Assessment and analysis of a psychology related problem or challenge in Eastman Kodak

Introduction Organizations are usually complex units. They are associated with many issues that have to be carried out in a given manner in order to achieve individual and overall organizational success. Some of the major aspects in organizations include the fixed and current assets and the human resources. Human resource plays a great role in organizations.Advertising We will write a custom essay sample on Assessment and analysis of a psychology related problem or challenge in Eastman Kodak specifically for you for only $16.05 $11/page Learn More They facilitate other aspects in an organization through manipulation to achieve the desired results. Employees performance is affected by various things some of them being physical while others are psychological. For this reason, they ought to be treated in an appropriate manner to enhance performance. This piece of work looks at absenteeism as a psychology related problem in an organization. The organization of study will be Eastman Kodak. Background Information Eastman Kodak is a well known multinational corporation / company in the film and imaging industry. It is an info imaging organization that is based in the United States of America. It has, however, spread its operations far and wide to eight major countries, that is, Germany, Canada, Mexico, France, U.S., Australia, Brazil and the United Kingdom. Its products and services are also marketed by subsidiary companies to people in more than 150 countries. Due to its large size, Eastman Kodak has a large workforce and requires a lot of coordination in order to achieve success. Over the recent past, the company has experienced some problems in the human resource department, an aspect that has raised concern due poor performance by the employees which in turn affects the productivity of the company. The major problem is, however, absenteeism among the workforce which presents the challenge of meeting the employees’ desires for i nstance in regard to work-life balance (Kodak, 2011).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Absenteeism in Eastman Kodak Absenteeism entails the habitual behavior of failing to attend to a duty or obligation. It is a problem that has been there for a long period for as long as organizations have existed. In olden days, absenteeism was taken as a sign of poor personal performance or an extremely bad mistake performed by an employee towards an employer. It was perceived to be a pure management issue. In the recent past, however, absenteeism has been discovered to be a sign that is related to either, medical, social or even psychological problem which is linked to adjustment to work. Absenteeism is generally perceived to be a deviant workplace behavior and thus negative attributions. For this reason, it is subject to social control and it usually results to conflict in the work place (Eggert, 2002). There are various causes or factors that lead to absenteeism among employees. The major factors include lack of job satisfaction and poor treatment where the employees feel unappreciated. Poor working conditions could also result in work place stress which in turn lead to absenteeism due to lack of morale to carry on. Another factor is employees’ poor image on an organization or the way in which employees perceive their organization. Poor organization’s perception among the employees can hinder their performance in terms of work attendance. Other factors include poor management or leadership and lack of self motivation, serious illness and accidents, boredom on the job, personal problems, work stress and poor physical fitness among others (Eggert, 2002). According to the withdrawal model of psychology, absenteeism is a mechanism that represents an employee withdrawal from working conditions that are not satisfying. There is a positive relationship betw een absenteeism and job satisfaction.Advertising We will write a custom essay sample on Assessment and analysis of a psychology related problem or challenge in Eastman Kodak specifically for you for only $16.05 $11/page Learn More Solution to the Psychology Related Problem A high degree of absenteeism in an organization is usually linked to poor morale. Despite the fact that absenteeism is an extremely disturbing issue in organizations and Eastman Kodak in particular, there exist some strategies that should be applied in an effort to get a solution or rather avoid absenteeism. Different parties should play different roles in fighting the problem of absenteeism. Some of the general measures that should be adopted by the management include development and implementation of appropriate absence policies. The policies should have a clear distinction between absences that have genuine reasons and those that are as a result of indiscipline. This will avoid ins tances where employees feel obliged to go to work even when they can not perform, for instance, when sick just to avoid some severe consequences. This could cause greater absenteeism and reduced productivity due to working in poor health. The policies should also offer some guidelines on reporting in advance incase one really can not make it to work. Motivation has a great impact in developing employees’ moods and emotions which may determine the level of their absenteeism. This is because employee feel appreciated and well represented and hence the urge to even work harder to improve their individual performance and thus that of the organization as a whole. According to the expectancy theory of motivation, employees usually tend to work better if they believe that hard work will lead to better performance and that better performance will lead to rewards. Rewards, therefore, reduce the level of absenteeism among the employees (DuBrin, 2008). The element of equity also plays a fundamental role in improving employee’s performance. Employees will be discouraged if they feel that they are being discriminated against.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This may increase the level of absenteeism in the workplace. On the other hand, employees will be satisfied when they believe that their compensation is equal to that given to others who make similar contribution in the organization. An appropriate organizational culture bonds employees together and facilitates realization of organizational goals. This close bond also motivates employees to work towards the realization of an organization’s objectives and goals. This ensures that the level of absenteeism is minimized. Leaders should come up with an organization culture that encourages employees’ attendance in the workplace. Since a culture is difficult to change once engraved in employees’ minds, it is important that the leaders be careful while creating organizational cultures. Strong cultures are associated with innovation, growth and high level of employees’ attendance (Robbins and Judge, 2010). Another effort of dealing with absenteeism is adoption of organizational change to influence behavior. It is a good practice to facilitate necessary changes in an organization in order to promote employee commitment in the work place. In the modern business world, the level of competitiveness of an organization is determined by its ability to handle necessary changes within an organization. The process of change is not always easy. It involves adjustments in an organization which may affect day to day activities. Change is associated with numerous challenges, for example, employee resistance to change. Therefore, the process needs a lot of attention in order to come up with effective changes which will invoke employees’ support rather than resistance. The employees should be fully involved in the changes to develop a sense responsibility in implementing the changes. Good interpersonal skills in an organization are also crucial. Interpersonal skills play a significant role in reducing the level of employee absenteeism. This is both b etween the leaders and employees as well as among employees themselves. Good interpersonal skills promote mutual understanding within an organization. This promotes good relationships among the employees hence enhancing their understanding and job satisfaction. Leaders must take time in communicating with employees to sensitize them on the impact of absenteeism on the performance of the organization. Such interaction will help in developing a sense of responsibility among the employees thus avoid absenteeism. Employee compensation also helps in reducing absenteeism. Compensation is the reward given to employees for the amount of work they have done in a specific time period. Employees could be compensated through various ways. For instance, there is a need to have over time regulation and payment. This will help in compensating employees for working for many hours than expected. This will help in reducing the level of absenteeism in the work place. For example, employees will be enc ouraged to attend to work even if it means working for long hours because they expect compensation at the end of the day. Contrary, employees may fail to report to work in case they expect working overtime without compensation (Aamodt, 2009). Human resource managers can also influence the conduct of the employees in the work place. The managers can control employees in such a way that there is minimal level of absenteeism. This could be through development and compensation of the employees. This helps in motivating the employees. Human resource managers also have an important role in hiring employees. The human resource managers are supposed to carry out a critical examination of the previous performance of the candidates. This will help in detection of the vices like work place absenteeism among the recruits thus assisting in elimination of candidates who have a tendency of absenteeism in the workplace. By so doing, the company will be able to hire only those employees with a good record of job attendance. Employee empowerment is another crucial aspect in reducing the level of absenteeism. Employee empowerment allows making of independent decisions by the employees concerning an organization. This encourages employees to work towards the realization of organizational goals. It creates a sense of identity since employees will have authority to make some decisions in the organization. The employees, therefore, feel valued and become motivated to improve on their productivity. This boosts job satisfaction and thus an improved level of attendance (Aamodt, 2009). Some of the measures that have been taken by Eastman Kodak to avoid the issue of absenteeism among the employees are directed towards establishing a work- life balance so as to foster job satisfaction. They include provision of part time work rather than having employees working on a full time basis, allowing for job sharing to avoid overworking and monotony, compressed work weeks, telecommuting or flex - place arrangements where people could work at the comfort of their home as well as flextime. The policy parameters that exist to allow for success of the above named measures state that in the event of inability to report to work, an employee have to complete an application, get permission from the supervisor and ensure that the arrangement will not affect the organization negatively. All employees regardless of position, terms of employment or geographical location are entitled to ask for any flexible work arrangement. Adequate information regarding the flexible work arrangements should always be made available to all employees. Supervisors and managers were also impacted with relevant knowledge on flexible work arrangement. The flexible work arrangements at Eastman Kodak have proved to be beneficial to both the supervisors and other employees. Effective relationships and communication have been attributed to this success (Workplace Flexibility, 2010). The management should take a positive approach towards solving the problem of absenteeism. The employees should be appreciated, motivated and cared for. Apart from the specific measures that have been undertaken by Eastman Kodak, the above named strategies ought to be incorporated to allow for success in coming up with an absolute solution of absenteeism in the organization. Conclusion Human resources play a significant role in determining the success of an organization. The productivity of other resources used in an organization depends on the human resources. For instance, other resources used in production in an organization like machines significantly depend on the human resource control. Absenteeism affects the employees’ performance negatively. It could be caused by various factors for instance work stress and job dissatisfaction. An organization should invest in all possible strategies aimed at solving the problem of absenteeism to avoid the effects associated with it. Proper working conditions an d motivation should be offered to foster job satisfaction and thus better performance. Reference List Aamodt, G.M. (2009). Industrial/Organizational Psychology: An Applied Approach. 6th Ed. New York: Cengage Learning. DuBrin J. (2008). Essentials of Management. Mason, OH: Cengage Learning. Eggert, M. (2002). The Controlling Absenteeism Pocketbook. UK: Pocketbooks Kodak. (2011). Eastman Kodak Company Equal Opportunity Employment Policy (EOE). Retrieved from https://www.kodak.com/US/en/corp/default.htm Robbins, S. and Judge, T. (2010). Organizational Behavior. New York: Prentice Hall. Workplace Flexibility (2010). Flexible Work Arrangements: Selected Case Studies. Retrieved from http://workplaceflexibility2010.org/images/uploads/FWA_CaseStudies.pdf This essay on Assessment and analysis of a psychology related problem or challenge in Eastman Kodak was written and submitted by user Franco Byers to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

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The erik erikson theory of development Erik Erikson theory of development stipulates the physical, psychological as well as emotional milestones and how they relate to specific developmental tasks in each stage. The personality traits exhibited by individuals are inborn temperament traits while others are learned by a person as he or she develops in regard to the challenges as well as support received in the course of development. Erik Erikson is credited due to the exemplification of the concept of personality development since he believed that the existence of the ego has its roots from birth and behavior exhibited by an individual is not completely defensive (Crandell et al, 2009). Studies advanced by Erik Erikson indicated that the development course of an individual is determined by a three fold interaction between the genetic biological programming of the body, psychological influences as well as ethos or cultural influences. Erik Eriksons developmental theory stipulates eight stages extending from infancy to adulth ood in which different developmental milestones are explained. The first stage from birth to about 18months is referred to as infancy where the Ego development outcome is known as Trust vs. Mistrust. This is the oral sensory stage where major emphasis is laid on the childs mother ability to provide loving care to the child. Through visual contact as well as touch a child is able to trust that life is satisfactory and considerable confidence in the future is achieved. On the contrary, when a child fails to achieve trust and consistent frustrations befall on a person, a deep seated feeling of worthlessness may develop as well as a pronounced mistrust of life in general. Basically during my infancy I was accorded the right treatment which gave me the belief that the world we live in is trustworthy and that every individual has an outmost right to live here. The early childhood stage is from 18 months and extends up to 3 years. The Ego development outcome during this stage refers to Autonomy vs. Shame. The basic strengths which a child ought to develop is will, courage as well as self control. Individuals at this stage learn to master important life skills for themselves. Children not only learn to feed, walk, talk, toilet train but they develop fine motor skills. As the developing child continues to gain control over their bodies through acquisition of new skills and differentiating the right from the wrong, feelings of autonomy and high self esteem are realized. During this period, children largely refuse to undertake the tasks stipulated by the most significant and/ constant caregiver that vital skills of will are developed. However, during this period children tend to be massively vulnerable. This is because children who are unable to learn important skills as well as fail in toilet training experience massive shame and doubt thereby resulting to low self esteem. Relationships with ones parents are very significant. During the Play age from 3 to 5 years a desire to imitate adults is established as well as an inborn want to take the initiative in coming up with ideas during plays. Playing is paramount during this stage as children are involved in playing out roles as well as experimenting in the ideas they believe in. The ego development outcome at this stage is referred to as Initiative vs. Guilt while the basic strength exhibited is purpose. According to Erikson, the child largely struggles with the oedipal struggle as he tries to establish his gender through use of social role identification formalities (Berger, 2004). A child frustrated in regard to natural desires and goals experiences guilty feelings. The school age period between 6 to 12 years is referred to as latency and the ego development outcome attached to it is industry vs. inferiority. The childs ability to learn and acquire new skills as well as knowledge and develop massive accomplishments helps a child develop a sense of industr y. This is a largely social stage during the development where basic strengths of method and competence are made manifest. In case a child experiences inadequacy and inferiority in the midst of his peers competences as well as self esteem problems results. The most important relationships during this period are those found in the school as well as the neighborhood. Gender influences are exhibited during development especially in communication styles, aggression as well as social relationships. Many sociolinguists agree that females largely prefer private talks which are geared towards forming relationships. Since I grew up in an environment with males as all my siblings are boys, my communication was primarily based on report talk with such verbal performances as lecturing information, joking as well as story telling. The kind of plays undertaken by children is based of gender and cultural influences. For instance the boys plays have a leader who directs the course of action and the losers as well as winners are identified. Girls on the other hand girls play in pairs and turn taking is more evident. According to Erikson, the above developmental stages largely depend on what is done to an individual. From adolescence stage which begins from 12 to 18 years, Identity vs. Role confusion is the developmental outcome which seeks to be achieved. Development largely depends on what an individual does. Adolescence is an indeed complex stage in which an individual is neither a child nor adult therefore individuals struggle to forge their identity in social interactions as well as establishing moral issues which to adhere to. Erikson states that individuals are expected to discover who they are. If this is not done adequately, the concerned individuals experience role confusion as well as upheaval. A period known as moratorium is witnessed by individuals who opt to withdraw from responsibilities. Adolescents identify most with their peers and due to lack of experience individuals tend to think in terms of ideals rather than reality hence the reason why massive conflicts are always witnessed during this stage (Berger, 2004). In young adulthood, between 18 and 35 years, the basic strengths t o be achieved are affiliation and love. According to Erikson, during the initial stages of becoming adults, individuals largely seek for love and companionship. Through marriage and establishing friendships, individuals seek to acquire mutually satisfying relationships. Individuals who negotiate through this stage successfully get to experience intimacy at the deepest level possible while those that fail isolation and distance from other people result. In my case, I married in the year 1999 and experienced deep intimacy. The significant relationships are those established with friends as well as marital partners. Middle Adulthood sets in from age 35 to 55 or 65. The ego development outcome involves generativity vs. stagnation. According to Erikson, during this stage individuals are largely occupied with their careers as well as creative works while at the same time involved in family obligations. Individuals expect to be in charge of their affairs. The basic strengths to demonstrate are protection and care. This is achieved through undertaking the significant task of perpetuating culture as well as transmitting values to the lives of the children. The parents should tame their children through providing a stable environment in which the children grow up in. According to Erikson, Generativity is achieved when an individual demonstrates care of other people especially children thereby resulting to production of something which significantly contributes to the betterment of the society (Kail Cavanaugh, 2008). This is the stage where ones children gradually leave home. This move largely results to major life changes thus resulting to mid life crises. Self absorption and stagnation is experienced by people who fail to go through this stage successfully. During this period, relationships which matter the most are those existing in the workplace, family and the community at large. Late adulthood which is witnessed from 55 or 65 years up-to death requires comprehensible demonstration of the vital strength in wisdom. According to Erikson, the ego development outcome at this stage is integrity vs. despair. Since individuals have spent substantial amount of time preparing their lives during middle adulthood, late adulthood presents an opportunity to recover from the challenges of life. As older adults, individuals have an opportunity to look at their lives with happiness as well as contentment. Recognition of the contribution made by an individual in life is what brings satisfaction and Erikson refers to it as integrity (Berk, 2004). Contrary, there are individuals who get to this stage and exhibit feelings of despair owing to the misgivings and perceived failures they have witnessed in their lives. Kohlbergs theory of moral development compares significantly with Eriksons developmental theory since the moral milestones achieved by an individual throughout his lif etime are stipulated. According to Kohlberg, moral reasoning is what determines the ethical behavior to be achieved by an individual. While expanding on Piagets work, Kohlberg established that moral development is primarily concerned with the need to demonstrate justice and continues throughout the life of an individual (Kail Cavanaugh, 2008). Through analyzing moral reasoning displayed by individuals in such cases as Heinz dilemma, Kohlberg managed to classify the actions and morals of various individuals into six distinct stages. The levels advanced by Kohlberg are classified into Pre-conventional, conventional as well as post-conventional with each level having two other stages. The pre-conventional stage is commonly exhibited by children although there are instances when even adults get to associate with this stage. The morality of an action is determined by the direct consequences exhibited by a particular action. Since a child has not fully conceptualized the societal conventions in regard to what actions are right or wrong, he or she focus on the kind or rewards or punishments a particular action is likely to elicit. The obedience and punishment orientation makes an individual to focus on the punishment advanced thus if the punishment is bad, the action is equally bad. This view is largely egocentric. Stage two in pre- conventional level is driven by self interest concerns whereby an individual seeks to determine the benefit he or she will derive from an activity. Thus, concern for other peoples interests is not as a result of respect or loyalty. The conventional level is typically demonstrated by adolescents as well as adults. People who reason in conventional ways base the morality of action in regard to the societal views as well as expectations. Conventional morality thus requires an individual to make a deliberate move to accept the societal conventional in regard to what is right or wrong. Thus an individual follows the stipulated societal laws and guidelines without c onsidering the consequences of the actions. In stage three referred to as interpersonal accord and conformity motivated an individual seeks to fill social roles available in his society thus the emphasis lies in trying to live up to the expectations of the society. Thus stage three reasoning constitutes judging the morality of an action by considering the kind of effect that an individuals relationship will demonstrate. When respect and gratitude sets in, people feel the need to fit in social roles since they want to be liked by other members of society owing to the good behaviors they demonstrate. According to Kohlberg, stage two of conventional morality is authority and social order obedience motivated. The importance of obeying the stipulated laws, social conventions as well as dictums lies in the massive need to maintain a society which is functioning well (Lerner Weiner, 2003). Thus society needs transcend individual approval when making any moral reasoning. It is a central id eal which is present in the society which makes people want to follow the stipulated rules and regulations. Majority of the active members of the society remain in this stage of moral judgment. The post conventional level of moral development is known as the principled level. According to Kohlberg, it is the realization that individuals are separate from society which makes individual perspectives to be considered before making decisions. People in this stage make decisions owing to the abstract personal principles they uphold. In stage one of post conventional level known as social contract driven, the world is considered to hold varied rights, values as well as opinions which must be respected by all people in the society. In this stage, laws are not considered as rigid dictums rather rules are considered as social contracts which need be changed in order to address the good on all people in the society. Various decisions as well as inevitable compromises come into interplay when such actions are being undertaken. The final stage is universal ethical principle motivated and it encompasses abstract reasoning during moral reasoning processes. The validity of laws is based o nly on their ability to uphold justice thus laws without an obligation to justice need be fully disobeyed. Since decisions are not arrived at hypothetically, a completely absolute method need be developed to come up with such conclusions. Kohlberg emphasizes the fact that the individuals, who have reached this level of moral development, put themselves in another persons situation if at all they believed the truth of another persons action (Lerner Weiner, 2003). The consensus which results from such an action is the decision undertaken. Thus individuals act not because an action is legal, instrumental, or expected but rather because the action is right. It is quite difficult to determine individuals who operate in this level. The cultural background of an individual plays a major role in determining the moral milestones achieved during the development process. Since culture encompasses the total communitys social, economic as well as political structures which shape the total outlook of an individual. It is the culture which determines the sensibilities, attitudes, skills as well as dispositions which in turn make an individual morally mature in all spheres of life. In case a cultural setting lays much emphasis on punishment, individuals will primarily remain in the pre- conventional stage of moral authority where actions are determined by the kind of punishment which will be accorded. Differences in sex exhibit different moral development of women and men. Women typically remain at stage three of moral development since they primarily encompass interpersonal feelings during decision making process. Men are largely stationed at stage five and six since they reflect mostly on abstract perceptions of societ al organization during decision making process (Lerner Weiner, 2003). This can be further explained by the fact that women do not undertake their responsibilities in regard to the conventionally accepted norms but rather on their own individual insights in regard to care and responsibilities of their children.

No “More” Socialism: Debunking Raphael Hythlodaeus’ Argument Against Pr

George Orwell, in his famous essay, â€Å"Why Socialists Don’t Believe in Fun,† aptly described the problem of any Utopian ideal. â€Å"It would seem that human beings are not able to describe, nor perhaps to imagine, happiness except in terms of contrast†¦ Nearly all creators of Utopia have resembled the man who has (a) toothache, and therefore thinks happiness consists in not having a toothache. They wanted to produce a perfect society by an endless continuation of something that had only been valuable because it was temporary† (Orwell). In Thomas More’s Utopia, Raphael Hythloday is used as a conduit through which More expresses his distaste with private property. It is striking how true Orwell’s words can be applied to More’s Utopia. More’s criticism of private property is structurally fallible, and his description of an alternative is deeply implausible. Raphael is used to lay out the Utopian alternative economic and civic system, from the common-place â€Å"peasant subsistence economy† of More’s England through his description of the idealist island of Utopia (Overton 4). Raphael’s case against private property is built upon two principle supports; the perceived fallacies and failures in a peasant subsistence capitalistic economy, and how seemingly intuitive the socialistic alternatives of the island of Utopia are in solving the tribulations which so perplex the world’s peasantry. If we analyze Raphael’s argument, we find that it is grossly mis-calculated. The assumptions made in both the construction of Utopia and the deconstruction of England’s economic system are both contradictory and completely over-simplified. With our advantage of economic and historical hindsight we can see that Raphael lays blame without knowledge, and we can se... ... A. Von. Collectivist Economic Planning. London: [s.n.], 1950. Print. Hunt, E. K. History of Economic Thought: A Critical Perspective. Armonk, NY: M.E. Sharpe, 2002. Print. Marx, Karl, Friedrich Engels, David McLellan, and Samuel Moore. The Communist Manifesto. Oxford [u.a.: Oxford UP, 1998. Print. Mill, John Stuart, and W. J. Ashley. Principles of Political Economy, with Some of Their Applications to Social Philosophy. New York: A. M. Kelley, eller, 1965. Print. More, Thomas, and George M. Logan. Utopia: A Revised Translation, Backgrounds, Criticism. New York: W.W. Norton &, 2011. Print. Orwell, George. The Collected Essays, Journalism, and Letters of George Orwell. New York: Harcourt, Brace & World, 1968. Print. Overton, Mark. Agricultural Revolution in England: The Transformation of the Agrarian Economy, 1500-1850. Cambridge: Cambridge UP, 1996. Print.

Innovation and creativity evaluation of Apple Corporation Essay

Economic growth and development of any country depends upon a well-knit financial system. Financial system comprises, a set of sub-systems of financial institutions financial markets, financial instruments and services which help in the formation of capital. Thus a financial system provides a mechanism by which savings are transformed into investments and it can be said that financial system play an significant role in economic growth of the country by mobilizing surplus funds and utilizing them effectively for productive purpose. The financial system is characterized by the presence of integrated, organized and regulated financial markets, and institutions that meet the short term and long term financial needs of both the household and corporate sector. Both financial markets and financial institutions play an important role in the financial system by rendering various financial services to the community. They operate in close combination with each other. Financial System The word â€Å"system†, in the term â€Å"financial system†, implies a set of complex and closely connected or interlined institutions, agents, practices, markets, transactions, claims, and liabilities in the economy. The financial system is concerned about money, credit and finance-the three terms are intimately related yet are somewhat different from each other. Indian financial system consists of financial market, financial instruments and financial intermediation Role/ Functions of Financial System: A financial system performs the following functions: * It serves as a link between savers and investors. It helps in utilizing the mobilized savings of scattered savers in more efficient and effective manner. It channelises flow of saving into productive investment. * It assists in the selection of the projects to be financed and also reviews the performance of such projects periodically. * It provides payment mechanism for exchange of goods and services. * It provides a mechanism for the transfer of resources across geographic boundaries. It provides a   mechanism for managing and controlling the risk involved in mobilizing savings and allocating credit. * It promotes the process of capital formation by bringing together the supply of saving and the demand for investible funds. * It helps in lowering the cost of transaction and increase returns. Reduce cost motives people to save more. * It provides you detailed information to the operators/ players in the market such as individuals, business houses, Governments etc. Components/ Constituents of Indian Financial system: The following are the four main components of Indian Financial system 1. Financial institutions 2. Financial Markets 3. Financial Instruments/Assets/Securities 4. Financial Services. Financial institutions: Financial institutions are the intermediaries who facilitates smooth functioning of the financial system by making investors and borrowers meet. They mobilize savings of the surplus units and allocate them in productive activities promising a better rate of return. Financial institutions also provide services to entities seeking advises on various issues ranging from restructuring to diversification plans. They provide whole range of services to the entities who want to raise funds from the markets elsewhere. Financial institutions act as financial intermediaries because they act as middlemen between savers and borrowers. Were these financial institutions may be of Banking or Non-Banking institutions. Financial Markets: Finance is a prerequisite for modern business and financial institutions play a vital role in economic system. It’s through financial markets the financial system of an economy works. The main functions of financial markets are. To facilitate creation and allocation of credit and liquidity; 2. to serve as intermediaries for mobilization of savings; 3. to assist process of balanced economic growth; 4. to provide financial convenience Financial Instruments Another important constituent of financial system is financial instruments. They represent a claim against the future income and wealth of others. It will be a claim against a person or an institutions, for the payment of the some of the money at a specified future date. Financial Services: Efficiency of emerging financial system largely depends upon the quality and variety of financial services provided by financial intermediaries. The term financial services can be defined as â€Å"activites, benefits and satisfaction connected with sale of money, that offers to users and customers, financial related value†. Pre-reforms Phase Until the early 1990s, the role of the financial system in India was primarily restricted to the function of channeling resources from the surplus to deficit sectors. Whereas the financial system performed this role reasonably well, its operations came to be marked by some serious deficiencies over the years. The banking sector suffered from lack of competition, low capital base, low Productivity and high intermediation cost. After the nationalization of large banks in 1969 and 1980, the Government-owned banks dominated the banking sector. The role of technology was minimal and the quality of service was not given adequate importance. Banks also did not follow proper risk management systems and the prudential standards were weak. All these resulted in poor asset quality and low profitability. Among non-banking financial intermediaries, development finance institutions (DFIs) operated in an over-protected environment with most of the funding coming from assured sources at concessional terms. In the insurance sector, there was little competition. The mutual fund industry also suffered from lack of competition and was dominated for long by one institution, viz. , the Unit Trust of India. Non-banking financial companies (NBFCs) grew rapidly, but there was no regulation of their asset side. Financial markets were characterized by control over pricing of financial assets, barriers to entry, high transaction costs and restrictions on movement of funds/participants between the market segments. This apart from inhibiting the development of the markets also affected their efficiency. Financial Sector Reforms in India It was in this backdrop that wide-ranging financial sector reforms in India were introduced as an integral part of the economic reforms initiated in the early 1990s with a view to improving the macroeconomic performance of the economy. The reforms in the financial sector focused on creating efficient and stable financial institutions and markets. The approach to financial sector reforms in India was one of gradual and non-disruptive progress through a consultative process. The Reserve Bank has been consistently working towards setting an enabling regulatory framework with prompt and effective supervision, development of technological and institutional infrastructure, as well as changing the interface with the market participants through a consultative process. Persistent efforts have been made towards adoption of international benchmarks as appropriate to Indian conditions. While certain changes in the legal infrastructure are yet to be effected, the developments so far have brought the Indian financial system closer to global standards. The reform of the interest regime constitutes an integral part of the financial sector reform. With the onset of financial sector reforms, the interest rate regime has been largely deregulated with a view towards better price discovery and efficient resource allocation. Initially, steps were taken to develop the domestic money market and freeing of the money market rates. The interest rates offered on Government securities were progressively raised so that the Government borrowing could be carried out at market-related rates. In respect of banks, a major effort was undertaken to simplify the administered structure of interest rates. Banks now have sufficient flexibility to decide their deposit and lending rate structures and manage their assets and liabilities accordingly. At present, apart from savings account and NRE deposit on the deposit side and export credit and small loans on the lending side, all other interest rates are deregulated. Indian banking system operated for a long time with high reserve requirements both in the form of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). This was a consequence of the high fiscal deficit and a high degree of monetisation of fiscal deficit. The efforts in the recent period have been to lower both the CRR and SLR. The statutory minimum of 25 per cent for SLR has already been reached, and while the Reserve Bank continues to pursue its medium-term objective of reducing the CRR to the statutory minimum level of 3. 0 per cent, the CRR of SCBs is currently placed at 5. 0 per cent of NDTL. As part of the reforms programme, due attention has been given to diversification of ownership leading to greater market accountability and improved efficiency. Initially, there was infusion of capital by the Government in public sector banks, which was followed by expanding the capital base with equity participation by the private investors. This was followed by a reduction in the Government shareholding in public sector banks to 51 per cent. Consequently, the share of the public sector banks in the aggregate assets of the banking sector has come down from 90 per cent in 1991 to around 75 per cent in2004. With a view to enhancing efficiency and productivity through competition, guidelines were laid down for establishment of new banks in the private sector and the foreign banks have been allowed more liberal entry. Since 1993, twelve new private sector banks have been set up. As a major step towards enhancing competition in the banking sector, foreign direct investment in the private sector banks is now allowed up to 74 per cent, subject to conformity with the guidelines issued from time to time. Conclusion: The Indian financial system has undergone structural transformation over the past decade. The financial sector has acquired strength, efficiency and stability by the combined effect of competition, regulatory measures, and policy environment. While competition, consolidation and convergence have been recognized as the key drivers of the banking sector in the coming years

Informative Speech Hybrid Animals Outline Essays

Informative Speech Hybrid Animals Outline Essays Informative Speech Hybrid Animals Outline Paper Informative Speech Hybrid Animals Outline Paper Essay Topic: Informative Connective (Internal Preview): To start off, I will explain about the types of hybrid animal is, the genetic composition, and the species of animal hybrids. Body Main Points: I. The first type of animal hybrid is avian hybrid. A. Avian hybrids are slightly smaller than normal avian species. 1. Avian hybrids like turkey-chicken hybrids have a smaller and lighter body 2. Their average weight are 5 to 7 pounds (2 to 4 keg). B. Avian hybrid has different fur colors. 1 . Avian hybrids such as turkey-chicken hybrid have black markings in certain fur areas, brownish and lighter color according to their animal parents. C. Avian hybrids can be found only in certain countries. . Avian hybrids can only be found in certain countries like Brazil, Mexico, New Zealand, and Ignited States of America. Connective (Transition): Now that I have told you about what avian hybrid is, I will now proceed to the second types of animal hybrid. II. The second type of animal hybrid is mammalian hybrid. A. Mammalian hybrid are bigger than normal mammalian species. 1. Mammalian hybrid like ligers typically grow larger than humans and their parent species thus making it the largest cats in the world. . Their average weight are 800 to 1200 pounds (363 to 544 keg). B. Mammalian hybrid has different fur colors. 1. Mammalian hybrid like ligers have lighter fur tones on its body. C. Mammalian hybrid can be found in captivity or zoo 1 . Mammalian hybrid can only be found in captivity or zoo because the habitats of the parental species do not overlap in the wild. Connective (Transition): Now that I have told you about the mammal ian hybrids, I will continue to the third type of animal hybrid. Ill. The third and final type of animal hybrid is reptilian hybrid. A. Reptilian hybrid are bigger than normal reptilian species. . Reptilian hybrid such as creators is slightly bigger than their parent species which is gecko. 2. Their average weight are 1. 5 to 3. 2 grams upon hatching. B. Reptilian hybrid has different skin colors. 1 . Reptilian hybrid like creators have darker skin color compare to their parent species. C. Reptilian hybrid can be found in Latin America country 1. Reptilian hybrid can be found in certain places with heavy tropical country like Brazil, Colombia, and the Amazon rainforests. Connective (Transition): I have completed explaining about the types of hybrid animals, now lets proceed to the conclusion. Conclusion l. In conclusion, the hybrid animals cannot live longer because hybridism animals and may not be as genetically strong as naturally evolved region specific wild ancestors wildlife which can survive without human husbandry and have high immunity to natural diseases. II. There are uniqueness about avian hybrid, mammalian hybrid and finally, about the reptilian hybrid as well as their sizes, fur and skin colors, and also where those animals can be found. Ill .

Tomatoes in Californias Economy

Tomatoes in Californias Economy Introduction United States is a leading producer of tomatoes worldwide. In fact the United States is only second to China in terms of global production. Both processed and fresh tomatoes industries in the United States account for more than two billion dollars in earnings. Florida and California are the two leading states in tomato production.Advertising We will write a custom essay sample on Tomatoes in California’s Economy specifically for you for only $16.05 $11/page Learn More The California tomato industry is the bigger of the two. The California tomato industry was at an all time high in the 1980s and the 1990s. After that, the industry started facing a myriad of problems that eventually resulted in its decline. This paper explores the Californian tomato industry and its fundamentals. The paper also focuses on both the positive and negative aspects of the industry. The Fresh Tomato Industry California’s fresh tomato industry accounts for more than a third of the United States’ total production. The commercial acreage of the fresh tomato industry in California is approximately thirty-five thousand acres. Fresh production of tomatoes was at its peak around the 1980s. At that time the commercial acreage stood at around forty thousand acres. Tomatoes are grown in California all year round except during the winter season. California’s fresh tomato industry has had a national market share of twenty five to thirty seven percent since 1980. Tomato supplies from California peak after the spring season. Commercially, California’s fresh tomato market profitability dips from August to September when other markets have locally produced tomatoes. The demand for California’s tomatoes peaks during the colder months. During this time the United States has to rely on supplementary tomatoes from Mexico. Tomatoes from the California region are mostly supplied to supermarkets around the United States. Around seventy percent of this market is in other states. In addition, most fresh tomatoes from California are purchased by domestic consumers. Tomatoes purchased for industrial purposes account for approximately thirty percent of the total production. Prices of fresh tomatoes around California are considerably low compared to those in other states. Average tomato prices factor in the cost of wages, farm inputs, advertising, and land. Over the last two decades, prices of tomatoes in California have stagnated as a result of increased imports and green house production.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More California’s Tomato Processing Economics Tomato farming is subsequently associated with processed products such as tomato sauce and tomato paste. California leads in production of processed tomato products. Its global market share stands at around thirty percent. The ot her large producers of these products include Spain and China. Just like the fresh tomatoes industry, the processing industry flourished around the 1980s and 1990s. This boom was mostly occasioned by high prices, expanded acreage, and higher yielding tomato varieties. Oversupply was the main factor responsible for the decline of this industry. In 2000 economic observers had predicted that the tomato market industry would experience a decline in the subsequent years. One of the leading tomato processors by the name of Tri Valley Growers Limited filed for bankruptcy in that same year. This resulted in a crisis for the many farmers who were suppliers of this company. The tomato processing industry was predicted to decline based on various factors. One of these was the over-supply that had resulted from the ever increasing acreage. In the San Joaquin Valley for instance, tomatoes were virtually the only crop under production. The other factor was the declining domestic consumption that had resulted from increased imports. There was also a case of increased processing capacity. This meant that no produce was wasted irrespective of the level of supply. Eventually this supply overcame demand resulting in an over-supply of processed tomato products. The other reason for this grim prediction was the fact that other markets were seeking to reprise the success of the Californian industry. In turn, the tomato industry in California was facing stiff competition internationally. The Californian tomato industry was originally meant to substitute the cotton industry. By then the cotton industry was seemingly on the decline. In addition, processed tomatoes had substantially higher returns. This enterprise soon flourished with farmers in California proceeding to develop their own processing plants. In the years between 1980 and 2000, tomato growing and processing was a very viable economic venture. This was until the predicted downturn began taking effect around the year 2000. In the last ten years, statistics show that there has not been any tangible growth in this industry. Even in terms of production volumes, the figures still point towards a decline. The global market share previously held by Californian products is slowly being absorbed by Western European countries and China.Advertising We will write a custom essay sample on Tomatoes in California’s Economy specifically for you for only $16.05 $11/page Learn More It is approximated that tomato growing acreage has been declining by an average of three percentage points per year. Volumes of production have also declined considerably. County wise, San Joaquin County leads in production with volumes of forty tons per acre in the last ten years. Fresno and Yolo counties are close contenders with a ten-year average of thirty eight and thirty six tons per acre respectively. The reasons for this stagnated processing industry were covered earlier. To cope with this decline bo th private and farmer-owned industries have built larger and more efficient plants. This move has reduced processing costs and ensured production of a higher quality tomato paste. Since 2000 most factories have focused on building their processing capacity. Processing plants are mostly built to support a specific acreage. It is for this reason that some experts have argued that the reason for the decreasing acreage is because no new processing plants have been built to support new acreage. It is therefore assumed that additional processing plants would stimulate an increase in acreage. Currently the processing capacity of the industry in California stands at around eleven million tons per season. The domestic tomato processing industry is on its part showing signs of improvement from the decline occasioned in the last decade. Currently, the household per capita consumption of tomato products is approximately seventy five pounds. This is a very high rate when it is compared to other developed countries. There are no readily available statistics of consumption rates of other processed tomato products. Therefore, there is no way of finding out the consumption rates of individual products like pastes, sauces, catsup, juices, among others. Tomato production in California is mostly forward contracted. There is a bargaining association that represents a majority of the farmers in California. This association is known as CTGA- California Tomato Growers Association and it negotiates independently with processors. For this reason, most farmers in California receive approximately the same prices for their tomatoes. Consequently, the price of tomatoes in California has remained constant over the last decade. This is different from other vegetables that have been characterized by fluctuating prices. This trend is mostly as a result of contracting. It also serves as an indicator of the fact that contracting stabilizes prices over a long period of time.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More United States is both an exporter and an importer of processed tomato products. Statistics of this intra-industry trade show that the United State’s net exports have risen in the last few years. In the 2010- 2011 season, exports of processed tomato products were slightly less than one ton. These figures indicate that only about ten percent of tomatoes grown in the United States end up being exported. The two main export destinations of processed tomato products are Mexico and Canada. These two countries combined purchase about sixty percent of the total United States exports. Japan has also been another export destination. However, this market has recently been facing stiff competition from China. Despite the tough competition in the global front, California’s tomato industry has remained a formidable force. Observers had predicted that China would displace California in the global market. However, over the last decade California’s global market share has remain ed constant. Economically, China has performed better by managing to double its processing capacity over the same period. In addition, China’s acreage has managed to increase by around thirty percent. The main reason for this turn of events is the fact that California has been able to maintain its domestic market share. This share accounts for about ninety percent of California’s total production. Industry experts are still wary of China’s rise. Most predictors are afraid that China may flood the global market with tomato paste in the near future. Conclusion This paper has explored the basic economic aspects of tomato growing and processing in California. It can therefore be concluded that this industry is mainly dependent on domestic consumption. This means global market shocks have not affected the industry in a major way. China still remains the biggest competitor to California’s products on the global front. In addition, the secret of the industryâ₠¬â„¢s growth is an increase in export capacity.

To What Extent Does Personality Predict Employee Performance Essay

To What Extent Does Personality Predict Employee Performance - Essay Example This research will begin with the statement that the identification of the potentials of employees to respond to the demands of their role can be characterized as one of the most critical challenges for managers in modern organizations. Moreover, it has been proved that employee performance can be depended on various factors; securing high employee performance can be a difficult task even for highly experienced HR managers. The literature developed in regard to this subject verifies the intervention of personality in the prediction of employee performance. However, the terms of involvement of personality in the prediction of employee performance are not standardized, being influenced by the organizational environment and the psychological characteristics of individuals, as analyzed below. In any case, the value of personality as a means for predicting the performance of individuals in the workplace cannot be doubted. In fact, the research developed in this field proved that personali ty is a strong indicator of an individual’s behavior in all aspects of his daily life, no matter his economic or social status. In regard to the above, the following issue should be also explored: is the prediction of employee performance using personality fully accurate or not and how the relevant risks can be limited? Personality, as a concept, refers to various aspects of human behavior. In practice, it has been proved that the personality characteristics, or else traits, of individuals, are likely to be incorporated into five, major, categories. The relevant model of personality is known as the ‘Five Factor model’. The categories of the particular model are presented in the paper. Different explanations have been given in the literature in regard to the involvement of personality in employee performance. The Big Five model, as presented above, can be used for measuring employee performance, both in regard to specific individuals and in regard to groups. In th e last case, the personality characteristics/ traits of each group’s individuals would be ‘gathered and evaluated as a total for identifying the group’s performance’.

Corporate Frauds and Absence of Ethical Demeanor Essay

Corporate Frauds and Absence of Ethical Demeanor - Essay Example As per Trevino and Weaver (2003), ethical culture is one which rouses ethical demeanor. Ethical leadership involves proper demeanor through interpersonal relationships and personal actions and the advocating such demeanors to subordinates, mainly through two-way communication, decision-making and reinforcement As per Martin and Cullen (2006), ethical climate in an organization refers to normative systems of organizational work climate mirroring the organization’s policies, procedures, and practices with moral outcomes. As per Victor and Cullen (1988), ethical work climate refers to the organizational procedures and practices that direct the decision-making of organization and the systematic outcomes to ethical dilemmas. The ethical climate is one of the main ingredients of the culture of an organization. Ethical climate plays a dominant role when fraud is observed in an organization. As per Shin (2012), CEOs’ ethical demeanor is directly associated with employeesâ€℠¢ overall view of the ethical atmosphere of the organization (Soltani, 2014, p.254). Enron on October 16, 2001, published figures that exposed conspicuous accounting malpractices. One of the questionable accounting practices followed by the Enron was that is improper accounting of a note receivable from Enron’s equity partners in different limited partnerships. WorldCom also indulged in one of the largest corporate accounting scandals in the US which were projected at $14 billion as of March 2004. SEC alleged that WorldCom purportedly exaggerated its† revenue before interest, taxes, depreciation, and amortization (EBITDA)† in 2001 and in 2002 (SEC Annual Report 2002). HealthSouth Corporation of USA ordered the accounting personnel’ of the company to inflate the revenue to match the Wall Street analyst’ projections (Soltani, 2014, p.262).