Free Narrative Essays - This Girl :: Personal Narrative Essays

This Girl      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The girl slowly creeped across the floor. She had a look on her face of love. She began to tempt me. I could not allow her to take control over me. I could not resist. I had to let the love warm my body. I have let her take over once again. I have lost to her kiss. The kiss that has sweetened my blood. I absorbed her body.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I walked down the trail on a journey to find my house. I took this route every day. I know that it will lead me back to the place that I love so much. The place that I learn to make something of myself. This wonderful place that I call home, gives me power. I am finally a free man. I can survive well, and I control my everyday thing. I love living alone. I am in control. I set the rules, I am the man of house. I rule my own country.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   She tickles me with her long nails. She scratches the back of my neck oh so gently. I get high off of this girls love so often. I met her at a symphony. She is very popular all the puppies of my society adore her. She has seen parts of the world that no one else has. She has been kicked out of this country many times. The dreams I have after I sleep with this woman are so incredible that it makes me a little crazy the next day.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Why do my parents keep bothering me? I can hold my own now. I am mature, I am a man. I do get distracted real easily and my parents keep ruining my distraction,   I am upset because of that. I have my own apartment in Santa Cruz, I live in a pardise. California has it all, beautiful beaches, pretty girls, great bars, money, palm trees, and tons of smog. Can't live without it.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This girl really is a trip. All the things people have said about her are true. I saw her at the tikki bar the other day, she was dressed in a suit that had stars and stripes on it. She was looking fine. I asked her if she wanted to go for a walk, she replied with a sexy, acceptance. The journey started off heavenly. Then as always she started the tease. She stripped me down naked. I had lost all control, I slipped out of this world and she wont let me Free Narrative Essays - This Girl :: Personal Narrative Essays This Girl      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The girl slowly creeped across the floor. She had a look on her face of love. She began to tempt me. I could not allow her to take control over me. I could not resist. I had to let the love warm my body. I have let her take over once again. I have lost to her kiss. The kiss that has sweetened my blood. I absorbed her body.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I walked down the trail on a journey to find my house. I took this route every day. I know that it will lead me back to the place that I love so much. The place that I learn to make something of myself. This wonderful place that I call home, gives me power. I am finally a free man. I can survive well, and I control my everyday thing. I love living alone. I am in control. I set the rules, I am the man of house. I rule my own country.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   She tickles me with her long nails. She scratches the back of my neck oh so gently. I get high off of this girls love so often. I met her at a symphony. She is very popular all the puppies of my society adore her. She has seen parts of the world that no one else has. She has been kicked out of this country many times. The dreams I have after I sleep with this woman are so incredible that it makes me a little crazy the next day.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Why do my parents keep bothering me? I can hold my own now. I am mature, I am a man. I do get distracted real easily and my parents keep ruining my distraction,   I am upset because of that. I have my own apartment in Santa Cruz, I live in a pardise. California has it all, beautiful beaches, pretty girls, great bars, money, palm trees, and tons of smog. Can't live without it.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This girl really is a trip. All the things people have said about her are true. I saw her at the tikki bar the other day, she was dressed in a suit that had stars and stripes on it. She was looking fine. I asked her if she wanted to go for a walk, she replied with a sexy, acceptance. The journey started off heavenly. Then as always she started the tease. She stripped me down naked. I had lost all control, I slipped out of this world and she wont let me

Human Resource and Organizational Success Essay

A Human resource department is an organizational entity which is primarily formed to report organizational relationships, organize people and function in a manner that best supports organizational goals accomplishment. The key behind any Human resource department is the organizational devotion towards availing of efficient procedures, policies and people-friendly guidelines that will give support to the company (Cole, 2002). The department equally ensures the corporation vision, mission, values, company metrics together with other factors that keep the company on visionary focused are optimized. With this consideration, the focus of this paper will be on the benefits of having a Human resource department, the negative impact of not having a the department, the possible benefits or negative side effects a Human resource department on employees and the various types of Human resource departments. In tackling the issues that revolve around Human resource, the research done entailed past information concerning this sector in any organization. According to Cole (2002) the Human resource department in any organization its cornerstone in the sense that it gives the guideline that keeps the organization functional. In the course of this study, the benefits of having a Human resource department was attained in from both primary and secondary sources but the core information was obtained from secondary sources mainly text books. The negative impact of not having this department is a matter that has only been handled from one perspective by most of the authors in the sense that they mainly focus on the importance and advantages of having a Human resource unit in the organization. The danger or risk in evading this organizational unit has seldom been addressed and just a few writers among them McConnell (2001), Lewin, Mitchell, Sherer (2002) & Cole, all of whom have been engaged in writing about the same in their Human resource texts. The possible benefit of a Human resource sector on employees is equally an important focal point that had a lot of content as far as the sources used to carry out the research are concern. As observed the positive impact of the Human resource subdivision in the organization has a huge contribution to the employees’ welfare and output. According to some literary critics it was found that negative side effects of the Human Resource department on employees are equally present and form a major area of concern for most of the modern organizations. As a result of the numerous benefits that are associated with the various Human resource departments, they have been forced to have several sub units in order to carry out all their functionalities to total satisfaction. Benefits of having a Human Resource Department There are several benefits of the Human resource department to an organization such as employee recruitment and training. This department develops a systematic plan that is used when hiring the staff and aiding the building of professional work teams. The strategies that this department puts in place in implementing employment appointments are several. These include creation of internship opportunities, developing of test plans for the employees to be hired, allocating training sessions for the recruited employees and keenly analyzing any interviews. Building public relations is another vital role played by the Human resource section in an organization. An organization is aided by the Human resource to build proper referral systems and have proper public relations standards. It is very essential that a company develops excellent associations with other enterprises in the market so that it propels its earning by way of cooperation with other commercial sectors. The Human resource department is responsible for arranging business meetings, seminars and official business gatherings for an organization in order for the company to get acquainted with other businesses and the market at large. The same department is responsible for ensuring that the firm’s pay scale meets the terms of the changing laws and regulations. This in effect aids the firm in attaining and retaining competitive staff. The compensation managers determine commission rates and administer executive compensation programs for corporate staff that may be involved in issues such as sales on commission basis (Mathis & Jackson, 2007). When it comes to the developing of an organizational business plan, this department is an active participant. The plans in question involve both marketing and business decisions. The Human resource units’ dedicated professionals have the ability to implement marketing strategies and provide new plans that bring more capital and business to the organization. The end result increases the overall firm’s profitability. On the same note, expert consultants in the mediation and configuration of various opinions in the development of the business plan are situated in this very department. Consultancy provision is another gain that comes along with having a Human resource department. In an organization, the work-team or individual members of staff usually face numerous issues in the course of carrying out their duties (Lewin, Mitchell, Sherer, & Industrial Relations Research Association, 2002). The Human resource acts as a medium for all the advice employees seek and avail answers to general queries. Any managerial disputes are effectively handled by the Human resource department and employee problems are settled down proficiently and professionally. The Human resource branch acts as a business’ forethought by the fact that it deals with long-term business management. This department goes ahead to evaluate the business’ future scope and formulates approaches that seem most profitable to the organization in the long run and as such lead to business stability by establishing a firm medium for the corporation to stand on in future (Mathis & Jackson, 2007). In case of any potential business valuations by any other department in the firm, the Human resource unit works alongside the department in question to weigh the viability of its valuations. Due to the several benefits of having a Human resource division in the organization there are serious consequences of failing to incorporate this vital section into any corporation. A firm that either does not have a proper Human resource team in place or doesn’t have any has a lot of difficulty when it comes to having proper public relations. The reason is that, it’s a sub-section of the Human resource department which has the duty of ensuring the business maintains good public relations (Cole, 2002). The organizational referral systems would be in jeopardy due to inadequate public relations standards. This inadequacy in public relations eventually causes the business to relate poorly with other firms in the same industry and as such profitability gradually declines. A further cause for the profitability to decline would be as a result of in-capacitance of the organization to schedule business meetings, seminars and official business gatherings for acquaintance with other businesses. The firm’s ability to keep on monitoring the pay scale in relation to any changing laws and regulations would be a great challenge without the hand of the Human resource department. This in effect results in the firm failure to hire competent staff and retaining the same because qualified people in most cases are usually aware of the market wages of their profession. Adequate determination of commission rates for sales agents and administration of executive compensation programs for corporate staff would be a stumbling block for the organization in terms of employee motivation (Lewin, Mitchell, Sherer, & Industrial Relations Research Association, 2002). In developing organizational business plans, if present, the Human resource department is an active participant in the articulation. Due to the expertise involved in coming up with marketing and business decisions, it’s a great challenge for an organization without this department to have dedicated professionals to implement marketing strategies and work out new plans that bring more capital and business to the organization. The end impact is that the overall firm’s profitability would not rely on the business future plans as expected. When hiring staff, it’s very difficult for a company to come up with a proper procedure of the recruitment process and so they may end up hiring unqualified staff or worse still, turn away persons that are well suited for a given post. The main cause of this would be insufficiency in development of test plans for the employees to be hired, allocating training sessions for the recruited employees and poor analysis of interviews. Building of professional work teams is not possible when qualified persons from the Human resource department are not in the picture because the strategies that the professionals in such a department put in place can not be substituted by anyone who is not qualified to deal with Human resource related tasks professionally (McConnell, 2001). The creation of opportunities within the organization that would allow for internship opportunities may be overlooked. Unless the importance of allowing for internships is properly understood and its overall impact to the organization, only qualified employees may be considered in joining the organization. In any organization, the work-team or individual members of staff are bound to face numerous issues in the course of carrying out their duties. Without the Human resource incidences of strikes, go-slows, increased complaints and general worker dissatisfaction would be on the increase. This in effect lowers output and general company’s profitability declines (Lewin, Mitchell, Sherer, & Industrial Relations Research Association, 2002). Managerial disputes will equally result in resignations that effect loss of competent staff or frequency in engaging the organization in labor related cases in the courts. Business’ foresight especially in long-term business management is hampered if a company has no proper Human resource in place. The main reason for this occurrence is in the fact that evaluation of business future scope and formulation of profitable approaches to the organization in the long run is highly dependent on a competent Human resource team. A further cause would be alluded to the fact that, it’s only the Human resource department expertise employees that can work alongside other department in the firm if a thought emanates and they would see its fulfillment. Benefits of the Human Resource Department on employees Establishment and maintenance of a firm’s pay structure is done by the compensation managers within the Human resource sector. With the aid of compensation analysts, compensation managers formulate ways of ensuring that the pay rates are fair and equitable. They take a further step by participating in salary surveys to find out if the firm’s pay matches up to others in the same industry. Additionally, the department oversees the company’s performance management system compensation side. In effect, this ensures that they design a reward system for pay-for-performance plans that includes the setting of merit pay guidelines and incentive or bonus pay criteria. The major beneficiary in this instance is the employee so that underpayment is avoided. The employee assistance plan managers in the Human resource segment are responsible for programs that enhance employee wellness and safety which improves their work-life balance. These may comprise of occupational health and safety standards and practices, physical fitness and health promotion, minor health treatment and medical examinations, transportation programs and carpooling, employee suggestion systems, elder and child care plus counseling services. The counseling aids employees deal with alcoholism, emotional disorders, consumer, marital, legal, family and financial problems (McConnell, 2001). They do this by maintaining the application forms for the workers that are beneficiaries, claim forms and benefit booklets so as to give out to the relevant employees. Moreover, this department handles the distribution identification cards that insurance firms provide for the employees. Besides, the Human resource section helps employees by ensuring that they receive pay rises and promotions and the end result is motivation, enhanced morale and productivity. Labor relations managers within the Human resource department implement industrial labor relations programs that benefit all the employees. Information for management use during collective bargaining agreement consultations is prepared. The labor relations staffs then administer the contract after interpreting it in relation to salaries and wages, grievances, employee welfare, healthcare, pensions, union and management practices together with other contractual stipulations. Educating of organizational employees on the laws that protect their rights and development of their skills via availing courses and classes that teach them new skills and upgrade their prior education is another importance of the Human resource department. With better skills the staff is in a better position to benefit the company more, furthermore the employees are well prepared for jobs that require greater skill (McConnell, 2001). Training of workers to a level that their output meets the required standards is necessary if the organizational goals are to be met. In addition, the Human resource department trains employees on safety measures at work and on how they should look out for each other including the new employees. The workers are educated on skills that improve their interpersonal relations both in and out of the organization (Grundy & Brown, 2003). The Human resource department has training specialists that set up executive or leadership development programs for employees that aspire to move up in the organizational rank. Other training programs assist employees on job transitions due to consolidations or mergers and retraining programs as result of technological changes. Negative effects of the Human Resource Department on employees The establishment of Human resource departments has some negative impact to the employees. For instance when it comes to wages and maintenance of a firm’s pay structure revision, issues to do with inflation and the value of a country’s currency are at times not put into consideration. This occurs in such a way that, as much as the pay is increased it fails to add value due to the cost of living. The salary surveys taken are at times done on a random basis and not fully competent in the industry but their overall result has to be incorporated in the firm. During implementation of programs that enhance employee wellness and safety, the criterion of merit keeps on shifting from time to time and as such some employees are forced to seek their own medical attention and insurance cover especially when it is decided that such benefits will not be given to all the employees (Guerin & DelPo, 2009).

International Economics Trade And Tariffs - Free Essay Example

Sample details Pages: 9 Words: 2638 Downloads: 10 Date added: 2017/06/26 Category Statistics Essay Did you like this example? INTRODUCTION: International economics is becoming a major part of existing societies because of the rapid changes occurring in economic markets. As days are passing by, governments, consumers, business etc have started realizing that this economic change from their own group, society, city or country is not the only region ità ¢Ã¢â€š ¬Ã¢â€ž ¢s the effect of the dynamic world which is taking part as well. Consumers walk in the local shops and buy products grown in their own country as well as products grown in other countries. Don’t waste time! Our writers will create an original "International Economics Trade And Tariffs" essay for you Create order Local businesses have to compete with international markets and similarly they can bolster their fair share by selling their home grown products internationally as well in this Global time. Advancement of Telecommunications is becoming a key factor in this global world as it eases the cost of delivering products internationally. Internet is playing its part as it increases the wide view of markets even more. Easiest way to understand the rising of international economic growth is to consider the growth of exports in the past 50 years or so, assuming that one countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s export would definitely be another countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s import; one can easily tell the significant amount of rise in the exports and imports in the past 50 years. World Exports, 1948à ¢Ã¢â€š ¬Ã¢â‚¬Å"2008 (in Billions of U.S. Dollars) On the other hand, growth in the value of exports, itself, doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t show the importance of trade. A better method is to look at the share of traded goods in relation to the size of the world economy shows world exports as a percentage of the world gross domestic product (GDP) for the years 1970 to 2008. World exports which were just 10 percent in 1970 took its time till 2008 but the percentage grew from 10% to 30%. World Exports, 1970à ¢Ã¢â€š ¬Ã¢â‚¬Å"2008 (Percentage of World GDP) However, as the growth in International trade and investment became more significant, trade barriers started moving steadily downwards. Just after the World War era, GATT (General Agreement on Tariffs and Trade) constantly tried to convince the member countries to reduce tariffs (import tax) on imported goods. Countries kept on reducing the tax on imports asking for concession in import tax for their products among the member countries until the final round of meeting which is known as Uruguay Round held recently in 1994 where Global Trade Liberalization extended its sphere even more. After that round countries would now not only lower their tariff rates but would liberalize agricultural and services sectors alongside setting up a quota system for the multifibre agreement in clothing sector which was one of the hottest issue in the earlier era. WTO (World Trade Organization) was established in order to keep these agreements improving on regular terms and to keep discussing on further development in Trade sector and to settle down the disputes among the countries on trade. By the end of 2009, there were 153 member countries of WTO à ¢Ã¢â€š ¬Ã…“Trade Liberalization Clubà ¢Ã¢â€š ¬?, and many others are pushing to become a part of WTO. This willingness of other countries to join the liberalization club is only making Free Trade phenomena easier. Another good result has come from the regional free trade agreements. Neighbouring countries or close trade partners have taken a step further and started free trading which indicates a better future for WTO and even though it is done on the grounds of trade it still resembles the basic ideology of WTO. These changes in economic patterns and a new way towards free trading is becoming a fundamental bridge for Globalization. Globalization means social, economic, cultural and environmental changes which are connecting people all over the world. Since the growing economics aspects of globalization, it is really important to understand the affects of global market over business, consumers and governments. This leads us to study International Economics. LITERATURE REVIEW: What is International Economics? International Economics is the study that assesses the propositions of International Trade, International Finance and International Lending and Borrowing. It has two major subfields, International Trade and International Finance. Our main focus in this research is over International Trade. What is International Trade? International Trade is a field in economics which implements certain economic models in order to assess international economy. It basically works on understanding supply and demand breakdown of International Markets; firm and consumer relation; oligopolistic and monopolistic market structures; and the effects of market distortions. What is Tariff? Tariff is the tax on import that a government imposes on imported goods. It is the most common way to protect oneà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy is to introduce tariffs on imports. Sometimes this term tariff is used in different contexts as well for example rail road tariffs but generally more significantly used in tax on imports. Tariffs are the most common way to generate revenue for the government for centuries. It is the case because it is relatively easy to put custom duty on goods coming from other countries and administratively it is one of the easiest ways to collect tax. Countries simply place their officials at their borders and apply custom duty over the trading goods. High value of tariffs may give birth to smuggling and people finding ways to get their goods without paying taxes but even ignoring the fact that smuggling does take place, countries generate enough revenue for their governments through tariffs. Every business man wants the trade to be liberalized, by this trade liberalization they mean to reduce the tariffs which will make them bring international goods in a cheaper price. Governments resist reducing the tariffs to protect their home grown goods, if international products would come cheap, businesses would have option to get imported products resulting in deduction in home grown products which leads to job hazard or unemployment. Protectionism? Protectionism simply means protecting home grown goods against imported goods. High tariffs indicates the protection towards home grown products as if the tariffs would be low, businesses would be encouraged to get more goods from international markets rather than home grown goods. There was a time in mid 20th century when countries used to generate funds for governments by keeping high tariffs on imports. However as trade liberalization took place, other types of non-tariff barriers came into existence as well. RECENT TRADE CONTROVERSIES: In the middle of 2009, world was down to the biggest economic down pull since the early 1980à ¢Ã¢â€š ¬Ã¢â€ž ¢s. Economic growth was going down and the unemployment all over was rising. International trade fell down all over the world and the investment both domestically and internationally took a downturn. As the economic condition unfolded, there was a similarity between this recession and the Great Depression of 1930à ¢Ã¢â€š ¬Ã¢â€ž ¢s. One of the biggest concerns was that countries might turn back to protectionism to raise job opportunities for domestic workers. That is exactly what countries did during the period of Great Depression and it came up as a negative effect for many of them. This amplitude of negative feeling is nothing new in this current era as it has been coming since the Great Depression between the supporters and opponents of the trade liberalization on Policymaking. Even though trade advocates have successfully opened free trade markets, trade opponents have als o been successful in shutting down trade markets. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s like going three steps forward and coming back 2 steps. AMBIVILENCE ABOUT GLOBALIZATION: Realistically speaking, ambivalence about trade and globalization occurred in decade of 1990à ¢Ã¢â€š ¬Ã¢â€ž ¢s and 2000à ¢Ã¢â€š ¬Ã¢â€ž ¢s. Even though in this period there was a buzz of protests and opposition about free trade theories and going global, this was the time when remarkable movements of freer trade occurred. Trade Liberalization was at its peak in 1980à ¢Ã¢â€š ¬Ã¢â€ž ¢s. Major success of some of the countries that had outward-economies like South Korea, Hong Kong, Singapore, Taiwan etcà ¢Ã¢â€š ¬Ã‚ ¦ linked with the countries which were having inward-economies such as Latin America, Africa, India, and elsewhere led to a resurgence of support for trade. Future of trade liberalization is in the hands of time for now, it seems like if this crises is to be ended soon then we might see trade liberalization going to its peak again, but if it continued for a longer period of time, then countries might adopt protectionism in order to raise work for domestic worker which would be a killer for trade liberalization for some time to come. Economic crises have led in favor of protectionism in the past but that protectionism didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t bolster the economies, it rather did little good and worst the effect of depression as can be understood by the period of Great Depression. Current scenario may have little hopes for trade liberalization as history is opting to repeat itself. DISCUSSION: The Great Depression, Smoot-Hawley, and the Reciprocal Trade Agreements Act (RTAA): The greatest historical motivator for trade liberalization since the World War II was the period of Great Depression. The disaster apparently began with crash of US Stock Market in late 1929. It imminently pulled the world economy in an extremely rapid pace. By 1930, the US economy had shrink by 8.6 percent and the unemployment rate jumped to 8.9 percent. With this contraction, came an alarming call for protectionism for domestic goods against the internationally bought imported goods. In May 1930, almost 1028 economists signed a petition against the rising tariff and marched a campaign towards President Hoover of that time. Despite of this petition signed by so many economists, in June 1930 came the Smooth-Hawley Act (tariff Act of 1930) which almost rose up to 60 percent of import duties. Due to the fact that not only US was suffering from the economic crises, international exporters who were doing business with US were also suffering from economic crises chose to introduced their own increase in tariffs to save their own domestic economy in retaliation. It effected in a dramatic drop in trade among the countries and added even worst effect to the ongoing depression. In following years, economic crises grew even worst. The US economy continued to contract at double digits and by the year 1933 the unemployment rate raised up to 24.9 percent. In 1932, Franklyn Roosevelt ran for the President and spoke against the high tariffs. By the year 1934 a new scheme accepting the advantages of trade liberalization was introduced. It was Congress that passed the Reciprocal Trade Agreement Acts (RTAA) which allowed the president to negotiate bilateral tariff reduction agreements over different products. It worked as President of US would send his agents to say Mexico and introduce a reduced tariff rates to the products brought in US and in place ask them to reduce tariffs on different set of products that could be taken from US. Once the agreement is done by the government trade could get started. Thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s exactly what happened, and it pushed the wheel for trade again. Over 60 bilateral deals were placed and accepted among different countries under RTAA which set the platform for trade liberalization for decades to come. SIGNIFICANCE OF RTAA: RTAA is considered significant for two reasons. First one has to be that it was the first time US Congress granted access of Trade Authorities directly to the President for the Trade Policymaking. Secondly it served as the basis for the foundation of GATT (General Agreement on Tariffs and Trade). Under GATT countries would also discuss about getting concession in tariffs rather than only doing bilateral trade among the members of GATT. That was the main difference in GATT and RTAA that RTAA only worked in a bilateral Trade form while GATT worked in a multilateral trade form. GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT): What is GATT? General Agreement for Tariffs and Trade (GATT) provided the basic trade rules and solution in dispute over trades among the members from 1948 to 1994. It was one of the three Breton Woods Organizations came into existence after the World War II. Its goal was to promote trade liberalization by reducing high tariffs. In reality, General Agreement for Tariffs and Trade (GATT) wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t meant to be organized as a standalone body. It was a part of a much wider agreement to establish International Trade Organization (ITO). Intentions of ITO were to assign trade rules and supportive guidelines that would help member countries to do trade. The ITO was conceived during the Breton Woods conference attended by the main allied countries in New Hampshire in 1944 and was seen as complementary to two other organizations also conceived there: the International Monetary Fund (IMF) and the World Bank. The IMF would monitor and regulate the international fixed exchange rate system, the World Bank would assist with loans for reconstruction and development, and the ITO would regulate international trade. What was the Goal of GATT? General Agreement on Tariffs and Trade (GATT) as the name suggests consists of the clauses which makes members agree on a similar set of trade policies that suits the trading parties. Basic goal was to introduce some set of rules for trade, that would be helpful in bringing up trade liberalization and thus end up in reducing trade barriers. Countries that make these commitments and sign on to the agreement are called signatory countries. All the discussions that take place before the agreement are referred to as rounds. Each round is given a name according to the location it takes place or to a prominent figure taking place in that round. There were eight rounds of negotiation under the GATT: Geneva Round (1948), Annecy Round (1950), Torque Round (1951), Geneva II Round (1956), Dillon Round (1962), Kennedy Round (1967), Tokyo Round (1979), and Uruguay Round (1994) The most important note was that agreements were made by mutual consent. A round finishes only when every negotiating country is satisfied with the promises it and all of its negotiating partners are making. The slogan sometimes used is à ¢Ã¢â€š ¬Ã…“Nothing Is Agreed until Everything Is Agreed.à ¢Ã¢â€š ¬? WORLD TRADE ORGANIZATION (WTO): World Trade Organization (WTO) was established to Liberalize International Trade and supervises some set rules. It actually replaced the work done by General Agreement on Tariffs and Trade (GATT). WTO was established in January 1 1995 under the Marrakech Agreement. Its goals are exactly the same as of (GATT) to promote trade liberalization. It is relatively a small body based in Geneva having a director general and a small staff of economists, lawyers and others. WTO is sometimes taken as a Trade Law making body, and that is wrong, because it doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t make any trade laws. It follows the set of rules described in Uruguay Round and each country has to decide their own trade rules. What it does is, it settles down the negotiations between the member countries and solves the disputes as it may require. Besides monitoring each member countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s trade policies, which the WTO fulfils by conducting periodic trade policy reviews of the member countries, the WTO club was also created to deal with disputes. This is surely the most important à ¢Ã¢â€š ¬Ã…“powerà ¢Ã¢â€š ¬? of the WTO. CONCLUSION: Since the WTO began in 1995 there have been over four hundred disputes brought to the DSB. Large number countries have been complainants and defendants although the two countries most often on one side or the other are the United States and the EU. Some of the most well-known disputes have involved bananas, steel, hormone-treated beef, and commercial aircraft. Lesser-known cases have involved narrow product groups such as Circular Welded Carbon Quality Line Pipe, Canned Tuna with Soybean Oil, Combed Cotton Yarn, and Retreaded Tires. Traders know better what to expect from their trading partners because their partners have committed themselves to particular trade policies and to a resolution mechanism in the event of noncompliance. In a sense, then, it is true that the WTO agreements restrict the freedom of a country to set whatever trade policy it deems appropriate for the moment. That loss of sovereignty, though, is designed to prevent countries from choosing more destructive protectionist policiesà ¢Ã¢â€š ¬Ã¢â‚¬ policies that are very seductive to voters, especially in an economic crisis. If successful, the WTO could prevent a reoccurrence of Smoot-Hawley and its aftermath both now and in the future.