Monday, May 25, 2020

Leadership Theories Transformational Leadership Essay

Describe the role of leadership types within teams. What are some of the primary reasons teams fail? What can be done to ensure team success? Give a personal example of team success. Support your discussion with appropriate leadership theories that apply. Transformational Leadership can play a role in creating a successful team. It can also be the process that changes and transforms people dealing with emotions, values, ethics, and standards. Transformational Leadership is the process whereby a person engages others and creates a connection that raises the level of motivation and morality in both the leader and the follower (Northhouse , 186). This applies to a team because you always have to be able to connect and motivate others†¦show more content†¦Communication is the key to success. A team without communication could never be successful. Communication is important because the group needs a clear goal and also they need to have shared objectives. For example, in footb all a defense needs to be on the same page; if two players on the defense are on different pages then the defense will not be successful. You need everyone to share the same objective in order to succeed, not just a few people but all as one. To ensure a team’s success, everyone on the team has to be accountable. Everyone has a job on the team to contribute to becoming successful as a whole. Also you need trust in order to become successful; you have to be able to trust in your team that they will give their all for the team. Compare and contrast at least three major theories of leadership, fully describing the major elements of each. Your response should include your analysis of the strengths and weaknesses of each model, including how they might apply in actual situations. The three types of leadership I will be comparing are Transformational, Servant, and also Authentic leadership. Authentic leaders are self-actualized individuals who are aware of their strengths, their limitations, and their emotions. They also show their real selves to their followers. They also don’t hide their mistakes or weaknesses out of fear of looking weak. Authentic leaders are able to put the mission and the goals of the organization ahead of theirShow MoreRelatedTransformational Leadership And Authentic Leadership Theories1598 Words   |  7 PagesTheories Out of all the different leadership theories I learned about this semester I really feel that I best relate to transformational leadership and authentic leadership theories. During the development of my personal theory I found that these theories tended to list many similar traits, and values that aligned with my own. Additionally, both authentic and transformative theories place a significant amount of emphasis on the relationship between the leader and her/his followers. The success andRead MoreThe Leadership Theory And Transformational Theory1482 Words   |  6 Pagesexecutive, it is important to know these traits and leadership styles in order to be successful in the business and medical world. There are a number of different leadership theories, models, and styles that could be useful towards becoming a successful leader. The situational theory, contingency theory, and transformational theory are the three leadership theories that stand out the most to me. As a future healt hcare executive, shadowing these leadership approaches will help me become the successfulRead MoreLeadership Theories/ Approaches (Situational and Transformational Leadership)2362 Words   |  10 Pagescome to people on this is to achieve Leadership but to be able to do it, it is imperative to understand its meaning, its strengths, its weaknesses and all concepts that may help individuals and organizations to approach it in their modern world. Thanks to these needs, many researchers have been looking for answers and ways to represent what is leadership significance. The purpose of this essay is to analyze and discuss two theories/approaches of leadership, in order to gain a better understandingRead MoreLeadership Theory, Transformational, And Transactional Theory2421 Words   |  10 Pages Leadership Theories Unit 3 PSF8603 - Management and Leadership Theory Instructor Steven Kline Capella University Ann-Marie Cameron Introduction There are a few leadership theories, but for this research I will only focus on four of these theories. The theories that will be discussed are Situational leadership theory, Contingency theory, Transformational, and Transactional theory. The theory Transformational is pondered by several to be the theory improvement for transactional leadershipRead MoreThe Theory Of Transformational Leadership Perspective And Parenting Essay1583 Words   |  7 PagesThis literature investigates leadership theories to gain a clearer image and pathway definition of the relationship between leaders and followers, and in doing so we uncover the extent of the effect this relationship has on the whole organisation. Consequently, the essay explores the theory of transformational leadership perspective and parenting. Therefore, a leader in many ways can be portrayed as a parent because transformational leadership is not just about right now but rather about rightRead MoreSituational Leadership Theory, T ransformational, And Transactional Theory2386 Words   |  10 PagesIntroduction There are a few leadership theories, but for this research I will only on four of these. The theories that will be discussed are Situational leadership theory, Contingency theory, Transformational, and Transactional theory. The theory Transformational is pondered by several to be the theory improvement for transactional leadership theory, and it appears to have a cumulative number of research studies that are supporting the benefits of this theory. So, I will also compare and discussRead MoreTransformational Leadership And Leadership Theory Essay1417 Words   |  6 PagesTransformational Leadership Theory was introduced in 1978 by political sociologist James Mac Gregor Burns and expanded by industrial psychologist Dr. Bernard Bass. In this theory, Burns differentiated two styles of leadership: transformational leadership and transactional leadership. In transformational leadership, it is a process where both the leaders and the followers elevate motivation and morality. The transfo rmational leaders pay attention to the needs and motives of followers and help themRead MoreLeadership Theories : Transformational Leadership2251 Words   |  10 Pagesfrom the different theories of Leadership, I found Transformational Leadership the best theory to identify with. Before going further with this theory, I want to state the most accurate Leadership definition for me. Leadership is a development of social influence and an exchange of values, behaviors, and power delegation between leaders and followers, where leaders maximizes efforts of the followers to achieve a collective goal (Kruse, 2013). Moreover, Scholars has divided leadership into different areasRead MoreLeadership Theories Of Transformational Leadership4045 Words   |  17 PagesA1. Leadership Theories As the CEO of Zappos.com, an online retailer that specializes in the sale of shoes, Tony Hsieh has seen the company grow from a struggling start up to a billion dollar business. Because of his leadership, Zappos.com was listed as 86 on Fortune Magazine’s list of best companies to work for in 2015. Hsieh’s method of leadership was analyzed against the common theories of leadership and it was found that transformational leadership was the most closely aligned with Hsieh’s approachRead MoreThe Theory Of Transformational Leadership Essay3267 Words   |  14 PagesBass (Bass Steidlmeier, 1999) condenses many of the criticisms of transformational leaders, stating that they risk succumbing to the temptation of self-promotion, since the process sometimes revolves around impression management, or controlling the flow of information to influence people’s perceptions. He purports that this is incompatible to the maturation of collaboration, consensus-building and participative decision-making, and adds that self-promotion and a focus on self-interests can shift

Wednesday, May 6, 2020

The Brightest Of Her Age - 1234 Words

The Brightest of Her Age: How Author JK Rowling Triumphed Over Poverty, Depression, and Became one of the Most Successful Authors in History Before Harry Potter was a best-selling novel, with a multimillion dollar business, a theme park, and several movies to its name, The Boy Who Lived was no more than an a couple of sentences, scribbled between the pages of a notebook. Long before her rise to fame, J.K. Rowling, author of history’s best-selling fantasy series, spent several years in as a single mother fighting her way out of poverty. Within the span of five years, Rowling went from relative poverty, to the world’s first, and only, billionaire who made her fortune from selling books. Hers is the literal rags to riches story. However, her tragic past hasn’t hindered Rowling in the slightest. In addition to publishing seven books in the Harry Potter series, two crime novels, and several tie-ins that expand the magical world of Harry Potter, Rowling has become an active philanthropist. It may seem odd, or even strange, for Healthy Aging to use a fantasy author as the cover for our magazine. However, Rowling’s actions are exactly why Healthy Aging chose her for this month’s cover. Rowling’s determination, her resilience, and her activism are qualities every single one of us can aspire to. The Brightest of Her Age Born in Yate, Glouchester to an air craft engineer and a science technician, Rowling’s early life was a happy one. She attended St. Michael’s Primary school, andShow MoreRelatedThe Art Of Judith Beheading Holofernes By Caravaggio815 Words   |  4 PagesIn the year of 1571, Caravaggio was born in Italy. At age 11, Caravaggio was orphaned, luckily he was apprenticed with a painter in Milan. His work became popular when he moved to Rome. Caravaggios work became popular for the â€Å"tenebrism technique he used, which used shadow to emphasize lighter areas† (â€Å"Caravaggio†). This painting tells a biblical story about Judith Beheading Holofernes. In the picture, Judith is the women in the middle that is about to behead Holofernes, the man lying on the bedRead MoreThe, The And Of The Shepherds, Jacob Jordaens, 1657, And The Feast Of Esther1104 Words   |  5 Pagesslightly brighter colors. Thick brushstrokes are employed in the more detailed places, while in other areas the linear technique can be observed. In 1607, the child prodigy Jan Lievens was born in Leiden, Netherlands. He was an apprentice painter by the age of eight and later worked with Rembrandt. Some of his work, specifically The Feast of Esther, was formerly attributed to Rembrandt. While he was alive, he was recognized as a great painter, but after his death, he was overshadowed by Rembrandt. TheRead MoreStrategic Hr Planning at Google Inc1092 Words   |  5 Pagesmentioned benefits lead to employee’s satisfaction and motivation, and ultimately motivated and satisfied employees become more productive for the organization. Q3: If you wanted to hire the brightest people around, how would you go about recruiting and selecting them? Ans: - For hiring the brightest people around the world, there must be a tough selection criteria. Before all there need to be an applicant pool which can be sought through many ways like, * Internet Recruiting * Referrals Read MoreWrongful Accusation Of Murder As A Child Leads1441 Words   |  6 Pages ROMARR GIPSON: WRONGFUL ACCUSATION OF MURDER AS A CHILD LEADS TO FUTURE CRIMINAL OFFENSES Written by: Christine Grade Crim 120-17 W 6-8:50pm J. Leahy 27, April 2016 â€Æ' Romarr Gipson, at the early age of seven, is the youngest boy to have ever been charged with murder. Gipson along with his eight-year-old friend named Elijah Henderson were charged with first-degree murder of the eleven-year-old Ryan Harris. It was later determined after the boys claimed they murdered Harris, that she was foundRead MoreThe Theme Of Intellectual Disability In I Am Sam766 Words   |  4 Pagesâ€Å"I am Sam† is a story about a father and daughter relationship that is threatened when daughter Lucy begins to develop gradually passing her father Sam who suffers from intellectual disabilities. Because he has an intellectual capacity of a seven-year-old, social workers do everything they can possible to separate the two thinking he is not capable of taking care of his very thriving little girl. The main diversity issue in this film includes Intellectual Disabilities. An intellectual disabilityRead More Hero Essay698 Words   |  3 Pagesthat we love and can look up to. It took me a while to realize it but my hero is an 83 year old woman. In 1986, at the ripe age of 6, I was given the news that a big storm was coming. As a child the news of a big storm frightened me, I was paralyzed by the fear of being struck by lightning. The sky became unsettled, a shade of gray that left even the brightest spirit longing. The rains came hard and fast, the thunder and lightning along with it. Shortly after the wind began to pick upRead MoreThe Old Woman and Miss Cunegund869 Words   |  4 PagesCandide is a satirical piece written by Voltaire, the great French historian and philosopher during the Age of Enlightenment. There are two contrasting female characters in the literature. Cunegund is the daughter of a baron who experiences unbearable miseries. An unnamed old woman is a servant of Cunegund who was born as a daughter of a Pope. Candide, who is Cunegund’s lover, is also a traveling companion. Even though both Cunegund and the old woman share similarities in their respective lives,Read MoreThe Power of Personal Relationships in The Women of Brewster Place and The Road602 Words   |  3 PagesThe brightest moments in a person’s day are usually times when they have made a personal connection. Whether it is a smile from a complete stranger or a kiss from a loved one, these personal connections build relationships that shape the lives of every individual. Relation ships vary in type, depth, and complexity, but any which way, they play a prominent role in the lives of The Women of Brewster Place, and the characters in The Road. Friendly, biological, and intimate relationships are extremelyRead MoreThe Media s Influence On Society945 Words   |  4 Pagesrelationship consists of. The famous saying goes that opposites attract and it is never more prominent than in the media of today s society. It is evident in various comic books, animes, cartoons, and well-known books acknowledged by people of different ages. Opposite attraction is shown in the media as a very natural and constant occurrence while this tends to get overexpressed it still holds some truth in everyday relationships. The media portrays relationships in such a way so that it grabs the audienceRead MoreEssay on Alzheimers Disease 512 Words   |  3 Pagesrace and confuse even some of the brightest scientists today. Unfortunately, Alzheimer Disease (AD) is one of them and it affects between 2.4 and 4.5 million people in America. Alzheimer’s is usually diagnosed in people over the age of 65, but in rarer cases people as young as 16 have it. Since it is a degenerative disease, patients develop it with few symptoms at an earlier stage, but then it gradually becomes more predominant in how the patient lives his or her life, developing into dementia â ¨ ¥

Tuesday, May 5, 2020

Mother Courage and Her Children by Bertolt Brecht Essay Example For Students

Mother Courage and Her Children by Bertolt Brecht Essay Khalia Frazier 11/18/13 Work used: Mother Courage and Her Children by Bertolt Brecht Reflective statement: how was your understanding of cultural and contextual considerations of the work developed through the interactive oral? In Mother Courage and Her Children the aspects of familial ties versus greed and the effect of war on humanity were explored using the technique of epic theater. In an attempt to further remove the emotional ties Brecht set his play during the Thirty Years War instead of WWII which was happening at the time, he wanted to remove all emotion and cause the audience to view his characters from an analytical standpoint so they could draw their own conclusion of the characters motives. Epic theater is a style of acting in which one makes sure that the audience is aware at all times that they are viewing a show and not real life. This method was used in the writing and producing of Mother Courage so that one could critically analyze the actions of a character instead of their words. This was done by having the actors read stage directions, turn their backs to the audience, and many other methods. The emotions that Brecht sought to exorcise were still present however, because of the deaths and other tragic events that occurred throughout the play. In almost all cultures women are seen as caregivers and protectors but Mother Courage was the exact opposite of this stereotype. She was driven by greed to do things which caused horrible fates to fall upon her children and moved from man to an, resulting in none of her children sharing the same paternal background. This could be due to the fact that Brecht himself had very little regard for womens feelings, Jumping from mistress to mistress while he was still married. Also Brecht was not around to support his children, which couldVe led to mother courages nonchalant attitude towards the wellbeing of her offspring. Although Brecht did not want it to, WWII had a very large impact on the way Mother Courage was received by audiences at the time. Brecht was strongly opposed to war and this was very obvious in the way he portrayed army leaders such as the general. The general was seen as a dimwitted man who applauded mindless violence but exuded cowardice himself. He symbolized the idiocy of war and those who believed in it. The deaths of Swiss Cheese and Kattrin both stemmed from their mothers greed along with the murder of Ellif; they were all results of the war showing that nothing good can come of it. Mother Courage and Her Children by Bertolt Brecht By Thelittlestoreo

Monday, April 6, 2020

Neutrality and Racism free essay sample

As children were taught to never fight back when a classmate steals a beloved smack time treat or retaliate when they take our cubby. And as we continue to grow older, were constantly reminded to turn the other cheek when someone is spiteful towards us- after all, forgiveness and love is considered to be of utmost importance according to the word of God. However, while remaining neutral to situations may avoid conflict and confrontation, it also leaves us undecided and apathetic towards any remote yearn for change. By not demanding change, we are allowing unacceptable behavior to continue. With historical events such as the civil rights movement and current events such as bullying, neutrality sets a limit on human capability for improvement and understanding. Change is spearheaded by a shift in mindset rather than staying neutral to the norm. And in order to change someones mindset, we must be wholly determined ourselves. We will write a custom essay sample on Neutrality and Racism or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page From the famous words of Martin Luther Kings, I have a dream speech, we can feel his burning desire to inspire the American people. Although King refused to remain neutral to the treatment towards people of color, he always advocated nonviolent protests. Through pleas of judging someone on their character rather than their skin tone, he urged America to end lynching, grant everyone full, equal, and promised rights, and grant well deserved tolerance of race. If King and other activists such as Malcolm X and Rosa Parks chose to remain neutral to their maltreatment, the United States very well may have been stuck in the same 1950s mentality for years to come. These African American leading figures prove the point being made- identifying and finding solutions are necessary to move forward. Staying neutral, in essence, means we are condoning the inappropriate behavior or actions being done. Currently in the 21st century, technology is becoming a vital role in our everyday lives. However, with new ways of technology and outbursts of social media, a new trend has been created- cyber bullying. Granted the security of a monitor and the comfort of an office chair, millions of online users are using the internet as an outlet to bully others. When we are online and see this type of behavior, often found in forms of curse words or appearance jokes, we are often following the bystander effect and staying neutral to these acts of hatred. By being a bystander, we are not taking the initiative to stop this bullying, therefor not instilling a need for change. Thankfully, organizations such as stopit and endbullying have taken it upon themselves to find solutions to this ongoing and severe problem. Bullying online leads to thousands of suicides, specifically in teenagers. Staying neutral to this situation may mean one life wasted; and by trying to end bullying may mean hundred of lives saved. Looking from history to modern day issues, remaining neutral is almost never an effective route. By remaining neutral we limit our capability to really understand and accept others. Awareness and being proactive is key to an improved world. Neutrality and Racism free essay sample As children were taught to never fight back when a classmate steals a beloved smack time treat or retaliate when they take our cubby. And as we continue to grow older, were constantly reminded to turn the other cheek when someone is spiteful towards us- after all, forgiveness and love is considered to be of utmost importance according to the word of God. However, while remaining neutral to situations may avoid conflict and confrontation, it also leaves us undecided and apathetic towards any remote yearn for change. By not demanding change, we are allowing unacceptable behavior to continue. With historical events such as the civil rights movement and current events such as bullying, neutrality sets a limit on human capability for improvement and understanding. Change is spearheaded by a shift in mindset rather than staying neutral to the norm. And in order to change someones mindset, we must be wholly determined ourselves. We will write a custom essay sample on Neutrality and Racism or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page From the famous words of Martin Luther Kings, I have a dream speech, we can feel his burning desire to inspire the American people. Although King refused to remain neutral to the treatment towards people of color, he always advocated nonviolent protests. Through pleas of judging someone on their character rather than their skin tone, he urged America to end lynching, grant everyone full, equal, and promised rights, and grant well deserved tolerance of race. If King and other activists such as Malcolm X and Rosa Parks chose to remain neutral to their maltreatment, the United States very well may have been stuck in the same 1950s mentality for years to come. These African American leading figures prove the point being made- identifying and finding solutions are necessary to move forward. Staying neutral, in essence, means we are condoning the inappropriate behavior or actions being done. Currently in the 21st century, technology is becoming a vital role in our everyday lives. However, with new ways of technology and outbursts of social media, a new trend has been created- cyber bullying. Granted the security of a monitor and the comfort of an office chair, millions of online users are using the internet as an outlet to bully others. When we are online and see this type of behavior, often found in forms of curse words or appearance jokes, we are often following the bystander effect and staying neutral to these acts of hatred. By being a bystander, we are not taking the initiative to stop this bullying, therefor not instilling a need for change. Thankfully, organizations such as stopit and endbullying have taken it upon themselves to find solutions to this ongoing and severe problem. Bullying online leads to thousands of suicides, specifically in teenagers. Staying neutral to this situation may mean one life wasted; and by trying to end bullying may mean hundred of lives saved. Looking from history to modern day issues, remaining neutral is almost never an effective route. By remaining neutral we limit our capability to really understand and accept others. Awareness and being proactive is key to an improved world.

Sunday, March 8, 2020

Macroeconomic Impact on Business Operations

Macroeconomic Impact on Business Operations Free Online Research Papers Macroeconomic Impact on Business Operations The Federal Reserve Board uses tools to control the money supply in the United States, which are open-market operations, the reserve ratio, and the discount rate. These tools influence the money supply and affect macroeconomic factors, which I will discuss in detail. I will also explain how money is created in a macroeconomic system, and recommend monetary policy combinations to best achieve a balance between economic growth, low inflation, and a reasonable rate of unemployment. Feds Tools of Monetary Control The Fed has three tools that are used for monetary control in altering the reserves of commercial banks. The money supply is the total amount of currency plus deposits held by the public. These tools can alter economic growth, change the rate of inflation, the level of employment, and adjust the exchange rate, by expansionary or contractionary monetary policy. Open-Market Operations The amount of money circulating in the economy can be adjusted through open-market operations, specifically with selling and purchasing of U.S. Treasury and federal agency securities bonds in the bond market. The Federal Open Market Committee (FOMC) will decide on a short-term objective for open market operations. This objective can be a chosen quantity of reserves, or a desired price (federal funds rate). The federal funds rate is the interest rate at which commercial banks lend balances at the Federal Reserve to other depository institutions overnight. †If the Fed believes that the economy is overheating (if the supply of money is outpacing production of goods), it will raise interest rates and bring money supply down to what it perceives to be the â€Å"equilibrium† level. With the same thought, if the Fed believes economic growth is outpacing money supply (causing deflation/less inflation), it will reduce interest rates. When interest rates are lower, it’s che aper for individuals to take out loans to start new businesses or buy goods and services. This also discourages them from keeping their money in a bank account, because they would make less interest† (NematNejad, 2007). The open-market operation is considered the most common tool used by the Fed, because bonds are bought and sold every week day in New York City. The Reserve Ratio The Fed has control over the reserve ratio, which determines the lending ability of commercial banks. The reserve ratio stipulates how much a bank is required to keep in reserves relative to what is in deposits. If a bank has a reserve ratio of 15%, the required reserve on $10 million in deposits is $1.5 million. The required reserve ratio is dictated to be certain banks do run out of cash on hand to meet the demand for withdrawals. The money not required in be on hand is then loaned out to customers, which in turn, increases the money supply. The Discount Rate The Federal Reserve Bank is a lender of money to commercial banks. When commercial banks borrow from the district central bank with a promissory note, the interest charged is referred to as the discount rate. The borrowed money will then increase the commercial bank’s reserve, which increases their lending ability. The discount rate is determined by the Fed, and this will be the cost of attaining the reserves. If the Fed were to lower the discount rate, more commercial banks would be inclined to borrow to obtain additional reserves, which would lead to more money in the economy. The same works in reverse for decreasing the money supply. Creation of Money Using the tools previously identified, the Fed can increase the supply of money, in other words, create money. During a period of expansionary monetary policy, decreasing the reserve ratio will result in more money commercial banks are able to lend to customers. By lowering the discount rate, the Federal Reserve Bank will lend more money to commercial banks. With commercial banks increasing reserves, the amount available for lending increases, which results in increases in the money supply. The open-market operation of buying and selling of government bonds is the most commonly used tool the Federal Reserve Bank uses to create money. If the economy is showing signs of recession and unemployment, the Fed will buy securities to increase commercial bank reserves. By increasing the commercial bank reserves, as previously discussed, the lending of the reserves will result in the creation of money. The goals of reaching low inflation, economic growth and a reasonable rate of inflation may sometimes conflict with one another. â€Å"One kind of conflict involves deciding which goal should take precedence at any point in time. For example, suppose theres a recession and the Fed works to prevent employment losses from being too severe; this short-run success could turn into a long-run problem if monetary policy remains expansionary too long, because that could trigger inflationary pressures. So its important for the Fed to find the balance between its short-run goal of stabilization and its longer-run goal of maintaining low inflation† (Federal Reserve Bank of San Francisco, 2004). Recommended Monetary Policy Monetary policy has become the policy of choice when determining the levels of the money supply. The advantages over fiscal policy are the speed and flexibility, and the isolation from political pressure (McConnell and Brue, 2004). Using the open-market operation, the Fed can purchase or sell government securities daily to affect the money supply and interest rates without much delay. Working in combination with reserve requirements, and discount rates, the Federal Reserve Bank can manipulate the application of monetary policy to achieve a balance between economic growth, low inflation, and a reasonable rate of inflation. The easy money policy was applied to the recession of 1990. The decision to increase the supply of money increased the aggregate demand which resulted in the use of inactive resources. The decision to increase the money supply may have an adverse effect on the economy; excessive spending. Overactive spending may lead to an inflationary economy, which is remedied by selling securities, increasing the required reserve ratio, and raising the discount rate offered to commercial banks. The policy incorporating these actions is called a tight money policy. The reason for a tight money policy is to decrease spending and control inflation. To achieve an environment of a stable economy, finding the balance between easy and tight money policies is crucial. A quote from Milton Friedman (1968) states The first and most important lesson that history teaches about what monetary policy can do and it is a lesson of the most profound importance is that monetary policy can prevent money itself from being a major source of economic disturbance. Managerial Decision Making In the University of Phoenix simulation (2008), scenarios are presented to students regarding monetary policy. The student is allowed to make decisions which affect the Real Gross Domestic Product (GDP), inflation, and unemployment levels. In the first scenario, global developments have caused the economy to sag, and industrial production to slow. Although inflation looks to be under control, the Real GDP is falling, and unemployment is on the rise. The solution to this scenario can be a combination of increasing the Discount Rate (DR) Federal Funds Rate (FFR) percentage spread, raising the reserve ratio slightly, and selling approximately $750 million in government securities. The results of my choices were almost a 1% increase in the Real GDP, a tenth of a percent rise in inflation, and a 0.8% drop in unemployment. By selling securities, the supply of money goes up, along with inflation. The unemployment rate does the opposite of Real GDP. If investment and spending rises, demand rises, therefore, increasing the opportunities in the workforce. Unemployment will decrease with the rise of the Real GDP. Ideas from the simulation on how to use monetary policy tools of discount rate, reserve ratio, and open-market operations helps me understand how the supply of money is controlled. Conclusion The three tools of monetary policy include the open-market operations, the required reserve ratio, and the discount rate. Together, these tools will be applied to either expansionary or contractionary policy during times of recession or growth. The policies will influence those who can create money. As the Fed lowers the required reserve ratio, banks have more flexibility when lending money. Lowering the discount rate allows commercial banks to borrow more from the Federal Reserve Bank, which also increases the availability of money for lending. But the most commonly used tool is the open-market operation, where the government sells and buys securities to increase commercial bank reserves. The tool is used every day of the week. Monetary policy is the policy of choice, with its speed and flexibility, and separation from political pressure. The Fed can act quickly to respond to inflation, unemployment, and economic growth. References Brue, S.L., McConnell, C.R. (2004). Economics: Principles, Problems and Policies, 16e. The McGraw-Hill Companies Federal Reserve Bank of San Francisco. (2004). About the fed. Retrieved February 1, 2008, from frbsf.org/publications/federalreserve/monetary/goals.html Friedman, Milton, The Role of Monetary Policy, American Economic Review, 1968: p.12. NematNejad, A. (2007). Best way to invest. Monetary policy. Retrieved February 2, 2008, from bestwaytoinvest.com/monetary-policy. University of Phoenix, (2008). Economics for managerial decision making [Computer Software]. Retrieved February 2, 2008, from University of Phoenix, rEsource, Simulation, MBA501-Forces Influencing Business in the 21st Century Web site. Research Papers on Macroeconomic Impact on Business OperationsTwilight of the UAWIncorporating Risk and Uncertainty Factor in CapitalThe Effects of Illegal ImmigrationPETSTEL analysis of IndiaAnalysis of Ebay Expanding into AsiaOpen Architechture a white paperDefinition of Export QuotasGenetic EngineeringBionic Assembly System: A New Concept of SelfResearch Process Part One Macroeconomic Impact on Business Operations Free Online Research Papers Macroeconomic Impact on Business Operations Monetary policy is a strategy that is used by the federal government to influence the economy. Having monetary authority allows the government to control the supply and availability of money (Federal Reserve, 2009). Along with the monetary policy, political objectives have a strong influence on the economy and its growth. The main goal of our government is to implement â€Å"macroeconomic stability†, which includes low unemployment, low inflation, and steady economic growth (The Financial Pipeline, 2009). This paper will discuss how money is created, and how factors such as GDP, economic growth, inflation, and unemployment are affect by the monetary policy. Money creation is a tool that is used to produce or issue money. The process of money creation takes place in three ways. The first step is by manufacturing and distributing paper currency or metal coins. Second, money is distributed through debt, lending, and government policies. The regulation, production, and the redemption of money are regulated through the Federal Reserve (Federal Reserve, 2009). The Federal Reserve determines the operation of financial markets and the purchasing power of money throughout the U.S. economy. Within the Federal Reserve is the regional bank, which in turn measures the money supply. These regional banks within the Federal Reserve are private banks that control the issuance of â€Å"debt-backed† money to the government (The Financial Pipeline, 2009). The Federal Reserve is responsible for implementing monetary policies that help regulate the economy. The Federal Reserve conduct’s the nation’s policy by influencing monetary and credit policies. They also supervise and regulate the banks in order to ensure the consistency and safety of the nation’s financial system. Lastly, the Federal Reserve provides financial services to depository institutions, and foreign official institutions. It also plays a major role in the operation of the U.S. payment system (Federal Reserve, 2009). In order to stimulate the economy, the Federal Reserve implements the federal funds, which are the reserve balances that private banks keep at their local Federal Reserve Bank. The reason for keeping money at the Federal Reserve Bank is to maintain a strategy that allows for private banks to loan money to one another. This financial market system plays a vital role within the Federal Reserve because it influences the use of monetary policy. This action in turn influences the use of monetary policy and it determines the amount of money that the private banks charge each other for the lending of those federal funds (Federal Reserve, 2009). The Federal Reserve consists of 12 Federal Reserve Banks. These 12 banks distribute banking services to depository institutions and also to the Federal government. These banks are also responsible for maintaining accounts, providing various payment services that include collecting checks, electronically transferring money, and lastly distributing and receiving currency and coin (Federal Reserve, 2009). When it comes to retail, the Federal Reserve provides a series of financial services that deal with wholesale payments. According to Ghatak Sanjers (2007), retail payments are small dollar amounts that include a depository institution’s retail clients, which consist of small and large businesses. Wholesale payments are reserved for large dollar amounts, these depository institutions are typically for large corporations. Monetary policy has a strong influence on the economy when it comes to inflation. In our economy there are two types of inflation, which are monetary inflation and price inflation. Monetary inflation deals with an increase in the money supply. Price inflation deals with the steady increases of the level prices, which in turn determines the value and purchasing power of money (Steele, 2008). If there is a fast increase in money and credit over a certain period of months, it will usually result in price inflation. According to Ghatak Sanjers (2007), when it comes to price inflation a dollar buys less and less over time. Monetary and price inflation can have a negative impact on the economy. Lenders lose money because the value of a dollar isn’t worth as much, businesses struggle with projecting future plans and, in turn lead to decrease in projects. Mortgage companies really suffer from inflation, because monetary inflation increases long-term interest rates (The Financial Pipeline, 2009). Those long-term interest rates typically leads to a decrease in consumer spending because people are less likely to make major purchases such as homes and cars, b ecause of high interest rates. The overall goal of implementing monetary policy within the U.S. economy is raising or lowering interest rates based on the demand for goods and services (Steele, 2008). Changes with interest rates affect the demand for goods and services by determining borrowing costs, the availability of loans, the income of households, and foreign exchange rates. Long term interest rates are a reflection of the financial markets expectations of what the federal government will do in the future (The Financial Pipeline, 2009). When it comes to the concern of inflation the financial markets add a risk premium to long-term rates, which in turn will make interest rates higher. If there is a decrease in interest rates, the cost of borrowing is lower, which is good for business growth. It is also good for economic growth, because it leads to an increase of supply and demand. Another result of lower rates is valuable bonds and higher stock prices. Individuals, who have stock that is valued high, are more likely to spend more, and businesses are more willing to invest. Monetary policy affects inflation by the demand to enforce labor and capital markets beyond their abilities (Federal Reserve, 2009). If the monetary policy is persistent with maintaining low short-term rates there will be an increase in interest rates, which in turn could deter spending. So in order to deal with inflation, the goal is to decrease the money supply in the economy. Reduction of excess money would lead to a decrease in aggregate demand, and would help reduce the level of price inflation (Ghatak Sanjers, 2009). Monetary policy also plays a critical role on employment and the labor market. The federal government structures the labor market through paying unemployment insurance benefits, determining the minimum wage, raising or lowering income taxes, and lastly setting the rules and guidelines for labor unions to operate. Also employment, is influenced by government investment and the infrastructure, this includes schools, roads, and parks. These places have an effect on the amount of money paid to the labor force. The government’s monetary policy has an effect on the cost and availability of money and credit through the demand for labor. When there are high levels of unemployment, the Federal government must be consistent in order to ensure the demand for money is growing fast enough (Ghatak Sanjers, 2009). One strategy for the government is to try to lower the unemployment rate by stimulating the growth of the money supply. An outcome of this strategy could possibly be a boos t in economic activity, but it doesn’t stabilize the rate for high unemployment. Even though bringing more money into the economy sounds like a legitimate reason to help a weakening economy, though it doesn’t mean it is a reasonable cure. Higher wages and prices could mean an unreasonable change in economic growth, which in turn can lead to inflation and businesses could stop hiring (Steele, 2008). By the federal government establishing the monetary policy, they are constantly looking for ways to keep the unemployment and inflation levels low. When there is a steady economy, reducing doubt in the marketplace is crucial for companies and its workers. This way more businesses and investment decisions can be made, which can lead to the hiring of more employees. Having stability allows the economy to grow and produce at high levels. Currently, the nation’s unemployment rate is at 9.8 percent. According to The Financial Pipeline (2009), many Americans have become frustrated when it comes to looking for work. In the U.S. employers cut 263,000 jobs last month and there were more than 200,000 layoffs for the month of August. Since the recession began there has been a loss of more than 7.2 million jobs. Those numbers are terribly high, and could possibly get worse. The high loss of jobs will affect consumer spending negatively. In order for the unemployment rate to improve, the industries of renewable energy, healthcare, and construction will have to experience a steady rate of growth (Ghatak Sanjers, 2009). Overall, in order to have a balance of a healthy economy and steady employment there has to be a steady pace of revenue, strong interest rates, and economic growth. The monetary policy is a reflection of the government’s ideal of regulation and trade within the economy. References Federal Reserve. (2009). Federal Reserve Bank of San Francisco. Retrieved from www.frbsf.org Ghatak, S., Sanjers, W. (2007). Monetary policy rules in transition economies: the impact of ambiguity. International Journal of Development Issues, 6(1), 50-55. doi:Cengage Learning Steele, D. (2008). The alliance takes on the reserve bank and its effect on jobs. Monetary Policy and Employment. Retrieved from www.jobsletter.org.nz/jbl08410.htm The Financial Pipeline. (2009). Monetary Policy. Retrieved from www.finpipe.com Research Papers on Macroeconomic Impact on Business OperationsTwilight of the UAWPETSTEL analysis of IndiaQuebec and CanadaThe Effects of Illegal ImmigrationAppeasement Policy Towards the Outbreak of World War 2Analysis of Ebay Expanding into AsiaIncorporating Risk and Uncertainty Factor in CapitalThe Project Managment Office SystemDefinition of Export QuotasGenetic Engineering

Friday, February 21, 2020

Mass Media and Its Influence on Public Opinion Essay

Mass Media and Its Influence on Public Opinion - Essay Example This project analyzes how mass media manages to both observe and influence public opinion as it relates to consumer-based and politically-based advertising. Mass Media Industry Social changes occurring across the world have radically changed how information sources are utilized for learning, entertainment, and knowledge-sharing. Social-based technologies, such as MySpace, YouTube and Facebook are now considered to be moving into the social mainstream, thus providing an excellent opportunity for opinion leaders to spread their personalized messages. â€Å"Wherever people are online, they are actively engaged in a wide variety of social media platforms, from blogs to social networking to video sharing† (Smith, 2009, p.559). Social media over the Internet is a significant revolution from traditional information sources such as newspaper and television as it relates to lifestyle and allows for evolution of thought from a variety of demographics. This is why this form of media is b ecoming more and more valuable to opinion leaders as it maintains the ability to reach a wide variety of consumers to present different advertising schemes and concepts. The content of messages now have changed with the use of mass media when considering social media outlets as it no longer has to be targeted to just one specific demographic, such as newspapers like the Wall Street Journal which is targeted to those who invest in stocks and bonds. It can be directed toward a global community, as a means to influence and persuade others to accept a particular advertising message. The electronic format of this type of media also allows for rapid changing of the message by the opinion leaders as a means to shift delivery in the event of changing social needs or beliefs across the world. In order to explore the issue more effectively, one should take into consideration the concepts of advertising in order to better understand the observational methods of those delivering the advertising content over mass media sources and how it manages to influence opinion of the community. Marketers have a strategy to ensure competitiveness of their products and also to maintain a competitive edge over other businesses that sell similar products or concepts and services. This strategy is referred to as positioning, which is â€Å"owning a place in the mind of a consumer. By understanding how a mind works, marketers can use it to their advantage and successfully drive demand for their products† (Trout, 2008, p.2). Marketers understand that there must be some element about their products or advertising strategy that is unique to all other competition and they rely on the ability to persuade consumers to accept and adopt their intended messaging. They do this by relating information to the individual’s lifestyle and then select a particular, very biased message that will be delivered to their specific target group. Now that the fundamentals of advertising messaging ha ve been understand as it relates to changing the mind-set of buyers, it can be explored how observation and influence occur as a product of this advertising strategy. In earlier years, marketers used traditional forms of mass media to deliver a singular, streamlined message that was not easily transformed or updated as it was generally in print. Today, with concentrated growth in the Internet, public opinion leaders can now create new,