- Differentiate among automation, streamlining, and reengineering. Provide at least one example.
- Summarize the different software development methodologies. Post a link to a video explaining this concept.
buy from the cheapest source and thus, drive prices down as companies are running under pressure. Indeed, “The formation of the euro zone and the SM of almost 300 million consumers will inevitably sharpen competitive pressures throughout Europe”. (Spanos et Al., Greek, pp.638) The subsequent enhancement of competition will increase economic efficiency and should cause price convergence. (Spanos et Al., Greek, pp.639) Consequently, the EMU provides information to its members and thus, enables them to make wiser decisions. g) “One fit all” policy problem: Moreover, other problems of joining the European Economic and Monetary Union will occur in the medium to long term. Indeed, the concern is that whether the states are sufficiently similar for them to co-exist with a common currency. For example, not all states are at the same stage of the trade cycle which represents a periodic fluctuation in the rate of economic activity as measured by levels of prices, production and employment. As an example, the UK is the world’s fourth largest economy and the second largest in the EU. The City of London represents Europe’s major European financial centre. The case of the UK has specific arguments: the UK has a lower level of intra-EU trade, one of the highest percentages of home owners and is affected differently by oil price movements due to different arrangements. It is then weaker and more vulnerable to external shocks which are unexpected shocks that do not affect every nation equally. (D. Johnson, C. Turner, 2nd edition, p180-183) Hence, if the UK joins the euro, they will have to increase their exchange risks because the euro is turning around the dollar. The pound for example is neutral compared to the dollar and the euro. Consequently, the inappropriateness of one monetary policy for so many states is a major cost of joining the EMU. The case against the UK’s entry in EMU depends also on other factors such as the recession the country is undergoing and the influence of the United-States. Benefits outweigh the costs? The case of Greece is a good example to show how benefits can outweigh the costs. Indeed, Greece has recently entered the EMU and thus, represents a good example for a number of candidates. Hence, it is an example of an economy in transition that has made a lot of progress in order to fulfil the macroeconomic convergence. A study of Greek firms has been conducted by Spanos (Business strategy analyst at Athens University) which helps to understand how firms react when entering the EMU and found that leading Greek firms “appear fully aware of the dramatic changes they will have to address in the near future…In line with recent empirical evidence, the findings presented here are encouraging in that they suggest a strong learning effect that has presumably led Greek management towards convergence.” (Spanos et Al, pp.646) We understand that both EU membership and the panorama of competing >GET ANSWER