Microeconomic Issues and Their Impacts and Responses

Summary The retail sector has a major role in the growth of the Australian economy and is the barometer of the economic health of Australia s future growth prospects. When the economy is thriving so does the retail industry within an economy – thus, the level of demand within the retail industry has a significant impact on other industries as the money within the retail industry goes in a circle complementing the growth of the other industries. The performance of the retail industry is a strong indication for the government as to what monetary policies to implement in order to determine the amount of money floating around within the economy. It has been observed before that strong performance from the retail industry is translated into†¦show more content†¦Rising interest rate Interest rate movements affect all businesses in several ways. When interest rates go up, consumers tend to save more money and as a result will have less disposable cash available and tend to tighten their purse strings as mortgage payments increase. Depending on the levels of business debt, rising interest rates also increase retailers’ interest costs, thereby placing further pressure on retailer owners which force them to put up high mark-ups on their products which deter potential consumers. Additionally, rising interest rates increase the criteria for private equity and decrease the amount of cash available for investing. Even though Australia’s interest rate affects all businesses, the current interest rate is considerably below what it was in the early 1990s (16.5 per cent), and businesses were able to survive then. Strong Australian dollar The global financial crisis left the economies of the developed countries in ruins with high unemployment rates and record low interest rates, while the Australian economy was unscathed with a rising interest rates(Refer chart 3 from appendix). This has led to Australia being an attractive investment option thus increasing the demand for the Australian dollar. The strong Australian dollar has provided cost savings for business owners,Show MoreRelatedCorruption At The Firm s Level And The Global Level Essay1190 Words   |  5 Pagesdecades, there were many studies that carefully examined the issue of corruption in the institutional framework as well as its significance in politics and economics. Jakob Svensson (2005) has published a paper in which he defines corruption and compares it to taxation and lobbying. 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Coca Cola being the largest soda manufacturer has plans in place to help combat these issues as well as raise sales revenue in the future. According to the article The Decline of ‘Big Soda’, Coca Cola along with other large soda manufacturers have entered a voluntary agreement that requires each company to reduce the total number of calories

Applied Marketing Research Educational App

Question: Discuss about theApplied Marketing Research for Educational App. Answer: Introduction The present study is a reflection about the marketing research task and personal experience as a member of a marketing research team. This analysis highlights key challenges faced by me in the team activity. Critical analysis is done based on two challenges faced by the team. The effectiveness of the educational app has been scrutinised in the previous research report. The reflection is based on the insight of the researcher about the research report. Educational app is progressively used among the students and universities (Ritchie et al., 2013). Along with this, maintaining a website is a key challenge during present decades. Among the several challenges, four challenges are mentioned. Two serious challenges are discussed in this study. Reflective Analysis While doing the marketing research on the educational app, which are effective for the JCUS students, the research tem faced some challenges. Challenges Description Problem of team co-ordination Different team member was assigned with different tasks. Problem of coordination was created due to physical distances among the team members. Some of the team members were not well prepared for the presentation Difficulties was created at the time of presentation of the project Pressure of multiple submission related to other assignment at the same date Preparation of all the submission with equal quality was not possible Time constraint Several research area was untouched due to time constraint Critical Analysis of Two Identified Problems Among the four problems, intensive problems faced by our team were under prepared team members. Some of the team members had less interest for betterment of the project. One of the reasons was lack of sufficient knowledge about marketing and education app. In the view of Anderson (2012), a project will be successful if a cohesive team executes it, where every team member actively participates in each activity. The project team leader divided the tasks within team members. The team member was responsible to assign tasks according to the skills. However, instead of dividing the tasks according to the skill and knowledge, tasks were assigned randomly. Hence, this phenomenon has reduced the fruitfulness of the project outcome (Taylor, Bogdan DeVault, 2015). Moreover, there was lack of coordination among the team member. The team member failed to guide all the members in necessity. One of the team members was given the task of primary survey. That member has lack of effective communication skills. The data collection team had to prepare themselves. The questionnaire was not pre prepared. Therefore, interview to the JCUS students were not successful at the first round. The team conducted the second time interview with some preparation. Data collection is an important part of the marketing research (Kotler et al., 2015). Market survey tells the researcher about the consumer choice and needs (McDonald, 2016). In order to assess the use and utility of the education among to the students, feedback is required (Hirsh-Pasek et al., 2015). One of the reasons for the limitations of our marketing research is lack of proper preparation for the survey. The project presentation to the lecturer was delayed therefore. The second problem was lack of adequate time to prepare the project. The marketing research activity requires an extensive investigation about market trend. Due to lack of time, we had to complete the tasks within very short time. Hence, the team faced the problem of resource allocation. The team failed to conduct research on a large number of students. The team conducted the survey on 75 JCUS students. This sample size is too short against large number of sample size. As stated by Terpstra, Foley Sarathy (2012), the reliability of the project increases and the sample error is reduced with the increase in sample size. Furthermore, as the project has been completed within a very short span of time, quality of the project was compromised. We felt time constraint, as there was pressure from preparation of other subjects. Therefore, this project was not given sufficient time for preparing report. The problem of lack of coordination among the team member aggravated the problem of tie con straint. Personal Experience It has been a learning experience for me to be part of the project. This project has helped to acquire knowledge about different steps of a research process. Teamwork is another experience, which will help in career building. In order to carry out the market research on effectiveness of educational app, there was lots of opportunity to learn about this app. As a team member, I faced problem regarding coordinating with other team members. The most fruitful experience was to know how a good team works and how collaborative works can make up the weakness of a team member (Brinkmann, 2014). Problem has been faced when other subjects had to prepare along with this project paper. It has been a good opportunity to interview JCUS students. Time management has been learnt during this project. Each of the tasks has stipulated deadline. Technical problem has been faced at the time of data compilation. It has been realised at the time of research work that secondary research could make the research robust and the analysis strong (Bastian Harkness, 2015). However, due to time constraint, the study has been limited to the qualitative analysis. While carrying out the research, there were different views among the team member about the research techniques and results. However, the team leader has managed the conflicts and suggested to follow the guideline. It has been a learning from the research that how to manage time. First criterion before conducting a research is to know the purpose of the research (Rideout, 2014). Data collection is good experience in the fieldwork. If any member of the team can choose career of marketing executive or market manager, this experience will the member to succeed in life. It has been realised that in order to overcome the challenges faced earlier an extensive planning is required. Every team member needs to understand the duty and responsibility clearly. Furthermore, it has been learnt that market research is effective before lunching a new product into the market. Educational app is helpful to the students as well as the teachers. It improves the learning process and communication in the classroom. Conclusion The essay has discussed about the problems faced by a marketing research team. The main discussion highlighted four problems that were faced the team members. This essay analysed personal experience from the problem. The main two problems were under prepared team member for the project presentation and time constraint. This study has explained how those problems were solved and learning from this research process. References Anderson, E. (2012). Organizing the marketing function.Review of Marketing 1981, 134. Bastian, H. Harkness, L., (2015). When Peer Tutors Write about Writing: Literacy Narratives and Self Reflection.Young Scholars in Writing,1, pp.101-124.[retrieved from https://arc.lib.montana.edu/ojs/index.php/Young-Scholars-In-Writing/article/viewFile/79/41] Brinkmann, S. (2014).Interview(pp. 1008-1010). Springer New York. Hirsh-Pasek, K., Zosh, J. M., Golinkoff, R. M., Gray, J. H., Robb, M. B., Kaufman, J. (2015). Putting education in educational apps lessons from the science of learning.Psychological Science in the Public Interest,16(1), 3-34.[retrieved from https://s3.amazonaws.com/academia.edu.documents/45663673/Putting_Education_in_Educational_Apps_Le20160516-853-4i62fa.pdf?AWSAccessKeyId=AKIAJ56TQJRTWSMTNPEAExpires=1475173456Signature=ZLbg2OkUHMzZWwUTWUxvq%2BN1cPw%3Dresponse-content-disposition=inline%3B%20filename%3DPutting_education_in_educational_apps_le.pdf] Kotler, P., Burton, S., Deans, K., Brown, L., Armstrong, G. (2015).Marketing. Pearson Higher Education AU. McDONALD, M. A. L. C. O. L. M. (2016). 5 Strategic marketing planning.The marketing book, 86. Rideout, V. (2014). Learning at home: Families' educational media use in America.Joan Ganz Cooney Center.[retrieved from https://files.eric.ed.gov/fulltext/ED555586.pdf] Ritchie, J., Lewis, J., Nicholls, C. M., Ormston, R. (Eds.). (2013).Qualitative research practice: A guide for social science students and researchers. Sage. Taylor, S. J., Bogdan, R., DeVault, M. (2015).Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons. Terpstra, V., Foley, J., Sarathy, R. (2012).International marketing. Naper Press.

Thomas Edison Essays - Thomas Edison, Edison And Ford Winter Estates

Thomas Edison Thomas Alva Edison was born on February 11, 1847, in Milan, Ohio, the youngest of seven children born to Samuel and Nancy Elliott Edison. He began to lose his hearing after having scarlet fever as a young child. As he grew older his deafness increased until finally he was totally deaf in his left year and had only 10% hearing in his right ear. Edison did not consider this a "handicap" and said that it was rather an advantage as it gave him more time to think because he did not have to listen to foolish "small talk." By 1862 young "Al," as his father called him, was printing, publishing and selling The Weekly Herald on a train of the Grand Trunk Railroad out of Port Huron, Michigan. This was the first newspaper printed on a moving train. Later he learned to be a telegraph operator and worked at that trade throughout the Central Western states as well as Canada, always studying and experimenting to improve the equipment. In 1868 Edison made his first patented invention, the Electrical Vote Recorder. Congress was apparently not interested in purchasing this as it counted votes too quickly. Edison vowed he would never again invent anything unless there was a "commercial demand" for it. at age 23 Edison sold his first invention, a Universal Stock Ticker, to General Lefferts, the head of the Gold and Stock Telegraph Co. Edison had decided that the invention was worth $5,000 but was ready to accept $3,000 when Lefferts said, "How would $40,000 strike you? In later years Edison reported that he had almost fainted, but managed to stammer that the offer seemed fair enough. That money was used to set up Edison's first business. Thomas Edison married Mary Stilwell on Christmas Day, 1871. He was 24 years old and she was 16. They had three children: Marion, born in 1873, Thomas, 1876 and William, 1878. Edison's wife died in 1884 from the after-effects of typhoid fever. Thomas Edison's interests varied widely and he received patents in many areas. For example, in 1876 he patented his electric pen which was later used in mimeograph systems and in 1877 he applied for a patent on a carbon telephone transmitter that led to a commercial telephone and later radio broadcasting. Considered his most original invention, the phonograph was patented in 1878. Edison sketched out this new and different idea he had, handed it to two men who worked in his shop, John Kuresi and Charles Batchelor, and they made the machine. Edison took tin foil, wrapped it around the cylinder and casually said, "This machine is going to talk." He recited "Mary had a little lamb" into the strange device and to everyone's amazement (even Edison's) the machine repeated the words exactly. Edison did not return to his work on the phonograph for another ten years for his mind and efforts were occupied with the development of his most well-known invention, the incandescent light bulb patented in 1879. In 1885 while searching for the perfect material for the light bulb filament Edison discovered Fort Myers, Florida. Following the trail of bamboo up the Caloosahatchee River, Edison and his friend Ezra Gilliland fell in love with the sleepy little village. Together they purchased land far from the bustling center of town, 1-? miles down a cattle trail. Their two homes were built on the riverfront property, mirror images of each other, plus a laboratory so that Edison could have "working vacations." The lumber for the entire project was pre-cut in Maine and shipped to Fort Myers by schooner. The Gillilands were also responsible for introducing Edison to his second wife, Mina Miller. The Edisons were married in 1886 and honeymooned in Fort Myers at the Keystone Hotel while waiting for the home, now named Seminole Lodge, to be completed. Thomas and Mina also had three children: Madeleine, born in 1888, Charles, 1890, and Theodore, 1898. Unfortunately, Edison and Gilliland had a falling out and for 14 years Edison did not come back to his Florida home. By 1906, however, Edison had purchased the Gilliland home, made renovations to both sites and again began spending his winters at Seminole Lodge until his

Free Essays on Author Studies Using Websites

I began the assignment by clicking on Resources for K-12 Teacher’s Literature on the resources for Teachers web page. After browsing through a couple of sights, the Children’s Literature Web Guide seemed to have a few useful links. Here I found Bantam Doubleday Dell Teacher’s Center most helpful. I also browsed through the Children’s Literature Association of Utah web site. It too had many useful links like the Newbery Medal Home Page, Caldecott Medal Home Page, Reading Corner, Book Lists of Children’s Literature, 101 Out of this World books for Kids Ages 8 – 13, Amazon Books, and Powell’s Books. Many of these sights listed the age level and a short synopsis of the book. Looking at the Do’s and Don’ts site found on the first web page, I discovered Jim Trelease’s Book Lists. It had many of the above sites plus more useful information. Finally, the Doucette Index - K-12 Literarture Based Teaching Index was ver y useful in finding out more information about a particular book. I chose the books for my book list in a variety of ways. I started with authors that were familiar to my students and myself, like Beverly Cleary and E. B. White. Some books just caught my interest like It’s All Greek To Me by Jon Scieszka since all my students are of Greek decent. Of course I wanted a few award winning books so my students could see examples of excellent story telling. After reading these books I plan to have the students discuss the reasons they think the book won the award and express their opinions on whether or not the book should have received the award. I also selected books by themes like â€Å"chocolate† or â€Å"adjusting to third grade.† I choose a few books because their setting is one of the countries the third grade studies in social studies. Some books were selected because they are a part of a series. If they liked the first book, hopefully they will want to read more of the series! Since the ch... Free Essays on Author Studies Using Websites Free Essays on Author Studies Using Websites I began the assignment by clicking on Resources for K-12 Teacher’s Literature on the resources for Teachers web page. After browsing through a couple of sights, the Children’s Literature Web Guide seemed to have a few useful links. Here I found Bantam Doubleday Dell Teacher’s Center most helpful. I also browsed through the Children’s Literature Association of Utah web site. It too had many useful links like the Newbery Medal Home Page, Caldecott Medal Home Page, Reading Corner, Book Lists of Children’s Literature, 101 Out of this World books for Kids Ages 8 – 13, Amazon Books, and Powell’s Books. Many of these sights listed the age level and a short synopsis of the book. Looking at the Do’s and Don’ts site found on the first web page, I discovered Jim Trelease’s Book Lists. It had many of the above sites plus more useful information. Finally, the Doucette Index - K-12 Literarture Based Teaching Index was ver y useful in finding out more information about a particular book. I chose the books for my book list in a variety of ways. I started with authors that were familiar to my students and myself, like Beverly Cleary and E. B. White. Some books just caught my interest like It’s All Greek To Me by Jon Scieszka since all my students are of Greek decent. Of course I wanted a few award winning books so my students could see examples of excellent story telling. After reading these books I plan to have the students discuss the reasons they think the book won the award and express their opinions on whether or not the book should have received the award. I also selected books by themes like â€Å"chocolate† or â€Å"adjusting to third grade.† I choose a few books because their setting is one of the countries the third grade studies in social studies. Some books were selected because they are a part of a series. If they liked the first book, hopefully they will want to read more of the series! Since the ch...

Profile of Serial Rapist and Torturer David Parker Ray

Profile of Serial Rapist and Torturer David Parker Ray David Parker Ray, also known as the Toy-Box Killer, was a serial rapist and torturer and suspected serial killer. Police in Arizona and New Mexico suspect that Ray was responsible for the murders of at least 60 people, based on accusations by his accomplices. Ray earned the moniker the Toy-Box Killer because he spent $100,000 sound-proofing and stocking a truck trailer with devices used to torture his victims. He referred to the trailer as the toy box. Early Years Ray was born in Belen, New Mexico, on November 6, 1939. His parents, Cecil and Nettie Ray, were poor and lived with Netties parents on a small ranch where they raised David and his younger sister Peggy. Cecil was an abusive drunk who lashed out at his wife and children. He eventually left Nettie and the children when David was 10 years old. After Cecil divorced Nettie, the decision was made to send David and Peggy to live with their grandparents on their rural ranch in Mountainair, New Mexico. Life for David and Peggy took a dramatic turn. Their grandfather, Ethan Ray, was nearing 70 years old and lived with strict standards which he expected the grandchildren to follow. Failure to follow his rules would often result in the children being physically disciplined. At school David, who was tall, shy and awkward, had a hard time fitting in and was often bullied by his classmates. Much of his spare time was spent alone drinking and using drugs. It was during this time that David Ray began to develop his secret fascination of sadomasochism. David Rays sister discovered his collection of erotic photographs of acts of bondage and sadomasochistic drawings. After high school, he worked as an auto mechanic before joining the Army, where he again worked as a mechanic. He received an honorable discharge from the Army. Years later, he told his fiancà © that his first victim was a woman he tied to a tree and tortured and murdered when he had just become a teenager. Whether this was true or materialized out of his constant fantasies of bondage and torture is unknown. The Escape On March 22, 1999, in Elephant Butte, New Mexico, 22-year-old Cynthia Vigil, covered in blood, naked and with a metal choker collar padlocked around her neck, was running for her life. She had no idea where she was and desperate to find help before her captors caught up with her, she spotted a mobile home with the front door opened. Cynthia ran inside, pleading for help from the shocked homeowner. The police arrived shortly afterward and listened as Cynthia told her terrifying story of kidnap and torture. Held as a Sex Slave She told them that a man and a woman had kidnapped her and held her as a sex slave for three days. There she was raped and tortured with whips, medical instruments, electric shock, and other sexual instruments until she managed to escape. The bruises, burns and puncture wounds that covered her body backed up her story. According to Cynthia, she met her captors in  Albuquerque  while working as a prostitute. The man had offered her $20 in exchange for oral sex and they went to his RV. Inside there was a woman who helped the man tie and gag her, along with placing a metal collar around her neck. They drove for over an hour before stopping and dragged Cynthia inside a trailer where she was chained to a bedpost. She then listened to an audiotape describing what would be happening to her while she was there. On the tape, a man she assumed was David Ray, explained that she was now a sex slave and she was to refer to him only as master and the woman with him as mistress and never to speak unless spoken to first. She would be naked and chained up, fed, and cared for like a dog. She would be tortured, raped, perform for friends while having sex with animals, subjected to anal penetration with large dildos and placed in various positions which exposed the private areas of her body. She was also warned that she was one of many slaves that had been held captive and many of those who did not cooperate, died. Fighting For Her Life A FBI team investigates the toy box trailer. Joe Raedle / Getty Images By the third day of her captivity, Cynthia had been exposed to electric shocks, endured being cattle prodded, whipped, and had medical instruments and large dildos inserted into her vagina and rectum. She was hung up and raped repeatedly by David Ray. Cynthia was certain that soon she was going to be killed. She managed to escape after Ray left the trailer and she got a hold of the keys and unlocked herself from the chain. She tried to call 9-1-1 but was interrupted by her female captor. The two fought and Cynthia managed to grab an ice pick and stab the woman in the neck. She then ran from the house and kept running until she found the mobile home. Cynthia provided the police with the location of the trailer, but they were already at the home after the 9-1-1 call abruptly ended. Inside The Toy Box David Parker Ray and his girlfriend, Cindy Lea Hendy were apprehended. During questioning the two stuck to the same story - that Cynthia was a heroin addict and they were trying to help her detoxify. A search of Rays property told another story. Inside Rays mobile home the police found evidence that backed up Cynthias story, including the audiotape. Inside another trailer that sat next to the mobile home was what detectives assumed was the Toy Box as Ray called it. Inside were various instruments of torture, drawn pictures of how Ray would torture his victims and various restraints, pulleys, whips, and sexual devices. However, the most shocking piece of evidence was a videotape of a woman being tortured by the couple. Ray and Hendy were arrested and charged with multiple counts including kidnapping. As the investigation continued, additional evidence revealed that there had been many more victims and more than just Ray and Hendy involved in the crimes. Investigators also suspected that along with Ray being a serial rapist, he was also likely a serial killer. Angelica Montano The problem that the authorities faced was Cynthias credibility. She was an admitted prostitute and there was no way to prove that she was not there willingly. But then, after the newspapers ran the story about the couples arrest, another victim came forward. Angelica Montano told police that she had also been kidnapped, raped and tortured by Ray and Hendy for three days, then drugged and left by a highway out in the desert. She was found by the police, but for unknown reasons, her complaint against the couple was never followed up. She decided to pursue it again after she saw that the two had been arrested. Kelly Garrett Investigators also found the woman that was on the videotape after they identified a tattoo on her ankle. Kelly Garrett, who was found in Colorado, had been married just a few days before she was held captive by Ray and his daughter, Jesse Ray. Jesse Ray, who was friends with Garrett, took her to a bar and drugged the beer that she was drinking. As Garrett struggled to leave the bar, Ray hit her on the head from behind. She was subjected to torture and rape for three days, then drugged and left on the side of the road near her in-laws home. Garretts in-laws assumed she had been on a drug binge, and she was still too confused to recall exactly what had happened. As a result, she was asked to leave and she returned to Colorado. As time went on she remembered more about her ordeal, but she still suffered from amnesia. Cindy Hendy: A Quick Turnaround Once in custody, Cindy Hendy was quick to turn on Ray in a plea deal that included a reduced sentence. She told investigators that Ray told her about 14 murders that he had committed and where some of the bodies had been dumped. She also told of some of the different ways Ray would torture his victims which included using a mirror which was mounted in the ceiling, above the gynecologist-type  table  he used to strap his victims to so that they would have to watch was being done to them. Ray would also put his victims in wooden contraptions that bent them over and immobilized them while he had his dogs rape them and sometimes other friends.   She also gave the names of other accomplices, which included Rays daughter, Glenda Jesse Ray and Dennis Roy Yancy. According to Hendy, Jesse and Dennis had participated in the murder of Dennis ex-girlfriend, 22-year-old Marie Parker. Dennis Roy Yancy: The Fear Factor Yancy was brought in for questioning and eventually admitted to being present when Ray and his daughter Jesse kidnapped Parker and took her to the Toy Box. After three days of torture, Ray and Jesse told Yancy to kill her, which he did by strangling her with a rope. Yancy said Ray threatened to kill him if he ever told anyone about it. Glenda Jean Jesse Ray: Complete Denial Jesse Ray denied having anything to do with her father, the abductions, or with the murder of Marie Parker. Sentencing Joe Raedle / Getty Images Cindy Hendy was sentenced to 36 years as agreed to in the plea bargain. She also testified against Ray during his trials. Dennis Roy Yancy received two 15-year sentences for second-degree murder and conspiracy to commit first-degree murder. He was released after serving 11 years, but returned to custody until 2021, after violating his parole. Jesse Ray was found guilty of kidnapping women for sexual torture and was sentenced to nine years in prison, six of which could be served out of prison and on parole. It was decided that David Parker Ray would be tried separately for each victim - Cynthia Vigil, Angelica Montano, and Kelly Garrett. He later agreed to a plea deal and he was sentenced to 224 years. Death On May 28, 2002, Ray died of a heart attack while on his way to an interrogation by state police at Lea County Correctional Facility.

How to Define Poverty Literature review Example | Topics and Well Written Essays - 3250 words

How to Define Poverty - Literature review Example Consequently, and as Keen (1992) contends, given that development, theory embraces poverty alleviation strategies, one may assume that development policies and programmes are inherently focused upon poverty reduction/elimination. While the above assertion is valid and development policies, as does development theory, embrace poverty alleviation strategies, the fact remains that they are, more often than not, characterized by failure. The failure of development policies to successfully eradicate, or reduce poverty, is an immediate outcome of inaccurate definitions of poverty, a vague understanding of its causal factors, and a tendency to adopt prescribed development policies, as opposed to ones which have been specifically designed to address the type, cause and consequence of poverty in a specific society/nation. Through an analysis of the meaning of poverty, it variant causes and consequences, and the extent to which type and cause need inform poverty alleviation and development strategies if they are to successfully accomplish the objectives of development and poverty alleviation, the stated hypothesis will be investigated. Poverty is popularly understood as e... Until recently, the World Bank interpreted poverty in a similar manner, defining it as the "deprivation of income" (Mosley and Booth, 2003, p. 5). Realizing, however, that this definition was erroneous insofar as it imposed unjustifiable limitations on the theoretical conceptualizations of the referenced phenomenon, leading to the evolution of limited and delimiting development and poverty eradication policies, the World Bank undertook the revision of the mentioned definition. Rather than define poverty in economic terms alone, the World Bank adopted a more expansive definition of poverty as the "pronounced deprivation of well-being" (Mosley and Booth, 2003, p. 5). This definition does overcome some f the conceptual constraints imposed upon the phenomenon by the earlier definition but, as Sen (1976; 1984; 1985; 1999) has repeatedly argued, poverty is a fluid concept, most accurately defined in terms of its causal factors. Certainly, it is deprivation but it is countless forms of depr ivation, be it social, economic, political or geographic. It is not incorrect to define it as "deprivation," but it is hardly correct to leave it at that. In other words, and as Sen (1984; 1985) maintains, poverty is the absence of choice, be it on the political, economic or social levels. Â  

Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words - 3

Strategic Human Resource Management - Essay Example According to the paper  performance related pay system is considered as financial incentives offered to the employees, presenting high-level of performance and efficiency in competing the assigned tasks and duties. As a result of presentation of these rewards, the level of motivation and inner skills of the employees enhances to a significant extent that increases its effectiveness. Therefore, due to the presentation of high-ended performance, the productivity and corporate image of the organization increases in the market as compared to many other rival players. Along with this, the supremacy and ranking of the organization increases in the market thereby reducing the threat of new entrants or substitute products. This is extremely essential for an organization to retain its portfolio in this competitive market for a long period of time.From this discussion it is clear that  performance related pay systems or rewards are a sort of incentives offered by the management to its empl oyees in order to retain them for longer period of time. By doing so, the level of productivity and profitability of the organization might get enhanced resulting in amplification of its dominance in the market among others. It may be of two types such as monetary and non-monetary incentives.  Monetary incentives are of varied types such as bonuses, incentives, pension schemes, profit sharing, team awards, ownership, gain-sharing, salary supplements, improvement of job stabilities etc.