An Introduction to Business Essay - 4087 Words

An Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important because they provide goods and services for consumers, but they also improve the economy and increase jobs for people within society which is an additional fact producing a higher standard of living. To measure our societies standard of†¦show more content†¦International trade deficits occur when a nation imports more then it exports. The Decline of Smokestack America is when there is a change from an industrial to a post-industrial economy. Finally, the conservation of energy is so that there are a sufficient amount of natural resources necessary to produce goods. General economic growth or stagnation also has an important influence on business within our society. Many factors can affect its condition, such as war, new inventions and technology, political assassinations, the discovery of physical and natural resourc es, labor negotiations, government action, and many others. When the economy is strong and the demand is high, businesses can prosper. Regardless of how great the economy may become, businesses still must compete with other firms for scarce raw materials and labor. A businesses environment creates many opportunities as well as problems for prospering businesses. The environment determines what a business can do by shaping and channeling its development. Businesses function within an environment by allowing entrepreneurs to raise capital and create profits freely. The supply of money available within a business as well as the economic stability through times of growth and recession have strong effects on businesses. Not only is the physical environment, including natural resources, pollution and energy as discussed previously, important, but many otherShow MoreRelatedIntroduction to Business4321 Words   |  18 PagesCHAPTER TWO BUSINESS OPPORTUNITIES Seeing, seeking and acting on opportunities is one of the characteristics of successful entrepreneurs everywhere. It is also the basis for starting and maintaining successful ventures. It involves not only generating ideas and recognizing opportunities, but also screening and evaluating them to determine the most viable, attractive propositions to be pursued. WHAT IS A BUSINESS OPPORTUNITY A business opportunity may be defined simply as an attractive ideaRead MoreIntroduction to Business852 Words   |  4 PagesUnit 1: The Business Environments AIU Online Abstract Comprehending the three legal businesses are prompted through the business type you desire to generate. Based on your goal you would want to select a type of business fitting you free enterprise and the amount of management judgments you will have to make. In the particular scenario provided, you would decide the best fit type of business; first you are going to explore your business opportunities. If the accurate selection was establishRead MoreIntroduction to Business Studies2099 Words   |  8 Pages An Introduction to Business Studies Question 1 Arena flowers is one of the renowned UK based company delivering fresh flowers to the customers directly from the growers avoiding the middlemen. SWOT analysis is conducted below to see what are the strengths, weakness, opportunities and threats for the company (Graham, 2011). SWOT ANALYSIS Strengths: Human Resource Management: Company can hire employees at low cost Flexibility to hire and manage its human resource easily according to theRead MoreAn Introduction to Business Studies9335 Words   |  38 PagesB120 An Introduction to Business Studies PDF created with pdfFactory Pro trial version www.pdffactory.com Contact Information PDF created with pdfFactory Pro trial version www.pdffactory.com Session 1 WHAT IS A BUSINESS? PDF created with pdfFactory Pro trial version www.pdffactory.com What is a Business? Business is such an integral part of our lives that we do not normally stop to think about it. It is hard to define for the very reason that there is so much of it around usRead MoreIntroduction to Business Essay4094 Words   |  17 PagesIntroduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only importantRead MoreIntroduction to Business Essay1478 Words   |  6 PagesReview Questions 1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? Factors that contribute to the rapid pace of change in business are Natural Resources, Capital, Human Resources, and Entrepreneurship. It is said that it will likely accelerate over the next decade because of the economic stimulus package designed to not only create jobs, but also to build infrastructure. 2. What role doesRead MoreIntroduction to Business Skills3344 Words   |  14 PagesIntroduction to Skills A successful manager possesses a lot of skills. The skills have opened a pathway for him to the way of success. Is it important for a manager to possess a certain skills? Is it important for a manager to learn those skills? The answer is yes. A manager needs those skills to ensure they can work with more effectively and efficiently. There are four main general skills that a manager needs to equip with. An effective manager must be proficient in these four main general skillsRead MoreAssignment Introduction to Business1344 Words   |  6 Pages1 | Characteristics of â€Å"Partnership† | Chapter 3 | Third Question | Chapter 3.1 | Characteristics of â€Å"Business Environment† | Chapter 3.2 | Characteristics of â€Å"Porter’s Five Forces† | ADIL ZHAXYLYKOV TP029709 UCFF1207(G2-T2) BM004-4-0 ITB 1. What would be the aims and objectives of the business Luke is planning to implement after graduation? The main aim of the Luke’s business idea is to provide lessons to people especially older people, on how to use the internet and e-mail. He wouldRead MoreIntroduction to Business Essay919 Words   |  4 PagesAssignment one 1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? Human resources, capital, natural resources, entrepreneurship, and technology all play a factor in to a rapid change of pace. They are likely to increase because all of these factors are growing rapidly. 2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other partiesRead MoreIntroduction to Business Policy1145 Words   |  5 PagesPolicy - is a predetermined course of action which is established to provide a guide toward accepted business strategies and objectives. Policies identify the key activities and provide a general strategy to decision-makers on how to handle issues as they arise. This is accomplished by providing the reader with limits and a choice of alternatives that can be used to guide their decision making process as they attempt to overcome problems. Characteristics of a Policy 1. Are general in nature

Creative Writing A Short Story - 1192 Words

â€Å"Do you often come here?† he asked as a way of restarting a conversation that hadn’t really started in the first place. â€Å"No, not particularly.† â€Å"Live round here?† â€Å"Uh huh.† â€Å"Close?† â€Å"Close enough.† Martin nodded wisely, though Nina saw right through him and into his vacant thoughts, vacant except for one thing. Her vagina. If only his penis had been occupying a similar position in her own mind. One of the barmen swept past on the other side of the bar, a cloth in one hand to mop up spilt beer and a fixed expression of mild bemusement on his pleasant features. Nina would have liked it if he had winked at her or made some other form of non-verbal communication that verged on a written invitation as he passed. He didn’t, but then he was†¦show more content†¦Ã¢â‚¬Å"Can I ask your name?† â€Å"You can.† She smiled. He didn’t. â€Å"It’s Nina.† â€Å"Nice name,† he said, and waited. She didn’t return the question, and he didn’t proffer an answer. Best to remain anonymous anyway. â€Å"So what do you do?† he asked. â€Å"I’m divorced,† she replied, as if that was sufficient explanation. Then she added, â€Å"Sorry, I’ve got a one-track mind. I’m a teacher.† â€Å"Primary or secondary?† â€Å"Secondary.† â€Å"Fancy any of your students?† â€Å"That’s inappropriate.† â€Å"Do you?† â€Å"Maybe. The older ones.† â€Å"Not the babes in arms, then?† He laughed. And she laughed, suddenly realising that maybe he wasn’t all that bad after all. This meant one of two things, either that she was growing increasingly desperate and had lowered her standards or that he had been merely nervous to begin with and that those nerves had contorted his features and distorted his patter. Their chatter continued, growing less desultory by the minute – or the quarter of an hour. She’s warming up, he thought at one point only to think minutes later that she was cooling down again. No, I’m definitely warming up, Nina thought as the level in her glass dropped and the world began to seem less oppressive andShow MoreRelatedCreative Writing : A Short Story1020 Words   |  5 PagesThe girls sat seperated in two stark, cold rooms. Each of the girls was sat at a table with a clear plastic cup of water sitting at arm’s length from them, both cups untouched. How could they drink when their best friend was no where to be seen? They had been having an innocent night of fun at Mercedes’ house three weeks ago, the first of many planned for the spring break, watching movies on Netflix and eating a pizza they ordered. The night was full of rambling about how classes were, drama floatingRead MoreShort Story : Creative Writing1550 Words   |  7 PagesIn the woods when the sun was just starting to set, there was a van driving on a long-abandoned road, behind the wheel of said van was a tired looking girl who seemed to be about 19. She took a sip of the l ong cold coffee, and turned to the turquoise haired girl sitting next to her. Hey uhhhh Cas, Cassie? Where are we? Noting the headphones, she stopped the car and turned around to inquire of the two boys in the back, Kenny, Timmy, do either of you have an idea where we are? It seems like weveRead MoreCreative Writing : A Short Story1281 Words   |  6 PagesSMACK! I was on my back, peering up at Josh as he laid on top me. â€Å"Gotc....† He begins to say but stopped. The look of victory slowly vanished from his face at the realization of how little space was between us. I could feel his heart hammering in his chest or maybe it was mine. Because, Josh was now searching my eyes as if he was looking for an answer to a question. His lips were only inches from mine and I could feel the heat coming off of them. Everything inside of me screamed to move awayRead MoreShort Story : Creative Writing865 Words   |  4 Pages Brrring! Brrring! Brrring! Brrring! â€Å"What is someone doing calling at 2am† whispers Dave groggily as he wipes his eyes and p icks up the phone. Yawning, somehow he manages to make something comprehendible come out of his mouth, â€Å"Hello? This is Dave speaking.† â€Å"Dave! This is Joe†¦ your old roommate from college. How are you doing?† â€Å"I am doing fine.† says Dave thinking and thinking about who Joe is when suddenly he remembers. At that moment he groans but manages to put out a polite response,Read MoreCreative Writing : A Short Story1037 Words   |  5 PagesThere she goes again. Mother can’t ever mind her own business, Seriously will it kill her to just leave her thoughts to herself. Little Mike came up tugging at her sleeve, his soft little fingers grasping at the cloth, a pull then another. â€Å"Yes sweetheart.† Mike looked at her, his finger pointed forwards, just at the edge of my vision. â€Å"It’s our turn now mommy.† She looked up; Mike quickly ran forward. â€Å"Woah slow down buddy, you can’t walk away by yourself.† Mike came to a sudden stop;he turned toRead MoreCreative Writing : A Short Story1102 Words   |  5 PagesWhen their parents entered their room, Charlie watched as Maggie walked to the window and kept her back to them. They could al l tell she was upset about something. Looking at Elliot, she pushed herself up further in the bed, as Callum grabbed Ian and took a seat on the chair next to her. Ben clasped his hands in front of him as he took a deep breath. â€Å"Ive been asked to stay here in order to help Rachel on her work supplying the Republic with power. I plan on asking Miles to let all of you andRead MoreCreative Writing : A Short Story1148 Words   |  5 Pagesbench nearby. And that’s what she was doing now. She sighed and stood up to go home. The next day she went to school and her best friend Sarina asked, â€Å"What’s wrong?† She then told her the whole story as she didn’t know what happened yesterday because she was absent. Hearing the story she said, â€Å" It’s a good thing that I upgraded my remote few days ago. You should go to the remote shop today after school.† Then they both went to class. When Maya entered her first class she saw Tasha andRead MoreCreative Writing : A Short Story1583 Words   |  7 Pagesforbid, if you don’t find it within two seconds, then youre most definitely an incompetent driver. Almost needless to say, Jason didn’t follow in the outlier’s footsteps, and he aced the questionnaire. Though he did take note that his examiner was creative with her questions. She was probably was deeply saddened that there wasn’t a convoluted touch screen to inquire about, Jason thought to himself. Finally all the formalities were complete, consequently, he took a second to get himself mentally, andRead MoreCreative Writing : A Short Story1440 Words   |  6 PagesPayday arrived for both me and Patsy, giving us the opportunity to attend the luxurious cinema and a wider variety of movies. As we stand before the array of movie posters, deciding between an action or comedy, somehow, how conversation shifts over to John. â€Å"He was so excited about the other night,† says Patsy. I abandon the posters and give her a questioning look. â€Å"About what?† â€Å"Well, first of all spending the evening with you, and then because you hugged him the way you did.† She taps her fingerRead MoreCreative Writing : A Short Story1615 Words   |  7 Pagestown to barter, we’ll ask around.† Shocked that her husband knows about Miles tattoo on her arm, Rachel clings to him in the silence, her mind racing at the possible implications. XXX Rachel sits stunned at the table, listening to Ben relay the story that he’s heard over and over in the village nearest to the house they’ve decided to ride out the winter in. â€Å"Soul Marks? How is that possible? These are just replicas of tattoos,† she replies with a disbelieving shake of her head. Ben shrugged

The Effects Of Hiv And Aids On South Africa - 1279 Words

1. Why has it occurred? The history in how HIV and AIDS in South Africa occurred is one of the most controversial of any country. There have been many instances where the disease has spread rapidly across the country due to lack of action and harmful interference, conflict between politicians, HIV and AIDS organisations and scientists. The consequences of a slow and interrupted response are still being felt to this very day. Although some groups of society are more at risk then others, South Africa HIV and AIDS epidemic affects people from all sectors. It is said HIV in South Africa occurred due to gay men. Two white homosexual men in 1982 were diagnosed with HIV, both whom were flight stewards. In 1989, a study was reported displaying†¦show more content†¦Social factors include: Poverty, as it can drastically limit the access to health care resources, testing, and medication that has the ability to lower levels of HIV in the blood stream and also help prevent transmission; discrimination, stigm a and homophobia, as these factors most notably reduce the likelihood for individuals to seek testing, prevention and other treatment; prevalence of HIV, just the overwhelming issue that if more people are affected by the disease the increased chances an individual‘s are going to be affected and also higher rates of incarnation among men, has the ability disturb sexual and social networks in the broader society and decrease women’s ability for women to find a partner (CDCP, 2015). The relations of these factors mentioned above will not only continue to fire the epidemic and increase the impact it will have, it also will be significant in determining which interventions will help prevent the spread of HIV/AIDS. 3. How is currently being dealt with? The Nation Strategic Plan (NSP) is designed to guide South Africa’s response to HIV and AIDS control and develop strategies and interventions to help prevent and treat the disease. Priority 1: Prevention. Identifying and keeping HIV/AIDS negative members of society

Pride And Prejudice By Jane Austen - 1099 Words

The novel Pride and Prejudice by Jane Austen was published during 19th century Victorian England. Despite the governing body being under control by a female head of state, women living in 19th century England had certain limitations set upon them in regards for their future. Pride and Prejudice highlighted the life of a typical women during this time period in that it established their primary function: to marry. Although this novel revolves around characters belonging to a higher social class, the inability of women to exercise their freedom is evident, particularly in the case of marriage. Society and many characters in this novel are not fond of the idea of love. Marriage is more of a mutual commitment based largely on financial†¦show more content†¦It was a gradual series of processes and setbacks which eventually caused both of them to fall in love. Characters such as Elizabeth and Lydia challenge the societal conception of marriage by marrying due to physical attracti on or love instead of financial gain. Marriage can be seen as a business, while men bring money to the family, women simply take out. Marriage was a definite concern for Mrs. Bennet due to two major reasons: to provide a future for her daughters and find a heir that would inherit their property as women cannot. Her views on who her daughters should marry are most explicitly expressed when she states â€Å"It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife.† (Volume 1. Chapter 1. 5). Mrs. Bennet description of a man with great wealth represents the latter of society’s views on marriage. There is no emotional or physical basis of marriage, as it should be done in order to preserve the familial reputation and maintain societal connections. This notion is perhaps highlighted even further while Elizabeth discovers Mr. Collins’ intentions on marrying Charlotte. Charlotte is Elizabeth’s good frien d while Mr. Collins is a clergyman andthe cousin of Mr.Bennett. Mr. Collins came to Netherfield seeking a woman for marriage but was rejected by Elizabeth. When Elizabeth finds out that Mr. Collins has decided to marry Charlotte, she is

The Role of Computer and Internet in Education Free Essays

string(129) " from school administrators and principals are of vital importance \(Carmichael, Burnett, Higginson, Moore, Pollard, 198\." CHAPTER 5 THE INTEGRATION OF COMPUTER USE IN EDUCATION JAN Department VAN DEN AKKER, PAUL KEURSTEN and TJEERD PLOMP of Education, University of Twente, P. O. The Netherlands Abstract Box 217, 7500 AE Enschede, There is an increasing awareness that disappointing experiences with the introduction of computers in education are a consequence of insufficiently taking into account factors that are crucial when introducing change in educational settings. We will write a custom essay sample on The Role of Computer and Internet in Education or any similar topic only for you Order Now Many of the problems in the literature show great similarity with the kind of problems often experienced in curriculum implementation. In this context the endeavors to make computer use an integrated part of classroom activities are analyzed. Emphasis will be laid on the interaction between teachers and courseware; elements for a more effective strategy for the integration of computer use in educational practice will be presented, with special attention to the design of support materials as an essential part of courseware. Introduction Despite many national and local initiatives, examples of successful computer use in classroom practice are still relatively rare. In many countries the number of computers in schools has considerably increased in recent years. However, little progress has been made: still few teachers are actual users; software use is often restricted to drill and practice type; the alignment with the curriculum pattern is poor. Research results (of both surveys and case studies) from many countries point to the conclusion that there is still a long way ahead before computer use will be effectively integrated in most classrooms (see e. g. Becker, 1986; Office of Technology Assessment [OTA], 1988, for the USA;, Chomienne, 1988; Olson Eaton, 1986, for Canada; Cox, 1987, for the U. K. ; Inspectorate, 1986; Plomp Van den Akker, 1988, for the Netherlands). There is an increasing awareness that these disappointing experiences are a consequence of insufficiently taking into account factors that are crucial when introducing change in educational settings. Many of the reported problems that schools and teachers face when implementing computer use show great similarity with the kind of problems often experienced in curriculum implementation (cf. Fullan, Miles, Anderson, 1987; Sheingold, Martin, Endreweit, 1987; Walker, 1986). For that reason we would like to analyze the endeavor to make computer use an integrated part of classroom activities 65 6 .I. VAN DEN AKKER et al from a curriculum implementation perspective. We shall start with an overview of the variables that can influence the process and outcomes of curriculum implementation. For the different categories of those variables we shall then discuss the literature on computer use in education. Emphasis will be laid on the interaction between teachers and courseware. Based on this pro blem analysis we shall present elements for a more effective strategy for the integration of computer use in the educational practice. Special attention will be paid to the design of (written) support materials as an essential part of courseware. An Overview of Factors Affecting Implementation _ Drawing upon the work of Fullan (1982) and of Van Velzen, Miles, Ekholm, Hameyer, and Robin (1985), we propose a framework for discussing factors influencing the implementation of innovations in the educational practice by distinguishing four categories of variables: national (and/or state and/or district) context; characteristics of the school (organization); external support; characteristics of the innovation itself. Within each category several variables can be mentioned: – National context central legislation and regulations; system of policy formation and decision making in educational affairs; time, resources and facilities made available for an innovation; proclaimed values and aims about an innovation; attitude of politicians and (other) opinion leaders about an innovation. School organization experiences with earlier innovations; role of the school leader(s); methods of decision making; available facilities (time, money, materials); internal co-operation and mutual support; distribution and exchange of information. External support inservice training; assistance with internal coaching and guidance personal contacts with – – staff development; for individual teachers; experts and colleagues from other schools. – Innovation characteristics relevance of the innovation for needs and problems of users; clarity of the goals and practical meaning of a change proposal; Implementation of Computers in Education 67 – complexity of innovation requirements, especially in teaching quality and practicality of the innovation products. ehavior; In the next sections we shall first summarize literature on the integration of computer use, as far as it relates to the first three categories (national context, school organization, and external support). We refer to those categories of variables as the conditionalfactors, because they are conditional for the ultimate use of products by teachers in their daily work. Afterwards we shall focus our attention on the characteristics of the innova tion product itself in relation to the teacher’s role. Conditional Which computer literature, emphasis Factors for the Integration of Computer Use research results about use in education? We but restrict ourselves on empirically based conditional factors can be found in the literature on do not intend to offer an exhaustive overview of this to a summary of some selected publications, with an sources. National Context Still little empirical research is done about the impact of variables in the national (state/district) context on the actual use of computers in the school practice. Descriptions of national policies on information technology in many countries are available (e. g. Beishuizen, Tobin Weston, 1988), but focused research efforts in this area are hard to find. Broad attention for policy variables is given by Fullan et al. (1987) in their study on the implementation of the new information technology in Ontario schools. Apart from obvious tasks as investing in hardware, software development, research, teacher training and the like, policy makers should also play a stimulating role in the planning and co-ordination of implementation activities. Proclamation of new aims for the educational system and encouragement â€Å"from above† for initiatives and activities in the field can be helpful for the many participants in the innovation. School Organization The influence of the school organization on the implementation of computer use has been studied more frequently. The results usually confirm the findings from the more general innovation literature. Encouragement and support from school administrators and principals are of vital importance (Carmichael, Burnett, Higginson, Moore, Pollard, 198. You read "The Role of Computer and Internet in Education" in category "Essay examples" ; Cox, Rhodes, Hall, 1988; Fullan et al. , 1987). Help from principals is especially necessary in providing for facilities for training, the purchase of hardware and software, the rearrangement of timetables and other organizational measures. Also conducive to the implementation process is a positive school climate where teachers give mutual s upport by exchanging ideas and experiences and by providing feedback (Carmichael et al. , 1985; Cox, 1987; Inspectorate, 1986). 68 J. VAN DEN AKKER et al. A beneficial role can also be played by computer coordinators, especially if they combine computing expertise with strong interpersonal and organizational skills (Strudler Gall, 1988). Also measures have to be taken to secure long term supplies and maintenance of hardware and software (Bitter Gore, 1986; Wagshal, 1986). External Support A growing body of experience and research data has become available about effective components of inservice training and other forms of external support for schools and teachers in the use of computers. A criticism on past inservice approaches is that the emphasis on technical aspects was too strong, while too little attention was paid to the integration of computer use in the daily classroom practice and also to the skills in selecting and evaluating courseware ~~homienne, 1988; D’Arcy Gardner, 1988; Wiske et al. , 1988). Teachers need a strong support to overcome their (initial) problems of uncertainty and their concerns about changing teacher/student relationships and about accountability (OTA, 1988). There is a growing consensus about characteristics of inservice training that can increase its effectiveness (OTA, 1988; Stecher Solorzano, 1987): appropriate balance between lecture and (guided) practice; detailed curriculum guides and plans for the course plus lesson-related materials and hand-outs; clear training objectives; inservice lessons linked to teachers’ own instructional practice; peer interaction, including communication during hands-on activities; strategies for teaching heterogeneous groups; follow-up support and guidance. This (selective) literature review indicates a rough imilarity between conditional factors for both integration of computer use and curriculum implementation. Future, more focused, research activities are necessary to sharpen our insights in this area. Product Characteristics and the Teacher’s Role â€Å"Educators and educational researchers consistently cite one factor as central to the full development of technology’s use in the schools – the classroom teacher† (OTA, 1988, p. 87). For that reason it is important to take a closer look at the changes facing teachers at the implementation of computer use in their classroom practice. As Fullan (1982) has pointed out, nearly every innovation requires teachers to change on several dimensions: the use of new materials, alterations in their teaching behavior, and changes in their beliefs and attitudes. In this section we want to explore how certain characteristics of the new materials (especially courseware) can influence changes in teaching behavior and beliefs. From the general innovation literature we know that there are several product characteristics that can influence the fate of a certain innovation. First, we present a brief overview of this literature. Then we shall use this as a filter to screen the literature on computer use in education. Implementation of Computers in Education 69 Well-known discourses about influential (product) characteristics of innovations are delivered by Rogers and Shoemaker (1971) who describe features like observability, complexity, compatability, and relative advantage, and by Doyle and Ponder (3977-78) who refer to the practicality ethic of teachers, with criteria like instrumentality, congruence, and cost. An authorative summary of these characteristics is provided by Fullan (1982; see also Fullan et al. , 1987). He mentions the following characteristics, elucidated by some central questions: Need and relevance What is the need for and the appropriateness of the change? What is the priority of the efforts to implement the innovation relative to other concerns? Clarity How clear are the goals and essential features of the innovation? practical implications for the users? Complexity How clear are the How many components of instructional practice are affected and how much do they differ from existing practices and beliefs? How difficult is it to learn the necessary changes? Quality and practicality How well developed and tested are the products? How certain is the impact of the innovation? What is the trade-off between the actual benefits and the personal and organizational costs? Weaknesses in one or more of these characteristics usually cause major obstacles for implementation. Fullan (1982, p. 62) underlines the importance of individual perceptions in this respect: â€Å"ImpIementation is a problem of individuals developing meaning in relation to specific policy or program directions. † Although materials alone can never be sufficient for the implementation of innovation proposals by broad target groups of teachers, the potential influence of materials is great. Well designed and vafidated products can contribute substantially to the realization of educational changes (Crandall and Associates, 1982; Emrick Peterson, 1978; Van den Akker, 1988~). We proceed now with a short overview of research findings about the interaction between product characteristics and teachers in the domain of computer use. Courseware Quality and Teachers’ Problems There is a wide dissatisfaction about the quality of educational software and courseware (OTA, 1988). Some conclusions are: Much educational software is isolated material, badly attuned to the curriculum 0 J. VAN DEN AKKER et al (content, materials, strategies) in use (Inspectorate, 1986; Woodhouse Jones, 1988). Often computer use cannot be a process of simply incorporating new into old, but it requires reshaping what was there (Hawkins Sheingold, 1986). But also a warning is in place: if the software closely relates to the existing curriculum, it can indeed be easier for the teachers to use, but then it is often seen as just an â€Å"extra† and not fully integrated in the day to day practice (Cox, 1987). Thus, software should either support the goals of the existing curriculum or meet the needs for a curriculum change (Mallatratt, 1988). Much software has been developed for use by individual students, not taking into account the usual whole-class teaching and the practical constraints of a classroom with limited numbers of computers (Centre for Educational Research and Innovation [CERI], 1986). This restriction places a considerable demand on the planning and management skills of teachers. Much software is poorly documented (Jorde, 1985). User guides contain mainly â€Å"technical† information about operational aspects of the software. Support (print) materials for the teacher with suggestions how to integrate the program in the instructional process is frequently lacking (Inspectorate, 1988). â€Å"Most software does not yet sufficiently exploit the capacity of the computer to Drill and practice software continues to enhance teaching and learning. . dominate all subject areas† (OTA, 1988, p. 122). Furthermore, much of the early generation of software can be characterized by the â€Å"Quiz Syndrome† (Mackey, 1987). An innovation which appears to bring just one long question-answer routine gets a bad name. The available educational software covers only parts of the different subject matter domains (Inspectorate, 1988); most software is just â€Å"piecemeal† (Williams Williams, 1984). The lack of sufficient high quality materials obstructs the integration of computer use into the daily practice. Problems many teachers experience are the following: For various reasons it is difficult to select suitable software. Not only is software often poorly documented, but also many teachers lack the knowledge and skills for an effective evaluation of the software quality (Knupfer, 1986; Preece Jones, 1985). Moreover, there are only limited possibilities to preview potentially useful software before purchase (Balla, Gow, Burton, 1986; Mallatratt, 1988). Teachers often lack technical skills in using computers and software (CERI, 1986; Ridgway et al. , 1984). This often leads to uncertainty, especially when the level of computer familiarization of the teacher is the same as or even lower than that of the students (Carmicheal et al. , 1985; Heywood Norman, 1988). A consequence of this phenomenon may be that educational computing will be restricted to the limited level of expertise of the teacher. Teachers often experience unanticipated problems with their instructional roles (Carmicheal et al. , 1985; Cuban, 1986; Hawkins Sheingold, 1986; Wiske et al. , 1988). Computers challenge teachers’ existing instructional routines by requiring a shift from expository teaching towards a role in which the teacher is more of a partner and guide of the students. Many teachers feel uncomfortable about these changes and therefore try to minimize them (Elder, Gourlay, Johnstone, Wills, 1987; Olson, 1988; Plomp, Steerneman, Pelgrum, 1988). This factor is particularly Implementation f Computers in Education 71 – important because research has shown that the way a teacher integrates computer use through his ongoing instructional decisions is critical to the impact of computer use on learners and learning results (Wilson, 1988). Cox et al. (1988) observe that teachers frequently lack knowledge and skills for effective stimulation of students’ microcomputer activities, and thus children fail to learn what they might learn with judicious teacher intervention. Teachers experience many practical problems when they start to use computers (Carmicheal et al. 1985; Elder et al. , 1987; Inspectorate, 1986). Computer use demands from teachers many time-consuming management and organizational activities. Wiske et al. (1988) conclude that the major barrier for computer use is that it is unclear for teachers how the potential contribution of computer use can outweigh the costs involved. In summary we may conclude that the research on the integration of computer applications in education reveals many similar problems as described in the literature on curriculum implementation (cf. Fullan et al. 1987). Most factors that influence curriculum implementation also influence the integration of computer use in the instructional practice. An Infusion Approach for the Integration of Computer Use In this section we will try to identify elements of an effective strategy for the integration of computer use in education by analogy reasoning with approaches of effective curriculum implementation. Most teachers, if they are using computers at all, are still inexperienced users; the great majority are in the initial implementation phase. In this stage small-scale successful experiences are an important factor in stimulating the use of the innovation by teachers, both in the field of curriculum implementation (Van den Akker, 1988b) and computer integration (Fullan et al. , 1987). There are two components of successful experiences: first, the students attain clear learning results; second, the teacher succeeds in an effective lesson execution without major problems, and is aware of his own contribution in this respect. Such successful experiences can only take place when teachers have high quality courseware at their disposal. We define courseware as: a package comprising computer software and (mostly written) support materials. Since our analysis of implementation problems indicated that especially the support materials – if available – are of a poor quality, we shall focus on that component (â€Å"lessonware†) of the courseware. In order to identify â€Å"high quality† characteristics, we need to clarify what functions the materials should have for the teacher. Functions and Characteristics of Courseware As shown in the previous sections, integration of computer use by teachers is complex and involves them in learning new roles and unlearning old ones. Implementation can be 72 J. VAN DEN AKKER et al. conceived as a learning process for the teacher in which changes are required in teaching behavior as well as in beliefs, attitudes and understanding. A literature review of Van den Akker (1988b, c) on curriculum implementation, teacher planning, and general learning theories provides some answers to the question of how materials can contribute to this learning process of teachers in their initial implementation phase. The literature on curriculum implementation reveals that in teachers’ initial implementation efforts personal self-concerns dominate, changing via more task-oriented concerns to concerns about the impact of the curriculum on learners (Loucks Lieberman, 1983). Research indicates that this change model also applies on computer integration (Cicchelli Beacher, 1985, 1987; Wiske et al. , 1988). Thus, at present, where most teachers are still in the initiation phase where personal survival concerns dominate, courseware materials should support the teachers by anticipating as much as possible potential user problems and by offering practical advice to prevent or solve such problems. From research on teacher planning (Clark Peterson, 1986) it has become more evident that changing the practice of teaching requires more attention to the stage of pre-active planning. The lesson planning approach is of crucial importance for the lesson execution, and, ultimately, also for learning-by-reflection of the teacher afterwards. Literature on general learning theories indicates that (intensive) orienting activities yield more precise and reasoned plans for action. Courseware may activate and support teacher planning by providing a clear orientation to the teaching task, by pointing to critical features of (computer assisted) lessons and by making suggestions about how to deal with emergent problems during the instructional process. From this analysis we may conclude that courseware, intended for teachers’ initial use, should contain a large amount of procedural specifications: very accurate how-to-do-it advice focused on essential but apparently vulnerable elements of the curriculum. This means that the support materials should not only contain â€Å"technical† information about the use of the computer program, but also detailed advice about the instructional process (cf. Fullan et af. , 1987). With the help of such materials, the teachers should be stimulated to a task orientation and to concrete role-taking experiences and should be supported with practical advice for successful lessons. In order to produce such courseware, one has to follow a very careful development approach, with much attention for formative evaluation and revision of the materials. Obviously, the technical certainty of the software must be guaranteed and the program should be easy to use (Fullan et al. , 1987). Special efforts have to be made to detect teachers’ problems with the use of the courseware in their classroom situation. These evaluation findings should lead to the incorporation of procedural suggestions for the teachers in the support materials about how to prevent or solve such problems. It seems desirable that the development of the software and the support materials (â€Å"lessonware†) proceeds in close interaction. More or less simultaneous design, construction and evaluation activities can further the interwoveness of the different courseware components. Such an approach may also increase the chances to produce courseware that is innovative from an instructional and curricular perspective (cf. Hawkins Sheingold, 1986). Implementation of Computers in Education 73 An Illustrative Study An explorative study along these lines has been done by Keursten (1988), who developed courseware for primary science. He pointed out that there is a remarkable resemblance between major implementation problems of teachers with a new approach in (activity-based) science education and the earlier discussed problems with the integration of computer use. Van den Akker (1988a, b) mentioned the following key problems for teachers in the science domain: complex and time-consuming lesson preparation; a lack of background knowledge and skills (causing a lack of self-confidence); great difficulties in changing the didactical role; insufficient view of possible learning outcomes. In the research project of Van den Akker (1988a, b), a successful effort was made to diminish these problems by providing teachers with many, carefully tested procedural specifications in curriculum materials. Keursten (1988) applied the same sort of specifications in courseware for a series of seven lessons (on the theme â€Å"weather†; final grade of primary school), to be used by teachers who had neither experience with computer use nor with an activity-based science approach. The courseware package consisted of: written lesson materials containing subject matter information and directions for lesson preparation and execution; educational software with a very succinct manual about its operation; and some student materials. The procedural specifications for the package were divided over the written lesson materials (â€Å"lessonware†) and the software manual. In the â€Å"lessonware† the following categories were incorporated: i general characterization of the series of lessons in terms of objectives, content, time (also division of time over different lessons), suggestions for detecting learning effects. ackground information about the subject matter so that it is not necessary for the teacher to refer to other sources during the lesson preparation. Per lesson were included: a short outline of the lesson; suggestions for the lesson preparation, including issues like: necessary learning aids, classroom organization, structure of the lesson in keywords, personal preparation by the teacher. guidelines for lesson execution with suggestions for instructional activities, for classroom organization, and for guidance of the students. The manual of the computer program consisted of: directions for the use of the computer (especially important for teachers without experience with computers); description of the objectives (short, because it is also part of the written lesson materials); directions for the use of software (important, as it must answer all possible questions teachers may have in using the program); points of attention about the siting of the computer(s). – – – – 74 J. VAN DEN AKKER et al. Two basic elements in the design approach should be underlined. First, the curricular perspective was in the forefront; the computer software was developed as a tool for realizing the formulated curriculum aims. Second, the primary focus in the elaboration of the materials was on the tasks and user problems of the teachers – and not on the possibilities of the software. An evaluation of the use of this courseware with five teachers had positive results. The teachers were able to use the package as meant by the designers. They hardly experienced any technical problems and adequately realized the activity-based science approach. Also the reactions and learning outcomes of the students were very satisfying. A general conclusion of this study was that the characteristics of the courseware seem very appropriate to reduce implementation problems. Therefore follow-up research has been started for further investigation of this approach. Conclusion The integration of computer use in the instructional practice of teachers â€Å"infusable† support materials (cf. Wilson, 1988). We would like to summarize our infusion approach as follows: benefits by eachers can start their computer use with short and well organized applications; successful use is strongly advanced by carefully designed and validated procedural specifications in the different courseware components; based on these successful experiences, teachers acquire clarity about the meaning and potential of the innovation, gain confidence in their own competence, and develop their own view of the appropriateness of the innovation for their students and them selves. Without such early â€Å"high quality† experiences, teachers’ judgments about the relevance and practicality of computer use can only be superficial. As Wiske et al. (1988) found, the initial reservations of teachers about computer use diminish after experiencing examples of computer use that yield clear educational benefits. A real integration of computer use in the curriculum can only be realized when teachers recognize the surplus value of computer use. Successes in the early implementation phase are crucial for motivating teachers to further activities and to elicit commitment to the change efforts. We have strongly concentrated our arguments on the role of products (courseware) in the process of implementation. Of course we realize – see the first part of our article – that there are many other variables at stake. But we agree with Collis (1988) that it makes sense to focus on those variables which are relatively easy to manipulate. And, within the then available options, we have strong indications that a sophisticated design of the support materials within courseware can have a great impact on implementation activities and outcomes. We presume that this impact can be increased when the use of such products is combined with inservice training (cf. OTA, 1988). Such integrated support activities seem to have the greatest potential to enable teachers to an effective integration of computer use in their classroom practice. Implementation of Computers in Education 75 References Akker, J. J. H. van den (1988a). Ontwerp en implementatie van natuuronderwijs [Design and implementation of science education]. Lisse: Swets Zeitlinger. Akker, J. J. H. van den (1988b). The teacher as learner in curriculum implementation. Journal of Curriculum Studies, 20 (l), 47-55. Akker, J. J. H. van den (1988c, April). Product design and curriculum implementation. Paper presented at the Annual Meeting of the American Educational Research Association, New Orleans. Balla, J. , Gow, L. , Burton, P. (1986). Computers in the teaching process and software development: Cooperation is the key. Education Computing, 2, 265-271. Becker, H. J. (1986). Instructional uses of school computers: Reports from the 1985 national survey (Issue l-6). 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Introducing microcomputers into the classroom: a study of teachers’ concerns. Journal of Educational Computing Research, 1 (l), 55-65. Cichelli, T. , Beacher, R. E. (1987). The use of concerns theory in inservice training for computer education. Computers and Education, 11 (2), 85-93. Clark, C. , Peterson, P. (1986). Teachers’ thought processes. In M. C. Wittrock (Ed. ), Handbook of research on teaching (3rd ed. , pp. 255-296). New York: Macmillan. Collis, B. (1988, July). Manipulating critical variables: A framework for improving the impact of computers in the school environment. Paper presented at the EURIT ‘88 conference, Lausanne, Switzerland. Cox, M. J. (1987). Computer-assisted learning/CAL and the future. In Tj. Plomp, K. van Deursen, J. Moonen (Eds. ), CAL for Europe (pp. 33-49). Amsterdam: North Holland. Cox. M. , Rhodes, V. , Hall, J. (1988). The use of computer assisted learning in primary schools: Some factors affecting the uptake. Computers and Education, 12 (l), 173-178. Crandall, D. P. , and Associates (1982). People, policies and practices: Examining the chain of school improvement (Vols. I-X). Andover, MA: The NETWORK. Cuban, L. (1986). Teachers and machines: The classroom use of technology since 1920. New York: Teachers College Press. D’Arcy, J. , Gardner, J. (1988). Learning from teachers: Teachers’ perspectives of relevant courseware and training provision. Computers and Education, 12 (2), 321-326. Doyle, W. , Ponder. G. A. (1977-1978). The practicality ethic in teacher decision making. Interchange, 8 (3). I-12. Elder, R. J. , Gourlay, J. , Johnstone, M. , Wills, R. (1987). Microcomputers in primary education. In N. Rushby (Ed. ), Computer bused learning, selected readings (pp. 120-126). London: Kogan Page. Emrick, J. A. , Peterson, S. M. 1978). A synthesis of Jindings across five recent studies in educational dissemination and change. San Francisco, CA: Far West Laboratory. Fullan, M. G. (1982). The meaning of educational change. New York: Teachers College Press. Fullan, M. G, Miles, M. B. , Anderson, S. A. (1987). Strategies for implementing microcomputers in schools: The Ontario case. Toront o, Ontario: Ministry of Education. Hawkins, J. , Sheingold, K. (1986). The beginning of a story: Computers and the organization of learning in classrooms. In J. A. Culbertson L. L. Cunningham (Eds. ), Microcomputers in education (85th NSSE Yearbook, pp. 0-58). Chicago: The University of Chicago Press. Heywood, G. , Norman, P. (1988). Problems of educational innovation: The primary teacher’s response to using the microcomputer. Journal of Computer Assisted Learning, 4, 34-43. Inspectorate (1986). Onderwijs en informatietechnologie: Stand van zaken in her schooljaar 1985l1986 [Education and information technology: State of affairs in the school year 1985/1986] (Inspectorate report No. 7). The Hague: Staatsuitgeverij. Inspectorate (1988). Het NIV0 project in de scholen [The NIV0 project in the schools] (Inspectorate report No. 25). The Hague: Staatsuitgeverij. 76 J. VAN DEN AKKER et af. Keursten, P. (1988). Computertoepassi~gen in het natuur~nder~ijs-curricuf~ [Computer applications in the science curriculum]. Enschede: University of Twente. Knupfer, N. N. (1986). implementation of microcomputers into the current K-12 curriculum: A critical discussion of issues. Madison: University of Wisconsin. Loucks, S. F. , Lieberman, A. (1983). Curriculum implementation. In F. W. English (Ed. ), Fundamental curriculum decisions (pp. 126-141). Alexandria, VA: Association for Supervision and Curriculum Development. Mackey, B. (1987). Effective educational courseware – the microcomputer as a learning medium. In J. Moonen Tj. Plomp (Eds. ), EURIT ‘86: Developments in educational software and courseware (pp. 603-610). Oxford: Pergamon Press. Mallatratt, J. (1988). CAL: Development of an environment to support the innovation. Computer Education, 59, 21-23. Office of Technology Assessment (1988). Power on! New fools for teaching and learning. Washington DC: Government Printing Office. Olson, J. (1988). Schooiworfds/microworZds. Computers and the culture of the classroom. Oxford: Pergamon Press. Olson, J. , Eaton, S. (1986). Case studies of microcomputers in the classroom. Questions for curriculum and teacher education (Education and technology series). Ontario: Ministry of Education. Plomp, Tj. , Akker, J. J. H. van den (1988, April). Computer integration in the curricufum: promises and problems. Paper presented at the Annual Meeting of the American Educational Research Association, New Orleans. Plomp, Tj. , Steerneman, A. H. M. , Pelgrum, W. J. (1988). Curricular changes as a consequence of computer use. In F. Lovis E. D. Tagg (Eds. ), Computers in education. Proceedings of the IFIP TC 3 European Conference on Computers in Education (pp. 03-508). Amsterdam: Elsevier Science Publishers. Preece, J. , Jones, A. (1985). Training teachers to select educational computer software: Results of a formative evaluation of an Open University Pack. British Journal of Educational Technology, 16 (l), 9-20. Ridgway, J. , Benzie, D. , Burkhardt, H. , Coupland, J. , Field, G. , Fraser, R. , Phillips, R. (1984). Conc lusions from CALtastrophies. Computers in Education, 8, 93-100. Rogers, E. M. , Shoemaker, F. F. (1971). Communication of innovations. A cross-culfural approach. New York: Free Press. Sheingold, K. , Martin, L. M. W. I Endreweit, M. E. (1987). Preparing urban teachers for the technological future. In R. D. Pea K. Sheingold (Eds. ), Mirrors of minds. Patterns of experience in edl~~ationa2 compufi~~ (pp. 67-85). Norwood, NJ: Ablex Publishing Corporation. Stecher, B. M. , Solorzano, R. S. (1987). Characteristics of effective computer in. ~erv~cepro~rams. Pasadena, CA: Educational Testing Service. Strudler, N. B. , Gall, M. D. (1988, April). Successl change agent strategies for overcoming impediments IO microcomputer implemenfution in rhe classroom. Paper presented at the Annual Meeting of the American Educational Research Association, New Orleans. Velzen, W. G. van, Miles, M. B. , Ekholm, M. , Hameyer, U. , Robin, D. (1985). Making school improvement work. A conceptual guide to practice. Leuven: Acco. Wagshal, P. H. (1986). Computers in the schools: Lessons from television. Curriculum Review, 24 (3), 32-34. Walker, D. F. (1986). Computers Microcomputers and Education and the curriculum. In J. A. Culbertson L. L. Cunningham (Eds. ), (85th NSSE yearbook, pp. 22-39). Chicago: The University of Chicago Press. Williams, F. , Williams, V. (1984). Microcomputers in elementary education; Per. spectives on impl’ementation. Belmont, CA: Wadsworth Publishing Company. Wilson, B. (1988). faking sense of the future. A position puper on the role of technology jn science, mathematics, and computing education. Cambridge, MA: Educational Technology Center, Harvard Graduate School of Education. Wiske, M. S. , Zodhiates, Ph. , Wilson. B. , Gordon, M. , Harvey, W. , Krensky, L. , Lord, B. , Watt, M. , Williams, K. (1988). How technology affects teaching. Cambridge, MA: Educational Technology Center, Harvard Graduate School of Education. Woodhouse, D. , Jones, A. .I. (1988). Integrating CAL with other instructional activities in schools. Computers and Education. 12 (3), 381-389. How to cite The Role of Computer and Internet in Education, Essay examples

Human Resource Management - Critical Analysis free essay sample

Human resource management Individual Minor Paper (Critical analysis of a current HRM issue) Introduction This thesis aims to identify how employees’ perceived justice (or fairness) of performance appraisals influence their effectiveness and usefulness for an organization’s performance management system by critically evaluating the existing knowledge of appraisal provided by researchers. It contains an analysis of similarities and differences in the points of view presented by researchers and an explanation of why these similarities and differences are influential. Next, it provides a discussion of HRM’s role in the management of this particular issue. This thesis also attempts to move beyond the narrow strictures in which performance appraisal is presently conceptualized, explores gaps in researches and wider issues relating to performance management, and provides important implications for other organizations. Performance appraisal is a human resource management tool that evaluates the quality of a worker’s performance, and it has received much attention for more than seven decades. We will write a custom essay sample on Human Resource Management Critical Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Employees’ perceived justice of performance appraisals has been identified as an important criterion in judging the effectiveness of their organization (Kavanagh, Benson, and Brown 2007). Many researchers have begun undertaking studies on this issue from very early periods such as Jacobs, Kafry, and Zedeck in 1980. However, these researches may seem to be lacking of persuasion because they are old results with limited resources and deficient theoretical basis.

Brexit-hit Hungary eyes Indian corporates in U.K Brexit Referendum

Question: Describe about the Brexit-hit Hungary eyes Indian corporates in U.K for Brexit Referendum. Answer: 1. The Brexit referendum vote could not have come at a worse junction for UK. The economy was already underperforming and with the Brexit verdict, it is expected that the economy in all likelihood would slip into depression. This is indicated from the various macroeconomic data that has recently come in which reflects lower confidence on the part of manufacturers and service providers along with a negative GDP growth rate. In this regard, the various cyclical industries such as auto manufacturers, real estate companies and retailers have already hinted as difficult times ahead as the aggregate demand for various goods and services is expected to fall (Wearden Fletcher, 2016). We are aware that GDP = C + G + I + NX The consumption on part of consumers is expected to decline in the near future which is reflected from the consumer confidence which has already reached at a three year low. Further, in wake of lacklustre demand, new investments would not take place. Besides, there is a possibility of some industries shifting from UK to other EU countries for greater market access to EU countries. Meanwhile, the trade would also be negatively impacted as there would be higher trade barriers between EU and UK Collectively, it can be inferred from the above analysis that the UK economy is entering into a recessionary phase and is heading towards a trough (Koutsoyiannis, 2013). It is imperative for the government to grant a stimulus to the economy so that aggregate demand may pick up and thus the output gap may be bridged. Firstly, incentives need to be provided to the existing business especially those owned by foreign investors. This is imperative as the European nations such as Hungary are making attempts to woo the businesses owned by foreigners particularly those that earn a big chunk of revenue from the EU (Bhattacherjee, 2016). In this regards, the exact etching of the exit treaty with the EU is also imperative which should to the extent possible allow for commerce to flourish in the region with minimal restrictions. Further, tax rebates and subsidies must be providing to the existing businesses so that they could weather the current crisis without much job cuts which would further lower the demand (Dombusch, Fischer Startz, 2012).The cost saving of nearly 8.5 billion annually from Brexit (on account of non-contribution to EU) could provide ample fu nds to the government to provide fiscal stimulus. Besides, the government should also increase its spending in order to kick start the economy and increase the overall activity level (Lilico, 2016). Secondly, the MPC also needs to further cut the interest rates from the existing levels so as to provide an economic stimulus to the economy. This would primarily happen in this manner. Due to cuts in the interest rate, the cost associated with loans would come down which in turn would lead to an increased demand in loan offtake. Due to the increased demand of loans, there would be an increase in the economic activity particularly in case of cyclical industries particularly automobiles and real estate. Slowly, as the consumer spending increases, the output gap would slowly bridge and hence the GDP growth would enter positive territory and the economy in turn would enter the recovery phase. In case the lowering rates to zero levels does not show desired results, then even negative interest rates for short duration of time may be considered for providing impetus (McConnell, Brue Flynn, 2014). This is not unlikely as is indicated from the notice sent by Natwest Bank whereby it is notif ying its customers for a possible cost on their savings (Wallace Morley, 2016). It is imperative that the fiscal policy and monetary policy should work in tandem as for monetary policy to actually show results, there is a time lag. In this time, it is imperative for the government to make favourable announcements which generates positive sentiments amongst the households and also the businesses that the pain would essentially be short-lived. Also, the government in the short term should make attempts to bridge the gap between potential GDP and actual GDP by enhancing the government spending as the other components are unlikely to render much support in the short term (Koutsoyiannis, 2013). But gradually as the government fiscal support is provided along with an expansionary monetary, it is quite possible that recovery may not be too far. 2. Negative interest rates are symbolic of desperate measures on the part of the central bank to provide stimulus to the economy. It is a monetary policy tool which is deployed when even the zero interest rates are not able to provide the requisite stimulus to the economy. This refers to a situation when the nominal interest rates are negative and beats the theoretical lower limit of zero The impact of negative interest rate on the economy could be both positive and negative depending upon their precise usage by the policy makers (Dombusch, Fischer Startz, 2012). The various effects of such a regime are briefly discussed below. Positive effects The various positive effects of negative interest rate are highlighted below. Economic Stimulus When the interest rates are negative, people are penalised for savings as parking their funds in the bank could entail a cost. Similarly, the commercial banks are also encouraged to lend to various commercial and retail borrowers and hence the intention on the part of the central bank is to increase the demand for loan and thereby provide a stimulus to the economy (CW, 2015). This would be accomplished through an increase in supply of loanable funds by the banks on one hand and reduction of savings by households on the other. Usually, such a regime if persists for long could give rise to high inflation and hence negative rates are usually introduced in economies which are in a deflationary trend or have almost zero inflation (Walker, 2016). In 2014, negative interest rates were introduced in a host of countries in Europe with the intention of providing economic stimulus by increasing demand. Further, the inflation rate in these nations was negative and this measure was taken to preve nt the economy from entering into a deflationary spiral. This is because households would be willing to spend their money rather than save which would in turn increase the demand and stem the declining prices (Randow Kennedy, 2016). Currency Devaluation Another impact of the negative interest rate would be on the currency which would get devaluated. The devaluation of the currency would be caused due to the increase in demand of foreign currency against the home currency. This is primarily on two reasons. The foreign investors who are invested in debt would tend to liquidate their investments and would take their capital into a foreign country that offers positive interest rates. Besides, the local investors would also tend to invest their surplus money in foreign markets which would increase the demand for foreign currency. Additionally, the inflow of hot money into the economy would be curbed due to negative interest rate, thus effectively curbing the demand for the domestic currency even further. As a result of the above dynamics, the price of foreign currency would increase against the home currency (McConnell, Brue Flynn, 2014). This would lead to depreciation of home currency. The negative interest rates have been successfull y deployed by Switzerland (1970s), Sweden (2009, 2010) and Denmark (2012) with the intention of stemming flow of hot money and curbing currency appreciation (Walker, 2016). Lower unemployment The negative interest rate tends to provide economic stimulus as has been explained above. Due to economic stimulus, the economy would grow at a faster pace and hence would lead to a higher output in the economy. This would enhance the demand for labour and would lead to a decrease in the unemployment (Dombusch, Fischer Startz, 2012)/ Negative effects The prevalence of negative interest rate regime for long term may also have some negative impact on the economy. Firstly, due to the negative interest rate, it is quite possible that the households may not park their surplus funds in banks as that would entail a cost. Instead, they could park their surplus funds in other asset classes or keep with themselves. As a result of this, there could be a run on the bank and as a result, the banks may face liquidity crisis which could defeat the objective of the central bank (Kane, 2016). Secondly, persistent negative interest rate may lead to a very high inflation and thereby effective guard needs to be maintained so as to ensure that it is used only for a limited period and must not be sustained for long. Thirdly, as explained above, negative interest rate leads to depreciation in the currency and hence in the long run may lead to currency wars especially amongst the export dependent economies which could try to devalue their currency so as to maintain cost competitiveness in exports (Das, 2016). It is therefore imperative to use negative interest rates only as an ad-hoc and last resort measure that too for a limited period of time till it serves its purpose (Koutsoyiannis, 2013). 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McGraw Hill/Irwin Publications, New York Randow, J Kennedy, S 2016, Negative Interest Rates, Bloomberg Website, Available online from https://www.bloomberg.com/quicktake/negative-interest-rates (Accessed on July 27, 2016) Walker, A 2016, Why use negative interest rates?, BBC News Website, Available online from https://www.bbc.com/news/business-32284393 (Accessed on July 27, 2016) Wallace, T Morley, K 2016, Savers Fear Negative Interest Rates as Natwest warns businesses, The Telegraph, Available online from https://www.telegraph.co.uk/news/2016/07/25/savers-fear-negative-interest-rates-as-natwest-warns-businesses/ (Accessed on July 27, 2016) Wearden, G Fletcher, N 2016, Brexit vote hits confidence, hurts companies and weakens London housing market - as it happened, The Guardian, Available online from https://www.theguardian.com/business/live/2016/jul/28/uks-largest-estate-agent-warns-on-profits-as-brexit-hits-the-economy-business-live (Accessed on July 27, 2016)