Human Resources Development Strategies Essay -- Human Resources

This paper portrays how to actualize HR Strategies which are being figured and anticipated human asset of an organization. Human asset is the most significant piece of the association. It assumes a critical job in upgrading the efficiency of the association. Plans are readied, yet the execution is the most significant part. This paper gives rules of executing different procedures in Human asset. Rules for execution of system identified with Human Resource Development: Individuals: It is significant for individuals in the association to have work life balance so as to have an upbeat existence, so the preeminent work is to execute the activities for work life balance. Move that ought to be made is to lead a weight profile review; consistence review to see working time pressure on representatives. After finish of the review, results must be assessed and distinguish the requirement for Flexible Roster alternatives. The activity ought to be led by the council whose head must be the Head of the Employment Practice (Human Resources Strategy: usage plan, 2004). It is important to draw in nearby individuals and youth to the association for which the Student Support Officer inside Human Resources and Young Promotion working gathering can meet up to frame a working panel to get ready limited time materials, for example, Choose a vocation which give security and development organizers. On location visits can be led for understudies to present proficient and specialized employments with the goal that they can be pulled in to work in the association. Association with different schools and universities can be set up and preparing can be given to the individuals who are happy to join the association. The association can keep up an on-line database for summer understudy enlist... ...e taken to beat the deferrals. Expectation the help gave by me is adequate to address the questions. It will clearly assist you with bettering comprehend the subject talked about and improve your insight. I am likewise including the references, from where I found the substance. Toward the end, I wish you glad learning. Sources Cited HR Strategy: usage plan. (2004). Recovered June 25, 2014, from http://www.nhs24.com/content/mediaassets/board/2004-09-29%20Item%202.3%20HR%20Strategy%20App%202%20Imp%20Plan.pdf Execution plan. (2004-09). Recovered June 25, 2014, from http://www.hlthss.gov.nt.ca/pdf/reports/human_resources/2005/english/five_year_comprehensive_human_resource_implementation_plan.pdf Report on the Implementation of the New Human Resources Strategy. (2006). Recovered June 25, 2014, from http://www.adb.org/adf/HRS-Paper-ADF-IX.pdf

Why The Confederacy Lost Essays - American Civil War,

Why The Confederacy Lost Why the Confederacy Lost Since the beginning numerous students of history have attempted to place the specific purpose behind the Confederacy losing the war. A few antiquarians accuse the leader of the alliance Jefferson Davis, anyway others accept that it was the shear quantities of the Northern armed force that won out. However others have accused pretty much every broad that the Confederacy had, as indicated by James M. McPherson: Among them Robert E. Lee himself for botch, arrogance, and misguided thinking; Jeb Stuart for heading out an a strike around the Union armed force and losing contact with his own military, leaving Lee visually impaired in the foe's nation; Richard Ewell and Jubal Early for neglecting to assault Cemetery Hill on the evening of July first and again for lateness in assaulting on the second; or more all, James Longstreet for trouble, immediacy, and power in the ambushes of July second and 3rd.(P.19). Ideally, this paper will reveal some insight into the genuine purposes behind the Confederacy losing the war. There are two classes that understandings can fall under, one is inner interior is taking a gander at the south, what they did well and what they fouled up. The following one is outside outer is taking a gander at both the North and the South, seeing the issues and the achievements of the two sides. For and case of an outer clarification, when Pickett was asked what he thought was the purpose behind the Confederacy losing the Battle of Gettysburg he stated, ? I've generally thought the Yankees had something to do with it? (19). The possibility that the Yankees had an excessive number of

Major Approaches Models of Change Management

Major Approaches Models of Change Management Change is the only constant reality of life and is observed not just in our personal life but also on the professional front. But do all of us know how to deal with change? No. Managing change and learning to adapt to it takes time, energy, efforts and training and this is the reason why several learned individuals around the globe have come up with properly structured and defined models to manage change.In this article, we shall go through what change management is and about the various popular change management models that have been effectively and successfully been applied to businesses and industries with the aim of dealing with transition and change. © Shutterstock.com | Sergey NivensIn this article, we provide 1) an overview on change management and explain 2) the major approaches and models of change management.CHANGE MANAGEMENT: AN OVERVIEWChange Management is the term that is used to refer to the change or transitioning people, groups, companies and projects from one state to another. When this term is applied to businesses and projects, it may refer to a process of transitioning the scope of the project in such a way that it can meet changing requirements and objectives. What happens is that after a certain point in time some changes may need to be introduced as far as functioning, operations, marketing, finance or the other aspects of a business are concerned so as to improve its chances of reaching its goals. Change management involves the application of structured methods and a pre-planned framework so as to steer business from its current state to a desired state.The main benefit or advantage of the application of chang e management is that it helps to increase the chances of a business staying on its budget or schedule that in turn leads to higher ROI and realization of benefits. Amidst the high competition and fast paced world, it is important for every organization to move ahead by constantly bringing about useful and structured changes and adapting to new technology and methodologies to meet customer demand.MAJOR APPROACHES MODELS OF CHANGE MANAGEMENTIn order to manage change and implement change strategies, it is important to avoid implementing irrelevant or random methods and try to focus on a suitable plan of action. Change management is an ongoing process that takes time, expertise, dedication and efforts to implement and run. It requires the involvement of people or staff of the company and may also result in these people being affected by the changes too. Before adopting one of the many effective and popular change management approaches and models, an organization must first figure out w hy it needs the changes and how will the changes benefit it.The following are some of the best strategies and approaches to implement change management.1)   Lewin’s Change Management ModelLewin’s Change Management Model is one of the most popular and effective models that make it possible for us to understand organizational and structured change. This model was designed and created by Kurt Lewin in the 1950s, and it still holds valid today. Lewin was a physicist and social scientist who explained the structured or organizational change through the changing states of a block of ice. His model consists of three main stages which are: unfreeze, change and refreeze. Let’s look at these stages in detail:Unfreeze: The first stage of the process of change according to Lewin’s method involves the preparation for the change. This means that at this step, the organization must get prepared for the change and also for the fact that change is crucial and needed. This phase is important because most people around the world try to resist change, and it is important to break this status quo. The key here is to explain to people why the existing way needs to be changed and how change can bring about profit. This step also involves an organization looking into its core and re-examining it.Change: This is the stage where the real transition or change takes place. The process may take time to happen as people usually spend time to embrace new happenings, developments, and changes. At this stage, good leadership and reassurance is important because these aspects not only lead to steer forward in the right direction but also make the process easier for staff or individuals who are involved in the process. Communication and time thus are the keys for this stage to take place successfully.Refreeze: Now that the change has been accepted, embraced and implemented by people, the company or organization begins to become stable again. This is why the stage is referred to as refr eeze. This is the time when the staff and processes begin to refreeze, and things start going back to their normal pace and routine. This step requires the help of the people to make sure changes are used all the time and implemented even after the objective has been achieved. Now with a sense of stability, employees get comfortable and confident of the acquired changes.2)   McKinsey 7 S ModelMcKinsey 7-S framework or model is one of those few models that have managed to persist even when others came in and went out of trend. It was developed by consultants working for McKinsey Company in the 1980s and features seven steps or stages for managing change.StagesStrategy Strategy is the plan created to get past the competition and reach the goals. This is the first stage of change according to McKinseys 7-S framework and involves the development of a step-by-step procedure or future plan.Structure Structure is the stage or attribute of this model that relates to the way in which the organization is divided or the structure it follows.Systems In order to get a task done, the way in which the day-to-day activities are performed is what this stage is related to.Shared values Shared values refer to the core or main values of an organization according to which it runs or works.Style The manner in which the changes and leadership are adopted or implemented is known as ‘style’.Staff The staff refers to the workforce or employees and their working capabilities.Skills The competencies as well as other skills possessed by the employees working in the organization.Benefits of this modelThis model offers ways and methods to understand an organization and get a deep insight into the way it works.This model integrates both the emotional as well as the practical components of change that is something that is important to create ways to enable employees deal with transition easily.This model considers all parts to be important and equally worth addressing and thus do es not leave out some aspects that may be of importance.This model also offers directional factor to organizational change.Disadvantages of this modelSince all the factors are interrelated and interdependent on one another, the failing of one part means failing of all and this is the greatest disadvantage of this model.This model is complex as compared to the others and differences are not focused upon in it.Organizations that have used this model have experienced more cases of failure, and this too can be considered as one negative associated with it.3)   Kotter’s change management theoryKotter’s change management theory is one of the most popular and adopted ones in the world. This theory has been devised by John P. Kotter, who is a Harvard Business School Professor and author of several books based on change management. This change management theory of his is divided into eight stages where each one of them focuses on a key principle that is associated with the response of p eople to change.StagesIncrease urgency This step involves creating a sense of urgency among the people so as to motivate them to move forward towards objectives.Build the team This step of Kotter’s change management theory is associated with getting the right people on the team by selecting a mix of skills, knowledge and commitment.Get the vision correct This stage is related to creating the correct vision by taking into account, not the just strategy but also creativity, emotional connect and objectives.Communicate Communication with people regarding change and its need is also an important part of the change management theory by Kotter.Get things moving In order to get things moving or empower action, one needs to get support, remove the roadblocks and implement feedback in a constructive way.Focus on short term goals Focusing on short term goals and dividing the ultimate goal into small and achievable parts is a good way to achieve success without too much pressure.Don’ t give up Persistence is the key to success, and it is important not to give up while the process of change management is going on, no matter how tough things may seem.Incorporate change Besides managing change effectively, it is also important to reinforce it and make it a part of the workplace culture.Benefits of this modelThis is a step-by-step model that is easy to follow and incorporate.The main idea behind it is to accept the change and prepare for it rather than changing itself.Disadvantages of this modelSince it is a step-by-step model, no step can be skipped to reach the one after that.The entire process given in this model can be very time-consuming.4)   Nudge TheoryNudge Theory or Nudge is a concept that finds use in behavioral science, economics, and political theory but can be applied to change management in organizations and businesses as well. This theory is mainly credited to Cass R. Sunstein and Richard H. Thaler. Nudging someone or encouraging and inspiring them to change is the basic essence of this theory. Nudge theory is not only helpful in exploring and understanding existing influences but also explaining them to either eliminate them or change them to an extent where positives may begin to be derived.It is important to note that there are many unhelpful ‘nudges’ around which can either be deliberate or may just be accidental. What this theory mainly seeks is to work upon the management as well as the understanding of the many influences on human behavior that lead to the changing people. It focuses on the design of choices which is responsible for directing our preferences and influencing the choices that we make. What this theory says is that choices must be designed in such a way that it can be aligned with the way people think and decide.As compared to other theories, Nudge Theory is more sophisticated in its approach and is radically different from other ways of transitioning. This theory eliminates traditional change methods like punishment enforcement and direct instructions. One of the main benefits of this theory is that it takes into account the difference in feelings, opinions, and knowledge of people and also considers the reality of the situation as well as the characteristics of human nature and behavior. It thus minimizes resistance from employees of a company and is very well applied in several industries.5)   ADKAR modelADKAR model or theory of change is a goal-oriented tool or model which makes it possible for the various change management teams to focus on those steps or activities that are directly related to the goals it wants to reach to. The goals, as well as the results derived and defined using this model, are cumulative and in a sequence. This means that while using this model, an individual must get each of the outcomes or results in a certain orderly fashion so that the change can be sustained and implemented. The model can be used by managers of change to find out the various ho les or gaps in the process of change management so that effective training can be offered to the employees. The following are some of the things for which this model can be used:To provide help and support to employees to go through the process of change or transitioning while the change management is taking place.To diagnose and treat the resistance shown by employees towards change.To come up with a successful and efficient plan for the professional as well as personal improvements of employees during the change.ADKAR Model basically stands forAwareness of the need and requirement for changeDesire to bring about change and be a participant in itKnowledge of how to bring about this changeAbility to incorporate the change on a regular basisReinforcement to keep it implemented and reinforced later on as well.Benefits of ADKAR ModelThe model offers the capability of Identification and evaluation of the reasons why changes made are not working and why desired results are not being obtained.The model makes it possible for one to break the changes into different parts and then figure out the point where change may not be as effective as planned.It offers both business dimension of change as well as people dimension of change.6)     Bridges Transition ModelBridges‘ transition model was developed by William Bridges who is a change consultant, and this theory came into the eye of the public after it was published in the book Managing transitions. The specialty of this model or theory is that it concentrates and focusses upon transition and not change as such. The difference between transition and change may be subtle, but it is important to understand it. Where transition on one hand is internal, change on the other is something that happens to people, even when they dont realize it. Transition is something that happens to people when they are going through the change. Change can be instant, transition may take time.The model focuses on three main stages that are given as follows:Ending, Losing, and Letting Go When people are first introduced to change, they may enter this first stage that is marked with resistance and emotional discomfort. Some of the emotions experienced at this stage include fear, resentment, anger, denial, sadness, frustration and most of all-disorientation. One has to realize that he/she is coming near to a certain end so as to accept new beginnings.The Neutral Zone This is the stage of uncertainty, impatience, and confusion. This stage can be considered as the bridge between the old and the new when people are still attached to the old but trying to adapt to the new. This stage is associated with low morale and reduced productivity, and one may experience anxiety and skepticism as well when going through this stage. But despite this, the neutral zone may also include innovation, renewal and a burst of creativity.The New Beginning When the neutral phase is passed through support and guidance, the stage of accepta nce and energy enters the picture. At this level, people begin to embrace the change and understand its importance. They are beginning to build the skills needed to reach the new goals and may start to experience benefits of the change already. It is associated with high levels of energy, new commitment and a zest to learn.7)   Kübler-Ross Five Stage ModelThe Kübler-Ross five stage model was developed by Elisabeth Kübler-Ross after she pursued her research on the dying and death. This model is also thus known as the Grief Model as it talks about the various emotional states and stages a person goes through when he/she discovers that he/she may be nearing their end. The model can also be applied to other life situations such as loss of job, changes in work and other less serious health conditions. The model helps to understand and deal with personal trauma and has been widely accepted worldwide. The following are the various stages that are associated with the Kübler-Ross model: Denial Denial is the first stage of the model and is a stage when one is unable to accept the news. It is like a buffer or defense that a person tends to create due to the inability to absorb the news. One may experience shock as well as a sense of numbness during this stage and this happens because every person shows resistance towards change and may not want to believe what is happening.Anger When the news actually gets absorbed, then the first reaction is usually that of anger. The denial converts into anger when one realizes that the change will actually affect them and is for real. One starts looking for someone to blame during this stage. For different people, there can be different ways of directing anger.Bargaining The next step or stage involves bargaining so as to avail the best possible solution out of the situation or circumstance. Bargaining is a way for people to avoid ending up with the worst case scenario and is a natural reaction to avoid the extreme change.Depre ssion When one realizes that bargaining isn’t working, he/she may end up getting depressed and may lose all faith. This is the phase when one is not bothered by anything and moves into a sad and hopeless state of mind. There are many ways to observe or identify depression and some of them include low energy, non-commitment, low motivation and lack of any kind of excitement or happiness.Acceptance When one realizes that there is no point in being depressed or fighting change, he/she may finally accept what is happening and may begin to resign to it. There are different ways in people handle this stage. While some may begin to explore the options left with them to make the most of the situation, others may just feel that no option is left for them and may just resign to destiny.

Pronouncing Spanish Vowels

English speakers generally find the pronunciation of Spanish vowels fairly easy. Close approximations of all their sounds exist in English, and, with the exception of the E and the sometimes silent U, each of the vowels has basically one sound. The main thing to keep in mind is that in Spanish the vowels sounds are generally more distinct than they are in English. In English, any vowel can be represented by whats known as the schwa, an unstressed vowel sound such as the a in about, the ai in mountain, and the u in pablum. But in Spanish, such an indistinct sound isnt used. Although, as in most languages, the sounds of the vowels can vary slightly with the letters before and after them, in general the sound remains the same regardless of the word its in. Pronouncing the 5 Vowels First, the more or less invariable sounds: A is pronounced similarly to the a in father or the o in loft. Examples: madre, ambos, mapa. There are some speakers who sometimes pronounce the a something halfway between the a in father and the a in mat, but in most areas the first sound given is standard. See also the lesson on pronouncing the . I is pronounced similarly to the ee in feet and the e in me, although usually a little briefer. Examples: finca, timbre, mi. This letter is covered in more detail in the lesson on pronouncing the i. O is pronounced like the oa in boat or the o in bone, although usually a little briefer. Example: telà ©fono, amo, foco. See the lesson on pronouncing the o for more information. Now, the two vowels whose sound can change: E is generally pronounced like the e in met when it is at the beginning or within a word. It is pronounced similarly to the Canadian eh, kind of a shortened version of the à © in the English cafà ©, when it is at the end of the word. Sometimes it can be somewhere between those two sounds. Its not quite the sound of the English letter A, which if pronounced slowly often has an ee sound at the end, but closer to the e of met. Keep in mind that even when its at the end of the word, in a sentence it may sound more like the e of met. For example, in a phrase such as de vez en cuando, each e has approximately the same sound. Examples: cafà ©, compadre, embarcar, enero. See also the lesson on pronouncing the e. U is generally pronounced like the oo in boot or the u in tune. Do not pronounced it like the u in uniform. Examples: universo, reunià ³n, unidos. In the combinations gui and gue, as well as after q, the u is silent. Examples: guà ­a, guerra, quizà ¡s. If the u should be prono unced between a g and i or e, an umlaut (also called a dieresis) is placed over it. Examples: vergà ¼enza, lingà ¼ista. This letter is covered in more detail in the lesson on pronouncing the u. Diphthongs and Triphthongs As in English, two or three vowels in Spanish can blend together to form a sound. The sound is basically the sound of the two or three vowels rapidly pronounced. For example, the u when followed by an a, e, i or o ends up sounding something like the w in water. Examples: cuaderno, cuerpo, cuota. The ai combination sounds something like the sound of eye. Examples: hay, airear. The i when followed by an a, e or u sounds kind of like the y in yellow.: hierba, bien, siete. And other combinations are possible as well: miau, Uruguay, caudillo. Pronouncing Y Generally, the y is pronounced the same as it would be if it were an i, as part of a diphthong. Examples: rey, soy, yacer. Some words that are derived from English and have a y at the end often retain the English pronunciation. For example, in popular songs you may hear words such as sexy and phrases such as oh baby. This letter is covered in more detail in the lesson on pronouncing the y.

Same-Sex Adoption Essay example - 930 Words

Change the World Imagine that you are with the person of your dreams. They are smart, sweet, intelligent, your parents even approve of them. You have gotten to the point in your relationship where you want to have a family, but like lots of families in the US, you are not able to conceive a child, so you do what any loving couple would do, you try to adopt a child. You get dressed up, get your papers together and go to the adoption agency only to find out that it is illegal for you to adopt a child. One of the most controversial issues surrounding American today is allowing same-sex couples to adopt a child. Over the last decade, America has seen a frequent number of people â€Å"come out† in their lives. Because of this, we have seen more†¦show more content†¦Which leaves 35 states where gay couples aren’t sure how likely an adoption petition will pass (Ruggeri). For over 30 years Florida has been very outspoken about their views on gay, especially ever since Anita Bryant was campaigning against gay and lesbian rights in 1977. Florida courts argue that â€Å"children are better off raised in a two parent heterosexual household† (Beige). There are no proven facts that children are raised better with straight parents. It should be the other way around, Beige proves with â€Å"scientific studies show children who’ve been raised with one or two parents who are gay or lesbian fare just as well emotionally and socially.† Beige also s tates that critics who are against gay adoption will argue children who are raised by gay or lesbian parents will be subjected to harassment and ridicule. Then again, aren’t the majority of children subject to being harassed in school? According to the Rainbows Families Council there research has found that gender role behavior is the same i.e. children playing the gender typical games, same games such as football, basketball, and also found no difference in the child in academically intelligence and physically. Also they found that the children’s emotional function was no different. Along with Rainbows Families Council, Paige Averett, an assistant professor of social work at East Carolina University, said in a statement, â€Å"We found that sexual orientation of the adoptive parentsShow MoreRelatedAdoption With Same Sex Couples1162 Words   |  5 PagesNovember 2017 Adoption with Same-sex Couples Adoption is when a child is removed from their home and are now under protection of another family. They can be related or unrelated to the child. It can be great for children, as they can live a better life than they would have had with their birth parents. The children may have endured abuse or neglect and need to get out of the situation, or the parents could have not thought that they were able to take care of the child. Either way, adoption is made toRead MoreSex Marriage And Same Sex Parental Adoption1482 Words   |  6 Pages2017 The topics of same-sex marriage and same-sex parental adoption have been controversial and ongoing topics in recent years, which is a drastic change in mainstream society. People of the lesbian, gay, bisexual, and transgender (LBGT) community have had a difficult time in gaining visibility and equal civil liberties, one of which is marriage equality. Same-sex couples have only recently been recognized under the law as legal candidates for marriage rights, and adoption is now an additionalRead More Same Sex Parenting and Adoption Essay1902 Words   |  8 PagesAdoption for same sex couples is a very controversial topic in Family Law, and often same sex couples face many unique issues if they wish to adopt. Many states have different laws that apply for gay and lesbian adoption, as opposed to heterosexual couples. Several states also have special rules that apply when a child is born into a gay or lesbian partnership. Gay and lesbian couples may sometimes opt to bring a child into th eir lives through conception and birth as well. For a lesbian couple, thisRead MoreEssay on Same Sex Couples Adoption Rights2243 Words   |  9 PagesShould Same Sex Couples Have the Same Adoption Rights as Heterosexual Couples? Krystal Davis COM/220 March 13, 2012 Barbara Plyler Should Same Sex Couples Have the Same Adoption Rights as Heterosexual Couples? In 2008, President Barack Obama stated there are too many children who need loving parents to deny one group of people adoption rights (eQuality, 2005). A child will benefit from a healthy, loving home, whether the parents are gay or not (eQuality, 2005). With thatRead MoreEssay about Same-Sex Marriage and Adoption Should Be Legal703 Words   |  3 PagesSame-sex marriage and adoption should be legal, it should be allowed in every state, everywhere. As of 2014, only 17 states have legalized marriage rights to same-sex couples. The other 34 states have banned gay marriage through law, constitutional amendments, or both. For example, the Pennsylvania Governor won’t challenge overturning of same-sex marriage ban. State Attorney General Kathleen Kane has also announced that she will not defend Pennsylvanias same-sex marriage ban because of what sheRead MoreIts Time for Legalization of Same Sex Adoption Around the Country1352 Words   |  6 Pagessuccess of the children, and future generations. How can we say that when thousands of children are in foster care to this day? To confront this problem states must realize that adoption to homosexuals is a great opportunity, not by just giving children homes, but also allowing them to experience the lifestyle that same-sex patents present. In addition, the government has to realize that religion should not play a role in whether or not gays should be able to adopt as a couple. People always say theyRead MoreSame Sex Adoption609 Words   |  3 PagesRiley Dugan English III Mrs. Johnston May 13, 2014 Same-Sex Adoption Throughout the past few years, the subject of same-sex adoption has been caught in the crosshairs, due to the fact that it is a particularly controversial topic. Many people have the idea that a child cannot be raised properly without the traditional upbringing of both a man and a woman as parents. While the traditional form of parenthood is great, a same-sex couple can also sufficiently raise a child to become a moral, strongRead MoreSame Sex Adoption1409 Words   |  6 Pagesgays and lesbians have the same rights to adopt as heterosexuals? The laws of most states permit an unmarried person to be an adopted parent. However, many states have enacted laws limiting and in some cases prohibiting, lesbian and gay men from adopting. Adoption of children by lesbian and gay men remains controversial. A court must first find that the best interest of the child will be served by the adoption. Some courts have strongly rejected the notion that adoption by a lesbian or gay parentRead MoreSame Sex Adoption Is Controversial1443 Words   |  6 PagesSame-Sex Adoption Since the 1990’s approximately 8-10 million children in the US alone are raised in a Lesbian, Gay, Bisexual, or Transgender (LGBT) household. Same-Sex Adoption is controversial because many people throughout the world are against LGBT adoption; but when faced with the number of kids who pray everyday for someone out there wanting to be the parent of a foster child, it is difficult to understand why the topic of gay adoption is controversial. Yes, there can be a bad outcome butRead MoreGay Parent Adoption And Same Sex Adoption1851 Words   |  8 Pages Gay parent adoption or same-sex adoption refers to the adoption of children by individuals who prefer romantic partners of the same sex--gays and lesbians. Same-sex adoption is portrayed by the media as being a potentially good thing but with potentially detrimental side effects, most notably for the adopted children. This type of adoption is often made to look as if it might well be done but perhaps should not be for the sake of the children involved. With groups such as the religious right, fundamentalist

Monetary Policy and Its Impact on the Recession Free Essays

Running head: MONETARY POLICY/MACROECONOMIC IMPACT PAPER Monetary Policy/Macroeconomic Impact Paper Heather Robinson University of Phoenix MMPBL 501 04/25/2010 Introduction The Federal Reserve Board (FED) utilizes tools to control or manipulate the money supply, these tools affect macroeconomic factors such as inflation, unemployment and interest rates, which ultimately determine a country’s GDP. To recommend the best monetary policy combination I will discuss the tools used by the feds, explain how money is created and also illustrate the effect of the money supply on the economy. It is the money supply which determines the rate of inflation, unemployment and economic growth. We will write a custom essay sample on Monetary Policy and Its Impact on the Recession or any similar topic only for you Order Now Tools Used by The Federal Reserve To Control Money Supply. The Fed has three main tools for controlling the money supply these are their Open Market Operations, The Discount Rate, and The Reserve Ratio. These tools can be used to alter the reserve ratios of the commercial banks which in turn determine the money supply. â€Å"The money supply consists of currency (Federal Reserve Notes and coins) and checkable deposits. The U. S. Burea of Engraving creates Federal Reserve notes and the U. S. Mint creates the coins. †(McConnell Brue 2004) â€Å"By purchasing government bonds, (securities) the Fed increases the reserves of the banking system which then increase the lending ability of the commercial bank,†(McConnell Brue 2004) and the money supply available. Selling bonds will also achieve the opposite results namely reduce the money supply by reducing the reserves of the bank. The central bank desires to be a lender of last resort. When the commercial bank borrows it gives the Fed a promissory note drawn against itself and secured by acceptable collateral. The Fed charges interest on the loans which is called the discount rate. The new reserve obtained by borrowing from the Fed immediately becomes excess reserves as no required reserve needs to be kept for loans received from the Fed. Thus by reducing the discount rate, commercial banks can be encouraged to borrow from the Fed which directly increases their excess reserves and their ability to lend, so the money supply is increased. The opposite can also be done to reduce the money supply. The Fed can also manipulate the reserve ratio as a means of affecting the ability of commercial banks to lend. If the Fed increases the reserve ratio the commercial bank is forced to reduce its checkable deposits in order to increase its reserves to the new minimum requirement. It might also be forced to sell some bonds in order to increase its required reserves, and both scenarios would result in a reduction of the money supply. By lowering the reserve ratio the commercial banks reserve is transformed into excess reserve which increases the banks capability of lending, which increases the money supply. â€Å"Interest rates in general rise and fall with the federal funds rate. The prime interest rate is the benchmark rate that banks use as a reference point for a wide range of interest rates on loans to business and individuals. † (McConnell Brue 2004) Therefore when the Fed changes the discount rate it also changes the prime interest rate. A lower discount rate is passed on to consumers who then are able to obtain lower interest rates for mortgages and credit cards which increases their disposable income. This higher disposable income then results in more demand for goods and services which causes an increase in the supply of these goods to meet the increasing demand. Also an increase in the money supply and more money to lend by the banks result in more credit for businesses who are then able to purchase more materials to produce more or invest into the expansion of their businesses. The end result is that more goods and services are being produced as a result of the increase in money supply, which is beneficial to the country’s GDP. â€Å"In brief, the impact of changing interest rates is mainly on investment (and, through that, on aggregate demand, output, employment and the price level). Moreover investment spending varies inversely with the interest rate. †(McConnell Brue 2004) The Creation of Money Money creation occurs in two main ways, the creation of base money, mostly currency notes created by the Federal Reserve. The second process involves checking account or deposit money created by commercial banks, which makes up most of the money supply. Base money is created when the Fed performs open market operations. The Fed injects money when it purchases Government securities, by creating it. Almost all money we come by has its basis in money that the Fed invented Once this money has been created approximately ten times as much can be created by banks in checking accounts and deposits. They accomplish this by granting loans to the public, a corresponding amount of checking account money is created with each new loan. So money is created when the money supply is increased. Using expansionary monetary policy, decreasing the reserve ratio and discount rates, or buying bonds and securities result in money being created. State of the Economy With regards to the U. S. conomy, it has â€Å"contracted further since the beginning of the recession, and the labor market worsened over the first half of 2009†. according to the published monetary policy report to the congress. (MPRC July 2009) Economic activity decreased sharply and strains in financial markets and pressures on financial institutions overall intensified. (MRPC July 2009. ) However the negative activity appears t o be abating, unemployment has continued to increase but at a slower pace, while inflation has been minimal. To date the credit conditions continue to be restrictive and it is still difficult for businesses and households to receive credit. The U. S. real gross domestic product (GDP) was less than the first quarter of 2009, though it seems that the† contraction of overall output looks to have moderated somewhat of late. â€Å"(MPRC July 2009). Consumer spending was increased due to the tax cuts and increases in various benefit payments received as part of a stimulus package, which increased disposable incomes. The housing market has experienced some stabilization in the demand for new houses after three years of persistent declines. Businesses however have continued to decrease their capital spending and liquidating of inventories due to reduced demand and excessive stocks. More recently foreign demand has also dropped for U. S. products which produced a reduction in U. S. exports and the U. S. demand for imports also fell. Concerns of the Federal Reserve and Directions of Recent Monetary Policy The Federal Reserve policy action has focused on facilitating economic recovery and encouraging the flow of credit, which brought the federal funds rate down to a historic low rate of zero to one quarter percent, and also purchased additional agency (MBS) mortgage backed securities. MPRC 2009) â€Å"Overall consumer price inflation which slowed sharply late last year remained subdued in the first half of this year, as the margin of slack in labor and product markets widened considerably further as prices of oil and other commodities retraced only a part of their earlier steep declines. †(MPRC2009)There is no effort to control inflation which seems to be under control so all emphasis is been placed on assisting the economy in recovering from the recession using monetary policies. In addition to reducing the federal funds rate and purchasing securities, the Fed continued to provide funding to financial institutions and markets using a variety of credit and liquidity facilities. Recent monetary policy actions include the decision of the Federal Open market Committee (FOMC), to expand its purchases of agency MBS and agency debt and to commence the purchasing of longer-term treasury securities to assist in improving the conditions in private credit markets. The fed also announced it will expand the eligible collateral under the TALF program, which is the recently launched Term Asset-Backed Securities Loan Facility. In June 2009, at the FOMC meeting, the members of the Board of Governors of the Federal Reserve System and presidents of the Federal Reserve Banks provided projections for economic growth, unemployment and inflation, these projections included the expectation of â€Å"real GDP to bottom out in the second half of this year, and then move onto a path of gradual recovery, bolstered by an accommodative monetary policy, government efforts to stabilize financial markets, and fiscal stimulus. † (MPRC2009) It was also projected that conditions in the labor market would continue to eteriorate, and then improve slowly over the next two years, and inflation would remain subdued in 2010 and 2011. Recommended Monetary policy When trying to recover from a recession and stimulating economic growth it is possible to increase inflation due to the increase in money supply if the expansionary policies are prolonged. There has to be a balance which will reduce unemployment, deter inflation and ye t promote economic growth. Monetary policy has been the best choice to manipulate the money supply as it is flexible, prompt and isolated from political pressure. McConnell Brue 2004) The Fed can utilize open market operations, discount rate and the reserve ratio to achieve a balance between inflation, economic growth and unemployment. If the expansionary monetary policies result in too much spending and increased inflation, it can be curbed by selling securities, or increasing the discount rate and reserve ratios of the commercial banks. In the University of Phoenix simulation, the scenarios represented opportunities to utilize monetary policies to curb inflation, unemployment and increase GDP. The solution was the effective manipulation of the discount rate, reserve ratio, and open market operations. What was noticeable was that when the money supply increased so did inflation, and the unemployment rate is inversely related to the GDP. When the GDP increased unemployment fell. Conclusion The three tools of monetary policy which include, open market operations, the discount rate and the reserve ratio are quite effective in the application of expansionary or restrictive monetary policies to combat recessions or curb inflation. Whenever the Fed lowers the discount rate or the reserve ratio they increase commercial banks lending which stimulates aggregate demand and investment. The most effective tool seems to be the open market operation which is utilized more frequently, as the Government buys and sells securities often to manipulate the commercial bank’s reserves. Monetary policy is most effective due to speed and flexibility, it is free from political pressure and can be quickly utilized to respond to inflation and unemployment, and to create economic growth. References Bankers Research Institute, The Wizards of Money Part 1: How Money Is created. Retrieved April 26, 2010 from http://www. altruists. org/static/files McConnell, C. Brue, S. (2004). Economics: Principles, Problems, and Policies, 6th ed. McGraw-Hill Irwin. Monetary Policy Report to the Congress, July 21, 2009. Retrieved April 26, 2010 from http://www. federalreserve. gov/monetarypolicy/mpr_20090721_part1. htm University of Phoenix. (2010). Simulations Monetary Policy [Computer Software]. Retrieved from University of Phoenix, Simulation MMPBL 501 website. How to cite Monetary Policy and Its Impact on the Recession, Papers

Oedipus Essays (763 words) - Greek Mythology, Oedipus The King

Oedipus In Sopohocles' tragedy "Oedipus the King", Oedipus proclaims " it was I who have pronounced these curses on myself" (Madden 37). With this announcement, Oedipus is aware that his pursuit for order has led to a life of chaos. The central thesis is that the presumption of order establishes physical, intellectual, and spiritual chaos. The text's reference to the sphinx, Oedipus, and Tiresias creates this notion. These three literal signifiers are the metaphoric symbolizers of physical, intellectual, and spiritual chaos. The concept of physical chaos is first introduced during the first speech of the priest when reference is made to the "harsh singer" (Madden 37), the sphinx. In greek mythology, the sphinx is recognised as a hybrid creature with a woman's head, a lion's body, an eagle's wings, and a serpent's tail. In reality, "the virgin with the crooked talons" (Madden 48), is a unique archetype for many things in one single being. The sphinx is an epitome of destruction and chaos who establishes "the tax [they] had to pay [her]" (Madden 17) because she devourers all who fail to answer her riddle. Her domination of Thebes causes havoc and melancholic responses that are directly related to the degree of her physical chaos. The confrontation between Oedipus and the sphinx ends with the latter destroying herself, "the winged maiden came against him: he was seen then to be skilled" (Madden 29), due to Oedipus answering her riddle. By destroying herself, the sphinx makes it possible for the oracles to come true. With her reign of terror at an end, the sphinx makes it possible for Oedipus to continue with his life in pursuit of order. Chaos is established because of the opportunity for the prophecies to become an actuality. The physical appearance of the sphinx and her self- destruction foreshadow chaos for Oedipus in the near future. As the sphinx is the measure of highest physical chaos, so Oedipus is a measure of utmost intellectual chaos. Oedipus, being the king of Thebes, portrays qualities that signify intelligence, fortitude, and freedom from doubt. Oedipus' intelligence is prominent upon knowledge of his ill faith; Oedipus, in his present state of mind, interprets the prophecies made to him literally. This course of action assists in the accomplishment of the oracles. "[Phoebus] said [Oedipus] would be [his] mother's lover, show offspring to mankind [that] they could not look at, and be his [father's] murderer. When [Oedipus] heard this, and ever since, [he] gauged the way to Corinth by the stars alone, running to a place where [he] would never see the disgrace in the oracle's words come true." (Madden 37). By trying to set down a systematic life, Oedipus ironically commits the "wretched horrors" (Madden 37) he intends to avoid, thus coming to the realization that "[he] struck them with his hand"(Madden 52). Oedipus answers the riddle of the sphinx "and stopped her-by using thought" (Madden 26). By doing so, Oedipus' reward for freeing Thebes was the throne and the hand in marriage of the widowed Jocasta. His intelligence-driven fulfilment of the prophecies induced chaos because "[her] riddle wasn't for a man chancing by to interpret, prophetic art was needed" (Madden 26). The realization that "[he has] pronounced these curses on [himself]" (Madden 37) depicts how Oedipus establishes intellectual chaos because the choices he makes to secure order in his life strangely enough provoke a chaotic time to come. The mention of Tiresias in the play signifies spiritual chaos. He is a blind but wise prophet who "sees more [...] than Lord Phoebus" (Madden 24). Tiresias knows the truth about Oedipus and states: "he'll be shown a father who is also brother; to the one who bore him, son and husband; to his father, his seed-fellow and killer" (Madden 28). Tiresias has "the strength of the truth" (Madden 25) and chaos evolves when he does not speak of the truth he knows. With this, Oedipus accuses him of being "[part] of [the] plot [to murder Laius]" (Madden 26), when in reality, "[Oedipus is the] enemy" (Madden 27). Tiresias is blind due to natural causes, but when Oedipus tries to achieve his level of wisdom, all that is obtained is chaos. "[H]e snatched the pins [...] and struck [them] into [his eyeballs]" (Madden 50) in attempt to see spiritually. Tiresias deceives Oedipus unintentionally into believing that wisdom can be achieved by blindness; Tiresias says: "since you have thrown my blindness at me: Your eyes can't see the evil to which you've come" (Madden 27). This incident depicts how Tiresias' order establishes chaos for Oedipus. Acquiring order cannot exist