INCREASED MINIMUM WAGES VS UNEMPLOYMENT RATE It’s like a decade down the line when nobody would think that customer service in the restaurant would be automated so that one would order food online without having to speak to the waiters. But now the reality is dawning on many employers like chevys Fresh Mex, California Pizza kitchen and chilli’s who have automated their services making their customers to order their food online. (Tritch,2014) Though all these changes are the result of improvement in technology the motivation behind it is the state increase of minimum wages for employees making employees to rely on technology for cost minimization because the minimum is aimed to increase from $7.25 to $10.10. (Medina,2015) Bill Gates, Microsoft co founder when interviewed and asked whether he is supporting increase in minimum wage, he was for it in that this will create more market for restaurant automation machines. Though Bill Gates was right it is clear that automation of restaurant services began long ago in 1970s with coffee carafes and self serving soda machines. It is therefore evident that…
The bankruptcy-prediction problem can be viewed as a problem of classification The decision tree is essential in an organization to specific departments; a marketing manager may wish to have a set of consumers who are likely to purchase his/her product. He/she can use the decision tree to acquire enough and large numbers of an audience while saving the marketing budget. Lenders’ managers are another department in an institution that can use the decision tree to categorize consumers into groups of non-potential and potential or risky or safe loan applications as a problem classification. The process of classification is a two-step, prediction, and learning step. In the learning stage, the model is created, relying on given training information. In the prediction stage, the model is used to forecast the reply of the provided information. Therefore, decision tree algorithms are one of the famous and most accessible classifications to interpret and understand. It can be employed for both regression and classification kind of difficulties. Decision Tree Algorithm A decision tree can be described as a flowchart like configuration where the most internal…
Case Study; Fiscal and Monetary policy. QUESTION ONE. Marginal propensity to save(MPS) is the portion of income that is saved instead of being used for buying goods and services. MPS is the saving of that disposable income after taxation and spending of the additional amount of income. MPS is the change of savings per change in income. a). since mps = .2 and income = $1000 therefore the amount consumed =1000-(0.2*1000) =$800. the consumer will save $200 after an expenditure of $800. b). m =20% required reserve= 0.2 *1000 = $200 excess reserve =$1000 – $200 =$800 Since MPS =0.2, and income is $1 then change in savings is given by (1/0.2 * $800)=$ 4000 increase $4000 -$1000 =$3000 QUESTION TWO. Supply shocks are events in the market that suddenly affect the supply of a good or service as a result of price increase and or shortage of products in the market. this result in a shift in supply curve. Adverse supply shocks negatively affect the supply of a commodity. They cause the supply curve to move to the supply …
Why minimum wage isn’t enough to compensate for the standard of living in many places. The minimum wage debate has been an ongoing economic discussion over the last 100 years and while it was relevant as the global economy integrated, it is extremely important right now as jobs, industry and finances become international and borderless. Fiscal experts have regularly pointed out that a full time living wage job is insufficient to support basic needs in many places. In the US the situation is extremely perilous with most counties unable to support a minimum wage lifestyle. This discussion highlights the economic challenges that countries like the US that practice pure capitalism face. On the one hand, low minimum wages make life extremely difficult for low income earners who literally slave everyday just to put feed themselves; while on the other hand low wages are unattractive to too many able-bodied citizens who stay out of key jobs and become dependent on welfare, becoming a burden on the state. This paper will delve into the intricacies that inform the conviction that a minimum…
Migration and Diversity Introduction Humans have endeavored to comprehend the relationship between geography and population dynamics since long ago. Research has established that population numbers does grow in an exponential manner while the production of food grows in a linear way as it does not keep pace with growth in population and hence leading to natural checks such as famine or drought (Sherbinin et al, 2009). Research conducted in the Mwanza region of Tanzania which is located in the western part of Tanzania shows that accessible runoff is different in a significant way across some small region and also that population density nears the water that is available in a region (Marta, 2016). Migrants to urban centers are less likely to access water from standpipes and they are more likely to rely on wells that have not been improved. Rural-urban migration does not correlate with relative water scarcity in places that people have come from but it correlates to how near people are to roads and to towns (Marta, 2016). There is a general conclusion that high fertility which was…
Apple Inc. Marketing and SWOT Analysis Abstract Marketing strategies will differ from one organization to another. More so, the application and use of the various principles of marketing will be visible in the local as well as in the international study or analysis. For genuine disguise of our primary subject on principle of marketing we will direct our focus on one of the well doing company which has had a lot of impact on the local as well as in the international markets. The research will deeply analyze the Apple Inc. Company. The analysis will cover on three noteworthy sections; the presentation of the venture where the paper will offer the foundation history, the money related and the promoting examination. The investigation will give a SWOT examination to the organization where it talks about on the qualities, the shortcomings, dangers and the chances of the business. At long last, the examination will likewise concentrate on the opposition assessment of the undertaking, recommendations concerning the new introduced products of the company, reflection of the marketing status of the company and other…
Money as a Motivator: New Story Option Effect The global shortage of pilots has seen airlines struggle in business. It is not that they are pressing demand for pilots but the ones already employed are cringing for a pay rise. The story, according to Robert Hackel of CNBC News, evinces that money affects how employee motivation. This fact brings to light the motivational effect money has on workplace behaviour. Airlines such as Qantas of Australia and Emirates are pouring resources to hire more pilots. Across Europe, pilots have formed unions, while USA pilots who bore with their airlines during bankruptcy received salary raises. The strikes and Unions created by pilots across Europe show their negative attitude at their workplaces due to low salaries paid (Hackel, 2018). The pay raises to the American employees is to motivate them to work hard and effectively. These cases show the effect money has on workplace behaviour can be made relevant. Relevance Money as a motivator in employees’ workplace behaviour should be relevant. Pay rise should only be to employees who achieve feats…
CNA’s and why soft skills are needed and essential in the CNA training process Introduction The need for healthcare and more CNAs is growing continually. This study looks at CNA’s and examines why soft skills are needed and essential in the CNA training process. Certified Nursing Assistants (CNAs) are required to assist patients with their medical needs. McKay (2017) notes that RNs not only treats patients but also provide emotional support and advice to them as well as their families. RNs also educate patients along with the public about medical conditions (McKay, 2017). According to Aiken et al. (2016), a Licensed Practical Nurse (LPN) or Registered Nurse (RN) is responsible for CNA. At no time has was there a high need for healthcare providers and particularly CNAs to provide health services. A CNA needs to have strong soft skills to be effective. In this study, the researcher will look into the roles of the CAN and how to role-play affects their training. As part of this examination, a brief aspect of RNs and how they relate to CNAs discussed. In…
Management: Barring Bank Introduction and Case Highlights The collapse of Barring bank of London is a case revolving around poor operations risks controls that offered a platform for fraud by one of its employees. Leeson took advantage of deficient internal controls and risk management practices to execute his plan. Nick Leeson falsified the banks trading records and managed to use money meant for margin payments on another trading through the bank’s computer systems. The approach left the bank with massive losses to deal with owing to Leeson’s decision to misuse its derivatives trading operations. Leeson managed to hide his losses for sometimes in the eyes of other top managers through a fictitious account he labeled “88888” while posting profits on different trading accounts (Bair, 2015). In any case, the Barring bank failure is a case in point that highlights the need to strengthen internal control systems in any institution. The case is worth studying since it offers vital insights on how lack of sound technological base can land an organization into serious problems. Technology plays a critical role in the…
NAFTA and Women Introduction Although some would say that the North American Free Trade Agreement (NAFTA) has been successful throughout the years, the NAFTA had not only economic effects, but also social effects, such as deteriorating worker conditions, especially for women. There have been numerous studies that indicate the benefits of NAFTA, including the growth of the economies of Mexico, Canada, and the United States. Mexico has specifically experienced rapid growth of its industries and farming sector as a result of NAFTA, even though subsistence farmers have been negatively impacted by increased competition from foreign companies (Horan, 2001). Americans and Canadians, on the other hand, continue to enjoy low prices for various commodities, which would be more expensive in the absence of free trade. This paper seeks to discuss how these gender inequalities manifest, and explores how the inequity can be acted upon to give women the same chances to succeed as their male counterparts. Discussion Despite the adoption of NAFTA, gender inequality continues to be witnessed in terms of employment opportunities available for men and women. New employment opportunities…