My Favourite Holidays

My Favourite Holidays This is a pretty difficult topic to write on, since I tend to love all of the holidays! As soon as it hits October, I am floored for every holiday between Halloween and New Years. Growing up, it was all about what I would get as gifts on these holidays or the fantastic family dinners. I get excited for Fall, the local Algonquin Mill celebration, the beauty of all the leaves changing, the smell of them burning in the evening, the streets teaming with Trick-or-Treaters on Halloween. I remember how exciting it was to wake up early on Christmas morning and sneak around the brightly lit tree, hoping not to wake up Mom, trying to guess what was in each colorful package with my older sister. I also remember the frustration of not being able to fall asleep because I was so excited. With all of these holidays, I know that everyone has their favorites. There are many different traditions that people follow but are we really celebrating these holiday traditions in the right way or even for the right reasons? Just the entire season would be my favorite time of year, but I shall focus on Halloween, Thanksgiving, and Christmas. Halloween, though it is known for its fun colors and costumes and gorging yourself on candy, actually started out as a Celtic holiday. The Celtics began celebrating this holiday because it was the last day of their winter solstice and apparently they just wanted an excuse to party since this also meant that they were done with the yearly harvesting time. Also, this day was used as a day to honor loved ones who had passed on, since it was said to be the day that the veil was lifted and the dead were able to once again walk with the living. The day after became celebrated as All Hallows Eve which marked the end of the dead being able to walk among us, at last until the next year. Nowadays we parade around in skimpy outfits in cold weather, attending parties to drink and be judged in our costumes. Speaking of drinking, my favorite Halloween myth would be that of the origin of pumpkins, or rather, Jack-O-Lanterns. The legend actually involves a hollowed turnip, the Devil, and a man named Stingy Jack. Stingy Jack, the stereotypical Irish drunkard, was known as a manipulator and loved to trick people. This brought him into contact with the Devil who went to collect his soul after hearing of all of his bad deeds. But, Jack was sneaky. He managed to trick the devil up into a tree and trap him there by carving a holy symbol, a cross, into the trunk of that tree. The Devil, demanding his release, agreed to Jacks demand that his soul would never be taken into Hell for all of his past misdeeds. This comes back to haunt poor Stingy Jack as when he does eventually die, he is not allowed into Heaven because of those same deeds, and the Devil had promised not to take him! He did, though, give Jack an ember, which Jack then carried around in a hollowed out turnip, doomed to roam the earth forever. Now, though, the turnip is a pumpkin and this year, my sister carved hers to make it look like it ate a Trick-or-Treater. Not exactly following tradition, is it? I would say that this would be a nice moralist story to tell our young ones since it shows that there are often bad consequences to bad actions. My second favorite holiday would be Thanksgiving. My family has a three day tradition for this holiday, which I got to join when I turned 21. The night before Thanksgiving, we go to the local bar for the band that plays there every year. Then, we wake up the next morning, more than likely hung over, and cook our Thanksgiving dinners, attending the big family meal in our pajamas because we are so exhausted from the night before. Afterwards, we all lapse into a turkey-coma and wake up early the next morning for the biggest shopping day of the year! Now, Im sure that this is not the same as everyone elses traditions, and I know it is definitely not the same as the real reason for Thanksgiving. Thanksgiving, another harvest festival, like Halloween, is a holiday in which people are supposed to express how thankful they are for their family, friends, and everything else they have. Growing up, I remember coloring the Pilgrims and the turkeys made out of hands. This was also back when we we re still allowed to pray in school, so our class would have our lunch of turkey slices and mashed potatoes and gravy and say a prayer together. A lot of the religious value behind this holiday has been lost. Lately, it seems to be all about the football game, the big meal, and the shopping ads for the next day race to Christmas. I am sure that if the holiday were observed properly, if we were asked each Thanksgiving to give a list of things that we are thankful for, people might just focus on the more important things in life: family and friends and their own idea of religion. This brings me to Christmas which is another of my favorite holidays. I love the snow on the ground- as long as I dont have to be in it- the colors everywhere, the Christmas carols on the store radios as you try to figure out what to get for whom. I like walking past all the houses and seeing the trees all lit up in their windows Wait a minute, lit up trees? Why do we even have the trees? Christmas, in my family, is all about getting the whole family together for dinner. Everyone is so focused on paying their bills that there is no real gift giving except for that of our company. We like to laugh and have fun and its normally pretty loud at whichever house we congregate in. The real focus of Christmas, though, is actually on religion, which my family does not really follow. This is the day to celebrate the birth of Christ, our savior. The star at the top of the gaily decorated tree is to depict that of the star over Bethlehem that guided the shepherds to where Jesus was born. The tre e was established as part of our tradition by Martin Luther who used it as a symbol of the Tree of Life from the bible tale of the Garden of Eden. Another tradition that is attributed to Christmas is that of Santa Clause, or Father Christmas, or Saint Nick, my all-time favorite man. How could you not love a man that runs around in red pajamas and gives out candy and gifts? Even though he is so loveable, he is not the real reason behind Christmas and it would be nice to see that people, especially children, realize this. Instead, they spend the last ten or so days before Christmas hoping you and jolly old Santa forgot all their past transgressions so that they dont get a lump of coal in their stockings. This does tend to make Christmas more fun, but I only hope that other people get that kind and warm-hearted feeling that I always get around Christmas. It is a time when people are nicer to everyone else and I think that it is the greatest time of year because of this. Of all these holidays, I have my favorites and you have yours, all for different reasons. But in todays society, are we really celebrating them in the right way? In watching the news it is plain to see that America is facing a problem with youth and their values, or lack thereof. Maybe if we tried to spread the old traditions of some of these holidays and to celebrate them right instead of letting them become so commercialized, todays society would remember that there are actual reasons that we partake in these holidays, not just to be able to ask So, what do you want for Christmas this year?

Managerial Economics Essay

There are quite a few differences between Economics and Managerial Economics. Managerial Economics is micro in character while Economics is both micro and macro in character. Economics is both positive and normative science but the Managerial Economics is essentially normative in nature. Under Economics we study only the economic aspect of the problems but under Managerial Economics we have to study both the economic and non-economic aspects of the problems. Those are just a few distinct differences amongst many others. Economics is defined as the study of goods and services; the study of the production, distribution, and consumption of goods and services while Managerial Economics is a study of application of managerial skills in economics. The field of economics is broken down into two distinct areas of study: microeconomics and macroeconomics. Microeconomics looks at the smaller picture and focuses more on basic theories of supply and demand and how individual businesses decide how much of something to produce and how much to charge for it. Macroeconomics, on the other hand, looks at the big picture (hence â€Å"macro†). It focuses on the national economy as a whole and provides a basic knowledge of how things work in the business world. Microeconomics/ Macroeconomics and Managerial Economics have plenty in common. They all overlap in some form or fashion. Managerial economics is applied theory. Much of managerial economics applies the theories set forth in microeconomic theory. The relationship between the Microeconomics and the Macroeconomics are based on the result of choices made by each household and firms and some models of macroeconomics especially while originating the collective of production and consumption levels among both the branches of economics.

Yanzhou Bids Cas - 1413 Words

Yanzhou Bids for Felix Resources Case Study 1. When should stockholders doubt their own company’s support of a friendly acquisition? With a friendly acquisition takeover the firm chooses to make a public offer that is equally accepted by the board when all the terms are agreed upon, which will also need the approval of regulators and also shareholders. The key parameter that drives a deal and is also the key concern for both seller and buyer is known as valuation. There have been a large number of researchers that have studied the effects that have occurred with company takeovers on value with not only on bidder firms, but also the target. From the research done it has shown that stockholders of the target firms end up having a†¦show more content†¦Mandating that the coal be sold at an arm’s length basis according to international benchmarks is reasonable. This will ensure the coal is sold at fair market value, and will prevent China from benefiting unduly and taking advantage of the Chinese ownershi p interest in Yancoal. The requirement to list shares of the Australian Stock Exchange and have at least 30% of the shares available for sale will ensure that the company remains publicly-held and not closely-controlled by Chinese ownership stakes. Conversely, the stipulation that Yancoal be staffed primarily by Australian managers and sales force is an area that has the potential to limit Yancoal in such a way that is detrimental to overall operations. The previous stipulations primarily ensure that the Australian government can maintain a necessary level of oversight, while this stipulation potentially interferes with Yancoal’s ability to staff key position with the most qualified personnel. China is one of Yancoal’s primary coal consumers, and Chinese talent will be able to offer valuable knowledge of the local business customs and customer needs, servicing the market in a more meaningful, competitive style than Australian employees may be able to do. This also eliminates Yancoal’s ability to bring in talent from around the globe that can offer a skill set which provides a competitive advantage. Global giant Google realized that they made exactly this mistake by mandating that all management personne l

The Knight and the Miller Portrayed by Chaucer Essay

The Knight and the Miller Portrayed by Chaucer society. The Knight would be an educated member of society, whereas the Miller would be nearer the bottom of the social spectrum. The type of education each would have had is reflected in the language Chaucer uses in each portrait. In the Knights prologue Chaucer uses longer words and longer sentences. Chaucer lists all the battles the Knights has been in, and the long sentences used help to show the reader that the Knight is educated. In the Millers prologue shorter sentences and shorter words are used which infers that the Miller is uneducated. ‘A swerd and bokeler bar he by his side’ The two characters are defined by their role in society in the 14th century. The Knight and†¦show more content†¦The Knight is idealised by Chaucer in the same way as Knights are portrayed in fairytales. Chaucer uses hyperbole as a technique to infer to the reader that the Knight is idealised. The deeds that the Knight has achieved are fighting for his country and for his faith and he is respected and looked up to by other members of society. The Millers only ‘deeds’ are achieved in mindless violence and brute strength, ‘at wrastlinge he wolde have alwey the ram.’ This shows that the Miller has physical brute strength. The portrait of the Miller implies to the reader that he is not very intelligent, ‘Tere was no dore that he nolde heve of harre, Or breke it at a renning with his heed.’ This statement is almost comical, and it helps the reader to realise that the ‘Millers Tale’ might be quite comical; a contrast to the ‘Knights Tale,’ which was very noble. There are lots of religious references in both portraits. There are lots of Christian concepts in the Knights portrait, ‘As well in Christendom as Heatheness, and ever honoured for his worthiness,’ and there are lots of demonic suggestions in the Millers portrait, ‘A baggepipe wel koulde he blowe.’ In those days the devil was often pictured playing the bagpipes, which suggests that, the Miller is not very religious and even demonic. This could also infer to the reader that maybe the Miller is not on a pilgrimage to pay homage to God but to try to make himself look good. Later on, in theShow MoreRelatedTones, Moods, and Irony in the Canterbury Tales833 Words   |  4 Pageswords that were used. The Canterbury Tales by Geoffrey Chaucer is a suitable novel for showing various examples of tone, mood, and irony through the many different characters, their personalities, and their narrations. As far as literary tone goes, it is basically the same as the tone used when verbally speaking. Chaucer balanced the serious and deathly tales with the tales set for comedy. In the General Prologue, the portrayals of the Knight, the Parson, and the Plowman show a solemn tone whileRead MoreViolence In The Pardoner, The Knight, And The Wife Of Bath940 Words   |  4 Pagesinvolved some type hostility such as combat, homicide, molestation, and foul. Chaucer includes the sense of suffrage and takes on the approach of violence so that the audience is gripped onto the stories and to get the aspect of pity for that character or characters. The sake of these stories steering near the chaos it has a purpose in which gives the reader intel n detail on the tale told by The Pardoner, The Miller, The Knight, and The Wife of Bath. These four tales have this similarity in violenceRead MoreTheme Of Feudal Class In The Canterbury Tales1218 Words   |  5 Pagesnumber and the cause/ Of our assemb ly in this company (lines 711-14). 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Essay on The Media Effects American Culture - 1249 Words

The media is the means of communication, as radio and television, newspapers, and magazines that reach or influence people widely. The growth of the media has spread vastly over the years. The media is also known as a â€Å"channel of mass communication.† â€Å"Mass Media incorporates all those mediums through which information is distributed to the masses. These include advertisements, magazines, newspapers, radio, television, and the Internet† (Sebastian). The media introduces many new things to the public, both positive and negative. The media harms the American culture by creating these celebrity idols, the glorification of violence, sex, and drug and alcohol abuse. The media positively affects the American culture by the quick and easy flow of†¦show more content†¦People become consumed in this â€Å"fame and money† way of living that they will do whatever it takes to be just like the rich† (Coleman). The media puts the reality into things wit h a twist of any kind of story, quote, or anything that appeals to the public. This showed Americans that the media can negatively affect anyone’s life forever. â€Å"The glorification of violence, drug abuse and other unhealthy habits has a major role in the outburst of unfortunate incidents where children have gotten extremely violent and out of control. Be it the advertisements touting products that promise a fairer skin or bods-to-die for or the television shows and films, which portray violence, sexually explicit content and abusive language. There are music videos and rock bands that give out the message that alcohol; drugs and sex are an inevitable part of life. These ideals created by the media might not be necessarily appropriate† (Manohar). There is this â€Å"media frenzy† going on in America that not only teens are being affected, but also adults. 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Human Resource Analysis Of Air National Free Essays

Introduction Air National, Europe’s largest airline company, dominated other carriers in the 1980s onward onto the late 1990s aided by a highly regulated civil aviation market in which competition was managed through harmonious inter-airline, competitor, and government relationships, which enabled the domination of markets by national carriers including AN. The mid 1980s however saw a change in AN’s fortunes with its privatization in 1986 amidst prolonged economic recession and deregulation of the civil aviation industry in Europe and North America. These changes reduced the old corporation’s potential political influence, and necessitated a restructuring to make the company attractive to sceptical investors which entailed downsizing of assets and workforce, an endeavour which required the planning and implementation of a new set of business and human resource management strategies. We will write a custom essay sample on Human Resource Analysis Of Air National or any similar topic only for you Order Now This paper investigates AN’s competitive and HR strategy basing its analysis on relevant theories. Human resource management is an approach to the management of an organization’s employees both individually and collectively (its workforce), as valued assets contributing to the attainment of its objectives (Purcell 2003). Its main responsibilities are the selection, training, assessment and rewarding of employees and oversight on the organization’s leadership and culture. The primary focus of the human resource theories and practice is the aligning of people and organizations better for their mutual benefit (Purcell 2005). Issues affecting AN’s business strategy shift The issues that necessitated a change in AN’s competitive strategy and the re-engineering of the company include external factors such as the prolonged recession, deregulation in the civil aviation industry, the heightening of the industry-wide price wars with the emergence of discount airlines and a costly battle for market share, and the effect of terrorism which has had a huge adverse effect on international air travel; as well as, internal factors such as its privatization, huge debts, labour costs, and resultant losses. These factors affected AN’s business and it therefore had to find new ways to better its competitive advantage so as to sustain itself and maintain its market share in both domestic and international passenger traffic. AN’s initial transformation strategy seeking to adopt a low-cost competitive structure failed forcing a change to the differentiation (â€Å"added-value†) strategy which entails the prioritization of high quality customer service and the reorganization of management structure with greater focus on operational issues, and the launch of its discount airline operated as a separate company, to cover market demand for discount airlines. The improvement of HR policies at Air National to better manage its staff contributing to its improved performance can be applied to John Storey’s distinguishing features relating to people management (Storey 1989), broadly categorized into four outlines distinguishing the various elements. Among these outlines is the beliefs and assumptions which characterize AN’s HR policies which are focused on business need with values placed on the objectives of the company rather than on customs, procedures and norms, characteristic of personnel management and industrial relations (Storey 1989). AN’s restructuring features a heightened focus on the â€Å"customer-first† programme which prompted reviews of their employee management and customer interface to enhance this focus. This new strategy entails renewed emphasis on empowerment of employees and their commitment, with the foundation being its recognition that being a service industry, its people are its most impo rtant asset on which its survival depends upon. Conflicts within the company are de-emphasized with managers required to give up control adopting shared power, a consensus approach to decision making which seeks to enhance employee participation and thereby improve their performance. This restructuring also entailed the removal of demarcations between craft groups with consequent reorganization into integrated workgroups and multi-skilled teams with harmonized functions enhancing focus on operational issues and key tasks rather than on rules, customs and management direction inherent in its earlier structure. In the strategic aspects outline (Storey 1989), key relations within AN are integrated to focus on the â€Å"customer-first† strategy, AN’s central corporate plan, with the scrapping of hitherto detached piecemeal initiatives characterizing its old structure. The application of the line management outline with regard to managerial role applies to the management of AN transformed through its new visionary leaders focused on the new strategic shift, which differs from its initial form of management which was mainly transactional and focused on demarcations of duties and responsibilities (Storey 1989). Management was re-focused on route divisions each led by a general manager with authority over business development and particularly, marketing. A prized management skill (Storey 1989) in the new structure was facilitation of employees towards the realization of overall objectives, with the company investing on training programs for senior management based on the importance of trust, motivation and visionary leadership. Looking at the key levers outline in John Storey’s distinguishing features (Storey 1989), AN initiated a profit-related pay system in its transformed strategy so as to motivate its staff better, enhance their performance, job engagement and commitment, ensuring that employees are rewarded for their input, skill levels and competence (Purcell 2005). This pay strategy was reached at through comprehensive consultations with the union to which senior management has developed an open relationship and strategic partnerships, characterized by team briefings and regular formal consultation meetings with its representatives. Communication in AN’s new structure is increased with the encouragement of consensus building and joint decision making which further enhances performance. Training and development is enhanced with investment and the institution of training series for staff and senior management on key business development issues. The company’s conflict handling is also improved with wide ranging foci of attention through the engagement of unions and active involvement of management. Disputes in this new arrangement are quickly resolved through AN’s management reminding its employees of the company’s commitment to job security, their training and development. It is however not an entire success as much of it is left at short term truce with management often throwing money at the problem to kill the conflict, in essence postponing the issues. Key human resource planning issues Human resource management overall is intended to enable an organization achieve its success through people, prime assets who give it its distinct character through a combination of intelligence, skills and expertise, the source of its capabilities essential for its long term survival (Purcell et al, 2005). Research has shown that human resource practices can significantly impact performance of a firm and therefore, AN’s HRM strategies should aim to support programs that improve its organizational effectiveness through the development of deliberate policies that would characterize clear vision and integrated values (Fombrun et al, 1984). The company should also focus on its human capital management in its human resource planning as the company’s success is depended upon employee input. AN’s HRM strategy should seek to ensure that the company obtains and retains a skilled, committed and motivated workforce through the assessment of the company’s people need for selection, the development of the people’s capabilities through nurturing, continuous training and development overall linking them to the needs of the business (Boxall 1992). Other key issues that should be incorporated in AN’s human resource planning to enhance workforce empowerment, commitment and overall company efficiency include knowledge management to enhance performance, reward management to express value for people’s contribution and competence, creation of harmonious relationships to reduce negative conflict and its effect on performance and efficiency, meeting of the diverse needs of the workforce, and bridging gaps between such plans and translated action to bring these policies to life (Sisson 1995). Models of human resource management that best fit AN’s approaches AN’s approach best fits the matching model of HRM, a concept of the Michigan school (Fombrun et al, 1984) which holds that, as its name suggests, an organization’s HR systems and structure should be managed in congruence with its strategy through four generic processes or functions including; selection which entails the matching of human resources to jobs; appraisal which entails performance management; rewards which are motivation schemes developed for the workforce; and, development inherent in the enhancement of the quality of employees. Also fitting is the Harvard framework model founded by the Harvard school (the fathers of HRM), which has its basis on the demand for a broad, comprehensive and strategic perspectives, laying central importance on line managers in ensuring alignment of competitive strategy with HR policies, and the importance of set policies governing workforce activities (Boxall 1992). This model recognizes a range of stakeholders and the importance of interest trade-offs, as well as, widening HRM context adding on the influence of employees among other influences. Conclusion Transformation through its re-engineering brought AN back to profitability in the first quarter of 1998 from its depth of debt in the late 1980s which is a clear testimony to the importance of strategic integration of human resource management which was the main strategy for its transformation to which this success can be attributed. AN, however, later suffered a loss in the last quarter of 2001 and first quarter of 2002 but the company endeavours is to manage the 21st century realities concerning air travel and to maintain its market share in passenger traffic both domestic and international. References Boxall, P., 1992. â€Å"Strategic HRM: A beginning, a new theoretical direction.† In: Human Resource Management Journal, 2(3), pp 61–79 Fombrun, C., N., Tichy, and M., Devanna, 1984. Strategic Human Resource Management. New York, Wiley. Purcell, J, K., Kinnie, Hutchinson, B., Rayton, and J., Swart, 2003. People and Performance: How people management impacts on organizational performance. CIPD, London. Purcell, J., K., Kinnie, Hutchinson, J., Swart, and B., Rayton. 2005. Vision and Values: Organizational culture and values as a source of competitive advantage. CIPD, London. Sisson, K., 1995. â€Å"Human resource management and the personnel function.† In J Storey (ed.) Human Resource Management: A critical text. Routledge, London. Storey, J., 1989. â€Å"From personnel management to human resource management.† In Storey, J. (ed.) New Perspectives on Human Resource Management. Routledge, London. How to cite Human Resource Analysis Of Air National, Essay examples Human Resource Analysis Of Air National Free Essays Introduction Air National, Europe’s largest airline company, dominated other carriers in the 1980s onward onto the late 1990s aided by a highly regulated civil aviation market in which competition was managed through harmonious inter-airline, competitor, and government relationships, which enabled the domination of markets by national carriers including AN. The mid 1980s however saw a change in AN’s fortunes with its privatization in 1986 amidst prolonged economic recession and deregulation of the civil aviation industry in Europe and North America. These changes reduced the old corporation’s potential political influence, and necessitated a restructuring to make the company attractive to sceptical investors which entailed downsizing of assets and workforce, an endeavour which required the planning and implementation of a new set of business and human resource management strategies. We will write a custom essay sample on Human Resource Analysis Of Air National or any similar topic only for you Order Now This paper investigates AN’s competitive and HR strategy basing its analysis on relevant theories. Human resource management is an approach to the management of an organization’s employees both individually and collectively (its workforce), as valued assets contributing to the attainment of its objectives (Purcell 2003). Its main responsibilities are the selection, training, assessment and rewarding of employees and oversight on the organization’s leadership and culture. The primary focus of the human resource theories and practice is the aligning of people and organizations better for their mutual benefit (Purcell 2005). Issues affecting AN’s business strategy shift The issues that necessitated a change in AN’s competitive strategy and the re-engineering of the company include external factors such as the prolonged recession, deregulation in the civil aviation industry, the heightening of the industry-wide price wars with the emergence of discount airlines and a costly battle for market share, and the effect of terrorism which has had a huge adverse effect on international air travel; as well as, internal factors such as its privatization, huge debts, labour costs, and resultant losses. These factors affected AN’s business and it therefore had to find new ways to better its competitive advantage so as to sustain itself and maintain its market share in both domestic and international passenger traffic. AN’s initial transformation strategy seeking to adopt a low-cost competitive structure failed forcing a change to the differentiation (â€Å"added-value†) strategy which entails the prioritization of high quality customer service and the reorganization of management structure with greater focus on operational issues, and the launch of its discount airline operated as a separate company, to cover market demand for discount airlines. The improvement of HR policies at Air National to better manage its staff contributing to its improved performance can be applied to John Storey’s distinguishing features relating to people management (Storey 1989), broadly categorized into four outlines distinguishing the various elements. Among these outlines is the beliefs and assumptions which characterize AN’s HR policies which are focused on business need with values placed on the objectives of the company rather than on customs, procedures and norms, characteristic of personnel management and industrial relations (Storey 1989). AN’s restructuring features a heightened focus on the â€Å"customer-first† programme which prompted reviews of their employee management and customer interface to enhance this focus. This new strategy entails renewed emphasis on empowerment of employees and their commitment, with the foundation being its recognition that being a service industry, its people are its most impo rtant asset on which its survival depends upon. Conflicts within the company are de-emphasized with managers required to give up control adopting shared power, a consensus approach to decision making which seeks to enhance employee participation and thereby improve their performance. This restructuring also entailed the removal of demarcations between craft groups with consequent reorganization into integrated workgroups and multi-skilled teams with harmonized functions enhancing focus on operational issues and key tasks rather than on rules, customs and management direction inherent in its earlier structure. In the strategic aspects outline (Storey 1989), key relations within AN are integrated to focus on the â€Å"customer-first† strategy, AN’s central corporate plan, with the scrapping of hitherto detached piecemeal initiatives characterizing its old structure. The application of the line management outline with regard to managerial role applies to the management of AN transformed through its new visionary leaders focused on the new strategic shift, which differs from its initial form of management which was mainly transactional and focused on demarcations of duties and responsibilities (Storey 1989). Management was re-focused on route divisions each led by a general manager with authority over business development and particularly, marketing. A prized management skill (Storey 1989) in the new structure was facilitation of employees towards the realization of overall objectives, with the company investing on training programs for senior management based on the importance of trust, motivation and visionary leadership. Looking at the key levers outline in John Storey’s distinguishing features (Storey 1989), AN initiated a profit-related pay system in its transformed strategy so as to motivate its staff better, enhance their performance, job engagement and commitment, ensuring that employees are rewarded for their input, skill levels and competence (Purcell 2005). This pay strategy was reached at through comprehensive consultations with the union to which senior management has developed an open relationship and strategic partnerships, characterized by team briefings and regular formal consultation meetings with its representatives. Communication in AN’s new structure is increased with the encouragement of consensus building and joint decision making which further enhances performance. Training and development is enhanced with investment and the institution of training series for staff and senior management on key business development issues. The company’s conflict handling is also improved with wide ranging foci of attention through the engagement of unions and active involvement of management. Disputes in this new arrangement are quickly resolved through AN’s management reminding its employees of the company’s commitment to job security, their training and development. It is however not an entire success as much of it is left at short term truce with management often throwing money at the problem to kill the conflict, in essence postponing the issues. Key human resource planning issues Human resource management overall is intended to enable an organization achieve its success through people, prime assets who give it its distinct character through a combination of intelligence, skills and expertise, the source of its capabilities essential for its long term survival (Purcell et al, 2005). Research has shown that human resource practices can significantly impact performance of a firm and therefore, AN’s HRM strategies should aim to support programs that improve its organizational effectiveness through the development of deliberate policies that would characterize clear vision and integrated values (Fombrun et al, 1984). The company should also focus on its human capital management in its human resource planning as the company’s success is depended upon employee input. AN’s HRM strategy should seek to ensure that the company obtains and retains a skilled, committed and motivated workforce through the assessment of the company’s people need for selection, the development of the people’s capabilities through nurturing, continuous training and development overall linking them to the needs of the business (Boxall 1992). Other key issues that should be incorporated in AN’s human resource planning to enhance workforce empowerment, commitment and overall company efficiency include knowledge management to enhance performance, reward management to express value for people’s contribution and competence, creation of harmonious relationships to reduce negative conflict and its effect on performance and efficiency, meeting of the diverse needs of the workforce, and bridging gaps between such plans and translated action to bring these policies to life (Sisson 1995). Models of human resource management that best fit AN’s approaches AN’s approach best fits the matching model of HRM, a concept of the Michigan school (Fombrun et al, 1984) which holds that, as its name suggests, an organization’s HR systems and structure should be managed in congruence with its strategy through four generic processes or functions including; selection which entails the matching of human resources to jobs; appraisal which entails performance management; rewards which are motivation schemes developed for the workforce; and, development inherent in the enhancement of the quality of employees. Also fitting is the Harvard framework model founded by the Harvard school (the fathers of HRM), which has its basis on the demand for a broad, comprehensive and strategic perspectives, laying central importance on line managers in ensuring alignment of competitive strategy with HR policies, and the importance of set policies governing workforce activities (Boxall 1992). This model recognizes a range of stakeholders and the importance of interest trade-offs, as well as, widening HRM context adding on the influence of employees among other influences. Conclusion Transformation through its re-engineering brought AN back to profitability in the first quarter of 1998 from its depth of debt in the late 1980s which is a clear testimony to the importance of strategic integration of human resource management which was the main strategy for its transformation to which this success can be attributed. AN, however, later suffered a loss in the last quarter of 2001 and first quarter of 2002 but the company endeavours is to manage the 21st century realities concerning air travel and to maintain its market share in passenger traffic both domestic and international. References Boxall, P., 1992. â€Å"Strategic HRM: A beginning, a new theoretical direction.† In: Human Resource Management Journal, 2(3), pp 61–79 Fombrun, C., N., Tichy, and M., Devanna, 1984. Strategic Human Resource Management. New York, Wiley. Purcell, J, K., Kinnie, Hutchinson, B., Rayton, and J., Swart, 2003. People and Performance: How people management impacts on organizational performance. CIPD, London. Purcell, J., K., Kinnie, Hutchinson, J., Swart, and B., Rayton. 2005. Vision and Values: Organizational culture and values as a source of competitive advantage. CIPD, London. Sisson, K., 1995. â€Å"Human resource management and the personnel function.† In J Storey (ed.) Human Resource Management: A critical text. Routledge, London. Storey, J., 1989. â€Å"From personnel management to human resource management.† In Storey, J. (ed.) New Perspectives on Human Resource Management. Routledge, London. How to cite Human Resource Analysis Of Air National, Essay examples

Understanding GDP Structure & Its Phases

Question: Describe the GDP Sturcture and Its Phases? Answer: Introduction Understanding GDP Structure Its Phases GDP is the market value of all final goods and services produced within the domestic territory of the country in an accounting year. If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value if aggregate amount of goods and services produced by the economy in a year. Such estimates called Gross Domestic Product (GDP) There are just two periods in the world history during which there was a sustained growth in living standards. The first occurred in China between the eighth and the twelfth centuries, where a modest rate of growth took living standards to a level not attained in Europe until the eighteenth century. The Chinese experience demonstrates that the initiation of a growth process does not entail its continuation indefinitely, in spite of its early experience of growth, China entered the post-Second World War period as one of the world's poorest countries.(Sultan Ayoub Meo, 2013) The second phase of sustained growth is a very recent phenomenon and began in Europe. A sustained increase in living standards started in Europe sometime after 1500, but it was initially very slow. During the first two centuries it averaged only about 0.1 per cent per annum, which translates into a 22 per cent increase in income per capita over the entire period. Economic progress slowly gathered momentum, averaging 0.2 per cent per annum during the 1700-1820 periods, while from the early nineteenth century it began to grow by about 1 per cent per annum, allowing for a doubling in the standard of living in seventy years. Growth rates that consistently reached above 1 per cent per annum were only recorded after 1870. Yet the century and a quarter of sustained growth since then has had spectacular effects, transforming life for people in the countries that have stepped on to the growth elevator and creating a yawning gap between the 'haves' and the 'have nots. Body The dramatic increase in world inequality is illustrated by the fact that in 1900, average income per head in Western Europe, the USA, and Japan was about five times higher than in Africa; now it is fifteen times higher.(Gregg Marland, 2014) Fig. 1.6 uses the Penn World Tables 6.1 square to look at the distribution of average per capita income across countries in the world in 1960 and 2000. GDP per head of the population is measured at constant prices and at purchasing power parity adjusted exchange rates to enable average living standards to be compared across countries. In fig. 1.6, country averages of GDP per capita are measured relative to the United States, i.e. the USA = 1. In 1960 the world's poorest country, Tanzania, had an average per capita GDP level of $382 per annum, while China's was $ 682 and the United States had per capita GDP of $ 12,273. Today, Tanzania is still the world's poorest country at $ 482 per capita GDP while the United States enjoys $ 33,293 per capita GDP.(Sheedy, 2010) Analysis of The Growth Rates Average growth rate in the United States was about 1.8 per cent per annum from 1870 to 2000. If average growth rate in the USA had been on percentage point from lower over that period, and thus comparable to those achieved by India or Pakistan (over most of that period), its per capita GDP in 2000 would have only reached about $ 9,000 which would have a meant a current level of economic performance roughly similar to that of Mexico or Poland. If on the other hand the USA had enjoyed growth rates only one percentage point higher than the actual one and thus comparable to the average growth rate of Japan or Taiwan for most of that period, it's GDP per capita levels would have been almost four times higher than they are now. These examples illustrate how small differences in growth rates produce large effects in terms of the standard of living when they persist for longperiods of time.(Arthur, 2013) Fig. 1.6 shows on the left the frequency distributions of the average GDP per capita of countries of the world in 1960 and 2000, where average GDP is measured relative to the USA (=1). It is immediately obvious that the vast bulk of countries are to be found with levels of average income way below that of the USA. The so called kernel distribution in the right-hand panel is different method of using the same information presented in the histograms on the left. Looking at the right hand panel, we can see the way the world cross-country income distribution has changed between 1960 and 2000. First we notice a bimodal pattern, meaning that it now looks as if it has two peaks at the ends, while in 1960 it had only one. We also notice that the distribution in 2000 is slightly wider than it was in 1960. These are signs that over time as some countries have become richer and others poorer, the world has become increasingly more clustered between rich and poor countries.(Zhu, 2013) Analysis Of Distribution of Income A different question is what happened to the distribution of income across the peoples of theworld, rather than across countries. In the past twenty years, some of the most populous countries such as China and India have grown faster than the rich countries and this has had the effect of pulling large numbers of people out of poverty.(Powers, 2012) This hints at powerful changes that occurred over the past four decades as the world witnessed both growth miracles and growth disasters, coupled with a profound transformationof the political landscape and the collapse of many African economies under the burden of the AIDS epidemic. The extent of economic inequality between today's world economies becomes even more striking when we are reminded that in the developing world over 790 million people do not have enough food to eat and 1.3 billion people do not have access to safe drinking water. Almost half of the world'spopulation survives on less than $2 a day. In Asia the number of people living in poverty, on less than $ 1 a day, fell from 420 million to around 280 million even when taking into account the financial meltdown of the late 1990s. In Eastern Europe on the other hand the number of people living on less than $ 1 a day has increased by a factor of twenty.(Downie, 2011) Role Of various countries around the Economy Today most of the OECD countries together with some of the Asian economies find themselves at the top of the world's income distribution. In 1960 however we witness Latin American countries like Argentina, Uruguay and Venezuela in the top 25 countries, whereas none are in the top 25 in 2000. Similarly, some Asian countries like China, India, Indonesia and Pakistan that were in the bottom 25 countries in 1960 experienced sufficient growth to move well outside this group. Differences in economic growth rates have ranged from 6 per cent per annum for Taiwan to -1.8 per cent per annum for Zambia and have dictated the winners and losers of the last few decades.(Lancieri, 2009) In fig. 1.7 we plot the relative per capita incomes of economies in 1960 and 2000 against the 45 degree line. Points that lie relatively close to the diagonal represent countries that have seen very little change in relative living standards over the past few decades compared to the USA. Points that lie above the diagonal represent countries that have experienced positive relative rates of economic growth. The plot also shows that within the cluster of points in the lower left corner, representing the poor countries of the world, many have experienced deterioration in their relative position. Only very few countries that have had relatively low incomes per capita in 1960 have seen a significant improvement in their relative living standards, and can thus be identified as growth miracles. These form the loose cluster of points to the left of the 45 degree line and include most of the Asian economies but also Botswana, Mauritius, Cyprus and Romania. Countries represented by points to t he extreme right of the 45 degree line correspond to economies that have seen a deterioration of their relative position over the past few decades and are thus labeled as growth disasters. Notable examples include Chad, Iraq and Venezuela. Prospects are for the evolution of the income distribution Given the varied performance of countries asshown in fig. 1.7, we naturally face the question of what the prospects are for the evolution of the income distribution in the future. Specifically, is there any hope that the world's poorest economies will catch up with the world's richest ones? We construct fig. 1.8 by plotting the growth rate in per capita GDP over the period 1960 to 2000 against the log value of per capita GDP in 1960. This plot is a simple example of an attempt to explore the concept of economic convergence and corresponds to an old economic hypothesis that countries which start off poor ought to grow faster and thus catch up with the richer ones. If the countries that are initially poor are to catch up, there should be a negative relationship in the graph, with countries on the left hand side ( poor at the outset ) having the high growth rates ( located at the top ) and vice versa for countries that are initially rich. We also have plotted the best fit line correspon ding to the sample regression and we observe a small positive slope. However, we should note that the points are widely dispersed, and indeed if we perform a statistical test we obtain the result that the slope parameter is not significantly different from zero. Thus, we cannot confidently conclude that there is divergence on the basis of this data, but there is clearly no sign of convergence across countries.(Zimmermann, 2009) However, if we were to perform the same analysis on sub samples of the data set, such that the countries that we include are relatively similar in terms of their economic, social, political or historical experience we will obtain a strong negative relationship between the growth rate of income and the initial starting position, thus confirming the convergence hypothesis. Inflation Unemployment Employment rates are lower for women and for older people: this is the outcome of a combination of lower participation rates and higher unemployment rates. This is a common feature across the OECD countries. Nevertheless, there are interesting cross-country variations, the shortfall of the women's employment rate below that of men is least in the Nordic countries at around 10 percentage points or less; the shortfall is highest in the Catholic Southern European countries and Ireland at nearly 30 per cent points or more. For older people aged 55-64, the emolument rate shortfall as compared with those between the ages of 25 and 54 is lowest in Japan and Switzerland and highest in the continental economies of Austria, Belgium and the Netherlands In the light of stylized empirical facts of economic growth we can turn to the theoretical models. One place to begin is to focus on what determines the level of output per worker. In our discussion of the short and medium run, we focused on a single factor of production, labor. We assumed that the amount of capital requirement available to the worker was fixed. When we move tothe long run, we would expect differences in levels of output per worker across countries to depend on the amount of capital equipment available. As we shall see, Humancapital should also be included. Human capital refers to the abilities and skills that people can acquire. The term human capital is used to highlight the analogy with physical capital: investment only takes place if current consumption is sacrificed and resources are devoted to acquiring capital goods instead. Similarly, resources and time must be devoted to the accumulation of human capital through education, training or learning on the job. In addition to the quantity of factors of production available per worker, both technology and efficiency will matter as well Concept Of GDP GDP is the market value of all final goods and services produced within the domestic territory of the country in an accounting year. If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value if aggregate amount of goods and services produced by the economy in a year. Such estimates called Gross Domestic Product (GDP) GDP = sum total of gross value added of all the firms in the economy. GDP includes the market value of all the items produced in an economy and sold legally through the markets. It measures the market value of bananas, onions, potatoes, grapes, movies, health care, haircuts, etc. Goods and services: GDP includes both tangible such asfood, cloth, houses, cars, etc and intangible goods such as haircuts, health care and house cleaning. When an individual buys a book from a shop, he is buying a good and its purchase price is a part of GDP. When an individual pays to hear music by a famous group he is buying a service, and the ticket price is also a part of GDP. Produced: GDP includes goods and services produced currently. It does not include transaction in goods produced in the past. Within a country: GDP measures the value of production within the domestic territory of a country. When an Indian citizen works in Britain, his production is part of Britain's GDP. Thus, items are included in a country's GDP if these are produced domestically, regardless of the nationality of the producer. In given period of time: GDP measures the value of production that takes place within a specified period of time usually an accounting year. GDP measures the economy's flow of income and expenditure per annum. GDP is the output of all the Indian enterprises located in India and GNP is the output of all the Indian enterprises whether located on India or abroad Growth Rates Of GDP Steady state growth is characterized by a constant output ratio and constant wage and profit shares in GDP. There is no growth of per capita GDP. A rise in the savings or investments rate or fall in the population growth rate leads to a period during which the GDP per capita grows as a consequence of the increasing capital intensity of a production, but growth dies out because of the role of diminishing return to the capital. The level of output per capita is higher in the steady state is higher, the higher is the savings or investment share, and the lower, the rate of population growth. If the government is able to keep raising the savings or investments rate, there will come a point at which this reduces welfare in the economy, where this is measured by the steady-state level of consumption per head. The savings rate that maximizes consumption per head is known as the golden rule rate.(Landefeld, 2008) The Solow-Swan model must be modified if it is to be consistent with the stylized fact of steady growth in per capita GDP. This is accomplished by including Harrods-neutral technological progress in the model: i.e. it is assumed that the productivity of labor is enhanced by improvements in technology on the existing capital stock that take place at a constant exogenously given rate. This modification allows for balances growth with rising GDP per capita.(ichikawa, 1992) Conclusion Growth rate is measured by the GDP growth rate. In the 1990s, the rate of growth was around average 3.5 per cent. The rate was slightly higher than in the year 1980s, the home country growth rate was below the OECD average during the year 1950s and in the year 1960s. As with the US, the home country suffered physical and various other destruction during the World War II, so as the result of war, the post war economic growth of the country was not so high rather it was too slow. By the early 1990s, the GDP had fallen by around 8 per cent which was below the OECD average. In the early 1990s, due to various reform measures, there was a rapid economic growth which was accompanied with the low level of inflation and decline in the level of unemployment. Reform measures included the reduction in the tariff level and various other trade barriers, improving the remuneration and employment condition of employees. These reforms increase the level of productivity in the year 1990s, unlike the U S, the accelerate rate in the home countrys productivity growth was very little in comparison to the growth of information technologies goods, in spite of the fact that the home country is an intensive user of information technologies goods. The growth rate after 1990s showed a relative increase during the 2000s(Hannesson, 2009) References: Arthur, J. (2013). Advance Statistics of GDP by State for 2013 by NAICS Sector. Bureau of Economics Analysis , 1-6. Downie, J. (2011). Measuring GDP. World Economics , 2. Gregg Marland, T. L. (2014). 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