Economics Essay Example for Free

Economics Essay 1. What did Keynes think some of the chief benefits and defects of capitalism were? Keynesian theory which was developed by Keynes advocates for a mixed economy where the government and private sector are important. In Keynesian model economy is assumed to be below full employment.   Keynesian argues that the aggregate demand for good which seek to increase employment of resources in the country is the driving force of an economy.   According to Keynes, the government’s role is to reduced unemployment rate and deflation level to enhance increased output in an economy (Baqliano and Bertola, 2003). Capitalism developed by Max argues that the poor in capitalistic society are so because of exploitation by the merchants who own the means of production and distribution.   The merchants are said to exploit the poor through low wages.   Marx argued that the value of any economic good should be determined by the labor used to manufacture.   Any cost that is higher than the cost of labor represents the surplus which is the profits the capitalists realize from exploitation of their laborers.   Marx believes that all means of production should be owned by the government or should control by the government.   Marx advocated for socialist government that owns the means of production or democratic administration that control them. Economists who include Keynes deny the claims of Marx that labor is the only measure for surplus.   According to Keynes who support capitalism, employers and employees are guided by the prevailing market wages hence employers offer employment to willing workers. John Keynes believes in capitalistic economy and called on the government to stimulate it but not eliminate it.   However, Keynes site defect in capitalism where he argues that capitalism does not promote full employment, wealth and incomes which the model seeks to achieve in the long run. Keynesian ideologies have been employed by politician but both abuse of the model, inflation has resulted.   This is evident with government manipulating policies to make economic conditions favorable during election which has led to high inflation in most state.   Action by government leads to reduce real wages and real incomes which do comply with Keynes model.   Capitalism has led to segregation of the society into strata according to income and wealth owned.   Most politician use Keynes ideologies by making promises that will earn them votes.   Implementations of the promises require higher taxation which reduces income of individuals (Baqliano and Bertola, 2003). Keynesian advocate for full employment which should be accompanied buy steady controlled inflation level as an effective means of guiding the economy in he interests of capital.   Keynes argue that real wages can be allowed to fall, government expenditure on schools, hospitals and infrastructure can be reduced as anti-inflationary measures and this inflationary measure should be continued until employment level desired is achieved. According to Keynes denied that unemployment is contributed by capitalism. However Keynes argued that unemployment in capitalism is brought by inadequate demand of personal articles of consumption and productive articles of consumption.   Keynes argue that inadequate demand is as a result of the workers tending to accumulate part of their incomes through savings and the inadequate demand   for productive consumption is brought by failure of people to invest their capital profitability which would lead to increase in output and hence reduced unemployment. Keynes advocates that employment can be increased by lowering real wages through inflation introduction and decreasing rate of interest.   Increased rate of interest will encourage investment of capital which will increase aggregate demand.   The government should then expand its budget to allow mass investment. Consumptive demand can be increased through increased extravagance of the ruling class; investing in war prone areas and increased non-productive expenses by the state.   The increased non-productive expenses to attain full employment of the population will actually lead to diminished living standards of laborers. Keynes in his support for capitalism argued that the workers should not be assisted to rise above the capitalists because capitalists who consist of intellectuals are the quality of life and they carry seed of achievement.   Keynes argued against socialism where the government owns the production. Keynes in support of capitalism advocates the governments to support monopoly.   The wage freezing policy by the federal government in Middle East helped increase the profits of the monopolies while lowering the living standards of the workers. Keynes argue that inflation bring about equilibrium position I n capitalism.   In Capitalism â€Å"Boom lead to increased profits and hence increased prices.   Production expands up to overproduction point where equilibrium is achieved through â€Å"boom bursting. 2. What is the `identification problem` in using econometric analysis? Identification problem in ecometrics involves solving unique values of the parameters of the structural model from the values of the parameters of the reduced form of the model.   Reduced form of a model presents a model where endogenous variables are expressed functions of exogenous variables. For example prices in a marker are determined by supply and demand, hence must establish the demand and supply functions.   However, the equation obtained by regressing quantity on market price cannot be identified specifically as either supply or demand function.   In special cases, we use regression to get demand function.   While holding supply function constant or vice versa, but cannot obtain regression while accommodating fluctuation changes in both (Baqliano and Bertola, 2003).

Aftircan American Progress in World War II Essay -- essays research pa

World War II, global military conflict that, in terms of lives lost and material destruction, was the most devastating war in human history. It began in 1939 as a European conflict between Germany and an Anglo-French coalition but eventually widened to include most of the nations of the world. It ended in 1945, leaving a new world order dominated by the United States and the USSR.   Ã‚  Ã‚  Ã‚  Ã‚  More than any previous war, World War II involved the commitment of nations' entire human and economic resources, the blurring of the distinction between combatant and noncombatant, and the expansion of the battlefield to include all of the enemy's territory. The most important determinants of its outcome were industrial capacity and personnel. In the last stages of the war, two radically new weapons were introduced: the long-range rocket and the atomic bomb. In the main, however, the war was fought with the same or improved weapons of the types used in World War I. The greatest advances were in aircraft and tanks.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"For African Americans, World War II was a fight on two fronts. It was a struggle to prevail over the nation’s external enemies and a battle against a familiar home-grown foe: bigotry† (Allen). When World War II began in Europe in 1939, blacks demanded better treatment than they had experienced during World War I. Black newspaper editors insisted during 1939 and 1940 that black support for this war effort would depend on fair treatment. They demanded that black soldiers be trained in all military roles and that black civilians have equal opportunities to work in war industries at home.   Ã‚  Ã‚  Ã‚  Ã‚  African Americans were some of the quickest and most energetic to condemn the risings of fascism in Europe. They instantly understood the risks Nazism and its Aryan doctrines imposed on the world. Some had read Hitler’s Mein Kampf and had taken offense to its unfavorable comments toward blacks. It was also claimed that in 1936 Hitler had refused to treat African American Olympic stars Jesse Owens and Ralph Metcalf with common decency in Berlin. Also the knockout of the black idol Joe Louis in 1936 by Max Schmeling had fueled some bitter emotions toward Nazism and it was fueled once again when Louis exacted his complete revenge in 1938.   Ã‚  Ã‚  Ã‚  Ã‚  At the beginning of the war Afri... ...seat at the back of the bus. Robinson refused. â€Å"He was arrested and court-martialed for â€Å"disrespectful† conduct and disobeying orders, he was acquitted, but the incident prevented him from going overseas with the 761st† (Allen). Robinson would go on to become the first black baseball player to integrate the major leagues. â€Å"The World War II experience was a watershed for African Americans. Jim Crow remained intact, but the ideological bases of white supremacy and colonialism were undermined by the horrors of the Holocaust† (Earle 87). The war experience gave about one million blacks the opportunity to fight racism in Europe and Asia, a fact that black veterans would remember during the struggle against racism at home after the war. Perhaps just as important, almost ten times that many white Americans witnessed the patriotic service of black Americans. Many of them would object to the continued denial of civil rights to the men and women beside whom they had fought. After World War II the momentum for racial change continued. Black soldiers returned home with determination to have full civil rights. President Harry Truman ordered the final desegregation of the armed forces in 1948.

Kant Categorical Imperative Essay

Kant’s Categorical Imperative is made up of two formulations, Formula of Universal Law and The Formula of the End in Itself. The first formulation is best described by the following statement, â€Å"Act only according to that maxim whereby you can at the same time will that it should become a universal law without contradiction. † (Kant, 1785, 1993). What does this mean? A maxim is the fundamental rule of conduct or your moral belief upon which you chose to act. A universal law is a law that everyone must follow regardless of the outcome. How do we determine if the maxim can become universal? One of the first things to do is to ask yourself if it would be acceptable that everyone do the same thing that you are considering doing in that situation. We were given several examples in The Elements of Moral Philosophy and the one that made the most impact was â€Å"suppose a man needs money, but no one will lend it to him unless he promises to pay it back-which he knows he won’t be able to do. Should he make a false promises to get the loan? † (Rachels, 2012). If this happened the maxim or universal rule would be anytime you need a loan tell a lie that you will repay it and you will get the loan. This is not something that everyone would be willing to do because you will no longer believe others when they tell you this statement and no one would be willing to make the loans. The second thing you should do to determine if the maxim can become universal is look at your answer to the first question. Did you say â€Å"yes, I think that everyone will do it? †. If so, then ask yourself if it makes rational sense to want everyone in the same situation to do what you are contemplating doing. If your answer was no to either question then your maxim cannot become universal law because it is not considered moral. Overall, based on Kant, an act is morally right only if the primary rule of behavior, which is how you decide to act morally, can constantly and universally relate to you and others. The second formulation is best described by the following statement, â€Å"Act in such a way that you treat humanity, whether in your own person or in the person of any other, never merely as a means to an end, but always at the same time as an end. † (Kant, 1785, 1993). Basically, this means that morality consists of doing your duty to treat people, including yourself, and an end, never as a means to an end. Kant combined the second formulation with the first because we have a perfect duty to not use the humanity of ourselves or others merely as a means to some other end. Most ends are somewhat subjective because they need only be pursued if they are in line with some particular hypothetical imperative that a person may choose to adopt. (Categorical Imperative Explained, 2012). The second formulation also leads to the imperfect duty to further the ends of ourselves and others. If any person desires perfection in themselves or others, it would be their moral duty to pursue that end for all people equally, so long as that end does not contradict perfect duty. The question of whether or not Kant adequately addresses the problems evident in comparison of the two formulations cannot be summed up with a simple yes or no answer. He makes a good argument for both sides just as he opposes both sides. The difference is whether or not we have the right moral sense to determine why and how our decisions affect ourselves and others. Kant shows that you have struggles when rationality and practicality are conveyed to cover the same matter. So after all this we ask the question, â€Å"How plausible is the theory? † I think that it is a logical theory that clearly assists in making decisions. It provides a plausible account of morality because you can look at others and have a tendency to complete your actions based on those of others. Kantianism is a more consistent theory because it can be universally applied to all. It is more believable because even if the penalties of carrying out an action aren’t necessarily the best, the individual is still obligated to perform the action because it is their duty to do so. Kant’s theory focuses on the motivation of actions and has a clear and distinctive set of universal rules, and is morally sound. Consequently, ethically and morally they are doing the right thing. Bibliography Categorical Imperative Explained. (2012, April 12). Retrieved from Everything Explained: http://everything. explained. at/categorical_imperative/ (1993). In J. W. Ellington, Grounding for the Metaphysics of Morals (p. 30). Hackett. Kant, I. (1785, 1993). Grounding for the Metaphysics of Morals 3rd ed.. . In J. W. Wllington. Hackett. Rachels, J. (2012). The Elements of Moral Philosophy. McGraw-Hill. Reason – Wikipedia, the free encyclopedia. (n. d. ). Retrieved from http://en. wikipedia. org/wiki/Reason Chicago: Reason – Wikipedia, the free encyclopedia, http://en. wikipedia. org/wiki/Reason (accessed April 17, 2012). The Elements of Moral Philosophy. (n. d. ). Retrieved from http://jamesrachels. org/78improvedsentences. htm Chicago: The Elements of Moral Philosophy, http://jamesrachels. org/78improvedsentences. htm (accessed April 17, 2012).

Patent Law And The Patent System - 1016 Words

Patent law provides the strongest monopoly rights of the intellectual property (formally known as IP) system (Kratz, 2010). Patents may be thought of as a statutory monopoly right granted to an individual for their specific invention (Kratz, 2010). Two observations about the patent system may be made clear; it is often times thought of as a race, and inventions are built on the work of others (Kratz, 2010). The idea of patenting is a largely controversial debate within the realm of research; as any dispute, there are both pros and cons to each side. This paper will first look at both sides of the argument regarding the patent system; however, by the end it will be made clear that the negatives outweigh the positives of the patent system. Benefits The most predominate benefit to the patent system is that it gives the inventor the right to stop others from taking credit for their work or ideas. By keeping the patent system, as a monopoly, companies and individuals are more likely to be motivated to become innovative which, in turn has the possibility of advancing the economy (Inventor Basics, 2011). Along with possibility of further innovation, the patent holder maintains exclusive rights to use the invention as they wish. Therefore, in some cases this leads to a higher profit for the inventor; which can balance out the costs of applying for a patent (Inventor Basics, 2011). One further positive for the patent holder maintaining all rights to their invention deals with theShow MoreRelatedPatent Indirect Infringement Of Patent Infringement1202 Words   |  5 Pages1.Introduction Patent indirect infringementï ¼Å'as the name impliesï ¼Å'is opposite to patent direct infringement. Generally, the conception of patent indirect infringement is to meet the need of pantent protection. It expands the protection domain of the patent right to the no-patented products, improves patent protection’s horizontal and provides sufficient legal protection for patentees. Nowadays, more and more countries ordain the system of indirect infringement in their patent laws in order to protectRead MoreThe Patent And Its Effect On The Improvement And Advancement Of Overall Technology1588 Words   |  7 PagesA patent is the right to individually protect intellectual property from others making, using, selling or importing the invention granted by the United States government. The patent was first seen in 1474 in Venice, when the statute allowed grants and restrictions of European monopolies. Similar to the modern patent, an explanation, description, and proof of the inventions usefulness was required in order to receive the patent. Over time, the British system adopted this system and after U.S. andRead MoreThe Smartphone Industry : A Competitive Market1693 Words   |  7 Pagesutilize patents to increase their sphere of influence within the tech wing. Company growth and the bottom line may be the primary focus, but a secondary goal of stagnating competito rs through tech control is vital to staying king of the hill. Intellectual property is defined as an invention or work that is the result of creativity. A company may apply for a patent, copyright, or trademark to protect intellectual property. A patent is essentially a limited monopoly in which the patent holder isRead MoreIntellectual Property And Technology : The Real World : Legal Matters Sweet As Candy1071 Words   |  5 Pagesproperty law comes into play. The impact intellectual property law has on the technology industry is demonstrated through its procedures, demand, and recent successes. High Tech Intellectual Property Law Intellectual property is defined as â€Å"intangible rights protecting the products of human intelligence and creation, such as copyrightable works, patented inventions, trademarks, and trade secrets.† The most common use of intellectual property law in the field of technology is patent law; patents areRead MoreApple Inc. v. Samsung Electronics Co.: An Exploration of Patent Law and Ever-Evolving Technology1166 Words   |  5 PagesApple Inc. v. Samsung Electronics Co.: An Exploration of Patent Law and Ever-Evolving Technology April 15, 2011 marks the date that kick-started the most high-profile US design patent cases of all time; a lawsuit that could possibly change the face of technology as we know it. Apple Inc. sued Samsung Electronics Co. on the grounds that Samsung’s smartphones as well as tablets infringed upon Apple’s technology and design patents (Apple Inc. v. Samsung Electronics Co., 2013). Deemed by the UnitedRead MoreHarmonization Of International Patent Law1350 Words   |  6 Pagesboundaries and thus inventors are required to protect their inventions in the countries where they wish to operate. Patent systems of different countries are different and this creates much problem. They are often very reluctant to do business in countries where protection is very less or almost nil for their invention. Thus, neither inventor nor the countries enjoy the benefit of patent. If we examine rules of different countries then many differences can be found but at the same time many simila ritiesRead MoreThe Mayo Collaborative Services And Mayo Clinic Rochester1355 Words   |  6 Pages(Prometheus) patents. After Mayo’s Prometheus sued Mayo claiming patent infringement. This paper will examine the Mayo Collaborative Services v Prometheus Laboratories, Inc. case that refers to the patent infringement law. We will examine both sides of the case by exploring Diamond v. Diehr, Mackay Radio Telegraph Co. v. Radio Corp. of America, Bilski v. Kappos, and Parker v. Flook’s relationship with the case. This paper will ultimately conclude in favor of Mayo because Prometheus’ patents effectivelyRead MoreEssay On Patent Systems1342 Words   |  6 PagesLaw Regulations (ACE 592) Juhi Tomar 1. Patent systems allows inventors all around the world to file and claim some form of intellectual property as their invention which gives them exclusive rights to make use of this property for a certain period of time (usually 20 years), after which it is available for public use. The inventor must release all details regarding the invention which are needed to utilize the property by experts/professionals in the field. The patent system gives rise to manyRead MorePatent Laws And Its Legal Justifications1704 Words   |  7 Pagesof them being the patent system. Patent is an intellectual property right that relates to innovations and grants exclusive ownership right of an invention to a patentee, and protects the patented product to reproduction, using, selling, importing, or process producing the patented product (John and Wendy 1). This paper explores the patent law in India in relation to its legal justifications(domestic and international), as well as the ethical considerations in relation to patent medical drugs. TheRead MoreIntellectual Property in India909 Words   |  4 PagesIntrà ¶ductià ¶n It was never the à ¶bject à ¶f patent laws tà ¶ grant a mà ¶nà ¶pà ¶ly fà ¶r every trifling device, every shadà ¶w à ¶f a shade à ¶f an idea, which wà ¶uld naturally and spà ¶ntaneà ¶usly à ¶ccur tà ¶ any skilled mechanic à ¶r à ¶peratà ¶r in the à ¶rdinary prà ¶gress à ¶f manufactures. Such an indiscriminate creatià ¶n à ¶f exclusive privileges tends rather tà ¶ à ¶bstruct than tà ¶ stimulate inventià ¶n. It creates a class à ¶f speculative schemers whà ¶ make it their business tà ¶ watch the advancing wave à ¶f imprà ¶vement, and gather its fà ¶am

John Lockes Theory of Knowledge Essay - 1563 Words

John Locke (1632-1704) was the first of the classical British empiricists. (Empiricists believed that all knowledge derives from experience. These philosophers were hostile to rationalistic metaphysics, particularly to its unbridled use of speculation, its grandiose claims, and its epistemology grounded in innate ideas) If Locke could account of all human knowledge without making reference to innate ideas, then his theory would be simpler, hence better, than that of Descartes. He wrote, â€Å"Let us then suppose the mind to be, as we say, white paper, void of all characters, without any ideas: How comes it to be furnished? To his I answer, in one word, from EXPERIENCE.† (Donald Palmer, p.165) So the mind at birth is a tabula rasa, a blank†¦show more content†¦Secondary qualities are characteristic that are often attribute to external objects, which exist only in the mind, yet are caused by real features of external objects. Secondary qualities are colors, sounds, and tastes.) This view of the mind has come to be known as REPRESENTATIVE REALISM. This mean the mind represents the external world but it does not duplicate it. The mind is something like a photograph in that there are feature of a photo that very accurately represent the world, such as a good picture of three people and that each of them has two eyes, one nose, and one mouth, and there are features of the photograph that belong exclusively to the photo (its glossiness, its two-dimensionality, the white border around its content). A real quality must be a quality of a real thing and real things are substances. Once again, given anything in the world, it is either a substance or a characteristic of a s ubstance.) So, having claimed that he could account for all knowledge purely in terms of â€Å"experience† and having arrived at the concept that had dominated philosophy for the last several generations, Locke proclaimed it a mystery and even joked about it. (LOOKING AT PHILOSOPHY- pg.165-174). HISTORY OF PHILOSOPHY (pg 165-186) Locke’s most important works are the Essay Concerning Human Understanding and the Two Treatises of Government. Locke describes the development of the Essay as having been sparked by a discussion with aShow MoreRelatedJohn Lockes Theory of Knowledge Essay1878 Words   |  8 Pagestruly conscious of the phenomenalistic consequences of their theory of knowledge, which was based on empiricism. Both considered sensation as phenomenal presentations and also as representations of reality. Thus they still had something upon which to build an absolute metaphysics. With Locke gnosiological phenomenalism enters its critical phase. By considering sensations merely as subjective presentations, Locke gives us a theory of knowledge of subjective data devoid of any relation with external objectsRead MoreJohn Lockes Theory of Knowledge Essay1067 Words   |  5 Pages John Locke was an empiricist who believed that people could acquire knowledge from experience. Ideas acted as raw materials and by knowing the relation of the ideas, we got knowledge. All ideas are based on experience but knowledge can also be justified by intuition and demonstration. By sensation and reflection, we get sensitive, intuitive and demonstrative knowledge with different degrees of certainty and ways of evidence. In investigating the two main sources ofRead MoreBusiness Ethics: John Locke Essay1696 Words   |  7 PagesBusiness Ethics: John Locke Business Ethics Business ethics is defined as â€Å"a specialized study of moral right and wrong that focusses on moral standards as they apply to business institutions, organizations, and behavior† (Velasquez, 2014, p.15). Business ethics is the study of moral standards that focusses primarily on how these standards may apply to social systems and/or organizations. For this paper I will be focusing on one of the great minds of business ethics, John Locke, his ideas andRead MoreRenee Pann . Mid Term Essay. John Locke’S Limited Representationalism. March 12, 2017. A. . Do You Ever1417 Words   |  6 PagesRenee Pann Mid Term Essay John Locke’s Limited Representationalism March 12, 2017 A. Do you ever wonder what life is? How we subsist as humans? What is the macrocosm in general? It’s uncanny concept to cogitate, so many explications are out there and we still don’t have the answers we optate. John Locke, who wanted to test those questions was the first modern empiricist we studied. His philosophies were deeply influential on us. Locke argued that, â€Å"the mind represents the external world, but doesRead MoreHow John Locke Inspired Maria Montessori1459 Words   |  6 PagesJOHN LOCKE Every man has a property in his own person. This nobody has a right to, but himself. – John Locke Childhood John Locke was born on August 29, 1632, in Wrington, a village in the English country of Somerset. He was baptized the same day. Soon after his birth, the family moved to the market town of Pensford, about seven miles south of Bristol, where Locke grew up in an old fashioned stone farmhouse . His father was a county lawyer to the Justices of the Peace and his motherRead More John Locke Essay1215 Words   |  5 PagesJohn Locke John Locke is considered to be England’s most prominent philosopher. He was born August 29, 1632 in a small town of Somerset, which is south of Bristol, England. Locke was the oldest of three children. His mother died when he was 22 years old and Locke spoke of her very well. Locke’s father was a Puritan attorney and clerk to a justice of the peace in the town where Locke was born. He was very strict with his son when he was younger. which Locke later believed that parents shouldRead MoreJohn Locke s Theory Of Self And Personal Identity Essay1449 Words   |  6 PagesJohn Locke a seventeenth century Philosopher uses a number of thought experiments in his 1690 account, ’An Essay concerning Human Understanding’. He uses these thought experiments to help explain his definition of the self and personal identity. The thought experiments that are used, go some way in explaining his opinions and in clarifying the role that memory plays in defining the term . Although defining personal identity was and still is a complex subject and not all philosophers share the sameRead More Poes Fall of The House of Usher Essay: Beyond Empiricism and Transcendentalism1482 Words   |  6 Pages      Ã‚   When Edgar Allan Poe wrote The Fall of the House of Usher, two factors greatly influenced his writing. A first influence was John Lockes idea of Empiricism, which was the idea that all knowledge was gained by experiences, exclusively through the senses. A second vital influence was Transcendentalism, which was a reaction to Empiricism.   While John Locke believed that reality or truth was constituted by the material world and by the senses, Transcendentalists believed that reality andRead MoreEssay John Locke943 Words   |  4 Pagesthe most compelling theory of metaphysics. First, I explain Locke’s point that all humans are born as Tabula Rasa, in order to gain basic understanding of where Locke begins his theory. Second, I discuss how Locke argues how we obtain knowledge, empiricism and representationalism, and knowledge about the work varies between strong and weak inferences. Third, I will provide counter examples to Locke’s ideas, and will explain why t hese counter examples work for Locke’s theories provided. Finally, IRead MoreHuman Reasoning John Locke ´s An Essay Concerning Human Understanding1236 Words   |  5 PagesJohn Locke in his prose An Essay Concerning Human Understanding displays an extremely individualistic take on human reason (126). Proposing a perspective that is especially interesting during his time in the 17th century, which catered to a shift towards individual morals and responsibilities - the Puritan movement (Kang). Furthermore, John Locke sees the human mind as a product of one’s own experiences and inherent responsibilities, which is evident not only in his essay, but also in his upbringing

Leadership Style And Vision Content - 1024 Words

Sosik, J. J., Dinger, S. L. (April, 2007). Relationships between leadership style and vision content: The moderating role of need for social approval, self-monitoring, and need for social power. The Leadership Quarterly, Volume 18, Issue 2, Pages 134–153 This journal article discusses studies conducted to determine if there is a correlation between leadership styles and visionary content. The researcher conducted the study during a 14 week leadership development course. The overall findings determined that leadership styles affect how the organizational vision is conveyed to their followers. For example, charismatic leaders motivate followers to understand and engage to ensure visionary goals are met. The authors further acknowledged that each leadership style has a direct effect on how employees engaged with their leaders either positively or negatively. This article is published in a peer reviewed journal. Cartwright, T., Baldwin, D. (2007). Seeing your way: Why leaders must communicate their visions. Leadership in Action. (27(3), 15-24 The author attempts to explain why leaders must learn to communicate effectively when attempting to gain compliance with goals and visions. The writer highlighted important factors to gain employee participation. †¢ Tell a Story – Storytelling gives value to the meaning of the vision. †¢ Reminders – To ensure that all remember what the vision or goal is; physical reminders are best. Such as, t-shirts, advertisements, pens, coffeeShow MoreRelatedEssay on Ldr 531 My Leadership Style1411 Words   |  6 PagesMy Leadership style Osamede Tony Igodan LDR/531 February 24, 2012 Suzanne Dunham My Leadership style Leaders are some of the most influential individuals in any society. They have the ability to influence those around them with various leadership styles including coercive, authoritative, affiliative, democratic, pacesetting, and coaching. Effective leaders consistently adapt to the environment around them to either enhance or correctRead MoreSteve Jobs as a Visionary and Transformational Leader1165 Words   |  5 Pagesï » ¿Introduction Steve Jobs unique approach to leadership and visionary approach to creating, producing and selling innovative products, combined with his innate ability to orchestrate increasingly complex companies have earned him many accolades. Fortune Magazine named him the best leader of the Decade and countless other publications, colleges and universities have given him many accolades and honorary degrees. All these external measures of success reflect who Steve Jobs is on a daily basis,Read MoreManaging Conflict And Organizational Change924 Words   |  4 PagesManaging conflict and the importance of a vision/mission in an organization are two important topics in our course of Leadership and Organizational Change. 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As a coach you want to motivate your players and work towards a team goal or vision. Karlene Sugarman says that â€Å"leadership is about influencing team

Big Data in Construction Industry

Question: Discuss about big data in construction industry. Answer: Introduction: Big data can be defined as a term that is capable of indicating a huge amount of data. The data can be structured or unstructured or both. In an organisation the volume of the data (structured or unstructured) is not important but analysis of that data is important. Therefore the analysis of big data is very important (Yongho and Seungwoo, 2015). The big data analysis will help the organisation to have a clear idea about the present condition of the organisation including each and every activity that are being performed in the organisation and as a result of this proper strategies and decisions can be taken. With the help of big data an organisation can reduce the costs, reduce the time and also can develop new products. The bag data analysis can also detect fraudulent behaviours and it is done before the organisation is gets affected. The big data analysis can also determine the primary reasons behind the failures, defects and different problems is the organisation (Yongho and Seung woo, 2015). Big Data in Construction Industry: The construction industry is known as one of the most conservative industries. This industry has been facing difficulty in the collection of all the raw data and analysing them since many years. Now with the help of big data analysis these problems can be solved. The main problem in the construction industry i.e. the problem of proper acquisition of the raw data and its application can be solved with the help of big data analysis. Advantages: There are also several advantages that the construction industry can have by using the big data analysis. It helps to predict the pre construction costs and associated risks (Yongho and Seungwoo, 2015). With the help of big data analysis all the employees of the industry can also be managed properly. The big data analysis also helps to enhance the business opportunities. Challenges: There are also some challenges that the construction industries have in order to analyse big data. The industry must use proper quality assessment procedures and proper standards in order to analyse such huge amount of data. As all types of data are included, therefore this diversity creates complexity in the structure of the data and as a result of this the data execution of data integration becomes difficult (Fojud, 2000). Advanced processing technologies are required as the data alters quickly i.e. the timeliness of these data is too short. Application fields in construction: There are many applications of big data can be seen in the smart city. It is capable of providing smart grid, smart health care, smart transportation, and also smart governance (Ibrahim Abaker Targio et al., 2016). The application of big data can also be seen in the BIM. BIM has become more effective by the application of big data. The models of BIM can be analysed in a better way with the help of big data analysis. The management of all the tools and documents can be done more effectively by the application of big data. If the application of the big data analysis can be seen then it can be seen that in United States, this analysis has already been started. A construction company known as Nick Savko Sons which is located in United States is already using the big data analysis and has improved its efficiency, cycle time, idle time and also productivity (Datafloq.com, 2016). Conclusion: From the above discussion it can be concluded that the application of the big data and its analysis is very important in any construction industry. This analysis of big data will provide a lot of benefits to the industry but the industry must contain suitable technologies and methods in order to control and analyse the big data. If the construction industry does not contain such facilities then it will face several difficulties in analysing big data. References Datafloq.com. (2016).Big Data Can Help Construction Companies Deliver Projects On Time. [online] Available at: https://datafloq.com/read/big-data-construction-companies-deliver-projects-t/143 [Accessed 14 Jul. 2016]. Fojud, A. (2000). Multidimensional Data Analysis In Construction Industry.Statyba, 6(6), pp.431-435. Ibrahim Abaker Targio, H., Victor, C., Nor Badrul, A., Kayode, A., Ibrar, Y., Abdullah, G., , Ejaz, A. and Haruna, C. (2016). The role of big data in smart city. International Journal of Information Management. Yongho, K. and Seungwoo, H. (2015). Big Data Analysis based Practical Applications in Construction.