Category: Samples

FINANCIAL INTERMEDIARIES

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27^th, February, 2012

 

Introduction

Financial markets bring together the borrowers and lenders, who transact with financial assets, depending on the type of needs they all have. This has therefore, resulted in the argument about the role or the importance of financial intermediaries in financial markets. Financial intermediaries in financial markets are of essence to both the borrowers and the lenders, and therefore, their role in financial markets cannot be underestimated (Besley and Brigham 2011). In this essay, I will discuss the importance of financial intermediaries in financial markets by identifying the roles these play in financial markets, including both the positive and negative ways. Nonetheless, from this essay, one will understand that financial intermediaries are here to stay, considering their positive influence in the economy, which supersedes their negative influence in the economy.

Financial markets exist in almost all countries in the world, as these play an important role in the economy of a country. A financial market can be defined as a type of market where there is the trade of money and other assets, which are in the form of finances. In this kind of market, financial assets are traded in different manners. For instance, this includes the exchange of previously traded financial assets, as well as the trade of new financial assets. Besley and Brigham (2011) note that, financial markets are different from asset markets, and that this is a conceptual term, since financial markets lack a specific location, as in the case of asset markets. In the financial markets, borrowers and lenders interact at different levels. Therefore, there is also borrowing and lending activities in financial markets. There are different examples of financial markets in the world today, and these include but not limited to the New York Stock Exchange, which specializes in the selling of stock shares issued previously; the United States Treasury, bills auction, and the United States government bond market, among others. Financial institutions on the other hand, are those types of institutions, which make profits primarily basing on the transactions of financial assets. These include banks, discount brokers, and insurance firms, among others (Besley and Brigham 2011).

Financial markets are significant to an economy, because of the roles they play in a country. First, financial markets enable lending and borrowing to take place. This is through the granting of purchasing power to various agents, to transfer funds for different purposes, including investments and consumption (Burton, Nesiba & Brown 2009). Financial markets also play a significant role in determining prices for new financial assets and the existing ones. These also allow for the risk sharing between providers of funds and the investors. In addition, the stockholder in a financial market is given an opportunity to resell their financial assets, a process known as liquidity. Finally, financial markets help in the reduction of both the costs incurred in transaction and information, thus increasing the level of efficiency. Besley and Brigham emphasize the importance of financial markets, as enabling the flow of cash in the economy, since these avail different ways for lenders and borrowers to transact financially (2011).

In the financial markets, there are different types of players, just as the case of any ordinary market dealing with goods and services. These various players in financial markets are what are referred to as ‘financial institutions.’ These mainly make their profits from the transactions between the borrowers and lenders in the financial markets. These financial institutions in the United States of America are classified into four major broad categories. These include brokers, financial intermediaries, dealers, and investment bankers. All these have their specific functions in financial markets, and therefore, are of high value. Sometimes, the financial markets might not be able to survive without these four categories of players in the market. This essay will however dwell on the ‘financial intermediaries,’ and why their presence in financial markets is important, even though financial markets can bring lenders and borrowers together by themselves (Burton, Nesiba & Brown 2009).

The first and most important reason why financial intermediaries exist in financial markets is that these act as an entry point to both the lenders and borrowers in financial markets. Today, most people, who are lenders and borrowers in financial markets, will find their way into the financial markets through the financial intermediaries. The most popular financial intermediaries in different countries are the ‘commercial banks.’ These are existent in the macroeconomics. However, other intermediaries include loan associations, credit unions, pension funds, and mutual funds (Burton, Nesiba & Brown 2009). When people deposit their money in banks, the money does not just lie in the banks, instead, the banks use the money for various purposes, which bring them interests. This especially includes loaning out the money to different individuals to meet their different needs and giving out loans to people interested in buying homes, through the mortgage. In this case, the bank benefits from other people’s money, which they deposit in order to save. It is also possible that a person who has money can seek people interested in borrowing this money, instead of depositing it in a bank. In this case, the owner of the money is the one who benefits from the interests on the loan. Therefore, it is possible for savers to do away with the financial intermediary so that the get a higher return on their money, instead of the intermediary, who gets the highest return from the savers’ money. However, this is not the case today, as most people prefer using financial intermediaries, and it is hard to do away with them (Sinha 2001). Therefore, the question that emerges is ‘why are the financial intermediaries important in financial markets?’

Apart from serving as an entry for lenders and borrowers into the financial market, the financial intermediaries play other very important roles, no wonder they keep rising in the economy. It is less risky for a person to lend out their financial assets using the financial intermediaries, than lend out directly. The main reason is that a financial intermediary has more financial security, compared to an individual saver. On the part of a financial intermediary, it is possible for the institution to diversify. In addition, financial intermediaries give out many loans to people, compared to an individual saver, who might make only a few loans. Therefore, financial intermediaries are in a higher position to withstand losses, compared to an individual saver, who will fall out if they experience great losses. Therefore, this is why most people will prefer to use the intermediary in their financial transactions, as security is key in matters concerning finances (Sinha 2001).

Financial intermediaries guarantee agents security, since they know about different strategies of reducing risks. The financial intermediaries, compared to an individual saver, are exposed to a greater number of people, and this is beneficial to them as institutions. First, having diverse loanees helps financial intermediaries to be able to predict well the nature of these borrowers, and establish the characteristics of borrowers who can be trusted to repay the loan, and the nature of those borrowers who cannot be trusted to repay a loan. An individual saver might lack the experience and knowledge of establishing and differentiating between a trustful borrower and one that cannot be trusted to repay the loan. In this case, therefore, an individual saver might dish out loans to the wrong borrowers, who might not repay, thus leading to losses, and probably falling out of business. On the other hand, financial intermediaries will predict well the nature of a borrower, and will therefore give out loans to borrowers, who will repay the loans within the stipulated time (Smart & Megginson 2008).

Engerman (2003) notes that, financial intermediaries in financial markets offer liquidity to the savers. Through liquidity, savers are able to change or convert non-financial assets into financial assets, within a short time. For instance, a house is an asset, which illiquid. Therefore, if one needs money urgently, it might require them a lot of time to find a willing buyer for the house. This is the case with an individual lender and borrower. It might be hard for a borrower to pay back the lender’s loan, if it was an illiquid asset, and the lender needs the repayment within the shortest time possible. Here, the borrower might be forced to seek another person who can purchase the loan from him, which is also hard. Therefore, when people transact directly, liquidity is not guaranteed in the course of their transactions. On the other hand, financial intermediaries are able to provide liquidity to savers. Only in rare circumstances will these fail to provide this. Nonetheless, if this happens, these financial intermediaries can seek financial aid from their governments, which they can still paid back after stabilizing back to normal (Engerman 2003).

Financial intermediaries in financial markets also contribute to the market when they trade among themselves. In the United States’ federal-funds market, banks and borrow money from each other, and lend to each other. These banks also participate in the purchase and trading of foreign exchange. Therefore, these banks, being financial intermediaries in the financial markets, not help the borrowers and lenders in their participation in the financial markets, but they also contribute positively to a county’s economy, when they operate their business and transact successfully (Engerman 2003).

Although financial intermediaries are beneficial in the financial markets and to the economy of a country in general, some of the threats these pose cannot be overlooked. Today, some economists have questioned the usefulness of financial intermediaries in financial markets. These claim that the financial intermediaries are a threat to the economy, in case their financial operations backfire or in case they experience great losses that cannot be recovered. This is so because of different reasons. First, most financial intermediaries, such as banks, normally have debts, and their debt is in form of money. Therefore, if these encounter experiences that influence them negatively and destabilize them, this means that the flow of money in a country’s economic system will as well be influenced negatively, and destabilized too. When this takes place, the concerned country suffers economically (Burton, Nesiba & Brown 2009).

Secondly, according to Sinha (2001), financial intermediaries are considered a threat to the economy because, these intermediaries are interconnected, with other financial bodies through financial assets and debts, and together, these form a network. Therefore, in this network, one financial body influences the other, since it is like a chain. This means that, if one intermediary succeeds, this will strengthen the chain and bond. On the other hand, if one or more of the intermediaries collapse or lose out, the chain will weaken, and might even break, if the impact is big. If this is the case, most financial institutions will be influenced adversely. If this effect is immense, the economy of a country might as well get injured, or even collapse if it is hit the hardest. Therefore, financial intermediaries, apart from being beneficial in financial markets, they also pose serious risks to the economy, in case they fail to succeed.

Smart and Megginson (2008) note that today, financial markets have continued to grow, but the importance of financial intermediaries has kept decreasing, as far as their interaction with corporations is concerned. Today, most corporations do not turn to financial intermediaries, such as banks, for a debt or for borrowing. Instead, these seek such services from capital markets. Financial intermediaries today therefore, deal with more individuals and groups, compared to corporations.

In conclusion, financial intermediaries play an important role in financial markets. These act as an entry point for lenders and borrowers into the financial market. Additionally, these facilitate borrowing and lending activities among agents. It is more advantageous for one to lend or borrow through intermediaries, as compared to directly through another individual saver. Intermediaries guarantee participants in the financial market, security, since these are more stable than individual savers, and therefore, are more stable and strong to counter different economic waves, while ensuring smooth and uninterrupted transaction with its clients. Therefore, these are some of the reasons why the presence of intermediaries in financial markets is justified. However, these need to be managed with expertise, as they are volatile, and any wrong financial decision undertaken is capable of resulting into great losses of the intermediary. This loss will eventually be transferred to the national economy, which might be crippled in the process. Nonetheless, as far as intermediaries are of essence in financial markets, these should be managed with great expertise, as their failure poses a risk to the economy of a country.

 

 

 

Works Cited

Besley, S. & Brigham, E 2011, Principles of Finance, Cengage Learning, New York.

Burton, M., Nesiba, R. & Brown, B 2009, An Introduction to Financial Markets and Institutions,

M.E. Sharpe, London.

Engerman, S 2003, Finance, Intermediaries, and Economic Development, Cambridge University Press, London.

Sinha, T 2001, “The Role of Financial Intermediation in Economic Growth: Schumpeter Revisited,” (in Dahiya, B. and Orati, V. (eds.) Economic Theory in the Light of Schumpeter’s Scientific Heritage, Spellbound Publishers, Rohtak, India.) Viewed 26 February 2013 < http://icpr.itam.mx/papers/SinhainDahiya.pdf>

Smart, S. & Megginson, W 2008, Corporate Finance, Cengage Learning EMEA, New Jersey.

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Critical Response to a News Event

            The article by Fogg in the Guardian addresses the issue of the housing benefits to large families, which have parents that lack employment. In this article, Fogg expresses his personal views, about this issue, and he as well shows his judgement on the whole situation. The main event that led to this article was when recently, a woman identified as Heather Frost, from Britain’s Gloucestershire is offered a ‘mansion’ to live in with her eleven kids, husband, and two grandchildren. Fogg feels this is wrong, as it influences the economy negatively. He also wonders why such insignificant issues are featured in the news, since such families do not add value to the economy of their country (Fogg WEB). Therefore, according to Fogg, the economy suffers when big families with unemployed parents, are given free housing by the government. However, I tend to disagree with Fogg on this. The woman might not be responsible for her situation. She might not have chosen to have a big family and be unemployed. Therefore, I believe it is morally right for big families with unemployed families to receive any kind of benefits and aid from their government. In this essay, I will therefore, give a critical explanation of the author’s argument, and counter that basing on my own convictions about the whole issue.

Fogg is quite judgemental about this situation when Heather Frost is given free housing. He is opposed to this step by the government, and is opposed to the publicity the media gave this issue. According to Fogg, such a family is insignificant to the economy of a country. This is a heavy statement, which bears different meanings. Nonetheless, Fogg thinks the government took a wrong step by providing housing to this woman. This is a free world, where everyone is entitled to their opinion, and Fogg just gave his personal views about this case. Nonetheless, different people will view and judge this scenario differently. While some, like Fogg might be opposed to it, others will find reasons enough to justify this step by the government.

When Fog claims that this woman and her family, and other families like this are insignificant to the economy, he meant different things. The first thing is that this woman and her partner are both unemployed. When a person is not employed, normally, they will not have salaries to be taxed by the government, except for the basic taxes on goods and services. Therefore, these are not as significant to the economy, as those people with employment. Secondly, people who are unemployed have a lower economic status in society. Therefore, this means that their financial capability is low, compared to those who have jobs. These people also have a lower social status in society.  Therefore, it is impossible for these to do anything constructive in society. Most projects need finances, therefore, without a financial source; these are not able to engage in any developmental project. Therefore, these lack the power to make any kind of investments. This is why Fogg considers them insignificant and a burden to the economy.

Another reason why Fogg considers Frost and her family as insignificant to the economy is because he thinks they are financially crippled, therefore, cannot afford important aspects of life, which lead to personal development, and the development of the society as a whole. For instance, with eleven children, and no job, it is possible that Frost and her husband could have a challenge raising these children. They could probably lack finances to cater for their education. Education is basic and core to an economy, therefore, lack of an education derails a country’s economy in different ways. Secondly, Frost and her partner could have difficulties feeding this big family, without a source of income. Nutrition and healthy eating relates to the quality of health of a person. Therefore, the eleven children could possibly be lacking an appropriate diet, considering the fact that their parents lack a source of income.  Additionally, Frost and her partner could have had challenges in affording quality health care for their family, provided they do not have a source of income. Fogg possibly based on these factors when he considered Frost and other families like hers, as economically insignificant.

Fogg also raises the issue of the number of children a family should have.  According to Fogg, it is wrong for anyone to have a large family when they know that they cannot provide for the family, let alone basic needs. The case of Frost and others, who have received out of work benefits from the government, then becomes a burden to the government and economy in general, since the government has to take up the roles of the parents in these families (Fogg WEB). Frost has eleven children and two grandchildren. In the contemporary world, this appears to be a large number, and it is rare for even those who are financially able, to have such a big number of children. Therefore, Frost feels that such cases are unfair to the government and to the economy of a country.  According to him, the finances given to such families could have been used by the government on different developmental projects, which add value to the economy of the country.

Fogg criticizes sharply the fact the media paid attention to this case, and even publicized it. Therefore, he prefers that the media does not cover such cases, because these have negative implications in the society. He thinks that some cases like Frost’s case are just fabrications by the media, since most lack a backing by authorities concerned with such cases in the country, such as the Child Poverty Action Group. Therefore, it is evident that he casts a doubt over such coverage by the media, which is probably why he is overly judgmental on Frost’s case.  He claims that this kind of reporting is harmful and might turn the poor against the poor, thus leading to strained relationships among them, as some might feel that they too deserve such benefits.

Generally, Fogg has judged the whole situation harshly. From his judgment of the situation, it might appear as though Frost and her family chose the line of poverty deliberately. It is also clear that Fogg is more concerned with the economy of Britain, and shows hate for poverty and unemployment. According to him, people should get employment, have fewer children, be responsible for their themselves and their families, and contribute positively to the economy of their country. This is rather a perfectionist approach in judging and handling issues in society.

Thinking in the line of Philosophy, I believe life is not perfect, and might never be perfect, just like no person is perfect. Therefore, I believe perfection is an ideal. Life is full of imbalances, and these are reflected in the society. Not everyone is going to be rich; there must be the rich and poor in society. Not everyone will live up to the expectations of their country; some might just fail to do that. If this is the force of fate or not, remains unclear. Nonetheless, people are different, and will always be different, in society. Fogg therefore, did not approach this case in the most appropriate manner. He was too judgmental, which is wrong. He failed to look into the circumstances surrounding the situation of Frost and other such families, before making such crude judgment.

I realize that Fogg was selective with what to address as far as Frost’s condition is concerned. For instance, he disregards the fact that Frost is a cancer survivor and only mentions that, without relating the implications of this health condition to Frost’s situation. Most of Fogg’s judgment on Frost’s case is biased. Although he has addressed important issues, he would have chosen a different approach in presenting his argument and judgment on the situation. The approach he has utilized is openly judgmental and critical, which is not appropriate for this kind of an issue, which I believe should be addressed with more considerations.

Unlike Fogg, I believe that the government does right to support poor families in a country. This is right as long as these are genuine cases, and follow the right channels. A government is charged with the responsibility of protecting its people. Therefore, by helping such families, the government is in part fulfilling its obligation. This is an aspect that people need to understand, and view positively, and not critically, as Fogg does. Not all people will be at the same standard in society. The poor too deserve to live comfortably, and it is the moral obligation of the other people, who are better off to support the poor in society. By using public funds to support such families, it is another way of the financially able people to support the poor, and this is acceptable. Although different people might dispute this, I consider it an unwritten rule for humanity to adhere to. Humans have the nature of looking after one another, and so, individualism and hostile economic factors in the contemporary world, are not reasons enough for humans to give their backs to the poor in society. Therefore, Fogg is quite misguided in his judgment, since we as humans are obliged to help other humans in difficult situations, and the government is right when it avails benefits for families such as that of Frost. This is not a waste of public funds, and these families are not economically insignificant, as Fogg puts it. It is not always all about the economy.

In conclusion, Fogg takes an idealist stand when he argues that big families with no source of income should not be entitled to government benefits since they are economically insignificant. However, I believe these should be supported, since these might be victims of circumstances such as the economy, and it is the duty of the government to protect its citizens, including these. In addition, it is human nature to support other humans in difficult situations. Therefore, as long such families are genuine, they should be supported. However, government should conduct this in the most appropriate way to avoid making poverty appear enticing to the people, because of the benefits. Nonetheless, the issue of poverty and human survival is an integral part of humanity, which counts more than the economy. Therefore, no matter the economic turmoil of today and the drift towards individualism, humans should not lose their hearts and their humane side.

 

Works Cited

Fogg, Ally. “A Mother of 11 Housed in a ‘Mansion’? Spare Us this Modern Morality Tale.” The

Guardian. 19 February 2013. Web. Viewed 26 February 2013 <http://www.guardian.co.uk/commentisfree/2013/feb/19/mother-11-mansion-media-families-benefits>

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Libraries

Libraries all over the world are fascinating places today. Indeed, libraries have undergone tremendous changes, beginning from the past up to the present. In the past, the library was a quiet place, where the walls were filled with books on different topics. However, today, libraries are quite different in atmosphere and function. In the past, you would enter the library and “stake out your favorite table and save seats for your friends.” The “high ceilings and stained-glass windows often appearing in each building called the library set the mood.” Today, upon entering the library one must whip out an identification card in order to access a computer, which might be in a small terminal area, without any friends waiting.

According to the text, Neighbors Remember Parrish Memorial Library, Bill Marcus recounted the day in 1989, when furniture from the library was sold to the public. He notes that he was able to buy the old card catalogs. However, today students think a card catalog is a book used to look for cards to purchase. Marcus further noted that collections of VHS videotapes and books on cassette were purchased at a bargain price. Suddenly I could hear the clickety clack of a machine eating tape!  The digital age has changed the purpose of a library significantly. Referring to the text, State-of-the-Art Library Opens, the reader realizes that libraries today are more exciting and technologically advanced, just like the rest of the world in this 21^st Century.

The term ‘diversity’ is relevant when comparing and contrasting libraries of today and yesterday. Today, students do not just sit in the library quietly reading a book or a study guide. Today, things have changed, as students “participate in everything from tutoring programs to chess tournaments” as well as “take advantage of cooking classes, story time, make-and-take craft programs, and attending book club meetings.” Imagine the roaring sound of games and activities in a library instead of the silence and shushing of the little white headed librarian.

Fourteen-year-old Andrew Chase summed it up well stating, “The place is awesome. I think it will make our neighborhood more fun to have the library here.” Nonetheless, libraries have outlived their role as a place to just read a book. Today, libraries are digitalized learning centers, which add fun to the reading experience.

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ORGANIZATIONAL DEVELOPMENT

Part 1

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Course

Tutor’s Name

26^th, February 2013

 

a)      External Environmental Factors

The general organizational strategy is greatly influenced by the external environment. Specifically, macro environmental factors impact on an organization in various ways. Those factors are treated as the uncontrollable once hence they have major effect on the HR strategy or as a matter of fact, in any kind of organisational strategy. As an organisation you can only adjust, but not control them. PESTEL analysis and SWOT analysis can be used to address this. They are applied to understand the aforementioned elements (Armstrong, 2009). After using such strategic concepts, the following factors and their effects on Aldi are being discussed.

Competitor Power

Competitors may look to poach the employees of Aldi through head hunting. This is a very common threat faced by most of the organisations. You invest so much of money to train and develop an employee and suddenly he or she may be poached by one of your competitors leaving an organisational gap. In this case, the competitor might be offering more attractive compensation to the employees, therefore, making the employees to leave, especially if the company lacks enough finances to upgrade its employees’ compensation (Bamberger & Meshoulam, 2000).

Economic Uncertainty

Economic uncertainty may lead Aldi to freeze their recruitment temporarily or even release some of the existing employees, or it may lead them to cut short on some of the employee benefits leading to a state of organisational unrest. When this happens, the trained and skilled employees will lose their jobs in Aldi, leaving Aldi with few employees, therefore, a shortage of skills that previously were present occurs. This will be felt in the workload of the company, which will be demanding for the employees left behind to handle (Torrington, Hall & Taylor, 2011). However, this will be beyond the control of Aldi.

Talent Shortage

At some point of time the Aldi may come across a phase when demand is greater than supply, i.e. there is need for quality manpower but there is a lack of adequate supply. Talent shortage may be for senior executive position or for new comers (Bamberger & Meshoulam, 2000). This can become challenging to the organization, since more skills and talent will be required to address new demands in the market. This might lead to poor performance of the company.

Industry-centric

            Some organizations are more affected by employee turnover than others. This is something they cannot control because of their nature and specialization. These kinds of organizations are those that deal with tourism, healthcare, food, and retail industries. Aldi, being  a retail company therefore, puts it in a situation whereby most of its employees could leave. Most retail companies do not require employees who are highly skilled, like other professional careers. Therefore, this is Aldi’s nature, which is beyond the organization’s control. A good number of employees might leave Aldi, since there are many other retail companies, where they could get opportunities too. Additionally, employees working in jobs that require less or simple skills, such as retailing, are more likely to switch jobs (Armstrong, 2009).

b)     Aspects of Corporate and Human Resources Strategy

Nowadays, it is widely believed that human resources of an organization is influential in the organization’s productivity levels. The human resources can as well be the source of an organization’s competitive advantage over its competitors. This is achieved when the human resources has adopted effective policies for managing people, who are the employees, and these policies have been integrated with the culture of the organization, as well as the strategic business planning of the organization. With this, Aldi, as an organization, can also make use of different aspects of human resources and corporate strategy to enhance its organizational capacity. The human resources and corporate strategy should aim at retaining its employees, in whom the organization has invested (Royal Chartered Registered Charity, 2012).

Correct Employee Recruitment

            If Aldi wishes to ensure that it acquires the right people only as its employees, then the human resources must conduct recruitment correctly. New employees should be aligned to the organization’s goals and objectives, so that they are aware of the company’s expectations of them. The human resources should also ensure proper screening of potential employees during the recruitment process, to ensure that none of those with a history of switching jobs is selected. This will positively influence the organizational capacity of Aldi (Torrington, Hall & Taylor, 2011).

Job Definition

            The human resources should play the role of telling the employees what they are supposed to do in their jobs, and what roles their jobs entail. Therefore, this requires that Aldi has an informed human resource management personnel, who are knowledgeable about the various job positions in the organization. These should then know also, where different jobs fit in the company, what the expected outcomes of those are, and the effects of that job on different areas in the organization. Additionally, the HR of Aldi must have knowledge about the skills required for different jobs in the company. When the HR is this informed, it is easier for them to judge a candidate that is best fit to undertake a particular job in the company, and one that is not fit. The HR should also be sure to emphasize job description during their recruitment, so that only the right candidates avail themselves. The HR should as well emphasize corporate culture to employees (Torrington, Hall & Taylor, 2011).

Incentives

            The HR can use these to motivate employees to be more productive in their jobs. This could be through use of a scorecard, which indicates major successes. Using this will help in getting the employees motivated, and together they will work collectively toward achieving company goals. In addition, this will make employees to be satisfied in their job, and will not think of moving to another organization. The HR can make use of different incentives, including financial and non-financial incentives.  When employees are motivated, they use their skills, talents, and innovativeness well on their jobs, thus influencing the organizational capacity, positively (Robinson, 2005).

Democratization

            Aldi can ensure democratization in the company through various ways. However, one of the most effective ways of ensuring this is through involving the employees in company’s major decision-making. Employees should be involved in all the levels of decision making, so that they feel part of the organization, and feel that their contribution to the organization is of essence. Specifically, employees should not miss to be included in any decision making, which concerns them. Giving a voice to employees through democratization also helps them come up with important ideas, which the company can capitalize on for improved operations. This is because democratization allows employees enough freedom to utilize their creativity and innovativeness for the good of the company (Bamberger & Meshoulam, 2000).

 

Training and Development

            The human resources at Aldi must incorporate training and development in the organization’s culture. First is through identification of training needs of employees, and addressing them. Additionally, the HR could train employees on new skills, which are related to their jobs. This way, employees will be more skilled, and they become important assets of the organization. Training and development of employees also ensures that they are satisfied with their jobs, since there is progress for them (Royal Chartered Registered Charity, 2013).

 

 

References

Armstrong, M. (2009). A Handbook of Human Resource Management Practice. 11^th Ed.

Philadelphia: Kogan Page.

Bamberger, P. A. & Meshoulam. I. (2000). Human Resource Strategy: Formulation,

Implementation and Impact. Beverly Hills, CA: SAGE.

Robinson, D. (2005). Management Theorists: Thinkers for the 21^st Century ? Retrieved from

http://www.gdufs.biz/theorists.pdf.

Royal Chartered Registered Charity. (2012). Employee Outlook. UK: CIPD.

Royal Chartered Registered Charity. (2013). A Barometer of HR Trends and Prospects. UK:

CIPD.

Torrington, D., Hall, L., & Taylor, S. (2011). Human Resource Management. 8^th ed. Harlow:

Prentice Hall.

 

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REFLECTIVE REPORT ON GLO-BUS

By Name

Course

Tutor’s Name

Institution

27^th, February, 2013

 

 

Glo-Bus is an online business simulation exercise, which I undertook in the last semester, between early October and end of January 2013. In this exercise, I was part of a team, consisting of co-managers operating our hypothetical digital camera company. In this company, as new members of the management team, we were given the responsibility of ensuring that our company has a competitive advantage over the other competitors in the market, as competition is high and tight. We were therefore, charged with developing a winning strategy for our company. This should help maintain customer loyalty to our company brand, and even attract new customers to boost the revenue of the company. Generally, this was to ensure that our company remains the leader in the industry of digital cameras.

As a team, we completed the exercise successfully. It is however, important that after completing such an exercise, one revisits it, and its implications on their academic development, and other benefits this could have had on them. Therefore, through this reflective writing about the Glo-Bus, I am analyzing the whole business simulation exercise, what it means to me, as well as how it has changed me, and my perception toward this business course. By using the correct reflective practice techniques, my analysis of the Glo-Bus business simulation experience will be sensible, and will clearly outline the most important factors, which detailed the whole simulation exercise. This will also help me as an individual to clearly establish the outcomes of the simulation exercise. In addition, I will establish whether as a team we managed to achieve our expectations of the business simulation process or not. Additionally, as an individual, I will be in a position to evaluate my individual contribution to the whole process, and determine if I was resourceful in my team or not. Nonetheless, this business simulation exercise has influenced me in different ways, as today, I view company managed from a different perspective, after being involved in a more practical experience of company management.

The Glo-Bus business simulation exercise is a case of experiential learning. This is an important aspect of the learning process, which has positive outcomes on the learners. I consider the whole exercise educative, informative, and a fun way of learning. According to Kolb et al. (1971), experiential learning should be included in the learning process, as this boosts the quality of learning, as well as the learning outcomes. They divided experiential learning into four stages, including concrete experience, observation and reflection, abstract conceptualization and active experimentation. Therefore, reflection after experimentation counts, according to these authors. Therefore, the reflective approach argued by Kolb et al. (1971), helps me, as a learner to evaluate the impact of my experiential learning on my ideologies and on the learning objectives of the specific course.

This was my first experience with an online business simulation exercise. Therefore, I ventured into this exercise with a lot of expectations and enthusiasm, that I would learn more business management concepts, and add on to my existing theoretical knowledge of the business processes and concepts. Additionally, this, I thought would give me a feel of what being a manager, or what being part of a management team in a high-ranking company entails and feels like. This is because, in our company, I was a co-manager, therefore, had the responsibilities of what a co-manager does in real life management cases. According to Butzen and Lee (2003), corporate leadership requires high level of discipline and integrity, especially where finances are concerned. Nonetheless, this is what this simulation experience also presented me with.

The learning experience in this business simulation exercise revolved around, but not limited to the basic mechanics of operating a company. Christodoulou and Zorica (2012) consider these to include a variety of company and market aspects, such as the manipulation of the demand levels in the market, the production process of the company, control of company stock, and general company management procedures. Social responsibility is another important aspect that was inclusive in this exercise. According to Kotler and Lee (2011), this is an act of charity, which boosts a company’s PR. However, most people do not capitalize on it to gain a competitive advantage.

This initially sounded to me like a simple process, since it is all about simulating. However, this turned out to be the other way, since I learnt this to be different, from what I expected it to be. Upon completion of this exercise, I discovered and learnt that making managerial decisions is not an easy task. This requires expertise, experience, and a lot of care, considering that one is accountable for the decisions they make while in management. This is also because of the fact that carelessness in decision-making, or lack of appropriate decision-making skills among the management team could lead to wrong and inappropriate decisions. Business and running a company is challenging, therefore, such poor decisions, no matter how small they could be, are capable of affecting a company in a negative way, and even result in its downfall. Therefore, I learnt the essence of decision-making in company management.

As part of our team and as a co-manager, I was charged with various responsibilities in the company. These responsibilities needed decision-making, even though these were lower-managerial decisions. Therefore, I would use my free time during the day to troubleshoot problems that were likely to come up in the team, and develop the most appropriate solutions to these problems, as well as the decisions I would settle for in the different managerial tasks I was assigned in the team. Therefore, during the whole exercise, I had to be very cautious of what I bring on board, especially my decisions in the company, as this was capable of either negative or positive outcomes in the company. Nonetheless, I made solid decisions in the company, while team members disregarded those that were ineffective. This helped me developed critical-thinking skills, which Springer and Borthick (2004) attribute to simulations.

Through this simulation exercise, I have been able to apply what I learn in class to a real life management situation. Now I am in a position to develop strategies, analyze strategies, and apply them in company management. Our management team was charged with developing winning strategies for our company. Kearns (2012) argues that the human resource management is core to achieving of competitive advantage in a company. In achieving this, our team studied the market, established different competitive factors in the market, and came up with a final direction, which our company would adopt to lead it to success. In addition, we considered adjusting our company’s strategies, whenever conditions in the market changed. Doole (2005) notes that, the strategic process sometimes requires to be adjusted when conditions in the market change. All these aspects, we were taught in class, and through this simulation exercise, I was able to put them into practice. Through this simulation exercise, I have also come to terms with financial decisions and reporting in a company. I was able to understand the relationship between profits, cost, and revenue, and financial statements, since these were some of the aspects our team was responsible for. I therefore, grew more familiar and deepened my understanding of statistical calculations, including cash flows in a company, and how these should be managed. Financial management is key to a company, as poor financial management leads to deterioration of a company (Khan 2004).

Although our simulation exercise ran smoothly, our team was influenced by various factors, both negative and positive. However, I would be wrong if I confessed that this exercise in our team was full of shortcomings. In this training experience, I accept we adopted a low-approach, since we were just learners, simulating different aspects of company management. Due to this approach, it was obvious to experience differences among group members, mainly in the process of decision-making in the company. Each one of us was a co-manager, with different opinions about different business aspects and processes in our company. There would therefore, arise cases, where each one would want their ideas to be adopted, or have a greater influence in the final decision. However, we dealt with this using various strategies, such as incorporating everyone’s ideas only if they were applicable, in order to avoid settling for wrong choices, as well as excluding other team members from decision-making. On the positive is that our team embraced teamwork, and encouraged all members to contribute to the exercise in all their capacities. This teamwork ensured positive outcomes in our exercise, as reflected in how this has made me and others more knowledgeable in various management aspects.

I have learnt various lessons from these scenarios. First, in management; it is hard to please everyone all the time, as far as decision-making is concerned. When it comes to business, managers have to disagree on various concepts among themselves, since agreeing to everything and incorporating it in the company might compromise the stability of the company. In the group, we disagreed on various issues, but this did not break our friendship in real life. This also has enlightened me on how to embrace teamwork in a company, as well as the importance of teamwork in companies, due to its positive outcomes. My leadership skills have improved through this simulation, thus proving Tonks right, when he argued that simulations boost leadership skills in learners (2002).

In conclusion, Glo-Bus has helped me take a myriad of steps in management and strategy development in a company. All that I have learnt from this exercise have developed a number of skills in me, which I previously lacked. First, this has greatly enhanced my decision-making and critical thinking skills, since I had to make important decisions in the company, in the course of developing winning strategies for the company. Secondly, I am in a better position to interact with different people at the team level. I am now a good team player. This is because most work in the company required brainstorming with fellow co-managers, in order to gain more quality and appropriate ideas in running the company. Therefore, in future, I will apply these skills in my work place, to make a difference in the management of the company, especially if I am given a managerial position.

 

 

 

Works Cited

Butzen, P. & Fuss, C 2003, Firms’ Investment and Finance Decisions: Theory and Empirical Methodology, Edward Elgar Publishing, London.

Christodoulou, L. & Zorica, P 2012, Strategic and organisational perspectives. McGraw Hill Education Ltd, New York.

Doole, I. & Lowe, R 2005, Strategic Marketing: Decisions in Global Markets, Cengage Learning EMEA, New York.

 Kearns, P 2012, HR Strategy, Routledge, New York.

Khan, M. 2004, Financial Management: Text, Problems and Cases, 4e, Tata McGraw-Hill Education, London.

Kolb, D 1984, Experiential Learning: Experience as the Source of Learning and Development, Prentice-Hall, Englewood Cliffs, NJ.

Kotler, P. & Lee, N 2012, Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause, John Wiley & Sons, London.

Springer, C. & Borthick, F 2004, “Business Simulation to Stage Critical Thinking in Introductory Accounting: Rationale, Design, and Implementation,” Issues in Accounting Education, 19(2), 277-303, Viewed 27^th February 2013 <http://facultyweb.maconstate.edu/carol.sargent/springerissues2004.pdf>

Tonks, D 2002, “Using Marketing Simulations for Teaching and Learning: Reflections on an Evolution,” Active Learning in Higher Education, 3(2): 177–194, Viewed 27^th February 2013 <http://www.ydae.purdue.edu/lct/hbcu/documents/Usingmarketingsimulationsforteachingandlearning.pdf>

 

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Education and Children with Disabilities

            Children with disabilities face various challenges in education. Different scholars have addressed this, even as different researchers have studied solutions to this situation. Hudson, Browder, and Wakeman noted that for children with intellectual disability, it could be quite a challenge for them to engage with a grade-level text. It is also a challenge for their educators to help them adapt to this. Therefore, in their study, these have focused on strategies, which educators can use to help students with this problem to adapt to grade-level text (14). Lieberman and Conroy were also more specific in their study, and focused on the visually impaired children, and how they could be included in physical education. They explained how Paraeducators could widen their scope and include the visually impaired students in physical education (17).

Schischka, Rawlinson, and Hamilton in their qualitative study addressed the transition of young children with disabilities, from home to school. These also identified the most important factor necessary for a successful transition of children with disabilities (15). Finally, Sartini, Knight, and Collins focused on the importance of formation of social groups in schools so that students with disabilities could be able to socialise with their peers comfortably. They argued that social groups in such scenarios help to address communication needs of children with disabilities (53).

Hudson, Browder, and Wakeman reported that since adapting to grade-level text is a challenge to most intellectually disabled children and a challenge for teachers to help them achieve this, this should not be the end of the story, since there are remedies for this situation. They dwelt on different strategies, which educators can employ in their lessons with intellectually disabled children, to help them adapt faster to grade-level text. These vary and include shortening the text, augmenting the text, using a predicable structure of the text, summarizing the text, among others. According to them, all these, if applied, will enhance an intellectually disabled child’s adaptation to the grade-level text (16-7).

Similarly, Lieberman and Conroy have provided strategies for Paraeducators to help them include visually impaired children in physical education. In the case of Hudson, Browder, and Wakeman, because the intellectually disabled children were challenged with adapting to grade-level text, they were often excluded from active learning. Since teachers found this also challenging, they could focus only on those students with good intellectual capacities. Here, then there comes the aspect of seclusion in education. Similarly, Lieberman and Conroy address the factor of seclusion, although in children who are visually impaired, and being secluded from physical education, and not classroom learning like the case of Hudson, Browder, and Wakeman. Lieberman and Conroy in their study investigated the inclusion of visually impaired students in physical education, and found it wanting. They traced this phenomenon to lack of training of Paraeducators on how to include visually impaired children in physical education. They identified education of Paraeducators in this issue, as the best strategy to address the exclusion of these kind of students from participation in physical education (23-6).

Schischka, Rawlinson, and Hamilton identified the fact that transiting from life at home to school-life is challenging to children with disabilities. In their study therefore, they identified one strategy that would help both the parents and educators of the disabled children, as well as the disabled children themselves to experience a smooth transition (15-6). When a disabled child adapts well to school and the learning process, they are able to catch up faster in class, enjoy schooling, and perform better. This is therefore, a strategy, just like the cases of Hudson, Browder, and Wakeman; and Lieberman and Conroy, to help disabled children adapt to the school environment, and perform better in their education process. Schischka, Rawlinson, and Hamilton identified home-school partnership as the best strategy of achieving a smooth transition of disabled children (15).

Apart from Hudson, Browder, and Wakeman; and Lieberman and Conroy, Sartini, Knight, and Collins also addressed the issue of seclusion of disabled children in school processes. While the former addressed exemption of disabled students in the classroom learning and physical education, Sartini, Knight, and Collins focused on exemption of disabled children from socializing at school. Like the other authors, these also provided a strategy through which educators could help address this issue. According to them, this is through the formation of social groups. They explained the procedure through which teachers could form these groups so that disabled children can feel part of the school fraternity (54-57).

The second aspect, which is common in all these authors, is that they all realize that there is immense difficulty for disabled children to get into education without any challenges. According to their arguments, disabled children are faced with a myriad of challenges in schools, which could hamper their good academic performance. The fact that all the authors addressed different disabilities in children proves that all disabled children, regardless of their disability type, face challenges in education. However, by providing strategies through which these challenges can be addressed, all these authors have shown that, no matter their challenges in education, disabled children are still capable of academic success, if their educators and parents look for the solutions to their challenges.

 

Works Cited

Lieberman, Lauren and Conroy, Paula. “Training of Paraeducators for Physical Education for

Children with Visual Impairments.” Journal of Visual Impairment & Blindness, pp. 17-

28, January-February 2013.

Hudson, Melissa, Browder, Dianne and Wakeman, Shawnee. “Helping Students with Moderate

and Severe Intellectual Disability Access Grade-Level Text.” Teaching Exceptional

Children. 45(3), 14-23.

Sartini, Emily, Knight, Victoria and Collins, Belva. “Ten Guidelines to Facilitate Social Groups

for Students with Complex Special Needs.” Teaching Exceptional Children. 45(3), 54-

62, 2013.

Schischka, Janice, Rawlinson, Catherine and Hamilton, Richard. “Factors Affecting the

Transition to School for Young Children with Disabilities.” Australasian Journal of

Early Childhood. 37(4), 15-23, December 2012.

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Health and Homelessness

            Homelessness exists when people lack a place, which is safe, stable, and appropriate to live and sleep. Homelessness is an issue in different countries, as a considerable number of people do not have stable places to live. Most homeless people have no access to different social services and amenities, including access to health care treatment. These therefore, are vulnerable to chronic diseases, compared to the rest of the population. Homeless people are also prone to an increased use of drugs and other substances, increased mental illness, and increased level of hospitalizations, compared to the rest of the population. As Hudson and Nandy found out in their research, homeless youth registered a higher level of substance abuse (178). In this essay, I will compare various views of different authors about health and homelessness, and compare their study findings and assumptions about the same, to establish how they agree or disagree about various aspects in health and homelessness.

Hudson and Nandy compared different health issues among homeless people. These are substance abuse and high-risk sexual behaviour (178). In their study, they aimed at establishing the rate of substance abuse, high-risk sexual behaviour, and depression symptoms among youth, who were homeless. McNeil on the other hand, in his research, aimed at finding out how substance abuse among homeless people was a health concern among the population in Canada. In another study, Walls and Bell studied the correlates of the young and adult homeless youth, in engaging in survival sex. Finally, Nicholson, et al in their study, used a generalized approach to study the overall health situation of the homeless in Downtown Calgary. The findings of the different researches mainly agree about different health aspects and situations of the studied homeless populations.

First, Hudson and Nandy pointed out that both the homeless youth exposed to foster care and those not exposed to foster care use tobacco, alcohol, and other illicit substances. They also studied the variance of depression and risky sexual behaviours among the group.  However, only their degree of use varied within these groups. While the homeless youth who had previously been exposed to foster care used more drugs, compared to those not exposed to foster care. They have argued that when youth are rendered homeless, they always suffer from anxiety and depression. Since these cannot access health care while on the streets, they turn to “self-medication” through use of drugs and alcohol (183).

On the same note, McNeil and Younger, in their study, confirmed that substance abuse among homeless people is the greatest hindrance to the work of social workers. This according to McNeil and Younger, this contributes to the early death of the homeless people, whenever there is an outbreak of disease, or when they fall sick by themselves. This is mainly because they cannot get access to health care services, since these are homeless (355). Walls and Bell in their research conducted among homeless people revealed that drug use, crack cocaine, and alcohol, contributed and enhanced survival sex among the homeless people (430). Therefore, all the authors who conducted studies among the homeless people agree that the prevalence of drugs and substance use among different homeless populations is prevalent. In their studies, they have all showed that homeless people lack access to health care, therefore, engaging in drug and substance abuse is one way that makes their health condition worse, making some to die at an early age.

Similarly, all the authors addressed the issue of high-risk sexual behaviours among the homeless people. Walls and Bell studied survival sex among homeless people.  They established that this was a prevalent activity by the homeless people, as a means for survival. This is a health concern, as this exposes the homeless people to different sexually transmitted diseases, which most succumbed to, due to lack of access to health care. Similarly, Hudson and Nandy, whose research revealed that the homeless youth, formerly under foster care reported a higher rate of survival sex than those not previously exposed to foster care (178-80).

Nicholson et al identified HIV and other STD’s as the main reason for the deaths of many homeless people who have been homeless for at least six months (66). This therefore, indicates that there was high rate of sexual activity among the homeless people studied. On the other hand, McNeil and Younger identified sexual violence as one of the factors contributing to the poor health condition of homeless people. They argued that this was caused by drug and substance abuse, and that the female were the most affected. According to McNeil and Younger, this leads to spread of STD’s among the homeless, and this situation is aggravated by their lack of access to health care (357).

Conclusively, all the four authors have established that homeless people have difficulty accessing health care. Additionally, these have focused on two important aspects that affect the health of homeless people. These are substance abuse and high-risk sexual behaviour. These are responsible for increased mortality rates of the homeless people, since these cannot access health care to address these health issues.

 

Works Cited

Hudson, Angela and Nandy, Karabi. “Comparisons of Substance Abuse, High-risk Sexual

Behaviour and Depressive Symptoms among Homeless Youth with and without a History

of Foster Care Placement.” Contemporary Nurse, 42(2): 178–186, 2012. Print.

McNeil, Ryan and Younger, Manal. “Illicit Drug Use as a Challenge to the Delivery of End-of-

Life Care Services to Homeless Persons: Perceptions of Health and Social Services

professionals.” Palliative Medicine, 26(4) 350–359, 2011. Print.

Nicholson, Cherie, Graham, John, Emery, Herbett, Schiff, Jeanette and Giacomin, Marina.

“Describing the Health of the Absolutely Homeless Population in Downtown Calgary 2008.” Canadian Journal of Urban Research, 19(2), 62-79, 2010. Print.

Walls, Eugene and Bell, Stephanie. “Correlates of Engaging in Survival Sex among Homeless

Youth and Young Adults.” Journal Of Sex Research, 48(5), 423–436, 2011. Print.

 

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Parenting

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25^th, February 2013

 

Part 1 – Observation

Parenting is highly influenced by the interactions between children and their parents. Different parents interact differently with their children. In most cases, this is dependent on the culture and norms of the society about parenting. Nonetheless, most communities consider parenting important; hence, this should be done in a protective manner toward the child. However, some parents will interact positively with their children, while others will interact in a more negative way with their children.

In my local park, I did made observations of how different parents interacted with their children. Some did this really well, while others did this poorly. There were two major incidences of parent-child interactions, which struck me the most. One was a case of good parent-child interaction, and the other was one of a poor parent-child interaction. In the first instance in my local park, there was a mother and his son. This was a boy, who was close to seven years of age, while his mother seemed to be in her early thirties. These two were relaxing, lying down, after having had some fun in the park.

At some point, the young boy saw another family eating ice cream, so he asked his mother to buy ice cream for the two of them too. The mother ignored, but the boy persisted to ask her. This angered his mother, and she started yelling at the young boy. “You want ice cream, you are already fat, and ugly like your daddy. You want to get fatter and uglier? Do not be a loser, like your daddy. And please, leave your mommy alone, she needs some peace.” The boy covered his face immediately, and started crying, calling her mother. This gave me the impression that the mother was interacting inappropriately with her son. Yelling at the young boy, calling him fat and ugly, and comparing the young boy to his father, was so wrong for a mother to do to her young son.

In the second scenario, I observed a father and his daughter, having some good father-daughter time. The daughter was about five years of age, beautiful and playful. The father appeared to be in his late twenties. These two were playing around, laughing, and generally having fun. Suddenly, the young girl saw an airplane up in the sky. She stopped running and told her dad how much she loved planes, and that she wanted to fly one in future. The father smiled at her broadly, and told her that she was as smart as him and her mother, and that he will support her fully, to ensure she achieves her dream of being a pilot. “You are a smart girl, and nothing can stop you from achieving your dreams in life” the father told his daughter. The little girl was impressed, and hugged her father, thanking him, and telling him how he is the best father in the world. This was a beautiful thing to me, and I thought that this was a perfect father-daughter interaction.

When I become a parent, I will interact with my child on different levels and in various situations. The people, who will observe me interacting with my child, will judge me differently. I am thinking of a scenario where I am at the mall with my child, doing some shopping. Maybe I have bought my baby some candy, but she insists on having more. I refuse to grant her her wish by not buying her more candy. When she starts crying in the mall, I calm her down, and explain to her why too much candy is not healthy for her. I give her the health risks of too much candy and other sweet snacks, and junk food in general. She then cools down, and we get out of the mall, without her having the number of candies she wanted.

In this case, people who would have observed us would have different views and judgment of how I treated my daughter. Some would think that as a parent, I did the right thing by denying my daughter more candy, because of its health risks. To them, this means I want the best for my daughter, and that I care much about her health, and well-being. On the other hand, some would consider me a mean parent. To them, a parent should not make their babies to cry, because I made my daughter cry when I refused to buy her more candy. In addition, such people will think that I am a mean parent, because I refuse to offer my daughter what she wants. To them, maybe a parent should provide their children with whatever they ask for. Nonetheless, I will consider myself as a responsible parent, because I was protecting my daughter from ill health. In addition, I explained to her why I denied her more candy. Therefore, the people who will have observed me and thought that this was an appropriate parent-child interaction will be right.

 

Part 2 – Hypothetical

            My hypothetical daughter is four-years old. At this age, my daughter needs to be provided the best environment for both physical and psychological growth, since this is among the prime years of her growth and development. She needs to eat healthy for a healthy growth, considering her age. She also needs social skills, since at this age, she has started to be friendly to people and occasionally enthusiastic. Social skills will therefore, help her interact well with other people. We have a strong bond and I like taking her with me to most places I go. This time, we are in Wall-Mart, doing some family shopping. This baby also needs cognitive skills. This is especially in language, since by this age, she can articulate words well, and is learning to be good in language. Cognitive skills will make her learn and adapt faster to language.

While at the retail store, my daughter and I will enjoy walking around the store, comparing prices, and looking at the variety of products on display in the store. In undertaking all these activities, as a parent, I will look for ways of making my daughter learn one or two things out of the whole experience. I would teach her different skills and lessons, while in the store, and on our way back home. First, I would ensure that I teach my daughter how to compare things, for instance height, tone of colors, size, and shape. This will be important to her, since at her age, she needs to develop in that area, learning about things and being able to describe them, using their physical appearances, in terms of height, color, shape, and size, among others.

Secondly, I will teach my daughter about being kind and friendly to people. This is essential at her developmental stage, because at this stage, she is more outgoing and more open to strangers than the way she was during her former developmental stages. In this stage, she interacts with other children of her age in school and at social events, for instance during our family day out, she gets to meet more children of her age, whom she plays with sometimes. Teaching her to be friendly at this stage will also help her become a social adult, who is kind and good with people.

During our shopping experience, I will also teach my daughter some language skills. For instance, I will teach her new vocabulary, and help her with her grammar. This will also include polite use of language. This will be important to my daughter; since at this stage of development, she is probably, still having a few flaws in her language use, and therefore, more practice will help her catch up faster with her language proficiency.

The fourth skill I will teach my daughter during our shopping experience will be mathematical counting. At this stage, she will probably be in a position to count from one to seven. Therefore, playing with numbers with her, might help her be in a better position to count correctly, and master a few mathematical numbers. Finally, I will teach my daughter healthy eating habits. This will be important for her to learn at an early age about the benefits of eating healthily, and how this influences her physical development. Learning this at an early age will make my daughter grow up into a responsible young adult, who has knowledge about healthy eating.

 

 

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THE CONTROVERSY OF DIVISION OF LABOUR

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23^rd, February, 2013

 

The use of division of labour in factories and work places has been a controversial issue since the historical times. While some managers have considered this an effective way of increasing the productivity in their factories, different scholars have disputed division of labour, citing its negative effects it has on the workers involved. Division of labour is an approach used in completion of tasks. This normally involves the breaking down of a complex task, into many simpler tasks, which are then handled by different workers. These workers work on the parts of the task, which they are specialized in; as these are the tasks, they are assigned.

According to Sabel (1982), division of labour has both positive and negative influences on workers and factories. These effects are both social and economic in nature. The controversy surrounding division of labour in factories has however, been a historical issue. In this paper, I will focus on the works of different scholars, including Adam Smith, Frederick Taylor, Karl Marx, among many others, whose contributions to the concept of division of labour contributes to the controversial debate on the issue. I will compare and contrast their approaches used to address division of labour in factories, and its effects.

Adam Smith first used the term division of labour, in his work, An Inquiry into the Nature and Causes of the Wealth of Nations. According to Adam Smith, division of labor is the process in industries, where the process of manufacturing in these industries is divided into simpler and specific operations that are assigned to particular workers or machines to handle. Smith supported the process of division of labour, citing that this process is capable of more productivity in a factory, compared to those factories that do not employ division of labour in their operations. He also attributes division of labour to the increase of judgment and skill level in workers (Smith 1976).

Although Adam Smith was not responsible for coining the term division of labour, or the first to address the concept, his ideas and thinking on the effects of division of labour had an impact on the other thinkers that came after him, including Karl Marx, and the other contemporary thinkers (Hill 2004). Different thinkers show different perceptions toward division of labour in factories. Some are positive about the process, while others are negative about it. Adam Smith was positive about division of labour in industries. However, he does not focus on the long-term effects of division of labour, as he bases his thinking on the short-term effects of this process, which mainly include personal autonomy and prosperity (Hill 2004). The contribution of Adam Smith to the effects of division of labour remains important today for a variety of reasons. The works of Adam Smith on division of labour mainly focused on the analysis of the benefits of this process, based on its approach of job specialization. Smith argued that division of labour was beneficiary to both factories and workers, as it led to interdependence and boosted independence of workers (Hill 2004).

On the specialization aspect of division of labour, Smith considered this to have grave effects on workers. Although specialization of work in division of labour serves to reduce the quantity of work a worker has to do, Smith identified other effects of specialization, which are detrimental to the worker as a person. First, he argued that when a worker is restricted to only particular aspects of a job, this also restricts their natural inventiveness, since they will not be inventive in other job areas, since they have been restricted to a particular area. Additionally, this impairs the worker’s physical capabilities (Smith 1976). Since a worker is limited to a specific duty, they will be unable to use their physical strength in performing different duties, since they are physically programmed to perform only specific duties. Smith also notes that, specialization through division of labour turned workers into automated machines, as like machines, they only have one line of duty to perform. Overall, the workers’ martial, intellectual, and social capabilities are constrained by the process of division of labour. Smith did not however, recommend any ways of improving this. This is because he believed that specialization was a natural process, which cannot be avoided by humans, but which humans can adapt to (Smith 1976: Hill 2004). This view contradicts Marx’s views on the same.

Smith (1976) also considered division of labour as responsible for propagating some degree of social inequality and exploitation at the work place. When masters are in disputes with their workers, the workers are the less advantaged in such situations. However, Smith believed that in specialization, workers had the opportunity to be their own bosses, therefore, also had the chance to leave work in the factories, and go establish their own factories. This was however, impractical. On the positive, Smith argued that division of labour benefited the system of commercialism, which provides freedom to all people in the society, including the factory workers and poor (Hill 2004). Therefore, Smith believed that anything that enriches a country is of benefit to the poor also. Therefore, since division of labour benefits a country’s system of commercialism, Smith considered it to be of essence in a country, despite the negative effects it has on workers (Lavezzi 2001). From his arguments, it is therefore, eminent that Smith disregards the negative impact of division of labour on individual workers, and views this as an inconvenience of the process, of which the benefits of the process outweighs them.

Karl Marx is popular today because of his ideas and theories, which have become revolutionary in the field of economics and other social sciences. Division labour is part of the production process in a factory. Karl Marx had considered the production process of capitalism to be the root of vast troubles in society. This was beneficial to the rich, and exploitative to the poor, who were also the workers. According to Marx, production in a civilized society ought to occur in a group of individuals, who are workers. These should be involved in the production process, and work on it in a collective manner, whereby they exchange ideas and activities in a mutual manner (Marx 1976). The production process should connect workers and help build relations within themselves. According to Karl Marx, this is part of nature, which should be experienced in the production process too. However, Marx considered the production process in the capitalistic system as dehumanizing and exploitative to the worker. This mainly led to alienation of the workers in society, as they had to work for long hours (Marx 1976: Cox 1998).

The division of labour in the production process of capitalistic systems, according to Karl Marx, did not favor the worker. First, Marx notes that this turned the workers into machine-like objects. This is a view that Marx shares with Smith. Additionally, the working conditions of factory workers during Marx’s era were pathetic. The environment was filthy, and workers were expected to work there for the longest hours (Ricoy 2001). Karl Marx was against division of labour in factories mainly because it did not allow for cooperation among the workers. This way, workers could not work as a group, with processes that are connected. Instead, workers were given particular tasks, which they had to work on individually. Marx thought that cooperation in the production process could result in higher productivity, since workers would take the shortest time possible to complete a task. Similarly, Marx agrees that if the labour process or a task is complicated, it is wise to apportion it into different operations, and these handed or assigned to individual workers. This also shortens the time needed to complete the task. Marx therefore, agrees that a positive factor of division of labour is that it increases productivity in the job (Marx 1976). This is the same factor on which Marx bases to criticize division of labour in factories. According to him, the capitalists, who owned factories, knew this fact about division of labour, that it increases productivity. Capitalists were mainly after making huge profits in their factories and businesses regardless of the working conditions of their workers. According to Karl Marx therefore, division of labour in factories was immoral. This is because the capitalists used this approach in their production process to increase productivity in their factories. They misused their workers, making them poorer, while they themselves grew richer. Despite workers engaging in division of labour, their wages were still low, with long working hours, and poor work environment, yet the factory owners benefited from these desperate situations of factory workers (Marx 1976). Marx and Smith’s views on division of labour exhibit considerable similarities, but overall, while Smith supports division of labour due to its capability of high productivity, Marx is objected to division of labour due to moral reasons, especially considering it is a capitalistic antic to make the poor poorer and fatten the capitalistic systems.

Frederick Taylor (1856-1917), was a political economist in the past, famous today for his work on, “The Principles of Scientific Management.” Here, he addressed aspects of division of labour, and its importance in a factory. Just like Adam Smith, Frederick Taylor exalts division of labour, claiming that this increases efficiency in the work place, as well as making maximum use of the skills and talents of workers. However, these theorists’ ideas are obsolete today, since most tasks in the contemporary world can rarely be split into various operations (Caldari 2007). Taylor was a great supporter of division of labour, and went ahead to advocate  for it. However, he believed that once part of a task is allocated to a worker, the worker must be informed beforehand. “The work of every workman is fully planned out by the management at least one day in advance, and each man receives in most cases complete written instructions, describing in detail the task which he is to accomplish, as well as the means to be used in doing the work” (Taylor 1919, p. 72).

According to Taylor (1919), if division of labour and specialization is increased in a factory, the production process becomes efficient. He also argued that the processes of ensuring efficiency in production could be determined by analyzing the relationship between a task, and the individual worker. For instance, he believed that for more productivity, workers could use bigger shovels, so that they carry more sand (Taylor 1919). Taylor, in his principles of management, highly regarded supervision of the production process in the factory. He emphasized the need for managers to have written rules and procedures for different jobs, which workers should adhere to during the labour process (Taylor 1919). Managers to ensure workers are doing the right thing should do this together with supervision. Only through this could a manager be assured of efficiency in the production process. Additionally, Taylor identified the importance of motivation for workers, however, just like the workers’ wages, rewards and incentives are to be attached to a worker’s work output (Caldari 2007). Finally, Taylor argued that for a worker to be efficient in the work they are assigned, they should have the right skills and abilities to perform the role, in addition to being trained by their managers on how to handle the task in the most appropriate manner (Taylor 1919).

Generally, Taylor considered three most important elements in division of labour and production process. These include management and control, highly specialized jobs, and payment basing on work output (piecework). Scientific management was successful during Taylor’s era, and was adopted by most factories (Taylor 1919). However, soon its weaknesses had a toll on factories, leading to this approach to be ditched. Most critics of scientific management have argued that job specialization leads to monotony and repetitiveness in work, since a worker is presented with the same job procedures daily. This in turn lowers the morale of workers. In addition, this approach required workers to have limited skills, as they did not work on diverse jobs. This therefore, constrained workers’ intellectual capabilities (Caldari 2007). This approach by Taylor views human beings like machines. This does not consider the different needs of workers fully. Instead, the workers are regarded as people with financial needs, which they seek to fulfill. This is why they are paid basing on their work output, and motivation and incentives too based on their work output. Although money is important, Taylor has used it in this context to show that this can motivate workers, make them be satisfied with their jobs, and increase productivity at the work place. This has however, been proven to be wrong, and does not apply in today’s work place wholly. Therefore, although Taylor’s ideas of division of labour in his principles of management have the capability of increasing productivity, these do not put workers into consideration, but benefits the factory owners only. This becomes exploitative to workers (Caldari 2007).

Paul Mason in his book “Live Working or Die Fighting,” has addressed the various changes that the working class has undergone since the historical time up to the present. These have all been brought about by globalization (Mason 2008). By using case examples, he shows how workers in different eras, beginning from the factory workers in the industrial period, adapted to their work environments. These included revolts by workers, such as those in the silk industry in Lyon, France, to demand better salaries and better working conditions. Most recently, workers in Argentina have taken over their work places to avoid being laid-off (Mason 2008). As Smith had argued earlier, workers have the capacity of being their own bosses, if the production process of their factories does not consider them. These are some of the strategies, which workers, in the past and present have taken, to fight exploitative systems of production at their work places (Mason 2008). A similar case is with global bodies, such as, IMF, World Bank, and WTO, which according to Stiglitz (2002), have succeeded in exploiting the countries they serve. This is because of their lack of transparency and accountability. However, Stiglitz (2002) gives an example of China, which refused IMF funds, and South Korea and Malaysia, which showed great resistance to the conditions of IMF. These countries, especially China, compared to others under IMF, are showing great economic capabilities. Braverman (1974) blames the 20^th Century worker for degrading their jobs. According to him, modern workers seem to have sold their labour powers to their managers. Today, the capitalist has been given total control and responsibility over the labour process. This is unlike the past, where workers would fight for their rights to be addressed, even though they were over-exploited (Braverman 1974). Braverman therefore, challenges the modern worker to rise up, and have a voice in the labour process, to avoid the growth of capitalism, which is detrimental to society.

Pollard (1965) notes that the labour process today has changed, and is different from the one in the historic time. This includes management of industries, as today; managers are more knowledgeable about the management system, compared to the past. Perrow (2002), on the other hand argues that today, capitalism has risen, as industrialists have utilized their powers to form bigger corporations. He traces this from the historic factory workers, where modern management roots. Perrow blames factory owners for playing political games, thus exploiting their workers, while they enriched themselves to enlarge their companies. From his argument, it is clear that Perrow is against division of labour, and especially how it was performed in the past in a manner to exploit factory workers.

In conclusion, division of labour is a practice that dates back to factories in historical times. By dividing a task into various operations, division of labour aimed at ensuring efficiency in the production process. This is not a bad thing, since production needs to be efficient. However, this process remains controversial, as different scholars of economics cannot agree or make a major stand, with regard to division of labour. This controversy emanates from the motives of factory owners and managers in introducing this process in their firms. Some scholars have linked division of labour as nurturing capitalism in society, because this leads to high productivity of companies, at the expense of the workers, who are exploited by their employers in terms of wages and poor work conditions. If this process would have been conducted fairly, giving workers their dues, there would not have been much controversy attached to it. However, one disadvantage that would have persisted is how this process limits the physical and intellectual capabilities of workers. Nonetheless, division of labour remains controversial today, even as capitalism continues to rise in society.

 

Works Cited

Braverman, H 1974, Labor and Monopoly Capital: The Degradation of Work in the Twentieth

Century, Monthly Review Press, New Jersey.

Caldari, K 2007, “Alfred Marshall’s Critical Analysis of Scientific Management,” Euro. J. History of Economic Thought 14:1 55 – 78 March 2007. Viewed 23 February 2013 <http://classes.engr.oregonstate.edu/mime/winter2011/ie366-001/Bibliography/Alfred%20Marshall’s%20critical%20analysis%20of%20scientific%20management.pdf>

Cox, J 1998, “An Introduction to Marx’s Theory of Alienation,” International Socialism, quarterly journal of the Socialist Workers Party (Britain), Issue 79. Viewed 23 February 2013 <http://pubs.socialistreviewindex.org.uk/isj79/cox.htm>

Hill, L 2004, Adam Smith, Adam Ferguson and the Division of Labour, School of History and Politics, University of Adelaide, Viewed 23 February 2013 <https://www.adelaide.edu.au/apsa/docs_papers/Others/Hill.pdf>

Lavezzi, A 2001, Division of Labor and Economic Growth: From Adam Smith to Paul Romer and Beyond. University of Pisa. Viewed 23 February 2013 <http://philo.at/wiki_stuff/bw/lavezzi_growth_theory.pdf>

Marx, K 1976, Capital – A Critique of Political Economy Vol. 1, Trans. Ben Fowkes, Penguin Books, London.

Mason, P 2008, Live Working, or Die Fighting: How the Working Class went Global, Vintage, New York.

Perrow, C 2002, Organizing America, Princeton University Press, Princeton.

Pollard, S 1965, The Genesis of Modern Management – A Study of the Industrial Revolution in Great Britain, Edward Arnold Publishers, London.

Ricoy, C 2001, Marx on Division of Labour, Mechanization and Technical Progress. University of Santiago De Compostela. Viewed 23 February 2013 <http://growthbook2.ec.unipi.it/papers/RicoyRevised2.pdf>

Sabel, C 1982, Work and Politics: The Division of Labor in Industry, Cambridge University Press, New York.

Smith, A 1976, An Inquiry into the Nature and Causes of the Wealth of Nations, An Electronic Classics Series Publication, Viewed 23 February 2013 <http://www2.hn.psu.edu/faculty/jmanis/adam-smith/wealth-nations.pdf>

Stiglitz, J 2002, Globalization and its Discontents, W.W. Norton & Company, New York.

Taylor, F 1919, The Principles of Scientific Management, Harper and Brothers Publishers, London.

 

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Clyfford Still Painting

                This painting by Clyfford Still tells a story. The artist used colour and other artistic devices to make this painting beautiful as it is. Different colours have been used in this painting to make it stand out, and bring out whatever theme the painter was trying to express to his audience. Some of the variety of colours used includes shades of blue, maroon colour, green, yellow, and grey. All these have been used on various elements in the painting. These are important, and are used artistically to give meaning to the painting.

This painting, apart from telling a story, draws mixed emotions. First, it is dull. Looking at this painting might make one to experience feelings of sadness, as the colours used, including the contrast, drive one into a sombre mood. The shades of colour blue used are dull. Blue has been used to paint the sky. This is a dull shade of blue. The sky is an important element in a painting, which easily helps an audience read the mood of the painting, and what the artist had in mind while doing the painting. Apart from blue, the sky has also been painted using maroon colour in some parts. The part of the sky painted using maroon appears like flames in the sky. This therefore, signifies some kind of danger or uncertainty to me, since flames are associated with danger or destruction of some sort. The colours used to paint the sky in this painting therefore, have resulted in the creation of an uncertainty in the painting. There is no sign of liveliness or happiness in this painting. If the sky could have been painted with a bright blue, and then it is a clear sky, this could have drawn a different picture in my mind.

Looking at this painting draws considerable uneasiness in the viewer. There is a house in this painting. However, the full dimension of the house is not shown. Additionally, the location of the house is quite unclear. It is either located in front of a small water body or barren land. The shade of blue used to paint the area in front of the house does not clearly bring out whatever lies in that environment. Again, the house is painted with colour maroon. This appears like colour of blood. It is rare to see a red or maroon house today. Therefore, since the artist painted the house with this type of colour, this becomes an unusual sight. Most likely, he wanted to pass some message about the people living in that house, or the nature of households during the period he painted this painting. I can interpret this scenario by concluding that during the period this painting was done, households were not at peace. In addition to the colour of the house, the house itself seems abandoned, is secluded, and the aspect of homeliness cannot be felt by looking at this house. It is some sort of misery.

A closer look at the painting also shows some machinery. I believe this is some kind of a locomotive. There is a man shown standing at the entrance of the locomotive. This man does not look happy. He seems to be in deep thought, and in his own world. He is shown facing the ground. This I believe shows the state of people during the period this painting was done. It seems most people were not happy, and had many things to think about. In addition to this, the machinery shown in the painting looks quite crude. This could mean that this painting was painted in the early days of industrialization, when people had just discovered a different level of technology. This is because; comparing this machinery to modern day machineries shows a big difference between the two.  Nonetheless, the artist made use of different unique artistic elements to come up with this painting, which seems original. However, whatever the case, this painting does not produce a “feel good” view. It shows some kind of a misery and uncertainty.

 

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