Difference between Issues and Problems

Some business managers mistakenly use the term â€Å"issue† and â€Å"problem† interchangeably; however, doing so may complicate the daily decision making processes by lumping all issues and problems together and possibly make a bad situation worse. Separating issues from problems helps to prevent smaller issues from becoming problems. This business practice is so important that there is an entire management discipline predictably called, â€Å"issue management† (IM). The Dow Jones says that â€Å"successful issue management depends on addressing concerns before they become full blown problems. 1Therefore, it is deduced that issues are smaller, less threatening and require minimal effort to find resolution – but left unchecked could expose the organization to greater risk. There is an analogy to help put this concept into proper perspective – â€Å"forgetting your lunch is an issue, but losing your job is a problem. 2 Therefore, the difference between an Issue and a problem can be explained this way, â€Å"Problems are solved. Issues need to be resolved†¦. To solve is to explain and to resolve is to separate a thing into its component parts or elements, then determine a course of action. †

Trade, Money and Capital

B. TRADE, MONEY AND CAPITAL Features of a modern economy 1. – Specialization and division of labor 2. – Measure economic values 3. – Stock of capital * Trade, specialization and division of labor. * Specialization: occurs when people and countries concentrate their efforts on a particular set of tasks, it permits each person and country to use to best advantage the specific skills and resources that are available. * Division of labor: dividing production into a number of small-specialized steps or task. * Specialization and trade are the key to high living standards. * Globalization Globalization: is used to denote an increase in economic integration among nations. Increasing integration is seen today in the dramatic growth in the glows of goods, services, and finance across national borders. * Money: the lubricant of exchange * Money: is the means of payment in the form of currency and checks used to buy things. Lubricant that facilitates exchange. * Governments control the money supply through their center banks * Money is the medium of exchange.Proper management of the financial system is one of the major issues for government macroeconomic policy in the countries. Capital * Capital: a produced and durable input, which is itself an output of the economy. It consists of a vast and specialized array of machines, buildings, computers, software, and so on. * Capital has to be produced before you use it. * Growth from the sacrifice of current consumption * Economic activity involves forgoing current consumption to increase our capital. Every time we invest we are enhancing the future productivity of our economy and increasing future consumption. * Capital and private property In a market economy, capital typically is privately owned, and the income form capital goes to individuals. * Capital goods also have market values, and people can buy and sell the capital good for whatever price the goods will fetch. * The ability of individuals to own and profit from capital is what gives capitalism name. * While our society is one built on private property, property rights are limited (taxes and government) *Property rights for capital and pollution * Property rights define how individuals or firms can own, buy, sell, and use capital goods and other property. An efficient and acceptable legal framework for a market economy includes the definition of clear property rights, the laws of contracts, and system for adjudicating disputes. C. THE VISIBLE HAND OF GOVERNMENT. * All goods and services are voluntary exchange for money at competitive market prices that reflect consumer valuation and social costs. * No economy actually conforms totally to the idealized world of the smoothly functioning invisible hand. * Economic imperfections lead to such ills as pollution, unemployment, financial panics, and extremes of wealth and poverty. Governments operate by requiring people to pay taxes, obey regulations, and consume certain collective goods and services. * Government have 3 main economic functions in a market economy: * Increase efficiency (public goods) * Promote equity (taxes) *Foster macroeconomic stability and growth (economic growth) * Efficiency * Perfect competition: Refers to a market in which no firm or consumer is large enough to affect the market price. * Imperfect competition: When buyer or seller can affect a good’s prices. Leads to prices that rise above cost and to consumer purchases that are reduced below efficient levels. Monopolist: a singles supplier who alone determines the price of particular good or service. * Externalities * Externalities (or spillover effects) occur when firms or people impose costs or benefits on others outside the marketplace. * Government regulations are designed to control externalities like air and water pollution damage from strip mining, hazardous wastes, unsafe drugs and foods, and radioactive materials. * Public Goods * Public goods: are commodities, which can be enjoyed by everyone, and form, which no one can be excluded (national defense). * Taxes The government must find the revenues to pay for its public goods and for its income redistribution programs. *All levels of government collect taxes to pay for their spending. * Taxes are the price that we pay for public goods * They are involuntary. * Equity * Markets do not necessarily produce a fair distribution income. A market economy may produce inequalities in income and consumption that are no t acceptable to the electorate. * The reason is that incomes are determined by a wide variety of factors, including effort, education, inheritance, factor price, and luck. To reduce income inequality: * Engage in progressive taxation: taxing large incomes at a higher rate than small incomes. * Transfer payments: which are money payments to people. * Macroeconomic growth and stability * Thanks John Maynard Keynes we know how to control the worst excess of business cycle. By careful use of fis cal an monetary polices, governments can affect output, employment, and inflation *The fiscal polices of government involve the power to tax and the power to pend. * Monetary policy involves determining the supply of money and interest rates. Macroeconomics polices for stabilization and economic growth include fiscal polices along with monetary polices. * Mixed economy: in which the market determines output and prices in most individual sectors while government steers the overall economy with programs of taxation, spending, and monetary regulation. * The rise of the welfare state * Laissez-faire (leave us alone): holds that government should interfere as a little as possible in economic affairs and leave economic decisions to the private decision making of buyers and sellers. Welfare state: is one un which markets direct the detailed activities of day-to-day economic life while government regulates social conditions and provides pension, health care, and other necessities for poor f amilies. * The mixed economies. * The success of market economies may lead people to overlook the important contribution of collective actions. * The tools of economics are indispensable to help societies find the golden mean between an efficient market mechanism and publicly decide regulation and redistribution * The good mixed economy is perforce the limited mixed economy

Linking up with Talent at Osram Sylvania Case Study

Linking up with Talent at Osram Sylvania - Case Study Example 2. Social Networking Sites for Recruitment Recruitment by means of social networking sites is the latest trend in the professional employment procedure. There are many advantages related to this approach, especially in the instances when the employment has to be done from abroad. Rather than contacting the recruitment companies in those far-off regions, the online communities of interest that have a majority of members from the respective region can be joined and observed silently, for example, supply chain management communities can be joined that have been founded by Indians and have most members belonging to the South Asian land. Sial (2009) stated that the employers can act as silent observers in the prevailing discussions on the platform and identify the individuals that seem to have good experience in the field. Blogging also gives the employer an opportunity to evaluate the individual’s caliber. However, it is advisable to stick to the professional social networking sit es like LinkedIn that are focused on the professional aspects of the individuals. It proves to be a good medium for hiring competent professionals since some are not proactive in the job market and hence do not post their CVs at the job hunting sites.

Britain's Conservative Movement Essay Example | Topics and Well Written Essays - 2000 words

Britain's Conservative Movement - Essay Example Tories, such as Woolton and Churchill, captured this new worldview and offered the people of Britain a mixed economy based on pragmatism and built upon the progressive programs that labour had failed to deliver in the post war period. In 1945 the Conservative party faced a British electorate that perceived them as elitist and the party of the wealthy, which resulted in a disappointing loss at the polls in 1945. The Labour Manifesto of 1951 stated that, "The Tories are against a more equal society. They stand, as they have always stood, for privilege. In parliament they proposed cuts in taxation on large incomes and fought the profits tax" (Dale 1999, p.78). During this period, Conservatives sought to widen the appeal of the party. According to Lynch (1999, p.22), "Conservative claim to be the patriotic party had lost resonance given their association with the pre-war depression, the emergence of a popular patriotic discourse on the Left and a new period of consensus politics". This disconnection with the voting public would hamper the Conservative efforts during the next five years as they restructured the party, both philosophically and pragmatically. During the period of 1951-1964, the Conservative party was able to reap the rewards of the British public seeking to maintain a coherent national identity. David Hume and Henry Bolingbroke had written, in the 18th century, about the character of the British and that image endured for two hundred years of multi-national imperialism (Lynch 1999, p.3-20). However, by 1950 this image had weakened due to de-colonization, decentralization, and the growing integration of Europe. The empire and the monarchy no longer served as models for the British identity. Lynch (1999, p.21) contends that "a renewal of substate nationalism, immigration from the New Commonwealth and a Keynesian welfare state political settlement in which the Conservatives had lost their distinctive patriotic voice and had not developed a coherent post-imperial idea of Britishness". This loss of a national identity created an environment where the Conservatives could build a new identity in the image of the new Social Cons ervatism. This would further hold voters in the Conservative camp as they identified the party with the nationalism and patriotism of nationhood. This required conservative platforms to appeal to left wing social ideals, while supporting right wing capitalistic economic freedoms. The issues of decentralization, housing, health, and education became the property of the Conservative party, and by 1949 Churchill would assert that the Conservative party was a "broad, tolerant, progressive and hopeful prospect to the British people" and had become "..an overwhelming repudiation of the taint that we are a class party seeking to defend abuses or willing to tolerate the exploitation of the mass of people by vested interests, by monopolies or by bygone ideas" (as cited in James 1974, p.7863). The Conservative's rebranding as a socially progressive party shed the perception of an economically exclusive organization and helped attract many former labour supporters. Conservative policy following the Second World War was built upon the philosophy of the social reform policies of former Conservatives such as, "Thomas Carlyle, the Earl of Shaftesbury, William Wilberforce, and

Why NYU Essay Example | Topics and Well Written Essays - 750 words

Why NYU - Essay Example New York University is the perfect place for students like me who are interested in an effervescent culture and diversity. The heart of NYU is its Washington Square campus, which is the center of Greenwich Village. The Village is a historic neighborhood that is composed of imaginative and energetic communities. NYU, without walls and gates, demonstrates its deep interconnection with New York City and gets inspiration from the latter’s vivacity. It has attracted generations of writers, musicians, artists, and intellectuals, which I want to interact with when studying in the University. I want to live at the center of the country’s culture and the arts, which makes NYU an appealing educational prospect for me. Furthermore, I love that NYU is a diverse school with autonomous departments. I can see myself interacting with people from other races and ethnicities and learning more about their cultures and personalities in the process. As a foreign student, I find myself at ea se in a diverse community. NYU is the ideal learning institution because of its outstanding faculty and research facilities. I am significantly partial to schools dedicated to excellence and professionalism. When I watch TV or read the news, its professors and researchers are often interviewed and their opinions are considered as reputable. Many business and social documentaries come from NYU and its faculty members. In addition, NYU teachers publish in peer-reviewed journals. This improves their credibility as sources of expert knowledge and skills. I seek to learn in a challenging academic environment, and I believe that NYU offers these cognitive challenges through its exceptional faculty, who will help develop the quality of my thinking as a business student. Finally, I want to study at NYU because it promotes a collaborative learning environment. I believe that to be successful in business, I must possess strong interaction, communication, and teamwork skills, which NYU will

Report Research Paper Example | Topics and Well Written Essays - 500 words

Report - Research Paper Example For this reason, one should start with writing a draft, which helps one to identify the mistakes – both stylistic and grammatical, the flow as well as check for any information omitted (Bowden, 2004). One should follow an outline to ensure all information that is supposed to be in the report is included. Moreover, one should find out, for instance asking from the supervisor what is expected and if there is a standard format to be followed. If there are any sample reports available, it is advisable to go through them and if applicable utilize them as a model for the report to be written. Another way to write a concise and complete report is to take time to choose what information will be put into the report i.e. how brief or detailed it should be. When compiling and writing the report, the researcher ought to keep in mind the nature of the audience. The report should start with a clear, brief proclamation of the research aspirations and later, an explanation of the research pla n. A summary of major findings should come next. The report should end with a presentation of the recommendations and conclusions and any available exhibits appended. Finally, it is important to note that, report writing, like any skill, improves with practice. The use of computers can significantly facilitate report compiling and writing (Mooi & Sarstedt, 2011). The market research issue covered in the call center report is determine how long the customers have to wait to access customer service of various companies through a phone call (Collier, 2009). The major market research issues and outcomes are well outlined - how long different companies take to answer the call, whether it is an automated message or a person and overall quality of the customer service. The language used is objective, factual and user-friendly comparing and rating the companies depending on the findings. The research design and processes are adequately reported and the

Should English be the Official Language Term Paper

Should English be the Official Language - Term Paper Example The politicians have always avoided the issue and there has always been a silent agreement that English is the official language. Nevertheless, during the history, there have been a few moments where the debate gained significant attention and discussion. For example, it was in the year 1907 when President Roosevelt wrote, â€Å"We have room for but one language in this country, and that is the English language, for we intend to see that the crucible turns our people out as Americans, of American nationality, and not as dwellers in a polyglot boarding house† (Garcia, 2005). Furthermore, during the First World War, as an attempt to sideline the German language, along with removing the books in the German language from the libraries, people were feeling the need of one common language. However, over the past few years, this debate has gained momentum and experts fear that the issue of national language that is alien to the culture of the United States may tear the country apart, as it has done in many other nations in the world (Simpson, 2009). As of 2010, thirty states had adopted English as the official language with laws protecting the same. It is interesting here to note the struggle in the state of Arizona where English recently became the only official language with full force. ...   Nevertheless, in the year 2005, another bill regarding making English as the official language was passed by the legislature but the Governor vetoed it. Finally, it was during the fall of 2010 when the struggle of the campaigners in Arizona bore fruit and English once again became the only official language of the state. A national language is very much like a national flag or a national anthem whose sole purpose is to protect the identity of the nation. Furthermore, the national language is symbolic of the nation and their culture and considering the diverse cultures in the United States, English as the official language will allow these diverse people to develop a sense of identity and association with their culture and country through the language (Cummins, 2000). Important here to note is that by making English as the national language, the country will save billions, if not trillions, every year from the money spent in the educational system. The governments spend a huge sum of money in order to improve the reading and speaking skills of students who are non-native speakers. In fact, for many years, this has remained a weak spot of our educational system. Making English as the official language will help the governments save the money spent on reading bills, translations and teaching more than one languages at schools (Simpson, 2009). Opponents of the current stance believe that by making English as the official language, one would suppress the other languages and the native languages of the immigrants thus making them lose the part of their culture. However, the same is not true.

Seoul City Essay Example | Topics and Well Written Essays - 500 words

Seoul City - Essay Example Ostensibly, the Korean people learned how a conflict can paralyze the economy of a country. The term is a representation of rapid industrialization, urbanization, economic boom, education boom, technological advancement, skyscraper boom, a rise in living standards and modernization. This culminated in the successful hosting of the 1988 Summer Olympics Championship. Additionally, Seoul City co-hosted the 2002- FIFA World Cup. Consequently, the country transformed from the near destruction of the Korea War into globalization and democratization. The city is celebrated as wealthy, developed with sound economic viability and exerting a global economic influence (The Korean Economy - the Miracle on the Hangang River). Currently, it boasts of prominent multinational companies such as Samsung, Hyundai-Kia, and LG. More specifically, the term refers to the economic growth of Seoul city through which River Han flows. It is fascinating to note that it is termed a ‘miracle’ as it r epresents the economic rebirth of the country between the periods 1961 to 1996. Initially, the country was crippled by the Korean War that saw an escalation of poverty levels and unemployment rates. Interestingly, in less than four years, Seoul became a global city, a highly developed economic hub, center of business and commerce. It opened grounds for technological advancement and the development of communication infrastructure. Currently, the inhabitants consider the opulence as national pride as well as a symbol of self-sufficiency.

Edit the paper for the final draft submission Essay

Edit the paper for the final draft submission - Essay Example According to Aristotle, happiness is the highest good that a man can obtain and is achieved by action (Ostwald 59). Aristotle agrees that there are many good things apart from happiness. What makes happiness stand out as the highest good is that it is pursued for its own sake. It is itself an end given that it is sufficient and cannot be utilized beyond itself. For example, you cannot seek happiness so that you get a job. Other good things are pursed for the sake of other things or as a means of obtaining something else. For example, pursuing a job so as to be economically stable or get a nice social class. Hence this job must be utilized so as to obtain the economic stability desired. Aristotle’s theory is based on the reason that each man is aiming at some end. It is this desire that initiates every of their actions. Therefore, living an active virtuous life is the only way to get closer to this desired end. However, these actions are not the ones that will bring happiness. They are just a means of striving towards it. According to him, happiness is some good in which ethical life is centered around hence no one action brings happiness as it also differs for each person. For example, for a poor man, their view of happiness is in riches. As for the rich or when the poor man becomes rich, the focus shifts to honor or power. Therefore, the circle is viscous but finally reaches an end as noted by Ostwald (259). Aristotle differentiates happiness and pleasure. A pleasurable life cannot be equated to a happy life. This is because happiness is acquired by virtuous acts. To support this, he argues that human beings are rational compared to animals hence they can differentiate between pleasure and happiness. In other words, Aristotle argues that happiness is achieved by acting out of virtue. One’s moral actions should lie between the two moral extremes. Men are also supposed to seek truth through contemplation and philosophy. They can