Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Assessing Economic Performance - Essay Example

Comments (0) Cite this document
The parameters include gross domestic product (GDP), level of technological advancements, economic growth and government system. These parameters will enable this write-up to reveal…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
Assessing Economic Performance
Read Text Preview

Extract of sample "Assessing Economic Performance"

Assessing economic performance Task: Introduction This write up seeks to make an in-depth comparison of two nations based oncertain parameters. The parameters include gross domestic product (GDP), level of technological advancements, economic growth and government system. These parameters will enable this write-up to reveal key disparities between the two countries. The above parameters are paramount in the evaluation of the success of any nation. As such, they will form the basis of comparison between the two nations. The two nations subject to this comparison are America and India. The first nation is the world superpower while the latter is a second world nation with enormous potential. This comparison will utilize resources provided by the Central Intelligence Agency websites (CIA).
America has the greatest GDP globally. The American GDP is about twelve trillion dollars. America’s economy is highly diversified, and it relies on technological advancements to generate such a massive output. For a nation to generate such a GDP, it must add value to its products. A skilled labour force complements America’s enormous resources, which ensures efficient production. Similarly, India has massive resources such iron and rubber. Such natural resources have made manufacturing a key driver of this country’s economy. The enormous demography has provided ready consumption and cheap workforce. The GDP of India is about 3 trillion. The technological advancements in America have altered communication in a phenomenal manner. The advancements have transformed the manner in which the world conducts business culminating in the emergence of E-commerce. India’s technological advancement is average since most of its economy depends on manufacturing and exportation of raw materials. However, the nation is integrating the recent advancements in technology rapidly to ensure that it increases value addition in its production (Central Intelligence Agency, 2012).
America’s economy is stagnating owing to the current recession. Thus, the economy is experiencing negative growth despite the concerted efforts to stimulate it. The efforts have included stimulus packages and deficit budgets that ought to boost spending among the citizenry. The recession resulted from malpractices in the banking and insurance sector that culminated in failure of numerous firms. Conversely, India’s economy is performing strongly despite the receding global economy. This owes to local consumption and adoption of appropriate policies. The astute policies have provided an appropriate platform for the growth of the economy. The American society has two governments. First, there is the federal government also regarded as the central administration. The federal administration provides overall policies that supersede those of any other authority. Additionally, there is the state authority formed in each of the fifty-one states. Any state law that is inconsistent with laws legislated by the congress is void to the extent of the contradiction. India follows a presidential system complimented by federalism. Twenty-eight federal states constitute the Indian state each with its own administration (Central Intelligence Agency, 2012).
America has an enormous GDP owing to it diversified financial system and skilled labour force. Conversely, India’s economy is fundamentally dependent on manufacturing. As such, the economic expansion of India will depend on value addition and diversification of its economy. Notably, the country has the potential to challenge for global superiority in the future owing to stable governance, enormous natural resources and its population. Currently, America has an edge over India on almost all fronts (Central Intelligence Agency, 2012).
Central Intelligence Agency (2012). The world fact book .Retrieved on April, 2012 from Read More
Cite this document
  • APA
  • MLA
(“Assessing Economic Performance Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from
(Assessing Economic Performance Essay Example | Topics and Well Written Essays - 500 Words)
“Assessing Economic Performance Essay Example | Topics and Well Written Essays - 500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Assessing Economic Performance

Assessing Performance and Developing Employees(HRM)

...?After reading the article on an interview of Samuel Culbert of UCLA’s Anderson School of Management and Chapter 8 I feel companies should conduct performance reviews. An individual spends on an average 2000 hours of work every year. And it is only just and necessary that he should be evaluated on what good and bad has he accomplished. Year end performance reviews might make some people nervous but the winners are the ones who write their own performance review starting from the first day of the year. They are conscious of what matters for a good prospective interview, what does not and how to create effective schedule to reach the goal. But it is not perfect; with inaccuracies in the scoring system and subjectivity involved in few...
1 Pages (250 words) Essay

Organizational Operation Management: Assessing Performance on the Market

... to assess the immeasurable aspects that affect performance of employees, it would not enable them to make appropriate decisions regarding employee management. Democratic or Participative style of leadership always prioritizes the team members. Although a democratic leader holds the ultimate power to make a decision for his company, he would be willing to listen to the opinions of his team mates and make fair consideration of these ideas in the decision making process (Tracy, 2010). Role of managers within organisations Every organization has one or many managers based on the expanse of business that the organization is engaged in. Managers in a firm share the responsibility of steering the company in the right direction and help it meet...
9 Pages (2250 words) Research Paper

Economic Performance of UK

...Contents Contents Introduction 2 Recent Economic Performance of UK 3 Inflationary Pressures 4 Lowering Interest rates 5 Conclusion 6 Bibliography 7 Introduction Most developed nations of the world including US and UK are experiencing an economic meltdown causing serious economic problems for both the countries. The results of such an economic meltdown are serious because it not only affected the financial system, but it has been also serious hampered the economic growth. The credit crunch has been serious created the shortfall of banking credit to firms to fund their expansion plans as well as working capital needs, but it has also put extra pressures on the resources of the financial institutions as especially banks...
6 Pages (1500 words) Coursework

US Economic Performance

...US Economic Performance US Economic Performance To keep up with the global challenges the nation is facing, the Bush administration has set national economic targets for the current year. These targets include an upward movement in its real Gross Domestic Product (GDP) growth rate, a consumer price index (CPI) below 2%, and an unemployment rate under 5%. This paper examines the economic performance of US in view of the abovementioned economic objectives. As at end-April 2005, US posted a GDP growth of about 3.1% quarter-on-quarter (“Statistics”). The increase in GDP is attributed to the sustainable consumer spending. Consumption is boosted by the prevailing low interest rate regime coupled by rising house prices and bullish stock...
2 Pages (500 words) Essay

Assessing Organizational Performance in Regard to Human Resources

...Performance Appraisal A performance appraisal is defined as an official employees-managers interaction, which is tailored towards identifying strongholds and weakness in the working environment over a given period of time. Career advancement by the employees is dependent on the numerous opportunities realized through the process of performance appraisal. This process engages the management in an assessment duty in order to establish the set of employees that need to be promoted. It basically occurs in three concepts, namely, management by objectives, employee rating scale and 360-degree feedback (Carroll, 2002). Whatever the appraising method is adopted for a given firm, the ultimate goal is to enhance performance of employees...
2 Pages (500 words) Literature review

Creating a Unit and Assessing Performance

...CREATING A UNIT AND ASSESSING PERFORMANCE An Assessment Unit should be designed in a manner that will ensure that all the student get the required information needed for their course during a specific duration. The Backward design has been used in helping teachers carry out this process effectively. The lay out there plan clearly with the end in mind. The teachers are able to appropriately assess the standard through test in order to determine if the goals have been achieved. The objective is to help academic units to improve in assessing student learning as a student can learn on how to engage in self reflection. This paper will focus on Social studies of Second Graders in Schools in Florida. 2nd Grade Social Studies K-12 Social...
3 Pages (750 words) Assignment

Assessing Organizational Performance

The business environment has grown quite competitive in the past few decades. In response to the increased competition, several management models have been advanced to aid in navigating the competitive business world. The advancement in technology and development of the education system across the world has contributed significantly to the increase in technology. Apparently, the development of different education systems across the world has diversified knowledge acquisition in the business field. Essentially, the diversification of business knowledge has led to the establishment of effective management models such as the EFQM excellence model.
The EFQM excellence model has gained widespread use in the UAE. Basically...
6 Pages (1500 words) Case Study

Assessing the Performance of the U.S. Economy

...Assessing the Performance of the U.S. Economy of the of the Introduction This project is aimed at assessing and evaluating the performance of the economy of the United States of America over the past 10-15 years. A number of different economic metrics like Gross Domestic Product (GDP), Gross National Product (GNP), Recession, Unemployment and Employment level, Purchasing Power Parity (PPP), National income (NI), Consumer Price Index (CPI) etc. Thus, other different concepts like aggregate demand, aggregate supply, economic multipliers, equilibrium income and consumptions factors would also be considered in this economic analysis. The report is started with the overview of the current state of the economy of the United States of America...
5 Pages (1250 words) Essay

Performance Management Comparisons: Assessing Theory and Practice

Performance management (PM), by its best definition, is a cyclical series of processes that are designed to 'identify, encourage, measure, evaluate, improve and reward employee performance' (Mathis & Jackson, 2005: 338). In most organizations, whether the firm is a profitable entity or a not-for-profit organization, the main goal of a PM system is to link the main organizational objectives (goals) to the desired outcome. In a simplistic world, setting achievable goals in the business environment would only involve making a series of strategic decisions and ensuring that the steps necessary to achieve those goals are carried out by subordinate staff members. However, in today's complex business environments, carrying out the go...
6 Pages (1500 words) Literature review

The Most Important of the Five Performance Objectives for an Operation Such as Jaguar

The study will include materials from academic sources on operations management and information and data from the company website to facilitate understanding and analysis. Most importantly it is a study that will reiterate the importance of operations management and the strategic role of operations in a challenging business environment. To understand the history of how Ford acquired Jaguar let us go over the following paragraph:

The Jaguar to Ford history: Jaguar began designing and manufacturing automobiles in the early 1920s. Over the next few decades, Jaguar grew into one of the leading European status symbols of wealth and style. Unfortunately, this status symbol became tarnished as the quality of Jaguar vehicles be...
7 Pages (1750 words) Research Paper

Bernard Madoff : A Scapegoat of the Economic Crisis

Darwin was condemned and treated with contempt by the Church for proposing the theory of evolution that linked all living matter in the earth, including humans. In the case of Bertrand Russell, he was imprisoned as a conscientious objector, for expressing his opposition to British participation in the First World War. These are typical examples of people being wrongfully punished when they were guilty of no crime or fraud or misdoing. It would be highly improper to associate Bernard Madoff with the aforementioned luminaries, for he was truly guilty of carrying out the biggest financial fraud in modern history. At the same time, it would be simplistic to classify him as a victim of the contemporary judicial system. The truth, in fa...
6 Pages (1500 words) Assignment

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages (2250 words) Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages (1750 words) Case Study

Multiculturalism: Socio-economic Impacts on Modern States

This paper tends to argue that multicultural policies have promoted social segregation and economic insecurity in modern states. As the most relevant example, it will also evaluate how multicultural policies have evolved to be the most recent threat to the nationality and cohesion of Australia and the United Kingdom.

To begin with, many of the policies enacted on citizenship and immigration have brought about incessant controversy in Australia. In addition, the exceeding emphasis put on the multicultural policy has given rather unfavorable outcomes to both Australia and the UK. Policies that are intended to ensure equal representation and opportunities often create frustration and disappointment among certain interest g...
6 Pages (1500 words) Case Study

The Companys Performance in Society

Microsoft’s flagship product, Windows, is the standard operating system for any IBM PC. There are alternatives such as Linux or Mac OSX however Microsoft’s Windows has remained a dominant force in the market. This has given the company a high degree of recognition as people become accustomed to the system's procedures and processes. It can be very difficult for some people to make the leap from one operating system to another.
Since Microsoft’s inception in the 70s, they have grown from strength to strength. There estimated current revenue is $53.4 billion showing the enormous achievements of this company. This familiarity between product and customer has been solidified over the years as people have been ex...
7 Pages (1750 words) Case Study

Williamson's Influence on Economic Theory

he issues include inter-firm relations, trans-nationalization, regional culture, various production systems, regional culture, flows of knowledge through social networks, closely tied personal and business lives, embeddedness in surrounding society, external control and ownership, and contractual relations. Boundaries are demarcations of the firm’s structure that comprises an organization. All the above make demarcation of a firm difficult to ascertain. Boundaries are important in defining how and when things are done in the firm and establish rules and norms for inclusion or seclusion. It also determines parameters of organizational influence depending on the degree of the sector and its power over external influences. This...
6 Pages (1500 words) Essay

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages (2000 words) Article

Performance Management Process: General Electric

General Electric (GE) is considered as the most successful multinational organization in the world.  It is known for peculiar strategies, practices and management patterns, specifically instrumented by its erstwhile CEO, Jack Welch.  According to Welch, the performance-driven culture is the basis for all success at GE. Jack Welch is one of the toughest leaders who has played a vital role in removing bureaucracy and bringing positive change in terms of performance evolution, vitality curve, training and development facilities, etc.

According to Campbell et al, performance is a behavior or action meant to achieve the organization’s goals, which can be measured (cited by Latham, Sulsky & MacDonald, 366)...
6 Pages (1500 words) Case Study

Economic and Social Impact of Globalization

Global corporations are heightening their awareness of the nature of their business relationships with diverse governments considered of primary importance to manage factors influencing their performance. From among the elements that global organizations closely and continuously evaluate, the social and economic impacts are considered of significant importance. As the components and diverse perspectives of globalization affect both the host organizations and those nations they do business with, this research aims to proffer significant social and economic issues that impact global strategies.

The concept of globalization encompasses theories beyond the traditional view that global corporations merely do business abroad....
7 Pages (1750 words) Coursework

The Economic Performance of Bulgaria

...The Economic Performance of Bulgaria Introduction The economic performance of Bulgaria has been affected by the political development in the country. The change of the political system affected the economic performance in a positive manner since the economy was seen performing better than the time when it was under the communist rule. However, in as much as the economy of the nation has witnessed a lot of significant changes, there are some issues that plague the Balkan nation. This paper will look into the economic performance of Bulgaria using the income level and the poverty indicators and the national income statistics. Part A Income level Bulgaria is a country in the Eastern Europe that has the functionality of the free market...
15 Pages (3750 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Assessing Economic Performance for FREE!

Contact Us