World Bank and the International Monetary Fund Essay

World Bank and the International Monetary Fund - Essay Example Through lending money, the bank supports the ambition of developing nations to join the European Union. This is done through Country Assistance Strategy. Work Bank provides both technical and financial assistance to the developing countries based on the assessment of the priorities of the country, creditworthiness and past portfolio performance (Sadler, 2009). In addition, the World Bank maintains macroeconomic stability, fosters human development, promotes sustainable growth of private sector and improves business environment, and also improves governance and strengthens institutions via building inclusive and efficient public institutions. The role of International Monetary Fund in providing loans to countries is somehow similar to those of World Bank. The International Monetary Fund has a mandate to oversee international financial and monetary system as well as monitor the financial and economic policies of the member countries. This is done through surveillance which enhances international cooperation. The International Monetary Fund also puts up lending conditions that ensure borrowing countries will repay the loan and that the nation will not solve its balance of payment in a manner to negatively affect the international economy (Sadler, 2009). Summarily, International Monetary Fund fosters economic stability and global growth, and poverty reduction through

Psychology essay Example | Topics and Well Written Essays - 3000 words

Psychology - Essay Example Normally, these performance appraisals tend to be â€Å"tick the box† exercise. This in essence creates anxiety on the side of the management and that of the employees. After the performance appraisal has been competed they should not be shelved until the next exercise but they should be looked at immediately to allow for appropriate review actions. This can help employees improve their performance. In most cases, problematic feedbacks are usually postponed or hidden or sometimes cheated about when filling the performance Appraisal form. Majority of managers do not want to report that those under them are not performing well for the fear of being responsible of their lack of promotion or a pay rise. The performance appraisal should be objective in nature. This is to say that, they should be full of professional perspectives and should not have any personal views. Usually personal views in the performance appraisals are biased and this is very detrimental. The process of perfor mance appraisal should not come as a surprise to the employees. This is because, if all emphasis is placed on the process then, there is a possibility of generating tension at the build up phase. This can also reduce motivation on the side of the employees, which as a result can lead to decreased productivity. Majority of the employees in the organization should be satisfied with the performance appraisal processes. An appropriate performance appraisal should be a truly consented abstract of what has been going on continuously in the organization between appraisals. Surely, if the appraisal process is reviewed twice or thrice annually, all the chances to sustain and direct the workers to get better are missed. This is because managing of people is a continuous process and not a one-time activity. The managers should not put more focus on the process alone as this is very dangerous but they should rather look at the continuing performance management. The managers should place their e mphasis on the reason why the performance appraisals are carried out. The main purpose why appraisals are conducted is to help employees become more effective. They also help the managers manage those under them well. The performance appraisal process should be an exercise that tries to unearth the truth about an individual’s performance on the work function assigned in the organization and therefore it should be realistic and clear. Briefly, a sound performance appraisal should be unbiased and purposely a continuous two way and specific process. It should not be an exercise that brings in fear and embarrassment to the employees but an exercise that motivates them. Part 2 Recommendations about how the success of a new performance appraisal process should be evaluated The success of a new performance appraisal process can be evaluated through various ways namely: Peer evaluations The organization can form a task force of four to seven employees. The mandate of the task force s hould be to set a peer evaluation program. The task force should be to set targets and objectives of the evaluation program and can carry out a pilot program. When conducting the pilot program, participants can be persuaded to offer feedback on whether the performance measurement system is good. This is because pilot program is significant for a new performance