Asia pacific business Essay Example | Topics and Well Written Essays - 2000 words

Asia pacific business - Essay Example Asian countries had faced a critical financial crisis in 1997, which was attributable to a high level of liquidity and volatility in foreign markets. The financial crisis brought down many economies such as Thailand, Korea, Japan, and Indonesia. More specifically, Thailand and Korea are two of the Asian countries affected by the 1997 financial crisis that managed to recover in a shorter time than expected. Therefore, when the global financial crisis of 2008 emerged, these countries had the opportunity to use the strategies developed in 1997 to recover easily from the crisis. This paper will seek to evaluate the responses of both Korea and Thailand during the global financial crisis and whether they reflect important lessons learned in 1997. On July 1997, Asian countries woke up to the reality of a salient economic crisis that threatened many economies in the region. Although it was assumed to become a global financial crisis in the end, it only remained a sectional financial crisis. Countries that were affected by the horrible crisis included, South Korea, Thailand, Malaysia, Indonesia, Singapore and Philippines (Tosompark 2014, p. 63). A close analysis of the history surrounding the Asian financial crisis reveals that it began in Thailand. This was after the Thailand currency, the Baht, registered a high level of devaluation. Initially, the Thailand government hoped that the Baht would recover its previous status without much intervention. Unfortunately, it only continued to register a declining value. The government was compelled to rely on the foreign currency market to fix the standing of the Baht. Notably, the loss of value by the Baht was accompanied by an immense foreign debt huge enough to declare the country b ankrupt (Durham 2007, p. 58). Worth noting is the fact that the accumulated foreign debt happened before the collapsing of the Thai currency. These circumstances contributed to the emergence of a financial crisis. The crisis was not limited to

Challenger Disaster Essay Example | Topics and Well Written Essays - 1250 words

Challenger Disaster - Essay Example Initially asked is what could the National Aeronautics and Space Administration (NASA) management have done differently, was there anything the subordinates could have done differently? Additionally what could Joe Kilminster an engineer and the Vice President of Space Booster programs at Morton Thiokol (Aerospace Company in charge of the solid fuel rocket motors) have done differently and what could fellow co-worker Roger Boisjoly an engineer with Morton Thiokol have done differently and were there any additional detrimental factors? Is there a difference in the professional responsibilities of the engineers involved in relation to being employees and the need to protect the public? Additionally, we will identify other potential extenuating factors that may have had an effect on the decisions of those in charge to go ahead with the launch; additionally did the President or the Vice President of the United States have prior knowledge. Lastly, after examining the various contributing f actors and problems as well as persons involved the decision will be made regarding NASA management’s decision making ability at this time. Challenger Accident case study Brief history of the Challenger disaster The Space Shuttle Challenger exploded over the Atlantic Ocean on Tuesday, January 28 1986; with its demise the lives of seven crew members were lost. The explosion which occurred 73 seconds after liftoff claimed the lives of the crew and destroyed the vehicle. The cause of the explosion was later determined to be an O-ring failure in the right solid rocket booster. Outside of human influences cold weather was also determined to be a contributing factor. (STS-51L, 2011 Para. 15) The Presidential Commission on the Challenger Accident was completed with recommendations on July 14, 1986 six short months after the accident occurred. On board the STS-51L shuttle designated, Challenger was Commander Francis R. Scobee, Pilot Michael J. Smith, Mission Specialists Judith A. Res nik, Ellison S. Onizuka, Ronald E. McNair and Payload Specialists Gregory B. Jarvis and Sharon Christa McAuliffe. McAuliffe was a High School teacher for the 10th-12th grades at Concord High School, Concord, New Hampshire. (Biographical Data, 2011) Her role was as a participant in the teachers in space program that President Reagan had initiated. The program was canceled as a result of her death and the Challenger accident; she was the first active participant and the last. She was awarded the Congressional Space Medal of Honor posthumously. The others on the mission were also awarded medals or promoted posthumously as a result of the mission’s abrupt and deadly failure. Examining NASA’s liability Understanding the ethical responsibilities inherent with the NASA administration is important. In the ensuing media blackout directly following the event from NASA and the global frenzy of speculation in the media it became apparent that previously accepted approach of absolu te secrecy regarding accidents with space going craft would need to be revised. Along with the media blackout that was standard operating procedure the events leading to the launch would need to be revised. According to NASA requirements any flight with technological problems was to be grounded. In July of 1985 Marshall Engineers had filed a formal constraint effectively grounding all future missions including 51-L (Challenger) based on problems with the motor nozzle joint. Apparently however, Marshall had failed to report the formal constraint to Level