Adam Smiths Contribution to Classical Political Economy

Adam Smiths Contribution to Classical Political Economy Assess the contribution of Adam Smith to the tradition of Classical Political Economy Important Assignment Related Notices Penalties: University policy requires that a penalty be deducted from the actual mark achieved for each working day the assignment is late until 0 is reached. There is a strict deadline of 11:59pm on day of submission. One grade step will be deducted for very 11:59pm deadline that is missed. Any written assessment that exceeds the stated word limit by more than 10% will receive a one grade step mark deduction. Extensions Plagiarism Information: For more information about extensions and plagiarism please refer to your One Stop Shop course. An Originality Report (OR) is generated by Turnitin every time a piece of work is submitted. The OR shows where matches have been found between the submitted document and other existing sources in the Turnitin database. 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It is College policy that staff will not be actively engaging in debate over matters of feedback and grades with individual students via Canvas’ online Speed Grader system. Assignment Grade: 100 98 93 88 85 83 78 75 73 68 65 63 58 55 53 48 45 43 38 33 28 23 18 13 8 3 0 Admin Note: Marker please a) highlight or box the grade from the above Grade Mark Steps that this assignment has achieved and b) insert the same % into the grade box in the right hand column of Canvas Speedgrader. Feedback Overview of submission (Definition of question, integration of theoretical and empirical material where appropriate, engagement with relevant themes and issues, engagement with relevant academic literature) Quality of research and analysis (Clarity and depth of argument, scope of argument, originality of approach, range of sources used, critical use of sources) Evidence of key skills (Structure, clarity of expression, proper referencing and accompanying bibliography, formatting, evidence of sustained research) Potential areas for improvement (How could a future submission be enhanced?) Assess the contribution of Adam Smith to the tradition of Classical Political Economy Introduction Adam Smith’s contribution to the tradition of classical political economy was hugely influential. This essay will discuss two of his major theories outlined in the Wealth of Nations; the division of labour and then the invisible hand, whilst briefly touching upon Smith’s view on the role of the state and the free-market. Smith was a moral philosopher from the late 18th Century and wrote; â€Å"An Inquiry into the Nature and Causes of the Wealth of Nations† in 1776, to critique the political-economic system of the time; mercantilism. This was an economic theory and practice that encouraged imperialism and state intervention into the allocation of scarce resources. Smith was writing at the outset of the Industrial Revolution when the world was changing. In the Wealth of Nations, Smith proposed many revolutionary economic theories including; the division of labour, the labour theory of value, the role of the state in an economy and the invisible hand among others, which he thought would build a nations’ wealth. Classical political economy is a group of theories that developed in the 17th – 19th Century to try and understand society on the basis of its economic foundation. Smith viewed political economy as a branch of science of statesmen, aimed at providing its citizens with plentiful revenue or subsistence and sufficient revenue for state for public service. It proposed to enrich both the people and the sovereign. (Smith, 2008, p. 275; Burnham, P., 2014, A). Smith believed that society should be market-based, which he believed were characterised by the three factors of production; land, labour and capital. These factors of production produce three classes within society: landowners, capital owners and labour. Each clas s receives revenue, and all are independent of each other. Smith’s main point in the Wealth of Nations was that all classes could gain from an increase in the scope of the market; anything that impedes the free-market is a problem (Burnham, P., 2014, B). Discussion One of Smith’s key theories, proposed in the Wealth of Nations, was that of the division of labour. This refers to the separation of different parts of the production process according to the worker’s ability and/or the worker’s equipment. Smith believed that the benefits were clear; it enhanced the production process leading to a more efficient use of scarce resources as well as lowering the cost of production (Smith, 2008, Book I, ch.1). Furthermore, Smith strongly believed that the division of labour greatly increased the quantity a worker and/or firm could produce. The results of dividing labour are; the increase in the skill of the worker; reduced time loss upon switching production process, and the invention of machines which aids workers and enables one man to do the work of many. By reducing the worker’s part of the production process to one, simpler operation performed solely by the worker, this increases the worker’s skill and performance. As no worker needs to change task, more time can be dedicated to the production process. The specialisation of workers would enable firms to employ machinery, thus producing more goods more efficiently compared to human capital, reducing the number of workers required to make a certain quantity of goods, and therefore reducing the cost of production (Smith, 2008, pp.15-17). In the 18th Century when The Wealth of Nations was published, factory owners adopted his principle of people specialising in particular jobs as shown in his example of the pin-maker. This principle of specialisation has continued to modern industrial occupations, such as car manufacturing. However, Smith believed that the division of labour was limited by the extent of the market. For example, if the market is so small that a worker cannot sell their produce of labour efficiently, the worker will make losses, and so, on this basis, may work in an industry for which they are not skilled in. Smith argued that division of labour will only take place when the population is large, that will create enough demand for specialised services (Smith, 2008, Book I, ch. 3). Karl Marx disagreed with Smith’s theory, as he believed that specialisation would lead to the alienation of workers as the work becomes repetitive and reduces the value of the worker from a human being to that of a machine (Marx, 1988, p.72). In addition when work becomes more specialised, less training is required for each job, and so, the individual workers become less skilled than if one worker performed the whole task (Marx, 1999, p.119). Smith also critiques the division of labour; he believed that if a worker devoted their life to performing one or a few simple operations of which the effects are similar or the same, the worker has no occasion to discover methods for removing difficulties that never occur. Smith argues that because of this, the worker would generally become as stupid and ignorant as is possible for a human to be (Smith, 2008, pp. 429 430). Another one of Smith’s most prominent ideas was the concept of the ‘Invisible Hand’ and the idea of a free-market (Smith, 2008, Book IV, ch. 2). What Smith actually meant by ‘Invisible Hand’ is still a contested idea between economists, but it is widely believed that it is a metaphor to describe the guide of the allocation of scarce resources in a free-market. A free-market is a market free from government intervention and so the market price of goods are determined by the interaction between supply and demand. Smith stated that all actors, buyers and sellers, act in their own self-interest (Burnham, P., 2014, B). Smith claimed that, due to the absence of government intervention, buyers are free to choose where to buy goods from and seller are free to choose which goods they want to supply and at what price and quantity. Smith believed that this method would benefit society as buyers, acting in their own self-interest, would buy goods from the cheapest sellers. This would mean that firms would compete against each other, trying to gain as many customers as possible to maximise their own self-interest; profit. This would lead to firms cutting their prices in order to gain buyers. In turn, the inefficient firms with higher costs and whose use of resources are inefficient, will not be able to cut their prices, so are forced out of the market. An obvious example of this is budget airlines competing against each other, Laker Airways became bankrupt in 1982 trying to compete. This inevitably leads to a more efficient use of resources, with buyers getting their goods at a cheaper price and/or higher quality; improving their utility whilst the efficient firms reap the benefits of increased profits. Smith believed that because of this, the free-market is the best way to allocate scarce resources and that indi viduals trying to maximise their utility would in turn increase the utility of society (Smith, 2006, p.316). The most obvious example of the free-market theory in practice today is America – whether or not it is successful in allocating resources efficiently or lowering prices is debatable. A common misconception is that Smith wanted no state intervention whatsoever. However, although he wanted a small state, he saw four main roles for the state to play: to uphold the rule of law, to protect society from people who are against the market, to maintain public infrastructure, and to foster â€Å"justice† (Burnham, P. 2014 B). Not everyone agrees with Smith’s theory of the invisible hand and that the free-market benefits society. The free-market does not work efficiently when externalities exist. An externality is an action of an individual that has an impact on others, which the individual does not pay for/the other individual is not compensated for, so therefore, the market price does not reflect the true cost to society (Mankiw Taylor, 2014 p. 189). Marx argued that the capital class, that is those who own the modes of production, do not work and therefore exploit the workers. He also believes that capitalists would eventually accumulate more and more capital, further exploiting the working class (Marx, 1999, Vol. 7). More recently, Joseph Stiglitz identifies that markets are too short-term driven, and are unlikely to invest in research and development, which historically has been done by the government. As well as this, Stiglitz believes that due to asymmetric information and individuals pursui ng their own personal interest, the free-market will inevitably lead to those with the information to benefit at the expense of others, therefore, markets will not be efficient (Stiglitz, 2004). This can be seen in George Akerlof’s example of a used car salesman, who has more information than the customer, and so can gain at the expense of the customer (Akerlof, 1970). Conclusion Adam Smith was immensely influential and made a huge contribution to the tradition of classical political economy. He produced the building blocks for basic liberal economics that of the free-market – and many of his theories are still used in some way today. Smith’s works influenced many prominent economically liberal academics of the 20th Century, including Milton Friedman and Friedrich Hayek. Smith’s theories have been adopted by governments, most notably Margaret Thatcher’s and Ronald Reegan’s, and have been adapted to suit the different situation of modern society. With hindsight, and through criticisms from prominent academics, such as Karl Marx, we now know that there are faults with some of Smith’s key theories, such as asymmetric information and externalities in a market. However, in the 18th Century, Smith’s theories were revolutionary and helped change the political-economic system of Britain from that of mercantilism to cl assical political economy. Smith’s theories also helped to kick-start Britain’s Industrial Revolution in the 18th Century, which aided Britain’s ascension to be the most powerful and wealthy country in the world (Hudson, 2011). Therefore, it could be argued that his contribution was immense and nearly two hundred and fifty years later, he continues to influence political and economic thinking. Bibliography Smith, A. (2008)An Inquiry into the Nature and Causes of the Wealth of Nations: A Selected Edition. New York: Oxford University Press, USA Burnham, P. (A) (2014) What is political economy-2.ppt, 08 20891 Political Economy. [online via internal VLE] University of Birmingham available at: https://canvas.bham.ac.uk/courses/7985/files/845717?module_item_id=147603 Burnham, P. (B) (2014) Economic liberalism.pptx, 08 20891 Political Economy. [online via internal VLE] University of Birmingham available at: https://canvas.bham.ac.uk/courses/7985/files/845717?module_item_id=147603 Marx, K. (1988)Economic and Philosophic Manuscripts of 1844 and the Communist Manifesto (Great Books in Philosophy). Prometheus Books Marx, K. (1999)Das Kapital: A Critique of Political Economy. Regnery Publishing, Inc., An Eagle Publishing Company Smith, A. (2006)The Theory of Moral Sentiments. 7 vols. United States: Waking Lion Press Mankiw, G. and Taylor, M. (2014)Economics. 3rd ed. Boston, Massachusetts, USA: Cengage Learning Stiglitz, J. (2004)The Roaring Nineties: A New History of the World’s Most Prosperous Decade. Norton, W. W. Company, Inc. Akerlof, G. (1970) The Market for â€Å"Lemons†: Quality Uncertainty and the Market Mechanism.The Quarterly Journal of Economics[online], 84 (3). Available from: http://socsci2.ucsd.edu/~aronatas/project/academic/Akerlof%20on%20Lemons.pdf Hudson, P. (2011) The Workshop of the World. BBC [online], 29 March. Available from: http://www.bbc.co.uk/history/british/victorians/workshop_of_the_world_01.shtml [Accessed 4 December 2014]

american Essay -- essays research papers

The 21st Century American The traits of the typical American have changed drastically throughout the years. Americans have become different in many ways from when they officially became independent in 1776 to the present time in 2001. America is strong, powerful, and influential. Americans exemplify positive values, selflessness, hospitality, and the American way of life. Our values often differ from values of other countries due to cultural contrasts such as with religious, racial, and education issues. We give much more freedom than many other countries do to those of different races and religions. Also, we hold education in a much higher regard than other countries. It is these differences that sometimes make our country seem more appealing to those of foreign lands. Our common American values bind us together as one unit. Americans are often stereotyped as living a fast paced working environment in which they eat fast food and drive fast cars. Some of the aspects of American culture which are typical are: pizza, jeans, sunglasses, baseball hats, name brand clothing, tattoos, cellular phones, bagels, and bottled water. The Popular culture that has developed in America has had a major influence on cultures in countries all over the world. Cell phones have become popular in Europe; name brand clothing has taken off in Asia, and McDonald’s restaurants exist all over the globe. While the American can be looked at as a singular stereotypical entity, it is important to realize the many differences that exist between Americans living in different regions of the country. When people who have lived in America all their lives travel to a different part of the country, they are often just as amazed at the differences in culture as people are who come to America from foreign countries. For Instance, a woman who is a New England native that travels south to North Carolina for the first time will be shocked at the cultural differences she encounters. The New Englander will discover that the natives of North Carolina speak different, eat differently, and even act differently. She discovers what is referred to as ‘Southern hospitality’ when she interacts with people who exhibit a sense of kindness and manners far beyond that of which she is accustomed. On the menu at restaurants she will see items she is unfamiliar with, such as: grits, pigs feet, cheesy w esterns, an... ... his luggage he has a conversation with a man who introduces himself and for some strange reason takes his hand and shakes it. When faced with the decision of what to eat he finds it difficult to decide because of the many different types of restaurants in America. He has trouble deciding whether to eat at a fast food place, southern restaurant, western restaurant, Chinese, Italian, Mexican, Indian, or French cuisine. After making his decision he is again amazed that rice is nowhere to be found on the menu. Despite the differences in culture between America and China he realizes he is in a great nation that is full of opportunity. America is a just and free nation. Its greatness is admired by the entire world. Many immigrants come to America to find a better life and for others it is merely a dream. Those who do become citizens are welcomed into the greatest most powerful nation in the world. American is made up of a cornucopia of cultures from around the world. The fact that Americans from different regions are different does not obscure our identity as a nation. Instead, these differences are what unite us as one nation, under God, Indivisible, for liberty, and justice for all. american Essay -- essays research papers The 21st Century American The traits of the typical American have changed drastically throughout the years. Americans have become different in many ways from when they officially became independent in 1776 to the present time in 2001. America is strong, powerful, and influential. Americans exemplify positive values, selflessness, hospitality, and the American way of life. Our values often differ from values of other countries due to cultural contrasts such as with religious, racial, and education issues. We give much more freedom than many other countries do to those of different races and religions. Also, we hold education in a much higher regard than other countries. It is these differences that sometimes make our country seem more appealing to those of foreign lands. Our common American values bind us together as one unit. Americans are often stereotyped as living a fast paced working environment in which they eat fast food and drive fast cars. Some of the aspects of American culture which are typical are: pizza, jeans, sunglasses, baseball hats, name brand clothing, tattoos, cellular phones, bagels, and bottled water. The Popular culture that has developed in America has had a major influence on cultures in countries all over the world. Cell phones have become popular in Europe; name brand clothing has taken off in Asia, and McDonald’s restaurants exist all over the globe. While the American can be looked at as a singular stereotypical entity, it is important to realize the many differences that exist between Americans living in different regions of the country. When people who have lived in America all their lives travel to a different part of the country, they are often just as amazed at the differences in culture as people are who come to America from foreign countries. For Instance, a woman who is a New England native that travels south to North Carolina for the first time will be shocked at the cultural differences she encounters. The New Englander will discover that the natives of North Carolina speak different, eat differently, and even act differently. She discovers what is referred to as ‘Southern hospitality’ when she interacts with people who exhibit a sense of kindness and manners far beyond that of which she is accustomed. On the menu at restaurants she will see items she is unfamiliar with, such as: grits, pigs feet, cheesy w esterns, an... ... his luggage he has a conversation with a man who introduces himself and for some strange reason takes his hand and shakes it. When faced with the decision of what to eat he finds it difficult to decide because of the many different types of restaurants in America. He has trouble deciding whether to eat at a fast food place, southern restaurant, western restaurant, Chinese, Italian, Mexican, Indian, or French cuisine. After making his decision he is again amazed that rice is nowhere to be found on the menu. Despite the differences in culture between America and China he realizes he is in a great nation that is full of opportunity. America is a just and free nation. Its greatness is admired by the entire world. Many immigrants come to America to find a better life and for others it is merely a dream. Those who do become citizens are welcomed into the greatest most powerful nation in the world. American is made up of a cornucopia of cultures from around the world. The fact that Americans from different regions are different does not obscure our identity as a nation. Instead, these differences are what unite us as one nation, under God, Indivisible, for liberty, and justice for all.

Whirlpool Corporation †A Lawful, Ethical, and CSR Minded Business Essa

Whirlpool Corporation – A Lawful, Ethical, and CSR Minded Business Whirlpool Corporation – A Lawful, Ethical, and CSR Minded Business During the past several years global companies, like Whirlpool Corporation, have gained global awareness of the complex and evolving legal, ethical, and social expectations of their stakeholders. While many companies have started to tackle these new set of requirements by modifying their mission statements, business policies, and workplace practices, leadership companies continue to wrestle with the challenge of integrating these three vital topics into their overall business operation. Companies that successfully integrate plans to incorporate the legal, ethical and corporate social responsibility concerns within all areas of their business stand to gain financial and social benefits through the identification of new business opportunities, the strengthening of their brands and corporate reputation, the attraction and retention of top employees, and the recognition as a trusted partner (Integrating CSR: New Risks, New Rewards, 2004). In this particular paper, the author will attempt to describe how legal issues, ethics, and corporate social responsibility (CSR) impacts the management planning of Whirlpool Corporation. Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of over $13 billion. They employ 68,000 people, and have nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries. Whirlpool Corporation is also the principal supplier to Sears, Roebuck and Co., of many major home appliances marketed under the Kenmore brand name (Fast Facts, 2005). Embedded in Whirlpool Corporation and their Board of Directors is the deeply held value that continues to guide them: "There is no right way to do a wrong thing" (Continuing Legacy, 2005). This basic code of conduct underlies the company's long tradition of strong and independent corporate governance. Whirlpool's Board of Directors is currently comprised of eleven directors, nine of whom are indepen... ...al responsibility and education. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_education.html. References Whirlpool Corporation. (2005). Social responsibility and the environment. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_enviroment.html. Whirlpool Corporation. (2005). Social responsibility and mexico. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_mexico.html. Whitman, D. (2003, April). Building a global loyal following. Retrieved June 26, 2005, from http://static.highbeam.com/a/appliance/april012003/buildingagloballoyalfollowing. Yahoo Finance. (June, 2005). DiversityInc. magazine recognizes whirlpool for diversity strengths. Retrieved June 25, 2005, from http://biz.yahoo.com/prnews/050616/deth006.html?.v=14.

Flying Home :: essays research papers fc

"Flying Home": a Living Story. Ralph Waldo Ellison is perhaps one of the most influential African-American writers of the twentieth century. Ellison is best known for writing about such topics as self-awareness, identity, and the racial repression of African-Americans in the United States. His masterpiece, Invisible Man, chronicles the story of a young man striving to find himself in a world where he is hardly noticed. This novel won him much respect in the eyes of the literary community. Earlier in his career, Ellison also wrote many influential short stories. "Flying Home", is one of Ellison’s stories that call the attention of all concerned with the basic essence of human freedom. In "Flying Home", Ellison creates a provocative statement about the Black situation in the south in the 1940’s that is rich with symbolism and personal experience. Born on March 1, 1914, in Oklahoma, Ellison was raised in an environment that promoted self-fulfi llment. His father, who named his son after Ralph Waldo Emerson and hoped to raise him as a poet, died when Ellison was three. Ellison’s mother enlisted blacks into the Socialist Party and was also a domestic worker. In the early 1930s, Ellison won a scholarship to Alabama’s Tuskegee Institute, where he studied music until 1936(Busby 10). Later, to earn money for his education (after a mix-up regarding his scholarship), he traveled to New York, where he met Richard Wright and became involved in the Federal Writer’s Project. Encouraged to write a review for New Challenge, a publication edited by Wright, Ellison began composing essays and stories focusing on the strength of the human spirit and the necessity of racial pride. It was during this time that Ellison composed "Flying Home." "Flying Home", is the story of a young man who is one of a very small number of African-American pilots in World War II. The story begins as the young man, named Todd, crashes his trainer plane into a Southern crop field. Injured and unable to move, Todd is helped by one of the field workers, a black man named Jefferson. Todd, a man of the "white" world is overcome by feelings of disgust by the appearance and demeanor of Jefferson. Todd feels physically ill from having to deal with someone of such low class. At this early point in the story the reader wonders why Todd, a black man, would show such terrible feelings toward someone of his own race. Flying Home :: essays research papers fc "Flying Home": a Living Story. Ralph Waldo Ellison is perhaps one of the most influential African-American writers of the twentieth century. Ellison is best known for writing about such topics as self-awareness, identity, and the racial repression of African-Americans in the United States. His masterpiece, Invisible Man, chronicles the story of a young man striving to find himself in a world where he is hardly noticed. This novel won him much respect in the eyes of the literary community. Earlier in his career, Ellison also wrote many influential short stories. "Flying Home", is one of Ellison’s stories that call the attention of all concerned with the basic essence of human freedom. In "Flying Home", Ellison creates a provocative statement about the Black situation in the south in the 1940’s that is rich with symbolism and personal experience. Born on March 1, 1914, in Oklahoma, Ellison was raised in an environment that promoted self-fulfi llment. His father, who named his son after Ralph Waldo Emerson and hoped to raise him as a poet, died when Ellison was three. Ellison’s mother enlisted blacks into the Socialist Party and was also a domestic worker. In the early 1930s, Ellison won a scholarship to Alabama’s Tuskegee Institute, where he studied music until 1936(Busby 10). Later, to earn money for his education (after a mix-up regarding his scholarship), he traveled to New York, where he met Richard Wright and became involved in the Federal Writer’s Project. Encouraged to write a review for New Challenge, a publication edited by Wright, Ellison began composing essays and stories focusing on the strength of the human spirit and the necessity of racial pride. It was during this time that Ellison composed "Flying Home." "Flying Home", is the story of a young man who is one of a very small number of African-American pilots in World War II. The story begins as the young man, named Todd, crashes his trainer plane into a Southern crop field. Injured and unable to move, Todd is helped by one of the field workers, a black man named Jefferson. Todd, a man of the "white" world is overcome by feelings of disgust by the appearance and demeanor of Jefferson. Todd feels physically ill from having to deal with someone of such low class. At this early point in the story the reader wonders why Todd, a black man, would show such terrible feelings toward someone of his own race.

Understanding Social Perception & Managing Diversity

Understanding Social Perception & Managing Diversity Perception can and is influenced by a number of different things whether from the things that is read, seen on television, or simply from what we retain from family and friends. The way that perception is interpreted determines how we perceive people or our surrounding. Steve Harvey film and book Act like a Lady Think like a Man elaborates on how the perception between genders, as well as the diversity that distinguishes the communication barriers between men and women and helps to break down that barrier.In the text Organizational Dynamics and Human Behavior (second edition) major component of social perception and the Kelley’s Model of Attribution are reflected in Act like a Lady Think like a Man and will be elaborated on how it all relates throughout our discussion. Act like a Lady Think like a Man shines light on how men and women perception of the opposite gender is totally different. A woman may view all men in a n egative light based off of one negative out come and a man will put every woman in the same category based off of what a woman requires. With both genders categorizing each other the text refers to this as stereotyping.Stereotyping occurs when individuals are placed into categories. For example Act like a Lady Think like a Man placed men in to the different categories Momma’s Boy which is a man who has yet to let go of his mother and tend to his woman, then there is the non committer who is a man who is not willing to go to the next phase which is marriage, the dreamer who will not just focus on accomplishing one task at a time but doesn’t seem to know what and how to implement his plan, and then there is the player who just simply will not commit to anyone due to the desire and challenge in playing the game.Act like a Lady Think like a Man is a guide for women to understand how to perceive men. Steve Harvey has simplified by encoding the males perception of a females, which means he has created a mental representation on how the male mind works (kinicki, 2009, p. 64). In Act like a Lady Think like a Man Lauren was a successful young female CEO of a Major company who wanted a man who is on her level or higher which she believed would make them more compatible in a relationship.Lauren knew what she wanted in a man and received it all but soon came to realize that her dream guy wasn’t what she needed. She met a dreamer Dominic who made her happy with the little things that cause her to reflect back on the different occurrences and share with friends how much this individual made her happy even though he did not possess the required traits she looked for initially. Event memory is containing information for specific events and general events, as well as personal memory which contains information of a single individual or group ((kinicki, 2009, pg. 6). Lauren had to make a judgment call on what she wanted. Was it going to be her happiness with a gentlemen that had potential to be what she wanted or was she going to sacrifice her happiness for status. This was the retrieval process that is retrieved from the memory to make a decision. When a man approaches you you're the one with total control over the situation-whether he can talk to you, buy you a drink, dance with you, get your number, take you home, see you again, all of that.The woman is in control from the start. For the non committer he doesn’t feel the necessary urge to go to the next phase because the woman does not require it of him, by giving him the perception that you are content in with the current status. This relates to managerial implication through both a performance appraisal and the leadership aspect. Performance appraisal determines good versus poor performance through motivation and commitment and loyalty.Act like a Lady Think like a Man, Kristin realized that her boyfriend the non committer of nine years wasn’t willing to go to the nex t phase of their lives because she didn’t require anything from him so he displayed no willingness to want more. Leadership is when you lead by example. Kristin then began to make changes by encouraging him to want to apply for a better job and by just simply change the environment of their home through redecorating.Act like a Lady Think like a Man indicated that a woman can find all kinds of deficiencies in themselves-â€Å"I didn't do this right,† â€Å"I wasn't good enough,† â€Å"I didn't love him the way I should,† â€Å"she came in here and outperformed me† (Harvey). Women need to reframe from placing the blame of the man's actions on themselves. By holding on to that weight can be hindering for future encounters. Steve Harvey said, â€Å"You simply cannot drive forward if you're focused on what's happening in the rearview mirror. † Causal attributions is constantly formulating cause and affect explanations for our own and others behav ior (kinicki, 2009, pg. 8). Kelley’s Model of Attributions proposes that behavior can be attributed either to internal factors within a person or external factors within the environment (kinicki, 2009, pg. 69). Consensus involves a caparison of an individual’s behavior with that of his or her peers. In Act like a Lady Think like a Man the men were easily influenced by what the others were doing or would say about them. The men would go to play basketball every Thursday and out for a night cap afterwards if one were to attempt to stray from the usual the group would instantly began to place judgment instead of being excepting of prior plans.External factors are behaviors caused by environmental characteristics. Men are more concerned on how their surrounding perceives them and their status. Women want their love to be reciprocated in the same way they give it where as men will reciprocate their love only to the one that feel is deserving of their love. A man is not just going to provide and share his love with just anyone he has to know that you are the one. Women should expect that a man will pay for your dinner, movie, and more in exchange for her time.Men view women who expect this type of treatment as a gold digger, which is someone who is just after the contender with the most. Diversity represents the multitude of individual’s differences and similarities that exist amongst people. In Act like a Woman Think like a Man diversity is reflected in the way that men and women carry themselves, communication styles, and perception of one another. In conclusion Act like a Woman Think like a Man relates to diversity and perception between genders.Diversity highlight how different the thought patterns are but all how it is similar also. Although men are not as open and expressive as women we are all looking for the same things from each other. The perception on how the information is process is totally different but that’s what makes a r elationship or organization success is the differences. Act like a Woman Think like a Man helps to understand diversity and perception from a relationship status and through a male’s point of view on where women need help on understanding the male species.Just like an organization has standards and employees respect them women should have standards also. â€Å"Men respect standards get some,† Steve Harvey (Harvey).References Kinicki, A. and Kreitner. R. (2009). Organizational dynamics and human behavior. (Second ed. , pp. 64-70). New York: McGraw Hill. Harvey, S. (2009). Act like a lady, think like a man. New York: HarperCollins Publishers. Harvey, S. (n. d. ). Goodreads. Retrieved from www. goodreads. com/author/quotes/206062. Steve_Harvey Story, T. (Director) (2012). Think like a man [Theater]. (Story, 2012)

New Look Jacket Inc.: Variance Analysis Essay

New Look Jacket Inc. (NLJ) specializes in the production of Nylon Jackets and Leather Jackets. The company delivers successful financial records at the end of the 2012 fiscal year with the net income of $ 417,100, which is $170,850 greater than the net income budgeted for the 2012 fiscal year despite that the company operations goes through some turmoil. A more detail variance shows that the external factor largely responsible for the growth of leather markets that rapidly increase than anticipated making NLJ to catch with the increase in market demand. Variance Analysis Contribution Margin Based on the figure in Exhibit 1, the total amount of contribution margin for the Nylon jackets is $4,350 less than the budget. Although, the actual unit of contribution margin is $0.15 greater than the standard due to the lower admin cost and selling per unit. However, the Leather jackets’ total contribution margin is $325,200 higher than the budget. The actual unit for contribution margin is $12.70 less than the standard because of the higher variables in all the business categories. Sale Variances Analysis of sale variance reveals that New Look Jackets record 110,000 actual sale volumes greater that sale volume of 100,000 budgeted for the fiscal year. The favorable variance of 10,000 makes the company to record the increase in the sales revenue for the actual budget. The company recorded $5,747,500 as actual revenue compared to $4,075,000 budgeted as sale revenue making the company to record the favorable variance of $1,672,500 in revenue. Despite the favorable sale variance that the company records, it is only the Leather Jacket that records favorable variance because the budgeted sale volume is 5,000 units and the actual sale volume is 16,500 units making the company to record a favorable variance of 11,500 in the sale volume. However, the variance for the sales of Nylon jacket is unfavorable with the budget of 95,000 units for the sale volume and the actual budget recorded are 93,500 units making the company to record the unfavorable variance of 1,700 units in sales. Thus, the sales mix variance is favorable for the Leather jackets, however, unfavorable for the Nylon jacket. The company recorded unexpectedly high in the market of Leather Jacket in 2012 generating favorable mix market for the company. The direct material price is not favorable for the New Look Leather jackets showing that the company spends more in purchasing of direct materials than the price actually budgeted for Leather jackets. The major reason is that the company did not have enough material in stock to produce the quantity of leather jacket demanded. Due to the abnormal increase in demand for the Leather jacket, the company had to make a rush order for the Leather jacket material which consequently led to the increase in the price of direct materials. 2. Budget projections for Sales, Direct material, Direct labor, Variable costs and Fixed Cost. The paper prepares a new budget for the New Look Jacket based on the on the company past financial performances and the economic outlook for the 2012 fiscal year. The results of the variance analysis between the 2012 budget and the actual budget at the end 2012 fiscal year is also used to prepare  the new budget. Assumptions The paper prepares the new budget based on the following assumptions: The increase in inflation will not be more than 5% and increase in inflation is assumed to affect the projected fixed costs of operations. The sale volume of Leather jacket is assumed to reach 30,000 units. Essentially, the company did not prepare for the increase in the demand for the Leather jacket in the preceding year, and it is assumed a new trend in fashion will affect the demand for the Leather jackets, which will lead to an increase in the demand for the Leather jackets. The other assumption is that the US economy will not experience a recession that may affect the total demand. Moreover, the income tax will remain the same because the increase in income tax is likely to decline the total demand. Budget Projections The data in the new budget reveals that the company will realize the total sales volume of 123,500 units in both the Nylon Jacket and Leather jacket. However, it is projected that the demand for the Leather jacket will reach 30,000 units making the company to record the revenue of $4.5 Million in the Leather jacket. The increase in the demand for the Leather jacket will make the company to realize the revenue of more than $7.77 Million. (See Appendix 1 reveals the new budget and Appendix 2 reveals the costs of direct materials and direct labor). Despite the increase in the company total revenue, the company will incur an increase in the cost of direct material and direct labor due to a projected increase in the total demand for the Leather jacket. Moreover, the total fixed costs are projected to increase to $1.5 Million due to 5% increase in inflation. Despite the increase in the total costs, the company is projected to record a net income of $518,419. Reference Foster, H. & Teall, D. G (2012). Cost Accounting: A Managerial Emphasis, (5th Canadian Edition). Canada, (CMA Online Library).

Academic development Essay

Continuing education is always a means of empowering oneself towards being able to offer more as a professional and as an individual sincere in making a difference in this world. In this era of technology and modernization many young people become immediately satisfied with the monetary benefits of a college or a master’s degree and only few see the value in aiming for a doctor’s degree. Personally, I believe that many of these young people are correct in saying that even with a college and master’s degree economic benefits can already tide one over the laps of luxury because the world is in need of technology experts and specialists. However, I also consider pursuing a doctor’s degree in the spirit of paying it forward. While I already have a masters degree and can easily enrich myself economically, I am at the point in my life where I am more concerned with what I can give to society and the world, and not with what I can take from it. I am a dynamic and detail-oriented young professional aiming for more opportunities to be able to change and make the world a better place for all of us. I used to work at the Sultan Bin Abdulaziz Humanitarian City where I was recognized by the management as a professional and dedicated employee. See more:  Manifest Destiny essay I earned my bachelor’s degree in Computer and Information Sciences from the King Saud University in Riyadh, Saudi Arabia in 2007 after which I immediately proceeded to earn my Masters Degree in the Science in Management Information Systems from the University of Surrey in the United Kingdom. This particular master’s degree had special focus on Business Process Management based on the SAP System, Strategic Information Management, Information Systems Development, and Financial Management. My dedication and diligence in my academics paid off as I graduated from my master’s degree with Merit. Now, I seek to proceed and earn my doctors degree to finally seal my educational journey and become more capable of making significant contributions to the field of information technology. My experience in the field is varied. I personally handled and conducted demonstrations on a new ERP project for automating HR processes in a 400-bed rehabilitation hospital & medical center. This particular project helped the beneficiaries of the project a lot and it made me feel contented with being able to extend my technical knowledge in the service of others. In terms of knowledge transference, I was also involved in presentations on Tesco electronic channels as well as electronic commerce and ERP systems. I always feel like I am doing something important when I am able to share knowledge with other people and enable beneficiaries to appreciate the importance of technology. I am also an advocate of improved government systems as well as the enhancement of basic services. In the past years, I have completed a dissertation on E-Government, titled, â€Å"Evaluating User Acceptance of Electronic Government in Saudi Arabia†. In keeping with my advocacies, I have also written critical analyses on business comparisons for Dell and EasyJet Airlines and BMW’s recession strategy. To add to these, I have composed reports on the use of SAP in the ERP system of Porsche as well as on artificial intelligence and operating system security. All these I did in the spirit of making basic services more efficient and more user-friendly. I have also collected requirements during strategic meetings with HR and finance senior managers, built plans to improve business processes with automation, facilitated re-engineering business processes for a new ERP system implementation for finance and human resources, and created an education institute website with a team; wrote an evaluation report. On the outset, I do not consider what I have done as academic, professional, or personal achievements because I am more concerned with the changes that I am able to effect. In all these things, I had in tow my acquired excellent communication and human relations skills which I found very useful especially in explaining technological innovations to my clients and beneficiaries in very simple and understandable terms. Apart from being diligent in trying to improve myself my true passion is in seeing the changes that I effect significantly influence the organizations that I have worked for and with. My doctor’s degree will therefore help me do more of what I had already been doing and build my capacities more in my advocacy of seeing better governments and improved basic services. The ultimate beneficiaries of all these are of course the public at large who are at the end of the receiving chain. So, while pursuing a doctor’s degree is in fact a means of academic development, I view it as an opportunity for each of us to improve ourselves with the focus of improving the lives of others. At a time when technology is almost everywhere and when technology seems to be the basis for many of our daily activities, it is very important that each individual acquire a deeper and richer appreciation for technological innovations and advancements which are instrumental not only in making our lives convenient but also in raising the standard of living for society. It would be my great pride to be part of the wave of technology that is currently sweeping all over the globe. I am confident that with a doctor’s degree I would be able to leave behind a legacy of difference with all the people who have benefitted from my tutelage as well as with all those who enjoy the conveniences of technology in areas where technology was previously unheard of. My desire to pursue my doctor’s degree is done in the sincere dedication to the welfare of all and to the advancement of technology in the service of man.