Financial and Economic Impact of Worker\'s Compensation
The program and concept of Workers' Compensation might appear to be a product of a civilized society and the modern era, but nothing could be further from the truth. In fact, Workers' Compensation has essentially been around for as long as people have been completing task for payment of some form of another, because people have always been getting hurt in some way, on the job. "The history of compensation for bodily injury begins shortly after the advent of written history itself1. The Nippur Tablet No. 3191 from ancient Sumeria in the Fertile Crescent outlines the law of Ur-Nammu, king of the city-state of Ur. It dates to approximately 2050 B.C.2. The law of Ur provided monetary compensation for specific injury to workers' body parts, including fractures.
Organization Behavior International Development and Strategic Management
Every organization wishes to keep its operations on a continuous growing pace in its industry (Barnes, Blake, & Pinder 2009). As a part of its business expansion strategies, it can also aim to target international markets if it possesses the core competencies and financial resources to meet the requirements of this expansion (Bamford & Forrester 2010). International development strategies require business organizations to strategize their policies and procedures in such a way that they not only enable them to compete with the top level competitors, but also ensure a high sales volume and profitability (Kotler, Brown, Burton, Deans, & Armstrong 2010).
To do business in an international market successfully, an organization needs to analysis that market from all the environmental perspectives (Ryals 2008). A situational analysis can be performed to assess the impacts of economic, social, political, and technological forces while Five Forces Model can be used to analyze the competition in the market (Kotler, Brown, Burton, Deans, & Armstrong 2010). Moreover, the organization needs to make efforts to prove itself as a socially responsible corporate citizen in the international market. It strengthens its public image and contributes towards a sustainable future in the industry (Bamford & Forrester 2010). A company should also define the measures for its competitiveness and core competencies so that they can be utilized to operate in the industry in the most profitable way (Hill & Jones 2007).