Choose one of them i will upload after paid Essay

Choose one of them i will upload after paid - Essay Example This form of writing provides a deep analysis of Purchasing Power Parity and highlights some of the PPP’s significance in the economy. PPP theory is used in various situations including adjustments for the price differences between countries and provides the solution of comparing countries with dissimilar wellbeing standards as well as setting exchange rate for new countries. By comparing the value of output from different countries and considering exchange rate for ease of data comparison, a lot of information between countries can be obtained (Yavuz 2013, p. 118-121). PPP may make it easy to determine numerous things such as the speed at which the global economy grows and further determine a country, whose average persons are better off. Purchasing Power Parity exchange rate is one of the numerous techniques that can be used to convert different country’s statistics into a common currency (Carvalho & Nechio 2011, pp. 2412-2423). It is worth noting that the PPP exchang e rate must not be similar with the one that prevails in the financial markets as it may either be more or less. Nevertheless, comparison of prices between different countries considers several products and services, which is a very complex task due to the massive amount of data, and the sophistications encountered in the process. In facilitating the price comparison process, always an International Comparisons Program (ICP) generates PPPs founded on global survey of prices where every participating country provides national average prices for several products. PPP is deemed a better measure of the overall wellbeing and its exchange rates are always fairly stable over time. Unfortunately, PPP is not easy to determine compared to other approaches such as the market based rates since ICP is a huge statistical undertaking and there are challenges of methodological involved such as estimation of the PPP rates that may lead to inaccuracies. Additionally, another challenge of using the PP P approach is that there are products that are never available in some countries thus limiting their utilization in comparison purposes. According to Adhikari, Guru-Gharana & Flanagan (2011, p. 4-8) because these countries share almost same economic trend of consumption normally experience better PPP exchange rates compared to countries that do not have similar economic characteristics. On the other hands, most of the developing countries particularly in Africa and Asia may make it difficult to obtain an adjusted exchange rate for PPP because they do not have well-kept economic records deemed important in determining the PPP exchange rates (Taylor 2009, 19-24). Although it may be presumed that, the nominal exchange rate and PPP may be comparatively similar there is always, an evident of a marked difference in the PPP’s accustomed exchange rates. It is significant to note that the PPP figures are normally grounded on the law of one price that indicates that products and servic es cost similar amounts everywhere such as the price of Big Mac in UK and France are similar. This assumption is vital in comparing the two products directly in

How to be an effective manager Research Paper Example | Topics and Well Written Essays - 2250 words

How to be an effective manager - Research Paper Example Research objective: How to be a manager that leads in business? Introduction Manager as the name implies is the one who manages or directs a company, industry, organization etc. Manager is the person responsible for achieving goals by getting the work done through other people. The task of manager includes planning, directing and monitoring the work done by subordinates and take corrective measures when and where required. The main quality a manager must have to lead in business is the basic knowledge and familiarity of all areas and divisions so that he/she can guide the workers and can check if the work is being done properly or not. Manager apart from performing the discussed roles and responsibilities, need to primarily look after achieving the goals and objectives of the organization while increasing the profits. The role of manager in an organization is to reach and exceed the set expectations while ensuring that every team member achieves respective objectives (Koontz, H. & We ihrich, 2006). Important functions of manager Managers are important for business so that they can coordinate and direct the activities required to achieve its goals and targets. They play a vital role in determining the future of a firm or society at large. Their function is to focus on people and their performance so that desired outcome can be achieved. And to achieve success in their strides Manager needs to design a course of action from the available alternatives and verifying if everything occurs in accordance to the plan adopted in order to make orderly arrangement of individuals and group to secure unity of action. For this Managers at all the levels in an organization perform these functions but the amount of time spend on these activities depends on specific organization. Some of these functions are Planning, Organizing, Staffing, Directing and Controlling (Marquis& Huston, 2008). Planning may be defined as the process of setting goals and strategies to accomplish a goal. It is a systematic step and preparatory activity done by manager which determines the future course of action. Manager while planning forecasts and decides in advance about the action to be pursued in future. In this process relevant facts are collected, analyzed, and action plan is then decided for future. While planning, the manager takes into consideration the available resources of the organization so that optimum utilization can be done. Manager decides the best available alternative and evaluates future contingencies in order to achieve predetermined goals of organization or business. Through planning Manager lays down objectives, policies, procedures, rules, programs, budget and strategies for proper and efficient functioning of business or organization. Planning is thus an intellectual process where in manager chooses the course of action from the available alternatives. It is the most basic but continuous function of manager. After planning is done, manager needs to organi ze the workforce and material as per the plan. Organizing is done in order to get result. Manager must synchronize human, physical and financial resources with skilled and efficient workforce in order to get results. By organizing manager divides the work amongst the employees and coordinate their efforts to achieve goals or objectives of the business (Marquis & Huston, 2008). Once planning and organizing is done, manag