Abstract This paper offers an explanation of the Federal Reserve System, otherwise known as the Fed. The paper begins with the history of the Fed, from its establishment in 1913 following an act of congress. The paper then explains how the Fed system works, its structure, management system, goals and purpose. The paper includes an explanation of some of the common terms associated with the Fed, such as the discount rate, which can increase the monetary supply and open market operations which is the tool most often used by the Fed to affect the supply of reserves in the banking system.
From the Paper "The Fed consists of the seven members of the Board of Governors and twelve Federal Reserve District Banks. Adhering to the underlying philosophy of checks and balances envisaged in the US constitution, the Congress has structured the Fed to be an independent institution within the government. The Fed, although accountable to the Congress, is insulated from political pressures in its day-to-day working, reflecting the principle that ?the people who control the country's money supply should be independent of the people who make the government's spending decisions.? ("How is the FR Structured"?)."
Abstract This paper discusses how Economic Value Added (EVA) is not a new concept in economics and financial theory and is based on the 19th century concept of "economic profit", it has only been widely adopted recently by business firms as an accounting practice. It describes what EVA is and looks at its pros and cons from the point of view of the company adopting the practice and the investors. It also examines how EVA differs from some other emerging accounting practices and the major issues relating to EVA as compared to other commonly used accounting principles. Finally, the possible problems and opportunities that a company adopting EVA principles can face are analyzed.
From the Paper "In other words Economic Value Added is not the straightforward accounting "profit" that we get by subtracting the costs minus revenue. In EVA we take into account the "cost of capital" that is invested in the business and the cost of capital includes both debt and equity. Hence if we invest, for example, $ 100,000 in a business and get $110,000 as revenue the profit is not simply ($ 110,000 minus $ 100,000 = $ 10,000) since the $ 100,000 at the time of investment had an opportunity cost that has to be accounted for before we determine our "real" profit. If the opportunity cost of $100,000 at the time of investment was $ 120,000, i.e., the investor could earn $ 20,000 by investing his/her money elsewhere, the $10,000 "paper profit" would actually be a "loss" in real terms."
Abstract This paper presents an evaluation of the Boeing company. The paper analyzes the company's fundamentals and the performance of comparables, as well as market performance. As well, the paper provides a projection of future revenues along with an estimation of the cost of capital with which Boeing produces its airplanes. The analysis takes into account all four areas of Boeing's production: Commercial Airplanes, Military Aircraft and Missile Systems, Space and Communications and Boeing Capital Corporation.
From the Paper "Despite the predictions of nay-sayers, Boeing provides a great amount of stability to investors. Based on the prospective cash flows, which can easily be predicted as orders for new construction are signed years in advance, Boeing has a stable future. However, the prospect of new wars should be considered in the context of a scenario analysis. In the case that America commits itself to a series of wars that limit the ability of the commercial economy to support international travel, Boeing's production of commercial jets will suffer at the same time that it gains new contracts for military aircraft and weapons."
Abstract Bank of America is a large corporate entity with a global presence. This discussion explores the company's operations in the United States and the United Kingdom. This discussion identifies the full range of products Bank of America offers both in the United States and the United Kingdom. In addition the paper describes the company's market, structure and competitive environment. The company begins by taking a look at Bank of America's Domestic and UK Operations.
From the Paper "According to Multexinvestor Bank of America became a corporation in 1968. Bank of America is headquartered in Charlotte, North Carolina. Bank of America currently has facilities throughout the country in states that include; Virginia, North Carolina, the District of Columbia, Florida, New Mexico, Nevada and Arizona. (BAC Full Description) The company operates in several locations in the United Kingdom including London, Bank of America is one of the largest financial institutions in world and serves millions of customers a day in the United States. Although the company operates in the United King its operations are on a much smaller scale. In fact most of the company's profits are made domestically."
Abstract This paper considers the phenomenon of globalization and examines what factors make globalization possible. It lists three of these factors as technology, capital and management and then discusses each in detail. This paper is an examination of the industrial aspect of globalization.
From the Paper "According to Micklethwait and Wooldridge there are "three engines" driving globalization today. The first of those three engines is technology. "Technology gives entrepreneurs ... the freedom to challenge giant companies and to break up concentrations of power," (Mickelthwait and Wooldridge, 2003 ) Capital is the second engine. Financial markets "are not just wiring economies together and altering the structures of companies, ... they're also changing entire political systems." (Mickelthwait and Wooldridge, 2003 ) The third engine is management. "The internationalization of business practices now has its own momentum, and it is also accelerating," write the authors. Companies can shift the content of their companies from localized, to global and maintain their competitiveness."
Abstract This paper looks at the correlation between job satisfaction and motivation. Job satisfaction may mean many different things to different workers, but is described as a self-defined positive attitude toward a person's job. It discusses how an employee who has a high level of job satisfaction will receive benefits in the way of improved physical and/or emotional health.
From the Paper "Just as a satisfied employee will add to the bottom line, a dissatisfied employee will take value from the company. A dissatisfied employee is more likely to call off work, causing costly time lost. They may suffer from medical conditions related to stress, which could affect overall medical costs and performance. They often do great harm to company morale and run the risk of destroying group cohesiveness. This kind of disgruntled employee may spread this attitude to other employees, which can severely affect the entire organization's productivity. In many cases, an angry employee may even seek retaliation by destroying company property or stealing to get even. In rare cases, disgruntled employees have been known to resort to violence."
Abstract This paper looks at a variety of aspects regarding minimum wage. It looks at the laws enacted, the rates set, and exceptions to minimum wage laws. The deterioration of the buying power of minimum wage is addressed, and statistical evidence of this deterioration is provided. Also included is an account of the economic impact of minimum wages.
Brief History of Minimum Wage
United States Minimum Wage
Minimum Wages Economic Impact
Different States Minimum Wages
From the Paper "The minimum wage as part of the Fair Labor Standards Act was passed in the year 1938. The first minimum wage was .25 per hour. However, it has increased over the decades with now as current federal minimum wage $5.15 per hour. But even with the increases, the Coalition on Human Needs has observed that the buying power of the federal minimum wage has deteriorated by almost twenty five percent over the last twenty years (about.com)."
Abstract This paper provides anecdotal and statistical evidence to counter the argument that foreign workers that move into metropolitan areas in the U.S. are supplanting native-born workers and are "stealing?" wages the native-born workers might otherwise enjoy. The paper also discusses some of the negative stereotypes regarding immigrant workers that persist and cites several studies that claim that the immigrant workers actually have a positive effect on the U.S. economy.
From the Paper "Some figures regarding the effect of immigration on cities are relatively easy to obtain; they were developed by the United States Census Bureau, most recently in the year 2000. Other figures are much more difficult, although anecdotal evidence abounds. In Race and Ethnicity in the United States, author Richard T. Schaefer shows that although immigration benefits the United States in many ways, there are still negative stereotypes. These stereotypes account for unequal, and often disturbing treatment, despite the contributions."
Abstract Provides statistics, facts, and figures in relation to China's current economy and examines whether this country could become the future superpower. It looks at initiatives proposed by China's current president, Jiang Zemin, to strengthen China's economy. These initiatives are listed and discussed.
From the Paper "Ancient China was a world leader in arts and sciences, but encountered civil unrest and military defeat, famine, and foreign occupation during the 19th and early 20th centuries. Originally ruled under the Qin or Ch?in Dynasty in 221 B.C., the Dynasty was replaced by the Republic of China on February 12, 1912. In October of 1949, the communist People's Republic of China came under the leadership of Mao Zedong, who ruled a dictatorship that ensured China's dominion at the cost of strict controls over the lives of China's citizens as well as colossal loss of life. Mao's successor Deng Xiaoping introduced market reforms after 1978 and decentralized economic control, although political control remained tightly centralized. This relaxing of economic rule resulted in a high GDP (real growth rate) that sustained decades."
Discusses the Sarbanes-Oxley Act, which was designed as a response to the wave of corporate fraud cases that riddled the corporate landscape in America in 2002.
Abstract This paper looks at the Sarbanes-Oxley Act that was enacted in order to rectify the constant corporate scandals, fraud, and failures sweeping across the United States. The paper discusses the purpose of the Act, outlines its contents, explains exceptions to the Act that apply to foreign companies, and includes a timetable chart for its implementation. Issues such as independence and corporate responsibility, independence within the accounting profession, accountability and disclosure, and how the Act affects banking organizations that are non-public are also discussed in this paper.
From the Paper "The Sarbanes-Oxley Act is aimed at private companies by definition, as Section 108 on Accounting Standards implies. However, despite this seemingly straightforward definition, non-public banking companies are finding themselves under the jurisdiction of the Act based on their former standing with regard to SEC and FDIC regulations."
Abstract A highly competitive global economy makes companies remarkably pragmatic when it comes to both internal business processes and essential business services. They want these jobs done with world-class speed and efficiency, and they want them out of their hair so they can get on with the task of adding value in their fields of expertise. It is for this reason that IT outsourcing continues to grow in dollar volume, scope, and sophistication. The paper shows, however, this is not just an issue of corporate efficiency; it is an issue of misguided corporate greed. The paper shows that the cost savings accrued from the outsourcing of Information Technology overseas is marginal as compared to the long-term damage this trend will have on the national economy, as well as the bottom line of businesses that fail to take into account "the big picture".
From the Paper "Outsourcing is not a decision for the short term; rather, it is a commitment that is made for the long-term advantages that outsourcing provides. Over the contract term, the company's business, available technology and the competitive and regulatory environment may change dramatically. The vendor may or may not decide, as a part of running its business, to develop capabilities the company will need in the future. Therefore, this commitment involves great risk regarding loss of control that can potentially traumatize the organization or even the economy as a whole. However the motives for outsourcing can be extensive and persuasive."
Abstract This paper explores Marx's and Weber's writings on estranged labor to determine if the labor theories both men used to analyze capitalism and the plight of workers in the 19th century can also be applied to 21st century capitalism. The first part of this paper discusses Marx's theory of estranged labor, as written in "The Economic and Philosophic Manuscripts of 1844". In the next part, the paper then examines Max Weber's dissatisfaction with the Marx's reliance on economic theory to explain the corrupting forces of capitalism. The next section then applies Marx's and Weber's theories to modern capitalism. Weber's writings on rationalization and the bureaucracy are then used to analyze various examples of ?corporate greed.? In the conclusion, this paper argues that the examples discussed show how advanced capitalism continues to foster the growth of alienated labor, rationalization, and the bureaucracy.
From the Paper "In the 19th century, leading social theorists such as Karl Marx and Max Weber believed that because its many inherent contradictions, the capitalist system would inevitably fall into a decline. More than a century later, however, the capitalist system is far from dead. Rather, it appears to be further entrenched, encircling the world in the stranglehold of globalization."
Abstract Organizations are changing. Previously, human resources (HR) did not rise above the position of an administration and clerical department. The HR department's functions have changed; HR takes on more duties and responsibilities than in the past. This paper shows that the HR department is becoming a strategic partner for the organization, as it is a purveyor of the most important asset a company controls, the human asset. More than any other resources, humans ultimately come to represent the new competitive edge for a corporation. The paper examines the role of the HR manager, his/her changing role in America's work force, and expected roles in the future.
Paper Outline
The Human Resource Planning Model for the US
The Organizational Socialization Process
Challenges that Human Resource Departments Will Face in the Future
Conclusion
Bibliography
From the Paper "Sensitivity to issues of gender, race, culture and religion are becoming increasingly important to organization. The ability of an organization to accept new ideas and change or modify the existing attitudes of the company helps the organization grow. This was especially noticeable when the disabled and disadvantaged workers entered the workplace in increasing numbers. Many organizations in today's market place encourage individuals to have their own style and attitudes as long as they are within the main acceptable codes for the overall company. The HR departments of many organizations have, over the years, used many of these "soft" measures to improve the organization as a whole. An individual's traits also play an important role in the encounter stage."
Abstract This paper looks at Nazi Germany's attempts at the economic recovery of the nation. Hitler's priorities concerning the economic recovery of Germany, programs initiated by Nazi Germany to stimulate the economy, and the principles of Hitler's four-year plan are discussed in this paper.
From the Paper "In the early 1930?s, Germany was plagued by unemployment and stagnant growth despite efforts by the administration to alleviate the country's economic difficulties. The economic liberalization of the banking system was one of few cautionary steps taken by administrations prior to Hitler to boost Germany's failing industries. This all changed following the Nazi rise to power; two notable banking acts passed in 1934 and 1936 effectively converted the banking system into Hitler's personal lender, allowing him to replace commercial borrowing with the various savings institutes that would allow him to re-build the German army. In this period, wages were frozen and the armaments business boomed, while individuals suffered as wages were frozen at their pre-Hitler-era rate. Meanwhile, the government was able to continue to borrow money from Germany's savings banks to contribute to the building of the military."
