The Cost Of Idealism Setting The Appropriate Minimum Wage

The Cost of Idealism: Setting the Appropriate Minimum Wage Blake Kaiser-Lack Williams Economics 19 November 2015 In Seattle this past August, Ritu Shah Burnham and his 11 co-workers at a small ZPizza lost their jobs and business to one seemingly beneficial culprit: the minimum wage. After huge wage hikes in cities like Seattle, San Francisco, and Oakland, small businesses similar to Burnham’s have been following suit due to increased labor costs that eradicate businesses’ ability for self-sustainability. But how can such a pure-hearted idea cause such economic degradation across the entire nation? Pure intentions do not always breed good policy, and the cost of idealism†¦. When the first federal minimum†¦show more content†¦Like anything, labor is a commodity. It has costs, a fixed supply, and a shifting demand. The goal of any business is to find the equilibrium point of this commodity. For every business, that will be different. But if the minimum wage reflects social needs over economic needs, then it is artificial. Although the idea of Congress raising the federal minimum wage is well-intentioned, its effects on states with varying costs of living will be radically disproportionate, while a wage that is too high will lead to negative consequences for consumers, employees, and businesses alike without stimulating the economy, ultimately hurting the very people the wage hike seeks to help. When it comes to raising the minimum wage, a state by state approach is one of the only effective ways to properly handle the diverse costs of living across the nation. This is because the cost of living across states is highly disproportionate as some states won’t be able to handle the wage increases while some will be unaffected. Created by the Bureau of Economic Analysis, Regional Price Parities (RPP), a type of price index that measures price differences across regions, shows this exact trend. With a national average RPP of 100, states like Mississippi with an RPP of 86.4 and Hawaii with 117.2 show this distinct difference as these states have an RPP difference of more than 30, meaning high price differences. In easier to understand terms, a wage of say $10.10

Sustainability Reporting Of The United States - 1672 Words

Abstract Sustainability reporting in the United States is still a work in progress. While more countries around the world are requiring companies to report the effects of their business activities as part of their annual report, this practice is still voluntary in the US. Even though sustainability reporting is not required, companies generally disclose sustainable information on their websites or through social media. Being social responsible builds a certain type of bond that brings internal and external stakeholders together. Many companies in the US have taken action and developed their corporate governance model that will meet their needs as well as the needs of the people around them, thus creating a better environment for shareholders and stakeholders. Currently, most companies that issue sustainability reporting follow the Global Reporting Initiative (GRI) standards guidelines. The GRI standards are designed to achieve transparency, and it has become the most common set of standards used amongst organizations for sustainability reporting. This research paper was written with the purpose of providing some answers as to why sustainability reporting in the United States should be mandated by regulators. The paper briefly describes the GRI standards and guidelines, the benefits of sustainability reporting, some relative advantages limitations in adopting sustainability reporting, as well as provides a few examples of companies that have successfully adoptedShow MoreRelatedSustainability and Triple Bottom Line Reporting Essay1628 Words   |  7 Pagesfocus on the longevity of the organization. The successful business understands the concept of sustainability and sustainable development. 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Organizational Culture Marketing Strategy and Plan

Question: Task 1- 1.1 Company overview (M S) A brief background on the company 1.2 Company overview (NISA local) A brief background on the company Understand the relationship between Organisational Structure and Culture 2.1 What is organisational structure and culture? (AC1.1) Define organisational structure Give examples of different organisational structures e.g. functional, Product, Centralised, de-centralised, geographically based, Matrix) Define organisational culture Give examples of Role, power, person, task culture. You can also mention norms, values and beliefs here also) 2.2 Compare and contrast the organisational structure and culture MS and NISA local This can be done in a table format: 2.4 Impact on performance (AC1.2) Define performance Explain how the relationship between organisational structure and culture can have an impact on the performance of MS. (Look at this from a positive and a negative point of view) 2.5 Influence on individual behaviour (AC1.3) State the factors that influence behaviour at work (For example: Motivation, Culture, Satisfaction of employees, Adaptability of the organisation-organisational change, Management, Leadership, Up-bringing, Education and training etc.) Pick 2 factors and define them Then state how they impact on behaviour in the work-place? Task 2- Understand different approaches to management and leadership ( AC2.1, 2.2, 3.3) 3.1 Leadership styles (AC2.1) Define leadership State which styles are used in MS and NISA local, this can be done in a table format: Explain further which style is more effective and why? 3.2 Management styles (AC2.2) Define management Pick 1 management theory and explain how it has affected the practice of management today generally. (Examples are Scientific, Bureaucratic, Classical Admin, Contingency, Systems, and Human Relations. 3.3 Management approaches Task 3 Leadership and motivation 4.1 Changing leadership style Define change management Explain how the change in leadership/CEO can have an impact on staff. (Motivation and satisfaction). Find examples in MS when Sir Stuart Rose left and Marc Bolland took over. 4.2 Motivational theory Define motivation Compare 2 motivational theories; this can be down in a table format. How useful do you think these motivational theories are to managers today ( look at the positive and negative points)? Answer: Introduction According to (Writing, 2015), Organizational Behaviour is the field of study that analyzes the performance of the individuals as well as group within an organization in corporate industry. MS (Marks Spencer) is one of the UK based leading retailer. It is specializing in selling high quality home products, clothing and luxury food products to the customers. NISA Local is a unique member owned organization, which helps independent retailers remain competitive in the food and drink markets. Relationship Between Organizational Structure And Culture Organizational Structure Organizational structure defines how the tasks are to be divided, coordinated and grouped in organizations. By structure, it means how the leadership is to be chosen, how decisions are to be made and how the members are to be accepted. Functional Organizational Structure In functional structure, the activities are to be grouped together by some functions such as procurement, production, marketing, research and development. For example, the senior managers of various areas reported to the director who has the responsibility of various operational areas. Product Organizational Structure Product based organizational structure separates a company by geography, products, projects and activities. For example, an executive of Kraft products would also be responsible for all types of products under that label. Centralized organizational structure The decisions are to be taken by top level managers. For example, in a trucking company, the manager takes the operational decisions and sends information to all drivers individually through dispatches. Decentralized organizational structure In decentralized organization, the decisions are to be taken by both mid level as well as low level managers. For example, franchise organizations which control the development of the product and also take staffing decisions. Geographically based organizational structure All business units are allowed to operate into geographical units and they report to the central headquarter who administers the functions such as marketing and planning. For example, support representative in India would only be able to speak with their customers from India. Matrix organizational structure In matrix structure, there is multiple numbers of reporting lines that means there are more than one formal manager. For example, in matrix structure, the individuals from finance, product and marketing departments have discussions with each other about formulating the strategies (Writing, 2015). Organizational Culture It is the set of attitudes as well as beliefs of the employees and the management that will help to influence the behaviour of the employees within an organization. Power culture: Sir Alan Sugars organization, where all the decisions are to be taken by Alan such as wages of employees, who will get selected etc. It shows that one person can control over the whole organization. Role culture: It is based on the structure of the organization and work is to be decided via rules and regulations. An example is MS where one person will not control the whole business but many other people should take decisions depending on their job role. Task culture: It makes team to perform a task. Every individual in the team will have different skills, so no one has a special position to take the decisions. For example, London 2012 Olympics is task culture as many people worked together to complete the project. Person culture: An individual person has the authority to take decisions regarding tasks and activities. Example includes doctors, surgeons, barristers etc (A Baker, 2015). Organization Structure And Culture Of MS And Nisa Local Organization Structure Culture MS Flat organizational structure (Administrative level to front line employees) Quick turnover Honesty Hard work No frills attached NISA Local Corporate Structure (Industrial advisory Board Centre Site Director University policy committee) Corporate culture In case of MS, the original culture is derived from the founders family. The culture is based on honesty, hard working, and quick turnover and also no frills attached. In MS it can be seen that these values are evolved into the companys culture. A flat organizational structure is to be followed by MS. Difference On Structure And Culture The organizational structure of NISA Local consists of Industrial Advisory Board (IAB), University Policy Committee (UPC) as well as Centre Site Director. IAB makes the recommendations on projects and Centre Directory manages the operations of Centre, which acts as a liaison with university administration and members of the companies (Janiijevi, 2015). Impact On Performance Performance is the required output of an organization that is to be measured against its goals as well as objectives. The culture of MS plays an important role to understand their organizational performance. The following list of beliefs as well as values is to be found by MS: The quality of the products are to be offered at reasonable prices The employees are to promoted within the organization The company have to build their long lasting reputation in the marketplace MS does not take the advantage of the experienced staffs who know the demand of the customers; it leads to bureaucratic structure which should hamper the flexibility of their business.The structure of MS has an impact on the performance of their business. The structure has shaped with the strategy of MS. Influence On Individual Behaviour Motivation: Motivation is a feature that motivates the individuals to act towards a desired goal. In the workplace, the motivational factors that motivate the employees to perform are achievement, growth, social status, power, rewards etc. Leadership: Leadership is the action of motivating the employees to achieve the goal. Leaders play an important role to influence the behaviour of the individuals. Leaders help the employees in their work, guide them and upgrade the knowledge area (MacDonald, 2015). Impact Of Individual Behaviours At Work The companys performance depends upon the performance of the employees that how the individuals should communicate with each other. If there is a lack of communication between the individual and other members of the group then it will affect the performance of the company. Different Approaches Of Management And Leadership Styles: Leadership Styles: According to Crosby and Bryson, (2005), Leadership is a process, by which members of a team are motivated to achieve the goals. There are various types of leadership styles. But the most commonly used leadership styles are Autocratic, Democratic, Paternalistic, Bureaucratic, Laissez Faire, Charismatic and Missionary leadership style. M S (Marc Bolland) NISA local Leadership Styles Followed Follows Consultative style of leadership, which is defined as the style which focuses more on the experiences, skills and ideas of others. NISA local follows Democratic or Participative leadership style. Examples The marketing department of M S before launching new product in the market, they consult with the others of their organization and then they rush straight for launching a new range of product. NISA local is association of many retailers, thus before taking any decision; the leader needs the help of the others. Consultative style of leadership includes those managers who usually have more listening power and thus, want to consult with the other members of the company before making any decision and implementing it, for more sources of opinion. On the other hand, Democratic/ Participative leadership style allows the followers to participate in decision making process and encourages them to demonstrate interest, initiative, drive, imagination and creativity for enriching the plans of the organization. Management Styles: In order to achieve specific goals, the coordination of the activities is known as management. On the other hand, management styles are the specific ways or manner of making decisions and managing the staffs and their job activities in the organization (Mahajan, 2011). Generally, there are many management theories, like Bureaucratic, Scientific, Administrative, Systems, Classical, Human Relations and Contingency. Max Weber (1864 - 1920), is the Father of Bureaucratic Management Theory. This theory is based on the principles stated by Frederick Taylor in his scientific management theory. Like, Taylor, Weber also put stress on efficiency, but also warned about the danger of emphasizing technology at the cost of emotion (Dr.S.Saraswathi, 2011). All the above stated key elements of Bureaucratic Theory are affecting todays management effectively (Trondal, 2011). For example, now a days, in any organization, a clear job role is stated by the employer during the process of an interview only, the hierarchy is maintained from the senior most post like manager to lower designations like assistant manager, officer, clerks accordingly. Lastly, choosing the right people for the right job has become essential in order to execute the task effectively (Donohoe, 2012). Management Approaches: M S leadership team NISA local Management style Bureaucratic style is followed, which is defined as the leadership where by adding control layers, power, problems are solved. Contingency style is followed here. According to this approach, managers have to manage and take decisions, analyzing the total situations. Example M S is Bureaucratic as decisions are taken according to pre defined plans and actions are taken accordingly. NISA is an association of different retailers, there may be times when different conflicts arise among the members. Bureaucratic style is better as all decisions are taken with utmost importance and all disagreements or conflicts are removed at each stage. Contingency style is based on making decisions according to the situations and as such accurate decision making becomes difficult here. Leadership And Motivation: Change in Leadership Style: Generally, change management is defined as a systematic approach to deal with both the changes that is, the change from perspective of a firm as well as the individual. Both motivation and job satisfaction are affected when the leader and his leadership style is changed, as with the change in the leadership style, the motivating factor, the importance of the employee for the organization, all changes. These changes may be positive or may be negative. In case of M S, when Marc Bolland took over the leadership, the following successful changes in management took place. They are M S was in huge losses when Marc took over and was facing stiff competition from rivals such as Next. Sales increases and profit is reported for the first time in 4 years. New A line collection launched, customers react favourably and thus, sales get a boost. Motivational Theory: Motivation is defined as the process that accounts for the passion, persistence and direction of achieving a goal of an individual. There are four motivational theories. Two of them are compared below: MASLOWS THEORY HERZBERGS THEORY MOTIVATIONAL THEORY It is based on the concept of human needs and satisfaction (Cakmur, 2011). It is based on the use of motivators. It includes five sets of human needs and their satisfaction (Cakmur, 2011). Motivating and hygiene factors are involved (Weidler, 2012) It is simple and descriptive. It is more complex. It is quite popular in developing countries. It is the extension of Maslows theory (Morgan, 2012). It is descriptive in nature It is prescriptive in nature. EXAMPLES OF M S By helping staff reach their goals at work and praise and reward them for doing well. Proper working conditions and responsibilities are provided so that the employees themselves feel motivated to work (Cans Dars, 2013) . Useful of Motivational Theories: It puts human resources into action Level of efficiency of employees are improved Organizational goals are achieved Friendly relationship is built On the other hand, control is needed, over stress, extremely task-oriented leadership may cause harm to the employees. Groups, teams and behaviours Groups and teams Group A group consists of individuals those interact with each other in such a way that the action of one person have an impact on others person. The members of the group identify each other by their similar traits. In an organization, most of the work is done in groups. In a group, the people are feeling desire to contribute within a group and they are capable to coordinate the efforts that have very high level of performance. Group and teams are different from each other based on orientation of task, formal structure as well as due to familiarity among the team members (Shin, 2014). Formal and Informal group In an organization there are two types of groups: Informal group and formal group. In formal group, the group is made of managers, associates as well as subordinates those influence the behaviours of the members in the group. In informal group, it is made of two or more than two individuals those are associates with each other. Group type Behaviour in MS Eg- Formal Management team The management team provides support, give advice, lead, inspire and coach their team to meet with the customers expectations. Eg- Informal Who lunch together They are associated with each other and have a mutual relationship between them. Teamwork The people in the organization perform teamwork when the workers combine the skills of their individuals to achieve the goals. Therefore, the word teamwork originates from the concept of team and it refers to do work in group. Factors that promote teamwork in MS Factors that hider teamwork in MS Diversity Communication Leadership Team building exercises Focusing on goals Compensation Communication Deal with conflict A team is always driven by goals. In order to have effective team, the goals are to be spelled out in advance and it will be understood by the team members. A team will be successful in their work when the team members understand their compensation for their efforts. If the members of the team feel that they are compensated fairly, then it can lead to productivity. Communication between team members as well as management and communication between team members are developing the performance of the team. The managers of MS hold meetings with the team members to update the information. Conflict between the team members tends to throw the members out from the team as it will affect the goals and objectives of their business. Technology and Teams Team dynamics have an impact on the performance of the team. It is the force that operates between the groups in the team. Technology has an impact on the team dynamics, these technologies are Skype, webinars, conference calling, instant messaging etc. Skype: It is a way to see other team members during phone calls and Skype call and this will help the team feel more connected to one another. Webinars: When the team spread out in the same office or same geographic locations then Webinars is a solution to communicate with the team members. Conference calling: Conference calls is effective way to communicate with the team members but sometimes it loses their value as more members are included in the call. Instant messaging: When two colleagues are working on a specific tasks, then they have to build a strong relationships with each other, the way is instant messaging. But sometimes, the interaction between the team members can arise some tension and conflict with each other. The change in technology has an impact within MS. When the team members are located geographically then they are using the technology to communicate with each other within the team (Duranti Carvalho de Almeida, 2012). They are doing conference call but sometimes it losses the value as more than two individuals participate in the call, thus it causes a conflict between them on an issue. It causes tension in the workplace. The key business terminology as well as application in MS is to grow its business to reduce its dependency. Their business is built of innovation, integrity, inspiration etc. Their key features are to secure the profitable growth as well as build their business for the long term. Conclusion It is being concluded that the organizational structure of MS is flat whereas the NISA local have corporate structure. This structure is to be used for decision making and to decrease the bureaucracy. As there are less management levels so communication between the managers and employees become easy. The culture of MS plays an important role to understand their organizational performance. The companys performance depends upon the performance of the employees that how the individuals should communicate with each other. MS follows the consultative style of leadership that includes those managers who usually have more listening power. NISA local follows Democratic or Participative leadership style. The team members play an active role in the decision making process. The factors that promote teamwork in MS are diversity, leadership whereas that hinder in MS is focusing on goals, compensation. Reference List A Baker, K. (2015). Organizational Culture. 1st ed. [ebook] Available at: https://www.au.af.mil/au/awc/awcgate/doe/benchmark/ch11.pdf [Accessed 26 Jun. 2015]. Cakmur, H. (2011). Concept and Evaluation of Job Satisfaction: Developed Job Satisfaction Index.TAF Prev Med Bull, p.1. Cans Dars, L. (2013). An algorithm to identify the most motivated employees.Management Decision, 51(4), pp.813-823. Dalton, D. and Todor, W. (2015). Organizational Structure and Performance. 1st ed. [ebook] Available at: https://www.jstor.org/stable/257804?seq=1#page_scan_tab_contents [Accessed 26 Jun. 2015]. Donohoe, T. (2012). Getting the right job!.Primary Teacher Update, 2012(8), pp.8-10. Dr.S.Saraswathi, D. (2011). Leadership Styles in Organizations an Empirical Study.IJAR, 1(11), pp.73-75. Duranti, C., Carvalho de Almeida, F. (2012). Is More Technology Better for Communication in International Virtual Teams?.International Journal Of E-Collaboration,8(1), 36-52. doi:10.4018/jec.2012010103 Janiijevi, N. (2015). THE MUTUAL IMPACT OF ORGANIZATIONAL CULTURE AND STRUCTURE. 1st ed. [ebook] Available at: https://www.doiserbia.nb.rs/img/doi/0013-3264/2013/0013-32641398035J.pdf [Accessed 26 Jun. 2015]. MacDonald, L. (2015). Impacts of Organizational Behavior in Business. [online] Small Business - Chron.com. Available at: https://smallbusiness.chron.com/impacts-organizational-behavior-business-48407.html [Accessed 26 Jun. 2015]. Mahajan, S. (2011). Study on Leadership Styles and Theories.IJAR, 4(3), pp.281-282. Morgan, J. (2012). The Personal Meaning of Social Values in the Work of Abraham Maslow.IJPR, 6(1), pp.75-93. O'Donnell, O. and Boyle, R. (2015). Understanding and Managing Organisational Culture. 1st ed. [ebook] Available at: https://www.cpmr.gov.ie/Documents/Understanding%20and%20Managing%20Organisational%20Culture.pdf [Accessed 26 Jun. 2015]. Shin, Y. (2014). Positive Group Affect and Team Creativity: Mediation of Team Reflexivity and Promotion Focus.Small Group Research,45(3), 337-364. doi:10.1177/1046496414533618 Trondal, J. (2011). Bureaucratic Structure and Administrative Behaviour: Lessons from International Bureaucracies.West European Politics, 34(4), pp.795-818. Weidler, D. (2012). Motivating responsiveness in the interdependent mind.PsycCRITIQUES, 57(4). Writing, A. (2015). Different Types of Organizational Structure. [online] Small Business - Chron.com. Available at: https://smallbusiness.chron.com/different-types-organizational-structure-723.html [Accessed 26 Jun. 2015].

Information Technology and Economic Performance

2187Advertising We will write a custom essay sample on Information Technology and Economic Performance specifically for you for only $16.05 $11/page Learn More A summary of a critical review on the empirical evidence This study was carried out to explore the relationship between IT and economic performance. Initial surveys showed no connection between IT and economic performance at the three levels: firm, industry and the whole economy (Roach, 1991, p. 86). Following those results, the research led to a productivity paradox that pushed many researchers to carry out further investigation on the relationship between the two aspects. The subsequent research indicated a positive relationship between the Information Technology and economic performance at level of firms and the whole economy (Jorgenson, 2001, p. 23). From an overview, the review of this literature is divided into three parts for easy conceptualization of the whole study. This is at firm, indus try and aggregate economy levels. The three levels are further subdivided into subtopics in order to capture a wider area of the review (Dedrick, Vijay Kraemer, 2003, p. 7). The review also indicated variance on the amount of payoffs resulting from IT investment among several firms. Firms that used their IT productively reported high returns in relation to IT investment. It also indicated that management practices have an impact on the variance of payoffs among several companies. A company that effectively integrated IT with its business strategy, human resource management strategy and relocation of resources experienced high return. Conversely, the research failed to provide a clear relationship between profitability and IT investment partly due to inability to quantify most of unobservable aspects that create value in a firm. The use of IT has substituted the use of labor. This particularly has led to decrease of low skilled labor while demanding high skilled labor in organizatio ns (Dewan, 1997, p. 1666). The review further depicted a positive relationship between economic growth and IT investment for developed countries (Dedrick, Vijay Kraemer, 2003, p. 19). In spite of this achievement, the review calls for more accurate research that would enable to expand on the relationship between IT capital and financial performance.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The managerial implication of IT and economic performance This article has a number of implications on the managerial performance as discussed below. Efficiency of processes and quality of both services and products Information Technology has today increased the efficiency of the processes of production. It has also led to significant reduction of the cost of production following the decrease in the large number of low skilled labor. This has enhanced the capacity of managers in making more profit due to low production costs. The efficiency in production has enabled managers to produce high quality products. These products commonly meet customer’s requirements or otherwise perceived to be of higher value in relation to similar products offered at the market. This gives a firm competitive advantage over other similar firms and thus managers should be on the forefront to embrace the Information Technology (Pohjola, 2001, p. 253). IT with communication and global transactions The introduction of IT has also improved communication between the management, employees, customers, various organizations and other stakeholders. Emails and other electronic ways of sending information have raised the level of coordination among business stakeholders (Litan Rivilin, 2001, p. 315). The existence of e-commerce has enabled managers to do transact business globally. This has further escalated profits for the business and enhanced managerial performance. Database system for storage of organization data The availability of a database system has helped management to keep all data related to business activities. This data will act as a benchmark in predicting future performance as they generate trend. The past data is arranged on a monthly, quarterly, semiannually or annually basis depending on the type of business. This arrangement will help a manager to come up with a performance analysis through utilization of tools such as line graph and other types of measurements. This will give a deep insight of how the business has been performing for the past period. Through this, the manager will be able to project the near future performance of the firm. In this regard, a manager who is keen on driving the firm towards achieving its mission would come up with better strategies to obtain already outlined targets such as profit maximization.Advertising We will write a custom essay sample on Information Technology and Economic Performance specifically for you for only $16.05 $11/page Learn More IT integration in an Organization Structure However, for a firm to ensure it gains from the investment in IT, management should ensure that it effectively and efficiently matches IT with the firm’s business strategy, human resource management strategy and allocation of resources. A match of these aspects reflects good management practice that would enable the business to benefit from IT (Dedrick, Vijay Kraemer, 2003, p. 9). Before investing in IT, organizations are always advised to do reorganization or reengineering of their processes to ensure a match between IT tools and organization’s subcomponents. This not only improves efficiency of production processes but also its effectiveness that goes to an extent of improving quality of products and services as the firm will be utilizing its’ IT capital optimally. References Dedrick, J., Vijay, G. Kraemer, L. (2003). Information Technology and Economic Performance : A Critical Review of the Empirical Evidence, University of California, Irvine, ACM Computing Surveys, 35(1), 1–28. Dewan, S. Min, C.K. (1997). Substitution of information technology for other factors of production: A firm level analysis. Manage. Sci. 43(12), 1660–1675. Jorgenson, D.W. (2001). Information technology and the U.S. economy (Presidential address to the American Economic Association). American Econ. Rev. 91(1), 1–32. Litan, R.E. Rivlin, A.M. ( 2001). Projecting the economic impact of the Internet. Papers and Proceedings of the One Hundred Thirteenth Annual Meeting of the American Economic Association. American Econ. Rev. 91(2), 313–322. Pohjola, M. (2001). Information technology and economic growth: A cross-country analysis. Information Technology and Economic Development. London: Oxford University Press, U.K. 242–256.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Roach, S.S. (1991). Services under siege: The restructuring imperative. Harvard Bus. Rev. 39(2), 82–92. This essay on Information Technology and Economic Performance was written and submitted by user S1lvermane to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.