How businesses are established abroad- When developing your business in a foreign market or region, you might consider establishing a more substantial operation. This can be for a variety of reasons such as lower costs, increasing market penetration, improving customer service and complying with government regulations. Most firms only set up an overseas operation after testing the market. This can be a logical progression from working with an agent or distributor as a company grows its sales. There may be...
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The robotics revolution has started! Since robotics have been manufactured, the efficiency and productivity in working conditions are growing rapidly. They formed a huge leap in our lives as they became part of many workplaces. Moreover, they can implement a wide variety of tasks successfully in a record time compared to human performance. Also, they are playing a pivotal role in helping laborers in their work to be faster and more effective. “When automation or computerization makes some steps in...
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Education is the hope for the development and success of most third world countries and the world dominates the country. Compulsory education creates a space for better growth and development. Education has the potential to completely change the course of a country: to train trained and educated young people. A country achieves its goal of economic growth at a higher rate and joins the list of alliances known as developed countries. A well-educated country will discard any obstacles that hinder...
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The COVID-19 pandemic has led to huge social and economic upheaval globally. In March 2020, the US 10-year breakeven rate (the market-implied average inflation rate over the next decade) reached 0.55%, when the world was peering into a deflationary abyss. Fast forward a little over a year, and investors have flipped from fears of persistent deflation, to fears of persistent inflation at levels not seen since before the Global Financial Crisis. The threat of sustained higher inflation not only has...
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Karl Marx is undoubtedly the most prominent and well-known figure in anti-capitalist literature. His most famous piece of work, ‘The Communist Manifesto’, goes into very close detail about the class struggle and the exploitation by the few of the many. This essay will go into detail about Marx’s characterization of the relationships between classes in capitalist society. By looking at his thoughts on economic, social, and personal implications of the relationships between different classes in capitalism it will be much...
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In an interview with the Harvard Gazette, Zuboff defined surveillance capitalism as “the unilateral claiming of private human experience as free raw material for translation into behavioral data; these data are then computed and packaged as prediction products and sold into behavioral futures markets business customers with a commercial interest in knowing what we will do now, soon, and later”, a practice that she goes on to define as just too lucrative to resist (Laidler, 2019). Surveillance capitalism can be...
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Compensation is an indispensable and widespread thing of the management procedure of each organization. Most corporations choose to fulfill their mission, gain their objectives and maximize return on their investment, especially on their human capital. Doing so requires that their compensation philosophy, design, transport and decisions be balanced, fair, focused, and understood by using their worker and plausible worker constituencies. Compensation is an indispensable and widespread thing of the management procedure of each organization. Most corporations choose to fulfill their...
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Capitalism as a self-destructing political, economic and social system is central to the understanding of Marx’s ideologies. By critiquing a structure that shapes the lives of many populations today, his work proves to still be extremely significant in offering an insight into capitalism and its implications. However, this assumption of capitalism inevitably self-destructing is one of which that is debated amongst scholars, usually in the light of how applicable it is in today’s societies. By examining his primary theses, I...
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Rewards and compensation play a vital role in motivating employees and improving performance in organization. A cautiously designed reward and compensation system can significantly increase the performance of employees resulting in organization's effectiveness and productivity. With the changing scene in the world of work today, a multifaceted reward and compensation system is required to meet the demands of the employees. According to Watson (2003) a reward is usually something valuable, such as money. Rewards serve in various ways in organizations....
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The debate over how humane capitalism is and most probably will be never completely settled. However, in a lecture at Cornell University in 1977, Milton Friedman provides a different perspective. One that does not fault the systems of the economy itself, but the results the system encourages and the role of individual morality. He touches upon the social injustices that result from the economic systems and the benefit of voluntary exchange. Friedman is able to convey through analysis of different...
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Corruption is everywhere and will always be a part of our daily life. Whether it is minor, such as bribery, or a major one, like money laundering, we can’t deny its existence. According to Bardhan (1997), “Corruption is defined as the misuse of public power for private benefit” (p. 27). In the Philippines, the infamous and most extensive type of corruption is political corruption, which we hear and see almost every day on the news. Not only major politicians are...
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There are different operations, strategy, beliefs, and principles that guide every economic structure. The principles and ideas that are dominating in such territories determine the type of system in operation. Capitalism vs. communism are two contrasting economic systems which are applicable in different places. Majorly, the difference between communism and capitalism is that the formal support equality in society by making economic services owned and controlled by the community, whereas the latter seeks to privatize production activities. Definition of Communism...
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Compensation and benefits refer to the benefits a firm provides to its employees in exchange for their labor. Compensation and benefits are thus a key part of human resource management. Compensation and Benefits is two different concepts. Compensation is the crucial part of every job. When every person receives a job offer, the first thing they look at is the salary. Whether the recruiter lists the wage as an hourly, weekly, monthly, or hourly rate, candidates see it as the...
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Today, as thirty and forty years ago, economists debate how much unemployment is voluntary, how much involuntary, how much is a phenomenon of equilibrium, how much a symptom of disequilibrium; how much is compatible with competition, how much is to be blamed on monopolies, labor unions, and restrictive legislation, how much unemployment characterizes ‘full’ employment. A concept of full employment more congenial to economic theory is labor market equilibrium, a volume of employment which is simultaneously the amount employers want...
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Democracy and market capitalism are two partners, although there are ample to benefits of their relationship yet market capitalism has extraordinary influential impact on the outcomes of country’s democratic status. The voting system in countries make them more democratic and the term market capitalism means private enterprises where monetary entities are people or other ventures. Some people believe that relationship between democracy and market capitalism is mutually fair but I think that there is need to improve that because it...
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The compensation models used in digital marketing are commonly used online to motivate customers to have a look on the product or brand. The compensation models that I will be outlining are cost per thousand (CPM), cost per click (CPC) and cost per action (CPA). Starting with cost per thousand is one of the most common models for advertising online, they set a rate of a thousand views on every advert gets. The downside on this type of model is...
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The Republic of the Philippines has been called the ‘promise of Asia’ and the ‘sick man of Asia’ alternately ever since its search for stability, prosperity and development began (Manrique & Manrique, 2017). This review attempts to show how the use of social media in one country, the Republic of the Philippines, has grown and has been used to encourage political awareness and participation among the Filipino masses. The country is ranked among the most technologically savvy in the world...
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Capitalism had a significant economic and therefore social and political impact on United States society during the years 1919-1941. Capitalism is an economic system that encourages individuals to make profits through investments and the private ownership of goods, property and the means of production, distribution and exchange. Capitalism created economic prosperity for business and industry resulting in an increase in mass production as corporations were unregulated. Capitalism also sparked mass consumerism resulting in a rise in household monetary flow yet...
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Capitalism is a form of economy driven by economic freedom. In this system, private individuals and corporations own capital and independently decide how to use their capital to make profit. They determine which goods to produce, the quantity to produce and try to sell their goods at a profit based on consumer demands. Producers, motivated by making profit, produce new and more desirable goods that address human needs at lower costs. People benefit from capitalism because they have access to...
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Ramon Bong Revilla Jr. is a man from Cavite who followed his father’s footsteps but made a name for himself. He was said to be a defender of the poor and oppressed citizens. He made this claim true by entering the field of the political offices in 1995 when he became the vice governor of his hometown, Cavite. He strongly supported and implemented anti-drug programs as he was the Chairman of the Cavite Multi-Agency Anti-Drug Council (CMAC). With his hard-work...
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Workers’ compensation in Tulsa is very direct. Oklahoma workers’ compensation operates under the no-fault law. This means no matter who is found to be at fault for the accident, benefits for those affected will be paid through workers’ compensation. Receiving the proper health care is crucial. Doing so in a timely manner is also important. First, the sooner you receive treatment the less an employer can say about the injury not being work related. Most importantly, properly recovering from any...
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Reducing the unemployment rate in a country is one of the responsibilities of the local authorities to ensure that the people and producers of the country have sufficient resources. As we all know, unemployment can be caused by two sides, namely demand-side failures and supply-side failures. Therefore, there are two strategies used to address the problem of unemployment namely the demand-side policies, which is to reduce unemployment caused by recession, and the supply-side policies, to reduce structural unemployment. Demand-Side Policies...
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Do you know safety is vital to everyone? Businesses need to start taking employees’ welfare with seriousness. So, business has an obligation of ensuring the employees’ safety is guaranteed. If businesses don’t plan early enough, they might end up spending a lot of money pay for medical expenses and bills relating to the employees’ health? I hope from today the focus will be on safety, safety, and safety. The North Carolina Workers’ Compensation Act…Yes, the compensation policy is something every...
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Let’s first know what’s ‘inflation’; it’s the increase in consumer goods and services price cause of producing several banknotes more than those goods and services itself. Or vice versa, which means there is a production surplus remains from the overall supply, or maybe because of the increase in production cost itself. A lot of causes could lead to inflation. Therefore, we must mention that there are four types of inflation. The ‘normal inflation’, when the population increases the need for...
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Have you ever thought about how inflation can affect us in a financial sense? This paper will go in depth and explain the causes of inflation and how it affects consumer behavior, income, investment, and business. In this paper we will go over the methods on how inflation is usually managed and what standards it meets to raise alarm about the economy. It will also provide explanations to understand news of inflation in an effective way. Inflation is an economic...
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Compensation can be described as a systematic approach to providing monetary value to employees in exchange for work performed. Employee compensation may achieve several purposes in recruitment, job-performance and job satisfaction. It can be defined as all the rewards earned by employees in return for their labor. We have to say that сompensation is divided into direct and indirect components. First type is direct compensation: it consists of pay received in the form of salaries, bonuses and commissions provided as...
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Capitalism and socialism are the two most important systems that along modern history have had an effect on the social structures, economic methods and political position of many nations. Through period of the 18th 19th centuries that two systems of political economy occurred as the primary competitor to each other. Capitalism is in countenance private goods and decentralized economic judgement while socialism is in countenance public or commonly owned goods and centralized economic judgement. Capitalism permits free market interchange without...
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The question of whether or not capitalism is a good or bad system requires that we first define our terms. We will use Milton Friedman’s basic definition of capitalism as an economic system, where private citizens engage in voluntary exchange and cooperation without compulsion from the state, and where the means of production are primarily owned and operated privately for a profit. Friedman attaches a condition to the nature of the exchange, “the essential notion is that both parties to...
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As we all know unemployment has many effects on the individual. Whether you want to apply for a job in your home country or even in another country, unemployment is becoming a big issue that many countries are facing. Whether it’s due to robots doing a more efficient and faster job than humans or maybe even a more precise job than humans, this issue is becoming a worldwide issue that must be solved. And that’s why in this essay we...
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This paper tries to reviews the effects of unemployment in Kenya. How the effects are leading to home breakage, Kenyans are falling into depression. This has made the young people still in school downhearted and wonders if they will fall victim to unemployment. Unemployment cuts across the country in that, in every five people you meet on street one of them, is unemployed despite all the qualifications they possess. Kenyan has failed to reduce the level of unemployment since it...
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