Essay on Formalism vs Substantivism Essays

Essay on Formalism vs Substantivism Essays Essay on Formalism vs Substantivism Paper Essay on Formalism vs Substantivism Paper Substantivism and Formalism Essay The Disembedded economy Why might Polanyi claim that disembedded economies are less stable than embedded ones? Does a market society require a certain level of insecurity for its members? How might people find a disembedded economy empowering? Can there be such a thing as a ‘pure’ market society? Is ‘marketization’ a helpful concept with which to understand contemporary capitalism? Industrial capitalism and machines etc were all part of the establishment of the market economy. The motive of subsistence must become one of gain. The merchant makes his profits on the market and prices are allowed to regulate themselves. Such a self-regulating system of markets is what we call a market economy. The transformation to this system is like the metamorphis of a caterpillar- so stark that it is almost not like a continuous process. Machines in a society transform nature into a commodity. Dalton on Polanyi: Material self-gain is institutionally enforced In traditional bands the institutions through which goods were produced and distributed wer embedded in an inseperable part of social institutions, and the economy functioned as by product of kinship political and religious obligations and relationships. economy’ is not a field of experience of which humans have always been aware. Primitive societies are gemeinchaften not gesellshaften. Hunger is not an incentive for production. Classical economics and Marxist socialism came from the industrial revolution. Laissez faire capitalism was created in response to the need for machine technology Burling Economics deals with the material means to man’s existence: Does the good have to be ‘material’ in order to be in the realm of economic? Price of a ticket or the cost of someone’s wages are not material yet are economic. We economize between material and non material ends. Do I work overtime in order to afford myself a DVD or do I refuse the overtime and have more leisure time at home with my family? Polanyi makes the distinction between economics in the substantive sense that’s material, and in the formal sense- rationalizing and calculating. Polanyi says that because we have the market these two aspects come together but they wouldn’t in a primitive economy. Primitives economize too. The materialness is irrelevant. Economics is the distribution of goods and services: But not any goods and services, only economic ones which makes this statement useless. If its to do with price systems then some societies don’t have economics. ‘Economics is the allocation of scarce means to multiple ends’ Draws parralells with Freud and maximizing by sacrificing pleasure for future gain. We need to escape the notion of economic as involved with the material , in order to move on with the discussions. Cook ‘Love distorts indeed, but hate distorts even more’ Substantivist theory built around the market and pre-market societies. Now the pre-market societies are almost extinct. Dalton- the section being dominated by the market principle is becoming enlarged. Bohannan- transitional and peasant economies are mentioned. Frank knight and merville herskovitz debate- herskovitz didn’t understand the economic man. Romantic anti-market syndrome Polanyi-primitive societies, reciprocity and redistribution- alledgedly a conflict-free model. Le Clair- why is there a felt need for a substantivist definition of economics. Polanyi and Dalton- scarcity is solely a function of social organization Anti market ideology. Go against the scientific method of enquiry- test and dismiss Dalton Economic theory cannot be applied to primitive economies Economic theory was influenced by factory industrialism and market organization. The market continues outside of market places in the west It is market organization that compels its participants to seek material self-gain: each must sell something of market value to acquire the material means of existence. Back in the 19th century the economy was a cohesive entity apart from other subsystems in society. Neither government, family or religion controlled market organization. They did obviously affect supply and demand though (eg more fish in catholic countries). When market organization is economy wide it creates a market society in the sense that social organization has to adapt to market needs to allow the sustained provision of material goods and of money incomes with which to acquire goods. A market economy can only exist in a market society society itself is subordinated to the laws of the market’- Polanyi (e. g when labourers wages drop they look for work elsewhere and migrate, so location of population conforms to market registered needs for labour) The market economy is highly decentralized, and this reinforces the atomistic view of society as simply an aggregate of self-interested individuals. William Townsend- hunger makes people work Malthus- natural fertility of humans makes food scarce and population growth brought about wages. Man’s existence requires material sustenance, but not unlimited wants, this is product of social organization. Economic in the substantive sense ‘provision of material goods which satisfy biological and social wants’. Economic in the formalist sense is described by the terms ‘economical’ and ‘economizing’. Denotes a set of rules designed to maximize the achievement of some end or to minimize the expenditure of some means. Substantivists believe that all places have an economy, but formalists believe that all places economize. In primitive economies people do not want profit. Where money is used in a primitive economy, it is not all-purpose money. -cattle/bridewealth. Market economy is unicentric because of the wide variety of material items and labour transacted in the sphere of market exchange. In contrast, primitive economy is multicentric and the dominant centres are organized through nonmarket patterns of intergration such as reciprocity and redistribution. What is a money economy to an anthropologist appears as a market economy to an economist. In primitive economy the basic institutional precondition is absent, the bulk of material income is not derived from, and therefore does not depend on market sales of output. Firth in NG-There is no final measure of the value of individual things, and you can’t make everything have a value in relation to one thing as there are many types of exchange. In primitive societies there are no penalties for non-repayment of loans. Primitive economy is different from market industrialism not in degree but in kind. Cancian Considers the two sides of the argument Formalists- even if a man is maximizing using only the scarcity of his human energy it is still maximizing. So he is economizing. It’s wrong to reject the strategy before trying to balance the equation. Burling-economic anthropology should be the search for the multiple actors that people maximize.

Top 10 WORST Jobs for Your Health

Top 10 WORST Jobs for Your Health Some jobs are more hazardous to your health than others. But here are the top 10  worst offenders, ranked on a scale of 0 to 100, according to data analyzed from the Occupational Information Network. It’s best to know what you’re up against if you’re considering (or working in) one of these fields. Here are the top 10 worst jobs for your health. 1. Surgical and Medical Assistants, Technicians, and TechsWith high risk of exposure to contaminants, disease, infection, and hazardous conditions, assistants in the medical field like these workers are up against an overall unhealthiness score of 57.3.2. Boiler Operators and Stationary EngineersOperating or maintaining equipment can be quite unhealthy. This job scores 57.7 and the top three worker risks include contaminant exposure, hazardous conditions, and exposure to minor burns, cuts, and other injuries.3. Wastewater and Water Treatment Plant and System OpsOperating or controlling an entire water system through mac hines or control boards can be extremely hazardous. With a score of 58.2, the top three health risks include contaminant exposure, hazardous conditions, and exposure to minor burns, cuts, and other injuries.4. Histotechnologists (and histologic technicians)These workers prepare histologic slides from tissue sections for microscopic analysis. Sound simple? The unhealthiness score here is 59, with workers risking exposure to hazardous contaminants and conditions, plus exposure to disease and infection.5. Immigration and CustomsYou wouldn’t think this would be so bad, but immigration and customs officers inspect and investigate everything and everyone that passes through a border. With the constant exposure to contaminants, disease, infection, as well as radiation, this job gets a 59.3 on the unhealthiness scale.6. PodiatryAll those feet expose podiatrists to disease, infection, radiation, and contaminants on a daily basis. This job comes in at a score of 60.2.7. Veterinarians ( and Veterinary Techs and Assistants)Treating animals can be a dangerously unhealthy enterprise when you consider the top three risks are exposure to disease, infection, minor cuts, burns, and injuries, plus exposure to contaminants? 60.38. Anesthesiologists and Assistants, and Nurse AnesthesiologistsAnesthesiologists, like surgeons, are constantly at risk of exposure to disease, infection, contaminants, and radiation. This job scores a 62.3.9. Flight AttendantsNo, it’s not the risk of crashing. The top three health risks to flight attendants are the same old exposure to contaminants, disease, infections, and the minor cuts, burns, and injuries of other professions. The relatively high rate of these risks gives this job an overall unhealthiness score of 62.3.10. Dentists, Dental Surgeons, and AssistantsBy far the biggest health risk in the working world, with a whopping overall unhealthiness score of 65.4. Dental workers are exposed to contaminants, disease, infections, and al so spend an enormous amount of time sitting, which increases health risks considerably.What do you think- want to go another route?  If so, make sure to sign up and get matched with the latest job opportunity!

Womens Human Rights Essay Example | Topics and Well Written Essays - 1000 words

Womens Human Rights - Essay Example This paper is aimed at analyzing the very depth of Canada's women's rights. More specifically, this tackles the history of women's rights in Canada, the benefits that it has given to its populace - both for the men and women, and the comparison of Canada's women's rights versus that of the other countries. The United Nations' Charter protected the equal rights of women. The human rights of women is one of 12 critical areas of concern in the Platform for Action adopted at the Fourth World Conference on Women in Beijing and was further elaborated at the 42nd session (1998) of the UN Commission on the Status of Women (http://www.dfait-maeci.gc.ca/foreign_policy/human-rights/Iwe2-rights-en.asp, 2006). Canada was one of the first countries to sign and ratify the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW), adopted in 1979. CEDAW introduced a gender component to the rights outlined in other international human rights treaties. It sets international standards for eliminating gender discrimination (http://www.dfait-maeci.gc.ca/foreign_policy/human-rights/Iwe2-rights-en.asp, 2006). This human rights of women remains a central foreign policy priority for Canada, both in bilateral discussions and in multilateral forum. Canada has been working so hard make women's human rights a strong focus of the Commission on the Status of Women and the Commission on Human Rights, and Canada has actively promoted the integration of the human rights of women throughout the UN system (http://www.dfait-maeci.gc.ca/foreign_policy/human-rights

Asset Pricing Issues Assignment Example | Topics and Well Written Essays - 1000 words

Asset Pricing Issues - Assignment Example are likely to remain the subject of legitimate interest far into the future. In other words, they will continue to be useful in helping us understand not just financial markets but also human behaviour and psychology. An example of the many issues facing researchers is the shape of the security market line which, according to the capital asset pricing model, reflects the most efficient portfolio that would give the best return for a certain level of risk. As recounted by Campbell (2000, 1528-29), changes in the slope of this line led to several hypotheses that were attempts to discover the patterns of behaviour of such data. Amongst the conclusions that continue to influence equity markets is that of the significant contribution that small firms make to market returns. The digitalisation of data and the increasing power of number-crunching computer technology in the last twenty-five years certainly helped not only in gathering data and improving its integrity, but also in the develop ment of mathematical models that somehow helped explain the data. Second, many models have been developed in response to the data. ... Coming in the form of equations (packed with Greek letters), these models help us to understand the reality that is captured by actual data. Several of the studies enumerated by Campbell (2000) helped in the development and our understanding of financial markets in the last twenty-five years. We are warned, however, on a point of caution implicit in the use of market data, especially as more academics attempt to find any observable patterns that are market anomalies (over-reaction and contrarian profit-making, month- or day-of-the-week effects, etc.). One key issue is the rationality (or lack thereof) of market investors and its connection to the integrity of the data. The continuing debate over the efficiency of capital markets between believers (Fama & French, 1998) and behaviourists (Shiller, 2000) call into question whether rational investor behaviour give rise to random data that irrational investors (as most investors are characterised by behaviourists) turn into predictable (a nd therefore, non-random) data through an act of rationality. Third, the analysis and discussion of data and models have improved our understanding of the sources of risk, the economic forces that determine the rewards for bearing risk, and the factors that determine the over-all level of asset prices. The different asset pricing models have taught the investing public, businessmen, and public policy-makers several important and overwhelming lessons, such as: first, there is no such thing as a free lunch, and second, that the fluttering of a butterfly's wings in Argentina can bring down the management and the stock price of a company. What the first lesson teaches us is that the

Advertising Strategies Essay Example for Free

Advertising Strategies Essay Advertising Strategies Advertising is used as a means to attract the buyer to follow a brand. There are many different advertising techniques that can be used depending on the demographics of the target market. As a 14-year-old, marketers have to understand what people my age like when it comes to advertising. For an advertisement to be effective for my age group, it needs to appeal to the audience. There are three main types of advertising used for people my own age, and they are celebrity power, lots of action, and the use of attractive women. Celebrity power is one effective form of advertising used for young teenagers. Because of the stage of life that I am currently at, I tend to look up to people who are famous. Most teenagers like to idolize musicians, sports players, and film stars. I am no different in this manner because I do associate myself with my favorite celebrities and try and follow them. If one of my idols is advertising a product, then I am more likely to pay that product some attention. I think that if my favorite celebrity is endorsing a product, then to be a true fan I should start buying that brand. This type of advertising is one of the oldest in the book, but it is also very effective for young people who are searching for an identity. Advertisements that have lots of action are also very popular with my age group. As a teenage boy, I enjoy watching television with great action scenes. This could either be a fight scene or a car chase. Marketers know that people my age like to see lots of action because it gets the adrenaline pumping. I am no different in that I enjoy watching advertisements that include a lot of action. There does not have to be much dialogue or any key message, just the inclusion of action appeals to young boys my age. Unlike the use of celebrities, using action sequences is a type of advertising that only works with males, particularly those around my own age. The third type of advertising that is effective for my age group is the use of sexy women. The saying that sex sells is a well-known one and it has been used ever since advertising first existed. The use of a pretty lady can set something going inside of teenage boys that make them take notice of the  advertisement. Scantily-clad women may be offensive to young females, but to guys like me it can make all the difference when it comes to advertising. I think that the use of attractive women will continue to be used by marketers because they know that it is an effective strategy and plenty of young men will approve of it. We are all bombarded by advertising every single day of our lives because marketers know the opportunities that it can bring. More than this, they also know that advertising can be extremely effective when trying to sell a product or service. For young boys of my age, this is no different. The advertising techniques used to attract people my age can be different from other target markets. The three main advertising strategies that are used to target someone like me are the celebrity factor, action sequences, and the inclusion of attractive young women.

The Dream Team Era Essay -- essays research papers fc

The Dream Team Era During the summer of 1992, the NBA took center stage as the world watched the greatest team in sports ever assembled joke, pose, and finally play its way to the gold medal at the summer Olympic games. The team was named the â€Å"Dream Team† and it featured eleven of the NBA’s best players. Names like Michael Jordan, Earvin â€Å"Magic† Johnson, and Larry Bird headlined the games and the play of Scottie Pippen and â€Å"Sir† Charles Barkley stole the show. After only eight games, the world of USA basketball would never be the same. Since 1992 two more teams called themselves the â€Å"Dream Team† and two were simply labeled as â€Å"Team USA† but one thing is for certain, International basketball has taken a step in the right direction thanks in part to the NBA and its Dream Team era. Over time the faces of those players may have changed, but the goal has always stayed the same and that’s the goal of bringing home the gold medal. After dominating men’s Olympic basketball for years, the men’s USA basketball team lost to the USSR in the 1988 Seoul games which cost them a shot at winning the gold medal, but they did come home with the bronze. The United States Olympic committee decided that since the rest of the world were sending their best players into the Olympic games that when it came to basketball it was time for them to do the same. The decision was made in 1989 to allow players from the NBA to represent their country in the 1992 Barcelona games. That one decision was the most important decision in the history of international basketball with one goal in mind; to put together the best possible team that they could. The goal of putting a great basketball team of NBA players together seemed impossible especially when it came to dealing with the egos of today’s athletes, but what seemed impossible became a reality. Established veterans like Magic Johnson and Larry Bird and future Hall of Famers/MVP’s like Michael Jordan and best friend Charles Barkley were added to the team. Big men David Robinson and Patrick Ewing were added to control the paint and guards Clyde â€Å"The Glide† Drexler and John Stockton were added to run the show. The man picked to coach the team was Chuck Daly who had won two of the last three NBA Championships with the Detroit Pistons. Knowing that no other team would ever be as potentially great as this one, sportswriters around the world dubbe... ...could secure an 85-83 win, but only after Lithuania’s game winning shot fell short at the buzzer (Games). Even though Team USA wasn’t as star-studded as the previous two Olympic teams, they still achieved the goal of winning a gold medal, but the path that they took to get there was much tougher than the path of teams in the past. With that being said, Team USA helped the United States Men’s basketball program to reach 109 wins with only two losses spread across 14 different Olympic games. Despite the fact that the era and aura of the Dream Team was destroyed, the memories of the games will live on forever. Names like Michael Jordan, Charles Barkley, Shaquille O’Neal and Vince Carter will always be remembered for having great NBA careers, but also for bring home the gold medal for their country and doing it with a class and a grace that will never be seen again. Works Cited â€Å"Games of the XXVth Olympiad—2000.† 17 Oct. 2003 Taylor, Phill. â€Å"Slam Dunk.† Sports Illustrated August 1996: 48-53. The Dream Team: Simply the Best. Videocassette. Xenon Entertainment Group, 1997. 73 min. USA Basketball: â€Å"96 Olympic Gold.† Videocassette. CBS FOX Video Sports, 1996. 50 min.

Implications of the Bertrand Model

In 1893 French economist Joseph Bertrand developed his Bertrand model of competition from his review of Antoine Cournots study of a Spring Water duopoly. His criticism lay with how firms in oligopolies compete. In his model firms compete with prices rather than Cornots quantities. (REFERENCE TO SPANISH JOURNAL) The model consists of two firms who set prices simultaneously and independently (HUGH GRAVIELLE AND AY REES, MICROECONOMICES), jean tiral explains this as when one firm sets its price it is ignorant to its rival’s price, rather it â€Å"anticipates† what they will charge. It is assumed products are homogeneous and perfect substitutes (ECCSTRAT) and due to the nature of the product the firm supplying output at the lowest price will gain the entire market demand. (GB! ) This firm will have to supply all the forthcoming demand at the price they have set; gb1 from this an important assumption of the model is that there are no capacity constraints, that both firms have the same marginal cost, which remains constant, and that demand is liner. GB2 As stated, the entire market demand for homogeneous products will go to the firm offering the lowest price, although if both firms were to sell at the same price â€Å"a sharing rule must be assumed† GB2. Using an example from the ((((((( lets suppose the market demand for a homogeneous product is given by, Q = 120-p (where Q is quantity demanded and p is price charged). The marginal cost (MC) for both producers is, C=$30, and both producers sell output at p=c=$30. The demand for each producer is Q=0. 5*120-p=45. Lets say producer A increased their price to c=$31, the entire market demand would transfer to producer B who would now have a demand function of Qb=120-c=90, while producer A would have zero demand. However if producer A had reduced their price to c=$29, they would capture the entire market demand through charging the lowest cost, however they would make a $1 loss in each product sold. From this, the Nash equilibrium for the Bertrand model lies where P=MC, with demand so heavily influenced by price producers do not want to be undercut by rivals. With P=MC no rival will undercut as zero profits are preferable to negative profits, and any firm trying to charge above the MC and make positive profits will receive no sales. The suggestion is the addition of one firm restores perfect market competition (Jean Tirole, 1998), moving the market form monopoly power and profits (maximum inefficiency) to perfectly competitive (maximum efficiency). It had been deemed a paradox as it is difficult to believe that two firms in a duopolistic market can make zero profits. We are able to resolve Bertrand’s paradox through relaxing and of the three integral assumptions of the model (intro to industrial org l. M. B Cabrail). In order to analyse its practical relevance and its implications, this essay will now give examples of where the paradox can be deconstructed. The first example of a solution comes from a combination of two assumptions, the first is the absence of capacity constraints, and the second firms make decisions independently. In the model whichever firm firm is charging the lowest price will receive the entire market demand, and is â€Å"expected to supply all forthcoming demand at the price it has set† (old xavior). There are few situations in the real world where one firm could satisfy the demand of the whole market. Using the previous example, producer B gained the entire market demand (Q=120-$30=90). Let’s assume producer B has a capacity constraint below 90 units. There is now a proportion of the market that can only be satisfied by producer A, who can use monopoly power and make positive profits as the only producer. (managerial Economics a strategic approach). This example shows how with the inclusion of a common real world problem, Bertrand’s proposed equilibrium of price equal to marginal cost is deconstructed. A second implication of capacity constraints is their effect on collision between firms. Collusion reduces market competiveness, firms tactically agree to set prices above particular levels and to not to engage in price wars,(REF). A positive relationship between excess capacity and collusion was identified by David and Deneckere, who found excess capacity is a â€Å"prerequisite for stable collusion† while it provides a â€Å"stronger bargaining position within cartels† (QUOTE TO JOURNALS THAT ARE ON JUIBILEE AND WOLF). These effects have been see in oil cartel OPEC, which has existed since the second world war and where the largest producer, Saudi Arabia can flood the market if small producers â€Å"cheat† on their quotas. (paul Pijush). Through years of controlling supply and therefore price the carte will receive one trillion dollars in revenues this year, (Wall street post). The prisoners dilemma is â€Å"a particular game between two captured prisoners that illustrates why cooperation is difficult to maintain even when mutually beneficial† (REF). It helps to demonstrate the logic behind Bertrand’s Paradox. Both firms would benefit from charging a price higher than marginal cost, however at this level both firms have an incentive to undercut one another. (managerial economics). If the rules of the game can be changed each agent would receive a higher revenue payoff. (Global Business Mike W peng). Two companies who saw this were General Electric (GE) and Westinghouse. In the early 1960s these two companies controlled over 98% of the US market for large turbine generators. Prior to purchase, electric utilities would negotiate with GE and Westinghouse who, as in Bertrand competition, competed on price. Government owned utilities accounted for twenty five percent of the market share and by law had to purchase from the cheapest provider and publish the price. The two firms generated low profit, as Bertrand competition predicts, until GE ‘changed the rules of the game’ by introducing a price book. The process effectively set a higher market price and guaranteed higher profits, the price publishing behaviour continued successfully until 1975 when the US Department of Justice investigated the industry. Price books were ruled to breach anti-competition laws and the firms were fined. The book, Technology and Transformation in the American Electric Utility Industry by Richard F. Hirsh goes into this example in much greater depth. This is an important example as it demonstrates that Bertrand competition can exist in the real world. However the assumption of zero profits, or in the example, low profits encourages companies to collude to set higher prices and make positive profits. The Bertrand model also assumes that with the entrant of a second firm into the market, and the subsequent Nash equilibrium, price equal to marginal cost, removes the need for policy makers to intervene. However form the previous example this is obviously false as policy makers did have to intervene and sanctions were made. To stress this point, another example; Pakistan’s Federal Cabinet moved powers of oil price fixation to the Oil Companies Advisory Committee in 2001, through flawed polices profits of the duopolists Pakistan State Oil and Shell Pakistan increased by 232% between 2001 to 2005. which lead to further state involvement to enforce price restrictions and encourage competition. (competition reporter. 25,05,2009). In the Bertrand model we assumed that both firms had the same costs of production which remain constant. It is an extreme assumption that two firms would incur exactly the same costs when producing their products, let us now assume that one firm had a cost advantage, i. e. firm A can produce marginally less expensively that firm B (cA

Moral Reasoning across Cultures Essay

Moral reasoning involves an active critical thinking process that evaluates reasons for ethical beliefs (Sunar, 2002). Sometimes individuals may be skeptic about issues related to morality. However, these same people seek to relate their moral opinions with tangible reasons. By doing this, they try to prove the issues that encompass ethics but often end up making common fallacies in moral reasoning. The universal acceptance of moral reasoning or arguments becomes rather problematic as culture seems to play a critical role in the way individuals make moral judgments (Sunar, 2002). To fully appreciate the difference in moral reasoning across cultures, it is important to examine some of the moral questions that have drawn serious debates in history. These moral questions such as euthanasia, abortion, same-sex marriages have been a hurdle due to the differences in cultural practices and beliefs which make some individuals to view an issue as morally correct or morally wrong (Sunar, 2002). But at the same time, there are principals that are universally accepted across cultures and this makes moral reasoning, to some level, be homogenous in intercultural dimensions. Morality can be viewed differently across different psychologists. To evolutionally psychologist, morality is an issue of inheritance implying that if the parents had poor morals, the offspring will not escape but inherit the genes of poor morals (Sunar, 2002). Cognitive psychologists may differ and claim that morality is entirely learnt where a child develops character and morals through experiences and role-taking. The difference in their explanations comes in due to the attempt to answer the disconcerting question on why moral reasoning tends to differ across individuals, gender and cultural levels (Sunar, 2002). There are diverse and pervasive cultural differences in moral principles across cultures, an issue that has made serious debates among cross-cultural psychologists (Sunar, 2002). The thinking of cognitive psychologists as observed in Kohlberg’s cognitive-developmental theory seem to be applicable only to the Western people with liberal values and individualists social forms. In this perspective, social constructionists have given a strong critique on the cognitive-development theory in the understanding of moral reasoning (Bucciarelli, Khemlani & Johnson-Laird, 2008). The social constructionists maintain that every culture is entirely unique with distinct moral systems and meanings and the comparisons in their moral reasoning does not make sense. This argument can be supported by the number of states legalizing abortion. Countries such as Malta, El Salvador and Chile have made abortion to be illegal no matter the condition or the purpose of the procedure (Pregnant Pause, 2002). On the other hand, countries such as Belgium, Belarus, Australia, Bosnia, Cambodia and China have made abortion to be a legal practice for a number of reasons such as social or economic reasons (Pregnant Pause, 2002). A different perspective is held by evolutionary psychologists, psychoanalytic psychologists and cognitive-development psychologists. They all argue that moral reasoning should be uniform across cultures. Psychoanalytic theory claims that the internalization process is deeply rooted in the conflicts between the social life requirements and the individual desires. These factors tend to be universal and therefore moral reasoning is uniform across cultures. Cultures such as same-sex marriages that used to be predominantly in Western countries are slowly finding a place in African countries (Bucciarelli, Khemlani & Johnson-Laird, 2008). This shows that moral reasoning is similar across cultures. Another element of similarities across cultures is the manner in which social institutes such as marriage are conducted. Punishments for poor marriage practices and rewards for good conduct have been shown to increase the observance of the moral principles regardless to cultural differences. Generally, the issue of moral reasoning tends to be both uniform and different across different cultures. There are moral principles that are universally acceptable and some practices will be known to be wrong among all cultures. However, some practices tend to have cultural boundaries where some countries or ethnic groups may restrict certain practices while others allowing the practices. These factors make moral reasoning to differ across cultures. Reference: Bucciarelli, M. , Khemlani, S & Johnson-Laird, P. N (2008). The psychology of moral reasoning. Judgment and Decision Making. 3 (2):121-139. Pregnant Pause (2002). Summary of abortion laws around the world. Retrieved July 15, 2010 from http://www. pregnantpause. org/lex/world02. htm Sunar, D. (2002). The psychology of morality. In W. J. Lonner, D. L. Dinnel, S. A. Hayes, & D. N. Sattler (Eds. ), Online Readings in Psychology and Culture (Unit 2, Chapter 11), Retrieved July 15, 2010 from http://www. ac. wwu. edu/~culture/Sunar. htm

Employee Satisfaction at Emirates National Oil Company

Employee Satisfaction at Emirates National Oil Company Introduction Employee satisfaction is a critical element in organisations’ pursuit for success. Therefore, organisational leaders are obliged to foster a high level of employee satisfaction to attain optimal ordinary performance. One of the most important areas of strategic management that organisational leaders should focus on in order to nurture a high level of employee satisfaction involves human resource.Advertising We will write a custom research paper sample on Employee Satisfaction at Emirates National Oil Company specifically for you for only $16.05 $11/page Learn More Different studies on improving organisational performance have been conducted. Some of these studies have focused on integrating effective operational strategies. However, it is imperative for organisational leaders to nurture an environment that motivates its workforce (Bockerman Ilmakunnas, 2012). The level of employee productivity is subject to the level of job satisfaction. Naseem, Sheik, and Malik (2011) further opine that the level of employee satisfaction influences the extent to which customers are satisfied, and hence the firms’ financial performance. Company profile The Emirates National Oil Company [ENOC] was founded in 1993 in the United Arabs Emirates (UAE). The firm is wholly owned by the Dubai government and it is a critical institution in UAE’s quest for sustainable development and economic diversification. The firm specialises in the development of upstream and downstream operations within the gas and oil sector. ENOC intends to be the most profitable government-owned entity by integrating social responsible practices into its workforce and the overall society (ENOC, 2014). ENOC is focused at attracting, developing, and retaining a talented workforce, hence positioning itself as the employer of choice. ENOC intends to achieve this goal by integrating ethical business practices and integrity into its operations (ENOC, 2014). The firm has adopted an extensive Code of Business Conduct, which emphasises a number of core values such as integrity, teamwork, respect, transparency, and customer focus (ENOC, 2014). These aspects show that the firm is committed at nurturing an enabling working environment. Research objective This research paper evaluates the impact of employee satisfaction on the ENOC’s profitability. In order to achieve this primary objective, the research focuses on a number of aspects that are related to employee satisfaction. Some of these areas are illustrated by the following secondary objectives.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To evaluate how employee satisfaction influences the level of motivation amongst ENOC’s employees. To examine the ENOC’s reward management practices and their impact on employee productivity To assess ENOC employeesà ¢â‚¬â„¢ level of satisfaction and their impact on customer satisfaction, and hence the organisations level of profitability. Literature review Employee satisfaction and customer satisfaction Most profit-oriented entities are focused on maximising the level of profits. Daft (2008) defines profitability as â€Å"an organisation’s capacity to generate profit within a particular period of time using its resources† (p. 82). Human capital constitutes one of the essential organisational assets. However, the level of profitability is determined by diverse factors. Some of these aspects relate to the organisation’s technical, structural, and human aspects (Allen Wilburn, 2002). Tarigan and Widjaja (2011) define employee satisfaction as the employees’ general attitude towards their job. Employees who are highly satisfied with their job are likely to portray positive attitude as opposed their disgruntled counterparts. Employee satisfaction constitutes a fundamenta l element in organisations’ long-term existence. Bockerman and Ilmakunnas (2012) argue that lack of employee satisfaction is one of the main reasons that explain the source of poor job performance, absenteeism, and employee turnover (Mbah Ikemefuna, 2012). However, some organisational leaders have not understood the impact of employee job satisfaction on the overall organisational financial performance. Conversely, some organisational leaders do not have sufficient knowledge on the policies that can be integrated into their strategic human resource management practise in order to enhance employee satisfaction. Naseem, Sheikh, and Malik (2011) assert that employee satisfaction is a multi-factorial construct, which means that it is comprised of three main categories of actors. These factors include the basic factors, performance factors and excitement factors (Lussier, 2012). The basic factors involve the minimum job requirements, which if not addressed can increase the level of dissatisfaction amongst employees. On the other hand, Shahzad et al. (2013) assert that excitement factors â€Å"increase employee satisfaction while performance factors result in satisfaction only when performance is high† (p. 167). Hellermann (2006) corroborates that employee satisfaction is strongly correlated with productivity, and hence a firm’s profitability. Despite this realisation, some studies show that there are situations whereby employee satisfaction is not positively correlated with the level of profitability. For example, some studies have identified a negative relationship between employee satisfaction and the level of gross profit (Bernhardt, Donthu, Kennett, 2000).Advertising We will write a custom research paper sample on Employee Satisfaction at Emirates National Oil Company specifically for you for only $16.05 $11/page Learn More Customer satisfaction The concept of customer satisfaction has been a major concern amongs t scholars and practitioners in different economic sectors. Its significance has arisen from the emphasis by most organisations as one of their core priorities. Bernhardt, Donthu, and Kennett (2000) assert that the significance of customer satisfaction has emanated from the growing concern on the relationship between customer satisfaction and organisations’ bottom-line performance. Kuballa (2007) argues that most studies have considered customer satisfaction to be directly linked with an organisation’s performance as opposed to employee satisfaction. Additionally, most studies conducted on customer satisfaction have only focused on service quality areas such as tangibility and empathy. Only a few studies have established the connection between the level of satisfaction and performance measures (Chi Gursoy, 2008). Additionally, varied results on the relationship between organisational performance and customer satisfaction have been established. Customer satisfaction is positively correlated with organisational profitability. Conversely, other studies assert that the level of customer satisfaction is not always indicated by an organisation’s level of profitability (Lumley, Coetzee, Tladinyane Ferreira, 2011). The literature review illustrates the existence of mixed results amongst employee satisfaction, customer satisfaction, and an organisation’s level of profitability. According to the findings of previous studies reviewed, the relationship amongst these variables can be correlated positively or negatively depending on the prevailing situation. Despite these findings, an organisation cannot be considered successful if it ignores the element of employee satisfaction (Solanki, 2013). The employees’ contribution to an organisation is determined by their interest or organisational identification.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Subsequently, the significance of improving the quality of the employees’ relationship with organisations, for example, through employee engagement should not be underestimated (Soni, 2013). Organisational leaders can improve employee satisfaction via different strategies. Some of these methods include the fulfilment of the employees’ needs, improving interaction amongst the various levels of management, and adaptability. Furthermore, employee empowerment constitutes a critical aspect in employee satisfaction (Solanki, 2013). Methodology Research design This research paper evaluates the impact of employee satisfaction on the ENOC’s profitability. In a bid to achieve this goal, the study has adopted mixed research approach by integrating qualitative and quantitative research approaches. The choice of mixed research design will enable the researcher to improve the validity and credibility of the study, and hence its relevance to target stakeholders. Moreover, mixe d research design will improve the research findings by providing the researcher an opportunity to gather sufficient data from the field. Jha (2008) argues that qualitative research design â€Å"involves detailed description of situations, events, observed behaviours, and attitudes from different sources such as case studies and correspondence† (p. 45). The quantitative design will enable the researcher to explain the relationship between the research variables numerically and analyse the data collected statistically (Brooks, 2006). Population and sampling The research data was collected from ENOC’s employees who were selected from different levels of management within the organisation. The research respondents were selected using random sampling approach. This approach would provide employees in the top and lower levels of management with an opportunity of being selected (Easterbys of motivator factors entail rewarding employees through non-monetary benefits such as r ecognising superior performance and providing them with an opportunity to progress through their desired career path. In its quest to improve the level of satisfaciton amongst its workforce, ENOC has developed a comprehensive employee training program dubbed ENOC National Development Program. The program focuses on five main training areas, which include functional, professional, leadership, managerial, and behavioural skills (ENOC, 2014).The program is aimed at equiping employees with new skills within the oil and gas industry. The training program is conducted by adopting both on-the-job and off-the-job training program. Furthermore, the firm outsources experts within the oil and gas sector to equip the employees with new skills and techniques. This aspect improves the employees’ knowledge, and hence their ability to cope with the industry trends. Furthermore, the ENOC’s training program has successfully contributed toward improvement in the firm’s service del ivery to its customers. Consequently, the firm has managed to increase the level of satisfaction amongst its workforce, and hence its sales revenues. ENOC has adopted transformational leadership style in an effort to maximise the employees and organisation’s benefits. First, the firm has adopted task delegation as one of its employee engagement strategies. This aspect depicts that the firm’s top management team has nurtured a high level of trust and integrity with the lower levels of management. ENOC’s success in delegating tasks has been enhanced by its adoption of the project-based approach in executing diverse gas and oil projects. In this aproach, ENOC develops a project team that is assigned specific tasks and responsibilities. Furthermore,the project teams are required to meet predetermined milestones within a specific period. This approach provides the firm’s employees with an opportunity to make decisions on the best approach. Subsequently,through task delegation, ENOC has been in a position to improve the effectiveness of its work-design. For example, work design has significantly improved the employees’ job-depth. Rauner, Maclean, and Boreham (2008) argue that job enrichment â€Å"gives employees the freedom to plan, execute and make decisions related to their job† (p. 34). Furthermore, ENOC has succeeded in nurturing an enabling working environment by establishing a collaborative workplace. Collaboration amongst employees in different departments is a fundamental element in improving the effeciency and effectiveness with which employees execute their duties. Collboration improves knowledge and information sharing within an organisation’s workforce. Consequently, an organisation attains synergy hence improving the quality of output delivered to the final consumer. ENOC appreciates that employee satisfaction is directly linked to customer satisfaction. Subsequently, the firm’s top management team associates its strong business results with the high level of employee and customer satisfaction. For example, between 2011 and 2013, ENOC’s sales revenues increased by over 50%, while its profit levels increased by 39% (ENOC, 2014). According to Saeed Khoory [ENOC’s Chief Executive Officer], the firm considers employee satisfaction as a fundamental driver in its growth path and over the past two years, the firm’s customer satisfaction index increased to 77% in 2013, while the level of customer loyalty increased from 61% in 2012 to 65% in 2013 (ENOC, 2014). Employee involvement and recognition comprise another fundamental strategy that organisations can adopt in enhancing employee satisfaction, and hence the employees’ productivity. Hellermann (2006) argues that recognition constitutes an essential element in employee motivation. In its reward management practices, ENOC recognises employees who depict exemplary performance in their job by offering them a wards. Lewis (2007) argues that employee satisfaction plays an important role in enhancing commitment within a workforce. Subsequently, all the employees’ activities are focused at achieving the overall organisational goal. Furthermore, employee involvement significantly reduces the rate of employee turnover, hence minimising the cost of retraining new employees. Furthermore, employee engagement in the decision-making process increases the likelihood of developing a product aligned with the market demand. Therefore, an organisation can be in a position to maximise its sales revenue and hence the level of profitability (ENOC, 2014). ENOC’s focus on establishing a high degree of employee involvement and engagement has significantly improved the firm’s innovative capability. For example, in 2013, the firm received over 1,000 suggestions from its workforce on how it can improve its competitiveness. The firm’s CEO asserts the suggestions generated have enabled the company to improve its operational efficiency and profitability (ENOC, 2014). Conclusion The case study shows that employee satisfaction is strongly correlated with an organisation’s level of profitability. Therefore, organisational managers are compelled to institute effective human resource management policies in order to improve the level of satisfaction. One of the issues that managers should consider relates to work design. The study shows that jobs should be designed in such a way that they contribute towards the employees’ quest for career progression. Some of the work plan techniques that managers should consider include work enhancement, work alternation, and work extension. Job designing provides employees’ with an opportunity to undertake challenging tasks, hence breaking the boredom associated with specialisation. Furthermore, the case study underscores the importance of integrating effective leadership style in order to improve the level of emp loyee satisfaction. Considering the changing nature of the labour market, it is imperative for organisational leaders to integrate transformational leadership style. This style will increase the likelihood of attaining optimal competitive advantage. For example, transformational leadership will improve an organisation’s efforts to establish a collaborative working environment. Consequently, the quality of the final output improves due to of the synergistic working relationship that contributes to information and knowledge sharing. Thus, the probability of increasing and sustaining level of customer loyalty is remarkably improved. Reference List Allen, D., Wilburn, M. (2002). Linking customer and employee satisfaction to the  bottom line: a comprehensive guide to establishing the impact of customer and employee satisfaction on critical business outcomes. Milwaukee, WI: ASQ Quality Press. Bockerman, P., Ilmakunnas, P. (2012). The job satisfaction productivity nexus: A study using matched survey and register data. Industrial Labour Relations Review, 65(2), 1-21. Brooks, I. (2006). Organisational behaviour: individuals, groups and organisation.  Essex, UK: Pearson Education Limited. Chi, C., Gursoy, D. (2009). Employee satisfaction, customer satisfaction and financial performance. International Journal of Hospitality Management, 28(3), 245-253. Bernhardt, K., Donthu, N., Kennett, P. (2000). A longitudinal analysis of satisfaction and profitability. Journal of Business Research, 47(2), 161-171. Daft, R. (2008). New era of management. Mason, OH: Thompson South-Western. Easterby-Smith, M., Thorpe, R., Jackson, P. (2008). Management research.  London, UK: Sage. ENOC: ENOC unveils 2014 growth strategy to accelerate operational efficiency and  Ã‚  profitability. (2014). Retrieved from https://www.enoc.com/en/ Hellermann, R. (2006). Capacity options for revenue management; theory and  application in the air cargo industry. New York, NY: Springer. J ha, N. (2008). Research Methodology. Chandigarh, India: Global Media. Kuballa, J. (2007). Employee satisfaction; a precondition for economic success of  Ã‚  service company. Chicago, IL: GRIN Verlag. Lewis, P. (2007). Management; challenges for tomorrow’s leaders. Mason, OH: South- Western. Lumley, E., Coetzee, M., Tladinyane, R., Ferreira, N. (2011). Exploring the job satisfaction and organisational commitment of employees in the information technology environment. Southern African Business Review, 15(1), 100-118. Lussier, R. (2012). Management fundamentals; concepts, applications, skill  development. Mason, OH: South Western. Mbah, S., Ikemefuna, C. (2012). Job satisfaction and employees’ turnover intention in Total Nigeria Plc in Lagos. International Journal of Humanities and Social Science, 2(14), 275-288. Naseem, A., Sheikh, S., Malik, K. (2011). Impact of employee satisfaction on success of organisation: Relation between customer experience and employee sa tisfaction. International Journal of Multidisciplinary Science and Engineering, 2(5), 41-47. Rauner, F., Maclean, R., Boreham, N. (2008). Handbook of technical and  vocational educational and training research. New York, NY: Springer. Saiyadain, M. (2003). Organisational behaviour. Delhi, India: Tata McGraw-Hill. Shahzad, M., Ahmad, M., Qasim, M., Mushtaq, M., Ferdoos, A., Naeem, H. (2013). Impact of employees’ job satisfaction on organisational performance. European Journal of Business Management, 5(5), 166-172. Solanki, K. (2013). Flexitime association with job satisfaction, work productivity, motivation and employees stress levels. Journal of Human Resource Management, 1(1), 9-14. Soni, B. (2013). Employee engagement; a key to organisational success in 21st  Century. Voice of Research, 1(4), 51-56. Tarigan, D., Widjaja, C. (2011). The impact of employee satisfaction on profitability of restaurants and cafes: A research in Surabaya, Indonesia. International Conferenc e on E-business, Management and Economics, 25(3), 266-271.

Hamlet Summary, Act-by-Act

Hamlet Summary, Act-by-Act William Shakespeare’s play Hamlet takes place in Elsinore, Denmark after the death of King Hamlet. The tragedy tells the story of Prince Hamlets moral struggle after his father’s ghost tells him that Claudius, Prince Hamlets uncle, murdered the king. Act I The play begins on a cold night with the changing of the guard. King Hamlet has died, and his brother Claudius has taken the throne. However, for the past two nights, the guards (Francisco and Bernardo) have seen a restless ghost resembling the old king wandering the castle grounds. They inform Hamlet’s friend Horatio of what theyve seen. The next morning, the wedding of Claudius and Gertrude, the wife of the late king, takes place. When the room clears, Hamlet soliloquizes on his disgust at their union, which he views as a betrayal of his father at best and, at worst, incest. Horatio and the guards enter and tell Hamlet to meet the ghost that night. Meanwhile, Laertes, the son of the kings advisor Polonius, is getting ready for school. He says goodbye to his sister Ophelia, who is romantically interested in Hamlet. Polonius enters and lectures Laertes extensively on how to behave at school. Both father and son then warn Ophelia about Hamlet; in response, Ophelia promises to no longer see him. That night, Hamlet meets the ghost, who claims to be the ghost of the king- Hamlets father. The ghost says that he was murdered by Claudius, that Claudius put poison in his ear while he slept, and that Gertrude slept with Claudius even before his death. The ghost orders Hamlet to avenge the murder, but not to punish his mother. Hamlet agrees. Later, he informs Horatio and Marcellus, one of the guards, that he will pretend to be mad until he can get his revenge. Act II Polonius sends a spy, Reynaldo, to France to keep an eye on Laertes. Ophelia enters and tells Polonius that Hamlet entered her room in a mad state, grabbing her wrists and staring wildly into her eyes. She also adds that she has cut off all contact with Hamlet. Polonius, certain that Hamlet is madly in love with Ophelia and that it was Ophelias rejection that put him in this state, decides to meet the king to concoct a plan to spy on Hamlet in conversation with Ophelia. Meanwhile, Gertrude has asked Hamlet’s school friends Rosencrantz and Guildenstern to try to figure out the cause of his madness. Hamlet is suspicious of them, and he evades their questions. Soon, a theatre troupe arrives, and Hamlet requests that the following night they perform a certain play, The Murder of Gonzago, with a few passages inserted written by Hamlet. Alone on stage, Hamlet voices his frustration about his own indecisiveness. He decides he must figure out if the ghost is truly his father or if it is a specter leading him to sin without reason. Because the play depicts of a king who kills his brother and marries his sister-in-law, Hamlet believes that the performance scheduled for the next night will make Claudius show his guilt. Act III Polonius and Claudius spy on Hamlet and Ophelia as she returns the gifts he gave her. They become confused when Hamlet spurns her, telling her to go to a nunnery. Claudius concludes that the cause of Hamlets madness is not his love for Ophelia, and decides that he should send Hamlet away to England, unless Gertrude can figure out the true cause. During the performance of The Murder of Gonzago, Claudius stops the action just after the scene in which poison is poured into the kings ear. Hamlet tells Horatio he is now certain that Claudius murdered his father. In the next scene, Claudius attempts to pray in church, but his guilt prevents him from doing so. Hamlet enters and readies himself to kill Claudius, but stops when he realizes that Claudius might go to heaven if he is killed while praying. Gertrude and Hamlet have a bitter fight in her bedchamber. When Hamlet hears a noise behind the tapestry, he stabs the intruder: it is Polonius, who dies. The ghost appears again, rebuking Hamlet for his harsh words against his mother. Gertrude, who cannot see the ghost, becomes certain that Hamlet is mad. Hamlet drags Polonius’s body offstage. Act IV Hamlet jokes with Claudius about killing Polonius; Claudius, fearing for his own life, orders Rosencrantz and Guildenstern to bring Hamlet to England. Claudius has prepared letters telling the English king to kill Hamlet when he arrives. Gertrude is told that Ophelia has gone mad with the news of her father’s death. Ophelia enters, sings a number of strange songs, and speaks of her father’s death, insinuating that her brother Laertes will get revenge. Soon, Laertes enters and demands Polonius. When Claudius tells Laertes that Polonius he is dead, Ophelia enters with a bundle of flowers, each one symbolic. Laertes, upset by his sister’s state, promises to listen to Claudius’s explanation. A messenger approaches Horatio with a letter from Hamlet. The letter explains that Hamlet snuck onto a pirate vessel that attacked them; after they parted, the pirates mercifully agreed to take him back to Denmark in return for some favors. Meanwhile, Claudius has convinced Laertes to join him against Hamlet. A messenger arrives with a letter for Claudius from Hamlet, announcing his return. Quickly, Claudius and Laertes plot how to kill Hamlet without upsetting Gertrude or the people of Denmark, with whom Hamlet is popular. The two men agree to arrange a duel. Laertes acquires a poison blade, and Claudius plans to give Hamlet a poisoned goblet. Gertrude then enters with news that Ophelia has drowned, reigniting Laertes’s anger. Act V While digging Ophelia’s grave, two gravediggers discuss her apparent suicide. Hamlet and Horatio enter, and a gravedigger introduces him to a skull: Yorick, the old king’s jester whom Hamlet loved. Hamlet considers the nature of death. The funeral procession interrupts Hamlet; Claudius, Gertrude, and Laertes are among the entourage. Laertes jumps into his sister’s grave and demands to be buried alive. Hamlet reveals himself and brawls with Laertes, exclaiming that he loved Ophelia more than forty thousand brothers could. After Hamlet’s exit, Claudius reminds Laertes of their plan to kill Hamlet. Hamlet explains to Horatio that he read Rosencrantz and Guildenstern’s letters, rewrote one demanding the beheading of his former friends, and swapped the letters before escaping on the pirate ship. Osric, a courtier, interrupts with news of Laertes’s duel. At the court, Laertes takes up the poisoned blade. After the first point, Hamlet refuses the poisoned drink from Claudius, from which Gertrude then takes a sip. While Hamlet is unguarded, Laertes wounds him; they grapple and Hamlet wounds Laertes with his own poisoned blade. Just then, Gertrude collapses, exclaiming she has been poisoned. Laertes confesses the plan he shared with Claudius, and Hamlet wounds Claudius with the poisoned blade, killing him. Laertes asks for Hamlet’s forgiveness, and dies. Hamlet asks Horatio to explain his story and declares Fortinbras the next king of Denmark, then dies. Fortinbras enters, and Horatio promises to tell the story of Hamlet. Fortinbras agrees to hear it, declaring that Hamlet will be buried as a soldier.

Assignment 1 Essay Example | Topics and Well Written Essays - 2500 words

Assignment 1 - Essay Example In fulfillment of the National Training Framework’s purposes, Vocational Educational Training or VET now comes in various forms provided by employers, private training companies, community based organisations, secondary schools and higher education. These entities strive to serve students to prepare them for work in the real world. The â€Å"VET in Schools† program offers students to undertake one of three models of practical work-related activity. One is for full time students to participate in a training program offered by the school or a public or private training provider; another is for students to secure a trainee-ship or apprenticeship with a contract and paid employment while still a student in a school; or students may work part time out of school hours with a formal, structured training component. (ANTA, 1999) The move towards globalization includes the consideration of multicultural factors affecting learning and development. In Australia, many indigenous students (e.g. Aborigines) drop out of formal school to move towards vocationally-oriented school courses (Schwab, 2001) to enable them to secure jobs soon after compulsory education. This particular population may seek options that will optimize their learning potentials such as courses that appropriately fit their culture. It is important to understand that problems associated with indigenous education are unique. Indigenous culture is devalued and is prone to discrimination. Indigenous children, as a group, are assumed to be unequal to the general school population in terms of intelligence, and as a result, expectations are considerably lower (Reynolds, 2005). Gutman (1992) in the context of research involving students in two Brisbane school found that: â€Å"Teachers who have low expectations of what Aboriginal students can achieve academically are doing them a disservice† (p.