Colin Powell :: essays research papers

My Written Report is a Short Biography of Colin Luther Powell. He was born on May 5, 1937 in Presbyterian Hospital. He was born, and grew up, in the South Bronx, New York. There was a big influence of drugs and gangs where Powell lived but, he seemed to steer away from all of that (source 1, page 23). Powell's parents were immigrants from Jamaica. His mother's name is Muad Ariel McKoy. In Jamaica the McKoy fammily watched over sugar plantations. She came to America with her mother (Colin's grandmother). Powell's father's name is Luther Theophilus Powell. In Jamaica the Powell families were peasant farmers. Muad and Luther while in New York not in Jamaica (source 1, page 20, 21). Colin Powell is a smart man. Surprisingly when he was in fourth grade he was in the slow class. When he attended Junior High School, he went to an all male school. He did well academically but he was over looked by his parents because his sister, Marilyn Powell, always did better. He attended Morris High Scho ol in 1950. He was good in high school; he never got into any fights or any sort of trouble. He completed High school in 1954 (source 1, page 29, 30, 32). Powell applied to two colleges City College of New York (CCNY) and New York University (NYU). Both accepted him but he went to CCNY because it only ten dollars a semester as opposed to seven hundred and fifty dollars a semester at NYU. Powell majored in Engendering. He finished college in 1958 (source 1 pages 32, 36). While in college Powell joined the Recruit Officer Training Corps (ROTC). Powell said he joined ROTC because of the discipline and "The sense of comradery among a group of young men who were similarly motivated. Maybe it was the uniform." Another reason he said he joined is because of the association with the military [source 2 (interview page 1) (biography page 1)]. While Powell was in ROTC, he was in the Pershing Rifles. The Pershing Rifles showed that a cadet was more serious about ROTC than a regular ca det. The Pershing Rifles had to stay in ROTC their whole college career. They were distinguished through a yellow wrap worn on their right shoulder (source 1, page 40). In 1987 Powell was the Nation Security Advisor to Ronald Regan. Two years later in 1989 he became the first black officer and the youngest officer to hold the nation's highest military office, the Chairman of Joint Chiefs of Staff.

Leadership in organizations Essay

Leadership is a term with a variety of definitions depending on the context that it’s been defined. One common definition of leadership is â€Å"the behavior of an individual directing the activities of a group toward a shared goal.† The following paragraphs would elaborate on one major approach of studying leadership, its strengths and weakness, and an example in which it was used in an organization. (Yukl, 2010) Participative Leadership style Participative Leadership is the most common leadership style in business settings such as hospitality. Participative Leadership â€Å"involves all members of a team in identifying essential goals and developing procedures or strategies to reach those goals.† It is also known as democratic leadership. In which the leaders often provide guidance to the group. There is active involvement on the part of everyone on the team. It also expands the range of possibilities for the team. (Yukl, 2010) Strengths of Participative Leadership Some advantages of participative leadership involve acceptance, morale, creativity and retention. Participative leadership allows employees to readily accept policies because they were involved the policy change, development one way, or the other. Morale of employees remains high because they feel that they are part of the team. It also helps bring a lot of creativity and creative ideas to the team. (Yukl, 2010) Weaknesses of Participative Leadership One potential disadvantage of participate leadership is the time factor. This leadership style does often involve the need for more time before action is taken. The disadvantages or weaknesses of participative leaderships are fewer than its advantages. Mostly employees are confused, with too much responsibilities and little guidance from management. There is room for major errors that can affect the organization at large. This  leads to lower performance, high employee turnover, customer dissatisfaction and decreased profitability. (Yu kl, 2010) Organization Example: Arizona Biltmore One example of participative leadership is at the front desk department of the Arizona Biltmore. Front Desk Agents are often involved in policies that pertain to the front desk. For example agents are given authority to resolve guest issues by rewarding them with dollar amount credit up to $100.00 based on the issue. Anything over $100.00 needs to be approved by a manager. In addition, employees are encouraged with incentives on room up sells. Thus, this motivates employee morale, brings about creativity with new ideas to improve their performance. On busy days the front office manager is at the front desk working with employees to assist guests. There is active involvement with everyone on the team. One disadvantage that applies to this organization example is there are too many responsibilities for employees and little guidance. Sometimes when agents need a manager to be around with an unresolved guest issue, the manager is not around. Therefore, this type of behavior motivates guests to give negative ratings on line about service or give positive rating if their problems are resolved. Participative Leadership has its advantages and disadvantages, and would determine an organization’s improvement or downfall if used wisely. (Yukl, 2010) References Yukl, G. (2010). Leadership in Organization (7th Ed.). Upper Saddle River, New Jersey: Pearson Education.

Daimler s Corporate Social Responsibility - 1617 Words

Daimler’s Corporate Social Responsibility Efforts Introduction Daimler Daimler, an automobile company founded in 1998 and headquartered in Germany is the owner of Mercedes-Benz, one of the most recognizable car brands in the world. Daimler is a Fortune 500 company and produces an array of luxury automobile products including, but not limited to, cars, trucks, motorhomes, and buses. Mercedes-Benz and Daimler products are recognized and driven around the world. Corporate Social Responsibility Corporate Social Responsibility, or CSR, is an initiative companies voluntarily take part in to give back to the local and global community. There are numerous domains of corporate social responsibility, such as environmental conservation and sustainability, diversity and equal employment opportunity, and volunteer service projects and charitable giving. The number of companies embracing the practice of corporate social responsibility has increased in recent years, as the public has formulated higher expectations that companies act responsibly. Numerous companies have given in to this pressure and have adopted policies to show the public that they value the different domains of CSR. However, despite this attempt to become more socially responsible, companies may excel in some areas while they lag in others, leading to a mixture of both positive and negative CSR within the same company. Daimler is one company that has both positive and negative CSR practices, with the company leading byShow MoreRelatedDaimler s Corporate Social Responsibility1428 Words   |  6 PagesDaimler’s Corporate Social Responsibility (CSR) Efforts Introduction Daimler, an automobile company headquartered in Germany is the owner of Mercedes-Benz, one of the most recognizable car brands in the world. The firm’s Corporate Social Responsibility is discussed in this report. Corporate Social Responsibility Corporate Social Responsibility is an initiative companies voluntarily follow to give back to the local and global community. CSR includes such causes as environmental conservation andRead MoreCsr And Ethical Errors : Violation Of The Clean Air Act ( Caa )1301 Words   |  6 Pageson-board diagnostic systems on approximately 1200,000. Bribery Charges: (2010) Daimler AG, manufacturer of Mercedes cars and trucks, was another company dealing with fallout from violations of the U.S Foreign Corrupt Practices Act (FCPA) in 2010. The allegations included, a brand new armored S-class Mercedes given by the company to Turkmenistan s authoritarian government official as a birthday present. Daimler was also accused by the U.S authorities of having bribed various foreign officialsRead MoreCorporate Social Responsibility in Automotive Industry1496 Words   |  6 PagesTEAM 1 | COMPANY | Aziz | Ford Motors | Manyano | Daimler | Magally | Toyota | Anvesh | Tata Motors | Executive Summary Automotive Industry is one of the biggest economic sectors in the world and the impact they have to the communities in their best practices has a huge advantage promoting corporate social responsibility. We looked and discussed various issues of CSR in the report not limited but including: Investing in the Future, Technology Drives Change Electric cars, Materials and WorkforceRead MoreMercedes Benz Operates On The Differentiation Strategy1633 Words   |  7 Pagesstrategy. Luxury, prestige and technological innovations drive the company s production from the high quality small cars and e-bikes of the smart brand, to the premium automobiles of the global corporation. As a company Daimler, has four core objectives: technology leadership and innovation, delighted customers, best teams (regarding diversity of gender, nationality and age), and profitable growth. Additionally, Daimler has outlined four strategic areas of growth which are strengthening the coreRead MoreMercedes Benz - Corporate Strategy in Emerging Markets6322 Words   |  26 PagesMERCEDES-BENZ CORPORATE STRATEGY IN EMERGING MARKETS Submitted for: BMA5013 Corporate Strategy, Prof. Sai Yayavaram Submitted by: Pia Rauch Akhil Singhania Ayush Trivedi Jaime Garriga Beloso Là ¼thje Brandt Submission date: 04/11/2011 MERCEDES-BENZ – CORPORATE STRATEGY IN EMERGING MARKETS TABLE OF CONTENTS 1. 2. 3. 4. 5. 6. 7. 8 GLOBAL HISTORY................................................................................................................. 1 MERCEDES-BENZ IN INDIA .............Read MoreCompetition and Business Unit Strategy: Walmart and Tesco2824 Words   |  11 Pagesvalue and to keep and support those businesses that it can help succeed. Furthermore, the corporation develops new policies for managing its existing businesses so that the benefit from belonging to Calder increases. The major and necessary task of corporate management in a multi-business firm is managing its set of business units to increase sustainable overall economic performance relative to other investment opportunities. Perhaps the best-known framework for characterizing relationships among theRead MoreTesla Ford s Influence On American Innovation Essay1567 Words   |  7 PagesUCLA Extension Abstract Tesla Motors was established in 2003 by entrepreneurs Martin Eberhard and Marc Tarpenning. Today, Tesla Motors provides power train components for car producers, including Daimler and Toyota, designs and manufactures Model S, the first world ‘s premium zero-emission sedan that became the third best-selling all-electric car in the U.S. The company is worth more than $25 billion and has one of the highest growth rate in U.S. This success of the company is contributedRead MoreA Brief Note On International Business And The Multinational Enterprise1895 Words   |  8 Pages STUDENT ID: S00801773 International Business the Multinational Enterprise INB 430 Movement of Daimler AG in India Word Count: 1460 Contents Introduction 3 Barriers in Globalization 3 Movement to foreign market 5 Global Strategic Partnership 6 Conclusion 7 References 8 Introduction Moving to new country is never easy for any organization and lot of brainstorming and research needs to be done beforeRead MoreStrategic Marketing Planning For Mercedes Benz2745 Words   |  11 Pagesactivities of the company. 4. Findings 4.1 Business description of Mercedes-Benz Mercedes-Benz was founded in 1886 by Gottlieb Daimler and Carl Benz in Germany. They invented the first automobile in the world and the company still has an important influence on today’s mobility and innovation of automobiles. Mercedes-Benz is one of the various brands of the brand portfolio from Daimler. It also includes the brands: Smart, Freightliner, Western Star, BharatBenz, Seat, Fuso and Thomas Built Buses. Mercedes-BenzRead MoreMercedes Benz Organization Behavior Essay2124 Words   |  9 PagesPart A (Ari): Mercedes-Benz is a division of Daimler AG, manufacturing luxury vehicles, buses, and trucks. Mercedes-Benz organization has been around for well over a decade, submitting their first patent for the first car invented by the organization in 1886. Since the creation of the first car, Mercedes-Benz has set the pace for what all cars might someday become (M-BUSA). The companys first vehicle not only changed the way people moved about, but it also sparked a future of innovation

Analysis of Thomas Nagel´s Free Will - 941 Words

Thomas Nagel covers the issues of the purpose of humanity in his piece, â€Å"Free Will†. There are several topics that Nagel covers as he starts out hopeful of the idea of free will itself. Free will defined by Merriam Webster as freedom of humans to make choices that are not determined by prior causes or by divine intervention. All our lives we are taught that we do things on our own accord and that we have the right to choose the things that happen to us. He gives the example of choosing between a peach and some cake. This, actually, is not a real example of free will, but rather personal preference that has been predetermined from our upbringing, the environment we are placed in and even and even genetics. I could choose the peach because I know that my predetermined genes will eventually make me into a diabetic so I want to stay as healthy as I can. That in itself does not give me a very wide scope of choices, but more or less narrows it. As he goes on, he explains that w e all want to think that we have â€Å"free will†. We want to think that we have our own choices and the ability to drive our own lives at our own expense. Yet, when it comes down to it, that is not the case at all. According to his take on it, nothing would be able to be predicted about the future if there was such a thing as free will. A simpler way to look at it is the discussion we had towards the very beginning of the course. We discussed how everything seems to come from something, so how can something comeShow MoreRelatedFunctionalism Of Sociology And Social Anthropology Essay3360 Words   |  14 PagesIN SOCIOLOGY In sociology and social anthropology the term functional analysis is used not only in the mathematical sense, where a function expresses a correspondence between two variables such that the second, or dependent, variable is said to be a function of the first, or the independent variable. Sociologists, of course, like all scientists, are interested in establishing such dependencies. The term functional analysis in their work also has a special connotation similar to the use of theRead MoreHow Does Plato s Allegory Of The Cave Illuminate The Value Of Philosophy?1915 Words   |  8 Pagesconstruct an example of each). Describe what fallacies are, and give examples of the most prominent ones. How does Plato s Allegory of the Cave illuminate the value of philosophy? To begin, it is important to understand and analyze what philosophy is and ultimately what a philosophical question is. Philosophy is a quest after knowledge. Philosophy is the action of thought and analysis, in fact, it is a pretty unique type of thought system. It is here that you begin to find the fundamental differencesRead MoreHumanitarian Logistics and Supply Chain Management5779 Words   |  24 PagesDublin Recommended Citation Scholten, K., Sharkey Scott, P., Fynes, B. Le)agility in humanitarian aid (NGO) supply International Journal of Physical Distribution Logistics Management Volume: 40 Issue: 8/9 2010 This Article is brought to you for free and open access by the School of Management at ARROW@DIT. It has been accepted for inclusion in Articles by an authorized administrator of ARROW@DIT. For more information, please contact yvonne.desmond@dit.ie. (Le)Agility in Humanitarian Aid SupplyRead MoreFreshwater Mussel and Water Quality: a Review of the Effects of Hydrologic and Instream Habitat Alterations9693 Words   |  39 PagesProceedings of the First Freshwater Mollusk Conservation Society Symposium, 1999, pages 261-274  © 2000 Ohio Biological Survey Freshwater mussels and water quality: A review of the effects of hydrologic and instream habitat alterations G. Thomas Watters1 Ohio Biological Survey and Aquatic Ecology Laboratory; 1315 Kinnear Road, The Ohio State University, Columbus, OH 43212 ABSTRACT: Hydraulic impacts represent a suite of habitat alterations that, although having different causes, often have similarRead MoreFactors Affecting Consumer Choice of Mobile Phones: Two Studies from Finland8854 Words   |  36 Pageson consumers’ possible future needs and thus companies that best hunch the technologies and services of future will be the leaders in the discipline (for discussion of technology push see, e.g., Brown, 1991; Hamel and Prahalad, 1991; Kumar, 1997; Nagel, 2003). Karjaluoto et al. 61 The telecommunications sector has been struggling over the past years, not only due to high prices companies paid for UMTS licenses but also due to the global economic downturn. Although the mobile phone handset marketRead MoreBranches of Philosophy8343 Words   |  34 Pageselements, universals, and gods; the analysis of patterns of reasoning and argument; the nature of the good life and the importance of understanding and knowledge in order to pursue it; the explication of the concept of justice, and its relation to various political systems[8]. In this period the crucial features of the philosophical method were established: a critical approach to received or established views, and the appeal to reason and argumentation. [pic] [pic] St. Thomas Aquinas [edit] Medieval philosophyRead MoreOrganizational Behaviour Analysis28615 Words   |  115 PagesORGANISATIONAL ANALYSIS: Notes and essays for the workshop to be held on 15th - 16th Novemeber 2007 at The Marriot Hotel Slough Berkshire SL3 8PT Dr. Lesley Prince, C.Psychol., AFBPsS University of Birmingham November 2007  © Dr. Lesley Prince 2007. Organisational Analysis: Notes and Essays Page i Page ii Please do not attempt to eat these notes. CONTENTS Introduction to the Workshop Topics And Themes The Nature and Scope of Organisation Theory Levels of Analysis The MetaphoricalRead MoreTorts study notes Essay17110 Words   |  69 Pagesunappreciative of the actual content of Calabresi’s analysis. In 1971 and 1972, Posner published his own first torts articles.37 Interpreting the negligence concept in light of Judge Hand’s formula, the 1972 article set forth and elaborated on Posner’s view that tort doctrines one-by-one are generally impressive in the economic logic they contain.38 Posner, then, was the first to explain and commend the common law of personal injury torts in the terms of economic analysis.39 He has in turn been followed by wavesRead MoreExistentialism vs Essentialism23287 Words   |  94 Pagesas a free amp; responsible agent, determining their own development through acts of the will. Existentialism * is a philosophical term which posits that individuals create the meaning and essence of their lives. Existentialism asserts that â€Å"existence precedes essence,† which is in opposition to the classical doctrine that â€Å"essence precedes existence.† The claim â€Å"existence precedes essence† is a rejection of the idea that human nature has an end or goal. In this sense, humans are free to

Homer s The Odyssey And Virgil s ÂŹ The Aeneid - 1295 Words

Homer’s The Odyssey and Virgil’s  ¬The Aeneid are both epic poems chronicling the travels and trials of their respective heroes. Though both stories deal with the fates of their leading men, Homer employs the use of hubris with his protagonist, Odysseus, while Virgil utilizes the trait of pietas with his protagonist, Aeneas. A comparative analysis of the heroes in their reactions to the mythical creatures they encounter, their relationships with the women they love, and their ultimate purposes in seeking passage to the underworld demonstrate the differences in their fatal character flaws. In both The Odyssey and The Aeneid, the heroes are on separate journeys to ultimately find their home. Odysseus is returning after a long war, while Aeneas is seeking to establish Rome. Along the way, both men engage in various battles, but their responses to the conflicts they face show a clear separation in the way these great men think and behave. Odysseus is a head-strong, nearly reckless leader whose excessive pride, or hubris, gets his men involved in many scrapes that cost valuable lives. Such is the case in Odysseus’ dealings with Polyphemus, the Cyclops. His men insist that they load animals aboard the ship and flee to safety, away from the land of giants (Homer 9.241-246). Instead of following the advice of his crewmen, Odysseus admits, â€Å"Ah, / how sound that was! Yet I refused. I wished / to see the caveman, what he had to offer –† (9.247-249). Even though he knows that setting

Britain Euro reivised Free Essays

This paper looks at the definition euro, its origin, implications and reasons why it Britain should join it or not. There are benefits of Britain will gain by joining the euro rather greater than staying away. These include improved living standards, access to larger market, stabilization of prices, minimization of exchange risks and business risks, reduction of effect of investment loss and influence in the European Union. We will write a custom essay sample on Britain Euro reivised or any similar topic only for you Order Now On the hand joining the euro may bring about difficulty in integrating to single currency, low flexibility in labor and migration movement as well as financial burden to be incurred when joining the euro. Thus it is better to join than to avoid. THE EURO AND BRITAIN The euro is the official name of the single currency which became operational from January 1, 1999. Then it became the official currency for thirteen countries in Europe referred as Euro zone or Euro Area. The name â€Å"euro† was adopted in December 1995 at the European Union Council of Ministers meeting in Madrid. The symbol for the euro was derived from the Greek letter epsilon. First letter E refers to Europe while Greece represents the origin of European civilization. The horizontal parallel lines in the euro symbol stands for stability. Banks started depositing cash in Euro currencies that is the euro time deposits of cash held outside the country of its origin in a banking system (Banking glossary 2006; European economic monetary union, 2008 The introduction of the euro is of great significance to Europe because since the collapse of the Roman Empire there has been no common currency in Europe, trade with different currencies was difficult and travelers had additional fees when exchanging the currencies. There was a risk to the investors because there was unexpected profit that can turn into loss if the exchange rate fluctuated. Hence, the need for a common currency which will facilitate trade in Europe (Mitropolitski, 2003) Common currency makes EU foreign investors reduce risks for their investments. The market enlarges and the regional price imbalances are rectified. Consumers will have common currency to measure the different goods and services and the people from the Euro area feel closer and build a common identity. They have demonstrated that people can come together without foreign influence. The Euro is then counterweight to the US dollar in foreign exchange (Mitropolitski, 2003) The history of producing European currency as a financial pillar of EU is quite recent. In the Treaty of Rome (1957) that was the foundation of EU did not mention common currency. But subsequent Acts of 1986 and 1992 became the foundation of a single currency. From January 1, 1999 the Euro was introduced (Mitropolitski, 2003) The implication of changing to Euro is diverse as the benefits of joining it. By having a single currency, the European Economic Monetary Union (EMU) members aim at promoting a single European market, similar in the size to that of US market. By combing these countries like Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain under one European market the economy is capable of growing at a faster rate. This means increased job opportunities and a higher standard of living. Bowman 1999 The nationals in the countries had to shift their loyalties to the euro. Since people are usually emotionally attached to their money and feelings of nationalism being involved this would differ from country to country in varying degrees (Bowman, 1999) The businesses will have noticeable changes to the way they will conduct their business such that there should be transparent prices. Consumers will have easy choice to compare prices in different countries and businesses which used to exploit the difference in currency values through price discrimination will have to contend pricing in euros. Businesses will have to restructure their pricing policies for a much wider markets (Bowman 1999). The euro will accelerate business efficiency; company costs will be reduced, consumers will enjoy low and stable price. Individual countries made specific adjustment in order to benefit e. g. adjusting their expenditure and taxes. Germany had to take economic measures by limiting their fiscal stimulatory policy when economic growth was slow while unemployment rate increased. These measures were taken in order to harmonize their economies and make it less risky to function under one currency (Bowman 1999). There were complex logistical problems which Europeans had to overcome in adjusting to the euro such as the financial institutions had to change their systems and train staff. Prices had to be adjusted in euros when national currencies were still circulating for three more years after introduction of virtual currencies. Parking meters, vending and cash machines had to be converted for the introduction of euro notes and coins (Bowman 1999). Other service sectors had changed their system operations e. g. Mail services printed new stamps and revenue collection and payment done new tax forms as well as in advertisement campaigns. However, it took more time before consumers and businesses had completely adjusted following their countries giving out authority on the exchange rate and monetary policies under one currency (Bowman 1999) For US companies doing business in Europe, the shift to euros brought many changes i. e. Business operation became easier and cost-effective, especially those with branches in Europe. They now have a larger market, consumers and customers billed in dollars were least affected by the change but as the euro’s role grows internationally, pressure may be put on US companies to start pricing in euros. Then they would have to start absorbing the exchange rate costs and risks that their customers had experienced. Although doing business in Europe by American companies’ became easier competition increased as well (Bowman 1999). There are arguments for and against Britain joining the euro. We will first look at the reasons why the British should join. This is because in 1956 Britain failed to join the European Common Market and its economy failed to grow compared to other countries like France and Germany. When it later joined in 1973 the economy grew but did not close the gap between the Britain and those which entered earlier. The benefit of Britain joining the European market through the euro will be largely affected by the access in which it will enjoy of having large market and large economies of scale. In this case trade barriers are eliminated. The products of British companies will be able to reach a wide selection of clientele and operate in large scale. This will contribute to producing goods more efficiently as seen in United States. The companies will restructure and merge in order to benefit from single market and single currency. The large market will also make it easier for medium sized companies to get cheaper intermediate goods and raw materials from a wide range of suppliers (Layard et al. , 2002). Although Britain joined the free trade market it really did not make a single market because of different currencies used by those countries. Hence, prices of goods varied considerably between and within countries. For example, United Sates and Canada have a common language and culture but they have different currencies. Prices of goods vary significantly in US and Canada than between provinces in Canada. This makes the markets of these two countries significantly different mainly due to currencies (Layard et al. , 2002). When Britain joins the single currency market its nationals and companies will enjoy wide variety of goods and services at cheaper value. The living standards of consumers will improve. For an economy to grow of such nature like that of Britain there is need of single currency. This is because Britain has high tradable sector to European market. The single currency will have great effect on its economy. For example, before the introduction of euro in 1999, in the previous year, Britain had high percentage trading between countries of Euro Area. However, after the other counties joined the trade exchange of Britain decreased by -1% between 1998 and 2001 while those of countries in the Euro Area increased by 20%. See the table below (Layard et al. , 2002). Single currency is quite significant in trade and productivity because it leads to absence in currency fluctuation. Companies are able to restructure their systems so that they can achieve maximum efficiency and improve their productivity. Also single currency will ensure there is price transparency. Companies will have to change the price of their goods across all countries which may be relatively stable. Otherwise customers of business and consumers will cross the border for buying and shopping their merchandise. This will result in public outcry and a response will be inevitable. Thus, it will stimulate productivity of companies (Layard et al. , 2002). In joining the euro, capital market integration will occur and barriers between capital markets will breakdown. This is different from where previously companies within individual countries will hold their assets and liquidity in the same currency. But with the introduction of euro companies can invest across EU countries which will definitely stimulate productivity (Layard et al. , 2002). The floating pound poses a disadvantage to British companies since the pound will fluctuate against the euro. This will make businesses lose profit and may later degenerate into bankruptcy. Their profitability will fluctuate with fluctuation of exchange rate thereby increasing business risk for exporters and importers. The companies cannot insure their companies against such risks in case they would want to invest in other EU countries where there is uncertainty in quantities and prices of goods to be sold. Therefore British companies will have to sell its goods in euro rather than in pounds (Layard et al. , 2002). The uncertainty in exchange rate deters the formation of unified market and investment. This is because of arbitrary fluctuation of exchange rates over a period of time against the allowable adjustment margin. This brings about economic shock where the independent exchange rate cannot offset. The dysfunctional movement of exchange rate will impact negatively on the economy because of large tradable sector compared to a large economy (Layard et al. , 2002). The disadvantage of floating exchange rate may escalate making it unattractive of which it will continue to do so as a result of capital markets being integrated and more liquid. Optimal currency size is a reflection of balance between the benefit of independent interest rates and exchange rates in economic adjustment. But the danger lies in the flexibility of exchange rate which may induce economic shock or the larger financial markets integrating and becoming more liquid (Layard et al. , 2002). Britain has to join the euro because it trades more with it than any other country in the world. For example it trades three times more than in USA which is the second largest trading partner. See the table below showing trading shares in percentage for year 2000 It also necessary for Britain to join because of the currency for which goods and services traded is invoiced. For instance 44% are invoiced in pounds, 32% in US dollars and 20% in euros. Therefore to minimize exchange rate risks it will be important to join the euro rather than the dollar (Layard et al. , 2002). Britain stands to lose it investment from foreign investors who not only target sales in Britain but also Euro zone. Most companies will want to avoid currency risk associated with exchange rate e. g. Toyota and Nissan companies have intended to relocate to Euro area. The risk of London as a hub of business transaction associated with its dominance in bonds, mergers and acquisition will be experienced if they do not join because the European Central Bank located in Frankfurt in which Finance ministers from Euro countries make decision that affect the whole of EU members can do so in their favor (Layard et al. , 2002). Britain also stands to lose its influence in European economic decisions if it opts to stay out of the euro. This is because they view US influence to EU through Britain will be lost. But the fact remains that they can only influence more when they are inside than out. Layard et al (2002) explains a number of reasons for not joining the euro. These are; by joining euro, Britain will not fit well since its economy is more related to US than the rest of Europe. The single currency will require enormous European budget. The labor market will respond differently than the present because it will be less flexible and migration will be lower. Britain will lose the economic importance of exporting oil to European market. The euro will link Britain to a failing economy because it will be surpassed by other countries. The tax policy of Britain will be altered and that the British financial system is different from the rest of Europe hence making single currency policy difficult. Lastly, Europe’s pension liabilities which are unfunded will be borne by Britain is unnecessary. CONCLUSION The above discussion gives elaborate reasons for which Britain will have to join rather than avoid. Since the world economy is going through transformation, the European Union economy has great impact to Britain economy. So it will be of best interest for Britain to join the euro. REFERENCES Banking glossary. Definition. 2006. 16 April 2008 http://www. bankingglossary. net/definition/347-Euro_Currencies Banking glossary. Euro currencies. 2006. 16 April 2008 http://www. google. co. ke/search? hl=endefl=enq=define:The+eurosa=Xoi=glossary_definitionct=title Bowman, Jennifer J. Economic Implications. Ed. 1999. Western Pennsylvania International Business Newsletter. 16 April 2008 http://www. pitt. edu/~ibcmod/newsletter/Spring99/economic. html European economic monetary union. Euro. 2008. 16 April 2008 http://www. unc. edu/depts/europe/conferences/eu/Pages/emu9. htm Layard, Richard et al. Britain should join. 1 August 2002. 16 April 2008 http://cep. lse. ac. uk/layard/RL334D. pdf Miltropolistski, Simeon. Euro is important. 26 July 2003. IRED. 16 April 2008 http://www. ired. com/news/mkt/euro. htm How to cite Britain Euro reivised, Papers

Emmigration free essay sample

Migration is not just a chronicle of sorrow and regret. It is also a powerful story of contribution and adaptation. Migration is the movement of people from one place to another for the purpose of taking up permanent or semi-permanent residency. (National Geographic, 2005). Migration can be international or internal. The most popular form of migration is international. Push and pull factors occur which cause people to migrate and to decide on what location to migrate to. Migration also occurs for study, travel and employment. This statement by Mary Robinson proves that migration is not only a negative thing but a positive one too. The Great Famine which occured in Ireland in the 1800s was a starting point for migration in Ireland it caused 1. 3 million to emigrate overseas (O Grada, 1989), with 70% migrating to the U. S. A creating many cultural links. Migrants bring with them new ideas, skills and innovations which allow the host regions to develop and enhance with such diversity (Embrace NI, 2013). We will write a custom essay sample on Emmigration or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This is the powerful story of contribution and adaptation. According to Douglas Carroll interviewee, with a lot of Irish families living in New York already and with many of those with Irish ancestors, it wasnt as difficult as expected to settle in with 80 million people worldwide claiming to Irish ancestry (Fitzgerald, 2013), shows that in many cases migration was not just a chronicle of sorrow and regret. As well as the cultural aspect, the host region also developes in other ways, with the migrant becoming a tax payer of that country there are economic benefits seen with migration too. Economic growth of a country is often linked to the population growth in that country. (Dolado, 1994) As well as this thousands of migrants often contribute to the home country also by sending home remittances. On the sorrow and regret side many host countrys dont provide innitiative for natives as there is plenty of immigrants willing to work for lower pay. This means that in some cases immigrants may be portrayed as job stealers where there is a small negative effect on native wages, mostly among unskilled workers as immigrant wages take lower pay grades therefore putting the native somewhat, out of a job. Borjas,2009) The movement of migrants allow different skills and ideas to travel contributing to regions around the world. Bibliography National Geographic (2005) Human Migration Guide. Available at: http://www. nationalgeographic. com/xpeditions/lessons/09/g68/migrationguidestudent. pdf Embrace NI (2013) The Pros and Cons of Migration Available at: http://www. embraceni. org/mig ration/the-pros-and-cons-of-migration/ Rory Fitzgerald (2013) Defining Irish Identity. Available at: http://irishcatholic. imediarevenue. com/20130321/familylife/defining-irish-identity-S31584 Douglas Carroll (2013) Migration Interviewee Juan Dolado (1994) Immigration, Human Captial and Growth in the Host Country. Journal of Population Economics. Available at: http://link. springer. com/article/10. 1007/BF00173619 George Borjas (2009) Human Migration, Issue 7. Available at: http://worldsavvy. org/monitor/index. php? option=com_contentview=articleid=427Itemid=814 Appendix: Migration Interview Name: Douglas Carroll Nationality:Irish Occupation: Carpenter Age: 41 Douglas who is my fathers older brother was born in Drogheda, Co. Louth, emmigrated to America for work in 1996. So Douglas, why did you decide to emmigrate? Well, I had always wanted to see America and at the time i just felt like it was the right time to go. After working for a few years I had experience and New York was calling my name. When did you leave? I left in 1996 when I was 24. Sick of the same scenery I wanted change and to meet new people. I went with two of my friends and never looked back. What was it like when you first got there, finding a job and making new friends etc? It was quite easy to get a job over there as a craftsman the demand was high, my friends and I all got jobs together and worked there for 4 years. And on the making friends part it wasnt difficult at all with a lot of Irish families living in New York already and with many of those with Irish ancestors, it wasnt as difficult as expected to settle in. Were you treated much differently? Not really, like I said New York has a huge Irish Community, I joined lots of clubs. The accent though was a real fly catcher, the Yanks love the Irish accent thats how I met my wife and now Ive a family. Have you been home since? Ive been home twice. I would like to visit more but its quite expensive and hard to get time off work. Ireland is of course still home and at least one member of my family comes to visit nearly every year! When you were home did you notice differences? Well things here are not that different although life in New York is very fast, upbeat and more outgoing than life in Ireland. The weather here is also very different, extreme cold in the Winter but beaches in Summer time are great. Would you ever consider coming back? Not at the moment but I would love my kids to experience Ireland like I did but its not the same country anymore. New York with my family is home. For now. Thanks very much Uncle Douglas.