Discussion of the theories on Optimal Capital Structure Essay

Conversation of the hypotheses on Optimal Capital Structure - Essay Example The examination by Modigliani and Miller depended on the accompanying presumptions: 1. There are no financier costs. 2. There are no duties. 3. There are no chapter 11 expenses. 4. Investors can get at a similar rate as partnerships. 5. All speculators have a similar data as the executives about the firm’s future venture openings. 6. EBIT isn't influenced by the utilization of obligation. This hypothesis says that if these suspicions remain constant, the estimation of the firm isn't influenced by the capital structure. This circumstance is communicated as follows: VL = VU = SL + D. Here VL is the estimation of a turned firm, VU is the estimation of an indistinguishable, unlevered firm, SL is the estimation of the turned firm’s stock and D is the estimation of its obligation. As we realize that WACC is a blend of cost of obligation and cost of value. The expense of obligation is lower than the expense of value. As an organization raises capital through obligation, the heaviness of obligation increments and thus, it drives up the expense of value as value gets less secure. As per the suppositions by Modigliani and Miller, the expense of value increments by an add up to keep the WACC steady. As it were, under these suspicions it doesn't make a difference whether the firm uses obligation or value to raise capital. Thus, capital structure choices are unessential in such conditions. Modigliani and Miller: The Effect of Corporate Taxes In 1963, Modigliani and Miller loosened up the supposition that there are no corporate charges. The corporate assessment laws favor obligation financing over value financing on the grounds that the duty laws permit organizations to deduct intrigue installments as cost and then again profits are not deductible. So this treatment e nergizes obligation financing. Premium installments decrease the sum the firm pays to the administration as assessments and a greater amount of its money is accessible for its speculators. Subsequently, charge deductibility of the intrigue installments goes about as a shield for the firm’s salary before charge. Modigliani and Miller introduced this idea as follows: VL = VU + Value of symptoms = VU + PV of expense shield. They further rearranged the idea as: VL = VU + TD. Here T is the corporate duty rate and D is the measure of obligation. This relationship is communicated in the chart underneath. On the off chance that the corporate duty rate is 40%, at that point this equation suggests that each dollar of obligation will build the estimation of the firm by 40 pennies. Thus, the ideal capital structure is 100% obligation. Under this hypothesis, the expense of value increments as the measure of obligation increments yet it doesn't increment as quick as it does under the suspi cion that there are no assessments. Accordingly, under this hypothesis the WACC falls as the measure of obligation increments. This relationship is appeared in the accompanying chart. Mill operator: The Effect of corporate and individual duties Later Miller got the part of individual charges in this model. He said that pay from the securities is considered as intrigue which is burdened as close to home salary at a specific rate (Td). Then again, pay from stocks comes as profits and capital increases. The duty on long haul capital increases is conceded until the stock is sold and the addition is figured it out. Of the stock is held until the proprietor bites the dust no capital additions charge is paid. So he inferred that the profits on stock are charged at a lower viable expense rate (Ts) than returns on obligation. Looking gat this, Miller contended

Communication Today

Numerous individuals have begun taking alternate routes in our cutting edge world. The human populace is doing all that they can to speed through life. One such alternate route is the manner in which society imparts. Despite the fact that out the most recent quite a few years the innovation that has associated varying backgrounds has drastically transformed, it went from verbal exchange to the composed word, to phones and past. Presently messaging and divider postings are types of speaking with loved ones everywhere throughout the world. Many accept that these sorts of systems are pulverizing our interchanges as a general public. Be that as it may, these systems permit individuals to remain in steady association with numerous individuals on the double, they are advantageous, and safe to utilize. Long range interpersonal communication locales like Facebook, Myspace and numerous others associate individuals to every one of their companions and more distant family individuals at the same time in various manners. One such path is by statuses update which is when individuals state what is on their brains or what they may be doing that day. Another is posting pictures of pretty much anything with the goal that relatives who in any case wouldn’t see them until a social affair if at all could see them. Individuals who are not, at this point close to their friends and family advantage the most from these notices. This continually refreshed type of correspondence is nearly in the same class as being with the adored one. With individuals everywhere throughout the world utilizing organizing destinations they have gotten progressively understandable, from being accessible at neighborhood open libraries to the comfort of being primed and ready on an individual PDA or other hand held gadgets for nothing out of pocket. The comfort this has added permits individuals to refresh their sculptures whenever, yet additionally post pictures of what is happening in their every day lives on the recognize regardless of where they are from their remote gadgets. This empowers all the loved ones associated with that people page to comprehend what is happening in somebody's life who they may not get an opportunity to converse with on a day by day bases. Facebook just as numerous different destinations are protected to utilize (if the correct measures are taken) that everybody has begun making pages, from kids in center school as far as possible up to those children grandparents. Such locales permits the client to set it up their page in any case they need. They give numerous decisions on who is permitted to see that specific page. The choices comprise of hindering the page from each and every individual who isn't on the user’s companions list and not having the option to be found in a hunt, to having a totally open page where anybody can see such the sight as to offer. †¨Most of these sights likewise have limitations to where might be clients are obstructed from utilizing the destinations by any stretch of the imagination, or with other such precautionary measures Regular individuals are turning out to be worried about the possibility that that our correspondence among loved ones are separating somewhat more consistently. This is basically false; in actuality it is the inverse in view of how quickly innovation is transforming it permitting us to impart at some random second with every one of our loved ones. With sculptures updates and divider postings readily available we are more associated at some random second now than any other time in recent memory. Destinations like Myspace, Facebook, and numerous other are the principle way that individuals in today’s society convey do to the face that as a gathering we are speeding through life at twist speed.

PAYBACK

PAYBACK In Munich we interviewed Bernhard Brugger, CEO PAYBACK Europe.He shares great insights regarding the challenges prior and during the PAYBACK launch, why PAYBACK today is much more than a multipartner loyalty program and which advice he can share with first time entrepreneurs.Interviewer: Hi. Today we are in Munich with PAYBACK (www.payback.net), and next to me is sitting Bernhard. Bernhard, who are you and what do you do?Bernhard: I am Bernie, CEO of PAYBACK for Europe. Europe in our terms it’s Italy, it’s Poland, and it’s Germany where it all began. Hopefully next year there are some more countries coming up.Interviewer: What did you do before you started this company?Bernhard: I don’t remember. I have been within this company for 14 years, before that I was responsible for the key account management for the Media Saturn Holding within Philips company. So I did basically the sales.Interviewer: What triggered you to become an entrepreneur.Roland Berger and he was involved in consultations in the Miles and More program within the Lufthansa. He talked about having a program similar to Miles and More, but on a much broader basis, on a day to day basis, for the day to day shopping behavior of the customers. I met him a couple of time at the airports and he told me about the idea and I thought to myself this is cool, this is a great new idea, I should join this, I am young so let’s do something else.Interviewer: Let’s talk about the business model of PAYBACK. Can you briefly describe how the business model is currently working and how it may be changed over time?Bernhard: Currently we are seeing ourselves not as a loyalty company, we see ourselves as a multi-channel marketing platform, that’s basically the answer as to how it changed over time. When we started we looked after having a loyalty program, as I said, on a day to day basis, joining a lot of partners who are relevant for the customers, for example the food retail, for example gas stations, an d some other retail chains where customers are used to buying things. We thought to ourselves to have the next wave of the good old client, let’s say it that way. So to collect the data of the customers, to have value for the customers in it, and to provide them with additional benefits. So we started as a purely loyalty program but we now we have developed over time on an offline basis, to a marketing platform, and today we see ourselves as multi-channel marketing platform by bringing in all the digital channels.Interviewer: What triggered this â€" I wouldn’t call it a pivot â€" but the change in the business model?Bernhard: I don’t think it’s a change in the business model, it’s the evolution. And it’s a key evolution because only having the data and only providing the value for customers at the point of sale is not enough, so have to communicate with the customers, you have to tell them what’s in it for them. And what customers are expecting today is that â€" they a re receiving all the time a lot of different ads from all the digital channels, from the TV stations, from the radio, from wherever, so there is a mass of communication targeting all the customers â€" and what customers are expecting from us is we know about what they are doing and we should use the knowledge to give them offers or coupons which are relevant for them and which are personalized. So on an individual they’re expecting from me or from PAYBACK that what they are receiving is relevant and is personalized. So this is the logical evolution of knowing the customers and serving the customer better. So we went into the serving of the customers, as I said, starting on an offline basis with our account statements, and now having a multi-channel platform in place where you have the coupons wherever the customer is.Interviewer: Can you tell us a little bit more how you managed this transition from pure offline player to a multi-platform player, and especially how the current off line platform is working.Bernhard: There is no offline platform anymore. We are a multi-channel platform, that’s the important thing. Our belief is there is no digital customer, but there are customer who are going into points of sale, who are used to having a mobile with them, who like to communicate of Facebook, who like to Twitter, who like to go whatever websites, and our strong belief is not to educate customers to do what you want them to do, our strong belief is to be there where the customer is. So there was no change. If you have a DNA as a company to look after the customer, you have to integrate what’s coming next. And the big change â€" if you like to use the word â€" the big change is to really invest in the new technologies and try to bring in everything you need to be there where the customer is, and to integrate all the new channels. And this in terms of change this was our major achievement to bring the coupon from the offline account statements into this multi- channel marketing platform, and having the coupon ready wherever he is and the same coupon. So he has the same coupon offline that he has online, that he has on the mobile, that he has on the Facebook or Twitter or whatever, and again on the terminals, which is the inter-link between the points of sale and the digital world.To build this up needs a lot of effort, needs of a lot conviction, looking at more traditional partners and sponsors that we are having in our system, to convince them that digital is not only a word, that they really have to fulfill it if they look at the customer, and to have the right systems to have this in place. So we are quite proud because the multi-channel marketing platform we have in place is unique in the world. This as a transition and, to be honest, it was costly.Interviewer: When you started this company what happened to the major drawbacks or problems that you accomplished?Bernhard: We were, whatever, 32 when we started the company. And to go to t he Metro or to the big retail partners and saying , hey, listen we have the next big thing and that it will be a huge thing which is called PAYBACK, and we will collect data, and we will have a multi-channel loyalty scheme â€" which is unique in the world because until 2000 there was an online field, and then we started it on an offline base. So I don’t think that was a multi-channel scheme, a big one, in place anywhere in the world. And to convince those guys wasn’t too easy because we came to the big retail guys and they said, I don’t know, and they asked us who will attempt, who is part of the community of the club? And then we said we are planning. So the first answer was, “Call us if you are off the planning stage and if you have a portfolio ready,” so it’s a chicken and egg discussion.So we had convinced Dr. Koerber from the Metro, he was one of our first big supporters and believers, so thank you again Dr. Koerber. He said okay I will join with my departmental sto res. And we had Dea which was during those days one of the few big gas station chains. And another company had the contract that they had the chance to pull if Metro is not part of the scheme. And again we were in very good discussions with the Telekom and Metro had a contract that they had the right to pull out if Telekom doesn’t join. So it was a card house. And, to answer your question, which was one of our major challenges, at one point in time the Telekom said â€" which is now one of our partners â€" but fourteen years before they said, yeah we will join but it has to be Metro and it has to be Dea. So we thought to ourselves, and we were young, we were 25 people, very ambitious, we planned to start four months later and the Telekom said so that’s the only chance that we would sign the contract. And then we sat and we thought to ourselves, no, it’s important to be independent, because only if you’re independent can you bring a lot of big guys together and be, let’s say , the moderator of the platform. Then Telekom said okay we will pull out. Then we had to go back to Metro and tell them, listen guys, please stay with us, we will make it, and we will put some additional marketing money, and we promise we will have seven million customers at the end of the year, so believe in us. And again to go to Metro and tell the same story and to the other partners like Apollo for examples. Fortunately this was a make or break and if they would have said, “In that case no,” then would only have had a good idea.Again Metro said, okay, I believe in your ideas and I believe in the restructured plan we’re having, and they said okay let’s go on. But this was one of our big disappointments or, let’s say, challenges before we started. And during the last year also one of our big dips was the loss, to be honest, of Obi which is one of the biggest or the biggest do-it-yourself chain in Germany and which was a big and important partner for the whole portfolio a nd for our company. So this was a challenge as well, and during those days we weren’t as big as we are today. So those were let’s say the two major overcomes we had to manage.Interviewer: In terms of corporate strategy, as you said a multi-channel marketing platform, so this would mean that you’re competing with other multi-channel marketing companies like Google or soâ€"Bernhard: Is Google a multi-channel marketing platform?Interviewer: Well, it’s a Google channel. They do retargeting and all the stuff as well. But what distinguishes PAYBACK from other multi-channel marketing companies, and how do you think you need to continue creating some competitive advantage over them?Bernhard: First of all we are not competing against those guys. I think we are kind of unique, because as I said we have the multi-channel marketing platform but our big asset is that we have a multi-partner platform, and we have really cool, big sponsors or partners within our scheme, and that’s our bi ggest asset, and nobody has this connectivity to the retail. I am a strong believer of the retail, and out of this we have customers who are not only linked to us, they are linked to us and to their beloved retail formats wherever they are shopping. So we have this huge asset that we have customers coming from all those partners and going to the others through our scheme. We know a lot about those customers and Google doesn’t know that much about the customers because they have no clue about transaction data, let us say in the offline world. And, additionally, we know what’s going on in digital, and we are working to be even more digital all the time and brining in online or digital official partners to have a broader knowledge, and again to fulfill the customer needs to shop offline and shop online and to display via the multi-channel market platform. So that’s why I think we are in quite a good position, even against those big guys like Google, Facebook, and everybody is thi nking about what to do with the data, what to do with the customers, how to advertise, whatever. So we are not competing on a broad base because we are only using the data and the platform of our partners within our portfolio. But we have this strong portfolio, so that’s the asset. And we have the whole customer base which to rebuild is not easy.Interviewer: Did you think about, maybe you’ve heard of them, of this IBeacon technology. How would PAYBACK use such kinds of technology? Would it be more of make it or buy it decision?Bernhard: The more technology possibilities are improving, the more you can bring in new ideas in your thinking, in your platform, in your company, in your strategy, whatever you call, then you we the chance before us. So if you look at the evolution of our scheme, we haven’t had the code until now how to bring in all the local customers and local partners, and I think that’s very important. If you look at the mobile devices â€" that’s maybe one of y our next questions â€" what’s next, so I think still we have to count on our strength, which is our big partner portfolio, but we have to enhance it with all the online official partnerships, and we think we have a real value proposition for digital partners or digital companies.And it’s about having local partners and serving our customers on a digital basis, but bringing in all the local shops as, let’s say, kind of coupon tried to do it or to bring in the market. But I think from our perspective we can create a whole ecosystem and this is then important, and by doing this for sure the local and then the Beacon technology for the big sponsors and for the local partnerships are very interesting. And the only thing you have really to consider if you have 20 shops in a mall, for example, and if you have the technology everywhere, and if everybody is sending out messages on a minute basis to the customers who are walking down the mall with their iPhones or whatever phones, it’ s spam, and the customer will it off. So you really have to make sure that you are very careful how many messages on which base you’re giving to the customers. And by saying this, yes that is one of our foxus we’re thinking about how to enhance our ecosystem with the local sponsors, with Beacon technology, with the push technologies, and in the middle of all is for us the mobile phone. So if you talk about digital, you talk about mobile in the future.The second question, make or buy, I don’t care. So make or buy is not the question, the question is who has which rights and who is the master of the data and who has the rights to the customer communication and the customer connectivity. And the only thing where we are crystal clear, we in our heart â€" if I say we it’s all the time our multi-partner portfolio and we as a fulfiller and as the manager of the program, so we don’t see ourselves independent, we are a big community with our partners â€" and if I say this we have t o have all the data rights, we have to control the data, we have to control what’s happening with our customers, who is communicating with our customers, so if there is a good technology out there to buy we will buy it. Why invent something which is better outside? If not we will do it by ourselves. We are investing internationally this year over 80 million Euros in IT and technologies, so we have both possibilities.Interviewer: Bernie, in terms of market development, what trends do you see currently in the multi-channel marketing sphere?Bernhard: Basically what we just discussed, and it’s not a trend, it’s a fact everything will be on the mobile devices, and how they will look like in two or three I don’t have a clue, you have to ask Apple or whoever. But to have the mobility via bigger, smaller, whichever devices, this is the future. So we don’t think about having a card or not the card or stuff like this, this is not interesting for us. Interesting is, again, what the c ustomer is using and that we fulfill the needs of the customers by whatsoever device on a simple base. So it has to be simple, it has to be fun, it has to be trustworthy, and it has to be relevant. Those are the four key values of our company, and if you fulfill those four key values you can build on everything what happens next. And you have only to make sure that you have the right resources in your company to look after the next wave, to execute what you are planning, and have the money to build it up. That’s important.So from my perspective the coming together of mobile, of payment, of local business, that’s the way we are thinking about the next steps, and I think not only our company is thinking about this.Interviewer: Bernie, you as an entrepreneur maybe have some kind of insights that you can give advice to other first-time entrepreneurs. What are you top two or three advices to entrepreneurs?Bernhard: First of all, believe in yourself, be persistent, so if something hap pens which you have not planned don’t give up. I think as I mentioned we have a lot of partners but none of them signed the first time. So we went out the door we came back through the back door. And that I think is important. Find the right partner, as I said not only the right partners to give you money, the right partners to have connections, ideas, good strategy, and help you to grow the business, help you to look after what is important, and really to focus on the right thing. And be open to the suggestion or to the advice somebody else is giving to you.I think one of the things which is most underestimated, be really hard on the execution. Just a good idea and just a good setup and whatever, somebody can copy it in three months’ time, six months’ time, twelve months’ time, take whichever number, but if it’s a cool idea there are guys outside who are thinking, Hey, why shouldn’t we copy this. And if they execute better they will make the race. So really look after t he execution and don’t make any compromises on quality. And don’t forget to have a private life.Interviewer: Thank you very much Bernie. Let’s have a look at PAYBACK in some years.Bernhard: Thank you very much. Bye-bye.

Human Trafficking Modern Day Slavery - 1732 Words

Haley Gooding Mrs. Gallos English 3 Honors 6 April 2017 Human Trafficking One of the most serious crimes worldwide, human trafficking is the buying, selling, and transportation of people for the use of sexual exploitation, forced labor, or organ removal. â€Å"Human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act.† (What is human trafficking Homeland) It happens in the United States and foreign countries. Many people do not see it happening, but in fact it is happening all around the world. It happens in the most unlikely places, for example forced labor could be a hotel maid. â€Å"Victims may sometimes be kept behind locked doors, they are often hidden right†¦show more content†¦Human trafficking includes forced labor, domestic servitude, and commercial sex trafficking.†( Human Trafficking Involuntary) Worldwide human trafficking affects 1,000,000 people each year and between 20,000 and 50,00 just in the United States. According to data victim s are 80% female and half are children.†Many victims are runaway girls who were sexually abused as children.†(11 facts) . The United States is considered one of the main locations for victims for trade in the sex-trafficking industry. In countries such as Southeast Asia, Eastern Europe, and sub-Saharan Africa victims seek options for a better life via the internet, employment agencies or even local residents. Many victims are unaware of the conditions to which they are being recruited for nor do they understand the consequences of human trafficking. The ‘lover boy’ effect is when a girl is approached by a man and the man acts as the girl’s boyfriend and gains her trust by buying things. Then the ‘lover boy’; the recruiter, would ask the girl to meet his ‘friend’; which is the traffic ker. â€Å"They look for people who are susceptible for a variety of reasons, including psychological or emotional vulnerability, economic hardship, lack of a social safety net, natural disasters, or political instability.†(What is Human Trafficking Homeland) Many individuals ignore the signs of human trafficking such as, living with the employer,Show MoreRelatedModern Day Slavery: Human Trafficking 866 Words   |  4 PagesBlood Borne Connections.) 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So, what is human trafficking and why don t many people seek for help or go to athoughty ? Well human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act. Every year millions of men and woman andRead MoreHuman Trafficking : A Modern Day Slavery961 Words   |  4 PagesEnglish IV Nov. 23 2015 How to Stop Trafficking Women are not the only ones being sold today. Man are not the only ones selling humans today. All different kinds of humans are being sold in something called human trafficking. Human trafficking has become a problem worldwide and is effecting all people male, female, children, LGBT. There are many solutions, one of them is to educate the children at a younger age. Human trafficking is like a modern day slavery. The people being sold are forced inRead MoreHuman Trafficking : Modern Day Slavery1210 Words   |  5 PagesHuman Trafficking Imagine being able to own a business and make nothing but profit. One of the types of trafficking is Labor Trafficking, which helps keep prices cheaper by having cheap workers. If companies do not have people working in factories for very little then a lot of prices would go up crazy like on clothing and furniture. A lot of countries economy are built off sex trafficking which helps the economy significantly. The ongoing â€Å"phenomenon† of human trafficking is not a problemRead MoreHuman Trafficking : Modern Day Slavery Essay1389 Words   |  6 PagesPedraza Human Trafficking Human Trafficking Defined Human Trafficking is â€Å"modern day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act† as defined by the Department of Homeland Security. It is largely unrecognized although it is one of the fastest growing criminal industries. It traffics children, teenagers, and adults. Human Trafficking comes second to drug dealing. There is human trafficking for sexual exploitation, trafficking of organ

The French Revolution And French Revolutions - 2006 Words

Although the American and French revolutions both took place in the late 18th century, both fought for independence, and both portrayed patriotism, the revolutions are markedly different in their origins; one which led to the world’s longest lasting democracy and the other to a Napoleonic Dictatorship. Political revolutions in America and France happened because people felt dissatisfied with the way their country was run. In North America they rebelled against rule from a foreign power, they wanted to rule themselves. In France the citizens executed their weak king and tried to introduce a democracy. Many features distinguish the French Revolution of English and American revolutions that preceded it. Finances: Both the American Revolution and the French Revolution were products of desperate economic conditions. France was having a budget crisis, they were bankrupt. Years of bad budgetary decisions and failed efforts to fix the problems. The king was forced to call together the estates general, a meeting of all three groups of the classes. During the meeting of the Estates General, the Third Estate spoke out on their unfair treatment. However, the nobles and clergy also felt that they too were being treated unfairly. Images of hungry and poor French peasants are still familiar. France was in crisis. Food was scarce, prices were high and the government was bankrupt. In order to line the royal coffers, Louis could either borrow or raise taxes, but first he would haveShow MoreRelatedThe French Revolution And The Revolution1523 Words   |  7 PagesThe French Revolution was a time rife with violence, with many revolutionaries using extreme actions to overturn the French Monarchy and create a government based on equality and justice, rather than tyranny and despotism. This violence reached gruesome and terrible heights throughout the revolution, but was justified by the revolutionaries, who believed that their goals of total equality, the end of tyranny, and the return to a virtuous society, allowed them to use means necessary to attain theseRead MoreThe French Revolution And The Revolution1336 Words   |  6 PagesAnalysis The French Revolution was such an important time history. Not only was it a massacre with many lives being lost, including that of Queen Marie Antoinette and her husband King Louis XVI, it was also a time of great political turmoil which would turn man against man that being the case of Edmond Burke and Thomas Paine. Edmond Burke a traditionalist who believed the people should be loyal to the king against his former friend, Thomas Paine a free thinker who believed in order for things toRead MoreThe Revolution Of The French Revolution1040 Words   |  5 PagesWhile there were political and social causes of The French Revolution the most important cause was actually economic. A few years before the French’s revolution the French spent approximately 1.3 billion livres, 13 billion dollars, on the American Revolution. This gracious contribution caused trouble at home. The French Revolution was one of the most important events in history. While it changed the social structure in France it also affected many different countries across the world. â€Å"the treeRead MoreThe French Revolution And The Revolution1640 Words   |  7 Pages The French Revolution is often seen as one of the most influential and significant events in world history (Voices 9). The surge of rebellion present in those against the old regime, or Ancien Rà ©gime, inspired reformers for generations to come. Nevertheless, the French Revolution would not have occurred without the aid of the Enlightenment Thinkers, or Philosophà ©s. These Philosophà ©s’ ideas sparked the French Revolution. Prior to the French Revolution, France was radically different. It was theRead MoreThe French Revolution And The Revolution1321 Words   |  6 Pages The French Revolution The French Revolution was an iconic piece of history that help shape the world. It was a time were great battles occurred. Blood sheds happen almost every day. The streets were red by the blood of bodies that were dragged from being beheaded. The economy was in bad shape. But before all of this the French had a few goals but there was one goal that they all wanted and that was to get rid of the monarchy. This idea did not arrive out of nowhere, the commoners were influenceRead MoreThe French Revolution And The Revolution1223 Words   |  5 Pages French Revolution As the Enlightenment began in the middle of the 17th century, people began to use reason rather than stick to tradition. New Enlightenment ideas spread throughout Europe such as ideas on government. Enlightenment thinkers such as Rousenan believed that the best government was one formed with the general consent of the people. Other Enlightenment thinkers such as Voltaire and Montesquieu believed in freedom of speech and a separation of power within the government. All of theseRead MoreThe French Revolution And The Revolution1221 Words   |  5 PagesWhen people think of the French Revolution, they immediately think of the country of France and how the Revolution affected it. What most people do not think about however, is how the Revolution affected other countries, specifically the country of England. England was affected positively and negatively by the Revolution in that there was an increase of political involvement, but there was a collapse in the economy due to war declared by France. The French Revolution created a battle of conflictingRead MoreThe French Revolution And The Revolution Essay2029 Words   |  9 PagesThe French Revolution was a period of great change it France. It was marked with approximately 10 years of extreme political, social and economic change, brought on by a great unrest from the French public, more specifically the third estate. The French Revolution is often deemed as one of the most pivotal moment in Modern European and world history. It is commonly referred as a political revolution with social consequences .It was perhaps one of the most volatile moment in history, historians themselvesRead MoreThe French Revolution And The Revolution1812 Words   |  8 PagesThe French Revolution was caused by a number of factors, all of which contributed to substantial shifts in lifestyle, government and power in France from 1789 to 1799 . These factors included, population growth and a declining standard of living, both of which increased pressu res on an inefficient economy. As well as writings and criticisms of the Royal government and Church, leading to harsher rule and subsequent rebellion. Also the efforts of the King and his ministers to reduce privileges, reformRead MoreThe Revolution Of The French Revolution1762 Words   |  8 PagesThe French Revolution was a huge turning point in the history of the world and also influenced a handful of future revolutions. This event also inspired a large assortment of paintings and literature. One of the most famous and recognizable paintings in the world that was created during the French Revolution was The 28th July: Liberty Leading the People. Eugà ¨ne Delacroix, whom was a French romantic artist, created this iconic painting in 1830 to commemorate the July Revolution (July 26th-29th, 1830)

Book Review Economic Justice in an Unfair World Free Essays

The book ‘Economic Justice in an Unfair world:Toward A Level Playing Field is written by ‘Ethan B. Kapstein’. This book focuses on the issue of what is meant by a fair global economy and how fundamental it is in this era. We will write a custom essay sample on Book Review: Economic Justice in an Unfair World or any similar topic only for you Order Now An unfair economy deprives the minorities or financially challenged of the basic rights of their life. The book is written in a market oriented manner which highlights the basic elements of an appropriate international economy as being inclusive, participatory, and welfare-enhancing for all states. The international economy should be structured so as it provides benefits to all economies of the world. Kapstein negates the radical redistribution schemes between rich and poor which cause the global economy to be unjust. He emphasizes, through his book on the point that a politically feasible approach to international economic justice could bring about the benefits of free trade and limited flows of foreign assistance so as to allow countries to earn more and make more profits. Kapstein not only focuses on the elements of a just international economy in his book but also writes about certain fundamental factors that contribute towards a just global economy such as: -Justice in labor -Migration -Investment The book is written for all those people who have concerns for the arguments and issues related to the reduction of poverty and global development. This book provides a detailed illustration of the international community, so as to locate the factors that should be considered in order to structure a global economy that emphasized the benefits of all nations. This book is a must read for people who would want to know about the basic questions relating to the moral economic philosophy. Kapstein makes the use of reasoned writing style in order to present his views to the reader. Through the contents of his book Kapstein attempts to challenge the West’s claim which states that the developing countries’ should aim at their own development efforts which should be focused on reducing poverty, and this aim should be achieved not through industrialization and economic growth but by the formulation of policies that are directed on the issue of poverty (Ethan B. Kapstein 2006). According to Kapstein, the fundamental element of an international compact is a ‘free-trade regime’ that provides a level playing field. The next factor on which Kapstein focuses in regard to the just international economy is ‘aid’. Kapstein emphasizes through the book on the concept that aid should be used and directed only towards the reduction of poverty but much importance should also be given on empowering the earning capacity of poor countries so that they can take active part on a level playing field. This objective can be achieved through the major shift from the present allocation priorities such as -Primary education -Basic health care -Favor of investment in ports, railways, and the customs and patents bureaucracies. The third point Kapstein discusses in the book is that since migration and remittance payments will become even more essential for developing countries in the future, it is important to create an umbrella regime so as to include issues related to migration, this would help in bringing stability and justice to policies that are now determined by each state. The fourth and last point discussed in the book is related to the issue of international investment most importantly foreign direct investment (FDI). He emphasizes that it should be included in the umbrella regime (Wade, 2006). Strengths and Weaknesses of the Book as compared to other similar readings The same point that is emphasized by Kapstein through his book ‘a just global economy cannot be achieved with only focusing on the factor of poverty reduction, but importance should also be given to the economic settings of nations’, is also debated over in ‘ The No-Nonsense Guide to International Development’ by Maggie Black. Through this article Maggie Black also emphasized that: -The facts that seem to wrong on paper look as wrong technologically or wasteful may have good characteristics on other terms like promoting local leadership, or vice versa -The main aid=development=poverty reduction does not help to understand the meaning and implication of what aid is or how it works (Black, 2002). The main strength of the book is that Kapstein has identified that focusing on poverty reduction will not be enough to justify the global economy by providing convincing arguments with references and quotes from established sources. The same issue has been brought into the light through ‘What I Learned at the World Economic Crisis’ written by Joseph Slightiz. He traces the failures of IMF’s out dated policies to asses and support, the economic conditions of developing countries through his article. Through this he claims that a large flow of power has occurred to the people who have brought the market to the far corners of the globe. These people were economists, bureaucrats, and officials who acted in the name of the United States and the other advanced industrial countries but they were not able to communicate as effectively as they spoke a language that few citizens could comprehend and that few policymakers bother to translate. Economic policy is the most fundamental part of the communication between America and the rest of the world. But it is a grave fact that the nature of the justice of international economy is not just or democratic where big parties such as IMF do not take country constraints into consideration while formulating policies (Stiglitz, 2000). A part of the book by Kapstein is focused on tracing some of the detail issues which are linked to the issue of a just global economy, as they are critical to a couple billion people around the world. Even if some modifications are made in how the WTO works, it would have a negative impact as on the lives of rural peoples, particularly in developing countries. Through the book Kapstein has debated over the topic that merely emphasizing on the issue of poverty is inadequate to make the global economy just as it does not put relations between states front and center. â€Å"It is governments,† he writes, â€Å"that sign treaties and agreements, impose sanctions and boycotts, and make war and peace, and it is governments that — for good or for bad — are ultimately accountable for their actions at home and abroad. † It can be simply said that a theory devised to justify the global economy must stress on the relations between states and the kinds of economic arrangements states subscribe to. Individuals are not the only moral agents but the states are also moral agents, who are responsible to one another as well as to their citizens (Rosenthal, 2006). Bibliography Black, Maggie, 2002. The No-Nonsense Guide to International Development, ch 2 3 Ethan B. Kapstein (2006) Review: Economic Justice in an Unfair world: Toward a Level Playing Field. . Retrieved on November 7th 2006 from: http://pup. princeton. edu/titles/8162. html Stiglitz, Jospeh,( 2000). â€Å"What I Learned at the World Economic Crisis. †Retrieved on November 7th 2006 from: http://www. mindfully. org/WTO/Joseph-Stiglitz-IMF17apr00. htm Joel Rosenthal, (2006). Economic Justice in an Unfair World: Toward a Level Playing Field Retrieved on November 7th 2006 from: http://www. cceia. org/resources/transcripts/5402. html Wade, Robert, 2006. Economic justice in an unfair world Retrieved on November 7th 2006 from: http://pienso. typepad. com/pienso/2006/09/economic_justic. html How to cite Book Review: Economic Justice in an Unfair World, Papers

Organizational Staffing at Effective Management Solutions Company

Staffing is a very crucial management element that is involved with the coordination of the human resource or work force in an organization. It is a concept that has evolved over the years due to changes in the understanding of the aspect of human resource and the value attached to it. In the early days for example, employees were treated in a bad manner and could be replaced more often without consideration of the consequences the organization would face.Advertising We will write a custom essay sample on Organizational Staffing at Effective Management Solutions Company specifically for you for only $16.05 $11/page Learn More Currently, the need to treat employees in a good manner in an effort to maintain and retain them has been recognized and embraced. This is because the human resource is a crucial element that contributes to the success of an organization through driving other forces, for instance, the assets (Ployhart, Schneider and Schmitt, 2006). This paper looks at organizational staffing at the Effective Management Solutions Company with much emphasis being given to the Hiring and Variable Pay program (HVP). The situation Effective Management Solutions Company is an organization that has undergone a lot of changes in regard to the human resource area. It is a growing company whose focus areas include management systems, human resources, business process improvement as well as quality improvement. The organization’s desire to increase its revenue has necessitated the establishment of a strategic revenue growth plan, which in return has touched on the issue of human resource in the company. There is a need to enhance the workforce in the organization through increasing the number of staff and making the working conditions better for the purpose of retention. Currently, there is a high rate of turnover and hence the need for replacement staffing. This situation has therefore led to the need for changes in the human res ources and thus the establishment of the HVP program Attractiveness of the HVP program Despite the EMS Company’s efforts to enhance the human resource sector for instance through provision of competitive salaries and good benefit packages, there is still much that need to be done so as to achieve the targeted goals especially in regard to revenue growth. The HVP program has been proposed in an effort to place the EMS Company in a better position so as to achieve the projected results in terms of revenue growth. Its main focus is however to look into the current job offer practices in the organization so that the staff needed to fill the gaps are attracted and also retained in the company for consistence and good performance. The HVP program is relatively attractive to both the applicants and those who receive offers since the salary and benefits terms are enhanced. However, those who receive offers would find the HVP program most attractive. This is because they are presented with three plans from which they can choose the most suitable. This brings about convenience that will in turn enhance job satisfaction and good performance.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More HVP Program and Job Offer Acceptance Rate The HVP program will definitely have an effect on the job offer acceptance rate. The HVP program aims at bringing positive changes in the organization for instance increased job offer acceptance rate, reduced turnover and increased job satisfaction among others. The HVP program is likely to increase the job offer acceptance rate. This is because the new terms that are presented in the program are attractive. This includes the salaries and benefit packages which are some of the factors that determine an individual’s choice and acceptance of a given job in one company at the expense of another. This is however subject to other factors, for i nstance, the working conditions since some employees are not only interested with the pay but also working conditions such as job satisfaction and job security. HVP Program and Turnover Employee turnover is a concept that should be kept to the minimum rate possible. Staff turnover is the rate at which an organization gains and loses employees. It can be determined or viewed on the angle of how long an employee is retained in a certain organization. In regard to staff turnover, the HVP program is likely to reduce the rate of employee turnover. This is because the factors that facilitate employee retention such as good pay and benefits are looked at by the HVP program. This will increase job satisfaction of the employees and they will therefore not find reasons to move to other companies in search of satisfaction. It is therefore the responsibility of the human resource management body in any organization to ensure that employees’ job satisfaction is always enhanced since it no t only foster retention of the employees but also enhance performance that in turn leads to increased productivity and profitability (Taylor and Chartered Institute of Personnel and Development, 2002). Reaction of Current Associates to the HVP program Just like in any other aspect, there ought to be different reactions from the current associates in regard to the HVP program. Initially, there ought to be mixed reactions with some of the current associates supporting the HVP program fully and others rejecting it due to doubts of its effectiveness or the positive effects it would have to their employment. Resistance is the most probable reaction where even though the current associates may perceive that HVP program to be advantageous, they may not be willing to embrace it fully. However, there are those who may advocate for it due to the fact that its terms and conditions seem promising (Mathis and Jackson, 2010). Issues and Problems of the HVP Program Plan In as much as the HVP progr am may seem so attractive and promising, it will present some problems and issues not only to the human resources but also to the hiring manager. The three plans presented to the offered receiver, for instance, may bring about confusion where some may make wrong decisions. The problem comes in where the switching from one plan to another is only allowed once in a period of two years.Advertising We will write a custom essay sample on Organizational Staffing at Effective Management Solutions Company specifically for you for only $16.05 $11/page Learn More This may lead to job dissatisfaction and hence poor performance and to the extreme, it may lead to quitting. To the human resource manager, the HVP plan will add to his/her workload where he/she needs to look into all the changes that are proposed. There is also the issue of dealing with all the human resources problems that will emanate from the implementation of the HVP program. Recommended Changes in the HVP program To ensure that the HVP program is effective, there need to be some changes. There ought to be some flexibility where the staff is given some chance to switch from one plan to the other whenever there is a reason, for convenience purposes. The program should also be introduced at a moderate rate rather than at once to avoid any chances of confusion among the parties involved including the employees and the management body. Reference List Mathis, L.R. and Jackson, H.J. (2010). Human Resource Management. 13th Ed. Mason, OH: Cengage Learning Ployhart, E.R., Schneider, B. and Schmitt, N. (2006). Staffing Organizations: Contemporary Practice and Theory. 3rd Ed. New Jersey: Routledge Taylor, S. and Chartered Institute of Personnel and Development. (2002).The Employee Retention Handbook. London: CIPD Publishing This essay on Organizational Staffing at Effective Management Solutions Company was written and submitted by user Gisselle Nielsen to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.