Ethical case studies
Case study 1: Breach of Conduct
Martin has been enrolled in the postdoctoral research program in the company for the last one and a half years. He was assigned the main research laboratory and has since been working closely with Paul, Clifford, and Maryanne, technicians in the laboratory. The research Martin was working on is crucial to the company’s anticipated product launch, and there was a tremendous amount of pressure on Martin and his group to show results on the research project. In addition, the company had sunk a considerable amount of money into the development of the product and there was a high expectation on Martin to show returns on the investment made. Management was convinced that the project was theoretically well grounded and there ought to be a positive outcome from the research Martin was conducting. The company has a strict policy for its research scientists, especially for the junior scientists who are joining, where progression and retention within the company is linked to positive research outcomes. Due to financial constraints, the company has a relatively limited number of researchers working on projects, and sometimes it is not possible for an in-house re-assessment of research findings, especially in cases where projects are time-squeezed.
Details of situation
Quality assurance has been a challenge in the recent past, as the company has considerably cut its research and development budget in response to the hostile economic climate that has led to cash-flow problems. Researchers are expected to conduct their research under conditions of minimal oversight, and report findings without falsifying or fabricating data. The system largely depends on the integrity of the researchers and their assistants, presuming that they will observe best practices in their research and reporting of data findings. The company has not had any major incident of data falsification in the recent past, and hence the company sees the system as an efficient way of producing research at minimal cost. However, to safeguard the company’s reputation, products are sent to independent testers to give feedback on the performance before they can be released to the public.
Martin and his assistants were working on a software program developed by the company over the last two years, to be released within the year. They had to test the performance of the program under a number of conditions and report on the stability and effectiveness of the program under a number of conditions. There were concerns about the stability of the program when used over different platforms that delayed the release of the program, forcing the development team to rewrite the code in a bid to address the inherent weaknesses.
Martin was part of the development team and his research was to determine if the new changes in the program had addressed the observed weaknesses. Martin and his assistants produced a report showing that the program was stable and performed beyond expectation in all the parameters tested. The company generally does a considerable amount of in-house testing of its products before they are released to the public. The purpose of the testing is to ensure that products meet the industry specifications as well as perform to the advertised company specifications. The company generally has separate development and testing departments to avoid the possibility of conflict of interest in the testers. However, this arrangement has been under pressure in the recent past as the company reduced the number of active researchers in the payroll to cut down on operational costs. Consequently, it is not uncommon to have cases where the people involved in the development of a product also take part in the product’s testing.
The company forwarded the internal testing report and the program to independent industry testers before it could release the program to the public. However, at this stages number of problems became manifest. On testing the program independently, it was found that it performed below expectations in most of the parameters that Martin indicated otherwise. There was a considerable variance between the results obtained by the independent testers and those reported by Martin. It appeared that Martin based his data on the theoretical performance, rather than on the measured performance of the program.
Therefore, although his data was within the theoretical limits of performance, it did not reflect in the true performance of the program as tested in simulated working conditions. It is when the report of the independent testers was returned to the company that it became apparent that the data produced by Martin and the technicians he was working with was fabricated. The situation was detrimental to the reputation of the company because reports by independent industry testers are archived and can be accessed by any interested person easily. The large variance in company and independent test outcomes is especially bad as it paints the company in a bad light since, ideally, the outcomes should be similar when testing is professionally done.
Ethical basis for action
There is a clear conflict of interest in this case, considering that, Martin is involved in both the development and testing phases of the program, making his impartiality in the testing phase questionable. The work environment is also pressurized not only as regards to his career prospects within the company in the event of failure, but also in the need to produce a working program within the stipulated timeline. The lab technicians are also cognizant of the pressure and expectation on the project. Consequently, the motive for fabrication and falsification of data to meet the expectations is relatively high. However, the actions of Martin and the technicians raise a number of ethical issues. First, will it be fair to punish Martin considering that it is the company that placed him in a compromising situation by assigning him development and testing duties? Should the technicians, who are working under the direction of Martin, be punished? Despite the circumstances, can Martin and the technicians’ actions be defensible? Cognizant of these issues, Martin should be relieved of his duties because as the lead researcher, the fabrication of results has not only cast aspersions on his integrity but also put the company into disrepute. This decision is based on the deontological approach to utilitarianism, and Martin is punished for acting in a manner that contravenes the rules, and hence his actions can be judged to be ethically wrong (Secker, 47). The technician should be disciplined administratively for failing to report the malpractice in data reporting.
Case study 2: Accident in pilot plant
The company has been facing challenges in the manufacture of products due to the old manufacturing technology that it is using. This puts the company on a competitive disadvantage because its products tend to be more expensive, primarily due to the manufacturing inefficiency. In addition, the technology the company is using is not environmental friendly and the Green Revolution activists have been conducting a vociferous and visible campaign against the company on its pollution impact on the environment. There are threats to call for boycott of the company’s products, and the negative publicity that the company has been suffering is becoming injurious to the company’s image as well as earning potential. The CEO, Ms. Brown, directed that the company must take cognizance of the issues raised by the environmentalists and institute measures to ameliorate the damage caused not only to the environment, but also to the company’s image. Ms. Brown ordered one of her senior managers, Mr. Kraft, to expeditiously find a solution to the issues raised by the environmentalists. The proposed solution had to also address the inefficiencies inherent in the manufacturing process with a view to streamlining the process to make it more profitable to run.
Details of situation
After being assigned the task of addressing the issues raised by the Green Revolution and increasing the efficiency of the manufacturing process in the company, Mr. Kraft identified the adoption of a new synthetic reaction system as the solution that will adequately address the issues. The system will significantly cut down on the pollution effect of the manufacturing process while increasing the efficiency of the manufacturing process, making the company more profitable. After consulting Mr. Mokbel, the operations manager, Mr. Kraft decided that before the company could overhaul its manufacturing system, it could first establish a pilot plant. Kraft, Mokbel and Ms. Paula, the plant manager settled on the synthetic reaction system as the manufacturing process that could address all the problems that the company was experiencing. Consequently, a pilot plant using the synthetic reaction system was set up by Chamolia Corp, and Mr. Chambers was put in charge of the new plant, reporting directly to Kraft.
Mr. Chambers was to report to Kraft daily on the progress of the system, filing reports on the different parameters that were needed to determine the efficacy of the new system. The new pilot plant, in all appearance, worked optimally with peak output. There were no major problems reported on the synthetic reaction system and it seemed that the overhauled manufacturing system will use the synthetic reaction system. However, after around two months, an accident occurred in the pilot plant leading to the destruction of the pilot plant. A fire broke out during peak running of the plant leading to the destruction of the plant. Fortunately, no employee was seriously injured in the two pm blaze, and the cause of the fire is not very clear with employees present in the factory giving conflicting reports about the origin and cause of the fire. From the varied accounts of the fire collected from the employees, it appears the blaze originated from the core of machine before quickly spreading due to the flammable raw materials used in the manufacturing process. Following the fire, there was need to conduct an investigation to determine the likely cause of the fire and the suitability of the synthetic reaction system for adoption and use in the manufacturing process of the company.
When Kraft was requested to produce the daily progress reports filed by Mr. Chambers, he claimed that the daily progress reports had been used to make weekly progress reports and then destroyed. Data for the last three days leading to the accident is missing and Kraft claims that a weekly reporting schedule has been used instead of the daily schedule earlier anticipated. Chambers claims that the notes he had made for the weekly report has been destroyed by the fire, hence cannot be used for the investigation. The weekly reports in the possession of Kraft show that the pilot plants had been experiencing operational problems that were interfering with the efficiency of the system. The reports show that the pilot plant was showing structural integrity problems in addition to unpredictable changes in system core temperature. The reports imply that the accident is a force majeure, and the management is not in any way culpable for the accident.
Ethical basis for action
The information obtained from Kraft raises a number of issues that have to be considered when making ethical decisions. It is surprising that the problems that are well articulated in the reports are unknown to the CEO, considering that Kraft and his team had not raised any red flags on the synthetic reaction system. This raises serious concerns about the accuracy and integrity of the data presented by Kraft. For the company to be compensated for the accident there should be no suspicion of negligence from the employees. Using the consequentialist approach to ethics, it can be argued that Kraft may have acted unethically, although he had the right motives – minimizing damage to himself as well as the company (Louise, 67)
Cognizant of the likely consequences, it
is possible that the top managers were motivated to deliberately tamper with
the testing data to insulate themselves from censure. In addition, if the
report presented by Kraft is true, he is culpable for negligence, which may
have led to fatalities, for not acting on the observed weaknesses. Therefore,
Kraft and Chambers should be immediately suspended from the company to
facilitate a full and impartial investigation into the accident. It will be
unethical to summarily dismiss them because it is not certain that they
falsified the data. Using motive consequentialism, it is prudent to determine
the motives of the employees acts before determining whether they actions were
right or wrong (Hooker, 115). In addition, staff at the pilot plant should be
interviewed thoroughly to get a balanced picture of what might have happened.
The staff at the plant should only be punished, if after the investigation,
they are found to be culpable for the accident.
Hooker, Brad. Ideal Code, Real World: A Rule-Consequentialist Theory of Morality. Oxford: Oxford University Press. (2000). Print.
Louise, Jennie . “Right Motive, Wrong Action: Direct Consequentialism and Evaluative Conflict.” Ethical Theory and Moral Practice, 9.1, 65-85. (2006). Print.
Secker, Barbara. “The Appearance of Kant’s Deontology in Contemporary Kantianism: Concepts of Patient Autonomy in Bioethics.” The Journal of Medicine and Philosophy, 24.1, 43-66. (1999). Print.
Innovation Management and the Role of Women in Clothing Industry in Saudi Arabia
Hypothesis 1: There is a lack of the organizational factors regarding implementing innovation, such as (awareness, reward, communication, punishment, and training) which have an impact on compliance with implementing the management instructions and orders
The women in Saudi Arabia play a crucial role in the clothing industry, and as Figure 1 depicts women’s wear accounts for approximately 77.2% of Saudi Arabia’s Clothing industry. The prevalent culture in Saudi Arabia dictates that women should concern themselves with home matters such as childbearing (Alghamedi 61). In addition, women lack the skill set and the educational background to be innovative in engaging in entrepreneurial activities such as the Saudi clothing industry. Saudi Arabia lacks the organizational structures that facilitate innovation amongst women. For instance, a woman might have brilliant business ideas in regards to the clothing fraternity. However, this woman will experience challenges in obtaining the capital, the market, and managing the enterprise (Al Rahedi et al. 39). More intently, Saudi women are subject to particular legal and cultural restrictions that do not apply to men in matters of ownership and control of firms. Hence, the organizational framework that nurtures innovation in women is non-existent or minimal in Saudi Arabia.
Some Saudi women lack sufficient education and training, and this limits their awareness and communicating abilities. In the end, the women cannot get the rewards they deserve because of the organizational framework in the country (Chaudhry 943). In addition, due to the massive challenges that the women face their ability to implement management instructions and orders about innovation becomes limited. In addition, the women find it difficult to formulate authoritative instructions and orders without interferences, and this does not allow them to perform their innovative role in Saudi’s clothing industry.
Figure 1: Saudi Arabia Clothing industry Category Segmentation
Hypothesis 2: Saudi women worker’s beliefs has an impact on compliance innovation management instructions
The scope of compliance management innovation in regards to Saudi women encompasses a systematic collection of impulses that nurture innovation in these particular women. In addition, for women to implement innovation management instructions in the Saudi clothing industry, they have to take risks, pursue education, and obtain sufficient capital (Danish & Smith 216). However, the prevalent beliefs among Saudi women prevent them from complying with the instructions of innovation management in various industries such as the Saudi clothing industry. The belief among Saudi women is that men are superior to them, and this limits their levels of efficiency concerning implementing innovation management instructions.
In order for Saudi women to be successful in matters that concern complying with innovation management, they have to transform some of their beliefs. Innovation begins with a transformed belief, and women can only be effective in the Saudi clothing industry if they value themselves and act appropriately in pursuing their respective endeavors (Elamin & Omair 746). The prevalent beliefs among Saudi women limit their compliance to innovation management instructions. More intently, the beliefs make the women not to maximize their full potential in the Saudi clothing industry. The women in Saudi Arabia ought to step up and abrogate some prevalent beliefs among them, and this will ensure that they comply with the set instructions in regards to innovation management at all times (Elimam 66). Hence, their participation in the clothing industry will improve because they will be able to utilize the enormous market share they possess in the industry.
Hypothesis 3: Saudi Women Worker’s Attitude Has an Impact on Compliance Management Innovation Instructions
The female entrepreneurs in the Saudi clothing industry are now consolidating and managing numerous small and medium sized businesses than in the past periods (Gokhale, Brauchle & Machina 13). Moreover, the trend exhibits massive rates of growth among the Saudi women. However, Saudi women still face tremendous challenges in regards to society and respective institutions. For instance, women will find it difficult to acquire a loan from a financial entity to launch an innovative business (Sivakumar & Sarkar 28). Hence, the effect on the attitudes of Saudi women is adverse because of the apparent high levels of discrimination against women in the country. In light of these difficulties, the Saudi women workers nurture a negative attitude towards being innovative and complying with instructions based on innovation management.
The negative attitude limits the capacity of Saudi women to follow the guidelines linked to compliance management and innovation instructions. The Saudi women should nurture a positive attitude, this will come in handy in enhancing their roles in the Saudi clothing industry, and they will tap into their full potential in the clothing industry. More intently, a higher market share of the Saudi clothing industry comprises of women and women’s wear composes the bulk of the clothing products in Saudi Arabia (Chaudhry 943). With a positive attitude among Saudi women workers, they will be able to comply efficiently with compliance management and innovation instructions.
Hypothesis 4: Saudi women worker’s intention has an impact on compliance innovation management instructions
The role of Saudi women in the clothing industry depends on their intention, and if the women intend to become innovative they will act in line with compliance management and innovation instructions. Innovation instructions relate to following the principles that will allow the Saudi women to formulate and devise new ways of executing various roles (Danish & Smith 216). If the women do not have the intent to succeed in entrepreneurial activities, then they will not be able to highlight any features of compliance management and innovation instructions. Innovation starts with an intention, and for the Saudi women to play an effective role in the clothing industry they have to nurture positive intentions at all times.
A positive intention will act as a motivation factor for Saudi women, and they will act in line with compliance management and innovation instructions. However, lacking the intention to succeed and make a difference limits the roles played by women in the Saudi clothing industry (Elamin & Omair 746). More precisely, women cannot be innovative if they do not intend to, or if they have negative intentions. Hence, the intention of Saudi women workers has an impact on their participation in the business activities and their efficiency in executing innovation management practices. Intentions are of utmost vitality in business and innovation management, and Saudi women ought to grasp this concept at all instances.
Hypothesis 5: Saudi women worker’s habit has an impact on compliance with implementing innovation practices
Habits constitute a person’s character, and an individual’s character will nurture the future of that particular person. Hence, the prevalent habits among Saudi women will have a direct effect on their compliance with implementing innovation practices. The habits of Saudi women workers are of utmost vitality, and they ought to be in line with the principles of innovation management at all times (Alghamedi 59). In addition, women have an important role in the Saudi clothing industry because they control a larger share of the industry. Important to note, is that the Saudi economy is dependent on oil exploration activities, and many men concentrate on large corporations that deal with oil explorations.
Thus, the Saudi women have an opportunity to launch many businesses in other industries including the clothing industry. However, their habits have to be in line with implementing innovation practices for them to succeed in doing this. The habits among Saudi women workers directly affect their thinking, intelligence, and efficiency in implementing innovation management practices (Al Rashedi 45). It is crucial for the Saudi women to transform their habits, and this will guarantee their complete compliance with implementing innovation practices in all businesses including the Saudi clothing business.
In conclusion, the five hypotheses link with each other, and the organizational factors relating to the implementation of innovation will affect the Saudi women’s beliefs, attitudes, intentions, and habits at all instances. More intently, the Saudi women workers’ attitudes, beliefs, intentions, and habits are interdependent (Elimam 61). When one of these aspects becomes affected negatively, the others become affected in a similar manner. Scientifically the five hypotheses of the study are directly proportional to each other.
Alghamedi, Ahmad. “Lack Of Diversification Is A Challenge Facing Saudi Arabia.” Journal of Global Business Issues 8.2 (2014): 57-62. Print.
Al Rashedi, N, AlShamsi, A, Rashed, M, Sinczak, T, Hodgson, S, & O’Neil, K 2015, ‘Social Marketing, Education and the Female Workforce: A Comparison of United Arab Emirates and Kingdom of Saudi Arabia’, Middle East Journal of Business 10.1 (2015):39-49. Print.
Chaudhry, Irfan. “#Hash tags For Change: Can Twitter Promote Social Progress in Saudi Arabia.” International Journal of Communication 7.5 (2014): 943. Print.
Danish, Abeer Youssef, and Helen Lawton Smith. “Female Entrepreneurship in Saudi Arabia: Opportunities and Challenges.” International Journal of Gender & Entrepreneurship 4.3 (2012): 216. Print.
Elamin, Abdallah M., and Katlin Omair. “Males’ Attitudes towards Working Females in Saudi Arabia.” Personnel Review 39.6 (2010): 746. Print
Elimam, Haga, et al. “The Contribution of the Saudi Woman in Economic Development.” International Journal of Business & Economic Development 2.3 (2014): 60-67. Print.
Gokhale, Anu A., Paul E. Brauchle, and Kenton F. Machina. “Scale to Measure Attitudes toward Information Technology.” International Journal of Information and Communication Technology Education 3 (2013): 13. Print.
Sivakumar, Abirami Devi, and Siddhartha Sarkar. “Women Entrepreneurs in Small and Medium Scale Businesses in Saudi Arabia.” International Journal of Finance & Policy Analysis 4.1 (2012): 25-32. Print.
Comparison between New York and Paris Cities
I spent the better part of my childhood in New York City and I understand the architectural design, culture, and the people living in New York. I have had the privilege to travel to various destinations across the world with my family but one iconic city really caught my attention. Paris is the French capital, rich in culture. Although at a glance a visitor from New York City may spot similarities in the two different cities in terms of advanced infrastructure and development, the cities are quite distinct in several ways.
The first day I got to Paris was a working day but unlike New York where people seem to have mastered the art of speed walking, people seemed more relaxed. In New York City, people seem to rush to work and have no rest day in particular which is quite contrary to Paris city where a greater percentage works during working hours only. Generally, New York City is a more busy and speed city with no particular work or non-work time. For instance, the twenty four hour subway operation that is ever busy all throughout is something that sets it apart from Paris where schedules are strictly followed.
The two cities have distinct culture and view on wealth creation. One thing I came to learn about Paris is that wealthy people are kind of secret unlike in New York City where people show off by some kind of lifestyle. For instance, in New York City, an individual usually strive to be identified with some kind of class in the society by driving Porsche cars living in the high end estates. This in turn results to the go getter culture most New Yorkers have compared to their counterparts living in Paris. Food culture also sets the two cities apart. For instance, in New York, coffee is served in a big tumbler unlike Paris where coffee is served in small cups. Moreover, people living in New York seem to have adopted the fast food culture more than the Parisians. In New York, you will spot most people with paper coffee and food wraps in the streets unlike in Paris where most people choose to sit somewhere in a restaurant and eat while chatting with friends or reading newspapers.
Although the two cities are distinct in several ways, there exist a few similarities between the two. One major similarity is that both the cities have excellent infrastructure and advanced technology. Both the cities’ streets are well designed with recreation parks at strategic places within the cities. The cities plan and lighting also seem to be similar to each other. In addition, both the cities have iconic landmarks that are unique to the countries’ history and culture. The weather in New York is relatively the same as in Paris city and adjusting may not be a problem when one moves from New York to Paris or vice versa.
In conclusion, the two cities are all amazing with their diverse culture, architectural design, and the resident’s attitudes. Work culture, lifestyle, food culture all set the two iconic cities apart. However, it terms of technological advancement and infrastructure, the two cities seem to be at the same level. Both the cities have their own advantages and disadvantages based on the few similarities and complicated differences discussed.
Descriptive Essay: Caesarian Section
During my sister’s first pregnancy, the doctor told her that her unborn child had an abnormal heart rate. Because of this problem, she could not give birth through the birth canal; the caesarean section was the better option. I had accompanied her to the hospital and overheard the doctor telling her about the other complications that may make a mother be required to have a caesarean section, including fetal malpresentation, labor dystocia, as well as fetal macrosomia, among others. Additionally, the physician told her that in such cases, both the expectant mother and the infant are highly vulnerable to losing their lives if parturition is allowed to take place naturally.
As a way of preparing for the procedure, the doctor asked my sister to avoid eating anything twelve hours before the scheduled operation time. She was also requested to abstain from clear liquids, light meal, and regular food, two, six, and eight hours respectively, prior to the surgery time. My brother was a nurse in the hospital and requested my sister and me to accompany him to the surgery room. They pleaded with the doctor who was in charge of the operation, and he allowed me to stand beside them throughout the procedure. In the surgery room, my sister was injected with the spinal and epidural anesthesia to sedate her abdominal and waist areas. However, she later told me that she could only hear and blurrily see the surgery team attending her since the rest of her body was conscious. The drug prevented her from feeling any pain throughout the operation up to a later time after the operation.
During the surgery, the healthcare provider started by keenly making a horizontal incision on my sister’s abdominal wall, above her pubic bone. Nevertheless, one of the nurses told me that the cut would have been vertical if it were an emergency case to enable the healthcare provider to separate the baby from the mother within a short time. The physician performing the surgery was very keen to avoid cutting the stomach muscles. He pulled the muscles apart to enable him to reach the uterus. He then made a vertical cut in the uterus.
After cutting the uterus, the physician performing the operation removed the amniotic fluid and then the baby. The newborn was delivered with the head coming out first from the uterus. Her mouth and nose were cleaned immediately for smooth breathing. After separating the baby fully from her mother’s body, the physician carefully pulled the entire placenta from the uterus. The nurses who were assisting in the operation were asked by the physician in charge to close the mother’s abdomen, rectus muscles, and the underlying peritoneum. One nurse who had become my new friend told me that there are many closure methods and the choice is dependent on the physician’s preference as well as the condition of the patient.
The entire cesarean section took approximately 49 minutes. The baby was removed from the uterus within the first five to fifteen minutes and the rest of the time was dedicated for the closure of the incision. Although the procedure seemed scary to me, I think we would have lost either my sister or her baby if she had been let to give birth naturally. For that reason, I call it a life-saver.
Abandoning fossil fuels
Owing to an increasing world population and demands for higher standards of living and better air quality, the future energy demand is expected to increase significantly. To meet this demand poses great challenges. Currently, most of the world energy requirement for transportation and heating is derived from petroleum or natural gas. These two fuels are generally favored due to the ease of transportation of liquid or gaseous forms. Unfortunately, the combustion of hydrocarbon fuels for transportation and heating contributes over half of all greenhouse gas emissions and a large fraction of air pollutant emissions. Hence, the world is currently facing urgency in developing other fuels that will cause less greenhouse gases emissions. Hydrogen fuel is the best energy alternative as it has the best potential and causes negligible emission of greenhouse gases.
For the past 40 years, environmentalists and several industrial organizations have promoted hydrogen fuel as the solution to the problems of air pollution and global warming (Sorensen, 8). The main gauges for the best fuel are inexhaustibility, convenience, independence from external control, and cleanliness. Hydrogen possesses all these properties, and is being evaluated and promoted worldwide as an environmentally benign replacement for gasoline, heating oil, natural gas, and other fuels in both transportation and non-transportation applications.
Similar to electricity, hydrogen is a high-quality energy carrier, which can be used with a high efficiency and zero or near-zero emissions at the point of use (Sorensen, 249). It has been technically demonstrated that hydrogen can be used for transportation, heating, and power generation, and could replace current fuels in all their present uses. Hydrogen can be produced using a variety of starting materials, derived from both renewable and non-renewable sources, through many different process routes. At present, two basic process technologies-reformation of natural gas and electrolysis of water are widely used. Considering hydrogen produced from renewable energy such as wind power and taking efficiency of electrolysis plants as being 85%, this also leads to an overall primary energy for a fuel cell vehicle, but this time without the emission of pollutants.
In the beginning of hydrogen economy, the principal focus of hydrogen technology has shifted to the safe and affordable utilization of hydrogen as an alternative fuel based on seamless integration of generation, distribution and storage technologies. Hydrogen is highly flammable over a wide range of temperature and concentration. Although its combustion efficiency is truly outstanding and welcomed as a fuel of the future, it inevitably renders several non-trivial technological challenges, such as safety in production, storage and transportation. Unlike ready for fuel use coal or hydrocarbons, hydrogen is not available on the earth. It is however, available as chemical compounds of oxygen and carbon. For example, hydrogen is present in water; fossil hydrocarbons such as coal, petroleum, natural gas; and biomass such as carbohydrates, protein and cellulose. Hydrogen has both similarities and differences when compared to fossil fuels.
Hydrogen has the highest energy content per unit mass of any fuel. On a weight basis, hydrogen has nearly three times the energy content of gasoline. One attractive feature of hydrogen is its electrochemical property, which can be utilized in a fuel cell. At present, hydrogen fuel cells are available operating at an efficiency of 50-60% with a lifetime of up to 3000h (Williams, 11). Owing to the high diffusivity, low viscosity, and unique chemical nature, combustibility of hydrogen is somewhat different than the other fuels. The final combustion temperature is generally lower with hydrogen fuel than with gasoline reducing the amount of pollutants, such as nitrogen oxides, emitted in the exhaust.
Hydrogen fuel is hydrogen gas with small amounts of oxygen and other materials added. Benefits of using hydrogen fuel include clean air, cleaner water and better health (Sheffield and cigdem, 40). Hydrogen is also a renewable source of energy unlike fossil fuels. Hydrogen has many properties that make it ideal as a fuel for internal combustion engines in automobiles. The main product when hydrogen is burned is water. Global warming caused by greenhouse gases is a significant problem. Therefore, the advantage of hydrogen is that CO2 is not produced when hydrogen is burned. Carbon (iv) oxide is the man product when fossil fuels are burned (Williams, 11). Hydrogen combustion does not produce toxic product such as hydrocarbons, carbon (ii) oxide, oxides of sulfur, organic acids and carbon (iv) oxide. By using hydrogen fuels, acid rain and the carbon (iv) oxide greenhouse effect could effectively be eliminated.
Hydrogen has a high flame speed, wide flammability limits and a high detonation temperature with lean burning, which give improved engine efficiency. Hydrogen is a gas; therefore there is no problem in starting the engine at the coldest winter temperatures. As with any gasoline engine, efficiency depends on driving conditions. At freeway speed, the hydrogen engine has demonstrated at least 20% increase in efficiency (Dermibas, 75). Hydrogen engines demonstrate the efficient operations of a gasoline motor. Apart from reducing the depletion of the ozone layer, hydrogen fuels are also efficient in terms of ignition speed. Hydrogen can advantageously be used in internal combustion engines (ICE) as an additive to hydrocarbon fuels.
The combustion of fossil fuels account for a majority of greenhouse gas emissions. Currently, fossil fuel combustion produces 7 Gtn/year carbon emissions and in a no-change scenario, C02 emissions in 2050 can be expected to reach 14 Gtn/year of carbon (Dermibas, 147). There is a growing recognition that steps to reduce greenhouse gases are needed, and many countries are adopting policies to limit CO2 emissions. Hydrogen, when produced from reforming natural gas, petroleum or coal, generates CO2 as a by-product. In the current processes, CO2 has been released into the atmosphere. Many countries and multi-national corporations are looking into use of energy that releases the least amount of hydrogen in the atmosphere. Hydrogen is the solution to this problem as it provides fast and efficient energy while releasing little or no CO2 into the atmosphere.
Hydrogen energy is a promising alternative solution because it is clean and environmentally safe. It also produces negligible levels of greenhouse gases and other pollutants when compared with fossil fuel energy sources they replace. Hydrogen can be obtained by direct electrolysis, direct thermal conversion, thermochemically, photochemically, photoelectrochemically and biochemically from water. Hydrogen has the potential to be an attractive alternative energy carrier for future fuel needs. The use of hydrogen as a fuel requires development in several industry segments including production, delivery, storage and end use. Burning of fossil fuels continues to deplete the ozone layer. As a result, alternative sources of energy should be used. Hydrogen is one such source of energy that causes negligible environmental degradation. Hydrogen is also a renewable source of energy unlike fossil fuels. To prevent global warming, depletion of the ozone layer, hydrogen should be used to power things around the world from cars to domestic and industrial lighting.
Demirbas, Ayhan. Biohydrogen: For Future Engine Fuel Demands. London: Springer, 2009. Print.
Sheffield, John W, and Çiğdem Sheffield. Assessment of Hydrogen Energy for Sustainable Development. Dordrecht, Netherlands: Springer, 2007. Print.
Sørensen, Bent. Hydrogen and Fuel Cells: Emerging Technologies and Applications. Oxford: Academic Press, 2012. Print.
Williams, L O. An End to Global Warming. Oxford: Pergamon Press, 2002. Print.
Poaching as a Real World Problem: Issues and Policies
Real World Problem Depicted
The depiction of a tusk-less elephant alongside various types of jewelry and ivory trophies in the first picture clearly presents the poaching problem in the contemporary world. Wildlife poaching has been recognized as one of the biggest challenges to the economic sectors of countries which rely on tourism as a form of economic activity. For instance, East African countries such as Kenya and Tanzania consider tourism to be a major contributor to the national revenues. However, the poaching challenge makes this difficult to accomplish since animals such as elephants which attract tourists to these countries have been on a constant decline through the recent years. Steyn (par. 2) indicates that in less than a year nearly 144,000 elephants were lost to activities associated with poaching.
The high prices associated with ivory products have been one of the factors that have resulted in the rise in poaching activities. Ivory products are categorized as luxury products whose prices do not affect demand negatively. On the contrary, the demand for such products increases with increase in price. In accordance with Loria (par. 8) asserts that the sale of ivory in the black market is very luxurious as syndicates buy it at approximately $ 3 per kilogram for re-sale to jewelry manufacturers at more than $1,000 per kg. Economically speaking, this may be a source of income to the syndicates. However, it results in income loss to the countries where poaching occurs as fewer tourists are attracted each year as the wildlife of interest reduce. This is because more people are likely to be attracted to the parks with greater elephant numbers (Loria par. 4). This can be linked to the concept of third party effects in economics. In this case, the relationship between the state and the tourists is affected by the actions of the poachers, who cannot be controlled by the government except through policy.
Policy One: Burning of Ivory
Different countries have formulated different policies for addressing the issue of poaching within their national boundaries. One of the most common policies is that of burning ivory as a way of preventing poaching. The ivory is intercepted and at times burned by governments to send a message that dealing in ivory trade is illegal. While this imposes customs and fines on the poachers, it does not seem to be effective since the animals that are already killed cannot be brought back to life (Kimenyi par. 6). Furthermore, burning of the ivory also seems to be an uninformed decision as it still results in loss. Governments must therefore make efforts to find alternative methods of conservation to prevent poaching. In some cases, the development of private conservation entities has been recognized as a potential method of preventing poaching. This may however be challenging to handle especially when the owners of such private facilities are not locals. The chart below shows how the number of elephants has continued to decline in spite of the implementation of the policy in the 21st Century. It is an indication of the ineffectiveness of the policy in curbing the problem at hand.
Figure 1: Decline in elephant numbers from the early 20th century
(McKenzie and Formanek par. 3)
Policy Two: Rights of Ownership
Kimenyi (par. 7) introduces the concept of enforceable rights of ownership as a means of economic conservation. According to the author, one of the ways through which the governments can help to prevent poaching within the national and local parks is through the introducing the enforceable rights of ownership to the local communities. In this way, the local communities can be more involved in preventing poaching as they realize that the wildlife they are to protect are also part of their revenue sources. In this way, countries can not only boost the income from tourism but also do so sustainably. The policies notwithstanding, poaching still remains the cause of many elephant deaths as shown in the chart below.
Figure 2: Number forest elephants versus number killed per year (Wrege par. 3)
Kimenyi, Mwangi. ‘The dilemma of destroying ivory as an anti-poaching strategy.’ Brookings, 6 March 2015. Accessed from www.brookings.edu/blog/africa-in-focus/2015/03/06/the-dilemma-of-destroying-ivory-as-an-anti-poaching-strategy/
Loria, Kevin. Elephant coaching costs economies $ 25 million a year and the threat of extinction makes it much worse. Business Insider, 1 November 2016. Accessed from www.businessinsider.com/elephant-poaching-economic-value-millions-dollars-2016-11?IR=T
McKenzie, David and Formanek, Ingrid. Our living dinosaurs. CNN, 2016. Accessed from www.edition.cnn.com/2016/08/31/africa/great-elephant-census/
Steyn, Paul. African elephant numbers plummet 30 percent, landmark survey finds. National Geographic, 31 August 2016. Retrieved from www.news.nationalgeographic.com/2016/08/wildlife-african-elephants-population-decrease-great-elephant-census/
Wrege, Peter. Can technology rescue the forest elephant? Yes, with your help. O’Reilly, 13 June 2013. Accessed from www.animals.oreilly.com/can-technology-rescue-the-forest-elephant/
Markets and Morality
In the contemporary society, the association between morality and the market is increasingly becoming apparent. This is because of the increase in events such as corporate corruption, exploitation of employees in developing countries and unethical animal testing which have become frequent news items. The recovery of the international economy from the economic and social shock was encouraged by the global financial crisis. However, there is always recap of the devastating experiences that can happen when unreliable fiscal decisions, in the form of incentives, overrun logical and ethical decisions.
Morality in the free market
From a historical perspective, the scenery of the concept of the relationship between the market and morality has not changed as evidenced in the contemporary movie The Wolf of Wall Street that epitomizes the years preceding the global financial crises. The film depicts a period of irresponsible behavior, blatant disregard, and thoughtless risk initiatives. The level of corporate greed in this film can be compared to the corporate scandal in Enron Company in early 2000s, which are evidence of the undesirable impacts of illegal commercial voracity. From a collective approach, these instances assist in understanding the assertion that the market plays a role in undermining moral values. However, is this actually the case?
The concept of free markets implies a structure constructed on the foundation of egotism, which corrode morals. The increasingly fierce levels of competition in the market can stimulate cost reduction attitudes, which are manifested in immoral behavior. Information asymmetries, which arise from liberalized businesses, can facilitate the reduction of incentives for businesses to make decisions, which are in conflict with the interests of the larger society. Moreover, negative externalities are a reflection of companies protecting themselves from dangers by externalizing costs on third parties. This explains why markets in the contemporary societies have a tendency of rewarding and perpetuating self-interest from normative perspective. This is evidenced when self-interested behavior can be equated with higher profits. In such situations, socially desirable attributes such as selflessness and kindness are positioned lowly and less desirable in the society compared to self-interest and greed (Velthuis 184).
Furthermore, it is possible to argue that when individuals are making moral decisions in the marketplace setting they make decisions that it would be impossible for them to make in other platforms. For instance, when consumers in the developed world are buying clothing factory-made in abusive environment in third world countries, they often legitimize these decisions with assertions that their payments are acts that validate their noble intentions irrespective of how cheap they acquire these clothing. Companies that are popular for paying workers the least acceptable wage with the objective of maximizing and privatizing the benefits they derive from their employees. This happens while the companies are also socializing the cost onto the government in the form of prosperity packages with the objective of supplementing the income of these employees. These can be considered as immoral decisions whose ascription can be based on the self-centered motivations that are nurtured in the market and this facilitates the creation of a powerful relationship between the market and immorality (Gourevitch 86-89).
Inasmuch as it is possible to assert that markets are contributors to erosion of ethical standards, the existing reality is that the association between morality and the market is more complex. The complexity arises from that the contention that the marketplace emasculates ethical standards from an implicit perspective assumes that the marketplace can be perceived as the main cause of corrupt consequences. This in turn implies that there are vital flaws in the market. Nevertheless, the market is a number of establishments charged with the responsbility of coordinating and facilitating trade. If the undertakings of commercial players end in immoral and negative consequences, the explanations for such behavior should be found in the societal settings and institutions underpinning the marketplace instead of finding reasons in the market. The fundamental ethical norms and values of actors in these markets are fashioned by peripheral cultural, political, and social variables. Consumers involved in the purchase of counterfeit and cheap brands from explored children and employees in developing countries, often do so with the objective of conforming to the trends in their markets. This does not only replicate effectively on the market but it is also a reflection of the wider social variable of consumerism, which shapes the ethical primacies of economic actors (Velthuis 184-185).
The arguments on consumerism assert that the imperfection in the market arise from the imperfections and impetuses of the economic players instead of the design of the market. The market is not the creator or the cause of self-centeredness but rather a structure that is developed with the objective of reinforcing selfish enticements. This implies that it is impossible for morality and the market to mutually exist considering the intense illustrations of dishonesty in the marketplace such as the Enron scandal are only representative of a segment of economic actors in the market. Despite representing minority of players in the market, actions of the management and the board of directors at Enron are instances of intrinsic greed. By allowing illegal activities, the leadership orchestrated the collapse of the company and ineffective policymaking had a poor reflection on the company and not on the market. For most players in the market, the incentives cultivated cannot be considered as domineering to supersede their moral reasoning. There are numerous samples of authentic companies seeking to realize a middle ground between their role of satisfying their self-centered intentions and guaranteeing the presence of a correspondence between societal values and their economic activities. For companies that embrace social responsibility, their motives that surround their proliferation into environmentally, and socially friendly activities are likely to be self-interest. However, these companies are also represents the rising trends among stakeholders in the direction of corporate social responsbility. Their involvements in activities of corporate social responsbility are indications that undertakings and results in the market are intensely entrenched in the socio-economic circumstances that are constantly evolving (Velthuis 186-187).
The morality of price
Price of commodities in the market plays a critical role in defining the moral dimensions that characterize any market. This is based on the understanding that pricing of consumer goods is a complex phenomenon than what is expressed in economic theory. This is because the price set for commodities imply a cognitive meaning especially when there is high uncertainty about the quality of goods. According to consumer research, price plays an informative role especially when consumers are making brand choices. In most cases consumers use price when understanding differences in product quality. This is often exercised when consumers have limited knowledge on the product (Velthuis 209). For such consumers, commodities that are allocated high prices are assumed to be of high quality compared to similar products or brands selling similar products are relatively lower prices.
The market is populate by varieties of products aimed attracting customers with diverse interest the price of these commodities communicate both economic and non-economic values. Prices are economic mediums that communicate stories that are not only about money but also about issues related to aesthetics. Price mechanisms especially in art market do not decrease but always adjust themselves automatically through the impersonal forces of demand and supply (Velthuis 190). Immorality of pricing in the art market arises in the ability of artists to manipulate the emotive elements in their customers with the objective of asserting relevance in their artwork. The success of these artists in supporting the ever-increasing prices of artwork can be understood through an observation of their activities when marketing art. Prices of different prices of work communicate elaborate and highly creative stories on the caring role that the artists want to enact while expressing the artistic value of their work. This attribute of manipulation results in success in their ability to twist and turn prices in varieties of ways that make economic sense to the customers (Velthuis 192).
Other than the works of art, when setting prices in the market, the prevailing elements of demand and supply will determine the level of pricing adopted by the actors in these markets. To this extent, it is possible to assert that the resulting price of any commodity in the markets a product of compromises and conflict of interests which results from power and assemblages. This is an indication that price can be perceived as an expression of struggles in the market between economic units that are relatively autonomous. Pricing to this extent is a socially derived activity considering that in most cases bidders are often unaware of the economic value of commodities on sale (Gourevitch 93). This explains why in most cases they base their price estimates on collective opinions that are subject to modification. Consequently, prices are not a reflection of a simple composite of individual evacuations but a consequent of collective and complex evaluations that are subject to intragroup influences. This means that the prevailing forces in the market have the authority of setting and determining prices of commodities at the expense of the interest of the customers. These economic actors when setting prices often fail to consider the desires of their customers and their ability to pay for commodities especially when these forces monopolize the market (Velthuis 209).
The role of NGOs in upholding morality in the market
Despite existing laws that govern operations in the market, there are often tendencies among companies to act in ways that are considered contrary to the expectations of the society in terms of their ability to abide by the existing regulations. Organic foods just as products that are believed to have followed the proper and legal procedure in the production process often attract large numbers of customers hence ensuring increased sales for the producing companies. Customers are often willing to acquire such products at high prices because in most cases the attributes that enhance adherence to ethical standards in the production process add the cost of production. The challenge however is in the techniques that customers embrace in determining the extent to which an ethically made product is worth he higher cost. The desire among customers to enhance their desires towards ethical consumption generates questions about the determination of commodity prices through construction of value. Ethical consumption in different markets encompasses the process of product production in relation to the extent to which that process contributes to environmental pollution, exploitation of women and children employees, and unnecessary injuries on animals or consumes too much energy (Gourevitch 86).
For consumers these are considered essential aspect that determines the value of the product. However, since they cannot ascertain the vital feature of the production process that cannot be observed through direct inspection of the products, the consumers seek the assistance of non-governmental organizations (NGOs) which play the role of evaluating the production processes. Through their assessments, the NGOs provide consumers with platforms of learning about products that fit their norms. In 2006, one of the articles in the New York Times reported that more than 50% of the wild salmon sold in upmarket diners in the United States were raised in farms. Media reports have also featured unsafe products from China that could be detrimental to the health status of the consumers. These include the toys sold by Mattel, which were coated with lead that was considered unsafe if ingested by children (Gourevitch 86-87).
The effectiveness of NGOs in monitoring the degree to which the market abides to the existing ethical regulations in the society emanates from their limited association with governments since they are nongovernmental. Furthermore, these organizations are perceived to be reliable because they are beyond the self-interest attribute, which is a problem of profit seekers. NGOs assess private and public companies either because of the inability of these companies to address policy related issues or if the government introduces laws that it cannot sustain or enforce. From the consumers’ perspective, NGOs are effective custodians of moral standards in the market because they help them in monitoring the extent to which companies comply with the ethical production norms. These NGOs also contribute to the development of acceptable standards of production and signal or direct consumers towards commodities whose production complies with them. Most NGOs provide labels such as “Fairtrade” which act as shorthand information cues for conveying reliability (Gourevitch 87).
Despite roles that these NGOs play in promoting ethical consumption, the monitoring techniques developed by these organizations generate questions on the extent to which these processes can be considered effective or accurate. This is because the prevailing situation in the market, especially global competition and the desire among companies to establish a competitive advantage, forces these companies to squeeze their suppliers who in turn force evasion of production norms and regulations. Skeptic of the role of NGOs in ensuring the existence of effective and ethical production systems argue that the accuracy of the monitoring processes is only one of the elements used in the social determination of price in the market (Gourevitch 87). However, proponents of the effectiveness of the monitoring process in enhancing ethical practices in the market argue that the consumers can use numerous indicators in assuring themselves on the accuracy of the monitoring mechanisms. They can assess NGO incentives, which include the features of the organization, its autonomy of the NGOs from the firms being monitored and the funding sources, which provide some level of independence between NGOs and the firms being monitored. Additional indicators such as professionalism of NGO employees and the level of transparency in the monitoring processes and procedures are necessary (Gourevitch 87-88).
The confusion arising from the authenticity and reliability claims by NGOs in their ability to monitor the ethical standards embraced by different organizations emanates from their association with the state. The government has been considered as an unreliable entity in enhancing the protection of consumers yet NGOs operate on the legal stipulations of the government. The government, NGOs, and the firms need each other for normalization of operations in the market. Companies need NGOs to sanction and legitimize their behavior while verifying their compliance with ethical standards (Gourevitch 91). The NGOs need these companies for the sustainability of their operations through financial resources, visibility, and cooperation. Organizations and NGOs need the government to develop policies and legislations and a structure for their implementation. This relationship implies that the monitoring processes initiated by NGOs are dependent on along chain of trust among different parties. The ethical consumption and production systems provide an essential platform the social constructions that affect the level of morality in the market. There are a myriad of social influences such as price, quality of product and the nature of competition in the market that influence and shape the definition of that which is ethically acceptable. This is because the process of developing an understanding of value formation and price in the ethical consumption field requires breaking down numerous diagnostic barriers associated with the needs of the consumers and the objectives of companies in profit maximization and improved market value (Gourevitch 92).
For corporates, their performance in the market is considered crucial in enhancing their ability to attract more customers and improving on their market share. This means that variables such as reactivity play a role in limiting the shelf life of measures used in the evaluation of organizations in terms of their ability to abide the existing ethical standards in setting prices or in the production process (Espeland and Sauder 7). In any business entity, the main challenge in managing reactivity is less towards protecting the purity of the measures than in the protection of their usefulness as incentives. Firms are complex business entities and the assessments features used in monitoring their level of adherence to ethical values in the market can never capture all the essential aspects in of performance (Espeland and Sauder 34).
Overtime organizations learn the techniques of manipulating measures and their simplification and narrowness can be self-defeating from an organizations perspective. The decline of the value of measures it becomes necessary for the organizations to change them with the objective of capturing other aspects in the market. The Vox Wagon scandal was an example of the need by the company to alter its operations with the aim of reestablishing customer trust and improving on its sales. Just like all the other attributes that are necessary in enhancing performance a firm must be developed to operate as moving targets (Espeland and Sauder 36).
The increasingly fierce levels of competition in the market can engender cost-cutting mentalities, which are manifested in immoral behavior. Information asymmetries, which arise from deregulated industries, can facilitate the reduction of incentives for businesses to make decisions, which are in conflict with the interests of the larger society. It is important to note that these to maintain ethical standards, firms through monitoring by NGOs must make policy changes, which may face resistance from those benefiting from ineffective measures that can be easily manipulated. For organizations, it is important to enhance and promote their reputation in the market by creating incentive systems that will redefine their status and reinforce their position.
Espeland, Wendy and Sauder, Michael. Rankings and Reactivity: How Public Measures Recreate
Social Worlds. AJS Volume 113 Number 1, 2007, 1–40
Gourevitch, Peter. The Value of Ethics: Monitoring Normative Compliance in Ethical
Consumption Markets. In Beckert, Jens and Aspers Patrik. The Worth of Goods: Valuation and Pricing in the Economy. Oxford University Press: Oxford, 2010
Velthuis, Olav. Symbolic meanings of prices: Constructing the value of contemporary art in
Amsterdam and New York galleries. Theory and Society 32: 181-215, 2003.
Macroeconomic Environment of Australia: Past and Present
Macroeconomic Environment of Australia: Past and Present
The Australian economy has undergone a diverse range of changes from the nineteenth century to the contemporary times. The country is characterized by a wealth of natural resources, exploited through agricultural practices. Participation in the manufacturing industry and development thereof began actively taking shape in the 1970s with mineral exploitation being at the core. Based on the economic history of the country, the GDP and employment rates have continued to change depending on the nature of trade conditions and use of available resources. For instance, the agricultural economy of the early 1990s has given way to greater manufacturing capacity hence resulting in a blended economy (Anderson, 2017). As such, most of the GDP arises from large scale agricultural practices yet is supported by the manufacturing and service industries which have also grown significantly over the years. Based on comparative economics, the GDP of Australia that arises from agriculture continues to be above those of other high income countries. The sector is identified to be high wage and labor scarce hence the associated GDP growth.
The developments in the economy of the country can clearly be linked to economic and monetary policies that have been instituted by Australia through the years. Such policies have led to continued expansion of different sectors involving tradable as well as non- tradable goods and services respectively (Anderson, 2017). It is inevitable that the progress realized can be demonstrated through various macroeconomic indicators including the GDP growth rates, exchange rates, interest rates, unemployment and CPI and the inflation rates. Through these key indicators, the ensuing paper discusses the macroeconomic characteristics of the country. The main objective of the paper is to help in understanding how Australia has progressed economically from the 1990s to the present day. This is to be achieved through a review of past and current economic statistics for the country.
Trends in Macroeconomic Indicators from 1990 to Present
|Real GDP growth rate (World Bank, 2016)||3.321||3.879||1.929||3.207||2.018||2.24|
|Interest Rates (Trading Economics, 2017)||17.5%||7.5%||5.0%||5.0%||4.5%||2.0%|
|Unemployment rates (Australia Bureau of Statistics, 2016)||6%||8.8%||6.0%||5.0%||5.8%||6.0%|
|CPI & Inflation rates (Lowe, 2010)||6%||5%||3%||3%||2%||1.5%|
|Exports and Imports as percentage of GDP (DFAT, n.d)||25% – goods 34% – services||29% – goods 38% services||31%- goods 39%- services||32% – goods 42% – services||31% -goods 40% – services||31% – goods 41% – services|
From the table above, various trends are observable. The summary provided purposes to portray the developments in each of the economic indicators outlined and subsequently to link them to policy and trade changes in Australia through the years. From the reports, the GDP growth rate was highest in 1995 and lowest in 2000. However, the values of the real GDP growth rate between 2005 and 2010 indicated a decline, which could have been caused by various factors including globalization and divergence from natural resources as a revenue resource. The interest rates on the other hand have been declining through years, from 17.5% in 1990 to 2.0% in 2015.
This could indicate a growing financial sector coupled with supportive monetary policies on lending. While the unemployment rate remains more or less within a limited range through the years, the CPI and inflation rates have reduced significantly from 6% in 1990 to 1.5% in 2015. This is an indication of a stable economy where the availability of the means of production does not depend on the global or local market characteristics. In the 1990s, Australia was characterized by a volatile currency, which was easily affected by market conditions hence leading to frequent fluctuations in the exchange rate. With the stabilization of the economy, the Australian Dollar has since stabilized as well as risen in terms of value relative to the U.S dollar.
Comparison of Different Indicators
The economic indicators interact to a large extent since the macroeconomic environment is created through interplay of all the factors. Particularly, the GDP growth rate is affected by and also indicates some of the factors that are outlined as macroeconomic indicators. The charts below can be used to explain the relationships between the different macroeconomic indicators in Australian economy between 1990 and 2015.
GDP growth Rate and Unemployment
Based on the two charts above, the trend in the GDP looks almost similar in appearance to that of the unemployment rates in the country. For instance, the GDP growth peaked in the period between 1990 and 1993 (Stevens, 1999). Similarly, the unemployment rates also peaked during this period. The rationale for this observation can be linked to the role of employment in the GDP. It is at this time that the service industry was picking up in Australia. Difficulties in the trade environment coupled with the increasing demand for skilled labor could have led many people to leave their jobs due to redundancy (Stevens, 1999). The early 1990s was also characterized by rise in economic activity resulting in improved performance quality.
During the other years, the reduction of GDP growth rate could also have been also associated with the reduction of productivity in the country. According to Gruen and Stevens (2000), the unemployment growth in the 1990s could have resulted due to the emphasis on the physical investments rather than the human investments. It is also during these years that the country recorded higher average population growths leading to a high percentage of dependent members of the society, especially children. Immigration rates also contributed to high unemployment levels among the locals. These factors can somewhat provide an explanation as to the probable causes of the high GDP growth rate experienced. For instance, the country invested in the means of production, leading to greater employment opportunities. The immigrants took up the opportunities hence earning revenue for the country. As such, while the real GDP increased, the GDP per capita reduced due to the cumulative high populations.
GDP growth and Inflation/ CPI
The charts below depict the link between the Consumer Price Index (CPI) and the real GDP growth rate. In the early 1990s, the inflation rate was high while the GDP was moderate. Through the years, the inflation rate has continued to decline while the GDP fluctuates over a range of values.
For a growing economy, a high GDP should be linked to low inflation while a low GDP can result in a high inflation level. The results depicted above show that Australia has advanced its policy practices towards the achievement of the national objectives with regards to economic growth. Lowe (2010) describes the inflation characteristics of the country as they have progressed from the 1990s. According to Lowe (2010), inflation can have strong negative impacts on the citizens. However, it can be checked to ensure that the citizens are always within such affordable limits. This explains the rationale behind the seemingly unaffected inflation rates despite the fluctuations in GDP. For instance, the Australian government instituted a policy where the main objective was to set the inflation forecast at a particular midpoint and target band. It is the responsibility of the Central Bank of Australia to determine if there is anything peculiar about fluctuations and act as soon as fluctuations beyond the allowed bands are observed (Lowe, 2010). The Central Bank faces a penalty any time the inflation rate goes above or below the targeted band.
While this places a restrictive measure on the Central bank, it has the potential of exerting undue pressure on the same. As such, a more flexible approach is recommended whereby the Central Bank is given limits within which to have the inflation rates as well as the flexibility to determine the rate at which to take back the inflation to its intended position when it goes beyond the allowable band (Lowe, 2010). This not only helps the Central bank to make informed decisions but also helps the country to avoid future negative impacts. The central bank must however demonstrate its commitment to provision of medium term flexibility in terms of prices such as interest rates. The flexible approach takes into account greater details and covers a wider scope compared to the conventional restrictive approach (Lowe, 2010).
Comparing the conditions under which the inflation rate has been kept in check in Australia, it is inevitable that the GDP would have no impacts on the CPI. This is not however by making unreasonable fiscal policies but through exploration of all available options for CPI regulation. One of the factors that can be said to have contributed to this is the availability of huge reserves of natural resources, which imply that the production costs in the country are minimal. For instance, McLean (2013), reports that Australia is a natural resource rich country that depends on farmlands and minerals for the GDP growth. Moreover, the services industry has also been expanding, particularly from 2000. Balancing between the goods produced for domestic and export purposes help the country to plan within the constraints provided by the available resources.
Real GDP Growth Rate and Interest Rates
Like the CPI, the interest rate in Australia has been declining through the years. The trend of the interest rates in the country should indicate a relationship between the two of them. However, in the picture below, the trend is portrayed to reduce while the GDP generally fluctuates within five year terms.
The reduction in the interest rate can be linked to several factors which affect the operations of financial institutions in the country. In a growing economy, the GDP increases when the interest rates increase. At any given time, the trend in GDP should be reflected from the trends in the interest rates since the interest are also part of their expenditure. In Australia, fiscal policies have been used extensively to confine the interest rates within the country. Through such actions and policies, it has been possible to protect the national economy as from currency crises caused by improper and poor planning for expenditures. Poor governance of finances, un-bulging foreign finances; and high financial prices are what result in the potential for increased interest rates (Stevens, 1999).
However, Australia can be said to have been applied stringent monetary policies in the control of the financial sector, an action that has not only helped to curb excessive interest rates but also to manage the exchange rates in the country. In the early 1990s, the country experienced great variations in the currency exchange rate due to the economic instability experienced. The period after 1997 however led to great changes which helped to stabilize the currency. There are many factors that have contributed to the relative strengths of the Australian Dollar in the many years in which the quality of performance of the Australian dollar improves. Structural and institutional reforms conducted through the years contributed to significant growth and stability of the currency. Appropriate policy actions taken at every stage of the implementation process help to escape different crises, such as the Asian crisis which affected most of the countries in Asia.
While the country was making efforts to reduce the impacts of external shocks on the trade sector, the Australian Dollar depreciated slightly to adjust to the shock. This helped to prevent future negative fluctuations in the currency while also resulting in huge export losses for the country. This has since been rectified through long-term fiscal policies that address the actual challenges faced by the economy (Stevens, 1999). High financial prices at particular times during the progress from 1990 to 2015 also helped significantly to control the exchange rates within the acceptable and commendable limits. It is for this reason that Australia is recognized as one of the fastest grown economies in the world. In spite of this, the country is still changing, particularly the aspects of economic productivity. From farming based revenue to increased activity in the services industry, Australia stands as one of the leaders in the Eastern region (Foster, 2014). The GDP notwithstanding, the country has put in place structures and institutions that can withstand external and internal shocks across the temporal divide.
The Real GDP Growth rate and Trade
Trade takes a central place in the Australian economy. This is because prior to manufacturing and technology, trade was in existence. The domestic economy of Australia was initially recognized as a fragmented environment, where there importance of regional markets was downplayed. Through the years, export and import has continued to take a central place as a form of trade in Australia. With increasing participation in trade and expansion of available opportunities, Australia has increased the GDP input through trade to a great extent relative to the 1990s.
From the charts above, it is observable that while the GDP sustains its growth within specific limits, two way trade as a percentage of the GDP has continued to grow. This implies that the percentage of revenue generated through trade as part of the GDP is increasing. According to Otto (1996), Australia’s economy has grown in trade due to the removal of trade restrictions which has seen greater investment not only in physical capital but also in human capital and in research and development.
Similarly, many microeconomic reforms have been initiated leading to the development of trade into more viable economic practices. For instance, factors such as labor deregulation, tariff reduction for exports and imports; protection of local traders from the foreign competition; reduction of extortionist taxation procedures; privatization of some of the corporations and public enterprises and the deregulation of the fiscal markets have all led to rise in import- export activities (Otto, 1996). As such, it is expected that as the percentage of revenue generated through trade rises, the GDP should also rise. The fluctuations observed however indicate a slower rising rate for the GDP. The trade sector has further been enhanced through the availability of plenty and cheap fossil fuels (Foster, 2014).
Apart from the aforementioned reasons for growth in two way trade activities, McLean (2004) also suggests that the sector has continued to grow due the communication advancements that have originated from technologies. Social infrastructure development has led to enhanced growth as more people communicate and get access to goods and services. The combination of social infrastructures and the 2010 resources boom automatically led to a significant boost on trade. Furthermore, Kropman (1998) links export- import expansion to liberalization of trade that occurred from 1997 to 1998.
The economy of Australia has undergone significant growth since the 1990s. This has been linked to various factors including the availability of an abundance of natural resources, effective fiscal and trade policies and population control among others. For instance, the reduction in inflation levels from 1990 to the present day is linked to the fiscal restrictions placed upon the central bank, which require the bank to maintain the CPI within a specific range. Similarly, trade has been expanded through effective policies such as deregulation of labor and liberalization of trade. Based on these factors, Australia can act as an excellent point of reference for countries desiring economic progress.
Anderson, K. (2017). Sectoral trends and shocks in Australia’s economic growth. Australian Economic History Review, vol. 57, no. 1, pp. 1- 21. Retrieved from www.onlinelibrary.wiley.com/doi/10.1111/aehr.12130/full
Battellino, R. (2010). Twenty years of economic growth. Reserve Bank of Australia. Retrieved from www.rba.gov.au/speeches/2010/sp-dg-200810.html
Department of Foreign Affairs and Trade DFAT (n.d). Australia’s trade since federation. Retrieved from www.dfat.gov.au/about-us/publications/Documents/australias-trade-since-federation.pdf
Foster, J. (2014). The Australian growth miracle: An evolutionary macroeconomic explanation. University of Queensland Papers. Retrieved from www.uq.edu.au/economics/abstract/521.pdf
Gruen, D. and Stevens, G. (2000). Australian macroeconomic performance and policies in the 1990s. Retrieved from www.citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.200.5276&rep=rep1&type=pdf
Kropman, F. (1998). Australian globalisation statistics: Past, present and future. Australian Bureau of Statistics. Retrieved from www.abs.gov.au/ausstats/abs@.nsf/featurearticlesbytitle/2C23D5675063B686CA256F960075C76F?OpenDocument
Lowe, P. (2010). Forecasting in an uncertain world. Address to Australian Business Economists Annual Forecasting Conference Dinner, Reserve Bank of Australia. Retrieved from www.rba.gov.au/speeches/2010/sp-ag-081210.html
McLean, I. (2004). Australian economic growth in historical perspective. Adelaide University Press. Retrieved from www.core.ac.uk/download/pdf/9313113.pdf
McLean, I.W. (2013). Why Australia Prospered: The Shifting Sources of Economic Growth. Princeton NJ: Princeton University Press. Retrieved from www.press.princeton.edu/chapters/s9897.pdf
Otto, G. (1996). Productivity growth and economic policy in Australia. Research Paper 19, 1996-1997, Parliament of Australia. Retrieved from www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/RP9697/97rp19
Stevens, G. (1999). Trend and cycle in the 1990s: Australia’s current expansion. Address to the Conference on ‘Forecasting and Business Cycle Analysis: Frontier Techniques’, Melbourne Institute of Applied Economic and Social Research. Retrieved from www.rba.gov.au/speeches/1999/sp-ag-151099.html#r8
The World Bank. (2016). GDP growth (Annual %). www.data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=AU
We will will be discussing setting goals for ourselves whether it be in our personal life or career.
How do we manage our time to reach those goals?
What sacrifices need to be made? In the video, How to Gain Control of Your Free Time, Laura Vanderkam talks about managing our time for the things that matter most.
Please answer the following questions under one post due by midnight.
1) What are your thoughts on the video, How to Gain Control of Your Free Time? Will this change how you manage your time? Why or why not?
2) The video, Why You Should Define Your Fears Instead of Your Goals, Tim Ferriss takes you through an exercise on defining your fears. Please answer the question and complete the steps that follow.
What if I…..? Write down at least one thing under each column Define…Prevent…Repair.
What might be the benefits of an attempt or partial success?
The cost of inaction (emotionally, physically, financially, etc.) at 6 months…….1 year……3 years
In the context of the world economy, explain what you understand by ‘globalisation’ and discuss the broad impact of globalisation on one country of your choice.
Support your answer with empirical evidence relating to your chosen country While your essay might consider a number of definitions of globalisation, it should focus particularly on the impact of globalisation on the country of your choice referring to the range of issues explored such as economic development, international trade , multinational enterprise and foreign direct investment, international finance system and crisis, exchange rate and regional economic integration.
You are encouraged to write concisely and to make use of graphs and tables to depict change in key variables over time (i.e. variables relating to imports, exports and trade openness, to foreign direct investment and other international financial flows, to international migration, and so forth) Empirical evidence might also include descriptive data, institutional arrangements and changes in them (e.g. regional integration arrangements, exchange rate systems, membership of international agencies, and so forth), government actions and policy measures (e.g. government strategy and policy associated with economic growth, industry and immigration, and so forth), and more. easy basic english please
What you are going to do is finish the paper I have attached for you here in the additional materials.
You are writing this as a research paper that is arguing the effects of the atomic bombs dropped on Japan.
Do not write this from an American point of view or use sources from US websites.
Bring up both negative and positive affects the bombs left on Japan as a country and society. Do not do any research on the actual bomb as a weapon.
Go into how the cities (Hiroshima and Nagasaki) bombed responded. Then answer the final question of did the bombings make Japan who they are today or was it just another wartime tragedy.
Please follow these instructions. Please make this paper flow with the paper I attached.
It is supposed to be one whole paper so make sure it matches. Thank you
For this assignment, you will be drafting a project stakeholder analysis and a stakeholder register. A stakeholder register template is provided for you, and you will find some examples of how to conduct a stakeholder analysis in your reading and in the instructor perspective folder.
This assignment is directly linked to the following key learning outcomes from the course syllabus:
Using real world examples of projects, demonstrate an ability to manage critical components of the Initiating process group by:
a. Reviewing the business case, project charter, and understanding its linkage to the stakeholders
b. Preparing a stakeholder analysis and stakeholder register
c. Assessing what roles stakeholders play and how their influence impacts projects
In addition to these key learning outcomes, you will also have the opportunity to evidence the following skills through completing this assignment:
- Critical thinking
- Professional writing
- Problem solving
For this assignment, you will be using the case study introduced in Week Two, and the Stakeholder Analysis Overview attachment above to prepare a stakeholder analysis and a stakeholder register. A specific template with instructions in each column have been provided for the stakeholder analysis. In addition, you will be submitting a one page overview of the process that you will use as project managers to identify stakeholders based upon the readings and lecture material.
- At this point, we are performing a comprehensive stakeholder analysis to identify key constituencies, so remember that there will be many other stakeholders in a project such as this in addition to those mentioned in the case study. For this analysis, focus on those specifically mentioned or directly implied in the case study, and also consider other stakeholders that may not be listed. You can research common stakeholder groups and add additional categories based upon your readings or additional sources that should be cited according to AP. You will have to make some reasonable assumptions to complete the analysis and register, but this is often the case this early in a project.
- Ensure you complete each column of the stakeholder register template fully for each stakeholder that you identify.
- Please include a one page written introduction that outlines the process you utilized to identify all stakeholders and why you selected those approaches.
- Ensure that the stakeholder register is properly formatted and that there are no text wrap issues, spelling issues, or grammatical gaps.
- Remove the verbiage that is already contained in the template prior to submitting.
- Cite all sources properly per APA guidelines.
In an essay of 1,250-words, evaluate three empirical, descriptive research studies on the same topic used for Understanding The Research and Applying Educational Research
Name of Paper Descriptive Study Evaluations
Evaluate the three new articles based upon the eight steps in chapter 8 of the text. which I have uploaded for you sorry it in note pad
Prepare this assignment according to the This assignment uses a rubric.
Reference this link
please read all instructions
GBK 401 Reflection Journal Two Assignment
Think carefully about your most recent service-learning project and the one you experienced earlier in the semester.
Address the following questions by writing 2 complete and well written paragraph answers per question (each paragraph must be 6-8 sentences in length) that reflect your perspectives.
1. If you did your second project at a different agency, do you view this as a greater or lesser need or impact than your first project (offer at least 2 reasons for your response)?
If you did your second project at the same agency, what different activities did you engage in and what impact do you believe those activities will accomplish?
2. What aspects of both projects did you find most satisfying? Most difficult?
3. If you were in the role of Corporate Responsibility Officer for “Corporation Z,” would you recommend your company support the projects you participated in? Why or why not?
4. Given what you have learned in this course and your service projects, has your view of business’ role in the community changed, and if so, how?
What implications does that have for your career in the future? Review the grading rubric to see the expectations for your question responses. Formatting Instructions:
Prepare your assignment as a .doc or .docx document Save your paper as: “Last Name_GBK401_Journal 2”
State the actual question you are answering prior to your response.
Your paper should be in proper APA format, double spaced, size 12 font, Ariel or Times New Roman, with appropriate headers, cover page, and reference page.
Upload your Journal as an attachment to the assignment link in Blackboard