A Hostile Work Environment Commerce Essay

A Hostile Work Environment Commerce Essay This compensation can come in the form of salary increase or bonus. If someone feels they are not being rewarded or even considered for an increase they very often look to move somewhere else that they can receive a higher salary. A hostile work environment is also a major reason that employees felt demotivated. When an employee feels that their work environment is not safe or that they are treated unfairly they may often look to leave. Many times they do not try to confront the situation, but instead would prefer to just avoid it which greatly dissatisfies them and which would in turn prevent the organization from retaining its employees. Problem Statement In this research study, the motivating factors which are not being implemented due to which Ufone is facing trouble to retain its employees Research Question What are the motivating factors that will lead to employee retention at Ufone? Rationale of the study The basic premise for studying the Human Resource Management Practices (HR) and Employee Retention in relation to level of motivation of employees at Ufone is to assess the importance being attached to these vital aspects by the organizations concerned and to develop an understanding of the relationship between the overall manner in which motivation has subsequent impact on the willingness of the employees to stay with the organization. Its the need of today for us to analyze the important role played by the ability of the organizations to retain competent employees for developing distinctive competencies for an organization. This report can be useful for different people for organization and employers who are planning to retain talented employees and are faced by lack of employee turnover. In todays emergent world, the Telecom industry is expanding immensely and the 2nd largest sector in Pakistan. It is essential to conduct research on telecom related topics in order to create a better understanding of the sector and help to increase the revenue generated from this sector for the government and for itself, having a positive effect on the economy too. Institutions are being reshaped to adjust to a postindustrial society. Naisbitt suggested that motivational implications are very important; most of our economy continues to shift from manufacturing to service and information jobs. In an ever raging battle of surpassing each other, organizations with distinctive competencies out perform their competitors. To gain and maintain competitive advantage an organization uses every possible mean available to it in its battery of resources. Marketers and multinationals would want their competent employees to stay within the organization, thus they would want to find out the motivating factors that lead to employee retention. The present research focuses on exploratory goals such as analyzing the motivating factors that lead to employee retention, which in turn effects the over all performance of the company. Research Objective To explore factors that lead to employee retention. To analyze if working environment plays an important role in the motivation process To access the recognition of work and its impact To analyze the amount of influence training has   when it comes to motivating employees To find out what are the challenges and bottle necks preventing Ufone from enhancing the employee productivity and in retaining talent. To find out the importance that motivation holds for employees in order to stay with-in the organization. To asses whether empowerment and delegation of authority gives an employee a sense of responsibility To explore if internal and external factor would help increase the motivation process To analyze the amount of influence that motivation at Ufone has on its employees. Scope of the study This study is restricted to the motivating factors that would lead to employee retention at Ufone. In this research secondary data is obtained from sources such as published articles and reports while primary data is gathered through interviews and questionnaires survey from the employees of Ufone. This report can be useful for Ufone, its head of departments and the institutions which would bring into light the problems and how to prevent those factors that lead to employees being demotivated and how a company can retain its employees.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   CHAPTER 2 LITERATURE REVIEW In the business world, motivation is the word used to describe the drive that impels an individual to work. A truly motivated employee is one who wants to work, if employees know what strengthens and weakens their motivation, they can often perform more effectively and help themselves find more satisfaction in their jobs. Employers also want to know what motivates their employees so that they can encourage continued peak performance (Halloran, 1986).   A lot of research has been done on the study of motivation and it can be traced back to the writing of the ancient Greek philosophers. Hedonism has given a basic assumption in the prevailing economic and social philosophies of Adam Smith, Jeremy Bentham, and John Stuart Mill who explained motivation in terms of people trying to maximize pleasure and minimize pain.   Motivation is a personal drive to act in order to satisfy ones needs. It comes from within the individual. It creates a drive to act, which may be influenced by some external stimulus. Employee retention is an important factor in an organizations ability to achieve sustained competitive advantage over a longer period of time. Besides this aspect a failure to retain competent employees leads to a numerous other problems. Retaining good employees is critical to a firms long term success. In the engineering and business markets, employee retention is extremely serious since the job market is tight and competition is very intense for candidates. The main factors in retaining employees include, corporate brand identity, employee intention to remain, organizational culture, self-esteem, need for achievement. The cost of employee turnover adds hundreds of thousands of money to a companys expenses. While it is difficult to fully calculate the cost of turnover (including hiring costs, training costs and productivity loss) industry experts often quote 25% of the average employee salary as a conservative estimate. When an employee leaves, he takes with him valuable knowledge about the company, customers, current projects and past history (sometimes to the competitors).   Often much time and money has been spent on the employee in expectation of a future return. When the employee leaves, the investment is not realized. Customers and clients do business with a company in part because of the people. Relationships are developed that encourage continued sponsor ship of the business. When and employee leaves the relationships that employee built for the company are severed which could lead to potential customer loss. If an employee resigns then good amount of time is lost in hiring a new employee and then training him/her and this goes to the loss of the company directly which many a times goes unnoticed. And even after this a company cannot assure the same efficiency from the new employee.

Typical and Atypical Abuse Essay -- Physical Emotional Abuse Abusive E

Typical and Atypical Abuse Physical and emotional abuse can originate from any source but the majority of the abuse generates from parental or adult figures and is direct toward a timid figure, typically a child. The abuser commonly chooses a more timid recipient because they will be less likely to stand up against the abuser. Physical abuse is maltreatment that involves actual contact between one body part of a person and an other body part of an other person, such as hitting or slapping. Emotional abuse consists of just the opposite: maltreatment that is directed to harming the individual psychologically, such as negative comments or put downs (National Exchange Club Foundation, 2000). Regardless of whom the abuse is directed toward or whether its physical or emotional, it all causes several types of damage. Abuse is not limited to a specific type of community or to children (NAEYC, 1997). Three million children are victims of abuse each year. Each day three hundred and sixteen young children are arrested for crimes. Sixteen die from gun related wounds (Massey, 1998). The majority of these statistics are related to abused children from home settings, which will cause significant damage to how the child deals with everyday situations in settings out of the home. The effects of abuse tend to vary with different children but any type of abuse can cause serious damage. Not all children display the same responses to physical and emotional abuse. A few of the typical emotional responses include; showing excessive fear, extreme anger, low self-esteem, and an inability to trust adult figures. In contrast a few physical responses are difficulties developing speech patters, difficulties getting involved with other ch... ... situations, such as; gangs, drug abusers, and children that were abused but adults. But with programs, time and devotion the country is now lowering their numbers of each hazard that can cause harm to the students learning environment. Rose, M. (2002, February 22). TSL Education Limited The Times Educational Supplement. Abuse That Comes With a Smile for Not Making Waves, pp. 2 from the Academic Search/EBSCO database There are a few parents who choose to educate their children at home so the students will not come into contact with controversial topics. However, by home schooling, the parents unwittingly enforce social learning issues on their children because they will never feel comfortable in situations that deal with other people their own age. This proves the children need the social aspect of school just as much as the educational aspect.

History of Country Music

Velvet Stalnaker UNV 104 January 7, 2012 Professor Salcido History of Southern Music Southern music is now called country music and is popular in many different places. It is for people from all walks of life. But, when we look at country music today and from years ago is it the same? , When did it become popular? and , How has the music changed over the years? Southern music known today as country music became popular in the 1920’s. This was music that was based on folk music of cowboys in the southeast (Collins English Dictionary, 2003). In most of the early music the artist played stringed instruments like fiddles, guitars, banjos and some were even playing harmonicas. When this type of music started some people called it â€Å"hillbilly music† (Tower, 2000). Country music is in my opinion soothing and tells a story. Immigrants came to this world over 300 years ago playing and listening to what they called old world music. Most of the people that were playing this music were playing banjos and guitars. Southern music is still used today in churches all over the world it is called southern gospel. This type of music is used in funerals and also celebrations all over the world. Most people think this type of music is all about people crying about their lives. Many southern country songs tell stories about the singer. Southern music is used today in some schools and churches on a daily basis. Some government groups in the United States also use songs with southern background. â€Å"The south is the cradle of American music. †3 This can be seen through many types of music. Southern music is used in movies. Southern influence help to make popular songs like â€Å"Sweet Home Alabama†, â€Å"Free bird†, and â€Å"Still in Saigon† favorites among many different types of people today. Even though southern music is for hillbillies, southern music is very influential because southern music from the past is still used in lives today and southern music started many famous songs still used today. This is why southern music is not just for hillbillies. Reference Page 1- http://www. urbandictionary. com 2- http://www. wbir. com by Dave Paulson â€Å"The Tennessean† Who listens to Country music? 3- http:www. credoreference. com. library. gcu. edu:2048/entry/abcarcsouth/music Here is the section of the style guide that might help you with your citations. Source Citations All quotations, paraphrases, and summaries must be referenced. Only common knowledge does not need to be cited. When in doubt, cite the material. This is an issue of plagiarism; please reference GCU’s policy on Plagiarism in the University Policy Handbook. In-text citations should note the author(s) and the publication date for a paraphrase. For a direct quotation, citations should include author(s), date, and page number. See the following examples: â€Å"Ethics examines moral values and the standards of ethical behavior† (Ornstein & Levine, 2008, p. 162). Ornstein and Levine (2008) expressed their concern with NCLB and its effect on public education. Reference Examples: Books Book by a Single Author Author, A. A. (Year). Book title: Subtitle after colon. Location, State Abbreviation: Publisher. [Some publication locations do not require a state abbreviation or country. ] Daresh, J. C. (2004). Beginning the assistant principalship: A practical guide fo r new School administrators. Thousand Oaks, CA: Corwin. Book by More than One Author Author, A. A. , Author, B. B. , & Author, C. C. (Year). Book title: Subtitle after colon. Location, State Abbreviation: Publisher. Black, J. A. , & English, F. W. (1986). What they don’t tell you in schools of education about school administration. Lancaster, PA: Technomic. Hartzell, G. , Williams, R. , & Nelson, K. (1995). New voices in the field: The work lives of first-year assistant principals. Thousand Oaks, CA: Corwin. Edited Book Author, A. A. (Ed. ). (Year). Book title: Subtitle after colon. Location, State Abbreviation: Publisher. Feldman, P. R. (Ed. ). (1997). British women poets of the romantic era. Baltimore: Johns Hopkins University. Article or Chapter in an Edited Book Author, A. A. , & Author, B. B. (Year). Chapter or article title. In A. A. Editor & B. B. Editor (Eds. ), Book title: Subtitle after colon (pp. ). Location, State Abbreviation: Publisher. Grabe, W. , & Stoller, F. L. (2001). Reading for academic purposes: Guidelines for the ESL/EFL teacher. In M. Celce-Murcia (Ed. ), Teaching English as a second or foreign language (3rd ed. ) (pp. 187-203). Boston: Heinle & Heinle. Multiple Editions of a Book Author, A. A. (Year). Book title: Subtitle after colon (2nd ed. . Location, State Abbreviation: Publisher. Parker, F. , & Riley, K. (2004). Linguistics for non-linguists: A primer with exercises (4th ed. ). Boston: Allyn & Bacon. Book by an Organization Organization Name. (Year). Book title: Subtitle after colon. Location, State Abbreviation: Publisher. American Psychological Association. (2001). Publication manual of the American Psychological Association (5th ed. ). Washington, DC: Author. [Here, the organi zation is both the publisher and the author, so the word â€Å"Author† is noted in place of the publisher’s name. Reference Examples: Periodicals Article in a Journal Author, A. A. (Year). Title of article. Journal Title, Volume(Issue), Page numbers. Chappuis, S. , & Stiggins, R. (2002). Classroom assessment for learning. Educational Leadership, 60, 40-43. Arnold, J. B. , & Dodge, H. W. (1994). Room for all. The American School Board Journal, 181(10), 22-26. [The issue number is in parentheses; no space between the volume and issue. ] Article in a Popular Magazine Author, A. A. (Year, Month Day). Article title. Magazine Title, Volume(Issue), Page numbers. Mehta, P. B. (1998, June 6). Exploding myths. New Republic, 290(25), 17-19. Article in a Newspaper Author, A. A. (Year, Month Day). Article title. Newspaper Title, Page numbers. Schwartz, J. (1993, September 30). Obesity affects economic, social status. Washington Post, pp. A1, A4. Online Periodical Article Author, A. A. , Author, B. B. , & Author, C. C. (Year). Title of article. Periodical Title, Volume(Issue), Page numbers. Retrieved Month Day, Year, from URL Smith, B. M. (2004, June). What will you do on summer vacation? Phi Delta Kappan, 85(10), 722. Retrieved August 18, 2004, from http://www. pdkintl. org/kappan/k0406smi. htm Reference Examples: Electronic Resources Document from University or Government Program Web Site Author, A. A. , Author, B. B. , & Author, C. C. (Year). Title of web site. Retrieved Month Day, Year, from Organization Name, Specific Web Page: URL Woodford, R. (n. d. ). Successful practices for students with disabilities. Retrieved August 24, 2004, from US Department of Education, Improve Student Performance: http://www. ed. gov/teachers/how/tools/initiative/summerworkshop/lincolncounty/edlite-slide001. tml Stand-Alone Document Author, A. A. , Author, B. B. , & Author, C. C. (Year). Title of Web site. Retrieved Month Day, Year, from URL Black, C. (2011). Women and addiction: From Betty Ford to Amy Winehouse. Retrieved July 27, 2011, from http://www. psychologytoday. com/blog/the-many-faces-addiction/201107/women-and-addiction-betty-ford-amy-winehouse Stand-Alone Document, No Author or Date Title of page. (n. d. ). Retrieved Month Day, Year, from URL USA swimming. (n. d. ). Retrieved August 24, 2004, from http://www. usaswimming. org/usasweb/DesktopDefault. aspx

Roy Davidson s Death Of Pain - 1165 Words

Roy Davidson was thirty-one years old when he went to his doctor complaining of intense pain in his stomach. He was told that he had a severe case of bleeding ulcers and that surgery would only complicate the condition, causing extensive damage. Roy had to live with the pain. He slept with it, ate with it, worked with it, and changed his life to revolve around the ulcers. Eventually, quitting his job, he decided to go on a mission trip in Haiti. While in Haiti, Roy experienced the worst pain he had felt since receiving his diagnosis. The ulcers were so bad that he was not able to go to the worksite. His companions on the trip offered their prayers to Roy, but he declined, thinking that their simple prayers would not be enough to impede†¦show more content†¦Humans are wrong about a lot of the things. Roy was wrong when he dismissed the power of prayer. In Kathryn Schulz’s Being Wrong, she remarks that the scientific field â€Å"is littered with discarded theories† (9); the earth is not the center of the universe and nor is it flat. People are not always who we think they are and, despite some believing it to be impossible, sometimes the underdog prevails. There is an abundance of doubt and error to be encountered everyday. However, there are a few things that we are able to know with our whole being. Believing in something greater than the human race is something that Schulz’s wrongology cannot touch. It is evident to many, like Roy and myself, that God’s healing power is a whole-hearted, honest truth. Part of having faith is that you are able to believe in God without doubt, even when others do not. Although there is skepticism and disbelief by strangers, close friends, or even your own family, this belief must be strong enough that you can follow Him without needing the approval of other people. Facing the shortcomings of our own beliefs is something that Schulz preaches throughout Being Wrong. Knowing that something is true with complete faith, like the way that I believe in God, is not a feat that is easily accomplished. Faith can be instilled, but it must be something that eventually becomes self-evident. I was

The Marketing Plan Of San Juan Islands - 2113 Words

2. INTRODUCTION San Juan Islands, an archipelago part of the US’ state of Washington, have been well-known since the early 20th century for its scenic nature and abundant wild life. Their landscapes have transformed a rural county into a popular tourist destination and have continuously been invented and commodified for tourism. In 2014, tourist expenditure reached almost US$200mn, generating jobs and services in the whole county. Previously to the establishment of the current DMO in 1999, San Juan Islands Visitor Bureau (SJIVB), there were a scarcity of resources devoted to tourism and a passive approach in promoting the Islands. Under the management of the DMO, the county has risen to become America’s favourite place for retirement. The purpose of this report is to evaluate the 2016 destination marketing and budget plan of San Juan Islands, drawing on Middleton et al. (2009)’s marketing planning process. This report will also give recommendations regarding the marketing resear ch and sustainable tourism management. 3. 2016 DESTINATION MARKETING AND BUDGET PLAN OF SAN JUAN ISLANDS This section will be dedicated to the evaluation of the 2016’s destination marketing plan of San Juan Islands that sets out goals and concrete strategies at operational level for a short-term period. The evaluation will draw on Middleton et al.’s (2009, p.207) eight logical steps of the marketing planning process and other relevant literature. 3.1 Diagnosis Middleton et. al (2009) argue that theShow MoreRelatedMarketing Research And Sustainable Management Practice2285 Words   |  10 Pagesas tourism, marketing research, an integral part of marketing planning process, plays a crucial role in shaping a framework that guides Destination Management Organisations’ (DMOs) decisions, be it public or private. At operational level, market intelligence would help DMOs gain market insights, bridge the gap between tourism products and visitors and potentially explore new markets. Without market data, goal and objectives would be unrealistic thus resulting in inefficient marketing programmes.Read MoreJetblue Airways Corporation ( Jetblue ) Essay789 Words   |  4 Pagesrevenue passenger miles. According to the JetBlue website (2014) in 1999, David Neeleman announced his plans to launch a new airline, â€Å"New Air.† By the end of 2000 JetBlue had reported $100 million in revenue and by 2001 it posted a profit (JetBlue.com, 2014). Headquartered in Long Island City, New York, JetBlue is one of the leading carriers in Boston, Fort Lauderdale, Los Angeles, Orlando, and San Juan (JetBlue.com, 2014). With over 30 million passengers and more than 300,000 flights reported in 2013Read MoreAirline Companies : The United States1064 Words   |  5 PagesFort Lauderdale, Los Angeles, Orlando, and San Juan, (JetBlue.com, 2014). With over 30 million passengers and more than 300,000 flights reported in just 2013, JetBlue is one of the only two airlines that have reported increasing numbers in flight and passenger volumes year after year, despite the adversities that exist in the airline industry, Bureau of Transportation (2014). According to the JetBlue website (2014), in 1999, David Neeleman announced his plans to launch a new airline, â€Å"New Air† at theRead MoreThe Modern Port Of Miami Essay1831 Words   |  8 Pagesa desperate entrepreneur and businessman, Ted Arison, to the young head of a family shipping company, Knut Kloster. It was November 1966, and Arison had just lost the two Israeli passenger car ferries, the mv Nili and the mv Bilu, that he was marketing on cruises from Miami to the Bahamas and Jamaica. Kloster’s Sunward was out of service undergoing guaranty work in Bergen before planned winter cruises from Southampton, England and Cherbourg, France to Portugal, Spain and Morocco. Five monthsRead MoreEvolution Of The Cruise Industry Essay2010 Words   |  9 Pagesa desperate entrepreneur and businessman, Ted Arison, to the young head of a family shipping company, Knut Kloster. It was November 1966, and Arison had just lost the two Israeli passenger car ferries, the mv Nili and the mv Bilu, that he was marketing on cruises from Miami to the Bahamas and Jamaica. Kloster’s Sunward was out of service undergoing guaranty work in Bergen before planned winter cruises from Southampton, England and Cherbourg, France to Portugal, Spain and Morocco. Five monthsRead MoreCalabarzon Case Study2739 Words   |  11 Pagesto attain these goals at national level, but may not be applicable to CALABAR, which is expected to develop more rapidly than the national average. (2) Government Development Objectives for Region IV The Medium - Term Southern Tagalog Development Plan, 1987 -92 was prepared by the National Economic and Development Agency (NEDA) region IV office, following the NEDA central offices guidelines. The latter clarify the socio - economic goals to be pursued by any region, generally in line with the nationalRead MorePepsi Cola Philippines Feasibility Study5554 Words   |  23 PagesTrucking Business Plan Project/Business Introduction Pepsi Cola Products Philippines, Inc. Company Overview We are the BEVERAGE COMPANY OF CHOICE - preferred by customers, trade partners, investors amp; employees of the Philippines. As such, we continuously delight them by offering quality beverages at best value, for every drinking occasion. We are a happy team in our workplace as we build a sustainable and profitable business, providing healthy financial rewards to our shareholders, and opportunitiesRead MoreBlood Bananas10217 Words   |  41 Pagesand Mary Teagarden, with the assistance of Monika Stoeffl, for the purpose of classroom discussion only, and not to indicate either effective or ineffective management. This document is authorized for use only in Estrategia 2013-I Preg. Montes by Juan Carlos Montes at UNIVERSITY DE LOS ANDES COLUMBIA from January 2013 to May 2013. Chiquita’s lead defense attorney, Eric Holder Jr., snapped back, accusing Malis of shading the facts, of â€Å"being a little too cute and a little too crafty,† as well asRead MoreHard Rock Cafe Case Study5960 Words   |  24 Pagesin the heart of London has blossomed into a way of life. Hard Rock began its global expansion in 1982, when Tigrett and Morton agreed to develop their own Hard Rock Cafes in various parts of the globe. Morton opened Hard Rock Cafes in Los Angeles, San Francisco, Chicago and Houston. Tigrett opened in New York, Dallas, Boston, Washington, D.C., Orlando, Paris and Berlin, eventually selling his interest to Mecca Leisure. In 1990, The Rank Group, Plc. a London-based leisure company, acquired Mecca andRead MoreHard Rock Cafe Case Study5950 Words   |  24 Pagesin the heart of London has blossomed into a way of life. Hard Rock began its global expansion in 1982, when Tigrett and Morton agreed to develop their own Hard Rock Cafes in various parts of the globe. Morton opened Hard Rock Cafes in Los Angeles, San Francisco, Chicago and Houston. Tigrett opened in New York, Dallas, Boston, Washington, D.C., Orlando, Paris and Berlin, eventually selling his interest to Mecca Leisure. In 1990, The Rank Group, Plc. a London-based leisure company, acquired Mecca and

Industrial Revolution Essay - 1000 Words

No person will make a great business who wants to do it all himself or get all the credit. (Carnegie) One of the major characteristics that define the success of this Golden age was that of the onset of the multitude of inventions that played a major role in the reformation of agriculture and lifestyle.The transformation of the United States into an industrial nation took place largely after the Civil War and on the Britsih model. Although the Industrial Revolution brought many positive inventions, the class divisions were obvious because the workers were paid at horrible wages. The Industrial Revolution, wages, and class divisions were all part of the economic power. The Industrial Revolution started in Great Britain, and†¦show more content†¦There were men who worked in factories who were not payed very much, but did earn more than the women who worked in the factories. ...women recieved $4 a week for work for which men were paid $16 a week. (Goldfield 60) Weekly men made less than $20. The conditions the workers were in were horrible. It was often unsanitary, and education suffered because of the demands of work. With workers barely making any money, there were many poor families who struggled to make a living. As the Industrial Revolution era progressed, social divisions in America became more apparent. The upper class basically had what they wanted and did not have to worry about not affording anything. The upper-class made their money in new industries, such as steel, mining, or railroads. There were many rich Americans who were selfish with their money, but some wealthy people did support social causes. ...had escaped military service in the Civil war by paying $300 to a substitute.(Zinn) The middle-class consisted of professionals, lawyers, physicians, editors, and editors. This newer middle-class set national trends in residential patterns, consumptions, and leisure.(Goldfield 76) The middle-class were able to live in all-electric homes, with indoor plumbing, and appliances that made food preparation easier. The middle-class were able to afford to take trolleys, trains, and even had a telephone in there house. TheShow MoreRelatedEssay on Industrial Revolution1489 Words   |  6 Pag esenvironment. Industrial revolution was so fundamental that it’s often compared with the transition from farming to stock raising, which began several thousand years before the birth of Christ. Considering the uses of natural resources, can human history be dived up into three pieces of varying length; hundreds of thousands years before â€Å"the agricultural revolution†, thousands of years between this and the Industrial revolution and the two hundreds years after the beginning of Industrial revolution. BeforeRead MoreIndustrial Revolution Essay766 Words   |  4 PagesAmerican Industrial Revolution In the 19th century, America became an industrial country, the powered machinery shifted the industry into mass production. The development of steam engines improved the transportation system, further, increased the production of iron and steel. The textile industries have begun to develop, and produce various products. The industrialization leads to accessible banking, further, deliver telegraph communication to many businesses through locomotive trains. This essayRead More Industrial Revolution Essay1623 Words   |  7 Pageshuman culture since the advent of agriculture eight or ten thousand years ago, was the industrial revolution of eighteenth century Europe. The consequences of this revolution would change irrevocably human labor, consumption, family structure, social structure, and even the very soul and thoughts of the individual. This revolution involved more than technology; to be sure, there had been industrial quot;revolutionsquot; throughout European history and non-Eu ropean history. In Europe, for instanceRead MoreEssay on Industrial Revolution1279 Words   |  6 PagesIndustrial Revolution Europe during the eighteenth century was at the height of the industrial revolution, none of which reached America. In New England the population was largely English, but America as a whole had more than 20 ethnic strains present, nowhere in Europe could such a heterogeneous mixture be found. America was unique in its political structure. Americans vested authority in personalities, rather than, as in England, in institutions of tradition. As a people they had been stripedRead MoreIndustrial Revolution Essay841 Words   |  4 Pages19th century, a period of industrial revolutions transformed the west as it is known and the people living there. The first and second industrial revolutions shaped the west as it is today through changes in manufacturing, labor, and the exchange of ideas and goods. Inventions and ideas of the time changed the way goods are made. Advances in manufacturing, whereas previously, families would work in their homes and rural farms with many workers, after the industrial revolutions, manufacturing was doneRead MoreIndustrial Revolution Essay734 Words   |  3 PagesDue to the Industrial Revolution, many changes started occurring in this new era such as the factories began to use more mechanics, limiting skill needed to produce products as well as hastening the harvesting of raw materials. Secondarily there was a huge standard of living and wage drop in cities due to urbanization which occurred after the factories created an abundance of jobs. Also, there was a huge shift in the population and there was a massive population growth due to the excess food andRead MoreEssay on The Industrial Revolution1366 Words   |  6 PagesThe Industrial Revolution Introduction to the Revolution The Industrial revolution was a time of drastic change marked by the general introduction of power-driven machinery. This change generally helped life, but it had its disadvantages as well. Pollution, such as Carbon Dioxide levels in the atmosphere rose, working conditions declined, and the number of women and children working increased. The government, the arts, literature, music, architecture and mans way of looking at life allRead MoreIndustrial Revolution Essay763 Words   |  4 Pagesï » ¿ The Industrial Revolution The Agriculture Revolution was a time when people worked the land by using simple hand tools. By the 1800’s, most people in Western Europe and the United States lived on farms. 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To begin, industrialization was the instigatorRead MoreThe Industrial Revolution Essay847 Words   |  4 PagesThe Industrial Revolution During the 1800s, phenomenal changes took place in America. These changes would impact our society incredibly for years to come and even still in the present. The major changes that took place were in transportation and industry. American society expanded so much in the early 1800s that it very well could have been the only time in history where this happened in such a short amount of time. From steamboats to railroads and from textile mills to interchangeable parts

Economic Phenomenon Analysis with Examples for Demand and Supply Model

Question: Describe about the Demand and Supply Analysis for Economic Phenomenon ? Answer: Introduction Demand is an Economic Phenomenon that refers to the want of consumer and a price that the consumer is willing to pay for a particular services and goods. Keeping other factors constant, when the price of any good increases, demand for that good will decline (Colander, 2006). So, there is a negative relation between price and quantity demanded. The demand function can be written as: P= f (Qd), where Qd= Quantity demanded and P= Price. In Economics, Supply is a fundamental concept that refers to the entire goods and services which are available to customers at a specific price. Other things remain equal when the price of any particular good increases then suppliers will produce more goods to fulfill their objective of profit maximization. Thus, there is a positive relation between these two. The supply function can be written as: P= f (Qs), where Qs= Quantity supplied and P= Price (Slavin, 2008). Hence, one can get market equilibrium where demand and supply matches. In this point, market price, demand, and supply are stable; but sometimes it can be seen that product allocation is not efficient in the market, that is, the existence of imaginable result where a person can be better off but not making anybody worse off. In this situation, quantity demand and quantity supplied are not equal due to lack of possible factor which prevent the equilibrium (Zhang, 2015). In the next part, the researcher can describe all possible reasons of market failures and also determine the gold price by considering the analysis of demand, supply, and market failure. Also, he will try to find the negative externality that arises for the use of the personal car. Investigation of Market Failure by using Demand and Supply analysis Demand refers to the desire of buyers and a price that the buyers are willing to pay for a particular services and goods. Supply is an economic phenomenon that refers to the entire goods and services which are available to customers at a specific price. Considering these two, one can say that market equilibrium occurs where demand and supply coincide with each other (Frank, 2010). In figure 1, market equilibrium is shown. In the horizontal axis, quantity is shown and in the vertical axis price is shown. Figure: 1 In this figure, P* and Q* are the equilibrium price and quantity respectively. Causes of Market Failure Sometimes it can be seen that free market cannot allocate the scarce resources in an efficient manner. It occurs due to some reasons like negative externalities, monopoly power, etc. which are explained below. Allocative and productive inefficiency When the markets cannot allocate and produce possible scarce resources in an effective manner, then there may be a chance of market failure (Krugman, 2014). Missing markets When the markets fail to form, there is a chance of market failure; because it cannot meet the willingness for public goods (highways, lights on road etc.) Negative externalities This term refers to the cost that suffers the third party resulting from economic deals. In any economic deals, the first party and the second party are customers and producers and the third party may be any individual or any company who are affected by the externalities. In this case, producers, as well as consumers, fail to determine the effects on the third party for the actions taken by them. For example, pollution is created by the industries and it affects the individual or the society. Information failure The markets may not serve all possible information during market deals. So, another party may not have an interest in the transaction. This will lead to a market failure. Inequality Sometimes, the markets also fail to manage the huge gap among earners. This is known as Income-gap. In market deals, both producers and consumers are benefited with profits and incomes respectively. But the main problem is that benefits are concentrated among very few people which leads to market failure. Instability in markets The unstable market situations also lead to market failure. Sometimes it can be seen, stable market equilibrium cannot be established in volatile market structure (Share market, foreign exchange markets etc.). Monopoly Power Monopoly power is another reason of market failure. Monopolists have full control over price. They set the price according to the objective of profit maximization. This high prices may create market failure (Sunderasan, 2012). To determine the gold price, the researcher should determine the market failure. Determination of gold price By considering the trading, mining, recycling and selling the metals, it is highly important to understand the pricing of the metals. But this is not so easier to value the metals. In this part, according to the question, the researcher will determine the Gold. To determine the gold price, some questions should be answered, those are: what is called fixing, who sets the price of gold, what are future price and sports price, etc. What are Fixings? The fixing is done in a daily basis and it is an agreement among individuals on the similar sides in any market to sell or buy gold at a fixed price or managing the market states that is how the price is determined by the intersection of supply and demand. Throughout the process when orders are adjusted, there is ups and downs in the price level of gold. This process will continue until the orders are fulfilled and the price level is fixed. In March 2015, the London Gold Fix had discontinued and then replaced by LBMA price of gold. ICE Business Administration is known as IBA and had selected as administrator of LBMA price of gold (Shafiee and Topal, 2010). An electronic auction method is organized by IBA to evaluate the LBMA gold price. It is administered and traded in an independent manner. Sometimes the auction is physically and electronically settled and it is conducted in dollars with anonymous and aggregated offers as well as is being published in real time. The LBMA price of gold is set two times in a business day in US dollars. Figure: 2 Source: (MALI, 2014) Factors that help in determining the gold price Gold is used as a consumer good. By examining previous data, it can be suggested that UK has more interests in gold among all metals and it has indicated that the demand of gold in the UK has increased over the years. When an economic progress of the country is in boom then it increases the disposable income of people and demand for gold among people is rising day by day. Being a luxury material, the Golds income elasticity of demand is greater than 1 and it describes that a rise in income increases demands gold among people. A higher income will lead to higher demand of gold which increases the demand for gold at a higher rate (Parsons, 2010). Investment of gold is also considered in this section. For profitable investment purposes, Gold can be used as the very important metal. The retention rate of gold also remains high during inflation. So, suppliers, producers or individual use this metal in their investment purposes. Individuals store gold for bad times. From 2006, the gold price moved up as investment demand was keep rising. Another factor can be the value of the dollar which can determine the price of gold. In international trade, US dollar is used as supreme currency. There is a negative relationship between gold value and dollar value. In September 2014, the dollar index of US had increased by 2 units, and thus, buying of gold was considered as strong dollar because many options of purchasing were there (MALI, 2014). Many countries control the exchange rate in terms of dollars for its huge worldwide demand. Generally, individuals are confident enough and have higher tendency to buy USD assets. But the negative side of USD assets is that those are over exposed than gold. So, households preferred gold for investment. People were more confident about gold because paper currencies are more volatile in nature. Figure: 3 Another determinant is interest rate which affect the gold price. The positive side of gold is that this metal does not have to bear any interest rate, but it affects the global interest sometimes during fluctuations. The gold price will fall when the interest increases because investors will choose another option of investment by selling gold to gather reserves. When the rate of interest starts falling, there is a tendency that price of gold will increase and this will lead to increase the holding of gold than cash because gold holding will lead very low cost (Baur, 2014). The gold price may be affected for inflation too. By holding investment, this metal works to prevent the rate inflation. The paper currencies are volatile in nature and the value is decreasing over the years but the gold value is increasing day by day. In the long run, investment of Gold is considered as a stable investment option because Gold is associated with low risk compared to paper currencies. Even after 50 years, the paper currencies can retain its value but in reality, the situation is not the same. So, individual and households try to invest gold rather than the paper currency which affect the price of gold. In this context, it can be said that investors are motivated to invest more in gold during hyperinflation and less in paper currencies as gold serves hedge against inflation (Yaacob and Ahmad, 2014). It is known that Gold is often used as the substitute of the stock market. Although the purchasing of shares has many positive sides as shares give a higher return and help to increase the growth. But in an economic recession, the value of shares has decreased. Hence, risk-averse investors will prefer to buy gold instead of shares because invest in gold will give a positive return and this is safe for them. This speculative nature is also a helpful measure to determine the gold price. Variations in Gold supply affects the price of gold. According to the law of supply, the gold price can be determined that is a sharp rise in production of gold, the price is of gold will fall and vice versa. In this context, it can be said the supply of gold is stable in the economy. The countries who have effective supply generally have lower prices and vice versa. The variations in price will occur due to variations in gold demand and supply. Thus, it can be concluded that the law of supply and demand used as a major factor in determining the prices of gold worldwide. Negative Externalities due to the uses of personal cars Two kinds of externalities can be seen: negative externality and positive externality. This term refers to the cost that suffers the third party resulting from economic deals. In any economic deals, the first party and the second party are customers and producers and the third party may be any individual or any company who are affected by the externalities. It considers that when manufacturing firms are using some old technologies, then the third party may be negatively hampered. Rationally, these costs are not included in the economic cost. Thus, one should identify the costs properly (Acharya and Bisin, 2011). Figure: 4 The effects of negative externality are not only on the owner, but it also affects those who are generally not associated with the externality of goods producing. The results of these externalities are situations resulting in market failure. Negative Externalities are triggers of third party effects. Negative Externalities generally takes place out of market i.e. they affect people not involved directly with the production or consumption of goods or services. Spill-over costs are the other name by which they are known. When demand for cars increases, there is also an increasing supply of cars by different firms in the market. High demand of cars will produce large scale pollution which negatively affected the society as well as those people like street shopkeepers, individuals who are going to work etc. Air pollution that is made daily by the cars smokes which adversely affect the health of people (Baofu, 2012). There is a larger probability of a rise in urban flooding which is made from negative externality. Urban flooding in every year may arise due to the high desire for roads by personal cars. This reduces the soaking capacity of the areas where the cars are used most and thus, in rainy season frequent flooding in urban areas can be seen. Congestion is another negative externality arising from the personal use of the car.Congestion is not limited to road network but negative externality arises by congestion due to personal cars is also evident in busy transport networks as well as crowded areas.There is the classical excess in demand situation compared to supply for the personal cars by households where each household wants its own personal car. When there is an increase in income, there is a large demand for personal cars which is a luxury good, since people want to buy more cars as income increases. As space on the busiest platforms and on the crowded trains is limited and small the demand for cars also increases (Nagler, 2013). The congestion which is made by personal cars can increase the problems for commuters and this can cause increasing problems like people cannot reach their destination on proper time due to congestion on roads. Traffic congestion is another negative externality that is faced by other individuals on the road (Centemeri, 2009). In a free market structure, individuals are taken into account their own benefits and the consumption level will take place where MPB=MPC. Consumers net benefit is maximized under this condition. However, this is not the socially optimal level of road space should be attained at MSB=MSC. The main reason behind it that there are negative externalities which are linked with the higher utilization of roads. The overuse of limited space in a free market creates a complete deadweight loss for society. Cars create noise as well which is a direct effect. Noise pollution is another types of a negative externality that can arise from the high use of cars. It can be seen that a large number of cars and they honk in traffic in a daily basis and this traffic is disturbing for the individuals that the people work on the both sides of the road. In this context, it can be said that government can reduce the negative externalities in many ways like it can impose a tax on noise pollution or air pollution, can charge costs from car owners. This remedies can be discussed below. To reduce the negative externalities, the government can charge costs of creating congestion. This can be an effective measure because when individual cars made more traffic, they have to pay a large amount to the government. This is one of the best policy from demand side to reduce congestion on limited size roads. This policy was implemented by Singapore for the first time and they also took some effective measures on road pricing (Chen, 2010). Advanced methods of electronic toll collection can be helpful to reduce the uses of personal cars. These useful measures have also been implemented in Rome and London and it can be seen that there was a noticeable improvement in congestion among these countries. Another way of pricing on congestion can be the rationing of road space. Road size rationing an effective method that stringent rules for car drivers and it is the better option than congestion pricing (NAGLER, 2011). Conclusion In conclusion, the researcher can that demand and supply analysis is seen in determining the price of gold. There are various factors like investment in gold, stock and share prices, consumption of gold, interest rate, inflation etc. which play a crucial role to determine the gold price. Gold price is determined in terms of USD as in exchange rate market, countries are comfortable to take it. The researcher also comes to know about the term Externality. Here, market failure analysis can be used to discuss the negative externality (Centemeri, 2009). The negative externality can be seen in the higher use of personal cars as it creates smokes which lead to air pollution. It also leads to noise pollution because cars are honking in the traffic. But there are some solutions to overcome the negative externalities by imposing a tax, road size rationing etc. References Colander, D. (2006). Microeconomics. Boston, Mass.: McGraw-Hill. Frank, R. (2010). Microeconomics and behavior. New York: McGraw-Hill Irwin. Slavin, S. (2008). Microeconomics. Boston, Mass.: McGraw-Hill. Zhang, W. (2015). Reflections on economics: market failure or market theory failure?. China Economic Journal, 8(2), pp.109-121. Acharya, V. and Bisin, A. (2011). Counterparty risk externality. 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