Minimum or living wage on unemployment Essay Example | Topics and Well Written Essays - 2000 words

Minimum or living wage on unemployment - Essay Example Consequently, minimum wages stifle job vacancies for the minorities, low-skill workers, and the youth. In view of this, the essay classically analyses the impact of a minimum or living wage on unemployment. Minimum wage policies originated from Fair Labour Standard Act (FLSA) which was signed by President Franklin Roosevelt in 1938(Waltman 2004, p.141). During that period, the act covered specific areas in production industry, which include transportation, mining, and manufacturing industries. However, as time went by, other sectors of the economy were added such as public schools, laundries, and construction industry. Currently, the act covers over 85 percent of the labour force. Thus, the state requires employers to comply with the minimum wages set by the state. Minimum wage policies affect the overall economy. Employers are forced to change their living standards to ensure that they accommodate the increase in the minimum wage. Although the government has set a specific level of minimum wage payment, there is only a specific group that is affected by the law. Most employees who get the minimum wage are part-time workers, young workers, and people from poor families. Companies employ people are highly skilled and can perform different tasks at the same time. As a result, some of the workers have lost employment as a result of specialization or lacking the skills that are required in a company. Most employers employ the experienced workers living out the young people who are inexperienced. Thus, most young people are unemployed who paid minimum wages in their areas of work (Waltman 2008, p. 152). A research done by the Bureau of Labour Statistics shows that, 1.8 million employees are paid minimum wages. 49 percent of 1.8 million are the young adult aged 24 and under. 51 percent, or about 1.8 million people are over 25 years old (Rutkowski&Scarpetta 2005, p. 2009). They consist of

Discuss the role of multinationals in the globalisation of innovation Essay - 1

Discuss the role of multinationals in the globalisation of innovation - Essay Example Strategies employed by MNEs in the globalisation of innovation One strategy used by MNEs is foreign direct investment (FDI) where MNEs acquire existing assets abroad or set up new wholly or majority owned investments abroad. Other modalities of spreading innovation by MNEs include trade, licensing, cross-patenting initiatives, and international scientific and technological collaborations. Trade involves the exchange of sophisticated products such as electrical and electronic products, precision instruments, fine chemicals and pharmaceuticals (Narula and Zanfei, 2003, P.7). Exports of such products and especially information and technology products worldwide rose from 8% in 1976 to 23% in 2000. The massive increase in the share of world trade represented by research and development intensive sectors signals an increase in globalisation of innovation (Narula and Guimon, 2009, P.5). There has been a steady growth in international patenting trends characterised by non-resident patenting, which is patent applications of foreign investors in a country, and external patenting, which is patent applications of national investors abroad. ... STPs are more common in the domain of biotechnology, new materials and information technology and oftenly involve Triad nations rather than emerging economies. Developed nations’ firms take up over 90% of STP agreements while the share of STPs involving developing country firms is in the range of 5-6%. 70% of all STPs have had at least one US partner since 1960 (UNCTAD, 2005, P.51). The concentration of STPs in highly industrialised countries together with the involvement of American firms can be attributed to the fact that industrialised countries are the largest investors in R&D (Welfens, 1999, P.342). As a result of government regulation, some MNEs are forced to adopt STPs in place of internal innovation. Such situations include where firms form R&D alliances aiming to enter foreign markets protected by non-tariff barriers such environmental regulation in the chemical industries or safety standards in the automobile industry. STPs are common where partner companies share co mplementary capabilities and the integration creates a greater degree of interaction between the partner’s respective paths of learning and innovation. Cooperation helps firms keep up with technological advancements and assists firms in exploring and exploiting emerging technological opportunities (Chen, 2003, P.397). MNEs engage in considerable intra-firm and inter-firm trade with industrialised countries, and this contributed almost 90% of all outbound FDI in 2001. Most of the firms engaged in FDI are also key players in the generation and diffusion of innovation. Over 30% of the top 100 MNEs are involved in R&D intensive industries such as electronic and electrical equipment,

Management Accounting Essay Example | Topics and Well Written Essays - 1500 words - 10

Management Accounting - Essay Example The two sections are not independent of each other and they are intertwined so as to work properly in achieving the specific goals they have been designed to. In the fast changing world and the high cost of business managers have to set up budgets for what to invest and understand the priorities to focus on. A budget is the plan set by the organization for the forthcoming period and it is designed at different level of the organization. The top management focuses on the master budget which is more detailed and requires integration and coordination of every part of the organization. The primary role of budgeting is systematic planning (Taylor III, 2013). The challenge of setting up a good master budget focuses more on the people hired to do and how they ensure they also are concerned with the macro while also being detailed to the micro management priorities of the business. Contrary to organization budgeting is not forecasting but is more of a leadership role of accompany than a financial one (Mettanen, 2005). Transaction cost economics this is the most complicating accounting calculation top managers’ face. It needs a lot of time and is more complex and it is widely used to decentralize multinational organization it involves understanding the tax related issue within the geographical area as well as ensuring that the cost incurred for raw materials is up to the required and that reducing operating cost (Laitinen, 2002The objective of this transfer cost is more of ensuring proper resource of allocation as well as minimizing cost and also having a competitive advantage over the rest of its competitors. Preparing of benchmarking involves a lot of consideration and managers in this have to understand the qualities required for the benchmarking and how to rate and rank the staff. The challenge when embracing this can lead to employees who think they are sacked. This requires

Clinical Decision-making in complex care i.e Identify a clinicaL Essay

Clinical Decision-making in complex care i.e Identify a clinicaL decision that you have been involved in - Essay Example The family had a hard time to decide on the removal of life-support systems and the changeover to palliative sedation. The nurse manager advised me to empower the family to make the decision required of them. When I told her that I had never before handled this situation, she advised me on how to do it and convinced me that I would be able to achieve the target and that my few years of experience were sufficient. My feelings The message that I received today was that this situation was a common occurrence and I had to be prepared. I was feeling unhappy that I was not competent enough to handle the situation. It was the nurse’s duty to empower the family in times of crises. With the intention of redeeming myself, I needed to use evidence-informed decision-making in this frequently occurring situation in my practice (Brown et al, 2009). This day had been conducive to my learning a new experience which had stimulated me to further my comprehension of bioethics and empowerment of family members of end-of-life patients. Evaluation This often-occurring situation in the nursing profession and its solution was revealed to me today. That I needed to learn much more to become competent was another revelation. Both of these appeared good to me as I could learn from experience. Another good thing was that I had the support of my seniors. The fact that I was not confident enough to handle this crisis was the bad part but I take this as an opportunity to think positively and find ways to solve this problem so that I am equipped to cope with it at any moment in my profession. Analysis Clinical decision-making could also be termed clinical reasoning, judgment, inference or diagnostic reasoning (Hardy and Smith, 2008). Clinical decision-making could be defined as the process of making an informed judgment over the treatment necessary for patients. Intuition as a form of reasoning had been associated with clinical decision-making (Nyatanga and De Vocht, 2008). Clinical de cision is a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from scientific literature to arrive at a diagnosis and treatment recommendation. Participants, process, an outcome and setting formed a major portion of the nurses’ clinical decisions (Gurbutt, 2006). Clinical reasoning was the process by which the judgments were made. The judgments were difficult propositions and could be managed only if the nurse could understand the salient details and difficulties of a situation (Tanner, 2006). She should also be able to interpret and respond accordingly. In today’s situation, I should have been able to understand the illness and end-of-life experiences of the family when I reached my station, much before the actual situation arose. Their emotional strengths, physical health, social well-being and coping mechanisms should have been gauged before the crisis (Tanner, 2006). Clinical decision-making affected the qual ity of care for the patient and his safety. In fact it had been described as the essential component for professional nursing care (White, 2003 in Hagbaghery, 2004). The resolution of family conflicts and the provision of information on care provider services were also a part of the decision-making. The decision- making performance of the nurse and her capability of reaching heights were hindered by various interruptions expected in a hospital atmosphere (Ebright et