Knowledge based World

What is the relationship among money, labor, be, advantageousness, and association in the modern democratic-capitalistic society?Basically, money, cost and profitability are intertwined because these are numerical unit values in recount to run a product line. Money can be in the reverbe vagabond of profit margins or investments. Costs are the telephone numberual as reposes needed to travel with a decided business strategy while profitability is the effected difference of capital and accumulated sales. On the other hand, labor and knowledge are primary factors to realize the business strategy by the attach to. boil resources provide the actual concept of productivity while knowledge is a tool to outline the business techniques. Both labor and knowledge holler the actual money values the business can use or receive.2. Why should managers be concerned about developing a repay system?The reward system can promote a greater sense of productivity because it can directly affect the motivation principles of all(prenominal) employee (Answers, 2008). The personnel of a community departing eventually have the carriage of designating quality rub d have got philosophy if they know that benefits are available for them if they will be able to satisfy the business quality goal.3. What is the connection mingled with labor costs in the United States and outsourcing?Labors costs are the kernel of investments the company can disseminate regularly in order to apply a pool of prevailers in the production segment of the business. Labor costs in foreign lands are cheaper compared to the domestic labor market of the US. Therefore, the rate of outsourcing work outside of the country is inversely proportional to labor costs in foreign markets (lower foreign labor cost-higher outsourcing rate). In another perspective, outsourcing evaluate are directly proportional to labor costs in the US (higher domestic labor cost-higher outsourcing rate).4. What changes are occu rring in the manpower relative to the kinds 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 castrate down the number of employees and train the remaining laborers to become multi-task workers, on that pointfore increase their work loads. Moreover, if the company intends to produce a new product line-up for expansion, whence 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 go parsimony?The main aspect of change can only be cognise 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 qual ity but engaging in a service providence can be more challenging since customer feedback and person-to-person business approaches are delegated.6. In what way does Title VII of the civil rights act 1964 affect the compensation system of an organization? Does this act really work?The Civil Rights Law of 1964 provides the structure for companies to create their compensation systems (US EEOC, 1997). Because of this law, businesses provide the requirement equal opportunities allotment in foothold of submitting fair and justified charter rates. Sometimes, there are instances when this act does not work especially when the company incurs losses in long term operations. There were cases when business owners were sued collectible to benefits reduction and discrimination of employees in terms of age and racial tie beam7. hunt an orderly and systematic surgery for developing a chisel analysis program.For bank line analysis, an effective procedure is to start the study from the tush segment of the company operation up to the last ruling individual. First, there is a need to survey the labor force whether they are slaked with their job status. Second, the company operations should be calibrated regularly to bump into whether the company projections are met. Lastly, the administration should have a thorough mention with the business owners in relaying the overall status of the work force. This systematic procedure can cover all the possible dilemmas by using efficacious utilization of information among the workers and the management.8. Some experts in the field have verbalized the opinion that job descriptions are unnecessary and a waste of time. Describe your opinion of the value of job descriptions and present reasons to support your opinion.A job description is important because it readily specifies the qualities that a company is looking for a potential laborer according to a list of specified tasks (McNamara, 1997). These criterions alter the business to keep up time instead of filtering out candidates from a sizable 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 record for example machine operation, business metrics and computational analysis of data.9. be job evaluations a type of internal equity?On a personal perspective, job evaluations truly reflect the internal stability of a company. Because of this principle, laborers will have the chance to prove their worth in the organizational function while at the same 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 Recognition Systems. Answers Corporation. Retrieved February 6, 2008 from http//www.answers.com/topic/employee-reward-and-recognition-systems?cat=biz-fin.McNamara, C. 1997. Empl oyee business organisation Descriptions. Free Management Library. Retrieved February 6, 2008 from http//www.managementhelp.org/staffing/specify/job_desc/job_desc.htm.U.S. EEOC. 1997. Title VII of the Civil Rights playact of 1964. US Equal Employment Opportunity Commission. Retrieved February 6, 2008 from http//www.eeoc.gov/policy/vii.html.