How can financial crisis defined - Free Essay Example

Sample details Pages: 5 Words: 1383 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Financial crisis can be defined as a considerable decrease in economic activity extended across the economy, which lasts for a significant amount of time, visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales, we have already seen such a situation at the time of great depression earlier and now since 2007, What was different in the two crisis was the later one was the first one since globalisation, What that meant was that the crisis was no longer restricted to a particular country or region and if a giant economy is hit, the impact of that is felt throughout the world.. It was a notion that this it was the subprime mortgage crisis which caused the Global financial catastrophe; whereas in fact that was one very small part of the string which led to the meltdown of already hollow economy. The actual root cause goes way deep under. In my opinion and many who share the feeling, the real reason of the Global financial crisis was the Global macroeconomic imbalance. Now when its clearly evident that focus of economy has shifted from Industrial, which is primarily transformation from manufacturing to post-Industrialism, which consisted of service industries and ‘off shoring in the east. The fact that over 90 percent of the people employed in USA are working in service industry and the number is ever increasing clearly signifies that. This resulted in shutting down of large manufacturing firms. As a consequence, now manufacturing corporations were no longer the â€Å"central pillars† of American social culture. The shift of economy also forced the shift in the type of employment, from a long-term in manufacturing industries to short-term in service industry and thus the need for more flexible pension system arose, which could transfer the risk from the employers to the employees. According to this scheme, the terminating employee can now decide on his ow n, as how to and where to invest the monetary value of his pension benefits, after being transferred to a succeeding pension plan also known as â€Å"portable pensions†. This signifies the companys pension scheme was now shifted from â€Å"Defined-Benefits† to â€Å"Defied-contributions†. As the mutual funds provided by the financial institutions seemed to be the most profitable investing venture, this became the first choice for every employee to sow in their hard earned money. There was a drastic increase in the mutual fund market and by the year 2001 almost 52% of the households in the US owned mutual fund stocks. The owner of these financial institutions, which were mainly investment banks, owned about 40% of the US industrial assets, which fundamentally made them key owners of commercial America. At the same time these were the same financial organizations which provided pension fund facility to a large group of corporate employers. The financial orga nizations were now concentrating on the ways they could increase the shareholders value as it was sought to be the most relevant measure of the corporate performance. The corporations made it pretty obvious that their main intend was only to create value for their shareholders. Evidently the corporations changed their mission statements which reflected their intentions. In the drive of increasing shareholders value another technique of diversification was brought into being. The companies started diversification in their product lines and services to the extent they could afford, which led to larger unmanaged or outsourced corporations. Consequently the ties between the worker and the employer weakened. The decision was then taken by the FED chairman, Alan Greenspan that the assets like loans on the balance sheet, patents and credit card receivables could now be turned into securities and can be traded on markets. The financial market grew widely after this. The largest banks of Ame rica became the portals to the financial markets, corresponding to the corporate houses of the country. JP Morgan, Bank of America and Citigroup became so huge, that now they owned and managed a hefty share of the assets and deposits of the business. These banks then pounded over small local commercial banks as they were an easy prey for their acquisition. They acquired a large number of US commercial banks along with some major banks in major cities of the country. The federal activities inventory reform act of 1998 was planned and framed to encourage outsourcing in the various government departments. The aim was to amplify the effectiveness of the unit by the help of the private sector. The per annum spending on the contractors doubled by $200 billion during the presidency of Bush. The main job of the private sector in the federal government was to protect the diplomats in a foreign country and running the various government databases. The remaining manufacturing companies i n the US were mainly military contractors, yielding 85% to 90% of their revenue from the government. The businesses of hedge funds, merchant shipping, intellectual property rights were distributed in countries like Bermuda, Cayman Islands in UK, Liberia, other territories of UK and many more. The household which were now both the issuers and investors through mutual fund market were entirely dependent on the financial markets for their growth and security, resultantly the crisis damaged in a much more worst manner than it could have done in normal circumstances. Then the 1991 crisis occurred because in the 1980s economic growth was very rapid and unsustainable therefore inflation increased to over 10%. To reduce this inflation the government increased interest which resulted in lowering of spending, this increase in the rates resulted in the increased the cost of mortgage interest payments. So many people were forced to sell and thus causing a fall in house prices and lower sp ending and there was a big fall in AD. Current crisis basically revolves around the mismanagement of the finances and had the following key points, There was a shortage of finance (following the collapse of northen rock) which uncovered a vicious circle between investment sector and the â€Å"real† economy causing a cost push inflation squeezing incomes and reducing disposable income but most important was the Collapse in confidence of finance sector causing lower confidence amongst real economy The defences that UK can apply for any upcoming recessions can be learned from previous learnings of the recessions. even though there are adverse effects of the falling of the pound sterling, it also brings many positivity along with it. The decline of the UK currency will lead to quick decline in both relative unit labour costs and relative export prices. Consequently which will lead to increase in the net trade although there is a point here, the UK exporters must not raise t heir prices to save some profit margin in this scenario. The ratio of the household debt servicing is also in favour of the UK economy. Even if the debts levels rise, the interest rates should be maintained low. It is vital to fortify the strength and flexibility of the financial system. The government should take steps to decrease the probability of individual commercial and nationalised banks facing complications and even if they do manage to get themselves into trouble there should be immediate actions taken into consideration. There should be arrangements for instant reimbursements in which the consumer market can believe and have faith. Toughen the central bank of the country i.e. Bank of England and guarantee effective and well coordinated actions by the authorities. UKs economy has the capability of handling and surviving through another recession. The financial position of the company is strong and sustained as per the past standards. There is hardly any sign of a wage and price spiral forcing tighter policy. There is a huge room for rate cuts, which is caused by the continuing oil and commodity prices and the membership of the ERM ensures that there is barely any possibility for interest rate cuts final moment around. As correctly said by Stephen Roach, Morgan Stanley â€Å"The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy† which we have clearly seen before in 2000(equity bubble) and then in 2007(credit bubble) We can clearly infer from this that though the reforms are needed in many sectors our primary focus should be on the investment and financial sector as money is linked to everything. Don’t waste time! 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Education Of The Muslim Religion - 1547 Words

Education of the Muslim religion and the female gender should be enforced by the government to increase tolerance and understanding of Muslim women who are harassed and discriminated against due to their religious beliefs and their gender. While gender equality has greatly evolved with the turn of the century, there are still women worldwide, especially women of color, who are being mistreated solely because of their gender. Ever since the crisis of 9/11, Muslim people have been judged and harassed; they are being seen as nothing but a stereotype to many people, and this blind hatred must end. Through education, respect and tolerance for Muslim women can be achieved with hard work, an open mind, and initiative. Discrimination against Muslim women has increased in mainly caucasian societies since the terrorist attack of 9/11. However, discrimination toward Muslim women has long been present. More than â€Å"160 Muslim-Americans† have been accused of being violent, and/or being terrorists within the last decade previous to 9/11 (Islamphobia). These islamophobes tend to forget that since 9/11, many Muslims have aided America with security and law enforcement in order to prevent another terrorist attack. Many Muslims admit to feeling unappreciated and disrespected by those in the West. In addition, 52% of Americans and 48% of Canadians even believe that the West doesn’t respect Muslim societies. (Islamophobia) Tahera Ahmed, who recently was discriminated against by being denied aShow MoreRelatedSaudi Arabia s Education System881 Words   |  4 PagesSaudi Arabia’s education system has drastically changed. When the Kingdom was established in 1932, education was available t o very few people, mostly the children of wealthy families living in the major cities. 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The media has played a colossal role in developing such negative association wherein it constantly portrays Muslim people in combination with violent terrorist acts. It does so in a way that they both go hand-and-hand. In other words, it has made it as though the Islamic religion is synonymous with terrorism. The media has perpetuated Muslim stereotypes over the years that followed

Art Essay Free Essays

Why should we make art? What is the purpose? How does it affect our culture , generation and or world? Art is an expression of oneself that is shared between people due to many did efferent personal reasons that contribute to the happiness and satisfaction felt from c aerating, viewing and pondering art. Some of these personal reasons that people have to justify the creation of art is the pleasure it provides, the creativity it gives you, the feeling of freedom, and the lifelong challenge or self growth. Art effects are culture because it helps defines era’s through t he way what kind of art was created and how the art was created. We will write a custom essay sample on Art Essay or any similar topic only for you Order Now Art provides great pleasure for those who create art because of its relaxing an true. It gives you time to yourself and time away from stressful jobs, classes and relations pips that all require a substantial amount of energy from you. It simply gives you time to be alone a ND in solitude from the world. It allows you to think deeper than just the superficial expression of he art and allows you to solve problems in other areas of your life through the simple relaxing nature of creating and viewing art. Art can give you an excess of creativity to use in other aspects of life. As you c intention to view and ponder art, you keep pushing yourself to see the art in different ways. How to cite Art Essay, Essays

The Differences Between Italy And Canada Essay free essay sample

, Research Paper The Differences between Canada and Italy Comparing Canada to Italy show s the many differences between the two states. The population, the physical size of the states, the age, clime, and the people in each state are merely some of the facets that show the differences between the two states. Even though Canada is much larger so Italy in country size, Italy has about double as many people so Canada. In fact, Italy is one of the most to a great extent populated states in the universe. Italy s population is about 57 million people, while Canada has over 30 million people. The ground that Italy has a greater population so Canada is because Italy was founded 1000s of old ages ago. Canada was merely founded a twosome hundred old ages ago. If you travel to some parts of Italy, you will detect that most of the edifices and constructions are really old and ancient compared to Canada. We will write a custom essay sample on The Differences Between Italy And Canada Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Canada is more modernised with large skyscrapers and tall edifices making the sky. For illustration, Canada s chief edifice attractive force would hold to be the C.N tower. As in Italy the chief edifice attractive force is the Tower of Pisa, which is much older so any edifices in Canada. The official linguistic communication spoken in Italy is Italian. Although many other linguistic communications like French and German are spoken. In Canada, the official linguistic communication spoken is English and the 2nd linguistic communication spoken is Gallic. One difference between these states is Canada is a multicultural state, which allows you to maintain your original heritage and civilization. In Italy, you are considered an Italian and you are known as an Italian citizen. Canada does non hold an official faith like Italy does. Italy s official faith is Roman Catholic, as in Canada, faith alterations between each civilization. Italy and Canada s climes differentiate rather a spot. Italy has a typical Mediterranean clime with mild showery winters and hot dry summers. In Eastern Canada, the clime is non rather so favourable, the clime being cold and terrible in the winter, the springs being late and the summers instead abruptly. The clime is a spot milder in the Western terminal of Canada. Sing Canada gets cold winters, this could explicate why Canada is one of the best states in the universe when it comes to the athletics of hockey. Canada even has it s ain hockey conference called the CHL. The Canadian Hockey League is the universe # 8217 ; s largest hockey conference. The CHL consists of 3 conferences ; the Quebec Major Junior Hockey League, the Ontario Hockey League and the Western Hockey League. There are 54 squads in the CHL. In Italy, the most popular athletics is soccer. Italy is ranked as one of the greatest squads in the universe when it comes to soccer. Italy has it s ain association football conference which consists of 45 squads. When it comes to soccer, Italy is known to hold one of the greatest conferences in the universe. Canada is really different so many states in the universe because it is considered a multicultural state. This gives Canada an independent position around the universe. As you can see, there are many differences that can be made between Canada and Italy, particularly the clime, the geographics and the people of these two states.

How does CSR affect competitive advantage Essay Example

How does CSR affect competitive advantage Essay Introduction For many decades, corporate social responsibility (CARS) has been viewed as a waste of resources money, labor, time, etc. which conflicts with the firms responsibility to make profits in order to compensate its shareholders (Friedman, 1970; Henderson, 2001 ; Jensen, 2002; Levity, 1 958; Summary Ninepin, 2004). On the contrary, especially during the last years, many supporters of CARS came up with the argument that CARS provides a company with a series of specific benefits that very often will outweigh the expenditures. Some are even of the opinion that CARS is necessary for equines, both from an economic and a social point of view (Brown Fraser, 2006; Trucker, 1984; Kettle Lee, 2005; Meltzer, 1983; Porter Kramer, 2006). Screech (201 1 ) concludes by writing that the following two related conflicts could be solved by proving that CARS and profit-maximizing interests can go hand in hand: On the one hand, the argument that CARS is Just a waste of resources would be invalidated and on the other hand, CARS expenses could be Justified to the shareholders as compatible with the firms obligations and, thus, legitimate and economically beneficial. Although great amount of literature is being published about the connection of CARS and the financial performance of firms, it still lacks empirical support and is therefore vulnerable to the criticism that this relation is not a grounded fact, but rather wishful thinking by Its proponents (Rollover, Schmidt Runes, 2003; Screech, 2011). Therefore, this article aims at throwing light on the link between CARS and firm performance by assessing how CARS might influence a firms competitive advantage. Specifically, as many companies realize how important it is to attract highly skilled employees as a main component of their competitive advantage (Prefer, 1994; Tech, 1998; Turban Greening, 1997), the focus will be on the link between CARS and human resources. This article will start with a review of previous studies and research in this area, followed by an in depth analysis of relevant and underlying theories that describe how CARS affects competitive advantage via a firms human resources. We will write a custom essay sample on How does CSR affect competitive advantage specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on How does CSR affect competitive advantage specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on How does CSR affect competitive advantage specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Ultimately, this article will give Implications for Important future research and the mall findings will be concluded. Previous Research and Studies Although CARS has emerged as an Inescapable priority for business leaders in every entry (Porter Kramer. 2006), there Is no general agreement about whether CARS does contribute to the financial performance of firms or not. A lot of research has been conducted in order to prove the positive relationship between corporate financial performance (COP) and corporate social performance (SSP). Wood (1991 : 693) defines SSP as a business organizations configuration of principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firms societal relationships. However, the exults of these studies have been inconclusive at best (Donaldson, 1999; Jones Wicks, 1999; McMillan Siegel, 2001; Roman, Hybrid Eagle, 1999). Other studies tried to find conceptual explanations for the lack or the existence of a relationship between SSP and COP, but could not provide answers (McMillan Siegel, 2001 ; society and business need each other now more than ever before. Companies depend on a healthy society, including health care, education, and equal opportunity, but also good government and property rights. These requirements are essential for productive workforce and will furthermore create an expanding demand for business. Simultaneously, this healthy society is also in the need of successful firms. Apart from creating Jobs and wealth, they are the main innovators that improve the standards and quality of living (Porter Kramer, 2006). Hence, it should be in the interest of every firm to conduct CARS, regardless of the possible relationship between SSP and COP. Firms behaving in a socially responsible manner benefit through the subsequent reputation, another topic with a huge body of literature. The reputation f a firm that is built on its social consciousness will not Just temper criticism by the public in case of a crisis (Porter Kramer, 2006), but will also help building a positive relationship to stakeholders, such as investors, suppliers, bankers, and customers (Bombers Channel, 1990). Again, from a financial perspective, reputation plays an extremely important role. Not only will it facilitate access to capital through the emanating positive relationship to investors, but with respect to SSP, reputation also has a higher correlation with COP than any other variable even corporate environmental performance (Brown Perry, 1994; Rollicks et al. , 2003). The return from reputation is, thus, the key to reaping benefits from SSP (Roberts Dowling, 2002). One way of reaping benefits from corporate reputation is by attracting a high quality workforce (Greening Turban, 2000; Turban Greening, 1997). However, the attraction of good employees is not the only channel through which good reputation through CARS affects a firms human resources, possibly leading to a competitive advantage. Research suggests that it also increases the goodwill of current employees towards their employer, which in turn can improve the companys financial outcomes (Davis, 1973; McGuire, Sundered Schneider, 1988; Haddock Graves, 1997). Furthermore, firms can turn instruments such as sponsoring of sports or cultural events into a competitive advantage by improving the morale of their employees and boosting productivity (Porter Kramer, 2002). Supplementary, it has been proved that scandals in regards to CARS will negatively influence employee morale and, thus, the firms performance (Screech, 2011). During the last decades, undress and thousands of articles about CARS have been published, many of them with a strong focus on financial aspects such as the relationship of SSP and COP. Surprisingly few dealt with the influence of CARS on human resources. Greening Turban (2000: 276) analyzed and confirmed that Job applicants will attempt to interview with firms, and will have a higher probability of accepting a Job offer from firms with positive SSP reputation. However, their study is based on a survey of only 39 students and did not focus on what exactly attracts employees and how these causes can be used to create a competitive advantage. Furthermore, a lot has changed during the last years, not only the importance of but also the ways companies pursue CARS. Therefore, these will be the main aspects in the remainder of this article. Theory and Implications for Future Research This section will introduce the most important theories that are relevant for an analysis of the relationship between CARS and competitive advantage. As this article section will start with an explanation of the importance of a quality workforce. Afterwards, theories will be presented which focus on how CARS can influence prospective (via firms attractiveness) or current employees. Quality Employees as a Source of Competitive Advantage There is a reason why statements like our employees are our strength can be found on the homepages and on promoting materials of many companies nowadays. The attraction of superior human resources and retaining them in the firm can provide firms with a sustained competitive advantage (Load Wilson, 1994; Prefer, 1994; Wright, Ferris, Hillier Karol, 1995). Additionally, especially in fields with labor shortage, such as IT or engineering, the attraction of quality applicants is becoming more and more important for the success of companies Jackson Schuler, 1990; Freeman Gowning, 1990). Those organizations that are able to attract the greater applicant pool of top-quality applicants can better utilize their selection system which results in a potential competitive advantage (Load Wilson, 1994; Turban Greening, 1997). As research suggests that employee attraction to a large extent is based on perceptions of the corporate image, which in turn is influenced by the firms SSP (Bombers Channel, 1990), the explanation is given of why many firms promote e. G. Their environmental or philanthropic programs in brochures for prospective applicants (Poe Courier, 1995). They want to demonstrate how socially responsible they act. That this can be successful is confirmed by the finding of Bauer and Amman- Smith (1996) that firms with a stance towards the natural environment are seen as more attractive firms than those without such a stance. The reason why companies should focus more on their employees is that researchers agree that a quality workforce has become more important than other sources of competitive advantage (Greening Turban, 2000). Previously, the success of firms was often attributed to their access to financial markets, product and process technology, patents, the placement of learning curves and economies of scale, etc. However, scholars have noted that the importance of those sources of success has decreased over time, while the selection and management of high quality employees has become a critical factor to success (Prefer, 1994; Snell, Wounds Wright, 1996). Knowledge-Based Theory Similarly, another body of literature suggests that a firms ability to create, manage and transfer knowledge is the key to its success (Feline Westerly, 2007; Grant, 1996), which also points out the importance of a quality workforce as one key to a nominative advantage. Authors suggest that intelligence, motivation, vision, experience, creativity, analytical abilities and commitment are some of the characteristics of quality employees (Tech, 1998). A firms success in the future depends largely on how well it can capture value from those knowledge assets (Tech, 1998). Hence, in order to succeed, a firm must take advantage of its workforce and be able to manage its knowledge. Although high quality employees can be viewed as a necessary condition for success in a modern knowledge economy, it is not a sufficient one (Greening Turban, 2000). The firm has to be able to develop the knowledge and talent into skills and competencies which are valuable, rare, inimitable by competitors, and unsustainable in order to develop a competitive The role of human resources in developing a firms competitive advantage is consistent with the resource-based theory of the firm. This theory suggests that every organization is simply a collection of unique capabilities and resources providing the foundation for the strategy of the organization and being the primary source of its competitive advantage and profitability (Barney, 1991/ 2011; Grant, 1991; Meyer, 1991). It assumes that firms acquire and develop these unique resources and capabilities over time and emphasizes that resources may not be mobile across companies, or easily imitable by other companies (Grant, 1991). As mentioned above, apart from physical resources, also human resources, such as talented managers or high quality employees, are highly important resources for firms (Barney, 1991; Meyer, 1991) and in a global economy, the skills of an organizations workforce are increasingly critical to the development of sustained competitive advantages (Throw, 1992). Additionally, SSP can be viewed as an organizational resource. Investments in SSP may assist firms in developing new capabilities, resources and competencies that are manifested in a firms structure, culture, technology and human resources (Barney, 1991; Russo Bouts, 1997; Heartfelt, 1984). For instance, SSP can help management to develop better processes, scanning skills, or information systems which will better prepare an organization for turbulences, external changes, or crises (Russo Bouts, 1997). The channels through which a companies SSP can affect these resources, especially the human resources, will be subject of discussion later in this article. Signaling Theory Another theory that may be relevant for understanding how a firms SSP may influence human resources, especially the attraction of quality employees, is the signaling theory. There exists a classical information asymmetry between the applicants and the employer. The applicant does not really know how working conditions, corporate culture, etc. Look like in the companies he or she is applying for. Signaling theory suggests that, due to the incomplete information about the company, applicants interpret all the information they receive as signals about e. G. The working conditions in the organization (Greening Turban, 2000). Organizational attributes, for example, provide prospective employees with information about how it would be like to be part of this organization. For instance, a firms formal social programs or policies towards stakeholders or developing political and social issues may attract applicants by serving as signals of the firms goals and commitment. Likewise, the policy to provide day care facilities or to manage diversity has an influence on organizational attractiveness as an employer, because it signals willingness to attract women and minorities and to treat them in a fair manner Greening Turban, 2000; Williams Bauer, 1994). Potential employees might interpret a companys SSP as a signal about its organizational values and norms. These values and norms affect the applicants perceptions of the working conditions and therefore also the companys attractiveness as an employer. Additionally, according to the person-organization fit theory (Kristin, 1996), it is expected that the prospective Job applicants specific values will influence the extent to which a firms SSP influences that attraction (Greening Turban, 2000: 259). Social Identity Theory influences human resources as well. This theory emphasizes that people classify themselves into specific social categories on the basis of different factors, as for example the organization they work for, and that the fact of being a member in those social categories influences peoples individual self-concept (Dutton, Dickered Hairball, 1994; Turban Greening, 1997). Hence, the self-image of employees is influenced by the reputation and the image of the employer. As mentioned earlier, a firms reputation is affected to a large extent by its corporate social performance. Consequently, social identity theory suggests that employees working for a firm with strong SSP will experience positive outcomes, such as an enhanced self-concept, just by being employed in this socially responsible firm (Greening Turban, 2000). Furthermore, as potential employees might expect to experience this enhanced self- concept, the attractiveness of firms that put a strong focus on acting socially responsible is positively affected as well. Definition of Research Gaps After having presented theories that suggest that the right employees can lead to a sustained competitive advantage and that there is relationship between CARS activities of an organization and its human resources, this article will now focus on issues where more research is needed in order to fully understand these relationships. Generally, there exists an almost inexhaustible amount of literature that analyzes the relationship of a firms SSP and its COP. A far smaller body of literature focuses on the link between SSP and human resources. Most of these articles build up theories and make suggestions, but not that much empirical research has been conducted yet to actually prove these theories or to contradict them. Research suggests that potential applicants are very aware of a companys SSP and that companies with a good CARS rating have a competitive advantage, because hey attract a larger amount of applicants and applicants that are of high quality. However, these studies by Greening and Turban (2000) and Turban and Greening (1997) are based on a survey of 39 students or even Just 34, respectively. Also, it can be assumed that those students were aware of the purpose of the study and, thus, were biased in regards to their answers. A study on a large scale needs to be conducted in order to get valuable results. Additionally, it needs to be conducted in different geographical regions of the world, as CARS plays completely different roles in the various societies. While it, for instance, is of great importance in most Western European or the Nordic countries, this is not necessarily the case in many South American or Asian countries. Furthermore, the ways how organizations pursue CARS has changed or at least become broader during the last years. Partnerships of business firms with non-governmental organizations (Nags) had been unthinkable a few decades ago, but have become an important issue nowadays. Many firms grant their employees a certain amount of days off, so that they can engage in Nags they support. Microsoft, for example, allows its employees to take three days off for this repose every year (Thomson, 2012). How do those CARS activities affect the attractiveness of firms? Which CARS activities affect a firms attractiveness the most? Since scholars argue that a quality workforce is becoming an increasingly important source for competitive advantage, these questions need to be addressed by future research. However, CARS does not Just affect a firms human resources via the employers SSP as well. In the framework of Mitchell, Eagle and Wood (1997), employees are seen as a crucial component to success and as a scarce resource. Therefore, they have power, legitimacy and some urgency, and are thus salient takeovers of the firm. It is a logical consequence that they are affected as well, when a firm aims at multiple stakeholders by pursuing CARS. According to Screech (201 1), the idea is that employees will be much more satisfied, if they feel that the beneficiaries of SSP are they, rather than some other external recipients of charitable contributions. Employee satisfaction, in turn, will help retain the employees and reduce turnover (Labeling Freeman, 2000), or positively influence the organizations operational efficiency (Branch Rodriguez, 2006), which can be the source of a competitive advantage. Future research might analyze how and which SSP strategies affect employee satisfaction or investigate if there are moderators that influence this relationship. Conclusion This article suggests that CARS and a firms human resources are interlinked with each other in many different ways. The analysis indicates that a quality workforce is becoming a crucial factor for gaining a competitive advantage and that quality employees can be attracted by a firms SSP. Furthermore, SSP positively influences the employee satisfaction which in turn might lead to a competitive advantage by boosting productivity and efficiency. However, this article aims at showing up areas in which more research has to be conducted in order to fully grasp the influence of corporate social responsibility on the human resources of firms. Especially, empirical research is needed to confirm the theories that have been proposed until now. But also in regards to the constantly changing ways of how companies pursue CARS, it is important to investigate which of them have the greatest impact on employees and their morale. Only then will it be possible for firms to capture the largest benefit of their CARS activities: the creation of a sustained competitive advantage.

The Brown Wasps Essay Example

The Brown Wasps Essay Example The Brown Wasps As pointed out by Bear (1), The Brown Wasps is a Loren Eiseleys essay which demonstrates how human sense of place and self can be based on the fantasy and false remembrance. He notes that Eiseley, through his writing, depicts humans and animals as primarily clinging to things they are strongly acquitted to and even in most cases they act as if nothing has changed at all. According to him, the Eiseleys essay portrays how humans and animals tend to relate to nature intrinsically based on their belief rather than the reality. This raises philosophical concerns as to why people tend to keep to their fixed images even in the unchanging present times. This paper summarizes and responds to the article The Brown Wasps. Summary and Response to the Article At the beginning of the essay, Eiseley carefully constructs a rumination that illustrated how humans and animals tend to act in a similar manner. Eiseley compares the homeless men who find shelter in train stations with the scenario of the wasp that continuously revisits its hive for accommodation. This is evident in the manner in which both men and wasps die in their special areas. As pointed out by Bear (1), Eiseley depicts homeless men coming to die to the train station benches as similar to the death of wasps in the paper homes. He notes that men sit and cling to benches at the train stations and at times fail to leave the benches even when chased by policemen. Equally, Eiseley notes as dying wasps are lingering around their hives until they are worn out and died. This shows that human beings, just like other animals, have an imaginary home in their minds that acts as their reference point to the actions. Additionally, he uses the wasps and homeless men scenario in the article to denote that all that matters in this world is occupying a given space. Dickson (1) notes that Eiseley in his essay depicts a place as the heart of things that humans and animals engage in. However, the similarity at which Eiseley denotes humans and animals imagination about special place is what raises philosophical issues. According to Dickson (1), Eiseley shows that other living creatures tend to carry these special places within their minds similar to humans. He notes that the repercussive effect of this notion towards animal is whether a cat, dog or a cow on their returning to their homes, see the buildings as anything rather than a place for biological needs. Moreover, Eiseley in his essay denotes human beings and animals as primarily clinging to a given time and place where they have adapted to. As he notes, both the dead and the living revolve endlessly about an episode, an event that has been engulfed by time. Dickson (1) points out that the central memory of place, and the episode of things that happen around us is the pivotal centre around which other events and other memories have been organized at a given time. For instance, Eiseley notes that a slug eating ice cream in abandoned Dixie cup which is its right place and furthers with the act until something changes that is a bit of ice cream left over. The concept of originality tries to exemplify why people tend to lose the reality especially in case of mental illness. This is due to the fact that changes in gene depression normally alter the brain functionality thereby ensuring loss of original home and reality. Therefore, it is important to base our present activities on previous fixed image in order to keep the originality of ourselves which wholly dictates our functionality. On the other hand, Eiseleys essay gives the notion of human beings and animals that try to recreate imaginary structures in order to cling to their original ways. This is evident when Eiseley denotes a group of pigeons who returned to the demolished railway station in order to hopefully recreate their home. He notes that the fact that these pigeons were provided by food by people at the railway station, they had clung to the place as the heart of things that would enhance their existence. By this, Eiseley signified that only the past can be a nail to which our present existence and success can be anchored to. According to Cain (132), the boy in the narrative has never lost the grit about the tree because he could remember some of the past spoken words by his father. She points out that the tree which was planted by the boy sixty years ago had taken roots in his mind and he believed that living under its branches was going to make him prosper. This tree, which represents the family, denotes how old the family life is. It also indicates that we constantly look at it in order to form the basic construction of our memories. Conclusion In conclusion, The Brown Wasps essay has highlighted human minds as based on the past events that dictate their present lives. It shows the need of people to adapt to changing environments that help them to restructure their minds from fixed imagination in order to live in an organized society. Moreover, time and place have been noted as important elements of life.

Health Article Example | Topics and Well Written Essays - 500 words

Health - Article Example This issue can easily affect all 7 of the areas of health. Because it is a mental and emotional fear, it easily can have negative repercussions on the mental, emotional, and intellectual areas of health. The irrationality of this fear could also have repercussions on my physical, financial, social, and spiritual health. Because I might be afraid of being alone, I may not exercise unless I could do it with a group, which may not always be able to happen. I may have to spend money on helping my condition, which would have an effect on my financial health. My fear of being alone/ of my self could also cause me to try to always be with people, something my friends may not like. It however, could possibly have a positive impact on my spiritual health, as I may turn to the divine to try to help me with my condition. Autophobia, because it is a "phobia", or fear condition, it is hard to find exactly how many people are affected. I was unable to find exact numbers, however one website refereed to it as a "common, although often unspoken" phobia. I have found several different organizations that are involved with helping people deal with this phobia. One is CTRN(Change That's Right Now) Phobia Clinic.