Economic Research Paper Example | Topics and Well Written Essays - 750 words

Economic - Research Paper Example Australia remains one of the two countries found in the Asian region with the AAA credit rating. The country’s foreign as well as local currency ratings have remained stable for a long time and this has played a huge role in its AAA rating. It has a very resilient economy and a high government financial capability and strength. These two factors give the country’s economy a low susceptibility to risks and volatility (Pettinger par 7). Based on the nation’s size, diversification, and performance, it has been classified as a country with a strong economy. It does not have significant natural resources but this has been compensated by the well-developed manufacturing and service sector. Australia’s economy has a very favorable long term growth prospects and the diversified economy has helped in reducing the levels of event risks. Denmark is also given AAA credit ratings. The country’s economy is said to be among the most stable in the world. It has a mixed economy that relies on both the available natural resources and the well-developed manufacturing and service sector. Its pharmaceutical industry plays a very huge role in ensuring that the economy grows and remains stable. The maritime industry is also well developed. The third country is Canada. Canada’s ranking has been heavily linked to the trade that takes place between the country and the United States of America. According to Monaghan, more than half of Canada’s exports end up in the United States (par5). It has a well-developed automotive and Service sectors with its banks being ranked amongst the most profitable and stable in the whole world. The coming up of technology firms in various cities has also boosted the economy. Germany has been able to maintain its AAA credit ratings for some times now. Despite the effect of the Euro crisis which almost challenged its rating, the economy remains stable with a high government financial strength. It has a well-built automotive

Process and Change Managment Research Paper Example | Topics and Well Written Essays - 1000 words

Process and Change Managment - Research Paper Example This continuous change has affected the relationship status of people with places, things, ideas, organization and other people. These changes require new adaptability level for organizations and individuals. 2.2 Business process reengineering In the current business environment, global organizations are going through a change which is continuous and rapid. Increasingly driven by competition, consumers and change, companies are vigorously trying new ways in order to make their business and organizations more competitive and effective. Companies are evaluating and analyzing their current structures, goals and systems in order to find out new and more efficient solutions to their business issues. A new era came into existence, when high profile organizations such as Taco Bell and IBM came up with an extraordinary solution to improve their present condition. This solution was business process reengineering. This solution then became a rage and was followed by many others such as Hallmar k which totally re-engineered its process of new-product development and Kodak, who went on to reengineer its black and white process of film manufacturing (Hindle, 2008). BPR was regarded a novel approach for organizational and corporate change and since then, it is quite popular. During the early 19th century, the concept of reengineering was first developed. After examining the way information technology affected the business process, it was renamed as business process reengineering (Sturdy, 2010). BPR was then described as radical redesign and fundamental rethinking of business process with the objective of achieving dramatic improvements in contemporary and critical performance measures such as quality, cost, speed and service. 2.3 Challenges... This paper approves that in the current business environment, global organizations are going through a change which is continuous and rapid. Increasingly driven by competition, consumers and change, companies are vigorously trying new ways in order to make their business and organizations more competitive and effective. Companies are evaluating and analyzing their current structures, goals and systems in order to find out new and more efficient solutions to their business issues. Even though BPR has been recognized for its effective and quick recovery strategies, there are many challenges during its implementations. This essay makes a conclusion that In the current study, one of the most recognized concepts â€Å"Business Process Reengineering (BPR) has been evaluated as a tool for change management. BPR has been recognized as an effective approach to management which is applied and adopted widely by organizations for successful and effective results. Support and commitment are important factors for success in BPR projects. Support of top management in terms of resources, capital and leadership for project life is essential which otherwise will weaken the projects and its success chances. Proper communication and teamwork are also vital for successful BPR applications. Apart from the above factors a BPR project will be successful if it is conducted according to the overall strategy of the organization. If the company strategy and BPR projects do not complement each other, the business will only achieve gains which are short term and will lose chances of long term improvements in performance.