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 all the people, as everyone tends to believe that different conceptualizations of work are accurate depending on their perspective of...
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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, teacher, electrician, cashier, hairstylist, cashier, teacher. In addition, career still has a dictionary term, too. It takes into consideration the...
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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 the world to meet local needs”. This has brought a number of changes to the employment market due to the...
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The Cold War A hot war has physical fighting. In a cold war, there is not. The Cold War refers to the time after WW2 when there were tensions between the USA and its allies and the USSR and their allies. USA Capitalism vs USSR Communism The Soviet Union and the USA had different ideologies (a system of ideas and ideals). The Soviet Union was Communist after the Russian Revolution of 1917 (a forcible overthrow of government in favour of...
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Obesity has been a big problem in the UK because the government hasn’t taken control over the consumption of sugary goods, especially sugary drinks. Market failure is created when the allocative efficiency is not used in its maximum efficiency. So, when community surplus is not maximized, we have market failure. A certain product is either over or under produced. Merit goods will be under supplied, and demerit goods will be over supplied. In market failure, it’s a study about realizing...
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The situation of employment within the world is fast changing in all aspects. New sectors are emerging daily and the ones previously thought as stable are dying out. Permanent types of employment have become challenging and are now replaced by insecure and uncertain self-employment and contract work. Based on the works of Lewchuk and other authors in the book ‘The Precarity Penalty’ (2015), the transformation happening within the nature of work and employment has a significant impact in the lives...
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“Nobody spends somebody else’s money as carefully as he spends his own…”, – Milton Friedman. Taxation, a means by which governments finance their expenditures by imposing charges on citizens and corporate entities, is used according to the ACCA (2013) for one of three reasons: to raise revenue, to redistribute wealth, and to change behavior. This essay will focus on income and wealth taxation in the United States, which makes up 81% of the federal revenue (National Priorities Project, 2015). Most...
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Hong Kong has been relying on its simple and low tax system for several years to attract talent and capital in order to maintain competitiveness. Are there any flaws in our tax regime? In order to investigate the strength and weakness of our taxation system, we have explored seven key criteria of a good taxation system. The purpose is to identify critical issues confronting Hong Kong economy which is related to the weakness of our taxation system so as to...
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Adam Smith was an eighteenth-century scholar eminent as the dad of modern economics, and a noteworthy defender of free enterprise monetary arrangements. In his first book, 'The Theory of Moral Sentiments', Smith proposed the possibility of an undetectable hand—the inclination of free markets to manage themselves by several methods such as rivalry, free market activity, and personal responsibility. Smith is additionally known for his hypothesis of remunerating wage differentials, implying that risky or unwanted employments will in general pay higher...
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Most of the public discussion and literature about economic development and education generally, most especially employment and education, is based on two major economic processes. First, is the interaction between the politically responsive supplies and the demands that are economically motivated in determining the number of schools provided, who can access these places, and the kind of instruction given. Second, is the important difference between private and social costs and benefits of the different educational levels as well as the...
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Many organizations are benefiting from us. They are promoting a lot of unhealthy food at a very low price, taking benefit from it by having us to agree with a ridiculous idea that it’s good for us to purchase these unhealthy products. Big Food Brands like Anheuser Busch, Nestlé, and PepsiCo are responsible for using this tactic manipulating people of America to buy extra of their products. With so many of these unhealthy options at an alarmingly low fee, they...
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Since the catastrophic global financial crisis, which was directly caused by the burst of the housing bubble and mortgage default, in 2008, the Federal Reserve alone has injected roughly 7.6 trillion dollars into the global economy by the end of 2019 in order to facilitate the recovering of the economy and mitigate recessions. An alternative asset which is called digital currency or cryptocurrency emerged in 2009 due to the rising distrust of central banks and the worries over inflation. The...
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One of the most important questions that has to be raised is whether it is right or even ethical for smokers to pay a high amount of tax on tobacco or not. Or even whether individuals who live a healthy lifestyle and don’t smoke are forced to pay a cost for something that they never even did. There are 3 reasons as to why, in my opinion, smokers should pay an extremely high tax on tobacco. Firstly, the most obvious...
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Poverty is an increasing issue in modern day that stems from wealth inequality. Families that hold wealth throughout generations are making an increasing gap in income in the United States which is making the poor even more poor. Poverty can have several negative effects on a person’s long-term health, including heart attacks, inflammatory diseases, and even can attribute to a premature death. While some argue that a more aggressive progressive tax is the best way to solve things, the most...
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In America today, there is a constant conversation about taxing the rich. They’re arguments on both sides of the coin. As of right now, since taxes are based on percentages, wealthy citizens should not be required to pay higher taxes because they fairly earned their money and they should get to keep it. On the other hand, some people believe that wealthy people should pay more taxes because they already have plenty of money so it is nothing when they...
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At the end of 2017, President Trump signed into law one of the largest tax code overhauls since the 1980s. The President assured taxpayers that this bill included a simpler and more reformed tax code, protection for lower- and middle-income Americans and cuts for corporations that would in theory spur investment and economic growth. Once implemented, however, this bill disproportionately benefited higher earners, created loopholes for profitable corporations, increased the federal deficit and did not deliver the high economic growth...
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Aptly described by WHO as an ‘escalating global epidemic’ (WHO, 2002), the burden of obesity on communities is self-evident: an estimated 3 million deaths and 2 trillion dollars in medical costs (Dobbs et al., 2014). To address the challenge member nations have introduced tax policies to regulate people’s nutrition. The phraseology ‘junk food’ is attributed to sugar sweetened beverages and energy dense processed foods and may apply to foods of higher than needed caloric value (Donald et al., 2015). The...
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In this essay I'm going to be discussing the following: why the government has introduced a sugar tax and the results of this initiative, future plans to increase this scheme as well as potential alternate methods to improving the nation’s health without punishing the consumer. The government last year joined the ranks of many other nations around the world in introducing what has been dubbed the 'sugar tax', joining the 'sin taxes' that are already currently in place. This new...
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Tourism is a critical source of income for many countries but for Scotland in particular, it is a major source of revenue. Yet a substantial part of the money made from tourism does not go to the local council or benefit the whole population. Instead, the money is going into the hands of accommodation providers, cafes, restaurants and retail outlets. The government has to pay to repair and build new roads and bridges, maintain schools and hospitals and keep free...
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The federal government collects revenue from income taxes, capital gains taxes, and payroll taxes. Tax rates depend on income types. Income taxes are progressive – that is, initial dollar amounts are taxed at a lower rate and additional dollars are taxed at higher rates. Income from investments (capital gain) is taxed at a flat 15%. Payroll taxes are charged at a flat rate only on the first $113,700 an individual earns. Let’s look at the tax rates for 2012 and...
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Implementing tax on sugar-sweetened beverages was correlated with substantial increase in soda rates and decrease significant consumption of aerated drinks, sweet teas, flavored water, and sport drinks. In Australia people are getting fat since childhood caused by eating too much unhealthy processed food which address complex disease called obesity. World Health Organization (WHO) suggests that obesity is a risk factor for most of non-communicable disease such as type 2 diabetes, cardiovascular disease (heart attack, stroke, hypertension), cancer etc. To improve...
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Globalization is the higher integration, cooperation, togetherness of various nations in numerous fields like defense, trade, business, politics etc. It is the strong interconnection between nations all over the world. Globalization also works in other various essential elements like competitively priced, social and environmental etc. If we speak about economic globalization, it deals with the increasing drift of products and offerings cooperation between economies. It added rapid and unbelievable changes to the life of people. Globalization has affected life styles...
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Automation is a process through which technology and applications are used to carry out the work efficiently and reliably instead of being carried out by humans manually ('What is Automation?', ISA, 2020). Automation helps to efficiently carry out repetitive task which otherwise needed to be done by human manually and by doing so automation helps to save time and cuts down the cost of production or project. The use of automation is diverse in today’s world from defense and information...
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Abstract Today’s rapidly changing world is able to totally restructure the workforce, and employers face severe challenges in workforce management. Diversity management has been a key issue among employers in reaching sustainable growth, employee satisfaction, and retention, talent acquisition. The importance of diversity management can be linked to long-term organizational strategies that will enhance positive corporate reputation and development. However, the term ‘diversity’ can be conceptualized differently and top executives today understand that an organization has to adapt. The current...
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Capitalism is described as an economic and political system in which a country’s a trade and industry are controlled by private owners for profit, rather than by the state. This form of government was dominant in the west and took off after the fall of feudalism, which was wiped out by the French Revolution and the Napoleonic Wars. Capitalism, sometimes called free market economy or free enterprise economy, dates back all the way to the 16th century in European Middle...
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Concept of Compensation Compensation is one way of managing to improve job performance, motivate and improve employee performance. Compensation is important for employees as individuals because the amount of compensation between the employees themselves, their families, and society reflects the size of their work. Compensation is also often referred to as an incentive and can be defined as any form of reward given to employees as a reward for their contribution to the organization. Employee compensation according to Dessler (2006)...
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Part 01- Literature review In this section, at first, we give the definition of bad news and its impact on the employment relationship. Secondly, we describe the process of delivering bad news. Finally, we analyze the delivery of bad news. The delivery of bad news is very difficult in organisation. The people who deliver the bad news may be threatened by the victim (DFTB, 2017). The bad news in corporations' is related with poor performance, customer complaints and termination etc....
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Introduction Inequalities are experienced by everyone, which could be in material and immaterial forms. Social exclusion and economic disadvantage could be some forms of inequalities. In this essay, employment inequalities experienced by Australian indigenous people will be examined. In the past, Australia's indigenous people are recognized as 'human' by the white settlers. They were not protected by human rights and had a low social status; social exclusion was experienced by indigenous people (Lydon 2017). This essay will build an argument...
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Unemployment Rate: the unemployment rate is defined as the percentage of individuals that are not willing or are not able to participate in paid work for a variety of reasons. This is calculated using a method where the number of unemployed individuals is divided by the number of people in the labor force. This percentage is used to compare the levels of employment in different countries to calculate living standards. GDP: The GDP is known as the Gross Domestic Product...
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The phrase income inequality is commonly used in modern-day English around the world; however, do people really know the true meaning of this phrase? Income inequality is something that can harm many upcoming generations and can set standards for different ethnicities within America. Income inequality has many different properties that cause the problem it does. One of the leading factors as to why income inequality is a problem is the lack of education. With a lack of education can produce...
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