Thursday, December 26, 2019
Organizational Behaviour Organizational Behaviour Organizations have been described as groups of people who work interdependently toward some purpose. This definition clearly indicates that organizations are not buildings or pieces of machinery. Organizations are, indeed, people who interact to accomplish shared objectives. The study of organizational behaviour (OB) and its affiliated subjects helps us understand what people think, feel and do in organizational settings. For managers and, realistically, all employees, this knowledge helps predict, understand and control organizational events. There are three determinants of behaviour in order to make an organization more effective: individual,Ã¢â¬ ¦show more contentÃ¢â¬ ¦To be ethical requires treating others -- customers and employees -- properly and fairly. A company that is interested in growth and profits must establish relationships with customers and employees based on trust. Improvement of the employer-employee relationship is important to both p arties for several reasons. First, employee productivity increases when employers treat their employees with more respect. Second, employees may find that increased ethical behaviour on their part actually results in higher compensation. For example, many companies are involved in relationship marketing, which is the process of creating and maintaining long-term relationships with customers. Relationship marketing, which can help a company increase its profits, requires the cooperation of employees. Employees that perform their jobs conscientiously and diligently are frequently rewarded with higher wages. Third, even if there is no material gain, ethically appropriate behaviour provides a sense of self-satisfaction. Therefore, it is advantageous for every organization to maintain high ethical standards and thereby foster trust between a company and its employees. Virtually all studies of employee satisfaction show that influencing employee attitudes is more affectively done by local managers and supervisors than byShow MoreRelatedOrganizational Behavior And Organizational Behaviour1644 Words Ã |Ã 7 PagesThe above drawn figure shows about organisational behaviour. It highlights the bonding among human behaviour in organizational settings, the individual - organization interface, the organization, the environment surrounding the organization. In an organization each and every individual brings its own experience, managerial and effective skills. Classical Organizational theory:- Popovich (2010) said that in this theory, the concentration mainly goes in how an organization can be structured inRead MoreOrganizational Behaviour1455 Words Ã |Ã 6 PagesIf you were CEO what would you change and why - provide your recommendation with a Before and After Organizational chart. - If you are not working at this time - use a past employer. Ans 1. Table of Content * Introduction * Discussion * Complete assessment of the company I work for Ã¢â¬â M. Muhammad Shafi amp; Co. * What would I change as the CEO and why * Organizational Charts, Before and After. * Bibliography Introduction Change is very important for any organizationRead Moreorganizational behaviour1261 Words Ã |Ã 6 Pages Organizational Behavior MG6013 The exploration of the theories, research and practices that allow a better understanding of human behavior in organizations. Topics include motivation and job satisfaction; decision making; group dynamics; work teams; leadership; communication; power, politics and conflict; organization culture, structure and design; impact of technology; management of work stress; organizational change andRead MoreOrganizational Behaviour Analysis28615 Words Ã |Ã 115 Pagesconfusion, also goes under several different names, some of which you will encounter when reading texts on the subject. The two main areas are generally called Human Resource Management (HRM) and Organisational Behaviour (OB), but the field is also sometimes called Organisational Analysis (OA), Behaviour in Organisations (BinO), Organisation Studies (OS), and a host of other names, including the practitioner area called Organisational Development (OD). There are, in fact, subtle nuances and variations inRead MoreOrganizational Behaviour Issues1427 Words Ã |Ã 6 PagesFinal Report- Organizational Behavior Ã¢â¬Å"Issues in Organizational Behaviour based on own experiencesÃ¢â¬ Student No. Structure: 1. Introduction 2. Main Body and Recommendations 3. Conclusion 4. References What is Organizational Behaviour? Organizational Behaviour is nothing else than developing our understanding and development of people skills. A multidisciplinary field devoted to understanding individual and group behaviour, interpersonal process and organizational dynamics. DifferentRead MoreEssay about Organizational Behaviour1051 Words Ã |Ã 5 Pagescom My essay will introduce the culture and organizational strategies of Amazon.com. I focus on the evolution of Amazon.com, the organization culture with the Scheins three levels of culture, the truth of working on Amazon, why is amazon so successful on the basis of organizational strategies and how to improve in the original basis. Organizational culture could be the core of the company and exists from the start of Amazon.com. Organizational culture is the shared values, beliefs, and normsRead MoreThe Development Of Organizational Citizenship Behaviour3154 Words Ã |Ã 13 Pages2001). Out of this comes the development of Organizational Citizenship Behaviour (OCB). OCB represents Ã¢â¬Å"individual behaviour that is discretionary, not directly or explicitly recognised by the formal reward system, and in the aggregate promotes the efficient and effective functioning of the organizationÃ¢â¬ (Organ 1988, p. 4). The study of OCB has become increasingly important as the prevalence, importance, and costs of counterproductive, or deviant, behaviour in the workplace have been increasingly recognisedRead MoreOrganizational Behaviour And Communication Issues Essay1452 Words Ã |Ã 6 Pages1.0 INTRODUCTION In this case-study for Electra ProductsÃ¢â¬â¢, I will be addressing relevant, organisational behaviour and communication issues that must be addressed in order to Ã¢â¬Å"revive the failing companyÃ¢â¬ (Samson, 2012). Specific recommendations will be offered to further assist in focusing on the key outlined issues and what actions would be most appropriate to take from this point. Throughout the report, it is clear the attitudes of staff are becoming unfavourable and has resulted in a lack ofRead MoreRoot Metaphors as an Aid to Understanding Organizational Behaviour3097 Words Ã |Ã 13 PagesRobert Allen 11500024 Root metaphors as an aid to understanding organizational behaviour and their relevance to organizations in a knowledge based economy. Introduction The use of root metaphors to provide insight into organizations seems to be seen as a useful if limited way of understanding their complex natures (Morgan, 1997) (Andriesson, 2008), which may have been more suited to the industrial age. The rise of the Knowledge Based Economy (KBE) and post-industrial organizations pose furtherRead MoreOrganizational Citizenship Behaviour (OCB) Essay1796 Words Ã |Ã 8 PagesÃ¯ » ¿What is organizational citizenship? Explain the links between the various types of organizational citizenship behaviors and job-related outcomes. In what ways does organizational citizenship affect organizational performance? Illustrate with examples where appropriate. Organizational Citizenship Organizational citizenship is an organizational success that consists of supports from the volunteers of individuals and behavior (Business Dictionary 2013). Organizational citizenship behaviors (OCB)
Wednesday, December 18, 2019
Ã¢â¬Å"The Scottish PlayÃ¢â¬ , or more known as Ã¢â¬Å"MacbethÃ¢â¬ is a play set in medieval Scotland. It describes the life of Macbeth Ã¢â¬â a brave lord predicted by the witches to become the King of Scotland. Lady Macbeth, his wife powered by ambition influences Macbeth into committing a horrendous regicide. Imagery is used widely throughout the course of the play, creating a three-dimensional image of the actions, almost as if we were present. Shakespeare in Ã¢â¬Å"MacbethÃ¢â¬ uses imagery to create a more detailed image and emphasize the themes of violence, murder and darkness. The omnipresent imagery of darkness evokes the sentiments of fear, danger and death. Ã¢â¬Å"Come thick night, and pall thee in the dunnest smoke in hellÃ¢â¬ associates the darkness of the nightÃ¢â¬ ¦show more contentÃ¢â¬ ¦Ã¢â¬Å"Boneless gumsÃ¢â¬ represents innocence and vulnerability, evoking feelings of pity. This is destroyed with the use of Ã¢â¬Å"pluckedÃ¢â¬ , Ã¢â¬Å"dashedÃ¢â¬ which have are full of violence and threat. This description frightens the audience, leaving it in shock. The tone of the author is bloodthirsty, full of gore. Imagery of death is well portrayed in the quotation Ã¢â¬Å"hear it not, Duncan, for it is knell that summons thee to heaven or to hell.Ã¢â¬ An image of the bell is used to show imminent death of the king. The bell is portrayed as the funeral bell that will Ã¢â¬Å"summonÃ¢â¬ Duncan to Ã¢â¬Å"heaven or to hellÃ¢â¬ . Ã¢â¬Å"SummonÃ¢â¬ has the connotations of summoning to court, which could stand for the judging of God. The desc ription creates suspense and increases tension. The tone is ominous and frightening. The night of murder Ã¢â¬Å"strange screams of death and prophesying with accents terribleÃ¢â¬ were heard. Ã¢â¬Å"StrangeÃ¢â¬ and Ã¢â¬Å"terribleÃ¢â¬ suggest the violence of the murder. Sibilance Ã¢â¬Å"strange screamsÃ¢â¬ create auditory imagery of hissing, whispering, which suggests danger and evil. The audience gets a sense of unease and the tension is increased. The murder is predicted in Ã¢â¬Å"the raven himself is hoarse that croaks the fatal entrance of DuncanÃ¢â¬ . Ã¢â¬Å"RavenÃ¢â¬ is a sign of ill omen, death, graveyards, which implies a terrible deed that will be done. Ã¢â¬Å"CroaksÃ¢â¬ has connotation of aShow MoreRelatedImagery of Blood, Light and Clothing in Macbeth by William Shakespeare540 Words Ã |Ã 3 PagesImagery of Blood, Light and Clothing in Macbeth by William Shakespeare Imagery, the art of making images, the product of imagination (Merriam- Webster). Shakespeare uses many forms of imagery in his writing of Macbeth. Three main forms of imagery in this play are blood, light and darkness, and clothing. Within each form of this imagery Shakespeare incorporates symbols that the reader must understand if they are to interpret either the passage or the play as a whole. In Macbeth blood symbolizesRead MoreMacbeth - Imagery in Macbeth1331 Words Ã |Ã 6 Pagess plays he uses many forms of imagery. Imagery, the art of making images, the products of imagination. In the play Macbeth Shakespeare applies the imagery of clothing, darkness and blood. (listed from least to most), Each detail is his imagery, it seems to contain an important symbol of the play. Symbols that the reader must understand if they are to interpret either the passage or the play as a whole. Within the play Macbeth the imagery of clothing portrays that Macbeth is seeking toRead MoreEssay on Images, Imagery, Symbols, and Symbolism in Macbeth1723 Words Ã |Ã 7 PagesImagery and Symbolism in MacbethÃ Ã Ã Ã Ã With its eye-opening plot and interesting cast of characters, William ShakespeareÃ¢â¬â¢s play, Macbeth is one of the greatest works one could ever read. But, above all, the aspect of the play is most impressive and overwhelming with imagery and symbolism that Shakespeare so brilliantly uses. Throughout the play, the author depicts various types of imagery and symbolism instances that, eventually, lead to the downfall of the main character, Macbeth. Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Read MoreThe Classification Of Water Imagery Present Throughout Shakespeare s Macbeth Essay1134 Words Ã |Ã 5 PagesShakespeare is renowned for his vividly descriptive, original, and pioneering use of imagery in many of his plays, but their effect on the audienceÃ¢â¬â¢s understanding of his plays is most obvious in the tragedies, particularly in Macbeth. Images in ShakespeareÃ¢â¬â¢s works are used, according to Shakespeare critic G. Wilson Knight, to craft a playÃ¢â¬â¢s Ã¢â¬Å"atmosphereÃ¢â¬ or the permeating tone or mood of a play (3). However, this attitude between images and atmosphere creates an environment where different definitionsRead More Imagery In Macbeth Essay example1406 Words Ã |Ã 6 Pages Response to Ã¢â¬Å"MacbethÃ¢â¬ 2. How does ShakespeareÃ¢â¬â¢s use of imagery and recurring symbols add depth and meaning to the plot and characters in the play? In all of Shakespeares plays he uses many forms of imagery. Imagery is the art of making images, the products of imagination. In the play Macbeth Shakespeare applies the imagery of clothing, darkness and blood. Each detail is his imagery, seems to contain an important symbol of the play, symbols that the audience must understand if they are to interpretRead More Images and Imagery in Macbeth Essays1474 Words Ã |Ã 6 PagesImagery in MacbethÃ Ã Ã Ã Shakespeare uses a variety of techniques in order to add depth and the underlying subtext within his plays. Macbeth is no exception, he uses the stark imagery of clothing, the sickening physicality of blood and the concept of darkness to communicate a number of themes.Ã In turn this conveys important symbols that can be found within the play. Ã Within Macbeth the imagery of clothing portrays how Macbeth is seeking to hide his disgraceful self from hisRead MoreImagery in Macbeth by William Shakespeare1172 Words Ã |Ã 5 PagesImagery in Macbeth William Shakespeare use of imagery creates a picture in the mind of his audiences that tells a thousand words. In most of his literary work, he shows the importance of imagery, and how authors can manipulate a readers feelings towards a character. In Macbeth, one of ShakespeareÃ¢â¬â¢s greatest plays, he shows his very skillfully uses imagery. Macbeth is one of the great tragedy themed plays by William Shakespeare. ItÃ¢â¬â¢s about three witches that decide to manipulate a Scottish generalRead MoreImagery in Macbeth848 Words Ã |Ã 4 PagesImagery in Macbeth Ã¢â¬Å"Violence and the bloodshed that results are important symbols in ShakespeareÃ¢â¬â¢s Macbeth. While the blood that is shed is a tangible reminder of the outcomes of misused power, it also serves as an image that provokes Macbeth to reflect upon his deeds, even if he does not change his behavior. Macbeth becomes obsessed with the blood on his hands. Unfortunately, this reminder of his guilt does not prevent him from continuing violent acts.Ã¢â¬ -Marshall Mc Luhan. Macbeth, one of theRead MoreDramatic Use of Images of Blood in William Shakespeares Macbeth1699 Words Ã |Ã 7 PagesDramatic Use of Images of Blood in William Shakespeares Macbeth Macbeth is the story of a nobleman, who, while trying to fulfil a prophecy told to him by three witches, murders his king to cause his ascension to the throne of Scotland. After the Kings death, Macbeth reigns as a cruel and ruthless tyrant who is forced to kill more people to keep control of the throne. Finally, Scottish rebels combined with English forces attack Macbeths castle. A Scottish thane namedRead MoreThe Use Of Imagery In Macbeth1428 Words Ã |Ã 6 PagesImagery is defined as a vehicle to represent objects, ideas, and actions using figurative language, in a way that appeals to our physical senses, Shakespeare was an expert at employing this technique in his works, with one of his most famous and renowned, Macbeth, using this device to perfection. Macbeth is a tragedy by William Shakespeare, illustrating the psychological effects of political ambition on those who seek power for its own sake. Shakespeare utilizes imagery numerous times throughout
Tuesday, December 10, 2019
Question: In a recent commentary on governance in family firms, a leading executive search consultancy argued, Corporate governance is a critical enabling factorfor the development of family-owned businesses.In your opinion, does that comment accurately reflect the significance of corporate governance to large family firms anxious to develop internationally or does the comment exaggerate the significance of corporate governance? Answer: As in a recent commentary on governance within family-owned businesses, a leading consultancy that searches for executive had argued that corporate governance is a critical enabling factor for the development of family-owned businesses. This report provides a deep insight into the given statement and whether the comment reflects accurately upon the significance of corporate governance to large family-based firms eager to develop internationally or it exaggerates the significance of corporate governance. The concept of corporate governance is at times misinterpreted as the key domain of big organizations with increased shares traded as per the global stock exchange. The need for effective corporate governance is quite more significant for small family-based businesses. One of the key strategic benefits of a family business is that of its bloodline. Family businesses, when run by few family members who are knit together firmly, can actually progress faster than any other bureaucracies can. These are the backbone of several economies across the globe, and their sustainability is crucial for the increased economic growth. Most of the biggest corporations around the world had begun and run by family dynasties. In fact some of the largest public-listed firms are family-owned. As per the statistics, around 70% of businesses within GCC are family-owned or even controlled. Hence, they play key roles in the economic development apart from own business contributions to create an environment of investment that is safe, open, transparent, and safe. Corporate Governance: Crucial for Family firms Effective governance refers to the concept of generating a sense of direction, values of working of living, and well structured policies that direct organizational members the right behavior and attitude to be executed at situations or certain circumstances. Some of the policies that form part of corporate governance are recruitment policies, promotion policies, emergency policies, and debt policies. The principles of corporate governance bring together the right individuation at right time to discuss the right things. The world of family business gives a joint mixture of business, ownership and family concerns which charge up the entire system of environments emotionally to plan as well as sole organizational issues. In such systems, one must manage problems in and across three groups that overlap: the business, the family, and the ownership group. Such overlap often causes difference in perspectives amidst individuals based on their location in all three circles. Perspectives may v ary among those family shareholders who are not employed within the business and that of those relative owners working within the business. for effective management of the business, ownership as well as family concerns need effective communication as well as decision-making in and across the family, the ownership, and the business groups. Ever-increasing goals as well as globalization have developed more challenges for businesses that are family-oriented. As per researches it has been identified that corporate governance acts as an enabling factor towards the development of family-businesses. Thorough practice of effective governance allows these businesses to develop robust business processes as well as prepare themselves for the future expansion. The concept of corporate governance creates the basic foundation for businesses that are family-based to act more accountably and be more transparent to their operations. This would lead to good opportunities for sustainable growth, enhanced performance and profitability. All GCC family firms are increasingly becoming aware of the rising significance of corporate governance; however for still some business firms, the concern is not yet the priority. As business ownership shifts from one generation to another, the potential drivers for improving governance as well as transpa rency are related to the objective to develop as well as pass on a healthy as well as efficient business firm to the successive generation. As stated in the statement, research evidences exist is favor of the given statement that corporate governance acts as a crucial enabling factor for development of family-businesses. The statement can be greatly complied with as with the increase in growth as well as globalization, several challenges have been imposed for family-oriented businesses and most of these challenges can be managed with adoption of sound as well as effective structures of corporate governance. With the expansion of family-business, the relationship amidst the business owners, managers, and employees gets more complex. For managing all the concerning issues, an effective corporate governance system must be in place with right policies for managing all complexities. Corporate governance develops a potential organizational structure which clarifies objectives, report lines, and also delegate responsibilities. It even draws a line midst the ownership and that of the management and separate direction of policies from regular operations of the firm. Successful business firms are the outcome of the hard work as well as dedication for years. Also there is a need to ensure that leadership transition may not disrupt the growth of the firm. For passing the success to the next generation, concept of corporate governance must be made an integral part of the culture of the family business so as to ensure distinct policies to select the right member from the family to take over. The corporate governance would provide distinct guidelines to employ family or non-family members along with promotion of employees based on performance that is vital to incorporate business sustainability. An effective governance system enables resolution of conflicts in the family set up, thus enabling the family members to emphasis upon important business issues. This often leads to an open process of decision-making which ensures impartiality. The tool of corporate governance prevents tension and also raises the firm business reputation. The following corporate governance principles are to be followed within the family-business: Effective shareholder recognition acts as the key step to maintain stock prices of a firm. Often, small shareholders having little impact upon the stock price are made aside to give way to the major shareholders interest and that of executive board. Sound corporate governance ensures that all stakeholders get equal right and voice at meetings and equal opportunity for participation. Stakeholder interests must be identified by the corporate governance. Specifically, taking out time for the non-shareholder stakeholders may enable creation of positive relationship with the press as well as community. Board responsibilities are to be distinctly outlined to all major shareholders. They must share the same vision to realize the successful future of the company. Ethical behavior violation for gaining increased profits may cause severe problems to the firm. For this a definite code of conduct is maintained for all organizational members. Business transparency is essential for ensuring shareholder trust. Earnings or financial records are to be presented without any exaggeration. Hence, corporate governance strengthens as well as clarifies the functionalities of family members while enhancing the overall competitiveness. Transparency of responsibilities as well as proper functioning of all corporate organs is in the interest of owners, stakeholders, and the whole business firm. It is quite important that within family business, the roles as well as responsibilities of the owners, executives are distinct and approved. Family-based businesses use the tool of corporate governance in a particular manner. Here, mutually-agreed practices of corporate governance as an effective tool to develop as well as control business activities. The owners are usually aware of their roles and impacts. Corporate governance of family businesses that is defined clearly creates additional value to operations of external stakeholders like that of financial or investment processes. The importance of corporate governance within the family businesses can be supported further with some highlights upon the significance of the concept in such business undertakings. The structures as well as institutions of all family governance need some level of formalization so as to function effectively. When family adopt policies upon the approach of the family towards business as well as to govern the business, the members would formalize all efforts with documents which will differ based upon ownership business stage. It has been identified from research that family businesses recognize the lack of governance structure of a family which may be one of the greatest causes of conflict, specifically in terms of succession. Successful businesses are the outcome of years of hard work as well as dedication. Corporate governance must be a part of the culture of the family business so that successful businesses are passed on from one generation to another. This is specifically signific ant in case of owner-managed firms whereby owner-manager must define his future engagement into the daily operations of the business, whether to pass on the business to family member or a partner, or even exit through public listing. The concept of family ownership is often regarded as an opportunity or even a threat, based upon various factors. The ownership of the family member as well as commitment towards business can be referred to as adding of value, only if the firm along with the controlling members can respond to the various concerns of the community of investors. Shareholders as well as creditors often may intervene with distrust upon the family-managed firms, due to the risk which such family may abuse the rights of other shareholders. It is a common idea that investors would scrutinize those firms with care prior to investing into it. From the perspective of an investor, the key issue is to develop the perfect corporate governance factors and conditions so as to couple t he positive aspects of family ownership along with assurances about the fact that the investments of the investors would be suitably and favorably recognized as well as addressed. In case of family businesses, the governance is often a complicated aspect than that of non-family businesses due to the central role of the family which owns as well as typically heads the business. Therefore, governance is the most important requisite in case of family businesses. In such businesses or other forms of enterprises involving family investment funds or foundations, the key issue is the lack of effective governance. It has been identified through researches that all those businesses that successfully improved governance reaped lasting benefits. With respect to the corporate governance in business firms, an aspect that is to be highlighted here is that the absence of proper sound governance is not confined to small firms only. Even in case of large firms, the family business may lead to painful turmoil while dismissing the family chairman. Such dismissal may seem abrupt to him and family allies. Effective governance in family businesses adds basic ingredients for such businesses to operate in the following manner: Clarity on rights, roles, and responsibilities for members of all three circles Motivating family members, owners, business employees for acting responsibly Regulating perfect owner as well as family inclusion within business discussions. It may be intensely argued upon that application of effective governance principles would reduce the issues related to information asymmetry, and render less risk to towards investment into the business as corporate governance has been a global acceptance and considered a legal system as well as sound approaches based on which organizations are directed as well as controlled, thereby emphasizing upon the internal as well as external structures with the intention to monitor the actions of management for mitigating the risks imposed by the misdeeds of corporate superiors. The measures of corporate governance which family businesses may adopt will vary, based upon the stage to control the ownership of the family. This may often highlight the demerits of corporate governance. For large family firms that aim at expanding internationally, the corporate governance would act as an effective mechanism to deal with numerous problems nationally and internationally. From the above study, it is c lear that corporate governance is an important aspect for any business firm, be in family businesses or non-family businesses. The comment which has been made that corporate governance is a critical enabling factor for the development of family-owned businesses thus accurately reflect the significance of corporate governance to large business firm that aim at developing internationally. When a business firm conducts all its operations and deliverances in a controlled manner with the advent of corporate governance, the extent of the success of the firm becomes higher. Thorough practice of effective governance allows these businesses to develop robust business processes as well as prepare themselves for the future expansion. The concept of corporate governance creates the basic foundation for businesses that are family-based to act more accountably and be more transparent to their operations. This would lead to good opportunities for sustainable growth, enhanced performance and profitability. With the entering of the Middle East into a new growth phase as well as integration in a close manner with the world ec onomy, firms that are family-oriented and have been ignoring corporate governance are likely to lose competitive advantage in the near future. Family-based firms are some of the most successful firms across the globe; however these must incorporate corporate governance at a high standard, and best practices of international level should be applied to domestic as well as regional firms for competing with several multinationals that enter the market. Some of the key benefits include improved access to opportunities and also attracting foreign investment as well as potential talent. References Arcot, Sridhar and Valentina Giulia Bruno, 'Do Standard Corporate Governance Practices Matter In Family Firms?'SSRN Journal Aguilera, Ruth V. and Rafel Crespi-Cladera, 'Firm Family Firms: Current Debates Of Corporate Governance In Family Firms' (2012) 3Journal of Family Business Strategy Arora, Nikhil and Jyoti P. Gupta, 'Do Family-Held Firms Have Weak Corporate Governance?'SSRN Journal Carney, Michael, 'Corporate Governance And Competitive Advantage In Family-Controlled Firms' (2005) 29Entrepreneurship Theory and Practice Chen, En-Te, Stephen Gray and John Nowland, 'Family Representatives In Family Firms' (2012) 21Corporate Governance: An International Review Chen, Yugang, Wenjing Li and Karen Jingrong Lin, 'Cumulative Voting: Investor Protection Or Antitakeover? Evidence From Family Firms In China' Corporate Governance: An International Review Cucculelli, Marco and Francesco Marchionne, 'Market Opportunities And Owner Identity: Are Family Firms Different?' (2012) 18Journal of Corporate Finance Fu, Liang, Ran Lu-Andrews and Yin Yu, 'Liquidity And Corporate Governance: Evidence From Family Firms'SSRN Journal Gonzalez, Maximiliano et al, 'Corporate Governance Mechanisms In Family Firms: Evidence From CEO Turnovers'SSRN Journal Isakov, Duan and Jean-Philippe Weisskopf, 'Pay-Out Policies In Founding Family Firms' Journal of Corporate Finance Latrous, Imen and Samir Trabelsi, 'Do Family Firms Use More Or Less Debt?' (2012) 3IJCG Matias Gama, Ana Paula and Jorge Manuel Mendes Galvo, 'Performance, Valuation And Capital Structure: Survey Of Family Firms' (2012) 12Corporate Governance: The international journal of business in society Matias Gama, Ana Paula and Ceclia Rodrigues, 'The GovernanceÃ ¢Ã¢â ¬Ã Performance Relations In Publicly Listed Family Controlled Firms: An Empirical Analysis' (2013) 13Corporate Governance: The international journal of business in society Piesse, Jenifer, Igor Filatotchev and Yung-Chih Lien, 'Corporate Governance In Family-Controlled Firms In Taiwan' (2007) 54International Review of Economics Pindado, Julio, Ignacio Requejo and Chabela Torre, 'Do Family Firms Use Dividend Policy As A Governance Mechanism? Evidence From The Euro Zone' (2012) 20Corporate Governance: An International Review Shea, Hubert, 'Review Article - Family Firms: Controversies Over Corporate Governance, Performance, And Management'SSRN Journal Spanos, Loukas J., 'Corporate Governance Rating Of Family Firms At The Athens Exchange Market' (2008) 34Managerial Finance Spanos, Loukas, Lena Tsipouri and Manolis Xanthakis, 'Corporate Governance Rating Of Family Firms At The Athens Exchange Market'SSRN Journal Swamy, Vighneswara, 'Corporate Governance In Family Owned Small Firms'SSRN Journal Tsatsoulis, Ektor, 'Corporate Governance And Corporate Social Responsibility In Family Owned Firms: A Case Study Of A Greek Shipping Company'SSRN Journal.
Monday, December 2, 2019
Monetary policy is the process by which the Monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. Fiscal Policy is government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates and government spending, in an effort to control the economy. How is the Monetary Policy different from the Fiscal Policy? The Monetary Policy regulates the supply of money and the cost and availability of credit in the economy. It deals with both the lending and borrowing rates of interest for commercial banks. The Monetary Policy aims to maintain price stability, full employment and economic growth. The Fiscal Policy can be used to overcome recession and control inflation. It may be defined as a deliberate change in government revenue and expenditure to influence the level of national output and prices. INSTRUMENTS OF MONETARY POLICY 1. We will write a custom essay sample on Monetary Policy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Bank Rate of Interest 2. Cash Reserve Ratio 3. Statutory Liquidity Ratio 4. Open market Operations 5. Margin Requirements 6. Deficit Financing 7. Issue of New Currency 8. Credit Control Bank Rate of Interest It is the interest rate which is fixed by the RBI to control the lending capacity of Commercial banks . During Inflation , RBI increases the bank rate of interest due to which borrowing power of commercial banks reduces which thereby reduces the supply of money or credit in the economy . When Money supply Reduces it reduces the purchasing power and thereby curtailing Consumption and lowering Prices. Cash Reserve Ratio CRR, or cash reserve ratio, refers to a portion of deposits (as cash) which banks have to keep/maintain with the RBI. During Inflation RBI increases the CRR due to which commercial banks have to keep a greater portion of their deposits with the RBI . This serves two purposes. It ensures that a portion of bank deposits is totally risk-free and secondly it enables that RBI control liquidity in the system, and thereby, inflation. Statutory Liquidity Ratio Banks are required to invest a portion of their deposits in government securities as a part of their statutory liquidity ratio (SLR) requirements . If SLR increases the lending capacity of commercial banks decreases thereby regulating the supply of money in the economy. Open market Operations It refers to the buying and selling of Govt. securities in the open market . During inflation RBI sells securities in the open market which leads to transfer of money to RBI. Thus money supply is controlled in the economy. Margin Requirements During Inflation RBI fixes a high rate of margin on the securities kept by the public for loans . If the margin increases the commercial banks will give less amount of credit on the securities kept by the public thereby controlling inflation. Deficit Financing It means printing of new currency notes by Reserve Bank of India . If more new notes are printed it will increase the supply of money thereby increasing demand and prices. Thus during Inflation, RBI will stop printing new currency notes thereby controlling inflation. Fiscal Policy It refers to the Revenue and Expenditure policy of the Govt. which is generally used to cure recession and maintain economic stability in the country. The term fiscal policy refers to the expenditure and taxation policy of the government, which can influence economic activity by its expenditure program and imposing or lifting taxation on certain goods and services. Fiscal policy aims at raising financial resources through taxation and borrowing within the country and from abroad. Objectives of the Fiscal Policy Promotion of Economic Development and Growth Mobilization of Resources Reduction of Inequality of Income Expansion of Employment Price Stability Instruments of Fiscal Policy 1. Reduction of Govt. Expenditure 2. Increase in Taxation 3. Imposition of new Taxes 4. Wage Control 5. Rationing 6. Public Debt 7. Increase in savings 8. Maintaining Surplus Budget