... like advances in technology in regards to the health care system, but some have created a growing concern in the eyes of many citizens. People like Robert Reich have noticed a growing sense of inequality in America and are worried it will only increase over time. Reich in his essay Why the Rich are Getting Richer and the Poor, Poorer he talks about the problems we are facing in the 21st century and what must be done to prevent them from spiraling out of control. The economy pre-1960 in America use to be a solid unit, what happened to one happened to all but this is simply not true anymore. “We are now in different boats, one sinking rapidly, one sinking more slowly, and the third steadily rising” (Jacobus 516). The worst hit has befallen the routine producers who now have to compete in a world economy where massive amount of people are competing for cheap labor. Reich claims the increase in outsourcing being done by American companies since the late 1970’s is a major factor. A company that shows this exact change in the seventies in AT&T, which prior to 1970’s relied on “routine producers in Shreveport, Louisiana, to assemble standard telephones. It then discovered that routine producers in Singapore would perform the same tasks at a far lower cost” (Jacobus 517). Then in 1989, AT&T switched to factories in Thailand, where workers would work for even less. Constant striving for lower high-volume production costs have left many workers jobless or receiving a decrease...
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...Financial Conditions Analysis Exam 1 Answers Part I: A friend of mine showed me this video about a year ago, after I made some half-cocked right-wing political remark, as I tend to do from time to time when my emotions are high. I consider myself to be a diehard patriot and have extreme pride in the United States of America. This video is downloaded on my computer along with other short patriotic emotion evoking videos that I have stumbled across over the years. Regardless of the political views and the affiliations that Jeff Daniels or the other members and producers of The Newsroom have this video brings up very enlightening points regarding the path that the United States has taken since its creation in 1776. I am part of the same generation that the college girl speaking in the video is associated with, and I agree to some extent with the remarks made in the video “None of this is the fault of a 20-year-old college student, but you, nonetheless, are without a doubt, a member of the WORST-period-GENERATION-period-EVER-period.” This is a strong statement to agree with but I do. Over the recent thanksgiving break I we fortunate to hear stories from my father about growing up as well as from several elder members in the community. It made me consider what the past generations have contributed to this country and each generations “mindset”. You had the Greatest Generation which represents those who lived through, fought in, and supported the greatest war in the history of...
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...Discussion Paper 99 JOBLESS GROWTH IN INDIAN MANUFACTURING: A KALDORIAN APPROACH Michele Alessandrini* November 2009 Abstract Despite the remarkable economic performance in the last twenty-five years, India maintains a high discrepancy between the rate of growth of the economy and the rate of growth of employment. Labour elasticity to output has decreased over time and the capability of the Indian economy to generate employment seems to be limited. As a result, more than 60 percent of Indian workers are still employed in agriculture and 94 percent of total labour force can be found in the unregistered segment of the economy. This paper analyzes the jobless growth problem in India in terms of a Kaldorian framework where the linkages between agriculture and industry enter the labour demand through the changes in the terms of trade between the two sectors. Moreover, we investigate the role of the unorganized sector in influencing the growth of the registered employment. Using a dynamic panel dataset on registered manufacturing from the 15 major Indian states over the period 1980-2004, our System-GMM estimates show that states with a higher growth of demand for industrial goods originating from agriculture also exhibit a higher growth of employment. In addition, in those states where the weight of the unregistered manufacturing has risen over time, the jobless growth problem has worsened. Keywords: India, jobless growth, manufacturing, intersectoral terms...
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...environment and the operating environment. Industry Analysis The buyer’s hold a great deal of power in the Internet industry. Internet users without any high costs can use search engines. Google is replicable search engine used by the users of Internet industry because the organization is one of the best. Staying power is established by any business that has built a strong reputation. “The framework captures the complexity of power and proves useful for tracing changes in power status over time between value chain members in industrial relationships” (Akpinar & Zettinig, 2008, para. 2). Individuals who can develop new online services, website concepts, and technologies are considered the suppliers of the industry. Internet businesses have extended their advantages on a competitive level through excellent technology in terms of web designs and services. For instance, Google was developed because of a new and distinctive process that was applied to Internet searching. There is no company that will not contend with other companies because the competition is extremely high in the internal industry. The Internet industry is still...
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...ominous, is the underemployment rate. This rate includes two groups that are not considered in the official unemployment rate: discouraged and part-time workers (U.S. Congress, 1986, p. 12). As of June 2011 the U-6 rate stands at 16.2%. There is evidence that underemployment is pervasive in the United States. Some types can be measured more easily than others but it is apparent that many Americans are underemployed (Meyer, 1985, p.20) and because that figure is rarely ever spoken about, the costs, hardships and extent of unemployment are not fully reported or understood (U.S. Congress, 1986, p. 12). Recent studies suggest that unemployment has become a serious social issue in the United States due to the under-reported unemployment rate, the increase in financial hardship to American families, and the policies of government. Body When we do not include individuals who are discouraged, or those working part-time in the “official” unemployment rate, we are underreporting the true extent of unemployment, and creating various socioeconomic problems. Exactly what is the definition of underemployment? In developing a definition of underemployment three elements are essential and should be considered: hours worked, skill utilization and compensation. If a person is willing, available, and able to work full time who is working less than 35 hours per week they are considered underemployed. Likewise, workers that are employed at jobs that...
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...Contents Table of Figures Introduction 1 1. Role of technology to the economic development 2 2. Robots at work 2 3. Unemployment in the economy 3 4. Effect of AI and robots on unemployment. 3 Examples of affected jobs 5 Conclusion 6 Appendix – answers of some industry experts to the Pew Research Center 7 References 8 Table of Figures Figure 1 - The Pew Research Center study results 4 Figure 2 - economists poll result concerning automation and unemployment 5 Introduction Robots: these fascinating inventions that have long captured the imagination of novel writers all around the world are now becoming a reality; and their possible effect on the economy is yet to be studied and understood. Technology has so far played an important and critical part in economic development; from the first human made tool to the recent assembly-line robots. From the invention of steam engines, to the industrial revolution, to the invention of the transistor, to the internet … advancement in technology is a fine determinant of economic growth which makes them truly related. Robert Solow estimated that technology accounted for about 2/3 of the U.S. economy growth, after allowing for growth in both labor force and capital stock. However, as inventions are moving from equipment that reduce physical effort to machines that could actually replace humans, robots and AI in particular, the positive effect of technology on the workforce and the economy is becoming less ubiquitous...
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...Wal-Mart and the U.S. Economy Dr. Robert Jantzen Professor of Economics Iona College Dr. Donn Pescatrice Professor of Economics Iona College Dr. Andrew Braunstein Professor of Business Economics Hagan School of Business Iona College Corresponding Author: Dr. Donn Pescatrice Iona College Department of Economics 715 North Avenue New Rochelle, NY 10801 (914)-637-2729 (dpescatrice@iona.edu) March, 2008 Wal-Mart and the U.S. Economy ABSTRACT The Wal-Mart company, the world’s largest retailer and second-largest corporation, is a dominant U.S. business. This study investigates whether there are significant long-run relationships between the business of Wal-Mart and the overall U.S. economy as measured by an array of traditional macro-level variables. Cointegration analysis reveals that Wal-Mart sales generally move counter to overall economic conditions, dampened in more prosperous economic periods and buoyed in more sluggish economic environments. Consequently, trends in Wal-Mart sales may serve as a rather non-traditional contrarian economic bellwether. Keywords Wal-Mart . macroeconomy . cointegration . bellwether JEL Classifications E32 . L81 . M21 WAL-MART AND THE U.S. ECONOMY Introduction The Wal-Mart corporation has come under media scrutiny for a myriad of reasons in recent years. It continues to be the focus...
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...3 Introduction 4 Business Environment Analysis 5 Macro Environment 5 Economic Factors 6 Environmental Factors 7 Legal factors 7 Technology Factors 8 Societal values and lifestyles 8 Micro Environment 9 Bargaining Power of Suppliers 9 Bargaining Power of Customer 10 Threat New entrants 10 Rivalry firms 11 Substitute Products 11 Internal environment analysis 12 Core Competencies 12 Strategies and Implementation 14 E-commerce Strategy 14 Pricing strategy 15 Differentiating strategy 16 Location strategy 16 Challenges facing Business environment 17 Uncertainty 17 Unemployment 17 Recommendation 18 Conclusion 19 Executive Summary The purpose of this report is to identify and explain the core concepts of strategic management of a retail industry, David Jones. In conducting this research, academic journals, textbooks, David Jones’ company reports and online news are used as the sources of information. This report analyses the external environments such as macro-environment and industry environment as well as examine the internal core competencies, using PESTEL model and Porter’s Five Factors. Moreover, core strategies and their application will also be addressed in the article. Several key challenges faced by the current business climate and some suggested recommendations for the firm’s future strategy to overcome the challenges will also be taken into consideration. Introduction David Jones Limited (DJs) is a high end Australian...
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...Mission Statement My career mission is to become a practicing physical therapist in an outpatient clinic. By doing this I will help rehab people back to health after an injury. Vocational Objectives Some vocational objectives I have are to obtain a clinical position in a Physical Therapy facility that emphasizes Orthopedics and Sports Medicine. Another objective that I have is to work for a professional sports team as their physical therapist. The final objective is to have a private office to run my own therapy business. Strengths My StrengthsQuest results were strategic, ideation, maximizer, individualization, and intellection. Strategic means I am especially talented in the Strategic theme and create alternative ways to proceed. Faced with any given scenario, I can quickly spot the relevant patterns and issues. Ideation means I am especially talented in the Ideation theme and I am fascinated by ideas. I am able to find connections between seemingly disparate phenomena. Maximizer means I am especially talented in the Maximizer theme and focus on strengths as a way to stimulate personal and group excellence. I seek to transform something strong into something superb. Individualization means I am especially talented in the Individualization theme and am intrigued with the unique qualities of each person. I have a gift for figuring out how people who are different can work together productively. Intellection means I am especially talented in the Intellection theme and...
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...consult the module leader to obtain the country you will cover. Part 1 of the report (worth 40% of the marks) requires you to provide a statistical profile of your allocated country’s labour market and present an overview of the most important trends and developments in this country’s labour market over the past decade. Part 2 of the report (worth 60% of the marks) requires you to provide a critical review of the particular situation in your country of NEETs – young people not in employment, education or training. Specifically, using appropriate economic concepts, you should analyse the causes and consequences of being NEET. Your analysis should also critically comment on existing policy solutions and make relevant proposals to improve future policy directions. Part 1: ‘A labour market can be understood as the mechanism through which human labour is bought and sold as a commodity and the means by which labour demand (the number...
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...Journals Student’s Name Institution Journal 1: Part 1 Work in my opinion refers to the legitimate means by which man makes a living. Every individual in life has demands that need fulfillment. Individuals have responsibilities that they have to handle. Work enables individuals to earn a living that in turn enables them to meet these responsibilities. It implies that for any normal human being to live comfortably, one must work. Besides earning a living, work enables to utilize our time well. The world today could be full of vices if everybody had nothing to do. They deem that the fiend employs of redundant minds explains this situation clearly. Individuals ought to embrace the work and take it positively rather than viewing it as a punishment. Work should be as part of us, and a means through which human beings maintain their dignity and live respectable lives (Connors and Paul, 2009). The culture of rewarding hard workers cultivated in me the culture of hard work and a positive view towards life. From my tender age, I learned that the work was the way of life and the only way through which individuals could better their lives. On academic grounds, I must state that the teachings by our teachers towards work had a lot of impact on me. They taught work as a virtue and changed my perception towards work. Family provided me with my first interaction with the work. My parents could divide the work and go ahead to reward those who did good work. It instilled in me the...
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...employment is unable to find work. It also states, unemployment is often used as a measure of health in the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force. The U.S. economy has slowed significantly in the recent years. According to an article from USA Today, the unemployment rate dipped to 5.1%, the lowest since April 2008, when the jobless rate was 5%, according to data from the U.S. Bureau of Labor Statistics. The economy created 173,000 new jobs last month. Many would tend to believe that the uncertainty of the future economy has been an important factor for years. This paper will explain the types of unemployment and the effects it’s had and currently has on our economy. In a recent New York Times article, “A rising number of manufacturers are canceling new investments and putting off new hires because they fear the paralysis in Washington will force hundreds of billions in tax increases and budget cuts in January,...
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...Sector * Dr. A. Vinayagamoorthy,Ph.D., ** C. Sankar * Associate Professor, Department of Commerce, Periyar University, Salem-11. Tamil Nadu.E-Mail: avm_2007@yahoo.com ** Ph.D. Research Scholar, Department of Commerce, Periyar University, Salem-11. Tamil Nadu. E-Mail: sankar_4577@yahoo.com; sankarzee.c@gmail.com; Mobile No. (0)9566997631 Abstract FDI is a tool for economic growth through its strengthening of domestic capital, productivity and employment. FDI also plays a vital role in the up gradation of technology, skills and managerial capabilities in various sectors of the economy. The present paper attempts to analyze significance of the FDI Inflows in Indian retail sector since 1991 and relating the growth of retail sector FDI in generation of employment in terms of skilled and unskilled. Supporters of FDI in retail trade talk of how ultimately the consumer is benefited by both price reductions and improved selection, brought about by the technology and know-how of foreign players in the market. This in turn can lead to greater output and domestic consumption. Introduction The retail industry in India is of late often being hailed as one of the sunrise sectors in the economy. AT Kearney, the well-known international management consultancy, recently identified India as the ‘second most attractive retail destination’ globally from among thirty emergent markets. It has made India the cause of a good deal of excitement and the cynosure of many foreign eyes. With...
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...Abstract HR can answer the needs of this new future workplace. But it will need a new focus on managing the whole lifecycle of employment, new recruiting and engagement ideas, the ability to provide training and development for employees who are not likely to see real salary increases for another decade, and better metrics that prove to the business the impact they are making in the coming years of this Post-Recession Era. Introduction As the U.S. economy begins to right itself from the financial crisis and associated recession, our thoughts turn to the possibility of new growth and new opportunities for business. The end of the recession may not be the ideal resolution to the struggles of the past few years. Compensating for losses has had a significant impact on organizational behavior. Aon Corporation released the 2011 Talent Survey, which revealed some rather unsettling results for the future of human resource management due in large part to the economic crisis (Eamley, 2011). Some of the topics to be discussed will be employee engagement and retention, recruiting and development and leadership in the coming years. Engaging and Retaining Based upon the Talent Survey’s results, there seems to be a problem in the highly important area of engagement, as a mere 14 percent of the 1,328 employers polled nationwide believe that their leaders are actually effective at meeting profitability targets, 17 percent believe they are adequate in...
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...knowledge to make decisions. Example is demand theory. If people get low income, they tend to spend less than when they are getting higher income. As the managers are forecasting the demand for their products and services, anticipation of how consumers’ incomes will grow should be learned. To make decisions, business owner should also know about the current interest rates for loans if they are about to borrow money from the financial institution. They should also be aware about where they stand in the business cycle. Cost of labour is another important reason to study of macroeconomic in order to make better decision. For example, during tight labour supply, the price or salary of the labour will shooting up and this will eventually increase the price of the product in the market. Business owner might consider other option to solve these issues. Examples are outsourcing the production or services to cheaper country or to other specialized company so that they don’t have to hire expertise with high salary and keep maintaining them in the organization. Their...
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