Concept Of Price War And Oligopoly Theories Economics Essay

Concept Of Price War And Oligopoly Theories Economics Essay Experts argue that the concept of price war is a fact of life in most industrialised countries, assess the arguments for and against such behaviour. Discuss the impact of this behaviour in any industry using different oligopoly theories. In this essay I will address the subject of price war in industrialised countries. From different angles I will to try to break down and analyse the idea that price war in industrialised countries is a fact of life. The basic and underlying concept of a price war is that two or more firms in an industry lower or change their own prices with the knowledge that in an oligopolistic environment the other firms in that industry will lower theirs too so they match up. This is due to the interdependency in their interaction with all the firms in that industry. Price fixing plays a major role in a price war. My method of assessing whether said statement is true or false is to weigh up the pros and cons. From there I can make an informed decision and will be able to explain it through outlined discussions and ideas, and by visual aids if necessary. By the end of my essay I will be able, also, to discuss, with help of oligopolistic theories, the effect that a price war has on any industry. A price war is the concept that refers to economic activity of high competitive rivalry between a few firms in a particular industry, with complex rounds of price reductions. If one firm reduces their prices or a single price of a good, then the other firms in that industry will do the same to match that price. In an industry, in which a state of oligopoly is apparent (i.e. only a few sellers operate), each firm is quite capable of producing enough of the industry total output, resulting in their ability to affect the market price. A real world example of this is in the coffee industry where there are three major producers; Starbucks, Cafe Nero and Costas Coffee. These three large providers of coffee produce such large percentages each of the coffee industry that if, say, Starbucks were to increase their supply, the price of an average coffee would decrease considerably. An increase in output for one of the coffee providers will result in the price to decrease for the other firms in the industry. To explain further, if Starbucks produces double its output, the price of coffee from Starbucks drops hugely. However, most people are not wholly loyal to a particular brand, so Costas Coffee and Cafe Nero drinkers will switch to the cheaper Starbucks. As a result, the price of Costas Coffee and Cafe Nero coffee drops too. These three major brands are part of a set of economic activities where each of their decisions on supple not only affects their MICRO ESSAY 2 ANTHONY STADDON 000457496 PAGE 3 own sales but also of the firms competing against them. Such strategic situations can involve competition or collusion. Collusion= all firms in an industry agree to cut back on production by a certain amount to increase both prices and profits. Competition= all firms in an industry try to increase production with the intent to undermine competitors and gain as many customers as can be attained. The outcomes of both collusion and competition can be massively different for consumers and producers. For example, collusion benefits producers most due to the fact that as long as they keep colluding, their profits will continue to increase. However, collusion has a negative effect on consumers because it results in higher prices and decreased output. Collusion, unfortunately, is uncommon and many industries are dominated by heavily competing firms. If such collusion actually happened then government intervention may be necessary to protect consumers. All these ideas of collusion and competition between firms in an industry are the major foundations and components of a price war. In the short term, consumers benefit very well from such activities, due to the chance of benefiting from lower prices. Also in the short run a negative impact can hit producers by the result of lower prices leading to reduced profit margins. In the long term, the major firms in any particular industry can gain from a price war with increased profits etc. Price wars do seem to happen in every industry in some shape or form. There is a fair amount of reason why that is. To start with there are competitors whom might wish to concentrate on a particular product and through this product try to gain market share by producing its alternate good at decreased prices. There is also penetration pricing where firms may offer/provide lower prices of new brands of a good or product into an already highly established market. Process optimization is also a cause in that firms may choose to reduce prices rather than output with the plan regulate and sustain the economy of scale. A big cause for price wars is predatory pricing (albeit illegal). This refers to when a firm may set the price extremely low, even too low, on a good, in order to ddestroy other firms completely in that industry. Finally and in some ways most importantly, especially in context with this essay title, is the cause oligopoly. Oligopoly is where all economic actions on prices and outputs for each firm in an industry are interdependent. Reactions to price changes and ultimately price wars can vary. The primary reaction to a price war price change or price reduction is consideration and caution. For example, has the competing firm decided whether it is doing a short term or a long-term price MICRO ESSAY 2 ANTHONY STADDON 000457496 PAGE 4 change? If its short term, a firms reaction should normally be ignoring the change. Otherwise, short-term changes can be interpreted as cataclysmic changes and lead to big price wars. However, for the long-term there is not just a singular reaction. A firm could maintain their price, split their product into a premium version and a basic. Or the most common highly anticipated reaction is reduce the price and keep in line with ones competitors. Now its quite easy to see why a price might be good and benefit certain people. We can see that producers and consumers can benefit from them in some way and at some point. But in the end there is also a negative impact of price wars. As previously stated two or more firms compete in an industry and in turn both reduce their prices. We see that one can benefit whether you are a producer or consumer due to lower prices but this is not always the case. When these firms compete and initiate a price war, it is normally understood that both firms lower value along with price. Ultimately the firms lose profit and the consumer loses value. In my conclusion, I believe that price wars in the short-run can improve profits and can allow consumers a small space of time to take advantage of lowered prices. But in the end they cause more trouble than they are worth. However they also seem unavoidable as nearly every single industry in an economy has an event of a price war at some point. In the supermarket industry, Sainsbury and Tesco compete in a price war. O2 and T-mobile do the same in the mobile industry. Starbucks and Cafe Nero show signs too. The list of price wars in different industries is long but clearly outlines that the statement the concept of a price war is a fact of life in industrialised countries is pretty much correct.

Samsung Electronics

Submitted by: Aneesa Amjad INTRODUCTION6 SAMSUNG VALUE AND CODE OF CONDUCT6 Business Principles7 ?We promote health and safety. 7 ?We are a socially responsible corporate citizen. 7 ?We comply with laws and ethical standards. 7 ?We maintain a clean organizational culture. 7 ?We respect customers, shareholders and employees. 7 ?We care about environment. 7 Samsung Values8 ?People8 ?Excellence8 ?Change8 ?Integrity8 ?Co-prosperity8 Samsung Philosophy9 NEW VISION9 HUMAN RESOURCE DEPARTMENT9 Vision and Mission10 HRD Philosophy10 JOB ANALYSIS11 RECRUITMENT11 Recruitment tools11 Newspapers:11 Online Recruitment (e-cruitment):11Educational Institutes:12 E-mails:12 4/5 Grade Recruitment12 Selection process12 Application Form12 Document Screening13 SSAT13 Interview13 Physical examination14 Join Samsung14 3 Grade Recruitment14 Person with career and doctorate possessors14 ?Samsung Shared Value program (SVP)15 ?Samsung Business Leader Program (SLP)15 ?Samsung Global Expert Program (SGP)15 SAMSUN G RESEARCH CENTER16 MANAGERIAL DEVEOPMENT AND TRAINING16 TRAINING AND DEVELOPING16 HRD PROGRAMS17 ?SVP New employee Orientation17 ?SVP Samsung summer festival17 ?SLP17 ?Samsung MBA Course17 ?SLP Executive development Course18 SLP Senior Executive development Course18 ?SGP18 ?SGP Regional Specialist course18 ?SGP Premier Course19 ?SGP Overseas Country Manger Development Course19 ?SGP Global Leader Course19 ?SGP Language Course19 EDUCATION IN 201020 PERFORMANCE APPRAISAL20 EMPLOYEE BENEFITS21 ?Group insurance21 ?Physical exams21 ?Financial aid for medical costs21 ?Congratulatory/condolence pay21 ?Use of leisure facilities21 EMPLOYEE HEALTH22 Employee Health and Disease Management22 ?Health Research Center22 ?Mental Health22 ?Employee Health Management23 EMPLOYEE WORK-LIFE BENEFITS23 ?Work & Life Balance23 RETIREMENT BENIFITS23 Outplacement Program23 ?Major Reasons of Retirement24 COMPENSATION PLANS24 LABOR POLICIES25 ?Child Labor and Forced Labor25 ?Labor Union Policy and Labor Counci l25 INTERVIEW QUESTIONS26 Exhibits31 Staffing Manager33 Samsung Electronics America- Ridgefield Park, NJ (Greater New York City Area)33 Job Description33 Desired Skills & Experience34 INTRODUCTION From its beginning as a small export business in Taegu, Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semi-conductors, memory, and system integration.Today Samsung’s innovative and top quality products are world recognized. It’s a global company with approximately 190,000 employees and is operating in 61 countries worldwide. SAMSUNG VALUE AND CODE OF CONDUCT Samsung Electronics is fully committed to complying with local laws and regulation as well as applying a strict global code of conduct to all employees. With an aim to become one of the most ethical companies in the world that is respected by its stakeholders, Samsung Electronics continue to train its employees and operate monitori ng systems while practicing fair corporate management.The code of conduct includes elimination of nationality or gender discrimination, transparent disclosure of business information, customer information protection and partner collaboration. All of Samsung Electronics employees will have to follow this code of conduct in their relationship with their colleagues and customers. Business Principles Samsung Electronics announced the Five Samsung Business Principles† in 2005, and it serve as the foundation for its global code of conduct in compliance with legal and ethical standards. (Exhibit 1) These five business principles are as follows: We promote health and safety. * We are a socially responsible corporate citizen. * We comply with laws and ethical standards. * We maintain a clean organizational culture. * We respect customers, shareholders and employees. * We care about environment. Samsung Values Samsung believes that the key to good business is to live by strong values. A t Samsung, code of conduct and these core values are at the heart of every decision they make. (Exhibit 1) * People At Samsung, a company is its people and they are dedicated to giving their people a lot of opportunities to reach their full potential. * ExcellenceEverything they do at Samsung is driven by a passion for excellence and a persistent commitment to develop the best products and services on the market. * Change In today’s world due to globalization, change is constant and innovation is very important for a company’s survival. And Samsung have done that for 70 years, they set their sights on the future, predicting market needs and demands so that they can achieve long term success. * Integrity The foundation of their business is that they operate in an ethical way. Everything they do is guided by a moral compass that ensures fairness and respect for all stakeholders. Co-prosperity A business cannot be successful if it does not create prosperity and opportunit y for others. Samsung is socially and environmentally responsible corporate citizen in every community where they operate around the globe. Samsung Philosophy At Samsung, they follow a simple business philosophy: to devote their talent and technology to creating superior products and services that contribute to a better global society. Everyday their people bring this philosophy to life. Their leaders search for the brightest talent from around the world, and give them the resources they need to be the best at what they do.The result is that all of their products have the power to improve lives. (Exhibit 1) NEW VISION â€Å"Inspire the world, create the future† This new vision shows that Samsung Electronics is committed to inspire the world by leveraging Samsung’s three key strengths: â€Å"New Technology†, â€Å"Innovative Products†, and â€Å"Creative solutions. † and to promote new value for Samsung’s core networks—Industry, Partne rs and Employees. (Exhibit 2) Samsung has planned to become one of the world’s top five brands by 2020. Samsung has also established three strategic approaches in its management, â€Å"Creativity, Partnership, and Talent.HUMAN RESOURCE DEPARTMENT To achieve long term goals, human resource department plays a very important role. Employees are its most important asset. Human resource department plays a crucial role in the company’s success. Samsung Electronics believes that human resources and technology development both have separate functions and both are important to overall quality management. For the success of Samsung electronics it is very important that all employees enjoy doing their jobs and gets along with each other in the company.Vision and Mission Samsung has its own Human Resources Development Center. The aim of Samsung Human Resources Development Center is to become the world’s best HRD center and to develop people with creativity, passion and a c hallenging spirit who will make Samsung the world’s leading company in the 21st century. Samsung HRD Center devotes itself to carry the management philosophy into practice, spread Samsung Values, play a centripetal part to bring the values and actions of Samsung people toward one direction, lead the creative innovation nd change in the global era, and support the global management as the leader of the globalization. HRD Philosophy Since its foundation, Samsung has focused on and respected people with â€Å"A company is its people†. Samsungs management philosophy and traditions have become the key driving force of materializing its continuous growth and making it one of the world’s best companies. Since its introduction to open recruitment system in 1957, Samsung has developed its people in earnest. For about 50 years, Samsung has continued its history and tradition of developing people.After Samsung HRD established HoAm-Kwan in 1982 and Chang Jo Kwan in 1991 to implement â€Å"Samsung with high potentials† as the birthplace of educating Samsung people, they have played an important role of maintaining, succeeding, and developing the culture of Samsung. JOB ANALYSIS When a new position is established, the Human Resources department prepares a job analysis clearly identifying the positions responsibilities and overall relationship to the company. (Exhibit 3) RECRUITMENT Samsung Research Center intends to recruit, hire and place applicants on the basis of the applicant’s relative knowledge, skills and abilities.The decision to employ an applicant will be based solely on the individual’s qualification for the particular position along with other requisite job skills. Recruitment tools Upon getting informed the HRM Department invites a wide pool of applicants through any or all of the following mediums. Newspapers: Vacancies are advertised on leading newspapers. Online Recruitment (e-cruitment): Application forms are availa ble online at Samsung website and interested candidates can fill and submit them online. Educational Institutes:The HRM Department conducts annual job fairs in various educational institutes in which presentations about job prospects and the company is given. E-mails: Interested candidates can email their CVs to HRM Department, which are then collected in a file and consulted whenever job opportunities arise. 4/5 Grade Recruitment This is the recruitment for the production/manufacture class. It proceeds with announcement when there are vacancies. The selection process is given below: Selection process Application Form Document Screening SSATInterview Physical Examination Join Samsung Application Form The employment application is candidate’s first chance to present his qualifications to the organization. As such, it is extremely critical for his/her continued participation in the examination process. Before beginning, one has to review thoroughly what the Job Announcement spe cifies as the requirements to qualify for the position. Candidate must meet these criteria to be considered for the position; ensure that, otherwise candidate will be wasting his/her effort in completing the application.Document Screening They screen the documents provided by applicants on the basis of job requirement. Those who do not fulfill job requirements are screened out during this step. Those who are passed through this step have to take Global Samsung aptitude test. SSAT Samsung aptitude test is designed to determine level of technical and/or analytical abilities associated with the particular position for which candidate had applied. Interview The List of Eligible Candidates is established after SSAT and then it is sent to the Department(s) that is hiring to fill a current vacancy.The Department Head is responsible for setting up selection interviews. Further the management of Samsung takes three types of interviews 1. First interview is taken by the HR manager which they name as â€Å"initial interview. 2. Manager of department, HR Manager and two V. P takes the second interview. 3. Structured sequential interview is taken by HR manager and C. E. O The Department Head will be looking for the candidate with the best qualifications for the particular position. Physical examinationThe candidates who are selected to fill the vacancy will undergo a medical examination, drug screen, background investigation, and a probationary period before attaining permanent employment status. Join Samsung After checking all physical exams, medically fit candidates are called to fill the vacancy. 3 Grade Recruitment This is the recruitment for Management/the Management support department, various Research and Development organizations. It is processed with dear Samsung job advertisement. The same selection process is being followed for 3 grade recruitment as well.Person with career and doctorate possessors When there is a vacancy in each department, the resume of appli cants are reviewed by the HR department and they make contact with the applicant on the individual basis. Application Form Individually contact with applicants Interview Physical Examination Join Samsung HRD STRATEGY To create innovation and challenge, Samsung HRD center develops human resources by the following three programs: SVP, SLP and SGP * Samsung Shared Value program (SVP) To achieve â€Å"Samsung toward one direction† by sharing Samsung values (Future Management) cultivate next generation leaders Samsung Business Leader Program (SLP) To become â€Å"world leading company† by developing leaders of the next generation (Trust Management) Share core values of Samsung * Samsung Global Expert Program (SGP) To achieve â€Å"Global Samsung† by developing global competencies (Globalized Management) Develop Global Competency SAMSUNG RESEARCH CENTER Samsung Research center is an innovative organization offering unlimited opportunity to those who struggle to develo p and grow to their fullest potential. They work together to bond individual achievement with company goals.The rewards for superior performance come personally as well as professionally. To create an environment where everybody feels a close relationship with the company, understands its policies and operation is one of the priorities of Samsung research center. MANAGERIAL DEVEOPMENT AND TRAINING Samsung electronics have in- house development center (human resource development center) and universities. They combine classroom learning (lectures and seminars) with other techniques such as assessment centers. TRAINING AND DEVELOPINGSamsung Electronics assesses individual work capabilities according to job function and offers a wide range of training opportunities to nurture all employees into experts in their respective fields. To provide all employees, including those based overseas, with access to comparable levels of training programs regardless of location, they have set up a glob al education portal and mobile education system led by the HR Development Center, and diverse programs are offered through training departments according to business division and work function.There are a lot of programs which Samsungs’ HR department follows to train and develop their employees and they are as follows: HRD PROGRAMS * SVP New employee Orientation This course is to develop Samsung people for the 21st century to have the basic quality for Samsung people and proper business creed. The 4 week course helps new recruits understand the history, tradition, key values, and management philosophy of Samsung, in addition to building teamwork, creativity, and a challenging spirit through various experimental learning. * SVP Samsung summer festivalThis festival is to enhance group identity and pride as Samsung people, CEOs of affiliates, new executives, global leaders in overseas offices and branches, representatives from various classes as well as new recruits participate in this course, which is held every June, and this course acts as a cultural and value group activity for all. * SLP It develops high potentials who will lead the future of Samsung and fosters them as the leaders of the next generation. * Samsung MBA Course This course is to expand the pool of potential leaders of the next generation of Samsung.Every year since 1995, Samsung has selected qualified Samsung people and allowed them to study in famous overseas or local business schools for two years to learn practical management knowledge and global management. * SLP Executive development Course This course is to develop the leaders of the next generation who have global competitiveness and all around management competency. Qualified general managers learn global business management competency, leadership development, and problem solving in the field via action learning through this five month course. SLP Senior Executive development Course This course is to encourage the management lea ders of the next generation who have strategic thinking abilities and management insight. Elite senior executives learn business modules to boost their global competitiveness and advance leadership development focusing on value, and perform various activities through action learning in this four month course. * SGP It is Samsungs global competency enhancement program that develops global business competency and foreign language skills. * SGP Regional Specialist courseThis course is to develop global experts with global sense as the spearheads of globalization in the 21st century. Since 1990, every year, qualified Samsung people have been dispatched to the world including North America, Europe, china, Japan, East Asia, West Asia, and Central and South America for 1 year to acquaint themselves with local business customs and cultures through various experiences for localization of Samsung people. * SGP Premier Course This course is to encourage global leaders who have excellent foreig n language ability and global business competency.For foreign language ability, Samsung people focus on learning how to communicate effectively and speak in foreign languages at the advanced level. For business competency, they focus on developing their global business skills through the best practices of management and learning how to accept different cultures. * SGP Overseas Country Manger Development Course This course is to develop global leaders and executives for overseas offices. Samsung people who will be and are already dispatched to overseas offices learn the practical management and management research for their overseas offices, leadership development and global mind. SGP Global Leader Course This course is to provide overseas executives and managers with a deeper understanding of Samsung values to enhance awareness of a shared value community. The course’s highlight is to participate in the Samsung Summer Festival at the end of the course. * SGP Language Course S amsung people who will be dispatched to overseas offices or they have to handle foreign related works learn ten weeks of English, Japanese, Chinese or Spanish to enhance the foreign language ability. EDUCATION IN 2010 Samsung Electronics continues to enhance employee competencies by utilizing online and offline education programs.Education enhances the effectiveness of employees by offering more online and mobile course. PERFORMANCE APPRAISAL Samsung Electronics evaluates performance of all its employees against a consistent goal. Required capabilities by position are identified, based on which capability performance is conducted. The jobs are evaluated on yearly basis under 360o method; the competent employees are rewarded in shape of promotions, bonus, increments and annual holidays and promotion. The results of an appraisal can be used to identify areas for further development of the employee.The organization also uses different questionnaires, which consist of numerous questions about the behavior of the employee, and then on the basis of these answers personality of the employee is judged. When evaluation is made the unsatisfactory performers are given warning. The employee after warning is put under observation, for some period of time and if the employees’ performance is still unsatisfied then are demoted or fired. Samsung SDI has institutional means up and running to guide fair and understandable evaluation and for the evaluated to defend themselves.If the evaluated submits an application to file a protest within five days after disclosure of evaluation results, HR committee is convened with the evaluator and the evaluated present and adjusts the results, if necessary. INCENTIVE PLANS Individual performance determines individual capability reward and group performance determines Productivity Incentive (PI) and Profit Sharing (PS). EMPLOYEE BENEFITS They offer benefits to their employees required by law as well as internal benefit programs to enh ance quality of life for employees.Both regular employees and those working on contract basis can take advantage of numerous benefits which include: (Exhibit) * Group insurance * Physical exams * Financial aid for medical costs * Congratulatory/condolence pay * Use of leisure facilities In 2010, they increased the physical exam components to promote the health of employees. Other benefits offered to employees are as follows: EMPLOYEE HEALTH Samsung Electronics makes every effort to create a safe and pleasant work environment. All of their production plants have obtained OHSAS18001 certification for occupational health and safety management system.Senior executives of the company have special interest in recent concerns on workers’ cancer risk. From July 2010, they have commissioned a leading international environment and health consultancy to conduct an epidemiologic survey to ensure objectivity and transparency in the survey findings. This objective investigation is expected to cover every possible cause and clear up suspicions completely. Employee Health and Disease Management * Health Research Center They have opened the health research center in April 2010.The Samsung Electronics Health Research Center was established under the Semiconductor Business to carry out mid- and long-term research projects related to employees’ health and wellbeing. The center is manned by researchers in health sciences, medicine, chemical engineering, pharmacology and nursing. It is conducting research into matters such as hazardous chemical substances, work environment and epidemiology, and new substance manufacturing processes. * Mental Health They have expanded psychological evaluations in the regular physical exam from 2011 to help employee’s better cope with emotional strain and stress.The evaluations will check whether employees suffer from any conditions caused by stress related to problems with work or their personal lives. If necessary, employees wi ll be able to receive professional counseling based on online and offline diagnoses. These measures help employees lead healthy and productive lives. * Employee Health Management As part of efforts to promote employees' health and maintain a pleasant work environment, they offer customized health management programs including programs for weight loss, smoking cessation and emotional health.They also operate a center for the prevention of musculoskeletal diseases which allows employees to check their spinal health. (Exhibit ) EMPLOYEE WORK-LIFE BENEFITS * Work ; Life Balance Work hours are continuously monitored at Samsung Electronics to promote work-life balance. In particular, they have introduced a flexible time program for administrative staff so they can set their own work hours to enhance quality of work life. Work hours at the global production subsidiaries are adequately managed according to local employment standards nd the Electronic Industry Citizenship Coalition (EICC) gu idelines. RETIREMENT BENIFITS * Outplacement Program Up through 2010, they have provided assistance for 2,216 retiring employees find new jobs or start a business through the career development centers. In 2010, they signed an agreement with the Korea Federation of Small and Medium Business to help seasoned specialists find new jobs at small and mid-size enterprises. In 2011, they offered career planning courses for incumbent employees. (Exhibit) * Major Reasons of RetirementKorea Overseas 1. Study 1. Change of Occupation 2. Change of Occupation 2. Family Reason 3. Health Problem 3. Study 4. Domestic Affairs 4. Health problem 5. Contract Expiration 5. Dissatisfied with Type of Work COMPENSATION PLANSIn 2010, Samsung Electronics made upward adjustments in the salaries of all employees and applied a system of accumulated annual salary for individual workers to differentiate compensation according to performance. Samsung’s compensation scheme is based on ‘compensation wi thout discrimination and compensation for performance’ to ensure internal impartiality and external competitiveness. Those on the same position are given same amount of base salary disregarding gender, nationality, religion, social status, and age. On top of it, differentiated compensation is made according to individual performance.LABOR POLICIES * Child Labor and Forced Labor Discrimination, forced labor and child labor are prohibited in accordance with articles 4, 6 and 16 of the company’s rules of employment. In addition, they strictly abide by the 24 ILO conventions ratified by the Korean government. In 2010, there were no violations of laws and regulations related to child labor and forced labor. * Labor Union Policy and Labor Council Samsung’s basic HR policy is summarized in the following statement: â€Å"The workers and the company will cooperate for mutual advancement based on the principles of co-existence, co-prosperity and harmony. Samsung Electron ics strives to provide superior working conditions relative to its peers so that employees do not feel the need for a labor union. All of their business sites across the globe have a labor council to facilitate dialogue between labor and management. Other major communication channels include the GWP committee and safety council. Each of their business sites in Korea has a worker council. Each worker council holds at least one regular meeting per quarter. The council also gathers when the need arises to discuss matters such as salary adjustments.It enables grievances and requests to be swiftly conveyed to management so that the necessary corrective measures can be pursued. Due consideration was given to employees’ requests to improve the work environment. In 2010, the worker council addressed several issues through expanding the flexible time program, establishing infrastructure for stress relief, and improving office environment. INTERVIEW QUESTIONS ———â €”————————————- What are Samsung values and code of conduct? ————————————————- _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What tools do you use to recruit job candidates?Like do you use advertising, employment agencies, college recruiting or some other method? _________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Do you prefer outside candidates or inside candidates? _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What types of test do you use to measur e a wide range of candidate attributes? _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Do you check applicant’s background before selecting him? ————————————————- __________________________________________________________________________________________________________________________________________ _______________________________________________________________________________________________ What is the selection process of Samsung? ____________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________ What type of interviews is done at Samsung? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What is the HRD strategy of Samsung? _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___ ————————————————- What is the function of Samsung Research Center? ————————————————- ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What are HRD programs implemented for training and developing employees? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________ What education programs are being offered at Samsung? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What types of benefits are being offered to employees at Samsung? _____________________________________________________________________________

After researching the incidents of inequality, please answer the following questions for each scenario Essay

Scenario #1: __Marriage Inequality Same-Sex Relationships___ discrimination. 1) Summarize the incident. As more states are recognizing marriage for same sex couples, there is still conflict surround the same-sex unions about marriage equality and religious liberty. Marriage is a of sexual orientation identity enactment, and religious objections arise largely in response to such relationships. This article is on sexual orientation equality, it argues for antidiscrimination regime that will protect same-sex relationships. In this article it also states that same-sex relationships are an expression of identity and religious objections are relating to that identity. There is discrimination against same-sex relationships. Religious organizations as well as employers, property owners, small business and others to discriminate against same-sex couples in situations that are removed from marriage itself that would threaten this antidiscrimination law. They are using a term â€Å"marriage conscience protection† to label instances of discrimination against same sex relationships (Nejaime, (2012). 2) How might this situation affect the victim? Being a victim of any type of discrimination can be emotionally and psychologically painful. It can cause distress, depression, feelings of anxiety which can linger on with them for years. It can affect the psychological and emotional well-being of member of the LBGT community. Those same psychological outcomes can create individuals who are more accepting to their sexuality. 3) How might it affect the offending person or institution? First off it is a human rights violation. There are array of new laws that have been adopted which includes laws banning discrimination against LGBT, penalizing homophobic hate crimes, granting recognition of same-sex relationship (ACLU, (n.d.)). Establishments that chose to discriminate are in violation of some laws. LBGT community can get people to rally with th em and protest against an institution. That will cause for news coverage and possible shut down of business or cause for lawsuit against an institution. 4) How do situations like this affect society as a whole? Situations when dealing with LGBT there can be rejection. Discrimination impacts society as a whole because it is reinforcing prejudice. Many people just fear what may be strange or unknown to them, and their reactions vary with suspicion, violence towards those whoms appearance, behavior or culture is different. Scenario # 2: _Racial harrashment in the military__ discrimination. 1) Summarize the incident. This reading is in regards to the racial discrimination or a bias against black drivers that the CPD uses that as a decision to stop a vehicle. Where the term used by minorities is DWB (driving while black came from. In Cincinnati there is a study that showed that DST (daylight savings time) black drivers were less likely to be stopped. When the shift from daylight to darkness came the racial discrimination of black drivers being stopped. Black drivers were also were less likely to receive a citation than nonblack drivers. Blacks also had longer stops and higher search rates than white drivers.(Ridgeway, 2009) 2) How might this situation affect the victim? I think that for black males even with valid drivers license and no drug paraphernalia this could be a tramatizing event. Making one not to want to driver in Cincinnati after dark because of the fact that they would most likely to be stopped because of the color of their skin. Even the fact that blacks are more sterotyped to be criminals so that is profiling itself that they are up to no good. It has caused troubled community relations. Are not willing to trust the police. 3) How might it affect the offending person or institution? The Cincinnati police department went the scrutiny. To where the department went through training and discipline of officers and still working on troubled community relations. The U.S department of Justice Civil Rights Division of Investigation came in to work with the Cincinnati Police Department to improve the area of law enforcement. The CPD also had internal investigations being carried out. The are making efforts to investigate and eradicate failed because of unclear findings.(Cincinnati Public Library, (n.d.)). 4) How do situations like this affect society as a whole? This affects the community in a whole because with that racial profiling and injustice that went on there where the distrust went so far the opfficers and blacks were being shot at. Racial profiling affects civil rights, and has affect on all people of color. It victimizes the people that they are supposed to be protecting. There is a large mistrust of the police in these communities where there are more likely to be crimes people are not speaking up. References Nejaime, D. (2012). Marriage Inequality: same-Sex Relationships, Religious Exemptions, and The Production of Sexual Orientation Discrimination. California Law Reviews, 100(5), 1169- 1238. Retrieved June 17, 2013 from http://ehis.ebscohost.com.library.gcu.edu:2048/eds/pdfviewer/pdfviewer?sid=50417c39- 0e4d-4cb3-8e06-7ad6068f08a5%40sessionmgr114&vid=4&hid=115 ACLU, (n.d.). â€Å"LBGT Rights† Retrieved June 17, 2013 from http://www.aclu.org/lgbt-rights Ridgeway, Greg. (2009). Cincinnati Police Department Traffic Stops: Applying RAND’s Framework to Analyze Racial Disparities. Santa Monica, CA. RAND Corporation. Pg 3-25. Retrieved June 19, 2013 from http://site.ebrary.com.library.gcu.edu:2048/lib/grandcanyon/docDetail.action?docID=10375778 Cincinnati Public Library (n.d.) Retrieved June 19, 2013 from http://www.cincinnatilibrary.org/features/police.asp

The Economics Behind Cost and Benefit Analysis Free Essay Example, 1500 words

Nonetheless, as shown in the above graph, any kind of government intervention in the market would surely reduce the level of consumer and producers surplus in the industry. For example, if the government increases the incidence of taxation on sellers (as shown in the above graph), then it would surely reduce the overall supply of the concerned product. Lower supply in the market would increase the price of the actual product (as the sellers will transfer a part of the burden on consumers) and finally, will reduce the consumer surplus in the market (Grover and Malhotra, 2003). However, the scopes of commercial activities between firms in the modern days have turned out to be highly complex in nature. Competitive forces in the industry are often offset by the monopolistic authorities that exist due to the survival of concentrated market powers in a firm. Such condition generates information asymmetry in the market. This gives rise to positive or negative externalities. Positive exter nalities are good, but the existence of negative externalities is bad for the economy. During negative externalities, the social marginal cost of a firm is always more than the private marginal cost. Similarly, the huge fund required to be invested in the HS2 project would augment the burden of taxation on the taxpayers of Britain, thereby reducing the overall consumer and producer surplus in this industry. Under such conditions, the government must intervene in the market to reduce the external cost. The main reasons for which the government intervenes in the market are: For rectifying market failures. Redistributing income and wealth for achieving equitability. Enhancing the overall performance. The HS1 project seems to lack adequate advantages; hence, the overall social cost of the project is estimated to be more than its economic cost. We will write a custom essay sample on The Economics Behind Cost and Benefit Analysis or any topic specifically for you Only $17.96 $11.86/page