Financial Crisis The Worst Economic Event Essay

The Financial Crisis was the worst economic event to occur in the United States since the Great Depression in the 1930’s. Millions of people lost their jobs, assets, and life savings as a result. The crisis also affected millions of people all around the world as the event unfortunately made low income citizens in other countries even poorer. The causes of the Financial Crisis are pretty clear, greed seemed to fuel the entire event. Anything that the executives and other high ranking people of financial institutions could do for more money, they did even though it came at the expense of others. Had the government not stepped in and bailed out some of the companies that were on the brink of bankruptcy, who knows how much long the Financial Crisis could have lasted. Now you would think that lessons would be learned by this horrific event, but that is not necessarily the case. While the government took measures to prevent another Financial Crisis America could easily have anothe r Financial Crisis again in the future, and this one may be worse than the first. You always hear people say that greed is the root of all evil, and in the case of the Financial Crisis that is extremely true. Prior to the crisis the housing market was booming and the value of homes were increasing significantly. People were taking out loans and paying mortgages far more often during this time because they were unable to afford the cost of homes due to the large value increase. Financial institutionsShow MoreRelatedThe World Experienced A Tremendous Financial Crisis Essay1131 Words   |  5 Pagestremendous financial crisis which rooted from the U.S housing market; moreover, it is considered by many economists as one of the worst recession since the Great Depression in 1930s. After posing a huge effect on the U.S economy, the financial crisis expanded to Europe and the rest of the world. It brought governments down, ruined economies, crumble financial corporations and impoverish ind ividual lives. For example, the financial crisis has resulted in the collapse of massive financial institutionsRead MoreAfter The Music Stopped : The Financial Crisis, The Response, And The Work Ahead1248 Words   |  5 Pages In the insightful and informative novel â€Å"After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead† by Alan S. Blinder, the author offers an intriguing point of view towards what factors caused the 2008 financial crisis, the ways in which the federal government acted and regulated the crisis as well as what â€Å"10 financial commandments† bankers, regulators, and market participants should be attentive of in the future. Before delving into the novel itself, let’s takeRead MoreThe Financial Crisis in Iceland Essay607 Words   |  3 PagesIceland is a small European Country. Its currency is Krona, ISK. The 2008-2009 Icelandic financial crisis was the major economic and political event in the Iceland. It had been worst financial crisis ever experienced by a small country. Sharp turn in 2007-2008 ISK dropped 24% against Euro from Nov 2007 to June 2008. Iceland involved the collapse of all three of the countrys major privately owned commercial banks, following their difficulties in refinancing their short-term debt and a run on depositsRead MoreFinancial Crisis Essay1119 Words   |  5 Pageshas been attributed to various periods of economic turmoil in the past several decades; the 1979 energy crisis, the Savings and Loans crisis of 1982, the â€Å"Black Monday† global stock market crashes of 1987, the Dotcom bubble of 2000-2, the recession of 2002-3, the housing bubble and subsequent crisis of 2006-2008. It is from many of these crises that we can observe a pattern; many periods of economic downturn could have been prevented had common sense financial policies been enacted prior to these redRead MoreThe International Monetary Fund ( Imf )1310 Words   |  6 PagesIn the last chapter we looked at how incompetent and politically driven economic policy making drove Europe into prolonged recession and high unemployment. The financial crises and fear of a meltdown slowed world economic growth conside rably. In October 2010, the International Monetary Fund (IMF) projected 4.6 percent growth for the global economy in 2013; it ended up being just 3 percent. This difference may not seem like much, but in terms of lost output it is more than $800 billion, and it isRead MoreEssay On Economic Conditions812 Words   |  4 PagesEconomic Conditions During the Time Period Between 2005-2010, Canada was all over the place in terms of economic conditions. During this time period Canada was run under a Conservative government led by Stephen Harper. Some global events during the time include: the 2008 financial crisis, 2010 Olympic Games, and the 2010 G20 Summit. In early 2009 the Canadian economy, as well as other major economies fell into a deep recession because of the 2009 financial crisis. The recession was the second worstRead MoreGlobal Financial Crisis : Its Causes And The Global Responses Essay1592 Words   |  7 PagesAssignment topic: Global financial crisis: its cause and the global responses Introduction The global financial crisis or economy crisis is commonly believed to have begun in July 2007 with credit crunch, when a loss of confidence by the US investors in the value of sub-prime mortgages caused a liquidity crisis. On the other hand, due to the big changes that took place over the last 20 to 30 years in the worldwide economy and the influence of 2007 financial crisis, it has re-emerged as one of theRead MoreKeynesian Economics and the Mortgage Crisis1735 Words   |  7 PagesKeynesian Economics and the Mortgage Crisis The recent mortgage crisis in the US was unprecedented. It led to a massive clampdown of financial institutions, occasioning one of the worst financial melt-downs the US has ever faced (Jaffe, 2008). Quite naturally, it would be necessary to examine the cause of the crisis in order to draft prophylactic measures that would prevent the same financial disaster in the future. This paper will discuss the events that led to the mortgage crisis. The housingRead MoreThe Subprime Mortgage Crisis Of The United States Essay1575 Words   |  7 Pagessubprime mortgage crisis that took place in the united states was the start of events that led to the (2008) financial crisis, marked by a hike in subprime mortgage defaults and foreclosures. I seek to discuss in my paper the U.S. causes that eventually led to the subprime mortgage crisis. Like, low interest rates and housing prices, and how this eventually led to a localized credit dilemma in other financial regions that finally made a difference in the actual economy or the financial system. In earlierRead MoreCiti Singapore: Company Analysis1754 Words   |  7 PagesCiti Singapore Contents Introduction of the Company 3 Environmental Factors 4 Financial Sector Uncertainty 4 Recovery from the Current Recession 4 Potential for another Global Recession 5 International Growth 5 Other Business Considerations 5 Demand for Capital 5 Demand for Deposits and Investments Opportunities 6 Citis Business Functions 6 Planning 6 Strategizing 6 Organizing 7 Leading 7 Controlling 7 Conclusion 8 Recommendations 8 Works Cited 10 Introduction

Political Crisis Free Essays

The recent political crisis in Mali has something to do with the Tuareg people that live in this region and the general religion of the region. The Tuareg people are nomadic farmers. North Africa is primarily Muslim and is heavily influenced by what happens in the Muslim world. We will write a custom essay sample on Political Crisis or any similar topic only for you Order Now Muslim rebel groups like the Ansar Dine seek a nation that abides by Islamic Law. Others like the Islamic Movement for Azawad seek an independent state in Northern Mali and acknowledgement of that state by the world. Mali, like most of North Africa seeks an Islamic government. The NMLA (the National Movement for Liberation of Azawad) is a Tuareg lead group that is fighting for the rights of the nomadic Tuareg people. Mali’s government has never really had much power. In 1979 when the constitution was established Mali still remained under the heavy military control. Then when Mali was a democratic government citizens question the government’s legitimacy when president Toure won in a landslide election in 2002. In 2012 Captain Amadou Sanogo lead a military that ousted president Toure. Also the government has had trouble dealing with rebel groups in the north. Rebel groups like the Ansar Dine and Mujao have taken control of many cities in North Mali. These rebel groups are growing stronger in the passing months, and the government has not been able to stop it. The citizens have had little say in Mali, there was a brief period from 1991 tot the present where the citizens have had a say in the government, the Malian government for the most part has been an authoritarian government. Civilian protest has had little effect on the government in place. The only groups that have been able to make any change are the extremist rebel groups that have taken control of the north. The Mali army is ill equipped to fight this rebel threat. Under president Amadou Toure, the government put their money and resources into fight the MNLA and had ignored the Islamic groups. This allowed the Islamic rebel groups to grow more powerful. Many of the rebels are veterans from Libyan revolution this past year, bringing expertise and powerful weapons into the fray the Captain Sanogo in 2012 promised to fight the Islamic rebels, but the ill-equipped under funded Mali army was no match for the rebel extremists and lost even more control of the North. There are people that have been victims of rebel attacks, some need medical attention, but the government is doing nothing to aid them. The penetration of government policy and laws to the local levels of government has been quite ineffective. Northern Mali is under heavy Islamic control and some parts have been known to follow Sharia law and other Islamic laws. There is a strict dress code on how women should dress. The National government has virtually no power in northern Mali. Mali is a once democratic nation under military influence. The nation is fighting strong resistance from their Mulism and Tuareg communities. It’s government is losing control of the situation and has virtually lost it’s northern half to extremists. Mali’s government has problems distributing goods to its citizens. The Mali government will need international assistance to combat the resistance in the North. How to cite Political Crisis, Essay examples

Business Model Dilemma of Technology †Free Samples to Students

Question: Discuss about the Business Model Dilemma of Technology. Answer: Introduction: It would be correct to say that the social and the technical systems must work together to have the best result for any organization. We can take various examples of organization where social and technical models are implemented together. Lets take the example of BHP Billiton, which is a large organization in Australia. The company has a strong agenda of helping the society as a part of Corporate Social Responsibility. The management of BHP wants to use technical expertise and system to maximum possible extent so that the social benefits could be delivered to society. The best outcome of the organization is to maintain a balance between profitability and social responsibility. The successful organizations are one that is accountable (Chesbrough Rosenbloom, 2002). The accountability towards the society or the social dimension suggests that organizations should have a plan to contribute towards the society. BHP Billiton uses a practical and standardized approach to integrate social an d technical system. The company has developed a strong ERP system, where different functions of organizations are integrated. These integrations ensure that social and technical objectives of BHP Billiton are met. I believe that one of the best examples of social and technical system working together would be when organizations uses integrated technology and latest technical platforms like mobile, cloud computing to solve societal problems. The integration between the social and the technical system is useful for various internal and external stakeholders of the organization. The large organizations like BHP Billiton have developed a two-way communication channel between the organization and the external world and it enables the organization to keep a close watch on societal objectives. The desired objectives for the perfect mapping between the social and technical objectives are achieved when different internal and external stakeholders work together (Boons Montalvo, 2013). I believe that it is important to create and establish a system of feedback where the external stakeholders can give continuous feedback to the internal stakeholders of the organizations like employees. At the same time, the management of BHP Billiton should ensure that its efforts are not wasted to bring different stakeholders together. In fact, one of the objectives of mapping between social and technical platforms is that the organizational overhead should reduce. Describe your workplace (or an organization you know well if you dont have a job) from a systems perspective (Week 2). Briefly mention the organisations size, sector and product/service, age. Reflect on its structure and design; how the parts of this organisation work together to achieve outcomes. In your opinion, how effective is the managerial subsystem in your organization? Provide an example to support your opinion. Lets talk the example of Qantas Airways. For Qantas Airways, the objective is maximum customer satisfaction and their approach is based on Customer First. The organization has been using system model and system perspective to manage its operations. The system perspective or the system model is a powerful model that large organizations can use. This model provides a singular view of the organization. With this model, the organization is considered as a single system and all the functions of organizations are considered internal to the organizations (Pandey Kumar, 2016). The system view helps the organizations to have a single touch point with the market. It eventually helps the organizations to behave like a single entity. The approach of single entity helps organizations to have effective relationship with the outside world. I believe that it is never easy to implement the system thinking approach. There are various challenges to implement the system thinking approach. I can say that Qantas Airways is one such organization that has been able to implement the system thinking effectively. However, it does not mean that all the organizations would be able to master the art of critical thinking. One of the basic requirements or prerequisite of critical thinking is that different departments of the organization should work together (Bas, 2014). The organization may not be able to master the art of system thinking if it is not able to take entire organization as a single system. In the classical terms, organization as a single system means that the entire organization should have a common vision and common set of objectives and all the employees of the organization should have a common vision to achieve that objective. It is also important to mention that it take time for organizations to implement the system thinking approach. For the implementation purpose, organizations should start with an assessment phase where the organizations readiness about the system thinking is judged (Martinuzzi Sedlacko, 2016). Once the assessment is done the next phase should be framework development phase in which a framework should be developed to bring the system thinking in the organization. While implementing the system thinking approach, it is important that organizations must have a long-term plan in place. Reflect on Human Resource interventions (Week 5) as a means of organizational improvement and complete 1 of the questions below: Have you ever participated in any HR interventions designed to build interpersonal skills, such as team-building? How was it carried out? How effective was it? If you have not been involved in any such interventions, choose 2 HR interventions discussed in the lecture pod that you think have the greatest likelihood of improving organizational performance. Explain why you chose each one. There are various types of HR interventions that organizations can use to improve the performance. Simple defined, HR interventions are the set of practices that human resource managers use with the objective to improve the performance of organization. According to me, the two HR intervention that has the maximum impact on organizational performance are leadership development programs and performance appraisal interventions (Nayak Sahoo, 206). The leadership development programs are important because the growth of the organizations depends on the enthusiasm exhibited by the leaders. I believe that leaders are like and engine and more powerful the engine, more powerful the organization would be. I feel that the leadership development program or leadership intervention is a wide term. If we talk about specific interventions under leadership programs then it would be things like 360-degree feedback system, two way communication, etc. The focuses of leadership development programs are to provide a platform where leaders can continue and develop their skills. It would not be an exaggeration to say that leaders should be effective so that leaders can get the best work done from the employees (Sheehan, 2014). In the end leaders should be able to take responsibility of the team members and employees. Therefore, for organizations, leadership development interventions are the one of the most important interventions that organization s can have. The second intervention would be performance appraisal intervention. It is important that the contemporary organizations should involve themselves in performance based management system. The performance based management system would ensure that organizations are not biased towards employees while doing their performance appraisal. It is important that employees should realize that employees are the most important assets and therefore investment should be made to develop and implement a robust appraisal system. An active and unbiased appraisal system would ensure that employees can have their trust maintained towards the organization. It is critical to get the trust of employees as the growth and development of organization depends on the support shown by the employees. I particularly like the performance appraisal intervention as I believe that performance appraisal is one of the most important thing for employees. In an organizational setting, employees may work for number of factor s. However, it is the tendency of employees to be known for their work. Employees love rewards and they would have further motivation to work if their efforts are being appreciated by the management. Moreover, one of the key aspects of performance appraisal is monetary awards. People want a fair and just compensation for their rewards and they want that their salary should increase with each appraisal cycle (Tongur Engwall, 2014). This justifies the need of strong appraisal system and consequently the need of performance management appraisal system. References Bas, E., 2014. An integrated quality function deployment and capital budgeting methodology for occupational safety and health as a systems thinking approach: The case of the construction industry.Accident Analysis Prevention,68, pp.42-56. Boons, F., Montalvo, C., Quist, J. and Wagner, M., 2013. Sustainable innovation, business models and economic performance: an overview.Journal of Cleaner Production,45, pp.1-8. Chesbrough, H. and Rosenbloom, R.S., 2002. The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin?off companies.Industrial and corporate change,11(3), pp.529-555. Martinuzzi, A., Sedlacko, M. and Jaeger, J., 2016. Linking sustainable consumption and growth debates following a systems-thinking approach.Knowledge Brokerage for Sustainable Development: Innovative Tools for Increasing Research Impact and Evidence-Based Policy-Making, p.251. Nayak, T., Sahoo, C.K., Mohanty, P.K. and Sundaray, B.K., 2016. HR interventions and quality of work life of healthcare employees: an investigation.Industrial and Commercial Training,48(5), pp.234-240. Pandey, A. and Kumar, A., 2016. System Thinking Approach to Deal with Sustainability Challenges.System,29, p.30. Sheehan, M., 2014. Human resource management and performance: Evidence from small and medium-sized firms.International Small Business Journal,32(5), pp.545-570. Tongur, S. and Engwall, M., 2014. The business model dilemma of technology shifts.Technovation,34(9), pp.525-535.