Ethics and Values in My Life Free Essays

Ethics and Values in my life There are many values that revolve around my life for a better life, but the 5 important ones are: 1. Integrity  Ã¢â‚¬â€œ Do the right thing! This is the most import value and I consider it to be the foundation of achieving a better life. 2. We will write a custom essay sample on Ethics and Values in My Life or any similar topic only for you Order Now Courage-  Face your fears accept and take on new challenges. The moral and mental strength that allows for the acceptance of new challenges without regards to the fear that may lie beneath. 3. Contentment  Ã¢â‚¬â€œ The pursuit of contentment is a state of mind established by fulfilling your basic needs. 4. Action- Do not wait until tomorrow when it can be accomplished today. 5. Respect  To treat people as you would like to be treated. I operate on two value systems in my professional life. This is not necessarily a negative approach since they don’t conflict with each other in fact, they go hand in hand. I believe that your personal values drive your professional values. You don’t just develop professional relationships in a work environment but informal relationships too and sometimes they can be more important as it can drive people to take decisions for the benefit of the organization. For example, having good ties with your direct subordinates can help to retain employees. One can’t always put a price on a comfortable business environment and it maybe the reason workers remain loyal to the organization. In another instance, to achieve contentment one works hard to have access to basic needs and that means doing your job well which is in line with professional competence at work. Before I took admission in the MBA program, I worked as a business partner of a small clothing business in my country. My partner was a good friend and my decision to start a business with her was her commitment to providing unique designs of clothes that maximized customer satisfaction. I often thought of expanding the business but she decided to grow slow as fast expansion can often be uncontrolled and it can cause compromise on quality. Although I agreed with her premise, I thought it could be done in a harmless way. I was approached by an acquaintance who offered to supply cloth for our business. I jumped to the idea as one part of expansion was to build a strong supply chain. I discussed the idea with my business partner who was interested but pointed out that we can’t just take this decision because I knew the potential supplier personally. We have to carry out research before we make a decision since we can’t risk our business and the money of our two investors. While we tried to establish an idea of the reputation of the supplier, I was offered generous gifts by her and was tempted to take her offer because I assumed her principles and commitment to perfection on the basis of what I knew of her past. She also offered to invest in our business which was a very attractive offer. A person who had a personal stake in the business would ensure best standards of operation. From what we got to know about her business was that it supplied cloth of not very good quality, which would affect the quality of our product and could bring disrepute to the business. This actually challenged one of my value ‘objectivity’. For the benefit of our business, I was required to be objective and not let her gifts to cloud my judgment. This was in line with maintaining integrity since we had a customer base that trusted us and we were required to deal fairly with them. It required courage on my part to reject her offer but it was what I needed to do for the benefit of the business and its stakeholders. I am actually very content that I was able to stand firm and did not throw away my beliefs just for some material gains. How to cite Ethics and Values in My Life, Essay examples

Collective Organizational Citizen Behavior -Myassignmenthelp.Com

Question: Discuss About The Collective Organizational Citizen Behavior? Answer: Introducation The essay aims at focusing on the organizational behavior in the perspective of an organizational setting. Organizational Behavior refers to the study of the behavior of people both at an individual level and within formal and informal groups. The performance of every operations depends on the motivational level of its employees and the ability and willingness of people in working harmoniously toward a common goal. In other words, organizational behavior acts as an interface between organization and human behavior. Each individual contributes unique set of characteristics, personal background and experiences that they have gathered in other organizations. Manager must consider the unique aspect of individuals and put them forward in a work setting. The essay put forward discussion on the various theories of organizational behavior in an organizational setting. The essay also evaluates organizational problem situations and discusses the proactive managerial intervention based on cultu ral, ethical and social concern. The essay also focuses on comparing and criticizing the findings on the current developments of organizational behavior. There are various theories of organizational behavior that can be applied organizational setting. This theory includes classical organization theory, neo classical organization theory, contingency theory and the systems theory (Gagn, Sharmaand De Massis2014). Classical theory represents a combination of scientific management theory, administrative theory and the bureaucratic theory. The scientific management theory represented four basic principles. This includes the best way of performing the task, carefully matching each worker to each task, closely supervising workers and using punishment and reward as motivators and ensures control and planning. The theory of scientific management proved successful not in industrialized companies but also in modernized companies. The administrative theory focused on the establishment of universal management principles that is applicable to most organizations. The classical theory on the other hand is mechanistic and rigid. However, the major defi ciency of this theory was the explanation of the motivation of the people in working strictly as functions of economic reward (Miner2015). The neoclassical organization theory tried to address many problems that were inherent to the classical theory. This theory helps in displaying genuine concern for the needs of the human beings. According to the neoclassical organization theory, organization is defined as a system that helps in consciously coordinating activities (Young et al. 2014). This theory also stresses on the role of executive in creating a cohesive environment. As per this, theory, the managers authority defined by the acceptance of the subordinates and not by the hierarchical power structure of any organization. The Contingency Theory aims at focusing on the fact that conflict is manageable but inescapable (Battilanaand Casciaro2012). A study on four large corporations of United States proposed that organization would evolve naturally for meeting the needs of the strategy implemented. An organization however acts in a linear, sequential and rational manner for adapting to the environmental changes. Highly volatile organizations stresses on the importance of managers for making decisions at all the authority level. According to this theory, managers need to be free for making contingent decisions on the present situations. The Systems theory puts across the fact that there is an interrelation between all components of an organization and hence the change of a single variable might directly influence the others (Curtain and Zwart 2012). Most organizations are open systems that economics continuous interaction. However, as the organization adapt to environmental changes they remain in a dynamic equilibrium state. The system theory has a central theme that represents existence of non-linear relationships between variables. Thus, smaller changes in one of the variable lead to bigger changes in another. The nonlinearity concept adds complexity to the understanding of an organization. This nonlinearity makes it difficult in understanding the relationships between the variables. There are various issues and dilemmas in an organizational setting. and it ranges from simple disagreement to most complicated issues that influence the bottom line in a negative way. Understanding various problems in workplace helps in identifying and correcting them. Internal conflict is one the problem situations in an organization. Internal conflict may take place because of various reasons (Fordand Richardson2013). These include denial of promotion or pay hike, misunderstandings resulting from lack of proper communication, harassment by managers, supervisors or peers.Problem situations in organization might result in ethical issues. These includes, price breaks and discounts beyond the company practice and policy, unfair practices and employee theft. Team Dynamics also plays a major role in breaking or making a project or initiative of the business. The members of the team may try in promoting own agenda or take credibility for the work done by the other team members. Teamwork a lso ensures challenges in the form of differing ideas and views. This might pose a hindrance in reaching a workable solution in addition to creating distractions (Belbin2012). Problems in an organization may be due to leadership problems where most supervisors, managers and leaders refuse to follow the rules as most of the employees. This might have an in negative influence in the culture of the workplace. Workplace problems might also result from absence of company handbook that put forward procedures and policies. This results in lack of control and lack of continuity in the workplace direction. Formulation of Proactive Managerial Intervention helps the managers in effectively perform their duties (Branch, Ramsayand Barker 2013). Thus, understanding organizational behaviour help the managers in better understanding the behaviour of others in an organization. For instance, managers in an organization are responsible directly for the work related behaviour of other people and their subordinates. However, the typical managerial activities in this particular realm included employee motivation for working harder, ensuring proper design of the jobs of employees, conflict resolution, performance evaluation and helping workers for setting goals for achieving rewards. The organizational behavioural field is abounded with research and models that are relevant to each of the activities and ensures valuable insight. Managers can use the knowledge of organizational behaviour for understanding their own motives, needs, feelings and behaviour that helps them in improving the decision-making capabilities, better communicate, ensure stress control and comprehend how the dynamics of the career unfolds(Nielsen2013). The managers proactively intervene in dealing with the problem situations through the process of planning, organizing, leading and controlling. Planning refers to the process of determining the desired future position of an organization and the best possible means of reaching there. Organizing refers to the process of grouping jobs in units, designing jobs and establishing the patters of authority between the units and the jobs. Leading refers to getting the member of the organization for working towards the goals of the organization. Lastly, controlling refers to monitoring and correcting the actions of the organization and the members and keeping them directed towards a common goal. According to the current developments of organizational behaviour, researchers and managers using the ideas and concept of organizational behaviour should be able to able to recognize that it has a descriptive nature and interdisciplinary focus. The concept of organizational behaviour draws concepts from a number of other fields and attempts in describing behaviour instead of focusing on how behaviour is changed in predictable and consistent manner (Shin2012). The interdisciplinary focus shows how organizational behaviour helps in synthesizing other fields of study. In this context, the greatest contribution happens from the field of psychology referred as organizational psychology. Organizational psychology is a field of study where psychologists deal specifically with peoples behaviour in an organizational setting. However, this field of study also includes motivation and individual difference. Recently, medicine plays a key role in studying the human behaviour at work that especia lly involves the area of stress. Increasing amount of research has shown that controlling the consequences and causes of stress is an organizational setting is necessary for the well-being of the organization and the individual. Organizational behaviour has a descriptive nature because the prevalent immaturity of the field of study, inherent complexities in studying off the human behaviour and the lack of reliable, valid and accepted measures and definitions. Since the behavioural processes pervade the managerial roles and functions, therefore a proper understanding of the field significantly helps the managers in various ways (Harmsand Luthans 2012). There are several central concepts to the organizational behaviour categorized into individual processes, organizational characteristics and process and interpersonal process. There are several contextual perspectives of organizational behaviour that includes the contingency and system perspectives and situational perspective. According to the contingency and system perspectives, an organization is designed to receive four types of inputs that include, material, human, informational and financial(Sageer, Rafatand Agarwal2012). The managers of the organization then transforms and combines these inputs return them as services or products, profits or losses and employee behaviour. The situational perspective on the other hand shows that outcomes and situations influenced by the other variables. The essay concludes by analysing the findings of the current development of organizational behaviour. There are also discussions on the proactive managerial intervention and evaluation of organizational problem situations. The essay also puts forward a discussion on the theories of organizational behaviour on an organisational setting. Organizational behavioural study holds an importance since it has an influence over the lives of the people. This also have a direct relation to the management of the organization since managers requires a better comprehension of themselves and others at the different levels. References: Battilana, J. and Casciaro, T., 2012. Change agents, networks, and institutions: A contingency theory of organizational change.Academy of Management Journal,55(2), pp.381-398. Belbin, R.M., 2012.Team roles at work. Routledge. Branch, S., Ramsay, S. and Barker, M., 2013. Workplace bullying, mobbing and general harassment: A review.International Journal of Management Reviews,15(3), pp.280-299. Curtain, R.F. and Zwart, H., 2012.An introduction to infinite-dimensional linear systems theory(Vol. 21). Springer Science Business Media. Ford, R.C. and Richardson, W.D., 2013. Ethical decision making: A review of the empirical literature. InCitation classics from the Journal of Business Ethics(pp. 19-44). Springer Netherlands. Gagn, M., Sharma, P. and De Massis, A., 2014. The study of organizational behaviour in family business. European Journal of Work and Organizational Psychology, 23(5), pp.643-656. Harms, P.D. and Luthans, F., 2012. Measuring implicit psychological constructs in organizational behavior: An example using psychological capital.Journal of Organizational Behavior,33(4), pp.589-594. Miner, J.B., 2015.Organizational behavior 1: Essential theories of motivation and leadership. Routledge. Nielsen, K., 2013. How can we make organizational interventions work? Employees and line managers as actively crafting interventions.Human Relations,66(8), pp.1029-1050. Sageer, A., Rafat, S. and Agarwal, P., 2012. Identification of variables affecting employee satisfaction and their impact on the organization.IOSR Journal of business and management,5(1), pp.32-39. Shin, Y., 2012. CEO ethical leadership, ethical climate, climate strength, and collective organizational citizenship behavior.Journal of Business Ethics,108(3), pp.299-312. Young, M.N., Tsai, T., Wang, X., Liu, S. and Ahlstrom, D., 2014. Strategy in emerging economies and the theory of the firm.Asia Pacific Journal of Management,3

Medea monologue from the play by Euripides Essay Thesis Example For Students

Medea monologue from the play by Euripides Essay Thesis A monologue from the play by Euripides NOTE: This monologue is reprinted from The Plays of Euripides in English, vol. ii. Trans. Shelley Dean Milman. London: J.M. Dent Sons, 1922. JASON: I ought not to be rash, it seems, in speech, But like the skilful pilot, who, with sails Scarce half unfurled, his bark more surely guides, Escape, O woman, your ungoverned tongue. Since you the benefits on me conferred Exaggerate in so proud a strain, I deem That I to Venus only, and no god Or man beside, my prosperous voyage owe. Although a wondrous subtlety of soul To you belong, \twere an invidious speech For me to make should I relate how Love By his inevitable shafts constrained you To save my life. I will not therefore state This argument too nicely, but allow, As you did aid me, it was kindly done. But by preserving me have you gained more Than you bestowed, as I shall prove: and first, Transplanted from barbaric shores, you dwell In Grecian regions, and have here been taught To act as justice and the laws ordain, Nor follow the caprice of brutal strength. By all the Greeks your wisdom is perceived, And you acquire renown; but had you still Inhabited that distant spot of earth, You never had been named. I would not wish For mansions heaped with gold, or to exceed The sweetest notes of Orpheus\ magic lyre, Were those unfading wreaths which fame bestows From me withheld by fortune. I thus far On my own labours only have discoursed. For you this odious strife of words began. But in espousing Creon\s royal daughter, With which you have reproached me, I will prove That I in acting thus am wise and chaste, That I to you have been the best of friends, And to our children. But make no reply. Since hither Iolchos\ land I came, Accompanied by many woes, and such As could not be avoided, what device More advantageous would an exile frame Than wedding the king\s daughter? Not through hate To you, which you reproach me with, not smitten With love for a new consort, or a wish The number of my children to augment: For those we have already might suffice, And I complain not. But to me it seemed Of great importance that we both might live As suits our rank, nor suffer abject need, Well knowing that each friend avoids the poor. I also wished to educate our sons In such a manner as befits my race And with their noble brothers yet unborn, Make them one family, that thus, my house Cementing, I might prosper. In some measure Is it your interest too that by my bride I should have sons, and me it much imports, By future children, to provide for those Who are in being. Have I judged amiss? You would not censure me, unless your soul Were by a rival stung. But your whole sex Hath these ideas; if in marriage blest Ye deem nought wanting, but if some reverse Of fortune e\er betide the nuptial couch, All that was good and lovely ye abhor. Far better were it for the human race Had children been produced by other means, No females e\er existing: hence might man Exempt from every evil have remained.

Romeo And Juliet Deaths Essays (886 words) -

Romeo And Juliet Deaths William Shakespeare wrote many great plays in his day. His tale of Romeo and Juliet portrays a tragic love. This play ends with the deaths of the key characters Romeo and Juliet, because of their forbidden love. Many factors contribute to their demise. The scene of when they first meet, the fight between Tybalt and Mercutio, and the final death scene all reveal why the two of them cannot be together in the end. Romeo and Juliet are ultimately killed because of their decisions and fate. The effects of Romeo and Juliet's decisions and fate are first apparent in the scene when they first come together. When Romeo says to Juliet in the Capulet party, "Thus from my lips, by thine my sin is purged" (I,v,108), and then he kisses her, it obviously exhibitions how they exercise their choice to love each other. After discovering each other's identities, Romeo proclaims, "My life is my foe's debt" (I,v,119), and Juliet states, "My only love sprung from my only hate" (I,v,140). These lines foreshadow that there will be many impediments keeping them apart and eventually killing them both. It might be thought that the tragic ending is caused by them choosing to love each other. However, if fate does not bring them together in the first place, they will never have the opportunity to establish their love. Romeo and Juliet are affected by their choices and fate right from the beginning. Romeo's actions and chance also cause the chaos in Romeo and Mercutio's fight scene with Tybalt. When Romeo replies to Tybalt when he is first insulted and threatened on the street, "I do protest I never injure thee, but love thee better than thou canst devise" (III,I,67-8), it means he does not mean Tybalt any harm and is walking away from the fight. Then, Mercutio steps in for Romeo and starts fighting with Tybalt. Romeo gets between them, which allows Tybalt to kill Mercutio, and later results in Romeo killing Tybalt. It is very easy to point the finger at Romeo and accuse him of allowing Mercutio to be killed. His decision directly allows Tybalt to stab Mercutio, but he is trying work it out so no one will be injured, like peer mediation. Although he has no clue that he will do more harm, Romeo is actually trying to help. That's where fate affects him. Also, it can be said that Romeo is entirely responsible for killing Tybalt. When Romeo exclaims to Tybalt after he comes back from killing Mercutio, "And fire-eyed fury be my conduct now!" (III,I,123), it shows how he is furious and wants to fight. A lot of people say that Romeo has no need to fight, but what if he does not? Didn't something horrible happen the last time he walked away? Maybe Benvolio will start a fight with Tybalt and be killed as well. So fate does have a role in deciding the outcome. It is hard to conclude that everything will be all right for Romeo if he does not fight Tybalt. In this sense, the fight scene shows how fate and Romeo's decisions are responsible for two deaths and banishment. The final scene itself shows how Romeo and Juliet's decisions and fate lead to their deaths. Their destiny "A pair of star-crossed lovers take their life. . . doth their death bury their parents' strife" (1st prologue, 6-8), stated in the prologue, describes how they are foretold to die and many people agree that it is fate that ultimately causes their deaths. If the friar in Mantua arrives earlier to deliver Friar Lawrence's message or if Romeo arrives just a few minutes later in the Capulet tomb, it's possible that the finale would change. Even though fate will allow Romeo and Juliet to carry out their plan, they are the ones who decide to commit suicide in the first place. Juliet speaks to herself before she drinks the friar's potion: Come, vial. What if this mixture do not work at all? Shall I be married then tomorrow morning? No, no! This shall forbid it. Lie thou there." (IV,iv,21-3) After speaking, Juliet lays a dagger down beside her and that displays how she is prepared to kill herself instead of not seeing Romeo again. Also, Romeo says to the nurse in Friar Lawrence's cell, "Doth my name lodge? Tell me, that I may sack the hateful mansion" (III,iii,107-8) and offers to kill himself. Since there is virtually no chance of them being able to live together happily

Emily Murphy, Canadian Womens Rights Activist

Emily Murphy, Canadian Women's Rights Activist Emily Murphy (March 14, 1868–Oct. 27, 1933) was a strong advocate for Canadian women and children who led four other women, collectively called the Famous Five, in the Persons Case, which established the status of women as persons under the British North America (BNA) Act. An 1876 ruling had said that women are not persons in matters of rights and privileges in Canada. She also was the first female police magistrate in Canada and in the British Empire. Fast Facts: Emily Murphy Known For: Canadian womens rights activistBorn: March 14, 1868 in Cookstown, Ontario, CanadaParents: Isaac and Emily FergusonDied: Oct. 27, 1933 in Edmonton, Alberta, CanadaEducation:  Bishop Strachan SchoolPublished Works:  The Black Candle, The Impressions of Janey Canuck Abroad,  Janey Canuck in the West,  Open Trails, Seeds of PineAwards and Honors: Recognized as a  Person of National Historic Significance  by the government of CanadaSpouse: Arthur MurphyChildren: Madeleine, Evelyn, Doris, KathleenNotable Quote: We want women leaders today as never before. Leaders who are not afraid to be called names and who are willing to go out and fight. I think women can save civilization. Women are persons. Early Life Emily Murphy was born on March 14, 1868, in Cookstown, Ontario, Canada. Her parents, Isaac and Emily Ferguson, and her grandparents were well-to-do and highly educated. Two relatives had been Supreme Court justices, while her grandfather Ogle R. Gowan was a politician and newspaper owner. She was brought up on equal footing with her brothers, and, at a time when girls were often uneducated, Emily was sent to the prestigious Bishop Strachan School in Toronto, Ontario, Canada. While she was at school in Toronto, Emily met and married Arthur Murphy, a theological student who became an Anglican minister. The couple moved to Manitoba, and in 1907 they relocated to Edmonton, Alberta. The Murphys had four daughters- Madeleine, Evelyn, Doris, and Kathleen. Doris died in childhood, and some accounts say Madeline died at an early age as well. Early Career Murphy wrote four popular books of patriotic travel sketches under the pen name Janey Canuck between 1901 and 1914 and was the first woman appointed to the Edmonton Hospital Board in 1910. She was active in pressuring the Alberta government to pass the Dower Act, a 1917 law that prevents a married person  from selling the home without the consent of the spouse. She was a member of the Equal Franchise League and worked with activist Nellie McClung on winning voting rights for women. First Woman Magistrate In 1916, when she was prevented from attending a trial of prostitutes because it was deemed unsuitable for mixed company, Murphy protested to the attorney general and demanded that a special police court be set up to try women and that a female magistrate be appointed to preside over the court. The attorney general agreed and appointed Murphy as the police magistrate for the court in Edmonton, Alberta. On her first day in court, Murphys appointment was challenged by a lawyer because women were not considered persons under the BNA Act. The objection was overruled frequently and in 1917, the Alberta Supreme Court ruled that women were persons in Alberta. Murphy allowed her name to be put forward as a candidate for the Senate but was turned down by Prime Minister Robert Borden because the BNA Act still did not recognize women for consideration as senators. The Persons Case From 1917 to 1929, Murphy spearheaded the campaign to have a woman appointed to the Senate. She led the Famous Five in the Persons Case, which eventually established that women were persons under the BNA Act and so were qualified to be members of the Canadian Senate. Murphy became president of the new Federation of Womens Institutes in 1919. Murphy was active in many reform activities in the interests of women and children, including womens property rights under the Dower Act and the vote for women. She also worked to promote changes to the laws on drugs and narcotics. Controversial Causes Murphys varied causes led to her becoming a controversial figure. In 1922, she wrote The Black Candle about drug trafficking in Canada, advocating for laws against the use of drugs and narcotics. Her writing reflected the belief, typical of the times, that poverty, prostitution, alcohol, and drug abuse were caused by immigrants to western Canada. Like many others in Canadian womens suffrage and temperance groups of the time, she strongly supported the eugenics movement in Western Canada. Along with suffragette McClung and womens rights activist Irene Parlby, she lectured and campaigned for the involuntary sterilization of mentally deficient individuals. In 1928, the Alberta Legislative Assembly made the province the first to approve sterilization under the Alberta Sexual Sterilization Act. That law was not repealed until 1972, after nearly 3,000 individuals were sterilized under its authority. In 1933, British Columbia became the only other province to approve involuntary sterilization with a similar law that wasnt repealed until 1973. While Murphy did not become a member of the Canadian Senate, her work raising awareness of womens causes and changing laws to empower women was critical to the 1930 appointment of Cairine Wilson, the first woman to serve in the legislative body. Death Emily Murphy died of diabetes on Oct. 27, 1933, in Edmonton, Alberta. Legacy Though she and the rest of the Famous Five have been hailed for their support of property and voting rights for women, Murphys reputation suffered from her support for eugenics, her criticism of immigration, and her expressed concern that other races might take over white society. She warned that the upper crust with its delicious plums and dash of cream is likely to become at any time a mere toothsome morsel for the hungry, the abnormal, the criminals and the posterity of insane paupers.† Despite the controversies, there are statues dedicated to Murphy and other members of the Famous Five on  Parliament Hill in Ottawa and in the Olympic Plaza in Calgary. She also was named a  Person of National Historic Significance  by the Canadian government in 1958. Sources â€Å"Emily Murphy.†Ã‚  Biography Online.â€Å"Emily Murphy.† The Canadian Encyclopedia.Kome, Penney.  Women of Influence: Canadian Women and Politics. Toronto, Ontario, 1985. Doubleday Canada.

What have been the costs and benefits of Hong Kongs Currency Board Essay

What have been the costs and benefits of Hong Kongs Currency Board System since 1983 - Essay Example As a result, confidence in the HK dollar and economy began to diminish’ (Hanson). Also that year, the business scenario was not good – the stock market down by 50 percent, property market experiencing downturn and there were runs on the small banks. ‘The value of the HK dollar continued to decrease throughout the year and on September 24, 1983, reached an all-time low of HK$9.55 per US dollar’ (Hanson). ‘In less than a month, following a proposal made by Hong Kong business economist John Greenwood, the government announced that it would return to a currency board system, which would pursue an anti-inflationary policy and promote currency stability’ (Schuler). The CBA is an ‘idiosyncratic system since there is actually no currency board, and bank notes are issued by a few designated commercial banks, which alone deal directly with the monetary authority at the fixed exchange rate of HK$7.80 to the US dollar’ (Shu-ki Tsang). The CBA which was ‘also known as the â€Å"linked exchange rate system† or the â€Å"link† has revolved through several stages. From October 1983 – 1987, the Hong Kong government could not even define the monetary base and the theoretical forces of bank note arbitrage and competition did not seem to work’ (Shu-ki Tsang). The exchange rate was strengthened by the government interference in the foreign exchange market and interest rate handling. ‘To provide the Exchange fund with the necessary instruments to conduct â€Å"open market operations†, the Hong Kong government embarked on a series of programs to introduce Exchange Fund Bills (from March 1990) and notes (from May 1993). On the other hand, the LAF, set up in June 1992, allowed the Exchange... This study will critically analyze the costs and benefits of Hong Kong’s currency board system since 1983. The analysis of the essay is achieved in three main sections. First, currency board arrangement is defined. Moreover, the costs and benefits of Hong Kong’s currency board system since 1983 is investigated before finally concluding. ‘Currency board arrangement is a special case of a rules-based monetary system. It is a system based on rules rather than discretion that serves to establish credibility and avoid losses resulting from decisions that can sometimes be undertaken within a myopic timescale’ (Balino 1997). Hong Kong operated a ‘sterling exchange system from 1935 – 1973, excluding the years of Japanese occupation. The sterling exchange system is a currency board with note issue back by holdings of Sterling assets’ (Crosby 2000). Then, ‘between 1972 and 1974, the HK dollar was set at a fixed rate to the US dollar. From No vember of 1974 until the return of the currency board in 1983, the HK dollar floated freely against the US dollar’ (Hanson). Hong Kong being a Special Administrative Region of China is dependent on mainland demand but its monetary system is still attached to the U.S. If ever China retaliates against pressure for the trade protectionism in the United States, then Hong Kong would be caught in between. As for its disadvantages, people may doubt the willingness and competence of the government to continue ‘perfect convertibility at the specified rate’

Enviromental Science Essay Example | Topics and Well Written Essays - 250 words

Enviromental Science - Essay Example Biodiversity on the other hand is the variation of life forms and species within a given ecosystem (Spicer, 2009) If the need for biodiversity is not met there will be imbalance on the environment. The extraction of minerals has negative impacts on the environment in that it destroys the natural beauty of the environment. Extraction of minerals leaves behind large pits that act as water collection points which turn out to be breeding grounds for disease causing organisms according to Spicer (2009). Also during mining there is a lot of pollution from dust and bad smell. Energy resources may pollute the environment like it was the case in oil mining by the BP Company. Meat production involves rearing of animals and subsequent slaughter. The waste products from the animals if not dumped correctly leads to pollution of the environment. The slaughter houses produce an awful smell that is not friendly to the environment. Recycling of materials greatly contributes to environmental conservation. Also the by products of some of the companies can act as inputs to other companies for example the sugar companies and the molasses companies. During the semester I have gained a lot in regard to environmental conservation and the measures necessary to eradicate environmental pollution. One can engage in planting of trees, environmental conservation advocacy and educating the public on the need for environmental