Thursday, December 26, 2019

Crafting an Innovative Culture and Organisation - Free Essay Example

Sample details Pages: 8 Words: 2290 Downloads: 7 Date added: 2017/09/12 Category Advertising Essay Did you like this example? It is vital for a business to be innovative especially in this modern era where the market is highly competitive all over the globe. Crafting an innovative culture and organization has become one of the challenging issues that 21st century managers will have to face and tackle it. To be innovative is to introduce new ideas successfully whereas culture carries the meaning of certain ways of life like beliefs, values and behaviors that are shared among a particular social group (Jennex, 2008, p. 107). Innovate or die. It is this serious for organisations if they are lack of innovation as it is seen as the engine of an organisation for growth (Bryant, 2007). Innovation is the key to success and survival for a corporate. Successful leaders and companies recognize innovation as a force that drives growth. Furthermore, innovation is achieved by sharing a continuously intense growth attitude, passion for solving problem and also turning thoughts into realities. Being innovative will only lead to more growth as new markets, services and products are introduced and re-invent. Don’t waste time! Our writers will create an original "Crafting an Innovative Culture and Organisation" essay for you Create order This depends solely on an organization’s capability to recognize market opportunities, its internal abilities to respond to situation innovatively and also its knowledge base (Kotelnikov, n. d. ). The characteristics of a typical innovative organisation are that the company’s management tolerates failure when individuals take on risks to be innovative. Next, bureaucratic policies are kept at a minimum level in order to keep the job description easily comprehensible and allow flexibility for the employees to have an opportunity to improvise it. An innovative organisation also does not analyse risk continuously whereas it measures both potential benefit and risks involved before making any decisions. There are also two groupings of employees in an organisation where the first would be the one who are applying others’ ideas and the other type would be the risk-taker. However, these groupings are still given equal rewards for their dedication, loyalty and willingness to take risks. Besides that, the management is open to ideas from any employee as it realises the importance of it that can actually bring success and longevity to the organisation. Furthermore, the organisation encourages suggestion for improvement and would appreciate and pay attention to ideas regardless of their sources. Subsequently, informal communication is strongly encouraged even if individuals are from different department background and also interpersonal skills. The reason for this is it can build trust and loyalty towards the organisation as a whole (Mintzer, 2004). It is necessary to study the characteristics of an innovative organisation and how it functions in order to create one. Innovation is a mindset where it is influenced by a person’s thoughts and acts. Therefore, having the right corporate culture can aid in crafting a successful innovative organisation. There are many organisations have attempted to implement systems to create an innovative culture but this is only a way to commence the process. In order to craft an innovative culture, top managers in the corporate will have to first be aware of their own actions, words, and decisions in detail as it can inspire the others to innovate actively (Bryant, 2007). There are two methods to change a culture in a corporate; the engineering approach and mindful approach. The engineering approach has three levels that are relatively easy to put in practice to shape the right culture. Firstly, it is the slogan level where the purpose is to create a culture. Although in reality, the company’s slogan does not always match with the management in it, slogan can still serve as a starting point. Second, the incubation level can assist the process of creating an innovative culture by developing groups or appointing someone that is responsible for innovation. Next is the compliance level which refers to implementing systems to encourage creativity. For example, the suggestion schemes, reward and recognition schemes are systems that can promote creativity and may even change a corporate culture. Undeniably, the engineering approach is a good start but it is very limited and is not sufficient to form an innovative culture, hence this is where the mindful approach comes in place. This approach is based on employees observing and taking signals from top-level leaders meaning that every action is vital. In order to achieve this approach, managers will have to change behaviors and habits that are often unconscious and traditional values. There are also three levels for this approach. First of all, the attention level describes that top-level managers have to give more attention to actions and employees to encourage innovation. Managers should be open to ideas and broaden their view where it focuses on creativity, knowledge, and context rather than risk, status and content. The next level is disruption level. This states that although conformity is needed at an essential level for corporate to function smoothly, disruption should not be suppressed as this will hinder innovation. Therefore, the senior managers must possess a skill that juggles the tension of these two identities for creativity to happen. They should also lead others to get out of the comfort zone and show direction to truly change the culture of the corporate. Lastly, the interaction level would be the most difficult to attain as it require the leaders to be constantly aware of himself, the way of interaction with others. This is due to the fact that leaders can convey distinct information through voice tone and body language in just a split second. For example, leaders inspiring fear or challenge and pessimism or optimism can be very critical as this usually happens unconsciously (Bryant, 2007). For innovation to sustain, imitating best practices of other’s in a robotic manner is not the way. The true catalysing agent for continuous flow of innovation actually comes from culture. The same issues are always discuss in books about innovation but all those cannot be apply without the presence of the basic element, that is the culture created deliberately for innovation. Companies are actually living organisms, not machines. We keep bringing in mechanics, when what we need are gardeners. claimed Peter Senge. This statement is contradicting with the classical perspective where it states that to make organisation into an efficient operating machine. The metaphor of â€Å"creating a garden† closely illustrates what an organisation should do. Creating a culture is not an easy task because most of the corporate have uncult ivated ground and need clearing. Gardening requires constant hard work and systematic effort to get a yield. On the other hand, for an organisation to create the culture for innovation involves plenty of time to carry out each step methodically just like the gardeners (Ditkoff, 2010). First of all, the gardener of innovation must desire for results. The final product of employees is what that motivates the gardener. He must be committed in order to harvest the result, whetting the appetite of the workforce as well as awaken them to feel the urge to move in the same direction. Secondly is to stake and prepare a ground for innovation where a corporate focuses in fields that it wants and start the preparation for planting. This involves removing obstacles to create a strong foundation. After that is to find diverse seeds, meaning ideas to increase the chances of having an interesting yield. Next is to plant the seeds in a more effective way so that it will have the opportunity to grow into seedlings. The following step is to fence the garden, meaning building a territory to protect it from naysayers and external environment. Conceiving a garden denotes conceiving new ideas is easy than to transform ideas into life. Majority of the company’s are not aware of the process for developing the growth of new ideas and had caused many new ideas turned down. Besides that, inexperienced gardeners are often influenced by their drive for large harvest that leads them to plant more seeds making it too crowded within the same space of ground. This has created a converse result where the plants are stunted due to the fact that the plants compete for limited resources for growth. This goes the same for the gardeners of innovation where if too many ideas exist at the same time, it will only lead to great competition for the limited resources and the ideas will also be stunted. Therefore, organisation will have to select the most appropriate ideas and create a favorable environment. Last but not least is to celebrate the harvest. There are cultures having ritual or ceremony to show appreciation of harvest and organisation should also do the same by acknowledging employees’ hard work. This can even motivate the whole workforce and create a culture of innovation that can sustain. Hence, culture should be cultivated and not to be managed (Ditkoff, 2010). A real-life example of an innovative organisation would be the Honda Motor, a deeply innovative company culture that ranks second in the list of most admired companies in the motor vehicles industries after BMW (CNNmoney, 2010 [b]). The Honda Motor is worth to be admired as being innovative is one of its priorities. Honda had created many innovative products like the robot that connects to the brain that analyses thoughts pattern and transmit them s wireless command for Asimo, the human-shaped robot (Kageyama, 2009). Besides that, it also has created innovative leading cars like the hybrid car that won Toyota Prius by a month, the full-size SUV Honda and an upcoming hydrogen fuel cell hybrid car that is fuel-efficient (Morgan, n. d. ). Soichiro Honda, the founder of Honda motor once said â€Å"do not imitate† that had reflected in the hearts of Honda’s employees and now they are persistently challenging themselves to keep being innovative (Honda, 2010). Honda Motor had excellence performance where the revenue had increased nearly 40% from the year 2002 to 2008. Honda could achieve excellence is due to its willingness of letting their engineers experiment and explore. Furthermore, it also produces affordable innovative products that the society wants. Honda is the opposite of Toyota where Toyota tend to be more bureaucratic whereas Honda is towards entrepreneurial, sometimes may even be quirky. Honda’s organisation structure is relatively flat that had made job advancement rather limited and does not pay their employees as much as the competitors do. Nevertheless, their satisfaction and loyalty towards the company had made the company to be a success. Takeo Fukui who holds the current position of president and CEO confessed that he only meets with the research and development’s management once or twice a year so that engineers can work freely (Taylor, 2008). Honda’s philosophy has created the innovative culture today as it was stated to have respect for individuals. Everyone is given an opportunity and honors their contributions. Respecting others means by giving equal treatment regardless of background, to give freedom for initiative to take place and build mutual trust relationship among associates. Honda has 5 management policies that are aimed to encourage innovation. It is to stay ambition and youthfulness which means having a dream that can give them the positive energy to constantly motivate them and to always be open-minded with new ideas. Next is to have the flexibility to accept new ideas and to use the time efficiently. Furthermore, enjoy and lighten the working atmosphere and achieving harmonious flow of work are also their management policies. Lastly, it is to be mindful of the value of research and strive is its management policies (University of Milan, n. d. ). The culture in Honda encourages innovation and the leadership also wants it. Besides that, Honda’s official website even has a section that dedicates to their focus on innovation and results of it. Honda has this innovative culture deeply rooted in its organisation ever since it commenced. Honda also demonstrates an example of cultivating its culture since it is established. It desires for result, creates an environment that encourages their employees to innovate freely, take risks, prepares platform for the engineers to strive, selects appropriate ideas, uses the time efficiently and acknowledges their contribution. To create an innovative culture and organisation, the corporate will have to first overcome certain issues like lacked of shared vision, short-term thinking, reluctant to acknowledge and learning from the past mistakes, risk aversion and many more (Ideachampions, 2010). In order to change an organisation into an innovative one, the culture of it will have to be transformed first. An innovative culture of an organisation should be cultivated and not to be managed in order to be successful and sustainable. REFERENCES Bryant, B. (2007) Shaping an Innovative Culture: Are Your Actions Shaping or Breaking Innovation?. ttp://www. imd. ch/research/challenges/TC067-07. cfm [accessed 10 May 2010]. CNNmoney (2010 [a]) World’s Most Admired Companies 2010: Apples Snapshot. https://money. cnn. com/magazines/fortune/mostadmired/2010/snapshots/670. html [accessed 10 May 2010]. CNNmoney (2010 [b]) World’s Most Admired Companies 2010: Industries – Motor Vehicles. https://money. cn n. com/magazines/fortune/mostadmired/2010/industries/39. html [accessed 10 May 2010]. Ditkoff, M. (2010) Create a Garden Of Innovation!. https://www. ideachampions. com/weblogs/archives/2010/01/post. shtml [accessed 19 April 2010]. Honda (2010) Honda: Innovation. https://corporate. honda. com/innovation/ [accessed 10 May 2010]. Kageyama, Y. (2009) Honda connects brain with robotics. https://www. msnbc. msn. com/id/29972476 [accessed 14 May 2010]. Jennex, M. E. (2008) Current Issues In Knowledge Management, Information Science Reference, New York. Kotelnikov, V. (n. d. ) Key Features of an Innovation-Friendly Organization. https://www. 1000advices. com/guru/innovation_organization_vk. html [accessed 19 April 2010]. Mintzer, B. (2004) Newsletter by Barbara Mintzer: Characteristics of an Innovative Organization. ttp://www. barbaramintzer. com/newsletters/july2004. html [accessed 18 April 2010]. Morgan,H. (n. d. ) History of Honda Cars. https://www. ehow. com/about_5332242_history-honda-cars. html [accessed 14 May 2010]. Taylor, A. (2008) Inside Honda’s Brain. https://money. cnn. com/2008/03/03/news/companies/taylor_honda. fortune/index. htm? postversion=2008030705 [accessed 9 May 2010]. University of Milan (n. d. ) Corporate culture and global competition: The Honda philosophy. https://wwwold. unimib. it/symphonya/artfurlaningl. pdf [accessed 10 May 2010].

Wednesday, December 18, 2019

Short-Term Memory The Second Stage in Memory Processing

Short-Term Memory Diana Nunez Nicholas Salter, Ph.D. Introduction to Psychology Psychology 101, Section 8 October 26, 2010 Short-Term Memory The short-term memory is the lead to our long lasting remembers. Short-term memory is the second stage in the memory processing (Huffman). The short-term memory is the part of the memory that temporarily stores and processes information from the sensory memory and holds it until it decides if the information will be sent to the third stage or long-term memory (Huffman). The short-term memory stores a mixture of perceptual analyses information (Huffman). The short-term memory works in different ways to increase its small capacity; it uses rehearsal and chunking to be able to remember more†¦show more content†¦But the case is that counting task requires short-term memory retention, which is the main memory task (Berman, Jonides, and Lewis). Another problem in assessing the role of decay on short-term memory is the habitual tendency of rehearse materials that are to retain (Berman, Jonides, and Lewis). An example that Berman, Jonides, Lewis give is when we look up a phone number in the directory and then walk to the phone, we rehearse the number in our head until it is dialed. They are trying to come up with different techniques to prevent rehearsal, to get an accurate gauge of whether decay has an effect on memory (Berman, Jonides, and Lewis). Working Memory Theory based research has revealed that working memory is a system that allows a person to maintain task goals, update memory to meet current demands, and to separate memory to form relationships (Shelton, Matthews, Hill, and Gouvier). The working memory is also referred to a general purpose system that is responsible for the active task or goal relevant information while simultaneously processing other information (Unsworth, Spillers, and Brewer). The general purpose system includes: problem solving, reading, coordination and planning, and the basic intellectual functions, which leads to research on the capacity of the working memory (Unsworth, Spillers, and Brewer). â€Å"Beginning with Daneman and Carpenter (1980), mostShow MoreRelatedEssay on The Control Processes of Short and Long Term Memory958 Words   |  4 PagesOn a day-to-day basis humans are processing different information constantly. Have you ever wondered how this is possible? Have you ever wondered why you are able to obtain new information, store it, and then recall it for later usage? For example, how is it possible that we can study for a test one day, and then the next day we are able to retrieve that very information to use to take and pass a test? 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Memory refers to the mental capacity to retain information and convert it into a form that can be stored and retrieved at a later time. Storing and retrieving memories involves passing information from one stage to the next and then retrieving that information from long-term memory. (Burton, Westen Kowalski, 2012, p.261) Memory is an integral part of human survival and withou t it, learning new skills, such

Tuesday, December 10, 2019

Prologue why does the play keep its audience enthralled to the end Essay Example For Students

Prologue why does the play keep its audience enthralled to the end? Essay Romeo and Juliet is a play written by William Shakespeare. It is a very tragic play mixed with comedy and romance. The Prologue tells us a brief outline of the story. Some would say it ruins it. In this essay Im going to attempt to explain why the play never fails to keep its audience on the edge of its seat. From ancient grudge break to new mutiny. This part of the prologue tells us that there is an argument that has gone back generations but has recently been caused to flare up again. It doesnt tell us why there is the fall out nor tell us when it started or flared up again. Where civil blood makes civil hands unclean. This tells us that they are dragging the local citizens into the fights. As innocent people are being involved, everybody is involved either directly, emotionally, by marriage or by blood. And that many people are being killed there is that many funerals it is becoming unclean From forth the fatal loins of these two foes, A pair of star-crossed lovers take their life. This is probably the most important part of the prologue as this is where the play builds up to. It tells us that each family bore a child, one male, one female. The two have been destined to be together and fate causes them to fall in love. It does not tell us yet which belongs to which family. It goes on to say they kill themselves. It does not, as of yet, give any information as to why they do so but it gets the desired effect. The shocked emotion flows from us aside the saddened and angered ones intriguing us as to find out why this has happened. Whose misadventured piteous overthrows, Doth with their death bury their parents strife. This is telling the audience that they had been trying to be together but couldnt. Even though they had tried with their entire power put together to be with each other, their parents were just too powerful causing their attempts to look pathetic in comparison. They are misadventured because the family is just trying to kill each other but all Romeo and Juliet want to do is know the other is safe. This is quite ironic when you consider how they do die. They think the other is dead so kill themselves which is just a deception of their bodies as they are not, so after all they were safe except from themselves. They are deeply in love but their families are so hateful they do not notice or do not care how much they are hurting their children. After the death of the two young lovers, the parents realize how stupid and petty they have been. So they call a truce and become friends sealing the grudge as ancient. As we later find out at the same time they make friar Lawrences hopes when marrying the couple come to fruition. He marries them because he believes it may stop the fighting, and although Romeo and Juliet end up dead the quarrel stops. So evil occurs for the better. There is also a play on words. The prologue says bury the strife, but Romeo and Juliet were buried at the same time. So there is terrible irony written into the prologue. The fearful passage of their death marked love, And the continuance of their parents rage, The lovers created themselves a fearful passage as their emotions took them into dangerous situations. For example, on the balcony scene if the lovers had been caught Romeo would have been killed. Another example is the secret wedding. If the two were found out they would probably have been disowned if not murdered. Although it was all in the name of love, they were constantly living in fear. So although the lovers didnt get to be together long before their unfortunate end, they gave a fearful passage. The death marked love could have a deeper meaning than first meets the eye. The obvious is that they died. This would give death marked love but as they would have been killed if they had been found out and narrowly escaped on frequent occasions, it also gives another perspective to the situation. Throughout the entire play, the parents dont stop arguing and feuding, so that is the co-starring subject of the film. Their parents are too wrapped up in the fight they dont realize how petty the argument is. Until the dramatic and tragic death of their children, they dont care. The quarrelers dont know how much they are hurting their children. Dont know or dont care. When being performed the director can portray them differently but this is how Shakespeare does it as a director. The prologue then goes on to say that this all happens in the next two hours and if we will be patient the actors will try to show us how it really happened. When the audience considers that all this will happen in a matter of hours, they think it must be a pretty intense play. Another reason that after the prologue tells you the story the play keeps you enthralled is the use of extremely powerful and emotion evoking words and phrases. These words capture the imagination and makes you wonder how? Or why? The most evocative words are: Dignity, mutiny, foes, life, misadventured, piteous, overthrows, death, bury, strife, love and continuance. Some emotive phrases are: ancient grudge, civil blood, fatal loins, star-crossed lovers, fearful passage, and parents rage. Romeo and Juliet just on its own is a very complex plot, but upon closer examination the lovers are also trapped in sub-plots. Shakespeare uses this device to keep up suspense in the audience because even though the main plot is intense, he decided to create more tension by having other storylines. The main plot of Romeo and Juliet tells of two youths meeting by chance at a masked ball, fall in love immediately. The twist is that the youths are children of two enemies. They meet again secretly, get married with Romeos servant and Juliets Nurse present. Due to a fight between the famillies they get seperated, they manage, taking phenomenal risks, to see each other again. Alas the time comes when they must leave each other, and due to a very unlucky and untimely mix-up they both commit suicide. Other than Romeo and Juliet only 3 other people know about their love, Frair Laurence, Balthazar, and Nurse Capulet. Then when everything gets out in the open the parents reconcilliate and thats more or less the lot. Romeos subplot starts with the fact he is lusting over Capulets niece. He thinks he is in love with her but shes not interested in males. Romeo secretly thinks the reason the families think they hate each other is because they love each other but are confused by the emotions. His best friend Mercutio invites him to a ball. Next at the ball, he meets Juliet, and falls in love. He meets up with her later and arrange to get married the next day. After the wedding, he goes to his friends to find Mercutio and Tybalt arguing. As he is now married and wishes to cause no trouble with the Capulets he declines the offer of a fight. Mercutio dies in Romeos place. As an act of insane revenge he kills Tybalt. Romeo thus gets banished and cant see his wife anymore. Due to the mix-up Balthazar tells Romeo that Juliet is dead. Romeo buys a very powerful poison and lies next to Juliets comatose body and consumes it. Juliet , on the other hand, has a very different story to tell. Her mother and father wish her to get married to Count Paris. She meets Romeo and the story is the same as Romeos. Then after he is banished her parents try to arrange the marriage. In desperation, she goes to the friar who gives her a sleeping potion, which will make her appear to be dead. She drinks it and wakes to find Romeo dead next to her. She uses his weapon to commit suicide. The novel Things Fall Apart EssayThere is another battle at the end before Romeo sees the apparently dead Juliet. It is between Romeo and Count Paris. Paris goes to lay flowers across Juliets grave but is interrupted by Romeo. As Romeo is a Montague he thinks he has gone to trash the tomb. He hasnt of course but Romeo fights in self defense and Paris dies. There are a lot of misunderstandings in the play which lead to fights that shouldnt occur. This is what life is like in a lot of cases. The feuds would be exiting because they get to see real fight before their eyes which they otherwise wouldnt see. This wold be a major thing because unlike us, they cant turn on the television and watch a fight better than those. Prince Escalus has a lot to say about their fights. He was getting tired of all the fighting and after the fight in act 1 scene 1 says whoever starts the next fight shall die. Alas, when Romeo slays Tybalt, the Prince understands that Romeo did as the law would have done but as he took it into his own hands he must be punished. Banishment. At the end when Romeo and Juliet die it is very touching and gives the audience something to think about. This means although the play has comedy the end is as Shakespeare had planned the entire play very tragic. As Romeo and Juliet are children of two enemies, they must keep their relationship secret. This would create suspense in the audience as they are waiting for them to be caught. This would keep them enthralled. There are lots of things that show this. There is irony with the meeting. They meet at a masked ball, when they meet and fall in love they know they must keep their love masked. Also, Romeo must keep his masked his mask on during the party so concealing his true identity as they must conceal their love. In the famous balcony scene, Romeo and Juliet meet secretly. Even at the beginning of this scene, Romeo is hidden from Juliet. The only person Juliet can trust about their relationship is her nurse who brought her up instead of her mother. The only person Romeo trusts is his servant, Balthasar, who later is his best man at their wedding. So when Juliet needs to find out details of the illicit wedding she sends the nurse. They have to keep the wedding night secret too so the nurs e warns the lovers when lady Capulet is ascending up the stairs to her chamber. The idea of all the secrecy builds tension within the audience. It also constructs fear because if Romeo and Juliet get caught they will be killed because of their association with each other. This is ironic as although they are not found out they die because of the relationship. The fact alone, that Shakespeare explores the theme of love at all would interest the audience. Romeo and Juliet fall in love even though it is against a background of hate. This could be because when they first meet they do not know they are enemies, but a main moral in Romeo and Juliet is you cant help who you fall in the love with. But, one thing a lot of people mistake is the difference between love and hate. They are both extremes of opposite emotions. Romeo realises this from an early age and thinks the feuders love each other but do not know how to handle it. He is right. Love and hate often get confused because the feelings are so strong. They normally form through one another. If you love someone its easy to hate them and vice versa, but love does strange things. For example Juliet is an obedient girl. She shows this when her mother asks her if she could love Paris. She replies, Juliet: Ill look to like if looking liking move But Ill no longer endart mine eye, Than your consent to make it fly. So she is doing the proper thing but when Romeo comes along she doesnt care what her parents say so this shows that love changes your perspective on everything. They say that kids see things as they are without the complications adults would see and thats how the lovers see it they love each other, thats all that matters. Neither Romeo nor Juliet agree with the fighting and then they do the opposite of hating each other. This shows irony. In this play lots of types of love are displayed. Paris loves Juliet courtly. He asks her fathers permission before marrying her and brings her flowers e.t.c. At the beginning Juliet loves Paris dutifully. She excepts his wooing because her mother and father want her to. Both Romeo and Juliet display true love for each other. They want to be married because they love each other not because anybody else wants them to. Mercutio gives lots of references to sexual love especially between Romeo and Rosaline. Mercutio only makes these references to be humerous. It is quite ironic he should talk about Rosaline sexually because she has decided to stay chaste. Lots of Linguistic devices are used throughout the play. Shakespeare shows this by using lots of oxymoron throughout Romeo and Juliet. In act 1 scene 1, Romeo chides Benvolio because of the fray. He says: Romeo: Why then O brawling love O loving hate O anything of nothing first create. It is showing how naà ¯Ã‚ ¿Ã‚ ½ve he is, as this is his impression of love. Others Romeo uses are: Heavy lightness, serious vanity, feather of lead, bright smoke, cold fire, sick health, still-waking sleep. Juliet also uses some: Beautiful tyrant, fiend angelical, dove-feathered raven, wolfish-ravening lamb, damned saint and honourable villain. Similes are used often by all characters. Benvolio uses one saying they go like the lightening thats a simile because it contains LIKE in a comparing context. When Benvolio sys things like Steel Points and Fatal Points he is using these as a metaphor for swords. There is a lot of pathos in Romeo and Juliet. For Example, when Capulet tries to force Juliet into marrying Paris, you can feel Juliets frustration. Also you can feel Romeos distress when he finds that Juliet is dead. Shakespeare used sonnets in Romeo and Juliet. A sonnet is a 14 line poem, rhyming every other line for the first 12 then comes a rhyming couplet. Each line contains 10 syllables. Examples of sonnets are the prologue and the end of act one, Romeo and Juliets first meeting, and lady Capulets talk of Paris. There is more poetry throughout the play for example when Romeo and Juliet kiss, their lines finish Purged/Urged and Took/Book. At the end poetry is used too, like this Hand/Demand, Set/Juliet, Brings/Things, Head/Punished and Woe/Romeo. There are more devices used but these are the main ones. All of these devices, would keep the audience enthralled as it is showing how clever Shakespeare is. The Elizabethans probably figured, if he was good with words, he would probably have a good imagination.

Monday, December 2, 2019

Protectionism in International Trade

Introduction In the growing debate over globalisation and free trade, it is difficult to focus on real policies under discussion. There are varied issues that focus on environmental destruction, markets, and exploitation among others, but one must relate globalisation to free trade in order to understand global trade policies.Advertising We will write a custom essay sample on Protectionism in International Trade specifically for you for only $16.05 $11/page Learn More Globalisation reflects the adoption of free trade policies for international markets by liberalisation of policies (Bhagwati, 2004). On this regard, countries liberalise their trade policies with other countries through elimination of policies that could deter trade or act as trade barriers. Some elements of trade barriers include â€Å"tariffs (high taxes on imported goods, which make them expensive) and subsidies from governments to domestic firms† (Spruiell, 2006). Both policies i nhibit foreign firms from selling their products and services in local markets because of high prices (Friedman, 2000). The concept of trade policy is easy to grasp. That is, it reflects subsidies or tariffs, which governments adopt to protect foreign firms from selling in their countries. There are also other approaches to trade barriers, such as expensive trade license for foreigners, quotas, and a total ban on foreign goods among others. Protectionism refers to policy agendas, which aim to increase the number of tariffs and subsidies that governments use to prevent or minimise trades or exploitation that result from free trade in the international market. This essay focuses on protectionist measures, major arguments used by countries to justify protectionist measures, and challenges and opportunities protectionism presents to companies that wish to expand to foreign markets. Major arguments used by countries to justify protectionist measures Governments use several arguments to j ustify their protectionist policies. First, infant industries require government subsidies and strong protectionist laws to protect them from fierce competition from well-established firms in the global market (Bhagwati, 1988). Such budding firms may not be strong enough to endure challenges posed by competitors. Therefore, by protecting such domestic firms from external competition, the government allows them to thrive in the domestic market. Second, dumping also has facilitated the increment in protectionist laws. Dumping takes place when imported goods have significantly lower prices in foreign markets than the normal price in the country of origin.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Antidumping policies protect domestic market prices by ensuring that imports do not have ‘too low’ prices below the cost of production or have fair market prices. The US has used an tidumping policies to protect domestic markets from cheap imports from China. Free trade could facilitate dumping, particularly in non-industrialised countries. Third, in some instances, governments have introduced protectionist laws because of national security issues. Such governments aim to reduce reliance on other countries to supply critical resources and services, which may not be available in periods of dispute. Although it is difficult to identify all industries that are vital for national security of a country, some governments aim to protect their IT and energy firms from foreign ownership. Fourth, some countries have relative cheap labour. Consequently, they produce goods at low costs, which result in lower prices in the international market. Such countries may create unfair competition in the market. However, countries with cheap labour like China have attracted investments than those with high costs of labour. Consumers want cheap products. Thus, if a country has expens ive products because of labour cost, the domestic firms will lose market share to foreign firms. Fifth, some governments argue that protectionist laws enhance equality in income through protection of local jobs. These are the essence of high tariffs and subsidies for the domestic firms. From this argument, one can deduce that the US, which has an expensive steel industry, may not compete against the steel industry of Brazil, which is relative cheap. In such situations, the US steel industry may lay off workers in order to cut costs and remain competitive. Consequently, workers who depend on the industry will slip into poverty. From such competition, the steel industry in the US may collapse altogether after several years. Consequently, the US will rely on foreign suppliers of steel. If the US engages in diplomatic disputes or wars with Brazil or other countries with steel firms, it may not be able to get that vital resource for its domestic operation. Thus, the result could be devas tating to the US economy. Another different reason for protectionism bears no economic advantages to any country. In this argument, countries note that their protectionist laws should reciprocate laws of their peers. That is, trade barriers should be high to reflect practices by other countries. China has applied this theory against the US in which it uses subsidies and tariffs as bargaining chip when negotiating international contracts. The bargaining chip theory does not support or oppose trade, but it considers protectionist law as a two-way approach. For instance, the US may lower steel tariffs for Brazil only if the latter agrees to lower its tariffs on other exports from the US.Advertising We will write a custom essay sample on Protectionism in International Trade specifically for you for only $16.05 $11/page Learn More Countries that use the bargaining chip approach focus on enhancing trade opportunities, but strive to protect their domestic mark ets as much as possible. Hence, they maximise exports and reduce harmful imports (Spruiell, 2006). Challenges and opportunities protectionism presents to companies that wish to expand to international markets Although the arguments for protectionism are compelling, trade protection could hurt economies of countries, which impose them too. Some countries are fond of retaliation. For instance, some reports had indicated that there were many discriminatory trade policies than liberalising ones (Miller, 2009). Miller notes â€Å"governments are applying protectionist measures at the rate of 60 per quarter, and more than 90% of goods traded in the world have been affected by some kind of protectionist measures† (Miller, 2009). Trade policies could result into few goods and high prices, which hurt economies and consumers. This may not be suitable for any firm that intends to expand in countries, which tend to retaliate against trade policies. Foreign firms may not be able to compet e against inefficient protected domestic firms. Governments that impose tariffs in order to protect their emerging firms create unfair competition in free trade. However, consumers will face higher prices and poor quality of services and products. In other words, firms with quality products may not expand to countries with high tariffs and subsidies because of possible unfair competition or expensive trade licence. Protectionist policies lower efficiency. Some economists claim that free trade may lead to loss of jobs in the importing country. However, economists have argued that competition created by foreign firms could enhance efficiency of local industries, quality of goods, and lead to sales growth and employment. Arguments for protectionist laws are compelling, particularly in saving domestic jobs. A government may be right in protecting local jobs in a local steel industry, preventing the industry from bankruptcy and mismanagement by imposing relatively higher tariffs on impor ts (Griswold, 2001). On the other hand, a government may fail to account for individuals who work in other firms supported by steel products. Other foreign factories can buy steel at world prices and manufacture steel products lower costs. Consumers will buy such products from other foreign countries with lower prices.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This implies that American firms, which manufacture steel products, will experience declines in sales and may lay off a significant number of employees. They may also go out of business or seek for additional capital from investors. This was the case when President Bush enacted high tariffs on steel in the year 2002. On this note, one must ask whether it is important to save some jobs at the expense of others or government should leave economic forces and efficiency to control markets. This point illustrates that protectionist policies have costs to the imposing country. In most cases, one may fail to notice such costs associated with protectionist measures. This happens because one can observe any changes in a given industry, but fail to notice the overall impacts because such impacts are widely distributed, affect many industries and customers. Countries argue in favour of protectionist measures to protect domestic firms and avoid relying on foreign industries. Thus, if a country leaves its industries unprotected from global forces, they may collapse and cause reliance on foreign products. However, this situation may not be bad because free trade does not operate in that manner for both developed and emerging economies. For developed economies, competition from foreign firms should allow domestic firms to re-examine and re-engineer their processes and enact the needed reforms so that they can become stronger and compete effectively with foreign firms. Moreover, it is also unlikely that domestic firms can lose all capacity to manufacture products for the local market. It is also imperative to understand whether industries in emerging economies require protection. Many emerging economies believe that they require protection from well-established multinational firms. However, this is a folly argument. Since some countries gained their independence from former colonial masters, they considered any imports as â€Å"other forms of colonialism and dependence on fo rmer masters† (Spruiell, 2006). Consequently, many countries adopted import substitution policies. Under the import substitution policy, governments controlled how their countries utilised available resources in attempts to manufacture all products they previously imported. This strategy did not lead to any economic growth. Instead, a number of emerging economies fell into deep debt crises while struggling to manufacture all products. On the contrary, East Asia has shown that developing countries can â€Å"export all products they can easily and cheaply manufacture and import products they cannot produce locally without high economic costs† (Spruiell, 2006). Globalisation has improved because many countries have noted that it is sound to maximise the production and export of products and services they can produce cheaply and easily. On the other hand, such countries also maximise importation of products they cannot manufacture. This results into a rapid economic growth. In this manner, countries rely on their comparative advantages and strategies to create value in the global market. According to Spruiell, â€Å"the principle of comparative advantage means that every nation, no matter how undeveloped or poor, has a comparative advantage in producing some goods† (Spruiell, 2006). However, many countries may not adopt open market policies because protectionism is a ‘bargaining chip’. Hence, the argument for protectionism under this theory still holds because nations may only reduce their trade barriers and tariffs if they can get some values from other countries. Otherwise, they claim that domestic firms will have to compete in the global market against other firms, which have protection and government subsidies. Proponents of protectionist measures and bargaining chip strategy question why a domestic industry should face competition from other industries, which get subsidies from their governments. Government subsidies allow ind ustries to produce and sell products at lower costs than costs of production. Thus, proponents of protectionism justify their position as attempts to eliminate unfair competition. However, when one focuses on comparative advantages, they must recognise that the concept requires countries to open their domestic markets and focus on exports to boost their economies. Protectionist laws deny consumers to buy cheap products. Moreover, such laws only protect a few selected business interests to the detriment of the entire economy. Foreign firms may find it difficult to establish their operations in countries, which protect their domestic industries from competition. Generally, countries experience economic growth when they are free to trade with other countries without many trade barriers. Countries with open borders are likely to facilitate foreign investments and trade as investors will find few trade barriers while consumers will buy products at lower prices. Thus, even subsidies may o nly favour open market countries because producers are likely to export their products to such countries. In addition, countries with open markets are likely to import products at low costs (Schiff and Schiff, 2010). Consequently, they will focus on developing their productive industries and enhancing their economic strength. Therefore, protectionism presents challenges to foreign firms that seek to expand in international markets in terms of several trade barriers, unfair competition with protected domestic firms, and expensive trade licences among other challenges. Such firms should seek for investment opportunities in open market countries with liberalised trade policies. This would lead to economic success through high volumes of trade because open markets facilitate trade. It is also important to understand the major beneficiaries of protectionism. Generally, when governments introduce protectionist policies, they aim to protect some industries but not others. On this note, gov ernments would consider industries, which could have significant influences on domestic politics (Hazlitt, 1988). For instance, in the US, governments have selected their influential steel, agribusiness, textile, and lately IT industries for protection against any foreign competition or acquisition. However, other unprotected industries have faced fierce competition from foreign firms, as well as higher prices of products from the protected domestic industries. One may focus on the protected industries and note that they are highly important for the government. However, industries have deep relations when viewed from economic principles. One must acknowledge that arguments for protectionist laws have some merits. For instance, governments save jobs, avoid financial ruins through subsidies, and could be critical in seeking for trade partnership in the global market. However, for every benefit of protectionist laws, governments must make subjective decisions on industry protection and identify industries that will incur costs of domestic protection (Lindsey, 2001). Governments should not select industries for protection based on their political influences, and they should apply economic principles and treat all industries in the same way. Protectionism comes with economic costs, which are not easy to ignore. Thus, fundamental issues should not be about potential costs. Instead, the focus should be on industries, which will bear such costs. While governments can provide responses to such questions, people also have economic freedom to choose their products. Recent trends The most common trade barriers exist between the US and China. These two countries show how protectionist laws work in a global market. However, apart from the US and China trade wars, other countries have trade barriers too. Miller noted that the World Trade Organisation (WTO) released a report, which indicated that many countries were yet to refrain from protectionism (Miller, 2009). The WTO me mber countries had â€Å"130 protectionist measures to implement† (Miller, 2009). Some of these protectionist measures included â€Å"state aid funds, higher tariffs, immigration restrictions and export subsidies† (Miller, 2009). For instance, in 2009, Russia focused on a comprehensive increment of all tariffs, Japan concentrated on reviewing its sanitation laws to restrict food imports while South Africa embarked on reviewing its spending patterns to favour firms owned by the blacks at the expense of white-owned firms. From the above figure, â€Å"China has been the main target for most governments’ protectionist laws† (Miller, 2009). China faces trade barriers from 55 countries, which have enacted measures to restrict Chinese exports (Miller, 2009). The US and Japan have 49 and 46 protectionist measures respectively. On the other hand, the growing economy of Brazil has attracted Chinese imports. Consequently, Brazilian government has introduced some â €Å"non-tariff trade barriers and protectionist measures, particularly in the automotive and light manufacturing sectors† (Deloitte, 2012) to protect domestic industries. Impacts of protectionist measures First domestic firms, which depend on government protection and subsidies, may not be able to compete well in the export global market. Import barriers are responsible for high prices due to high costs for intermediate needs. Consequently, export products become highly priced than the global market prices. This may force such domestic industries to lose market share to foreign firms. Moreover, there are also possibilities of retaliation from other countries. Second, protectionism affects the entire economy of a country as any rise in the cost of product leads to a drop in the gross domestic product (GDP). Third, protectionist measures also affect the global economy negatively as world exports and incomes drop. Finally, protectionist laws slow down economic growth for all nat ions. In other words, the global market requires complete liberalisation to improve actual incomes for emerging economies. Therefore, for any foreign firm seeking to expand its operation in the international market, it should choose countries without several trade barriers, protected industries, and government interference. Conclusion The concept of protectionism emanated to control trade issues that resulted from international trade. However, not all market issues require protectionist laws like some economists had believed. Today, some economists have argued and demonstrated that protectionist laws are ineffective and inappropriate ways of fixing market failures. One major challenge is that protectionist laws protect few individuals and leave majorities to bear the ultimate costs. Not even the poor masses who work in such industries should bear the costs. However, in most cases, protectionist measures place huge responsibilities on individuals who least deserve them. That is, only few individuals benefit from protectionist laws. Overall, protectionist laws are major obstacles to economic growth as this essay has shown. Thus, an open economic strategy can facilitate economic growth and eliminate trade barriers. Reference List Bhagwati, J 1988, Protectionism, MIT Press, Cambridge. Bhagwati, J 2004, In Defense of Globalization, Oxford University Press, New York. Deloitte 2012, Competitive Brazil: Challenges and strategies for the manufacturing industry, Intergraf Ind. Grà ¡fica Ltda, Brazil. Friedman, T 2000, The Lexus and the Olive Tree: Understanding Globalization, Farrar, Straus and Giroux, New York. Griswold, D 2001, Walls of Steel, Carlton Press Corporation, New York, NY. Hazlitt, H 1988, Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics, Three Rivers Press, New York. Lindsey, B 2001, Against the Dead Hand: The Uncertain Struggle for Global Capitalism, Wiley, New York. Miller, J W 2009, Protectionist Measures Expected to R ise, Report Warns. Web. Schiff, P and Schiff, A 2010, How an Economy Grows and Why It Crashes, Wiley, New York. Spruiell, S 2006, Protectionism – Tariffs, Subsidies, and Trade Policy. Web. This essay on Protectionism in International Trade was written and submitted by user Maginty to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.