Stake Of Labor And WTO Essays - World Trade Organization

Stake Of Labor And WTO Stake of Labor in the WTO Seven years of exchange dealings finally conceived an offspring to the World Trade Organization (WTO) in 1995, the U.S. work development was one of its driving cynics. A world exchange association, work supporters contended, would just quicken the fast race to free enterprise by destroying national guidelines. It would overpower endeavors by countries to guard expectations for everyday comforts what's more, the capacity of associations to battle for wages and wellbeing and security laws?and it would make it harder for countries to shield the privileges of laborers to join associations. Work campaigned hard against the WTO. In any case, presently, unexpectedly, the WTO could turn into a basic setting for propelling laborers' privileges around the world. For the WTO has the capacity to audit countries' household laws that make out of line exchange favorable circumstances counting, conceivably, work laws. The WTO could characterize reasonable exchange to incorporate work gauges. Such linkage would be a notable change on the planet's exchanging system, and work's stake in it. Linking work rights with exchange strategy has been around since not long after World War II when endeavors to make a universal exchanging system started vigorously. Notwithstanding, the WTO speaks to the main open door since 1948 to give the issue genuine consideration. Defenders of connecting work rights to exchange rules expand on the ordinary case for nothing exchange. For worldwide business to be free, showcases inside nations must not be fixed to energize sends out and debilitate imports. This is the essential rule of facilitated commerce and it is the focal statute of the WTO. Work markets are an uncommon case, since they are not traditional free markets. The lowest pay permitted by law laws and certifications of free aggregate haggling change the wages that showcase powers may some way or another produce. Be that as it may, the financial standard in cutting edge mechanical nations has since quite a while ago acknowledged that some guideline of wages and working conditions can improve in general financial productivity, just as reasonableness. In the event that bosses are constrained to treat laborers appropriately, they will convey them more gainfully. By that rationale, certain work rehearses normal in undemocratic nations, for example, youngster work, jail work, and disavowal of the option to frame associations, can be viewed as uncalled for exchange practices?and, conceivably, infringement of WTO rules that exchange should reflect worthy principles of market rivalry. Since compensation influence all exchanged items and administrations, work issues are vital to a definitive believability of the WTO as the judge of a reliable principle based worldwide exchanging framework. To the degree that wages are misleadingly held down on the grounds that work rights are revoked, a roundabout appropriation is removed from these laborers by their administrations' approaches, which seemingly disregard the WTO's unhindered commerce theory. During the WTO's second-year survey in late 1996 in Singapore, the United States effectively looked to interface work rights with exchange. Be that as it may, this exertion was obstructed by an alliance of Third World countries (who saw the activity as a type of protectionism) and the European Union (which was at that point ruled by traditionalist governments). In any case, the endeavor put the U.S. government in favor of exchange work linkage and constrained WTO individuals to formally think about the issue of linkage just because. Indeed, even Sir Leon Brittain, the Thatcherite VP of the EU who effectively contradicted exchange work linkage, was constrained by sister EU governments to confirm that work measures and other clearly local policy centered issues are currently the authentic worry of the WTO since they are worries of our constituents. The United States, as indicated by the U.S. Exchange Delegate's office in Geneva, will keep pushing for linkage. THE Birthplaces OF THE WTO Established in the wake of World War II, the WTO's ancestor, the General Agreement on Tariffs and Trade (GATT) shaped the third mainstay of the Bretton Woods framework, which included financial advancement advances through the World Bank and financial adjustment by means of the International Monetary Store. While the IMF and the World Bank date to the first Bretton Woods gathering of June 1944, exchange rules were first tended to in a 1946 gathering that set duty levels and built up a draft sanction for an International Trade Association (ITO) that was introduced at the 1948 UN Conference on Trade and Work in Havana. John Maynard Keynes, the first planner of the Bretton Woods framework, had wanted to create overall exchanging decides that would keep away from the dangerous protectionism predominant during the Great Depression, while safeguarding a promise to full business. The ITO sanction contained areas on work, product understandings, strategic approaches, worldwide venture, and administrations. In any case, the ITO was to be stillborn. Also, the unmistakable quality of work in the development of the 1948 ITO would be lost

Human Trafficking Legal Provisions and Government Responses

Human Trafficking Legal Provisions and Government Responses 1. The dealing of ladies, medications and precious stones include tremendous quantities of people and gatherings, there is a higher level of transnationalism and exchange designs are mind boggling. There are a large number of human dealers working autonomously inside moderately various leveled gatherings and endeavor a huge number of ladies and young ladies frequently in cross outskirt activities that disregard nations sway. Under universal law governments are committed to shield their residents from being dealt through strategies and projects that focus on counteraction and security of casualties. 2. An audit of the laws and arrangements of different nations gives an impression of the developing mindfulness and acknowledgment of the issues identifying with dealing over the world. The majority of these nations have put forth attempts to correct their current laws or to present new enactment in consonance with worldwide instruments. 3. Most European nations and US have received enactment against human dealing. Similar holds useful for South and South East Asian nations including India and her neighbors. Infact in March 1998 in acknowledgment of International Womens Day President Clinton gave an Executive Memorandum on Steps to Combat Trafficking that vows to battle dealing in ladies and young ladies with an emphasis on regions of prostitution, casualty help and assurance, and requirement. The job that different government organizations will play is likewise plot. Global Framework of Laws A diagram of select conventions and shows that control dealing at the universal level is recorded at Appendix E-International Framework of Laws Related to Trafficking. Territorial Legal Instruments The system of law in nations of South Asia is recorded at Appendix F-Legal Framework in South Asian Countries. Indiaâ Initiatives to battle dealing 4. Counteraction and com bating Trafficking of Human Beings has gotten the most noteworthy need in India and as the issue is multi dimensional, we have received a multi-pronged procedure to address the issue. Indias way to deal with fighting dealing is all encompassing, participative and comprehensive and isn't simply confined to essential or direct intercession against dealing however tries to annihilate the hazard through enabling the potential casualties. 4.1 Constitutional and Legal Framework to address Trafficking 4.1.1 India has a genuinely wide system of laws ordered by the Parliament just as a portion of the State assemblies notwithstanding the different sacred arrangements. These are recorded in Appendix G à ¢Ã¢â€š ¬Ã¢â‚¬Å"Legal Framework to Address Trafficking in India. 4.1.2 The chief enactment to handle dealing for business sexual abuse is the Immoral Traffic (Prevention) Act, 1956. The Act is being revised so as to additionally fortify the different arrangements. Striking highlights of the changes to ITPA Re-defi ne the age of the youngster from 16 to 18 years. Erasure of areas, which re-deceive the people in question. In-Camera procedures in Courts to defend security of casualties. Upgraded discipline for traffi ckers, massage parlor managers, pimps and so forth. Discipline for people who visit massage parlors for business sexual abuse. Defi nition of traffi cking received from the UN Protocol. Setting-up of Center and State nodal experts in the States for forestalling and fighting offense of traffi cking through coordination, examination, salvage, recovery, legal help, research and preparing. 4.2 International Commitments 4.2.1 India is a signatory to various global instruments, for example, the Convention on the Rights of the Child (CRC) and its Optional Protocols; Convention on Elimination of all Forms of Discrimination against Women (CEDAW); UN Convention against Transnational Organized Crime with its UN Protocol to Prevent, Suppress and Punish Trafficking in Persons, particularly Women and Children enhancing above Convention and Millennium Development Goals. 4.2.2 It is likewise part of major SAARC activities for South Asia which includeà ¢Ã¢â€š ¬Ã¢â‚¬ SAARC Convention on Preventing and Combating Trafficking in Women and Children for Prostitution; SAARC Convention on Regional courses of action for Promotion of Child Welfare in South Asia; SAARC Charter where dealing issues are to be tended to at territorial level. 4.3 Institutional Mechanisms India has a government set up where law implementation and open request are basically State subjects. In any case, the Central Government also shares duty with the States for handling sorted out wrongdoing, for example, business sexual misuse rests with the Ministry of Women and Child Development, while the Ministry of Labor manages all issues identified with work. The Ministry of Home Affairs is answerable for guaranteeing the requirement of the different enactments identified with the crime of dealing A case of Center State joint effort is the significant level Central Advisory Committee to Combat Trafficking for Commercial Sexual Exploitation to consider on different viewpoints on dealing and as of late has defined Blue Print for Action in the territory of Inter-State Rescue Protocol, Prevention, Rehabilitation, Health, Legislation and Management Information System. The Ministry of Social Justice has taken activities to set up an easy to understand framework for quick and successful reclamation of missing, stole/seized and runaway kids to their families. As there is an immediate linkage between missing people and dealing. Subsequently, a deliberate exertion to address the issue of missing ladies and youngsters will be of tremendous use and help in forestalling and fighting dealing. The Government of India has additionally set-up self-governing associations, for example, National Human Rights Commission, National Commission for Women and National Commission for Protection of Child Rights, which look to secure the privileges of ladies and youngsters. Approaches and Protocols National Plan of Action to Prevent and Combat Human Trafficking with unique spotlight on Children and Women was planned in 1998, with the goal of mainstreaming and re-incorporating ladies and kid survivors of business sexual misuse in to the network. The National Plan of Action for Children, 2005 concedes to guarantee that all privileges of all kids up to the age of 18 years are secured. National Policy for Empowerment of Women, 2001 expects to realize the headway, improvement and strengthening of ladies. Convention for Pre-salvage, Rescue and Post-salvage Operations of Child Victims of Trafficking with the end goal of Commercial Sexual Exploitation gives rules to authorization offices and NGOs associated with the salvage of casualties from their place of abuse, clinical and lawful methods to be followed and rehabilitative measures to be given to the people in question. Convention on Prevention, Rescue, Repatriation and Rehabilitation of Trafficked and Migrant Child Labor intends to guarantee smooth salvage, repatriation and recovery of dealt and vagrant youngster work. A blue print of activity in interalia the accompanying regions has likewise been created: Convention on Inter-State Rescue and Post-salvage Activities Relating to Trafficked Persons giving rules to the State Governments on the between state salvage tasks, the modalities in question, safeguards to be attempted and duty of different partners in offering types of assistance to the saved casualty. Anticipation of Trafficking of Women and Children à ¢Ã¢â€š ¬Ã¢â‚¬Å" It accommodates different strides to be attempted to forestall dealing of ladies and youngsters for business sexual misuse and incorporates development of juvenile gatherings and network carefulness gatherings, against dealing local systems, fitting intercessions that ought to be taken up in house of ill-repute regions to forestall second-age prostitution, exceptional measures focusing on those networks generally associated with business sex work and restoration of ladies who have gotten old to carry on the calling and are needing care and insurance. Restoration of Victims of Traffi cking à ¢Ã¢â€š ¬Ã¢â‚¬Å" It accommodates activity directs related toward territories of recovery, for example, care and bolster programs, network based restoration, care of casualties, instruction and expertise working of casualties and their definitive recovery in the general public. Human Trafficking Management Information System (HTMIS) gives an arrangement to requirement offices to gather information on dealt casualties and dealers. Projects and Schemes The Ministry of Women and Child Development runs Shelter homes (Swadhar and Short Stay Homes) for ladies in troublesome conditions. These additionally take into account saved dealt casualties and accommodates cover, food, apparel for ladies and kids, advising, clinical, clinical, lawful and other help, preparing and financial recovery and helpline offices. A moderately ongoing sheme known as Ujjawala (Radiance of light) is a Comprehensive Scheme for Prevention of Trafficking and Rescue, Rehabilitation and Re-mix of Victims of Trafficking and Commercial Sexual Exploitation. Dhanalakshmi, is a contingent money move plot for young lady kid with protection spread connected to different achievements in a young ladies life. It is normal that the plan would guarantee that the young lady youngster isn't just conceived yet in addition that she is enlisted and held in school which would diminish her weakness to traffi cking, kid work, kid marriage and so forth. The Integrated Child Protection Scheme (ICPS) conspire plans to accommodate kids in struggle with law and youngsters needing care and insurance improved institutional consideration, quality non-institutional, selection and elective consideration, guiding and family backing, preparing and limit building, CHILDLINE administrations ,kid following framework and site for missing kids. While projects and plans to restore and reinteg

New Student Photo Entry #18 COLUMBIA UNIVERSITY - SIPA Admissions Blog

New Student Photo Entry #18 COLUMBIA UNIVERSITY - SIPA Admissions Blog The first three photos were submitted by incoming MPA student, Joseph Musso. Young dancers perform in an entertainment club in Lima, Peru. A Traditional Spice Market in Dubai. The view atop a camel in the desert outside Dubai, UAE. ______________________________________ The following three pictures were sent in by incoming MIA student, Major Lance Sells. My friends and I watch an evening storm hit Gaborone, BW on New Years day from a campsite deep in the Khutse Nature Reserve in the Kalahari desert. 1 Jan 2009 Climbing Big Mama the second largest sand dune in the world located in South central Namibia. Mar 2009. The largest sand dune, Big Papa, is next to Big mama. All traces of human activity is erased by the wind each night. Touring the rock cathedrals in Lalibela, Ethiopia. Each of the dozen plus of rock cathedrals in Ethiopia were carved in their entirety from single pieces of granite rock, shortly after the regions conversion to Christianity. Apr 2009. In the past 12 months I have been able to explore Botswana, South Africa, Lesotho, Swaziland, Namibia, Mozambique, Angola, DR Congo, R Congo, Rawanda, Cameroon, Ethiopia, and Senegal.I am looking forward to joining the SIPA MIA program.

Gi Jane Essay - 1107 Words

The film G.I. Jane takes place in the 1990’s and shows discrimination of a women in the United States Navy. Lieutenant Jordan O’ Neal played by Demi Moore, is a naval intelligence officer who has ambitions of moving beyond her military desk job, to become a member of the Navy Seal. Thanks to the political maneuvering of a female senator, O’ Neal becomes the first female candidate for the Navy Seals. The Seal’s are the military’s elite Special Forces team. O’ Neal becomes the guinea pig of senator Lillian DeHaven in this film. DeHaven bullies the Navy into taking O’Neal as a Seal recruit in order to become the first female member of the Navy Seal. O’Neal is put through a series of tests and her main obstacle is Master Chief John Urayle, a†¦show more content†¦Now there is a move under way for full female equality in the fighting forces. One quarter of U.S. Navy jobs are still off limits to women still today. On April 28, 1993 Secretary of Defense Les Aspin announced a policy to open up nurse specialists and assignments to women in the armed forces. The policy means that women will no longer be excluded from military specialists simpily because the jobs are dangerous. It opened up combat aircraft to women. It instructed the Navy to open additional ships to women. In November Congress signed legislation repealing the law barring women from serving on combat ships. nbsp;nbsp;nbsp;nbsp;nbsp;In the film Senator Dehaven was pushing the military to accept females in all possibiile military positions. In contemporary society, women are already now accepted into combat situations and previously all-male military academies. Of the nearly 260,000 combat and combat support positions opened to women in 1994 more than half were in the Navy. Still, the Navy has the highest percentage of non-restricted jobs after the Airforce, 91% and 99% respectively. In contrast one third of Army and Marine corps jobs are off-limits because women are barred from the ground infantry armor and artillery units (USA Today, 1998) . nbsp;nbsp;nbsp;nbsp;nbsp;In the closing scenes, the recruits final training exercise is diverted to aid inShow MoreRelatedGi Jane Essay1135 Words   |  5 PagesThe film G.I. Jane takes place in the 1990s and shows discrimination of a women in the United States Navy. Lieutenant Jordan O Neal played by Demi Moore, is a naval intelligence officer who has ambitions of moving beyond her military desk job, to become a member of the Navy Seal. Thanks to the political maneuvering of a female senator, O Neal becomes the first female candidate for the Navy Seals. The Seals are the militarys elite Special Forces team. O Neal becomes the guinea pig of senatorRead More Personal Narrative - I Am GI Jane Essay1823 Words   |  8 PagesI Am GI Jane â€Å"Go! Go! Go!† yelled Drill Sergeant Saunders. 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Essay on A Critical Review of Francis Schaeffer - 2826 Words

Topic Paragraph Francis Schaeffer summarized his the entire book when he wrote, To understand where we are in todays world–in our intellectual ideas and in our cultural and political lives–we must trace three lines in history, namely, the philosophic, the scientific, and the religious (Schaeffer, 2005, p.20). Schaeffer is mainly stating that society is getting away from its Christians roots. He walks through instances in history where society has moved away from the principle teachings of the Bible. He believes that the problems in society are because individuals are ignoring the Christian principles that this world was built upon. He warns that this shift can have a catastrophic effect on how the world will look in the future.†¦show more content†¦This is one way that the path towards destruction can be altered. The Christian believers have an obligation to help society realize its Christian roots and that can be done through their diligence in spreading the word of God . The other intended audience for Schaeffers book is the non-believers. Schaeffer hints to the fact that societys decline is a result of these non-believers. He points out how these people have coerced society to distance itself from the teachings of the Bible. By Schaeffer pointing out the possible end result of their actions, he is hoping that this book serves as a wake-up call. He is urging non-believers to change their ways before it is too late. Thesis and Bias The overall thesis to Schaeffers book can be found in the first chapter. To understand where we are in todays world–in our intellectual ideas and in our cultural and political lives–we must trace three lines in history, namely, the philosophic, the scientific, and the religious (Schaeffer, 2005, p.20). The bias in this statement is the idea that the only worthwhile world view is a Christian world view. Schaeffer insists that in order to remediate any problems in society there should be a re-focus on Christian principles. Schaeffer is trying to make a very specific point very clear in this book. He wants people to know that society has moved away from the teachings of the Bible. He gives specific examples of howShow MoreRelatedEugenics : Past Shames, Future Hopes2185 Words   |  9 Pages Joni Rose Antelope Valley College â€Æ' Eugenics: Past Shames, Future Hopes MY PICK After perusing the suggested articles, I decided on this article for my journal review because of the many facets of its colorful history in addition to its fascinating, and vastly growing, advancements in the area of eugenics. The imminent debates resulting from the conflicting moral and ethical implications arising from the inceptionRead More A Theological Perspective of the Clash of Civilizations Essay7154 Words   |  29 PagesEuphoria, and Harmony Model One widely held perspective was that the end of the Cold War meant the end of significant conflict in global politics and the advent of one relatively harmonious world. Known as the â€Å"end of history† thesis, proponent Francis Fukuyama argued in Hegelian-like terms that, â€Å"We may be witnessing the end of history as such: that is, the end point of mankind’s ideological evolution and the universalization of Western liberal democracy as the final form of human 6 HuntingtonRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesBoys, Inc.– Milwaukee Division: Making Information Systems Investments CASE STUDY IV-2 FastTrack IT Integration for the Sallie Mae Merger CASE STUDY IV-3 IT Infrastructure Outsourcing at Schaeffer (A): The Outsourcing Decision CASE STUDY IV-4 IT Infrastructure Outsourcing at Schaeffer (B): Managing the Contract CASE STUDY IV-5 Systems Support for a New Baxter Manufacturing Company Plant in Mexico CASE STUDY IV-6 The Challenges of Local System Design for Multinationals:

ALTERNATIVE LABOUR MARKET THEORIES AND PAY STRATEGIES AND PRACTICES Free Essays

string(216) " demand and supply and is looked upon as any other commodity or factor of production, thereby reducing all social relationships to exchange relations, a feature of the capitalist production process \(Kessler 2007\)\." Introduction The labour market includes all markets in which people sell their mental and physical services in employment from which they earn their living (Kersley 2006). It is a part of the economy in which various kinds of industrial and commercial services intermediated by people are brought, sold and priced. Employment, therefore, refers to participation in this labour market on its supply and/or demand side, the buying and selling of labour as a distinct factor among the various factors of production such as capital (Gintis 1987). We will write a custom essay sample on ALTERNATIVE LABOUR MARKET THEORIES AND PAY STRATEGIES AND PRACTICES or any similar topic only for you Order Now The individuals selling their services in the labour market are referred to as workers or labourers and the pay that they receive in return for such contribution and effort is referred to as wages which can either be in the form of a weekly wage, a monthly salary, bonuses and other forms of remuneration (CIPD 2008). Payment or reward is a core element of the employment relationship and is defined, in economics, as the portion of the national product that represents the aggregate paid for individuals contributing labour and services which is distinguished from the portion retained by management or reinvested in capital (CIPD 2008). Labour wage is a significant source of income for a major segment of the population, a primary contributor to their sustenance often referred to as a source of living. It also features prominently in the microeconomics of governments through its effect on the national policies such as taxation and supply and demand for goods and services with the resultant government revenues and resources allocated to a variety of alternative uses (IDS 2006). There have been several theories and models that have attempted to explain the various phenomena surrounding the labour market among other markets. This paper delves into the Neoclassical theory of pay, its faults, limitations and criticisms and the alternative labour theories challenging it, as well as strategies and practices for pay determination at the level of the state and the firm. Neo-classical theory of pay Analysis of capitalism through the Neoclassical theory basically entails the examination of market relations of determinate actors, featuring technology and psychology, viewing the organization within the capitalist enterprise as the solution to the main challenge of finding techniques of production with the least cost, considering an array of the prices of various factors(Gintis 1987). This is in line with capitalism’s reduction of essential economic relations between freely acting, mutually benefiting firms and households engaging in independent exchanges. Neoclassical theories on labour economics basically consist of the theory of demand based on marginal productivity, the endeavour of employers to maximize profit and theory of supply based on maximization of utility by workers (Glen 1976). This Neoclassical theory encompasses and is fundamentally guided by assumptions including the view that individuals through their rationalization of preferences among various outcomes maximize utility while firms endeavour to maximize their profits; and that people’s actions are based on their consideration of relevant information, all occurring in a circular flow in a closed market (Gintis 1987). Workers in this theory balance gains from the offer of the marginal unit of their contribution (their wage), with their loss of leisure, a disutility, while firms in their hiring of employees balance the resultant cost with the value output of the additional employee (Kessler 2007). This theory makes the assumption that each worker has ordered preferences over the jobs in the labour market/economy with a capacity of performing at higher or lower productivity levels in each of them, treating labour just as a factor of production (a commodity) and blurring the distinction between labour, the entity that gets into the production process, the concrete, active process in the worker’s contribution expressed by labour power and its capacity for capitalist exploitation; and the labour power, the commodity with attributes including the capacity for the performance of some productive activity of varying types and intensities. This commodity is exchanged in the market, valued and tagged with a price (wage) (Gintis 1987). This theory is generally useful in its simplification of the consideration of the labour market, and consequently payment, in view of the total capitalist enterprise and the many factors of production that are employed (Glen 1976). It has its strengths in traditional pay systems and payment that have been examined in consideration of the objectives of recruitment, retention and employee motivation with the assumption that equilibrium pay is attained through the interaction of market forces that are also useful in determining pay. This is of significant use in removing the complexities of attempts to understand social relations in the workplace and its requirement for a focus on psychology (IDS 2006). Its perspective places values on the relationships between factors or objects and the persons seeking or obtaining them, between costs of production and the elements subject to the forces of supply and demand (Gintis 1987). In a capital market, each factor’s demand and supply is derived to those of the final output analogously to determine equilibrium in income and its distribution. This basic Neoclassical model of the labour market is based on assumptions which include perfect competition, maximization of profit, and homogeneity within the workforce, suggesting that wages should be equal. Its vision involves households or firms, described as economic agents, optimizing subject to some constraints or scarcity, with the tensions and decision problems being worked out in the market (Kessler 2007). This theory is, however, faulted for being rigid and highly mechanistic, with strict assumptions, and its treatment of labour as a commodity, blurring the distinction between the active contribution of workers (labour) and labour power exchanged on the market for pay as a factor of production. Labour cannot be categorized under technological data as it depends on the worker’s biology, consciousness and skill, conditions of the labour market, solidarity with others, and the social organization within the process of work, as it is in essence a social relationship (Glen 1976). In this theory, the worker is valued as capital whose value rises with demand and supply and is looked upon as any other commodity or factor of production, thereby reducing all social relationships to exchange relations, a feature of the capitalist production process (Kessler 2007). You read "ALTERNATIVE LABOUR MARKET THEORIES AND PAY STRATEGIES AND PRACTICES" in category "Essay examples" It is also faulted for its handling of the labour exchange with its basis on a crucial assumption that the exchange of labour for a wage (the labour exchange) can be treated as an exchange of commodities, a derivation from mathematical formulations of the general equilibrium theory (Gintis 1987). This is, however, incorrect as the capitalist firm’s hallmark is the reliance on authoritative allocation of activity rather than as a result of market forces. This is evident when internal movements within departments are not due to relative changes in prices as would be implied by the Neoclassical theory, but is done through the authority of management giving orders (Traxler 2003). The tangible substance of labour entering the production process is distinct conceptually and must be analyzed in different terms. Labour is not exchanged for the wage according to the principles of the market, as the capitalist and worker power relations are the result of the economic organization which cannot be assumed as given before an economic analysis is conducted (Traxler 2003). The limitations of the Neoclassical theory of pay include its lack of capacity in explaining the existence of pay differentials as wage scales generally deviate from its analysis of demand and supply (Glen 1976). Wage scales and their manipulation are often instruments used in an enterprise’s labour exchange to ensure integrity, an internal labour market that develops along with the labour market as traditionally perceived but having a fundamental qualitative difference in the exchange, and is also an instrument through which the state controls and manages its microeconomic environment (CIPD 2008). Other limitations include its attempts to attribute discrepancies to market failures or events occurring outside the closed market system and interfering with its operation, as well as, its assertion claiming efficiency of capitalist production internal to the organization (Glen 1976). If profit is not deemed to entail efficiency, the wage may therefore be representative of the marginal contribution of the worker, without being representative of their productivity. Evidence bearing on the adequacy of its assertion regarding marginal productivity such as indices of skill and abilities, behaviour records, and supervisor ratings can hardly be precisely measured and are indirect. Therefore, individuals who have productivities differing widely will often be in the same positions covered by the same wage (Kersley 2006). Its major criticism is significantly premised on the pay equalization of demand and supply, the assumption that forces similar to those of other markets are also in play in the labour market and that therefore rates of pay should swing similar to these forces (Glen 1976). This is, however, a false premise as there exists differentials in pay within the labour market not related to demand and supply, differentials that result from variations in quality of human capital; the presence of barriers to movements within different sectors due to high costs (including time) of training thereby resulting in non-competing groups within the labour market; the creation of partially closed markets through balkanization and unionization; and a myriad of social factors that often influence pay (IDS 2006). Alternative labour theories have thus been developed in attempts to explain the existence of pay differentials within the labour market and cover for the shortcomings of the Neoclassical theory of pay. Alternative labour market theories Human capital theory Human capital theory relaxes the assumption of homogeneity in the basic Neoclassical model by addressing the heterogeneous nature of the labour market. It seeks to explain that wage differentials are a consequence of differences in human capital stocks, the stock of knowledge, skills, education, training and aptitudes that individuals or groups possess (Forth 2000). In the basic Neoclassical model, wages are paid basing on the marginal product of labour while the Human Capital theory links wage differentials to productivity differentials with the former a by-product of the latter (Gintis 1987). Disparities in Human capital transfers into variable productivity and therefore different wages earned. For instance, workers with more education or unique learned skills, on average, earn more wages and this is explained by the human capital analysis as resulting from the increase in productivity among those with enhanced training. It follows that individuals who invest time (opportunity cost that can be evaluated in monetary terms) and money to gain more skill enhance both the human capital stock and ultimately their productivity (Forth 2000). This consequently results in the wage differentials between them and those within the workforce who made no such investment. Non competing groups These consist of several defined classes based mainly on gaps in skills or gaps in locations creating barriers to free movement in the labour market. There is therefore not a single labour market but a number of separate labour markets divided mainly by gaps in skills. Workers in one of these defined markets do not compete with workers in the other markets due to the presence of a skills gap, and the labour market is therefore not as homogenous as assumed by the Neoclassical theory (Forth 2000). Sportspeople like footballers, for instance, with their special talent, just as other unique jobs that require unique talents as art and music form non competing groups with their own closed labour markets (not shared with everyone else), that despite having enhanced pay levels that would under the Neoclassical theory be a cause for a shift due to forces of demand and supply, however feature little movement between them and the other labour markets (Kersley 2006). The footballer is therefore not in any competition with a doctor as they are members of non competing groups that have little chance of transfers between their markets, hindered by skills gaps and rare abilities. Balkanization Balkanization results when workers organize themselves into unions seeking the establishment of sovereignty over job territory, a form of private government of a section of the labour market (Kersley 2006). In this territory, the demands of members of these unions are met before petitions of aliens are considered. This effectively brings about change in market considerations from individual preferences and involvement to a more plural and partially closed society (Traxler 2003). Balkanization creates boundaries within the labour market, which are specific and challenging to cross, with the association or union defining points of competition, the groups that may compete, and the grounds for such competition (CIPD 2008). Examples of balkanized groups include doctors and accountants who have strong and wide-reaching associations which take up the mandate of overseeing and controlling what happens in their specific labour markets under the boundaries created. The labour market unlike that described in the Neoclassical theory is not homogenous under such balkanization with the characteristic barriers to free movement and individual preferences (Gintis 1987). Social factors Differentials in wage could also result from direct influence of a number of social factors which may include gender, geographic locations, demographics, race, among other factors. Of significance among the social factors is the gender pay factor which results in the presence of a pay gap between the different genders. The weekly earnings of women working full-time rose 4.2% in 2006 while those of men rose by 3.5%. This was despite the fact that women’s earnings fell significantly below those of their male counterparts (CIPD 2008). The gender pay gap measured by the Annual Survey of Hours and Earnings (ASHE), published by the Office for National Statistics (ONS) through median hourly earnings excluding overtime (government’s preference) though narrowing from 12.1% in 2009 (ASHE 2009) to 10.2% in 2010 (ASHE 2010), a result not from a rise in women’s wages but from a fall in the growth of men’s pay at 0.3% in 2010 relative to 2.6% for women, still retains the variation. The private sector is shown to have a wider gender pay gap at 19.8% nearly double that in the public sector at 10% (ASHE 2010). Alternatively, based on average hourly earnings (putting more weight at the pay extremes at the top and at the bottom) ASHE found that the gender pay gap was down almost a percentage point to 15.5% in 2010 from 16.4% in 2009 (ASHE 2010). The Equal Opportunities Commission (EOC) argues for these extreme values are vital to the explanation of the pay gap as the highest earning jobs are still a preserve and are heavily skewed towards the male workers, and vice versa (Forth 2000). This gender pay gap could structurally be as a result of differences between men and women in the jobs they engage, occupational segregation within the workforce and the general undervaluation of the jobs women dominate; the length experience of work as well as that of part-time employment; their qualifications and skills; issues regarding travel to work among other unobserved factors including discrimination at work (Kersley 2006). Role of the state The state takes up an oversight role in pay determination as it seeks to manage its economic environment. The labour market affects the performance of the economic system substantially with its effect on opportunities for the workers and its contribution to the national product, as well as, focusing on its expenditure limits and inflation targets (Traxler 2003). There are several mechanisms through which the state engages in pay determination and influences pay levels. These include direct approaches such as policy formulation to define pay levels, the use of collective bargaining mechanisms and indirect mechanisms such as the emulation of private sector strategies and the development of sector schemes covering labour markets. Direct mechanisms include legislation such as the equal pay act seeking consistency, equality and fairness in pay, and ensuring that all receive the same pay for the same amount of labour and across gender. There are also several legislations such as those covering remuneration recommendations for school teachers covered by the 1991 Act that have to be approved by parliament (IDS 2006). These mechanisms also entail the involvement of the pay labour board in local determination of grading structures and rates, pay review bodies (PRB systems) that determine pay for public servants acting midway between collective bargaining and government imposition, with features common with the statutory wage boards in which various parties are engaged in decision of outcomes (Forth 2000). Collective bargaining entails either negotiations on industry-wide agreements on minimum rates that would apply to an organization or bargaining on the enterprise level over pay levels among other terms. This often involves the employment of unions and associations to engage in the negotiations and often contribute to the setup of minimum wage levels (Forth 2000). The indirect mechanisms entail the use of job evaluation and analytical schemes. These seek to enhance equity in pay and systems of grading through the determination of the relative importance of jobs, thus informing decisions about banding and remuneration. It is done through systematic processes that bring a degree of objectivity to the making of such decisions (CIPD 2008). These schemes include proprietary schemes used by multiple employers and supplied by consultancies or some overarching schemes that cover an entire part of the public sector meeting the needs of their particular sectors, home grown schemes of individual organizations and hybrid schemes that are in between (Kersley 2006). An example of the overarching schemes is the National Health Sector scheme (NHS) which can also be used, for a fee, by private organizations, which covering a wide range of jobs that are contained within the health sector from the obvious medical to management and administration and jobs in between with pay system strategies (Traxler 2003). Firm level Within the firm, pay determination and strategies are influenced by external influences such as the involvement of the state in setting minimum wage, and comparator data from industry surveys of competitive rates, as well as, internal considerations such as performance and productivity of individual employees. These influence company profitability and therefore available resources (its ability to pay), and the focus, therefore, is on effective organizational structures necessary in a capitalist system to enhance efficiency and productivity (Kersley 2006). A grading or pay structure identifies the expectations from the effort-bargain for different levels and provides a basis for the differentials (Kersley 2006). The hierarchical structure in capitalist enterprises with a matching pay structure is indicative of pay differentials within the organization and industry, reinforcing the structure and desired goals within the organization as it features discretionary and variable pay systems that can flexibly adjusted to suit patterns (Forth 2000). The worth of each job or employee is also subject to external influences such as relative market value and the social value of particular skills and duties which are variable with time (IDS 2006). The pay system within the organization has continually changed in composition towards performance-orientation intended to enhance productivity and profits which has led to the development and employment of performance-related pay based on certain performance criteria including individual performance or profitability within the organization, in addition to, basic pay (Kessler 2007) Conclusion The Neoclassical theory which though successful in explaining various phenomena surrounding the labour exchange, and simplifying the consideration of the labour exchange among the several factors of production in the capitalist enterprise, has shortcomings and limitations in its rigidity and its handling of labour as a commodity, a factor of production, as well as focusing on market forces of supply and demand thereby deeming labour to also be affected. However, there clearly exist variations to its assumptions that result in pay differentials which are then explained by alternative theories including the Human Capital theory which explains variations in pay through differences in worker’s skills sets and abilities, balkanization and non competing groups which shatter the homogeneity assumption, and the presence of a variety of social factors. The state and the firm have also through pay strategies and practices reinforced such differentials through various schemes, and means available to them and that are desirous for their particular goals which include economic management for the state and profitability for the firm. References Annual Survey of Hours and Earnings (ASHE), 2009. Office for National Statistics. Viewed from www.statistics.gov.uk on 12th May 2012. Annual Survey of Hours and Earnings (ASHE), 2010. Office for National Statistics. Viewed from www.statistics.gov.uk on 12th May 2012. Brown, W., P., Marginson, and J. Walsh., 2003. â€Å"The Management of Pay as the Influence of Collective Bargaining Diminishes.† In: P., Edwards (ed.) Industrial relations. Theory and Practice, 2nd ed., Oxford, Blackwell. CIPD, 2008. Reward Management. Survey Report, London, Chartered Institute of Personnel Development. Forth, J., and N., Millward, 2000a. The Determinants of Pay Levels and Fringe Benefit Provision in Britain. Discussion paper N0. 171, London, National Institute of Economic and Social Research. Gintis, Herbert, 1987. â€Å"The Nature of Labour Exchange and the Theory of Capitalist Production.† In: Albelda, R., C., Gunn and W., Waller (eds.), Alternatives to economic orthodoxy: a reader in political economy, pp. 68-88, Armonk, NY, Sharpe Glen, C., 1976. â€Å"The Challenge of Segmented Labor Market Theories to Orthodox Theory: A Survey.† In: Journal of Economic Literature. Vol. 14, No. 4, pp. 1215-1257. Wisconsin, USA, American Economic Association IDS, 2006. Developments in occupational pay differentiation, research report for the Office for Manpower economics by Incomes Data Services, October. Kersley, B. et al., 2006. â€Å"The Determination of Pay and Other Terms and Conditions.† In: Inside the workplace: findings from the 2004 workplace employment relations survey. pp.178-206, 347-350, London, Routledge. Kessler, I., 2007. â€Å"Reward choices: strategy and equity.† In: J. Storey (ed.) Human Resource Management: A Critical text, 3rd ed., London, Thomson. Traxler, F., 2003. â€Å"Bargaining (De) centralization, macroeconomic performance and control over employment relationship.† In: British Journal of Industrial Relations, March, Vol. 41(1): 1-27 How to cite ALTERNATIVE LABOUR MARKET THEORIES AND PAY STRATEGIES AND PRACTICES, Essay examples

My Mother is a Hero Essay Example For Students

My Mother is a Hero Essay A hero is someone who is looked up to for doing something brave, noble, or heroic. It is someone who is admired for their honesty, bravery, and selflessness. There are many heroes in Greek mythology: Achilles, Hercules, and Ulysses was known for their strength and abilities to conquer. Fireman and Police Officers are often called Heroes for rescuing and saving people’s lives. Then there is all the super heroes of the world, Batman, Cat Woman, Captain America, Spiderman, and Wonder Woman to name a few. My personal hero isn’t anyone of super powers, but is someone genuinely true to herself and others, she is my Mama. As far back in time as remembered, Mama has always been a woman of courage, strength, and love. She has spent a countless number of hours taking care of others and neglecting her own needs. Mama was good at juggling her time between work, being a mom to two girls, a wife, and a friend, Her daily routine would consist of eight to ten hours of work, pick kids up from school, rush around to pay bills or grocery shop, check on her parents and in laws, home to get started on school, house or yard work, cook supper for a family of four plus the elderly lady who lived next door, clean the kitchen, get baths over with, spend a little bit of time with kids and husband, then it was off to bed for maybe 6 hours of sleep, just to get up the next morning and do it all over again. Never once did she complain about not having enough time for herself, instead she would just keep doing for others. Everything she done was done for her children, they were what mattered the most to her. She worked day in and day out providing a life for her family. On the weekends when she had free time, she spent it by cleaning and preparing for the week that was ahead, visiting with parents and grandparents, gardening and shopping. She always put her family first and herself last, a lot of times doing without things for herself to give to someone else. But it’s not just what she does and how she takes care of others that make her my hero. It is her undying, never ending love that she has for me. Through the many things she has said and done, she has taught me love, compassion, respect, honesty and independence. She is my strength and backbone. The greatest friend to ever have, always offering an encouraging word, a shoulder to cry on, or a helping hand. In 2003, she was diagnosed with Stage II Breast Cancer. One of the scariest times of her life, just hearing the word cancer was almost too much to bear. She went through two lumpectomy surgeries to remove the cancer, the surgeries were only one week apart. After a short period of time to recuperate she had to start radiation therapy that was five days a week for eight weeks. This happened at a time when factory work was vanishing from where she lived and she was laid off from her job of twenty plus years. Even through fighting the cancer and losing her job she remained strong, she beat the cancer, managed her household, and returned to school to further her education and become a CNA. Mama never once gave up hope during her treatments for cancer, and she never once let cancer get her down. She is such a strong and courageous woman. It is all of these qualities that she possesses that make her a hero, my hero. Cannot imagine what life would be like without her. A hero does not have to be a person who has saved a life, a heroic god from thousands of years ago, or an individual with super powers. It can be anybody in your life that you choose for it to be for any reasons. Most mothers are their children’s hero, because of some of these same traits. Mother should simply be another name for hero.

Stress and Strain Essay Example

Stress and Strain Essay Several mechanical properties of materials that are important in design are ascertained by applying tension, compression or shear load on the material.     Of the three, the most common mechanical stress-strain tests are performed in tension (Callister, 1997).   When performing tensile tests, the load and elongation are measured in relation to the cross-sectional area or original length of the material (before the elongation).   These geometric factors are normalized to the respective parameters of engineering stress and engineering strain. When a specimen has an original cross-sectional area Ao and original length lo is subjected to a uniaxial force F, engineering stress ÏÆ' and engineering strain ÃŽ µ (which are subsequently referred to as just stress and strain) are defined as:   and where l is the instantaneous length of the specimen (Schaffer, et. al, 1999).   For some materials, especially for most metals, subjected to low levels of tensile load, stress and strain are linearly related.   The linear relationship is referred to as Hooke’s law. As the stress is increased however, Hooke’s law ceases to be applicable as the linear relationship between stress and strain results to a curve.   At this instant plastic deformation occurs, which means that the deformation becomes permanent and nonrecoverable (Callister, 1997).   When stress is increased further, it will reach a maximum before resulting to fracture (the separation of the material into two or more pieces).   The maximum stress on the stress-strain curve is referred to as tensile strength and is the maximum stress that can be sustained by a material in tension.   When this stress is maintained, fracture will result. We will write a custom essay sample on Stress and Strain specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Stress and Strain specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Stress and Strain specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Compression tests are also done in almost the same manner as the tensile test except of course the force applied is compressive instead of tensile (Callister, 1997).   Compressive stress and strain are computed using the same formula presented above.   By convention, compressive force is taken to be negative which results to a negative stress.   In compression, since lo will be greater than l, the strain will likewise be negative.   And just like tensile strength, compressive strength is the maximum compressive stress applied to a material which when sustained results to the material being crushed.

Problem Solving Strategies

Problem Solving Strategies The type of problem solving strategy you use depends, in part, on the type of situation you are facing. For instance, finding the answer to a mathematical equation requires different skills than writing an essay on the differences between two philosophers views on religion. Problem solving is considered to be the process of finding solutions to difficult issues.  The type of  problem solving  strategy you use depends, in part, on the type of situation you are facing. For instance, finding the answer to a mathematical equation requires different skills than writing an essay on the differences between two philosophers views on religion. One has a fixed, set answer; the other is subject to interpretation. THE ART OF PROBLEM SOLVING Problem Solving Strategies Below are a few problem-solving strategies, how each works and when they are appropriate: ALGORITHMS. These types of problem-solving techniques rely on a set formula that allows you to arrive at one fixed answer. Good examples of algorithms are mathematical formula and computer programs. HEURISTIC. Heuristic problem-solving tactics are commonly referred to as rule of thumb strategies. These tactics are based on past experience and dont usually arrive at a single, fixed answer. Such problem-solving techniques are used when an exact answer isnt necessary when a range or an approximation is good enough. An example of using a heuristic problem-solving technique is estimating how long it will take you to drive home from campus. If, on previous trips, it has taken between 30 and 35 minutes, its likely that the next trip will take the same amount of time. However, unusually heavy traffic or construction could change this answer. CONSTRUCTIVE CONTROVERSY. This problem-solving technique, developed in the late 1970s, involves presenting your proposed solution to a group of other people, defending your idea, listening to their input and modifying your idea based on their feedback. This approach works well for team projects. INSIGHT. This technique is less structured, but often very effective. This is the let me sleep on it way of solving problems, such as when you awake with an answer to a problem or the answer comes to you in the shower or on the way to class. This technique relies on the subconscious using our past experiences to formulate an answer to a similar problem to those weve dealt with in the past. Since you have no way of knowing if youll arrive at an answer this way, this is obviously a poor technique to use for projects with a deadline. BRAINSTORMING. Brainstorming unleashes the talents of multiple team members on a single project. This technique involves throwing out tentative ideas, discussing each ideas merits and challenges and using the best of these possible solutions to solve the problem. DIVIDE AND CONQUER. Some projects, such as reading an entire text or writing a 5,000-word paper, can seem overwhelming. Dividing those huge projects into smaller, more manageable segments, such as reading a chapter a night or writing 500 words a week, often makes them easy to handle. RESEARCH. This problem-solving tactic makes use of other peoples past experience with similar problems to solve a current problem. As the name implies, this technique involves studying past performances and applying this acquired knowledge to the task at hand. Problem-solving strategies are a necessary part of college, the work environment, and everyday life. The better you become at the different types of strategies and at determining which type to use in which situation, the easier you will find not only your college studies but navigating the world at large. PROBLEM SOLVING SKILLS In case you are working on a problem solving assignment, and are having difficulties with it, would be happy to assist. Feel free to contact our writers and they will help you to work through the assignment. Our staff will assign writers with suitable backgrounds and adequate experience. This will result in a paper that is properly written and formatted, with thorough background research and a solid literature base. Feel free to contact us anytime  or place an order and we will gladly help you.

Capital Structure Pre and Post Global Financial Crisis Dissertation

Capital Structure Pre and Post Global Financial Crisis - Dissertation Example When debt financing is concerned, it includes borrowing from the banks, financial leasing, and bond issuing in the bond market. Equity financing mainly constitutes the retained earnings and issuing of additional shares in the stock market. Capital structure has its own importance in a company. There are primary two reasons supporting this fact. Firstly, debt and equity having differences in the costs, in the interest rates, and the required rates of return, there arises a need have an appropriate combination of debt and equity that can maximize the value of the firm by reducing the total cost of the company. This is achievable through the capital structure of the company (Broyles, 2003, pp.303-304). Secondly the knowledge and understanding of capital structure proves important since the borrowing of capital has an influence on the financial risk of the firm. The volatility of the net income or earnings per share of a company increases with the interest payments that represent additio nal fixed expenses for the company. This in turn increases the payment of interests on the issuing of bonds. The cost of equity capital also increases in the stock market as a result of borrowing. All these factors might eventually lead a company to financial distress or risk that leads to the increasing need for an appropriate capital structure (Broyles, 2003, p.304). ... primary aim of the study is to evaluate the capital structure of firms in the UK before the global economic crisis in the years around 2007 and after the financial crisis in the years 2011 or 2012. In order to achieve the above mentioned aim of the study, the following objectives have been considered: Review theories on capital structure in order to determine how it might change during a period of prolonged recession and liquidity crisis. Compare and contrast the capital structure of public UK companies in 2007 and in 2011/2012. Evaluate the extent to which any changes in capital structure are due to the ongoing global crisis. Capital Structure: An Understanding towards the Effect of Economic Crisis: There are four basic theories related to capital structure of a firm. These are: Net Income Theory of Capital Structure: This theory stresses on a firm’s ability to choose a capital structure where the level of share capital or equity is less than the debt of the firm. This helps a firm to increase its market value and thus decrease the weighted average cost of capital of the company. If the content of the debt in the capital structure mix is high, it is referred as financial leverage increasing which increases the value of the firm (Theories of Capital Structure, 2010). Thus it can be understood that when there is an economic crisis prevailing in a country, the availability of the debt reduces that affects the ration of the debt to equity and hence the capital structure of a firm would alter as a result. Net Operating income  Theory of Capital Structure: According to this theory, the concept of increasing financial leverage does not exist. It believes that changing the capital structure of a firm does not bring any change in the overall financial cost and value of the

Direct Manipulation Research Paper Example | Topics and Well Written Essays - 750 words

Direct Manipulation - Research Paper Example This gives an all the more intriguing feel to the human-computer interaction. The usage of this interface is more common in the video game development field. Most Direct Manipulation interfaces are of graphical concepts and could be now and again is alluded to as Graphical User Interface (GUI). This is on account of its use of on-screen graphical representation of actions (Heeter, 1991). Direct Manipulation interface is commenced upon a significant arrangement of standards. Quintessentially, these are the ideological demonstrations of existence of a Direct Manipulation interface. These rules or principles are as follows. The concept of realism: Firstly, the instruments in the computer are visually inseparable and indistinguishable from the real life objects they are being used to depict. For example, this is applied by having a knife in video games represente a real knife in all aspects. a helicopter in video is similar to a real world helicopter in all aspects. Moreover, actions performed on the objects in game are similar to those that would be or could be performed on similar objects in actual life. To further explain, illustrations form video games shall be drawn to exemplify this; a mobile phone in the game serves the same purpose that which it serves in real world which is to enable communication, an armored carrying vehicle serves the same purpose as its purpose in real world which is it sole purpose being of military use. Furthermore, the association between the in-game objects and actions performed on them and the objects in real world and actions performed on them is maintained even on con ceptual level. This, for example is illustrated by the fact that in video games, a motorbike will be driven as it is driven normally in the real world. There are examples of programmers going to painstaking measures in order to depict the real world phenomena such as aurora, water reflection and fire

Boeing Capital Company Analysis

Boeing Capital Company Analysis Introduction The importance that is associated with air travel cannot be undermined in any manner since provides a fast means of traveling and ensuring that business is conducted in an efficient manner by availing people where they are needed to be within a very short time. Additionally, it creates diversity by taking people to different places where they can interact with individuals from various cultures which eventually helps to enhance the spread of diverse cultural practices to the entire world. Through air travel, many economies of the world have been transformed in a manner that cannot even be comprehended, and this has helped a lot in building some of the largest economies in the world. People are provided with a chance to experience new things in life. For instance, this has helped to diversify the manner in which education is being carried out since students can now travel all over the world in search of knowledge. The Aerospace space industry continues to grow each and every other day, and this is made possible by more than 8 million individuals undertake air travel daily. On top of that, defense and security have been further enhanced by air travel since it is possible to avail safety where it is required in a matter of minutes. Description of the Company or Agency (Basically what business are you in) Boeing is one of the largest aerospace companies in the world. It does not only specialize in the manufacture of commercial jetliners, but it is also involved in the production of various other products such as space security systems and defense systems such as the fighter jets. Boeing is the largest exporter company that is located in the United States. Apart from supporting most of the airlines in the country by providing commercial airplanes, it also provides its products to other customers who are mostly government organizations in over on hundred and fifty countries. Some of the products that are designed by Boeing are customized while others are only mass produced and sold to customers why dont need to specifications to be associated with the products that they intend to buy. Most of the tailored products include satellites machines, weapons, defense systems that are electronic in nature, military aircraft, commercial aircraft, launch systems, advanced communication systems, pe rformance-based handling and training systems and even simulator machines. The company has been involved in the production of aerospace equipment for many years, and it is considered to be a leading company in this field due to the experience and the reputation that is associated with the organization. With time, it continually strives to tap into sections of the market that other aerospace companies have failed to explore. It is through the provision of a variety of services and products that can help to meet the needs of the clients in the most accurate manner. Some of the capabilities associated with Boeing Company include the ability to develop more advanced and better types of commercial airplanes because it is continually undertaking research into the market so as to understand the level of customers satisfaction based on the products that it has already availed to the market. Additionally, it can integrate the available defense systems and the military platforms, develop technology solutions that are more advanced than the ones that were already avai led in the market thanks to the team of researchers in the company that is continually looking for ways of improving the available systems. Finally, it is capable of coming up with financing options for the potential customers so as to enable more clients to gain access to its products since they normally are very expensive. Operation Description The company has an extensive knowledge about its clients, and this is enabled by an in-depth research of the market. Therefore, the company is able to understand the type of equipments that are needed by its customers. Boeings Capital Corporation (BCC) also has a collection of financial professionals why have been practicing the skill for an extended period hence they understand precisely how the market operates. BCC is one of the best financial corporations that provides support to clients who have subscribed to its services. The business is closely associated with the production of commercial planes, and Security Space Defense. The Corporation helps its customers to raise the required finance that will enable them to purchase and transfer Boeings products to their promises successfully. By the end of 2015, the company had earned a value of about four billion dollars. BCC has managed to achieve its success basically by incorporating its power of finance and its extensive network, therefore, enabling it to reach customers who are not only located in the United States but all over the World. Equipment or Aircraft For very many years, Boeing has been one of the major companies involved in the manufacture of commercial airplanes that are used in most countries. Its line of products is usually preferred by many clients simply because they are of high quality. Currently, the company can manufacture many commercial airplane versions which include Boeing 747, 743, 777,767 and finally the 787. These are in the range of the biggest commercial airplanes produced by Boeing. Other products that are still in the production line include the Boeing 777X, 737 Max, and the 787-10 Dreamliner. With each version of him Boeing, various characteristics are continually changed, and one of the most important aspects is the size which is steadily increasing for each version. Since the company started production of the Boeing line of products, it has managed to avail into the market about ten thousand commercial jets in the whole world which make about half of the fleet of the total airplanes that have ever been prod uced by any company. Additionally, the company provides cargo-carrying airplanes, which make up ninety percent of the total cargo planes in the world. The company offers its client with Commercial Aviation Services. By doing this, the company can provide unmatched all year support services to its customers which enable most of the airline companies and also the leasing companies that have subscribed to the company services to achieve operational efficiency. The Commercial Aviation Services department helps to provide aftermarket parts, modification, informations logistics services, engineering, and customer care support services. Other services provided include overhauled services, repair, and maintenance labor (Wen, 2003). Maintenance Requirements The Shared Services Corporation provides Boeing business units associated with a common pool of services so as to help in supporting the worldwide operations of the company. The shared services are of a wide variety, and they range from the maintenance and protection of Boeings international sites, Sales management, and acquisition of any property that may have been leased. The corporation is also involved in the purchasing of products that are not necessarily used in the production process and other office equipment supplies. Various human resource services which also include the recruitment of new employees are some of the services that are offered by this corporation to Boeing. Finally, Shared Services Corporation Actively participates in the management of Boeings financial matters, any expenses that may be incurred by the company as a result of travels to and from various destinations, and in availing communication services that have been customized (Holsapple, 2000). The Site Se rvices Corporation also offers Boeing with the maintenance and repairs services, reals estate management, planning of the manner in which property will be acquired, and finally the process of implementing projects that involve the construction of structures (Saraph et al 1989). Managers Roles and Responsibilities All the activities that are typically undertaken in Boeings offices are finalized by the company employees, corporation officers, and managers with the help and guidance of the Board of Directors together with Chief Executive Officers. The organizations corporate governance policies and practices are typically reviewed continuously by the organization committee. The Board of directors and the corporations officers have a long-term interest in the company. Therefore, it is important to ensure that the corporation clients, public officials, employees, suppliers, surrounding communities, and shareholders gain positively out of the operations of the organization. On top of that, the Board has managed to develop its own Code of Ethics that helps in the conducting the daily activities of the corporation so that they are in line with the various legal stipulations (Zahra, 1989). Having these regulations helps the company to continually stay on the right track as they deal with the different ethical issues that arise within the business premises as a result of the operations being carried out by various employees. Through the use of the code of ethics, the company is also able to enhance the mechanisms that already exist within the organizations and can help in reporting cases of unethical behavior occurring as this plays a crucial role in ensuring that a culture of accountability and honesty is enforced within the company premises (Pronovost et al, 2009). Staff Qualifications, Certifications, and Responsibilities Within the Shared Services Corporation, Boeing constitutes has a percentage of shares since it has employed approximately forty thousand employees who are responsible for availing about forty types of unique services all day long throughout the year. The Sites services have a bee assigned a budget of about three billion dollars which is specifically meant for the operations services. By doing this, the company can leverage scale economies so as to enable the delivery of value-added services to clients and its business partners who are involved in the manufacture and provision of defense and security and additionally the commercial airplanes that need to be availed to the company (Waldron, 2006). The company has it corporate offices located in Chicago, and it has managed to employ over one hundred and fifty employees within the United States and sixty-five more countries. The companys continued existence is a reflection of its diversity and ease in adapting to the changing market conditions such that it can last for a very long time. Additionally, one important factor that supports the continuous positive progress of the company is the fact that it has a very innovative and hardworking workforce. Our business continues to outsource more of the talented youth in the world so that they can join its workforce and continue to make it rise higher. The company does not necessarily look for academic qualification so that it can employ an individual, but rather, it explores the various ways that it can use the talent of individuals to encourage innovation in the society. Regulations and Laws The various operations of the company are guided by different by-laws that regulate the manner in which meetings will be carried out by the board of directors and various stakeholders to ensure inclusive of all parties that are interested in the operations and management of the company (Berkes, 2000). According to the laws of the company, the Annual General Meeting is supposed to be held on a particular date and time that is precisely determined by the board of directors. During such meetings, the leaders will be elected, and any other significant business transactions that need to be addressed also have to be discussed during such meetings. The board of directors has the power to call a meeting with all the stakeholders at any time that it wishes to do so. Also, in case the Secretary makes a special request for a meeting, then the board of directors is supposed to summon all the stakeholders for the meeting. The secretary can only write a special request for a meeting when there is a need to undertake an election so as to dispose of about 25% of shares held by the company. For such a request, each of the stakeholders provides a signature stating the number of shares that they own. Any business that is transacted in the course of a particular meeting is only supposed to be limited to the purpose for which the meeting was called upon, and it should not deviate to any other general matters. Any meetings that are held together with the stakeholders shall be conducted within specified premises as directed by the board of directors or as it is indicated in notices. However, there is a default location in which the meetings should be held. Notice of any meeting that should be held will be availed to stakeholders through any suitable methods but most specifically mail or an electronic transmission option. All Stakeholders have the right to vote at any meeting called forth. They also have the right to express any form of dissatisfaction towards any actions that may have been taken by the board of directors without the need of having to wait until a meeting is held (Delmas Toffel, 2004). Safety Security The shared services organization provides Boeing with various specialized services. For instance, it is responsible for offering the company with international insurance services that cover the company in case of the occurrence of a risk factor. The Shared Services is responsible for ensuring that the Security maintenance at all Boeing premises is at the highest level possible. Any premise associated with Boeing should be fully protected and most importantly the information that helps to support the continuous operation of the business. Any other risk mitigation measures should be fully installed to prevent an occurrence of damage to the company property (Tipton, 2012). The Defense, Security and Space Corporation is very diverse since it avails most advanced solutions to the market which can be used in the designing, production process, customization and offering support to clients who purchase rotorcrafts, satellite systems, weapons and fixed wings military aircraft. The organization is involved in providing clients with solutions to some of the major customer requirements by availing a full range portfolio which incorporates the 702 model of satellites. Some other defense products include the AH-64 helicopter, EA-18G aircraft that is electronics and is mostly used to attack enemies, KC-46 refueling planes, P-8 anti-aircraft/ submarine atropine (derived from the 737 commercial airliners). This organization is motivated by its capability to offer clients custom-made solutions that can address customers needs adequately and promptly and at the most suitable cost. Apart from producing products that are designed to be used by clients, this unit is responsible for the general management of security within all branches associated with Boeing. This is an operation cost reduction method since the company managers decided that it would be wise to use the services its own business units in the provision of security rather than make use of a different business organization that would only end up increasing the operation costs (Kaplan Norton, 1996). Environmental Responsibilities Working with stakeholders is important since it helps to ensure that activities that enhance environmental conservation are promoted. Due to its growth, Boeing targets to be a leader in promoting a sustainable environment as it also strives to provide its employees with the best services that can be availed in the industry. The three top tenets that Boeing aims to address are; encouraging worldwide collaboration in environmental conservation, design the future in a sustainable manner and finally coming up with sustainable innovations (Selin, 1995). The company intends to avail the best and most fuel-efficient planes in the industry. Also, it plans to provide highest quality services to its customers. All this will be achieved through; ensuring that it complies with various environmental regulations as it conducts its daily operations. Boeing has also come up with its policies and procedures that can help to ensure that environmental conservation is enhanced. Preventing environmental pollution through conservation of energy resources as this will contribute to the reduction of the levels of waste that gets disposed of by researching on the various mitigation measures. The company has managed to develop a management system that will help in improving the state of the environment both for the current and future generation through the reduction of waste that is normally released into the environment (Born, 1995). Other Management Factors Considered The Company is organized into three major business units. They are; Defense, outer space security department, and the Commercial production and supply unit. The whole company is majorly supported by a corporation known as Boeing Capital which is the primary provider of financial solutions to all the company branches worldwide (Probst, 2004). This financial firm also helps to finance other businesses that may have subscribed to its services. Other Corporations involved in supporting the major units at the company include Shared Services Organization (it avails some services to all the company branches), Boeing Engineering, Operations and Technology (this organization helps to create, purchase, implement and provide protection to the various innovations that are developed at Boeings premises) (Council, 2007). The business and finance organization is responsible for offering shared services in accounting, cost management, and financial management. The agency is responsible for providin g account payroll/payable functions to all business units associated with Boeing (Jensen, 1997). References Berkes, F., Folke, C., Colding, J. (2000). Linking social and ecological systems: management practices and social mechanisms for building resilience. Cambridge University Press. Born, S. M., Sonzogni, W. C. (1995). Integrated environmental management: strengthening the conceptualization. Environmental management, 19(2), 167-181. Council, A. C. G. (2007). Corporate governance principles and recommendations. Boeing: Shared Services. Boeing.Com, 2017, http://www.boeing.com/company/key-orgs/ssg.page. Delmas, M., Toffel, M. W. (2004). Stakeholders and environmental management practices: an institutional framework. Business strategy and the Environment, 13(4), 209-222. Holsapple, C. W., Joshi, K. D. (2000). An investigation of factors that influence the management of knowledge in organizations. The Journal of Strategic Information Systems, 9(2), 235-261. Jensen, R. S. (1997). The boundaries of aviation psychology, human factors, aeronautical decision making, situation awareness, and crew resource management. The international journal of aviation psychology, 7(4), 259-267. Kaplan, R. S., Norton, D. P. (1996). Using the balanced scorecard as a strategic management system. Probst, T. M. (2004). Safety and insecurity: exploring the moderating effect of organizational safety climate. Journal of occupational health psychology, 9(1), 3. Pronovost, P. J., Goeschel, C. A., Olsen, K. L., Pham, J. C., Miller, M. R., Berenholtz, S. M., Loeb, J. M. (2009). Reducing health care hazards: lessons from the commercial aviation safety team. Health Affairs, 28(3), w479-w489. Saraph, J. V., Benson, P. G., Schroeder, R. G. (1989). An instrument for measuring the critical factors of quality management. Decision sciences, 20(4), 810-829. Selin, S., Chevez, D. (1995). Developing a collaborative model for environmental planning and management. Environmental management, 19(2), 189-195. Tipton, H. F., Nozaki, M. K. (2012). Information Security Management Handbook, Volume 6. Auerbach Publications. Waldron, J. (2006). Safety and security. Neb. L. Rev., 85, 454. Wen, T. A. N. G., Zhong, C. H. E. N. (2003). Research of subjective trust management model based on the fuzzy set theory. Journal of software, 14(8), 1401-1408. Zahra, S. A., Pearce, J. A. (1989). Boards of directors and corporate financial performance: A review and integrative model. Journal of management, 15(2), 291-334.

Letter to My Old School Friend Essay

It been has been a long time since we last saw each other, so I took this time to write to you. Remember the time in elementary school when we had the field trip before summer vacation. It was a time when we visited the shopping plaza for the very first time in Manhattan. This was one of the memorable days of my life. It all started in science class when we decide to plan a nice surprise for our teacher for her upcoming birthday, so our enthusiastic principle appeared and said† good morning class, I have a great treat for you† and nasha exclaimed with so much curiosity â€Å"were are o the we going† and he said â€Å"to the new shopping plaza† so he gave out letter with a consent form attached with it, so after I went home and get ready for the trip tomorrow , when getting ready my consent form disappeared so I search saying in my mind I am not missing that so, I was so worried and called my friend nasha and she said â€Å" don’t worry this matter is imperceptible† and replied to her in a melancholy voice† why you saying that? If I don’t have the form I cannot go on the trip, is there a next alternative† she said† yes† so I said to her what† she said â€Å"have your parents to write a letter for me† so I told her that is a good idea. So next day I pack my things kissed my mom and rushed on the school bus ,when I got to my the classmate were all lined up to enter the bus. When we got on the bus I sit near the window. When we got there I saw the most building beautiful and creative place.

SPSS analysis on modern portfolio theory-optimal portfolio strategies in today’s capital market

Abstract This paper provides information on specific ideas embedded in single index model/construction of optimal portfolios compared to the classic Markowitz model. Important arguments are presented regarding the validity of these two models. The researcher utilises SPSS analysis to demonstrate important research findings. This type of analysis is conducted to explore the presence of any significant statistical difference between the variance of the single index model and the Markowitz model. The paper also includes implications for investors. Introduction In the contemporary environment involving business investments, selecting appropriate investments is a relevant task of most organisations. Rational investors try to minimise risks as well as maximise returns on their investments (Better, 2006). The ultimate goal is to reach a level identified as optimal portfolios. The focus in this process is on initiating the portfolio selection models, which are essential for optimising the work of investors. Research shows that the Markowitz model is the most suitable model for conducting stock selection, as this is facilitated through the use of a full covariance matrix (Bergh and Rensburg, 2008). The importance of this study reflects in the application of different models so as to develop adequate portfolios in organisations. It is essential to compare certain models because investors may be provided with sufficient knowledge about how they can best construct their portfolios. In this context, the precise variance of the portfolio selection model is important, as it reflects portfolio risk (Bergh and Rensburg, 2008). Information on the parameters of different models is significant to make the most appropriate decisions regarding portfolio creation. Markowitz is a pioneer in the research on portfolio analysis, as his works have contributed to enhancing investors’ perspectives on the available options regarding specific models of constructing optimal portfolios (Fernandez and Gomez, 2007). Research Methodology The research question presented in this study referred to the exploration of ideas embedded in single index model/construction of optimal portfolios and comparing them with the classic Markowitz model. The focus was on the construction of optimal portfolios, as the researcher was concerned with the evaluation of constructed portfolios with specific market parameters (Better, 2006). Moreover, the researcher paid attention to the stock market price index, including stocks of organisations distributed in three major sectors: services, financial, and industrial (Fernandez and Gomez, 2007). The behaviour of this index was explored through the implementation of SPSS analysis. The data covered a period of seven years, starting on January 1, 2000 and ending on December 31, 2006. It was essential to evaluate the effectiveness parameters of the single index model/construction of optimal portfolios and the Markowitz model. The criteria for the selection of companies included that all organisati ons shared the same fiscal year (ending each year on December 31) as well as they have not demonstrated any change in position. Results and Data Analysis The research methodology utilised in the study is based on the model of single index/optimal portfolios and the Markowitz model. The exploration of the relationship between these two models required the selection of 35 equally weighted optimal portfolios, as two sizes of portfolio were outlined. An approximate number of 10 optimal portfolios represented the first size, which further generated 12 portfolios. In addition, the researcher considered the option of simulating of optimal portfolios represented at second sizes (Bergh and Rensburg, 2008). The criterion of queuing randomise portfolio selection has been used to generate approximate 23 portfolios from the second size category. The researcher selected five and 10 stocks to analyse the data. The portfolio size split allowed the researcher to explore how the portfolio size could be used to affect the relationship between the single index model/optimal portfolios and the Markowitz model (Fernandez and Gomez, 2007). Results of testin g the data are provided in the table below: Optimal portfolio numberVariance of Single Index ModelVariance of the Markowitz ModelOptimal portfolio numberVariance of the Single Index ModelVariance of the Markowitz Model 100.00370.003950.00210.0023 100.00140.001750.00280.0038 100.00210.002850.00420.0051 100.00200.002150.00250.0030 100.00310.003550.00260.0024 100.00190.001950.00330.0038 100.00880.008650.00670.0071 100.00280.003750.00370.0053 100.00250.002450.00380.0043 100.00220.002350.00210.0020 100.00190.002050.00630.0061 100.00230.002650.02120.0202 Table 1: Variance of Five and 10 Optimal Portfolios Based on the results provided in the table, it can be concluded that the variance between the single index model/construction of optimal portfolios and the Markowitz model is similar. For instance, values of 0.0020 and 0.0019 for the variance of the two models are similar. This means that the results do not show substantial statistical differences between the two models. The tables below contain a descriptive summary of the results presented in the previous table: MeasureSingle Index ModelMarkowitz Model Mean0.00440.0047 Minimal0.00210.0020 Maximum0.02120.0202 Standard Deviation0.00370.0035 Table 2: Descriptive Summary of 10 Optimal Portfolios The results in Table 2 were derived from testing the performance of 10 optimal portfolios. It has been indicated that the mean for the single index model of 10 portfolios is 0.0044, while the mean for the Markowitz model is 0.0047, implying an insignificant statistical difference. The minimal value of the single index model is reported at 0.0021, while the minimal value of the Markowitz model is 0.0020. The difference is insignificant. The maximum value of the single index model is 0.0212, while the same value of the Markowitz model is 0.0202. Based on these values, it can be argued that there is a slight difference existing between the two models. The standard deviation of the single index model is 0.0037, while the standard deviation of the Markowitz model is 0.0035, which also reflects an insignificant statistical difference. MeasureSingle Index ModelMarkowitz Model Mean0.00280.0031 Minimal0.00140.0017 Maximum0.00880.0086 Standard Deviation0.00200.0019 Table 3: Descriptive Summary of 5 Optimal Portfolios Table 3 provides the results for five optimal portfolios. These results are similar to the ones reported previously (10 optimal portfolios). The mean for the single index model of 5 optimal portfolios is 0.0028, while the mean for the Markowitz model is 0.0031, implying an insignificant statistical difference. There are insignificant differences between the two models regarding other values, such as minimal and maximum value as well as standard deviation. Furthermore, the researcher performed an ANOVA analysis of 10 optimal portfolios, which are presented in the table below. It has been indicated that the effective score for the single index model and the Markowitz model is almost the same. Yet, an insignificant difference was reported between the two means and standard deviations for both models. ANOVA AnalysisSum of squaresDfConditionMeanStandard DeviationStandard Error MeanFSig. Between Groups.00011.000.003125.0018704.0005399.089.768 Within Groups.000222.000.002892.0019589.0005655 Total.00023 Table 4: ANOVA Analysis for the Variance between the Single Index Model and the Markowitz Model of 10 Portfolios From the conducted analysis, it can be also concluded that the F-test presents an insignificant statistical value, implying that the researcher rejected the hypothesis of a significant difference existing between portfolio selections with regards to risk in both models used in the study (Fernandez and Gomez, 2007). Hence, the hypothesis of a significant difference between the variance of the single index model and the Markowitz model was rejected (Lediot and Wolf, 2003). In the table below, the researcher provided the results of an ANOVA analysis conducted on five optimal portfolios: ANOVA AnalysisSum of SquaresDfConditionMeanStandard DeviationStandard Error MeanFSig. Between Groups.00011.000.004852.0036535.0007618.096.758 Within Groups.001442.000.004509.0038595.0008048 Total.00145 Table 5: ANOVA Analysis for the Variance between the Single Index Model and the Markowitz Model of 5 Portfolios The results from Table 5 show that the variance between the single index model and the Markowitz model of five optimal portfolios is almost the same. Regardless of the stock number in the selected optimal portfolios, there is no significant statistical difference between the single index model and the Markowitz model. The main finding based on the reported data is that the single index model/construction of optimal portfolios is similar to the Markowitz model with regards to the formation of specific portfolios (Bergh and Rensburg, 2008). As indicated in this study, the precise number of stocks in the constructed optimal portfolios does not impact the final result of comparing the two analysed models. The fact that these models are not significantly different from each other can prompt investors to use the most practical approach in constructing optimal portfolios (Haugen, 2001). Placing an emphasis on efficient frontiers is an important part of investors’ work, as they are focused on generating the most efficient portfolios at the lowest risk. As a result, optimally selected portfolios would be able to generate positive returns for organisations. This applies to both the single index model and the Markowitz model (Fernandez and Gomez, 2007). Conclusion and Implications of Research Findings The results obtained in the present study are important for various parties. Such results may be of concern to policy makers, investors as well as financial market participants. In addition, the findings generated in the study are similar to findings reported by other researchers in the field (Bergh and Rensburg, 2008). It cannot be claimed that either of the approaches has certain advantages over the other one. Even if the number of stocks is altered, this does not reflect in any changes of the results provided by the researcher in this study. Yet, the major limitation of the study is associated with the use of monthly data. It can be argued that the use of daily data would be a more viable option to ensure accuracy, objectivity as well as adherence to strict professional standards in terms of investment (Better, 2006). In conclusion, the similarity of the single index model and the Markowitz model encourage researchers to use both models equally because of their potential to generate optimal portfolios. Moreover, the lack of significant statistical differences between the variance of the single index model and the Markowitz model can serve as an adequate basis for investors to demonstrate greater flexibility in the process of making portfolio selection decisions (Haugen, 2001). The results obtained in the study were used to reject the hypotheses that were initially presented. As previously mentioned, the conducted F-test additionally indicates that the single index model and the Markowitz model are almost similar in scope and impact (Fernandez and Gomez, 2007). Investors should consider that portfolio selection models play an important role in determining the exact amount of risk taking while constructing optimal portfolios. Hence, investors are expected to thoroughly explore those models while they select their portfolios (Garlappi et al., 2007). Both individual and institutional investors can find the results generated in this study useful to facilitate their professional practice. A possible application of the research findings should be considered in the process of embracing new investment policies in the flexible organisational context (Bergh and Rensburg, 2008). Future research may extensively focus on the development of new portfolio selection models that may further expand the capacity of organisations to improve their performance on investment risk taking indicators. References Bergh, G. and Rensburg, V. (2008). ‘Hedge Funds and Higher Moment Portfolio Performance Appraisals: A General Approach’. Omega, vol. 37, pp. 50-62. Better, M. (2006). ‘Selecting Project Portfolios by Optimizing Simulations’. The Engineering Economist, vol. 51, pp. 81-97. Fernandez, A. and Gomez, S. (2007). ‘Portfolio Selection Using Neutral Networks’. Computers & Operations Research, vol. 34, pp. 1177-1191. Garlappi, L., Uppal, R., and Wang, T. (2007). ‘Portfolio Selection with Parameter and Model Uncertainty: A Multi-Prior Approach’. The Review of Financial Studies, vol. 20, pp. 41-81. Haugen, R. (2001). Modern Investment Theory. New Jersey: Prentice Hall. Lediot, O. and Wolf, M. (2003). ‘Improved Estimation of the Covariance Matrix of Stock Returns with an Application to Portfolio Selection’. Journal of Finance, vol. 10, pp. 603-621.