The Economic Success Of The 21st Century - 1483 Words

In the 21st century it is correct to claim that our interconnected world is becoming smaller. With globalization, the nature of economy and politics is vividly transforming. United States is the best example as the trail blazer of the new policies, changes and with that, U.S. is a role model for world’s powers. Looking from the economist’s perspective of how to explain such advantage, open door trade is one of the factors that explain its success. Great number of economists stands unified in support of free trade. This paper will discuss some major points that revolve around the central idea which explains that in order to achieve economic success in today’s world requires free trade, which entails liberalization to attract international†¦show more content†¦(Krugman 1987,131) Free trade supporters make a point that if we don’t move toward liberalization, the gravit y of protectionism and political interests will pull us back-â€Å"bicycle theory†. (Bergsten 1996, 109). The successful example of bicycle moving forward is the Uruguay Round conclusion. (Bergsten 1996, 109). Following that NAFTA and such, have made a significant progress in resolving debate in the international trade arena. Liberalist economists insist that with openness toward international trade, countries benefit in multiple segments and knowledge is one of the major exchanges which are crucial for improvement. ( O’Brien Williams 2013,112) Therefore, it is important to understand liberalist perspective at first. Economic liberalist view human nature acting rational in order to maximize their self-interest. This theory strongly support the thought where individuals when acting rationally create markets which produce, distribute and consume goods function best free. This way international wealth is maximized with exchange of goods and services which is also a compa rative advantage based theoretical aspect. (Mingst Toft, 2104, 310) With Ricardo’s comparative advantage, it’s important to mention specialization of a commodity that a specific country can produce more efficiently in exchange for another commodity. Therefore,

Benefits Of Same Sex Marriage - 1054 Words

Benefits of Same Sex Marriage in Society By: Katherine Collins PSY 2510 Abstract Introduction In 2014, same sex marriage has been legalized in thirty-five US states (AK, AZ, CA, CO, CT, DE, HI, IA, ID, IL, IN, KS, MA, MD, ME, MN, MT, NC, NH, NJ, NM, NV, NY, OK, OR, PA, RI, SC, UT, VA, VT, WA, WV, WI, and WY) and the District of Columbia. There is also fifteen states (AL, AR, FL, GA, KY, LA, MI, MS, MO, NE, ND, OH, SD, TN, TX, WY) have same sex marriage bans through either laws or constitutional amendments. Though most of the states that have bans against same sex marriage has appeals file through the court system so things may change over the next couple of years. Within the states that have legal same sex marriage many things have change in a positive way. The benefit of legalizing goes through healthcare, economy, and society. Gay-rights activism started in the 1970s, focusing more on personal liberation and visibility than on gaining the right to have equal marriage rights. There was little movement to equalize the right to marry, though there were some gay activists that fought for the right to marry in those days. Most others rejected marriage as something heterosexual couples did and not something they needed to be happy. The movement did achieved a big victory in 1973, when the American Psychiatric Association announced homosexuality was not a mental illness and the American Psychological Association also did in 1975.Show MoreRelatedBenefits Of Same Sex Marriage1697 Words   |  7 PagesIndividuals slowly realize, as well as companies that it is a suitable to instate same-sex benefits to same-sex spouses; in the same way, traditional marriages are receiving benefits. Several of the employment benefits that our federal government provides to its employees and their families remain tied to a person’s marital status. 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Ethical Theory Comparison Free Essays

Ethics are a part of everyday life. Dependent on the individuals focus, ethics can be a core value or a term used when needed. This comparison will assist with understanding the morality of individual decisions or choices based on the ethical system inherited. We will write a custom essay sample on Ethical Theory Comparison or any similar topic only for you Order Now Virtue based theories centers on good character behavior, a type of human growth that forms good decision making and control of bad habits. Virtue also creates a format that eliminates moral conflict over time. An individual with strong virtue ethics will make decisions naturally. Correct moral decisions require correct motives. Utilitarianism concentrates on the right and wrong of the end result. It includes the interest of others as well as personal interest. To understand what moral is under this theory simply judge the good and bad of a situation. Unlike deontological ethics, this eliminates the thought of others and creates the image of selfishness. This theory does not set well with common religious followers. (Voytinsky, 2011). Deontological ethics focus on the reason why we do or act. This practice would allow rules to be broken as long as the moral duty is protected. Pain and pleasure will not satisfy action under the theory. Obligations are written in stone. The moral principle is maintained regardless of consequential occurrence. Deontological ethics are common among religious practices. (Cline, 2013). I joined the military at twenty on with strong Christian ties. A recruiter convinced me that my job was non-combative. My worry, of course, was not to harm or kill another human being. Saudi Arabia told a different story. I was faced with; shooting to kill to protect myself and my comrades, or honoring commandments. My religious beliefs would have put me in military prison. I would have also become a target among my peers. I was forced to accept the utilitarianism approach in order to survive and return home to my family. The scope of all things ethical may become slightly misunderstood due to the morality of each individual. Strong beliefs or a sound knowledge of what’s right to you may create the conflict of a life time. Understanding these  differences describe in this writing will help to understand the complete picture. Each ethical theory has its value in life. Being aware will allow us to facilitate conflict, conversations, or debates with proper knowledge of which ethical value is used, discussed, or misunderstood. How to cite Ethical Theory Comparison, Papers

International Human Resource Management Assignment †Free Sample

Question: Describe about the international human resource management. Answer: Introduction The expatriate as well as the Inpatriate cwcwi c btake on the frontier spanning action and this in turn helps in reducing the information asymmetries between the headquarters as well as the complementary. The manager of the expatriate transfers to an international subsidiary and often receives benefits in financial as well as career form. They generally have the status of the expatriate is represented as the headquarter representative. It is in turn accompanied as the position of having authority due to experience as well as information about the parent company (Harzing et al. 2015). An organization which is increasingly becoming globalized then there will be an augmenting challenge in order to use the expatriates on the global assignments in order to complete intentionally crucial task. The MNCs generally uses the expatriates for the control of the corporate as well as for the expertise reasons. While it is documented that Human Resource Management (HRM) troubles are more multifaceted in the global environment, there is also augmented proof to propose that the organization of international human resources is more and more being recognized as a key determinant of achievement or failure in global business (Ren et al. 2014). Managing Expatriate and Inpatriate Assignments The term expatriation refers to the process that deals with the global transfer of the managers. Literally, the term refers to those workers who are working outside their home country. A low presence of expatriate is however found in the service sectors s well as the multidomestic sector which includes food. In the advertising industry there is a low percentage of expatriate (Harzing et al. 2015). An alternative of expatriation is inpatriation. It involves the transfer of supplementary managers to the HQ for a specific time. This in turn allows the main complementary managers to have an overview of the parent corporation and in turn build up informal communication network. The Inpatriate and the expatriate assignments constitute the optional forms of establishing HQ complementary connection. However, the expatriate have the standing and influence related to their position as HQ representative. Unlikely, the Inpatriate do not receive the same level of respect (Moeller et al. 2015). Figure 1: The problems of Expatriate The use of Inpatriate also raises the cultural assortment and multicultural employees composition at the HQ. It helps in nurturing a geocentric advance to the allotment of human resources in MNCs. In particular, an elevated share of workers with varied cultural setting will be working together directly as Inpatriate are, for example, provisionally incorporated into the HQs organization teams. However, the use of expatriates imitates an ethnocentric sight towards global staffing and an expatriate usually persists to synchronize with their own HQ administration team. Inpatriation can thus be viewed as a significant part of the company which helps in transferring knowledge and also progress the relationships of the HQ subsidiary (Cerdin and Sharma 2014). Figure 2: The number of Expatriates by Year The standard cost of conveyance of an employee and his family on a foreign assignment is supposedly between the three and six times the pre-departure wage of the employee. As per reported, it has been found that 92 percent of the expatriate find their lives difficult due to the usage of internet. However, 96 percent find internet to be useful and they use it daily (Kim 2013). The international human resource management policies and procedures relating to managing expatriates and Inpatriate The A.P. Moller - Maersk Group, a global transportation conglomerate follows an ethnocentric staffing policy, which hires mostly parent country nationals that is the PNCs to top positions as their ancillary. The parent country national is an expatriate. He is a manager of an international company and he is sent from the headquarter to an overseas auxiliary of an international task. In turn the expatriate is the citizen of the parent country. The patent country in turn is defined as that country where the headquarter of the MNC is located. However, the Citigroup Inc., an international investment and banking company follows the geocentric staffing policy. It mostly prefers to hire the nationals who are simply the best regardless of their nationality. They conclude the third country nationals of a country other than the multinationals domestic country (Welch and Bjrkman 2015). Figure 3: The different types of staffing policy The ethnocentric staffing policy has both benefits and drawbacks. The understandable benefit of ethnocentric staffing is the arrangement of welfare and perspective of the residence office with all overseas subsidiaries in a foreign country. In this case, communication is also easier as there is no verbal communication or cultural barriers (Harzing et al. 2015). Irrespective of the staffing decision and the approaches, in a MNC the staffing decision are usually commenced centrally and are forced on the foreign units by the HQ. The Citigroup Inc. follows the geocentric approach, which is fostered by the use of Inpatriate regarding the allocation of human resources. In particular, an elevated share of employees with different cultural backgrounds will work together directly as Inpatriate (Li 2012). The Citigroup Inc. follows the balance sheet approach, which helps in formulating the pay of the expatriate in order to equalize the purchasing power across the nation. This technique is known as the balance sheet approach. In this, the expatriate enjoys the same standard of living. It has been reported that 85 percent of the banking sector follows the balance sheet approach. The balance sheet approach is the oldest method, which helps in compensating the expatriates. This approach was designed after the Second World War. It is a no gain no loss method which helps in compensating those employees working abroad (Moeller 2014). As far as the expatriate compensation is concerned, the A. P. Moller - Maersk Group, follows the purchasing power approach and the Citigroup Inc. follows the salary comparison. The purchasing power approach looks at the purchasing power of the expatriate in relation to the dwelling or the host nation. However, the salary comparison approach compares the total salary of the expatriate to the dwelling or the host nation. It also sets an international target of the salary level to recompense all expatriates with the identical salary structure (McEvoy and Buller 2013). The A. P. Moller - Maersk Group being a global transportation conglomerate follows the strategic selection approach which also needs to be assumed by the IHRM practitioners. According to this, the probable expatriates are subjected to an earlier meeting process along with necessary test for technological and decision-making competency. It also concentrates on subjecting the relatives and family members of the expatriate in order to endure an exhaustively interview along with a transmission to determine how well the family is probable to resist the rigors and the strain of global life. This approach is viewed as a holistic approach (Woldu et al. 2013). Figure 4: Conceptual Model of Expatriate Performance The policy of the inpatriation is envisaged and designed as an organization wide procedure. The value and the uniqueness of the practice have a significant influence on the tactical planning of the operation of the firm (Maley et al. 2015). In order to manage the policy of the expatriate, The A. P. Moller - Maersk Group follows the management system with six mutually dependent subsystems. The changes in one subsystem are bound to affect the other subsystems. The primary inputs as well as the organization processes and the outputs are to be taken into consideration. The failure to provide the detailed inputs as well the failure to address a vital issue of management in any of the subsystem can lead to the deprived performances of the employees (Jorgensen et al. 2016). The Citigroup Inc. follows the planning stage of the expatriate cycle. In the step the higher importance is given to the transfer of knowledge of the expatriate as compared to that of the local managers. The Citigroup Inc. believes that the if the expatriates are engaged in the organization director position will be able to get occupied in more convey of knowledge as compared to that of the local managers. It is predicted that the expatriates who are heading the RD function engages in more transfer of information than that of the local managers (Gonzalez and Chakraborty 2014). A competency-based approach is also followed by the banking sector. It is an integrative perspective lending to a SGRHM, which is a competency-based approach. A competency-based outlook ofthe relationship among human resource management and policy suggests that contribution, decision-making and transformation-based competencies function interdependently generating firm-specific competencies that join to produce a continued competitive benefit (Briscoe 2015). The expatriates are frequently only required to undertake a global assignment thus limiting the communal knowledge input to the organization in the orientation of the international market. In addition, the incidence ofexpatriate breakdown adds toshortened assignments that boundary the expansion and effectual move of communal knowledge. Thus, expatriates are non-renewable possessions with incomplete gathered knowledge in overseas assignments (Tharenou 2013). Since the global transportation conglomerate is larger than that of the Citigroup Inc. they are likely to have more managerial resources. The auxiliary employing expatriates or former Inpatriate will display a larger degree of information transfer from the headquarters to the subsidiaries. The expatriates under the Citigroup Inc. are found to access and apply the HQ information in the auxiliary unit throughout their assignment. It has also been reported that the former Inpatriate can transfer the HQ knowledge to their domestic auxiliary on the completion of the posting of HQ. The former Inpatriate completes the assignment and thus can return the home (Dabic et al. 2015). The A. P. Moller - Maersk Group hires the expatriates in order to provide personal and communal authority in both the indirect and direct ways. They serve in order replace or match the HQ centralization of the choice making and direct observation of subsidiaries by the managers of HQ. The expatriates are used to control which is based on socialization as well as the formation of casual network of communication. The expatriates seem to perform their objectives as bears in any condition. They are more vital in subsidiaries. The presence of expatriate is most efficient in aiding familiar organize in subsidiaries that are otherwise moderately independent from the headquarter. The presence of absolute expatriate is basically lower in subsidiaries. The strategic value of the Inpatriate managers comes from possessing an only one of its kind capability in order to contextualize the communal knowledge of overseas surrounding into firm detailed executable institutional policies. These only one of its kind means may meet the criteria of the Inpatriate that needs to be considered as precious and only one of its kind managerial possessions having the capability to confine international strategies to the competitive uniqueness of the local market (Gannon et al. 2015). Figure 5: The Expatriate Preparation and Development In both the companies however, both the expatriates and the Inpatriate differs on two bases. The expatriate bring with them a position and control that is linked with their role as HQ representatives. Impending from a distant unit, Inpatriate are, on the divergent, improbable to come across the similar level of trustworthiness and high opinion. The managers of expatriate are well thought-out to have a high level of power and high opinion derived from their in detail information of the parent corporation, Inpatriate may possibly lack this position, in particular when coming from a auxiliary that is professed to be less imperative or a previous position of lower status (Maley et al. 2015). Conclusion The MNCs generally uses the expatriates for the control of the corporate as well as for the expertise reasons. In order to manage the policy of the expatriate, The A. P. Moller - Maersk Group follows the management system with six mutually dependent subsystems. The changes in one subsystem are bound to affect the other subsystems. The use of Inpatriate also hoists the cultural collection and multicultural employees masterpiece at the HQ. It helps in development of a geocentric progress to the allocation of human resources in MNCs. In particular, an eminent share of workers with wide-ranging cultural setting will be functioning together directly as Inpatriate are, for example, provisionally incorporated into the HQs organization teams. The Citigroup Inc. follows the planning stage of the expatriate cycle. In the step the higher importance is given to the transfer of knowledge of the expatriate as compared to that of the local managers. The Citigroup Inc. believes that the if the expat riates are engaged in the organization director position will be able to get occupied in more convey of knowledge as compared to that of the local managers. References Briscoe, D.R., 2015. Expatriate integration and performance in emerging markets.Handbook of human resource management in emerging markets, pp.150-171. Cerdin, J.L. and Sharma, K., 2014. Inpatriation as a Key Component of Global Talent Management. InGlobal Talent Management(pp. 79-92). Springer International Publishing. Dabic, M., Gonzlez-Loureiro, M. and Harvey, M., 2015. Evolving research on expatriates: what is knownafter four decades (19702012).The International Journal of Human Resource Management,26(3), pp.316-337. Gannon, J.M., Roper, A. and Doherty, L., 2015. Strategic human resource management: Insights from the international hotel industry.International Journal of Hospitality Management,47, pp.65-75. Gonzalez, J.A. and Chakraborty, S., 2014. Expatriate knowledge utilization and MNE performance: A multilevel framework.Human Resource Management Review,24(4), pp.299-312. Gu, W. (2016). Banks in Asia Get Pickier About High-End Clients. [online] WSJ. Harzing, A.W., Pudelko, M. and Sebastian Reiche, B., 2015. The bridging role of expatriates and inpatriates in knowledge transfer in multinational corporations.Human Resource Management. Harzing, A.W., Pudelko, M. and Sebastian Reiche, B., 2015. The bridging role of expatriates and inpatriates in knowledge transfer in multinational corporations.Human Resource Management. Harzing, A.W., Pudelko, M. and Sebastian Reiche, B., 2015. The bridging role of expatriates and inpatriates in knowledge transfer in multinational corporations.Human Resource Management. Jrgensen, R.B., Kjellen, U. and Moen, ., 2016. Organizational Strategies to Manage Expatriate Worries about Pollution Levels in Megacities.International Journal of Business and Management,11(1), p.39. Just Landed. (2016). Expatriate challenges. Kim, H., 2013. Inpatriation.Annals of Business Administrative Science,12(6), pp.327-343. Li, P.P., 2012. Toward an integrative framework of indigenous research: The geocentric implications of Yin-Yang balance.Asia Pacific Journal of Management,29(4), pp.849-872. Maley, J., Moeller, M. and Harvey, M., 2015. Strategic inpatriate acculturation: A stress perspective.International Journal of Intercultural Relations,49, pp.308-321. Maley, J., Moeller, M. and Harvey, M., 2015. Strategic inpatriate acculturation: A stress perspective.International Journal of Intercultural Relations,49, pp.308-321. McEvoy, G.M. and Buller, P.F., 2013. Research for practice: The management of expatriates.Thunderbird International Business Review,55(2), pp.213-226. Metaoptionitstaffing.com. (2016). Contract for hiring. Moeller, M., 2014. Examining the Philosophy of Expatriate Return on Investment. Moeller, M., Maley, J., Harvey, M. and Kiessling, T., 2015. Global talent management and inpatriate social capital building: a status inconsistency perspective.The International Journal of Human Resource Management, pp.1-22. Ren, H., Shaffer, M.A., Harrison, D.A., Fu, C. and Fodchuk, K.M., 2014. Reactive adjustment or proactive embedding? Multistudy, multiwave evidence for dual pathways to expatriate retention.Personnel Psychology,67(1), pp.203-239. Tharenou, P., 2013. Self-initiated expatriates: an alternative to company-assigned expatriates?.Journal of Global Mobility,1(3), pp.336-356.