The British Economy Essay Example | Topics and Well Written Essays - 1500 words - 5

The British Economy - Essay Example In this process, the accuracy and efficiency have enhanced but complexities have also increased significantly. International trade has a great economic importance as it helps to bring economic prosperity to a country. International trade activities include import and export which influences foreign and domestic exchanges. Besides, certain economic risks are also associated with international trade and hence, the government always try to control international trade-related activities. This paper will attempt to deal with foreign exchanges policy of UK. Earlier, the UK pound was used to be determined using the fixed exchange rate policy by comparing to other foreign currencies. However, due to certain shortcomings of fixed exchange rate policy, the UK Government has shifted to floating exchange rate policy. This paper will present explanations on fixed and floating rate policies and how the UK Government plays a crucial role in controlling and deciding the foreign and domestic currency policies. The UK is one of the leading economies in Europe and it belongs to the category of first world country. It is a â€Å"leading trading power and financial center is the third largest economy in Europe after Germany and France†. Since last two decades, the Government is playing a very crucial role in the growth of agriculture, services, and industrialization. Its GDP as per purchasing power parity was nearly $2.189 trillion and GDP as per official exchange rate was nearly $2.259 trillion. The per capita GDP was nearly was $35,100 with real GDP growth rate of 1.6% in 2010. Regulatory authorities including the central bank (Bank of England) is responsible for managing and controlling the economic affairs. The inflation and unemployment in 2010 were 3.3% and 7.9%. During the financial crisis of 2007-2008, the UK’s economy was heavily affected.

Employee Performance Appraisal Systems Essay Example | Topics and Well Written Essays - 3250 words

Employee Performance Appraisal Systems - Essay Example This essay declares that there are various benefits of these techniques; however, they are not without some limitations. Below, the paper is going to highlight the importance of employee appraisals, the reason why they are important, the benefits and banes of performance appraisals and more importantly, the legal implication of employee appraisals wrapping up the paper with a conclusive statement. This paper makes a conclusion that there are various researches conducted on the subject of employee performance appraisal. The basic concept is that employee appraisal has always been considered the task of the employer rather than considering in the element of a 360 degree evaluation. A 360 degree appraisal has several benefits that can be summed by saying that the evaluation works on all levels and provides a more comprehensive, well rounded approach to performance appraisals. Some researchers propose that self appraisals be made part of the appraisal process to evaluate work performance. Self appraisals however, are also studied to be more lenient, less variable and less discriminant with less halo effect as well. This is probably because the employee knows the amount of work they have done, how much effort they have put in, but leniency arises when employees consider themselves on an easier scale and project themselves positively than normal. However, problem areas of self appra isals become magnified in areas where decision making capability needs to be evaluated, along with identifying training need and applied criteria of elevation in terms of tasks and processes. (Murphy and Margulies, 1980) The research also points out that employee self appraisal is a method that falls in the same category as employer appraisal as it helps develop the employee's motivation and helps him or her participate in management. Murphy