Essay on Analysis of Wealth of Nations by Adam Smith

Analysis of Wealth of Nations by Adam Smith People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. Adam Smith The reasons for writing a book such as Adam Smiths The Wealth of Nations are many, and Smith seems to have had several in mind. His study traces the stages in the development of the modern economic system in an attempt to explain it, maps out the origins of money, and finally tackles the issues facing the mercantile system which controlled the society he lived in. In the process, he provides an exposition for his vision of a laissez faire economy, that is, capitalism as we now know it.†¦show more content†¦Looking at his own societys economic system, Smith explores the division of labour, the role it has to play in industrialization, and its general impact upon the wealth of the state. Smith regards the division of labour and the resultant specialization as the key to increasing the productivity of labour, rather than the increase in mechanization since the Industrial Revolution began, as many would argue. Naturally, a highly specialized economic unit would be dependent upon interaction with other, similarly specialized units, and Smith illustrates that a system of fair and accessible trade is necessary for an efficient use of labour. The much quoted example of the pin maker is used to demonstrate Smiths point about the division of labour. Despite its questionable accuracy, this example does much to illustrate the plight of labour under a system of increasing specialization. That is to say, it shows the boredom and melancholia which can be associated with repetitious and laborious work. For Smith, however, any such problem is amply compensated for by the relative prosperity of a society based upon specialized markets and trades. For instance,Show MoreRelatedAnalysis Of Thomas Hobbes Leviathan And Adam Smith s The Wealth Of Nations1852 Words   |  8 Pages Most important among the many big ideas in Thomas Hobbes’ Leviathan and Adam Smith’s The Wealth of Nations are those that deal with human nature and how to create and maintain social order. In this paper, I will argue Hobbes’ lack of optimism, and Smith’s lack of pessimism in their theories of human nature, and will also discuss how our idea of social order changes once these aspects are taken into consideration. Hobbes’ theory of human nature begins with the statement that all men are createdRead MoreAn Inquiry Into The Nature And Causes Of The Wealth Of Nations986 Words   |  4 PagesIn 1776, Adam Smith, also known as the founding father of economic liberalism, changed the world with a historical document titled An Inquiry into the Nature and Causes of the Wealth of Nations. This book was intended to be an attack upon the economic system during the 18th century. Today, Smith is known as the inventor of the market economy because of this particular work. Although, the article has a built-in bias, having both fact and opinion. The Wealth of Nations is considered to be the bibleRead MoreAdam Smith : The Father Of Modern Trade And The Free Market1258 Words   |  6 PagesAdam Smith is widely regarded as the father of modern trade and the free market. His avant-garde ideas are presented in An Inquiry into the Nature and Causes of the Wealth of Nations, a masterwork of political and ec onomic analysis published in 1776. The general thesis of Smith’s argument is that it is in the best interest of countries to manufacture or maintain a â€Å"perfect liberty† in their economies, raising worthwhile questions of what this notion of liberty entails, and where it originates. ToRead MoreAdam Smiths Theory Of Classical Theory And Natural Law956 Words   |  4 Pagesthe foundation for later economic principles and helped to shape and define the concepts of wealth and utility in later works. In this section, I will explore the different relationship of natural law with Classical thought, specifically in relation to wealth and utility. I assert that the division of labor acted as a form of natural law for this period. Beginning with Adam Smith, his work Wealth of Nations, this division of labor arises â€Å"Not due to human wisdom, but the necessary slow and gradualRead MoreA Critical Analysis Of Adam Smiths The Wealth Of Nations1372 Words   |  6 PagesCritical Analysis of Adam Smith’s The Wealth of Nations The classic statement of economic liberalism, the policy of laissez-faire, was written during a ten-year period by Adam Smith, a Scottish professor of moral philosophy. The book’s ideas were useful in encouraging the rise of new business enterprise in Europe, but the ideas could not have taken hold so readily had it not been for the scope of Smith’s work and the effectiveness of his style. As a philosopher, Smith was interestedRead MoreKarl Marx, Adam Smith, And Andrew Carnegie1350 Words   |  6 PagesKarl Marx, Adam Smith, and Andrew Carnegie The writings of Karl Marx, Adam Smith, and Andrew Carnegie all made significant impacts in society not only in their time, but continuing to this day. Marx shared is opinions on capitalism and his views of the progression of human society in his writing, The Communist Manifesto which he wrote with Friedrich Engles and published in 1848. Marx believed in the idea of a society with no capitalism and the abolition of the bourgeoisie. Adam Smith wrote a bookRead MoreEssay about Karl Marx and Adam Smith: Division of Labour1117 Words   |  5 PagesKarl Marx and Adam Smith: Division of Labour A nation is just a vast establishment, where the labour of each, however diverse in character, adds to the wealth of all. Two brilliant people of their time are both respected in their views for creating a near perfect society where everyone is happy. Adam Smith, a respected Scottish political economist philosopher born in 1723, had the goal of perfect liberty for all individuals through the capitalistic approach. While Karl Marx, born in 1818Read MoreA Textual Analysis of the Adam Smith Problem1353 Words   |  6 PagesTextual Analysis of the Adam Smith Problem Sympathy and self-interest, when examined superficially, seem like conflicting notions. For this reason, Adam Smith is often criticized for writing two philosophical books – one about the human nature to exhibit sympathy, and one about the market’s reliance on our self-interest – that contradict each other. Through careful examination of Smith’s explanations, however, these two apparently separate forces that drive human behavior become not only interwovenRead MoreThe Writings Of Karl Marx, Adam Smith, And Andrew Carnegie1331 Words   |  6 Pageswritings of Karl Marx, Adam Smith, and Andrew Carnegie all made significant impacts in society not only in their time, but continuing to this day. Marx shared is opinions on capitalism and his views of the progression of human society in his writing, The Communist Manifesto which he wrote with Friedrich Engles and published in 1848. Marx believed in the idea of a society with no capitalism and the abolition of t he bourgeoisie. Adam Smith wrote a book called The Wealth of Nations which was publishedRead MoreDefinition of Money and Its Uses1579 Words   |  6 Pagesï » ¿An Analysis of Money and How it Works For a definition of money and where it comes from, one could turn to the United States Constitution, Article 1, Section 8, which states that the Congress shall have the Power to coin Money, regulate the Value thereof, and fix the standards of weights and measures. But if such a definition fails to get to the heart of what money is, one could turn to Adam Smith, author of Wealth of Nations, who wrote that money has become in all civilized nations the universal

Essay on Project Management - 1183 Words

Spring 11 IE 5541: Project Management Homework #6 You can work on this assignment individually, or in a group of 2 or 3. If you work as a team, please turn in one copy of the assignment. PROBLEM 1: AD HIGH TECH (25 POINTS) The product management aspect of this case is showing its age: published in 2006, and set in 2002 - 3. Some of you will question their technology choices. Do your best to focus on the PM aspects, assuming that their technology choices were appropriate for a conservative company at that time. Objective A major managerial challenge is analyzing project plans rendered in MS Project (or other software) and determining their chance of success. Rather than looking at the basic issues of a project, many managers†¦show more content†¦However, on p.5, it has become May 2003. Please use 2003 (the (B) part of the case continues with the 2003 assumption) Spring 11 IE 5541: Project Management Homework #6 o ï‚ · ï‚ · o Accrue at = Prorated 6. Input your Material Resources (p 5 â€Å"Physical Infrastructure†) Add Workstation and Server as Material Resources (be sure to include the unit in the resource name) Accrue at = Start Be careful. Dr Jeffery (the case author) wrote created the case using MP Project 2003 (which did have a higher number of odd behaviors). In fact, the instructors’ guide for this case states: †¦ MS Project [can seem] ‘buggy’†¦. [T]he problem is †¦ often that MS Project is not calculating duration correctly, given the number of resources for each task. We suggest that students sense-check this manually for each task of the final project plan. I don’t seem to have problems with this assignment using MS Project 2007. In the past, a few students have had problems with unbalanced work packages (W ï‚ ¹ D * Units). The problems often occur in the lines Design Capture Customer Profile Page and Design View Search Product Cart. Take care and work carefully w ith multiple backups. If you have trouble that can’t be easily resolved: clear leveling (if you have already leveled resources), delete the problematic line, carefully re-add the line. 8. Assign Material Resources to Work Products o We can assume that the Workstations and Servers are readily available. Add them asShow MoreRelatedProject Management : Projects Management902 Words   |  4 PagesProject Management Project Management. What does the words Project Management mean and what are the steps to managing a great project. If we break down the two words Project Management it is defined on dictionary.com as â€Å"The process of planning, organizing, staffing, directing and controlling the production of a system†. As shown in the website Project Insight there are multiple different steps in the project management roll such as project scope, life cycle, objectives, assumptions, constraintsRead MoreProject Management and Project Management It3115 Words   |  13 PagesExamination Paper: Project Management IIBM Institute of Business Management Examination Paper Project Management Section A: Objective Type (30 marks) †¢ †¢ †¢ This section consists of multiple choices questions and short answer type questions. Answer all the questions. Part One questions carry 1 mark each and Part Two questions carry 5 marks each. Part One: Multiple choices: 1. During _________formal tools and techniques were developed to help and manage large complex projects. a. 1950s b. 1980sRead MoreProject Portfolio Management : Project Management1432 Words   |  6 PagesProject Portfolio Management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategicRead MoreProject Management, Project Communication, And Project Stakeholder Management797 Words   |  4 Pagesareas of project management that stood out while taking this program. Project integrated management, project communication, and project stakeholder management. A discussion on how they are executed will be presented. As more courses were taken during this project management graduate program, many of the project management concepts became clear and revealed more of the interdependencies and intricate dynamics that are required for successful project management. Stakeholder Management Project StakeholderRead MoreProject Management : Project Integration Management1236 Words   |  5 Pagesâ€Å"Direct and Manage Project Execution is the process for executing the work defined in the project management plan to achieve the project s requirements/objectives defined in the project scope statement† (comp. PMBOK3, p. 78). The Project Manager helps with the execution of the planned activities, sometimes with the assistance of a project management team for larger projects. This occurs during the execution phase of the project. Figure: Phases of a project When we are completing the work assignedRead MoreProject Management Msc. 7Pjmn009W Project Management Project.1391 Words   |  6 Pages Project Management MSc 7PJMN009W Project Management Project Author: Maria Chico Garrido Date: 06 March 2017 Version: 1.1 Project type: Academic Preferred Supervisor: Proposed Title: How does the use of formal project management methodologies in complex Home Automation projects contribute to project success? Main Deliverables/Milestones: Deliverable Date Project Mandate 09 March 2017 Project Brief: In depth literature review of formal project management methodologies and project success. BackgroundRead MoreProject Management1510 Words   |  7 PagesSystem. You are the project manager on a project to construct a flyover in the city to ease traffic congestion. Flyover construction should cause minimum disruption to the traffic until it is complete. Ensuring safety of the commuters and workers at the site is the responsibility of your company. The date of completion of the project is six months from now. This date cannot be extended because of an upcoming international summit in the city. To achieve the overall project time lines, the followingRead MoreProject Management Project And Change Management1940 Words   |  8 Pages Paper on project management in smart voice project Sohail Kamdar Project and change management Table of contents Name of the topic Page No. Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4-5 View point of project management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Outlook of the project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5-6 Milestone inventory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6-7 WBS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Plan of project management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7-9 Cost savings plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreProject Management1713 Words   |  7 PagesProject Management The Project Manager has some tasks that have to be carried out, he/she is responsible for the full project. The Project Manager has to make the best use of all the resources so the project can be completed successfully. The project Manager sets the boundaries for the project, such as schedules and what is done and when it has to be completed. There are various tasks the project manager is responsible for such as: 1) Time and resource allocation and management 2) Setting upRead MoreProject Management1015 Words   |  5 Pagesor renewed interest in the field of project management? IT is growing at a rapid rate and with that growth demands people to manage this growth. People I think are more trained to be project managers and also there is new software that helps tremendously with the management part of the tasks. So demand is up, skilled workers are up, and the cost benefit is there for this renewed interest. 2. What is a project, and what are its main attributes? How is a project different from what most people do

My Neighbor Totoro free essay sample

This movie was different from American films. There is no fighting or bickering among the characters. The movie is based on two sisters and their father who moved to a new town to be closer to their mom; who is ill and in a hospital nearby. The girl’s father hires the neighbor as new babysitter whom they have never met before. In this film the Japanese culture is very different from American society today, but very inspiring and enjoyable for its young viewers. The two sisters Satsuki who is the oldest and Mei being the youngest were very excited about moving to their new home and closer to their mom. When they arrived to their new home the girls ran all through and around the house. Their dad introduces them to the neighbor, who was an old lady who was keeping the house up while it was empty. The neighbor told the girls to call her â€Å"Granny†. We will write a custom essay sample on My Neighbor Totoro or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The girl’s father also told them that she would be the new sitter while he went to work. Her being the girls sitter was strange to me; because in this culture we live in today; us as parents we do not leave our children with strangers we know nothing about, so that didn’t set too well with me. He should have let the girls get comfortable, and get to know her first. The old lady seemed to enjoy the girls and the girls enjoyed her too. Granny had a grandson, who the girls passed along the way to find their new house. When the girls asked if he knew how to get to their new house, he told them it was haunted, but granny put a stop to the rumors. The father, who was a professor at the local college in town, was always busy and a bit inattentive to Mei. Satsuki who is only nine and attends school had to grow up very quickly; by helping with her litter sister combing her hair and cooking for her while her mother is ill in the hospital. Both girls’s had a very big imagination. Mei wondered off into the woods one day while playing outside alone. Mei found a tree that had a path inside of its trunk, that’s when she found a spirit named Totoro. When she told her father and sister bout Totoro they didn’t believe her. Totoro was there to be with Mei when she didn’t have anyone else. Satsuki and Mei were looking forward to spending time with their mother on the weekend. It’s been awhile, so they were very excited about spending time with her. That’s when an urgent telegram was sent from the hospital concerning their mother. The girls panicked and were afraid something was wrong with their moth er. They rushed off to use a phone to call their dad, but Mei got lost trying to keep up. Once Satsuki noticed Mei was missing she had the whole neighborhood was looking for her. That’s when she turned to Totoro for help to find Mei. Totoro got a cat bus that could fly up in the sky and look over the town to find Mei. They found her on a dark road crying; she was trying to get to the hospital to make sure her mother was ok. The cat bus was a big cat, with eyes as headlights, paws as wings and its body open up inside filled with soft cat hair as seats. This is what made the movie different imaginary flying cat bus and friends. It’s good to see that the girl’s imaginary friends were able to help find Mei and take them to the hospital to see if their mother is ok. In American movies you don’t see much of siblings like Satsuki and Mei. They were getting along, playing without fussing and fighting with each other. The two sisters were very loving and kind towards one another. This movie is a great movie for children to watch to learn and see how to get along and enjoy childhood even when things come up and the older sibling has to step up the take care of their younger siblings. My Neighbor Totoro† is a good non-violent movie for kids to watch. â€Å"My Neighbor Totoro† is based on experience, situation and exploration—not on conflict and threat (Ebert, R). When looking for films for children you should look for films similar to â€Å"My Neighbor Totoro† for your children. A film with violence tends to put children on the wrong path at times. So we want them to s ee and learn it’s not all about fighting bickering amongst each other, but how to love, and help one another when situations come up.

General Electric Internal/External Factors Essay Example

General Electric Internal/External Factors Essay General Electric Internal/External Factors For over one hundred thirty years General Electric has helped shape this country to the comforts known today. Their company motto â€Å"imagination at work† says it all. With their ability to adapt to the ever changing environment around them as lead the company’s success and drive over the years. In today’s corporate world you can not find a stronger company that has learned and changed through time. The following looks at how they survived and grew for over a century. A strong company learns to adapt to different factors in the world. Most of these factors come from within a company which tends to break the company down over time. General Electric has learned to watch for issues like this and works to keep its employees as a major part of the company’s decisions. It was best stated by the company’s CEO Jeff Immelt back in 2005, â€Å"At the top, we dont run GE like a big company. We run it like a big partnership, where every leader can make a contribution not just to their job, but to the entire Company† (GE, 2005). We will write a custom essay sample on General Electric Internal/External Factors specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on General Electric Internal/External Factors specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on General Electric Internal/External Factors specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The company learned to listen to its leaders on all levels which keep the company connected to the daily needs of the employees and its customers. General Electric learned that these individuals see more of the company everyday and in order to make sure they have the best leaders in each level to control the daily business they have built their own team training program. For over 50 years the General Electric company has been sending its leaders to the John F. Welch leadership center to further educate the company’s employees in order for better results out of the next generations leaders. On top of the continued education of their employees the company faces external challenges each day. For years the challenge has presented its self for the company to produce energy efficient products and they have risen to the occasion. Today you will find that they are still given the challenge to help our environment and they are ready to help. Today’s economy still fights to try and create new ways to reduce harmful gas emission and find alternate means of energy. General Electric has taken this challenge and worked on many projects help the environment that today’s society is currently creating. One thought was to reduce the amount of emissions and General Electric has stepped up with the new Integrated Compressor Line (ICL). The ICL has reduced both CO2 emissions and reduced the use of 38, 250 liters of lubricant oil for each unit’s life (GE, 2008). These are just some ways that General Electric has thrived over the years. They have followed the fact of watching the economy and building strong leaders to help plan and control all aspects of the company. The emergence of globalization has caused numerous companies to change the way they function as an organization. Globalization affects all the functions of management: planning, organizing, leading, and controlling. General Electric Company is on the forefront of globalization and has adapted to meet the needs of a new global marketplace. For the function of planning, GE has made changes with respect to globalization. By throwing out the old top-to-bottom model of planning, GE has created teams of junior staffers, taken for their ability to think creatively. The company has also begun to make interactions with clients and suppliers, which is a dramatic shift from the close-to-the-vest approach of yesteryear (Byrne, 1996). In regard to organizing, GE has effectively shifted from an industry leading manufacturer, to a service-focused international conglomerate with activities in energy, construction, financial services, and health services (Auchard, 2008). In a recent speech, CEO of GE Jeff Immelt made it perfectly clear that GE will maintain a global approach to running itself, now and in the future. Immelt said I am a globalist. You are a globalist. We all believe in the strength of the global economy, (Auchard, 2008, para. 4) as quoted in a recent article. The survival of a company depends on its ability to utilize current, developing, and new technologies. Technology affects every aspect of business, from manufacturing, to management, to communication. Advances in technology allow companies to enter markets that it was unable to in the past. For example, GE has developed a new technology for MRI machines in the United States and does research in India for low cost. GE then sells them in emerging markets, such as China and other East Asian countries (Auchard, 2008). A venture like this takes an incredible amount of planning and organizing. First, the company needs to locate and assess potential markets. Then they would have to organize the resources needed to create, manufacture and distribute the product. Next, they need the leadership to influence the creation of the product throughout every stage of development. Lastly, they have to assess if the venture was successful and make recommendations to improve the process now and in future ventures. As a company General Electric is very much about innovation and innovative thought. This is readily apparent from not only their slogan â€Å"imagination at work† but also when one looks back to General Electric’s humble beginnings when their research laboratory was first built. It was during that time when General Electric established one of its main priorities (General Electric, 2008). The research laboratory’s purpose was to discover new things and to figure out a way to put those new discoveries to use. An example of this would be General Electric’s DLN 2. 6+ Combustion System. This system was created in response to higher gas prices and more stringent emission requirements. It not only saves fuel but lowers CO2 emissions (General Electric, 2008). The development of the DLN 2. 6+ Combustion System shows that even today General Electric still makes goals and objectives to help them grow while bringing â€Å"innovative technology to the world† (General Electric, 2008). Bringing innovative technology to the world is not a simple task. This task would require a large amount of resources. Fortunately, General Electric has found a way to obtain the needed resources. Over the years General Electric has spread to locations around the world which in turn has given them access to vast resources within each country. In countries that are experiencing enormous growth such as China General Electric has been able to build and develop resources successfully (General Electric, 2008). General Electric prides itself on not only the quality of its products but also the quality of its leadership. The CEO of General Electric Jeff Immelt believes in looking at the big picture and how General Electric fits into that picture (General Electric, 2008). As such he believes in everyone making a contribution to both his or her jobs and the entire company (General Electric, 2008). Also since Jeff Immelt became CEO General Electric has been recognized in polls as Americas Most Admired Company and of the Worlds Most Respected Companies they have also seen a variety of successes in discovering and producing innovative products (General Electric, 2008). As a company General Electric prides itself on integrity along with innovation. As such they have very strong governance principals that they follow in order to maintain fully compliant. General Electric’s principals outline everything from the role of the board and management to the policy on poison pills (General Electric, 2008). Their principals provide the framework that General Electric uses maintain their high compliance standards which have earned them their 10. 0 rating from Governance Metrics (General Electric, 2008). Over the years General Electric as a company has grown to include locations worldwide. As General Electric grew its workforce changed and began to include people from diverse backgrounds speaking a multitude of languages. As General Electric continues to grow worldwide they have the ability to call upon their diverse workforce to aid them in creating goals that will allow them to advance within other countries such as China or India (General Electric, 2008). General Electric recruits employees of various backgrounds from all over the world. The career portal on their website offers jobs in their various locations in many different countries written in the peoples native languages. This helps General Electric obtain talent from various countries (General Electric, 2008). General Electric also has network groups such as the GE Womens Network, the African American Forum and the Asian/ Pacific-American Forum. The goal of these groups is to attract and retain talented individuals of various backgrounds and to provide a place for individuals of similar backgrounds to get together and obtain support within their work environment (General Electric, 2008). By having these types of group within there organization General Electric makes it easier for their goals to be achieved. These groups help to create cohesion within the company and a clear understanding of everyones roles. Ethics influence’s all four of the functions of management at General Electric. General Electric uses technology to better the world. General Electrics planning is based around their roots. They started small and worked their way up. Setting goals from a barn in his back yard Steinmetz convinced the higher up’s that the company would benefit from a research laboratory. By having a laboratory the company could perform more tests and grow in the technology to help others. While Steinmetz and Whitney might not recognize the facilities today, they would feel very comfortable with the lab’s mission — spurring GEs growth by bringing innovative technology to the world (General Electric, 2008). General Electric’s organizing goes hand in hand with the planning because once you have the plan you must put the ball in motion. The company needs a certain type of people to and a certain work environment to promote the atmosphere needed to bring their mission to light. GE’s mission is to bring innovative technology to the world. GE’s leadership is the top personal that sees that all the planning and organizing goes they way the company would like it to. GE encourages their personal to learn as much as they can in order to move up into a leadership position. The leadership of the company makes sure that they are teaching and letting any personal that would like to learn in order to advance that they can. Their controlling is like the leadership part but has more of a structure to it. For example a way they control things is with rules, regulations and policies. With out those things there would be ciaos. So over all the ethics in General Electric appear to be very good with high standers to keep the company moving and afloat. Overall the manager is just one person who requires the help of their staff to follow through on all of the offices work throughout the day. The biggest tool the management has is to delegate task out to the team so that all parts of the job are completed. By assigning different task to their employees they have the ability to complete more tasks and to see how well an employee handles themselves under the extra responsibility. For example the manager can delegate the task of controller to an individual in one division of the office to see how they handle the job. In the end delegation is another part of the manager’s job in order to complete all task in a timely manner . Understanding the principles and basic functions builds a strong foundation for any manager and company. So looking back you will see that following the basic principles and functions of management will help to build a strong career. By looking at growth of a company like General Electric you will also find that the benefits of a solid manager will build a company that will last the test of time. One can only hope by attaining the knowledge they can succeed the same way. Reference: Auchard E. , (2008). Globalization is a Tough Sell, GE’s Immelt Says. Reuters. com. Retrieved April 27, 2008, from http://www. reuters. com/article/ousiv/idUSN0620856720070708? pageNumber=2virtualBrandChannel=0sp=true Byrne J. A. , (1996). Strategic Planning. BusinessWeek. com. Retrieved April 25, 2008, from http://www. businessweek. com/1996/35/b34901. htm General Electric Company, 2008, Leadership, retrieved April 27, 2008, from http://www. ge. com/company/leadership/index. tml General Electric News, 2008, Shades of Green, retrieved April 27, 2008, from http://www. geoilandgas. com/businesses/ge_oilandgas/en/newsletter/geog_enews_feb08_022908/ecomagination. html General Electric. (2008). Heritage of Research: Our History: Our Company. Retrieved April 28, 2008, from http://www. ge. com/company/history/research. html General Electric. (2008). GE Energy DLN 2. 6+ Combustion System. Retrieved April 28, 2008, from http://www. gepower. com/prod_serv/serv_for/gas_steam_turbines/en/cmus/dln26. htm General Electric. (2008). GE Worldwide Activities: Climate Change, Olympics, USCAP. Retrieved April 28, 2008, from http://www. ge. com/company/worldwide_activities/index. html General Electric. (2008). GE Jeffrey R. Immelt: CEO, Chairman, Career, Biography, Profile. Retrieved April 28, 2008, from http://www. ge. com/company/leadership/ceo. html General Electric. (2008). GE Leadership: CEO, Executives, Management, Board of Directors. Retrieved April 28, 2008, from http://www. ge. com/company/leadership/index. html General Electric. (2008). GE Governance: Principles, Succession, Leadership, Management. Retrieved April 28, 2008, from http://www. ge. com/company/governance/principles/index. html