Privatisation Essay Example | Topics and Well Written Essays - 750 words

Privatisation - Essay Example However, it can be argued that since 1978, the country is experiencing gradual process of transition from centrally planned economy to an economy where the resources are allocated through market mechanism (Kikeri & Kolo, 2005). Nonetheless, the economic reform in China has had a profound impact on the economic system of the nation over the last two decades but the nature of the transition is still identified to be incomplete. It has been observed that prior to price reform in China, it acted as an instrument for state’s redistribution policies. Correspondingly, it has been ascertained that during the regime, central government controlled the process of all the major commodities. However, the price reform in China has led to the commencement of ‘freely-operating market signals’ almost in all the sectors of the economy. The price liberalisation facilitated in responsive supply towards the consumers demand as well as downstream producers which dramatically resulted i n greater allocative efficiency. The price deregulation reduced the state’s role in fixing and guiding prices to a substantial extent. Besides, prior to 1978, the policies of the Chinese government have been firmly based on the principle of self-efficiency while importing only those commodities that could not be produced and at the same time exporting goods only to pay for imports. Notably, trade constituted only a small proportion of the Chinese economy. In other words, trade was monopolised and predominately controlled by the central Government ministries. The trade liberalisation policy in China has dramatically led towards encouraging foreign investment and trade while it also resulted in determining the increasing imports and exports by market forces reducing the State’s control over the international trade. Correspondingly, this process led to the increased participation of private firms thus reducing the State dominance (Mina & Perkins, 1997). The

Martha McCakey Case Study Example | Topics and Well Written Essays - 750 words

Martha McCakey - Case Study Example Moreover one of her old classmates working for the same company also encouraged her to join that company and finally she decided to join Praxis Associates. (Kyurinyan, 2006) Martha McCaskey was a hard working young woman who believed in good ethical standards at the work place. She never believed in short cuts to achieve targets. She has completed many successful projects at a fast pace and soon became a valuable member of the company. As a business tactics, Praxis Associates often hired ex employees of their competitors to obtain valuable information regarding the functioning of the competitors. They have divided the division into two sub groups; old guards and new guards. Old The attitude of the top management of Praxis associates was motivated only by the profit. They were ready to engage in any sort of activities to capture business and also they never believed in business ethics. For them, Business is a competitive world where only the smarter ones will succeed and the others will fail. In order to achieve targets anything can be done as per their moral standards. Moreover they forced the employees to go up to the maximum extent to achieve the targets. They never bothered about retaining the employees. It is under this circumstances Martha McCaskey asked to complete a project. It was a crucial time period of her career. The successful completion of that project will ensure her higher bonuses and promotion. But she found no way to complete the project without compromising her ethical standards. She was forced to decide whether she wanted to maintain her integrity and high standards or to compromise with all such things. Morality and ethical standards are vanishing gradually from the modern world. Globalization and liberalization policies made the competition immense in the business world. It is extremely hard to survive in a highly competitive business world by keeping all the ethical standards. Business is a smart game where most of the moves