Study case Essay Example | Topics and Well Written Essays - 2500 words

Study case - Essay Example This paper means to show full information on the board and effect of human asset strategies and it’s anent alternatives inside the setting of Servo Engineering Company’s HR the executives. Analyst likewise means to introduce confirmations of human asset the executives to arrive at discerning resolution and proposals. In this manner, the specialist will respond to questions relating to hypothesis of ‘self-managed’ or semi-self-sufficient groups in assembling applied to Servo Engineering. What changes may be made in the association of work that may improve work profitability? Servo Engineering was built up in 1897 and inside 50 years, the organization turned into a pioneer in the assembling of vehicle parts. In the late 1970s, the organization had the option to build up its auxiliary organization named as the American Ensign (Bratton and Gold, 2007, p. 487). The global organization extended its assembling plants in United Kingdom, United States of America (USA), and Germany. Adjust to innovative headway, the organization additionally started creation apparatus driven and constrained by data innovation. To attempt the organization’s activities, the creation office were sorted out into six ‘self-oversaw teams’ (SMT), with 12 and 50 laborers that are working in three moves and are accepted to be item focused and are decently working as a small scale inside a bigger industrial facility (Bratton and Gold, 2007, p. 487). Every one of the group is invested with adequate apparatus to finish the phases of assembling items. Those that are not ap pointed as undertakings of SMT are subcontracted from redistributed administrations (Bratton and Gold, 2007, p. 487). Assignments were separated into the group with SMT boss doing the administrative capacities. An item facilitator is likewise entrusted to guarantee the flexibly of crude materials and the creation of requested number of focused produce while the charge-hand screens the advancement of their exhibitions (Bratton and Gold, 2007, p. 487). Different workers, which

Michael Flatley essays

Michael Flatley articles It appeared that Michael Flatley was at the highest point of his vocation when he was approached to leave the widely acclaimed move bunch Riverdance. This was a serious shock thinking about talented performer/choreographer gave off an impression of being the mystery behind Riverdances accomplishment from the earliest starting point. The reason for this choice was clearly due to Flatleys solid requests by they way he needed the show to run. Requests, for example, command over his own masterful understandings, requiring two full pages imprinted in the program of his life story and an a lot bigger compensation. To numerous these requests appeared to be haughty and narcissistic. His narcissistic demeanor appeared to cloud the possibility that a creation was not made by one individual alone. Since the Riverdance business culture was not receptive to only one performer, this conflicted with their whole cooperation environment. Along these lines they couldn't yield to Flatleys requests. Aft er cautious thought Flatley was given up. Here is the place the Lord of the Dance chose to gather his own one of a kind creation organization without being smothered from his craftmanship. During this pentacle point in Michael Flatleys profession we start to investigate the numerous different open doors that could have occurred. As a matter of first importance, the primary contention among Riverdance and Flatley was that they would not fulfill his needs to take control and undertaking himself as a star. Since cooperation and common joint efforts was what Riverdance prided itself upon, this critical inconsistency in their way of life was not going to be approved. A reasonable trade off in this issue could have been as straightforward as Flatley bringing down his requests to be imprinted in various pages of the program or Riverdance permitting him to have more command over his craft and translations. Since he was extremely obstinate about not losing his aesthetic impact and requested more compensation, another alternative would have been to have endured it. The media ... <!

Bipartisan Bills Introduced to End Robocalling - OppLoans

Bipartisan Bills Introduced to End Robocalling - OppLoans Bipartisan Bills Introduced to End RobocallingInside Subprime: April 16, 2019By Grace AustinSeveral efforts to combat robocalling have been introduced with bipartisan support in Congress, as those at the state level look to fight the nuisance as well.The Help Americans Never Get Unwanted Phone calls, or HANGUP Act, has been reintroduced by Sens. Ed Markey, D-Massachusetts, and Mike Lee, R-Utah, and Rep. Anna Eshoo, D-California. The bipartisan bill would amend a Telephone Consumer Protection Act statute and a Federal Communications Commission rule that allows government contractors and debt collectors to be free from those regulations.“The HANGUP Act ensures that government and government contractors are held to the same standard that we hold independent and private businesses,” said Lee.Another bipartisan bill, called the TRACED Act, was also introduced in Congress this session to combat robocalling, and could increase penalties for violators.Sens. John Thune, R-South Dakota, an d Markey, who are sponsoring the bill, say they want to increase the FCC’s authority to go after those making robocalls by imposing greater fines and making sure call authentication systems are adopted. Underneath the TRACED Act, telephone providers wouldn’t be liable for blocking calls based on information provided by the call authentication systems and the bill would only target “intentional” violators.State attorneys general across the country have come out in support of the TRACED Act.Bloomberg said the bill “has the backing of the commission as well as both industry and consumer groups.”That’s been the trouble in Congress with robocall bills â€" balancing industry interests by not over-burdening them with regulations while protecting consumers.And those robocalls are not only a daily and growing nuisance to millions of Americans: they also can be a way for scammers to deceive consumers and take their money. Scam artists often threaten consumers with harsh conseque nces like jail time or penalties to get them to pay up. They often impersonate IRS or law enforcement officials and can even spoof their phone numbers to make the calls appear legitimate.Bloomberg Government reported that Congress has failed at least a dozen times to pass legislation to end robocalling since 2015. The HANGUP Act was previously introduced twice before unsuccessfully.State governments aren’t waiting around for federal legislation, though. Pennsylvania is working on measures to prevent robocalling. Connecticut strengthened its fines for robocalling violations in 2018 and a bill in Kentucky outlawing spoofing has now made it to the governor’s desk.Still, it remains to be seen whether the bills will move forward and become law. And even if federal and state lawmakers do pass a robocalling bill, that doesn’t mean that scammers won’t be one step ahead with technology or be deterred by potential fines.Learn more about payday loans, scams, and cash advances, and chec k out our city and state financial guides, including Florida, Indiana, Illinois, Kansas, Kentucky, Missouri, Ohio, Texas, and more.Visit  OppLoans  on  YouTube  |  Facebook  |  Twitter  |  LinkedIn

Research Paper About Leonardo da Vinci

Research Paper About Leonardo da Vinci According to Spielvogel, Leonardo da Vinci was one of the greatest Italian Renaissance artists, which was once explained that a painter will create paintings of small merit if he shall use the work of other as a stand; but if he will study from natural objects, he shall bear good fruit, especially for those who shall use nature as their standard. This was the philosophy followed by da Vinci in the preparation of his paintings. As a renaissance artist, he considered the imitation of nature as his primordial goal. This has given rise to naturalism as he tried to persuade onlookers to see beyond the reality of the object that he is portraying; while at the same time, incorporating new standards, the depicts a new attitude mind as well by putting an emphasis on the human beings as the center and measure of all things. During the early Renaissance, da Vinci, together with his companions, maintained that it was Giotto who came from the 14th century, who first initiated the imitation of nature. This means that people who observed art became a world of reality that is presented to be a continuation of their own world. In fact, Western civilization changed organically, just as how the body’s form, structure and physiology change proportionally as it continues to develop. Leonardo da Vinci is known as a genius during his time and a man of inspired distraction. He was famous for being a man who had a reputation for not being able to accomplish things, but his ingenuity and uniqueness in the fields of arts and sciences has created a legacy that lasted for centuries. Though he may not have produced as much paintings as his contemporaries, he earned more by painting the fresco of the â€Å"Battle of Anghiari†, known as the Florentine victory. At the same, da Vinci was also distracted by a flight of birds, which led him to draw expansive notes on avian aeronautics, which made him discover human flight. He further explored the idea that a bird is a machine that can be operated by the use of mathematical law, and man has the knowledge and ability to duplicate a flying machine. Though this invention was unsuccessful, he focused his attention in creating several of his master pieces such as the â€Å"Battle of Anghiari†, the â€Å"Last Supperà ¢â‚¬  and the renowned â€Å"Mona Lisa†. Even though da Vinci’s early beginnings was identified with delays, he still managed to become a legacy that will live on forever. At 16 years of age, he was an engineer, creator of theatrical extravaganzas, designer of war machines and an occasional painter. In history, he is being given credit as the greatest Italian painter, sculptor and architect and whose brilliance and wisdom was beyond compare during the Renaissance. The famous work of art Mona Lisa had given him universal fame, along with the Last Supper. Later on his life, he became an excellent inventor, mathematician, engineer, naturalist and anatomist. In the field of anatomy, he discovered how the human body functions by dissecting more than 30 corpses. Edgar has reported that due to da Vinci’s imagination and innate skills, he was able to create moulds of organs such as the heart, the lungs and the womb of a mother. Another innovation that was introduced by da Vinci is the spatial considerations of taxonomy, which are comparable to modern, double-entry bookkeeping that has been codified during the Renaissance period. The double entry bookkeeping has transformed the confusing volume of data that is related to exchange of goods, while separating and classifying it on the basis of profits, losses, income and expenses, assets and liabilities. On the part of Da Vinci, he assisted in illustrating and including the very first definitive writing on double-entry bookkeeping. Nash adds that the overlap between art and technology was also expressed by da Vinci during the period 1452 to 1519 as the brilliant man of Renaissance, who both excelled in the two fields. He made important observations in mechanics and optics, by developing designs for various mechanical devices and has resolved issues on military engineering. Da Vinci has conceptualized that the paintings reflected divine creation to the highest degree possible, negating the principle of servility. According to Noble, Strauss, Osheim et al., da Vinci is famous about his plans, which were sometimes prophetic which consisted of bridges, fortresses, submarines and airships. This clearly shows how da Vinci has contributed in the field of engineering and is still up to this day continuously developing, owing to the exceptional knwledge that this man has established. In the field of painting, he left a signature mark in one of the painting technique that he developed known as â€Å"Chiaoscuro†, which makes use of a combination of light and dark in pictorial representation that presented aerial perspectives. The lines of his paintings also has shown horizons as muted, shaded zones, rather than with sharp lines, which has given inspiration to several modern day painters who followed the techniques of da Vinci. His analytical observations served as the utmost encouragement among his contemporaries. As a scientist, he was unique in such a way that he overruled those arguments and ideas based on the boundaries set by the ancients. But rather, he expressed his advocacy for the study of the natural world. This is one of the worthwhile contributions of da Vinci that changed the course of Western Civilization. Despite his lack of education and having been raised in a village that was outside of Florence, he was able to prove to the world that he can rise above the rest amidst all adversities in life. His indifference from the humanistic milieu from the city was able to set a legacy through his artistry which was comparable to his formerly schooled superiors. During one of his personal writings in his journal, he admitted that he is fully aware that though he was not a literary man, because some people consider him unworthy of recognition pointing to the reality that he is not a man of letters. However, da Vinci was brave enough to defend his inadequacy for classical education by arguing that all the best writing, just like invention is purely based on the close observation of nature. This, da Vinci’s practicality, sensibility and reasonableness has earned him a mark in history that no other schooled contemporary can surpass. In addition, according to Jackson, Leonardo also participated in the field of psychological and psychoanalytical etiology of male homosexuality through the study of Freud’s theory on male homosexuality. There is a passage in the work of Leonardo in which Sigmund Freud reinforces the repetitive history of the normative heterosexual male and the failure to conform to Oedipal orthodoxy. Da Vinci was able to evaluate the imbalance binaries of science and art through his scientific investigation, which is regarded as a more mature sublimation, which is more in keeping with the principle of reality, than the earlier sublimation of scopophilia in his art works. In fact, Freud lauds the artistic work of da Vinci as more â€Å"homosexual† than his scientific curiosity since his scientific thinking became a big contribution in the cultivation of Western civilization, whose sophistication has far exceeded his own time. Freud has labeled da Vinci’s scientific research as a sublime accomplishment and far greater than the prestige brought about by the works of art. The career of da Vinci is magnified by his intellectual prowess, while humanity succumbed to the attraction of a great and mysterious man who has contributed in the development of the Western civilization. Therefore, it is undeniable that significant role Leonardo da Vinci during the period of High Renaissance Art has influenced Western civilization. Da Vinci, despite his lack of classical education was able to prove to the world that greatness cannot be measured by literary compositions, but rather, the supreme invention can be made through close observation of nature. References Byfield, Ted. Renaissance, God in Man. Canada: Mc Callum Printing Group, 2010. Jackson, Earl. Strategies in Deviance: Studies in Gay Male Representation. USA: Indiana University Press, 1995. Noble, Thomas, Strauss, Barry, Osheim, Duane et al. Western Civilization, Beyond Boundaries, 1300-1815. California: Cengage, 2010. Rosenberg, Gary. The Revolution in Geology from Renaissance to the Enlightenment.Colorado: Geological Science of America, 2009. Spielvogel, Jackson. Western Civilization. Boston, MA: Cengage, 2012. Thorpe, Edgar.The Pearson Guide to LLB Entrance Exams. India: Pearson Education, 2008.

Combating the Illegal Trade of Drugs - 1110 Words

A drug or medication could be a material, which can have remedial, psychoactive, performance intensifying or different effects once eaten or place into a persons body or the body of another animal and isnt thought of food or solely a food. Most substances are mostly seen to as medication instead of food, and they differ between cultures, that is, most countries see most alleged medication and food and the other way around and besides, variations regarding medication, foods and regarding sorts of medication area unit preserved in laws. These rules vary amongst area unities and are planned to limit or thwart drug use. More so, even at intervals a district, conversely, the prominence of a fabric is also indeterminate or challenged with†¦show more content†¦Their effective rehabilitation would end in huge social, economic, and health edges. Whether or not those that become alcoholic are people we associate and live with on a daily basis, we tend to should facilitate them become more sob in order that they will fancy full, productive lives (Interdiction). Over the years, drug laws are instated in numerous countries around the world. Some countries like capital of The Netherlands have legalized the utilization of medication; some legitimize medical use et al. disapproves. Countries just like the US of America have laws altogether states and at the national level, utterly forbid the possession, production, and merchandising of evident meticulous materials Drugs like cocaine, heroin, marijuana, etc. unlawfulness of medication largely depends only on its usage. A typical example is amphetamines. Its suggested in treating attention deficit disorder. Another is barbiturate; it helps resolve nervousness, and marijuana will aid ease cancer-induced repugnance. However while not prescriptions and unendorsed use of those substances are believed to gift a danger to people and to society so so. (Laws) Other ways of combating the illegal trade and develop drug interdiction education is by the use of Anti-drug messages sent through multiple shops have evidenced effectively inShow MoreRelatedThe Border Of The United States1101 Words   |  5 Pagesthe past decades. It has been the primary source of the illegal trades into U.S. from Mexico. Despite the government efforts to end the act, there have not been long-term solutions to the Menace. The vital approach is to understand the structural nature of the border and the socio-cultural nature of the inhabitants that facilitates the illegal act across the border. The lawful bill in place seems not to offer a practical solution to combating the problem. The existing border and immigration policiesRead MoreThe Border Of The United States1017 Words   |  5 Pagesthe past decades. It has been the primary source of the illegal trades into U.S. from Mexico. Despite the government efforts to end the act, there have not been long-term solut ions to the Menace. The vital approach is to understand the structural nature of the border and the socio-cultural nature of the inhabitants that facilitates the illegal act across the border. The lawful bill in place seems not to offer a practical solution to combating the problem. The existing border and immigration policiesRead MoreThe Peoples Republic of Bangedesh is Combatting Drug Trafficking863 Words   |  4 PagesThe People’s Republic of Bangladesh adheres to the international effort in combating the illicit trade of drugs through multiple United Nations treaties such as the 1961 First Convention on Narcotic Drugs, the 1971 Convention on Psychotropic Substances, and the 1988 Convention against the Illicit Trade in Narcotics Drugs and Psychotropic Substances. Bangladesh stresses the need of addressing the illicit trade of drugs within the respective borders of Member States alongside an active participationRead MoreHuman Trafficking And Its Effects On The World1105 W ords   |  5 PagesThere is a depression notion that the human race is willing to do anything to make money. Across the world, people are creating illegal markets at the expense of other in order to achieve profits. Some have small environmental impact while others affect the world significantly. Some markets that are well documented in media, and are more well known throughout society are drugs, human trafficking, and slavery. These are serious markets that need to be abolished, but have a small impact on the environmentRead MoreHuman Trafficking And Its Effects On The World1103 Words   |  5 PagesThere is a depression notion that the human race is willing to do anything to make money. 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The ICE also provides assistance to other nations with intelligence sharing, dataRead MoreThe International War On Drugs976 Words   |  4 Pagessimple: the international war on drugs has been all but successful. Regardless how overwhelming the combative forces against illegal drug trade may be, the combination of a non-authoritative state with powerful and wealthy organized crime syndicate s result in overall weak state efficacy. This rise in drug trafficking, along with an increase in local drug production and consumption, is a major challenge in the pursuit of peace, stability and security. The current drug situations in Africa reveal theRead MoreGovernment Response Of The Netherlands And The U.s.860 Words   |  4 Pagesrecognize that the presence of drugs is the inevitable result of an open Western society. The principal main goal of drug policy in the Netherlands is to reduce the risks of drug use for the people who use them in their immediate environment and society in general. The idea is that the disadvantageous effects of drugs stem not only from the pharmacological properties of the substances, but also from the personality of the user and the conditions under which the drugs are used. In the opinion of theRead MoreA Brief Note On The United War On The Middle East And Southeast Asia Remains Unstable1503 Words   |  7 Pagesin the Middle East and Southwest Asia remains problematic. Though there are many problems within the Middle East, the narcotics problem in Southwest Asia remains one of the largest to date. It has been much debatable as to how to proceed i n the combating of Narcotics in Afghanistan. There are many debatable arguments for the quick pull out, of all private and U.S. contract personnel out of Afghanistan to realign the methods to attack on the narcotics flow. Afghanistan is the world-leading producerRead MoreEffects Of Medicines On The Pharmaceutical Industry1266 Words   |  6 Pagescountries, the population has massively turned to the illicit market, due to the absence of a pharmaceutical monopoly. In Burkina Faso, the illicit market accounted for 20-25% of the country s peripheral drug sales. In Benin, where the illicit market accounted for 40% of sales, 60 to 80% of the drugs were counterfeit, defects, under and overdosed products. In Guinea too, the illicit market accounted for 40% of sales. [6 Cf. ReMeD Journal, No. 22, Novembre 1999: â€Å"Marchà © pharmaceutique parallà ¨le, ventes

The Expansion Of The Old West Impacted And Changed

The westward expansion of the Old West impacted and changed, for better or for worse, the lives of many Native American tribes and individuals along with the settlers and those who remained back east. The settlement of the Anglo-Americans in the West influenced the lives of the Native Americans living there throughout the spread of foreign food and crops, disease, culture, animals, and ways to live. The settlers and Native Americans both influenced each other greatly, positively as well as negatively. President Thomas Jefferson purchased Louisiana territory from the French government for fifteen million dollars in 1803. The Louisiana Purchase nearly doubled the size of the Unites States and stretched from The Mississippi River to the Rocky Mountains and from Canada to New Orleans. Jefferson strongly believed that the key to a nation’s health was expanding westward. He believed that a republic needed an independent and virtuous citizenry for its survival, along with the belief that independence and virtue went together with land ownership, specifically the ownership of small farms. If Jefferson was to provide enough land for the yeomen, the United States would have to expand more. The most defining themes in nineteenth century American history is the westward expansion. Native American history before European contact is divided broadly into three major periods, the Paleo-Indian period, the Archaic period, and the Woodland period. Some scholars have found evidence thatShow MoreRelatedManifest Destiny And Westward Expansion Essay1447 Words   |  6 Pages1) OUTLINE: I. Topic sentence. Manifest destiny and westward expansion was a tremendous key component to the growth of the nation economically because of the impact it had on native americans, women empowerment, and expanding the population of the country. II. Significance of topic. 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They would regularly go to the west coast of India to trade different goods, like African goods, spices, and gold. As the Arabs began to convert to Islam, the religion carried to the coast of India. The first mosque in India was built in 629, it is called the Cheraman Juma Masjid. The mosque was made in the Indian state Kerala. Islam continued to spread into Indian cities, by immigration and conversion, as the Arab MuslimsRead MoreChanges and Continuity in Western Europe Essay769 Words   |  4 Pagesof contact and colonization, Western Europe’s economy, political, social, and military systems changed, but also maintained certain aspects that enabled them to build strong civilizations. Such changes include increased (international) trade routes, more centralized governments such as monarchies, decreased unifying influence of the Catholic Church, and increased interest in military conquest and expansion. 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In addition, some states also require various periods of residency before voting is permitted

Imf in Nepal free essay sample

During the end of the World War II, many countries started mulling the plight of the future world. There were valid concerns about reconstruction of devasted areas, and re-building and developing the war-hit economies. Remarkable decisions were made in Bretton Woods conference in 1944 to boost international trade and economic growth, and to achieve monetary stability in the global economy. Along with IMF (International Monetary Fund), IBRD (World Bank) and ITO (International Trade Organization) were the outcomes of the historical Bretton Woods Conference. However, in this report we focus on IMF as a financial institution and its activities and contribution in Nepalese economy. 1. 2 Objectives of the study †¢ To know about the IMF’s role in Strengthening the International Financial System †¢ To know the role of IMF in resolving economic crisis. To find out the impact of IMF in monetary policy. To know the IMF’s role to meet the changing needs of its member countries in an evolving world economy. †¢ To find out the impact of IMF in Nepalese economy. †¢ To know about the IMF lending in Nepal. 1. 3 Importance of the study The following are the points, which throw light on the importance of this fieldwork: †¢ It serves as the partial fulfillment of requirement of B. B. A. program. It has helped us to boost up our confidence. †¢ It has helped us to gain an experience of working in group. It might be useful for the other researchers, who can take it to be their guideline. †¢ It might be useful for the library, so that any student wanting to prepare a report on such field can have some ideas and basic guidelines. 1. 4 Limitations of the study This study has the following limitations: †¢ We had to collect the information in very short period of time so all the required information couldn’t be collected adequately. †¢ All expenses related to this project are managed by students themselves. We could not find information as the source of relevant information and data was only internet and book. The help and cooperation provided by the personal administration of the department was not sufficient. †¢ The researcher couldn’t go beyond the responses provided. Chapter 2 An introduction to IMF The IMF is the worlds central organization for international monetary cooperation. It is an organization in which almost all countries in the world work together to promote the common good. The IMFs primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to buy goods and services from each other. This is essential for sustainable economic growth and rising living standards. The IMF is an international organization of 185 member countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of mployment; and to provide temporary financial assistance to countries to help ease balance of payments adjustment. Since the IMF was established its purposes have remained unchanged but its operations—which involve surveillance, financial assistance, and technical assistance—have developed to meet the changing needs of its member countries in an evolving world economy. 2. 1 The origins of IMF The IMF was conceived in July 1944, when representatives of 45 governments meeting in the town of Bretton Woods, New Hampshire, in the northeastern United States, agreed on a framework for international economic cooperation. They believed that such a framework was necessary to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression of the 1930s. During that decade, attempts by countries to shore up their failing economies—by limiting imports, devaluing their currencies to compete against each other for export markets, and curtailing their citizens freedom to buy goods abroad and to hold foreign exchange—proved to be self-defeating. World trade declined sharply, and employment and living standards plummeted in many countries. Seeking to restore order to international monetary relations, the IMFs founders charged the new institution with overseeing the international monetary system to ensure exchange rate stability and encouraging member countries to eliminate exchange restrictions that hindered trade. The IMF came into existence in December 1945, when its first 29 member countries signed its Articles of Agreement. Since then, the IMF has adapted itself as often as needed to keep up with the expansion of its membership—185 countries as of June 2006—and changes in the world economy. The IMFs membership jumped sharply in the 1960s, when a large number of former colonial territories joined after gaining their independence, and again in the 1990s, when the IMF welcomed as members the countries of the former Soviet bloc upon the latters dissolution. The needs of the new developing and transition country members were different from those of the IMFs founding members, calling for the IMF to adapt its instruments. Other major challenges to which it has adapted include the end of the par value system and emergence of generalized floating exchange rates among the major currencies following the United States abandonment in 1971 of the convertibility of U. S. dollars to gold; the oil price shocks of the 1970s; the Latin American debt crisis of the 1980s; the crises in emerging financial markets, in Mexico and Asia, in the 1990s; and the Argentine debt default of 2001. Despite the crises and challenges of the postwar years, real incomes have grown at an unprecedented rate worldwide, thanks in part to better economic policies that have spurred the growth of international trade—which has increased from about 8 percent of world GDP in 1948 to about 25 percent today—and smoothed boom-and bust cycles. But the benefits have not flowed equally to all countries or to all individuals within countries. Poverty has declined dramatically in many countries but remains entrenched in others, especially in Africa. The IMF works both independently and in collaboration with the World Bank to help its poorest member countries build the institutions and develop the policies they need to achieve sustainable economic growth and raise living standards. The IMF has continued to develop new initiatives and to reform its policies and operations to help member countries meet new challenges and to enable them to benefit from globalization and to manage and mitigate the risks associated with it. Cross-border financial flows have increased sharply in recent decades, deepening the economic integration and interdependence of countries, which has been beneficial overall although it has increased the risk of financial crisis. The emerging market countries—countries whose financial markets are in an early stage of development and international integration—of Asia and Latin America are particularly vulnerable to volatile capital flows. And crises in emerging market countries can spill over to other countries, even the richest. Particularly since the mid-1990s, the IMF has made major efforts to help countries prevent crises and to manage and resolve those that occur. Globalization, poverty, the inevitability of occasional crises in a dynamic world economy—and, no doubt, future problems impossible to foresee—make it likely that the IMF will continue to play an important role in helping countries work together for their mutual benefit for many years to come. 2. 2 Purposes of IMF †¢ To promote international cooperation by providing the machinery for consultation and collaboration on international monetary issues †¢ To acilitate balanced growth of international trade and its expansion so as to contribute to the promotion and maintenance of high levels of employment and real income and to the development for the productive resources of all members as primary objectives of economic policy. †¢ To promote exchange stability and orderly exchange arrangements among its members. †¢ To foster a multilateral system of payments in respect of current transactions between members and seek elimination of foreign exchange restrictions which hamper the growth of world trade. To provide financial resources temporarily to correct maladjustment in BOPs. †¢ To shorten the duration and magnitude of payment imbalances. 2. 3 IMF’s Organization and Operation The IMF is governed by, and is accountable to, its member countries through its Board of Governors. There is one Governor from each member country, typically the finance minister or central bank governor. The Governors usually meet once a year, in September or October, at the Annual Meetings of the IMF and the World Bank. Key policy issues related to the international monetary system are considered twice a year by a committee of Governors called the International Monetary and Financial Committee, or the IMFC. A joint committee of the Boards of Governors of the IMF and the World Bank—the Development Committee—advises and reports to the Governors on development policy and other matters of concern to developing countries. The day-to-day work of the IMF is carried out by the Executive Board, which receives its powers from the Board of Governors, and the IMFs internationally recruited staff. The Executive Board usually meets three times a week, in full-day sessions, and more often if needed, at the IMFs headquarters in Washington, D. C. Of the 24 Executive Directors on the Board, 8 are appointed by single countries—the IMFs 5 largest quota-holders (the United States, Japan, Germany, France, and the United Kingdom) and China, Russia, and Saudi Arabia. The other 16 Executive Directors are elected for two-year terms by groups of countries known as constituencies. The Executive Board selects the IMFs Managing Director, who is appointed for a renewable five-year term. The Managing Director reports to the Board and serves as its chair and the chief of the IMFs staff and is assisted by a First Deputy Managing Director and two other Deputy Managing Directors. Unlike some international organizations (such as the United Nations General Assembly) that operate under a one-country-one-vote principle, the IMF has a weighted voting system. The larger a countrys quota in the IMF—determined broadly by its economic size—the more votes the country has, in addition to its basic votes, of which each member has an equal number. But the Board rarely makes decisions based on formal voting; most decisions are based on consensus. In the early 2000s, in response to changes in the weight and role of countries in the world economy, the IMF began to reexamine the distribution of quotas and voting power to ensure that all members are fairly represented. IMF employees, who come from over 140 countries, are international civil servants. Their responsibility is to the IMF, not to the national authorities of the countries of which they are citizens. About one-half of the IMFs approximately 2,700 staff members are economists. Most staff works at the IMFs Washington, D. C. , headquarters, but the IMF also has over 85 resident representatives posted in member countries around the world. In addition, it maintains offices in Brussels, Paris, and Tokyo, which are responsible for liaison with other international and regional institutions and civil society organizations, as well as in New York and Geneva, which focus on liaison with institutions in the UN system. The Geneva office is also responsible for liaison with the World Trade Organization. Evaluating the IMFs operations: In 2001, the IMFs Executive Board established the Independent Evaluation Office (IEO), which reviews selected IMF operations and presents its findings to the Board and to IMF management. The IEO operates independently of management and at arms length from the Board, although the Board appoints the IEOs director. The IEO establishes its own work program, selecting operations for review based on suggestions from stakeholders inside and outside the IMF. Its recommendations strongly influence IMF policy and activity.