The History of the Man-Made Invention of Money

The History of the Man-Made Invention of Money Money is anything that is commonly accepted by a group of people for the exchange of goods, services, or resources. Every country has its own exchange system of coins and paper money. Bartering and Commodity Money In the beginning, people bartered. Bartering is the exchange of a good or service for another good or service. For example, a bag of rice for a bag of beans. However, what if you couldnt agree what something was worth in exchange or you didnt want what the other person had?  To solve that problem, humans developed what is called commodity money. A commodity is a basic item used by almost everyone. In the past, items such as salt, tea, tobacco, cattle, and seeds were commodities and therefore were once used as money. However, using commodities as money had other problems. Carrying bags of salt and other commodities was hard and commodities were difficult to store or were perishable. Coins and Paper Money Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the western world to make coins. Countries were soon minting their own series of coins with specific values. Metal was used because it was readily available, easy to work with and could be recycled. Since coins were given a certain value, it became easier to compare the cost of items people wanted. Some of the earliest known paper money dates back to ancient China, where the issuing  of paper money became common from about AD 960 onwards. Representative Money With the introduction of paper currency and non-precious coinage, commodity money evolved into representative money. This meant that what money itself was made of no longer had to be very valuable. Representative money was backed by a government or banks promise to exchange it for a certain amount of silver or gold. For example, the old British Pound bill or Pound Sterling was once guaranteed to be redeemable for a pound of sterling silver. For most of the nineteenth and twentieth centuries, the majority of currencies were based on representative money through the use of the gold standard. Fiat Money Representative money has now been replaced by fiat money. Fiat is the Latin word for let it be done. Money is now given value by a government fiat or decree.  In other words, enforceable legal tender laws were made. By law, the refusal of legal tender money in favor of some other form of payment is illegal. Origin of the Dollar Sign ($) The origin of the $ money sign is not certain. Many historians trace the $ money sign to either the Mexican or Spanish Ps for pesos, or piastres, or pieces of eight. The study of old manuscripts shows that the S gradually came to be written over the P and looking very much like the $ mark. U.S. Money Trivia On March 10, 1862, the first United States paper money was issued. The denominations at the time were $5, $10, and $20. They became legal tender by Act of March 17, 1862. The inclusion of In God We Trust on all currency was required by law in 1955. The national motto first appeared on paper money in 1957 on $1 Silver Certificates and on all Federal Reserve Notes beginning with Series 1963. Electronic Banking ERMA began as a project for the Bank of America in an effort to computerize the banking industry. MICR (magnetic ink character recognition) was part of ERMA. MICR allowed computers to read special numbers at the bottom of checks that allowed computerized tracking and accounting of check transactions.

CHILD ABUSE and CHILD ENDANGERMENT Essay Example | Topics and Well Written Essays - 500 words

CHILD ABUSE and CHILD ENDANGERMENT - Essay Example On the other hand, the investigator of an offense of â€Å"rape† (Teens Health, 1995, para. 1) has to be sensitive to the victim, understanding that she might be in extreme mental shock and agony. Thus, information will have to be elicited very tactically from such a person. In addition, while extracting their testimony, which will afterwards be used when the trial goes to court, the investigator needs to exercise extreme care and caution. Moreover, during questionings and interviews, an ingredient of sensitivity should be in place for gathering, protecting, and transmitting of facts from the commencement investigation at the scene of the offense. Particular care should also be taken while gathering and transferring of data relating to the case. The ethics of the investigators necessitate that they must maintain their journal in a methodical order, cautious and sequential order, by pen ink. These are the specific ethical considerations that require to be addressed when investi gating the crimes of rape and homicide. For all crimes, including rape and homicide, the investigator needs to treat the suspect as guiltless, until his or her guilt is proven in a court of law. Besides, the accused should not be coerced or tortured for extracting information from them. The defendant may also be warned suitably of the implication of the admission of crime, his statements and evidence that they offer the investigator during the course of the examination. The investigator should also state that such evidences will be used against them in a court. In the case of the offense rape, the sufferer should not be suspected, and their testimonial proof should be treated as one stride of continuing the particular investigation in identifying the person responsible for the crime. In some of the case investigative units consists of specially trained officers in child psychology, consisting of lady officers. It is always a good practice to use an

Short answers Essay Example | Topics and Well Written Essays - 500 words

Short answers - Essay Example ng Congressional action with his authorship of the Federalist Papers and his stern belief in a more balanced and financially fair system of government expenditures. An early and notable military leader during the war for American independence, Washington eventually rose to become the first president of the United States. A devout American patriot, Washington was respected by many citizens in that time as both a strong military might and a fair potential president. Despite Washingtons retirement to Mount Vernon prior to being elected the first American president, he remained influential in many governmental matters until his death in 1797, supporting the idea that Congress should fund the debt of the nation. An early puritanical leader, Hutchinson maintained somewhat radical religious beliefs for that time, eventually establishing a bible study lesson for citizens who had migrated to the New World in the 1600s. Her viewpoints on religion eventually caused her to be banished from the early colonial society, however her progressive thinking in relation to religion serves, today, as a map for the evolution of religious beliefs in early colonial America. Angry over Britains imposition of excessive taxation, colonial Americans opened up crates of tea, which was set for exportation to other nations, and dumped it into the harbor to prevent England from receiving profit and taxes on the tea. The colonists were also angry that imported tea distributors/manufacturers were not paying import taxes, which could have assisted the economy of early America. This act enraged England and is noted as the starting point for the Revolutionary War. Angry over Britains constant imposition of taxes on the colonists without their approval, the term no taxation without representation involved the early colonial American belief that taxes cannot and should not be expected to be paid (or acknowledged) without some form of governmental representation that speaks on behalf of citizens.

Improvement of the Quality of Service in a Hospital Case Study

Improvement of the Quality of Service in a Hospital - Case Study Example Public services in London based hospitals provide urgent concern to the public with acute ill health or harm. The hospitals provide emergency ambulance services, blood courier services, and other voluntary services. English National Health Services has largely benefited by the recent introduction of Service delivery targets under a more meticulous management regime. But proper use of HR tools can ensure less staff turnover, better organizational productivity, and corporate financial performance. Even in developed countries like the United Kingdom where there is a sufficient number of nurses, they are often utilized inefficiently, because they do not possess adequate skills or are more focused on urban areas than rural areas. This case study includes the following: Public services and its comparison with private service. SERVQUAL and dimensions of service quality. Measures to improve the SERVQUAL Emotions and work Organizational climate Service climate Ways to measure the service clim ate. Creation of service climate and its relation with human resource tools. Conclusion â€Å"Public sector  productivity  and  service  quality  is  often  held  to  be  dependent, at least in  part, on beliefs, values, and  attitudes  that go  beyond self-interest  to include  concerns  for  the needs  of  others  and the  greater  common  good (Have NHS Regulatory Reforms Undermined Altruism in the Health Workforce? 2012)† â€Å"Public ambulance services across the UK are required by law to respond to four types of requests for care, which are: Emergency calls Doctor's urgent admission requests High dependency and urgent inter-hospital transfers Major incidents† (Emergency Medical Services in the United Kingdom 2012, para. 1). The private service generally includes organizations that are in private ownership, and not owned by the government. These generally include partnerships, corporation, and charities. The organiza tions are not own or operated by the government, for example, local businesses, retail stores, credit unions, are run by the private sector.  Ã‚  

Organization Behavior and Leadership Essay Example for Free

Organization Behavior and Leadership Essay The Expectancy Theory of Motivation One of the most widely accepted theories of motivation is Victor Vrooms Expectancy Theory. â€Å"Expectancy theory argues that the strength of a tendency to act in a certain way depends on the strength of an expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual.† (Robbins Judge, 2007, p.208) [i] In other words, employees will have the motivation to put forth a strong effort, if: They believe the effort will give them positive recognition. (This is called the â€Å"effort-performance† relationship.) That positive recognition must then lead to some kind of desirable reward, such as more money or an increase in status or power. (This is called the â€Å"performance-reward† relationship.) That reward must also be something that fulfills a personal goal for the employee. (This is called the â€Å"rewards-personal goals† relationship.) All three components need to be present for an individual to exert the kind of effort needed to be considered an intense motivation for action and performance of a duty or task. Lets consider the following example: A company that produces a high quality audio products has recently introduced a new production process in an effort to help the employees meet a goal of high production standards. Supervisor As team of employees are not doing well with the production process. Some do not strive to master the process, those that have mastered it are not putting forth effort to reach the goals, and even top-producers dont seem interested in achieving the goals. After speaking to some of Supervisor As team, Supervisor B has discovered that the following concerns are expressed by the team: Some do not feel they can be successful because they believe lack the dexterity needed to implement the process. Some feel that it is not worth the putting forth the extra effort to reach the goals because there is no difference in salary increase for those that meet the goals and those that do not. They believe that performance has to be very slow before it affects the rate of pay. They also say that when a bonus is given, after the withholdings are taken out, the bonus is so small that overtime actually is seen as better way to earn more money than trying to earn a bonus. This scenario lends itself to the perfect situation to implement the expectancy theory of motivation. The employees feel: That there is no recognition for achieving the goal. That there is no reward for achieving the goal. Since there is no recognition or reward, there is no opportunity for employees to evaluated their personal goals to see if reaching the performance goal will help to fulfill a personal goal. The company could implement the expectancy theory by enacting the following steps: Create a specific recognition for those that master process. For those that master the process bonuses can be implemented that exceed those monetary rewards that overtime would bring. Personally interview each employee to discover what their employment goals are and create a personalized plan to reach those goals, make mastering the process one of those steps needed to reach the personal goal. This plan would address all three components of the expectancy theory. However the plan should not be created as one-time policy implementation. Rather it should be tested and evaluated to discover what rewards and recognitions created the most effective levels of motivation. [ i ]. Robbins, S. P., Judge, T. A. (2007). Organization behavior. (12 ed., p. 208). Upper Saddle River, NJ: Pearson Education, Inc.

Navajo Tribe Issues Essay -- American History Native American

Residing in the Southwest United States, the Navajo Indian tribe is one of the largest tribes in America today. In their own language, they refer to themselves as Dinà © which means â€Å"the people†. They are an old tribe with descendants tracing their roots back to the thirteenth century. The first contact that the Navajos had with white settlers was during the Mexican American War in 1846. The United States conducted peaceful relations with the Navajo for over fifteen years. Forts were built to help protect the Navajo from Spanish/Mexican raids on the Navajo’s cattle. Eventually, a new military commander, James H. Carleton, was named in New Mexico and he began to raid Navajo lands with a vengeance. He ordered the Navajo to surrender. When the majority of the Navajo refused, their crops were destroyed and they were forced to leave their lands in what is called ‘The Long Walk’. They were forced to a reservation in Fort Sumter, New Mexico some 300 miles away. The reservation failed because it was designed to support four to five thousand but there were nine thousand Navajos that were displaced onto the reservation. Finally a treaty was developed that included parts of their homeland as the reservation and the Navajo were then allowed to return to the new reservation. For the most part, the Native Americans prospered with a few skirmishes from white settlers. The prosperity didn’t last as the U.S. government decided that the Navajo cattle were overgrazing the land. Immediately, over eighty percent of all the livestock was exterminated in what was called ‘The Navajo Livestock Reduction’. This was a low blow to the Navajos, culturally and economically. The government then started to try to mainstream the Navajo tribe by placing childre... ...28, 2010, from http://jn.nutrition.org/content/127/10/2114S.full The Navajo Nation - Services Page. (n.d.). The Navajo Nation - Home page. Retrieved November 27, 2010, from http://www.navajo.org/services.htm#news The Technology Opportunities Program. (n.d.). National Telecommunications and Information Administration. Retrieved November 28, 2010, from http://www.ntia.doc.gov/otiahome/top/index.html World Facts and Figures - GDP per capita by country. (n.d.). World Facts and Figures. Retrieved November 28, 2010, from http://www.worldfactsandfigures.com/gdp_country_desc.php Yurth, C. (n.d.). The Navajo Times Online - Education: For 40 years, an Indiana University program has provided dedicated teachers to Navajo. navajotimes.com - The newspaper of the Navajo People. Retrieved November 28, 2010, from http://www.navajotimes.com/education/2010/0810/081910teach.php

Globalization Test Questions

Chapter 1 Expanding abroad: Motivations, means, and mentalities True/False 1. The largest MNEs are equivalent in their economic importance to less developed economies such as Tanzania, Estonia or Sri Lanka. Answer: False (Sales of the largest MNEs exceed the GDPs of less developed countries. ) Difficulty: Easy Page: 4 and Table 1-1 on page 3 Topic: MNE scope and influence 2. The process of internationalization followed by most firms is usually well-thought out in advance and typically builds on a combination of rational analysis, planning and implementation.Answer: False (It is more likely a combination of rational analysis, opportunism, and luck. In regards to opportunism, several studies have found that most firms begin exporting due to an unsolicited export order. ) Difficulty: Moderate Page: 9 Topic: Internationalization process3. A joint venture is a contractual mode of foreign entry involving a high level of resource commitment by all partners. Answer: False (A JV will not typically require as high a resource commitment as we would see in wholly owned subsidiaries. In addition, there is significant variability in the level of resources contributed by partners. ) Difficulty: Moderate Page: 10 Topic: Foreign entry mode4. Emerging motivations for internationalization include the desire to enhance the firm’s competitive position and the desir e to develop global scanning capabilities. Answer: True Difficulty: Easy Page: 6-7 and ppt slide 1-6 Topic: Motivations for internationalization5. For an MNE to exist, first foreign countries must provide location-specific advantages to attract the company to invest there, second the company must have ownership-specific advantages that counteract its liability of foreignness, third the company must have the organizational capability to leverage its strategic advantages more effectively internally than externally. Answer: True Difficulty: Moderate Page: 7-8 Topic: Prerequisites for internationalization6. An MNE with a ‘multinational perspective’ will typically be managed as a coordinated federation. Answer: False (It will typically be managed as a decentralized federation. ) Difficulty: Moderate Page: 11-12 and ppt slide 1-13 Topic: The evolving mentality: international to transnational7. An MNE with a ‘global perspective’ will typically manage its operation s centrally. Answer: True Difficulty: Moderate Page: 12-13 and ppt slide 1-13 Topic: The evolving mentality: international to transnational8. An MNE with a ‘transnational perspective’ will typically be managed as an integrated network. Answer: True Difficulty: Moderate Page: 13-14 and ppt slide 1-13 Topic: The evolving mentality: international to transnationalMultiple Choice9. Which of the following correctly describes the sequential evolution in management thinking with respect to the strategic role of foreign operations in emerging MNEs? a. global mentality, multinational mentality, international mentality, transnational mentality. b. international mentality, global mentality, transnational mentality, multinational mentality. c. multinational mentality, global mentality, international mentality, transnational mentality. d. international mentality, multinational mentality, global mentality, transnational mentality.Answer: d (a, b, and c are incorrect because, although they describe the different ways of management thinking regarding the strategic role of foreign operations in emerging MNEs, they do not describe the evolution of this thinking in the correct sequence. ) Difficulty: Moderate Page: 11-14 Topic: Evolving mentality toward strategic role of foreign operations10. A franchise, such as McDonald’s, is a _________ mode of foreign entry. a. low commitment, low control b. low commitment, moderate control c. low commitment, high control d. moderate commitment, moderate controlAnswer: b (a, c, and d would describe indirect export, contract manufacturing, and joint venture foreign modes of entry respectively. ) Difficulty: Moderate Page: 10 (figure 1-2) Topic: Foreign entry mode11. A joint venture is a _________ mode of foreign entry. a. low commitment, low control b. low commitment, moderate control c. low commitment, high control d. moderate commitment, moderate control Answer: d (a, b, and c would describe indirect export, franchise, an d contract manufacturing foreign modes of entry respectively. ) Difficulty: Moderate Page: 10 (figure 1-2)Topic: Foreign entry mode12. Pashpa Co. is a new manufacturer of home appliances. Pashpa wants to go international. Some of the traditional motivations for pursuing internationalization include: a. securing key supplies, seeking new markets, and raising global scanning and learning capabilities b. securing key supplies, seeking new markets, and improving competitive positioning c. securing key supplies, seeking new markets and accessing low-cost factors of production d. securing key supplies, improving competitive positioning, and accessing low-cost factors of productionAnswer: c (a, b, and d are incorrect because ‘raising global scanning and learning capabilities’ and ‘improving competitive positioning’ are not traditional motivations for pursuing internationalization, they are emerging motivations. ) Difficulty: Moderate Page: 4-6 Topic: Motivations f or internationalization13. One motivation behind internationalization is to sustain the firm’s competitive position. To pursue a sustainable competitive position relative to its rivals in the athletic clothing industry, Nike attempts to: a. reempt markets, capture global scale, and secure raw materials b. capture global scale, access scarce knowledge, and match competitors c. match competitors, capture global scale, and preempt markets d. exploit factor cost differences, preempt markets, and match competitors Answer: c (a, b, and d are incorrect because ‘securing raw materials’, ‘accessing scarce knowledge’, and ‘exploiting factor cost differences’ may give a company a temporary competitive advantage but not a sustainable competitive advantage. ) Difficulty: Hard Page: 4-7Topic: Motivations for internationalization14. _________ suggests that in the first stage innovations are produced in the home developed country; in the second stage th ey are exported to other similarly developed countries; in the third stage, they start being produced in these developed countries; in the fourth stage they start being produced in low-wage developing countries. a. Vernon’s product cycle theory b. Johanson and Vahlne’s stages theory c. Dunning’s eclectic theory d. Levitt’s globalization theory Answer: a Difficulty: Moderate Page: 5-6, 8 Topic: Motivations for internationalization15. Which of the following constitutes a list of foreign entry modes that involve the MNE to make a foreign investment a. Greenfield, acquisition, joint venture and capital participation b. Greenfield, acquisition, joint venture and license c. Franchising, acquisition, joint venture and capital participation d. Greenfield, acquisition, cooperation agreements and capital participation Answer: a (Licensing, franchising, and many forms of cooperation may not entail an MNE making an investment. Difficulty: Easy Page: 9-10 Topic: Forei gn entry modes16. OfficeWare Corp. is an MNE that produces and sells office equipment. If the company’s CEO employs a ‘global mentality’ toward the strategic role of the company’s foreign operations, then we would expect that OfficeWare: a. regards its overseas markets as a portfolio of local opportunities. b. leverages its domestic capabilities worldwide. c. regards the world as a single unit of analysis. d. simultaneously responds to local needs, global demands and cross-border learning opportunities.Answer: c (a, b, and d would represent multinational, international, and transnational mentalities respectively. ) Difficulty: Moderate Page: 11-14 Topic: The evolving mentality: international to transnational Essay17. The CEO of Paragon Ltd. wants to take his company international. What are the three big questions he must answer before expanding abroad? Answer: The three questions this CEO must answer before expanding abroad are: a. What market opportunitie s, sourcing advantages or strategic imperatives will drive the company’s international expansion? . How will the company expand its foreign presence – through exports, licensing, joint ventures, wholly owned subsidiaries or some other means? c. How will the attitudes, assumptions and beliefs of Paragon’s employees impact the probability of the company succeeding in its efforts to internationalize? Difficulty: Moderate Page: 1 (box insert) Topic: Internationalization18. Rana manages an Italian fashion design company. What would motivate Rana’s company to internationalize? Answer: i) Traditional motivations might include: securing key supplies, seeking new markets and accessing low-cost factors of production (e. g. labor, capital, etc. ); (ii) Emerging motivations might include: increasing scale economies to offset significant R&D investments, shortening product life cycles, improving a company’s competitive position and enhancing a company’s global scanning and learning capabilities. Difficulty: Easy Page: 4-7 Topic: Motivations behind internationalization19. Briefly explain the product cycle of personal computers using Raymond Vernon’s product cycle theory. Answer:This theory suggests that early in a product’s life-cycle, all the parts and labor needed to manufacture the product will be sourced from the locale in which the product was invented. As the product is increasingly adopted and distributed in global markets, production gradually shifts away from the point of origin. In some cases, the product ultimately becomes a good that is imported into the country in which it was originally invented. For example, in the case of personal computers, during the new product stage, the computer was produced and purchased by consumers in the United States and little export trade occurred.During the maturing product stage, mass-production techniques were developed and foreign demand (in developed countries) expanded . At this point, the U. S. began to export the product to other developed countries. In the standardized product stage, production moved to developing countries, which then export the product to developed countries. Difficulty: Moderate Page: 5-6 Topic: Product cycle theory20. Briefly compare and contrast the Uppsala Internationalization Model and the Born Global Model. Under what circumstances is each model most applicable?Give examples to support your arguments. Answer: According to the Uppsala Model, companies internationalize in an incremental fashion. Typically, they start by utilizing foreign entry modes that require low levels of resource commitment and low levels of control over foreign activities (e. g. exporting). The model conceptualizes subsequent stages in the internationalization process as requiring higher levels of resource commitment and providing higher levels of control over foreign activities (e. g. wholly owned subsidiary). The experience of Toyota is consistent with the Uppsala Model.According to the Born Global Model, some companies are born global, establishing significant international operations immediately or shortly after the company is launched. These firms do not employ an incremental approach. Instead, these firms aggressively pursue internationalization due to their internal orientation or the need to move quickly due to the nature of their products or services. The experience of many internet companies is consistent with the Born Global Model. Difficulty: Moderate Page: 9-10 Topic: Process of internationalization21.Roy is the CEO of a multinational apparel company. How would he conceptualize the strategic role of his firm’s foreign operations if he possessed a ‘global mentality’? If he possessed a ‘multinational mentality’? Answer: If Roy possessed a global mentality, he would view the world as a single unit of analysis and he would centralize the management of the firm’s foreign operatio ns. Thus, he would drive the firm to create products for a world market and manufacture them on a global scale in a few highly efficient plants, often located at the corporate center.However, if Roy possessed a multinational mentality, he would regard foreign markets as a portfolio of local opportunities and manage his company as a decentralized federation. Thus, he would recognize and emphasize the differences between national markets and operating environments and modify his products, strategies and management practices on a country-by-country basis. Difficulty: Moderate Page: 11-13 Topic: Mentalities toward internationalization22. What is an MNE? Give examples to explain the difference between companies that are considered MNEs and those that are not. Answer:An MNE is a company that engages in the active management of substantial direct investment in one or more foreign countries and that considers those investments/operations as integral parts of the company, both strategically and organizationally. Thus, companies that solely rely on import-export business are not considered MNEs. They may be considered international companies but not multi-national enterprises (MNEs). Moreover, companies that passively manage an investment portfolio (as opposed to those that actively manage foreign assets) are not considered MNEs. Difficulty: Easy Page: 2 Topic: MNE definition23.Briefly compare and contrast the four mentalities toward internationalization. Answer: Companies that have an international mentality produce products for the domestic market and only subsequently sell these products overseas. They transfer innovation and knowledge from the parent company to the foreign operators. These companies view themselves essentially as domestic with some foreign appendages. Companies that have a multinational mentality modify their products, strategies, and management practices country by country. These companies view themselves as nationally sensitive and responsive, thu s the term multinational.Companies that have a global mentality create products for a world market and manufacture them on a global level in a few highly efficient plants. These companies view the world, not just individual national markets, as their unit of analysis. Companies that have a transnational mentality are responsive to country-level operations; however, they coordinate these operations to sustain competitive effectiveness and economic efficiency. These companies view themselves as an integrated network. Difficulty: Moderate Page: 11-14 Topic: Mentalities toward internationalization