The effects of the credit crunch - Free Essay Example

Sample details Pages: 9 Words: 2714 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? International Stock Markets Introduction Don’t waste time! Our writers will create an original "The effects of the credit crunch" essay for you Create order The objective of this document is to gain an understanding of the effect that the credit crunch has had on international stock markets, what the different governments have done or are planning to do to alleviate this problem and the elements that precipitated such a crisis. Therefore in the document the author first begins by defining the credit crunch and the current situation. Then in the next section the author goes on to analyze the effects the crisis has had on the different stock markets across the globe à ¢Ã¢â€š ¬Ã¢â‚¬Å" and specifically looks at the effect that the crunch has had on the American Stock Exchange (the Dow Jones Index) and the Shanghai stock market. Based on the findings the author will then continue to further analyze the specific elements that precipitated these events and look to the future of what is in store specifically for these two countries, what they can and have done to alleviate this problem and what may happen to the global economy as a whole. The Credit Crunch Today the word credit crunch has become a household buzzword and has been known by many different terms throughout the developed and the developing world. Credit Squeeze, Credit Freeze and Credit Crisis are some of the other terms that have been used to define the present crisis that has engulfed the entire globe and brought many economies to the brink of bankruptcy à ¢Ã¢â€š ¬Ã¢â‚¬Å" the Icelandic economy being the best example. So what is a credit crunch or a credit squeeze? It is the decline of available credit facilities in an economy because banks and other financial organizations have tightened their lending regulations in response to a loss of confidence in the consumers ability to pay back loans. Further in order for us to consider a certain situation as a credit crunch, the availability of credit should reduce despite changes in interest rates. By this it is meant that irrespective of an increase or decrease in interest rates there should still be a lack of credit availability in the open market. These are hallmarks of a credit crunch. Therefore it can be stated that in a credit crunch situation there ceases to be any identifiable relationship between the availability of credit and the changes in the interest rates. Another sign of a credit crunch is when investors and bankers and all lenders in general start looking for safe, conventional and low risk investments. This obviously comes at the expense of small and medium scale enterprises, which are the ultimate victims as banks and lending organizations refuse to lend to them and thus push them out of business due to the liquidity crisis they face. Therefore looking at everything that has been stated above it would suggest that a credit crunch in effect would reduce the supply of money in an economy facing the crisis and thus cause a reduction in the disposable income of its population due to the lack of funds, loss of jobs (caused by enterprises going out of business) and credit facilities to get them through the difficult times. The Effects on the Market The credit crunch that gripped the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s developed economies throughout 2008 and is expected to continue well into 2010 has far reaching consequences. This is because a reduction in disposable income affects many different industries directly and all the industries throughout the globe indirectly. Thus it can be said that such a crisis in the developed world would eventually cause a devastating domino effect or rather a cascading effect throughout the world due to globalization and the inter-dependence of economies whether developed or otherwise on one another. The effects of the credit crunch on the market indexes were first seen in the Dow Jones and the FTSE 100 and some other stock exchanges in the developed world. The Dow Jones, which had been at 14,000 point in 2007, saw a huge drop in September and October 2008. Today it is stated that American stocks as a whole have lost 20% of their share value. While the drop in the FTSE 100 was caused by the credit crunch that was in effect in the United Kingdom (starting with the near bankruptcy of Northern Rock) à ¢Ã¢â€š ¬Ã¢â‚¬Å" the drop in the Dow Jones also had an indirect effect on the FTSE. October was one of the most volatile months in the history of many stock exchanges around the world and the gloom and doom forecasts that were made by economic pundits did not help the markets either. The Russian stock exchange and the Mumbai stock exchanges had to be shut down on several occasions in October and November 2008 to stop the free fall of markets. Likewise even the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s fastest growing economy China was faced with severe hardship as the Shanghai stock exchange dropped in value by close to 50% from its peak in July 2007. As stated previously due to globalization all economies throughout the world are inter-dependent and co-dependent on one another[1]. Therefore when a crisis hits one large economy the consequences are far reaching and as is apparent in this case quite devastating to say the least[2]. Taken at face value one would say that there is no connection between the credit crunch and the drop in the market indexes around the world, however it does not take long to make the connection between the two. For instance the lack of available credit in the United States caused a decrease in the disposable income that is in the hands of its public. This reduced a drop in consumption, which hit the housing market, the auto market and the retail sector. The effects on the housing market then caused many banks and investment houses to go bankrupt, as they had invested heavily in mortgage related stocks. Further the hit to the auto and retail sector caused a direct hit to share prices in these industries. Add to this the almost daily occurrences of banks and other huge financial institutions either going bankrupt or desperately asking for help caused even more devastation in the stock markets, thus causing them to loose their value at previously never seen rates. America and China The devastation that has been caused throughout the world has caused fear throughout the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s developed economies that globally we stand on the brink of a prolonged recession that will eventually cause a contraction of more than 10% in productivity, which will then precipitate a depression much akin to the à ¢Ã¢â€š ¬Ã…“great depressionà ¢Ã¢â€š ¬Ã‚  of the 1930s[3]. In an attempt to avoid such a situation at all costs economies throughout North America and Europe have done their utmost best to jump-start the floundering credit and stock markets through injection of funds and huge à ¢Ã¢â€š ¬Ã…“stimulusà ¢Ã¢â€š ¬Ã‚  or à ¢Ã¢â€š ¬Ã…“bail outà ¢Ã¢â€š ¬Ã‚  packages. In the United Kingdom alone the current Labour government has gone out on a limb to use taxpayersà ¢Ã¢â€š ¬Ã¢â€ž ¢ money to bail out many banks and credit organizations. Further the government has also bought stakes in all the banks and credit organizations that have been bailed out and have insisted that these organizations start lending to the general public in an attempt to increasing spending and protect other industries such as the retail, housing and auto industries from collapse. The United States to has carried out similar steps and has even gone as far as requesting the federal reserve to buy the à ¢Ã¢â€š ¬Ã…“toxic assetsà ¢Ã¢â€š ¬Ã‚  that are held by the banks in an attempt to clean up the economy and usher in a new era of conservative economics. In the United States different stimulus packages have been provided to different sectors such as the auto sector to save the à ¢Ã¢â€š ¬Ã…“big 3à ¢Ã¢â€š ¬Ã‚  from near collapse. Likewise economies have taken many different steps such as reducing interest rates, increasing lending from central banks to the financial sector, guaranteeing investors funds in bank deposits etc. Even economies like China, India and Russia have not been spared and the governments in those countries too have pledged huge amounts of funds in stimulus packages. In times of recession, usually the commodities markets do very well and as a result are not as affected by the crisis as countries that are not based on commodities markets. However in this case due to the far-reaching consequences of the credit freeze, there was a drop for demand of commodities, which has caused the Middle Eastern, African, Canadian and Australian economies to all falter. While the Canadian and Australian markets are not solely dependent on commodities with the rising oil and gas prices a huge component of the income in these economies were made up of commodities. Therefore a decline in commodities prices caused a further blow to the once robust economies that weathered the storms of the à ¢Ã¢â€š ¬Ã…“dot comà ¢Ã¢â€š ¬Ã‚  burst[4]. Unemployment levels and home foreclosure figures in the United States currently stand at unprecedented levels and analysts say that it is worse than the devastation that was seen in the 1950s and then again to the 1980s[5]. On more than one occasion the current President of the United States, the President-Elect and head of the Federal Reserve are all known to have said that they are on the brink of a depression and will do everything within their means to avoid such a situation from happening. The very fact that these individuals even tout the term à ¢Ã¢â€š ¬Ã…“depressionà ¢Ã¢â€š ¬Ã‚  can only mean that the country is very near such a situation, which can only mean that we should expect further financial doom in the coming months and years[6]. When the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest economy slows down, it has a ripple effect throughout the entire world[7]. At one time it was thought that China, India and Brazil the emerging economies would be untouchable, however the past few months and the performance of their stock exchanges have shown us in no uncertain terms, that this is not the case. America is the biggest consumer in the world. And when the American economy slows down and in this case when there is decrease in the money supply à ¢Ã¢â€š ¬Ã¢â‚¬Å" this has a direct effect on consumption. When the consumption levels in the United States drops all countries that export into the United States are affected. China, India, Canada, Saudi Arabia, Mexico and countless other countries export goods and services in to the United States and are therefore greatly affected by the drop in consumption. When these economies are affected then other economies that are dependent on exporting into countries like China and Canada are affected. For instance the African countries that supply steel and other commodities to China are greatly affected due to the drop in Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s export demands in the United States. And thus the domino effect goes on. The wors t part is that factors exacerbate one another and cause increase devastation as the problem persists and makes it harder and harder for governments to reverse the trends as time passes by. This is why early intervention is imperative and some pundits even think that the global economy has already reached the point of no return and that we are falling into an abyss that we will not get out of in the near future and not without some creative and radical changes taking place. In terms of solving the crisis, many economists and financial analysts have put forward different theories on what should and should not be done. There have been suggestions that China should take the lead on these issues and try to jump start the world economy by bailing out the United States and through that ensuring the growth of its own economy. It is true that the Chinese have access to over 3 trillion dollars in foreign reserves but even if they were to use up all those funds to buy up shares and stocks in the faltering US economy that still leaves the question of the à ¢Ã¢â€š ¬Ã…“toxic assetsà ¢Ã¢â€š ¬Ã‚  unanswered and unsolved. The problem in relation to à ¢Ã¢â€š ¬Ã…“toxic assetsà ¢Ã¢â€š ¬Ã‚  is not that they cannot be purchased but that their actual value is unknown and most analysts cannot put a price tag on it as the variable are volatile, ambiguous and extremely complicated. Further it has also been stated that China should attempt to focus its energies on its domestic economy as its banking system much like Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s highly regulated banking system is in good shape[8]. While it is true that China has a huge domestic market if it were to lead the way and increase import demand, this would still lead to a very small percentage increase in the import demand when compared to that of the developed economies. Therefore it is suggested that an increase in import demand in China, India and Brazil together will still not be sufficient make up for the short fall that is caused by the recession and ensuing drop in demand in the developed economies. Conclusion It is apparent from everything that has been stated above that the credit crunch, which resulted from the mortgage meltdown that occurred in the United States and the United Kingdom has had far reaching consequences on the stock markets and both the emerging and developing economies around the world. Governments have done everything in their capacity from injecting unprecedented levels of investment and stimulus packages into their economies on both sides of the globe but the effects have been lack luster or almost non-existent. The stock markets still continue to be affected, the liquidity crisis is only getting worse and not better and there has been no solution found to wipe out à ¢Ã¢â€š ¬Ã…“toxic assetsà ¢Ã¢â€š ¬Ã‚  as analysts and economists are not able identify their real value due to the complicated nature of these investments. Throughout the last few decades these developed countries have been preaching to the developing world[9]. This was especially true during the Asian Financial crisis toward the end of the last century[10] and now it is time that the developed economies actually practice what they preached all these years. References Cai, K. G. (2001). à ¢Ã¢â€š ¬Ã…“Is a Free Trade Zone Emerging in Northeast Asia in the Wake of the Asian Financial Crisis?. Pacific Affairs, 74(1), Caldwell, J., ODriscoll, T. G. (2007). à ¢Ã¢â€š ¬Ã…“What Caused the Great Depression?à ¢Ã¢â€š ¬Ã‚ . Social Education, 71(2), pp. 70. Eagle, D. (1994). à ¢Ã¢â€š ¬Ã…“The Equivalence of the Cascading Scenario and the Backward-Bending Demand Curve Theory of the 1987 Stock Market Crashà ¢Ã¢â€š ¬Ã‚ . Quarterly Journal of Business and Economics, 33(4), pp. 60. Feridhanusetyawan, T., Stahl, C., Toner, P. (2001). à ¢Ã¢â€š ¬Ã…“APEC Labour Markets: Structural Change and the Asian Financial Crisisà ¢Ã¢â€š ¬Ã‚ . Journal of Contemporary Asia, 31(4), pp. 491. Grimes, A. (1998). à ¢Ã¢â€š ¬Ã…“The Asian Financial Crisis: How Long Will the Downturn Last?à ¢Ã¢â€š ¬Ã‚ . New Zealand Economic Papers, 32(2), pp. 215. Jiangli, W., Unal, H., Yom, C. (2008). à ¢Ã¢â€š ¬Ã…“Relationship Lending, Accounting Disclosure and Credit Availability during the Asian Financial Crisisà ¢Ã¢â€š ¬Ã‚ . Journal of Money, Credit Banking, 40(1), pp. 25. Leightner, J. E. (2007). à ¢Ã¢â€š ¬Ã…“Thailands Financial Crisis: Its Causes, Consequences, and Implicationsà ¢Ã¢â€š ¬Ã‚ . Journal of Economic Issues, 41(1), pp. 61. Leijonhufvud, A. (2003). à ¢Ã¢â€š ¬Ã…“Reflections on the Great Depressionà ¢Ã¢â€š ¬Ã‚ . Economic Record, 79(246), pp. 388. Raines, J. P., Leathers, C. G. (1994). à ¢Ã¢â€š ¬Ã…“The New Speculative Stock Market: Why the Weak Immunizing Effect of the 1987 Crash?à ¢Ã¢â€š ¬Ã‚ . Journal of Economic Issues, 28(3), pp. 733. Szekely, G. J., St. P. Richards, D. (2004). à ¢Ã¢â€š ¬Ã…“The St. Petersburg Paradox and the Crash of High-Tech Stocks in 2000à ¢Ã¢â€š ¬Ã‚ . The American Statistician, 58(3), pp. 225. 1 Footnotes [1] Raines, J. P., Leathers, C. G. (1994). à ¢Ã¢â€š ¬Ã…“The New Speculative Stock Market: Why the Weak Immunizing Effect of the 1987 Crash?à ¢Ã¢â€š ¬Ã‚ . Journal of Economic Issues, 28(3), pp. 733 [2] Leightner, J. E. (2007). à ¢Ã¢â€š ¬Ã…“Thailands Financial Crisis: Its Causes, Consequences, and Implicationsà ¢Ã¢â€š ¬Ã‚ . Journal of Economic Issues, 41(1), pp. 61 [3] Caldwell, J., ODriscoll, T. G. (2007). à ¢Ã¢â€š ¬Ã…“What Caused the Great Depression?à ¢Ã¢â€š ¬Ã‚ . Social Education, 71(2), pp. 70 [4] Szekely, G. J., St. P. Richards, D. (2004). à ¢Ã¢â€š ¬Ã…“The St. Petersburg Paradox and the Crash of High-Tech Stocks in 2000à ¢Ã¢â€š ¬Ã‚ . The American Statistician, 58(3), pp. 225 [5] Eagle, D. (1994). à ¢Ã¢â€š ¬Ã…“The Equivalence of the Cascading Scenario and the Backward-Bending Demand Curve Theory of the 1987 Stock Market Crashà ¢Ã¢â€š ¬Ã‚ . Quarterly Journal of Business and Economics, 33(4), pp. 60 [6] Leijonhufvud, A. (2003). à ¢Ã¢â€š ¬Ã…“Reflections on the Great Depressionà ¢Ã¢â€š ¬Ã‚ . Economic Record, 79(246), pp. 388 [7] Cai, K. G. (2001). à ¢Ã¢â€š ¬Ã…“Is a Free Trade Zone Emerging in Northeast Asia in the Wake of the Asian Financial Crisis?. Pacific Affairs, 74(1) [8] Jiangli, W., Unal, H., Yom, C. (2008). à ¢Ã¢â€š ¬Ã…“Relationship Lending, Accounting Disclosure and Credit Availability during the Asian Financial Crisisà ¢Ã¢â€š ¬Ã‚ . Journal of Money, Credit Banking, 40(1), pp. 25 [9] Feridhanusetyawan, T., Stahl, C., Toner, P. (2001). à ¢Ã¢â€š ¬Ã…“APEC Labour Markets: Structural Change and the Asian Financial Crisisà ¢Ã¢â€š ¬Ã‚ . Journal of Contemporary Asia, 31(4), pp. 491 [10] Grimes, A. (1998). à ¢Ã¢â€š ¬Ã…“The Asian Financial Crisis: How Long Will the Downturn Last?à ¢Ã¢â€š ¬Ã‚ . New Zealand Economic Papers, 32(2), pp. 215

The Effect Of Computers On Concentration On A Task

My group decided to investigate the influence of computers on concentration (on a task) of adolescent boys. I wanted to find out if computers actually inhibited the concentration of teenage boys, by comparing the results of tests done by a group using pen and paper, to another group’s test results, who had done the exact same test on computers. Before our group decided to use computers as the treatment, we spent several days speculating, brainstorming and researching. We eventually decided on our treatment, because of the increasing influence of technology on our lives, and its growing amalgamation with the schoolyard. When I searched the effects of computers on concentration, Google spewed out 43,600,000 results! Based off the search results, it became very clear to me that even though computers have many advantages; for example, personalised learning and the ability to improve writing skills, they also have one major flaw, they can be very distracting through games and socia l media. Based off that information I assumed that the test results from the students on the computers, would be worse than the results from the pen and paper tests. Next we started developing an experimental plan, we decided to use a Year 12 Maths class (26 pupils) on at the same time as our Statistics class, as the experimental unit. In order to randomly split the participants in half, we used counters. 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Understanding Social Perception Managing Diversity Free Essays

Understanding Social Perception amp; Managing Diversity Perception can and is influenced by a number of different things whether from the things that is read, seen on television, or simply from what we retain from family and friends. The way that perception is interpreted determines how we perceive people or our surrounding. Steve Harvey film and book Act like a Lady Think like a Man elaborates on how the perception between genders, as well as the diversity that distinguishes the communication barriers between men and women and helps to break down that barrier. We will write a custom essay sample on Understanding Social Perception Managing Diversity or any similar topic only for you Order Now In the text Organizational Dynamics and Human Behavior (second edition) major component of social perception and the Kelley’s Model of Attribution are reflected in Act like a Lady Think like a Man and will be elaborated on how it all relates throughout our discussion. Act like a Lady Think like a Man shines light on how men and women perception of the opposite gender is totally different. A woman may view all men in a negative light based off of one negative out come and a man will put every woman in the same category based off of what a woman requires. With both genders categorizing each other the text refers to this as stereotyping. Stereotyping occurs when individuals are placed into categories. For example Act like a Lady Think like a Man placed men in to the different categories Momma’s Boy which is a man who has yet to let go of his mother and tend to his woman, then there is the non committer who is a man who is not willing to go to the next phase which is marriage, the dreamer who will not just focus on accomplishing one task at a time but doesn’t seem to know what and how to implement his plan, and then there is the player who just simply will not commit to anyone due to the desire and challenge in playing the game. Act like a Lady Think like a Man is a guide for women to understand how to perceive men. Steve Harvey has simplified by encoding the males perception of a females, which means he has created a mental representation on how the male mind works (kinicki, 2009, p. 64). In Act like a Lady Think like a Man Lauren was a successful young female CEO of a Major company who wanted a man who is on her level or higher which she believed would make them more compatible in a relationship. Lauren knew what she wanted in a man and received it all but soon came to realize that her dream guy wasn’t what she needed. She met a dreamer Dominic who made her happy with the little things that cause her to reflect back on the different occurrences and share with friends how much this individual made her happy even though he did not possess the required traits she looked for initially. Event memory is containing information for specific events and general events, as well as personal memory which contains information of a single individual or group ((kinicki, 2009, pg. 6). Lauren had to make a judgment call on what she wanted. Was it going to be her happiness with a gentlemen that had potential to be what she wanted or was she going to sacrifice her happiness for status. This was the retrieval process that is retrieved from the memory to make a decision. When a man approaches you you’re the one with total control over the situation-whether he can talk to you, buy you a drink, dance with you, get your number, take you home, see you again, all of that. The woman is in control from the start. For the non committer he doesn’t feel the necessary urge to go to the next phase because the woman does not require it of him, by giving him the perception that you are content in with the current status. This relates to managerial implication through both a performance appraisal and the leadership aspect. Performance appraisal determines good versus poor performance through motivation and commitment and loyalty. Act like a Lady Think like a Man, Kristin realized that her boyfriend the non committer of nine years wasn’t willing to go to the next phase of their lives because she didn’t require anything from him so he displayed no willingness to want more. Leadership is when you lead by example. Kristin then began to make changes by encouraging him to want to apply for a better job and by just simply change the environment of their home through redecorating. Act like a Lady Think like a Man indicated that a woman can find all kinds of deficiencies in themselves-â€Å"I didn’t do this right,† â€Å"I wasn’t good enough,† â€Å"I didn’t love him the way I should,† â€Å"she came in here and outperformed me† (Harvey). Women need to reframe from placing the blame of the man’s actions on themselves. By holding on to that weight can be hindering for future encounters. Steve Harvey said, â€Å"You simply cannot drive forward if you’re focused on what’s happening in the rearview mirror. † Causal attributions is constantly formulating cause and affect explanations for our own and others behavior (kinicki, 2009, pg. 8). Kelley’s Model of Attributions proposes that behavior can be attributed either to internal factors within a person or external factors within the environment (kinicki, 2009, pg. 69). Consensus involves a caparison of an individual’s behavior with that of his or her peers. In Act like a Lady Think like a Man the men were easily influenced by what the others were doing or would say about them. The men would go to play basketball every Thursday and out for a night cap afterwards if one were to attempt to stray from the usual the group would instantly began to place judgment instead of being excepting of prior plans. External factors are behaviors caused by environmental characteristics. Men are more concerned on how their surrounding perceives them and their status. Women want their love to be reciprocated in the same way they give it where as men will reciprocate their love only to the one that feel is deserving of their love. A man is not just going to provide and share his love with just anyone he has to know that you are the one. Women should expect that a man will pay for your dinner, movie, and more in exchange for her time. Men view women who expect this type of treatment as a gold digger, which is someone who is just after the contender with the most. Diversity represents the multitude of individual’s differences and similarities that exist amongst people. In Act like a Woman Think like a Man diversity is reflected in the way that men and women carry themselves, communication styles, and perception of one another. In conclusion Act like a Woman Think like a Man relates to diversity and perception between genders. Diversity highlight how different the thought patterns are but all how it is similar also. Although men are not as open and expressive as women we are all looking for the same things from each other. The perception on how the information is process is totally different but that’s what makes a relationship or organization success is the differences. Act like a Woman Think like a Man helps to understand diversity and perception from a relationship status and through a male’s point of view on where women need help on understanding the male species. Just like an organization has standards and employees respect them women should have standards also. â€Å"Men respect standards get some,† Steve Harvey (Harvey). References Kinicki, A. and Kreitner. R. (2009). Organizational dynamics and human behavior. (Second ed. , pp. 64-70). New York: McGraw Hill. Harvey, S. (2009). Act like a lady, think like a man. New York: HarperCollins Publishers. Harvey, S. (n. d. ). Goodreads. Retrieved from www. goodreads. com/author/quotes/206062. Steve_Harvey Story, T. (Director) (2012). Think like a man [Theater]. (Story, 2012) How to cite Understanding Social Perception Managing Diversity, Papers

Perform Technical Work And Enhance Skills â€Myassignmenthelp.Com

Question: Discuss About The Perform Technical Work And Enhance Skills? Answer: Introducation To become an expert engineer, it is important to collaborate with other people in order to learn how to perform technical work and enhance skills (Shen, 2010). Various aspects of engineering practice require effective collaboration for work to be effectively performed. Collaboration in the engineering practice can involve several expert engineers working together to solve a specific problem or an expert engineer working with new engineers to help them gain work-specific skills (Whitehead, 2007). As an engineering student, technical skills are easy to apply in any scenario that involves collaboration. Recently, I was involved in a class project which was done in groups of five. The project required people with technical drawing skills as well as communication skills. I was appointed as the group leader and was responsible for ensuring group activities were completed as expected. Through the collaboration, the group members were able to complete the project in time. The collaboration e xperience in the group gave me insight into my strengths and weaknesses. I realized that I need to improve my communication skills in order to communicate with others effectively. Besides my shortcomings, I found collaboration to be a key tool for achieving success in team projects. Collaboration was great for the project as it required different skills are required, but it was undermined by disagreements which accounting group communication. Recently, I was appointed as a leader of a football team. As the leader, I was responsible for overseeing team activities and reporting issues that emerge to the team manager. My roles in the team included developing a training schedule, sending match invitations, and changing players. The leadership role required effective communication and leadership skills in order to manage the team well. Often, I had to advise players who faced issues when playing on the field. In one case, I had to instruct one player to work on his dribbling skills in order to become an effective mid-fielder who could help the team to score more goals. Instructing the players was not an easy process. Some players ignored my instructions and at times challenged the advice I gave. Being the team leader, I had to handle such cases with caution to prevent conflicts which could turn dysfunctional and harm the harmony in the team (Deutsch, 2011). In cases where team players disagreed with my instructions, I requeste d their opinions to gain an insight into their preferences and find a solution that could work for both of us. This resolution process was effective and assisted me to forge strong bonds with the team members. To succeed as an engineer in any country, I have to possess several competencies which include analytical thinking, change leadership, organizational awareness, and teamwork. I believe that I have weaknesses in these competencies and need to work on improving my work behaviours in order to succeed in my career. As an engineer, I have to enhance my analytical thinking behaviour in order to effectively understand a situation, assess different aspects of it, review the implications, and determine causal relationships. With regards to this work behaviour, I have to improve my skills in breaking down problems and pulling together observations in a clear format. Change leadership involves initiating and managing change (Anderson, 2010). I have to work on this behaviour by enhancing my ability to interact with others to identify the need for change and actively support the change process. Organizational awareness is a key work competency that is vital in the decision-making process (Robbins , 2009). Given my weakness in this competency, I have to enhance my ability to understand authority structure and predict situations that can affect stakeholders in the organization. Additionally, I have to enhance my capability to work cooperatively with others in groups of any size towards a common goal and share information freely. I believe Im slightly effective in managing my time. In most cases, I deliver my work in time and rarely do I miss to meet deadlines. I can attribute my success in managing time to three key behaviours: goal setting, prioritizing, and managing distractions. I usually set personal goals to manage my time well as goals give me a vision of what I should work towards. Having established goals, I can manage my resources, priorities, and resources. I prioritize my goals based on importance and the timeframe required to achieve them. Prioritizing goals enables me to focus on the most important tasks that need to be completed before embarking on the rest (Schmidt, 2007). Im also effective in avoiding distractions such as chatting which can prevent me from achieving my goals. However, I also have poor behaviours that affect how I manage my time. I tend to procrastinate which affects my focus. Procrastination influences how I create my schedule. Sometimes, I put off important tasks that should be completed as early as possible. This behaviour has made me fail to complete some of my projects on time. marketing is another poor behaviour that has a negative impact on how I manage my time. Multitasking increases work load, and the result is that most tasks are done poorly and are not delivered on time (Mackenzie, 2009). As a budding engineer, I seek to work for top manufacturing companies such as Toyota where I can get exposed to real-world activities and build my career. Such companies are essential in developing work-specific skills and building an amazing work portfolio that may improve my job reputation as well as my expertise in engineering (Maurer, 2008). In the workplace, I would want to be part of a team involved in process design. Typically, I would want to be involved in the design of objects or items to be manufactured in a company. Based on my technical skills, I believe this position suits me best. The engineering practice requires various skills. STEM (Science, technology, engineering, mathematics) knowledge is essential in solving engineering problems. I need strong analytical skills and ability to work in a team in order to effectively perform tasks assigned (Hwang, 2013). I also need to possess excellent communication skills and be attentive to details which are vital for the succes s of projects (Bell, 2010). I can develop work-specific skills by learning through the job experience as well as furthering my education to gain skills relevant to my career. References Anderson, D. and Anderson, L.A., 2010.Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Bell, S., 2010. Project-based learning for the 21st century: Skills for the future.The Clearing House,83(2), pp.39-43. Deutsch, M., Coleman, P.T. and Marcus, E.C. eds., 2011.The handbook of conflict resolution: Theory and practice. John Wiley Sons. Hwang, B.G. and Ng, W.J., 2013. Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), pp.272-284. Mackenzie, A. and Nickerson, P., 2009.The time trap: The classic book on time management. AMACOM Div American Mgmt Assn. Maurer, T.J., Lippstreu, M. and Judge, T.A., 2008. Structural model of employee involvement in skill development activity: The role of individual differences.Journal of Vocational Behavior,72(3), pp.336-350. Robbins, S.P., 2009.Organizational Behavior, 13/E. Pearson Education India. Schmidt, A.M. and DeShon, R.P., 2007. What to do? The effects of discrepancies, psychology, and time on dynamic goal prioritization.Journal of Applied Psychology,92(4), p.928. Shen, W., Hao, Q., Mak, H., Neelamkavil, J., Xie, H., Dickinson, J., Thomas, R., Pardasani, A. and Xue, H., 2010. Systems integration and collaboration in architecture, engineering, construction, and facilities management: A review.Advanced Engineering Informatics,24(2), pp.196-207. Whitehead, J., 2007, May. Collaboration in software engineering: A roadmap. In2007 Future of Software Engineering(pp. 214-225). business Computer Society.