Microeconomic Economic Essay Example | Topics and Well Written Essays - 750 words

Microeconomic Economic - Essay Example Prioritizing needs help in determining which needs can be satisfied first within the limited budget by postponing the less important ones. At a national level, the budgeting activities help in putting the government’s revenues into adequate spending areas. These are then broken down into provincial and state budgets making the allocation more precise and directed, increasing the chances of more effective use. The phenomenon of demand and supply and their effect on price determine the feasibility of each transaction in one’s personal life. By understanding the basic laws of demand and supply, I understand that the goods in demand are likely to be high priced when in season and vice versa. This helps me make smarter decisions in the day to day life. For example appliances like air conditioners are likely to be on discounted deals in winters, making it feasible for me to purchase one in winters instead of in summers. Similarly, shopping for jackets in summers helps me save a bundle on shopping for the same apparel in season. When the price affects the demand level, this is known as elastic demand. Similarly the goods whose demand is not affected by slight change in price are called inelastic. In my daily life i come across many goods that I can do without and pursue cheaper alternatives. However, being loyal to a couple of brands, I give price moderate weightage in the whole buying transaction. On the other hand, the evident inflation for necessities reflects the masses helplessness and constant demand no matter how much the prices fluctuate. Opportunity cost refers to the cost of letting one alternative go for the opting of the other. This implies prioritization and weighing the loss against the gain of each alternative. For example, the choice of working professionally instead of studying further or comparing the pros

Sustainale management futures Essay Example | Topics and Well Written Essays - 3000 words

Sustainale management futures - Essay Example Apparently, the author argued that business and ethics are two contradictory notions that have been brought together. Nonetheless, growing corporate malpractices has highlighted demand of corporate or business ethics significantly. Crane and Matten (2010) defined business ethics as assessment of a particular business situation or activity or decision that involve moral dilemma related to right and wrong. In business ethics, moral correctness is stress upon instead of commercially, strategically and financially correctness. Although there are several instances of violation of business ethics, one of the greatest scandals from gas and oil industry has been selected for evaluation with respect to two ethical theories. The paper will evaluate incident of Gulf Oil Spill by British Petroleum (BP) in the lights of Utilitarianism theory and Kant’s Ethics of duties or deontology theory. The oil and gas industry has been considered for evaluation of ethical crisis in business because this industry is one of the essential sectors from the perspective of economic development and environmental impact. The United States alone consist of 24.7 percent of global oil share while accommodating other subsectors such as exploration and production of oil and gas. Significant oil and gas reserved in the nation has attracted several global players such as British Petroleum (Marketline, 2012a; Marketline, 2014). Oil spill is often considered as an unavoidable situation in the process of drilling and extraction but the situation can cause havoc if goes uncontrolled. Two such critical examples are spill by Exxon Valdez in the gulf coast of Alaska and BP spill at the Gulf of Mexico. Prior to discussing the spill and its ethical consequences, brief introduction regarding BP Plc has been provided in the following section (Hanson, 2014). BP Plc was founded in 1901 and currently, it is considered as one of the largest oil and gas

Teach for America to Increase the Workforce and Adopt New Technology Term Paper

Teach for America to Increase the Workforce and Adopt New Technology - Term Paper Example It has recorded steady growth since it was founded. Currently, it has more than 5000 employees. Teach for America is looking to reach out to the low income community and promote education relentlessly. The organization has been expanding over the years and its operations are extending all over the United States. The organization is looking to increase its workforce in order to expand its operations all over the nation. This paper will focus on the systemic nature of the organization and how the increase in the workforce will improve the effectiveness of the organization, its processes and the productivity of the employees. Effects of the increase in the number of employees Teach for America is a nonprofit organization that seeks to provide education opportunities to children in America, both in urban and rural areas regardless of the size of their parents and guardian’s income. The organization has formed partnerships with several charity organizations and depends on donations from companies and well wishers. The organizations appeals to alumni graduates and leaders to join and become mentors to young students pursuing academic greatness. The key stakeholders in the organization are the human asset business partners that ensure that the organizational goals are met. It ensures that teamwork is upheld in the organization (Strachan, 1996). ... The management will have to come up with ways to fund the change since more funds are required to compensate the new employees. The deficit from the annual budget increase will also call for the injection of more funds in order to cater for the new projects. The organization aims at reaching out to more children from the rural areas. An increase in the number of poor students that the organization supports will have a divine funds straining effect on the organization. Increase in responsibility as funds remain constant leads to financial strains (Strachan, 1996). In order to cater for the financial requirements, the organization might be forced to lower on the employees’ compensation amount. This will ensure that whatever amount is available is equally distributed among the entire workforce. However, this will have a negative effect on the employees since it might kill their moral as they are going to be doing more work than they are being rewarded for. If the organization is to increase its workforce therefore, they will have to come up with better ways to raise funds (Hanson, 1999). An increase in the workforce will enhance the overall performance of the organization. It will enable the organization to reach out to a greater number of children in the rural areas and to motivate those already in schools. There are wide regions that need to be covered. The organization strives to ensure that education opportunities are provided to children and therefore the move to increase the workforce is parallel to the organization’s mission statement (Hanson, 1999). An increase in the workforce will also translate to a transformation in the way roles in the

What I have learned in this class Essay Example | Topics and Well Written Essays - 1000 words

What I have learned in this class - Essay Example My introduction to this class laid the groundwork for a clear understanding of construction project management. I understood that this class was not going to teach me everything I need to know about this topic, but that learning is a lifelong process. Many valuable lessons can be learned from others. It may be valuable to try and think about problems in a different context and from a different perspective. It the construction industry, as in many industries, it is often the soft-side or people aspect of engineering that makes the difference. Remember that people are often the most important part of a process. People plus process equal product. So I will remember to use my education in context, learn from others, and continue to expand my knowledge of construction project management. The construction industry is very unique. Construction can be run in an open shop, union shop, or merit shop. Residential construction consists of building places for people to live such as houses or apartment building. Commercial and institutional construction consists of building structures such as office buildings. Infrastructure construction is usually civil engineering projects such as highways, bridges, or waterworks. Industrial construction involves manufacturing or power projects. The construction industry is unique, always changing, not always extremely technical, doesn’t always contain a lot of data or standardization, has a large number of participants and people involved. There has been a lot of legislation to monitor the construction industry such as requiring bids on jobs and controlling wage rates. Computers are being used more and more in the construction industry. The quality and quantity of labor in this industry are declining. Material, equipment, labor, an d management are blending more and more on the global scale. Vendors and suppliers are becoming more involved at the construction

Cognitive And Neuropsychological Models Of Mathematical Processing Essay

Cognitive And Neuropsychological Models Of Mathematical Processing Have Advanced Our Knowledge Of How We Do Mathematics - Essay Example Number sense may is indispensable to judge the number of predators or the quantity of food or the size of the turf indispensable for survival (Gallistel C. R., Rochel Gelman. (2003)). Research to understand brain mechanisms underlying mathematical ability have included not only normal human subjects but infants, patients with injured brains and even animals. While an unequivocal proof is still illusive, several interesting finds have helped make progress. Studies confirm the mathematical prowess all of many animals like chimpanzees, birds and even the lions (Gallistel C. R., Rochel Gelman.(2003)), (Brian Butterworth.1999. ) Human understanding of mathematics is more complex and advanced as it involves the verbal pathways as well. According to Butterworth, human cognition of numbers begins from the first day of life. Studies were performed with babies by increasing or decreasing the number of dolls shown to them. A perceptible, intelligent change in their response confirmed the presen ce of mathematical hardware in the brain right from Birth. In fact Butterworth calls this an, â€Å"instinct.† (Brian Butterworth.1999.)

Effects of Technology on the Hr Function Essay Example for Free

Effects of Technology on the Hr Function Essay Critically analyse the ways in which the increasing application of technology at work have an effect upon the HR function. The use of technology within HRM has grown considerably within recent years with the majority of large organisations now using technology of some form within their HR function (CIPD, 2005). As HR becomes increasingly reliant on technology it is important to assess its effect upon the HR function. Firstly, consideration will be given to definition of terms along with a description of the uses of technology within the HR function. Next the change in the structure of the HR profession that has developed alongside the emerging and growing use of technology will be addressed. The goals of the use of technology which have been afforded a significant amount of attention within the literature will then be outlined along with consideration of the realisation of these goals. In addition, the effect of shared service centres, which make significant use of technology, upon the role of HR practitioners will be addressed in conjunction with the views of HR practitioners themselves. Whilst little attention has been given to the situating of the use of technology in HR within a wider sociological perspective in the academic literature, an attempt will be made to consider the effect of technology upon HR within such a debate. Finally, conclusions will be drawn as to the impact of the use of technology upon the HR function. It is firstly important to consider what is meant by the use of technology within the HR function. The term e-HRM is frequently used to refer to the use of technology within the HR function. The use of e-HRM varies enormously within organisations and may be used for different purposes (Parry et al. 2007). The term Human Resource Information System (HRIS) is also used to refer to any system that helps an organisation to â€Å"acquire, store, manipulate, analyse, retrieve and distribute information about an organisation’s human resources† (Tannenbaum, 1990, p.28). However, the use of technology within HR is broader than the use of HRIS and may encompass manager and employee self-service, the use of staff intranets and e-enabled processes such and recruitment and performance management amongst others (Reilly, 2012). It is acknowledged that some current research focuses on the more recent developments in web-based technology, collectively referred to as social media technologies or Web 2.0 (see Reddington, 2012). However, the use of Web 2.0 is outwith the focus of this discussion. HRIS was originally used for standardising the gathering of information about and for employees (Kovach et al. 2002). However, the use of HRIS has subsequently developed and is now used more broadly for purposes such as recruitment and selection, learning and development, administration of flexible benefits and performance appraisal (Grensing-Pophal, 2001) or to manage HR and employee information across the whole employment cycle (Parry et al. 2007). Technology has also been increasingly associated with supporting integrated call centres, shared service centres and the use of manager and employee self-service (CIPD, 2007). There is a great emphasis in the literature about the potential goals of e-HRM (Marler, 2009; Ruel, Bondarouk and Looise, 2004). However, there has been less emphasis on whether these goals have been realised in reality (Parry and Tyson, 2011; Strohmeier, 2007). Alongside the development and increasing use of technology is the development and changing role of the HR function itself. Traditionally the HR function has been seen as being a largely administrative function, focussed on administrative processes such as the maintenance of employee and payroll records (CIPD, 2007). It would appear that in its search for identity and the resulting proposed need for transformation of the function (Ulrich, 1997), HR has made use of technology to attempt to facilitate this transformation (Shirvastava and Shaw, 2003). Ulrich (1997) has argued that HRM should become a strategic business partner, in addition to performing roles as administrative expert, change agent and employee champion. It has been suggested that the use of technology within the HR function may create the opportunity for HR to become more strategic by freeing up time through the automation of many administrative tasks (Parry et al. 2007). The provision of accurate and detailed information available through the use of HRIS could also enable HR practitioners to engage in a more strategic role as such data could be used to inform managerial decisions. The move to new service delivery models of HR and the development of technology can be seen as interdependent as without increasingly sophisticated technology the various elements of HR service delivery may not be as effective (Reddington, 2012). Drivers for introduction of technology can be described as being operational, relational or transformational (Kettley and O’ Reilly, 2003; Snell, Stueber and Lepak, 2002) Operational goals can be described as having a focus on reducing the administrative burden of HR and cost effectiveness, whilst enhancing the accuracy of data; relational goals relate to improving services for internal customers due to reported low levels of satisfaction with the HR function (Kyprianou, 2008) and transformational goals address the strategic aims of the business (Lepak and Snell, 1998; Martin et al. 2008). These drivers of e-HRM can be seen as addressing either transactional or transformational goals (Martin et al. 2008). Transactional goals relate to operational efficiencies or improved service delivery. There is talk of liberating HR through technology (Shirvastava and Shaw 2003) although this strong statement is qualified by the requirement that it informates as opposed to automates HR proc esses. The distinction between automating and informating is made by Zuboff (1988) whereby automating relates to increasing efficiency through computerising work processes and procedures with decreasing dependence on human skills. In contrast, informating refers to increasing effectiveness through acquiring information by using information technology and using that information to create new knowledge. Automating could be seen as relating to addressing operational goals whereas informating could potentially address the relational and transformational goals through provision of information to inform decisions and strategy. Despite the attention to the promise of technology in transforming the HR function, much less attention has been given to the impact of technology on the HR function and whether or not the highly prized strategic orientation of HR has been achieved (Lepak and Snell, 1998, Shrivastava and Shaw, 2003). Studies that relate to whether e-HRM is achieving its operational goals provide some mixed results (Strohmeier, 2007). In practice it would appear that HRIS is having a slightly better (but not statistically significant) impact in areas of information processing, for example improving the speed that information is available and the quality of the information available than in economic terms, such as reducing headcount, lowering operational costs and improving productivity and profitability (CIPD, 2005). However, within this survey, in a third of cases the reduction in administrative burden was less than was to be expected. Stronger support for the operational impact of e-HRM comes from analysis of 10 case studies by Parry et al. (2007) which showed that technology can lead to faster and more efficient processes, greater accuracy and consistency as well as a reduction in costs. A number of other studies also provide some evidence of the impact of technology on operational efficiency ( Marler, 2009; Ruel, Bondarouk and Looise, 2004; Ruta, 2005). However, it may be that some caution needs to be exercised in drawing conclusions on the impact of e-HRM in this area as it may be that the efficiencies achieved within the HR function are simply moved elsewhere within the organisation as the responsibility for some tasks is moved from HR to line managers or employees (Ruel, Bondarouk and Looise, 2004). There is some positive evidence for the relational impact of e-HRM, notably improvements in HR service delivery achieved through the increased accuracy of data or by simplification of processes (Gardener, Lepak and Bartol, 2003). However, the relational impact of e-HRM appears to have been granted little attention in the literature (Strohmeir, 2007). Whether technology has led to a transformational impact on the HR function appears even less clear than the impact it has had on transactional processes. Despite the identification by many organisations of transformational drivers being important in the adoption of e-HR (Watson Wyatt, 2002; Yeung and Brockbank, 1995) it would seem that the issue of whether e-HRM supports a transformation of the HR function into a strategic business partner is only â€Å"parenthetically addressed† (Strohmeir, 2007, p.28). Indeed, Bondarouk and Ruel (2009, p.508) state â€Å"organisations are definitely silent about whether their HR departments become more strategic with e-HRM†. Where evidence is presented it is contradictory in nature. It would seem that in some cases technology has not led to a more strategic orientation of the HR function and has been used mainly for automating operational processes (Burbach and Dundon, 2005; Dery, Grant and Wiblen, 2009; Kinnie and Arthurs, 1993; Tansley et al. 2001). Indeed, Broderick and Boudreau (1992) found that most organisations have only used technology to support a narrow range of administrativ e decisions, resulting in efficiencies in managing information but that the potential competitive advantage of technology has not been exploited. In contrast, other studies have offered some evidence that e-HRM has supported the strategic integration of HR with business strategy (Olivas-Lujan, Ramirez and Zapata-Cantu, 2007; Ruel, Bondarouk and Looise, 2004; Teo, Soon and Fedric, 2001) More recent research has provided some anecdotal evidence for a move towards a more strategic role (Parry and Tyson, 2011) although the evidence supporting the transformational impact compared with the operational and relational appeared to be the weakest. It would appear that there is far greater attention in the literature to the potential for e-HRM to have an impact in the three areas outlined above than there is accorded to the actual outcomes (Shrivastava and Shaw, 2003; Strohmeir, 2007). The reorganisation of the HR function and the introduction of shared service centres appears to have had an impact on numbers of on-site HR staff and a reduction in the number of HR staff to employees (Francis and Keegan, 2006). The operation of such shared service centres relies on technology that is characterised by formalisation, routinisation and centralisation resulting in an impact on staffing of such centres, which require specialised but generally low level HR administrators (Martin and Reddington, 2009). Research that addresses the issue of how HR practitioners have viewed the increasing use of technology appears to be limited to date. There is evidence that some practitioners may view the use of technology and an associated increase in the use of shared service centres cautiously because it has resulted in a reduction of face-to-face relationships, which is often the reason individuals cite for choosing a career in HR (Francis and Keegan, 2006). Martin and Reddington (2009) suggest that the significant role of technology within shared service centres will lead to a lowering of the status of those employed in such environments especially when compared to the status of HR business partners. It is arg ued that there is a risk of deskilling within the administrative function of HR and that staff may be confined to more routine tasks where they had previously had a wider role (Reilly, 2000). It is also suggested that within shared service centres different skills may be required and staff may be employed who have customer service skills but who do not necessarily have a background in HR as technical knowledge can be learned whereas the right attitudes may be harder to learn (Parry et al. 2007; Reilly, 2000). In addition to this, there is evidence that suggests that there a perception amongst HR practitioners of an increasing distance between those at the top and bottom of the career ladder and that people from outwith the HR function are â€Å"parachuting† into the top jobs (Francis and Keegan, 2006). This effect could possibly be explained by the requirement of new areas of expertise, such as technical, consultancy and project management skills (Parry and Tyson, 2011), which may require developing within HR practitioners and could possibly result in recruiting from outside the profession. Indeed a number of reports emphasise the skills of HR staff as a significant barrier to transformation of the HR function (see Reilly, 2012). The debate on the use of technology within HRM can also be situated within a wider sociological perspective. Whilst the sociological literature appears to focus mainly on the use of technology within manufacturing environments or of computerisation in general as opposed to within the HR function an attempt to situate the effect of technology upon HR could be made in terms of attempting to assess the effect upon the organisation of the function and the impact on the level of skills required. The attempts to understand the impact of technology upon the organisation of work have resulted in divergent views. The debate focuses mainly on two opposing views. The managerialist and essentially optimistic perspective associated with writers such as Blauner (1964) argues that the application of technology will render obsolete routine and more manual jobs and create more skilled and complex opportunities resulting in an overall effect of â€Å"upskilling†, along with organisations characterised by decentralised structures, reduction in hierarchy, increased worker autonomy and a prevalence of knowledge workers (for example, Attewell, 1992; Piore and Sabel, 1984) Such analysis suggests that in the earlier phases of industrialisation advances in technology tended to reduce skills and devalue work but that more recent technological developments have had the opposite effect. Examination of the increasing use of technology and its impact on skills levels has provided some evidence for a raising of skills levels (Daniel, 1987, Gaillie, 1991) In contrast, labour process theorists have argued that technological changes have a degrading effect on work and result in â€Å"deskilling† of the labour process and reduced worker autonomy, with a centralised, neo-Taylorist form of organisation, with separation of conception from execution (for example, Braverman, 1974; Zimbalist, 1979). The issues of the expansion of non-manual work and the apparent rising skills levels as suggested by formal skills gradings are not inconsistent with the labour process perspective (Gaillie, 1991) who argues that non-manual work has undergone a major transformation, r esulting in work that is increasingly routinized and mechanised (supported by the increase in office automation). From such a perspective non-manual workers are no longer accorded their relatively privileged position and are now accorded a similar level of skills as manual workers. Support for the process of deskilling can be found in many analyses of the effects of computerised technology (Meiksins, 1994) Analysis of the experience of employees within the call centre environment emphasises the process of deskilling (Desai, 2010) which is described by Taylor and Bain (1999, p.109) as a situation of â€Å"an assembly-line in the head†. The impacts of such call centre roles are often high turnover rates and high levels of absence (Ackroyd, Gordon-Dseagu and Fairhurst, 2006) and the effect on employees is outlined by Rose and Wright (2005, pp.156-157): â€Å"low skilled call centre jobs allied with high levels of technological and management controls do not contribute towards employee well-being and satisfaction† This account of the impact of technology resonates with the description above of shared service centres whose result has been the deskilling of the administrative function of HR and the recruitment of those who do not have a background in HR (Martin and Reddington, 2009; Reilly, 2000). However, whilst it could be argued that a labour process perspective accounts for the effects of technology on some aspects of the HR function, it does not address the effect on the function as a whole as it does not appear to account for the strategic end of the spectrum, where it seems that business partner roles are accorded status and prestige along with substantially increased salaries (Francis and Reddington, 2006). The role of business partners cannot easily be reconciled with the notion of deskilling. There has been a tendency to view the classification of either upskilling or deskilling as too simplistic and some writers have moved away from this conceptualisation of work by postulating that instead there is an increasing polarisation of the workforce in terms of skill level with at one end, highly skilled workers with high levels of autonomy and at the other end a lower skilled sector characterised by an intensification of work through deskilling and management control (Edw ards, 1979), who can be dispensed if surplus to requirements (Berger and Piore, 1981). This polarisation of the workplace appears to be a better reflection of the changing HR function with the autonomous business partner role, with the accompanying perception of a high level of skill and status at one end of the spectrum and at the opposite end, the shared service centre roles characterised by routine and deskilling. In relation to professional work, there is some argument that professionals have not been adversely affected by computerisation and continue to be accorded high status and prestige (Friedson, 1984, 1986). In contrast, it is argued that technology may have differing effects on professionals, depending on the relative status of the profession and on the status of individuals within the profession (Burris, 1998). It is argued that alongside polarisation of the workplace, there tends to be poorer career prospects for non-expert workers (Baran, 1987; Hodson, 1988) with higher level posts being filled from outwith the organisation (Hodson, 1988; Burris 1983,a,b) This issue within HR is highlighted by Reilly (2000) who suggests that there may be less opportunity for career development if lower level staff do not build the experience that they would gain in more generalist roles in traditional HR functions. As stated earlier, there also appears to be a perception that the higher status business partner roles are at least sometimes being filled not just from outwith the organisation but from outwith the HR profession (Francis and Reddington, 2006). Whilst the issue of the impact of technology upon the HR function appears to have been given little attention within research (Lepak and Snell, 1998; Shrivastava and Shaw, 2003) it would seem that what discussion there has been relates mainly to the promise of technology in transforming the HR function and facilitating a more strategic orientation. The reality of the impact of technology in achieving an impact in operational, relational and transformational areas is much less clear although evidence would suggest that the greatest impact is in achieving operational efficiencies. Alongside the development of the use of technology has been the reorganisation of the HR function. Although there has been little attempt to consider the impact of technology from a sociological perspective, it can be argued that the increasing use of technology, which has been used to support the shared service centre model may be resulting in a deskilling of an element of the HR profession and reducing career development paths for some practitioners. In addition, there appears to be a change in skills viewed as necessary within this function, with a focus on customer service skills as opposed to specialist HR knowledge. In contrast, although the evidence for a transformational impact of technology upon HR is weaker and more contradictory, there would appear to be a perception of a higher status role in the business partner, with accordingly higher remuneration, thus demonstrating a polarisation of the HR function in terms of both skills and status. However, this reorganisation of the HR function and the development of a more strategic orientation, which it is argued can be facilitated by the increasing use of technology, although being seen as having an upskilling effect on those in a more strategic role could be argued as achieving the opposite effect if the result is recruiting from outwith the profession. This could leave HR professionals in a precarious position in terms of career and skill development, which could at least in part be attributed to the effect of technology as without increasingly sophisticated technology the new models of service delivery may not be possible or at least may not be as effective. Whilst, a lack of academic attention to the actual impact of technology on the HR function requires that caution is exercised in drawing conclusions, the tendency to focus on the potential impact of technology could be followed in suggesting that the potential of technology in facilitating the move to a transformation of the HR function may be to tend towards a degradation of the HR profession, with low skilled staff employed in shared service centres and more highly skilled and valued business partners being recruited from outwith the HR profession. However, without significant further research in the area, in particular on the impact of technology and the accompanying change in service delivery models upon the career paths and development opportunities for HR practitioners, this conclusion remains just a potential. References Ackroyd, K., Gordon-Dseagu, V. and Fairhurst, P. (2006) â€Å"Well-being and call centres†, Institute of Employment Studies, Brighton [online]. Available at: http://www.employment-studies.co.uk/pdflibrary/mp69.pdf (Accessed 21st November 2012) Attewell, P. (1992) â€Å"Skill and occupational changes in U.S. manufacturing† in Technology and the future of work, P.S. Adler, New York, Oxford University Press. Baran, B. (1987) â€Å"The technological transformation of white collar work†, in Computer chips and paper clips, vol 2, H. Hartmaan, ed., Washington DC, National Academy Press. Berger, S. and Piore, M. (1981) Dualism and discontinuity in industrial societies, Cambridge, Cambridge University Press. Blauner, R. (1964) Alienation and freedom, Chicago, IL, University Chicago Press Bondarouk, T.V. and Ruel, H.J.M. (2009) â€Å"Electronic human resource management: challenges in the digital era†, The International Journal of Human Resource Management, 20 (3), pp. 505-514. [online]. Available at: http://ezproxy.napier.ac.uk:2343/doi/pdf/10.1080/09585190802707235 (Accessed 10th November 2012) Braverman, H. (1974) Labor and Monopoly Capital, New York, Monthly Review Press Broderick, R. and Boudreau, J.W. (1992) â€Å"Human resource management, information technology and the competitive edge†, Academy of Management Perspectives, 6 (2), pp. 7-17. [online]. Available at: http://ezproxy.napier.ac.uk:2334/docview/210521060/fulltext PDF/13A99A5CA0029773271/6?accountid=16607 (Accessed 21st November 2012) Burbach, R. and Dundon, T. (2005) â€Å"The strategic potential of human resource information systems: Evidence from the Republic of Ireland†, International Employment Relations Review, 11 (1/2), pp. 97-117. [online]. Available at: http://search.informit.com.au/documentSummary;dn=164472644509297;res=IELBUS (Accessed 21st November 2012) Burris, B.H. (1983a) No room at the top, New York, Praeger Burris, B.H. (1998) â€Å"Computerisation of the workplace†, Annual Review of Sociology, 24, pp. 141-157. [online]. Available at: http://ezproxy.napier.ac.uk:2334/docview/199730349/fulltextPDF/13A94B0278177DBCD7E/8?accountid=16607 (Accessed 10th November 2012) CIPD (2005) People management and technology: progress and potential, London, CIPD. CIPD (2007) HR and Technology: beyond delivery, London, CIPD Daniel, W.W. (1987) Workplace industrial relations and technological change, London, Frances Pinter. Dery, K., Grant, D. and Wiblen, S. (2009) Human resource information systems (HRIS): replacing or enhancing HRM, Paper presented at the 15th World Congress of the International Industrial Relations Association. [online] Available at:http://sydney.edu.au/business/__data/assets/pdf_file/0003/72273/IIRA_Dery_et_al_HRIS_Replacing_or_enhancing_HRM_final.pdf (accessed 10th November 2012)

Financial market is important for Savers and Borrowers

Financial market is important for Savers and Borrowers What is financial markets and why it is important for savers and borrowers? Financial market is a system that includes an individuals and institutions, and procedures that together borrowers and savers and it is no matter where is the location between the savers and borrowers. The main role for financial market is to facilitate the funds from the individuals and business that have the majority fund to individuals, business, and governments to fulfill their needs of income. Financial institution is a process that used by organization which providing various types of financial services to their customers. The government authorities has controlled and supervised the institution according to the rules and regulations. Financial institution is giving different type of economic ideas for an organization to carry out their business. Financial institution is an establishment that gives as the financial services. Financial institution based on bank, credit unions, asset management firms and m ore. They are responsible for distributing of the financial resources in a planned way to the potential users. Financial institution can be categorized as Deposit Taking Institutions, Investment Institutions, Pension Providing Institution, Risk Management Institution and more. Financial markets have five type markets their money market, capital market, debt market, equity market and derivative market. Money market is the market that maturities less than one year and provide liquidity to the market place. Capital market is transfer income to the future year, for example home mortgages. Debt market is an financial market for give loans. Equity market is identifying the financial market in which corporate stock are traded. Derivative market is a market the right to sell in the future at a price set today. Their three different ways for transferring capital or fund from savers to borrowers in the financial market their direct transfer of, investment banking house and indirect transfer ( financial intermediaries). This three different way of transferring are taking a major part in the business environment know days for increase the capital of a business or governments to do their project and they will improve their economy of their country. Direct transfer is one of the ways of transferring capital from saver to borrower in the financial market. Direct transfer takes place when an organization sells their goods or bond directly to the savers without going through any other ways of financial institutions. The business gives their securities to the savers and the savers who getting the securities must give the money to the business when the business need. The diagram below is showing the direct transfers process. Direct transfer is giving the borrowers a direct way to get their saver to capital their money in to the borrowers business. In this direct transfer the savers dont have any interrogation from investment banking house or financial intermediaries when they investing their money in to the borrowers business. For an example an organization is willing to start up a new product in their productivity and they dont have much capital to start up the new productivity so the organization will ask the investors or savers to give some funds to start up their new productivity and after they produce their product and they will sail the product. After that they will give the amount that was given by the he savers with the dividend from the profit that the borrower earns according to how much the saver capital in the business. An advantage for direct transfer is the dialing and the transaction will be known by the borrower and the saver. They dont have any interrogation from investment banking house or financial intermediaries so the borrower can get more capital from the saver and for saver he will get more dividend after the borrower gain his profit. The disadvantage for direct transfer is if the borrower is get the money from the saver and the business was faller the saver wont get any money from the borrower because the business is in lost. Or other disadvantage is if the saver gives the money to the borrower and the borrower tack the money and he can cheat the saver. The saver cant get any help from other authorities because they do direct transfer. Investment Banking House is also another way of transferring capital or found from savers to borrower in the financial market. Investment Banking House is underwrite and distributing a new investment security and help the business obtain financial by an organization. The issuance of securities will middleman and facilitates by the underwriter saver. The organization will sells the stock or the bond that they have to the investment bank and the investment bank will sells the same securities to the savers. The diagram below is showing the investment banking house process. Investment banking house is giving the opportunity to the saver to identify which investment is better for them to gain benefits and for borrowers they dont need to worry about finding their saver because the investment banking house will give the investor or saver to the borrower to invest capital to do their business. After the business got the profit the borrower will give the money to the investment banking house and they will give the money to the savers by adding the dividend. And for the investment banking house they will get their income from the both borrower and saver because they are the medal person how identify and give the good borrower for saver and a good saver for the borrower. The advantage for investment banking house is they will identify a good borrower for the saver to invest and they also have more than one investment plane for the savers. For borrowers they dont need to worry about to find their saver because the investment banking house will get the saver for the borrower so the both party will have lesser work compare to direct transfer. The disadvantage is for the investment banking house is if the borrower didnt get the profit from the business so the borrower can give the amount that invest by the saver, so the investment bank house not responsible for that. They wont give any money to the saver. Financial intermediaries Financial intermediaries are the thread way to transferring capital in to financial market. Financial intermediaries specialized financial firm that facilitate the transfer of funds from saver to borrower for a capital for his business. Financial intermediary can identify as a bank. It will create a new financial product to simply transfer money and securities between the borrowers and the savers. The diagram below is showing the financial intermediaries process. The financial intermediaries will tack the capital or fund from the saver who invest to them and they will give their own capital to their borrowers. For example saver give 3milion to the financial intermediaries and the borrower want a capital of 2milion to do his business, so the financial intermediaries will give the lone to the borrower by adding his own inters rate to the borrower. After the business get the profit the borrower will give the money and inters to the financial intermediaries and then the intermediaries will give savers the capital by adding sum inters as a profit for the saver. So the financial intermediaries will get their profit from the inters that they set for the borrower and the give the sum of the inters to his saver. The advantage financial intermediaries are both the saver and the borrower are control by them. They will fix the lone for the borrower and they have the statement of savers ho invest their money to them. Also if the borrower cant give the amo unt that he borrows from them the saver will get his capital. The disadvantage of financial intermediaries it will tack a long term to get the profit for the saver because the intermediaries is using the savers money to give more than one borrower to do their business, so when the borrowers give the money to them then only they can give the hole amount to the saver. Conclusion Financial market is helping the saver and borrower gain more profit. It also helping our country to become stable and giving a good position in economic compare to other country because if savers give more capital to the financial market the can used as a capital for borrowers to do their business to gain more profit to all of them, with this the saver get his profit, the borrower gets is profit, financial market sector can get their profit and the government can improve the economics of the country in higher level. It also give more inters to other country to inverse sum capital or business to improve our standard of life style.