Comparison of Two Organisation Essay Example | Topics and Well Written Essays - 3000 words

Comparison of Two Organisation - Essay Example The best fit organisational structure depends on many factors such as organisational goals, industry structure, and number of employees, employee maturity, type of product and service, customer expectations, geographical scope and so on. However, in order to understand the organisational structures and designs of Biogenta plc and Outback Inc., two generic forms of organisational structures and designs would be sufficient. There are mechanistic and organic organisational structures. Biogenta represents the latter whereas Outback is just the right example of the former (Cameron and Quinn, 2011, pp. 52-53). Mechanistic organisations have a rigid and tightly controlled structure. Mechanistic structures are characterised with a high degree of specialisation, inflexible departmentalisation, and narrow span of control, a significantly high degree of formalisation, centralisation and strong and unchallengeable chain of command. Mechanistic organisations such as Outback Inc. tend to rely on p rudent rules and regulations to control the behaviour of all the members (Cameron and Quinn, 2011, pp. 52-53). As mentioned earlier that mechanistic structures are not â€Å"appalling† or â€Å"unfit† within themselves. In fact, organisations which are operating within stable, calculated and predictable environment should go for mechanistic organisational structures since it helps them to maximise their control. Many governmental organisations and large corporations, especially until a few decades back, show characteristics of mechanistic structures. When the political, social, legal, environmental, economic, cultural and technological forces along with the industry’s competitive... This essay stresses that Outback Inc should move towards a more organic organisational structure by decentralising, widening the span of control, cutting down the hierarchical levels, reducing the impact of departments, creating more and more cross functional and hierarchical teams and decreasing formalisation. †¢ Outback should also create mechanisms to gradually and steadily change its organisational culture from a power culture to a more democratic and constructive culture where employees feel more empowered to share their ideas and thoughts. Outback could learn from the experience and strategies of Biogenta in terms of creating cross departmental and cross hierarchical teams since the same would bring employees together and foster communication. All work and no play have been making the employees of Outback dull and lethargic. The company should create mechanisms to produce adventure for its employees as well as it does for its customers. This report makes a conclusion that Biogenta knows how to use the variables and dynamics of organisational behaviour in its own favour and maximise the productivity of the organisation. On the other hand, Outback has been very slow in responding to the signals and alarms and time has come that it should initiate some major changes. Following are a few recommendations in this regard. The paper provides some recommendations based on the analysis and discussion.

EQUITY AND TRUSTS Essay Example | Topics and Well Written Essays - 2000 words

EQUITY AND TRUSTS - Essay Example The courts, therefore, assigns the property to someone in a resulting trust to avoid vacuum. Megarry VC in Re Sick and Funeral Society of St Johns Sunday school,1 Golcar defined a resulting trust as a property concept which follows that any property that an individual does not properly dispose of remains his. A completely constituted trust implies that the trust property is conferred to the trustees and the trust is binding on the donor who cannot revoke the trust. When the trust property is not properly vested the trust is considered incompletely constituted and it is void as equity will not force the donor to complete the trust. 2 The principles of constitution of trusts are derived from the case of Milroy v Lord3 where Turner L.J. set out three modes of making a gift, which are the actual transfer of property from the person making the gift to the beneficiary, a transfer of the intended gift to the trustees to be held in trust for the beneficiaries or the self-declaration of a trust. The principle in this case is that a gift can only be enforced in equity if it satisfies one of the three modes set out in Milroy. The rationale in this case is that trusts should not be used to protect gifts from being defeated and follows the maxim that equity will not complete an imperfect gift.4 The common rule with regard to imperfect gifts is that equity cannot perfect an imperfect gift and this was demonstrated in Milroy v Lord, where the court held that equity will not assist a volunteer, and as such, equity will not perfect an imperfect gift. In this case Mr. Medley made a deed purporting to transfer shares into Ds title to be held in trust. However the transfer was never made and when Medley died it was held that no valid trust existed and the shares we to go to Medleys estate and not the trust. Where there is lack of

Ethical Dilemma Essay Example | Topics and Well Written Essays - 250 words - 10

Ethical Dilemma - Essay Example As a result of such actions, I am forced to deal with the outcomes of someone else’s decision leading to a threat of a damaged reputation of a plant or even a criminal responsibility. Having found myself in such a situation, I would definitely inform management regarding the issue. I would do this for two reasons. First of all, because making a decision to bury the information once again would mean supporting a tendency of lying at a workplace. Second of all, because not revealing the truth might negatively affect my own career and put in danger employees working under inappropriate conditions, which might negatively affect their health. Thus, I would inform the management team about my finding, and negotiate with them the best possible way out of the situation. Thus, I would inform the remaining employees about the problem and then set an obligatory rule to wear hearing protection at work. Apart from it, I will gather all six workers and Frank and ask them to write an officia l explanation of the situation. As a result, the gap in an operating charter will be filled in order to avoid similar situations in the future. Although such a decision might negativly affect the reputation of Frank, the truth needs to be revealed for a sake of employee's well-being and enterprise's security not even mentioning that such a decision is the only possible one I can make if I want to be honest and dedicated to my work. Frank has made a mistake that affected other people as well, and it is fair to call him to account.

Interoperability Essay Example for Free

Interoperability Essay Interoperability has been described as the extent in which systems and devices can exchange data and translate that shared information. It is the ability of one system to perform work in addition with other systems without asking for too much hard work from the other users. This system enhances the importance for information technology to make the networks and integrations work. In order for the process to function properly the two systems that are attempting to share information must be able to exchange data and introduce that same information to other users in a way that he or she can understand it. There are many organizations in the business world and many have different operating systems. The importance of interoperability in this aspect is to allow each organization to share important information amongst one another. An example would be if an organization such as Child Protective Services (CPS) wanted to share client information with another Protective Services agency regarding a client both organizations should be able to exchange and translate information amongst coordinating organizations. Child Protective Services Child Protective Services (CPS) is known as major department with the Department of Human Services. CPS supports and maintains the social and economic welfare of children by offering services to children to help protect them from abuse and/or child neglect. The Department of Humans Services in California offers CPS to families. CPS serves as mandated reports as well as an organization to protect children from neglect or abuse within the home, from his or her family, foster home or anyone responsible for the care of the child. The services of CPS are to provide protection to the children, provide resources to enable to child to remain residing in the home under safe and harmless circumstances. Also to remove abused or neglected children from the home and to possibly terminate any parental or guardian rights to ensure that the child will be eliminated from any potential danger or harm. The basic constituent of the process include: providing any and all services to minimize potential harm to children and provide resources to families to help them protect and provide appropriate care to his or her child. Next, is to provide the best services possible to meet each child and families unique needs. Last, taking each allegation  made seriously and assessing the allegations to the best of one’s ability to ensure that if there is any form of abuse or neglect the necessary steps occur in order to protect the child. The services of CPS are to intervene if necessary and protect children until his or her parent is capable to doing so. The most essential aspect of CPS is to recognize the protection of children and to ensure that reasonable efforts are made to maintain children safely in their own home, to reunite the family as soon as the courts see fit or to find permanency for the child if the situation permits for the parental rights to be voided. Other services inc lude mental health, counseling, parenting skills training, medical care/services and adoption services. Methods of Interoperability There are several different methods to implement interoperability. Many organizations have created their own interoperability methods. One of the methods of interoperability is technical interoperability, which is the ability for different technologies to communicate and exchange data-based upon well-defined interface standards. The second is semantic interoperability, which is the ability to each endpoint to communicate data and have the receiving party understand the message in the sense intended by the sending party. The third is policy interoperability, which is the common business policies and processes related to the transmission, receipt and acceptance of data between systems, which a legal framework supports. Advantages and Disadvantages Conclusion Interoperability has been described as the extent in which systems and devices can exchange data and translate that shared information. Interoperability has many advantages and disadvantages. The goal of CPS is to find avenues to execute full backups bi-weekly and this process will be complemented daily. This organization will also implement an extended back up program monthly.

Sichuan Province Earthquake Effects On Tourism Tourism Essay

Sichuan Province Earthquake Effects On Tourism Tourism Essay Sichuan province is located in the Sichuans plateau in the inland of Southwest China; it is commonly referred to as the land of abundance. It has an enormous territory and rich in resources and is one of the most ethnically diverse areas in China. This province has several historic and cultural sites and other natural and manmade tourist attraction sites. The attraction sites and the famous Sichuan cuisine normally characterized by hot flavor, and incomparable beauty make the province a wonderland that attracts millions of tourists from all over the world. Sichuan is also a major industrial region in China; the province has both heavy and light industries. Plans were underway of developing this region into a high tech industrial centre. A massive earthquake, the famous Wenchuan Earthquake with a magnitude of 8.0 on the Richter scale, hit western Sichuan, China in 2008. According to official figures, released 65,185 people were confirmed dead. Over 68,636 of them were from Sichuan province, approximately 374,171 of others were reported injured and scores of others missing. Millions of people were left homeless and a lot of private and public property destroyed, the economic loss incurred was approximated to be over  ¥ 1,000 billion. The earthquake extremely affected all economic sectors in the quake-hit areas and tourism was no exception. Study of the impacts of the quake on tourism enhances the hypothesis of tourism and more significantly serving as the basis for planning and policymaking. Problem statement The earthquake is believed to have killed 54 tourists in Sichuan province. During the period, over ten thousand tourists were stranded and over 30 flights and 300 vehicles used to evacuate them. The tourist industry lost over $ 7.24 billion in the earthquake. With regard to the contribution of tourism to the regions economy, there have been major reconstruction efforts after the earthquake. Destructive catastrophes, such as the Boxing Day tsunami in the Indian Ocean (2004), Hurricane Katrina (2005), the Wenchuan Earthquake (2008), the Samoan tsunami (2009), and the Haiti earthquake (2010) have lately put the limelight on natural disasters, with real time TV footage screening the events as they unfold. International media issue warnings to tourists to stay away, while local economies experience immediate and widespread impacts from the loss of tourism earnings, and endure many months of uncertainty before a return to anything resembling normal business operation. Tourism destinations are highly sensitive to interruption by natural disasters because tourism operations are reliant on functioning critical infrastructure, including electricity, sewage, communications and water; lifelines which are inevitably damaged and disrupted for a prolonged period following a damaging event (Ritchie 2009). Flow-on effects from disasters also include significant disruption to the supply and distribution chains of even the most prepared businesses (Lee Harrald 1999). Economic losses are attributable to a decline in damage to infrastructure (Laws et al. 2007). The interdependencies of the tourism industry have been one of its great strengths, allowing it to rapidly expand and diversify. However, natural disasters can produce immediate, cascading failures within the tourism sector that have the ability to reverberate within communities and countries for many months and years. This study highlights physical and social impacts of large magnitude earthquakes. According to Sichuans local media, reconstruction in the Sichuan tourism sector has been separated into three levels. The initial stage was trying to attract the domestic tourists to the quake hit areas, followed by focusing on local tourism enterprises to restore global tourism market. Finally reviving the entire tourism sector by or after the year 2010 and make it the leading sector in the region. This earthquake affected the potential tourists perceptions on the Sichuan tourism many still feel that the destination is not safe enough to visit. The Sichuans tourism agency has to spend a considerable budget to convince the potential tourists that the place is safe to travel and that the attractions are still as appealing as they were before the quake. Objectives of the Research Study The main objective of this study is to investigate the potential tourists perceptions towards the Sichuan tourism after the earthquake. This study has not been carried out there giving rise to the knowledge gap that needs to be filled. The findings from this research will fill this knowledge gap and add to the current literature. Findings from this study will also be very significant in identifying the determinants that can be changed to design the best strategies in order to attract more tourists and satisfy their needs. The Sichuan tourism industry is expected to improve services and develop strategies to attract potential tourists and make them feel comfortable in Sichuan. Specifically the objective of this study is to help understand the potential tourists perception towards the post-earthquake Sichuan tourism, and determine what factors are considered significant by the potential tourists wanting to travel to Sichuan. Conceptual framework Scott, N. Laws, E. (2005). Tourism crises and disasters: Enhancing understanding of system effects. Journal of Travel Tourism Marketing, vol. 19, (3), pp. 151-160. The conceptual framework above articulates a set of complete values for disaster management strategies, to the benefit of tourism businesses and destination bureaus. This model follows a linear crisis procedure that is pre-event, emergency, intermediate, recovery and resolution. It goes further to provide insights for successfully assisting the tourism industry and the government in putting up disaster management strategies. Strategic implementation comprise of disaster communication and control, stakeholder collaboration and resource management. The tourism industry should learn from experiences such as the Sichuan earthquake. The work of emergency organizations as well as tourism organizations become very crucial, while that of tourism enterprises is usually less critical during pre- or post crisis periods. LITERATURE REVIEW 2.1. Historical background of problem area Tourism in the area accounted for 8% of county gross domestic product prior to the earthquake (Lim, 2009). The earthquake cost Sichuan province US$7 billion in lost tourism revenue (Zhiling Xianyu 2009). In contrast to the consequences of the Chi-Chi earthquake, tourism to the area rebounded in less than a year as domestic visitors flocked to see areas devastated by the quake (Lim, 2009). Government investment in the tourism industry in the region hopes to cash-in on the earthquake tourism phenomenon, with work currently taking place on the construction of a number of earthquake museums in the province, and a quake-relief training centre in Beichuan (Zhiling Xianyu 2008; Lim 2009). Local officials hope to increase tourism earnings to as much as 20% of regional GDP. One local Beichuan man describes his feelings about the earthquake; the earthquake was a catastrophe, but it will be good for the tourist industry (Lim 2009). The travel motivations of domestic Chinese tourists include o bserving the power of nature, to pay their respects to the dead, and to be reminded of the frailty of life (Liu 2009). According to various online news reports, as many as 19 million tourists visited Sichuan province during the National Day celebrations this year (Global Times 2009). The business of earthquake tourism, it seems, is booming in devastated parts of the epicentral region. Tourism disaster management Tourism is a deliberate and peacetime activity, is very susceptible to disparities caused by external environments that may compromise the tourist experience (Santana, 2003). Given that perception is reality in the tourism industry, a negative image results from a catastrophe of any kind, even if inexcusable, and will hinder potential tourists and lead to negative buying behavior. Globalization exposes the tourism industry to greater political, economic, social, and technological changes (Ritchie, 2004). Meanwhile, the butterfly effect further magnifies small-scale crises in one part of the world to other parts. Examples can be found among previous events, regardless of type, such as the Wenchuan Earthquake with a magnitude of 8.0 on the Richter scale, hit western Sichuan, China in 2008, and the 2004 Indian Ocean tsunami (Santana, 2003). The negative impact of crises on the tourism industry is more significant among destinations that are highly reliant on tourism as their major sourc e of revenue. The world has become increasingly catastrophe prone (Coombs, 1999: Richardson, 1994) and all the economic sectors are on the edge of chaos, Fink argues (1986), Researchers have provided many definitions for crisis. Faulkner (2001) contended that crises are induced by internal factors, or actions or inactions of the organizations, whereas disasters are by external forces, comprising of natural phenomena. Stafford, Yu, and Armoo (2002) further classified external factors into physical, social, and human environment. According to them natural disasters like those that earthquakes and technological failures are affiliated with crises in the former situation, and confrontations, epidemics and war are allied with crises in the latter situation. Foreign visitors satisfaction Hartman developed a customer satisfaction concept in 1993 that consists of three constructs: the cognitive, affective, and systemic (Hartman, 1993). Customer satisfaction is defined by customers post-purchase assessment of service delivered and comparison of customers expectations and the actual service experience (Hunt 2007).This concept was further refined as the expectancy-disconfirmation paradigm by Oliver (2000), with four elements: pre-purchase expectations, perceived performance, disconfirmation and satisfaction. Several approaches to performance analysis in tourism satisfaction such as expectation-performance, importance-performance, disconfirmation approach, and performance-only approach have been used. In terms of travel, Moutinho (1997) notes that this post-purchase construct is primarily a function of pre-travel expectations and travel experiences. Similarly, Pizam, Neumann, and Reichel (1998) define tourist satisfaction as the results of the comparison between a tourists experience at the destination visited and the expectations about the destination. Tourism researches have been interested in measuring the overall levels of tourism satisfaction with their experiences in particular destinations as well as satisfaction with specific attributes at service encounter level such as in a hotel or at an attraction. Foster (2000) while another focus in studying tourism satisfaction is to determine satisfaction with a series of service encounters as experienced in a hotel, in a travel agency or in a tourist attraction (Macintos, 2002). Research interests in methodologies for studying tourism satisfaction have been comprehensive summarized by Kozak (2001).Tourism satisfaction with a destination has been examined as a gap analysis between pre-travel expectations and post travel experiences (Schofield, 1999). Based on the cumulative nature of tourists experiences, Scott, Tian, Wang, and Munson (2005) developed a tourism satisfaction model. Bowen and Clarke (2002) articulated a context Tourism satisfaction level can be attributed to different destination attributes including tangible produces and prices to intangible service quality and the friendliness of the local people (Ryan,1999). The deliveries of good core services alone cannot guarantee customer satisfaction, and overall satisfaction and repurchase intention are differentially influenced by the various service encounters experienced in a chain of service activities (John Tim 2000). Durocher (1994) argued that the speed of recovery depends on three factors: the extent of damage caused by the natural disaster, the efficiency with which tourism partners bring their facilities back online, and an effective marketing message that clearly states that the destination is available to the public (Durocher). Although the first two factors concern the short-term immediate response, the third involves a long-term continuous process that aims to restore consumer confidence. Conventional approaches to crisis management implicitly assume that the primary goal is to restore the precrisis equilibrium level. However, Faulkner and Vikulov (2001) argued that because of the lingering effect of a disaster, trying to achieve the precrisis equilibrium level could be a redundant (or suboptimal) approach with regard to long-term sustainability. The chaos created by a crisis can therefore lead to a creative process with potential for new configurations (Faulkner Vikulov 2001). In other words, the crisis can be an opportunity for innovation, with the launching of new marketing campaigns and development of new products through cooperation with industry partners. These new products and marketing plans should be tailor-made to attract identified key generating markets, because resources are always limited during hard times. Another important strategy is to nurture a healthy and positive relationship with the major media. From the long-term perspective, the restoration of customer confidence is the focus of post disaster recovery, and this can only be done by building a positive image of the destination (Santana, 2003). By inviting major media to visit the area affected, not only the availability of the destination is demonstrated but also the elimination of travel barriers for potential tourists.Although often associated with enjoyment, pleasure, relaxation, and safety, tourism is by nature an industry susceptible to variations in the external environment, including crises and disasters (Santana, 2003.). In times of unpredictable events, government plays an essential role in the response and recovery stages needed to minimize damage and bring life back to normal (Peterson, 1995). The reaction of government agencies and the tourism industry is a critical topic in tourism crisis management that has not ye t been fully addressed (Faulkner,2001). This study represents one of the first attempts to fill this research gap by examining the post earthquake tourists perceptions of Sichuan tourism. METHODOLOGY The study will be a qualitative research, as the qualitative methods will be more appropriate in understanding meanings and experiences relevant to the research. Quantitative methods might however be used if the need arises. Qualitative methods have however, been criticized for not having the scientific firmness. Some researchers have gone further in an attempt to provide systematic approaches to assess its quality. McInnins-Dittrich (1996), for example, identified several dimensions along with which the reliability of quality studies can be assessed: transferability, dependability, credibility, authenticity, and conformability. Guided by the above-mentioned principles, the research will recognize the importance of providing reliable, verifiable, and credible data. The research design will involve a mixed methods approach to help understand the potential tourists perception towards the post-earthquake Sichuan Tourism. To provide an in-depth interpretation of the aims, certain variables will be identified to ensure that all data is utilized successfully to reach the goals of this study, these variables include visitor characteristics, trip characteristics, satisfaction, factors that influence the visitors decision to visit a destination, and Sichuans tourism marketing image. These variables will be fundamentally developed from the examination of previous literature, and the needs for further research as expressed by Sichuan Tourism Administration. Data collection Secondary and primary data collection methods will be used in the research study. The secondary methods to be employed will include literature review, and policy and legislative analysis. Primary methods will include focus group discussions stakeholder consultations, and focused interviews with key informants, interviews with potential tourists in different regions and surveying the attitudes and beliefs across various regions. Survey Considering the questions to be answered by this research, a comprehensive social cultural instrument will be developed. Perceptions, attitudes, and opinion questionnaire (PAOQ) will be informed by literature review and the social cultural factors that are relevant to the target regions. They will also be scientifically validated before administering them across a representative sample in each target region. Using a likert scale, the PAOQ will be a self-reporting assessment of perceptions, attitudes and the opinions of the potential tourists that will be designed for both domestic and international tourists from different regions. The questionnaire will contain several sections: post earthquake perceptions, the attitudes to the Sichuan tourism, opinion on the required action to promote the tourist attractions. The researcher hopes to administer the questionnaires within group settings. Sampling method will be used for the PAOQ. The researcher aims to administer 500 questionnaires across the targeted regions. The questionnaires distribution will depend on the regions population with regions with the high population getting more questionnaires. The researcher also aims for 50-50 representation of the males and females. The key variable will include gender, education, socioeconomic status, age and rural/ urban. Data analysis The researcher will then analyze the PAOQ data using the statistics package for social sciences version 16. The given variables will be analyzed and their contribution to the topic measured. Frequencies will be used to provide the statistics and graphical displays that will be useful in describing the variables to be measured. Cross tabulation, method will also be employed to measure the association of variables. To investigate the possible gender effects, ANOVAs test will be used and conducted between the men and the women on all dependent variables. Differences between the childhood sexual abuse group and the non- childhood sexual abuse group in interpersonal, social, and dynamic personality will be examined using a one-way ANOVA test. The researcher however has the mandate to use any other data analysis technique depending on the kind of data that will be obtained from the field Summary This chapter has described the methodological approaches that will be used to investigate the main objectives of this study. Both objectives will predominantly use qualitative method but where need be the quantitative methods will be employed. It also explains how data will be collected that is through primary and secondary methods. Further describes the researchers survey. Finally, the methods and tolls of data analysis are fully explained research findings and interpretation will be discussed in the next chapter. SECTION 5: BUDGET In order to complete this research, certain amount of budget will be required and the estimate cost is as below: AMOUNT (AUD) ITEMS USD 400.00 Computer and Econometric Software 1. USD 300.00 Conference , accommodation and travel 2. USD 600.00 Data Collection , travelling cost , Stationeries and data analysis 3. USD 1300.00 TOTAL SECTION 6: TIMELINE MARC,2010-APRIL,2011 MARC,2011-APRIL,2012 MARC,2012-APRIL,2013 QTR1 QTR2 QTR3 QTR4 QTR1 QTR2 QTR3 QTR4 QTR1 QTR2 QTR3 QTR4 Candidature Proposal Literature Review Phase 1* Phase 2* Phase3* Thesis Write Up Final Touch UP Submission Phase1*: Data collection Phase 2*: Data Analysis Phase 3*: Thesis Starts to Write up

Impact of exchange rate on the economy

Impact of exchange rate on the economy A countrys exchange rate is explicitly the currency value at which it transacts business with other countries around the world. It determines how much would be an equivalent of its currency which would be used to purchase goods and services from other countries around the global world. The world is a global market that needs a form of agreement in terms of currency at which it trades. The essence of a fixed exchange rate system is to maintain a countrys currency value  within a very narrow band.  This is also regarded as pegged exchange rate. The exchange rate in question depends on the form or type which the government of the country chooses to adopt or to use. OBJECTIVE To discuss issues as they will affect certainty in international trade when all countries adopt a fixed exchange rate. The issues to consider include: Types of exchange rate How exchange rate changes Impact of exchange rate on the economy both nationally and internationally Understanding of fixed exchange rate from demand and supply perspective. IMPACT OF THE ADOPTION OF A FIXED EXCHANGE RATE ON INTERNATIONAL MARKET. In the history of financial world there exists various international monetary systems and foreign exchange rate which not only manage domestic economy of country but also international trade issue. These include: Fixed rate Floating rate Forward rate Spot rate Future rate Amongst these, we shall critically examine the fixed rate and how it can affect international trade as a whole. FIXED RATES According to the writer of ehow found on http://www.ehow.com/list_6804540_types-foreign-exchange-rates.html viewed on 30/12/10 it writes The smaller economies of developing countries adopt the use of fixed foreign exchange rates for trading and to attract foreign investments. By fixing its currency against the currencies of other countries, a country keeps export prices affordable and easy to international buyers and allows for trade surplus over time. Fixed currency rates also allow a country to assure foreign investors of the stable value of their investments in the country. However, under fixed rates, the monetary policies of a country can become ineffective when trying to stimulate domestic economic activities by consumers at the host country. Injecting more money into the economy would normally reduce a countrys currency value against foreign currencies under floating rates. As imports become more expensive, consumers would gradually focus their demand on domestic products, potentially lifting up the economy. With fixed rates, however, the exchange value of domestic currency does not move and more money means more buying power for imports. Such an outcome does not achieve policy makers intention to increase domestic demand. This is expedient in order to ensure that there is a close gap which would assist balance of payment; the international economy would be appreciative of a fixed rate of exchange as it would allow for free f low goods and services at a predicted price. (Reference: http://www.rba.gov.au/publications/confs/1993/intro-93.pdf assessed on 30/12/10) From the above citation from Adrian, it is obvious that fixed exchange rate has its benefits too which would help the international market. Below are some of the merits and demerits of the fixed exchange rate. MERITS OF FIXED EXCHANGE RATE 1. It reduces fluctuation in the value of currencies which can cause problems for firms engaged in Trade. When exchange rate is fixed, it allows for comfort in the desire of the foreign customers who wants to trade with the host country as they would know that the price agreed on for the commodities at the stated time would still be at a given exchange rate. Though the price of the commodity might change, but the exchange rate is known. 2. It allows for foreign firms to invest in countries where fixed exchange rate occurs. Some Japanese firms have said that the UKs reluctance to join the Euro and provide a stable exchange rates make the UK a less desirable place to invest. 3. When the cost of import and export increases, it will therefore increase the income of the host country and the other countries involved. 4. A well monitored exchange rate would assist the domestic companies to sell out there products to the international world without fear of pressure from exchange rate differences, thereby increasing the domestic market and encouraging the local manufacturers to produce more of their products which would be used for international trade. 5. Fixed exchange rate reduces drastically the expectations of inflation in an economy.  Inflation is reduced to a minimal if not zero. This is due to the fact that the one of the major factors that would have allowed for inflation which is differing exchange rate is absent. DEMERITS OF FIXED EXCHANGE RATES 1. To maintain a fixed level of the exchange rate may conflict with other macroeconomic objectives. 2. It is difficult to respond to temporary shocks. For example an oil importer may face a balance of payments deficit if oil price increases, but in a fixed exchange rate there is little chance to devalue. 3. It requires government intervention when there exists too much money in circulation and the fixed rate is affecting the countrys currency adversely. 4. In order to check the problems that may accrue to the countrys currency, the central bank with the government may have to increase interest rate which may not be conducive to the citizenry, leads to unemployment and might lead to recession. (Reference: http://www.economicshelp.org/macroeconomics/exchangerate/advantages-disadvantages-fixed.html assessed on 30/12/10) CONCLUSION From the above mentioned issues on foreign exchange basically on fixed and floating foreign exchange, it is obvious that the floating system of exchange would be better off as the dangers of fixed would be avoided. This is also the system widely used by most countries i.e. the floating exchange rate as it helps to readjust during inflation and deflation. Under a system of fixed exchange rates balance of payments equilibrium is disturbed by a fall in export sales. When the supply curve of foreign exchange moves sharply and the authorities do nothing, an excess demand for foreign exchange will come on the market and thereby causing the exchange rate to rise which means the home currency would depreciate. In order to guard against such happening the home authorities must enter the market, and close the gap by supplying foreign exchange from reserves. Thus the home currency may be supported at cost to the countrys reserves. This would drastically affect the financial reserve of the count ry. However, the implication of the adverse effect on the domestic market is also very crucial. But this is where the government intervention now matters. The government of the concerned countries would buy the currency which is in excess from the market so as to avoid deflation of its currency which could lead to a devastating market economy. A good example is the government of Australia as written by Adrian Blundell-Wignall. He wrote Australias economic relations with the rest of the world have undergone profound change over the past decade. The floating of the exchange rate opened goods markets to greater international competition and Australias pattern of international trade changed considerably. Concomitantly, increasing integration into world financial markets saw Australia drawing more heavily on foreign capital. In the past 15 years, two broad developments in the world economy have been particularly significant for Australia: financial market liberalisation and the emergence of t he newly industrialising countries in Asia. From the late 1970s, financial liberalisation (and, in particular, the removal of capital controls) made financial markets increasingly globalised. At times, these developments were associated with speculative capital flows that undermined attempts to reconcile managed exchange rates with domestic macroeconomic objectives. At the end of 1983, against the background of more general moves to deregulate the financial system, the Australian dollar was floated. Australia is a small commodity exporting country, subject to significant terms of trade shocks driven by the world commodity price cycle. Once the currency was floated, the nominal exchange rate was able to respond more rapidly to these external shocks, helping to cushion the domestic economy from the inflationary and deflationary pressures to which they gave rise. For example, falls in the terms of trade have been associated with real depreciation which has reduced the negative income effects of the terms of trade decline on exporters and has added stabilising stimulatory influence to the domestic economy. While movements in the currency have been largely driven by commodity prices, it is widely felt that the depreciation in the mid-1980s went beyond that justified by fundamentals. While the real exchange rate recovered in the second half of the 1980s and fell again in the early 1990s, in line with the behaviour of the terms of trade, the overall trend in the past two decades has been one of real depreciation. This downward trend in the real exchange rate occurred at a time when Australia also began to cumulate significantly larger external deficits, so that foreign debt was rising as a share of income. This too can be linked to the globalisation of world capital markets. The greater degree of integration of Australia into world financial markets meant that it became easier to attract capital from the rest of the world to finance investment independently of the level of national saving. There were two major investment booms in the 1980s associated with high real exchange rates and current account deteriorations. The first occurred around the time of the second oil price rise in the late 1970s/early 1980s, and resulted largely from improved prospects for the ene rgy and minerals sectors. The second was associated with the asset price boom later in the decade. Both episodes were accompanied by a build-up in Australias foreign liabilities and were followed by a world recession and falling commodity prices.

Abortion is Immature :: abortion argumentative persuasive argument

Abortion is Immature What would it be like to die so young and so fragile? What would it be like to kill something so young and so fragile? Abortion, in my definition, is the taking of a life. Now it is hard for me to sit here and type this paper when I know good and well that if my daughter or wife were ever raped I would want whatever was inside of them out -- immediately. I think that to take the life of an unborn just because the couple involved were too lazy to use contraceptives, is immature and quite horrid. In this informative paper, you as a reader will come to understand the facts on abortion and then understand where I stand. Let us begin. According to US Abortion data provided in 1995 by Planned Parenthood, there were 1.8 million first trimester abortions, 180 thousand second trimester abortions, and about four thousand required Hysterotomies. Now according to these figures we, as the United States, killed/aborted 1,984,000 fetus'. Sure we could keep down the increase in our population at this rate, but where would we be emotionally? Speaking from a "my" point of view, I wouldn't get to far. I enjoy children profusely and thinking that there are 1.9 million children less in the world every year sends shivers down my spine. But I guess you may say that it is not my place to speak. There are fewer deaths per million abortions than per million births according to the Planned Parenthood survey of 1995. There are nine deaths per million abortion procedures and sixty-three deaths per million births. Both complications and the death rate rise with the age of the fetus. I can understand that these facts portray a much better picture for abortion than carrying to term, but what about the pain that the fetus will feel? According to pro-choice physicians they believe that a certain connection, synaptic, necessary to perceive pain, for the fetus, is not formed until the twenty-eighth week of pregnancy. Others who are pro-life believe that the fetus can feel pain as early as the seventh week. But even though these facts by Planned Parenthood show a better side to abortion as well, nothing can compare to the guilt of the "