Price Fixing Free Essays

The case was discharged in the mid-2006, where the Federal Trade Commission has announced that they are testing the individuals from the Puerto Rico Association of Endodontists, Corporation or the PRAE (Commissions, 2006). This is a direct result of supposed value fixing coordinated efforts that they would charge on a few protection approaches and dental administrations that they offer. They have worked together and settled on concurrences with 30 different contenders, wherein they fixed their costs to the detriment of their shoppers. We will compose a custom exposition test on Value Fixing or then again any comparable point just for you Request Now Along these lines, the FTC had to record a grievance against this organization since it diminishes the opposition between these organizations, in this manner greater expenses will be forced on the shoppers. This is an away from of the Federal Trade Commission Act, Section number 5. All together for this issue to be settled, The Puerto Rico Association of Endodontists, Corp. should avoid including in issues that advance anticompetitive direct in the coming years. Through this, the Federal Trade Commission will have the option to ensure that these dental administrations and other important human services issues will be given and tended to at the shoppers at costs that they could manage. Keeping a serious domain in the part of human services will open up better open doors for the individuals, alongside lower serious costs. Leaving social insurance alone hoarded will prompt higher valuing and less support, and would truly be a weight to the individuals, the purchasers. That’s why these human services suppliers and makers ought not go about as one; they ought not work together with one another in their valuing, in light of the fact that it removes the part of intensity between them. The grievances against Puerto Rico Association of Endodontists, Corporation shows that in the year 2003, the organization has just started its haggling with their rivals, hence coming about to the uncommon increment in five dental plans as of now. Another expansion happened during 2004, wherein the costs additionally went up in view of their haggling. In light of these activities the ones who were endangered were the individuals; they were the ones who worried about the concern of expanded rates, since these human services issues is a need for everybody. The Federal Trade Commission investigated that these intense changes in costs have no at all impact on the nature of administrations offered by the organization, in this manner the extra costs were not so much legitimate. It doesn’t lead to a superior nature of human services, along these lines, it is just a loss in the piece of the purchasers. Given the circumstance, the Federal Trade Commission proposed an assent request which will be take care of the current issue. This will ideally assuage the effect of the supposed anticompetitive activities by the Puerto Rico Association of Endodontists, Corporation and further keep it from happening once more. It would then prevent the organization to have any settlements or concurrences with different endodontists and haggle with any payor on the administrations that they offer, aside from appropriately masterminded by the association. Reference: Commissions, F. T. (2006). FTC Charges Puerto Rico Endodontists With Price Fixing.â â Retrieved August 4, 2007  Step by step instructions to refer to Price Fixing, Essay models

Agency costs - Free Essay Example

1.What are agency costs, and how are agency costs of financial distress different from agency benefits of leverage? Explain their impact on calculating the value of a firm with financial distress. Agency costs arise when conflicts of interest occur among stakeholders and must be paid out to an agent acting on behalf of a principal. There is an agency cost that exists in every business that has owners or shareholders and managers who are not necessarily owners. Agency cost means that shareholders and business managers may not necessarily agree on the actions that are best for the business firm and that there is an inherent cost to that disagreement. That leads to what is called the agency problem. When a firm has leverage, a conflict of interest exists if investment decisions have dissimilar consequences for the value of equity and the value of debt. These conflicts happen when there is a high concern of financial distress and can only arise when there is a chance that the firm will default. For example, if the firm managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ actions are positive for the shareholders but negative for the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s creditors which, in turn, lowers the overall total value of the firm. Shareholders wish for management to run the company in a way that increases shareholder value. On the other hand, management may wish to grow the company in ways that capitalize on their personal power and goals that may not be in the best welfare of shareholders. Agency costs of financial distress are different from agency benefits of leverage because even though equity holders may benefit at the expense of debt holdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ from these negative NPV actions taken in times of distress, debt holders recognize this move and pay less for the debt when it is first issued, reducing the amount the firm can dole out to shareholders. The net result is a reduction in the initial share price of the firm corresponding to the negative NPV of the actions. Ultimately, it is the shareholders of the firm who swallow these agency costs. Agency costs represent an additional cost of growing the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s leverage that will affect the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s optimal capital structure choice. The costs increase with the risk, i.e., the amount of debt held by the firm. Here are some agency costs of leverage: à ¢Ã¢â€š ¬Ã‚ ¢Excessive risk taking and asset substitution à ¢Ã¢â€š ¬Ã‚ ¢Debt overhang and under investment à ¢Ã¢â€š ¬Ã‚ ¢Cashing out Debt maturity and covenants can help to mitigate the agency costs of debt. The degree of agency costs frequently depends on the maturity of debt. Agency costs are highest for long-term debt and smallest for short-term debt. Debt Covenants are conditions of writing a loan in which creditors place limitations on actions that a firm can take. Covenants may help to reduce agency costs; nonetheless, because covenants hinder management flexibility, they have the possibility to aver t investment in positive NPV opportunities and can have costs of their own. 2.When securities are fairly priced, why would the original shareholders of a firm pay the present value of bankruptcy and financial distress costs? In the realm of finance, a security refers to any proof of ownership or debt that has been assigned a value and may be sold (The Street, 2014, 1). For the holder, a security represents an investment as an owner, creditor or rights to ownership on which the person hopes to gain profit, such as stocks, bonds or financial options (The Street, 2014, 1). When a company files for bankruptcy or faces a time of financial distress, every individual with a stake in that respective company à ¢Ã¢â€š ¬Ã¢â‚¬Å" from employees to creditors to stockholders, etc. à ¢Ã¢â€š ¬Ã¢â‚¬Å" is essentially linked to the future of that company in terms of how a bankruptcy proceeding may unravel. As such, individuals who hold securities in certain companies have varying changes of get ting repaid. It is in this capacity that original shareholders of a firm may pay the present value of bankruptcy and financial distress costs in order to à ¢Ã¢â€š ¬Ã…“curbà ¢Ã¢â€š ¬Ã‚  the effects that an escalating financial issue may have on individual stakeholders as well as the overarching company. Research has found that a shareholder in a company or firm à ¢Ã¢â€š ¬Ã¢â‚¬Å" especially those who have signed on and been a part of that company since the beginning à ¢Ã¢â€š ¬Ã¢â‚¬Å" hold a priority position in relation to assets of the debtor corporationà ¢Ã¢â€š ¬Ã¢â€ž ¢s estate and their ability or inability to realize on their interests and securities (Kelch, 1993, 264). Thus, when shareholders have been permitted to retain economic interests in debtor or financially unstable companies, those individuals maintain a respective say in what happens to that company, in other words, acting on good faith (Kelch, 1993, 264). 3.What are the dividend payment process and the op en-market repurchase process? In your answer, be sure to explain the effects they have in a perfect world. The dividend payment processes, or dividend payment procedures set a procedure that follows: declaration date; ex-dividend date; holder of record date; and payment date. Declaration date is the announcement that a companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s overseeing board of directors has approved the payment of a dividend. The ex-dividend date is the date is the date upon which investors are à ¢Ã¢â€š ¬Ã…“cut offà ¢Ã¢â€š ¬Ã‚  from receiving a dividend. For example, if an investor purchases a stock on the ex-dividend date, that investor will not receive the dividend, as this date is two business days before the holder-of-record date (Investopedia, 2014, 1). The ex-dividend date is important as from the day it is issued and forward, new stockholders will not receive a dividend, and as a result, the stock price of a company will be reflective of this. The holder of record date is the dat e upon which the stockholders who are able to receive the dividend are recognized. Finally, the payment date is the date upon which an actual dividend is paid out to the stockholders on record. The open-market repurchase process, on the other hand, is the reacquisition by a company of its own stock. Open market repurchases are legal transactions to reacquire a company which are generally encouraged by regulators to avoid instances of insider trading or liability. In terms of a repurchase, the open market method is largely considered to be the most common share method in the United States. In cases where this is an option, a firm or company will announce that it will repurchase some shares in the open market from time to time as market conditions dictate. In this capacity, a company or firm holds the upper hand in terms of repurchasing, as it will decide when, where, and how much of a company to repurchase, and this tactic can take upwards of months and years to be completed. 4 .What are the benefits and drawbacks of accumulating cash balances rather than paying dividends and what effects do dividend policy have on this type of decision? Today, many companies are accumulating cash balances rather than paying dividends in the wake of an uncertain fiscal and economic future. As dividend policy is largely concerned with financial policies regarding paying cash dividends in the present or paying an increased dividend at a later stage, many companies remain uncertain about their respective statuses at this à ¢Ã¢â€š ¬Ã…“later stageà ¢Ã¢â€š ¬Ã‚  in the game and are choosing to opt out of dividend policy all together. As dividend policy as well as the time and extent of these dividend policies must be chosen by a companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s management team, various factors must be taken into account by these managerial higher-ups in order to impose dividend policy on the entirety of a company, often effecting stocks, shareholders, taxes, and the option to g ain or maintain securities. For many companies, the future is generally unstable and indeterminate, and as such, many companies are choosing a less-risky option, accumulating cash balances. CNBC notes that amid recent lackluster earning seasons, that featured many companies missing sales expectations, cash balances have swelled significantly, and corporations are now stowing away cash at record rates, reluctant to invest in their businesses or hire new workers as uncertainty continues to cloud the future (Cox, 2012, 1). This research, as well as an overarching uncertainty regarding the future of fiscal policy and economics in general in the United States and across much of the western world has found that many people are far less concerned about financial risks and are more concerned about the capacity for growth, both on an individual as well as a corporate level. In a post-recession environment, investors and businesses seem to be on a separate page, but both in understanding a s to why certain companies are holding onto cash. For instance, CNBC notes: à ¢Ã¢â€š ¬Ã…“Thereà ¢Ã¢â€š ¬Ã¢â€ž ¢s this free-floating waiting period . . . waiting for certaintyà ¢Ã¢â€š ¬Ã‚  (Cox, 2012, 1). 5.What impact does asymmetric information have on the optimal level of leverage? In your answer, be sure to describe the implications of adverse selection and the lemons principle for equity issuance, as well as the empirical implications. Asymmetric information is found in a situation in which one party in a transaction has more or superior information as compared to the other party in that transaction. For instance, asymmetric information can occur when a seller knows more than a buyer or vice versa, and such an instance can become harmful due to the fact that one party has the opportunity to take advantage of the other. In this case, the party with the increased level of information essentially has all the leverage in a financial deal, because he or she can take the e xcess information into account and force the hand of the other member of the transaction, in effect. In this capacity, there comes a chance of adverse selection, in which undesirable results can occur when buyers and sellers possess the aforementioned asymmetric information, and because individuals have access to different information, undesirable products or services are more likely to be selected in the respective transaction. Also into play comes the lemons principle, which says that in the presence of people in a market who are ready to offer bad or inferior goods, these inferior goods tend to wipe a market out of existence if it isnà ¢Ã¢â€š ¬Ã¢â€ž ¢t empirically possible to distinguish the good products from the bad. As such, if a seller is in a lemons situation, that seller has to send the right signals to the prospective buyers in order to distinguish oneself from others to gain a customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s confidence in the services and terms of an agreement that is bei ng offered. In this manner, typically, good companies and products are able to distinguish themselves from the bad, empirically paying higher dividends, higher returns, and the like. 6.Compare and contrast mature profitable firms with stable cash flows with firms with higher risk (dependencies on economy) with unstable cash flows. What risks do they take in regards to leverage use, tax shields, and trading information between managers and investors? Mature profitable firms with stable cash flows are far more reliable in terms of fiscal and economic responsibility to shareholders than are higher risk firms with unstable cash flows. In certain situations, these high-risk firms, which are largely dependent upon the economy, have the ability to provide their shareholders with extreme levels of success and wealth, should the economy be in a state of influx and prosperity. In such cases, significant increases in cash flow allow shareholders to believe à ¢Ã¢â€š ¬Ã¢â‚¬Å" albeit irrat ionally à ¢Ã¢â€š ¬Ã¢â‚¬Å" that these firms are extremely successful and will reap these kinds of benefits for years to come, essentially making their shareholders rich. However, such prosperous situations are not the norm, and occur only in situations of economic prosperity, which sets shareholders up for instances of exceeding loss as well as success, which can leave these shareholders only breaking even or finding themselves at a loss. As such, the more reliable investment appears to be the more reliable and stable companies, which bring in reasonable and steady cash flows over time. Just as a shareholder takes on a risk in becoming involved with these high-velocity companies, so do managers and higher-ups within these firms. For instance, taxation, trade and everyday business may seem easy enough when a company or firm is experiencing high levels of cash flow and success, but when this success goes away; companies like this are prone to implode upon themselves. As such, these times of uncertainty significantly harm investors, managers, employers and all shareholders, who exist at the mercy of a volatile company. References Cox, J. (2012). à ¢Ã¢â€š ¬Ã…“Companies are sitting on more cash than ever before.à ¢Ã¢â€š ¬Ã‚  CNBC. Web. Retrieved from: https://www.cnbc.com/id/49519419 on 23 May 2014. Investopedia. (2014). à ¢Ã¢â€š ¬Ã…“Dividend payment procedures.à ¢Ã¢â€š ¬Ã‚  Investopedia. Web. Retrieved from: https://digitalcommons.law.umaryland.edu/cgi/viewcontent.cgi?article=2863context=mlr on 23 May 2014. Kelch, T. (1993). à ¢Ã¢â€š ¬Ã…“Shareholder control rights in bankruptcy.à ¢Ã¢â€š ¬Ã‚  Maryland Law Review, Web. Retrieved from: https://digitalcommons.law.umaryland.edu/cgi/viewcontent .cgi?article=2863context=mlr on 23 May 2014. The Street. (2014). à ¢Ã¢â€š ¬Ã…“Securities Definition.à ¢Ã¢â€š ¬Ã‚  The Street. Web. Retrieved from: https://www.thestreet.com/topic/47042/securities.html on 23 May 2014.

Karl Marx s Theory Of The Classical Era - 1699 Words

Karl Marx’s Ideas on Sociological Theory in the Classical Era Karl Marx was a philosopher, journalist, and revolutionary socialist. Born in 1818 in Prussia, part of the German Confederation. He later became jobless and was forced to move to London, England where he spent the rest of his life writing. Marx had many ideas that created radical people in several countries and ideas that cause many opinions to flourish about capitalism and democracy. Marx’s specific theories about society and their leaders are better known under the term called Marxism. Marxism is a way that Karl Marx analyzed and critiqued capitalism where he believed societies progressed through class struggle. Where there was this conflict between the proletariat and the†¦show more content†¦His plans were to graduate from college and then follow in his father’s steps and get his law degree and then being a professional in philosophy because he loved to write even for journals or newspapers, anywhere where people could read his thoughts. Because of Marxâ₠¬â„¢s radical ideas about government his own Prussian government did not except him. He became an outsider in his country and a critic of the revolution. He was not a revolutionary rather than teacher of revolutions. He was more of a talker than a doer. After graduating from the University of Berlin in 1836 Marx wrote a local newspaper. The newspaper was called â€Å"Rheninische Zeitung† and his excerpts in the newspaper started to give him lots of attention throughout the world. Eventually the government shut down his newspaper in 1843 and after that Karl Marx was a free-lance writer. He wrote a lot about the society throughout Europe and early Germany at the time and had his own new idea for a government that should take place. A government where there was one leader over everyone and everyone else would be treated equal. It sounds simple on paper but when in the real world it fails miserably. The revolutions of 1848 were a series of revolutions that over through many exist ing governments in Europe. Initially the revolutions were democratic and were meant to overthrow the existing feudal structure. Karl Marx and his friend Friedrich Engles published their book, The Communist

William Paley s Watch - 972 Words

An inquiry that continually torments the world regardless of what religious range you originate from is: Does God exist and in the event that he does how would we truly know? Yes, there is the Bible that records for each authentic occasion, yet numerous individuals look for another hypothesis of verification that can rest there interest. Presently the teleological contention is the second standard a posteriori dispute for the vicinity of God. Possibly the most mainstream variety of this dispute is the William Paley s watch hypothesis. For the most part, this contention says that following to seeing a watch, with all its mind boggling parts, that facilitate carefully to keep time, one must surmise this bit of hardware has a pioneer, since it is to an incredible degree offbeat to have essentially appeared by some particular means, for occasion, movement. The skeleton of the contention is as per the going with: 1. Human obsolescents are eventual outcomes of adroit structure; they have a reason. 2. The universe takes after these human old pieces. 3. Along these lines: It is likely that the universe is a delayed consequence of watchful design, and has a reason. 4. Of course, the universe is perpetually more identity boggling and goliath than a human relic is. 5. In this way: There is evidently a capable and endlessly clever fashioner who made the universe. Do these centers seem, by all accounts, to be far bring or does the philosophical conflict, truly exhibit the vicinityShow MoreRelatedWilliam Paley, An English Clergyman And Philosopher1026 Words   |  5 PagesCotta May 8, 2017 PHIL-110 Crawley Paley Perplexed William Paley, an English Clergyman and philosopher, has had us scratching our heads for centuries as we ponder the connection between the artificial and natural world. He suggested that if we were walking along a path and hit our foot against a stone, we would assume that the stone had been there forever because it was something â€Å"natural†. However, suppose for a second, that the stone was replaced with a watch. This is where the cogs start turningRead MoreExamine the Key Features of the Teleological Argument?1491 Words   |  6 Pageswhich would be God. Additionally, William Paley’s analogy of the watchmaker states that the order evident in the universe demands an explanation. The watch serves as an analogy for the world as it demonstrates design and purpose, hence the argument is one of design qua purpose. All parts of the watch work together to fulfill a function, which is to tell the time, just as the universe does – it functions to allow life. An intelligent designer had to make the watch work so perfectly, which, when thisRead MoreWilliam Paley And David Hume1260 Words   |  6 PagesPlato and their students, including Aristotle. This discussion will focus on the differing works of authors William Paley and David Hume and I will argue that there is an Intelligent Designer for our universe. William Paley believes in the existence of God and that through his watchmaker analogy in â€Å"Natural Theology† he can prove that there is an Intelligent Designer. David Hume addresses William Paley’s argument in â€Å"Dialogues Concerning Natural Religion† and argues Paley’s analogy is weak since HumeRead MorePersuasive Essay : Paley s Argument From Design1217 Words   |  5 Pages PH 101-01 Instructor: Jason Smith Student: Donna Delva 6/16/17 Critically evaluate Paley’s argument from design. What kind of argument is it? How does it work? What does it aim to show? Does Paley succeed? Why or Why not? While theology may take God s existence as necessary on the basis of faith, or discovery, many philosophers have thought it’s possible to prove by reason that there must be a God. The teleological argument, also known as the argument from design simplyRead MoreEssay on Discussion of the Existence of God767 Words   |  4 Pagesother people do not believe in God existence and they have based their proven by many theories and scientific points. Many people have tried to prove Gods existence with rational argument. Like Aquinas, Abelard, Pascal, Anselm and Paley are a few that have attempted this. These approaches are of limited helpfulness, for though we can approach God with our reason and detect him in nature. More importantly, these logical proofs for Gods existence miss the point. Read MoreRegarding The Topic Of Theism, One Must Take Into Consideration1357 Words   |  6 Pagesrebuttals that raise skepticism within my scientific self. 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Supreme City is a book that basically explains the growth of New York City from early 1920’s and all the people behind the growth. Miller categorically insists that most of the people who contributed to the growth of the Manhattan came from other places (Miller 12). Such notable names are: Florenz Ziegfeld who invested on entertainment, William Paley and David Sarnoff who both founded radio networks in New York, Elizabeth Arden, and Helena Rubenstein who both were dealingRead MoreThe Media And Its Popularity933 Words   |  4 Pagesseltoriginating mechanism but It is the work of a more superior being. So is region backed by science or do they contradict? This controversy Is disputed in many societies and some even incorporate it in politics. This topic is still a hotspot in today s media and its popularity has led it to be debated and discussed in many universities around the world. With this in mind, the general public have held many views on this subject. However, there are many Questions than answers. This argument, fortunately

Report on Recruitment in an Organisation Provides Recommendations

Question: Discuss about the Report on Recruitment in an Organisation. Answer: Introduction Human resource management is an approach that allows business organisations in managing the human element in their workplace using a number of functions, such as recruitment and selection, training and development, career development, performance management, etc. By improving the working conditions for the employees and by fostering stronger employee-employer relations, human resource management aims at optimising the performance of the workforce to achieve better organisational results (Hendry, 2012). Recruitment and selection Recruitment and selection is one of the most important core functions of a human resource manager. Recruitment and selection is a process of identifying job openings or vacancies in a workplace, advertising those job openings through difference channels and then finding out the best possible candidates to fill up the identified job openings (French Rumbles, 2010). Recruitment and selection has become one of the most important aspects of strategic human resource management as business organisations are aiming at achieving higher organisational success by strengthening their recruitment and selection procedures and also by aligning them with the organisational strategies. Retail industry Retail industry was started back in the ancient industry and involves the process of selling consumer goods and services through multiple channels of distributions. From small brick and mortar shops, the retail industry has grown to large supermarkets, such as Walmart, Tesco, etc. (Rahate, 2015). The earlier retail industry saw the growth of small brick and mortar shops which were run by owners along with 2-3 employees to assist them in customer dealing. The present day retail industry is dominated by multinational companies that have large supermarkets and are even offering online goods and services. Such retailers have millions of employees working for them throughout the world. For such retail companies, human resource management is posing a big issue when it comes to recruitment and selection of employees for running business operations. Therefore, this assignment is aimed at studying the problems that the retail industry is facing in recruitment and selection of employees and re commending strategies that will allow the human resource managers in retail industry to address these issues. Recruitment and selection problems in retail industry The retail industry has grown to be one of the biggest industries on the world and is offering employment opportunities to millions of people throughout the world. Due to high number of employees working in the retail sector and because of increasing competition in the retail sector, the human resource managers are facing a number of issues in managing the human resources working in the retail sector. Some of the major problems that the human resource managers in retail sector are facing are related with leadership development, goal alignment, employee perception, promotion and policies, internship programs, overstaffing, etc. but one of the critical human resource issue that almost all retail companies are facing is related with the recruitment and selection of employees. A lot of job seekers have been attracted by the retail industry because of the opportunities that it offers along with flexible working hours. However, from a human resource point of view, recruiting candidates for retail companies have always been tougher than it seems because of some peculiar characteristics of the industry. First of all, in the retail industry, the process of recruitment and selection is highly decentralised. Even though some major retail companies have their own dedicated human resource departments but most of the companies in retail industry do not have dedicated human resource departments and all of the recruitment activities are carried out by the store managers themselves, who are no experts in the field of human resource management. For such managers, recruitment and selection can be a difficult task as they lack sufficient knowledge about the assessment criterions that are used by professional human resource managers to assess skills and competencies of the employees. Thus, efficiency and return of recruitment and selection programs in most of the retail companies is not as high as expected (Barrett, 2016). Secondly, one of the most annoying problem related with recruitment and selection in the retail industry is the fluctuating human resource demands. As discussed above, most of the companies, which are operating in the retail sector, do not have dedicated human resource departments that can continuously analyse the human resource demands of the workplace and design recruitment and selection processes to fulfil the demand. Also, the profitability and the productivity of the companies operating in the retail industry are highly dependent on the number of employees that are handling the workplace and are restocking the shelves. More the employees, more is the productivity while the profitability will suffer whereas lesser employees will result into a decreased productivity but increased profitability (Brunot, n.d.). Furthermore, the retail industry also experiences higher employee turnover ratios than any other industry. Added with lesser workforce planning, higher employee turnover rati ons can make recruitment and selection a night mare for the managers of retail companies outlets. Therefore, a major issue that the retail industry faces in terms of recruitment and selection is the fluctuations in demand and supplies. Thirdly, recruitment and selection in the retail industry is generally face-to-face. Most of the times, the candidates applying for a job in a retail company will directly approach the store manager of a company and will ask for a job. The store managers, on the other hand, can be quite busy and cannot allocate much of the resources to recruitment and selection programs. It is also possible that in time of great need, the managers might not have any candidate seeking a job in their company and even if they have, the need of the moment makes them recruit the employees without making any assessment of their skills and qualities. As a result, face-to-face recruitment or walk-ins are also major problems related with recruitment and selection in the retail industry (KHILLARE, 2016). Fourthly, for retail companies, the rate of no-shows for job interviews in very high. Retail industry can experience instances where they are on a hunt for candidates but no potential candidates turn up for the interviews because of the stiff market competition. Further, the retail industry also experiences seasonal customer activities. In holiday seasons, Christmas month, Halloween, etc. retail companies can experience a steep rise in customer foot fall in their stores and to deal with such fluctuations, the retail companies have to keep the process of recruitment and selection as an on-going process. High employee turnover ratios also add up to the problems and there is almost a vacancy or more available in the retail companies and the managers are recruiting employees throughout the year. A major disadvantage of on-going recruitment process is that it can disrupt the business and training costs may not be recouped if the workforce leaves even before they can make a contribution to wards the productivity of the organisation(employer.careerbuilder.com, n.d.). Fifthly, retail companies are highly dependent on their workforce for becoming productive and competitive. A retail company that is not recruiting the right people at the right time might not be able to offer the right services to the customers and the level of customer satisfaction might decrease, which will further increase the chance of losing a loyal customer. Moreover, the competition amongst retail companies is so high that the customers can always find a new retail company in case they are not satisfied with the services of the company that they have currently chosen. Thus, recruiting and selection of wrong people can also lead to the failure of a company (Singh Mishra, 2008). Sixthly, retail companies require very less educational qualification or prior experience to hire a candidate, which exponentially increases the pool of candidates applying for jobs in retail companies. Because of an increase in the pool of candidates, the retail industry receives application from a diverse group of candidates that are different in terms of age, religion, cultural backgrounds, ethnicity, etc. and each one of them is an eligible candidate for the job. Thus, it becomes very difficult for the human resource managers working in the retail industry to identify the people who can contribute more towards the success of their organisation. Lastly, another major issues related with recruitment and selection in the retail industry is that the recruitment decision made by the managers can have a potential impact on their customer base. For example, candidates applying for a job in retail sector are also going to be the customer of the business. They must have approached the manager for a job because they are attached to the brand and a rejection can potentially have an impact on the customer base (Barrett, 2016). Recommendations to deal with recruitment and selection problems in retail industry The competition in the retail industry and the presence of some major players that are dominating the global market makes it imperative for retail business organisations to deal with their problems in the field of recruitment and selection so that they can remain competitive in the market. Some recommendations that can be used by retail outlet managers to deal with recruitment and selection issues are discussed below: First of all, workforce planning should be treated as an integral part of business. By regular workforce planning, the managers working in retail outlets will be able to understand the human resource demand and supply patterns in the industry and will be able to cope up with the fluctuating demands in a better way (Staniforth, 2016). Secondly, retail companies should offer carefully designed compensation and benefits to the employees. by providing the employees with added benefits, the retail managers can bring down the employee turnover rates, which would ultimately help them in dealing with certain issues related with recruitment and selection of employees. Thirdly, the managers working in retail outlets should consider hiring employees on a temporary basis when the seasonal activity or footfall is there. The managers should be prepared for seasonal activities in advance so that they do not feel a shortage of human resources and can carry out their work operations with ease. Temporary human resources will also help them in serving the customers in a better way and maintain profitability. Further, it will also help in dealing with fluctuations in human resource demands (Retailthinktank.co.uk, n.d.). Fourthly, the managers working in the retail sector should store candidate profile as an important piece of information. Rather than rejecting the job requests put up by candidates, the management can store their information and can keep it for future references. This way, neither the candidates will feel demoralised and the company will also be able to find potential candidates whenever there is a need in the outlets. Lastly, the companies operating in the retail industry should make it a point that they have more employees working as permanent staff rather than hiring staff on a temporary basis. The managers can then arrange for training and development of permanent staff members in order to keep them engaged, motivated and also to retain them in the longer run. This way, managers will also be able to execute succession planning strategies for such employees and it will become easier for the managers to strengthen their recruitment and selection process because of the presence a dedicated and engaged pool of employees. Conclusion The retail sector is one of the most competitive sectors in the global economy and is responsible for a major portion of the global GDP and employment opportunities. The issues that retail companies are experiencing in the recruitment and selection of their employees can have a major impact on their business activities if not dealt with properly. Thus, it is important for the managers operating in the retail industry to get more awareness about these issues and look into the above recommendations in order to strengthen their recruitment and selection process. Bibliography Rahate, A. (2015). Top 15 Worlds Biggest Retail Giants. Retrieved May 19, 2017, from listovative.com: https://listovative.com/top-15-worlds-biggest-retail-giants/ French, R., Rumbles, S. (2010). Recruitment and Selection . Managing and Developing People. Hendry, C. (2012). Human Resource Management . Routledge. Barrett, D. (2016, October 2016). Six recruitment challenges that retailers must conquer. Retrieved May 20, 2017, from hrzone.com: https://www.hrzone.com/talent/acquisition/six-recruitment-challenges-that-retailers-must-conquer Brunot, T. (n.d.). HR Challenges in the Retail Sector. Retrieved May 20, 2017, from yourbusiness.azcentral.com: https://yourbusiness.azcentral.com/hr-challenges-retail-sector-1648.html KHILLARE, D. S. (2016, March). Challenges Of Human Resource Practices In Retail Sectors : in India. International Journal of Engineering Technology, Management and Applied Sciences, 4(3). employer.careerbuilder.com. (n.d.). Recruiting and Retaining Top Talent in the Retail Industry. Retrieved May 20, 2017, from employer.careerbuilder.com: https://employer.careerbuilder.com/jobposter/small-business/article.aspx?articleid=ATL_0170RETAIL Singh, B. D., Mishra, S. (2008, July). Indian Retail Sector- HR Challenges Measures for Improvement. Indian Journal of Industrial Relations, 44(1). Staniforth, J. (2016, March 31). The best online recruiting resource for HR, In-house Recruiters and Hiring Managers. Retrieved May 20, 2017, from vacancy-filler.co.uk: https://blog.vacancy-filler.co.uk/how-to-fix-the-recruitment-problems-in-the-retail-sector Retailthinktank.co.uk. (n.d.). What changes are retailers making to their HR strategies and operational practices to adapt to the recession? Retrieved May 2017, from www.retailthinktank.co.uk: https://www.retailthinktank.co.uk/whitepaper/what-changes-are-retailers-making-to-their-hr-strategies-and-operational-practices-to-adapt-to-the-recession/

Themes Of The Book Eaters Of The Dead Essays - Eaters Of The Dead

Themes Of The Book Eaters Of The Dead My book is titled ?Eaters of the Dead? by Michael Crichton. There are two major themes to this book. First is man versus man and the second is man versus nature. The nature that man is going up against in this book were the supernatural monsters that terrorized the town. Through most of the second half of this book the northmen are fighting the monsters or preparing to. This is the main struggle of the book. These monsters are the ?eaters of the dead.? The second struggle of this book is man versus man. This man versus man struggle is an internal struggle between the tribe. It is a struggle for power within the tribe. This occurs at the beginning of the book. Two men of the tribe are struggling for power after the leader has died. Those were the two main themes of the book. The main conflict in this book is the men fighting the monsters. Throughout most of the novel the men are fighting these monsters. The monsters had killed many people in the village and kept returning to kill some more. These monsters were the main problem within the town and the villagers had to kill them. This conflict was finally resolved when the men killed off the rest of the monsters. The main character in this book was Ibn Fadlan. He is the only character in this book that you really get to learn a lot about. At first he seems like he he is a stuck up Arab rich man. He criticizes the northmen and doesn't go along with their rituals. He basically doesn't give them any respect at all. Then he starts to change though. After being with the northmen for awhile he starts to become like them. He acts like them, and he takes part in some of their rituals. A symbol in this book was the huge sword that the leader of the tribe uses. It was a huge sword and it symbolized strength and leadership. It was a huge sword so it would take a very strong person to use it. It showed you who the leader of the tribe was. This contributes to my man versus man theme. It can show you that he was stronger than the rest, so he deserved to be the leader. An American issue that relates to this is the struggle for power in American companies. Many companies are having a struggle for power within. This was just like how there was a struggle for leadership of the tribe. The two northmen were struggling for power of the tribe. This can be closely associated with the struggle for leadership today in America. I enjoyed this book a lot. It had lots of action and adventure. It had very many exciting points. It was a book that I actually like to read. I think that it should be on the list of new and improved books. I'm sure that many kids would like it. Book Reports

Global politics of the environment essays

Global politics of the environment essays Lorainne Elliot begins his article by saying that an exact definition of global environmental governance cannot be grasped but he depicts it as a useful shorthand to describe changes in contemporary international political practice; as a metaphor for world collective life; and as a Trojan horse for neoliberalism and green corporatism. From his opening statement, we can already see that Elliot views global environmental governance with a suspicious eye. Elliot goes on to state that global environmental governance reflects, constitutes and masks global relations of power and powerlessness. It is neither normatively neutral or benign Elliot looks beyond the surface and digs deeper into the structure of the problem, claiming that global environmental governance normalizes neoliberal policies, as embodied by the WTO and World Bank. Further, our group believes that since the US contributes a large sum to the funding of the WB and WTO, and since most of the employees of the said institutions are trained under neoliberal principles, these institutions reflect the interests and the voice of the US. This is an embodiment of the realists hegemonic stability theory. Going back to the article, Elliot further argues that local voices are marginalized. The author states that environmental issues are gaining importance because environmental degradation is happening at an alarming rate. Because of this, there is a pressing need for global environmental governance. Elliot also sees the state as incapable of addressing the transnational environmental issues. Furthermore, Elliot asserts that environmental issues are eroding state sovereignty because of its transnational nature. Elliot argues that the key to global environmental governance is democracy. Democracy will ensure justice and equity. More often that not, the voices of Third World countries and the poor are not heard and they are the ...