The term ‘globalization’ refers to the free and flexible movement of products and services across borders. The process follows an integrated and well-managed manner. It opens a gateway to be a part of the global economy and trade. The globalization directly impacts on the economy of the country as it attracts foreign direct investment by opening global trade opportunities. Furthermore,...
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SME stands for small or medium sized enterprises. Munro D. (2013) touches upon the distinctive requirements a company needs to be defined as one, for example, a company can only be categorized as an SME in the UK if the amount of staff working for them is below 250, and the total amount received from the Statement of Financial Position...
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Where power is the legal, official authority, or influence over others, authority is the moral, legal right, or ability to control. Steven Lukes and Max Weber provide interesting ideas into power and authority. Steven Lukes wrote about 3 dimensions of power: issue, agenda, and manipulation. ‘Issue’ is about a person winning an argument having the power, ‘agenda’ is having the...
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Karl Marx and Max Weber are two men who spent their lives trying to make their dream society a reality. Both of these important sociological contributors were raised in bourgeoise households where they took every opportunity to expand their knowledge, but despite this similarity between them, they were still two very different people. Max Weber felt that society was built...
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Openness of the foreign trade and investment explains the rapid growth of India. Since the Indian government adopted economic liberalization policy in 1990s, improved the employment situation in India. According to the International Labor Organization, the number of Indians in workforce increased by 80 million over the last decade (Economist 2010). The foreign firms attracted by the inexpensive labor cost...
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According to economic theory, economic growth in a given country is possible in only three cases. The first is when investment flows: when capital accumulation outstrips the growth of the labor force, so the share of workers is more capital. This growth is named after the American economist Robert Solow - 'Solovian' growth. The second - economic growth can occur...
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Andrew Clark, in ‘The Breakfast Club’, seems to be the obvious movie jock, specifically a wrestler. He is a popular guy in school, so naturally, he seems to be interested in the popular girl, Claire. He is the movie’s ‘good guy’ – the opposite of bad boy, John Bender. Andrew tries to prove he is a good guy on multiple...
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Development is defined as a pattern of change that begins at conception and continues through one’s lifespan (Santrock, 2018). In this paper I will discuss my observations on five different stages of human development. These five stages include a six-month-old, a two-year-old, a ten-year-old, a seventeen-year-old, a forty-nine-year-old mother, and an eighty-four-year-old. I have applied the knowledge gained in my...
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This short paper will focus on the studies and the beliefs that intellectuals such as Max Weber and John Maynard Keynes devoted their lives to. Theorists and sociologists alike have played a very important part of our everyday modern lives. There works and achievements have allowed us as a civilization to effectively understand how to properly communicate with our environment...
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In life, each individual has a set of goals that he wants to reach. One of those goals is having a good job. In fact, according to an expert, having an employment is the only thing that helps the person develops his life. In contrast, the act of losing a job impacts negatively on the person’s life. Because of normal...
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It is true that the salary is always an important issue in choosing a job. While many people believe that it is better to do a job they hate for a high payment, I agree with those who argue that choosing a job people love even it has a low wage or job satisfaction is more important. There are three...
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Defining Globalization to Know Free Trade Globalization refers to the gradual process of intermingling and increasing interdependence among economies of the world. It refers to the integration of world markets with the domestic economies that allows for free movement of goods, capital and services across nations. Globalization is a major reason behind the emergence of free trade era. Emergence of...
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During the period of 1750 up until about the 1920’s, industrialization changed all of Europe, even while some aspects stayed the same. Industrialization not only changed historically, but it also changed politically, socially and economically as well. The roles of women changed exponentially, as did production techniques, and the growth of the cities in Europe. Before industrialization, Europe was mostly...
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Gold is a lustrous yellow, malleable, chemical element that has a higher atomic number than other natural elements. It has been around practically since the beginning of time and has held its value for most stretches of that time. Gold is of interest today because of said value, and for the fact that it is popular enough to be used...
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The concept of materialism involves predominantly focusing on tangible items over intellectual or spiritual values (‘Materialism’). The majority of today’s adolescents can be identified as the most materialistic generation in history, as many of us are extremely conscious of our social status and our self-worth is driven by our material possessions. However, the obsession of engaging in social comparison with...
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Historians in the 1980s hoped that studies of categories of analysis would illuminate subjects that had previously been obscured. Joan Scott foregrounded gender in particular as one of these useful categories. ‘Gender’ has been widely substituted for ‘women’ in the labelling of this type of history which ultimately makes sense since the same cultural processes produced both ‘women’ and ‘men’....
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As the name suggests, free trade is the unrestricted flow of products, services, labor, and capital across the country's geographic borders without any government intervention on behalf of the economy or regulatory obstacles. The term 'free trade' is often contrasted with 'fair trade'. In the simplest sense, the term 'fair trade' refers to the buying and selling of goods and...
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China’s economy has undergone extraordinary growth over the past four decades. The country was one of the poorest nations worldwide in 1978 with its real per capita gross domestic estimated to be one-fortieth of the US level. However, the nation has become a vital economic power since it opened up to the world following the end of Mao’s rule (Yang,...
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The theory of evolution can explain human development when examining biological adaptations. To begin, one adaptation that supports human development with regards to evolution is sweat glands. Sweating is a cooling mechanism that ultimately keeps the body’s internal temperature stable. The human skin is naked, has no coat of fur and is sweaty which helps one’s body cool down. The...
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Growing up it is often emphasized that ‘Time is gold’. It is a common 'favorite motto' that is usually written in every grade school's journal or diary. Though at the young age I haven't got a clue of what that means until I get to the point that also in high school, I get to comply to lecture requirements. Teacher...
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Dating back to 1880, the nickname ‘Marvelous Melbourne’ was given to our city, this was introduced when Melbourne was progressing into a major world city. This was a result of the Gold Rush. The Gold Rush caused Melbourne to become one of the richest cities in the world. During this time of the Gold Rush, Melbourne expanded rapidly, causing the...
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Employment law is composed of both federal and state laws to ensure that they provide legal protection to employees and employers. It is set up to ensure that legal guidelines and standards are met by preventing discrimination, promote health and safety, establish a minimum for economic support and to prevent work disputes between labor and management. While I was researching...
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Dubai is located on the Persian Gulf, and it is one of the seven emirates that the UAE form. Dubai is the second largest emirate after Abu Dhabi with a population exceeding 1.3 million which makes about 32% of the UAE population (Al Awad, 2008). However, it is ready to expand twice as much if you add the man-made islands:...
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In this paper I am going to answer the following question: “What is the difference between pension and retirement?”. But first I have to start with definitions. Retirement is someone’s withdrawal from active service. In most countries, a worker is said to have retired from service when they have attained a mandatory age or served for a period time in...
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Historians such as Jurgen Kocka have argued that Germany followed a special path of development due to the absence of social and political modernization during economic development. This caused pre-industrial mentalities and structures to remain prominent within all aspects of society. Hence, he argues that this led to an inevitable crisis during the 1930s and therefore, resulted in a logical...
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Oil is a commodity that is desired by multiple players and is essential in order to sustain the needs and lifestyles of consumers, businesses, and employees that depend on the natural resource to heat their homes, transport their products, and generate their paychecks. The top oil and gas companies in the world include Phillips 66, ExxonMobil, BP, and Royal Dutch...
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Work is an important versatile concept of our daily lives. According to Budd (2011), the definition of work is a “purposeful human activity involving physical or mental exertion that is not undertaken solely for pleasure and that has economic or symbolic value”. There are numerous conceptualizations of work as there is no single ‘correct conceptualization’ that would be true for...
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Career has two meanings. Career is mostly used to refer to a chosen profession or employment, or an occupation. Career options encompass a wide variety of occupations from those needing rigorous preparation and schooling to those you can perform with just a high school diploma, ability to learn and work ethic. A profession may mean working as a doctor, lawyer,...
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Democracy is seen as a worthy cause in the world, but there is a lot of debate about the consequences of democracy, the process of democratization and its image of being the most perfect system ever. For example, it is questionable whether democratization brings benefits economically as a given and whether democracy leads to peace. On the other hand, there...
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Globalization has changed the employment market into a multi-cultural one which begs for a clear recognition of cultural differences. These differences need to be understood, recognized and considered especially when implementing HR practices such as recruitment and selection and performance management (White, 2015). As Ulrich (Ulrich, 1998) put it: “Globalization requires organizations to move people, ideas, products and information around...
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