Amerigo Vespucci, Italian Explorer and Cartographer

Amerigo Vespucci (March 9, 1454–February 22, 1512) was an Italian explorer and cartographer. In the early 16th century, he showed that the New World was not part of Asia but was, in fact, its own distinct area. The Americas take their name from the Latin form of Amerigo. Fast Facts: Amerigo Vespucci Known For: Vespuccis expeditions led him to the realization that the New World was distinct from Asia; the Americas were named after him.Born: March 9, 1454 in Florence, ItalyParents: Ser Nastagio Vespucci and Lisabetta MiniDied: February 22, 1512 in Seville, SpainSpouse: Maria Cerezo Early Life Amerigo Vespucci was born on March 9, 1454, to a prominent family in Florence, Italy. As a young man, he read widely and collected books and maps. He eventually began working for local bankers and was sent to Spain in 1492 to look after his employers business interests. While he was in Spain, Vespucci had the chance to meet Christopher Columbus, who had just returned from his voyage to America; the meeting increased Vespuccis interest in taking a journey across the Atlantic. He soon began working on ships, and he went on his first expedition in 1497. The Spanish ships passed through the West Indies, reached South America, and returned to Spain the following year. In 1499, Vespucci went on his second voyage, this time as an official navigator. The expedition reached the mouth of the Amazon River and explored the coast of South America. Vespucci was able to calculate how far west he had traveled by observing the conjunction of Mars and the Moon. The New World On his third voyage in 1501, Vespucci sailed under the Portuguese flag. After leaving Lisbon, it took Vespucci 64 days to cross the Atlantic Ocean due to light winds. His ships followed the South American coast to within 400 miles of the southern tip, Tierra del Fuego. Along the way, the Portuguese sailors in charge of the voyage asked Vespucci to take over as commander. While he was on this expedition, Vespucci wrote two letters to a friend in Europe. He described his travels and was the first to identify the New World of North and South America as a separate landmass from Asia. (Christopher Columbus mistakenly believed he had reached Asia.) In one letter, dated March (or April) 1503, Vespucci described the diversity of life on the new continent: We knew that land to be a continent, and not an island, from its long beaches extending without trending round, the infinite number of inhabitants, the numerous tribes and peoples, the numerous kinds of wild animals unknown in our country, and many others never seen before by us, touching which it would take long to make reference. In his writings, Vespucci also described the culture of the indigenous people, focusing on their diet, religion, and—what made these letters very popular—their sexual, marriage, and childbirth practices. The letters were published in many languages and were distributed across Europe (they sold much better than Columbuss own diaries). Vespuccis descriptions of the natives were vivid and frank: They are people gentle and tractable, and all of both sexes go naked, not covering any part of their bodies, just as they came from their mothers’ wombs, and so they go until their deaths...They are of a free and good-looking expression of countenance, which they themselves destroy by boring the nostrils and lips, the nose and ears...They stop up these perforations with blue stones, bits of marble, of crystal, or very fine alabaster, also with very white bones and other things. Vespucci also described the richness of the land, and hinted that the region could be easily exploited for its valuable raw materials, including gold and pearls: The land is very fertile, abounding in many hills and valleys, and in large rivers, and is irrigated by very refreshing springs. It is covered with extensive and dense forests...No kind of metal has been found except gold, in which the country abounds, though we have brought none back in this our first navigation. The natives, however, assured us that there was an immense quantity of gold underground, and nothing was to be had from them for a price. Pearls abound, as I wrote to you. Scholars are not certain whether or not Vespucci participated in a fourth voyage to the Americas in 1503. If he did, there is little record of it, and we can assume the expedition was not very successful. Nevertheless, Vespucci did assist in the planning of other voyages to the New World. European colonization of this region accelerated in the years after Vespuccis voyages, resulting in settlements in Mexico, the West Indies, and South America. The Italian explorers work played an important role in helping colonizers navigate the territory. Death Vespucci was named pilot-major of Spain in 1508. He was proud of this accomplishment, writing that I was more skillful than all the shipmates of the whole world. Vespucci contracted malaria and died in Spain in 1512 at the age of 57. Legacy The German clergyman-scholar Martin Waldseemà ¼ller liked to make up names. He even created his own last name by combining the words for wood, lake, and mill. Waldseemà ¼ller was working on a contemporary world map in 1507, based on the Greek geography of Ptolemy, and he had read of Vespuccis travels and knew that the New World was indeed two continents. In honor of Vespuccis discovery of this portion of the world, Waldseemà ¼ller printed a wood block map (called Carta Mariana) with the name America spread across the southern continent of the New World. Waldseemà ¼ller sold 1,000 copies of the map across Europe. Within a few years, Waldseemà ¼ller had changed his mind about the name for the New World—but it was too late. The name America had stuck. Gerardus Mercators world map of 1538 was the first to include North America and South America. Vespuccis legacy lives on through the continents named in his honor. Sources Fernà ¡ndez-Armesto Felipe. Amerigo: the Man Who Gave His Name to America. Random House, 2008.Vespucci, Amerigo. â€Å"The Letters of Amerigo Vespucci.† Early Americas Digital Archive (EADA).

Independent learning Free Essay Example, 1250 words

They are normally expected to allocate a certain amount of time to studying (Candy, 1991). Time management is not only a requirement in self directed learning, it is also very important in the modern business world and in the private lives of individuals as well (Trait and Knight, 1996). Time management skills that individuals learn from their independent learning may come in handy in their places of work. In today’s business environment, time is equated to money and any second wasted is like wasting money. Proper time management is therefore vital aspect of any successful business (Quality Improvement Agency, 2008). A person with time management skills has a lot to contribute to an organization than one who has no time consciousness. Independent learning also enables people to develop self independence. When individuals have to learn by themselves, they normally do not have external assistance or someone they can rely on for help (Quality Improvement Agency, 2008). This makes them develop independence as they have to formulate their own learning strategies and determine their own learning outcomes. In other words, people who go through independent study have a level of self reliability which may come in handy in their places of work (Malta, Dimeo and Carey, 2010). We will write a custom essay sample on Independent learning or any topic specifically for you Only $17.96 $11.86/pageorder now The business world needs people who are reliable and to be reliable one has to have some level of self independence. Reliable people can be relied on to execute business operations without having to rely on external assistance. Apart from autonomy, independent learning also emphasizes on confidence and reflection. Through reflection learners are bale to think about the best learning strategies that may work for them (Trait and Knight, 1996). Reflection enables individuals to develop deep thinking capacities which are essential in the modern business environment. Reflection is what enables people to come up with innovative ideas which can be transformed into ground breaking innovations for organizations. Confidence in the workplace is also important as it enables individuals to work fearlessly in their endeavors to make their organizations successful (Beitler and Mitlacher, 2007). Independent learning also creates responsible members of society who are empowered to tackle any challenges that may come their way, at work or even in their private lives. One important aspect of independent or self-directed learning is the fact that it is an instrumental kind of learning (Malta, Dimeo and Carey, 2010).

Analysis Of Girl With A Pearl Earring - 1433 Words

What is workmanship? Craftsmanship is from the Latin root and stands for the expression or utilization of inventive ability and creative energy, regularly in a visual frame, for example, painting or model. Creation of work to be acknowledged principally for their excellence or enthusiastic power. When painting, there are numerous approaches to do as such. There is the system of doing oil works of art. There are numerous well known compositions still today that are produced using oil paint. For instance, the Mona Lisa is an extremely surely understood painting. Another sketch is called Girl with a Pearl Earring, which was made one-hundred years after the Mona Lisa. [These two-acclaimed works of art are very similar, while as yet having†¦show more content†¦It is 77cm high by 53cm length insightful. When taking a gander at workmanship history, the High Renaissance was a period meaning the apex of the visual expressions in the Italian Renaissance. The vast majority concur that the High Renaissance started in the 1490 s, with Leonardo s The Last Supper and finished in 1527 with the sacking of Rome by the troops of King of France, Charles V. The High Renaissance time frame was a period of exceptional creative generation in Italy having the best-known cases of Italian Renaissance painting got from the three surely understood Italian specialists, for example, Leonardo da Vinci, Michelangelo, and Raphael. These three were celebrated amid the High Renaissance and went ahead to be through every single diverse age. While the artistic creation of Girl with a Pearl Earring is noted to be from the Dutch Baroque time, measuring stature of 44.5cm by width of 39cm. This period is a period in Dutch history in which it crossed the seventeenth century utilizing an imaginative style that utilized misrepresented movement and clear, effortlessly deciphered detail to create show, pressure, extravagance, and glory in a bit of work, for example, this artwork. Amid this time, cr aftsmen could uninhibitedly pick their topic and how they needed to express it, bringing about craftsman making new workmanship styles and systems. Vermeer was a craftsman who strived to draw out theShow MoreRelatedAnalysis Of The Girl With The Pearl Earring 1377 Words   |  6 Pageswarrior has a vision of a better world and never stop fighting for it. Artists and warriors may seem different, but they have more in common than we imagine. An artist is programmed to look at things in different and new ways. In The Girl with the Pearl Earring, Johannes Vermeer the famed artist, asks Griet his young maid to look up at the sky. He asks her â€Å"What color do you see?† She without really thinking about it says â€Å"blue.† Then he doesn’t say anything, while she goes on to tell him all theRead MoreThe Complex Layers Of An Artist1533 Words   |  7 Pagesthe same artistic goals produce works with stylistic differences. Baroque style art was also subject to these geographical differences influencing the vision of the artist. Understanding the complex layers of an artistic movement requires one to analysis works of art and how they compare to other pieces produced during the same time. By taking two works with the same subject matter, one can effectively dissect the influences that time and place have had on the artist’s execution. In 1530 GermanyRead MoreMarie Antoinette s Influence On Fran ce2025 Words   |  9 Pagesexpensive luxuries and even started to gamble. These actions later led to the French being even more upset with her. Finally, to the citizens’ demand, Marie Antoinette and Louis XVI gave birth to their first child in December 1778. Their first child was a girl and they later had three other children together. Unfortunately, not all of their children survived. One child had died within a year and another was extremely sick. As the years went by, France was rising in debt. One of the main causes of the debtRead MoreNon Profit Analysis Essay7109 Words   |  29 PagesNon-Profit Analysis Project Liberty University Penny LeBaron Busi 602 Carlson Hurst Part 1: Christian World View According to Del Tackett’s article on the Focus on the Family website, a person with a Biblical world view â€Å"believes his primary reason for existence is to love and serve God† (Tackett, 2012). Barna Research Group asks the following questions to determine if a person has a Biblical worldview: â€Å"Do absolute moral truths exist? Is absolute truth defined by the Bible? 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Compare the three levels of analysis in this book’s OB model. MyManagementLab Access a host of interactive learning aids to help strengthen your understanding of the chapter concepts at www.mymanagementlab.com cott Nicholson sits alone in his parents’ house in suburban Boston

`` Bloodchild `` By Octavia Butler - 834 Words

â€Å"Bloodchild† is a story that pushes the limits of humankind, creating blurry interpretations of good and evil that challenges everyday societal norms. Octavia Butler takes a traditional action-filled story and twists it into an unexpected and intensified tale. Through this heightened piece of work, the most compelling argument can be found from the structure of the narrative itself. From the first-person narrative, readers are able to receive first hand perspective in which no omniscience of any sort can be detected. Readers can acquire the character’s actions, thoughts, and interpretation of the things that happen to them. â€Å"Bloodchild† is a story of an alien planet where the Terrans are enslaved by an alien race called the Tlic. Gan, the protagonist, has been promised as a host for the alien embryos in which the story will later reveal a deeper meaning underlining the sacrifice. The story introduces itself with the line, â€Å"My last night of childho od began with a visit home† (3). Readers are placed into a scene with no real beginning or proper introduction but instead confuse our conception of time and space through this sudden opening of science fiction. Butler’s reduction of humans into a commodity is essential to note because it may suggest that the relationship between the Terrans and Tlic is an enslaved and forced one. However, because of her bloodbath and gory language style that she utilizes, may lead viewers into interpreting this story about slavery andShow MoreRelatedGender Roles In Society In Bloodchild By Octavia Butler1087 Words   |  5 PagesOctavia Butlers short story â€Å"Bloodchild,† reinvents normative ideas of gender, power, and reproduction to demonstrate the discrepancies created by the aforementioned constructed ideals in society, both fictional and otherwise. Through the idea of embracing one’s differences Butler also builds the notion that the â€Å"Other,† in the s hort story is not simple because she assigns humanity to both the Tlics and Terrans creating a gray area for who is viewed as â€Å"Other,† which tells us that Butler’s ideaRead MoreAnalysis Of Octavia Butler s Science Fiction Classic1285 Words   |  6 Pages â€Å"Bloodchild† Analysis Octavia Butler’s science fiction classic â€Å"Bloodchild† is the coming of age story told from the point of view of Gan. The story takes place on an alien planet the very night that Gan becomes a man. One might expect a highly masculine, ritualistic ceremony or event, but Butler turns the tables. In order to become a man Gan must be impregnated by an insectoid like alien named T’Gatoi. Cages have often been symbolic in literature as a means of subjugation, the cages in â€Å"Bloodchild†Read MoreAnalysis of Octavia Butlers Bloodchild Essay1552 Words   |  7 PagesShould Octavia E. 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In her afterword, she describes â€Å"Bloodchild† as â€Å"a love story between two very different beings,† â€Å"a coming of age story† and a â€Å"pregnant man story.†(Hardy) However, when one comparing Butler’s â€Å"Bloodchild† to Simone De Beauvoir’s essay â€Å"The second sex†, similarities surroundingRead MoreOctavia Butler Essay3243 Words   |  13 Pages Table of Contents Page 1. A BRIEF CONVERSATION WITH OCTAVIA E. BUTLER Page 2 - 4. Biography Page 5 - 9. Synopsis Page 9 - 14. Analysis of Criticism Page 14 – 15. Influences on Society Page 16. Footnotes Page 17. Bibliography A BRIEF CONVERSATION WITH OCTAVIA E. BUTLER 1. Who is Octavia E. Butler? Where is she headed? Where has she been? Who am I? Im a 51-year-old writer who can remember being a 10-year-oldRead MoreOctavia Butler : A Literary Award1275 Words   |  6 PagesOctavia Butler is one of only a few African-American science fiction writers, and the only African-American woman to earn popular and critical acclaim predominantly in the genre of science fiction. Her writing has earned science fictions top literary honors, including the Nebula Award, the Hugo Award, and the Locus Award. Octavia Butler was born on June 22, 1947 in Pasadena, California. Her young adulthood was an amalgam of misery and motivation; she supported her family by working as a domesticRead MoreAfrican American And American Writing1591 Words   |  7 Pages there have been numerous trailblazers of African American writing through the years. My most loved of all has been presented late this semester, Octavia. E. Butler. Best known as the creator of the Patternist arrangement of sci-fi books, which includes a general public whose occupants have created clairvoyant controls more than a few centuries, Butler investigates topics that have been given just quick treatment in the class, including sexual character and racial clash. Olivia’s champions are darkRead More Bloodchild: Oppression in Science Fiction Essay1404 Words   |  6 PagesBloodchild: Oppression in Science Fiction Throughout American literary history, nearly every form of literature has covered the topic of slavery and black oppression in America. From William Lloyd Garrison’s abolitionist papers to Harriet Beecher Stowe’s controversial Uncle Tom’s Cabin to Alice Walker’s The Color Purple, the exploration of the black position in America has been a theme that engrossed generations. 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In her time of life she faced many issues that she reflects on in her writing, like racism, and misogyny. This story is a societal satire about a young boy who struggles to understand his role in life while coming of age. Bloodchild is a story that subtly outlines gender roles, possibly those of her time

1920 Baseball Free Essays

How the 1920s Forever Changed Baseball It should come as no surprise to a majority of Americans that baseball is considered America’s national past time. In fact, for many people baseball has always been an enormous part of every day life. People are exposed to baseball through multiple mediums such as television, newspapers, and even the radio. We will write a custom essay sample on 1920 Baseball or any similar topic only for you Order Now When did this obsession start for the citizens of America? The 1920s is known as the Golden Age of Sports. While many sports started to emerge during this decade, baseball was already established in 1875 and rapidly gaining popularity. Multiple factors affected the way that baseball changed during the 1920s. Due to its increased popularity of baseball and certain aspects of the game, the 1920s created what is known as modern day baseball. Previous to 1910 a rubber-centered ball was used, which had â€Å"less resiliency than the modern cork-centered baseball. † When baseball switched to the cork-centered ball in 1910, â€Å"batting averages shot upward phenomenally, but the managers continued long afterwards to employ the ‘scientific’ strategy† (Mandell 131). Before the cork-centered ball, the game was dominated by extraordinary pitchers and batters who had difficulties hitting (Mandell 130). Walter Johnson was considered the decade’s best pitcher and totaled 3,497 strikeouts and 113 shut outs in his career (Mandell 130). Once the ball was changed the game became more interesting by having the game now balanced between the offense and defense. This made it possible for listeners to be entertained listening to a ball game instead of constantly having to go to watch the game. During this decade and the decade before, mass production made the radio a staple in most households in the United States. The wide scale production made radios much more affordable for common families. â€Å"By 1925, 40 percent of workers in the United States earned at least $2000 annually †¦ and many enjoyed shortened workweeks, which gave them increased leisure time† (â€Å"The 1920s: Sports: Overview† 1). With the excess money that the workers now possessed, they would go out and buy, â€Å"among other items, automobiles, radios, and tickets to movies and athletic events† ((â€Å"The 1920s: Sports: Overview† 1). Swarms of people were going to stadiums to watch their favorite team compete. More people went to baseball games, more people followed baseball, and more people played baseball for fun than any other sport† (â€Å"The Golden Age of Sports† 1). No other sport was as prominent as baseball was during the 1920s. A major draw to baseball was that it was a new form of theater. â€Å"The sheer drama of baseball was yet another attraction. Baseball had a cast of well-defined heroes and villains, familiar plots, comedy, and the unexpected† (Rader 129). Baseball proved to be able to produce larger-than-life characters, or the â€Å"heroes,† time after time. To name a few there was, most notably, Babe, Wahoo Sam, and Bugs. In every game, the umpire served the purpose of the villain (Rader 129). While people in the 1920s might not have had the financial excess to spend money on seeing a Broadway play or other large-scale theater productions, baseball games had the same attraction for a lesser price. While many well-to-do people did attend baseball games, â€Å"†¦ every mother’s son from banker to bum is eligible for membership in the Benevolent Brotherhood of Baseball Bugs† (â€Å"The National Pastime in the 1920s: The Rise of the Baseball Fan† 1). Everyone was welcome to play participate in baseball, whether it be as a spectator or player. At this time baseball was not just for one race either. People of all races and backgrounds played baseball. For example, in 1920 Andrew â€Å"Rube† Foster founded the Negro National League, NNL, so that when baseball was finally integrated the black and Hispanic players of the time would be ready for the challenge (Heaphy 39). Even men that did not come from well-respected upbringings were immediately accepted into the world of baseball. George Herman Ruth Jr. , more commonly known as Babe Ruth, was the prime example of how accepting baseball was. Babe grew up in Baltimore, Maryland and said, â€Å"†¦ he became a ‘bad kid,’ who smoked, chewed tobacco, and engaged in petty thievery. † When Babe turned seven â€Å"his parents sent him to the St. Mary’s Industrial Home for Boys, and institution †¦ for †¦ delinquents. † (Rader 178). After twelve years in the home and building his baseball reputation, Babe was drafted to the Baltimore Orioles and the Boston Red Sox (Rader 178). Babe wrote in an autobiography, â€Å"The greatest thing about this country is the wonderful fact that it doesn’t matter which side of the tracks you were born on, or whether you’re homeless or homely or friendless. The chance is still there† (Rader 178). All people of different races and upbringings were brought together through baseball, as spectators and players, although the sport would not be integrated until 1947. The popularity of baseball greatly affected the way that the sport would change. Without the demand of the spectators, certain changes would not have been made to the game. The most marked feature of the new sporting landscape was the ascendancy of ‘big-time’ spectator sports, that is, sports that were attracted and were designed for mass audiences† (Rader 173). Baseball changed from a player-centered sport to a spectator-centered sport. In American Sports it says that: After 1920 the fans virtually dictated the character of Ame rican sport history. Even the ethos and structure of ‘amateur’ sports like Little League Baseball and high school football resembled their professional counterparts more than the player-centered sports of an earlier era. In principle, if not in practice, amateur sports had been for the pleasure and benefit of the players; in short, the athletes ‘played. ’ But with the ascendancy of the spectators, the athletes ‘played’ for the fans; sports then became a form of ‘work. ’ (Rader 173) Baseball eventually became a consumer run industry. Magnificent stadiums were beginning to be built during the 1920s, beginning with Yankee Stadium in 1923 (Rader 128). â€Å"The massive baseball parks, built of concrete and steel, bore mute testimony to the values Americans place upon baseball. The fans saw the parks as more than a place for commercial amusement, the stadiums were also a â€Å"king of civic, religious sanctuary representing and entire community† (Rader 128). Judging solely on the change of the stadiums from rustic to urban, it’s clear that America was changing baseball into a larger-than-life, commercialized industry. Before Babe, fans were loyal to ce rtain teams, but Babe changed the face of baseball, making the fans more player-loyal. Apart from the enormous increase in the popularity of baseball during the 1920s, Babe Ruth was extremely influential in how the game is now. Paul Gallico, a sports-writer, said, â€Å"In times past we had been interested in and excited by prize fighters and baseball players, but we have never been so individually involved or joined in such a mass outpouring of affection as we did for Ruth† (Rader 179). Not only did Babe change the focus of the spectators to the individual players from the team, he set a new standard in the amount that players should expect to be paid. Christy Walsh became Babe’s literary agent and â€Å"†¦ as Ruth’s ‘literary agent’ he increased Ruth’s writing income from $500 to $15000 in the first year† (Rader 181). Most players made less than $10000 a year playing professional baseball. By the time Babe was at his highest point, he was making close to $3 million from playing and outside endeavors relating to baseball (Rader 181). Other than the amount that he was paid and how America idolized him, Babe Ruth undoubtedly changed the history of baseball forever by making the homerun a common feature of the game. Before Babe, homeruns were not common, especially out-of-the-park homeruns. Outfielders played very shallow, which caused inside-the-park homeruns more frequently than seen today (Rader131). Babe Ruth shattered that normality by hitting out-of-the-park homeruns like no one had ever seen before. Baseball was forever influenced by the skill, idolization, and salary of Babe Ruth. There is no denying that baseball has long been considered America’s pastime, but it was not always like that. The game grew immensely in the 1920s and morphed into the baseball that is around today. One distinguishing and very important quality of baseball was the (however much the game did, indeed, resemble games played in many places for millennia) it was believed to be historically and exclusively American† (Mandell 180). Growing up with parents that were actively involved in athletics throughout their adolescent life, sports were an enormous part of my and my brothers’ lives. Starting a t age six I began playing tee-ball and from there moved onto softball, while my brothers did the same, except moved onto Little League. The popularity of professional baseball was evident even in tee-ball and Little League by having the teams named after the professional teams. It is obvious that the popularity in the 1920s continue into modern day baseball, not only by the growing number of fans, but almost how professional baseball has affected the amateur level of baseball. Work Cited Heaphy, Leslie A. The Negro Leagues 1869-1960. 1st . Jefferson: McFarlandCompany Inc. , Publishers, 2003. Print. Mandell, Richard D. Sports A Cultural History. 1st . New York: Columbia University Press, 1984. Print. Rader, Benjamin G. American Sports. 1st . Englewood Cliffs: Prentice-Hall, 1983. Print. Sumner, Jim. â€Å"The Golden Age of Sports. † North Carolina Museum of History. American Social History Products, Inc. , n. d. Web. http://www. ncmuseumofhistory. org/collateral/articles/s04. golden. age. sports. pdf. â€Å"The 1920s: Sports: Overview. † American Decades. 2001. Encyclopedia. com. 4 Dec. 2012 http://www. encyclopedia. com. . â€Å"The National Pastime in the 1920s: The Rise of the Baseball Fan. † History Matters. American Social History Products, Inc.. Web. http://historymatters. gmu. edu/d/5087/. How to cite 1920 Baseball, Essay examples

Importance of ERP Systems in Business-Free-Samples for Student

Question: Discuss about the Importance of ERP Systems in Business. Answer: Introduction Any type of business needs to have different departments for maintaining the various functions that goes in a business. It is impossible to perform all the business functionalities for a single person or department. For example, a finance department is required that handles all the financial transactions that is performed within the organisation. An IT team can be needed that will be responsible for the development and maintenance of all the technologies that are required for the business operations (Weibach 2013). A grievance management team or more popularly human resource management team will be required that will receive grievances regarding any matter related to clients or employees of the organisation. A management team will be necessary that will look after and manage all the operations that are going on in a business. More departments are necessary for maintaining the functionality of other business operations that depends on the type of business (Weibach 2013). The various departments in an organisation require to maintain communication among each other as each of the departments are interlinked in their functionalities for the business to work properly. An organisation incorporates many technologies that help to maintain a proper link among the various hierarchies in the organisation (Ver?i?, Ver?i?, and Sriramesh 2012). The report introduces a system known as the Enterprise Resource Planning (ERP) system that is a type of information system, which is implemented in organisations to help the organisation to manage and integrate the important parts of the business like planning, inventory management, purchasing, sales, marketing, human resource and finance. The purpose of the report is to explain in detail the role and advantage of an ERP system in an organisation (Ver?i?, Ver?i?, and Sriramesh 2012) Definition of Business Process A business process is defined as a collection of tasks or activities that are interlinked and the process ends with the completion of delivery of a service or a product to the client. The completion of the task by the organisation helps the organisation to complete its goal. A business process is required to involve well-defined inputs and a single output (Dumas et al. 2013). The inputs should comprise of all the factors that has contributed both directly and indirectly to the completion and delivery of a service or product. These aspects can be segmented into operational processes, supporting processes and management processes (Weske 2012). Management process is responsible for governing the activity of a particular companys system of operation. The operational process looks after the core business functionalities. The role of the supporting business process is clear from its name as it supports the operational process in performing its activities (Jeston and Nelis 2014). Supporting processes are generally managed by the human resource management and finance department of an organisation. A process requires various steps of activities to achieve an objective. Processes are considered simple or complex depending on the number and complexity of each step, and the quantity of systems involved for the completion of the process (Van Der Aalst 2013). A process can be short or long depending on the complexity level of the process. The longer a process is the more dependencies it tends to have and a greater requirement of documentation arises. The figure provided below shows a generalised business process model that is adopted by most organisations (Laguna and Marklund 2013). Figure 1: General Business Process Model (Source: Weske 2012 ) Definition of Business Requirements Business requirement in general is defined as a statement that explains the functionality of a system rather than the process by which the operation is executed. A business requirement consists of instructions that describe the functions that are required to be provided by the system and the characteristics of the resulting solutions (Robertson and Robertson 2012). It helps a business to identify its functionalities that it requires to perform to achieve its goal. The figure provided below shows the position of a business requirement among the steps of a business process (Wiegers and Beatty 2013). Figure 2: Business Requirement in a Business Process. (Source: Robertson and Robertson 2012) Objective of Business Requirements The purpose of a business requirement is as given below: Documentation and clarification of the needs of the stakeholders. Setting, clarifying and managing the expectations regarding the delivery detail of the service or product to the client. It helps an organisation to analyse, understand their requirement of resources for the performance and completion of their activities, and provide an outline to them that will aid them to make an informed purchase decision. It helps to maintain the scope of an IT development or purchase. A mechanism is provided that helps to establish communication with a service provider of technology regarding the functionality of the solution that will meet the requirements of the business. Helps to make cost and product pricing decisions. Provide an opportunity to examine the functionality of a product. Lastly, it allows comparing various products during purchasing done by an organisation (Bryman and Bell 2015). Steps Involved in a Business Requirement A business requirement involves five steps as shown below that can be useful for any organisation while creating a business requirement analysis (Falge, Otto and Osterle 2012). Figure 3: Steps involved in Business Requirement Analysis. (Source: Falge, Otto and Osterle 2012) Enterprise Resource Planning (ERP) System ERP is a type of information system that is required for the management and integration of essential aspects of an organisation. It is a term used in industries that is coined for explaining a large variety of operations that allow an organisation to manage its business. An ERP system performs a vital function of integrating back office processes performed by a business and allows smooth data flow within the organisation so that the business personnel can take proper decisions (Hall 2014). ERP system software is designed to gather and manage information from different levels of an organisation and link the activities of each department of the organisation with each other. A well-planned incorporation of ERP can facilitate a company to automate and standardise its business process and help the efficiency of the operations for further improvement (Romney and Steinbart 2009). An integrated approach to manage business processes not only saves time and money but also ensures that all the departments are performing their functions in relevance to the same data and is able to view the same KPIs (Key Performance Indicators). The need for the implementation of an ERP system arises in an organisation when the business systems start to outgrow, especially when business systems are composed of a wide range of applications that has been gathered by the organisation over time (Gelinas and Dull 2008). The ERP system becomes necessary when the gap between the capability of the business software and the need of the business processes widens creating a pain issue for the organisation. The ERP system does not have a generalised model or method of implementation, rather it varies from organisation to organisation that implements the system as per the mode of their operation (Richardson, Chang and Smith 2014). Types of ERP system Most organisations that use ERP systems implement a homogeneous, complex and large on board legacy systems. These systems are very costly for implementation due to the intensive requirement of the huge legacy infrastructure within the organisation premises. The maintenance of such systems is also very difficult due to its complex structure and the company using such system needs to recruit additional personnel for the maintenance of such systems. Moreover, the essential data stored aboard the legacy ERP system always runs the risk of being damaged or stolen due to any human or non-human activity (Powell, Riezebos and Strandhagen 2013). The latest type of ERP system uses cloud-based services instead of the bulky and complicated legacy systems. The process of conversion of the legacy ERP systems to cloud-based ERP systems is very difficult as the legacy systems do not easily convert to the cloud-based ERP version (Romney and Steinbart 2012). Moreover, conversion of an ERP system from one type to another requires considerable change in the business process model, training to the employees regarding the new ERP system features and operations, rear support for integration of database and analysis of data. Nowadays, the ERP vendors are providing ERP system software that has cloud-based compatibility as many organisations have started to adopt cloud compatible ERP systems (Zach and Erik Munkvold 2012). Cloud-based ERP systems are easy to deploy and requires less cost for deployment. A company that uses cloud-based ERP systems do not have to worry about the maintenance of the infrastructure nor do they have to deploy any e xpert within premises to operate and manage the system. Another advantage of deploying cloud-based ERP system software is that the mission critical information of the organisation is stored in the cloud at multiple remote locations secured with latest security tools (Staehr, Shanks and Seddon 2012). Therefore, the chance of data damage due to any human or non-human activities is minimised to negligible amount. The organisation pays for the cloud-based services and the cloud service providers look after all the operations, from maintenance to the security of the system along with complete infrastructure necessary for the ERP system to perform its required task (Clegg and Wan 2013). Some organisations adopt a hybrid approach to the implementation of the ERP system. In this kind of approach, part of the system is hosted in the cloud server and the rest is deployed on premises. The mission critical information that is required by the organisation for its business operations are generally stored in the cloud-server whereas the hardware part is implemented in the organisation (Elragral and El Kommos 2012). Multi-tiered ERP System General deployment of ERP system to an organisation includes a standard monolithic system from a single vendor. These vendors generally provide service with huge legacy systems. However, many organisations are recently adopting the process of running multiple ERP systems within a single environment. This model of deployment is known as multi-tiered ERP system deployment (Bradford 2015). The reason for this mode of deployment of the ERP system is due to the complexity of geographical differences between an organisation with its various departments or company mergers for which various systems are required to be integrated within a single environment. This type of ERP system generally involves the deployment of a centralised huge Tier-1 ERP, which is installed across the organisation. The Tier-1 ERP system performs all the mission critical activities for the organisation. One or more additional ERP system known as Tier-2 ERP system are deployed, which perform department specific less critical functions (Al-Johani and Youssef 2013). ERP System Requirements The system requirement for an ERP system varies among different organisations that depend solely on the type of business the organisation is in and the business area, which the organisation seeks to improve. The organisations that are in the business of selling products adopt an ERP system that manages the functions related to manufacturing, distribution and supply chain management. The organisations that provide service to other companies deploy ERP systems that provide support regarding field services, service level agreements and sales operations (Matende and Ogao 2013). Useful ERP software has loosely coupled software modules that integrate easily with other information systems that are pre-installed in an organisation. Some of the main components that are included in most ERP software are as follows: Human Resource Management is tasked to accumulate information and form reports regarding recruitment of employees, training and professional development of employees, and review of performance, exit interviews and mediation. Finance has the responsibility to accumulate information regarding finance and creates reports like overall balance sheets, ledgers, quarterly financial statements and trail balance information. Supply Chain Management has the duty to gather information and form reports regarding information, finance and materials that is involved in the process that starts from a supplier and ends with the delivery to the customer. Inventory Management performs the task of acquiring and accumulating information and generating reports related to stock items and non-capitalised assets (Matende and Ogao 2013). Vendors of ERP System Software Many ERP vendors are there who provide a wide variety of functions depending on the requirement of the organisation with both the choice of cloud or on-board deployment. Microsoft Dynamics, SAP and Oracle are the popular legacy platforms that have multiple functional ERP systems and both the option of on-board and cloud deployment. Many small, medium and large organisations are their clients (Ajit, Donker and Patnaik 2014). Provided below is a list of other top vendors that also facilitate multirole ERP systems: Infor Sage Software Inc. Epicor Software Corp. IFS World SYSPRO USA QAD Inc. IQMS The top ERP cloud vendors are as follows: Plex NetSuite Inc. Acumatica Inc. Kenandy Inc. Small vendors providing ERP software support often specialise to help in business processes like financials, research and development, supply chain management, engineering and HR. They also provide expert solutions on particular business sectors retail, healthcare, manufacturing or public sector (Ajit, Donker and Patnaik 2014). Support Provided by ERP Vendor The vendors who provide ERP software system to various organisations offer a variety of support models for the ERP systems that depends on the licensing contracts made with clients. The responsibility of support service includes various levels of functionality. An organisation needs to maintain voice support and consultation module for its customers. Other services like solving incidents, fixing bugs, assistance regarding patches, updates and upgrades are also provided by these ERP vendors (Ajit, Donker and Patnaik 2014). However, some organisations provide support as third-party vendor for the management of the ERP system that is provided by another vendor. Method of Successful ERP Selection for Organisation ERP solution providers are easy to find and employ who claim to provide the best in market service. However, it is difficult to choose the right vendor who will help to provide a perfect solution necessary for the improvement of the organisation (Ajit, Donker and Patnaik 2014). The process of choosing and investing on the correct ERP solution is an important process that needs the involvement of individuals from various levels and departments of the organisation to determine that the implementation of the new ERP system will improve the productivity of the organisations, reduce the cost of operation, increase efficiency, increase the profit count and such (Ajit, Donker and Patnaik 2014). The nine steps provided below will ensure an organisation to discover and adopt an optimum ERP solution for the improvement of the same. Assessment of Need of an ERP System in Business The initial requirement before commencing the operation of choosing a new ERP system or changing an existing one is to analyse and determine the need to deploy an ERP system in the organisation. It is better to create a list of all basic as well as specific requirements that is expected from the ERP service provider. It is also necessary to create a list of expectations regarding the improvement of business like evaluation of strategy, cost saving and control, better tools for reporting, growth and compliance (Sun, Ni and Lam 2015). Appointing a Selection Team and Following an Organised Selection Process Once the necessity of the ERP solution is determined in relevance to the requirements in the organisation, a selection team is required to be organised that will be responsible for the management of the whole process of the ERP system implementation from the beginning until the end (Sun, Ni and Lam 2015). The selection team should comprise of relevant staffs from the various organisational departments, senior management and corporate personnel, so that the new ERP system succeeds to mitigate all the existing organisational issues. The team should be handled by someone who is adequate knowledge regarding the existing organisational system and its issues (Sun, Ni and Lam 2015). Assessment of Business Requirements and Resource Limitations The selection team will be tasked to analyse the existing organisational system and assess the operations the organisation performs. It will then examine the drawbacks within the organisation that is hindering it in its improvement and create a list of the issues (Sun, Ni and Lam 2015). A list is also necessary that will provide the required amendments needed to be present in the new ERP system that will seal the loopholes of the company and aid in its improvement. The functionality, responsiveness and adaptability of the system should also be taken into consideration to help avoid high consultation cost (Sun, Ni and Lam 2015). Communicating With Top Vendors The communication with vendors regarding the implementation of a new ERP system to the organisation or changing an existing one should include certain questionnaire that is required to be clarified from the vendor. These questions will help the selection team to understand that whether the ERP system provided by the vendor will help to solve all the requirements of the organisation (Sun, Ni and Lam 2015). Some of the questions that may be asked that will help to achieve the objective of the organisation mentioned above are provided below. Which application area is covered by the vendor? How many existing clients of the vendor are there at present? Does the vendor facilitate with structured implementation methodology? Does the vendor provide local customer support in different countries? Determining the Selection Criteria of ERP Features It is necessary to measure and grade the ERP features. Some selection criteria are necessary to be determined during the selection process of an ERP system that matches all the business requirements of the organisation. A scorecard is also necessary to be generated that will provide a score-based report to the ERP vendor, which will help the vendor to understand the level of service that is being provided to the organisation. The table given below will help in the selection criteria (Sun, Ni and Lam 2015). ERP FEATURES (Selection Criteria) ERP Vendor Vendor 1 Vendor 2 Vendor 3 Vendor 4 Vendor 5 Annual Cost Mobility Scalability Core Modules Business Intelligence and Reporting Security and Encryption Integration Workflow Automation Extensibility Table 1: Selection Criteria of ERP Features (Source: Sun, Ni and Lam 2015) SCORE CARD Description Score Exceeds beyond requirement expectation 4 Meets the requirements 3 May not meet the requirement 2 Does not meet the requirement 1 Do not apply 0 Table 2: Score Card to Compare the ERP systems (Source: Sun, Ni and Lam 2015) Determining the ERP Vendor Selection Criteria and Finding the Correct Vendor To deploy ERP system software that meets the requirement of the organisation it is necessary to analyse the different ERP vendors that is available to the organisation and compare their services to find the vendor whose services are compatible to the requirements of the organisation. To achieve the above-mentioned objective it is necessary to consider more than one vendor, preferable five to ten vendors whose services can be compared and graded. The rest of the process is same as that in the previous step. The table provided below will help the selection team to grade and compare various vendors that will aid in the selection of the compatible vendor (Sun, Ni and Lam 2015). Selection Criteria ERP Vendor Vendor 1 Vendor 2 Vendor 3 Vendor 4 Vendor 5 Technical Requirements Financial Strength of Vendor Business Assessment Licensing Cost Future Product Development Roadmap of the Vendor Training Costs Corporate Value of Vendor Customer Support Table 3: ERP Vendor Selection Criteria (Source: Sun, Ni and Lam 2015) SCORE CARD Description Score Expectation exceeds beyond the requirement 4 Meets the requirements 3 May Not Meet the Requirement 2 Does Not Meet the Requirement 1 Do Not Apply 0 Table 4: Score Card to Compare the Vendors (Source: Sun, Ni and Lam 2015) Filling the Score Cards and Comparing the ERP Vendors based on Total Score The scores received in the steps 5.5 and 5.6 are required to be summed and the top two to three vendors needs to be shortlisted for the processes that is described in the next steps (Sun, Ni and Lam 2015). Short listing of the Vendors and Demo Proposal The top two to three ERP vendors are shortlisted according to the scorecard result and then they are told to provide demo solutions with their ERP system that will solve some of the issues of the organisation (Sun, Ni and Lam 2015). Final Selection of the Compatible ERP Vendor and Forming the Project Plan for the New ERP System Implementation The ERP vendor who succeeds to provide the best ERP solution in the step 5.8 will be chosen for the initiation of a client-vendor relationship and starting the process of implementation. The process stated above begins with the finalising of the service contract, licensing and maintenance agreement between the client organisation and the ERP vendor (Sun, Ni and Lam 2015). Conclusion The report concludes with the fact that an ERP/AIS system is necessary in every organisation for achieving flawless performance in business. The implementation of a good and new ERP software system requires involvement from every level and department of the organisation who have to complete a number of complex steps to examine and find the correct ERP solution that is compatible to the critical requirements of the organisation References Ajit, D., Donker, H. and Patnaik, S., 2014. ERP system implementation announcements: does the market cheer or jeer the adopters and vendors?. International Journal of Accounting Information Management, 22(4), pp.339-356. Al-Johani, A.A. and Youssef, A.E., 2013. A framework for ERP systems in SME based on cloud computing technology. International Journal on Cloud Computing: Services and Architecture, 3(3), pp.1-14. Bradford, M., 2015. Modern ERP: select, implement, and use today's advanced business systems. Lulu. com. Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA. Clegg, B. and Wan, Y., 2013. Managing enterprises and ERP systems: a contingency model for the enterprization of operations. International Journal of Operations Production Management, 33(11/12), pp.1458-1489. Dumas, M., La Rosa, M., Mendling, J. and Reijers, H.A., 2013. Introduction to business process management. In Fundamentals of Business Process Management (pp. 1-31). Springer Berlin Heidelberg. Elragal, A. and El Kommos, M., 2012. In-house versus in-cloud ERP systems: A comparative study. Journal of Enterprise Resource Planning Studies, 2012, p.1. Falge, C., Otto, B. and sterle, H., 2012, January. Data quality requirements of collaborative business processes. In System Science (HICSS), 2012 45th Hawaii International Conference on (pp. 4316-4325). IEEE. Gelinas, U.J. and Dull, R.B. 2008. Accounting Information Systems, 8th edition, South-western Cengage Learning. Hall, James A. 2014 Accounting Information Systems, 9th edition, South-western Cengage Learning. Jeston, J. and Nelis, J., 2014. Business process management. Routledge. Laguna, M. and Marklund, J., 2013. Business process modeling, simulation and design. CRC Press. Matende, S. and Ogao, P., 2013. Enterprise resource planning (ERP) system implementation: a case for user participation. Procedia Technology, 9, pp.518-526. Powell, D., Riezebos, J. and Strandhagen, J.O., 2013. Lean production and ERP systems in small-and medium-sized enterprises: ERP support for pull production. International Journal of Production Research, 51(2), pp.395-409. Richardson V.J., Chang C.J., Smith R. 2014. Accounting Information Systems McGraw Hill ISBN:0078025494 Robertson, S. and Robertson, J., 2012. Mastering the requirements process: Getting requirements right. Addison-wesley. Romney, M.B. and Steinbart, P.J. 2009. Accounting Information Systems, 11th edition, Prentice Hall. Romney, M.B. and Steinbart, P.J., 2012. Accounting information systems. Boston: Pearson. Staehr, L., Shanks, G. and Seddon, P.B., 2012. An explanatory framework for achieving business benefits from ERP systems. Journal of the Association for Information Systems, 13(6), p.424. Sun, H., Ni, W. and Lam, R., 2015. A step-by-step performance assessment and improvement method for ERP implementation: Action case studies in Chinese companies. Computers in Industry, 68, pp.40-52. Van Der Aalst, W.M., 2013. Business process management: a comprehensive survey. ISRN Software Engineering, 2013. Ver?i?, A.T., Ver?i?, D. and Sriramesh, K., 2012. Internal communication: Definition, parameters, and the future. Public relations review, 38(2), pp.223-230. Weibach, R., 2013. How business departments manage the requirements engineering process in information systems projects in small and medium enterprises. Issues in Informing Science and Information Technology, 10. Weske, M., 2012. Business process management architectures. In Business Process Management (pp. 333-371). Springer Berlin Heidelberg. Wiegers, K. and Beatty, J., 2013. Software requirements. Pearson Education. Zach, O. and Erik Munkvold, B., 2012. Identifying reasons for ERP system customization in SMEs: a multiple case study. Journal of Enterprise Information Management, 25(5), pp.462-478

Economic Performance of Singapore

Question: Write an essay on "Economic Performance of Singapore". Answer: 1. Introduction Singapore has been a trade oriented economy with the most business-friendly regulatory environment. It is a successful free market having a strict tolerance to corruption and ethical practices. Manufacturing and Service sector has been the two strong pillars of the economy. Maintaining and managing international competition has been priority for Singapores sustainable growth since it is dependent on the export and imports volume largely. To sustain the financial pressure on the economy, government intervene to manage human capital and inflow of foreign workers with its tight regulations. Singapore has witness major restructuring of policies and procedures for industrial growth, correcting labor market and developing the internal resources of the country. The essay will highlight the economic trend indicating the GDP performance productivity, focusing the monetary performance of the economy in a given period. It will discuss the issue relating to the mass momentum in the labor market, managing internal unemployment and opportunities created to provide longer job prospects to the citizens. Indicating the transition of Singapore government to transform its labor intensive industries to capital intensive, cutting down the dependency on foreign workers and upgrading the skills of its local workforce. The study will also analyze the inflation trend of the country, emphasizing the types of inflation prevalent in economies around the world. Underlining the initiatives taken by the Singapore government to address each challenge and reposition the countrys economic stance at a higher level. These prospects aspire to embark new growth level for the country in near future. 2. Production Output Performance 2.1 Real Gross Domestic Product The Gross Domestic product is a term that measures national output and income of a focus countrys economy, adjusting inflation. It sums up all the expenditure of goods and services produced with in the country in a given period. The GDP of Singapore was US$ 307.86 billion in 2014 than US$ 302.25 in 2013. As per the Monetary Authority of Singapore, the credit for this growth goes to expansion of financial service industry with manufacturing sector contracting to 2.5%. The growth has been observed in construction sector for creating new infrastructure and service sector to a large extend. The Singapores GDP is 0.50 percent the world economy, the average GDP performance since 2009 to 2014 is US$ 67.77 billion (Industry., 2014). Singapore strong economic growth picked up from 2010 onwards, nearly grew up to 15% after the global recession pertaining to foreign investment and development strategy. Service sector has been a major contributor with more than 75% of total GDP. Finance insurance and business service sector experienced a growth of 7.7 % and 2.9 % respectively. The other sectors such as transportation, telecommunication and wholesale retail trade has also expanded in 2014 (Industry., 2014). Figure 1: Singapore GDP 2.2 Real Gross Annual Growth Rate The real gross annual growth rate can be determined by the change in the value of goods and services over a period in a year. The country experienced a slower annual growth rate during the period of 2012 to 2014, the government initiative to reduce the cheap labor in the market has pushed up the cost. Singapore has been trying to cope up with the stiff competition from developing countries like India, Vietnam and China for its low cost manufacturing products since long. Singapore aspires to utilize its internal human resources to reduce external dependency through intensive training development programs especially for Singaporeans and strict immigrant policy. These initiatives implemented between 2011 to 2013 at a large level has resulted the annual growth rate to stabilize between 3 to 4 % during 2012 to 2014. Figure 2: Singapore Gross Annual Growth Rate 2.3 Real GDP Per Capita Analysis The gross domestic product per capita can be determined by measuring the average income of per individual in a country. The GDP per capital of Singapore was accounted at US$ 38087.89 in 2014. As a part of worlds average contribution, Singapore GDP per capita amounts to 302%. The GDP per capita of Singapore has been highest in 2014 pertaining to the resources and evolving service sector in the country. The lowest has been recorded in 2009 at US$ 30700.47 due to global recession (Siddiqui, 2010). Figure 3: Singapore GDP Per capita The income of the people in the country is increasing but the job opportunities have squeezed down due to lack of skill and expertise in the locals. This mis-match has reduced the number of people spending more money combined with the number of lay-off taking place in the country. The fall in the per capita income was largely effected during the period of 2010 to 2011, whereas it picked up most in the year 2013 to 2014 pertaining to new policy initiatives. 2.4 Production Output Performance Government Measures As an initiative to enhance the economic and financial performance of the country, Singapore government has implemented economic restructuring and growth policies. The government aspire to created value added and high capital intensive industries with in the country, creating lesser dependency on the foreign workers. These initiatives drive the economy to achieve higher per capita economic output with lesser number of foreign workers. It would also enable the country to improvise the overall productivity and competition in the market (Koh, 2006). Singapore government plans to introduce new innovative approach for product manufacturing processes, supply chain management, RD and new market entry strategies. These initiatives would lead the country to drive the industrial economic growth, bringing more opportunities as well as foreign investment. Through a comprehensive RD ecosystem the government aspires to enhance the innovative capabilities of local enterprise (Abeysinghe Choy, 2007). Managing human capital has been the most important agenda of Singapore government. Human capital development policy has been implemented to upgrade the skill of the local workers adjusting to the evolving change of the industry. This initiative would enable the human resource to stay employable for a longer period (OECD, 2013). 3. Labor Market Analysis 3.1 Unemployment Trend in Singapore Singapore unemployment status as shown in figure 4, has been lower in 2014 in comparison to 2012. The major unemployment hit was observed between 2009 to 2010 following the global economic recession. The fall in the unemployment rate is due to the high labor force participation for residents reaching to new heights, driven by the involvement of older residents and women. There have been more training programs for local residents on skill upgradation such as Workfare Training Support Scheme, Continuing Education and Training etc. Due to these initiatives the employment rate fell down drastically to 2.3% in 2011 to 2.1 2 % in 2012 (daohua, 2014). Figure 4: Singapore Unemployment Rate 3.2 Types of Unemployment in Singapore Unemployment is a situation where the deserving candidate is unable to find a job for himself. In Singapore there are three different kinds of unemployment such as frictional unemployment, Structural unemployment and Cyclical unemployment (Fiji., 2004). Frictional unemployment is a transitional unemployment; it happens because potential candidate takes time to find an appropriate job suiting to his or her credentials. Pertaining to Singapore governments initiative to motivate the citizen with better opportunity, replacing with the one held by immigrants, takes time. Also fresh graduates, looking for job takes their own course to find one. This type of unemployment is prevalent in every economy. Structural Unemployment takes place as a result of restructuring in the economy. This takes place when a country faces mismatch of the skills with regards to the changing structure of the industry. Singapore has been driving efforts to reduce the labor dependency and create automation through capital intensive technology. Such change has caused unemployment from the low skill industry which needs to be trained and re-employed. The manufacturing industry in Singapore has seen a down shift due to the competition from low cost emerging economies, moving away the investment and trade opportunity. Cyclical unemployment is a result of demand-deficiency in Singapore as the country is largely dependent on external demand for its economic growth. The shrinking manufacturing sector has made the Singapore IT products exports expensive for the rest of the world. The fall in international demand of the manufacturing product in the market has lower the demand for Singapores goods and services, further resulting to economic depression, workers lay-offs, plant shut-down etc. 3.3 Higher Employment Government Measures To address the issue of unemployment, Singapore government has initiated heavy investment on training and development programs for the resident workforce of the country, especially women and elderly people. To make the locals employable for a long time it has been identifying industries with longer sustainability and train them as per the skills required. A key initiative has been implemented such as Worker Training Support Scheme in 2010 for the low wage workers to get enrolled. On the same hand employers are provided subsidies up to 95% on the course fees as well as absentee pay roll. Another scheme such as Continuing Education and Training in 2011 for professionals, executives, technicians, executives, etc comprising for more than 50% of the workforce in Singapore (OECD., 2012). The government is also geared up by creating infrastructure for education and training in the form of building universities, focusing on innovation and entrepreneurship. Creating opportunities for aging generation and labor workforce through Tripartite Committee with following measures such as restructuring the wage structure, employment opportunities for older workers; enhance skills and productivity (Tat Toh, 2014). 4. Price Level Analysis 4.1 Inflation Trend in Singapore The inflation has fell sharply to -1.5% in 2010 due to the global recession, as the market grew from 2011 onwards the inflation begins to rise. Reaching to a level of around 6% in 2012 it fell sharply again in 2014 and 2015. Inflation fell sharply by .2% year-on-year in Dec 2014 mainly due to the fall in transportation as well as housing costs (Dube, 2013). The moderation in the residential property price has been able to manage the inflation rate at a lower level. The real income growth picked up in 2013 due to high nominal income gains causing inflation to be eased. The real median income of the workers increased by 4% in 2013 causing to fall in inflation levels (IMF, 2013). Figure 5: Singapore Inflation Rate 4.2 Causes of Inflation Inflation is caused due to a persistent increase in general price level in the economy along with the fall in the consumption pattern and purchasing power of the consumer. There are two types of inflation in any economy such as: Demand Pull The demand pull inflation occurs when the aggregate demand of the goods and services produced in a country is more than the supply. This creates a situation where the excess from the supply needs to be diverted to fulfill the increase in demand. Demand pull inflation in a country curtails the exports diverting the goods to attain domestic market demand. This also reflects an economic inefficiency to produce required goods and services for domestic consumption (Ebiringa., Thaddeus, Anyaogu, 2014). Figure 6: Demand Pull Inflation Cost Push Cost push inflation takes place when the higher cost of production is passed on to the consumer by making things expensive and selling them at higher prices. Also a rapid increase in the wages or salaries as well as increase in the raw material price are the cause to cost push inflation (Ebiringa., Thaddeus, Anyaogu, 2014). Figure 7: Demand Pull Inflation 4.3 Stable Price Government Measures To stabilize the inflation fluctuation in the economy Singapore government has taken steps in the most affecting sectors such as Housing and Transport, Labor market and etc. Housing and transportation has accounted for more than two-third of the rise in the prices in 2012 and it is further account for more than half this year. To address the housing inflation, Singapore has introduced a new tool that would discourage and restrain the housing market. Implementing limitation on loan credit and increasing additional stamp duties would together make the housing market expensive, thereby increasing the value of the existing ones and rentals both (Chan, 2013). To correct the transportation sector especially the car segment, the government is in the process of re-examining the system of classifying certificates of entitlement. This initiative would help in optimizing the allocation of COEs as well as tempering with the car prices. To control the labor market, tighter regulations on hiring foreign workers has been implemented to keep the labor market tight. Lower number of foreign workers would help companies having relief from foreign workers levies. Few more fiscal measures have been designed to help businesses to cope-up with the increasing costs such as Wage Credit Scheme, increase wage of Singaporean employees; Productivity and innovation Credit, encourage businesses to make improvement in their productivity as well as conduct innovation; Gross Income Tax Rebate, providing 30% rebate on the business cost granted to companies for three years from 2013 to 2015 and Enhancement to the productivity and innovation credit scheme, help business invest money in innovation and enhance productivity at the same time. 5. Conclusion To summarize, the Singapore economy is showing positive improvement in its overall structure to address the challenges of economic growth, unemployment and inflation. The country has altered with economic policies and procedures to correct the present situation of managing human capital, housing and transportation sector as well as unemployment rate in the country. Adequate measure with regards to each challenge has been put in place to ensure the stability in economic growth, increase in employment opportunities for women and older people and curb the fluctuating inflation levels. The overall growth of the economy has been turbulent since 2005 to 2014, having fluctuating performances as well as growth level. The continuous government innovative initiatives aspire to take the country way ahead of its competing nations. 6. Bibliography Abeysinghe, T., Choy, K. M. (2007). The Singapore Economy: An Econometric Perspective. London: Routledge. Chan, F. (2013, Feb 14). Taming the inflation monster. daohua, D. (2014). The Reasons Why the Singapore Economy Has Been Outperforming Hong Kong. Dube, A. (2013). Minimum Wages and Aggregate Job Growth: Causal Effect or Statistical Artifact? Ebiringa., Thaddeus, O., Anyaogu. (2014). Exchange Rate, Inflation and Interest Rates Relationships: AnAutoregressive Distributed Lag Analysis. Journal of Economics and Development Studies, 267-269.