Organization Behaviour - management (MBA Level) Essay

Organization Behaviour - management (MBA Level) - Essay Example tatement is that a learning organization should focus on the incessant learning and the improvement of potential, not limited in just senior management but also in all employees within the company, and in the business partners of the company such to satisfy stakeholders’ needs. Senge (1990) has the similar viewpoints on the continuous process of organizational transformation, which he defines organizational learning as a strategy that helps members of an organization to constantly develop their capability to generate the results that match their aspirations, where new and extensive ways of thinking are cultivated, where shared goals are liberated, as well as where people are constantly acquiring knowledge on how to learn collectively. Braham (1995) also has a similar view of organizational learning. He argues that it is the responsibility of organizations to ensure that members are exposed to learning opportunities and that learning is not hindered to continuously build their capacity and empower them to expand their perspective in approaching day to day tasks. Lifelong learning is part of organizational learning that helps individuals to approach problems with sophistication. Organizational learning requires the application of learning methods for individuals in the organization, teams as well as the entire organization to constantly transform it towards the course that is progressively more satisfactory to the interested parties. The other implication of organizational learning is that the self-development of individuals within the organization should be seen as a whole by integrating each individual’s learning together in it. According to these definitions, it can easily to be seen that continuous learn ing/transformation and stakeholders’ satisfaction are two of the key elements of organizational learning. Organizational learning is a constant and purposefully applied process incorporated and running at the same time as the organizational activities,

Inflation targeting has proved to be a successful strategy in many Essay

Inflation targeting has proved to be a successful strategy in many industrialized countries, but this may be only due to the fact that central banks have not be - Essay Example First, I will introduce the notion of inflation targeting, then I will look at the literature review of inflation targeting as well as speak aboutunfavorable shocks that make influence the policy, ultimately I will drow on the conlclusion as wether inflation targeting has proved to be a successful strategy in many industrialized countries or that it was only due to the fact that central banks have not been hit by strong unfavorable shocks. InflÐ °tiÐ ¾n tÐ °rgeting is Ð ° mÐ ¾netÐ °ry-pÐ ¾licy strÐ °tegy thÐ °t wÐ °s intrÐ ¾duced in New ZeÐ °lÐ °nd in 1990, hÐ °s been very successful, Ð °nd hÐ °s nÐ ¾w been Ð °dÐ ¾pted by mÐ ¾re thÐ °n 20 industriÐ °lized Ð °nd nÐ ¾n- 2% in the U.K. Ð °nd 2.5% in NÐ ¾rwÐ °y. (Mishkin, Eakins, 2006) The difference between these fÐ ¾rms dÐ ¾es nÐ ¾t seem tÐ ¾ mÐ °tter in prÐ °ctice: Ð  centrÐ °l bÐ °nk with Ð ° tÐ °rget rÐ °nge seems tÐ ¾ Ð °im fÐ ¾r the middle Ð ¾f the rÐ °nge, Ð °nd the edges Ð ¾f the rÐ °nge Ð °re nÐ ¾rmÐ °lly interpreted Ð °s â€Å"sÐ ¾ft edges,† in the sense thÐ °t they dÐ ¾ nÐ ¾t trigger discrete pÐ ¾licy chÐ °nges Ð °nd being just Ð ¾utside the rÐ °nge is nÐ ¾t cÐ ¾nsidered much different frÐ ¾m being just inside. The relation between inflation targets and central bank preferences has been thoroughly investigated. On one hand, there is a theoretical literature of Walsh (1995), Svensson (1997) that concludes that inflation targets can be used as a way of overcoming credibility problems because they can mimic optimal performance incentive contracts. On the other hand, there is an empirical literature (Bernanke et al. 1999), that looks whether inflation targets have been instrumental in reducing the policy-implied short-term trend rate of inflation. Broadly speaking, the evidence is that inflation targets have indeed brought about a change in policymakers inflation preferences. Unlike the relation between inflation targets and central bank preferences, a relatively underexplored issue is how to translate inflation targets into short-term