...Policy Effectiveness 9 4.0 Conclusion 10 5.0 Reference List 11 1.0 Introduction Driven by its dependence on natural resources, Australia’s economy has performed well in the aftermath of the 2007-08 Global Financial Crisis. The relative ease at how Australia has fared post crisis has disguised a worrying trend, a lagging productivity growth. Commissioned by the House of Representatives Economics Committee this report will cover Australia’s productivity performance between 2008 and 2014, gaining a greater understanding of the factors behind Australia’s declining productivity performance. This report will cover productivity growth before and after the GFC, critical analysis of policies aimed at addressing lagging productivity and the effect of these policies on the recovery from the GFC. ‘Productivity is a measure of how efficiently an economy is operating…Australia’s future productivity performance will affect its rate of recovery from the current global financial crisis as well as its future prosperity and capacity to address the longer-term challenges of population ageing and climate change”(Productivity Commission, 2009). The Productivity Commission (2009) define two main measure of productivity, labour productivity and multifactor productivity. Labour productivity is the real GDP per hour worked. Multifactor productivity...
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...Microeconomics Chapter 1 What is economics? Economic questions exist because everyone wants more than it can possibly get. We can't satisfy all our wants, this is called scarcity. General shortage of everything is scarcity. Because of scarcity we must make choices. These choices depend on the incentives we are faced with. Incentives are rewards that we would reap or a penalty we would face if we made a certain choice. Definition of economics- the social science that studies the choices that individuals, businesses, governments, and societies make as they cope with scarcity and incentives that influence and reconcile those choices. There are 2 branches of economics Microeconomics- the study of choices made by the individuals and businesses and the influence of government in those choices Macroeconomics- the study of the effects on the national and global economy of the choices that individuals, businesses and governments make There are 2 questions that essentially summarize the scope of economics 1. How do choices end up determining what, how, and for whom goods and services are produced? 2. How can choices made in the pursuit of self-interest also promote the social interest Question 1 Goods- the physical items which are produced for people Services- the actions performed which are rendered for the people Goods and services are the objects that people value and produce to satisfy needs. What?- What should we produce? What people produce changes over...
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...the point of employer’s view, employer wants the company to running in maximum productivity and efficiency by offering as lower and simpler as possible to employee’s salary working condition. In contract, employees are willing to receive higher reward and better working condition according to their capacity. However, in most cases, employees do not receive equal treatment due to they have relative less bargaining power than employers within employment relations. Basic on this situation, Australian policymaker establish rules including the National Employment Standards, modern awards, Occupational Health and Safety to solve the inequity between employers and employees. The National Employment Standards, which is a component of Fair Work Act 2009 take effect on 1 January 2010, is a good example of how the state government to protect Australian employees’ right. It is introduced by the Rudd...
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... can’t use that, also illegal. You can try to pay below market wages, but doing that will probably result in less than stellar employees and the eventual end of your business. Here is an option, what if this labor was provided by prison inmates who had no choice but to work for mere pennies compared to the regular work force? Sounds like good idea right? Cheap labor for you and prison inmates get a chance to earn a buck, learn a skill, and contribute to society. However, using inmate labor presents several ethical dilemmas. Do we have the right force inmates to work if they don’t want too? Is it fair to only pay them a few dollars a day when the same work would earn a free man $10 an hour? Is it a fair business practice when one company can use inmate labor when another company conducting the same business cannot? What is the effect on the regular work force and the economy in general? These are all questions that must asked and answered. According to a Huffington Post article, prison labor is back with a vengeance. It can be found across broad stretches of the American economy and around the world. Fortune 500 corporations like Chevron, Bank of America, AT&T, and IBM lease factories in prisons or prisoners to work on the outside. All told, nearly a million prisoners are now making office furniture, working in call centers, fabricating body armor, taking hotel reservations, working in slaughterhouses, or manufacturing textiles, shoes, and clothing, while getting paid...
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...relationship. Relationships affect both management and worker’s performance. The quality of these relationships have an effect on the organisation. Human Resources, focuses on recruiting new employees and managing existing workers, plays a significant role in employment relationships as do several additional internal and external factors. Listed below are a couple of Internal and external Factors that may affect the employee’s relationship. Internal Factor-Conflict: Conflict exists in every organisation, and to a certain degree indicates a healthy exchange of ideas, opinions and creativity. However, some conflicts may arise where the employee is not satisfied with how a certain situation has been dealt with or how they have been treated. Managers may have not tackled matters in a systematic or careful manner which has resulted in employee dissatisfaction, absenteeism, poor customer service, increased work related stress or, worse case scenario litigation on claims of harassment or a hostile work environment. Internal Factor-Change in Management: Many organisations will replace managers this can be due to retirement, promotion, career change, transfer or dismissal. Each new manager will bring their own style and ideas of working in an organisation. The relationship and attitudes between employees and managers will change, employees are expected to work around the new management style. This can either have a positive or negative impact on the relationship. Employees maybe...
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...life. Explain how you would handle this situation if you were Charles Renford. It is the manager’s duty, and responsibility at a company or organization to listen to both sides of a concern in the workplace. In the case where Charles Renford’s position as a supervisor at Redwood Associates, an employee felt strong enough to complain about smoke in the work place, he should address the complaint with all employees involved directly. The odor of smoke was strong enough that Darlene, the employee came to the supervisor, Charles Renford with a complaint about the smoke in the main file room. Charles Renford reminded Darlene, “that although the law in their state requires companies to provide a smoke-free work area for employees that desire it, it doesn’t force companies to ban smoking altogether” (Shaw, 2010, p. 339). Looking at the company and keeping the morale up in the workplace, all areas need to be observed so that it benefits all employees in the work environment. By giving certain employees permission to smoke in their designated work area, and then expecting other employees that do not smoke to go into their work area for a certain length of time, is...
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...that considers various key stakeholders that will be impacted by decisions * Applying critical thinking in the decision-making process Critical Thinking Critical thinking requires a person to look at his or her own thinking process and put it through tests. Deconstructing the thinking and identifying weaknesses will allow the person to reconstruct it into something better (Paul & Elder, 2006). A person needs to be honest with himself and look at all aspects of the situation and why he is leaning toward one decision over another. Critical thinking occurs when a person thinks about their own thinking in depth and attempts to improve it. This paper will explore a personal experience in which I used critical thinking in a work-related decision, as well as the importance and benefits of critical thinking in this decision-making process. Real-life Example My position as Director of Human Resources in our information technology company provides me with many...
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...what the decision to make. This paper will explain the developmental aspects of my ethics and personal ethics; it will also explain the importance of ethics at the work place. When we talk about ethics we can find the difference ways that individuals can influence us. Fist our parents, they teach us right from wrong and that is better to be honest and do the right things in life even that at times doing the right thing may look unfair. Being fair and taking responsibility for our actions its part of an individual’s ethics way of been, its show good morals at least that what my grandparents had taught me. As I was grown up with my grandparents who set up the initials ground for me to choose from right or wrong, my grandparents shape me to be a very hard worker and to always be honest because life bring consequence when acting unethical. Of course that once as I grow older I had made many bad choices in my life but I believe that once you are taught something as a young child when you become an adult you will apply it and that exactly what had I done. As a teenager I did many thing that I shouldn’t had done, but in time looking to act the right way find myself following a religion that had help me shape myself to be today who I became in life. Today I value the morals that my grandparents taught me. I learn to be fair, respectful, responsible, and more ethical. Today I consider the opinions of others; my religious leaders reinforce that principle of honesty in me that I was taught...
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...Introduction This paper examines the development of positive accounting theory (PAT) and compares it with three standard accounts of science. There is some confusion about what PAT is. If the definition of accounting theory (i.e., accounting theory seeks to explain and predict accounting and auditing practice) given in Watts and Zimmerman’s 1986 book is taken to mean PAT, studies of accounting choices and auditing practices constitute PAT. At the same time, they also seek to explain the economics-based empirical literature in accounting and they describe, in addition to accounting choice studies, capital market-based accounting research. They point out that Ball and Brown (1968) initially popularized positive research in accounting, suggesting that PAT includes both capital market-based accounting research and research in accounting choices. This paper takes PAT to include both research programs. This usage is consistent with Watts and Zimmerman’s (1986) assertion that when they use the term “positive” to differentiate it from “prescriptive” theory. Positive Accounting Theory and Science by M. Humayun Kabir Senior Lecturer, Faculty of Business Auckland University of Technology, Auckland, New Zealand Abstract This paper examines the development of positive accounting theory (PAT) and compares it with three standard accounts of science: Popper (1959), Kuhn (1996), and Lakatos (1970). PAT has been one of the most influential accounting research programs...
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...136 Positive Accounting Theory and Science JCC Journal of CENTRUM Cathedra ™ Positive Accounting Theory and Science by M. Humayun Kabir Senior Lecturer, Faculty of Business Auckland University of Technology, Auckland, New Zealand Abstract This paper examines the development of positive accounting theory (PAT) and compares it with three standard accounts of science: Popper (1959), Kuhn (1996), and Lakatos (1970). PAT has been one of the most influential accounting research programs during the last four decades. One important reason which Watts & Zimmerman (1986) have used to popularize and legitimize their approach is that their view of accounting theory is the same as that used in science. Thus, it is important to examine how far accounting has been successful in imitating natural science and how the development of PAT compares with the three standard accounts of science. This paper shows that accounting could not emulate the success of natural science. Further, the methodological positions of PAT conform to none of the standard accounts of science. Rather, PAT contains elements of all three. Finally, this paper identifies some methodological gaps in PAT. Keywords: Positive Accounting Theory, Philosophy of Science, Methodological Controversies Acknowledgements I would like to thank two anonymous reviewers of the journal for their helpful comments. Earlier versions of this paper benefited from comments from Lee Parker of the University of South Australia, Keith...
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...identify and diagnose the problem which includes recognizing that there is room for improvement (Bateman & Snell, 2011). In my decision to leave the company I recognized that I had become a bit stagnant. I was no longer challenged by the position and my day- to- day happiness was replaced by boredom. These negative feelings forced me to recognize that I had to make a change in my career for a fresh start. The first step was not something that I set out to accomplish. It really just kind of hit me one day while I was at work. I reflected on my current feelings and saw it was negatively affecting my performance. I expected better of myself and it became clear that I had to make a change. The second step in the decision making process is generating alternative solutions to help reach the stated goals (Bateman & Snell, 2011). My goal was to find a new job, so naturally my evaluation of my alternatives started with asking myself what industry I wanted to work in. The third step involves evaluating those alternatives (Bateman & Snell, 2011). Once I had decided I wanted to stay in customer service I looked at my likely alternatives which included working in a restaurant. This seemed to be an excellent alternative due to my previous experience in the...
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...Imagine not having a choice and being used for testing without having a say; for everyone this seems like a horrible nightmare but for animals this nightmare is reality. Animals should not be used for testing. They don’t have a voice so they have no way of saying no and testing on animals is wrong in every way possible. This is unfair to the animals because they don’t have a choice. Although animal testing is wrong, it is a good way to make sure the product research is safe before retailing it and letting people use it. Animal testing should not be used because animals have no way of saying no and it is wrong is every way. Animal testing is wrong because animals can’t say no. What if you weren’t able to say no about being tested on? That’s how animals feel because they have no voice. For example, animals are being taken advantage of. Animals can’t talk so the decision on whether or not to be tested on is already made for them. Animals don’t even get to decide things that are being done to them. As said in an article, “Animals are routinely cut open, poisoned and put into cages for weeks, month, or even year” (Ocean Lu Blog). Animals don’t deserve to have all of these things done to them. Animals also have no say in what gets done to them. Sometimes animals get things that don’t belong in their bodies put into them just to see how they react. They don’t have a say in whether or not they can have these things put into them. As said in an article, “Some animals are even given...
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...groups teachings. This means that the group members must agree with all of the groups beliefs (Janis). In the beginning of the work, the people begin to speak of how the lottery is being given up in the north village. Mrs. Adams also speaks of the vast amount of places that have already quit lotteries. However, Old Man Warner states, "Listening to the young folks, nothing's good enough for them. Next thing you know, they'll be wanting to go back to living in caves, nobody work any more, live hat way for a while. Used to be a saying about 'Lottery in June, corn be heavy soon.' First thing you know, we'd all be eating stewed chickweed and acorns. There's always been a lottery" (Shirley Jackson 5). From the word of Old Man Warner, we are given an understand of selection bias at hand (Janis). Old Man Warren believes that the people of the town would not be civilized or sophisticated without the lottery. He makes them believe that the only way to keep order in the town is to continue using the lottery. This is why the people believe that the lottery is morally...
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...goals and values of the organization, has a stronger desire to belong to the organization and is willing to display greater organizational citizenship behaviour i.e., a willingness to go over and beyond their required job duties. And if human resources are said to be an organization‘s greatest assets, then committed human resources should be regarded as an organisation‘s competitive advantage. This paper will analyze the concept of organizational commitment, what it means and why it is so relevant to organizations. In fact, vast numbers of studies have found positive relationships between organizational commitment and employee behaviours such as a greater effort exerted by the employee in performing tasks, higher employee retention, better work attendance, increased willingness to engage in citizenship behaviour and higher delivery of service quality. In essence, this shows an all-round higher employee performance effectiveness. Moreover, in today’s fast paced and dynamic business environment, organizations can no longer guarantee "a job for life" which has made the notion of organizational commitment even more pertinent. It is therefore in the organization's best interest to elicit this kind of behaviour. Various means of securing organisational commitment, in a cost effective way, are also highlighted in this paper. Ranya Nehmeh is a holder of a Masters degree in Human Resource Management & Industrial Relations from the London School of Economics and Political Science (LSE)...
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...financial statements are not material to the consolidated financial statements. b. Document in the engagement letter that the principal auditor assumes no responsibility for the other CPA's work and Opinion. c. Obtain written permission from the other CPA to omit the reference in the principal auditor's report. d. Contact the other CPA and review the audit programs and audit documentation pertaining to the subsidiary. Explanation Choice "d" is correct. When the principal auditor decides not to make reference to the audit of the other auditor, in addition to satisfying himself or herself as to the other auditor's professional reputation and independence, he or she should visit the other auditor, discuss the audit procedures, and/or review the audit programs and audit documentation of the other auditor. Choice "a" is incorrect. The principal auditor may decide not to make reference to the other auditor e\€n when the portion of the financial statements audited by the other auditor is material. When the auditor takes this position, he or she should not state in his report that part of the audit was made by another auditor. Choice "b" is incorrect. The principal auditor's decision not to assume responsibility for the other auditor's work need not be included in the engagement letter. Choice "c" is incorrect. The principal auditor does not need permission from the other auditor to assume responsibility. Permission is needed only if the principal auditor decides to divide responsibility...
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