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In Japan the luxury market decreased by 9% over the past two years. In Europe, however, which represents about 38% of the global luxury market, the industry turned in record growth in 2007. This slowed in 2008, but leveled out in 2009. In the U.. we saw a 4% growth in 2007, but the luxury market is expected to be flat this year (Krauss, 2008).
Besides the emphasis on value rather than pure bling, as we have discussed, the luxury industry has a decided focus on customer service. Ultra-treatment for the ultra-rich customer is what's in during the economic turndown. Treating their core customers with even more pampering than usual and retaining that business is key, according to luxury marketing experts.
Expansion into new, developing luxury markets such as Brazil, Russia, India, and China is another emphasis. What the luxury market will probably not do is expand the product line…
Sullivan, L. (2009, March). Luxury goes back to its roots. Retrieved September 9, 2009, from synovate.com: http://www.synovate.com/changeagent/index.php/site/full_story/luxury_goes_back_to_its_roots/
Unity Marketing. (2009, July 24). Affluent Consumer Confidence Bouncing Back and Luxury Consumer Spending was up Over Same Period Last Year. Retrieved September 9, 2009, from marketwire.com: http://www.marketwire.com/press-release/Unity-Marketing-1021762.html
Wood, L. (2009, April 29). Research and Markets: The Impact of the Global Economic Downturn on the UAE Consumer Retail Sector. Retrieved September 9, 2009, from Reuters.com: http://www.reuters.com/article/pressRelease/idUS188524+28-Apr-2009+BW20090428
U.S. economic downturn has made many states in the United States to implement strategies to boost economic developments of their respective states using different economic incentives to attract investors. Recognizing the needs to be competitive nationally and globally, New Jersey legislative house has sponsored the "New Jersey Economic Opportunity Act II of 2013" with the aim of fostering an economic development in the state. The goal of Economic Opportunity Act is to improve the panoply of economic incentives to encourage companies in the United States and outside the United States to invest in the state to boost employment opportunities and revenues of the state.
Several states in the United States have also implemented similar programs to enhance economic growth. Example of these states includes Wisconsin, North Carolina, Missouri and Mississippi. Missouri used the UILD (usiness Use Incentives for Large-scale Development) to stimulate 1,410 permanent jobs in 2011 fiscal year. Few…
Bartik, J. Timothy. "Business Location Decisions in the United States: Estimates of the Effects of Unionization, Taxes, and Other Characteristics of States," Journal of Business & Economic Statistics, 3(1), (1985):14-22.
Buss, Terry, F. The Effect of State Tax Incentives on Economic Growth and Firm Location Decisions: An Overview of the Literature. Economic Development Quarterly, 15(1985): 90.
Chirinko, Robert .S., and Wilson, Daniel.J. Job Creation Tax Credits and Job Growth: Whether, When, and Where? Department of Finance, University of Hall. Chicago Penguin 2010.
Claudio, Nogueira and Gondim, Andre. Modern Economy, 3(5), (2012) 608-616.
Proctor and Gamble is a global company that produces various products sold around the world. It is a Fortune 500 company and ranks consistently among the top 10 companies in the U.S. in terms of sales. The product chosen for this study is Head and Shoulders, a dandruff shampoo that constitutes 23% of net earnings in the beauty care segment for P&G per annum (P&G Investor, 2015). With sales of more than $80,000,000 for the company, Head and Shoulders is a significant product mover.
GDP growth in the U.S. has been stagnant over recent years and therefore P&G has had to look overseas in order to grow its market. However, with global recession likely to occur in the coming months and years, the predicament of P&G does not look positive unless it can penetrate and maintain market share in developing nations.
Unemployment in the U.S. is also higher…
Durden, T. (2016). Markets around the world are crashing; gold soars. ZeroHedge.
Retrieved from http://www.zerohedge.com/news/2016-02-11/markets-around-world-are-crashing-gold-soars
P&G Investor. (2015). Annual Report. Retrieved from http://www.pginvestor.com/interactive/lookandfeel/4004124/PG_Annual_Report_2014.pdf
These include: the European Union, China, India, and Japan. Clearly, what many Americans perceive to be simply an economic problem in the United States, has far reaching effects around the globe.
Barba, R. "Centra Returns TARP Money." American Banker 173(65) 6 Apr 2009: p. 4. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Crain, K. "It's All About Saving an Industry." Automotive News. 83(6348) 23 Feb 2009: p. 12. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Fajt, M. "Iberiabank to Give TARP Infusion Back." American Banker 174(39) 27 Feb 2009: p. 20. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Marino, J. "Red Planet." The Dealmaker's Journal. 44(4) Apr 2009: p. 38-65. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
McGreer, B. & Barba, R. "Here's Your…
Barba, R. "Centra Returns TARP Money." American Banker 173(65) 6 Apr 2009: p. 4. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Crain, K. "It's All About Saving an Industry." Automotive News. 83(6348) 23 Feb 2009: p. 12. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Fajt, M. "Iberiabank to Give TARP Infusion Back." American Banker 174(39) 27 Feb 2009: p. 20. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Marino, J. "Red Planet." The Dealmaker's Journal. 44(4) Apr 2009: p. 38-65. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. 27 Apr 2009 .
Industy analysts pedict that moe touble lies ahead fo the mining industy in Austalia as well, but given its poduction of many of the wold's stategic mineal esouces that ae needed fo a wide ange of industial pocesses, it is likely just a matte of time befoe companies such as Rio Tinto witness a esumption of demand by its majo expot patnes in the futue.
Austalia. (2009). U.S. govenment: CIA wold factbook. [Online]. Available: https://www.cia.
The Austalian mineals industy and the Austalian economy. (2009). Mineals Council of Austalia. [Online]. Available: http://www.mineals.og.au/__data/assets/pdf_file/
Austalian mining industy diminished by almost 5% in 2008. (2009). Coobe Pedy Regional
Times. [Online]. Available: http://coobepedyegionaltimes.wodpess.com/
Condie, B. (2007, July 10). BHP and Blackstone may link fo 20 billion pound ALCOA bid. The Evening Standad (London), 29.
Messenge, J.C. (2004). Woking time and wokes' pefeences in industialized counties:
Finding the balance. New Yok: Routledge.…
references in industrialized countries:
Finding the balance. New York: Routledge.
Mol, T. (2002, October). An accident theory that ties safety and productivity together.
Occupational Hazards, 64(10), 89-90.
Mudrooroo, W. (1999). Mining the earth without minding the Earth. World Literature Today,
Each of the four economies studied suffered somewhat from the economic downturn. The differences between the severity and length of recession in each country will inevitably be affected by the structure of that nation's economy and its relationship with the international monetary system. As such, it is important that we analyze the differences between these nations and the ways in which the current economic crisis impacts their economies. e can learn why some countries are comparatively successful at mitigating the impacts of recession, while others suffer more than they probably should given their links to the root of the problem. This insight can help the players in the international monetary system to develop a system in future that is better able to manage the downside impacts of recession.
Zakaria, F. (2009) the Canadian Solution. Newsweek. Retrieved October 23, 2009 from http://www.newsweek.com/id/183670
Flynn, D. (2008). Greece did too…
Zakaria, F. (2009) the Canadian Solution. Newsweek. Retrieved October 23, 2009 from http://www.newsweek.com/id/183670
Flynn, D. (2008). Greece did too little to avoid recession. XPat Athens. Retrieved October 23, 2009 from http://www.xpatathens.com/news/19157
Bahree, M. (2009). Mongolia rolls with the recession. Forbes. Retrieved October 23, 2009 from http://www.forbes.com/2009/09/22/mongolia-mining-rio-markets-emerge-elbegdorj.html
No author. (2009). Is India recession proof? Vilekhari.com. Retrieved October 23, 2009 from http://www.vilekhari.com/business/is-india-recession-proof/
hile the U.S. is only showing the first signs of recovery from the global economic crisis, other nations such as Australia and China have recovered much more quickly. There are a number of factors that have contributed to the disparity in economic performance in the past three years in these different nations. In particular, three factors will be considered. The first is the situation in each country at the outset of the crisis. As the crisis was largely precipitated by a credit crunch, the differences between the structure and regulation of the banking sectors in each country will be given particular attention. The second factor will be the response on the part of each federal government to the crisis. The third factor will be the nature of the different economies -- the degree to which different structures have impacted the recovery process. Lastly, policy implications will be drawn for…
BEA. (2011). National income and product accounts table. Bureau of Economic Analysis. Retrieved March 4, 2011 from http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=1&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Year&FirstYear=2007&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid
Chinability.com. (2010). GDP growth in China 1952-2009. Chinability.com. Retrieved March 4, 2011 from http://www.chinability.com/GDP.htm
Jones, F. (2011). Krugman: Stimulus didn't fail because it never happened. Moneynews.com. Retrieved March 4, 2011 from http://www.moneynews.com/StreetTalk/paul-Krugman-Stimulus-Didnt/2011/02/16/id/386333
Maiden, M. (2009). Australia's banking sector is as strong as a brick outhouse. The Age. Retrieved March 4, 2011 from http://www.theage.com.au/business/australias-banking-sector-is-as-strong-as-a-brick-outhouse-20090506-avdj.html
In order to understand this idea about inventories, it is necessary to understand that if the prices were to change and not be rigid, then it would be the prices and not the inventories that would guide companies in their decisions about production. For example, if prices were increasing, a company would know that their product is popular and that they should increase the production of it. And if the prices were decreasing, the company would know that their product is not selling well and that they should probably reduce its production. In an economy though where the prices are fixed, companies need another way of deciding whether they should increase or decrease production. This is where Keynes came to the conclusion that the key is to observe the changes in the inventories in order to drive production (hat Causes a Recession to be a Recession, n.d.).
Harrison, Edward. "Chart of the Day: Unemployment as a Recession Indicator." 2008. Credit
Writedowns. 7 April 2009
Reddy, Sudeep. "Jobless Rate Hits 8.5%." The Wall street Journal. April 2009
Economic Crisis 2008-2009
This report focuses on the events that took place in the Great crash of 2008-2009. It aims to highlight the events that took place and what the basic factors and events were that eventually led to the economy crashing. It is also a point of focus to determine what effects came about and how different parties were to be blamed for the deregulation that led to the catastrophic events of the crash. It is linked with the policies present at that time i.e. The Monetary Policies outlining the control of money supply and interest rates as well as the Fiscal Policy that focus on the government spending and taxation policies.
The financial crisis refers to a situation whereby there is a contraction of money supply and the amount of wealth in the economy. This is also known as a "credit crunch" whereby participants of the economy lose…
Minkiw, Mc Gregory. (2009). The Financial Crisis and the Economic Downturn of 2008 and
2009. Macro Economics (7th Edition).
Ryan (2008). The 2008-2009 Financial Crisis-Causes and Effects. Cash, Money, Life.
The industrial age was an age of giant, mega corporations that were often bogged down by inefficient and outdated distribution, innovation, and production techniques. y contrast, the information age of the past 20 years or so has brought forth a new business form, a fluid congregation of businesses, sometimes highly structured, sometimes amorphous, that come together on the internet to create value for customers and wealth for their shareholders. This phenomenon has been commonly referred to as "digital capital," "information technology revolution," or "new economy." However, as both the Dow Jones Industrial Average and the Nasdaq soared to historic highs and record volatility in just a few short years, a widespread and quite fundamental disagreement emerged concerning whether or not the high-tech boom was nothing more than one huge bubble.
This paper analyzes and examines the present condition of the United States economy. Part II discusses what phase of…
Bedroussian, Armen, Devol, Ross C., Fogelbach, Frank, Goetz, Nathaniel H., Gonzalez, Ramon, R., and Wong, Perry. "The Impact of September 11 on Metropolitan Economies." January 2002. Retrieved at http://www.milken-inst.org/presrel/NationalMetroImpact Report.pdf on July 21, 2002.
Jordan, Meredith. "Economists: Turnaround in Early 2002." Retrieved at http://atlanta.bizjournals.com/atlanta/stories/2001/07/09/story5.html . onJuly 21, 2002.
Moore, Geoffrey H. Business Cycles, Inflation and Forecasting, 2nd edition, 1983. Ballinger Publishing Co., Cambridge, MA.
EconEd Link." Retrieved at http://www.econedlink.org/datalinks/index.cfmonJuly 21, 2002.
Economics for Business
The company that I am studying is Apple. The company is a designer and marketer of consumer electronics, specifically computers, smartphones, tablets, mp3 players and software. The company has experienced a strong run of great performance in recent years, but it has not always been that way for Apple. The company struggled considerably, especially in the 1990s, before breaking loose. The key thing about Apple is that it has always sought to differentiate itself. Over the course of the past ten years, we have seen most of Apple's former competitors in the personal computer space leave the industry. The reason is that the computer industry is moving towards the strategic hell of perfect competition.
The term strategic hell reflects the condition of perfect competition. In the real world outside of economics textbooks, few markets can be truly understood to be perfectly competitive. Perhaps a vegetable…
Lunden, I. (2013). Android at 82% share, Samsung a flat leader. TechCrunch.. Retrieved November 25, 2013 from http://techcrunch.com/2013/11/14/gartner-456m-phones-sold-in-q3-55-smartphone-android-at-82-share-samsung-a-flat-leader/
Mourdoukoutas, P. (2013). Apple's most important branding lessons for marketers. Forbes Retrieved November 21, 2013 from http://www.forbes.com/sites/panosmourdoukoutas/2013/10/05/apples-most-important-branding-lesson-for-marketers/
MSN Moneycentral. (2013). Apple Inc. MSN Moneycentral. Retrieved November 22, 2013 from http://investing.money.msn.com/investments/stock-income-statement/?symbol=AAPL
Riley, G. (2013). Strategic choice: Apple: Differentiation v scale. Tutor2U.net. Retrieved November 21, 2013 from http://www.tutor2u.net/blog/index.php/business-studies/comments/strategic-choice-apple-differentiation-v-scale
Why does GE finance poorly-rated airlines with its aircraft financing? GE benefits in three ways: (1) its lower cost of capital than the airlines means that it can charge a risk premium, and make more money on the airline debt, (2) it sells aircraft engines and, more critically, spare parts, which are the biggest long-term source of revenue for the company, and (3) the loans are well-collateralized. Even in a bankruptcy procedure, the airlines have relatively little recourse to the assets, and GE would be free to sell or lease the airlines to others. Other leasing companies, while they don't have GE's aircraft engine business, are able to lure tax-advantaged investors (offshore, those receiving tax credits, others) who also give them a lower cost of capital; their expertise in leasing and selling planes, as well as their leverage in pricing negotiations with the major airframe manufacturers gives them an advantage…
Business Week. "Why GE Is Keeping Loser Airlines Aloft." Business Week 7 February 2005: n.p.
Francisco, Federal Reserve Bank of San. Competition and Regulation in the Airline Industry. Economic Report. San Francisco: Federal Reserve, 2002.
Gittell, JH, Cameron, K, Lim, S and Rivas, V. "Relationships, Layoffs and Organizational REsiliance." The Journal of Applied Behavioral Science (2006): 300-329.
Mackinac. Price Elasticity of Demand. Economic. Mackinac: Mackinac Center for Public Policy, 1997.
This mindset was made possible by their intensive investments in new technologies that made transactions inherently unauditable and untraceable by the Securities and Exchange Commission and other governance entities. Given the automation of these complex trading workflows and the inability of governance bodies to keep pace with technological advances, coupled with banker's unwillingness to assist governments in tracking increasingly intricate transactions, the bankers could literally make their own rules up as they went along. What has differentiated this global economic downturn from others is how pervasive this attitude has become of offloading risk by aggregating toxic and bad loans together, using technologies to increase speed of transactions while alleviating accountability (Corden, 2009).
An aversion to risk has been replaced by a consolidating, aggregating and re-selling of completely worthless and often called "toxic" loans, with accountability of the performance of investments left by the wayside. Bankers had the most to gain…
John C. Bogle. (2009, April 21). A Crisis of Ethic Proportions. Wall Street Journal (Eastern Edition), p. A.19.
Corden, W. (2009). The World Credit Crisis: Understanding It, and What to Do. The World Economy, 32(3), 385.
John Dobson. (2003). Why Ethics Codes Don't Work. Financial Analysts Journal, 59(6), 29-34.
Jeffrey C. Gerrish. (2002). Ten new commandments for corporate governance. American Bankers Association. ABA Banking Journal, 94(11), 16-20.
Islamic Bonds: Sukuk and the World of Finance
Stocks and bonds are among some of the most common ways of investing and raising capital in the financial markets today. Investors in the international arena are presented with a myriad of choices in terms of bond types. One of these is a relatively recent bond market that has emerged from the Islamic community, known as "Sukuk." This term is used to describe Islamic bonds. This type of bond distinguishes itself from its Western counterpart by its adherence to Shari'ah principles, one of which is the prohibition on charging or paying interest (Islamic Development Bank, 2010). This is accomplished by granting the investor a share of the investment asset, with its cash flows and risk. The growth and success of the Sukuk market has been remarkable, in that it caters to an investor market that seeks to diversify its holdings beyond the…
Financial Times (2011). Definition of Sukuk. Retrieved from: http://lexicon.ft.com/Term?term=sukuk -(Islamic-bonds)
Islamic Development Bank (2010). What is Sukuk? Retrieved from: http://thatswhy.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Internet/thatswhy/en/sukuk/what-is-sukuk.html
Rana, S. (2014, Nov. 27). Pakistan raises $1b through Sukuk bonds. The Express Tribune. Retrieved from: http://tribune.com.pk/story/798044/pakistan-raises-1b-through-sukuk-bonds/
Reuters (2014, May 1). Pakistan will issue dollar-denominated sukuk soon: Dar. Dawn. Retrieved from: http://www.dawn.com/news/1103402
North American Free Trade Agreement (NAFTA). Specifically, it will present the pros and cons of NAFTA, and how it will affect the apparel industry, especially in the California and/or Los Angeles market. It will consider such factors as how it affects the job market, manufacturers, contractors, etc.
THE EFFECTS OF NAFTA
The NAFTA agreement has been controversial since it first began in 1992. Many experts felt that the United States would lose a large amount of jobs to Mexico, because of lower wages and fewer trade union restrictions. It created Free Trade between Mexico, Canada, and the United States, and eliminated a large number of tariffs on a sliding scale over the next fifteen years. "On 12 August 1992, the United States, Canada, and Mexico agreed on a plan for free trade that would gradually eliminate tariffs over fifteen years and stimulate trade and investment. hile protecting the 1988 free…
Clement, Norris C., et al. North American Economic Integration: Theory and Practice. Northampton, MA: Edward Elgar, 1999.
Editors. "NAFTA and Workers' Rights and Jobs." Public Citizen.org. 2002. http://www.citizen.org/trade/nafta/jobs/
Gianaris, Nicholas V. The North American Free Trade Agreement and the European Union. Westport, CT: Praeger Publishers, 1998.
Rosenberg, Jerry M. Encyclopedia of the North American Free Trade Agreement, the New American Community, and Latin-American Trade. Westport, CT: Greenwood, 1995.
Sea Shipping Services in Europe
The study aims to identify the impact, benefits, and drawback of implementing a short sea shipping policy within Greece. Within the paper, arguments have been made for supporting the adoption of the policy, and there have been clear facts presented. The paper also attempts to make comparisons between the different modes of transport available with an aim to show how cost effective and environmentally friendly short sea shipping is to a country. The results presented are backed by previous research that has shown the impact of marine transportation and made comparisons with road or rail transportation.
Short Sea Shipping is defined as the movement of passengers and cargo by sea, between ports that have a shared coastline without crossing an ocean. Short seas shipping has been at the forefront of the European Union's transport policy mainly because it offers the potential to reduce road congestion…
There is a belief, common to economists, that government intervention is necessary to assist economic growth. The current belief that the reason that the economy is faltering is that job growth has faltered, has not altered this perception, even though it probably should have. Recently both the Bush and Obama administrations have tried many different means of stimulating the economy (much as Franklin Delano Roosevelt did during the "Great Depression"), and these means have had varying levels if success. However, despite some small amount of relief and a stronger stock market, job growth remains stagnant and the economy slugs along with it. The efforts of the current administration toward job growth and creation, whether that be in State of the Union speeches or actually policies, have not produced the desired effects. hy is this? Could it be that the Keynesian methods of economic growth and job production are faulty?…
Buzzeo, Fred. "Job Creation and Other Economic Myths." Ludwig von Mises Institute, 2010. Web.
Hazlitt, Henry. Economics in One Lesson. New York: Harper & Brothers, 1946. Print.
Mises, Ludwig von. "Capitalism, Happiness and Beauty." Capitalistic Mentality, 1954. Web.
Economic Depression of Europe
An economic depression is more severe than a recession due to the fact that a depression involves drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and high levels of unemployment.
There were economic depressions in Europe that were experienced before and after the 1870 but with a remarkable difference, being that those that were experienced before the 1870s were less costly in terms of life and resources and took relatively lesser period. Indeed it was a commonplace that every part of Europe experienced one sort of economic depression or the other.
One such economic situation before 1870 was the "little ice age" which began in the late 16th century till around 1950s as indicated by Big Site of History (2011). This was a time when a severe cold that could not be withstood by most crops set in most…
Big Site of History (2011). Social Trends in 17th Century Europe: The Problem of Divine-Right
Monarchy. Retrieved July 18, 2011 from http://bigsiteofhistory.com/social-trends-in-17th-century-europe-the-problem-of-divine-right-monarchy
Historic UK, (2011). The Great Plague 1665. Retrieved July 18, 2011 from http://www.historic-
Economic Crisis Policies
US current economic crisis is considered to be started from real estate sector. The real sector started to decline in 2006 and it accelerated in 2007 and 2008. Housing prices have fallen from the peak from about 25% so far. The decline in prices left homeowners with no option and they were unable to refinance their mortgages and causes default of mortgages. This default of mortgages and loans swallowed the banks and financial markets such as falling of Lehman's brothers and other anks and blow to rest of economy happened as the whole economy was relying on banks and ultimately it slows down investment in the country and capital flows to other parts of the world like China and India. ank losses cause reduction of bank capital which in turn requires capital reduction thus saving bank from lending. It is estimated that every $100 loss and reduction…
ISR international socialist review. (2009, april). Retrieved from The U.S. economic crisis:causes and solutions: http://www.isreview.org/issues/64/feat-moseley.shtml
Journal of accountancy. (2009, october). Retrieved from The U.S. economic crisis: root causes and road to recovery: www.journalofaccountancy.com/Issues/2009/Oct/20091781
Eyes on wall street. (2011, april). Retrieved from Levin coburn investigates casues of financial crisis: http://www.eyesonwallstreet.com/2011/04/articles/financial-crisis/levincoburn-report-investigates-causes-of-the-financial-crisis/
Rude, C. (2009). World Economic Crisis and Fed Reserve Response to it. Studies in Political Economy.
The revelation of the financial crisis that unfolded in United States in 2008 is considered to be the worst economic crisis since the Great Depression, 1929. The distinctive causative factors that have contributed to the U.S. economic crisis 2008- 2009 are differentiated by aggravated financial control, higher risks in capital investment, the housing bubble phenomena in relation to the brisk credit expansion. The aggregation of these factors in the U.S. economy directed the economy towards the de- leverage and credit crunches as the bubble burst. The following paper shall be discussing about the degree of correlation between the tax implications policies with respect to the financial crisis in U.S.. The precise review of strong linkages between the taxation and economic crises is the explicit explanation of the crisis that shook America. The paper also highlights the key factors that demonstrated their abilities and rescued U.S. In the economic…
Carr, D.A. (2011). Responses to Local Fiscal Shocks: Path Dependency Effects of the Clean Air Act. Public Finance and Management, 11(2), 160+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5050180027
Hendrickson, J.M., & Nichols, M.W. (2010). Did Commercial Banks Close Branches in Low-income Neighborhoods in Response to the Cra? Implications for Understanding the 2007-2008 Financial Crisis. Journal of Legal, Ethical and Regulatory Issues, 13(1), 17+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5044499375
Johnson, E.M. (2010, April). Mr. Trust Buster. In These Times, 34, 7+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5041402599
Robinson, S.N., & Nantz, D.P. (2009). Lessons to Be Learned from the Financial Crisis. Journal of Private Enterprise, 25(1), 5+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5037768696
Most particularly, I discuss the economic concept of demand and supply and the determinants of both supply and demand. Further, I also discuss in significant detail the meaning of economic indicators as well as monetary and fiscal policy.
Demand and Supply
Supply and demand are considered some of economics' most fundamental concepts. Indeed, they underlie almost every transaction in a market economy. In basic terms, demand according to Boyes and Melvin (2012), is "the amount of a product that people are willing and able to purchase at each possible price during a given period of time…" On the other hand, supply as Boyes and Melvin (2012) point out can be described as "the amount of a good or service that producers are willing and able to offer for sale at each possible price during a period of time…" It is the interrelation between these two important economic concepts that…
Boyes, W. & Melvin, M. (2012). Economics (9th ed.). Mason, OH: Cengage Learning.
Wessels, W.J. (2006). Economics (4th ed.). New York: Barron's Educational Series.
Increases in manufacturing reveal benefits early, one can track the benefit at all stages and report the benefits to the public quickly. According to a statement released by the Center for American Progress, "solar panels don't install themselves. Wind turbines don't manufacture themselves. Homes and buildings don't retrofit or weatherize themselves. In our industrial society, trees don't even PLANT themselves, anymore. eal people must do all of that work." The public wants a quick fix, they want to start hearing that the economy is doing better and a focus on manufacturing will accomplish this. Additionally, there has been increasing pressure on the White House to focuses on alternative energy sources. Such a policy would gain favor with democratic and liberal environmentalists.
4. Do you consider your views to be more aligned with a classical or Keynesian approach to economic thinking? Explain. (There is no right or wrong answer). See module…
Chea S., (2010). "Manufacturers' Orders as an Economic Indicator." Associated Content February, 2010. Retrieved from http://www.associatedcontent.com/article/2685879/manufacturers_orders_as_an_economic_pg2.html?cat=3 .
Federal Reserve bank of New York. Durable Goods. Retrieved from http://www.newyorkfed.org/education/bythe.html#durgoods .
Hoexter, M., (2009). "Cap and Trade: An Unserious Policy Framework.. Towards a Serious Climate Policy -- Part 2."Climate Policy, Energy Policy, Sustainable Thinking, December 2009.
Podesta, J., Stern T., (2007). "Capturing the Energy Opportunity: Creating a Low-Carbon Economy." The Center for American Progress, Nov. 2007. Retrieved http://www.americanprogress.org .
The downward spiral of deflation, the collapse of countless banks and other financial institutions, and the unprecedented levels of unemployment all demanded that something be done.
The programs that constituted President Franklin Delano Roosevelt's New Deal were not entirely unknown in the pre-Depression world. Various European countries already possessed social welfare schemes to some extent, but in the United States this was largely new thinking. The changes wrought by the New Deal reflected as much the uniqueness of conditions during the Great Depression as they did the undercurrent of new attitudes and ideas that had gradually been taking hold among America's intellectuals.
FDR's planners acted in the context of changing values, an evolving set of institutions, shifting political and economic circumstances, and the ebb and flow of planning opportunities to create a distinctly national, American form of planning.... They were part of a wide-ranging national debate over how to create…
DUMMY CITATION #1 G.M., Blaauw, G.A., and Brooks, Jr., F.P. "Architecture of the IBM System/360," IBM Journal of Research and Development, Vol. 44, No. 1/2, IBM, January/March 2000 [Reprint of IBM Journal of Research and Development, Vol. 8, No. 2, 1964.]
DUMMY CITATION #2 Anderson, Philip, and Michael L. Tushman. "Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change." Administrative Science Quarterly 35.4 (1990): 604fl.
Gibbons, Jim. "Gibbons Tells Congressional Committee to Abolish Arbitrary FAA Retirement Age: Nevadan Calls Current Federal Rule, 'Blatant Age Discrimination.'" Press Release, (United States Congress, Washington D.C., 12 March, 2003).
Wilkening, Robin. "The Age 60 Rule: Age Discrimination in Civil Aviation." (No Date). URL: http://aeromedical.org/Articles/age60.html.
Growth The retailer sector was lately affected by the back-to-school shopping season, which did not start so well, as midprice department stores, discounters and specialty-apparel retailers announced disappointing sales results during August, which reinforced the already much debated concerns that consumers are not comfortable with the current state of the economy and are reluctant to consume, considering the shaky and uneven economic recovery.
However, luxury department-store chains managed to post significant earnings, as they benefited from the help of an important number of upscale shoppers. Still, the effects of higher gas prices and the rising value of grocery bills, combined with lackluster job growth were severely felt by moderate- and lower-income shoppers.
Michael Niemira, chief economist and director of research at the International Council of Shopping Centers feels that "There's weaker-than-expected performance," due to the fact that "there was a slowdown in spending, but some results are exaggerated by…
1. Higher energy prices depress overall economy. Charles Stein.
Knight Ridder Tribune Business News. Washington:
Aug 6, 2004. On the Internet at http://gateway.proquest.com.libproxy.unm.edu/openurl-url_ver=Z39.88-2004&res_dat=xri:pqd&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=article&rft_dat=xri:pqd:did=000000674708321&svc_dat=xri:pqil:fmt=text&req_dat=xri:pqil:pq_clntid=2877
2. Retailers' Sales Come In Weaker Than Expected; Soft Results Reinforce Fears About Consumer Confidence; Discounters Saw Biggest Hit. Kortney Stringer.
To examine the causes the independent variables will be the costs associated with the production and sale of the cars, looking a both the direct and the overhead costs in the years prior to the bailouts, to assess the degree to which the firms appeared to have control over their costs. If there was a lack of control over the costs, the level of costs may be a predictor of future problems.
Definition of Terms
Before undertaking the research it is necessary to define some of the terms which will be used. The failure of a firm relates to whether a firm entered into bankruptcy. Bailout funding was the funding that was received from the government as part of an official bailout package in order to help the firm survive.
The costs will be assessed in terms of the overall costs incurred to manufacture cars; this may be the cost…
Isidore, C. (2008, November 17). Auto Bailout: Showdown. CNNMoney.com. Retrieved from http://money.cnn.com/2008/11/17/news/companies/gm_showdown
Hiraide Norikatsu; Chakraborty, Kalyan, (2012) Surviving the Global Recession and the Demand for Auto Industry in the U.S. -- a Case for Ford Motor Company, International Journal of Economics and Finance, 4(5), 85-94
Ooghe, Hubert; De Prijcker Sofie, (2008), Failure Processes and Causes of Company Bankruptcy: a typology, Management Decisions, 46 (1-2), 223-242
Watson, Thomas, (2009), Automotive Trouble, Journal of Domestic Car Production, 82(7), 11-12.
Fiscal and Monetary Policy and Economic Fluctuations
The global economy was relatively doing fine more than five years ago before it was hit by economic downturn or recession. During this period, the American economy was at its peak, particularly in the fourth quarter of 2007. However, this was followed by a mild recession at the beginning of 2008, which eventually turned into a severe credit crisis across the world approximately one year later. While only a few countries escaped the economic recession, virtually no country could avoid the severe bear markets in stock (Norris, 2012). Some countries like the United States experienced changes in gross domestic product and stock markets. Since it has the best record of the main developed countries, the United States was severely affected by the recession. As the economic downturn came to end, America started the process of recovery from the effects of the recession. This…
Davidson, P. (2013, September 11). Economy is Still Bruised Five Years After Crisis. USA
Today. Retrieved November 24, 2013, from http://www.usatoday.com/story/money/business/2013/09/10/economy-2008-financial-crisis-lehman/2789841/
Klimasinska, K. & Chandra, S. (2013, August 27). America Resilient Five Years After Great
Recession. Bloomberg. Retrieved November 24, 2013, from http://www.bloomberg.com/news/2013-08-27/america-resilient-five-years-after-great-recession.html
difficult economic timers, buying a house is a risky decision. Purchasing a home, particularly for the first time, has always been so, but uncertain financial periods -- the downturn followed by a possible upturn -- make it all the harder. Few prospective buyers are aware of the excruciating decisions that devolve around the purchase, nor are they aware of the economic minutiae involved. Investing background economic principles may make this somewhat easier and this is what this essay intends to do.
According to Nicolas Gregory Mankiw (2006), an American macroeconomist, ten fiscal decisions underlie economy as the base for decision-making. Following these principles can increase profitability, whilst reducing the risk of fiscal loss. The six pertinent principles include the following:
People face trade offs. 2. The cost of something is what you give up to get it, 3. ational people think at the margin, 4. People respond to incentives. 5.…
Fontinelle, A. (2010) Homebuyer tradeoffs: What will you have to sacrifice. Yahoo! 7 Finance. Accessed on 13 February 2011 from: http://au.pfinance.yahoo.com/moneyandyourlife/buying-a-home/article/-/8008660/homebuyer-tradeoffs-what-will-you-have-to-sacrifice/
Gonzalez Ribeiro, A. (2010). New Home Buyer Incentives Replace Government Tax Credit. MintLife. Accessed on 13 February 2011 from: http://www.mint.com/blog/goals/home-buyer-credit-05202010/
Mankiw, G. (2006). Principles of Economics, 4th Edition. South-Western College Pub.
Surowiecki, J. (March 10, 2008) Home Economics. The New Yorker. Accessed on 13 February 2011 from: http://www.newyorker.com/talk/financial/2008/03/10/080310ta_talk_surowiecki
This is because it runs counter to their strategies. These distinctions are important, as it highlights how this concept would not be accepted, based upon these differences.
The effects of incorporating organizational theory into organizational economics
When you are incorporating organizational theory into an entity, there will be a number of different positive effects to include: improved cooperation and trust. This is important, because it shows how the organizational theory is having an impact upon economics, by changing the way administrators are dealing with organizational issues (which will have an impact upon spending and revenues received).
The effects of empirical research performed by organizational economists
The effects of empirical research are: that economist have been focused on the economic aspects of the theory vs. The organization itself. This is important, because it highlights how many administrators can face challenges as economic theories are providing a general view, about how to…
"Partial Equilibrium Analysis." Business Dictionary. 2010 http://www.businessdictionary.com/definition/partial-equilibrium-analysis.html
Barney Jay. "Learning from Organizational Economics." Organizational Economics Theory. 263 -- 267. n.d.,
Small Julie. "California Supreme Court Upholds Worker Furloughs." SCPR. 4 October 2010 http://www.scpr.org/news/2010/10/04/california-supreme-court-upholds-state-worker-fu/
Chicago Format. http://owl.english.purdue.edu/owl/resource/717/01/
Most economists feel that if China's currency were allowed to trade freely, it would be a whole lot more. No one can know for sure how much more, but leading economists put it in a range of 10 to 40% higher value than it is now (Davidson 2006),
By keeping the Yuan artificially low in value, China is effectively giving the U.S. consumer a discount on all Chinese exports. By doing this they are discounting their own exports. This is good for many U.S. consumers because it allows them to buy cheaper clothes and electronics along with many other items. But on the other had it is bad for U.S. manufacturers who can't compete with low Chinese prices in the end. Some U.S. manufacturers have adapted by buying many component parts at a lower cost from China. The ability of a manufacturer to adapt depends on the company and the…
Amadeo, Kimberly. 2009. "China Economy." Available at:
Borjas, George J. And Ramey, Valerie a. 2000. "Market Responses to Interindustry Wage
Differentials." Available at:
I expect to excel. I demand a high level of performance from myself and as a result I know that I will bring a lot to classroom discussions.
As a member of the campus community, I have contributed in many ways. I have been active my classes, and worked with my fellow students to make sure that we all achieve a high level of success. I have played an active role in school social life, and look forward to making more such contributions in the future.
The exposure I have gained thus far to economic concepts in my coursework has also contributed to my interest in the subject. I have a strong orientation to systems, so piecing together the wide range of economic variables in order to better understand the world in which we live and do business is both challenging and rewarding for me. I have excelled when given…
Less Economic Integration Within the United States
Over the last several decades, the total amount of trade between the United States and Canada has been increasingly brought to the forefront. Part of the reason for this, is because the two nations share a common boarder that has encouraged both of them to trade more with each other. As time has evolved, this relationship has continued to increase exponentially with the two becoming increasingly interconnected based upon NAFTA. This has helped to fuel large amounts of natural resources that are exported from Canada into the U.S. Where, America has considerable demand for raw materials to meet the needs of: manufacturers, businesses and consumers. (Schwanen, 2005, pp. 309 -- 406) Evidence of this can be seen by looking than the below table, as this illustrates the total amounts of trade between both nations from 1996 to 2010.
Annualized Trade Figures between the…
Canada GDP Growth Rate. (2011). Trading Economics. Retrieved from: http://www.tradingeconomics.com/canada/gdp-growth
Chinese Think Tank. (2011). Mercopress. Retrieved from: http://en.mercopress.com/2011/04/08/chinese-think-tank-forecasts-bric-countries-to-overtake-the-us-economy-by-2015
Peru. (2011). CIA World Fact Book. Retrieved from: https://www.cia.gov/library/publications/the-world-factbook/geos/pe.html
Trade in Goods with Canada. (2011). U.S. Census Bureau. Retrieved from: http://www.census.gov/foreign-trade/balance/c1220.html
Asian Economic Crisis
In the summer of 1997, an economic and currency crisis rocked the Asian markets. One by one, southeast Asian countries such as Thailand, Indonesia, Korea and Japan saw their economies crash in the wake of heavy foreign investment. An economic boom had made the region an attractive investment opportunity for much of the 1990s. y 1997, however, domestic production and development had stalled, and foreign investors grew nervous. A divestment run on the Thai baht triggered the crash. Large corporations, extremely dependent upon the confidence of foreign investors failed to meet debt obligations and began to fail throughout southeast Asia. Currencies throughout the region faltered and nosedived from their mid-1990s positions of stability. The causes of the Asian economic crisis are varied. Lax oversight of corporations had ramifications in economic downturns that were not a concern in the mid-90s boom. Macroeconomic policies of the southeast Asian countries…
Chronology of the Asian Currency Crisis.(n.d.). Retrieved July 1, 2004 from Web site: http://www.stern.nyu.edu/globalmacro/AsiaChronology1.html
Corsetti, G., Peneti, P., & Roubini, N. (1998). What caused the Asian currency and Financial crisis? Part I: A macroeconomic overview. Downloaded June 26, 2004 from Stern School of Business, NYU, Web site: http://www.stern.nyu.edu/globalmacro/asiacri1.pdf
Khor, M. (2000). The economic crisis in East Asia: Causes, effects, lessons. Downloaded June 28, 2004 from World Bank. Web site: http://www.worldbank.org/poverty / wdrpoverty/malaysia/khor.pdf
Lee, Y-S. (1998). A political economy analysis of the Korean economic crisis. Journai of Asian Economics, Vol. 9, No. 4, 627-636.
Starbucks has the potential to benefit from the improving economic conditions. The firm appeals to the mass market, selling a non-essential product. Sales of non-essential products suffer most during economic downturns. Furthermore, when there is a recovery, firms that sell items of a relativity low cost that are still perceived as 'luxuries' may benefit from even small increases in the level of disposable income (Kotler and Keller, 2011). A key indicator of the economy in the U.S. is the unemployment level; this has dropped to 7.5% in 2013 with a recent Wall Street Journal survey of economists indicating they expect a further 180,000 jobs will be created each month for the next 12 months in the U.S. (Casselman and Izzo, 2013). As increase employment emerges wages are also likely to increase; raising the level of disposable income where the increases are above the rate of inflation. There is a general…
Baye Michael, (2007), Managerial Economics and Business Strategy, McGraw-Hill/Irwin
Casselman, B; Izzo, P, (2013), Economic Road Clearing, but the Going Is Slow, Wall Street Journal, [online] http://online.wsj.com/article/SB10001424127887324059704578473383938968700.html accessed 5th June 2013
Economagic, (2013), PPI: Dairy Products, [online] http://www.economagic.com/em-cgi/charter.exe/blswp/wpu023 accessed 5th June 2013
Forecasts.org, (2013), Crude Oil Forecast, [online] http://forecasts.org/oil.htm accessed 5th June 2013
Healthcare and Economics:
Health care costs have continued to increase in the past few decades despite of the numerous health reform initiatives. Currently, these expenditures account for more than 18% of GDP in the United States, a percentage that is expected to continue rising significantly. Actually, it's projected that the share will rise to 34% of GDP by 2040 if health care costs continue to increase at historical rates. The increased health care costs have considerable impacts on households, insurance companies, and government budgets. For instance, households with employer-financed health insurance will have a progressively minimal portion of their total compensation in the form of take-home pay. On the other hand, a progressively larger fraction of compensation will be in the form of employer-provided health insurance. Governments will be forced to cater for more than 50% of health care expenditures if they continue to increase at historical rates. Therefore, the…
Harrington, L. (2011, May). Career Scope: Balancing Quality and Costs During Economic
Downturns. Nursing Management, 42(5), 46-48. Retrieved from http://www.nursingcenter.com/lnc/JournalArticle?Article_ID=1163319&Journal_ID=54013&Issue_ID=1163211
Philipson, T. (2013, October 31). Obamacare or Not, Healthcare Costs are Set to Soar. Forbes.
Retrieved December 3, 2013, from http://www.forbes.com/sites/tomasphilipson/2013/10/31/obamacare-or-not-healthcare-costs-are-set-to-soar/
(Berkowitz; Muller-Bonanni; American Bar Association; Section of International Law, 2007) Employers must ensure that payments and other benefits that are due are given to the dismissed employees. In countries like France, these payments and benefits may include severance indemnities which differ according to the positions and seniority of the employee, and any paid vacation that is due to the employee but has not been availed of. Some payments may also have to be made in cases of "contractual non-competition clauses." The total payment amount depends upon the individual job contract and the relevant collective agreement, the minimum being set by appropriate legislation. (American Bar Association; Committee on Negotiated Acquisitions, 2006)
The severance indemnity paid to the dismissed employee is calculated on the basis of a certain percentage of the employee's monthly income multiplied by the number of years worked by the employee in that company. In some countries like France,…
American Bar Association; Committee on Negotiated Acquisitions. (2006) "International
stock purchase acquisitions" American Bar Association.
Berkowitz, Philip M; Muller-Bonanni, Thomas; American Bar Association; Section of International Law. (2007) "International labor and employment law" American Bar Association.
Leat, Mike. (2007) "Exploring Employee Relations"
Global Economic Crisis
Throughout the history of the U.S. and the world at large, financial crises and the resultant economic recessions have occurred unerringly recurrently. In fact, the phenomenon has become so common that some think of such crises as parts of economic systems of the major world powers. The most recent one is the 2008 financial crisis that brought about the world economic recession. The recession resulted in over 4.1 trillion dollars in losses, increased poverty, unemployment numbers climbing to over 10% in the U.S. and quite higher in major European economies, major banks collapsed and several stock markets crashed. In fact, American investors alone lost over forty percent of their savings value. Housing prices dropped sharply from the high recorded previously in 2006. The 2008 crisis also resulted in decline in manufacturing, reduction of world trade, decrease in consumer spending, and many negative effects. Because of the importance…
Aguiar, M., Hurst, E. & Karabarbounis, L. (2013). Time Use during the Great Recession, American Economic Review, 103, 1664-96.
Aluko SA (2008). The Global Economic Crisis and the Nigeria Financial System: The way forward; A paper delivered at the 14th seminar for Finance Correspondents held at Benue hotel, Markurdi, July 16th.
Arestis, P., Charles, A. & Fontana, G. (2013). Financialization, the Great Recession, and the Stratification of the U.S. Labor Market, Feminist Economics, DOI:10.1080/13545701.2013.795654
Claessens, S. & Kose, M.A. (2013). Financial Crises: Explanations, Types, and Implications. IMF Working Paper
2007 Economic Crisis on American Car market
Effect of the 2008 global economic crisis on automotive industries
Crisis in the United States
Crisis in Canada
Crisis in ussia
Crisis in European markets
Crisis in Asian markets
Effects by other related crisis events
In this paper, we will review the effects of 2008 global automotive crisis. Our main focus will be on the American car manufacturers and the negative impact they suffered due to the crisis. We will also have a look at how this crisis had affected car manufacturers in other major markets around the world notably Europe, Canada and the prominent Asian markets such as China and India. Finally, we will look at some of the other factors which were important to this event namely the energy crisis since the cost of fuel is directly related to the car industry.
The automobile industry is a very important part…
Lee, C. (2003). Financial Liberalization and Economic Crisis in Asia. New York: Routledge.
Pempel, T.J. (1999). The Politics of Asian Economic Crisis. New York: Cornell University Press.
Arestis, P. (2001). What Global Economic Crisis? New York: Palgrave.
Liou, K.T. (2002). Managing Economic Development in Asia. Westport, CT: Praeger.
MacDonald's STEP analysis
In this paper, we explore the concept of STEP analysis by means of illustration. We perform an elaborate STEP analysis of McDonald's, the world's fast food giant. This is then followed by a recommendation on what actions McDonald's can do in order to take care of the issues that have been exposed via the STEPanalysis.
McDonald's is a food and beverage franchise that by 2001 boasted of close to 28,700 outlets spread in 120 nations Karen,2005). The company's food outlets are very popular among the youth. It offers an environment which is perceived to be safe for families as they can enjoy quality food at an affordable price in a clean environment. The food chain offers its client a familiar environment that is characterized by a McDonald's clown as well as stunning interior worldwide as pointed out by Debres (2005). The company has…
Aswathappa, A (2006): International Business: Tata McGraw-Hill: p, 226
Barriaux, M (2007).McDonald's goes green - but not all customers are lovin' it. The Guardian
Greider, W (2003): Victory at McDonald's: The Nation: 277 (5): p, 8
Daniels, K (2010). PESTLE analysis http://www.cipd.co.uk/hr-resources/factsheets/pestle-analysis.aspx
Above all it has followed the delibeate maketing of health cae (in association with touism) as medical cae has gadually moved away fom the public secto to the pivate secto, ensuing that a gowing majoity of people, especially in the ichest counties, and paticulaly in the United States, must pay -- often consideably -- fo health cae. Finally, gowing inteest in cosmetic sugey, involving such elective pocedues as hinoplasty, liposuction, beast enhancement o eduction, LASIK eye sugey and so on, o moe simply the emoval of tattoos, have ceated new demands. Vaious foms of dental sugey, especially cosmetic dental sugey, ae not coveed by insuance in counties like the UK and Austalia; hence dental touism has become paticulaly common. In Asia these tends ae 'the unlikely child of new global ealities: the fallout of teoism, the Asian economic downtun, intenet access to pice infomation, and the globalisation of health sevices'…
references because the family vetoes it, in part because they were never made known. For a grieving and bereft family, a request for organ donation is difficult to agree to because they can only guess at the wishes of the deceased and if there were any doubt at all, would not the natural answer be a rejection? If relatives had severe objections, they should be taken into account for to do otherwise raises the spectre of the swastika, but the point remains that by changing the default position of organ donation it is a veto clearly against the deceased's wishes, which would be rather more unlikely to take place than the current veto due to a simple lack of information. It is not that the PC system is ethically unsound (Hatfield and Walker 1998).
It can be argued that presumed consent is superior to the opt-in system because it truly ensures autonomy by giving effect to choices each person makes. It gives legal effect to individual autonomy and it ensures truly informed consent when accompanied by public education and information, instead of intuitive responses to organ donation. But one has to question how comfortable the deceased family will be when they come to realise that their relatives' kidney is being placed into someone who is HIV positive. This is likely to be an ethical and morale matter rather than a discriminatory one (Williams, 1999).
Nonetheless, some problems with presumed consent have been pointed out. Patient autonomy lies at the very heart of modern medicine and medical research. This is partly a reaction against medical paternalism and an increasing awareness of the integrity of the individual. It may be argued that a presumed consent (PC) system is paternalistic - but it concomitantly reinforces individual autonomy and preserves the dignity and integrity of the individual especially in comparison to, for example, an organs market. (Brooks).
McLean points out that underpinning the system of organ donation is the fundamental view that organ transplantation should be a gift relationship and should not be based on the type of disease a person has. This underlines that HIV sufferers are just as entitled to a kidney transplant as those who are looking for a heart transplant. John Morris doubts that proposals to change legislation to allow presumed consent to be introduced are likely to be publicly accepted. However, why is presumed consent any less a gift? It does not mean widespread harvesting of major organs. It means greater public awareness and individual choice that is made concrete.
In today's modern, the reality is that HIV / AIDS is at a crossroads where the economic and political niches of the contemporary modern condition provide both the possibility to raise scientific research in order to create a means of effective pandemic or the new religion of globalize capital may only serve as to extend HIV / AIDS to become the biggest social issue of all history. There is a huge issue with regards to donor transplantation and especially kidney transplantation. Unfortunately, some patients with Human Immunodeficiency Disease are denied equal access to kidney transplantation and the same priorities of other people who are suffering from other serious diseases. Therefore, in this research, evidence will be provided to proof HIV patients have the same rights as others to get a kidney transplant regardless if they appear completely diseased.
Though the director claimed to have no knowledge of the accounting fraud, analysts wonder what other than his silence could possibly warrant such a high compensation package (English 2002). This is yet another company where slews of jobs were lost, pensions and benefits disappeared, and yet many top executives received lucrative compensation and severance packages, five years before any TAP funds were available to provide them.
There is some hope that the situation might change, however. In the wake of the financial scandal, and even in the years leading up to it, many CEOs signed deals agreeing to limit their own pay should their companies hit troubled waters (Penttila 2009). Congress has also been considering legislation that would either directly limit executive compensation in public companies, or allow for direct shareholder say in the compensation of company officers, but often this type of "consideration" is really political double-speak for seeming…
English, Simon. "WorldCom Chief was Aware of Fraud." The Telegraph. Feb 27, 2009
Kopecki, Dawn & Goldman, Julianna. "Obama Calls Bonuses Shameful and as Dodd Vows to Reclaim Money." Bloomberg. Feb 27, 2009 .
Oliphant, James. "Stimulus' Cap on Executive Bonuses is Too Sweeping, Experts Warn." Los Angeles Times. Feb 27, 2009
Pentilla, Chris. "Rethinking CEO Salaries." Entrepreneur Magazine. Feb 27,2009
Athletics and Academics
In the current economic climate of the United States, public institutions are finding themselves having to make harsher and harsher budget cuts. Teaching positions are minimized, class sizes are increased, and fees are rising to nearly unaffordable regions. The English Department at a certain university or high school may drop from twenty-five professors to a dozen or so. It is the harsh reality of living in an era of economic downturn. However, even as the college school would lose more and more financial assistance from the government, athletic programs at schools continue to expand and provide more and more incentives for prospective recruits. This is symptomatic of a flawed philosophy in college institutions: the ability to perform athletic skills has more importance than the ability to think. This perspective not only jades the graduating classes but teaches the wrong principles for when a student needs to learn…
Larimore, David (2007). "Non-Economic Societal Impacts of Intercollegiate Athletics." The
Sport Journal. United States Sports Academy.
Meier, K.J., Eller, W.S., Marchbanks III, M.P., Robinson, S., Polinard, J.L., Wrinkle, R.D.
(2004). "A Lingering Question of Priorities: Athletic Budgets and Academic Performance Revisited. Review of Policy Research," 21(6), 799 -- 807. Retrieved from Academic Search Premier.
These can include the stimulus package, though, because the Obama Administration is still offering stimulus dollars to banks and other companies that need help and cannot take care of their customers in the way that they used to and preferred to.
Figure 1: How Severe is the Subprime Mess?
Obviously, the subprime mess is a serious concern for everyone. The stimulus package was designed to help the banks and the people who borrowed from them with the fact that they could not pay for the debts that they had created for themselves. That was true for the people who had mortgages, and also true for the banks that loaned money to these people. The stimulus package was designed to help them both out so that they could take care of their debts and move forward again. However, the economic stimulus package has not fixed everything that was hoped. There are…
Anderson, Mark (2009-06-30). "Down in flames: Why Money Store was a bust." Sacramento Business Journal. American City Business Journals, Inc.
"Bank vows $20 billion for green projects." msnbc. 2008-02-06. http://www.msnbc.msn.com/id/17500301/ .
"Credit Cards' Latest Pitch: Green Benefits." Wall Street Journal. 2007-11-30. http://online.wsj.com/article/SB120225763311445823.html .
Freer, Jim (2007-03-09). "BofA donates $1M to Camillus House." South Florida Business
It is worth noting that two economic consequences are likely to occur, particularly in the event of a V-shaped recovery. The first is that the Federal Reserve is going to wait to increase rates until the last possible moment, in the hopes of spurring greater investment and therefore job growth. This means that inflation is expected at some point this year. This inflation means that factor inputs will increase in cost. Larson can gain advantage over competitors if it can hold its wholesale cost stable in the face of an increase in the cost of factor inputs, since competitors may be forced to increase their prices. Careful control over its cost structure will allow Larson to do this while maintaining profitability.
Another potential economic consequence is a decline in the value of the Euro. Normally, Larson exporting products from America to Germany would be fairly easy given Germany's current account…
CNN. (2010). Battle for downtown Bangkok hits economy. CNN. Retrieved May 15, 2010 from http://edition.cnn.com/2010/Business/05/14/battle.bangkok.economy/index.html?hpt=T1
Kirschbaum, E. (2010). Euro in danger of becoming unstable. Reuters. Retrieved May 15, 2010 from http://www.reuters.com/article/idUSTRE6150N020100206
Federal Reserve Bank of New York. (2010). Federal funds data. Federal Reserve Bank of New York. Retrieved May 15, 2010 from http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm
BEA (2010). Personal income and outlays, March 2010. Bureau of Economic Analysis. Retrieved May 15, 2010 from http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm
disrupting America's economic system is a fundamental objective of terrorists
Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists.
Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now, however, the aftermath of the terrorist attacks serves as a grim reminder that international relations and security developments can dramatically affect economic performance.
US History is replete with countless examples when macro fundamentals are overtaken by what economists refer to as, exogenous shocks -- surprise events that can profoundly and often unpredictably shift political and economic resources, and send even the most accurate forecasts astray. Commodity shocks, such as the two OPEC jolts in the 1970s, are classic…
Bagehot, Walter. 1927. Lombard Street: A Description of the Money Market, John Murray, London.
Balbach, Anatol B. 1981. "How Controllable is Money Growth?" Federal Reserve Bank of St. Louis Review, vol 63, no 4, April, p. 5.
Becker, Gary S, Steven N. Kaplan, Kevin M. Murphy and Edward A Snyder. (2002 / winter). "The Economic Effects of September 11," GSB Magazine, University of Chicago's Graduate School of Business.
Bell, Stephanie. 2000. "Do Taxes and Bonds Finance Government Spending?." Journal of Economic Issues, Vol. 34, no. 3, pp. 603-620.
As banks faltered and default rates rose, rates of consumption and demand plummeted. Unemployment began to increase, and in a predictable Keynesian fashion, as individuals grew more insecure about their job prospects they began to spend less money. The United States has a particularly consumer-driven economy -- Americans are known for having historically low rates of savings and to engage in high rates of spending -- so this was particularly disruptive to the usual rhythms of the economy.
Young people graduating from college suffered some of the worst effects of the recession. "Unemployment rates for individuals younger than 25 are currently 21% in the euro area and 19% in the U.S." (Branchflower 2010). They were competing with older, more experienced workers who had recently lost their jobs. The fear is that today's low starting salaries create a class of permanently low-earning graduates, many of whom have high levels of college…
Branchflower, David G. "Credit crisis creates Lost Generation." Bloomberg Business.
January 21, 2010. August 28, 2001.
Ferguson, Niall. "Where did all the money go?" From the Great Hangover. Edited by Graydon
Meanwhile, the government's budget deficit has become so large that credit rating agencies have actually lowered the nation's credit ratings. The effect has caused concerns throughout the world that America's economy was in decline.
The overall policy of the United States is still geared toward growth but despite efforts by the government to stimulate the economy there has been little to indicate that economy is recovering. Unemployment remains high and the housing market remains stagnant. Addressing these concerns is of paramount importance in order to increase the ordinary families' spending power and to cut the consuming public's reliance of debt. Culturally, the United States needs to discover the qualities and work ethic that once made it great. Only then can some of its other economic problems be overcome and the road to recovery begun.
The problems facing the American economy are serious ones. The world has changed dramatically in the…
Antle, W.J. Is America in Decline, the American Spectator, pp. 30-35 (2011).
Issa, Darrell. Unaffordable Housing and Political Kickbacks Rocked the American Economy, Harvard Journal of Law & Public Policy. pp: 407-419 (2010).
Izzo, Phil. Some 15% of U.S. Uses Food Stamps, the Wall Street Journal. http://blogs.wsj.com/economics/2011/11/01/some-15-of-u-s-uses-food-stamps / (November 2, 2011).
Jorgenson, Dale and Ho, Mun. Potential Growth of the U.S. Economy: Will the Productivity Resurgence Continue?, Business Economics. pp: 7-16 (2006).
macroeconomic themes that have been taught or covered in this course is economic policy and its role in determining or influencing economic growth and development. Economic policy is a subject that has attracted considerable attention in recent months because of the presidential elections in the United States. Actually, monetary policy was one of the major issues in recent presidential campaigns and elections. This issue has also been subject of several publications by different new sources because of its significance in the country's economic growth and development. Paula Dwyer wrote an article to examine the recent rise of the Dow Jones Industrial Average in the aftermath of Donald Trump's election as the U.S. President. This analysis was carried out on the premise of the impact of Trump's economic policies on different aspects of the economy. The U.S. market has shown indication of its approval of Trump's economic policies in different ways…
Dwyer, Paula. "The Hidden Meaning of Dow 20,000." Online posting. Bloomberg Businessweek. Bloomberg L.P., 22 Dec. 2016. Web. 23 Dec. 2016. .
5. Strategic recommendation
The strategic possibilities mentioned above are all important and have the ability to provide the financial institution with long-term stability. Nonetheless, since the company possesses limited financial resources at the time being, but also due to the complexity of the external and internal environments, not all four strategies can be developed. It is at this stage necessary to implement strictly those strategies which serve the immediate needs of the company and the stakeholders. In order to identify these needed strategies, it is important to assess them through the lenses of four specific criteria:
esource availability to implement the strategy
Urgency of strategy implementation and esults availability of the strategies.
The table below reveals the criteria-based assessment of the four strategies.
esource availability for strategy implementation
Urgency of strategy
Expectancy of results (in the short-term)
Carsewell, S., 2010, Fingleton's successor says events at INBS an outrage, Irish Times, http://www.webcitation.org/5rqiBQWJl last accessed on November 18, 2011
Doddy, J., The Irish banking sector, Deloitte, http://www.deloitte.com/assets/Dcom-Ireland/Local%20Assets/Documents/Real%20estate/IE_PS_John%20Doddy_Soc_Chartered_Surveyors_Presentation_0311.pdf last accessed on November 18, 2011
Farrell, S.., 2009, Anglo Iris Bank nationalized, The Independent, http://www.independent.co.uk/news/business/news/anglo-irish-bank-nationalised-1380495.html last accessed on November 18, 2011
Kuenkeel, P., Gerlach, S., Frieg, V., 2011, Working with stakeholder dialogues, BoD -- Books on Demand, ISBN 3839183022
Lopez, Aide and Thomlinson (2001) discuss how the shift towards urbanization and away from an agriculture-driven economy has affected Puerto Rico. The authors note that in the 1930s, 43% of the island's gross national product came from agricultural products. This has shifted such that by 1996 that figure was 1.2%. This is in line with most urban, developed economies, but to an extent there was no major industrialization of Puerto Rico. The territory has a far lower GDP per capita than any U.S. state (CIA orld Factbook, 2013). In recent years, Puerto Rico has experienced a shrinking economy and it has a high level of unemployment.
Puerto Rico once competed on the basis of two things -- its comparative advantage in the production of tropical agricultural products and its preferential access to the U.S. market. The island became a major seller of sugar to the U.S. The expectation…
CIA World Factbook. (2013). Puerto Rico. Central Intelligence Agency. Retrieved April 25, 2013 from https://www.cia.gov/library/publications/the-world-factbook/geos/rq.html
Lopez, T., Aide, M. & Thomlinson, J. (2001). Urban expansion and the loss of prime agricultural lands in Puerto Rico. Ambio. Vol. 30 (1) 49-54.
Trading Economics. (2013). Puerto Rico inflation rate. Trading Economics. Retrieved April 25, 2013 from http://www.tradingeconomics.com/puerto-rico/inflation-cpi
The economic environment of Greece is that of a capitalist economy, but with significant public sector contribution – about 40% of total GDP is from government activity. This speaks more to the relatively small size of the Greek private sector than to excessive government ownership of industry. Tourism is one of the major drivers of the Greek economy, accounting for 18% of GDP (CIA World Factbook, 2017). Thus Greece would be characterized as a mixed economy with some government-owned entities. Greece is a member of the EU, but has also received several bailouts in recent years, and struggles with tax collection, and overall economic development. Tax evasion ranges between 6-9% of total GDP in Greece, which makes it a significant economic problem (Georgakopoulos, 2016).
Recent Macroeconomic Data
In recent years, Greece\'s economy has flatlined. The country has received several infusions of capital from other EU countries, but there…
The Canadian Centre for Policy Initiatives, on the other hand, is an Interventionalist think thank that advocates government intervention in some cases, but chides it in others.
On the other end of the spectrum, the Montreal Economic Institute can be described as a Neoliberal think tank. The organization, which was founded in 1999, seeks to "promote an economic approach to the study of public policy issues." By studying the organization's publications, however, one can quickly realize that most contributors call under the classification of Neoliberal economists. Shah calls Neoliberalism the "mechanism for global trade and investment." The movement is the one practiced by capitalists and free market economists. Neoliberal economists generally see the international markets as self-governing, motivated by Adam Smith's invisible hand and self-interest. Government intervention, therefore, is looked down upon in any case other then protection from invaders.
Though the think tank's information did not specify Neoliberal ideas…
Albo, Greg. "Neoliberalism and Canada's Ruling Class." 7 July 2007. Monthly Review.
June 2008. http://mrzine.monthlyreview.org/albo070407.html .
Boothe, Paul and Richard Roy. "Business Sector Productivity in Canada: What Do We
Know?" International Productivity Monitor. 16 (2008): 3-13. http://www.iedm.org/main/show_editorials_en.php?editorials_id=649 .
According to Kerin, et al., (2003) all employees posses some form of power to interrupt the smooth running of operations by deciding to be uncooperative in the production processes, or just by terminating their services. Workers may abide to the power of the company, though they usually maintain a strong interest in their employment. Thus, employees and employers, to certain degree, are interdependent. As such, the company cannot depend only on coercion or conformity to get good performance form employees, the company as well require to gain cooperation and consent from the employees.
Chase, et al., (2004) asserts that the issues of subjectivity are related to analysis of actual work practices where interactive services are involved. This is because companies' actively control employees' identities. Chase, et al., (2004) stresses the anguish felt by employees when an organization exploits their feelings and personalities. Nonetheless, Kerin, et al., (2003) notes that some…
Chase, R., Jacobs, F., Aquilano, N. (2004). Operations Management for Competitive Advantage (10th Ed.): McGraw-Hill Irwin; Boston.
Kerin, R., Berkowitz, E., Hartley, S., Rudelius, W. (2003). Marketing (7th Ed.): McGraw- Hill Irwin; Boston.
McDonald website (2012): Retrieved on June, 30, 2012; from http://www.mcdonalds.com
McDonald's (2012). 2011 Annual Report: Retrieved from: http://www.aboutmcdonalds.com/content/dam/AboutMcDonalds/Investors/Investors%202012/2011%20Annual%20Report%20Final.pdf
Ideally, mutual funds should represent variety of market sectors throughout the world, to cushion the investor against regional recessions.
Another psychological buffer for the cautious investor is to think of categories of investments, rather than investments in a holistic manner, such as fail-safe investments, long-term growth or retirement money (invested in stocks), and higher risk investments.
This balance will shift with the investor's age, financial profile, and willingness to tolerate uncertainty and speculation. Also, investors may want to consider holding some index funds along with more actively managed mutual funds so as to not miss out on any general market booms, although this does have the downside in that the investor will also experience every market…
Global Economic Analysis
Describe the Economic State of the Country
The state of the economy of any nation or region is influenced by the economic conditions that change over time, consistent with the business cycle. The economic state of France, in accordance to the research findings, is at a contraction phase. This is owing to the fact that the economic conditions within the research are adverse. The absence of extensive and prevalent economic weakness throughout the whole economy is indicative that France is not presently going through contraction. This is largely because the weakness disseminates throughout the economy, not just in a geographic sense, but also in the sense of different sectors such as employment. This can be perceived through the different economic indicators analyzed. The real GDP, Productivity and GDP per Capita PPP are all declining, indicative of adverse conditions of the economic state.
Describe the Current Business Cycle…
B2B International. (2016). Effective marketing strategies for a recession. Retrieved 28 January, 2016 from: https://www.b2binternational.com/assets/ebooks/marketing_recession/recession_marketing_4.pdf
Baumohl, B. (2012). The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities. New Jersey: Princeton.
English, C. (2013). HARD MARKET VS. SOFT MARKET: THE INSURANCE INDUSTRY'S CYCLE AND WHY WE'RE CURRENTLY IN A HARD MARKET. PSA Financial. Retrieved 28 January, 2016 from: http://www.psafinancial.com/2013/01/hard-market-vs.-soft-market-the-insurance-industrys-cycle-and-why-were-currently-in-a-hard-market/
Poverty rose after the Islamic evolution, and so did unemployment, leaving Iran largely uncompetitive in the global marketplace. Their largest export is the sale of oil and gas, and Iran holds what is estimated to be 10% of the world's oil reserves, so their economy is growing again, and they are successfully paying off old debt that was restructured in the 1980s (Editors).
While Iran was sinking into a depression, Israel, on the other hand, was gaining ground in many areas of their economy. While they still have to import oil, and that continued during the 1975-1985 time period, their economy has modernized and gained much more ground and diversity than Iran's, at least today. However, from 1975 to 1985, the economy was a very different story. While Iran was undergoing a boom because of oil prices, Israel enjoyed no such luxury. In fact, their resources were depleted after the…
Coutsoukis, Photius. "Israel's Economy." Photius.com. 2004. 3 July 2008. http://www.photius.com/countries/israel/economy/israel_economy_economic_growth_and_~13.html
Editors. "Iran's Economy." Iran Trade Association. 2008. 3 July 2008. http://www.iraniantrade.org/doinbiz/econ.asp
Kirshner, Sheldon. "Israel's Ties With Iran Have Been Mercurial." CanadianJewishNews.com. 21 February 2008. 3 July 2008. http://www.cjnews.com/index.php?option=com_content&task=view&id=14065&Itemid=86
Melman, Yossi. "How Israel Lost to the Iranians." Iran Press Service. 2006. 3 July 2008. http://www.iran-press-service.com/ips/articles-2006/december2006/iran_israel_oil_071206.shtml
A lower price enables an airline to remain well above the competition.
Economies of scale and scope are vital to the performance of an organization no matter the industry the organization is involved in. An organization can only remain competitive if driven to achieve economies of scale (Bronson & Morgan, 1998). Tactics an organization may adopt to achieve economies of scale and scope will include optimal market coverage, increasing sizes, superior "internal growth" and raised capital (Bronson & Morgan, 1998). Another important consideration for organizations include efficiency. One might define efficiency as "the ratio of inputs to outputs" (Bronson & Morgan, 1998).
Efficiency of an organization may be measured in various ways including by observation through accounting (Bronson & Morgan, 1998). An organization particularly a franchised business location will continually measure efficiency to ensure they are minimizing costs and saving time to help facilitate economies of scale and scope.
Acumen Professional Intelligence Ltd. (2005). "Business Environment - British Airways." Acumen Enterprise, 31, October 2005:
British Airways, (2005). "Global Warming and Aviation." 31, Oct 2005:
Legal, Social, and Economic Environments of New Product Development
There are three basic forms in which of businesses can be organized: sole proprietorships, partnerships, and corporations. There are also many different versions of each form. For example, there are many different kinds of corporations. However, based on the scenario represented for the individual who has an idea for a product a sole proprietorship would most likely represent the ideal form for the individual to get started with and if the product does turn out to be a success then they could always reorganize the business later on. Although the individual has an idea for a product that he believes will be a success he does not have a lot of capital to launch a major product development campaign. Furthermore, although the economy is recovering, the external environment is still plagued with high levels of competition and…
BizFilings. (N.d.). Benefits of Create an LLC. Retrieved from BizFilings: http://www.bizfilings.com/learn/creating-llc.aspx
IRS. (2012, December 31). Limited Liability Company (LLC). Retrieved from IRS: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Limited-Liability-Company -(LLC)
The Wall Street Journal. (N.d.). How to Form an LLC. Retrieved from The Wall Street Journal: http://guides.wsj.com/small-business/starting-a-business/how-to-start-an-llc/
Employer's Attitude: Their Perception And Awareness About Disability
Organizations have a lot to gain from employing people with disabilities, as that improves the perception of the masses and clients alike as being sensitive, reasonable, and conscientious. The team has to be led from the front in this regard by the employers: the heads of the organization (Siperstein, omano, Mohler, & Parker, 2005). The growing demand for labor supply in the 21st century cannot be ignored any longer. The labor market is getting tighter with the supply diminishing owing to many factors (Copeland, 2007). Employers have to consider the fact that employing people with disabilities is not simply a good business and economic decision; it is also a way of building up the reputation of their organization.
The facts point to a scenario where the population growth will be slower than at any previous time. The couple of decades to follow…
Braddock, D., & Bachelder, L. (1994, February 24). The Glass Ceiling and Persons With Disabilities. Federal Publications. Retrieved from http://digitalcommons.ilr.cornell.edu/key_workplace
Bullock, R., Jr. (1993, February). Tax provisions of the Americans with Disabilities Act. (Federal Taxation) [online journal]. Retrieved May 23, 2015, from http://www.cpajournal.com/old/13808661.htm
Conlin, M. (2000, March 20). The New Workforce. Businessweek Online. Retrieved from http://www.businessweek.com/2000/00_12/b3673022.htm
Cook, J.A., & Burke, J. (2002). Public policy and employment of people with disabilities: exploring new paradigms. Behavioral Sciences & the Law, 20(6), 541 -- 557. http://doi.org/10.1002/bsl.515
economic crisis in Europe and the increasing costs for European countries to borrow money and bail out other Euro countries in financial distress. The EU nations that use the Euro have experienced a crisis among certain countries with high debt requiring bailouts for Greece and Ireland and the likelihood that Portugal and Spain may also need a bailout. Postponing the restructuring of high interest debts has led to further crisis rather than resolving any of the problems faced by insolvent countries. Huge transfer payments from the more powerful Euro countries, like Germany, to the failed economies of Greece and Ireland have made investors nervous and led to less investment at a crucial time. The author suggests that the debts of troubled countries need to be restructured now in order to create a sustainable payment to increase confidence and secure future payments.
Creditors will also have to shoulder some of the…
Bamberger, K.. (2010). Technologies of Compliance: Risk and Regulation in a Digital Age. Texas Law Review, 88(4), 669-739. Retrieved January 21, 2011, from ABI/INFORM Global. (Document ID: 1995143041). http://www.egloballibrary.com/egl/html/institutes/1086/homepage/library.jsp
Corder, J. (2009). The Federal Reserve System and the Credit Crisis. Public Administration Review, 69(4), 623-631. doi:10.1111/j.1540-6210.2009.02011.x http://ehis.ebscohost.com.csuproxy.egloballibrary.com/ehost/detail?hid=6&sid=feb1c9d6-ff89-462b-9741-b5b3cfdd54aa%40sessionmgr12&vid=8&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh&AN=42960193
Europe finance: Time for Plan B. (2011, January). EIU ViewsWire. Retrieved January 19, 2011, from ABI/INFORM Global. (Document ID: 2241366821).
Employee Relations Financial Crisis
Managing Employee Relations in the Event of a Financial Crisis
A Look into Management can Effectively Navigate through Adverse Conditions
Austerity Protests (Dowling, 2012)
Employee relations can often be a difficult aspect of maintaining the overall health of an organization. In general, employee relations often refer to the act of fostering productivity, motivation, and employee morale in an organizations human resources pool. However, there are some circumstances in which it is virtually impossible to maintain high levels of morale. One example of this is during a period of economic turmoil. During the global financial crisis of 2008, the world's economy took a sharp turn for the worse. This economic downturn had many implications for businesses and their employees. The level of unemployment rose quickly in many nations and pressure was also applied to lower employee wages.
In the event of such an economic downturn, it is…
BLS, 2012. The Recession of 2007-2009. [Online]
Available at: http://www.bls.gov/spotlight/2012/recession/pdf/recession_bls_spotlight.pdf
[Accessed 12 September 2012].
Business and Marketing, 2009. Consumers in a Recession. [Online]