Behavioural Finance Essay Example | Topics and Well Written Essays - 3500 words

Behavioural Finance - Essay Example Fair distribution 8. How can fair distribution of resources be achieved? 9. What factors are to be considered in ensuring fair distribution? 10. How is inequality a challenge in fair distribution? Inclusion criteria Inclusion of the material for literature was based on relevance to the research questions and its relevance to the research topic Exclusion criteria Any material that was deemed irrelevant to the research topic was discarded; the relevance of the material to the research topic was determined by reviews of its title and abstract Relevance of research questions to the topic The view has been taken that a progression through the research questions will provide an in depth overview of the research topic. The research questions have been designed to capture all views of the new economic paradigm and the different aspects of the new economic paradigm that scholar have identified. Despite the limited literature that is available in this area, the research questions have helped t o conduct an exhaustive literature review. Table of contents Abstract 2 Table of contents 5 Introduction 6 Happiness and Well-being 7 Efficient allocation of resources 9 Ecological sustainability 11 Fair distribution 12 Analysis of the literature 13 Conclusion 14 References 15 Introduction The world has for a long time yearned for a change, the people recognise that the social, political and economic conditions in the universe are not at par with the needs of the society. Ancient economists such as Adam Smith in his ‘wealth of nations’ argued that competition would be used to distribute good and services in the world as individuals were taken as rational beings. However, it has been discovered that human beings are not rational... However, despite these advancements, the variation gap between the wealthy and the underprivileged has been rising, both in nation-to-nation comparison and within the countries. Adverse and extreme climatic conditions have increased in frequency and severity and adapting to these changes has now become a reality. Due to the rising population, the demand for natural resources has risen which has led to overexploitation of natural resources and degradation of the environment, food and oil prices have skyrocketed and debt crisis in most countries has reached an alarming levels. This paper will deal with the new economic paradigm and all the perspectives that are associated with it. These trends shows that the world has no option but to act; however, there are more benefits that come with change than just avoiding the negative effects that may result due to failure to change. Change and innovation through testing and advancement of new models are key determinants in human advancement, for instance, the global financial and European debt crisis does not only require people to imagine of a better world, but rather, to act and create that world. The need for a new economic paradigm was boosted when the 193 member states of UN general assembly adopted a consensus resolution 65/309 on happiness: towards a holistic approach to development, this resolution characterised happiness as fundamental human goal and a universal aspiration.

Management of Change Assignment Example | Topics and Well Written Essays - 250 words

Management of Change - Assignment Example The company earned big profits in depression years and recently the earned profits were $ 22 million in 2006, $ 32 Million in 2007 and $ 45 Million in 2008. Due to technological revolutions of 21st century, the new CEO is interested in making the company a major player in communication arena. The company has changed focus from water-based civil projects due to dwindling revenue opportunities and is currently bidding the National Broadband Network. H&J lacks fundamental business systems unlike competitors like Foxtel and Telstra. Shareholders are unhappy and fear lack of strategic direction and loss in market share. The consultants have found that H & J failed to plan for the change. I believe the company should conduct a more orderly move in to communications. After assessing the scope of the change through identifying the change requirements such as the number of new staff required, the processes and technology, H & J can utilize John Kotter’s model of change management in moving to the communication arena. The following eight steps are critical in the change management process. This step will entail outlining the need for the change. The step entails developing a shared view of current business situation and ensuring a shared vision for the future. The management must be capable must outline the current scenario of declining opportunities in water-based projects and outline the opportunities that exist in the communication arena due to technological advancements. The management must examine the opportunities, threats and conduct honest discussion with stakeholders about the proposed change (Kotter 1996). The management must identify a team of influential people in the organization such as committed shareholders who can drive the change. This stage requires good leadership skills and emotional commitment of the leaders of the various stakeholders in the company.