The Economic and Financial implication of Globalization on the UK Essay

The Economic and Financial implication of Globalization on the UK Economy - Essay Example Qualitative research generates data that is based on the participants’ own categories of meaning, it is useful for studying a limited number of cases in detail, and tends to collect data in realistic settings (Creswell, 2001).  However, quantitative research method has been adopted for this current study mainly because of the reason that it is the most suitable. The term â€Å"globalization† gained prominence in the 1960s and it began to be extensively applied by economists and other social scientists. The current study has taken into account the output generated in the GDP, rate of unemployment and inflation for instance for a period from 1997-2001. A Chow Test will be performed to check the structural break over the years. The study will specifically deal with time series data in order to check whether there is structural change (parametric instability) in the relationship between the regressand (output and import-export in UK) and the regressor (GDP, technology, Consumer’s Price Index, Producer’s Price Index, rate of unemployment for instance). By structural change, it mean that the value of the parameters do not remain the same for the entire time period (UK Economic Indicators, n.d.). Globalisation is loosely defined as the economic activity taking place across the national boundaries (Buckman 2004).  In essence, globalization sought to liberalize trade as well as deregulate the economy and this particular study seeks to investigate the extent to which deregulation has impacted on the economy of UK. Quantitative methods will be used to collect data in order to ascertain the impact of deregulation on UK economy. During the contemporary era, the concept of globalisation has liberalised trade among nations and Information and Communication Technology (ICT) has substantially changed the ways of doing business. ICT has made dramatic changes in the contemporary society and economy at large and has impacted on almost all businesses

Information Management Essay Example | Topics and Well Written Essays - 1000 words

Information Management - Essay Example There are basically 10 principles that ensure Information Management is done effectively and successfully. These 10 principles make Information Management easy and the organization experiences much better results if they follow these. The 10 principles are: Organizations have very complex environments in which it is necessary to implement concrete solutions. There are a lot of challenges when planning and implementing information management projects. All these challenges have to be over taken. When these complexities arise project teams often try to find easy and simple solutions, which is wrong. In reality complexity cannot be avoided and the easiest way to solve it is to find new approaches to information management that recognize and manage this complexity. Information management systems are only successful if they are actually used by staff, and it is not sufficient to simply focus on installing the software centrally. In practice, most information management systems need the active participation of staff throughout the organization. Meaning that adoption by staff to the information system is essential. Information management projects must always be designed so that they deliver tangible and visible benefits. This means that mostly information management projects are very valuable but when asked it can be difficult to show the return on investment. For example, improving the information accessible to call center staff can have a very observable and tangible impact on customer service. Business Needs should be given importance Some organizations try to prioritize projects according to the technology to be deployed meaning that if newer technology is being used the project is given the highest priority; this is not a meaningful approach. Instead of using this method projects should be prioritize according to how they address the business needs. Move step by step There is no single project that wills solve all the information management problems of an organization. In reality, anyone who tries to design the complete information management solution will be trapped in 'analysis paralysis' that is the inability to get out of the planning process. Hence journey of a thousand steps should be taken that is small changes should be made in the information management practices that eventually result in the perfect process later. Strong Leadership If an organization wants effective information management they need to concentrate on organizational and cultural changes. Strong leadership can only achieve these objectives. Hence effective and successful information management is a result of strong leadership. Avoid Risks While providing solutions for complex issues of any organizations as we discussed in the 1st principle it is very necessary to study all the risks involved. All the solutions that are provided have risks involved while implementing them. Identifying those risks and avoiding them using risk management is necessary and quite achievable. Extensive Communication Effective