Whatever you choose Essay Example | Topics and Well Written Essays - 750 words - 2

Whatever you choose - Essay Example All these units are arranged in hierarchical manner with specific responsibilities as well as tasks which they are obliged to carry out so as to maintain Nokia at its extreme levels of performance. In addition to the above information, it is important for one to know the role played by each unit that makes up Nokia organizational structure. Principally, the responsibility of managing all the operations of Nokia lies in the hands of the Group Executive Board of Nokia. The Chairman together with other members of the group is elected into their respective positions by the Board of Directors. The â€Å"devices† unit on the other hand carries the role of developing in addition to managing the portfolio of mobile devices that are produced for consumers. The â€Å"services† unit designs and develops Internet services that enable people to enjoy using mobile devices and the web. The â€Å"solutions† unit provides solutions to complications related to mobile devices, personalized devices as well as content integrated to consumers’ package. The â€Å"markets† unit is given the responsibility of ensuring that supply chains, brand, and marketing takes place successfully. It is also responsible for supplying devices, offering services as well as solutions to the consumers. Like other units, Corporate Developing unit plays very significant roles. â€Å"It offers operational support devices, services, solutions, and markets† (â€Å"Organizational Structure of Nokia Company†). Corporate Developing is also responsible for not only exploring corporate strategies, but also future growth opportunities for Nokia. Additionally, â€Å"Nokia-Siemens Network† is a unit of Nokia that carries the role of providing wireless along foxed network infrastructure communications in addition to networks service platforms. This unit also offers professional services both operators and service providers. Lastly but not least, NAVTEQ leads in providing comprehensive digital map data that

Merits and Drawbacks of Central Bank Independence Essay

Merits and Drawbacks of Central Bank Independence - Essay Example Money is important in the economy of a country due to the several functions it serves. Since central banks are charged with critical roles, it becomes challenging for most countries to decide whether the mandate of the central bank should fall under the control of the executive or whether the institution should operate autonomously and independently. This paper discusses focuses on the independence of central bank and discusses the merits and drawbacks that are associated with an independent central bank. The theoretical case for central bank independence is founded on the notion that price stability is critical and is the main objective of any monetary policy. However, politicians of a country are mainly not interested in fully safeguarding this major objective of the monetary policy since their concern is focused on the short term and politically dependent central banks. To address this, it becomes vital that the main objective of monetary policy is entrusted to agents that have a long term focus and who are not politically elected by the masses. Theoretically, central bank independence is considered to a solution to three major problems. First, this is considered to have the capacity of making it difficult for fiscal authority and policy to have relative dominance on the monetary authority and policy. Additionally, based on the models of political business cycles and partisan cycles, central bank independence is considered to provide protection to society against the distortions th at business or partisan cycles can result into. Finally, basing on the dynamic inconsistency theory, central bank independence is considered an effective way of addressing dynamic inconsistencies in monetary policy.