What are the roots of the present crisis of the euro Essay

What are the roots of the present crisis of the euro - Essay Example There are good promises about integrating the euro zone into one currency policy. One of the reasons why there are many countries engaged themselves into this one-currency policy is to substantially address the need of their economy to rise up above any other. However, behind all of these promises are some limitations that need to be taken into consideration (Provopoulos, 2010). One of the limitations is the substantial loss of the ability of a participating nation to set its individual domestic monetary policy. Another is losing its ability to change the nominal exchange rate of its currency. It is therefore clear that with the optimum currency area policy; there could be no significant contribution of uniting the euro especially with the presence of weaker economies because the euro’s market strength would eventually be dragged down (McGuinness, 2010). Another main reason why the euro crisis comes into a significant issue in the euro zone is the failure of Stability and Grow th Pact to ensure fiscal discipline (Provolous, 2010). This is clear in the case of Greece in which its debt to GDP ratio had risen to 12.6 per cent which is extremely above the required maximum of only 3 per cent. This resulted to the bail-outs of Greece and Irish Republic which has become the major topic in the recent euro crisis (BBC News, 2011). The Greek government is promising a good opportunity for everyone. This entices investors to invest in its economy and in return the government substantially does its best in the process. However, this led to increase in government spending which made it highly covered with debt. Tax is an important financial source of the government. However, it would be impractical to increase tax rate because this would only encourage investors to go to countries with low taxation rate. The worst case scenario is that this would just only encourage investors to falsify financial information just to save them from paying high tax rate. This is the reas on why the Government especially in the case of Greece to result to borrowing just to meet its obligation. In reality, it is hard to redistribute wealth by increasing tax. This would only result to other complex problems that would help aggravate the situation. However, in reality it is not only Greece doing this same strategy but it includes Portugal, Italy, Greece, and Spain. These countries are also known for overspending and borrowing for many decades just like Greece. Considering that these countries would be unable to pay their debt, and then the present crisis of the euro will be persistent and could hardly challenge the US dollar as the leading currency in the world. Government expenditure therefore is the leading driving force allowing the rise in the share of government spending. This is evident in the case of some European countries in which government spending increased from 43 percent to 50 percent (Provolous, 2010). It is therefore important that investments in high-va lue added sectors should be maintained and this can only be realised by the reduction of bureaucracy and rigidities in the labour, product and service markets (Provolous, 2010). Another root cause can be traced to the problems underlying a one-size-fits-all monetary policy. One significant problem is the issue of political and cultural differences among participating European countries (Hughes, 2010; Provolous). Unlike with the United States, there is no central fiscal authority in the euro area. This central fiscal authority is viewed to significantly contribute to redistribute fiscal resources. Furthermore, unlike in the United States, cultural differences particularly in the language make labour a less mobile in euro area. Labour is particularly important in the euro area. However, this is continuously challenged by the cheap labour in China. This significantly increases the chance of investors to gain more in China. Thus, this leaves behind the euro area. Specifically, it was ve ry clear that it reduced its employment

MANAGMENT OF HEALTH AND SAFETY Assignment Example | Topics and Well Written Essays - 1750 words

MANAGMENT OF HEALTH AND SAFETY - Assignment Example (2002) stated that contrary to the standard business of product and services, customer satisfaction is intangible and challenging to measure but it is a fundamental aspect of the hospitality business. The industry involves offering an environment that mimics the customer’s comfort zone in terms of accommodation and catering as well as communication. Health and safety must be guaranteed for customers and employees to ensure accomplishment of customer expectations in the hospitality industry are perceived with greater intensity than for many other products and services (David, 2009). Garden, (2008) observed that modern technology has enhanced customer feedback mechanisms, such as the application of mobile technology for customers to place a request and to give instantaneous feedback with regards to the services offered. According to Marshall & Johnston (2009), customers are rational in their evaluation and may give positive remarks where least expected or fail to give credit whe re it is highly anticipated. Hammond et al. (2006) proposes a point of involvement and feedback check whereby employees and customers are offered a chance to indicate if they are satisfied with the health and safety measures that have been put in place within the organization at all levels of the supply chain. Electronic devices can be installed in the various facilities available for customers and employees for them to key in anonymously their views regarding their perceptions with regard to their health and safety. These include food, water and environmental safety in relation to facilities such as kitchen, toilet, bathroom, and bed or water dispenser among others. Whenever an issue is detected, it is electronically transmitted directly into the management’s notification system. Zheng (2004) observed that constant monitoring of the implementation of health and safety standards is necessary for effective improvements whenever changes are needed. Popper (2004) noted that heal th and safety surveys enhance an organizations capacity to retain and also attract potential customers as well as to retain employees. This is accomplished through well designed and implemented study questions that allow real trend exploration. Such surveys provide useful information regarding the necessary amendments to improve health and safety standards. CODEX ELEMENTARIOS was developed by the UN to control risks in 1962. It developed the hazard assessment system called HACCP (Hazard Analysis and Critical Control; Point). Health and safety study helps in risk analysis to determine if there is high risk (Critical Control Point), medium risk or low risk (control points). It is important to help in the analysis of the intensity or severity of risk and frequency of occurrence (Kotler et al. 2002). 3.0 Research Question Are employees and customers exposed to risks that may affect their well-being? 3.1 Research Philosophy, Approach and Strategy This research will be based on the genera l understanding that workers and customers are rational and will offer a true reflection of their feelings regarding their health and safety in the organization. It is assumed that they clearly understand what they need and are also capable of evaluating whether their expectations have been met. It is also expected that employees and customers will be ready to sacrifice 5 minutes of their time to

Defining perfomance measures in Saudi Aramco Medical Services Essay

Defining perfomance measures in Saudi Aramco Medical Services Organization - Essay Example Action Plan 18 Saudi Aramco 18 5.2. Gantt Chart of the Action Plan 19 6.Analysis and Recommendations 20 Conclusion 23 Works Cited 24 Introduction The performance measures of an organization quantitatively display the important facets of the products and/or services rendered by the organization to its customer(s). Performance measures of an organization are one of the effective tools to identify its role and importance in the marketplace. Moreover, the process also helps the organization to recognize its present performance, customer satisfaction level to identify the prospects of achievement of the organizational objectives. Furthermore, performance measurement is a statistical control of the organization which initiates future initiatives for developing the products/services for its customers. Hence, it can be affirmed that measuring the performances of an organization fundamentally concentrates on the process of collecting and accounting the information about the productivity of it s workforce along with the quality of services rendered (â€Å"What are Performance Measures†). The performance measures of an organization should classify the risks to be determined by the process along with the information source and required time for the measurement. Subsequently, all measurements should be accomplished in an objective-oriented way being convenient to reduce outside influences over the employee performances. This particular strategy is quite likely to motivate the usage of more efficient cost effective methods towards augmenting the productivity of the overall organization (â€Å"Performance Measures†). Thesis Statement The paper intends to focus on the performance measures of Saudi Aramco Medical Service Organization (SAMSO). The paper also reflects the organizational profile with its various values, mission and vision. Moreover, the study also intends to highlight the key strategies and accomplishments with regard to develop suggestions for the en hancement of the performance of SAMSO. With this concern, the detail organizational profile has been discussed along with its value, mission and vision statements. The performance measurement method and the key strategies of SAMSO have also been critically analyzed with rational recommendations throughout the study of the paper. 1. Organization Profile a. Name of the Organisation SAMSO is a multifaceted medical service provider which is operated as a privately owned health-care division that serves the large number of Saudi Aramco Global Oil Enterprise’s employees (around 54000) and their families (â€Å"Corporate Citizenship Report 2010†). b. Operations of the Organization Saudi Aramco commenced its medical hospitality unit in the year 1933 and constructed its first separate health-care center in Dhahran in 1955 known as ‘Dhahran Health Centre’. In the present day context, Saudi Aramco operates to serve as one of the modernized health service providing or ganizations among the Middle East Countries. The health care unit of the organization provides its services throughout the city of Dhahran as well as other neighboring cities of the Eastern Saudi Arabia region (Al-Ghamdi). c. Number of Employees of the Organization Currently the organization provides its health-care service with the assistance of around 7334 employees (â€Å"Corporate Citizenship Report 2010†). d. Department My department is the Medical Support Services Department in SAMSO of which Medical Patient Processing & Records Division is part of. SAMSO operates with a total of five

Lukes the Prodigal Son and Hollywoods Perception of the Gospel Essay

Lukes the Prodigal Son and Hollywoods Perception of the Gospel - Essay Example Here, at his execution, Jesus is tempted by an alluring image of a peaceful and pleasant life with Mary Magdelene to try to get him to refuse the sacrifice he must make. The carpenter Jesus of Nazareth, tormented by the temptations of demons, the guilt of making crosses for the Romans, pity for men and the world, and the constant call of God, sets out to find what God wills for him. But as his mission nears fulfillment, he must face the greatest temptation: the normal life of a good man. This movie is actually not based on the Gospels, but on Nikos Kazantzakis' novel of the same name. But in a sense, whether it is a movie or a novel, this ideology of a common and insignificant life is more of modern conception of self-help motives driven by (apparently) hazard free market economy. Jesus is shown at the outset as a lonely, masochistic soul full of self-contempt, tempted to leave the cross for the life of an ordinary man who knows the felicities of marriage, sex, and family: this is th e "last temptation" that nearly wrenches away the meaning of his sacrifice. But here is a perception that invokes the feeling of a common man who wants the world to be ideally trouble free and simple. Alternately, Godspell (1973) written and directed by David Greene based on the novel by John-Michael Tebelak is a modern-day version of the gospels, opening with John the Baptist

Interpersonal Management Skills Coursework Example | Topics and Well Written Essays - 1250 words

Interpersonal Management Skills - Coursework Example Leaders are expected to understand personalities of the people they lead. Interpersonal intelligence helps a person to deal with their emotions. It enables people to appreciate what they feel. Once a person is able to understand what s/he is going through, s/he is able to make wise decisions. Such a person will in turn appreciate others who are living around him or her. With interpersonal intelligence, one can understand other people and properly respond to their feelings. Responding to others needs is achieved when one fully understands their emotions (Fabian, Not dated). Self management skills enable a person to be positive about other people. In such a case, a leader will take time to address concerns of other people. A good leader will take time to inspire workers through encouragement. This promotes confidence of other people and boosts their morale. People with a proper interpersonal intelligence will relate with others showing a lot of understanding and concern. Management ski lls like these are important because managers encounter many people who have different expectations. Interpersonal intelligence helps a person to get along with others well during interaction. ... This ensures that people are able to live without commotion while they are living together in an organization. Attributes of a person are shaped by intelligence of people if they are able to deal with each other and to control their emotions. Behaviours of people are modulated by their better understanding of their inner feelings. Personal intelligence is manifested in the implementation of thoughts a person has about a situation or a condition. Managers should learn intrapersonal and interpersonal management skills so that they can choose the words they can speak to specified people. These skills are effective because they determine the choice of thoughts to release as actions or words (Fabian, Not dated). Statements from emotional intelligence intrapersonal intelligence that can reflect my strengths are: first, I have emotional resilience; this means that I withstand pressure and stress if they befall me, I regain my strength and continue with life. I am in full control of my feeli ngs. Second, I have personal power, and I am personally effective in control of my behaviour. Through this ability, I can choose what to do and when to do it. My behaviour is manageable because I have ability to avoid what I do not think worthwhile. The third statement of emotional intelligence intrapersonal intelligence I can say about myself is that I am flexible. This helps me to adapt to changes in the environment in which I live in. Sometimes these changes in the environment may not be predicted. This statement is a manifestation that I can respond to changes without struggling to make consultation. For example, at one time I am expected to perform roles as a mother of my children and at some other times I am supposed to behave as a wife to someone. These roles I manage because

Maths Coursework Investigating Borders Essay Example | Topics and Well Written Essays - 1000 words

Maths Coursework Investigating Borders - Essay Example Here we observe that the second row gives the number of white squares added at each level, and the third row is a constant, that is, 4. Now we will first find the formula for the white squares and after that the formula for the total squares. Subtracting from the total squares the number of white squares we will get the number of black squares. Let us find the pattern in counting all the squares. In Pattern 1 we can see first two rows contain 1+3=4 squares. If we consider the last two rows then they also contain 1+3=4 squares. We are counting the three squares in the middle row two times so we have to subtract them from the total to get the total number of squares in the pattern. So we get In Pattern 2 the first three rows contain 1+3+5=9 squares. Similarly the last three rows contain 9 squares. We are counting the five squares in the middle row two times so we have to subtract them to get the total number of squares in the pattern. So we

Interpersonal Management Skills Coursework Example | Topics and Well Written Essays - 1250 words

Interpersonal Management Skills - Coursework Example Leaders are expected to understand personalities of the people they lead. Interpersonal intelligence helps a person to deal with their emotions. It enables people to appreciate what they feel. Once a person is able to understand what s/he is going through, s/he is able to make wise decisions. Such a person will in turn appreciate others who are living around him or her. With interpersonal intelligence, one can understand other people and properly respond to their feelings. Responding to others needs is achieved when one fully understands their emotions (Fabian, Not dated). Self management skills enable a person to be positive about other people. In such a case, a leader will take time to address concerns of other people. A good leader will take time to inspire workers through encouragement. This promotes confidence of other people and boosts their morale. People with a proper interpersonal intelligence will relate with others showing a lot of understanding and concern. Management ski lls like these are important because managers encounter many people who have different expectations. Interpersonal intelligence helps a person to get along with others well during interaction. ... This ensures that people are able to live without commotion while they are living together in an organization. Attributes of a person are shaped by intelligence of people if they are able to deal with each other and to control their emotions. Behaviours of people are modulated by their better understanding of their inner feelings. Personal intelligence is manifested in the implementation of thoughts a person has about a situation or a condition. Managers should learn intrapersonal and interpersonal management skills so that they can choose the words they can speak to specified people. These skills are effective because they determine the choice of thoughts to release as actions or words (Fabian, Not dated). Statements from emotional intelligence intrapersonal intelligence that can reflect my strengths are: first, I have emotional resilience; this means that I withstand pressure and stress if they befall me, I regain my strength and continue with life. I am in full control of my feeli ngs. Second, I have personal power, and I am personally effective in control of my behaviour. Through this ability, I can choose what to do and when to do it. My behaviour is manageable because I have ability to avoid what I do not think worthwhile. The third statement of emotional intelligence intrapersonal intelligence I can say about myself is that I am flexible. This helps me to adapt to changes in the environment in which I live in. Sometimes these changes in the environment may not be predicted. This statement is a manifestation that I can respond to changes without struggling to make consultation. For example, at one time I am expected to perform roles as a mother of my children and at some other times I am supposed to behave as a wife to someone. These roles I manage because