Asian Crisis Essay Research Paper Introduction A free essay sample

Asiatic Crisis Essay, Research Paper Introduction A fiscal crisis swept like a shrub fire through the? tiger economic systems? of South East Asia between June 1997 and January 1998. One state after another, local stocks markets and currency imploded. When the dust started to settle, the stock markets in many of these states had lost over 70 % of their value. Leaderships of some these states had to near the International Monetary Fund ( IMF ) to implore for monolithic fiscal aid. The crisis in Asia has occurred after several decennaries of outstanding economic public presentation and growing. Annual Gross Domestic Product ( GDP ) growing in the ASEAN- 5 ( Thailand, Malaysia, Singapore, Indonesia and Philippines ) averaged closed to 8 % in the last decennary. Per capital income degrees besides had increased tenfold in Korea, fivefold in Thailand and fourfold in Malaysia. Furthermore, per capital income degrees in Hong Kong and Singapore now exceed those in some industrial states. Although there were of import differences between the single states, a figure of elements were common to most. We will write a custom essay sample on Asian Crisis Essay Research Paper Introduction A or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Export had long been the engine of economic growing in these states. A combination of cheap and comparatively good educated labor, export orientated economic systems, falling barriers to international trades, heavy investing by foreign companies, had combined during the old one-fourth of the century to transform many Asiatic provinces into export human dynamos. The nature of these exports had besides shifted in recent old ages from basic stuffs and merchandises such as fabrics to complex and progressively high engineering merchandises, such as cars, semi-conductors and consumer electronics. Beginning of the crisis The wealth created by the export-led growing helped to fuel an investing roar in commercial and residential belongings, industrial assets and substructure. The value of commercial and residential existent estate in metropoliss such as Hong Kong and Bangkok started to surge. This started a edifice roar all around the part. Heavy adoption from the Bankss financed much of this building. As for industrial assets, the continued success of Asiatic exporters encouraged them to do even bolder investings. This was exemplified most clearly by South Korea? s giant diversified pudding stones, or chaebol, many of which were encouraged by the authorities. But the chaebol ever rely on heavy adoptions, built up a monolithic debts that were tantamount, on norm, four times their equity. As might be expected, as the volume of investings ballooned during the 1990s, frequently at the bequest of national authoritiess, the quality of many of these investings declined significantly. All excessively frequently, the investing is based on unrealistic projection of the future demand conditions. The consequence was the outgrowth of important extra capacity. A good illustration was the investings made by Korean chaebol in semiconducting material mills. Investings in such installations surged in 1994 and 1995 when a impermanent planetary deficit of Dynamic Random Access Memory french friess ( DRAMs ) led to crisp monetary value additions for this merchandise. However, by 1996 supply deficits had disappeared and extra capacity was get downing to do itself felt, merely as the Koreans started to convey new DRAM mills on watercourse. The consequences were predictable ; monetary values for DRAMs plunged through the floor and the net incomes of Korean DRAM makers fell by 90 % , which meant it was highly hard for them to do scheduled payments on the debt they had taken on to construct the excess capacity in the first topographic point. In another illustration, a edifice roar in Thailand resulted in the outgrowth of extra capacity in residential and commercial belongings. By early 1997 it was estimated that there were 365,000 apartment units unoccupied in Bangkok. With another 100,000 units scheduled to be completed in 1997, it was clear that old ages of extra demand in the Thai belongings market had been replaced by extra supply. By one estimation, by 1997 Bangkok? s edifice roar had produced plenty extra infinite to run into its residential and commercial demand for at least five old ages. The Debt Bomb By early 1997 what was go oning in the Korean semiconducting material industry and the Bangkok belongings market was being played out elsewhere in the part. Massive investings in industrial assets and belongings had created a state of affairs of extra capacity and plunging monetary values, while go forthing the companies that had made the investings moaning under immense debt burdens that they were now happening hard to service. The brand affairs worse, much of the adoption to fund these investings had been in US dollars, as opposed to local currencies. At the clip this had seemed like a smart move. Throughout the part local currencies were pegged to the dollar, and involvement rates on dollar adoptions were by and large lower than rates on adoptions in domestic currency. However, if the authoritiess in the part could non keep the dollar nog and their currencies started to deprecate against the dollar, this would increase the size of the debt load that local companies would hold to service, when measured in the local currency. Currency depreciation, in other words, would raise adoption costs and could ensue in companies defaulting on their debt payments. At the same clip, it makes the exports more expensive and less competitory on the universe markets. Reflecting turning imports, many SE Asian states saw the current history of their Balance of Payments switch strongly into the ruddy during the mid 1990s. By 1995 Indonesia was running a current history shortage that was tantamount to 3.5 % of its Gross Domestic Product ( GDP ) , Malaysia? s was 5.9 % , and Thailand? s was 8.1 % . With shortages like these get downing to stack up, it was going progressively hard for the authoritiess of these states to keep the nog of their currencies against the US dollar. If that nog could non be held, the local currency value of dollar dominated debt would increase, originating the apparition of large-scale default on debt service payments. The scene was now set for a potentially rapid economic meltdown. Meltdown in Thailand The Asian meltdown began on February 5th, 1997 in Thailand. That was the day of the month that Somprasong land, a Thai belongings developer, announced that it had failed to do a scheduled $ 3.1 million involvement payment on an $ 80 billion Eurobond loan, efficaciously come ining into defaulting. Somprasong Land was the first victim of bad overbuilding in the Bangkok belongings market. The stock market fell another 2.7 % on the intelligence, but it was merely the beginning. Following Somprasong destiny is Finance One, the state? s largest fiscal establishment. On July 2nd, 1997, the Thai authorities bowed to the inevitable and announced that they would let the tical to drift freely against the dollar. The tical instantly lost 18 % of its value, and started a slide that would convey the exchange rate down to $ 1=Bt55 by January 1988. As the tical declined, so the Thai debt bomb exploded. On July 28th the Thai authorities took the following logical measure, and called in the International Monetary Fund ( IMF ) . With its foreign exchange militias depleted, Thailand lacked the foreign currency needed to finance its international trade and service debt committednesss, and was in despairing demand of the capital the IMF could supply. Furthermore, it urgently needed to reconstruct international assurance in its currency, and needed the credibleness associated with deriving entree to IMF financess. Without IMF loans, it was likely that the tical would increase its free-fall against the US dollar, and the whole state might to into default. The Domino Effect Following the devaluation of the Thai tical, wave after moving ridge of guess hit other Asiatic currencies. One after another in a period of hebdomads the Malayan ringgit, Indonesian rupiah and the Singapore dollar were all marked aggressively lower. With its foreign exchange militias down to $ 28 billion, Malaysia let its currency, the ringgit, float on July 14th, 1997. Next up was Indonesia, whose currency, the Rupiah, was allowed to drift on August 14th. For Indonesia, this was the beginning of a hasty diminution in the value of its currency, which was to fall from $ 1=2,4000 Rupiah in August 1997 to $ 1=10,000on 6th January 1998, a loss of 75 % ! Economic Situation in Malaysia As the ringgit declined against the US dollar, the authorities deferred disbursement on several high profile substructure undertakings including its esteemed Bakun dike undertaking. This was followed in December 1997 by the release of programs to cuts rate disbursement by 18 % . The authorities besides stated that it would non bail out any corporations that become insolvent as a consequence of inordinate adoption. Economic Situation in Indonesia Indonesia has many weak points ; two of the major jobs are its weak and unstable economic substructure due to the overspending of the authorities of skyscraper undertakings, beach and vacation resorts alternatively of bettering its basic substructure of the state. The other major job is the rampant corruptness and cronyism, which involves the president? s household and top authorities functionaries. Economic Situation in Singapore Singapore has non been hard-hit by the crisis and economic growing has merely slowed down somewhat. One of the grounds is that the Singapore authorities does non hold much foreign debt. The authorities has sufficient foreign militias to cover with crisis such as this 1. Corruptness is all but non-existent due to the rigorous enforcement of the Torahs. It besides had a solid foundation formed through old ages of sound economic direction and policies. Economic Situation in Korea The presence of corrupt dictators, the last three presidents, is one of the grounds for the hapless economic state of affairs. The close relationship between the authorities and the chaebol is the other ground. The chaebol spent money recklessly by donating liberally to politicians who so arranged for unbarred bank loans. Lessons Learned In order to forestall another economic crisis, reforms on certain countries has to be done: # 183 ; To hold a more flat playing field for the private sector by leveling monopolies and puting up simpler, more crystalline regulative system # 183 ; To cut down unproductive authorities disbursement such as military build-up, prestige undertakings, subsidies and warrants to favoured sectors and houses # 183 ; To hold a greater transparence and answerability in authorities and corporate personal businesss. Standard patterns should include of import countries such as revelation, bankruptcy and corporate administration # 183 ; The liberalization of capital flow in a prudent and proper sequenced manner that will maximize the benefits and understate the hazards of free capital motions # 183 ; Strengthening the banking system that protects the economy of little depositors and at the same clip, freed from authorities intercession in the allotment of recognition. Decision Globalization offers unprecedented chances: the opportunity to accelerate the gait of investing, occupation creative activity and growing. Consumers from advanced states will be able to profit from the cheaper imports. At the same clip, it carries with it risks: a greater exposure to switch in market sentiments, which can trip a monolithic displacement in capital, and in bend, precipitate banking sector crisis with spill-over effects in other economic systems. The Asiatic economic systems, particularly those of Thailand, Indonesia, Korea were severely hurt by the crisis due to the broad spread corruptness in the authorities, cronyism, unplanned and unstructured growing with ill managed banking and fiscal systems. To hold a recovery, assorted reforms and alterations in the administration has to take topographic point. Finally, it is deserving underscoring that despite its dramatic impact, the long tally effects of the crisis may be good, non bad. To the extent that the crisis gives Asiatic states an inducement to reform and reconstitute their economic systems, they may emerged the experience non weaker, but stronger establishments and a greater ability to achieve sustainable long-run economic growing. Bibliography Goad, G.P. , ? The Region? s Brutal Economic Contraction Looks Set to Continue but a Distant Hope Still Beckons? , The Wall Street Journal, Oct 26, 1998. Henderson, C. ( 1998 ) , ? Asia Falling? Making Sense of the Asiatic Currency Crisis and its Aftermath? , McGraw-Hill, Singapore. Shameen, A. A ; Bacani, C. , ? No terminal in sight? Now, political relations excessively drives Asia? s money sufferings? , Asiaweek, Jan 16, 1998. Tsang, D. ? The Asiatic Debt Market? , Asiaweek, Dec 19, 1997. Woodael, P. , ? East Asiatic Economies? , The Economist, March 7, 1998.

Replicating The Keshe Plasma Electric Generator Essays

Replicating The Keshe Plasma Electric Generator Essays Replicating The Keshe Plasma Electric Generator Paper Replicating The Keshe Plasma Electric Generator Paper What is important is that nomination* is triggered through simple reactions. Joined: 28 July 2009, 10:40 From: Posts: 683 Belgium This has been tested and it does not work as due to the characteristics of this material, the material will dissolve into nothing. The concept is totally to show the essence of release of energy and capture . Tax (given/received): O time 21 28 times She Book Tutorial Plastic: (Universal Order if Creation of Matter) towpath. Youth. Commonweal_list? P=38EF87FDD33CA864 7 What is an Electron? M. T. She answer The other breakthrough with this technology which has been very interesting has been discovering what an electron is. If you ask any theoretical nuclear physicist what is an electron? What is inside of an electron? They cannot give you an answer, theyll say we do not know, but what we do know is that it flies around d the center nucleus at a very high speed. For the first time we have explained and proven that an electron is a plasma an analogous substance consisting of mobile charged particles Question and Answers: Q: How does it break the laws of physics? Please explain 8 Inside this bottle there are four pieces of copper wire (electrodes), and they AR e not touching each other they are independent. This means that within this bottle there is an open circuit. Like an on/ off switch, a circuit is OFF when it is open, and it is ON when the circuit is closed. On-?electricity flow, Off-?no flow) circuit (turn it on) AND generate electricity from the air within an Empty Open However, with our new understanding of the creation of gravity, we have New Physics in the world of science. This experiment breaks the old laws of physics and brings to the light of day a new discovery, and its pretty exciting. How do you know its not a battery? Because there is not an abundance of electrons in the bottle like the abundant CE of electrons within a battery. Rather this is generating energy by moving electrons in a way that mi miss our entire galaxy. Imagine if we shrunk an entire galaxy and put it into a coffee cup. Then we SST KC some electrodes into that swirling galaxy we would probably read energy. That is pretty much what we are doing here, but with atoms not stars. An you tell us what this can be used for? A: This can be used for two very important things: One: proving M. T. Shes theory Of the creation Of gravity thus ushering in a new era of science and discovery we leveled up, and Two: To blow peoples minds, especially those who build one. This is impossible, BRB seas the laws of physics, but yet it is happening From there, this one application of our new understand ing of the creation of gravity will literally revolutionize the world! And this is just the energy application. Read more ABA out other applications here: She University Education for the Future (Introduction) Can this be scaled up to produce a lot Of energy? A: No, it is not a matter of scaling this UP rather it is a matter of scaling this DOD n, to the atomic level which requires nuclear engineering. Scaling it up dilutes it, scaling g it down focuses it and concentrates the energy. The exciting news is this is already do nerd and we have the knowledge and technology to produce as much energy as we want vi a this plastic 9 bottle concept model Q what if you did put it in a vacuum ? Left the bottle closed ? I was going to mention the same idea, Pump the air out, to 14. 7 negative pop rids per sq inch and then pump the solution in and have a draining mechanism or even leave the Liz duds in bottle and record the results. After all space is a big vacuum if you compare it to galaxys. Thats the thing. This isnt necessarily energy from the vacuum, and it is still m ova;Eng electrons creating the electricity. So in a vacuum it would not work because it needs electrons, and with the cap on it actually produces less energy in that it draw s energy from its surroundings it needs an open environment which is weird UT nature is pretty weird/magical sometimes. Below is a conversation of Q and A. When you went from gravity to talking about plasma. Dont understand the lie ink. Dont know what plasma means actually. 2. When you took the meter reading. What units? What work was it doing? (l have e no techno knowledge) 3. When you got drunk it sort of downgraded your credibility. There are a lot of connec tions that do not make in this video. In fact, most o f the stuff I talk about is pretty incomprehensible and would go over everyones head any ways, discouraging them from watching. There is literally a spinning galaxy of atom s generating the electricity and doing the work in this video. It is not my intention to connect with people on only an intellectual level with t his video. Rather, it is my intention to connect with people on both and intellectual and a personal level, and alcohol tends to breakdown subconscious barriers, the ego, between Poe Regardless of weather you were drunk while watching this video, if you laugh deed, we subconsciously spent the night getting drunk together we bonded. It is impossible to break the Laws of physics, however, in this video break the laws of physics, this is the only thing that matters in this video. Remember however, this is not my experiment, this is MET She experiment, I am simply replicating Otto show you. Booze aside, dont understand what law Of physics has been broken and who at other law 10 used. But it was entertaining. Off switch, a circuit is OFF when it is open, and it is ON when the circuit is closed. On=electricity flow, Off=no flow) That helps. Thanks. So is there vapor from the solution that is still in there? A ND its playing with itself to create an electric differential between the electrodes? No, the bottle was open all night. Its not a vapor in there, its a plasma reaction n. Plasma simply meaning electrons, neutrons, protons, etc. (She describes these part icicles as different fundamental plasmas. ) A plasma reaction just means the hydrogen atoms are ionizing. Meaning that the atom is loosing an electron. That electron then becomes a free electron, a process that t happens all the time. From there the proton and the electron of the hydrogen atom com e back together.

Issues in Money, Banking & Finance Essay Example | Topics and Well Written Essays - 2000 words

Issues in Money, Banking & Finance - Essay Example Some of the treatments that Japan has attempted in combating deflation are fiscal expansion, reduction of interest rates, depreciating the Yen, bank restructuring, two rounds of quantitative easing, and Abenomics. However, with the exception of the last measure whose effect is yet unclear, the situation has not changed much with a continuous economic recession reflected by its balance sheet (Botman et al, 2015: p32). This paper will explore the reasons why monetary and fiscal policy measures, as well as economic restructuring measures by Japan, have failed to end the deflationary pressures on its economy. As Japan’s consumption rate tax increased in 1997 followed by an economic recession and a deflationary spiral, Krugman (1999b: p1) stated that Japan had entered into a liquidity trap, in which the demand for currency was increasing dramatically, while resulting increases in the supply of currency failed to effect any changes in interest rates. This assertion was an extension of liquidity trap theory advanced by Keynes, where an economy’s general demand continues to decline despite a reduction of nominal interest rates to zero with production capability being higher than the general demand. Therefore, this definition would attribute Japan’s deflationary spiral to inadequate effective demand in relation to consumption and investment. Although Japan kept its interest rates low, this was still not enough to stimulate consumption and investment, while expansion of currency supply by the Bank of Japan was equally ineffective (Murota & Ono, 2012: p344). Krugman (1999c: p1) attributes this phenomenon to the fact that the Japanese public was more likely to save due to uncertainty about the country’s economic future, as well as fears that their income would reduce, despite having stable liquidity preference at the interest rates critical point. Therefore, the underlying factor driving this

Crusading Essay Example | Topics and Well Written Essays - 2000 words

Crusading - Essay Example Thus, the crusade indulgence initially was identical to that ensured by the pilgrimage to the Holy places. The Crusades, which meant fighting for the defence of Christians, came to be considered as a work of piety. Political and military success was of little importance. Pope Urban II solemnly proclaimed the first crusade at the council of Clermont on 27th Nov. 1095 with a double objective, namely to relieve the pressure of the Seljuk Turks on the Eastern Empire and to secure free access to Jerusalem for pilgrims since the latter were abused and robbed by the Moslems and Arabs. He promised full remission of sins to all joining in the expedition. This call was in response to Alexius I call for help (Alexius Byzantine emperor - Byzantine Empire under attack from the Turks). This crusade was the most successful from the military point from the military point. The historian Raymond Agiles describing the capture of Jerusalem by the crusaders in 1099 wrote ''that some of our men cut off the heads of their enemies; others shot them with arrows, so that they fell from the towers; others tortured them longer by casting them into the flames. Piles of heads, hands and feet were to be seen in the streets of the city. It was necessary to pick one's way over the bodies of men and horses. However, these were small matters compared to what happened at the temple of Solomon, a place where religious services were ordinarily chanted. What happened there If I tell the truth, it will exceed your powers of belief. So let it suffice to say this much at least, that in the temple and portico of Solomon, men rode in blood up to their knees and bridle reins.''1 The Crusades took on a new meaning later on. It became a military expedition and no longer a pilgrimage of unarmed pilgrims. The Church moved away from the sole aim of the crusades which was the liberation of the Holy Land from the invasion of the Turks and it began using the Crusades to serve the church's own interest. Preaching of crusades became a device used by the church against the enemy states of the church. Personal enemies of the churches high-powered officials were sent on pilgrimages with the hope that you do not come back however, the means by which your death is brought about. The crusades increased the powers of European kings in that a number of barons who had given them trouble were sent to the east. Holy wars were authorised by the Popes in defence of the Christendom and the church. The crusades were used to defend the church against the infidels in the East, Germany and Spain, against heretics (Albigenses) and schematics who threatened catholic unity and against Christian lay powers who opposed the papacy. They were also used to defend the Papal States. The crusades started with a religious reason but it deteriorated to selfish reasons. These could be attributed to many reasons. The Papal States had to protect its territories from invasion by other states so it used the crusades as a papal military defence operation to defend these territories and the

Development of Intermodal Transportation

Development of Intermodal Transportation A major factor underlying this transformation of freight transport is represented by the changes in the scale, in the composition, and in the structure of the American and global economies. The demand for transportation services has grown in response to the generally brisk performance of the US and global economies in this period. The US economy is becoming dominantly services-oriented, and shifting from mass manufacturing to high value-added custom manufacturing. The resulting combination of increasing information content and decreasing material intensity of goods changes the character and value of goods being moved. Further, the US and other Organisation for Economic Co-operation and Development (OECD) countries, in search of lower overall factor costs, have created global and regional free trade regimes, and globally organized production systems and value chains, which require speedy and timely movements of goods. These flows of goods are coordinated across national and global tra nsport nodes and links in order to support the smooth functioning of the globalized economy. Technological changes in the transport sector in the US have arrived in the form of the Interstate Highway System, the jet aircraft, the container and container ships, roll-on/roll-off vessels, and a variety of micro infrastructure to facilitate operations at seaports and airports. The use of information technology (IT) greatly enhances transport operator and system efficiency, offering not only speedier goods transport at declining costs but also the ability to integrate goods supply chains regionally and globally, while maintaining lean inventories. The third factor underlying the major changes in the freight system is the institutional and organizational restructuring of the transport system since the 1980s. Public policies to reform economic institutions by deregulating and privatizing the transport sector have stimulated technical innovations and enhanced productivity in that sector in the process lowering costs and improving speed and reliability. At the same time, two organizational innovations business logistical systems and intermodalism provide major sources of change in the freight sector. Intermodalism is desirable since inefficiencies in the freight sector impact upon the competitiveness of US firms in the transport and transport-using sectors. Intermodalism seeks to enhance the performance of the transportation system by increasing safety, reducing congestion and decreasing delays, thereby enabling more efficient freight and passenger trips (Hickling 1995). Greater efficiency translates into lower costs and an increase in the competitiveness of US firms in the global marketplace. The Intermodal Surface Transportation Act (ISTEA) emphasizes the importance of intermodalism and challenged the transportation authorities, at the federal, state and local levels in the US, to increase interconnectivity between the maritime, air and land transport modes, and thereby enhances the effectiveness of the total network. It is widely recognized in the US, in both industry and policy circles, that cooperation between transport modes has the potential to reduce congestion, especially in major freight corridors. While congestion problems result from a variety of factors, the concentration of production and trade in a relatively small number of metropolitan gateway cities, the increased dominance of a few ports, and the intermodal competition for the same freight, adds to the congestion. The traditional attitude toward infrastructure investment, namely building ones way out of congestion, has not been helpful since Transport integration across modes faces additional complex problems arising from institutional and regulatory choices made at several levels of the government, that is, federal, state and local. These choices, legacies of the past, currently impact upon the costs and the quality of service of freight movement, aspects particularly important during the current phase of increasing globalization. A more complete definition of intermodalism needs to incorporate the physical, institutional and informational elements that facilitate cargo shipments in a seamless manner across different modes. Thus, intermodalism can be more accurately defined as movement of cargo across a transportation network in which the physical, institutional and information infrastructures are integrated to reduce transaction costs and maximize operational efficiencies. Since seamless transport across modes is a major objective, this chapter discusses some of the obstacles to and many of the advances made towards fu rthering intermodalism in freight transport in the US. The major factor underlying the increasing demand for intermodalism is the globalization of the American economy. North America, Europe and other countries have built on the Bretton Woods system, the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) to create a global free trade regime, including regional Preferential Trading Areas such as the North American Free Trade Agreement (NAFTA), the EU and Mercosur. The industrialized countries, driven by the pressure to reduce overall factor costs in the competitive global economy, are using these open trading regimes to erect a globally distributed production system. There is increasing division of labour in the production processes as component activities are further disaggregated and spatially reallocated. This partition of the production process the slicing of the production value chain across national borders leads to different stages of production being carried out across several countries. The deregulation of the US transport sector since 1978- 80 has not only improved the performance of the various modes, but has also stimulated intermodalism. First, major changes occurred in the US in the conduct, performance and structure of airlines, trucking and railroads after deregulation: more competition among all modal carriers, lower prices, a wider set of service offerings, and new entry into most geographic and product markets. Carriers have been able to rationalize their networks, improve the efficiency of their operations, and set rates in line with competitive market conditions. There was a significant change in the cost structure of the railroad industry following deregulation, with productivity growing at well over 2 per cent a year (Bereskin 1996).

On torture

In that day and age it was all too easy for criminals to flee from a crime UN accused and unpunished seeing as there was no major arm of law present to further investigate certain crimes or follow up on possible suspects, s a result when an individual was caught for a crime or under suspicion they were tortured as a means to obtain a confession. The Justice system and the practice of torture presented both the victims and the accused with many problems however this was all due to the harsh realities of the 18th century.From a modern point of view torture is seen as outrageous and inhumane however in the 18th century it was practiced as an attempt to set an example for society and lower the overall crime rate, although the barbarity of these acts reflects poorly on behalf the 1 8th century society there were still many people who saw torture for its egregious nature and advocated for more tolerant alternatives.Torture was used since the beginning of collocation however the practice be came extremely popular during the 18th century, an era where using brute force was regularly encouraged. Torture existed well before the eighteenth century; the Greeks and Egyptians also used torture as means of obtaining a confession however torture for the purpose of interrogation was usually conducted in private it was hidden because they were aware of the social and political Implications that followed.As Roman law adapted torture became part of the official Justice system of the 1 8th century, a system where the accused we tried, tortured and executed in public so that everyone was aware of the punishment that would follow crime. Torture was at its peak during the inquisition period where heretics were persecuted and tortured if they refused to change their religion or admit they were not Roman Catholic. It was this period, which were called â€Å"the witch trials† that reintroduced torture to Europe.Slaves and others of lower class were also falsely accused and tortured for petty individual would suffer being stretched on the rack, a public whipping or exposure in the stocks. Torture was used to set an example to others in society as an attempt to lower the overall crime rate and obtain a confession. Most punishments in the 18th century took place in public; torture was an elaborate and shocking practice that was intended to discourage anyone who watched from crime.It was a threat to all criminals and a warning to all citizens, in a day countless amounts of people were tortured to death without a trial or a clear dissertation of their offense. This caused an outrage amongst many members of society who wanted to see change and improvement on a level where issues were approached in a more humanistic manner. Many enlightenment philosophies protested for a more tolerant society, people like Voltaire spoke against the evils of the Justice system and torture until he died.In his writing Scientific Religion he says: â€Å"What horror is this, a secret J udgment a more execrable tyranny than that of spilling blood on a whim without giving the least reason, it is important for everyone that such decisions should be biblically justified† (Brains, 1998) Voltaire biggest issue with torture was the fact that people were not Justified with an explanation for what they had done, they were not given a trial or a chance to defend themselves. It was said that an accused individual would be tortured and if they were indeed not guilty God would save them from their predicament.Torture as a tool of interrogation is not a new phenomenon, in the Greek playwright â€Å"The Frogs† the Aristotelian asked a character which method they should use to torture a slave and he replied: â€Å"In any mode you please pile bricks upon him, stuff his SSE with acid, flay, rack him, hoist him or flog him with a scourge of prickly bristles† (Ramose, Dupes, Zoological, & Careened, 2005) The method of piling bricks on an individual was used to for ce the person into a plea of guilty or not guilty during a felony case.Flaying involved the removal of a portion of the skin from the body, flaying was also used as a method of execution, when a larger portion of skin was removed. The rack was a torture device that consisted of a frame with a roller on both ends the victim was chained by the hands and legs to both ends of the frame ND the rollers were turned which would slowly pull the victim's body in opposite directions causing their Joints to come apart.The process of hoisting an individual consisted of binding the victim's hands and hanging them by a rope attached to their hands causing their shoulder blades to dislocate. Flogging is a method where an individual is struck with a whip tipped with sharp ends meant to tear the victims flesh. The methods that were described in the playwright were used by the Greeks and then adapted and practiced by the 18th century society.A large number of the 18th century torture methods proved to be Just as their cruel abilities, whether they fell victim to torture through their own actions or due to false accusations. Society was no longer running on the basis of obeying the laws to protect everyone but more so obeying to stay alive. Cesar Bacteria spoke out against the corruption of the Justice system, in his essay on crimes and punishment he tries to educate people on the possible alternatives to torture while still for maintaining order and putting crime at bay: â€Å"It is better to prevent crimes that to knish them†¦Do you want to prevent crimes? See to that the laws are clear and simple and that the entire force of the nation is in their defense. See to it that men fear the law and nothing else, the fear of laws is salutary but the fear of men is a fruitful and fatal source of crimes. † (Halls, 1977) Cesar understood that torture would never be the solution to crime and he made it clear in his essay that it was barbaric and outrageous and if there were to be any advancement in the 18th century society torture had to end.From a modern point of view torture is seen as outrageous and inhumane however in the 18th century it was practiced as an attempt to set an example for society and lower the overall crime rate, although the barbarity of these acts reflect poorly on behalf the 18th century society there were still many people who saw torture for its egregious nature and advocated for more tolerant alternatives. Torture was used since the beginning of civilization and then adapted by 18th century Romans however they changed the practice in to something more horrific than it originally was.

Business game Essay

Reflection on Personal Performance in Business Strategy Game Business strategy games involving management process before confirming the decision to be made. Lesson learned taken from the business game, from the process and the content from the case (industry and situation & condition of the business). Management Process Planning was the first process taken. Reading and understanding the relevant information was necessary and plays a significant role in planning process. Expectation was established in the planning, and followed stepping process until all aspects have been determined, including all distinctiveness in production (capacity, model, etc. ), transportation (shipping), labor, etc. Planning is critical, and it was indicated in the business strategy games, in which it required quite some time to achieve an agreement. Time was also a factor should be considered, and it drove the discussion on the planning to obtain the agreement. Organizing was also needed in the game to obtain optimal process. One opinion was listened and it organized the discussion and the direction of the process toward certain strategy. Other opinion was taking in to consideration, whether support or as devil advocacy to the strategy. The process also managed by organizing the flow of discussion to center on the strategy with already decided to be focused on. One person plays role as organizer at one time became a source person or follower in the other time. This approach of organizing made the progress of the discussion in the one focal point that describes the strategy taken which leads to the decision. When a member played the role as organizer, then the member did directing the process and content according to the chosen strategy, and also can happened that the strategy can be changed according to the expected result and considering assumption of strategy of the competitors. Some times in the process, one or more member can have their drive going down. In this situation other member did motivated the team to keep up the winning spirit. Controlling was also involved in the process, by focus on one thing and sacrifices in other thing, align with the strategy. These four processes of management were implemented in the process of gaining the final decision and in determining the content to be made (such as production/manufacturing, shipping, labor, price, etc. ), in which the final decision was made by consensus. The experience in the game gives the learning point in practicing of implementing management process, planning, organizing, directing, and controlling. Within a given time, group should be able to do planning (including crafting the strategy, and establish the goal), organizing the process (including agreed on the road map of the process, listening and expressing opinion, and adjusting to the characteristics of the group), directing (including do and accept direction, motivating others, make or initiate decision), and controlling (to be aligned with strategy). Management Functions Strategy plays a critical role in the process, and aim to make the company have differentiation that creates competitive edge compare with the competitors. Decisions are determined align with the chosen strategy. Strategy such as increasing market share and or increasing price to obtain more profit, and or have a low cost production by moving the manufacturing to the low cost location, and or lowering the labor cost, and or increasing the quality of the product, etc. , were became the issues discussed during the process. Any decision made in the process should be linked to the strategy and eventually to the expected result (goal). Marketing management initiatives plays important role in the process. Attention was put in the advertising or promotion program. The decision on the initiatives was made in relation with other initiatives, and initiative should be congruence to be able to reach expected impact. Operations management was also applied, in order to have efficient and low cost production, to be able to lower the price, or put emphasizing in better quality of product and therefore adjust the price to a higher number. Having different locations of manufacturing was also part of consideration in operation management, including the days needed for shipping, and inventory level. Financial management was critical. At the end of the day, the success of the strategy, whether the plan was achieved of not, was determined by facts and figures which was analyzed and interpreted in terms of financial. The situation or condition of the company was considering of profitable, safe or potentially bankrupt, and whether the strategy was effective or not was determined from numbers including financial ratios. Production plan and realization, exchange rate, labor cost, product sold or unsold, inventory level, price, etc. were contributed to the financial condition, and will be analyzed further for determining next strategy (for next run). Human Resource was also had major role in the decision process. Number of labor involved, salary and incentives, were several factors considered in human resource function. During the discussion it was also considered incentive factors as the factor that can boost the motivation of the employees, in which can increase the productivity and eventually proportionally can lower the cost. Experience in the business games told that the management functions will be more effective if it was take into consideration in integrated way. The strategy made was comprise of many functions of management, Working in Teams Team work was a factor that can smooth the progress of the practice toward a productive way. At one time one member took the role as leader, and expressed the idea or opinion which regarded as reference that was supported or argued by other members. The leader than guide or direct the process toward obtaining acceptable or best solution. Other member played role as follower, tried to understand point of view of the leader, and gave opinion to enrich the information for having the decision. In one process it can happened that the role of leader was switch from one member to another member, and lead the discussion toward the decision. Working in team in the business games demonstrated by listening to other opinions or ideas and, gave contribution to the group by doing analysis and expressing constructive argument and idea or opinion to the group. In the process of making group decision, group tried to obtain consensus, with all group members support the decision. Experience and Lesson Taken to Working Place In leading unit in the working place, it is important to have clear goals for the unit, which are determined in the process of performance planning that usually take place at the beginning of the year. The goals comprises of organization (unit) objective, and individual objective which should be clear and measurable (refer to SMART Goals principle) and cascaded from top to bottom, means that the goals are aligned from executive or manager position to staff position. Having a clear goals or expectations will make all employees within the unit know exactly what are expected to be achieved and will make the monitoring of performance become more effective, and eventually it will make the evaluation of the achievement more effective. Leader should be able to define the goals, which reflected what the unit wants to be, particularly for the respective year. For the unit, strategy than decided to define what is the best way to achieve the goals or answering how to get there. Leader should be able to determine the strategy, which should consider of having different way of doing rather than just following the same thing. Strategy should have put into consideration opportunities and obstacles that can potentially will be faced along the year. For the unit performance, flow of work, service level agreement, number of employee, training and development program that will have impact to the quality of work, compensation practice, etc. should be considered in order to have effective strategy. Every people in the organization have potential, and leader should put effort to unleash the potential of the individual and support them to perform in their work. Many initiatives of improvement or programs come from the people in the unit that can give positive impact to the unit. Motivation is needed to keep the work spirit not fall to the lower level. Leader should do coaching to ensure people in the unit understand and on track, make sure that people move to the same direction with same strategy. Every function of management can be implemented to achieve optimum result. Managing the operation implemented to ensure effectiveness and efficiency of work. Human resource management will help in ensuring what unit do are align with the business. Financial management can be implement whether in business or support function, for instance to measure Return on Investment of certain initiatives. As member of management team, we should contribute in a positive way by giving opinion and ideas, or doing what has been decided productively. Discussion should be conducted in conducive way, listen what other people say and express opinion to reach to the decision. When decision has been made, member should follow and committed to perform the decision in effectively. Success of the unit is also determined by the competency, performance, and contribution of the members. To have an optimum result, member should be able to look the purpose as unit purpose not individual purpose. This principle can create synergy between members in the team and can contribute more to the performance of the team. The business strategy games provide inspiration that can be applied in the working situation. Having competitors that can affect the result of one group convey the message that in establishing standard, one unit should not look into inside factors, but should also consider outside factors. The capability of the unit can be seen differently and will lead to different goals and strategy. Strategy can be different if the external condition is supportive and indicates opportunity and will be different if the external conditions are not accommodating. Macro and micro analysis can be conducted to have a more comprehensive analysis for obtaining effective and right decision. Read more: http://www. ukessays. com/essays/business/reflection-on-personal-performance-in-business-strategy-game-business-essay. php#ixzz2leirR8KT BUSINESS SIMULATION GAMES INDIVIDUAL REFLECTION PAPER On 10 November 2010 afternoon, Our Can group get a chance to get the materials business simulation games, the first time we were a little confused and not understand what the content and intent or purpose of this program. Until then we get the opportunity to play an active role play in the game by forming a company in our Group Can. Listen Read phonetically Dictionary – View detailed dictionary I am a member of cans group discussion – 3, in this business game, we manage the company named â€Å"CHAMP†. We chose the name â€Å"CHAMP† for our company becouse we hopes that companies will become a leader or a winner in this Business Simulation Game. Growth of our company in this game very interesting and gave many valuable lessons. Our company was ranked second on the game in first year, after making changes in the manufacturing and marketing strategy; we became the first winner in the game in the second year. In the third year we make changes in the shipping, manufacturing also marketing strategy again to maintain its position as champion, but in the fact that our ranking dropped to be number 3. In the fourth year we wanted to get back into champions. We did totally change the strategy in all sections and mainly to increase product awareness, we contracted with many famous artists paid a high price for promotion. But the results we slumped to the lowest ranking (sixth). This surprised us and made us confused to find out where our biggest mistakes in managing the company. Listen Read phonetically Dictionary – View detailed dictionary noun camp compound Did not want to continue to decline, in the fifth year we try to flash back to learn the success stories in the first and second year, besides that we also study the company’s strategy of competitors, then we create a new strategy and the results we were able to ride into fourth place. In the sixth year we try to make small changes to strategy in several sections and the results we rose again to number three. In the seventh year we do not make changes to our strategy and stay at rank 3. After doing business game above, there are many valuable lessons that I get. Those lessons were: About Management Process (Planning, Organizing, Directing, Controlling) In managing a company as a manager or owner of a business we must have: a. Planing ? Both long-term planning and short term, this really helps us to determine the strategy or action we should do in the near future or the preparation for long-term corporate strategy. b. Organization ? Complete, clear and transparent as one of the supporters because of the company’s â€Å"people are assets of a company†, the placement of people with appropriate knowledge and skills that will facilitate the acceleration of the process as well as the operations of a company. It also must be supported by a clear Job Description and detail-enter the respective functions of the organization. c. Directing ? In the governance of a company also must be supported by rules or standard operating systems or procedures are clear and understood by all line employees. we often call with company regulations, standard operating procedures etc. d. Controlling ? As a manager or owner in a company we still have to implement controls on employee performance, corporate governance, corporate operating costs and market conditions that support the smooth and that we manage the company’s growth periodically. We can also be done with checking Monthly Report / Balance Sheet , hold on monthly meetings, etc. Listen Read phonetically Dictionary – View detailed dictionary adjective inside deep indoor internal interior profound inland intrinsic cavernous thoughtful three-dimensional adverb deeply sound preposition in within on to inside under in the course of prefix endo- 2. About Management Function (Strategy, Marketing, Operations, Finance, Human Resources, etc. ) Strategy ? Corporate strategy should be set appropriately by considering several factors, including supporters of human capital, finance, market share and also that there are competitors in the same type of business with our company. In the governance of a business may take a few strategies such as for launching a new product needs some backup strategy, it is necessary whenever the initial strategy does not show results in maximum then we still have some alternative backup strategy, so it does not require a long time to take any action appropriate in market penetration. Marketing ? According to my opinion, the success rate of a company also backed with the full functionality of the marketing is true both in the company engaged in the services or products etc. Capable marketing, product master, around the existing market and marketing must knowing the strengths and weaknesses of competitors. Listen Operations ? Operational support from both system and service level aggrement factor in a process of corporate governance is very important. It also needs to be supported with the latest technology. Listen Read phonetically Dictionary – View detailed dictionary verb hold conduct make organize provide establish arrange carry out throw take set up call launch institute stage put on bring about impose carry on incur exercise levy open put up effect float lay on negotiate afford touch off operate stage-manage generate phrase bring into being Finance ? A company can be said in good condition when to generate maximum profit. As a manager or the owners of a company we should be able to manage our capital versus operating costs required, the greater the profit earned by production costs that are not too large will show the healthy of a business. However, we also must consider the placement of funds and financial governance of our company, whether already in accordance with the budgeting or is not appropriate. In terms of business expansion or major factor that should we consider is the condition of our corporate finance, whether supportive or not, when lack of support but the potential or opportunities that we have a large, one financial source of our business is on loan from the Bank with a source of return and specific timeframe. Human Resources ? In addition to the above factors one important thing to note is that inadequate human resources that are reliable and have the skills to suit the needs of the company. A competent leader should be able to determine the amount of labor requirements and can put the right people-enter the respective divisions within an organization. 3. About Working In Teams To work as a reliable teamwork are some things we have to consider include: Get familiar with either all members of the team, it is useful to the division of tasks and towards solving problems that arise. We must be willing to hear opinions of all members of the team in making changes in strategy or action for operasinal company. Explore more information and opinion that reliable and resonable with the case or problem that we should solving as a good team work, eq. Browsing some data from internet or from any sourches. Putting the right people on the job or responsibilities in accordance with the characteristics of our team members are. Based on the experiences and lessons I got from the business game I have done, I plan to apply some advantages in my workplace. As the leader of my unit : A leader should have strong leadership and enough skills to manage the organization and the company. Planning, directing (also mentoring or choaching program) and controlling periodicly to all of my sub ordinate. Delegate some responsibilities to the deputy business with a fixed control function properly . Sharing knowledge to all sub-ordinate, sub-branch manager and exploring new knowledge, new technology and strategy for the success of Bank Mega Cluster Balikpapan Special Hire employee from another Bank (Manager or Marketing) to help me manage the company and make the vision 1000 of Bank Mega become reality (become the leader bank in Balikpapan – East Kalimantan Indonesia) As a member of my management team : Being more creative, proactive and always have new ideas to supporting the management team More details in targeting business opportunities and increase market share. Establishing a reliable team work with 2-way communication is effective and still value the opinions of other members of management team Read more: http://www. ukessays. com/essays/business/business-simulation-games-individual-reflection-paper-business-essay. php#ixzz2lej5YvdS REFLECTION PAPER – THE BUSINESS STRATEGY GAME About Management Processes From the Business Strategy Game, I learned that first important process for a company to determine its future business path was to set a strategic and realistic planning about what is the company goal, how long the goal will be achieved and how to achieve the goal among the competition. In setting the plan, company should define first what is their mission statement or strategic vision. This mission statement is a statement which indicates the purposes and activities of the company’s business/goals in brief, clear and focus words. Along with mission statement, company must clearly define its objectives quantitatively within certain period. From these quantitative objectives, company could set a realistic and attainable long term strategic planning to allocate budget and resources in the company. In strategic planning, company should define clearly its target market, financial objective and competitive position among the industry. This strategic planning will be the direction of the company in running its business. After setting the strategic planning, company should design an organization structure to manage the company effectively, by designating persons who will in charge in each roles and held responsibility in each area of the business in the company (marketing, finance, operation, sales and so on), especially the person who will be responsible as the leader of the company (as CEO). The role of CEO is very essential because he/she must lead company to the right direction in implementing company strategy to achieve company’s objectives. From the clear and effective organization structure, CEO and management will have clear legitimation and authority in directing all resources in the company to implement the company’s strategy. Finally, the company should closely and intensively controlling and monitoring the performance of the strategy during implementation to assess its progress against the pre-defined targets and ensure that all the company elements were doing their parts and responsibility in the right track. About Management Functions In a company, management should establish the right and important functions which will run the company operational activities, define what are the responsibilities of each functions and ensure that each functions performed in accordance with the company objectives. In order to give more value to the company in terms of profitability, management should work together to set a strategy in making company’s output (product or services) more competitive in the market by considering all aspects involved. As an example, to gain more profitability company could set pricing strategy to be higher or lower compare to market but before decided the price, company should consider other aspects such as costs, quality and resources needed in creation of the product or services. About Working in Teams In working as a team member in the company, it is very important to determine a clear designation about who will act as the leader and the follower. Because if there’s no clear designation, potentially will cause the resources in the company to move to the wrong direction and this will destruct company effort in achieving its objectives. As a leader, a person should show the ability to manage and to coach the entire team member to do their tasks properly, and he/she should has willingness to listen and appreciation to his/her followers insights at the same time. And as a follower, one should give respect to the leader and obey the leader decisions. But it is important too for the company to define what is the follower assignment and designation, because if it is not clearly defined, the follower couldn’t perform nor contributed optimally in attaining company’s objective process. What I plan to do in my work place from the experience and lessons I took from the BSG are : As the leader of my unit I will put more effort to be an effective and efficient leader of my unit and will put more awareness to all my team member that our jobs especially in designing the most efficient operational work flow in my company has essential impact in saving the company budget and optimizing company resources which will contributed in achieving the company’s objective especially in financial aspect and giving more value to the customer and shareholder. And furthermore I will spend more time and effort to evaluate designation and job description for each member of my team, to put the right person to the right job and responsibility. If the designation and job description were not fit or not clear to the team member, it will impact to the performance of the working unit itself because each team member do not know exactly what is their role in their working unit. As a member of my management team I will put more consideration and attention about financial impact of any decision that my management made. From the BSG, I see that all activities in each working unit must be contributed and affected to the company strategic planning especially in achieving financial goals. And I will put more respect to any member and any decision of my management team made, even though sometimes the decision seems to be hard to be implement, I will try to see it from wider perspective that the decision must be made deliberately and considered many important aspects which ending is to give more value for the company.