Crypto Currency takeover Fiat Currency

Sample Solution

Crypto Currency takeover Fiat Currency Cryptocurrencies are becoming a global phenomenon amidst talk that they could replace fiat currencies in the near future. In 2018, the famous futurologist made a prediction that cryptocurrencies are to replace 25% of fiat assets by 2030. Morgan Creek Capital Management and its analysts also stated that fiat would be replaced entirely by cryptocurrencies in the future. A cryptocurrency is a form of digital or virtual currency that can work as a medium of exchange. Fiat money is a kind of currency, issued by the government and regulated by a central authority such as a central bank. Cryptocurrencies adoption continues to gain momentum in part because of the world`s progression towards a cashless society. The fact that some people, nowadays, transact through electronic money continues to affirm suggestions that cryptocurrencies could be currencies for the future.

maximally with the available resources. In non-business enterprises like in accounting departments, the managers are not accountable for the entire business profits as. Managers have goals and should enforce towards accomplishing them with the small available resources. Such managers are said to be strategic managers. General administration theory in the modern-day management ensures the managers are productive. Government and private sectors recognize the vital need of productivity improvement. Productivity improvement deals with effective performance of the basic non-managerial and managerial activities. Productivity is the output-input ration in a certain period of time with due consideration of equality. Finally, productivity entails efficiency and effectiveness among individuals and organizational operations.

Investigation

Managers are accountable in the taking of actions that ensure the personnel perform maximally to group objectives. Thus, general administration theory in the modern-day management applies to large and small organizations, profit and non-profit enterprises, manufacturing and also to service industries. However, in certain situations there is considerable difference in several levels in organization or in a variety of enterprises. The extent of authority may differ and the kinds of problems being dealt with can be somehow different. All the managers get their outcome by set up an environment for effective group enterprise. Moreover, all the managers perform their managerial function although time spent for each could be different. That means top-level managers use more time during planning and organizing compared to lower-level managers. On the other hand, leading takes big deal of time for the first line supervisors though the difference of time spent during controlling varies slightly for managers in various levels. Manager is thus, the dynamic and life-giving element in all businesses. In devoid of managers leadership, resources of production just remain unutilized and never become productive (Samuel C, 1989). General administration theory in the modern-day management has thus a big impact as in a competitive economy, quality and performance of mana