Company Law Essay Example | Topics and Well Written Essays - 2750 words - 1

Company Law - Essay Example The House of Lords also held that once a company is incorporated, it acquires a legal status or personality that gives it the capacity to sue or be sued under its own name5. This implies that a company can file civil or legal proceedings against any person including the members who form it in its own name as noted by Talbot6. At the same time, the shareholders of the company can sue the company in its own name in case of breach. The House of Lords further noted that a legal entity in the form of a company exists perpetually; it is only when a company is liquidated or wound up that it stops to exist legally. This implies that the death of members of a company does not affect the existence of the company. Since the company is a separate entity, it will continue to operate even if all the members who formed it are dead7. This is attributable to the fact that the company will acquire other members such as through the issuance of shares or debentures to ensure its continuity8. The company can also employ workers in its own name to ensure its effective and efficient operation. Based on the precedence set by the House of Lords in Salomon v Salomon (1897) it is enshrined in English law that when an entity is incorporated, it is considered to be a separate legal personality. In this respect, the entity becomes separate from the individuals or organizations who take part in it. In other words, the owners and directors of the company or members of the company considered to be separate from the company. For a company that is limited by shares, the law assumes that it exists perpetually irrespective of the changes that may occur with respect to its constitution and membership. Furthermore, an incorporated entity can own any kind of property and hence has... This paper approves that the court further considered whether the subsidiaries were agents of the parent or not and analysed the situation from the corporate veil point. The Court of Appeal rejected the notion of treating the corporations as a single economic entity and held that the interest of justice did not feature as criteria for lifting the veil. The Court further held that that agency did not apply in the case much as sham and fraud did not apply in the same case. In making a ruling, the court noted that only three circumstances warranted the unveiling of a company; where a company is merely a facade, where a court is making interpretation of a statute, and when the subsidiary is an agent of the parent. This report makes a conclusion that a company is accorded equal treatment to that that may be given to any other independent individual. If for example, a sole trader incorporates his or her business and engages in contracts through the company as opposed to using his or her own name, then the company by law is not considered a trustee or agent of the sole proprietor. The existence of the new â€Å"person† that is the company survives its members, directors, shareholders, and employees for as long as it has not been liquidated or wound up. In as much as the Salomon case upholds the notion of separate legal personality, courts sometimes go to the extent of lifting the veil of corporation to establish the human faces behind the companies.

Two Gender System Essay Example for Free

Two Gender System Essay Setting out this boundary denies one the ability to express their sexuality freely: this may result in the discrimination and subordination of alternative forms of gender that society does not deem as â€Å"natural†. In other words, individuals who do not classify themselves as belonging to the main types of gender systems may be socially neglected and their sexuality, frowned upon. This essay will illustrate what society deems as â€Å"natural† and how the concept of gender and sexual diversity vary across cultures and historical periods. In addition, this paper will argue that the two-sex systems embedded in our society are not adequate to encompass the full spectrum of human sexuality. The â€Å"two-gender system† is defined as the classification of sex and gender into two biological categories of masculine and feminine: a social boundary used to prevent people from crossing or mixing gender roles, where the society divides people into male and female gender roles (Larkin, June. From lecture oct. 3, 2012). This binary system forces an individual to fit into one of the two categories of male or female. This bipolar categorizing of sexuality however does not and cannot encompass the full range of human sexuality. According to statistical analysis, it is said that out of 1,000 children born, seventeen children are intersexual (Fausto-Sterling, 2010, p. 14). The 1. 7 percent, though it is an estimate, is not a small number: theses intersexual individuals will feel out of place and/or easily uncomfortable in society that imposes a two-sex system. In addition, children born with both male and female anatomies as well as genitals are more likely to develop grave psychological frameworks when forced to obey the socially accepted two-gender system. The genital ambiguity in newborns is seen to be a medical emergency and in most cases, the newborns undergo surgery. Psychologist Dr. John Money further highlights this argument by claiming that gender identity can be changed and enforced upon up to eighteen months after a baby is born (Fausto-Sterling, 2010, p. 15). In the case of John/Joan however, the sex reassignment was unsuccessful. The doctors performed the procedure on John, who then was surgically turned into â€Å"Joan†. The case, although codified as John/Joan, was actually about an adult male named David Reimer. David eventually turned to masculinising medication, rejected his female assignment, and committed suicide (Fausto-Sterling, 2010, p. 15). As one can learn from David Reimer’s case, children born with genital ambiguities are faced with confusion and psychological stress as they grow up. The two-gender system leaves no room for such people to freely express themselves and their sexuality. The patients in this case, upon being obliged to follow the decisions made by the physicians, are then expected to act â€Å"natural† in the gender that was chosen for them. It is clear that the gender system embedded in society is not holistic enough for all humanity to truly express their full spectrum of sexuality. To avoid such conflicts and controversy, society should implement a wider, holistic perspective on gender and sexuality so various forms of intersexuality can be recognized and accepted as a both natural and normal way of life. Science, taking a biological approach to the topic of gender, inserts that gender and sexuality is strictly determined by the innate biological organs that one is born with. Ajnesh Prasad, in an attempt to supplement this argument, claims that â€Å"sexual difference is commonly experienced as part of ontology rather than epistemology, as part of nature instead of culture† (Prasad, 2005, p. 80). Other scholars however, argue for both a cultural and a historical perspective in explaining this gender ambiguity. The cultural view is related to the historical perspective in that while colonizers took over these already domesticated societies, they enforced strict cultural gender roles and sexual relations in order to reflect what they deemed was natural. For example, when the English settlers invaded North America, they took it as one of their primary goals to colonize the way these indigenous people dealt with sexual relations and gender: â€Å"the western imperialism†¦governance of sexual relations was central in classifying the colonizer and the colonized into spheres of distinct human kinds while policing the domestic recesses of imperial rule† (Prasad, 2005, p. 81). The gender role that was enforced was one of heterosexuality: the argument that men should act masculine and females, feminine. Previously existing practices that did not reflect this Westernized notion of heterosexuality was heavily frowned upon and neglected. This ultimately led to the subordination of other such frameworks pertaining to gender and/or sexual relations. Historical events thus as evidence from the colonization of indigenous people, renders concrete that gender is not a concept that is biologically determined, but one that implemented and reinforced through culture. Moreover, the native settlers rarely linked, â€Å"biological† sex, gender, and sexual activity together. These Native cultures were not divided up between heterosexuals and homosexuals as contemporary â€Å"Western† societies were, and in their culture, cross-working and cross-dressing men and women belonged to the other gender or to a third gender that either combined male and female features: â€Å"Encounters [were made] with male and female ‘berdache’ [meaning prostitute]. These berdache were cross dressing, cross-working people who constituted a third gender of fourth gender in some of these indigenous cultures† (Kinsman, 1996, p. 92). There were not just two gender groups, but three or four gender groups for â€Å"biological† females, and these alternate-gendered people were seen as combining the spirits of the other two genders (Kinsman, 1996, p. 93). Furthermore, the societal notion of what composes a widely accepted gender and sexual relation is extensively dependent on the culture and the fabrication of historical intervention. In conclusion, the two-gender system advocates the individuals in society to be defined as either male or female and sets limitations for individuals who do not fit into specific categories imposed on them. As a result, intersexuals or individuals born with genital ambiguity face discrimination and is forced to accept what is widely accepted as â€Å"natural† gender in society. Moreover, taking a scientific approach to gender, many argue that sexuality is determined by nature, what genitalia one is born with, but taking on a historical and cultural view, the issue bag to differ. As seen from the indigenous people and the way how two-spirited gender roles work in their society illustrates that the concept of gender is not singular and is determined by culture and society one is exposed in. The two-sex system enclosed in society is not adequate to encompass various forms of sexuality, so rather than confining one’s view to society’s ways, we should raise awareness for wider perspective on gender and sexuality to allow various forms of sexuality can be recognized.

Supremacy of European Union Law Over National Law: The Factotame Case E

The establishment of the European Union gave birth to various institutions, which bring order and reform to member states. One of these institutions which is extremely important the European Court of Justice as it interprets the laws of the European Union and makes sure that all the laws are applied in the same with in all of the European Union countries. Aside from interpreting laws it also settles legal disputes between the European Union government and the various institutions in the European Union. The jurisdiction of the European Court of Justice encompasses: solving disputes from country to country and within an institution, individuals, companies or organization, if the European institution threatens rights. One such case, which was brought forth by an individual to the court, is the Factotame case. Before we embark upon why the Factotame case was brought fort to the court it is extremely important for us to know about the composition of the European Court of Justice. The court is made up of twenty-seven judges, one from each member state. There are eight â€Å"advocates – general† whose job is to present opinions on cases, which are brought before the Court. The appointment of judge and advocate general is determined by each member state of the European Union and they are appointed for a six-year renewable term. Due to the large number of cases brought forth to the European Court of Justice, in an effort to better serve the constituents the General Court decides over certain cases. The General Court decides over cases that encompass private individuals, companies and organizations. The court has a President, which is elected by all the judges for a renewable term of three – years. The primary j... ...ate of discrimination of any sort and it will not tolerate any acts that are passed any government, which promotes discrimination of any sort. Works Cited "Clients." Thomas Cooper:Factortame The Background. N.p., n.d. Web. 26 Nov. 2013. . The Common Fisheries Policy. N.p., n.d. Web. 26 Nov. 2013. . "Court of Justice of the European Union." EUROPA -. N.p., n.d. Web. 26 Nov. 2013. . "European Court of Justice." European Court of Justice. N.p., n.d. Web. 26 Nov. 2013. . Ian Bache, Stephen George & Simon Bulmer, Politics in the European Union, Oxford University Press, 2011.

Boundaries of Destiny, Fate, Free Will and Free Choice in Oedipus the K

Boundaries of Fate and Free Will in Oedipus the King    The ancient Greeks firmly believed that the universe was guided strictly by order and fate. In Oedipus the King, Sophocles has examined the relationship between free will and fate, suggesting that free will paradoxically exists inside the boundaries of fate. It may be concluded, however, that man has free will and is ultimately held responsible for his own actions.    Oedipus' destruction was brought about by a combination of fate and free will. He was a victim of fate for it was foretold at his birth that he would marry his mother and murder his father. This prophecy, as warned by the oracle of Apollo at Delphi was unconditional and inevitably would come to pass, no matter what he may have done to avoid it. His past actions were determined by fate, but what he did in Thebes, he did so of his own will.    Oedipus took many actions leading to his own downfall. Oedipus for one could have waited for the plague to end, but out of compassion for his suffering people, he had Creon go to Delphi. Another action that hastened his downfal... ...sunderstanding the Oedipus Rex." Twentieth Century Interpretations of Oedipus Rex: A Collection of Critical Essays. Ed. Michael J. O'Brien.   New Jersey: Prentice-Hall, 1968.   17-29.    Knox, Bernard M. W.   The Heroic Temper: Studies in Sophoclean Tragedy. Berkeley: U of California Press, 1964.    Segal, Charles. Oedipus Tyrannus: Tragic Heroism and the Limits of Knowledge. New York: Twayne Publishers, 1993.    Sophocles.   "Oedipus Rex."   An Introduction to Literature, 11th ed.Eds. Sylvan Barnet, et al.   New York: Longman, 1997.   

Fdi in Lithuania

Foreign Direct Investment (FDI) occurs when a firm invests its resources in business activities outside its country (Hill, 2002, pp. 8). This essay will critically evaluate the impact of inward FDI in an emerging economy of Lithuania. First it will be looked at the impact of FDI on technological development and its importance for a country, particularly in Lithuania. Further discussion will be carried to effects on competition and its development, some negative side effects will be mentioned. Later it will be looked at what effect FDI has on Lithuanian national sovereignty and autonomy. Finally conclusions will be provided. Technological diffusion plays central role in the process of economic development (Borensztein, 1995). Emerging economies domestic growth rates are highly dependent on the growth rates of the rest of the world. Therefore, economic growth rates of emerging economies such as Lithuania depends on the extent of a â€Å"catch-up† process in level of technology by adopting and implementing it from leading countries such as for example United States. The main reason is that developing countries lack their own resources in developing own indigenous product and process technology. Such countries must rely on FDI by advanced industrialized nations and multinational corporations (MNCs) for much of technology required to stimulate economic growth. Findlay (1978) claims that FDI increases the rate of technical progress in the host country. Lets look at the example of Mazeikiu Nafta – the largest oil refinery complex in the Baltic region. Lithuania was not able to keep up with technological advances, therefore from early 1980 it had to trust on FDI from other countries. Back then with help of Soviet Union it was one of most modern oil refineries. Later on after the collision of Soviet Union Lithuania was unable to keep up with technological changes so it started inviting foreign investors. One of them was US based MNC Williams International, which promised reconstructing the refinery. However due to legal reasons acquisition was stopped and new investor from Russia came. Yukos promised to modernize and bring Mazeikiu Nafta’s production to western markets. One of the biggest project’s with Yukos was the completion of Bugtine Terminal for crude oil export and import. One of other positive contributions of FDI to a host economy is the upply of capital, management techniques and skills. MNCs have world vide access to individuals with more advanced skills and knowledge. Local employees can easily transfer knowledge and skills from more advanced companies to local firms or even set their own firms. New organizational practices and management techniques are also brought to country with FDI. Local firms copy them in no time. This happened in Lithuania. Latvian company â€Å"Double-Coffee† opened their restaurant in Lithuania, because there was a good market opportunity as there were no other coffee shops. Pretty soon there were other local coffee restaurants and coffee shops that opened for instance â€Å"Coffee Inn†. This was a clear result of knowledge transfer by FDI. FDI by Latvian company had an effect on competition and economic growth of the industry. Adequate level of competition leads to efficient functioning of a market. With different coffee shop brands in Lithuania consumer choice has increased, therefore prices have been driven down this way the economic welfare of consumers was increased. Increased competition tend to stimulate capital investments by firms in plants, equipment, and R&D as they struggle to gain an edge over their rivals (Hill, 2002, p217). FDI in coffee shop industry had a positive impact on service quality, because here export was not an option so it had to be produced where it is delivered. Despite all the positive effects FDI had some negative ones too. In grocery store market some foreign MNCs came into the country which have greater economic power than some local ones. Swedish â€Å"Rimi Baltic† was one of the first big MNCs to come into this sector, then â€Å"IKI† followed. They have â€Å"crowded out† local grocery store â€Å"Lenstata†. â€Å"Lenstata† was unable to reach maturity for full competitiveness against foreign competition, the maturig process also didn’t take that long so that the discounted preset social costs could outweigh the social benefits. Other small town local shops were also crowded out because they simply couldn’t offer same variety of goods. Crowding out in this sector in Lithuania can impose a long-term cost on its economy it if holds back the development capabilities or retards the growth of local innovative base. FDI in Lithuania has some negative impacts on national sovereignty and autonomy. FDI from Yukos, â€Å"Rimi Baltic† or other MNCs can cause some loss of economic independence. Key decisions that may affect economy are now made by MNCs controlling such important sectors as for example oil refinery or grocery store industry. The concern is that the governments has no real influence over this. For such as small economy a Lithuania’s this is a threat, because foreign MNCs have no real commitment to the country, however very real impact on its economy. To conclude, this essay has looked at what impact does FDI have on Lithuanian emerging economy. Using various sources evidence was provided to support statement that technological development has an effect on countries overall development. The case of â€Å"Mazeikiu nafta† was mentioned, evidence on what impact foreign MNCs on company’s technological development have was provided. Further discussion was brought to economic impact, example of what positive impact did FDI from Latvian MNC have on Lithuanian coffee market was given. Negative impacts on the economy of Lithuania were also mentioned and the example of grocery stores was provided. References: Borensztein, E. & De Gregorio, J. Lee, J-W. , (1998). â€Å"How Does Foreign Direct Investment Affect Economic Growth? † Journal of International Economics, vol. 45(1), pages 115-135 Coffee Inn, (http://coffee-inn. lt/blog/apie) [Accessed: 05/12/2009] Double Coffee , (http://www. doublecoffee. lv/eng/company/history/) [Accessed: 05/12/2009] Hill, Charles W. L. (2009) International Business: Competing in the G lobal Marketplace, 7/E, McGraw-Hill Irwin. Lideika, Petrauskas and Valiunas, Doing business in Lithuania (http://www. lexmundi. com/images/lexmundi/PDF/guide_lithuania. pdf) [Accessed: 30/11/2009] Mazeikiu nafta AB annual report, (http://www. orlenlietuva. lt/repository/pdf/reports/Annual99. pdf) [Accessed: 07/12/2009] Mazeikiu Nafta (http://www. randburg. com/li/maznafta. html) [Accessed: 07/12/2009] New Nations, (http://www. newnations. com/Archive/2002/November/lt. html) [Accessed: 07/12/2009] OECD, Reviews of Foreign Direct Investment, Volume 13, Lithuania RIMI Lietuva, (http://www. rimi. lt/apie-rimi/rimi-lietuva/rimi-istorija/199) [Accessed: 05/12/2009] UAB â€Å"IKI† (http://www. iki. lt/lt. php/apie/dabar) [Accessed: 05/12/2009] World Investment Report (1999), UNCTAD.

World Economies Top 10 Exporters and Importers in the World

World Economies Top 10 Exporters and Importers in the World Introduction As the world globalizes and liberalization of free trade advocated for, countries are looking for what they can produce cheaply and best in order to reduce the cost of production involved lessening the strain to world’s resources which are at an alarming declining rate. Any country in the world has got the resources it is well endowed with and the resources it is poorly endowed with.Advertising We will write a custom essay sample on World Economies: Top 10 Exporters and Importers in the World specifically for you for only $16.05 $11/page Learn More Thus, with trade liberalization specialization has been boosted as countries can produce their specialty cheaply, trade with others, and still have the purchasing power of what cannot be cheaply produced within their own countries. To succeed in this, the country needs to evaluate its critical success factors to enable it succeed. To enable trade all over the world there has been an establishme nt of an international body which looks into trade matters, the World Trade Organization. WTO was created in the year 1995 though it has been working since 1945 under the GATT guidelines. Contribution of UAE in International Market with Respect to Goods and Services According to a WTO report, the United Arab Emirate success in trade (both locally and at internationally) has mainly been supported by its liberal and multifaceted economy which is characterized by low trade barriers. â€Å"The economy has been growing steadily at around 6% per year in the last 10 years and slightly higher at 9% in the period between 2003- 2005† (WTO Press Release Par. 2). The country fares well in the international trade with its exports spread across the whole world. According to the statistics of 2004, the European commission was the lead market for the country’s exports while Asia was the main source of its imports (see table 3 in appendices). This might have led to its’ success as the raw materials are sourced from around the continent giving the country an upper hand in cutting down the cost of production involved. The European Commission is the major market for the United Arab Emirates as table 4 in appendices indicates. The country is a major exporter of oil products (Moore 2008). The country is also a lead exporter of merchandise trade as shown in table 1. The country lies at position 19 as of 2007 statistics. Despite the country success it has been faced by trade barriers within, which makes it difficult to conduct business within the country due to their restrictive polices, weak institutions, and lack of competition (WTO press release 2006).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Top Ten Exporters and Importers in World Merchandise Trade The critical success factors of the world top ten exporters and importers lies on the efforts thes e countries have been making to open up of their economies coupled with different economic strategies and initiatives being initiated by these countries. For the top ten exporters and importers of merchandise trade our focus shall be centrally on China due to its emergence as a world economic leader in the near future. As we have seen, China is the leading exporter of merchandise trade while the United States is the lead importer of merchandise in the world as per the statistics. China’s success factors have simply been based on the fact that the country has a huge market due to its large population size and economy is growing holistically across all sectors. For example in the year 2008, China surpassed the United States of America as the world leader in the production of electronics such as the laptops and mobile phones. With its growing population, the country has grown to become the second largest car market in the world and could surpass United States of America by the e nd of the year 2010 if the expected sales are achieved as predicted. The country’s middle class population is estimated to be around half a billion and if the middle class continues to grow in this country you can expect the market share of China in the world’s market to increase. Another critical success factor has been that China operates the third busiest port after Hong Kong and Singapore thus with the capability of the Shanghai’s port becoming the largest shipping port in the near future, the prospects of China are still bright as ever. As the above figure shows, the country has the largest world GDP share after the United States of America and with its growing population of more than 1.3 billion people China will continue to be a big market destination. China has got the highest literacy levels among the developing countries and this has been a success factor as it shows that the country has the capability of providing quality labor at low costs, which is difficult to be marched by other big economies such as the United States of America. The entry of China into the WTO has also been a major boost in enabling the country open its local markets for international investors. The country has been offering international investors a comfortable environment in which they can conduct trade by offering tax incentives, for example sometimes she offers tax waivers to foreign investors depending on the location of their investment projects (Cohen 2010.) In some places within the country, there exist free trade zones as the country increases its efforts to attract foreign investment in these areas. Despite the country’s success, many companies in China do not practice due diligence as most do not keep proper inventory of their records.Advertising We will write a custom essay sample on World Economies: Top 10 Exporters and Importers in the World specifically for you for only $16.05 $11/page Learn More Many companie s keep different records depending on the use for example you will find companies keeping books for government inspectors, investors, and for their own all with different entries but referring to the same accounts. The banking system is also suffering from in active loans for example statistics show that in the year 2008, bad debts were to the extent of more than 50 billons American US dollars (Kang, Kim, Sun, Jones Zangh 2010). Among the European Union members, Germany lies second in exporting and third at importing in the merchandise trade and it is the leading in Europe and her critical success factors have been attributed to the fact that just as the other countries, Germany has embraced an open economic system. As observed by Hamilton Quinlan (2008) evidence shows that, â€Å"The German economy is the world’s fifth largest, measured by purchasing power parity, and of the five is the most tightly tied to the global economy – more than the U.S., China, India or J apan. Germany is also the world’s #1 exporter of goods and the #3 exporter of services. Germany accounts for only 1.5% of the world’s population yet in recent years it has actually boosted its share of global markets.†(p. 2). The growth has been achieved despite pressure from other emerging economies like China and India who boasts a high population in their countries compared to Germany. The Top Ten Exporters and Importers of Commercial Services The critical success factors on the top ten importers rely on country policies and our focus here shall be on the United States of America for its role as the global leader for a very long period. The United States of America is the global leader at both importing and exporting of commercial services as from 2009 statistics shown in table 2. European Union countries comprising of the UK, Germany, France and Spain among others contribute to more than 25% of the market share with China having a fair share of 3.8%. As noted by Gutierrez (2007) before the economic crisis in the year 2008, there was evidence that the US economy had grown at a rate of â€Å"3.3% in 2006 and the country’s exports had grown to 13% in 2005 and imports by 10% over the same period† (p.5). The factors which have made the US a major success in the world of exports has been its’ huge growth as well as the trade promotion authority which has enhanced free trade agreements between the country and other countries. With the highest percentage of consumers being outside the United States of America, the World Trade Organization plays a key role and the Doha talks if succeeds will enhance an increase in US exports to other countries around the world.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Gutierrez (2007) experts argue that â€Å"American competitiveness in the global market is due in large part to an economy and culture that welcome and encourage innovation and flexible open markets† (32). The other leading EU countries include the United Kingdom, Germany, France, Spain, Italy and Ireland with China and Japan coming there in between. Fastest Growing Traders Among the fastest growing traders in the world are China, India, Brazil and lately Qatar, though its economy size is small compared to the others. These countries emergence as fast traders has been attributed to their rising populations due to their large size thus giving them a chance for a large internal market and room for external market demands depending on their needs. That’s why in the recent past, less developed countries have been relying on India, China and Brazil to help them convince the developed to reduce barriers and tariffs in trade so as to ensure even the poor and the Less Developed Countries benefit from liberalization of trade (Wood 2010). These growing economies are expected to have an influence in the world of trade as we have seen in the case where Brazil has grown to the extent that it has of late disagreed with the UN on imposing economic sanctions on Iran over its role in nuclear weapons. Brazil has refused to impose sanctions on the country and it has grown into a position where it can sanction the United States of America after directions from the WTO for breaking the WTO guidelines (Dade 2010). Both India and China have the majority population at 37% expected to drop to 34% by 2040 and their share of the GDP expected to grow to 40 % (Srinivasan 2010). India success has mainly based on its growing population and the liberalization of trade, which provides a large market pool for the Indian goods and services. The free trade policies have enabled the country export and import its goods and services at cheap costs and with its latest inve stments in infrastructure, the country will continue to grow. Qatar has been another country from Asia which has been growing rapidly. As pointed out by Omran (2010), evidence shows that it has the â€Å"highest per capita income in the world and enjoys one of the fastest growing GDPs, reaching 13.3% real GDP, and valued in 2008 at over US$80 billion† (Par 1). he country’s economy has been expanding in every sector. The country has been expanding its investment for infrastructures and expansion of the economy in almost every sector. The liberalization of trade has also enhanced rapid and expanding trade in this country. With new oil fields being discovered daily and the petroleum products supply declining, Qatar will continue to grow rapidly. Conclusion As the world globalizes and it develops to a global village, interactions will increase and the country’s dependency on one another will continue to increase. From the study we can conclude that the United States of America remains a global leader in world trade though the role of emerging economies such as China and India cannot be underestimated. Countries that supply the world with oil products will continue to expand faster than other economies due to the latest importance of oil products in the world. Reference List Cohen, J. C. 2010. Hearing on Evaluating China’s Past and Future Role in the World Trade Organization Web. Available from: http://ecattrade.com/uploads/content/45D2497564D74299B3EF0F50A8A25D7A.pdf . Dade, C. 2010. Brazil Confirms It Will Impose Trade Sanctions against U.S Web. digitaljournal.com/article/288782 . Gutierrez, C.M. 2007. The 2007 National Export Strategy: Administration’s Trade Promotion Agenda Web. Available from: http://trade.gov/media/Publications/pdf/nes2007FINAL.pdf . Hamilton, D. S; Quinlan, P.J. 2008. Germany and Globalization Web. Available from: http://transatlantic.sais-jhu.edu/bin/u/k/GermanyandGlobalization-eng.pdf . International Trad e Statistics, 2010. World Trade Developments in 2009 Web. Available from: wto.org/english/res_e/statis_e/its2010_e/its10_world_trade_dev_e.htm . Kang, S; Kim, S.H. S; Sun, F; Jones, P; Zangh, D. 2010. China Acquisition Opportunities 2010 Morgen Web. Available from: morgenevan.com/pages/reports/China2010.pdf . Moan, G. 2010. ME traders Qatar Expo 2010 Web. Available from: http://tradeshow.tradekey.com/view-6408/me-traders-qatar-expo-2010.htm . Moore, M. 2008. The US-UAE Trade and Investment Relationship Web. Available from: usuaebusiness.org/view/resources/uploaded/USUAEWhitepaper.pdf. Srinivasan, T.N. 2010. Economic Reforms, External Opening and Growth: China and India Web. Available from: apeaweb.org/confer/hk07/papers/srinivasan.pdf . Wood, C. 2010. What’s needed for the Doha Round to Move Ahead? Web. Available from: http://shopfloor.org/tag/wto. World Trade Organization Press Release, 2006. Trade Policy Review: United Arab Emirates (UAE) Web. Available from: wto.org/englis h/tratop_e/tpr_e/tp263_e.htm .

Proposal for redesigning the selection and assessment process for Graduate Recvruitment The WritePass Journal

Proposal for redesigning the selection and assessment process for Graduate Recvruitment Introduction Proposal for redesigning the selection and assessment process for Graduate Recvruitment ). In other words, companies need to know they are looking for. Studies conducted in Small and Medium-sized enterprises (SME’s) have indicated a low refusal rate and a higher retention rate (Stewart Knowles, 2000). Perhaps then there is something to be learned about their recruitment strategies and process, as further research has shown that through assessment centre type approaches to recruitment, applicants are likely to form a negative opinion of the company if the assessment procedure is not effectively run with the correct feedback and information given to the candidates (Griffiths, 2011). There is clearly something to be learned therefore from the processes used by SME’s. In the SME research, a proposed application procedure was used that consisted of three sections. The first was assessing the company and the needs thereof, whilst the second was rating skills desired in potential candidates on a numerical scale determining importance with the final section using assessment criteria to determine if a particular candidate possessed the skills in relation to the second sections criteria. There is some debate around the importance of references at this stage of the selection process, however studies reveal that the vast majority of larger companies used these in the initial phase of recruitment to gain information about the personal qualities and honesty of the individual. Of the SME’s surveyed in the research, only about half made use of ability, literacy, personality or numeracy tests in the initial assessment. Interpersonal qualities, teamwork and leadership abilities were also considered. The highly technical nature of the field of data-communication makes general intelligence assessment desirable and the product-moment correlation between the Raven’s Matrices and the CPAB indicate that this is a generally effective measure of assessment. Whilst research has shown that generally leadership ability is not a highly ranked skill in terms of desirability amongst the SME’s, therefore the lower product-moment correlation may not be of overt significance. However, with that being said, if this is a personal preference of the company that their graduates possess higher leadership ability, this should be represented in the product-moment correlation. The success of an applicant in these tests is a separate indicator to the application forms, references and initial screening mentioned above.   With the data provided by HAL, there was a clear agreement between the outcomes of the second phase of interviews and the outcomes of the objective testing criteria. High Refusal and Turnover Rates There is some indication through research that the refusal and retention rate of a company may be directly related to the assessment and recruitment procedure itself. As the initial assessments and interview processes if conducted poorly can lead to a negative opinion of the recruiting company which in turn can lead to a higher refusal rate. Whilst the initial interviews and screening process see a large number of applicants, if it impossible to tell who the final graduates will be and therefore careful consideration of giving the correct impression needs to be made. There is likelihood that if a graduate is not impressed with HAL, they will not take the position being offered. Almost 40% of applicants surveyed felt that the application and assessment procedures did not allow them to showcase their particular skills, nor did it demonstrate any relationship with the job position applied for. Limited or no feedback given during or after the assessment also contributed to the formation of this opinion. The development of a favorable opinion was also significantly affected by the participation in the process by senior levels of management (Griffiths, 2011). It is clear from the research that making a good first impression on the applicants is important in order to reduce the refusal rate. In addition to amending the initial application process, or possibly outsourcing it to a recruitment company, there needs to be a strong involvement by the company creating a link between the job applied for and the application procedure/criteria. Areas of possible improvement to this extent definitely include the second phase of the process i.e. the first interviews. More time should be put aside for the preparation and execution of these interviews to allow for maximum graduate assessment exercise. In making the first phase of assessment i.e. the initial application more thorough, the interviewers will be able to assess the strengths and weaknesses of the candidates beforehand a nd prepare accordingly to illicit the required information through preparation. It is also worth noting that this second phase of the recruitment process may also be handled by a graduate recruitment company who will then interview potential candidates on behalf of HAL to provide a shorter list of potential candidates for interview therefore resolving the time and budget concerns surrounding the recruitment process in the initial phases. There is a clear discrepancy between the various product-measure correlation data variables and it is likely that this has something to do with the refusal rate and ultimately the turnover of the staff. Importantly, there is no clear correlation between the proficiency levels demonstrated by candidates in the objective assessment tests and the salaries offered to those candidates in their first year. Whilst the personnel director does give weight to the overall opinion of the selection panel in deciding on the salary to be offered to particular candidates, it is clear that not enough weight is given to the outcomes of these general intelligence rating tests. Although not necessarily conclusive, when working in a highly technical environment, these technical or intelligence related skills may rank more highly than interpersonal skills or leadership abilities and this should be factored in accordingly. Likewise, for candidates interviewing for a managerial position that is not heavily dependent on technical or intellectual ability, more weight should be given to the outcome of the leadership assessment, as well as interpersonal and management related skills. It is clear from the data provided that there is no such correlation as the product-measure value is unusually low between the outcome of this test and the salary offered in year A and year B. Whilst it is fairly evident that the success or failure of the training provided to the incoming graduates may heavily depend on the recruitment process itself determining the potential caliber of successful applicants which will directly influence the outcome of these training programs. There is however another indication on the given data that may suggest a possible reason for the less than satisfactory outcome of these training courses and this is that perhaps these are not the correct training courses for the graduates to be undertaking. There is a clear correlation on the data between the psychometric tests, however this does not translate into success in the training courses. Arguably, the analytical skills required for the technicalities of data communication hardware and software are transferrable skills and this should translate well through vocational training courses. If not, there are conceivably two possible reasons why namely, the graduates employed are not being proper ly assessed in terms of determining their transferable skill set or the vocational training is not appropriate for the employers and employees needs. By reassessment of the kinds of training provided, it may be possible to improve the outcome of these training courses, as well as streamlining the training to cut back training expenses. There may exist alternative solutions to the current training modules. High turnover rates with staff is a complicated issue to address, however if one assesses the data given that two thirds of the staff leaving HAL were due to dissatisfaction or better opportunities elsewhere. This is not difficult to conceive when looking to other data such as the stagnant promotion channels and salary advancement. In order to improve retention rates, HAL will need to improve their strategies for salary increase and promotion. Although promotion is difficult to predict, because often it requires staff changes, salary increase strategies can be planned well in advance and factored into the budgeting. Although there is a general policy of even distribution, to offer a higher salary to a graduate without increase potential may well dampen the motivation of those employees leading to higher turnover rates. Recommendations Complete Overhaul of the Initial Application Procedure and Criteria Due to the concern over the budget of graduate recruitment process to the company, it may be the best option to outsource the initial phase of recruitment to a graduate recruitment company. Considering the amount of work that is necessary to determine the objectives of the company and design a recruitment strategy in accordance thereof and then later the time that will be needed to effectively assess the candidates in line with those objectives, it may be simpler and more cost effective to outsource this part of the recruitment process. Fortunately, the number of graduates required begins with a very large pool of applicants and the impersonal nature of the first phase of assessment can be conducted by a third party without experiencing any potential backlash. Thereafter, HAL will be given a smaller pool of candidates to assess which they can do more effectively as they will have time and budget unspent from having outsourced this initial phase. Key involvement by senior employees and an overall assessment taking into account the different requirements of the jobs specified will ensure that there is a good overall assessment of candidates. Reassessment of Weighting of Specific Criteria in Various Employment Roles HAL needs to determine the various important criteria for the various roles available in the company, as with different roles, there are different personal requirements and when dealing with interpersonal dependant roles such as management and a diametrically opposed technical role, one cannot weight skills of equal value to either. Therefore in more technical positions, psychometric testing and technical skills assessment will carry more weight, whereas in a management or sales position these will be of less significance, yielding to interpersonal and sales ability. Correlation Between Skills and Reward As a product of the reassessment of the criteria for employment roles, so surely there must be a correlation between these skills and the salary offered to the graduates. This will assist in lowering the refusal rate of the graduates offered positions as the graduates will be compensated according to individual skill and not according to an overall general criterion that may not be relevant. In addition, there must be careful considerations of budgetary requirements in so deciding, as in order to reduce turnover there must be the opportunity for salary increase. Reassessment of Vocational Training Whilst it is not clear what the cause of failure of the candidates in the training courses is, it is clear that there is the possibility of inappropriate training being given that is not necessarily relevant to the needs of the employees. It is necessary to determine the cause of the failure of candidates in these training courses and to develop a strategy to minimize the cost and maximize the output of these candidates. There is the possibility however that in employing a higher level of candidate made possible through reevaluation of the recruitment process that this problem may resolve itself, however this is unlikely. Time Frame Time Period Action Required Key Players 5 – 10 Days Meet with Recruitment Agency to discuss the objectives and assessment criteria for the role.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Director of Personnel HAL  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recruitment Agency 90 Days Phase 1: Recruitment Period – where the positions are advertised and applications are received.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recruitment Agency  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Graduate Applicants 10 – 15 Days Assessment Period for Phase 1 – Making a selection of 600 – 700 applicants out of the entire application bundle received.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recruitment Agency 15 – 20 Days Phase 2: Initial Interviews with potential candidates to assess their suitability for the roles and to determine the skill sets.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recruitment Agency  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Graduate Applicants 2 – 5 Days Assessment of the outcomes of the interviews with HAL and handing over of the applicable information and desirable candidates  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Recruitment Agency  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   HAL 20 – 30 Days Phase 3: Invitation to visit HAL offices, including a tour of the facilities, psychometric testing, skills analysis, leadership abilities and second round of interviewing  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   HAL  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Graduate Applicants 10 Days Assessment Period for Phase 3 – weighting of various criteria by the selection panel and short listing of desirable candidates according to rating criteria  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   HAL Selection Panel 5 Days Personnel director consulting the selection panel and finance department  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   HAL Personnel Director 5 Days Issuing of letters of appointment and rejection to all participants in Phase 3  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   HAL Personnel Director Deadline for acceptance or decline of offer  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Graduate Applicants Bibliography Jim Stewart Vanessa Knowles, (2000),’Graduate recruitment and selection practices in small businesses’, Career Development International, 5(1) pp. 21 – 38 Neal Schmidt (2012) The Oxford Handbook of Personnel Assessment and Selection Oxford: Oxford University Press Nicola Griffiths (2011) ‘Assessment Centres for Graduate Recruitment: The Graduate Experience’ [online] [cited 25 May 2012] Accessed on berkshire.co.uk/content/berkshire/assessment-centres-for-graduate-recruitment.pdf Tony Keenan (1995), ‘Graduate Recruitment in Britain: A Survey of Selection Methods Used by Organization’ Journal of Organizational Behavior, 16(4) Teresa Dahlberg, Tiffany Barnes, Audrey Rorrer Eve Powell, (), ‘Improving Retention and Graduate Recruitment through Immersive Research Experiences for Undergraduates’ [online] [cited 25 May 2012] Accessed on http://laurencairco.com/papers/sigcse.pdf High Fliers (2012) ‘The Graduate Market in 2012: Annual review of graduate vacancies starting salaries at Britain’s leading employers’ [online] [cited 25 May 2012] Accessed on highfliers.co.uk/download/GMReport12.pdf