Forecasting the Future of the US Economy Over the Next Year Research Paper

Forecasting the Future of the US Economy Over the Next Year - Research Paper Example However, the recovery of the U.S. has been expected to carry on, albeit at the sluggish pace (Elwell, 21). This paper is aimed at providing forecasts on the future of the US economic variables. Effects on economic variables: The level of inflation has been very high since 2007. This high level of inflation is now considered as the biggest problem in the country by the Fed. Due to this high level of inflation, consumers are not getting capable of purchasing costliest goods and services and hence business organisations which are engaged in production of these goods and services are leaving the industry. Again this is reducing the level of income in the country and hence the level of demand for necessary goods and service. The Fed is expecting to have a subdued in the next few years because of weaker level of real economic activities prevailing in the country. But the Fed is expecting to have a lower level of inflation rate in 2013 which is expected to increase the volume of economic ac tivities in the country. The Fed is expecting that the current rate of change in overall prices is expected to fall to 1% to 2% from its current level of 3% within five years. But the Fed is expecting that the rate of inflation will remain unresponsive in newt few years due to the fact the American economy is still under the curse of financial and economic crises situations (Minutes of the Federal Open Market Committee, 1). The Federal Reserve or Fed, in short, holds a very positive view regarding the current economic activities and the current condition of the financial market of the country. The chairman of the Fed, Dr. Ben S. Bernanke, has argued that after the global financial crisis of 2007-08, the American economy is experiencing greater volume of economic activities (Bernanke, 1). The IMF predicts the value of real GDP in the US to rise at 1.5% in 2011 (which is lower by1.0 percentage points than that of in June 2011 prediction) and at 1.8% in 2012 (which is lower by 1.1% tha n the June 2011 prediction) (Elwell, 21). The Open Market Committee of the Federal Reserve predicts the real GDP in the year 2012 to exist in the range of between 2.3% and 3.5% (the growth prediction for the year 2012 almost about 0.5 percentage points lower than that has been made in the June 2011). Also according to the Fed predictions the rate of unemployment is estimated to be in the range between 8.1% and 8.9% in the year 2013 (Fiscal Year 2013: Analytical Perspective: Budget of the U.S. Government, 19). Global Insight, which is a renowned economic forecasting private company, has recently predicted that the real GDP in the US will advance 1.4% by the end of 2012 (lower by 1.3 percentage points compared to its June 2011 estimation). The rate of unemployment in the country has been estimated to be around 9.3% in the year 2012 and 2013 (Elwell, 21). The level of FDI in the country is not expected to grow at much rapid speed compared to the past. In the global increasing in the am ount of FDI inflow to $1.4–$1.6 trillion in the year 2013, the US inflow of FDI is predicted to move in the range of $245 to $255 billion in 2013 (GLOBAL INVESTMENT TRENDS, 17). Again, it is expected by the researchers that the rate of interest will remain comparatively low as well as stable in the next year following the rapid growth of developing countries. This increasing growth of countries such as India and China will increase the volume of trade in favor of USA. Also the corporate bonds and

Strategic hr management Essay Example | Topics and Well Written Essays - 750 words

Strategic hr management - Essay Example Taking the strategic approach to HRM obligates one to manage the practices of personnel management and focus more on the operational issues. The HRM team focuses on building a strong corporate culture that translate the company’s objectives into a specific and easy strategy (Mello 2011, p156). To support the needs of the General Electric, the newly hired HR professionals attended Human Resources Leadership Program (HRLP) (Mello 2011, 157). The main purpose of this conference was to equip the newly hired HR professional with adequate skills that would help the company achieve its set goals and objectives. Based on this analysis, it is evident that taking a strategic to Human Resource Management involves focusing on strategic issues affecting the company. It obliges one to have adequate skills to fully understand how to foster effective leadership that augment growth and increases productivity. Training is important as it helps HRs to handle strategic issues effectively that aff ect the company. 2. Explain the 4 roles that characterize strategic H.R.M. in terms of what it delivers to its internal customers. First, a HR should become a partner in strategy execution. He should be responsible for the organizational structure and its culture. To ensure that the organization is growing at a high rate, the HR should conduct an organizational audit to assist managers identify areas that need improvement and change (Mello 2011, p158). Secondly, it is the responsibility of the HR to identify methods for renovating success in the organization. In this case, a strategic H.R.M ensures that the organization operates effectively and delivers quality products and services to its internal customers. Thirdly, the strategic role of H.RM should be to strengthen the employee and employer relationship. Human resources managers should formulate a workforce strategy that highlights the organizational goals that need to be met (Fegley & Society for Human Resource Management (U.S.) , 2006).   Lastly, it is important to create a work environment that is free from hazards. The strategic development of the workplace safety obliges the need to conduct risk management and mitigate potential losses that may emerge in the workplace. The H.R.M. should work hard to increase employees’ satisfaction as this directly affects how they relate with clients. Satisfied and competent employees always look forward to serve clients with passion. Therefore, it is paramount for the H.R.M. to build a strong workforce that understands the importance of meeting customers’ needs. In this context, it is vital to create a strong corporate culture that focuses on the importance of satisfying internal customers. The H.R.M. should look forward to convert its first time clients to frequent and potential clients. This should motivate employees to work hard and give out the best services that attract a wide number of clients. It should lay a strong foundation for employees to a chieve the set goals and objectives. 3. Name and describe each of the 4 roles HR must play in a knowledge-based economy in order to build strategic credibility. A HR must be a relationship builder. He should develop

Discuss the History of Korea and Its Impact on Korea Essay Example for Free

Discuss the History of Korea and Its Impact on Korea Essay Topic: Discuss the history of Korea and its impact on Koreas culture, politics and business. Korea is a civilization and formerly unified nation currently divided into two states. Korean civilization is one of the oldest ancient civilizations in world history, and Korea has the oldest history in East Asia. * GoJoseon (National foundation in BC 2333) The first Korean kingdom GoJoseon was established on a flourishing bronze culture in BC 2333 by Dangun who was the legendary founder of Go]eseon and people believed he was the grandson of heaven (Edward 2005). It was centered in the basins of Liao China) and Northern part of the Korean Peninsula. Politics and economy In Korean history, GoJoseon was the first state to unify its political and religious functions within one governing system and legal system as represented by its Eight Prohibitions (Edward 2005). Society It is believed that GoJoseon had achieved the status of a kingdom with a class-based society. * Three Kingdoms penod ( BC 18 AD 676) Town-states gradually united into tribal leagues with complex political structures which eventually grew into kingdoms. Koguryo (BC 37 AD 668) Koguryo was the first to mature into a kingdom. Koguryds aggressive troops onquered neighboring tribes one after another, and in 313, they even occupied Chinas Lolang outposts (Qiancheng 2009). paekje (BC 18 AD 660) PaekJe, which grew out of a town-state located south of the Han River in the surroundings of present-day Seoul(Capital city of South Korea), was another contederate kingdom similar to Koguryo deane 2 Shilla (BC 57 AD 935) Shilla was the weakest and most underdeveloped among three kingdoms at the beginning. However, because it was geographically removed from Chinese influence, it was more open to non-Chinese practices and ideas. The society was built on an advanced Buddhist in Shilla (Edward 2005). unified Shilla (676-918) By the mid-sixth century, the Shilla kingdom had brought under its control all of surrounding town-states within the Gaya confederation. Through an alliance with China, Shilla finally unified the Korean peninsula in 668 and saw the peak of its power and prosperity in the mid-eighth century. It attempted to build an ideal Buddhist country during Unified Shilla but Buddhist social order started to deteriorate as the nobility indulged in increasing luxury (Kim 2005). Hwarang-do (Flower-knight art) in Unified Shilla It is culturally important to Korea and Taekwondo which is well known Korean martial arts in the world. It was a military academy for young, aristocratic youth in Unified Shilla. They intimated with nature and studied poetry, art, literature and song, as well as martial arts. Confucianism and Taoism also were very influential to Hwarang-do. The Hwarang-dds ethics and legends of this knighthood helped form the ethical background of taekwondo (Theodore 2005). * Koryo penod ( 918 1392) Internal dissensions and external problems of Shilla between the king and regional leaders led to the disruption of Shilla. The name Koryo derives from Koguryd and it is the root of the modern name of Korea. The Koryo period from 935 to 1392 was arked by periodic internal disharmony and external wars (mostly defensive) with China and Japan. And also Koryo was invaded by the Mongols in 1231 and Mongols nearly destroyed Koryo. However, there were also great achievements which are flowering of culture that led to great advances in art and scholarship, particularly in the ceramics industry, which developed the unique grey-green celadon stoneware for which Korea is well-known today (Thomas 2003). * Chosun Dynasty (1392 1910) In 1392, a general Yi Seong-gye founded a new dynasty Chosun. In the early Chosun period, Confucianism was highly supported as the guideline of philosophy. And then, this Confucianism transformed into Neo-confucianism incorporating Taoist and Buddhist elements with and adaptation of Confucianism. Neo-confucianism is what people know as Korean culture and tradition today (Thomas 2 From 1418 to 1450, by Chosuns fourth monarch king SeJong, Korea had an unprecedented flowering of art and culture. The greatest achievement of king SeJong was invention of the Korean alphabet Hangeul. Before he invented the Korean alphabet, Korean used Chinese character (Theodore 2005). In 1 592, Toyotomi Hideyosi, who united Japan, wanted to conquer the Korean Peninsula and use it the way for its incursion into China. However, Japan was defeated by Admiral Yi sun-sin, one of the most respected fgures in Korean history. They invaded again in 1597 but they withdrew in 1598. The new religion, Catholicism, slowly spread in Korea since 18th century by Dutch Jesuit priest. In the 19th century of Chosun, they adopted an isolationist policy by the prince Taewongun because he was afraid that Chosun would be infected by western ideas. Therefore, he tried to prevent the opening of the country to foreign trade by closing the borders (Edward 2005). * Korea under Japanese Rule (1910†1945) During Japanese occupation, the first thing they did was construction of Koreas nfrastructure especially street and railroad system to control all over Korea easily and supply food for Japanese military properly. Japanese ruled with iron hand and tried to root out all elements of Korean culture from society.

Potential Appraisal for Career Development

Potential Appraisal for Career Development Go to the library or search on internet and gather the information on following topics: Potential Appraisal Career Development Analyze the relationship between them, and explain how potential appraisal help employee in career development. Summarize all the points in writing and also prepare for group discussion in the class. The potential appraisal refers to the evaluation i.e. understanding of the hidden talents and skills of a person. The individual might or might not be aware of them. Potential appraisal is a future oriented appraisal whose main goal is to identify and evaluate the potential of the employees to achieve higher positions and responsibilities in the organizational hierarchy. On the other words, Potential appraisal helps to determine what can happen in the future so that it can be guided and directed towards the performance of individual and organizational development and goals. Therefore, many organizations assess and manage potential appraisal as a part of the performance appraisal processes. Moreover, the role of potential appraisal is to determine the potential of a given workers to occupy higher positions in the organizational hierarchy plus handle higher responsibilities. Potential appraisals are required to: Inform employees about their future prospects; Help the company check out of a appropriate succession plan; Update training efforts from time to time; Advisee employees about what they must learn to develop their career prospects. Potential appraisal can perform the following purposes: To advise employees about their overall career development and future prospects Help the company to chalk out succession plans Motivate the employees to further enhance their skills and competencies. To identify the training needs. Techniques of potential appraisal: Self appraisals Peer appraisals Superior appraisals Psychological and psychometric tests Management games like role playing Leadership exercises etc. Introducing a enormous Potential Appraisal System The following are some of the steps needed to be followed at the time introducing a potential appraisal system: Role Descriptions: Organizational functions along with functions should be defined simply. To this end, job descriptions should be prepared for each job. Qualities required completing the functions: Based on job descriptions, the functions to be played via individuals must be prepared (i.e., technical, managerial jobs as well as behavioral dimensions). Rating mechanisms: Besides listing the functions along with qualities, the potential appraisal process must provide mechanisms of judging the qualities of staffs as: Rating through others: The potential of a candidate might be rated by the current employer who is acquainted with the candidates work earlier, just his technical abilities. Tests: Managerial as well as behavioral dimensions can be measured via a battery of psychological tests. Games: Simulation games in addition to exercises (assessment centre, besides business games, in-basket, along with role play, etc.) could be used to display the potential of a nominated staff. Records: Performance records along with ratings of a nominated staff for his earlier jobs could be examined carefully on various dimensions such as motivation, creativity, besides risk taking ability, etc., which may play a vital concern in discharging his responsibilities in a new job. Organizing the system: After completing the earlier preliminaries, he should set up a way that will allow the introduction of the time quietly giving answers to specific puzzling questions: How much load time to assist in conditions of seniority in promotions? How much weight age to each of the performance dimensions; such as technical, besides managerial, in addition to behavioral qualities? What would be the mechanisms of assessing the body on different indicators of his potential and via what reliability? Feedback: The system should provide an option for every employee to see the works of his assessment. He might be assisted to understand the qualities most needed for performing the purpose for which he thinks he gets the potential, the mechanisms utilized through the companies to evaluate his potential along with the results of such an appraisal.

Essay --

The Jazz Age was a movement that began during the early 1920s, which jazz music and dance came about with the establishment of mainstream radio and the end of the World War I. Also known as the Roaring Twenties, the period of American prosperity and economy in growth and symbolized not only a dynamic change in music, but also the daily life of Americans. â€Å"The American people had long parties complete with flappers, speakeasies, illegal bathtub gin, and young people doing the Charleston long into the night (Nash, 677).† Culturally and socially, the Roaring Twenties was a time of fast change, creative innovation, and high-society antics. New technologies, soaring business profits, and higher wages allowed more and more Americans to purchase a wide range of consumer goods. Prosperity also provided Americans with more leisure time, and as play soon became the national pastime, literature, film, and music caught up to document the times. The jazz age was developing rapidly and it started to create conflict between the American people. First of all, the 1920s was a decade of social and cultural change. The American people started working on the economic growth which brought change into their lives. One of the major changes in the jazz age was the living style of Americans. There were changes such as gender roles, new styles and lots of entertainment during the 1920s. Furthermore, the Nineteenth Amendment granted American women the right to vote. This meant that women can now work and gain financial independence. The change had brought many opportunities for women and they gained social freedom. One of the major styles was the flapper’s fashion for women. â€Å"The term "flapper" first appeared in Great Britain after World War I. It was ther... ...nd brought change into their lives. In conclusion, the 1920s may seem to be a golden age of flappers, bootleg gin, constant parties, literary masterpieces, sports heroes, and east wealth. However the truth is much more complicated. More than most decades the 1920s was a time of paradox and contradictions. It was a time of prosperity, yet a great many people, including farmers, blacks, and other ordinary Americans, did not prosper. It was a time of progress, when almost every year saw new technological breakthrough, but it was also a decade of hate and violence. It was a time of rapid change, but violence was taking over many things that the people believed it was their right to speak out and fight for freedom. It was hard times for the African Americans because if racial issues and the birth of the second Ku Klux Klan made life difficult for the African Americans.

Moral and motivation report - Working with people in teams. Essay

Moral and motivation report - Working with people in teams. TERMS OF REFERENCE ================== I Amanda Robinson, Assistant Personnel Manager with James Watt Hotel, have been asked by the Personnel Manager to submit a report on the subject of Moral and Motivation within the organisation. This report is a result of problems that have been highlighted by a preliminary survey conducted by an independent body. Report to be submitted by 28 January 2003. PROCEDURE After studying the preliminary report I spent 2 weeks researching the problem of Moral and Motivation within the hotel. My research took the form of observations and face-to-face interviews. Also researched were the personnel records of staff within the hotel. My observations gave me insight into how staff interacted with each other, management and our customers. Face- to- face interviews randomly selected from various departments within the hotel gave me great insight into more detailed problems and grievances felt by a number of staff. My reasoning for researching personnel records was to collect information on indicators of low moral such as level of absenteeism, level of grievances, incidence of complaints and the high level of staff turnover. FINDINGS The following problems have been identified from the preliminary survey conducted by an independent body. * Staff believe they are overworked. * Staff believe pay is low. * Staff believe promotion prospects are poor. * Staff believe little/no training is given. * Staff believe they are not encouraged to air grievances. * Staff perceive a "them and us" attitude between them and management. * Staff believe communications are very formal. * Staff are concerned that they are not consulted when new investments/equipment is ordered. * An analysis of customer complaints suggests "unpleasant atmosphere" "miserable staff" and "poor service" throughout the hotel. The survey also revealed a wide cross-section of managerial styles. Some members of management were only concerned about getting work completed, with no regard to the welfare of employees, some were concerned with only the welfare of employees with no concern for the standard of work, and then a few were neither concerned for the employees or the standard of work. After spending 2 weeks conducting my own rese... ...peak at length. It helps employees to unload problems and it's believed that the employee benefits psychologically. Outside agencies should be used to give the interviews to eliminate interviewer bias. EXIT INTERVIEWS- This is given when an employee is leaving the organisation. This benefits the organisation as they receive a more honest reply as the leaving employees feels he can speak more easily. This can provide essential information on moral and motivation problems throughout the hotel. CONCLUSION Simply by making a few adjustment in our working procedures can have great impact on others. Simply by saying please and thank you can lift a person's spirits. At the end of the day the loser is the hotel, as customers just wont return. It is vital to remember that all changes must be on going and monitored to judge their effectiveness. Remember that a happy customer will tell only 3 people, whereas an unhappy customer will tell nine other people. For the continued success of this organisation we cannot ignore these problems. For clarity on any aspect of this report please do hesitate to contact myself, Amanda Robinson, Assistant Personnel Manager, ext 1888

Balancing School Essay

The biggest challenge for many of us is how to balance our studies, work and family demands. While we want happy fulfilling lives outside of family, work and school, we have to make personal sacrifices in order to be successful in life. Since time is precious, keeping a balance between three worlds can be a challenge. Fortunately, with proper planning, balance is possible. Every day, I have to make choices and manage my time incredibly well in order to be able to balance my online studies, my work and family demands. In my opinion family demands, work and studies balance are a process, not a static achievement. So, it is important to make the decisions selecting careers and jobs, timing children, allocating roles and responsibilities etc, that will provide the opportunity for balance. The real task of balance takes place on a weekly and daily basis, even from hour to hour . To help me balance and organize my studies, work and family demands, I bought a daily planner. The daily planner comes in very handy and I would recommend it for everyone to use it. It is very practical, its small so you carry it everywhere you go. It helps you organize your daily life, write down assignments and manage your time. Many people do not have the time to go to a classroom when you have a job and a family to spend time with. It can be very challenging when you have to work and take care of your family while you try to go to school. Penn Foster is a good decision that I have made when deciding which school to attend because it is online and the classes are self pace. The field that I have chosen is Paralegal because the job availability is high and the pay is good also. I feel that in this field I will be able to take care of my family a whole lot better and make everything easier for me and my family. I feel that the decision I have made is the right one. My family and friends help me maintain a positive attitude when I get discourage or overwhelmed. I have learned to prioritize things in my life and that helps me achieve my goals. Always plan ahead. First, the most important thing is to use your time wisely. Figure out how you typically spend your day. Make a list of time commitments that cannot be changed. Then, figure out how you spend your unscheduled time. It is important to include all the shifts and upcoming assignments and exams in the schedule. I use Microsoft Outlook calendar for time planning. It is user friendly and a convenient tool for time management. Accurate scheduling helps me to manage time efficiently whereby freeing up time to spend with my family. The first step to achieving balance in your time is to get your family to agree on what the priorities should be. Make them understand that studying often requires long hours. In these instances, support from your family has to be there. Additionally, when children are involved; you may have to re-balance your time so you have time to spend with children. Plan on having a little family time every day and schedule some special family event once a week. So you see balancing work, studies and family can be a challenging but if you put your mind to it you can to it.