Leadership as a Human Quality - Free Essay Example

Sample details Pages: 6 Words: 1934 Downloads: 5 Date added: 2019/10/10 Did you like this example? Introduction Leadership can be defined as the process of achieving a set goal through the use of human direction in achieving this (Prentice, 1961). A successful leader is the one who considers both the managerial members together with the minor stakeholders in achieving the goals set by the institution. Employees mainly prefer a democratic leadership whereby they are allowed to express themselves to the managerial team and can be effectively listened to (Prentice, 1961).). Don’t waste time! Our writers will create an original "Leadership as a Human Quality" essay for you Create order Leadership is well explained by theories which includes leader-member exchange theory of leadership, transactional leadership, transformational leadership, charismatic leadership including many others. Each of this theories applies its own managerial principles which are totally different from others. Leadership plays an important role in the pursuit of achieving the set goals that are set by the organization. Both the managerial team and the junior workers plays an important role in the process of leading the organization to achieving the set goals. It is described as one of the most multifaceted and complex phenomena which has been applied by the psychological as well as organizational research (Burns, 1978). Leadership can be examined in terms of set of styles of leadership that are being employed in the leadership process, presumed cognitive processes as well as the terms of enduring traits. In present world, employees have become much educated and more skilled than before. There is need for involving them in decision making process since they have the required knowledge, both managerial and also technical and thus their involvement in decision making is much important and can much influence achieving of the set goals. The process of involving employees in the sharing of duties and also making decisions concerning the organization can be used as a motivation process in today’s world. This makes the employees feel being part of the management team and thus they commit all their skills to the organization which makes it to achieve its set objects. Leader-member exchange theory of leadership This is the most appropriate leadership theory in our present world as both the leaders and the workers are involved in the decision making concerning the organization. The relationship between the managers and the employees is a key factor that influences the success of the organization (Bass, 1990). The managers are referred to as the leaders while the employees are the followers. As we know, employees have different levels of capabilities as well as commitment to the duties that are being assigned to them. Leaders always will tend to have a good and close relationship with employees who seems to be committed to their duties and to those that are delivering exactly what is expected of them without having to be forced or closely supervised as they undertake their duties (Higgs, 2003). Depending on the commitment of the employees to the organization, leaders can classify their followers into two categories that includes the in-group followers and the out-group followers (Graen Cashman, 1975). The in-group members are mainly those employees that are loyal, trustworthy, committed to their duties and those that are well skilled with high capability of handling the duties that are assigned to them (Fiedler, 1964). Leaders will always tend to be close to such employees. The manager trust much the members of this group (King, 1990). Managers always have high attention to this group of employees, they even offer opportunities for additional training, they always providing challenging but interesting duties to them, and the managers always create a lot of time with this group (Fiedler, 1964). Modern means of management are computerized to reduce manpower cost and also to increase efficient. Managers will like to have employees who are personal driven and those who need li ttle attention in order to carry out their duties. Managers will tend to avoid employees who are incompetent, low capacity to carry out their duties, those who are lazy, those who are very sensitive to work closing hours and those who cannot sacrifice their resources for the sake of the organization. The out-group members are mainly made up of the followers who betrays the trust of the manager to them or those that have already proved that they are lacking motivation or they are incompetent (Bass, 1990). The group work assigned to these employees is less challenging and high restricted as compared to that which is assigned to the in-group members (Lewin et al., 1939). They tend to have limited access to the managers and also the chances for advancement are also limited. This group also needs keen monitoring as they undertake their duties since they are not motivated enough to be self-driven. The presence management system does not favor this group of employees as they need keen monitoring as they undertake their duties. The outgroup members may start to dislike and distrust their employees as they may not be in peace with them due to their unpleasing behaviors of handling duties. The members of this group may be forced to change department or even organization because once the leaders know that you are incompetent in the way that you handle your duties, it may be hard for one to prove it wrong to the employer. Leaders need to classify the employees in this two groups before they start working with them so as to make the management activities easier. Role making process is process that is functionally dependent on both the employees and employers. Leaders and followers have to agree on how the leadership process would be done so as to make sure that a good and conducive management process exist between the employer and the employee (King, 1990). Any role making process can be used in the process of describing the development of both relationship norms as well as interlocked behavior between each of their members (Graen Cashman, 1975). The early stage interactions between the leaders and followers can determine the likely nature of the emergent leadership structure. Majority of the employees will be members of outgroup and the only selected members will belong to in-group. Some subordinate managers may even belong to the outgroup members according to the level in which they commit themselves to the managerial duties of the organization. Generally, outgroup members receive lower performance ratings and face many problems with their supervisors as compared to the members of the in-group (Graen Cashman, 1975). In-group members majorly have strong ties with their employers as compared to those that exist between the employers and outgroup. Ideas given by the members of in-group to the leaders are more valued than those given to the employers by the members of out-group as they are seen to be incompetent and of low knowledge and capability. Leaders will prefer in-group employees to out-group employees so as to reduce the increased managerial task that the outgroup members may demand from the managers. This theory explains well how the present world can be well placed with this leadership theory. Research supporting leader-member exchange theory In the process of describing this theory, two important assumptions are made. The first assumption is that some interlocked behaviors has to be shaped and this started early back in the history of this theory (Higgs, 2003). The second assumption was that some relationship between leader and follower has to be developed carefully over an extended period of time (Higgs, 2003). The two participants have to gain mutual trust between one another. The study that was carried out in the approval of this theory involved sixty managers who were undergoing complete reorganization (King, 1990). Almost 90 percent of the reporting relationships had at least one new member as almost 50 percent of the managers were in new positions and one third of the managers were in new organization (Lewin et al., 1939). The theory of leader-member exchange was studied for a period of more than one month. The results that were obtained from this formed a consistency network of reliable relationships (King, 1990). Routine is done by leaders by developing an in-group exchange with only selected few members and also out-group with the rest of the group members. The in-group members receive more unit involvement activities and also greater positional resources from the employers as compared to the one received by the out group members (Burns, 1978). It was then observed that leaders of managerial units responded with manners which in one way or another served to differentiate their unit during times when faced with the task of new working relationships with the majority of the members that they lead (Burns, 1978). Leaders attempted to form special interaction groups with some of the subordinate managers and this transcended the formal employment contract. How race, gender and power can influence the effectiveness of leader-member theory Race plays a major impact on the effectiveness of the leadership. In many cases especially a white man, white people are considered more special than the black people and thus this is a form of discrimination. Race leads to the creation of respect between the leaders and followers and this plays an important role in how the relationship between the leader and the followers is created (Higgs, 2003). The fact that people of different races may not know each other well will mean that respect between the two individuals will exist. This then leads to the achievement of the set goals since both the leader and the follower will play his or her role effectively with due respect. However, in cases where there is racial discrimination between the leader and employees, a good relationship is likely not to develop and thus the effectiveness of leader-member exchange theory may be reduced (Fiedler, 1964). Leader-member exchange theory relies much on the relationship of the leader and follower an d thus for the effectiveness of this theory, a good relationship between the leader and follower is very important. Leadership power is very important in the process of making this theory to be effective. In this theory, the leaders need to effectively use their powers well since the theory encourages a good relationship between the leader and follower, some of the followers, especially members of in-group may decide to use that close relationship with the leader for their personal gains (French Raven, 1959). This will make leadership effective and thus there is need for the leaders of keep their level of interaction with the employees with a gap so as to make sure that effective leadership is maintained. Too much good relationship between the leaders and the followers may lead to lack of respect between the two stakeholders and this may lower the effectiveness of this theory (Bass, 1985). Gender plays also an important role in making this theory effective. Men are good in employing this leadership theory. Gender plays an important part of leadership. There should be no sexual discrimination in the place of work as this will make the theory less effective. This theory, when properly employed can lead to the organization achieving all of its set goals in an easier way.   The relationship between the leader and the follower is much important and needs to be well maintained. Conclusion Leadership plays an important role in the pursuit of the organization to achieve its set objectives. A good relationship between the managers and the junior staff is very important as this will make the employees to be committed to their duties so as to achieve the success of the company. The process of involving employees in the decision making makes them feel to be valued and part of the organization which then makes them to commit themselves to the organization activities thus achieving the goals of the company. Leader-member exchange theory is a reliable leadership theory that can lead the company to achieving great in its management and also set goals.

Essay on Nursing Homosexuality and United States

And the Band Played On University of Central Florida Question #1 Based on what you observed in the film or read in the book; clearly articulate and delineate at least three of the sociopolitical factors that influenced public health policy development for HIV/AIDs prevention and control in the United States. Then discuss separately each of the three sociopolitical factors each factor and discussion is equal to three points each. The three sociopolitical factors that influenced public health policy development for HIV/Aids prevention and control in the United States were identifying early possible ways of spreading the disease, how it affected our blood supply and that to acknowledge the social implications that it could be†¦show more content†¦There was also a woman who was an IV drug user who had contracted AIDS. This helped to dispel the myth that it was only a gay disease, but was transported through the blood; therefore our blood supply was at risk. The CDC in Atlanta met in 1983 and motioned to change the name from GRID to AIDS w hich was Acquired Immune Deficiency Syndrome. However, because of expense the blood banks refused to change testing procedures. Eventually, the blood banks finally agree to test but many people were affected with AIDS virus before that finally took place. (Spelling, Vincent Spottiswoode, 1993). One of the big factors early on is that no one wanted to be associated with AIDS due to the fact that it was considered a homosexual man’s disease. There was a lot of fear, denial and anger surrounding this disease. In 1981at the CDC Dr. Guinan asks that a report about an epidemic with gay men had broken out and he wanted it published in the medical journal. The fear of the word â€Å"homosexual† was marked off and not used for that article. It took a long time for the realization that this disease could affect everyone from homosexual males, IV drug users, blood transfusion patients, women and even babies. Even though it was initially considered the disease came from gay men and their sexual practices it crossed all borders as time went on. Still today there is some prejudice regarding AIDS. (Spelling, Vincent Show MoreRelatedHomosexuality1131 Words   |  5 Pagesï » ¿Kiuana Ingram Ms. Lemons English IV Period 6 18 November 2013 Homosexuality Homosexuality is the sexual orientation toward people of the same sex. Female homosexuals are referred to as Lesbians. Years ago, the term gay has been applied to both homosexual women and men. The potential for homosexual behavior appears to be a basic part of human sexuality, since many people experience homosexual interest, curiosity, or activity at some point in their lives. Homosexual behavior has also beenRead MoreOn-Going Fear of AIDS Essay1550 Words   |  7 Pages16). The fear, stigmatization, and discrimination of people with AIDS and the disease in general have many underlying factors. 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Lesbians and bisexual women remain at increased risk of sexual victimization compared to heterosexual women. In order for a woman to determine the direction of her life, she must first determine her sexuality. Sexuality is a deep, integral part of any human’s life. This should not be a subject of coercion or debate. The society must recognize that a

Essay about Footloose Comparison - 1029 Words

Dr. Faucette English 111 October 14, 2013 Footloose â€Å"While the 1984 original is hardly a perfect film, New Footloose has some hefty shoes to fill,† as stated by Benjamin Wood. The original movie and new make of the movie Footloose are perfect examples of change in pop culture. In my essay, I have decided to compare and contrast the values and characteristics of these two movies. From the first to the second there are the same basic ideas, but so many differences in the characters and events. Christ Lemire describes the old Footloose as a â€Å"flood of fond memories† for anyone who grew up in the 1980s. This movie was a true symbol of the growth of pop culture during this time. The main character, played by Kevin Bacon, was a bad boy†¦show more content†¦Unlike the first, the boy actually lost his mother from a battle with cancer. This shows how different our world is today. It also shows his motivation behind his urge to dance and his movement against the council in the town. The second movie has the same script and outline as the first. The difference is the way the characters walk, talk, and act. They wear clothes that are more dated to our pop culture now. Also this movie is different in the fact that nowadays it would be very rare and very uncommon for a city to ban dancing. Have you seen Miley Cyrus lately? I mean she isn’t the first to do something crazy. In my opinion, this second movie is viewed and focused more along the lines of the love story between the boy and the rebellious girl. The film and the tunes were intertwined to create a pop-culture phenomenon unlike any were likely to see anymore, outside of perhaps Glee, simply because we consume entertainment so differently 27 years later (Lemire). I personally love the second one, but it wasn’t a big deal to everyone like the first was. I never even knew about it until it came on the television one day while I was bored watching TV. Our culture today is more worried and focused on other things. No o ne cares about old timey tales of little things that government or church kept us from doing. Everyone pretty much does what they want to. It’s odd that we live in a world that needs two Footlooses (Wood). The first movie managed to dance its way into theShow MoreRelatedExport Promotion Strategy vs. Import Substitution Strategy1745 Words   |  7 Pagesterms of economic development. However, are there any other aspects that EP is better than IS? In this essay, the detailed comparisons between these two strategies will be discussed in three main parts: (1) industrial sector; (2) agriculture and service sector; and (3) international trade policy. Also, the merits of IS and the limits of EP will be mentioned. 2. Comparisons between EP and IS 2.1 Definition of IS and EP: The IS strategy prescribed by structuralists such as Presbish (1950) andRead More Music And Stress Essay1296 Words   |  6 PagesÅ’sing-a- long interface worked best. 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Economic Indicators Paper - 1521 Words

Economic Indicators Paper What does it mean when someone refers to the health of an economy? Furthermore, how can one classify an economy? Americans love to quantify data. Because of this inherent need to compare data, economists have developed a way to collect nearly every type of statistics that may reveal the general health of the economy. These statistics actually tell if the economy is productive and efficient or if it is slow and inefficient. Included in these statistics are Gross Domestic Product (GDP), Consumer Price Index (CPI), Unemployment Rate, Retail Sales, Producer Price Index (PPI), and Personal Income. Included in this paper, Team A defines the preceding six indicators, and describes their status. Additionally, a†¦show more content†¦There have been many indicators that have been developed to measure inflation. The CPI measures inflation as experienced by consumers through their everyday expenses. The Producer Price Index (PPI) measures inflation during the early stages of busine ss development, such as production and sales. The best measure of inflation for a given application depends upon how one intends to use this data. CPI allows businesses to adjust prices based upon a comparison of the current cost of a defined set of goods and/or services to the cost of those same goods at a time in the past. It is also, the best measure to use to translate retail sales and hourly earnings into real or inflation-free dollars (2005). The CPI is the most widely used measure of inflation and is sometimes viewed as an indicator of the effectiveness of government economic policy. It provides information about price changes in the Nations economy to government, business, labor, and private citizens and is used by them as a guide to making economic decisions. 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Foreign Direct Investment Free Essays

Foreign direct investment (FDI) is probably the single most important factor contributing to the globalization of the international economy. FDI are increasingly strong economic links between developing and industrialized countries, and also among developing countries. Foreign direct investment in developing countries (LDCs) have increased nearly four-fold in the 1990s and now account for almost 40 per cent, reaching some $120 billion in 1997. We will write a custom essay sample on Foreign Direct Investment or any similar topic only for you Order Now Foreign direct investment is now by far the largest source of all capital flows to the less developed world. The objective of the FDI is to encourage the flow of investments for productive purposes among member†s countries, and in particular to developing countries. To serve this objective, the WTO must provide some type of guarantees (or insurance) covering foreign direct investment for all parties† host countries, home countries and Multinational corporations† against all the obstacles like Different needs, political risks, abuse of labor, Transfer Restriction, Breach of Contract, corruption, and Tax breaks. WTO must carry out advisory and technical assistance for these parties so that their interests are protected, and must emphasis on multilateral investment agreement (MIA. ) No unilateral action or bilateral The host countries or the developing countries are interested in: (I) development of their services, communities and infrastructure that may help their industrialization and development, (III) production of exportable goods and (III) continuous technological development in their industrial production and services Once MNC has been attracted to a particular destination country, they expect a high level of facilitation services. Governments all too often give inadequate attention to servicing investors† needs, even though large sums of money may have been spent on promotion activities and success has been achieved against fierce international competition. In retune, Investors from industrialized countries want to come to developing countries for two main reasons. First, they apprehend that the return on capital in their home country is not adequate; second, they want to combine their capital with the cheap labor of the host country to reduce the cost of production. So the WTO should regulate the minimum wage for the worker in the host county. If the FDI is only for capturing the domestic market, it may still generate profit for the investor, but such profit may leave the country in foreign exchange. Where there are two serious implications. First, in profitable domestic consumption sectors, foreign investments may overwhelm domestic investors (which may generally not be as strong as the foreign counterparts) and in some cases may eliminate them. Second, some critical sectors, like land, minerals and forests, where countries often like to have effective control on ownership because of social, political and strategic reasons, may, in a big way, pass under the control of foreign nationals. Investors have freedom without any responsibility, except in respect of their own profits. The implementation of the obligations of home countries are ought to be ensured by locating the MIA in the WTO, so that for any perceived infringement, action can be taken against exports of the country. Tax breaks for multinational corporations Multinational corporations, whether American- or foreign-owned, are supposed to pay taxes on the profits they earn in their home country. For example, American companies and individuals aren’t supposed to gain tax advantages from moving their operations or investments to low-tax offshore â€Å"tax havens. † But the tax laws often fail miserably to achieve this goal. Moreover, IRS data show that foreign-owned corporations doing business in the United States typically pay far less in U. S. income taxes than do solely American firms with similar sales and assets. The same loopholes that foreign companies use are also utilized by U. S. -owned multinationals, and even provide motivation for American companies to move plants and jobs overseas. As a result, the WTO must fix these problems in the current system. The WTO must oblige all multinational corporations to provide income report in the overseas operation. Also, the Home County has the right to inspect every movement of goods and services between a multinational company’s domestic and foreign operations, and then attempt to assure that a fair, â€Å"transfer price† was assigned to each real or notional transaction. Host countries insist that foreign firms must meet high domestic-content requirements, take on local partners, or engage in technology-sharing agreements, by contrast, suffer lags in technology acquisition, absence of best management techniques, weak penetration of foreign markets, and flimsy development of a supplier base. Yet developing countries and economies in transition can†t find ways to protect and reward foreign investors who promise to meet domestic content, joint venture, or technology-sharing requirements. Political actions, changes in governments, events or instability may result in unfavorable changes in the value of a foreign security. A new treaty, the repeal or modification of an existing treaty or a change in formal diplomatic relations between the home and the host countries could affect the value or liquidity of investments in that country. Corruption in the developing countries The definition of corruption is misuse of power for private benefit or advantage. Corruption is to all appearances widespread in developing countries and has very serious repercussions on their peoples’ quality of life – above all that of the poor and disadvantaged. This power may, but need not, reside in the public domain. Besides money , the benefit can take the form of protection, special treatment, commendation, or promotion; generally speaking corruption encompasses four main distinguishing features: Undesirable effects on third parties (home county). Also the effects of corruption in developing countries ends up as obvious ignore of community interest. The WTO should monitor the MNC operations in the developing countries so that the real objective is achieved, and to protect the other parties. Breach of Contract † home, host countries and multinational corporations† Different needs of investors and host countries Investors from industrialized countries want to come to developing countries main reason profit. The host developing countries, on the other hand, are interested in development of their services and technological development in their industrial production and services. These two objectives are not incompatible. And the interest of foreign investors and host governments may be harmonized. But it is critical that any FDI agreement meet both objectives. This can be achieved if the investors decide on the capability of specific projects, and the host governments decide on the priority sectors and conditions of FDI, consistent with their economic and development objectives. Wherever the two agree, FDI will flow. But for FDI to have a beneficial effect, it is important to realize that the roles of both sides are significant. An MIA is really not necessary for this purpose. What is needed is that governments have clarity of objectives, and these are spelt out clearly. Sets of transparent and stable criteria adopted and announced by governments can help the foreign investors to assess the viability of investments under those conditions. Naturally, governments wishing to encourage foreign investments will lay down criteria, which will welcome the investors in priority sectors rather than scare them away. If there is sufficient scope for the convergence of the interests of investors and those of the host governments and if it can be brought about by the domestic policies and measures of host governments, why is it then that some industrialized countries are pressing for a multilateral discipline? The main reason is to eliminate or, at least, constrict the powers of host governments regarding the choice of the priority sectors for FDI and obligation of conditions on such investments, so that foreign investors are able to operate unencumbered by such constraints. The main objective of the investors naturally is to earn high profit in a short time and repatriate the profit. And the objective behind bringing the proposed discipline on investments into the folds of the WTO Agreement is to utilize its dispute settlement process to enforce the discipline. The WTO, through its provision of cross-sector retaliation, will enable them to take restrictive measures against the developing countries, which may be perceived as violating the discipline. Foreign investment is often welcome to countries, as it increase the country’s capital and investment stocks. But the main implication of FDI is that the returns on such investments – in the form of dividends and profits, as well as many fees including license fees, management expenses and so on – are sent out of the country in foreign exchange. Hence, if the investments do not help the country, either directly or indirectly, to earn foreign exchange, the negative effects of the outflow may be serious. A change in the exchange rate between the two countries currency may reduce the value of an investment in a security valued in the foreign currency, or based on that currency value. How to cite Foreign Direct Investment, Essay examples Foreign Direct Investment Free Essays Introduction Foreign direct investment (FDI) occurs when a foreign investor exerts direct control over domestic assets. It normally consists of an international capital flow from the home country to a host country for the purpose of acquiring partial or full ownership of tangible business activity. Technically, it is the book value of the equity held by the foreign investor that is attached to the asset. We will write a custom essay sample on Foreign Direct Investment or any similar topic only for you Order Now In most cases, the asset is a firm in a developed country, such as the United States, and the equity consists of two components: ordinary (common stock) and retained earnings. If both foreign and domestic investors own the common stock, then only a portion held by foreign investors is considered to be FDI, and if only a threshold percentage is attained, that is deemed to give the foreign investor control of the business. In the United States, this threshold is 10%, but some countries establish a higher minimum level of stock ownership, usually 25% (Aliber 2003, pp. 91). Foreign investment can take place in two ways: Foreign investors can establish new firms overseas, which they control, or foreign investors can acquire controlling interests in the previously established domestic firms, or spin-offs of such firms. FDI as a vehicle of transnationalization is a major contributor of economic development. Transnational corporations (TNCs) act as significant transmitters of economic, social, cultural, and political change into different countries, sectors, and motivations. TNCs take advantage of geographical differences in the distribution of factors of production (natural resources, capital, labor, etc.) and local policies (taxes, trade incentives, subsidies, etc.). Other than FDI, TNCs engage in various kinds of collaborative ventures by which they coordinate and control transactions within geographically dispersed production networks (Borensztein et al. 2008, pp. 115). Resulting from these ventures, the global economy is envisaged as linking together t wo sets of networks: (1) Organizational (in the form of production circuits and networks) and (2) Geographical (which include localized clusters of economic activity). Political Perspectives Since FDI requires the flow of capital across national borders, it has always been intertwined with politics. Viewed in this way, three different political perspectives to FDI can be identified: radical view, free market view, and pragmatic nationalism. The radical view, which can be traced back to Marxism, treats FDI as a vehicle for exploitation of domestic resources, industries and people. Those governments who hold a radical view are hostile to FDI and therefore are in favor of nationalizing foreign firm assets or putting into place mechanisms to discourage inbound foreign firms’ operations (Braconier et al. 2005, pp 313). The free market view, on the other hand, is more in favor of FDI and promotes its rationale not least because it enables countries to tap into their absolute or comparative advantages by specializing in the production of certain goods and services. According to the free market view, FDI can be regarded as a win-win situation for both home and host countr ies. While prior to and during the 1980s the radical-based view FDI was more common in Africa, Asia, Eastern Europe, and Latin America, the free market-based FDI is now more influential across the world and in particular in emerging economies such as Brazil, India, and China (Braunerhjelm 2005, pp. 119). Finally, the third view, which reflects the current dominant perspective toward FDI and is practiced by most countries around the world, is called pragmatic nationalism. Based on a pragmatic nationalism political view, FDI is only approved when its benefits outweigh its costs. For example, this view holds that FDI in the Chinese auto industry should only take the form of a joint venture (JV). By adopting such restrictive policies, the Chinese government helps the domestic auto industry learn from their foreign counterparts (Buckley and Hashai 2004, pp. 61). Theories of Foreign Direct Investment There are several theories that attempt to account for foreign aid. The prevailing ones include Dunning’s eclectic approach and the product cycle. John Dunning’s eclectic paradigm emphasizes the critical role of geographical location in understanding the complex nature of TNC behavior. The location aspect, as encapsulated in this theory, suggests three primary motivations: (1) foreign-market-seeking FDI, (2) Efficiency (cost reduction)-seeking FDI, and (3) resource-seeking or strategic-asset-seeking FDI. In general, a firm’s motivations to be transnational can be classified into two categories: (1) Market orientation, which pertains to marketing, sales, or production designed to serve a specific geographical market, and (2) Asset orientation, when most of the assets required by a firm to produce and sell specific goods and services have an uneven geographic distribution, especially in the natural resources industry. For a TNC to invest successfully abroad, it must possess advantages that no other firm has, the country it wishes to invest in should offer location advantages, and it must be capable of internalizing operations. Internalization tends to become synonymous with the ability of firms to exercise control over operations essential for the exploitation of ownership and location advantages (Yeung 2007, pp. 1). Raymond Vernon introduced the â€Å"locational† aspect to the product life cycle concept, which in the original form had no spatial connotation. First advanced in the mid 1960s, it emanated from the premise that the United States possessed comparative advantage in product innovation. To maximize production flexibility and minimize uncertainties in the early stages of a product’s life cycle, firms develop innovations for and introduce them to large high-income domestic markets but eventually set up foreign production facilities in other advanced economies to defend their monopolistic advantages resulting from an innovational lead. This also happens because, as products become more standardized, they get more price sensitive and firms turn to low-cost less developed countries (LDCs) to maximize profits. Vernon describes the phases as revolving around product development, product growth, product maturation, and product standardization. Impacts of FDI on Host Country Economies However, not all FDI is always in the best interest of the host country. Some nations have been increasingly viewing TNCs as a threat to economic autonomy. At times, they tend to be responsible for exerting negative influences on the host economy, for example, crowding out domestic firms and suppressing domestic enterprises. Profit maximization is inherently linked with maximization of efficiency and not necessarily with national, economic, and social goals. From the perspective of TNCs, various decisions have to be taken that can affect their effective working in the country—mainly since they operate in different economic, political, social, and cultural environments (Trevino and Upadhyaya 2003, pp. 45). A lot is said as to why firms choose to transnationalize rather than simply export their products. Two of the reasons commonly cited are that (1) Competition is extremely global and volatile and (2) It creates an environment wherein advantages are rapidly created and eroded. Firms increasingly compete not with rivals on a national level but across the globe. Higher sales and profits result from foreign subsidiaries because domestic markets, where the company started, tend to get saturated over time and it is fruitful to conquer foreign markets with more potential consumers than in the home country. The information technology revolution, which began in the United States in the 1980s, was an important source of structural change in the international economic and business environment affecting FDI. There was a sudden upsurge in asset-seeking direct investment in the United States. Foreign companies, chiefly European, were responsible for a gamut of mergers and acquisitions with U.S. companies—primarily with those possessing advanced technology or marketing prowess. The size and growth of the U.S. and Chinese markets have made these countries primary destinations for foreign companies using FDI as a stimulus for profits (Graham Marchick 2006, pp. 277 ). Importance of FDI FDI has been known to provide a longer-term contribution to GDP and income growth, as against bank loans and portfolio investments. The long-term perspective of FDI makes it relatively less volatile. FDI is considered to be an important carrier facilitating the spread of technology and is said to contribute to growth in a much wider way than domestic investment. The contribution of FDI is enhanced due to the interactions with human capital in the host country (Dunning Gugler 2008, pp. 113). Furthermore, FDI is said to expand the level of know-how in the host country through training and skill acquisition. Summarily, the four basic reasons why companies establish subsidiaries in foreign countries are (1) Gaining access to natural resources, (2) Protecting or expanding sales in lucrative markets, (3) Seeking low-cost production, and (4) Acquiring strategic assets. The United Nations, the European Union, and Japan have been the main sources and recipients of FDI for the past several decades. From 1998 to 2000, these three units together accounted for 75% of global FDI inflows. In totality, a country’s climate for FDI is built by factors such as relatively accommodative government policies—covering trade barriers and regulation of capital inflows; quality of governance; political stability; presence of laws and regulations; macroeconomic, fiscal, monetary, and industrial policies; and quality of infrastructure. Foreign Direct Investment in Emerging Economies The United States continues to be the largest FDI host country, with about US$2791.3 billion in 2007. The outward investment position increased to US$336.6 billion. Among the outward investments, about US$16.1 billion (3.1%) went to Ireland and US$4.2 billion (3%) to Singapore. Chart 1.1 China’s total foreign investments inflows According to U.S.-China Business Council, among emerging economies, China’s role as an investor country has been highlighted in the past few years. By 2004, China was the eighth most favored FDI source among developing countries. The liberalization of Chinese FDI policy in 1992 led to increased Chinese outward direct investment (ODI). The growth in Chinese ODI policy developments was driven by cautious internalization, government encouragement, expansion and regulation, implementation of a â€Å"go global† policy, and heightened domestic competitive pressures, which led to the opening up of protected industries and markets to foreign and domestic competitors (2008, pp. 81). A comparative advantage as a manufacturing hub and a firm-specific advantage such as state-ownership of a large part of an industry further stimulate this growth. Chinese ODI has been positively associated with Chinese exports to the host country (the former promoting the latter), a moderate demand of inflation, and rising levels of political risk in the host country. A distinctive feature that remains with China as against other emerging economies is that many of its multinational enterprises remain in state hands, although corporatized to focus on commercial objectives. Table 1.2 Top 10 FDI inflows. China’s overall FDI inflows stood at US$82.7 billion, an increase from US$69.47 billion. The top 10 FDI inflows were mainly from Hong Kong, the British islands, South Korea, Japan, Singapore, and the United States, amounting to about US$3 billion in 2006 and about US$2.62 billion in 2007. According to the Ministry of Commerce (MOFCOM) of the People’s Republic of China, the outbound nonfinancial FDI for the first half of 2007 reached US$7.8 billion, while for the full year in 2006; it was US$21.2 billion. Of this, 86% was provided by central government sources. Most of China’s ODI flowed to 172 destinations, which included Latin America and Asia. In India, the overall record of macroeconomic stability, a sizable domestic market, and a relatively high degree of political stability has attracted large volumes of FDI. The foreign investment in India during 2007–2008 was driven by FDI and portfolio investment inflows. FDI inflows in India increased from US$9.17 billion in 2005–2006 to US$22.95 billion in 2006–2007 and US$34.92 billion in 2007–2008. India emerged as the second most favored FDI destination after China in 2005 and 2006. During these years, investments through Mauritius remained the largest component, followed by Singapore, the United Kingdom, and the Netherlands. Inflows from the United States stood at the sixth position at US$3.46 billion in 2005–2006, US$7.06 billion in 2006–2007, and US$4.86 billion in 2007–2008. Sectorwise, these inflows were mainly directed to financial services, construction, and manufacturing. On the other hand, ODIs from India increased from US$13.5 billion during 2006–2007 to US$17.9 billion during 2007–2008 and flowed mainly into the manufacturing sector (Dicken 2007, pp. 191). Within the European Union, Ireland is fast emerging as the most FDI-intensive economy in Europe and a global competitor to RD investment. Since the 1990s, Ireland’s economic development policies, which have encouraged Greenfield investments by foreign companies in manufacturing and service sectors so as to produce output for export markets, and the establishment of upstream linkages between foreign and indigenous companies and the creation of industrial clusters with them have stimulated an export-led growth of the manufacturing sector. In Singapore, another emerging FDI destination, the total ODI was recorded at US$406.7 billion in 2005 and US$484.1 billion in 2006. Financial services and manufacturing have been major draws for Singapore companies venturing abroad. In 2005 and 2006, Singapore invested about US$9.8 billion and US$8.5 billion in the U.S. market. The FDI inflow in Singapore was at US$323.8 billion and US$363.9 billion, the FDI inflow from the United States alone constituting about 10% of this inflow. The current scale, proliferation, and importance of collaborative ventures between firms across boundaries have brought out the significance of transnational strategic alliances between firms (especially competing firms). Strategic alliances are formal agreements between firms to pursue specific strategic objectives in order to enable them to achieve specific goals. It involves sharing of risks and rewards. For RD ventures, for example, cooperation is limited to research into new products and technologies, while manufacturing and marketing remain the responsibility of individual firms (Cohen 2007, pp. 171). Globalization, technological advances, and the emergence of new players have propelled a change in FDI movement. Globalization, by removing most of the natural and artificial barriers to cross-border information flows and transactions, has widened locational choice options for firms. By lowering transport, communication, and distribution costs, technological advances have helped overcome many obstacles to overcome space. Examples of Foreign Direct Investment Venture capital, seed capital, and other types of direct investment play an important role in the development of nanotechnology by providing the funding for entrepreneurs to develop commercial products based on the nanotechnology, and establish themselves as for-profit businesses. As of June 2009 the Website www.nanotech-now.com listed over 100 funding sources for nanotechnology businesses. An example of a seed capital firm is MMEI (Molecular Manufacturing Enterprises Incorporated), a privately held corporation that provides funding at the early stages of product development in molecular nanotechnology: for example, in developing a laboratory-bench model into a working prototype that could be used to attract venture capital. A different type of service is provided by Silicon Valley Nano Ventures: they help make connections between investors and businesses and charge fees for successful transactions that may include a percentage of the transaction and/or stock or options in the compan y. Foreign direct investment (FDI) is increasingly important in the global economy, but the term denotes more than simply a direct investment made by a foreign investor. Specifically, FDI refers to a case of a company in one country establishing an enterprise in another country—such as Coca-Cola opening a plant in Mexico, Volkswagen opening a factory in Detroit, Intel opening a chip fabrication plant in Taiwan, and so on. Foreign direct investment is a vital part of the economic relationships between countries, and in particular can be a key to attract for developing or industrializing countries. Though the largest amounts of capital are involved in direct foreign investment among the industrialized countries (or â€Å"Global North†), direct foreign investment from industrialized countries to developing countries (or â€Å"Global South†) is a matter of constant discussion among international bodies like the World Trade Organization, and is seen as (at least potentia lly) a beneficial arrangement for both sides (Aliber 2003, pp. 94). Typically, the subsidiary established by a foreign direct investor is a factory or other manifestation of the foreign company’s global presence, but it can include real estate holdings (and often does, in the case of businesses in the hotel and hospitality industry) and businesses unrelated to the foreign company’s ordinary business. Foreign ownership may not always be apparent to the public. In the United States, the public is generally not aware that national supermarket chains and major breweries are owned by foreign-based multinational corporations. Because foreign direct investment involves money coming into a nation’s economy from outside, there are often incentives offered by the local government to encourage it, particularly when the FDI does not pose a competitive threat to domestic industry. There may be tax incentives, special regulatory exceptions, or subsidies provided for job training in order to create domestic jobs and disincentives the importation of foreign employees or infrastructure subsidies (Cohen 2007, pp. 176). Singapore provides a good example of a government successfully attracting FDI to develop commercial nanotechnology. Singapore is a small and densely populated Asian nation with a strong central government and a high standard of living, but has not historically been known as a center of scientific innovation. In order to overcome this handicap and create a biotechnology industry able to compete with the United States and Europe, the Singapore government has been involved in establishing biomedical science centers since the 1980s, including the Institute of Bioengineering and Nanotechnology, whose current research projects include developing nanocomposite materials for solar cell applications and nanofoams to be used in human bone replacement and repair. Singapore has been successful in attracting foreign investment in these centers, in part through the provision of financial incentives, a strong infrastructure, regulatory policies that favor business and the availability of a well-edu cated workforce. Among the companies who have invested in the biomedical industry in Singapore are GlaxoSmith-Kline, Schering-Plough, Merck, Genencor, AstraZeneca, and Bristol Myers Squibb. Conclusion Foreign direct investments is a long-term capital flow or investment in which a non-resident entity has significant management control of voting stock (10% or more) over an enterprise in a foreign or host country. Unlike short-term capital flows, foreign direct investment (FDI) is not immediately susceptible to reversibility. The bulk of FDI activities in developing countries are undertaken by multinational or transnational corporations. A transnational corporation is a firm that is head quartered in a home country but controls assets of enterprises that are central to its profitability in foreign or host countries. References Aliber, R. (2003), the multinational paradigm. Cambridge: MIT Press, pp. 91-98 Borensztein, E., De Gregorio, J. , and Lee, J.-W. (2008), How does foreign direct investment affect economic growthJournal of International Economics vol. 45 pp. 115–135 Braconier, H., Norback, P., and Urban D. (2005), â€Å"Multinational Enterprises and Wage Costs: Vertical FDI Revisited,† Journal of International Economics v.67/2 , pp 313 Braunerhjelm, P., Oxelheim L., and Thulin P., (2005), â€Å"The Relationship between Domestic and Outward Foreign Direct Investment,† International Business Review v.14, pp. 119-131 Cohen, S. (2007). Multinational corporations and foreign direct investment: Avoiding simplicity, embracing complexity. New York: Oxford University Press, pp. 171-77 Dicken, P. (2007). Global shift: Mapping the changing contours of the world economy. New York: Guilford Press, pp. 191-204 Dunning, J., Gugler, P. (2008), Foreign direct investment, location and competitiveness, Amsterdam: Elsevier, pp. 113-119 Graham, E. , Marchick, D. (2006). US national security and foreign direct investment, Washington, DC: Institute for International Economics, 277 P. Buckley and N. Hashai (2004), â€Å"A Global System View of Firm Boundaries,† Journal of International Business Studies v.35, pp. 61-69 Trevino, L. and Upadhyaya, K. (2003), Foreign aid, FDI and economic growth: Evidence from Asian countries. Transnational Corporations vol. 12 pp. 45–72 U.S.-China Business Council, (2008), foreign investment in China, Washington, DC: Author, pp. 81 Yeung, H. (2007), from followers to market leaders: Asian electronic firms in the global economy, Asia Pacific Viewpoint vol. 48 pp. 1–25. How to cite Foreign Direct Investment, Essay examples

Steroids, Illegal or Not, a Quick Fix for Some Ath Essay Example For Students

Steroids, Illegal or Not, a Quick Fix for Some Ath Essay letesIssues of cheating or winning at any cost, are becoming more and more common among athletes of all ages and levels of ability. The use of steroids is one of the biggest issues in the current debate weather or not it is fair for drug-free athletes to have to compete with athletes that break the law and take illegal steroids. Allowing those with an unfair advantage to compete can pressure drug-free athletes to use anabolic steroids to remain competitive. In fact, some legal analysts have viewed this issue as a reason for an Anabolic Steroid Control Act, but does the Anabolic Steroid Control Act work? Whether providing criminal penalties for illegal steroid use is the proper and most effective way of dealing with the steroid problem has been debated for quite some time, but the Control Act has been found to deter trafficking, protects young people, and preserves fair competition in sports. The following exert is from an editorial by M.G. Di Pasquale concerning drugs and sports. Contrary to what most people believe (the medias irresponsible sensationalism has resulted in the widely held mistaken view that the use by athletes of anabolic steroids and other performance-enhancing drugs is a problem on par with heroin and cocaine abuse), the use of drugs, such as anabolic steroids, by athletes is a problem, not because of the addictive and dangerous side-effects of these compounds, but because these drugs offer an unfair advantage to the athletes who dont use them.Anabolic steroids were developed in Europe around 1930 to treat undernourished and healing patients after surgery. Anabolic steroids are a drug containing hormones which can be used to increase strength and promote muscle growth. Competitive weightlifters began using these steroids around the 1950s as a way to increase their athletic performance and gain an upper hand on the rest of their competitors. After its initial use in bodybuilding the drug spread like wildfire thought the rest of the sports world, ranging from sports in high school to professional athletes in the Olympic Games.The use of anabolic steroids has been on the rise in the last ten years. It has been estimated that at least 1 in 15 male, high school sports athletes have used steroids, which means more than a half-million high school athletes have used steroids. On the web site, www.steroidabuse.org, an article states There has been recent evidence suggesting that steroid abuse among adolescents is on the rise. A NIDA funded survey of drug abuse among adolescents in middle and high schools across the United States, estimated that 2. 7 percent of 8th- and 10th-graders and 2.9 percent of 12th-graders had taken anabolic steroids at least once in their lives. Steroids usually seem desirable at first, but there are serious side effects which accompany the very desirable effect of steroids. Excessive use may cause an imbalance in the users normal hormonal balance and body chemistry. Some of the many side affects are, but not limited to, heart attacks, water retention: which can lead to high blood pressure and stroke, and some liver and kidney tumors are also possible. But just as serious are the psychological effects of abusing steroids, they can include drastic mood swings, inability to sleep, and feelings of hostility. Steroids can also be physiologically addictive, and when started, users: particularly athletes, enjoy the physical benefits of increased size, strength, and endurance, some so much that they are reluctant to stop even when told about the risks. The Control Act has been of extremely lax in addressing the problem of elite athletes, who are almost never prosecuted under the Control Act. .ue4e4667946fd94f86dd16e4e126d437e , .ue4e4667946fd94f86dd16e4e126d437e .postImageUrl , .ue4e4667946fd94f86dd16e4e126d437e .centered-text-area { min-height: 80px; position: relative; } .ue4e4667946fd94f86dd16e4e126d437e , .ue4e4667946fd94f86dd16e4e126d437e:hover , .ue4e4667946fd94f86dd16e4e126d437e:visited , .ue4e4667946fd94f86dd16e4e126d437e:active { border:0!important; } .ue4e4667946fd94f86dd16e4e126d437e .clearfix:after { content: ""; display: table; clear: both; } .ue4e4667946fd94f86dd16e4e126d437e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue4e4667946fd94f86dd16e4e126d437e:active , .ue4e4667946fd94f86dd16e4e126d437e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue4e4667946fd94f86dd16e4e126d437e .centered-text-area { width: 100%; position: relative ; } .ue4e4667946fd94f86dd16e4e126d437e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue4e4667946fd94f86dd16e4e126d437e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue4e4667946fd94f86dd16e4e126d437e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue4e4667946fd94f86dd16e4e126d437e:hover .ctaButton { background-color: #34495E!important; } .ue4e4667946fd94f86dd16e4e126d437e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue4e4667946fd94f86dd16e4e126d437e .ue4e4667946fd94f86dd16e4e126d437e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue4e4667946fd94f86dd16e4e126d437e:after { content: ""; display: block; clear: both; } READ: Aaron Burr Treason Trial Essay Although the remote possibility of criminal prosecution deters few if any Olympic and professional level athletes. Still the most effective way to remove anabolic steroids from competitive sports is through systematic drug testing. Athletes who fail the steroid test will be prohibited from competing. While testing for anabolic steroids is not perfect, it does remove, or at least identified steroid-users in their sports and also serves as the most effective deterrent to date. Serious athletes devote huge amounts of time, energy and resources into training for an event. The effect of drug testing for preventing steroid using athletes from competing, is both a more effective and more appropriate deterrent than the Control Acts threat of making overly ambitious athletes into convicted felons. A better solution to the problem is sorely needed and clearly the two greatest dangers in the use of anabolic steroids today are the use of tainted black market substances and there failure to be medically monitored and supervised. Anabolic steroids would also need to be restricted to non-competing adults, and non-physicians caught trafficking in steroids, especially selling steroids to minors, would be subjected to stiff criminal actions. There are obvious political hurdles standing in the way of all solutions, but Congress and law enforcement authorities would have to accept that fact some adults, who are not competitive athletes, would in theory, be legally able to use anabolic steroids for cosmetic and physique enhancement under the supervision of a qualified physician. However with the current trend of unsupervised and self-administered steroids, and the use of potentially dangerous black market products, the steroid problem and their use by athletes is only going to become infinitely worse. Works CitedThe National Institute on Drug Abuse (NIDA). Alan I. Leshner, Ph.D. 14 April. 2000. DirectorNational Institute on Drug Abuse. ;http://www.steroidabuse.org;Why Athletes Use Drugs. Editorial. Drugs in Sports Feb. 1992, (Vol. 1, Number 1. ) M.G. Di Pasquale.

Consequences of Brexit for the UK Business-Samples for Students

Question: What are the Consequences of Brexit for the UK Business Cycle? Answer: To begin with, it is necessary to acknowledge that Britain has the requirement to do unilateral extraction and after that it is necessary providing the scenario to initiate discussions with the European Union in respect of a deal on trade. On the other hand, in respect of the outcomes, it can be mentioned that unilateral extraction will take the British exporters too far. They will have no information relating to the potential future expenses for conducting trading with the European Union. Taking into consideration the consequences of Brexit for the UK business cycle in terms of leaving the single market can be stated that the politicians as well as commentators are being faced with the reality that the UK will be unable to do the imposing of limitations on the free movement of citizens from Europe into Britain. It will be enjoying as well, the sustained membership regarding the single market. This will not be allowed by the rest of Europe and choices are required to be made by the UK. However, other trade-offs as well as major economic consequences are still not being identified (Johnson 2014). For instance, the consequence to leave the single market will probably end the rights of every services organization that are based in the UK for selling into the markets in Europe devoid of getting discriminated or getting faced with regulatory barriers locally. Specifically, this would be stating that the financial organizations that are placed in London will be losing their passport for selling the services across the bloc. Most of them have clarified that they will be moving their European head-offices out of the UK capital when this will occur and as a result, taking the jobs out of the country. To leave the single market might as well have a specific meaning that the euro-dominated derivatives clearing trade might get compelled in shifting from London into a destination in the European Union, which will again create a dearth in jobs within the City. This will also be influencing the balance of payments. In 2015, financial services reported in respect of approx. a third of the countrys 90 billion pounds of service exports to the European Union. There was also the accounting of the excess in respect of financial services trade of the European Union regarding a quarter of the countrys overall services export surplus in the previous year. If the traditional services surplus of Britain will get corroded, then the countrys worryingly large current account shortage will be getting threatened for getting yawned even wider. Moreover, the consequences of quitting the Custom Union of the EU will be stating that there will occur the negotiation of the UK regarding an extensive free trade deal with the rest of the EU towards dismantling of every tariff regarding goods. Therefore, to leave the custom union will still be necessitating custom verifications that are considered to be costly regarding every British goods that will be making an entry into the single market. In addition, Dublin will be having the requirement for imposing custom checks on products that will make an entry into its territory from Northern Ireland. This will however, create a serious threat to unpick the peace method. The UK as well as Ireland might both possess the willingness of forgoing custom checks and they might also, be having the ability for agreeing upon an agreement on free travelling, but this is not just regarding the two governments (Stock 2015). The remaining countries of Europe will not be allowing Ireland for compromisi ng the sole markets integrity by permitting the importing of goods into Ireland from Britain without getting checked. Also regarding the departing the European Union without any negotiations, it is being argued that the Government must simply be ignoring the Article 50 exit-process. Without getting discouraged in having talks with other European governments, Britain is required to unilaterally withdraw and post that it is required offering the aspect of beginning discussions with the European Union regarding a trade deal. However, taking into consideration the consequences, it can be stated that unilateral withdrawal will be taking the British exporters too far (Lane 2014). They will be having no knowledge of the probable future expenses to do trading with the European Union, considered as the countrys largest single trading partner. In addition to this, the UK will be having an instant separation from the reporting of around sixty agreements relating to free trade within the European Union as well as the remaining countries globally. This uncertain move might be resulting in a significant hit to th e domestic investment as well as anticipatory action by foreign organizations in shifting operations out of the UK (Nam 2017). In respect of unilaterally lifting every tariff barriers from the UK, it has been argued that the Government should not try to do the striking of a unique deal regarding trade with Europe. It has also been stated that as an alternative, the UK is required scrapping every tariffs in respect of products as well as service imports from anywhere else throughout the globe as well as exporting to others under the necessary rules regarding the World Trade Organization. There will occur an enormous economic proposition of this. For instance, the British car exporters to Europe will be faced in an instant manner the European Unions 10 percent import tariff regarding motor vehicles. In addition, the manufacturing firms of the UK will be flooded with huge amount of extremely low priced competing imports from the developing nations. The consequences of this on the UK manufacturing will be shattering (Gopinath 2014). Concerning the prospect regarding the UK public debt, it can be stated that he leaving of UK from the EU, will be impacting upon the UK public finances. The overall influence upon the public finances will be depending on two distinctive elements such as the mechanical effect as well as the national income effect. The mechanical effect explains that being a net contributor in respect of the European Union, separating from the EU will be strengthening the public finances since, the countrys net contribution will plummet. However, taking into consideration the improbability over the type of any subsequent agreement with the EU, it might not be plummeting to zero (Crotty 2017). The national income effect explains that any influence to leave the EU on UK national income will be affecting the public finances. A growth in national income will be strengthening the public finances, where a fall will be weakening them. Moreover, in accord to the mechanical effect, it can be stated that the national gross contribution of the UK in 2014 was 18.8 billion pounds that is considered to be almost 1% of GDP. It is not certain regarding the trade deal that would be getting negotiated after exiting from the EU. The major campaigners of Brexit have ruled out any deal that will be having the involvement of membership of the European Economic Area such as Norway. If the country was supposed to be making proportionally the same net contributions that is being made by Norway, these might be amounting to almost half of the countrys net contribution, which will leave the country with a reinforcement of the public finances of approx. 4 billion pounds (Gandolfo 2013). In addition, in accord to the national income effect, it can be stated that if exiting from the European Union were to have no impact on the national income, then the public finances will be getting strengthened in an unambiguous manner. On the other hand, the public finances are perceptive to even comparatively little changes in national income. Therefore, when the economy would be simply 1% bigger or smaller, then to borrow as a national income share will be in todays terms approx. 14 billion pounds. There is uncertainty regarding the precise influence to leave the EU on national income (Bernanke 2015). There is uncertainty relating to the specific dealing the country will be reaching on trade and also the impact of each of these on development. Concerning the impact on immigration, there is also high uncertainty regarding UKs impact on leaving the EU regarding immigration from outside the European Union. However, it is quite certain that there will occur reduction in immigration from within the EU. It has been found that, on average, the immigrants are found at present to be paying more taxes, receiving reduced amount of out-of-work advantages and placing lower demands on public services in comparison to the native population (Ban 2015). This might change if the immigrants stay in the UK till their retirement, and it has also been estimated that lower immigration will be weakening the long-run public finance position of the UK. In conclusion, it can be stated that the reforms to taxes as well as benefits, and changes to the way in which the planning of public spending is done, will be affecting their association with national income. Future changes in national income will not be similar from the changes that occurred earlier. In addition, there is uncertainty regarding the precise influence to leave the EU on national income. There is uncertainty relating to the specific dealing the country will be reaching on trade and also the impact of each of these on development. The national income effect explains that any influence to leave the EU on UK national income will be affecting the public finances References Ban, C., 2015. Austerity versus stimulus? Understanding fiscal policy change at the International Monetary Fund since the great recession.Governance,28(2), pp.167-183. Bernanke, B., Antonovics, K. and Frank, R., 2015.Principles of macroeconomics. McGraw-Hill Higher Education. Bussire, M., Imbs, J., Kollmann, R. and Rancire, R., 2013. The financial crisis: Lessons for international macroeconomics.American Economic Journal: Macroeconomics,5(3), pp.75-84. Crotty, J., 2017.Capitalism, Macroeconomics and Reality: Understanding Globalization, Financialization, Competition and Crisis. Edward Elgar Publishing. Gandolfo, G., 2013.International Economics II: International Monetary Theory and Open-Economy Macroeconomics. Springer Science Business Media. Gopinath, G., Helpman, E. and Rogoff, K. eds., 2014.Handbook of international economics(Vol. 4). Elsevier. Johnson, R.C., 2014. Five facts about value-added exports and implications for macroeconomics and trade research.The Journal of Economic Perspectives,28(2), pp.119-142. Lane, P.R. and McQuade, P., 2014. Domestic credit growth and international capital flows.The Scandinavian Journal of Economics,116(1), pp.218-252. Nam, D. and Wang, J., 2017. Understanding the effect of productivity changes on international relative prices: the role of news shocks.Pacific Economic Review. Stock, J.H. and Watson, M.W., 2015.Introduction to econometrics. Pearson.