Friday, January 17, 2020
The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new movies each year. The financial success of each motion picture varies considerably. The opening weekend gross sales (in millions), the total gross sales (in millions), the number of theaters in which the movie was shown, and the number of weeks the motion picture was in the top 60 for gross sales are common variables use to measure the success of a movie. Data Collected for a sample of 100 movies produced in 2005 are contained in the file named Movies. xlsx. This file is attached to the assignment link on Blackboard. Using this data prepare an executive summary detailing how each of the variables help explain the total gross sales. In other words, your total gross sales is a function of opening gross sales, number of theaters, and number of weeks in the top 60. The executive summary will contain the following parts. 1. What are your initial assumptions or hypotheses? Which of the variables have the highest correlation with total gross sales? IE, which variables to you think make the most difference toward total gross sales? By studying the information, I believe the variable with the highest correlation with total gross is the opening gross sales. The movie with the highest opening gross also ends up with the highest total gross sale. 2. Develop the descriptive statistics for each of the four columns. 3. Develop tabular and graphical summaries for each of the four variables along with a description of what each summary tells us about the motion picture industry, if anything. 4. Develop a scatter diagram to explore the relationship between total gross sales (y) and opening weekend sales (x). Display the regression and slope equations with a trend line. . Develop a scatter diagram to explore the relationship between total gross sales (y) and Number of theaters(x). Display the regression and slope equations with a trend line. 6. Develop a scatter diagram to explore the relationship between total gross sales (y) Number of weeks in the top 60 (x). Display the regression and slope equations with a trend line. 7. Which of these three variables have the most effect on total gross sales? Does this make sense to you? Why or Why not? * T he variable that effects the total gross sales the most is the opening sales with R? = 0. 9298. It does make sense to me because usually If the movie does not start with a high opening gross, meaning people donÃ¢â¬â¢t go to premier, it will start falling behind as other movies are following to come out. 8. Does this final analysis square with your initial assumptions or hypothesis? Why or why not? -Yes it does, in my hypothesis I came to the conclusion that opening gross was the main variable and had the most effect as it was shown in the data given, and It made sense to me since I watch a lot of movies, usually if it doesnÃ¢â¬â¢t start with a high gross, it will not have a great total gross sales if comparing to other movies. . If you were the marketing executive in charge of spending $100 million to promote the new Iron Man 3 movie coming out this summer, where would you concentrate your money and efforts? Why there? -I would concentrate the money in trailers and commercials as this is how it will show consumers how the movie will be, a sneak peak which everyone loves, an d for the ones that donÃ¢â¬â¢t have an idea of what the movie is about, it will show them and will most likely encourage them to watch the movie, pretty much it pumps up people and excite them to watch the movie.
Thursday, January 9, 2020
Book Report Over Tangata O Le Moana As an exchange student from the United States of America, I knew next to nothing about New Zealand and its history. When I chose my classes for my semester abroad, I wanted to learn as much as I could about the country that would soon be my home. I decided to take PASI 101 because I knew that there would be no better way to learn about the history and culture of New Zealand. I come from a state that is nowhere near the pacific. I had not met a pacific islander in my lifetime. When I entered my first lecture in PASI 101, I found myself surrounded by people who I knew nothing about, and I became thrilled at the thought that this class would help me understand them. Tangata O Le Moana is the required text for PASI 101. It is about the history, lives, and hardships of the pacific people in New Zealand and the islands. This textbook has helped guide me through the class while also providing a way to help me understand the foreign country that is now my home. Throughout this essay, I will summarize the information that is given throughout the book. Then, I will select a few chapters that changed my way of thinking about the pacific while also giving outside sources that helped further my understanding of these chapters. Finally, I will conclude my report on how and why Tangata O Le Moana helped me have a firm grasp on what pacific heritage means to their people. Tangata O Le Moana is a textbook that includes a variety of essays that cover
Wednesday, January 1, 2020
The EPR paradox (or the Einstein-Podolsky-Rosen Paradox) is a thought experiment intended to demonstrate an inherent paradox in the early formulations of quantum theory. It is among the best-known examples of quantum entanglement. The paradox involves two particles that are entangled with each other according to quantum mechanics. Under the Copenhagen interpretation of quantum mechanics, each particle is individually in an uncertain state until it is measured, at which point the state of that particle becomes certain. At that exact same moment, the other particles state also becomes certain. The reason that this is classified as a paradox is that it seemingly involves communication between the two particles at speeds greater than the speed of light, which is a conflict with Albert Einsteins theory of relativity. The Paradoxs Origin The paradox was the focal point of a heated debate between Einstein and Niels Bohr. Einstein was never comfortable with the quantum mechanics being developed by Bohr and his colleagues (based, ironically, on work started by Einstein). Together with his colleagues Boris Podolsky and Nathan Rosen, Einstein developed the EPR paradox as a way of showing that the theory was inconsistent with other known laws of physics. At the time, there was no real way to carry out the experiment, so it was just a thought experiment or gedankenexperiment. Several years later, the physicist David Bohm modified the EPR paradox example so that things were a bit clearer. (The original way the paradox was presented was somewhat confusing, even to professional physicists.) In the more popular Bohm formulation, an unstable spin 0 particle decays into two different particles, Particle A and Particle B, heading in opposite directions. Because the initial particle had spin 0, the sum of the two new particle spins must equal zero. If Particle A has spin 1/2, then Particle B must have spin -1/2 (and vice versa). Again, according to the Copenhagen interpretation of quantum mechanics, until a measurement is made, neither particle has a definite state. They are both in a superposition of possible states, with an equal probability (in this case) of having a positive or negative spin. The Paradoxs Meaning There are two key points at work here which make this troubling: Quantum physics says that, until the moment of the measurement, the particles do not have a definite quantum spin but are in a superposition of possible states.As soon as we measure the spin of Particle A, we know for sure the value well get from measuring the spin of Particle B. If you measure Particle A, it seems like Particle As quantum spin gets set by the measurement, but somehow Particle B also instantly knows what spin it is supposed to take on. To Einstein, this was a clear violation of the theory of relativity. Hidden-Variables Theory No one ever really questioned the second point; the controversy lay entirely with the first point. Bohm and Einstein supported an alternative approach called the hidden-variables theory, which suggested that quantum mechanics was incomplete. In this viewpoint, there had to be some aspect of quantum mechanics that wasnt immediately obvious but which needed to be added into the theory to explain this sort of non-local effect. As an analogy, consider that you have two envelopes that each contain money. You have been told that one of them contains a $5 bill and the other contains a $10 bill. If you open one envelope and it contains a $5 bill, then you know for sure that the other envelope contains the $10 bill. The problem with this analogy is that quantum mechanics definitely doesnt appear to work this way. In the case of the money, each envelope contains a specific bill, even if I never get around to looking in them. Uncertainty in Quantum Mechanics The uncertainty in quantum mechanics doesnt just represent a lack of our knowledge but a fundamental lack of definite reality. Until the measurement is made, according to the Copenhagen interpretation, the particles are really in a superposition of all possible states (as in the case of the dead/alive cat in the Schroedingers Cat thought experiment). While most physicists would have preferred to have a universe with clearer rules, no one could figure out exactly what these hidden variables were or how they could be incorporated into the theory in a meaningful way. Bohr and others defended the standard Copenhagen interpretation of quantum mechanics, which continued to be supported by the experimental evidence. The explanation is that the wave function, which describes the superposition of possible quantum states, exists at all points simultaneously. The spin of Particle A and spin of Particle B are not independent quantities but are represented by the same term within the quantum physics equations. The instant that the measurement on Particle A is made, the entire wave function collapses into a single state. In this way, theres no distant communication taking place. Bells Theorem The major nail in the coffin of the hidden-variables theory came from the physicist John Stewart Bell, in what is known as Bells Theorem. He developed a series of inequalities (called Bell inequalities), which represent how measurements of the spin of Particle A and Particle B would distribute if they werent entangled. In experiment after experiment, the Bell inequalities are violated, meaning that quantum entanglement does seem to take place. Despite this evidence to the contrary, there are still some proponents of the hidden-variables theory, though this is mostly among amateur physicists rather than professionals. Edited by Anne Marie Helmenstine, Ph.D.
Tuesday, December 24, 2019
Fire is very common in basic human life and has many purposes. With its many uses, fireÃ¢â¬â¢s symbolic meaning is open to various interpretations. In regards to Fahrenheit 451 fire can symbolize knowledge, destruction, and also rebirth. Ray Bradbury illustrates correctly the ambiguity of fireÃ¢â¬â¢s metaphors through Montag. As Montag gains new perspectives on fire readers are shown that fire is a very prominent symbol with multiple meanings. Bradbury first depicted fire as a hurtful force through Montag, a fireman, who burn books. With the converted mentality of his culture, Ã¢â¬Å"it was [MontagÃ¢â¬â¢s] pleasure to burn. It was a special pleasure to see things eaten, to see things blackened and changedÃ¢â¬ (3). MontagÃ¢â¬â¢s culture sees burning as an enjoyment;Ã¢â¬ ¦show more contentÃ¢â¬ ¦This shows the trust and solace that fire can give, where Montag and his mother had shared a bond in the vast and paralyzed society around them, roused by the light of a small flam e. Introducing words such as Ã¢â¬Å"rediscovery, illumination, comfortablyÃ¢â¬ Bradbury starts Montags mental change and starts to evolve the meaning of fire. In a similar way, the woman who burns to death with her books comments before she dies: Ã¢â¬Å"We shall this day light such a candleÃ¢â¬ ¦as I trust shall never be put outÃ¢â¬ (36). The candle she refers to embodies the trigger of revolutionary thinking that changes Montag and his understanding of culture. This fire, instead of destroying, creates hope and rebirth. In addition to the womanÃ¢â¬â¢s dying words later in the book Montag is inspired by GrangerÃ¢â¬â¢s telling of the Phoenix. Granger mentioned that Ã¢â¬Å"[Pheonix] must have been first cousin to ManÃ¢â¬ which is saying that men and the phoenix are alike in the sense that they resurrect every certain amount of years (163). The comparison between Man and the Phoenix is compelling because it gives the reader a feeling of self-renewed hope toward mankind, particularly since Man can look back on the mistakes that he has made and would like to gain from them later on. Throughout history, fire is depicted as a symbol of knowledge and self- awareness. Towards the end of the novel, Montag himself begins to understand the restoring and encouraging power of fire that is
Sunday, December 15, 2019
Since the beginning of time, the built environment has been an integral part in providing shelter needs for men, women and children. Maslow (1943) formulated that shelter is a basic requirement of humans. In the future, humans will have to construct sustainable shelter otherwise would they would risk depleting resources for subsequent generations. We will write a custom essay sample on Sustainable Housing and Urban Construction or any similar topic only for you Order Now Construction is an example of a multitasking activity. The lifecycle of construction can be broken into phases. Achieving building sustainability in modern environment requires a better understanding of environmental impacts. Impacts such as climate change, associated costs, as well as utilising benchmarking scale to measure across a whole range of building types and occupancies. This report will discuss building sustainability, the constraints that stake holders of built environment face, and the role of architects in the process of constructing sustainable buildings. Conceptually, sustainability is allowing present generation to meet its needs without depriving later generations of a way to meet theirs. According to Meckler (2004), building sustainability means to Ã¢â¬Å"provide a safe, healthy, comfortable indoor environment while simultaneously limit the reduction of the earthÃ¢â¬â¢s natural resourcesÃ¢â¬ . Architects, with their unique position within the built environment, are well equipped to meet the challenges of sustainability in the built environment. The building and construction industry possesses a high ability to be innovative (Meckler 2004), and through this innovation that it would create new methods and processes resulting in constructing improved sustainable buildings that can be serve as subsequent yearÃ¢â¬â¢s benchmark to beat. The construction industry has invested in research and development into sustainability in order to gain a clearer understanding the effect of building on the environment and reducing the impact of buildings on the environment. The common goal is to be Ã¢â¬Å"energy efficientÃ¢â¬ . Being energy efficient does not equate to being energy sustainable. The energy from the traditional fossil sources cannot be supplied without using further considerable amount of energy in supplying it. The efficiency of the energy lifecycle starting from the raw extraction of resources, preparation, transport, conversion and distribution to application may be up to 20%. To equate this in simple terms is that it takes approximately 5kWh to deliver 1kWh of energy for consumption. So in order to consume 1kWh of energy, the real term consumption is actually 6kWh. Numerous studies internationally have shown that operational energy consumes the main amount of total energy use in buildings during a typical service lifespan of approximately 50 years. This accounts for about 85Ã¢â¬â95% of total energy use (Thormark, 2005). From a residential perspective, there should be a focus more on the sustainable development of the residential buildings and urban constructions. The fundamental reason new and more energy-efficient technologies continue to be ignored and the technologies that are applied rarely perform as efficiently as they should is because of a lack of accountability for building energy performance in current building design and operation practices. The building and construction industry in Australia has made significant progress forward in the last 5 years to improve their environmental performance. This improvement has been in response to increased attention from local and state government policies regarding to Ecological Sustainable Development (ESD), as well as the availability of holistic environmental rating tools such as the Green Building Council of AustraliaÃ¢â¬â¢s Green Star rating tools. Architects factor in climatic variables into their thoughts as they design and plan houses, premises and buildings (Alnaser Flanagan 2007). In hot dry regions such as in the Northern Territory, the built environment should be planned compactly to reduce the amount of surfaces exposed to solar radiation. In warm humid regions such as in Queensland, buildings should be openly spaced to maximize air movement between individual buildings. This would reduce the structure operational energy consumption and maximise Green Star rating. Green building is a tremendous growth area in design, construction and building materials. Green building has gained momentum due to the rise in energy costs and cost of building materials. The happy medium is somewhere between a combination of passive measures through optimal building design and active measures achieved through efficient mechanical system designed to control the indoor climate. These active measures mentioned above include utilizing renewable energy, such as solar energy, wind energy and geothermic energy, improving thermal performance of building structure, utilising daylight and energy efficient lightings, and developing new sustainable building materials (Thormark, 2005). Another aspect of sustainability that is often neglected is social sustainability. Social sustainability can be thought of as qualitative indicators that complement the development process. Some social sustainability objectives are to provide adequate local services and facilities to serve the development, to provide housing to meet the needs of the population, to provide high quality, habitable developments and where possible to preserve local culture and heritage. In any actual development, there is a need for other supporting elements to make it appealing and sustainable. An integral part of the development is to provide high quality energy efficient buildings for community activities such as musicals and outdoor space for open markets. By having such gatherings, the community will get a sense of ownership and will utilise the facility frequently. A salient aspect of sustainable development is to provide a mix of housing structures of all different types (Zhu Lin, 2003). In order to achieve the objective of providing affordable housing; designs and construction must be of high quality and yet utilises minimal resources. Wherever possible, cultural heritage should be preserved through the reutilising of local valued buildings. If cultural preservation is achieved, the architectural design for the developments will reflect local heritage and use local materials. According to Williams and Dair (2007), there are 9 commonly identifiable barriers to achieving sustainability. Some of these barriers are: 1. Sustainability measure was not considered by stakeholders 2. Sustainability measure was not required by client (includes purchasers, tenants and end users) 3. The sustainability measure cost too much (in some cases the investor would not fund) Unless sustainability is on the agenda of the local planning government, stakeholders are unlikely to voluntarily put sustainability measures on their agenda. Stakeholders were simply bypassing sustainability issues altogether. As with most local government planning policies, there are strict guidelines regarding social objectives, such as meeting housing needs. If a policy is active at the forefront of development then they appeared on stakeholdersÃ¢â¬â¢ agendas. Many architects have the ability to succeed in achieving a higher star rating for energy efficiency for their built environment projects. They have been doing so for a while. The challenges of sustainability in the future should not be construed as extra attachments to how architects have designed in the past. Architects have the inherent ability to go back to the drawing board and to reinvent the design process to reflect the buildings needed for the future. Architects have a vital role to play. They are a part of key decision making mechanism in the building and construction industry. Going forward, their role will be inextricably linked to producing sustainable outcomes. There are many indicators for sustainable building design (Smith 2001). (a)Identifying possible sources to generate renewable electricity on location, i. e. like Building-Integrating Photovoltaic (BIPV). (b)Minimal usage of fossil fuel energy sources used during the lifetime of the building. (c)Ensuring that building management systems are user friendly simple to operate. (d)Implementing passive or active solar energy while employing heating and cooling systems which are fine tuned to the needs of the occupants with air-conditioning used only in exceptional circumstances. As we progress into the future, the need to provide shelter increases due to population growth. The building structures needed for this growing demand have to be environmentally and socially sustainable. There is a global increase in awareness of the diminishing supply of traditional fossil fuel resources. Fossil fuels make up the core heating and cooling energy consumption presently. In order to achieve sustainability and leave the next generation able to meet their needs, there are short term increased economic costs as the transition from traditional dependent on fossil fuels to alternative energy sources. These barriers have to be overcome and the role of the architect in the overall schema is extremely important. They possess the necessary design skills to adapt to the changing needs and produce sustainable commercial and residential . REFERENCES Ã¢â¬ ¢N. W. Alnaser_, R. Flanagan (2007). The need of sustainable buildings construction in the Kingdom of Bahrain. Building and Environment 42 (2007) 495Ã¢â¬â506 Ã¢â¬ ¢T. HARTMAN. (2008). A Vision for Energy Performance Integrating performance Ã¢â¬â monitoring initiatives to improve building sustainability. HPAC Engineering Ã¢â¬ ¢ May 2008 Ã¢â¬ ¢Maslow, A. H, (1943). A THEORY OF HUMAN MOTIVATION, Originally Published in Psychological Review, 50,370-396. 1943 Ã¢â¬ ¢C. McCabe. (2006). Environmental Sciences and Pollution Management. Sustainable building design in Australia. Eco-Architecture: Harmonisation between Architecture and Nature. Vol. 1, pp. 237-245. 7 Jun 2006. Ã¢â¬ ¢M. Meckler. (2004). Achieving Building Sustainability through Innovation Engineered Systems. Ã¢â¬ ¢L. Nervenga. Specifying for Sustainability. Architecture Australia 1904-2006 Ã¢â¬ ¢FS Smith. Architecture in a climate of a change: a guide to sustainable design. UK: Architectural Press, An imprint of Butterworth-Heinemann; 2001. Ã¢â¬ ¢C. Thormark. (2005). The effect of material choice on the total energy need and recycling potential of a building. Building and Environment 41 (2006) 1019Ã¢â¬â1026 Ã¢â¬ ¢K Williams C Dair (2007). What Is Stopping Sustainable Building in England? Barriers Experienced by Stakeholders in Delivering Sustainable Developments. Sustainable Development Sust. Dev. 15, 135Ã¢â¬â147 Ã¢â¬ ¢Yingxin Zhu, Borong Lin (2003). Sustainable housing and urban construction in China. Energy and Buildings 36 (2004) 1287Ã¢â¬â1297 How to cite Sustainable Housing and Urban Construction, Papers
Saturday, December 7, 2019
Wages and salaries play a very important role in determining the conditions of employment. The relationship between employers and employees depends mainly on wages. Wage and salary administration refers to the framing and implementation of policies and practices pertaining to employee compensation. Its includes development of wage structure ,wage surveys, wage incentives, profit sharing, wage adjustments and other related items concerning payment. Wages and salaries constitute a major part of the total cost in most of the organization. . What is Wage and Salary The wage is the remuneration paid by the employers to his employees. According to laissez faire policy, wage is the price paid to the worker for the services he has sold to the employer. It is a compensation paid to the worker in return for the contribution he makes for the achievement of the corporate objectives (Khanzode, 1992: 118). Wage may be defined as payment for the use of labor (Khanna, 1992: 30-1). The wage is the price for the use of human efforts (Ahuja, 1993: 927). Wages is the widest sense means any economic compensation paid by the employer under some contract to his workers for the services rendered by them. Wage therefore includes family allowance, relief pay, financial support and other benefits. But, in the narrower sense, wages are the price paid for the services of labour in the process of production and include only the performance wages or wages proper. They are composed of two parts the basic wage and other allowance. As salary is a compensation to an employees for the personal services rendered on weekly, monthly or annual basis. They differ from employee to employee, and depend upon the nature of job, seniority and merit. 2. 1 Difference between Wage and Salary Wage is compensation to the employees for services rendered to the organization. In case the quantum of services rendered is difficult to measure, then the payment is called salary. Normally the wage period is shorter than the salary period. Wage usually refers to an hourly rate, and salary to a weekly or semi-monthly rate. So if a wage earner works 40 hours one week and 45 the next week, he gets paid more for the second week. A salaried worker works long enough to get the job done and usually gets the same pay every payday. Salary workers tend to get better benefits. They also get paid time off, which is not always true for hourly workers. They donÃ¢â¬â¢t have to punch a time clock. And the salary is a fixed amount every pay period, which makes it easier to set a budget. Usually people checking credit prefers to see a salary, which provides a consistent pay without any fluctuations due to schedules changes and illness etc. On the plus side, hourly workers get paid. Wage is paid to the labor directly involved in production either receives money hourly, weekly or monthly . while salary is paid to the worker and staff related to administration and selling. Wages become part of the product cost, while the salary treated as selling and administrative expense. 3. 0 Wages and Salary Administration The term Ã¢â¬Å"wage and salary administrationÃ¢â¬ has come to be accepted as the designation for that field of endeavour concerned with the establishment and implementation of sound policies and methods of employee compensation. It includes such areas as job evaluation, development and maintenances of wage structures, wage incentives, wage changes and adjustments, profit sharing, control of compensation costs and other related by items (Haq, 2000: 176). Wage administration is a systematic procedure for establishing a sound compensation structure. Wages and salary surveys are designed to determine the general pay level in the community and industry, thus giving a company a base for setting its own rates. Job evaluation establishes the relationships between wages on various jobs within the organization. Together, wage surveys and job evaluation set the base on minimum rates for each job (Strauss amp; Sayles, 1985: 123). Formerly wage rates in organization, whether in industry or in government organizations, tended to be established in a haphazard fashion, with little consideration given to consistency within the organization according to differentials in job requirements or to consistency with prevailing wages paid in other establishments. The movement in industry for the development and adoption of sound principles and practices of wage and salary administration had its infancy in the 1920Ã¢â¬â¢s and 1930Ã¢â¬â¢s and in the 1950Ã¢â¬â¢s became more mature with the general acceptance of the ideas and methods earlier. 3. 1 Nature and Purpose of Wage and salary Administration The basic purpose of wage and salary administration is to establish and maintain an equitable wage and salary structure. Its secondary objectives is the establishment and maintenance of an equitable labor-cost structure, i. e. an optional balancing of conflicting personnel interests so that the satisfaction of employees and employers is maximized and conflict maximized. The wage and salary administration is concerned with financial aspects of needs, motivation and rewards. A sound wage and salary administration seeks to achieve the following objectives (Monappa amp; Saiyadain, 1997: 253-254): a. Cost control. b. To establish and maintain equitable wage and salary structure. c. Using wages and salaries as an incentive to greater employee productivity. d. To maintain a good public image; e. To attract talented personnel. 3. 2 Principles of Wage and Salary Administration The following are the Principles of wage and salary administration (Haq, 2000: 184-185). a. Wage should enable the workers to maintain the standard of living which they are accustomed. b. Wage system should envisage a scheme of incentives in the form of extra remuneration, bonus or premium to meritorious workers for their extra skill work man ship, prompt performance etc. c. Wage plan should as to encourage even the beginners. With addition to experience and skill, wages should be raised in a phased way. d. Wage plan should be stable but sufficiently flexible to permit adjustment according to changing conditions e. Wage plan should be simple and intelligible to average worker. Complicated procedures confuse the workers and create suspicion among them. f. Wages should be such as to attract talented personnel related to the educational, professional and general abilities of the personnel in different grades and positions. g. Wage policies should be carefully developed, having in mind the interest of (a) Management as the representative of the owner. The employees (c) the consumers and (d) the community. . Wage policies should be expressed in writing to ensure uniformity and stability. i. The general level of wages and salaries should be reasonably in line with that prevailing in the labor market. j. Wage decisions should be checked against carefully formulated policies. k. Equal pay for equal work: If two jobs have equal job difficulty requirements, the pay should be the same regardless of who fills them. l. There should be a clearly established procedure for hearing and adjusting wage complaints. This may be integrated with the regular grievance procedure, if one exist. . The employees, and the union, if there is one, should be adequately informed about the procedure used to establish wage rates. Every employee should be informed of his own position in the wage or salary structure. Secrecy in wage matters should not be used as a cover up for a haphazard and unreasonable wage programme. n. A firmly established and enforced set of wage control plans will serve to assure that established practices and procedures are actually operated in the manner originally intended. 4. 0 Types of wages Wages are following types a. Subsistence Wage A subsistence wage is the amount necessary for the worker and his family to subsist, though only at a meager standard (Haq, 2000: 179). b. Minimum Wage According to this, the workers should be assured a minimum amount as their remuneration so that none will grumble that he getting below the minimum. But the question arises as to what should be the level of minimum wages and how to fix it. The only way to arrive to the minimum wages is to totally it with the standard of living and the cost of living index (Haq, 2000: 180). c. Fair Wage It aims at giving the workers a fair or in other words, the total emoluments would be such as to assure the workers a fair level of subsistence and amenities. This is between the subsistence wage and the living wage. It considered that no employer should pay less than a subsistence wage but that any Company that is prosperous enough to do should pay more. But the word Ã¢â¬Å"fairÃ¢â¬ is a relative term-what is fair for A. may be unfair B. Therefore, although many exponents have talked about Ã¢â¬Å"fair wageÃ¢â¬ no Company appears to have introduced this in view of practical difficulties (Haq, 2000: 180). d. Living wage A living wage represents a much higher standard than a subsistence wage. A living wage is generally understood to comprise of that sum of money sufficient to adequately meet them the material, intellectual and spiritual needs of an average working small family in conditions of reasonable health, comfort and efficiency (Haq, 2000: 180). 5. 0 Factors affecting Wages and Salaries There are several factors which affect the wage rate of organization. Some of them are discussed below: a. Ability to pay Organizations which have high sales and profit are able to pay high and salaries to their employees than those which are running at a loss or having low profits. During the period of prosperity, companies pay high wages and during the period of depression wages are cut because funds are not available. b. Supply and demand The demand and supply position of labour affects the determination of wage rates. If there is shortage of labour in the market then the wage rates are high, whereas if the labour supply is continuous then the wage rates are low. . Bargaining capacity If the labourers are organized into trade unions their capacity to bargain increases and can demand for higher wage rates. d. Cost of living. If a company is to achieve a high level of efficiency and morale, it must pay wages that are high enough to enable its employees to enjoy an adequate standard of living; otherwise some employees may be forced to supplement their incomes by maintaining a second job. Other employees may leave for better jobs. e. Government policies The government policies effect the wage rates. To protect the interest of the labourers especially in the unorganized sector, the government fixes minimum wages through legislative measures. f. Prevailing community wage rates In order for a company to recruit and retain good personnel, its wages rates must be comparable to those paid by other companies within the community for similar types of jobs. g. Industry wages A companyÃ¢â¬â¢s wage policy will, voluntarily or involuntarily, tend to confirm to the wage pattern in its industry, for several reasons. First, competition demands that competitors adheres to the same relative wage level. Second, trade associations encourage uniform wage structures through the dissemination of wage information, including wage and salary surveys, to their members can have Ã¢â¬Å"equal pay for equal jobsÃ¢â¬ and in order to eliminate geographical differences. h. Job requirements The difficult the job, the higher the wages. The toughness of the job can be ascertained by comparing one job to another in an organization. Job grading is done on the basis of skill, effort, responsibility and job conditions. 6. 0 Factors Guiding Wage Fixation for Industrial Workers Factors which guide the fixation of wage for industrial workers are: a. Capacity of the industry to pay; b. Productivity and skill of labour; c. Prevailing rates of wages for the same or similar occupations in the same or neighbouring localities; d. The level of the national income and its distribution; and e. The place of the industry in the economy of the country. Wage negotiation of training call for knowledge and skill. Functionally and by reason of training, the personnel department is best fitted to handle wage policy of a company. Personnel department cannot be responsible for calculating and paying wages. It is an accounting function of the personnel department, which do it in consultation with the respective department or section heads (Pylee amp; George, 1995: 125-126). 7. 0 Wage Differentials Wages differ in different employments or occupations, industries and localities, and also between persons in the same employment or grade. One therefore comes across such terms as occupational wage differentials, inter- industry inter-firm, inter-area or geographical differentials and personal differentials. Wage differentials have been classified into three categories: First, the differentials that can be attributed to imperfections in the employment markets, such as the limited knowledge of workers in regard to alternative job opportunities available elsewhere; obstacles to geographical , occupational or inter -firm mobility of workers; or time lags in the adjustment of resource distribution and changes in the scope and structure of economic activities. Examples of such wage differentials are inter-industry, inter-firm, and geographical or inter-area wage differentials. Second, the wage differentials which originate in social values and prejudices and which are deeper and more persistent than economic factors. Wage differentials by sex, age, states or ethnic origin belong to this category. Third, occupational wage differentials, which would exist even if employment markets were perfect and social prejudices, were absent. In other words, wage differentials may be: i. Occupational differentials or differentials based on skill; ii. Inter-firm differentials; iii. Inter-area or regional differentials; iv. Inter-industry differentials; and v. Differentials based on sex. i. Occupational Differentials These indicate that since different occupations require different qualifications different wages of skill and carry different degrees of responsibility, wages are usually fixed on the basis of the differences in occupations and various degrees of skills. The basic functions of such differentials are: a) To induce workers to undertake Ã¢â¬Å"more demandingÃ¢â¬ , Ã¢â¬Å"more agreeable or dangerousÃ¢â¬ jobs or these involving Ã¢â¬Å"a great chance of unemployment or wide uncertainty of earningsÃ¢â¬ . ) To provide an incentive to young persons to incur the costs of training and education and encourage workers to develop skills in anticipation of higher earnings in future; c) To perform a social function by way of determining the social status of workers. In countries adopting a course adopting a course of planned economic development, skill differentials play an important role in manpower and employment programs, for they considerably help in bringing about an adequate supply of labour with skills corresponding to the requirements of product plans. Inter-occupational differentials may comprise skilled, unskilled and manual wage differentials; non-manual and manual (white and blue-collar); and general skill differentials generally follow the changes in the relative supplies of labour to various occupations. ii. Inter-firm differentials Inter-firm differentials reflect the relative wage levels of workers in different plants in the same a) Differences in the quality of labour employed by different firms; b) Imperfections in the labour market; and c) Differences in the efficiency of equipment, supervision and other non-labour factors. Differences in technological advance, managerial efficiency, financial capacity, age and size of the firm, relative advantages and disadvantages of supply raw materials, power and availability of transport facility facilities Ã¢â¬â these also account for considerable disparities in inter-firm wage rates. Lack of co-ordination among adjudication authorities, too, are responsible for such anomalies. iii. Inter-area or Regional Differentials Such differentials arise when workers in the same industry and the same occupational group, but living in different geographical areas, are paid different wages. Regional wage differentials may be conceived in two senses. In the first sense, they are merely a part of inter-industry differentials a particular region. In the second sense, they may represent real geographical differentials, resulting in the payment different rates for the same type of work. In both cases, regional differentiations affect the supply of manpower for various plants in different region. iv. Inter-industry differentiations These differentials arise when workers in the same occupation and the same area but in different industries are paid different wages. Inter-industry differentials reflect skill differentials. The industries paying higher wages have mostly been industries with area and occupation. The main causes of inter-firm wage differentials are: a large number of skilled workers, while those paying less have been industries with a large proportion of unskilled and semi-skilled workers. Other factors influencing inter-industry differentiations are the extent of urbanization, the structure of product markets, the ability to pay, labour-capital ratio, and the stage of development of an industry. Personal wage differentials These arise because of differences in the personal characteristics of workers who work in the same plant and the same occupation. Ã¢â¬Å"Equal pay for equal workÃ¢â¬ has been recommended by the I. L. O. convention (No. 100), as also by industrial courts, Labour Tribunals, the Minimum Wages Committee and the Fair Wages Committee. But in practice this principle has not been fully implemented because in occupations which involve strenuous muscular work, women workers, if employed, are paid less than men workers. Lack of organizations among women employees, less mobility among them, their lower subsistence and their weak constitution are other reasons which bring them lower wages than their male counterparts receive. 8. 0 Methods of Wage Payment System The various method of wage payment may be classified as given below: 8. 1 Conventional methods a. Time Rate It is also known as Ã¢â¬Ëday rate systemÃ¢â¬â¢. Under this system the worker is paid only on the basis of time he has worked on his job and no consideration is given to the quality and quantity of work completed by him. The longer the worker remains on his job, the higher is the payment. The formula for calculating wages under this system is: Total amount earned= no. of hours, days, etc, worked ? rate per hour, day, etc. There is no fixed rule for time rate. For instance when high level professionals are engaged on contract basis their duration is longer and payment is on their higher side. Whereas unskilled workers are usually engaged for a short period and the rate at which they are paid is quite low. Advantages of time rate a. It is simple method and the labourers can know how much remuneration they will get. b. Since the wages are fixed, the workers have not to rush to reach a particular level of output. . It is beneficial for the freshers as in the beginning they cannot give a higher output but they are assured of a fixed remuneration. d. As the wage do not depend on output, the workers can produce quality goods. Limitations I. This system does not distinguish between efficient and inefficient workers and there are no incentives for the workers to increase their inefficiency. II. Since wages are not related to output it makes difficult to control labor costs. III. As it gives security to the workers they are tempted to work slow which results in loss to the employer. IV. It is not only effects the quantity but also the quality of goods as there is no incentive for efficient workers. b. Piece Rate Under this system the worker is paid according to the work done or the number of pieces of work completed irrespective of the amount of time taken to do so. The rate per unit of output is fixed and the wages are paid on the basis of number of units completed. The formula for calculating under this system is: Total amount earned= units produced ? rate per unit. But this system is applicable only in case of those jobs which can be measured in physical terms and can be standardized. Under this system the income of the workers depends on their efficiency to produce. Advantages a. Productivity increases as the earnings are directly linked with production. b. This system induces to produce more regardless of quality. c. It helps in establishing the cost per unit which helps in the fixation of prices of the goods produced. d. As wages are paid according to the output it ensures a degree of fairness to everyone. Limitations a. No attention is paid to the production of quality goods. b. In order to produce more there is improper handling of machines resulting in breakdown causing loss of employer. There is no security to the workers and if the worker is unable to produce due to certain reasons his earning are affected. d. This system leads to unhealthy competition among the workers which causes jealousy and dissatisfaction among them. 8. 2 Incentives Bonus Methods An incentives method or plan is a system of wage payment which offers inducement to the workers in the form of bonus to maintain high levels of production. A well developed incentive plan should be beneficial to both management and the workers. From the management point of view it should result in reduced unit cost and increase output. There should be optimum utilization of facilities, improvement on cost control leading to less variable production cost. From the workers point of view it should facilitate on their efforts to earn more and improve their efficiency (Sainy amp; Kumar, 1998: 136-137). There are different types of incentive plans. For instance personal incentives which are either time based or production based. Time based incentives plans are also called premium plans. Some of the incentives plans are discussed. a. Personal or Individual Incentives Bonus Schemes Under this system the individual worker is rewarded for his excellent performance or for making optimum use of the machines and equipment (Sainy amp; Kumar, 1998: 137). b. Halsey Plan Under this plan bonus or premium is paid to the worker on the basis of the time saved. A standard time required for a job is determined before hand. If a worker takes standard time or even exceeds the standard time to complete a job he gets normal wages calculated at the time rate. If he completes the job in less than the standard time, he gets a bonus equal to 50 percent of the value of time saved.
Saturday, November 30, 2019
US Opportunities America is the land of opportunity. This country is full of great ways to better our lives. There are many different kinds of opportunities we can use to improve the quality of our living conditions. For example, there are many public school systems here, as well as the many college opportunities we are offered. This country is also a great place to find adventure, or just have a good time playing sports or exercising. Something else that is great about our country is our fantastic government system. Whether it's Federal, State, or Local government; ours is one to be proud of. America offers the most to any kind of person, no matter who you are or what you enjoy. In America there is an unbelievable amount of ways to learn. There is a public school system where anyone can go to school, Kindergarten through twelfth grade. If you want to further your education by going to college, there is a great variety of schools you could go to. If you want to be a doctor there are specific schools designed to teach people how to be doctors. Some colleges are good at different sports, and some are incredible acedemically, some schools are well-known for their drama programs or other things. Most schools offer scholarships to those who excel in specific areas. Scholarships are a good way to get financial aid if you can't or don't want to pay for college. If you're looking for action and adventure, you've come to the right place. America is the greatest place to kick back and have a good time. You could ski the icy slopes of the Rocky Mountains in Utah and Colorado, or you could surf and lay out on the sandy beaches of Hawaii or California. You could go crabbing on the rocky coast of Maine, or go ice fishing on a barren lake in the nippy weather of Alaska. Different places around the country offer a variety of seminars if you're looking for instruction, or you could read up on the subject before braving the great outdoors by yourself. Many people also enjoy sports. In Utah, there are all kinds of sports programs designed for people of all ages. This is a great place to come whether you're looking for sports action or outdoor adventure. Some might worry about the quality of our government. Despite the recent problems our president has had, the government is nothing to worry about. The local government is here to help us in any way needed. The local government helps us out with our school systems, roads, and many other things. The Federal government helps pass laws to make our states and towns better for us. All in all, the government is still going just as strong as they were in the beginning in 1776. Taking all the factors into consideration, I think America is the greatest place on earth to live. No matter what you want to do, where and when you want to do it; you can probably find it here. Whether you want to further your education, find a passion in some sort of outdoor adventure, or discover the mystery behind our government, this country is where you'll want to be. America truly is the land of opportunity.