"Keynesian policies are incompatible with price stability" "Monetarist's policies are incompatible with full employment". Discuss the validity of these two statements.
"Keynesian policies are incompatible with price stability" "Monetarist's policies are incompatible with full employment". Discuss the validity of these two statements Every school of thought is like a man who has talked to himself for a hundred years and is delighted with his own mind, however stupid it may be. (J.W. Goethe, 1817, Principles of Natural Science) Keynesian policies are incompatible with price stability. How? * Markets need help to clear o The economy can be at equilibrium at many different times, not just at full employment * When inflation increases, tighter monetary policy may be used to cool it off, which will weaken AD? Is this contrary to Keynesian belief? * Keynesian economics is a theory of total spending [AD] in the economy and its effects on output and employment o AD is influenced by public & private economic decisions, which are determined by political outcomes/economic objectives or consumer/producer expectations o Some Keynesians believe in debt neutrality, which contrarily purports that consumers use rational expectations and will assume low taxes as a long-run liability and save accordingly. * Believe AD has its greatest impact in the short run on output and employment, not on prices o Phillips curve * Demand side policies alone cannot succeed completely * There will always be unwanted inflation and unemployment o Inflation
"Leadership is defined as the use of non-coercive influence to shape the organizational goals, motivate behavior toward the achievement of those goals and help define group or organization culture."
"Leadership is defined as the use of non-coercive influence to shape the organizational goals, motivate behavior toward the achievement of those goals and help define group or organization culture." I. Introduction The objective of this case study is to identify: * Leadership theories and concepts that have contributed to Herb Kelleher's success at Southwest. * If Herb Kelleher a manager, a leader or both and why? * Leadership qualities should southwest look for in a person who will succeed Herb Kelleher. About Southwest Airlines: Mission: The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit. Leadership: Jim Parker - Vice Chairman of the Board and CEO Colleen Barrett - President, Chief Operating Officer, and Corporate Secretary Herbert (Herb) D. Kelleher - Chairman of the Board and Chairman of the Executive Committee of Southwest Airlines. About the Company: The airline began service June 18, 1971 with flights to Houston, Dallas, and San Antonio. Since May 2003 (through August 2003 - the latest data available) Southwest has been the number one carrier in terms of domestic boardings. Yearend results for 2003 marked Southwest's 31st consecutive year of profitability. Southwest became a major airline in 1989 when it exceeded the billion-dollar
"Learning through real work is sufficient to produce a manager fully capable of managing effectively in the modern business environment".
Introduction When the low rate of management training provision by small firms was highlighted at an industry group meeting of small business owner-managers, one owner-manager of a successful firm responded that "Learning through real work is sufficient to produce a manager fully capable of managing effectively in the modern business environment". Learning is often taken for granted in organizations. New ways of working, new equipment and technology are frequently introduced without planning either for the learning or the training needs of workers; typically there is an assumption that people will 'pick it up' as they go along. And of course this does happen. The informal learning that Reid and Barrington (1997) talk about in Training Interventions is a daily, ongoing occurrence. It can happen by: Trial and error The person does something, which may or may not work and eventually the person works out a way that seems to get the job done. Reinforcement The person gets feedback from their boss when they do something that either shows the that this was appropriate or not. They will learn to do the same again or avoid the things that cause reprimand. Experience The person carries out a task and afterwards thinks about what they have done, perhaps realizing they could do it differently or better. They work out a plan to try out the next time. Whatever the method, we see
"The Burewala Textile Mills Limited ".
I ntroduction and Background: Punjab Government set up Burewala Textile mills limited at Burewala with 51200 spindles. A company under the same name and style "The Burewala Textile Mills Limited " was incorporated in the same year to acquire the mills from the Punjab government. The company started with authorized capital of the Authorized Capital of Rupees 33.5 million and a paid-up Capital of Rupees 15.00 million. The company was taken over by Dawood Group in 1957 and production facilities were expanded by installation of 1036 looms and a most modern cotton Ginning Factory. At present the company has an installed capacity of 62912 spindles and 312 looms in its textile division with annual production capacity of 15.542 million Kds of cotton yarn of an average count of 20s and 11.828 million meters of cloth of an average 50 picks per inch respectively while Ginning factory has annual capacity to gin 144000 bales of cotton. The company is well known for the quality of its products in local as well as foreign markets. The previous policy of producing coarse and medium varieties has been changed and the company is now concentrating on production of super class counts (unto to 120s) of yarn and high value added Fabrics. BTML undertook implementation of ISO 9000 in September 1996 and has recently been awarded ISO 9002 certification, which will help in boosting the export of
Long Term Capital Management (LTCM).
Long Term Capital Management (LTCM) was a first in the financial world; as such organisations dealing with hedge funds had never reached such immense proportions. At its birth and early life, LTCM was like a jewel in the crown for those who were seeking to gain large returns. However, through uncharted waters, LTCM was on a maiden journey. Hedge funds are characteristically structured as foreign limited partnerships to provide pass-through tax treatment of investor earnings. Organized abroad, hedge funds avoid U.S. taxation of the earnings of foreign investors. LTCM built its portfolio on sophisticated arbitrage trading strategies. In addition, LTCM used a significant degree of leverage to increase its expected returns. Whist LTCM used a wide variety of trading strategies, one of the simpler strategies employed was one in which it sorted treasury bond futures while taking long positions on higher yielding and higher risk mortgage backed or corporate debt securities. The strategy- known as buying a credit spread, can generate profit as long as the difference in the yields of the two types of instruments remains stable or declines. Since July 1998, with mounting financial problems in Russia and other emerging markets, sovereign bond prices had steadily risen as investors had engaged in a "flight to quality" from higher, riskier debt instruments (such as emerging market
Procedures For Obtaining Licensing For A New Drug
Procedures For Obtaining Licensing For A New Drug When a new drug is discovered there is a very complex and drawn out process that must be carried out ion order to obtain manufacturing and product licences. In the interest of public safety, the guidelines that are set out are extremely rigid and must be strictly adhered to. Safety, Quality & Efficacy The first issue to be dealt with is the quality, safety and efficacy of the drug in question. The quality is very important where particular significance is put on product purity. Since the drug will eventually be administered to humans the nature of all impurities must be investigated and the effects of such impurities. The choice of excipient must also be carefully considered. At this point, the manufacturing procedure should be decided. It is recommended that a procedure is used that will produce a product of the desired quality, that also exhibits batch uniformity and adherence to the specifications that are set out by the regulatory authorities. These include the European Medicines Evaluation Agency (EMEA) and the Committee on Safety of Medicines (CSM). Safety issues are taken extremely seriously and it is a prerequisite that safety must be more than just freedom from hazard. Safety encompasses all long-term effects of the product and involves being able to foresee all possible problems before they arise. Medicine has
Process control at Polaroid.
PROCESS CONTROL AT POLAROID (A) SITUATIONAL ANALYSIS Project Greenlight: Polaroid's R2 factory at Waltham, Massachusetts manufactures integral film. Project Greenlight, an initiative to make quality control process more effective, has been introduced at the R2 building of Polaroid during the first six months of 1985. The Project aims to reduce quality-monitoring costs while maintaining or even improving upon the present level of product quality. The conceptualizers of the Project, George Murray and Joe O Leary, hoped to devise a method to make quality control process more effective, beyond merely reducing the number of samples taken. Project Greenlight had three key elements. * Statistical process control principles would be adopted: processes in control and capable of producing within specifications would produce more consistent quality. * Production operators would be given the process control tools that the process-engineering technicians had been using and, in conjunction with sampling, would be expected to make disposition decisions themselves. * Quality control auditors would concentrate on training operators and operationalizing specifications on new products. Project Greenlight is an effort to shift the film production plant from a traditional Quality Control inspection mentality to a worker based process control mentality. Responsibility for quality
MArketing plan for tata motors
INTRODUCTION Global marketing offers a way for companies of all sizes to grow by expanding their customer base beyond the domestic market. However the complexities of global marketing, demand careful planning and proper implementation. Tata Motors will plan to launch its Rs.0.1 million (USD $2,300) small car, dubbed the people's car (X1) would be introduced in the Indian Market by 2008. Tata's new small car would be exported to other developing countries after observing the car's success in India. This study has been conducted to gain knowledge about the potential strength of Tata's X1 car to foreign countries. The demand scenario, domestic car industry and the present and possible role of India was analyzed in case of South Africa. Expansion strategy in market like South Africa, Tata' invests in nations where there is a need for company's existing products or the market is too small to interest other multinationals. The company's tremendous record of south-south investments is impressive. In African countries in particular, the striking characteristic of this successful company's presence is not only that it is long-standing but that it emphasizes social responsibility just as much as growth. COMPANY BACKGROUND Tata Motors Ltd is the largest commercial vehicle manufacturer in India and one of the top three players in the passenger vehicles segment. It was established
The financial performance of The Body Shop (TBS) was less than stellar last year. In 2002 it only made 5.4£m in profit and if they paid dividends they were in the red, but they appear to have gained financially so far in 2003.
Introduction The financial performance of The Body Shop (TBS) was less than stellar last year. In 2002 it only made 5.4£m in profit and if they paid dividends they were in the red, but they appear to have gained financially so far in 2003. (The Body Shop 2003:34) This report will explain the key market strengths of (TBS), and how the organization may take advantage of these strengths by concentrating on them and turning them into opportunities to improve financial performance and generally strengthen TBS's business. Because of the need for financial improvements, this report will concentrate on certain areas of the marking mix and the directions we believe the company should take in these areas. Recommendations will be both quantitative and qualitative. Some will have immediate financial rewards, while others will provide a long-term marketing strategy with emphasis on gaining market share which will improve long-term financial performance Body - Choice We chose segmentation targeting, positioning (STP) (see glossary) because they are strengths of (TBS) and play a critical role in the short and long-term financial position of (TBS). Since (STP) is the base of marketing and all its elements are interrelated, if any element fails the business will fail. Having survived for 27 years (Methven: 2003) clearly (TBS) did STP correctly and should capitalize on them. TBS is
Operational strategy in business.
INTRODUCTION The New Oxford Dictionary of English second edition published in 2003 states: Operational means: relating to the routine functioning and activities of an organisation. The same dictionary also states: Strategy means; a plan of action designed to achieve a long-term or overall aim: strategic planning for the organisation is the responsibility of top management. There are three levels of Strategy: > Corporate > Business > Operational Whatever the context, strategy is concerned with long-term goals and objectives, determining the business we want to be in, the character of the organisation, and building sustainable competitive advantage because that is the key to strategic success. We also need to be aware that the culture, leadership, and symbolic and political processes make implementing strategy or changing strategy problematic. This assignment will only be looking at strategy in the operational context. The assignment will look at different definitions of operational strategy and then show how my organisation, TD Travel Group, could apply strategy in organising a new operational system. TD Travel Group is a travel company that consists of TD Travel Management specialising in business travel, TD Special Events for any group, conference and incentive requirements, TD Roomfinder for all UK and Worldwide hotel accommodation and TD Holiday Options
