How is our current Economic growth compared to 30 years ago Essay

The year 1979 saw both external and internal conditions become difficult owing to rising inflation with end user prices increasing by 13%. The years 1979 to 1981 saw the US experience a double-digit price increase owing to global petroleum price increases, federal financial policies, plus the spending patterns of the government. The United States economic system started to take a descending trend. In order to manage such financial troubles, the administration of jimmy carter squeezed the national financial plans and implemented financial restraint (United nations, 2008). The administration as well declared short plus long-term energy regulations and attempted to control the financial climate. By mid 1900s, the US was a key end user of almost each significant industrial unprocessed material. Approximately 40 percent of the global total production of commodities was done in the US industries, even though American population was approximately 6 percent of the global total, with its total territory area being approximately 7 percent of total earth surface (Kubarych, 2002). United States production has gone on expanding recently, although at a more sluggish pace compared to other First World nations. THE United States by far surpasses each other country in the volume of her Gross national product (GNP) in unqualified terms. Unites states’ GNP experienced a growth rate of more than 300% ($3. 3 trillion) from 1970 to 1983. The year 1998 saw Americas Gross Domestic product (GDP) REACH $8. 5 trillion; per person GDP reached $31,500. 2002’s per person GDP mounted to $37,600, with national GDP amounting to $10. trillion. US Inflation in the 1990s was not significant as it was from the 1970s to 1980s. US rates are lower than those of many First World nations. From 1970 to 1978, for instance, end user prices rose by 6. 7 percent per annum (Sheikh, 1999). Following twenty years of financial prosperity, the US witnessed a financial decline in the 1970’s, an era famous for the unparalleled blend of stagnating economic progress plus inflation, which led to the development of the term stagflation. Overseas competitors within Europe and Japan confronted the world dominance of US manufacturers, whereas the 1973-1974 and 1979 petroleum crises eroded public trust in business and government institutions (Fisher, 2009). The mandatory Lockheed and Chrysler bailouts symbolized the tough changeover to a fresh economic period, characterized by the significance of the service segment and plus the growth of little business ventures. During the initial presidential tenure of Ronald Reagan, beginning in 1980 to 1984, America witnesses 2 harsh recession years succeeded by 2 strong recovery years. Inflation rates declined with many new job opportunities created. However, the early plus mid-eighties economic growth was accompanied by several shocking developments. National budget shortfalls, arising from spectacular military expenditure increases, and from increasing entitlement plan, for instance, Medicare and Medicaid, costs, averaged in excess of $150 billion per year. As at 1992, total shortfall amounted to $290 billion, in other words $1,150 per each American citizen (Marcy, 2008). Additionally, company debt increased spectacularly, and family borrowing increased twofold compared to personal revenue. The 1980s as well experienced banking crisis due to several factors including: problem lending to Third World nations; elevated interest and inflation rates; and speculative property market schemes that made many banks collapse when the early 1980s property market boom collapsed. The Ronald administration brought in Reaganomics in 1981, which were fiscally-expansive financial policies, thus reducing federal revenue levy rates by twenty five percent. Inflation reduced from 1980’s 13. 5 percent figure to a mere 3 percent in 1983 because of tougher control of interest rates and money supply by the Federal Reserve and a brief recession. Real GDP went on increasing and unemployment went on rising to peak at 10. 8 percent in 1982, and then fell to 5. 4 percent in 1989. The disparity between the wealthy and the poorest increased whereas the national debt tripled. In 1981 the national debt was $930 billion; it stood at $ 2. 6 trillion in 1988. The United States began to experience huge trade shortfalls (http://www. mofa. go. jp/POLICY/other/bluebook/1980/1980-1. htm). The beginning of deindustrialization from the late 60s to early 70s made income differentials rise to an all time high. However, consumers had a record ability to purchase quantities of commodities they never were able to purchase before. Due to the practice of US companies to outsource heavy engineering and manufacturing labor operations to less developed nations, income differentials rose dramatically. The US Gini coefficient in 2005 had increased from 1968’s 0. 386 to 0. 469. The difference between the wealthy and the impoverished grew larger by the close of the 1900s. The proportion of the national revenue appropriated by the wealthiest American household increased from 1977’s 18. % to 1990’s 24. 5%, whereas the proportion of the most poor dropped from 5. 7 percent to 4. 3 percent. Outside America’s trade circumstances worsened due to the development of a swelling trade shortfall by a combination of a passive American dollar and elevated foreign investment levels. The 1990s saw America plunge into an economic recession due to rising petroleum prices after Iraq invaded K uwait, reducing credit availability, and a steep interest rates rise (McConnell, Bruce, Flynn, 2006, 137). Output dropped by 1. 6 percent with 1. 7 million job opportunities being lost. Unemployment levels increased from 1989’s 5. 2 percent to 1991’s 7. 5 percent. As at 1998, unemployment rates had dropped to 4. 5% (Sheikh, 1999). The revival that commenced in 1991 launched a continuous expansion period, which boasted of being the 3rd largest, since the Second World War, in 2000. Actual GDP growth varied from 2 percent to 3. 5 percent; the figures for 1998 were 3. 9 percent. Following climaxing at 7. 5 percent, unemployment dropped progressively during the early and mid 1990s, dropping to 5. 6 percent by 1995, 5. 3 percent at the close of 1996, and remaining less than 5 percent in 1998. Inflation generally remained less than 3 percent past 1993/1994. The stock markets were exempted from being influenced by the restrained economic climate; they increased from 1995 to 1997 owing to reduced employment, strong company profits, and reduced inflation. Stock markets expansion had declined as at 1999/2000. The bipartisan balanced-financial plan, that was passed and ratified in 1997, was another reason for buoyancy. The scheme, merging spending and tax cuts over some 5-year duration, aimed to balance the national financial plan by the year 2002. The government, in 2001, predicted a $275 billion budget excess for the financial year ending 2001 September, a prediction that was soon reversed. At the dawn of the 21st century, substantial financial concerns, apart from the usual concern regarding how much longer the boom would last before ultimately collapsing, included America’s huge trade shortfall, the rising medical expenditures for aging citizens, plus the inability of the sturdy economic system to enhance the circumstances of the impoverished. Starting in 1975, household revenue gains were witnessed almost solely by the top 20 percent households. Nevertheless, towards the close of the 1990s plus early 21st century, productivity continued to expand, the job market was squeezed, and inflation remained comparatively low. Economic expansion halted by mid 2001, mainly owing to the conclusion of the extended asset boom, particularly within information technology sectors. The economic system suffered a recession towards the close of 2001, affecting the manufacturing and service sectors. The September 11th 2001 terrorist attacks on the US worsened the underperforming financial situation. 001 Mean real GDP growth increased by a mere 0. 3 percent. The economic system of the United states, which in the 1990s dictated worldwide economic progress, turned out to cause global financial decline in north America, Japan, Europe, southeast Asia, and Latin America. The economic system began a slow recovery in 2002; GDP growth estimates were 2. 45 percent. Scholars attributed such modest upturn to the capability of commerce think tanks to react t o financial inequities on the basis of real-time data, deregulation, plus creativity in product and financial markets. However, local confidence regarding the economic system continued to be low, and combined with key company failures, such as World Com and Enron, plus extra stock market limits, the upturn remained uneven and sluggish. Growth declined by the close of 2000, with unemployment rates rising to 6. 3 percent by July 2003. CPI rates of inflation dropped to below 1. 5 percent at the start of 2003. This raised anxieties regarding the possibility of deflation. There was also a significant increase in armed forces expenditure due to the 2003 Iraq war (http://resources. metapress. com/pdfpreview. xd? code=wr28t0l0n1187370&size=largest). After the Iraq war, consumer expenditure and stock values rebounded; housing market continued to be sturdy; inflation rates were low; extra tax reductions were enacted; the American dollar decreased in value on global markets; growth productivity was sturdy; and petroleum prices dropped (McConnell, Bruce, Flynn, 2006, 131). Due to such factors, numerous analysts forecasted a more positive financial situation come 2004. However, the national budget shortfall was predicted to amount to $455 billion in 2003, the biggest deficit ever recorded. The US economic climate was mainly shaped through private expenditure; the decline of private expenditure had a vital role in slowing down the gross national product growth rate. However, fixed ventures were as well already declining. Nevertheless, economic progress did not persistently decline in 1978; rather, it varied significantly from, one quarter to the next. Despite the fact that the rate of growth showed consistent patterns, the anticipated improvement regarding the US balance of payments was not realized. The year 1979 witnessed a sharp decline in car trade by America’s 3 main auto manufacturers, Ford, Chrysler, and General Motors. This led to the dismissal of about 100,000 employees in the automobile industry. By 2002, the US economy had a number of weaknesses and strengths. The strengths were witnessed in: the housing market; automobile sales; imports, military expenditure; and inflation. Weak segments were: the labor market; trade fixed investments; construction; bank loans; and profits. Regarding strong points, the housing sector witnessed sturdy price rises, averaging approximately 7 per year. Reduced interest rates allowed households to re-fund mortgages and dispense some gains on homes. Credit card and car loan access was as well simple. Such extra monetary resources support sturdy consumption expenditure. Regarding automobile sales, owing to sufficient liquidity, consumers could capitalize on low-cost funding incentives and price reductions to purchase automobiles at prodigious rates. However, automobile firms were unable to earn much due to the existence of a highly aggressive environment where pricing supremacy was non-existent (Yellen, 2008). Pertaining to imports, much consumption emerged in form of increased import levels and current account and trade deficits. In defense expenditure, the increase in armed forces hardware, particularly aviation spare parts and airplanes added approximately 0. 5 percent to GDP expansion. Inflation was mainly caused by petroleum and housing prices. In 2002, labor market growth was minimal and new layoffs diminished. Unemployment rate stood at 6 percent. Regarding trade fixed investments; there was tremendous surplus capacity within a number of ultra-modern industry sections, particularly telecommunications apparatus. Senior managers further tightened investment budgets. In the construction industry, the drop in non-housing property development was catastrophic. Local government and state infrastructure programs were downsized due to budgetary constraints. Regarding bank loans, standards were tightened and costs increased, particularly for borrowers with little creditworthiness. Loan demands dwindled. Regarding profits, numerous industries were not making any profits (http://www. nationsencyclopedia. com/Americas/United-States-ECONOMY. html). The US economy in 2008 shrunk at a 6. 3 percent yearly rate in the last quarter of 2008. Unemployment rates are increasing with about 13. million unemployed people, translating to an 8. 5 percent unemployment rate. This situation has worsened the home market problem. A recent Case-Shiller survey indicated that the decline in home prices increased in 20 surveyed city districts, declining nineteen percent per annum for the 3-month time period concluded in January 2009. Business owners have added to the problem by reducing expenses, especially the labor cost, and operating squeezed inventories, downsizing delivery lines, postponing all except the most compulsory capital spending, and generally evading risks in order to maintain business margins. The outcome is that the American economic system is static, with no new ventures and no gains (http://www. oecd. org/document/45/0,3343,en_2649_34573_38630765_1_1_1_1,00. html). The contraction of us overseas markets, that are essential to economic growth through the sale of high-value services and goods, is another negative development. The World Bank predicts that global economic systems will experience a 1. 7% decline in 2009, with international trade experiencing a 6. 1% decline. The Federal Reserve is taking radically proactive plus highly creative measures to reinstate credit market vibrancy and control financial decline. In about 1 year, the Federal Reserve has: set up a loan structure for main security merchants , adopting fresh types of guarantee for such loans; started exchange lines with 14 key trading partners , for example, Bank of Japan, European Central Bank, Bank of England, Banco de Mexico, Monetary Authority of Singapore, and Korean Central Bank , to offer such overseas central banks the capability to provide united states dollar financial support to organizations under their command ; developed facilities for backstopping financial market joint funds; started fresh mechanisms in conjunction with the Federal Deposit Insurance Corp. nd the Treasury to fortify particular banks’ security; carried out a key plan to buy business paper, which is a major element of the economic system; started to reimburse bank reserves interest; declared plans to purchase as much as $100 billion of Fannie Mae, Federal Home Loan, and Freddie Mac direct debts, and then pushed up the amount to $200 billion; declared plans to purchase $500 billion worth of the mortgage-backed securities supported by Freddie, Ginnie Mae, and Fannie, then pushed the amount to $1. 5 trillion; declared and recently implemented a novel facility for supporting the provision of asset-supported securities guaranteed by learner loans, credit card loans, car loans, plus loans collateralized by the Small Business Administration; and commenced the procedure of buying as much as $300 billion worth of long-term Treasury securities to assist enhance private credit markets conditions. In addition, the Federal Open Market Committee (FOMC) lowered the federal funds levels to 0-1/4 of 1 percent. At the same time, the FMOC reduced the rates charged on banks when they borrow from FMOC’s discount window in order to reduce the credit cost to the economic system. Therefore, the balance sheet of the federal reserve has expanded to about $2 trillion currently, which ids in excess of twice the increase witnessed since its inception in 2008.

Discipline: Training

This essay is to explain discipline to you and what it means to me and what it means to everyone. I will be covering discipline and what it means both definition and in my opinion. I will be giving three examples of both good and bad discipline. My examples of good shall include writing a long paper or essay and how it does take discipline, drive and determination to write and research. Soldiers like Special Forces and Rangers and the very hard training they go through, like selection or ranger selection. The time spent away from the ones we love during said training like AIT or basic training. Basic training consists of 10 weeks and AIT consists of 14 weeks. Selection and the Q course consists of almost 2 years. My examples of bad shall include people that quit because they want an easier way out, nothing in life that is worth it isn't easy. Rebellious teenagers that have to act out just because they think that they have a problem with authority and positive role models. People who are always getting in trouble is another example of bad discipline, rather they be getting in trouble because of lack of listening or just lack of caring, both lack discipline. This essay will then close with my conclusion on discipline. I will recap on the topics I have touched along with my final statements on it. A first good example about discipline is writing this essay. Discipline to take the time away from the 4 of July weekend to research and write this essay. The group have gotten in trouble for a few people that do not have discipline or follow rules, and the group got punished for it. The group know that the military believes in mass punishments because they believe disciplined soldiers will help undisciplined soldiers work on their discipline and military manners. But most of the time those undisciplined soldiers do not like to listen to other soldiers when trying to help them out or keep them in line. Some people might not write the essay but the few with discipline will write this essay and explained what discipline is. Discipline is a training to act in accordance with rules. Rules that us as US Army soldiers have to follow and maintain every day in our military career. Being in the military requires you to have discipline to be able to succeed in your military career. Soldiers like the ones in Ranger or Special Forces training require a lot of discipline to be able to succeed in their careers, to be able to succeed in all their training and make selection and the Q course. It is also that same discipline that brings those teams and individual soldiers home alive. Only soldiers with discipline are able to stay focus and succeed with the hard training they go through. I believe every single soldier going through BCT and AIT should look up to those soldiers going through all the hard training and their discipline. Just like the discipline that they have after having to leave our love ones for long periods of time to go through BCT and AIT. Some leaving their wives/husbands and kids to give them a better life and education. To show their kids that discipline is learn and earn at any age and any stage of your life. Some others to succeed in their personal career and continue with their education. To give their future families the best life or the life they weren’t able to have. It takes discipline to be able to be away and still be able to function with your military career. Examples of bad discipline include people that prefer to give up or quit because they think it is the easier way. How they think that by quitting you get out of anything faster and you won’t have to worry about it. They still don’t understand that being in the military it is not easy to just quit, it is not like any other job. You signed a contract with the government that willingly binds you to terms of service. After the government invest in your future the government expects you to fulfill your contract. We still have soldiers in this service that did not have the discipline to follow the rules and are stuck suffering though the corrective punishment until their contract is up or the government decides that the individual can not correct him or herself. Lack of discipline starts at home, some people do not have the necessary discipline before joining the military and since they believe they are adults they do not want to change or listen. Showing lack of discipline shows weakness within yourself, and that goes back to giving up and quitting. Just like rebellious teenagers are always getting in trouble because they feel like listening to authority is lame. People like that are the ones that when they join the military believe that they can get away with not listening or following rules because they have not been doing it back at home. Those same individuals are the same ones that are always getting in trouble and is because of them that just make everyone else life harder, and since they feel like they know better, they think that it is lright to keep acting the way they have been acting back at home. In conclusion, this essay has thoroughly discussed discipline and have expressed my opinion and my beliefs on the matter. This essay has given the definition along with a lot of examples. This essay has given three examples of good like the long training that soldiers have to go though and the discipline it takes to get there. The kind of discipline it takes to do something that does not come easy to all like writing this es say. This essay has also given three examples of bad discipline like people who quit because its easier. How some people have to cause trouble for others. The steps it takes from the day that were born and the others around us that raise us and teach us about being discipline make a huge difference in our lives, not just our lives but the lives around us too. It makes life easier for the whole. Being able to work together can turn a walk into a run during everyday projects and tasks. Working together takes discipline.

Individual operations management report Essay Example | Topics and Well Written Essays - 1000 words

Individual operations management report - Essay Example Lately, the company has been facing tough competition from Chinese manufacturers impacting both its top line and bottom line. In order to improve the situation, the company has initiated a quality improvement plan. Statistical Process Control is being used at one of its toy plants as one of the tools for enabling Total Quality Management. Under this initiative the company plans to analyze the quality of a doll manufacturing unit due to growing concerns over increasing customer returns. The company has decided to evaluate two important parameters of quality – colouring and height of the dolls. The data has been collected over a 30 day period. Statistical Control charts are of various types and are used depending upon the situation and the nature of data recorded. For the first set of data, that is, the data for colour defects, c-chart would be the most appropriate control chart since c-chart is used for the number of defects. Since, the number of units tested is constant (=200) in each sample, c-chart is perfect for the situation. Else, a p-chart could have been used. The values of constants A2, D3 and D4 are taken from standard tables for control chart constants (Here values for n=25 have been assumed for the sample size of 30 as the tables contain values till n=25 and calculating annually for higher values is very cumbersome) (Table for Control Chart Constants). For the colour defects, only 1 value (14) is found to lie outside the two control limits. Hence, from the colour defects point of view, the process is only marginally out of control. The control chart for the same is shown in Figure 1. For the heights, a large number of values in both R chart and x bar chart are found lie outside the control limits. Thus, this is a major concern area for the company. The two control charts for the same are shown in the Figures 2 and 3. Tom Pulling Toys needs to pay some attention to

A paper about the concept of God Essay Example | Topics and Well Written Essays - 1000 words

A paper about the concept of God - Essay Example In this essay, the ideas of several thinkers will be examined, incorporating the 'positive' and 'negative' dimensions attributed to a divine being. But everything hinges on personal belief in a deity and why people believe, when proof of a divine existence seems to defy logic. "Theism is the view that god is unlimited with regard to knowledge (omniscience), power (omnipotence), extension (omnipresence) and moral perfection; and is the creator and sustainer of the universe." (Morley, 2006) In the historical context, beginning with Plato, we see that within the Platonic concept, he considered god to be all these things, a perfect being, good, rational and unchangeable (immutable). The last quality described as negative, but if god is omnipotent, then he can stay unchanged no matter what. Aristotle agreed with the perfection and immutable concepts, for if god is perfect, he stays that way, so is unchanging, which also makes him eternal. He considered that god gave order to the world; he does not care what goes on there, being an unmoved mover. Yet in his Nicomachean Ethics, Aristotle speaks with great authority, and so much rationality, when he says that the desired state of happiness is only achieved by virtue, being good, thinking good and doing good, for its own sake. He says of happiness: "..or comes in virtue of some divine providence.Now if there is any gift of the gods to men, it is reasonable that happiness should be god-given" (Aristotle, 350BC, Bk. 1. Chapter 9) This appears to contradict his idea that god cares nothing, if he is giving his creations gifts. Aristotle also seems to suggest god's sovereign, supreme power that impacts on the idea of free will. Problems arise when we see the world changing and events occurring that appear to deny the sovereignty. It calls into question the goodness and perfection of a god who allows evil to co-exist within his creation. The idea of him having charge over our fate raises another question as to why we have free will to do evil - go against god's will. In doing right, we move towards god, but wrong take us away from him, and we are responsible for that, not god. But repentance and salvation can bring us closer once more, ideas that are the bedrock of the Biblical, Hebrew and Christian concepts of god. This is a comfort to those who believe. St. Anselm, in the 11th century, is thought by some to have proved god's existence by calling on his perfection, because if he did not exist, he would not be perfect, but because he is perfect, he exists. To deny that is to be illogical. The problem here is how we can know of his perfection, for if we are made in god's image, we are not perfect at all! Augustine (354-430) agreed with many of Aristotle's views but described god as 'simple' meaning he is whole and perfect, indivisible into parts. In revealing himself as Christ, to show his love and connect

Science Meets Real Life Essay Example | Topics and Well Written Essays - 1750 words

Science Meets Real Life - Essay Example By using the precepts of the scientific methods, it follows that critical thinking in essence is employed. This is not limited to the study of science but to all other disciplines which delves on sought-after solutions to problems. Through the testing and answering of personal questions which leads to plausible answers scientific thinking is used. This is in essence thinking correctly and coming up with reliable answers in most aspects in life. The process of scientific thinking and critical thinking is one and the same in practice and theory. It may only be within the grounds of who uses what wherein the difference lies but both are used by human beings regularly (Schafersman, 1997). Upon arriving at home and finding out that the light would not turn on begins the process of scientific inquiry. Faced with the recognition of a change within the surroundings of the house, the initial progression within the method was conceived, the acknowledgement of a problem. Simple logic suggests that one should exhaust efforts to locate and solve the problem. The mature thing to do is to remedy the dilemma sensibly and not be infantile about the situation. When a problem arises, it only becomes aggravated when not dealt with the utmost perception of common reason. In this case the problem encompasses a number of things. The fact that the lights would not turn on is the main problem. Second, it is already well within the night and I would be hesitant about calling a handyman for reasons that include, one, I would assume it is already past their working schedule and two, I have some confidence I may be able to solve the problem myself. Another problem that comes with it is that the problem is located in part of the house which is dark and would therefore be a further complication on the matter at hand. On this stage the most conceivable thing to do is to go back in memory and think of the most relevant details

FINANCIAL SERVICES MARKETING Assignment Example | Topics and Well Written Essays - 2500 words

FINANCIAL SERVICES MARKETING - Assignment Example SWOT Analysis SWOT analysis of an organization is its strength, weakness, opportunity and threat analysis. Through strengths and weaknesses are generally considered internal to the organization whereas opportunities and threats are mainly external to the organizations like change in environmental factors or change in governmental regulations. SWOT analysis inculcates new ideas in strategic planning of the organization and can help any organization to take advantage of its strengths and defend against weaknesses. It is easier to conduct and does not incur high costs. It helps organizations to be aware of its external threats, mainly political and environmental threats. So this helps and organization to get prepared for them beforehand (Keller, 2009). SWOT analysis of SBNY is as follows: Strengths SBNY’s concentration in the New York metropolitan area deters it to reap the benefits of a diverse geographic presence (SBNY Annual Report, 2010). ... Therefore, any adversity in the economy of the area would hamper company’s earnings. As it is an investment banking company and a Financial institution its customers ranges from retail investors to the companies for which it does merchant banking and underwriting business. The company has fixed a lower limit of investments at which it starts managing the portfolio of its customers. This is done generally to create a standard lot of investment for all the retail investors. The lower limit is decided based upon the marker scenario. The funds of SBNY are managed under a separate wing known as SBNY Fund Management ltd, which is a subsidiary of SBNY (SBNY Annual Report, 2010). SBNYFM is currently operating on the institutional platform and its fund accounting and investment staff provides best class services to its clients. The fund management services are provided mainly to small and large retail investors. The next level services provided to the companies are Corporate Financial Services. It includes Initial Public Offerings, Corporate M&A, and Financial Advisory and capital market services. SBNY’s organizational structure provides for the establishment of private client groups, where each group caters to all the banking needs of its clients. The members of such group are highly experienced as they are recruited from major New York banks and brokerages with 20 years of experience in financial services, and are in position to serve the clients in best possible way. A typical group director has an established team of two to four additional professionals to assist with business development and client services. SBNY has 71 teams headed by 92 group directors. The company has projected to hire 11 more teams (About

Manifestation of Social Class in the Workplace Essay

Manifestation of Social Class in the Workplace - Essay Example â€Å"Serving in Florida† is the story of how social class is manifested, structured and stratified in the workplace. Because of this stratification and structure it paves the way for the higher social class to take advantage of people who are in the lower social class (Sanders, 1990). In Ehrenreichs (2008) dialogue, she underlines the harsh working conditions a laborer deals with on a daily basis in order for him or her to survive, which brings a glaring contradiction in consideration of the promise of the social-paradigm, capitalism. In the start of her story, career opportunities appear abundant. This is indicated by work advertisements, which ensure that the company will have an employment pool that compensates for high attrition and employment costs. Her failure to secure employment supports the argument that the idea of abundant opportunities is only an illusion. In a broader perspective, this is a manifestation of how the very principles of capitalism such as profit-max imization and cost-reduction can be argued to result in the frail economic conditions of the lower wage-earning sector. While one may argue that social class is inevitable, because competition itself occurs within the social classes; some of them earning more than others; some of them become managers while some subordinates. While this cycle is true and not necessarily wrong, what deserves attention in Ehrenreichs (2008) story is the extremity of the level of poverty and difficulty that the lower social class has to endure, even in the event that they have worked hard. This puts the working class in a very disadvantaged position, which manifests in a simple fact: the salary or wage that a regular employee is earning, even including the so called benefits that are attached with employment such as health care and other insurances, is not sufficient to provide for a fairly well level of lifestyle, and to that ‘American dream’, more so. The amount of work a blue-collar empl oyee is required to do, as made evident in the story is still not enough to pay for his or her basic needs, more so the things he or she desires to have to establish a good quality of life, such as land and housing property of his or her own. â€Å"God helps those who help themselves† is the spirit of work ethic that capitalism operates around (Weber, 2002), and while this has definitely contributed to the overall value that western societies assign to employment, it seems to have been already lost in Ehrenreichs (2008) account. Ultimately, the status of the narrator, being a low wageworker in the hospitality business, is an unfortunate irony, because while her work requires her to be accommodating to the needs of her company’s clients, she is not able to do the same for her own sake, a circumstance that does not indeed sit well with the promise of capitalism, given its operating principle: the profit motive, the perfect competition, the free enterprise and the deregul ated market- all are in theory supposed to work such that there will be a sustainable life not only for those what will succeed in the establishment of businesses, such as those that the characters in the story are employed under, but also the labor sector itself must be included in that growth. In this story, it

The effects of invasive species on recreational fishing Research Paper

The effects of invasive species on recreational fishing - Research Paper Example First is that the species show very high rate of reproduction. The plant species that are invasive have a much higher rate of reproduction than any other species, which raises the second reason why they are so (Coulatti 138). Second is that the species fall prey to little or no predation at all. This fact gives the species leeway to reproduce and not worry about any form of predation. Thirdly, the invasive species are mostly hardy in nature. Being hardy means that the species can thrive in virtually any kind of environment, including different climates and habitats (Coulatti 140). The impact that invasive species cause on the environment are gross and sometimes irreversible (Verling 272). Destruction of landscape and severe loss of habitats and loss of life by both animals and humans are just but a few of the impacts. The effects the invasive organisms have on the environment include negative impact on bio-diversity, they can cause species extinction, soil erosion and land degradation and change in life cycles of organisms (Verling 273). The weeds found in lakes and rivers, for example the water hyacinth could cause destruction to water bio diversity. First, the weeds in the water destroy all other plant organisms in the water in order to establish their roots some of them even feed on other organisms. This ensures that the weeds remain the apex plant organisms on these water sources thus getting rid of any chance of bio-diversity in the water sources (Callaway 265). Second is the cause of species extinction in water sources (Coullatti 57). In order to fish, it is logical that there be something to catch in the water sources. The invasive species make sure that fishing does not happen. They do this by first, as mentioned above, eating up all the plant life in the water and thus rendering the fish without food. This the main reason for fish extinction. Land and soil

Barriers and Disparities in Health Care Research Paper

Barriers and Disparities in Health Care - Research Paper Example The paper â€Å"Barriers and Disparities in Health Care† investigates the numerous barriers to achieving satisfactory health care, which in turn lead to disparities and eventually result into poor healthcare. Some of the barriers currently existing in the health care provision include geographic barriers, socioeconomic and cultural barriers. Geographical barriers refer to people living in the rural parts who cannot get quality health care because of insufficient facilities in those regions. Health care facilities in the rural regions are normally understaffed because there is challenge of recruiting the health care providers to work in the rural regions. Rural populations are exposed to numerous geographic and climatic barriers which at times makes the hospitals to be located in rugged terrain which are not easily accessible. Moreover, there are lacks public transportation in the rural areas which hinders populace from receiving health care. There is also widespread poverty in rural areas than in the urban settlements. Socioeconomic factors also largely deters adequate provision of quality health care since low income households cannot afford health insurance cover and access the high cost of health care delivery. The less income families may not be able to pay for essential out of pocket charges such as deductibles and medicines even if they may afford insurance cover. Socioeconomic factors are therefore very significant in preventing adequate access to health care facilities.... Cultural beliefs about diseases and health care differ amongst different communities around the world across the world. For instance, the Western attribute of healthcare may differ from other countries health belief systems. Other people especially from Asia are always comfortable with traditional mode of treatment than the modern strong and improved medicines. Sensitivity about culture is therefore very important because any disregard of culture by a healthcare practitioner may prevent an individual from vulnerable populace from receiving quality healthcare. There is disparity in health literacy and therefore health care providers must ensure that they consider cultural considerations before for successful health care delivery (Agency for Healthcare Research and Quality, 2013). Health Care Disparity Better health outcome requires that the entire population should receive equally superior health care but this has not been the case due to numerous disparities that persist. Disparities however differ in almost every population depending on various factors. Ethnicity, culture and race are amongst the parameters that contribute to disparities in healthcare provision. Generally, these disparities can be classified into communication failure, provider discrimination and lack of preventive care (Mason, Leavitt & Chaffee, 2006). Communication between health care providers and the patients is vital in ensuring adequate provision of health care. Failure to properly communicate may result into inappropriate diagnosis and improper admission of medicines. There are some patients who cannot speak similar language as the health providers hence there may be a need of

Hire for Attitude Essay Example for Free

Hire for Attitude Essay Professionals mostly from the human resource department believe in â€Å"hire for attitude, train for skills† and this can be supported by the fact that it is comparatively easier to inculcate and to make them learn new skills than to change their attitude. I believe that this statement is very true as the type of attitude adopted by an individual formulates due to various reasons and the environment he lives in. Depending on these factors and some of the other major factors an individual has passed through in his life, he then develops a certain type of attitude. There are various types of attitudes that a person might possess, however specifically talking about the attitudes of employees at workplace, I would say that people might be enthusiastic or efficient. Besides this, they might show their excellence at work, they might be flexible or might make their work easy by adopting a good attitude. Many companies have failed to hire the right candidate for the right job and this is the most important task of the human resource department to consider when hiring a candidate. In order to bring an improvement in the hiring process, many companies have analyzed many reasons over the years to find out the reasons why their hiring processes fail and they have come up to a conclusion that it is always better to hire a person with a right mind set and a right attitude rather than hiring a person with the right experience. Therefore, now the companies prefer to hire individuals for attitude after which they train them according to the requirement of the company and the job. (Carbondara, 2007).

PESTEL Analysis of Tesco

PESTEL Analysis of Tesco Table of Contents PESTEL Analysis Political Economic Social Technology Environmental Legal Review of Tesco PLC References PESTEL Analysis Political The UK government has recently adopted a tax measure that affected Tesco. In 2011 the UK government increased the VAT rate from 17.5% to 20% with the aim to increase government revenue by  £13 billion per year (BBC, 2011, n. p.). Crossley et al. (2009, p. 3) contend that an increase in the VAT rate leads to lower customer spending. Therefore, an increase in the VAT rate negatively affected the sales revenue generated by Tesco. Sales revenue is the key source of income of the organisation and thus it holds a substantial effect on profits (Atrill, 2009, p. 33). The UK government has also proposed to adopt a fat tax with the aim to control obesity and limit the medical problems associated with it (The Guardian, 2011, n. p.). Such measure can adversely affect the sales revenue of certain products retailed by Tesco. Tesco is responding to such a threat. Indeed, in 2014 Tesco launched a brand new healthy food range (Tesco, 2014, n. p.). Economic The UK economy is showing positive signs of recovery from the financial crises. Higher economic growth rate was forecasted and the gross domestic product was estimated to be 2.7% higher than the pre-crises peak (BBC, 2014, n. p.). A growth in economy is a positive sign for Tesco because it results in a growth in the supermarket industry, which is the main industry in which Tesco operates. When there is an economic recession, which is the opposite of economic growth the rate of unemployment increases. This results in lower disposable income in the hands of the British people. Therefore, customers will decrease spending and will shift to products of a lower price (Mankiw, 2012, p. 97).Therefore, recovery from the economic recession stimulates revenue growth for Tesco. Social The number of elderly people is increasing in the UK due to the baby boom generation. In the past years there was a decrease in the birth-rate and an increase in the life expectancy of people (Independent, 2010, n. p.). This led to a shift in the tastes of individuals which should be taken into account by Tesco. For example, the adoption of online shopping by Tesco for grocery products is an approach that takes into consideration the mobility issues that elderly people face. Eastmen and Iyer (2004, p. 208) examined the perception of elderly people to the use of the Internet. These scholars found that elderly people view the Internet favourably and are willing to use it. This research also suggested that elderly people with a high income are generally more in favour to the use of the Internet and are interested to acquire products online (Eastmen and Iyer, 2004, p. 208). Therefore, Tesco has positively responded to this social change. The literature says that the customers opinion of an organisation can quickly change due to changes in the quality and price of the companys products, shopping service provided to customers and competitive moves (Kotler and Armstrong, 2010, p. 163-165). This highlights the importance that the corporate strategies should be responsive to the business environment. For example, in 2013 Tesco was accused of the horsemeat scandal. Horse-related puns were identified in Tescos burgers and the organisation was accused of not providing the good quality products claimed in their advertising campaigns (Pratley, 2013, n. p.). This scandal affected negatively the perception of customers on Tesco, which resulted in a decline in sales (Neate and Moulds, 2013, n. p.). Tesco needs to respond to such scandal, which adversely affected its image. Technology Technology is critical for the supply chain management of Tesco. Retailers like Tesco develop supply chain management systems in order to attain competitive advantages and enhance cost efficiency (Tan, 2001, p. 41). Johnson et al. (2005, pp. 132 133) posit that the most effective competitive advantages are those that are difficult to imitate by competitors.These are reflected in the core competencies of the organisation (Johnson et al., 2005, pp. 132 133). Tesco needs to be very attentive to technological advancements because these may be an opportunity for the firm. For example, mobile technology helped to improve Tescos distribution service because customers can selected their preferred wine through their mobile (Tomlinson and Evans, 2005, n. p.). The management of Tesco needs to be attentive for disruptive technologies, which occur frequently in retailing. For example, the introduction of e-grocers led to a disruptive wave in the supermarket industry (Wessel and Christensen, 2012, p. 7). Disruptive technologies result from an innovation in technology that is initially incapable of reaching the performance of the present technology. Therefore, customers value the present technology more than this new technology. However, a niche in the market arises where the disruptive technology is more convenient to customers. Therefore, such technology will appear unattractive to large well established organisations, like Tesco. On the contrary small firms will regard a disruptive technology as an opportunity to enhance the market share (CIMA, 2009, pp. 1 2). These small firms will utilise the technology in order to meet the standards of performance expected by the bulk of the market (CIMA, 2009, p. 2). Therefore, over time the disruptive technology will increase in popularity and will be more valuable to customers than the present technology (CIMA, 2009, p. 2). This will thus negatively affect organisations that have not used this technological opportunity. Environmental In the press substantial emphasis is made on global warming and the consequences associated with it. For example, the increase in average temperature is leading to a melting of the Arctic ice and it is envisaged that by 2040 there will be an ice-free summer (National Geographic, 2007, n. p.). Such facts are leading to higher emphasis on environmental sustainability. Tesco is adopting a number of measures that are aimed to protect the environment. For example, Tesco is committed to diminish the consumption of energy and utilisation of greenhouse gases (Tesco, 2014c). Management claimed that when they are doing store adjustments they are taking into account such environmental factors. For example, in Thailand the organisation has invested  £3.1 million on 49 stores in order to provide energy savings of approximately  £2 million (Tesco, 2014, c, pp. 44 45). Legal There are a number of laws that affect Tesco because the organisation markets a wide number of products and services. For example, as regards the agricultural products the UK government is reforming the common agricultural policy. The government is revising the way direct subsidies will be allocated to farmers (Gov.uk, 2014, n. p.). Such measures can lead to lower subsidies, which affect the ability of farmers to meet the agricultural standards set by Tesco and the prices agreed with organisations engaged in the supermarket industry. Winnett (2012, n. p.) contends that significant fines can be imposed on firms like Tesco if such organisations force agricultural suppliers to sell at a price which is lower than costs. Tesco is also engaged in financial services products like credit cards, savings, loans and mortgages (Tesco, 2014a, n. p.). The Financial Services Act (2012) was recently implemented in the UK (Noked, 2013, n. p.). Three new governing bodies resulted from this act, which consist of the Financial Policy Committee, the Prudential Regulatory Authority and the Financial Conduct Authority (Noked, 2013, n. p.). The Prudential Regulatory Authority adopts a micro-perspective and is responsible that organisations engaged in financial services products operate in adherence to relevant regulations (Noked, 2013, n. p.). The Prudential Regulatory Authority seeks to decrease the negative effects arising from disruption to the continuity of financial services, which may be influenced by the way financial services organisations operate or their failure (Noked, 2013, n. p.). Review of Tesco PLC Tesco is facing serious threats that are weakening the leadership in the supermarket industry that the organisation holds in the UK. Furthermore, the financial health of competitive firms is better than that of Tesco. 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Wessel, M. and Christensen, M. C. (2012) Surviving Disruption. Harvard Business Review, 90(12), 56-64. Winnett, R. (2012) Supermarkets Face Large Fines for Abusing Farmers, The Telegraph [online]. Available from: http://www.telegraph.co.uk/earth/agriculture/supermarkets/9720989/Supermarkets-face-large-fines-for-abusing-farmers.html [Accessed 2 October 2014]. Wood, S. and McCarthy, D. (2014) The UK Food Retail Race for Space and Market Saturation: A Contemporary Review. The International Review of Retail, Distribution and Consumer Research, 24(2), 121-144. Other Essays on Tesco Other essays available on the Tesco organisations are: Tesco SWOT Analysis Tesco Business analysis Tesco is one of the leading supermarkets Tesco Strategy analysis Tesco Changing Business Environment Tesco Fresh Veg Supply Chain Management