In times of crisis, such as the one currently experienced in Europe, Assignment

In times of crisis, such as the one currently experienced in Europe, new ideas of how to manage and organise are required for - Assignment Example In this situation, it becomes important to create new organizations and create new jobs in order to sustain. The report will discuss about the global economic crisis and its impact on the national economies of the nations. In this context it will specifically highlight the Euro crisis and its impact on the affected countries. It will also emphasize the importance of new company establishments and job creation in a country. The report will also shed light on how individuals influence the management practices of an organization. Finally the report will conclude stating the extent to which an individual impacts in company establishment and management practices. Introduction During the last 15 years, countries around the world have been able to make impressive advancement and historical transformations in their economical policies. With rapid globalization and based on the institutional establishments nations have been successful in building up effervescent private sector. It has also le d the countries to participate in international trade (Rutkowski and Scarpetta, 2005, p.xiii). The economic growth has in turn helped the nations to reduce the level of poverty as well as brought higher incomes. However the global economic downturn has disrupted the growth process and clearly indicated that no economic policy is stable enough to face economic crisis. Many scholars thus highlighted that it is important for the nations to focus on reforming the financials of a country. In this context a number of scholars have highlighted that financials of a country can be best reformed by creating new business ventures and thereby creating new jobs. According to Global Entrepreneur Monitor (GEM) around the world there are 200 million who are engaged in the creation of new jobs. There are another 200 million people who are the managers or owners of newly established firms. The study was carried out in 75 countries of the world and which covered nearly 80% of the total population of t he world (Reynolds and Curtin, 2010, p.1). The focus of the project will be therefore based upon the issue of how creation of new business and jobs will aid a nation to embrace economic growth. The intentions of the projects will be also to uncover how new business and jobs will be created and sustained during the crisis periods. The next half of the project will discuss all the relevant theories as well as the earlier literatures from the same field of study. Discussion In the recent past one of the major economic crisis occurred in Europe, which is also known as the Euro Crisis. It is an ongoing financial emergency that has caused difficulties for a number of countries in Europe to refinance the debt of their Government. This economic catastrophe has impacted the Euro economy to a large extant. Countries such as Greece, Portugal, Italy, Ireland and Spain or collectively known as GIIPS were the major sufferers. It has actually destroyed the economies of European Union. A number of reasons have been highlighted regarding the cause of this economical turbulence. The Euro Crisis In Europe there