1/23/2020 0 Comments UK Monetary Policy Regime Essay Example | Topics and Well Written Essays - 2500 wordsUK Monetary Policy Regime - Essay Example This paper illustrates that Monetary Policy can be broadly defined as “the deliberate effort by the Central Bank to influence economic activity by variations in the money supply, in the availability of credit or in the interest rates consistent with the specific national objectives.â€Â Money serves as a medium of exchange, as a store of value, a standard for measuring values and a unit of account. The role of money is to serve as a medium of exchange, and it is the medium through which everything can be bought and sold. The monetary policy of any country refers to the regulatory policy, whereby the monetary authority maintains its control over the supply of money for the realization of general economic objectives. This involves manipulating the supply of money, the level, and structure of interest rates and other conditions affecting the availability of credit. However, in the context of developing economies, monetary policy acquires a wider role and it has to be designed to meet the particular requirements of the economy. This involves not merely the restriction of credit expansion to curb inflation, but also the provision of adequate funds to meet the legitimate requirements of industry and trade and curbing the use of credit for unproductive and speculative purposes. The monetary policy of an economy operates through three important instruments, viz. the regulation of money supply, control over aggregate credit and the interest rate policy. Economic growth is dependent on mobilizing savings and directing them into productive channels. In this process, money supply can only play a limited role. However, the role establishes an important connection between money supply, output and price level (ICFAI Center for Management Research (ICMR)). These relationships cannot be ignored even if the primary concern of the government is the mobilization of real factors that ultimately lead to economic growth. A principal objective of any central bank is to safeguard the value of the currency in terms of what it will purchase. Rising prices – inflation – reduces the value of money. Monetary policy is directed to achieving this objective and providing a framework for non-inflationary economic growth.
0 Comments
12/30/2019 0 Comments Human Resource Management at Work Essay Example | Topics and Well Written Essays - 2750 wordsHuman Resource Management at Work - Essay Example In this situation, it is essential that employees perceive constant organizational support and are motivated to improve their workplace performance. HR leadership and management strategies will play the vital role in bringing organizations in the leisure industry toward their strategic goals. That HRM decisions produce a multitude of effects on the quality of performance in organizations is a well-known fact. Brendon Jones, Ltd is no exception. In its current situation, the company has several strategic options to choose from. While the company is losing its market position and experiences a rapid decline in consumer satisfaction, its principal task is to improve its stability and position in the leisure industry and retain its consumers. Also, the company must ensure that the number of new consumers constantly increases and, most importantly, that new and existing consumers are satisfied with the quality of its entertainment services. Advertising looks like the primary and the most promising solution to the customer issues: while Brendon Jones, Ltd is losing its consumers, a well-developed advertising campaign could help it to revive its brand and popularity and attract new customers. Attractive as it may look, advertising and brand revival will not resolve the company’s organizational issues from within. Advertising is just an instrument of popularity and competitiveness in a short-term perspective. In no way does advertising help to raise the efficiency of business operations at Brendon Jones, Ltd. Therefore, the organization could try to reconsider its budget and financial expenses, to open new parks or develop new, sophisticated attractions. Apparently, the success of the leisure industry organizations is in whether they can surprise their consumers. The more surprising and sophisticated attractions are the more interested
|