• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Professional Skills.

Extracts from this document...

Introduction

Professional Skills Essay The business and political changes that have occurred since September 2002 has had various degrees desirable and undesirable impacts on the many aspects of the economy, such as consumers, producers, MPs, environment, health and different industrial sectors. The changes are likely to have continuing effects into the next year and probably even longer Interest rates and Exchange rates The changes in the interest rates in some of the major world economies, for instance Japan and USA, have had staggering impacts. The US economy has been seriously underachieving in terms of output and employment, which is why it has such a large balance of trade deficit. The Federal Reserve has therefore lowered its interest rate to help stimulate investment, trade and employment. However this tactic has not proven to help because of the general sluggish economic situation the world is in. The low exchange rate is supposed to increase the amount of foreign export but the exchange rate of Japan (main importers of US products) has also been falling. The lack of confidence in the Japanese governments economic decisions and falling interest rates has been a key reason for this. According to the theory of the International Fisher effect, falling interest rates will eventually lead to increases in exchange rates in the future. Therefore we can expect them to rise. The main effect of this is that the rest of the global economy will suffer, as the two major economies aren't performing. ...read more.

Middle

However, since September 2002 the emphasis has been on the disarming of Saddam Hussein from weapons of mass destruction, another aspect of the war against terrorism. The significance of such a war has lead to a lot of controversy, but the main idea was that it must be stopped for world peace. From a political point of view, the governments of the US and UK are having to pour a lot of their funds into planning and carrying out the campaign. This lead to them reducing their attention domestic issues, as a result, the opposing political parties used this as an argument that they current government is not good. Also, failure to accomplish their targets (i.e. Bin Laden is not found yet) further depopularises their reign as leaders. More focus on the prime ministers act against terrorism affects the well being of the public, i.e. the level of street crime in Britain has increases over the past year. From a business perspective, there were fewer flights because people were in fear of a highjacking. Also, prices would be reduced (so would profit) to attract people to fly and so the growth of airlines would decline. This is evident from American Airline's underperformance. Not only have they been making losses since the September 11th attack, they have also been on the verge of being taken over by other airlines. The falling share prices had put the chairman's job on the edge. ...read more.

Conclusion

Plenty of gaps in the system have already been found, for example there have been a number of cases when crooks have used forged number plates to enter the city and then not pay the fee. This means that the number plates that the camera spots in fact belong to a completely different driver who is then wrongfully accused for dodging to pay the fee. For a year of two, these frailties in the system will be spotted but then hopefully they would be corrected. Extended death sentences The decision to extend death sentences was proven to be favourable by he British public according to the informal poll carried out by the BBC website. This is because of the obvious reason that the public want to keep murderers locked up in prison longer and to also make murderers think twice before they actually kill someone. However, those who argued against this said that it would not give the murderers enough time to be better citizens when they are released. The affect this would have for the next year is that the amount of planned murders to fall but the amount of unintentional murders (i.e. when a drunk person murders someone) to fall at a slower rate. In conclusion, we can say that the business and political changes that have occurred will undoubtedly have affects that will stem into the long and short-term future. The intentional results will also be accompanied by adverse side effects that will have to be endured. Amit Sodha BIF 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. The structure of the airline industry.

    which is the level that is thought to lead to rising inflation. Reasonable rates of growth in the money supply have also helped to curb excessive inflation. A strong U.S. dollar during this period led to importation of cheap goods from other countries, which discouraged inflation.

  2. Changes in the business environment and their impacts on business strategies.

    The development of Computer-aided design (CAD) and Computer-aided manufacture (CAM) has enabled even faster development of other products and processes. This rapid rate of change creates both threats and opportunities for firms. The metal industry has been hit hard, weighing machines, typewriters; cash registers have all been replaced by CAD terminals.

  1. Retailing In India - A Government Policy Perspective

    Again, we saw examples of MNCs benefiting from local knowledge through employment of local managers and supervisors particularly on the customer service segments of Indian BPO. We found broad variance in the specific management approaches, as we do among high-performing companies within any developed economy, and did not find a correlation between, say, level of de-centralization and MNC performance.

  2. An Empirical Investigation into the Causes and Effects of Liquidity in Emerging

    The largest exporters of the commodity are Venezuela, Russia, Mexico and Indonesia. Similarly, many EMEs are big oil importers, such as China, Brazil and Korea. This means that any changes in oil price could also have significant consequences on their fiscal positions, potentially leading to changes in their external debt liquidity.

  1. Non-interventionism in Hong Kong

    of ruler ship, shifting political powers and social expectations, as well as changes in the internal and external environments of the economy. Evidence of such new policy departures in the new post-colonist state can be found most notably in the areas of housing, education and industrial development.

  2. The airline industry

    BA operates under a differentiation strategy (Johnson and Scholes, 2002) where it achieves its competitive advantage by providing a distinctive and unique service based on quality, reliability and efficiency- dimensions widely valued by customers (BA Fact book, 2002). Figure 2.1: British Airway's position within the strategic clock (Source: Adapted from Bowman (1995)

  1. CAPM and its significance

    Written in Principles of Corporate Finance (Brealey and Myers, 2003), 'since borrowing is merely negative lending, you can extend the range of possibilities to the right of 'T' by borrowing funds at an interest rate of rf and investing them as well as your own money in portfolio'.

  2. The un-utopian issue

    to re-allocate the unemployed workers this policy could work and reduce scarcity. d) Sometimes planned economies resort to rationing, especially if the country is at war. The most commonly used system is the rationing coupons. By doing this, the government can easily estimate the amount needed and the amount that each person gets.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work