“Naked Economics” by Charles Wheelan Essay

Economics is on fundamental level of the study of scarcity. Human desires are unlimited, but resources aren’t and every society tries to figure out how to allocate its resources for maximum benefit. The field of economics attempts in large part, to help understand these resource allocations and decisions. Resources allocated largely according to the forces of supply and demand, and prices serve as incentives to determine how much of a product a company wants to produce and how much people want to buy. Economics can also be looked at as the study of incentives or the study of household business making. Due to such a large variety of information, economist begin to attempt solving a problem by stating â€Å"it depends†. These two words are widely used in the field of economics and foremost the most important two words we see in the book â€Å"Naked Economics† by Charles Wheelan. These two simple, yet widely used words are portrayed and used greatly through out each chapter by the author giving a simple explanation of how certain scenarios differ and are different from one another based on certain situations. The first four chapter of the book are and understanding of introducing you to what economics and giving you a brief understanding of how it works, such as the importance of incentives, and the ways economist tackle certain scenarios. The first few chapters introduce many questions, but most importantly ask â€Å"Is the Government making our economy better†? This is highly debated throughout and it all boils down to the two words â€Å"it depends†. When the government owns a certain part of a part of business, the government has no motive to â€Å"do a good job†. For example companies owned and run by the government such as places including the DMV, public health facilities, and hospitals used by people who have insurance given to them by the government, have no incentive to â€Å"do a good job† and make the visit  quick, painless, and easy. This proves that government regulation is a bad thing, but there are many ways to avoid this if looked deeper into†¦ Companies could buy out these small time businesses and provide better assistance and quality help. But the government is mainly focused upon two things which are taxation and regulation with trade offs. Chapter four introduces examples of the New Delhi situation, which was when factories and large plants were shut down by the government solely because the pollution got so bad. Many people were extremely angered by this because it left many unemployed and with nothing to do. This caused many problems throughout the society and grew into a large dispute between the people and the government. A skeletal summary of chapter five is that it introduces the economics of insurance. One question introduced is â€Å"how much information is too much information† which insurance agencies and courts take into consideration. If your applying for health insurance and you’re a middle aged man with a history of family health conditions or a history of early death solely due to health issues then filing a claim for life insurance is extremely difficult and sometimes extremely expensive. On the other hand if you’re a person with no history of bad medical records and have a steady and safe job insurance isn’t something to hard to obtain from a company. This question is greatly used with insurance companies. They will ask basic question and have some questions referring to the things listing above asking for a brief explanation or answer to the following question, not looking out for the person, but looking out for there company so the insurance company can have the highest profit margin possible. The question of â€Å"how much information is too much† depends on the person and who you are in the situation. In last bunch of chapter the question of wealth is brought up and talked about with how economist look at the situation, the question of â€Å"how rich am I†. A commonly asked question by many people is â€Å"how rich are you† or â€Å"how much money do you have†, but this isn’t something that economist look into. They solely look into the GDP per capita which often shows a nations wealth, but is often criticized by many people, even economists. People often don’t realize that a nations GDP per capita can increase while unemployment, and the infant mortality rate increases as well. This is very plausible for an  economy. Inflation plays a huge role in wealth for every person and â€Å"it depends†. If home developer earned a gross income of $450,000 per year, you cannot say you are richer than someone in the early 70’s early a gross income of $300,000 per year due to inflation and the economy. The question of your wealth all depends on how you look at the situation and how you define what wealth is to you. If wealth means how much money you have and you don’t consider inflation and certain scenarios then your most wrong. Our economy is every changing and someone earning $300,000 a year in the year of 2009 compared to that of a person in 2001 situations were completely different and may have been easier for that person due to â€Å"good† economy. Throughout the chapters, Wheelan talks about many different scenarios and addresses different questions. In Chapter four Wheelan addresses how the government is helping to promote the growth of the economy. In Chapter ten, he addresses the federal reserve and certain scenarios

Views in the Battle of Trenton essays

Views in the Battle of Trenton essays Despite Lack of morale among Troops and Poor Supplies, Brilliant Washingto defeats British On the morning of December 26the General Washington lead the American fources to another unlikely victory. Weeks before General Lee was captued by Lt.Col. Harcourt and could not come to the aid of Washington, thus this weakened our fources even more. Another blow was the retreat of General Greene. The New Jersey Militia also showed up in miniscule numbers, and deserttion was common The British troops along with the Hessians had been chasing the American fources from New Brunswick, to Princeton, untill the pushed them back into Pennslyvania. The British troops were spread out and not feeling any threat of the Amrican fources, besides a few rapscalius New Jersey Milita Men who annoyed them enough to give Washingto a hand. The foursight of Washinton lead him to have all the boats along the Deleware collected as to stop any mode of further progress by Howe. This worked and Howe decied not to persue Washinton any further. Washington took this time to recuperate and plan. The timing could not have been more perfect had God planned it himself. Just after nightfall Washinton had his troops ferried across to the New Jersey side while Col. Fitzgerald transported 2400 men, 18 cannons and their hourses just south of Bristol and one south of Trenton. This was to capture any fleeing Hessian Troops, who had been placed there previously. The Weather was bone chilling cold. Due to this two men had reportedly froze to death, but Washington marched the on. As luck would hve it the same stoem caused Major Dechow to cancel his dawn patrole. The Drunken Corl. Rall was slow to aide his troops from his Christmas reveling. All the Hessians were slowed by the jollies of the past night and the sober Ameican militia caught them off guard. In the pandamonium the three Hessian regiments were seperated and left exposed. Wi ...

Africas Slow Growth And Development Politics Essay

Africas Slow Growth And Development Politics Essay This paper examines the causes of slow growth and development of Africa with emphasis on some selected countries. The paper argued on the basis of Madison’s (1995:65) estimates of per capital Gross Domestic Profit (GDP) for a sample of countries that, during the first half of the century, Africa had grown considerably more rapidly than Asia. By 1950, the African sample had overtaken the Asian sample. In the 1960s, Africa’s future looked bright, especially that the continent was gradually disengaging from the bondage of colonial imperialism. But today, Africa is the poorest continent in the world. While there has been a steady growth in countries of Asia, such as Malaysia, Singapore, South Korea, and Taiwan, African states have lagged behind. Why is African development growing slowly? What went wrong in Africa? How can these problems be solved? This paper attempts to provide answers to some of the fundamental issues that have bedeviled the continent in the 21st century. In order to assess the level of growth and development in the continent, the concepts of ‘growth and development’ is critically examined within the confines of Africa in the paper. The paper attributed the slow growth and development of Africa to ‘Internal influences and external dimensions’. At the same time, the paper provides some plausible suggestions that would serve as a panacea to the problems militating against the growth and development of Africa. Introduction From what direction should one view the slow growth and development of Africa: is it from the perspective of bad leadership couple with wide spread corruption? Or is it that of policy failure, or geographic and demographic factors? Africa as well as the rest of the world is battling with this provocative question: Why does Africa continue to lag behind the rest of the world in terms of social and economic development? Mathew Paris writing in Times August (2002), believes the answer to the co ntinent’s development problem lies in four simple words: †swagger, Indolence, self indulgence and hot air †he points out †failure of leadership, the individual means that what is created or started is not maintained. Further more, it has also been argued that after 1960, particularly when majority of the countries in the continent gained political freedom, the potential of governments were not responsive to the people’s needs, aspirations and wishes, Mathew Parris (2002). The dream were shattered due to bad leadership, corruption, wars, poverty and eventually, economic underdevelopment. Could this entire unfortunate phenomenon be considered as factors militating against the growth and development of Africa? In terms of structure and for the purpose of understanding and clarity of the main thrust of this article, we have divided the paper into four parts. The first part focuses on the interpretation and application of the terms ‘growth and develo pment’ as concepts of analysis. It is necessary to understand that the two concepts were used based on what the paper takes them to be. Perhaps the greatest weakness in the literature of social sciences is striking lack of precision with which terms are used and under the conditions they are studied. However, a clear distinction between growth and development is explained in this part. The second part discusses African perspective. The rich complex of minerals, ecological hung provided by the continent, the continent’s archeological sites and the richness of African culture and its contribution to global community is captured in the first part. The third part investigates the causes of the slow growth and development in Africa. On this part different explanations were presented to justify the strength of points on the topic under review. However, few examples of some selected countries were cited. The fourth part poses a fundamental question: whether or not Africa will ever grow and develop? Perhaps, this is the greatest challenge to African leaders in the 21st century whose time has come. While the final section concentrates on the concluding remarks. This part provides some plausible suggestions that would change the predicaments in Africa, at least if not all, some parts of it.

Safety of pedestrians and bicycles Term Paper Example | Topics and Well Written Essays - 3500 words

Safety of pedestrians and bicycles - Term Paper Example Over the period of last 20 years, these countries have taken some major steps to ensure safety like better facilities, better urban planning and traffic education for all those who use the road, be it pedestrian, cyclist or motor driven. The implementation of road safety laws has played a key role in this statistic. Other countries may imply the very same rules and models applied in Europe to have a better safety record for the coming future where more highways and road networks will be established for all kinds of commuters (Pucher, 2000). Introduction In the modern era; where fast cars, busses and sub-ways swell our urban and sub-urban lifestyle, people still prefer simple means to travel which includes the earliest mode of travel which is â€Å"walking† and a the use of two-wheel un-powered vehicle known as the bicycle. This trend has recently increased, especially in the metro-cities due to the limitation of traveling in powered vehicles. Some of the problems include parki ng space, fuel cost and taxes. The increase in technology has made sure that a network of roads and highway is established due to the nature and speed requirements of the motorists. This very fact has made modern urban planners to think about the safety of pedestrians and cyclists traveling on the road; especially the ones which they share with high speed cars, busses and other engine driven vehicles. This report helps in understanding the very danger faced by pedestrians and the people saving fuel on bicycles. The safety precautions taken by states and other agencies involved in the welfare of people on the road, be it any mode of travel. The report gives an insight of the future of pedestrian and bicycle riders with respect to change in historical terms or accident avoidance and self education of the people using highways and roads. Trends in Walking and Cycling The 2009 National Household Travel Survey (NHTS) shows us that the trips taken on foot were around 11 percent of all the trips reported where as trips on bicycle were recorded to a bare 1 percent. This accounts for a total of 12 percent. Although these stats do not show a healthy sign, but in comparison to the stats in 2001, show n increase of 25 percent overall. The total number for commuters on foot has almost doubled from 18 billion in 1990 to 24.5 billion in 2009. A similar trend was noticed in the area of bikes, where the numbers rose from 1.7 billion to 4 billion in the same time frame. Still, the required numbers in ratio with the current population are not being met to reduce engine driven vehicle related issues on a daily basis (Clifton, 2004). The method of data collection for reaching these trends has also turned into an efficient system by replacing the old system. The use of telephone to carry out the survey was later replaced by recovering data from travel logs. The National Household Travel Survey included another key assessment for calculating the number of people walking or riding a bicycle in a prescribed time frame. The survey asked people about the number of

To Outline a Synthesis or Summary of two Quantitative Research Paper

To Outline a Synthesis or Summary of two Quantitative Articles about Nursing Rounds - Research Paper Example Meade, Amy L. Bursell and Lyn Ketelsen (2006) entitled â€Å"Effects of Nursing Rounds on Patients’ Call Light Use, Satisfaction and Safety† which found that hourly rounds by nursing personnel played a significant role in reducing patient falls as well as increasing their satisfaction while at the same time reducing the use of the call light. This study has been designed in a quasi- experimental like the previous study where hourly rounds are conducted by the nurses from two units namely 4S and 6S. 4S is a control unit where data was collected on an hourly round while 6S has been designed to maintain the current practice where there is no change implemented. Research has shown that falls among patients in the US are a problem given that 2.3 to 7 falls occur in U.S. hospitals every 1000 patient days and about 30-48% percent of these falls result in injury among both old and young patients. However, in this study, it has also been found that hourly nursing rounds can decr ease the rate of falls among the patients by 52 %. The study found that patients admitted in hospitals often require assistance with personal tasks such as the use of the toilet as well as during eating times where they will call for assistance using the call light. This study also found that the level of patient satisfaction is determined by his or her perception of the way a nurse conducts her duties. While the call light offers a lifeline to the patients in hospital, it has also been observed that it can be stressful on behalf of the practicing nurse. It often contributes to issues such as fatigue among the nurses and this negatively impacts on their patient care management which is often compounded by the existing shortage of staff. Therefore, hourly rounds have been found to be effective in this particular study which was carried over a twelve month period. At least, the study has been carried over a long period compared to the previous one. The sampling method employed by the study is non-probability sample on all subjects who are 18 years and over admitted to 4 South (Oncology/OBGYN) or 6 South (Orthopedic/Neurology) at Hospital during the period of the research. This method is ideal given that the results are likely to be reliable since it is inclusive of all subjects. This section also summarizes an article by Tucker, S.J. et al (2011) which is entitled "Outcomes and Challenges in Implementing Hourly Rounds to Reduce Falls in Orthopedic Units.† According to this article, patient falls remain a problem especially in acute care facilities as they have negative impacts such as injury to the affected people. Basically, patient fall can be described as unplanned descent to the floor (Curie, 2003). These range from 1.7 to 25 per 1,000 patient days with approximately 6–44% of these resulting in injury. Thus, patient safety through the reduction of falls is a very important phenomenon in the health care industry and can be derived from implementi ng structured nursing rounds interventions (SNRIs) according to this particular study. This study has been designed to establish the rate of patient fall during the three period intervals namely: baseline, during the 12-week SNRI implementation, and 1-year following implementation. According to this paper, evidence of effective interventions to prevent and reduce patient falls is mixed (Oliver et al. 2007; Currie 2008). However, in some studies like the work of Christine M. Meade, Amy L.

Tort Law Essay Example | Topics and Well Written Essays - 750 words - 2

Tort Law - Essay Example Stringer also has a case to make claims against McNulty as a secondary victim. This is because he was present in the immediate aftermath of the accident and had a direct perception of the accident. In addition, by virtue of Stringer Bell’s response to McNulty’s distress call, following the decision in Frost v Chief Constable of South Yorkshire Police in which claims by rescuing policemen were allowed, Stringer will become a primary victim of the incident as a rescuer (Best & Barnes, 2011: p61). However, McNulty cannot make claims against the Baltimore District Council for joint liability in the accident. This is because, even though the construction materials had been left on the road, they were not part of the road. He cannot claim that the council was responsible for removing the materials as they belonged to Barksdale Development ltd. To make a claim, he must show that the council was negligent in the provision of a safe roadway (Best & Barnes, 2011: p63). In additio n, the council is immune from being sued except in special conditions, of which this is not one of them as the materials belonged to Barksdale. Finally, Omar can sue Kima for economic loss due to negligent misstatement. This is because Kima knew the purpose for which Omar sought the advice and Omar acted on the advice given to him to his economic detriment (Best & Barnes, 2011: p42). However, because Kima expected that he would seek advice from another independent source as she had already told him that she could not carry out a full road check without going to her garage, there is a possibility that the claim may be denied. In the second case, Lucy cannot make any claims against the zoo for her incident with the monkey. This is because the damage she suffered from the monkey bite had been forewarned by a sign that asked visitors not to feed the monkey in the absence of a zoo staff member. In

A hybrid manager

A hybrid manager Introduction A Hybrid manager can defined as a person who possesses strong technical skills and adequate business knowledge or vice versa. He should have the required skills needed in the technical as well as the management aspect. Along with that, he should also possess the management competences like communication skills, negotiation skills and also he should be able to motivate others working under him. A Hybrid manager should be able to reduce the gap between the business and technical aspects of the organization and build it with his expertise. Researchers have time and again suggested that any organisation which has business and technical department working in tandom with each other has an advantage over other organisations whose technical and business department is not integrated. And this role of integration of the business and technical department is performed by the Hybrid managers. History In 1989 Michael Earl defined the term ‘Hybrid manager as ‘People with strong ethical values and adequate business knowledge and vice versahybrids are people with technical skills able to work in user areas doing a line or functional job but adept at developing and supplementing IT application ideas ( Michael Earl, 1989). In 1990 Colin Palmer [1], Chairman of the British Computer Society Task Group on hybrid managers, wrote: â€Å"The (hybrid manager) term was coined by Michael Earl, Director of OXIIM at Templeton College, Oxford, as a result of a number of pieces of research that he and his colleagues had been undertaking. They noticed that in all the significant cases of successful implementation of information technology for competitive advantage or for achieving major change in organisations, there seemed to be a person at the heart of the development who displayed certain experience and characteristics. These were: an understanding of the business and what was required within the business, combined with a technical competence that enabled them to understand what was required in technical terms, including the scope of what was being planned. In addition to this, they displayed two types of organisational skills. They knew how to get about the business, and this implied that they knew the busines s and the people around it well, and they knew how to get things done, possessing a set of excellent social skills to listen, understand, negotiate and persuade† (Colin Palmer,1990). Information Technology International technology (IT) is considered as one of major and important routes for competitive advantage in todays modern business world. Hence, any company which lacks in IT has a disadvantage in comparison to those who possess this advantage. It in todays world is a pre-requisite for any firm. But, there are issues which are faced by IT and this makes it risky as well. According to a recent survey it was found out that the three main issues which are faced by IT are : Integrating IT with business Delivery on time and within budget Cost. The biggest problem for any organization lies in the integration of IT and Business. In business, one has to meet all the requirement of its client right from the quality of the product to the delivery date , the cost factor etc. All these things should be taken into consideration . IT cannot stand alone. It needs the support of business management. There are many questions which needs to be answered. Questions like the failure of software development projects meeting the requirements of it users or the product being not delivered on time or the increase in cost . The problem lies in both the departments, technical and management. There is a huge gap between both the parties which does not allow them to work efficiently. The increase in this gap is a matter of concern for the companies. Hence, any company which wants to succeed needs to bridge this gap. The Hybrid managers , who have an understanding of business and IT, can help bridge these gaps and smoothen the path oh project management and software development. And herein lies the need for hybrid managers. Characteristics of a successful Hybrid Manager Self-motivated/like being challenged A successful hybrid is self-motivated person. He does not need any external factors to motivate him/her. His motivation lies within. Whenever any kind of problem or complication arises, they have the ability to make decisions. A successful hybrid manager is the one can take care of issues his own. They set high goals and always look to reach at the top. They have the confidence to step out of their comfort zone and try new ideas and strategies.They will never give up. If stuck somewhere, they will try for various options to get out of it. Intelligent in the broad sense A successful hybrid has very good technical skills. At the same time he also has a good knowledge about the business. He is intelligent in the sense that he has a very good understanding of of his job. Coping with conflicts He is not afraid of difficulties or problems. He is a self-motivated personality and hence he has the ability to cope with pressure. He can take care of any issues. Even if he is stuck at something, he will try and come out of it. Flexible Flexibility is another very important trait of a successful hybrid. He is open to change and new ideas. He adapts quickly to any environment, changing conditions or any other obstacles in his working. Adjusting to new and different conditions and situations is extremely vital for any successful hybrid. Energetic and persistent He is full of energy . He keeps the work environment very lively and makes it easy to work. Having a lively and relaxed environment is extremely important for any organisation in order to prosper. It helps the employees to work efficiently. Persistence is another important virtue of a successful hybrid manager. Along with being energetic, he should also be persistent so that it maintains a proper balance in the organisation. Good communication skills Good communication skills are the key for executing management skills. Good communication skills helps in having open conversations with the team members and avoids any misunderstanding within the group. It helps in conveying the correct message in a correct manner. And a successful hybrid possesses these skills. Leadership A successful hybrid manager is a very good leader. He possess the skills required by a good leader. A good leader is not only a self motivator but he also motivates others by his actions and words. A good leader is confident and supportive. He is always available to his team. He eludes positivity and leads by examples. Creativity A successful hybrid is very creative. He has a vision for the organisation and he strives hard to transform that vision into reality. Innovative Innovation is another very important quality in a successful hybrid. Along with creativity he also needs to be innovative in his approach towards the organisation. He needs to develop new and innovative ideas in order to help the organisation prosper and achieve its goals. Bridging the gap between Technical department and management This is the most important work of a hybrid manager. And a successful hybrid manager is the one who is able to bridge this gap and help maintain the balance between these two departments. Integration of these two departments is the virtue of a successful hybrid manager. The need for Hybrid managers With changing time, even the market is changing. The markets have globalised. It is the times of Globalisation. The competition has increased and the business has also become more competitive. The style of working has changed. Projects have become more critical, change programmes have become larger than before. The complexity of these programmes have increased. The company has to prove its viability of every initiative which it undertakes. Gone are days when people where included in the organisation for their vertical skills. In todays business environment, the company demands its managers to be allrounders. They should be more business aware. Todays managers have to be more competent than how they were 10 years back. It has become more complex. He has to get the best out of his staff either by developing their skills or by recruiting new employees any which ways. The staff has to be managed properly. Not only that, he also has to take care of the technical part as well. A lot of importance has to be given to the project and the team. This was not the case earlier. With changing times, as competition has increased, the managers have to use different techniques of managing the organisation. These responsibilities were not there 10 years before. There is also an increasing belief that the problems which the IT department faces are neither technical or fiscal in nature. Their main problem is organisational and managerial. Quality Output In todays highly competitive scenario, the quality of a product becomes the utmost important aim for any organisation. Now, companies cannot take the consumers or their clients for granted. They cannot take them for a ride. Today, people have lots of options which they can fall on. With the developing technology like the usage of internet, Just with the click of a button, the consumers can get what they want. Hence the focus on quality becomes extremely vital for any organisation in order to succeed. Hence, the role of hybrid managers becomes very important. The issue of quality is high on the companys agenda. The manager need to monitor the quality concern. His role is to examine the quality of the product while it is production. He should take the initiative to see to it that the quality of the product is maintained throughout. He should not wait until the product is developed completely and then check if there are nay faults or mistakes. He should check the products throughout unt il the development process till the product is completely finished. The hybrid manager should be responsible for the quality of the product .The hybrid should aim at creating a proper plan for assuring the quality of it product. Hence he needs to maintain the parameters of the quality. In business terms, quality could be defined as producing a business system on time, within budget, developed to agreed standards and providing the required degree of functionality. There are various verification techniques such as; Structured walkthroughs. Informal reviews/inspections. Quality assurance reviews. Quality audits. Hence , there is huge responsibility on the shoulders of the hybrid manager to ensure that the quality of the product is maintained when it reaches the consumer. Partnerships According to a research done by Henderson in IT projects he found out that personal relations was the reason for creating bonding in the organisation. According to him â€Å"You must have the ability to bypass the organization and go directly to someone who will . He insisted that, there is a need for building an effective building relationship between the line managers and the information system managers and the specialists. The gap between the line managers and the information system managers needs to be bridged. Miscommunication between any departments can have its effect on the organisation. Hence, the company needs to take appropriate steps in order to avoid any kind of faults. Hence, the hybrid managers come into the picture. They have expertise about the business management as well as the technical part. They can act as a link between these two departments. Thus, the hybrid managers play a very important role in the 21st century. Managing the change in business Change is the only constant. Whenever there is change in the business, there is always some kind of pressure on the manager to show results. The manager has to undertake lot of responsibilities. He has to manage and exercise a number of skills. He has to start making decisions. A solid foundation is a pre requisite for any kind of business. Hence, it is important for the hybrid manager to make a positive and controlled start. There are certain things which he needs to take into consideration like ; In brief, these initiation tasks can be seen as follows: Establishing Terms of references of the new programme The manager needs to understand the terms and reference of the new business. Proper structure A proper structure needs to be in place for any issue regarding the change in programme. Managing finances It is also important for the manager to take care of the new finances. Understanding the basis of program, how it changed, how it was established and how the finances. Change control procedures All the changes made should be handled in a controlled manner. All requests should be documented, impact assessed properly, priorities assigned and decisions made. If any procedure is left undefined then it will lead to loss of control. Determine/tune methodology The manager should be familiar with the structuring of change programmes and should understand what tuning is necessary to minimise the risk of failure. Job cutting less complications Hybrid managers can help the company in cost cutting as well. The managers are among the best paid employees. Therefore, having separate managers for the technical and management department will increase the expenditure of the company. In these times of recession, companies are looking to cut down on their workforce as much as possible. They are using different techniques to reduce their costs and total expenditure. All over the world , there are job cuts happening. Therefore having the same manager for the technical as well as the business management department will reduce the expenditure of the company to a certain extent. Also having a common manager will be less complicated than having separate managers. Having separate managers can become complicated as they have expertise in their respective fields but hybrid managers have skill and adequate knowledge in both the departments. Financial awareness : An hybrid manager literally means a person who looks after both the sectors in the business likely managerial as well as the technical aspect, here this financial awareness comes under the sector of the managerial were it is the duty of the hybrid manager to look after the sector of financial sector for the well being of the business. An hybrid manager should atleast have some knowledge on the basic accounting, simple cash flow statements, cash budgets, and things like that for the good functioning of the business. These basic knowledge on the financial sector will help the hybrid manager to understand the financial status of the business which gradually result in the development of the financial sector in the business. Knowledge in the financial will lead the hybrid manager to cover all the other sectors which are involved in the business because for every business financial sector is the main sector cause it is the place were the whole of the business is dependent on. If the financ ial sector of a business is not perfect then the whole business will collapse , at the same time if a financial sector of a business is perfect then the business can be brought high even from the level of mud. So it is the responsibility of the hybrid manager to look after the finance for the well being of the business. Hybrid manager should not only have an idea of the basic accounting but he should also have ideas on the day to day transactions which take place in the business, he should have known the details of the tangible and the intangible assets of the business, he should also be aware of the interest rates for the amount which is being lend to others and interest for the money which is being borrowed from others, overall he should have details on each and every single penny which is been spent, gained and invested in the business which is for the well being of the business where it is the duty of the hybrid manager to have all the details of the financial sectors and also the other sectors in the business. Risk Management: Risk is the key the word of every business where there is some or the other sort of risk involved in each and every business. There can be no business without the risk management. The only difference which might be there in every business would be whether it is taken on a small scale or the risk is taken in a large scale. As the hybrid manager it is the duty of him to take proper risk on the necessary time when needed for the development of the business. It is not advisable to take risk very often but it is the duty of the hybrid manager to take risk at the necessary times. It is easy to take risk and put the business under risk but the hybrid manager should have calculation on possible effects which may occur because of taking such risk in the business and should also have the calculation on how to overcome those circumstance and the possibilities to overcome those circumstances which should all be calculated before taking. He should act in such a way to minimise the chances of fail ure in the business because of taking such risks in the business. He should also have the estimation cost which would occur because of taking such risk in the business and he should also be capable of handling any situation in the business and should also be capable of handling pressure in the business which might occur because of taking such risks in the business. It is not that taking risk will always be successful for the business because there might be circumstance were it might also end up in failure where the hybrid manager should have the potential enough to manage those circumstance. The fear at those those circumstance will result in the failure of the business so the hybrid manager should have the potential to manage any situation which might occur in the business and he should have the capability of solving those problems. Effective and productive use of resources: The other important function of hybrid manager is effective and productive use of the resources where the hybrid manager should have the efficiency to utilize the maximum resource from each and every individual in the company which will result in the development of the business. There is a common saying which states that maximum utilization of minimum resources which means effective usage of the resources with the minimum level of source which is one of the most important functions of the hybrid manager where he should have knowledge of effective and productive use of the resources. A hybrid manager should be efficient enough to utilize each and every resource of the company for the well being and development of the company. He should have the efficiency to motivate each and every individual who works in the organisations for the development of the business. The ultimate aim of the hybrid manager is to increase the individuals productivity level in the organisation. it is the respons ibility of the hybrid manager to make use of each and every resources in the organisation for the benefit and development of the organisation. Coping with stress: Stress can easily be defined as pressure or demand on physical or mental energy which has an negative effective in it. There is a common saying which says that things can be properly done under pressure. Most of them think that stress and pressure are the same but it is not so pressure comes when there is too much of workload in the job or anything but pressure comes when there is too much of pressure in the job or anything, Being the head he can easily transfer his stress verbally or on nonverbal actions to other individual in the company but it is the duty of the hybrid manager to manager to cope up with the stress and solve the problems by himself because if the manager shows his stress on the other individuals in will naturally result in stress on other worker who work in the company which will result in lack of concentration and unnecessary fear which would end up in certain problems in the organisation so it is the duty of the hybrid manager to cope up with the stress and to ma intain it within himself to protect from unnecessary problems in the organisation. It is the duty of the hybrid manager to maintain peace and avoid pressure from the head of the other individuals who work under him, so that they can work properly without any pressure on him. Conclusion The role of a Hybrid manager is very complex. He needs to have knowledge about all the areas of the business and he also needs to exceed in them. He needs to make a difference to the organisation. A hybrid manager is a self-motivated person, a good leader, creative, has good communication skills, flexible and always there to help his staff and team. The ability of a hybrid manager is to showcase his all round skills. A hybrid manager can also be called as an all rounder. As the times are changing, the competition has also increased. With the ever increasing competition, every company is looking for different ways to emerge on the top. And in order to do this, having Hybrid managers is extremely vital. As the technology is developing, there is a need to go in hand in hand with it. And the hybrid managers are appropriate ambassadors to represent their respective organisations. Hence, as we have seen in this assignment, a hybrid manager is of great importance in the 21st century Global economy. There is a need to develop hybrid managers and enhance them for the growth of any organisation. Reference http://www.globalmorality.org/?q=content/hybrid-manager: last accessed 4 dec 2009 http://books.google.co.uk/books?id=5U7o0FlH-AsCpg=PA436lpg=PA436dq=michael+earl+hybrid+managersource=blots=J2n0xjB8lZsig=9pMgjkR9GaQDjntX3sZkIxPpZQghl=enei=tuQgS4nxJdm5jAfLx-TiBwsa=Xoi=book_resultct=resultresnum=1ved=0CAgQ6AEwAA#v=onepageq=michael%20earl%20hybrid%20managerf=false: last accessed 4 dec 2009 http://itnow.oxfordjournals.org/cgi/content/abstract/38/6/22: last accessed 5 dec 2009 OConnor, G . Smallman, C. (1995). The hybrid manager: a review. Management Decision. 33 (7), 19-28. Homes, G. (2001). The hybrid manager. Industrial and Commercial Training. 33 (1), 16-26.