Economics of Organisations TAKE HOME EXAM (Third Writer) Essay

Economics of Organisations TAKE HOME EXAM (Third Writer) - Essay Example The profits rolled in, and Ford's workers shared in the wealth: an ironic beginning for an auto company that would go on to be a notorious enemy of labor in the 1930s and 1940s." At that time, $5 per day was an extremely high wage to pay manual workers in factories such as the Ford facilities. It was hard enough to even have a job in the first place at the time Ford made this major move, so it was indeed a shock. The economy was really in a shaky situation, as it is today. Having a job at all at that time was considered to be very good luck. People who did have jobs worked very hard-much harder than many manual laborers do today. They did not expect handouts from the government, as many of the unemployed in today's world find themselves doing, whether they are in a situation where they can help it or not. Workers back then were tough, and they certainly weren't freeloaders. Back in ancient Rome, welfare ruined the city and actually led to its failure. The government handed out money to a few greedy companies, those companies went under, and the rest of the city went under with them. This is definitely not a scenario one wants to see happen again. It is also possible that, at that time, Ford had a monopoly on the automobile industry and his altruistic nature guided him to share his excess profits with his employees. The root of the $5-a-day Workday was the success of the moving as... According to the work at History.com (2009 p. 1), "After the success of the moving assembly line, Henry Ford had another transformative idea: in January 1914, he startled the world by announcing that Ford Motor Company would pay $5 a day to its workers. The pay increase would also be accompanied by a shorter workday (from nine to eight hours). While this rate didn't automatically apply to every worker, it more than doubled the average autoworker's wage. While Henry's primary objective was to reduce worker attrition-labor turnover from monotonous assembly line work was high-newspapers from all over the world reported the story as an extraordinary gesture of goodwill." The new wage made thousands of manual laborers flock to Ford's manufacturing facilities. People came all the way from all over the United States to Ford's Detroit plant, and they even came from Europe. Employee turnover, of course, practically vanished. According to History (2009, p. 1), "Henry Ford had reasoned that since it was now possible to build inexpensive cars in volume, more of them could be sold if employees could afford to buy them. The $5 day helped better the lot of all American workers and contributed to the emergence of the American middle class. In the process, Henry Ford had changed manufacturing forever." The following shows an announcement of Ford's plans to raise their wages to $5-a-day: Figure 1: Announcement Source: Ford.com References Henry Ford's $5-a-Day Revolution 2009. Ford. Available at http://www.ford.com/about-ford/heritage/milestones/5dollaraday/677-5-dollar-a-day Ford Sets Record Wages 2009. History. Available at

Globalization and unemployment Research Paper Example | Topics and Well Written Essays - 2000 words

Globalization and unemployment - Research Paper Example This has been as a result of opening up of trade barriers by counties and liberalization of markets. Globalization has also improved flow of information among different countries due to increased technological advancement. Business has been able to make use this opportunity through opening up various branches in the world as it has become easy to operate various businesses in the world through decentralized management (Wagner, 2000). Literature review Historical perspective of globalization Globalization history can be traced from the time people started moving others out of Africa to other parts of the world to work as slaves. Since then people have integrated immensely leading to a world with a generation that lacks cultural identity. Since then people has intermarried with each other leading to erosion of their identity. The level of globalization increased the level of technology since the period between first and second war. Since this time people have been trying to conquer dif ferent parts of the world (Wagner, 2000, p. 40). The world has even gone ahead to establish global organizations that are mandated with governing the globe e.g. international monetary funds, World Bank and United nations. Cultural and social impact of globalization One major impact that globalization is has brought is erosion of culture as a result of flow of information from different parts of the world. Currently, it has become so easy to get access to information from different countries at the current time. Some of the western culture has therefore, been integrated in societies that had previously maintained their cultures. This has made these communities to uphold new culture and do away with their culture (Wagner, 2000, p. 56). Globalization has seen introduction of unethical cultures from other parts of the world. Current technological advancement have seen increased sharing of information e.g. in social networks. As a result it has become so easy for the terrorist to plan an d execute crimes. Other behaviors that have seen tremendous increase include prostitution and drug abuse. The most affected are the young people who try to copy great musicians and celebrities. This has increased crime rate in different cities in America (Wagner, 2000). Globalization has increased the level of interaction of different people in the world therefore making the world a global village. An individual can be able to move from one place to another easily due to technological advancement. This has increased cultural interaction among different people in the world. People have been able to learn from other’s cultures on different aspects that their culture lacks. This has played a greater role in increasing cultural understanding among different people in the world. Globalization has resulted in social stratification and division of roles in the society. Since time when globalization started taking place, the family roles have changed tremendously. Initially women mai n role was to raise children and take care of their husbands. These roles have changed with more women entering the job market. Women has gone ahead to take up high positions in various organizations in the world. On the other hand, husbands have become involved closely with family matters e.g. caring for children unlike in the past where such a role was wholly