Managerial Skills Essay

In order for managers to be effective, they must have a clear understanding of whether different skills are important in their managerial role. In addition, managers must have a mutual understanding of the skills and responsibilities necessary for other managers across similar and different organizational levels and functions ([10] Kraut et al. , 1989). If these skills and responsibilities are not clearly understood, managers will neither be able to coordinate work effectively, communicate expectations, deliver feedback, nor be prepared for job transitions or other training and career development activities ([10] Kraut et al. , 1989). In short, understanding whether certain managerial skills are important to a manager’s job is essential. A number of researchers have investigated the roles, tasks, or activities of managers (e.g. [18] Mintzberg, 1973; [13] Luthans, 1988; [10] Kraut et al. , 1989). However, these studies are over a decade old, some more than two or three decades, and have not specifically examined skills. The world of work has changed since these studies, most notably due to organizational downsizing, technology, and the globalization of the workplace. Skills important to managers in the late 1980s and early 1990s may not be as important today. As times change, researchers should update important findings to determine if those findings are still applicable ([4] Cronbach, 1975), especially when considering that the skills and roles of managers need to be clearly defined and understood to effectively teach, select, develop, and promote these individuals in the workplace. Based on results of a study of more than 14,000 managers over two distinct time periods, this paper will highlight whether the importance of certain managerial skills changed over a 15-year time period, and determine which skills are needed at different organizational levels and across organizational functions from the opinions of managers themselves. Our main research question is, to what extent has the importance of certain managerial skills changed, or remained constant, over time, and whether certain skills are important based on organizational level and function. Studies of managers [18] Mintzberg (1973) provided one of the most influential works on managerial roles. Prior to his research, the roles of managers were understood to be embedded in a rigid functional approach of planning jobs, organizing staff, and leading personnel ([20] Pearson and Chatterjee, 2003). However, Mintzberg observed that managers worked at a much faster pace during which they were required to address a range of issues. The job of the manager required an ability to handle more complex roles than those described by classical management theory. Using a descriptive diary method to observe managers at work, Mintzberg identified ten roles of managerial work, which were divided into three categories: interpersonal roles, informational roles, and decisional roles. Expanding on [18] Mintzberg’s (1973) work, [10] Kraut et al. (1989) investigated the differences between managerial levels in the perception of role importance. They identified seven major factors of management tasks including: managing individual performance; instructing subordinates; planning and allocating resources; coordinating interdependent groups; managing group performance; monitoring the business environment; and representing one’s staff. Their findings also revealed distinct differences in role importance based on the level of the manager. For instance, first-level managers reported that managing individual performance and instructing subordinates were the most important set of activities in their job. However, as managers moved up the management hierarchy to the level of middle manager, the importance of these activities dropped and more focus was placed on tasks related to linking groups. The act of linking groups included planning and resource allocation, managing group performance, and coordinating interdependent groups. Executive managers took an even broader view of their job as evidenced by their high importance ratings related to monitoring the environment including business, economic, and social trends. The only commonality among the different managerial levels was the importance they placed on representing their staff; over 50 per cent of managers at each level rated representing staff of â€Å"utmost† or â€Å"considerable importance.† [13] Luthans’ (1988) research also examined differences between top and middle managers. However the focus was more on the distinction between the activities of an effective manager versus a successful manager. Effective managers were identified by a high level of performance in the unit they are responsible for, whereas successful managers were recognized by their rapid promotions within an organization. The activities that characterize effective managers included spending time on communication and human resource management, which can lead to long-term results. In contrast, successful managers spent more time on networking and aimed for short-term results. In addition to differences between levels, [10] Kraut et al. (1989) also compared managerial activities across the different organizational functions of marketing, manufacturing, and administration. For example, a greater percentage of marketing managers rated monitoring the outside environment more important when compared to other managers. Alternately, fewer marketing managers rated instructing subordinates as important when compared to managers in manufacturing and administration. Managers from all three organizational functions indicated that activities involving coordinating interdependent groups were important. The present study will attempt to expand on similar research such as those previously mentioned. First, this research examines managerial skills, which are much different than managerial roles, activities, or tasks. While past research has determined what roles or activities are important for managers and what tasks managers tend to spend much of their time on, this research attempts to determine what skills are important for managerial jobs. Second, this research will use opinions from practicing managers totaling more than 14,000 from two distinct time periods (1988-1992, and 2004-2006) to capture what skills have been important in the past, and determine whether those skills have changed in importance over time. In addition, this research will examine whether managerial skills are important across different organizational levels and organizational functions in the context of today’s work environment. The changing world of work The aforementioned research regarding the importance of managerial tasks, roles, and activities was conducted in the 1970s and 1980s. There is reason to believe that skills once deemed important for managers may have adjusted in relative importance since much has changed in the world of work since these studies. One can assume that the changes in the world of work may coincide with possible changes in the importance of different managerial skills. Organizations have become flatter and less hierarchical with fewer levels and more responsibilities ([2] Allen et al. , 2001; [16] McKinley et al. , 2000; [17] Miller, 1990). Also, organizational downsizing is commonplace due to the increasing need to reduce costs, to eliminate unnecessary levels of management, and to streamline operations ([5] DeMeuse et al. , 2004). As organizations become less hierarchical, there is reason to believe that the skills managers thought were important in the past may have changed in scope. Organizations also exist in a different environmental context than 15 years ago. Due to improved technology such as e-mail and the internet, changes have occurred in the way managers and co-workers interact. We have seen the emergence of the Internet as a major form of communication and e-commerce as a new source of business. Flexible work patterns and the ability to work in geographically dispersed teams is now a common reality in the workplace ([27] Wallace, 2004). These changes have cultivated the need for better communication, coordination, improved performance, team monitoring, and more interdependence and trust ([22], [21] Salas et al. , 2004, 2005; [28] Zaccaro et al. , 2004). Teams and organizations are increasingly becoming more global or virtual in nature. As a result, an awareness of different cultures and attention to multiculturalism and globalization is vital for the success of many managers. As organizations become more fast-paced and global, there is also speculation that the importance of different skills managers need may have shifted in scope. [7] Kanter (1989) argued that these rapid changes, spurred by technology and competitive pressures, have made traditional forms of organizing work obsolete. Managers may believe certain skills are important in order to be a partner with and empower employees to address business problems on their own and to work in cross-functional teams, which could be different than the skills believed to be important 15 years ago. Managers must fully understand their roles and responsibilities and become adept at a variety of skills to perform their job effectively ([1] Ahearn et al. , 2004; [6] Halbesleben et al. , 2003; [25] Stockdale and Crosby, 2004; [27] Wallace, 2004; [28] Zaccaro et al. , 2004). As previously mentioned, understanding the skills of managers is essential to coordinate work effectively, communicate expectations, deliver feedback, and for training and career development ([10] Kraut et al. , 1989). It is unknown whether the changes over the past 15 years that have occurred in an organizational and global context have also coincided with possible changes in importance of managerial skills over time. A recent case study reexamined [18] Mintzberg’s (1973) work 30 years after the original research by studying the pattern of behavior among four executives in Sweden ([26] Tengblad, 2006). The findings revealed that modern executives are more oriented towards working with subordinates in group-settings and focus more time on giving information rather than performing administrative duties. However, Tengblad noted significant similarities with Mintzberg’s original study, indicating that claims of the emergence of radically different managerial work may be exaggerated. However, due to the small sample size and lack of empirical data in that study, it is important that further work specifically examine the modern skills of managers with a wide range of managers and ample sample size. In other words, are the skills thought to be important to managers 15 years ago still important to managers in today’s work context? The present research will attempt to answer this question and provide relevant present-day information for managers and those who work with, train and develop them, by re-examining the importance of managerial skills across two distinct time periods and across both organizational level and function in the context of today’s work environment. Method Participants This research used data from two waves of managers engaged in a leadership development program from a leadership development provider in order to compare differences in managerial skills over time. The first wave consisted of 7,389 managers from the USA involved in a leadership development process between 1988 and 1992. The second wave consisted of 7,410 managers from the USA who were involved in a leadership development process between 2004 and 2006. Because of data housing and management issues, demographic data could not be given for the first wave of participants. However, aggregate biographical data from the leadership development provider from the time period of 1988 to 1992 revealed that leadership development participants in general were similar in terms of age, gender, race, education, and job status to those of 2004 to 2006. Demographic data in aggregate could be given for the 7,410 participants of the second wave. The average age of the managers in the second wave was 41.73 years old, 59 per cent were male, 86 per cent were white, 69 per cent worked in the private sector and 77 per cent had a minimum of a bachelor’s degree. Managers came from over 60 organizational types (e.g. aerospace and defense, finance, communications, government, education) and over 1,300 companies. In addition, 999 managers (13.5 per cent) were first-level managers (forepersons, crew chiefs, section supervisors), 3,136 (42.3 per cent) were middle-level managers (office managers, professional staff, mid-level administrators), 2,197 (29.6 per cent) were upper-middle managers (department executives, plant managers, senior professional staff), and 1,078 (14.6 per cent) were top or executive level managers (chief executives or operating officers, presidents, vice presidents, directors). Measure Managerial skills . Data determining the importance of managerial skills was collected from SKILLSCOPE ®[1] a 360-degree instrument that assesses job related strengths and weaknesses. The instrument has 98 items that are organized into 15 skill clusters. These clusters represent 15 skills and roles managers need in order to be effective in their job which are part of Mintzberg’s three categories (interpersonal, informational, and decisional) and two other categories (personal resources and effective use of self). The conceptual basis for SKILLSCOPE ® is research which focused on managerial skills, roles and tasks (e.g. [3] Beggs and Doolittle, 1988; [8] Kaplan, 1987; [9] Kotter, 1982; [14] McCall and Kaplan, 1984; [15] McCall et al. , 1979; [18], [19] Mintzberg, 1973, 1990; [23] Sayles, 1979; [24] Stewart, 1976). As part of their leadership development process, managers chose which five of the 15 skill clusters were the most important for their current job. Table I [Figure omitted. See Article Image.] describes each skill cluster. Results A frequency count of the data revealed the skills that are most important for managers in their current job. Result show that both â€Å"Communicating information, ideas† (60.1 per cent of the managers in 1988-1992 and 63 per cent of the managers in 2004-2006) and â€Å"Taking actions, making decisions, following through† (59.7 per cent of the managers in 1988-1992 and 62.9 per cent of the managers in 2004-2006) were the most important skills across all managers. On the other hand, â€Å"Self-management, self-insight, self-development† and â€Å"Openness to influence; flexibility† were the least important for managers in 1988 through 1992 (8.6 per cent and 8.8 per cent respectively as one of the most important skills needed) and managers in 2004 through 2006 (10.9 per cent and 7.2 per cent selected respectively as one of the most important skills needed). Table II [Figure omitted. See Article Image.] shows a comparison between managers from 1988-1992 and managers from 2004-2006. Many of the skills were similar in importance for both waves of managers. However, there were three skill clusters with differences of more than 10 percentage points that should be noted. First, 39.9 per cent of 2004-2006 managers rated â€Å"Relationships† as one of five important skill clusters which was an increase from 29.4 per cent of managers in 1988-1992. Second, 33 per cent of 2004-2006 managers rated â€Å"Administrative/organizational ability† as one of five important skill clusters, a decrease from the 45 per cent of managers was from 1988-1992. Finally, 31.7 per cent of managers from 2004-2006 rated â€Å"Time management† as one of five important skill clusters which was an increase from the 19.7 per cent of managers in 1988-1992. The next set of analyses focused only on the 2004-2006 managers. Examining the results as a whole may mask important findings based on managerial levels. Consequently, we analyzed the importance of managerial skills across the four managerial levels for the present study, similar to [10] Kraut et al. (1989). Figure 1 [Figure omitted. See Article Image.] displays the importance rankings for each skill sorted by managerial level. â€Å"Communicating information, ideas† and â€Å"Taking action, making decisions, following through† were the two most important skills for all managerial levels with the exception of first-level managers. While â€Å"Taking action, making decisions, following through† ranked as the most important for first-level managers, â€Å"Knowledge of job, business† ranked as second-most important, followed by â€Å"Communicating information, ideas†. On the other hand, â€Å"Openness to influence, flexibility† was the least important to managers at each level, again with the exception of first-level managers who believed â€Å"Risk-taking, innovation† was the least important, followed by â€Å"Openness to influence, flexibility†. In general, the importance rankings were similar across managerial levels, though there are some notable exceptions. First, â€Å"Getting information, making sense of it; problem identification† was less important for top/executive-level managers (48 per cent) than for other managerial levels (each over 55 per cent). Second, as managerial level increased, so did the importance of â€Å"Influencing, leadership, and power†, (from 21 per cent of first-level managers to 45 per cent of top/executive level managers), and of â€Å"Risk-taking, innovation† (from 7 per cent of first-level managers to 22 per cent of top/executive level managers). Last, as managerial level increased, the importance of two managerial skills decreased, namely â€Å"Knowledge of job, business† (from 63 per cent of first-level managers to 45 per cent of top/executive-level managers) and â€Å"Time management† (from 42 per cent of first-level managers to 19 per cent of top/executive-level managers). In addition, viewing the results from all managers in aggregate may also conceal important findings based specifically on job function, as managers in different functions may have different managerial challenges ([10] Kraut et al. , 1989). In order to account for this, the present study mirrored the data analysis of the [10] Kraut et al. (1989) study in that the levels of management were equally weighted in each function so that no one managerial level would have statistical influence over the other managerial levels, and managers from marketing (n =282), manufacturing (n =253), and administration (n =489) would be selected. Due to the functional diversity of the sample of the second wave, managers from engineering (n =413), human resources/training (n =345), operations (n =916) and sales (n =518) were also examined. Figure 2 [Figure omitted. See Article Image.] provides the rankings for the skills of managers across job function. It is interesting to note that the pattern of skill importance is similar across functions. For instance, â€Å"Communicating information, ideas† was most important for marketing, human resource, and sales managers, while â€Å"Taking action, making decisions, following through† was the most important managerial skill for manufacturing, administration, engineering, and operations. In fact, across the seven managerial functions studied, these two managerial skills were among the top three in importance for each managerial function. On the other hand, â€Å"Openness to influence; flexibility† was the least important to managers across all functions except for managers in human resources, who believed â€Å"Energy, drive, and ambition† was the least important. Some managerial skills were rated similarly in importance across managerial functions. For instance, between 22 per cent and 27 per cent of managers across different functions believed â€Å"Coping with pressure, adversity; integrity† was important. Also, between 8 per cent and 13 per cent of managers thought â€Å"Self-management, self-insight, self-development† was an important skill to have. There was variability among the importance of some skills across managerial function. For example, â€Å"Administrative/organizational ability† was important for less than 25 per cent of managers in marketing, manufacturing, and sales, but was important for 58 per cent of managers in administration. â€Å"Getting information, making sense of it; problem identification† was less important for sales managers (39 per cent) than it was for engineering managers (65 per cent). Regarding â€Å"Managing conflict; negotiation† it is interesting to note that most managers rated it the same in importance (between 27 per cent and 31 per cent) except managers from marketing, where only 17 per cent of managers thought it was important. Managers in manufacturing (25 per cent) and engineering (26 per cent) ranked â€Å"Relationships† less important than human resources (51 per cent) and sales (52 per cent) managers. â€Å"Selecting, developing, accepting people† was important to some managers in manufacturing and sales (both 35 per cent), but was not as important to marketing managers (12 per cent). Discussion In total, 30 years after [18] Mintzberg’s (1973) original study, [26] Tengblad (2006) found that while some things have changed, managerial work has remained the same, despite changes in the world of work. In a similar fashion, the present research attempted to determine whether the importance of skills managers need in their job have shifted over a 15-year time period. Though many have commented on how the world of work has changed over the past 15 years (e.g. [2] Allen et al. , 2001; [5] DeMeuse et al. , 2004; [7] Kanter, 1989; [16] McKinley et al. , 2000; [17] Miller, 1990; [22], [21] Salas et al. , 2004, 2005; [27] Wallace, 2004; [28] Zaccaro et al. , 2004), the data of the present research suggests that despite the changes in the work environment, the importance of certain managerial skills is somewhat similar. For instance, what was believed to be important in 1988-1992 (i.e. â€Å"Communicating information, ideas† and â€Å"Taking action, making decisions, following through†) is still considered important for managers today. In addition, skills that were not thought of as important in 1988-1992 (i.e. â€Å"Self-management, self-insight, self-development† and â€Å"Openness to influence; flexibility†) are still not thought of as important for managers in today’s work context. Despite these apparent similarities, there are some noteworthy differences between what managers thought was important 15 years ago and what managers think is important today. First, â€Å"Relationships† seem to be more important now than for managers 15 years ago. [26] Tengblad (2006) hinted at this with the finding that executives are concentrating more today (than 30 years ago) on working with others in a group setting. The increased importance of this skill cluster coincided with the changes in the organizational context that managers today must face. The use of communication technology, such as e-mail, and the existence of geographically dispersed teams require managers to be more deliberate in the effort they devote towards forming and maintaining relationships. The nonverbal cues that aid in face-to-face communication cannot be relied on in virtual relationships. By acknowledging and facing the challenges presented by these new forms of communication, managers can successfully execute their job requirements. In addition, the flattening of organizational hierarchies has forced a higher level of coordination and collaboration between peers. As more and more people work in an environment structured around the work team, the more likely a focus on building relationships will be encouraged. For instance, more time is devoted to interdependence and trust in a team setting ([22], [21] Salas et al. , 2004, 2005; [28] Zaccaro et al. , 2004), where ultimately, building relationships is necessary. [26] Tengblad (2006) found that executives are indeed focusing less time on administrative duties, and [7] Kanter (1989) also revealed that organizing work was becoming obsolete with changes in the environment. In a similar fashion, the present study found that â€Å"Administrative/organizational ability† seems to be less important today than it was 15 years ago. One of the reasons could correspond with the recent trend of the flattening of organizations. Organizations have become more streamlined, and responsibility has become more spread out in the organization. In effect, managers do not have a hierarchical structure to manage. The administrative tasks that were needed in more hierarchical structures 15 years ago are not needed as much in the present work context. The advent of technology has also facilitated many organizational processes that were once paper-based. More and more companies have converted to computer-based processes (i.e. online recruiting and staffing) that have minimized the necessity to focus one’s skill on administrative or organizational duties. â€Å"Time management† appears more important now than it was 15 years ago. The reasons why could coincide with changes in the work context. Technology now enables people from around the world to work in real-time, to contact people instantly, and work more quickly. E-mail has replaced mail and fax. The use of cell phones and electronic devices such as â€Å"blackberries† has also increased. At the same time, employees are focusing on creating balance between their professional lives and their personal lives, attempting to get work out of the way faster. Employees and their managers therefore must focus on time management now more than ever. The differences in importance rankings of managerial skills we observed between managers at different organizational levels confirm previous findings in the literature. [10] Kraut et al. (1989) found that some managerial roles are considered important at each level, but the degree of importance may be contingent on a particular level. In the present study, â€Å"Influencing, leadership, and power† and â€Å"Risk-taking and innovation† showed an increase in importance ranking as managerial level increased. Both of these skills are indicative of senior levels of leadership. As a manager takes on more responsibility, it is critical to the manager’s success that the manager’s focus shifts to meet the new demands of the job. Also important to note, some managerial skills differ in importance depending on managerial function and relevance. For instance, â€Å"Administrative/organizational ability† is more important to managers in administration than it is for any of the other functions because administrative ability is inherent in the administrative function. â€Å"Getting information, making sense of it; problem identification† is more important for engineering managers than it is for any of the other functions because working with information and problem identification is particularly relevant for engineers. â€Å"Communicating information and ideas† and â€Å"Risk-taking, innovation† are more important for managers in marketing than any of the other functions because those with a marketing background must be able to communicate and be innovative. Finally, â€Å"Relationships† is more important for managers in sales and HR than any of the other functions because sales and HR functions are dependent on forming and building good relationships. In effect, some skills are important to different managerial functions because of relevance of the specific organizational function. Practical applications Determining what is important for managers at each level and each function is crucial to coordinating work effectively, communicating expectations, and facilitating training and career development activities ([10] Kraut et al. , 1989). Relying on past (or outdated) information about the importance of certain managerial skills, roles, tasks, or activities could hinder effective work coordination, communication, and effective training and career development. Hence, â€Å"updating† this type of information may help managers in their work and development, even if it is to simply validate or reinforce previous findings. Imagine the challenges managers face if relevant information about the importance of certain skills in their jobs were not correct or outdated. If information from previous research from the 1970s or 1980s is still used for coordinating work activities and it has not been updated, managers may be concentrating on different or unnecessary skills that are no longer relevant. This could greatly impede their work, their advancement, and ultimately, their success. Moreover, managers may not be taught the appropriate skills for the present-day work environment that is needed to succeed if training and development relies on outdated information. For instance, [11] Lipshitz and Nevo (1992) detailed research of the competencies of effective and ineffective managers whose activities and practices aided the design of training and development programs. Knowing which managerial skills are important for different managerial levels and functions would definitely bring knowledge to improve training and development programs. Because of their rated importance, the data suggests that managerial training and development in today’s world of work may need to keep focus on communication and decision-making, decrease focus on administration and organization ability, and increase focus on enhancing relationships and the concept of time management. In addition, these findings may help those in selection and in succession planning; knowing that certain skills are important at different levels and functions can help determine what type of manager is needed at each level or each function. For instance, time management may be a skill set that is necessary particularly for first-level managers and not top-level executives, and hence, first level managers should have that appropriate skill for the job. Administrative/organizational ability may be important for managers in the administration function, and those in succession planning or selection for managers in that particular function should keep in mind that information, along with relevant information from any job analysis or competency model. Limitations and future directions There are some limitations to this study. First, asking managers to choose five of 15 skill clusters that are important to their current job does not provide the level of detail that could be obtained by evaluating the importance of each cluster using other methodologies. In the present study, a skill cluster is either among a manager’s top five most important or it is not. Therefore, the data does not permit an assessment of how much more important the top five skill clusters were than the ten skill clusters not selected. In addition, the data did not allow us to assess any relative ranking among the top five skills. As a result, it would be useful to assess the importance of clusters, competencies, roles, skills, or abilities using a Likert-type scale in the future. In this manner, researchers could examine to what extent each cluster is important to managers. Also, examining what managers believe are the most important skills for their job may not yield the same findings as asking what their direct reports or supervisors consider important. Future research should investigate what direct reports and supervisors of managers think are important skills for managers to acquire a more global perspective of managerial competencies, similar to those acquired through competency modeling (e.g. [12] Lucia and Lepsinger, 1999). Also, asking similar questions to managers outside the United States would bring more information about the importance of managerial skills across cultures. Combining the quantitative approach of evaluating to what extent a variety of skills are important for managers along with more qualitative methodologies of on-the-job observation and interviewing to assess competencies should create a more comprehensive picture of â€Å"today’s manager†. Finally, any future research should capture the demographic data for the sample across successive waves. Without knowing more about the sample composition for the first wave of data, it is not possible to ascertain whether changes over time are due to differences in organizational structure or function, differences in individual jobs represented by the sample, or differences in workforce composition. Therefore, explanations of changes cited in our findings may be due to structure changes and changes in technology or they may be due to changes in workforce demographics (i.e. aging baby-boomers). The best this research can conclude is that shifts in the importance of certain managerial skills have coincided with changes in the context of the world of work. However, with the present research data set, having a large sample of more than 7,000 managers with similar aggregate demographic data for each time period may tend to lead to more generalizable results than would a sample of a lesser number of participants. The world of work has changed over the past 15 years. Results of this study revealed that managers today feel the need to concentrate more on building relationships and time management skills and focus less on administrative and organizational ability. However, many of the skills managers thought were important to their job in the late 1980s and early 1990s are somewhat similar in importance from the opinions of managers in the first decade of the 2000s, particularly skills concerning communication and decision making. To answer the original research question, much like [26] Tengblad (2006) found, despite noticeable changes in the world of work, while some managerial skills shifted in importance, some managerial skills remain as important today as 15 years ago. The importance of these managerial skills not only coincided with the changes in the work environment, but also are context dependent based on managerial level and function. For instance, though time management has increased in importance over the years, managers at lower levels (i.e. first-level managers) seem to believe time management is more important to their job than those at higher levels (i.e. top- or executive-level managers). In essence, one should take note not only of how the importance of certain skills change over time, but also, that certain skills believed to be important for managers at one particular level or function may be more or less important for managers at other levels or other functions. 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Kotter, J.P. (1982), The General Managers, The Free Press, New York, NY. 10. Kraut, A.I., Pedigo, P.R., McKenna, D.D. and Dunnette, M.D. (1989), â€Å"The role of the manager: what’s really important in different management jobs†, Academy of Management Executive, Vol. 3, pp. 286-93. 11. Lipshitz, R. and Nevo, B. (1992), â€Å"Who is a ‘good manager’?†, Leadership & Organization Development Journal, Vol. 13 No. 6, pp. 3-7. 12. Lucia, A.D. and Lepsinger, R. (1999), The Art and Science of Competency Modeling: Pinpointing Critical Success Factors in Organizations, Jossey-Bass/Pfeiffer, San Francisco, CA. 13. Luthans, F. (1988), â€Å"Successful versus effective real managers†, Academy of Management Executive, Vol. 2, pp. 127-32. 14. McCall, M.W. Jr and Kaplan, R.E. (1984), Whatever It Takes: Decision Makers at Work, Prentice-Hall, Englewood Cliffs, NJ. 15. McCall, M.W. Jr, Lombardo, M.M. and Devries, D.L. (1979), The Looking Glass Inc. ® Simulation, Center for Creative Leadership, Greensboro, NC. 16. McKinley, W., Zhao, J. and Rust, K.G. (2000), â€Å"Sociocognitive interpretation of organizational downsizing†, Academy of Management Review, Vol. 25, pp. 227-43. 17. Miller, D.B. (1990), â€Å"Organizational, environmental, and work design strategies that foster competence†, in Willis, S.L. and Dubin, S.S. (Eds), Maintaining Professional Competence: Approaches to Career Enhancement Vitality, and Success throughout a Work Life, Jossey-Bass, San Francisco, CA, pp. 233-48. 18. Mintzberg, H. (1973), The Nature of Managerial Work, Harper & Row, New York, NY. 19. Mintzberg, H. (1990), â€Å"The manager’s job: folklore and fact†, Harvard Business Review, Vol. 68, pp. 163-76. 20. Pearson, C. and Chatterjee, S. (2003), â€Å"Managerial roles in Asia: an empirical study of Mintzberg’s role formulation in four Asian countries†, Journal of Management Development, Vol. 22, pp. 694-707. 21. Salas, E., Sims, D.E. and Burke, C.S. (2005), â€Å"Is there a ‘Big five’ in teamwork?†, Small Group Research, Vol. 36, pp. 555-99. 22. Salas, E., Kosarzycki, M.P., Tannenbaum, S.I. and Carnegie, D. (2004), â€Å"Principles and advice for understanding and promoting effective teamwork in organizations†, in Burke, R.J. and Cooper, C. (Eds), Leading in Turbulent Times, Blackwell Publishing, Malden, MA, pp. 95-120. 23. Sayles, L.R. (1979), Leadership: What Effective Managers Really Do†¦ and How They Do It, McGraw-Hill, New York, NY. 24. Stewart, R. (1976), Contracts in Management, McGraw-Hill, London. 25. Stockdale, M.S. and Crosby, F.J. (2004), The Psychology and Management of Workplace Diversity, Blackwell Publishers, Malden, MA. 26. Tengblad, S. (2006), â€Å"Is there a ‘new managerial work’? A comparison with Henry Mintzberg’s classic study 30 years later†, Journal of Management Studies, Vol. 43, pp. 1437-61. 27. Wallace, P. (2004), The Internet in the Workplace: How New Technology Is Transforming Work, Cambridge University Press, New York, NY. 28. Zaccaro, S.J., Ardison, S.D. and Orvis, K.A. (2004), â€Å"Leadership in virtual teams†, in Day, D.V. and Zaccaro, S.J. (Eds), Leader Development for Transforming Organizations: Growing Leaders for Tomorrow, Lawrence Erlbaum, Mahwah, NJ, pp. 267-92.

Human resouce management Essay

1. To confirm that the supervisor’s claims are true, who will you contact? What questions will you ask? What precautions should you take to assure that your investigation is confidential and legally defensible? To confirm that the supervisor’s claims are true, I would contact data processing to look at the sales data. I would want a record of Jeanette’s sales, and also the department sales for comparison. I would also request this from the supervisor. I would instruct both the DP department and the Sales Manager to keep my request confidential. However, it would be reasonable to confirm data so there is nothing wrong with checking data. 2. Review the documentation available related to this case. Is there enough documentation in place based on discipline policy and your experience as an HR manager? Explain. There is enough documentation based on the discipline policy to suspend the employee. According to Exhibit 12.3.5 an employee will be given a verbal warning, which is signed by supervisor (12.3.3.). Next a written warning will be documented, signed by supervisor (12.3.2). I am guessing the dates are October of prior year for exhibit 12.3.3. It is followed by December to June of the next year. In Exhibit 12.3.4 follows the procedure of a written warning to be documented and copied to the HR manager. The next step, however, is suspension. The employee should be suspended. The sales manager is correct, it will not help most likely, but that is the company policy. 3. Assume that the termination is warranted. Managers typically hold termination meetings at The Daily Review but it is not unheard of for the HR department to conduct this meeting. Given the available information, who should conduct the meeting? What steps will you take to prepare the manager and/or yourself for this meeting? Prepare an agenda for the termination meeting. Nevertheless, assuming the termination is warranted it would be wise for the sales manager to handle the termination in the presence of an HR representative. I would go through the entire process with the sales manager of possible scenarios. In addition, I would confirm that he would call Jeanette in, inform her of his decision to terminate her based on her lack of sales and failure to schedule training previously petitioned. The agenda would inquire to call Jeanette in the office. Tell her she is being terminated for failure to perform her job and to attend training. Hand Jeanette her last check, walk her to her desk to get her belongings and assist her out the door. Terminations should be handled quickly and professionally. I would advice Paul, the sales manager, not to add any editorial comments regarding her performance but keep to the bare minimum on the facts. This termination should not come as a surprise to Jeanette. She and the rest of the department are aware that she is not making sales. It is time for a change, while the process should be professional, without emotion and discussion. 4. The Daily Register has some guidelines for severance packages, benefits, and outplacement services, but they are very informal and typically decided upon on a case-by-case basis. In this situation, what would you recommend for Jeanette? I would not offer Jeanette any severance package, benefits, or outplacement services. Jeanette was warned she was not completing her job. She has already cost the company money for failure to perform her duties. Discussion Question #6 I know, this unit_6 is talking about to build relationship, but some times is necessary to fire people. The question here is on how to terminate employees for cause, typically for disciplinary reasons or for poor performance. How do I fire people legally and humanely? Three Legal Reasons for Terminating an Employee 1. The first legal reason that an employer can use to confirm the termination of an employee is if the employee violated a â€Å"known† company rule. For such reason to be upheld in a court of law, the employer will need to prove that: (1) the rule actually exists; (2) the employee knew that it existed; (3) the rule was violated; (4) other employees were terminated for the same infraction; and (5) the termination was reasonable punishment for the infraction. 2. The second legal reason to terminate an employee is if they are not able to perform their job sufficiently. I order to defend this reason for termination in a court of law the employer must be capable to establish that the employee was incompetent to do their tasks. For instance, the employer took reasonable steps to try and improve the employee’s performance by addressing the issue’s in several instances before terminating the employee. Documented evidence is crucial in a scenario like this to prove that the employer’s position in this kind of situation is correct and legitimate. 3. The final legal reason for terminating an employee is if it is in the best economic interest of the company in question. For example, the company is downsizing its workforce for economic reasons. Layoffs are common reasons for terminations in firms that are downsizing or restructuring. Courtesy should be held high in a layoff situation, giving employees who are involved in a layoff need to be given at least 60 days notice. This civility or remark is required by the Worker Adjustment and Retraining Notification Act (WARN). http://www.aftermarket.org/Magazine/InsiderArchives/Toolbox/Termination.pdf http://www.doleta.gov/programs/factsht/warn.htm View as multi-pages

Storm Born Chapter Thirteen

â€Å"You're late,† I told him, trying to act like my robe wasn't lying out on the hallway floor. He glanced around, and I couldn't help a small breath of pleasure. Every ounce of him was charged and ready, that muscled body in a fighter's stance. His dark eyes held a hard, savage expression as he assessed for threats. He was magnificent. He looked as though he could have single-handedly torn apart an army then and there. I wrapped my arms around myself, from neither coldness nor modesty. â€Å"I was walking up your driveway and felt something†¦something dark.† His body relaxed, the animal fierceness in his eyes replaced by that smoky sensuality as he seemed to notice for the first time that I was naked. â€Å"A Gray Man. He had to go keep an appointment with Persephone.† Kiyo's lips twitched into a smile. â€Å"Were you in the shower?† â€Å"Sauna. I impaled him with a mirror.† â€Å"Nice.† We stared at each other, a thick tension building up in the air between us. â€Å"Well,† I said finally. â€Å"Thanks for checking in. You can leave now.† â€Å"Eugenie – â€Å" My confusion and lust took their rightful backseat to my indignation. â€Å"I have nothing to say to you. I don't want to say anything to you. Get out.† â€Å"Not until I've explained everything.† â€Å"Like what? How you wanted to get me pregnant, just like everyone else?† He blinked, clearly surprised. â€Å"I – what? No. Of course not. For Christ's sake, I used a condom.† â€Å"Yeah, I know. I was there.† I could hear the irrational sulkiness in my voice. â€Å"Why else would you have done it, then?† His eyes traveled from my face down my entire body, and then back to my face. â€Å"Why do you think?† I swallowed, attempting to ignore the warmth left from where his gaze had touched me. â€Å"Okay. I get the mechanics of it. But you can't sit there and tell me you being in that bar was a coincidence.† â€Å"No. It wasn't,† he said simply. I waited for more. â€Å"That's it?† He sighed and leaned against the wall. â€Å"I was asked by a friend to find you and mark you so we could keep track of you. I didn't know why; I had no idea who you were at the time.† â€Å"What? Someone told you to sleep with me?† â€Å"Er, no. That was my own, um, improvisation. I could have marked you other ways.† He smiled meaningfully. â€Å"But you were too charming and pretty.† â€Å"Hey! Don't use that fox sex magic on me. It's already caused enough trouble. Who told you to do that? To mark me?† The flirtatious smile disappeared. Silence. â€Å"Look, you're supposed to be the big honesty advocate. If you aren't going to play that way anymore, then I'm going to kick your ass out of here.† A glint of amusement flickered in his eyes. â€Å"I think I'd like that.† He paused. Finally: â€Å"No one you know. Her name is Maiwenn.† â€Å"The Willow Queen.† I took satisfaction in seeing his surprise. â€Å"I know more about the gentry than you think.† â€Å"Apparently. When she found out who you were, she wanted to watch you and find out where you stood on your fath – on the Storm King prophecy.† I met his questioning look with incredulity. â€Å"Are you seriously asking me? You think I want to see gentry take over the world?† â€Å"No, not really. But Maiwenn wanted to be sure on your position. She opposed Storm King before and has no desire to see an invasion. She'd rather put resources into the Otherworld, into staying there and making that home.† â€Å"Smart lady,† I said bitterly. â€Å"I wish they'd all stay there.† â€Å"Don't knock the Otherworld. It has its appeal.† â€Å"Yeah? So, what, you consider yourself one of them?† â€Å"I consider myself part of both worlds. It's who I am. It's who you are too.† â€Å"No. I'm not part of that world.† I stared past him without really seeing, suddenly feeling tired. â€Å"Sometimes I don't even feel a part of this world.† He crossed the distance between us and sat down on the bed. Those dark eyes brimmed with concern. â€Å"Don't say that.† I looked away so he wouldn't see my eyes getting wet. â€Å"I don't know what's going on anymore. Everything†¦everything's changed. I can't turn around without someone trying to rape me. I can't trust the people I love.† I turned back to him. â€Å"I can't trust you.† His hand reached out and touched my cheek. â€Å"Yes, you can. Eugenie, I didn't sleep with you to get you pregnant. I didn't even sleep with you just because you're hot – though that was a definite perk. I liked you. I still like you. I want us to have something.† He'd moved his hand down my neck, to my shoulder, and then to my upper arm. His fingers lazily traced the outline of Hecate's snake. Goosebumps rose on my flesh. â€Å"Don't look at me like that. I don't want to get pregnant.† â€Å"Contraceptive technology is a wonderful thing.† â€Å"I can't be involved with you.† â€Å"Why not?† The words hurt coming out. â€Å"Because†¦because of what you are†¦Ã¢â‚¬  The hand dropped. â€Å"I'm the same – â€Å" â€Å"I know, I know. The same as me. Kiyo, you've got to understand†¦. I've got a lot to deal with right now. I just†¦well, I just can't. Not yet. Maybe†¦Ã¢â‚¬  I looked at him, at the kind and intelligent face, at the smoldering body so close to mine. â€Å"Maybe some day, we can†¦Ã¢â‚¬  Something on my face must have given away my feelings, that no matter how terrified of getting close to him I was, I still liked him and wanted him. The old mischievous smile appeared on his face, and his hand cupped my chin. He pressed his lips against my cheek. â€Å"Then let me be your friend,† he whispered. I closed my eyes and let his heat envelop me. â€Å"Friends don't breathe in my ear like that.† â€Å"We'll be special friends.† â€Å"Kiyo – â€Å" He drew back a little, still smiling. â€Å"Seriously, Eugenie. If we can't be lovers, I still want to be in your life. I want to help you through this. I want to protect you.† I stiffened, and my old snarkiness reared its head through the emotional miasma. â€Å"I don't need protection.† â€Å"Do you have any idea how bad it's going to get for you?† â€Å"I've handled it so far. I'll handle it again.† â€Å"God, you're amazing.† His spoke with admiration. â€Å"But you're also annoyingly difficult. Let someone help you. Let me help you.† I stared stonily ahead. His expression darkened. â€Å"They're going to come after you! Do you think I can just sit around when people are trying to hurt and rape you?† The heat in his voice seared me. He wasn't angry at me; he was angry for me. He regarded me in a way no one had ever looked at me before, an expression that said I meant so much to him that he would take on hell itself to protect me. That intensity wrapped around me. It thrilled me. It scared me. I didn't know what to do with it. Again, he read my face. This time, he pulled me over, crushing my body against his. I didn't fight it. â€Å"Let me help you,† he repeated. â€Å"How? You live an hour and a half away.† He pressed his face against my hair. â€Å"I'll commute.† â€Å"Oh for God's – â€Å" â€Å"I mean it. I know I can't be with you all the time, but I'll do what I can.† â€Å"You're going to trail me like a bodyguard or something?† â€Å"I'll do it as a fox if it makes you feel better.† I laughed in spite of myself, tightening my hold on him. I knew we shouldn't be locked in this kind of embrace, but honestly†¦after everything that had happened, it was comforting. And a turn-on too. But mostly comforting. â€Å"What's that like anyway?† â€Å"What's what like?† â€Å"Being a fox. Is it weird?† â€Å"I don't know. I've always been that way. It's the only thing I know.† â€Å"Yeah, but†¦why not just stay human all the time?† â€Å"I'm stronger as a fox. Comes in handy in a fight.† â€Å"You're not too shabby as a human.† â€Å"Women think foxes are cute.† â€Å"Not that cute,† I grumbled. I could sense his smile. â€Å"It's a good way to let your instincts take over.† â€Å"Which instincts?† In one movement, he had me flipped onto my back. His hands held mine down while his body pressed against the rest of me. Those lips hovered a few breaths from mine. â€Å"All of them,† he growled. My breath was coming out in rapid bursts, and a voice in the back of my head was yelling, Hey! Remember how you don't want to be involved with Otherworldly people? I knew that voice was right, but it was kind of hard to pay attention when my body was melting against his and one of his hands had slid down to the side of a breast. â€Å"I don't think friends are supposed to lay like this.† â€Å"I know,† he said. â€Å"Or bodyguards.† â€Å"I know.† â€Å"Or veterinarians.† â€Å"That I disagree with.† He crushed his mouth to mine, and it was powerful and ravenous and furious and wonderful. I couldn't think or do anything coherent in that moment, only let him keep kissing me and kissing me. At last he broke away. He sat up, and I could see his body tremble. The look in his eyes was still hungry and yearning, and there was a visible struggle within him, a warring of two halves. One must have won, because he took a deep breath, and that animal need faded – slightly – from him. â€Å"I need to go,† he said at last. â€Å"I've got to work in two hours.† â€Å"Okay.† We stared at each other for a long time. I pulled a sheet up, letting it cover part of me. A grin lit his features. â€Å"Thanks. That helps.† He stood up and moved toward the door. â€Å"Hey, would you mind meeting Maiwenn? She wants to talk to you in person, see what you're like.† â€Å"You seem pretty chummy with her,† I said. The words came out sharper than I'd intended, but he looked unfazed. â€Å"She's a good friend. And I believe in her philosophies. She wants both our worlds left intact. So do I. She can be a good friend to you too.† â€Å"Is she strong enough to come over here?† He nodded. â€Å"If she'll do it, I'll meet her. I'm not really keen on going over there anytime soon.† â€Å"I'll tell her.† He took a few steps out the door, and this time I called to him. â€Å"Hey†¦Kiyo.† â€Å"Yeah?† â€Å"All these people and†¦things are coming after me because they think I'm going to be Damien's mother or something†¦but seriously, do you actually think any of it's true? Do you really believe this prophecy could happen? Roland – my stepdad – says prophecies are a dime a dozen in the Otherworld.† â€Å"They are,† Kiyo said slowly, a slight wrinkle between his eyes as he thought. â€Å"And most don't come true. But a lot do, a lot more than you'd think growing up here. The thing about prophecies is†¦well, people sometimes read the wrong things into them. Or, in trying to avert them, they only make the prophecy come true.† I shivered, half-wishing he would have just said prophecies were a bunch of crap. â€Å"You mean like Oedipus? How his father got rid of him to beat that prophecy?† â€Å"Exactly. Doing that only ended up making it happen.† Seeing my dark look, he smiled. â€Å"Hey, don't worry about it. I told you most don't come true. And besides, you're not trying to have kids, so there's nothing to worry about. Concentrate on the now.† I gave him a faltering smile back, hoping he was right. â€Å"Thanks.† He held my eyes for a few seconds before stepping out of the room, only to return a moment later with my burnt mirror. He set it on the dresser, regarding it with displeasure. â€Å"Sorry I wasn't here sooner.† â€Å"Hey,† I said, mustering some bravado, â€Å"I told you I can take care of myself.† Those dark eyes flashed. â€Å"I know. You're a dangerous woman.† I wasn't entirely sure if he referred to my fighting abilities or something else. When he was gone, I lay back in bed with a sigh, thinking I might not move for a week. Things just got weirder and weirder around here. Suddenly I felt a faint pressure build in the room. I sat up straight. Red eyes peered at me from a dim corner. â€Å"Volusian? I didn't summon you.† â€Å"You gave us permission to come if we acquired information.† â€Å"Yeah. I suppose I did. I didn't really think any of you would actually listen to me. What's up?† â€Å"I've come to tell you Otherworldly interest in you has increased.† I stared at him stupidly a moment, then pointed to the bloody athame I'd used on the Gray Man. â€Å"Gee, you think?† He shook his head. â€Å"More than these scattered attacks. Before, others were interested in you simply because of your heritage. Now, after seeing you†¦some are more excited still. They find you†¦attractive.† I could tell the concept baffled him. â€Å"Great. Now I'm fertile and hot. So what's this mean? Should I be expecting daily attacks?† â€Å"More like†¦organized attacks.† â€Å"Groups?† â€Å"Worse.† â€Å"Worse than a group of guys trying to have sex with me? How?† â€Å"For now, only creatures and gentry who can cross over in physical or elemental form will try. But we are weeks from Beltane, mistress. When the doors open†¦Ã¢â‚¬  â€Å"Jesus,† I breathed. â€Å"Everything with a dick is going to come looking for me.† He didn't bother with a response. But when I said nothing more, he asked, â€Å"What will you do?† â€Å"What do you think? The same as I've been doing. I'll fight them off.† He stayed quiet, but I could feel his disapproval. â€Å"What else do you expect me to do? Submit?† â€Å"I expect you to not sit around and wait for the inevitable. You might as well be from one of the bride-by-capture societies. Always being on the defensive will get you nowhere; eventually someone will overpower you.† I laughed without really finding anything funny. â€Å"So, what, I go on the offensive? Head over and just start taking on random gentry and spirits?† â€Å"No. You start claiming your heritage. They attack you because you let them, because you kick at one and then wait for the next. You make yourself a victim, yet you are Storm King's daughter. In his day, his rule stretched farther than any of the current monarchs'. His kingdom may be gone now, but his legacy makes you royalty. If you acted like it, they wouldn't attack you so brazenly.† â€Å"I doubt they'd give up wanting to father Storm King's heir just because I started calling myself a queen or a princess.† â€Å"Oh, they'd still want you, but they would go about it differently. They'd approach you with respect. They would try to woo you. Now they only treat you with disdain. They treat you like the victim – the piece of flesh – that you have let yourself become.† I didn't really like the thought of a bunch of gentry bringing me flowers and chocolate, but I liked it better than rape. â€Å"Yeah, but joking aside, I can't just go in there and say, ‘Hey, I'm Storm King's daughter, treat me with respect.'† â€Å"Well,† he said dryly, â€Å"it would be a start. However, you will drive home your connection to him most when you stop relying on those.† He pointed at my weapons. â€Å"They make you human.† â€Å"I am human.† â€Å"You are half-human. If you want them to respect you as one of the gentry, you need to remind them of who you are. You need to draw on the power within you, on your father's legacy.† I thought about what Roland had said, about how he had purposely buried my power. Faint flickers of the vision came back to me, how I'd reached for power just before it ended. â€Å"No. I won't use gentry magic.† Volusian sighed. He pointed to the burnt mirror. â€Å"Mistress, why did you use that as a weapon?† â€Å"Because a Gray Man caught me unarmed.† â€Å"Had you been in full control of your magic, you would have needed no weapons. You could have destroyed him as soon as he crossed your threshold.† I tugged the sheet up and wrapped my arms around myself. The thought of power like that terrified me†¦and yet deep down, I saw its appeal. I didn't like being defenseless at twenty-six any more than I had at twelve. Volusian sensed this. â€Å"Your true nature knows I am right. It longs to be realized.† â€Å"If I give in to this nature, I'll become gentry.† â€Å"You'll never be fully gentry or human. That you must accept. You must simply take the best of each.† â€Å"Even if I wanted to do this† – I swallowed, still uncertain if I wanted the kind of power he was talking about – â€Å"I wouldn't know the first thing about tapping it. Roland can't teach me about gentry magic.† â€Å"Then you'll have to find a gentry teacher.† â€Å"Where will I find one who won't try to rape me first? I don't really have any friends over there.† â€Å"Don't you?† He looked at me expectantly. â€Å"You mean Dorian.† â€Å"Of all the rulers in the Otherworld right now, only he has ordered his people to leave you alone.† â€Å"Seriously? But why? He told me himself he wants to see Storm King's invasion happen.† â€Å"Most believe he gave the order simply because he wants you for himself. I, however, suspect he also probably acts out of some ridiculous sense of altruism – and his own pride. Of course, some of his people won't heed the warning, but you will find less of them attacking you than others. Like Aeson and his followers, for example.† Apparently Aeson was alive after all. I'd forgotten to ask Kiyo about that in the wake of all the other drama. â€Å"Still†¦Dorian made the attempt, huh?† I thought back to my encounter with him. Of all the gentry, he had been the one I almost felt comfortable with, which was startling, considering how odd he was. And he had helped me. â€Å"But I know he wants to have sex with me too. He didn't really make that a secret.† â€Å"Of course he does. Which is why he'll help you. He'll help you because he thinks it'll bring you to his bed. And because being close to you will impress his rivals and allies alike. They'll think you're lovers, even if you aren't. He'll like that.† You'll return to me. You won't be able to help yourself. I shivered, and Volusian continued: â€Å"You'll benefit as well. Go to him as an equal, and he will treat you as one. His attitude will go a long way to influence others.† â€Å"If I do this, I'll have come a long way from being feared by the gentry to cozying up with one for political reasons. That's quite a leap.† â€Å"Not really. Not if you consider how far you've come since your trip to Aeson's.† â€Å"That's an understatement.† I rubbed my eyes. â€Å"I don't know, Volusian. I still don't know if I'm ready to approach Dorian. I need to think about it.† â€Å"As my mistress wishes. But I would advise you to think fast. Decide before Beltane. Siding with Dorian will offer both magical and political benefits.† â€Å"Noted. Thanks for the update. And the advice.† He bowed, and I stood up to send him back. Before I did, I couldn't help messing with him. I was still naked, after all. â€Å"Hey, Volusian, you haven't been checking me out, have you?† He gave me his trademark bland stare. â€Å"I assure you, mistress, the only allure your bare flesh has for me is to remind me how easy it will be to slice open.† I laughed. If not for the fact he was actually serious, he'd be so much fun.

Sociology Research Paper Example | Topics and Well Written Essays - 250 words

Sociology - Research Paper Example Being raised in a politically aware and active family, Weber had every possible opportunity to form his own ideas about the political and social world around him (Giddens, 1973). He saw first-hand many of the things that he was learning, so he was able to come to his own conclusions about some of these things. Especially with the sociological aspects, Weber was so close to all of the action that he was able to watch as it changed; in fact, after he had gone through the proper schooling, he was able to contribute to the things that he saw and believed. Like most people, Max Weber was influenced by what he grew up around. He took the views from both of his parents, as well as the views of other sociologists before him, and come up with theories of his own that he was able to pass on to the world of sociology. Since his mother was devoutly religious, and though Weber did not share this devout feeling, he based a lot of his work on religious grounds, spending a lot of his time comparing social phenomenon with religion. Likewise, his father being a political person, Weber took some of what he saw from his father and added it into the equation. With his own ideas mixed with the thoughts of his parents, Weber was able to come up with ideas that were uniquely

Principles of Finance Essay Example | Topics and Well Written Essays - 1750 words

Principles of Finance - Essay Example According to the paper the total cost of a project consists of cost of capital, assets, labor expenses, intermediate resources, staff salaries and production expenses among others. Costs can be in different forms, such as real, nominal, primary, secondary, associated expenses and project expenses among others. Hence, while appraising the equipment and facilities manufactured by Danforth Limited and Donnalley Limited, one would have to compute as well as compare the costs involved in both of them. The product of the company that involves relatively less expenses should be chosen over the other.  This discussion stresses that if the scenario is such that the rejection of Dynamo project by Radiant Laundry would lead to the introduction of an identical product by a direct rival, then Radiant Laundry should take a decision on it on the basis of a time period more than 10 years. This is because this project is not viable when considered for a period of around 10 years. Moreover, another imperative point to be considered by Radiant Laundry is the redundant effect the rival’s product would have on its sales figure. If the introduction of a similar product by a direct rival dose not hampers the sales of Radiant to a large extent, then the company should avoid taking up the Dynamo project.  The following segment of the paper focuses on the sensitivity analysis of the project’s NPV on to annual net cash flows and cost of capital individually.... Additionally it has been ascertained that the estimated salvage value of the facility after 10 years would be equivalent to $80,000, which is much higher than that of Dansforth Limited’s equipment. Furthermore, the economic life of Danforth Limited’s equipment facility is only 5 years while that of Donnalley Limited is 10 years. This implies that during the 10 years time frame, the total cost involved with the purchase of equipment from Danforth Limited would be doubled. Consequently, the total costs over the project life of 10 years for Danforth Limited would be more than that of Donnalley Limited by $2 million. Hence it would be advisable for Radiant Laundry Products Company to purchase the specialised equipment and packaging facilities from Donnalley Limited. Analysis of Cash Flow Capital budgeting choices are supposed to be based on cash flows, instead of accounting profits. Additionally it is the incremental cash flows that are applicable (Broyles, 2003; Polimeni & Et. Al., 1994). Thus, we would compute the additional cash flow that Radiant Limited expects to generate if it implements the Dynamo project. The components for the computation of cash flow for the Dynamo Project are as follows: Investment for test marketing = $1,500,000 Cost of Equipment= $2,000,000 Total Initial Investment = $3,500,000, Cost of funds: 15% Salvage value = $80,000 Economic life= 10 Depreciation per year (at the rate of 30% on the reducing balance basis) Year Rate Value of Equipment Depreciation 1 30% 2000000 600000 2 1400000 420000 3 980000 294000 4 686000 205800 5 480200 144060 6 336140 100842 7 235298 70589.4 8 164708.6 49412.6 9 115296.0 34588.8 10 80707.2 24212.2

Morality Essay Example | Topics and Well Written Essays - 500 words

Morality - Essay Example Considering that fundamentalist followers of any religion will have a different moral code from those of a liberal bent, it becomes nearly impossible to take dogma as a guideline for morals. Similarly, there have been times in history where certain laws themselves were unethical and even immoral therefore to follow those laws would be unethical and immoral. Therefore, I feel that my own morals come from ethical guidelines that have been given to us by experts in the field who continually update their suggestions based on changing times. That strikes very close to my idea of life since life itself is full of change and this dynamic nature of life is tremendously exciting. While the basic realties of life itself may not alter everyday, the expanding knowledge and greater understanding we have of the world around us brings changes to our lives which make it worth living. Considering the difference between what we knew a few hundred years ago and what we know today, it is not easy to project how our lives will change in a few years let alone a few decades. Yet the coming changes do not scare me in the least for I know that I will keep trying to improve my own condition as well as those who are around me. If I can devote my life to that purpose alone I would think that I have lived a good life and do not need to go far beyond that. I know that I can not change the world and I know that I probably will never be able to create anything which has a lasting affect beyond one or two generations that follow me. However, it is the idea which excites me that if I try hard enough I will be able to make a difference. Even if it is a small difference it should be something which adds to the quality of life rather than something that subtracts. Therefore, as I keep improving my own abilities and seek out ways in which I can make the lives of people

The body shop relationship marketing Essay Example | Topics and Well Written Essays - 3000 words

The body shop relationship marketing - Essay Example The network of relationships whether with the supplier, customer, distributor, employees, partners or with the regulators is the playground for practicing relationship marketing techniques. The traditional marketing that has helped businesses to grow for decades can now be rendered as outdated with its narrow scope and inflexible approach. However, despite of these huge changes in the market dynamics, the fundamentals of marketing still remain the same. In recent times a lot many companies and organizations have tried adhering to the best practices of relationship marketing, but at the same time there have been examples where they have lost their grounds in this blind run. To ensure the better understanding of the subject matter, it becomes essential to discuss the same in the context of a company that has been practicing relationship marketing aggressively. Body shop in its more than 30 years old history (The Body Shop n.d) has launched many initiatives that focus on building relationships with all the stakeholders throughout the business network. This essay will attempt to address all the benefits of relationship marketing and simultaneously the flaws related with it will be discussed The body shop that was launched in UK in the year 1976 deals in beauty products which are made of naturally occurring ingredients and focusing on the philosophy of ‘Green Business’. Its network comprises of more than 2500 stores around the world through which The Body Shop operates in a global environment. Apart from that these stores located in almost 61 countries, the Body Shop also has strong online presence as well. There are various initiatives launched by the organization which help the organization to develop as a socially aware and responsible brand. This initiatives communicate strongly about the ethics of the organization that it not only cares for the people who are directly associated with it, but is also

Cheapchip Cooke Project Business Plan Essay Example | Topics and Well Written Essays - 2500 words

Cheapchip Cooke Project Business Plan - Essay Example Next, fixed overhead costs must also be managed with much care because here electricity and gas costs might rise even without the knowledge of the management. A significant percentage of businesses are faced with the threat oc closure nowadays because of the rising energy costs. Finally, cost centers or cost drivers as they are known in accounting jargon, must be identified before costs are allocated to them. Failure to do so will lead to confusion as to which area of the business has higher costs and which less. * Operating Leverage may be defined as the ability of a firm to use its fixed operating costs (rent etc.) to magnify the effect of changes in sales on its earnings before interest and tax (EBIT). The formula for Degree of Operating Leverage (DOL) is: 3. Number of cookies of various categories that can be baked during 180 days are: 1792 x 180 = 3,22,560 while my budgeted annual sales stand at 3,87,082 (the margin of safety output). I assume that the difference of 64,522 cookies can be baked with some overtime work assigned to full-time workers. My calculations of the break-even points or output levels are based on a realistic assumption of what is desirable and achievable given the capacity constraint imposed by the 112 batch of cookies per 30 minutes. Working hours per day cannot be stretched beyond 8 unless overtime payment is given to those workers who willingly work after the 8-hour shift during the night. My calculations of costs both fixed and overhead are based on realistic estimates that included the additional costs of selling cookies such as the cost of 0.25 cents per cookie sold. Also I have taken into consideration the total fixed cost as equivalent to $ 40,000 per year excluding the depreciation charge. I have assumed a breakeven point of 70,000 cookies per annum of type C1 which is priced at $ 0.50. Even if the

The Changes In The Use Of Buildings In Manchester Essay

The Changes In The Use Of Buildings In Manchester - Essay Example The city features a lot of famous buildings and landmarks including its palatial mills, warehouses, libraries, churches and other historical landmarks. The city of Manchester is also accredited to be the city from where the Industrial Revolution initiated. The city’s buildings have displayed an immense show of power, politics and wealth. The banking halls featured in the famous King Street simply go on to show reflect what’s just mentioned above by its large and well-furnished banking halls which were built during the Victorian era. Everything changes with time and so has the building landscape of Manchester. The twentieth century saw the grown of what’s referred to as the â€Å"modern day Mexico†. Recognizing the importance of studies, the Central Reference Library was built on Saint Peter’s Street, aiming to provide students and old aged people a good place to study and increase their knowledge about things. Focusing on civic amenities of the metr opolitan, the Town Hall Extensions were also developed with an aim to provide people places where they can head out to. Throughout the years the Manchester City Council has played a very active and important role in maintaining the old buildings of the city alongside constructing new ones. The citizens of Manchester take very much pride to be associated with in a city whose council has not just maintained old buildings and preserved the heritage of the city, but utilized them in such a manner that their existence is utilized to their full capacity. The once famous Corn Exchange has now become a Triangle, the famous Joshua Hoyle’s warehouse situated in Piccadilly has been converted into the classy Malmaison Hotel and the Watts Warehouse has been converted into a glamorous hotel.

Compare the relative qualities and characteristics of Modular Essay

Compare the relative qualities and characteristics of Modular Information Systems against Integrated Software Systems in respect - Essay Example This information is produced to meet a business objective and it is valuable to the company. Information system is a set of elements which collect data, process and give the output data and information (Sommerville 2010). Business information systems are used by businesses and organizations for storing, processing and analysing data. The information systems are useful to the organizations since they enable the employees to recognize new patterns and relationships in the stored data. This enables the companies to make important decisions which ensure that the organization gains a competitive advantage in the market. The information systems ensure that the organizations activities are conducted efficiently and reliably and this improves the overall performance of the business. There are different types of information systems and this leads to variations in the functionalities of business systems. Computer systems are software programs that are developed to capture, store and manipulate data. There are different types of computer systems in the market and this depends mostly on the functionality of the software (Ajmani 2004). There are different processes of developing software programs and this result to different software products with different characteristics. The process of developing that system is crucial to the functionality of the systems. Modular information systems are comprised of different modules that are connected together. The development of this system is done by partitioning the overall system into distinct parts known as modules. The modules have different functionalities and are developed independently. This type of development is preferred by organizations which have different functionalities and require detailed processes in the software systems. The modules are then integrated to form one huge system which can be used by an organization to conduct its business activities. Integrated software systems are developed as single units and the func tionality of the system is achieved by the whole system. Most of the integrated software systems are off-the shelf systems which are bought directly from the software dealers (Bass,et al., 2008). The functionality of the system meets the requirements of the organization and there is no need for gathering specific requirements of the organization. Modular information systems are flexible. This is because it is possible to replace or add one component to the system without affecting the other rest of the system. This is useful in organizations that are involved in many activities which are dynamic (Clements and Kazman 2008). The new activities that are carried out by an organization might require the development of a new system to meet the functionality required by the organization. Organizations which have modular systems can easily integrate new modules to meet their requirements. This is effective as there is little interruption to the business activities since one module is only a ffected. Integrated systems might result to the disruption of the whole system as new functionalities to the existing systems cannot be added without affecting all the system processes. The modular information systems perform better than integrated systems. The modular systems are developed from requirements that have been gathered from the organization. This ensures that the system is developed to perform better in the

Culture Case Study Essay Example | Topics and Well Written Essays - 1250 words

Culture Case Study - Essay Example The criteria surveyed on are: diversity recruiting policies, leadership development initiatives, training programs, opportunity for mentorship and activeness of employee affinity groups. All these points to a successful cross cultural management that we can learn from and worth to case studied into. Touching on race and ethnic diversity in the case study, there also are some theories that focus on positive predictions or possible positive outcomes of racial/ethnic diversity. This comes from a "value in diversity" perspective ([Cox, 1993] and [Cox et al., 1991]) which argues that diversity creates value and benefit for team outcomes. Group performance is thought to be enhanced by having broader resources and multiple perspectives (Hoffman, 1959). Particular to race, some studies (McLeod et al., 1996 P.L. McLeod, S. Lobel and T.H. Cox, Ethnic diversity and creativity in small groups, Small Group Research 27 (1996), pp. 248-264. Full Text via CrossRef[McLeod et al., 1996] and [Watson et al., 1993]) have found that ethnically diverse work teams make better decisions than homogeneous teams. The general assumption that underlies these theories is that an increase in racial or ethnic diversity means that a work group will experience possible positive outcomes such as: increased information, enhanced problem s... oblem solving ability, constructive conflict and debate, increased creativity, higher quality decisions, and increased understanding of different ethnicities/cultures. This is true for our case study as Mark Welch, Director of Global Diversity & Inclusion at Northern Trust says in the article (l.5). Because of the diverse background of each individual and culture, when faced with the same problem in the work group, different solutions emerged from the respective culture. Since each culture is unique and so there will be differences, which results in a bigger pool of ideas generated to achieving a problem. This increases the number of comparisons of ideas between one to another. As a result, combinations and hybrids of solutions will surface giving rise to more information. What will be beneficial is that the ability to solve problems will be enhanced since there is an acquirement of new perspectives to solve the same problem, meaning if certain conditions impedes the implementation o f one solution, another solution acquired to the same problem may be more viable. This syndrome is a proof of increased creativity of the individual or of the group. Being in a diverse group, common sense will tell that being sensitive to another's race or ethnicity or hostility will arise. In view of this, to cater to the care of a co-colleague emotions and perspectives very much individualized in a person, and at the same time to disagree maturely based on facts, the way is to bring across constructively conflicts and debates. To achieve so, one will need to seek out the understanding of another's race and ethnicity if an authentic relationship is to be established in the work place. With the increased solutions, there will come about the choice of the best solutions and the motivation

Economics Commentary - article on the Haitian Earthquake Essay Example for Free

Economics Commentary article on the Haitian Earthquake Essay IN JANUARY last year, the quake causes the 2004 Asian tsunami, which kill 250,000 people and 300,000 injured. People were living under sheeting strung across wooden poles. There were too many vulnerable homeless people that aid agency cant fit them in tens. People are trapped in supermarkets, debris and so on. I feel really sorry for them and I hope casualtys family can be rest in peace. First of all, there will be a change in Haitis economy because theres a huge effect of Haitis production. Haiti lost 250,000 people and 300,000 people were injured. They lost loads of labor and enterprise just because of this. Labor are human resources providing power to make goods and services Enterprise is a firm is an owner of a factory or company e.g. Nike, Apple. Capitals such as Houses, hospitals and factories were destroyed. Capital is man made resources that use for production. Many animals got kill by this earthquake and tsunami and destroyed timbers theres loss of land. Land is natural resources that cant add by human. Clearly, Haitis production is decreasing. In this case, we can use a PPF to explain the situation. PPF is a curve that shows the combinations of 2 or more goods that can be produced using all available resources. Heres the PPF of Haiti before tsunami. PFF1 is Haitis PPF before tsunami and PPF2 is Haitis PPF after tsunami The PPF shift to the left means theres decrease at both actual and potential output. Actual output is what the country is currently producing and potential output is the maximum outputs you can produce will all currently resource. Because Haiti lost a lot of capitals, land, labor and enterprise, its production is running down. Therefore, its PPF shifts inward. Theres also economic decline and economic deterioration. Economic decline is the percent decrease in real GDP per annum and economic deterioration is decrease in living standard for everyone in the country. There is a shift of PPF because of the environment factors (earthquake and tsunami). There was a change of Haiti peoples demand because of the tsunami and earthquake. Demand is amount of a good or service that consumer are will and able to buy at a given price over a period a time. Whats the change of Haiti peoples demand? Tsunami and earthquake destroyed a lot things, one of them is food. Haiti people are in starvation, theres no more flesh food for them so their demand of canned food rose. It is because inferior goods demand if rise when theres war, natural disaster. Inferior good is a good that can replace another good as a substitute. The demand of Haiti peoples canned food This is a demand curve shows people in Haitis demand of canned food rise from D1 to D2. Because the demand determinate is not price of the good of itself, its environment, theres a shift of demand curve to the right. Demand determinants are factors that can affect the demand such as: price, consumer income, and low populations Evolution Haitis earthquake and tsunami are lost and a pain we would never wanted to happen and they took millions of peoples life away and destroyed thousands homes. Here are few solutions I think it might help to raise back the economy of Haiti. First of all is asking UN for help. The United Nations (UN) is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace. United nation will usually provided aid and food for refugees. Second is building hospitals and factories. Recovering labor and capital is an important step to get the economy back on track. Education is more important in Haiti than other countries. They need new blood to contribute for the society and thats where education is needed. Good people equal good country.

The Determinants of Inflation

The Determinants of Inflation This research provides some interesting facts and phenomena. It has been observed that how inflation can be affected by different factors in the Pakistan economy. How monetary policy and others have impact on inflation. This study reveals some interesting concepts which usually been understood by general. This study covers the aspects in which research analyze that how aggregate demand and money supply can put impact on inflation. The study examine that whether or not by increasing aggregate demand and money supply, the price increase or vice versa. The aggregate demand and money supply used as independent variables and inflation as dependent variable, these all are scale variables. The statistical model apply in the study is Multi Linear Regression given in the SPSS. Key Words: Aggregate Demand, Inflation, Money Supply CHAPTER 1: INTRODUCTION In this section, the researcher has briefly explained the literature based background of topic of the research, objective of research, methodology adopted in research, research questions followed by hypothesis which were tested in this research study. Overview In the field of economics and finance, inflation and the discount rate policy have very crucial role, discount rate is used as an instrument by Central bank of the country to control the money supply and also inflation. In economics rise in prices is basically known as Inflation or where the supply of increase but actually as we seen in the live situation that both increases side by side. The change in money supply has not been affected by output or the elasticity of output supply has decreasing and become to zero in the impact of money supply when true inflation begins. If inflation is just a general increase in prices as popular thinking has it, then why is it regarded as bad news? What kind of damages does it do? So thats why inflation is most important concern of people as Inflation has put strong impact on the life style of the people. Pakistan is facing the situation of increase in prices because of the increase in demand while on other hand supply respectively constant. To han dle this phenomenon, state bank use discount rate as a tool to handle the money supply and demand. When they want to decrease the inflation, discount rate will increase which causes the decrease of money supply, so by doing this, supply will cope up with the demand of money. Currently if we viewed the situation of underdeveloped countries as well as the developed economies, both are suffer from this inflationary pressure. The whole world according to the current scenario dealing with the pressure of prices increasing phenomena, this is just because of different reason in which we seen that inflation rate was on higher side than the previous years and this also due to increasing unemployment situation, these things are difficult for all to handle the Inflation. So the aim of initializing this research is put focus on how Pakistani authorities taking steps to control the phenomena of inflation, so considering these, steps taken by Pakistani government are precise or not. By initializi ng these steps, Pakistani government will successful to lower down the prices or not. This study is helpful for under developing countries like Pakistan to understand that the factors which are aggregate demand and money supply have some impact on inflation or not. These factors would be the main determinants of inflation in Pakistan like economy or not which is under process towards prosperity. Objective Of The Study The main target of this research is look at the role of different factors and their impact on inflation in the Pakistan economy. How inflation is affected by the aggregate demand and money supply. The aggregate demand and money supply increase then these will have direct impact on inflation or not. Problem Statement It is very important to see the role of inflation in economic environment by all concern personnel. The economy of Pakistan has going towards upward trend from last few years, although there are yet some unsolved very important issues in the economy. The largest issue of the economy is the inflation. In this study, we try to look at the factors affecting inflation, its main causes in this economic scenario of Pakistan and there measures to handle or overcome these. As the core problem, authorities or concern personnel keen to know that how inflation rises and what determinants like money supply and aggregate demand actually have play strong role to maneuver the inflation. They also want to know that whether by increase in money supply, inflation rise or decrease due to reduction in money supply. It is also important to know that when aggregate demand increases, prices goes in upward direction or vice versa. This also knows able that inflation may be impact by money supply or aggregat e demand individually or collectively. Research Questions The researcher has developed following research questions according to the statement of the problem: Q1. Does increase in inflation is because of increase in Aggregate Demand? Q2. Does increase in Money Supply cause to increase in Inflation? Q3. Is there significant relationship between price increase and increase in money supply? 1.5 Research Hypotheses Considering the research questions of the study researcher have developed following hypothesis: H1: inflation is increasing due to increase in money supply H2: inflation is rising due to increase in aggregate demand H3: there is no significant relationship between price increase and increase in money supply Outline Of The Research This research examines the impact of aggregate demand and money supply only on the inflation in the current scenario of Pakistan. In this study researcher would try to analyze a relationship among the factors (aggregate demand and money supply) and inflation. CHAPTER 2: LITERATURE REVIEW Our research is about determinants of inflation. The selected research papers are associated with the inflation; discuss how inflation affects the different economies and its causes. These researches which have been selected and studied for building our concepts about inflation and its impact on economy, were covering different issues of inflation happening in world economy, and as per requirement of need and problems. It also based on the different needs of different areas and the attitude of markets and economies of the host (researchers) objectives. The research is conduct when the problem is arises and defined then the researcher work starts and they study the issue and try to find some solutions and their remedies. The paper investigates the association between inflation and output growth on the Turkish economy. The researcher used GARCH model in his study to investigate the relationship along with granger causality test. The variables used in this research were inflation, output growth, real and nominal uncertainty. The researcher emphasis was basically on the point that Turkish inflation was affected by output growth or not. The research covers the period from 1986 to 2007 and use monthly data of Turkish economy. In the study, by using GARCH, the researcher looks on conditional means and variances of inflation and output growth and covariance among each other. The researcher also used the BIC and AIC optimal lag-length algorithm. It took the consumer price index and industrial production index which used for price level and production output. Researcher took the log of CPI for obtaining inflation for the purpose of investigating the inflation and output growth relationship. The findings of th e research include the sum of estimated inflation coefficients is -0.042 and ARCH parameter is calculated as 0.360 and 0.426 for output growth and inflation equation respectively. GARCH parameter for output growth is 0.234 and less than 1, so the ARCH parameters are greater than the GARCH parameters which present the view that short term effect are more than the long term effect. The researcher deduces the result that Turkish inflation is effected by output growth by nominal uncertainty channel. This research is important in its own for coming days because of the global economic crises, high level of output growth is induce by foreign capital will decline and this decline would increase the inflation in near future. Further in literature review, we study the inflation targeting and core inflation, here researcher looks at the association of core inflation and inflation targeting used as monetary policy. Basically core inflation is the measure of inflation in which food and energy prices are excluded. Real output of the economy has no real impact which be long run from the inflation rate or the changes in input prices developed by inflation rate (Quah and Vahey 1995; Eckstein 1981). The main emphasis of the research is the inflation in different countries. Policy makers dont want to include short term or temporary changes in inflation, so they wish to focus how these temporary changes exclude from inflation to able to get the real results. Core inflation is an idea that is use as measure the future inflation because it eliminates the temporary shocks those policy makers does not want to take in. The method used in this research was ordinary least square model and auto regressive model. Variables taken in the study were real GDP, CPI, trimmed mean (limited-influence estimator), the frequency of data used in the research range from 1980 to 1990 and early 2000 and the study sample was the data on quarterly basis of 12 countries. The study confirms that monetary policy has direct impact on core inflation (gives the forecast future inflation). Weighted average of both Trimmed mean and lagged inflation used empirically for the estimation of Core inflation. Two views drawn from this research were, first one is the inflation targeting has made the level of accommodation different for the central or reserve banks, although, inflation and non-inflation targeters after inflation targeting begins same. Secondly, since the early 1980s the public appears to believe that central banks of the countries are fairly non-accommodative and inflation targeting did not alter this perception. The researcher examines the possible interaction of conditional means and variances by accommodating the lenient and interactive framework whose impact on real activity by uncertainty of inflation. The model used in this research MGARCH and variables used for the research were inflation, inflation uncertainty, price, GDP deflator and CPI. The data frequency ranges from 1966 to 1979 and 1966 to 2000 on yearly basis. The importance of research is due to global economic conditions, so thats why others authors put their suggestion that the rate of investment which is decrease due to uncertainty of inflation is basically deter the long run contracts or by rising the option value which actually an irreversible investment. So thats why reduction in allocation in price system efficiency is because of inflation uncertainty which basically integrated to the relative price variation increment. The researcher reexamines the effects of inflation volatility by integrating the identified variance w ith MGARCH. The researcher find that the multivariate GARCH and VAR is give the reasonable explanation of the data. The main findings of the research is that the inflation has significantly reduced by real economic activity during 1982 post era, the research also concludes that average shock to inflation uncertainty has try to reduce output growth. The reduction in volatility in inflation process is due to macroeconomics policies which likely to speed up the overall growth. Furthermore; we studied the research on commodity prices, wages and U.S inflation in twentieth century which investigate the impact of primary commodity prices and wages on U.S inflation with respect to markup pricing. The methodology used in this research is Regression analysis and variables are inflation, markup pricing, primary commodity prices and wages. The researcher use annual data ranging from 1900 to 2001 of U.S economy. This researcher find that commodity prices and wages completely pass through into inflation of finished goods prices with both input have positive significant impact. So the rate of change U.S producer index have affected by these factors. The study deduce that aggregate demand growth has a negative affect on markup which further negatively impacted on finished goods inflation after controlling prices. The other one is the food prices, expectation and inflation. The main emphasis of the researcher is on food prices plays a special role in the formation of consumers expectations of inflation appears to be widely held by policy makers. The model used for this purpose is regression analysis and data used from 1950 to 1970 late on quarterly basis of United State. The variables used in the study were Food prices, rate of inflation, and wages of labor. The researcher investigates relationship of money growth, output growth and inflation. For this purpose, data of 81 countries used covering period from 1980-1993. The M2 growth rates (average) used to explain the cross-section inflation rates. The co-efficient of M2 growth are strikingly close to one where inflation and money growth high. Through study, it identify that these countries whose money growth and inflation relatively low. The estimated co-efficient of money growth was only 0.69, so a less complete explanation of inflation offers by quantity theory. Growth of Money GDP was nearly and consistent with monetary neutrality the research forms on money growth, output growth and inflation as key variables. The model, quantity theory is a mostly used model of inflation but not for those where long-run found low. The researcher found during its study that real GDP growth can be used to mitigate inflation. For this, some variables those are exogenous forces like growth in technologi cal progress, physical capital information and human capital. Through this study, researcher found that role of real GDP growth and money as determinants of inflation. Further in our literature review, we study another perspective of inflation on economy. By studying this paper, we found that hoe inflation process affect the economy in different ways and different variables of inflation. High and persistent inflation of this kind is labeled chronic inflation (Beckerman 1992). The researcher developed an error correction model to analyses the relationship of dynamics and long run determinants of chronic inflation. In this paper, researcher uses the Johansen procedure to test the integration in the foreign exchange markets and money. The study reveals that the oil prices, interest rate, output and money dynamically affects the domestic inflation which determined by exchange rate and foreign prices in long run. The researcher deduces that increase in inflation was transmitted to next p eriods inflation where price has a positive co-efficient. So the study reveals that the increase in overall inflation was due to an increase in oil price or in money growth, and also due to increase in rate of devaluation of the exchange rate increase while output growth goes up, the inflation decreases. Another aspect has been studied to understand the relationship between inflation and growth. Here researcher investigates the matter which is growth and threshold effect of inflations existence. The research findings reveal that for industrial countries, threshold reveals of inflation at 1-3 percent and for developing countries at 11-12 percent, where now growth of inflation was estimated. The researcher also points out that the relationship between inflation and growth was negative and significant when inflation rates above the threshold level. The researcher used data of 140 developing and industrialized countries covering time period 1980-1998.Statiscally, the threshold level of inflation consider significant at 1 percent or less. The research is about relation between assets return and inflation in large developed economies, data of 41 national markets including time series and cross-section of expected return. The researcher deduces that negative time series relation between realized asset return and realized inflation. This negative relation appears when returns of long horizon were examined. The researcher also examine that inflation hedge do not serve by equity returns country by country. So when seeing relation between co-relation of asset returns and inflation, in low inflation states that high, world and U.S equity market were more co-related with returns of emerging markets. This shows that there was very little difference between volatility of low and high inflation states in emerging and developed. The results of the study reveal that inflation can be a national equity attitude. Researcher found that differences in inflation states can be differentiate expected returns and have stringer impact to di fferentiate the volatility in different economies. The differences in inflation rates was explain 31 percent of variation in average returns and 59 percent volatility of cross-section in same market across the 41 countries. Here researcher analyzes the effects of high and uncertain inflation. Data used of forty four countries and covering period of twenty years. Researcher deduce that uncertainly has a strong impact on inflation across countries, relation, while in some cases, there are some relation exist between inflation and uncertainty within country relation, but not so strong within 44 countries, 18 of these were industrialized and remaining were developed. Researcher used Okuns hypothesis to test the rationality of the data. Researcher deduce that positive significant co-relation exist cross-country wise, while co-relation was weak within country. So result shows that 15 countries have a positive significant coefficient which was at least one. This paper analyzes the dominant factors, which affect the inflation in Nigeria. Researcher used error correction model of inflation process which based on money market equilibrium conditions. Data used covering period from 1985 to1995. Researcher examines devaluation of the naira and agro climate conditions. Researcher found that depreciation of naira on inflation has been affected significantly by monetary and fiscal policies. The result shown the prices increased through devaluation although these counteracted by proper implementation of policies. Researcher also found that a tight policy major reduces the impact of devaluation on domestic prices during mid 80s. While in early 90s devaluation magnifies the impact on inflation during excessive expansionary policies. The rate of inflation has been influenced by agro climate conditions and this has major impact on overall movements in prices. This research examines that issue of nonlinear effects of inflation on economic growth. Researcher founds that the economic growth relative to inflation has a significant structural break. This structural break was established when inflation was at 8 percent. Growth does not more on slightly affected by inflation below that rate. Data used in this research covering period from 1950 to 1980. While the growth has been significantly affect by inflation when inflation rate was above 8 percent. The research also examines the fact which explains that the effect of inflation on growth estimated was biased by factor of these, when structural break was ignored. So when structural break was considered, economic growth increases by factor of these by the estimated affect of inflation. This means that estimated affect of inflation has shown significant base when structural break exists. By this phenomenon, researcher deduces that when average annual rate of inflation was 8 percent, the point of structural break was estimated to occur. This also deduce that economic growth had not been affected or slightly positive affected when inflation was low, while on other side, economic growth has significantly negatively affected by inflation when it was high. Further in literature review, we studied the theoretical relationship between the size of capital stock and in economy and rate of inflation. This research reveals the fact that shows how capital stock in an economy affected by inflation. The researcher presents some time serious evidence. Researchers used VAR model for thirty four countries. The study reveals the facts which investigate by researchers were that majority of countries had not affect capital stock significantly by inflation process statically. Capital stock affected while inflation not to be super neutral, the co-efficient were positive and capital stock less affected. The researcher use data which comprise private and public capital. The public capital financed by revenues partly, which could lead positive relation between inflation and capital stock. Garber (1982) has argued that some of the transition costs after the German hyper inflation were due to the fact that private investment was no longer subsidized out of seignior age revenues. Researcher found that behavior of government could lead positive relation. The researcher deduces that across country differences in the relationship between inflation and capital stock produced by tax authorities through their different treatments of depreciation and nominal interest deductibility. Further in our understanding about inflation and its causes, we study the issue which examines high trend inflation countries predicted by sticky price models based on menu cost. The researcher used country specific approach to see how output affected by demands smaller impact and less persistent output fluctuations. The researcher used two stage estimation methodologies to examine the issue. Data used in this research comprise 51 countries covering period of 1950-1996. The researcher found from his research that output fluctuations would be persistence while short run impact effects perceived through price stickiness. In this paper, study reveals menu cost model of price stickiness which predicts the high trend inflation should lead to smaller impacts effect of nominal demand shocks (Ball et al. 1988) and less persistence in output fluctuations (Kiley 2000) Through two stage approach, using international data both studies find support. Researcher investigate that the output persistence within countries has affected trend inflation. The researcher deduce that hyper inflation emerge in those countries of high average inflation. Researchers found the strong support that inflation with high trend has lower impact within countries, so that output persistence in individual country not affected by trend inflation. That means important source of short run impact effects could be price stickiness. Furthermore, the role of money demand and money supply which determines the potential of inflation. In Switzerland at beginning of eighties, upward movement of price level was seen. The main issue to conduct this research was that through determining the growth of monetary base, monetary aggregate growth can be controlled. The role of the price level as the equilibrating valuable in the money market can be understood by considering an individual and market experiment (Laidler, 1985). Data used from 1980 to 1987. The main target of the paper is to find out how price levels stabilize over a long term horizon. So rise in income has to maintain pace with money supply in growing economy, the growth of output equal to money stock which expanded at output rate. The researcher using econometrical evidence suggest that price level with a growth trend of M1 that is lower then the potential income growth. The study describe that inflation rate of one present means M1 growth was one percent whic h greater than the base line. The empirical analysis of the study shows that fluctuations of the price level incur from movements of interest rates. So variation in nominate interest was due to inflationary expectations changes. The study explains that constant arte of secular consistent with nominal money stock. It means money growth unchanged with the demand. So that why the smoother price level will result with steady money growth. On other hand, changes in marginal productivity of capital which affect the real interest were due to technical progress, government deficit change in tax rate. The researcher deduces that such shocks can be put their impact on economy like Swiss. So thats why monetary policy has an important role to detect and react against these real factors which affect interest rate. Reaction of monetary policy means money supply by reduced the impact of such factors those cause to increase the interest and vice versa. CHAPTER 3: RESEARCH METHODOLOGY In this chapter, researcher has discussed method of data collection, sampling technique, sample size, instrument of data collection, content validity of instrument, reliability of the instrument and researched model developed. 3.1 Method of Data Collection Normally data is taken from the specific method and techniques through the questionnaires or through observation. But in this case we take the data from other sources which is already been used and also bias less. Data is used as the secondary data, which is collected electronically from the website of State Bank of Pakistan and other websites. The yearly inflation rate (CPI) of Pakistan is taken from the official web site of Sate Bank of Pakistan and also the yearly data of GDP as aggregate demand and M2 as Money Supply. The study adopts qualitative and quantitative paradigms. The study uses mixed method design with chi-square and correlation as quantitative mode of inquiry, and ground theory as qualitative mode of inquiry. 3.2 Sample Design Sample is taken as the yearly basis to test the correlation between inflation and aggregate demand. We use the yearly data instead of monthly because the GDP is not available on monthly basis. In this research we will use purposive sampling technique, because we will collect data only from Banks (SBP), some business journals, government sources. The data having very high number of observations which is helpful to use MLR model of SPSS. 3.3 Sample size Sample is the 41 number of observation, which is taken on yearly basis and the data of 41 years covering the time period from 1970 to 2010. This is healthy number of observations in any data to take the result on multi linear regression model (MLR) N= 41 The data used in this research is reliable and bias less, because it is taken directly from the consult authorities which assure the accuracy of data. The data firstly was taken of 10 years on the monthly basis but later we summaries it to see the significant and clear impact of aggregate demand and money supply on inflation, then we take the yearly data of all the variables. 3.4 Research model developed This study is focuses on the issue of inflation. Here we try to look what are those factors which can put impact or create influence on the inflation in the economy of Pakistan. For this purpose we take two independent variables which are GDP as aggregate demand and money supply and a response or dependent variable which is inflation as CPI. We took 41 years data for this study on yearly basis, so we can take a brief analysis on the phenomena of inflation. How it can be manageable in the current situation and how actually these factors can affect inflation in the Pakistan economy as real determinant of inflation. To test the hypothesis, we use multiple linear regressions MLR as statistical tool, for this we check that data is normal or not, is there any linearity among the data and the data or variables are serially correlated. We check these through different statistical means which shown in appendix. Here we see that the data is not linear and there is high autocorrelation or seria l correlation exists. So for this, we use log transformation to make data linear and reduce the correlation within the data to test our research hypothesis, we take logs of our predictors and response or dependent variables. We see still there is some non-linearity exists, and then we take difference of the variables (regressively) along with log transformation. We try to analyze the relation between GDP, MS and Inflation. By taking difference and log transformation, we apply the linear regression and still main assumption of the MLR not view, the autocorrelation removed and linearity exist but data become non-normal. We use different combination of variables to develop a fit model to test our research hypothesis. Lastly we come up with the model which we consider to use to test our research hypothesis and its findings discuss in the coming chapter. The equation used in our study Ln_dif_ Inf = ÃŽÂ ±+ ÃŽÂ ²1 Ln_dif _gdp + ÃŽÂ ²2 Ln_dif_ms +ÃŽÂ µ Here in this equation Ln_dif_Inf = shows the response or dependent variable after taking log transformation with difference of values. ÃŽÂ ± (alpha) = Constant term Ln_dif_gdp = shows the independent variable after taking log transformation with difference of values. Ln_dif_ms = shows the independent variable after taking log transformation with difference of values. and = referred to as partial regression coefficient. 3.5 Statistical Technique The Multi linear regression is used to conclude the result of data, because two variables are used as independent variable and one variable as dependent to observation and the scale data is used. One inflation and others are independent GDP as aggregate, M2 as Money Supply. So Multi Linear Regression is better option to evaluate the data being taken. Regression analysis is used to test the hypothesis and ANNOVA is used to see the variance. Due to expected presence of two predictors and the dependent variable most probably Multi Linear Regression is used to study the impact of MS and AD on Inflation. Linear regression is very easy to interpretation of result and to assess the result of given data. Regression developed the graphical presentation of two variables which are taken in research as data, the linear regression shows one variable on X axis and the other one variable on Y axis. The correlation of both variables can easily justify on the basis of slope line which is presenting the relation of two variables. CHAPTER 4: DATA ANALYSIS RESULTS To test the hypothesis, we use MLR with two predictors and one response variables to see the impact of aggregate demand and money supply on inflation. After apply the tool, we got the results which shows us different point of view than the researcher develop to initialize this study. The researcher wants to see that H1: inflation is increasing due to increase in money supply H2: inflation is rising due to increase in aggregate demand H3: there is no significant relationship between price increase and increase in money supply Making data linear and remove autocorrelation within the data by log transformation along with taking difference in values, we get the result in which the model summary table shows R, R Square and Adjusted R Square is round about 28%, 8% and 3% respectively, the purpose of seeing R values (correlation coefficients) which lies between 0 and 1, here the R is around 0.28 which shows the small positive correlation between the variables. The R Square coefficient of determination) is about .08 or 8% which describe or explain the 8% variability in the data, if R Square equal to zero means, no variance exists. Here in the research the R Square is 0.08 which is near to zero, so we can say that there is almost very low variance in the data explain by model. As research study use two independent variables, so adjusted R Square is more impor