Outline and analyse a chosen strategy to attempt to gain competitive Essay

Outline and analyse a chosen strategy to attempt to gain competitive advantage through managing cultural diversity in an (Hospitality)organization - Essay Example People of diverse backgrounds have to work together for achieving the same goal and objectives of the company. But diverse cultural backgrounds have different values and rules which often create many conflicts within the organization. Hospitality companies experiences cultural diversity and its related issues. Therefore managing cultural diversity of the company in an effective way has become an important tool for achieving its corporate goals. The concept of cultural diversity is multidimensional and complex phenomenon. It is an important issues associated with the long term success of the company. The hospitality companies are growing internationally. They have to face various cultural issues in different countries of the world. It is important to recognize the cultural background of its workforce as cultural negativity influences the success and performance of the company. The cross cultural barriers of the hospitality company develop many challenges. Managing different cultures i n the workplace helps to honor the differences of the cultures and motivates them to work in best way benefiting the hospitality company. To manage the diversity in the workplace Hospitality Company follows different strategies and policies. The executives of the company must be involved in different cultural infusions and become committed to practice those cultural strategies and policies. For understanding the present state of cultural diversity the company can assess the issues related to variable cultures. This assessment helps the management team to evaluate the issues of diverse work culture. Strategies of interviewing the leaders of the hospitality company give ideas about the diverse culture of the company. The companies can implement the strategy of knowing the employees perception out diversity management in the hospitality company with the help of its managers, leaders and supervisor. This strategy provides the statistical data

Debt Crisis in the Euro-zone Essay Example | Topics and Well Written Essays - 2500 words

Debt Crisis in the Euro-zone - Essay Example Nations such as Greece, Ireland and Portugal, who are currently way deep recession, meet the definition of a full-blown economic depression (Schuman, 2011). The depreciation of the euro relative to the home currency will make Euro-zone exports cheaper in global markets; this as a result would increase the competitive pressure in the home country. At the same time, it was observed in the last quarter of 2011, manufacturing industry weakened from China to Europe and euro region’s debt crisis is expected to darken the outlook of the global economy. Before going any further, it would be interesting to understand why it is necessary and helpful for countries to borrow and then to accumulate debt. Foreign borrowing is seen by governments as an addition to domestic saving, this borrowing helps in connecting to an investment saving gap and thus this leads to gain quicker growth, this is usually considered as final and vital economic goal for any country. The Mundell-Fleming model amal gamates the foreign finance and trade into a macro-economic theory. The theory came into evolution in the early 1960s and was introduced by the great Canadian Economist and the winner of 1999 Nobel Price Award, Robert Mundell. He was also heavily helped and facilitated by the British economist, J. Marcus Fleming. During the time period when this theory came into existence, both these economists were a part of the research team within the famous International Monetary Fund. While carrying out their research towards the Mundell-Fleming model, they enhanced the conventional Keynesian model in to such an open economy system whereby the capital and the goods market were internationally incorporated (Hailu et al, 2011). The Mundell-Fleming model is of the view that under a flexible exchange rate management system, the fiscal policy has almost none or little effect over the final yield or output whilst the monetary system is hugely valuable. This situation shows an entire mirror image when a fixed exchange rate is adopted i.e. the fiscal policy becomes effective rather than the monetary policy. The hypothesis that international money markets are completely amalgamated plays an important role in formulating these results. One of the major suppositions that the Mundell-Fleming model makes is that the economy under consideration is an open economy whereby the financial capital has an ideal mobility. The Mundell-Fleming model and the traditional IS-LM model are similar to each other when expressing the market for goods and services. One of the differences is that the Mundell-Fleming model includes a fresh terminology for net exports; this can be portrayed with the following equation: Y = C(Y -T) + I (r) + G + NX (E) Whereby; Y= The aggregate/cumulative income C= Consumption, I= Investment G= Government purchases (Y – T)= Disposable Income r = Interest rate NX = Net Exports E= Exchange Rate According to this equation, the total aggregate income of any country is th e totting up of all these different factors. The consumption factor within the equation is positively dependent upon the disposable income whilst the investments and the net exports are negatively dependent upon the real interest and exchange rates respectively (Serrano et al, n.d.). The Mundell-Fleming model provides an understanding that clearly helps in analysing the consequences of adopting