an inherent decent that people focus on and that there is this â€Å"good life† we as a whole mean to have. Be that as it may, I don't get it's meaning to be acceptable? That implies something else to everybody; we as a whole possess a wide range of jobs in our everyday lives, regardless of whether we endeavor to be a decent parent, a decent kin, a decent understudy, a productive member of society, or a decent pioneer. We will compose a custom article test on Aristotle’s Ideas in the Modern Work Environment or on the other hand any comparative subject just for you Request Now All stress the significance of our own prosperity, just as that of others, and the more noteworthy network all in all. With the end goal of this paper, the attention will be on work connections, promoting a decent workplace, and how Aristotle’s thoughts identify with the advanced work network. In the first place, we will look at the attributes of an extraordinary work environment, and afterward we will inspect how each of Aristotle’s fundamental thoughts on municipal connections identify with these advanced work connections. Regardless of whether the affiliation is that of a representative and a business, a purchaser and a merchant, or even a supervisor and a financial specialist, every relationship has basic business thoughts and regular human needs. Once in a while organizations get so made up for lost time in the business thoughts that the human needs become invalid. Be that as it may, the best organizations are the ones who can exceed expectations at both the strategic policies too the consideration of their workers. So what characterizes a â€Å"great† work environment? Is it the business with the most intricate occasion parties, the one with the most generously compensated workers, or maybe is it the business that spots an incentive in the intangibles, for example, trust, correspondence, and solid initiative? To characterize the qualities of a positive workplace, we will analyze the Great Place to Work site, who consistently, accomplices with 5,000 or more organizations and behaviors a study to discover precisely what an extraordinary working environment implies. Basically, an extraordinary workplace can be characterized by three fundamental variables; representatives trust the individuals they work for, they have pride in what they do, and they appreciate the individuals they work with. Of these three, it is the shared trust that representatives and bosses have in each other that sets the establishment for an effective organization. A business can fabricate trust with their laborers by having believability for the work yield and approaching them with deference and reasonableness. This thusly, makes a dependable representative who is devoted to creating their highest caliber of work just as propelling others to do likewise. Regardless of whether the business is a little mama pop store, or a Fortune 500 enterprise, all can accomplish a durable workplace. The best of both a representative and a business can be clarified by Aristotle’s sees on joy, the excellencies and pondering, equity, and companionship. All are interconnected, and when applied to an expert setting, help to advance a workplace that is gainful for the organization, yet more critically, the human great. Aristotle’s most significant idea is that of human bliss since satisfaction all by itself was arriving at the end great. As per him, people have three sections to their spirit. The first is the most fundamental, a vegetative state wherein every single living thing share in which we are fulfilling our generally essential of requirements. The following level is that reason that is grounded in feeling. The two are grounded in one another, and along these lines, can be influenced by one another, such in that our feelings can impact our explanation. Aristotle accepted that genuine satisfaction was drawing in the most noteworthy movement of the spirit, our ability for thought. He accepted that satisfaction was â€Å"the human acceptable [that demonstrates to be] the action of the spirit as per goodness. As such, an individual living to the fullest was the individual seeking after their motivation in existence with activity, and arriving at a specific measure of greatness in that reason. Thus, that will bring a genuine condition of satisfaction. The most ideal approach to realize this condition of individual satisfaction is through network. As far as a business n etwork, it is the obligation of the pioneers to advance a situation that centers around building up a worker’s quality, finding their latent capacity, and afterward building up that potential so as to satisfy that person’s reason. In the business world, we see individuals all the time who feel their work isn't satisfying and ailing in reason. These are additionally the sorts of individuals we see that appear at work and complete the absolute minimum vital for acquiring their check. A business who needs to have a fruitful organization needs to advance the sort of work that is in their employees’ eventual benefits and permits them to feel valuable every single day. A glad worker will be more put resources into the business’s everyday tasks, just as the general achievement of the association. The conversation of satisfaction prompts Aristotle’s next significant thoughts, those of the ethics and pondering. A cheerful individual will be somebody who lives as per the ethics. He is neither a lot of a certain something, or insufficient of another, he is in two limits. Aristotle disclosed the ideals to be an impression of the proper activity or the fitting reaction when confronted with a specific circumstances. The great choice lies in the goodness that is between what Aristotle called the â€Å"vices of excess† and the â€Å"vices of insufficiency. For instance, cowardliness would be a bad habit of inadequacy, irresponsibility would be a bad habit of abundance, and fortitude in these two would be the correct choice. Aristotle’s temperances can be separated in two different ways: mentally and ethically. Scholarly uprightness originates from training, which must be instructed over a time allotment. Moral ethicalness, then again, originates from propensity. They are ideals that should be scholarly, and that is cultivated by really rehearsing it. Individuals become righteous by performing prudent acts, and the more they are rehearsed, the more the temperance turns into a piece of one’s air. Albeit moral ethics are responses because of propensity or practice to react in specific manners, Aristotle accepted excellencies are developed through consideration. One must consider the circumstance the individual is in, and think about with regards to what great could be accomplished in that circumstance. In consideration, one must consider the â€Å"ends† the individual is attempting to eventually reach, and settle on a choice about the most ideal approach to accomplishing that final product. Ideals and the deliberative procedure are included ordinarily in the business world. A person’s ideals manage his choices, and choices must be made every day with regards to a business’s tasks, accounts, assets, clients, or even future objectives. An organization consequently needs their pioneer to be prudent so as to settle on the sorts of choices that will be in everyone’s wellbeing. A pioneer that is righteous will want to be acceptable and do great, hence he will settle on choices that are reasonable. This draws in one of the principal qualities of a Great Place to Work, and that is the pioneer advances an association dependent on trust among himself and his representatives. At the point when representatives accept their manager is examining the best game-plan when confronted with a specific circumstance, they can confide in him to make a sound and idealistic judgment. The trust that is incorporated here deciphers with deference for their bosses, and when representatives regard the individuals they work for, the whole association is allowed the chance to run easily and solidly. Another of Aristotle’s excellencies that he explicitly singles out is equity. It incorporates every single other ethicalness under its umbrella, in light of the fact that to be simply is to think about the various excellencies and act in a prudent manner. For this situation, he isn't portraying the sort of equity to correct on a crook, but instead equity in that an individual gets what he merits. Equity must keep up a specific parity in which favorable circumstances and disservices are equivalent. In Aristotle’s sentiment, voracity or the craving to have more than one’s due balances his concept of distributive equity. In this idea, riches among the network would be spread out among its individuals, with everybody accepting a lot as per their goodness. He accepted the economy was not driven by a â€Å"guiding hand† yet by correspondence. A fruitful economy disperses products not to fulfill an individual’s wellbeing, yet to encourage trades inside the network, with a definitive objective being individuals carrying on with the existence they need as per their ideals. The most upright individuals make the most critical commitments to the network, and in this way are of the most elevated legitimacy. His idea of distributive equity empowers the best benefit to go to those with the most righteousness, and not those with the most cash, the most force, or the most inside associations. The best work environments are the ones that are generally just. They show all the excellencies in the best sense, yet the vast majority of every one of, the individuals inside the organization profit by a domain of reasonableness, for both the workers and the businesses. So as to keep up the parity of equity, not one worker is treated with an unjustifiable portion of drawbacks and accordingly worries about an over the top concern. Then again, not one representative appreciates an out of line portion of preferences and in this way is excessively favored. Everybody is participating together and this sort of equity just encourages the internal operations of a business in a manner that adds to the general accomplishment of the organization. It additionally advances a reasonable legitimacy based sys

Harper Lees To Kill a Mockingbird :: To Kill a Mockingbird Essays

Harper Lee's To Kill a Mockingbird      In Harper Lee's tale To Kill a Mockingbird, there were numerous exercises that were educated. Atticus was a legal advisor who showed his child Jem and little girl Scout a wide range of qualities. Atticus felt that one of the most significant qualities was to imagined another person's perspective under the watchful eye of you judge them. He likewise instructed them to regard others. Scout was a wild young lady and consistently got into battles with different folks; Atticus gave her that battling doesn't understand anything.      Atticus indicated the children that you ought not pass judgment on others. You don't have the foggiest idea how their life is except if you are strolling around from their point of view. You have no idea on how they feel about things and what they see. They may have issues that you don't think about and they don't need you to see. They may act distinctive in view of the manner in which they were raised. You can never tell except if you see what they see.      Atticus likewise felt that you ought to consistently regard others. He felt that you ought to consistently attempt to satisfy others regardless of whether it implies holding as you would see it in some cases. Mrs. Dubose was a character in the novel who was exceptionally rude to the rich. Atticus despite everything caused them to be thoughtful to her. Jem got frantic one day and chop a portion of her hedges down. As a discipline Atticus made him read to Mrs. Dubose. Afterward, when they learned she had kicked the bucket, Atticus stated: "...She had her own perspectives about things, a great deal unique in relation to mine, maybe...son. I needed you to perceive what genuine boldness is, rather than getting the possibility that mental fortitude is a man with a weapon in his grasp. It's the point at which you realize you're licked before you start yet you start at any rate and you see it through regardless. You once in a while win, yet some of the time you do. Mrs. Dubose won...she kicked the bucket under obligation to nothing and no one. She was the most intrepid individual I ever knew."      They discovered that they shouldn't act dastardly due to their emotions about somebody. They may carry on of outrage and not so much comprehend the individual by any stretch of the imagination.      In the start of the book, Scout had a terrible temper. She got into a great deal of battles about easily overlooked details. Atticus would get exceptionally irate with her since he felt that battling was off-base. He believed that it didn't demonstrate anything.

Strategic Managemnt Essay Example | Topics and Well Written Essays - 2000 words

Vital Managemnt - Essay Example b. Monetary factor The impact of the ongoing money related emergency caused buyers to hold back on cost especially on their design wear. They are currently getting progressively touchy to cost and is thinking about less expensive brands, for example, those retailed in the general stores and discounter stores. c. Social factor The ongoing money related emergency had a colossal impact in UK’s customer conduct. They started looking for garments in grocery stores and discounter stores to have the option to save money on cost. Where before quality and brand was a premium among the consumer’s thought in looking for garments, the emergency moved their inclination towards cost. d. Mechanical factor Technology has likewise added to the adjustment in the UK design industry. It made retailing modest through web based business that requires negligible overhead bearing retailers to slice their value further to all the more likely react to rivalry. e. Natural factor The expanding min dfulness towards ecological debasement as felt by numerous and pushed by government and concerned gatherings has not just made shoppers cognizant in the sort of materials of the items are made that they purchase in the design business as well as in other industry also. Hides which used to be popular are presently viewed as a design blemish and the utilization of calfskins are currently directed. f. Authoritative factor The lifting of the lifting of the two exchange obstructions known as Multifbre Agreement (MFA, 1974 to 1994) and the Agreement on Textile and Clothing (1995 to 2004) additionally gave a road to nearby retailers to be excluded from Value Added Tax (VAT) by conforming to the four administrative prerequisite of UK. The four authoritative necessity to meet all requirements for VAT exclusion are as per the following: It must be a piece of clothing or footwear; It must not be made of hide; It must be intended for small kids, and It should just be reasonable for youthful chi ldren† (HM Revenue and Customs 2011). This exception anyway is constrained on the grounds that it is just restricted to children’s wear and could be a twofold edged blade since contenders can likewise profit a similar exclusion. Government anyway has additionally given motivator to import less expensive materials given that the severe guidelines on garments are conformed to which are; â€Å"The General Product Safety Regulations 2005. The Children's Clothing (Hood Cords) Regulations 1976. The Nightwear (Safety) Regulations 1985† (The National Archives 2011). II. Doorman Five Forces a. s. Danger of contention The opening of the UK style industry to imports has escalated competition among retailers since it presently incorporates remote contenders also. Moreover, the expanding of modest materials from different nations (for example China, India) advantageously made it general store stores and discounter stores to be a powerful modest retailers of design clothings w hich represent a genuine danger to conventional methods of retail in the style business. The contention presented by general stores and discounter stores has altogether discouraged the cost of style dress that diminished the base and center portions of the market to be seriously serious (Thame 2010) and making it hard for different retailers to contend. b. Danger of substitute items Clothing is an essential need and dress is as fundamental as food itself. In this way, garments can't be subbed. The danger in the style in

Bamboo :: Botany

Bamboo Gramineae, the grass family, has furnished human advancement from the beginning of time with an abundance of food and numerous different employments. The best three financially significant plants of the world are grasses: wheat corn, and rice. Mankind most likely would not have endure notwithstanding the grasses. The sub-family Bambusoideae, is absolutely no special case. These are the bamboos. Comprising of 75 genera and more than 1000 species, these remarkable plants have played a various and significant job in the advancement of society, as we probably am aware it today. Morphology The bamboo plant is built of an arrangement of portioned tomahawks. This is delineated by the ordinary internodal lengths and conspicuous hubs (McClure 10). They look like extending recieving wires, yet at a steady distance across. The culm is the over the ground stem, this is what is utilized for generally the entirety of the numerous applications. The culm is woody and either empty or strong, anyway most species display some level of void. The length and thickness of the culm differs extraordinarily between species. A few animal categories can get as tall as 130 feet and be in excess of a foot in distance across - these have been accounted for to develop at almost two inches every hour (Hanke 291). To be sure this would be amazing to see, dislike the grasses the vast majority of us know about. Branches, likewise portioned. emerge from the culm. Upon the branches are to be discovered leaves, with petioles. The way that the leaves have petioles assists with separating the bamboos from different grasses. The leaves and youthful shoots are the parts eaten by Pandas. The Panda stays alive on no other plant or food source. Bamboos alone prop them up securely. More on that later. New culms, or shoots, are created from a broad rhizome framework. Basically, rhizomes are changed stems, typically developing underground (Fig. 1). The rhizomes cause the bunch propensity of development displayed by the bamboos. Bunch propensity alludes to the culms developing in nearness to one another, for example, a tuft of grass, in a manner of speaking. There are essentially two sorts of rhizomes'. pachymorph and leptomorph. Most species display both, to a more prominent or lesser degree. Pachymorph rhizomes are minimized. They are related with harvest time development and produce a thick bunch of culms. Leptomorph rhizomes, related with spring development, spread somewhat more. than pachymorph, now and again significantly more. As such they are answerable for the sidelong development of a given stand, or bunch, of a bamboo species.

Brave New World Essay Example for Free

State-of-the-art existence Essay In the novel, Brave New World, the idea of class in the public arena was fundamentally foreordained by the legislature. By and large, everything about of the people’s lives, for example, birth, development, and demise is constrained by government-controlled innovation. The administration controls life by cloning a large number of human undeveloped organisms in an office called the Central London Hatching and Conditioning Center. After the cloning procedure, the undeveloped organisms are controlled to turn out to be completely developed people and partitioned into the various classes of the society’s station framework, in particular, Alpha, Beta, Gamma, Delta, and Epsilon. The people having a place with the Alpha class are the most mentally and truly created ones and are adapted to turn into the pioneers of the World State while the others are less evolved and have minor jobs in the general public. The Beta class are additionally adapted to be scholarly people yet don't groups indistinguishable aptitudes and knowledge from the people in the Alpha class. Then again, the people having a place with the Delta and Gamma classes are for the most part laborers for the higher classes. In conclusion, people in the Epsilon class have next to zero insight and just perform humble work. Besides, in the novel, there is likewise another class which is contained â€Å"exiles† of the general public. This class is essentially separated from the remainder of the world as it is situated in a zone called â€Å"The Savage Reservation,† which is where all the things that are absent in winning society, for example, marriage, normal labor, religion, despite everything exist. Fundamentally, these different ideas of class in the novel can be identified with the various classes of society and the general thoughts of achievement and disappointment in current America. In Americas contemporary setting, the various classes of society can be partitioned into three: the privileged, the working class, and the lower class or the rich, the normal, and poor people. When contrasted with the station framework in the novel, the privileged is the Alpha class, the white collar class is the Beta class, and the Delta, Gamma, and Epsilon class are the lower classes. For instance, in the cutting edge setting, individuals who do modest work like the people who have a place with the Epsilon class in the novel, are the ones who as a rule didn't complete school because of different reasons, for example, destitution. This condition is fundamentally viewed as a â€Å"failure† in contemporary America as the individual can't go up the positions in the public arena. Besides, the state of this sort of individual will be given to people in the future except if their kids can conquer their primary snag, which is destitution, and get decent training. The equivalent applies to the Epsilon class. As depicted in the novel, the Epsilon class is the least class in the station framework who have next to zero knowledge, which can be deciphered in present day America as need or powerlessness to get decent instruction. Interestingly, individuals who had the option to get a respectable training and have an unassuming way of life is like the Beta class in the novel as both by and large appreciate a reasonable measure of accomplishment. In any case, there is almost no opportunity that individuals having a place with the two classes would additionally go up societys positions. Then again, individuals who are rich and compelling like the people who have a place with the Alpha class as depicted in the novel as a rule wind up possessing multi-million organizations or winning top government posts. As it were, these are the individuals who control a huge piece of society. In any case, the primary contrast between the rank framework in the novel and the cutting edge idea of class in America is that the previous was constrained upon by others while the last was most certainly not. To put it plainly, the individuals who have a place with various classes in todays society consistently have the opportunity to coordinate their own lives while the people who are isolated by the

Thesis Topics in Sociology

Sociology is a branch of humanities that studies society, a complex system of interactions between people. Sociology is closely connected with other disciplines; thus, there are such branches as economic sociology, sociology of Religion, industrial sociology, political sociology, comparative sociology, and sociology of gender. When choosing a thesis topic in sociology, a researcher should make sure that the topic is relevant and there is enough data to prove one’s claims. However, a researcher should also choose a thesis topic in sociology based on their aptitude and interest â€Å"What is of interest for me to do my thesis in Sociology?† One of the most commonly studied subfields of Sociology is Cultural Sociology. It studies a society from the perspective of its culture, traditions, and beliefs. Most typically, the issues in Cultural Sociology are analyzed through the lens of Marx’s, Weber’s, and Durkheim’s theories. Based on these theories, a researcher may analyze the current cultural trends in the United States or other countries, cultural differences among the minority groups, or the impact of immigration on the local culture. Another subfield of Sociology is Sociology of Education. It studies the influence of various sociological and political trends on education. Topics in Sociology of Education may vary from the reaction between teacher’s level of motivation and students’ performance to how children perceive a society based on their experience in a school. Religion is also strongly connected with sociology because beliefs and the system of values in a society often determine the behavior of its members. Likewise, Sociology of Religion studies the impact of social interaction, politics, and media on Religion. Moreover, this subfield of Sociology may cover such issues as gender and social inequality in relation to Religion. There are some thesis topics that may be of a particular interest for a researcher as well as for society. For example, one may study how media shapes the perception of Religion, especially, Islam or write about the link between Religion and social changes. Economy is also believed to be among the social institutions that organize the production and consumption of goods. This field studies such systems as socialism, capitalism, and the influence of labor markets on interactions between people within a society. A thesis on Economic Sociology can also be based on Marx’s theories, for instance, a researcher can study his criticism on capitalism. Industrial Sociology is very close to Economic Sociology because it also deals with labor and work. This subfield covers a number of concepts, such as corporate citizenship, social structures in organizations, technological advancements in the workplace and their influence on the society. Political Sociology is also a complex subfield because it studies politics and society, which are largely interrelated as social changes depend on the changes in politics. Thus, researcher who wants to write a thesis on Political Sociology, may consider such topics as the applicability of democracy in a capitalist society, the link between religion and politics as social institutions, suitability of charismatic leadership in any political system of any country, how the society’s welfare depends on a political situation, or the implications of globalization in politics.

Best Website to Write My Research Paper

Best Website to Write My Research PaperWriting your research paper is a daunting task and this is why the best way to go about this is to plan ahead and get the best website to write my research paper. This will help you keep yourself occupied while writing the paper since you won't have to worry about being distracted or having any kind of ideas on how to finish it off.The best way to go about writing your research paper is to select the right topic. If you are looking for a topic that is going to have a particular target audience, you need to select the one that will not leave any room for doubt. This is what the internet is all about and with the right tool, you can be sure that you will have the right kind of information to write your research paper.Before you start the actual writing of your research paper, make sure that you know all the basics about writing it. Remember, you are not a professional but rather a student so you need to learn all about the right things to do befor e putting down your pen. Here are some tips that will help you out:Writing what you have written down is one important step. Make sure that what you wrote down is something that is useful to you. Even if you are going to read it, making it understandable makes it more manageable for you to continue writing it. While you are working on your research paper, it is important that you write down your idea so that you can refer to it whenever you are writing about the same subject.Writing the outline of your research paper should be done first. This is because it will help you keep everything organized and in order so that you won't get lost while writing the paper. A good outline will help you write your research paper in a systematic manner and that will help you to work with a straight mind.When you are about to finish your research paper, make sure that you include all the information that you need. The most important information is the title. But make sure that you include all the im portant details and facts that you need to include. It is important that you don't make it too long or else it might turn out to be boring.Writing your research paper is no easy task but you can do it in a very organized manner with the help of the best website to write my research paper. Keep in mind that every research paper is different from the next and you have to include the features that you want to include in the study. The research paper should be made in such a way that it would be interesting to the reader and it would grab his attention.

The Irish Potato Famine and The Holocaust in Literature...

The Irish Potato Famine and The Holocaust in Literature Writers often use literature as a means of communicating traumatic events that occur in history, and such events are recorded by first-hand accounts as well as remembered by people far removed from the situation. Two traumatic events in history that are readily found in literature are The Irish Potato Famine and The Holocaust. A literary medium that has been used quite poignantly to convey trauma is poetry and the poetry from these two historical traumatic events is not difficult to find. Some wrote poetry to maintain their sanity as they experienced the traumatic event while others wrote after-the-fact as an outlet for emotional pain. Some wrote in remembrance of what they†¦show more content†¦The author also benefits from writing about the trauma; a need to express what has happened, is quenched. It is shown that the â€Å"literature of trauma is written from the need to tell and retell the story of the traumatic experience, to make it ‘real’ both to the victim and to the community†¦[as well as] serving both as a validation and cathartic vehicle for the traumatized author† (Tal 21). The story is larger than the words of the author. His or her life has been permanently altered by trauma, and by acknowledging it in the realm of reality, readers can take part in the trauma. In both of the historical events above, a great many people faced trauma, pain, starvation, disease, and all for a reason that is difficult, if not impossible to pinpoint. There is no way to determine why either situation occurred in history, but it is possible to examine the literature—more specifically the poetry—written during, after, and about those surreal events. Kali Tal has researched the literature of trauma extensively and states that the â€Å"literature of trauma is defined by the identity of its author [and it] holds at its center the reconstruction and recuperation of the traumatic experience† (16). She believes that a

Human Resources Management Human Resource Management

Human Resources Management Hilti continues to grasp on success and expand globally, but their path weren’t always well defined. The company began in 1941 and historically they’ve kept to traditional strategies when it came to recognizing human resource requirements. In the early 2000’s, the company established a new set initiatives, aimed at doubling revenue and operating profits. Hilti also recognized that this type of growth would require invigorating ideas to employ human resourcing requirements throughout company. In 2006 Hilti launched an aggressive growth strategy, Vision 2015. The company acknowledged its need to develop the expertise of existing staff, attract and integrate new, highly skilled employees and enhance its leadership qualities. Eivind Slaaen, Senior Vice-President of Human Resources stated, â€Å"We believe that our business will grow if we invest in growing our people. We therefore coach and support every team member to achieve outstand ing results (Hilti | SuccessFactors, n.d.). Although the company stuck to its more customary core values the past 60 years, integrity, courage, teamwork and commitment; fell short when carried or paralleled with a centralized and more focused human resource balance. Hilti identified several challenges and shortfalls with their traditional style and recognized a need for assistance. So in 2008, Hilti employed SuccessFactors, software solution company that offered global reach, speed and the ease Hilti desired.Show MoreRelatedHuman Resources Management : Human Resource Management1140 Words   |  5 Pagesa business efficiently? Human Resource Management (HRM). Human Resources is the solid foundation that practically oversees the entire organization, whether its managing employees to surveilling the progress of every single department. 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In addition, the needs of customersRead MoreHuman Resource Management And Human Resources Management941 Words   |  4 PagesHuman Resources Management is one of the most important aspects of any organization, whether it be non-profit, not for profit, or profit. Human Resources Management is what makes it possible for a manager to be able to focus on their work and tasks at hand and not have to deal with lots of unneeded interpersonal activities. They are in charge of correctly evaluating the candidates that the managers will have to work with for the duration of the candidate’s stay. They are responsible for makingRead MoreHuman Resources Management : Human Resource Management835 Words   |  4 PagesHuman Resource Management â€Å"They humanize the brand and help workforce communities thrive† (Who). A human resource management position may be the job for you. Every business and enterprise has a human resource manager, including Starbucks, Disney and even Apple. 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Valuable decisions such as whom to recruit, what package to offer, the training necessary for the new recruits and how to assess employee performance directly affects the employee motivation and as such do affect the ability of the employee to provide products which the consumersRead MoreHuman Resources Management : Human Resource Management1398 Words   |  6 Pages Human Resource Management Overview Tanya Phillips Dr. Andrea Scott, PhD HSA 320, Strayer University October 31, 2016 Human Resources Management Overview Human resources (HR) is the different kinds of clinical and nonclinical responsibilities for public and individual health involvement. The benefits and performance the system can deliver depends upon the knowledge, skills and motivation of those responsible for providing health services. Human resource managers don’t directlyRead MoreHuman Resources Management : Human Resource Management958 Words   |  4 PagesHuman Resource Management Overview As we all know when it comes to every business and organization that is out there, they all need help from Human Resources to continue to help the company grow. What is human resource management? Well Human Resource Management is the overall process that deals with how Human Resources manages their employees as well as different issues that can come across within the organization. Human Resource Management are in charge of different tasks including recruiting asRead MoreHuman Resources Management : Human Resource Management820 Words   |  4 PagesHuman Resources Management Proper Planning is one of the most important aspects of human resource management. Without proper execution of plans, the particular needs of an organization that are the responsibility of human resources will not be reached, and therefore, will fall short of what is necessary for meeting the goals of an organization (DeCenzo, Robbins Verhulst 2013).There are many facets a human resource manager must be familiar with in order to run an organization. The functions of humanRead MoreHuman Resource Management : Human Resources Management1264 Words   |  6 Pagesand research with my family, I decided to go into human resource management, specifically in a hospital. Many people questioned and often said â€Å"Why human resource management?† My answer, I chose human resource managers because I believe they are a vital part of a hospitals success. They make the plans, they direct the staff and they coordinate how people work together and where they need to be. Throughout this paper , I will describe human resource managers- what they do, what are the requirementsRead MoreHuman Resource Management : Human Resources Management Essay1010 Words   |  5 Pageshave chosen to study this semester is Human Resources. The position I hope to have in this field in the future is in Human Resources management. Human resources is the division of a company that focuses on activities relating to employees. Human Resources staff search for new recruits, use their knowledge and work to find the best person for the job. Human Resources management are a vital link to the overall structure of a company. Human Resources management dates back as early as the 1920’s where

A Study On Infant Mother Attachment - 1493 Words

Infant-mother attachment was first proposed by Bowlby (1958) and was further explored by Ainsworth and Bell (1970) in a Strange Situation study where they categorized infant-mother attachment into three which are secure, avoidant and ambivalent. In this context, attachment can be defined as an interaction between a child and a mother which implies affections that is observable through the act of the child to seek for proximity or contact with the mother (Dallaire Weinraub, 2005). Nevertheless, this attachment study did not end after this finding. Instead, many researchers replicate this measures, trying to figure out whether attachment change after the first year of life and the differences of infants and adults attachment styles. Strange Situation is a laboratory procedure experiment where a dyad of a mother and her one year old child was placed in a room at a time with a stranger. Infants were encouraged to explore the room that was filled with toys. The three stages involved in the Strange Situation were exploratory, separation and reunion episodes. It was found that infants’ exploratory behaviour were at the highest with the presence of the mother. However, the absence of the mother will then discouraged exploration and thus, they will seek for reunion with the mother. Based on this observation, infant-mother attachment were put into categorization where infants that follow the expectations of Strange Situation has a Type B or a secure-based attachment. Meanwhile,Show MoreRelatedThe Development Of Attachment Theory1336 Words   |  6 Pagesdevelopment of attachment theory since the time of Bowlby and the many theories proposed to determine which best describes attachment. The Attachment theory high lights the importance of attachment especially between mothers and infants in regards to the infants personal development, both physically and emotionally. Bowlby describes attachment as â€Å"lasting psychological connectedness between human beings†(Bowlby, 1969, p.194). Bowlby’s attachment theory suggested that mothers and infants have a biologicalRead MoreHow Infant Attachment Is Affected By Mother Infant Relationship1427 Words   |  6 Pageshave an effect on a developing infant’s ability to grow an attachment and a bond with said parent. This holds especially true for the bond between the mother and the infant, be it that on average the mother-infant dyad spends the most one-on-one time together comparatively. According to Raval and colleagues (2001), a parent’s state of mind influences their sensitivity in caregiving behavior, which then has an effect on the child’s attachment pattern/strategy. There are a wide variety of other factorsRead M oreEasterbrooks And Graham (1999) Studied How Housing Status1603 Words   |  7 Pagesstatus affected infant attachment. The study consisted of 112 low-income mothers and their infants. Fifty-five of the dyads were homeless and living in shelters for at least seven days while the other 57 dyads were never homeless and living below the poverty line. These families were a hide range of different races and ethnicities including Caucasian, African American, and Hispanic. Mothers completed the Attachment Q-Sort, answering 90 statements about the behaviors of their infant. Unlike manyRead MoreModifications of Bowlbys Attachment Theory Essay1724 Words   |  7 PagesModifications of Bowlbys Attachment Theory Bowlbys original theory of attachment was concerned with the bonding relationship that develops between an infant and his primary caregiver. He believed the process of bonding to have a biological basis as the genes of those infants who successfully sought the protection of a caregiver (from predators and other dangers) will have survived and been passed on. Bowlby also formulated the Maternal Deprivation hypothesis (1953)Read MoreEffects Of Maternal Separation On Children s Development1397 Words   |  6 Pagesplays a vital role in the child’s life. Studies were performed by John Bowlby and Mary Ainsworth to observe the effects that maternal separation had on the child’s development. The hypothesis they formed based off their observations became known as the attachment theory. The attachment theory came about on the core principle that â€Å"children brought up with consistent, loving parents or significant, reliable caregivers can develop a foundation of trust and attachment and can grow up to be well-adjustedRead MoreThe Development of Attachment Essay793 Words   |  4 PagesThe Development of Attachment Psychological research can inform us about the development of attachments to a certain extent. Mary Ainsworth actually covered a definition explaining, how we know when an attachment has developed. This is; the infant tries to get close to and maintain that proximity with the caregiver, using a number of strategies to do so. E.g. clinging and signalling behaviours such as smiling, crying and calling. The fact she has outlined this definitionRead MoreRelation: Infant Mother Attachment and Eating Disorders1510 Words   |  7 Pageslinks between infant mother attachment and eating disorder behavior. Throughout this paper the two main theorists that are looked at are Mary S. Ainsworth and John Bowlby. Mary S. Ainsworth’s framework of attachment theory began in Uganda, while studying individual difference in infant behavior, which is known as the Strange Situation. John Bowlby coined the theory of infant mother attachment based on object relations psychoanalytical theory and the conceptualization that infants need healthy maternalRead MoreRelationship Between Disorganized Attachment And The Early Stages Of Infancy Essay961 Words   |  4 PagesD. R., Otten, R. (2007). Unresolved maternal attachment representations, disrupted maternal behavior and disorganized attachment in infancy: Links to toddler behavior problems. Journal Of Child Psychology And Psychiatry, 48(10), 1042-1050. doi:10.1111/j.1469-7610.2007.01805.x Madigan, Moran, Otten, Pederson, and Schuengel conducted a longitudinal study (2007) with the purpose of finding the relationship between disorganized attachment in the early stages of infancy and behavior problemsRead MoreThe Emotional Link Of Attachment1661 Words   |  7 PagesIntroduction Attachment is one of the developmental milestones that begins during conception and remains throughout one’s life. It is defined as the â€Å"strong affectionate tie we have for special people in our lives that lead us to experience pleasure and joy when we interact with them and to be comforted by their nearness in times of stress† (Berk, 2011, p. 264). When an individual meets the child’s needs, an attachment begins to form. The primary caregiver, preferably the mother, is considered toRead MoreThe Effects Of Hormones On Infants Mothers Essay1341 Words   |  6 PagesWhen expectant mothers are making their birth plans to deliver their new babies, one must have option is skin to skin contact directly after delivery. Babies are placed on their mothers chest resulting in reduced crying, improves mother baby interaction, keeps the baby warmer, and helps woman breastfeed successfully (Moore, Anderson, Bergman, 2007). Skin to skin contact can also stable a baby†™s temperature naturally instead of having to place the baby in an incubator. Skin to skin contact also

Personal Statement Personal Development - 777 Words

Personal Development refers to accomplishments that improve self-knowledge and foster talents and potential, form employability, boost quality of life and contribute to the fulfillment of desires and dreams. Personal development is not limited to self-development but also embraces actions for developing others. As personal development takes place in the context of societies, it refers to the tools, techniques, and assessment methods that support human development at the individual level in organizations. Reflective leadership is a way of approaching the work of being a leader by leading one s life with presence and personal mastery. Without self-awareness, I cannot understand my strengths and weakness. Sometimes, leaders greatest strengths may become their greatest liabilities. Their personal characteristics and behavior forms may adversely influence how others perceive them. Reflective Leaders are sometimes considered reserved or even indifferent which results in feeling undervalued , misunderstood, ignored, and not acknowledged for their contributions. To maximize my most valuable asset and to be a more impactful leader in my future career, I need to make a positive impact and be a role model for others through understanding of my core values and blind spots of my personality or what I call them my strength and weaknesses. Knowing my personal strengths can also aid a lot in picking the right career or making good decisions in my future career. The simple fact is that if IShow MoreRelatedPersonal Statement : Personal Professional Development1250 Words   |  5 Pages) Personal Statement Personal professional development is important process these days because it enables people to become more aware of their own skills, knowledge and behaviors . This in turn is necessary for the self-improvement which is crucial to people in order to for example getting promoted at work as the market becomes more competitive . Back in College, during my HND in Business Course one of the subjects was Personal Development. Now I know that without this experience I would not be ableRead MorePersonal Statement : Personal Development Plan897 Words   |  4 Pagesmy new personal quote to live by after the OL 125 course. There were plenty of challenges during this term for me but, I didn’t give up. I ve learned so much about myself and have decided to make major changes due to the assessments and the knowledge gained from the chapters in â€Å"Human Relations in the Organization† book. From a previous course, I knew making a plan would be fundamental but never did put it on pa per until now. I truly appreciate having to complete a â€Å"Personal Development Plan† becauseRead MorePersonal Statement For Employee Development Essay783 Words   |  4 Pagesorganization’s guidelines for employee development, which included flexible work schedules. By doing this, the supervisor refused to consider the other employee’s need for work-life balance. The department staff did not receive the loss of flexible work arrangements well. The young woman was the first to leave, but within six months, several employees found employment elsewhere. Many employers have enacted policies and strategies to encourage employees to balance their personal and professional responsibilitiesRead MorePersonal Statement On Child Development1373 Words   |  6 PagesMichelle Seiler 12/8/14 CD #2 Philosophy on Child Development 1) Why you have chosen to be in the field. Children in this field can develop a positive self-esteem, foster a love of learning, and develop important social skills. I choice the field of child development because preschool age children are eager to learn and a joy to teach. I enjoy creating developmentally appropriate activities for children. They enjoy a variety of activities and need to be guided through play. The qualitiesRead MorePersonal Statement : Professional Development1980 Words   |  8 PagesAlthough my professional development started as a different career in Special Education the two careers’ professional development is similar in terms of dispositions and some skills as well. The dispositions would include social responsibility, work ethic, and reflective practices. Similar skills are collaboration, research and evaluation, and assessment. Hence, my professional development is a lifelong process that took some twist and turns. My professional development start with me pursuing a careerRead MorePersonal Statement : Child Development Essay1912 Words   |  8 PagesJackie Dennard, Child Development 1, Issue paper Issue Paper : Child Abuse I was just done talking over the phone with my beloved mother whose back in my home country, the Philippines. We talked about stories when us, her children were young and we happened to touch on the topic how she and my dad had to take care of five more children, who are my cousins aside from their already twelve biological children because their parents, abused, neglect and eventually abandoned them. So then IRead MorePersonal Statement : Leadership Development Plan1158 Words   |  5 Pages Frank Parise Leadership Development Plan Paper Week 7 Professor Kelley-Rodriquez 6/17/2015 Table of Contents Abstract Summary to Personal Mission Statement My leadership for the future follows a very distinctive path. As I have worked with multiple organizations and companies, I still have a long way to go for more knowledge and experience in leadership. Leaders always need to train and adjust their skills to the ongoing evolution of economics. I seeRead MorePersonal Statement : My Development Plan924 Words   |  4 PagesIn my development plan, I will first discuss my strengths and my growth areas. The feedback I have received from others is that I treat others with respect. I do not talk down to others but treat them as equals. Something else people tell me is that I work hard. Once I understand a task, I learn to get better at it. From there I produce a quality output. My growth areas consist of networking, communication, attention to details, listening, and relationship management. I know the basics ofRead MorePersonal Statement : Organizational Development Practitioner1684 Words   |  7 PagesIntro: Overview: Organizational development practitioner Rick Buccheri discussed his experiences of conflict management in several organizations. Primarily, his discourse was about the United Parcel Service and the Transportation Security Administration. He outlined his working theory that institutions should encourage â€Å"conflict engagement.† This is where individuals, groups, and systems would identify underlying conflicts that have yet to be expressed. Bucherri says good conflict engagement forRead MorePersonal Statement : Leadership Development Plan1748 Words   |  7 PagesWritten Leadership Development Plan During the last six weeks, I have learned a lot about the true meaning of a good leader. The discussions have helped me identify what my strengths are and what are the areas that I need to improve on. Although, I have been in management roles, I would not identify myself yet as a leader. I am a very result driven individual which is strength of mine, but that can also lead me to be desensitized to other’s emotions or challenges they might be facing. Throughout

Effect of Automated Teller Machines Samples †MyAssignmenthelp.com

Question: Discuss about the Effect of Automated Teller Machines. Answer: Introduction IoT can be described as interconnectivity of things such as digital devices, people, animals or objects that are uniquely identified and are able to send information/data over a computer network without having interactions such as person-to-person or even person-to-device (Barrett, 2016). High development rate of rising technology in the world has enabled IoT to gradually evolve in different aspects of life in the world today. The use of IoT has extended to various sectors such as health, agriculture, banking, education among others. The use of these applications brings about great benefits to the various sectors in life. These benefits majorly include; improved service delivery, reduced service delivery cost, reduced errors involved, increased production and services rates, among others (Patel, 2017). To understand more on the IoT, this document will try to explain it using an ATM system as used in banking sectors today. Problems before ATM system Before the emergence of ATM systems, banks used to experience long queues since customers used to access services from the human-tellers directly. This meant that more human labor cost was incurred by the Banks and also more time was needed to make one transaction, thus leading to fewer transactions. Also it without ATM it means customers can only transact during banks working hours. Solutions Provided by ATM With emergence of ATM machines as a result of internet development meant that most of the banks customer had only to use their cards to access their accounts and make any transactions of their choice. This therefore meant shorter queues and less labor cost while transactions increased. Also customers are able to transact at any time beyond banks operational time. Features of ATM An ATM system is a data terminal that consists of various input and output components. The input components consist of a card reader and a keypad while the output components include card slot, the speaker, screen, cash dispenser and receipt printer. Its functional features are withdraw, deposits, bill payments, print receipts and account update (Gui, 2015). An ATM system can be diagrammatically represented below. Figure 1 url: https://www.google.com/search?q=problems+addressed+by+ATMclient=firefox-betarls=org.mozilla:enUS:officialchannel=fflbsource=lnmstbm=ischsa=Xved=0ahUKEwjJ7fqdmbvVAhXhL8AKHeQTBN8Q_AUIDCgDbiw=1366bih=657#imgrc=bwZa51ANeQMd7M: How ATXM system works An ATM machine communicates to the bank via the internet. Customers insert their credit/debit card on the card slot then they are prompted to provide their PIN. Then ATM machine then communicates to the bank server in order to validate the information provided by the customers before any transaction is done. And in case where the information is not correct the customer will be notified via a display screen on the machine or audio via the speaker. If the credentials are correct the customer is allowed to proceed to choose a transaction of their choice and after the transaction one is given an option to print a receipt (Seksaria, 2016). Advantages of ATM Fast and easy banking services access. With ATMs in place customers are able to access their bank accounts and perform various transactions without having to walk into the bank at any time of the day. Reduced Cost and service delivery time. Saves the financial institutions quite a great deal of hiring bank personnels that could serve the great number of customers. Thus reducing cost both in terms of money and time (Adewoye, 2013). 24 hours Accessibility. ATM system allows customers to perform their transactions even when the time is out of bounds of the normal banking time. More Transactions. Banks experience more profit as a result of more transactions via ATM. Disadvantages of ATM system as an IoT According to (Ryan, 2015), ATM systems facilitate problems such as: Fraud - involve identity theft done via the internet. Fiscal planning problems - which mislead the customers since no banking statements are generated when transaction are done. Operational issues and banking fees that is costly. Conclusions In conclusion it is therefore evident from the example of the ATM system discussed above that Internet of Things has a great impact on the banking sector worldwide today even though it comes with few challenges. The use of internet to implement systems such ATM brings about new and more convenient ways of doing business in the world of financial sector. Thus IoT has a great impact in the world today and if implemented wisely across all aspects of life service delivery and production rates as well as life at large will be changed for good. References Adewoye, J. O. (2013). An Empirical Evaluation of the Effect of Automated Teller Machines Investment on Cost Efficiency of Banks in Nigeria. Asian Journal of Computer and Information Systems (ISSN: 2321 5658), 63-64. Barrett, D. J. (2016). Internet of Things (IoT). Illinois: Nimbus Centre for Embedded Systems Research at Cork Institute of Technology (CIT). Retrieved on https://www.google.com/search?q=Nimbus+Centre+for+Embedded+Systems+Research+at+Cork+Institute+of+Technology+%28CIT%29%5Cie=utf-8oe=utf-8client=firefox-b-ab#. Fasan. (2013). The Impact, Advantages of using Automatic Teller Machines in Nigerian Banking Sector. Biovolt Corporation. Gui, W. (2015, May 25). Technology. Retrieved March 3, 2017, from Slide Share: https://www.slideshare.net/weje855/atm-system-description-and Patel, K. (2017). Health and Medicine. Retrieved on 27th July 2017 https://www.ibm.com/blogs/internet-of-things/6-benefits-of-iot-for-healthcare/. Ryan, D. B. (2015). The Disadvantages of Automatic Teller Machines. University of Cincinnati and Indiana University: Retrieved on 27th July 2017 https://www.livestrong.com/article/23766-elliptical-vs.-exercise-bikes/. Seksaria, K. (2016). How do ATM machines work internally? Retrieved on 27th July 2017 https://www.quora.com/How-do-ATM-machines-work-internally.

Resource Management Practice Handbook Human -Myassignmenthelp.Com

Question: Discuss About The Resource Management Practice Handbook Human? Answer: Introducation There are different ways through which the companies are motivating their employees in order to get good amount of revenues and profit in the future. Proper and productive staffs are essential in the company, as this will help them in achieving proper goals for their company as well. The various ways through which the company can motivate their staffs are as follows: Properly recognize the hard work of the employees in the organizations as this will motivate them and this will help them in enhancing their morale (ZOLFAGHARI et al. 2016). There are companies in Europe such as Impact International as well as UKFast is recognizing their discretionary effort that has been made by them (SANEGHI and AHMADY 2016). Properly set measurable goals for their employees as this will motivate their employees and it will help them in providing proper and effective results with their discretionary efforts as well (Burgress 2013). Regular breaks have to be provided by employers to their employees in order to provide motivational influence at the workplace (Knutson and Berridge 2017). Providing clarity in the work is essential as well as this will help in providing the employees a clear view of the mission of the company as this can help them to achieve such tasks without much difficulty (Brown 2016). The elements of successful teamwork that Hackman has identified are as follows: The size of the teams should be kept small and have consistent membership that helps in minimizing the tasks of coordination and reduces valuable time The support has to be in place such as offering group based rewards In order to achieve full and good performance the organizations need to consider the different stages of development in the groups (Johnston and Marshall 2016) Lastly, the successful teams need to have assertive as well as courageous leaders as this will help them in carrying their teams to a correct direction. These elements are effective in nature, as this will help the team in generating positive outcomes in the future. The other conditions to make the team effective are as follows: Establishing proper leadership (Vann, B.A., Coleman and Simpson 2014) Build proper relationships with the employees Fostering teamwork Steps followed to avoid such problems are as follows: Fostering the teammates in order to perform effectively Build proper relationship among the employees (Ferreira et al. 2014) Proper leader and employees relationship has to be maintained (Doh and Quigley 2014) Ways to break the overall group goal into subtasks: Proper delegation of the different tasks (Klenke 2016) Allocating specific tasks to specific group of individuals who are specialized in such subjects Lastly, the team leaders has to be assertive in nature in order to achieve goals The projects or the different parts of the project that can be handled by the employees in the organization can be delegated to them, as this will make the task easier for the CEO of the company. Proper delegation and decentralization is necessary as to reduce the burden from the higher authorities (Pemsel and Wiewiora 2013). Parks can deal with the problems with properly following the creative core of the entire business (Turner 2016) She can select the good candidates with proper analysis and consultation of the other members in her team who handles recruitment of the staffs (Mir and Pinnington 2014). The executives can control the important decisions of the organization with prior permission taken from the higher authorities (Boud, Cohen and Sampson 2014) The executives cannot take important decisions themselves and take in charge of the decisions as this can affect their reputation and this can cause them trouble as well. Some of the tasks that can be delegated are as follows: Customer service Promotional activities Market research Computer support (Too and Weaver 2014) These are the different activities that can be delegated by the higher authorities to subordinates as these are the tasks for which different experts has been hired to complete the task without difficulty Understanding the employee concerns by organizing meetings at regular intervals (Shahmirzadi and Bashiri 2014) Proper mailing system is necessary as this will help the employees to feel protected Penalty has to be implemented by the companies as to make the employees safe The managers can bring unspoken conflicts at the workplace with organizing meetings along with organizing mailing system, as this will help in effectively solving such issues without much difficulty (de Arajo, Guimares and Ferneda 2013). The negotiators can use the conflict-management strategies to their advantage by: Speak to what is possible in nature Involve uncertainty (Rothman 2017) Negotiators has to be compelling in nature (Westwood and Rhodes 2013) Therefore, the negotiators need to tie the conflicts with fundamental values through which the negotiator can handle conflicts in the organizations, as this will help them in resolving the conflicts (Birkinshaw and Gupta 2013). When an employee in an organization is suffering from mental trauma and he/she is not able to handle the pressure but still keeping quiet as it makes him/her feel that opening mouth and complaining about the issues can lead to conflicts. This has worsened the situation and this has made the employee to commit suicidal activities as well. However, the employee could have sorted out the issue with the top officials, as this would have helped him/her in solving the issues easily. The interpersonal skills those are necessary such as motivation, group behavior along with conflict management as this helps in analyzing the different issues that can be faced by the employees. Culturally relative means that all the strategies such as the motivational as well as conflict management strategies will help in resolving issues in the workplace. The training as well as other human resource management practices are essential in nature and they are culturally relative to one another as well (Sparrow, Brewster and Chung 2016). Training is essential in making the employees aware about the different policies of the organization (Storey 2014) Similarly, motivation is essential as well as this will help in achieving productive results in the future (Armstrong and Taylor 2014) On the other hand, conflict management is essential as this helps in managing the conflicts through usage of different procedures in the organization that can help the employees to work properly. The employees and employers both need to follow such training and other strategies related to conflict management as this helps them in managing the dignity in the employees and employers (Brewster et al. 2016). Lastly, all of them are culturally relative to each other as this helps the employees in resolving the conflicts along with the employers can provide motivation to the employees as well (Jackson, Schuler and Jiang 2014). References Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. Brewster, C., Houldsworth, E., Sparrow, P. and Vernon, G., 2016.International human resource management. Kogan Page Publishers. Jackson, S.E., Schuler, R.S. and Jiang, K., 2014. An aspirational framework for strategic human resource management.Academy of Management Annals,8(1), pp.1-56. Sparrow, P., Brewster, C. and Chung, C., 2016.Globalizing human resource management. Routledge. Storey, J., 2014.New Perspectives on Human Resource Management (Routledge Revivals). Routledge.

IMF AND India Relations free essay sample

During the Great Depression of the 1930s, countries attempted to shore up their failing economies by sharply raising barriers to foreign trade, devaluing their currencies to compete against each other for export markets, and curtailing their citizens freedom to hold foreign exchange. These attempts proved to be self-defeating. World trade declined sharply (see chart below), and employment and living standards plummeted in many countries. This breakdown in international monetary cooperation led the IMFs founders to plan an institution charged with overseeing the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to buy goods and services from each other. The new global entity would ensure exchange rate stability and encourage its member countries to eliminate exchange restrictions that hindered trade. The Bretton Woods agreement The IMF was conceived in July 1944, when representatives of 45 countries meeting in the town of Bretton Woods, New Hampshire, in the northeastern United States, agreed on a framework for international economic cooperation, to be established after the Second World War. We will write a custom essay sample on IMF AND India Relations or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They believed that such a framework was necessary to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression. The IMF came into formal existence in December 1945, when its first 29 member countries signed its Articles of Agreement. It began operations on March 1, 1947. Later that year, France became the first country to borrow from the IMF. The IMFs membership began to expand in the late 1950s and during the 1960s as many African countries became independent and applied for membership. But the Cold War limited the Funds membership, with most countries in the Soviet sphere of influence not joining. 1. 2 IMF: The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries. The IMFs stated goal was to assist in the reconstruction of the worlds international payment system post–World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries. The IMF describes itself as â€Å"an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. † The organizations stated objectives are to promote international economic co-operation, international trade, employment, and exchange rate stability, including by making financial resources available to member countries to meet balance of payments needs Its headquarters are in Washington, D. C. , United States. 1. 3 Member countries IMF member states IMF member states not accepting the obligations of Article VIII, Sections 2, 3, and 4 The 188 members of the IMF include 187 members of the UN and the Republic of Kosovo. All members of the IMF are also International Bank for Reconstruction and Development (IBRD) members and vice versa. Former members are Cuba (which left in 1964) and the Republic of China, which was ejected from the UN in 1980 after losing the support of the US President Jimmy Carter and was replaced by the Peoples Republic of China. However, Taiwan Province of China is still listed in the official IMF indices. [ Apart from Cuba, the other UN states that do not belong to the IMF are Andorra, Liechtenstein, Monaco, Nauru and North Korea. The former Czechoslovakia was expelled in 1954 for failing to provide required data and was readmitted in 1990, after the Velvet Revolution. Poland withdrew in 1950—allegedly pressured by the Soviet Union—but returned in 1986. Qualifications: Any country may apply to be a part of the IMF. Post-IMF formation, in the early post war period, rules for IMF membership were left relatively loose. Members needed to make periodic membership payments towards their quota, to refrain from currency restrictions unless granted IMF permission, to abide by the Code of Conduct in the IMF Articles of Agreement, and to provide national economic information. However, stricter rules were imposed on governments that applied to the IMF for funding. The countries that joined the IMF between 1945 and 1971 agreed to keep their exchange rates secured at rates that could be adjusted only to correct a fundamental disequilibrium in the balance of payments, and only with the IMFs agreement. Some members have a very difficult relationship with the IMF and even when they are still members they do not allow themselves to be monitored. Argentina for example refuses to participate in an Article IV Consultation with the IMF. Benefits: Member countries of the IMF have access to information on the economic policies of all member countries, the opportunity to influence other members’ economic policies, technical assistance in banking, fiscal affairs, and exchange matters, financial support in times of payment difficulties, and increased opportunities for trade and investment. Main Countries In the IMF The main member of the IMF is the US, which also enjoys exclusive veto power. Other countries that enjoy voting rights are Japan, Germany, France, China and the UK as its main member. Based on the quota system, the IMF assigns each member country with voting power, subscriptions and special drawing rights (SDRs). Presently there are memberships of 184 countries over the world and a staff of approximately 2,680 from 139 countries. Total Quotas to the extent of $312 billion (as of 8/31/05). Loans outstanding $71 billion to 82 countries, of which $10 billion to 59 on concessional terms (as of 8/31/05) and technical Assistance provided 381 person years during FY2005. Surveillance consultations concluded 129 countries during FY2005, of which 118 voluntarily published information on their consultation. 1. 3 Functions The IMF works to foster global growth and economic stability. It provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty. The rationale for this is that private international capital markets function imperfectly and many countries have limited access to financial markets. Such market imperfections, together with balance of payments financing, provide the justification for official financing, without which many countries could only correct large external payment imbalances through measures with adverse effects on both national and international economic prosperity. The IMF can provide other sources of financing to countries in need that would not be available in the absence of an economic stabilization program supported by the Fund. Upon initial IMF formation, its two primary functions were: to oversee the fixed exchange rate arrangements between countries, thus helping national governments manage their exchange rates and allowing these governments to prioritise economic growth, and to provide short-term capital to aid balance-of-payments. This assistance was meant to prevent the spread of international economic crises. The Fund was also intended to help mend the pieces of the international economy post the Great Depression and World War II. The IMFs role was fundamentally altered after the floating exchange rates post 1971. It shifted to examining the economic policies of countries with IMF loan agreements to determine if a shortage of capital was due to economic fluctuations or economic policy. The IMF also researched what types of government policy would ensure economic recovery. The new challenge is to promote and implement policy that reduces the frequency of crises among the emerging market countries, especially the middle-income countries that are open to massive capital outflows. Rather than maintaining a position of oversight of only exchange rates, their function became one of â€Å"surveillance† of the overall macroeconomic performance of its member countries. Their role became a lot more active because the IMF now manages economic policy instead of just exchange rates. In addition, the IMF negotiates conditions on lending and loans under their policy of conditionality, which was established in the 1950s. Low-income countries can borrow on concessional terms, which means there is a period of time with no interest rates, through the Extended Credit Facility (ECF), the Standby Credit Facility (SCF) and the Rapid Credit Facility (RCF). Non concessional loans, which include interest rates, are provided mainly through Stand-By Arrangements (SBA), the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Extended Fund Facility. The IMF provides emergency assistance via the newly introduced Rapid Financing Instrument (RFI) to all its members facing urgent balance of payments needs. Surveillance of the global economy The IMF is mandated to oversee the international monetary and financial systemand monitor the economic and financial policies of its 188 member countries. This activity is known as surveillance and facilitates international co-operation. Since the demise of the Bretton Woods system of fixed exchange rates in the early 1970s, surveillance has evolved largely by way of changes in procedures rather than through the adoption of new obligations. The responsibilities of the Fund changed from those of guardian to those of overseer of members’ policies. The Fund typically analyses the appropriateness of each member country’s economic and financial policies for achieving orderly economic growth, and assesses the consequences of these policies for other countries and for the global economy. In 1995 the International Monetary Fund began work on data dissemination standards with the view of guiding IMF member countries to disseminate their economic and financial data to the public. The International Monetary and Financial Committee (IMFC) endorsed the guidelines for the dissemination standards and they were split into two tiers: The General Data Dissemination System (GDDS) and theSpecial Data Dissemination Standard (SDDS). The International Monetary Fund executive board approved the SDDS and GDDS in 1996 and 1997 respectively, and subsequent amendments were published in a revisedGuide to the General Data Dissemination System. The system is aimed primarily at statisticians and aims to improve many aspects of statistical systems in a country. It is also part of the World Bank Millennium Development Goals and Poverty Reduction Strategic Papers. The primary objective of the GDDS is to encourage IMF member countries to build a framework to improve data quality and increase statistical capacity building. Upon building a framework, a country can evaluate statistical needs, set priorities in improving the timeliness, transparency, reliability and accessibility of financial and economic data. Some countries initially used the GDDS, but later upgraded to SDDS. Some entities that are not themselves IMF members also contribute statistical data to the systems: Palestinian Authority – GDDS Hong Kong – SDDS Macao – GDDS[14] EU institutions: the European Central Bank for the Eurozone – SDDS Eurostat for the whole EU – SDDS, thus providing data from Cyprus (not using any DDSystem on its own) and Malta (using only GDDS on its own) Conditionality of loans IMF conditionality is a set of policies or conditions that the IMF requires in exchange for financial resources. The IMF does not require collateral from countries for loans but rather requires the government seeking assistance to correct its macroeconomic imbalances in the form of policy reform. If the conditions are not met, the funds are withheld. Conditionality is perhaps the most controversial aspect of IMF policies. The concept of conditionality was introduced in an Executive Board decision in 1952 and later incorporated in the Articles of Agreement. Conditionality is associated with economic theory as well as an enforcement mechanism for repayment. Stemming primarily from the work of Jacques Polak in the Funds research department, the theoretical underpinning of conditionality was the monetary approach to the balance of payments. Structural adjustment Some of the conditions for structural adjustment can include: Cutting expenditures, also known as austerity. Focusing economic output on direct export and resource extraction, Devaluation of currencies, Trade liberalisation, or lifting import and export restrictions, Increasing the stability of investment (by supplementing foreign direct investment with the opening of domestic stock markets), Balancing budgets and not overspending, Removing price controls and state subsidies, Privatization, or divestiture of all or part of state-owned enterprises, Enhancing the rights of foreign investors vis-a-vis national laws, Improving governance and fighting corruption. These conditions have also been sometimes labelled as the Washington Consensus. Benefits These loan conditions ensure that the borrowing country will be able to repay the Fund and that the country wont attempt to solve their balance of payment problems in a way that would negatively impact the international economy. The incentive problem of moral hazard, which is the actions of economic agents maximising their own utility to the detriment of others when they do not bear the full consequences of their actions, is mitigated through conditions rather than providing collateral; countries in need of IMF loans do not generally possess internationally valuable collateral anyway. Conditionality also reassures the IMF that the funds lent to them will be used for the purposes defined by the Articles of Agreement and provides safeguards that country will be able to rectify its macroeconomic and structural imbalances. In the judgment of the Fund, the adoption by the member of certain corrective measures or policies will allow it to repay the Fund, thereby ensuring that the same resources will be available to support other members. As of 2004, borrowing countries have had a very good track record for repaying credit extended under the Funds regular lending facilities with full interest over the duration of the loan. This indicates that Fund lending does not impose a burden on creditor countries, as lending countries receive market-rate interest on most of their quota subscription, plus any of their own-currency subscriptions that are loaned out by the Fund, plus all of the reserve assets that they provide the Fund. Criticisms In some quarters, the IMF has been criticised for being out of touch with local economic conditions, cultures, and environments in the countries they are requiring policy reform. [6] The Fund knows very little about what public spending on programs like public health and education actually means, especially in African countries; they have no feel for the impact that their proposed national budget will have on people. The economic advice the IMF gives might not always take into consideration the difference between what spending means on paper and how it is felt by citizens. For example, some people believe that Jeffrey Sachs work shows that the Funds usual prescription is budgetary belt tightening to countries who are much too poor to own belts. It has been said that the IMFs role as a generalist institution specialising in macroeconomic issues needs reform. Conditionality has also been criticised because a country can pledge collateral of acceptable assets to obtain waivers on certain conditions. However, that assumes that all countries have the capability and choice to provide acceptable collateral. One view is that conditionality undermines domestic political institutions. The recipient governments are sacrificing policy autonomy in exchange for funds, which can lead to public resentment of the local leadership for accepting and enforcing the IMF conditions. Political instability can result from more leadership turnover as political leaders are replaced in electoral backlashes. IMF conditions are often criticised for their bias against economic growth and reduce government services, thus increasing unemployment. Another criticism is that IMF programs are only designed to address poor governance, excessive government spending, excessive government intervention in markets, and too much state ownership. This assumes that this narrow range of issues represents the only possible problems; everything is standardised and differing contexts are ignored. A country may also be compelled to accept conditions it would not normally accept had they not been in a financial crisis in need of assistance. It is claimed that conditionalities retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries. [20] The IMF sometimes advocates â€Å"austerity programmes,† cutting public spending and increasing taxes even when the economy is weak, to bring budgets closer to a balance, thus reducing budget deficits. Countries are often advised to lower their corporate tax rate. In Globalization and Its Discontents, Joseph E. Stiglitz, former chief economist and senior vice-president at the World Bank, criticises these policies. He argues that by converting to a more monetarist approach, the purpose of the fund is no longer valid, as it was designed to provide funds for countries to carry out Keynesian reflations, and that the IMF was not participating in a conspiracy, but it was reflecting the interests and ideology of the Western financial community. Reform The IMF is only one of many international organisations and it is a generalist institution for macroeconomic issues only; its core areas of concern in developing countries are very narrow. One proposed reform is a movement towards close partnership with other specialist agencies to better productivity. The IMF has little to no communication with other international organisations such as UN specialist agencies like UNICEF, the Food and Agriculture Organization (FAO), and the United Nations Development Program (UNDP). Jeffrey Sachs argues in The End of Poverty: international institutions like the International Monetary Fund (IMF) and the World Bank have the brightest economists and the lead in advising poor countries on how to break out of poverty, but the problem is development economics. Development economics needs the reform, not the IMF. He also notes that IMF loan conditions need to be partnered with other reforms such as trade reform in developed nations, debt cancellation, and increased financial assistance for investments in basic infrastructure to be effective. IMF loan conditions cannot stand alone and produce change; they need to be partnered with other reforms or other conditions as applicable. 1. 4 Reasons for Founding the IMF In an American town called Bretton Woods in New Hampshire, representatives of 45 western countries, led by the US and UK, and not including the Soviet Union and communist bloc countries, agreed to establish a global economic institution. Of these, 29 countries signed the Articles of Agreement that included the following objectives: Eliminate any disastrous repetitions of the Great Depression. Facilitate global financial stability by stabilizing prevailing exchange rates. Reduce poverty so that economic growth is triggered. Increase international trade and employment. 1. 5 Responsibilities of IMF:- Article 1 sets out main responsibilities of IMF which are as follows, 1) Promoting international monetary cooperation. 2) Facilitating the expansion and balanced growth of international trade. 3) Promoting exchange stability. 4) Assisting in the establishment of a multilateral system of payments and 5) Making its resources available (under adequate safeguards) to members experiencing balance of payments difficulties. Generally, the IMF is responsible for ensuring the stability of the international monetary and financial system the system of international payments and exchange rates among national currencies that enables trade to take place between countries. The Fund seeks to promote economic stability and prevent crises; to help resolve crises when they do occur; and to promote growth and alleviate poverty. 1. 6 How the IMF Works The main functions of IMF can be divided into three categories: 1. Surveillance: This involves collaboration between the IMF and its member nations. The IMF continues to assess the economic conditions of its members and offers in-depth advice to help them formulate sound economic policies. 2. Lending: Financial aid is provided to member countries who are struggling with balance of payment problems. Through Exogenous Shocks Facility (ESF) and the Poverty Reduction and Growth Facility (PRGF), the IMF helps its members and even collaborates with the World Bank to lend money to them. 3. Technical Assistance: The IMF offers technical assistance in areas such as banking, fiscal and economic policies as well as exchange rate policies. It also helps its member nations to fight threats such as terrorism and money-laundering. 1. 7 Achievements and Challenges of the IMF It would take an entire book to cover all the achievements of the IMF but here are some that are worth recollecting: The IMF triggered Poland’s economic transition. The transition included institution building, liberalization, and macro-economic management. Initiatives by the IMF initiatives triggered economic growth, liberalized prices and the spread of democratic institutions in countries like the Czech Republic, the Slovak Republic the Baltics and Hungary. In 2008, the Asia Pacific region made considerable progress in addressing downside risks to economic growth. Gaining sufficient political muscle to grapple with issues that affect economic prosperity, offering speedy solutions to crises and ensuring economic transition for developing nations are some of the challenges ahead for the IMF. Critics of the IMF say that its policies often make economic crises worse because of the severity of some of the austerity measures it imposes. As the global lender of last resort, sovereign nations will normally try to find any other means they can of solving their own problems before turning to the IMF. Whichever way you look at it, with the growing risks in the global financial system, the Fund is going to be busy in the coming years, and will continue its supporting role to help countries stabilize their commodity and oil prices, pursue expansionary policies and reduce inflation. IMF Activities Highlights: The IMF works to promote global growth and economic stability and there by prevent economic crisis by encouraging countries to adopt sound economic policies. Act of being vigilant is the regular dialogue and policy advice that the IMF offers to each of its members. Generally once a year, the Fund conducts in-depth appraisals of each member countrys economic situation. It discusses with the countrys authorities the policies that are most conducive to stable exchange rates and a growing and prosperous economy. Members have the option to publish the Funds assessment, and the overwhelming majority of countries opt for transparency, making extensive information on bilateral surveillance available to the public. The IMF also combines information from individual consultations to form assessments of global and regional developments and prospects. These views on the IMFs multilateral surveillance are published twice each year in the world economic outlook and the global financial stability report. Technical assistance and training are offered mostly free of charge to help member countries strengthen their capacity to design and implement effective policies. Technical assistance is offered in several areas, including fiscal policy, monetary and exchange rate policies, banking and financial system supervision and regulation, and statistics. CHAPTER 2: INDIA’S ENTRY IN IMF India became member of IMF in 27th December 1945, as one of the IMFs original members.. India is permanent member of IMF. India became a creditor to the International Monetary Fund in May 2003 on the basis of its strong balance of payments and foreign exchange reserves position. India contributed $498 million to the IMFs Financial Transaction Plan, thus turning from a debtor into a lender to the IMF. It made a contribution of $498 million to the International Monetary Fund. The Reserve Bank of Indias latest figures say that Indias official reserve assets with the IMF had risen to $1,312 million till January 2004. The IMF Resident Office in New Delhi was opened in 1991. The primary function of the office is to facilitate the flow of information between the Government of India, the Reserve Bank of India, and the IMF. The current resident representative of the IMF in India is Michael Wattleworth. The office also employs Poonam Gupta, an economist on leave from IMF headquarters and Sudip Mohapatra as Economist. Alex Jaini has been the Administrative Officer since the office was opened. Raghuram G Rajan, Professor of Finance at the Graduate School of Business, University of Chicago, is the first person of Indian origin chosen by the International Monetary Fund as its chief economist. At 40, he is not only the youngest individual to hold this position, but also the first from a developing nation. Co-author of the book Saving Capitalism from the Capitalists, (Crown Business, New York, 2003), Rajan has sought to steer clear of the ideological position espoused by the extreme-right Chicago school of economists. He is a firm believer in the virtues of a free market system. He is an electrical engineering graduate from the Indian Institute of Technology, Delhi and also holds an MBA from the Indian Institute of Management, Ahmedabad. B (Bobby) P Mishra, additional secretary in the finance ministry, is India Executive Director to the International Monetary Fund. Bobby Mishra, who handled the Fund Bank and external finance division in the Department of Economic Affairs, succeeded Yaga V Reddy at the IMF, who returned after just a few months into his tenure to take over as the Reserve Bank of India Governor. Prior to Y V Reddy, Vijay Kelkar, was assigned to the IMF. Financial Assistance While India has not been a frequent user of IMF resources, IMF credit has been instrumental in helping India respond to emerging balance of payments problems on two occasions. In 1981-82, India borrowed SDR 3. 9 billion under an Extended Fund Facility, the largest arrangement in IMF history at the time. In 1991-93, India borrowed a total of SDR 2. 2 billion under two stand by arrangements, and in 1991 it borrowed SDR 1. 4 billion under the Compensatory Financing Facility. Technical Assistance In recent years, the Fund has provided India with technical assistance in a number of areas, including the development of the government securities market, foreign exchange market reform, public expenditure management, tax and customs administration, and strengthening statistical systems in connection with the Special Data Dissemination Standards. Since 1981 the IMF Institute has provided training to Indian officials in national accounts, tax administration, balance of payments compilation, monetary policy, and other areas. CHAPTER 3: IMF’S ROLE IN INDIAN ECONOMY 3. 1 Benefits of becoming IMF member: IMF has played an importance role in Indian economy. IMF had provided economic assistance from time to time to India and has also provided appropriate consultancy in determination of various policies in the country. India is the founder member of IMF. It played a significant role in the formulation of Fund Policies. The Finance Minister is ex-officio Governor in IMF Board of Governors. Till 1970, India was among the first five nations having the highest quota with IMF and due to this status India was allotted a permanent place in Executive Board of Directors. India has taken loans in foreign currencies from IMF or improving its balance of payments imbalances. India has also taken technical consultancy for solving its internal economic problems. The expert groups of the IMF have visited India on various occasions. In addition to this India also got the following benefits of becoming the IMF members: 1. Independence of the Indian Rupee: Before the establishment of the IMF, the Indian rupee was linked with the British Pound Sterling. But Indian rupee has become independent after the establishment of IMF. Its value is expressed in terms of gold. It is not determined by the Pound Sterling. It means that Indian rupee is easily convertible into the currency of any other country. 2. Membership of the World Bank: India has become a member of the World Bank also by virtue of its membership of the Fund. As a result, India got several loan facilities from the World Bank for the development purposes. 3. Availability of Foreign Currencies: The Government of India has been purchasing foreign currencies from the Fund from time to time to meet the requirements of development activities. The large amount of availability of foreign currencies has greatly promoted the economic development of the country. 4. Reputation in International Circle: India is one of those six countries which have occupied a special place in the Board of Directors of the Fund. Thus, India had played a creditable role in determining the policies of the Fund. This has increased India’s prestige in the international circles. India takes keen interest in the formulation of Fund’s policies. 5. Guidance and Advice: Being member of the Fund, India got the expert opinion from the Fund for solving its economic problems. The attitude of the Fund towards India has always remained sympathetic. The Fund has given valuable advice to the Government of India with regard to the financing of the Five-Year Plans. 6. Timely Help: India has received timely help from the Fund to eliminate the deficit on its balance of payments. The Fund granted loans to meet the financial difficult is arising out of the Indo-Pak conflict of 1965 and 1971. Thus, the fund has given timely help to solve economic crisis. 7. Freedom from Sterling: Indian rupee was convertible into other currencies through the medium of sterling before becoming the member of the fund. With the fixation of paper value of the rupee in gold, Indian currency is now freely convertible into any other currency. 8. Sale and Purchase of Foreign Exchange: Fund has entrusted the sale and purchase of foreign exchange worth more than Rs. 2 lakh to Reserve Bank of India. The latter cannot enter into any transaction of foreign exchange that is of the value of less than Rs. 2 lakh. 9. Economic Consultation: In the financial management of Five- Year Plans, IMF has given valuable advice to Government of India and to suggest measures for its economic development. 10. Help during Emergency: India got a large amount of financial assistance from the Fund to solve its economic crisis arising due to natural calamities like flood, earthquakes, famines etc. 3. 2 Economic liberalization in India By 1985, India had started having balance of payments problems. By the end of 1990, it was in a serious economic crisis. The government was close to default, its central bank had refused new credit and foreign exchange reserves had been reduced to such a point that India could barely finance three weeks’ worth of imports which resulted India to airlift its gold reserves as a pledge with the International Monetary Fund (IMF) for a loan. Causes and consequences The crisis was caused by currency overvaluation; the current account deficit, and investor confidence played significant role in the sharp exchange rate depreciation. The economic crisis was primarily due to the large and growing fiscal imbalances over the 1980s. During the mid-eighties, India started having balance of payments problems. Precipitated by the Gulf War, India’s oil import bill swelled, exports slumped, credit dried up, and investors took their money out. Large fiscal deficits, over time, had a spill over effect on the trade deficit culminating in an external payments crisis. By the end of 1990, India