Wage Determination in Perfect and Imperfect Markets

Wage determination in perfect and imperfect markets Perfect competition In perfect labor markets, everyone is wage taker – both the employee and the employer. On the one hand, the employer and his firm cannot control the market as there are too numerous firms and the firm is price taker on the product market and labor market. On the other hand, the workers cannot control their wage as they have no economic power to do so or they are of a clearly definite type. In perfect competition there is a free movement of labor. Everyone can enter the labor market or to switch jobs. Moreover, both workers and employers have enough information on the labor market state – wages, demand, productive level of workers etc. The most common thinking in labor markets is that all workers in the same position are equally There are two driving forces concerning the supply of hours by an individual worker – while working, the worker sacrifices its leisure time and the work may be unpleasant. The worker experiences marginal disutility of work, which tends to increase as work hours increase. To deal with the marginal disutility of work, a wage could be raised. This would lead to people willing to work more hours in order to have a greater income and they are ready to sacrifice their leisure time or in other words the substitution effect appears. Still, with higher wages people tend to work less in order to have more leisure, which is the income effect and as a result we meet the backward-bending supply curve of labor. What determines wage rates in perfect competition is the number of qualified people, the wages and non-wage benefits in alternative jobs and the non-wage benefits or costs of the jobs. The wage of a worker is measured by the interaction of demand and supply in the labor market. A very useful tool for calculating the wage rate is the marginal productivity theory. As long as firms are concerned, they will try to maximize profit by employing workers until the marginal cost of employing a worker is equal to the marginal revenue the worker’s output earns for the firm. In other words, the wage should be equal to the marginal cost the firm has occurred by employing the last worker. According to time some differentiations might be made. In the short run expanding industries will be able to pay higher than contracting industries. In the long run there are wage differentials because workers have different abilities and they are not perfectly mobile. In conclusion, the low paid will be those whose labor is in low demand or high supply, they possess few skills or are unfit, work in contracting industries, do not want to move from the area etc. Highly paid are workers whose labor is in high demand or low supply, they have certain skills or talents or work in expanding industries. Wage determination in imperfect markets In the real world, firms or workers, or both, usually have the power to influence wage rates. This is the case with monopsony – this is a market with a single buyer or employer. Another option to determine prices is when the workers are part of a labor union, which can be a monopolist or part of an oligopoly. Monopsonist are wage setters or wage makers as they are represent all the workplaces. What is interesting about monopsonist is that if a firm wants to hire more workers, it has to pay a higher wage rate to attract workers away from other industries. The wage it pays is the average cost to the firm of employing labor and the marginal cost of hiring one more worker will be above the wage rate. To maximize profit, a monopson equalizes marginal cost of employing labor with marginal revenue product. Union monopoly or oligopoly has market power and can influence wages. The scope of this power depends on the market concerned. However, the higher the wages, the less the workplaces. Moreover, unemployed might undercut the union wage by forcing the firm to employ non-unionised labor. The only way to increase wages and not reduce the level of employment is by increasing the productivity of labor. Another form of imperfect labor market Is bilateral monopoly. It means that a union monopoly faces a monopsony employer. In this case the wage rate and the level of employment depend on the relative bargaining strengths and skills of unions and managers. As a matter of fact, my facing a single powerful employer it might be easier for the union to increase wage rates. In bilateral monopoly the union can threaten the industry with strikes and consequently economic losses which gives unions more power. It often happens both sides – union and management, to gain from the carried negotiations. This is called collective bargaining. In this form of agreement there are various threats or promises made by both sides. Examples of union threats are – picketing, working to rule and such of employers can be lock-outs, plant closures etc. The government can also influence the collective bargaining. It can try to set an example, or set up arbitration or conciliation machinery. Another possibility is to use leglislation, e. g. set a minimum wage rate or prevent discrimination. To change the perspective, a higher wage might also be profitable for the firms. The reason behind this lies in the fact that productivity rises with wage rates. Moreover, by investing in training of the personnel, a firm will meet significant loss in the absence of the better-trained workers. High wage rates motivate workers as well. Other imperfections of labor markets can be the inadequate information workers or employers receive. In addition, wages may respond very slowly to change in demand and supply, causing disequilibrium in labor markets. The last factor in determining wages we are going to examine is discrimination. It might take many forms – race, sex, age, class etc. In economics, discrimination means that workers of identical ability are paid different because of the aforementioned characteristics.

The Fourth Amendment

Abstract This paper will investigate the fourth amendment, unlawful search and seizure, and will explain what is considered to be unlawful and what is not. This paper will also discuss the right of privacy that Americans are entitled to as citizens of the United States. Events that have marked history in regards to the fourth amendment will also be explored, explaining the nature of searches and the key components that coincide. The court ruling in the historic case of Arizona vs. Gant will be explored in detail.This court case set out to establish what was actually considered unlawful, and what guidelines must be followed to be considered lawful. The case suggests that because of probable case that a search would then in fact be lawful. But in this case it is discussed that even when probable cause is present, there is still factors that must be considered. Unlawful Search and Seizure Imagine being pulled over while driving on a suspended license; you are handcuffed, and placed in t he backseat of a squad car, while the officer searches your car, without your consent.There you are sweating profusely, nervous of what may and will be found, and then it is found, in the glove box a gun and drugs. What should be said in defense? What should be done? Was this in fact a situation where unlawful search and seizure had taken place? Did this go against your constitutional rights as a citizen? There was no consent, but there was probable cause because of the suspended license. Imagine driving with friends and you are speeding. You are then pulled over, the officer smells marijuana, and arrest everyone inside of the vehicle.He then returns to the vehicle, and searches it finding cocaine in a jacket coat pocket. Was this too an act of unlawful search and seizure? Did this go against your reasonable expectation of privacy? The Bill of Rights Many of us may struggle when it comes to knowledge about laws, and our constitutional rights as citizens. We want to protect ourselves from situations that may be unconstitutional, but may not be aware of our rights when unconstitutional behavior occurs. When The U. S.Constitution was ratified in 1788 and 1799 there were not many laws set in place in regards to the criminal justice system. â€Å"The Fourth Amendment was adopted as a response to the abusive search and seizure practices used by the British government during the American colonial period. The colonists were particularly concerned about broad, particularized searches performed under the authority of general warrants. General warrants authorized searches for persons or papers not named specifically in the warrant† (Josephson, 1996). The U. S.Constitution did not set forth the rights of individuals in enough detail; so ten amendments were added in 1791, and were called the Bill of Rights (Cole & Smith, 2011). According to Cole and Smith (2011), The Bill of Rights are the first ten amendments that were added to the U. S. Constitution to provide spe cific rights for individuals, including criminal justice rights concerning searches, trials, and punishments. Unlawful search and seizure is the fourth amendment, which is a part of the first ten amendments. Unlawful Search and SeizureThe Fourth Amendment states: the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated and no Warrant shall issue, but upon probable cause, supported by Oath and affirmation, and particularly describing the place to be searched, and the persons or things to be seized (Cole & Smith, 2011). Unlawful search and seizure was made to limit the capability of law enforcement officers to search a person or property in order to obtain evidence.It is believed that law enforcement should not be able to pursue criminals at all cost. A search is a court document that gives law enforcement the authority to examine and hunt for evidence in or on a person or place in a manner th at intrudes on reasonable expectations of privacy (Cole & Smith, 2011). The reasonable expectation of privacy, that was developed by the courts, is normally from the government; but if there is probable cause law enforcement can receive an search warrant from a judge and search wherever the warrant states.A seizure is a situation in which police officers use their authority to deprive people of their liberty or property and which must not be â€Å"unreasonable† according to the Fourth Amendment (Cole & Smith, 2011). All types of things can be seized such as a person’s freedom, which is also called an arrest, and also even property. Law enforcement must ensure that there is probable cause because if not that is an infringement of that person’s right. Being unconstitutional can lead to fines, and law enforcement officers even losing their jobs, depending on the severity of the situation.Requirements of the Fourth Amendment There are requirements that law enforceme nt are expected to be knowledgeable of and have to follow, even while trying to catch criminals. The requirements are probable cause, affidavit, and describing the place being searched, and the persons or things to be seized (Cole & Smith, 2011). Probable cause is the amount of reliable information indicating that it is more likely than not that evidence will be found in a specific location or that a specific person is guilty of a crime (Cole & Smith, 2011).In order for search and seizure to take place there has to be probable cause. Affidavit is a written statement, which is supported by oath or affirmation, submitted to judicial officers to fulfill the requirements of probable cause for obtaining a warrant. The place or person to be searched or seized has to be described in detail to help establish if probable cause is reasonable. There are however, exceptions to the probable cause and warrant requirements.Some exceptions are investigatory detentions, warrantless arrest, searches incidents to a valid arrest, seizures of items in plain view, exigent circumstances, consent searches, vehicle searches, container searches, border searches, searchers at sea, administrative searches, and searches in which the special needs of law enforcement make the probable cause requirement impractical (Calsyn et al. , 1998). A warrantless search can be conducted if law enforcement believes that the evidence is imminent danger of being moved or destroyed.Also if there is belief that law enforcement may be in danger they may enter a dwelling and conduct a full warrantless search (Calsyn et al. , 1998). The Fourth Amendment does not require law enforcement to have a warrant when searching vehicles when they have probable cause. The â€Å"automobile exception† to the warrant requirement stems from both the inherent mobility of vehicles, which often creates exigent circumstances that make obtaining a warrant impractical, and the reduce expectation of privacy due to configurat ion, use, and regulation of automobiles (Calsyn et al. 1998). â€Å"In certain circumstances, law enforcement officers may lawfully arrest persons without an arrest warrant. Such arrests are permitted for any offense committed by the arrestee in the presence of a law enforcement officer and for any felony that an officer has probable cause to believe the arrestee has committed. After making a warrantless arrest, an officer must promptly secure a judicial determination of probable cause. The probable cause required to make a lawful warrantless arrest is identical to the probable cause required to secure an arrest warrant (Calsyn et al. 1998). According to Nolo (2012), the fourth amendment only applies to a search if a person has a legitimate expectation of privacy in the place or thing searched. If not, the Fourth Amendment offers no protection because there are, by definition, no privacy issues. For example, when the police look for and find a weapon on the front seat of a car, it is not considered a search under the fourth amendment because it is very unlikely that the person would think that the front seat of the car is a private place and expectation of privacy is unlikely.Even if the individual did, society is not willing to extend the protections of privacy to that particular location. On the opposing side, a person who uses a public restroom expects not to be spied upon and most people, including judges and juries would consider that expectation of privacy to be reasonable Therefore, the installation of a hidden video camera by the police in a public restroom will be considered a search and would be subject to the fourth amendment's requirement of reasonableness. However, the fourth amendment does permit searches and seizures that are considered reasonable.In practice, this means that the police may override your privacy concerns and conduct a search of you, your home, barn, car, boat, office, personal or business documents, bank account records, trash barrel, or whatever, if the police have probable cause to believe they can find evidence that you committed a crime, and a judge issues a search warrant, or the particular circumstances justify the search without a warrant first being issued (Nolo 2012). The Supreme Court has ruled that warrantless police conduct may comply with the Fourth Amendment so long as it is reasonable under the circumstances.The exceptions made to the Fourth Amendment's warrant requirement reflect the Court's reluctance to unduly impede the job of law enforcement officials. The Court has attempted to strike a balance between the practical realities of daily police work and the privacy and freedom interests of the public (FindLaw 2012). A warrant is a document issued by the courts allowing law enforcement to search your private property. All that is needed to obtain a warrant is probable cause, meaning there must be sufficient reason based upon known facts to believe a crime has been committed or that certai n property is connected with a crime.Also, as explained by The Lecture Law Library (1995-2012), the fourth amendment provides no protection for what a person knowingly exposes to the public. For instance a man's facial characteristics, or handwriting, his voice is repeatedly produced for others to hear. No person can have a reasonable expectation that others will not know the sound of his voice, any more than he can reasonably expect that his face will be a mystery to the world. These are simply a fraction of the examples as to when the fourth amendment of unlawful search and seizure does not apply.Courts use a two-part test established by the U. S. Supreme Court to determine whether, at the time of the search, a defendant had a legitimate expectation of privacy in the place or things searched. Evaluating whether or not the person actually expected some degree of privacy and if the person's expectation is one that society is willing to recognize? Also, if upon review, a court finds that an unreasonable search occurred, any evidence seized as a result of the search cannot be used as direct evidence against the defendant in a criminal prosecution, state or federal. This rule, established by the U. S.Supreme Court in 1961, has come to be known as the exclusionary rule. The exclusionary rule prevents the government from using most evidence gathered in violation of the United States Constitution. Many commentators criticize the exclusionary rule on the ground that it unfairly lets the criminal go free simply due to error. Adversely, the rule's supporters argue that excluding illegally seized evidence is necessary to deter police from conducting illegal searches. According to this deterrence argument, the police won't conduct improper searches if the resulting evidence can't be used to convict the defendant.In addition to being excluded as evidence against the defendant, evidence resulting from an illegal search may not be used to discover other evidence, under a le gal rule colorfully known as the â€Å"fruit of the poisonous tree† doctrine. The â€Å"tree† is the evidence that the police illegally seize in the first place; the â€Å"fruit† is the second-generation product of the illegally seized evidence; both tree and fruit are inadmissible at trial (Nolo 2012). Moreover, when the fourth amendment is broken there are consequences that are handled by the courts. The Knock-and-Announce RequirementThis requirement is meant to protect the security, privacy, and property interest of people in their homes (Josephson, 1996). â€Å"The knock-and-announce rule requires that police officers give notion of both their authority and purpose to the occupants of a residence to be searched. Before breaking and entering the premises to search, officers must also give the occupants a reasonable opportunity to voluntarily allow the police to enter† (Josephson, 1996). This rule has to be follow even if officers do have a warrant. Thi s rule also serves for protection for the officers that are entering a home owner home.Citizens have an expectation to privacy and with this rule it allows the occupants to give consent to enter. Arizona v. Gant This case was taken all the way to the U. S. Supreme Court, and is used as a guideline for what is considered constitutional in regards to Unlawful Search and Seizure. The facts of the case states that Gant was arrested for driving with a suspended license. He then was handcuffed and placed in the backseat of an officer car. While under arrest the officers searches his car. The officers find cocaine in a jacket pocket (The Daily Record, 2009, p. 1).Gant’s motion to dismiss the evidence was denied and he was convicted of drug charges. â€Å"Reversing, the State Supreme Court distinguished New York v. Belton, which held that police may search the passenger compartment of a vehicle and any containers therein as a contemporaneous incident of recent occupants lawful arres t on grounds that it concerned the scope of a search incident to arrest but did not answer the question whether officers may conduct such a search once the scene has been secured† (Justia. com, 2009). One major concern was of the officer’s safety if the occupant was allowed to be within the reach of the area being searched.This could be absolutely dangers for the officer and could endanger the public. Under the Gant ruling, if an officer wishes to search the vehicle of an arrested suspect, he or she may delay handcuffing the suspect until after the search is complete (NJ. com, 2009). This allows the occupant to be able to access his car while being searched. Conclusion The Fourth Amendment is the primary, essential limit on the power of governments in the U. S. to inquire into people's lives, arrest them, and take their property. It is also what prevents governments and their agents from invading citizens' privacy.In a society that both deplores crime and values liberty , there will always be a tension between law enforcement interests and the privacy of individuals. The tools and system of the fourth amendment are as followed: Is it governmental conduct? Does the defendant have a legitimate expectation of privacy? Will society protect the defendant’s expectation as objectively reasonable? And was a warrant issued? If any of the stated reason within the system of unlawful search and seizure hold true then there I no violation of the fourth amendment. The fourth amendment to the U. S. onstitution places limits on the power of the police to make arrests, search people and their property, and seize objects and contraband, such as illegal drugs or weapons. The amendment of unlawful search and seizure is one of ten amendments within The Bill of Rights and reads as follows: â€Å"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants sh all issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized (Nolo 2012). † ReferencesArizona v. Gant. (2009). Retrieved November 22, 2012, from http://supreme. justia. com/cases/federal/us/556/07-542/ Calsyn, J. D. , Hale, B. C. , Kranz, H. , Grossman, M. R. , & Kim, N. E. (1998). Warrantless searches and seizures. Georgetown Law Journal, 86, 1214-1288. Cole, G. F. , & Smith C. E. , (2011) Criminal Justice (6th ed. ). Belmont, California: Wadsworth. Josephson, M. (1996). Fourth amendment–must police knock and announce themselves before e. g. Microsoft Corporation (1995-2012). The Fourth Amendment [U. S. Constitution]. [ONLINE] Available at: http://www. lectlaw. com/def/f081. htm. (2012). The Fourth Amendment

Retail Store Manager

Retail Manager as TrainerBy  Malcolm Fleschner, Monster Contributing Writer Since founding The Friedman Group, a global retail consulting and training organization, in 1980, Harry Friedman has heard plenty of excuses from retail store executives who refuse to provide much training to their front-line store employees. One of the most common is: â€Å"What if I train them, and they leave? † Friedman says this is the exact opposite approach they should take. He suggests a better question is, â€Å"What if I don't train them, and they stay? † Cost of Not TrainingThe unfortunate reality, which anyone who ventures into a mall these days can confirm, is that today's retail store employees often lack basic sales and  customer-service  skills. This is especially true at the big-box stores where management is unconcerned about high turnover, Friedman says. Retailers that expect high turnover essentially ignore training but pay a price for doing so. â€Å"The decision to ne glect training is typically made by someone at the top who does not appreciate the value of a human asset and what they can mean to sales and the bottom line,† Friedman says. Retail is a merchandise-driven business, not a people-driven business, after all. † Nevertheless, Friedman estimates that with more effective training, most retail organizations could increase sales 15 percent to 25 percent. â€Å"That's a lot of money,† he says. â€Å"There's no chance they could hit those numbers any other way. † Management by Numbers Individual store managers would no doubt also appreciate increasing the six to eight hours that Friedman says retail stores typically devote to training new employees.But since a boost in training time is unlikely to happen, store managers must focus on those aspects of employee management they can control. To start, he suggests looking at two key numbers. The first is conversion rates, which means if a sales associate talked to 10 cust omers, how many bought something? â€Å"If you sold two out of the 10 people you talked to and you can bump that up to three of the 10 people you talked to, you've just increased your sales 50 percent,† says Friedman, author of  No Thanks, I'm Just Looking: Professional Retail Sales Techniques for Turning Shoppers into Buyers.The second number is average sale per customer. â€Å"There are two ways to increase this number,† he says. â€Å"One [is] by selling them the $40 item instead of the $30 one. Second [is by selling] the customer the $30 [item] and also $10 in batteries to make it work. † What Seems to Be the Trouble? Armed with this information, store managers can then determine which sales associates are performing well and which aren't. The next step is to uncover the source of any problems.If you have one sales associate with a low conversion rate, for example, you need to determine whether the problem occurs when the associate is demonstrating the mer chandise or when he is trying to close the sale, Friedman says. â€Å"You might find out it's up front,† he says. â€Å"[The associate] keeps approaching customers and saying, ‘Can I help you? ‘ and the customers say, ‘No thanks, I'm just looking. ‘ It doesn't matter whether he can close, because he's not getting out of the blocks in the first place.That's the opportunity for the manager to intervene and explain to this guy that he's using a terrible opening line. † Hit the Floor This type of hands-on coaching leads to another of Friedman's suggestions for store managers: Get into the fray. â€Å"The biggest missing ingredient I see in retail today is that managers are not running the store from the floor,† he says. â€Å"A lot of managers are either too busy with operational paperwork or making sales for themselves to do more than just hope their salespeople are doing a good job. The best store managers, Friedman says, are always  "pointing, pushing, doing and working the floor. They listen in, see how employees behave and what they say so that they can step in to reinforce the good behaviors and correct areas that need improvement.A good store manager is like a cop with a whistle directing traffic at a busy intersection. † You Can Survive the Behavioral InterviewBy  Carole Martin, Monster Contributing Writer When asked a traditional question like, â€Å"What would you do if you had a customer who wasn't interested in buying the product? you can make up a story. But when you're asked behavioral questions, the interviewer is listening for specific examples of how you have handled situations or problems in the past. When presented with interview questions beginning with phrases like â€Å"tell me about a time when† or â€Å"give me an example of† the interviewer wants to hear your real-life examples. When interviewers ask such behavioral interview questions, they are listening for example s of how you handled situations similar to the ones you may handle for this company. This is your chance to talk about your accomplishments.If you can demonstrate through examples (preferably recent ones) that you've succeeded in certain areas of interest, you'll likely be considered a strong candidate for the position. After all, if you did it somewhere else yesterday, you can do it for this company tomorrow. Your success stories should include the situation, the action you took and the result. Here is an example if you were interviewing for a sales position: The Situation:  I had a customer who did not want to hear about the features of my merchandise because of a prior interaction with my company.The Action:  I listened to her story and made sure I heard her complaint. I then explained how I would have handled the situation differently and how I can offer her better service. I showed her some facts that changed her mind about dealing with the company again. The Result:  She not only bought the merchandise, but also complimented how I handled her account. She is now one of my best customers. One way to prepare for behavioral interview questions is by writing out your stories before the interview. Determine what stories you have that would be appropriate for the position based on its job description.If the job requires dependability, write your story about a time when your dependability was recognized or made a difference with a customer. You can use the stories you prepare even when the interviewer does not ask behavioral questions. If you are asked a traditional question, use your prepared story and preface it with, â€Å"I can give you an example of a time when I used that skill on a previous job. † By  preparing for the interview  ahead of time and recalling your past successes, you will be able to have examples in mind and will not be caught off guard.There is no way you can predict what the interviewer is going to ask you, but you can p repare what you want him to know about your past as a predictor of your future performance. Retail Manager Job Interview Questions and AnswersHere are some of the retail interview questions that are related to the career in retail management: Tell us a bit about your professional background/educational qualificationThis question is asked, basically because the person applying for a retail management position would either have an educational degree as well as experience or a great experience in sales.Therefore, this question is aimed at finding out the professional details of the person. What do you feel is the role of a retail manager? This question is basically asked to find outfit you have a general idea of a retail manager’s job. Therefore, this is your chance to speak to the interviewer about what you know of the retail management business and what you think would be your responsibilities. Once you present the fact to the interviewer that you are aware what the role of a retail manager is, they will also be convinced that you are ready to take on the role of a retail manager.Some duties and qualities required of the retail manager are:†¢   Team leader and Team development†¢Ã‚  Ã‚  Hiring process, HR activities and employer’s training†¢Ã‚  Ã‚  Workplace scheduling – Day to day operations†¢Ã‚  Ã‚  Problem solving skills – Communications skills†¢Ã‚   Sales management†¢Ã‚  Ã‚  Product and project management – proffesional qualities and priortizationIf you have worked as a retail manager before, what did you like the most in your job and what did you not like?All jobs have their advantages and their disadvantages. Therefore, if you have worked somewhere as a retail manager, you would certainly have some good things to share as well as bad things to share. This question will give a deeper insight into your experience as a retail manager and whether you are fit for the job. What would you consider your biggest advantage as a retail manager?As a retail manager, or even as a novice, you would have a fair understanding of what would be the biggest advantage that a retail manager would require, or what is that something that a person learning to be a retail manager should have. Possible answers could be – Leadership (a born leader), sales manager or good communications skills. What do you feel are the basic qualities that a retail manager should have? The post of a retail manager is one that requires the person to have experience.Rarely will a novice be hired as a retail manager. Therefore, these questions will be posed at you to understand whether you have the knowledge required for a retail manager. If you are asked about the basic qualities of a retail manager, the safest answer would beplanning and vision. A retail manager is more or less the proprietor of the store and has many responsibilities as compared to the other store employees. If a retail manager is good at planning and has a vision for the future, he or she can take the company to the next level.Deliver excellent customer service and maintain a high standard of customer management, at all times Take full responsibility for the set-up and effective operation of the pub, within company policy, at all times Take full responsibility for the results achieved in the pub, including profit and loss (P&L) performance, Megastock, standards, Cask Marque and audits Ensure that opening and closing procedures are adhered to, in line with company policy, taking account of security and the health & safety of people and property Work in all areas of the pub, bar, floor, cellar, kitchen and office, to ensure that best practice is maintained by the team and that any areas requiring improvement may be identified Control all aspects of finance in the pub, including sales, gross profit, stock control, core wages and controllable expenditure Control all office administration procedures and ensure th at the management team complies with company standards Be accountable for all cash management throughout the pub, including third-party providers (such as ATMs, Securitas, AWP and SWP Machines etc); conduct thorough investigations for all cash-loss issues Review P&L account monthly with the team and area manager, agreeing on clear targets for improvements for any targets not achieved Maximise all sales opportunities in the business, including quality of food and drink service and availability, using all company point-of-sale as directed; have an understanding of all promotions and point-of-sale requirements and work with the team and area manager to maximise sales at every opportunity Forecast sales and wages weekly/quarterly, using the standard forecasting planner Be responsible for accurate rota-planning, based on forecast sales and core wage budget Plan all rotas in line with budgeted targets and forecasts, taking the necessary daily action to reduce/increase hours, in line w ith sales Manage all delivery processes, including checking in orders, storage, stock rotation, security, loss investigation and staff training Manage all stock-management processes, including timely stock counts, line checks, wastage reports, loss investigation and staff training Complete roduct-ordering on time, every time; ensure full availability of all drink, food and non-consumable items Follow all company security procedures, including loss prevention measures and procedures for the security of staff and premises, at all times Carry out risk assessments to ensure staff and customers’ safety; ensure the adherence to children-specific guidelines Monitor and manage all maintenance issues and manage third-party contractors, including cleaners, where applicable Be aware of and adhere to licensing, data protection, Health & Safety at Work and COSHH legislation, at all times Carry out commercial activities as instructedManage the pub team, including motivating and leading the team to work to the highest standards, at all times Identify and monitor training needs and take an active role in developing people Manage the day-to-day performance of staff and managers, in line with company personnel policies and procedures Manage the day-to-day attendance of staff and managers, in line with company sickness and absence management policies and procedures Deal with any employee complaints and/or grievances promptly, in line with company guidelines Manage and maintain correct staffing levels, in line with targets and in relation to sales-forecasting Communicate effectively with the team, through regular meetings – manager’s meetings to be held weekly and staff meetings to be held monthly, in line with the communications calendar Manage the timely distribution and briefing-in of all company communications Manage and maintain employee personnel & training files Identify recruitment needs and take an active role in search and selection activiti es and the appointment of staff, in line with the company recruitment process, ensuring that all paperwork (including ‘proof of right to work’ documentation) is certified, copied and completed, in line with Home office and company guidelines Maintain personal knowledge by completing in-house training, attending courses and completing workbooks Always adhere to all company policies and procedures and licensing laws Carry out any duties as instructed by area manager and head office

Economics of Health Care Assignment Example | Topics and Well Written Essays - 1250 words

Economics of Health Care - Assignment Example The statement is false because the incorporation of a subjective utility weight in the calculation of quality-adjusted life years does not affect the question of allocative efficiency. An allocative efficiency deals with the allocation of resources; on the other hand, cost-utility measures the quality of adjusted life years. The use of cost-utility will, therefore, be inappropriate when subjective utility weight is incorporated. According to Hurley (2010, 109), to address the question of allocative efficiency, it requires the use of the cost-benefit analysis. This is because the potential Pareto criterion method is required for the analysis (p.109). The result is negative. This means that the annual costs for carrying out the exercise are very expensive compared to the benefits that the university gets in terms of savings. Basing on the cost-benefit analysis, it is recommended that the university does not carry out the vaccination process. This is because of the high cost of this process. The program does not pass the cost-benefit analysis test because it gives a negative net benefit. Negative net benefit means that the implementation of the exercise would result in losses rather than gain in comparison to the effort used. The theory states that education induces greater taste for health. This means that health and education are causally related in instances where a third factor is missing. Focusing on the graph, it shows that both a better taste for more education and higher levels of learning are caused by the introduction of a third factor such as time. In this case, the lower rate of time leads to a greater investment in both variables resulting in a negatively sloping graph. For this graph, the two are not causal but have a correlation brought in by the introduction of a third factor that affects both variables. Â  

Marketing Mix of Louis Vuitton Assignment Example | Topics and Well Written Essays - 1000 words

Marketing Mix of Louis Vuitton - Assignment Example The service period which he spent with the emperor introduced him to the styles of elite and the royal clientele who enjoyed his services even after his death. The Louis Vuitton Malletier (LVM) was established in 1854 in Paris, which is now considered the world-renowned lifestyle brand dealing in luxury leather (Louis Vuitton, 2013). The success story of the brand clearly reflects that it was not a coincidence rather Louis Vuitton achieved this peak position in the business world through the use of perfect marketing strategies (Peter Finocchiaro, 2010). LVM has always been very creative in introducing new products, since the start it has been catering to the needs the customers with the supreme quality services. LVM has been successfully using the marketing mix which led the company to acquire the second place in the Luxury Marketer Awards of 2010. The brand has utilized the multichannel strategies which have bridged the gap between history and status of French Fashion (Peter Finocch iaro, 2010) as per the BBC News LVM has increased its sales in the first three months of 2011 by 17%. Researchers have given the credit of successful operations of LVM to its Marketing Mix (Catarina Duque, 2012). After the selection of the target market the prime concern of the management is to set the principles for marketing mix which is a combination of product strategies, pricing strategies, placing strategies and promotion strategies. These all are formulated on the basis of the preferences of target market.

World Economy Since 1945 Essay Example | Topics and Well Written Essays - 1750 words

World Economy Since 1945 - Essay Example However, strong popular beliefs regarding the negative effects of this school of economic thoughts have remained. The fall of the global economy since the 2008 financial crisis has led to the development of substantial popular resistance against neo liberalism. The US has made continuing efforts to introduce neoliberal policies on the third world countries, which are in the period of economic transition. It has been successful in achieving this objective and has received the support of the international bodies, such as, the World Bank and the IMF. According to common belief, neo liberalism refers to an up-gradation on the classical liberal economics. This classical liberal economics dominated majority of the UK and the United States before the Great Depression hit the world in the 1930s (Overbeek, 2003). A new approach started to enter the thought of economists since the mid 1930s, after the world faced the perils of liberal economic relations among market agents. This approach was c onsidered interventionist and tended to strengthen by the 1970s, when it was termed as the neo liberal economic thought. Under this new economic theory, it was accepted that, significant state intervention is required in order to retain the strength and shine of capitalist form of production relations. Without state intervention, capitalist mode of production relation cannot be viable (Kotz, 2000). An overview: European Stagnation It has been argued that the euro zone crisis had occurred as a result of â€Å"a toxic neoliberal economic policy cocktail† (Palley, 2013). This cocktail was developed in 1980s when Europe had begun to put emphasis on the model of neoliberal economic theory. By embracing this theory, income generation reduced and demand creation was suppressed. This gave rise to wide income inequality. However, the problem of stagnation did not appear immediately with the changes in economic decagons making in the European countries. A number of initial economic dev elopments during the late 1900s postponed the occurrence of stagnation. Among them, the most important incidence was the creation of the Euro. The common currency of the Euro zone countries led to â€Å"interest rate convergence† (Palley, 2013), which swelled up the asset price and eased credit availability facilities. This brought superficial prosperity in these economies owing to the asset price bubble. But, the fictitious boom in the economy actually worsened the stagnation by delaying it and building up large heaps of debts. These economies had followed a flawed system of monetary policies that caused the debt crisis. The neo liberal economic model thus prompted flawed economic growth pattern in the developed countries that had accepted this model during the 1970s and 1980s (Palley, 2013). Shift from Keynesianism to neo liberalism in Europe Europe was developing during the mid 1900s. However, after the 1945 there has been a major change in the pattern of economic growth o f the countries in Europe. Towards the end of the twentieth century, average buying power of a European consumer increased by three times. The basic factors that stimulated economic growth were cohesive associations between employers and the employees, solidarity-centred trade unions and an overall growth oriented policies of the governments. These institutions were interconnected with one another and worked consistently towards mobilization of savings and stabilizing wages and improve the climate for financial investment (Parker, 2013). However, after 1973 Europe switched from Keynesian economic point of view to the neo liberal economic thought. According to Barry Eichengreen, it resembled a switch from economic developm

Social network marketing Research Paper Example | Topics and Well Written Essays - 1500 words

Social network marketing - Research Paper Example A good communication network can give an organization an upper hand in the advertisement sector; this can either be marketing or conveying urgent information to the public. In an education institution for example, it is very useful in educating people, a good communication network can be used efficiently in conveying information to the students. It attracts even those people who are not even directly involved in the institution hence it reaches out to a large area network. In the past the means of communication were not so advanced and it took long to convey information to a wide area network, this, however has changed over time and the communication network is getting more and more efficient such that you can reach anyone you like , anywhere and with very minimal time (Bosari, J. 2012, pp 53). The social media has been the core of communication in this era, hence for an institution it is very recommendable that there is a social media means of conveying information to the members an d public. Social media is the best tool for marketing available to the people right now, communication is simplified, and there are minimal delays. However for one to come up with an efficient social networking site it takes a lot of dedication and patience, it is not built in a day and one has to work hard to make their social network site efficient in the field. Social media marketing is a branch of internet marketing that entail the use of the internet to reach out to other people. Social network marketing therefore is a fundamental tool for an organization aiming to maximize on their marketing chances. Social media networking is open to many different form of communication, this include; the use of video calls, audio or voice messages, and written messages. This is possible when using social sites to convey information (Cambia, E. Et Al. 2011, pp 59). It goes without doubt that social media networking is the most efficient method for educational institutional marketing, in addit ion to the many advantages of social media; it also gives the liberty to navigate through different links and access more information from the internet. It can be used as a way of uniting other communication networks. The advantages of social media marketing are almost limitless; this mode of communication gives room for even very small corporate or business entities to, market their products without any form of victimization so long as they have an effective social media account, one that can be easily accessed by many individuals. Engaging in online conversations is a very effective way of using the social media to convey information to individuals (Deis, H. & Kyle, H. 2010, pp 87). One could also use the social media to combine it with other promotional brands to better their products; it gives room for research on the products and gain extra information on the marketing strategies. This is done in an entertaining and more interactive way such that you have direct access to your target audience. It is like having a personal conversation, but from very different geographical positions. Having online conversations is the most effective way of having a basis for a better background in making a reliable social site. It helps one to gain the confidence of other institutions such that they can give you access to some of their internet products hence expands the range of potential contacts and audiences. Social media network is no longer a trend, it is a necessity in the marketing industry and a must have for every serious institution. Research has it that more than 94% of all institutions in the world use social media network as their preferred marketing option. social media not only