Saudi Oil and Global Economic

Saudi Arabia is one of the most developed countries in the Arab world, after United Arab Emirates. The stability of Saudi economy is solely dependent on its oil industry. This implies that most of her wealth has been earned from her trade in oil and other petroleum products. This paper will focus on how the production of oil can affect the world economy. This is because of all the volumes produced in the whole world; most of it comes from this Arabian country.Advertising We will write a custom essay sample on Saudi Oil and Global Economic specifically for you for only $16.05 $11/page Learn More Yizraeli argues that there are many countries that produce oil, including the US and other European countries, but the highest output is derived from Saudi Arabia (58). Before the oil crisis that happened back in 1973, the oil industry was dominated by western countries, but when the crisis ended, Saudi Arabia benefited the most because it has very large volumes o f oil in its fields. The impacts of oil production in Saudi Arabia can only be understood after one understands the importance of oil in the world. Oil is a form of energy that is used in most industries to power equipments such as in the agriculture and transport sectors. In fact, industrialization would not have been realized without oil because it was the most reliable source of energy back then. At the moment, the economy of Saudi Arabia relies on oil production, but a plan is in the pipeline to diversify this economy in such a way that other economic activities such as agriculture will also be incorporated in the economy. One is left to wonder if this initiative is necessary, considering that the volume of oil production of Saudi Arabia has been on the upward trend since 1997.With this notion in mind the world expects the economy to remain stable due to the increase in oil production (Cordesman 465). The above mentioned initiative has been induced by the changes in the oil mark et where the oil is at risk of being replaced by other sources of energy such as nuclear and green energy. The need of developing alternative source of energy has been prompted by international bodies that argue that oil has negative effects on the environment that could cause global warming due to the toxicity of carbon dioxide that is emitted during combustion of oil products (Yizraeli 59). In response to environmental concerns, the world is already resorting to use green energy because it does not have any harmful effects on the environment. Besides, green energy can never be exhausted compared to oil deposits. However, Mason asserts that the shift from the use of oil is a gradual one and if Saudi Arabia was to reduce its participation in the oil trade, there would be a very big gap in the global economy caused by her action. This is because it is estimated that 25% of oil reserves are in Saudi Arabia and this is a big margin that cannot be suppressed by the other major oil produ cing countries.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The exit of Saudi Arabia from the oil market would cause the global economy to decline. This is due to the fact that the supply of oil would be very little compared to the ever growing demand of energy. This happening would cause the price of oil to hike and only the countries that produce it in large volume would benefit. However, this scenario is far from being experienced because its speculated that Saudi’s dominance of the oil market will end in future. This is because new oil deposits have already been discovered in other countries such as Iraq and West African countries such as Democratic Republic of Congo and Nigeria (Yizraeli 59). If the production of oil was increased due to emergence of new oil producers, the price of oil in the world would come down. This argument can be best explained by analyzing the concept s of demand and supply, which are used to determine commodity prices. The increase in oil production would cause investments to increase and thus, the world economy would stabilize. In the last few decades, Saudi has continued to influence the world economy by commanding the prices at which oil will be traded. However, technological advancement has come to end this era of Saudi sovereignty in the oil market. This is because in the past there was no reliable technology that could be used to discover oil fields, but nowadays the same technology has been developed to suit our needs; that is why more oil fields are being discovered every other day. Furthermore, lack of technology hindered the exploration of oil fields, but technology has already mended that gap because it has made it possible to access areas that could not be exploited. Thus, there is reduction in the cost of extracting natural resources. Likewise, the western nations are the major consumers of oil and Saudi has aligned itself to become the permanent supplier of oil to these nations. But according to Cordesman, this current position is subject to time because as newer sources of oil continue to be discovered, the competition for customers will stiffen (465). It is certain that Saudi Arabia will loose its dominance in the oil market, but on the other hand, it will continue to be an influential element in the global economy. This is because the new oil fields will require a lot of time to establish themselves as reliable oil sources because most of these unexploited fields lie in war torn areas. The issue of insecurity will have to be solved before hand to create a favorable environment for the mining process to commence.Advertising We will write a custom essay sample on Saudi Oil and Global Economic specifically for you for only $16.05 $11/page Learn More There is a possibility that the US will not be allowed to venture into the oil trade in Iraq and Iran due to the fl aws that exist between the three parties. This implies that the other members of G8 countries will have to combine their efforts to extract oil from these two nations. In such a case Saudi Arabia oil will remain confined in the Asian continent. In conclusion, Saudi Arabia will have to review its oil prices for it to cope with the emerging trends. In fact, the hike in oil prices is what has induced most nations to go for alternative sources of energy. Most people think that the issue of pollution is the major contributor towards this move, but this is not true because most manufacturers have made sure that their products that are powered by petroleum products combust it to a magnitude that only small amounts of carbon are emitted. Works Cited Cordesman, Anthony. Saudi Arabia Enters Twenty First Century. Westport: CT: Greenwood Publishing, 2003. Print. Mason, Rowena. Saudi Arabia Worried High Prices Will Hit Global Economy. The Telegraph. 26 Apr. 2011. Web. https://www.telegraph.co.uk /finance/oilprices/8473411/Saudi-Arabia-worried-high-oil-prices-will-hit-global-economy.html Yizraeli, Sarah. â€Å"How Important is Saudi Oil?† The Middle East Quarterly 2.1 (2000): 57-64. Print. This essay on Saudi Oil and Global Economic was written and submitted by user Sp1der-Ham to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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About Sensation, Perception, and Attention

About Sensation, Perception, and Attention Free Online Research Papers Key factors in mental processes and interpreting different experiences deal with sensation, perception, and attention. There is a certain amount of stimuli that each of us can handle before we are unable to perform in a productive manner. We have explored each individual’s limits to auditory stimuli along with the ability to perform in a specific setting. The majority of our team can handle a great deal of stimuli when participating in various activities. There can be noises of every sort, and it will not distract them in what they are in the process of completing or participating in. The ability to multi-task allows us to handle various stimuli at once. It also allows us to handle many tasks we are obligated to uphold throughout our busy lives. On the other side of the spectrum, there are also team members who can only study or complete specific tasks when there is little to no noise. These individuals can only handle a limited amount of stimuli or they will not be able to pe rform at maximum capacity. We will further discuss the different experiences and comfort levels of each team member, and how dividing attention will facilitate or impede our learning abilities. Our team has seemed to have adapted to our environments and have similar ways to dealing with noise going on around us. Take Luz for instance, she grew up in a home where everyone yelled to communicate. When she moved away her household was quieter, and she grew accustomed to living in a more serene environment. She is not able to distinguish different conversations at once and is more comfortable in a quiet environment. Christina’s normal environment has loud noises and she can continue with her activities relatively well with loud noise. Her activities include working while listening to other activities going on around her. At home, she can complete her schoolwork although the children play. Christina can tune out noise and continue to work without allowing herself to be distracted. Nicole was told as a child to keep from being quiet in the house so that her sister would adapt to noises while she was sleeping. She can hold multiple conversations while the television is on, the dog barking, and the children acting as children. Nicole seems to need some noise to sleep whether it is a television, radio, a train moving on the track, or an airplane flying overhead. Catherine also needs noise to complete her tasks. She works in an environment in which there are people taking orders, asking for assistance, and warnings of food coming through. She could be distracted by the quiet of her house. Catherine needs music or the television on to sleep. Towanda needs to concentrate on her tasks. She has to be stress free or only have minimal stress to accomplish her homework. Towanda can listen to multiple conversations and share that information with others. Patricia can multi-task and carry more than one conversation at a time. If she wants to eaves drop on more than one conv ersation, she has to concentrate rather hard. She can handle loud situations but if she is going to comprehend it all she has to concentrate. Dividing attention between people can affect people differently. Some people can multitask several things at a time. Whereas others need the area there in to be quiet, so they do not lose their concentration. As far as team C, the majority of us, have many activities going on at once and the threshold for audio stimuli is very high. However, we also had a team member who preferred their environment to be calm and quiet, this worked well for her and her family. When developing a conversation with someone and not giving him or her one’s undivided attention, you will be missing something he or she tells you even if you are a multi-task kind of a person. In addition, when taking part in a conversation one must make the person one is conversing with feel as they are valued. Undivided attention entails good eye contact, minimal or no distractions, listening to the person speaking and waiting to speak once the person has spoken their part. Undivided attention also goes hand in hand w ith proper interpersonal skills. These skills allow one to properly communicate with others without offending them in any manner. Proper interpersonal skills must also be utilized when giving negative feedback. In order to properly converse and collaborate with others undivided attention and proper interpersonal skills are imperative regardless of one’s tolerance level for stimuli. Not only can dividing attention facilitate or impede the team. It can put so much stress on someone that is not used to experiencing this kind of situation. While we have not had a conference call between the team, I am sure if we do, the team will have a quiet atmosphere for that we want to make sure that we can hear each other and give each other our full attention. While most of the team can handle more than one thing at a time, we need to respect anyone that does not want the distractions. Perception is the process of attaining understanding or awareness of sensory information. Sensory perception problems arise because of several factors such as stress, background noise, medical issues, and the level of interest for the subject matter; all of these items affect cognition and learning of information. The stress level of each team member highly affects the individual’s ability to intake information and retain it. If a team member has, a low tolerance for background noise while trying to take in information this could impede his or her ability to concentrate on the information being discussed. Medical issues such as hearing or sight impairments would definitely have an impact on absorbing information that is discussed. The level of interest for the subject matter would also positively affect or negatively impede the progress of a group assignment. When a person takes away something from a situation in which something entirely different was meant, sensory perception has been misconstrued and alternately interpreted. Many factors could contribute to the misunderstanding of information but attempting to be completely focused could alleviate many misunderstandings. A Learning team has members who may perceive and interpret information differently. However, to work and communicate effectively in a team, the members involved must be able to function together to complete assigned projects. Therefore, learning team members have different needs and recommendation on ground rules. When it deals with accommodating auditory sensation, perceptions and attention when learning during group meetings, especially since the learning team is attending classes online and communicated about class projects via Internet. Prepare ourselves for conference calls when assigned projects are due, and each team member should be well prepared, organized, and minimize or avoid distractions when team meeting is in progress. The team members should take care of all daily needs before the meeting begins to avoid interruptions and to stay attentive, so that he or she can take down accurately notes to understand all the information that was shared during the team meetings. Duri ng the learning team meetings, the work environment or area a person is conducting his or her meeting through conference call should be quiet, without the sounds of music television, family disturbance, or ringing sounds of another phone. Each member should be able to give his or her undivided attention, so he or she can hear all barriers communication given as well as avoid distracting other members involved. Another way team members can communicate is through instant messaging; considering some team members have many background sounds going at once in their homes. The conversation one has through instant message can also serve as notes for an assignment. This way to track a dialogue will allow team members to keep a log of conversations offline or although they are away from a personal computer. Another major ground rule is that team members must also be flexible and understanding toward others lifestyles and obligations. It is imperative that we communicate properly in order for the learning team meeting to be productive. We all have many obligations that must be fulfilled throughout our day therefore; we have to accommodate one another. At one point or another, we will have an issue come up that will not allow our auditory sensation, perception, and attention to be used to the best of their ability. We do not all have the same schedules and availabilities therefore we must always exerc ise flexibility. However, during team meetings all members will be respectful and identify superior communication skills by listening and allowing all members to share thoughts and ideas, and hear what each member has to say without interruptions. The learning team will listen and pay attention to each team member’s needs, differences, strengths, and weaknesses to provide appropriate feedback in a positive tone when needed. Effective communication along with effective listening will allow team members to produce better quality assignments. It is inevitable for a group of people to disagree on certain subjects but professionals will disagree in a tasteful manner. Great communication skills allow team members to give constructive criticism as well as receive the constructive criticism. Therefore, at the end of all team meetings conference calls or forum discussions the team leader would summarize all information discussed, so that all members understand the topics discussed, and the plans, and g oals of the whole learning team. However, each team member involvement and understanding the team projects will result in a successful and positive manner as well as the team effective communication skills will be noticeable. In conclusion, we all have different learning abilities and are able to work better with or without noise. The majority of us are used to different activities surrounding us while participating in schoolwork, work projects, and our simple everyday duties. We know how adapt to different environments to achieve what we need to. We also have respect for one another to the fact that if in a group conversation or conference call that we will give our undivided attention as well as keep a noise free environment. Each of us understand the stress levels that we have and are able to work around if needed. All of us are great communicators and are able to achieve the goals that we need to regardless of the situation that we are in. Research Papers on About Sensation, Perception, and AttentionStandardized TestingBionic Assembly System: A New Concept of SelfThe Project Managment Office SystemThe Spring and AutumnRelationship between Media Coverage and Social andThree Concepts of PsychodynamicResearch Process Part OneOpen Architechture a white paperEffects of Television Violence on ChildrenGenetic Engineering

Team Building 3 Term Paper Example | Topics and Well Written Essays - 750 words

Team Building 3 - Term Paper Example However, there are a number of various exercises that help to minimize conflicts and get ready to them (Schellenberg, 1996). One of the best team-building exercises to avoid conflicts is a hands-in exercise that helps to distinguish a workplace incivility. It is entitled Are You Part of the Problem? To do this exercise the participants are to answer eight questions and then analyze the results. The questions are the following ones: 1) Did you pay little attention to the information given by someone else or demonstrate little interest in his/her point of view? 2) Did you make demeaning, derogatory or rude remarks about some person? 3) Did you make any unwanted attempts to draw some person into a discussion of any personal issues? 4) Did you make fun of someone at work? 5) Did you make any religious, ethnic or racial jokes at work? 6) Did you curse someone at work? 7) Did you publicly embarrass some person at work? 8) Did you play a mean prank on someone at work? It is recommended to d o this exercise with all employees in the end of every year. This gives an opportunity to analyze the relationship between people and the probability of conflict situations. It is necessary to prepare the cards with questions for this exercise. Each card should include the above-mentioned questions and a scheme for points. It may be printed the following way: Never Often 1 – 2 – 3 – 4 – 5 The employees should choose one point for each question and then draw conclusions. The results may be the following ones: 8-16 means good organizational citizen 17-31 – careful, one’s mean streak is showing 32-40 – there is a real social porcupine The above-mentioned exercise is also very helpful if it is necessary to find out if there are any personal conflicts at work. It is rather important to do that as such conflicts prevent people from working more successfully. Moreover, according to statistics, there are about four hundred twenty various psyc hological disorders that may cause conflicts at work. So, the necessity of the above-mentioned exercise is evident. However, it is not very easy to make it a part of team work. That is why it is also important to create some plan or strategy to apply the exercise and motivate very employee to take an active part in it. Every person should understand that he/she should test his/her disposition to conflict situations at work. I suggest the following plan for applying an exercise suggested above. 1) The first thing to do is to prepare an exercise. So, it is necessary to create cards, print questions and scale for analyzing the results on them. It is better to use bright colours to make cards, because this will help to establish friendly atmosphere during answering the questions. 2) Then, it is necessary to prepare the employees to the exercise. This cannot be done spontaneously. People should know when and how they will take part in interrogations. Moreover, they should be aware of the purpose and necessity of the things done by them. So, the employees and the one who is in charge of doing an exercise should have a talk in order to capture the people’s attention to the exercise. 3) It is important to deliver a lecture about conflict before doing an exercise. This will help to understand that it is important to