Difference Between Substitution Effect and Income Effect
The substitution effect states that workers are encouraged to work more when the wages increase. This is because they get more money by working for longer hours and this motivates them to put in more time and effort. This means there is a positive relationship between wage increase and the effort put in by workers. When one increases, the other increases too. Also, the amount of leisure time available for workers goes down because they spend more hours in a day at work. This results in an upward sloping labor supply curve that moves towards the northeast because workers are willing to put in more hours to take advantage of the wage increase.
The income effect of a wage increase means the worker gets more money for the same effort. This means, the worker can enjoy a…… [Read More]
Minimum wage increases have not kept pace with real wages, according to testimony given before the U.S. Senate Committee on Health, Education, Labor and Pensions (Dube, 2013). As a result of what amounts to a declining minimum wage, there is rising inequality mainly in the bottom tier of the pay distribution. Some believe that raising the minimum wage would help to close the gap and reduce inequality. Others argue that raising the minimum wage would only worsen the economic conditions that prevail today, drive employers to lay off workers or offshore more jobs, and drive the prices of goods up for consumers as the cost of labor is passed on to the customer. This paper will examine the impact of increasing minimum wage rates and what effect it would have on employers and employees, the local economy, the global economy and on consumers.
Effects on the Employers and…… [Read More]
Wage Issues and Economic Supplements
The interview for this assignment was conducted with the human resources manager of Ford Motor Company. The company has prolonged its partnership with the United Automobile Workers union. The interview questions and their answers are listed below.
How do you rate the wage level in your company in relation to the minim wage?
Ford Motor is a company that attributes its success on the quality of its manufactured vehicles. These high quality standards can only be achieved with the quality input of our workers. Therefore, their performance becomes connected with their job satisfaction, which relies on the wages they receive for their work. We want high quality work, and we pay higher than average wages.
Q2: Are there any types of jobs within your company where you pay minimum wages?
A2: There most certainly are. We have positions where unskilled workers are required. For such…… [Read More]
Wage and Benefit Determination
Individuals supply labor to the market at a price called the wage rate of labor. How much labor an individual supplies is related to his level of non-labor income, and cost benefits determination of time spent at leisure, vs. work.
A union can raise the wages of those who continue to be employed in a competitive labor market at the expense of the level of employment. So if the competitive equilibrium is at E0 and the wage is w0 employment is q0. If a union enters this market and sets a wage of W1, a new equilibrium will be established, e1. The supply curve has become w1xs0. At the new wage, W1, there will be q1q2 workers who would like to work but whom the industry will not hire. Employment will be q1. The decrease in employment due to wage increase is q1q2
Minimum wage is…… [Read More]
The employer, according to the rules laid out by the IMSS, is expected to contribute at least a minimum amount according to the risk factors involved in the job into the fund, that is, a sum of 17.42% of each worker's wage. Basic health care, medical facilities, accident care, as well as care for illnesses are all taken care of under the social security fund. In addition, the employer is expected to pay about 5% of a fixed payroll tax into a fund that will help the employee find a home of his own easily. This fund is known as the 'National Fund for Employee Housing' or INFONAVIT. "The goal of this federal program is to provide benefits allowing employees to more easily acquire a home"
2% or 25 times the minimum wage, of a worker's salary must also be paid into the SA or the etirement Savings System under…… [Read More]
The film demonstrates the challenges that lower and working class parents have to face as they try to raise children on salaries barely big enough to pay basic living expenses. Mary almost found herself unable to afford a roof over her and her children's heads.
Gender is treated with due realism in Waging a Living, which does illustrate the special struggles that women face. Being a single mother is a major issue correlated with poverty. Women face challenges not only when they are single mothers, though. Access to promotions and positions of power is systematically more difficult to acquire for women, who still earn less than their male counterparts. Gender bias is built into the system.
Among the possible policy changes that could reduce income disparity and reduce the numbers of working poor in the United States, one main one suggested in Waging a Living is providing universal access to…… [Read More]
raising minimum wage relates supply demand analysis. • If raise minimum wage businesses compensate raise workers? • According United States Department Labor, Minnesota's current minimum wage large employer's small employer's hour? • How hard working people expect ahead minimum wage low? • Due cost living minimum wage increase? This a comprehensive paper a minimum library resources.
aising the minimum wage: Supply and demand analysis
Although there is a great deal of disagreement about how to regulate the minimum wage in America, statistics indicate that the minimum wage has not been keeping pace with inflation. "The federal minimum wage is just $7.25 an hour and hasn't been raised in three years. But a raise is much more overdue than that. If we look at the minimum wage 44 years ago, and simply adjust it for inflation, it would be more than $10 today" (Weisbrot 2012). However, there is tremendous resistance to…… [Read More]
Human Resources Management: How to Improve Minimum Wage Policy Management in Hong Kong
The objective of this research is to analyze the advantages and disadvantages of minimum wage legislation in Hong Kong. When hike minimum wage can help lower skilled worker. This study will conduct an evaluation of the minimum wage hiking and how it can help the lower skilled workers and will additionally compare benchmarking minimum wage legislation with other countries, for example the standard of minimum wage.
Following minimum wage legislation the primary problems that employers and employees faced included for employers the turnover rate of lower-wage workers and how to reduce the cost of training that affects the quality of service and the working attitude and behavior of employee lack of enthusiasm. For employees problems included the increase in the unemployment rate and reduction in fringe benefits including such as medical insurance. Included in this study will…… [Read More]
Even though minimum wage has been around for many years, and was established to make sure that working people could survive and pay their bills, there are still many problems with it. This paper address both the pros and cons to raising the minimum wage, discussing not only how people can be helped by the increase in pay, but also how they are ultimately hurt by it to a larger degree. Organized labor usually fights to raise the minimum wage, but every time it goes up, prices follow, until those that make minimum wage end up worse off than they were before their wage increase.
Some states also have minimum wage laws, and often the state minimum wage is higher than federal minimum wage. hen the federal minimum wage is raised, states are at a loss with whether to raise theirs or not, and sometimes employers go out…… [Read More]
Why the minimum wage should not be abolished in the United States.
There are diverse issues that have been debated by politicians and critics concerning the minimum wage in the United States. Some say that the minimum wage causes an increase in the unemployment rate. In turn, it causes negative effects on the nation's economy. However, the truth on this proposition is still to be proven yet. Taking the side that the minimum wage should not be abolished in the United States, I have the following arguments to present. Most of these are obtained from debates that have been conducted concerning minimum wage, as well as from available articles providing reasons why minimum wage must stay.
Much of the arguments saying that minimum wage must be abolished argue that it causes a high unemployment rate. There are a number of studies, however, that present evidences that a minimum…… [Read More]
Many of these jobs are therefore filled with illegal immigrants, who are more than willing to work for the low wage of the current minimum wage because it is still better than what they would be paid in their home country.
Now, if the reason for the need for minimum wage workers is because these jobs do not pay enough, it would be reasonable to argue that by increasing the pay of these positions there will be more of an incentive for legal citizens and/or residents to take the jobs. Although most people are not willing to work for the current minimum wage, many will be willing to work for the $7.25 proposed rate. This will fill the vacancy of minimum wage jobs that have been hired out to illegal immigrants. If these jobs are filled by legal workers, then there will be less work opportunities for illegal immigrants. If…… [Read More]
A minimum wage also gives businesses incentives to use fewer employees and to look for less expensive labor substitutes such as automation through technology. and, the minimum wage can force many small companies who operate on thin profit margins out of business.
Thus, the minimum wage, an artificial wage subsidy for unskilled workers, means job losses. This is a commonly accepted view by most economic experts. According to a 1978 article in American Economic Review, 90% of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers (Kearl, J.R., et al. (1979). During troubling economic times like today, it's better to have workers employed at the rate the market will bear than not at all.
Kearl, J.R., et al. (1979). A confusion of economists? American Economic Review 69: 28-37.
Should the minimum wage be abolished (i.e. reduced to $0.00)? BalancedPolitics.org. http://www.balancedpolitics.org/minimum_wage.htm… [Read More]
Compensation has become a very contentious issue within the developed world of late. Economies are continuing to struggle. The EU has created a form of quantitative easing designed to restore wage growth and stimulate the economy. China is slowing as it transitions into a consumer driven economy as oppose to an export driven economy. Brazil is struggling with massive inflation and unemployment resulting in a recession for the country. America continues to grow but only at a 2% rate. This is well below the 3% GDP growth that many economist and experts are expecting. The world is lagging behind its historical trends of growth and development. As a result, compensation growth will naturally lag. Issues abound about how to properly stimulate compensation and wage growth throughout the world. The issue is particularly important for America, with 70% of GDP resulting from consumption of goods and services. This consumption will not…… [Read More]
The company can also allow a position to go unfilled for a time to increase its leverage; the unskilled worker would starve trying to stall for a higher wage. This again invalidates the argument that the free market can set wages effectively -- it cannot given the imbalance of bargaining power between workers and businesses. The minimum wage serves a specific economic role of balancing the bargaining power between workers and businesses.
One must also take into consideration the effect that the minimum wage has on the overall economy, and what would change if the minimum wage was abolished. By providing workers with a guaranteed living wage, the minimum wage ensures that they are able to purchase goods and services. Without a living wage, they would not purchase to the same level. If the minimum wage was abolished, companies would not lower the prices to reflect lower costs; rather, they…… [Read More]
Deferred Wages Falling
The policy and practice of deferred wages in the form of retirement plans including 401(k), 403(b) and so forth have shifted a lot since 1990. In the prior decades, it was a common trend to have a defined benefit plan where all the risks of the money not being there were borne by the employer and the benefit was ostensibly borne by the employer. Since 1990, there has been a noticeable shift from defined benefit to defined contribution where employees must contribute more (if not a lot more) to their own plans and the benefits and money pot present at the end of a work career is by no means guaranteed or assured. It will probably be there but possibly not (Sloane & Witney, 2010).
As for my opinion surrounding all of this, it is clear that firms have said "enough" to paying more and more money…… [Read More]
Economists have consistently argued that the very existence of a minimum wage reduces employment opportunities for low wage workers. A small business, for example, may have work that needs to be done but can't afford to hire a minimum wage worker; that is one less job that will be offered and, perhaps, willingly taken. ecent research has supported this contention (Turner, 1999).
eduction of poverty is the crux of any argument for enacting a minimum wage, and yet in the 72 years since the first minimum wage was created in the U.S., poverty rates have not been substantially reduced (Joint Economic Committee, 1995). Instead, the existence of a minimum wage has been shown to offer opportunities for a few as they use entry-level employment as a stepping stone (Kersey, 2004), while at the same time negatively impacting some of the socio-economic groups most in need of assistance in the U.S.…… [Read More]
Only 2.1% of minimum-wage workers belong to a union, versus 12.0% of the overall working population. Nonetheless, labor unions fight passionately for a higher minimum wage (Sherk).
When the minimum wage rises, it becomes more expensive to hire unskilled workers. This makes the decision to employ highly paid and highly skilled workers, instead of unskilled workers, more attractive to businesses, and so businesses want to hire more skilled workers (Sherk).
With skilled workers in greater demand, their job opportunities and earnings rise. Unionized workers tend to be more highly paid and highly skilled than the population as a whole and, so, benefit from this effect. Raising the minimum wage could actually raise the earnings of union members who compete with minimum wage workers by 20 -- 40%. Meanwhile, non-union, low-skilled workers' earnings actually fall due to reduced working hours and fewer job opportunities (Sherk).
So the fact that unions are…… [Read More]
While it will certainly be helpful, especially given the cuts in student loans, for young people trying to work their way through college with their parent's help, a raise in the minimum wage is simply one step in what must become a greater war on poverty and its causes. Teach a worker to fish for a lifetime, not merely to eat a bit better on a slightly better wage for one day. Increase access to job training, institute a health care system so that low-wage workers will not have to divert their salaries to such costs, and create more access to safe and affordable day care to make the increase in the minimum wage meaningful, and not just minimal improvement.… [Read More]
.....social injustice and inequality. First, literature related to the fundamentals of discrimination and descriptions of gender discrimination are discussed in the literature. Following a detailed discussion of what the literature says about gender discrimination, the literature review shifts toward the quantifiable effects of gender discrimination in the workplace. Effects are examined both in terms of measurable effects on organizations and individuals.
Fundamentals of Discrimination
Discrimination is unfortunately pervasive in the workplace. Described as an "inaccurate perception of differences," discrimination can be based on independent variables like race, gender, language, and other demographics (Cleveland, Vescio & Barnes-Farrell, p. 149). The differences perceived are "inaccurate," and also have a direct impact on status, access to power, and access to avenues of promotion or pay increases. Most literature frames discrimination as being "subtle and covert," well concealed from the realms of legal scrutiny, and often difficult to define precisely (Marchiondo, Ran & Cortina,…… [Read More]
he ramifications for this in the economy would be that in order to maintain profits, prices would need to increase in order to match the rise in wages that stemmed from sustained constraints on the labor supply.
he Corn Laws were introduced in 1815 as import tariffs, designed to protect corn prices in Great Britain from lower-priced imports. Ricardo naturally opposed the Corn Laws, as he believed in free trade as espoused in his theory of comparative advantage. Ricardo viewed the corn tariffs as unnecessary -- if other nations can product corn better, labor would need to be repositioned in Britain to other activities in order to trade with those grain-producing nations.
he Corn Laws also had an adverse impact on wealth distribution. At the time, unemployment was high in Great Britain so it was more likely that usual that the iron law of wages would hold, given the surplus…… [Read More]
This has caused many of the managers of these companies to go without a break for years and some of them have been without an extended holiday for four-year. The valid point here is how long with these managers be able to continue working like this and the effect it is going to have on the other aspirants for such job functions. The health worries and job monotony would definitely lead to a lesser number of skilled workers willing to opt for such jobs and this will only increase the shortage of skilled workers for these kinds of jobs in the near future and thereby cause a reduction in the flow of offshore jobs to India. (Future Projections and Concerns)
There are definite indicators that the flows of jobs from the United States of America to the low wage countries like India and China slowing down first and then…… [Read More]
" Nurses in Indiana are also represented by the American Nurses Association, headquartered in Washington, D.C. And the International Council of Nurses, based in Geneva, Switzerland. These organizations now investigate health facilities and help control the wages of nurses.
Governments can sometimes improve market outcomes, according to the 7th principle of economics. The state government is busy helping improve the shortage situation in the state of Indiana. The Indiana Department of Workforce Development has recently developed something called the Strategic Skills Initiative (SSI), which has identified three occupations which may develop shortages. The three occupations include registered nurses; the other two are pharmacists and pharmacist technicians. If it follows national trends, the largest shortage is expected to be in nursing, where there is a desperate need for 250 more workers in the state. Because of this, SSI is giving funds for adding faculty to the schools of nursing at Purdue…… [Read More]
pay good wages I a lot money; I a lot money I pay good wages." (obert Bosch) Explain quote, means . Using concepts textbook, (Contemporary Management, 7th Ed. Gareth . Jones & Jennifer M. George) apply explain managerial significance.
The quote that obert Bosch said is "I don't pay good wages because I have a lot of money, I have a lot of money because I pay good wages." What he meant by this is that the salaries he paid his employees were not the result of his wealth, but his wealth was the result of paying good salaries to his employees. In other words, he valued and acknowledged his employees' work.
The success of obert Bosch and his businesses are relied on his management skills. This refers to innovation, but also to people management skills. Most of obert Bosch's businesses were innovations, technological advancements. But there are…… [Read More]
Fathers in a Dual-Wage Family
If media ever managed to convince you that fathers in a dual-wage family are now as involved in child rearing and nurturing as mothers, it is high time you consult some important research findings for a reality check. While fathers have definitely started sharing household and child-rearing responsibilities, the percentage of their involvement is dismally low.
As mothers continue to increase their involvement in outside paid employment, fathers are required to share family work equally with women so that both can spend equal amount of time at work and home. Unfortunately, this has not been the case as women's participation in the workforce increased. Fathers spend far less time with children than mothers do. Mothers almost do double the work in a dual-wage family as men's involvement in household chores increases at snail's pace. According to research, while women in two-salary homes spend 90 hours…… [Read More]
The foremost reason cited for pessimism with regard to global arms trading is technological smuggling, overseas systems’ reverse engineering, and the intense merchant rivalry when it comes to delivering more superior offset agreements, increasing advanced weapon manufacture capability worldwide. The above trend has brought about a significant decline in the need for buying on the global market (Naylor, 2004). One may witness synergy between trade of illegal imports, weapon proliferation and political revolts. On the face of it, an abrupt decrease was apparent in global arms trade following the Cold War. But if one delves deeper, one will find several reasons suggesting the weapon proliferation issue hasn’t dwindled similarly. One factor is, decreased measured weapon flow has accompanied a seeming growth in arms sales via the global black market that is not officially recorded.
Furthermore, a mere analysis of total value fails to account for the dangerous move in reasons…… [Read More]
globalization increased and standards of living around the world went up and with the expansion of industrialization in many less developed countries around the world, the demands of the automotive industry around the world increased significantly. This resulted in a worldwide boom in the international automotive sector with many individual countries entering the global automotive market as potential producers. As a result, the international competition in the automotive sector grew more aggressive over a period of time.
The sharp increase in international competition in the automotive industry during the recent years and the fact that automotives are not a 'Fast Moving Consumer Good' made, the countries involve in automotive production realized the growing need to stay competitive. The need to maintain an absolute competitive advantage and constant innovation, research and development was inevitable. Moreover, the international automotive industry was dominated by a handful of big players of the likes of…… [Read More]
The cost for processing a drug court case through the court system is only a fraction of the cost for processing criminal drug cases through the court system. Furthermore, the cost of drug court and other drug treatment for drug offenders is only a fraction of the cost for imprisonment of these individuals. Drug offenders finishing alterative drug court or other treatment programs have been found less likely to have repeated charges and convictions of drug offenses and to have longer abstinences from use of drugs. Finally, in terms of costs to society that cannot be measured in monetary terms, the alternative sentencing of drug offenders to drug courts and other treatment programs will end the breakdown of society that has been witnessed due to imposition of prison sentences on drug offenders. The research conducted in order to prepare for the debate and in order to complete the research within…… [Read More]
This is the case in northern Europe and Canada, where minimum wages are more or less reserved for students. Over the long run, American companies are forced to turn to innovation and American workers are driven to improve their education. Only in the short run do you see suffering in terms of job losses among workers who refuse to upgrade their skills and companies who insist on competing on the basis of price against foreign firms with deeply-embedded cost advantages.
If the price floor were eliminated, the American economy would ultimately suffer. In the short run, firms would be able to hire more people, but at lower wages. This would create jobs, but would have a negligible impact on purchasing power as companies would not spend more on wages, just spread their wages around to more people. There would be significant downward pressure on real wages. For many firms, however,…… [Read More]
Transfer payments include welfare ($5) and UI ($2). Thus, net taxes are 12-7 = $5.
A c) Total planned investment is the new capital stock, so the increase in capital stock, plus depreciation. In this example new capital stock = 103-100 + 7 = $10.
A d) Real GDP = (C + I + G) / (1 + r) = (50+10+5) / (1.06) = 61.32 e) Total savings = Disposable income - consumption. Disposable income = GDP - Net Tax. Thus, DI = 65-5 = 60. Total savings = 60-50 = 10 f) Total leakages = Net taxes + Savings = 5 + 10 = 15 g) Total injections = I + G = 10 + 5 = 15
8-5) if the capital stock decreases, workers will be less efficient, which will reduce the production function. However, companies will adjust be reducing demand for labor. This will increase worker productivity.…… [Read More]
United States has waged a "War on Drugs." Within this endeavor the nation has passed and implanted some extremely tough laws regarding drugs, on a local, state and national level. The laws are meant to act as a deterrent for those who abuse drugs by way of sales, manufacturing and use. The laws send people to prisons for a long time as well as create probation and parole status for many who violate the laws.
The belief is that stricter laws will reduce the number of drug offenses and drug use in the United States. Those who draft and pass the legislation for tougher drug laws believe that the fear of jail and other punishments will deter people from drug use, manufacturing and sales. While this has been going on for the last few decades the nation has continued to wrestle with drug issues. It is unclear whether the tough…… [Read More]
Federal Government has increased its presence in many ways in the last decade and has supplied much of the economy with its own purchases. These government acquisitions are important because they represent the collective buying power of the American people. The purpose of this essay is to examine the system of regulation that supplies the rules to government purchase entitled the Federal Acquisition egulation (FA). To demonstrate the practical usage of this regulation this essay will use four different types of contracts and investigate the details of these rules creating effective, efficient and accountable acquisition planning.
Fixed Price Contracts
The FA's Subpart 16.2 supplies the necessary information about these types of purchases. According to the text, " Fixed-price types of contracts provide for a firm price or, in appropriate cases, an adjustable price. Fixed-price contracts providing for an adjustable price may include a ceiling price, a target price (including target…… [Read More]
Compensation Case Study
After reading attached pdf file, answer discussion questions listed end case study ( discussion questions). The answers demonstrate analyzed issues. In addition, format case a formal writing includes developing introduction conclusion essay format.
Compensation case study
The police are charged with maintaining law and order. They are also charged with protecting the citizen's life and property, and they are on call at all hours. The police need good wages commensurate with their responsibilities if they are to perform their duties as expected, which will ensure that they are able to deliver on their sworn duties. The arbitration of wage disputes ensures that the city council and the police association will have the opportunity to present their cases, and a neutral party gauges them based on their merits. The arbitrator will then offer recommendations to both parties. The arbitration panel will make considerations based on the…… [Read More]
This is mainly through lessening the marginal propensity to consume and through magnifying the political polarization that has already resulted in poor economic policing within the country.
The other consequence of increase inequality in the distribution of income in the country is that the government's response to the financial crisis worsens the situation through shifting liabilities from private banks to taxpayers (Lynch par, 45). The shift in liabilities in turn contributes to the increase in the total domestic non-financial sector debt, which leaves the economy to increased vulnerability to future shocks. The probability of future financial crises is worsened by the fact that income inequality may contribute to recurring crises as leverage is yet to improve significantly.
Reduces Life Expectancy:
The third consequence of the increase in income inequality in the United States is that the country can no longer boast of longest life expectancy like other countries…… [Read More]
Heritage scholars obert ector and ea Hederman found that only a little more than one quarter worked for 2,000 hours or more. They suggested that poverty in America was less of a material deprivation and more of emotional and spiritual loss, the awareness or knowledge of one's dependence on state and federal bureaucrats and a loss of self-esteem resulting from the knowledge of self-insufficiency. The working poor, on the other hand, are capable of facing their future with optimism and confidence, no matter how little they earned. It was the control they had over their lives, which translated into their contribution to the economy (Kersey).
An opposing view was suggested, wherein an increase in the minimum wage would benefit low-income workers, in general, and those below the official poverty line, in particular (Economy Policy Institute 2006). If and when the proposed minimum wage increase was approved, the wages of approximately…… [Read More]
Salary Inequities for Nurses in Florida
Inequities in Nurses' Salary Schedules
In the decade between 2004 and 2014, the estimated number of open positions for registered nurses was anticipated to be 2.1 million. This number reflects both attrition and the growth of the healthcare and medical fields that are responding to an aging national population. Best practices in staff recruiting in the medical arena call for an "adequate supply of nurse and high-quality patient care through competitive, transparent wage-setting, collective bargaining, and nurse/patient ratio standards" (Lovell, 2006).
An interesting phenomenon has occurred in research on the state of nursing in the U.S.: just over 20% of the nearly 50 studies conducted to analyze the nursing workforce recommended wage increases in order to attract more nurses into professional preparation programs and into the workforce. The U.S. Government Accountability Office conducted a study to look critically at the key factors that influence…… [Read More]
This is circular logic that appears to dehumanize our freedom and minimalize our existence. The atomization of the responsible self is unimaginative and restrictive, I'll choose something else to listen to if I have a choice.
Work itself is exploitative in nature. Only when a person can work for himself or herself can exploitation be limited to being self-imposed. Labor and work do not belong to anyone, they are mere expressions of idea, to claim them as a tangible thing is confusing and appears to have a disingenuous motive.
Perfection is in the eye of the beholder and even though there are characeristics of a perfect market such as large amounts of buyers and sellers and a shared responsibility, there is undoubtedly some flaw within the system. Perfect markets would require no exchange of money, only ideas as money itself is a market within itself causing…… [Read More]
The act contains a prescription drug entitlement. This is accomplished by providing subsidies for employers to convince them not to eliminate prescription drug benefits for retired workers. Further subsidies were made to prescription drugs for Medicare beneficiaries. Extra money was given to rural hospitals. The act also provided for a trial of partly-privatized Medicare.
Another result of the act was the creation of health savings accounts for workers. These replace company-run health reimbursement arrangements, and the HSAs offer advantages over flexible spending accounts, especially because the former rolls over where the latter does not. This part of the act was designed to replace the Medical Savings Account system. Lastly, there were internal changes such as with respect to the way claims are processed.
This law is a good law. hile expensive for the federal government because of its prescription drug provisions, it introduced the HSA system, which represents an improvement…… [Read More]
Human esource Management class focus area. Here questions: 1. Your company plans build a manufacturing plant undecided locate .
New manufacturing plant
The opening of a new manufacturing plant in a different location is pegged to a series of uncertainties and risks. In order to minimize these risks, it is necessary for the economic agent to consider a wide array of elements in making the final decision of the location. At this level, a notable role is played by the purpose of the new location. The two more common reasons for opening new manufacturing plants are either a desire to expand production, or a desire to cut costs and as such support profitability.
In the first scenario then, more emphasis in choosing the location would be placed on the identification of a new site that possesses some comparative advantage in the field of manufacturing. This advantage could refer to skilled…… [Read More]
Furthermore, existing vulnerabilities of the airline industry are not taken into consideration until a disaster occurs. Lastly, the September 11th Security Fee introduced by the Department of Homeland Security was considered by many "as a beneficial trade off for their personal safety eventually," having as a direct consequence a rise of the airline industry.
Gregory Mankiw (2004) Principles of Economics, 3e, Mankiw
InnovativeThinker. (2007) Economic Profile of the Airline Industry. Retrieved Feb 1, 2008, from Associated Content, Inc. Web site: http://www.associatedcontent.com/article/435732/economic_profile_of_the_airline_industry.htm
Wei, S. (2006). Analysis of aggregate Passenger Routes in Air Travel: An Atlanta-ased Study. Southeastern Geographer, Volume 46, Issue 1, page 139. Retrieved Feb 1, 2008, from web site: http://proquest.umi.com.ezproxy.apollolibrary.com
Recent Policy Initiatives to Raise Low Pay. (2004). Retrieved Feb 1, 2008, from ACORN.ORG: https://www.acorn.org/index.php?id=203
FRSF Economic Letter. (January, 2002). Airline Competition. Retrieved Feb 1, 2008, from Olin usiness School- Washington University: http://www.olin.wustl.edu/faculty/gowrisankaran/pdf_papers/airline_competition.pdf
Virgin Territory (2006, September 30).…… [Read More]
Staffing at Piedmont Airlines
Finding solutions at Piedmont Airlines
Overview of Organization
Piedmont Airlines is a fully owned subsidiary of U.S. Airways. U.S. Airways is the 6th largest airline in the United States (Piedmont Airlines, Inc., 2011). Piedmont flies 440 daily departures to 55 cities throughout the Eastern United States and Canada. They operate 44 DeHaviland DHC-8 Turbo prop aircraft as their primary fleet. The headquarters is based in Salisbury, Maryland. They employ nearly 4000 aviation professionals (Piedmont Airlines, Inc., 2011).
Like many organizations, Piedmont is facing problems with employee morale. Low employee morale is closely linked to high turnover rates in many organizations. Low morale also leads to low productivity. Employee satisfaction is one of the most important factors in maintaining an experienced workforce. Poor morale leads to excessive employee absences and a higher absence rate (CCH, 2007). This costs the company money and lost time. It also has…… [Read More]
benefit-Costs of pursuing an MA
Even though each of us has his/her own perspective of happiness and sense of life, we all agree that the integral part of these are the financial stability complemented by personal professional success. That is why we all strive very hard to achieve ambitious financial and professional goals and choose our own paths to them. ut through historical and empirical evidence it has become clear that on average, the better education one has, the better are one's chances of fulfilling the boldest dreams.
We, Americans, spend millions of dollars on our education, which we consider as investment in our human capital. According to the public opinion research conducted by the Educational Testing Service: "Nearly all (96%) adults believe that a college education is a good investment, including 72% who say it is a very good investment."
I have achelor of Sciences degree from Hampton University…… [Read More]
Health Care Economics
Monopsony power is defined as a situation where there is only a single buyer in the market (Investopedia, 2014). In a monopsony situation, all of the bargaining power rests with the buyer, such that the seller is a price taker, and also a taker on term as well. The buyer therefore pays what it wants, and on whatever terms. A monopsony is an unusual natural market condition. In some situations, monopsony is related to monopoly, a good example being health care in Canada, where the government is the employer. With a government monopoly, there is also only one buyer for health care supplies, and health care labor. Unions can also constitute a monopsony in labor, in situations where non-union workers are prohibited. One must work to the terms that the union has negotiated, or not at all. This paper will look at the nursing shortage in the…… [Read More]
U.S. Government and ethical issues of outsourcing
Description of Ideas-5
Analysis of Concepts-6
Evaluation with easons-7
U.S Government and Ethical Issues of Outsourcing
USA is at present one of the fastest growing countries as a target for outsourcing. Of late outsourcing which was once the buzzword of corporate America has been looked down upon in recent years because of growing concerns of ethics involved in outsourcing the same. Majority lament the outsourcing of jobs to low-wage economies like Asia, Philippines and elsewhere. In a slowing economy with unemployment figures hovering around 10%, outsourcing jobs is viewed as extremely undesirable. However some experts are of the opinion that outsourcing per se is not bad as it helps business to lower costs to remain in business, particularly during periods of recession. When outsourcing permits a company to cut down on costs and make production at less cost, it augurs well…… [Read More]
Union address is explicitly mandated in the U.S. Constitution, Article II, Section 3: among the President's enumerated duties, it is required that "he shall from time to time give to Congress information of the Sate of the Union and recommend to their Consideration such measures as he shall judge necessary and expedient."
The applause and reaction during the 201 State of the Union address was frequently, but not always, partisan. Obviously certain issues appeal to both parties: Obama received bipartisan standing ovations when he discussed issues on which neither party would dare seem less enthusiastic than its rival (economic competition with China, support for Israel, social mobility through hard work). Likewise, at the speech's conclusion, the overwhelming bipartisan standing ovation for the injured Army Ranger, Cory Remsburg, indicates both parties' desire to be seen supporting injured veterans from Iraq and Afghanistan. However, on many political issues where the parties are…… [Read More]
This implies that an increase in the wage of one member of the household gives rise not only to changed incentives for work on the market, but also to a shift from more to less time-intensive product on and consumption of goods produced by the household. But as noted by the Nobel-prize winning 20th century University of Chicago economist Gary Becker, as real wages increase, along with the possibilities of substituting capital for labor in housework, labor is released in the household, so that it becomes more and more uneconomical to let one member of the household specialize wholly in household production (for instance, child care). As a result, some of the family's previous social and economic functions are shifted to other institutions such as firms, schools and other public agencies. This creates more jobs, but also means that more luxury jobs may become necessities, such as maids. (Gary Becker,…… [Read More]
Not only are they crucial for the movement of people, but they are crucial for the rapid movement of time-sensitive goods. Therefore the government has an interest in the survival of the industry. Government can and has involved itself through monetary policy in sustaining or resuscitating struggling airlines in order to maintain the overall strength of the industry.
Taxation is another area where governments affect the industry. This again relates to the tight margins, as taxation represents a key expense for airlines. Changes in the tax regime directly affect airlines' after tax profits. The government can encourage or discourage the industry based on its taxation policies. The IATA believes the airline industry to be more heavily taxed than some of its substitutes, and has an entire program to deal with the issue of taxation, highlighting taxation's relevance to the industry.
Another way in which fiscal policy can impact the industry…… [Read More]
Dibsa should turn towards the market-based pricing strategy, which sees the implementation of competitive prices for the 3-in-1 Lawnmower. The selection of this combination of strategies would generate several impacts upon the company, but most of them would be obvious at product lifecycle level. In this order of ideas:
The sales revenues would be significantly high throughout the first six months and they would allow the company to cover for the large costs incurred in the manufacturing of the product as well as register profits; they would however decrease with the implementation of the market pricing strategy and the 3-in-1 Lawnmower would metamorphose from a star product into a cash cow
The costs incurred in the manufacturing of the new lawnmower have already begun to decrease and will continue to do so; the actual impact of the pricing strategy is limited, with the specification however that these costs will not…… [Read More]
As, it declined from: 24% (in 1994) to 16% (by 2008). While at the same time, wage increased from $3,814 in 1996 to $7,870 in 2009. The below table is illustrating the overall scope of these changes in income during this time. (Villareal, 2010)
Annual Income Levels in Mexico from 1996 to 2009
These different figures are important, because they are showing how once NAFTA was ratified, is when it would slowly address inequalities inside Mexico. This is an indication that the abandoning of the classical model would have a positive impact on the country. (Villareal, 2010)
Therefore, this is highlighting how there is a causal relationship between the low wages and lack productivity in Mexico in comparison with the U.S. Once the views on trade began to change, is when there was a transformation in these…… [Read More]
advise the independent living home management to do? Should they oppose unionization?
Happy Trails should oppose unionization because it can create many problems for the nursing home in the form of higher wages, frequent strikes and paid vacations etc. However it will not be possible to oppose unionization without offering employees some additional attractive benefits. It is impossible to avoid unionization without offering some benefits like overtime allotment and bonuses. The reason we say this is because if employees are asked not to join unions, they may actually become more resistant to the organization's request and resent such an order. For this reason, Happy trials needs to be proactive and must reach its employees before the union has had a chance to reach them. Unions tend to fight for higher wages and other benefits but since Happy Trails has been a cost cutting program and cannot afford to raise wages,…… [Read More]
In terms of the flexible working schedules, these would take the form of allowing the staff members to work more hours in fewer days or fewer hours, spread across more days. Basically, the 8-hour strict schedule structure would no longer be implemented. The requirement with this incentive is that of ensuring employee collaboration and making sure than when an employee wishes to make use of the flexible working schedule, another staff member is able and willing to replace him. The schedule decisions would generically be subjected to mutual agreements between the staff members, approved by the manager.
The flexible working schedule has the ability to increase employee on the job satisfaction due to the fact that it allows the individual to better balance his personal and professional responsibilities. The individual will not for instance be on the job and worry about a sick child or a parent in need, but…… [Read More]
XYZ Corporation has decided to form a new initiative and invest $100,000 into a marketing and advertising blitz in order to spur sales over the next 5 years ( Years 2-6). Currently, sales are at $1,747,698.00 and Sales Expenses run just under 1%, with total sales and operating expenses at 24%. There is some long-term debt, and the $100,000 marketing push will be done in year 2, with years 3-6 increasing marketing expenses returning to year 1 levels (with added 10% per annum for inflation). One assumption is that in years 3-6, the extra funds from sales will reduce debt, and thus interest expense. No new equipment purchases are planned during this time, but amortization is unknown. Making several assumptions, the Board wants to know if this $100,000 investment will increase profits and make the company more financially sound within the next five years.
One way we can look at…… [Read More]
Operational Plan and Correlating Budget
The 4 West is an organization that delivers health care for the community. ecently, the organization has decided to replace the existing medical-surgical unit into a new acute care oncology unit. The oncology is a specialty in medicine that deals with cancer. The CNO (Chief Nursing Officer) has informed the nurse director that 4 west is to become a specialized oncology unit. Since the hospital is planning the transition from the medical-surgical unit to the oncology unit, the hospital will need a new operational plan and correlating budget to assist the hospital to deliver high quality healthcare at lower costs.
Objective of this project is to develop an operational plan and correlating budget for the hospital to assist in effective transition from the medical-surgical unit to the oncology unit,
Project Details and Data
To start the budget plan, it is critical to use…… [Read More]
Merit wage increases are awarded to employees for their ability to meet stated goals.
4) Because employees define their own goals and deadlines, they may not be appropriately aligned with organizational goals and employees may set them too low just so they can meet them. Equity is part of the salary increase process, but comes only after allocation of merit. This could mean that serious inequities in pay go unresolved. Employees are rebelling against the system, as evidenced by overrides of dates and resistance to entering goals.
5) Management should work more closely with employees to set goals and the notion of team goals should be incorporated into the system to foster team work. Equity should not take a back seat to merit; adjustments should be made to resolve inequities, particularly those that may be related to gender, race or age. Once employees have submitted goals, they should be frozen…… [Read More]
Managing Organisational Culture
The values and behaviors that contribute to the unique social and psychological environment of an organization make up the organizations culture. Organizational culture is the summation total of an organization's past and current suppositions, incidents, viewpoint, and values that hold it together, and is articulated in its self-image, inner workings, connections with the outside world, and future prospects.
In dealing with the management of organisational culture, it is firstly essential to recognize as fully as possible the characteristics of the existing or new target culture to include the myths, symbols, rituals, values and assumptions that strengthen the culture. Organisational culture is not something that can be viewed very easily it is consequently quite hard to replace it. Usually when certain leaders form a company, their values are converted into the actions of the members of that organisation. When other leaders take over, it may not…… [Read More]
Because the instructor appears not to understand what is causing the drop in attendance and overall performance, the teacher should attempt to find out why students enrolled in the course in the first place, how they feel about the current subject matter and assignments, what they expect, and how they would change the subject material. The instructor should then adapt the course materials and assignments to the students' interests and needs. Further, the instructor needs to make students feel more involved with the class by encourage them to share their ideas and knowledge and encouraging greater student participation through techniques such as debates, brainstorming, and discussions.
The managing director should not automatically assume that fear caused by Sept. 11th is the reason behind the high employee absenteeism. There could be many other possibilities. First, the director should conduct a confidential employee survey to assess the underlying…… [Read More]
Human esources: Fair Labor Standards Act
An Examination of the Fair Labor Standards Act of 1938 and Its Implications for American Workers Today
Although most Americans take for granted the wide range of social programs that are in place for their protection, many of these initiatives are fairly recent in origin, but one that has been around for quite some time is the Fair Labor Standards Act of 1938. The legislation established a minimum standard wage and a maximum work week of 40 hours in industries that were engaged in interstate commerce. The implications of the Act were profound, and today, in what has become a classic pattern over the years, calls for increases to the federal minimum wage are followed by impassioned cries from industry leaders that such an initiative will do more to harm business than it will to help minimum-wage workers. ather than routinely bankrupt America's businesses,…… [Read More]
Deutsch, Coleman and Marcus (2006), conflict is an inevitable consequence of the human condition. Conflicts betweens humans frequently involve competition over scarce resources, but history has shown time and again that conflicts can occur for virtually any reason and that some people thrive on conflict while others actively avoid it. One recent conflict that has gained national attention has been the series of strikes by fast-food workers seeking a higher minimum wage. These strikes have gained momentum and the most recent one in December 2013 affected fast food establishments in more than 100 American cities across the country. This paper provides a description of this conflict situation, a description of the social context and participants, and an identification of antecedent conditions to the strikes. An identification of the behavior reflecting the cognition and personalization by individuals of the conflict and identification of a relevant conflict management model, the Thomas-Kilmann Conflict…… [Read More]
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…… [Read More]
Now, the last one involves the balancing competitiveness with internal alignment through the use of ranges, flat rates, and/or bands. This is very important because a company would want to know who they are competing against and what they have to offer that will be able to go against them in the marketplace. Other things mentioned in this chapter, involve chapter talks about market pay survey (Salvador & Garcia-Menendez, 2001). There are three matters to look at before using pay surveys. One of those things is figuring out which employers will need to be included in the survey because clearly, everyone does not need to be involved. The second thing is to find out which jobs are will need to be included in the survey because obviously the proper ones need to be selected. It is not really necessary to use all of them. If multiple surveys are used, how…… [Read More]
Since the peak in residential Black/hite segregation during the 1960s and 1970s, there has been a slow decline in the index of dissimilarity; however, this did not translate into an increase in interactions with different racial groups ("Residential Segregation" 15-19). By the 2010 Census, the average hite person still lives in a predominantly hite neighborhood and the average Black person lives in a predominately minority neighborhood. By comparison, the residential segregation experienced by Hispanics and Asians has remained relatively stable during the latter decades of the 20th century and during the first decade of the new millennium.
The two main competing models are "human ecology" and "socioeconomic status" ("Residential Segregation" 47). The human ecology model proposes that segregation is created by trends in migration and new housing starts, institutionalized discrimination, population growth, an urban center's size and age, and the demographics specific to a region. By comparison, ilson…… [Read More]