...Advertising Associate Date : March 24, 2010 Re : New Approach for Extra Income As a consequence of the recent increase in minimum wages, there is an increase in the discretionary income of our current advertising base. People with more money tend to spend more. Our current advertising approach does not take this into consideration. This is a proposal to modify the approach in our advertising strategy so that we can take advantage of the coming shift in our advertising base and enhance our advertising revenue by expanding our potential client base. The rationale behind the proposal and its implementation will be elaborated in the following report. When people have achieved basic survival needs such as food, shelter, and relatively secured physical and financial safety, they seek to attain things that they haven’t yet possess, such as status symbols or a sense of belonging to an exclusive group. If we can encourage our existing advertisement consumers to spend their extra income, hence shift the demand of our current advertising base to consume more upscale products, then we stand to gain an expanded and more profitable set of ads buyers. This project is a market study in potential new products in which ads targeted for the new minimum wage consumers segment can be created. This project will determine the current advertising consumers’ income. The result of this project will be used in devising a strategy to create and capture new demand. Indirectly, it would also contribute in determining...
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...Teamwork and Motivation November 11, 2014 This paper will provide insight into how motivation is used in business. It will provide details on an organizations motivational plan, the theory used within, how to motivate a minimum wage worker and the affects of a diverse team. The diverse team’s culture, communication, attitude and behaviors all affect the desired outcome. Finally, it will touch on the experience of working in a team for the project. Identify significant elements of an organization motivation plan that encourage high job satisfaction, high productivity, high quality work, and low turnover (i.e., job flexibility, training, recognition). Motivation is defined as forces within the individual that account for the direction, level, and persistence of a person’s effort expended at work (Schermerhorn, Osborn, Uhl-Bien, & Hunt, 2012). A company’s motivation is the organization’s life-blood; but it is not always the focal point in the company’s strategic thinking. Many organizations think of motivation as an afterthought and don’t put much effort into it until something starts to go wrong or goes wrong. Unfortunately, pain and chaos gets people’s attention. Motivation is difficult to harness, it is intangible energy source that drives all human actions. Everyone has an interest in motivation, but few, know how to manage it and provide an overall game plan to capitalize on it. The ability to motivate employees is essential in today’s business....
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...Battle to Raise Minimum Wage Lyvonda Wadley Baker College The raising of minimum wage will have a negative impact on the economy while $15 minimum wage increase ripples across the states. In the article The Hamilton Project explains, “U.S. policymakers continue to engage in an active debate over the minimum wage. Calls for minimum wage increases—at the federal, state, and local levels—are based on the premise that rises in the minimum wage will improve the economic well-being of low-paid workers (Kearney, M. S., & Harris, B. H. (n.d.)... Minimum wage increase would actually have a deleterious effect on the economy, low-skilled workers, unemployment, and surrounding businesses. “Congress instituted the minimum wage in 1938 as part...
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...Structures Should minimum wage be raised to $15/Hour? The city of Seattle, Washington has raised their minimum wage this year to $15/Hour leading to a long-overdue movement toward a living wage. Many retail and fast food workers are demanding that their state follow in Seattle’s lead by raising the minimum wage to $15/Hour but many conflicts have risen due to those demands. In my personal opinion minimum wage shouldn’t be raised. Across America, the ranks of the working poor are growing. While low-paying industries such as retail and food preparation accounted for 22 percent of the jobs lost in the Great Recession, they've generated 44 percent of the jobs added since then, according to a report from the National Employment Law Project. Last February, the Congressional Budget Office estimated that raising the national minimum wage would lift many people out of poverty. Lifting the minimum wage would provide some benefits for many low-income families. The starting minimum wage in California is $9/Hour for general retail and fast food workers. General retail and fast food jobs are meant for high school and college students to get them work experience and also to teach them responsibility. Retail and fast food jobs aren’t meant to make a career out of them but are meant to be a temporary job for students. In conclusion, people shouldn’t try to make a career out of retail or fast food jobs because they weren’t design for that purpose. The workers that demand minimum wage to be raised...
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...you can make via www.economicshelp.org/blog/donate It is not permissible to copy this guide for others. It is only freely available from www.economicshelp.org/ You are welcome to leave feedback and ask further questions on Economics at: www.economicshelp.org/blog Richard Tejvan Pettinger 29 Campbell Road mail@richardpettinger.com www.economicshelp.org 2 AQA Edexcel OCR • • • • • • • • • • • • • • • • • • Unit 5 Unit 4 Unit 4388 Costs Law of Diminishing Returns Economies and Diseconomies of Scale Production Decisions The Objectives of Firms Efficiency Competitive Markets Oligopoly Contestable Markets Monopoly Competition Policy Price discrimination The Labour Market Poverty and Alleviation of Poverty Market Failure Cost Benefit Analysis Privatisation Regulation of Privatised Industries www.economicshelp.org 3 Costs • • • • • • • • Fixed Costs: Variable Costs: Total Costs: Marginal Cost: Sunk Costs: These are fixed costs that do not vary with output. E.g. cost of building a factory These are costs that do vary with output E.g. electricity, raw materials Fixed + variable costs This is the cost of producing an extra unit These are costs that are not recoverable e.g. advertising = = = TC / Q VC / Q FC / Q Average Total Cost (ATC) Average Variable Cost (AVC) Average Foxed Costs (AFC) The Law Of Diminishing Marginal Returns • • • Total Product (TP) Marginal Product(MP) This is the total output produced by workers This is the output produced by an extra...
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...Max Edwards Increasing the Minimum Wage By reducing employment growth and/or eliminating jobs, economists have long understood that adoption of a higher minimum wage can harm the very poor who are intended to be helped. Nonetheless, a political drumbeat of proposals—including from the White House—now calls for an increase in the minimum wage from our current $7.25 per hour to levels as high as $15 per hour. These changes are coming after years of national debate about how the government needs to raise pay so families can earn a living wage. The first time the U.S. federal minimum wage was established during the Depression and was first instituted in 1938 as part of the Fair Labor Standards Act when it was 25 cents per hour, since then it has risen from to $7.25 per hour. Despite the increases, inflation has eroded its value. To make todays minimum wage return to the value it held in 1968 would require an increase to almost $10 per hour. President Obama initially proposed raising the minimum wage to $9 per hour in his February 2013 State of the Union address which in adjusted terms would put it back at its early 1980s level. The President later embraced a proposal in Congress to raise it to $10.This would boost the wages of an estimated 15 million people according to administration. Supporters of these efforts make it known that women in particular are likely to benefit significantly. But increasing the minimum wage may have other economic impacts beyond adding more...
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...Introduction Minimum wage refers to the lowest hourly, daily or monthly wage an employee is legally entitled to when working. Minimum wage is in effect in a range of different jurisdictions with differences in the views on the advantages and disadvantages being disputed by people. Supporters claim minimum wage increases the standard of living for workers whilst reducing poverty. Opposite views are that if it is high enough to be effective then it increases unemployment, particularly among workers who are inexperienced or handicap, thus harming the lesser skilled workers to benefit the better skilled workers The effect on employment rates due to minimum wage rates is a highly contested policy within economics. The introduction of minimum wage into the market can lead to competitive employers cutting employment; this depends on the rate of the wage rises require to comply with the current minimum wage according to the “standard textbook model”. Other models have also been suggested in which a decline in the employment rate may not occur and in fact employment may increase. During my research I found a wide range of literature on minimum wages, particularly on the effects of a minimum wage policy in place. Though a lot of informative research was concluding I also found the argument between weather the effects and positive of negative on employment, both sides of the disagreement present a large amount of information supporting the theories. Research before the 1990’s mostly...
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...Advocacy Project: Minimum Wage There are many topics of debate that exist throughout the country. These topics encourage people to get involved in order to promote change. One particular issue of debate is the topic of minimum wage. Minimum wage is defined as the lowest amount that employers can legally pay their workers per hour of labor. It helps to eliminate sweatshops and it helps to guarantee that people are getting paid fairly for the amount of work that they are performing. In addition, minimum wage was also established to protect young workers and minorities from getting underpaid. Therefore, minimum wage should be increased in order to keep pace with the standard of living and to keep people out of poverty. Minimum wage...
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...many connections that have caused the gap in the United States. According to the research I found, income inequality is connected to corruption, trade, wages of workers, and education. The world income inequality had declined since the twentieth century according to the studies found (Clark). Corruption falls increasing on low income individuals more than higher income individuals. Additionally, the trade theory suggests that the free trade might have level up the income inequality higher within countries by the different patterns of wages and demand for workers who are skilled and unskilled (Silva and Leichenko). Moreover, the education of wealthier people has it easier because the learning efforts of education are unbalanced. Besides, income inequality in the United States is hurting our economy due to the all the issues of corruption, trade, wages, and education. They also point out that some of the causes of income inequality are "differences in ability, education and training, discrimination, tastes, and risks.” As a whole we saw these factors very useful in explaining why it exists, but the problem with these is that they are mostly abstract. It is almost impossible to measure someone's tastes and preferences, but it is easy to measure the level of education and the degree of discrimination. Before researching this project we came up with factors that we perceived to be major factors causing income inequality. These factors consist of racism and sexism, free trade and foreign...
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...ENG 111 10 March 2014 The Reasons Why Federal Minimum Wage Is Raised U.S. President Barack Obama signed an executive order on February 12, 2014 to raise the minimum wage for federal contract workers to $10.10 an hour starting next year and encouraged employers nationwide to increase wages for their workers. The president also announced during his State of the Union address last month that he intended to take executive action to raise wages for federal contract workers (Mason). Order to understand this issue, we are going to understand what the Federal Minimum Wage is and when started it in the U.S.A. According to the United States Department of Labor (USDL), early in the administration of the Fair Labor Standard Act (FLSA), it started to be apparent that the use of the legal minimum wage was prone to producing undesirable efforts upon the financial systems of Puerto Rico and also the Virgin Island if put on all their covered industries. As a result, on June 26, 1940, an amendment was passed prescribing the establishment of special industry committees to find out, and problem through wage orders, the minimum, wage levels relevant in Puerto Rico and also the Virgin islands. The rates established by industry committees might be under the legal rates relevant elsewhere within the United States. In 1949, the minimum wage was elevated from 40 cents an hour or so to 75 cent an hour so for those employees and minimum wage coverage was extended to incorporate employees in mid-air...
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...that the company executives have introduced as plan of actions to circumvent any more delays as well as encourage further innovation for the success of the company and that of its employees. Upon further research and review, we revamped the organization’s motivation plan so we could better benefit the areas in which needed work. We were missing vital elements that would allow continued success, satisfaction of our employees and managers. Motivation serves the organization as well as that of its employees. Motivation has been defined as, ”the psychological forces that determine the direction of a person’s level of effort, as well as….persistence in the face of obstacles (Anonymous, 2010, p. 1)”. In order to create a valid plan we had to identify what the organization needed as well as what motivated our employees. The assumption is that money motivates workers and gains their loyalty. However, research has found there are more valid motivations out there than money. A motivation plan has to be included in a company’s vision or mission statement. Employees at all levels should be aware of the expectations of not only them but the management as well. Every plan should at a minimum, include elements of building trust, individual and organizational engagement and values that focus on job satisfaction, rewards and achievements (Anonymous, 2010, p. 1). These elements are vitally important when starting to build a motivation plan for any organization. The motivational plan...
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...This alphabet agency was the largest and the most ambitious American New Deal agency as it helped to employ millions of unemployed people (mostly unskilled men) to carry out public works projects, such as constructing roads, bridges and buildings. Furthermore this programme affected many Americans as it ran for eight years and employed 8.5 million people, giving them a wage of $2 a day, thus it opened up many new opportunities and gave the American people some confidence in the new system and hope that they would combat the...
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...company; a full time staff as the core of the company, while maximizing the use of contracted labor in the execution of projects. Employment Law Employment law is a broad category of law that encompasses all areas regarding employee/employer relationships except for the negotiation process and collective bargaining, which is covered by the narrower focused category of labor law. Employment laws consist of thousands of federal and state statutes, regulations, and judicial decisions that are designed to govern the rights and duties of employers and workers. The US Department of Labor (USDOL) reports that there are 180 federal laws alone managed by 28 different agencies within the department. (United States Department of Labor [USDOL], 2014) Employment laws are focused on providing a safe and fair work place for employees and employers, alike, and have their origins in the constitution. They were founded based on public outcry against oppressive practices during the industrial revolution. The first laws founded in the 1920s were focused on fair wages, compensation for injuries, a standard work week, and on eliminating child labor. In the 1960s and 70s, statutes focused on anti-discrimination and unsafe work environments. Current issues involve employee health care, equal pay for men and women and the current debate on raising the federal minimum wage. There were also several issues addressed by the US Supreme Court of great importance to employment law including workplace...
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...A PROJECT REPORT ON COMPENSATION MANAGEMENT IN HETERO DRUGS LIMITED SANATHNAGAR, HYDERABAD In partial fulfillment of the requirement for the award of the degree of MASTER OF HUMAN RESOURCE MANAGEMENT Submitted by G.VARALAKSHMI [pic] K.G.R.L.PG COLLEGE, BHIMAVARAM. ANDHRA UNVERISTY VISKAPATANAM (2009-2011) DECLARATION I here by declare that this project report titled a study on “COMPENSATION MANAGEMENT” in HETERO DRUGS LIMITED has been carried out by me Submitted in partial fulfillment of the award of the degree of “ MASTER OF HUMAN RESOURCE MANAGEMENT”, in K.G.R.L .PG COLLEGE BHIMAVARAM. PLACE: DATE: (G.VARALAKSHMI) PREFACE In today’s changing world on should aware of latest trends market demand then only survival can be possible and can compete with others. The concept of “compensation management” plays a significant role in HUMAN RESOURECE MANAGEMENT. COMPENSATION MANAGEMENT is defined as “ systematic approach to provide monetary value to employee in exchange of work performed” A study has been conducted on “COMPANSATION MANAGEMENT” and a Questionnaire is prepared to conduct survey to know how it is working in “HETERO DRUGS LIMITED”. A through analysis is presented in this report on the study conducted with the help of graphical representation. ACKNOWLEDGEMENT I take the opportunity to express...
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...Motivation is the internal and external factors that stimulate desire and energy in a person to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal (Business Dictionary, 2013). The main priority of an organization should be its people. They are the ones who help maintain the mission and the vision of the organization as well as keeping the business flowing. This paper will provide a design of an organization motivation plan, identify two methods that motivate employees and propose three ways to motivate the minimum wage worker. Additionally, this paper will analyze the relevance of the individual work and finally provide design a individual work to team chart. Design an organization motivation plan that encourages: a. high job satisfaction b. low turnover c. high productivity d. high-quality work As the manager of Small Manufacturing Company, high job satisfaction, low turnover, high productivity and high quality work are synonymous with motivating employees and the business as a whole. A motivation plan should include the basic of job design, job enrichment, rewards and alternative work schedules. Implementing and identifying a job design is a process through which managers plan specified job task and work arrangements that needs to be accomplished (Schermerhorn, 2012). Job enrichment is the building of high-content jobs that involve planning and evaluating duties. Through job enrichment creates a valued...
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