Advantages and Disadvantage Funtonal, Matrix and Dedicated...

ASSIGNMENT – EMPM5103 MAY SEMESTER 2013 EMPM5103 – PRINCIPLES OF PROJECT MANAGEMENT ASSIGNMENT OBJECTIVE: The assignment is intended to provide you the opportunity to evaluate and discuss critically three different principles of project management under the following tasks : Task 1 Task 2 Task 3 Organisation Structure Risk Management Project Planning The details of the tasks are explained below: TASK 1: ORGANISATION STRUCTURE Question Discuss the relative advantages and disadvantages of the functional, matrix, and dedicated team approaches to managing projects. [20 marks] TASK 2: PROJECT RISK MANAGEMENT GiGi Incorporated The rapid growth of the telecommunications industry has made it apparent that executives at GiGi Incorporated†¦show more content†¦Should the probability of defects change if we produce 18,000 units as opposed to 10,000 units? 3 ASSIGNMENT – EMPM5103 c. Would your answer to Question 1 change, if Telo management believes that follow-on contracts will be forthcoming? What would happen if the probability of defects changes to 15 %, 25 %, 40%, 15%, and 5% due to learning-curve efficiencies? [30 marks] [TOTAL: 100 MARKS] Assignment Format: a. b. c. d. Use double space and 12-point of Times New Roman font. The assignment should contain about 3000 – 5000 words (15 – 20 pages) Provide reference using the American Psychological Association (APA) format References should be latest (year 2005 onwards) Notes: †¢ †¢ Assignments should be submitted according to the due date. You are to submit a softcopy of your assignment online through myVLE and a hardcopy to your facilitator. †¢ Plagiarism is not acceptable. If you are not sure what is meant by plagiarism, refer to the various websites which discuss this matter, e.g. owl.english.purdue.edu/handouts.

Presentation Speech Prelude Of The Civil Rights Movement...

Presentation Speech: Slide 1: Prelude to the Civil Rights Movement 1950s First, to see how we have gotten to the point of where society is at today, we need to know where we have come from. We can trace the roots of the civil rights movement back to the late 1940s and 1950s, starting with World War 2. During the war, the military was kept segregated, which kept white supremacy prominent. For example, blacks had separate drafts which limited into what branch they could serve. The Air Corps and Navy were mostly white, and blacks often served as cooks or assistants to officers. Many people from the north that went to the south to army bases were shocked and disturbed by the segregation they saw which resulted in a greater awareness to the cause and many people getting involved. Many poor blacks could greatly improve their station in life through the military, and many did so. After the war, President Truman signed an executive order to desegregate all of the armed forces in 1948. In 1954, many public schools were kept segregated which was made legal through the Plessy versus Ferguson case of 1896, in which they claimed that segregation was constitutional as long as the black and white facilities were equal. But at this time in Topeka, Kansas a black third-grade girl named Linda Brown had to walk more than a mile through a railroad switchyard to get to her school for black children, even though there was an elementary school for white children less than seven blocks away. HerShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesMichael Adas for the American Historical Association TEMPLE UNIVERSITY PRESS PHILADELPHIA Temple University Press 1601 North Broad Street Philadelphia, Pennsylvania 19122 www.temple.edu/tempress Copyright  © 2010 by Temple University All rights reserved Published 2010 Library of Congress Cataloging-in-Publication Data Essays on twentieth century history / edited by Michael Peter Adas for the American Historical Association. p. cm.—(Critical perspectives on the past) Includes bibliographicalRead MoreLibrary Management204752 Words   |  820 PagesStates. 2. Information services— United States—Management. I. Moran, Barbara B. II. Title. Z678.S799 2007 025.1—dc22 2007007922 British Library Cataloguing in Publication Data is available. Copyright  © 2007 by Robert D. Stueart and Barbara B. Moran All rights reserved. No portion of this book may be reproduced, by any process or technique, without the express written consent of the publisher. Library of Congress Catalog Card Number: 2007007922 ISBN: 978–1–59158–408–7 978–1–59158–406–3 (pbk.) First publishedRead MoreSda Manual Essay101191 Words   |  405 PagesFellowship .... At a Duly Called Meeting ......................................................... Majority Vote ........................................................................... Church Board Cannot Remove From Church Fellowship ....... Right of the Member t o Be Heard in Defense .......................... Lawyers Not to Represent Members ........................................ Members Not to Be Removed From Church Membership for Nonattendance ..........................................Read MoreStrategic Marketing Management337596 Words   |  1351 PagesHouse, Jordan Hill, Oxford OX2 8DP 200 Wheeler Road, Burlington, MA 01803 First published 1992 Second edition 1997 Reprinted 1998, 1999, 2001, 2003 Third edition 2005 Copyright  © 1992, 1997, 2005, Richard M.S. Wilson and Colin Gilligan. All rights reserved The right of Richard M.S. Wilson and Colin Gilligan to be identified as the authors of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced in any material form (includingRead MoreMarketing Mistakes and Successes175322 Words   |  702 PagesAptara ®, Inc. and printed and bound by Courier/Westford. The cover was printed by Courier/Westford. This book is printed on acid-free paper. Copyright  © 2009, 2006, 2004, 2001, 1998, 1995, 1992, 1989, 1986, 1981, 1976 John Wiley Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108

Risk and Threat in Business Organization-Free-Samples for Students

Question: Analyze the risks and find the procedure to control the threats in Business Organization. Answer: Introduction The purpose of the report is to analyze the risk management cycle as a guide and describe how the ATA should proceed with each stage of the cycle in order to come up with a sound project risk management plan for this project. The report also describes the stakeholder engagement and management has been described here. The report also analyses project risk plan of working in timor island solar project which is funded by Google. The report precisely states the project risk of the solar project in a new country like Timor island. Finally how risk can be mitigated has been stated in case of ATA project. Discussion The ATA project of solar panel which is being funded by GOOGLE has various risk and to make the project successful it is necessary to analyze the risk management plan and implement it accordingly to make the project feasible and within deadline. It is crucial to take time before the start of the project to analyze the process how stakeholder engagement it will help to ensure community engagement(Tanoto Rohi, 2015). It can not be overlooked that engaging local people of Timor island will help in designing a baseline survey, so in many communities which will be benefited by the solar panels. Interviewing the local people will help in understanding the need of them and how the solar panel will help them to provide electricity to support them for education and work which will certainly improve their livelihood by utilizing the solar panel generated electricity at night time. The baseline survey is important to track the progress of the project and outcomes(Kumara et al., 2017). The tran sportation of the equipments from china or Australia to east timor is also expensive and problematic. It is necessary to co ordinate with the local government in order to import the equipments to Timor and set up the solar panels there(Azid Jokhan, 2013). The project risk can be mitigated by maintaining proper communication with government and quickly resolving the issues faced locally. The government schemes are not robust compared to the companys scheme and this difference is a challenge for the company which will be mitigated with proper communication and coordination between the company and Timor government. Previously the solar panels installed by government were broken down and discharged the batteries quickly by using the solar panels all day for electricity instead of using it in the night time. The major project risk is not being able to incorporate legitimacy in the project because of a foreign company and staffs who are working in Timor. The threat can be controlled by engaging the local people who are beneficiaries of the solar project as a part of the team by collecting survey information from them. Judging by the history of east Timor the inhabitants of the country may find a foreign company inappropriate to work and tell people what to do. This can be solved by seeking help from local organizations who will be instructing their fellow countrymen for the tasks those have to be done by them. As the external organization that comes to the country with the money to do the project, automatically there are power issues at play there. The power issue can be resolved by employing Timorese people and give them authorization to take some decisions. The local organizations have experience of working in sanitation and water projects and they can utilize the resources well. They already knew what kind of things worked really well with committees and managing money. Because this is the other crucial thing in Timor as well, is the concept of communities managing large sums of money, that's quite a new concept and it's also quite high risk. So the local partner organizations who have worked with them previously and with the communities on managing water they knew how the things tended to work efficiently in Timor(Scholes Duffy, 2017). They are also aware about the pitfalls so employing them will reduce the risk from local community dissatisfaction or any decision that can lead to failure of project. The communication barrier is also a major drawback but the local organisation that ATA have on board now, they can just pick up on those nuances, that even if we understood the language directly translated, there's just certain things about the culture and the values that they will be able to understand and pick up on and address those concerns that may not be expressed directly(Dornan Shah, 2016). Employee satisfaction can be ensured by understanding the problems of the Timorese people through the Timorese p eople of partner organization. Timor as being a developing country carries on a tradition of indirect communication which makes it difficult for the foreign companies to get the nuisance. So understanding the problems at local level is important to control the threat. The procurement is somewhat challenging in East Timor as it is impossible to use local suppliers. The local companies can not be supported by ATA in this case. When it comes to the actual materials and equipment that are needed to make these solar systems which are installed on people's homes, ATA actually can't use a Timorese organisation in that case Conclusion It can be concluded from the report that the ATA company can mitigate the project risks by suitable planning and employing local organizations for executing some tasks and employ Timorese people to instruct Timorese staffs working for the company. This will in large scale help the organization to successfully implement the project. The risks are controllable by using proper planning to manage the project. References Azid, S. I., Jokhan, A. (2013). Mapping of organisations involved in energy research activities in the Pacific Island region, their research projects, budgets and research gaps. InClimate-Smart Technologies(pp. 89-96). Springer, Berlin, Heidelberg. Dornan, M., Shah, K. U. (2016). Energy policy, aid, and the development of renewable energy resources in Small Island Developing States.Energy Policy,98, 759-767. Kumara, I. N. S., Ashari, M., Sampeallo, A. S., Pawitra, A. A. G. A. (2017). Simulated Energy Production and Performance Ratio of 5 MW Grid-Connected Photovoltaic under Tropical Savannah Climate in Kupang Timor Island of Indonesia.International Journal of Engineering and Technology,7(2), 117-129. Scholes, C. A., Duffy, B. (2017). Sun, wind and fire: Renewable energy in the Pacific.AQ-Australian Quarterly,88(4), 32. Tanoto, Y., Rohi, D. (2015). Energy and Environment Implications of Long-Term Power Development Involving Renewable Energy: a Case of Timor Island, Indonesia. InApplied Mechanics and Materials(Vol. 815, pp. 444-448). Trans Tech Publications.

Why Puritans Came To America Freedom Essays - Congregationalism

Why Puritans Came to America: Freedom When the English came to America to escape religious persecution, things commenced at a shaky start. For example, Puritans fled from England because of religious persecution. They were being physically beaten because of their religious beliefs therefore they attempted to create a Utopia or "City upon a hill" in the New World. There "City upon a hill" began with a government based on religious beliefs. It developed into a government which condemned those who did not believe in the Puritan beliefs. For example, one had to believe in the Puritan religion and attend church to vote and become a member of the Puritan society. This practice further developed into a situation in which you were beaten or killed if you did not believe in the Puritan religion and remained in Puritan "Utopia" -- the exact situation which they had fled from England. Later, it would take the gathering of American thinkers to deduce what liberties were guaranteed and which were not, to avoid mistakes made by puritans and others in history. The Forefathers of the United States conjured up the Bill of Rights which illustrated which rights were endowed to the people of the United States. They adopted the Bill of rights, which was drafted for political motivations, and it evolved into a document which shelters American people's civil liberties. When the Bill of Rights was adopted, political motivations superceded libertarian views. James Madison claimed that this "nauseous project of amendments" would "kill the opposition[for the ratification of the constitution] everywhere..." In the beginning, the Bill of Rights was first drafted up to appease the Anti-Federalists and coax them into ratifying the constitution. For without the Bill of Rights the constitution may have never been ratified. After its ratification, the Bill of Rights evolved into more realistic terms. The Federalists began to notice the importance of the Bill of Rights as much as the Anti? Federalists had. During the next few years the Bill of Rights began to be accepted by the American people as the essence towards freedom. As it was noticed more and more over the years, the Bill of Rights became the basis for individual rights. It entitled the American people to rights which they had not experienced before such as the freedom of press and speech. In Tennessee's "Monkey Trial" of 1925, John Scope, a science teacher, was convicted for teaching evolution. Only 43 years later would that state law be overturned. This constant evolution of the Bill of Rights has made it what it is today, a document claiming that the American people have certain 'unalienable' rights. In 1868, the 14th Amendment was drafted to insure that peoples rights towards life, liberty, and property would not be deprived by the state governments without due process of law. Here, the most basic rights of the people were secured from the state governments. In Minersville School District vs. Gobits, Lillian Gobitas refused to salute the American flag. She was a devout Jehovah's Witness and was told not to "`Heil Hitler' nor any other creature." This straight-A student was eventually expelled and here father, Walter, took the case to the Supreme Court. In 1940 the Court ruled for Minersville School District, yet this decision was overturned on Flag Day, 1943. Lillian Gobitas, now 67, realized that she was entitled to the freedom to speak and to express herself, or freedom to not speak or not to express herself. The Bill of Rights today is in need of revision;however it still protects civil liberties and is the best declaration for human rights that America has. Only 31 years ago did the Court rule that prayers would not take place in the business of government. In 1971 a defense analyst turned over the Pentagon Papers, which documented a hidden involvement with Vietnam. Nixon claimed that the papers were a "threat to national security." In this case, somebody had to defy the government in order to let the public know what the government was doing. The government today is still not telling the public the rest of the story and shouldn't the public have a right to know what is going on with foreign relations in our government? Only 2 years ago did the Court free Gregory Johnson. He was arrested for burning a flag in 1984. In the first amendment, the right to hold a peaceful assembly should not be prohibited. If burning a flag causes this much controversy should it be noted as a peaceful assembly? Now, 200 years later, does the Bill

Tucker free essay sample

Although the film depicts Tucker as a hero, the facts revealed during the trial and his statements immediately after the trial indicate a more ambiguous character. Keywords: Entrepreneurship, justice, politics, business-government relationship Setting the Stage: Preston Tucker has designed and built â€Å"the car of the future† in 1948, a car featuring seatbelts, safety glass, fuel injection, and other innovations years ahead of their time. Tucker has accused the Big Three auto makers of sabotaging his production plans while he was busy promoting the car and selling stock in his new company. Now Tucker’s company has collapsed and he is on trial for selling stock and dealerships for a car that he never produced. Copppola on Tucker: The Man and His Dream 1 Click to View Scene Description of Events in Segment: The scene begins with Tucker entering the courthouse for his trial. The prosecution presents witnesses who paid for dealerships and auditors who claim Tucker used much of the $26 million he raised for personal expenses. We will write a custom essay sample on Tucker or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Tucker counters that he made only honest business mistakes and that he did, in fact, produce the 50 cars required by the government for use of the war surplus factory he was given. He makes a closing statement to the jury in which he warns that the entrepreneurial spirit is being crushed by bureaucracy and established interests. The jury delivers a verdict of not guilty, and Tucker invites everyone for a ride in his cars. As the people admire the cars, Abe tells him the company is dead and the cars will never be produced. Tucker replies that it makes no difference whether 50 cars or 50 million cars were produced; what matters is the dream. Ethical Concepts and Issues Illustrated: On the surface, the scene may appear to be a simple story of a good entrepreneur opposed by the evil establishment. But a closer look reveals a conflict between dreams and realistic expectations. Did the fact that Tucker had some good design ideas excuse his selling dealerships for a car he lacked the financing to produce? At what point does dreaming become fraud? The continuing controversy over Tucker provides some historical perspective on present corporate scandals and CEO’s whose defense is that they dreamed too big and made honest mistakes. Additional Comments: Tucker was working on plans to produce a sports car in Brazil when he died of an illness six years after his acquittal. Forty-seven of the fifty-one Tucker automobiles produced still exist, each worth about a quarter of a million dollars. The Tucker Automobile Club is an active organization for fans of the man and his cars. Questions for Discussion: 1. Was Tucker ethical to sell dealerships for a car that he lacked the resources to produce? 2. Was Tucker ethical to sell very risky investments to people who could not afford the risk? Would it have made a difference if they understood the risk they were taking? 3. Was Tucker correct when he said the innovative entrepreneurs were being crushed by established bureaucracies? Is that statement true today? Copppola on Tucker: The Man and His Dream 2 4. Should the revelation that Tucker’s chief financial officer had been convicted of embezzlement affect the assessment of Tucker? 5. Does the fact that Tucker produced 50 cars prove that he had a viable plan for an automobile company? 6. Put yourself in the role of (a) the prosecutor, or (b) the defense attorney, or (b) the jury at Tucker’s trial. What would you have said? 7.

IFRS and GAAP Accounting Principles Essay Essays

IFRS and GAAP Accounting Principles Essay Essays IFRS and GAAP Accounting Principles Essay Essay IFRS and GAAP Accounting Principles Essay Essay IFRS is besides referred to as International Financial Reporting Standards. They are set of criterions of accounting developed by International Accounting Standards Board ( IASA ) . They are going the criterions in the Earth to be used for readying of fiscal statements for the public companies. IASB is independent organic structure which sets accounting criterions which is based in London ( McLaughlin. 2009 ) . This organic structure consists of 15 members who are from nine states including United States. IASB started runing in 2001 since it succeeded International Accounting Standards Committee. With despairing Torahs. civilizations. revenue enhancement ordinance and commercialism. single states. overtime have come so as to develop accounting systems of their ain. In United States. Financial Accounting Standard Board ( FASB ) . formed in twelvemonth 1973. was 3rd group which developed the Generally Accepted Accounting Principles ( GAAP ) in U. S. since the formal scene of criterions which started in 1939. FASB is the first group in US which employed independently funded full-time professionals to be independent in accounting profession. Sanctioned officially in 1973 December. by Securities and Exchange Commission ( SEC ) . which was federal regulator. FASB up to now continues puting accounting criterions for U. S ( Subramani. 2009 ) . IASC was formed shortly after FASB had been formed in the same twelvemonth so as to develop accounting criterions which will be internationally accepted. During the early 1970s. economic system of the Earth was at that clip marked by enlargement of the cross-border activities. This clip seemed to be right in sing whether there was a demand to put cosmopolitan accounting criterions to turn to universe which was shriveling ( McLaughlin. 2009 ) . IASC in their attempt of advancing credence of one set criterions of accounting globally. tried to compose certain inclusive criterions. Committee members frequently had hard in accomplishing a common consensus on proper accounting intervention to minutess which were similar or the same ( AICPA. 2010 ) . They identified preferable interventions. but accounting which was different with besides different consequences was every bit good allowed. They considered this as necessary so as to advance the credence of complete set for the universe accounting criterions. If specific criterion was much different from that which was accepted by and large in an single state. that state may non accept all the set criterions. It was better in leting some options in order to convey many states into the mix. International Accounting Standards Board ( IASB ) replaced IASC after it had issued 41accounting criterions to be used internationally in 2001. Since formation of IASB. it has issued around eight IFRS and besides they have modified several international accounting criterions ( IASs ) . In 2000. European Commission provided the international criterions big encouragement as it announced inaugural which required every listed company in the European brotherhood to be utilizing IFRS get downing the twelvemonth 2005. Before compulsory debut for all companies to utilize IFRS. all states in European Community regulated individually their criterions of coverage ( McLaughlin. 2009 ) . The step of utilizing IFRS did non impact the non-listed companies in Europe. European ministers’ council approved IFRS in 2002. At the start of 2005 ; approximate of 7000 companies effected the alteration. Around 6500 of these companies had been prior describing GAAP in their ain state. with about 3000 of them in UK entirely ( Ernst A ; Young. 2009 ) . EU nevertheless. neer endorsed three paragraphs in IAS 39. and these were criterions which deal with measurings and acknowledgment of the fiscal instruments. Volatility potency of the net incomes which was related to such paragraphs’ accounting macro hedge every bit good as option of just value made the standard compositors to travel back in the pulling board several times. but there was no visual aspect of silver slugs. Up to now. EU has non to the full endorsed set of the IFRS which was promulgated by IASB ( Jermakowicz. A ; Epstein. 2008 ) . Failure of EU to to the full back these set of international criterions is important issues to several grounds. non the few which is demand in the IAS1. fiscal statement presentation that is explicitly stated by a company that their fiscal statements are following with the IFRS ( McLaughlin. 2009 ) . Companies are farther non allowed to province their fiscal statements as following with IFRS if it does non to the full follow with whole organic structure of the IFRS. The accounting criterions so as to derive universe broad credence. there is a demand for them to be universally applied. It is necessary to hold comparison. Fiscal statement set prepared utilizing GAAP of state A is non comparable all of a sudden to another which is prepared utilizing GAAP of state B since both of them on the top provinces IFRS ( AICPA. 2010 ) . United States cardinal regulator precedence is the consistent application of these criterions. If to be conformity with the IFRS means the similar and same minutess have to be accounted in same manner in every state. so fixing fiscal statements harmonizing to IFRS will hold to add value. Investors will no longer blow their attempt and clip in accommodating fiscal information when comparing to companies which are similar but in different states ( Subramani. 2009 ) . Capital will so flux expeditiously and at a low cost to companies in many topographic points. Another major encouragement for credence of the IFRS was seen in 2002as the Norwalk Agreement was being signed and was reaffirmed in the Memorandum of Understanding in 2006. IASB in the London together with FASB in the Norwalk agreed to take the differences in their standard sets and converge it on high-quality criterions ( Ernst A ; Young. 2009 ) . The accent was on high-quality and this meant that if the FASB criterions or IASB criterion was deemed to be better. so the convergence was would be on the superior 1. If neither of them had sufficient criterions which would measure up to be used internationally. so the two boards would jointly work together to bring forth new criterions. Work is on advancement in developing a conceptual individual model which will steer in puting future criterions. Convergence between U. S GAAP and IFRS do non intend accounting criterions should go indistinguishable. It means that in the instances where the minutess are similar or the same. so the accounting should be merely the same. or if non so. the revelations should be crystalline to enable reader understand about the differences ( Subramani. 2009 ) . Besides the criterion compositors are seting more attempt to cut down the difference which is in the two systems. Three important differences between IFRS and GAAP. The difference between the two set of criterions include the undermentioned: in the US GAAP in the income statement. extraordinary points is restricted to some points which are both infrequent and unusual ( McLaughlin. 2009 ) . Negative good will normally is treated as an extraordinary point. In the IFRS. income statement normally prohibits extraordinary points. In the US GAAP the important points in the income statement are presented individually at the face of income statement merely as constituent of operation traveling on. where as in the IFRS important points in the income statement separate the revelation of nature and besides the sum required. but it can be included in income statement or notes ( Ernst A ; Young. 2009 ) . Changes in the equity in U. S PAAF are present in all the alterations in every caption of the stockholders’ equity either in separate statement or foot note. Equity alterations in IRFS at least. nowadayss constituents which are related to write off and income recognized as subdivision of separate statement ( AICPA. 2010 ) . Other equity alterations are disclosed either in notes or presented as a portion of one. combined statement in all equity alterations. Three similarities between IFRS and GAAP. In both accounting criterions. exchange losingss and additions on the settled points and besides on the pecuniary points which are unsettled should be taken to loss or net income for that period. When loss or addition on non-monetary points is straight recognized in equity. so that loss or addition is farther taken to the equity ( Ernst A ; Young. 2009 ) . On the other manus if losingss or additions on non-monetary point are taken in loss or net income. so related constituent of exchange would farther be included in loss or net income. Functional currency should be currency of primary economic system in environment the concern is runing. The other currencies should be treated or termed as foreign currencies. Presentation of currencies should be currencies used in showing fiscal statement and is normally affair of one’s pick ( AICPA. 2010 ) . Fiscal statements should be prepared by the functional currency of the entity but may be presented by any other signifier of currency. Individual minutess should be translated at rate on day of the month of dealing. or at any mean rate for period if the rates do non significantly fluctuate. Identify three possible hazards of IFRS and GAAP convergence. There are several hazards which may impact companies as a consequence of the convergence. They include that ; the convergence may put on the line revenue enhancement rate and therefore doing it non to be effectual to some companies. it may besides put on the line the long term fiscal understandings and contracts. and it may besides put on the line timing of the gross acknowledgment ( Ernst A ; Young. 2009 ) .

Economic Globalisation Is the Main Reason for an Increased Income Essay

Economic Globalisation Is the Main Reason for an Increased Income Inequality in the World Economy - Essay Example Such theories have been explored and looked for insights if the international trade liberalization and economic globalization truly allocates the resources efficiently amongst the countries. Economic Globalization Globalization is broadly defined as the integration of technological, cultural, political, social and economical aspects between the nations throughout the world (Hamilton, 2008, p.10). The term is also used synonymously with economic globalization that involves investments and trades between two countries. This, however, has impact on every aspect of the society. The proponents of globalization view the globalization as means of economic development and improved standard of living. Trade assists in the creation of a nation’s wealth and healthy political relations with other nations. It also promotes competition and free trade between the corporations which in turn provide cheaper and diverse range of goods and services to consumers around the world. These benefits c an be measured in a number of ways such as comparison of relative output and external trade between countries, price convergence for homogeneous or identical goods and services in different economies, comparison of national direct investment with the foreign direct investment and the size of total foreign assets and liabilities. However, globalization has also been subject to criticism for the mere fact that while the market integration for capital, goods and services has occurred, the labour markets around the world are barely integrated. It is observed that all the factors of production technology, plants, and capital except land can be shifted between the countries but it is the labour that globalizes at a very slow pace (Reich, 1991 cited in Dehesa, 2006, p.7). Labour mobility between the developing and developed countries has slowed down over the years and this has led to diverged per capita income across countries. This shows that migration surely does not contribute towards t he income equality. Anti-globalization sentiments stress the perils of globalization in the form of contributions towards poverty in already poor nations and environmental degradation. Another argument against globalized economy has stemmed from biased development of North (developed countries of Northern hemisphere) as compared to the South (developing and under-developed countries in Southern hemisphere). Through the establishment of GATT and WTO, the removal of economic disparity through trade flow between these two hemispheres has been unsuccessfully tried. However, there are many factors as to why such objective could not be accomplished. One of them could possibly be the anti-globalization sentiment of rich countries in North while the perception of globalization as positive force in the South countries (Bhagwati, 2007, p.8). Income Inequality and Unemployment Income inequality refers to the unequal income distribution across the population, genders and races. There are many f actors that cause income inequality such as work experience, productivity, gender, race, inheritance