Abstract
The paper identifies several fundamental differences between SHR and the more traditional view of the human resources function and relates that one of the most critical tests of a firm's commitment to SRH principles is an economic downturn. The paper explains that one of the major challenges for SRH practitioners during an economic downturn is to justify the added costs of their strategy; with revenues declining, the temptation for management is to protect shareholder value at all costs and eliminate positions. However, the paper explains that practitioners of SRH see economic downturn as the best opportunity to improve the firm's long-term prospects instead of basing a human resources strategy on the immediate economic and competitive circumstances.

Outline:
Strategic Human Resources Management
Economic Downturn
Challenges
Opportunities
Conclusion

From the Paper
"The core of SHR is the concept of the resource-based firm, with the workforce being a valuable resource that must be cultivated and nurtured. If managed correctly, human resources can become a source of competitive advantage (Birdi et al, 2008). Given that SRH is based on a long-term time frame and transformational practices, it therefore stands to reason that a company must be consistent in its human resources approach (Kepes et al, 2008). Thus, the approach of a firm that is engaged with SRH to economic crisis will be different than the approach of a firm not following SRH practices. It is from this difference that the competitive advantage to the SRH firm flows."

Tags:positions, employees, talent, shareholders

Abstract
The paper discusses how the housing credit market that offered sub-prime mortgages was a major factor in the economic downturn, while the American government is also to blame for encouraging financial institutions to accept risky loans. The paper then looks at the Troubled Asset Relief Program (TARP) initiative, the American government's stimulus packages and the stimulus packages in countries around the globe, specifically, the European Union, China, India and Japan.

Outline:
Introduction
The Causes of the Current Economic Downturn
The Outcomes of the Current Economic Downturn
Conclusion

From the Paper
"The specific causes of the current economic downturn being experienced in America and rippling outward around the globe may be in debate. However, as Schramm and Litan noted, the housing credit markets certainly are at the root of the problems being faced today. Specifically, securities backed by sub-prime mortgages were certainly a major factor in the downturn. As these markets crumbled due to poorly managed risk, financial institutions that had previously been built upon trust, vanished forever. For this reason, Schramm and Litan surmise that the blame for the challenges being faced in today's economy lie in the hands of the parties who created these instruments, as well as those who misjudged them and thought they were an acceptable risk. However, some of the cause of today's problems also are the result of an overzealous government."

Tags:housing, credit, subprime, mortgages, TARP, stimulus, packages, bailout

Abstract
The paper explores the literature to determine the impact of the recent global economic downturn on the Australian mining industry and its workers. The paper finds that Australia has a strong economy with a low unemployment rate, but all of this may change in the coming months as the ongoing global economic downturn plays havoc with the nation's mining industry which represents one of the most important components of its economy. The paper does point out, however, that it is likely just a matter of time before Australian mining companies such as Rio Tinto will witness a resumption of demand by its major export partners in the future. This paper contains graphs.

Outline:
Review and Discussion
Conclusion

From the Paper
"Australia currently enjoys a healthy economy that has a per capita GDP that is comparable to the four dominant West European economies (Australia, 2009). The recent global economic downturn, though, spells trouble for the Australian economic in general and the mining industry in particular. According to U.S. government analysts, "Emphasis on reforms, low inflation, a housing market boom, and growing ties with China have been key factors over the course of the economy's 17 solid years of expansion. Robust business and consumer confidence and high export prices for raw materials and agricultural products fueled the economy in recent years, particularly in mining states" (Australia, 2009, p. 2). The Minerals Council of Australia (2009) reports that, "The Australian minerals industry is defined as covering the exploration and mining of minerals (including coal) and the associated minerals processing industry" (The Australian minerals industry and the Australian economy, 2009, p. 1). In fact, the coal, iron ore, and gold mining industries are among the most important components of the Australian economy today (Australia, 2009). In this regard, during fiscal year 2008-2009, the mining industry in Australia accounted for 8 per cent of the nation's gross domestic product, and employed 133,200 workers directly and another 200,000 workers indirectly (The Australian minerals industry and the Australian economy, 2009). The Australian mining industry was responsible for exporting the following amounts of coal and uranium, iron ore, other minerals and related mining services equipment in fiscal year 2008-2009 as shown in Figure 1 below (amounts in billions of dollars)."

Tags:Rio, Tinto, miners, coal, gold, uranium, iron, ore

Abstract
The paper discusses the housing construction industry and focuses on how highly dependent the housing construction industry is on shifts in supply and demand. The paper describes that when consumer demand is rising, industry is expanding, and the desire to purchase new houses is rising, the industry begins to boom. When demand contracts, one of the first things businesses cut back upon is building new facilities, including rental properties. Consumers, insecure in their jobs, cannot afford new homes. The paper concludes that this is why housing demand is considered a bellwether of general economic expansions and contractions, and during the recent economic expansion, a reduction in demand for new housing was seen as one of the first indications the economy was in recession.

Table of Contents:
Shifts and Price Elasticity of Supply and Demand
Positive and Negative Externalities
Wage Inequality
Monetary and Fiscal Policies

From the Paper
"Prices in the industry are quite elastic in the sense that no one 'needs' to build many buildings in the United States. Inelasticity is inherent in the price of certain materials--expensive items like concrete, unionized labor, and other input costs ensure that building homes will never become 'too cheap,' and it is unlikely that a private housing company will build a new structure during a recession, given the major commitment made by constructing a building. Commercially, property owners are hesitant to create new condominiums and developments, fearing that economic circumstances contract still further. That is one reason why it has often been the government who has assumed the burden of building infrastructure projects to stimulate jobs in the construction industry, including public housing, when the housing sector no longer seems likely to recover without government stimulation."

Tags:dependant, shifts, supply, demand, consumer

Abstract
The paper discusses how, since 2006 the housing market in the US has cooled off, with home sales falling sharply and house price inflation slowing. The paper predicts that this down swing of the housing market will likely have a significant impact on the overall economy. The paper looks at the opinions of various economists and relates that homes all over the nation will actually lose value, rather than simply experience slower value growth, which will continue to grow the sub prime loan situation. The paper further relates that the manner in which this will effect the economy is unknown, although it is known that the construction and lending industries are significant employers in the nation, and when these markets slow, the overall market slows considerably.

From the Paper
"The housing market in any economy is a significant aspect of determining overall health, in short when people are working for equitable wages they tend to become home owners, especially in the US where incentive to do so is high. In the past few years the housing market has made significant strides, meaning home prices have risen and the construction of new homes was high, until mid 2006 when many housing markets began to show signs of decline. According to the Economist Intelligence Unit Limited 2007, Country Profile of the US construction accounts for slightly under 5% of the Gross Domestic Product, (GDP) though it plays an exceedingly important role in the US business cycles."

Tags:home, prices, mortgages, sub, prime, loans, lending

Abstract
This paper examines how the Malaysian economy was doing very well with industrial growth graphs that were on the higher end of the trend and how the GDP was increasing positively, but then the sudden economic downturn caused a sudden plunge in the growth of the industries. It looks at how the construction industry, however, survived the down trend and has now started showing trends of growth and amazing future prospects, giving a lot of hope to investors and reviving consumer confidence. It shows how the construction industry is very important in the economic growth of the country due to the amount of industry linked to it.

From the Paper
"Due to the economic crisis, the industry suffered tremendously. This is because as the economy had a set back the blooming construction industry had a sudden fall and a major drop in the ever-highflying growth graph. Suddenly everything was stagnated in the construction industry and no new work was done. There were a lot of projects that were delayed due to this economic downfall. The industry had excess capacity, but not enough work for production, which caused a gap bringing the growth of the industry down. The government made several efforts to evoke the construction industry. However, the industry responded positively to the economic revival in the year 1999 as there was a GDP growth of 5.8 % and the output of the construction industry had fallen only by 5.6%."

Tags:crisis, gdp, government, materials, investors

Abstract
This paper explores the effects on the airline industry since the September 11 terrorist attacks in America. While the attacks happened specifically in the U.S., the paper notes that the effects were felt throughout the global airline industry. Specifically, the paper looks at the downturn in business experienced by British Airways and the subsequent government action which was taken to help the industry.

From the Paper
"The airline industry of Britain and elsewhere in the world has had a drastic set back due to the recent political climate. Although many airlines attribute the September 11 attacks as the core reason for their deteriorated performance nevertheless, according to a KPMG Corporate Finance report the European Airlines have been involve in a cyclical that entails financial performance dependent on fuel costs as well as exchange rate fluctuation."

Tags:terrorist, airplane, pilot, economics

Abstract
Discusses impact on airline of downturn in travel after 9/11. Reduction of passengers & flights. Steps that need to be taken to maintain profitability. SWOT analysis. The Southwest concept. Recommends building up leisure market & business travel & continuing military fare discounts. Necessity of advertising & marketing. Competitive position.

From the Paper
"Southwest and the Airline Industry After September 11


While the airline industry had been falling victim to higher fuel prices and lower load factors even before September 11, the grounding of all airlines flying in, to, or from the U.S. for two days and the public's increasing fear of flying has caused billions of dollars in losses, and not merely in the U.S. Swissair, for generations the epitome of "class" among international airlines , stopped flying until it was rescued by a $380 million bailout by Swiss banks- and then only until October 28. Nearly every airline in America cut back its schedules and laid off or furloughed thousands of workers. Until now, the one beacon of continuity was Southwest Airlines, a highly successful short-hop airline- perhaps the most profitable in the U.S. But now, even this airline has had to make some..."

Abstract
The paper states that an economic downturn is easily responsible for the triggering of mental illness due to its long lasting and far reaching impact on the ability to cause stress and suffering. The paper describes mental illness caused by the sense of hopelessness created by being jobless. The paper presents examples such as suicides during the Great Depression.

From the Paper
"Within the last five years federal and state mandates have made welfare something that is limited for those who collect it. Generations who have depended on the system are finding themselves with a time limit for getting off the doles. The economic downturn of the nation coinciding with the new federal welfare mandates can collide and cause recipients to be fearful for the future. This fear can be aggravated by the inability to find jobs, the cost of daycare, and other things that a booming economy might take care of on its own."

Tags:stress, suffering, hopelessness, jobless, suicides

Abstract
This paper examines how Japan has the second largest economy in the world with a high Domestic Product (GDP) and a very high standard of living. Japan?s foreign exchange reserves are the largest in the world ($203.22US billion in 1998) and Japan is the world's largest creditor. It analyzes the reasons for the downturn in its economy in the 1990s during which Japan found itself in 1997 in its worst recession since World War II. It examines the several significant structural adjustments that needed be made to the Japanese economy as recommended by economists in order to normalize its economy. It discusses issues such as the need for the banks to clean up bad debts and the steps corporate management had to take to deal with the effect of having to pay the world's highest labor costs, which resulted from the strong yen pushing up Japan's average wages to the highest in the world. It also looks at the effects of globalization on Japanese industry.

From the Paper
"The Japanese economy faces several challenges in its attempt to normalize its economy. Its history of government intervention is contrary to classical economic free-market theories that would argue the economy should be left unregulated so that it could correct itself. While Japanese government intervention may have been necessary in the post-war period, its artificial schemes may now hinder it progress. For example, Japan must control its costs to compete with global prices. Yet, the Japanese government continues to set the prices of services, in particular the prices of utility services such as the prices of electricity, communications services, and highway tolls. The government determines these prices by adding what is called reasonable profit margins onto costs."

Tags:free-market, globalozation, industry, yen