A Critical Exploration of Roles and Professionalism Essay

A Critical Exploration of Roles and Professionalism - Essay Example Professionalism in this respect and in relation to this paper and that of teaching profession in England shall be taking to encompass teacher’s conduct, their commitment to quality and to learners and upholding of positive attitude. A desirable teacher is the one who assists the learners to learn. The roles undertaken by the teacher require both educational expertise as well as content knowledge. As briefly indicated earlier, the teacher acts as a facilitator, as a role model to the learners, as an information provider, as a leaning resources developer, as a planner and as an assessor. In England the teacher is supposed to pass on information as well as knowledge to the learners. This is presumably the primary role that the teacher plays in facilitating leaning. Here the teacher is expected to share their thoughts in assisting to illuminate the ideas that underlie a certain subject of study. As a role model the teacher should uphold good moral grounds that every learner should emulate. The teacher on the other hand should at all time act as a learning facilitator and a mentor to their learners (Shirley et al. 1984). In England there has been a move towards having a more learner centred learning. Therefore, the teacher has become more of a facilitator in the learning process. The teacher is also taken to be an assessor of learners’ competence. This is where the teacher is supposed to be an excellent examiner who is able to incorporate all the assessment issues. The teacher is supposed to come up with the required learning outcomes as well as assess the learn ers’ leaning outcomes. In the process of assessing the learners’ competence in grasping the content taught, the teacher also assess themselves as the results indicate the effectiveness of the teaching processes applied there before. This encompasses the evaluation role that the teachers should play in instilling knowledge which forms a

Political Economy of Japan Essay Example | Topics and Well Written Essays - 2000 words

Political Economy of Japan - Essay Example †¢ The national authorities had been in favour of trade liberalization Japan had historically been in favour of trade liberalization and deregulation of all trade barriers. Prior to 1960, Japan had imposed strict trade restrictions in the form of quotas and tariffs. However, gradually these impediments were lifted so that the domestic industries gathered the technical skills to compete with the external players. Nevertheless the national authorities had been cautious about the protection of the domestic sector or the indigenous firms. But, all its qualms were erased when the newly adopted trade policy became a huge success in 1963, which was prominent through soaring economic growth rates. Despite the high success of trade liberalisation, the nation experienced trade deficits in the early 1970s, mainly due to hikes in oil prices. Hence, the nation submerged in a phase of high inflation. This initialised the government to tighten its monetary policies and control the flow of money in the nation, leading the nation to a period somewhat similar to that of a recession. These external factors also made them impose certain restrictions on their international trade arena (Ho, 1977). †¢ The national authorities of Japan had been more or less against liberalisation and deregulation between 1970s and 1990s The Japanese economy, unlike its neighbours had remained stringent regarding international trade relations prior to the East Asian crisis of 1997.

Operations management Essay Example | Topics and Well Written Essays - 1500 words

Operations management - Essay Example This efficient and effective manner of doing any business process helps in improving the quality of any product or service offered to the customer. Quality is a major aspect in any product or service that is highly admired by a customer; hence every sane organization strives to keep up their product or service to the highest possible quality in order to be in the good books of their respective customers. According to Peter Drucker â€Å"Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for† (Drucker, 1985). Hence it can be said that quality is a major issue that should be given utmost attention within any organization. There are two systems that assure the quality aspect within a company, quality control and quality assurance. The Tokundu airport faces major quality issues and it is because of these issues that the service of the airport is getting highly affected. If Tokundu is to deliver better service of reasonable quality and standard, it must focus on all the factors that may have an impact on the quality of the airport. As each and every aspect has certain influence upon quality, an efficient and effective Quality Management System should be introduced at the airport enhance the quality of the service offered by the airport. â€Å"Quality Management System is the organizational structure of responsibilities, activities, resources and events that together provide procedures and methods of implementation to ensure the capability of an organization to meet quality standards†(Tricker et al, 2005). Quality assurance and Quality control are two main parts of Quality Management System (QMS). Quality control satisfies quality requirements while quality assurance gives assurance that quality obligations would be satisfied. Quality control is considered pre active whilst quality assurance is considered to be pro active. Quality control involves the use of activities that ensure the quality of the outputs in any organization, it involves the activities such as supervising; checking and inspecting at all levels within the organization. Quality assurance on the other hand provides a promise that all the relevant activities being performed during the Quality control aspect are working properly and that the relevant quality standard is being achieved. To increase the confidence of customers, organizations tend to obtain Quality certification that give a proof to the customers that the organization is performing reasonably as the quality certification gives a proof to that. Quality certification is not easily attainable as it requires many formalities to be met within an organization and these certifications are provided by recognized quality certification bodies. One of the most important series of certification issued by the International Organization for Standardization is the ISO 9000 standard. ISO 9000 is a set of quality standards that deal with the issues of Quality management Systems within an organization. These standards were amended in the year 2000 and were then know as the ISO 9000:2000 series of standards. The ISO 9000:2000 has three main components which relate to 1) defining the

The ethics of whistle-Blowing Essay Example | Topics and Well Written Essays - 500 words

The ethics of whistle-Blowing - Essay Example These are people within the organization that see violations in business policies and report them to the relevant authorities. Many things are brought about by this behavior, ranging from honest business practices to mistrust among co-workers. There are certain considerations that have to be made when reporting malpractices in the business. Whistleblowing affects the way the business relates to its environment, and the way co-workers relate with each other. Whistleblowing is the act of reporting a malpractice, wrongdoing or risk to the police, employer, customer, or a regulator (Davis, 2006). There are many instances, such as these found in an article about ethics by Verschoor (2013). An example of a case found in the article is one where an employee reported his employer for malpractices. In New York, Mohanbhai Ramchandani reported his employer and celebrity tailor Ramchandani for not reporting all of his profits in sales and taxes. According to Verschoor (2013), the employee was paid $1.1 million dollars for whistleblowing. Based on the analysis of this case, whistleblowing was the correct decision. This is because no one else can identify fraud apart from the people in the organization (Bouville, 2007). There could be acts involving corruption affecting, honest business practices that go against the law. Therefore, it is necessary for people to monitor business practices and report unhealthy business forms. The act of whistleblowing is an act involving business ethics that has its benefits and demerits (Davis, 2006). A benefit of whistleblowing is that it protects investors of businesses from people that look to mismanage money for their own benefits. Unsuspecting customers also benefit from people who report malpractices in business. For example, a whistleblower protects patients from a doctor who overcharges for services and uses questionable means in administering

Homework Assignment Essay Example for Free

Homework Assignment Essay 1. Define the process of accounting. Accounting is the process of identifying, measuring and communicating economic information about an organization for the purpose of making decisions and informed judgments. 2. What are the three major divisions in the accounting field? Financial, managerial and cost accounting 3. What is the Fundamental Accounting Equation? Assets = Liabilities + Equity 4. What is the purpose of a balance sheet? What are some examples of typical balance sheet accounts? A balance sheet is a summary of financial balances of an organizations assets, liabilities and equity listed on a specific date such as the end of year report. A balance sheet is a snap shot of the company’s financial status 5. What is the purpose of an income statement? What are some examples of typical income statement accounts? An income statement is also known as profit and loss statement is one of the financial statements of a company and shows revenues and expenses during a particular period. An income statement indicates how the revenues are transformed into net income 6. What is the purpose of a statement of cash flows? What are some examples of typical statement of cash flow accounts? A cash flow statement consists of three parts; operating, investing and financing. It is the summary of transactions that affected cash in a particular period. In other words, it si a summary of all the cash payments and the cash receipts that occurred during a month, quarter or year for a business. 7. Based on the financial information below, prepare an income statement and a balance sheet for Joe’s-Fly-by-Night Oil company for the year ended December 31, 2012. Unless otherwise indicated, assume all information below is either for the year 2012 or as of December 31, 2012.

Role of Consumer Expectations in Economic Policy

Role of Consumer Expectations in Economic Policy BU/12C/BS/0403 Introduction A theme that dominates modern discussions of macro policy is the importance of expectations, and economists have devoted a great deal of thought to expectations and the economy. Change in expectations can shift the aggregate demand (AD) curve; expectations of inflation can cause inflation. For this reason expectations are central to all policy discussions, and what people believe policy will be significantly influences the effectiveness of the policy. Expectations complicate models and policymaking enormously; they change the focus of discussions from a response that can be captured by simple models to much more complicated discussions. The adaptive expectations theory assumes people form their expectations on future inflation on the basis of previous and present inflation rates and only gradually change their expectations as experience unfolds. In this theory, there is a short-run tradeoff between inflation and unemployment which does not exist in the long-run. Any attempt to reduce the unemployment rate blow the natural rate sets in motion forces which destabilize the Phillips Curve and shift it rightward. Under adaptive expectations, forecasts of the future rate of inflation may be right on the money, but they may also exhibit systematic error. When inflation is accelerating, forecasts will tend to be too low. And when inflation is decelerating (that is, disinflation is taking place), then forecasts will tend to be too high. The Rational expectations model was developed by Robert Lucas, rational economic agents are assumed to make the best of all possible use of all publicly available information. Before reaching a conclusion, people are assumed to consider all available information before them, then make informed, rational judgments on what the future holds. This does not mean that every individual’s expectations or predictions about the future will be correct. Those errors that do occur will be randomly distributed, such that the expectations of large numbers of people will average out to be correct. To illustrate, assume the economy has been in an equilibrium state for several years with low inflation and low unemployment. In such a stable environment, the average person would expect the inflation rate to stay where it is indefinitely. But now assume the Central Bank announces it is going to significantly increase the rate of growth of the money supply. Basic economic theory tells us an increase in the money supply will translate into higher prices, such that increasing the annual rate of growth of the money supply should bring about higher inflation rates. Knowing this, consumers will revise their inflationary expectations upward. As this simple example shows, people do not rely only on past experiences to formulate their expectations of the future, as adaptive expectations theory suggests. Rather people use all information available to them in judging what the future will hold. This information can include past data, but it will also include current policy announcements and all other information that give them reason to believe that the future might hold certain changes. If the adaptive expectations are backward looking the rational expectations are forward looking , in that they assume people will use all of the information available to them. Expectations of inflation Some workers may feel cheated by inflation. They might believe that without it, they would experience real-wage increases because their nominal wages are rising 5% a year. Unfortunately, they are wrong. They suffer what some economists call money illusion, a confusion of real and nominal weight. The source of the illusion is as thus; considering real wages are constant, the rise of their nominal wages by 5% is only as a result of the general 5% inflation. Assuming no inflation took place, there will be no increase in their nominal wages. After a time, everyone in the economy will begin to expect that the 5% annual inflation that ensued in the past would continue in the future. Economists refer to this as expectations of inflation. People’s expectations of inflation influences all facets of economic life. For example, in the steady-state economy described previously, textile producers will look forward to increasing the price of their products by 5% for the coming years. They will also expect their costs of steel and labor, for example, to increase the same way. Workers will begin to believe that the increase in their wages will be matched by the same increase in the prices of goods they buy. Also, wages are influenced by expectations. Suppose, for example, that both employers and employees expect 4% inflation in the year coming. Workers will start negotiations from a base of a 4% increase in money wages, which would hold their real wages constant. Firms also may be inclined to begin bargaining by yielding to increase at least 4% in money wages relative to productivity, because they expect that the prices at which they sell their products will rise by 4%. Starting from that base, workers will attempt to obtain some desired increase in their real wages. At this point, such factors as profits and bargaining power become important. The general expectation of some specific inflation rate creates pressure for wages to rise by that rate relative to productivity and, thus, the rise of unit cost at that rate. Inflation expectations and Interest rates When the public expects inflation, real and nominal rates of interest will differ because inflation needs to be accounted for in calculating the real return from lending and borrowing. Have in mind that the nominal interest rate is equal to the real interest rate plus expected inflation rate. If real rate of interest is 2% and inflation is 5% a year, the nominal rate is 7%. Although lenders receive 7% a year on their loans, their real return after inflation rate is just 2%. We know that in the long run the real interest rate does not bank on monetary policy because money is neutral; i.e. the price level is affected by the money supply. However, the nominal rates of interest do bank on monetary policy because the policy influences the rate of inflation, which in the long run is bent on the growth of the money supply. It has been pointed out that countries with greater money growth naturally have higher nominal interest rates than countries with lower money growth rates because they have higher inflation. What this means is that country A and B have the same real rate of interest, but country A has a higher inflation rate, it will also have a higher nominal interest rate. Inflation expectations and money demand The amount of money people want to hold will also be affected by expectations about inflation. If the public expects a 5% inflation a year, then its demand for money will also increase by 5% a year. This is because people know everything will cost 5% more, so they’ll need more money in their possession to pay for the same goods and services. This is an example of the real-nominal principle: As long as the government allows the increase in the supply of money by 5% , the same amount as inflation, the demand for money and supply are both growing at the same rate, real and nominal interest rates will not change. Effects of expectations on changes in future income Todays consumption decisions may depend not only on current income, but also  on the income that one expects to earn in the future. For example, an individual  who is currently not employed but who has a contract to begin a high-paying job  in three months will probably consume more today than another unemployed  individual with no job prospects. To illustrate the effect of changes in expected future income, suppose that  instead of receiving the $6000 bonus during the current year, a consumer learns that  she will receive a $6000 bonus (after taxes) next year. The promise of the bonus is  legally binding, and said consumer has no doubt that extra income will be received  next year. How will this information affect the consumer’s consumption and saving in  the current year? Because current income is unaffected, the consumer could leave her current  consumption and saving unchanged, waiting until the bonus is actually received  to increase her consumption. If her decisions are guided by a consumption-smoothing motive, however, she will prefer to use the bonus to increase her current consumption  as well as her future consumption. She can increase her current consumption, despite the fact that her current income remains unchanged, by reducing her current saving (she could even dissave, or have negative cu rrent saving, with current consumption exceeding current income, by using her accumulated assets or by borrowing). Suppose, for example, that consumer decides to consume $1000 more this year. Because current income is unchanged, the $1000 increase in current consumption is equivalent to a $1000 reduction in current saving. The $ 1000 reduction in current saving will reduce the available resources in the next year, relative to the situation in which her saving is unchanged, by $ 1000 X (1 + r) . For example, if the real interest rate is 0.05, cutting current saving by $1000 reduces the available resources next year by $1000 X 1 .05 == $1050. Overall, her available resources next year will increase by $6000 because of the bonus but will decrease by $1050 because of reduced current saving, giving a net increase in resources of $6000 $1050 == $4950, which can be used to increase consumption next year or in the following years. Effectively, the consumer can use the increase in her expec ted future income to increase consumption both in the present and in the future. To summarize, an increase in an individuals expected future income is likely to lead that person to increase current consumption and decrease current saving. The same result applies at the macroeconomic level: If people expect that aggregate output and income, Y, will be higher in the future, current desired consumption, cd, should increase and current desired national saving, sd, should decrease. Economists cant measure expected future income directly, so how do they  take this variable into account when predicting consumption and saving behavior? One approach is to survey consumers and ask them about their expectations. Their  answers can be useful for assessing developments in the macroeconomy.   In conclusion, The central role of expectations means that there is a great deal of uncertainty in the economy. Put simply: What people believe plays a central role in how they react to policy. Expectations can change the effect of a policy. Most discussion of policy today assumes that people are forward looking, that they think strategically, and that they base their actions on expected policy actions. Thus in some way their expectations are rational. But modern policy discussion is also built on the belief that the economy is complicated and that many possible expectations are rational. This includes adaptive expectations and combinations of expectations strategies. What the above assumptions mean in terms of policy is that depending on the beliefs that individuals hold, monetary and fiscal policy will work in different ways. People aren’t stupid and they aren’t super intelligent; they are people. If the government uses an activist monetary and fiscal policy in a predictable way, people will eventually come to build that expectation into their behavior. If the government bases its prediction of the effect of policy on past experience, that prediction will likely be wrong. But government never knows when expectations will change. Let’s consider an example. Say that everyone expects government to run expansionary fiscal policy if the economy is in recession. In the absence of any expected policy response from the government, people will lower their prices when they see a recession coming. Expecting government expansionary policy, however they won’t lower their price. Thus, the expectation of policy can create its own problems. References: Advanced Macro Economics, Romer, 2011; Slavin S., Macro Economics, 2009; A Century of Economic Theory. Mankiw, Mcroeconomics, Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment: Business Cycle Theory: The Economy in the Short Run   Rittenberg Tregarthen Micheal Rousakis, uni of warwick, economics and fluctuations: the role of monetary policy, 2012 Froyen, Macroeconomics Weil, Economic Growth

The influential factors behind the growth of globalisation

The influential factors behind the growth of globalisation Current business environment is more volatile and dynamic. There are different reasons behind this transformation in the world. Globalisation is one of the main factors that behind the above change. We can define globalisation as a process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Earlier existed boundaries between countries in the world have been dramatically reduced due to the globalisation. This is seen as more than simply a way of conducting business- it can be considered as a continues process. This is not a new force that emerged few years back, it has been taking place for hundreds of years but it has speeded up enormously over the last half-century. In History, in a similar manner, the techniques of industrial manufacturing lead to create the process of industrialisation, now that process has linked with the globalisation and has created new environment of operating businesses. There are few influential factors behind the growth of globalisation. Increase in communication technology is one of them. TV, telephony and the internet have permitted information and ideas to travel quickly. As an example USA businesses can have a call centre in Philippine or India answering calls from local customers. Another factor is improvements in the transportation sector. It has become more quick and cheap. People can go for holiday all around the world. Workforce can seek for a job opportunity available in another country. Businesses can easily ship their product and raw materials all over the world. Another main influential factor behind the growth is trade liberalisation. This has been excelled due to the Laws restricting for free trade and fo reign investment movements have been relaxed between countries. Some governments even offer grants and tax incentives to attract foreign companies to invest in their country. These actions have lead to create free trade zones in the world. In other words theses are known as trade blocs where groups of nations who form an economic union or customs union. Governments follow friendly rules and regulation within those regions for trading purposes. For example the European Union (EU) aims at not just a customs union but also economic union by way of harmonisation of taxes, establishing a common monetary policy and moves towards a single currency. EU has now expanded over 26 member countries and benefited to combined population of 356 million. Trading blocs generally increase the integration and interdependency of the member economies which is speed up the globalisation process. As a result of trading blocs trade amongst the members has increased, which ultimately increase the world trade capacity. Further it gives the opportunity to businesses better access to effective capital and labour markets which increases the movement of labour within the countries and increase investments. For example Poland workers have been well recognized in the UK and Ireland labour markets. As result of the globalisation process international trade has increased dramatically in the 20th century. Many countries get more chances to participate in the world trade. As a result of increase in Foreign Direct Investment (FDI) many labour oriented countries get access to capital market and vice -versa. Their natural resources value has increased and countries have more capability to use them to manufacture export oriented goods. Increase in international trade brings better standard of living through access to many ways of satisfying their needs and wants. Further it is argued that current development of trading blocs help international trade through making global negotiations easier, in the case of trade negotiations.   For example the EU will negotiate as a single trading block making it easier to push through practises which increase free trade. As per the following graph it is arguable that benefits of international trade have been equally distributed among the world population. Globalisation and increase in international trade is probably helping to create more wealth in developing countries and has affected to the balance of international trade. However globalisation is having a dramatic effect on the organisations for good or ill. Some positive impacts are as follows; Increase greater access to capital market. Inward investment by MNCs helps organisation to start new businesses locally and in foreign countries. This will provide new jobs and skills for local people. Companies can bring wealth and foreign currency to local economies when they buy local resources, products and services. Release of government regulation and establishing better infrastructure in the local economy attract foreign investments. China is well known for cheap labour compared to western countries labour cost. This has become a main reason for many organisations moving their businesses to China. Further investment friendly environment through strong financial support (Tax benefits, financial institutes) for new businesses, attract their cheap resources for other countries. Most of the western countries resources are fully utilised and market have become more matures, but there are emerging economies like China, India, Brazil and Russia which consist many untapped cheap resources. Therefore as a result of pressure built up from the Western markets, businesses now moving for those emerging markets. This process has been made easier and more comfortable due to the globalisation. The extra money created by these investments can be spent on education, health and infrastructure of the countries. (Corporate Social Responsibility activities) Achieve economies of scale. Economies of scale means the increase in  efficiency of production  as the number of goods  being produced increases.  Economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Initially Adams Smith identified division of labour and specialization are the main factors that lead to economies of scale. However as Globalisation process increases companies get other opportunities to reduce their production cost and achieve economies of scale. Access to lower inputs and specialized inputs in different countries would bring the economies of scale. Costly inputs such as research and development, advertising, managerial expertise and skilled labor now can be outsourced to specialized countries and it will result in increased efficiency and lead to a decrease in the average cost of production and selling. Therefore economies of scale provides  big companies  access to a larger market with lower cost of production and greater margin for their products.    Globalisation increases awareness of events happening in the world. For example, the USA was quickly made aware of the 2011 tsunami in Japan and sent help rapidly in response. Globalisation may help to make people more aware of global issues such as deforestation and global warming and alert them to the need for sustainable development. The sharing of ideas, experiences and lifestyles of people and cultures. People can experience foods and other products not previously available in their countries. Globalisation has resulted in many businesses starting or buying operations in other countries. Companies that operate in several countries are called multinational corporations (MNCs) or transnational corporations (TNCs). Presence in different countries brings interaction with different cultural and social values. On this case business practices that are successful in local country could be act as negatively or positively under different cultural and social values. Therefore it is advisable to find answer to following questions before starting a new venture with another country. What are the main difference between cultures?, Are they matter of learning a new handshake, or do they go deeper than that?, Can cultural differences really have that much impact on the business deal? Etc. Finding solution for those questions is helpful for organisations to handle cultural differences in business expansions. For example language differences, the way they perceive time, traditional and religious believes etc. play a big role in Asian countries. When US and European base organisations move towards the Asian countries the above cultural factors could act as barriers for entry to those markets. In terms of communication US and Europeans are considered as low context cultures, language is direct and explicit, but when it comes to Asian countries they are known as high context cultures where language is indirect. Further as per certain cultural and social practices men dominate in the business sector than the women but in European organisation everyone gets equal opportunity to participate in the operations. Therefore when companies setup new business in a different culture, that company need to customise their corporate culture as per the local cultural values. As an example the US fast food chain McDonalds, large MNC which has nearly 30,000 restaurants in 119 countries, had a problem of sell ing beef burger in India due to the religious believes. Further they launched Mc Rice in Sri Lanka since rice is the main food in the Sri Lankan culture. Likewise multinational companies tend to customise their strategies to overcome certain social and cultural restrictions as well as implement new thing to take advantageous. In current business environment sometimes it is difficult to follow a global strategy for their operation in throughout the world. Therefore most companies tailor their management strategy and organisational structures to respond to the local factors. In other words local responsiveness is essential when a psychic distance is higher in two different countries. As a result of this new relationships will occur in managing businesses globally. Joint venture agreements, alliances etc. are common relationships that business partners follow to reduce their risk exposure in the current business environment. Designing of organisational structure and management style is important capture the opportunities available in the market. Some companies follow decentralised structure to increase the speed of decision making in the particular market. Some other companies follow a selective approach by some functions are retain in with the parent country and others establish in different markets. As exa mple GAP Inc.s designing function is conducted in centrally and manufacturing function has been outsourced to Asian countries. This mechanism has benefitted them through utilising Asian countries specialised capabilities of manufacturing to convert their design into practical product. Therefore globalisation process brings new organisational designs and management styles to the market. Local markets work force have now increased and well interact with the MNCs. Earlier they were only involved for lower level operations but now management representation also has increased. This is a good advantage for MNCs to take advantage of innovative skills of the local employees since they have more experience in the particular market. Microsoft has given more concentration on Indian market since that workforce well recognised for IT skills. From employees perspective also this will be a good opportunity for them to utilise their skills effectively. Recognition, income level, career opportunities, opportunity to obtain foreign exposures etc. will be increased through working in multinational company. Their innovative concept could bring to the world market through the help of MNCs. So far this report addressed only the good side of the Globalisation and not that mean it doesnt have a dark side. Following are few negative impacts of globalisation Globalisation operates mostly in the interests of the developed countries, which continue to dominate world trade at the expense of developing countries. The role of developing countries market has become to provide the North and West with cheap labour and raw materials at lower cost. There are no guarantees that the proper benefits from inward investment will benefit the local community in developing countries. Often, profits are sent back to the MNCs parent countries. This has become easier for them due the tax relief offered by the local governments. Further these MNCs with their massive economies of scale, possibility to drive local companies out of business. After that If these MNCs realised that it becomes cheaper to operate in another country than the current one then they move for better opportunity by closing down the factory and make local people redundant. This would be a major hit for the local economy. Increase environmental population due to the high industrialisation. Globalisation is viewed by many as it affects to the worlds cultural diversity and it feared that it may westernise the local traditions and languages. After considering the above negative sides of the globalisation we can state that it is not helping to close the gap between the worlds poorest countries and the worlds richest. In the case of trading blocs, it is argued they create conflicting parties fighting for regional interests not for every ones benefits. As per the World Trade Organisations statistics, the worlds poorest countries share of world trade has declined by more than 40 per cent since 1980 to a mere 0.4 per cent and the poorest 49 countries make up 10% of the worlds population, but account for only 0.4% of world trade. (Online, www.gatt.org) This clearly shows benifits of globalisation has not been distributed equally. Further its doubt that MNCs pay fair amount for the developing countries resources. As a result of these negative reasons poor peoples living standards remain same and the gap between poor countries and rich countries wont reduce. Conclusion Globalisation has a major impact on the business environment as well as the people general life pattern. Within the current knowledge economy, knowledge workers have more opportunities due to the globalisation. Their career is not static as compared to the traditional workers. They always seek better opportunities in the market and as a result of globalisation their career path has extended even for different countries. However, as a MNC, they have more responsibilities and accountability for their actions in the different markets. As a good corporate citizen they must give their focus on improving local social and educational life the local people also. Further they must ensure fair consideration for the resources utilised the developing countries. These will ultimately useful to break the bridge between rich and poor countries.