The World Bank Essay Paper

 Section 1.

Question 1.

The World Bank was established in 1944 after the Bretton Woods Agreement that was secured under the UN after the Second World War. The initial goal of the World Bank and the IMF was to support both the Asian and European countries that required financing to fund the efforts of the post-war reconstruction. Therefore, the World Bank offers technical and financial assistance to developing countries all over the world.

The IMF was also established in the same year as the World Bank, with approximately 190 members in Washington. Its primary purpose was to offer stability for the monetary framework internationally. The IMF also has a provision for fixed exchange rates among the member countries. Therefore, the future role of this body may vary because of the changing global financial requirements that prevail. The organization helps to monitor the economic and fiscal policies of its members.

The WTO started its operations in 1995. However, the trading system of this body is over half a century older. The GATT, General Agreement on Tariffs and Trade had given out the rules that the system has to follow since 1948. This body has expanded the definition of trade, and it includes intellectual properties and services as well as coming up with new procedures that would help to solve disputes. The body helps to make sure that trade flows smoothly, predictably, and smoothly.

Section 2

Question 3.

The three research administrative approaches include deductive, inductive, and abductive research approach. The deductive research approach relates to developing hypotheses that are based on the existing theories and coming up with research strategies that help to test the hypotheses. The inductive research approach begins with the theories and observations that are proposed when the research ends because of the observations. The Abductive research approach addresses the weakness that relates to both inductive and deductive approaches.

The three research instruments include questionnaires, interviews, and achievement tests. Questionnaires include both structured and unstructured questions. They are used when the results are expected to be confidential. The interviews can also be structured or unstructured, and it can also be over the phone when the interviewee is far and cannot make a one on one meeting. Achievement tests are used in schools, and they help to determine the performance of students.

The first challenge of collecting data is maintaining the confidentiality and privacy of the participants. For instance, when there are many interviewees, and they have to be interviewed at the same time, they may know the answers that their fellow interviews gave, and this infringes the privacy that they would have enjoyed. Another challenge is the logistical issues, where it would be difficult to ascertain the answers that were collected from particular participants, especially when there were many participants. The researcher had to go to many places. At times, the information is often bulky, and arranging it may be a problem. These challenges are shared with the marketers because they pass through the same experiences of logistical issues that they have to deal with at all times.

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