Why the Korean War still matters - Free Essay Example

Sample details Pages: 4 Words: 1253 Downloads: 8 Date added: 2019/07/29 Category History Essay Level High school Tags: Korean War Essay War Essay Did you like this example? The Korean War was the first first proxy war that followed World War II in 1950. It contributed to the Cold War and occurred between 1950 to 1953, ending with 5 million casualties and a ceasefire, making it an unfinished war to this day. Americans had little knowledge of Korea until the Cairo Conference in November of 1943 where America, Great Britain, Soviet Union, and China agreed on working to free the Koreans from Japanese occupation. Don’t waste time! Our writers will create an original "Why the Korean War still matters" essay for you Create order In February 1945, at the Yalta Conference, President Roosevelt proposed a trusteeship involving the United States, China, and the Soviet Union which could last twenty to thirty years. In response to this, Soviet dictator Joseph Stalin responded that the shorter the period the better. At the Moscow Conference in December 1945, the United States, Soviet Union and Great Britain proposed trusteeship of Korea and created the Joint Soviet-American Commission, which worked on establishing a provisional Korean democratic government. When attempts to establish Korean independence failed, the United States made another proposal, but the Soviets rejected it, bringing the U.S. to discuss this issue with the United Nations on September 14, 1947. President Truman, who took control of the operation after Roosevelts death, began to worry about communist power spreading so he turned to the United Nations which created the United Nations Temporary Commission on Korea. This commission met in Seoul on J anuary 12, 1948 to enforce elections but again, the Soviets refused to let it cross the parallel to hold elections in the north. The United States supervised free elections in South Korea, in which they were in favor of democracy and formed the Republic of Korea under Dr. Syngman Rhee. Little did they know of the extent that North Korea and Soviet Union were planning for the invasion on the South. This sets the stage for the following actions that would occur during the course of the Korean war. The war became a war for another nation, being more brutal than any nation could imagine. Kim Il-Sung, North Korean dictator, wanted to reunify Korea and believed that the only way was through military defeat of the South. In 1949, the Chinese communists won the civil war in China, which pushed Kim Il-Sung to persuade Stalin to help support the reunification of Korea by military force. Stalin gave his approval, and began working on defeating the United States, United Nation troops, and those who were fighting for the South. On June 25, 1950, the North Korean Army crossed the 38th parallel and attacked to unify the peninsula. President Truman, who was completely surprised of the action, immediately sent the unprepared U.S. Forces to defend South Korea. For the first time, the United Nations authorized the establishment of a multinational force; the U.S. being the primary fighter of the war and twenty other countries contributing to the war effort. The U.N. Security Council called for immediate cessation of hostilities and withdrawal of all North Korean forces to the 38th p arallel. Proposed by Great Britain, the United Nations asked the United States to lead the Unified Command to end North Korean aggression, in which the U.S. accepted and Truman appointed General Douglas MacArthur as commanding general. On November 25th,1950, General MacArthur grew weary and launched a major offensive with intentions to defeat the North Korean forces and end the war in its entirety. [they had problems Though the advance appeared to make headway, American and allied units failed to maintain cohesive lines and often lost contact with one another.] Shortly after midnight on November 25th, the Chinese began their counter-attack. Mao Tse-Tung, Chinese communist revolutionary and founding father of Peoples Republic of China, ordered a massive intervention of Chinese communist forces. This action completely changed the course of the war, and it was no longer a fight between the North Korean and Soviet communists, but between the Chinese. Roughly 300,000 men entered North Korea with violent attacks against the American and United Nation forces, stampeding (?) General MacArthur and fellow troops were completely caught off guard and did not believe that China would openly enter the war. Factors such as the su b-zero weather and overwhelming number of Chinese soldiers, forced the U.N soldiers to withdraw to a line well south of Seoul. On November 28th, MacArthur sent a message to Washington and stated, We face an entirely new war. The Chinese appeared in great and ever-increasing strength. MacArthur wanted the troops to use American air power to attack the Chinese communists, but Truman rejected his plan fearing that the attack would be projected on the Americans and would therefore bring the Soviet Union into the picture of this upcoming war. MacArthur criticized Trumans decision, (quote?) and in response Truman declared MacArthur insubordinate (quote?) and relieved him of his authority as commanding general. In March 1951, the U.N. fought their way back to the 38th parallel under (who is commanding general). In April and May, the Chinese forces launched successive major offensives against U.N. troops. Other conflicts came into play. The conflict turned into a Stalemate that lasted two and half more years. During the two years, fighting was still occurring and the major hold up to the peace negotiations was Prisoners of War (POW). Article 118 read prisoners of war shall be released and repatriated without delay after the cessation of hostilities. However, the communists did not abide by Geneva Convention and refused to submit the list of prisoners held in their captivity and denied access to visit POW camps or even locations of such camps. Both sides had were charged for atrocities against POWs. The U.S. charged that American and U.N. POWs had been starved, subjected to political brainwashing sessions, and randomly executed. U.S. military sources estimated that roughly 38 percent of all U.S. POWs died in captivity. The UN had 150,000 prisoners, more than were on the other side; if it were for an all for all exchanged, the UN feared that the enemies would come back with a massive at tack. Sources also claim that Chinese and North Korean soldiers were caught by South Korean forces and were shot or tortured. They were then pushed into cramped living quarters and fed irregularly with inadequate food. In the UN camp on Koje-do Island, the camp commander was taken prisoner by the POWs and demanded that he issue a public statement about the inhumane treatment of the prisoners. To put an end to the issue of the POWs who refused to make amends, North Korea agreed to a system of UN camps that would keep detainees for three months before the POWs made a decision. Finally, on July 27, 1953, representatives for the United States and North Korea signed the Military Armistice Agreement which would ensure a complete cessation of hostilities and of all acts of armed force in Korea until a final peaceful settlement is achieved. The government of South Korea refused to sign the agreement because a they were outraged that the cease-fire had come without the unification of Korea, but in general agreed to abide by the terms of the agreement which stated that both sides withdrew two kilometers from the border, creating the Demilitarized Zone. By the end of summer 1953, Stalin was dead, MacArthur was relieved of his position, and Truman was no longer president. Losses were immense: 1,000,000 chinese troops, 33,700 U.S. troops, and the total U.N. military deaths that included Americans were 170,000. Nearly 3 million Koreans, mostly civilians and an estimated 5 million refugees were also killed. Despite this, the Korean War is often forgotten, often overshadowed by World War II and the Vietnam War.

History Of Medicine During The Orlando Regional Medical...

My introduction to medicine began when I was twelve, and my grandfather was diagnosed with Alzheimer’s Dementia. At the time, my family had just moved to Florida, while he remained in Puerto Rico. Every visit back was a new rung on the ladder of his descent into dementia, with him remembering less and less of me, my siblings, and my parents. His death came abruptly, but brought catharsis, acceptance, and the celebration of all our memories with him. He is a constant source of motivation and inspiration to become a doctor. My own loss sparked a desire to help others through tough times. I therefore began volunteering at the Orlando Regional Medical Center, where I consoled people going through those times, and let them disclose their feelings with tears and words the way I needed to when I was in their shoes. Unfortunately, I also met people who were dying and had no visitors to support them through their death. For instance, I visited a woman on several occasions and shared a few laughs and stories with her. She ultimately died from C. difficile over a period of three weeks in the hospital. At those moments, I was glad patients like her had someone with them, even if I was a stranger to them. Still, there were much happier occasions where families learned their sons and daughters and parents were alive, recovering, or asking for their company. Through all this, I recognized the fear and pain they felt, and helped them move forward. Care, compassion, and empathy are allShow MoreRelatedBelgium Cultural Analysis Essay4639 Words   |  19 PagesI. Introduction II. Brief Discussion of Belgium’s relevant history III. Geographical Setting a. Location - between France (S) and Holland (N); Germany and Luxembourg (E); and North Sea (W) b. Climate - Belgium has temperate weather, warm in summer (May to September) and cool to cold in winter, with snow very likely. temperate; mild winters, cool summers; rainy, humid, cloudy c. d. Topography - The coastal region, extending about 16–48 km (10–30 mi) inland, consistsRead MoreEquipped for Efficiency: Improving Nursing Care Through Technology12192 Words   |  49 Pageselectronic clinical documentation, and interactive patient systems. When linked with these technologies, alarm/event messaging and biomedical device integration add significant value to the way nurses coordinate and provide care. Because nurses work at the center of a complex web of care delivery, their use of proven technological solutions can have a dramatic impact on hospital operations. This report, based on interviews with nurses and other professionals, describes the challenges that nurses face in everydayRead MoreEvaluating The Use Of The Jewish Faith To Cope Within An6012 Words   |  25 Pagesplan to learn more about the Jewish culture, the Jewish community on the Northside of Indianapolis and explore how the Jewish of this community, or one close to it, feel that their faith is helpful in their management of their healthcare concerns. During the semester, I plan to complete cultural, personal and topic objectives. Most of these tasks will be completed by accompanying Professor Neal, and the undergraduate nursing students, as they visit Hooverwood, a Jewish funeral home, Eva Kor, a holocaustRead More A Strategic Analysis of Walgreens and the Retail Drugstore Industry 17582 Words   |  71 Pagesbe considered a member of the retail drugstore industry requires sales of prescription pharmaceuticals to the end consumer. Many convenience, food and discount stor es sell over-the-counter medicines, but these stores would not be considered retail drugstores because they do not also sell prescription medicines. Relevant Environment Competition: The relevant environment, which consists or interactions between the task environment and task environment, has been changing over the past 25 yearsRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesBrier, and Roy Rosenzweig Also in this series: Paula Hamilton and Linda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David MRead MoreHemp Cultivation in China42289 Words   |  170 PagesCP Amsterdam The Netherlands Clarke, R.C. 1995. Hemp (Cannabis sativa L.) Cultivation in the Tai an District of Shandong Province, Peoples Republic of China. Journal of the International Hemp Association 2(2): 57, 60-65. This paper summarizes the history of hemp (Cannabis sativa L.) cultivation and traditional use in the Tai an District of Shandong Province in the People s Republic of China, and investigates the cultivation and processing techniques currently being employed to produce hemp ribbonRead MoreAn Evaluation of an on-Farm Food Safety Program for Ontario Greenhouse Vegetable Producers; a Global Blueprint for Fruit and Vegetable Producers51659 Words   |  207 Pagesportion of this thesis. This employment also provided me with a unique opportunity to read and digest all the food safety dialogue that was in the public realm, and begin to form some opinions about on-farm food safety policy and implementatio n. During that summer and into the fall I was fortunate enough to be introduced to four individuals who have all acted as mentors to me (whether they know it or not). This thesis would not have been possible if it wasn t for the support and friendship ofRead Morepreschool Essay46149 Words   |  185 PagesCamille Maben, Director, Child Development Division; Cecelia Fisher-Dahms, Administrator, Quality Improvement Office; Desiree Soto, Consultant, and Laura Bridges, Consultant, Child Development Division; for ongoing revisions and recommendations. During the lengthy development process, many CDE staff members were involved at various levels. Additional thanks are extended to members of the Child Development Division: Michael Jett,* Gwen Stephens,* Gail Brodie, Sy Dang Nguyen, Mary SmithbergerRead MoreData, Analytics, and Competitive Advantage14733 Words   |  59 Pagesuse of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.[4] The benefits of all this data and number crunching are very real, indeed. Data leverage lies at the center of competitive advantage we’ve studied in the Zara, Netflix, and Google cases. Data mastery has helped vault Wal-Mart to the top of the Fortune 500 list. It helped Harrah’s Casino Hotels grow to be twice as profitable as similarly sized Caesars andRead MoreInternational Management67196 Words   |  269 Pagesmanagement reflect this dynamism and the increasing unpredictability of global economic and political events. Continued growth of the emerging markets is reshaping the global balance of economic power. Many emerging markets continued to experience growth during a period in which developed countries saw their economies stagnate or decline. The global political environment remains volatile and uncertain, with ongoing conflicts in the Middle East and Africa and continuing tensions in Iran, North Korea, Iraq

Market inefficiencies. A case study of financial recession 2007 Free Essays

string(117) " that stands out as definitely unresolved is the free mobility of stock which is often hindered by liquidity issues\." Introduction 2007 was dubbed the year the current financial recession started. Initially signs developed with the bailout of Northern Rock in August 2007, later to unfold to becoming a world financial crisis. Alarming features of this crisis was the collapse of big investment banks such as Lehman Brothers, Merrill Lynch and Bear Stearns who had to receive bail out plans from the US government in a bid to quickly calm the crises. We will write a custom essay sample on Market inefficiencies. A case study of financial recession 2007 or any similar topic only for you Order Now Discussion of moral hazards was introduced and carrying negative connotations to bailing out the banks (The Economist, 2008). Banks were accused of rashly giving out loans to would be home owners, creating conditions for easy credit on demand. This pattern of easy credit is a consumption lead approach to development and market stimulation. Characteristics of this was recognised when greater demands for housing in the USA lead to sharp raising in property prices along with high rates of interest . Acharya and Richardson (2009) explained behaviours being displayed by the lenders did to transfer the credit risks onto person receiving the loan. The example given was holding an AAA trench, with AAA referring to the classification of the loan while the trench makes notes of risks and liabilities carried with the loan. The crises also developed within the housing market which was not a surprise as most of the firms involved were mortgage lenders in the UK Bradford Bingley and property investment firms in the US, turning into what is now know as the housing bubble burst (Sowell, 2010). The American Government sponsored enterprise of Freddie Mac and Frannie Mae had to be bailed out in a bid to secure nearly $12 trillion of property mortgage (BBCNews, 2008). This was in response to house prices falling house prices and loans were being defaulted on or not being paid. Bailing out Freddie Mac and Frannie Mae played an important role in resorting confidence back into the American housing market. The two large mortgage firms are described as behemoths owning around $5.3 trillion properties within the American market. This is 25 times as big as Northern Rocks responsibilities and twice the size of the UK economy (BBCNews, 2011). Ivashin and Scharfstein (2008) reported large drop in the numbers of new loan s borrowed by 47% during the peak period of the financial recession. Critics blame the severe downturn leading on to the financial crisis on intense speculator behaviours which resulted in inflationary price increases which often lead to question of market efficiency. The efficiencies in this content related heavily on asset pricing in the stock and housing market as explained above. This easy aims to assess how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets. Expressing efficiency Efficiency of the financial market is concerned with the rate and degree in which market information is assimilated into asset prices (Koch, 2007). There are many sources providing market information such newspaper articles that publish daily stock market information and yearly financial review publish by companies themselves. Financial economist regard efficiency as being able to make the best possible investment decision on information provided (Malkiel, 2003). There is a need for information deemed relevant to be cheap and within easy access to parties enquiring for it, these are the condition for information efficiency. Readily available information creates conditions whereby resources can be allocated to get the best possible use out of them allowing allocation efficiency. Based on the conditions of informational efficiency it is possible to gauge if markets operate efficiently. More also if the results states otherwise, it help in providing clues as to what feature of the market are not operating efficiently. Mama (2010) explained, in a study of capital allocation in early 2008 amid the 2007 US housing market, financial crises, Germany exhibited negative correlated stock returns across domestically trade firms. Mama (2010) going into more details explaining it was possible to have an increase in the movement of stock returns. Under this condition explained by Mama it can be concluded that Germany failed to meet allocation efficiency. The aim of the informed decision made is to increase returns in investment by allowing the investors to recognise undervalued stocks. Intensions to achieve higher rates of returns are likely to be covered with a higher rate of risk attached to the investment (Acharya and Richardson, 2009). The problem following this approach is assuming stock markets behaviour is predictable, leading to speculative actions on set of assets and stocks. ‘Random walk’ (Malkiel) suggests, another means to choosing the best possible outcome of share and stock prices, which operates under the assumption the flow of information is continuous and would therefore affect the prices stocks. Therefore, each day’s price is independent of the previous day, in line with news and information. The random walk condition was best suited to describing pricing determinants within during the crises as seen from the need to boost confidence in the market, bring in positive news a method attempted by Portugal in November 2010 (Wise, 2010). Watson and Head (2007) identified the condition necessary for getting a perfect and efficient market. These conditions are base assumptions for creating conditions whereby trades stocks can be traded effectively with minimum limitations. Promotion of free mobility of stocks when buying and selling, which means barriers such as transaction cost and taxes are removed from market trading procedures. All market stakeholders have the same expectations regarding asset prices interest rates and other influencing economic factors. There is free mobility to all who wish to enter and leave the market at will. Information must be free of financial costs to attain and also free to all stakeholders within the market. There is expected to be numerous sellers and buyers, under conditions where no individual interest is able to dominate the market. Conditions leading to the financial crises of 2007 exhibited none if any of these features under the current market function. A Feature that stands out as definitely unresolved is the free mobility of stock which is often hindered by liquidity issues. You read "Market inefficiencies. A case study of financial recession 2007" in category "Essay examples" Another characteristic is the conditions for free market information available with no cost and free to all. Besides the several different sources of information available t the public, participants incur large volumes of financial and time cost in an attempt to have perfect knowledge of market behaviour. Furthermore, the privately acquired information is not freely dispersed into the public for free usage. It is possible for investors to operate under an imperfect market environment. There is a greater need for markets to be efficient instead of being perfect because it creates condition where investors stand to make profits by choosing to invest on stocks at the prices they are give. Under and efficient capital market there is there is expected to be operationally efficient. The condition for operational efficiency dictates transaction cost in the market incurred by investors when moving resources for the purpose of market operations must be kept as low as possible (Dimson and Mussavian, 1998). Within some trade regions of the world this condition was met. The division of most of the world’s trading economies into trading blocs (UNIONS) ensured some features of minimal operational cost incurred when trading. For example countries within the EU and those using the EURO were able to trade under a no barrier policy. For those with the EU it was possible to move resources about without being affected by significant levels of cost through taxes or limits on expenditure, for example UK residents wanting to buy property in Portugal. Furthermore, a France resident wanting to buy property in Portugal is likely to even get lower operational cost as there is no cost incurred when exchanging currency as both countries trade in the same currency. Price Efficiency recommends a fair pricing method for the role of stocks and shares. This requires the pricing of â€Å"capital market to fully and fairly reflect information concerning the past and all events that the market expects to occur in the future† (Watson and head, 2007). Wickens (2006) defined conditions whereby there are two types of asset pricing. Relative asset pricing involves comparing the price of one asset to another, derivatives and bonds are examples of this. Absolute asset pricing operates by relating the price of a stock to fundamentals. Aspects of arbitrage opportunities are expected to be removed, when they appear in the market. This is because within a financial market the existence of arbitrage would lead to increase in competition which wipes out the conditions through increase in price. The competition is by opportunities for investors to gain returns from nothing. This was a dominant feature in the conditions leading the 2007 recession, whereby inv estor were able to exploit differential prices of comparatively similar stock. There was intense level of price speculation based around the property market boom, which imposed strains on the economy globally, With the US homes sales fell across 40 states in 2006 (Whitney, 2007). This was after a 14.3% fall in house prices. Whitney (2007) expressed it was similar condition were present during the 1920s at the beginning of the last global recession. Conditions for allocation efficiency within the market requires strong characteristics of pricing efficiency within the market, it is through that resources can be allocated for the purpose of best use. It is understood that the fair price of an investment needs to be known by investors. Therefore they are able to better understand cost conditions surrounding the decisions made when selecting their investment portfolio. High level of emphasis is placed on information available and the conditions for reaching fair and fully secured prices. From this it is possible to explain market efficiency is heavily dependent on accuracy between speed and quality of information and the rates at which prices adjust. Forms of Efficiency It is possible to find out how shear prices are effect by availability of relevant information within the capital market using empirical tests. In many cases this approach (correlating with pricing efficiency) is used when there is information deficit, due to insufficient data to carry out tests relating to allocation efficiency and operational efficiency. Many of the tests carried out focus on the presence of condition suitable for investors to make abnormal returns on their investment, and to what extent that condition is feasible across the market. Weak form efficiency Weak forms efficiency within the capital market occurs when current shear prices reflect all historical information (Koch, 2007). This means that the behaviours of current investments opportunities follow the same historical movement and price trends. Under this situation, conditions for making abnormal return on investments are forgone when using technical analysis method. Similar results weak form efficiency is also expressed under empirical means and testing. It is expected that shear prices will behave in a random pattern due to information being used arriving at random times and under random circumstances. Semi-strong form efficiency This expresses conditions where all shear prices reflect all historical information and all publically available information (Watson and Head, 2007). Furthermore it is expected that share prices are more responsive to reacting quickly and accurately to securing price as soon as new information becomes available. Under semi-strong efficiency conditions for attaining supernormal returns on investments are still not possible through the use of publically as supported by empirical forms of market efficiency study. Strong form efficiency Markets with strong form efficiency are characterised with share prices reflecting all information, available within public and private domain. This condition describes a situation whereby information is freely mobile and price is very responsive to the arrival of new information. Those with full informational efficiency can make the best possibly decision on allocating their resources to produce the best returns. The condition of efficient information mobility means when situations of achieving supernormal returns arise all participants with the market are aware of it therefore removing the conditions of achieving supernormal profit. It is generally assumed under conditions of strong mobility and information there will not be opportunities for investor to achieve supernormal profit due to high levels efficiency. Investors who achieve supernormal profits through inside information are often prosecuted for inappropriate behaviours. This behaviour is generally a few in occurrence compa red to overall practices within the market (Wickens, 2006). Empirical evidence on real financial markets suggests there are some levels of market efficiency (Koch, 2007); it is possible to argue on the range of these efficient characteristics. In case studies of the financial Market crisis in 2007 most studies find no evidence of superior returns for technical or fundamental analysis (Mama, 2010). However, anomalies do exist and pose challenges for price efficiency. For example, trading at some times of the year can lead to negative or positive returns on investment. This is known as the calendar arising from changes within the market often the result of anomalies. Situations like this lead to question regarding the possibility of predicting future share prices. It is already well know that it is not possible to predict market trends based on past data proven through vast researches and empirical study. There is emphasis placed on analytical tools used for proving efficiency. The use of graphs and charts expressing correlation is regarded as technical analysis. Using this method it is possible to imply there is a relationship between past and future prices which allows condition for investors to make supernormal profits. Other analysis technique is fundamental analysis which proceeds with using public information for the purpose of calculating values of current market. It is important to note, because both form of analysis are interested in finding supernormal returns on investment, they facilitate to increasing the speed in which share prices assimilate new market information therefore, unintentionally creating conditions whereby supernormal returns is prevented from be achieved (Watson and Head, 2007). It is expressed that these analysis create new information during the investigation period which is then added to the overall information available within the market. Conclusion. When relating discussion points expressed in this essay with inefficient market behaviours leading to the 2007 financial crises, aspects that stands out most to causing price inefficiency area information inefficiency with a semi-strong form efficiency which resulted in allocation inefficiency. Information inefficiency was present within the stock market in terms of asset pricing and also within the property market in terms of risk associated with loans being given out to households. There are characteristic explained within The Economist (2008) and Ivashin and Scharfstein (2008) which leads to believe that future projections of market behaviour were not being made. This along with the increase in demand for mortgage (provision of public information) coincides, to demonstrating that large portions of the finance market (excluding those investing in private information) was displaying features more suited to semi-strong efficiency. This assumption correlates with large numbers of hous ehold applying for mortgage loans not having relevant information which is able project plans of the rates of returns expected for individual household. Information deficit for households are often generated from costs incurred when trying to access or compile large volume of information. There is also a risk that the investment of resources for the purpose of attaining market information might not produce favourable returns on investment, a characteristic which is shared by both households and corporate investor. Information inefficiency would mean prices are not secure and fairly. Speculators often take advantage of this situation whereby it is possible to identify differentiated prices from having inside information or private information. Financial market behaviours become more unpredictable (Acharya and Richardson, 2009) risk of affecting decision making are often ignored due to the possibility of making supernormal profits. The financial market will show trends more closely matching allocation inefficiency as decisions are not being made based on the fair prices. The investments carry high risks along with high level of opportunity cost. Opportunity cost demonstrates loss in profits that could be made, under conditions where assuming market prices are secured and the investors were well informed. This conclusion was reached using fundamental analysis assumption along with efficiency condition outlined as aspect of perfectly competitive finance market. Bibliography Acharya, V.V, and Richardson, M. (2009) Restoring Financial Stability: How to Repair a Failed System. [online] (Last updated 2010) Available at: [Accessed on 14 January 2011]. BBCNews (2011) Bank of America pays Fannie Mae and Freddie Mac $2.6bn. BBC News [online] (Last updated January 2011) Available at: http://www.bbc.co.uk/news/business-12108655 [Accessed on 14 January 2011]. Dimson, E. and Mussavian, M. (1998) A brief history of market efficiency. European Finance management. Wiley online. Vol 4 (1), page 91-193 Ivashina, V., and Scharfstein, D, (2010) Bank lending during the financial crisis of 2008. Journal of Financial Economics, Elsevier Vol 97 (3), Pages 319-338 Koch. A, K. (2007). Empirical Evidence on Asset Pricing Theories and Market Efficiency. Department of Economics, Royal Holloway, University of London, [online] (Last updated December 2007) Available at: [Accessed on 14 January 2011]. Mama. H,B, (2010) Information dissemination, market efficiency and the joint test issue. Books on demand GmbH. Norderstedt Malkiel, B.G., 2003. The Efficient market hypothesis and its critiques. Journal of Economic Perspectives, Vol 17( 1), Page 59 – 82 Sowel, T. (2010) The Housing Boom and Bust: Revised Edition. Basic books. New York The Economist (2008) Call it off. The economist [online] (Last updated November 2008) Available at: [Accessed on 14 January 2011]. Watson, D. and Head, A (2007) corporate finance principle and practice Fourth Edition. Financial times prentice hall. Harlow Whitney. M, (2007). US Housing Market Crash to result in the Second Great Depression. Market Oracle, [online] (Last updated February 2007) Available at: [Accessed on 14 January 2011]. Wise, P.(2010) Euro in crisis. Financial times [online] (Last updated 2010) Available at: [Accessed on 14 January 2011]. Wickens. M (2007) ASSET PRICING AND MARKET EFFICIENCY. University of Athens Department of Economics [online] (Last updated 2007) Available at: [Accessed on 14 January 2011]. How to cite Market inefficiencies. A case study of financial recession 2007, Free Case study samples

Leadership Ever Changing Concept

Question: Describe about the Leadership for Ever Changing Concept. Answer: Leadership is an ever-changing concept that structures a human character in which it leads the group of people connected in term of work and profession. Hence, development of a personal leadership model is necessary for any management student to seek a better control over the workforce. On the other hand, personal leadership model is helpful in develop personal skills and knowledge that are required to communicate with other and influence them to perform well (Scott, Jaffe and Scott, 2015). The three areas of leadership that are focused through my personal leadership development model are Ethics, Teamwork, and Management. I have found these areas to be the key to success for a leader. On the other hand, these three areas of leadership have been identified as core part of leaders life that helps them to develop personal skills and experience to work with a team (Scott, Jaffe and Scott, 2015). Hence, the essay has been prepared to discuss my personal leadership model that focuses on et hics, teamwork and management to develop myself as a quality leader. Through the identification of personal standings, I have identified creditability, communication skills, vision, innovation, traits and strong relationship building as the primary organising ideas of my leadership model based on ethics, teamwork and management. In order to influence the productivity of the workforce, communication skill has been identified as one of the crucial skills for a leadership model. On the other hand, the quality of creditability has been efficiently utilised to convince the subordinates to pursue higher ranks at workplace providing greater responsibility (Engbers, 2016). Apparently, a tactical leader must promote innovation and traits within the leadership model by setting examples to the rest of the employees to be followed. By developing a strong relationship with the organisational subordinates, an efficient leader can influence the performance of the workforce in a positive manner. As far as organising issues are concerned in the personal leadership mod el, employee satisfaction and confidence building can be identified as the two principal drawbacks (Piasecki, Fletcher and Mendelson, 2009). The primary trait that must exist within a leader is the effective communication capability and judgement skills. It is important for a leader to understand his team members and judge their capabilities to provide them with appropriate roles. I must follow certain ethical practices that will help me to develop a better relationship with by team members (Nice, 2008). On the other hand, it is important for me to understand and judge my team mates by continuously interacting with them and conducting a debate session regarding any issues going on in the public or related to work. Furthermore, the regular interaction and understanding of team mates helps to develop good relationship and motivate them to perform better. It further helps in planning the roles and responsibilities that are to be played by each member of the team. Hence, according to me, the primary traits of a leader are to be a jolly person with good interactive skills (Fisher, 2010). Furthermore, the leader must have the s kills of multi-cultural communication, good knowledge of the business and workforce. Finally, an effective leader must monitor the performance of its team mates by continuously interacting with them and sharing their feedbacks and experiences. The leadership model that I have chosen emphasises on establishing a good relationship between a cross cultural team. Furthermore, it aims to manage a diversified workforce that differentiates in terms of practices, belief and moral thoughts. Along with that, the core value of the model to is to improve teamwork by motivating each member to participate in the activities (Fisher, 2010). On the other hand, the model emphasises on respecting individual thoughts and participation in the group activities. Hence, the core value of the model is to establish a good relationship and understanding among the group that will increase the efficiency and productivity of the team. It can be seen that the leadership model focuses on understanding the skills and knowledge of the group members. On the other hand, it helps to observe the thoughts of every member of the group by respecting their feedbacks and implementing their ideas while planning the strategies. According to me, the identified leadership model will develop a strong relationship in the group by honouring individual practices and ideas (Rayner and Adam-Smith, 2009). A regular interaction with the group members regarding personal problems and issues related to work helps to develop better bonding among the leaders and participants. On the other hand, continuous and interactive communication provides solution to major problems that reduces the chances of occurrence of uncertainties while managing a large group (Kouzes and Posner, 2012). Hence, the relationship among the group will be benefited by using the leadership model that focuses on three major areas such as ethics, teamwork and management. The shared values and beliefs governing the workforce are interestingly combined to promote sustainability. Through the identification of the importance of organisational culture within the workforces performance standpoint, management of the firm has created a strong influence on the corporate staffs dictating the level of performance. Moreover, the current administration has promoted innovation in the business strategies so that each of the members of the organisation can communicate a vision leading to organisations long-term success (Aleksander, 2016). Currently, the culture of the organisation promotes sharing information and knowledge among the groups to achieve the overall business objective of the firm. Invariably, effective communication resources such as ICTs have been utilised among the organisation so that the staffs can be identified about their responsibility and contribution towards the success of the enterprise (O'Leary, 2013). Meanwhile, in the existing scenario, the current organisational culture of the firm lacks leadership traits, to say the least. The leadership practiced in my model is seeking to achieve a higher performance of the team members. It aims to develop a good understanding among the group members by regular interaction of problems and issues. On the other hand, the model aims to respect the ethics and moral practices of each member (Rayner and Adam-Smith, 2009). Furthermore, I will use the leadership model to understand and judge the capabilities of my team members in order to allocate them with proper roles and responsibilities. The model will help me to create a flexible work arrangement and develop good relationship with the team members (Leavy, 2012). Hence, it can be said that the model aims to eliminate conflict between the group members and deliver a better team performance. Under the existing circumstances, the current leadership model has been identified as somewhat different from my suitability of leadership model. Understandably, the management of the firm values ethics in their leadership model but pay less attention to teamwork, leadership theory and management ideas (Okoth-Okombo, 2011). Conversely, the current leadership model of the enterprise works on the basis of multiculturalism, traditional philosophy and power of the management. In order to improve the performance standards, the leadership model must identify the effect of human psychology on the job. By promoting intrinsic and extrinsic benefits through performance management system, leaders can influence the performance of the subordinates by a great deal. On the basis of statutory evidence, corporate leadership is not all about showing the power of the management (Earley and Bubb, 2014). By utilising the personal traits of significant leadership style, organisational leaders must set tea mwork and management of the group at highest precedence level. On the basis of classic leadership practices, a professional leader must identify his strengths and weaknesses in managing the business. As far as my standpoint, the best leadership practices have started outside the work environment. In order to apply the leadership model on a personal stance, a leader must identify his obligations and responsibility towards the organisation and its people. For effective management of workforce, credit to the leaders must be shared with the subordinates so that the workforce can be influenced in an encouraging way. By following the social ethics and integrity, a strong bonding must be set up with the workforce so that extra responsibility can be shared with others (Einarsen, Aasland and Skogstad, 2007). Thus, a leader can promote teamwork in the best possible way. By identifying the opportunities to improve, significant staff training and development programmes must be arranged increasing the productivity of the employees. Clearly, by encouraging go od decision-making and avoiding deliberation, a genuine leader can personally apply the art of leadership model for the betterment of the organisation. In leadership model, the susceptibility of power can contribute to the downfall of a leader. In order to develop a sustainable position among the workforce, there are subtle decisions to be taken into consideration for better productivity of the workforce. There is a significant difference between leadership and management that must be highlighted through the identified leadership model of any leader. Apparently, the organising ideas of a leader such as personal traits, vision, creditability and skills must be included within the personal leadership model promoting the best areas of leadership such as ethics, management, and teamwork. Through the identification of latest leadership strategies and concepts, a prominent leader can classify the benefits of interactions with the organisational subordinates for long-term management perspective. Moreover, a strong leader must lead by examples for the rest of the employees to be followed for further sustainability of the organisation. References Aleksander, I. (2016). Managing for Innovation Leading Technical People.J Inf Technol, 1(4), pp.61-62. Earley, P. and Bubb, S. (2014).Leading and managing continuing professional development. London: P. Chapman. Einarsen, S., Aasland, M. and Skogstad, A. (2007). Destructive leadership behaviour: A definition and conceptual model.The Leadership Quarterly, 18(3), pp.207-216. Engbers, T. (2016). Student Leadership Programming Model Revisited.Journal of Leadership Education, 5(3), pp.1-14. Fisher, K. (2010).Leading self-directed work teams. New York: McGraw-Hill. Kouzes, J. and Posner, B. (2012).The leadership challenge. San Francisco: Jossey-Bass. Leavy, B. (2012). Updating a classic formula for strategic success: focus, alignment, repeatability and leadership.Strategy Leadership, 41(1), pp.18-28. Nice, D. (2008). The warrior model of leadership: Classic perspectives and contemporary relevance.The Leadership Quarterly, 9(3), pp.321-332. Okoth-Okombo, D. (2011).Challenging the rulers. Nairobi, Kenya: East African Educational Publishers Ltd. in partnership with Community Aid International. O'Leary, D. (2013). Leading, managing and developing people.Action Learning: Research and Practice, 10(1), pp.79-83. Piasecki, B., Fletcher, K. and Mendelson, F. (2009).Environmental management and business strategy. New York: John Wiley. Rayner, C. and Adam-Smith, D. (2009).Managing and leading people. London: Chartered Institute of Personnel and Development. Scott, C., Jaffe, D. and Scott, C. (2015).Managing change at work. Menlo Park, Calif.: Crisp Publications.