Economics and the Workplace

In: Business and Management

Submitted By tristaramsey
Words 296
Pages 2
Because I do not have a lot of job experience yet, this week’s paper in going to be focused more on the job I would like to have in the future.
I choose to major in Business and Accounting because I would like to get involved with the banking industry. I believe that this week’s material relates rather well with banking. Inflation is defined as “a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency” and was a topic in this week’s reading. It is a term most of us have heard quite often and can have a negative as well as a positive effect on people and the economy. Inflation can and does affect many types of business whether they are family owned and operated or a larger corporate company. Inflation also has an effect on the things we purchase from something small like an ice cream cone to bigger things like houses and automobiles. Inflation rates and interest rates are linked and are often referred to when talking about macroeconomics. Interest rates are set by the Federal Reserve also known as “The Fed” When interest rates are lower people are able to borrow more money. This results in people having more money to spend which causes the economy to grow and therefore making inflation rise. The opposite happens when interest rates increase. If interest rates rise people have harder time borrowing money so they tend to spend less making the economy slow down and in turn causing inflation to decrease.
It doesn’t matter what type of industry we work in or hope to work in some day, inflation will eventually impact it in some…...

Similar Documents

Diversity in the Workplace

...Diversity in the Workplace By University of Phoenix Mgt/308 August 24, 2011 Diversity in the workplace is a subject that has gained increased attention in the workplace, not only just here in this country over the past few years. After all, the impact of affirmative action and equal employment opportunity programs on the nation's work force is undeniable. Women and minorities were the first to dramatically alter the face of the economic mainstream, while gays, persons with disabilities and senior citizens followed not far behind. The result is a diverse American labor force representing a microcosm of our society - yet one that continues to struggle with its identity. Diversity as a social condition is not new to America. According to the History Channel “We were founded as a nation of Diversity. And America has always been a merger of cultures and, as such, has undergone periods of discomfort as the world's melting pot” (HistoryChannel.com). The sense and nature of pride in diversity has led the nation to where we are today as a country. It is important to identify various dimensions of workplace diversity. The first dimension involves primary levels of diversity. That is, people with disabilities, gender, race, color, ethnicity, sexual orientation, creed, religion, and age are primary dimensions of diversity. Managers must recognize that there is a need to train, inform, and sensitize their employees to deal with issues relating to this type of diversity.......

Words: 958 - Pages: 4

Diversity in Workplace

...DIVERSITY IN THE WORKPLACE What is a diverse work place? Well, a diverse workplace could be a place that has mixture of gender, age, ethnicity, disability and other dimensions of diversity. I didn’t know that diversity included disability or even other dimensions of diversity. Well according to our HR book other dimension is a person’s sexual orientation. (DENISI/GRIFFIN, 2011) Sexual orientation means a person's sexual identity in relation to the gender to which they are attracted; the fact of being heterosexual, homosexual, or bisexual. Benefits of Diversity in the Workplace. A diverse workforce drives economic growth which is beneficial to all the valuable markets. We have in the United States a big growth in more women, racial and ethnic minorities, and gay and transgender going into the workforce. A diverse workforce can have a better share of consumer market. By bringing in a diverse group of employees it brings together different experiences that can be more marketable to consumers. Recruiting from a diverse pool of candidates means a more qualified workforce. A diverse and inclusive workforce helps businesses avoid employee turnover costs. Diversity fosters a more creative and innovative workforce. Businesses need to adapt to our changing nation to be competitive in the economic market. Diversity is a key aspect of entrepreneurialism. Diversity in business ownership, particularly among women of color, is way to moving our economy forward. ......

Words: 648 - Pages: 3

Workplace

...discrimination on the basis of sexual orientation on a federal level. Less than five years late states in observance of the success of the Clintons federal law passed ordinances banning sexual orientation discrimination in the workplace..An estimated 20 percent of the GLB community reside in cities were they city can afford this type of protection. It is still acceptable to discriminate In the United States in several places even if your only believed to be gay. Gay rights advocates are incredibly passionate when it comes to the moral imperative for change in the way we treat homosexuality. But the matter of the fact is that businesses for the most part only become more accomating and understanding of Homosexuality and welcome the bussines case for diversity in terms of sexual preference.Bussiness communitys are aware of the reason why its imperative for them to become gay friendly.External consequences such as how the company is viewed by the GLB community are one of many reasons.Also within the orginazation an increase in inclusiveness of all GLB workers can absououtely have positive effects on the verall organization’s overall productivity. Organizations make a conscienceous effort to avoid inflicting harm to gays in the workplace because of the adverse results of discrimination.Protection such as the (Lenihan,1998 Welch,1996) are to ensure that companies aren’t routinely discriminating against GLB workers because the orginazation can be liable for a......

Words: 674 - Pages: 3

Diversity in the Workplace

...Diversity in the Workplace Alain Kraussman Hall Baker College Online Human Behavior Management of Organization/BUS615 December 6, 2012 Introduction Diversity is defined as “the condition of having or being composed of differing elements: variety; especially: the inclusion of different types of people (as people of different races or cultures) in a group or organization” ("diversity," 2012). These differing elements are becoming more and more prevalent in today’s society, and especially in the business world. Emigrants from every country in the world have made their way to the shores of America, and from there, to millions of companies and organizations across the nation. From the owner of the neighborhood corner store to the CEO position at Citigroup and Pfizer, foreign-born employees are giving this country a new, diverse, face. Diversity is not just of race, but of age, gender, ethnicity, religion, and disability. In every decade since 1900, the percentage of women 16 years and older in the workplace has increased, going from just 18.3 percent in 1900 to 53.6 percent in 2010 ("Women in the," 2007). The same holds true of disabled workers. In December 1976, there were roughly 2,088,242 blind and disabled workers in the United States. Growing nearly every year since, the Social Security Administration reports that as of December 2011, there are 6,996,435 blind and disabled people in the workforce ("Ssi annual......

Words: 2619 - Pages: 11

Religion in the Workplace

...Religion in the Workplace Dan Walker May 2, 2013 Religion in the Workplace As our country expands our workforce and the more markets go global, the workplace is forced to respond to religious differences and requirements in order to establish policy and remain in compliance with workplace harassment and discrimination laws as the workforce includes many more and diverse cultures in the ranks. This country was built on Judeo-Christian dominations and sects, but as the workplace expands, more and more non-Christian cultures are included that have different and more complex requirements. Christian culture dominates the American workplace and business and has since American’s colonial beginnings. Religious groups that enjoyed the highest standing during America's colonial period are still favorably positioned in the religious hierarchy. Studies in the 1990s show that Americans are much more likely to claim affiliation with groups ascendant during the colonial period (Episcopalians, Presbyterians, Quakers, and members of the United Church of Christ) than one would expect based on the representation of these groups in the general population (Davidson, 2003). Muslims have required times of prayer during the day and people of the Jewish faith are required to not work on Saturday to honor the Sabbath (Stern, 2011). Just these two examples have flown directly in the face of much of business schedules and practices in the past, and have required people who hold to these faiths......

Words: 1980 - Pages: 8

Workplace Violance

...Case study No.1 Workplace violence Problem definition Workplace violence occurs in a work setting which is an act of aggression, physical assault, or threatening behavior that causes physical or emotional harm and endangers the health or safety of the customers, coworkers, or managers. Justification of the Problem There are many causes of Workplace violence including economic, societal, psychological, and organizations issues. The economic causes are an over-stressed population, re-organizing departments, growth of technology, recession, and unemployment. Many people have the opinion that the societal causes of workplace violence are many; a changing society, violence on television and in the movies, music. Physiological causes of workplace violence may also be the result of employees who have experienced emotional, physical, or sexual abuse from childhood. The role that organizations play in workplace violence includes; organizational structure, the lack of a forum to address grievances, threats of violence, creativity and new ideas being discouraged. Empowered employees and a voice in the decision-making process are lacking. Many workers may look at violence as being part of their job; a risk they are expected to endure. Cases of verbal abuse are often seen as not worth reporting, particularly when the employer is not supportive of the worker’s claim. For these reasons, the actual statistical extent of violence is not really known. List of Alternatives 1...

Words: 813 - Pages: 4

Workplace

...Workplace Paper Week 2, MGT/308 Cova, Luis The workplace in America has changed substantially in the last 35 years. Many organizations that were once primarily staffed with white associates now employ people from of various ethnicities in large numbers. The change gradually occurred overtime; initiated by laws like Executive Order 11246 better known as affirmative action, which required federal contractors to hire employees without regard to race, religion or national origin. Although the law was implemented to target hiring practices of federal contractors it was eventually amended to include companies in the private sector as well. Although Affirmative Action laws were met with resistance initially, and still remains a controversial topic within companies today; many organizations are more open accepting of multicultural make up of their associates than ever before. Today some companies have created departments that are structured to managing diversity within an organization. Some companies have also implemented mandatory diversity training aimed at increasing awareness among all demographics within the organization. As things have progressed, opposed to trying to keep......

Words: 732 - Pages: 3

Workplace

...Workplace Memo University of Phoenix MGT 521 Managing by personality type can allow for the achievement challenging goals. Placing extravert personalities on certain task generally yields effective results, and more introverted employees are the stronger suited in project management geared towards leadership roles. Using this knowledge of personality types of team members will make for a successful completion. The project will be a new market segment for Sanford Brown College’s Career Services department, to now include marketing to new and existing medical clinics and hospitals and smaller offices, based on the specific needs of the Houston area. Previously all marketing has been orchestrated out of Chicago, with a blanket strategy not considering the diversity of cultures in the Houston area, only focusing on the general and Hispanic market segment for advertising. This new endeavor will include locating temporary contract positions for clinical externship sites and permanent entry level positions for current and recent graduates. Paul and Larry (ENTJ), both are driven to lead, and work well with partnerships. Both Paul and Larry have the ability to understand difficult organizational problems and can create solid solutions. They value knowledge and competence and have little patience for disorganization. They will be the executives that will get all departments to understand and support the new effort. Jerry......

Words: 736 - Pages: 3

Workplace

...SETA survey of representatives in Tribunal cases 2008 t Research Paper Workplace conflict management: awareness and use of wareness an s nd the Acas Code of Practice and workplace mediation place me lace ediation e ed – A poll of business Ref: 08/11 2011 2011 Matt Williams and Acas Research and Evaluation Section Williams For any further information on this study, or other aspects of the Acas Research and Evaluation programme, please telephone 020 7210 3673 or email research@acas.org.uk Acas research publications can be found at www.acas.org.uk/researchpapers ISBN 978-1-908370-03-7 Workplace conflict management: awareness and use of the Acas Code of Practice and workplace mediation – A poll of business Ref: 08/11 2011 Matt Williams and Acas Research and Evaluation Section TABLE OF CONTENTS EXECUTIVE SUMMARY .................................................................................. 3 1. BACKGROUND AND METHODOLOGY ....................................................... 5 1.1 Background...................................................................................... 5 1.2 Methodology .................................................................................... 6 2. GRIEVANCE AND DISCIPLINARY PROCEDURES AND THE IMPACT OF THE ACAS CODE ............................................................................................ 7 2.1 2.2 Acas Code and guidance ..................................

Words: 9918 - Pages: 40

Workplace

...Problem Definition: Expression of physical or verbal force against other people in the workplace, Workplace violence activities range from threats and verbal abuse to actual physical contact and assaults that cause physical harm to other people. Work place violence is a serious concern for most employers, in both private and public sectors. It is essential to understand more about work place violence; simply it is violence or the threat of violence against workers. It can occur inside or outside the work place and can range from threats and verbal abuse to physical assaults and homicide, one of the leading causes of job- related deaths. (OSHA) Justification for problem definition: There are many factors causing workplace violence, based on their personal characteristics at an individual level or population groups such as: - This employee doesn’t give himself any opportunity to express himself and talk about his problems - Unclear policies or procedures organize the work in firm - Bad communication strategy in the firm make the employees isolated to others - Psychological problems and mental illness. where the employee cannot think in a proper way to solve his problems such as Financial problems ,Termination , Personality conflicts …etc - Bad treatment from managers - Having had a violent past or having had a difficult childhood. - Drugs and Alcohol Addiction. - Being in a situation which is likely to lead to violent acts against oneself or others, such as......

Words: 649 - Pages: 3

Bullying in the Workplace

...December 20, 2012 HCA/250 Bullying in the workplace Journal review assignment Bullying in the workplace Journal review assignment Workplace bullying is when an individual repeatedly, harms the mental health of another person or several by mistreating them in more than one form of abuse. It is the need of an individual to have control over another targeting them, conducting methods finding the right timing and location to intimidate. It can escalate to having more than one person bullying or a group of bullies, either voluntarily or coerced in to mistreating another co-worker. Bullying is associated with negative job satisfaction and retention. It can have horrible effects on a person’s health. Bullying can be a result of current economic circumstances that can lead to hostility and violence. Bullying differs from other violence because it is repeated over months at a time, in contrast to other forms of violence that can be isolated incidents. The journal article shows substantial research that bullying in the workplace has severe negative effects on the health and well-being of those individuals who are targeted by the perpetrators. These effects can put organizations in to economic strains. There are occupational health nurses that can intervene to help the employees and make the company more profitable by taking educational programs and counseling on bullying for those individuals that have experienced bullying and those who want to help. Bullying should not be......

Words: 800 - Pages: 4

Workplace

...Privacy in the workplace can reasonably be expected in three general areas as it relates to the employer, co-workers, clients and customers. When an employee is hired at a new company, there are several security measures that are already in place in order to keep their personal information private and/or confidential. The first being in the Human Resources Department where all the information is gathered by the employee filling out various forms of that are confidential in nature. This information is kept in the employee’s private, confidential employee folder in the Human Resources Department, generally in a locked cabinet or other secured areas. This ensures that no one other than the Human Resources Department can get access to the information other in the file. At times, special permission is granted for a manager to review the file for a specific reason, along with the Human Resources representative. The second place where an employee can reasonably expect to have privacy is in the computer mainframe where all the pertinent records (such as social security number, address, date of birth, banking information, etc.) are stored. This is used primarily for an employee’s timekeeper administration and government reporting purposes. Only key personnel such as Human Resources, Accounting and IT have access. There are also different levels of access allowed based on the need to see the data. Another area of where an employee can reasonably expect to have......

Words: 874 - Pages: 4

Workplace

...2016 A Call to Action: How to Intervene in Workplace Harassment Workplace harassment is a significant violation in the modern work environment. According to the Canadian Human Rights Commission Workplace harassment "involves any unwanted physical or verbal behaviour that offends or humiliates you...Serious one-time incidents can also sometimes be considered harassment." (Canadian Human Rights Commission, 2013) If left uncheck accusations of workplace harassment could potentially put a business in trouble with the regulatory agencies. In the workplace, employees experience sexual, gender, and racial/ethnic harassment. The Ontario Ministry of Labour has developed recommendations and guidelines as a way to reduce the occurrences of workplace harassment. On the other hand, employers also a responsibility to put in place “best practices” for employees to follow to ensure a safe work environment for everyone. Intervention is needed because persons who experience harassment have a hard time fight back. Because laws on workplace harassment are not sufficient to punish harassers. The act of workplace harassment/violence on the job is considered a legal and ethical issue. According to Ontario law, employers, managers, and unions have to thwart actively and monitor occurrences of workplace harassment to be in compliance with the “Ontario human rights code.” (Labour, 2015) Additionally, employers must also provide training on workplace harassment when they hire new employees.......

Words: 1480 - Pages: 6

Economics

...------------------------------------------------- WORKPLACE DIVERSITY ------------------------------------------------- (CULTURAL DIVERSITY) SAZIA KHAN SANJA GM410: FOUNDATION OF PROFESSIONAL COMMUNICATION. INSTRUCTION: ROBERT WOODS Keller Graduate School of Management Introduction: The social composition of the world is changing. And the increasing of the globalization demands more interaction with people from diverse cultures religion and background ever before. As a result of that the demography of the world is changing. The word becomes a single market place. Anyone with a cell phone or access to the internet is a potential customer. In today’s global economy traditional barrier are disappear. So being increasing the opportunity as well as competition if the company wants to compete effectively and globally, Todays Companies need to realize that they longer have choice.it is now essential to be knowledgeable about and be able to communicate with people of different nationalities cultures and religions. Corporation realizes that they must embrace that diversity in the workplace brings. What is Work place Diversity Workplace diversity refers to the variety of differences between people in an organization. That means diversity encompasses race, gender, culture, ethnic group, age, personality, cognitive style, tenure, organizational function, education, background and more. Diversity not only involves how people perceive themselves, but how they perceive......

Words: 1397 - Pages: 6

Workplace Motivation

...Annotated Bibliography Ann, G., Jerry W, G., & Heather S, M. (2009). Organizational change: Motivation, communication, and leadership effectiveness. 21(4), 75-94. This article is discussed about a leader’s ability to influence and motivate an individual employee in the workplace. The article is based on the theory of (Vroom, 1964), (Maslow, 1954), (Skinner, 1971) and widely used goal theory (Karoly, 1993) which explain that motivation is come from a given work environment and how their leader motivate them. It is require skilled manager who can communicate effectively, attend to employee queries, be creative and innovative, plan and delegate task and always follow up with problems solving. This article would be a helpful resource for my research paper because it demonstrates the real and recent research from (Hebda, Vojak, Griffin, & Price, 2007- Motivating technical visionaries in large American Companies) which indicated that the most important motivator was time provided by the management to solve the complex issues. It shows that the leaders need to plan and make fast decision making and create a work environment that bring forth employee motivation. It is reliable as the authors use a lot of reference sources to support the conclusions. This journal article is written by three very experience authors. Ann Gilley is an associate professor of management at Ferris State University where she teaches strategy and management. Her areas of research include change, the......

Words: 2352 - Pages: 10

Pony's Beauty Diary | Colecciones de Advanced Password Recovey. | Ahmad Dhani