...Tanglewood Case 2: Planning To: Dr. Grace From: Tanisha Yorrick Date: 9/16/2015 Subject: Tanglewood Planning Introduction Tanglewood is trying to conduct a hiring plan for its upcoming year. They need to meet certain numbers and plan for expected shortages and surpluses. They are seeking assistance in identifying the trends in their labor market, filling vacant positions, reducing turn overs and updating their affirmative action plan. Key Points This section contains the key issues for Tanglewood to address and rectify. * There will be employee shortages in the upcoming year that will require the company to seek outside sources in the form of new hires, temporary assignments and temporary hires. There will be a surplus that will require the company to enact a hiring freeze and internal promotion. * Tanglewood needs to reach out to the community to better promote their open positions within store associate, shift leader and assistant managers and capitalize on the current unemployment rate. They will need to change the marketing and promotion plans for the listed positions to boost hiring. * Tanglewood needs to be able to better match the minority and women representation within the community to remain complaint with the EEOC. They need to revamp their outreach programs for the position of shift leader. Analysis Tanglewood’s environment is going to be a challenge for their hiring needs. They have the availability of an unemployed potential...
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...can show growth and have succession planning in any company, but it shouldn’t be Apple’s one and only source of growth because it may limit new ideas and innovations from coming to the table from external experiences. In order for Apple to draw interest from the best talent, Apple must have the best talent searching for the best talent. The recruiters must be savvy and knowledgeable about Apple products. An individual who applies for a position most likely has an in depth perception and understanding of Apple’s products and services. It’s critical that the behavior of the recruiter does not alter the image of Apple. Recruiters must give a realistic job expectation and preview of the position. Failure to do so can possibly lead to employee job dissatisfaction. The first way Apple can effectively plan for HR resources is by forecasting of...
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...What is the subject matter of economics? What role does the “division of labor” play in defining this subject matter? The subject matter of economics deals with social science concerned with administration of scarce resources. These resources can be objects and services that are capable of satisfying human needs and wants in both direct and indirect ways. This can be by helping to produce other objects and services whose use satisfies human wants. The administration of resources does not always create economic problems. There are lots of these resources that are more than enough to satisfy all of human wants and needs completely depend of them. One such resource example is “Air”. Such type of resources are known as free resources where it’s not necessary to organize its use because there is no side effects or waste for any inefficient use of such resources. On the other hand, scarce resources are resources that are not sufficient to fulfill human wants and needs completely. Therefore, these types of wants can only be partially satisfied. This reflects the problems of administration which are the subject matter of economics. Firstly, one of the problems of administration is to make sure complete utilization of scarce resources, because incomplete utilization may cause dissatisfaction to human beings. Secondly, in cases where these scarce resources are fully utilized, there is still an ongoing administrative problem of allocating the resources as required by the different uses...
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...staff. Step:Environmental Scanning(External and internal)=>Labour Demand Forecasting=>Labour supply analysis=>Balancing demand and supply Emphasied the need to diagnose(discover) the real reasons for mismatches in supply/demand Using a mix of qualitative and quantitative techniques It Involves: Forecasting labour requirement for an org Predicting likely(will happen) sources Environmental Scanning Development of Objective and Goals Formulating the necessary steps to meet needs Evaluation(Judgement) of the planning process The HR Planner should: 1st Analyzing Environmental Factors and Organization Direction=>Forecasting Demand Analyzing Internal & External Workforce=>Forecasting Supply 2nd Planning in HR,Employee Development,Finance &Budget and Logistical(Back of the Field) 3rd Implementing(Action!) Strategy,Process,Operational Changes and Evaluation&Feedback Notice*** Stages of HRP: Stage 1:Analysis: Analyze the environmental factors,organizational direction,internal &external...
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...Ethan Tremblay Strayer University Eco 400 Prof Elkhana Faux Karl Marx On Our Recession I am choosing Karl Marx as my reference and using his theories to try to form a subjective view of how he would try to explain the problem that is ongoing in the financial global recession. He would blame the recession do to the Overproduction of the system and its struggled to sell it all. Marx would have been bold in his prediction that a host of problems in the current system (capitalism) namely overproduction, declining rates of profit, class inequality and speculative bubbles would inevitably produce a serious global recession. Marx would argue that since the development of capitalist monopolies around the world at the end of 19th century, there has been a systematic tendency toward stagnation in businesses. Monopolies have eliminated competition, set prices to increase their profits, but do not invest in expanded reproduction (new factories, new technology, new machinery), and therefore the economy tends to face a problem of low growth. Overproduction as Marx would call it is transformed by reformist theorists into under consumption, the idea that the mass of workers are paid too little to buy back what they did produce. This surely leads to the program of persuading owners to advance their own interests by paying the workers more. Those workers will then be able to consume and purchase more, and thereby crises will be forestalled or dampened. Marx would say that overproduction...
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...Surplus Deficits ECO/372 September 10, 2010 Surplus Deficits A surplus in this economy can be beneficial to many businesses and as a whole society as well. A surplus benefits out society when producers and consumers sell their goods or services to the public. It is known that economic surplus is made up of two parts which are producers and consumer surplus. The producer surplus is the benefit that it receives from doing their service to the public at whatever the market price is at that time, rather than selling their services at a much cheaper rate. A consumer surplus is very different and opposite of that of a producer surplus. A consumer surplus is the benefit that it receives from purchasing their services from the public where they would be willing to pay more for the service they purchased. A government budget surplus can be very beneficial to the economy. A government budget surplus can be beneficial in that it gains revenue through taxes and other fees associated with the surplus. A budget surplus does have its effect on the economy in how the government officials use their funds. Two periods in time that comes to mind where the United States had to run their budget surpluses is the War in Iraq from 2003 to 2011, and the September 11th, 2001 attacks in New York at the World Trade Center. According to “A History of Surpluses...
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...“Adam Smith’s Work as it Applies to Modern Society” By Mour August 25, 2011 Referenced Book: Wealth of Nations by Adam Smith Adam Smith was a visionary; He described the issue of the Wealth of Nations in twofold, why a society driven by self-interest can exist on the other hand, describes how the “System of natural liberty” appeared and how it works. Book 1 – Of the Division of Labor The World as today The wealth of an industrial nation is the power of labor and the division thereof in order to increase the input of all type of production. Smith explained “The division of the Labor” does not originate itself from human wisdom or of a plan, but is the consequence "of a certain leaning natural one to all the men, that the door to do business and exchanges something to another. And the motivation of this tendency to the exchange is not the benevolence, but the personal interest, that is to say the desire to improve his living condition for the better. Smith concept of wages of labor is a fundamental metrics to satisfy the effort required to produce goods and manufacture a product. The profit (return on sales or investment such as rental properties, commercial building and equipment), buy or sale stocks are conceptual means of increasing an owner’s return on investment. Smith demonstrated that the division of labor will add more efficient methods of doing different...
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...Introduction Fayol’s 14 principles derive from the circumstance that Fayol felt that management was not well defined. In his striving to change this circumstance he suggested “some generalized teaching of management” to be a main part of every curriculum at places of higher education and even beginning in “primary schools” . Fayol’s dedication to this idea is demonstrated by the fact that after retirement he went on to not just write books about management ideas, but more importantly, he found the Centre For Administrative Studies (CAS) in 1917 in Paris . The CAS mainly functioned as a centre of discussion between professionals from a large variety of professions, in order to further the knowledge and understanding of management principles. Discussion is what Fayol had in mind, when he presented his 14 principles . In Fayol’s own words: “Are they [the principles] to have a place in the management code which is to be built up? General discussion will show”. In the following I will discuss each of his principles under the aspect of a comparison with examples, historic or modern, and in relation to other theoreticians of management, in order to examine how Fayol’s principles hold up as “management code” today. Principle 1: Division of work The idea of division of work, or as Adam Smith called it “division of labour”, in 1776 probably goes back to the beginning of work itself. Fayol recognizes this in considering specialization as part of “the natural order” comparing...
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...Economics of Daily Life Economics of Daily Life Economics is a study of how society manages its scarce resources. The literal translation for economy is “one who manages a household.” “In an increasingly complex world connected by social and economic interaction and interdependence, news of stock market fluctuations, consumer confidence scores, and various economic indicators fill the media” (Broome & Preston-Grimes, 2011). This means that economics is everywhere, even in a home. Every household makes decisions that follow the economic principles. There are tradeoffs, and incentives. Supply and demand regularly show up in a household setting, as do decisions regarding limits on price and time. I am a single mom and the science of economics is a daily occurrence, at the grocery store, while doing homework, and in my choice of home and bills. Economics is an inevitable part of most people’s daily lives. It occurs in every facet of home, work, and school. There are ten principles to economics. They are the decisions that need to be made in regards to the jobs that need to be done, and the management of the resources that will allow the necessities to be provided. One of the principles that occur most in my daily life is tradeoffs. Tradeoffs occur when a person has to choose between one thing and another, forgoing one desirable option, for the more beneficial, sometimes undesired option. In a study done in 2011, a Montessori middle school set up a school store. Some...
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...+ R&D Labs + Consultants + Small Bus | 42,000 | $650,000 | $225 | $200 | 200,000 | 7,550,000 | Industrial Version | Large Corps + R&D Labs + Consultants | 27,000 | $450,000 | $600 | $565 | 500,000 | 14,305,000 | Multiple Version CSC should offer student version at $50 and industrial version at $1950. Maximum net contribution can be achieved when the 'heavy users' and 'light users' are served separately. Heavy users, though they are smaller in size have higher WTP. The price for the industrial version has to be set at $1950 because otherwise the R&D and labs users will buy only student version as their consumer surplus is maximum there. So, to incentivize these customers, we lower the price by exactly the consumer surplus these users will get - $50. Large MNCs will buy the industry version at $1950 as their surplus is maximum at $550. In the same way, consultants, small business and students will all buy at $50 as their consumer surpluses are $150, $125 and $0 and also because they don't have another option. The total net contribution in this case is $20.58 million. Modeler Version | Market Segment | Size | Segment Dev Cost | Price | Unit Contribution | Product Completion Cost | Net Contribution | Student Version | Consultants + Small Bus + Students | 535,000 | $700,000 | $50 | $15 for students, $35 others | 100,000 | 7,925,000 | Industrial Version | Large Corps + R&D...
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...equilibrium ("What Is Market Equilibrating Process"). This process is also referred to as a circumstance where the supply of a product is precisely equivalent to its demand. As a result, the price remains steady in this situation as there is no surplus or shortage is reflected in the market. The market has reached equilibrium as the supply and demand curves interconnect. At this point, quantity supplied and the quantity that is demanded is equivalent. Surplus and shortages are detected if the market price is higher than the equilibrium price and the quantity supplied is greater than quantity demanded therefore creating a surplus then the market price will fall. For example, retailers often have surplus of inventory that cannot sell therefore the prices are reduced and placed on sale. Since the price has decreased, the product’s quantity demanded will increase until equilibrium is obtained and as a result, surplus drives price down. Also, if the market price is lower than the equilibrium price, the quantity delivered is fewer than the quantity demanded thus producing a shortage. If a surplus is in existence then prices should decrease in an effort to attract extra quantity demanded and minimize the quantity supplied until the surplus is removed. If a shortage is present then prices should increase in an effort to attract extra supply and...
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...ASSIGNMENT 7 1. The professor starts with the award for maintaining excellent quality so that the students know the importance of six sigma standard which is needed to achieve this award. Moreover, ISO 9000 makes students aware on what’s the minimum level of standard necessary to ensure organizations meet the needs of their customers in terms of quality. 2. Service Encounter Triad captures the relationships between the three parties in a service encounter and suggests possible sources of conflict. Three parties in the triad are: * Service Organization * Contact Personnel * Customer 3. Different methods companies are resorting to, to shorten waits are given below. A. Animate: Disneyland Distractions; Elevator Mirror; Recorded Music B. Discriminate: Avis Frequent Renter Treatment (out of sight) C. Automate: Use computer scripts to address 75% of questions D. Obfuscate: Disneyland staged waits (e.g. House of Horrors) 4. Yield management is the process of understanding, anticipating and influencing consumer behavior in order to maximize yield or profits from a fixed, perishable resource. The typical characteristics of service firms that could gainfully use yield management are given below. a. Relatively Fixed Capacity b. Ability to Segment Markets c. Perishable Inventory d. Product Sold in Advance e. Fluctuating Demand f. Low Marginal Sales Costs & High Marginal Capacity...
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...Assisted Learning Imagine you had a computer with 10,000+ times the computing power than was necessary to put man on the moon, now imagine that computer easily fitting into your pants pocket. That is the current state of our technology. Yet even with our tremendous advancements people believe that having such easy access is detrimental to our society. I believe that the opposite is true, the Internet as a learning tool is of tremendous benefit. The Internet has an endless source of information but getting past all the headlines and top 10 lists can be a nuisance but well worth the perseverance. In 2012 author Nicholas Carr published the article “Is Google Making Us Stupid?” in which he argues that the structure of the Internet is resulting in shallower and scattered thought. Carr argues that the amount of information available on the web is causing him to “zip along the surface like a guy on a jet ski” (Carr 2). Carr believes that because information is so vast and quick to access it is rewiring his brain for decreased contemplation. While it may be true that skimming information is the easiest option, I believe that delving into a subject is just as simple. Recently I was interested in learning a programming language and was introduced to the website codeacademy.com where users can take a free guided online class to learn the basics of a language. I finished the class and had a much better understanding of coding than I had prior. But I realized that what I learned was just...
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...the effects of the division of labour (pg. 3). The division of labour plays a extremely important role in book I. Adam suggest that this will spread wealth all the way down to even the poorest in society, an idea that closely resembles the theory of trickle-down economics. He implies that because the division of labour would be met with great success, it would create a surplus of products in the market and therefor create a greater access of goods to those who would generally be unable to afford these types of products. He argues that goods are produced at a much accelerated rate when the labour is divided. The division creates specialised knowledge and workers with dexterity (pg. 1) . His model of labour seems to closely resemble that of the industrial revolution and sweat shop labour, and I am guessing that his theory still plays a large role in manufacturing today, especially in developing nations where factory work is common, such as in China, Costa Rica, Indonesia, India, etc. In chapter II, Smith goes on to say that the idea of trade, is embedded in human nature (pg. 10). When a surplus is created, man can trade his good for one of his neighbours, which increases the wellbeing of everyone in a society. Adam’s writes, « It is the necessary, though very slow and gradual, consequence of a certain propensity in human nature, which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another » (pg. 10) . When...
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...This project analyses the Minimum Support Prices (MSP) applied by Government of India. Justification for the MSP applied to wheat is also given. Finally measures to reduce the MSP expenditure are given. | Table of Contents 1 Introduction 4 1.1 What is a Minimum Support Price? 4 1.2 What is the need for MSP? 4 1.3 How Government decides MSP? 4 1.4 List of product that receive MSP 5 2 MSP Policy of Wheat 6 2.1 Introduction 6 2.2 How did MSP policy of wheat come into picture? 6 3 Justification of MSP for Wheat 8 4 MSP Pricing of Wheat – Higher or Lower 10 4.1 High MSP – Increases Inflation 10 4.2 Low MSP – Farmer’s Income Affected 10 5 Critical Analysis of MSP Policy 12 5.1 Consumer Surplus 12 5.2 Producer Surplus 12 5.3 Deadweight Loss 13 5.4 Other Effects 14 5.4 Measures to minimize MSP expenditure 16 Bibliography 18 1. Introduction 1.1 What is Minimum Support Price (MSP)? Minimum Support Price is the price at which government purchases crops from the farmers, whatever may be the competitive equilibrium price for the crops. A price floor, which is also referred to as a minimum price, sets the lowest level possible for a price. Price floors/minimum prices only have an effect if they are set above the actual market clearing price. There are many instances of governments in the real world setting price floors, such as setting a national minimum wage for labour to ensure that individuals are able to earn...
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