Human Resource Management Strategies

Human Resource Management Strategies Introduction The importance of international human resource management is getting increase everyday as we have globalisation and internationalisation over the world. As a result, numbers of the multinational companies are getting increase. According to Brewster et al. (2007), the multinational companies are increasing and there is economic dominance as 80% of the industrial output for the world is produce by the worlds 1,000 largest companies. Brewster et al. (2007) also mentioned that as the number of multinational company increases, global transferring is increasing such as sending works between team members of the company based everywhere over the world. In addition, through this trend, diversity is increasing within the organisation and the multiculturalism must be carefully considered by the organisation to utilise its human resources effectively in their organisation. The one of crucial role of human resource manager is developing effective human resource management policies and practices for organisation such as recruitment, reward, training, development, flexibility, work-life balance, employee relations and communications (Brewster et al, 2007). However, these policies and practices can be varied between national cultures. Rosenzweig and Nohria (1994) argued that HR is the area of management most likely to be subject to national differences (Cited in Brewster et al, 2007). In these days, many large companies are trying to expand the company from their own country of origin to all over the world. These multinational companies are all facing same issues, which are developing policies and practices for the human resource management in their subsidiary overseas operations. In this paper, as a senior human resource manager of a multinational company in the Great Britain, will be discussed the main factors which will be considered while developing policies and practices for subsidiary in Latin America and also differences of policies and practices between the UK and the Latin America subsidiary operations. Culture Before start its operations, it is crucial that company looks for cultural differences between home and subsidiary countries. Briscoe et al. (2009) defined the culture, Culture is the characteristic way of behaving and believing that a group of people have developed over time and share. Brewster et al. (2007) argued that it is important managers to know how organisation formation and process, leadership idea, human resource practices can be affected by national cultural differences in this borderless world. These differences could make crash when the company start operations in various countries. According to Briscoe et al. (2009), these differences will become striking challenge for the company when people in the company has less knowledge or uncomfortable with these differences. In result, both operations and their human relations within the company will be failed. Briscoe et al. (2009) also added that when company uses their home country practices for activities such as recruiting in their overseas subsidiary, it will lead alienation and lack in trust and could be further more consequences. As many authors and scholars mentioned, it is important to look at the cultural differences between home country, which is the Great Britain, and overseas operations in Latin America. For the point of departure, Elvira and Davilla (2005) recommended to use the Hofstedes research as it is widely known, accepted and used to explore the cultural differences. Briscoe et al. (2009) also mentioned that Hofstede made the first major study and best known of the studies of the differences in national cultures. Hofstede discovered that the cultural differences could be divided and described by four factors: power distance, uncertainty avoidance, individualism, and masculinity (Brewster et al, 2007). Power distance The power distance dimension shows the level of equality within a society. According to Elvira and Davilla (2005), that the larger the power distance, the lesser the equality in a society, and the small the power distance the higher the level of equality in a society. It can be clearly defined that the Latin American countries are highly scored in the Hofstedes power distance index ranking table (Hofstede, 1991 cited in Brewster et al., 2007). According to the Hofstedes ranking table, five of ten countries at the top of table are all Latin American countries; it is Guatemala, Panama, Mexico, Venezuela, and Ecuador. The rest of Latin American countries also highly placed in the ranking table. Lucas et al. (2006) argued that high power distance countries like the Latin American countries, there are strong trend of hierarchical organisations and monocratic leadership. This argument can be proved by Hofstedes mentions, that the high power distance societies are more likely to be centralised and pyramid shape and a lot of superiors existed, large income gap between professions, a large scale of unskilled labours, and a higher respect for office jobs than jobs in manufacturing sector (Hofstede, 1982 cited in Elvira and Davilla, 2005). By contrast, the Great Britain scored low, which is rank 42 in the ranking table with Costa Rica, the one of Latin American countries. Not like the others, Costa Rica has lower power distance in their society. The Great Britain, however, scored low compare to the most of Latin American countries. Lucas et al. (2006) explained that the low power distance countries like the Great Britain mostly have horizontal structures and more democratic style of management. This kind of societies often called as equal society. Uncertainty avoidance Uncertainty avoidance dimension refers to the degree which members of a society desire structures, which has clear rules for appropriate performance (Elvira and Davilla, 2005). Brewster et al. (2007) also argued that the uncertainty avoidance is about the degree, which societies feel threatened by indefinite situations and try to escape ambiguous situations. According to Hofstedes uncertainty avoidance index ranking table (Hofstede, 1991 cited in Brewster et al., 2007), Latin American countries such as Guatemala, Uruguay, Peru, and Chile has highly ranked, which was in the top ten of table. The rest of Latin American countries also have highly ranked in the table. The companies in high uncertainty avoidance countries like Latin American countries, has strong bureaucracies, task-oriented, rules, and job constancy. In result, in Latin American countries, they fight with uncertainty situations through these strong bureaucratic management styles an in addition, Hofstedes mentions can support this argument that they are less willing to make individual or risky decisions, ritualised, and dependent on power to control uncertainty (Hofstede, 1982 cited in Elvira and Davilla, 2005). By contrast, the Great Britain clearly divided into different category from the Latin American countries, which can be seen from the table. They placed in rank 47 in the rank table, which is nearly bottom of table, it means they are totally different from the Latin Americans. Lucas et al. (2006) argued that the companies in the low uncertainty avoidance countries are encouraging more diversification in the views and have more flexible structures. In result, companies in the Great Britain are not relying on the power or others in their organisation to deal with the uncertainty situations, totally opposite from the Latin American. Individualism Individualism is the degree to which people prefer looking after themselves and performing individually rather than group working (Elvira and Davilla, 2005). Great Britain has ranked high in the Hofstedes individualism index ranking table (Hofstede, 1991 cited in Brewster et al., 2007), placed in third place following the USA and Australia. Great Britain is one of the highly individualist cultures in the world. According to Lucas et al. (2006), in highly individualist cultures like Great Britain, people in the society cares themselves and their family, and it is important for them to make achievement for themselves. By contrast, most of Latin American countries has ranked lower in the table, especially, Venezuela, Panama, Ecuador and Guatemala has places at the bottom of table. It means that they are low in individualism, which can be said that they are highly collectivist countries. According to Elvira and Davilla (2005), companies in collectivist countries, they concern individual as well as family welfare and people have a sense of duty and loyalty for the company. Hofstede (1991) argued that there are strong relationship between high power and collectivism. Hofstede added that if people dependent on each other in the group, they usually dependent on power distance figures. However, Hofstede explained that there are exceptions, for instance, France, which has high power distance with strong individualism (Hofstede, 1991 cited in Brewster et al, 2007). Masculinity Masculinity is the opposite of femininity (Lucas et al., 2006). According to Brewster et al. (2007), masculinity measures the extent to which the dominant values are male, such as assertiveness, the acquisition of money and goods, and not caring for others. Elvira and Davilla (2005) also argued that these values are related to the social role of men overcome other values like life quality, human relations, service, caring for the weak and goals related with womens roles. According to Hofstedes masculinity ranking table (Hofstede, 1991 cited in Brewster et al., 2007), Latin American countries has a dispersed scale of highs and lows. Venezuela, Mexico and Colombia highly ranked in the table, which is in the top eleven, however, Costa Rica and Chile ranked nearly bottom of table while the others are placed in the middle of table. Great Britain also expressed moderate value in the table; ranked at the ninth, which can be said it is a bit highly masculinity culture. Policies and practices So far, discussion of the cultural differences between home and overseas operations has been made. Theories and analyses of cultures and cultural differences are clearly studied and it will lead to help on developing the companys policies and practices in Latin America. However, in advance, defining and studying of the general policies and practices in Latin America will make this development further forward. Elvira and Davilla (2005) argued, at present, human resource management policies and practices in Latin America are mostly influenced by dominant global theories or imported practices from foreign countries. In result, these imported policies and practices are often cause failure when they implementing on their original plan. Montano (1991) also argued that these policies and practices would not fit to the general Latin American workers (Montano, 1991 cited in Elvira and Davilla, 2005) Another trends in Latin American countries are, that there are strict manufacturing processes and management control systems that stop workers development by reducing their decision making rights. In addition, there is an informal structure that symbolically compensate is going on for the impersonality of firm bureaucracies (Elvira and Davilla, 2005). Montano argued that theories are not needed to control the Latin American workers, while informal structure exist, Latin American companies will staying at the market (Montano, 1991 cited in Elvira and Davilla, 2005). Recruiting, staffing promotion In Latin America countries, recruiting is normally based on personality characters and physical characteristics (Elvira and Davilla, 2005). Abarca et al. (1998) highlighted, in Chilean companies, it is crucial that they primarily consider the physical characteristics such as appearance, age, and gender for selecting managerial staffs. In addition, it is vital to have good relationship with rich families, colleagues, or geographical bonds because it is most effective way to be promoted in the company hierarchies rather than their talent and ability (Abarca et al., 1998 cited in Elvira and Davilla, 2005). Husted and Serrano (2002) also argued that many companies in Latin America have been run as family business for several generations (Husted and Serrano, 2002 cited in Elvira and Davilla, 2005). In result, labour markets are small in Latin American countries and it means that people finds difficult to find jobs. As mentioned earlier in the precious section, about the Masculinity, quite many Latin American countries seem as high masculinity society and this fact is partially supported by Elvira and Davilla (2005) as they mentioned that women in Latin American countries are mainly works in manufacturing sector rather than authority positions because of few reasons and the one is companies in Latin America has negative attitude toward women in authority roles. Reward recognition It is crucial to develop motivation schemes for workers in the company to utilise their ability well. Before actually build the motivation scheme, it is important to consider the meaning of work for them. According to Elvira and Davilla (2005), in Latin America, family is central in workers lives. Generally, important aim for work is seen as to provide high life quality for the workers family. For this reason, companies in Latin America try to provide support and benefirs for workers family. According to Elvira and Davilla (2005), companies in Latin America provide health care, scholarships, support for purchasing education materials, and mortgage credit. Due to a family-oriented culture in Latin America, companies are never giving up thinking motivation schemes for workers as well as families. Elvira and Davilla (2005) also mentioned that many companies in Latin America hold many family events such as yearly family-day visits to the company, organise picnics, many different parties for the family, celebrate Mothers Day and Childrens Day, and offering some training courses as well. Training development Wilkens and Pawlowsky (1997) reported that 90 percent of the workers in an assembly plant in Mexico were unskilled or at most semi-technically skilled. This is due to lack of investment on training programmes by companies (Wilkens and Pawlowsky, 1997 cited in Elvira and Davilla, 2005). Chantell et al. (1999) and Lawrence and Lewis (1993) also argued that it is serious problem for Mexican workers that they have shortage of knowledge, education, and analytical and communication skills. Because this shortage delays the functioning of management practices, for instance, Just-In-Time production systems (Chantell et al., 1999 and Lawrence and Lewis, 1993 cited in Elvira and Davilla, 2005) The companies consider training the workers in modern management practices, however, they know that not all practices would match which local characteristics and some might be refused by workers or could be modified according to the Latin Americans style and experience (Chantell et al., 1999 and Sargent and Mattews, 1998 cited in Elvira and Davilla, 2005). Peterson et al. (2003) found the good example of training that US subsidiary taught Mexican employee to express their opinion at the company because they use to have fear of being sanctioned (Peterson et al., 2003 cited in Elvira and Davilla, 2005). Relations communications The information or communications flows mostly from top to bottom, as there are hierarchy and vertical structures at the companies in Latin America. There are often communication barriers exists for managers as Latin American managers prefer and favoured centralisation preferences (Wilkens and Pawlowsky, 1997 cited in Elvira and Davilla, 2005). The companies in Latin America, they consider personal contact vey seriously as they importantly consider the harmony and good labour climate. Elvira and Davilla (2005) argued, Social interaction and friendship are important conditions for good and stable labour relations here. Thus, someone who is courtesy and diplomacy can be highly valued. Conclusion To develop the human resource management policies and practices, it is crucial that we clearly define the cultures of the home and subsidiary countries as well as cultures of the company. Defining is not just enough to be success. The company needs to find out best matches of policies and practices for both subsidiary and company itself. In other word, we need the policies and practice, which can make both subsidiary and company in home country happy about it. There are often big difference between national cultures and company cultures. It is not great idea company to push their subsidiary to adapt original company culture and also conversely, it is also not great idea company to adapt whole culture of the subsidiary country. The headquarter might seriously consider the various different types of approaches that it mentioned earlier in this paper such as ethnocentric, polycentric, geocentric, or regiocentric. Based on research, company could decide which approach is the best answer for them. The best-known culture of Latin America is the paternalism management, in other word, family style of management. Each members of company are dependent on each other, cares each other and they higher valued for group loyalty. This is what we dont have in the home country in Great Britain. The company can utilise this advantage culture with what they are good at. However, company also need carefully consider about employees priorities such as family-oriented living or religiosity. It might be a too obvious suggestions, however, it is crucial to clarify what is good about Latin American culture and also same for companys culture and should be well mixed them to make synergy effect. There is no one best answer, however, at least this study found reasonably good answer based upon research and analysis. Human Resource Management Strategies Human Resource Management Strategies It is very difficult to define Human Management Resources. This term basically work with in two different approach. It is used to explain the body of management movements covered in books as a one way and other way it is a term equally and extensively used to contribute meticulous loom to the managing persons which is obviously diverse from the first aspect i.e. of personnel management. Armstrong, 2007 Aims of HRM: The main and the primary aim of the human resource management is to achieve the sucsess in organization by the pople. According to Ulrich and Lake (1990), HRM systems can be the roots of organizational potentialities that allow firm to learn and capitalize on new chances. Armstrong, 2007 Introduction How well did your manager manage your stress? The basic and the important task of the Human Resource Management is to manage the employees and get the work done properly by satisfying the employees by giving them bonus or some kind of awards if they are working good for the company and in short we can say that company should give rewards to the employees which are working hard and should give something in returns to the employees so they will be more interested in the working of the company. Basically the topic says that how manager manage your stress. That clearly means that manager is the person who is answerable to the head persons for the work and task been performed. Thus manager is the person who will manage everything and make sure that the work is been done on time and with the perfection. Thus manager manage stress by giving him/her extra complements about the work and will give a good feedback to the head persons which will give rise to the extra bonus and rewards to the particular person. Atkinson, William. Electric Light Power, Vol. 82. Zofi, Yael Sara, For the Continuing Care Professional, Vol. 58 Ross, Judith A., Harvard Management Update, Apr2009. Specific HR Strategies: The specific HR strategies set out what the organization intends to do in areas such as: Continuous improvement Providing for continuous and focused incremental innovation sustained over a period of time. Talent management How exactly the firm intends to win the war of talent. Resourcing Retaining and attracting high-quality people. Knowledge management Capturing, creating, sharing, acquiring and using instruction to improve the performance and learning. Reward There should be a perfect goal of the organization that what organization need to do in the longterm implement and develop the reward policies, processes and practices will help the further accomplishments of the business objectives and needs of stakeholders. Learning and developing The employees should be encouraged to develop and learn by providing them such an environment. Employee relations Determine the aim of the organization about the basic requirement that they want to achieve i.e. which they want to get it done and what are the needs that are to be distorted in the traditions in which the business runs its connection with employees and their trade unions. Susman. Broker Magazine, Jun/Jul2004. Miller, Jeffrey. Insurance Advocate, 3/10/2008. Lacey, Holda. Travel Trade Gazette UK Ireland, 6/10/2005. Bolton, Brian. Personnel Psychology, Spring80, Vol. 33. Let us take an example to understand it more clearly; here we will focus on the current stress management system employed by KFC and its analysis. KFC hasnt employed any particular system to monitor stresses of their employees but they are compliant to the local labor and health safety law. This permits them to discount their stress management system. As compliance with those laws make them to stop doing any unethical and unlawful activities. There are other issues which are also related to stress management this things are not part of any law but these are the management practice by the KFC authority. These are presented below: Employees are allowed to take leave in case of stress related physical disorders and this leave are on payment. In case of burglary or something unwanted on the work place which can cause stress on their employees mind they send them to leave on  payment. They solve other minor stress related issues by counseling the problem and supporting morally or physically whichever is needed or both (varies to demand of the situation). As these topics indicate that they are protected by the law mentions above which gives a substantial protection against stress. And this also allows KFC to maintain good level of satisfaction. In spite of not having a proper stress management system but complying with these laws control the stress at workplaces. How well did your manager manage your stress? The manager is a person in the job unit who takes all my stress away as when I have a stress of going college he is the person who manages my job properly and give me an alternative way. The manager is a person whom you can directly approach and who is answerable to the employees and the head authorities as well. Manager at the market place has all the authority to do but he always does the thing which will give the maximum benefit to the company and will give up maximum to the organization as if organization gets good profit than obviously that manager will get a reward out of it and will probably get a promotion as well. The manager is a person who manages the employees stress at the work place as well. There are so many kind of stress seen at the work place like too much work, sometimes have to work overtime, sometime the target is very high to achieve. Thus this are the ways to be taken into consideration by the manager at the workplace as the manager wants to decrease the stress of the employee on the workplace. The stress is reduced by the manager to get the accuracy in the work and to get the things done with perfection. The stress on the employee makes the employee to work less and because of this the work done will never be perfect because while doing the work attention is very necessary to be kept in doing things properly. The manager manage the stress and give bonus or rewards to the employees at times so that the employees are happy and do the work with which the company gets the best work done and because of that again the employees will be eligible to get the bonus out of it. Stress is the most common word in todays life as plenty of people like us great effort at get their work life balanced. This is a so called fact that stress has sometimes a contrary effect on the employees commitment to work, staff turnover, staff work and productivity, attendance levels, as well as on customer satisfaction and organizational image and reputation. Managers job is to manage the things going in the business and manage the whole staff and also supervise the whole floor to get the perfect accuracy in work. The people are sometime told to work more to get the work done but due to that also the employee feel stressed because of the hard professional life so this is to be taken into control to avoid the problems taking place in the future in the business unit. Middleton, Gemma. Accountancy Ireland, Apr2008. Donaldson-Feilder, Emma, Strategic HR Review, 2008. Noer, David. BusinessWeek Online, 7/27/2009. Urwin, Tony. Occupational Health, Aug2006. Guld, Michael. Supervision, Oct2008. Some of the present information about KFC regarding Stress Management is as follows: There are stressors which are common in nature as other organizations. These stressors mainly transfuse the stress into the employees of KFC. Among those stressors some of them very highly influence some varies from moderate to low degree influence. Other insignificant stressors are not considered for the simplicity if the model. There are also existing relations between the stressors which increase the complexity of the model. As task demand highly influence the role demand of a job and both of them are a stressor of KFC so this interdependence also plays a great role in determining the stress. Level of Stress: a) High High level of stress has been created by the task demand, temperature of the kitchen and nationality. It is seen in the survey that all the respondents give emphasis on the task demand as it puts a lot of pressure on them. Temperature is an issue when it is a rush time and kitchen are very busy at that time some of employees feel stress working in the kitchen and nationality plays a part as many of the migrant people work in KFC and in this study 2 of them are surveyed and it is found that there tolerance level to bear the stress is quite low than the British employees. b) Moderate Among Moderate level of influencer role demand space and sex of the employees are prominent. As role demand can create confusion which leads to the work place stress it is marked as moderate level of stressors for KFCs case and outcome of the survey and observation also supports this classification. Sex has been classified as moderate level of stressors as it is seen that male employees are more vulnerable to stress than the female employees. And also space is a factor which can create stress employees can feel suffocating working in a congested space. c) Low Noise and age are the two low level stressors. Age is an issue which can influence the level of stress in KFCs work place. Employees with lesser age like teen feel much stress than middle aged employees. And noise plays a very little role in altering the level of stress at existing workplace. Conclusion: From the above all discussion we can clearly conclude that there are basically four aspect of four kinds of stress that is to be controlled by the manager at the work place when the employees are stressed by work, mentally, physically, behavioral and cognitive. The stress is to be control to keep the business running smooth and perfect. Thus in short we can say that the stress factor is always to be kept in control by the manager for the smooth working of the organisation and the employees should have the bonus and rewards at times so that the employees remains stress free while working and do the maximum they can do. Thus this are all the aspect which is been controlled by the manager on the work place and keep the business running smoothly and accurately as well. Task 3 Introduction Defination of HR Scorecard: The measurement tool of measuring the performance and the offering of the human resource management practices to the financial performance of the organization is known as HR Scorecard. Bryan E. Becker Mark A. was the developer of HR Scorecard, which was presented in the books by Huselid and Dave Ulrich. The HR Scorecard basically keeps a eye on the human resource management practices as a strategic asset and provides a perfect road map of six steps which is designed to help the organizations integrate human resource systems with organizational strategy. Becker, Huselid and Ulrich, 2001. Rhodes, Jo; Walsh, Paul, International Journal of Human Resource Management, Jun2008. The 7 Stages in using HR Scorecard approach: There are basically seven steps which covers the HR Scorecard approach to get the strategic results oriented in the HR Systems. Defining the Business Strategy: The HR system starts from the basic decision called the business strategy, which will figure out the business plans of the business unit according to which the business is going to run and in accordance to which the task will be taking place. Outline the Companys Value Chain: To calculate the Value chain of the company and to achieve the business goals of the company the business should be basically engaged in certain strategically required activities. To achieve the goals and everything which is been decided by the business to achieve can be very much useful with the value chain analysis. Identifying the Strategically required Organizational Outcomes: There are strategic goals that are to be achieved by any of the organization and to identify the strategic goals perfectly and go accordingly is the organizational outcomes. Every company must produce critical, strategically relevant outcomes if it is to achieve its strategy. Identifying the required workforce competencies and behaviors: There are some of the HR experts, who refer to the required, and the necessary workforce competencies and behaviors like these as HR deliverables. The behaviors and the competencies such as working proactively, courteous behavior, personal accountability, commitment and motivation produce strategically relevant organizational outcomes, and thereby drive organizational performance. Identify the Strategically relevant HR Systems Policies: If it comes to the mind of the HR manager and he/she knows that how actually what is required from the employees competencies and the behaviors are than he or she can turn to the task of identifying the HR activities and policies that will help to produce tese competencies and behaviors. Design the HR Scorecard Measurement system: After getting the outcomes from the strategic role done and after completion of the final strategically required organizational outcomes and the employee competencies and behaviors, and specific HR system policies and activities the question is how exactly we should measure them all. And thus for this reason the HR scorecard is proved to be very crucial in this kind of measurement process. Periodically Evaluate the Measurement System: There are no such assumptions which should take place like the HR Scorecards diffirent propotion and attachment will always stay the same. In fact reducing grievances is not having the assumed affect on raising morale. Desseler, 2005. Walker, Garrett, Human Resource Management, Winter2001 Hagood, Wesley O., Public Personnel Management, Winter2002 Becker, Ulrich, Dave. Harvard Business School Press Books, Jan2001 Human Resources Department Management Report, Jan2003. Benefits of HR Scorecard: Basically in the construction taking place for HR Scorecard, avoid the temptation to merely fill in the boxes. The key questions for this are like what would you like this tool to do for you? Or, in another way we can say like how would you like managers outside of HR to think about your measures? Thus we believe that the scorecard will offer the following benefits: It reinforces the refinemnt between the HR deliverables and the HR doables. The deliverables which influences the strategy implementation and the doables which does not. It enables you to create value and control costs. The work of HR is always to keep a cost under control and at the same time serving in the strategic role means that HR must also create the value. Thus the HR scorecard is usefull to human resource managers to efficient balance those two goals. It assesses HRs contribution to strategy implementation and, ultimately, to the bottom line. The performance which is measured should be provided to the Chief HR Officer with the answer of the questions. The HRs contribution in the firms performance is the cumulative effect of the scorecards HR deliverable measure should provide that answer. It lets HR professionals effectively manage their strategic responsibilities. The HR Scorecard clearly gives the full view of the performance to the HR managers and with this they can focus that how exactly their decision affect to the successful implementation of the firms strategy. It encourages flexibility and change. The basic problem of the performance measurement is that they become institutionalized and actually inhibit change. In fact one criticism of management by measurement is that people become skilled at achieving the required numbers in the old system and are reluctant to change their management approach when shifting conditions demand it. Becker, Brian E, Richard W., Harvard Business School Press Books, Jan 01, 2005. Ulrich, Dave. Human Resource Management, Fall97. Singh, Kuldeep. IIMB Management Review (Indian Institute of Management Bangalore), Jun2005. Here, we will take an example of Tesco; we will see how the Tesco is following the various strategies to sustain its employees as well as the customers. Let us see the activity plans in Tesco; Provides tools for highly structured monitoring and evaluation of training development: Specific define actually what needs to do. Measurable has a object that can be measured contrary. Achievable is possible within the trainees current role, skills and experience. Realistic is achievable within the time and resources available. Time framed has a clear deadline. Tesco also uses a method 360-degree appraisal. All stake holders have contact with the employee, assess the persons performance and give feedback. For e.g.: a store departmental manager may get feedback from their manager, other dept managers, the HR department and their team. Helps to identify areas that may require further development. Tesco does casuall approach asking the employees to write down: 3 things that they are good   3 things where they could do better. Managers and trainees hold: Formal four weekly review sessions. A weekly informal review session. Conclusion: The HR scorecard has particularly seven stages and in which all the HR scorecard is maintained from the planning stage till the final sales. The HR scorecard is very necessary to get the exact figure and to get the exact outcome of the business unit. It gives the clear picture of the business and from which the HR manager can see that how accurately the business is going and find out all the details out of that. The scorecard maintained does not carry the exact outcomes but it gives the relevant outcome with which the HR manager can know that how the business in running and what need the changes and about the perfection of the business and the performance of the different employees as well. The employees contribution is also recorded in the HR Scorecard. HR scorecard gives the details of the employees in detail about their progress and their work efficiency and also how much they are been paid. Thus in short we can say that the HR Scorecard gives the every important detail about the employees of the company and also gives up the progress and the contribution of the employees.

Abortion and the Importance of Religion :: Papers

Abortion and the Importance of Religion There is a negative relationship between support for abortion and the importance of religion, while controlling party affiliation. Among males, there is a negative relationship between support for abortion and the importance of religion. Among females, there is a negative relationship between support for abortion and the importance of religion. A person’s religious background greatly influences whether or not they support abortion. When religion plays an important role in someone’s life, they are less likely to support abortion. Most religions strongly disapprove of the taking of someone’s life. They consider it one of the highest sins a human can commit. They believe that abortion is considered murder because even a fetus has a spirit so it shall be considered a living human. When religion plays a less important role in a person’s life, they are more likely to support abortion. These people are more likely to consider reasons for the abortion rather than never permitting it. These people tend to look at the women and why she is requesting the abortion. They are less likely to consider a fetus a living being until it is born. The first hypothesis indicates that the higher the importance of religion is to a person the less supportive they would be of abortion, with regards to that persons political party affiliation. The party in which a person identifies with will have a direct effect on the link between support for abortion and the importance of religion. Political parties, as well as a persons religious background, play a major role in attitudes towards different issues. By nature, democrats are more likely to approve abortion than republicans. A person’s religious background usually has an effect on which party they associate themselves with. Therefore, there must be a link between a person’s party affiliation, religious background, and their support of abortion. The second and third hypotheses indicate that gender has an effect on support for abortion based on their religious beliefs. I believe that men are less likely to approve abortion than women because of the women’s’ movement that has been going on for years. Many women are more apt to approve of the idea of pro-choice. They want to decide what is best for them, not some politician in Washington, D.C. A 90’s women is more independent than say a 50’s women. They are battling for women’s rights. Abortion is a very controversial issue which directly effects women’s rights. I believe that

Organizational Development and Leadership Program Essay -- theory of ch

The journey of Gestalt consulting proved to be very insightful and enlightening. I initially worried that I would not be able to apply the Gestalt style of learning to my professional repertoire within organizational development (OD). However, the outcome was the exact opposite and Gestalt has truly been a useful OD tool acquired. What astounded me most was the chemistry and relevance to the skill that I was motivated to strengthen the most which is use of self. Concepts such as the paradoxical theory of change, cycle of experience, developing themes and polarities, and the unit of work all incorporate the use of self as a sufficient way of paying attention to and selectively sharing observations about what is happening in another person, a group, and an organization. Additionally these concepts were used to illuminate the path through resistance. According to Carlson and Sklarew (1995), â€Å"work is grounded in a whole system and multiple levels of system perspective, paradoxical theory of change, and an appreciation for the power of phenomenological experience.† (p. 3). During the class sessions we were introduced to the levels of system perspective. These include: intrapersonal, interpersonal, dyad or triad, and group level. These levels are defined by their boundaries. For example, the boundary in an interpersonal system is an individual exchanging with another individual and it is essential to note the exchange between the two. In my first case study I was able to illustrate the level of the system I observed which was an interpersonal system between me and my colleague, Angelo Martez. A boundary existed between he and I and communication was proven to be essential to make the exchange. Carlson and Sklarew (1995) also state that... ...tion itself. The most significant observation of gestalt consulting to me is that the process allows and requires both sides of the brain to be used. Observations can be intellectually made and interpreted, however those observations can be furthermore illustrated creatively to provide a visualize representation. Perhaps there can be a polarity framed in reference to my learning journey through gestalt: â€Å"I observe that through my learning I was able to combine intellect with creativity just as two irrelevant colors can combine to introduce a beautiful new color. Works Cited Nevis, E. C. (1987). Organizational Consulting: A Gestalt Approach. New York, NY: Gardner Press Sklarew, N. & Carlson. (1995). ODL 530G: Gestalt Consulting Skills. [Class handout]. Organizational Development and Leadership Program, Philadelphia College of Osteopathic Medicine. Georgia, USA.

Joy Kogawas Obasan Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  I decided to read the novel by Joy Kogawa entitled Obasan. The novel was written in 1981 and told the details of how the Japanese were discriminated against during World War 2. The author's main purpose was to educated the reader on how hard life really was for her family and other Japanese Canadians living in British Columbia, and especially in Vancouver. Joy Kogawa tried to show how ignorant British Columbians really were, and that we still do not fully understand what really happened during the war. She also tries to teach Canadians the culture of the Japanese.   Ã‚  Ã‚  Ã‚  Ã‚  The novel starts in the seventies with Naomi a teacher in Northern Alberta finding out that her uncle has died. When Naomi returns home to console her Aunt Obasan, she begins to relive the difficulties of her life. She recounts the struggle against the government and themselves while trying to stay in Vancouver. Naomi is very small at the time of the war and did not really fully understand what was happening to her race. The novel recounts the struggle of Naomi's Aunt Emily to ensure that her family would be together in whatever place they were sent to. Aunt Emily wanted to head east to Toronto, but was unable to get the documentation for the entire family which included her sister children, who she was taking care of. The novel discuses the camps that the Japanese families were sent to in Hastings Park during the ...

Dionysus :: Ancient Rome Roman History

Dionysus Dionysus, also known by his Roman name Bacchus, which he appears to have two different origins. Dionysus was the god of wine, agriculture and fertility of nature, but on the other hand he also represents the mystery in religions. Scholars believe that this god came about later in pre-history, unlike other gods. Almost all barbarian nations had their own versions of Dionysus under many names such as, Bacchus, Zagreus, Sabazius, Adonis, Antheus, Zalmoxis, Pentheus, Pan, Liber Pater, or simply "the liberator." His symbol was the thyrsus, (which is a staff tipped with a pinecone, sometimes with ivy leaves) Dionysus was born of fire, he was good and gentle to those who honored him, but he also brought madness and destruction to those who ignored him or the rituals of his cult. "One day, Zeus was traveling on Earth. He wore a disguise; because undisguised no mortal could look at him and live. He came to Thebes, and Ancient City of Greece where he fell in love with Semele, the daughter of King Cadmus. Their love was immense, and before they knew she became pregnant. Semele wanted nothing else but to look into the eyes of her true love. Her nurse, who happened to be the disloyal Hera in disguise, influenced her cruelly. Semele could not stand it any longer and finally, she asked Zeus to give her a good fortune. He was deeply in love with the young women and did anything she pleased. He swore an unbreakable promise on the river Styx that she could have anything she wished for. Meaning no harm, Semele asked to see the god of thunderbolt, Zeus was frightened. He knew that this would mean her guaranteed death. "NO" he cried in torment. "Anything but that. You do not know what you're asking for." She insisted and Zeus miserably kept his word and granted her wish. As he reveled his burning appearance, the unlucky Semele was almost completely destroyed by the fire, except her womb, which she had wrapped with some ivy. Zeus was angry, he quickly took the fetus from the womb, cut open his own thigh, and put the child into it. The child continued to grow in Zeus's thigh, when development in the womb was complete, Zeus gave birth to the baby, Dionysus. The child of fire had been born with a brand new force to be discovered.

Packaging and the Environment

Packaging and the Environment The growing of the packaging industry is one of the phenomena of the 20 first century. Most people would non oppugn the necessity of packaging in our civilization both domestically and globally. It is perfectly indispensable for the distribution of trade goods and peculiarly for the retail of nutrient and other perishable points. There has been an increasing consciousness and concern about packaging in that the theoretical account of â€Å"use one time and throw away† puts a big load on the environment. Plastic has been the focal point of the attending. Paper merchandises really rapidly go wet and contract and quickly biodegrade to go portion of the natural environment. Tin home base rusts quickly and glass bottles are broken. Plastics do none of these things. They retain their form, composing and visual aspect for a really long clip, and when it is considered that a one pint polythene bottle weighs less than one ten percent of the weight of a glass bottle, the ground for the hapless image of plastics boxing as a constituent of litter is evident. ( Scott, pg. 189 ) In the first topographic point, the cost of plastics has been increasing at a slower rate than that of paper, tin-plate and glass in recent old ages. Second, plastics have certain built-in proficient advantages over the traditional options. They are really much lighter than glass and metals. Unlike paper, they do non absorb H2O, and since wet opposition is indispensable in nutrient packaging both to incorporate the nutrient and to defy bacterial taint from outside the bundle they have an overpowering advantage over paper. This advantage, coupled with the escalating monetary value of wood mush for paper, has led to a steady replacing of paper. ( 190 ) The packaging industry is an recognized facet of modern society and reflects the manner in which personal goods and belongings are looked upon as progressively disposable. This sentiment is a common subject which runs through all facets of the environment. A civilization born and raised in metropolitan countries, is non linked to nature or the environment. Their nutrient comes in a can, bag, bottle, or plastic wrap. The waste goes into bins that are emptied on a hebdomadal footing. Out of sight out of head, and the one manner disposal theoretical account continues. Many communities are mandating recycling as a manner to coerce decreases in solid waste. As the recycling industry grows, boxing interior decorators will necessitate to take recycling concerns into history. Harmonizing to Dr. Susan Selke, a packaging professor at Michigan State University, planing reclaimable bundles will cut down the solid waste disposal burden â€Å" provided a recycling system is in topographic point and the bundles enter the system. † With the important growing in recycling across the United States, guaranting that bundles can be recycled expeditiously and economically is paramount. ( Stana pg.18 ) Industry is faced with doing bundles that fit modern American life styles bundles that offer convenience and easiness of usage for all people every bit good as protect the merchandises. Packagers are committed to equilibrating these economic and societal considerations with environmental issues to bring forth bundles that meet the usage and disposal demands of s ociety. ( pg.19 ) And therein lies the job. Boxing fills trash containers and landfills, enduring far longer than the merchandises it was made to incorporate. It consumes natural resources. And it can besides reassign chemicals into our nutrient, with unknown wellness consequence. ( Claudio, pg. A233 ) If environmental harm is inordinate from the waste of packaging, the best solution is to beef up environmental ordinances regulating the extraction and production of the natural stuffs needed to do the packaging. ( Dewees, pg. 458 ) There is besides what is called User-Pay policies. User-pay policies require families to pay for each bag or can of waste collected, typically one dollar per bag. Paying per unit provides inducements to minimise packaging purchased, to divide recyclables for aggregation, and to minimise waste volumes in general. User-pay policies have by and large been implemented in communities that already have a curbside reclaimable aggregation plan. Empirical surveies of the experience with such plans finds that waste aggregation is reduced by between 14 per centum and 47 per centum. ( pg. 462 ) The costs of curbside recycling plans vary well among legal powers and over clip. This suggests that policy should non oblige curbside recycling in all topographic points and at all times. Again, flexible policies that encourage recycling when its benefits are high and its costs are low would be efficient. ( pg. 467 ) Since packaging is on a planetary graduated table, it would be prudent to look at policy outside of the United States. The German Waste Disposal Law is non merely really luxuriant, but besides instead complicated. A huge sum of statute law has been enacted at national, regional and local degrees, and an huge volume of proficient regulations and ordinances have been introduced, all of which purpose to guarantee that waste disposal and the recycling of used objects are non damaging to the general public assistance. ( Weidemann, pg. 1135 ) Trade and industry are now called upon to â€Å" change by reversal the concatenation of idea † . Packaging should be re-usable, every bit lasting as possible and the stuffs used should be suited for recycling. The decisive instrument for the enforcement of this doctrine is the duty to take back packaging, which the Regulation imposes throughout trades and industries. Taking the Regulation as a theoretical account, the German Minister for the E nvironment plans to publish similar ordinances for farther merchandises. The undermentioned ordinances are in readying: Regulation for the Avoidance and Recycling of Waste from Printed Materials, Regulation for the Avoidance and Recycling of Waste from the Disposal of Vehicles ; Regulation to Guarantee the Introduction and Extension of Returnable Beverage Container Systems ; Regulation for the Avoidance, Reduction and Recycling of Waste from Used Electrical and Electronic Equipment, Regulation for the Disposal of Construction Materials ; Regulation for the Disposal of Boxing incorporating Residues of Noxious Filling Substances ; Regulation for the Disposal of Used Batteries. ( pg. 1137 ) The United States could afford to take a expression at such rigorous policies. There are besides biodegradable options to conventional plastics. Presently the costs of bioplastic polymers are still much higher than that of mainstream plastic opposite number nevertheless, the impacts of biodegradable bioplastics, when come ining the waste watercourse and handled by landfill, recycling, and incineration, enable a possible option for waste intervention through composting as a manner to retrieve the stuffs and to bring forth compost as a utile merchandise. ( Davies, pg. 2129 ) Unlike conventional petrochemical-based polymers, biodegradable and compostable bioplastic polymers can be composted. Making or naming a merchandise biodegradable has no built-in value if the merchandise, after usage by the client, does non stop up in a waste direction system that uses the biodegradability characteristic. ( pg. 2131 ) It is clear from research done that several biodegradable packaging stuffs can be processed in place composting systems and output compost stuffs suited for wor ks growing. This capableness will enable such stuffs to be disposed of in well-run place composting systems and consequence in waste recreation from municipal waste watercourse. ( pg. 2137 ) Bioplastic polymers have great possible to lend to material recovery, cut down the usage of landfills and usage of renewable resources. Widespread public consciousness of these stuffs and effectual substructure for rigorous control of enfranchisement, aggregation, separation and composting will be important to obtaining these benefits in full. ( pg. 2138 ) In sum-up, recycling is one scheme for end-of-life waste direction of plastic merchandises. It makes increasing sense economically every bit good as environmentally and recent tendencies demonstrate a significant addition in the rate of recovery and recycling of plastic wastes. These tendencies are likely to go on, but some important challenges still exist from both technological factors and from economic or societal behaviour issues associati ng to the aggregation of reclaimable wastes, and permutation for virgin stuff. Though developments at an international and national degree are driving a civilization alteration towards more sustainable direction of waste in concern, it is the enterprises being implemented at a local degree which are ensuing in the most direct impact. ( Hopewell, pg. 2124 ) It is the concern advantage to be gained from effectual waste direction which is possibly the strongest driving force of all. ( Cain, pg. 1430 ) With the coming of â€Å"green† consumerism, concern behaviour forms look set to alter, as over-packaged goods are boycotted and composting enjoys a resurgence. ( pg. 1435 ) Though developments at an international and national degree are driving a civilization alteration towards more sustainable direction of waste in concern, it is the enterprises being implemented at a local degree which are ensuing in the most direct impact. ( Hopewell, pg. 2124 ) Communities are progressively turning to local environmental establishments ( LEIs ) to turn to unmet environmental challenges. This impulse toward place-based solutions and the creative activity of LEIs is fueled by the desire to do environmental policy more antiphonal to local values and involvements and to travel off from â€Å" one-size-fits-all † environmental plans crafted by distant authorities bureaus. ( Konsiky, pg. 3 ) When it comes to packaging, local communities can instantly make up one's mind what is best for their localised environment. Normally this far exceeds the capacity of a authorities which has no cognition of the local environment or resources. In the 1960’s Sweden had tur ning environmental concern. At the clip different bureaus handled different facets of the environmental issue with really limited powers, since the power to make up one's mind on those affairs rested with the Cabinet or with the County Administration. Their resources were besides really limited. The Governmental Principal Proposal on the Environment of 1965 marked the beginning of a new, integrative stage in Swedish environmental policy. It was the beginning of an incorporate policy. What followed is considered the nidation stage. In 1967, an incorporate administrative organic structure was established. It covered the Fieldss of nature conservancy, H2O and air protection, out-of-door diversion and the protection of wildlife. ( Lundqvist, pg. 95 ) The tendency now is toward the establishing of an increasing figure of demands that make it necessary for fouling industries to take appropriate steps for the protection of the environment. The bureaucratism and the deficiency of communicat ing between bureaus has been cut to a bare minimal ensuing in more immediate action towards environmental concerns. The displacement of focal point demands to be less on packaging and more on policy. Policy is what will do alterations in packaging waste. Presently, political urgency of environmental reform may be weakening. Public support for environmental ordinance remains high, but environmental policy suffers from the ups and downs of the issue attending rhythm. This may merely be a job in a media-controlled society like the United States. But, at least at that place, it undermines the demand for consistent and uninterrupted attending to public policy issues that is indispensable for serious determination devising. ( Mandelker, pg. 108 ) Mandelker continues, the general populace supports environmental reform because it believes it will get away the load of conformity but participate in the distribution of benefits. In short, the public expects a free drive. This does non ever go on, and public support for environmental steps disappears when the true allotment of benefits and loads becomes evide nt. For illustration, in 1970 public resistance Clean Air Act arose when other costs which the Act imposed became evident. Congress was cognizant that effectual control of car pollution would necessitate alterations in transit wonts every bit good as bounds on car pollution. The public doesn’t want to be inconvenienced. They are excessively disconnected from the environment. We all want a clean environment because that is the right thing to make. When it comes down to taking an easy life style, or a clean environment, the populace will take the easy path. One ground is that they have non been educated about the environment and another, the reverberations from mismanaged resources have non affected their day-to-day lives. Any alteration must be extremist. Intervening at the borders is non plenty. What is needed most is to set an terminal to the destructive utilizations of symbolism in environmental political relations. This will non be easy. Political symbols provide a cutoff for mobilising support in a complex society where issue argument is hard, and public attending in the issue attending rhythm is brief. ( pg. 116 ) Public environmental instruction must get down in the schools. It should ramify to every country of life. Movies, media, and the amusement industry, must force environmental consciousness. It is non a short program, nevertheless in one coevals, it could alter the United States if non the universe. A coevals could be formed for zero acceptance of politicians that make determinations based on money alternatively of the good of the common people. There are excessively many illustrations of the calamity of the parks that have been the consequence of the corrupt or greedy few. John Ehrenfeld captures the current sentiment ; losing about wholly from the problem-oriented activities of today is a vision of a universe that is sustainable, even a definition of sustainability is losing. No admiration that we move frontward merely on occasion, alternatively floating largely sideways or backward. ( pg. 48 ) In our coevals, we exhibit a religion in instruction which is firm. In malice of grounds to the contrary, we believe that cognition leads to virtue and that truth will so bring forth goodness. ( Hurst, pg. 35 ) It is with this cognition that we can alter the destructive class we are heading. Get downing with kids, instruction of the environment and linking each one of them to it on a personal degree will guarantee regard for the environment subsequently. Ehrenfeld closes with a statement that wraps everything up ; as this happens, encoded elements of a sustainability paradigm will get down to replace the old cultural pillars. And as the structuration procedure works its evolutionary manner, the whole system should go more and more unfastened to sustainability, supplying fertile dirt for the visions of the interior decorators to take root. ( pg. 196 ) Plants Cited Scott, Gerald. â€Å"PACKAGING AND THE ‘THROW-AWAY ‘ SOCIETY† . Journal of the Royal Society of ArtsVol. 122, No. 5212 ( MARCH 1974 ) ( pp. 188-202 ) Stana, Edward J. Packaging and the Environment. Natural Resources & A ; Environment, Vol. 9, No. 2 ( Fall 1994 ) , pp. 16-19. Published by American Bar Association Luz Claudio. OUR Food: Packaging & A ; PUBLIC HEALTH. Environmental Health Perspectives, Vol. 120, No. 6 ( JUNE 2012 ) , pp. A232-A237. Published by: Brogan & A ; Spouses Donald N. Dewees and Michael J. Hare. Economic Analysis of Packaging Waste Reduction. Canadian Public Policy / Analyse de Politiques, Vol. 24, No. 4 ( Dec. , 1998 ) , pp. 453-470. Published by: University of Toronto Press Clemens Weidemann. GERMANY: Regulation ON THE AVOIDANCE OF PACKAGING WASTE. International Legal Materials, Vol. 31, No. 5 ( SEPTEMBER 1992 ) , pp. 1135-1144. Published by: American Society of International Law J. H. Song, R. J. Murphy, R. Narayan and G. B. H. Davies. Biodegradable and Compostable Alternatives to Conventional Plastics. Philosophic Minutess: Biological Sciences, Vol. 364, No. 1526, Plastics, the Environment and Human Health ( Jul. 27, 2009 ) , pp. 2127-2139Published by: The Royal Society R. Aspinwall and J. Cain. The Changing Mindset in the Management of Waste. Philosophic Minutess: Mathematical, Physical and Engineering Sciences, Vol. 355, No. 1728, Clean Technology: The Idea and the Practice ( Jul. 15, 1997 ) , pp. 1425-1437 Published by: The Royal Society Jefferson Hopewell, Robert Dvorak and Edward Kosior. Plastics Recycling: Challenges and Opportunities. Philosophic Minutess: Biological Sciences, Vol. 364, No. 1526, Plastics, the Environment and Human Health ( Jul. 27, 2009 ) , pp. 2115-2126. Published by: The Royal Society Stephen M. Meyer and David M. Konisky. Adopting Local Environmental Institutions: Environmental Need and Economic Constraints. Political Research Quarterly, Vol. 60, No. 1 ( Mar. , 2007 ) , pp. 3-16. Published by: Sage Publications, Inc. Lennart Lundqvist. Sweden ‘s Environmental Policy. Ambio, Vol. 1, No. 3 ( Jun. , 1972 ) , pp. 90-101. Published by: Springer Daniel R. Mandelker. Environmental Policy: The Following Generation. The Town Planning Review, Vol. 64, No. 2 ( Apr. , 1993 ) , pp. 107-117. Published by: Liverpool University Press Sam T. Hurst. Environment and Education: Past, Present, Future. Journal of Architectural Education ( 1947-1974 ) , Vol. 19, No. 3 ( Dec. , 1964 ) , pp. 35-37. Published by: Taylor & A ; Francis, Ltd. John R. Ehrenfeld. Sustainability by Design. A Insurgent Strategy for Transforming Our Consumer Culture. September 2008 Published by: Yale University Press

Econ-545 Week 6 Quiz

| 1. | Question: | (TCO F) The size of the labor force in a community is 1,000, and 850 of these folks are gainfully employed. In this community, 50 people over the age of 16 do not have a job and are not looking for work. In addition, 80 people in the community are under the age of 16. The unemployment rate is ______. | | | Student Answer:|   | Unemployment rate=unemployed/labor force*100 150/1000*100=15% 1000-850=150 (number of people unemployed) then divided by total labor force divided by 100|   | Instructor Explanation:| The unemployment rate is calculated by dividing the number of unemployed by the labor force.The labor force is calculated by subtracting three things from the population (# under 16, # of institutionalized adults, and # not looking for work). In this example,  you are given the size of the labor force (1,000), and you are also told that 850 are employed. Therefore, 150 are unemployed, and the  unemployment rate is simply 150/1,000 or 15%. | | | | Points Received:| 15 of 15| | Comments:| | | | | | | 2. | Question: | (TCO F) Suppose  nominal GDP  in 2005 was $15 trillion, and in 2006 it was $16 trillion. The general price index in 2005 was 100, and in 2006 it was 103.Between 2005 and 2006,  real GDP  rose by what percent? | | | Student Answer:|   | Nominal GDP and REAL GDP must be equal in the base year. 2005 15tr, price index = 100 since nominal and real GDP must be equal in the base year 15tr/1. 03=16. 56tr(16. 56-16. 00)/16. 00=4% or 3. 5%|   | Instructor Explanation:| You need to make use of the inflation formula for the GDP deflator here and compare results between the two years. For 2005: 100 = [$15 T / Real GDP] x 100 So, Real GDP must equal $15 T. You could also recognize that Real GDP and nominal GDP are the same in the base year.For 2006: 103 = [$16 T / Real GDP] x 100 1. 03 = [$16 T / Real GDP] Real GDP = $16 T / 1. 03 So, Real GDP must equal $15. 534 T. The percentage increase in Real GDP will then be [(15. 53 4 – 15) / 15] x 100 = (0. 534 / 15) x 100 = 3. 56%  Therefore Real GDP increases by 3. 56% between 2005 and 2006. | | | | Points Received:| 19 of 20| | Comments:| | | | | | | 3. | Question: | (TCO F) The consumer price index was 198. 3 in January of 2006, and it was 202. 4 in January of 2007. Therefore, the rate of inflation in 2006 was about ______. | | | Student Answer:|   | 202. -198. 3=4. 1 4. 1/198. 3=. 02067 or 2. 07%|   | Instructor Explanation:| The rate of inflation is the rate of change of the inflation indicator, or more specifically: [(New Price Index – Old Price Index) / (Old Price Index)] x 100 In this case this equals, [(202. 4 – 198. 3) / 198. 3] x 100 = (4. 1 / 198. 3) x 100 = 2. 07% or approximately 2%. | | | | Points Received:| 15 of 15| | Comments:| | | | | | | 4. | Question: | (TCO E) (10 points) As the U. S. dollar appreciates in value relative to the Japanese Yen, what happens to the price of U. S. goods in Japan?What happens to the price of Japanese goods in the U. S.? (10 points) Why would a country (for example China) choose to keep their currency relatively pegged to the U. S. dollar? If the U. S. dollar were to appreciate considerably against most currencies, what would be the effect on Chinese exports to countries other than the U. S.? | | | Student Answer:|   | the price of goods in Japan start going up. the price Japanese goods in US start going down. China keeps its currency pegged in order to sell their goods for a cheaper price in the US and to make the US market dependent on their product. If dollar appreciate it will drag China's currency with it,in other words reducing China' export. |   | Instructor Explanation:| When a country's currency appreciates, it becomes more valuable versus the other currency we're comparing against. So, in this case, it would take fewer dollars  to purchase the same amount of Japanese Yen, U. S. goods become more expensive to Japanese buyers, and Japanese goods be come cheaper to U. S. buyers. A country such as China might choose to peg their currency to the U. S. dollar to keep prices stable for a key  trading partner like the U.S. If the U. S. dollar would appreciate considerably against most  currencies, this would not affect China trade with the U. S. , but  Chinese goods would become more expensive to their other trading partners, and could cause Chinese exports to these other markets to decrease. | | | | Points Received:| 17 of 20| | Comments:| | | | | | | 5. | Question: | (TCO E) Suppose the Indian rupee price of one  British pound is 54. 392 rupees for each pound. A hotel room in London costs 120 pounds, while a similar hotel room in New Delhi costs 6,500 Indian rupees.In which city is the hotel room cheaper, and by how much? | | | Student Answer:|   | London hotel room 120 pound or 6527 rupee (120*54. 392) India hotel room 119. 50 pounds (6500/54. 392) or 6500 rupee the hotel room is cheaper in India for . 50 cent in pound or 27 rupees|   | Instructor Explanation:| Since the exchange rate is 1  pound = 54. 392 Indian rupees, we can convert the price of the hotel room in London to Indian rupees and then be able to compare. 120 pounds = rupees(120 x 54. 392) = 6,527 rupees.Since the hotel room in New Delhi  costs 6,500 rupees, it must be that the hotel room costs 27 rupees  more in London than in New Delhi. | | | | Points Received:| 15 of 15| | Comments:| | | | | | | 6. Question: | (TCO E) Answer the next question on the basis of the following production possibilities data for Egypt and Greece:   Egypt production possibilities: A  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  B  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  C  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  D  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  E Shirts  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  9  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  12 Pants  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   24  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  18  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   12     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     6  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  0 Greece production possibilities:A  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  B  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  C  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  D  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  E Shirts  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  40  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  30  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   20  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0 Pants  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚   40  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   80  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  120  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  160 Refer to the above data. What would be feasible terms of trade between Egypt and Greece? | | | Student Answer:|   | terms of trade between 2 countries lie somewhere between the opportunity costs in the 2 countries. in this case Egypt 1 shirt= 2 pants and in Greece case 1 shirt=4 pants, so the only feasible term of trade between the 2 countries would be anywhere in between these limits anything between 2 and 4 shirts and pants would work. t any terms of trade higher or lower than 2 or 4 pants per shirt , one of the countries would be able to do better than the terms of trade simply by trading off resources in their own country. |   | Instructor Explanation:| Feasible terms of trade between 2 countries lie somewhere between the opportunity costs in the 2 countries. In this case, in Egypt —   1 Shirt = 2 Pants, and in Greece — 1 Shirt = 4 Pants. So,  the only feasible terms of trade between the 2 countries would be anywhere in between these limitsà ‚  Ã¢â‚¬â€ anything between 2 and 4 Pants per Shirts would work.At any terms of trade higher or lower than  2 to 4 Pants per Shirts, one of the countries would be able to do better than the terms of trade simply by trading off resources in their own country. | | | | Points Received:| 20 of 20| | Comments:| | | | | | | 7. | Question: | (TCO F) The Republic of Republic produces two goods/services, fish (F) and chips (C). In 2006, the 1000 units of F produced sold for $8 per unit and the 5000 units of C produced sold for $1 per unit. In 2007, the 1500 units of F produced sold for $10 per unit, and the 6,000 units of C produced sold for $2 per unit.Calculate Real GDP for 2007, assuming that 2006 is the base year. | | | Student Answer:|   | base year 2006 1,000 units of fish at 8/unit =8,000 5,000 units of chips at 1/unit =5,000 GDP=13,000 2007 1,500 units of fish at 10/unit-15,000 6,000 units of chips at 2/ units at 2/unit =12000 GDP =27,000 Real GDP with 2006 as the base year 1500 units of fish at 8/unit =12,000 6,000 unit chips at 1/unit = 6,000 Real GDP =18,000 18,000-13,000/18,000 GDP grew by 28%|   | Instructor Explanation:| For 2006, Nomimal GDP  = ($8 x 1000) + ($1 x 5000) = $13,000.Real GDP for 2006 would be the same ($13,000). For 2007, Nominal GDP = ($10 x 1500) + ($2 x 6000) = $27,000. Real GDP for 2007 would be ($8 x 1500) + ($1 x 6000) = $18,000. That is, when calculating real GDP for a given year you use the production numbers for that year and the prices from the base  year. | | | | Points Received:| 12 of 15| | Comments:| | | | | | | 8. | Question: | (TCO F)  Country A  produces two goods,  elephants  and  saddles. In the year  2006, the  10 units of elephants produced sold for $2,000 per unit and the  25 units of  saddles produced sold for $200 per unit.In 2007, the  20 units of  elephants produced sold for $3,000 per unit, and the 50 units of  saddles produced sold for $300 per unit. Real GDP for 2007, assuming that  2006 is the base year, is ______. | | | Student Answer:|   | base year 2006 10 units at 2000 per unit =20,000 25 saddles at 200=5000 GDP=25,000 2007 20 units at 3,000 per unit =6,000 50 saddles at 300=15000 GDP=21,000 real GDP with 2006 as the base year 20 units of elephants at 3000 = 60000 for 50 units of saddles at 25 =1250 real GDP 61250 61250-21000/61250 real GDP grew by 65%.   | Instructor Explanation:| Real GDP is calculated for a given year by using the quantities produced in that year and substituting the base year prices. In this example we get: 20 ($2,000) +  50 ($200) = $40,000 + $10,000 = $50,000. | | | | Points Received:| 12 of 15| | Comments:| | | | | | | 9. | Question: | (TCO E) A Honda Accord sells for $28,000 in the United States and for SF35,520 in Switzerland. Given an exchange rate of SF1. 5 = $1, how do the car prices of both countries compare? | | | Student Answer:|   | with an exchange rate of SF1. 25=$1 28,000*1. 25=35,000 SF price is 35,520 t he car sells for SF520 more in Switzerland that it does in the US. |   | Instructor Explanation:| At an exchange rate of $1 = SF1. 25: $28,000 would equal   (1. 25 x 28,000) Swiss Francs = SF35,000, meaning that the car sells for SF520 more in Switzerland than it does in the U. S. Points 15 of 15| | | | | | |