...Economic Factors Economics affects everyone on a day to day bases whether aware of this fact or not. Economics in a nut shell is the branch of study and knowledge concerned with the production, consumption and transfer and allocation of wealth. Specifically we will be looking at the branch of economics known as macroeconomics or the economy as a whole and globally. Every action that involves goods, services, and money affects the economy of a country or nation. Simple actions such as shopping or buying groceries can have a huge effect on an individual, business and governmental level. Other factors that have a huge effect on global economics are layoffs and unemployment, as well as government actions such as tax increases or decreases. Food is a necessity for the survival and ability for individuals to thrive. Buying groceries is a task that most have come to hate, but realize the need to continue this act. Every time a grocery cart is loaded, paid for and bagged the economy is affected. Households business and even government are affected by the production, distribution and purchasing of groceries. On an individual and house hold level, families have to budget for groceries. Food is dire for survival, but for some people living pay check to pay check obtaining food can become a constant worry over having the necessary funds. According to “USDA” (2015) “the food-at-home (Grocery store or super market food items) CPI was down 0.5 percent in March and is 1.9 percent higher...
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...Hagel, Jack. "The long-term effect of doing more with less: Doing less." Journal of Accountancy . (2013): n. page. Web. 22 Jan. 2013. The long-term effect of doing more with less: doing less It is no secret that companies and small businesses have been forced to lay-off or terminate employees in order to cut costs due to the recent financial crisis. Experts are now researching the long-term effects of these practices. When you lay-off or fire employees you are essentially distributing extra work among you remaining employees . These employees are forced to work longer hours and/or have increased work loads, causing the employees to be overworked and stressed. Stress can breed sickness, so companies are actually paying more for healthcare for their employees. Having overworked, stressed, and sick employees hurts employee morale and employee productivity, which in turn hurts the company’s profitability. In conclusion, stretching your employees too thin can be detrimental to your business. The success of a business is partly determined by it’s employees. Employees that are well rested, not overworked, and not under a lot of stress are better able to perform in the work environment. They are more productive and higher productivity means higher profits for the company. Before companies lay-off or terminate their employees they need to know all of the costs and not just the financial costs. In most cases the cost of laying off the employees is higher in...
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...was 499 million dollars and this is an increase of 3.1% from year 2006 (Datamonitor,2007). Southwest airlines have been profitable even when its competitors have been struggling to gain a small amount of profit. What are the strategies that SWA is following to be this successful ? Alternatives to lay-offs : There are several alternatives to lay-offs that cut costs and reduce labor surplus with less disadvantages. Some examples of these alternatives are downsizing, pay reductions, transfers, work sharing, and hiring freeze (Noe,R. Hollenbeck,J.Gerhart,B, & Wright,P ,2010). In the wake of 9/11 terrorists attacks, Southwest refused to lay-off employees while its competitors got rid of employees and unprofitable routes. Southwest took the positive side of this difficult times and increased its existence and used their low cost model. Planned purchase of new planes was delayed. Also, it scraped ongoing plans to renovate the company's headquarters. Moreover, Southwest used the cash they have to get through this rough situation. They minimized the time aircrafts spend on the ground without flying on air and making revenue (Hoffer,2002). Long-term advantages of no lay-offs policy : Although it was challenging for southwest to keep all the employees , it has gained many benefits in the long run....
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...experienced astronomical growth behind the leadership of its CEO, Ken Lay, and executives Jeff Skilling and Andy Fastow. However, this growth did not come from hard work alone, as the film details some of the underhanded tactics used by Enron to become one of the largest companies in America. Lay, Skilling, and Fastow created an environment where all that mattered was the bottom line, meaning that anything was in the realm of possibility (no matter how despicable) as long as it brought hefty returns for the company. There were many lessons to be learned from Enron. First off, we learn a great deal about the psyche, and how certain primal urges can cause us humans to do things that would at first glance seem appalling. Also, the importance of company culture and corporate ethics is revealed throughout this film. There was a great deal of negative energy permeating throughout Enron that made it nearly impossible for them to sustain their upward trajectory. By no means should Enron’s leadership be let off the hook for what they did, but it is important to understand what motivated them to act in such a way. Early in the film, we get a little background information on the company’s leaders. Lay grew up in poverty and learned the value of hard work early on, as he watched his father work many jobs. He would always think about a better life, and how he could use business as a way to attain wealth. The fact that Lay could not enjoy the finer things as a child led him to always push forward...
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...with their families, they may not always welcome a reduced pay check. Also, employees may find that the same amount of work still needs to be performed while they spend less time on the job. Nucor Steel Corporation in South Carolina has avoided layoffs for 35 years by reducing to two- and three-workday weeks for its employees during downturns (George, 2004). Recently, workers at a St. Thomas automotive parts plant in the UK have voted to reduce their work week rather than see 200 employees leave permanently (De Bono, 2008). Firing: Due to non-performance is difficult; laying off employees due to poor business performance is harder. The effects of downsizing are significant; understand employee rights termination practices. No one likes firing employees or laying off employees due to a work slowdown. No one. It is an emotional time for the employee and even for the employer. Before you fire or lay off employees staff in your employ, make sure it is the right decision. Transfer: Employer offers to transfer the employee to a different location that is within a reasonable commuting distance Job...
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...2.Until 1998, there were two major American manufacturers of DRAMs – Texas Instruments (TI) and Micron Technology. Then, TI sold its factories in Avezzano (Italy), Richardson (Texas), and Singapore, and interests in two Asian joint ventures to Micron Technology. TI shut the remainder of its DRAM production facilities including one in Midland, Texas. (A)Which probably had the higher average cost – the Richardson or Midland plant? (B)Compare the effects on the world wide long-run DRAM supply of TI’s sale of the Richardson plant with its closure of the Midland factory. (C)Explain Micron’s decision to buy TI’s plants in terms of differences between the two companies in their expectations of long-run DRAM prices. Answer (a) TI’s sale of the Richardson factory did not change the worldwide longrun supply of DRAMs. Its closure of the Midland factory did reduce the supply. (b) The Midland plant probably had the higher average cost, which explains 2 2200022 391 366 339 Production (‘000 ounces) 314 350 356 why TI could not sell it and had to shut it. (c) No. There might have been other DRAM plants in the United States, but owned by non-US firms. 3.The short-run supply of gasoline has been estimated to have an elasticity with respect to price of 1.61, and with respect to wages of −0.05. (A)Explain why the elasticity of supply with respect to price is positive while the elasticity with respect to wages is negative. (B)How would a 5% increase in the price of gasoline...
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...long and are aquatic. There unique hairs on their legs allow them to skate across the water’s surface. They have three pairs of legs like insects but the backs legs are much longer to aid with steering and the front legs are used for grasping prey. The water strider lays eggs on the edge of water on rocks or aquatic plants. These insects eat other insects no matter if they are dead or alive. They have sucking mouth used to eat either terrestrial insects that have accidentally fallen on the water’s surface or other aquatic insects like mosquito larvae as it comes to the surface (National Wildlife Federation, 1996-2013). There are several factors that can change the stability and growth of this insect’s reproduction and population growth. Abiotic factors like water, temperature, and light can change the population but biotic factors like plants or other organisms can alter it also. If change within an environment happens then change to the organisms within the environment will happen as well (Elzinga, 2004). Abiotic Factors Abiotic factors are non- living components like water, temperature, and light. A rapid increase or decrease in any of these factors would have an effect on this species. Water is important to the water strider population because it is here that it lives and obtains its...
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...October 29, 2012 Dennis Cashman Labor Laws and Unions This paper topic is the organizational benefits of joining a union, the unionization process, union bargaining procedures, and the effects union bargaining has on an organization. American Airlines (AA) and the transportation workers union (TWU) are the selected organization and company. Included information, background information on American Airlines, along with history of TWU at AA, legal issues, and obstacles that AA has encountered with TWU. AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation filed in November 2011 a voluntary petition for Chapter 11 reorganization. To achieve a cost and debt structure that was industry competitive for long-term viability. There are various unions associated with the airline industry, the one chosen to discuss in this paper is the transportation workers union. TWU has 114 autonomous locals representing more than 200,000 members in 22 states around the country. As part of the Chapter 11 reorganization of AA the initial announcement that as many as 11,000 workers may be let go at the Fort Worth-based airline. The most recent announcement from AA is that approximately 4,400 mechanics, store clerks, and ground crew members of TWU will be part of a lay off. There are seven TWU workgroups representing approximately 24,000 employees at American Airlines. As part of the strategic and collective bargaining between the Transportation Workers Union...
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...Bradley Marquez: Reduction in Force (A) Bradley Marquez (BM) was created by Jim Bradley and Alberto Marquez in 1995 with the basic mission of helping companies bring their business to ethnic markets. Jim Bradley studied creative writing at Sarah Lawrence College, had nine years of marketing position experience, yet never established a college degree in any type of business aspect. The same scenario was prevalent for Alberto Marquez, who received a B.F.A in acting from Penn State, and was a professional actor and screenwriter. Neither Bradley or Marquez had any type of formal experience of how to run a business. Nonetheless, according to a leading industry publication in 1996, Bradley Marquez was listed as one of the top 10 ethnic advertising agencies. In 1997, the Omnicorp Group, specializing in advertising and public relations, purchased a number of small companies, including a 40% share of Bradley Marquez. Over the next two years, Bradley Marquez began purchasing small advertising companies in the U.S. and internationally. BM was expanding far too quickly and on September 11, 2000, a few months after the stock market bubble burst, Bradley Marquez was left looking for solutions as to help save a floundering company. Andrew Lauder was hired as chief operating officer (COO), to help right the ship in 2000. Fortunately for Bradley Marquez, Mr. Lauder had substantial business experience, from his MBA in finance and international business, along with being CEO for Muze Inc...
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...AgilentTechnologies used an open style of communication in their office to make the employees aware of what is bound to happen. The company used emails, meetings, and other media. The use of such enable them to think of possible ways in which they can search for potential replacements for their job and to think of ways in which they can get outof the problem, if ever there is a possible way to do so. In fact, even after the lay-off of almost 8,000 employees or 20 per cent of the company’s employees, it was still listed as number 31 on Fortune’s 100 Best Companies to Work For. This goes to show that despite the massive layoff, they still proved their worth as an employer, because they have open communication practices. They do not hide from their employees what their steps towards recovery are. There is a barrage of emails and continuous face-to face meetings with top management to communicate this layoff. In fact, even the Chief Executive Office of the company spoke before its workers to tell them the upcoming massive lay-off. Infosparks, the company’s newsletter did not also to relay the news inthe office. These steps which were undertaken by the company should serve as an example toother companies. Layoff is a bad news. Nonetheless, it is the right ofall the employees to be informed ahead of time so that it will give them enough time to look for other jobs. Problems like this should be disseminated carefully, in every possible way, utilizing every...
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...an organization. TYPES OF LABOR TURNOVER External mobility is of two types , Viz accessions and separations 1) Accessions : Accessions are additions of new candidates to the existing employees. It includes employment of new candidates , re-employment of former employees , employees called back to work after lay-off etc. 2.) Separations : Separations mean termination of employment. They are also called employee turnover. They include : Voluntary quitting or resignations by employees when they are dissatisfied with the present job and or organization or when they get better employment in other organizations. Layoff or Lack of work in which organizations terminate the services of employees when the jobs are eliminated or reduced due to adoption to technology or adverse business conditions or lack of power , materials , breakdown of machinery etc. Globalization and consequent competition reduced the size of most of the companies and turned many sound companies in to sick companies. These factors led to job cuts in many organizations Disciplinary lay-off or Discharge in which organizations...
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...Fundamentals of Macroeconomics ECO 372 – Principles of Macroeconomics University of Phoenix Facilitator: Kenneth Lethere July 10th, 2012 Fundamentals of Macroeconomics Intro: In the vast universe of economics, making sense of the different terminology used regularly in the business can be a difficult and time consuming task, but it will eventually improve one’s chances for success with the different paces that the purchaser’s interest will peak and bottom out, and how that can affect not just the particular retailer, but the economy as a whole when customer interest is at all time lows and money is harder and harder to find. Gross Domestic Product or GDP: Gross Domestic Product, or “GDP,” is the official measure of goods and services that are produced in a specified period, within a country. Real GDP can measure the value of goods and services that are shown in the price graphs of a base year. Nominal GDP can measure the value of goods and services that are shown in current prices. The unemployment rate is the average percentage of people living on unemployment benefits when put against the percentage of people employed. The inflation rate is a measurement of the percentage rate of price level changes or increases of price indexes, usually over a period of one year. An interest rate is the rate that is set by a lender to pay back money that the borrower has requested. Real GDP: There are many economic activities affected by different areas that impact...
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...OPEN UNIVERSITY MALAYSIA FACULTY OF BUSINESS AND MANAGEMENT COURSE CODE: OUMM 3203 COURSE TITTLE: PROFESSIONAL ETHICS FATHIMATH ADAM S0942950 TUTOR’S NAME: MR MUSLIM ANEES LEARNING CENTRE: VILLA COLLEGE TRIMESTER: SEPTEMBER 2012 Table of Contents 1. Introduction 3 2. Identification of Ethical dilemma 3 2.1. Reasons why it is an Ethical dilemma 4 3. Analysis of Dilemma 5 3.1. Effects on Stakeholders 8 3.1.1. Deceptive Argument 8 3.1.2. Normative Argument 9 3.1.3. Instrumental Argument 9 1. Recommendation and Solution 9 2. Conclusion 10 Reference List 11 1. Introduction This study concerns ethical dilemma that is occurring in Muartoto Pvt Ltd. In addition the dilemma will be analyzed using all the relevant theories of moral reasoning and ethics. Moreover, a solution statement will be recommended by analyzing the problem in the perspective of economic, legal and ethical. Reduction in workforce due to economic downturn has become a biggest concern for the employee in today’s organizations. The matter has become the forefront of the legal and policy agendas in several countries of employment context. Downsizing the workforce is critically challenging for human resource (HR) professionals. HR professionals must be a concerned about designing and executing a workforce reduction strategy that is ethically balanced. (Ronald, 2007) 2. Identification of Ethical dilemma Muartoto Pvt Ltd is expanded into wide range of service...
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...Silliman University College of Business Administration Management Department Management 33 Human Resource Management A case analysis on TUROMO PHILIPPINES Submitted by: Zevie Maputi Marquez MGT 33-C Submitted to: Professor Heidi Jill Vanessa L. Sierra Instructor CENTRAL PROBLEM If the company did all the necessary requisites of union avoidance, what went wrong in the process, which resulted to the shutdown of Turomo Philippines? OBJECTIVES * To find out the main reason behind the formation of labor unions in companies. * To find out the lapses of the union avoidance policy * To find out certain actions that could have been implemented in order to avoid the shutdown of the company. SWOT ANALYSIS STRENGTHS * Turomo Philippines was firm and determined in sustaining its no union policy. * Turomo Philippines is already a well instituted company due to its US roots. * Turomo Philippines has initiated and offered a number of benefits to counter the formation of labor unions. * Turomo Philippines was wise enough in covering up the real reason behind the division of the company into two. | WEAKNESSES * Turomo’s implementation of the no-union policy which caused the revolution of their employees. * Turomo failed to hear the cries and grievances of their employees with regards to their implanted policies. * Turomo Philippines abrasive style in the monitoring of their employees created a negative impact to their workers | OPPORTUNITIES...
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...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 somewhere between 93 cents and $4.73 per day....
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