Modern Monetary Policy

Introduction Globalization has made the world a global village and thus any country’s economy is affected both by its internal monetary policies and those of other countries it interacts with. Depending on the way these monetary policies are made they can work toward developing the economy of one country to the detriment of the others or promote economic growth in both the country where they are enacted and to other trading countries.Advertising We will write a custom essay sample on Modern Monetary Policy specifically for you for only $16.05 $11/page Learn More The United States of America has experienced economic expansion for a very long period (from 1990 to 2000) until the last half of the year 2000 when the country’s economy growth became slow and sluggish. In order to contain the slow growth and improve the economy of the country â€Å"the Federal Reserve between mid-1999 and May 2000 raised the target for the federal funds rate to 6  ½ % from 4 ¾ %†( Labonte Makinen 7). his did not auger well as the economy growth continued to decline and thus the policies had to be loosened in order to allow more production and spending for the economy to grow. Government policies that are aimed at controlling the supply of money in the market through the Central Bank make up monetary policies. In the legislation and enacting of monetary policies several bodies coordinate together in order to achieve an acceptable money supply as not only does it affect the country’s economy but also other countries economies, which trades with the United States of America. The major banks making policies in the United States of America are however two (both the nation’s Central Bank and the Federal Reserve). In relation to the United States of America, we can define monetary policies as those policies that â€Å"consist of the directives, policies, pronouncements, and actions of the Federal Reserve that affect aggreg ate demand or national spending† (Labonte Makinen 8). Monetary policies works at either increasing or decreasing the supply of the money in the market influencing how trade and spending goes on within a country. The only unfair characteristic of monetary policies is that they are short term in nature since their enactments are usually designed only to solve a short term crisis. In short the monetary policy tries to solve economic crisis and once the normal economic environment is regained the monetary policies are also adjusted to suit the situation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Monetary policies try to solve macro economic issues such as spending, income levels, unemployment, and inflation among other macroeconomic factors. Evidence showing monetary polices trends can be described by the fact that: Between January 3, 2001, and June 25, 2003, the target rate for fe deral funds was reduced to 1% from 6 ½%. This policy was reversed beginning June 30, 2004. In 17 equal increments of  ¼% ending on June 29, 2006, the target rate was raised to 5 ¼% from a base of 1%. No additional changes were made at the three subsequent meetings. (Labonte Makinen 4) In order to understand how monetary policies work it is advisable to understand its two indicators. Indicators of Monetary Policy Money Supply A common market rule is that when the supply of a commodity decreases its demand increases resulting in increased prices and the opposite happens when the supply is high the demand decreases thus driving the prices down. This same law also applies to the supply of the money in the market. Most of the times, monetary policies are described either as easy if in influences an increased money supply and tight if its main aim is to reduce the money supply. Interest Rates In his interest theory, John Maynard Keynes argued that interest rate is monetary phenomen a determined in the money market but not influenced by savings as classical economists used to argue. He argued that not all people who save that do so with an intention of earning interest thus it should be in the monetary market where funds are borrowed and their rates determined. Thus, changes in money supply (whether an increase or a decrease) leads to an increase or a decrease in the cost of the money. The changes in interest rates are important to the government as they influence spending in an economy thus creating or reducing employment. However, experts warn that the interest rates experienced due to the changes in aggregate demand and supply of the money are not the real market rates; the real market rates should be the existing market rates less inflation rates in the country. It is thus assumed that a high economic growth reduces interest rates in the short run. Given that countries have future expectations of how inflation rates will be the fall in market rates is alway s seen as a fall in the real interest rates. However, market rates can change for other reasons for example an increase in income increases the market interest rates thus increasing the demand for money since more people can afford the money and the public expects lower inflations in future (Schabert 17).Advertising We will write a custom essay sample on Modern Monetary Policy specifically for you for only $16.05 $11/page Learn More How the Monetary Policy Works Monetary policies works through the following instruments which either increases or decreases the supply of money in the market as it is explained below. Open Market Operations To increase or decrease the supply of money in the market, the Federal Reserve can engage in open market operations; this involves selling and buying of bonds in the market. When the federal Bank engages in selling the bonds or securities it aims at reducing the money supply in the market to avoid inflation of the money; the opposite occurs if the federal bank realizes that the money supply in the market is less as it repurchases the bonds and the securities thus making more money available in the market and this helps in ensuring that the commodity prices remain at a stable position by increasing both the money supply and the aggregate demand (Taylor 4). Reserves Deposit Requirement The government through the federal government can also increase or decrease the required reserve deposits that the commercial banks in the country deposits in the federal government in order to control an economic problem which may be brought about by the existing economic conditions. In order to reduce money supply in the market, the Federal Bank instructs the regional or commercial banks to increase their reserve requirements; this increases the amount of money withheld and in return reduces the amount of money which can be lend to the customers thus reducing the money supply. The lowering of the reserve deposit requi red in these banks by the Federal Bank works in the opposite way. In order to meet these Fed requirements, banks lend among themselves creating a multiplier effect and the rate on such loans determines how loose or tight the monetary policy at that time (Feinman, Deschler Hinkelmann 1). Discount Rate Federal Reserve lending rates to commercial banks are described as discount rates. An increase in the discount rate makes the cost of borrowing increase thus reducing the amount of money which the Federal Reserve can lend to the commercial banks within the state. The high interest rates are transferred down to the customers and the high rates discourage borrowing thus reducing the money supply in the market (U S Department of State 28).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Interaction between Central Bank, the Treasury, and the Financial System The Central Bank is a special bank within the ministry of finance but independent from interference by the executive. The bank has the mandate to preserve financial stability and enhance financial development by controlling the money supply in the market. Its’ autonomy can be described in terms of; the ability to set the terms and conditions on the items in the central bank’s balance sheet – this is essential for the conduct of monetary policy; having the means to bear any losses that arise from central bank operations and having appropriate rules to allocate profits (including rules that govern the accumulation of capital and reserves); and the ability to cover operating expenses, and in particular to set salaries (typically the single largest component of operating costs) in a manner that allows the Central Bank to attract and retain the professional talent it requires (Boehm 59). There h ave been interactions between the treasury and the federal reserve board in an attempt by the government to overhaul the regulatory system but some Fed officials were seeing it as an attempt by the government to interfere with the independence of the bank and thus there was no way they could accept. They argue that the Fed was established by the congress thus it is not part of the executive thus interference should no be expected from the treasury (Torres Schmidt 1). The interaction between the central bank, the treasury, and the financial institutions is best described in the way the monetary policies work and the role played by each. Policy Proposals Relating to Reforming the Financial System One of the proposals being forwarded by the congress is that of establishing a new systemic risk regulator bearing in mind the country is just recovering from the economic crisis. The regulator is expected to supervise the growth of the financial institutions. There has also been the proposa l of changing how the Federal Bank functions. This has not augured well as it would curtail the independence of the Federal Bank and make it prone to political interference. While many think that this will work well in the long run it may work against the goals of making the financial institutions and monetary policies effective as political interests might be fulfilled to the expense of American citizens. There have been further proposals from the House and the Senate for the creation of a Risk Based Systemic Fund whose source would be from the institutions. While the policy might be good, it is not without a flaw since it fails to address the appropriate levels through which the financial institutions can be evaluated. Other proposals have been aimed at making stricter standards on capital and liquidity requirements among the most risky institutions. As the United States of America recovers from the economic crisis there have been calls to create or establish a mechanism through w hich failing financial institutions can be rescued before they can file into bankruptcy through receivership so as to reduce the uncertainties in the monetary system (Acharya, Cooley, Richardson, Ingo 16). Finally, the executive has had interests in controlling the actions of the Fed and thus they had been proposing for law reviews which would allow the central bank become the lead regulator for all the financial institutions (Torres Schmidt 1). Conclusion From the study we can conclude that monetary policies are ways through which the government regulates the supply of money in the bank and while the policies are good they are only enacted for short term purposes as the economy is never static. Thus, policies also need to evolve and should be legislated in a way that suits the prevailing economic conditions. Works Cited Acharya, Viral, Cooley F. Thomas; Richardson, Matthew., Ingo, Walter. â€Å"Real Time Solutions for US Financial Reform.† VoxEU.org, 2009. Web. Boehm, Mos er. â€Å"The Relationship between the Central Bank and the Government.† Bis, 2006. Web. Feinman, Joshua; Deschler Jana., Hinkelmann, Christoph. â€Å"Reserve Requirements: History, Current Practice, and Potential Reform.† Federalreserve, 1993. Web. Labonte, Marc., Makinen, Gail. â€Å"Monetary Policy: Current Policy and Conditions†. CRS Report for Congress. The Library of Congress, 2006. Schabert, Andreas. Money supply and the implementation of interest rate Targets: Working Paper Series. London: European Central Bank. 2005 Taylor, John. â€Å"Expectations, Open Market Operations, and Changes in the Federal Funds Rate.† Stanford University. 2001. Web. Torres, Craig., Schmidt Robert. â€Å"Fed Rejects Geithner Request for Study of Governance Structure.† Bloomberg, 2009. Web. U.S. Department of State. â€Å"Monetary and Fiscal Policy.† Countrystudies,  2010. This essay on Modern Monetary Policy was written and submitted by user Vivid Leech to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Gravity Lab essays

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Office Space: Bureaucracy in the Workplace

Office Space: Bureaucracy in the Workplace The 1999 film, Office Space, characterizes an unhappy employee that works for a generic software company named Initech, which is structured as a bureaucracy. The main character, Peter Gibbons, eventually gets fed up by his job and the pressured environment in the workplace as a result of the bureaucratic environment. As a result of being fed up, Peter decides to rebel with the help of his two friends, Samir and Michael Bolton, and devise a computer program to steal from the company in small decimal amounts, but accidentally end up stealing a large amount. Meanwhile, the company decides to promote him while Peter is rebelling against the company. 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The summary also announced the governments suggestions for a more effective use of, and better training for, teaching assistants and other school support staff which, along with a subsequent OfSTED review, (2002a, p6) declared the need for training that would, match any proposed structure of qualifications and to facilitate career progression. The implementation of national occupational standards for teaching assistants, approved in 2001, and the HLTA status introduced in 20 03, (TDA, 2008) offered committed support staff the opportunity to progress and acquire the skills to become more accomplished educators. Working as a teaching assistant started to become a career and so began the real debate about the role of the teaching assistant. As with many job titles within the working environment, the title teaching assistant is often interpreted in a variety of ways but one common theme I have encountered, when questioning educational staff, is that all teaching assistants have the potential to be facilitators of learning and therefore are essential elements in the development of learning for children. How the facilitation is carried out, however, is less clear and open to individual interpretation by both employers and employees. In order to support the learning of all children, teaching assistants, like any educator, need to have a good understanding of how children learn. In the book, Teaching and Learning in the Early Years, Whitebread (2008, chapter 1) discusses Piagets ideas that children need to feel and hold control over their learning. Whitebread continues by exploring Vygotsys claims that it is the role of the adult to provide opportunities for social interaction and to support the child in moving out of their comfort zone or level of actual development and towards their potential via their zone of proximal development. To do this, a teaching assistant must understand how to promote curiosity amongst children while providing opportunities for discussion and exploration. With current class sizes in the region of up to 30 pupils, a class teacher will often be unable to engage in this vital aspect of developing childrens learning and so it is essential that supporting adults are equipped with the skills to scaffold learning and to provide opportunities for them to develop the language needed to be able to discuss and explain their ideas. (Bruner 1983, cited in Peabody Journal of Education, pp 64-66) Recently I was fortunate to be part of an initiative to promote reading amongst a group of reluctant pupils who had formulated an opinion that reading was a chore to be undertaken with animosity and only when instructed to do so. Upon investigation, it was obvious that these children had encountered a variety of barriers that had influenced their attitude and ability to read. My role was that of the enabling adult as described by Chambers (1991). By providing them with an opportunity to share and discuss each others reading experiences I was able to promote and inspire in them a willingness and enjoyment of reading. The outcome of this quickly became apparent in their understanding of written text. The children also began writing with enthusiasm, using their own knowledge and experiences; as a result, they had taken control of their own learning. The childrens vocal responses demonstrated that they felt empowered by the fact that they were directly responsible for the progress that t hey were making and they continue to enjoy our weekly discussions about their reading and progress. The children mentioned do not have special educational needs, as is often the case for pupils being supported by a teaching assistant. Children with SEN require a higher level of support and this has, traditionally, been provided by teaching assistants. (Alborz et al, 2009a) This has previously been an area for debate with The Daily Telegraph (2009) publishing an article claiming that research shows that, Pupils make less progress in classrooms where schools employ more teaching assistants. This article states that teaching assistants often support lower attaining pupils, resulting in them being less supported by a qualified teacher and to them making limited progress. The article does not, however, take into account the training of the teaching assistants. While reviewing the impact of workforce remodeling, a report by OfSTED (2004) stated that when a teaching assistant is appointed to work with carefully chosen pupils and is provided with the appropriate training to do so effective ly, the pupils make significant progress. This is, of course, as well as the obvious benefits of providing the teacher with more time to focus on other pupils. Having worked alongside several teaching assistants employed to support children with SEN I have witnessed the immeasurable benefit to the pupil and the class as a whole. The teaching assistants enabled the pupils to be included in a mainstream classroom and access the curriculum, while allowing the class teacher to support the majority of the pupils. Their support involved the re-enforcing of the whole class teaching, giving the pupil the confidence to participate in class discussions, simplification of vocabulary, offering praise and encouragement and feedback on the completed task. Following the lesson, the teaching assistant also provided the teacher with assessment and monitoring feedback to enable assessment of and for learning. This assessment has become a vital aspect of the role of the teaching assistant and supports the teacher and pupil by enabling differentiation and personalised learning to become every day practice. (OfSTED, 2002b) Guidance published by the NFER (2002, cited in Department for Education and Skills, 2005, p.22) found that when teachers and teaching assistants work in partnership, the results are a more effective level of teaching and learning. An example of this is a scenario I have experienced recently where a teaching assistant supported the learning of the majority of the class while the class teacher focused on the children with SEN. As a result of the teacher and teaching assistant having spent time working together to plan the lesson, the teaching assistant was able to support the learning objectives and assist pupils in their achievement of them. Teaching assistants can also, when included in the planning of a lesson, actively participate in the delivery of the lesson providing an alternative viewpoint or by playing a character in role. One such example was provided by my colleague who, upon realising that many of the pupils within the class had misunderstood a key concept, pretended to be confused and raised a hand to ask for clarification. As a result, pupils developed a clearer understanding of the lesson and therefore, the teaching assistant had played an important role in developing their learning. By implementing a combination of all of these approaches and with effective training and guidance, teaching assistants can provide invaluable support for all children within any lesson. Teaching assistants also support behaviour management within classes and can provide an alternative level of perception within the classroom. In daily Literacy lessons, I have observed a teaching assistant supporting a pupil with ADHD and have no doubt that without her presence, the class teacher would have to spend a large proportion of the lesson settling the child and addressing low level distractions. Personal experience has shown me that children with emotional or behavioural difficulties are often more responsive towards a teaching assistant with whom they can forge a positive adult / child relationship. This can contribute towards the social and emotional wellbeing of the child as outlined by Alborz et al. (2009b). Besides the opportunity to support childrens learning during lesson time, teaching assistants continue to carry out a multitude of administrative tasks in order to support the class teacher and the school as a whole. The National Agreement, (ATL et al. 2003, p.2), implemented as part of the governments workforce remodelling initiative, states that teachers should not spend their time carrying out administrative responsibilities that do not make full use of their skills and expertise but that these tasks should be carried out by support staff. The agreement outlines twenty-one tasks that teaching staff should not be required to carry out including the preparation of classroom resources, photocopying, the collection of monies for educational visit and the preparation and setting up of displays. These tasks must also, therefore, be considered the responsibility of the teaching assistant. Each and every one of the administrative tasks has an impact on the educational environment and ther efore contributes towards supporting the development of childrens learning. In practice, however, the need for teaching assistants to be more involved in the delivery of lessons surely means that they too will have less time for carrying out administrative duties which in turn might relay these duties back into the hands of the teachers. In my experience, teaching assistants often offer unconditional support for the school in which they are employed. Many carry out duties beyond their working hours providing curriculum enrichment activities and regularly being at the forefront of fund raising events. They frequently are able to provide a connection between local communities and their schools as they often live in close proximity to their workplace. This is a non essential yet valuable part of their role as it enables teaching staff to be aware of local issues and provides a link between parents and schools. (Lipsett, 2008) In conclusion, the role of the teaching assistant has evolved significantly over recent years and can offer committed individuals with a recognised career that is both progressive and rewarding. With appropriate professional development opportunities, a teaching assistant can give invaluable support to individuals and groups of pupils, teaching staff, parents and schools. By providing pastoral care, administrative support and personalised learning they can, as outlined in the Governments Every Child Matters initiative (DfES, 2003), promote enjoyment and achievement in a safe, nurturing environment; contribute to the academic and emotional wellbeing of all children; help them to become successful members of the school and wider community.

Skydiving Essay -- Extreme Sports Skydive essays research papers

Why do we skydive?   Ã‚  Ã‚  Ã‚  Ã‚  Skydiving has been around since ancient Chinese times as a form of aerial stunts. Leonardo da Vinci and the Chinese are both credited for creating the parachute, but it was really in the 18th century when France both created it and used it by basically throwing themselves out of planes. Little did anyone know that skydiving would be one of the craziest sports today. Jumping out of a plane two and a half miles up into the sky would not be someone’s idea of a normal day. As bad as two and a half miles up in the sky is, try doing it traveling at a rate of one-hundred and sixty miles per hour with just a parachute to save you. To many people this would be a nightmare; but to some of us, it is the biggest thrill of our lives.   Ã‚  Ã‚  Ã‚  Ã‚  Many people will sit and tell me that I am crazy for jumping out of a plane. I would just sit and tell them a quote I heard before I did my jump. â€Å"Skydivers know why the birds sing.† The experience doesn’t feel like you’re falling out of a plane, yet more like you are flying. Once you pull the parachute, the result is the most calming feeling. Words cannot even express it. You are totally relaxed and inspired after that chute is pulled.   Ã‚  Ã‚  Ã‚  Ã‚  Another reason why someone would jump out of a plane is that it actually is a stress reliever. You can still call divers crazy; but once you are up in the air flying, you are going to be stress free. The dive inspires such a complete focus of attention that all other worries, aggravatio...

Biomedical approach Essay

The Biomedical approach includes the administration of various pharmacological agents which can be utilized to treat various mental disorders. It is usually administered for short durations in combination with psychotherapy. It brings back to normal the various chemical substances that are present in the brain (neurotransmitters). When the neurotransmitter levels are normal, the effect of psychotherapy would be better. The biomedical approach can be utilized to treat various psychiatric disorders such as ADHD, OCD, depression, anxiety, etc (MINDD Foundation, 2008). The psychodynamic approach includes various theories that utilize the internal drives and forces that may be present in the individual (some of which may be unconscious), to ensure that the individual can undergo a psychological change and get to better control over several problems. It is effectively utilized in pain management. Psychodynamics is considered to be the interaction of the id, ego and the superego so as to satisfy ones needs (which play an important role in the development of the personality). The psychodynamic approach was developed by the followers of Sigmund Freud. This approach gives greater consideration to the unconscious motives that affect behavior, emotions and feelings. The behavior of adults is strongly affected by the childhood motives (Simply Psychology, 2009). The humanistic-existential approach concentrates on the motivations and the needs of the individual and is similar to the psychoanalytical theory. This therapy focuses greater on the free will of the individual rather than on obstructing human nature. This is one of the major differences that are present between humanistic-existential and psychoanalytical approach. It also tends to concentrate greater on solving the problem rather than the problem itself (University of Hawaii, 2008). Cognitive and behavior therapy (CBT) is a type of psychotherapy that involves determining and sorting out improper thoughts (that may be associated with depression), solving various problems and improving the problem-solving skills, and ensuring that people are able to engage in more enjoyable activities (that can ensure that the individual learns about potentially rewarding activities and performs them in the future) (University of Michigan, 2006). Reference Simply Psychology (2008). Psychodynamic Approach, Retrieved on May 29, 2009, from Web site: http://www. simplypsychology. pwp. blueyonder. co. uk/psychodynamic. html The MINDD Foundation (2008). The Biomedical Approach, Retrieved on May 29, 2009, from Web site: http://mindd. org/s/archives. php/48-Biomedical-Treatments. html The University of Hawaii (2008). The Biological Paradigm, Retrieved on May 29, 2009, from Web site: http://www2. hawaii. edu/~heiby/overheads_%20paradigms. html University of Michigan Depression Center (2006). Cognitive Behavioral Therapy, Retrieved on May 29, 2009, from Web site: http://www. med. umich. edu/depression/cbt. htm

Concept of Present Value

WHY IS THE CONCEPT OF PRESENT VALUE SO IMPORTANT FOR CORPORATE FINANCE? The importance of concept of present value to the world of corporate finance is that present value calculations are widely used in business and economics to provide a means to compare cash flows at different times. Present Value’s definition and simplistic formula used for normal purchases, the concept’s importance to corporate finance and why present value is the very first topic taught in finance classes explain that present value is an essential knowledgeable tool to ensure we make the best decisions with our money. However, first, What Does Present Value – PV Mean? Present value is â€Å"the current worth of a future sum of money or stream of cash flows given a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows. Determining the appropriate discount rate is the key to properly valuing future cash flows, whether they are earnings or obligations. † Through the definition itself, an importance to corporate finance is explained as well as why professors begin a finance course with a basis explanation in the time value of money – discounting and investment risk included. In more detail, capital investment decisions are long-term corporate finance decisions relating to fixed assets and capital structure. Decisions are made with several criteria to consider, and where corporate management seeks to maximize value in the firm by the correctly calculated net present value when valued using an appropriate discount rate. It would be beneficial on a personal level for the following reasons; â€Å"Learning how to use a financial calculator to make present value calculations can help you decide whether you should accept a cash rebate, 0% financing on the purchase of a car or to pay points on a mortgage. Present value could often the first topic taught in any finance class, due to the fact that knowledge of this formula can be used for basic financial planning that will lead to larger level strategy – making the best company investment decisions. Now, on to the fun stuff that is so anxiously taught in class – the problems and formulas. 2a. $500 i f invested for five years at a 4% interest rate: FV = 500 (1 + . 04)^1) = 500 (1. 04) = $520. 00 FV = 520 (1 + . 04)^2) = 520 (1. 0816) = $540. 80 FV = 540. 80 (1 + . 04)^3) = 540. 80 (1. 124864) = $562. 43 FV = 562. 43(1 + . 04)^4) = 562. 43(1. 169859) = $584. 3 FV = 584. 93(1 + . 04)^5) = 584. 93 (1. 216653) = $608. 33 End of Year12345 Principal$500. 00$520. 00$540. 80$562. 43$584. 93 Interest$20. 00$20. 80$21. 63$22. 50$23. 40 Total$520. 00$540. 80$562. 43$584. 93$608. 33 2b. $150 if invested for three years at a 9% interest rate: FV = 150 (1 + . 09)^1) = 150 (1. 09) = $163. 50 FV = 163. 50(1 + . 09)^2) = 163. 50(1. 1881) = $178. 22 FV = 178. 22 (1 + . 09)^3) = 178. 22 (1. 295029) = $194. 25 End of Year123 Principal$150. 00$163. 50$178. 22 Interest$13. 50$14. 72$16. 04 Total$163. 50$178. 22$194. 25 2c. $9100 if invested for seven years at a 3% interest rate: FV = 9100 (1 + . 03)^1) = 9100 (1. 03) = $9373 FV = 9373 (1 + . 03)^2) = 9373 (1. 0609) = $9654. 19 FV = 9654. 19 (1 + . 03)^3) = 9654. 19 (1. 092727) = $9943. 82 FV = 9943. 82 (1 + . 03)^4) = 9943. 82 (1. 12550881) = $10242. 13 FV = 10242. 13 (1 + . 03)^5) = 10242. 13 (1. 15927407) = $10549. 39 FV = 10549. 39 (1 + . 03)^6) = 10549. 39(1. 1940523) = $10865. 88 FV = 10865. 88(1 + . 03)^7) = 10865. 88 (1. 22987387) = $11191. 85 End of Year1234567 Principal$9,100. 00$9,373. 00$9,654. 19$9,943. 82$10,242. 13$10,549. 39$10,865. 88 Interest$273. 00$281. 19$289. 63$298. 31$307. 26$316. 48$325. 8 Total$9,373. 00$9,654. 19$9,943. 82$10,242. 13$10,549. 39$10,865. 88$11,191. 85 2d. $1000 if invested for ten years at a 0. 5% interest rate: FV = 1000 (1 + . 005)^1) = 1000 (1. 005) = $1005 FV = 1005 (1 + . 005)^2) = 1005 (1. 010025) = $1010. 03 FV = 1010. 03 (1 + . 005)^3) = 1010. 03 (1. 01507513) = $1015. 08 FV = 1015. 08 (1 + . 005)^4) = 1015. 08 (1. 020150501) = $1020. 15 FV = 1020. 15 (1 + . 0 05)^5) = 1020. 15 (1. 02525125) = $1025. 25 FV = 1025. 25 (1 + . 005)^6) = 1025. 25(1. 03037751) = $1030. 38 FV = 1030. 38(1 + . 005)^7) = 1030. 38 (1. 0355294) = $1035. 53 FV = 1035. 53 (1 + . 05)^8) = 1035. 53 (1. 040707) = $1040. 71 FV = 1040. 71 (1 + . 005)^9) = 1040. 71(1. 0459106) = $1045. 91 FV = 1045. 91(1 + . 005)^10) = 1045. 91 (1. 0511401) = $1051. 14 End of Year12345 Principal$1,000. 00$1,005. 00$1,010. 03$1,015. 08$1,020. 15 Interest$5. 00$5. 02$5. 05$5. 08$5. 10 Total$1,005. 00$1,010. 03$1,015. 08$1,020. 15$1,025. 25 End of Year678910 Principal$1,025. 25$1,030. 38$1,035. 53$1,040. 71$1,045. 91 Interest$5. 13$5. 15$5. 18$5. 20$5. 23 Total$1,030. 38$1,035. 53$1,040. 71$1,045. 91$1,051. 14 Present Value – 3a. $7700 to be received three years from now with a 5% interest rate PV = 7700 / (1 + . 05) ^ 3 = 7700 / (1. 157625) = $6651. 55 3b. $1500 to be received five years from now with a 7% interest rate PV = 1500 / (1 + . 07) ^ 5 = 1500 / (1. 4025517) = $1069. 48 3c. $7200 to received two years from now with an 11% interest rate PV = 7200 / (1 + . 11) ^ 2 = 7200 / (1. 2321) = $ 5843. 68 3d. $ 680,000 to be received eight years from now with a 9% interest rate. PV = 680000 / (1 + . 09) ^ 8 = 680000 / (1. 9925626) = $341269. 07 Time Value of Money – Annuities 4. Present Value – Annuity / Suppose you are to receive an annuity of $3000 every year for 3 years @ 3% interest rate. PV = PVAF(r,n)*CF PVAF(r,n) = 1/r – 1/[r*(1+r)^n] (33. 33 – 30. 50472 = 2. 828611) PV = 2. 828611*3000 PV = $ 8485. 83 5. Future Value – Annuity / Suppose you receive a payment of $5000 every year for 3 years, depositing into a bank that pays 2% interest. FV = CF * FVAF (r,n) FVAF(r,n) = 1/r – 1/[r*(1+r)^n] (50 – 47. 11612 = 2. 883883) FV = 5000 * 2. 883883 FV = $14419. 42 REFERENCES Anonymous (2010). Investopedia. com. Present Value. Retrieved on 5 Apr 2010 @ http://www. investopedia. com/terms/p/presentvalue. asp 2 Megginson, William (2008). Corporate Finance. Stamford: Thomson Learning. P. 86. Anonymous (2010). Investopedia. com. Explaining Present Value-PV. Retrieved on 5 Apr 2010 @ http://www. investopedia. com/terms/p/presentvalue. asp 4 Anonymous (n. d). FinanceProfessor. com. Future Value. Retrieved on 3 Apr 2010 from http://www. financeprofessor. com/fiancnenotes/introductoryfin/presentvalue. htm 5 Anonymous (n. d). FinanceProfessor. com. P resent Value. Retrieved on 3 Apr 2010 from http://www. financeprofessor. com/fiancnenotes/introductoryfin/presentvalue. htm 6 Anonymous (2008). The Time Value of Money. Retrieved on 4 Apr 2010 from http://www. econedlink. org/lessons/index. cfm? lesson=EM37

Most Important Macro Environment Factors In Qantas Tourism Essay Essay Example

Most Important Macro Environment Factors In Qantas Tourism Essay Essay Example Most Important Macro Environment Factors In Qantas Tourism Essay Essay Most Important Macro Environment Factors In Qantas Tourism Essay Essay Corporate scheme of Qantas has been back uping all its concern aims and besides employee degree single aims so that the company produces better consequences for the satisfaction of clients. Airline industry is a immense topographic point where different companies are working and if planning and strategic determinations do non run into the demands of the current environment of the concern than it would be bad for the company. Selling and Auditing are the cardinal countries where the strategic determinations of the Qantas have to concentrate. In Australia the air hose industry has been under crisis since 2000 so the Qantas had to undertake the state of affairs by strategic moves and proper planning has to be done for that. Selling auditing has been done by the company several times to look into the effectivity of the strategic determinations that were being made to back up the selling activities sing new and old clients ( Kain and Webb, 2003 ) . In add-on to these, a important worldwid e tilting in rapid expression of low-priced transporter was empirical and the challenge for Qantas to keep both the low cost and high quality criterions was hard but feasible and it worked on it. Australian air hose industry was non opposed to this, two moderately priced air hoses that is to state wish and Virgin Blue Airlines were launched in 2000 and so they created a sense of competition in footings of selling activities for the company and therefore auditing was going necessary. Use OF BUSINESS TOOLS TO UNDERTAKE FORMAL MARKETING, AUDITING AND PLANNING Business tools like schemes and client services tools like package, plans and policies if used decently for the Qantas would assist set abouting the formal selling, scrutinizing and be aftering. Formal Marketing would come if the selling schemes are planned based on perfect concern tools that are available in the market for market research, client analysis and selling scheme preparations. Similarly if we move toward the scrutinizing side the construction could be formalized through several concern tools that would automatically bring forth scrutinizing study to analyse concern schemes. Auditing tools like package tools and concern bundles should ever be a beginning of support to set about more formal schemes to be made, more complex analysis to be done and more accurate planning to be done. Planning is another major portion which would bring forth consequences for the Qantas ( Kotler, Brown, Adam, Burton, and Armstrong, 2007 ) . Planning is the most critical portion because if it s d one good, ends good and if non so the result would besides acquire disturbed Planning concern tools available in the market let us to use the resources at best of the capableness to do them bring forth best consequences and this is what is needed at the point of clip. Qantas has already been utilizing several different concern tools for selling, scrutinizing and planning and besides bring forthing consequences expeditiously. If farther utilised good Qantas can do it a competitory border for the company and an effectual manner to fulfill the clients. MOST IMPORTANT MACRO-ENVIRONMENT FACTORS IN QANTAS Macro environment factors that are act uponing the Qantas Airlines include Political, Economic, Societal, Technological, Environmental and Legal factors. All these factors are really critical for the success of Qantas. Political factors like Australian political relations and the province Torahs are traveling to act upon the tendencies of the company and the net income devising would Torahs be disturbed if the revenue enhancement policies changes from the governmental governments. So Qantas has to concentrate over such schemes really carefully and it has to be prepared for such alterations because they are out of control of the company. Social factors like altering tendencies among clients, debut of new tendencies in the society and altering similitude and disfavor of people are all such factors that should be prepared and should be decided in schemes ( Kain, and Webb, 2003 ) . Technological factors are altering twenty-four hours by twenty-four hours and therefore this would hold bee n a biggest challenge for Qantas to get the better of such challenges and get by up with all new technological betterments go oning twenty-four hours by twenty-four hours. Particularly it has to be really strong in Research and Development so that every coming engineering comes foremost in Qantas before hitting the rival companies. Environmental factors like conditions and environing states and their policies are really of import to be considered so that Qantas designs its schemes consequently as it has been making antecedently. Legal factors are last but non the least factors which play portion in success of the company and they play really critical function in doing such policies. MOST IMPORTANT MICRO-ENVIRONMENT FACTORS IN QANTAS Micro environment has been besides really of import and several factors are portion of micro environment like strengths, failing, chances and menaces of the company. Qantas Airways, a national Australian air hose established in 1920 is the universe s 2nd oldest air hose header towards a century of age in 2020 ( Harcourt, 2004 ) . Strengths Along with its subordinates served destinees, a figure of international flights includes about all the continents like Africa, Oceania, Asia, Europe and the Americas. Bing the most oldest in age, Qantas airways is far in front in experience, operational answerability, engineering and services. For all categories including economic system category a epicurean amusement system is provided along with in flight cyberspace installation and with every place holding a LCD screen. Promising a comfy journey, going by Qantas air hoses is cost effectual. A complete cabin system is provided with First category, concern category, premium economic system category and economic system category classification. A paramount committedness is assured through a proper client charter including client s safety, in clip going and reaching, proper caretaking in instance of any bad luck and procuring personal information of their clients. An environment friendly attack through group environment policy sing all modern-day issue sing environment for the attainment of green planet. Airway squad has ever been working for supplying every possible path that is widening twenty-four hours by twenty-four hours. Shows their goodwill gestures at the clip of exigency in their ain part or for their ain people settled abroad in the class of emptying charter. Qantas air passages had been declared as World Skytrax Airline of the Year ( for five back-to-back old ages ) , Skytrax Best Airline Australia ( 2005, 2006, 2008 ) , and Skytrax Best Regional Airline Australia ( 2006, 2008 ) for their services along with several wine design and amusement awards. Failings A conservative policy is implicated while flight that kids going unaccompanied are non allowed to sit along with male travellers, which compels the work forces to experience sex discriminated as females can every bit be suspected for kid maltreatment. Despite being the oldest among the air hoses, Qantas air passages had gone through one air accident in about each decennary which indicates inefficiency in trifle. Due to environmental restraints, some long path direct flights are frequently delayed. Opportunities Proper policies are launched for regular circulars by points gaining through any type of activity that includes money disbursement, either through hotel staying, recognition card use, auto leases, dining and much more. Members are besides given different types of premiums clip to clip. Turning points increases client value from Ag, gold to Pt. Leases has been announced for new aircraft fleet to provide more riders, employment chances, services efficiencies and widening winging concern. For advancing business communities entree to universe with no problem a nine has been organized for uninterrupted and epicurean travel with precedence cheque in and certain concern related and personal installations. Subscription can be made from one to several old ages. Menaces Strong response to planetary fuel monetary value addition, by about half duplicating the ticket on about 10 % addition in fuel monetary values that has late been noticed. Certain efforts of extortion have been made that had an inauspicious consequence on air hose repute but now they are about sorted. Qantas has been accused in 2006 and had been proved guilty for monetary value repair. They had to pay they were fined a immense trade of money, if this happens in hereafter will turn out a dire menace to air hose repute. Selling RESEARCH AND MARKETING INTELLIGENCE Soon the Qantas Group is among one of the few major air hose groups in the universe that are still doing net incomes. Several air hoses are doing considerable losingss, and few amalgamations have besides been seen in past ( for case KLM-Air France ) , coup detats by some large companies and bankruptcies of houses ( e.g Northwest and American Airlines ) . In malice of the apparent flushed first feeling, the existent profitableness word picture across the Group has been diverse, with Jetstar s domestic and planetary operations normally executing good, while the Qantas divider of the concern has been executing less than them. This has been critically because concern intelligence is really of import. Market research has to be on precedence to gain precedences and therefore if company falls down the major issue is low research of market. Qantas s market portion has declined bitterly in the last decennary. At the same clip as the air hose was in a taking market topographic point with 34.4 % of the transition to and from Australia, from 2010 to 2011 its market portion had declined to 18.7 % ( Bamber, Lansbury, Rainthorpe, and Yazbeck, 2005 ) . Intense market research has let it go on and the Qantas has ever been really concerned about that and in response to market needs the launch of Jetstar was planned, which has fascinated 8 % of planetary transition into and out of Australia separating the in general Qantas Group with a 26.5 % market portion at the terminal of 2011. Cleavage AND SPECIFIC SEGMENTATION VARIABLES Cleavage is really of import and critical for Qantas as it has been aiming the domestic and international markets together. The economic capableness of the Qantas international concern is, however, critical to the Qantas s purposes and ends. Dazzling this, a demand to take down the costs is an indispensable occupant of the Group s program for Qantas. Harmonizing to the air hose, the cost base is about 20 % higher than major rivals ( Porter, 1979 ) . Cleavage should be done consequently so that the demands are met and no infinites are left for the rivals to take over. But side by side it is besides really of import that the company follows its ain capacities while aiming a market section. It merely does non hold the small cost formation of many of the rivals, in peculiar the Asiatic rivals. Cleavage needs to be on the footing on geographic as age, gender and other factors do non truly count. Segmentation and specific cleavage variables like demographics, psychographics, buyer-graphics and geographic are critical if selling of the company is planned. Pricing criterions should be set harmonizing to the demands of the clients and cleavage can be based upon that every bit good. Understanding OF MARKET POSITIONING Positioning has been really critical portion of selling scheme which has to be decided by the Qantas and it already has done it good. It has positioned its merchandise domestically on the footing of monetary value incursion while international the placement is based over quality more. The major measure of positioning policy is to be familiar with likely violent net incomes. Qantas has many times for distinguishing its extent and augmented repetitive benefit against its rival Virgin Blue from side to side merchandise and service division ( Coyne, and Sujit 1996 ) . We know that Qantas is a most of import supplier of air conveyance ; the cardinal advantage that a client will take release of is time-critical conveyance . Understanding OF BUYER BEHAVIOR Buying behaviour of client is another major factor which it considers good and behaviour of clients towards the air hoses. Customers have ever thought of holding privileges in footings of monetary values and quality of services. Customer behaviour has ever been a critical phenomenon to analyze when it comes to success or failure of a company ( Brandenburger, and Nalebuff, 1995 ) . Customer would wish to hold proper services and installations during the flight with the sense of security and safety during the journey. Customer s penchant should ever be the centre of attending for the company. Customer is ever right and his attitudes and behaviours are ever critical for the success of the Qantas. Behavior of the bing client of Qantas toward the trade name is loyal but the new client or the client who is utilizing rivals services are non cognizant of the company strengths wholly and this makes it hard for them to take Qantas among all. For this Qantas has to plan a really strong selling run that would convey benefit in footings of client base and the social consciousness about Qantas. Customer base when increases bring a batch of benefits for the company and this should be the focal point of Qantas right now. Decision The overall appraisal of different factors of Qantas have made us recognize that the market analysis and research is really critical and strategic determinations, planning, appraisals and hearing could be done reasonably and more accurately after you have complete cognition about internal and external factors of the company. Position of the merchandise plays really important function in its success or failure so Qantas should take attention about that. Customer behaviour besides plays really of import function and analyzing client behaviours would once more be done through the market research activities. Qantas if focal points all above exactly would acquire privilege to acquire success shortly and for long term.

Organisation, Competition and Environment Assignment

Organisation, Competition and Environment - Assignment Example The Unique Point Tutorials has over a hundred students, taught by Dowell herself with the assistance of some half a dozen teachers for different subjects. Dowell prefers coaching the younger children, leaving the older children of higher grades to the teachers who are specialized in different subjects. As an individual proprietor, Dowell had never felt the need to draw up objectives or targets. Business-wise, she was prospering. However, a few students of the higher standards had opted to change over to the new classes since they were offering offshore services, being affiliated with universities abroad. This has made Dowell think on global terms. On her husband's advice, she consulted a chartered accountant, who has asked her to crystallize her aims and objective, and targets from the current year. She decided on a two-pronged approach to her objectives which were to be external objectives and stakeholders'/internal objectives. To institutionalize her tutorial with her husband as a co-associate, and draw up a Memorandum of Association and encourage interested parents to become members in the association, with a view to promote total education for everybody in the locality. With a view to further strengthen her position vis--vis the competiti... To formulate principles of best practice, promote research, and link up with reputed overseas universities. To lobby for increased funding for capital expenditure to rent or purchase additional rooms to accommodate a hundred more students. (http://www.aicafmha.net.au)1 With a view to further strengthen her position vis--vis the competition, Dowell decided to identify her stakeholders and their objectives, and the objectives' status as of date. After deliberating, she concluded that her chief stakeholders were the students, parents and the teachers/staff. She also decided to make time for discussion and consultation with each of them in order to gather useful data and ideas, strengthen relationships, enhance the associations' reputation, improve decision-making, and also make these practices a part of her mainstream business practice. B)The stakeholders'/internal Objectives were: 1) For Students: To pursue and foster learning, enquiry, and through this to realise the Association's mission to be an academic community working together to create a learning environment in which teaching and learning is of the highest quality, supporting students and their personal development, and contributing to the well-being of their region and nation. To offer programmes of study at school, undergraduate and postgraduate levels that provide students with varying entry qualifications, experience and an educational base for a range of employment and further training opportunities. To provide appropriate curricula and learning experiences that satisfy the requirements of relevant professional and accrediting bodies. To provide scholarship to deserving students. To enable students to acquire a working knowledge of core

Innovation in turbulent times Essay Example | Topics and Well Written Essays - 3500 words

Innovation in turbulent times - Essay Example Same way it is difficult for a mobile phone manufacturer to sell mobile phones with the phoning option alone because of the entry of advanced mobile phones with advanced features like, audio, video recording, internet surfing options etc. â€Å"Radical innovation is crucial to the growth of firms and economies. Firms at the leading edge of innovation tend to dominate world markets and promote the international competitiveness of their home economies† (Tellis et al). For example, Microsoft has innovated new operating system windows for personal computers around two decades before. They were succeeded in monopolizing the world software market thereafter. Even though the introduction of Windows operating system brought market leadership to Microsoft, they never stayed inactive. Periodically they modified the Windows operating system based on the technological growth and the changing requirements of the customers. The recent global recession has revealed the fact that only innovat ive organizations may have better future in the highly competitive world. Innovation is the bread and butter of organizations. Moreover, the future of many organizations depends on their ability to innovate because of the tough competition in the market. In short, innovation is the much needed entity for the organizations to exist in the current globalized and highly competitive business world. ... The leadership needs to play an active role in the innovation process. Leadership styles and functioning are undergoing drastic changes at present in order to encourage the employees to come out with innovative ideas. It is difficult to anticipate that every worker will contribute innovative ideas; however, the chances of at least few workers providing some innovative ideas are bright for all the organizations. In order to encourage the workers to come out with new ideas, most of the current organizations are giving ample freedom to the workers. Autocratic styles of management have given way for democratic styles of management in order to increase the worker involvement more in the innovation process. However, still some prominent companies are not considering the worker involvement necessary for the innovation process. Apple Company is one best example for that. Apple always develops new products secretly and they are not giving any ideas about the new product they are going to deve lop to their employees. Only the concerned people will know about such things. â€Å"A leader who believes in Trend Spotting and believes in capitalizing on emerging trends and technologies can set the example for staff to create an openness that new ideas and trends are brought forward† (Innovation Perspectives - Leader's Role in Trend Spotting). Trend based innovation is another major thing developed in the business world in the recent past. For example, Apple has recently introduced its touch screen phone (iphone) in the market and it became a huge success. After watching the customer trend towards this type of touch screen phones, Nokia, Sony and Samsung like big companies also immediately introduced their