Sunday, February 23, 2020

International Trade Essay Example | Topics and Well Written Essays - 1750 words - 1

International Trade - Essay Example When the overall prices for the raw materials decrease, larger scale manufacturing is valued and the merchandize above the local demand line is exported to generate income and get international product exposure Increased demand for foreign products any where can increase exports in that country. Also the accidental surged demand for any product globally also increases exports. For Example; increased demand for face masks when the Swine Flu spread like an epidemic disease. Sudden demand for warm or cooler clothes, technological changes and need for technologically enhanced products also shift the demand curve upward. The increased governmental spending might improve the standard of living in a country. The improved standard of living might not ensure that people will start buying expensive products but they will try to invest money and save by buying good quality products in relatively lesser currency notes Easier and supple terms of trade have also encouraged exports globally. This means that governments and organizations find it easier and cheaper to get into international trade with the neighboring countries because a loathsome burden of the terms of trade is waived off. The slack terms of trades in term of tariffs and quotas, encourage cross border trades and businesses This graph explains the impact of increased/decreased demand and supply of local product and eventually a shift in the demand for foreign products. The same happens in reality as well, when demand for local products increases, the imports (exports for foreign country) also increases in order to attain the equilibrium in the market. When this happens the magnitude of change in exports (from foreign country’s end) is almost double than that of the change in local products or imports. Considering and applying trade liberalization theories, where the perfect

Friday, February 7, 2020

Human Resource Management College Case Study Example | Topics and Well Written Essays - 750 words

Human Resource Management College - Case Study Example Management of performance starts with recruitment and selection of the right person for the right job goes through the training and development of the employee and finally appraising him. Just because employees have the ability to do the job does not ensure that they will perform satisfactorily. A critical dimension of their effectiveness is their willingness to exert high energy levels - their motivation. In the case of Fifers Bakery, the plant is not automated, and therefore the situation demands for skilled workers, whereas, the majority of workers are unskilled. There are around 400 workers in the organization. The Appraisal process begins with the establishment of performance standards in accordance with the organization's strategic goals. These performance standards should also be clear and objective enough to be understood and measured. Performance is a vital component of the motivation model (Bradt, 1991; Guinn & Corona, 1991). Specifically, we must be concerned with the link between effort and performance, and between performance and rewards. Once performance standards are established, it is necessary to communicate these expectations; it should not be part of employees' job to guess what is expected of them. Too many jobs have vague performance standards and the problem is compounded when these standards are set in isolation and do not involve the employee (Tyler, 1997). To achieve the performance standards, the employees should be well trained in the skills expected out of them. In the case of Fifers, this aspect is lacking as many workers are unskilled. The third step in the apprai sal process is the measurement of performance. To determine what actual performance is, it is necessary to acquire information about it. We should be concerned with how we measure and what we measure. Four common sources of information are frequently used by managers regarding how to measure actual performance: personal observation, statistical reports, oral reports and written reports. The fourth step in the process is the comparison of actual performance with standards. The point of this step is to note deviations between standard performance and actual performance. This is followed by the fifth step, the discussion of the appraisal with the employee (Stack, 1997; Grote, 1997). The final step in the appraisal is the identification of corrective action wherever necessary. The challenges faced by Fifers can be linked to some commonly observed deficiencies. The Supervisor who is evaluating has two roles namely, judge and helper. Sometimes, there may be conflict between the two roles. Expectations of the supervisor and the subordinates regarding the job may be at variance. Very few supervisors have the skill to constructively convey to an employee how to improve his performance. Poor communication keeps employees in the dark about what is expected from them. These challenges could be overcome by taking some improvement measures. The employee job descriptions and performance standards should be periodically reviewed by the supervisors. The employees should be clearly communicated about what is expected out of them. This could help the supervisor and subordinate to overcome any variance in expectations. The employees sho