Tuesday, December 31, 2019
Andrea Butler s The On The Bathroom Floor - 917 Words
Sitting on the bathroom floor, sixteen year old Andrea Butler is curled up in a ball crying more than ever before. Several minutes pass before she stands up and looks into the mirror. She tries to compose herself by brushing through her dark brown hair, but as she looks back down at the small, plastic stick with two pink lines on it, her chocolate colored eyes immediately fill with tears once again. ââ¬Å"What am I supposed to do?â⬠Andrea thought over and over in her head. She was among the top of her class. She had a plan. She wanted to graduate school and to attend college. Everyone expected the best from her; no one thought she could make a mistake that could cost her so much. ââ¬Å"If I wouldnââ¬â¢t have gotten pregnant with you when I did, I donââ¬â¢tâ⬠¦show more contentâ⬠¦My mother told me that she could never redo her mistake; she ââ¬Å"fell in love with me.â⬠ââ¬Å"The first person I told about my pregnancy was my best friend Stacy; she was very supportive through the whole process.â⬠As Stacy would ironically later go through the same thing, they have always stuck together through thick and thin. Even today, nineteen years later, Stacy and Andrea are still best friends. Through the process she then told her boyfriendââ¬â¢s sister-in-law Jennifer and her boss Katherine. As soon as the news was shared, it spread like wildfire through the small town of Springhill, Louisiana. ââ¬Å"Suddenly everyone known, I had no time to protect myself and tell the people who really mattered.â⬠Before she even had the chance, her boyfriend and father both had already heard the news. My father was in disbelief and her father was furious about the situation, but even more furious that he had to heard the news from someone that was not his daughter. The story of my mom telling her mother is now a story that the entire family laughs at. ââ¬Å"She slowly got up and walked towards her car, she then drove off quickly. She apparently went to the liquor store because she came back within a few minutes with a daiquiri in hand. She comforted me, and told me everything would be okay.â⬠Through the nine months, my motherââ¬â¢s life was full of doctor appointments, the purchases of several baby items, and the planning of her
Monday, December 23, 2019
Analysis Of The Movie Network - 849 Words
ââ¬Å"Right now, itââ¬â¢s an industry dedicated to one thing. Profit.â⬠This quote by author, Paddy Chayefsky, perfectly sums up the motives behind the movie ââ¬Å"Network.â⬠From hiring soothsayers to risking a manââ¬â¢s mental heath for the sake of a successful television program, the characters in ââ¬Å"Networkâ⬠have truly been blinded by fame and top ratings. This satire fiercely describes just how far a television network will go to achieve such accomplishments. In the 1950ââ¬â¢s, television changed American entertainment from showing sitcoms to serious news broadcasts. In the movie ââ¬Å"Network,â⬠the setting revolves around a news station, where the ratings are suffering and the workers are growing desperate for attention. Television executive, Diana Christensen, is tirelessly racking her brain for the next big hit, and her ideas are deemed crazy by more than just one coworker; however, in desperation, her ideas are put to the test on live te levision. Even after news anchor, Howard Beale, has a mental breakdown on camera, Christensen fights to keep him on the air because of the rising success the network found in his entertaining yet uncontrollable rants about a failing society (Ebert). Eventually, Christensen manages to secure Howard Bealeââ¬â¢s very own television series featuring a soothsayer to predict future shows and Beale himself to demand people to take control of their lives. Almost all of his shows ended in him falling flat on the ground from fainting; this reveals the toll that the program isShow MoreRelatedAnalysis Of The Movie The Social Network 1069 Words à |à 5 PagesEssay 4: The Social Network Critique The movie that we watched in class is called The Social Network. Directed by David Fincher and released in 2010, it is an informative film which attempts to shed light on the real story behind the creation and rise of Facebook, starting from the beginning and revealing all the possibly hidden or not as well known facts behind it. Though some of the movie may be ââ¬Å"Hollywoodizedâ⬠and exaggerated for a dramatic depiction, with exceptional acting and a compelling storyRead MoreAnalysis Of The Movie The Social Network 2111 Words à |à 9 Pagesfriendships. Different cultures have different viewpoints in how they define honor and the traits that accompany them. Japan has a different definition than America in terms of honor. Each culture defines honor in its own unique way. In the movie, The Social Network Mark and Eduardo each represent different forms of honor in American culture. In Great mirror of male love Korin represents the Japanese culture of honor. Sohachiro represen ts true Japanese honor culture by taking his own life after hisRead MoreDigital Piracy Essay1225 Words à |à 5 Pageshowever, simplified the unauthorised duplication and storage of copyrighted content and caused movie piracy to soar substantially (Fetscherin, 2005). Digital piracy can generally occur offline (through the copying of discs and files) and online (through the downloading and sharing of files). A recent study revealed that approximately 24% of global internet traffic is copyright infringing, with peer-to-peer networks accounting for half of that amount (Envisional, 2011). Furthermore, internet piracy facilitatesRead MoreColonial Broadcasting Company1382 Words à |à 6 Pagesï » ¿ Analysis of the case: ââ¬Å"Colonial Broadcasting Company.â⬠1. Regression Equation from the data is RATING = 13.36 ââ¬â 0.6483*BBS + 1.397 *ABN Rating for the respective network is obtained by substituting the values in the above equation as follows Rating for ABN BBS CBC Value to be substituted for ABN 1 0 0 BBS 0 1 0 a. Rank the networks in terms of average ratings for TV movies during 1992: Rating for ABN = 13.36 ââ¬â 0.6483*0 + 1.397 *1 = 14.757 Rating for BBS= 13.36 ââ¬â 0.6483*1Read MoreSWOT The Walt Disney Company960 Words à |à 4 PagesSWOT Walt Disney SWOT analysis 2013 Strengths Weaknesses 1. Strong product portfolio 2. Brand reputation 3. Competency in acquisitions 4. Diversified businesses 5. Localization of products 1. Heavy dependence on income from North America 2. Few opportunities for significant growth through acquisitions Opportunities Threats 1. Growth of entertainment industries in emerging markets 2. Expansion of movie production to new countries 1. Intense competition 2. Increasing piracy 3. StrongRead MoreAnalysis Case On Use Of Business Analytics Framework1345 Words à |à 6 Pages ââ¬Å"Moneyballâ⬠Analysis Case Study on the Use of Business Analytics Frameworkâ⬠Dheeraj Dwivedi School of Professional Studies, Northwestern University, Spring 2016, Section 58 Ã¢â¬Æ' ââ¬Å"Moneyballâ⬠Movie Analysis Case Study on the Use of Business Analytics Framework ââ¬Å"Moneyballâ⬠movie is about the war between intuition and statistics. I would start my analysis with one of the many interesting quotes in the movie. ââ¬Å"The problem we re trying to solve is that there are rich teams and there are poorRead MoreThe Domestic Box Office Gross Receipts Counted1080 Words à |à 5 PagesThe domestic box office gross receipts counted of $9.66 billion in movie ticket sales in 2014, a 4.5% retreat from 2012 and 2013. This totals about 1.18 billion movie tickets sold. The top grossing films of the year were Guardians of the Galaxy, Captain America: The Winter Soldier, The LEGO Movie, Transformers: Age of Extinction, Maleficent, X-Men: Days of Future Past, Dawn of the Planet of the Apes, The Amazing Spider-Man 2, Godzilla, and 22 Jump Street. Regal Entertainment recent released thatRead MoreNetflix1509 Words à |à 7 Pages2% of all downstream usage during primetime hours, up fromà 31.6% in the second half of 2013, according to reports. That means almost a third of North America was watching some TV series or movie on Netflix between 7-11pm! Business Model and Strategy Netflix is the worldââ¬â¢s leading Internet television network with more than 48 million streaming members in more than 40 countries. Starting from a simple DVD by mail model and shifting to online video-on-demand, Netflix has been the pioneer with moreRead MoreExternal Analysis Of Disney Environment Analysis922 Words à |à 4 Pages External Analysis Globalization is forcing all companies, large and small, to focus on a larger competitive landscape. For many companies hypercompetition arises and they are left with stunted growth while competing with other businesses across the globe. Fortunately, Disney has constructed one of the worldââ¬â¢s most recognizable and beloved brands in the entire world. To understand the external environment in which Disney competes, we must first discern which market we wish to analyze. Disney ownsRead MoreBlockbuster Business Analysis1092 Words à |à 5 Pagesï » ¿ Table of contents 1 Introduction The rental movie market is a high competitive and dynamic market, dominated for several years by Blockbuster, with its pioneer business model of delivering convenience to the costumers looking for home entertainment. The company was a model for the industry during the 80ââ¬â¢s, 90ââ¬â¢s, but with the new age of online movies, the consumer behavior changed drastically, and other companies, as Netflix and Redbox, providing online content and innovative
Sunday, December 15, 2019
The Best Cover Letter I Ever Received Free Essays
The Best Cover Letter I Ever Received Harvard Business Review ââ¬â David Silverman ââ¬â 1:18 PM Monday June 15, 2009 In my last post I talked about how to make your resume more likely to catch the attention of a hiring manager. As a follow up, Iââ¬â¢d like to discuss cover letters. Hereââ¬â¢s my basic philosophy on them: donââ¬â¢t bother. We will write a custom essay sample on The Best Cover Letter I Ever Received or any similar topic only for you Order Now Thatââ¬â¢s because the cover letters I see usually fall into one of three categories: The recap: The resume in prose form. Itââ¬â¢s redundant, harder to read than the resume, and provides no additional insight. The form letter: This says, essentially, ââ¬Å"Dear Sir or Madam: I saw your ad in the paper and thought you might like me. â⬠And itââ¬â¢s clearly a form letter where maybe they got my name and company right. If theyââ¬â¢re lucky, I will still take the time to read their resume after being insulted with a form letter. The ââ¬Å"Iââ¬â¢m crazyâ⬠: This oneââ¬â¢s rare, and it expands on the resume of experience with some personal insights. Examples range from the merely batty (ââ¬Å"I find batik as an art form has taught me to become both a better person and project manager. ) to the truly terrifying (ââ¬Å"I cast a pentagram hex and the central line pointed towards your job listing. I know you will find this as comforting as I do. ââ¬Å") There are really only a few times to use a cover letter: 1. When you know the name of the person hiring 2. When you know something about the job requirement 3. When youââ¬â¢ve been personally referred (which might include 1 and 2) Under those conditions, you can help your cause by doing some of the resume analysis for your potential new boss. To illustrate, hereââ¬â¢s the best cover letter I ever received: Dear David: I am writing in response to the opening for xxxx, which I believe may report to you. I can offer you seven years of experience managing communications for top-tier xxxx firms, excellent project-management skills, and a great eye for detail, all of which should make me an ideal candidate for this opening. I have attached my resume for your review and would welcome the chance to speak with you sometime. Best regards, Xxxx Xxxx Hereââ¬â¢s what I like about this cover letter: Itââ¬â¢s short. It sums up the resume as it relates to the job. It asks for the job. The writer of this letter took the time to think through what would be relevant to me. Instead of scattering lots of facts in hopes that one was relevant, the candidate offered up an opinion as to which experiences I should focus on. And that means the writer isnââ¬â¢t just showing me skills related to the job, heââ¬â¢s showing me heââ¬â¢ll be the kind of employee who offers up solutions ââ¬â instead of just laying problems on my desk. What do you think? Have you ever secured a job thanks to a cover letter? Whatââ¬â¢s your view on the value ââ¬â or lack thereof ââ¬â of cover letters? How to cite The Best Cover Letter I Ever Received, Papers
Saturday, December 7, 2019
Group and Innovators Organization Management â⬠MyAssignmenthelp.com
Question: Discuss about the Group and Innovators Organization Management. Answer: Introduction: Every organisation has its strategic objective goals, which it wants to achieve, the only way to do so is by aligning goals of individuals in accordance with the organization. Hence it becomes extremely important to evaluate what the team needs and wants to achieve. In absence of any achievement, the organization and the individual would be moving in different direction with no synergy what so ever between the team and the organization (Hu Randel, 2014) Checking information on a current team member or a potential member is important to analyse and understand his role, his interest in the job and his efforts in the path of innovation. If the member is not open to innovation, he can never work on implementing new things and will bring no newness on the table Cross fertilizing ideas is as important as brainstorming, it brings more ideas in the company and at the same time develops an environment of constant innovation. One members idea can be a breeding ground for another idea from another team member and so on (Blum, 2016) Differences are bound to be in the team, owing to culture, race, caste, social circle etc., but these differences should not come in the way of productivity of the team. Hence, respecting every individuals views, suggestion would make them feel empowered and they would contribute more towards the success of the organization. Relationship between the employee and the employer has to be cordial and based on the fruits of loyalty and trust. Thus it is important for the employer to involve the employee in setting of ground rules, because employees are the ones who will have to follow that conduct, and if they are involved in the process right from the start, they would adhere to them, as they literally signed for it. Members follow their team leaders, hence the ways leaders adopt to communicate or do a task, and the same will be done by the team members. Hence, if the managers want the team to have deep roots of innovation, it should start right from them(Bain Kleinknecht, 2016) Share tasks and responsibility increases the accountability for the job and also helps in optimum utilization of the skill and resources, thus sharing and agreeing on tasks are really important to increase the productivity. Thinking helps in bringing innovation and radical ideas on the table, Challenging activities makes the employee perform at his best levels and collaboration helps in team building and synergy in the team Every individual works for him first, hence if we reward him on a personal basis and recognize him that motivation will stick with hi for longer duration. One should model behaviour that supports innovation because it is the building stone for innovation in the company. A company focussing on strategically innovation needs the leader to lead from the front, hence very important. In order to support innovation , the top management should be radical with their thinking and must have a risk appetite to challenge the existing system External ideas or stimuli gives motivation to the existing team, the work previous thought leaders have accomplished is something the employees look forward too, hence in motivational terms it is really important. Steve Jobs (Apple), have given inspiration to millions, the wave of innovation started after his breakthrough innovation in the field of technology. Hence, drawing inspiration from the thought leaders helps them to focus more strongly on their goals (Wellner, 2015) Information sharing, knowledge and expertise with other team members will make them feel trustworthy, confident and at the same time able to learn. Learning is a continuous process; hence, this will help them in immense learning. Another useful aspect of learning is, it helps in identifying the skill set one requires to have for fulfilment of his individual goals, and also try and understand the viewpoint of the leaders or the managers in the company. Testing and challenging idea is a part of B-testing, it helps to identify the gaps or lacunae in the ideas or the process, hence, extremely important to test and challenge the ideas. Another advantage is, it helps to improvise the idea. Discussing ideas gives more clarity on a particular idea or a topic, and helps to brainstorm further. The first step to innovation is keeping your mind open and discuss endlessly, working in a coherent atmosphere provides breeding ground for more innovation and better learning (Li, 2013) The team has really come together after implementing the new ideas and clear cut objectives laid down for them, debrief has helped them immensely in understanding the requirement of the organization and the managers. Reflection on activities helps to understand and measure the process. Its very important to look for inspiration from outside; it helps in learning about the fault and also provides a great insight on the quality of work or the idea. The opinion is non-biased and hence a better platform to learn. The clear cut benefits of discussing the challenges of being innovative in a constructive manner is important, as it helps to ascertain the difficulty in the road ahead, it helps team to have a fair understanding of the challenges, and also gives them a sense of responsibility that they are working towards something radical and something which has not been there in the first place, it provides a sense of accomplishment (Yeh Walter, 2017) As answered in the earlier questions, taking ideas for improvement helps big time in identifying the future challenges, which can help in building long term or futuristic strategy and in turn helps the team to pick the lead and work. This helps in stopping the process of reinventing the wheel every time. Innovation is a term which has hugely become popular in the last decade or so, hence celebrating it is important in order to create a community and also set examples for other. Successful innovation motivates other that nothing is impossible, with the team work, right direction and a determination to do something new, innovation can be achieved. References: Bain, D. and Kleinknecht, A. eds., 2016.New concepts in innovation output measurement. Springer. Blum, M., 2016. Platform for Innovation, Part IMaximizing the EMR.The Journey Never Ends: Technology's Role in Helping Perfect Health Care Outcomes, p.83. Hu, L. and Randel, A.E., 2014. Knowledge sharing in teams: Social capital, extrinsic incentives, and team innovation.Group Organization Management,39(2), pp.213-243. Li, C.R., 2013. How top management team diversity fosters organizational ambidexterity: The role of social capital among top executives.Journal of Organizational Change Management,26(5), pp.874-896. Wellner, K., 2015. Introduction. InUser Innovators in the Silver Market(pp. 1-8). Springer Fachmedien Wiesbaden. Yeh, S.T. and Walter, Z., 2017. Determinants of service innovation in academic libraries through the lens of disruptive innovation.College Research Libraries,77(6).
Friday, November 29, 2019
Unit 7 case study free essay sample
The first thing I would do in this case would be to introduce myself and let Mike and Sally know that I am going to do my best to get them through this rough time in their lives. I would then ask them both to tell me how they feel and try to better understand the situation and build rapport with the both of them. After this I would begin to deal with how Sally is feeling because it seems as though she is taking the loss much harder than her husband Mike. I would have Sally explain to Mike how she feels about what has happened and try to get him to understand her point of view to do this I would have to utilize role playing meaning that I would have Mike play the role of Sally and vice versa. While this was going on I would continue to comfort them and reassure them that everything is going to be alright and that it takes time to get through a loss such as this. We will write a custom essay sample on Unit 7 case study or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page According to Kubler-Rossââ¬â¢ theory it appears that Sally is going through the denial and shock stage as well as the bargaining and anger stage. This is evident because according to Mike Sally keeps praying and asking god to take her and bring back their son. One intervention that I would attempt here is to have them both talk about the loss and help them to identify and express their feelings about the loss. Mike is Sallieââ¬â¢s support system so we need to help him to understand what it is that Sally is going through and that she is grieving differently than he is and that eventually with the help of therapy and love she will pull through this. The way that I would do this is by walking Mike through the different steps of the grieving process. I would explain to him that according to the Kubler-Ross 5 stages of death and dying. The first one is Denial and Shock. I would explain to him that Sally is currently experiencing this stage and reassure him that it is ok for her to feel this way. The second stage is anger which it seems that Sally has started this stage as well Now I would explain the last 3 stages to Mike as well and just reassure him that Sally will get through these she may sufferà more than one stage at a time. The same thing would apply with Sally she would need to understand that although it may seem cold and heartless that Mike is grieving in his own way and that he too will eventually come to terms with their loss. There are many support groups available for parents that have lost children I would refer both of them to attend one of these groups as well as see a therapist. Mike and Sally may want to plan ahead for such things as holidays and birthdays because these can be some of the hardest times to get through. Seeing that both Mike and Sally are religious brings to mind the church they may seek counsel from their pastor or priest about how to cope with this spiritually. Some other suggestions may be to write down your feelings in a journal and go back and read them when you begin to get upset. You may also just cry because it helps to get the feelings out into the open and just let them flow. These are just a few suggestions that come to mind when looking at this case study. Being that their son was only 6 when he passed they may want to begin a charity in his name as a way to remember him. I would reassure Sally that it is not her fault that her son died and that she was and still is a good mother and that it is ok to let go and move on. I would suggest that they both take classes on how to deal with the grieving process that way they can support each other and work through this as a team. It may take Sally years to get over the loss of her son but with the right therapy and support from her husband I am sure that she will pull through and recover fully. I would suggest that they continue to come and see me on a weekly basis so that we may cove r more options for them and to see where they are in the grieving and healing process. There are many other interventions that may work here as well such as giving them information about how other cultures and people grieve they may find something that works better for them then what I have suggested here. Remind them that they must make room for individual differences in how they grieve and not to worry because again they will both pull through this and live a long life together. Finally after seeing Mike and Sally and how much they love and care for one another I might make the suggestion that they have another child or look into getting a pet to take their mind off of what happened and help them to begin the healing process. This may be looked down upon but I feel that if they are able to give their love and affection to another living thing it may help them to work through the grief and b e better because of it. References Kanel, K.(2013). A Guide to Crisis Intervention (3rd ed). Cengage Learning
Monday, November 25, 2019
The Green Programs Of Marriott International Corporation Tourism Essay Essays
The Green Programs Of Marriott International Corporation Tourism Essay Essays The Green Programs Of Marriott International Corporation Tourism Essay Essay The Green Programs Of Marriott International Corporation Tourism Essay Essay Since 1987, the construct of sustainability was mentioned on a co-ordinated international platform, the motion towards sustainability had been expanded over the Earth. The governmental and non-governmental organisations, corporations and consumers those concentrating on exist in harmoniousness are progressively with the milieus and environmental footmarks. The cordial reception industry besides non exclusion, therefore the sustainability construct had begun to derive the impulse in this industry. ( Ernst and Young, 2008 ) Alison Sperry ( 2010 ) defined that Traveling Green is doing the day-to-day determinations with responsible that benefits to the environment and besides can cut down waste and pollution. This construct besides encourages a life style of recycling, utilizing chemical-free merchandises, utilizing the alternate energy beginnings such as the air current and solar, and cut downing the dependence on fossil fuels for energy. Hotel concerns developed and operated by the ingestion of important sums of natural resources which are affected the sustainability of the natural environment. The field of corporate societal duty ( CSR ) therefore, has grown well over the last decennary due to an increasing figure of companies officially recognizing the impacts they have on the environment, on society and on the economic system ( Jones et.al, 2006 ) . Ernst and Young ( 2008 ) defined that green: non a black and white issue. The travelers that concerned about the environment were progressively and they ever make their ain finding as to what constitutes greenness in the housing industry. Harmonizing to Deloitte Survey ( 2008 ) showed that, consumers, employees and single travelers start to refer more about the cordial reception industry s sustainability. Most of the persons besides start to alter their life styles and accepting higher green criterions for themselves and besides to the companies that they cooperate with. Marriott International has more than twenty-year committedness to get down the environmental saving. The Marriott International is working toward a greener, healthier planet and their operating units are employ methods to protect the milieus of natural and resources ( Marriott, 1996 2010 ) . Every twelvemonth, the Marriott International and its proprietors had spent around 10 billion merely for purchase the merchandises and services for its 3,300 hotels around the universe. Marriott International besides spread outing its green hotels and edifices portfolios. Besides that, about 275 of Marriott s hotels have received the ENERGY STARAÃ ® label from the U.S. Environmental Protection Agency ( Marriott, 1996 2010 ) . Last but non least, Marriott International besides was ranked 42nd out of 100 in The Greenest Big Companies on Newsweek s first-ever list. Furthermore, Marriott International besides gets the 2009 Tourism for Tomorrow Award for Sustainability in the classs of the Global Tourism Business by the World Travel and Tourism Council ( WTTC ) ( Marriott, 1996 2010 ) . The Problem Statement The job of this subject is about how Marriott International. Inc. patterns their traveling green plans in their belongingss. Marriott International Corporation is a taking worldwide cordial reception company ( Marriott, 2010 ) . Presently, Marriott has more than 3100 of lodging belongingss is in the United States and 65 is in other states and districts through 17 housing, and holiday resort ownership trade names ( Marriott, 2009 ) . Marriott Corporation has more than twenty twelvemonth committedness with environmental saving ( Marriott, 2010 ) . In 2007, Marriott formed a Global Green Council, a cross-functional squad of senior executives that collaborated with Conservation International, a planetary environmental organisation, to measure its patterns, set long-run ends, develop an environmental strategic program and catalyse its advancement ( Marriott, 2010 ) . Five-point Environmental Strategy of Marriott International was developed in coaction with Conservation International which are includes ( Marriott, 2009 ) : Reduce Consumption of Water, Waste and Energy Greener Buildings, enlargement of LEED-certified hotels Greening Supply Chain Protecting the Rainforest with Carbon Beginnings Employee A ; Guest Battle Over the last decennary, for, the Marriott International corporate organized the Going Green plans which involved in energy preservation by changed 450,000 of the visible radiation bulbs with fluorescent lighting, installed around 400,000 low-flow of showerheads and lavatories and besides introduced the linens reuse plans in their hotels worldwide ( Marriott, 2009 ) . Besides that, the Marriott s Retro-Commissioning ( MRCx ) plan, be aftering procedure and a comprehensive rating that helps their belongingss which conducted more than 30 of their largest belongingss become as energy efficient as possible ( Marriott, 2009 ) . Through the undertakings to completed over last few old ages and those which presently under manner, Marriott anticipate salvaging 12 million kW of power ( Marriott, 2009 ) . In general, belongingss find that after it implement all the recommendations that evolved from an MRCx appraisal, it energy costs decrease 5 to 25 per cent, they are besides accomplishing on the norm and a payback on their investing in merely 1.4 old ages ( Marriott, 2009 ) . In the Americas, Marriott achieved a 2.2 per cent decrease per available room ( Marriott, 2009 ) . In late 2009, through a partnership with a U.S.-based landscape gardening company, Marriott adopted a climate-specific attack to landscape gardening, utilizing native workss and restricted coloring material pallets to cut down irrigation demands and cut the sum of fertiliser required to maintain workss healthy ( Marriott, 2009 ) . In 2009, Marriott s landfill waste in the USA totalled 726,993 dozenss which reflects a 17 per cent decrease from 2007 ( Marriott, 2009 ) . Additionally, its recycling rate besides was increased to 69 per cent and all the heading quarters waste besides was diverted from the landfill to the waste-to-energy works ( Marriott, 2009 ) . Besides, Marriott spread outing its existing of Reduce, Reuse and Recycle plans that already in topographic point of 90 per cent of hotels which included invitee room and meeting suites ( Marriott, 2009 ) . Forty Marriott International hotels are expected to have the LEED enfranchisement from the USGBC ( USGBC, 2010 ) . In add-on, Marriott international s planetary Headquarters in Bethesda was received the LEED-Existing Building Gold position ( USGBC, 2010 ) . Furthermore, the U.S. Environmental Protection Agency besides had awarded Marriott International for three following old ages with its Sustained Excellence Award and more than 275 of its hotels besides placed the ENERGY STARAÃ ® label ( Marriott, 2010 ) . Marriott has teamed up with many Corporation or organisations to assist them back up their attempts to continue and protect the environment ( Marriott, 2009 ) . For case, Amazonas Sustainable Foundation ( FAS ) , Conservation International, ENERGY STARAÃ ® , International Tourism Partnership ( ITP ) , and U.S. Green Building Council ( USGBC ) . The Marriott s protecting the rainforest scheme is aid to protect 1.4 million of estates in endangered rain forest for the Juma Sustainable Development Reserve ( Marriott, 2009 ) . Research Questions The followerss are some cardinal inquiries addressed by his research: Is the Marriott International had practiced the traveling green? How the Marriott International practiced the traveling green in this industry? Why the Marriott international will practise the traveling green? What degree of traveling green plans of Marriott International? What differences between Marriott International s traveling green plan with other companies? Does the traveling green plan addition the income of Marriott International? Research Aims To reply the above research inquiries, this survey seek to carry through the undermentioned aims: To look into traveling green practiced among all Marriott International s belongingss. To find how the Marriott International practiced the traveling green. To find the grounds of Marriott International practiced the traveling green. To analyze the degree of traveling green practiced among all Marriott International s belongingss. To compare the degree of traveling green with other companies. To find the advantages and disadvantages of traveling green in Marriott International. To specify the relation between cordial reception industry and CSR. Theoretical/ Conceptual Framework Conceptual Model Marriott International. Inc. Traveling Green s Programs The schemes and plans of traveling green in Marriott International. Inc. Identify the construct and construction of CSR in cordial reception industry. The Actions that patterns by Marriott International corporate. Theoretical Model This research largely searches on the Marriott International Corporate rehearsing the degree of traveling green in most of their belongingss. The ground why Marriott International become celebrated in traveling green plan because their organized a batch of events or activities to greening their companies. In the cyberspace or newspaper, we can see that Marriott International corporate organized a batch of activities in rejuvenation and acquire a batch of award internationally in greening plan. Besides that, their besides is one of the celebrated go green corporate in the universe. Furthermore, the traveling viridity is non easy to patterns in the companies because it need a batch of resources to do it truly work. Scope and Restriction This survey was carried out among all Marriott International in traveling green plan. The Marriott International, Inc. s operations are grouped into the five concern sections which are North American Limited-Service Lodging, North American Full-Service Lodging, Luxury Lodging, International Lodging and Timeshare. This survey besides for defined the degree of spell green in Marriott International Corporate by Corporate Social Responsibility ( CSR ) . Significance of the Study The important of this research proposal is to measure the degree of traveling green activities that patterns or organized by Marriott International Corporate. Harmonizing to The New York Times ( 2009 ) , the Marriott International announced that they would no longer present newspapers to every guestroom in the forenoon. They merely will present to which guest suites had requested a newspaper or can pick one up in the anteroom. Although that alteration is arguably every bit much about salvaging money more than salvaging trees. Marriott had assessed that it would cut down the newspaper distribution at its hotels to about 18 million merely yearly. Furthermore, this research is for acknowledge people around the universe to cognize how of import and advantages of traveling green in cordial reception industries now a yearss. Now, most of the cognition people are aiming the rejuvenation companies to collaborate with than normal companies. This is why more and more companies traveling to rehearsing greening in their company because followed by the tendency of all around the universe. Chapter TWO Literature Review 2.1 Introduction The literature reappraisal will get down with an indispensable apprehension of the cardinal points needed in order to carry through the purpose of the undertaking. The research will be analysed in the literature to assist build an academic construction on the definition and construct of Corporate Social Responsibility ( CSR ) . The literature will besides measure the intent of sustainable development in the cordial reception industry and its advantages and restrictions. One country which has been peculiarly analysed is the traveling green programmes that pattern by the cordial reception industry as it contains most of the cardinal countries. Furthermore, the literature reviews besides analyzing the positions, theories statements and positions of old writers for appraisal. The literature reviews besides will eventually execute as a beginning with which to analyze the differing positions on these cardinal points place spreads for statement and highlight key issues associated with trave ling green programme in cordial reception. 2.2 Corporate Social Responsibility Definitions and Concepts The field of corporate societal duty ( CSR ) has grown well over the last decennary due to an increasing figure of companies officially recognizing the impacts they have on the environment, on society and on the economic system ( Jones et.al, 2006 ) . CSR issues are now being combined into all parts of the concern operations. CSR is made in the missions, visions and value statements of companies all around the universe ( Ofori and Hinson, 2007 ) . Definitions of corporate societal duty ( CSR ) have, nevertheless, remained an country of deliberation from the constructs really beginnings. A assortment of definitions have been framed. The Commission of the European Communities, Brussels ( 2001, p.6 ) defines CSR as: aÃâ Ã ¦a construct whereby companies integrate environmental and societal concerns in the concern operations and in their interactions with their stakeholders on a voluntary footing. Therefore, CSR is non merely fulfilling legal duties but may besides travel beyond conformity to encompass wider societal, environmental and economic ends ( Brussels, 2001 ) . The construct of CSR is one which has emerged over the last 50 old ages to busy a important function in certain facets of organizational theory and has merely been in broad usage since the 1960s ( Meehan et al. , 2006 ) . CSR was finally recognised as concerns that are portion of society and have the possible to do a positive impact to the societal ends ( Jones et al. , 2006 ) . CSR hence seems to be synonymous with charitable and voluntary Acts of the Apostless by concern administrations designed to better societal accomplishments. Conversely, Donaldson and Preston ( 1995 ) believe that concerns are non responsible to society but responsible to their stakeholders and position CSR from this position. Furthermore, one of most cited definitions of CSR is defined by the World Bank ( 2003 ) , which defines CSR as the duty of concerns to lend to the sustainable economic development which working with internal stakeholders, the local community, and society to better the quality of life which is positive for concern and development. The similarity among these different definitions of CSR is that companies should prosecute in CSR behavior as portion of their organizational scheme. Bevan et Al. ( 2004 ) list nine possible benefits of CSR which include reduced operating costs ; improved profitableness and fiscal public presentation ; enhanced capableness to introduce ; better hazard and crisis direction ; long-run sustainability for companies and the work force ; improved staff committedness and engagement ; good dealingss with authorities and society ; enhanced repute and trade name value ; and enhanced client relationships and increased consciousness of client demands. 2.3 The Sustainability Development of the Hotel Industry International Tourism Partnership ( 2010 ) defines the term green in concern as ab initio related to the environmental issues. It besides has evolved to include all facets of corporate societal duty ( CSR ) and sustainability. Sloan et Al. ( 2009 ) specify a sustainable cordial reception operation as one which manages its resources in such a manner that economic, societal and environmental benefits are maximised in order to run into the demand of the present coevals while protecting and increasing chances for future coevalss. Harmonizing to Green Hotels Association ( 2010 ) , Green Hotels have gained a bridgehead in lodging operators part to society s concern for the environment which focuses on programmes which are designed to cut down solid waste, save H2O and salvage energy. Programme constituents such as towel rack hangers and sheet-changing cards have achieved positive responses by hotel direction staff every bit good as invitees for over 10 old ages. The UK hotel sector would look to accept that it does hold an impact on the environment ( Brown, 1996 ) . This is non merely confirmed by explorative research but besides through the formation of the International Tourism Partnership ( ITP ) . The ITP has published an environmental magazine, the Green Hotelier , whose readership cares about environmentally and socially responsible hotel behavior as focused on positive sustainable travel and touristry development ( International Tourism Partnership, 2010 ) . Harmonizing to research by the Carbon Trust ( Green hotelkeeper, 2010 ) , lifting energy monetary values and revenue enhancements are the biggest concerns confronting the British cordial reception industry in 2010. This position is supported by Alexander and Kennedy ( 2002 ) who find that the most uneconomical and dearly-won of resources usage in hotels are normally in the ingestion of over H2O use, non-renewable energy and besides the overall wastage. 2.4 The province of CSR within the Hospitality and Tourism Industry The province of CSR within cordial reception and touristry endeavors may be somewhat different from that in other concerns. Since 1992, the tendency in the cordial reception and touristry industry has been to concentrate on environmental concerns, usage of engineering, and efficient usage of energy ( Henderson, 2001 ) . European cordial reception administrations have established two enterprises that improve CSR in the European cordial reception sector which are European Federation of Food and Agriculture and Tourism Trade Unions ( EFFAT ) and Green Hotels ( Holcomb, 2007 ) . In 2004, the EFFAT and the Confederation of National Associations of Hotels, Cafes and Restaurants in Europe drafted the understanding parametric quantities for employers to subscribe a joint papers on CSR, refering working conditions, wage, equal chance, preparation, wellness and safety, and restructuring ( The European Agency for Safety and Health at Work, 2008 ) . These combined actions would look to demo th e cordial reception industry s acceptance of and committedness to socially responsible behavior as opposed to externally derived governmental conformity directives. 2.5 Green enterprises, inducements and green wash Nunes and Bennett ( 2010 ) list two classs of green enterprises that are operational in the market place. First, concerns focus on incorporating green characteristics into the design or features of single merchandises, for case, developing a wash detergent that is eco-friendly. Second, larger proportions of resources have been committed to decreases in the sum of waste generated and energy used, and besides to constructing green and restricting CO2 emanations from production. In a major survey, Alexander and Kennedy ( 2002 ) suggest a Zero Waste Approach that includes energy efficiency, H2O preservation and solid waste decrease, which can increase efficiency, provide cost nest eggs, cut down the load of extraction from and waste to nature, and let more resources to be available. This position is supported by Nunes and Bennett ( 2010 ) who suggest that, ideally, green behavior should travel beyond merely making a reclaimable merchandise to a more holistic incorporation of sustainable values into a corporation s nucleus rules and values. Bohdanowicz et Al. ( 2005 ) finds that the handiness of facility-specific informations and entree to information on the relevant best pattern are indispensable for measuring and benchmarking the environmental public presentation of hotel installations. Alexander and Kennedy ( 2002 ) suggest an option for conserving energy which is implement energy-efficient undertakings in infinite warming and chilling systems. For case, The Hyatt Regency International Hotel in New Zealand developed a undertaking to associate energy usage with room tenancy which has saved $ 14,000 of energy yearly ( Hyatt, 2010 ) . Alexander and Kennedy ( 2002 ) suggest that low-flow shower caputs and tap aerators are some options for H2O preservation, which are going common among hotel installations, and the payback period can be three old ages depending on the extent of the undertaking. For case, Green Hotels Association ( 2010 ) observed H2O usage in the La Quinta Inn, San Antonio that had saved 180,000 gallons of H2O per twelvemonth by put ining ultra-flow lavatories, low-flow shower caputs and air outing lights-outs in each room. In add-on, Priesnitz ( 2008, p.14 ) defines greenwash as: aÃâ Ã ¦.the Acts of the Apostless of misdirecting consumers sing the environmental patterns of a company or the environmental benefits of a merchandise or service . Whellams and MacDonald ( 2007 ) label the corporations as greenwashers if they spend more on corporate image advertisement that boasts about human-centered programmes than on the programmes themselves, for case, charities, contributions or parts. Greenwashing can hold fatal effects on a company s trustiness. This position is supported by Priesnitz ( 2008 ) who points out that non merely are a house s clients deceived, but, that greenwashing can besides destroy relationships with all stakeholders. 2.6 Case survey of Accor and Hilton Based on their entire room figure and location of their hotels, the two hotel groups selected for instance survey were Accor Hotel Group ( Europe ) and Hyatt Corporation ( USA ) , being in 2009 the top 10 hotel groups in UK ( Caterersearch, 2010 ) . Marriott International Corporate besides is one of the top 10 hotel groups in UK. A Company Number of hotels Number of suites Number of hotels worldwide 1 Whitbread Hotel Company 577+ 40,000+ 580 2 Intercontinental Hotels Group 248 34,955 4,200 3 Travelodge ( DubaiA International Capital ) 372 23,150 380+ A 4 Accor Hotels 138 19,996 4,000 5 Hilton Hotels Corporation 78 16,566 3,200 A 6 BestA Western 285 15,305 4,035 A 7 Wyndham Worldwide 122 12,274 7,000 8A Marriott Hotels 58 12,015 3,200 A 9 CarlsonA Hotels WorldwideA 50 9,718 1,030 10A TheA Rezidor Hotel GroupA A 42 7.759 380 Table 1: Top 10 Hotel Groups in the UK, 2009 by figure of sleeping rooms. ( Caterersearch, 2010 ) Accor Group Hotels Accor presently manages 4,100 hotels under 13 different trade names worldwide ( Accor, 2010 ) . The doctrine of Accor Corporation is regard for diverse civilizations and integrating environmental best patterns in all its belongingss operations ( Accor, 2010 ) . The ends of their Earth Guest programme, launched in 2006, are to cut down H2O and energy ingestion, promote balanced nutrition and to duplicate, in three old ages, the figure of hotels that offer fair-trade merchandises ( Accor, 2010 ) . The programme is divided into two parts which are a societal duty development country ( EGO ) and an environmental duty development country ( ECO ) ( Accor, 2010 ) . EGO is includes programmes for local development, the protection of kids, combating of epidemics and the publicity of healthy feeding. Besides that, the ECO is includes the decrease of H2O and energy use and the saving of biodiversity, every bit good as the upgrading of waste sorting and recycling ( Accor, 2008 and 2009 ) . The Hotelier s Environmental Charter is Accor s internal benchmarking tool and provides the local hotel directors with guidelines for environmentally sustainable concern patterns. Harmonizing to the World Travel and Tourism Council ( 2010 ) , the 88 % of 4,000 Accor s belongingss has adopted Hotelier s Environmental Charter. The Charter gives hotel directors and employees clear instructions on how resources can be saved in the countries of energy, H2O and waste ( Accor, 2008 ) . The first and 2nd point of Hotelier s Environmental Charter considers is energy and H2O ( Accor, 2010 ) . Compact fluorescent visible radiation bulbs are used in 82 % hotels for countries that remain light 24 hours a twenty-four hours ( Accor, 2010 ) . Accor besides continued to advance the usage of renewable energy beginnings, put ining solar-powered hot H2O systems in 32 hotels in 2009, with a sum of 99 hotels now equipped worldwide ( Accor, 2009 ) . Accor is actively involved in H2O preservation steps and H2O use per occupied room, sum was reduced 4 % between 2006 and 2009 ( Accor, 2009 ) . Furthermore, flow-regulators have now been installed in showers and spigots in 89 % of hotels ( Accor, 2009 ) . Accor actively promotes waste screening and recycling every bit good as eco-designed merchandises for case, 51 % of hotels recover paper, composition board and glass ( Accor, 2008 ) . Accor has improved its public presentation in waste direction by manage with a dedicated waste direction faculty that monitor the sum of waste produced per room, the recovery rate and the cost of waste disposal ( Accor, 2009 ) . Waste Traceability chiefly concerns the separation of waste, where the company already achieves a high mark in France owing to its proactive information policy ( Accor, 2008 ) . Harmonizing to Accor ( 2010 ) , their hotel prefers eco-labelled providers. In 2002, Accor dispatched an environmental buying charter to its buying administrations every bit good as to over 2,000 preferable providers ( Sloan et al. , 2009 ) . Hilton Hotels Presently, Hilton Hotels Corporation has more than 3,200 hotels and 525,000 suites in 77 states. In 2009, Hilton is new planetary central office in McLean, Virginia which meets the highest environmental criterion for his design, operation and building ( Environmental Leader, 2009 ) . Besides that, the sustainability mark that aims in coming 2014 by Hilton Hotels was announced. Those include: 20 per cent: Reducing energy ingestion from direct operations ; 20 per cent: Reducing end product of waste ; 20 per cent: Reducing CO2 emanations ; And 10 per cent: Reducing the H2O ingestion. Furthermore, Hilton had already started to green its belongingss operations. Hilton says that it was reduced CO2 emanations in Hilton hotels that take parting by more than 64,000 dozenss or 56 per cent of its C footmark. Those are from the debut of carbon-free electricity at its belongingss in the United Kingdom and Ireland. Furthermore, they besides said that, it has besides reduced around 10 per cent in over the last two old ages for the H2O ingestion and energy use. Hilton Hotels besides reported that, in May it has delivered more than 10 per cent in last twelvemonth of energy nest eggs which across more than 80 hotels in the Europe. Drumhead In 2007, the Association of Corporate Travel Executives had conducted a study which showed that, merely 1/3 of corporate travel policies had promoted the sustainable touristry. Most of the major hotel ironss are looking the ways to take part in green construct to their hotels ; the H2O and energy preservation became popular ways to greening. Therefore, Marriott International has set their end to take downing the GHG emanations around 2.2 million lbs by 2010 which said by Ed Fuller- the president and pull offing manager of Marriott. Besides that, Wolfgang Neuman of Hilton Hotels besides looking toward the eco-friendly in solar warming, air-conditioning and heat recovery systems to pull out the H2O waste from another system and utilize it in other ways in short term period. Equally good as the 200 of Accor s hotels in France will hold Solar Panels by 2010. Chapter THREE Methodology 3.1 Introduction In this research, in order to obtain the wide of cognition about environmental runing practise in the hotel industry, a broad scope of secondary beginnings will be reviewed. In add-on, research scheme adopted was to carry on multiple instance surveies in two top hotel and Marriott companies in Europe and the USA. The chief informations aggregation techniques used in this research survey was certification analysis and content analysis. This chapter is divided into three subdivisions. First, the interpretative stance in the field of information system is examined ; 2nd subdivision is about the building of the secondary research design which deals with the research design and covers the grounds for choosing resources ; 3rd subdivision is describes the research attack followed in instance survey research. 3.2 Research Design Presently, the secondary literatures have increase quickly, peculiarly as new resources which are developed or ready through the cyberspace ( Saunders et al. , 2009 ) . In this research undertaking, secondary research will let the research to integrate suited and dependable informations of green operation enterprise in cordial reception, so that all the gathered informations can react to the research inquiries associating to the green activities of hotel in Europe and the USA. Secondary research differs from primary research in the aggregation of the docudrama is non the duty of the analyst. Stewart and Kamins ( 1993 ) was point out that the analyst enters the image after the informations aggregation attempt is over in secondary research. On the other manus, in primary research, the analyst is responsible for the design of research, the aggregation of informations and the analysis and sum-up of the information ( Stewart and Kamins, 1993 ) . Secondary informations although, has deficiency of direct control of the day of the month, type, and process for roll uping and recording of the informations ( Sauder et al, 2009 ) , nevertheless, secondary information is more fiscal and clip economy. For case, secondary informations peculiarly non necessary to wait for or pay to marketing research workers for a research undertaking to roll up primary informations. By utilizing secondary informations, writer can has more clip and attempt in analyzing and construing the information, as it has already been collected. Secondary research moreover may increase the quality of the research by aiming the existent quandary and errors. Consultation on secondary resources increases the efficiency of the research by aiming existent spreads and inadvertences in cognition. Primary research therefore has non been used in this undertaking due to the broad assortment of secondary informations has been found. Primary research methods such as, questionnaires or interviews will non supply relevant information for this subject. On this footing, it can be concluded that secondary research is the chief beginning of information provided in this survey including information from academic diaries, books, corporate studies and cyberspace. Nevertheless, writer should analyze carefully the information gathered to find its cogency and dependability. This is because the research merely uses one sort of research theoretical accounts and the statement generated about research subject. 3.3 Beginnings of Datas 3.3.1 Secondary Data Secondary research informations is the cardinal resource of information incorporate in this research proposal. However, the different secondary resources might hold different type of information. A guideline for obtain valid and dependable information from different resources hence, has been designed which can establish in Table 2. Type of information Resources that might hold that information Established facts and figures Reference books ; official publications ; authorities web sites General information on a subject Books of gathered articles ; text books ; net sites of relevant administrations Reappraisals of the literature on a subject Journal articles ; books of gathered articles Publications of recent research consequences Journal articles ; proceedings of conferences Professional and academic arguments Journal articles ; net sites of relevant administrations ; newspapers Table 2: The types of resources that provided different information. In order to warrant the writer s statements and offer a scope of information about the research subject, secondary informations such as academic diaries, books, corporate study and the cyberspace besides have been used. The academic diaries have presented different positions and doctrines of Corporate Social Responsible ( CSR ) construct and environmental operating practise in cordial reception. The Diaries such as the International Journal of Contemporary Hospitality Management , Cornell Hospitality Quarterly and Journal of Culture, Tourism and Hospitality Research exemplify some research surveies that have been conducted refering the green operation enterprise in hotel industry. All the relevant information gathered from these diaries will be analysed and used to measure the degree of traveling green plans of top hotel companies. However the diary ever assembled to research purposes that differ from the current research ; hence, informations and complex statements has to be carefully evaluated, every bit good as understood and interpreted. The information in books is usually written in more well-organized and accessible manner which will assist to clear up the research inquiries and aims. In this research, text book is seldom used due to insufficient related books in library about sustainability in cordial reception. Sustainability in the Hospitality Industry by Sloan, hence, is the lone book that used to acquire elaborate information about sustainable development and green wash issues in cordial reception industry. On the other manus, the cyberspace and corporate one-year study besides had provided plentifulness of updated information. The information about green plan in hotels could be easy collected on cyberspace or diary without an existent visit or interview. However, there are mass of information resulted in false leads, hence, the research worker should believe carefully to see the dependability of the information. 3.4 Sample Techniques In this research proposal, a written analysis was showed to make a contextual apprehension of the CSR and Sustainability Development within the cordial reception industry. Relevant information were found and analysed. The related information which is included the Corporate Social Responsibility ( CSR ) construct, sustainable development in cordial reception, and green wash context, every bit good as green enterprises operational in the market place ; and environmental betterments activities practised in hotels. An analysis was conducted by developing an lineation from three constituents of the environmental operating practise which are Environmental Management System ( EMS ) , Certification and labelling strategies, and A Zero Waste Approach. This lineation was used to analyze the information that found when treatment of the instance surveies analysis within Marriott Corporation, Accor Hotel Group and Hilton Corporation. The research method employed within the survey of Marriott Corporation, Accor Hotel Group and Hilton Corporation is the Case Study. This is basically qualitative in nature, although some surveies have tried to unite a multiple case-study attack with quantitative analysis. To mensurate these Hotel groups making the Sustainable Development in their belongingss, a content analysis of companies web sites, one-year studies and societal responsible studies available on the Internet was conducted. These hotels groups maintain their companies web sites and supply information sing the sustainable development issues in PDF format, besides the papers of their one-year study and societal responsible study. The case-study attack to the Marriott Corporation, Accor Corporation and Hilton Corporation will enable the clear trial of the Environmental Operating Practise that being practised by those hotels group. The advantages that offered by this case-study will enable extended the environmental betterment activities to be identified within those Hotels Group as a whole. Possibly most significantly, these instance surveies tend to be selective, concentrating on one or two issues that are cardinal to the system being studied. 3.5 Statistic Treatment of Datas In order to happen the statistics for this research proposal, the faculty in Quantitative Method had been used which are Correlation and Regression. The correlativity was used is to find the relationship between three corporate which are Marriott International, Accor and Hilton. Besides that, the arrested development besides will be used to analyze the relationship between green enterprise, inducement and besides the green wash.
Thursday, November 21, 2019
The Rise And Fall Of The American Economy Coursework
The Rise And Fall Of The American Economy - Coursework Example In the US economy, there is a high level of unemployment and the interest rates in the economy are almost down to zero. The inflation is about 2% per year and the Gross Domestic Product (GDP) is increasing at less than 3% per year. It is necessary to raise the GDP growth to about 3% per year while keeping the rates of unemployment and inflation low in the economy. Economic depression in an economy can be controlled by the formulation of effective monetary and fiscal policies. While the Fiscal Policy is administered by the American Government, the Federal Reserve (the Central Bank of America) possesses the power to implement the monetary policies in the economy. These policies are based on a number of laws and theories; Okunââ¬â¢s Law and the Phillips Curve are two such important theories. The Okunââ¬â¢s law states that when actual output grows faster than potential output, unemployment rate in an economy, decreases and vice versa. The rate of output (GDP) growth corresponding to the stable rate of unemployment is then considered as the growth rate of the economy. Thus, it is the empirical relation between the output gap and the unemployment rate. (House of Representatives, USA, p.44) Phillips Curve shows the negative relationship between the unemployment rate and inflation rate in the economy. This implies that in order to reduce unemployment, some amount of inflation has to be tolerated or inflation can be reduced at the cost of rising inflation. (Tucker, 2011, p.453) Wages was not taken as a component of the Phillips curve as in the presence of unemployment, the bargaining power of labor is almost non-existent and thus, wages cannot be considered a key variable. However, Phillips Curve is a short-run phenomenon and there is no trade-off between inflation rate and unemployment rate in the long-run. (Mankiw, 2009, p.789) These two theories are indispensable to study monetary and fiscal policies because they show the relation between output, inflation and unemployment in an economy. A General Framework: The GDP of a country is the sum total of the values of all the goods and services produced within the geographical boundaries of a country in a particular year. Keynesian economics states that GDP can be expressed as the sum of the Consumption expenditure, the investment expenditure, the government expenditure plus exports minus imports. The equation can be expressed as: GDP = C + I + G + (X ââ¬â M)â⬠¦Ã¢â¬ ¦ (1) where C: Consumption expenditure of the households I: Investment expenditure G: Government expenditure X: value of exports M: value of imports Equation (1) represents the real side of the economy where the concerned variables are all real variables. Fiscal Policy: The Government can alter the level of output, consumption, emplo yment and aggregate demand in an economy, using the two main instruments of fiscal policy ââ¬â taxation and government spending. Keynesian economists believe that fiscal policy has a more straightforward and immediate impact compared to monetary policy (Genovese, 2010, p.160), as it affects the real sector of the economy, rather than the monetary sector. Expansionary Fiscal Policy: Equation (1) can also be expressed in terms of personal disposable income of the household sector as: Thus, GDP = C (y ââ¬â t.y) + I + G + (X ââ¬â M) where y: income of the households t: income tax rate in the economy (y ââ¬â t.y): disposable income of the households Therefore, GDP = C {y (1-t)} + I + G + (X ââ¬â M)â⬠¦Ã¢â¬ ¦ (2) When there is a high rate of unemployment in the economy, the Government can reduce the tax level in the economy i.e. the Government reduces ââ¬Å"tâ⬠in the economy. When ââ¬Å"tâ⬠is reduced, the consumers are required to pay less amount of t heir income as tax which increases their disposable income. The householdââ¬â¢s consumption expenditure which is a function of their disposable income, naturally record a rise. In the equation (2), as a result of the decrease in
Subscribe to:
Posts (Atom)