Chinese economic systems before and after 20th century Essay

Chinese economic systems before and after 20th century - Essay Example They exported tea and porcelain products to various countries but after the 16th century, they lost their position on account of the closed door economic policies of their governments. By the 1950’s, China was producing only 10% of the world’s GDP. However, with the formation of the People’s Republic of China, there was a concentration on export oriented growth and China opened doors to the world. Early Chinese was an agriculture based economy. The economy was mostly centralized and was dominated by the bureaucratic class. The bureaucracy and gentry of imperial China were quintessential rent seekers (Maddison 2007). The bureaucracy was totally controlled by the various rulers but the bureaucrats had full freedom to run the show in the provinces they were in charge of. Thus, there was complete dominance of the urban life by this class. The lucrative business activities were impeded by the red tape. Hence, most of the big businesses were owned only by the government enterprises. There was to protection for investment by the private individuals. China’s merchants, bankers and traders did not have city charters or legal protection and international trade and intellectual contacts with the western world was completely restricted (Maddison 2007). From the beginning of 18th century till the mid 19th century, the country was plagued with many internal disorders. These rebellio ns and wars devastated the economy. Some of them were – The Taiping rebellion, the Muslim rebellions in Shensi, Kansu and Sinkiang, wars with France, UK, Japan and Russia (Maddison 2007). The financial sector of the country before 1978 was not developed much. There was only one bank, the People’s Bank of China (PBOC), which was completely controlled by the government (Brandt, Rawski and Lin 2005). This bank received budget from the government and was the sole supplier of money to all government agencies. All government units, military units and cooperatives

Managerial work has been researched through a number of studies using Essay

Managerial work has been researched through a number of studies using a wide range of methods over the last four to five decades - Essay Example 90-112). They are key personalities whose effectiveness and proficiency provide congruence to expected practices and performance (Hales, 1986, pp. 90-112). They lead and define the behaviour and activities of an organisation to make it truly functional and fully attuned to the standard of quality performance (Hales, 1986, pp. 90-112). Managers will also ensure that all departments are working systematically and that human resources correlate as a disciplined team in accordance with organisational policies (Hales, 1986, pp. 90-112). Managers are constantly engaged in critical analysis to read trends, opportunities, methodologies, and determine the proper mechanism in responding to political, economic, social, technological, logistical, and environmental aspects in nurturing an organisation (Hales, 1986, pp. 90-112). ... iffer in their system of communications and try to be pliant with circumstances to be able to clearly interpret the implementation of corporate policies and internal systems (Hales, 1986, pp. 90-112). Managers that are deeply concerned with operations are performance-oriented in their supervision and are surrounded by a number of diverse managerial responsibilities (Hales, 2005, pp. 472-502). Some may practise a hierarchical system of direct supervision, individual managerial responsibility, and vertical accountability (Hales, 2005, pp. 472-502). But their operations are, however, con?ned to operational and human resource strategising (Hales, 2005, pp. 472-502). They maintain personal accountability in day-to-day operational flow and act using standard performance measures (Hales, 2005, pp. 472-502). They exercise responsibilities and authority to strengthen their core supervision and broaden their role in business management (Hales, 2005, pp. 472-502). They exemplify decisive change s as a result of necessary radical organisational change but they possess continued credible and wilful persistence of hierarchy and external supervision to manifest transformational system (Hales, 2005, pp. 472-502). They also work to strengthen their supervision by adopting stringent controls to attain growth in business operation with a greater range of accountability (Hales, 2005, pp. 472-502). Managers are also responsible for designating work; monitoring output and conduct; overseeing the functionality of equipment, safety and cleanliness of a company; dealing with unforeseen problems pertaining to staf?ng; managing disputes; providing counselling; monitoring documentations as well as providing supervision in operational aspects (Hales, 2005, pp. 472-502). They perform administrative