Company collapses essays

Company collapses essays Over the years, there have been many situations where companies have decided to inaccurately alter its reporting of costs and measurement of revenue in order to achieve a greater level of profitability on paper. This may have come as a result of the increased level of competition within businesses, which also brought about changes within organisations in general, with organisations looking to new costing systems such as Activity Based Costing (ABC) as a means to increase their levels of efficiency and profitability. Traditional costing systems were seen to be highly inaccurate due to the large focus on labour intensive jobs, however as of late, with the move to less labour intensive focused jobs, it has highlighted the importance of the management and accountants role in reporting costs and measuring its revenue accurately and timely. Although there are no enforceable rules, management and accountants are expected to present a true view of the business financial position, in order to provide those involved with the organization a outlook on the state of the business and the level of profitability. With HIH not recording a great level of its costs, and including revenue in which it shouldnt have, this led to a great outlook on the organisations financial position in which it really didnt have. Although this was good in the short run, it eventually led to the collapse of the business, because the way in which costs were reported, and revenue was measured was not acceptable. Critically evaluate this statement: Since there are apparently no enforceable standards and rules for management and cost accounting, whatever the company and accountants want to do in reporting costs and revenue measurements must be acceptable. Evaluating the above statement requires an in-depth look at the main features of the subject which include management and cost accounting. This essay attempts to highlight the...

Comedy Literary Devices Essay Example

Comedy Literary Devices Essay Example Comedy Literary Devices Paper Comedy Literary Devices Paper Essay Topic: Literature Comedy is a literary work, especially a play, which is light, often humorous or satirical, and ends happily Characterization is the device used by an author to develop a character through (1) what that character says and does, ( 2 ) what other people in the story say about him/her and how they react to him/her, and (3) what the author reveals directly or through a narrator. Stereotype character A flat character who possesses expected traits of a group rather than being an individual Flat character A character who is not well developed, not complex Round character A well-developed, complex character Static character A character who does not change throughout the story Dynamic character A character who undergoes a change during the story Foil character A character who is in direct contrast to another character External conflict the struggle of a character against an outside force, such as fate, nature, society, or another person Internal conflict a characters conflict with himself/herself Verbal irony when the speaker or writer says one thing but means something very differentoften opposite of what is said (sarcasm) Situational irony what actually happens is opposite of what is expected or appropriate Dramatic irony occurs when the audience or the reader knows something important that the character does not know Juxtaposition placing dissimilar items, descriptions, or ideas close together or side by side, especially for comparison or contrast Hyperbole obvious and intentional exaggeration. Understatement The opposite of hyperbole, an understatement says less than is intended. Understatement usually has an ironic effect, and sometimes may be used for comic purposes Oxymoron Two contradictory words used together, as in sweet sorrow, original copy, or jumbo shrimp Alliteration the repetition of the same sounds, such as Sally sells sea shells Onomatopoeia words that sound like what they mean, such as plop Diction The writers choice of words. Diction expresses tone. Tone a writers or speakers attitude toward the subject Theme the underlying message of the story; the central idea behind the story; an expression of the authors attitude Figurative Language Words or phrases that mean something other than what they literally say. Simile Figurative language that makes a comparison between two things, usually using like or as Metaphor Figurative language that makes a comparison between two things without the use of such specific words of comparison as like, as, than, or resembles Personification Figurative language in which an object or animal is given human qualities Farce a comedy characterized by broad satire and improbable situations Satire a type of writing that ridicules the shortcomings of people or instructions in an attempt to bring about a change Foreshadowing the use of hints and clues to suggest what will happen later in a plot Drama a play Allusion a reference to another literary work, a myth, a historical figure or event Fiction An made-up story, whether in prose, poetry, or drama (fake) Non-fiction prose writing that presents and explains ideas or that tells about real people, places, objects, or events (not fake) Prose ordinary form of written language, opposite of poetry Poetry written in lines and stanzas, opposite of prose Imagery description that uses any of the 5 senses Mood the emotional feeling of a story, often created through imagery

Cash Reconciliation Assignment Example | Topics and Well Written Essays - 250 words

Cash Reconciliation - Assignment Example This error will result to the bank statement having highest figure as compared to the cash account by $ 150. This error is reconciled by adding the $ 150 to cash account. The third error the bookkeeper recorded a payment of $ 250 as $ 25 from customer, but the bank noticed the error and deposited the right amount. With this error the bank statement will reflect a high balance than what the cash account reflects. This error can be reconciled by the bookkeeper adding $ 225 which is the difference of she received and what she recorded. The fourth error was committed by the bank when they were clearing a check of $ 255 but instead cleared $ 225. This error will result to the bank statement reflecting a higher balance as compared to what is being reflected on the company’s books of account. This can be reconciled by the bookkeeper adding the difference of $ 25 to the cash account. The fifth error the bookkeeper wrote a check of $ 369 but recorded $ 396. This will have an impact on the cash account since it will reflect a lower balance to that reflected by the bank statement. This error can be reconciled by adding the difference of $ 27 to the cash

Allowabe size and configuration of sidewalk cafes in NYC Essay

Allowabe size and configuration of sidewalk cafes in NYC - Essay Example They have been instrumental in giving feasible solutions to idealized proposals of cultural entities and the government. Architects are instrumental in responding to the concerns of both the commercial entities and the public in giving an integrated policy (Loukaitou-Sideris & Ehrenfeucht, 2009). In addition, cultural forces have agitated for a traditional architectural setting whereby culture is integrated into daily activities. This calls for sidewalk spaces that can allow for setting of public emblems and interaction. On the other hand, commercial activities constrain the growth of culture in towns. Academics have complained of the sidewalk policy as ignoring the preferences of the public and consumers. It also ignores the concept of free markets whereby commercial activities control the space in which they operate in the same (McEachern, 2008). This criticism rides on the idea that the government and academics make assumptions of problems in the city. This ignores the feelings of the public of whom the changes are made for the same. This suggests that the public should push for proposals of improving their interests in the city. In this sense, the public pulls away the stake from the academics. Other critiques herald the policy as one-sided since it only concentrates on the public and constrains the growth of small businesses (Kleniewski & Thomas,

Andy Stern’s A Country That Works Essay Example for Free

Andy Stern’s A Country That Works Essay The president of the largest, Andy Stern, fast-growing and dynamic union in North America named SEIU or Service Employees International Union has just recently launched his new book and even conducted a nationwide tour just to promote it. The SEIU president’s new book which is entitled â€Å"Getting America Back on Track: A Country that Works passes judgment on the union of laborers or workers which are present or established nowadays because they have not adjusted or conformed to the current political landscape. Furthermore, he disapproves on the labor unions failure to bring the workers together and unite them on a common goal. Andy Stern in his books lays out a plan that he believed would refurbish or repair the current tax system. Furthermore, the plans that he proposed aimed the transformation of the health care system and fix the retirement system. His new book also includes certain strategies or arrangements to improve the current existing education. Andy Stern’s book is basically concern with the decline of the United States trade union movement. Andy Stern is aware that economy is changing and that there is a great mass of working class that requires equality. The economy is changing by shifting the power more towards those in the authorities and less to the working class. Furthermore, there is a decline or decrease in the rate of private sector unionization and reached the lowest level even before the year 1900. In addition to this, as economy changes and the power shifts to an inequality, the role of the labor in the economy is also changing. As the occurrence of mass protests, especially those that come from the immigrant workers in the United States, and the worker or labor strikes and protests conducted in France continues to increase, the losses which the companies or corporations incur also increases. As the labor tends to slow down, the process and company’s working time decreases and productivity is affected. Andy Stern’s new book is actually not directly aimed at the workers. Furthermore, it does not also include the advancement of any serious strategy in combating the present or occurring corporate assaults on the jobs of individuals and most especially to the living standards. On the other hand, the book is able to inform or give a certain warning to the administrators in the corporate world and the ruling elite. It warns them that if the unions who have worked hard and served the corporate world, more especially in America for already a long period of time, is allowed to collapse, there would be serious and dangerous social upheavals. Furthermore, it gives a forewarning that these social upheavals, if it goes outside the control of those in power or of the labor bureaucracy, would greatly increase. The labors which are organized should be in an innovative position as to create new leadership and perspectives. In the old days, manifestations from the labor unions are mainly expressed through strikes and workers tend to stop from working. This is not a good habit for it does not only incur losses to the corporations but also to the workers as well. Being laid-off from work could also be a problem in the old ways, especially if a union continues to ask its members to do strikes or constant protests. The new organized labor should innovate or reinvent itself to create more ideas in creating solutions to the root of the problem. There would be no serious struggle against the present social inequality if the organized labor’s old ways continue to be of practice. It is therefore necessary or required that the labor union would create or establish an independent political and socialists movement that is composed mainly, if not solely, of the working class. On a different perspective, it can be noted that it is impossible not to understand and be familiar with the effect no matter the degree or even if it was immense, of the increasing productions made by the transnational corporations. It is also impossible to recognize what globalized productions could do with regards to the old labor organizations. On the other hand, acknowledging this fact and be able to create ways of moving forward through a progressive answer are poles apart. According to Andy Stern, the country or the United States labor bureaucracy could outsource the strikes conducted by the labor unions or workers. He stated that the country could give the workers who are in strike a certain â€Å"pay strike† especially in low wage countries. Furthermore, he believed that this could be an alternative in calling out its own members on strike, would eventually reduce the number of strikes conducted by the labor unions. If the workers or labor unions are ready in conducting strikes in the United States and the companies or corporations would also be ready in paying them to strike, then there would be an increase in the losses incurred. It would be very much costly as to when a pay was not given to those who would go on strikes. But, paying the laborers in India, Indonesia or other places to conduct strikes and protests against the same global employer would incur less loss and is basically not that expensive. These assumptions are however blunt and has a mark of certain arrogance to it. It should be noted that an international working class movement should have its grounds on a plan or an agenda that ensures mutual solidarity in achieving liberation for all. It is not good to use workers from other countries to serve as pawns in achieving a narrow and constricted national interest. The final chapter of Andy Stern’s book includes his proposals for the reordering of the society. From his proposals, it could be analyzed that here is none that goes beyond the milk toast reforms which are pressed forward by the sections in the Democratic Party. In addition to this, it can also be noted that his proposals have no chance of being adopted or accepted because the big businesses or corporations do not want any infringement on its profits. These measures which Andy Stern stated were supported by another proposal that he made. He proposed to the capitalists and even to their political representatives that these are under their best interest. Though on the other hand, it may somehow state a conscious duplicity or self-deception and cynicism vaguely. In some cases, cynicism somehow dominates. Andy Stern has some dulled statements which support these points of view and somehow admit that the labor bureaucracy’s alliance together with the Democratic party is worthless or hollow. The statement is somehow correct, in the point of view of an individual who understands through politics or capitalist politics. But in the point of view of a political struggle in general, that statement is basically incorrect. Andy Stern, in some parts of his book, is able to write or create reactionary conclusions which are basically based from the right or proper observations. He puts forward or suggests addressing the incapability, generally the failure, of the labor unions’ alliance with the Democratic Party. On a different point of view, it can be said that this only puts the labor unions in forming closer ties with the Republicans. Generally, Andy Stern’s book, from one chapter or part to the other, is really thought-provoking as to what methods or proposals should be really followed.

Strategic Importance of Knowledge Management Essay -- Philosophy Knowl

Strategic Importance of Knowledge Management Today the world has more and more of free flow of information leading to transfer of knowledge from a person or an organization to others. Whereas this invariably leads to faster development, it also impacts the competitive advantage held by the innovators of processes or technology. It has therefore become strategically important for one and all in business to understand the knowledge, processes and controls to effectively manage the system of sharing and transferring the information in the most beneficial fashion. This paper dwells upon definition, types, scope, technology and modeling of knowledge and Knowledge Management while examining its strategic importance for retaining the competitive advantage by the organizations. What is knowledge? Plato first defined the concept of knowledge as ‘‘justified true belief’’ in his Meno, Phaedo and Theaetetus. Although not very accurate in terms of logic, this definition has been predominant in Western philosophy (Nonaka and Takeuchi, 1995). Davenport et al. (1998) define knowledge as ``information combined with experience, context, interpretation and reflection''. The terms ‘‘knowledge’’ and ‘‘information’’ are often used inter-changeably in the literature and praxis but a distinction is helpful. The chain of knowledge flow is data-information-knowledge. Information is data to which meaning has been added by being categorized, classified, corrected, and condensed. Information and experience, key components of definitions of knowledge, are put into categories through the process of labeling with abstract symbols. This allows the process of synthesis to occur more efficiently than when dealing with masses of individual bits of information. Information coded into symbols to make it â€Å"knowledge† may be stored both inside and outside the individuals. Thus, knowledge may be stored within a person in his mind or outside the person in books, manuscripts, pictures, and audio and videotapes or discs. However, while only the individual himself may retrieve knowledge stored within his mind, kn owledge stored outside can be retrieved by anybody familiar with the storage systems. In organizations, knowledge is often embedded not only in documents and presentations but also in â€Å"organizational routines, processes, practices, and norms,† and through person-to-person cont... ...ress, New York, NY. Schultze, U. and Boland Jr, R.J. (2000), ‘‘Knowledge management technology and the reproduction of knowledge work practices’’, Journal of Strategic Information Systems, Vol. 9, pp. 193-212. Stoner J.A.F., Freeman R. E. and Gilbert D.R. (2004): Management, Pearson Education, U.K. Swan, J. and Newell, S. (2000), ‘‘Linking knowledge management and innovation’’, in Hansen, H.R., Tissen, R., Andriessen, D. and Depres, F.L. (2000), The Knowledge Dividend, Financial Times and Prentice Hall, London. Van Buren, M. (1999), ‘‘A yardstick for knowledge management’’, Training and Development Journal, Vol. 53 No. 5, pp. 71-8. Wagner, E. (2000), ‘‘Communities of practice: the structure of knowledge stewarding’’, in Despres, C. and Chauvel, D. (Eds), The Present and the Promise of Knowledge Management, Butterworth-Heinemann, Boston, MA, pp. 205-24. Wheelen T.L. and Hunger J.D. (2004): Strategic Management and Business Policy, Pearson Education, U.K. Winter, S.G. (1987), ‘‘Knowledge and competence as strategic assets’’, in Teece, D.J. (Ed.), The Competitive Challenge: Strategies For Individual Innovation and Renewal, Ballinger, Cambridge, MA, pp. 159-84.

Ethical Impacts of the Internet on Children and Teenagers Essay

As the use of internet dominates every activity in the global market, its use in homes and schools has exponentially grown raising concern on its ethical effect on children and teenagers. The nature of the youngsters’ use of internet has generated heat and anxiety among the general public as the society calls for ethical and moral guidelines that would protect children and teenagers from negative effect of the internet. This paper proposes a research that will identify the effect of internet use among the young people as the academic and policy importance concerning the opportunities and dangers of internet use continue to be raised. The paper identifies these opportunities and dangers as it proposes the methodology and limitations for the research paper. 2. 0 Introduction 2. 1 Background Internet which slowly started as a network for military officers in the cold war eventually became an important tool in the academic corridors and today the former â€Å"Arpanet† has greatly grown to become the primary platform for communication and interaction for different communities around the world. As the Internet traffic hit millions of users each day the communication technology continue to grow to allow for infinite information access and instant interaction by users, a fact that has brought about a social paradigm shift in the way societies used to live in the earlier days. This technology has particularly been embraced by children and teenagers as a way of learning, socializing and leisure. In the developed countries and many other regions around the word, internet access has ceased to being a trademark for the privileged members of the society as its use in the workplace, education institutions and leisure places continue to grow exponentially. As the use of computers and internet become more and more entrenched in our day to day routine practices, it has become a basic feature not only in the offices but also at our homes. The presence of internet at our homes has opened up a â€Å"super highway† to children and teenagers who are being referred to as the â€Å"digital generation† that incidentally predisposes them to overwhelming information and social sites that may contribute heavily in shaping their behavioural patterns. Whereas internet offers a perfect educational platform for the young people, it is also seen largely as a risk factor that could expose them to adult sites, make them more addicted and dependant on the internet and eventually instil anti-social behaviour in some of them. While this issue demands a critical stance given the consequences it has on the future generation, very little independent researches has been conducted to inform the policy makers and end the growing public anxiety. In most of the researches conducted in the recent past only a few have focused on the social consequences of the internet among the children and teenagers. The households with children or/and teenagers that have access to the internet is however more common than those without (Wigley and Clacke, 2000). 2. 2 Research Objectives The main objective of the proposed research project is to explore the impact of the internet on children and teenagers based on the expected social, cognitive and behavioural patterns in the society. The research project will aim at identifying issues that deviate from the laid down expectations both at school, home and in the society which find their root from the internet. 2. 3 Research Question The proposed paper will focus on answering the following primary question; †¢ What are the ethical impact on the use of internet among the children and teenagers? To effectively explore the primary research question the following secondary questions will be analyzed? †¢ What are the children/teenagers perceptions towards internet? †¢ What are the perceptions of the parents whose children are using internet at home or/and school? †¢ What are the important contrasts in internet activities from what is expected to what is actually practised? †¢ What are the possible impacts of these struggles between the theoretical and practical internet activities on children/teenagers’ social development? 2. 4 Research Significance A study conducted in the UK by Wigley and Clacke (2000), revealed that among the young people aged between 7 and 16 years, 75% of them have used the internet as compared to only 38% from the adult population. This explains that in the contemporary society the young are actually the pioneers of the internet culture. For a long time children and teenagers have also been regarded as a special homogenous object in other studies a fact that has made this category of population marginalised and often left out in researches on the internet. Even in the midst of growing researches on e-commerce and e-democracy very little efforts are focusing on the expanding online market driven by the young people. For these reasons children and teenagers are often left out in technological advancement as the market analysis is evaluated. As the social effects of internet on the young people become obvious in most societies it is becoming more difficult to ignore the subject and therefore many empirical projects on children and teenagers use of the internet are coming up. This makes it appropriate moment in which the research agenda on this category of population must be given priority. 3. 0 Literature Review 3. 1 Nature of Internet Usage Recent surveys reveal that children and teenagers attach high value to the usage of internet to gather information, entertainment leisure and as a medium of communication. According to Valkenburg and Soeters (2001), 73% of the children and teenagers use internet as an education tool, 59% use it for E-mails, 38% to play games, 32% for chatting with friends and 31% use internet as a hobby and an area of interest. The internet has already revolutionized the social patterns of our younger population drastically changing the earlier forms of communication and interaction among the peers. A research conducted by Valkenburg and Soeters (2001), indicates that among most households internet has continued to elicit mixed reaction between the parents and their young ones as it is considered to easily lead the young toward the wrong direction if mismanaged or taken for granted. While the parents praise the internet for its role in availing most of the information that their children would need in pursuit of their education, the children consider the opportunity more as a source of entertainment that gives them a break from the other â€Å"old fashioned† entertainment sources. The tug of war between the parents and children demonstrates an obvious digital generation gap in which children and teenagers who normally acquire and understand new internet skills faster than their parents get transformed into â€Å"family tutors†. The expertise in computer and internet skills among the children gives them a symbolic advantage over their parents that can easily be mis-used in pushing their interests that could not necessarily be approved by their parents. The current researches on the social context in which internet is focusing more in identifying ways and means in which children and teenagers are changing their homes into centres for content production, entertainment and leisure. This fact has in essence brought about new approaches in children’s activities as questions linger on whether learning has become more fun, playing is turning more and more educational and whether online chatting is part of civic participation or a way of withdrawal from the general society. This kind of researches therefore calls for the need to analyse the online content that is most preferred by children and teenagers. This raises a challenge given the large volume of online contents from which one can choose from and the fact that the hypertext content can be actualized by the user. This has in effect discouraged most of the researchers carrying out studies on the impact of internet on children and teenagers. Most of the researches today are however guided by the policy issues that are endeavouring in trying to balance the benefits that the internet offers to the young population against the harm that may be associated with some of the sites. Therefore the key agenda is on how the society in general should ethically conceptualize and balance the benefits and the dangers of the internet on the children and teenagers within there spheres of influence.

Top Ten Characteristics of a Multicultural School Environment

Top Ten Characteristics Of A Multicultural School Environment Not all students are the same so they cannot be taught the same way. Their cultures and experiences the way they learn and respond to schooling. Several cultural factors affect the way students behave in a classroom. Each student is different because of physical and mental abilities, gender, ethnicity, race, language, religion, class, sexual orientation, and age (Gollnick and Chin, p. 6). Multicultural school has different characteristics.I think the most important is the composition of the faculty, administration, and other staff accurately reflects the pluralistic composition of the United States (Gollnick and Chin, p. 7) because this will influence a student’s behavior. The United States has one of the most extensive and diverse educational systems in the world. US population is composed of different races, each with different cultures. I think it would be helpful for a student to study in an environment wherein they value or give respect to different culture. The school environment and the faculty have great impact on student’s development.Because of this, students will be assured that they will not be discriminated. US has a federal legislation for elementary and secondary schools, No Child Left Behind, requires standardized testing of students to determine how effective a school is in helping students to learn (Gollnick and Chin, p. 12). A school is an institution where students learn the value of respecting others, if the faculty, staff and school administration lacks this, and then it can be hard for students with different culture to study and interact with others at school.Second is that the school curriculum incorporates the contributions of many cultural groups and integrates multiple perspectives throughout it (Gollnick and Chin, p. 7). Some people check on a school’s curriculum before they decide on what school they will go. It is important that the school gives val ue to the contributions of many cultural groups. I rank differences in academic achievement levels disappear between males and females, dominant and oppressed group members, and upper-middle-class and low-income students (Gollnick and Chin, p. ) as third because it is also important that students achievement will not be based on their gender, social group or race instead of their knowledge and abilities. With the persistence of racism, poverty, unemployment, and inequality in major social systems such as education, many persons have found it difficult to reconcile daily realities with the publicized egalitarianism that characterizes the public rhetoric (Gollnick and Chin, p. 36).In a multicultural school, students should not experience this, instead, they should experience equality no matter what race, culture, gender or social groups they are involved with. The faculty, administrators, and other staff see themselves as learners enhanced and changed by understanding, affirming, and reflecting cultural diversity (Gollnick and Chin, p. 7). The faculty, administrators, and other staff should be open for changes. They should learn on how to interact on different cultures. They should not be one-sided and be open for some changes because it is a part of life.Teachers and administrators are able to deal with questions of race, inter group relations, and controversial realities on an objective, frank, and professional basis (Gollnick and Chin, p. 7). States and school districts expect new teachers to have proficiencies related to multicultural education by the time they finish a teacher education program (Gollnick and Chin, p. 13). This means, since a teacher is one of the foundation in education, they should be the one to have the skill or proficiency to handle multicultural students.They should use professionalism in dealing with every student no matter what culture they possess. They should be proficient and unbiased in addressing issues raised by students, howeve r making sure that they answer it based on truth. Students are able to use their own cultural resources and voices to develop new skills and to critically explore subject matter (Gollnick and Chin, p. 7). I rank this as seventh because I believed that school is a place where a person develops his own knowledge and skills. The language in which students are taught is one of the most significant issues for schools.Many Americans have become concerned about how best to educate students who are new to the English language and to American culture. As children of all ages and from dozens of language backgrounds seek an education, most schools have adopted some variety of bilingual instruction. Students are taught in their native language until their knowledge of English improves, which is often accomplished through an English as a Second Language program. Cultural differences are treated as differences, rather than as deficiencies that must be addressed in compensatory programs (Gollnick and Chin, p. ). A multicultural school should be fair in giving compensatory benefits for students with different culture. Having different culture should not be a factor in receiving benefits that every student should receive. Instructional materials are free of biases, omissions, and stereotypes (Gollnick and Chin, p. 7). Instructional materials are important in teaching, because these are visualization of what the teacher is teaching. These should be free of biases or stereotyping. Students learn to recognize and confront inequities in school and society (Gollnick and Chin, p. 7).In an environment where there is no discrimination or prejudice, a student will learn how to recognize and confront inequities either in school or society. A multicultural school must teach student on how to address different discrimination. I put this on last because I think discrimination or inequity starts within us. A person must first learn to recognize and confront it inequalities by himself, in ca n be taught on school but experience is a best teacher. BIBLIOGRAPHY Gollnick, Donna M. Chinn, Philip C. 2006. â€Å"Multicultural Education in a Pluralistic Society. † Seventh Edition. Prentice-Hall/Merrill.

The Impacts of FDIs and Trade to the Asian Pacific Regions

The Impacts of FDIs and Trade to the Asian Pacific Regions Introduction The role of foreign direct investment (FDI) and trade in regards to the economic development and growth of various economies across the globe continues to be deliberated and analyzed by business analysts and economic scholars. Consequently, the notion of foreign direct investment (FDI) has improved significantly in recent decades.Advertising We will write a custom essay sample on The Impacts of FDIs and Trade to the Asian Pacific Regions specifically for you for only $16.05 $11/page Learn More As developing economies, mostly in Asia, remove various restrictions and employ policies to attract the inflows of more FDIs, trade and investment in these economies have become more and more related. As such, there has been an increase in the development and general economic growth levels in the Asian continent. However, there are diverging opinions from analysts and economic experts as to the extent to which the FDIs and trade have contributed to the gro wth and development of the Asia pacific region economy. It is therefore to this effect that this paper shall effectively establish the relationship that exists between the FDIs and trade patterns in this region to the economic growth. The contribution of trade and FDIs on the economy shall be discussed and their impacts analyzed. At the end of the paper, a decision shall be made establishing whether the FDIs and trade are the main cause of the development or there are other factors that have contributed to the positive progress experienced in this region. A brief overview on the emergence of trade and FDIs in Asia Most developing countries pursued foreign direct investment (FDI) with great caution until the 1980’s. The existence of multinational corporations (MNCs) within these countries was understood as a threat to national independence and security. In many emerging economies, the indulgence of FDIs especially multinational corporations was a cause of concerns in regards t o their influence on the political and economic trends that existed in the host countries.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As such, such investments were associated with unfair business practices in terms of competition, prices and market share and were considered as a modern form of economical colonialism and exploitation. As a result, many restrictions and policies were put in place to ensure that these corporations found it hard or impossible to venture their businesses in some economies. In recent years, however, many economies have opened their doors to FDIs upon the realization of the benefits that can be accrued from such investments. This move has greatly been influenced by economic globalization, technological advancement, integration of market and production networks on a global level and the establishment of investment treaties all over the world. In add ition to this, poor debt policies and interest rates in developing countries have forced most of them to reconsider their investment policies in a bid to attract foreign capital and capital inflows. To further facilitate this, investment restrictions have been considerably reduced in order to attract FDIs and more incentives and subsidies offered to multinational corporations which have consequently led to the rapid growth of FDIs experienced across the globe within the past 20 years. Impacts of FDIs and trade to the economic growth in Asia According to, Jones Wren (2006, p.8) a foreign direct investment (FDI) refers to the Capital flows from one state to another to bring in a higher return where it is more productive and to branch out the probability of risks. Yi Lee (2002, p. 55) acclaims that the prospective impact of global capital movements is therefore an increase in the world’s output and welfare. However, there exists other potential economic and trade benefits to h ost countries that encourage foreign capital inflows: Statistics indicate that trade and FDIs have contributed highly to the growth and development of the economy in the Asia pacific regions.Advertising We will write a custom essay sample on The Impacts of FDIs and Trade to the Asian Pacific Regions specifically for you for only $16.05 $11/page Learn More This is because the foreign firms that invested in the ASEAN countries in the past 20 years brought with them superior technology new to the host countries which was quickly assimilated by the domestic firms giving them an advantage against other economies which lagged behind in this aspect. The assimilation of such technology has contributed highly to the increase in output from countries like China, Malaysia and Indonesia as well as the quality of products from the regions. Consequently, the almost economically isolated countries like China and Thailand in the 70’s have ever since developed into t he largest economies in the world next to the United States. China recorded an impressive economic growth rate of over 9% in1978-2005. This was the highest economic growth recorded within that period in the world. This achievement has been brought about by China’s espousal of fundamental initiatives promoting inward FDI. In 2004, FDIs in china constituted about 7% of the capital formation, 21% of total tax revenue, 28% of industrial outputs and more than half of the total exports (57%) were created by these foreign invested enterprises (Zhang, 2006, p.2). In this region, the most significant contribution of the FDIs would be the expansion and development of the export markets and systems. The indulgence of FDIs in this region has not only increased the levels of exports but also upgraded the export structures to the world standards. In 1980, China’s exports were 26th in the world ranking with a volume of $18 billion and held a 47% portion of the manufactured goods expo rt markets. These figures have improved immensely after the policy amendments on FDIs and they stood 3rd in ranking with a volume of $762 billion and a 93% export margin on manufactured goods (SSB, 2005). In addition to this, the FDIs have also increased the job opportunities in the host countries. Krueger Ito (2000, p. 347) states that the FDIs offer employment opportunities to the locals thereby improving on the overall standards of living and the effective demand of the people.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This can be reflected through the spending patterns experienced in china in the fourth quarter of 2009 where there the citizens were spending highly despite the economic crisis that prevailed. In addition to this, employment increases productivity and consequently the overall GDP of the nation as portrayed by the economic growth in this region. The presence of FDIs in the Asian countries has also influenced the trade and investment policies in those countries. Most of the corporations investing in this region are green field investments. This means that most FDIs have started their investments from scratch. As a result, they buy most of the materials from the host country and employ from the same. This has led to increased technological transfer and spillovers as well as improved managerial know-how in this region. Inevitably, this has over the years improved the infrastructure, efficiency and innovation in this region factors core to the development and growth of the economy. On th e same note, the foreign investments have over the years aided the Asian countries lessen the foreign exchange gap that has been predominant in these regions. Dickinson Prathet (2000, p. 308) reiterates that growth requires investments and in order to invest, there is need for saving be it domestic or foreign. Foreign exchange is required to transform foreign into domestic resources. The importation and exportation of inputs and outputs to and from the Asian countries have seen the domestic currencies strengthen their values as well as improving the domestic foreign exchange sectors and as a result, fuel rapid economic growth. Trade with other countries has also played a vital role in the rapid growth of the Asian economies. Hong Kong is among the countries that has greatly benefited in the past decade from the exportation and manufacturing of motor vehicles and textile related products to other countries. It is renowned for its great port (3rd largest in the world). The port is st rategically located and is considered as the economic pathway to China and other counties at the Far East of the Asian continent. The presence of this port has attracted more investors into the country due to the close proximity of the export and import vessels. On the same note, other inland countries also use this port to export and import their products making the trade in this country thrive. This has seen the country attract high returns from the port revenue authority as well as from the taxation of the investors; a fact which have facilitated its economic growth over the years. Arguably it has been on the forefront in terms of rapid technological advancement a feat which has seen its economy grow vastly due to the high demand of this technology by economies across the globe. However, there are other factors that have contributed to the growth and development of the Asian pacific regions. This statement can be validated by the fact that Japan has very little FDI corporations w ithin its boarders when compared to the other countries within the Asia pacific region. However, it is the most developed countries with high economic growth levels as well as productivity. This progress can be attributed to the strong financial policies that govern the operations in Japan. Additionally, it is among the leading producers and exporters of globally demanded electronics in the region. This added advantage has enabled the country to grow economically due to ready market for the products on the international markets as well as high returns due to economies of scales (production in high quantities). Other contributing factors include: The favorable political climate and investment policies that prevails within this region. A country like China has a very effective and large police force and according to Transparency International, the corruption and embezzlement levels in this country are more than minimal. It therefore goes without saying that political stability and pro fessional etiquette presents great opportunities to potential and present investors. For example, many investors would never invest in the Middle East simply due to the high risk of loosing their investment to terrorist attacks and general insecurity despite the wealth of resources present in that region. Due to the political stability and high professional ethics in the Asian continent, many employees and investors have ventured into this region with hopes of bettering their livelihoods as well as maximizing on the various opportunities available there. The influx of these investors and manpower has significantly contributed to the growth of the economies located in this region. Additionally, the land policies and location of the industries have enabled equal distribution of resources as well as balanced development within the region. On a social and cultural perspective, the high population in this region has contributed to the economic growth. According to Dickinson Prathet (200 0, p. 275), a high population is very beneficial to the economic growth of a country. This is because it provides constant human labor sufficient for the labor market as well as market for locally and internationally produced goods and services due to a high demand. Additionally, the higher the population, the higher the GDP figures which are used to measure the level of economic growth in a specific country. On the same note, the Asian continent is renowned for its hospitality. This cultural virtue has favored the economies within it in abundance. This can be seen through the tourism sector which thrives in the Asian pacific region as well as the foreign investments in the area. The fact that these countries embrace diversity encourages other people to come in as expatriates or investors and their contribution in these economies are reflected through the growth of these economies. The Asian pacific region is also famous for its regards to the environment. As such, the favorable cli mate has seen it thrive immensely in the agricultural sector. Countries such as Indonesia and Thailand are among the leading producers and exporter of rice, flowers and corn and the revenue received from the agricultural sector contributes a considerable percentage in the GDPs of these economies. On the same note, this has attracted more foreign investors who are interested in the same line of trade. These investors offer employment, market and technology to the domestic citizens and firms thereby improving the economy. Overall analysis From the discussion, we learn that trade and FDIs have contributed highly to the growth and development of the Asian pacific regions. The advantages accrued from such ventures have seen the region rise to a point of recognition amongst other economic giants. The policies and regulations set to regulate such investments and trade transactions have evidently been forthcoming through the influx of investors and consequently foreign capital within the re gion. However, due considerations should be awarded to other political, social and cultural factors that have at the same time favored the existence of the FDIs and trade transactions in the various economies across the region. Jones Wren (2006, p.37)states that progress no matter the magnitude is born of interactions between different variables and as such, the economic progress within Asia can with no doubt be attributed to the correlation and embracing of the various political, social, cultural, economic and technological factors that exist within the continent. Conclusion FDI can play a vital role in industrial development and economic growth in the emerging economies. Although most of the developing countries in the Asian continent have been taking measures to attract FDI, through offering incentive packages and liberalizing the trade system, only a few countries are triumphant in attracting these investors. In this study, we tried to find out the influential factors that dete rmine the growth of the economy in the Asian pacific region. The impacts of the FDIs inflow as well as that of trade to the economy of this region were discussed and other contributing factors highlighted. A brief analysis of the situation was carried out proving that FDIs and trade have indeed contributed to the economic growth enjoyed in this region. However, the countries in this region should work hand in hand to improve the infrastructure and market the region in order to attract more investors and trader. By doing so, they will have marked a spot in the international scene where investors can comfortably set grounds for more development not only for their own benefit, but for that of the host countries. References Dickinson, D G Prathet, T H, 2000. Finance, governance and economic performance in Pacific and South East Asia, Edward Elgar Publishing, 2000 Yi, K Lee, K T, 2002, Globalization and the Asia Pacific economy, Routledge Publishers Jones, J Wren, C, 2006, Foreign dir ect investment and the regional economy, Ashgate Publishing, Ltd. Krueger, A, O Ito, T, 2000, The role of foreign direct investment in East Asian economic development, Volume 9,University of Chicago Press. State Statistics Bureau (SSB), 1993-2005, China Statistical Yearbook 1992-2005, Statistics press Zhang, K, H, 2006, FDI and host countries exports: the case of China, international economics, LVIV, pp. 50-55.

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