The History Of Gold Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3427 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Gold has been valued as a global currency, a commodity, an investment and used as jewellery for thousands of years. Most people believed that gold is safe haven asset because it hedge against inflation and dollar depreciation. Gold can store their value over the long period. Don’t waste time! Our writers will create an original "The History Of Gold Finance Essay" essay for you Create order For investors they bought gold as tactical assets in order to capitalize the positive price outlook or to maximize the return from gold trading. Gold also used to help diversify a portfolio in order to minimize the risk of investment while enhancing higher return. The price of gold does normally not affected by other mainstream financial assets in the economy. Gold price also do not correlate with commodities like silver, crude oil, coffee SP Index and other commodities. The gold demand is mostly used for industrial sector, jewellery and as an investment. In Malaysia, gold usually will be used as jewellery. However nowadays, many investor and public people are more aware about the important of holding the gold as an investment. They will buy the gold today in order to resell it later at a higher price thus they will gain profit from that trading. On 1 June 2012, the gold price is at US$49.93 (or RM159.58) per gram different from 5 years ago, gold prices were only around US$20. For this shorter period the gold price had double increased. Thus this study objective is to evaluate the factors that influence the gold price in Malaysia. 1.2 History of Gold History of gold gold began in the Middle East about 5000 years ago. In the tomb of Queen Zer and of Queen Pu-abi of Ur in Sumeria, the oldest pieces ofÂÂ  gold jewelry, Egyptian jewelry were found and are the oldest examples found of any kind of jewelry in the third millennium BC. Egypt and especially Nubia had the resources thus make them as a major gold-producing area for much of history. About 400 years later, 1091 BC gold became legalized money in China. It took another 450 years until Lydia minted their own gold coins and in 58 AD, the Romans followed suit. By the time England chose a monetary system which was based in gold and silver in 1377 AD, gold had taken its place amongst silver as a medium of exchange. When Egypt and the Roman Empire were in their full glory, gold was produced in the region of 1 tonne annually. The production of gold fell back under less than a tonne annually in the Dark- and middle Ages (500 1400 AD). In 15th century, when the gold coast o f Africa produced about 5 to 8 tonnes annually, gold production grew notably. The discovery of America opened new possibilities for gold producers and Brazil started to produce gold in the early 18th century. The second era of gold production started in 1848 with the discovery of Sutters Mill gold on the American River. This started the gold rush and output from California soared, reaching 77 tonnes in 1851. Gold findings in Australia the same year raised world production to 280 tonnes in 1852. In 1898 South Africa took the lead in gold production and since produced about 40% of all the gold ever produced. (World Gold Council, 2006a) 1.3 Gold Prices Trends The price of gold is like other traded assets which are subject to the ups and downs in the market. Unpredictable factors that can influence the gold price such as natural disasters, the discovery of new gold deposits, the role of the central bank, inflation, interest rates and exchange rate and the price of other commodities. The price of gold has fluctuated since the gold exchange standard was abolished in August 1971 that is when the IMF founded after the World War II each member was required to peg their currency to the US dollar and the US dollar was pegged to gold. (Bretton Woods System). Under the scheme, the US promised to fix the gold price at approximately $35 per ounce. Since 1971 the gold price has been highly volatility ranging from US$850 in 1980 decreased to US$252.90 in 1999. The period from 1999 to 2001 marked the so-called Brown Bottom after a 20-year bear market. Prices increased rapidly from 1991, but not exceeded the price in 1980 until 2008 when a new ma ximum of $865.35 was set on January 3, 2008. On March 17, 2008 the price has increased to $1023.50 and this was set as another record price. Golds bull run started in April 2001 when the price slowly lifted from US $255.95/oz just higher than the 20 year low of US$252.85/oz on August 1999. Overall, since April 2001, the gold price has more than tripled in value against the US dollar. Between years 2001 to 2009 the gold price rose of 293% that is from US$276.50/oz to US$ 1087.50/oz, and has an average compounded annual return of 18.7%. From June 2009 upward, gold markets experience renewed momentum upwards due to increased demand and a weakening US dollar. 1.3 Gold Market in Malaysia In Malaysia there are five banks that offer such gold investment accounts. These banks will use passbook savings account concept. Passbook will be given to the gold investors and every transaction will be recorded in the passbook. Its functions exactly the same like conventional passbook savings account. Bear in mind that different bank offer different rate of charge or fees. Five banks that offer such gold investment accounts are: UOB Bank Premier Gold Account or Gold Savings Account Public Bank Gold Investment Account Maybank Gold Investment Account Kuwait Finance House Gold Account-i CIMB Bank Gold Deposit Account Gold price in Malaysia is traded in Malaysian Ringgit (MYR). The investors or public person can find the daily reports about gold price in Malaysia from Gold Price Network website which is a free service provided. The gold price is count based on Malaysian Ringgit per ounce, gram, and kilo gram in different carats 24k, 21k, 18k, 14k, and 10k. Gold Savings Passbook Account (GSPA) VS Gold Investment Account (GIAGold Investment in Malaysia Public Bank (GIA) vs Maybank (GSPA) public bank passbook savings account Maybank GSPA gold savings passbook account gold rate gold price today gold investment account Gold GIA current gold price ) From the table, there are not much of different between both banks. The investors should go further analysis before decided to make an investment. Maybank Gold Savings Passbook Account Public Bank Gold Investment Account Selling Price (RM/gram): 109.29 Buying Price (RM/gram): 101.30 Price Difference: RM 7.99 Percentage Difference: 7.31% Selling Price (RM/gram): 106.28 Buying Price (RM/gram): 102.12 Price Difference: RM 4.16 Percentage Difference: 3.91% Source : Maybank and Public Bank 1.4 The Kijang Emas Gold Bullion Coins The Malaysian gold bullion coin, known as the Kijang Emas issued by Bank Negara Malaysia launched in 2001 by Y.A.B. Dato Seri Dr. Mahathir Mohammad, the previous Prime Minister of Malaysia. Malaysia is the 12th country in the world that issues its own gold bullion coin. Now the Kijang Emas had joined the ranks of other international gold bullion coins. The design of the Kijang Emas depicts a barking deer (kijang) in its natural habitat in the Malaysian jungle. The reverse side features is the hibiscus, which is a national flower of Malaysia. 1 Troy ounce Kijang Emas RM200 Face value: RM200 Gold Purity: 99.99% Standard weight: 31.105g Diameter: 37.00 mm 1/2 Troy ounces 1/4 Troy ounces Kijang Emas RM100 Kijang Emas RM50 Face value: RM100 Gold Purity: 99.99% Standard weight: 15.550g Diameter: 28.00 mm Face value: RM50 Gold Purity: 99.99% Standard weight: 7.780g Diameter: 22.00 mm The trading or (purchase and reselling price) of Kijang Emas is determined by the prevailing international gold market price. The Kijang Emas is minted by Kilang Wang Bank Negara Malaysia and distributed by Maybank Berhad. The detailed specifications of the Kijang Emas is as follows: Size Face value Weight (grams) Diameter (mm) Gold purity 1 troy ounce RM200 31.105 37.0 99.99% 1/2 troy ounces RM100 15.550 28.0 99.99% 1/4 troy ounces RM50 7.780 22.0 99.99% 1.5 Vehicles for Gold as an Investment Gold Bars Investing in gold bar is the most traditional way. Gold bars generally carry lower price premiums if compared to gold bullion coins. Investing in gold bar will carry the risk of forgery because of their less stringent parameters for appearance. Gold Coins The easiest way to owning gold is by purchased gold coins from a variety of both large and small dealers. Gold coins are priced according to supply and demand and their real weight, plus a small premium. Exchange-Traded Products (ETPS) Gold exchange-traded products like CEFs, ETFs, and ETNs are traded like shares on the major stock exchanges. Gold ETPs is an easy way to get an exposure to the gold price, without the inconvenience of storing physical bars. Certificates There are two types gold certificates that is allocated (fully reserved) or unallocated (pooled). Gold certificates can help gold investors to avoid the risks and costs associated with the storage and transfer of physical bullion. The r isks that investors may face with like theft, metallurgical assay costs by taking on a different set of risks and large bid-offer spread. Accounts Many banks offer many types of gold accounts where gold can be instantly bought or sold just like any foreign currency on a fractional reserve basis. The most important differences between accounts are whether the gold is held on an allocated (fully reserved) or unallocated (pooled) basis. Derivatives, CFDS And Spread Betting Derivatives currently trade on various exchanges around the world and over-the-counter (OTC) directly in the private market such as futures, options and gold forwards 1.6 PROBLEM STATEMENT 1.6.1 Volatility of Gold Price The price of gold are always fluctuate in the market. There are many factors that can influence the gold price, such as the discovery of new gold deposits, natural disasters that destroy gold mines, the role of the international financial system, inflation, interest rates and alternative investments, dollar exchange rate and lastly the irrationality of investors. Jonathan A. Batten and Brian M. Lucey (2007) had studied the volatility structure of gold market, trading as a futures contract on the Chicago Board of Trade (CBOT) using daily data from January 1999 to December 2005. They found that the nature of volatility in the gold market is consistent with the complex interaction of price sensitive information from other asset markets rather than the price discovery actions of traders within the gold market itself. Dirk G. Baur (2012) found a positive gold price changes as a signal for future adverse conditions and uncertainty in other asset markets. This introduces uncertainty in the gold market and thus higher volatility. The inverted volatility effect of gold can lower the aggregate risk of a portfolio for specific correlation levels. The Table 1 and chart 1 below shows the average price of gold from year 2005-2011. Table 1 Year Average Price ( $ ) % change 2005 444.74 2006 603.46 26.30% 2007 695.39 15.23% 2008 871.96 25.39% 2009 972.35 11.51% 2010 1,224.53 25.94% 2011 1,571.52 28.34% **Prices from 2005-2011, Kitco.com, based on the London PM fix. The gold price is usually less volatile than other major stock market indices, such as the SP500, and is much less volatile than other commodities. There are good reasons why gold is less volatile than other commodities. First reason is the gold market is liquid and deep and has supported by the availability of large above-ground stocks. Furthermore gold is virtually indestructible and almost of the gold that has ever been mined still exists. It differs from other base metals or other precious metals such as silver, which much of it is in near-market form. As a result, in the event of a sudden rapid increase in supply or demand, recycled gold can be reused, and it frequently does. Thus this will dampen any brewing price spike in the market. The second reason is the geographical diversity of mine production and gold reserves. These are much more diverse globally than other commodities, suc h as oil where production is highly concentrated in the Middle East. This leaves gold much less vulnerable to a regional or country-specific economic or political shock. In 2010 golds annualized volatility came in at 16.1 percent lower than 21.4 percent in 2009. According to the World Gold Council (WGC) last years volatility is on par with golds annualized volatility has averaged 15.8 percent. The annualized figures for crude oil and the SP Goldman Sachs Commodity Index were 20.84 percent and 28.4 percent, respectively. Gold Price volatility is peaking at a price of $1,420 on the London Exchange on December 2010,ÂÂ  gold prices decline 3.7 percent in January 2011. According to WGC. over the past 10 years monthly golds average volatility in a given month is 4.9 percent. Melvin and Sultan (1990) who conclude that political unrest and oil price changes are significant determinants of volatility in gold prices. Fleming, Kirby, and Ostdiek (1998) show that cross-market hedg ing and sharing of common information can transmit volatility across markets over time. 1.6.2 Gold Return Is Higher Than Other Commodities Over the past 35 years, the average annual real rate of return on gold was 1.56 percent. However, it has fluctuated over shorter time periods. Returns for gold are easier to figure out than for cash, bonds and stocks. There isnt a discount rate for the metal, and there arent any payments to include in the calculations. Returns are directly based on whether the price of gold increases; investors forgo interest they would have received from bonds or dividends that go along with stocks. Gold futures add more variables to the return equation. Researched by Colin Lawrence (2003) there is low to negative correlation between returns on gold and those on stock markets, whereas it is well known that stock and bond market returns are highly correlated with GDP. This is because, generally speaking, GDP is a leading indicator of productivity: during a boom, dividends can be expected to rise. The largest gain for gold is from 1978 to 1979, when the price doubled increased from $208 to $45 9 with a return of 98 percent. If the investor had bought gold in 1979 and sold it in 1984 and 1989, the real rate of return would have been -14 percent and -6.5 percent respectively. Since 1998, the price of gold has increase at double-digit annual rates. The real rate of return of on gold purchased in 2009 at $1,087.50 and sold at the end of 2010 for $1,420.25 would have been 28.5 percent. For long-term, gold investments have not done well. For example gold purchased in 1975 at $129/ounce would have sold at the end of 2010 for $1,420.25 for an annual real rate of return of 1.56 percent. In contrast, the real average annual rate of return for Standard Poors 500 Composite Stock Index from 1975 to 2010 was only 8.4 percent. The Comparison Of Return For Gold With Other Commodities YEAR VALUE SP 500 ($) VALUE SILVER ($) VALUE GOLD ($) RETURN SP 500 ($) RETURN SILVER ($) RETURN GOLD ($) 2008 142,317 70,637 64,555 10.34% 6.19% 5.63% 2009 114,343 84,285 84,990 8.54% 6.79% 6.84% 2010 140,892 140,970 92,852 9.18% 9.18% 6.90% 28-Apr-11 173,400 233,917 115,889 10.28% 11.84% 8.12% 18-May-11 170,931 166,144 112,880 10.20% 10.05% 7.98% During 2010 WGC highlights the risk-adjusted gold performance in was able to turn in. Gold return was 29.5 percent both higher and less volatile than the MSCI Emerging Markets Index and the SP 500 Index. 1.6.3 Gold Hedge against Inflation People marketing gold investment products will always describe gold as an inflation hedge. Inflation define as the general rise in the price level and use changes in the CPI as the measure of monthly inflation. More recent data showed that gold has continued to hold its value versus the dollar. A.C. Worthington M. Pahlavani (2006) indicates that a strong co integrating relationship exists between gold and inflation suggesting that gold is a useful inflation hedge in the post-war and post-1970s period. Some studies found that the prices of gold have a positive correlation with inflation and inflation can be used as a leading indicator to predict the price of gold (Sherman, 1983 and Moore, 1990) found. While Christie-Davie et al.(2000) studied found that it takes 15 minutes for the price of gold futures to respond to the announcement of inflation, and this proving that unexpected inflation helps to predict futures gold prices. On the other hand, Jaffe (1989), Garner (1995), Larson and McQueen (1995), Cecchetti et al. (2000) conclude that the gold price is not affected by inflation. Some others also show that inflation in countries other than the US does not accurately predict the gold price and proves that gold cannot hedge against inflation in many countries. Studies using data including the pot -1999 periods of gold price hikes also failed to prove the relationship between inflation and the gold price. 1.4.4 Gold Standard and Gold as a Symbol of Wealth Gold has its own standard of value. Gold standard is a monetary system where the standard economic unit of count is a weight of gold. It defines as national money and other form of money bank deposits and notes were freely converted to the gold at the fixed price. It is ideally fixed and not subject to change. A true gold standard came to fruition in 1990 with the passage of Gold Standard Act. Gold standard can be either internal or international. In internal gold standard, the holders of paper money can redeem it for gold and in international gold standard, only certain entities, for example central banks, can demand the exchange. (Helsinki 2007). England was the first nation to adapt full gold standard in 1844 and Bank of England notes, fully backed by gold, were the legal standard at that time. The period from 1880 to 1913 is often called the classical gold standard. It featured a core of nations, led by the Bank of England. The main gold standard of Europe was maintained by the Bank of England. The Bank of England adjusted interest rates to maintain the price relationship of the pound to other major currencies. In United States, the gold standards are effective when President Franklin D. Roosevelt not allowed owning private gold at the end of 1933.After that period, Bretton Woods System enacted in 1946 and however ended in 1971 when President Richard Nixon ended that trading. Bretton Woods System allowed governments to sell their gold to the United States treasury set fixed exchange rates of $35/ounce. As gold standard was becoming more widely used, its network effects grew. Countries outside the gold standard had a hard time getting credit and exporting their goods and this attracted more countries to use gold backed currencies. Also, one of the main benefits of gold standard was the reduction in inflation volatility. The reasons why gold standard was so successful for so long are the Great Britains leading role in the 1900 century and its role in forcing the rules upon other members of gold standard. This led to a universal acceptance of the gold standard. And while the gold standard itself did not give enough flexibility to monetary policy to avoid shocks, wages and prices were flexible enough. (Bordo, 1993). Fan Fei and Kelechi Adibe (2010), people claim that as gold remains the eternal symbol of wealth in peoples minds; people will switch their investments to gold in ages of turbulence. Gold is the safe haven on the financial market. Gold represents a more credible means of preserving wealth compared with the alternative of holding US dollar denominated assets. Unlike paper money, turning on the minting presses cannot increase the supply of gold (Eric J. Levin Robert E. Wright June 2006). 1.7 OBJECTIVES OF THE STUDY The aim of this paper is to investigate the different factors leading to the fluctuation of gold prices in Malaysia. The research objectives for this study are: To determine if the inflation rates can influence the gold price. To examine if the real interest rates will influence the gold price. To examine whether US Dollar will influence the gold price. SIGNIFICANT OF THE STUDY The finding from this study educates the traders about the factors that cause the gold prices to fluctuate. The information from this study will help new trader, old trader and the researcher before they are decide to make investment. SCOPE OF THE STUDY This study is all about analysis made to see the most factors that causes the gold prices to fluctuate in Malaysia. The analysis takes from the previous research report, journal finding from Gold Price Organization, Bank Negara Malaysia and Department of Statistic Malaysia from year 2007 to 2011. LIMITATIONS OF THE STUDY This research is confined to the study on factors that cause the gold price to change on the short-run and long-run. The data will be collected by secondary data sources. RESEARCH STRUCTURE The research structures are divided into four which are chapter 1 is Introduction, Chapter 2 is for Literature Review, and Chapter 3 is for Research Methodology and last but not least is Finding Analysis. Introduction is to determine what the researcher wants to study and analyze to archive the objective of the study. While the literature review is a step by step process that involves the identification of published and unpublished work from secondary data sources on the topic of interest, the evaluation of this work in relation to the problem, and the documentation of this work. Research Methodology is for explain how the research can achieve the objective of the study and for chapter four is finding where the researcher finding the data to analyze and to know the where there have relationship between dependent variable and independent variable.

Plastic Surgery Speech - 1220 Words

With acts such as a smile or a compliment ones day can easily be made. Such small things can dramatically change a persons life for the better. That is what any medical professional aspires to do. From something as little as a bandage to a full out heart transplant its fascinating how one can come to a persons life for just a day and make them perceive the world in a whole new way. In the field of facial plastic surgery one does not only help those who want to enhance their appearance but also those who unfortunately undergo a trauma. First off one must know if plastic surgery is right for them. The surgeon most discuss with the patient thoroughly his/her desires and expectations to know if they have the right mindset to submit to†¦show more content†¦Other conditions that are the result of accidents, trauma, burns, or previous surgery are also corrected with this type of surgery . . . 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American Perception V.S Kite Runner Perception Free Essays

Perreault 1 Emerald Perreault Mrs. Wagner English IIII 20, December, 2011 American Perception V. S Kite Runner Perception of Afghanistan The U. We will write a custom essay sample on American Perception V.S Kite Runner Perception or any similar topic only for you Order Now S went thru the most tragic, life changing, mind conflicting event of all time. On September, 11, 2001 terrorist flew two plans into the Twin Towers in New York City. The terrorist attack on 9/11 devastated and ruined an enormous amount of American lives. Weather an American lost a friend, loved one, or relative, every American lost something valuable that day. Americans lost their right to feel safe: at work, at home, or at popular locations. The last time American safety was threatened was during World War II. U. S citizens are not use to war or violence happening in their country, unlike the Middle East. Americans do not reacted positively, when tragic situation happen. Their reaction to 9/11 changed the American perception of Afghanistan and Muslim culture. Americans lost all their trust for Muslims. That lack of trust between them created a whole new stereotype. Stereotype: A general statement or word, fit to describe a specific group of people. The American stereotype created to describe Muslims is anyone who is Muslim or from the Middle East was sent to America, to destroy their wealthy non dictated, country. National Geographic Channel says,† Afghans who fled their homeland for a new life in the United States are troubled to find themselves subject to suspicion and mistrust on the basis of their nationality and religion. † Based off of this information, Muslims are all being put into one pile, stereotypically. Afghanistan man who goes by the name of Fouzia Afshari says,† We are good people, we are civilized† who volunteers at Mustafa Center, an Afghan Perreault 2 Culture Academy near Washington D. C â€Å"We are not that type of Afghan people are thinking about right now. † Fouzia Afshari is a Muslim, obviously he is not a terrorist or out to get America, the controversy is the attackers were not American. By not being American, the terrorists allowed Americans to lose trust in a whole country of people. Muslim people will have to deal with the uncertainty of ever gaining American trust back or the American perception of Afghanistan should not be based off of what a handle full of Muslims did,but based on actual facts. Khaled Hosseini book The Kite Runner portrays Afghanistan realistically V. S the American Perception. (National Geographic news website) Clearly, the American Perception of Afghanistan is a little farfetched. The perception is not based on Afghanistan or Muslim culture, but based on what a hand full of Muslims did (AKA 9/11). The terrorist attack traumatized Americans, giving them a stereotypical perception. Typically, when a person thinks of war, immediately people think of other people being shot left and right, bombs exploding everywhere. Americans think that the terrorist attack was the Middle East declaring war on them. From that point on, Americans believed that the Afghans that were not fighting U. S troops off, were all sitting at a table brainstorming how their going to attack America next. Some Americans were so devastated that they will not go anywhere near Muslims or anyone from the Middle East because of their stereotypical perception. Muslims own about 75% of the gas station and covenant stores in the United States. Americans that will not associate with Muslims will go farther out of their way for gas. Americans think that Muslims do not like Americans because of the U. S troops in the Middle East and when an American goes to a Muslim gas station, their receiving less gas. Even in an unstable economy Americans still go out Perreault 3 of there way for gas, allowing Muslims to see that Americans truly view them all as terrorist. For Afghans and Muslims it is confusing for them to understand why the America perception is so ridiculous. The perception is not only based on 9/11, it is also has to do with Americans not being given the full picture of the war in Afghanistan. The media diffidently confuses Americans. Josh Meyer stated in his article Gap between the U. S perception and reality in Iraq, Afghanistan, author posits † While Americans are given one media report after another about how Afghanistan is filled with exploding bombs, attacking hordes of the Taliban and a lawlessness that pervades every corner of the war torn nation, the real story is a more nuanced one. † Americans are given exaggerated reports on what’s happening in Afghanistan. The media is 100% to blame for the skewed version of the Afghanistan war Americans have. Based on that version of the war Americans make false actuation, which hurts the Afghanistan and Muslim population. (Josh Meyer) The American perception of Afghanistan upsets Muslims and makes it harder for their people to come to America. Muslims who are leaving Afghanistan are on America’s side. They are fleeing their own homeland and coming to start new in America because they do not agree with how their country is being ruined. Afghans come to America for the freedom that is taken from them in Afghanistan. Naweed an Afghan woman tells National Geographic channel â€Å"No art, no radio, no television, painting, drawing-nothing is allowed. Education for women is not allowed. Music is not allowed, they call it satanic. That’s why we are strongly working to keep our culture alive here in America. † Naweed is one of many who wants to feel at home. For Muslims America is their new homeland, but because of the American perception the majority of Perreault 4 afghans feel out of place. â€Å" I’m raising my kids here and I don’t want to feel like I don’t belong here. But, that’s what I feel here as an Afghan and a Muslim. † said Alina to the National Geographic Channel, adding: â€Å" I don’t want to lose another home. Afghans don’t want to come to America they rather live in their own country where feel at home, but they have no choice. Yet hope remains that Afghanistan will one day be in the hands of peace-loving Afghans and everyone will see the truth. (National Geographic Channel) Afghanistan was once a country where Afghans could be successful and wealthy. Th en the Soviet Union invaded Afghanistan and the Taliban was created, but took a turn for the worst and the U. S army went to help the people in Afghanistan. When the Soviet Union was defeated the Civil War still continued. The Taliban was created to go in and unify the country. The Taliban comes form the word student- that’s what it means. The Taliban is made up of students that went to religious schools in Pakistan and former fighters, who use to fight in the war against the Soviet Union. The Taliban is what made Afghanistan a terraces place to live. After the Taliban brought peace to 80% of the country, they became power hunger and started to take away Afghanistan’s freedom. Even with the Taliban dictating Afghanistan, Josh Meyer, author of Gap between the U. S perception and reality in Iraq, Afghanistan, author posits says, â€Å" Anyone in this room could go to Kabul now and have a fairly good time. There are restaurants and there are bars,† and the streets are not a shooting gallery with various factions trying to kill each other, while armed insurgents are also trying to U. S and coalition forces. â€Å" The Taliban Is not a very large insurgent group. † Josh Meyer is trying to inform Americans that Afghanistan is not Iraq, but it is still not a place where all Afghans can make a living. (Josh Meyer) Perreault 5 The Kite runner is the perfect example of how Afghanistan is not Iraq, but not a place where all afghans can make a living. Author Khaled Hosseini tells a story about Amir and Hassan these two Afghan boys who grew up together, but where separated by Amirs will to make his farther proud and the Soviet Union invading. Amir betrayed Hassan by watching him being raped by Asseft because Hassan was a Haraza. Guilt ate at Amir until he framed Hassan for steeling and Hassan and his father left in embarrassment. Shortly after Amir and BaBa ( Amirs farther) took a journey to America. Where Baba had to run a gas satiation and sell items he bought at a yard sale at the local flee market. Before Baba and Amir came to America they were wealthy. So wealthy that Hassan and his father were Baba servants. Afghanistan is not as poverty strict end as Americans thought it was. Amir and Baba did not come to America to destroy it, he came to America because Kabul was not safe and he hoped Amir could receives the best possible education in America. Baba and Amir were in America for two years. For those two years Baba would by a jar of fruit form the same people everyday with cash. One day Baba had no money, he wrote a check out instead. When the man asked for Id Baba exploded, â€Å"He wants to see my license? Almost two years we’ve bought his dam fruits and put money in his pocket and son of a dog wants to see my license. † Amir says, â€Å" They’re suppose to ask for Id† Baba says,† Dose he think I’m a thief? What kind of a country is this? No one trusts anybody. † Baba thought that the man working thought he was steeling when the man asked Baba for Id. Baba was offended. Years down the road Amir is told that Hassan died in Kabul. Hassan was shot in the back of the head because a Talian member thought him and his family where living in Amirs old house instead of in the hut outside made specifically for servants. Amir felt responsible because if he Perreault 6 and Baba would of stayed Hassan may still be alive. For Hassan he is an Afghan who should fled from Afghanistan. Amir and Baba could of stayed in Afghanistan. Khaled Hosseini book portrayed Afghanistan well and realistically. (Khaled Hosseini) The American Perception of Afghanistan is not realistic or based on actual facts. The Kite Runner diffidently grasps and gives a better understanding of Afghanistan. Unfortunely, Afghans who come to America will have to deal with the mistrust Americans have towards them like Baba. The American Perception is not do to Americans not educating themselves. It is because of terrible media reports. Bergen the author of The Longest War: Enduring Conflict between America and Al-Qaeda says, â€Å" It is not being well communicated to the American public that the afghan war is nothing like the Iraq war, the media has to take responsibility for that. The differences between Afghanistan and Iraq couldn’t be more stark. † Bergen wants people to know that the media is portraying Afghanistan as a war torn place like Iraq, when they are both completely different. Afghanistan is not in as big of an up roar as the media made it. Instead of relying on the media to prove Americans with the proper information, Americans should educate themselves, stop listening to everything they hear. Also Americans should not rely on electronics and once in a while pick up a book or ask someone who is Muslim to explain what’s going on. (Bergen) How to cite American Perception V.S Kite Runner Perception, Essay examples

Case Study of Jack Solan-Free-Samples for Students-Myassignment

Question: Discuss about the Importance of Leadership Management for Maintaining Organizational Productivity. Answer: Problem Identification and Analysis: The performance level of Brini campus was not at the expected level at all. Jack has noticed Brini campus was not following the guided practices in Australian campus. UAus have faced negligence at the time of conducting meeting with local organization and government. No arguments were documented properly, which has created chaos in the management process. In fact, the regional manager Kevin have mentioned that local people does not believe documentation process. Therefore, it has created communication gap between Jack and other senior managers of Brini campus. Moreover, the performance level of the employees has not improved over the past one year. Jack has evaluated that major section of the team is not committed enough towards fulfilling of organizational responsibilities. It has created challenges like irregular attendance and lack dedication towards management. Jack has estimated that campus had enrolled only half of the estimated number. Here, Jack have identified that there is no connection between the academic and administrative personnel within Brini campus. Moreover, UAus is facing challenges with the leadership style, as majority of the employees have not been directed or encouraged. The overall communication structure in Brini campus was completely broken that has affected the business performance in a major way. The senior management of UAus have identified the number of Brini campus were only 10% of the prediction. The senior manager Ted and Leo have not provided clear information about sales objectives and financial goals to the team. There is no proper competitor analysis or forecasting strategies conducted in the market, which also has created massive impact on the overall business management. Hence, the entire workforce at Brini campus was completely de-motivated that has created massive adverse impact on the business performances. Statement of Major problems: As per the article by Verbeke (2013) majority of the businesses have go through several challenges simultaneously. Therefore, it is critical for UAus to focus on assessing the prime problems in an effective manner. Proper identification of the major problem can allow businesses to increase the efficiency level of the initiated strategies in a major way (Bentley, Omer Sharp, 2013). As mentioned earlier, the business project of UAus in Pacific Island nation has not turn out to be a success like its previous business. Several factors have combined to reduce the growth rate of Brini campus in a major way. For that reason, Brini campus needs to segregate all the risks based on its significance. In case of UAus, commutation gap between all levels of employees can be regarded as the prime issues with Brini campus. The local managers of Brini campus has not only provided clear goals and objectives to the executive teams but also has not informed anything to the Managing Director Jack. As stated by Cavusgil et al., (2014) communication with the senior and peer groups is essential for accomplishing business goals and objectives. It eliminates any possibility of confusion regarding the roles and responsibilities of each employee at workplace. Here, the case study has highlighted that the entire business development team of Brini campus was not aware about the financial goals and objectives of the organizational management. Therefore, it has directly affected the overall commitment level of the employees. Secondly, inefficiency in maintaining effective leadership style is another prime challenges that affected the overall business level of Brini campus. As described by Wild, Wild and Han (2014) development of supportive leadership style is critical for encouraging employees to give their best at the workplace. The regional manager Ted and Leo has not taken any special initiatives to create disciple within the workforce. In fact, they have not communicated with each employee appropriately regarding the target, market size and competitors. Without the help of leaders, employees have not able to provide required level of effort for the organizational management efficiency. Generation and evaluation of a range of alternative solutions: According to Buckley and Ghauri (2015), businesses need to focus on evaluating different alternative solutions for enhancing the effectiveness of decision-making procedure. For that reason, UAus also needs to evaluated several alternative strategies to gain success in the Brini campus. The alternative solutions for the selected prime problems of Brini campus is provided as follows: Integrity theory: The implementation of integrity theory is one of the major solutions for resolving the issues faced by briny campus. The primary purpose of integrity theory is combining the proposition as well as social control. A particular organization is possessed with the people of different cultures and geographical backgrounds. Therefore, the responsibility of business leaders should be implementing integrity policy with the help of which every single employee can provide their co-operative outlook towards each other instead of having cultural, religious and psychological barriers and constraints. The leaders have to take the prime responsibility in maintaining a constant team rapport. Therefore, integrity theory enables to motivate the employees for maintaining a proper bonding the management. Alternative solutions for the communication problem: Effective utilization of workplace communication is essential for accomplishing several business goals and objectives (Schrader, Freimann Seuring, 2012). The present business scenario of Brini campus is not at the perceived condition. There is no clear communication structure within the senior management and with the employees at Brini campus. Now, in order to construct clear communication structure, UAus can focus on conducting weekly meeting with all the employees and managers. It will allow the entire team to discuss all the potential target and goals of the organization in a major way. As per the article by Casson (2013) proper utilization of team meeting can allow employees to understand perspectives of each other. Moreover, it will set to formulate clear organizational goals and objectives, which will ensure entire operational process move forward towards right direction (Robbins et al., 2015). In addition, weekly meeting will allow managers of UAus to listen to thoughts and p erspectives of the employees. Therefore, it will help the managers to assess the kind of challenges they are facing in accomplishing their business goals and objectives. Secondly, UAus can focus on utilizing employee feedback technique before initiation of any strategies or policies. Employee feedback procedure would help senior management to understand the kind of facilities or help are required to provide proper support to all the employees. Thirdly, UAus management can also concentrate on conducting different group activities, which will include all levels of employees. According to Berthon et al. (2012), group activities allow businesses to increase the bonding among the employees coming from different cultural and geographical background. Now, UAus has consciously included employees from both host and home country for accomplish all their objectives. Therefore, group activities can increase the communication possibility among the different cultural employees in a major way. Alternative solutions for the leadership problem: Over the years, several studies have highlighted the significance of initiating appropriate leadership style for fulfilling business goals and objectives. For that reason, UAus have also focused on initiating different strategies for enhancing the present quality of leadership. As per the article by Blackburn, Hart and Wainwright (2013) businesses can focus on providing proper training and development facilities to all the managers so that they can able to deal with multiple responsibilities. Here, Ted and Leo has not concentrated on assessing the perspectives of the employees, as they felt no need for understanding. Training and development facilities can allow managers to understand the best way to communicate all the necessary information at workplace. Secondly, top management of UAus will have to provide clear information to all the managers of Brini campus regarding the business goals and objectives. In fact, the management need to highlight the significance of sharing goals and objectives of the businesses to all the employees in an appropriate way. Therefore, it will help to reduce the communication gap across several levels of employees. Thirdly, management of UAus can focus on using monthly performance assessment technique, which can provide an idea regarding the amount of impact each strategy have made on overall business performance. As per the article by Forsgren and Johanson (2014) continues performance measurement is critical for any organization to recognize all the hard work provided by the employees. Hence, it can allow management to provide proper reward and recognition to all the employees, which will in turn create positive impact on the overall motivation level (Wilkins Huisman, 2012). Now, the motivated workforce is likely to give their best for accomplishment of business goals and objectives. For that reason, it can reduce the present level of challenges for the Brini campus in a major way. Recommendations: Appropriate selection of one specific solution is critical for identified two major problems of UAus. In order to minimize the communication gap among the employees and managers, Brini campus can focus on utilizing employee feedback process. Many studies have highlighted several benefits of conducting employee feedback strategy. Firstly, it offers employees the opportunity to share their concerns and thoughts related with jobs responsibilities. Hence, it allows management to provide proper support and guidance to the employees. Therefore, it will in turn create positive impact on the overall satisfaction and motivational level of the employees. Now, Peterson, Arregle and Martin (2012) have stated that motivated employees are likely to give maximum effort for accomplishing all the business goals and objectives. For that reason, initiation of employee feedback strategy is likely to create positive impact on the overall performances of management. On the other hand, business experts are able to take an effective decision based on the feedback sent by the employees. In order to enhance the leadership quality of business managers it can be recommended that the managers should maintain a dignified personality at the workplace. Employee performance is highly dependent on the efficiency and leading quality of a leader. A business expert while dealing with the persons should maintain a professional behaviour so that employees can respect the personality off that individual. At the same time, it is also undeniable that over aggressive attitude towards the employees can demolish the performance level. In this kind of situation, both the business managers as well as the productivity of management will get hampered. Therefore, leaders are recommended to use democratic form of leadership style with the help of which the employees can get the opportunity to share their own point of view regarding the success of business. The business leaders after making a collective decision from the employees can take business strategic decision. Automatically, the decis ion becomes favourable for the employees. Therefore, automatically the business leaders would be able to enhance their leadership quality after making collective decision. As per the point of view of Bharadwaj et al., (2013), employees are able to reach the business target only after working under an efficient leadership. Implementation: Action plan for implementing solution 1: Action plan Implementation Duration Making interpersonal communication with the employees The business experts can make an interpersonal communication in order to collect direct feedback from the employees at least once in a week. 45 minutes Collecting employees feedback Business experts can circulate manual feedback sheet. Here the employees can provide their own opinion regarding the performance level of business leaders without disclosing the name. Once in a week Evaluating the decision as per employee feedback Based on the employee feedback form as well as conversation the business leaders will like to use interactive method for reducing the communication gap. 50 minutes Collecting employee feedback is highly important for evaluating the business progress. Employee feedback can be collected on different ways. Employees can be provided a feedback form with the help of email where they can provide their necessary feedback regarding the organizational strategy and policy. In this particular process employees may have to face challenges if they intend to provide any negative feedback. In addition, one other method can also be implemented in this particular process. Action plan for implementing solution 2: Action plan Implementation Duration Enhancing professional skill In order to establish this plan the organization should implement training and development session of the employees in order to enhance their communication skill as well as technological skill. Once in a week Using the experience in practical field Business managers would be driven in the practical field in order to after receiving the training and development session. Thrice in week (initially), daily basis (later on) Providing efficient trainer for grooming them up Human resource managers should hire the outsiders for executing the developing in order to avoid biasness. Once in a week As per the second solution, the leaders should develop their professional skill for keeping a constant control over entire management process. The employers should invest sufficient amount of money of the purpose of training and development session. The organization should provide an efficient trainer as well with the help of which the business leaders can get a proper guidance. Without having sufficient budget this particular plan cannot be implemented. Therefore, the business employers should focus on investing money for the purpose of training and development session. References: Bentley, K. A., Omer, T. C., Sharp, N. Y. (2013). Business strategy, financial reporting irregularities, and audit effort.Contemporary Accounting Research,30(2), 780-817. Berthon, P. R., Pitt, L. F., Plangger, K., Shapiro, D. (2012). Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy.Business horizons,55(3), 261-271. Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., Venkatraman, N. V. (2013). Digital business strategy: toward a next generation of insights. Blackburn, R. A., Hart, M., Wainwright, T. (2013). Small business performance: business, strategy and owner-manager characteristics.Journal of small business and enterprise development,20(1), 8-27. Buckley, P. J., Ghauri, P. N. (Eds.). (2015).International business strategy: theory and practice. Routledge. Casson, M. (Ed.). (2013).The Growth of International Business (RLE International Business). Routledge. Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., Rose, E. L. (2014).International business. Pearson Australia. Forsgren, M., Johanson, J. (2014).Managing networks in international business. Routledge. Peterson, M. F., Arregle, J. L., Martin, X. (2012). Multilevel models in international business research.Journal of International Business Studies,43(5), 451-457. Robbins, S., Bergman, R., Stagg, I., Coulter, M. (2015).management7. Retrieved 19 August 2017 Schrader, C., Freimann, J., Seuring, S. (2012). Business strategy at the base of the pyramid.Business Strategy and the environment,21(5), 281-298. Verbeke, A. (2013).International business strategy. Cambridge University Press. Wild, J. J., Wild, K. L., Han, J. C. (2014).International business. Pearson Education Limited. Wilkins, S., Huisman, J. (2012). The international branch campus as transnational strategy in higher education.Higher Education,64(5), 627-645.