What Really Caused the Recession in the United States in...

What really caused the recession in the United States in the 1980s? There was a great economic decline in the late 1970s and the beginning of the 1980s where there was a decline in trade and industrial activity. The 1980s was not a good time for the United States because the Regan Administration during this period began a 30-year period of financial deregulation. When president Regan was elected into office he promised the Americans that he would bring to an end the supply- sides economics. He argued that economic growth in the United States would be created effectively by lowering barriers for people to supply goods and services, as well as, invest. Therefore, his first move after he entered into office was to deregulate banks and oil. For that reason, there was a sharp expansion in the financial sector because there was also an expansion in the banking industry. There was an increase in the number of investment banks that went public; hence, bringing a very huge sum of the stake holder capital. This essay aims at looking at what caused factors led to the recession in the 1980s as the period saw many employees being arrested for financial fraud. The economy of the United States had gone through a tremendous change as even employees’ salaries had been increased by a 25 % increase even those who were not working for the investment banks (Ehrman, 143). The employees working for the investment banks saw a 150% increment in their salary (Cynamon, Steven Mark, 67). TheShow MoreRelatedEssay about 1980 s Double Dip Recession1407 Words   |  6 Pagesï » ¿1980’s Double Dip Recession Overview I. 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The considerable difference in the income inequality and the high poverty rates is what interested me and in particularlyRead MoreThe Economic Situation Of Latin America2506 Words   |  11 PagesMexico: Experiences in the 1980’s and challenges for the future, Latin American countries underwent the worst economic recession during the 1980’s. The distribution of incomes after the 1940’s was a radical change because there was a hu ge gap between poverty level and the elite members of society. After that point in history it has continued the same way up until contemporary times. The considerable difference in the income inequality and the high poverty rates is what interested me and in particularlyRead MoreThe Republic Of Dominican Republic1338 Words   |  6 Pagespeople started to become interested in what the country had to offer. Problems began to arise when people did not have many jobs to support themselves with. 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Bpâ€Deepwater Horizon Case Study Ethics - 1883 Words

------------------------------------------------- BP—Deepwater Horizon Case Study INT1001 Study Skills Module Reading and Writing Skills—Summative Assignment Done by: Mew Hui Ying ------------------------------------------------- Date: 12 February 2013 ------------------------------------------------- Industry: Oil and Gas ------------------------------------------------- Company: British Petrol Contents Page No. 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.3 2. The Case: 2.1 The Deepwater Horizon Explosion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 2.2 Key Stakeholders and their Involvement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....5 2.2.1 Shareholders†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 2.2.2 Government†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....5 2.2.3 Fishermen,†¦show more content†¦The government was also responsible for activating coast guards and the military in its response to the spill. Hence, the role of the US government here is crucial as a â€Å"parent† to ensure that BP acts in the welfare of its citizens. 2.2.3 Fishermen, Activists and Environmentalists With the huge impact of the oil spill on marine life and coastal regions, fishing and tourism industries of the places affected in the Gulf Coast severely declined. In the fishing industry, the incident led to an approximate $2.5 billion loss, while tourist industries experienced a loss of a predicted $23 billion (Jarvis, 2010). In addition, the moratorium placed on deep water drilling left 58,000 workers unemployed (ibid). In its Annual General Meeting in 2011, BP faced protests against BP’s executive’s remunerations and voiced their injustice (Webb amp; McVeigh, 2011). Facebook pages such as â€Å"Boycott BP† and RIP Spongebob, who died in an oil spill cause of BP† have been set up by activists, and have garnered 847,730 and 468,157 likes respectively (Jarvis, 2010). Hence, the impacts on these stakeholders have varying degrees, but are nonetheless affected one way or another by BP’s mistake. 2.3 Ethics and Values According to BP’s Code of Conduct, BP †commits to â€Å"excellence and to the disciplined management of our operations† (BP, 2013a). 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This case study will briefly explore the importance of managing activities in today’s modern operations, and why it is critical to understand the strategic and value of operations management. We will examine the British Petroleum (BP) oil spill that occurred out in the Gulf of Mexico in April of 2010. The oil spill not only stirred many controversies but also affectedRead MoreBp Deep Water Horizontal Explosion3148 Words   |  13 PagesINTRODUCTION BP originated from a British petroleum company founded in 1909. After experiencing crises during the 1980s-1990s, the company started to have a cost cutting culture. During mid-1990s, with an aggressive growth strategy, BP started to grow and reposition. After BP merged with Amoco in 1998, John Browne started to serve as chief executive until May 2007. 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Ethical Leadership †Analysis Free Essays

Reader also used the â€Å"waiter rule† to explain that a lot can be said about a person’s character by the way they treat the waiter, which is much like the golden rule, treat others as you wish to be treated. This piece of advice relates to the business world, because professionals should respect one another, tell the truth, and conduct themselves in an ethical manner. Furthermore, Reader discussed the leadership and ethical leadership. We will write a custom essay sample on Ethical Leadership – Analysis or any similar topic only for you Order Now He described leadership as someone who inspires people to achieve a goal. He elaborated on this concept by stating that ethical leadership is when a person leads y Influencing their followers and use Input from the followers to shape goals and purposes. Moreover, an ethical leader should be consistent In both words and actions, lead by example, and can be referred to as a role model. These ethical leaders are extremely Important to employees. Reader shared some astounding statistics as to why employees need role models: 56% of employees personally observed misconduct and out of those who observed it, 42% did not report it. This shows that the tone at the top is extremely important in firms. If the management is more likely to behave unethically, then this attitude trickles down and negatively effects the ethical values of everyone in the company. In addition, he discussed how peer commitment is important. For example, most times, an employee will look to see what colleagues are doing in order to make a decision. This information relates to me professionally because I will be starting my career as an auditor soon and the attitudes and ethical culture of the company and my colleagues will definitely affect how I perform my Job. Reader also discussed how a leader can promote and ethical culture. These ten pieces of advice would definitely help me in a professional setting because at one mint I will be leading a group of people on an audit engagement. The first piece of advice is to walk the walk, which means that the leader needs to lead by example. Next, he states that the leader should keep people in the loop. This means that the leader needs to involve the employees and inform them on various changes and adjustments happening in the organization. Reader suggests that the leader should also encourage thoughtful dissent and show the employees that he/she truly cares. Furthermore, Reader states that in order to promote and ethical culture, the leader would not sweep problems under the rug, but should deal with each problem In an ethical manner. In Dalton, the leader should celebrate the successes In the organization and be fair to all employees. Also, the leader should make ethics a priority. Often times In the professional world, leaders behave ethically but do not truly make ethics a priority. Although sometimes difficult, leaders need to make tough the leader should â€Å"get the right people eon the bus and keep them,† which means that the leader should find employees that share the same ethical values and do whatever is possible to keep them on board. Overall, I think Reader provided some great examples and advice on ethics and ethical leadership. All of the examples and advice he discussed relate to a professional environment and especially auditing. Auditors do not have the best reputation because of unethical behaviors by professionals, like Arthur Andersen, in the past. Often times the auditing profession can really challenge and test an individual’s ethical and moral compass. However, Reader’s speech reminded me what I need do to make sure I maintain ethical relationships and become an ethical leader in my audit career. How to cite Ethical Leadership – Analysis, Essays