First of all, North Koreans could be trying to create a new relationship with the United States. On the other hand, this country could have been engaging in such a program in order to deter the United States. (Coughlin, 2000)In fact, during the past, some people have asserted that the reason why North Korea has been doing this is so that they could foster trade agreements or other economic aids. On the other hand, the west would have the ability to restrain weapons made by past communist governments in North Korea. Not all people believe that this is the latter statement is the truth but it is difficult for one to determine whether it is the former assertion that is more convincing than the latter. (Niksch, 2002)It should be noted that North Korea has given its arguments in the past for engaging in nuclear programs. They asserted that there was a need to protect themselves from any sort of aggression especially from Japan, South Korea, or even the United States. The North Koreans assert that they have no way of fully understanding what the real intentions of the US and other countries are towards them. Consequently, the nuclear program is a way in which North Korea can deter the security threat that can be presented from any of the above countries. While members of this country feel that this could actually be a valid argument, one cannot help but notice how insufficient it is. All the latter mentioned countries have communicated their intentions to North Korea. consequently, it becomes very difficult to know whether North Korea’s arguments hold water or not. (Minchoel, 2003)The nuclear program began as far back as the early nineteen sixties. At that time, the North Korean government felt that there was a need to create a fortress around North Korea by militarizing this country. This decision led to the creation of an atomic energy complex.
It is for this reason that there are different bodies and organization such as the United Nations and European Union who are charged with ensuring that there is neighborliness among all member countries and that major issues that has to do with the peace and economic stability of a nation becomes the concern of all member nations (Doyle, 2001). Again, considering the cost of resolving issues of national conflicts of different kinds, it has always been the concern of these organizations to ensure that peace is rather maintained than brokered. What this means is that member states always want to ensure that the peace that exists in a particular country continues to exist and so they will not wait for conflict to break before seeking intervention. This is where peace enforcement plays very instrumental role because unlike peacekeeping that is centered on the need to resolve conflicts and bring about peace, peace enforcement actually seeks to ensure that there is the continual existence of peace.Another element of peace enforcement that stands out from other force of peace deals such as peacemaking and peacekeeping is that there is often the involvement of third parties. These third parties are considered to be entities who are neutral in whatever issue that might be the cause of chaos and confusion in a nation. It would be observed that in the recent events of violence in Syria, the United Nations started making advances at ensuring peace right at the nurturing stages of the violence. This was done by constituting the United Nations Peace Envoy to Syria. Though some analysts have said that the approach could be more combative to force the Syrian government to bring about peace by cutting that country out of the world league and leaving them to their plight, the fact that there were third party involvement specially designated outside the country involved makes the process peace enforcement. Finally, it would be noted that though there were a number of sanctions placed onSyria, the extent where very strong combative military intervention would be used was absented.
Gradual enhancement in member strength of the European Union clearly reflects its regional policy with an objective of regional enlargement. The integration of economies of more number of European countries has been its main objective since its formation (Brent F Nelsen and Alexander Stubb, 2003). It mainly due to the fact the globalization and liberalization demand fast changes and higher flexibility. It also demands the reorientation of strategies to face global competition.The regional integration will certainly aid the European Union to compete well in world trade. The enlargement of the European Union also helped in consolidating security positions (Erik Holm, 2001). Keeping this in view, the EU allowed continuing the open-ended process of European integration. As a result of these initiatives, the EU is one of the largest economic and political entities in the world, with approximately 500 million people and a combined nominal gross domestic product (GDP) of €11.6 (US$14.5) trillion in 20061. Further, it has evolved as a single market with a common trade policy2, a Common Agricultural/Fisheries Policy, and a Regional policy to assist underdeveloped regions3. It has also introduced a single currency, the euro, adopted by 13 member states. The euro introduction has resulted in the faster economic development of European countries and the euro stood strongly against the American dollar. Moreover, the EU also initiated a limited Common Foreign and Security Policy, and a limited Police and Judicial Co-operation in Criminal Matters.Countries as possible have to do at a faster rate. At the same time, it also identified that there have been a lot of differences among these countries in terms of economic growth, gross domestic product, and human development index. Hence simple enlargement will not help European union to achieve success at a global level.
In 2008, the Association of Certified Fraud Examiners’, or ACFE’s ‘Report to the Nation,’ has estimated that an average of 7 percent of the revenue generated by a company is due to instances of fraud. This means that if calculated from the Gross Domestic Product of the United States, this instantly leads to financial losses that may amount up to an estimate of $ 994 billion. It has been reported that the increase in thefts within an organization by its own members or employees has been largely due to the economic crisis and the desperation of needing or wanting money that is not legally owned (Kranacher 80). The 2008 Report to the Nation on Occupational Fraud Abuse by ACFE has not only proven to be a significant contribution to the research of Occupational Fraud and Abuse but has also proven to be an effective report in ensuring that organizations are aware of the serious threat of occupational fraud.At this point, it is important to first define the meaning of occupational fraud and its implications. According to Wells, occupational fraud is an action that has been intended and can never be deemed as accidental. In fact, when a perpetrator attempts to commit the act, there are four elements that must exist before the act can be identified as a fraud. First and foremost, the material false statement should be present. Simply put, this refers to sufficient and important information regarding a transaction. The second element is the knowledge of the falsity of the statement, wherein one party has been able to get hold of or actually possesses enough knowledge about the transaction. The third element involves the reliance on the false statement by the victim, who the first party described realizes. Finally, the fourth element refers to the damages that are the result of such fraud. It must also be noted that there are three components that occupational fraud is made up of. These are the misappropriation of assets, financial statement fraud, and corruption (Wells, ‘Accountancy Age,’ par. 8). In the following chapter, the researcher shall discuss these three components in detail.
This report consists of a detailed view of the current investment environment, different possible asset allocations, the extent to which active and passive investment style to be used by the company, and actions to be taken by the fund.For the best allocation of assets, detailed insight into the investment environment is imperative. This part of the report deals with the investment environment and major issues relating to it. The main component of the investment environment is an economic condition. The global economy is currently in a growth path. United Nations gave out a projected growth of 2.4% for the world economy. The United Nations was also cautious about the implementation of the right policies by nations so that the world could achieve the predicted growth. “The UN report credited massive policy stimuli injected worldwide since late 2008 for the expected rebound. It recommended that the stimuli continue at least until there are clearer signs of a more robust recovery of employment growth and private sector demand.” (United Nations, 2010)Emerging markets, China and India will be the growth drivers in 2010, the expected growth rate being 8.8 and 6.5 respectively. The main reasons for the robust growth would be the better performance of global equity markets, an increase in international trade, and better industrial production. The Russian economy is also expected to post better economic growth. “In the industrialized world, the U.S. economy is forecast to grow by 2.1 percent in 2010 following an estimated decline of 2.5 percent in 2009, the U.N. said.” (Associated Press, 2009) Europe and Japan will be the slowest growing economies in 2010. The growth rate of these regions as per the UN is 1%. However, there are certain issues that can adversely affect the positive investment environment. They are enlisted below.Withdrawal of financial stimulus: Though the UN was positive on the investment environment of 2010, the UN has warned that a premature recovery of stimulus would take the economy again to a recessionary.
The Dimensions of Social Responsibility and the Consequences for Corporate Financial Performancelikely to renew the interest in identifying the dimensions and consequences of corporate social responsibilities.Cameron has suggested that multiple perspectives of organizational effectiveness exist and that "consensus regarding the best, or sufficient, set of indicators of effectiveness is impossible to obtain".The same arguments can be made regarding social performance as a specific aspect of overall corporate performance. Social responsibility continues to be a poorly defined as well as difficult to measure concept. There appears to be no real agreement as to what constitutes social performance. What is indicated is the need to apply measures which address multiple criteria of social performance. This study attempts to specify the underlying dimensions of a multiple measure of corporate social responsibility and investigate the relationship between corporate social performance and multiple measures of financial performance. For the purposes of this study, corporate social performance represents a measure of a firms attentiveness to multiple stakeholder groups. We employ previously unavailable objective measures of social responsibility which overcome some of the methodological problems which have stalled prior research efforts, and propose a working model of social responsibility and its relationship to financial performance.Historically, the responsibility of firms was defined purely in economic terms. For example, Friedman (1990) considered maximization of shareholder wealth as the sole objective and responsibility of the well managed firm. This perspective generally cast corporate activity as a zero-sum game. Whatever resources were expended in the interests of social responsibility came at the expense
In spite of the discouragement caused by the tyrannical regime of Idi Amin from 1971 to 1979, foreign investors still find Uganda a favorable place for investment. This has been enhanced by the government’s efforts to attract investors through many favorable investment policies.Foreign Direct Investment usually has significant effects on employment in any economy. It is important for these effects to be understood to enable governments to determine whether the investments are worth the incentives forwent to encourage them. This paper presents a case study of the effects of Foreign Direct Investment on employment in Uganda. It presents answers to the questions of. what the level of FDI is in Uganda, how many people are employed in the foreign companies, the kind of foreign investments in the country as well as which sectors receive most investment.However, there is a conflict in the findings of the effects of FDI in the Ugandan labor market as there is still a need for 15 million jobs to be created, implying that FDI is not the sole solution for economic development through employment generation. A range of factors needs to be taken into consideration to understand the effects of FDI on the Ugandan economy. The quality of labor, the standard of living, skills, human resource retaining capacity of the local market, wages, etc. determine the success of employment generation. Also, valid primary data can be gathered to determine the effect of FDI on the Ugandan employment market in the different sectors like manufacturing, agriculture, etc. as there seem to be conflicts in perspectives of its effects on local employment.The findings of this research provide an in-depth understanding of FDI as well as its positive and negative impacts on Uganda’s labor force. The recommendations put forward can be useful in dealing with the bottlenecks to increased per-capita income and economic growth in general. The situation in Uganda reflects that of many other developing economies and therefore this case study can be used as a basis for reforms regarding FDI to facilitate growth.
In the case of Iran, the chain of blowbacks was rather devastating and the series of reactions that were let loose forced the United States of America to pay a very heavy price for decades on end.Mosaddeq had come to power in 1951 riding on the back of massive support from nationalist elements that were smarting for half a century from the patently unfair revenue sharing arrangement the country had with British government-controlled Anglo-Iranian Oil Company that enjoyed exclusive authority over the entire oil reserves of Iran. The revenue-sharing arrangement was heavily biased against Iran in as much as it provided for only 16% of the profits from the venture to remain within the country with the rest filling the coffers of Anglo-Iranian Oil Company. (Kinzer, 2003)The first step was taken by the Iranian parliament (Majlis) in 1951 when it nationalized the Anglo-Iranian Oil Company and proceeded to elect Mosaddeq as Prime Minister. This act of defiance by the Iranian parliament disturbed the almost half a century old stranglehold that the British government-owned company had over the entire oil sector of oil-rich Iran. A naturally peeved Great Britain initially contemplated military action to restore the status quo but later decided against it and proceeded to organize an international boycott of Iranian oil. (Guardian Editorial Desk, 2003)This was the overt action by Britain while it covertly planned a forcible overthrow of the government of Mosaddeq through a coup détat against the democratically elected government of Iran. As the international boycott had its desired effect and Iran started suffering from economic hardships, United States gradually got embroiled in this struggle between Anglo-Iranian Oil Company and Iran as it acceded to the request of the British government to help it out in organizing the overthrow of Mosaddeq regime.
It can be seen that the major part of the mid-40s to the 1950s was spent in picking up the ashes of Hiroshima and Nagasaki, and only later did Japan try to start off as a producer of small and medium-sized goods in electronics and household appliances. The commitment of the people and the Government was nothing short of legendary and this enabled an economic miracle in Japan. Right from the 1960s, Japan has experienced consistent growth. In fact, the average growth rate of GNP was estimated at a whopping 10 percent in the decade of the 1960s, which reduced to 5 percent in the 1970s and further to 4 percent in the 1980s. It was unfortunate that the growth rate was reduced due to the overheating of the Japanese economy. As often happens in the case of a lengthy period of economic prosperity, it was thought that the good times would never end and this precipitated an unprecedented rise in the prices of both real estate and shares in the stock markets. Historical records indicate that a similar situation was witnessed in the USA in the Roaring Twenties (1920s), a decade of unbridled euphoria and prosperity, and then it all came down in a shocking way on 24th October 1929, when the stock market tumbled. The resulting panic in the days that followed led to the Great Depression and it took the rest of the decade for America to find its feet again under President Roosevelt. The Japanese economy in the early 1990s was experiencing the same kind of economic situation when the real estate prices were at an all-time high in 1991 and this was followed by the crash of the Tokyo Stock Exchange in 1992. By the late 1980s, Japanese workers were being paid really well and this added purchasing power and affluence to a lot of families. But it would result in higher prices of goods and services which would limit the effects of prosperity. With the growth rates stagnated at 1.5 percent in the 1990s, it would be termed the Lost Decade by locals as well as the world at large. Although the Bank of Japan lowered interest rates, there was no appreciable change in investment, the major part of it has already occurred in the second half of the 1980s.
All these factors had a negative effect on the labour market. thus employment growth rate came to zero on the quarter to quarter basis (E.C. “Economic slowdown hits labor market”).The slowdown in the labour market clearly indicates that the manufacturing sector got most affected and the effect of the financial crisis is clearly visible on the trade sectors. Thus the risk related to businesses has increased by many folds, but there are many sectors which have shown sign of opportunity even in such gloomy economical environment, one of such sector is the tourism sector. Just before the onset of the global economic recession, this sector was booming in EU, and even in the present state, it has possibilities to maintain sustainable growth.The most important question at present is that what are the opportunities and risks which business is facing at present? From the data released by different government agencies around the world, it has been found the biggest threat at present is the financial crisis. In the US lots to people have lost their job and the ones who still managed to retain their jobs are facing cut in their salaries. Thus they are left with very little disposable income. At present demand for consumer durables and for FMCG products has gone down. companies have to cut their production rate and to boost demand they have to compromise with their profit margin. Condition is equally bad for service industries, as they too are facing a reduction in demand. Almost all the sectors are facing sharp competition within their own sector and also with other industries.The impact of global crisis is not that harsh on developing countries like India Indonesia who still managed to have moderate economical growth. The reason behind is simple, as their economy is not too dependent on export, unlike Japan and few other Southeast Asian countries, hence the effect of the global crisis is mild on them. In the developing nation per capita income is increasing so people’s living standard is also going up. Demand still being high, made the center of attraction for all major multinational companies. So these markets provide great opportunities to both the market giant multinational companies as well as to the new entrants (Bloomberg press. “Asia, EU Can Weather Economic Slowdown, Officials Say”).