Assasination of Leon Trotsky - 516 Words

The Assassination of Leon Trotsky During the power struggle in Russia, an escaped prisoner of the name Lev Bronstein, was murdered on August 20th, 1940 by Ramon Mercader. Bronstein was a Russian marxist who went against Stalin’s beliefs. He was forced to leave the country by Stalin’s wishes. However, before he left he accomplished many things such as helping the Bolsheviks into power and creating the South Russian Workers Union. Lev Bronstein was born on November 8th, 1879 and grew up in a small town in Yanovka, present day Ukraine. He was the 5th child of a well off Jewish farmer. When Bronstein was 9, he was sent to finish his schooling in Nikolayev. As a teenager he was very interested in socialism and helped create the South Russia Worker’s Union. He was later arrested along with 200 other union workers and was sent to jail for four years. While he was in prison, he married a woman named Aleksandra Soklovskaya and together they had two daughters . He abandoned his wife and kids. He then escaped prison, obtained a forged passport and changed his name to Leon Trotsky. He then moved to London, England where he joined with Lenin and his group of Russian Social Democrats. He began working on a revolutionary newspaper called Iskra. That same year, he met a woman named Natalia Sedova. They married and had two sons together. Later, while Russia was in the middle of a revolution, Trotsky escaped into the capital of Russia and became a spokesperson for the city

Emotional Intelligence And Its Effect On The Job...

Emotional intelligence relates to an individual’s ability to manage their emotions, and is shown to have positive outcomes for an organisation. Manager emotional intelligence is thought to have an effect on the job satisfaction of employees, which could be due to behaviour or leadership styles. It is inconclusive which of these reasons, if any, are the cause of the positive correlation due to the lack of overwhelming support for any one cause and the biases of the studies. Emotional intelligence was referred to by Mayer and Salovey (1997) as a set of abilities to do with understanding, perceiving, appraising, expressing, and regulating emotion (as cited in Das Ali, 2014). An emotionally intelligent manager can understand and react to employee’s emotions as well as use their own to encourage productive behaviour. Goleman (1998) suggests there are four components to emotional intelligence of â€Å"self-awareness, self-regulation, motivation, empathy, and social skill† (as cited in Malos, 2011, p. 210), while Petrides and Furnham (2001) divided emotional intelligence into sociability, emotionality, self-control, wellbeing, and general emotional intelligence (as cited in Webb, 2014). There is an agreement that emotional intelligence is about managing emotions but no definite decision on what it involves. A positive correlation between manager emotional intelligence and employee job satisfaction has been observed (San Lam O’Higgins, 2012; Sy, Tram, O’Hara, 2006), however,Show MoreRelatedDoes Emotional Intelligence Influence Job Satisfaction?1028 Words   |  4 Pagestopic of emotional intelligence (EI) have revealed findings that link EI with higher achievements of individuals. A study done by Carmeli (2009) indicated that emotional intelligence plays a role in the wellbeing of individuals. 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In a study done by Sy, Tram, and O’Hara (2006) of 187 restaurant workers, in which 62 were managers, they investigated the relationship between employees’ emotional intelligence, their manager’s emotional intelligence, employees’ job satisfaction, andRead MorePositive Psychology Has Various Applications In Our Lives.1534 Words   |  7 Pagesfor a living and our jobs play a significant role in our overall happiness and fulfilment of life. What we do for work determines (in a way) who we are, and what we contribute to the world. It only makes sense that we enjoy what we do for 40 hours (or more) in a week. There have been many studies on how aspects of positive psychology being implemented impact organizations and businesses, and how productivity and enjoyment increase w hen there is a positive environment for employees to work in. In theRead MoreTaking a Look at Emotional Intelligence1524 Words   |  6 PagesEmotional intelligence: Modern organizations are confronted with demands and pressure is growing consistently cost -effective education leadership, continues to intrigue researchers and practitioners. Considerable amount of research and attention to emotional intelligence and life, personality, social interaction, teamwork, education and leadership to identify links between social satisfactions has been paid. Today increasingly complex and changing world, researcher’s emphasized need for the newRead MoreEmotional Intelligence and Job Satisfaction: Mediated by Transformational Leadership4222 Words   |  17 PagesJob satisfaction of employees is one of the emerging issues for today’s HR managers based on the strategic link between job satisfaction and employee productivity. Satisfaction of employees is a complex phenomenon as it depends on various factors for employees at different hierarchal level of the enterprise. It is therefore essential for the executives of the organizations to cope wit h this challenge strategically. Job satisfaction concerns with physical as well as psychological aspects of jobsRead MoreEmotional Intelligence, Job Satisfaction, and Job Tenure Among Hotel Managers7445 Words   |  30 Pagestandfonline.com/loi/whrh20 Emotional Intelligence, Job Satisfaction, and Job Tenure among Hotel Managers Kara Wolfe Hyun Jeong Kim a a b Bradley University, Family and Consumer Sciences, Peoria, Illinois, USA b School of Hospitality Business Management, College of Business, Washington State University, Pullman, Washington, USA Published online: 27 Feb 2013. To cite this article: Kara Wolfe Hyun Jeong Kim (2013): Emotional Intelligence, Job Satisfaction, and Job Tenure among Hotel ManagersRead MoreThe Leadership Of Carol Baines1482 Words   |  6 Pagesthat contribute to the continued growth of the business. Finally, it questions whether situational factors had an influence in Carol’s success and whether Carol could succeed as a leader in other business context. Analysis Companies need leaders to effect changes and to improve business performance. Changes are necessary for survival, as competitors might force a company out of business if it chooses to remain stagnant. Leaders could be assigned, with position power, or it could emerge due to needs

Impact of Global Financial Crisis in Australian Property Market

Question: Write an essay on "Impact of global financial crisis in australian property market". Answer: Section: 1 Introduction The global economic crisis took place during the period of 2008 and 2009. This crisis affected most of the countries in the world. The crisis actually started due to loss of confidence of American investors from the value of mortgages because of liquidity crisis. However, the situation worsened when the stock price declined dramatically. The house that was being repossessed by the banks due to loan defaulters, worth less value than the bank loaned out (Scott, 2014). The impact of financial crisis made the situation of developing countries vulnerable. The investors lose severely, mainly those who have invested in the high gearing and ever-growing assets. Superannuation funds have declined by 30 percent to 40 percent of their pre-crisis balances . The impact was not restricted within the finance industries but also had impacts on the several other industries. The property market is one of the major sectors that have undergone severe financial downturn due to the global financial crisis of the period (Murphy, 2011). This industry was influenced worldwide from the perspectives of ownership and investment. It has experienced various levels impact from this crisis. The traditional commercial and industry property industry was severely affected from the perspective of the investors, as the superannuation funds and investment declined significantly. The dependence of property investment and property development on the retail funds led to significant decline in the activity and values of the commercial; industrial and residential property industry. The equity market of Australia also faced crisis like many other countries (Haslam McKenzie Rowley, 2013). The crisis transmitted to Australia rapidly through equity market adjustment. In the initial period, apart from collapsing of hedge funds, the non-banker providing home loans also failed. Prices of the commodities severely fallen due to this credit crunch and every firms and businesses suffered a great loss. The each ph ase of collapse in the US market echoed in Australia. The purpose of the project is to conduct a research proposal regarding the impact of global economic crisis in the property market of Australia. The proposal is centered on analyzing the several effects of this crisis. While analyzing the impacts, it requires stating the problem statement of the research; research objectives. Further, it will also justify the topic chosen for the research and the expected outcome. To identify the impacts, the research requires prior knowledge regarding the topic. Therefore, the proposal will also illustrate the conceptual framework regarding the selected topic and will set research hypothesis. Based on the research questions and the hypothesis, the rest of the research will be conducted. This requires a proper method for the research. Therefore, the proposal will also describe research methodology adopted. Finally, the proposal will describe the organization of the study, presentation of the Gantt chart and the budget required to conduct the proposal . Problem statement The property market has been mounting up from United States; Australia; United Kingdom to China; France and Spain. The rise in property price was rapid since the early 2000, because of the significant demand for the property that has created due to low interest rate for loans and scope of using security (Brown Davis 2010). The borrowers invested on the housing properties whose prices were ever growing and resell those to earn profit to refinance their mortgages. This practice has led to significant fall in the prices of property and it has fallen so much that the borrowers were unable to refinance their mortgages by reselling their property. Their debt became larger than before . In Australia, the low value of the residential property was mitigated by the first time homebuyer grants; stamp duty and reduction in the interest rate (Randolph, Pinnegar Tice, 2013). The financial crisis of 2008- 2009, has crucial impact on the property market of Australia. It has created significant tro uble in the economic activities of the country. However, this country was among the least affected countries. Since the rising price of the property market was due to the low interest rate, the country has raised the interest rate. This has caused the demand for housing to fall and the price level of the housing property market has fallen in this country (Austin, Gurran Whitehead, 2014). However, the reduction in the value of housing was not so drastic like US. Financial market associated with the real estate market causes the loss out of bank loans. However, irrespective of the magnitude of the loss, it is evident that the country has suffered in the sectors like property market due to the global financial crisis. In such scenario, it is important to analyze the activities in the property market of this country. By analyzing the factors behind the changes in the values of the property, it can be evaluated whether the property market was affected and to what extent it was influenced by the global economic crisis. Research Objectives/ Questions The overall objective of the paper is to conduct a research to evaluate the impact of global economic crisis on the Australian Property Market. The precise objectives of the paper are: To evaluate the issues that property market faced due to global economic crisis. To identify the way in which crisis in the financial market channelizes to the real estate market. To recognize factors affecting the property market changes in Australia. To discover the possible methods to overcome the volatility in the real estate market. RQ1: What are the issues faced by the property market due to financial crisis? RQ2: What are the ways in which crisis in the financial market transmitted into decline in the property market? RQ3: What are the factors that affect Australian property market? RQ4: What are the possible methods of overcoming the volatility in the property market in Australia? The proposal has formed these research questions , based on which the rest of the research will be conducted. Justification of the Project Global financial crisis of 2008-2009 is an important economic event that has several impacts on the different market. However, the housing market is a major one as the crisis did start from the increasing demand for the house due to its ever-growing valuation. The crisis generated in US and affected the countries like UK; Canada; Japan; Australia; China; New Zealand; India; France; Greece; Spain etc. Therefore, the impact of global economic crisis is crucial to be analyzed further. This crisis also affected the economic condition of Australia. The housing bubble can lead to bursting of the property market, that affects the investors to a larger extent. Therefore, it is utmost necessary to evaluate the changes in the property market due to global economic crisis. Expected Research Outcome It can be expected that the though the global economic crisis adversely affected the property market in Australia. The price of property market has fallen but the country has escaped the bursting of the housing bubble. One factor is that the interest rate has not risen significantly and shortage of housing in this country prohibited the burst of the housing boom. However, it is expected that, there is significant risk is present in the property prices of the country. Through the research, it can be expected to find the method through which the crisis has channelized to the real estate sector from the financial market. Section: 2 Conceptual Framework and Research Hypothesis The global financial crisis and the property market have two causalities such as high-yield funds managed by Basis Capital and Absolute capital. The mortgage backed capital or securities had been changed to collateralized debt obligations. These were distributed to the middle market investors like local councils; schools; universities; hospitals. The non-bank mortgage or loan providers were in trouble as the housing prices started to decline. The non-bank loan providers were dependent on the short run funding, which were sourced from the investors of the US. As these investors lose faith on the assets like property, the no matter where the mortgages belong. This has led to difficulties for these non-bank lenders. They were the first victim among the corporate of Australia to the global crisis. However, the Australian banks were less exposed to the sub-prime mortgage-backed securities. In addition to this, there was shortage of supply in the housing market. Therefore, the busting of t he housing bubble was not so severe in this economy. The impact of the financial crisis was identified when the crisis shifted into liquidity phase. The banks are the biggest institutional borrowers in this country (Flannery, Kwan Nimalendran, 2013). They heavily relied on the off-shored financing and found very difficult to refinance their maturing debts. It has been found that due to increasing numbers of slowdown of the companies and property developers caused augmentation of the losses of banks-loans. The housing price of this nation has not fallen unlike US, as it was protected by the higher incomes and comparatively low interest rate. However, some studies have found that high population and shortage of housing are the sources of high price of the houses. Forrest Yip (2011) has opined that, the doubling in the housing loan is crucially remarkable and thus entails serious apprehension. This is not because of the fact that period is short and growth in the wages lowest. Rather it is because of the huge obstacle that had emerged because of the high rate of interest. The property market remains in the rigid grasp of the housing bubble of the history of Australia. According to the opinions of two housing economists, Melbourne is considered as the epicenter of the historic bloodbath in context with the housing bubble (Hynson, 2010). The Sydney and Melbourne has reflected significant decline in the sales and leasing activities in 2008. However, the resource boom of the Queensland supported the property market of Brisbane. By March 2009 (Easton Kerin, 2010), the wealth and the income condition of the citizens has declined by 10% as the impact of financial crisis on the property market has led to largest decline in the equity prices. the common citizens of the country suffered in order to afford better housing that has led to bankruptcy (Yates, 2012). The effectiveness and the value of the property market have been reduced in Australia as the asset prices have decreased. In the period before the crisis, the office building sales in Brisbane amounted to 2.275 billion AUD, whereas, from 2008 to 2009, the 11 sales were made that has accounted for 671 million Australian dollars only (Tomlinson, 2012). This reflected the fact that the sales volume in the crisis period was dominantly captured by the low graded private buyers rather than the prime or institutional buyers. The reason behind the fall in the sale of office property was that the investors lagged finance and they have less confidence on the business. This is mainly because of limitations in the development activity as the existing firms postponed their commitments. Many have opined that the Australia was one of the lucky countries that were less affected by the global financial crisis. Another factor that helped the countrys property market to e stable was that its strong terms of trade (Eves, 2010). Moreover, the growth of the Chinese economy on which the country has been heavily d ependent on and the resource boom protected the country from drastic downturn. However, the government of this country intervened to keep the rate of interest of housing loans at a lower level, which has helped to transmit their margin of profitability and develop their property market. The government intervention also helped the real estate market to recover quickly from the negative impact of the financial crisis. The housing market of Australia has returned to the better financial position successfully than other countries and achieved recognition. Based on the problem statement and the research objectives, the Research Hypothesis can be proposed as follows, that can be tested in the research conducted. Null Hypothesis (H0): Global Financial Crisis has no significant impact on the property market of Australia. Alternative Hypothesis (H1): Global Financial Crisis has significant impact on the property market of Australia. Methodology In order to conduct the research, it is important to follow proper methodology. This paves the way for the researchers to determine the way that they have to carry out. Research Philosophy: There are three types of research philosophy: Interpretivism; Positivism and Realism (Panneerselvam, 2014). This research undertakes the positivism philosophy, because, impact of financial crisis on the property market of Australia can be understood by analyzing the obtained data. Only the data related to the topic will be analyzed. Research Approach: The approach of a research can be of two types, inductive and deductive. The approach is said o be inductive when the research aims to develop any theory based on the research. In contrast, the deductive approach is chosen when the researcher tries to use existing models and theories in explaining the findings of the conducted research (Pickard, 2012). Since this proposal has stated a hypothesis and aims to analyze the ways in which the crisis has affected the property market, it is a deductive approach of the research. Research Design: There are three kinds of research designs, such as, explanatory; exploratory and descriptive (Mitchell Jolley, 2012). The exploratory design adds extra insights to the findings. Explanatory design of research explains why the findings are of the type they are. Descriptive design indicates how the findings are taking place. In this research, the impact of crisis on the property market is to be analyzed. Moreover, to answer the research questions, the factors affecting the property market in the country have to be identified. Therefore, it is mainly based on describing the findings obtained from the data; hence, it is descriptive in nature. Research Method: There are two kinds of methods adopted in a research. Qualitative method and quantitative method are two research methods. When the research is based on data that are numerical and numerical values are analyzed, then the method is quantitative (Creswell, 2013). In this case, the statistical tools can also be applied. When the analysis is made based on the information that are non-numerical are known as qualitative data. This method follows observation and experiments and no mathematical analysis is required (Matthews Ross, 2014). In this research, the method of the research is both quantitative and qualitative. This is because; to check the effects of the financial crisis on the housing market, the prices of this market has to e analyzed. This requires quantitative analysis, like whether the prices are going up or down and how significant is the changes. Moreover, the research also takes into account the information regarding the factors; the scenario of the financi al market and government policies, which are qualitative in nature. Based on both types of information the research will be conducted. Data Collection Method: There are two kinds of data collection methods. One is primary data collection and secondary data collection. The primary data collection method is obtained when the researcher is collecting data from direct market survey through questionnaire or personal interviews (Robson McCartan, 2016). In contrast, the secondary data collection method is the one in which the data or information is collected from any other sources, like, journal article; books; websites; government publication of different survey etc. The data collection method o this paper is secondary in nature. This is because; both qualitative and quantitative data has been obtained from different journal articles and news articles. All the information regarding the effects of global economic crisis on property market of Australia has been obtained from the different sources. Hence, the research is based on secondary data. Data Analysis: The data can be analyzed statistically or by explaining the facts. The qualitative analysis can be done by explaining the possible factor affecting and analysis the market scenario. Moreover, quantitative data like prices of property and/or other financial indicators can be analyzed with the help of statistical tools like regression. This will help to identify the statistical significance of the factors in affecting the property market of Australia. Research Limitations: Time; finance and availability of information are the major factors that affect research. Due to limitation of time, the researchers may ignore many important aspects (Shipman, 2014). Lack of information may not give proper result out of the research. In addition this, finance is a major contributor in an academic research. Lack of finance may prohibit the researcher to get further information in detail. However, in this research, the information is vastly available and time is not also a constraint as it does not adopt primary data collection method. Section: 3 Organization of the Study In the Chapter One, of the research, information regarding the global financial crisis in the period of 2008 and 2009 and its impact on the real estate market of Australia, will be discussed. Research aims and objectives will be stated in this section. The research questions will be formed under this chapter as well. The Chapter Two will review the literature regarding the selected topic. It will discuss various concepts regarding the global financial crisis; and how it has influenced the property market of Australia. In the Chapter Three, the research methodology will be discussed. It will discuss the methods; approach; designs and philosophy of the research that is to be conducted. Chapter Four will be based on the data analysis. In this chapter, all the findings will be analyzed logically or mathematically. The results of this analysis will be used in answering the research questions formulated in the chapter one. In Chapter Five, the important findings will be summarized. If necessary, the paper may end with a recommendation. Gantt Chart Table 1: Timeline of the Project Task Start Date Duration End Date Research Outline 2-May 21 22-May Conceptual Framework 23-May 49 10-Jul Research Methodology 11-Jul 42 21-Aug Data Analysis 22-Aug 28 18-Sep Final Report Submission 19-Sep 21 9-Oct Table 2: Deliverables Table 3: Gantt Chart Project Budget and Budget Justification In order to complete the project within the stipulated period, the budget of the proposed research is around $3500. Justification While making the research proposal, journal articles or news articles are required. Accessing these has taken some charges. This has cost $500. In order to proceed with the Chapter two, Literature Review, further journal articles; textbooks and other online sources are required, in order to understand the deep insights of the topic. This will cost another $1500. The research is based on both qualitative and quantitative data. However, the research is not primary in nature, but to access secondary data it will charge about $1000. This is because some information are not available freely and need to be subscribed. In analyzing the data, statistical software or access to computers is also required. This will charge $500 more. Table 4: Budget Summary Task Cost Research Outline 500 Conceptual Framework 1500 Research Methodology (Data Collection) 1000 Data Analysis 500 Final Report Submission - References Austin, P. M., Gurran, N., Whitehead, C. M. (2014). Planning and affordable housing in Australia, New Zealand and England: common culture; different mechanisms.Journal of Housing and the Built Environment,29(3), 455-472. Brown, C., Davis, K. (2010). Australias experience in the global financial crisis.Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, 537-544. Creswell, J. W. (2013).Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications. Easton, S. Kerin, P. (2010). Market Efficiency and the Global Financial Crisis.Australian Economic Review,43(4), Eves, C. (2010). REVIEWING THE IMPACT OF THE 2008/2009 Global Financial Crisis (Gfc) On International Property Markets And Property Professions. IRERS. Flannery, M. J., Kwan, S. H., Nimalendran, M. (2013). The 20072009 financial crisis and bank opaqueness.Journal of Financial Intermediation,22(1), 55-84. Forrest, R. Yip, N. (2011).Housing markets and the global financial crisis. Cheltenham, U.K.: Edward Elgar. Haslam McKenzie, F. M., Rowley, S. (2013). Housing market failure in a booming economy.Housing Studies,28(3), 373-388. Hynson, C. (2010).The credit crunch. Mankato, Minn.: Sea-to-Sea Publications. Matthews, B., Ross, L. (2014).Research methods. Pearson Higher Ed. Mitchell, M., Jolley, J. (2012).Research design explained. Cengage Learning. Murphy, L. (2011). The global financial crisis and the Australian and New Zealand housing markets.Journal of Housing and the Built Environment,26(3), 335-351. Panneerselvam, R. (2014).Research methodology. PHI Learning Pvt. Ltd.. Pickard, A. (2012).Research methods in information. Facet publishing. Randolph, B., Pinnegar, S., Tice, A. (2013). The First Home Owner Boost in Australia: A case study of outcomes in the Sydney housing market.Urban Policy and Research,31(1), 55-73. Robson, C., McCartan, K. (2016).Real world research. Wiley. Scott, K. D. (2014). Global Financial Crises. Shipman, M. D. (2014).The limitations of social research. Routledge. Tomlinson, R. (Ed.). (2012).Australia's unintended cities: The impact of housing on urban development. Csiro Publishing. Yates, J. (2012). Australia's housing affordability crisis.Australian Economic Review,41(2), 200-214.