Knowledge based World

What is the relationship among money, campaign, costs, profitability, and experienceledge in the new democratic-capitalistic society?Basically, money, costs and profitability atomic number 18 intertwined because these are numerical building block values in order to run a caper. Money sight be in the form of profit margins or investments. Costs are the actual assets needed to proceed with a decided worry dodging while profitability is the realized difference of capital and accumulated sales. On the other hand, get the picture and knowledge are primary factors to realize the wrinkle strategy by the company. Labor resources provide the actual concept of productivity while knowledge is a tool to outline the business techniques. two elbow grease and knowledge predict the actual money values the business squeeze out use or receive.2. Why should managers be concerned rough developing a reward system?The reward system butt end promote a greater sense of productivity because it can forthwith affect the motivation principles of each employee (Answers, 2008). The personnel of a company give eventually behave the attitude of designating quality work philosophy if they know that benefits are available for them if they exit be able to satisfy the business quality goal.3. What is the connection between assiduity costs in the coupled States and outsourcing?Labors costs are the amount of investments the company can disseminate on a regular basis in order to maintain a pool of workers in the feat segment of the business. Labor costs in foreign lands are cheaper compared to the natural labor market of the US. Therefore, the rate of outsourcing work outside of the country is in return proportional to labor costs in foreign markets (lower foreign labor cost-higher outsourcing rate). In a nonher perspective, outsourcing rates are flat proportional to labor costs in the US (higher domestic labor cost-higher outsourcing rate).4. What changes are occurring in the workforce relative to the bods of work employees are performing?Depending on the kind of business, changes in the business workforce activities are mainly predicted by the performance of the company. If the company is losing its market grip, it has to cut down the number of employees and train the remain laborers to become multi-task workers, therefore increasing their work loads. Moreover, if the company intends to produce a new product line-up for expansion, then some employees may be tasked to do a new set of work loads to produce the new offerings.5. How would labor relations executive be influenced by the change from a manufacturing to a service economy?The main aspect of change can only be realized in the way the executive/s will train the attitudes of the laborers. Basically, the service sector is more demanding because it tends to interact directly with the needs of the clients. Of course, the manufacturing sector has its own standards of quality but engaging in a service economy can be more dispute since customer feedback and person-to-person business approaches are delegated.6. In what way does cognomen VII of the civil rights act 1964 affect the compensation system of an governance? Does this act really work?The Civil Rights Law of 1964 provides the structure for companies to pee-pee their compensation systems (US EEOC, 1997). Because of this law, businesses provide the necessary equal opportunities allotment in scathe of submitting fair and justified wage rates. Sometimes, there are instances when this act does not work especially when the company incurs losses in long stipulation operations. There were cases when business owners were sued due to benefits reduction and discrimination of employees in legal injury of age and racial affiliation7. Describe an orderly and systematic mathematical function for developing a trouble analysis program.For job analysis, an effective purpose is to start the study from the bottom segment of t he company operation up to the last ruling individual. First, there is a need to survey the labor force whether they are satisfied with their job shape. Second, the company operations should be calibrated regularly to see whether the company projections are met. Lastly, the administration should have a thorough consultation with the business owners in relaying the overall status of the work force. This systematic procedure can cover all the potential dilemmas by using efficient utilization of information among the workers and the management.8. Some experts in the field have expressed the opinion that job descriptions are inessential and a waste of time. Describe your opinion of the value of job descriptions and position reasons to support your opinion.A job description is important because it quick specifies the qualities that a company is looking for a potential laborer according to a list of specified tasks (McNamara, 1997). These criterions enable the business to save time s ooner of filtering out candidates from a large pool of generic talents. For example, a job description in terms of educational attainment and experience will let the hiring company save training resources since the candidate can readily accommodate specific tasks say for example machine operation, business metrics and computational analysis of data.9. Are job evaluations a type of internal equity?On a personal perspective, job evaluations truly polish the internal stability of a company. Because of this principle, laborers will have the chance to show their worth in the organizational function while at the similar time the management will be able to identify who of its labor elements is productive enough for the companys mission statement.ReferencesAnswers. 2008. Employee Reward and intelligence Systems. Answers Corporation. Retrieved February 6, 2008 from http//www.answers.com/topic/employee-reward-and-recognition-systems?cat=biz-fin.McNamara, C. 1997. Employee Job Description s. Free Management Library. Retrieved February 6, 2008 from http//www.managementhelp.org/staffing/specify/job_desc/job_desc.htm.U.S. EEOC. 1997. championship VII of the Civil Rights Act of 1964. US Equal Employment opportunity Commission. Retrieved February 6, 2008 from http//www.eeoc.gov/policy/vii.html.