International Monetary System - 5858 Words

INTERNATIONAL MONETARY SYSTEM MULTULATERAL DEVELOPMENT BANKS Meaning International Monetary System refers to the system prevailing in world foreign exchange markets through which international trade capital movements are financed exchanges rates are determined. MNCs operate in a global market, buying/selling/producing in many different countries. For example, GM sells cars in 150 countries, produces cars in 50 countries, so it has to deal with hundreds of currencies. What are the mechanics of how currency and capital flows internationally? International Monetary System - Institutional framework within which: 1. International payments are made 2. Movements of capital are accommodated 3. Ex-rates are determined An†¦show more content†¦Similarly, the gold exchange standard typically involves the circulation of only coins made of silver or other metals, but where the authorities guarantee a fixed exchange rate with another country that is on the gold standard. This creates a de facto gold standard, in that the value of the silver coins has a fixed external value in terms of gold that is independent of the inherent silver value. Finally, the gold bullion standard is a system in which gold coins do not circulate, but in which the authorities have agreed to sell gold bullion on demand at a fixed price in exchange for the circulating currency. Gold Standard exists when most countries: 1. Use gold coins as the primary medium of exchange. 2. Have a fixed ex-rate between ounce of gold and currency. 3. Allow unrestricted gold flows - gold can be exported/imported freely. 4. Banknotes had to be backed with gold to assure full convertibility to gold. 5. Domestic money stock had to rise and fall with gold flows. Advantages of Gold Standard: 1. Ultimate hedge against inflation. Because of its fixed supply, gold standard creates price level stability, eliminates abuse by central bank/hyperinflation. 2. Automatic adjustment in Balance of Payments due to price-specie-flow mechanism. Disadvantages of Gold Standard: 1. Possible deflationary pressure.Show MoreRelatedInternational Monetary System3533 Words   |  15 PagesInternational monetary systems International monetary systems are sets of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable between buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levelsRead MoreIndia s International Monetary System And Classification Essay2005 Words   |  9 PagesIn this system, each country adopts a certain monetary unit with, more or less, fixed par value, based generally upon its gold content. This par value is made the basis of its exchange rate with other national standard momentary units, and this announced exchange rate remains stable or permanent for some time before it is officially changed. -The Floating Rate of Exchange A country using the floating rate of exchange for its monetary allows its money to be traded in the money market at exchange ratesRead MoreInternational Monetary System5852 Words   |  24 PagesINTERNATIONAL MONETARY SYSTEM MULTULATERAL DEVELOPMENT BANKS Meaning International Monetary System refers to the system prevailing in world foreign exchange markets through which international trade capital movements are financed exchanges rates are determined. MNCs operate in a global market, buying/selling/producing in many different countries. For example, GM sells cars in 150 countries, produces cars in 50 countries, so it has to deal with hundreds of currencies. What are the mechanicsRead MoreGlobalization And The International Monetary System1155 Words   |  5 Pagesglobal institutions and why we need them when globalization exists. We need them because they help regulate the marketplace and promote treaties that help govern business done globally. I learned about the International Monetary Fund, which controls the management of the international monetary system. The United Nations is in charge of security and keeping the peace between all nations. Globalization has lead to technological change that has helped advance our world. The technological change meant lowerRead MoreEvolution of International Monetary System3692 Words   |  15 Pagesthe International Monetary System In response to the worst financial crisis since the 1930s, policy-makers around the globe are providing unprecedented stimulus to support economic recovery and are pursuing a radical set of reforms to build a more resilient financial system. However, even this heavy agenda may not ensure strong, sustainable, and balanced growth over the medium term. We must also consider whether to reform the basic framework that underpins global commerce: the international monetaryRead MoreInternational Monetary System And Its Effects On The Economy1147 Words   |  5 Pagescontinuously. According to the International Monetary Fund, in the four decades between 1970 and 2010, there were no fewer than 145 banking crises, 208 monetary crashes, and 72 sovereign debt crises. This adds up to a total of 425 systemic crises across the world (Lietaer 3). These crises are caused because of the way the world monetary system has been set up. With debt being the basics of the current monetary system many local communities have developed new systems to replace or to help stabilizeRead MoreInternational Monetary System Of The European Economies1164 Words   |  5 Pages ECON310-1603B-08 Instructor: Janet Hunter Unit 4- International Monetary System Amanda Kranning September, 2016 International monetary system Immigration of refugees into other economies has been an issue in the affected countries that play a vital role in the harboring of refugees. It goes without saying that the influx of refugees comes with some standing effects that may influence the financial system of the recipient countries positively or negatively. Having beenRead MoreGlobal Firms And Governance, International Monetary Systems, Forex Markets, And Market Parities1151 Words   |  5 PagesProblem Set 1 (*optional items) Global firms and governance, international monetary systems, forex markets, and market parities. Global firms and governance: 1. How would you define and measure multinational corporations? If the firm is operating facilities in multiple countries or it is controlling real assets in multiple countries then the firm is called MNC. Multinational corporations can be measured by foreign ratios, foreign sales, and foreign employee ratios by how many countries in whichRead MoreThe World Trade Organization Essay1690 Words   |  7 Pagesinstitutions i will be talking about include the World Bank, International Monetary Fund and the World Trade Organisation. These organisations provide loans, grants and practical assistance to governments, in addition to loaning money to assist private businesses within developing countries. They also play a significant role in the privatisation and overseeing of public utilities and natural resources. The World Bank (WB) and the International Monetary Fund (IMF), often called the Bretton Woods InstitutionsRead MoreFinancial Globalisation Is The Cross Boarder Financial Flow Through Global Linkages1336 Words   |  6 Pageseconomists, the nati onal policy making, academic economist, national policy making bodies as well as international Monetary fund (IMF). The International Monetary Fund have influenced the way in which numerous multilateral institutions works in the worldwide economic changes as a result of globalisation. In historic times the Classic Gold Standard (1870-1914) was known as the perfect monetary system that was ever created. During this course, national money and other forms of money such bank notes

Strategies And Innovative Models Of Paypal And Subway †Free Samples

Question: Discuss about the Strategies And Innovative Models Of Paypal And Subway. Answer: Introduction The term strategy is often misinterpreted and misrepresented in the world of business to mean virtually any idea or tactic involved in the relatively peripheral processes of business. Similar is the case with the expression Business Model Innovation, which is nowadays perceived to be some ground-breaking cerebral discovery or invention that was unheard of. However, in reality, innovation is basically the process of updating and modifying the companys business operations in compliance to supply, demand and what strategies the competitors are using. The following report tries to create a comprehensive analysis of the strategies and innovative models of PayPal and Subway, two of the worlds prominent companies who changed the face of their respective fields of business forever. Discussion PayPal:Overview PayPal Holdings Inc. is a US-based money-transfer company which has a global online-payment platform that virtually caters to the entire world. Established in 1998 under the name Confinity, PayPal processes payments for online sellers, e-commerce, auctions via internet and other forms of business, through which it earns its profits (paypal.com 2017). At present, PayPal is functional in 202 countries, with 197 million registered and active user accounts (Neshe 2017). The platform enables its users to transact funds seamlessly across the world with exchange options I twenty-five currencies. PayPal has been chosen in this report for its innovative business strategy, responsible for its meteoric rise. Strategic Analysis Initially in 1998, PayPal, then called Confinity, operated merely as a money-transfer and security-software company, funded by BlueRun Ventures. The company merged with X.com, an online banking organisation in 2000, and X.com was renamed PayPal in 2001, before the company went public in 2002, at $13 a share (Regan 2017). Prior to this, PayPal served just fund-transfers between two Palm Pilots, with people having access to both wallets and PDAs; and this was just a peripheral stream of revenue. But come 2002, all that was to change, owing to PayPals farsighted strategies and enhanced business model. As stated, the first step to making a business successful is to develop a sound business strategy; addressing key issues like identifying the area of business, unique values one can offer, the resources and capabilities at disposal, and the ability to sustain this unique potential. Considering such parameters, expanding the fund-transfer operations across the entire nation was a sensible s trategy for PayPal, given the growing demand for online trading. In July 2002, PayPal was acquired by eBay for an estimated $1.5 billion, valued at about $23 per share, meaning, 77% over the IPO expense (Kane 2017). This is a significant example of Business Model Innovation by PayPal, whereby they addressed their key issue of lower profit rates by restructuring their offerings to target customers and hence, creating an enhanced value proposition for increased revenues (Massa and Tucci 2013). This was a definite win-win situation for PayPal as eBay already had an expansive customer base in the US which was sure to spread globally. Consequently, over 70% of all eBay orders and auctions took payments via PayPal; and went on to become the default payment mode of eBay, used by most customers. In the process, PayPal could successfully lowball their competition in online payments, namely, eBays own Billpoint, PayDirect from Yahoo, BidPay by Western Union, Google Checkpoint and Citibanks c2 it; all of which were shut down in coming years. This is an archetypal example of competitive strategy, where a company identifies its own strengths in correlation to its rivals policies in order to emerge victorious in the modern battlefield of business. The process of Business Model Innovation is a dynamic one and a company needs to keep enhancing and updating its operations in order to thrive in a competitive market. True to this dictum, PayPal kept acquiring smaller companies to expand its field of operations and subsequent revenues. In 2007, it entered a strategic partnership with MasterCard, which incepted the PayPal Secure Card Service which aids customers to use PayPal even on non-compliant platforms with their MasterCard cards (Auchard 2017). By that year, PayPal generated staggering $1.8 billion revenue. Subway: Overview Subway, the trading name of Doctors Associates Inc., is an American chain of fast-food outlets which is known mainly for the sale of submarine sandwiches and salads. It was founded in 1965 when Fred DeLuca opened Petes Super Submarines in Bridgeport, Connecticut, with a capital of just $1000 borrowed from a friend. Today, headquartered in Milford, Subway has about 45,000 outlets in over 100 countries across the world, with half of the stores in the US (subway.com 2017). The reason for including Subway in this report is their usage of tactically sound policies and ever-recurring innovations in the global restaurant market. Strategic Analysis From a strategic point of view, the most prominent aspect of Subways business policy was to understand the concurrent market-trend in the US regarding easily available fast-food. Through psychographic analysis of the food-market, Subway could target young adults, that is, the 16-39 age group as their principal target market. Subway realized that in a fast and hectic lifestyle, people crave fresh and nutritious food as opposed to burgers, pizzas and fries, which were widely prevalent then. Realising their target profile as Demanding People Who Know Their Minds (Lesser et al. 2013), Subway identified their fresh and wholesome food as their unique potential that would give them an edge over competitors; hence their caption : Eat Fresh. Up next lay the more difficult steps of creating a value proposition and the subsequent yield of higher revenues. This needed a foolproof business model that would stand the test of time with recurrent innovations. The major step towards innovation was to not imitate the already successful McDonalds and KFC who, by then, had hefty funds at their disposal. Therefore, Subway utilized this relative financial weakness and emphasized on combo-stores in optimum locations like downtown office areas, near schools and colleges, airports, railway stations and so on, which were easily accessible to people looking for quick, yet nutritious food. Another effective step of innovation was Subways focus on franchise ownerships instead of private proprietary, as the latter was much easier to secure and augmented their global appeal and reach. In 2011, Subway overtook McDonalds as the worlds largest restaurant-chain with 33,749 outlets, compared to the latters 33,737 (Bates 2017). Like any other successful company, Subway does not rest on its laurels and keeps innovating its operations and coming up with new ideas. Subway occupies about 60% of the American fast-food sandwich market, and has a staggering social-media presence with over 25 million fans on Facebook. As of May, 2017, the brand is valued at US$ 7.1 billion (Forbes 2017). References: Auchard, E. 2017. PayPal offers secure way to shop non-PayPal sites.Reuters. [online] Available at: https://www.reuters.com/article/us-ebay-paypal-ecommerce-idUSN1840572920071119 [Accessed 19 Aug. 2017]. Bates, D. 2017. Move over Ronald: Subway officially overtakes McDonald's to become biggest restaurant chain in the WORLD.Daily Mail. [online] Available at: https://www.dailymail.co.uk/news/article-1364037/Subway-overtakes-McDonalds-worlds-biggest-restaurant-chain.html [Accessed 19 Aug. 2017]. Forbes (2017). Subway on the World's Most Valuable Brands.Forbes Magazine. [online] Available at: https://www.forbes.com/companies/subway/ [Accessed 19 Aug. 2017]. Kane, M. 2017. https://www.cnet.com/news/ebay-picks-up-paypal-for-1-5-billion/.cnet.com. [online] Available at: https://www.cnet.com/news/ebay-picks-up-paypal-for-1-5-billion/ [Accessed 19 Aug. 2017]. Lesser, L. I., Kayekjian, K. C., Velasquez, P., Tseng, C. H., Brook, R. H., Cohen, D. A. 2013. Adolescent purchasing behavior at McDonald's and Subway.Journal of Adolescent Health,53(4), 441-445. Massa, L. and Tucci, C.L., 2013. Business model innovation.The Oxford handbook of innovation management,20, p.18. Nsehe, M. 2017. PayPal Extends Payment Services To Nigeria, 9 Other Countries.Forbes Magazine. [online] Available at: https://www.forbes.com/sites/mfonobongnsehe/2014/06/17/paypal-extends-payment-services-to-nigeria-9-other-countries/#70d74e39649b [Accessed 19 Aug. 2017]. Paypal.com. 2017.PayPal About - Home. [online] Available at: https://www.paypal.com/us/webapps/mpp/about [Accessed 19 Aug. 2017]. Regan, K. 2017. PayPal IPO Off to Spectacular Start.Commerce Times. [online] Available at: https://www.ecommercetimes.com/story/16368.html [Accessed 19 Aug. 2017]. subway.com. 2017.Explore Our World. [online] Available at: https://www.subway.com/en-au/exploreourworld [Accessed 19 Aug. 2017].

Fifth Child Essays - The Fifth Child, Family, Abnormality

Fifth Child ?The Fifth Child? In ?The Fifth Child,? Lessing contrasts society's idea of an ?ideal? family to the ?real? dysfunctional family in our everyday lives. Harriet and David's dream was to have the ?ideal? family. They made the mistake of setting standards too high for themselves and putting a front of an ideal family, which was just a cover for the real dysfunctional one. People in society tend to believe that the ideal family is what life is all about. They believe that as long as they can obtain the ideal family, this will bring them happiness. The reality is that this perfect family structure isn't obtainable. Bridget, for instance, comes from a dysfunctional family and goes to stay with Harriet and David's family to get a taste of their ?ideal? family. Even the family realizes that Bridget longs for this feeling of family togetherness. ?Bridget has to be told by you hat she is welcome.? She does not realize that Harriet and David's ideal family is just a picture they painted so others could believe this it is ideal. The picture they painted is of a big house, lots of kids, and big family parties. This doesn't necessarily mean that this is a happy family. David comes from what is thought of as the ideal family. He had everything anyone could ever ask for. Although, his parents were divorced, no one was ever around for him, and he set himself in solitude. ?My room-that was home.? The ?ideal? family that turned out to be the dysfunctional family; is what this is all about. The idea of a perfect family is the dream of a dysfunctional family. Harriet has a strong belief in this also; she and David's dreams create her ideas of the ideal family. Their dreams and wishes are irrational; they are what they want in life. Dorothy describes Harriet as having ?eyes bigger than her stomach.? Harriet wants more than what she can handle. She does not realize that what she wishes for cannot come true. Harriet and David cannot fulfill their fantasies; their idea of an ideal family cannot be created. Families aren't meant to be ideal; they are dysfunctional. All families have problems. This is what life is all about. Life isn't always what you want but what you put into it. Bibliography fifth child novel English Essays

Ida essays

Ida essays Into The World There Came A Soul Called Ida was painted by Ivan Albright. The central figure is Ida. Ida is holding a mirror while sitting in a wicker chair. Idas oval shaped face is framed by gray, wavy, chin length hair, that is parted down the middle. Ids hairstyle reveals a large forehead that has a crease which cuts across the entire width of her forehead. Idas eyes are sunken inward, which exaggerates the crease of her eyebrows. The fleshes under Idas eyes are puffy with layers of wrinkles. Idas cheeks sag as if her cheeks belong on a bloodhound, The bridge of Idas nose is divided by a fold of skin, therefore making Idas nose appear small. Idas lips are thin and closed tight: she has wrinkles on the corner of each side of her mouth. Time has not just taken toll on Idas face but also her body. Idas dressed in a blue flimsy nightgown and a purple wrap that hangs open. The nightgown is cut low, and covers the trunk of her body, but little else. The nightgown cannot hide the rolls of her stomach or the sagginess of her breast. She sits in a worn wicker chair that has legs that are bent outward from holding her weight. Ida has corpulent and dimpled legs that look like the skin of an orange. Her feet protrude out of the top of her high-heeled shoes, and her ankles are camouflaged by the bumpiness of her legs. There is more to Ida than simple physical descriptions, However, I believe Ida was once a wealthy lady, who lost her fortune. There is a great sadness to her, hopelessness hangs in her eyes. Her face has a despairing question of Now what? She sits in her chair and applies powder to herself as if she has done it a thousand times before. Idas face does not reflect any pleasure from putting on the powder, she act as thought it is just a part of her daily routine. Idas dresser is covered in a worn lace runner and ...

According to the question answer the question Essay

According to the question answer the question - Essay Example ducation makes it inappropriate to some people while Foster is of the belief that the current system of education has been able to enable to get students to have a good interpretation of their experiences. The walking journeys of Cheryl strayed in wild and Andrew Forstaffle in the â€Å"this American life† radio episode† hit the road† have some things in common. For instance, in both cases there are people who are compelled by the experiences that they are going through in life to go far places from wherever they were at first. Andrew Forsthoefel decides to go on a journey of over four thousand miles on foot after losing his job. He takes people he meets on the way with him. On the other hand, Cheryl strayed move to many cities in the process of trying to find a new life after the divorce with her former husband. The difference between the two cases is that Cheryl strayed was in search for a new life while Andrew Forsthoefel’s did not seek a new life. The views that Cheryl Strayed and Robert Bly give about the term being wild can be a little bit morally misleading. This is because they all advocate for some behaviours that are simply inappropriate morally. For instance, when someone looks at the kind of lifestyle that Cheryl Strayed leads in the name of being wild such as sleeping with strangers someone can clearly see the immoral part of it. Robert Bly, basically advocates for masculinity where female people are treated with less regard or respects. The two views can basically be said to be misleading in their description of being wild. Looking at the poem by Edward Hirsch someone can easily notice the importance that he gives to the emotional parts of human existence (Addonizio and Laux 242). This can be seen in the line where he asserts on the importance of people believing in their hearts. This can be seen in the first line. The poets urge people to believe in having better lives, even at times when they are going through the hardest parts of their

Background Information Essay Example | Topics and Well Written Essays - 250 words - 1

Background Information - Essay Example ortfolio Strategy group develops a â€Å"Monthly Lead List† which is used by marketing department for the purpose of identification of customers that are part of our portfolio. The list undergoes strict quality checks by an independent Quality Control Analyst, who validates the data by utilizing critical business logic and by using QC results tab for result presentation. The US Bank’s Data Management and Analytics group prepares the Month-end-marketing Metrics, which is also utilized by the marketing department to develop a report that provides guidance regarding marketing sales goals, actual and budgeted costs of marketing, cost per application, cost per lead and the associated variances. Interaction with legal and compliance department for approval of the marketing material that is under development for the purpose of compliance to relevant laws is also carried out by marketing department. During the period before June 1, 2014 approvals for marketing material was only sought from the legal department, but now the marketing department utilizes US Bank’s â€Å"ticket management system† for this purpose. So, now marketing material is approved by compliance department after it has been approved by the legal department. Based on audit, the rating for Marketing review and Portfolio strategy has been labeled â€Å"Effective†. Policy and procedures related to quality control process for marketing lead list have been prepared and released by the Business unit. Whether adequate Quality Control was implemented by the independent analyst or not, could not be ascertained, since supporting documents were insufficient to support the analyst’s position. The team is in the process of implementing control measures which is an indication that they are aware of the prevailing

Mobile Technology and Communication

Mobile Technology and Communication The mobile technology has evolved over time and has seen the world move away from the fixed telephone booths to wireless and more portable devices for communication. One decade ago mobile phones were medium in size and still relied on direct connections to sources of power since there were no portable batteries (Barney, 2005). Today mobile technology has improved; we have very small and portable mobile phones that can be carried in the pockets and small bags. Mobile phones are more powerful and have become part of the human lifestyle and many people prefer to carry them wherever they go. Mobile technology has greatly improved communication in today’s world. Mobile technology has made sending and receiving of information faster than ever before. In today’s world someone who is in a far country can call directly and talk to another who is in another continent within minutes. Today people can receive live news of what has happened all over the world faster than ever before (Barney, 2005). Very large texts can be sent across the world without the use of messengers and can be received by recipients located in different parts of the world. This has made it easier to communicate with these people, improving the time and speed of communication. Because of advances in communication technology, it is now possible for universities to offer long distance courses. All that a student needs is an access to computers, and internet connectivity. Long distance courses or classes are a popular method that universities use for purposes of reaching out on students who are in other countries. Some students also prefer to use long distance classes, because of time factors. Mobile technology has also increased efficiency and reliability in the methods and ways in which business leaders communicate with their employees. Due to the advancement of mobile technology, a business manager can now control his workers whichever place they are (Preston, 2001). It is not a must for the business manager or administrator to go to the location of his or her employee. They can use the mobile phones to request for information they need. Companies with large number of branches are able to give orders to be received immediately by their specific branches with a lot of ease. We can collaborate with co-workers no matter how spread out they may be. Any one who needs confirmation or approval of vital decisions can get them without waiting for the head of the organization to return from a trip in order to make approvals. Mobile technology has made doing business better than before (Barney, 2005). Mobile technology has made communication between the doctors and patients more easy since doctors who are attending to other patients are able to make follow ups on how other patients are doing through mobile phone. This helps them make choices to attend to emergency cases first and make prescriptions for other patients without having to be there in person (Barney, 2005). The local doctor only needs to observe the patient and describe the situation to the expert who in this case might be far away, sometimes even in other countries. All the expert needs to do is to listen and make recommendations and procedures to be followed and finally prescribe the correct medication. Mobile technology has made it so easy for people to communicate with their loved ones even while away(Hackett, 2008). This has reduced loneliness and brought families and friends more close than before. In today’s world you can receive information on everyday basis on what’s happening around the people you love and see pictures and videos of the same. Because of advances in mobile technology, it is now possible to share so much information with family members, friends, and the society. Advances in mobile technology have increased the rate of people who can access internet services. Accessing the internet has also increased the rates of people who are enrolled in social networking sites like twitter. This has improved the relationship that people have towards (Grant and Meadows, 2010). Green (2002) therefore explains that without the development of mobile technology, social networking could not be possible. Mobile technology today has made it possible for government to communicate warnings to its citizens on dangers like conflict arreas, floody areas and outbreak of disease. The bus driver today do not have to bump onto any danger on his way ahead since information spread very fast and thy can be alerted through their mobile phones to avoid such risks. The nation can be aware in one hour of any threats posed to them. The government can achieve greater results since control of diseases is made easy (Bourke, 2004). The whole country can know within seconds that there is a problem and people need to take precautions. Mobile technology has improved communication of security threats by individuals to the authorities since today the policeman is just a call away. Many houses have mobile phones and thy can be able to alert the authorities on the dangers or attacks they are facing or think might affect them. The government can also carry out security operation with ease due to ease of communication (Bourke, 2004). The search for criminals has been made easy since information can reach the police faster. Gone are the days when individuals would suffer silently while being tortured the whole night by gangs waiting for morning to come before the police could know what is happening. This has reduced massacre in villages. Mobile phones have also made it easy for enquiries to be made like cost of goods, balances and bills can be paid by use of mobile phones. People do not need to walk to offices to fine information since this can be done from the comfort of their homes. Payment of these bills can also be done from the comfort of ones home. Today one do not need to travel to the bank to find information about their bank accounts. The bank is able to update individuals on deposits and withdrawals made from their accounts (Barney, 2005). In today’s world, Mobile technology has created convenience in communicating directions by individuals. People do not to loose direction while in strange land or country or city. The mobile phone has become the basic guideline for individuals. When you are lost, you can use mobile phone to locate where you are by use of applications that have maps. The simplest use would be to call the host or call back from where you were given direction in order to ensure you are moving to the right place. Mobile technology has made it so easy for individuals to get feed back faster than ever before. It would take a long time for a horse or a messenger to travel to a far distance in order to deliver a message and come back with a feedback. Today you send information and if there is a delay you just make a call, and the response is there with you. It minimizes time wastage and improves productivity of individuals. It is, therefore, important to conclude that mobile technology is an important innovation in the 20th and the 21st century. This is mainly because it played a great role in ensuring that effective communication between people occurs. This also includes communication between the government and the people, communication between business personalities, etc. Because of effective communication made possible by the emergence of mobile technology, most business institutions are able to achieve efficiency and productivity. Without efficiency in communication, it is possible for an organization to make losses. References: Barney, D. D. (2005). Communication technology. Vancouver: UBC Press. Bourke, J. (2004). Communication technology. Greenwood, WA: Ready-Ed Publications. Grant, A. E., Meadows, J. H. (2010). Communication technology update and fundamentals.  Amsterdam: Focal Press/Elsevier. Green, L. (2002). Communication, technology and society. London: SAGE. Hackett, E. J. (2008). The handbook of science and technology studies (3rd ed.). Cambridge,  Mass.: MIT Press :. Preston, P. (2001). Reshaping communications technology, information and social change.  London: SAGE.